The Verge’s latest insights into the ideas shaping the future of work, finance, and innovation. Here you’ll find scoops, analysis, and reporting across some of the most influential companies in the world. Our coverage also includes interviews with innovators and policy makers at the frontiers of business and technology on Editor-in-Chief Nilay Patel’s Decoder; a behind-the-curtain look at Silicon Valley with Alex Heath’s Command Line; and exclusive reporting on Microsoft’s strategy in Tom Warren’s Notepad.
Jay Blahnik, the creator behind the three-ring fitness tracking feature on Apple Watches, is stepping down after a 13-year tenure at the company, following allegations that he sexually harassed an employee and fostered a “toxic work environment.” A lawsuit claiming Blahnik bullied an employee is set to go to trial next year.
[The New York Times]
Viral posts about insider trading don’t have to be true to be valuable.
OpenAI’s latest round of private investment has closed, with participation from Amazon, Nvidia, Softbank, and Microsoft, as well as $3 billion from individual investors, as it prepares for a potential IPO. This comes after it announced the end of its video generator Sora, and the announcement says it will focus on building a “unified superapp” with ChatGPT, Codex, browsing, and other agents all built in.
ChatGPT has 6x the monthly web visits and mobile sessions than the next largest AI app, while total AI time spent is 4x the next largest AI app and 4x all others combined. Search usage has nearly tripled in a year, and our ads pilot reached more than $100 million in ARR in under six weeks.
Econ writer Kyla Scanlon notes that a lot of society’s current obsessions — peptide stacks, prediction markets, the manosphere — have all the hallmarks of people coping with feeling out of control. “The reason we can’t solve our problems is not lack of tools or information — it’s that the dominant method (add, optimize, measure) is the wrong method for the problem (figure out what’s poisoning you.)”
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[Kyla’s Newsletter]
The Justice Department’s surprise Live Nation settlement raises big questions about the future of federal antitrust.
But it is expanding its modest American Manufacturing Program. TDK will make camera stabilization sensors, while Bosch will build chips for crash detection and activity tracking. Cirrus Logic and Qnity Electronics are also on board. The $400 million planned for these new partnerships won’t make a major dent in Apple’s reliance on China, though.
A former employee of an online sportsbook writes about their experience. It’s not gambling that has been legalized — “what has been legalized is extraction, and the new methods of extraction that are possible using the internet and mobile devices. ” Read the whole thing to find out what got them to quit.
[Defector]
Hey, remember that weird trade The Financial Times highlighted? The one about oil? Paul Krugman doesn’t like it — nor does he like the weird Venezuela trade or the one about death of Ayatollah Ali Khamenei. I’ve written here about how ill-prepared the CFTC is for insider trading cases. Krugman has a solution: call some of it treason and let the FBI — well, the post-Kash Patel FBI — sort it out.
[Paul Krugman]
According to Axios, discussing a potential energy deal between OpenAI and Helion Energy for “a guaranteed portion of Helion’s production, potentially scaling to 50 gigawatts by 2035 (assuming the company can develop a fusion process that generates more energy than it consumes).
Axios also reports Altman has stepped down as Helion’s board chair and recused himself from discussions.
Superhuman CEO Shishir Mehrotra says the intention of Grammarly’s expert review feature was not to impersonate real-life journalists. But he wouldn’t defend it.
If there’s one job people might actually be happy to see eliminated by AI, it’s the CEO. Especially if that CEO is Mark Zuckerberg (74 percent disapproval rate as of June 2025). Well, according to the Wall Street Journal, he might be training his AI agent replacement as we speak:
Zuckerberg, the chief executive of Meta Platforms, is building a CEO agent to help him do his job, according to a person familiar with the project. The agent, which is still in development, is currently helping Zuckerberg get information faster—for instance, by retrieving answers for him that he would typically have to go through layers of people to get, the person familiar with the project said.
A Nevada judge has issued a temporary restraining order, saying the company can’t operate without first getting a gaming license. This is an escalation of a turf war between the states and the CFTC over who regulates prediction markets.
And the headline of the essay in which this happens asks if he should be burned at the stake. Father Paolo Benanti, the Papal AI advisor, doesn’t seem too pleased about Thiel’s Antichrist lectures, which Thiel has brazenly brought to Rome. “La Silicon Valley s’était lancée dans un coup d’État permanent.” I don’t think you need to know French to get the gist of that. one, but linked below is a summary of the essay. Make auto-da-fe great again??
[Universal Life Church Monastery]
To take on Netflix and YouTube, Paramount has to break the Warner Bros. curse.
Ellis says he was offered money to use a prediction market’s odds to write “a couple of stories each week,” and it was enough money that it was hard to turn down.“Taking money from a Polymarket to hype their gambling odds on a TV show is ethically the same as taking money from a network to write positive things about their programming.,” he wrote.
The CFTC insists it’s the sole authority on prediction markets — but can the agency police insider trading?
According to the Arizona attorney general, Kalshi is illegally operating a gambling business. It’s the first criminal case against the prediction market, which told Reuters that “States like Arizona want to individually regulate a nationwide financial exchange, and are trying every trick in the book to do it.” The case is part of an ongoing dispute between states and the CFTC about who has jurisdiction over Kalshi and similar companies.
How Yahoo escaped its Verizon death spiral and became profitable again.
Narayen told investors today that AI-first products “should be our next billion-dollar business,” and that he will leave the role he’s held since 2007 once the board names a successor. He’s overseen its Creative Cloud rollout, big bets on the future of AI, and its abandoned $20 billion attempt to acquire Figma.
Narayen:
The next era of creativity is being written right now — shaped by AI, by new workflows and by entirely new forms of expression. Adobe has never waited for the future to arrive. We’ve anticipated it. We’ve built it. And we’ve led it.
Fortune has a report on how Epstein got into Gates’ inner circle, and then leveraged a bridge player rumored to be Gates’ ex-girlfriend against him: “The richest man in the world is so cheap, his former bridge girl and toy, lives on a friends sofa,” Epstein wrote. Epstein wanted Gates to manage a “donor-advised fund” to reduce his taxes.
We just published our new Decoder interview with Chris Cocks, the head of Hasbro. I asked him directly about how he thinks about author J.K. Rowling’s politics and what it’s done to the Harry Potter fandom, following Hasbro’s major Harry Potter merchandising agreement announced just last month. Here’s what Chris had to say.
The Financial Times reports Palmer Luckey’s ModRetro is in talks to raise funds at a $1 billion valuation, which sounds like a lot for a retro gaming company.
The report also claims that Anduril, his other business selling drones and autonomous weapons to the military, happens to be at the same time in talks with investors for a new funding round valuing it at $60 billion. Interesting.
Fresh off another round of controversial bets, accusations of insider trading, and general profiting off human suffering, the two biggest prediction markets are seeking fresh funds. According to the Wall Street Journal, both companies are trying to lure investors at a valuation of $20 billion, nearly twice last year’s.
[The Wall Street Journal]
In 2017, while Reid Hoffman was publicly expressing outrage at pervasive sexual harassment in Silicon Valley, he was privately emailing the sex criminal. In 2018, they discussed Coinbase investments. There sure are a lot of these guys, huh? Wonder why.
“I am hesitant to foist being public on SpaceX, especially given the long term nature of our mission.”
The outlet will provide Kalshi with elections-related data — namely, vote counts and race calls — that will be available on the predictions market platform. The AP licenses its elections data to many sources (including other news outlets). What’s notable is that Kalshi and other predictions markets are increasingly blurring the line between actual news and a thing a guy online decided to put money on.
I suspect a bunch of Kalshi users are about to learn about the percentage of votes counted the hard way.
