Tech exec fear, Paul Atkins’ war on you, Jamie Dimon says a lot
Story of the Week (DR):
‘We faltered’: IBM stock collapses after a grave warning about AI
Customers are Prioritizing AI Hardware: While IBM mostly sells software nowadays, businesses are currently cutting back on their software budgets. Instead, they are rushing to spend their money on physical computer parts (like chips and servers) needed to build new Artificial Intelligence systems.
Former Intel CEO says the chipmaker went off the rails ‘when it started to be run by business people’
The inside story of IBM’s shocking profit warning
Xbox CEO Joins Fed AI Jobs Task Force Days After Announcing 3,200 Layoffs
Xbox CEO Asha Sharma, who previously worked in Microsoft’s Core AI group before taking over Xbox, joins Marc Andreessen, co-founder and general partner at Andreessen Horowitz, and Charles I. Jones, a Stanford University economics professor currently on leave at Anthropic.
Productivity and Jobs task force, which will study the economic impact of new general-purpose technologies, including AI, as part of the central bank’s approach to monetary policy.
Marc Andreessen Says AI Is 'Already a Better Doctor Than 99.99% of Human Doctors'
Jamie Dimon says he understands why people have grown 'anti-rich'
Gallup CEO says colonizing Mars may be closer than fixing today’s ‘broken’ workplace—where disengagement levels are as high as 2020
Elon Musk Says His Goal Is for SpaceX to Be Worth More than the Entire Earth
The U.S. Added 441,000 Millionaires Last Year, While the Typical American Got 20% Poorer
James Murdoch may have reaped as much as $7.5 billion from his pre-IPO investment in Elon Musk’s SpaceX
Palantir CEO Alex Karp Warns AI Could Become America's Biggest Driver of Wealth Inequality
"You now have a revolution where, you know, I could become 20 times wealthier than I am now," he added. Karp said AI is creating a "complete decoupling" between ordinary economic gains and a small group of people accumulating "unimaginable wealth."
The AI Backlash Has Tech Executives Fearing for Their Lives MM
Peter Thiel and other tech billionaires are publicly shielding their children from the products that made them rich
Anthropic's New AI Ad Is So Disturbing, OpenAI CEO Sam Altman Thought It Was Satire
Meta Oversight Board study: AI chatbots may be the most perfect propaganda machine ever invented
A Majority of Americans Now Support Seizing Wealth From AI Industry
Goodliest of the Week (MM/DR):
DR: New York bans data center construction for a year, rattling AI industry AND New York becomes first U.S. state to impose AI data center ban
MM: FREE FLOAT! MM
Microsoft’s emissions rose 25% last year. Experts say they’ll surge even more dramatically in the years ahead
We said FIVE YEARS AGO that MSFT board was one of the worst at managing carbon despite setting a net negative target at the time
We were correct
Assholiest of the Week (MM):
It’s not us, it’s you
xAI sued a Grok user for allegedly generating deepfakes of child sexual abuse
In the ultimate in tech bro manbaby id, Musk is blaming the USERS for his failure to stop child sex abuse
Like a gun company suing a gun owner for using the gun used in murder - gun terms of service!
Dimon urges calm over fear about AI's impact on jobs: 'Stop being breathless over it'
AI isn’t the problem, your breathless fear is
Robotaxis Are Turning Passengers Into Horrible and Entitled Menaces to Society
It’s not the service, it’s the user…
Meta CTO Says He'd Like to Sue Leakers, Then Audio From That Same Meeting Leaks
It’s not what I said that’s the problem, it’s that you told someone
Peter Thiel and other tech billionaires are publicly shielding their children from the products that made them rich
But YOUR children should use them, obviously
It’s the USER’s fault now… unless, of course, it’s a school - in which case the SCHOOL is to blame:
84% of students use AI for homework. Only 3 in 10 schools have rules for it
Access
White House teleprompter operator investigated over alleged trades on Trump speeches
Trump Media to Sell Faster Access to President’s Social Posts
OpenAI Strikes Bold Deal With Kalshi to Mix Together the Most Hated Technologies in Existence: AI and Prediction Markets
DOJ Defends Musk's Unpermitted Gas Turbines, Saying Shutting Down Grok Threatens National Security
Elon Musk’s $1 million offers to voters in Wisconsin election were probably illegal bribes, bipartisan panel rules
Paramount Shareholder Sues Ellisons, Board For Alleged Side Deal, Promises To Donald Trump
Michael Dell has nailed his relationship with Donald Trump, and it's paying off
Meritocracy
Pete Hegseth Announces Military Will Test Service Members' Testosterone Levels and Offer Hormone Therapy
Everyone is a trans man!
Is AI Rejecting Your CV Because of Your Age or Race? Landmark Lawsuit Could Reshape Recruitment
For Black women hit by anti-DEI backlash, this election is personal
Australia's highest paid CEO makes 500 times the average salary
The American E.V. Has Been Crushed. Will It Take the U.S. Auto Industry With It?
WE WANT THE CARS. Just give us the Chinese ones now
Jim Cramer on Meta: “Zuckerberg’s Not a Bozo, You Can Quote Me on That”
Paul Fucking Atkins and The War on John Cheveddan DR
“Regardless of the fate of Rule 14a-8 next season and beyond, I implore all who have a role in the shareholder proposal process to not let it be weaponized by those who represent fringe interests. Annual meetings are not vehicles for political or social debates that have little or no bearing on investors’ financial returns.”
“This past season, one—yes, one—individual was the sole or lead proponent for approximately 41 percent of the shareholder proposals that were voted upon.[20] Of this individual’s proposals, only eight percent received majority support.[21] Simply put, when a single shareholder can seize annual meetings to present scores of proposals on issues that are not generally supported by other shareholders, the system is woefully ineffective and in desperate need of reformation.”
That individual is John Cheveddan
Atkins neglected to mention the rise of anti-ESG filers as a group, and their average of <1% support
Also neglected to mention that companies LET CHEVEDDAN THROUGH the process, so there is a bias in who even got to vote (and what percentage of proposals were allowed on the ballots, because he stopped reporting in March)
Also neglected to mention that 8% winning is MASSIVE YEAR OVER YEAR - typically NO ONE WINS EXCEPT CHEVEDDAN
Meanwhile, no SEC suit against Trump Media who…
Hasn’t filed a proxy since March 2025
Just had >50% of the board flip in the last 2 months
Headliniest of the Week
DR: Charles "Dan" Phillips Joins the Redwood Capital Bancorp Board of Directors
DR: Evidence Grows That Taco Bell Infected Massive Number of Customers With Explosive Diarrhea
MM: General Mills is recalling nearly 736,000 Pillsbury bread rolls over possible glass
Who Won the Week?
DR: Insider Traders
MM: All journalists who pen headlines that read “Jamie Dimon says…”:
Jamie Dimon Said the Clarity Act's Stablecoin Rules Will "Blow Up" the System. JPMorgan Chase's June 29 Position Paper Explains Why.
JPMorgan CEO Jamie Dimon says he’s eyeing up book deals and teaching gigs when he steps away from his decades-long career at the banking giant
Jamie Dimon says JPMorgan has slashed 40% of jobs in some departments, thanks to AI
Jamie Dimon says he understands why people have grown 'anti-rich'
Jamie Dimon Says the U.S. Economy Is Showing ‘Resiliency’—But Risks Threaten ‘Meaningful Disruptions’
Jamie Dimon says broad access to Mythos would be like giving 'ballistic missiles to individuals'
JPMorgan CEO Jamie Dimon says 300,000 workers are needed to rebuild American shipbuilding—with jobs paying $100,000 without a college degree
Predictions
DR: A female judge tells xAI to eff off with its lawsuit against Grok user
MM: Secretive Silicon Valley Startup Tries to Quash Interview, Says It’s Definitely Not Working on Growing Brain-Free "Organ Sacks" - I predict that, in the next year, companies begin announcing exclusively what they are NOT working on
