The Authzed Product Update is a monthly newsletter that provides an overview of new features and updates to the Authzed platform. The update includes announcements about new schema language, improved Playground functionality, website design changes, and the release of Java and NodeJS clients for developers using JVM languages or TypeScript. Additionally, the update highlights various company events and activities such as developer happy hours, co-hosted events, and product launches. The newsletter also features a section called "Entropy from #random" which shares humorous anecdotes about the team's personal experiences with technology, including laptop fan issues and trending topics like Mac & Cheese Ice Cream.