June 07, 2024 | Read Online

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0. Data and calendar

All values as of 4 AM ET / 1 AM PT, other than S&P500 and NASDAQ close (4 PM ET / 1 PM PT).

All times are ET.

1. GameStop stock +91% after Keith Gill schedules YouTube return today

At 12 PM ET / 9 AM PT:

YouTube.

$620M in est. profits on his $181M unverified GME position revealed on June 2.
Video description contains legal disclaimer, preempting potential accusations and investigations by regulators.
+91% includes after-hours performance.
Solana memecoin GME +148% to $197M market cap.

2. SpaceX successfully launches, brings back Starship for 1st time

Watch: SpaceX's Starship Successfully Completes Re-entry and Splashdown | WSJ News

Controlled ocean splashdowns of the Super Heavy booster and the Starship upper stage were conducted.
Next step are vertical landings on solid ground.
Reusability is key for long-term sustainability of space travel.
Meanwhile, Boeing's Starliner successfully docked to the ISS on its 1st space trip.

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4. Bitcoin ETFs see net inflow for record 18th day, as price nears $74K high

Bloomberg.

$62.3B in AUM, +$15.6B since their Jan. 11 launch (Grayscale and other funds already existed as trusts).
Record $37.7B in open interest for BTC futures.

5. Top NBA salaries projected to cross $100M/year in 2033

WSJ.

Led by a continued increasing demand for TV sports rights and live tickets.

6. Interesting videos, posts, and memes

'We're seeing profound reversal of a number of conditions'

The Alien Mind of AI | Robert Wright & Steven Pinker

Better AI Models, Better Startups

7. Other headlines

AI

ByteDance accessing AI chips via Oracle despite U.S. curbs.
OpenAI publishes paper aimed at understanding inside of LLM.
WhatsApp testing AI assistant for businesses.

Zero Inbox: Apple engineer designs new AI email organizer.*

*Sponsored.

Tech

Apple to announce Passwords app next week.
TikTok testing Snap-like streaks.
Elon could leave if pay package not approved again, shareholders warned.
Netflix tests redesign of TV app.
Google tests RCS feature for texting 911.
Carta's valuation could be cut from $8.5B to $2B in new fundraise.

Athyna: hire incredible global talent with the same company that Bay Area Times uses!*

*Disclaimer: Athyna is a partner of the Bay Area Times.

Biotech

JUUL vaping products see marketing ban rescinded by FDA.
Donanemab issues warned by FDA ahead of meeting, as Lilly defends safety.
Semaglutide success inspires copycats.

Business

Netflix sued for $170M by real life Martha from Baby Reindeer.
Unemployment rate exp. to remain at 3.9%, earnings growth 0.3% / 3.9%.
Saudi Aramco set to raise $11.2B.

Crypto

Core Scientific rejects CoreWeave's $1B+ bid.
Robinhood to buy Bitstamp for $200M.
Telegram launches Stars, new in-app currency.
FTX creditor group object to bankruptcy plan.
Kraken in talks for $100M pre-IPO fundraise.
Evolved Apes NFT scam sees 3 charged by DOJ.

Uniswap: simple, secure and lightning-fast swapping with the Uniswap web app.*

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U.S. politics

Biden: won't pardon son Hunter if convicted.
Steve Bannon ordered to start 4-month prison sentence on July 1.

World

Netanyahu to address Congress on July 24.
Hamas leader Sinwar only wants deal with permanent ceasefire.

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