Grow Smart Income - week 22 ver.2, 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

An inside look at what retirement looks like with a $5 million nest egg and how to plan for that level of wealth. Robinhood's stock jumped after the trading app unveiled a $1 billion share buyback plan to boost investor confidence. A calculator tool demonstrates the powerful effects of compound interest on growing invested money over time. U.S. stock futures tumbled as rising Treasury yields sparked investor jitters about continued Fed tightening.

Walmart faced scrutiny after internal files showed incorrect pricing across 1,600 stores for multiple days. An analysis breaks down the net worth thresholds that define being poor, middle class, or wealthy in America. Businesses want to keep raising prices, but consumer pushback suggests they've hit affordability limits. HP's stock rallied on solid earnings and optimism around its AI-powered PC opportunities amid the AI boom.

Donald Trump faces criticism and legal troubles stemming from new corporate housekeeping revelations about the Trump Organization. Dell's share price fell after the company's AI server sales underwhelmed investors anticipating stronger enterprise demand. The overview covers retirement planning goals, stock buybacks, compound interest education, market volatility, pricing integrity issues, benchmarking wealth levels, consumer inflation fatigue, AI's corporate impacts, legal scandals involving a former president, and disappointments around a tech giant's AI infrastructure sales.

  1. What It's like to retire with a 5 million nest egg - Read more

  2. Robinhood Stock Jumps After Unveiling $1B Buyback Plan - Read more

  3. Use this calculator to see how compound interest can help your money grow over time - Read more

  4. US futures sink as rising Treasury yields rattle nerves - Read more

  5. Walmart files show wrong prices charged at 1,600 stores for days - Read more

  6. Are You Rich? Here's The Net Worth You Need To Be Poor, Middle Class, And Wealthy - Read more

  7. Businesses Want To Raise Prices Further, But Customers Have Had Enough - Read more

  8. HP Stock Jumps on Solid Earnings, Optimism for AI-Powered PCs - Read more

  9. Trump’s new image: Corporate cheat - Read more

  10. Dell Falls After AI Server Sales Fail to Impress Investors - Read more

“Learn the rules like a pro, so you can break them like an artist.”

Pablo Picasso

Crypto News

Ether prices fumbled after the SEC approved Ethereum ETFs, while Bitcoin briefly dipped below $68,000 on volatility. Shares of a Nasdaq-listed tech firm surged after it adopted Bitcoin as its primary treasury reserve asset. BlackRock added its own Bitcoin ETF to some income and bond fund portfolios as institutional crypto adoption advances. Former FTX executive Ryan Salame was sentenced to 7.5 years in prison for fraud, though he can keep his Porsche.

A Grayscale survey indicates Bitcoin will be increasingly relevant in the 2024 U.S. election cycle as adoption grows. Gemini Earn users recovered $2.18 billion or 232% of their trapped crypto assets after the lending program imploded. The total market cap of stablecoins rose to 2-year highs even as their dominance over crypto markets slid to 6%. PayPal launched its USD stablecoin on Solana to enable faster, cheaper transactions for consumers.

Mastercard's new "Crypto Credential" service went live, aiming to simplify sending Bitcoin payments. Stablecoin issuer Circle expanded in Brazil through a partnership with investment bank BTG Pactual. Bloomberg's ETF analyst expects BlackRock's amended Ethereum ETF application could see approval by June. JPMorgan analysts predict Ether spot ETFs will see much lower demand compared to their Bitcoin counterparts. Researchers cracked an 11-year-old password to recover over $3 million worth of inaccessible Bitcoin.

  1. Cryptocurrency Market News: Ether Fumbles After ETF Nod, Bitcoin Briefly Slides Below $68K - Read more

  2. Shares of Nasdaq-Listed Tech Firm Surge After It Adopts Bitcoin ‘As Its Primary Treasury Reserve Asset’ - Read more

  3. BlackRock adds own Bitcoin ETF to income and bond funds - Read more

  4. FTX Exec Ryan Salame Sentenced to 7.5 Years in Prison - But He Can Keep His Porsche - Read more

  5. Bitcoin increasingly relevant in 2024 US election: Grayscale survey - Read more

  6. Gemini Earn Users Receive $2.18 Billion of Their Digital Assets in Kind - a 232% Recovery - Read more

  7. Stablecoin market cap rises to 2-year highs as dominance slides to 6% - Read more

  8. PayPal USD Stablecoin Now Available on Solana Blockchain, Providing Faster, Cheaper Transactions for Consumers - Read more

  9. Mastercard’s ‘Crypto Credential’ Goes Live to Simplify Sending Bitcoin - Read more

  10. USDC issuer Circle increases Brazil footprint, partners with LatAm investment bank BTG Pactual - Read more

  11. BlackRock Amends Ethereum ETF Application; Bloomberg’s Balchunas Sees ETF Going Live By June - Read more

  12. Ether Spot ETFs to See Much Lower Demand Than Bitcoin Versions, JPMorgan Says - Read more

  13. Researchers crack 11-year-old password, recover $3 million in bitcoin - Read more

“It's not just about being better. It's about being different. You need to give people a reason to choose your business.”

Tom Abbott

Artificial Intelligence

AI companions are being explored as a solution to combat loneliness, raising ethical considerations. Economists are rethinking automation narratives as AI disrupts labor markets in unforeseen ways. China's military unveiled rifle-toting robot dogs, showcasing AI and robotics integration into future warfare capabilities. Google faced scrutiny for manually suppressing bizarre responses from its AI systems.

New AI technologies like advanced image processing could enhance the iPhone's camera and other capabilities. OpenAI CEO Sam Altman pledged to donate most of his wealth through the Giving Pledge philanthropy initiative. OpenAI formed a dedicated Safety and Security Committee on its board to help govern AI risks. French startup Mistral AI set its sights on the U.S. market in its quest to develop safer, more robust AI systems.

Opera became the latest browser to integrate advanced AI modeling by adding Google's AI assistant Gemini. PwC is set to become OpenAI's largest enterprise customer as businesses double down on generative AI. A former Google China exec doubled down on his 2027 prediction that AI will displace 50% of jobs. Articles dissected the technical foundations and commercial implications of generative AI models.

A former OpenAI researcher who resigned over safety concerns joined rival Anthropic amid the AI brain drain. The divergence in AI policies and investments is creating a U.S. vs Europe economic divide. Scientists unveiled the first "bilingual" brain-reading device capable of decoding English and Spanish thoughts. Samsung's new Galaxy Watch will feature a motivational AI health chatbot called Galaxy AI.

AI chatbot maker Character.ai discussed potential partnerships with Meta and xAI for content generation. The Claude AI can now utilize third-party tools and websites through a browsing feature. Leaked interviews revealed OpenAI's Sam Altman was ousted by the board over the surprise ChatGPT launch. A profile delved into Anthropic's mission of developing transformative but safe AI systems.

  1. AI Companions Combat Loneliness - Read more

  2. AI Is Making Economists Rethink the Story of Automation - Read more

  3. China’s military shows off rifle-toting robot dogs - Read more

  4. Google Caught Manually Taking Down Bizarre AI Answers - Read more

  5. Here’s how new AI tech could change the iPhone - Read more

  6. OpenAI’s Sam Altman vows to give away most of his wealth through the Giving Pledge - Read more

  7. OpenAI Board Forms Safety and Security Committee - Read more

  8. Mistral AI, France’s Startup Darling, Takes Aim at the US Market - Read more

  9. Opera is adding Google's Gemini AI to its browser - Read more

  10. PwC to become OpenAI's largest enterprise customer amid genAI boom - Read more

  11. Former Google China boss doubles down: AI to take 50% of jobs by 2027 - Read more

  12. Decoding generative artificial intelligence - Read more

  13. OpenAI researcher who resigned over safety concerns joins Anthropic - Read more

  14. U.S. vs. Europe: The new AI economic divide - Read more

  15. First ‘bilingual’ brain-reading device decodes Spanish and English words - Read more

  16. Galaxy AI Is Coming to New Galaxy Watch for More Motivational Health - Read more

  17. Chatbot Maker Character.ai Discussing Potential Partnerships With Meta, xAI - Read more

  18. Claude can now use tools - Read more

  19. Former OpenAI board member reveals why Sam Altman was fired in bombshell interview—‘we learned about ChatGPT on Twitter’ - Read more

  20. Inside Anthropic, the AI Company Betting That Safety Can Be a Winning Strategy - Read more

“Alone we can do so little; together we can do so much.”

Helen Keller

Top Article Picks this week

New research examines the intricate links between diet and mental health, and how dietary choices can influence psychological well-being. While being antisocial is often viewed negatively, an article explores scenarios where avoiding social situations can actually be beneficial. For those looking to improve their math skills in everyday life, 9 helpful mental math shortcuts and tricks are revealed.

A rare "parade of planets" is on the celestial horizon, and stargazers are provided tips on how to best view this must-see sky event. A thought-provoking philosophical piece ponders the implications of humans making contact with intelligent alien civilizations. Turning 65 carries different meanings today compared to past generations, as an expert weighs in on evolving perspectives around this milestone age.

Google updated its core search algorithm, expected to trigger seismic shifts in how online content is discovered and prioritized. Rather than viewing anxiety as purely negative, one writer shares their personal journey of letting anxiety be their teacher. The overview touches on diet's mental health impact, the virtues of being antisocial at times, numerical literacy hacks, a celestial viewing guide, speculative alien contact, redefining aging milestones, search engine updates dramatically reshaping the internet, and a reframing of anxiety's lessons - providing an engaging variety of perspectives.

  1. How Your Diet Affects Your Mental Health (Reading time: 4 min) - Read here

  2. When It’s Good to Be Antisocial (Reading time: 3 min) - Read here

  3. 9 Secret Shortcuts of People Who Are Good at Everyday Math (Reading time: 3 min) - Read here

  4. A ‘Parade of Planets’ Is Coming. Here’s How to Watch This Sky Show (Reading time: 4 min) - Read here

  5. Loving the Alien (Reading time: 46 min) - Read here

  6. Why Turning 65 Isn't What It Used to Be, According to an Expert (Reading time: 4 min) - Read here

  7. Google just updated its algorithm. The Internet will never be the same (Reading time: 12 min) - Read here

  8. My Anxiety Had Something to Teach Me (Reading time: 6 min) - Read here

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“A person who never made a mistake never tried anything new.”

Albert Einstein

Book of the week

Cloud Atlas is an audacious, genre-bending work that showcases Mitchell's boundless creativity and talent. The novel comprises six nested stories spanning vastly different time periods and locations, from a 19th century seafaring tale to a post-apocalyptic future. Mitchell seamlessly transitions between these disparate narratives, each written in a distinct style mirroring its setting. The stories are ingeniously interconnected, with characters, objects, and events crossing over in subtle yet profound ways.

The structure is intricate, with the narratives running in one chronological order before reversing back, creating a sense of symmetry and ouroboric unity. Mitchell explores profound questions about human nature, morality, reincarnation, and our impact on the world through the interlocking stories. His imaginative worldbuilding is staggering, whether depicting the gritty realism of 1970s California or an eerily prescient corporatist dystopia.

The writing is consistently rich, evocative, and insightful, with Mitchell displaying remarkable versatility across genres. While ambitious and complex, the core narratives remain accessible and engaging page-turners on their own. Thematically, Cloud Atlas meditates on enduring human issues like oppression, greed, and the struggles between societal obedience and personal ethics. It's a daring, labyrinthine work that rewards careful reading and rereading to unravel its deeper meanings.

The inventive structure allows for countless interpretations on truth, identity, and cosmic interconnectivity. An undeniable literary tour-de-force, Cloud Atlas cements Mitchell as one of the most original and thought-provoking novelists of the 21st century. While occasionally getting bogged down in its own ambition, the novel's sheer scope, metaphysical heft, and narrative ingenuity make it a modern masterpiece. Cloud Atlas is a trailblazing work of fiction that will be analyzed and admired for generations to come.

“If you obey all the rules, you miss all the fun.”

Katherine Hepburn

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