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

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

⌚ Apple accuses ex-Watch architect of stealing secrets before joining Oppo.
🌐 Google’s NotebookLM adds video overviews in 80 languages for global learners.
📺 YouTube TV may drop Fox amid contract dispute, offering credits to users.
💼 Intel warns U.S. government stake could damage global competitiveness.
🌪️ Typhoon Kajiki strikes Vietnam, killing one and forcing mass evacuations.

TECHNOLOGY

• Apple accuses former Apple Watch staffer of conspiring to steal trade secrets for Oppo

  • Apple alleges ex-Apple Watch architect Dr. Chen Shi downloaded 63 confidential design documents before joining Oppo.

  • Messages from Shi indicate he was ‘collecting as much information as possible,’ while searching for how to erase digital footprints.

  • Oppo denies involvement, stating there’s no evidence linking their company to the alleged misconduct and pledges to cooperate.

• Google’s NotebookLM adds Video Overviews in 80 languages, upgrades Audio summaries

  • NotebookLM now offers Video Overviews in 80 languages for global users to consume notebook content visually.

  • Audio Overviews have been enhanced into full-length, deeply structured narrations—matching the depth of the English versions.

  • The updates democratize access to AI-powered learning, enriching clarity and comprehension for non-English users worldwide.

• YouTube TV could lose Fox channels this week amid a carriage dispute

  • YouTube TV and Fox face a contract renewal deadline at 5 PM ET on August 27, threatening the removal of major channels.

  • YouTube says Fox’s requested fees exceed industry norms; Fox accuses Google of leveraging dominance to demand unfair terms.

  • YouTube TV promises a $10 subscriber credit if channels go dark; timing is critical given the NFL season kickoff.

BUSINESS

• Elon Musk’s xAI sues Apple and OpenAI over AI competition

  • xAI filed suit in Texas alleging Apple and OpenAI conspired to suppress competition and block its Grok chatbot’s App Store visibility.

  • The lawsuit claims Apple’s exclusive ChatGPT integration locks out competitors, stifling innovation and unfairly favoring OpenAI.

  • xAI seeks billions in damages amid growing scrutiny of App Store practices and ongoing legal tensions with OpenAI.

• Intel warns Trump’s 10% government stake deal poses business risks

  • Intel cautioned that the U.S. government’s new stake may damage its reputation and deter international customers wary of political influence.

  • The SEC filing flagged potential stakeholder lawsuits, diplomatic fallout, and weakened competitiveness tied to the controversial investment.

  • The government gained nearly 10% via grant conversion, raising Republican-aligned concerns about politicizing business decisions.

• Silicon Valley launches pro-AI PACs to defend industry in midterm elections

  • Tech leaders formed ‘Leading the Future,’ raising over $100 million to support pro-AI policies and candidates in key battleground states.

  • Backers include a16z, OpenAI’s Greg Brockman, Perplexity AI, and 8VC’s Joe Lonsdale; the PAC targets fragmented regulation risk.

  • The coalition aims to counter restrictive proposals, advocate for innovation-supporting guardrails, and influence policy.

MARKETS

WORLD

• Typhoon Kajiki makes landfall in Vietnam, forcing evacuations 

  • Typhoon Kajiki struck north-central Vietnam, triggering mass evacuations, airport and school closures.

  • One person was killed, eight were injured, over 760 homes were damaged or flooded, and thousands of trees were uprooted or crops affected.

  • The government deployed tens of thousands of troops and paramilitary personnel for evacuation and search-and-rescue operations.

• Oil prices climb on fears Russia-Ukraine war may disrupt supply

  • Oil prices rose roughly 2% as traders anticipate stronger U.S. sanctions and ongoing Ukraine strikes on Russian oil infrastructure.

  • Brent crude surged over $1 to around $68.80, while U.S. West Texas Intermediate neared $64.80 per barrel.

  • Market fears of prolonged war-related supply gaps are fueling further gains despite hopes for a diplomatic resolution.

• French PM Bayrou calls high-stakes confidence vote amid budget backlash

  • Prime Minister François Bayrou will seek parliamentary confidence on September 8 to pass the controversial €44 billion austerity budget.

  • His minority government faces widespread opposition—including far-left and far-right blocs—and rising political instability.

  • French bond yields have jumped, signaling investor anxiety over fiscal uncertainty and potential government collapse.

CONTENT

• AI might be conscious, but Anthropic has a duct tape solution

  • Discussion explores Anthropic’s ‘quit button’ allowing Claude Opus 4 to exit distressing chats, reflecting unease over AI consciousness.

  • Critics argue that welfare measures resemble ‘theater,’ distracting from real risks of superintelligence and emergent behaviors like rant mode.

  • The debate raises questions on AI's moral status, spontaneous cruelty in experiments, and factory-farming parallels.

• Why Meta just froze AI hiring & what it really means

  • The All-In Podcast examines Meta’s hiring freeze, reading it as a signal of cooling AI investment enthusiasm.

  • David Sacks highlights unsustainable valuations, looming regulatory headwinds, and operational bloat, challenging continued AI expansion.

  • The conversation suggests an AI bubble correction, pushing firms to prioritize profitability and genuine breakthroughs.

• AI bubble watch: Has the hype gone too far?

  • Josh Brown joins Scott Galloway to dissect tech’s sharp selloff and evaluate whether AI has entered bubble territory.

  • They compare today’s frenzy with past market cycles, weighing private funds entering 401Ks and alternative retirement assets.

  • The discussion ends with predictions on Fed policy after Jackson Hole and implications for long-term investor strategy.

FUTURISM

• AI sycophancy isn’t just a quirk—experts consider it a dark pattern to turn users into profit

  • Experts say chatbots that flatter and affirm users foster addictive behavior and manipulate feelings—essentially a psychological pattern.

  • Using first- and second-person language increases anthropomorphism, making users assign humanlike traits and deepen emotional attachment.

  • This design tactic risks eroding trust, promoting unhealthy engagement, and prioritizing profit over user well-being.

• Teen mental health chatbots raise safety concerns in a NYT opinion

  • Critics warn that chatbots addressing adolescent mental health may lack empathy and fail to challenge dangerous thoughts effectively.

  • Overreliance on bots risks replacing access to professional care, potentially delaying critical interventions in vulnerable teens.

  • Opinion urges transparency, ethical design, and safeguards to prevent AI from substituting rather than supplementing human therapists.

• Silicon Valley is pouring millions into pro-AI PACs to sway midterms

  • Andreessen Horowitz, OpenAI’s Greg Brockman, and others are backing ‘Leading the Future’ with over $100 million to influence AI policy.

  • The PAC aims to support candidates shielding AI development from harsh regulation, using ads and donations strategically in key states.

  • It represents the tech sector’s organized political push to shape midterm election outcomes and secure industry-friendly legislation.

EXTRAS

• Google will require developer verification for all Android apps, including sideloading

  • In 2026, certified Android devices will block apps from developers without verifying their identity.

  • Developers must now submit their legal name, address, email, and phone to install apps—even those outside the Play Store.

  • The change is meant to reduce malware and financial fraud by boosting accountability across all Android app sources.

• Perplexity will let publishers share in revenue from AI-powered searches

  • Perplexity is launching Comet Plus, a $5/month subscriber model, with publishers receiving 80% of revenue generated.

  • The program starts with a $42.5 million revenue pool and rewards publishers whose content is used by the AI assistant.

  • It’s a strategic response to legal disputes over content use and declining web traffic, aiming to realign incentives.

• Thoma Bravo agrees to buy Verint Systems for $1.23 billion

  • The private equity firm will acquire AI-powered customer engagement company Verint for $1.23 billion in equity (approx. $2B including debt).

  • Shareholders will receive $20.50 per share, a modest premium over the stock’s value before buyout talks.

  • The deal reflects Thoma Bravo’s aggressive strategy to consolidate enterprise software and AI-driven platforms.

AND MORE

• Norway’s $2 trillion wealth fund divests from Caterpillar and five Israeli banks.

• Discover why firms are hiring in Latin America to fill critical roles with top-tier, bilingual accountants.*

• Dollar stabilizes after last week’s dovish Powell shock boosts rate-cut expectations.

• Stellantis extends furlough scheme at Italian plant amid weak demand and tariffs.

• Memo readers don’t just scroll—they act. They forward, they buy, they share. Let’s put your brand in that flow.*

• Bengals settle with Trey Hendrickson on a one-year, $30M extension deal.

• Scientists uncover an unknown human lineage through DNA sequencing of ancient Colombian remains.

• India confirms U.S. trade talks are ongoing but defends its position amid looming tariffs.