Quick Bites (6/14 - 6/20)

A US Sovereign Wealth Fund?
Sanders has unveiled a bill that would create a public fund backed by 50 percent stakes in large AI firms. The fund would be designed to pay Americans directly each year, with a 5% dividend, the estimated annual payout could top $1,000.

Illinois to Tax Crypto Transfers
Illinois is set to tax crypto transfers at 0.2% starting in 2027, a move that would hit routine wallet moves, withdrawals, and even transfers between your own accounts. Under the new Digital Asset Tax Act (SB3019), the tax applies to the act of moving crypto, not just to profits, so it’s a transactional tax rather than a capital gains tax. Every major centralized exchange that serves Illinois customers will be required to collect and remit the 0.2% tax, meaning users will see a smaller amount arrive in their destination account after each transfer.

MidJourney Explores Hardware
Stepping beyond AI image generation into healthtech with “Midjourney Medical,” a full‑body ultrasonic CT scanner designed to deliver MRI‑like images in about 60 seconds through a spa-like water experience. With a research spa, regulatory progress, and third‑generation custom silicon on the roadmap, the company believes widespread early imaging could realistically avert around 30% of deaths and cut global healthcare costs by up to half.

AI Costs Shifting Budgets
Billions in internal AI costs this year have prompted Meta to institute spending controls, budgets, and usage limits for 6,000 employees. The new AI Gateway platform centralizes tracking and alerts, while the company discourages third-party coding AI. Uber's similar budget disaster, exhausting its 2026 AI coding budget in four months, shows a growing concern across the industry.

Fox Adding Another Streamer
In a streaming shake-up that could reshape the industry, Fox is betting big on Roku's scale and ad tech with a $22B acquisition. The deal merges Fox's sports/news/entertainment content (plus Tubi) with Roku's dominant smart TV operating system and The Roku Channel. While Fox stock sank 24.9% on investor skepticism about dilution, CEO Lachlan Murdoch frames this as the right transaction for video's next decade.

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