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

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

🍎 Tim Cook steps down as Apple CEO, handing over to John Ternus.
🚀 The FAA orders Blue Origin to investigate New Glenn's upper stage failure.
☁️ Amazon will invest up to $25B in Anthropic as part of a cloud deal.
🏛️ Labor Secretary exits Trump's Cabinet amid abuse allegations.
⏳ Trump signals he will not extend the Iran ceasefire before talks.

TECHNOLOGY

• Tim Cook steps down as Apple CEO, handing over to John Ternus (TechCrunch)
  ^{_{More: WSJ, BBC, CNN}}

  • Tim Cook will step down as Apple CEO on September 1, ending a 14-year tenure.

  • John Ternus, currently SVP of Hardware Engineering, will succeed Cook as chief executive.

  • Cook leaves behind a $4T company whose annual revenue quadrupled under his leadership.

• Google Photos adds new touch-up tools for quick portrait fixes (The Verge)
  ^{_{More: TechCrunch, Tech Buzz}}

  • Google Photos' new touch-up tools let users remove blemishes, brighten eyes, and whiten teeth.

  • Users select a face in a photo, choose a tool, and adjust the effect's intensity.

  • The tools are rolling out on Android devices with at least 4GB RAM and Android 9.0.

• The FAA orders Blue Origin to investigate New Glenn's upper stage failure (TechCrunch)
  ^{_{More: Reuters, CNA, BBC}}

  • The FAA ordered Blue Origin to probe an upper-stage malfunction during a failed satellite launch.

  • The mishap occurred on New Glenn's third flight and second mission for a paying customer.

  • Blue Origin cannot resume New Glenn flights until the FAA approves its findings and corrective actions.

BUSINESS

• Amazon will invest up to $25B in Anthropic as part of a cloud deal (Reuters)
  ^{_{More: CNBC, Firstpost, NY Times}}

  • Amazon is investing up to $25B in Anthropic, with $5B upfront and $20B tied to future milestones.

  • Anthropic commits to spending over $100B on Amazon cloud technologies over the next 10 years.

  • The deal follows Amazon's separate announcement of a $50B investment in OpenAI earlier this year.

• Labor Secretary Lori Chavez-DeRemer exits Trump's Cabinet amid abuse allegations (AP)
  ^{_{More: NBC, Yahoo!, CNBC}}

  • Chavez-DeRemer resigned following allegations of an affair with a subordinate and drinking on the job.

  • She is the third Trump Cabinet member to depart, after Kristi Noem and Pam Bondi.

  • Her exit was announced by a White House aide, not by President Trump directly.

• SpaceX hosts Wall Street analysts ahead of its highly anticipated IPO (Reuters)
  ^{_{More: Economic Times, The Star, Investing.com}}

  • SpaceX is hosting three days of closed-door analyst meetings at its Texas and Tennessee facilities.

  • The company aims to raise $75B in what would be the world's largest-ever IPO.

  • Executives are targeting a late June trading debut at a $1.75T valuation.

MARKETS

WORLD

• Trump signals he will not extend the Iran ceasefire before talks (Bloomberg)
  ^{_{More: The Independent, Firstpost, Yahoo!}}

  • Trump said the two-week ceasefire with Iran expires Wednesday and he won't rush into a deal.

  • The Strait of Hormuz will remain blockaded, Trump said, until a formal agreement is signed.

  • Iran's Parliament Speaker said his country would not negotiate under the 'shadow of threats.'

• NVIDIA supplier Victory Giant soars 60% on Hong Kong stock debut (CNBC)
  ^{_{More: Tech in Asia, MSN, Tech Buzz}}

  • Victory Giant Technology shares surged up to 60% on debut in Hong Kong's biggest IPO this year.

  • The Chinese printed circuit board maker raised about $2.57B in its Hong Kong listing.

  • Strong investor demand held despite ongoing volatility linked to tensions in the Middle East.

• North Korean hackers are blamed for stealing $290M in cryptocurrency (TechCrunch)
  ^{_{More: CryptoRank, Tech Buzz}}

  • Hackers stole over $290M from Kelp DAO, making it the largest crypto theft of 2025.

  • LayerZero accused North Korea's TraderTraitor hacking group of carrying out the attack.

  • Hackers exploited a LayerZero bridge and Kelp's weak security to siphon funds via fraudulent transactions.

FUTURISM

• China showcases its high-tech manufacturing ambitions amid global war disruption (Bloomberg)
  ^{_{More: Business Times, Straits Times, Japan Times}}

  • China's Canton Fair featured a new generation of AI and robotics companies on the world stage.

  • Global supply chains face rising costs and longer delivery times amid ongoing war disruption.

  • Cleaning robot maker X-Human expects a 300% surge in overseas revenue in 2026.

• Mercedes-Benz unveils its first all-electric C-Class saloon model (The Verge)
  ^{_{More: InsideEVs, The Independent}}

  • Mercedes-Benz has revealed an all-electric C-Class built on a clean-sheet electric platform.

  • The model features a 94kWh battery delivering up to 470 miles of range on a charge.

  • An 800V architecture enables rapid charging, adding up to 202 miles in just 10 minutes.

• Deezer reports that 44% of daily uploaded songs are AI-generated (TechCrunch)
  ^{_{More: Tech Buzz, Tech Radar, PCMag}}

  • Deezer now receives nearly 75k AI-generated tracks daily, totaling over 2M per month.

  • AI music consumption remains low at 1–3% of streams, with 85% flagged as fraudulent.

  • AI-generated songs are excluded from recommendations, playlists, and hi-res storage on Deezer.

• 2026 Salary Report: U.S. vs Global hiring*

  • Athyna’s Salary Report reveals real salary benchmarks across AI, Tech, Data, Design, and other key global roles.

  • Compare costs across regions and roles to identify where you can reduce hiring expenses without sacrificing quality.

  • Clear, data-driven insights help you understand market rates and uncover savings opportunities you might not expect.

CONTENT

• Seven startup principles that still hold true in the age of AI (The Startup Podcast)

  • Amir Shevat, General Partner at Darkmode Ventures, shares seven enduring truths about building startups.

  • AI-generated sales outreach is backfiring, making authenticity and in-person events more valuable than ever.

  • The four moats, data, process, GTM, and tech, still matter even as software becomes less defensible.

• Box CEO Aaron Levie on which SaaS companies will survive AI (20VC)

  • Box CEO Aaron Levie argues experts are wrong about both the U.S.-China AI race and job losses.

  • Levie warns that SaaS tools risk becoming 'valueless databases' in an increasingly agentic world.

  • The episode covers AI agent cybersecurity threats, token budgeting, and open-source model adoption.

• Yale's Dr. Marc Brackett shares science-backed tools for emotional regulation (Andrew Huberman)

  • Dr. Brackett explains how to build emotional intelligence in relationships, work, and everyday life.

  • The episode covers how childhood experiences shape a person's relationship with their own emotions.

  • Special focus is given to how boys and men are socialized around emotional expression and processing.

EXTRAS

• Fermi's CEO and CFO depart suddenly, sending shares down 22% (TechCrunch)
  ^{_{More: MSN, Financial Post}}

  • Fermi co-founder Toby Neugebauer and CFO Miles Everson have abruptly left the AI nuclear firm.

  • Fermi is developing an AI data center campus in Amarillo, Texas, powered by nuclear reactors.

  • The company rebranded the shake-up as 'Fermi 2.0,' signaling continued progress to investors.

• A gunman opens fire on tourists at Mexico's Teotihuacan pyramids, killing one (Washington Post)
  ^{_{More: AP, NY Times, The Guardian}}

  • A gunman atop a Teotihuacan pyramid opened fire on tourists, killing one Canadian national.

  • At least 13 people were injured, with seven confirmed as having been struck by gunshots.

  • The shooter, 27-year-old Julio Cesar Jasso, later died from a self-inflicted gunshot wound.

• WhatsApp is testing a paid subscription tier with mostly cosmetic features (TechCrunch)
  ^{_{More: Yahoo!, TOI}}

  • WhatsApp Plus offers customized icons, themes, ringtones, and expanded pinned chats for subscribers.

  • Meta confirmed the test, describing it as optional and designed for users seeking more personalization.

  • The plan may be priced at €2.49 per month in Europe, with a one-month free trial offered.

AND MORE

• A tornado strikes Rivian's factory just ahead of the R2 launch.

• Why Melanie Perkins is confident Canva can take on the big AI players.

• Explore all the tools and more here to outperform the competition.*

• Vercel confirms it was hacked, with customer data stolen in the breach.

• The Power 1000 Mini is the smallest 1kWh power station you can buy.

• Mastodon confirms its flagship server was taken down by a DDoS attack.

• Silicon Valley has forgotten what normal people want.

• Google expands its Gemini Chrome integration to seven new countries.