Brought to you by:

Hey, welcome to today's Bay Area Times daily newsletter. If you haven't yet already, follow us on Twitter.

We're now up to 125K subscribers — thank you! Click here if you’re interested in advertising to our audience. We’re sold out a month in advance, so please get in touch as soon as possible.

Top stories today:
1. Nuclear fusion produces net energy gain for 2nd time in history
2. OpenAI details how to disallow ChatGPT from crawling websites
3. Elon to fund legal bills of those mistreated by employers due to Twitter
4. Zuckerberg “ready today” for fight, Elon “may require surgery”
5. Apple's operating profit share is 85% of global smartphone market in Q2
6. S&P500 earnings on pace to -5.2% YoY in Q2, revenue +0.6%
7. CPI and core CPI are expected at 3.3% and 4.7% YoY, on Thu

0. Data and calendar

1. Nuclear fusion produces net energy gain for 2nd time in history

• July 30 experiment replicated the original December 2022 findings.

  • 2.05 MJ lasers produced 3.5+ MJ in energy output, more than the 3.15 MJ in the December experiment.

  • In a CA federally-funded research center, the Lawrence Livermore National Laboratory.

• Decades away: expected commercialization of this technology at scale. - Reuters, FT

2. OpenAI details how to disallow ChatGPT from crawling websites

Our view: this is a nice step, but of course, this comes after they've already crawled the entire internet

• This could help OpenAI's legal defense against the many lawsuits from content producers who allege OpenAI violated their copyright.

• Likely only be effective for future versions of ChatGPT, as many cynical users have been quick to point out. - Hacker News

3. Sidebar is a private community for exceptional leaders with bold goals*

• Once accepted, Sidebar gives you a Personal Board of Directors, matching you with a small group of brilliant peers.

• Users can message their group 24/7 and attend fast-paced meetings to solve their biggest challenges at work, faster.

• Employer reimbursements possible: many Sidebar members get their membership fees covered by their employer.

Why spend a decade finding your people – join Sidebar today. Sign up for the growing waitlist of over 2,500 top senior leaders, and apply to become a founding member. - Sidebar

*Sponsored.

4. Elon promises to fund legal bills of those mistreated by employers due to Twitter activity

“No limit,” he says:

He said they would be “extremely loud” and go after Boards of Directors too

Read more: Reuters.

5. Zuckerberg “ready today” for fight, as Elon “may require surgery before the fight”

• Elon benefits from any delays, as it gives him more time to train.

  • 2022: when Zuckerberg started training MMA and Brazilian Jiu-Jitsu.

  • Elon says he weighs 300 lbs, which would be almost 2x Zuckerberg's reported 155 lbs. This weight differential means Elon would have a large advantage, given the same fighting skills.- Twitter

Zuck has stepped up on his sarcasm, suggesting Twitter is an unreliable platform

6. Apple's operating profit share is 85% of global smartphone market in Q2, vs. Samsung at 12%

7. S&P500 earnings on pace to -5.2% YoY in Q2, revenue +0.6%

Energy is the worst sector earnings-wise, led by lower commodity prices

8. This Thu, CPI and core CPI are expected to be little changed, at 3.3% and 4.7% YoY, respectively

9. China's share of total U.S. imports down to 16%, from 23%; steady for most countries

10. NFT royalties are -98% from their peak in 2022

• $4M in NFT royalties in July 2023, from $267M in January 2022. - Bloomberg

11. Chart: how much stocks fall after Hindenburg Research publishes their short reports

12. Fully remote new hires 18% less productive than office employees

• Data-entry workers in India were the focus of the study.

• Day 1 already shows 2/3 of productivity drop, remainder 1/3 due to quicker learning by office workers over time.

• Negative selection effects: “workers who prefer home work are substantially less productive at home than at the office (27% less compared to 13% less for workers who prefer the office).” - Insider, paper

13. Number of petroleum engineering students plummets since 2010s despite high oil prices

14. Interesting tweets, memes, and videos

15. Other headlines

Tech

• Keystroke sounds allow AI to steal data with 95% accuracy.

• Milky Way galaxy could have trillions of free-floating planets.

• iPhone 15 to be announced Sep. 12 or 13.

• Low-quality, AI-written travel guidebooks arrive to Amazon.

• Indiana: a look at the state receiving key funding from CHIPS Act.

• Apple removes top anti-Putin podcast (Meduza) from Podcasts app.

Biotech

• FDA approves 1st oral treatment for postpartum depression.

Business

• Berkshire Hathaway's operating profit +7% to $10.0B, cash at $147B.

• Saudi Aramco net profit $30.0B in Q2, -40% YoY.

• Saudi wealth fund takes $16B loss from Softbank, tech ventures.

• Barbie crosses $1B box office, Oppenheimer at $500M.

• U.S. women's soccer team eliminated by Sweden in World Cup.

• Yellow, trucker giant, files for bankruptcy, listing assets of $1B-$10B.

Crypto

• Huobi sees outflows, with rumors of insolvency.

U.S. politics

• Trump odds: 70% GOP nominee, 67% convicted, 29% President.

• Trump calls for judge recusal, “no way he can get a fair trial.”

• Prosecutor Jack Smith has a history of tough trials, losses.

• Technical violation of Constitution would not violate criminal law: attorney.

• Mike Pence does not rule out being witness against Trump.

• Judge Chutkan denies Trump team's request to extend deadline.

• U.S. voters split 38-38 on what concerns them about indictment.

• Mark Meadows thought to have flipped, not mentioned in indictment.

World

• China, Russia military vessels near Alaska met by U.S. Navy.

• China coast guard fires water cannon on Philippine boats.

• Ukraine peace plan talks in Saudi Arabia ends with little progress.

• Crimea: Ukraine strikes 2 bridges.

• Taliban prepares suicide bombs in water dispute with Iran.

• China floods kill 40+, state media emphasizes absent Xi.

• Pakistan train derailment kills 30+.

• Netanyahu seeks to deepen Saudi ties even with no normalization.

Was this newsletter forwarded to you? Sign up here. Liked it? Forward it to friends and get rewards (see below).

Advertise on the Bay Area Times

Disclaimer: The Bay Area Times is a news publisher. All statements and expressions herein are the sole opinions of the authors or paid advertisers. The information, tools, and material presented are provided for informational purposes only, are not financial advice, and are not to be used or considered as an offer to buy or sell securities; and the publisher does not guarantee their accuracy or reliability. You should do your own research and consult an independent financial adviser before making any investments. Neither the publisher nor any of its affiliates accepts any liability whatsoever for any direct or consequential loss howsoever arising, directly or indirectly, from any use of the information contained herein. Assets mentioned may be owned by members of the Bay Area Times team.

Please read our Terms of Service and our Privacy Policy before using Our Service.