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- 🚀 Google vs DOJ
🚀 Google vs DOJ
PLUS: Starbucks replaces CEO Laxman with Chipotle CEO, Trump Media reports $16 million loss
Dear founder, here’s your 3-minute recap (without the fluff):
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The U.S. government is considering breaking up Google to address its illegal monopoly in online search, according to discussions between the Justice Department and state attorneys general (link)
Starbucks replaces CEO Laxman Narasimhan with Chipotle CEO Brian Niccol in a leadership shakeup amid the coffee chain's struggling performance (link)
Trump Media reports $16 million loss for quarter as revenue falls by 30% (link)
New tools, resources, funding updates & job postings
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Motion - AI that intelligently plan your day, schedule meetings, and build the perfect to-do list (link)
Hypotenuse AI - Instantly transform keywords into blog articles, eCommerce content, and more (link)
Afforai - An AI chatbot that searches, summarizes, and translates info from multiple sources to produce trustworthy research (link)
Spline AI - A free 3D design software with real-time collaboration to create web interactive experiences in the browser (link)
Huru - A job AI interview prep app that helps to practice unlimited interviews and get immediate feedback with AI (link)
Genei - Helps you automatically summarize background reading and produce blogs, articles, and reports faster (link)
đź“š Resources
The path for ambitious MBAs is changing (link)
How to generate and validate startup ideas in 2024 with AI (link)
The funniest ad copy collected this week (link)
Simon Sinek on how to stand out in your industry (link)
PS. If you’re interested in this AI stuff, you should sign up for our other newsletter - Prompts Daily. It has 100,000+ readers (Executives, VCs, and engineers). Sign up with one click.
đź’° FundingGuidewheel raises $31M Series B to scale AI-powered FactoryOps across factory floors globally (link) FRVR raises $12.7M for AI-powered game creation (link) | đź’Ľ Job BoardSenior Software Engineer at Reddit (Remote) Technology Partner Manager at Couchbase (link) |
đź’Ś Etcetera
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American government built the meat industry. Now can it build a better food system?
Unbelievable before and after photos of the deadliest volcanic eruption in U.S. history
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🗞️ News
U.S. considers breaking up Google
The U.S. Department of Justice is exploring a potential breakup of Google following a court ruling that found the tech giant illegally maintained a monopoly in online search. Discussions include divesting parts of the business, such as the Chrome browser and Android operating system, or requiring Google to share data with competitors.
The Justice Department aims to propose remedies by early September, with a hearing scheduled for September 6. Google's plans to appeal the ruling could further complicate the situation.
Starbucks replaces CEO Laxman with Chipotle CEO
Starbucks has announced the immediate ousting of CEO Laxman Narasimhan, effective August 13, 2024. Brian Niccol, currently CEO of Chipotle, will take over on September 9. This leadership change comes as Starbucks faces declining sales in its key markets, the U.S. and China.
Following the news, Starbucks' stock surged over 24%, while Chipotle shares dropped by more than 10%. Narasimhan's departure follows a challenging year for the coffee chain, which has seen a 3% decline in same-store sales.
Trump Media reports $16 million loss
Trump Media reported a net loss of $16.4 million for the second quarter of 2024, with revenue plummeting 30% to just $836,900. The losses were largely attributed to $8.3 million in legal expenses from its merger with Digital World Acquisition Corp. and $3.1 million in IT costs related to its new streaming service, Truth+.
Despite the financial setbacks, the company maintains a strong balance sheet with $344 million in cash and no debt, asserting it has sufficient capital for future operations. Following the announcement, Trump Media's stock fell over 7%.
That’s it for now!
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