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

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

🤖 JPMorgan Chase plans to deploy more powerful AI agents later this year.
✨ Anthropic's Claude Fable 5 brings its Mythos model to the public today.
🗳️ Platner is projected to win Maine's Democratic U.S. Senate nomination amid scrutiny.
💹 SpaceX staff launch low-fee wealth management platform after IPO.
🚀 U.S. & Iran traded airstrikes after Trump blamed Tehran for the crash.

TECHNOLOGY

• JPMorgan Chase plans to deploy more powerful AI agents later this year (Tech in Asia)
  ^{_{More: CNBC, Yahoo!}}

  • JPMorgan Chase plans to deploy AI agents this year that can operate autonomously for hours at a time.

  • AI agents are evolving from single-task tools into digital workers that manage multistep workflows across different software programs.

  • JPMorgan says AI already boosted private banking gross sales by 20% and could expand client coverage by 50%.

• Anthropic's Claude Fable 5 brings its Mythos model to the public today (TechCrunch)
  ^{_{More: BBC, Reuters, The Guardian}}

  • Anthropic launched Claude Fable 5 on Tuesday, the first publicly available version of its powerful Mythos model.

  • Fable 5 excels at engineering, knowledge work, and vision, but blocks high-risk requests and defaults to Opus 4.8.

  • Access begins through Anthropic's API and Enterprise plans, with free subscription access through June 22 before credits apply.

• Apple may remove some App Store apps that fail to attract users (MacRumors)
  ^{_{More: TechCrunch, MSN}}

  • Apple's refreshed App Review Guidelines warn it may remove apps that are not updated, improved, or attracting customers.

  • Previously, Apple only rejected copycat apps or those flooding saturated categories rather than removing established ones.

  • The updated list now targets wallpaper apps, simple timers, sound effects, dating, flashlight, and fortune-telling apps.

BUSINESS

• Platner is projected to win Maine's Democratic U.S. Senate nomination amid scrutiny (Reuters)
  ^{_{More: AP, CNN, The Guardian}}

  • Platner faces scrutiny over past online posts, a Nazi-linked tattoo, and allegations that he sent explicit texts.

  • The Maine race is a key battleground, with Republican incumbent Susan Collins, 73, seen as vulnerable.

  • Under state law, Democrats could replace Platner if he withdraws before July 13, ahead of the November election.

• SpaceX employees created a low-fee wealth management option with Choreo post-IPO (WSJ)
  ^{_{More: CNBC, MSN}}

  • More than 100 current and former SpaceX employees have joined forces to manage their post-IPO wealth.

  • They created a new low-fee advisory option with Chicago-based Choreo, according to sources who spoke to CNBC.

  • The deal is a bold experiment in wealth management and highlights the unprecedented power of SpaceX's IPO.

• Rivian is betting its R2 EV will make it a household name (CNBC)
  ^{_{More: MSN, Yahoo!, TechCrunch}}

  • Rivian launched its R2 electric SUV on Tuesday and moved its entry-level $45k model up to next summer.

  • The R2 aims to transform Rivian from a niche luxury maker into a mainstream brand like Tesla.

  • CEO RJ Scaringe believes the R2 will compete with Tesla and legacy brands such as Jeep and Subaru.

MARKETS

WORLD

• U.S. & Iran traded airstrikes after Trump blamed Tehran for the crash (AP)
  ^{_{More: Bloomberg, Arab News}}

  • The U.S. launched airstrikes, and Iran retaliated on Wednesday after an Army helicopter crash near the Strait of Hormuz.

  • Iran struck Bahrain and Kuwait, which fired air defenses, and claimed it hit a U.S. base in Jordan.

  • The conflict, ongoing since February 28, has rattled the global economy and raised energy and food prices worldwide.

• SoftBank's attempt to secure a $6B OpenAI margin loan has stalled (Bloomberg)
  ^{_{More: Reuters, Yahoo!}}

  • SoftBank's talks to raise at least $6B from a loan backed by its OpenAI stake have stalled.

  • Bloomberg News reported the stalled negotiations on Wednesday, citing sources familiar with the fundraising discussions.

  • SoftBank is weighing various fundraising options and could still pursue the margin loan at a later stage.

• Indian quick commerce firm Zepto will raise up to $837M via IPO (Reuters)
  ^{_{More: TechCrunch, NDTV}}

  • India's financial crime agency summoned Zepto founders in April, and the company says it met all requests.

  • Zepto's revenue more than doubled in the last fiscal year, but its losses widened due to soaring costs.

  • The IPO proceeds will fund expansion, technology investment, and acquisitions, marking one of India's most anticipated listings.

FUTURISM

• GM eyes new battery chemistry to grow data center & storage business (The Verge)
  ^{_{More: CNBC, Bloomberg, TechCrunch}}

  • GM is expanding into energy storage and data centers while developing next-generation sodium-ion batteries.

  • The company also announced additional support to help its EV owners combat higher energy costs.

  • The moves address rising energy cost concerns amid an AI boom expected to drive major data center buildout.

• Apple's first foldable iPhone could arrive as soon as this fall (TechCrunch)
  ^{_{More: PCMag, CNET}}

  • Hidden files in the iOS 27 developer beta suggest Apple's first foldable iPhone could launch this fall.

  • The code references folding states and display counts, implying a foldable device would run iOS 27.

  • Samsung and Huawei have made foldables for years, so Apple's first attempt faces high consumer expectations.

• MIT researchers use AI to turn hand gestures into robot training data (AP)
  ^{_{More: ABC, Boston Globe}}

  • MIT researchers developed an ultrasound wristband that captures hand muscle movement to train more dexterous robots.

  • The tool collects human hand motion data to help robots master dexterity that machines have long struggled with.

  • Beyond housework, Professor Xuanhe Zhao says the technology could aid tasks requiring fine finger control, such as surgery.

• Explore the essential startup reading database*

  • Learning from the best is how you become the best. We've curated a list of top-notch articles, blogs, and readings that are pivotal for startup founders.

  • And here's the kicker: we've organized it all in a user-friendly Notion database for easy access and tracking. Double win!

  • As aspiring leaders and innovators, this list serves as a bridge to absorbing the knowledge that has propelled others to success.

CONTENT

• Dan Dreyfus says copper is the next major bottleneck for AI (All-In Podcast)

  • Dan Dreyfus argues America's 'capital light era' is over, with rapid supply and demand shocks coming.

  • He warns that copper demand over the next 18 years could match the previous 10k years combined.

  • With $140T in debt and a failing grid, Dreyfus says hard assets win the commodity supercycle.

• Alex Sacerdote explains why the AI boom is just getting started (Invest Like The Best)

  • Alex Sacerdote, founder of Whale Rock Capital Management, has invested through major technology platform shifts for two decades.

  • He explains why AI may be the biggest S-curve yet and how Whale Rock built conviction in Anthropic.

  • Sacerdote argues code is AI's first major unlock and the hardware industry is entering a new renaissance.

• Henrik Cronqvist studied 38k people, finding that money habits are partly genetic (Moneywise)

  • Behavioral finance professor Henrik Cronqvist trained under Nobel laureate Richard Thaler and studied money behavior for 25 years.

  • His twin study of 38k people examined how much saving, spending, and investing behavior is hardwired into DNA.

  • He argues the traits that make great founders can work against them as investors after an exit.

EXTRAS

• Mysterious drones are leering into Connecticut suburban homes at night, frightening residents (Futurism)
  ^{_{More: MSN, Yahoo!}}

  • Residents of Norwich, Connecticut, report large drones descending on their properties in the dead of night.

  • Homeowner Christie Milligan watched two drones descend on her house on two consecutive nights, prompting her to call the police.

  • Police are investigating after witnessing a drone themselves, though weak U.S. drone regulation leaves explanations unclear.

• World Cup stadiums will enforce zero tolerance for drones due to threats (Washington Post)
  ^{_{More: AP, Economic Times}}

  • Authorities imposed a zero-tolerance drone policy over stadiums for 78 World Cup matches across 11 U.S. cities.

  • Law enforcement long views drones as a potential weapon, expanding counter-drone measures used at the Super Bowl.

  • Congress granted broader authority to disable or shoot down drones, which NYPD Commissioner Jessica Tisch calls a threat.

• Britain has begun a formal review of Paramount's $110B Warner Bros deal (Bloomberg)
  ^{_{More: Reuters, Yahoo!}}

  • Britain's competition regulator formally began reviewing Paramount Skydance's planned $110B acquisition of WB Discovery on Tuesday.

  • The phase 1 review has an August 7 deadline, after which the CMA decides whether to investigate further.

  • Paramount outbid Netflix in February, but California, New York, and other U.S. states may sue to block it.

AND MORE

• Google has fired a warning shot in the AI subscription price wars.

• Starlink kits now default to $10 monthly rentals instead of upfront purchases.

• Thousands of AI roles at frontier companies, matched to your profile and sent straight to you. Stop scrolling.*

• After trying Apple's new Siri AI, I found it actually works well.

• Top Lucid Motors executive departs amid new CEO’s leadership shakeup.

• Nintendo is playing too safe, showing great-looking games but few fresh ideas.

• Apple dialed down Liquid Glass, making the Mac look much better.