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Top stories today:
- Elon says he formed centrist America Party
- TikTok said to be building new version of app for U.S. users
- Trumpās āBeautiful Billā raises QSBS tax-free gains for founders, VCs
- Ilya Sutskever becomes Safe Superintelligence CEO
- Mysterious whale moves $8B+ in historic Bitcoin transfer
0. Data and calendar
All values as of 6 AM ET / 3 AM PT, other than S&P500 and NASDAQ close (4 PM ET / 1 PM PT).
All times are ET.
Listen to our AI-generated podcast summarizing todayās newsletter (beware of hallucinations):
1. Elon says he formed centrist America Party
ā[L]aser-focus on just 2 or 3 Senate seats and 8 to 10 House districts,ā Elon Musk said on X.
TBD: details on the new party.
The decision came a day after Trump signed his tax-cut and spending bill.
Pro-AI and pro-growth define the America Party wishlist proposed by tech investor Tyler Palmer.
āSaddened to watch Musk go completely āoff the rails,ā essentially becoming a TRAIN WRACK,ā Trump said on Truth Social.
A 3rd political party has never succeeded in the U.S. and is good for only creating āComplete and Total DISRUPTION & CHAOS,ā Trump said.
Tesla stock was -6% in pre-market trading on Mon.
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3. TikTok said to be building new version of app for U.S. users ahead of sale
Representational image generated using ChatGPT.
Sep. 5: the new app, codenamed M2, is reportedly set to debut on the U.S. app stores.
Mar. 2026: the existing TikTok app will be shut down in the U.S.
Data-security concerns could be addressed by the new app.
Fri.: Trump suggested that the U.S. was close to a deal for a group to buy TikTokās U.S. operations.
Trump admin would start talking to Chinese authorities on the deal this week.
Relatedly, Apple and Google were told to ignore TikTok ban, citing Trumpās constitutional powers, newly disclosed letters show.
4. Trumpās āBeautiful Billā raises QSBS tax-free gains to $15M for founders, VCs
