Grow Smart Income - week 19, 2024

What happened this week?

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Good day valued readers,

We hope this week's carefully curated selection of news finds you well. In this edition, we cover the latest developments across investing, finance, crypto, AI, and other topics to help you stay informed.

As always, our goal is to provide you with a professional, unbiased roundup of noteworthy news to augment your understanding of what's happening in the world. We take pride in hand-selecting articles from trustworthy sources across a diverse range of industries.

Please enjoy this week's newsletter. We're grateful for the opportunity to share these insights with you and look forward to continuing to be a valuable resource.

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Investing and Finance

This week, we examined a range of financial and economic topics impacting consumers and businesses alike:

Mastercard beat profit expectations on the back of strong card spending by U.S. consumers. In an unconventional housing trend, Amazon is selling tiny houses for less than $20,000 apiece, sparking viral "unboxing" videos. Robinhood may face SEC enforcement action over its U.S. crypto business operations. An insightful analysis looked at "Where did all the stocks go?" after 30 years of financial market returns.

The U.S. Treasuries market is minting cash at an unprecedented $2 million per minute rate. However, McDonald's and other food giants are struggling in the inflationary economy. For consumers, practical guidance on "How do I stop living paycheck to paycheck?" shed light on a pervasive issue. The "Rise of the Forever Renter Class" explored an emerging societal shift.

Lastly, TikTok confronted challenges as it prepared for its legal battle against the U.S. government in court. A wide-ranging week capturing corporate performances, economic forces, personal finance challenges, and the tech sector's escalating tensions.

  1. Mastercard's profit beats on strong card spending by U.S. consumers - Read more

  2. Amazon is selling tiny houses for less than $20,000 apiece - and the internet loves the unboxing videos - Read more

  3. Robinhood May Face SEC Enforcement Over Its US Crypto Business - Read more

  4. Where did all the stocks go? - Read more

  5. 30 Years of Financial Market Returns - Read more

  6. At $2 Million Per Minute, Treasuries Mint Cash Like Never Before - Read more

  7. McDonald's and other food giants are struggling in the inflation economy - Read more

  8. How do I stop living paycheck to paycheck? - Read more

  9. The Rise of the Forever Renter Class - Read more

  10. The challenges facing TikTok as it confronts the US in court - Read more

There is nothing permanent except change.

Heraclitus

Crypto News

This week, the cryptocurrency space witnessed several significant developments and milestones:

Grayscale's GBTC spot bitcoin ETF saw $63 million in inflows, ending a 78-day outflow streak. Bitcoin surpassed processing one billion transactions, over 800 weeks after its launch. Bitcoin billionaire Arthur Hayes predicted the market bottom is in, forecasting a "slow grind higher." In legal proceedings, BTC-e operator Alexander Vinnik pleaded guilty to a money laundering conspiracy charge.

Crypto venture capital funding hit $1 billion for the second consecutive month. However, a study found over 90% of stablecoin transactions aren't from real users, raising concerns. Coinbase posted a $1.2 billion net income in Q1, surpassing its entire 2023 earnings. Jack Dorsey's Block announced plans to invest 10% of bitcoin profits into BTC monthly, boosting its shares after beating Q1 earnings estimates.

PayPal expanded its crypto offerings through integration with MoonPay. The FBI arrested an individual for allegedly running a $43 million crypto trading Ponzi scheme. Bitcoin ETFs posted outflows as the cryptocurrency's price seesawed, while U.S. crypto super PACs raised over $100 million. Visa reported 90% of Ethereum, Tron, and Solana stablecoin transactions as "inorganic activity." An intriguing case saw a Bitcoin whale move $44 million after a decade, significantly boosting its holdings. Lastly, FTX had billions more than needed to pay bankruptcy victims.

  1. Grayscale's GBTC spot bitcoin ETF sees $63 million of inflows, ending 78-day outflow streak - Read more

  2. Bitcoin surpasses one billion transactions processed, eight hundred weeks after launch - Read more

  3. Bitcoin Billionaire Arthur Hayes Predicts Market Bottom Is In, 'Slow Grind Higher' - Read more

  4. BTC-e Operator Alexander Vinnik Pleads Guilty to Money Laundering Conspiracy Charge - Read more

  5. Crypto venture capital funding hits $1B for second straight month - Read more

  6. More Than 90% of Stablecoin Transactions Aren’t From Real Users, Study Finds - Read more

  7. Coinbase posts $1.2B net income in Q1, surpasses entire 2023 earnings - Read more

  8. Dorsey's Block to invest 10% of bitcoin profits into BTC each month, shares rise on Q1 earnings beat - Read more

  9. PayPal Expands Crypto Offerings With MoonPay Integration - Read more

  10. FBI Arrests Man For Running Alleged $43 Million Crypto Trading Ponzi Scheme - Read more

  11. Cryptocurrency Market News: Bitcoin Price Seesaws as Bitcoin ETFs Post Outflows - Read more

  12. US crypto super PACs have raised more than $100 million, report says - Read more

  13. 90% of Ethereum, Tron, Solana Stablecoin Transactions Are ‘Inorgranic Activity’, Visa Says - Read more

  14. Bitcoin Whale Moves $44 Million After a Decade - Here's How Much It Gained - Read more

  15. FTX Has Billions More Than Needed to Pay Bankruptcy Victims - Read more

Good judgment comes from experience, and a lot of that comes from bad judgment.

Will Rogers

Artificial Intelligence

This week, we witnessed the rapidly advancing frontiers of artificial intelligence across various domains:

Generative AI is poised to design new drugs autonomously in the near future, showcasing its potential in healthcare innovation. Samsung's upcoming Galaxy S25 series will reportedly harness "Battery AI" to optimize battery life. Tech giants Microsoft, Google, and Meta are betting on synthetic data to build more robust AI models. Apple is developing specialized chips to run AI software in data centers, underscoring its growing focus on this transformative technology.

In a groundbreaking partnership, OpenAI's API integrated with Stack Overflow, a popular platform for developers. The U.S. Air Force secretary took a historic ride in an AI-controlled fighter jet, demonstrating AI's military applications. Researchers explored "Language Model Guided Sim-To-Real Transfer," leveraging AI to bridge simulations and real-world scenarios. An insightful study evaluated whether teachers can detect AI-generated text among student essays.

Apple doubled down on AI with the launch of its new iPad Pro powered by the M4 AI chip. Lastly, a purportedly sentient new AI model sparked discussions around the boundaries of machine intelligence. From healthcare to consumer electronics, aviation to education, this week highlighted AI's disruptive potential across myriad sectors as the technology continues its relentless evolution.

  1. Generative AI will be designing new drugs all on its own in the near future - Read more

  2. Galaxy S25 series will reportedly use "Battery AI" to squeeze extra battery life out of the phones - Read more

  3. Microsoft, Google and Meta Bet on Fake Data to Build AI Models - Read more

  4. Apple is reportedly developing chips to run artificial intelligence software in data centers - Read more

  5. OpenAI API Partnership with Stack Overflow - Read more

  6. AI-controlled fighter jet takes Air Force secretary on historic ride - Read more

  7. Language Model Guided Sim-To-Real Transfer - Read more

  8. Do teachers spot AI? Evaluating the detectability of AI-generated texts among student essays - Read more

  9. Apple Pushes Into AI With Launch of New iPad Pro Powered by M4 AI Chip - Read more

  10. A Stunning New AI Has Supposedly Achieved Sentience - Read more

Think in the morning. Act in the noon. Eat in the evening. Sleep in the night.

William Blake

Top Article Picks this week

This week, we explore a diverse array of thought-provoking insights and life hacks:

We learn why "Saving Seconds Is Better Than Hours" and how starting your "Breakfast with a Vegetable" can be a game-changer. An intriguing piece examines "The Battle for Attention" in our modern world. A sobering look at "A Generation of Distrust" sheds light on a concerning societal trend. To enhance communication, we offer "Five Phrases That Make People Discount What You're Saying" to avoid.

For tech enthusiasts, we share "8 Handy iPhone Keyboard Tricks You Might Not Know." A productivity tip suggests forgetting to-do lists for a "Got Done" list instead. On a philosophical note, we revisit "The Day Dostoyevsky Discovered the Meaning of Life in a Dream." Thoughtful guidance on "What to Say (and Not Say) to Someone Who Is Depressed" provides invaluable wisdom.

Finally, a poetic piece transports us to "A Time We Never Knew," expanding our perspectives. A multi-faceted week spanning productivity hacks, mental health, philosophy, and reflections on the human experience through thought-provoking lenses.

Source: Entrepreneur

  1. Saving Seconds Is Better Than Hours (Reading time: 7 min) - Read here

  2. Why Your Breakfast Should Start with a Vegetable (Reading time: 9 min) - Read here

  3. The Battle for Attention (Reading time: 38 min) - Read here

  4. A Generation of Distrust (Reading time: 9 min) - Read here

  5. Five Phrases That Make People Discount What You’re Saying (Reading time: 4 min) - Read here

  6. 8 handy iPhone keyboard tricks you might not know (Reading time: 3 min) - Read here

  7. Forget To-Do Lists. You Really Need a ‘Got Done’ List (Reading time: 5 min) - Read here

  8. The Day Dostoyevsky Discovered the Meaning of Life in a Dream (Reading time: 12 min) - Read here

  9. What to Say to (and Not Say) to Someone Who Is Depressed (Reading time: 6 min) - Read here

  10. A Time We Never Knew (Reading time: 8 min) - Read here

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Work like you don't need the money. Love like you've never been hurt. Dance like nobody's watching.

Satchel Paige

Source: Entrepreneur

Book of the week

This classic financial guide presents timeless principles for acquiring wealth and prosperity through a collection of entertaining parables set in ancient Babylon. The stories follow characters like the richest man in Babylon who shares his secrets for accumulating money through basic principles like living within one's means, getting out of debt, and investing wisely. One story tells of a humble camel boy named Sharru Nada who diligently saves a portion of his modest earnings and eventually becomes a wealthy man through perseverance.

Another parable involves a wealthy man who shares his financial wisdom with a childhood friend who had fallen into debt, teaching him the seven cures for a lean purse. Key takeaways include paying yourself first by saving at least 10% of your income, controlling expenditures, investing prudently, increasing your ability to earn, and having a clear vision of your goals. The book emphasizes the power of compound interest and advocates owning revenue-generating assets like real estate and businesses.

Clason's simple parables illustrate universal truths about money management that are as relevant today as when the book was first published in 1926. With an engaging narrative style, the book makes complex financial concepts accessible to readers of all income levels and backgrounds. It has inspired millions to adopt sound money habits and take control of their personal finances. The book's principles have withstood the test of time, making it a classic and perennial bestseller in the personal finance genre.

Its stories provide timeless wisdom that can put anyone on the path to financial independence and success. Overall, it offers a roadmap to wealth and prosperity based on simple, actionable advice communicated through brilliant storytelling.

It is far better to be alone, than to be in bad company.

George Washington

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