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  • Apple allows alternative payment systems in App Store (with 27% fee), after Supreme Court denies to hear appeal

Apple allows alternative payment systems in App Store (with 27% fee), after Supreme Court denies to hear appeal

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Top stories today:

  1. Apple allows alternative payment systems in App Store
  2. Vision Pro getting 180-degree 3D 8K Immersive Videos
  3. China’s GDP +5.2% in 2023, as population shrinks, deflation remains
  4. Bitcoin ETFs in U.S. attract $1B in assets in 1st week since approval

0. Data and calendar

All values as of 6 AM ET / 3 AM PT, other than S&P500 close (4 PM ET / 1 PM PT).

All times are ET.

1. Apple allows alternative payment systems in App Store (with 27% fee), after Supreme Court denies to hear appeal

  • 27% fee (or 12% for selected small businesses) compares to the typical 30% (15%) and likely reflects the ~3% in average credit card fees.

  • U.S. only.

  • Collecting this fee may be hard, especially for smaller app developers, as Apple admits itself.

Epic CEO Tim Sweeney called Apple’s move “bad-faith compliance”

  • Unclear whether the courts will consider this fee to be in accordance with the outcome of Epic v. Apple.

2. Vision Pro getting 180-degree 3D 8K Immersive Videos

AR VC funding was down to $0.9B in 2023 in the U.S., from $3.1B in 2021

*Sponsored.

4. China’s GDP +5.2% in 2023, as population shrinks, deflation remains

Population dropped 2M to 1.409B, in its 2nd consecutive fall, the lagged effect of its 1980 one-child policy (ended in 2015)

The GDP deflator was -1.5% in Q4, the lowest since 1999

China relaunched its youth unemployment rate, with a new methodology (removing students) that unsurprisingly improved the metric

5. Bitcoin ETFs in U.S. attract $1B in assets in 1st week since approval

6. Remote work % in industry not correlated with excess productivity growth

7. Interesting videos, posts, and memes

8. Other headlines

AI

  • OpenAI working with Pentagon on cybersecurity tools.

  • Google Deepmind paying millions/year to top devs to avoid poaching.

  • Altman: no AI training on NYT after lawsuit.

  • Benioff (from Salesforce and Time): all [AI] training data has been stolen.

  • Sakana raises $30M at $200M to build smaller AI models.

Tech

  • Magic Leap raises $590M in debt to compete with Vision Pro.

  • Electra, European EV charging startup, raises $330M Series B.

  • Uber encouraging U.S. drivers switch to Tesla, other EVs.

  • Google search has more spam due to SEO: study.

  • Synopsys announce deal to buy Ansys in $35B cash-and-stock deal.

Tech & law

  • Shein faces China data review ahead of U.S. IPO.

Biotech

  • FDA approves Vertex/CRISPR gene therapy for blood disorder.

  • Life expectancy in Japan passes Hong Kong’s to be world’s #1.

  • Novo restarts Wegovy advertising with “Believe On” campaign.

Business

  • Fed’s Waller: Fed can cut this year if no inflation rebound.

  • ECB’s Lagarde: ECB will likely cut rates this week, data dependent.

  • Disney rejects activist Peltz’s board nominees, renominates Iger as CEO.

  • Jetblue’s acquisition of Spirit blocked by federal judge.

  • Filming in LA county -32% YoY in 2023 due to strikes.

  • Masterworks: invest in shares of paintings by Banksy and Picasso.

  • Arrived: learn how to invest as little as $100 in fractional real estate, which has outperformed the S&P500 over the past 20 years.*

  • The CEO Report: become a better leader by subscribing, 100% free.*

*Sponsored.

Crypto

  • SBF’s parents ask court to dismiss FTX estate lawsuit.

  • Ripple explored IPO, but plans are on hold.

  • IRS won’t enforce $10K crypto reporting rule — for now.

U.S. politics

World

  • Iran strikes Pakistan, killing 2 children, according to Pakistan.

  • Houthi targets in Yemen struck again by U.S.

  • Houthis to be put back on U.S. terrorist list.

  • China, Iran warns U.S. over Houthis.

  • Hamas fires 25 rockets into Israel from northern Gaza.

  • Israel, Hamas reach deal to get medicine to Israeli hostages.

  • Zelensky at Davos asks for peace plan with full Russian withdrawal.

  • Putin does not want to concede land, says Ukraine’s statehood threatened.

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