July 16, 2024 | Read Online

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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).

All times are ET.

1. J.D. Vance, former tech VC who worked for Peter Thiel, selected as Trump's VP nominee

Vance got support on X from associates of Thiel (who himself doesn't use social media), including David Sacks, Elon Musk, Delian Asparouhov, and others:

X: David Sacks.

Vance's Narya VC raised $93M in 2020.
Investments: Rumble, Thrive, others.

2. Elon reportedly says he is donating $45M/mo to pro-Trump super PAC

America PAC, founded in May, so far has gotten $8.5M in donations and disbursed $7.8M in expenditures:

America PAC's Q2 FEC filing.

Get-out-the-vote operations in swing states are their focus, with most expenditures going towards In Field Strategies Inc.
Other backers: Joe Lonsdale ($1M), Shaun Maguire ($500K), Winklevoss twins ($250K each).

Other political news

Classified docs case in FL dismissed over constitutional grounds.
Bandaged Trump makes appearance at RNC's 1st day.
Gunman's phone unlocked by investigators, but full motives unclear.
Secret Service director calls shooting "unacceptable," won't resign.
Biden calls for 5% cap on annual rent increases.
72%: Nate Silver's Trump odds, with no post-shooting polls.

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4. European startup funding +17% YoY to $16B in Q2, still much below 2021-2022 levels

Crunchbase.

Late-stage funding +78% to $6.8B.
UK lead with $6.7B, followed by France ($2.9B), Germany ($1.8B).

5. Global PC shipments +3% YoY to 62.5M units in Q2

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6. Interesting videos, posts, and memes

YouTube video by 20VC with Harry Stebbings

Saam Motamedi: Why Series B Won't Make Money & Why $1M ARR is a BS Milestone for Series A | E1177

iOS 18 Hands-On: Top 5 Features!

7. Other headlines

AI

SpreadsheetLLM: Microsoft researchers unveil new AI model.

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Tech

Tinder parent Match stock +9% after Starboard builds 6.5% activist stake.
iOS 18, macOS Sequoia public betas released, including "Recovered" album.
Sequoia buying Stripe shares on secondary markets at $70B valuation.
OneStream, business SaaS, seeking to raise $466M at up to $4.4B.
Intel invested in 43 Chinese startups, raising alarms in Washington.

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Tech & law

Google offered €470M to derail Microsoft antitrust pact with EU.

Biotech

Huma Therapeutics raises $80M at ~$1B valuation.
Alzheimer's researchers working on models to predict speed of decline.

Business

Powell: last CPI numbers "do add somewhat" to confidence.
Segantii hedge fund has returned 90%+ of client money.

Crypto

ETH ETFs will start trading on July 23.
J.D. Vance owned $100K-$250K of BTC in 2022.
Mt. Gox moves nearly $2.7B in BTC ahead of payouts.

World

EU weighs reopening embassies in Taliban-run Afghanistan.

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