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

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

📱 CatWatchful stalkerware leak exposes private data from thousands of Androids.
🤖 AI threatens white-collar roles as firms replace mid-level professionals with bots.
🚢 Ferry sinks off Bali, killing at least 6 with dozens still missing.
🔥 Wildfires force evacuations in Crete amid deadly southern Europe heatwave.
🏦 Stripe’s first employee quietly acquires a U.S. bank to power fintech startup.

TECHNOLOGY

• Samsung Galaxy TriFold surfaces in leaks ahead of One UI 8

  • Leaked renders showcase Samsung’s upcoming Galaxy TriFold with a three-panel foldable form factor and minimal bezels.

  • The device is expected to debut with One UI 8, offering seamless app continuity and improved multitasking across all screens.

  • Samsung aims to stand out in foldable innovation, building on the existing Galaxy Fold and Flip success with enhanced screen real estate.

• Apple iPhone 17 promises key styling upgrade, says new leak

  • Leaks suggest the iPhone 17 will feature a redesigned rear camera module with flatter lenses and a slimmer chassis.

  • Rumoured to include USB‑C charging, enhanced haptics, and an improved display with adaptive refresh up to 120Hz.

  • Apple may introduce more durable materials and pastel colour options, leaning into a more modern yet refined aesthetic.

• ‘CatWatchful’ stalkerware breach exposed thousands of Android users

  • A breach in CatWatchful–a phone monitoring tool—exposed private messages, GPS locations, and contact logs of thousands.

  • The malware had been easily installable via APK outside official app stores and used stealth permissions to evade detection.

  • Security experts warn users to monitor unknown apps, review permissions, and scan devices after potential stalkerware infections.

BUSINESS

• AI-driven automation is putting white-collar jobs at risk

  • AI tools are beginning to handle tasks traditionally done by professionals, including legal drafting, financial analysis, and coding.

  • Large organizations are piloting AI to reduce headcount in mid-level roles, with early projections suggesting significant cost savings.

  • Job displacement fears are rising, but experts note potential for new roles in AI oversight, data strategy, and human–AI collaboration.

• Stripe’s first employee and Increase founder sort of bought a bank

  • Michael Galgano, Stripe’s earliest hire, is acquiring a small bank to offer embedded financial services through his new fintech, Increase.

  • The bank purchase enables an Increase in control of payment infrastructure and underwriting, reducing reliance on third-party partners.

  • Increase plans to leverage this setup to provide real-time payouts, credit products, and financial tools directly to platform businesses.

• Tax cuts for the wealthy sparked fierce policy debate

  • A recent tax cut package has overwhelmingly favoured high-income households, prompting criticism from Democrats and economists.

  • Critics argue the cuts undermine equity goals, while supporters claim they will spur investment and broader economic growth.

  • The debate sets the stage for upcoming midterm elections, highlighting tensions over fiscal policy and income distribution.

MARKETS

WORLD

• Retailers respond to Trump–Vietnam trade deal

  • U.S. retailers like Nike and Adidas are concerned about new tariffs—20% on direct imports, 40% on transshipped goods.

  • Vietnam’s reliance on Chinese component imports may trigger higher duties, complicating supply chain planning and pricing.

  • The agreement offers some relief compared to initial fears, but experts warn it still clouds sourcing decisions for apparel brands.

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

  • Extreme heat has led to multiple deaths across southern Europe and triggered wildfires in Spain and Turkey.

  • Authorities closed schools, restricted outdoor work, and opened cooling centres to protect vulnerable populations.

  • Climate experts warn the pattern reflects increasing temperature extremes and highlights the urgent need for adaptive action.

• A ferry sank near Bali, at least 6 dead and dozens missing

  • The KMP Tunu Pratama Jaya ferry sank en route from East Java to Bali during bad weather, carrying 65 people and vehicles.

  • Rescuers recovered six bodies and saved around 30 passengers; the search was suspended due to dangerous currents and visibility.

  • Rescue efforts continue amid worsening conditions as authorities weigh whether more lives may still be at risk.

CONTENT

• How to Compete with AI — and Win

  • Dharmesh Shah argues AI is not a threat but a tool to amplify human potential and opportunity.

  • He explains how even non-technical people can collaborate with AI through natural language, not coding.

  • The talk highlights how embracing AI early can future-proof careers and unlock new, better roles for workers.

• I’ve run 75+ businesses. Here’s why you’re probably chasing the wrong idea

  • Wilkinson shares how small, profitable niches beat flashy ideas when building sustainable internet businesses.

  • He breaks down how AI tools like Limitless and Replit now outperform personal assistants in daily operations.

  • The episode covers business heuristics, mental health, and why boring ventures often outperform high-growth plays.

• There is only one interpretation of quantum mechanics

  • Deutsch defends the many-worlds interpretation as the only logical conclusion of quantum physics, not a speculative idea.

  • He explores how scientific realism and multiverse theory help explain the nature of existence and branching realities.

  • The interview challenges misconceptions about quantum theory and offers a deep philosophical take on physical truth.

FUTURISM

• Why Cloudflare wants AI companies to pay for content

  • Cloudflare launched ‘Pay per Crawl,’ a system letting publishers charge AI bots each time they scrape website content.

  • The feature builds on bot-blocking tools and positions Cloudflare as central in enforcing fair content compensation.

  • The TechCrunch Equity podcast discusses whether this model is a game-changing solution or overly optimistic for creators.

• iOS 26 adds visual screenshot intelligence to let you add calendar events

  • iOS 26 introduces Visual Intelligence that suggests calendar entries directly from screenshots containing event info.

  • The feature accurately extracts dates, times, and locations in tests, though it only supports one event per screenshot.

  • Android’s Gemini-based tool remains more advanced, able to parse multiple events and adjust across time zones.

• OpenAI hires forensic psychiatrist to study mental health impact of its AI

  • OpenAI has hired a forensic psychiatrist to research how its AI tools affect users' mental well-being, especially delusional patterns.

  • The role complements studies showing some users develop obsessions or severe psychological distress after prolonged chatbot interaction.

  • OpenAI plans to collaborate with mental health experts and further quantify emotional risks from extended AI use.

EXTRAS

• Hamas seeks ceasefire guarantees as scores more are killed in Gaza

  • Hamas demands explicit guarantees that a proposed 60-day U.S.-mediated truce will lead to a permanent end to the Gaza war.

  • Israeli airstrikes killed at least 59 Palestinians in Gaza yesterday, including civilians at a school and an aid distribution site.

  • Indirect negotiations are expected soon in Egypt or Qatar, tying hostage exchanges and partial troop withdrawals to the ceasefire.

• Wildfires force evacuations in Crete during intense European heatwave

  • Fierce wildfires near Ierapetra have led to over 1,500 evacuations, fueled by gale-force winds and soaring summer temperatures.

  • About 230 firefighters, supported by helicopters and boats, are battling the blaze that threatens homes, hotels, and farmland.

  • The fires underscore climate-driven wildfire risks across southern Europe amid an exceptionally hot heatwave this summer.

• Denmark moves to suspend Hungary’s EU voting rights

  • Denmark initiated Article 7 proceedings to strip Hungary of its voting rights over blocking Ukraine’s accession.

  • The process could also involve freezing EU funds, signaling strong consequences for violations of democratic and rule-of-law standards.

  • The move illustrates rising EU tensions and Denmark’s resolve to enforce core bloc values amid internal political disputes.

AND MORE

• Nvidia briefly became the most valuable company ever, hitting a historic $3.3T valuation.

• The EU plans to have AI rule compliance guidelines by the end of 2025.

• AstraZeneca may sign a $15B cancer drug deal.

• Need to scale an AI team quickly? Athyna delivers vetted talent globally in under a week.*

• China’s tech firms seek yuan stablecoin licenses abroad.

• Ilya Sutskever leads new lab after Meta hires rival AI CEO.

• Turn complex tasks into stunning step-by-step video guides in seconds with Guidde.*

• U.S. lifts restrictions on chip software and ethane exports to China.