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

In today’s edition we are tackling the following:

💶 X deactivates EU Commission’s ad account after the company was fined €120M.
🕶️ Meta delays mixed reality glasses until 2027 to ensure better quality.
🎬 Netflix’s co-CEO reportedly discussed a Warner Bros. acquisition deal with Trump.
🍊 Trump slams pardoned Henry Cuellar as ‘disloyal’ for not switching parties.
📉 China’s exports to the U.S. continued steep declines, dropping 29%.

TECHNOLOGY

• X deactivates European Commission’s ad account after the company was fined €120M (TechCrunch)
  ^{_{More: Tech Buzz, European Commission}}

  • The EU fined X €120 million for deceptive blue checkmarks and failing key transparency requirements.

  • X must address concerns within strict deadlines or risk harsher penalties, prompting Musk’s fiery public backlash.

  • X’s product chief accused the European Commission of abusing a dormant ad account to exploit platform tools.

• Meta delays mixed reality glasses until 2027 to ensure better quality (Reuters)
  ^{_{More: TechCrunch, Yahoo!, Business Insider}}

  • Meta postponed its Phoenix mixed reality glasses from late 2026 to early 2027 for refinement.

  • Internal memos cite Zuckerberg urging teams to prioritize sustainable business models and higher-quality user experiences.

  • Meta leaders say the delay allows time to perfect critical details as metaverse budgets face major cuts.

• OpenAI says it’s turned off app suggestions that look like ads (TechCrunch)
  ^{_{More: Engadget, Ben’s Bites}}

  • OpenAI denies running ads in ChatGPT but admits recent promotional-style suggestions confused and frustrated subscribers.

  • Executives say the messages were tests of app recommendations without payments involved, yet skepticism remains strong.

  • OpenAI paused these suggestions while improving precision and plans clearer user controls to avoid ad-like experiences.

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BUSINESS

• Netflix’s co-CEO reportedly discussed a Warner Bros. acquisition deal with Trump (Bloomberg)
  ^{_{More: TechCrunch, The Wrap}}

  • Netflix pursued an $82.7 billion Warner Bros. acquisition, prompting questions about federal regulatory approval.

  • Reports say Ted Sarandos met Trump, who signaled he wouldn’t block a high-bidder sale.

  • Warner Bros. opened bidding after internal reluctance, allowing Netflix to win despite potential Paramount resistance.

• Trump slams pardoned Democratic congressman as ‘disloyal’ for not switching parties (AP)
  ^{_{More: CNBC, WSJ, ABC}}

  • Trump lashed out at Rep. Henry Cuellar for staying Democratic despite receiving a presidential pardon.

  • Cuellar defended his decision, stressing country over party and his continued willingness to work with Trump.

  • Trump accused Cuellar of aiding Democrats who prosecuted him, vowing he won’t offer similar favors again.

• Bessent predicts the U.S. will end the year with strong 3% GDP growth (CNBC)
  ^{_{More: MSN, CBS}}

  • Treasury Secretary Bessent says the holiday shopping season is strong and expects 3% real GDP growth.

  • He notes earlier quarters delivered robust GDP gains despite a Schumer shutdown and consumer pessimism.

  • Consumer sentiment remains low despite rising GDP, with surveys showing Americans still feeling economic strain.

MARKETS

WORLD

• China’s exports to the U.S. continued steep declines, dropping 29% in November (CNBC)
  ^{_{More: Reuters, Yahoo!}}

  • China’s overall exports jumped 5.9% in November, far exceeding forecasts and reversing October’s contraction.

  • U.S.-bound shipments fell for the eighth month despite a trade truce, highlighting persistent bilateral strain.

  • Imports rose only 1.9%, missing expectations as weak housing and job insecurity continued to suppress domestic demand.

• Coinbase resumes onboarding in India and plans a fiat on-ramp next year (TechCrunch)
  ^{_{More: Yahoo!, MSN}}

  • Coinbase reopened registrations in India after two years and plans a fiat on-ramp launch in 2026.

  • The company previously exited due to UPI barriers and later reentered after engaging with India’s FIU.

  • Despite heavy crypto taxes, Coinbase remains optimistic, investing locally and expanding its 500-plus India team.

• The UN says it needs $33B as crises grow and funding declines (Bloomberg)
  ^{_{More: Reuters, Yahoo!}}

  • The UN slashed its aid appeal to $23 billion after donor funding plunged despite rising global crises.

  • Officials warn the cuts force brutal choices, leaving tens of millions without help and straining overwhelmed agencies.

  • Next year’s plan prioritizes 87 million people, with major appeals for Gaza, Sudan, and Syria amid worsening conditions.

FUTURISM

• SoftBank is negotiating to acquire DigitalBridge and take the company private (Bloomberg)
  ^{_{More: Reuters, Yahoo!, MSN}}

  • SoftBank is in talks to buy DigitalBridge as it targets growth in AI-powered digital infrastructure.

  • The Japanese conglomerate aims to acquire the New York–listed firm and transition it into a private company.

  • Negotiations remain confidential, with discussions focused on capitalizing on rising demand for data-center assets.

• AI-powered police body cameras are being tested using a Canadian city’s facial watch list (AP)
  ^{_{More: Yahoo!, NY Post}}

  • Edmonton police are testing AI body cameras that scan 7,000 faces on a high-risk watch list.

  • Axon’s move revives controversy after previously halting facial recognition due to major ethical and privacy concerns.

  • Experts warn the pilot lacks sufficient public debate, testing, and oversight despite significant societal and surveillance risks.

• AI startup Parloa is seeking $200M in a new funding round (Bloomberg)
  ^{_{More: Investing.com, Tech in Asia}}

  • German AI startup Parloa is pursuing a major funding round to significantly boost its valuation.

  • The company is in discussions with investors like General Catalyst to raise roughly $200 million.

  • Parloa targets a valuation between $2 billion and $3 billion as talks progress privately.

CONTENT

• Dylan Field explores AI’s impact on design and his evolving leadership approach (The Prof G Pod)

  • Dylan Field shares how AI is reshaping modern design workflows and why collaboration matters more than ever.

  • He reflects on Figma’s journey from early struggles to IPO pressures and evolving leadership responsibilities.

  • Field discusses integrating AI into Figma, protecting designers’ roles, and guiding founders toward future-focused innovation.

• Edwin Chen explains how his 100-person company became crucial for frontier AI (Lenny's Podcast)

  • Surge AI achieved over $1 billion revenue with fewer than 100 employees by obsessing over quality.

  • The company trains AI models using elite data and RL environments, influencing coding, writing, and evaluations.

  • Edwin Chen emphasizes human judgment, company values, and taste as key factors shaping leading AI models.

• Jesse Cole shares journey from living in a garage to Savannah Bananas success (My First Million)

  • Jesse Cole built the Savannah Bananas from $260 and 200 fans to a billion-dollar brand.

  • He credits creativity, persistence, and lessons from entertainment legends for developing Banana Ball and fan experiences.

  • Cole emphasizes idea generation, overcoming embarrassment, and extreme hard work as keys to entrepreneurial success.

EXTRAS

• Nordic countries share strategies for staying upbeat during long, dark winter months (AP)
  ^{_{More: Washington Times, Yahoo!, NBC}}

  • Nordic experts explain how residents mentally and physically manage extremely dark, freezing months each winter.

    Winter blues can last from October to April, making healthy coping strategies essential for well-being.

    Suggestions focus on finding light, embracing outdoor habits, and maintaining routines to support mood stability.

• Married millennials face a growing crypto divorce challenge as assets complicate separations (CNBC)
  ^{_{More: Blockchain News}}

  • Divorce laws have not adapted to cryptocurrency, even as millennials enter peak separation years.

  • Couples must decide how to divide crypto assets, whether on-chain, in fiat, or via asset offsets.

  • Many women face hidden risks because spouses hold undisclosed crypto investments during divorce proceedings.

• Thailand launches airstrikes near Cambodia as border tensions flare again (AP)
  ^{_{More: Reuters, Yahoo!, Sky News}}

  • Thailand carried out airstrikes after both countries accused each other of violating a fragile ceasefire.

  • Recent clashes follow deadly July fighting, despite a U.S.-brokered truce meant to stabilize relations.

  • Over 35,000 residents fled border areas as Thailand vowed self-defense and protection of sovereignty.

AND MORE

• A human-centered approach shows why taste matters when creating impactful AI ideas.

• Why a top U.S. intelligence senator demands expanded surveillance on Chinese firms.

• Starlink enabled remote work everywhere, but I’m ready for a new alternative.

• Reading these letters will give you a look inside the minds of some of the greatest leaders of our time.*

• How the Netflix and Warner Bros deal is reshaping Hollywood today.

• Google Glass inspired smart-glasses dreams but created major problems along the way.

• Germany accelerates anti-drone defenses as dangerous airport incursions rapidly increase.

• Why your crypto wealth may never securely reach your next generation.