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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 financial landscape is evolving rapidly, with inflation posing significant challenges to retirement plans. Despite a recent sell-off in chip stocks, some analysts are viewing this as a potential buying opportunity. Amazon's Prime Day 2024 has set new records, showcasing the continued strength of e-commerce. President Biden's SAVE student loan repayment plan faces a setback as a federal appeals court blocks its implementation.

American Express experienced a slight dip in stock value following lower-than-expected revenue reports. Eli Lilly receives approval to sell its weight-loss drug in China, opening up a vast new market. Investors are reminded that a balanced portfolio often comes with some regrets, but diversification remains crucial. The CEO of a $10 billion company emphasizes the importance of self-doubt as a key to success rather than a weakness.

A new report reveals that side hustlers are earning an average of $891 per month, highlighting the growing gig economy. Thousands of Americans have faced challenges with fintech services, losing access to bank accounts due to unfulfilled promises. Investors are anticipating GE Aerospace's upcoming earnings report, with key factors to consider. The interplay between technology, finance, and policy continues to shape economic trends and individual financial decisions.

From retirement planning to investment strategies, this week's news underscores the importance of staying informed and adaptable. The global reach of American companies is evident, with developments in China and domestic policy changes affecting market dynamics. As we navigate these complex financial times, it's clear that both caution and opportunity coexist in today's economic landscape.

1. Why Inflation Is Making It Hard To Retire And Stay Retired - Read more

2. Chip Stocks Sell-Off Fuels Calls To Buy the Dip - Read more

3. Amazon Says Prime Day 2024 Set Records - Read more

4. Federal Appeals Court Blocks Biden's SAVE Student Loan Repayment Plan - Read more

5. American Express Stock Slips After Revenue Comes in Lighter Than Expected - Read more

6. Eli Lilly Gets Green Light To Sell Weight-Loss Drug in China - Read more

7. A Balanced Portfolio Always Comes with Regrets - Read more

8. CEO of $10 billion company: Self-doubt is a ‘really important’ key to success - not a weakness - Read more

9. Side hustlers make an average of $891 per month, says new report—‘It’s quite a bit more lucrative’ - Read more

10. How thousands of Americans got caught in fintech’s false promise and lost access to bank accounts - Read more

11. What You Need To Know Ahead of GE Aerospace's Earnings - Read more

Crypto News

The crypto world was rocked by a major security breach at India's WazirX exchange, resulting in the theft of over $230 million in digital assets. BlockFi is set to begin processing crypto distributions via Coinbase this month, marking a significant step in its bankruptcy proceedings. Reddit has announced the discontinuation of Animated Collectible Expressions for Polygon NFTs, signaling a shift in its digital collectibles strategy. Polygon is preparing for a substantial upgrade in September, which will involve migrating MATIC tokens to the new POL token.

The crypto ETF landscape is expanding, with five spot Ethereum ETFs, including one from Fidelity, scheduled to launch on July 23 according to Cboe exchange notices. Bitforex has reopened withdrawals following a police investigation, bringing relief to its users. Bitcoin mining is experiencing a resurgence, but with a twist – it's now intertwined with AI technology. Galaxy Digital has made a significant move by acquiring nearly $1 billion in Ethereum through a deal with CryptoManufaktur.

Cboe has confirmed that Ethereum ETFs will indeed begin trading on July 23, potentially bringing more institutional interest to the cryptocurrency. Gemini has settled a $36 million crypto theft lawsuit, resolving a major legal challenge for the exchange. Speculation is swirling around Elon Musk's potential appearance at a Bitcoin conference, fueled by his profile photo change and his plane landing in Tennessee. The concept of Bitcoin as a national asset is gaining traction, reflecting the cryptocurrency's growing influence on global finance.

This week's news highlights the ongoing evolution of the crypto industry, from security challenges to innovative financial products. The launch of Ethereum ETFs and major acquisitions in the space suggest increasing mainstream adoption and institutional interest in cryptocurrencies. As the crypto landscape continues to mature, it faces both opportunities for growth and challenges in security and regulation that will shape its future trajectory.

1. India’s WazirX Exchange Hit by Major Security Breach: Over $230 Million in Crypto Assets Stolen - Read more

2. BlockFi to begin processing crypto distributions via Coinbase this month - Read more

3. Reddit Is Sunsetting Animated Collectible Expressions for Polygon NFTs - Read more

4. Polygon Will Migrate MATIC Tokens to POL During September Upgrade - Read more

5. Five spot Ethereum ETFs, including Fidelity, will launch on July 23, exchange Cboe says in notices - Read more

6. Bitforex reopens for withdrawals after police investigation - Read more

7. Bitcoin Mining Is So Back (Except It's AI Now) - Read more

8. Galaxy Digital Acquires Nearly $1 Billion in Ethereum in CryptoManufaktur Deal - Read more

9. Ethereum ETFs Begin Trading on July 23, Cboe Confirms - Read more

10. Gemini Settles $36M Crypto Theft Lawsuit - Read more

11. Elon Musk Allegedly to Speak at Bitcoin Conference! He Changed His Profile Photo, His Plane Landed in Tennessee - Read more

12. Bitcoin as National Asset - Read more

Artificial Intelligence

OpenAI researchers have devised an innovative approach to improve AI explainability by pitting two AI models against each other in a game of deception. The AI industry sees a new powerhouse emerge as the 'godmother of AI' launches a startup already valued at $1 billion. OpenAI is exploring potential collaboration with Broadcom to develop a new AI chip, signaling a move towards custom hardware solutions. Meta has followed Apple's lead in restricting AI releases in EU countries, highlighting the complex regulatory landscape for AI technologies.

Apple showcases its open AI capabilities, with new models outperforming offerings from Mistral and Hugging Face. Anthropic is developing a new screenshot tool for its AI assistant Claude, potentially expanding its functionality. Ukraine is rapidly developing AI-enabled war drones, demonstrating the increasing role of AI in modern warfare. The introduction of GPT-4o mini represents a step forward in cost-efficient AI intelligence.

Proton launches a privacy-focused AI writing assistant for email that operates on-device, addressing user data concerns. A study suggests that the best workplaces for millennials are well-positioned to thrive in the AI era due to high levels of employee trust. A new method for spotting deepfakes involves looking for telltale signs in the eyes of subjects in manipulated images. The week's news underscores the rapid advancement of AI across various sectors, from consumer applications to military technology.

The focus on AI explainability and privacy-first approaches indicates a growing emphasis on responsible AI development. Competition in the AI chip market is intensifying, with major tech companies exploring custom hardware solutions. As AI continues to evolve, it's clear that its impact will be far-reaching, affecting everything from workplace dynamics to international conflicts.

1. OpenAI researchers pit two AI models against each other in a game of deception to improve AI explainability - Read more

2. The ‘godmother of AI’ has a new startup already worth $1 billion - Read more

3. OpenAI Has Talked to Broadcom About Developing New AI Chip - Read more

4. Meta Follows in Apple's Footsteps by Restricting AI Releases in EU Countries - Read more

5. Apple shows off open AI prowess: new models outperform Mistral and Hugging Face offerings - Read more

6. Anthropic working on new screenshot tool for Claude AI - Read more

7. Ukraine rushes to create AI-enabled war drones - Read more

8. GPT-4o mini: advancing cost-efficient intelligence - Read more

9. Proton launches ‘privacy-first’ AI writing assistant for email that runs on-device - Read more

10. The Best Workplaces for Millennials Will Thrive in AI World, Thanks To Employee Trust - Read more

11. Want to spot a deepfake? Look for the stars in their eyes - Read more

Top Article Picks this week

The origins of modern probability theory are explored, highlighting the revolutionary thinker behind this fundamental mathematical concept. Scientists are intrigued by a drug that not only extended the lifespans of mice but also kept them looking young, potentially opening new avenues in anti-aging research. The phenomenon of "Zillow Gone Wild" has taken social media by storm, showcasing unique and often outrageous real estate listings. Nintendo's 1989 innovations are revisited, emphasizing their lasting impact on the video game industry.

A study delves into the mechanisms of how political opinions change, shedding light on the malleability of our beliefs. The publishing industry grapples with AI's potential to be either a destructive force or a lucrative opportunity. Techniques for improving imagination are explored, offering insights into enhancing creativity and problem-solving skills. The trend of waking up at 5 AM is examined, questioning whether it truly holds the key to health and happiness.

A poignant personal account details the devastating impact of early-onset Alzheimer's on a creative individual. The capability of AI to strategically deceive humans raises ethical concerns and potential societal implications. An unusual experiment in philanthropy sees an heiress allowing strangers to decide how to spend her millions. This week's articles span a wide range of topics, from scientific breakthroughs to cultural phenomena and technological ethics.

The intersection of technology and human experience is a recurring theme, particularly in discussions about AI and video games. Health and longevity remain at the forefront of scientific inquiry, with both biological and lifestyle factors under scrutiny. As we navigate an increasingly complex world, these stories highlight the importance of understanding history, embracing innovation, and critically examining societal trends.

1. The Man Who Invented Modern Probability (Reading time: 12 min) - Read here

2. Scientists Intrigued by Drug That Extended Lifespans of Mice While Keeping Them Young-Looking (Reading time: 5 min) - Read here

3. The Wild Rise of Zillow Gone Wild (Reading time: 10 min) - Read here

4. In 1989, Nintendo Changed How We Play Video Games Forever (Reading time: 3 min) - Read here

5. How Political Opinions Change (Reading time: 4 min) - Read here

6. Is AI the Bitter End - or the Lucrative Future - of Book Publishing? (Reading time: 20 min) - Read here

7. How to get better at having a good imagination (Reading time: 4 min) - Read here

8. The Cult of 5am: Is Rising at Dawn the Secret of Health and Happiness? (Reading time: 10 min) - Read here

9. ‘It comes for your very soul’: how Alzheimer’s undid my dazzling, creative wife in her 40s (Reading time: 30 min) - Read here

10. AI can strategically lie to humans. Are we in trouble? (Reading time: 10 min) - Read here

11. An Heiress Just Let 50 Strangers Pick How She Spent Her Millions. Will Others Try It? (Reading time: 4 min) - Read here

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Book of the week

Ron Chernow's "The House of Morgan" is a comprehensive and meticulously researched chronicle of one of America's most influential financial dynasties. The book traces the evolution of the Morgan empire from its humble beginnings in Victorian London to its pivotal role in shaping modern finance. Chernow skillfully weaves together the personal stories of four generations of Morgans with the broader economic and political landscape of their times.

The narrative offers a fascinating glimpse into the rarefied world of the American and British elite, showcasing the Morgans' connections to historical figures such as Charles Lindbergh, Henry Ford, and Winston Churchill. Through his vivid storytelling, Chernow illuminates the immense power wielded by the Morgan firms and their profound impact on global finance. The author doesn't shy away from exploring the controversial aspects of the Morgans' business practices, presenting a balanced view of their triumphs and shortcomings.

Chernow's work stands out for its ability to make complex financial concepts accessible to the general reader while maintaining scholarly rigor. The book's scope is truly impressive, covering over 150 years of financial history and culminating with the 1987 financial crisis. "The House of Morgan" not only tells the story of a single family but also serves as a lens through which to understand the development of modern capitalism. Chernow's prose is engaging and clear, making the 800-page tome a surprisingly quick read despite its dense subject matter.

The book's accolades, including the 1990 National Book Award for Nonfiction, are well-deserved recognition of its contribution to financial literature. For anyone interested in the intersection of wealth, power, and history, "The House of Morgan" is an essential read. Ultimately, Chernow's work provides invaluable insights into the money and influence behind major historical events of the last century and a half, making it a timeless piece of financial history.

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