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

In today’s edition we are tackling the following:

💥 South Korea enforces martial law amid mass protests.
📉 France faces a no-confidence vote, pushing the government closer to collapse.
📢 Meta softens content moderation policies to align Trump-era strategies.
🧠 Amazon announces Nova, a multimodal AI suite to rival Google and Microsoft.
⚔️ NATO pushes for increased support to strengthen Ukraine’s position.

TECH

• Meta admits to overreaching on content moderation, courts Trump

  • Meta conceded it was ‘too heavy-handed’ on pandemic content moderation, signaling a softer stance to Donald Trump.

  • Mark Zuckerberg aims to shape tech policy under Trump, emphasizing AI leadership amid global uncertainties.

  • Zuckerberg's efforts include AI investments, a Mar-a-Lago dinner with Trump, and navigating complex political dynamics.

• Amazon Is Building a Mega AI Supercomputer With Anthropic

  • Amazon partners with Anthropic to develop a supercomputer using Trainium 2 chips; aims to be the world's largest AI machine.

  • AWS introduces Trn2 UltraServer clusters, offering 30-40% cost savings over Nvidia GPU-based clusters.

  • Trainium 3 chip, promising fourfold performance increase, expected to be available to customers in late 2025.

• ChatGPT's search results are 'unpredictable' and often inaccurate, study finds

  • Tow Center researchers found ChatGPT's search tool provides incorrect or misleading information.

  • In tests with 200 quotes, ChatGPT misattributed sources in 153 instances, expressing uncertainty.

  • OpenAI acknowledges the findings and commits to enhancing the accuracy of ChatGPT's search capabilities.

BUSINESS

• China bans exports of critical minerals to the US amid escalating trade tensions

  • China halts exports of gallium, germanium, and antimony to the US, citing national security concerns.

  • The ban follows US restrictions on China's chip sector, intensifying the tech trade conflict.

  • These minerals are vital for semiconductors and military applications, impacting global supply chains.

• Nearly 100,000 Volkswagen workers strike across Germany over cost-cutting plans

  • Around 98,650 Volkswagen employees in Germany conducted two-hour strikes at nine plants.

  • The industrial action protests proposed wage cuts and potential factory closures aimed at reducing costs.

  • Union IG Metall warns of further protests if Volkswagen doesn't reconsider its cost-cutting strategies.

• BlackRock agrees to buy investment firm HPS in $12bn deal

  • BlackRock to acquire HPS Investment Partners for $12 billion, enhancing its private credit portfolio.

  • The all-stock deal will increase BlackRock's alternative assets to nearly $600 billion, nearing competitors like KKR.

  • HPS's leadership, including CEO Scott Kapnick, will join BlackRock's executive committee; deal expected to close in 2025.

CONTENT

• Andrew Huberman on The Shawn Ryan Show

  • Stanford neuroscientist Andrew Huberman discusses brain plasticity, stress, sleep, and performance.

  • His work, recognized with awards like the McKnight Neuroscience Scholar Award, informs practical mental and physical health tools.

  • Host of the Huberman Lab Podcast, he explores focus, resilience, and training strategies for global audiences.

• Nik Storonsky, Revolut Founder: What Revolut Needs to Do to Hit $100BN Valuation

  • CEO of Revolut, one of the fastest-growing companies in the world with a $45BN valuation and 50M customers around the world, joins 20VC.

  • Discussed; KPI-based leadership, building & hiring team, along with how brand marketing has evolved.

  • Also takeaways from the banking license process, relationship with regulators, lessons around crypto and more.

• Richard Butler on Nuclear Diplomacy and Disarmament - SRS Podcast

  • Richard Butler reflects on his career, including leading roles in the Nuclear Non-Proliferation Treaty and CTBT frameworks.

  • Topics include multilateral diplomacy, monitoring nuclear tests, and 21st-century disarmament challenges.

  • Butler shares insights from his time as Ambassador for Disarmament and working with Gough Whitlam.

WORLD

• South Korea president lifts martial law

  • President Yoon Suk Yeol declared martial law, citing threats from pro-North Korean forces and opposition activities.

  • The National Assembly voted to overturn the martial law declaration, leading to clashes between military forces and protesters.

  • The situation has raised concerns about political stability and potential escalation with North Korea.

• France faces political instability as government nears collapse

  • Prime Minister Michel Barnier is set to face a no-confidence vote over the budget, which he is expected to lose.

  • The minority government has struggled with opposition from both left-wing and populist right parties.

  • The impending collapse could lead to prolonged political instability and challenges in governance.

• NATO chief wants less talk of peace and more arms

  • NATO Secretary General Mark Rutte advocates for strengthening Ukraine's military position before engaging in peace negotiations.

  • He cautions against pushing Ukraine into unfavorable peace deals, highlighting threats from China, Iran, and North Korea.

  • Rutte underscores the importance of continued support to ensure Ukraine's defense capabilities.

AND MORE…

• Amazon announces Nova, a new family of multimodal AI models

  • At re:Invent 2024, AWS unveils Nova, a suite of generative AI models capable of processing text, images, and video.

  • Nova models are integrated into Amazon Bedrock, facilitating the development of diverse AI applications.

  • This launch positions AWS competitively in the generative AI sector, challenging offerings from Google and Microsoft.

• Belgium grants sex workers full labor rights under new law

  • Belgium's new law gives sex workers access to contracts, maternity leave, pensions, and other social protections.

  • Employers must meet strict safety standards, such as clean facilities and emergency measures, and cannot have criminal histories.

  • Advocates hail the law as a breakthrough for safety and equity, but critics argue it could perpetuate exploitation and exclude marginalized workers.

• Walmart completes $2.3B acquisition of Vizio to enhance ad business

  • Walmart finalizes the purchase of Vizio for $2.3 billion, aiming to boost its advertising capabilities.

  • The acquisition allows Walmart to integrate Vizio's smart TV platform into its retail media network.

  • This strategy is expected to enhance targeted advertising and data analytics for Walmart's ad clients.