🚀 Visa and Mastercard Settle for $30 Billion

PLUS: Trump Media Stock Plunges 21%, OpenAI Restructures Startup Fund

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Dear founder, here’s your 3-minute recap (without the fluff):

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📚 Resources

Warren Buffett on turning $114 into $400,000 (link)

Best ways to manage your time with the most productivity (link)

Steve Jobs on the benefits of hiring top talent (link)

Let’s go through a list of business principles (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.

💰 Funding

Celestial AI raises $175M to commercialize photonic fabric (link)

Robovision raises $42M to accelerate AI-powered industrial automation (link)

💼 Job Board

Senior Account Manager at NVIDIA (US)

Sr Director, Machine Learning at Upwork (Remote)

💌 Etcetera

Why you can't remember being a baby

14 secret code words you might want to know

The connection between diet, exercise, and sleep

The biggest birds in the world (by maximum weight)

10 weirdest cameras we saw at the Photography Show

Glowing protein reveals how oxygen moves through brains

'Oldest tattoo' found on 5,000-year-old Egyptian mummies

Polar ice is melting and changing Earth’s rotation. It’s messing with time itself

Long before chickens were domesticated for food, they were regarded as exotica

Universal brain-computer interface lets people play games with just their thoughts

🗞️ News 

Visa and Mastercard $30 Billion Deal

Visa and Mastercard have reached a $30 billion settlement to lower credit and debit card fees for merchants, potentially leading to savings for consumers. This historic antitrust agreement aims to address long-standing accusations of inflated swipe fees, with reductions in rates and removal of anti-steering rules. The settlement, subject to court approval, could bring significant changes to the payment landscape.

Trump Media Stock Closes 21% Lower

Trump Media's stock closed 21.47% lower after revealing a net loss of $58.2 million in 2023, with minimal revenue. Despite the drop, the company's market capitalization remains around $6.6 billion, with Trump's shares now valued at about $3.8 billion. The company's financial challenges and Trump's involvement pose significant risks, impacting its future performance and shareholder value. Investors are closely monitoring the company's strategies to navigate these turbulent times and regain market confidence.

Sam Altman No Longer Controls Startup Fund

OpenAI has restructured its venture capital fund, removing Sam Altman from control to enhance transparency and accountability. The fund, backed by partners like Microsoft, focuses on early-stage AI-driven companies in healthcare, law, and education. Ian Hathaway now oversees the fund, which has seen increased commitments and holds $325 million in gross net asset value. Altman's past investments outside OpenAI have drawn scrutiny despite an independent investigation finding no wrongdoing.

That’s it for now!

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