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Technology

California's Renewed Push for AI Transparency: SB 53 Takes Center Stage

California State Senator Scott Wiener has introduced amendments to SB 53, aiming to mandate AI companies to publish safety protocols and reports on safety incidents. This bill is influenced by recommendations from California's AI policy group, emphasizing transparency.

Key points of SB 53 include:

  • Requiring AI companies to disclose safety and security protocols.
  • Creating whistleblower protections for employees who identify critical risks.
  • Establishing CalCompute, a public cloud computing cluster for AI development.

The bill seeks to balance transparency with fostering AI industry growth, addressing concerns raised about previous legislation like SB 1047. New York is also considering similar AI safety measures with the RAISE Act.

Finance

Revolut Eyes $65 Billion Valuation in New Funding Round

Revolut is reportedly seeking a new funding round that could value the company at $65 billion, according to the Financial Times. The UK-based fintech firm is in discussions to raise approximately $1 billion through the issuance of new shares and the sale of existing ones. Greenoaks, a US-based firm, is reportedly leading the round, although the deal is not yet finalized.

In 2024, Revolut experienced a 72% increase in revenue, reaching $1 billion in profit, and expanded its user base to over 50 million customers. The company also obtained its banking license to operate in the UK and now serves over 30 countries. Revolut's last valuation was $45 billion in 2024 after a secondary market sale.

Business & Finance

Yaccarino's Impact: Navigating X's Ad Landscape

Linda Yaccarino's two-year tenure at X saw a notable impact on the social network's advertising business. According to data from Guideline, U.S. ad spending on X was up 62% year-over-year in the first half of 2025. Yaccarino had previously stated that 96% of X's advertisers had returned as of May 2025.

However, X's advertising business faced significant challenges, including an advertiser boycott in November 2023 following Elon Musk's endorsement of an antisemitic post. This led to brands like Apple, Disney, and IBM pausing their ad spending on the platform. Musk's controversial statements and actions further complicated the situation, even resulting in legal action against advertising groups.

Despite these challenges, Guideline's data indicates increased U.S. ad spend since December 2024. Yaccarino also implemented measures to improve brand safety, such as partnering with adtech companies and offering advertisers tools to control ad placement sensitivity. Nonetheless, X remains a controversial platform regarding ad safety, highlighted by recent antisemitic outbursts from its AI bot, Grok.

Yaccarino's departure raises questions about X's future profitability, especially as the company's reliance on alternative revenue streams like X Premium subscriptions and the X Money payments service remains limited.

Technology

YouTube Tightens Monetization Rules to Combat AI-Generated 'Slop'

YouTube is updating its monetization policies on July 15 to combat the rise of AI-generated, low-quality content, often referred to as "AI slop." The updated policies aim to prevent creators from earning revenue from mass-produced and repetitive videos.

The changes are intended to clarify what constitutes "inauthentic" content and are designed to target spam-like videos created with AI technology. While YouTube insists this is a minor update, it reflects concerns over the proliferation of AI-generated content, including AI voiceovers, fake news videos, and even AI-generated documentaries.

The goal is to protect YouTube's reputation and value by preventing the monetization of content that viewers consider spam and ensuring clear policies are in place to address the growing problem of AI-generated content.

AI and Music Technology

Soundslice Develops New Feature Due to ChatGPT Hallucinations

Adrian Holovaty, founder of Soundslice, discovered ChatGPT was falsely promoting the app's ability to translate ASCII tablature into audible music. Users were uploading ChatGPT session screenshots expecting the app to generate audio. Despite the feature not existing, Holovaty decided to develop it to address the misinformation and potential reputational damage. He debated adding disclaimers versus building the feature and ultimately chose to build it, driven by the unexpected influence of ChatGPT's inaccuracies. He also noted the situation was similar to salespeople overpromising new features.

Sports Streaming

Apple Eyes Formula 1 Streaming Rights, Potentially Expanding Sports Portfolio

Apple is reportedly in talks to acquire the streaming rights for Formula 1, aiming to expand its investment in live sports. This move follows Apple's existing deals with Major League Baseball and Major League Soccer. ESPN's current contract for F1 is set to expire next year, and Apple will face competition from ESPN and other potential bidders.

This news coincides with the success of Apple's new F1 movie, produced by Lewis Hamilton, and the overall surge in popularity of F1. Netflix's "Drive to Survive" series played a significant role in introducing the sport to a broader audience, particularly in the U.S., leading to increased viewership of live F1 races, especially among young women.

Technology

Perplexity's Comet: A New AI-Powered Browser Aims to Challenge Google

Perplexity has launched Comet, its first AI-powered web browser, to compete with Google Search. Initially available to Perplexity Max subscribers and select invitees, Comet features Perplexity's AI search engine as the default, providing AI-generated summaries of search results.

Key features include Comet Assistant, an AI agent that automates tasks such as summarizing emails and managing tabs. While Comet Assistant shows promise for simple tasks and contextual assistance, it struggles with more complex requests and requires extensive user access to personal data.

Comet enters a competitive market with existing AI-powered browsers like The Browser Company's Dia and potential offerings from OpenAI. Perplexity aims to leverage its existing user base and the increasing popularity of its search products to gain traction in the browser market.

Artificial Intelligence

iMerit Focuses on Expert-Led, High-Quality Data for Enterprise AI Solutions

iMerit is shifting its focus to better-quality data, utilizing expert-led approaches for enterprise AI solutions. The company's Scholars program aims to build a workforce of experts to fine-tune AI models for enterprise applications.

iMerit differentiates itself by focusing on high-accuracy, human-in-the-loop labeling, and deep domain-specific oversight. The company emphasizes attracting and retaining cognitive experts to customize AI models towards solving enterprise problems.

iMerit's approach contrasts with high-throughput, developer-focused "blitz data" and aims to provide the level of quality that enterprises need. The company works with top AI firms to improve their foundation models, focusing on finance and medicine, highlighting that generative AI is its fastest-growing area.

Cybersecurity

Lock Down Your Number: Shielding Against SIM Swap Scams

In 2025, phone numbers are essential for online services, but they're vulnerable to SIM swapping attacks. Hackers exploit cell carrier security weaknesses, impersonating customers to transfer numbers. The primary sign of a SIM swap attack is loss of cell service for seemingly no reason.

To combat these attacks, major US carriers like AT&T, T-Mobile, and Verizon have introduced security features:

  • AT&T: Offers Wireless Account Lock to prevent SIM swaps.
  • T-Mobile: Allows customers to block unauthorized number port outs.
  • Verizon: Provides SIM Protection and Number Lock to prevent SIM swaps and phone number transfers.

Customers should check their carrier accounts to enable these security features, which are often not enabled by default.

Defense Tech Investment

Darkstar: VC Firm Breaks Defense Tech Taboo with Investments in Ukraine's Military Innovations

Estonian VC firm Darkstar is challenging the conventional dual-use requirement in defense tech investing by focusing on purely military applications emerging from Ukraine. Founded by Ragnar Sass, Darkstar aims to rearm Europe with combat-proven solutions.
Darkstar targets pre-seed and seed rounds with investments between €500k to €1 million, having already invested in FarSight Vision, which specializes in geospatial analytics, and Deftak, which develops ammunition for drones.
The firm takes a hands-on approach, assisting startups with access to military customers and setting up compliant entities in NATO countries. Sass, a veteran of the Estonian startup ecosystem, emphasizes the urgency of defense tech innovation in light of Russia's ongoing aggression, noting that elite Ukrainian units are highly innovative and adaptable.
Darkstar completed a first close of €15 million backed by European entrepreneurs and SmartCap. The firm plans to invest in autonomous systems, air defense, cybersecurity, and other critical areas, providing support through bootcamps and leveraging its deep connections within Ukraine's defense community.