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July 5, 2025, 12:00 AM
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memeorandum
WeSmirchTop News
| KBKG: |
President Trump signs the One Big Beautiful Bill, which allows immediate deduction of US software labor; foreign R&D still must be amortized over 15 years — Today, the House passed the Senate's version of the “One Big Beautiful Bill Act” (OBBBA), marking a significant overhaul to federal tax policy.
More: Axios, Bloomberg, ABC, Fortune, NBC News, and NewsMax.com
Bluesky: @unormal, @ianlandsman.com, @eva.computer, and @eva.computer
| Foo Yun Chee / Reuters: |
The European Commission says it won't pause the rollout of its AI Act, after Alphabet, Meta, Mistral, ASML, and others urged the EU to delay the rules by years — The European Union's landmark rules on artificial intelligence will be implemented according to the timeline agreed by legislators …
More: Reuters, PYMNTS.com, SiliconANGLE, Cryptopolitan, WinBuzzer, Neowin, Wall Street Journal, The Decoder, Politico, implicator.ai, and Bloomberg
| Yang Jie / Wall Street Journal: |
Sources: TSMC delays the construction of its second plant in Japan, initially slated for early 2025, to invest in US expansion ahead of potential Trump tariffs — Taiwanese semiconductor maker accelerates investment in Arizona — TOKYO—Taiwan Semiconductor Manufacturing is delaying construction …
More: Reuters, Proactive, Barron's Online, The Information, Morningstar, Inc., and The Economic Times
LinkedIn: Martijn Rasser and Bolaji Ojo
| Nikkei Asia: |
More: Engadget, SiliconANGLE, SamMobile, Guru3D, Tom's Hardware, and Digit
| Joshua Nevett / BBC: |
UK minister instructs the Turing AI institute, which has lately focused on responsible AI and ethics, to prioritize national security and defense instead — Science and Technology Secretary Peter Kyle has written to the UK's national institute for artificial intelligence (AI) to tell its bosses to refocus on defence and security.| Foo Yun Chee / Reuters: |
Doc: UK's Independent Publishers Alliance files an antitrust complaint with EU and the UK CMA against Google, alleging misuse of web content for AI Overviews — Alphabet's (GOOGL.O) Google has been hit by an EU antitrust complaint over its AI Overviews from a group of independent publishers …
More: The Verge, Press Gazette, MarketWatch, SiliconANGLE, PYMNTS.com, Android Headlines, iPhone in Canada, New York Post, Cryptopolitan, WinBuzzer, Nairametrics, The Decoder, MediaPost, and Search Engine Roundtable
Bluesky: @fabiochiusi. Mastodon: @1br0wn@eupolicy.social. LinkedIn: Chris Dicker, Angela Mills Wade, and Alix Dunn
| Murad Hemmadi / The Logic: |
Sources: Nvidia's deal to buy CentML, which offers tools to optimize the running of AI models on chips, could exceed $400M; CentML raised a $27M seed in 2023 — TORONTO — Nvidia's deal to acquire Canadian AI startup CentML could exceed US$400 million in value, The Logic has learned. — Exclusive| Brian O'Donovan / RTÉ: |
Meta says it backs proposals for an EU-wide age of digital adulthood, below which minors would need parental consent to use social media, calling it “effective” — Meta, the parent company of Facebook, Instagram and WhatsApp, has said it supports proposals for a common digital majority age across EU member states.| Dan Primack / Axios: |
PitchBook: AI startups received 53% of all global VC dollars invested in H1 2025, rising to 64% in the US, and accounted for 29% of all global startups funded — Artificial intelligence is eating venture capital. Or at least its dollars. … - That percentage jumps to 64% in the U.S.
More: The French Tech Journal, VCCircle, and PitchBook
| Salvador Rodriguez / CNBC: |
Sam Altman says he believes in “techno-capitalism” and is “politically homeless” as Democrats no longer encourage a “culture of innovation and entrepreneurship” — OpenAI CEO Sam Altman posted on X Friday, saying he finds himself “politically homeless” …
More: Gizmodo, Business Insider, and Fox Business
Bluesky: @anildash.com, @tandasmas, @gobsmacked, @rachelle82, @marypcbuk, @martinsfp, @andrewmceo, @nagler, @quinnypig.com, @scott.ganyo.com, @poticha, @carnage4life, @nightwriter, @charlesmire, @tgf6anth, and @telecom-terrorist.com
Forums: r/politics and r/ChatGPT
| Reuters: |
LumApps, which makes intranet software, agrees to merge with frontline staff communication app Beekeeper in a deal valuing the combined entity at about $1.1B — A merger between French business software provider LumApps and its Swiss peer Beekeeper will create a new unicorn worth about $1.1 billion, the two companies said.| Bloomberg: |
Daniel Gross leaves Safe Superintelligence, the AI startup he co-founded with Ilya Sutskever, to join Meta's new superintelligence lab and work on AI products — Daniel Gross, the former chief executive officer and co-founder of artificial intelligence startup Safe Superintelligence Inc. …
More: The American Bazaar, Neowin, Silicon Republic, implicator.ai, SiliconANGLE, Cryptopolitan, Wall Street Journal, and CNBC
X: @danielgross, @can, @lpolovets, @antimimetics, @distributionat, @matthewberman, @deryatr_, @marionawfal, and @natfriedman. LinkedIn: Yuliya Chernova
Forums: Hacker News and r/OpenAI
| Charlie Savage / New York Times: |
FOIA docs: the Trump administration claimed broad authority to nullify laws in letters to tech firms releasing them of legal liability related to the TikTok ban — In purporting to license otherwise illegal conduct by tech firms, President Trump set a precedent expanding executive power, legal experts warned.
More: 9to5Mac, The Economic Times, Engadget, Wired, PhoneArena, The Verge, The Mac Observer, Lawfare, Tech Times, Raw Story, Executive Functions, and Pixel Envy
Bluesky: @deanbaker13, @jwmueller-pu, @kimlanelaw, @justinhendrix, @quinnypig.com, @socialmedialab.ca, @judah-grunstein, @mickiedances, @erichluepke, @reckless, @reckless, @nero-wolfe, @chrisgeidner, @chrisgeidner, @henrythedog, and @texanokie07. Mastodon: @jschauma@mstdn.social
X: @megangra, @speechboy71, @arozenshtein, @ddayen, and @jacklgoldsmith
Forums: Hacker News, r/politics, r/politics, r/law, r/law, r/neoliberal, and r/politics
| Matt Levine / Bloomberg: |
As companies like SpaceX, Stripe, and OpenAI stay private longer, tokenized stocks on blockchains offer a way for the public to access lucrative private markets — Also BlackRock and privates, Vanguard and privates, the Paramount settlement and Enron 2.0. — ‘Tokenization’
More: Investopedia, This Week in Fintech, and TheStreet
| Wired: |
A look at Scattered Spider, a group of mostly young UK and US hackers using targeted social engineering to gain access to company networks and deploy ransomware — The Scattered Spider hacking group has caused chaos among retailers, insurers, and airlines in recent months.Sponsor Posts
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Cloudflare:
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IDrive:
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Channels with Peter Kafka:
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Sources:
Mark Zuckerberg on Muse, Meta's biggest AI bet yet
Candid conversations with the leaders shaping what's next in AI and the broader tech industry. Hosted by Alex Heath, who has covered Silicon Valley for more than a decade.
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