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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

In this week's roundup, we explore a diverse range of economic and business developments. Grocery inflation since 2019 appears to be accurately reflected in BLS data, while Volkswagen faces potential plant closures and job cuts due to increasing competition. Brazil's government takes a stand against Elon Musk's X platform and Starlink, raising concerns about digital freedom. As September historically proves challenging for stocks, investors grapple with the decision to sell or hold.

Nvidia receives a subpoena from the US Department of Justice, hinting at potential regulatory scrutiny. On a positive note, Mark Cuban's sale of a company for $5.7 billion resulted in 91% of his employees becoming millionaires. Lyft announces a restructuring of its bike and scooter rental program, accompanied by job cuts. The Nordstrom family makes a bold $3.8 billion offer to take the retailer private, while HP Enterprise reports higher-than-expected revenue driven by AI demand.

Lastly, despite solid second-quarter profits, banks face ongoing concerns as the rate of risky loans remains at an 11-year high.

1. Grocery Inflation Since 2019: BLS Data is Probably About Right - Read more

2. Volkswagen Warns of Possible Plant Closures, Job Cuts Amid Rising Competition - Read more

3. Brazil Bans Elon Musk's X and Takes Aim at Starlink—What You Need to Know - Read more

4. September Is the Worst Month For Stocks. But Should You Sell? - Read more

5. Nvidia gets subpoena from US DoJ, Bloomberg News reports - Read more

6. Mark Cuban turned 91% of his employees into millionaires when he sold a company for $5.7 billion - Read more

7. Lyft to Restructure Bike and Scooter Rental Program, Cut Some Jobs - Read more

8. Nordstrom Family Makes $3.8 Billion Offer To Take Retailer Private - Read more

9. HP Enterprise Posts Higher-Than-Expected Revenue Driven by AI Demand - Read more

10. Banks posted solid second quarter profits. The bad news? The rate of dicey loans stayed at an 11-year high. - Read more

Crypto News

This week's crypto and blockchain news highlights several significant developments. The SEC is considering challenging FTX's bankruptcy estate plan to repay customers with stablecoins, potentially complicating the recovery process for affected users. Qatar has introduced a new regulatory framework for digital assets, improving clarity for cryptocurrency operations in the country. In Ukraine, a group of individuals posing as police officers were arrested for extorting $250,000 in Tether from an entrepreneur, highlighting ongoing security concerns in the crypto space.

Bitcoin experienced a dip, touching a one-month low as traders hedged their positions ahead of payroll data releases. Polygon developers announced a transition of the MATIC token to POL, signaling a significant change for the network. Robinhood reached a $3.9 million settlement over blocked crypto withdrawals, addressing past user complaints. Former BitMEX CEO Arthur Hayes predicts Bitcoin could "slowly leak" towards $50,000 before its next surge.

Polygon Labs CEO introduced AggLayer, aiming to connect various Web3 networks, including major L1s like Ethereum and Solana. Lastly, spot Bitcoin ETFs extended their negative streak, while Ethereum ETFs also moved into the red, reflecting current market sentiment.

1. SEC Might Challenge FTX Bankruptcy Estate From Paying Back Customers With Stablecoins - Read more

2. Qatar introduces regulatory framework for digital assets - Read more

3. Fake Ukrainian Cops Apprehended for Extorting $250,000 in Tether from Entrepreneur - Read more

4. Qatar improves regulatory clarity for cryptocurrency with newly released framework by major SEZ - Read more

5. Bitcoin Touches One-Month Low as Glum Traders Hedge for Payrolls - Read more

6. Polygon developers transition MATIC token to POL - Read more

7. Robinhood reaches $3.9M settlement over blocked crypto withdrawals - Read more

8. Bitcoin Could ‘Slowly Leak’ Toward $50,000 Before Its Next Surge: Arthur Hayes - Read more

9. AggLayer will connect all Web3, including L1s like Ether and Solana — Polygon Labs CEO - Read more

10. Spot Bitcoin ETFs Extend Negative Streak, Ethereum ETFs Back in Red - Read more

Artificial Intelligence

This week's AI news covers a wide range of developments and applications. OpenAI is planning to build its own AI chips using TSMC's advanced 1.6 nm A16 process node, potentially enhancing its computational capabilities. The intersection of generative AI and CRISPR technology has led to the creation of OpenCRISPR-1, opening new possibilities in genetic research. A new AI tool has been developed to accurately portray metabolic states, which could have significant implications for medical research and diagnostics.

In education, the UK's first 'teacherless' AI classroom is set to open in London, sparking discussions about the future of education. Tesla announced plans to reveal its Robotaxi at California's Warner Bros. Studio, hinting at advancements in autonomous transportation. The integration of AI in robotics continues to grow across various industries, with statistics showing increasing market size and robot types. Major companies like JPMorgan and Walmart are opting for internal gen AI assistants after initially restricting usage, indicating a shift in corporate AI strategies.

The article on AI's birth at a US summer camp 68 years ago provides historical context for the field's development. On the application front, a new AI app is helping people with ADHD manage their condition. Amazon's Cloud CEO made headlines with leaked audio suggesting human developers might soon be obsolete. Environmental concerns are raised as tech firms are criticized for keeping users in the dark about AI's climate costs. In scientific advancements, AI is now predicting earthquakes with unprecedented accuracy.

In business news, Amazon-backed Anthropic launched Claude Enterprise for businesses, while OpenAI co-founder Sutskever's new safety-focused AI startup SSI raised an impressive $1 billion.

1. OpenAI plans to build its own AI chips on TSMC's forthcoming 1.6 nm A16 process node - Read more

2. OpenCRISPR-1: Generative AI Meets CRISPR - Read more

3. New AI tool accurately portrays metabolic states - Read more

4. UK's first 'teacherless' AI classroom set to open in London - Read more

5. Tesla Plans Robotaxi Reveal at California Warner Bros. Studio - Read more

6. AI in Robotics Statistics By Industry, Robot Type And Market Size - Read more

7. Why companies including JPMorgan and Walmart are opting for internal gen AI assistants after initially restricting usage - Read more

8. AI was born at a US summer camp 68 years ago. Here’s why that event still matters today - Read more

9. AI App Helps People with ADHD - Read more

10. In Leaked Audio, Amazon Cloud CEO Says Human Developers Will Soon Be a Thing of the Past - Read more

11. Tech Firms Are Keeping Users In The Dark On AI’s Climate Costs - Read more

12. Artificial Intelligence Predicts Earthquakes With Unprecedented Accuracy - Read more

13. Amazon-Backed Anthropic Launches Claude Enterprise for Businesses - Read more

14. OpenAI co-founder Sutskever's new safety-focused AI startup SSI raises $1 billion - Read more

Top Article Picks this week

This week's collection of articles covers a range of personal development, philosophy, and lifestyle topics. A guide on training your brain to achieve goals in 60 days offers practical self-improvement advice. "What We Believed" presents 31 life lessons learned over 31 years, providing insights from personal experience. An intriguing social experiment is detailed where an Austrian heiress tasked 50 diverse individuals with redistributing 25 million euros, challenging them to reach a consensus.

For those interested in survival skills, an article discusses the order of operations in critical situations. Career advice is offered on how to stop engaging in low-value work, encouraging readers to focus on more impactful tasks. A poignant piece provides guidance on dealing with dying parents, addressing a difficult but universal human experience. In scientific news, Saturn's iconic rings are predicted to vanish in just six months, highlighting an astronomical phenomenon.

For those seeking to improve relationships, an article explores better ways to engage in arguments. Lastly, a relatable piece discusses the challenges of maintaining friendships when financial situations differ, specifically addressing the issue of expensive group vacations when on a tight budget.

1. How to Train Your Brain to Get What You Want in 60 Days (Reading time: 6 min) - Read here

2. What We Believed (Reading time: 5 min) - Read here

3. 31 lessons from 31 years (Reading time: 2 min) - Read here

4. How to Give Away a Fortune. An Austrian heiress recruited fifty people from all walks of life to redistribute twenty-five million euros—if they could agree on how to spend it. (Reading time: 30 min) - Read here

5. Order of Operations in a Survival Situation (Reading time: 10 min) - Read here

6. Stop Doing Low-Value Work (Reading time: 3 min) - Read here

7. When Your Parents Are Dying: The Simplest, Most Difficult and Redemptive Life-Advice You’ll Ever Receive (Reading time: 6 min) - Read here

8. Saturn’s majestic rings will vanish in just six months from now (Reading time: 5 min) - Read here

9. Is There a Better Way to Have an Argument? (Reading time: 8 min) - Read here

10. I’m Broke, But My Friends Keep Planning Expensive Group Vacations (Reading time: 4 min) - Read here

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Book of the week

Malcolm Gladwell's "David and Goliath" offers a thought-provoking exploration of how perceived disadvantages can become unexpected strengths. Through a series of engaging anecdotes and case studies, Gladwell challenges conventional wisdom about underdogs and advantages. The book begins by reexamining the biblical tale of David and Goliath, presenting a fresh perspective on the shepherd boy's victory.

Gladwell then applies this lens to various modern scenarios, from civil rights movements to educational disparities. He argues that adversity can foster resilience and innovation, often leading to surprising outcomes. The author's signature storytelling style makes complex ideas accessible, weaving together historical events, scientific research, and personal narratives. While some critics may find his conclusions oversimplified, Gladwell's ability to reframe familiar concepts is undeniably thought-provoking.

"David and Goliath" challenges readers to reconsider their assumptions about power, success, and the nature of advantages. Ultimately, the book leaves us with a renewed appreciation for the potential of underdogs and the hidden strengths that can emerge from seemingly insurmountable obstacles. Despite occasional overreaching in its arguments, "David and Goliath" remains a compelling read that encourages us to view challenges in a new light.

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