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Elon Hype Works For One Business, Not The Other
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The CFTC proposed prediction market rules banning bets on war and assassinations. SpaceX drew $250B+ in IPO demand far beyond its $75B target. Microsoft patched a record ~200 security flaws, Tesla has just 59 robotaxis, and Siri AI gets its first hands-on.
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So good, so good, so good.
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Welcome to the Tech We Write home for Wednesday, June 10, 2026. I'm Brian McCullough. Today the CFTC proposed prediction market rules banning bets on war and assassinations. SpaceX drew more than $250 billion in IPO demand, far beyond its $75 billion target. Microsoft patched a record 200 security flaws, Tesla has just 59 robo taxis and Siri AI gets its first hands on. Here's what you miss today in the world of tech. Think you have to build your own search engine scraping infrastructure? Think again folks. SERP API can take care of all your search engine scraping needs. It lets AI products access real time web search data programmatically. No scraping infrastructure required. Their APIs offer structured JSON data from all the top search engines including Google, Amazon and YouTube. Top tech companies already use SERP API to power their AI agents, their market intelligence tools and their automated research workflows. See how it can help you and your team. SERP API provides 250 free searches per month. Go check it out at serpapi.com that's SERP serpapi.com Sources tell the Journal that the CFTC will propose new prediction market rules banning bets it finds aren't in the public interest or that seem highly susceptible to manipulation. Quote the rules would likely limit certain types of sports related trading such as bets on player injuries and so called first pitch gambling like the type that ensnared an all star major league pitcher. Virtually all bets on war, terrorism or assassinations would also likely be prohibited on the basis that they aren't in the public interest. The agency's proposal doesn't outright ban trading on specific types of so called event contracts, but rather outlines factors that regulators will use to review certain types of contracts on a case by case basis. The CFTC had already offered some preliminary guidance on what types of betting should be avoided and Kalshi and other prediction platforms have moved to get ahead of the new regulations. Kalshi said it was planning to require that some users disclose the identity of their employers, the Journal reported. The proposal and Kalshee's changes show how the rules are still being sorted out in a new world that allows betting on the outcome of everything from elections to corporate earnings to the super bowl halftime show. The list of what is allowed is likely to be much longer than what isn't. Officials say that in general, the intent is to permit the growth of prediction markets, including those focused on sports, despite intense pushback from states that have their own gambling laws and say prediction markets are an end run around them. The new rules are an effort by the CFTC to keep up with the quickly growing prediction markets, which began launching a range of new types of event contracts in the regulatory vacuum that preceded President Trump's re election. The Trump family has itself taken a financial interest in the emerging market, with one of Trump's sons serving as an advisor to Kalshi and its largest competitor, Polymarket, whose large offshore platform is unregulated. The cftc, which was originally created to regulate commodities and derivatives markets, considers bets placed on prediction platforms a form of swaps trading under prior administrations. Its leadership blocked Kalshi, Polymarket and other platforms from listing broad categories of these events. Contracts, including those related to elections and sports markets tied to war, have been a particularly sensitive topic for prediction markets, given that information about geopolitical conflicts could rely on highly classified information and put lives in danger. A US Soldier was charged in April over trades he allegedly made around the operation that led to the arrest of Venezuelan leader Nicolas Maduro. A pair of lawmakers have proposed a law to ban those bets outright on US Regulated platforms. The cftc, under its Trump appointed chair Michael Selig, has pivoted toward being broadly permissive to the platforms. In a series of legal actions this year, the CFTC moved to block states that have tried to prevent Kalshi and other prediction market platforms from operating in their jurisdiction. While most U.S. professional sports leagues have embraced sports gambling, some have been more reluctant when it comes to major prediction markets. Major League Baseball earlier this year signed a licensing deal with polymarket. Selig's stance on prediction platforms has been controversial with some state leaders and federal lawmakers in both parties. In March, lawmakers introduced bipartisan legislation to prohibit US Regulated prediction markets from listing contracts related to sporting events and casino style games such as video poker, blackjack and bingo. The rules proposed Wednesday, which will undergo a 45 day public comment period, are unlikely to be the last ones the CFTC issues on prediction markets. The agency is weighing other rules, including ones geared toward protecting retail traders, according to people familiar with the matter, end quote, and then back to the Journal for more details on that Kalshee thing. Specifically, quote. Kalshi is planning to require that participants in some prediction markets disclose the identity of their employers after an advisory committee recommended tighter security measures to combat potential insider trading and market manipulation. Users seeking to make bets in some markets linked to material non public information will be required to submit an online form disclosing where they work, Kalshi said. The changes are set to be rolled out in the coming weeks. Sensitive betting markets related to issues such as company performance and national security, including the war in Iran, are expected to require employment disclosure, according to a Kalshi official. In most cases, Kalshi won't verify the employment information provided by users unless the company learns of suspicious activity, a Kalshi spokeswoman said. Once suspicious activity is flagged, the company will launch an investigation and seek proof of employment. End quote. More indications that Mythos wasn't all marketing hype Quoting Krebs on security Microsoft today released software updates to plug nearly 200 security holes across its Windows operating system and supported software, a record number of fixes for the company's monthly Patch Tuesday cycle. Nearly three dozen of those bugs earned Microsoft's most dire critical rating, and exploit code for at least three of the weaknesses is now publicly available. The software giant said in a blog post last month that both its engineers and the security community are increasingly using artificial intelligence tools to find bugs, meaning this month's heavy Patch Tuesday may start to become the norm, said senior staff research engineer at Tenable. Some surveys put AI usage among security professionals generally at 90%, so it's unsurprising that this volume of patches may be the norm, nerong said. Pandora's proverbial box has been opened, and as more advanced AI models become available, we expect the norm to continue upward across the board, not just for patch Tuesday. While 200 vulnerabilities may be a record for Patch Tuesday, the actual number of security flaws Microsoft addressed this month is far higher, said Rapid7's Adam Barnett. So far this month, Microsoft has provided patches to address 360 browser vulnerabilities, which is an order of magnitude more than has been typical in any given month over the past few years, barnett wrote. As usual, browser flaws are not included in the Patch Tuesday count above. Indeed, the vast and presumably sustained uptick in the number of browser vulnerabilities has led to Microsoft no longer enumerating Chromium CVEs in the security update guidelines. Microsoft also patched a zero day vulnerability in Visual Studio code that allowed attackers to steal GitHub tokens with a single click, end quote. On the IPO front, SpaceX has reportedly drawn more than $250 billion of investor demand for what is poised to be the largest IPO in history, far beyond the $75 billion that SpaceX is aiming to raise, quoting Reuters. The deal's over subscription rate is running at three and a half to four times the planned offering size, sources said, which bankers and investors say is the latest sign that demand is strong. As Reuters reported on Friday, long only funds have put in what one source described as sizable orders. Musk briefly joined some Zoom meetings with potential investors, a source said. The company remains in the midst of the marketing process, sources said. On Tuesday, SpaceX President Gwen Shotwell and finance chief Brett Johnson were expected to attend a launch meeting at Morgan Stanley in midtown Manhattan with about 300 institutional investors and hosted by Morgan Stanley co president Dan Simkowitz, said a source familiar with the plans. Investor demand is still subject to change before the IPO prices expected on Thursday afternoon. Subscription figures reflect indications of interest rather than final allocations, which will be set at pricing. The sources added that some large institution investors tend to submit orders late in the IPO process. The sources requested anonymity because the matter is confidential. The offering comes at a time of extreme volatility in markets, however, with the NASDAQ composite trading lower on Tuesday after posting its steepest decline in more than a year on Friday, and bitcoin falling 2.8% on Tuesday, putting it 37% below its January high. Some analysts have speculated that one factor in the market retreat could be selling by SpaceX buyers raising funds for the IPO. End quote. AI is uncharted territory and many leaders are trying to navigate through without a guide to help them. That's why Morning Brew created the Intelligence Shift, a new podcast with PwC. It's all about how AI is fundamentally changing different industries. Host Dan Priest sits down with people who work with AI on a daily basis. Together they discuss real stories, real strategies and real takeaways for leaders. Get guidance from industry experts. Listen to the Intelligence Shift wherever you get your podcast.
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Zootopia 2 has come home to Disney Plus. Let's go get ready for a new case.
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We're going to crack this case and prove we're the greatest partners of all time. New friends you are Gary the Snake and your last name the Snake.
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Dream Team Habitats Zootopia has a secret reptile population.
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You can watch the record breaking finale phenomenon at home.
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You're clearly working at Zootopia 2.
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Now available on Disney Plus. Rated PG.
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No one goes to Hanks for his spreadsheets, they go for a darn good pizza. Lately, though, the shop's been quiet, so Hank decides to bring back the $1 slice. He asks copilot in Microsoft Excel to look at his sales and costs and help him see if he can afford it. Co pilot shows Hank where the money's going to and which little extras make the dollar slice work. Now Hanks has a line out the door. Hank makes the pizza, copilot handles the spreadsheets.
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Learn more@m365copilot.com work but remember Elon's other company quoting Bloomberg When Elon Musk kicked off Tesla's quarterly earnings call in July 2025, robo taxis were top of mind. The carmaker had just launched its automated ride hailing service several weeks earlier in Austin to glowing early reviews from the handpicked crop of initial riders. We've already expanded our service area in Austin, the chief executive officer said Tesla was planning to grow further in the city and quickly spread to California, Nevada, Arizona and Florida. We'll probably have autonomous ride hailing and about half the population of the US by the end of the year, he said. Almost a year later, Tesla has just 59 vehicles in its entire Robotaxi fleet as of Tuesday, limited to three Texas cities. Musk is known for making overly ambitious proclamations and missing self imposed deadlines at Tesla and SpaceX, which is literally in the business of moonshots. Yet even by those standards, the gulf between his public robotaxi statements and what the business has achieved is vast. Three months after that earnings call, Musk said Tesla would have 500 or more vehicles in the Austin area alone by the end of 2025. Robo Taxis arguably represent Tesla's most concrete source of new growth, but as the service approaches its one year anniversary, the results so far have been disappoint. Wait times can be long, availability is limited, and the cars pick up and drop off at incorrect locations, with human safety monitors occasionally riding along to supervise. Musk has already said the business won't be profitable until at least 2027. A few dozen vehicles after almost one year is, quote, well short of even our very bearish outlook, said Garrett Nelson, a senior equity research analyst with cfra. For well over a decade, Musk has over promised add Robotaxis to the list, they said. End quote. Finally today, Allison Johnson at the Verge has the first hands on with the new Siri. Parents want one thing and one thing only out of AI to add a list of soccer games or Spirit Week themed days from an email or a poorly formatted flyer onto their calendar in one shot. And I have good news for parents with iPhones. The new Siri can finally do this. After stumbling through its first launch of an AI imbued Siri, Apple is trying again. The newly upgraded Siri AI can chat with you about what might be killing the roses in your yard, put together a shopping list for the hardware store, and set a reminder to lay down some compost in that same flower bed. It can reference information in your email and calendar to make its recommendations, or provide an actually helpful answer to the question when should I leave for the airport? And yes, it can even add a list of events from an email to your calendar. I tried all of these scenarios out for myself and I saw it happen. AI Siri is for real this time, but it's also a pretty basic set of features for an AI assistant in 2026, particularly if you compare it to what Gemini has been doing on Android for the past couple of years. Google's chatbot has been able to add multiple calendar events from a screenshot for at least a year at this point. It's been diagnosing plant problems and scheduling maintenance reminders for months now, if not longer. New Siri is built on Gemini models, so it makes a lot of sense that the first iteration of Siri AI feels a little bit Gemini circa 2025. Siri AI has its own flavor though. Apple has a lot of proprietary stuff going on under the hood and in the cloud. It draws from an on device pool of data that's gleaned from things like email messages. This information is indexed so Siri can tap into the relevant bits when needed. Prompts that can't be handled fully on device are sent to Apple's private cloud compute with only the relevant pieces of personal data attached. Gemini handles the personal context differently. You opt into sharing your Gmail or calendar and then it'll go directly to those sources to get the information when needed. Siri AI working well depends a lot on the AI understanding context. So far it is doing pretty well. I asked it when I needed to return some camera gear I rented for WWDC and it found the information from a calendar event I'd made and in an email. It's due back Friday for the record. Likewise, prompting it with something like Add these events to my calendar will consistently trigger it to reference the information on my screen. So far, so good. I couldn't get Ciri to engage in any shenanigans. I didn't exactly stress test it, but the guardrails were strong enough to return a curt I can't help you with that to a shady prompt, which is fair. As a conversationalist, New Ciri also seems a bit more dispassionate than Gemini. I gave them both the same prompt asking why the flowers in front of my house seemed to be wilting. They both gave wordy responses with a lot of possible causes, but Gemini started with that is incredibly frustrating where Ciri was more direct and got right into diagnosing the situation. The new Siri handled my follow up requests well too. I asked it to recommend a garden center near home and it came up with a good suggestion. It also created a new reminder list with some checklist items for my garden rehab project and added a calendar event, all from a single prompt. Pretty basic stuff, but this is Siri. The fact that it works at all is a step forward that's been years in the making. New Siri pops up in a lot of places on the iPhone. I've gotten into the habit of swiping down on the home screen and using search to get into apps, and every time I do, there's a big prompt to search or ask with a glowing blinking cursor. Long pressing the wake button summons Siri from the dynamic island. Now, rather than presenting it in a glowing border around the screen. The changes all add up to a subtle feeling that you're never very far away from Siri. This iteration of Siri feels like the AI assistant you'd build if you knew you couldn't screw it up. It supports a pretty basic set of features. It's not out here doordashing your burritos for you, but it actually does. What's Apple advertised for? The company that made big promises of Siri two years ago that never materialized. That's a big deal. It works, and it will actually ship to customers are the two targets that Apple couldn't miss here. It's only in a development beta right now, but it's realer than the first AI Siri was. least the ones shown at WWC before ever were. Apple needs this version of Siri to earn back trust, and based on what I've seen so far, this looks like a small step toward getting that trust back. End quote. Nothing more for you today. Talk to you tomorrow.
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