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

In today’s edition we are tackling the following:

📞 Google’s AI Mode gets Gemini 2.5 Pro to automate business phone calls.
📉 Scale AI lays off 14% of staff despite recent Meta investment.
🌋 Iceland’s volcanic eruption forces evacuations near Blue Lagoon tourist sites.
💸 Nvidia vows to recover China sales as H20 ban is lifted.
🕵️ U.S. military intercepts Iran-backed missile and drone shipment to Yemen.

TECHNOLOGY

• Google rolls out AI-powered business calling feature

  • Google’s AI Mode now includes Gemini 2.5 Pro, enhancing context awareness and voice-based assistant features.

  • Businesses can use the new AI calling tool to automate client interactions using natural-sounding voice responses.

  • The tool is aimed at small businesses seeking scalable customer support without building custom AI agents.

• Google Pixel 10 Pro Fold 10 rumored to get water and dust resistance

  • The Pixel Fold 10 may finally get an IP rating, improving durability against water and dust exposure.

  • Google is reportedly developing new hinge and sealing technology to meet stricter resistance standards.

  • This shift could put Pixel Fold on par with Samsung’s foldables, addressing a major consumer complaint.

• Samsung Galaxy Watch 8 may support Android 16 redesign

  • Galaxy Watch 8 is likely to launch with Android 16’s new Wear OS UI overhaul.

  • Leaks suggest older Samsung watches, including Galaxy Watch 6, may not get the full redesign update.

  • The update features revamped animations and layout, focused on improving glanceable information and interactions.

BUSINESS

• Nvidia chief vows to ‘accelerate recovery’ of China sales as H20 chip ban lifted

  • Nvidia plans to ramp up H20 chip shipments to China after the U.S. eased restrictions.

  • CEO Jensen Huang said the company is positioned to regain ground in the Chinese AI market.

  • Analysts expect aggressive price competition and faster rollout of new AI computing hardware.

• Scale AI to cut 14% of staff following Meta investment

  • Scale AI will lay off 14% of employees as part of a broader operational restructuring.

  • The cuts come weeks after Meta’s major investment, signaling a strategic realignment at Scale.

  • CEO Alexandr Wang emphasized focus on efficiency and prioritizing enterprise AI partnerships.

• Dollar rides Treasury yields higher, Trump’s tariffs begin to bite

  • U.S. dollar strengthened alongside Treasury yields as traders absorbed tariff and rate expectations.

  • Trump’s new trade measures are starting to weigh on Chinese exports and commodity markets.

  • Market volatility is expected to persist as investors monitor Fed moves and geopolitical developments.

MARKETS

WORLD

• US Military Says Yemeni Force Seized Iranian Arms Shipment Bound for Houthis

  • U.S. Central Command confirmed allied Yemeni forces intercepted a weapons shipment from Iran to the Houthis.

  • The cargo included missile components and drones, violating UN resolutions against arms transfers.

  • Washington emphasized continued maritime security operations to counter Iran-backed destabilization efforts.

• Iceland Volcano Erupts, Sends Lava Toward Tourist Sites

  • A volcanic eruption in Iceland's Reykjanes Peninsula is threatening the Blue Lagoon and nearby towns.

  • Emergency crews are evacuating residents in Grindavík and setting up lava barriers to minimize damage.

  • Officials warned tourists to avoid the area, citing unpredictable magma flows and toxic gas emissions.

• Netanyahu Faces Ultra-Orthodox Backlash Over Military Draft Ruling

  • Israel’s Supreme Court ruled to end draft exemptions for ultra-Orthodox men, escalating political tensions.

  • Prime Minister Netanyahu is caught between legal mandates and pressure from religious coalition allies.

  • The decision reignited national debates on equality, military service, and religious privilege in Israel.

CONTENT

• 5 Businesses I'd Start If I Was 22 Again ($500 → $100k/Month)

  • Greg Isenberg shares low-cost startup ideas using tools like Notion, Circle, and GPT to build traction.

  • Concepts include a job rejection tracker, a digital detox group, and a creator matchmaking agency.

  • He emphasizes skill-building and validation over scalability, targeting entrepreneurs in their twenties.

• The Jamie Dimon Interview: How JP Morgan Became an $800 Billion Bank

  • Jamie Dimon recounts his journey from Citigroup's ousting to building JPMorgan Chase’s banking empire.

  • He explains the fortress balance sheet strategy and decisions made during major financial crises.

  • The interview covers his views on systemic importance, acquisitions, and managing through volatility.

• Talking to a billionaire about how he uses ChatGPT

  • Dharmesh Shah discusses using ChatGPT for automation, tool orchestration, and decision-making workflows.

  • He breaks down how vector embeddings and context windows shape AI utility for technical leaders.

  • The conversation explores agentic AI, talent poaching by Meta, and the future of AI-first managers.

FUTURISM

• Anthropic Hires Back Two Coding AI Leaders

  • Anthropic rehired key researchers from Anysphere, maker of the AI coding tool Cursor.

  • The move strengthens Anthropic's push to dominate code generation and developer productivity tools.

  • Anysphere’s tech is seen as one of the strongest GitHub Copilot competitors in the market.

• Google AI Phone Calls Upgrade Adds Gemini to AI Mode

  • Google’s AI-powered calling service now features Gemini 2.5 Pro for smarter responses.

  • The upgrade helps handle restaurant bookings, customer support, and automated business interactions.

  • This is part of Google’s broader Gemini integration strategy across Android and Pixel devices.

• xAI Is Hiring an Engineer to Make Anime Girls

  • Elon Musk’s xAI posted a job listing seeking engineers to build anime-style AI characters.

  • The role blends animation, LLM integration, and interactive storytelling aimed at companionship tools.

  • It’s part of xAI’s unusual path toward mainstream consumer AI adoption through culture-driven experiments.

EXTRAS

• Beeper’s all-in-one messaging app relaunches with an on-device model and premium upgrades

  • Beeper now uses a local AI model to unify iMessage, WhatsApp, and more in one app.

  • A new paid tier offers faster syncing, advanced filters, and support for additional messaging services.

  • The relaunch follows its acquisition by Automattic, aiming to enhance user privacy and control.

• Trump’s Coke obsession boosts real cane sugar Mexican version

  • Trump reportedly demands Mexican Coke, made with real sugar, at all campaign stops.

  • The Coca-Cola variant is now trending online, with fans praising its flavor over corn syrup.

  • Some retailers are seeing a surge in demand linked to Trump’s vocal product preference.

• Goldman Sachs beats Q2 earnings expectations with $2.9 billion profit

  • Goldman Sachs reported $2.9 billion in profit for Q2, exceeding analyst forecasts.

  • Investment banking revenue grew 12% year over year, helping offset declines in trading income.

  • CEO David Solomon emphasized stronger client activity and improved M&A momentum.

AND MORE

• Oil prices fall as U.S. fuel inventories rise despite demand growth.

• Israel launches airstrikes in Damascus, targeting Syrian defence facilities.

• U.S. producer prices stay flat in June, tariffs keep goods costs high.

• Scale your machine learning projects faster with AI Devvvs, cutting costs and finding specialized talent in record time.*

• China pushes to normalize ties with EU before major summit.

• Trump says he’s not firing Fed Chair Powell, calming financial markets.

• Bahrain unveils $17B U.S. investment plan, focused on tech and energy sectors.

• Russian drone strike hits Ukraine energy hub, injures at least fifteen.

• Learn how to build habits that stick and make progress toward your goals every day with James Clear.*