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

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

🎨 Adobe launches Firefly AI Assistant to automate tasks across Creative Cloud.
⚛️ Amazon-backed nuclear startup X-energy seeks up to $814M in IPO.
🎟️ A federal jury finds Live Nation guilty of running an illegal monopoly.
🖼️ Trump posts an AI image of Jesus embracing him amid Christian backlash.
🕊️ Middle East peace hopes rise as Israel discusses a Lebanon ceasefire.

TECHNOLOGY

• Adobe launches Firefly AI Assistant to automate tasks across Creative Cloud apps (TechCrunch)
  ^{_{More: CNET, The Verge}}

  • Firefly AI Assistant lets users describe tasks and have them executed across Adobe's suite of apps.

  • The assistant works across Photoshop, Premiere, Lightroom, Illustrator, and other Creative Cloud applications.

  • Firefly AI Assistant launches in public beta soon, with pricing details yet to be confirmed.

• Microsoft's revamped Windows Recall tool faces renewed & serious security concerns (The Verge)
  ^{_{More: Tech Radar, Gigazine}}

  • Cybersecurity expert Alexander Hagenah found that Windows 11 Recall still has major security flaws.

  • Hagenah's TotalRecall Reloaded app can force authentication prompts, enabling the extraction of Recall data.

  • Microsoft has denied that any security vulnerabilities exist, despite the researcher's findings.

• Amazon-backed nuclear startup X-energy seeks up to $814M in IPO (TechCrunch)
  ^{_{More: MSN, Tech Buzz}}

  • X-energy set its IPO price target at $16–$19 per share, potentially raising $814M.

  • Amazon led a $500M investment round and pledged to buy 5 gigawatts of X-energy power by 2039.

  • The IPO follows a failed 2023 SPAC merger attempt, during which investors invested $1.8B in the company.

BUSINESS

• A federal jury finds Live Nation guilty of running an illegal monopoly (BBC)
  ^{_{More: NY Times, NBC, The Verge}}

  • A federal jury found that Live Nation had illegally monopolized the entertainment industry and overcharged fans.

  • The verdict follows a seven-week trial and could force Live Nation to split from Ticketmaster.

  • Increased competition resulting from the ruling could lower ticket prices and benefit smaller performers.

• Trump posts an AI image of Jesus embracing him amid ongoing Christian backlash (WSJ)
  ^{_{More: The Verge, Yahoo!, BBC}}

  • Trump shared an AI-generated image on Truth Social depicting Jesus with his arms around him.

  • The post follows backlash over an earlier image many believed depicted Trump as Christ.

  • Trump claimed the prior image showed him as a doctor, not as Jesus.

• Snap cuts 1k workers, or 16% of its workforce, to reduce costs (LA Times)
  ^{_{More: Reuters, TechCrunch, FOX}}

  • Snap is laying off 1k workers, representing 16% of its full-time workforce.

  • The cuts aim to reduce Snap's annualized cost base by more than $500M by late 2025.

  • Snap faces stiff competition for ad revenue from larger rivals, including Meta and Google.

MARKETS

WORLD

• Middle East peace hopes rise as Israel discusses a Lebanon ceasefire (Reuters)
  ^{_{More: Yahoo!, Business Standard}}

  • Israel's cabinet met to discuss a possible ceasefire in Lebanon amid ongoing conflict with Hezbollah.

  • Pakistan's army chief is mediating talks in Tehran after previous peace negotiations stalled.

  • The White House described Pakistan-mediated talks as 'productive,' boosting optimism for a broader deal.

• Sweden attributes a failed cyberattack on its energy infrastructure to Russia (Washington Post)
  ^{_{More: TechCrunch, Straits Times}}

  • Sweden said Russian-linked hackers attempted to disrupt a thermal power plant in early 2025.

  • The attack was blocked by built-in protection mechanisms, but officials warned of escalating hybrid threats.

  • The incident follows similar Russian-linked attacks on energy infrastructure in Poland and Norway.

• China's economy grows 5% in Q1 2026, beating forecasts despite regional war (Bloomberg)
  ^{_{More: MSN, Yahoo!}}

  • China's GDP expanded 5% year-on-year in Q1 2026, driven by strong manufacturing and exports.

  • Industrial output exceeded forecasts, rising 5.7% year over year in March.

  • Retail sales disappointed, rising just 1.7% in March, down from 2.8% in the prior period.

FUTURISM

• A humanoid robot was filmed chasing wild boars through a Warsaw car park (Futurism)
  ^{_{More: NY Post, AP}}

  • A customized Unitree G1 robot, nicknamed Edward Warchocki, chased wild boars through a Warsaw car park.

  • The robot jogged after the animals across the grass before raising its fist as they escaped.

  • The robot's account captioned the footage with 'I'm herding the wild boars into the forest.'

• AMD, Qualcomm & Arm invest $60M in autonomous driving startup Wayve (CNBC)
  ^{_{More: Yahoo!, TechCrunch}}

  • Wayve raised $60M from Qualcomm, AMD, and Arm, adding major semiconductor firms as shareholders.

  • The British startup now counts NVIDIA among its growing list of semiconductor industry backers.

  • Wayve faces rising competition from autonomous vehicle rivals, including Waymo and China's Baidu.

• Google launches a native Gemini AI app for Mac, available now (MacRumors)
  ^{_{More: CNET, TechCrunch, The Verge}}

  • The Gemini Mac app supports image generation, screen analysis, and file review via keyboard shortcuts.

  • Gemini is the last major AI service to launch a Mac app, after OpenAI and Anthropic.

  • The app is free on macOS 15 and later, with paid plans ranging from $7.99 to $249.99 per month.

• 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 essential 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

• Can NVIDIA's dominant market position survive rising competition & supply challenges? (Dwarkesh Patel)

  • Jensen Huang addressed whether NVIDIA's grip on scarce AI chip supply chains remains its strongest competitive advantage.

  • Huang explained why NVIDIA has no plans to become a hyperscaler despite its dominance in AI compute.

  • The interview also covered AI chip exports to China and the threat posed by rival TPU technology.

• Public distrust of AI is growing rapidly across the United States (The Prof G Pod)

  • A YouGov poll shows Americans distrust AI by a 47-to-27 margin.

  • AI CEOs' warning of job losses and existential risks has fuelled widespread public fear and backlash.

  • Local officials are pushing back on data centers, citing rising energy costs passed to consumers.

• Director David Gelb shares his cinematic storytelling & documentary filmmaking techniques (David Perell)

  • David Gelb, director of 'Jiro Dreams of Sushi' and 'Chef's Table,' discusses the art of documentary storytelling.

  • Gelb says characters should always enter a scene wanting one thing and leave with something else.

  • The conversation covers hooking audiences, cutting dialogue, and balancing passion over perfection in filmmaking.

EXTRAS

• LinkedIn data suggests rising interest rates, not AI, drove hiring decline (TechCrunch)
  ^{_{More: MSN, Yahoo!, Tech Buzz}}

  • LinkedIn data shows hiring has dropped roughly 20% since 2022, but AI is not the cause.

  • LinkedIn's chief legal officer attributed the decline to rising interest rates, not AI disruption.

  • LinkedIn data shows no outsized hiring decline in AI-exposed sectors like customer support and marketing.

• Meta is building an AI clone of CEO Mark Zuckerberg for employees (Engadget)
  ^{_{More: Futurism, Yahoo!}}

  • Meta is training an AI character on Zuckerberg's mannerisms, tone, and public statements.

  • The AI clone would interact with employees and offer advice on company strategy in Zuckerberg's absence.

  • The project follows separate reports of Zuckerberg developing a personal AI agent to assist his own work.

• U.S. regulators will mandate data centers disclose their energy consumption details (TechCrunch)
  ^{_{More: MSN, Yahoo!}}

  • The EIA plans to require mandatory energy use disclosures from data centers nationwide.

  • The move follows a Senate push by Josh Hawley and Elizabeth Warren to track data center power consumption.

  • Pilot surveys in six states will wrap up in September before a nationwide mandatory survey launches.

AND MORE

• ChatGPT gave an unexpectedly honest review of a song composed of flatulence.

• Ford's EV and technology strategy chief Doug Field is leaving the company.

• Roko’s Basilisk skips the buzz words and cuts straight to what moves markets, products, and careers.*

• The Vivo X300 Ultra's extender lenses proved genuinely impressive.

• Experts warn Meta's smart glasses could enable serious privacy-related crimes.

• Nintendo's new Tomodachi Life is designed for sharing, despite the company's reservations.

• Gen Z's skepticism toward AI is a warning sign for the entire tech industry.