Core Perspective - AT&T is undergoing a significant transformation under CEO John Stankey to adapt to modern demands for speed and mobility, moving away from its legacy copper network towards fiber optic and wireless infrastructure [1][5]. Company Strategy - Stankey emphasizes the need for AT&T to "disrupt itself" and has initiated a cultural shift within the company, prioritizing a tech-style, market-based culture over traditional corporate values [3][5]. - The company plans to phase out most of its copper network in the US by the end of 2029, which is part of its strategy to remain relevant in a competitive landscape [3][5]. Financial Performance - AT&T's stock has seen a 22% increase this year, outperforming competitors T-Mobile (8.25%) and Verizon (6.7%), indicating a positive market response to its strategic refocus on fundamentals [4]. - The company reported strong second-quarter earnings, driven by growth in wireless and fiber subscribers, and anticipates a multi-year tax benefit of up to $8 billion from the One Big Beautiful Bill Act [11]. Workforce Changes - AT&T's workforce currently stands at approximately 141,000 employees, with ongoing reductions to align more closely with competitors like Verizon (99,000) and T-Mobile (70,000) [14]. - The company has implemented a strict return-to-office mandate, leading to further workforce reductions, as Stankey indicated a willingness to let go of employees not aligned with the new company direction [15][16]. Competitive Landscape - AT&T is focusing on building extensive wireless and fiber optic networks to compete against Verizon, T-Mobile, and smaller operators, aiming to attract more customers through bundled services [5][10]. - Analysts suggest that AT&T's renewed focus on core competencies and a simplified strategy may enhance its profile among investors, contrasting with past misallocations of capital into non-core assets [19][20].

Core Viewpoint - Microsoft is considering implementing a stricter return-to-office (RTO) policy, potentially requiring employees to work in the office at least three days a week starting in January, aligning more closely with other major tech companies [1][3][4]. Group 1: Policy Changes - The company has had a flexible work policy since late 2020, allowing employees to work remotely for up to 50% of the time without prior approval, but this has been more flexible in practice [2]. - The new policy under consideration would require most employees to work in the office at least three days a week, similar to policies at Meta and Google [3][8]. - Some teams within Microsoft, such as the Corporate, External, and Legal Affairs (CELA) group, already work in the office more than three days a week [8]. Group 2: Industry Trends - The potential policy change reflects a broader trend in the tech industry, where companies like Amazon have implemented stricter RTO policies, requiring in-person work five days a week [4]. - Increased pressure on employee performance is noted, with Microsoft having fired thousands of low performers this year and introducing a new performance improvement plan [9][10]. Group 3: Leadership Communication - Microsoft's cloud and AI head indicated that the flexible work policy would not change unless there was a noticeable drop in productivity, although it remains unclear if such a drop has occurred [9]. - The company's top finance executive emphasized that the upcoming year will require "intensity," building on previous calls from the CEO for dedication and hard work from employees [11].

Tesla debuted a test of its robotaxis — fully autonomous cars available through a ride-hailing service — on June 22. There were some hiccups. According to videos posted by influencers and Tesla shareholder who participated in the test in Austin, some cars drove in the wrong lane, exceeded the speed limit, braked at inappropriate times, and had trouble parking without intervention. The National Highway Traffic Safety Administration said it was looking into the irregularities depicted in videos. A group of Te ...

Core Insights - Lyft is partnering with Baidu to introduce robotaxis in Europe, starting with the UK and Germany in 2026, pending regulatory approvals [1][2] - The partnership aims to leverage Baidu's autonomous driving technology and Lyft's operational expertise to enhance mobility solutions for European users [2] - Baidu's Apollo Go service, launched in 2020, currently operates in 11 Chinese cities and plans to expand to Dubai and Abu Dhabi by 2026 [2] Company Developments - Lyft announced the acquisition of Freenow, a ride-hailing service in nine European countries, to strengthen its presence in the European market [7] - The collaboration with Baidu is part of Lyft's strategy to integrate advanced technology into its services, focusing on safety, reliability, and privacy for users [2] Industry Context - The robotaxi market is becoming increasingly competitive, with major players like Tesla and Waymo also vying for dominance in the US [8] - Analysts have expressed skepticism about the profitability timeline for driverless taxis, suggesting that the market may be overestimated [8]

A Palantir exec had some strong words for Large Language Models. The Denver-based AI software company reported its first-ever billion-dollar quarter in Monday's Q2 earnings report, and the executives opened the investors call with comments on LLMs and how it plans to win the AI race. "LLMs, on their own, are at best a jagged intelligence divorced from even basic understanding," Ryan Taylor, the company's chief revenue officer and chief legal officer, told shareholders on the earnings call. "In one moment, t ...

Palantir's CEO, Alex Karp, saw no reason to be humble after his company's blockbuster second-quarter earnings. "As usual, I've been cautioned to be a little modest about our bombastic numbers, but there's no authentic way to be anything but have enormous pride and gratefulness about these extraordinary numbers," he said as he kicked off his part of the earnings call on Monday. He struck a similar tone in his letter to shareholders. The company also raised its full-year revenue guidance midpoint to just nort ...

Adtech company OpenX has accused Google of repeatedly kneecapping its growth through anticompetitive tactics in the digital advertising market — and now it wants payback. OpenX on Monday piggybacked on an antitrust lawsuit previously filed against Google by the US Department of Justice with a lawsuit of its own.The supply-side platform's 88-page lawsuit, filed in the US District Court for the Eastern District of Virginia, said that the tech behemoth's illegal business practices "crippled competitors like O ...

Core Insights - Amazon is restructuring its Wondery podcast studio due to a shift in podcast consumption towards video and personality-driven content [1][2] - Approximately 110 employees, including Wondery's CEO Jen Sargent, are being laid off as part of this reorganization [1][11] - The podcasting landscape has evolved, with a notable increase in video-forward, creator-led content, necessitating distinct strategies for audience engagement and monetization [5][6] Organizational Changes - Wondery's narrative podcast team will be integrated into Amazon's audiobook division, Audible, focusing on audio-led storytelling [3][8] - The creator-led content team from Wondery will join the Talent Services team, forming a new organization called Creator Services [9] - A new team will be established to enhance advertising and sponsorship opportunities across Wondery and Amazon Music, led by Angie More [10] Performance and Future Direction - Wondery has produced award-winning podcasts and has seen podcast revenue grow by more than 4 times since joining Amazon [4][11] - The restructuring aims to better support creators in monetizing their content and simplify the advertising process [4][6] - The changes are expected to enhance the overall experience for creators, customers, and advertisers, aligning with strategic opportunities in the evolving podcast market [6][12]

A United Airlines plane was forced to make an emergency landing after one of its engines stopped working. Flight 108 departed Washington Dulles around 8 p.m. on Friday, July 25, more than two hours behind schedule. The 12-year-old Boeing 787 Dreamliner then spent around 30 minutes in the air before returning to the airport, which is just outside the nation's capital. In separate statements, United and the Metropolitan Washington Airports Authority said this was due to "a mechanical issue." Air traffic contr ...

The investor's company, which owns scores of businesses across many sectors and is viewed by Wall Street as a microcosm of the US economy, spelled out where it was taking a hit. Berkshire said trade 'uncertainties' were hitting some of its biggest consumer brands First-half revenues fell about 12% at apparel retailer Fruit of the Loom, 10% at children's clothing brand Garan, which owns Garanimals, and 39% at Jazwares, the maker of Squishmallows. Berkshire doesn't disclose revenue or profit figures for indiv ...