Top stories today:

1. Google loses antitrust case over online ad practices
2. Netflix Q1 revenue +12.5% YoY to $10.54B, tops expectations
3. Google’s Gemini 2.5 Flash now in preview
4. Chatbot Arena, popular AI model-ranking site, becoming real company
5. Trump said to have discussed ousting Fed Chair Powell for months

0. Data and calendar

Listen to our AI-generated podcast summarizing today’s newsletter (beware of hallucinations):

1. Google loses antitrust case over online ad practices

• Could force Google to sell off part of its “network” ad business.

• 2nd major antitrust loss for Google this year, after the search case defeat in Aug.

• Google acted illegally to maintain its advertising monopoly, Judge Leonie Brinkema said in a 115-page ruling.

• The DOJ and 17 states had sued Google over its ad tech that allegedly inflated prices.

• “We won half of this case and we will appeal the other half,” Google's VP for regulatory affairs Lee-Anne said.

• Google’s display ad tools didn’t qualify as a monopoly, the judge ruled, dismissing the government’s claim.

• Both sides have 7 days to propose a schedule for the next phase.

3. Netflix Q1 revenue +12.5% YoY to $10.54B, tops expectations

• $10.51B in revenue was expected by Wall Street analysts.

• 31.7% of operating margin in Q1, up from 28.1% a year ago.

• Jan.: Netflix raised subscription prices, which helped boost its revenue.

• +16% in its subscriber base in 2024 to 301.6M subscribers globally.

• +15% in revenue is expected for Q2.

• Reed Hastings is stepping down from his executive chair role to the chair of the board.

5. Google’s Gemini 2.5 Flash now in preview

Gemini 2.5 Flash is ranked 2nd on Chatbot Arena, alongside GPT-4.5 Preview and Grok 3:

• Available via Gemini app, Vertex AI, and Google AI Studio.

• Fully hybrid reasoning model with the ability to turn “thinking” on or off.

• “Thinking budget” setting to set a cap on how much the model can “think”.

Gemini 2.5 Flash is costing $0.15/M input and $0.60/M output tokens

Google has called Gemini 2.5 Flash as its most cost-efficient thinking model

7. Chatbot Arena, popular AI model-ranking website, becoming real company

• LMArena will be the entity with the corporate name, Arena Intelligence Inc.

• Early 2023: Chatbot Arena was created as an academic research project.

• Will remain an open and neutral platform for testing AI models, Anastasios Angelopoulos, the project leader, said.

• LMArena is planning to raise money to support its growth as a company.

8. Trump said to have discussed ousting Fed Chair Powell for months, but hasn’t decided yet

Trump has apparently justified Powell’s ouster on Thu.:

• Feb.: Trump reportedly met Kevin Warsh at Mar-a-Lago to discuss possibly firing Powell before his term ends in 2026.

• Warsh has advised against firing Powell.

• Mar.: Trump also discussed Powell’s firing with others.

• Treasury Secy. Bessent has consistently pushed back against the decision to replace Powell.

• Fed chair removal before their 4-year term has never been attempted.

• Didn’t think legal challenge would ultimately apply to the Fed, Powell said.

9. Tim Cook worked behind scenes as Trump’s China tariffs hit Apple

• Last week: Cook reportedly spoke to the Commerce Secy. about the potential tariff impact on the iPhone.

• He also reached out to other senior officials in the White House.

• Refrained from publicly criticizing Trump or his policies, unlike other executives.

• Apple shares ~+7% after Trump exempted electronics on Sat.

• Hadn’t granted “any exemptions” to benefit Apple, the White House said.

10. China smartphone shipments +3.3% YoY to 71.6M units in Q1, surpassing 1.5% global growth

11. Mar. sees 11 new unicorns, adding $200B in value

12. Interesting videos, posts, and memes

13. Other headlines

AI

• Geoff Ralston, former Y Combinator president, launches new AI ‘safety’ fund.

• Anthropic invests $1M in Goodfire, first investment in startup.

• ChatGPT users trace photo locations with AI tools, prompting privacy fears.

• OpenAI launches Flex processing for cheaper, slower AI tasks.

• Apple Intelligence blocked by Meta on Facebook, its other iOS apps.

Tech

• Amazon preps Vega OS TV launch: report.

• Instagram launches Blend to create custom reels feed.

Tech & Law

• Discord sued by NJ attorney general over child predator concerns.

Biotech

• HepaRegeniX raises €21.5M to advance liver regeneration drug.

Business

• China tariffs may not rise further, Trump says, citing reluctance.

• EU weighs export restrictions on U.S. if trade negotiations fail.

• Ukraine minerals deal to be signed next Thu.: Trump.

• Trump says 100% confident on Europe trade deal.

• China stops buying liquefied gas from U.S.

• Ackman bets on Hertz rebound with ~20% stake.

• Abu Dhabi pushes ahead with major projects despite oil price slump.

Crypto

• Kraken cuts “hundreds” of jobs amid traditional finance push: report.

• Galaxy Research proposes new voting system to reduce SOL inflation.

• Arizona crypto reserve bill passes House committee, heads to third reading.

U.S. politics

• Supreme Court to hear Trump’s birthright citizenship request.

• Harvard’s ability to enroll international students threatened by Trump.

• Abrego Garcia case: judge blasts Trump admin’s “shocking” conduct.

World

• Zelensky accuses China of supplying Russia with weapons.

• Hamas rejects Israeli hostage-truce proposal.

Advertise on the Bay Area Times

Disclaimer: The Bay Area Times is a news publisher. All statements and expressions herein are the sole opinions of the authors or paid advertisers. The information, tools, and material presented are provided for informational purposes only, are not financial advice, and are not to be used or considered as an offer to buy or sell securities; and the publisher does not guarantee their accuracy or reliability. You should do your own research and consult an independent financial adviser before making any investments. Neither the publisher nor any of its affiliates accepts any liability whatsoever for any direct or consequential loss howsoever arising, directly or indirectly, from any use of the information contained herein. Assets mentioned may be owned by members of the Bay Area Times team. 

Please read our Terms of Service and our Privacy Policy before using Our Service.