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Sam Bankman-Fried found guilty on all 7 counts of fraud

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Top stories today:

  1. SBF found guilty on all 7 counts of fraud
  2. Top AI companies agree to give govt's right to test models
  3. Apple's revenue -1% to $89.5B in Q3, led by decline in Mac
  4. Longevity VC at $550M in Q3, almost 2x Q2
  5. Israel encircles Gaza City, Hezbollah leader to speak

0. Data and calendar

All values as of 6 AM ET / 3 AM PT, other than S&P500 close (4 PM ET / 1 PM PT).

All times are ET.

1. Sam Bankman-Fried found guilty on all 7 counts of fraud

  • <5 hours necessary for jury to convict.

  • Feb. 1: government must inform the court on whether the 2nd SBF trial (scheduled to start in Mar.) will proceed.

  • Mar. 28, 2024: sentencing. After which, SBF can appeal. - Axios

SBF is expected to get a 20-30 year sentence, although it could go up to 105 years

2. Top AI companies agree to give global governments right to test AI models before release

  • Companies: OpenAI, Anthropic, Google, Google DeepMind, AWS, Inflection AI, Meta, Microsoft, and Mistral AI.

  • Governments: U.S., UK, Australia, Canada, the European Union, France, Germany, Italy, Japan, Korea, and Singapore.

  • Non-binding agreement. - POLITICO

*Sponsored.

4. Apple's revenue -1% to $89.5B in Q3, led by decline in Mac sales, stagnation in all regions

Services was +16% to $22.3B, making up for Mac's -34% to $7.6B:

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