Gm. Ah, the 4th of July. One of my favorite holidays, and why wouldn’t it be? The barbecue. The drinks. The beach. The boats. The long weekend. There’s really nothing not to like.

So go fire up some patriotic music and have yourself a day.

— Stephen Flanders

After more than two years of work, the EU made history in June by ratifying the AI Act, the world’s first comprehensive AI regulation.

It was a momentous feat for the lawmakers who drafted and politicked over the bill, and the voting process went remarkably smoothly. Basically everyone was in agreement: this law is a good thing.

Everyone except for the European companies actually building AI, that is.

Now, these tech giants are letting their frustrations be known in (yet another) open letter.

Basically, they are concerned that it is so difficult to comply with the AI Act that AI entrepreneurs just won’t even try to. This is obviously bad because AI is looking like the defining technology of our lives. Not exactly something you want to lose out on.

As they put it, “the draft legislation would jeopardize Europe’s competitiveness and technological sovereignty without effectively tackling the challenges we are and will be facing”.

In other words: this bill sucks.

With Chinese technology increasingly being declared a persona non grata, this feels like the moment for Europe to “rejoin the technological avant-garde”.

And they are making good progress. Some of America’s most innovative tech companies are now paying close attention to the old world.

European techies are ready to restore the continent to glory. They just need the regulators to let them.

The Big Picture: As the old saying goes: America innovates, China imitates, and Europe regulates.

If you’re anything like me then you spend every waking hour on Twitter during NBA free agency. It’s literally the greatest show on Earth, and we get to see it all play out live on the Bird app.

Unfortunately, on Saturday, many of us were hit with an error message we’d never seen before.

“Rate limited exceeded”.

What in Lebron’s name is going on here?

Thankfully, Elon was there to explain:

As you can probably guess, people were NOT happy. Sure, it’s only a temporary thing and it’s better than the site going down completely due to a data scraping overload, but still, we need to satisfy our scrolling addictions!

Well, as is usually the case with Elon and Twitter, there’s a twist. It turns out that the excessive traffic Elon is worried about might be coming (at least in part) from Twitter itself.

Apparently, there’s a bug in Twitter’s web app that causes Twitter to send requests to itself in an infinite loop.

In English: Twitter is DDoSing itself.

You can’t make this stuff up.

The Bottom Line: Love him or hate him, there’s no denying that Elon’s Twitter saga is ridiculously entertaining.

What else is going on?

Stat: $3T: Apple has officially become the first member of the $3T club. Who do you think is joining next?

Rabbit hole: Why Reddit As We Know It Is Doomed (Maya.land)

🐍

A new trial obesity drug just set the record for effectiveness. How many pounds did the average participant lose?

The best resources we came across this weekend that will help you become a better founder, builder, or investor.

👨‍💻 GPT-Migrate allows you to easily migrate your codebase from one framework or language to another.

📄 ChatCSV lets you ask your CSV docs questions like they were your friends.

🔥 Paul Graham is back with another gem, this time with a playbook to doing great work.

Just keep pushing 🙏

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