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

In today’s edition we are tackling the following:

🚀 Silicon Valley quashed the AI doom narrative in 2024.
🎅🏻 Wall Street’s hopes for a ‘Santa Claus Rally’ dim.
🇨🇳 China hits dozens of U.S. companies with trade controls.
🤝 Exploring teamwork, design partners, pod structure, and trust inside Gong.
✅ Telegram rolls out third-party account verification, filters.

TECH

• Silicon Valley stifled the AI doom movement in 2024

  • Silicon Valley effectively countered the AI doom movement through several key actions.

  • Tech leaders emphasized the positive potential of AI, thereby shifting public perception towards its benefits.

  • Companies adopted ethical AI frameworks, promoting transparency and responsible development to address concerns about AI risks.

• NASA's 2025 missions aim to unveil cosmic mysteries

  • NASA is set to embark on several groundbreaking missions to deepen our understanding of the universe.

  • Launched in October 2024, the Europa Clipper will conduct detailed reconnaissance of Jupiter's moon Europa.

  • NASA’s JWST will continue to explore the early universe, study galaxy formation, and analyze exoplanet atmospheres.

• The electric car boom in China shifts focus to hybrids

  • China's electric vehicle market is experiencing a significant shift towards hybrid vehicles.

  • To navigate new European Union tariffs on EVs, Chinese manufacturers are exporting more hybrids to Europe, as tariffs do not apply to EVs.

  • Hybrids offer a solution for consumers concerned about charging infrastructure and range limitations, making them an appealing choice.

BUSINESS

• Hopes for a ‘Santa Claus rally’ fade on Wall Street

  • Wall Street's anticipated ‘Santa Claus rally’ has not materialized this season.

  • Historically, the S&P 500 averages a 1.3% gain during the last five trading days of December and the first two of January.

  • In the current period, the S&P 500 has declined by 1.5%, the Nasdaq Composite by 2.3%, and the Dow Jones Industrial Average by 0.8%.

• 10 strategies Republicans could adopt to offset costs of new tax cuts

  • The budget outlines substantial cuts to various federal programs, including reductions in social services.

  • Plans suggest measures to increase federal revenue, such as closing tax loopholes and implementing new fees, to address national debt.

  • The budget relies on optimistic economic growth projections.

• Rolex increases watch prices by up to 8% following surge in gold prices

  • As of January 2, 2025, Rolex has increased its watch prices by up to 8%, citing the rising cost of gold and other raw materials.

  • This adjustment affects various models, with gold and platinum watches experiencing the most significant price hikes.

  • The luxury watch industry is closely monitoring these developments, as other brands may implement similar price adjustments.

CONTENT

• Inside Gong: teamwork, design partners, pod structure, and trust

  • Eilon Reshef, co-founder and chief product officer at Gong, shares insights into the company’s success and his approach to leadership.

  • Eilon’s quick decision-making process and his ‘spiral method’ help him learn complex topics rapidly.

  • He emphasizes extreme focus and maintaining quality while optimizing for speed in product development.

• Optimize your learning & creativity with Science-based tools

  • The episode highlights how to boost creativity and enhance learning by aligning with the body’s natural rhythms.

  • This covers tools to improve focus, explaining how to time techniques according to the day’s rhythm.

  • It discusses combining biological factors with subjective methods to tailor an approach that supports individual goals.

• From cloud to edge: AI gets personal

  • Jennifer Li explains how generative AI models running directly on smartphones will reshape experiences.

  • With more efficient models and powerful devices, AI-driven experiences will become faster more seamless, and offer better privacy.

  • The shift to on-device AI presents new opportunities in voice agents, AR cameras, and wearables.

WORLD

• Trudeau keeps Canada guessing about his future plans

  • Canadian Prime Minister Justin Trudeau has yet to clarify his political future, leaving his party and the country in suspense.

  • Liberals, including MPs, are urging Trudeau to decide, especially after high-profile resignations like Deputy PM Chrystia Freeland.

  • The lack of clarity is fueling anxiety within the party, potentially affecting its strategy and prospects for the next federal election.

• Euro and British pound tumble against U.S. dollar as markets brace for Trump return

  • The British pound fell to an eight-month low against the U.S. dollar on Thursday, while the euro hit its weakest level since November 2022.

  • U.S. economy and equities optimism was in focus as markets reopened following disrupted trade over Christmas and New Year.

  • Interest rate expectations and potential for lower taxes and deregulation under Donald Trump have been pulling the dollar higher recent months.

• China hits dozens of U.S. companies with trade controls

  • China has added 28 U.S. entities to its export control list, citing national security concerns.

  • The targeted companies include some major defense and aerospace firms.

  • Effective immediately, China has banned the export of dual-use items to these companies.

AND MORE…

• Telegram rolls out third-party account verification, filters

  • Telegram has rolled out its first update of the year to enhance user security and content moderation

  • These updates aim to provide users with a safer and more personalized experience on the platform.

  • The third-party verification allows users to authenticate accounts, while the new filters enable users to control the content they encounter.

• Biden says attacker appeared to be inspired by ISIS

  • On January 1, 2025, during New Year's celebrations in New Orleans' French Quarter, a tragic incident occurred.

  • A pickup truck driven by 42-year-old Shamsud-Din Jabbar plowed into a crowd on Bourbon Street.

  • The incident resulted to 15 fatalities and injuring at least 35 individuals.

• Popeye and Tintin are now in the public domain

  • Works from 1929, including Popeye and Tintin, have entered the public domain in the U.S., allowing free use and adaptation.

  • Literary classics like ‘A Farewell to Arms,’ early films like Disney's ‘The Skeleton Dance,’ and songs like ‘Singin' in the Rain’ are now accessible.

  • The transition opens doors for new adaptations, scholarly research, and creative reuse of these iconic works.