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July 3, 2025, 8:05 AM
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Top News

Jason Schreier / Bloomberg:
Sources: Microsoft cut hundreds of Xbox jobs across studios, including King, ZeniMax, and Halo Studios, and cancels games like the new Perfect Dark and Everwild  —  Hundreds of people were laid off as the company canceled upcoming games such as Perfect Dark and Everwild
Jordan Novet / CNBC:
Source: Microsoft plans to lay off ~9,000 employees, or less than 4% of its workforce, across teams and role types, after cutting ~6,000 in May and 300+ in June
Spiegel Online:
A whistleblower details Clothoff, an AI-powered nudify app that owns 10 similar services; Clothoff had 27M visitors in H1 2024 and produced 200K images daily  —  AI-generated naked images of real women is the business model behind Clothoff, a dubious “nudify” app that has millions of visitors.
More: Ars Technica.  Bluesky: @santi4dc.  Threads: @mattnavarra.  Forums: r/technology, r/technology, Beehaw, and Ars OpenForum
Bloomberg:
Sources: OpenAI will rent additional computing power from Oracle, totaling about 4.5 gigawatts of US data center power, as part of its Stargate initiative  —  The AI company will rent additional capacity from Oracle totaling about 4.5 gigawatts of data center power in the US …
MacKenzie Sigalos / CNBC:
OpenAI says the tokenized OpenAI shares that Robinhood has started offering are not equity: “We did not partner with Robinhood ... and do not endorse it”  —  OpenAI is distancing itself from Robinhood's latest crypto push after the trading platform began offering tokenized shares of OpenAI and SpaceX to users in Europe.
Vicky Ge Huang / Wall Street Journal:
Ripple applies for a US national banking license, which would place Ripple's dollar-backed stablecoin, RLUSD, under the US OCC's regulatory remit  —  A national banking charter would make the OCC a regulator of Ripple's stablecoin  —  Ripple has applied for a national banking license …
Wall Street Journal:
Ford CEO Jim Farley, Andy Jassy, and other CEOs are now predicting AI will significantly cut white collar jobs, a shift from a reluctance to acknowledge losses  —  Ford chief predicts AI will replace ‘literally half of all white-collar workers’  —  CEOs are no longer dodging the question of whether AI takes jobs.
Financial Times:
Sources: Bumble CEO Whitney Wolfe Herd says Bumble's “centre of gravity” will move to the US where the “talent pool is right now”; 70% of its staff are UK-based  —  CEO Whitney Wolfe Herd warns ‘dating apps are feeling like a thing of the past’
More: Silicon UK.  Bluesky: @robblackie, @mims, and @davelee.me
X: @mattlynnwriter and @rcobooth.  LinkedIn: Kieran Smith
Gina Kolata / New York Times:
An analysis of 15M+ biomedical abstracts from 2010 to 2024 finds researchers using AI to write abstracts use certain words far more often than those who don't  —  Scientists show that the frequency of a set of words seems to have increased in published study abstracts since ChatGPT was released into the world.
Kirk Ogunrinde / Bloomberg:
Bitcoin's implied volatility declined to the lowest level in two years, showing decreased price swings and trading between $93K to $111K in the past two months  —  With Bitcoin stuck in a narrow trading range for much of the year, one of key attractions of the largest digital currency since its earliest days is waning.
Thomas Seal / Bloomberg:
Uber drivers in British Columbia joined a union, seeking to negotiate Canada's first bargaining agreement for rideshare drivers; Uber has agreed to meet  —  Uber drivers in Greater Victoria, the province's capital, joined UFCW 1518 before they kick off talks with the San Francisco-based platform …
More: Global News

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From Mediagazer

New York Times:
The US DOJ confirms it is probing whether ABC, CBS, CNN, NBC, and Fox violated antitrust law by briefly suspending White House pool coverage of President Trump

Washington Post:
The Trump administration aired two taxpayer-funded campaign-style TV ads into early Monday, per AdImpact, past a judge's Sunday evening deadline to stop them

Max Tani / Semafor:
Sources detail how ABC News initially defended then retracted an article about President Trump's sons' defense links, saying it was published “prematurely”

More News

Bhavya Sukheja / NDTV:
Mixpanel founder Suhail Doshi calls out Soham Parekh, who he says “works at 3-4 startups at the same time” and has “been preying on YC companies and more”
Mackenzie Hawkins / Bloomberg:
Siemens says it has restored full access to its chip design software for its Chinese clients after the Trump admin lifted export curbs, initially imposed in May
Molly Taft / Wired:
xAI has been granted a permit to operate 15 gas turbines at its Memphis campus until 2027, despite protests and a potential NAACP lawsuit over air pollution
Jessica Toonkel / Wall Street Journal:
Sources: Netflix has held talks with Spotify about partnering on projects such as a music awards show, as it adds content that was core to the cable bundle
Bloomberg:
Analysis: crypto ventures have added at least $620M to President Trump's fortune in months, overshadowing traditional real estate licensing deals

Earlier Picks

Maxwell Zeff / TechCrunch:
Perplexity launches a $200/month Max plan with unlimited Labs access, early access to features like Comet browser, and priority use of models like o3-pro
Bloomberg:
TikTok lays off workers from the US division of TikTok Shop, the third round of layoffs for the team since April, after a year of missing internal sales targets
Abbie Richards / Media Matters for America:
TikTok users are posting AI-generated videos, seemingly made with Google's Veo 3, depicting racist and antisemitic tropes that have garnered millions of views
Emma Roth / The Verge:
ICEBlock, an app for reporting sightings of ICE officials, was the top free app in the US App Store on Tuesday; the app claims to collect no personal data
Angelique Chrisafis / The Guardian:
A French court finds three ex-Ubisoft executives, including the chief creative officer, guilty of enabling a culture of sexual and psychological harassment
Kurt Wagner / Bloomberg:
X says it will start to publish Community Notes written by AI agents and developers will soon be able to submit their own AI agents for the company to review
Jordan Novet / CNBC:
Figma files for an IPO, plans to trade on the NYSE under the ticker FIG, and reports Q1 revenue up 46% YoY to $228.2M and net income up 233% YoY to $44.9M
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