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

In today’s edition we are tackling the following:

✅ Trump calls for creation of a ‘Crypto Strategic Reserve’.
🛢️ Shell explores sale of chemicals assets in U.S. and Europe.
🌐 Matt Mullenweg on the future of open source and why he’s taking a stand.
⛏️ Canada to extend mineral exploration tax credit for two more years.
📱 Siri’s real AI upgrade could still be years away.

TECH

• Trump calls for creation of a ‘Crypto Strategic Reserve’

  • U.S. President Donald Trump announced that XRP, Solana, and Cardano would be included in a U.S. strategic crypto reserve.

  • He later added Bitcoin and Ethereum to the list of assets composing the reserve.

  • XRP, SOL, and ADA experienced significant price surges on the news, while BTC and ETH fans expressed disappointment.

• Flora builds an AI-powered ‘infinite canvas’ for creative professionals

  • Flora’s AI-driven platform allows creators to work seamlessly across different media types, enhancing workflow efficiency.

  • The tool integrates generative AI features to assist with ideation, organization, and real-time collaboration.

  • Flora positions itself as a next-generation alternative to traditional design software, focusing on flexibility and AI-enhanced creativity.

• Honor invests $10B in AI and strengthens Google partnership

  • Honor on Sunday pledged $10 billion in artificial intelligence investments over the next five years.

  • The Chinese smartphone company also announced deepening ties with Google around Android updates and an AI agent.

  • Honor is looking to expand outside of China and push into the higher-end part of the market where Apple and Samsung play.

BUSINESS

• Shell explores sale of chemicals assets in U.S. and Europe

  • ​Shell is exploring a potential sale on its chemical assets in the U.S. and Europe including facilities as part of a strategy.

  • This strategic review, conducted with Morgan Stanley, aims to focus on more profitable operations under CEO Wael Sawan's direction.

  • Potential buyers include private-equity firms and Middle Eastern energy companies, showing interests in acquiring refining and chemical assets.

• Americans want Trump to do more for the economy polls say

  • ​Recent polling indicates that Americans are increasingly concerned about economic issues and desire more decisive action.

  • The polls suggest that economic dissatisfaction could impact public perception of Trump’s administration.

  • Treasury Secretary Scott Bessent expressed confidence that consumer price increases will slow over the course of the year.

• Attio is the CRM for the AI era*

  • Connect your email, and Attio instantly builds your CRM with enriched, actionable data, then unleash the full power of the platform.

  • Attio can handle some of your most complex operational processes like finding key decision-makers and triaging leads.

  • Join industry leaders like Flatfile, Replicate, Modal, and more.

• Trump will set exact levels for Mexico, Canada tariffs coming Tuesday

  • U.S. Commerce Secretary Howard Lutnick said on Sunday that tariffs on Canada and Mexico will go into effect on Tuesday.

  • A 25% tariff was proposed on all Mexican imports and non-energy Canadian imports, with a 10% tariff on Canadian energy products.

  • Lutnick indicated that the exact tariff levels remain "a fluid situation," with President Donald Trump set to finalize the specifics.

CONTENT

• Matt Mullenweg on the future of open source and why he’s taking a stand

  • Matt Mullenweg, co-founder of WordPress and CEO of Automattic, oversees a $7 billion company powering 43% of the internet.

  • He addresses public criticism, challenges Meta’s Llama as “fake open source,” and advocates for true open-source principles.

  • Mullenweg believes in building movements, not just products, and even mortgaged his home to fund San Francisco’s Bay Lights project.

• This is what young founders should focus on

  • This episode focuses on the increasing trend of young founders in their 20s launching startups and provides practical advice.

  • Many successful startups begin as side projects, helping founders build skills, test ideas, and gain early traction before fully committing.

  • Living in startup hubs or surrounding yourself with ambitious, like-minded individuals can provide better opportunities and motivation.

• Staying vigilant on deepfakes and emerging AI threats

  • Brian Long, co-founder of Adaptive, joins a16z to discuss the rapid evolution of AI-driven threats.

  • Deepfakes and AI-generated misinformation are becoming more realistic, making it easier to commit fraud, and large-scale deception.

  • Brian dives into the latest developments in adversarial AI, how organizations can stay ahead of evolving threats.

WORLD

• Canada to extend mineral exploration tax credit for two more years, minister says

  • Canada will extend a tax credit on mineral exploration for two additional years as part of the government's move to support investment.

  • The mineral exploration tax credit is a capital market tool that offers investors a 15% tax credit to invest in flow-through shares.

  • Canada has maintained a tough stance against investments from Chinese state-owned enterprises in domestic mining companies

• Israel halts aid to Gaza and proposes new framework for an end to the war

  • ​Israel has halted all humanitarian aid to Gaza to pressure Hamas into accepting a new ceasefire proposal.

  • The previous ceasefire, effective since January 19, facilitated significant aid deliveries and partial Israeli troop withdrawals.

  • The U.S.-backed proposal seeks to extend the truce through Ramadan and Passover, with Hamas releasing hostages in stages.

• Europe faces a ‘once in a generation moment’ as leaders discuss ending war in Ukraine

  • British Prime Minister Keir Starmer rallied his European counterparts Sunday he announced outlines of a plan to end Russia’s war.

  • “Every nation must contribute to that in the best way that it can, bringing different capabilities and support to the table,” he said.

  • Starmer used the opportunity as part of his broader effort to bridge the gap between Europe and the U.S.

AND MORE…

• Siri’s real AI upgrade could still be years away

  • Apple’s plan for a fully AI-powered Siri has been pushed back to at least iOS 20 due to internal challenges and resource constraints.

  • To bridge the gap, Apple will introduce limited AI enhancements in iOS 18.5, though they will function separately from Siri’s existing framework.

  • While Apple struggles with AI integration, Amazon is launching Alexa+ next month with advanced generative AI.

• Mark Cuban offers to fund government tech unit that was cut in the middle of the night

  • Billionaire investor Mark Cuban has offered to fund a consulting firm composed of recently laid-off employees from the General Services.

  • This proposal follows the abrupt shutdown of 18F, a unit known for assisting government agencies in developing technology solutions.

  • Cuban's proposal suggests that these skilled tech professionals could form a consulting company to address challenges arising.

• FAA staff reportedly ordered to find funding for deal with Musk’s Starlink

  • FAA officials have instructed staff to identify funds to support a deal with Starlink, aiming to enhance air traffic control communications.

  • Lawmakers have expressed worries about potential conflicts of interest, given Musk's government role.

  • Elon Musk has publicly criticized the current system's reliability, advocating for Starlink's involvement to improve aviation safety.