IPOs and SPACs are Back, Mag 7 Showdown, Zuck on Tilt, Apple's Fumble, GENIUS Act passes Senate

AI & Technology - Meta offered $100 million deals to poach OpenAI's talent, but failed [1] - Meta invested $14 billion in Scale AI, making its biggest bet on AI [1] - The report discusses the Mag 7 AI Showdown, ranking the most likely AI winners and biggest stock divergences [1] - Apple is fumbling AI and the report discusses how they can fix it [1] - China launched a new $40 billion state fund to boost its chip industry [1] Market Trends & Economy - The report discusses the state of LA, Hollywood's decline, positivity around GDP growth, and AI productivity [1] - IPOs and M&A are heating up in 2025 [1] - The report analyzes the state of liquidity, including SPACs and Direct Listings [1] - Amazon's "kingmaker" position and potential job displacement are discussed [1] Policy & Legislation - Sacks discusses the GENIUS Act passing the Senate [1]