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Top stories today: - Elon Musk, Vivek Ramaswamy to co-lead DOGE
- Apple said to launch wall-mounted tablet in Mar.
- Perplexity experiments with ads to monetize AI-powered search engine
- CPI projected at 0.2% MoM, core CPI at 0.3%, out at 8:30 AM ET
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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). |
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 | All times are ET. |
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Listen to our AI-generated podcast summarizing today's newsletter (beware the few hallucinations): |
| Bay Area Times Daily - Nov. 13, 2024 ► Play Online |
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1. Elon Musk, Vivek Ramaswamy to co-lead Department of Government Efficiency |
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Musk and Ramaswamy "will pave the way for my Administration to dismantle" bureaucracy, Trump said. The duo will also help "slash excess regulations, cut wasteful expenditures, and restructure Federal Agencies." From outside of government, both will "provide advice and guidance." DOGE is the acronym of the new department. "At least" $2T could be cut from the federal budget, Musk said in October. Jul. 4, 2026: the deadline for their work to end, before the next mid-term elections. Also, the country's 250th anniversary. Dogecoin -10% on the news to $0.38 / $56B market cap.
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2. Apple said to launch wall-mounted tablet as home command center in Mar. |
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Square iPad-like design with a 6-inch display rumored. A front camera, built-in battery, and internal speakers expected. Home appliance controlling, video conferencing, and AI-based app navigation features are likely. Siri and Apple Intelligence could be deeply integrated. Amazon's Echo Show and Google's Nest could be in its competition.
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4. Perplexity experiments with ads to monetize AI-powered search engine |
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"Sponsored follow-up questions" will start appearing in the U.S. this week. Indeed, Whole Foods, and PMG are among early ad partners. AI will generate these "sponsored questions." "Ad programs like this help us generate revenue to share with our publisher partners," the startup said. Ramping up monetization is essential as Perplexity is reportedly raising fresh capital.
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5. CPI projected at 0.2% MoM, core CPI at 0.3%, out at 8:30 AM ET |
 | Nice |
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6. Elon Musk's X sees increased usage in U.S. during elections |
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74.8M X's daily U.S. app and web traffic on the election day, up from 69.3M the day before. 83.2M peak traffic hit the day following the election. Some brands are said to resume advertising on X as Trump won the election. 115K X accounts in the U.S. were deleted a day before the election.
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Bluesky and Meta's Threads gained on X's user account deletions |
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3X growth in Bluesky's U.S. DAUs to 1.22M. 4.65M is Threads's new U.S. DAU peak hit on Nov. 7. +62% in Bluesky's user base to 14.6M from 9M in Sep.
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7. Metaverse, AR funding set to hit lowest levels in years in 2024 |
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$758M invested in metaverse and AR/VR startups in 2024 YTD, vs. $1.76B in 2023. 109 deals have been closed so far this year, down from 200 rounds last year. 2021 marked the peak, with $3.97B invested in metaverse and AR/VR startups. Apple's Vision Pro failed to drive growth in the ecosystem.
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8. AI PC shipments now represent 20% of all PCs |
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HP led AI PC shipments, followed by Lenovo and Dell |
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9. China's premium smartphone segment grows faster than overall smartphone market |
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10. Interesting videos, posts, and memes |
 | AI Twitter Beefs #2: Yann LeCun, David Deutsch, Tyler Cowen vs. Eliezer Yudkowsky, Geoffrey Hinton |
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 | Trump is About to Change Everything For Tech Startups |
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 | Smart sleep is worth the cost | The Vergecast |
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11. Other headlines |
AI |
SoftBank plans supercomputer featuring NVIDIA's Blackwell chips. OpenAI co-founder Greg Brockman returns to startup after months-long leave. Writer, enterprise GenAI startup, raises $200M at $19.9B valuation. Qwen open sources 32B coding LLM. FrontierMath's AI math benchmark: a look at.
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Tech |
Klarna confidentially submitted U.S. IPO draft registration to SEC. Microsoft to end support for Windows Mail, Calendar, People apps on Dec. 31. Saudi's PIF cuts Nintendo stake to 6.3% from 7.5%.
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Tech earnings |
Tencent Q3 revenue +8% YoY to $23.9B, net income +20% to $7.4B. Spotify Q3 revenue +19% YoY to €3.99B, MAUs +11% to 640M. Shopify's Q3 revenue +36% to $2.16B. Instacart Q3 revenue +12% YoY to $852M, gross transactions +11% to $8.3B.
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Tech & law |
TikTok ban could be interfered with by Trump. Next FTC chair could be as anti-Big Tech as Lina Khan. Apple notified by EU that geo-blocking practices could be illegal.
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Biotech |
AlphaFold 3 open sourced by Google for academic use. Time sitting correlates with faster pace of aging: twin study. J&J gets FDA approval to kick off clinical trials for Ottava surgical robot.
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Business |
Rivian-Volkswagen joint venture deal finalized at up to $5.8B. U.S. scrutinizes Russia accounts UBS took over from Credit Suisse: sources. Oil pares losses on tight supply, but weak demand caps gains.
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Crypto |
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U.S. politics |
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World |
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