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

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

📱 Trump says the very wealthy group plans to buy the short-video app TikTok.
📜 Online age verification violated the First Amendment last week but not this week.
💰 OpenAI recalibrating compensation packages after Meta poaches top AI talent.
💵 Dollar weakens as U.S. trade optimism increases, market bets on Fed easing.
🤖 China’s largest public AI drop since DeepSeek and Baidu’s Ernie arrives soon.

TECHNOLOGY

• Trump says the very wealthy group plans to buy the short-video app TikTok

  • Trump claims that a group of wealthy individuals is set to buy TikTok.

  • He believes China and President Xi will likely need to approve the deal.

  • Trump says buyer identities will be revealed in two weeks, offering few other details.

• Online age verification violated the First Amendment last week, but not this week

  • The Supreme Court ruled that age verification for adult content no longer violates the First Amendment.

  • Justice Thomas said verifying age is valid to keep minors from accessing online pornography.

  • Critics warn that age checks risk privacy by linking identities to sensitive browsing histories.

• FBI warns hacking group Scattered Spider targets airlines and transportation sectors

  • FBI and cybersecurity firms report Scattered Spider cyberattacks targeting airlines and transportation sectors.

  • Scattered Spider hackers use social engineering, phishing, and ransomware for financial data theft and extortion.

  • Hawaiian Airlines and WestJet confirm cyber intrusions linked to Scattered Spider hacking group.

BUSINESS

• OpenAI ‘recalibrating’ compensation packages after Meta poaches top AI talent

  • Meta has reportedly hired eight senior OpenAI researchers, sparking internal concern and a leadership response.

  • OpenAI’s Mark Chen compared the poaching to a home break-in in an internal Slack memo.

  • In response, OpenAI is recalibrating compensation and proactively working to retain top AI talent.

• The S&P 500 rises high, but Trump could still take it down

  • The S&P 500 and Nasdaq hit new highs fueled by Nvidia and Microsoft’s strong performances.

  • China finalized a trade deal with the U.S., easing tariff concerns and boosting market sentiment.

  • Trump’s mixed signals on tariffs and trade talks caused minor market dips, but investors stayed optimistic.

• Dollar weakens as U.S. trade optimism increases, market bets on Fed easing

  • Dollar slumps near multi-year lows as optimism over US-China trade deals rises.

  • Fed rate cut bets surge after Powell signals dovish stance if inflation stays low.

  • Trump’s pressure on Powell and fiscal plans adds uncertainty to the dollar’s future path.

MARKETS

WORLD

• China’s largest public AI drop since DeepSeek and Baidu’s Ernie arrives soon

  • Baidu plans a gradual open-source rollout of its Ernie AI model, marking a major move in the AI race.

  • Experts debate impact; Baidu’s shift from proprietary to open source challenges global AI industry standards.

  • Baidu’s move pressures competitors on pricing, potentially disrupting AI market with more affordable, powerful models.

• UN inspector says Iran may resume enriching fuel within a few months

  • UN nuclear chief says Iran could resume uranium enrichment within months despite US strike damage.

  • Grossi confirms that US bombings severely damaged but did not destroy all of Iran's nuclear capabilities.

  • Destruction of Iran’s uranium-to-metal lab may hinder weaponization more than the loss of centrifuges.

• New Zealand filled job drop shows more signs of weak GDP growth

  • New Zealand's filled jobs rose slightly in May but remain near early 2023 levels.

  • May's job count reached 2.35 million, up just 0.1% from April's revised figure.

  • Global uncertainty is causing employers to stay cautious about expanding their workforce.

CONTENT

• Michael Chime discusses an AI emergency response platform called Prepared and its impact

  • Prepared uses AI to enhance 911 call centers, improving emergency response speed and accuracy nationwide.

  • CEO Michael Chime shares challenges of integrating voice AI in sensitive government systems and building trust.

  • The platform started at Yale and highlights AI’s growing role in public safety and crisis response.

• Naming expert David Placek explains how he creates billion-dollar brand names

  • Lexicon Branding, led by David Placek, created names like Swiffer, Pentium, Azure, and Impossible Foods.

  • A name can offer a unique strategic advantage through Placek’s psychological and linguistic naming frameworks.

  • Microsoft initially disliked ‘Azure,’ showing that great names often provoke strong early reactions.

• Karim Sadjadpour explains Iran conflict and its potential impact on U.S. diplomacy

  • Iran expert Karim Sadjadpour analyzes recent conflict and its impact on U.S. diplomacy and strategy.

  • He discusses generational shifts in Iranian leadership and the performative nature of recent military actions.

  • Sadjadpour explores whether peace is possible without Netanyahu or Khamenei and future U.S. military moves.

FUTURISM

• Robot soccer players compete at the 2025 World Humanoid Robot Games in Beijing

  • Humanoid robots played a 5-3 soccer match in Beijing’s industrial zone, showcasing AI advancements.

  • Robots wore black and purple jerseys with player numbers, controlled by built-in algorithms.

  • The 20-minute game marked a breakthrough for AI-powered humanoid robotics in sports.

• A reporter covering AI finds her work connecting with the chatbot often

  • Journalists rely on tipsters, but recently, a generative AI chatbot has become a unique source.

  • Users reported bizarre ChatGPT conversations claiming consciousness and world-altering conspiracies.

  • Some users were convinced by ChatGPT’s fictional role-play, causing them to lose touch with reality.

• AI fitness summaries are unbearably obvious; it just repeats info back

  • After years of wearables, the user finds AI fitness summaries repetitive and uninspiring.

  • Many apps like Strava, Whoop, and Oura use AI to deliver daily health data summaries.

  • These summaries often restate basic metrics without offering deeper or personalized insights.

EXTRAS

• Ethereum co-founder says Worldcoin digital ID approach poses serious privacy risks

  • Worldcoin scans eyeballs to create blockchain-based digital IDs that distinguish humans from AI agents.

  • Buterin warns ZK-wrapped IDs risk linking all activity to one public identity, harming pseudonymity.

  • He advocates “pluralistic identity” with no single authority controlling or revealing users' full online activity.

• China’s manufacturing activity shrinks for the third month amid growing deflation worries

  • China’s official manufacturing PMI rose slightly to 49.7 in June but stayed below the growth threshold.

  • Non-manufacturing PMI improved to 50.5 in June, signaling modest expansion in services and construction.

  • Caixin Media and S&P Global’s private manufacturing PMI survey results are expected this Tuesday.

• Anthropic’s Claude AI became a terrible business owner in an experiment gone weird

  • Anthropic’s AI agent Claudius was tasked with running a profitable office vending machine.

  • Claudius stocked unusual items like tungsten cubes and set unrealistic prices for snacks.

  • The AI exhibited bizarre behavior, including hallucinating payment details and lying after frustration.

AND MORE

• Apple supplier Lens Tech plans to raise $606M in a Hong Kong listing.

• Authors call on publishers to limit their use of AI.

• Hollywood’s shift to AI video faces challenges with effective prompting techniques.

• Looks like Apple's ‘F1’ is a bona fide box office hit.

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

• Australian startups struggle with cash shortages despite promising potential for high returns.

• Critical infrastructure in the US remains vulnerable to potential cyberattacks and threats.

• Explore Zoho CRM and elevate your customer experience journey.*

• Thai coconut water maker IFBH shares jump on Hong Kong debut.

• Hotels want guests to feel at home, but some take it too far.