MY TAKE
First week of 2026 and we already have drama. As always, if you don’t want to read EVERYTHING, this opinion section should be enough.
This was the week of the rush. Meta buying an 8-month-old startup for 2 billion. In 10 days. Ten days to close a 2 billion deal. I still can’t believe it.
And the Apple situation surprises me a lot too. Their head of artificial intelligence “retires” after Siri remains a disaster. They promised it for 2024, delayed it to 2025, and now they say spring 2026. And the guy who was in charge leaves with a six-month transition as an “advisor.” Sounds like they fired him but they’re paying him not to talk…
What I do see is that the big tech companies are desperate not to fall behind in artificial intelligence. Meta bought five AI companies in 2025. Apple is hiring people from Google and Microsoft because their own team looks like amateur hour. And everyone wants to solve the energy problem before the chips eat the ENTIRE power grid.
And watch out for the Chinese, who are launching 21 billion state funds to finance “hard” tech startups. Semiconductors, quantum computing, robotics. The Chinese government has decided that if private money won’t invest in Chinese technology, the state will.
And here we are, still arguing about who has the best chatbot — Claude this, OpenAI that…
Keep an eye on the 2-nanometer technology that has entered production at TSMC….
Happy new year, dear reader. The newsletter continues in 2026, but I need you to share it more.
I’m counting on you.
THE BOMBSHELL OF THE WEEK
Meta buys Manus for 2 billion in 10 days
On December 30, Meta closed the acquisition of Manus, an artificial intelligence startup. It paid more than 2 billion dollars. But the strange part isn’t the price. The strange part is that the whole process took 10 days.
The story in simple terms: Manus is a startup founded in China that moved to Singapore. It’s 8 months old. Three months ago it raised 75 million in funding, at a 500 million valuation. Meta paid four times more.
Why it matters: When you pay four times what something is worth after 8 months, you’re either crazy or you know something the rest don’t. Meta believes the window to buy AI talent is closing. And it’s buying everything it can before it’s too late.
The data point nobody mentions: It’s the fifth artificial intelligence company Meta has bought in 2025. PlayAI, WaveForms, Rivos, Limitless, and now Manus. Zuckerberg is in “buy or die” mode.
The China angle: Meta forced Manus to shut down all its operations in China and eliminate any connection with Chinese investors. Tech geopolitics is no longer theory. It’s a requirement for closing deals.
The lesson for founders: If you have an AI company that works, 2026 could be your year to sell. The big players are paying outrageous sums because they’re afraid of being left out.
POWER MOVES
Apple’s head of artificial intelligence is leaving
John Giannandrea, who ran Apple’s entire artificial intelligence and machine learning strategy, “retires” in spring 2026.
What actually happened:
- 2024: Apple promises Siri will get smart with “Apple Intelligence.” They delay it.
- March 2025: They take Siri away from him.
- April 2025: They take robotics away from him.
- December 2025: They announce he’s “retiring.” With a six-month transition as an advisor.
The translation: They fired him but they’re paying him to keep quiet. Bloomberg sums it up as “a turbulent tenure that included a failed entry into generative AI.”
The replacement says it all: They’ve hired Amar Subramanya, who comes from Microsoft and Google. Apple is importing talent from the competition because its own people haven’t delivered.
My read: When an executive stays on as an “advisor” for six months before leaving, it’s because the company needs to control what he says. Apple has a big AI problem and doesn’t want anyone to know how big.
Silicon Valley turns on Ro Khanna over a wealth tax
The Silicon Valley congressman backed a bill to impose a 5% tax on those worth more than 1 billion dollars. The reaction was immediate.
Who’s threatening to leave California:
- Peter Thiel: Looking for offices outside California for his fund.
- Larry Page (Google co-founder): Plans to reduce his ties to California before year-end.
- Garry Tan and other investors: Threatening to fund a rival to Khanna in the next election.
The real problem: The tax would be on unrealized wealth. Meaning if you’re the founder of a startup worth 2 billion on paper but you haven’t sold anything, you’d have to pay taxes without the liquidity to do it.
The twist: Khanna doubles down. He says it’s “absurd” to think anyone would stop building companies over a 1-2% tax. And then proposes investigating tax fraud to calm his donors.
MONEY TALKS
China launches 21 billion in state funds for technology
On December 26, Beijing announced three government venture capital funds, each with more than 7 billion dollars. Goal: finance “hard” tech startups.
The sectors: Semiconductors, quantum computing, advanced manufacturing, artificial intelligence, biotechnology, aerospace.
The rules that matter:
- They only invest in startups worth less than 70 million dollars.
- Maximum 7 million per startup.
- Early stages only.
Why it matters: American funds are now competing against a nation-state with infinite money. China has decided technology is too important to leave to the market.
South Korea launches its “Super-Gap 2026” program
Applications opened on December 29. They offer 900,000 dollars per startup over 5 years. Goal: 120 deep tech startups.
The sectors: AI, semiconductors, quantum computing, robotics, fusion energy, mobility.
The lesson: Asia is outspending the United States on fundamental technology. While Silicon Valley builds “AI apps,” Asia is betting on the foundations.
The startup secondary market breaks records
Shares of private startups are trading more than ever. But at a discount.
The data point: On average, tech startup shares sell at a 29% discount to what they’re supposedly worth. If a company says it’s worth 100, you can actually sell your shares for 71.
Why it’s exploding:
- There are no IPOs.
- Founders need money and can’t wait 10 years.
- Investment funds are pushing to get their money back.
The new normal: Secondary markets have gone from “plan B” to the primary way of getting liquidity.
PRODUCT SECRETS
OpenAI prepares an audio model for the first quarter
Expected date: Before the end of March 2026.
What has leaked:
- More natural responses with more emotion.
- It can talk while you’re talking (the current model can’t).
- Better handling of interruptions.
- Completely new audio architecture.
The hardware plan: They’re working with Jony Ive (the iPhone’s designer) on a personal device. Foxconn will manufacture it in Vietnam, not China.
The vision: “An ambient computing layer.” Access to AI without looking at a screen. “Truly personal AI.”
The trend: At least two companies are building AI rings (one from the founder of Pebble). The race for screenless devices has begun.
China’s “Six Little Dragons” prepare to go public
Hangzhou, China’s Silicon Valley, has several startups preparing Hong Kong listings:
- Manycore: Spatial intelligence (founded by a former Nvidia engineer).
- Unitree Robotics: Humanoid robots (263 million in funding).
- Deep Robotics: Physical AI.
- DeepSeek: ChatGPT competitor.
- Game Science: Video games.
China’s advantage: Electricity costs less than in the United States. That means training AI models cheaper.
REAL NUMBERS
The layoffs continue, but quietly
Week of December 27: 199,000 Americans filed for unemployment benefits.
2025 in total: 716 layoff events at tech companies, 209,838 people affected. About 583 per day.
The most recent:
- IBM: “A low single-digit percentage” globally. Probably more than 2,700 people out of 270,000 employees.
- Microsoft: About 6,000 workers, 3% of the workforce. The biggest layoffs since 2023.
- Synopsys: 2,000 employees during 2026.
- Amazon: 84 positions in Seattle/Bellevue.
- Lilium: About 1,000 employees. The company shut down after failing to raise funding.
The Nasdaq starts 2026 with doubts
January 2, 2026 (first trading day):
- The Nasdaq rose 1.3% in the morning but extended its losing streak to 5 sessions. The longest in more than a year.
- Nvidia: +3.0%. It has a backlog of orders worth 500 billion.
- AMD: +5.9%. Positioning itself ahead of its CES presentation.
- TSMC: Its 2-nanometer technology enters mass production. All capacity is booked through the end of 2026.
The problem: The S&P 500’s tech stocks trade at more than 27 times expected earnings. With interest rates uncertain, high valuations suffer.
VALLEY DRAMA
“My 2026 resolution: stop being loyal”
A viral Blind post from a tech worker summing up 2025:
- Forced back to the office five days a week during a family health crisis.
- A “strong” performance rating but a laughable raise.
- His team vanished in a restructuring.
- Expecting another layoff in January.
His resolution: “2026 is the year I choose myself. No more faking loyalty while the company restructures every quarter.”
Why it matters: This sentiment is everywhere on Blind and Glassdoor but doesn’t make the press. The “loyalty contract” between tech employees and companies is dead.
Instagram mandates five days back in the office
Meta has ordered Instagram workers in the United States back to the office five days a week. Starting February 2026.
These aren’t layoffs. But it’s strategic pressure. Who can’t move close to the office? Departures without severance.
Context: Meta made 5% performance-based cuts in February 2025. This is the continuation of the “cultural reset.”
Glassdoor is now useless
Blind users are calling it out: “HR teams inflate Glassdoor ratings with fake reviews, especially small companies with toxic cultures.”
The discrepancy: Companies with 4.5 stars on Glassdoor have 2.8 on Blind. The difference is that Glassdoor has weak verification.
The shift: Tech employees are moving to Blind for “real information.” Glassdoor is becoming a public relations tool.
AI model launches expected in the first quarter
- Claude 5 full version: Expected February 2026.
- Gemini 3.0 for enterprises: First quarter 2026.
- OpenAI’s audio model: Before the end of March 2026.
TechCrunch’s prediction: “In 2026, AI will move from hype to pragmatism.” Agent workflows will go from demos to real production.
Thanks for reading me.
Onward.