Top stories today:

1. Apple announces WWDC on Jun. 10-14, suggesting focus on AI
2. Truth Social +16% to $7.9B market cap on 1st day of trading
3. ChatGPT use grows, yet only 23% of U.S. adults have used it
4. Reddit sees highest user growth among top social media websites
5. Mumbai overtakes Beijing with most billionaires in Asia
6. iPhone shipments in China -33% YoY in Feb., from -39% in Jan.

0. Data and calendar

1. Apple announces WWDC on Jun. 10-14, suggesting focus on AI

“Absolutely Incredible [AI],” said Apple's SVP of Marketing on X:

• Main keynote on Jun. 10.

• Likely iOS 18 launch with multiple AI features.

• Possible macOS and visionOS announcements, again with new AI tools and more details on the Vision Pro's global availability.

2. Truth Social +16% to $7.9B market cap on 1st day of trading, leading Trump's wealth to $7.2B

Read more: Bloomberg.

Most of Trump's $7.2B is tied up in Truth Social and real estate, but he should be able to post his $175M bond by Apr. 4

Trump was ordered to pay $454M in his NY civil fraud trial, which is now on hold pending appeal:

4. ChatGPT use continues to grow, yet only 23% of U.S. adults have used it

Younger demos use it more often:

A strong majority believes AI tools should give credit to sources

5. Reddit sees highest user growth among top social media websites in Q4

Reddit is growing faster than even TikTok, likely fueled by news about its recent IPO:

Reddit has the largest % of users aged 18-34, at 66%, followed by X (59%) and TikTok (53%)

6. Mumbai overtakes Beijing with most billionaires in Asia, as NYC, London still lead globally

7. iPhone shipments in China -33% YoY in Feb., from -39% in Jan.

8. Interesting videos, posts, and memes

Emad Mostaque doing a call with Satya Nadella:

9. Other headlines

AI

• Emad Mostaque still owns 75% of Stability AI: behind the scenes.

• Rabbit R1 to be released on Apr. 24.

• Grok to be available to all X Premium users next week: Elon.

• Adobe's Firefly Services makes 20 AI APIs available to devs.

  • GenStudio brings brand-safe gen. AI to marketers.

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Tech

• BYD's revenue +15% to $24.9B in Q4.

• Robinhood's Gold Card includes 3% cash back going to investments.

• Dell laid off 10% of staff, eliminating 13K jobs, in 2023.

• Vision Pro will have Tencent content in China.

• Amazon launches same-day prescription delivery in NYC, LA.

• DroneUp trialing drone deliveries for Walmart, 7-Eleven, Chick-fil-A.

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Tech & law

• EU gives Apple, Google, Meta 12 months to solve DMA compliance.

• TikTok may be sued by FTC in “coming weeks.”

• Sun co-founder, billionaire, settles with SEC over $0.4M insider trading.

Biotech

• SCOTUS raises questions over standing in mifepristone case.

• Time-restricted eating's links to CVD risk could have opposite causality.

Business

• Baltimore bridge collapse: 6 presumed dead.

  • Contamined fuel could have played role.

• Xi meets with U.S. execs in Beijing, including Blackstone's Schwarzman.

• Yen drops to 152 per USD, weakest since 1990.

Crypto

• KuCoin + 2 founders charged by DOJ, face 10 years, still at large.

• HSBC Gold Token goes live.

• SEC seeks $1.9B from Ripple in judgment.

• Munchables game hacked for $62M.

• Tether establishes AI division called Tether Data.

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U.S. politics

• RFK Jr. names Nicole Shanahan, large donor, as VP candidate.

• Trump faces gag order on NY hush money criminal trial.

• RNC asking interviewees whether 2020 election was stolen.

• Ronna McDaniel fired by NBC after internal backlash.

World

• Milei to cut 70K state jobs in “coming months.”

• Assange's UK hearing delayed until U.S. can assure him 1A rights.

• Israel recalls negotiators from Doha after Hamas demands.

• Israeli hostage says she was sexually assaulted in Gaza.

• Evan Gershkovich's detention extended by another 3 months.

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