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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

Under Armour missed profit forecasts and announced a restructuring plan to cut costs amid slowing demand. Data shows Americans are still migrating out of major cities at elevated rates compared to pre-pandemic levels. Ahead of Palo Alto Networks' earnings on Monday, key points about the cybersecurity firm's performance and outlook are highlighted. The Dow Jones Industrial Average hit the major 40,000 milestone for the first time, marking a symbolic achievement.

Blue-collar jobs across industries like construction and manufacturing are booming, providing economic opportunities. Take-Two Interactive announced a release date for the highly-anticipated Grand Theft Auto VI after years of development. The old adage of "Sell in May and go away" by exiting stocks may not apply this year based on historical trends. Gold and silver ETFs are shining as precious metal prices surge, benefiting from economic uncertainty.

AI pioneer and "godfather" says widespread artificial intelligence will likely necessitate a universal basic income policy. Stock market performance is analyzed in the context of election years and whether returns are impacted by political cycles. A study explores if generational wealth persists or if fortunes tend to migrate across families over time.

While diversification is crucial, some assets like gold, real estate, and crypto may not provide true portfolio diversification benefits. The overview covers corporate earnings misses, demographic shifts, earnings previews, market milestones, labor trends, gaming industry releases, investing wisdom, commodity rallies, AI's societal impact, election year patterns, family wealth dynamics, and portfolio diversification considerations.

1. Under Armour Misses Profit Forecasts, Announces Restructuring Plan - Read more

2. Americans Still Moving Out of Bigger Cities at Higher Rate Than Pre-Pandemic - _{Read more}

3. What You Need To Know Ahead of Palo Alto Networks' Earnings Report Monday - Read more

4. The Dow Jones hits 40,000 for the first time. What to know about this major milestone - Read more

5. The blue-collar job boom - Read more

6. Take-Two Interactive Sets 'Grand Theft Auto VI' Release Date - Read more

7. Should You Sell in May and Go Away? Probably Not - Read more

8. Gold and Silver ETFs Shine As Precious Metals Prices Surge - Read more

9. We'll need universal basic income - AI 'godfather' - Read more

10. How Does the Stock Market Perform in an Election Year? - Read more

11. Generational Wealth: Does the Apple Fall Far From the Tree? - Read more

12. 3 Assets That Might Not Diversify as Well as You Think - Read more

Crypto News

JPMorgan estimates Bitcoin's mining cost has dropped to around $45,000 as inefficient miners exit the industry. The crypto industry is rallying behind a bipartisan House bill providing regulatory clarity as it heads for a final vote. Hong Kong expanded its cross-border digital yuan trial, allowing residents to open e-CNY wallets in a step toward the CBDC's internationalization.

Prosecutors arrested two individuals for laundering $73 million from a "pig butchering" crypto investment scam. Sources indicate the SEC is making abrupt progress on reviewing Ethereum ETF filings, though approval is not guaranteed yet. Over 2 trillion Shiba Inu (SHIB) tokens moved in 24 hours, possibly signaling an impending surge. A UK judge ruled Craig Wright extensively lied about being Satoshi Nakamoto and holding Bitcoin copyright in his COPA lawsuit.

A Tornado Cash developer was sentenced to over 5 years in prison as part of the crypto mixer crackdown. Venezuelan authorities targeted Bitcoin miners in their latest crypto crackdown, further stifling the industry there. Custody firm Prometheum soft-launched ether custody treating it as a security under SEC guidance. In a breaking development, the SEC signaled to exchanges it is leaning toward approving spot Ethereum ETF products.

The overview covers mining economics, regulatory developments, CBDC trials, crypto crime cases, ETF application progress, meme coin movements, Satoshi identity claims, criminal sentencing, government crackdowns, crypto custody offerings, and the pivotal SEC stance on Ethereum ETFs.

1. Bitcoin Mining Cost Drops to $45K as Inefficient Miners Exit: JPMorgan - Read more

2. Crypto Industry Rallies Behind House Bill as It Heads Toward Final Vote - Read more

3. Hong Kong Expands Cross-Border Digital Yuan Trial, Allows Residents to Set Up E-CNY Wallets - Read more

4. Prosecutors arrest two for laundering $73 million in 'pig butchering' scheme - Read more

5. SEC to Decide on Ethereum ETFs - Read more

6. 2 Trillion Shiba Inu (SHIB) in 24 Hours: Shiba Inu (SHIB) on Verge of Surge? - Read more

7. Ether ETFs Filing Process Sees Abrupt Progress, Though Approval Not Guaranteed: Sources - Read more

8. UK High Court judge says Craig Wright lied ‘extensively and repeatedly’ in COPA lawsuit over Satoshi, Bitcoin copyright claims - Read more

9. Cryptocurrency Market News: Tornado Cash Developer Sentenced to Over 5 Years in Prison - Read more

10. Bitcoin Miners Targeted by Venezuela in Latest Crypto Crackdown - Read more

11. Prometheum soft-launches ether custody services, treating it as a security - Read more

12. BREAKING: SEC Says to Exchanges That It’s Leaning Toward Approving Ethereum Spot ETFs - Read more

Artificial Intelligence

In a concerning development, a study found people could not reliably distinguish GPT-4's outputs from human writing in a modern Turing test. Researchers explore whether advanced AI systems could make humans up to 30% happier by enhancing productivity and wellbeing. Cloud data firm Snowflake is in talks to acquire AI startup Reka AI for around $1 billion to bolster its AI capabilities. Analysts suggest Apple needs to evolve its offerings and business model to effectively compete in the artificial intelligence era.

Amidst the AI frenzy, Google is bringing back the option for a classic search experience without AI enhancements for those who prefer it. Protesters fighting the rise of AI are split on the best strategies and demands for regulating the disruptive technology responsibly. Anthropic shared reflections on its "responsible scaling" policy aiming to develop transformative AI systems cautiously and safely. The immense computing power required for cutting-edge AI raises interest in light-based chips as a more efficient hardware solution.

While some high schools restrict AI writing tools over concerns, others are embracing the technology to prepare students for an AI-driven future. A major Google Search update utilizing advanced AI language models is poised to reshape the entire internet experience. Dell is expanding its AI Factory initiative with NVIDIA to accelerate enterprise AI adoption through optimized infrastructure. IBM announced strengthened partnerships with AWS, Microsoft and Meta while updating on its own AI product roadmap.

The overview covers AI capabilities surpassing humans, wellbeing implications, major AI acquisitions, competitive positioning, user preference options, protest movements, safety principles, hardware innovations, education strategies, search engine upheaval, enterprise AI rollouts, and tech partnership realignments -- all revolving around the transformative AI revolution.

1. People cannot distinguish GPT-4 from a human in a Turing test - Read more

2. Could AI Make Us 30% Happier? - Read more

3. Snowflake Is in Talks to Buy Reka AI for $1 Billion - Read more

4. Apple Needs to Evolve to Compete in the Artificial Intelligence Era - Read more

5. Google is bringing back classic search, with no AI – and I couldn't be happier about that - Read more

6. Protesters Are Fighting to Stop AI, but They’re Split on How to Do It - Read more

7. Reflections on our Responsible Scaling Policy - Read more

8. AI Needs Enormous Computing Power. Could Light-Based Chips Help? - Read more

9. Many high schools are curbing the use of AI. These schools are leaning in - Read more

10. Google Is About to Change the Whole Internet — Again The company’s all-in investment in AI. - Read more

11. Dell Technologies Expands Dell AI Factory with NVIDIA to Turbocharge AI Adoption - Read more

12. IBM Strengthens AWS, Microsoft, Meta Ties, Updates on AI Push - Read more

Top Article Picks this week

New research reveals how the language used in online dating profiles can subconsciously influence the types of connections people pursue. Unfortunately, data shows school segregation levels are worsening in the U.S. after decades of progress. A tongue-in-cheek case for why people should simply read books instead of relying on summaries and shortcuts. Scientists are making strides in the ethically complex area of building synthetic embryos from stem cells.

A thoughtful personal essay explores the societal pressures and stigma around being a childless 40-something by choice. An economist shares a useful framework for rationally evaluating tough life decisions involving difficult trade-offs. Experts weigh in on whether mindfulness practices like meditation can truly deliver on their promised benefits like happiness and better health. Getting laser eye surgery involves some unpleasant realities that patients aren't always warned about beforehand.

For travelers seeking to avoid crowds, recommendations highlight some less-explored but unmissable destinations for 2024. An amusing list breaks down the biggest design flaws and inefficiencies present in the human body from an engineering perspective. With summer movie season heating up, critics highlight the 15 must-see films to prioritize this year across all genres. Insightful tips on how to solicit higher-quality, more candid feedback that can facilitate true personal growth.

The overview touches on how language and framing impacts human decision-making, concerning education inequality trends, literary debates, bioethical frontiers, evolving societal norms, decision frameworks, mindfulness effects, medical procedure realities, under-the-radar travel spots, biological critiques, pop culture highlights, and personal development strategies.

1. How Language Influences Your Choices in Online Dating (Reading time: 4 min) - Read here

2. Why school segregation is getting worse (Reading time: 5 min) - Read here

3. Just Read the Book Already (Reading time: 10 min) - Read here

4. Building embryos (Reading time: 20 min) - Read here

5. On Being 40 and 'Childless' (Reading time: 7 min) - Read here

6. An Economist’s Rule for Making Tough Life Decisions (Reading time: 5 min) - Read here

7. Can mindfulness really make you happy, lower your blood pressure and improve your sleep? Experts reveal all (Reading time: 6 min) - Read here

8. Seven Things Nobody Tells You Before You Get Laser Eye Surgery (Reading time: 5 min) - Read here

9. Where to Travel in 2024, Without Crowds (Reading time: 7 min) - Read here

10. Top 10 Design Flaws in the Human Body (Reading time: 8 min) - Read here

11. The 15 movies you need to see this summer (Reading time: 12 min) - Read here

12. How to Ask for the Feedback You Really Need (Reading time: 5 min) - Read here

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Book of the week

"Quo Vadis" is a sweeping historical novel that transports readers to ancient Rome during the reign of the notorious emperor Nero. Sienkiewicz masterfully weaves a compelling tale of love, faith, and moral courage against the backdrop of a decadent and persecuted Roman empire. The story follows Vinicius, a proud centurion who falls deeply in love with the beautiful Christian woman Ligia, setting off a profound journey of self-discovery amidst the brutality of Nero's regime. With rich descriptions, vivid dialogue, and brilliantly drawn characters, Sienkiewicz brings ancient Rome to vivid life on the page.

The novel poignantly explores the clash between the hedonistic excesses of pagan Rome and the rising tide of Christianity, led by the apostle Peter himself. Vinicius's internal struggle to understand Ligia's unwavering faith mirrors the larger spiritual upheaval occurring in the empire. Sienkiewicz doesn't shy away from depicting the horrific persecution of Christians, making their moral fortitude all the more profound. At its core, "Quo Vadis" is an epic love story, but also a deeply moving examination of the human soul's search for truth and meaning amidst overwhelming darkness. This radiant translation restores the full glory of Sienkiewicz's renowned masterwork.

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