🗞️ ByteDance’s $300B hit

November 18, 2024   |   Listen Online   |   Read Online Brought to you by: Top stories today: Trump said to be exploring ways to ease rules for self-driving cars SpaceX share sale said to boost valuation to $255B TikTok parent ByteDance valuation reportedly rises to ~$300B OpenAI's early emails reveal initial leadership, competition concerns Apple said to launch new AirTag in 2025 with similar looks YouTube now most popular platform for U.S. podcasts Follow us on X | Instagram | Advertise 0. Data and calendar All values as of 6 AM ET / 3 AM PT, other than S&P500 and NASDAQ close (4 PM ET / 1 PM PT). All times are ET. Listen to our AI-generated podcast summarizing today's newsletter (beware the few hallucinations): Bay Area Times Daily - Nov. 18, 2024 ►   Play Online 1. Trump said to be exploring ways to ease rules for self-driving cars Tesla stock is +8% on the news, and +28% since election day: MarketWatch. Federal framework for fully self-driving cars is reportedly in consideration by the Trump team. Current rules significantly restrict companies developing fully self-driving vehicles. Trump's strong relationship with Musk may help curb these restrictions. Ex-Uber executive Emil Michael could get the transport secretary position to spearhead policy updates. 2. Money Pickle: Easy Access to Trusted Financial Advice Anytime, Anywhere* Money Pickle Money Pickle makes it easy to connect with a financial advisor online; no need for in-person visits, just schedule a call or video chat from home. You start by answering a few questions, then you can book a free initial consultation; if you need more help, you can continue with your advisor for a fee. The platform prioritizes safety, using secure data practices and carefully screening all advisors, including verifying their credentials with FINRA. Users really like Money Pickle; it's rated highly on Google and Reddit for being accessible, with knowledgeable advisors and solid customer support. Get Started with Your Free Consultation Today! *Sponsored. 3. SpaceX share sale said to boost valuation to $255B +21% from the last $210B valuation. Early talks for SpaceX's secondary round have reportedly begun. The valuation sets a U.S. record but trails ByteDance's $268B from Dec. 2023. SpaceX has not disclosed details of the share sale. Relatedly, Musk's xAI is said to be raising $6B at a $50B valuation xAI is the second biggest AI company after OpenAI. $5B is expected from Middle Eastern sovereign funds, with $1B from other investors. Early this week: when the deal is expected to close. 100K NVIDIA chips would be bought from the new capital. 4. TikTok parent ByteDance valuation reportedly rises to ~$300B as U.S. restrictions loom $268B was ByteDance's last valuation disclosed in Dec. 2023. Trump is expected to restrict ByteDance's U.S. presence in his new term next year. 5. OpenAI's early emails reveal initial leadership, competition concerns X: Internal Tech Emails. "We are concerned that as the company progresses toward AGI, you may retain absolute control despite current intentions," Sutskever wrote to Musk. Initial hosting deal with Microsoft was also a concern of the early OpenAI team. Altman told Musk DeepMind tried to "kill" OpenAI pre-launch by poaching talent. The nonprofit would stay neutral and foster collaboration, OpenAI president Greg Brockman, then CTO, expressed in early email to Musk. However, the emails don't reveal the complete story as they are released to allegedly show OpenAI's antitrust attempts. 6. Apple said to launch new AirTag in 2025 with similar looks but better range Apple: AirTag (1st-generation) in a leather case. AirTag 2 may help prevent stalking with a tamper-proof speaker design. Improved privacy is also anticipated. Tim Cook plans to avoid potential Trump tariffs by leveraging his relationship with the President-Elect. A TV set is also being considered (again) by Apple. 7. YouTube now most popular platform for U.S. podcasts, with 30% market share WSJ. 8. 70% of 2.3M federal civilian jobs are military-related WSJ. The Department of Government Efficiency will likely face opposition to any cuts to government, especially in the military. Their median salary is $97K, vs $61K for the median U.S. worker WSJ. 9. Interesting videos, posts, and memes Trump's market impact: Bitcoin, M&A, IPOs + transition picks; Polymarket CEO raided by FBI #73: Elon to Lead DOGE, Bitcoin Surges & the Trump Alliance Raman Malik: Inside Perplexity's Growth Machine: What Worked, What Did Not Work | E1226 10. Other headlines AI AGI arriving during Trump's term is all that matters: Prof. Max Tegmark. Top-Quality Talent, 70% Cost Savings—Meet Athyna.* Money Pickle: Ready to take control of your financial future?* *Sponsored. Tech Xiaomi's revenue +31% to $12.8B. Samsung stock +7% on Mon. after $7B buyback surprise. Exploration Company raises $160M to build European SpaceX competitor. Tech & law Brendan Carr named FCC chair by Trump. Google, Meta push to block KOSA, stoking House culture wars: sources. Biotech Metsera raises $215M for "ultra-long-acting" weight loss drugs. Lilly, Novo fight to stop compounded copies of weight loss drugs: a look at. Business Netflix's Tyson vs. Paul fight gets 65M viewers. U.S. foreign students reach 1.1M, with India (332K), China (277K) leading. Crypto RFK Jr.: "I put most of my wealth into Bitcoin, so I am fully committed." U.S. politics Treasury Secretary slot now could go to Marc Rowan, Kevin Warsh. Speaker Johnson suggests that budget cuts are necessary for Trump tax cuts. RFK Jr. poses with McDonald's food besides Trump, Don Jr., Elon, Johnson. World Ukraine allowed by Biden admin to use U.S. missiles to strike Russia. Europe also pushing Ukraine for deal with Russia. North Korea could send 100K troops to fight for Russia. Turkey welcomes Hamas after Qatar pressured by U.S. Was this newsletter forwarded to you? Sign up here. Liked it? Forward it to friends and get rewards (see below). Share Bay Area Times Share our newsletter with your friends and get free Bay Area Times rewards! You currently have 0 referrals, only 1 away from receiving our Generative AI Unicorns Database. Click to Share Or copy and paste this link to others: https://www.bayareatimes.com/subscribe?ref=UbEAXR818y What did you think of today's newsletter? ⭐️⭐️⭐️⭐️⭐️ Amazing! ⭐️⭐️⭐️ OK ⭐️ Bad Advertise on the Bay Area Times Disclaimer: The Bay Area Times is a news publisher. All statements and expressions herein are the sole opinions of the authors or paid advertisers. 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