GM! It’s Brett again. Ever wondered how different cities shape your personality?

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🏠 Market

It’s all RED!

Looks like the bears came home and crashed the party. The markets took a nosedive, with the S&P 500 and Dow both dropping nearly 4% and Nasdaq around 5%.

Payroll growth is slowing, and unemployment ticked up. Suddenly, everyone's whispering the R-word – recession.

The chip sector got absolutely hammered. Intel went down 26% on Friday alone after dropping some seriously disappointing numbers.

Here's a real head-scratcher: Warren Buffett dumped nearly half of Berkshire's Apple stock. When a value investing legend starts selling tech, you know something's up.

Buffett is now sitting on nearly $277B in cash.

It's not just a US thing either. Japan's Nikkei 225 had its worst day since 1987, crashing 12% on Monday.

Even crypto couldn't escape the carnage. Bitcoin, which was flying high at $65K, is now close to $50K.

Oil prices are slipping too, as everyone's freaking out about economic growth. And now there's chatter that the Fed might slash rates to save the day.

Look, I'm not saying it's time to panic. But if you've been riding the tech bull market, it might be time to tighten those seatbelts.

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🤝 THE LATEST IN…

TECH

• Turns out Bumble and Hinge were letting stalkers track users.

• Canva acquires Leonardo.ai.

• Intel’s extending warranties for its glitchy chips.

• NVIDIA’s accelerating development of humanoid robotics.

AI

• Meta is paying Hollywood celebs millions to lend their voices to AI projects.

• Google swooped in and hired Character.AI’s founders.

• OpenAI's letting the US AI Safety Institute test its next AI model early.

• Gemini 1.5 Pro experimental (0801) is currently ranked #1 on LMSYS.

SCIENCE

• This brain implant is using ChatGPT.

• Scientists pulled off remote mind control on mice with a magnetic field.

• A 500-million-year-old spiny slug that’s giving us a peek at the earliest mollusks.

• Gen X and millennials are facing a rising risk of 17 cancers.

CRYPTO

• BitClout’s founder just got hit with fraud charges.

• Bitcoin close to $50K.

• Xapo Bank’s hitting the UK with interest-bearing bitcoin accounts.

• HashKey's OTC trading unit scored a major payment license in Singapore.

🏃‍♀️ QUICKIES

Raise: EvolutionaryScale, an A.I. biotech startup founded by former Meta researchers, raised $142M in seed funding to advance its protein-engineering tool, which simulates up to 500 million years of natural evolution.

Stat: 45%. That's how much Tesla's Q2 net income fell, despite a slight increase in revenue.

Rabbit Hole: Early Work (Paul Graham)

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