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

In today’s edition we are tackling the following:

💥 Cybertruck explodes in front of Trump tower leaving 1 dead.
🗳️ U.S. imposes Russia, Iran sanctions over attempted election interference.
🇵🇷 Almost all of Puerto Rico plunged into darkness over New Year’s Eve.
🍯 Honey browser extension faces allegations of deceptive practices.
💻 Tech services firm WWT acquires Canadian IT provider Softchoice in all-cash deal.

BREAKING

• Firework mortars, gas cannisters stuffed inside Tesla that exploded outside Trump’s Las Vegas hotel

  • Las Vegas Metropolitan Police and Clark County Fire Department officials said that one person died and seven were injured.

  • “This is a Tesla truck, and we know that Elon Musk is working with President-elect Trump, and it’s the Trump Tower,” says Sherriff.

  • Authorities know who rented the truck with the Turo app in Colorado, but are yet to release the name.

TECH

• ’Squid Game’ Season 2 tops global charts despite mixed reviews

  • Squid Game Season 2 dominated global streaming charts, despite receiving mixed critical reviews.

  • Fans praised its bold storytelling, but critics highlighted weaker character development compared to the first season.

  • The series' success cements Netflix's position as a leader in international content.

• The Visas dividing MAGA World help power the U.S. tech industry

  • The H-1B visa program, crucial for bringing specialized foreign talent into the U.S. tech industry.

  • Some MAGA supporters advocate for reducing reliance on H-1B visas to prioritize American workers and address domestic employment concerns.

  • The debate highlights tensions between fostering technological innovation through global talent and prioritizing nationalistic policies to protect U.S. jobs.

• ByteDance planned to spend $7B on Nvidia chips next year

  • ByteDance planned to allocate $7 billion in 2025 for Nvidia chips to enhance its AI infrastructure and capabilities.

  • The spending highlights ByteDance's commitment to strengthening AI-driven features across its platforms, including TikTok.

  • This investment underscores the increasing demand for Nvidia’s GPUs in the competitive AI technology race.

BUSINESS

• U.S. imposes Russia, Iran sanctions over attempted election interference

  • The U.S. sanctioned Iranian and Russian entities for disinformation campaigns targeting the 2024 election.

  • Iran's Revolutionary Guard and Russia's military intelligence are linked to the accused organizations, which deny involvement.

  • The sanctions highlight U.S. efforts to protect democratic processes from foreign interference.

• Wall St. sees more gains ahead after another bumper year for stocks

  • The U.S. stock market is poised for a strong 2025 after two years of major gains, with the S&P 500 rising 53.19% since 2022.

  • Optimism is fueled by resilient economic prospects, moderating interest rates, and expected pro-growth policies under President Trump.

  • Risks include inflation, potential tariffs, and high stock valuations, but Wall Street anticipates continued, albeit slower, market growth.

• Citigroup says it’s leaving global climate-banking alliance

  • Citigroup announced its decision to leave the Net-Zero Banking Alliance.

  • The bank emphasized its commitment to sustainable financing but indicated it would pursue climate initiatives independently.

  • Citigroup's departure raises questions about the future cohesion of global climate alliances.

CONTENT

• Honey browser extension faces allegations of deceptive practices

  • Honey, a popular browser extension for finding coupon codes, has been accused of unethical practices.

  • The platform's actions have led to significant revenue losses for content creators.

  • The incident underscores the importance of vetting sponsors rigorously to avoid promoting products or companies with questionable practices.

• Bringing space data down to Earth for real-world impact

  • Earth observation satellites now capture hundreds of terabytes of images daily, offering unprecedented data access.

  • Millen Anand, an Engineering Fellow at a16z, explores how this satellite data is driving innovation across industries.

  • Key applications include monitoring environmental changes and optimizing supply chains, showcasing the transformative potential of satellite technology.

• Young innovator challenges Y combinator’s prestige after viral successes

  • Schiffmann addresses technical challenges in AI memory systems, focusing on innovative solutions.

  • He advocates for creating new market categories rather than competing in existing ones.

  • The conversation blends technical AI developments with philosophical approaches to building startups.

WORLD

• Almost all of Puerto Rico plunged into darkness on New Year’s Eve

  • A major power outage in Puerto Rico left over 700,000 customers without electricity, disrupting daily life across the island.

  • Officials attribute the blackout to a failure in the power grid, and repair efforts are underway to restore service.

  • Puerto Rico continues to face significant infrastructure vulnerabilities, highlighting the need for long-term grid modernization.

• Samsung Electronics becomes largest shareholder of South Korea's Rainbow Robotics

  • Samsung Electronics has become the largest shareholder in South Korea's Rainbow Robotics by increasing its stake to 22.82%.

  • Rainbow Robotics specializes in humanoid robots and robotic arms, aligning with Samsung's strategy to expand into the robotics sector.

  • This move highlights Samsung's commitment to positioning itself as a leader in next-generation technologies like robotics and automation.

• Korea’s Presidential aides seek to resign as turmoil continues

  • Top aides to South Korea’s President have offered their resignations, signaling a major shake-up in the administration.

  • The move comes as the government faces increasing public criticism over its handling of domestic and economic issues.

  • The resignations reflect deepening challenges for the administration and raise questions about the stability of the current leadership.

AND MORE…

• Tech services firm WWT acquires Canadian IT provider Softchoice in all-cash deal

  • U.S.-based WWT (World Wide Technology) has acquired Canadian IT services firm Softchoice in an all-cash deal.

  • The acquisition aims to bolster WWT’s cloud and IT infrastructure services while leveraging Softchoice's expertise and customer base.

  • The deal highlights increasing consolidation in the IT services industry as firms look to scale and meet growing demand for digital transformation solutions.

• Volkswagen leak exposed location data for 800,000 electric cars

  • Volkswagen experienced a data breach, exposing sensitive information, including the real-time location of its electric vehicles.

  • The breach raises privacy concerns for EV owners, as location data and other details were reportedly accessible for an unknown period.

  • Volkswagen is investigating the scope of the breach and implementing measures to strengthen its data security systems.

• Anticipated Apple innovations set to release in 2025

  • Apple is expected to release the iPhone 17 series with improved camera systems and the M4 chip.

  • The second-generation Vision Pro headset is anticipated, offering refined features and a more accessible price point.

  • iOS 19, macOS 15, and other software updates are likely to bring new features focused on AI-driven innovations.