Substack announces Notes, its Twitter competitor

Top stories today: 1) Substack announces Notes, its Twitter competitor, 2) Sequoia and others are backing Chinese ChatGPTs, 3) Google CEO confirms AI chat coming to search, 4) YC W23 demo day starts, focuses on AI and SF, 5) Meta to launch generative AI for ads this year, and 6) startup funding drops 55% to $37B in Q1.

29% of U.S. teens own VR headsets; 4% use them daily

Top stories today: 1) Trump is arraigned, next court date Dec. 4, 2) only 29% of U.S. teens own VR headsets, 4% use them daily, 3) Amazon launches AI accelerator, 4) Biden unsure if AI will kill us all, 5) public x private software valuation gap shrinks from 8x to 4x, and 6) another Forbes 30 under 30 arrested.

OpenAI's revenue at "hundreds of millions" per year

Top stories today: 1) OpenAI's revenue is at $200M+, 2) 2023 AI Index Report is released, 3) Trump is expected to face 34 counts and surrender at 2:15 PM ET, and 4/5) Apple and Google are cutting costs further.

ByteDance's revenue rises 30+% in 2022 to $80B+

Top stories today: 1) ByteDance's revenue grows to $80B+, 2) Tesla's deliveries rise 4% to 423K in Q1, 3) Trump expands lead in polls and betting markets, as we wait for tomorrow's surrender, 4) OPEC+ announces surprise 1.6M barrel/day cut, and 5) Twitter starts removing legacy blue checkmarks.

Trump is indicted, but markets don't care

Top stories today: 1) Trump is indicted, but markets still see him as the GOP frontrunner, 2) Press Secretary is asked about AI doomerism, and 3) Twitter's algorithm to be open-sourced today, as revenue from Top 10 advertisers fall 89%.

Bing AI Chat exploring ads

Top stories today: 1) Bing AI Chat exploring ads, 2) Google Brain and Deepmind partnering on new AI, 3) Apple WWDC should bring VR headset, 4) White House to propose tougher rules on $100B+ banks, and 5) Census shows trend towards suburbs, lower-tax regions.

Fed Vice Chair Barr previews expected new rules for banks

Top stories today: 1) Barr previews new rules for banks, FDIC, 2) SBF adds 13th charge: bribing Chinese officials, 3) Musk and others sign Pause AI letter, 4) Replit announces AI partnership with Google, and 5) Cerebras launches 7 open-source LLMs.

CFTC sues Binance and CZ for evading U.S. regulations, trading against customers

Top stories today: 1) CFTC sues Binance, 2) Twitter to further promote paid users, 3) Microsoft launches new Teams, no AI, 4) Zoom IQ to integrate OpenAI, 5) housing prices rise on the East Coast, and 6) China is almost surpassing the IMF in emergency loans.

First Citizens buys Silicon Valley Bank for $0.5B; FDIC expected to lose $20B

Top stories today: 1) First Citizens buys SVB, FDIC loses $20B, 2) Apple showcases VR headset to execs, 3) Twitter valued at $20B, 4) money markets funds gain $286B, and 5) CBO says 35-100% cuts are required to balance the budget.

ChatGPT announces Plugins, which integrate their AI with other websites

Top stories today: 1) ChatGPT launches Plugins, 2) Character.AI raises $150M, 3) TikTok CEO testimony is a flop, 4) Yellen says she's ready to help the banks, and 5) Fed adds another $94B to its balance sheet.

BUSD's market cap down 50% to $8B

Fed raises rates by 25 bps to 4.75% - 5.00%

Top stories today: 1) Fed raised rates by 25 bps, but markets are not buying hawkishness, 2) Yellen says no plans for full FDIC insurance, 3) SEC to sue Coinbase, sues Justin Sun, 4) FTX recovers another $500M+ from VC investments, and 5) Microsoft launches Notion competitor Loop.