Bad day for Hunter Biden

Presented by The U.S. Chamber of Commerce: POLITICO's must-read briefing on what's driving the afternoon in Washington.

Aug 11, 2023 View in browser   By Bethany Irvine Presented by The U.S. Chamber of Commerce In a surprise announcement, AG Merrick Garland named David Weiss, the U.S. attorney for Delaware who has been leading the probe, as a special counsel. | AP The federal investigation of HUNTER BIDEN was upended in the span of an hour this afternoon with a pair of surprise developments inside the Justice Department. The prosecution of President JOE BIDEN’s son, which appeared to be nearing completion only a few weeks ago, now appears to be set for months of more wrangling — and a possible trial. First … In a surprise announcement, AG MERRICK GARLAND named DAVID WEISS, the U.S. attorney for Delaware who has been leading the probe, as a special counsel, giving him broader powers to investigate and bring charges without standard Justice Department oversight. Weiss, who had not previously sought special counsel authority, did so on Tuesday, and Garland said he determined the move was warranted. “This appointment confirms my commitment to provide Mr. Weiss all the resources he requests,” he said in a statement delivered at Main Justice. “It also reaffirms that Mr. Weiss has the authority he needs to conduct a thorough investigation and to continue to take the steps he deems appropriate independently, based only on the facts and the law.” More from Betsy Woodruff Swan Then … Moments later, prosecutors working under Weiss filed papers in Delaware’s federal trial court indicating that they no longer had any hopes of reaching a plea bargain with the younger Biden on tax and gun charges. (Recall that a misdemeanor plea deal that would have kept him out of jail fell apart at a court hearing last month.) “The Government now believes that the case will not resolve short of a trial,” the prosecutors wrote, asking the judge to dismiss the pending charges so the case could be refiled in California or D.C., where Biden is alleged to have committed his tax crimes. Note that the request for a change of venue would not have been possible without Garland’s special counsel designation, which now gives Weiss the latitude to file charges outside of Delaware. The fallout … Republicans have raised questions for months about why Weiss had not been granted special counsel status. But now that he has it, they are hardly pleased. House Oversight Committee Chair JAMES COMER, who has been leading the GOP’s investigation into the Biden family, called Garland’s move “part of the Justice Department’s efforts to attempt a Biden family coverup,” while a spokesman for Judiciary Committee Chair JIM JORDAN said “Weiss can’t be trusted” with the case. CHUTKAN WARNS TRUMP — Just before Garland spoke a few blocks down Pennsylvania Avenue, a separate set of federal prosecutors and lawyers for former president DONALD TRUMP sparred in front of U.S. District Judge TANYA CHUTKAN over the DOJ’s request for a protective order in the ongoing 2020 election conspiracy case. Chutkan’s decision, dealing with how Trump and his defense team can disclose evidence gathered in the case, split the difference between the two sides. Although the prosecutors under special counsel JACK SMITH initially wanted to bar Trump and his defense team from disclosing any evidence handed over to Trump's defense as they prepare for trial, Chutkan said she was willing to allow nonsensitive materials to be made public. “​​I don’t want this order to be overinclusive,” Chutkan said, “I don’t want to just issue a blanket protective order over information that is not sensitive." Still, Chutkan repeatedly noted that Trump is still required to adhere to pretrial conditions preventing witness intimidation. “What the defendant is currently doing, the fact that he’s running a political campaign, has to yield to the orderly administration of justice,” Chutkan said. “If that means he can’t say exactly what he wants to say about witnesses in this case, that’s how it has to be.” Chutkan closed the hearing with a final warning for Trump’s team: The more “inflammatory statements” are made that could affect the jury, the “greater the urgency will be that we proceed to trial quickly.” More from Kyle Cheney Related read: “Who Are the Prosecutors Helping Jack Smith Take On Donald Trump?,” by WSJ’s Sadie Gurman Good Friday afternoon. Thanks for reading Playbook PM. Drop me a line: birvine@politico.com.   A message from The U.S. Chamber of Commerce: Concerns about policy risks for public companies — changes in taxes, regulations, and enforcement — increased 27% over the last decade, according to a report from the U.S. Chamber of Commerce. Rising public policy risks threaten business growth, innovation, and our country’s global competitiveness. In Washington, the polarization, gridlock, regulatory overreach, and inability to act smartly and strategically are making it harder for businesses to do their jobs and move this country forward.   PEAK DOUG — “The Strange Club of D.C. Politicos Who All Have One Thing in Common,” by Sam Stein: “It’s not particularly surprising to find a lot of men who share the same name in national politics. In the Senate, 10 percent of current members go by Jon or John. But the Dougs are different.”   ATTENTION PLAYBOOKERS! You need to keep up with the latest political news and nuggets, so here’s a juicy tip: You need to add California Playbook to your daily reading. We have a new team at the helm who are eager to take you inside the political arena in California, from Sacramento and Los Angeles to Silicon Valley and throughout the Golden State! Get the latest exclusive news and buzzy scoops from the fourth largest economy in the world sent straight to your inbox. SUBSCRIBE TODAY.     2024 WATCH MONEY, MONEY, MONEY — Trump’s legal troubles are challenging his cash flow, with the former president racking up more than $27 million in legal fees in the first six months of this year, NYT’s Shane Goldmacher and Maggie Haberman report this morning. “New financial reports show that the former president’s various political committees and the super PAC backing him have used roughly 30 cents of every dollar spent so far this year on legal-related costs. … That $27 million in legal costs includes Mr. Trump paying at least eight law firms more than $1 million each in the first half of 2023.” And while Trump continues to rake in donations “across the broader Trump sphere, the signs of fiscal strain are showing,” Goldmacher and Haberman write. “In one unusual transaction, Mr. Trump’s Save America PAC asked for a refund on the $60 million it had transferred last year to the super PAC, Make America Great Again Inc., that was expected to chiefly pay for television ads. Already, $12.25 million has been returned to the account that mostly pays for legal bills. In another move, Mr. Trump began redirecting more of every dollar raised into that same account.” DeSANTIS DOWNLOAD — Amidst multiple staff cuts and personnel upheavals, some Republicans fear that Florida Gov. RON DeSANTIS’ weak messaging and political strategy are adding to his growing problems on the campaign trail, AP’s Steve Peoples, Thomas Beaumont and Michelle Price report this morning from Coralville, Iowa. “‘It remains to be seen whether or not he can save his campaign. He’s not run a particularly effective one to date, obviously,’ said ERIC LEVINE, a New York-based Republican donor … ‘He needs to be able to speak to a broader range of issues than the culture wars. To me, that is fundamentally at the core of his problem.’” Related read: “DeSantis Is Heckled During Iowa Bus Tour,” by NYT’s Neil Vigdor THE ECONOMY  IT AIN’T OVER TILL IT’S OVER — Despite a new wave of cautious optimism that the Federal Reserve's rate hikes have reduced inflation numbers, some experts fear “volatile” energy prices and uncertain food and fuel inflation rates may indicate that the Fed will continue to raise interest rates down the road, NYT’s Dealbook reports. “‘With oil prices and gasoline prices edging higher, the Fed may feel compelled to conclude its rate hike campaign with one last “insurance” rate hike — but could now wait until the November meeting to decide,’ QUINCY KROSBY, chief global strategist for LPL Financial, wrote in a research note.” POLICY CORNER  ECO UPDATE — The Department of Energy announced this morning it’s granting $1.2 billion in two “direct air capture” projects aimed at removing carbon dioxide from the air, AP’s Isabella O’Malley: “Project Cypress will be built in Calcasieu Parish, Louisiana. South Texas DAC is planned for Kleberg County, Texas. Each claims it will capture up to one million metric tons of carbon dioxide per year initially. A representative of the Texas project said it will scale up to remove 30 million metric tons per year once fully operational. No date was given.” ON THE WRONG TRACK? —  “Before Joining Federal Safety Program, Freight Railroads Push to Change It,” by NYT’s Mark Walker: “Following years of resistance, the nation’s largest freight railroads agreed to participate in a federal safety program that allows employees to confidentially report safety issues. But five months after that commitment, none of the railroads have formally joined the program. Though they say they still intend to participate, the companies have raised concerns about the initiative, saying it is flawed and needs to be overhauled, according to government and industry officials.” Related read: “EPA weighs formal review of vinyl chloride, the toxic chemical that burned in Ohio train derailment,” by AP’s Matthew Daly BACK TO SCHOOL — “A New FAFSA Form Is Coming, Along With Changes in College Aid,” by NYT’s Ann Carrns   HITTING YOUR INBOX AUGUST 14—CALIFORNIA CLIMATE: Climate change isn’t just about the weather. It's also about how we do business and create new policies, especially in California. So we have something cool for you: A brand-new California Climate newsletter. It's not just climate or science chat, it's your daily cheat sheet to understanding how the legislative landscape around climate change is shaking up industries across the Golden State. Cut through the jargon and get the latest developments in California as lawmakers and industry leaders adapt to the changing climate. Subscribe now to California Climate to keep up with the changes.     BEYOND THE BELTWAY  DON’T SEE THIS OFTEN PART II  — After California Democrat ADITYA PAI announced he was suspending his campaign for Rep. MICHELLE STEEL’s (R-Calif.) House seat yesterday citing “a lack of joy,” he has reversed course once more. In a follow up email announcement yesterday afternoon, Pai said that he planned to continue his campaign and the letter announcing the suspension was sent by accident. “I wrote that letter as an emotional processing exercise after an exhausting glimpse into the political machine. I sent it to some mentors and staff for perspective before getting back to work; it was never supposed to be shared,” Pai wrote, “Despite the emotional weight of candidacy, my call to service — not politics — far outweighs it.” More from LA Times’ Lilly Nguyen TRUMP CARDS MORE BAD NEWS — Bar authorities in California say the trial to disbar former Trump attorney JOHN EASTMAN should move forward despite the looming threat of an indictment from Special Counsel Jack Smith, Kyle reports. Eastman, who helped orchestrate Trump’s efforts to overturn the 2020 presidential election results, is being charged by legal authorities with several violations of legal ethics and rules. He previously requested that his trial be postponed while awaiting a potential indictment from the DOJ. WAR IN UKRAINE TURNING UP THE HEAT — “Ukraine backers want Biden to amp up his pitch for the war effort to the American public,” by CNN’s Kylie Atwood, Lauren Fox and Kevin Liptak: “White House officials are confident the $24 billion in supplemental funding for Ukraine the president requested Thursday will ultimately get the congressional backing it needs to make it to his desk … But a major concern among Ukraine supporters in Congress this summer is what precarious position they might be in down the road – especially if public support falters heading into a bigger showdown over funding that could play out before year’s end.” AMERICA AND THE WORLD  TO INFINITY AND BEYOND  — “Russia launches moon mission in first attempt in almost a half-century,” by WaPo’s Adela Suliman and Natalia Abbakumova DANCE OF THE SUPERPOWERS — With a weakening economy and cash flow issues, Beijing is unlikely to push back against the White House’s new investment ban on Chinese tech companies, WSJ’s Liza Lin and Dan Strumpf report: “Instead, Beijing is more likely to retaliate in other domains, such as by imposing more export restrictions over key materials that China has significant influence and control over—like rare earths or particular minerals.” Did someone forward this email to you? Sign up here. Send Playbookers tips to playbook@politico.com or text us at 202-556-3307. Playbook couldn’t happen without our editor Mike DeBonis, deputy editor Zack Stanton and producers Setota Hailemariam and Bethany Irvine.   A message from The U.S. Chamber of Commerce:     Follow us on Twitter Rachael Bade @rachaelmbade Eugene Daniels @EugeneDaniels2 Ryan Lizza @RyanLizza Eli Okun @eliokun Garrett Ross @garrett_ross   Subscribe to the POLITICO Playbook family Playbook  |  Playbook PM  |  California Playbook  |  Florida Playbook  |  Illinois Playbook  |  Massachusetts Playbook  |  New Jersey Playbook  |  New York Playbook  |  Ottawa Playbook  |  Brussels Playbook  |  London Playbook View all our politics and policy newsletters Follow us

To change your alert settings, please log in at https://www.politico.com/_login?base=https%3A%2F%2Fwww.politico.com/settings This email was sent to ateebhassan000.ravian@blogger.com by: POLITICO, LLC 1000 Wilson Blvd. Arlington, VA, 22209, USA Please click here and follow the steps to unsubscribe.

5 growth lessons we learned while scaling from $2M to $3M ARR

TechCrunch+ Newsletter

By Walter Thompson Friday, August 11, 2023

Welcome to TechCrunch+ Friday Image Credits: Yaorusheng / Getty Images There are a million reasons why startups fail, and there are only a few reasons why they succeed. All successful startups share the same proof points, such as product-market fit, strong compounded growth rates and latent customer demand. They also use tested frameworks that aren't discussed nearly as much, according to Jonathan Martinez, a growth marketer with experience at Postmates, Uber and Chime and the co-founder of Sales Kiwi. In his latest TC+ column, Martinez shares five things he learned while scaling his company from $2 million to $3 million ARR. “While it may seem that not much changes between each successive million, you would be surprised at the mistakes one can make in this latest stage of startup growth,” he writes. Martinez explains in detail how they managed hiring, marketing spending, growth strategy, and other factors that helped propel the company forward during this critical phase. “My hope is that this will help to alleviate some of the bumps experienced when scaling your own startup.” Thanks very much for reading, Walter Thompson Editorial Manager, TechCrunch+ Read More

Unveiling the winning formula: How B2C fintechs conquer customer acquisition Image Credits: virtualphoto / Getty Images Customer acquisition costs are top of mind for every startup, but B2C fintechs operate in an intensely competitive environment as they try to differentiate their offerings. To find tactics that helped companies break through, Ian Sherman, director of growth and value creation at Sagard, surveyed fintechs between seed stage and Series D to track how they managed their marketing budgets over time. “Amid the barrage of marketing channels available, the mantra for B2C fintechs is ‘less is more,’ and our evidence-based research supports this approach,” he writes. Read More

TechCrunch Disrupt 2023 Sponsored by TechCrunch Come to San Francisco from September 19 - 21 to learn something new and network with other founders and investors. Buy tickets

So your startup's runway is dwindling and fundraising is hard. What's next? Image Credits: Boris Zhitkov / Getty Images According to Crunchbase, web3 startups raised $3.6 billion in the first half of 2023. Given that funding is down 78% from the same period last year, Jacquelyn Melinek asked several investors about how startups should proceed — and adjust their expectations. "If you are down to just two to three months, you're out of options," advised Kelly Brewster, CEO of bitcoin-focused accelerator Wolf. "You should pay employees severance, [your remaining] tax bill, and shut down the company. Or, you may find yourself in a bad situation." Read More

5 lessons robotics founders can learn from the AV industry Image Credits: Anton Petrus / Getty Images Investors poured $7 billion into robotics startups last year, a 15% year-over-year increase that reflects how automation is quickly gaining ground across multiple sectors. In a TC+ column based on his firm’s yearly State of Robotics report, Sanjay Aggarwal, a venture partner at F-Prime Capital, says robotics founders should take a page from the autonomous vehicle industry when it comes to successful use cases, M&A and unit economics. Read More

Ask Sophie: As an immigrant to the US, how can I create and work for my own startup? Image Credits: Bryce Durbin/TechCrunch Dear Sophie, I was born in India and have been living and working in the U.S. on an H-1B with my current employer for four years. I tried to apply for one of the 10,000 H-1B visa holder work permits that Canada made available in July, but I didn't get one. I've decided to move forward and found my own startup in the U.S. What's the best way for me to be able to stay in the U.S. and legally work for my startup? — Fledgling Founder Read More

7 VCs explain why the creator economy still has legs Image Credits: MTStock Studio / Getty Images “There are more creator economy startups than creators,” tweeted Banana Capital founder Turner Novak in April 2021. In January 2023, The Information reported that funding for the sector fell 50% between 2021 and 2022, “but creator economy investors remain unfazed by what may seem like a steep decline,” reports Amanda Silberling. For our latest investor survey, she talked to seven investors about “where the industry is headed, the rise of short-form video, the shifting role of influencer marketing, and what the launch of new platforms portends.” Brian Harwitt, partner, Coventure Sasha Kaletsky, co-founder and managing partner, Creator Ventures Julia Maltby, principal, Flybridge Josh Constine, principal investor, SignalFire Katelin Holloway, founding partner, 776 Ali Hamed, co-founder and general partner, Crossbeam Venture Partners Sima Gandhi, founder of Creative Juice; investor and advisor at G3 Read More

Beacon's latest demo day startups are a bet that the future might be multichain Image Credits: v_alex / Getty Images Jacquelyn Melinek covered the graduation of web3 accelerator Beacon’s second cohort on Wednesday, where 25 founders representing 10 companies participated. “The startups focused on a range of crypto subsectors like infrastructure, gaming, decentralized social media and DeFi, to name a few,” she writes. Cube3.AI Ryu Games Wasabi Phaver Vest Side Protocol Formless Hopscotch Octane Native Read More

Pitch Deck Teardown: ANYbotics' $50M Series B deck Image Credits: Anybotics Robotics startup ANYbotics announced a $50 million Series B round in May. The company, which builds ruggedized quadrupedal robots, says it has already booked preorders worth $150 million “from gas, oil and chemical companies,” reports Haje Jan Kamps. After redacting some customer and revenue details, ANYbotics shared its winning pitch deck with TC+: Cover slide Mission slide Problem slide Why now slide State of the industry slide Company history slide Product slide Solution slide Value proposition slide Traction slide [redacted] Market size and market projections slide Technology slide 1 Technology slide 2 Team slide Competitive landscape Go-to-market slide Financials slide [redacted] Testimonials slide [redacted] Thank you slide Read More

Read more stories on TechCrunch.com

View this email online in your browser Privacy Policy | Terms of Service | Unsubscribe © 2023 Yahoo. All rights reserved. 110 5th St, San Francisco, CA 94103

California Today: California Mourns a Wildfire Disaster in Maui

The state that has recently suffered some of the worst wildfires in American history will lend its expertise to Hawaii.

View in browser|nytimes.com Continue reading the main story August 11, 2023 By Shawn Hubler and Kevin Yamamura It's Friday. Californians are mourning the death and destruction in Maui. Plus, Hollywood studios and striking writers plan to restart negotiations today. Burned buildings on the waterfront in Lahaina, a mecca for visitors to western Maui.Patrick T. Fallon/Agence France-Presse — Getty Images The first videos showed residents fleeing through walls of fire, frantically trying to escape a disaster that caught many of them off guard. Then came reports of people leaping into the Pacific Ocean as flames engulfed Lahaina, a historic seaside town on the Hawaiian island of Maui. The scenes were reminiscent of some of California's most horrific wildfires. When the Camp fire eviscerated the town of Paradise in 2018, residents had little time to escape an inferno propelled by high winds. And during the wine country fires in 2017, some desperate people jumped into their swimming pools to escape the flames. We won't know the full scope of the disaster in Hawaii for days. Officials are still assessing the situation and providing limited updates, each one seemingly more horrific than the last. As of Friday morning, the official death toll had risen to 55, and Gov. Josh Green of Hawaii and other officials were saying it would probably surpass the toll from the 1960 tsunami, which took 61 lives on the Big Island. The governor called the Maui fires "likely the largest natural disaster in Hawaii state history." California has tried to learn from its wildfires. But even with decades of experience, the state braces each year for natural disasters unlike any before, as climate change takes hold. Continue reading the main story ADVERTISEMENT Gov. Gavin Newsom on Thursday dispatched more than a dozen search-and-rescue and emergency workers to Maui who are trained in locating survivors and in identifying remains. The interstate assistance is a reminder of how emergency preparedness varies from state to state. "Maui has a lot of challenges that are unique to the geographic area, and that are different from what we experience in California," Brian Ferguson, a spokesman for the California Governor's Office of Emergency Services, said in an interview. For starters, Hawaii's emergency response is not as geared for fire as it is for, say, intense rain, Ferguson noted. Tens of thousands of state and local firefighters are on constant alert in California, but Hawaii, a largely rural state, has a far smaller population and far fewer emergency medical workers. Mutual aid and firefighting equipment is much less accessible than on the mainland, he added. "Honolulu can't just drive extra fire trucks over if Maui needs them," Ferguson said. Continue reading the main story ADVERTISEMENT California has learned the hard way how to warn residents when high winds are forecast during the fire season, so they can be alert and ready to evacuate. Residents have come to understand what red-flag alerts mean on breezy days. Utilities now cut off power preemptively to reduce the risk that downed lines will spark new blazes. Getting the word out about a fire threat is more difficult in places like Maui, where communications can be spotty and the population swells with thousands of vacationing visitors. And evacuation is difficult any place there is only one major escape route. Maui has a special place in the hearts of many Californians. Some visit their relatives on the island each year. Others consider Maui, a five-hour flight away, to be their favorite tourist destination, and go there for honeymoons, anniversaries and family reunions. Now, some will go there to help residents recover. For more: Lahaina is in ashes. How climate change turned Hawaii into a tinderbox. Here's how you can help wildfire victims in Hawaii. Continue reading the main story ADVERTISEMENT Enjoy all of The New York Times in one subscription — the original reporting and analysis, plus puzzles from Games, recipes from Cooking, product reviews from Wirecutter and sports journalism from The Athletic. Experience it all with a New York Times All Access subscription. The alliance bargaining on behalf of Hollywood studios asked for formal negotiations to restart.Mark Abramson for The New York Times The rest of the news As the screenwriters' strike passed 100 days, the union and the studios are scheduled to hold a formal meeting Friday to restart negotiations. Governor Newsom, citing the need to protect public safety before California has another wet winter, signed an executive order that provides for repairs to levees while sidestepping environmental protection regulations, The Los Angeles Times reports. A surge of nearly $15 billion in state and federal funding will allow California school districts to provide freshly made, healthy meals to students, CalMatters reports. Southern California A Los Angeles city attorney announced that no criminal charges would be filed in an altercation last year between City Councilman Kevin de León and an activist, The Los Angeles Times reports. Central California Avian botulism was detected in two bird carcasses collected from Tulare Lake, The Fresno Bee reports. Northern California California regulators agreed on Thursday to allow Cruise and Waymo to expand their driverless ride services throughout San Francisco. WHAT WE'RE EATING David Malosh for The New York Times. Food Stylist: Simon Andrews. Summer Vegetable Niçoise Salad By David Tanis 1 hour 45 minutes Makes 4 to 6 servings A collection of extinct 19th-century French moths at the Museum of Jurassic Technology.Adam Amengual for The New York Times Where we're traveling Today's tip comes from Kim Bassett, who recommends one of the coolest museums in Los Angeles: "While I was hunting for museums during a recent Los Angeles visit, a serendipitous Google search surfaced the Museum of Jurassic Technology. After the blockbuster La Brea Tar Pits and the Academy Museum of Motion Pictures, a visit to the Jurassic felt like an art house animation excavated from a forgotten genius's attic. It is small, closely curated and indescribably singular, a cocktail of the unbelievably true and playfully suspicious. We took in a survey of early animal-based folk remedies and a homage to the dogs of the early Soviet space program. The museum's curios and narratives weave a deliberate tension between awe and amazement, knowing and doubting. Even the 'Jurassic' in its name doesn't refer to a time period or a (real) place; rather, it seems a state of credulous wonder. While Los Angeles's other museums were fascinating, the M.J.T. was undoubtedly the most wondrous." Tell us about your favorite places to visit in California. Email your suggestions to CAtoday@nytimes.com. We'll be sharing more in upcoming editions of the newsletter. Tell us A number of Los Angeles landmarks are turning 100 this year, including the Hollywood sign, the Los Angeles Memorial Coliseum and the Biltmore Hotel in downtown. Do you have any favorite memories of these institutions? Email a few sentences to CAtoday@nytimes.com, and please include your name and the city where you live. The swing at Bernal Heights in San Francisco.Jeff Chiu/Associated Press And before you go, some good news See a concert at a converted mortuary, do yoga in a gothic cathedral and ride the longest elevator west of the Mississippi. These are some of the 23 best things to do in San Francisco in 2023, according to The San Francisco Chronicle. Thanks for reading. We'll be back on Monday. Enjoy your weekend. P.S. Here's today's Mini Crossword. Soumya Karlamangla, Briana Scalia and Bernard Mokam contributed to California Today. You can reach the team at CAtoday@nytimes.com. Sign up here to get this newsletter in your inbox. Continue reading the main story Need help? Review our newsletter help page or contact us for assistance. You received this email because you signed up for California Today from The New York Times. To stop receiving California Today, unsubscribe. To opt out of other promotional emails from The Times, including those regarding The Athletic, manage your email settings. To opt out of updates and offers sent from The Athletic, submit a request. Subscribe to The TimesGet The New York Times app Connect with us on: Change Your EmailPrivacy PolicyContact UsCalifornia Notices The New York Times Company. 620 Eighth Avenue New York, NY 10018