Issue #83

Robots target delivery profits, Wall Street wobbles over AI, Harvard dropouts launch spy glasses, and more. 

News from 21 August - 28 August 2025

Wall Street Spooked Over AI

Wall Street suffered its worst tech selloff in months. The Nasdaq tumbled 3% over five days while the S&P 500 sank for the fourth day in a row, declining by 1.5%, wiping out $1 trillion in market value. 

Nvidia plunged from $182 to $169 per share, while Microsoft dropped from $525 to $505. The damage spread to Apple, Amazon, and Alphabet. Even OpenAI CEO Sam Altman admitted investors are "overexcited about AI”.

Some consider this the first sign of an AI bubble bursting, as it comes after a bombshell MIT study revealed that 95% of enterprise AI rollouts are failing. However, others think investors might simply be cashing in on their summer gains. Anonymous trader at multi-billion dollar tech fund: “The story is spooking people.”

‍Source

People Ditch Jogging for Combat Sports

The solitary morning jog in Britain has been replaced by high-octane fitness competitions that combine intense cardiovascular exercises with strength training. 

Participation in Hyrox, an 8km run broken up by functional workout stations, exploded from 175,000 athletes globally in 2023 to over 650,000 today. UK growth has been even more dramatic: just 7,400 participants in 2021-2022 compared to 97,000 last season, with every event sold out across London, Manchester, Birmingham, Glasgow and Cardiff. 

Experts say the rise in participation is being driven by young people seeking a sense of community.Senior vice-president of global operations at Spartan Matthew Brooke: "It's become a binding force–people are seeking a community where being uncomfortable together is empowering. Not quite a cult, but it has that power."

Source

Harvard Dropouts Launch Spy Glasses

Two former Harvard students raised $1 million to create "always-on" AI glasses that secretly record every conversation and display relevant information in real-time. The $249 Halo X glasses promise to make wearers "super intelligent" by giving them "infinite memory" of all interactions.

Unlike Meta's Ray-Ban glasses, which have indicator lights when recording, Halo's founders deliberately made their devices covert. Privacy advocates warn the glasses normalise covert surveillance in public spaces, potentially violating two-party consent laws in twelve US states. The startup claims users must obtain consent themselves while promising end-to-end encryption, without providing evidence of how this would work.

This comes after the duo created facial-recognition software last year that could dox strangers within seconds. Caine Ardayfio: "The AI listens to every conversation you have and uses that knowledge to tell you what to say… kinda like IRL Cluely."

Source

Bulletin Board

• Radiohead Charts After 28 Years. The British band's 1997 song "Let Down" entered the US Billboard Hot 100 at number 91 after going viral on TikTok, marking only their fourth chart entry since "Creep" peaked at number 34 in 1993. Since the track from OK Computer was used in the Disney+ show The Bear, it soared in popularity on the social media platform, with the most popular video showing AI-generated couples from famous films taking selfies with their imaginary children. Source
• CEO Fires 80% of Staff Over AI. IgniteTech's CEO Eric Vaughan culled hundreds of employees who resisted his "AI Mondays" initiative, replacing them with automation enthusiasts after facing what he called "mass resistance, even sabotage." After the move, IgniteTech saw increased profits during one of the toughest job markets in recent memory. Eric Vaughan: "In those early days, we did get resistance, we got flat-out, 'Yeah, I'm not going to do this' resistance. And so we said goodbye to those people." Source
• Trump Hits India With 50% Tariffs. The US president doubled duties on Indian imports after India refused to stop buying Russian oil. In response, textile manufacturers in Tirupur, Delhi, and Surat halted production. India's BSE Sensex dropped 849 points ahead of the tariffs. Prime Minister Modi urged Indians to "buy local". Donald Trump: "I don't care what India does with Russia. They can take their dead economies down together, for all I care." Source
• Robots Target Delivery Profits. Robomart unveiled its RM5 autonomous delivery robot, promising $3 flat-rate deliveries to undercut Uber Eats and DoorDash by eliminating multiple fees and tips. The Los Angeles startup's level-four autonomous vehicle carries 500 pounds across 10 lockers, enabling batch deliveries that CEO Ali Ahmed claims reduce costs by 70% compared to $18-per-hour human drivers. With less than $5 million raised from Hustle Fund and others, Robomart plans to launch its "autonomous marketplace" in Austin later this year. Source
• £65 Million Spent on EU Export Licenses. According to a government report, UK companies spent up to £65 million last year on export licences to the EU. Ministers issued 328,727 licences at £113-£200 each, with smaller businesses particularly burdened. Cabinet Office minister Nick Thomas-Symonds wpledged to end these costs as part of a new EU agreement he hopes will be agreed in the next 18 months. The UK government report: “This has created a competitive disadvantage between smaller firms and larger operators with in-house capability.” Source

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