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Top stories today: - Advertising non-profit coalition GARM shuts down following X, Rumble suits
- Apple planning smallest Mac mini ever with M4 chip
- OpenAI discloses GPT-4o safety testing Scorecard
- DeepMind Robotics demos "solidly amateur" table tennis robot
- 30-year mortgage rate drops to 6.47%, lowest levels in 15 months
- Apple announces new rules, fee structure to comply with DMA
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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. Advertising non-profit coalition GARM shuts down following X, Rumble lawsuits |
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Parent World Federation of Advertisers (WFA) said GARM lacks financial resources. WFA claims no wrongdoing and will challenge X's lawsuit. WFA and other companies were the suit's named defendants, not GARM itself. GARM allegedly encouraged advertisers to boycott X after Musk's buyout.
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2. Apple planning smallest Mac mini ever with M4 chip |
Mac sales may get revived with the new model: |
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First major design change since 2010 revamp. 2 versions in development, one may have yet-to-be-announced M4 Pro chip. Apple TV set-top box-like size. 3 USB-C ports, HDMI port likely.
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4. OpenAI discloses GPT-4o safety testing Scorecard |
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The OpenAI board is also adding Carnegie Mellon Professor Zico Kolter to its board |
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5. DeepMind Robotics demos "solidly amateur" table tennis robot |
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Tested under competitive matches against 29 varying skill level players. Inaccurate reactions to fast balls is biggest shortcoming as of now. Advanced control algorithms, hardware optimizations proposed to cut latency. High-low balls, backhand, and spin reading, among other exploitable issues.
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The robot won 55% of matches vs. intermediate players, but lost all versus advanced players |
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6. 30-year mortgage rate drops to 6.47%, lowest levels in 15 months |
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7. Apple announces new rules, fee structure to comply with DMA |
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8. Interesting videos, posts, and memes |
 | #59: Google: Can it Outrun Regulation? |
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 | Navigating startup funding market trends with Becki DeGraw | Wilson Sonsini Startup Legal Basics |
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 | Ep14. Public Market Volatility, AI Air Pocket, $GOOG Ruling | BG2 w/ Bill Gurley & Brad Gerstner |
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 | #53 - Elad Gil: Blank Slates, Investing vs Operating, and the Future of AI |
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9. Other headlines |
AI |
Perplexity AI answered 250M queries in Jul, $35M ARR. Glean, enterprise AI startup, nears $250M round at $4.5B. Microsoft, Palantir partner to sell AI tools to U.S. defense, intel agencies. Hugging Face acquires XetHub, founded by ex-Apple employees. ChatGPT free users can now create up to 2 images daily using DALL-E 3. Flyr, AI-powered software for travel companies, raises $225M at $900M. SoundHound buys AI agent startup Amelia AI for $80M. Rabbit r1 gets conversational AI updates but nothing on LAM demoed earlier.
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Tech |
Amazon to let shoppers buy directly from in-app ads on TikTok, Pinterest. TikTok brings in-app hubs for videos about movies, TV shows. TSMC's sales +45% to $7.9B in July.
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Tech & law |
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Biotech |
Eli Lilly faces phase 2 failure of tau-targeting Alzheimer's med. Merck ends phase 3 TIGIT trial in lung cancer. Noah Lyles wins bronze medal in 200m even with Covid.
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Business |
Non-voting FOMC member: "not quite there" in cooling inflation. S&P 500 +2.3% on Thu in best day since 2023. Temu founder becomes China's richest with $48.6B net worth. Trend Micro, Japanese cybersecurity company, exploring sale. Paramount laying off 2K employees ahead of Skydance Media merger.
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Crypto |
Putin signs law to legalize crypto mining in Russia. WazirX, Indian crypto exchange, to undo all trades following withdrawal freeze.
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U.S. politics |
Trump, Harris agree to debate on ABC on Sep. 10. Trump open to debate Harris 3 times in Sep. Fed independence criticized by Trump, saying he has better instincts. Walz's military record: Rep. Banks's letter demands answers from Pentagon. Harris isn't giving interviews: pros and cons.
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World |
U.S. warns Iran of "serious risk" if Israel is attacked. Biden, Egypt, Qatar leaders urge Gaza cease-fire negotiation on Aug. 15.
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