🗞️ Intel CEO’s sudden exit

December 03, 2024   |   Listen Online   |   Read Online Brought to you by: Top stories today: Elon Musk's $56B pay package again struck down by DE judge SpaceX said to consider tender offer at $350B valuation Intel CEO Pat Gelsinger forced to retire amid falling revenue Startup secondary discounts drop to 12% from 50% in early 2023 EU births -5.5%, largest decline as demographic challenges intensify U.S. labor productivity growth outpace rest of G7 countries 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 of the few hallucinations): Bay Area Times Daily - Dec. 3, 2024 ►   Play Online 1. Elon Musk's $56B pay package again struck down by DE judge despite shareholder vote X: Tesla. Tesla's board was improperly influenced by Musk, Judge Kathaleen St. J. McCormick said. "Absolute corruption," Musk called the decision. $56B was the package value by the time it was canceled on Mon., up from the initial $2.6B in 2018. Tesla will appeal the decision with the Delaware Supreme Court. 2. Master 25 Languages for Life with Rosetta Stone Rosetta Stone Lifetime access to 25 languages: Get unlimited access to immersive lessons in 25 languages, forever—no renewals needed. Real-life conversations: Learn practical phrases for meaningful conversations, and TruAccent helps you sound like a native. Beyond lessons: Enjoy stories, live lessons, and a phrasebook, all designed to bring language learning to life. Fits any schedule: Lessons as short as five minutes make it easy to learn anytime, anywhere. Proven results: Just 13 hours of Rosetta Stone equals a full semester of college Spanish! Get over 50% off 3. SpaceX said to consider tender offer at $350B valuation +67% in valuation over the $210B recorded earlier this year. $255B valuation was speculated last month. 4. Intel CEO Pat Gelsinger forced to retire amid falling revenue Was given the option to retire or be removed. David Zinsner and Michelle Johnston Holtaus are the interim co-CEOs. Intel stock was unchanged on the news. Intel hasn't been able to take advantage of the AI boom, with revenues falling since 2021 Stock Analysis. 5. Not Your Grandpa's Hearing Device* hear.com What happens when you combine German engineering with the world's most trusted name in hearing care? The biggest breakthrough in hearing technology in more than a decade. Introducing the Horizon IX hearing aid. Horizon IX by hear.com is one of the world's first dual-processing hearing aids, which separates speech and background noise to deliver never-before-heard clarity. The best part? The Horizon IX hearing aids are nearly invisible, tucked away inside or behind the ear, so you can enjoy perfect hearing without the burden of uncomfortable (or awkward) hearing devices: Bluetooth/smartphone connectivity and fully rechargeable Award-winning customer service Insurance and flexible finance options are available Ready to join 400,000 people hearing better than ever? See if you qualify for a 45-day no-risk trial of the award-winning Horizon IX hearing devices! Learn More *Sponsored. 6. Startup secondary discounts drop to 12% from 50% in early 2023 as demand grows PitchBook, Zanbato. StepStone and Industry Ventures are raising new secondary funds. Accel and Lightspeed are also showing growing interest in secondaries. Pre-IPO and tender offers at premiums boost secondary market. 7. EU births -5.5% YoY, largest annual decline as demographic challenges intensify FT, Eurostat, Centers for Disease Control and Prevention. 3.7M births across 27 EU states in 2023, the lowest since data collection began in 1961. Comparable to U.S. levels. Concerns about climate change, pandemic aftereffects, and rising inflation have been cited as key factors. The proportion of mothers aged 40 and above 2x'd over the past decade, from 2.5% to 6% FT, Eurostat. 8. U.S. labor productivity growth outpace rest of G7 countries FT, OECD, LSEG, National Statistics. +8.9% in U.S. output per hour from the pre-pandemic level in late 2019. 2-2.8% annual growth. Labor productivity relative to the U.S. has declined in most advanced economies FT, OECD, LSEG, National Statistics. China is expanding its R&D spend to squeeze out non-U.S. G7 nations FT, European Commission R&D Investment Scoreboard. 9. Funding to global wealth management startups +165% to $1.75B in 2024 YTD Crunchbase. 66 rounds have closed so far this year, vs. 80 in 2023. Human Interest, Farther, and Vanilla are among the top players. 10. Meta's Threads brings "After date", "Before date", "From profile" search filters Threads. The updated search is rolling out to everyone. Rivals X and Bluesky already provide advanced searching. 11. Interesting videos, posts, and memes Nik Storonsky, Revolut Founder: What Revolut Needs to Do to Hit $100BN Valuation | E1233 Build a high traffic startup using AI, Webflow and Zapier 12. Other headlines AI Tenstorrent raises $700M from Jeff Bezos, Samsung, at $2.6B valuation. NVIDIA backs $700M Nebius deal for AI cloud services. OpenAI hiring advertising talent from Meta, Google as it preps ads launch. "David Meyer" crashing ChatGPT: privacy requests may be reason. Tech Super Micro finds no evidence of fraud, to replace CFO. Enron.com "relaunched" as parody. Top-Quality Talent, 70% Cost Savings—Meet Athyna.* *Sponsored. Tech & law FTC fines online retailer Goat $2M over deceptive "Instant", "Next Day" orders. Biotech Merus showcases cancer drug's robust profile with new data. Obesity, Alzheimer's link exists, but not as strong as type 2 diabetes. NeuroAge's test on brain age combines AI, genetics, imaging. Crypto MicroStrategy adds 15.4K BTC for $1.5B, now has 402.1K BTC. DMM Bitcoin, Japan's crypto exchange, closes after $300M+ hack in May. Sonic Labs' L1 will go public soon. Downing Tech: consulting on decentralised technologies.* *Sponsored. Business China leaders plan to discuss GDP target, stimulus next week. 3 Fed officials keep options open for Dec. meeting. U.S. politics Trump warns "all help to pay" if hostages aren't released by Jan. 20. Daniel Penny's closing arguments start, 53% odds of him being found guilty. Trump remains opposed to US Steel sale, pledges tariff fix. World Marine Le Pen set to join left-wing coalition to topple French government. India pivots from Russia to U.S. for cutting-edge weapons. 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. The information, tools, and material presented are provided for informational purposes only, are not financial advice, and are not to be used or considered as an offer to buy or sell securities; and the publisher does not guarantee their accuracy or reliability. You should do your own research and consult an independent financial adviser before making any investments. Neither the publisher nor any of its affiliates accepts any liability whatsoever for any direct or consequential loss howsoever arising, directly or indirectly, from any use of the information contained herein. Assets mentioned may be owned by members of the Bay Area Times team.  Please read our Terms of Service and our Privacy Policy before using Our Service.   Update your email preferences or unsubscribe here © 2024 Bay Area Times 228 Park Ave S, #29976, New York, New York 10003, United States Terms of Service