Welcome back to your daily memorandum talking tech, business, AI, markets, and more. 🗞️

In today’s edition we are tackling the following:

💰 Russia are fining Google $2 decillion dollars.
☕ Starbucks revises strategy, dropping extra milk fees and cutting wait times.
🔍 OpenAI’s real-time web search launches in ChatGPT for paid users.
🔋 Skydio, the top U.S. drone maker, limits battery supplies due to Chinese sanctions.
🤖 Meta’s new ‘touchy’ robot hand senses vibrations, heat, and odor.

TECH

• OpenAI’s search engine is now live in ChatGPT

  • OpenAI launches real-time web search for paid users on ChatGPT, with plans to expand to free, enterprise, and education users soon.

  • Search integrates into ChatGPT’s interface, using Bing and providing features like maps and up-to-date info on diverse topics.

  • No ads planned; AI-powered search is costly, but OpenAI hints at limits for free user access.

• Largest U.S. Drone Manufacturer Says It Will Need To Ration Batteries For Customers After Sanctions By China

  • Skydio, the U.S.'s largest drone maker, announced battery rationing due to Chinese sanctions impacting supply chains.

  • CEO Adam Bry linked the sanctions to Skydio’s support for Taiwan, criticizing China for using supply chains.

  • Sanctions also freeze Skydio’s assets within China and target senior executives.

• Meta is making a robot hand that can feel touch

  • Partnering with GelSight and Wonik Robotics, Meta aims to commercialize tactile sensors for AI research.

  • New ‘Digit 360’ sensor, featuring human-like touch perception with 18 sensory features, detects vibration, heat, and even odor.

  • Wonik’s upgraded ‘Allegro Hand’ will integrate these tactile sensors, enhancing AI’s ability to model and understand the physical world.

BUSINESS

• Trump loses $1.3 billion in net worth after the worst-ever day for his social media stock

  • Trump Media & Technology Group, owner of Truth Social, saw its stock plunge by 22.3%, marking Trump’s biggest single-day net worth loss.

  • The share price decline, led Trump’s stake in the company to drop from $5.9 billion to $4.6 billion.

  • Trump Media’s fundamentals remain very modest for a company that is still valued at more than $8 billion.

• Starbucks CEO pledges to fundamentally strategy as sales fall

  • Starbucks missed earnings targets, with CEO Brian Niccol planning faster service to regain U.S. customers.

  • Same-store sales dropped 7%, with an 8% fall in traffic globally and a 14% drop in China due to local competition.

  • Starbucks will cut back on new cafes and focus on improving U.S. operations, with plans to reassess China’s strategy.

• Russia fines Google $20 decillion

  • Russia wants $20 decillion from Google over blocked pro-Russian YouTube channels, an amount far surpassing the global economy.

  • The fine doubles weekly, intended as ‘symbolic,‘ according to the Kremlin, over restrictions on Russian broadcasters.

  • Google maintains limited services in Russia, while stating that ongoing legal matters have no material impact on earnings.

CONTENT

• Investing in the Future of Entertainment: A Conversation with David Phillips, CEO of Elf Labs

  • Elf Labs merges classic IP like Cinderella with immersive tech to create interactive experiences without headsets.

  • Their patented tech enables high-fidelity streaming and AI-powered toys that engage across digital and physical worlds.

  • With rapid growth and IP partnerships, Elf Labs plans for an IPO or acquisition within 3-5 years, aims to redefine entertainment.

• Third Quarter 2024 Review—ft. Aswath Damodaran | Prof G Markets

  • Aswath Damodaran maps out the road ahead for some of the ‘fallen angels,’ including Nike, Starbucks, Estée Lauder, Boeing and Intel.

  • He discusses his philosophy on succession planning, shares his thoughts on Tesla’s most recent earnings,

  • And breaks down how he’s thinking about the upcoming election as an investor.

• Joe Rogan interviews JD Vance

  • Vance claims Trump could win over ‘normal’ LGBTQ voters seeking less interference.

  • Also ‘religious tyranny' risks, immigration and Sharia law, the COVID vaccine, and more.

  • Last week’s interview with Trump has amassed 42 million views to this point, the second largest Rogan show ever.

WORLD

• US says it expects North Korean troops to enter combat against Ukraine in the coming days

  • 8,000 North Korean troops trained in combat tactics stationed in Russia’s Kursk region.

  • US urges China to use its influence on North Korea to prevent regional destabilization.

  • US allies plan to increase support for Ukraine in response to Russia-North Korea alliance.

• Spain hit by deadliest floods in decades. Here’s what we know

  • Torrential rain caused catastrophic floods, killing at least 158 people, mostly in Valencia, with dozens still missing.

  • Emergency response includes over 1,000 military personnel, but locals criticize delayed alerts and lack of warning.

  • Climate change is likely a factor, with 'cold drop’ conditions and record Mediterranean temperatures intensifying the storm.

• The AI boom may unleash a global surge in electronic waste

  • The AI industry’s data center upgrades could add up to 2.5 million metric tons of e-waste yearly by 2030.

  • Most e-waste is non-recycled, often landing in low-income regions for manual dismantling under harmful conditions.

  • AI’s power demand has already caused emissions to surge, stressing power grids and delaying coal plant retirements in the U.S.

AND MORE…

• iOS 18.1 Goes Live With Apple Intelligence, Giving iPhone Users A Big Incentive To Update

  • Apple Intelligence now available on iOS 18.1, exclusive to iPhone 15 Pro, Pro Max, and iPhone 16 series models.

  • Users must join a waitlist to access Apple’s Private Cloud Compute for AI services.

  • For broader compatibility, updates like call recordings, Control Center enhancements, and bug fixes are available across eligible iPhones.

• Anthropic says governments should urgently take action on AI policy

  • Claims principles for AI regulation that support innovation are needed in the next 18 months.

  • Elements that are key for effective AI regulation: transparency, incentivizing better safety and security practices, simplicty and focus.

  • “It is critical that the burden of AI regulations is proportionate and tailored to the risks.”

• WhatsApp Users Can Now Filter Chats with Customized Lists

  • WhatsApp now allows users to organize chats with custom lists, enhancing previous chat filters.

  • Users can create categories like family, work, and friends, making it easier to focus on specific conversations.

  • The feature is accessible via the filter bar and allows editing by adding or removing contacts and groups.