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  • Black Friday online sales +8% YoY to $70.9B globally, +9% to $16.4B in U.S.

Black Friday online sales +8% YoY to $70.9B globally, +9% to $16.4B in U.S.

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Top stories today:

  1. Black Friday online sales +8% YoY to $70.9B globally
  2. ‘Guidelines for secure AI system development’ unveiled
  3. Amazon delivering 5.9B parcels in U.S. in 2023, now #1 carrier
  4. Twitter reportedly could lose $75M in ad revenue by year-end
  5. Temu reaches 172M MAUs in U.S. in 1 year after launch

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. Black Friday online sales +8% YoY to $70.9B globally, +9% to $16.4B in U.S.

79% of e-commerce traffic was mobile, majority sourced from search, direct

2. UK, U.S., OpenAI, Google, others unveil non-binding ‘Guidelines for secure AI system development’ document

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3. Amazon delivering 5.9B parcels in U.S. in 2023, surpassing UPS to become #1

4. Twitter reportedly could lose $75M in ad revenue by year-end due to accusations of Elon Musk being antisemitic

Elon Musk has repeatedly rejected claims of antisemitism

5. Temu reaches 172M MAUs in U.S. in 1 year after launch

  • Already was dominant in China and around the world.

  • Invested $14M to run its Superbowl ad 2x, and $200M in the following quarter in PPC ads.

6. Interesting videos, posts, and memes

7. Other headlines

AI

  • Pentagon plans AI-enabled autonomous vehicles by 2026.

  • New technique could accelerate models by 341x.

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Tech

  • ByteDance fires 100s, winds down gaming division Nuverse.

  • Huawei creating smart car JV with Changan Auto.

  • Alibaba shuts down quantum computing lab.

  • Cyber Monday deals: The Verge compilation.

  • Ro co-founder Zach Reitano: WSJ profile.

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Tech & law

  • Meta ignored most of 1.1M reports of users under 13: complaint.

Biotech

  • Neuralink updates Aug. fundraising from $280M to $323M, likely at $5B.

  • China says no novel virus is causing rise in respiratory illnesses.

Crypto

  • CZ must remain in U.S. until sentencing: DOJ.

  • GBTC discount narrows to 8%, lowest since July 2021.

  • Richard Heart's initial court appearance delayed to Jan. 30.

  • Bitcoin sender pays record $3M transaction fee.

U.S. politics

  • Ukraine, Israel aid package unlikely before end of year: GOP rep.

    • Senate leader Schumer wants package approved in Dec.

  • Biden to skip COP 28 climate summit in Dubai this week.

  • Derek Chauvin, convicted in George Floyd killing, stabbed in prison.

World

  • Ceasefire could extend beyond Tue if Hamas releases 10 hostages/day.

    • Abbas wants Gaza under PA's sovereignty post-war.

    • Israeli-owned tanker seized near Yemen, then freed.

    • Source: Netanyahu tells Doha Mossad won't kill Hamas in Qatar.

    • Hostages share details of horrific conditions.

    • Elon Musk lands, meets Netanyahu.

    • Blinken expected later in the week.

  • China says it drove away U.S. destroyer that entered South China Sea.

  • Ukraine attack cuts power in some Russian-held territory.

  • Plan B Passport: learn how you can obtain one.*

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