Good morning, Quartz readers!
Here’s what you need to know
Xi Jinping has a request for CEOs: Don’t give up on China. Twenty (male) U.S. executives just met with the leader, who asked for their investments and tried to assuage any of their worries.
Sam Bankman-Fried is being sentenced today. The convicted former chief of the failed cryptocurrency exchange FTX could face 50 years behind bars.
UBS is cutting costs with an $8 billion asset sale to Apollo. The Swiss bank will come away with a nice windfall from the deal, but its newer subsidiary Credit Suisse sure won’t.
The Securities and Exchange Commission can sue Coinbase for offering unregistered securities. A New York district judge made the ruling yesterday in a big win for the government agency.
Big Tech’s shifting demands are complicating its workforce
The tech industry may be leading the U.S. in layoffs this year, but it’s still dealing with a worker shortage.
Wait, what? Big tech is a layoff leader and can’t find enough workers?
The reason is AI. Artificial intelligence talent (that is, the people who know about it and work with it) is so in demand now (and difficult to find) that tech companies are slapping $1 million salary offers on jobs. And if that’s not enough to lure recruits, they’re taking another approach: poaching.
Samsung and Apple are duking it out over AI smartphones
Samsung’s free-for-now AI smartphone features are getting an update today, and that’ll put the South Korean electronics giant ahead of Apple in at least one instance: the race to bring generative AI to cell phones.
Google was the first to roll out a smartphone (Pixel) with AI tools in December, but Apple has yet to join the club. That doesn’t mean it’s not hard at work figuring out how to. Quartz’s Laura Bratton explains.
The MrBeast-backed AirCar is flying off to China
Just like with electric vehicles, Chinese manufacturers are trying to get ahead of the curve when it comes to flying car technology.
Such is the case for the AirCar, a device straight out of The Jetsons that starts on tires but in two minutes and 15 seconds can become an aircraft. AirCar’s Slovakian parent company handed over the Chinese rights to its device to a flying car company in China.
What’s more, MrBeast gave AirCar a stamp of approval — though the YouTube star never actually flew in it (he’s scared of heights, we get it!).
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A cholesterol supplement in Japan is being recalled after it was linked to deaths and hospitalizations. An ingredient, beni koji, may be contributing to kidney disease.
People with prosopometamorphopsia can sometimes see demons instead of faces. AH!
Moderna is getting close to making a norovirus vaccine. That could make cruises much more fun.
There’s a smart ring that accounts for bloating during that time of the month. What can’t smart rings do? Listen to Smart rings: Digital digits, the latest episode of the Quartz Obsession podcast, to find out.
🎧 Listen now on Spotify | Apple | Google | Pandora
👓 Read the full transcript here.
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Our best wishes for a productive day. Send any news, comments, boat resumes, and tickets to on land excursions to [email protected]. Today’s Daily Brief was brought to you by Susan Howson and Morgan Haefner.
Barbara Terrio is a seasoned business journalist, delving into the world of finance, startups, and entrepreneurship. With a knack for demystifying complex economic trends, she helps readers navigate the business landscape. Outside of her reporting, Barbara is an advocate for financial literacy and enjoys mentoring aspiring entrepreneurs.
