Global sports industry is worth $417B. Betting alone accounts for $133B, the largest share.

Media rights bring $61B, with sponsorship and ads at $52B.

Most of the money in sports now sits around betting.

✔️@venture

📊 Nasdaq fast-tracks large IPOs into Nasdaq-100

Nasdaq introduced new rules to speed up inclusion of newly listed large-cap companies into the Nasdaq-100 index.

The change comes ahead of expected major IPOs like SpaceX, OpenAI, and Anthropic, with SpaceX signaling it wants immediate inclusion.

Faster entry means large new listings can attract index-linked capital sooner after going public.

✔️@venture

🏦 Bank of America to pay $72.5M in Epstein case settlement

Bank of America agreed to pay $72.5M to settle a lawsuit filed by women who said they were victims of Jeffrey Epstein’s trafficking operation. The deal was filed in federal court and awaits approval on April 2.

The lawsuit claimed the bank provided financial services to Epstein and his network while ignoring warning signs, including delayed reporting of suspicious activity. Bank of America denied wrongdoing but chose to settle.

The case covers victims between 2008 and 2019. Lawyers may take up to 30% of the fund, with the rest distributed among claimants.

The payment is small relative to the bank’s profits, but closes its exposure to Epstein-related litigation.

✔️@venture

🍏 Apple wants Siri to connect with any AI app in iOS 27

Apple plans to open Siri to third-party AI services from the App Store in iOS 27, according to Bloomberg. That means users could plug Siri into tools like ChatGPT, Gemini, or Claude, while Apple takes up to 30% from subscriptions sold through the platform.

After weak results with its own models, Apple seems to be shifting from building to distribution. Instead of spending heavily on data centers, it can use Siri as the interface layer and monetize demand across its existing device base.

The logic is simple: others build the models, Apple owns the user entry point. If that works at scale, Apple could end up making more from AI than many model companies without leading on the model side itself.

In AI, control of distribution may matter more than control of the model.

✔️@venture

🚨 Google raises quantum alarm

They state it has cut resources needed to break Bitcoin encryption by 20x, signaling major progress toward cracking crypto security.

Warns industry may have until ~2029 to prepare for the quantum threat.

✔️@venture

🇺🇸 Report links Pentagon official to defense ETF interest before Iran strike

A broker for U.S. Defense Secretary Pete Hegseth reportedly explored a multimillion-dollar investment into BlackRock’s defense-focused ETF shortly before the U.S.-Israeli strike on Iran, according to the Financial Times.

The inquiry was made in February through Morgan Stanley but the deal did not go through, as the fund was not yet available to those clients. It is unclear what role Hegseth had in the attempt.

The Pentagon denied the report, calling it false.
BlackRock declined to comment.

The case adds to broader scrutiny around well-timed trades ahead of major policy decisions.

✔️@venture

🚕 WeRide and Uber launch driverless robotaxi rides in Dubai

WeRide and Uber started fully driverless robotaxi operations with paid rides in Dubai, covering Jumeirah and Umm Suqeim.

Users can now book the service directly through the Uber app.

The rollout includes Level 4 vehicles with no driver onboard and is backed by Dubai’s transport authority.

The launch follows trials that began in late 2025, with expansion planned across industrial, suburban, and port areas.

Uber holds about 5.82% of WeRide, and both companies plan to deploy at least 1,200 robotaxis across the Middle East by 2030.

WeRide already operates over 200 in the region and reports profitability in its local robotaxi business.

✔️@venture

🚀 SpaceX files confidential IPO aiming for up to $75B raise

SpaceX has confidentially filed for an IPO, with plans to raise up to $75B. The company was recently valued at $1.25T after merging with xAI, with reports pointing to a potential $1.75T target at listing.

The company runs reusable rocket launches and operates Starlink with around 10,000 satellites. It has also secured over $24.4B in U.S. government contracts since 2008 and completed 165 orbital flights in 2025.

If completed, the IPO would be the largest in U.S. history, far exceeding Alibaba’s $22B record. Timing remains tied to market conditions, with volatility still elevated.

✔️@venture

⚠️ Oracle cuts up to 30,000 jobs in one day to fund AI push

Oracle laid off around 10,000 to 30,000 employees in a single day, about 18% of staff. Emails went out at 6am with no prior notice, marking the same day as the last working day. Some divisions saw cuts above 30%.

The company is shifting spending toward AI and cloud infrastructure. In 2025, rising costs created a major cash gap, pushing management to reallocate capital.

Analysts at TD Cowen estimate the layoffs could save $8–10B in free cash flow. Even if fully reinvested into AI infrastructure, payback is not expected before 2030.

✔️@venture

📉 OpenAI shares stall as $600M hits market with no buyers

Investors are struggling to sell around $600M worth of OpenAI shares on secondary markets. Deals that used to clear in days are now seeing no demand, according to Next Round Capital.

At the same time, marketplaces like Augment and Hiive report record demand for Anthropic shares. The gap between OpenAI’s $852B valuation and Anthropic’s $380B is pushing buyers toward Anthropic equity.

Banks including Morgan Stanley and Goldman Sachs have started offering OpenAI shares to clients without carry fees. Goldman still charges 15–20% carry on Anthropic deals.

✔️@venture

🚀 SpaceX targets $2T+ valuation ahead of IPO pitch

SpaceX is now aiming for a valuation above $2T as it prepares for its IPO. The company could raise up to $75B, marking the largest offering ever.

The jump follows its recent merger with xAI, which valued the combined entity at $1.25T.

Core revenue still comes from launches and Starlink, approaching $20B in 2026.

Funds from the IPO are expected to go into AI data centers in space and a future lunar factory.

✔️@venture

🤖 OpenAI buys TBPN, a daily AI talk show with 70K viewers

OpenAI has acquired TBPN, an online talk show that interviews AI and tech executives.

The show averages about 70,000 viewers per episode and generated over $5M in ad revenue, with projections above $30M in 2026.

TBPN runs long-form daily streams and features guests from companies like Meta, Microsoft, and Palantir.

The host says the show will stay the same while gaining more resources.

OpenAI is adding a media asset to support its communication and positioning.

✔️@venture

Tech companies announced 18,720 job cuts in March, up more than 24% from March 2023.

Tech layoffs so far this year include:

• Meta: 1,500 people
• ASML: 1,700 people
• Atlassian: 1,600 people
• Amazon: 16,000 people
• Salesforce: 1,500 people
• Epic Games: 1,000 people
• Block: 4,000-5,100 people
• WiseTech Global: 2,000 people
• Oracle: 20,000-30,000 people

✔️@venture

🤖 Anthropic buys Coefficient Bio for $400M

Anthropic acquired biotech startup Coefficient Bio for $400M in stock. The company was founded 8 months ago and has fewer than 10 employees.

Coefficient Bio builds AI models for biological research and drug development. The team will join Anthropic’s healthcare division.

✔️@venture

Comparison of OpenAI’s latest valuation with the combined market capitalizations of major companies.

✔️@venture

The moment we realised how ruthless businessman Mark Zuckerberg was.

✔️@venture

In 2010, Walmart was seen as the safe bet while Amazon was considered overpriced.

Since then, Amazon revenue went from $34B to $717B.

Walmart grew from $408B to $681B over the same period.

Growth stocks delivered far higher expansion despite initial skepticism.

✔️@venture