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Top stories today: - Supreme Court sends social media moderation cases to lower courts
- Revolut's revenue 2x's to £1.8B, net profit jumps to £0.4B
- Steve Ballmer flips Bill Gates as #6 richest with Microsoft's rise
- Bridge rounds represent record 42% of seed rounds in Q1
- Mental health startup funding recovering vs. 2023
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0. Data and calendar |
 | All values as of 6 AM ET / 3 AM PT, other than S&P500 and NASDAQ close (4 PM ET / 1 PM PT). |
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 | All times are ET. |
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1. Supreme Court sends social media moderation cases back to lower courts |
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2. Revolut's revenue 2x's to £1.8B, net profit jumps to £0.4B |
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UK bank license is expected soon, which would allow the neobank to expand its offerings in its home country. In talks to raise ~$500M at $40B+.
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| | *Disclaimer: Athyna is a partner of the Bay Area Times. |
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4. Steve Ballmer flips Bill Gates as #6 richest with Microsoft's rise |
Ballmer has 90%+ of his net worth in Microsoft, while Gates has diversified his holdings (or diworsified, as Charlie Munger would say): |
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5. Bridge rounds represent record 42% of seed rounds in Q1 |
The percentage is also at or near highs for other VC rounds: |
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Normal seed rounds ran at a median $20M valuation, vs. $13M for bridge ones |
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6. Mental health startup funding recovering vs. 2023, but still much below 2021 |
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7. Trump now 71.9% favorite to win, from 65.7% last week: Nate Silver |
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This is broadly explained by Trump now having a 3% lead over Biden, nationally and in PA, from 1% in the prior week |
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8. Interesting videos, posts, and memes |
 | Matt Clifford: The Bull & Bear Case for China's Ability to Challenge the US' AI Capabilities | E1172 |
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9. Other headlines |
AI |
Character AI explores research partnerships with Google, xAI. Anthropic seeks to fund new generation of AI benchmarks. YouTube allows requests of removal of AI-generated content.
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Tech |
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Tech & law |
Biden admin provides $0.5B for 12 regional tech hubs. EU charges Meta over "pay or consent" model. NVIDIA to face French antitrust charges: sources. GameStop shareholder quickly drops suit against "Roaring Kitty."
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Biotech |
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Business |
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Crypto |
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U.S. politics |
Trump begins effort to overturn Manhattan conviction after ruling. Biden may be nominated by Dems on July 21 to ensure Ohio ballot. Google to mandate disclosure of digitally altered political ads.
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World |
NATO to station senior civilian official in Kyiv. Gaza militants fire barrage of missiles toward Israel. North Korea claims testing missile with "super-large warhead."
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