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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 stock market has been in turmoil lately, with the "Magnificent Seven" tech giants losing a staggering $3 trillion in value amid a prolonged selloff. Analysts at Goldman Sachs warn that the chance of a US recession in 2025 has now risen to 25%. Despite the volatility, Asian and European stocks have managed to rebound somewhat.

One economist believes the AI-fueled bubble will soon regain momentum, even as stocks continue to underperform. The psychology behind a 1,000-point market drop can be cruel, and a majority of Americans mistakenly believe the US economy is already in recession. Commodities have also faltered amidst the broader market rout.

On a positive note, Reddit has narrowed its losses as advertising revenue surges. However, credit card delinquency rates in the US have hit levels not seen in 12 years. Dell, meanwhile, has delivered a harsh blow to its HR department with 12,500 layoffs. The CEO of Reddit says users will soon be able to earn money on the platform.

Airbnb stock has sunk on warnings of slowing US demand, while Super Micro Computer's shares plummeted 20% after earnings. Some experts wonder if the post-pandemic travel boom is finally coming to an end. Interestingly, a 45-year-old mechanic quit his full-time job to focus on his side hustle, which now earns him $14,200 per month. And Warren Buffett's Berkshire Hathaway now owns more T-bills than the Federal Reserve itself.

1. Magnificent Seven' Losses Approach $3 Trillion Amid Weeks-Long Selloff - Read more

2. Goldman Analysts Say Chance of US Recession in 2025 Has Risen to 25% - Read more

3. Asian and European stocks rebound amid global volatility - Read more

4. Despite the stock crash, the AI-fueled bubble will soon regain momentum, economist says - Read more

5. How Long Can Stocks Underperform? - Read more

6. A Few Thoughts On the Selloff - Read more

7. The Cruel Psychology of the 1,000-Point Drop - Read more

8. A Majority of Americans Mistakenly Believe the US Economy is in a Recession - Read more

9. Why Commodities Faltered Amid Stock Market Rout - Read more

10. Reddit Narrows Losses as Revenue Surges on Advertising Growth - Read more

11. US Credit Card Delinquency Rates Hit Levels Not Seen in 12 Years - Read more

12. Dell crushes its HR department with 12,500 layoffs in a single day - Read more

13. Reddit CEO says users will soon be able to earn themselves money - Read more

14. Airbnb Stock Sinks on Warning About Slowing US Demand - Read more

15. What's Next for Super Micro Computer After Stock's 20% Post-Earnings Plunge? - Read more

16. Is the Post-Pandemic Travel Boom Finally Ending? - Read more

17. 45-year-old mechanic quit his full-time job for his side hustle—now he makes $14,200 a month: My paycheck is ‘very consistent’ - Read more

18. Warren Buffett now owns more T-bills than the Federal Reserve - Read more

Crypto News

The US Securities and Exchange Commission (SEC) has asked a New York court to deny Coinbase's "breathtakingly broad" subpoena request. Meanwhile, Europe's fourth largest hedge fund has put nearly $500 million into Bitcoin ETFs, according to a recent filing.

Another European hedge fund, this time revealing $420 million in Bitcoin ETF investments. The DeFi market has seen liquidations hit a yearly high above $400 million in the past 24 hours amid broader market turbulence. Xapo Bank is now offering interest-bearing bitcoin accounts in the UK after "passporting" its license. BlackRock's Spot Ether ETF investors bought the dip as Ether tanked in value.

After the recent selloff, analysts are weighing in on what's next for Bitcoin and Ether. Interestingly, iShares BTC ETF investors weathered the major price drop with zero outflows. Notcoin led the crypto rebound, jumping 30% as Bitcoin and Ethereum regained their footing. Bitcoin hodlers have scooped up $23 billion worth of the asset in the past 30 days, signaling strong demand.

The SOL/ETH ratio hit a new all-time high amid the market turmoil. Bitcoin miner Core Scientific saw its shares spike after signing a $2 billion computing contract. Brazil's Securities and Exchange Commission has approved a Solana-based ETF. Grayscale, Bitwise, and NYSE American are asking for a rule change to allow options on spot Ethereum ETFs. Payment processor Stripe has partnered with Bitstamp to make crypto buying easier for European users. Metaplanet is raising $68 million, much of which will be used to buy more Bitcoin.

1. SEC Asks NY Court to Deny Coinbase’s ‘Breathtakingly Broad’ Subpoena Request - Read more

2. Europe’s fourth largest hedge fund put nearly $500M in Bitcoin ETFs — Filing - Read more

3. European Hedge Fund Reveals $420 Million in Bitcoin ETF Investments - Read more

4. DeFi liquidations hit yearly high above $400 million in past 24 hours amid market turbulence - Read more

5. Xapo Bank to offer interest-bearing bitcoin accounts in UK after 'passporting' its license - Read more

6. BlackRock's Spot Ether ETF Investors Bought the Dip as Ether Tanked - Read more

7. What's Next For Bitcoin and Ether After The Recent Selloff? - Read more

8. iShares BTC ETF investors weather major price drop with zero flows - Read more

9. Notcoin Leads Crypto Rebound With 30% Jump as Bitcoin, Ethereum Regain Footing - Read more

10. ‘Something is happening’ — Bitcoin hodlers scooped $23B in the past 30 days - Read more

11. SOL/ETH ratio hits new all-time high amid market turmoil - Read more

12. Bitcoin Miner Core Scientific Shares Spike After Signing $2B of Additional Computing Contract - Read more

13. Brazil’s Securities and Exchange Commission Approves Solana-Based ETF - Read more

14. Grayscale, Bitwise and NYSE American ask for rule change to allow options on spot Ethereum ETFs - Read more

15. Stripe Partners With Bitstamp to Make Crypto Buying Easier for European Users - Read more

16. Metaplanet Is Raising $68 Million, Says Most of It Will Be Used to Buy More Bitcoin - Read more

Artificial Intelligence

OpenAI co-founder Sam Altman has left the company to join Anthropic, while OpenAI's chairman Greg Brockman is taking an extended leave. In another development, Elon Musk is suing OpenAI again, alleging "deceit of Shakespearean proportions." Leaked documents reveal that Nvidia has been scraping "a human lifetime" of videos per day to train its AI models.

Meanwhile, AI chip startup Groq has raised $640 million to meet the soaring demand for fast AI inference. An AI system has been hailed as a "game changer" for its ability to detect hidden heart attack risks. OpenAI has also developed a text watermarking method to detect content generated by ChatGPT, which the company has been considering releasing.

Zoom is making a play to challenge Google and Microsoft with its AI-driven document features. An AI system has been shown to fast-track dementia diagnoses by tapping into "hidden information" in brain waves. Chinese AI-related companies have reached a total of 1.67 million in the first half of 2024, amid the ChatGPT frenzy. Language models are now capable of listening while speaking, according to Japanese scientists.

These AI firms are publishing the world's most highly cited work. Apple's upcoming "Apple Intelligence" feature will be heavily censored, the company has revealed. Audible is testing an AI-powered search feature to enhance its audiobook experience. Verizon is using AI and machine learning to prevent costly fiber cuts. The US Army has received Palantir's AI-fueled TITAN prototype, a promising development in military technology.

1. OpenAI co-founder Schulman leaves for Anthropic, Brockman takes extended leave - Read more

2. Elon Musk sues OpenAI again, alleging ‘deceit of Shakespearean proportions’ - Read more

3. Leaked Documents Show Nvidia Scraping ‘A Human Lifetime’ of Videos Per Day to Train AI - Read more

4. Groq Raises $640M To Meet Soaring Demand for Fast AI Inference - Read more

5. Game changer' AI detects hidden heart attack risk - Read more

6. OpenAI has built a text watermarking method to detect ChatGPT-written content — company has mulled its release over the past year - Read more

7. Zoom Is Going After Google and Microsoft With AI-Driven Docs - Read more

8. AI fast-tracks dementia diagnoses by tapping into ‘hidden information’ in brain waves - Read more

9. These AI firms publish the world’s most highly cited work - Read more

10. China’s AI-related companies total 1.67 million in first half of 2024 amid ChatGPT frenzy - Read more

11. Language Model Can Listen While Speaking - Read more

12. Japanese scientists develop simplified EUV scanner that can make production of chips considerably cheaper - Read more

13. Apple Intelligence will be heavily censored - Read more

14. Audible is testing an AI-powered search feature - Read more

15. Verizon uses AI & machine learning to prevent fiber cuts - Read more

16. Palantir sends AI-fueled TITAN prototype to Army - Read more

Top Article Picks this week

There is a movement desperately trying to get people to have more babies, as experts grapple with the sudden rise of type 2 diabetes in children. Meanwhile, the misery of "company jewel-box heroes" has led to a revival in CD sales. Experts argue that the stock market slump doesn't necessarily mean a recession is imminent. However, there are 10 reasons why AI may be overrated, according to some analysts.

The "empathy punishment" phenomenon highlights complex social dynamics. Meanwhile, 7 shocking facts show the differences between drinking cold versus room temperature water. A doctor explains why they prescribe walking to their patients, as research suggests creative habits can ward off dementia symptoms, even for those who start later in life.

There are 4 key reasons why someone might always feel hungry. Psychologists also offer advice on how to stop overthinking, as investors navigate a high interest rate environment. Finally, America's hiring boom appears to be officially over, marking a potential shift in the job market.

1. The movement desperately trying to get people to have more babies (Reading time: 16 min) - Read here

2. Understanding the sudden rise of type 2 diabetes in children (Reading time: 12 min) - Read here

3. The Misery of Company (Reading time: 8 min) - Read here

4. Jewel-Box Heroes: Why the CD Revival Is Finally Here (Reading time: 8 min) - Read here

5. The stock market slump doesn't have to mean a recession is near (Reading time: 10 min) - Read here

6. 10 reasons why AI may be overrated (Reading time: 14 min) - Read here

7. The Empathy Punishment (Reading time: 25 min) - Read here

8. 7 Shocking Facts About Drinking Water Cold Vs. Room Temperature (Reading time: 3 min) - Read here

9. I'm a Doctor. This Is Why I Prescribe Walking to My Patients (Reading time: 3 min) - Read here

10. How to Calculate the Value of an MBA (Reading time: 5 min) - Read here

11. The Creative Habit That Might Ward Off Dementia Symptoms, Even if You Start Later in Life (Reading time: 2 min) - Read here

12. 4 Reasons Why You’re Always Hungry (Reading time: 4 min) - Read here

13. How to Stop Overthinking (Reading time: 8 min) - Read here

14. How to Invest During a High Interest Rate Era (Reading time: 12 min) - Read here

15. America's hiring boom is officially over (Reading time: 8 min) - Read here

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Book of the week

Mark Manson's "Models: Attract Women Through Honesty" offers a refreshing take on the often-problematic genre of dating advice for men. Unlike many books in this category that promote manipulative tactics, Manson advocates for authenticity and emotional intelligence as the cornerstones of attraction. The author argues convincingly that genuine confidence and vulnerability are far more appealing than rehearsed pickup lines or artificial personas.

Manson's approach emphasizes personal growth and self-improvement, encouraging readers to develop their own interests, values, and social skills rather than trying to conform to a predetermined "alpha male" archetype. The book provides practical advice on overcoming social anxiety, engaging in meaningful conversations, and building genuine connections with women. Manson doesn't shy away from addressing toxic beliefs and behaviors that can sabotage relationships, offering insights into how men can cultivate healthier attitudes towards dating and women in general.

While the book is primarily targeted at heterosexual men, many of its principles about honesty and self-development are universally applicable. The author's writing style is direct and often humorous, making potentially uncomfortable topics more accessible and engaging. Some readers might find Manson's blunt approach challenging, but it serves the book's overarching theme of honesty well. "Models" stands out in its field for promoting respect, consent, and mutual understanding between partners.

By focusing on emotional processes rather than logical "formulas" for seduction, Manson provides a more holistic and ethical framework for dating. The book's popularity and positive reception suggest that many men are hungry for a more authentic approach to relationships. Ultimately, "Models" is not just about attracting women, but about becoming a more confident, self-aware, and emotionally intelligent person - qualities that enhance all aspects of life, not just romantic pursuits.

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