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

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

🍎 Apple plans to use Google’s 1.2T-parameter Gemini model for next-gen Siri.
💍 Ex-Meta staff unveil Stream, a smart ring for voice notes and media control.
💾 China orders removal of foreign AI chips from state data centers.
🔥 Tinder tests AI feature that learns user interests from photos.
🍔 McDonald’s sees steep decline in low-income customer traffic.

TECHNOLOGY

• Apple Plans to Use 1.2 Trillion Parameter Google Gemini Model to Power New Siri (Bloomberg) 
  _{^{More: TechCrunch, Reuters, MacRumors}}

  • Apple is finalizing a deal to pay Google approximately $1B annually for a custom Gemini model.

  • Model's 1.2 trillion parameters dwarf Apple's current 150 billion parameter cloud-based Apple Intelligence system significantly.

  • Partnership serves as an interim solution while Apple develops its own trillion-parameter model for 2026.

• Former Meta employees launch Stream, a smart ring that takes voice notes and controls music (TechCrunch) 
  _{^{More: Android Headlines, Yanko Design}}

  • Sandbar launches Stream ring at $249, featuring a whisper-sensitive microphone activated by touchpad press only.

  • The device doubles as a media controller and includes an AI chatbot that organizes thoughts into editable notes.

  • The company raised $13M from True Ventures, Upfront Ventures, and Betaworks for summer shipments.

• Google Maps' Gemini integration will make hands-free navigation more conversational (Engadget) 
  _{^{More: TechCrunch, Google Blog, ABC News}}

  • Gemini enables hands-free conversational navigation with natural language queries about restaurants and parking along routes.

  • Landmark-based navigation calls out visible buildings instead of distances, analyzing 250 million places with Street View.

  • Features rolling out to two billion Google Maps users on Android and iOS devices globally.

BUSINESS

• Google proposes app store reforms in settlement with Fortnite maker Epic Games (Reuters) 
  _{^{More: TechCrunch, Bloomberg}}

  • Google and Epic settled a five-year legal battle, capping Play Store fees between 9% and 20%.

  • Settlement requires Google to allow third-party app stores and alternative payment methods on Android devices.

  • Epic CEO calls proposal a comprehensive solution that doubles down on Android's vision as an open platform.

• France moves to suspend Shein's online market over listings for illegal firearms and sex dolls (New York Times) 
  _{^{More: CNN, Bloomberg, Washington Post}}

  • The French government suspended Shein's operations after third-party sellers listed childlike sex dolls and illegal weapons.

  • Suspension was announced hours after Shein opened its first physical store globally in Paris' BHV Marais.

  • The company suspended all third-party marketplace sales in France and banned sex dolls globally from the platform.

• McDonald's continues to lose low-income customers (Washington Post) 
  _{^{More: Fast Company, NBC News, Yahoo Finance}}

  • Traffic from low-income customers dropped nearly double digits industrywide during the third quarter, the CEO reports Wednesday.

  • Higher-income customer traffic grew nearly double digits, while lower earners face mounting grocery and rent pressures.

  • McDonald's rolled out $5 meal deals and $8 options to combat declining visits.

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MARKETS

WORLD

• China bans foreign AI chips from state-funded data centers, sources say (Reuters) 
  _{^{More: Bloomberg, Tom's Hardware, Yahoo Finance}}

  • China orders state-funded data centers under 30% completion to remove foreign AI chips immediately.

  • The directive requires the exclusive use of domestic chips from Huawei, Cambricon, and Enflame in government-backed projects.

  • Move eliminates Nvidia, AMD, and Intel from Chinese state infrastructure amid technology self-sufficiency push.

• Hamas returns the last dead American-Israeli hostage to Israel (Wall Street Journal) 
  _{^{More: ABC News, CBS News, Times of Israel}}

  • Hamas returned the remains of Itay Chen, the final American-Israeli hostage, after being held since the October 2023 attack.

  • Chen was nineteen when killed during combat at Kibbutz Nir Oz and declared dead in March 2024.

  • Twenty hostage bodies were returned under the ceasefire deal, with eight deceased hostages remaining in Gaza.

• Surrender to save yourselves, Russia urges Ukrainian troops in eastern city (NBC News) 
  _{^{More: Al Jazeera, Atlantic Council, Kyiv Independent}}

  • Russian forces claim Ukrainian troops are trapped in Pokrovsk while Ukraine deploys special forces with helicopters.

  • Street battles intensify in transport hub as Russia seeks leverage before potential peace negotiations resume.

  • Ukraine reports the situation is difficult but denies encirclement, stating two hundred to three hundred Russians inside.

FUTURISM

• Replika founder raises $20M pre-seed for Wabi, the ‘YouTube of apps’ (TechCrunch)

  _{^{More: StartupHub.ai, Cryptorank, AIMMedia}}

  • The startup Wabi, founded by the creator of Replika, secured a US$20 million pre-seed funding round.

  • Wabi positions itself as a social platform where users can build and share mini-apps without writing code.

  • The platform emphasizes discovery and remixability, aiming to democratize app creation for non-technical users.

• Apple Plans to Use 1.2 Trillion Parameter Google Gemini Model to Power New Siri (Bloomberg) 
  _{^{More: TechCrunch, Reuters, MacRumors}}

  • Apple is finalizing a deal to pay Google approximately $1B annually for a custom Gemini model.

  • Model's 1.2 trillion parameters dwarf Apple's current 150 billion parameter cloud-based Apple Intelligence system significantly.

  • Partnership serves as an interim solution while Apple develops its own trillion-parameter model for 2026.

• Tinder to use AI to get to know users, tap into their Camera Roll photos (TechCrunch) 
  _{^{More: Gizmodo, Tinder Help}}

  • Tinder is testing a Chemistry feature that accesses camera roll photos to learn user interests and improve matchmaking.

  • Feature piloting in Australia and New Zealand, positioned as a major pillar of the 2026 product experience.

  • Match Group expects $14M revenue impact from testing amid nine consecutive quarters of subscriber declines.

CONTENT

• Ari Emanuel on the Future of Entertainment (All-In Podcast)

  • Ari Emanuel explores how infinite distribution and AI are reshaping Hollywood, creator monetization, and global entertainment models.

  • He contrasts YouTube and Netflix strategies, predicting a new era of creator-owned IP and shortened attention-driven formats.

  • The discussion touches on work–life shifts, sports globalization, and his relationships with Michael Ovitz, Elon Musk, and his brothers.

• The High School Dropout Who Made Billions & Bought an NBA Team
  (My First Million)

  • Ryan Smith shares how he built Qualtrics into an $8B company and his unconventional path from dropout to NBA team owner.

  • He reflects on sales mastery, turning down $500M, and the focus habits that fueled his entrepreneurial edge.

  • The episode offers tactical insights on resilience, deal-making, and balancing ambition with grounded personal discipline.

• The Path to 150M+ Daily Roblox Users, Ketogenic Therapy for Brain Health, and More — CEO of Roblox (The Tim Ferriss Show)

  • Roblox CEO David Baszucki connects his son’s ketogenic therapy journey to broader innovation lessons in health and technology.

  • He discusses Roblox’s creator economy, AI safety infrastructure, and vision for immersive social and economic ecosystems.

  • Tim Ferriss and Baszucki explore the intersection of neuroscience, entrepreneurship, and the evolution of digital human connection.

EXTRAS

• Man gropes Mexican President as she speaks to citizens on the streets (The Guardian)

  _{^{More: CNN, Washington Post, BBC News}}

  • President Claudia Sheinbaum was groped by a man while greeting citizens during a walk in Mexico City.

  • Sheinbaum said she will press charges and called the incident emblematic of violence faced by women.

  • The event sparked national debate about presidential security and women’s safety in public spaces.

• Toyota to recall over a million US vehicles over camera flaw, NHTSA says (CBS News)

  _{^{More: Autoblog, AP News}}

  • Toyota is recalling about one million vehicles in the U.S. over a software issue affecting rear-view cameras.

  • The problem can cause backup camera images to fail, violating federal safety standards for visibility.

  • The fix will involve a free software update available at authorized Toyota and Lexus dealerships.

• New York Times tops estimates for subscriber adds on strong demand, bundling efforts (Reuters)

  _{^{More: The New York Times, TipRanks, Investing.com}}

  • The New York Times added nearly half a million digital-only subscribers in Q3, exceeding market forecasts.

  • Total subscriptions surpassed 12 million, fueled by the bundling of news, games, podcasts, and lifestyle products.

  • The company projects subscription revenue growth of up to 10% in Q4 amid steady digital momentum.

AND MORE

• China’s economy projected to exceed 170 trillion yuan (~US$23.9 trillion) by 2030, premier says.

• U.S. Supreme Court of the United States justices express doubt over the legality of President Trump’s sweeping tariffs.

• Global chip-stock rally loses US$500 billion as valuation concerns mount.

• Dive into the 100 Greatest Business Books Database.*

• Gold prices rebound 1.3% amid safe-haven demand despite strong U.S. jobs data.

• Startup Wabi raises US$20 million pre-seed round to enable “YouTube of apps” on consumer AI.

• Former Meta employees launch ‘Stream’ smart ring for voice notes and AI-assistant control.

• Switzerland’s government proposes recognition of yodeling as intangible cultural heritage at the United Nations Educational Organization.

• Oil settles at two-week lows amid glut fears despite stronger U.S. fuel demand signals.