Welcome back to Madconsole’s Week in Review — Madconsole’s newsletter recapping the week’s biggest news. Want it in your inbox every Saturday? Sign up here.
Apple’s Worldwide Developers Conference had a sizable focus on AI. Apple unveiled its generative AI offering, Apple Intelligence, which will be available in iOS later this year. iOS 18 will have a number of new features, including the ability to schedule text messages and customize your home screen, major upgrades to Siri — including ChatGPT integration — and AI-generated emojis. If you missed it, we put together a handy recap of everything Apple announced.
Tesla CEO Elon Musk has secured enough shareholder votes to have his 2018 stock option compensation package approved. The vote means he could get a payout of up to $56 billion, the biggest CEO compensation package in history, but a judge in Delaware still has to issue her final decision after ruling the package was unfair.
In funding news, Mistral AI has closed its much rumored Series B funding round. The company has secured €600 million (around $640 million at today’s exchange rate) in a mix of equity and debt. The new round values the startup at $6 billion as it continues to compete with OpenAI, Anthropic and other AI giants.
News
Former NSA head joins OpenAI: Former head of the NSA, retired army general Paul Nakasone, will join OpenAI’s board of directors and will sit on the board’s “security and safety” subcommittee. Read more
Tesla shareholders sue Elon Musk: Shareholders of Tesla are suing Elon Musk and members of the board of directors over Musk’s decision to start xAI. They argue that talent and resources are being diverted from Tesla to the new startup. Read more
BeReal gets bought: French mobile apps and games publisher Voodoo has acquired BeReal for €500 million. BeReal co-founder and CEO Alexis Barreyat will leave the company after a transition period. Read more
You can ditch the rings: Apple has finally made a way for users to pause activity rings on Apple Watches, which is especially helpful if you are sick or otherwise unable to do physical activities. Read more
Raspberry Pi goes public: The maker of tiny, cheap, single-board computers priced its IPO on the London Stock Exchange at £2.80 per share, valuing it at $690 million at today’s exchange rate, and quickly jumped to £3.70 per share. Read more
iPads finally get a calculator app: iPads will have a dedicated calculator app for the first time. But, teachers, beware. The app includes Math Notes, a new feature that does the math for you. Read more
A new distraction-free smartphone: Minimalist smartphone maker Light announced its newest model. The Light Phone III doesn’t have access to social media or the internet, but it does sport a larger OLED display and a camera. Read more
Spotify goes in-house: Spotify is venturing further into the ad space with its first in-house creative agency, Creative Lab. The company said it will also begin testing generative AI ads. Read more
Will your device have iOS 18?: Apple’s iOS 18 will be compatible with many Apple devices this fall, but you might have to upgrade if you want the full Apple Intelligence experience. Read more
Analysis
Apple Intelligence isn’t trying to be flashy: With iOS 18, Apple is taking a more cautious approach. Instead of overwhelming users with too many AI features to count, the company is carefully rolling out AI where it believes it could be actually useful. While Apple’s AI is certainly not as flashy, Sarah Perez argues that it is the company’s way of defining the table stakes for what an AI-powered device should be able to do. Read more
Tesla fans get out the vote: Tesla and its fans waged an unprecedented battle over Elon Musk’s $56 billion pay package. Over the last few months, there has been an unrelenting get-out-the-vote effort from Tesla’s biggest fans. Sean O’Kane explores the countless calls to action on X to get shareholders to vote yes — and reinforce their belief that Tesla is nothing without Musk. Read more
Why Y Combinator is encouraging small seed rounds: In 2024, many Y Combinator startups only want tiny seed rounds — but it could be repelling many institutional seed VCs. If YC startups treat these rounds more like pre-seed funding, it might not be all that bad. But as Rebecca Szkutak writes, there is a risk if companies are labeling these smaller rounds as “seed rounds” with their sights set on next raising a Series A. Read more
