Software from an iPhone prototype running an early build of iOS 26
leaked last week. Some of the features include Vision Pro
stickers


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TLDR

TOGETHER WITH [Material Security] [4]

TLDR 2025-12-16

DOES YOUR EMAIL SECURITY PROTECT YOUR FILES AND ACCOUNTS, TOO?
(SPONSOR) [4]

Today's attacks aren't targeting the inbox alone: sophisticated
attackers bypass perimeter defenses entirely with stolen credentials
or abused OAuth tokens. Your emails [5], files [6], and accounts [7]
can be accessed without triggering email security systems, EDR
systems, or most other security tools.

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the cloud workspace, providing robust phishing and inbound threat
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¨

BIG TECH & STARTUPS

EARLY IOS 26 SOFTWARE LEAK UNCOVERS DOZENS OF UPCOMING APPLE FEATURES
(5 MINUTE READ) [8]

Software from an iPhone prototype running an early build of iOS 26
leaked last week. This article lists the most notable feature flags
found in the software code. The list shows what Apple was working on
around June. Some of the features include Vision Pro stickers, Live
Captions, Tilt to Scroll, and a Dynamic Sports Tier Manager.

PAYPAL APPLIES TO ESTABLISH BANK (3 MINUTE READ) [9]

PayPal has filed with the Utah Department of Financial Institutions
and the Federal Deposit Insurance Corp. to establish PayPal Bank. As a Utah-chartered industrial lone company, the bank will be able to lend
money, hold FDIC-insured deposits, and be owned by a non-financial
institution. The proposed bank would help make PayPal's lending to
small businesses more efficient, as it would reduce reliance on third
parties. PayPal also plans to offer interest-bearing savings accounts
to customers through the proposed bank.

¨

SCIENCE & FUTURISTIC TECHNOLOGY

ECONOMICS OF ORBITAL VS TERRESTRIAL DATA CENTERS (35 MINUTE READ)
[10]

The economics of putting data centers in space are savage. While it
is theoretically possible, it's definitely not a sure thing. Only one
company, SpaceX, is positioned to even try due to its vertical
integration - having to buy launches, buses, hardware, deployment, and
pay margin at every interface will kill any other attempt. While
building this infrastructure may be a mediocre trade on strict
near-term unit economics, the second-order effects could be enormous.

TESLA STOCK CLOSES AT 2025 HIGH AFTER MUSK CONFIRMS DRIVERLESS
ROBOTAXI TESTS UNDERWAY IN AUSTIN (5 MINUTE READ) [11]

Tesla is now testing driverless vehicles in Austin, Texas. The
company still hasn't announced when it will be able to operate a
ride-hailing service without human safety supervisors or drivers on
board. Texas will require authorization from the DMV for commercial
use of self-driving vehicles starting in May 2026. California's DMV
and Public Utilities Commissions say that Tesla has yet to apply for
the permits needed to conduct driverless testing in the state without
a human at the wheel, or to operate a commercial robotaxi service.

¨

PROGRAMMING, DESIGN & DATA SCIENCE

FIRECRAWL - THE WEB DATA API FOR AI (SPONSOR) [12]

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endpoints. Firecrawl [13] handles the infrastructure like rotating
proxies, JavaScript rendering, rate limits, and caching so you can
focus on building.

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PART 2: DESIGN IS A SEARCH FOR THE OPINIONS (4 MINUTE READ) [14]

The deeper someone gets into a field, the more specific their tools
get. Experts don't just use generic items. This applies to software as
well. Everything in software is opinionated. The work is in choosing
which opinions to embed and where to design something meaningful
without dissolving into blandness.

CLOUDFLARE RADAR 2025 YEAR IN REVIEW (20 MINUTE READ) [15]

The Cloudflare Radar 2025 Year in Review looks at Internet patterns
and trends observed through Cloudflare's global network. It is
organized into six sections: Traffic, AI, Adoption & Usage,
Connectivity, Security, and Email Security. This page presents an
interactive view of the data.

¨

MISCELLANEOUS

NETFLIX CEOS SEEK TO REASSURE STAFF ABOUT WARNER BROS. DEAL (3 MINUTE
READ) [16]

Netflix doesn't plan to close any studios after its bid for Warner
Bros. streaming and studio businesses. The battle for Warner Bros. is
expected to face stiff regulatory scrutiny. Paramount has launched a
hostile bid and may propose an even higher bid. Netflix is committed
to releasing Warner Bros. movies in theaters if its bid is successful.


LIAR'S VALUATION (20 MINUTE READ) [17]

Startups are raising money without really understanding what it all
entails. This post was written to clear up a lot of the terms so
people understand what they are signing up for. It covers how startup
equity mechanics get manipulated, so people considering joining
startups know exactly what they're getting into. Time is the only
asset you can't make more of, so you should know what you are trading
it for.

¨

QUICK LINKS

REACH REAL BUYERS IN TLDR INSTEAD OF FIGHTING FOR ATTENTION ON SOCIAL (SPONSOR) [18]

TLDR puts you in front of 6+ million tech professionals with almost
no competition. Learn more [18] about running a test campaign.

WHAT'S NEXT FOR TIKTOK IN THE US AS DEAL PROSPECTS REMAIN UNCERTAIN?
(3 MINUTE READ) [19]

The Trump administration had previously claimed that a TikTok deal
was done, but neither TikTok, ByteDance, nor China has announced the
approval of a sale.

THE FUTURE OF PREDICTION MARKETS LIVES IN GROUP CHATS (12 MINUTE
READ) [20]

Protocols like XMTP allow builders to deploy mini-apps and agents
without permission, turning group chats into a new type of app store.

CEOS TO KEEP SPENDING ON AI, DESPITE SPOTTY RETURNS (3 MINUTE READ)
[21]

68% of CEOs plan to increase AI spending in 2026, despite less than
half of current AI projects generating more returns than they had
cost.

YES, AGI CAN HAPPEN - A COMPUTATIONAL PERSPECTIVE (22 MINUTE READ)
[22]

Today's models are nowhere near the compute or efficiency ceilings of
the hardware, and there's at least an order of magnitude more
computation available.

IDEAS AREN'T GETTING HARDER TO FIND (23 MINUTE READ) [23]

Ideas remain as discoverable as ever, it's just that there's a flaw
in the markets that prevents that creativity from being rewarded
economically.

COREWEAVE'S STAGGERING FALL FROM MARKET GRACE HIGHLIGHTS AI BUBBLE
FEARS (9 MINUTE READ) [24]

CoreWeave has seen $33 billion of value vaporize in six weeks.

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Thanks for reading,
Dan Ni [31] & Stephen Flanders [32]

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[9] https://links.tldrnewsletter.com/8cMz79
[10] https://andrewmccalip.com/space-datacenters?utm_source=tldrnewsletter
[11] https://www.cnbc.com/2025/12/15/tesla-tests-driverless-cars-in-austin-without-humans-on-board.html?utm_source=tldrnewsletter
[12] https://www.firecrawl.dev/pricing?via=adops&dub_id=B6CoJvwyC7cP694k&utm_source=tldrnewsletter
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[19] https://www.bbc.com/news/articles/cp34442z25ko?utm_source=tldrnewsletter [20] https://blog.shanemac.com/the-future-of-prediction-markets-lives-in-group-chats/?utm_source=tldrnewsletter
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[22] https://danfu.org/notes/agi/?utm_source=tldrnewsletter
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