Making

• Israeli identity management startup Oak has emerged from stealth mode after securing $60 million in seed funding. • Co-founded by serial entrepreneur and former army major Shai Morag, the company aims to replace manual, operations-based identity processes with risk-based triggers. • The solution addresses security gaps created by AI agents and anomalies, such as employees logging in from unusual locations.

• The European Union is initiating an overhaul of its lawmaking process to implement simpler regulations and integrate more advanced technological tools. • Experts warn that the initiative may fail due to vague implementation timelines, broad loopholes regarding "urgency," and significant understaffing in capital cities. • This modernization effort matters as the EU struggles to keep pace with rapid technological shifts and the need for more efficient governance.

• Stock futures rose Wednesday, driven by gains in technology shares and a positive sales outlook from chip-equipment maker ASML due to surging AI demand. • PayPal shares also jumped following reports of a potential takeover, adding to the bullish momentum in the tech sector. • Federal Reserve Chair Kevin Warsh testified before the House Financial Services Committee on Tuesday, emphasizing the central bank's independence from political influence.

• Palantir CEO Alex Karp warned in an interview with Axel Springer CEO Mathias Döpfner that AI is creating a widening wealth gap in the United States. • Karp argued that the primary financial gains from AI are currently concentrated among those developing the technology, rather than being distributed across society. • This growing economic inequality is described by Karp as "America's biggest problem," suggesting that the technology is being oversold as a universal benefit.

• The U.S. House of Representatives is preparing to vote on a proposal to make daylight saving time the permanent year-round standard. • This legislative effort seeks to eliminate the biannual process of "springing forward" and "falling back" for clocks across the country. • The move matters as it aims to provide consistency in scheduling and potentially improve public safety and energy usage by maintaining more sunlight in the evenings.

• Oxford University has launched Phase 1 human trials for a new Ebola vaccine targeting the Bundibugyo strain, supported by CEPI. • The Serum Institute is producing over 620,000 doses, with the trial beginning just 57 days after the WHO declared the outbreak a Public Health Emergency of International Concern. • This rapid development marks one of the fastest responses to an emerging infectious disease, aiming to curb the spread of the rare strain.

• Global deal-making has surged to $3.2 trillion in the first six months of the year, marking the highest spending period in a decade. • The boom is primarily driven by the AI economy, with 44 massive deals exceeding $10 billion, including both corporate takeovers and private market fund-raising. • This trend highlights a significant concentration of wealth and power among large companies capable of financing high-cost AI infrastructure and acquisitions.