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

In today’s edition we are tackling the following:

📱 Samsung may bundle Perplexity AI on Galaxy phones, shifting away from Google.
🎮 Nvidia to launch Arm-based chips in Alienware gaming laptops.
🤝 Russia and Ukraine agree to swap prisoners but not ceasefire.
🌍 Bill Gates pledges most of $200B to Africa for health and education.
📉 Private equity sits on $3.6T amid stalled dealmaking.

TECHNOLOGY

• Jony Ive’s OpenAI device gets the Laurene Powell Jobs nod of approval

  • Jony Ive and Sam Altman are collaborating on a human-centered AI device, addressing the unintended consequences of past technologies.

  • Laurene Powell Jobs supports the project, emphasizing the need for responsible innovation and ethical design in emerging technologies.

  • OpenAI is acquiring Ive's hardware startup, io, for nearly $6.5 billion, marking its largest acquisition to date.

• Nvidia’s Arm-powered gaming laptop could launch later this year with Alienware

  • Nvidia is developing an Arm-based PC chip with MediaTek, combining an Arm CPU and Blackwell GPU architecture for enhanced performance.

  • The chip aims to improve Windows on Arm gaming experiences, potentially debuting in Alienware laptops later this year or early 2026.

  • This move positions Nvidia to compete with Qualcomm and AMD in the Arm-based CPU market for gaming laptops.

• Samsung may incorporate Perplexity's AI tech in its phones

  • Samsung is in advanced talks to invest in Perplexity AI, aiming to integrate its technology into future Galaxy devices.

  • The partnership could see Perplexity's AI assistant pre-installed on phones and integrated into Samsung's Bixby features.

  • This strategic move may reduce Samsung's reliance on Google's services, marking a significant shift in the Android ecosystem.

BUSINESS

• Private Equity Confronts Swollen Investment Backlogs With Dealmaking Stuck

  • Private equity firms are stuck holding $3.6 trillion in assets, with over $1.8 trillion held for four years or more.

  • Distributions to investors dropped to 11% of net asset value in 2024, well below historical averages.

  • Fundraising and deal activity have sharply declined, driven by rising interest rates and global economic uncertainty.

• Disney Lays Off Hundreds Amid Traditional TV Decline

  • Disney is cutting several hundred jobs globally across film, TV, marketing, casting, and corporate finance divisions.

  • The layoffs respond to shifting media consumption, as audiences move from traditional TV to streaming platforms.

  • This marks Disney's fourth major layoff round in ten months, following previous cuts in 2023 and early 2025.

• Bill Gates Says Most of the $200 Billion He's Pledged to Donate Will Go to Africa

  • Bill Gates plans to donate $200 billion over the next 20 years, focusing primarily on health and education in Africa.

  • The Gates Foundation will close by 2045, aiming to address global health challenges amid reduced U.S. foreign aid.

  • Gates emphasizes partnering with governments that prioritize citizens' well-being to promote prosperity across the continent.

MARKETS

WORLD

• Russia and Ukraine Fail Again to Agree Ceasefire but Commit to Prisoner Swap

  • Russia and Ukraine's second round of peace talks in Istanbul ended without a ceasefire agreement.

  • Both sides agreed to exchange seriously wounded and young prisoners, and repatriate 12,000 fallen soldiers.

  • Ukraine presented a list of abducted children; Russia committed to discussing the return of only ten.

• China's Accusation Ratchets Up Tensions With US Again

  • China condemned new U.S. chip export controls, claiming they breach trade agreements and unfairly target Chinese companies.

  • Beijing hinted at retaliatory trade measures, increasing the risk of another escalation in the tech trade war.

  • The dispute is straining diplomatic relations and creating uncertainty for businesses and markets worldwide.

• Italy's Mount Etna Erupts, Sending Tourists Fleeing

  • Mount Etna erupted during a national holiday, spewing lava, ash, and pyroclastic flows across the Sicilian landscape.

  • Tourists fled as ash clouds rose over six kilometers high, disrupting travel and triggering aviation safety alerts.

  • Authorities report no injuries but continue to monitor seismic activity as eruptions remain unpredictable.

CONTENT

• Windsurf CEO Varun Mohan on AI’s Biggest Acquisition

  • Windsurf powers over 50% of committed code at thousands of companies, redefining the role of the modern IDE.

  • Varun discusses startup myths, the reality of moats, async agents, and whether PMs will even exist by 2030.

  • He explains why agents will fail without workflows, and what Windsurf learned from Cursor’s early product decisions.

• State-Of-The-Art Prompting For AI Agents

  • Prompting has become a critical part of AI deployment, evolving from hacks to high-leverage production workflows.

  • Founders share what fails in real-world prompts, including eval design, metaprompting, and reliable output testing.

  • The team explores vertical AI agents, FDE models, and how LLM ‘personalities’ affect product development success.

• Elon Musk’s Starbase Update: Mars and Beyond

  • SpaceX aims to produce 1,000 Starships a year, with factories in Texas and Florida supporting Mars colonization.

  • Starship manufacturing is approaching aviation-scale output, with each ship larger than a Boeing 747.

  • Elon outlines civilization resilience goals, explaining why a self-sustaining Mars base is critical to human survival.

FUTURISM

• ZKsync introduces private blockchain platform Prividium

  • ZKsync launched Prividium, a permissioned blockchain for enterprises focused on privacy, compliance, and Ethereum-based settlement.

  • Features include role-based access, KYC/KYB support, and audit logs tailored for regulated institutional blockchain use.

  • Deutsche Bank and others are using it for tokenization, fund servicing, and cross-border private blockchain payments.

• This Project Lets You Send Bitcoin Without Internet Access

  • Darkwire enables Bitcoin transactions using LoRa radio without internet or mobile networks, offering offline crypto payments.

  • The system uses mesh networking to route transactions to connected nodes that broadcast to the Bitcoin blockchain.

  • Built for disaster zones and censorship resistance, it offers decentralized access to financial tools without central infrastructure.

• Why Satoshi might still hold the keys to $123B BTC

  • Satoshi Nakamoto’s early mining likely secured 1.1 million BTC, now estimated to be worth $123 billion today.

  • This stash once represented 25 percent of BTC supply but now accounts for just 5.6 percent.

  • If moved, Satoshi’s coins could trigger panic or massive volatility across global crypto markets and exchanges.

EXTRAS

• Who can compete against pump.fun?

  • Pump.fun's market share has declined from 98% to 57.5%, facing competition from platforms like LetsBonk and Believe.

  • New entrants offer innovative features and better incentives, attracting developers and users seeking alternatives.

  • The memecoin launchpad space remains dynamic, with potential for more serious competitors to emerge.

• Memecoin Launchpads Take Aim at PumpFun's Dominance

  • Believe's market capitalization surged from $1.5 million to over $200 million, attracting substantial developer interest.

  • Pump.fun's market share dropped to 57.5%, while LetsBonk and Believe captured 17.9% and 12.9%, respectively.

  • The rise of new platforms reflects intensifying competition and indicates users are seeking innovative alternatives.

• Bitcoin Treasury List Grows With Entry of Crypto Brokerage K33

  • Norwegian crypto brokerage K33 raised $6.2 million to acquire Bitcoin, joining the growing list of companies holding BTC.

  • K33's move reflects a broader trend of firms adopting Bitcoin as a treasury asset amid market enthusiasm.

  • The firm's entry into the Bitcoin treasury space underscores increasing institutional interest in cryptocurrency investments.

AND MORE

• Nvidia may launch an Arm-powered gaming laptop with Alienware later this year.

• TLDR’s free daily newsletter covers the best tech, startup, and coding stories in a quick email that takes 5 minutes to read.*

• Samsung is in talks to embed Perplexity AI in future Galaxy phones.

• Private equity is holding $3.6 trillion in assets as dealmaking stalls.

• Hong Kong developer New World misses bond payment and triggers investor panic.

• Ukraine’s drone blitz disabled 41 Russian bombers, shaking Moscow’s military strategy.

• Limited space left to invest in history’s most profitable character IP.*