Grow Smart Income - week 22, 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.

Read time: 7 minutes

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Image of the week

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Investing and Finance

There is critical analysis of what went wrong with capitalism's current model and potential remedies. TikTok plans global layoffs across its operations and marketing teams as it faces challenges. The U.S. Treasury market is minting cash at an unprecedented rate of $2 million per minute amid economic conditions. Despite market volatility, eight massive ETFs with billions in assets are outperforming the S&P 500 benchmark.

European stocks steadied as traders assessed the path forward for interest rates across the region. Wall Street analysts are growing increasingly bullish on stocks, raising targets amid the market rally. A couple in their 40s/50s with $2.2 million in home equity and $885,000 saved seeks advice on retiring by 2030. GameStop shares jumped after the meme stock darling raised $933 million through new share sales.

Apple's iPhone shipments to China rebounded sharply, up 52% as its sales gains momentum there. T-Mobile announced a $4.4 billion deal to acquire U.S. Cellular's wireless operations and customers. An analysis looks at whether investment alternatives to stocks/bonds are needed to build significant wealth. The overview covers issues around capitalism's flaws, tech layoffs, the booming Treasury market, outperforming ETFs, European markets, bullish stock forecasts, retirement planning cases, meme stock mania, Apple's China revival, telecom M&A, and wealth-building strategies.

  1. What went wrong with capitalism - Read more

  2. TikTok plans global layoffs in operations and marketing - Read more

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

  4. Eight Massive ETFs With Billions In Assets Are Beating The S&P 500 - Read more

  5. European Stocks Steady as Traders Assess Rate Path: Markets Wrap - Read more

  6. Wall Street is getting even more bullish on stocks - Read more

  7. I’m 49 and my husband is 59. We have a $2.2 million house and $885,000 saved for retirement. Can we retire by 2030? - Read more

  8. GameStop shares jump after meme darling raises $933 million in share sales - Read more

  9. Apple’s China iPhone Shipments Up 52% as Rebound Gains Steam - Read more

  10. T-Mobile to buy US Cellular's wireless operations in $4.4 billion deal - Read more

  11. Do You Need Alternatives to Get Rich? - Read more

“That which does not kill us makes us stronger.”

Friedrich Nietzsche

Crypto News

Uniswap revealed the assets it will utilize for its new fee mechanism ahead of a pivotal governance vote by token holders. Crypto exchange OKX withdrew its application for an operating license in Hong Kong amidst the regulatory crackdown there. The total value locked on the TON blockchain surpassed $300 million, showcasing the Layer 1's growth and adoption. Experts warn approved Ethereum ETFs could introduce serious security risks to the Ethereum network by altering validator incentives.

The famous Bitcoin white paper was re-uploaded to Bitcoin.org after Craig Wright failed in his legal attempts to claim authorship. The Aptos blockchain set a new daily transaction record of 115.4 million, surpassing even Solana's throughput capabilities. The combined assets under management in Bitcoin exchange-traded products crossed over 1 million BTC for the first time. Bitcoin retreated as traders assessed the risk of potential selling from funds linked to the historic Mt. Gox hack.

Argentina engaged El Salvador in talks about the "growth of cryptocurrency use in economies" as adoption spreads. Chainlink's token boomed amidst the Ethereum ETF rush and news it enabled swift payments on the network. Ledger began shipping its new 'Stax' touchscreen hardware wallet to pre-order customers after prolonged development. The overview covers DeFi governance, exchange delistings, blockchain metrics, crypto ETF security concerns, Bitcoin history, Layer 1 milestones, Bitcoin investment vehicles, trader risk analysis, nation-state crypto talks, oracle developments, and new hardware wallet releases.

  1. Uniswap reveals assets ahead of fee mechanism vote - Read more

  2. Crypto Exchange OKX Withdraws Hong Kong License Application - Read more

  3. TON blockchain’s total value locked surpasses $300 million - Read more

  4. Ethereum ETFs Could Lead to 'Serious' Security Risks, Say Experts - Read more

  5. Bitcoin White Paper Reuploaded to Bitcoin.org After Craig Wright’s Failed Satoshi Claim - Read more

  6. L1 Blockchain Aptos Sets New Transaction Record, Surpassing Solana with 115.4M Daily Transactions - Read more

  7. Bitcoin exchange-traded products now hold over 1 million BTC - Read more

  8. Bitcoin Retreats as Traders Mull Risk of Sales Linked to Mt. Gox - Read more

  9. Argentina Talks to El Salvador About ‘The Growth of the Use of Cryptocurrencies in Economies’ - Read more

  10. Chainlink Booms Amid Swift Payments Update, Ethereum ETF Rush - Read more

  11. Ledger's New 'Stax' Touchscreen Device Starts Shipping to Pre-Order Customers - Read more

“You must be the change you wish to see in the world.”

Mahatma Gandhi

Artificial Intelligence

TikTok is turning to generative AI to boost its advertising business and better compete with Meta and Google, who are seeking deals with Hollywood studios to leverage their content for AI training. While some fear hypothetical "superintelligent" AI, experts argue the real danger lies in contemporary AI systems amplifying human biases and misinformation. The Washington Post announced it is "pivoting to AI", joining other major news outlets embracing the technology across operations.

A new tool allows artists to "poison" their artwork to prevent unauthorized AI training, as debates around data rights intensify. Microsoft's CEO criticized highly anthropomorphic AI after the Scarlett Johansson voice clone scandal, arguing for a balanced approach. George Lucas believes the use of AI in filmmaking is "inevitable", while Mastercard expects AI to help detect compromised cards before fraudulent use.

Articles explored AI's potential to combat loneliness through virtual companionship, the pitfalls of seeking relationship advice from algorithms, and a VC's prediction that AI could displace 50% of jobs by 2027. Experts urged AI governance shouldn't be left solely to tech firms, while China released a chatbot trained on Xi Jinping's ideology. Apple aims to leverage its huge user base in the AI race, with iOS 18 potentially featuring AI-generated emoji and app customizations for iPhones.

The overview covers AI's commercial applications across advertising, content deals, misinformation concerns, media shifts, data rights tools, anthropomorphism debates, entertainment predictions, fraud prevention, social implications, job displacement forecasts, governance, nation-state initiatives, and consumer product plans.

  1. TikTok turns to generative AI to boost its ads business - Read more

  2. Meta and Google want to make AI deals with Hollywood studios - Read more

  3. The Danger Of Superhuman AI Is Not What You Think - Read more

  4. The Washington Post Tells Staff It’s Pivoting to AI - Read more

  5. This new tool lets artists ‘poison’ their artwork to deter AI companies from using it to train their models - here’s how it works - Read more

  6. Microsoft CEO Bashes Human-Like AI After OpenAI's Scarlett Johansson Scandal - Read more

  7. George Lucas Thinks Artificial Intelligence in Filmmaking Is 'Inevitable' - Read more

  8. Using AI, Mastercard expects to find compromised cards quicker, before they get used by criminals - Read more

  9. Could AI help cure ‘downward spiral’ of human loneliness? - Read more

  10. Dear AI: This is what happens when you ask an algorithm for relationship advice - Read more

  11. Top VC Kai-Fu Lee says his prediction that AI will displace 50% of jobs by 2027 is ‘uncannily accurate’ - Read more

  12. AI firms mustn’t govern themselves, say ex-members of OpenAI’s board - Read more

  13. China’s latest AI chatbot is trained on President Xi Jinping’s political ideology - Read more

  14. Apple Bets That Its Giant User Base Will Help It Win in AI - Read more

  15. iPhone users may get AI-generated emoji and more app customization than ever with iOS 18 - Read more

“What we think, we become.”

Buddha

Top Article Picks this week

An analysis of "The Prophet Who Failed" examines the legacy of an influential figure whose predictions did not materialize. A practical guide on how to clear your browser's cache and why this maintenance step is important for performance and privacy. The debate between counting steps versus timing workouts is explored, weighing the pros and cons of each approach for tracking fitness. With summer reading season here, a roundup highlights 24 new book releases across genres that are must-reads.

Health experts break down the potential benefits and risks of taking cold showers according to scientific research. Five key tips are provided to help establish a consistent sleep routine and fall asleep easier at your desired bedtime. An interesting perspective on deciding what to do with personal possessions and keepsakes before the end of life. Some psychiatrists are advocating mindfulness practices as a supplemental treatment for managing ADHD symptoms in patients.

A fascinating look at the memorization techniques actors employ to masterfully recall pages of dialogue. From misplaced modifiers to problematic punctuation, a humorous list calls out 43 embarrassing grammar gaffes even the sharpest communicators make. The overview covers topical commentary, tech tips, fitness tracking methods, literary recommendations, health practice analysis, sleep hygiene advice, end-of-life planning, psychiatric treatment approaches, thespian skills, and language instruction - providing an engaging mix of substantive insights and levity.

  1. The Prophet Who Failed (Reading time: 35 min) - Read here

  2. How to Clear Your Browser’s Cache, and Why You Should (Reading time: 4 min) - Read here

  3. Which Is Better: Counting Your Steps or Timing Your Workout? (Reading time: 3 min) - Read here

  4. 24 New Books You Need to Read This Summer (Reading time: 18 min) - Read here

  5. Here’s What Taking a Cold Shower Does to Your Body, According to Experts (Reading time: 5 min) - Read here

  6. The 5 Keys to Falling Asleep On Time Every Night (Reading time: 3 min) - Read here

  7. What Should You Do with Your Stuff before You Die? (Reading time: 12 min) - Read here

  8. Why More Psychiatrists Think Mindfulness Can Help Treat ADHD (Reading time: 8 min) - Read here

  9. How Actors Remember Their Lines (Reading time: 4 min) - Read here

  10. 43 Embarrassing Grammar Mistakes Even Smart People Make (Reading time: 8 min) - Read here

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“Change your thoughts and you change your world.”

Norman Vincent Peale

Book of the week

Dale Carnegie's iconic self-help book "How to Win Friends & Influence People" has stood the test of time, offering practical and timeless advice for developing strong interpersonal skills and building better relationships. With over 15 million copies sold, this groundbreaking work has helped countless individuals unlock their potential for success in both personal and professional spheres.

Carnegie's key principles, such as becoming genuinely interested in others, remembering names, and avoiding criticism, are simple yet profound in their ability to transform how we interact with those around us. Through engaging anecdotes and real-life examples, the author illustrates the power of empathy, active listening, and finding common ground – qualities that are perhaps even more relevant in today's fast-paced, digital world.

The book's straightforward language and easy-to-follow techniques make it accessible to readers of all backgrounds, making it a valuable resource for anyone seeking to improve their communication skills and overall emotional intelligence. While some of the examples may feel dated, the core principles espoused by Carnegie remain timeless and universally applicable, transcending cultural and generational boundaries.

"How to Win Friends & Influence People" is not just a self-help book; it's a blueprint for building meaningful connections and fostering mutual understanding – skills that are essential for personal growth and professional success. By encouraging readers to shift their perspective and prioritize the needs and interests of others, Carnegie's teachings can help cultivate a more compassionate and collaborative approach to life.

The book's enduring popularity is a testament to its effectiveness and the universal desire for better relationships, both in our personal lives and in the workplace. While some may criticize the book's focus on influencing others as manipulative, Carnegie's message is ultimately one of empowerment – empowering readers to communicate more effectively and create positive change in their lives and the lives of those around them.

"How to Win Friends & Influence People" offers a refreshing alternative to the cutthroat, zero-sum mentality that often pervades modern society, reminding us that true success is built on mutual understanding and cooperation. By incorporating Carnegie's principles into our daily interactions, we can create a ripple effect of positivity, kindness, and cooperation, ultimately making the world a better place, one relationship at a time.

Whether you're a seasoned professional seeking to refine your leadership skills or a recent graduate looking to make a strong impression in the workforce, this book is a must-read for anyone seeking to unlock their full potential for success through better interpersonal relationships. With its timeless wisdom and practical advice, "How to Win Friends & Influence People" is a true classic that has earned its place as an essential resource for personal and professional growth. In a world that often seems divided and disconnected, this book serves as a powerful reminder of the transformative power of genuine human connection and the importance of treating others with kindness and respect.

“Life is 10% what happens to us and 90% how we react to it.”

Charles R. Swindoll

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