The markets are souring on artificial intelligence, but is this the bubble being burst? Meanwhile, California proposes a tax on billionaires Hello, and welcome to TechScape. I’m Blake Montgomery, US tech editor at the Guardian, writing to you after fending off sunburns at the beach. Today, we’re discussing a rocky week for the AI industry’s finances and how California’s proposed billionaire’s tax is changing the political posture of the state’s governor. Impact of social media ban for under-16s in UK hinges on how firm it is UK under-16s social media ban: which apps will be blocked and how will it work? ‘Tech firms are losing the public’: social media age bans near tipping point OpenAI staggers AI model release after Trump administration request Meta pauses employee tracker for AI training