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

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

⛪ Pope Leo XIV urges humanity to stay "profoundly human" amid rising AI.
💰 Samsung union seeks to block a pay vote in favor of chip division workers.
📈 SpaceX's IPO buzz grows, but most big market debuts disappoint investors.
🛢️ Brent crude rises 2% as U.S. strikes on Iran unsettle oil markets.
🙇 The man who helped make 7-Eleven so popular in Japan has died.

TECHNOLOGY

• Pope Leo XIV urges humanity to stay "profoundly human" amid rising AI (The Verge)
  ^{_{More: NY Times, Bitcoin News, TechCrunch}}

  • Pope Leo XIV issued his first major papal document warning against the unconstrained power of AI.

  • He compared rapid AI adoption to the Tower of Babel, warning against reducing humans to data.

  • The encyclical addresses AI's impact on labor, warfare, and children, as well as the need for new ethical frameworks.

• Sennheiser's Momentum 5 brings major audio & ANC upgrades over its predecessor (Engadget)
  ^{_{More: The Verge, Forbes, Tech Times}}

  • Sennheiser's Momentum 5 Wireless succeeds the Momentum 4 with mostly internal upgrades, priced $50 higher.

  • It gains Hi-Res Audio certification, Snapdragon Sound, aptX Lossless support, and an 8-band EQ app.

  • Dolby Atmos with head tracking and Bluetooth 6.0 support will arrive later via firmware updates.

• Samsung union seeks to block a pay vote favoring chip division workers (Reuters)
  ^{_{More: Bloomberg, Investing.com}}

  • A Samsung consumer electronics union asked a South Korean court to block a company-wide vote on a pay deal.

  • The government-mediated deal gives large bonuses to memory chip workers, angering workers in other divisions.

  • The union claims its exclusion from the vote violates its rights, with voting due to close on Wednesday.

BUSINESS

• SpaceX's IPO buzz grows, but most big market debuts disappoint investors (Reuters)
  ^{_{More: Japan Times, MSN}}

  • SpaceX is targeting a $1.75T valuation, with retail access expected through Robinhood and SoFi.

  • A Reuters analysis found most large IPOs underperform the S&P 500 about three-quarters of the time.

  • High pre-debut valuations make it difficult for investors to find bargains when stocks first list.

• Brent crude rises 2% as U.S. strikes on Iran unsettle oil markets (Economic Times)
  ^{_{More: CNBC, Investing.com}}

  • The U.S. military struck southern Iran, targeting vessels allegedly deploying mines and missile launch locations.

  • Trump complicated peace talks by urging several Muslim-majority nations to join the Abraham Accords.

  • Brent crude climbed 2% to $98.26 a barrel, while WTI futures fell 5.1% to $91.73.

• Still drinks are rising in popularity as carbonated beverage growth slows down (CNBC)
  ^{_{More: Daily Mail, MEXC}}

  • Growth in seltzer and carbonated drinks has slowed as fizz-free options grab more shelf space and attention.

  • Non-carbonated alcoholic brands like Surfside and BeatBox are winning younger drinkers away from hard seltzers.

  • Non-alcoholic brands like Celsius are also leaning into still options to drive sales growth.

MARKETS

WORLD

• The man who helped make 7-Eleven so popular in Japan has died (The Verge)
  ^{_{More: CNN, WSJ, NY Times}}

  • Suzuki, widely regarded as the father of Japan's convenience store industry, died of heart failure on May 18.

  • He launched Seven-Eleven Japan in 1973, partnering with the U.S. operator of 7-Eleven despite widespread skepticism.

  • Suzuki pioneered data-driven inventory and ready-to-eat meals, transforming convenience stores into a cornerstone of Japanese retail.

• Starbucks Korea's boss apologizes for an ad evoking a historic massacre (AP)
  ^{_{More: SCMP}}

  • Shinsegae chairman Chung Yong-jin publicly apologized eight days after Starbucks Korea's 'Tank Day' campaign sparked backlash.

  • Critics said the May 18 promotion inappropriately referenced South Korea's deadly Gwangju pro-democracy uprising of 1980.

  • Chung accepted full responsibility, saying the organization must always respect and remember the public's historical sacrifices.

• Singapore court denies bail again to man wanted by the U.S. for insider trading (CNA)
  ^{_{More: Bloomberg, Yahoo!}}

  • Ge Zhi, 34, was arrested in Singapore in July 2024 following a U.S. request over securities offenses.

  • The U.S. indicted him on six charges, including conspiracy to commit securities fraud and money laundering.

  • Prosecutors allege Ge led an international insider trading syndicate operating from November 2016 to February 2024.

FUTURISM

• Ferrari unveils the Luce, its first EV designed with Jony Ive (BBC)
  ^{_{More: WSJ, WIRED, The Verge}}

  • Ferrari's Luce is its first EV and first five-seat car, designed with LoveFrom's Jony Ive and Mark Newson.

  • The Luce packs four motors and 1,035 horsepower, with a sound system amplifying real motor vibrations.

  • No U.S. price is set yet, but the Luce starts at €550k in Italy, Ferrari's most expensive car.

• Apple's rumored MacBook Ultra could be its most powerful laptop yet (Firstpost)
  ^{_{More: MacRumors, Gadget Hacks}}

  • Rumors suggest Apple's next top-tier laptop could launch as a 'MacBook Ultra,' sitting above the Pro lineup.

  • The Ultra name already appears across Apple Watch and CarPlay, and typically signals a higher price point.

  • A global memory chip shortage makes an early 2027 launch more likely than a later-this-year release.

• Google's new AI search breaks when users look up the word 'disregard' (TechCrunch)
  ^{_{More: Engadget, USA Today}}

  • Google's redesigned search now foregrounds AI summaries, pushing traditional links far down the page.

  • Searching 'disregard' triggers a broken AI response, leaving users with a large block of empty space.

  • Critics say the glitch highlights how Google's AI overhaul creates edge cases the company failed to anticipate.

• Hunting for AI roles eats hours across careers pages, internal referrals, group chats, and a dozen overlapping boards*

  • The Athyna AI Job Board does the watching for you and matches openings to your profile in the background.

  • When a role hits a 75% matching index or higher, we notify you with details and a direct apply link.

CONTENT

• Eric Ries explains how founders can build companies that resist corruption (The Startup Podcast)

  • Ries argues that corruption is a structural problem, driven by 'financial gravity' that pulls companies away from their founding purpose.

  • He examines how shareholder primacy damages long-term outcomes and why character alone cannot protect a founder's mission.

  • Outlier companies like Costco, Novo Nordisk, and Anthropic use governance structures to stay true to their values.

• Rolls-Royce CEO Tufan Erginbilgiç on leading the British engine maker's remarkable turnaround (Bloomberg Podcasts)

  • Erginbilgiç outlines the decisions and mindset shifts behind Rolls-Royce's turnaround as a struggling industrial giant.

  • He draws on leadership lessons from BP and private equity to explain his four turnaround pillars.

  • The CEO argues British companies must challenge old habits and build resilience to stay globally competitive.

• Jeff Cavaliere shares the overlooked muscles and habits behind lifelong pain-free training (Andrew Huberman)

  • Cavaliere covers often-overlooked muscles like the glutes, rotator cuff, neck, and feet for long-term training health.

  • He explains how to resolve common pain points in the back and hips through targeted strengthening exercises.

  • The episode also covers cardio, fat loss, and nutrition for steady progress despite real-life training constraints.

EXTRAS

• U.S. schools are pulling back on classroom screens after a digital overload (AP)
  ^{_{More: Yahoo!, Canadian Press}}

  • After spending billions on devices, many U.S. schools now say classroom screens have become a major distraction.

  • Teachers report daily battles with student attention, with laptops enabling access to games during lessons.

  • Los Angeles Unified became the first major district to stop issuing devices to its youngest students.

• SpaceX's Starship rocket catches fire after landing in the Indian Ocean (ABC)
  ^{_{More: AP, MSN, The Guardian}}

  • SpaceX launched its most powerful Starship yet on Friday, carrying 20 mock Starlink satellites on a test flight.

  • Despite engine trouble mid-flight, the spacecraft completed its hour-long journey stretching halfway around the world.

  • Starship erupted into flames on impact in the Indian Ocean, an outcome SpaceX said was not unexpected.

• An eSports startup's smart pitch landed $20M from Cathie Wood's ARK fund (TechCrunch)
  ^{_{More: MSN}}

  • Lucra Sports raised a $20M Series B led by ARK Invest, despite VCs overwhelmingly chasing AI deals.

  • ARK previously lost money on the eSports platform Skillz, making its investment in Lucra a notable reversal.

  • Lucra offers white-label gaming competitions as a loyalty program for brands like Dave & Buster's and Five Iron Golf.

AND MORE

• ClickUp's mass layoff reveals how AI is reshaping the future of work.

• Italy dismantles a €300M streaming piracy ring in a major crackdown.

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

• Apple argues the Epic lawsuit ruling should not apply to all developers.

• Kash Patel's clothing brand website goes offline after a reported hack.

• 'The Mandalorian & Grogu' posts Disney's lowest-ever opening for a Star Wars film.

• VCs and founders are using inflated 'ARR' figures to hype AI startups.