Top stories today:

1. Apple's VP of iPhone, Watch design recruited by Ive, Altman
2. Apple files appeal after Biden does not veto Watch imports ban
3. Anthropic projects $850M in ARR in Dec. 2024
4. Microsoft Copilot app launched for Android; soon in iOS
5. Reddit's ad revenue +20% YoY to $800M+

0. Data and calendar

1. Apple's VP of iPhone, Watch design recruited by Ive, Altman to work on new AI device

• Devices for the home are among the projects in the concept stage.

• Ive/Tan to work on hardware, and Altman's OpenAI on software.

• February: Tang Tan set to leave Apple to join Ive's design firm LoveFrom.

2. Apple files appeal after Biden does not veto Watch imports ban

• Apple asked the U.S. Courts of Appeal for the Federal Circuit to pause the ban until U.S. Customs and Border Protection decides whether redesigned versions of the Watches still infringe Masimo's patents.

• Jan. 12: U.S. CBP to decide.

• Rare case where no settlement is reached: Apple seems confident it will win out in court or be able to circumvent the patent in a short time frame.

4. Anthropic projects $850M in ARR in Dec. 2024, from $100M in Oct. 2023

Previous estimate was $500M, in Oct. 2023:

5. Microsoft Copilot app launched for Android; soon in iOS

• 2 weeks after web launch on copilot.microsoft.com.

  • Copilot is Bing Chat without the search.

  • GPT-4V available for free, GPT-4 Turbo being rolled out.

• Our view: it's interesting that Microsoft is once again competing directly with OpenAI's ChatGPT, and even offering products at a loss, as Microsoft's main interests with AI are growing 365 and Bing more broadly, unlike OpenAI whose main monetization is ChatGPT Plus and GPT APIs.

6. Reddit's ad revenue +20% YoY to $800M+ as likely 2024 IPO nears

• Earlier goal was $1B in 2023.

• Now goal is $1B in 2024, and Reddit is asking ad buyers to up spending by 20%.

  • Video ad product in the works.

• 500M MAUs, bigger than Pinterest, which has 482M MAUs but $3B+ in annualized revenue.

• Not profitable in 2023.

7. Big Tech's investment in AI outpace conventional VCs in 2023

• 2/3 of the $27B invested in 2023 came from Big Tech, such as Microsoft's investment in OpenAI or Amazon's in Anthropic.

8. BYD expected to pass Tesla in EV sales, as its cheaper cars fuel exports

• Tesla is revamping the Model Y from its Shanghai plant. The new car

China just beat Japan to become the world's #1 car exporter

9. Home prices +0.6% MoM to new record

9 consecutive months of growth, after a brief downturn in 2022:

Read more: Bloomberg.

10. Interesting videos, posts, and memes

11. Other headlines

AI

• xAI incorporated as benefit corporation in NV.

• Harry Potter continues to be used in AI research.

Tech

• Amazon Prime Video to start showing ads on Jan. 29.

• Tesla robot injured employee in 2021: Daily Mail.

• 700 employees at $200M ARR: new normal.

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

• toddle: no-code tool to develop web apps 10x faster.*

*Sponsored.

Tech & law

• China's gaming stocks rebound as regulator says it will “study” concerns.

• Japan may mandate Apple, Google to allow outside app stores.

Biotech

• Semaglutide's benefits for heart failure not only weight loss-related.

• FDA rejects full approval of Amgen's lung cancer drug.

• Longevity 2023: from A to…

• BMS to buy cancer developer RayzeBio for $4.1B.

Business

• Bonner Private Wines: remote wines delivered to your doorstep.*

*Sponsored.

Crypto

• Airdrops reach $4.56B in 2023, -40% from 2022.

• Solana DEXs reach record volumes after airdrops.

• Grayscale chair resigns as parent DCG embroiled in ongoing disputes.

• CZ's fortune +$25B in 2023 to $37B as Binance bounced back.

U.S. politics

• Ramaswamy pauses TV spending, focusing on digital ads, outreach.

World

• EU prepares €20B plan B to fund Ukraine.

• 20% of Russia's Black Sea Fleet destroyed in 4 months: UK secretary.

• Iran 3x's production of nearly weapons-grade uranium: U.S.

• Houthis attack another ship as U.S. defends, does not retaliate.

• IDF: war will not end soon, only when Hamas defeated.

• Xi compares himself to Mao, says Taiwan reunification “inevitable.”

• China sanctions Los Angeles firm, 2 analysts.

• Navalny details “exhausting” 20-day transfer to Arctic prison in letter.

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