Welcome back to your daily memorandum talking tech, business, AI, markets, and more. 🗞️

In today’s edition, we are tackling the following:

⚠️ Discord admits AI moderation bug wrongly banned users over harmless images.
💻 Hacktivists deface U.S. Army websites with anti-Trump, pro-Kurdish messages.
⚽ Netflix, Disney & YouTube eye FIFA World Cup rights worth $2B.
📱 Google's Pixel 11 event set for August 12, ahead of Apple.
🌍 U.S. strikes Iran & blocks oil sales in new truce test.

TECHNOLOGY

• Discord admits AI moderation bug wrongly banned users over harmless images (TechCrunch)
  ^{_{More: Engadget, The Verge, MEXC}}

  • A Discord AI moderation bug banned over 8k users since May after flagging harmless images as harmful.

  • Wrongly flagged content included spreadsheets, chessboards, and transparent backgrounds; affected accounts are being restored.

  • Discord said its system matches uploads against databases of harmful content, but a bug bypassed human review entirely.

• Hacktivists deface U.S. Army websites with anti-Trump & pro-Kurdish messages (Firstpost)
  ^{_{More: TechCrunch, Gadget Review}}

  • Hackers defaced two U.S. Army websites, forcing fixes after error pages displayed altered political messages.

  • The affected sites, the Open Innovation Lab and AI Integration Center, test and integrate emerging technologies.

  • Messages criticized Trump, referenced his alleged Epstein file links, and included slogans supporting a free Kurdistan.

• First American autonomous ground vehicles are now fighting on Ukraine's battlefields (TechCrunch)
  ^{_{More: TNW, Tech Buzz}}

  • Forterra revealed over 100 self-driving ATVs have operated in Ukraine's conflict zones for nine months.

  • The company calls it the largest combat deployment of autonomous ground vehicles by any U.S. defense firm.

  • Drone-saturated no-go zones have pushed Ukrainian strategists toward ground autonomy, with U.S. defense funding backing the effort.

BUSINESS

• Netflix, Disney & YouTube eye FIFA World Cup rights worth $2B (Economic Times)
  ^{_{More: CNBC, NBC}}

  • Netflix, Disney, and YouTube may challenge Fox for U.S. broadcast rights to the 2030 and 2034 tournaments.

  • Media executives are budgeting between $1.5B and $2B per tournament for the rights packages.

  • FIFA plans to bundle English- and Spanish-language rights, with talks expected within three months.

• Google's Pixel 11 event set for August 12, ahead of Apple (MacRumors)
  ^{_{More: CNET, PCMag, TechCrunch}}

  • Google will unveil the Pixel 11 lineup, including a new Pro Fold, at its August 12 event.

  • Leaks suggest slimmer designs, 256GB of storage starting, and a €100 price increase, driven by soaring DRAM costs.

  • The lineup will compete with Apple's iPhone 18 Pro models and first foldable iPhone, expected in September.

• Apple begins testing CXMT memory chips for devices sold in China (Financial Times)
  ^{_{More: CNBC, Investing.com}}

  • Apple is testing DRAM from state-backed ChangXin Memory Technologies while lobbying the U.S. for broader use.

  • CXMT is central to Beijing's push for a self-sufficient AI supply chain, planning a $4.3B Shanghai IPO.

  • The world's fourth-largest DRAM producer could reach a 15% market share by 2028 as new production lines come online.

MARKETS

WORLD

• U.S. strikes Iran & blocks oil sales in new truce test (Bloomberg)
  ^{_{More: AP, Financial Post, Business Times}}

  • U.S. forces struck over 80 Iranian sites, responding to attacks on commercial ships in the Strait of Hormuz.

  • Targets included air defenses, radar sites, anti-ship missiles, and over 60 Islamic Revolutionary Guard Corps boats.

  • The Treasury barred new Iranian oil sales after July 7, threatening the interim peace deal signed June 17.

• Chinese autonomous driving firm Momenta rises 3% in Hong Kong debut (CNBC)
  ^{_{More: Reuters, WSJ}}

  • Momenta shares rose 3% on their Hong Kong debut following a $751M initial public offering.

  • The Suzhou-based firm will spend 60% of proceeds enhancing core technology, including algorithms and its Mainline platform.

  • Another 20% will accelerate robotaxi commercialization, with the rest supporting mass-produced vehicle solutions and working capital.

• NATO leaders meet in Ankara after Trump rekindles Iran, Greenland disputes (Reuters)
  ^{_{More: Business Standard}}

  • European leaders aim to convince Trump to recommit to NATO at Wednesday's summit in Ankara.

  • Trump said his friendship with host Erdogan kept him from boycotting, without ruling out troop withdrawals.

  • NATO is sealing arms deals during the summit to showcase growing European defense spending commitments.

FUTURISM

• X adds video editor to push creators toward original content creation (The Verge)
  ^{_{More: Yahoo!, MSN, TechCrunch}}

  • X launched new video editing and recording features to encourage original content over recycled reposts.

  • Tools include multilingual caption overlays with customizable looks and green-screen features using camera roll photos.

  • Product head Nikita Bier said rewarding original creators is a priority, with more updates coming soon.

• Meta launches Muse Image AI generator, users push back over photo use (CNET)
  ^{_{More: CNBC, NY Times, TechCrunch}}

  • Meta unveiled Muse Image, a free AI generator from Meta Superintelligence Labs, available across its apps.

  • A controversial feature lets users manipulate public Instagram profiles' photos into AI images by simply tagging them.

  • Meta policy confirms others can use your content with AI, and you will not be notified.

• Savi's app protects consumers from realistic AI scams like fake kidnappings (TechCrunch)
  ^{_{More: MSN, Yahoo!}}

  • Brothers Patrick and Ryan Coughlin launched Savi Security to fight convincing AI-generated scams across texts, emails, and calls.

  • The startup raised $7M in seed funding led by Acrew Capital and launched its app Tuesday.

  • The idea came after scammers used AI to fake their sister's kidnapping, demanding $1.2k from their mother.

• Cut through the hype. Roko’s Basilisk distills the day’s AI breakthroughs, market moves, and workable workflows into a five-minute brief*

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CONTENT

• Jeremy Giffon discusses how power, status, capital, & attention are shifting (Invest Like The Best)

  • Giffon returns to Invest Like the Best to explore shifting power, status, capital, and attention in America.

  • Topics include the billion-dollar PDF, how narratives shape capital formation, and the timeline as market infrastructure.

  • He also covers AI's impact on white-collar jobs, East Coast versus West Coast finance, and Buffett.

• Guy Oseary on 36 years managing Madonna, 26 IPOs & more (Tim Ferriss)

  • Oseary managed Madonna, the Red Hot Chili Peppers, and U2, while Maverick Records sold over 100M albums.

  • He executive produced Twilight, which generated over $3.5B, and invested early in Airbnb, Uber, and Spotify.

  • Sound Ventures launched with under $100M and has since achieved 86 exits and 26 IPOs.

• Why Craig Newmark turned down an $11B buyout offer for Craigslist (Moneywise)

  • Newmark rejected a roughly $11B buyout in 1999, calling the offer 'bullshit' in hindsight.

  • He has given away $570M through his foundation, aiming to reach $1B before he dies.

  • He is training an LLM to continue his philanthropic decisions after his death, only half-joking.

EXTRAS

• Stellantis to sell small Fiat Topolino EV for $13,995 in U.S. (CNBC)
  ^{_{More: Reuters, Yahoo!}}

  • Stellantis opened U.S. ordering for the Fiat Topolino electric vehicle, with prices starting at $13,995.

  • The Topolino is a quadricycle that tops out at 19 mph and functions more like a golf cart.

  • Stellantis confirmed the U.S. move last year, days after Trump praised small Japanese 'Kei' cars.

• Norfolk Southern & Union Pacific defend proposed $85B rail merger (Reuters)
  ^{_{More: Yahoo!, AOL}}

  • The railroads told regulators they would divest stakes in smaller lines if the Surface Transportation Board directs.

  • The $85B merger would create the first U.S. coast-to-coast freight operator, expected to close in early 2027.

  • The carriers claim $3.5B in annual shipper savings, while critics fear higher rates and reduced competition.

• Egypt seething after blowing two-goal lead in 3-2 loss to Argentina (AP)
  ^{_{More: Reuters, Washington Post}}

  • Egypt squandered a late two-goal lead, falling 3-2 to defending champion Argentina in the round of 16.

  • Argentina's stoppage-time winner sparked chaos, with Egypt's goalkeeping coach red-carded after confronting the French referee.

  • Coach Hossam Hassan signaled racial abuse allegations, claiming the establishment wanted Messi's squad to advance.

AND MORE

• Claude Cowork expands beyond desktop to mobile and web platforms.

• Ex-HSBC chair Tucker emerges as kingmaker at major Hong Kong insurer.

• Hire vetted LATAM engineers in as little as five days, and save up to 70% on salary costs.*

• Figma acquires the team behind a popular vibe-coding app.

• Indonesia faces possible S&P Dow Jones downgrade to frontier market status.

• Microsoft joins AI cost-cutting trend by relying on its own models.

• Takaichi pushes sweeping reforms to make Japan Inc. competitive once again.