Grow Smart Income - week 20, 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

Google parent Alphabet is reportedly in advanced talks to acquire marketing software firm HubSpot after reporting strong earnings that topped estimates. Tesla has quietly slashed over 3,400 job postings in the U.S., leaving just 3 active listings that may involve confined spaces, hazardous materials, and 12-hour workdays. A survey found only 4% of current retirees feel they are "living the dream," highlighting the challenges many face in retirement.

Financial experts recommend 5 key money moves to make before turning 40, like maxing out retirement accounts and paying down debt. GameStop's stock temporarily halted trading after surging following posts from investor "Roaring Kitty" who helped spark the 2021 meme stock frenzy. Legendary forecaster Gary Shilling warns the U.S. will enter a recession by year-end that could cause a 30% stock market drop.

Tech giants Microsoft and Amazon are investing billions in France to bolster their AI research and cloud computing capabilities in Europe. While some view Bitcoin and gold as crisis hedges, analysts argue they won't insulate investors from a potential recession. Sony announced better-than-expected earnings along with plans for a stock split and share buyback program.

Alibaba's stock plunged as the e-commerce giant reported a steep profit decline due to investment losses in the latest quarter. The overview covers major tech M&A, employment fluctuations, retirement challenges, financial advice, meme stock mania, economic forecasts, AI investments, asset comparisons, earnings beats, and quarterly disappointments.

  1. Google Parent Alphabet Reportedly Advancing Talks To Buy HubSpot as Earnings Top Estimates - Read more

  2. Tesla quietly slashed over 3,400 job postings, leaving just 3 listed in the U.S. - but applicants may face confined spaces, hazardous materials, and 12-hour days - Read more

  3. Just 4% of current retirees say they are ‘living the dream,’ survey finds. Here’s why - Read more

  4. 5 Money Moves to Make Before You Turn 40 - Read more

  5. GameStop Stock Temporarily Halted After Soaring Following 'Roaring Kitty' Posts - Read more

  6. The US will see a recession by year-end that could spark a 30% drop in the stock market, legendary forecaster Gary Shilling says - Read more

  7. Microsoft, Amazon Invest Billions in France To Boost Their AI Presence - Read more

  8. Bitcoin and Gold Won’t Save You - Read more

  9. Sony Posts Earnings Beat, Announces Stock Split, Buyback Plans - Read more

  10. Alibaba Stock Sinks as Profit Plunges on Investment Losses - Read more

"Happiness is not by chance but by choice."

Jim Rohn

Crypto News

Ledn saw its first-quarter crypto lending top a record $690 million as the lending market snaps back. Binance was fined $4.3 million by Canadian regulators for administrative violations. Marathon Digital's Q1 profit surged 184% as the company mined $176 million worth of bitcoin.

Several firms are awaiting SEC approval for their applications to launch Ethereum ETFs. Banking giant Wells Fargo revealed investments in bitcoin ETFs as institutional crypto adoption grows. BlockFi will shut its web platform this month, allowing users to access funds via Coinbase.

Vitalik Buterin proposed changes to make Ethereum's gas fees more efficient, potentially making it operate more like Solana. Bitcoin's mining difficulty saw its biggest drop since the crypto winter last week, according to Bernstein research. Coinbase reported a system-wide outage but assured users that funds remained safe.

MoonPay donated $1 million to Coinbase's Stand With Crypto initiative supporting the crypto industry. Crypto exchange OKX officially launched operations in Australia as it expands globally. BlackRock is closing in on becoming the world's largest bitcoin fund manager.

The overview covers the crypto lending rebound, regulatory actions, mining profits, pending Ethereum ETF launches, institutional bitcoin adoption, platform changes, proposed blockchain upgrades, mining metrics, exchange outages, industry initiatives, exchange expansions, and asset manager positioning.

  1. Ledn First-Quarter Loans Top Record $690M as Lending Market Snaps Back - Read more

  2. Binance Fined $4.3M by Canadian Financial Regulator for ‘Administrative Violations’ - Read more

  3. Marathon Digital mined $176 million in bitcoin as profit jumped 184% in Q1 - Read more

  4. Ethereum ETFs: Here Are All the Applications Awaiting SEC Approval - Read more

  5. Banking Giant Wells Fargo Reveals Investments in Bitcoin ETFs - Read more

  6. BlockFi to shut web platform this month, will let users access funds via Coinbase - Read more

  7. Will Vitalik Buterin’s Gas Fee Proposal Make Ethereum More Like Solana? - Read more

  8. Bitcoin Mining Difficulty Slumped Last Week in Biggest Decline Since Crypto Winter: Bernstein - Read more

  9. Coinbase reports system-wide outage, ensures 'funds are safe' - Read more

  10. MoonPay donates $1 million to Coinbase-initiated Stand With Crypto - Read more

  11. OKX officially launches crypto exchange in Australia - Read more

  12. BlackRock closes in on crown of world’s largest bitcoin fund - Read more

"First, think. Second, believe. Third, dream of coming true."

Walt Disney

Artificial Intelligence

Google's AI helped create 6 incredible images providing unprecedented visualizations of the human brain's structure. OpenAI is considering allowing users to generate AI-created pornographic content, raising ethical concerns. Sources say OpenAI plans to announce a competitor to Google Search powered by AI on Monday. IBM introduced new AI capabilities integrated with Microsoft's Copilot to drive business transformation.

Reports indicate Elon Musk's AI company X.AI is rapidly approaching a staggering $18 billion valuation. TikTok began automatically labeling AI-generated content on its platform to increase transparency. China unveiled a home-grown general-purpose humanoid robot capable of jogging at 6 km/h. AI's insatiable appetite for data center computing power is renewing demand for copper used in electrical infrastructure.

Anthropic announced European expansion plans along with raising more funding to grow its AI efforts. Microsoft-backed OpenAI unveiled GPT-4, its most advanced AI language model to date. IBM open-sourced its new Granite AI models to foster wider adoption and development of the technology. The UAE released its own AI model aiming to compete with big tech's offerings in the AI race.

The overview covers AI-enabled brain imaging, ethical dilemmas around synthetic media, upcoming search engine competitors, enterprise AI integration, skyrocketing AI company valuations, content labeling policies, advanced robotics, AI's rising energy needs, AI startup growth and funding, open-source model releases, and nations launching their own AI initiatives.

  1. 6 incredible images of the human brain built with the help of Google's AI - Read more

  2. OpenAI considers allowing users to create AI-generated pornography - Read more

  3. OpenAI plans to announce Google search competitor on Monday, sources say - Read more

  4. IBM Introduces New Microsoft Copilot Capabilities to Fuel AI-Powered Business Transformation - Read more

  5. Elon Musk's AI Firm X.AI Rockets Toward $18B Valuation: Report - Read more

  6. TikTok begins automatically labeling AI-generated content - Read more

  7. China's home-grown general-purpose humanoid jogs out at 6 km/h - Read more

  8. AI's Thirst for Data Center Power Feeds Renewed Demand for Copper - Read more

  9. Anthropic is expanding to Europe and raising more money - Read more

  10. Microsoft-Backed OpenAI Unveils Most Capable AI Model, GPT-4o - Read more

  11. IBM Releases Granite AI Models To Open-Source Community - Read more

  12. UAE releases new AI model to compete with big tech - Read more

"Say something positive, and you’ll see something positive."

Jim Thompson

Top Article Picks this week

To improve disagreements and keep conversations productive, experts recommend changing your language in 4 key ways to make your counterpart feel heard. Surprising advice suggests letting insects eat part of your plants can actually benefit the garden. A recent solar storm produced dazzling auroras visible across the Northern Hemisphere, captured in spectacular photos from around the world. Research indicates difficult childbirths may contribute to higher intelligence by sparking compensating brain development.

The Pima people of Arizona have extraordinarily low rates of obesity and diabetes, potentially due to their traditional desert diet nicknamed "the land that doesn't need Ozempic." Being excluded from social groups as an adult can sting profoundly, tapping into deep evolutionary drives for belonging and acceptance. Simulations warn Earth may eventually reform into one giant supercontinent inhospitable to human life.

Experts share tips on avoiding brain-eating amoebas and mercury poisoning from consuming risky foods like improperly cooked meat or certain fish. Comedian Jerry Seinfeld is making headlines again, but for unconventional reasons unrelated to his iconic sitcom. The ideal AC temperature for sleeping and other summer cooling tips were shared to help beat the heat.

One researcher argues increased longevity will require profound societal shifts to accommodate extending human lifespans. The overview covers communication advice, gardening tips, astronomical events, intelligence theories, indigenous diets, psychology of exclusion, potential future supercontinent, food safety guidance, celebrity happenings, AC recommendations, and the impacts of greater longevity.

  1. To have better disagreements, change your words – here are 4 ways to make your counterpart feel heard and keep the conversation going (Reading time: 5 min) - Read here

  2. Why you should let insects eat your plants (Reading time: 5 min) - Read here

  3. Solar storm hits Earth, producing colorful light shows across Northern Hemisphere (Reading time: 3 min) - Read here

  4. Why Are You So Smart? Thank Mom and Your Difficult Birth (Reading time: 4 min) - Read here

  5. The Land That Doesn’t Need Ozempic (Reading time: 17 min) - Read here

  6. Why Does Being Excluded From a Clique as an Adult Sting So Badly? (Reading time: 6 min) - Read here

  7. A Simulation Says Earth Will Turn Into One Giant, Human-Killing Supercontinent (Reading time: 3 min) - Read here

  8. How Not to Get Brain-Eating Worms and Mercury Poisoning (Reading time: 5 min) - Read here

  9. Spectacular photos show the northern lights around the world (Reading time: 2 min) - Read here

  10. What Is the Deal With Jerry Seinfeld? (Reading time: 10 min) - Read here

  11. What’s the Best A/C Temperature for Sleeping - And Other Questions (Reading time: 10 min) - Read here

  12. Increased longevity will bring profound social change (Reading time: 5 min) - Read here

Source: Entrepreneur

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“We cannot direct the wind, but we can adjust the sails.”

Dolly Parton

Book of the week

"The Millionaire Mind" provides fascinating insights into the habits and mindsets of America's wealthy elite. Through meticulous research and interviews, Stanley shatters myths about how millionaires really live and think. His data reveals the surprising frugality, diligence, and priorities of many self-made millionaires. The book examines their backgrounds, educations, career paths, values, and spouses' roles. It shows that many millionaires live relatively modest lifestyles despite their wealth.

Stanley explains how their focus on opportunities, hard work, integrity, and living below their means enabled them to build fortunes. With an engaging, anecdotal style, he illustrates overarching principles through compelling examples. Whether you're an entrepreneur, professional, or simply money-curious, "The Millionaire Mind" offers an illuminating look at the psychology of wealth-building. It's a must-read for anyone seeking to understand and emulate the millionaire mindset.

"If you are not taking care of your customer, your competitor will."

Bob Hooey

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