Good morning from OWITH.ai: the podcast that gives you only what's important to hear in AI and tech world.Pillar VC has raised a $175 million fourth venture fund focused on the Boston tech ecosystem, with a unique approach of mining Boston's rich fabric of university research for investments. The firm, founded in 2016, finds about three-quarters of its deals in the Boston area and serves as a bridge between academia and industry. Pillar has $500 million of assets under management and has generated returns for its investors through recent exits. The firm's network of "pillars," executives with ownership stakes in the firm, help serve as advisors. The latest fund is the largest yet for Pillar, and the firm is preparing to start investing from it after making the final investment from its third fund.Transitioning to the next news, Tesla's Cybertruck is facing delivery halts due to metal paneling falling off, raising concerns about the vehicle's build quality. Baidu has introduced the Ernie X1 AI reasoning model, aiming to compete with DeepSeek R1 at a lower cost. Apple is set to support encrypted RCS messaging, allowing for secure communication between iPhone and Android users. Other updates include details on the iPhone 17 "Air," Bobby Kotick suing Kotaku publisher, Microsoft's investment in quantum research, and Etsy and eBay using social media tactics to boost sales. The tech industry is buzzing with developments and challenges across various sectors.Moving on, President Trump's trade wars have caused CEOs to worry about the economy, with some predicting a recession. Consumer sentiment is deteriorating, and Treasury Secretary Scott Bessent is trying to prevent a financial crisis. UBS has cracked down on remote work, requiring employees to return to the office three days a week. Goldman Sachs predicts that AI will impact the labor market by 2027. The S&P 500 rebounded after a 10% drop, and the VIX indicates lower volatility. Analysts from Goldman Sachs, Convera, and EY are focused on the Fed's potential impact on consumer and business confidence. Wedbush remains optimistic about Apple's growth despite a recent sell-off. In other news, Warren Buffett is hoarding cash in anticipation of market movements, China is benefitting from ongoing trade wars, and gold prices are hitting record highs.That's all for today's update in the AI and tech world. Thank you for listening to OWITH.ai podcast.

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