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In Today’s Edition
Unique New Vesting Schedules
Tesla's Share of U.S. Electric Car Market Falls Below 50%
Honeywell has announced its acquisition of Air Products’ liquefied natural gas
Delta said the Paris Olympics will translate to a $100 million revenue
OpenAI announced a partnership with Los Alamos National Laboratory
Apple will permit banks, payment services, and app developers
Scientists Discover a New Hormone that Can Build Strong Bones
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🚀Startups Nuts
Companies traditionally use a 4-year vesting schedule where employees get 25% of their total equity grant every year for 4 years as long as they're with the company. More companies have started experimenting with unique vesting schedules to attract more talent while also saving money. This article highlights a few of these companies and their vesting schedules. Many of the grants typically net lower than they used to.
Other News
Headway, a New York-based behavioral therapist network, is raising $100m at a $2.3b valuation
Hero Software, a German SaaS for trade businesses and workers, raised €40m in Series B funding
Vantem Global, a Greensboro, N.C., maker of energy-efficient modular homes, is raising $30m in Series C funding
Exein, an Italian IoT cybersecurity startup, raised €15m in Series B funding
🏭Business Nuts
Tesla accounted for just under half of all battery-powered vehicles sold in the US in the second quarter of this year. The sales of battery-powered cars have surged to a new record, climbing 11.5 percent from a year earlier, with Tesla losing ground to General Motors, Ford Motor, Hyundai, and Kia. This is the first time Tesla's market share has fallen below 50 percent in a quarter. There are now over 100 electric vehicle models available in the US. Intense competition has led to lower prices, helping push adoption slowly higher.
Other News
Global brokerage firm Jefferies estimates that Reliance's telecom arm, Reliance Jio Infocomm, could be headed for a possible public listing in 2025 at a potential valuation of $112 Bn.
Honeywell has announced its acquisition of Air Products’ liquefied natural gas (LNG) process technology and equipment business for $1.81 billion in cash.
Costco is increasing its annual membership fees for the first time since 2017. US and Canada memberships will increase by $5 to $65, and Executive Memberships will jump $10 to $130.
WhatsApp Business is cutting rates for utility messages and bumping them for marketing in an effort to reduce spam. Parent company Meta cited 200m+ WhatsApp Business users in 2023.
The NBA has reportedly finalized media-rights deals with NBC, Amazon, and ESPN worth $6.9B per season through 2036. Commissioner Adam Silver probably deserves a raise — the league’s previous deal paid out $2.7B per season.
Delta said the Paris Olympics will translate to a $100 million revenue hit because travelers are heading to other destinations. European travel demand has been robust this summer, and Delta executives expect strong bookings to the region through the start of November.
HubSpot shares fell 12% on Wednesday after a report indicated that Alphabet is no longer interested in acquiring the software company.
📱Tech Nuts
OpenAI recently shared a five-level system for tracking its artificial general intelligence progress. The levels go from what is currently available to AI that can perform the same amount of work as an organization. They may change based on feedback from employees, investors, and the company's board. OpenAI executives believe the company's AI is currently on the first level, but it is getting close to level two, where AI can perform basic problem-solving
Other News
Neuralink hosted a livestream with new updates on its BCI, including potential telepathic and limb-controlling integrations with Tesla’s Optimus humanoid robots, new patient testing, and more.
OpenAI CTO Mira Murati revealed in an interview that the company’s Sora video generation model still has no public release date, with the tool still undergoing safety red teaming and testing for usefulness.
AMD is acquiring Silo AI, a Finnish startup specializing in end-to-end-AI solutions, for $665M — aiming to bolster its chip development and deployment to compete with rival Nvidia.
OpenAI announced a partnership with Los Alamos National Laboratory to evaluate the safe use of models like GPT-4o in bioscience lab settings and assess AI’s potential to enhance research while reducing risks.
Xiaomi has launched a new autonomous smart factory in Beijing that can produce 10 million handsets annually and self-correct production issues using AI technology.
Apple will permit banks, payment services, and app developers in the European Union to use the technology behind Apple Pay, settling an antitrust investigation.
🎁Miscellaneous
Researchers at UC San Francisco and UC Davis recently discovered that Maternal Brain Hormone (CCN3) increases bone density and strength in mice. The hormone's effects explain how women's bones remain relatively robust even as calcium is stripped from their bones to support milk production. Mice with increased CCN3 had dramatic increases in bone mass and strength over the course of weeks, regardless of age and sex. The hormone can be administered through a hydrogel patch applied directly to the site of a bone fracture.
💡What else are we reading and seeing?
U.S. startup funding is up, but number of deals is down
Lithium-ion batteries have a forever chemical problem
How to find opportunity in a crisis: Launching a spinoff business
The secret to a meaningful life
How New York became a millionaire-only city
Thermonuclear Blasts and New Species: Inside Elon Musk's Plan to Colonize Mars
Poker is a bad game for teaching epistemics. Figgie is a better one
😎Fun Fact
Did you know? Russia had planned an invasion of India in 1801 with just 20,000 soldiers, but later dropped the plan because their preparations were inadequate
🔥 Few tools many people are finding useful
VEED.IO is an AI-powered online video editor that makes it easy to create professional-quality videos
VirtuLook - An Al-driven image generator that leverages cutting-edge AI technology to empower users to produce fantastic product photos
Nara - an Al-powered digital sales associate that helps your online store sell more and keep clients happy on all chat channels
🐦Joke of the Day
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