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July 4, 2025, 10:25 PM
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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, NBC News, and NewsMax.com
Bluesky: @unormal, @ianlandsman.com, @eva.computer, and @eva.computer
| Jordan Blum / Fortune: |
| 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, PYMNTS.com, SiliconANGLE, Press Gazette, MarketWatch, Nairametrics, Android Headlines, iPhone in Canada, New York Post, WinBuzzer, Cryptopolitan, The Decoder, MediaPost, and Search Engine Roundtable
Bluesky: @fabiochiusi. Mastodon: @1br0wn@eupolicy.social. LinkedIn: Chris Dicker, Angela Mills Wade, and Alix Dunn
| 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: Proactive, Reuters, 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
| 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
| 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, Reuters, SiliconANGLE, Cryptopolitan, WinBuzzer, Neowin, Wall Street Journal, The Decoder, Politico, implicator.ai, and Bloomberg Law
| 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.| 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.| 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| 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, Engadget, Wired, The Verge, PhoneArena, 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
| 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
| 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.| Gian Volpicelli / Bloomberg: |
Sources: Google plans to propose a price comparison box at the top of search results in the EU, featuring ranked options from competitors, to avoid DMA fines — Under the plan, a box at the top of Google's search results will show ranked options from price-comparison companies' websites …
More: Fox News, Livemint, and Search Engine Roundtable
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