🚀 Biden give $6.6B to TSMC

Market Overview
Read time 1.4 minutes

Year To Date Performances:

1. The U.S. government, as part of the CHIPS and Science Act, is set to allocate up to $6.6 billion in funding to Taiwan Semiconductor's operation in Arizona, supporting TSMC's ambitious plan to construct three state-of-the-art semiconductor factories in Phoenix, with an overall investment of $65 billion. Additionally, TSMC is eligible for around $5 billion in loans under the same act. Highlighted by Commerce Secretary Gina Raimondo, this initiative underscores the commitment to enhancing domestic semiconductor production capabilities and training a skilled workforce, with an extra $50 million earmarked for worker training initiatives in Arizona. This strategic move has already generated over 25,000 job opportunities and attracted 14 semiconductor suppliers to Arizona, demonstrating the CHIPS Act's pivotal role in reinforcing the U.S. semiconductor sector's resilience and addressing security concerns associated with expansions in certain countries. TSMC plays a critical role in the global supply chain, manufacturing a significant portion of the world's advanced semiconductor chips for major clients like Apple and AMD.

2. Uber Eats is introducing a TikTok-style short-form video feed aimed at enhancing discovery and enabling restaurants to display their offerings more dynamically. Initially rolling out for testing in New York, San Francisco, and Toronto, the feature is set to expand globally in the future. This move positions Uber Eats alongside various platforms that have adopted short-form video feeds in response to TikTok's success, such as Instagram, YouTube, Snapchat, Netflix, and even LinkedIn. The Uber Eats feed will feature videos within carousels on the app, including the homescreen, showcasing content from nearby restaurants to inspire users to try new dishes. According to Awaneesh Verma, Uber Eats’ Sr. Director of Product, early data indicates that the videos boost users' confidence in trying new items by offering insights into the dishes' textures and portion sizes. Unlike traditional social media marketing, these videos are not ads, as Uber Eats is not charging merchants for the content placement. This development is part of Uber Eats' broader efforts to support restaurants through enhanced software tools and a forthcoming new app for restaurant managers, aimed at facilitating business growth and proactive management. With over a million merchants on its platform, Uber Eats continues to innovate in the food delivery service industry.

3. US Legal Forms offers over 85,000 state-specific forms for individual consumers, attorneys, and small businesses. For over 25 years, it has been a trusted source of accurate and up-to-date legal forms for over 3 million satisfied users. Get unlimited access to the largest online library of forms and save 80% with an annual subscription. *

4. Headlines

   1. Another incident on a Boeing 737-800 is causing more issues for the company as they are dealing with numerous plane failures and significant manufacturing delays.

   2. Trump Media’s stock fell 10% on opening day this week.

   _{* This is sponsored content.}

Are you looking to grow your business? Here is how I can help:

📢 Promote your startup to 2,000+ VCs including investors from a16z, YC, Techstars, Rarebreed, Sequoia and more.

📱 Book a Strategy Call to get 1:1 feedback on your pitch, pitch deck and/or fundraising strategy. (If you need general startup advice, then reply to this email, and I’ll let you know if/how I can help.)

📺 Access FundraiseOS, the ultimate fundraising course with video lessons and practical worksheets helping with everything from deciding how much to raise to understanding a term sheet.

💸 Promote your product or service to 100,000+ entrepreneurs.

🌐 Connect with me on LinkedIn or X (formerly Twitter) to get access to new content about startups, fundraising, venture capital, and more every day.

Onwards and Upwards,

Liam Gill