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The Controversial Bet on AI BookkeepingDespite the collapse of his previous startup, Ian Crosby is taking another shot at building a business out of automating bookkeeping. His new venture, Synthetic, aims to create a fully autonomous AI bookkeeper that can generate accrual-based financials without direct human involvement.The Vision Behind SyntheticSynthetic is designed to revolutionize bookkeeping by eliminating the need for human accountants, a stark contrast to current accounting startups like Xero. Crosby maintains an all-or-nothing approach: "We're not going to release anything that's not fully autonomous. It's that or bust."The startup is currently in the design phase, with Crosby acknowledging that his vision may not yet be technologically possible. The company plans to initially serve only AI and other software startups.The $10 Million InvestmentDespite the challenges and Crosby's troubled past with Bench Accounting, Synthetic has successfully raised $10 million in a Seed funding round led by Khosla Ventures. The round also saw participation from Basis Set Ventures and Shopify CEO Tobias Lütke.This financial backing provides Crosby with the resources to wait for foundational AI models to become more reliable for bookkeeping calculations. "I've raised years of cash, so we can just wait it out," Crosby stated.Learning from Past FailuresKhosla partner Jon Chu defended the investment by explaining his tendency to "run towards controversy a little bit." He cited Parker Conrad's journey from Zenefits to founding Rippling (now valued at $17 billion) as an example of how industry narratives can be misleading.Chu conducted thorough due diligence, speaking with several executives who worked with Crosby after his departure from Bench. According to Chu, they "had fantastic things to say about Ian." This feedback, combined with Crosby's subsequent roles at Shopify and founding of Teal (which was acquired by Mercury), convinced Khosla of his growth potential.The Bench Accounting FalloutCrosby's previous venture, Bench Accounting, famously shut down in 2024 before being "bought for scraps." Crosby maintains he wasn't directly responsible for bringing the company to insolvency, stating he was fired by Bench's board in 2021 after turning down a $250 million acquisition offer from Brex.The board reportedly disagreed with Crosby's strategic direction as the business was bleeding cash, and his executive team was frustrated with his direct leadership style. "He took a big swing, made a few mistakes. That didn't go well," Chu acknowledged about Crosby's tenure at Bench.The Path to Autonomous AI BookkeepingWhile Synthetic's prototype works for a narrow group of users, Crosby remains uncertain how it will scale for a broader customer base. He compared the current state of AI bookkeeping to "a self-driving car that can drive down one street versus the self-driving car that can drive down any street.""We haven't driven down enough streets to know if it's going to crash," Crosby explained, highlighting the technical challenges ahead. Despite these obstacles, the founder remains committed to his vision of a fully automated financial future.

The Lead US President Donald Trump and Chinese leader Xi Jinping discussed the Strait of Hormuz, a critical waterway for global energy supplies, as tensions between the US and Iran escalate. Strait of Hormuz Tensions The Strait of Hormuz has been at the center of rising tensions between the US and Iran, with Tehran nearly closing the waterway since the US-Israeli war on Iran began in late February. The closure has disrupted global energy supplies and raised fuel prices. Key Developments Trump and Xi had a 'good' meeting, agreeing that the Strait of Hormuz 'must remain open to support the free flow of energy'. China opposes the militarization of the strait and any effort to charge a toll for its use. A Chinese tanker transited through the strait on Wednesday, according to shipping data. Escalating Incidents A ship anchored off the United Arab Emirates was seized and taken toward Iran, while another vessel was attacked and sank in renewed escalation on shipping near the strait. Iran's Stance Iran's judiciary spokesperson Asghar Jahangir said the capture of 'US tankers' violating Iranian regulations was being carried out under domestic and international law. Iranian officials reiterated their stance that the waterway will be open for commercial vessels if they cooperate with Tehran's naval authorities. Future Outlook The US and Iran are no closer to agreeing to a peace deal, with Washington seeking Tehran's enriched uranium and Tehran wanting a lifting of sanctions and recognition of its sovereignty over the Strait of Hormuz.

A Landmark Recording of Martinů’s Six Symphonies Deutsche Grammophon’s first full‑cycle release of Bohuslav Martinů’s six symphonies, performed by the Bamberg Symphony Orchestra under Jakub Hrůša, arrives as a red‑letter day for the often‑overlooked Czech master. Hrůša’s Interpretative Vision and the Bamberg Symphony Founded by musicians displaced from Bohemia and Moravia in 1946, the Bamberg Symphony’s heritage aligns with the exile‑born compositions, allowing Hrůša to draw out the “vigorous spirit” of the composer’s homeland. The conductor’s “persuasive guide” balances brisk tempos with meticulous texture, highlighting idiosyncratic elements such as orchestral piano and bristling percussion. Commercial and Critical Context First complete Martinů symphony cycle on a major label. Available on Apple Music and Spotify, expanding digital reach. Recorded with high‑resolution sound, praised for “first‑rate” audio quality. Cultural Significance of Reviving Exiled Czech Works The symphonies, written between 1942 and 1953 and largely commissioned by US orchestras, embody a blend of Czech folk‑like lyricism and modernist rhythmic energy. Their release re‑introduces a “distinctive, eminently likable” repertoire to contemporary audiences, reinforcing the relevance of mid‑20th‑century Czech music. Future Outlook for Martinů’s Catalogue With this high‑profile recording, interest in Martinů’s broader output—chamber music, operas, and film scores—is likely to rise, prompting further reissues and live performances that could cement his place alongside Dvořák and Janáček in the concert canon.

The Lead: A Gritty Coastal Tale Finds Its Voice in AudioBenjamin Wood’s debut novel Seascraper follows Thomas Flett, a 20‑year‑old shank‑worker dredging the North‑West English shoreline. The Guardian’s review praises the audiobook’s evocative narration, which captures the smell of fish guts, the rhythm of low‑tide labor, and Thomas’s secret dream of becoming a folk singer.The Opening Scene Sets a Gritty Coastal ToneThe story begins at five‑in‑the‑morning with Thomas pulling on oilskins, a routine that feels “considerably older” than his years. The reviewer notes how the narrator’s gentle delivery underscores the contrast between the protagonist’s hard‑bitten existence and his yearning for a different future.Audible Length and Production DetailsPenguin Audio released the audiobook, running 5hr 22min.The author, Benjamin Wood, narrates his own work, adding authenticity to the coastal dialect.A pivotal plot point involves an American director, Edgar Acheson, offering Thomas £100 for a guided beach tour.Implications for Regional Storytelling in AudiobooksThis review positions Seascraper as a case study in how localized, labor‑focused narratives can thrive in the broader audiobook market. By foregrounding a centuries‑old profession and a specific English locale, the production challenges the dominance of urban‑centric stories and demonstrates listener appetite for authentic regional voices.Looking Ahead: The Future of Coastal NarrativesAs streaming platforms expand their catalogues, titles like Seascraper suggest a growing niche for maritime‑themed fiction. The Guardian’s endorsement may encourage publishers to invest in more author‑narrated works that preserve dialect and place‑based storytelling, potentially reshaping the audiobook landscape toward greater cultural diversity.

The Lead: Beth Orton's Artistic Philosophy in the Age of AI Beth Orton, the acclaimed British singer-songwriter, has shared her thoughts on the intersection of technology and creativity in a recent interview. While discussing her illustrious career spanning decades, Orton made a striking statement about artificial intelligence's impact on music, expressing skepticism that AI "isn't going to have any beneficial influence on humans." This perspective comes from an artist who has navigated the evolving music industry while maintaining her unique voice and creative integrity. The Creative Journey: From Fear to Finding Her Voice Orton discovered her singing ability in 1989 while experimenting with theater, initially driven by a desire to confront her fear of performing publicly. "My biggest fear was singing in public and I wanted to do something I was afraid of," she recalled. This led her to transform a Rimbaud poem into what she imagined was a blues song, marking the beginning of her musical journey. Her talent was quickly recognized by producer William Orbit, who connected her with a singing teacher and helped launch her career, though Orton still struggles with identifying herself primarily as a musician. The Creative Process: Inspiration meets Craft When asked about her songwriting approach, Orton described a process where inspiration often strikes during everyday moments. "I get inspired and that's why I write. I could be walking in nature or having a conversation and it'll spark something in my head and I'll make notes," she explained. The elements of melody, words, and chords frequently emerge together, followed by the challenging work of refining these initial ideas. "The easy part is the la la la, here's the idea, here's the shape, here's the form, and then it's like: this all came unconsciously, how do I write to that standard consciously?" she noted, highlighting the difficulty of translating inspiration into finished songs. Musical Influences: Bowie's Wake-Up Call One of Orton's earliest musical memories involves hearing David Bowie's "Oh! You Pretty Things" as a child. "Anything he played was fucking loud. Mostly it was raging punk rock, but this one morning that track woke me up – he must have been up all night – and I heard something that made me feel excited for life. I was like: 'Wow, what the hell is that? I wanna find that.'" This experience exemplifies the profound impact that authentic human creativity can have, a theme that resonates with her later skepticism about AI-generated art. Industry Reflections: Authenticity in Commercial Pressures Orton reflected on her career in the music industry, particularly her experience with the album "Central Reservation" in 1999. She expressed discomfort with the pressure to conform to commercial expectations, noting that "it was like: 'Oh, she likes to be remixed. Let's get her remixed up the wazoo and that'll make this work and make it successful.'" This experience highlights the tension between artistic authenticity and commercial pressures that many musicians face, a challenge that AI might further complicate by potentially devaluing human creativity even more. The Economic Reality: Making Music Outside the Mainstream When asked about the financial challenges of being a musician outside the mainstream, Orton acknowledged the difficulties. "It is not easy. I think the lucky break is if you can make music for TV or films. That didn't happen for me and I have had to support a family," she shared. Despite these challenges, she found motivation in her dedication to her craft: "at a certain point it was like, well, there's no going back because I'm not good at anything. I'm useless at everything, but I can make music so I'll just keep doing that and hope for the best." The AI Question: Human Creativity vs. Machine Generation Orton's most controversial statement came when addressing the impact of AI on music: "Yes. It's pretty depressing. I still live in the hope that the real deal is the real deal and that only humans can make art the way humans can. And I think that's really important, spiritually and emotionally and energetically. I sound really hippy, I don't care. If you make music you feel maybe it can have an energetic influence in a powerful, positive way and I just can't see that AI is going to have any beneficial influence on humans." The Future Outlook: Preserving Human Artistry As AI continues to advance in creative fields, Orton's perspective represents a significant viewpoint from an established artist. Her stance emphasizes the irreplaceable human element in creative expression—something that cannot be replicated by algorithms, no matter how sophisticated. This viewpoint raises important questions about the value we place on human creativity in an increasingly automated world and challenges the notion that technology can fully replace the authentic, emotionally resonant qualities of human-made art.

The LeadWirestock, a company that transitioned from stock photography to AI data provision, has secured $23 million in Series A funding to expand its multi-modal data supply business for AI labs. The company now serves six of the largest foundation model makers and has built a platform with over 700,000 artists and designers contributing creative assets.The Creative Data TransformationWirestock previously helped photographers distribute and sell their work on stock photography services like Shutterstock. In 2023, the company pivoted to becoming a data provider, supplying datasets of images, videos, design assets, and gaming and 3D content to AI labs. The platform operates similarly to freelance marketplaces like Fiverr, with artists completing tasks for data collection.Financial Growth and Market PositionThe $23 million Series A round, led by Nava Ventures with participation from SBVP (co-founded by Sheryl Sandberg), Formula VC, and I2BF Ventures, brings Wirestock's total capital raised to approximately $26 million. The company currently has an annual run-rate revenue of $40 million and has paid out $15 million to its contributors. Wirestock employs 60 people and will use the new funding to hire for research, engineering, and product roles.The Creative AI Data Market ExpansionDemand for data supply services is soaring as AI labs compete to enhance their models. Companies like Surge, Scale AI, and Mercor have built billion-dollar businesses on dataset demand, while new startups such as Micro1, Human Archive, and Human Native AI also partner with top AI model makers. Wirestock focuses specifically on providing data for creative use cases like image and video generation, with plans to expand into audio and music modalities.Future of Multi-Modal Data in AI DevelopmentLooking ahead, Wirestock is building enterprise software for AI labs to collaborate on datasets and plans to continue expanding its creative asset offerings. Freddie Martignetti, founder of Nava Ventures, emphasized the importance of multi-modal data for creating more human-like AI systems. As AI models evolve, the availability and quality of diverse training data will remain critical differentiators in the competitive AI landscape.

The Attack on Kyiv A devastating drone attack carried out by Russian forces hit an apartment block in Kyiv during a declared ceasefire. The incident has been widely condemned and has sparked fears of further escalation in the conflict. Ceasefire Breach and Casualties The drone attack occurred despite the existence of a ceasefire agreement, which is meant to protect civilians and facilitate humanitarian aid. Reports indicate that the attack resulted in multiple casualties and significant damage to the apartment block. Humanitarian Concerns and International Reaction The attack has raised serious concerns about the humanitarian situation in the region and the ability to maintain ceasefire agreements. The international community has been urged to take action to prevent further violence and protect civilians. Escalation Fears and Future Implications The breach of the ceasefire and the targeting of a residential area have heightened fears of further escalation in the conflict. The situation remains volatile, with ongoing concerns about the safety of civilians and the potential for additional attacks. Investigation and Response An investigation into the circumstances of the drone attack is likely to be conducted. The response from the international community and the impact on diplomatic efforts to resolve the conflict will be closely watched in the coming days.

Evika Silina said on Thursday that she is stepping down as prime minister, but she will not abandon her political mission. The resignation follows the Progressives Party’s loss of confidence after Defence Minister Andris Spruds quit over mishandled drone incursions that raised questions about Latvia’s air‑space security.Resignation Triggered by Coalition Collapse Over Drone MishandlingThe Progressives, Latvia’s left‑leaning coalition partner, pulled their support on May 7 after two suspected Ukrainian drones entered Latvian airspace, one crashing into a fuel storage facility. Silina’s televised statement cited the “failed promise of safe skies” as the catalyst for the government’s loss of majority.Numbers Highlighting Drone Intrusions and Political FalloutTwo Ukrainian drones entered Latvia on May 7, one causing material damage.Similar incursions have been reported across the Baltic states since March 2024.Latvia’s parliamentary elections are scheduled for October 2026.President Edgars Rinkevics must convene party leaders by Friday to begin the appointment process.Implications for Latvia’s Security Policy and Upcoming ElectionsThe incident exposes gaps in regional air‑defence coordination and fuels public criticism ahead of the October vote. Opposition parties are likely to press for a stronger NATO‑aligned defence posture, while the ruling coalition risks fragmentation.What Comes Next for Latvia’s Government and Regional Defense CoordinationPresident Rinkevics will meet with parliamentary factions to identify a successor who can restore confidence in the defence ministry. Ukraine’s foreign minister Andrii Sybiha has offered assistance, suggesting that Russian electronic‑warfare may be diverting drones, a claim that could shape future bilateral security talks.

Profit Collapse Highlights JLR’s Turbulent YearJaguar Land Rover, Britain’s largest carmaker, posted an annual profit of £14m before tax and exceptional items for the year to March 2026, a decline of more than 99% from the £2.5bn recorded the previous year.US Tariffs and August Cyber‑Attack Cripple ProductionThe downturn was driven by two major shocks:US automotive tariffs raised by former President Donald Trump to 25% before a deal reduced them to 10%, slashing demand for JLR’s luxury models in its key export market.A sophisticated cyber‑attack on 31 August forced the shutdown of most factory systems for weeks, extending disruption into the autumn.Both events hit revenue, which fell to £22.9bn, a drop of over 20% year‑on‑year.Financial Fallout: £14m Profit vs £2.5bn Prior YearKey financial metrics illustrate the severity of the hit:Profit before tax and exceptional items: £14m (2026) vs £2.5bn (2025).Cash burn: £2.2bn spent on the cyber‑attack response and new model investments.Liquidity: £6.9bn of available cash remains to support operations.Broader Implications for UK Automotive SectorThe episode highlights systemic risks for the UK auto industry:Reliance on the US market makes manufacturers vulnerable to sudden policy shifts.Increasing cyber‑threats expose the fragility of highly automated production lines.Intensifying competition in China adds pressure on export‑oriented brands.JLR’s 33,000‑strong UK workforce and its plants in Solihull, West Midlands, and Halewood, Merseyside, face heightened scrutiny from investors and policymakers.Outlook: New EV Launches and Recovery StrategyNew chief executive PB Balaji, appointed weeks after the hack, signalled a turnaround plan:Launch of the delayed Range Rover Electric (now slated for March 2027).Introduction of smaller electric SUVs and the new Jaguar EV, dubbed Type 01.Focus on restoring production levels, which rebounded in the fourth quarter.While short‑term challenges remain, JLR’s cash cushion and upcoming electric models position it to regain market confidence and mitigate future geopolitical or cyber disruptions.