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August 3, 2025, 8:30 PM
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memeorandum
WeSmirchTop News
| Mark Gurman / Bloomberg: |
Sources: Apple formed an Answers, Knowledge, and Information team to work on ChatGPT-like search experiences; iPhone 17 Pro may have been seen in live testing — Apple has a new “Answers” team developing a stripped-down rival to ChatGPT to help users access world knowledge.
More: TechCrunch, MacRumors, Implicator.ai, Benzinga, PhoneArena, 9to5Mac, Engadget, KnowTechie, Philip Elmer‑DeWitt, Neowin, iPhone in Canada, Digital Trends, Appuals, iThinkDifferent, Mashable, AppleInsider, and Cult of Mac
X: @markgurman, @samsolid57, @firstadopter, @rustybrick, @markgurman, and @maxwinebach. Forums: r/apple
| Noah Smith / Noahpinion: |
A look at why the AI data center building boom could spark a financial crisis akin to 2008, including the rising use of debt financing via private credit funds — This time let's think about a financial crisis before it happens. — The U.S. economic data for the last few months is looking decidedly meh.
More: The Economist, Blood in the Machine, and Wall Street Journal
| Paul Kedrosky: |
As a percentage of US GDP, AI datacenter capex is already larger than peak telecom spending during the dot-com era and is approaching the railroad spending boom — AI capex is so big that it's affecting economic statistics, boosting the economy, and beginning to approach the railroad boom
More: Wall Street Journal. X: @birdyword, @mims, @partners_road, @mims, @bopanc, @mims, @mims, @bearlyai, @clairlemon, @josephpolitano, @trengriffin, @emollick, @lhamtil, and @dkthomp
| Clément Delangue / VentureBeat: |
Hugging Face CEO Clément Delangue says open-source AI is vital for US innovation and the US risks losing the AI race to China if it falls behind in open source — When President Trump released the U.S. AI Action Plan last week, many were surprised to see “encourage open-source and open-weight AI …
More: Analytics India Magazine. Mastodon: @brianstorms@mastodon.social. Threads: @robosubnick and @yannlecun
X: @sundeep, @bgurley, and @clementdelangue
| Jessica Roy / The Information: |
A look at newsletter platform Beehiiv, which has hit $30M in ARR and fees starting at $43/month for 1,000 subscribers, unlike Substack, which takes a 10% cut — Last August, when CNN's Oliver Darcy decided he wanted to leave the network and launch Status, an email newsletter focused on the media industry …
More: On my Om and Daring Fireball
Bluesky: @dannygroner. Mastodon: @jeffjarvis@mastodon.social. X: @joannastern, @denk_tweets, and @kendallbaker
| David DiMolfetta / Nextgov/FCW: |
The US Senate confirms Sean Cairncross to serve as National Cyber Director, making him the first Senate-approved cybersecurity official of Trump's second term — The Senate confirmed Sean Cairncross to serve as national cyber director in a 59-35 vote on Saturday night …
More: The White House, McCrary Institute, Cybersecurity Dive, and CyberScoop
| Haley Zimmerman / Wall Street Journal: |
An interview with Strava CEO Michael Martin on Athlete Intelligence, the premium AI “coach” introduced in 2024 that has alienated experienced users, and more — Over 150 million people use the fitness app. Michael Martin is hoping its new ‘Athlete Intelligence’ will convince more of them to pay for it.| Bloomberg: |
Asian financial hubs are updating stablecoin regulations and companies like Ant Group plan to become issuers, driven by US' embrace of dollar-pegged stablecoins — Asian markets are hurriedly updating their stablecoin rules as President Donald Trump's embrace of US dollar-pegged cryptocurrencies instills …
More: CryptoPotato, Motley Fool, Bitcoinist.com, and The Hindu
| Christina Kyriasoglou / Bloomberg: |
SAP plans to acquire HR software company SmartRecruiters, with the deal expected to close in Q4; SmartRecruiters was valued at $1.5B in a 2021 funding round — SAP SE, Europe's most valuable company, will buy San Francisco-based human resources software specialist SmartRecruiters.| Zack Abrams / The Block: |
Arkham Intelligence claims to have uncovered a previously undisclosed heist of 127,426 BTC, now worth ~$14.5B, from Chinese mining pool LuBian in December 2020 — - Blockchain analytics platform Arkham Intelligence claims to have uncovered a heist of 127,426 BTC, now worth nearly $14.5 billion, from a Chinese mining pool in 2020.| Bloomberg: |
Thoma Bravo agrees to acquire a stake in Chicago-based Trading Technologies, sources say the deal values the capital markets industry SaaS provider at over $1B — Buyout firm Thoma Bravo has agreed to acquire a stake in Trading Technologies International Inc. in a transaction valued at more than $1 billion …
More: Trading Technologies and Finextra
| Kieran Smith / Financial Times: |
Darktrace says it plans to invest $200M in the US in 2026, up 11% YoY, as part of a push to surpass $1B in revenue and grow its US sales to 50% of its revenue — UK-based cyber security group steps up investment plans following takeover by US private equity firm Thoma Bravo| Emily Baker-White / Forbes: |
A profile of Rumble founder Chris Pavlovski, who declined an offer to become CEO of Truth Social and opted to provide services to the platform through Rumble — Before he helped run Truth Social, Chris Pavlovski owned porn domains. Now, he's allied with a political movement that wants to ban pornography.| Wall Street Journal: |
Sources: the researcher who declined Zuckerberg's offer of a $1.5B+ package over six years is Thinking Machines co-founder and ex-Meta staffer Andrew Tulloch — The loyalties and larger-than-life figures prompting some people to turn down insanely lucrative offers in Silicon Valley right now
More: news.com.au, Times of India, Hindustan Times, Daily Mail, News18, The Free Press, Financial Express, Moneycontrol, Spyglass, and Livemint
Bluesky: @rightardia. Mastodon: @jackhutton@mstdn.social. Threads: @tomwarrenuk. X: @slow_developer, @signulll, @ns123abc, @nikitabier, @nearlydaniel, @jxmnop, @elonmusk, @asynccollab, @yuchenj_uw, @dorialexander, @object_zero_, @kyliebytes, @__paleologo, and @kyliebytes
Forums: r/singularity, r/technology, and r/usyd
| Allie Garfinkle / Fortune: |
The Marin Community Foundation sold 13.4M+ Figma shares for $440M+ in the IPO; source: the foundation had received the shares from Figma co-founder Evan Wallace — As Figma went public this week to much fanfare—and an almost instantaneous 250% stock pop—quite a few folks from Silicon Valley made money.| Anthony Ha / TechCrunch: |
More: Business Insider. Mastodon: @SuffolkLITLab@esq.social. X: @linamkhan, @vkhosla, @jkbustertruster, @lutherlowe, @florian4gamers, @adityaag, @matthewstoller, @negrolibre1, @silvermanjacob, @krishnanrohit, @krishnanrohit, @asglidden, @pascalthibeault, @balajis, and @balajis. Forums: Hacker News
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