Good Evening!
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Here are the 7 things you missed today:
1. ✨ OpenAI Released GPT-5.5 Instant
ChatGPT has a new default model. OpenAI just released a new foundational model called GPT-5.5 Instant, which will replace GPT-5.3 Instant as the default ChatGPT model. The model apparently reduces hallucination in sensitive areas such as law, medicine, and finance, while maintaining the low latency of its predecessor. (TechCrunch)
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3. 🪙 Coinbase is Laying Off 14% of its Staff
Crypto exchange Coinbase is laying off about 700 employees, or 14% of its staff, as part of a broader restructuring to address market volatility and increase the use of AI tools to improve efficiency. The restructuring flattens the company’s organizational structures to just five layers below the CEO & COO levels with leaders potentially having more than 15 direct reports. (TechCrunch)
4. 🧠 If you make $400K+
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5. 🔥 a16z is Closing a $2.2Bn Crypto Fund
Andreessen Horowitz (a16z) just closed a $2.2 billion crypto fund called Crypto Fund 5, its fifth dedicated to digital assets, as most of the VC industry redirects capital toward AI. With the addition of this new fund, a16z has now amassed $9.8 billion in crypto capital. (Quartz)
6. 🧶 Etsy Launched an App in ChatGPT
Small craft businesses are getting a boost from AI. Craft marketplace Etsy just launched a native app within ChatGPT, opening up a new way for shoppers to explore its catalog of over 100 million listings. The new experience surfaces product recommendations based on natural language prompts, rather than traditional keyword queries. (TechCrunch)
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7. 📈 Micron Surpassed $700Bn Market Cap for the First Time
Memory maker Micron is making good memories. So much so that its stock is up 124% this year (nearly 700% in the past 12 months), pushing the company’s market cap past $700 billion for the first time and pushing it into the top 10 most valuable U.S. tech companies. (CNBC)
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Mode Mobile recently received their ticker reservation with Nasdaq ($MODE), indicating an intent to IPO in the next 24 months. An intent to IPO is no guarantee that an actual IPO will occur.
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