GM. This is Take Off. We're like a winning scratch-off ticket you find in your pocket - thrilling, full of potential, and making your day just that much better.

Here's what we're serving up today:

• Twitter’s getting a new Boss! 👩‍💼🐦

• Softbank’s blurry “Vision” Fund 👓☁️

• Asteroids ☄️

• Futuristic Fridays 🔮

Twitter’s getting a new Boss! 👩‍💼🐦

Our favorite billionaire, part-time Martian aspirant, and full-time controversy magnet, Elon Musk, has declared he's passing the CEO baton.

And not surprisingly, he did the big reveal in typical Musk style - a cryptic tweet. Thankfully Elon is serious this time around and not appointing his dog as the CEO, again!

Though he has kept us on the edge of our seats by not naming the new boss, the word on the street is it’s Linda Yaccarino, an ad exec from NBC Universal.

Now, don't fret, Musk isn't disappearing into the ether. He's just switching hats to be the executive chair and chief technology officer.

However, one can definitely agree that Musk's Twitter/X tenure has been as smooth as a jackhammer at a pottery class.

• Major advertisers hitting pause, the blue tick shenanigans and so much more. Musk made being "Chief Twit" (his words, not ours) quite the spectacle!

• The cherry on top? A poll he ran asking if he should step down as Twitter CEO, to which the universe responded, "Yes please!". Elon may be a lot of things but atleast he isn’t a promise-breaker!

Now, while juggling electric cars, space rockets, brain implants, and tunneling machines (did we forget any?), it's worth pondering if Musk's multi-CEO status was a case of biting off more than he could chew.

The news turned heads over at Wall Street as well especially within the Tesla Investor Gang.

• Tesla stock prices have literally been doing a bungee jump falling from a high of $310 to a mere $108 and then shooting back up to $170.

• The news did delight Tesla investors as (NYSE:TSLA) was trading +2% higher when the markets closed. 

They’re finally happy that Elon can go back to giving his attention to Tesla and keep breaking more *unbreakable* Cybertruck windows!

Softbank’s blurry “Vision” Fund 👓☁️

This juicy byte comes from the Land where the sun rises but unfortunately not Softbank’s profits, which posted a quarterly loss of $430M in yesterday's earnings call.

Picture this: It's half a decade ago, and Son is the tech world's golden boy. He's launching the Vision Fund, a $100 billion behemoth backed by enough Gulf region sovereign wealth to make any other oil sheik blush.

This was back when the economy was sunnier than a California beach and Son was splashing money at start-ups like champagne at a rapper's birthday party.

Fast forward to the present day and The Vision Fund, which once held high hopes and even higher investments in the likes of WeWork and FTX has just reported a loss that makes the Grand Canyon look like a pothole - a whopping $32 billion.

What happened, you ask?

• The economy decided to throw a temper tantrum.

• Interest rates soared.

• Europe was in turmoil.

• The world seemed to be finally sobering up from its tech-obsessed stupor.

Sadly, playing defense hasn't stopped SoftBank from taking a beating. The company, which once symbolized the opulence of the tech boom, is now feeling the sting of a market correction.

But Softbank isn’t backing down. It’s actually doing a complete flip and going back on the offense. And we are with them because if you’re going to burn cash, at least do so while being aggressive.

• SoftBank's got some serious heart-eyes for ChatGPT now. Goto, the company’s CFO, spent a good chunk of his presentation singing its praises.

• To finance this AI raid, SoftBank has been emptying out its Alibaba piggy bank. Yep, they're waving goodbye to one of the most successful investments in CEO Masayoshi Son's career. (link)

The billion-dollar question now is: Will Son rise like a phoenix from the ashes of his Vision Fund, or is this the end of his 300-year dream?

☄️ Asteroids ☄️

Disney+ Hotstar is going through a bit of a rough patch, losing 4.6M subscribers and facing reduced revenue! Guess no more cricket or HBO equals fewer fans! 📉🏏🍿

Meta's Sandbox Play. Meta's introducing an AI Sandbox for ad magic: copy variation, background creation, and image cropping. It's exclusive now, but expect a July party! 🎉🤖🗓️

Claude's Memory Makeover. Anthropic is supercharging Claude, its AI, with an impressive memory upgrade to remember 100,000 tokens! It's a game-changer, so watch out, GPT-4! 🏆💾🧠

🔮 Futuristic Fridays 🔮

OpenAI's Sam Altman proposes we shift our attention from cultural disputes to developing a super-intelligent AI. His grand plans include solving fusion energy, curing diseases, and even enabling interstellar travel, despite existing AI quirks 🧠🚀

Vast is gunning to launch the first commercial space station by August 2025, with SpaceX as its ride! Given the tight timelines, it's like the ultimate space race reality show, with Bezos and Axiom biting their nails. 🏁🛰️

Japanese robotics company Jizai is channeling their inner Doc Ock, creating an 'Arms' system for an extra pair of robotic limbs. It's less about lifting cars, more about social interaction. Cyborg dance-off, anyone? 💃🤖

That’s it from us today folks! If you liked what you read today, please do read the message from our loving and hard-working team below:

“ We all crave the essentials in life - food 🥑🍕, shelter 🏠, and clothing 👕🩳- and we're no exception! Our must-haves? An ever-growing squad of adoring subscribers like you and for more of those lovely subs, we're counting on you to spread the word! So, blast that newsletter across the universe! ”