This is Not as Bad as it Looks

Josh and Ejaaz recap major AI and tech stories: Snap's disastrous AR glasses launch, G7 AI governance tensions, Noam Shazir's defection from Google to OpenAI, the Fable 5 shutdown, Microsoft adopting a Chinese open-source model, Meta's AI implosion, a strong new Chinese coding model, and MidJourney's pivot into medical MRI hardware. The clear market takeaways are bearish views on Google (talent drain) and Meta (failed AI spending), while Snap's product flop and DeepSeek's rise are noted but lack direct tradeable expressions. - Snap unveils $2,200 AR glasses that look ridiculous and face market rejection. - G7 summit sees AI lab leaders plead for US-led global AI governance. - Noam Shazir, the 'father of transformers,' leaves Google DeepMind for OpenAI. - Anthropic's Fable 5 banned by US government over adversary access fears. - Microsoft shifts Copilot to Chinese open-source model DeepSeek, signaling rift with OpenAI. - Meta’s $35bn AI reorg declared a disaster; company seen losing AI race. - Chinese lab Chipu releases GLM 5.2, matching frontier coding benchmarks. - MidJourney enters healthcare with a 60-second full-body MRI device.