👋 Good morning, and happy 75th birthday to Richard Branson, who you could say has a lot going for him — a multibillion-dollar business empire, a 36-year marriage, a private island, knighthood, truly the works. Best yet, he told The Times he only checks his emails once a day. Now that’s a man living the dream — something he’s also doing early and often as he says he’s usually in bed by 9:30pm at the latest.
🎧 On the pod: Why AI-focused companies are simultaneously laying off workers and throwing billions at acquisitions.
NEWS FLASH
🚘 Uber’s going big on robotaxis: It announced a $300m investment in EV maker Lucid. The deal will see the rideshare platform put 20k+ robotaxis — built by Lucid and using self-driving tech from autonomous vehicle startup Nuro — on US roads over the next six years. They plan to launch in a major city sometime within the next year. Lucid’s stock jumped 30%+ on Thursday following the news, while Uber's stock was, like a decent many of its drivers' affects, flat.
🔥 Is South Korea a new startup mecca? Korean cuisine, music, and film are all hot around the globe (as well they should be), but the nation’s spiciest numbers may be in its startup scene, where the number of fast-growing companies has shot up more than 10x over the last 10 years. South Korea is now home to 2,127 scaleups (startups hitting a set of rapid growth metrics), perCrunchbase News. Korean companies have also outraised companies from regional powerhouse Japan by $30B this year. And that was all before Korea played its biggest diplomatic chip yet: Netflix’s chart-topping "KPop Demon Hunters."
🎨 A $14.5m Jackson Pollock purchase goes splat: Leading auction house Phillips sued David Mimran, son of French billionaire Jean-Claude Mimran, claiming that he failed to pay up after agreeing to pay $14.5m for a Pollock painting. Juicy. Mimran toldArtnet he’ll still buy it, just "a little late," but Phillips wants its cash now dammit, plus another ~$500k covering interest and legal fees. If they wind up needing another taker, we've got a $20 bill and a whole lot of wall space over here.
MORE NEWS TO KNOW
Meta sank $14.3B into Scale AI just last month while hiring away rising star CEO Alexandr Wang. That didn’t work out so good for the rank-and-file: the company announced layoffs spanning 14% of the workforce.
Apple News Plus debuted “Emoji Game,” a new puzzle to compete with the likes of, well, everyone that’s gotten in on the daily games trend since Wordle’s success — LinkedIn, The Atlantic, etc. The game is currently free to play for US and Canadian users.
Via, valued at $3.5B, has filed for an IPO. The startup launched in 2012 to offer on-demand shuttle service, using a routing algorithm that used real-time data to direct its vehicles, per TechCrunch. Now, it provides transit software to 650+ cities across 30 countries.
SPREADSHEETS MADE SIMPLE
Stop fighting spreadsheets — make them work for you instead
Some bad news: The average business professional spends 30% of their workweek (12+ hours) wrestling with spreadsheets.
Some good news: In our testing, tasks that originally took an experienced Excel user 45 minutes were completed in under 10 minutes using this guide on AI for spreadsheets.
The story of sake, AKA Japanese rice wine, began some 2k+ years ago — but the story of American sake is only just beginning.
America’s appetite for the craft spirit is growing, and with it is an emerging collection of home-grown breweries, perBloomberg.
In 2024, the US became the biggest export market for Japanese sake by volume.
Since 2015, the number of US breweries has increased from five to ~24, per the Sake Brewers Association of North America.
But the budding domestic market, already worth $1B+, would not have been possible if not for one rice farmer in Arkansas.
Planting the seeds of an industry
In 1988, Chris Isbell, a fourth-generation farmer, made a successful foray into Japanese varietals with sushi rice. One of the first to do it, Isbell Farms became a major supplier in the US and minorly famous in Japan, drawing international tourists to rural Arkansas.
Before that, his family had grown table rice for decades.
In 2004, Takara Sake USA contacted Isbell looking for a domestic supplier of Yamada Nishiki, the “king” of sake rice varietals. There were none, but Isbell had experimented with it, and set aside 5 acres.
By the late 2010s, American craft spirits were popularizing and sake was folding into the mix. Increasingly approached by upstart breweries, Isbell decided to double down on the coveted strain, dedicating more acreage to it.
Yamada is difficult to grow and labor-intensive to harvest — Isbell told Bloomberg his crew can harvest ~10-20 acres a day, versus 120-180 acres of table rice — but it’s more profitable.
The future of American sake
Isbell’s bet has paid off — for US breweries, consumers, and his family farm. Today, it is the leading US producer of sake rice, with 30% of its acreage now devoted to the strain, and recently began milling its own rice, too.
Even Japan is betting on the US market: In late 2023, premium Japanese sake label Dassai Blue opened its first US outlet, an $85m, 55k-square-foot brewery in Upstate New York, and 80% of its rice comes from Isbell Farms.
And while Japanese sake rice is still considered superior, Isbell is working to change that.
BTW: Interested in becoming a sake sommelier? Arkansas-based Origami Sake, launched in 2021 and already America’s largest US-owned sake brewery, is looking to open a sake school at the University of Arkansas.
Airtable founder Howie Liu brainstormed a bunch of multimillion-dollar AI business ideas you can simply take and run with. Just don’t forget about us when you’re filthy rich... which we can also help with, BTW: We’re co-hosting a pitch competition for AI startups with a $50k cash prize. The submission deadline is next week, so get pitching.
NEWSWORTHY NUMBER
Share of remote workers who report having close friends at work, compared to 69% of on-site and hybrid employees, per food tech platform ezCater’s Future of Workplace Experience Report.
Workers do want friends — 80% of respondents believe that having work friends makes them more engaged and collaborative, yet companies have struggled to lure employees back.
If you were wondering why a company like ezCater cares about work friends, well, it has a solution for offices trying to RTO. It found that over half of employees would appreciate in-office perks related to wellness, with 44% preferring food, and that 86% of Gen Z respondents said daily or weekly meals would improve their experience at work.
What better time to be social with your colleagues than over a nice, healthy grain bowl?
AROUND THE WEB
📅 On this day: In 1876, Romanian gymnast Nadia Comǎneci scored the first perfect 10 in Olympic history at just 14 years old.
The less-than-appetizing description of a dish from India’s Royal Roll Express restaurant found on delivery website Zomato. It was flagged by Bluesky users and seemingly written by an AI that mistook “chicken pops” — the gross-sounding dish in question — with chicken pox, a viral infection.
Restaurants and delivery services like DoorDash have previously been called out for using AI-generated menu descriptions, which can be misleading, perFuturism, though rarely this repulsive.
SHOWER THOUGHT
The fact that many people still say "aux" when referring to playing music in a car through Bluetooth, is the modern version of how we still say "filming" when it comes to recording a video.SOURCE
Today's email was brought to you by Juliet Bennett Rylah,Sara Friedman, and Singdhi Sokpo. Editing by: Ben "Why make work friends when you can make work enemies" Berkley.