Plus Uber, Netflix, and Sun Valley.
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Trump Lashes Out at NATO Allies, Further Straining Tense Relations
  • The president kicked things off by calling Germany a "captive of Russia" for using its oil and gas. He then went on to demand NATO members double their contributions for defense spending to 4 percent of GDP. 
  • His aggressive stance comes just over a month after he slapped tariffs on European aluminum and steel. 
  • “The tone that Trump has brought, on the back of trade frictions, has really brought the transatlantic alliance to the lowest point,” said Joshua Meltzer, senior fellow of global economy and development at the liberal-leaning Brookings Institute.
  • Cheddar's J.D. Durkin was in Brussels to catch all of the action. Tune in for more live coverage tomorrow. 
 
TOP VIDEOS
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Uber Exec's Departure Signals New Standard of Corporate Accountability
Chief People Officer Liane Hornsey resigned on Tuesday after allegations she mishandled complaints about racial discrimination. It could be a sign that companies are starting to take sensitive issues more seriously, said Quartz Senior Reporter Oliver Staley.
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Former Netflix Exec: Personalization Crucial to Company's Success
Even when the company just rented out DVDs, it tried to customize choices for users, says Gibson Biddle, former VP of product at the streaming giant. That strategy still drives many of Netflix's decisions today, including what kind of content it spends money on.
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Rupert Murdoch's Fox Outbid in Battle for Sky
Comcast swooped in Wednesday evening with a higher offer for the British broadcaster. The uber-active merger landscape in the media industry was front-and-center at the annual Allen & Co. conference in Sun Valley, Idaho. Cheddar’s Alex Heath caught up with industry heavyweights at the event.
 
ON THE GROUND IN SUN VALLEY...
​​Photo Credit: Rob Latour/Shutterstock
Alex Heath is attending the annual Allen & Co. Sun Valley Conference this week in Idaho, where some of the biggest names in media and tech, including Y Combinator president Sam Altman (above), are gathering. Here's a look at what went down on Wednesday.
DAY 2 @ ​SUMMER CAMP FOR BILLIONAIRES ​​
It’s the first full day of the Allen & Co. conference in Sun Valley, where the world’s foremost business and tech leaders are meeting to network and discuss deals. It’s safe to say that no other event on earth draws this many high-level executives. In attendance are Amazon CEO Jeff Bezos, Apple CEO Tim Cook, Facebook CEO Mark Zuckerberg and COO Sheryl Sandberg, Alphabet CEO Larry Page, Snap CEO Evan Spiegel, Twitter Executive Chairman Omid Kordestani, Spotify CEO Daniel Ek, Sony Chairman Kaz Hirai, SoFi CEO Anthony Noto, and many, many more.

Part of what Allen & Co. does at this event is program onstage talks for attendees each day. And the topics range widely. One of Wednesday morning’s sessions was an educational look at cryptocurrency and blockchain technology, and I’m told that there will be one on the cannabis industry later this week. Attendees were also treated today to off the record talks with Bezos, Zuckerberg, IAC Chairman Barry Diller, Michael Bloomberg, and Activision CEO Bobby Kotick. Any of these names would be the headline speaker at most other conferences, but this is Sun Valley.

Unofficially attending the event as part of the media is strange, because you constantly come into close contact with the most powerful executives in the world. But most don’t want to talk, and even informal exchanges are usually treated as off the record. But you do get a sense of what’s on the minds of these moguls, and the big theme this year is one word: consolidation. There’s lots of it in the media space, with Disney and Comcast both fighting for 21st Century Fox, CBS and Viacom in a tussle over potentially combining, and everyone else looking at what media assets they can either sell or scoop up.
 
 
FEATURED HEADLINES
DISNEY WHIPS UP A BLIZZARD​ 
Walt Disney on Wednesday entered a multiyear partnership with Blizzard Entertainment for live coverage of the Overwatch League, starting with the current esports competition that wraps on July 28 at New York's Barclays Center. Read more at Seeking Alpha.
BLUE BIRD TO PREEN FOLLOWERS​
Twitter on Wednesday announced it will remove accounts it had previously flagged for suspicious behavior, a move that could reduce follower counts by around 6 percent across the platform. “We believe accuracy and transparency make Twitter a more trusted service,” the social media network said in a blog post. Read more at the Wall Street Journal.
AT&T TAKES A MAGIC LEAP
The mobile carrier announced on Wednesday that it will partner up with the secretive start-up to provide data service for its augmented reality glasses. The Magic Leap One Creator, the company's first headset, is expected to start shipping this summer. Read more at The Verge.
 
 






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