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

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

🤝 Benchmark hires Jack Altman as GP, riding momentum from recent AI investments.
🕵️‍♂️ Research finds Intellexa Predator spyware hacked Angolan journalist’s iPhone device.
📉 Palo Alto shares dropped sharply after issuing a disappointing profit forecast.
🌍 US envoys handle two major crises simultaneously, raising doubts about success.
💰 Japan will invest $45B in US projects under the Trump trade deal.

TECHNOLOGY

• Benchmark hires Jack Altman as GP, riding momentum from recent AI investments (TechCrunch)
  ^{_{More: Bloomberg, Yahoo!, FindArticles}}

  • Benchmark appoints Jack Altman as general partner, marking a major shift for the traditionally flat venture firm.

  • Altman leaves Alt Capital after raising two fast funds and backing over fifty startups.

  • Altman will keep board seats and bring his team to Benchmark amid unanswered questions.

• Research finds Intellexa Predator spyware hacked an Angolan journalist’s iPhone device (Reuters)
  ^{_{More: TechCrunch, Bloomberg}}

  • Amnesty International says a government client used Intellexa spyware to hack an Angolan journalist’s phone.

  • Journalist Teixeira Cândido received malicious WhatsApp links in 2024, compromising an iPhone.

  • Researchers warn that commercial spyware is increasingly used by governments to target journalists and civil society critics.

• Meta research shows parental supervision barely curbs teens’ compulsive use (TechCrunch)
  ^{_{More: Tech Buzz, FindArticles}}

  • Internal Project MYST research with the University of Chicago found parental controls had a limited impact.

  • Testimony in the Los Angeles County Superior Court alleges that platforms created addictive products harming youth mental health.

  • Plaintiff sued Meta and YouTube, while ByteDance and Snap settled before trial.

BUSINESS

• Palo Alto shares dropped sharply after issuing a disappointing profit forecast (Bloomberg)
  ^{_{More: Yahoo!, MSN, CNBC}}

  • Palo Alto Networks shares fell nearly 6% after cutting full-year earnings guidance on Tuesday.

  • As of Feb. 13, 74% of S&P 500 companies reported, showing 13.2% blended earnings growth.

  • General Mills shares declined after weak results, while eToro stock rose more than 20%.

• Bayer agrees to $7.25B proposed settlement over thousands of Roundup cancer lawsuits (WSJ)
  ^{_{More: AP, The Independent, LA Times}}

  • Bayer and attorneys representing cancer patients proposed a $7.25B settlement in Roundup lawsuits.

  • The settlement does not affect the upcoming Supreme Court case on EPA approval of Roundup.

  • Bayer hopes the deal limits legal risks and ensures continued U.S. sales amid mounting costs.

• US envoys handle two major crises simultaneously, raising doubts about success (Reuters)
  ^{_{More: Straits Times, Japan Times, AOL}}

  • Trump assigned envoys Steve Witkoff and Jared Kushner to manage negotiations with Iran and Ukraine in Geneva.

  • Experts question whether envoys are overstretched and capable of resolving either of the long-running international crises.

  • Geneva was chosen for both talks, but critics say quality diplomacy may be sacrificed for quantity.

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MARKETS

WORLD

• Japan will invest $36B in US projects under Trump trade deal (WSJ)
  ^{_{More: NY Times, Bloomberg, Reuters}}

  • Japan plans to invest $36B in US oil, gas, and critical mineral projects under trade deal.

  • The largest project is a 9.2-gigawatt natural gas facility in Ohio led by SB Energy.

  • Another investment targets a deepwater crude export or liquefied natural gas facility in the Gulf of Mexico.

• Iran says progress achieved in nuclear talks with the US in Geneva (NY Times)
  ^{_{More: Al Jazeera, BBC, Reuters}}

  • Iran and the US agreed on the main guiding principles during the Geneva nuclear negotiations, the foreign minister says.

  • The Strait of Hormuz was temporarily closed for several hours amid heightened regional tensions.

  • Detailed proposals from Iran are expected within two weeks to address remaining gaps in talks.

• New Zealand will hold eight monetary policy meetings annually, says the central bank (Bloomberg)
  ^{_{More: MSN, Yahoo!}}

  • RBNZ kept the official cash rate at 2.25%, citing early signs of economic recovery.

  • New Zealand shares rose, with the S&P/NZX 50 index closing 1.65% higher at 13,247.02 points.

  • Price indexes show modest inflation changes, indicating downside risk to first-quarter consumer price forecasts.

FUTURISM

• Ford turns to F1 and bounties to build a $30K electric truck (TechCrunch)
  ^{_{More: Yahoo!, Tech Buzz, AOL}}

  • Ford Motor Company plans a $30K EV truck using modular parts and new manufacturing techniques.

  • After a $19.5B hit and the end of F-150 Lightning production, Ford needs its new EV strategy to succeed.

  • The new universal EV platform will support multiple models, using unicastings and licensed CATL battery technology.

• AI improves efficiency in Indian farming and exam grading (AP)
  ^{_{More: Yahoo!, Seattle Times}}

  • In Karnal, farmer Bir Virk uses AI-powered tractors to automate potato harvesting.

  • In New Delhi, educator Swetank Pandey uses algorithms to grade civil service exams.

  • Across India, early adopters say AI reduces labor, saves time, and boosts productivity.

• Apple is reportedly cooking up a trio of AI wearables (TechCrunch)
  ^{_{More: Yahoo!, Mashable}}

  • Apple is accelerating the development of an AI camera pendant and other wearable devices.

  • Apple is fast-tracking AI smart glasses, code-named N50, targeting production by December and release in 2027.

  • Competition intensifies as Meta and Snap advance their own smart glasses and AI wearables.

CONTENT

• Frey Chu explains using Claude Code to build AI-powered directories efficiently (Greg Isenberg)

  • Frey Chu demonstrates how to build AI-coded directories using Claude Code, with a focus on collecting valuable data effectively.

  • Three real-world examples, including funeral homes, senior living, and GasBuddy, illustrate traffic, monetization, and directory strategies.

  • A luxury restroom trailer directory was built in four days under $250 using a seven-step process.

• Lijia Zhang explores the Fire Horse, linking astrology, politics, and economics in China (The Prof G Pod)

  • China enters the Year of the Fire Horse, a zodiac pairing occurring once every 60 years.

  • Lijia Zhang and Alice Han examine mythology, symbolism, and potential implications for politics and economics.

  • Topics include birth rates, zodiac baby trends, and record Spring Festival travel in China.

• Why J-Cal Invested to 200K in a former Employee (This Week in Startups)

  • Jason invested $200K in Presh’s Wellness Company, which offers guidance to improve the health app Tempo.

  • Peter Cetale’s Sourcerer uses AI agents to help US firms automate sourcing and reduce costs.

  • Both founders pitched their startups on TWiST, highlighting product design, engagement, and real-world business strategies.

EXTRAS

• Allegations in Epstein files may amount to 'crimes against humanity,' UN experts say (Reuters)
  ^{_{More: Al Jazeera, The Guardian}}

  • UN-appointed experts say Jeffrey Epstein files suggest a global criminal enterprise targeting women and girls.

  • Crimes involved racism, misogyny, and corruption, potentially meeting legal thresholds for crimes against humanity.

  • Experts call for thorough, independent investigations and criticized disclosure failures that retraumatize more than 1,200 victims.

• Jesse Jackson, civil rights leader and presidential candidate, dies at 84 (Reuters)
  ^{_{More: NBC, Fortune}}

  • Jesse Jackson, an influential civil rights advocate, inspired generations through eloquent speeches and activism nationwide.

  • He ran for the Democratic presidential nomination in 1984 and 1988, gaining national recognition.

  • Jackson’s family honored him as a servant leader for oppressed and marginalized communities worldwide.

• Rescuers rush to save 6 skiers trapped, 10 others remain missing (Bloomberg)
  ^{_{More: AP, BBC, ABC}}

  • 6 backcountry skiers were trapped by an avalanche in Northern California amid dangerous winter storm conditions.

  • 10 additional skiers remain missing as rescue teams navigate rugged terrain using skis and snowcats.

  • Survivors were located and told to shelter in place until rescue crews can reach them safely.

AND MORE

• Nestlé CEO faces mounting pressure amid the ongoing infant formula supply crisis.

• Amazon ends 9-day losing streak after losing more than $450B.

• Gen Alpha is helping revive struggling shopping malls in major cities across China.

• Explore all the tools and more here to outperform the competition.*

• Elevate Prize winners receive over $300K funding and storytelling training.

• Running AI models is turning into a memory game.

• California regulators chose not to suspend Tesla vehicle sales within the state.

• Climactic launches a hybrid fund to help startups get through the ‘valley of death’.