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TikTok ban bill to be voted in House today, as ByteDance does not want to sell it

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Top stories today:

  1. TikTok ban bill to be voted in House today
  2. CPI at 3.2%, core CPI at 3.8%, slightly above expectations
  3. Google restricts Gemini from answering questions about elections
  4. Startups cut headcount in 2023, prioritize ICs
  5. Subscription apps' most common pricing: $10/mo, $30/yr

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.

1. TikTok ban bill to be voted in House today, as ByteDance does not want to sell it

U.S. voters are generally split on the issue:

2. CPI at 3.2%, core CPI at 3.8%, slightly above expectations, yet markets still believe in a July rate cut

  • CPI: 0.4% MoM / 3.2% YoY in Feb., vs. 0.4% / 3.1% exp., from 0.3% / 3.1% in Jan.

  • Core CPI: 0.4% / 3.8%, vs. 0.3% / 3.7%, from 0.4% / 3.9%.

Monthly inflation came in at 0.4% for both core and broad, above the 0.16% necessary for the Fed to achieve its 2% goal

Markets price in 125 bps of rate cuts for the next 12 months, starting in June

  • Meet RAD AI—the tech startup that some of the biggest brands in the world are using to supercharge their digital marketing efforts. It's been called the “essential AI” for brands looking to attract new audiences and boost ROI.

  • Over 25 billion pieces of content are exchanged daily across the web. This is what the $633B MarTech and Data Analytics is fundamentally built on. RAD AI’s technology analyzes this entire universe for the sole purpose of helping brands deliver content and ROI.

  • Tripled revenue, attracting clients like MGM, Skechers, and Sweetgreen, and raised $27M from 6,500+ backers, including VCs and leaders at Google, Amazon, and Meta, with backing from Adobe's Fund for Design. 

* Sponsored. Disclaimer: This is a paid advertisement for RAD AI’s Regulation CF offering. Please read the offering circular at invest.radintel.ai.

4. Google restricts Gemini from answering questions about upcoming elections

5. Startups cut headcount in 2023, says Carta, as companies prioritize individual contributors over managers

60% of new hires were ICs, 35% managers, and 5% VP+, at startups worth less than $100M

6. Subscription apps' most common price points: $5/week, $10/mo, $30/yr

The most expensive categories are education, shopping, and business

  • 1.7% of downloads become paying subscribers in 1st 30 days.

  • Most trials are <=9 days.

  • Trial start time <=24 hours.

7. Epic Games shifts to $1,850 annual subscription for non-game developers

8. Interesting videos, posts, and memes

9. Other headlines

AI

  • OpenAI’s Mira Murati talks to WSJ on Sora.

  • Meta releases specifications for 2 new 24k GPU AI clusters.

  • Applied Intuition raises $250M at $6B valuation for AI vehicle software.

  • Cognition AI, the software copilot, raises $21M from Founders, Elad Gil.

  • Physical Intelligence gets OpenAI backing, building AI robots.

  • Tavus raises $18M for its generative AI video startup.

  • HubSpot: download the guide on how to use AI for better results, for free.*

  • RAD AI: AI marketing leader, 3X growth, trusted by Hasbro & MGM. Invest in AI today!*

*Sponsored. Disclaimer: This is a paid advertisement for RAD AI’s Regulation CF offering. Please read the offering circular at invest.radintel.ai.

Tech

  • Trump asked Elon if he wanted to buy Truth Social in 2023.

  • Apple will allow users to download apps from website in EU.

  • Chamath's VC firm hires law firm after firing two partners.

  • Physicists: quantum system energy problem is perfect for quantum computers.

  • Discord allows developers to build games and apps within chat.

  • Tor Project introduces WebTunnel: a system to help evade censorship.

  • citizenM has 14 tech-ready hotels stateside for the best night's sleep of your life.*

  • Techpresso: get smarter about tech in 5 min.*

*Sponsored.

Tech & law

  • IRS's Direct File online tool launches in 12 states.

  • Pentagon scraps Intel chip grant worth $2.5B.

Biotech

Business

Crypto

  • Coinbase plans $1B convertible note sale.

  • Ethereum's Dencun hardfork expected today.

  • Nigeria/Binance stand-off continues: authorities push for user data.

  • Craig Wright committed perjury in UK: crypto alliance.

  • Uniswap: making it easier to buy, sell and trade tokens on Ethereum.*

*Sponsored.

U.S. politics

  • Trump, Biden officially get enough delegates for nominations.

  • House GOP majority drops to 218 × 213 as Ken Buck retires.

  • Hur defends not charging Biden, but says he was not exonerated.

  • Kennedy Jr. considering Aaron Rodgers, Jesse Ventura as VP.

World

  • Putin’s warning: Russia “ready” for nuclear war if U.S. sends troops.

  • Ukraine getting $0.3B from Biden admin despite Congress holdup.

  • Drone attack in Russia hits oil refinery.

  • Navalny's associate attacked with hammer outside home in Lithuania.

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