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Nike shares dropped more than 10% in premarket trading on Friday as concerns about its performance in China outweighed the company’s earnings beat. Despite posting quarterly earnings and revenue that surpassed Wall Street’s estimates, Nike reported a significant decline in sales in its Greater China market, leading to a 17% drop in revenue in that region. The sportswear giant’s stock movement also reflects the impact of higher tariffs on its business.

CEO Elliott Hill is leading Nike through a turnaround strategy that focuses on regaining growth and market share, as well as investing in wholesale relationships. Hill acknowledged challenges in the China market but remains optimistic about the company’s long-term opportunities in the region. Nike expects modest growth in North America for the fiscal third quarter but anticipates a decrease in gross margins due to tariffs. Despite some weaknesses in its business, Nike highlighted areas of strength and new initiatives, such as the launch of a new footwear platform called Nike Mind. Investors are closely monitoring Nike’s performance in China as it navigates the complexities of its turnaround plan.

Law firms representing Google and Apple have advised employees needing a visa stamp to re-enter the United States to avoid leaving the country due to longer visa processing times. Memos from BAL Immigration Law (representing Google) and Fragomen (representing Apple) have highlighted the unpredictable delays in visa processing and recommended against international travel. The State Department has confirmed that embassies are prioritizing thorough vetting of visa cases over all else, causing disruptions for hundreds of Indian professionals renewing their U.S. work visas.

Holiday shopping has traditionally been a time-consuming task for many, but 24-year-old retail tech CEO Amrita Bhasin found a solution in AI. With platforms like ChatGPT, consumers can now get personalized gift recommendations, compare prices, and discover new brands in a fraction of the time. This shift to AI shopping is expected to drive $263 billion in global online holiday sales this year, with an increase in engagement and revenue per session for retailers.

As shoppers turn to AI assistants for their holiday purchases, major retailers like Walmart, Target, and Etsy are adapting their strategies to be present on these platforms. While the use of AI shopping assistants has proven beneficial for many, some consumers still prefer the traditional browsing experience. Despite challenges in personalization, AI-powered shopping is reshaping the retail landscape and forcing businesses to rethink their strategies to stay visible and relevant in the digital age.

Venture capitalists face the challenge of selling themselves as trustworthy partners to founders and worthwhile investments to limited partners. Leslie Feinzaig of Graham & Walker and Ross Fubini of XYZ Ventures shared their experiences raising their first funds, emphasizing the importance of personal connections, firm values, and favorable terms in partnerships. In a shifting market where founders have more power, choosing the right VC becomes crucial for mutual success.

Feinzaig and Fubini offer practical advice for VCs and founders alike, emphasizing the value of authentic relationships and execution in attracting the right people to work with. As the dynamics of fundraising evolve, strategies such as pitch decks and cold emails may lose some power, but the focus remains on building strong connections and delivering results. New episodes of Build Mode explore these dynamics, providing insights into the evolving landscape of venture capital fundraising.

Waymo, the autonomous driving leader owned by Alphabet, has reached a new milestone with 450,000 paid robotaxi rides per week in the U.S., as reported in a letter from investor Tiger Global. This figure is nearly double the 250,000 rides per week reported in April, solidifying Waymo’s position as a top player in the self-driving industry. The letter also highlighted Waymo’s impressive safety record, being 10 times safer than human drivers according to Tiger Global’s analysis.

Aside from its increased ride volume, Waymo has made significant expansions this year, including launching in additional cities and introducing autonomous driving on freeways. This progress sets Waymo apart from competing companies like Tesla, which has conducted limited self-driving pilots but still relies on human drivers or safety supervisors in their vehicles. With Waymo’s continued growth and innovation, the company remains at the forefront of the autonomous driving industry.

McDonald’s is updating its global franchising standards to focus on ensuring value leadership in its restaurants. Starting January 1, 2026, franchisees will be assessed on how well their pricing decisions deliver value to customers. This move comes as the company aims to attract cash-strapped diners and maintain consistency in value offerings across all locations.

With franchisees running 95% of McDonald’s restaurants worldwide, the company is emphasizing the importance of pricing decisions in providing a consistent and reliable customer experience. The new standards will allow franchisees to bring local insight into their pricing strategies, while also providing support with tools and resources to help them elevate the guest experience. This change aligns with the restaurant industry trend of focusing on value to attract customers, amidst lingering consumer pressures and economic uncertainties.

The New York Times has filed a lawsuit against AI search startup Perplexity for copyright infringement, joining other media outlets in taking legal action against the company. The Times claims that Perplexity is using its content without permission or compensation, even as several publishers are negotiating deals with AI firms. The lawsuit aims to leverage negotiations and ensure that AI companies properly license content to compensate creators and support original journalism. Perplexity attempted to address compensation demands with programs like the Publishers’ Program and Comet Plus, but the Times remains firm in holding the company accountable for using its content without authorization.

The Times’ lawsuit alleges that Perplexity’s AI technology gathers information from websites and databases to generate responses, often replicating or summarizing copyrighted works from outlets like The Times. This unauthorized use of content has caused damage to the Times’ brand and economic viability. This legal battle is not the first for The Times, as the outlet is also suing OpenAI and Microsoft for training AI systems with its articles without compensation. The lawsuit against Perplexity adds to mounting legal pressure on the company, as other media outlets have made similar claims against it.