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

In today’s edition, we are tackling the following:

🧠 Microsoft slashes 4% of workforce in largest layoff of 2025.
🎮 Google’s Veo 3 model may evolve into playable gaming worlds.
⚡ Oracle to supply OpenAI with 4.5GW of AI data center power.
📱 Foxconn recalls staff from India, pressuring Apple's supply chain.
🕶️ Apple’s Vision Air smart glasses are expected to launch in 2027.

TECHNOLOGY

• Microsoft plans to lay off about 9,000 employees

  • Microsoft is cutting nearly 4% of its workforce in its largest reduction this year, targeting Xbox sales and marketing teams.

  • The layoffs coincide with the start of the fiscal year and follow rounds in May and June, aligning with a shift toward AI infrastructure.

  • Xbox CEO Phil Spencer stated the restructuring will remove management layers to boost agility and focus on core growth areas.

• Could Google’s Veo 3 be the start of playable world models?

  • Veo 3, Google’s new text-to-video model, can generate video and synchronized audio, hinting at possible future gaming applications.

  • DeepMind CEO Demis Hassabis and others suggested the model might evolve into interactive world models for games.

  • While still passive, Google could merge Veo with its Genie technology to build dynamic, playable simulations down the line.

• Google Home now offers Admin and Member roles for household control

  • Google Home’s latest update introduces Admin and Member roles; Members get basic device access, with optional settings or permissions.

  • The update makes it easier to add children under 13 via Family Link, streamlining parental smart-home management.

  • These tiers balance security and flexibility, helping families share access without exposing full control or history.

BUSINESS

• Oracle, OpenAI expand Stargate deal for 4.5 GW of U.S. data center power

  • OpenAI will lease roughly 4.5 gigawatts of cloud power from Oracle under its ambitious Stargate AI infrastructure initiative.

  • The expansion reflects soaring demand for compute capacity, as cutting-edge AI models require massive data-center resources.

  • This move underscores Oracle’s growing role in the AI boom and supports OpenAI’s rapid scaling plans.

• Trump amasses $620 million in crypto wealth, reshaping his fortune

  • Donald Trump’s crypto ventures, including meme coins and token projects, added at least $620 million to his net worth in recent months.

  • Crypto now represents a new revenue stream for him, surpassing some traditional real estate and licensing income sources.

  • This marks a significant pivot in his financial profile, showing how digital assets are transforming political fortunes.

• Foxconn pulls Chinese staff from India, posing a hurdle for Apple

  • Foxconn has recalled hundreds of Chinese engineers and technicians from its southern India iPhone factories over recent weeks.

  • The move is seen as a sign of geopolitical tension complicating Apple’s efforts to diversify its manufacturing beyond China.

  • With local staff shortages mounting, production delays or cost pressures could slow Apple’s planned India-based supply expansion.

MARKETS

WORLD

• U.S. chipmakers could see bigger tax credits if Trump’s spending bill passes

  • A proposed bill would raise tax credits for U.S. semiconductor plants from 25% to 35% to boost domestic chip production.

  • Companies like Intel, Micron, and TSMC stand to benefit as they face mounting costs and reduced international revenue.

  • The move builds on CHIPS Act incentives to strengthen U.S. supply chains and reduce reliance on foreign fabs.

• Hamas says it’s open to a Gaza ceasefire but stops short of the Trump-backed plan

  • Hamas expressed interest in a 60-day ceasefire but insists on a full war resolution, not a temporary pause.

  • Trump said Israel accepted the terms, which include aid deliveries and hostage exchanges, pending Hamas approval.

  • Negotiations are ongoing in Cairo with Egyptian and Qatari mediators, though major disagreements remain unresolved.

• Scorching European heatwave turns deadly in Spain, Italy, and France

  • Extreme heat led to multiple deaths, including wildfire victims and children suffering from heatstroke, across southern Europe.

  • Governments closed schools, restricted outdoor work, and opened emergency cooling shelters in high-risk areas.

  • Wildfires spread rapidly in Spain and Turkey, with climate officials calling the conditions ‘exceptional and alarming.’

CONTENT

• Meet the Hidden Agent Builder Turning Simple Prompts into Profit

  • Tod Sacerdoti introduces String, an AI agent platform that builds powerful automations using natural language instead of visual code.

  • Examples include monitoring Hacker News, generating LinkedIn posts, and summarizing Google Analytics.

  • The platform empowers non-technical users to build complex automations and launch businesses powered by agent-based systems.

• Tesla Sinks as Trump & Elon Reignite Their Feud

  • Tesla’s stock dropped following Elon Musk’s renewed public feud with Donald Trump, raising concerns about political entanglements.

  • The episode covers weakening U.S. manufacturing data, economic indicators, and Robinhood’s controversial bet on private shares.

  • Ed interviews top analysts to unpack market sentiment and investor reaction to tech-politics crossover and financial innovation.

• How Your AI Prompt Travels Through a Data Center

  • Joanna Stern traces what happens when you hit ‘enter’ on an AI prompt, following it through Virginia’s massive data center.

  • The video breaks down power consumption, GPU usage, and shows how each AI task draws significant electricity.

  • Using humor and a steak grill analogy, WSJ illustrates the real-world energy cost of modern AI computation.

FUTURISM

• ChatGPT referrals to news sites are growing, but not enough to offset search declines

  • ChatGPT is driving increasing traffic to news publishers, but the boost hasn’t made up for lost search engine referrals.

  • Publishers report referral growth between 10–30%, yet overall traffic still trails behind search-generated levels.

  • The trend highlights the early-stage battle for publishers to adapt as AI reshapes content discovery and monetization.

• Apple Vision Air smart glasses tipped for 2027, says Kuo supply chain report

  • Analyst Ming‑Chi Kuo forecasts Apple will launch Vision Air lightweight smart glasses in 2027, complementing Vision Pro.

  • Supply chain signals suggest early headset components are already shipping to Apple manufacturing partners.

  • Vision Air is expected to prioritize comfort and portability, targeting casual augmented reality users rather than XR pros.

• Amazon Echo Hub appears in Prime Day deals alongside Apple Pencil Pro

  • Amazon’s Echo Hub smart display is included in deep Prime Day discounts, bringing its price dramatically below $100.

  • Amazon also launched limited-time bundle deals this Prime Day, including Apple Pencil Pro alongside iPad accessories.

  • The promotions highlight Amazon’s strategy of mixing its own devices with third-party premium items to boost event sales.

EXTRAS

• TikTok Shop cuts more U.S. workers in third round since April

  • TikTok Shop, the video-commerce arm of ByteDance, has conducted its third round of U.S. layoffs since April.

  • The downsizing reflects challenges in scaling its e-commerce operations and adjusting to market realities.

  • Remaining staff likely to refocus efforts on core markets and profitability strategies amid ongoing restructuring.

• Perplexity launches a $200 monthly subscription plan

  • AI startup Perplexity introduced a premium plan offering enhanced performance, priority access, and advanced capabilities.

  • The subscription includes faster response times, exclusive prompt templates, and enterprise-grade security features.

  • The move positions Perplexity to capture paying users beyond its free audience and monetize AI-driven research tools.

• Google Android 16 update fixes Pixel 6a battery overheating

  • Google’s July 8 Android 16 update addresses overheating and battery drain issues plaguing Pixel 6a devices.

  • The patch also improves thermal management and calibrates battery readings for more accurate performance.

  • This proactive fix aims to restore user confidence in older Pixel models amid competition from third-party smartphones.

AND MORE

• OpenAI confirms it has no plans to use Google's chips.

• Oracle secures $30 billion in annual cloud client contracts.

• 140k+ readers from Google, TikTok, OpenAI, and Deel love Open Source CEO's deep dive business content.*

• India’s Karnataka may jail users for spreading fake news online.

• The EU received 76 bids for its AI gigafactory program.

• TomTom will cut 300 jobs amid its shift toward AI.

• Canada drops digital tax, resumes trade talks with the U.S..

• Whether you’re shipping lemonade or scaling globally, Shopify grows with you.*