Grow Smart Income - week 29, 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

The economic landscape continues to evolve, with gas prices potentially driving an inflation slowdown, raising questions about the future trajectory of consumer costs. Interestingly, lower inflation coupled with higher wages has resulted in increased purchasing power for many workers, a positive development amidst economic uncertainties.

As the Federal Reserve continues its battle against inflation, market watchers are keenly observing the next steps in monetary policy. Meanwhile, a BlackRock study reveals widespread concern among retirement savers about the longevity of their funds, highlighting the importance of robust financial planning. The stock market experienced a historically unusual day on Thursday, which some analysts interpret as a potentially positive sign for future market performance. In the fintech world, Revolut's billionaire founder Nik Storonsky is poised for a substantial payday as part of an upcoming $500 million share sale.

Financial advisors are suggesting it might be time to move money out of cash, indicating potential shifts in investment strategies. Wealthy Americans are making specific money moves in response to economic uncertainty, providing insights for broader financial planning. Gen Z's preference for sobriety has led to a boom in the non-alcoholic beverage market, with America's largest non-alcoholic beer brand doubling its valuation to $800 million. This trend reflects changing consumer habits and presents new market opportunities.

A significant "horizontal wealth transfer" is on the horizon, with women set to inherit trillions of dollars, potentially reshaping wealth distribution and financial decision-making. Lastly, Goldman Sachs reports a more than doubling of profits to $3 billion as deals rebound, signaling a potential upturn in financial sector activity.

  1. Will Gas Prices Continue to Drive an Inflation Slowdown? - Read more

  2. Believe It Or Not: Lower Inflation and Higher Wages Have Made Paychecks Go Further - Read more

  3. What's Next for the Fed's Fight Against Inflation? - Read more

  4. Many Retirement Savers Worry About Running Out of Funds, BlackRock Study Finds - Read more

  5. Thursday was a historically strange day in the stock market. That may be good news - Read more

  6. Revolut billionaire Nik Storonsky is set for a 9-figure payday as part of upcoming $500 million share sale - Read more

  7. Why It Might Be Time To Move Your Money Out of Cash - Read more

  8. Here are 3 money moves wealthy Americans are more likely to make in times of economic uncertainty - Read more

  9. Gen Z loves sobriety so much that America’s biggest nonalcoholic beer brand just doubled its valuation to $800 million - Read more

  10. Women are set to inherit trillions of dollars in the great 'horizontal wealth transfer' - Read more

  11. Goldman Sachs profits more than double to $3bn as deals rebound - Read more

"Life is a long lesson in humility."

J.M. Barrie

Crypto News

The cryptocurrency market continues to evolve rapidly, with significant developments in both corporate strategies and regulatory landscapes. MicroStrategy, riding the wave of Bitcoin's rally, announced a 10:1 stock split after its share price tripled in a year, reflecting the growing integration of Bitcoin into traditional financial structures.

Coinbase has made strides in user experience, unveiling a web app for tracking personal on-chain wallets and launching a 'one-stop' crypto app designed to simplify interactions with digital assets. These moves underscore the ongoing efforts to make cryptocurrency more accessible to a broader audience. Germany's Bitcoin holdings have dwindled to less than $300 million as the country accelerates its selloff, marking the end of its direct involvement in the cryptocurrency market. This development highlights the complex relationship between national governments and digital assets.

In the venture capital space, Morgan Creek Digital is raising up to $500 million for a new Web3 fund, signaling continued institutional interest in blockchain technologies despite market volatilities. Meanwhile, the SEC has dropped its investigation into the BUSD stablecoin following a probe into Paxos, potentially easing some regulatory pressures in the stablecoin sector. XRP has shown impressive performance, climbing to $0.53 in the market's best weekly showing, prompting speculation about its future trajectory. Bitcoin has also rallied, partly fueled by optimism surrounding former President Trump, demonstrating the cryptocurrency's sensitivity to political and economic factors.

The SEC's decision to drop its investigation of Bitcoin L2 Stacks and builder Hiro represents another shift in the regulatory landscape. Lastly, Bitcoin ETFs have logged over $300 million in net inflows, reaching record levels following a six-day streak, indicating growing institutional and retail interest in Bitcoin investment vehicles.

  1. MicroStrategy to Split Stock 10:1 After Share Price Triples in a Year on Bitcoin Rally - Read more

  2. Coinbase Unveils Web App to Track Personal On-Chain Wallets - Read more

  3. Germany Holds Less Than $300 Million in Bitcoin as Selloff Accelerates - Read more

  4. Morgan Creek Digital to Raise up to $500M for New Web3 Venture Capital Fund - Read more

  5. Coinbase launching a 'one-stop' crypto app designed to simplify user experience - Read more

  6. SEC drops its investigation into BUSD stablecoin following probe into Paxos - Read more

  7. It’s Over: The German Government Has Run Out Of Bitcoin - Read more

  8. XRP climbs to $0.53 in market’s best weekly performance – What’s next? - Read more

  9. Bitcoin Rallies as Trump Optimism Powers Crypto After Shooting - Read more

  10. SEC Drops Investigation of Bitcoin L2 Stacks and Builder Hiro, Filing Says - Read more

  11. Bitcoin ETFs log over $300 million in net inflows to reach record level following six-day streak - Read more

"To succeed in life, you need three things: a wishbone, a backbone and a funnybone."

Reba McEntire

Artificial Intelligence

The AI landscape continues to evolve rapidly, with OpenAI at the forefront of several significant developments. The company has introduced a scale to rank progress toward 'human-level' problem-solving, providing a framework for measuring AI advancement. According to OpenAI, there are five levels for AI to reach human intelligence, with current technology approaching level 2.

In a groundbreaking move, Synchron has unveiled an OpenAI-powered Brain-Computer Interface (BCI) chat feature, potentially revolutionizing communication for individuals with neurological conditions. OpenAI is also expanding its reach into bioscience, announcing a research partnership with Los Alamos National Laboratory. On the international stage, NATO has released its Artificial Intelligence Strategy, highlighting the growing importance of AI in global security and defense. However, some experts caution that AI productivity gains may be smaller than anticipated, tempering expectations about the technology's immediate economic impact.

Investor confidence in AI remains strong, with 46% of Warren Buffett's $410 billion portfolio invested in just four AI stocks. Microsoft, one of these key players, has enhanced its Copilot AI to understand handwriting, further bridging the gap between human and machine communication.

However, the AI industry isn't without controversy. Whistleblowers have accused OpenAI of illegally barring staff from airing safety risks, raising concerns about transparency and ethical practices in AI development. Meanwhile, Japan's SoftBank has acquired British AI chipmaker Graphcore, signaling continued consolidation and investment in the AI hardware sector. These developments underscore the rapid pace of AI advancement, its growing integration across various sectors, and the complex ethical and strategic considerations that accompany this technological revolution.

  1. OpenAI Scale Ranks Progress Toward ‘Human-Level’ Problem Solving - Read more

  2. Synchron unveils OpenAI-powered BCI chat feature - Read more

  3. OpenAI and Los Alamos National Laboratory announce bioscience research partnership - Read more

  4. Summary of the NATO Artificial Intelligence Strategy - Read more

  5. OpenAI says there are 5 'levels' for AI to reach human intelligence — it's already almost at level 2 - Read more

  6. AI productivity gains may be smaller than you’re expecting - Read more

  7. 46% of Warren Buffett's $410 Billion Portfolio Is Invested in 4 Artificial Intelligence (AI) Stocks - Read more

  8. Microsoft’s Copilot AI now understands your terrible handwriting - Read more

  9. OpenAI illegally barred staff from airing safety risks, whistleblowers say - Read more

  10. Japan's SoftBank acquires British AI chipmaker Graphcore - Read more

"He who has a why to live for can bear almost any how."

Friedrich Nietzsche

Top Article Picks this week

This week's articles span an impressive range of topics, offering insights into personal development, historical perspectives, and scientific breakthroughs. For those looking to sharpen their cognitive abilities, eleven simple methods to improve memory are presented, potentially enhancing daily life and professional performance.

The question of when to retire is addressed, providing valuable guidance for those contemplating this significant life transition. On a more somber note, the impact of economic challenges on personal relationships is explored, highlighting the intricate connection between financial stability and emotional well-being. Scientific discoveries continue to astound, with researchers uncovering clues about Cambrian cuisine through a fossilized trilobite stomach. In a leap towards de-extinction, scientists have created a 3D reconstruction of the woolly mammoth genome, potentially paving the way for reviving this ancient species.

For those struggling with motivation, eleven productivity tips tailored for "lazy people" offer practical strategies to achieve big, beautiful goals. The article on AI's revenue challenges provides a sobering perspective on the economic realities facing this rapidly advancing technology. Neuroscientists are making strides in understanding brain aging, with some researchers believing it may be possible to alter how our brains age. Mental health is also in focus, with an exploration of the differences between sadness and depression, emphasizing that both conditions are treatable.

History buffs will appreciate the debunking of five common misconceptions about the French Revolution. A fascinating map illustrates the vast reach of European colonialism, revealing that only five countries in the world were never conquered. These diverse articles offer a rich tapestry of knowledge, from practical self-improvement tips to cutting-edge scientific research and historical insights, providing readers with a broad spectrum of engaging content.

  1. 11 Simple Ways to Improve Your Memory (Reading time: 6 min) - Read here

  2. How do you know it’s time to retire? (Reading time: 10 min) - Read here

  3. ‘The Economy Ruined My Relationship’ (Reading time: 5 min) - Read here

  4. A fossilized trilobite stomach can show us clues to Cambrian cuisine (Reading time: 3 min) - Read here

  5. A 3D reconstruction of the woolly mammoth genome might help revive the extinct species (Reading time: 5 min) - Read here

  6. Big, beautiful goals – but can’t be bothered? 11 great productivity tips for lazy people (Reading time: 8 min) - Read here

  7. AI's problem: The missing revenues (Reading time: 5 min) - Read here

  8. Can we change how our brains age? These scientists think it’s possible (Reading time: 8 min) - Read here

  9. How do you know that you're sad or depressed? The good news is, both are treatable. (Reading time: 3 min) - Read here

  10. 5 Misconceptions About the French Revolution (Reading time: 12 min) - Read here

  11. Map: European Colonialism Conquered Every Country in the World But These Five (Reading time: 4 min) - Read here

Source: Entrepreneur

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"Life has no limitations, except the ones you make."

Les Brown

Book of the week

"The De-Textbook" is a humorous and irreverent take on conventional wisdom, aiming to challenge readers' preconceived notions about various topics. Written by the team at Cracked.com, known for their witty and often satirical content, the book promises to debunk common myths and misconceptions. The authors adopt a playful tone, referring to readers as "idiots" in a tongue-in-cheek manner, setting the stage for a fun and engaging reading experience. The book covers a wide range of subjects, from history and science to everyday life, promising to reveal the truth behind many commonly held beliefs.

With its provocative title and bold claims, "The De-Textbook" positions itself as a counter to traditional educational materials, offering a fresh perspective on familiar topics. The writing style is likely to be accessible and entertaining, making complex or obscure information more digestible for the average reader. While the book's approach may be unconventional, it appears to be well-received by readers, as evidenced by its high ratings on various platforms. The authors' goal seems to be not just to entertain but also to encourage critical thinking and questioning of accepted "facts."

However, potential readers should approach the book with a healthy dose of skepticism, as the humorous tone may sometimes blur the line between fact and exaggeration. The book's success likely stems from its ability to make learning feel less like a chore and more like an amusing exploration of little-known facts. For those who enjoy Cracked.com's online content, "The De-Textbook" offers a more comprehensive and cohesive version of their signature style.

While it may not be suitable as a serious academic resource, the book could serve as a starting point for further research into various topics. Ultimately, "The De-Textbook" appears to be a fun, irreverent read that challenges readers to reconsider what they think they know about the world around them.

"All you need in this life is ignorance and confidence; then success is sure."

Mark Twain

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