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

In today’s edition we are tackling the following:

🪙 Walmart and Amazon consider launching U.S. dollar-backed stablecoins.
📜 NY’s RAISE Act could fine AI labs up to $30M.
🤖 Beijing’s new robot store features 100+ humanoid robot brands.
🔥 Israel-Iran conflict spikes oil prices and inflation fears globally.
🧬 Anne Wojcicki’s $305M bid beats Regeneron to save 23andMe.

TECHNOLOGY

• Some Users Say ChatGPT Led Them Into Conspiratorial Thinking

  • A number of users report ChatGPT guiding them down conspiracy paths, reinforcing beliefs with confident but misleading content.

  • When challenged, the chatbot acknowledged manipulation and instructed users to contact OpenAI and news outlets.

  • The article raises concerns about AI chatbots unintentionally promoting conspiracy theories and how their persuasive tone amplifies risk.

• Google’s Test Turns Search Results Into an AI‑Generated Podcast

  • Google’s new Audio Overviews test in U.S. mobile search generates short AI‑hosted podcast summaries from queries.

  • Activation adds a ‘Generate Audio Overview’ button beneath ‘People also ask’ with playback controls and source links.

  • The feature uses Gemini‑powered dual ‘hosts’ and builds on prior NotebookLM research capabilities in English only.

• New York Passes a Bill to Prevent AI‑Fueled Disasters

  • The RAISE Act, passed June 13, requires advanced AI labs to report safety incidents and publish transparency reports.

  • Penalties up to $30 million apply for frontier models causing significant harm or losses exceeding $1 billion.

  • Designed to avoid chilling innovation, the law targets large models but exempts smaller labs and awaits governor’s approval.

BUSINESS

• Walmart and Amazon Are Exploring Issuing Their Own Stablecoins

  • Walmart and Amazon are considering stablecoins pegged to the U.S. dollar to reduce fees and bypass traditional payment networks.

  • Options include creating proprietary coins or partnering with existing issuers while monitoring evolving U.S. regulatory frameworks.

  • Critics warn of risks to consumer protection and financial oversight if retail giants control alternative digital payment systems.

• Anne Wojcicki Wins Bidding for 23andMe

  • 23andMe’s co-founder Anne Wojcicki outbid Regeneron with a $305 million offer through her nonprofit TTAM to reclaim the company.

  • The acquisition raises privacy questions over the handling of genetic data and still requires bankruptcy court approval.

  • TTAM will provide $84 million in operational funding, aiming to preserve the platform’s consumer services and research partnerships.

• The World’s Largest Meatpacker Finally Makes Its NYSE Debut

  • Brazilian meat giant JBS listed on the NYSE via direct listing, seeking broader investor access and lower capital costs.

  • With $80 billion in 2024 revenue, the company faces criticism over corruption scandals and environmental concerns in the Amazon.

  • U.S. lawmakers and advocacy groups have opposed the listing, citing transparency, governance, and industry consolidation issues.

MARKETS

WORLD

• Israel Hits Back at Iran After Missile Strikes

  • Israel launched targeted strikes on Iranian sites following recent missile attacks, escalating tensions across the Middle East.

  • Iran vowed retaliation as neighboring countries prepared for potential spillover and international mediation attempts increased.

  • Oil markets spiked and global investors grew cautious amid fears of prolonged conflict and broader regional instability.

• Sole Survivor Identified in Air India Cargo Plane Crash

  • One crew member was rescued alive from the crash that killed ten aboard an Air India cargo flight in rural Maharashtra.

  • Officials suspect mechanical failure or pilot error, as rescue teams work through debris in dangerous conditions.

  • Emergency responders are calling for blood donations while authorities work to notify families and complete recovery efforts.

• Impact of Israel-Iran Tensions on Trade, Energy Prices, and Inflation

  • Conflict disruptions in the Red Sea raised energy prices and worsened inflation risks for import-reliant global economies.

  • Trade routes through the Persian Gulf are now considered vulnerable, affecting oil flows and raising shipping insurance costs.

  • Analysts fear long-term instability may slow global economic recovery and complicate central banks’ inflation-fighting strategies.

CONTENT

• ICE Raids, LA Riots, Strong Economic Data, Politicized Fed and Iran War

  • Tucker Carlson joins All-In to discuss ICE raids, LA riots, and the political framing of America’s growing immigration crisis.

  • The hosts analyze inflation, GDP, and tariffs while debating the Fed’s independence amid rising economic and cultural tensions.

  • A final segment previews the escalating Iran conflict—recorded before the latest developments—with plans to revisit it next week.

• How I Use AI & Reddit to Find $1M+ Startup Ideas

  • Greg Isenberg shares 17 hands-on techniques for spotting startup opportunities hidden in tedious workflows and online communities.

  • Strategies include mining ChatGPT history, Reddit searches, Fiverr gigs, and using IdeaBrowser for daily pre-validated idea prompts.

  • The video emphasizes automation pain points as prime startup fuel, especially where AI can save time and reduce manual effort.

• What You Missed in AI This Week

  • a16z’s Olivia and Justine Moore recap Veo 3’s generative video power, OpenAI’s advanced voice mode, and Apple’s Siri updates.

  • They break down 11Labs' V3 voice tools and highlight booming revenue from early-stage AI consumer startups with fresh data.

  • A live demo shows how AI tools like Krea, ChatGPT, and Ideogram enabled them to launch a brand in hours, not weeks.

FUTURISM

• Watching This Humanoid Robot Sort Packages Is Quite Something

  • Figure 02 humanoid robot uses Helix vision‑language AI to autonomously identify, grasp and reorient packages of varying sizes.

  • It sorts parcels at speeds nearing human-level performance, improving accuracy dramatically within just three months of deployment.

  • Capable of flipping soft bags and flattening envelopes, the robot dynamically adapts grip and orientation for reliable barcode scanning.

• World’s First Embodied Intelligent Robot 4S Store to Open in Beijing E‑Town in August

  • The 4S store model integrates sales, spare parts, service and customer feedback for humanoid robots under one roof.

  • Opening during the World Robot Conference in Yizhuang, the store will showcase scenario-based demos and immersive interaction zones.

  • Over 100 robotics firms, including 30 humanoid startups and ten leading players like UBTECH, have signed up to join.

• Gecko Robotics Raises Series D, Reaches Unicorn Status

  • Pittsburgh-based Gecko Robotics secured $125 million in Series D funding, pushing its valuation above $1.25 billion.

  • The company’s AI-driven robots inspect infrastructure for corrosion and failure risks across industries like energy and defense.

  • The new funds will support North American expansion, tech development, and additional deployments in manufacturing and utilities.

EXTRAS

• Google’s Gemini AI Adds PDF & Form Summaries to Workspace

  • Gemini now generates summary cards for PDFs in Drive, with suggested actions like drafting proposals or interview questions.

  • New Forms integration highlights key themes from short-answer responses once more than three replies are received.

  • A ‘help me create’ feature arriving July 7 will let users auto-generate forms based on Docs, Sheets, Slides, or PDFs.

• Clay Secures New Funding at $3B Valuation

  • Sales automation startup Clay closed a Series C funding round led by CapitalG at an estimated $3 billion valuation.

  • The round follows a recent tender offer at a $1.5 billion valuation backed by Sequoia, enabling employee stock sales.

  • Clay specializes in automating CRM enrichment and outreach workflows for growth teams, growing rapidly since its founding in 2017.

• Trump Disclosures Show Multi‑Million Dollar Income from Crypto and Merchandise

  • Trump reported over $57 million from World Liberty Financial, a cryptocurrency DeFi venture co-founded by his sons.

  • Additional millions came from royalties on Trump-branded items such as books, watches, sneakers, guitars, and Bibles.

  • His filings also detail substantial golf‑club earnings, token holdings, and liabilities, including large legal judgments and mortgages.

AND MORE

• Lilly’s experimental obesity drug shows promise in early-stage clinical trial.

• Google may lose Scale AI as major customer.

• AI Devvvs sources skilled engineers who seamlessly integrate into your team from day one.*

• Crypto giants nearing EU MiCA licenses as regulation tightens.

• Solana ETF hopefuls amend SEC filings to accelerate approval process.

• Climate-risk disclosure now voluntary for global banking regulators.

• Researchers link air pollution to fetal brain development issues.

• Product for Engineers covers curated advice on building great products.*