Welcome, Weekenders! In this newsletter:âą The Big Read: How a Chinese megabillionaire became the Jensen Huang of batteries. ⹠Style and Shopping: Tech invaded Cannes. Then we went shopping.âą Plus, Recommendationsâour weekly pop culture picks: âLong Buried,â âHow to Not Die in Prisonâ and âDust BunnyâOn Tuesday, a closely watched Congressional primary in New York City ended in defeat for Alex Bores, a former Palantir engineer turned state legislator who... Read more âș
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Warner Bros. Discovery announced on Friday that Kathleen Finch, the executive in charge of all of its cable networks in the U.S., will retire at the end of the year. The companyâs U.S. networks business will then be led by Channing Dungey, the current chairman and CEO of Warner Bros. Television ... Read more âș
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Last yearâs collapse of major crypto-friendly banks threw a wrench in the works of crypto markets, making it harder for hedge funds and other crypto investors to transfer money as fast as most of their trades require. Increasingly, though, crypto brokerages such as FalconX and crypto trading firms including GSR and B2C2 are stepping in to provide short-term financing to ensure their clientsâ trades can settle immediately, generating big payoffs... Read more âș
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Venture capital firm Andreessen Horowitz plans to open an outpost in Japan, its second international office, Nikkei Asia reports. The Menlo Park-based firm opened an office in London last year led by its general partner Sriram Krishnan. The Japan office will be used for fundraising efforts ... Read more âș
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Venture capitalist Ben Horowitz accused Mike Moritz, the former leader of Sequoia Capital, of using news outlet the San Francisco Standard to attack him and his wife Felicia Horowitz. âSir Michael Moritz is now having his fake disinformation ânewspaperâ fabricate hit pieces on his business ... Read more âș
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These are dark days for big TV companies. Paramount Global, owner of CBS, began laying off 15% of its staff this week. The share price of Warner Bros. Discovery has fallen so far down the toilet that a plumber would have trouble spotting it. Disney stock has lost most of the ground it gained during an activist fight for board seats this past winter.Whatâs dragging all these companies down is... Read more âș
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San Francisco City Attorney David Chiu has sued 16 websites around the world for creating and distributing non-consensual pornography generated by artificial intelligence. People have used these deep fakes of private citizens to extort, threaten and humiliate women and girls, officials said. The ... Read more âș
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Wall Street is finding its way into the deluge of artificial intelligence deals as more AI founders enlist banks to help with fundraising.One of the latest is Lambda Labs. The startup, which rents out servers of Nvidia chips, is working with JPMorgan Chase on its latest fundraising, which is targeting $800 million, according to a person pitched on the deal. Canadian model developer Cohere also worked with JPMorgan, as well... Read more âș
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Weâve got a trio of creator economy scoops for you today, so letâs get right to it. Creator+, a startup producing and streaming films for creators, has been acquired by Petra Media, a film production company that previously invested in the startup, according to a person familiar with the deal. The terms of its sale couldnât be learned. Creator+ last raised $12 million at a $45 million valuation in 2021,... Read more âș
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Media mogul Edgar Bronfman Jr. is preparing to make a bid for Paramount Global and its parent company National Amusements, according to multiple media reports. The executive, who formerly ran Warner Music, is seeking to put together a disparate group of investors for the bid including Fortress ... Read more âș
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Disney has hired Adam Smith, a longtime Google and YouTube executive, as its new Chief Product and Technology Officer, overseeing both Disneyâs entertainment division and ESPN. Smith will be responsible for tech development and strategy for Disneyâs streaming services, advertising technology and ... Read more âș
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SoftBank talked to Intel about producing artificial intelligence chips, but the talks broke down because the U.S. chip giant did not meet SoftBankâs demands, according to a report in The Financial Times. SoftBank wanted to use Intelâs chip manufacturing unit, Intel Foundry, to manufacture AI ... Read more âș
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Over the past several months, Character.AI seemed to talk to every big tech company about some sort of partnership or acquisition. In the end, its cofounders, Noam Shazeer and Daniel De Freitas, and some researchers landed at Google. But Character had another previously unmentioned suitor: OpenAI. Read more âș
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Alibaba Groupâs net profit fell 27% in the quarter through June, as revenue from its commerce operations for consumers in China declined. The e-commerce giant, whose marketplaces charge sellers for marketing and other services, said revenue from its âChina commerce ... Read more âș
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The ad industryâs annual Cannes Lions festival in June is an occasion for the entire media and ad industry to gather together at parties, on yachts, at beach clubs and in private cliffside villas. Outsiders may wonder whether any real work gets done, which seemed to be a question Netflixâs new ad president, Amy Reinhardâa newcomer to the ad industryâhad when she attended this past June. At one point during... Read more âș
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Meta Platforms has shut down CrowdTangle, its social media analysis tool that researchers and journalists used to track engagement with trending posts, according to a Wednesday blog post. The tool had become a source of tension within the company after journalists used it to point out that some ... Read more âș
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Who says investors donât care about Googleâs antitrust woes? The stock dropped as much as 3.9% on Wednesday in the wake of reports that the government might seek âa breakupâ of the company as the penalty for last weekâs antitrust verdict, most likely through the forced divestiture of Android or Chrome.Those reports shouldnât have been surprising: in a report last Friday, we cited antitrust lawyers predicting that the government would... Read more âș
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Elon Muskâs AI company xAI released its latest language model, Grok-2, to paying users of X, the social media platform. Users took advantage of the modelâs permissive content filter to share images of politicians and copyrighted characters in sexually explicit or violent situations, which many ... Read more âș
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Former Google CEO Eric Schmidt recanted his comments that Googleâs work-life balance and remote work policy put the company behind rivals like OpenAI, after video of the remarks went viral. Schmidt told The Wall Street Journal that he âmisspoke.â Schmidt had originally told a Stanford University ... Read more âș
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Cisco will lay off 7% of its workforce in the coming months, the company said on Wednesday, as it reported a decline in sales. The company said it will spend roughly $1 billion on severance as it lays off employees. Cisco didnât disclose which parts of its business would be most affected, but ... Read more âș
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I spent Wednesday at the White Houseâs first Creator Economy Conference, which gathered 100 people including social media influencers, talent managers and startup founders and featured a surprise appearance from President Joe Biden. Biden spoke for about 30 minutes, cracking several jokes about his age and quipping that he invited creators to the White House because heâs âlooking for a job.â Read more âș
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29.06.2026 10:35
Last update: 10:30 EDT.
News rating updated: 17:30.
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