Former President Donald Trump alleged that a crowd of 15,000 people at a Michigan rally for Vice President Kamala Harris was faked using AI technology, claiming election interference. He demanded her disqualification but multiple sources, including Fox News, Reuters, and the Detroit News, confirmed the crowd was real with videos and photos. Tech companies like Google, Meta, and Microsoft have pledged to monitor their platforms for AI-altered content, especially as the November election approaches. Google has mandated advertisers to disclose the use of deepfakes in political ads. Incidents of AI-generated content include an AI robocall imitating President Biden's voice sent to New Hampshire Democrats and a parody video of Harris shared by Elon Musk that used AI without disclosure.Learn more on this news visit us at: https://greyjournal.net/ Hosted on Acast. See acast.com/privacy for more information.

WeRide's planned Nasdaq debut aims to raise $120 million, valuing the Guangzhou-based autonomous driving startup around $5 billion. The company also seeks an extra $320 million through private investment, with financials showing $55 million in revenue and a $69 million net loss last year. Despite these figures, WeRide claims operational presence in 30 cities across seven countries, offering robotaxi, robobus, autonomous delivery vans, and "robosweeper" services. Interest in autonomous driving technologies is rising, with significant investments like London's Wayve raising $1.05 billion in May. However, many recent IPOs in this sector have underperformed. A successful IPO for WeRide could reinvigorate the sluggish tech IPO market and encourage more offerings.Learn more on this news visit us at: https://greyjournal.net/ Hosted on Acast. See acast.com/privacy for more information.

Former YouTube CEO Susan Wojcicki passed away at the age of 56 from non-small cell lung cancer. A key figure in tech, Wojcicki was Google's 16th employee and played a significant role in the company's early development. She held degrees from Harvard University, the University of California-Santa Cruz, and an MBA from UCLA. In 1998, she rented her Menlo Park garage to Google co-founders Larry Page and Sergey Brin and joined Google as a marketing manager in 1999. She climbed the ranks to become Senior Vice President of AdWords and AdSense and later, in 2014, CEO of YouTube after Google's acquisition of the platform in 2006. Significant leaders in the tech industry, including Google CEO Sundar Pichai and former Meta COO Sheryl Sandberg, acknowledged Wojcicki's impact on the field and her mentorship within the community.Learn more on this news visit us at: https://greyjournal.net/ Hosted on Acast. See acast.com/privacy for more information.

CNH Industrial, a major player in the heavy equipment sector, successfully navigates mergers and acquisitions under Michele Lombardi. The company faced challenges integrating startups in the booming agtech market five years ago, prompting Lombardi to expand their network by engaging with venture capital firms seeking exits for technologies like autonomous farm equipment. This strategy led to 12 deals in five years, balancing acquisitions and minority investments. Lombardi notes that venture investment in agtech has declined, creating opportunities for strategic corporate partnerships. He also mentions that the current market correction filters out weaker startups, strengthening the sector post-downturn. Lombardi's team focuses on strategic investments that align with CNH’s technological roadmap and involves different CNH units to evaluate startups for technological compatibility and industry impact. He emphasizes the importance of face-to-face interactions to gauge an entrepreneur's readiness for long-term partnerships.Learn more on this news visit us at: https://greyjournal.net/ Hosted on Acast. See acast.com/privacy for more information.

American consumers resist higher prices, signaling the end of the US inflation spike. Major companies notice customers seeking bargains or avoiding expensive items, resembling pre-pandemic behavior aimed at limiting price increases. This resistance aligns with the Federal Reserve's 2% inflation target, supported by improved supply chains and high interest rates that cool the housing and auto markets. While consumer spending drives over two-thirds of economic activity, fears of economic risks arise from potential spending pullbacks. Government updates this week are expected to show slight inflation reduction and cautious but ongoing consumer spending. Companies like Amazon and Yum Brands see price-conscious behavior affecting sales, even leading some to cut prices. Economists maintain that consumer spending remains robust enough to support the economy, but the tolerance for price hikes has decreased markedly post-pandemic, shifting pricing power dynamics back to consumers.Learn more on this news visit us at: https://greyjournal.net/ Hosted on Acast. See acast.com/privacy for more information.

U.S. stocks experienced a substantial uplift on Thursday, August 8, 2024, propelled by favorable unemployment data. The S&P 500 saw a 2.3% rise, marking its largest gain since 2022, with the Dow Jones Industrial Average increasing by 683 points (1.8%) and the Nasdaq composite climbing 2.9%. Treasury yields also rose, reflecting increased investor confidence. This shift occurred after unemployment claims data showed fewer workers applying for benefits than expected. Major U.S. companies reported stronger-than-expected earnings, contributing to market gains, with notable increases in Big Tech stocks like Nvidia, Apple, and Meta Platforms. Conversely, some sectors experienced significant declines, with McKesson and Bumble seeing notable drops. The S&P 500 closed at 5,319.31, the Dow at 39,446.49, and the Nasdaq at 16,660.02, with the 10-year Treasury yield reaching 3.99%.Learn more on this news visit us at: https://greyjournal.net/ Hosted on Acast. See acast.com/privacy for more information.

The European tech industry saw unprecedented investment levels across various sectors. Germany's AI startup GraphCore secured a $2.3 billion Series G round, achieving a $12 billion valuation, led by Sequoia Capital, to bolster R&D and AI computing platforms. UK-based fintech firm Revolut raised $1.2 billion in a Series E round from TCV and SoftBank Vision Fund, now valued at $8.5 billion, planning global expansion and enhanced financial services. French biotech company DNA Script obtained $800 million in a Series C round from General Atlantic to advance DNA synthesis technology. Swedish electric vehicle maker Polestar raised $600 million in a Series D round, backed by Volvo Cars and Geely, aimed at increasing production capabilities and promoting all-electric vehicles. Dutch health tech startup Philips Health secured $450 million in a Series B round from Northzone and EQT Ventures, focusing on AI-driven health solutions and telehealth services.Learn more on this news visit us at: https://greyjournal.net/ Hosted on Acast. See acast.com/privacy for more information.

Global stocks rose on August 9, 2024, due to positive U.S. unemployment data, alleviating concerns about a slowing economy. In Europe, France’s CAC 40 increased by 0.7%, Germany’s DAX climbed 0.3%, and Britain’s FTSE 100 went up 0.6%. U.S. futures for the S&P 500 rose 0.4%, and the Dow Jones edged 0.2% higher. In Asia, Tokyo’s Nikkei 225 closed 0.6% higher, while the yen extended its winning streak against the dollar. China reported a 0.5% increase in inflation for July. The Hang Seng index gained 1.2%, and Taiwan’s Taiex surged by 2.9%. The S&P 500 surged 2.3%, the Dow Jones added 1.8%, and the Nasdaq climbed 2.9%, driven by tech stocks. Treasury yields rose, with the 10-year yield reaching 3.99%. In energy markets, U.S. crude fell to $76.17 a barrel, while Brent crude dropped to $79.09 a barrel.Learn more on this news visit us at: https://greyjournal.net/ Hosted on Acast. See acast.com/privacy for more information.

Economists at JPMorgan Chase raise the likelihood of a recession in 2024 to 35%, up from 25%, with a 45% chance of recession in late 2025. U.S. wage inflation slows unlike other developed economies, suggesting restrictive Federal Reserve policy and potential rate cuts in September and November 2024. JPMorgan Chase CEO Jamie Dimon cites uncertainty from geopolitics, housing, deficits, spending, quantitative tightening, and elections. A recent jobs report shows the unemployment rate at 4.1% in June, causing volatility in the Dow, S&P 500, and Nasdaq.Learn more on this news visit us at: https://greyjournal.net/ Hosted on Acast. See acast.com/privacy for more information.

Mark Cuban initially supported Donald Trump's candidacy during the 2015 period before the 2016 election due to Trump's untraditional approach, which Cuban found appealing. Cuban explained that he didn't take Trump's campaign seriously at first and saw it as a way to disrupt the political scene. Over time, Cuban's perspective shifted, and he now opposes Trump, citing unethical behavior as a key reason. Cuban also criticized Elon Musk after Musk endorsed Trump. A registered Independent, Cuban supported Joe Biden in the 2020 election and has recently expressed support for Kamala Harris.Learn more on this news visit us at: https://greyjournal.net/ Hosted on Acast. See acast.com/privacy for more information.

Defense tech startup Anduril closed a $1.5 billion funding deal, valuing the company at $14 billion, up from $8.5 billion in December 2022. The company, founded by Palmer Luckey, aims to compete with established American defense contractors like Lockheed Martin, RTX, Northrop Grumman, Boeing, and General Dynamics by adopting a faster, Silicon Valley approach to defense production. Anduril recently won contracts over some of these companies for small unmanned fighter jet prototypes and reported doubling its revenue to about $500 million last year. The new funding, co-led by Founders Fund and Sands Capital, will help scale a new software-defined manufacturing platform called “Arsenal,” expanding production space by over five million square feet and employing more than 1,500 people to produce tens of thousands of autonomous military systems annually. The focus on software in the new factory aims to improve efficiency and allow for quick iterative changes in manufacturing. While Anduril’s success has sparked interest in the defense tech sector, its broader impact remains uncertain.Learn more on this news visit us at: https://greyjournal.net/ Hosted on Acast. See acast.com/privacy for more information.

Vice President Kamala Harris and Minnesota Governor Tim Walz are supporting organized labor during an appearance at a union hall near Detroit. Harris, the Democratic presidential nominee, and Walz addressed United Auto Workers (UAW) members, emphasizing their commitment to working people. After President Joe Biden endorsed Harris, labor organizations like the AFL-CIO and UAW also endorsed her. Harris and Walz focus on labor-friendly voters in key states like Wisconsin and Michigan to secure their support against Donald Trump and his running mate, Senator JD Vance. UAW President Shawn Fain expressed confidence in Harris' ability to win Michigan and maintain the White House. In Detroit, Harris also dealt with interruptions from protesters opposing Israel's actions in Gaza, reaffirming her stance on democracy and free speech. Union members, like Jeanne Ruff, voiced their support for Harris, hoping for her to visit union shops in Michigan.Learn more on this news visit us at: https://greyjournal.net/ Hosted on Acast. See acast.com/privacy for more information.

Amazon Prime Video became the largest ad-supported streaming service in the U.S. in January, marking a significant milestone for the platform. Amazon implemented ads for its 115 million U.S. subscribers, with only 15% opting to pay an additional $2.99 per month for an ad-free experience. This strategy is projected to generate $1.3 billion in ad revenue this year and $2.3 billion next year. Amazon views Prime Video as a standalone media company and continues to invest in original content. In 2023, Amazon MGM Studios received 68 Emmy nominations. Despite not being as prominent as Netflix or YouTube, Prime Video surpassed Hulu, Disney+, and Peacock in popularity according to Nielsen's June TV and streaming report.Learn more on this news visit us at: https://greyjournal.net/ Hosted on Acast. See acast.com/privacy for more information.

Venture funding in July 2024 reached over $23 billion, slightly decreasing month over month but increasing by over 20% year over year. The largest funding recipient was Vancouver-based legal tech company Clio, with $900 million led by NEA, marking the biggest round for a legal cloud tech company. Healthcare and biotech companies led sectors with $6 billion, followed by AI companies with $5.8 billion, together constituting about 50% of the total funding in July. AI funding saw significant growth in Q2, with notable rounds including Baichuan Intelligence ($687 million), Cohere ($500 million), and Helsing ($489 million). Hardware companies raised $3.3 billion, while financial services garnered $2.6 billion, ranking among the top five sectors. Michigan-based Lineage Logistics had the largest IPO of 2024, raising $4.4 billion, and Nasuni’s acquisition by Vista Equity Partners was valued at $1.2 billion. Biotech and healthcare dominated billion-dollar exits, unlike AI companies, which saw fewer large-scale exits as major tech firms opted for technology licensing and team acquisitions. Data was based on information reported up to August 5, 2024, with all values in U.S. dollars unless otherwise stated.Learn more on this news visit us at: https://greyjournal.net/ Hosted on Acast. See acast.com/privacy for more information.

Kevin O'Leary, from "Shark Tank," has partnered with Philip Inghelbrecht, Shazam founder and Tatari CEO, to launch WonderAds, a new television advertising agency. WonderAds aims to give small businesses access to large-scale TV advertising with simplified processes. The platform lets businesses run, purchase, and track ad campaigns via its dashboard. The TV advertising industry, valued at $235.9 billion in 2023, is expected to surpass $337 billion by the end of 2024. WonderAds provides tools to measure ad effectiveness and offers affordable, tailored packages. O'Leary backs WonderAds strongly, noting its importance in the current high-inflation environment and emphasizing its efficacy based on personal use.Learn more on this news visit us at: https://greyjournal.net/ Hosted on Acast. See acast.com/privacy for more information.

CrowdStrike denies responsibility for Delta Airlines' mass flight cancellations in July, attributing the issue to Delta's IT decisions. During the outage, CrowdStrike CEO George Kurtz offered assistance to Delta CEO Ed Bastian, which went unanswered. CrowdStrike's lawyer, Michael Carlinsky, communicated that Delta would need to justify its actions if it proceeds with the threatened lawsuit. Delta CEO Ed Bastian stated the need to seek damages to protect shareholders, customers, and employees, citing significant disruptions caused by a CrowdStrike update on Microsoft-operated devices and internal systems. This led to an estimated financial loss of $350 million to $500 million and 7,000 canceled flights. Although Delta plans to pursue legal action, it hasn't officially filed the lawsuit or specified the damages sought. As of Tuesday afternoon, Delta's stock had declined by over 15.5% year-over-year.Learn more on this news visit us at: https://greyjournal.net/ Hosted on Acast. See acast.com/privacy for more information.

Wall Street saw gains for the second consecutive day due to strong corporate earnings. S&P 500 futures jumped 1%, Dow Jones futures rose 0.8%, and Nasdaq futures climbed 1.3%. In Japan, the Nikkei 225 index ended 1.2% higher after positive signals from the Bank of Japan. The Walt Disney Company reported profitability in the third quarter, with its streaming business making money for the first time. Shopify's shares increased by 18% following strong results and upgraded guidance, with a 21% revenue growth year-over-year. CVS Health shares remained steady despite lowering its 2024 forecast for the third time. Airbnb's shares fell over 14% after a 15% drop in second-quarter profit. On Tuesday, S&P 500 ended a three-day losing streak with a 1% rise, the Dow increased 0.8%, and Nasdaq gained 1%, easing fears of a rapid economic slowdown. German DAX rose 1%, Paris's CAC 40 gained 1.4%, and London's FTSE 100 climbed 1.1%. In Asia, various indices, including Hong Kong's Hang Seng and South Korea's Kospi, also saw significant gains. U.S. crude oil prices rose to $74.86 per barrel, and Brent crude increased to $78.14. The euro slightly fell to $1.0921.Learn more on this news visit us at: https://greyjournal.net/ Hosted on Acast. See acast.com/privacy for more information.

Elon Musk has officially announced the shutdown of X's headquarters in San Francisco, citing difficulties in processing payments in the city. A memo from CEO Linda Yaccarino confirms that the Market Square office will close in the coming weeks, with existing offices in San Jose and Palo Alto remaining open to receive transferred employees. X, formerly known as Twitter, has operated from Market Square since 2012. Citing similar challenges faced by companies like Stripe and Block, Musk emphasized the necessity of relocation. Additionally, Musk revealed plans to move both X and SpaceX to Texas, influenced by local violence and a new California law impacting LGBTQ+ youth in schools. Tesla, another Musk-led company, has been based in Texas since 2021.Learn more on this news visit us at: https://greyjournal.net/news/ Hosted on Acast. See acast.com/privacy for more information.

Riverlane has raised $75 million in a Series C funding round led by Planet First Partners, with participation from ETF Partners, EDBI, Cambridge Innovation Capital, Amadeus Capital Partners, the National Security Strategic Investment Fund, and Altair. The U.K.-based company specializes in quantum error correction technology, aiming to improve the reliability of quantum computers. This funding round adds to a successful year for quantum computing startups, which have collectively raised nearly $1.4 billion in over two dozen rounds, nearly doubling the $777 million raised last year. Noteworthy contributions include PsiQuantum’s $620 million and Quantinuum’s $300 million.Learn more on this news visit us at: https://greyjournal.net/news/ Hosted on Acast. See acast.com/privacy for more information.

Wall Street shows signs of recovery as Japan's Nikkei 225 index rebounds over 10%, recouping most of its losses from earlier in the week. U.S. futures point to a more stable trading day with S&P 500 futures rising 0.8%, Dow Jones futures increasing 0.7%, and Nasdaq futures climbing 0.9%. Positive corporate earnings further bolster sentiment: Uber's shares surged 5.5% due to record revenue, while Caterpillar's shares rose over 4% on better-than-expected profits. Meanwhile, SunPower Corp. filed for bankruptcy protection, causing its shares to plummet. European markets exhibited mixed movements, with minor losses across key indices. In Asia, markets saw varied outcomes; South Korea’s Kospi rose 3.3%, the Hang Seng index closed 0.3% lower, and the Shanghai Composite index gained 0.2%. Australia’s and Taiwan’s stocks also advanced. Previous trading sessions saw significant declines due to disappointing U.S. job data and concerns over high interest rates, though growth in U.S. services offered some optimism.Learn more on this news visit us at: https://greyjournal.net/news/ Hosted on Acast. See acast.com/privacy for more information.

Elon Musk's company, X, leaves its historic headquarters in San Francisco. The company decided to relocate to a new, undisclosed location. The move marks the end of a significant chapter for both the company and the city. The company's presence in San Francisco had an impact on the local economy and tech community. The relocation plan began some months prior, with logistics and transition processes in progress. Employees received notifications about the move and necessary adjustments. The decision aligns with the company's future growth and strategic objectives.Learn more on this news visit us at: https://greyjournal.net/news/ Hosted on Acast. See acast.com/privacy for more information.

Miss Michigan, Alma Cooper, recently won the Miss USA title. Cooper, a U.S. Army officer, assumes her new role during a period of controversies and internal changes within the Miss USA organization. She intends to use her platform to advocate for veterans and service members, focusing on bridging the gap between military and civilian communities.Learn more on this news visit us at: https://greyjournal.net/news/ Hosted on Acast. See acast.com/privacy for more information.

TechCrunch Disrupt 2024 will introduce an AI Stage on October 30, featuring sessions and speakers such as Alexandr Wang and Aravind Srinivas. Srinivas will discuss Perplexity's AI-powered search engine, while Wang will reflect on Scale AI's growth and role in generative AI. Experts like Pamela San Martin and Imran Ahmed will tackle the misuse of generative AI for deepfakes and disinformation. Ali Farhadi and Irene Solaiman will debate open versus closed AI models. A panel with Sarah Myers West, Jingna Zhang, and Ben Zhao will address ethical and legal challenges in AI, focusing on issues faced by companies and content creators. Mikey Shulman and Amit Jain will explore the market for generative media and support for artists. TechCrunch Disrupt 2024 occurs from October 28-30 in San Francisco, aiming to provide essential resources for startups.Learn more on this news visit us at: https://greyjournal.net/news/ Hosted on Acast. See acast.com/privacy for more information.

Venture funding in the supply chain sector has seen a significant decline since its peak in 2021. Altana AI recently secured a $200 million Series C funding round, making it a notable exception in the struggling sector. This year, venture funding for supply chain startups is projected to be less than $2 billion, representing a 79% drop from the 2021 peak of $14.7 billion. Deal flow is also down, with just over 300 deals expected this year compared to 711 in 2021. Flexport, another key player, raised $260 million in January but faced challenges including a CEO change and acquisition of Convoy’s assets. Overall, venture funding has declined across sectors, but the drop in supply chain funding is particularly steep, with a predicted 76% decline from 2022. Investors show cautious interest, especially in AI technology within supply chain management, as evidenced by Altana’s recent funding round led by the US Innovative Technology Fund. The reduced urgency of pandemic-related disruptions is likely impacting investment sentiment in the sector.Learn more on this news visit us at: https://greyjournal.net/news/ Hosted on Acast. See acast.com/privacy for more information.

Wall Street braces for significant losses after Japan’s Nikkei index suffers its worst decline since 1987. On August 5, 2024, U.S. stocks are set to open sharply lower, with S&P 500 futures down 3.1% and Nasdaq futures down 4.7%. Major tech companies like Apple and Meta fall significantly in premarket trading. The Dow Jones Industrial Average futures drop 2.1%. Recent reports show U.S. hiring slowed more than expected, amplifying recession fears linked to high interest rates. Japan's Nikkei index plunges over 12% as the Bank of Japan raises its benchmark interest rate, leading to a sharp decline in the yen. Global markets follow suit, with significant drops in South Korea, Taiwan, and European markets. The VIX index, measuring investor anxiety, rises 105% early Monday. Bitcoin and oil prices also experience declines. Upcoming data from the U.S. services sector may indicate if global sell-offs are an overreaction, though caution remains high despite continued U.S. economic growth.Learn more on this news visit us at: https://greyjournal.net/news/ Hosted on Acast. See acast.com/privacy for more information.

On August 3, 2024, Mark Zuckerberg reportedly apologized to former President Donald Trump after Meta's AI assistant mistakenly labeled and censored a photo of Trump following a July attack on his life. Trump stated that Zuckerberg admitted the error during an interview and assured it was corrected. Zuckerberg allegedly praised Trump and mentioned he would not support Democrats in the upcoming election. After the rally shooting, Zuckerberg condemned political violence on Threads and emphasized its harmful impact on democracy. Elon Musk also endorsed Trump for President on social media in July. Trump and Zuckerberg have had a strained relationship, with Trump's social media accounts being suspended after the January 6 Capitol riots and reinstated in early 2023. Recently, Trump threatened to imprison Zuckerberg on Truth Social. As of now, Zuckerberg has not endorsed any 2024 election candidates.Learn more on this news visit us at: https://greyjournal.net/news/ Hosted on Acast. See acast.com/privacy for more information.

The US Justice Department accuses TikTok of violating children's privacy rules once again. This follows previous allegations and ongoing concerns regarding the platform's handling of young users' data. The accusations center on TikTok's data collection practices, questioning if they comply with the Children's Online Privacy Protection Act (COPPA). The Justice Department's actions underscore the continuing scrutiny over major tech companies' data protection practices, especially concerning minors. The current charges add to a series of legal challenges the company faces internationally regarding privacy issues.Learn more on this news visit us at: https://greyjournal.net/news/ Hosted on Acast. See acast.com/privacy for more information.

USA track and field Olympian Veronica Fraley struggled with paying her rent while competing in Paris for the Women's Discus championship. Despite her achievements, her school only covered 75% of her rent, with more financial support going to football players. In response, Flavor Flav offered to pay her rent and attend her competition, and Alexis Ohanian later joined in, splitting the payment and sending $7,760. Fraley expressed gratitude for the support from both individuals, which helped her focus on representing Team USA. Flavor Flav previously became the official sponsor of the U.S. Women's Water Polo Team earlier in the year.Learn more on this news visit us at: https://greyjournal.net/news/ Hosted on Acast. See acast.com/privacy for more information.

Automakers engage in significant multi-billion dollar startup funding, with 52 rounds in 2024 valued at nearly $2.8 billion. Major investments focus on autonomy and sustainability, with General Motors committing $850 million to Cruise and Hyundai Motor investing $183 million in 42dot. Electric vehicle adoption drives investments in sustainable battery production, evident from BMW backing Lilac Solutions with $145 million and Honda supporting Ineratec with $129 million. Toyota Ventures led with 10 financings, General Motors with eight, and BMW i Ventures with seven. Despite industry challenges, automakers continue investing to remain competitive.Learn more on this news visit us at: https://greyjournal.net/news/ Hosted on Acast. See acast.com/privacy for more information.

Wedding dress designer Hayley Paige Gutman testified before a Senate economic policy subcommittee about the negative impacts of noncompete agreements on careers. She detailed her three-and-a-half-year legal battle with her former employer JLM Couture, which prevented her from working in her field and maintaining her social media presence under her brand name for five years. The U.S. Federal Trade Commission has introduced a new rule to ban noncompetes, estimating it could generate 8,500 new businesses annually and increase average wages by $524. While opponents argue noncompetes protect trade secrets and retain employees, Gutman shared her ordeal, which included significant legal fees and highlighted the disparity between individual and corporate competition. The legal dispute ended in May with a settlement where Gutman regained rights to her name and social media accounts but agreed to pay JLM $263,000. She is now a small business owner and emphasizes resilience and the challenges of entrepreneurship.Learn more on this news visit us at: https://greyjournal.net/news/ Hosted on Acast. See acast.com/privacy for more information.

The U.S. economy added only 114,000 jobs in July, increasing the unemployment rate to 4.3%, affected by high interest rates. This job growth is significantly lower than June's 179,000 jobs and below the 175,000 expected for July. The Federal Reserve has raised its benchmark rate 11 times in the past two years to control inflation, impacting job growth. The average monthly job creation from January to June is 222,000, down from 251,000 last year and significantly lower than previous years. Despite easing inflation, consumers still face high prices, paying 19% more for goods and services than in early 2021. The June job report showed stronger growth than anticipated but included downward revisions for previous months, averaging 177,000 new jobs per month from April to June, the lowest since January 2021. Economists monitor the Sahm Rule, which suggests a recession if the unemployment rate rises significantly, but there's speculation that the rise in unemployment may result from new workers entering the labor force rather than job losses. Layoffs in June dropped to the lowest level in over a year and a half. The Fed may consider cutting interest rates if inflation continues to decrease; currently, inflation has dropped from 9.1% two years ago to 3% in June. Forecasts suggest hourly wages may rise by 3.7% compared to July 2023, aligning closer to the Fed's inflation target.Learn more on this news visit us at: https://greyjournal.net/news/ Hosted on Acast. See acast.com/privacy for more information.

The U.S. Securities and Exchange Commission (SEC) has been actively pursuing fraud cases involving startup founders. Recently, the SEC charged Abraham Shafi, the founder and former CEO of social media startup IRL, with defrauding investors. Allegations include making false statements about the company’s growth and concealing personal expenses charged to company credit cards. An internal investigation revealed that 95% of IRL's users were fake, leading to its shutdown in June 2023. The company had raised $200 million in venture capital, resulting in a $1.17 billion valuation. Additionally, the SEC charged BitClout founder Nader Al-Naji with fraud and an unregistered offering of securities, raising over $257 million in cryptocurrency. Similar charges were brought against Ilit Raz, CEO of the now-defunct AI recruitment startup Joonko, for defrauding investors of $21 million. The SEC also targeted venture firms, charging Robert Scott Murray and Trillium Capital LLC in May with a scheme to manipulate Getty Images Holdings Inc.'s stock price.Learn more on this news visit us at: Hosted on Acast. See acast.com/privacy for more information.

A key vote on a bipartisan tax cut package is expected today in the Senate. Democratic Senate Leader Chuck Schumer has challenged Republicans to support the package, which aims to expand the child tax credit and restore business tax breaks. Republicans are likely to oppose it, hoping to influence tax changes after upcoming elections. The package requires 60 votes in the Senate but faces significant hurdles. Developed by Rep. Jason Smith and Sen. Ron Wyden, the bill includes immediate business deductions and enhancements to the child tax credit, potentially lifting 500,000 children out of poverty and benefiting 16 million families. The bill is financed by fast-tracking the deadline for companies to submit retroactive COVID-related claims, a process considered fraud-prone by the IRS. Schumer proceeded with the vote to highlight its importance during election season. Sens. John Cornyn and John Thune criticized the vote as a campaign tactic, suggesting it should be addressed next year with a potential Republican majority to extend the 2017 tax cuts.Learn more on this news visit us at: https://greyjournal.net/news/ Hosted on Acast. See acast.com/privacy for more information.

AgroVision, based in Los Angeles, raised $100 million, achieving a $1 billion valuation, with Aliment Capital leading the funding round. AgroVision specializes in growing, packing, shipping, and marketing superfruits using branded labels and integrating proprietary genetics and data analytics into its operations. Monarch Tractor raised $133 million in a Series C round, co-led by Astanor Ventures and HH-CTBC Partnership, focusing on fully electric, driver-optional smart tractors and the WingspanAI platform for data, vehicle tracking, and crop image collection. These funding rounds aim to rejuvenate the agtech sector, which has seen $2.3 billion raised across 365 deals this year, a decrease compared to previous years.Learn more on this news visit us at: https://greyjournal.net/news/ Hosted on Acast. See acast.com/privacy for more information.

Amazon faces responsibility for risky third-party products and must take prompt action. This development arises as new regulations require the company to ensure the safety of items sold by independent sellers on its platform. As a result, Amazon will need to implement more stringent safety checks and compliance measures to protect consumers.Learn more on this news visit us at: https://greyjournal.net/news/ Hosted on Acast. See acast.com/privacy for more information.

ChatGPT now includes a human voice feature for a select group of ChatGPT Plus subscribers, allowing real-time interactions with four pre-loaded voices. This feature adapts to users' emotions and supports conversational interactions. The launch faced delays for safe scaling and received mixed reactions; some found the voices unsettlingly similar to real people, prompting legal consultations and company resignations. Tested in 45 languages, the feature ensures privacy protection and blocks copyrighted or violent content. OpenAI plans to report on GPT-4o's capabilities and limitations in early August. As of July 2024, ChatGPT has over 180 million users worldwide, with 3.9 million paying subscribers in the U.S.Learn more on this news visit us at: https://greyjournal.net/news/ Hosted on Acast. See acast.com/privacy for more information.

Spring Health raised $100 million in a Series E funding round, increasing its valuation to $3.3 billion, a 65% rise from 2021. Generation Investment Management led this round with participation from Kinnevik, The William K Warren Foundation, RRE Ventures, and Northzone. Founded in 2016 and based in New York, Spring Health has garnered nearly $467 million in total funding. The company partners with employers to provide mental health services using AI to speed up care delivery. Recent weeks have also seen significant funding activity in the mental health sector, with Talkiatry raising $130 million and Headway securing $100 million, valued at $2.3 billion. While not at 2021 levels, funding for mental health startups remains stable.Learn more on this news visit us at: https://greyjournal.net/news/ Hosted on Acast. See acast.com/privacy for more information.

Federal Reserve officials anticipate signaling a potential interest rate cut today. Inflation nears the Fed’s 2% target, and unemployment has risen to 4.1% this year. To balance inflation control and avoid a recession, officials may reduce rates by September to achieve an economic "soft landing." While Former President Trump opposes rate cuts before the election, Fed board member Christopher Waller considers a cut increasingly likely. Financial markets predict a rate cut at the next Fed meeting in mid-September. Jerome Powell, the Fed Chair, will discuss plans at the Jackson Hole conference in late August. Economists expect gradual rate cuts unless severe job market issues arise. Statements after Fed meetings may indicate further progress toward inflation goals. July data reveals inflation decreased to 2.5%, with falling rental prices and slower car insurance cost increases contributing to this decline. Wage growth has moderated, reducing inflationary pressures.Learn more on this news visit us at: https://greyjournal.net/news/ Hosted on Acast. See acast.com/privacy for more information.

Mark Zuckerberg envisions AI significantly expanding beyond single models like ChatGPT to individualized chatbots for each Meta user, enhancing personalization across Instagram, Messenger, Whatsapp, and the web. At the 2024 SIGGRAPH conference, he introduced an AI studio that allows users to create chatbots without coding. Nvidia CEO Jensen Huang praised this initiative, highlighting its potential to empower small businesses. Zuckerberg aims to quickly integrate user content to facilitate business agents for customer interactions and support. The AI studio's applications include providing specialized advice and emotional support, emphasizing the benefits of diverse AI personalities over a single model. Zoom CEO Eric Yuan also advocates for custom AI to optimize work efficiency, potentially reducing the standard workweek. Learn more on this news visit us at: https://greyjournal.net/news/ Hosted on Acast. See acast.com/privacy for more information.

Google's cloud division reached a $10 billion revenue milestone for the first quarter, but the company faced setbacks by losing out on two potential acquisitions worth over $20 billion each. Google initially failed to acquire Boston-based HubSpot, and then its $23 billion offer for cloud security startup Wiz was declined. Wiz's CEO, Assaf Rappaport, informed employees of the decision, emphasizing their aim to reach $1 billion in Annual Recurring Revenue (ARR) and pursue an IPO. Analysts suggest possible reasons for the collapse include Wiz's higher valuation aspirations, Google's due diligence findings, or regulatory hurdles. Wiz's rapid growth, achieving $500 million in ARR, further supports the company's decision to remain independent. Founded in January 2020, Wiz’s previous ventures include selling Adallom to Microsoft. Despite these acquisition challenges, Google's cloud division continues to show progress with a $40 billion run rate.Learn more on this news visit us at: https://greyjournal.net/news/ Hosted on Acast. See acast.com/privacy for more information.

Flo Health, a London-based provider of a women's health app, has raised over $200 million in a Series C funding round led by General Atlantic, achieving a valuation exceeding $1 billion. This milestone marks Flo as the first digital women's health app to reach unicorn status. Founded in 2015, the app has become highly popular for tracking ovulation and menstrual cycles and providing extensive health information. The company reports nearly 70 million monthly active users and close to 5 million paid subscribers, with 2024 bookings expected to surpass $200 million, reflecting a 50% increase from the previous year. Other significant funding rounds in the women's health sector include Maven Clinic, Kindbody, Gynesonics, and Natural Cycles, with investments ranging from $55 million to over $300 million.Learn more on this news visit us at: https://greyjournal.net/news/ Hosted on Acast. See acast.com/privacy for more information.

Zoe, a nutrition company from London, secures $15 million in Series B funding to expand in the United States. They provide at-home testing kits to analyze blood fat, blood sugar, and gut microbiome health, guiding users to make informed dietary choices. The total funding now stands at $118 million, with investment from Coefficient Capital. A recent randomized controlled trial in Nature Medicine highlighted Zoe’s effectiveness in improving biological markers and additional benefits like mood, sleep, and energy. Zoe is not weight-loss focused but aims to enhance overall nutrition. Their customer base exceeds 100,000, with most opting for a 12-month subscription. The new funding will boost marketing efforts in the U.S., except in New York due to regulatory issues.Learn more on this news visit us at: https://greyjournal.net/news/ Hosted on Acast. See acast.com/privacy for more information.

The 2024 presidential candidates present distinct approaches to managing artificial intelligence. Two days after President Biden signed an executive order on AI, Vice President Kamala Harris showcased it at an AI summit in London, emphasizing the need for quick regulatory action. Now running for president, Harris faces former President Trump, who promises to repeal the order if re-elected. Trump and the Republican National Convention argue the order restricts innovation, while Biden’s order aims to enhance AI safety. Harris has strong ties to Silicon Valley and has led efforts to draft an AI “bill of rights,” focusing on both immediate and existential AI risks. Trump has support from tech figures advocating for less regulation, with concerns that overregulation could hinder American AI leadership. Despite differing rhetoric, similarities exist in AI policies between the Trump and Biden administrations as the debate on maximizing benefits while minimizing harms continues.Learn more on this news visit us at: https://greyjournal.net/news/ Hosted on Acast. See acast.com/privacy for more information.

The 2024 Summer Olympics in Paris are creating significant challenges for local businesses. Despite increased visitors, shop owners report slow sales due to issues such as acts of vandalism and heightened security measures, including metal detectors and police checkpoints, which make certain landmarks and tourist attractions harder to access. Jean-Pierre Salson, a menswear shop owner, noted a decrease in tourists and sales since June, with July seeing even fewer visitors. Unions representing restaurants, hotels, retail stores, and nightspots indicated a 30 percent drop in revenue compared to previous years, and rising hotel prices have driven tourists to other European destinations. Airlines are also impacted, with Delta Airlines anticipating a $100 million quarterly loss due to the avoidance of Paris by non-attendees, affecting both business and leisure travel. The 2024 Summer Games began on July 26 and will continue through August 11.Learn more on this news visit us at: https://greyjournal.net/news/ Hosted on Acast. See acast.com/privacy for more information.

Amazon CEO Andy Jassy emphasized that earning employees' trust involves honesty, authenticity, and straightforwardness. Trust is built by being open about successes and failures, listening intently, and delivering on promises. Jassy noted that being respectful during disagreements and remaining committed to delivering outcomes are crucial. Amazon's leadership principles include "Have Backbone; Disagree and Commit," "Think Big," and "Dive Deep," initiated by founder Jeff Bezos. Jassy, who has been with the company for 27 years, continues to apply these principles, highlighting the need for constant adaptation to changes in people, products, and technology. Amazon has seen a growth of over 37.4% in the past year, reflecting the success of these principles.Learn more on this news visit us at: https://greyjournal.net/news/ Hosted on Acast. See acast.com/privacy for more information.

Altana AI, a New York-based supply chain management startup, secured a $200 million Series C investment led by the US Innovative Technology Fund, reaching a $1 billion valuation. Other investors include March Capital, Generation Investment Management, Salesforce Ventures, and existing investors like GV and Omers Ventures. Altana’s platform provides detailed visibility into global value chains, essential due to new trade restrictions and climate policies. The platform uses AI to analyze data and identify risks. Founded in 2018, Altana has raised a total of $322 million, with a $100 million Series B round led by Activate Capital Partners in 2022.Learn more on this news visit us at:https://greyjournal.net/news/ Hosted on Acast. See acast.com/privacy for more information.

Venture capital funding in the indoor farming sector has significantly decreased. Between 2019 and 2023, the sector received over $6 billion but has yet to deliver substantial returns, with a noticeable decline in large venture rounds in recent quarters. Prominent startups like AppHarvest have closed down, and most indoor farming companies haven't secured new funds since 2022. South San Francisco-based Plenty remains a key player, raising $940 million and forming a joint venture to build indoor farms in the Middle East. Despite the decrease in venture capital, the global market for indoor farming continues to grow, aiming to provide sustainable and local produce year-round but facing challenges with high infrastructure costs and long exit time frames for investors.Learn more on this news visit us at: https://greyjournal.net/news/ Hosted on Acast. See acast.com/privacy for more information.

The Federal Reserve may cut interest rates as early as September, potentially reducing borrowing costs for mortgages, auto loans, and credit cards for the first time since the pandemic. Currently, the Fed's key rate is approximately 5.3%. Futures markets suggest a 64% chance of three rate cuts this year, with potential cuts in September, November, and December. Economic conditions will significantly impact the Fed's decisions; stable growth and hiring might lead to gradual rate reductions, whereas a cooling labor market could prompt quicker cuts. Recent data shows a decline in job growth, reflecting a potential shift to sustainable post-pandemic growth or a recession. Fed Chair Jerome Powell emphasized the importance of a strong job market alongside inflation concerns. Current inflation trends suggest the rate might already align with the Fed's year-end target of 2.8%, with June data showing a drop to 2.5%. Upcoming statements and speeches, particularly at the Fed’s monetary policy conference in Jackson Hole, will provide further insights into future rate adjustments.Learn more on this news visit us at: https://greyjournal.net/news/ Hosted on Acast. See acast.com/privacy for more information.