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

In today’s edition we are tackling the following:

✅ Google's Veo 2 AI video model costs 50 cents per second.
💰 Trump's 25% steel and aluminum tariffs primarily target China.
🎓 How to find work you truly love with Bob Moesta.
🇩🇪 German Conservatives secure victory and begin coalition talks.
🖥️ Nvidia confirms ‘rare’ manufacturing issue in RTX 5090 and 5070 Ti.

TECH

• Google's Veo 2 AI video model costs 50 cents per second

  • Google has quietly revealed the pricing of Veo 2, the video-generating AI model that it unveiled in December.

  • Using Veo 2 will cost 50 cents per second of video, which adds up to $30 per minute or $1,800 per hour.

  • Google’s announcement highlighted Veo 2’s ability to create clips that are two minutes or more.

• Substack expands video features amid TikTok ban talks

  • As TikTok’s future in the U.S. remains in limbo, startup Substack is going after video creators in a move to expand its platform.

  • The company has introduced live video features and the ability to share short-form clips within its app.

  • Substack has launched a $20 million Creator Accelerator Fund to support creators transitioning from platforms like TikTok.

• Qatar partners with Scale AI to enhance government services

  • Qatar has entered a five-year partnership with Scale AI to enhance its government services through AI-powered tools and training.

  • The collaboration aims to implement over 50 AI applications to streamline operations across various government sectors.

  • Trevor Thompson, Scale AI's global head of growth, noted that this initiative could serve as a model for other governments worldwide.

BUSINESS

• Trump's 25% steel and aluminum tariffs primarily target China

  • President Donald Trump's 25% tariffs on steel and aluminum imports aim to counter China’s overproduction.

  • While the tariffs apply to multiple countries, China remains the primary target due to its trade practices.

  • Navarro emphasized that while the tariffs apply broadly, the main objective is to address China's trade practices.

• Berkshire Hathaway posts record profit for 2024

  • Warren Buffett's Berkshire Hathaway reported record operating profits for the fourth quarter and the third consecutive year in 2024.

  • Despite 53% of its 189 operating businesses experiencing lower earnings, the company's cash reserves reached a record $334.2 billion.

  • Buffett emphasized a preference for business investments over holding cash, though no stock repurchases have occurred recently.

• Westinghouse Electric Company plans cheaper nuclear plants

  • Westinghouse Electric Company is exploring strategies to reduce the costs of constructing large nuclear reactors, such as the AP1000.

  • The company aims to achieve this by enhancing standardization and modular construction techniques.

  • This approach is intended to minimize on-site labor and construction time, thereby lowering overall expenses.

CONTENT

• How to find work you truly love with Bob Moesta

  • Bob Moesta, co-creator of the Jobs to Be Done framework, has released a new book, Job Moves.

  • The book serves as a practical guide to career development, focusing on four career change “quests”.

  • Moesta introduces concepts like the "jobcation", career prototyping, and crafting a compelling career story.

• Building practical AI for enterprises with Aatish Nayak

  • Aatish Nayak, Head of Product at Harvey, discusses building AI products for enterprises, particularly in the legal industry.

  • He emphasizes that industries like law don’t require AGI or cutting-edge models and they need AI solutions that seamlessly integrate.

  • Nayak highlights key considerations such as UX design, trust, and customer engagement, ensuring AI tools provide real value.

• Adarsh Hiremath on scaling Mercor and AI recruitment

  • Adarsh Hiremath, Co-Founder and CTO of Mercor, an AI recruitment platform, discusses the company’s rapid growth to $70M ARR.

  • Mercor’s founders, all Thiel Fellows, are now the youngest unicorn founders, following a $100M funding round led by Felicis.

  • Hiremath also shares insights on scaling challenges, AI’s impact on software development, and synthetic vs. human data.

WORLD

• German conservatives win and begins coalition talks

  • Germany’s conservative opposition leader Friedrich Merz won a lackluster victory in a national election Sunday.

  • Alternative for Germany nearly doubled its support, the strongest showing for a far-right party since World War II, projections showed.

  • The election took place seven months earlier than originally planned after Scholz’s unpopular coalition collapsed in November.

• Zelensky rejects U.S. mineral deal and announces EU Summit

  • Ukrainian President Zelenskyy has rejected a U.S. proposal that would grant the United States ownership of 50% of Ukraine's resources.

  • Zelenskyy criticized the proposal, emphasizing that Ukraine’s sovereignty and economic independence cannot be compromised.

  • He stressed that any agreement must include long-term security guarantees and align with Ukraine’s national interests.

• Ryman Healthcare Raises NZ$1B to Cut Debt

  • Ryman Healthcare is raising NZ$1 billion to strengthen its balance sheet and reduce debt.

  • The equity raise includes a NZ$313 million underwritten institutional placement and a NZ$688 million underwritten pro-rata.

  • Shares are being offered at NZ$3.05 each, representing a 29% discount to the last closing price of NZ$4.31.

AND MORE…

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• Nvidia confirms ‘rare’ manufacting issue in RTX 5090 and 5070 Ti

  • Nvidia has acknowledged a manufacturing defect affecting less than 0.5% of its GeForce RTX 5090, 5090D, and 5070 Ti graphics cards.

  • These GPUs were produced with one fewer Render Output Unit (ROP) than intended, leading to an approximate 4% reduction performance.

  • Nvidia stated that affected consumers can contact the board manufacturer for a replacement.

• Grok 3 briefly censored criticism of Trump and Musk

  • xAI's chatbot, Grok 3, briefly censored unflattering mentions of Elon Musk and Donald Trump.

  • Users noticed that Grok 3 refused to generate negative responses about Musk and Trump while allowing criticism of other public figures.

  • xAI later updated the model, removing the restriction, but the incident fueled debates.

• Tesla to launch robotaxi without Uber partnership

  • Uber CEO Dara Khosrowshahi has stated that Elon Musk intends for Tesla to independently roll out its planned robotaxi service.

  • This decision positions Tesla as a direct competitor in the autonomous ride-hailing market and plans to launch robotaxi service by June 2025.

  • Uber, meanwhile, is focusing on partnerships with autonomous vehicle developers, such as Waymo.