Grow Smart Income - week 37, 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

Stellantis has temporarily halted production of its Jeep Wrangler and Grand Cherokee models due to ongoing supply chain disruptions. Meanwhile, Dell and Palantir have both been added to the S&P 500, leading to a significant jump in their shares. Over the last 31 years, the stock market has experienced periods of both prosperity and volatility, showcasing its long-term resilience. In other news, several AstraZeneca employees have been detained in China amid investigations into data privacy and drug imports.

As Apple prepares for its highly anticipated iPhone 16 launch event, analysts are keeping a close eye on how this may influence the tech giant's stock performance. Looking ahead, GameStop's earnings on Tuesday will be closely watched by investors and enthusiasts alike. On Wall Street, stocks took a tumble as bond prices rallied, fueled by uncertainty over recent job data. JP Morgan has expressed skepticism about Super Micro stock, suggesting there is no clear rationale for new investors to buy in.

Despite a volatile August, ETFs have remained strong, staying on track for a record year of inflows. Finally, former President Donald Trump has suffered a significant financial blow, losing $4 billion in connection to Truth Social's struggles. These developments reflect ongoing uncertainty in the global market, with technology, stocks, and geopolitical tensions at the forefront of investor concerns.

  1. Stellantis Temporarily Pauses Jeep Wrangler, Grand Cherokee Production - Read more

  2. Dell and Palantir to join S&P 500; shares of both jump - Read more

  3. 31 Years of Stock Market Returns - Read more

  4. AstraZeneca Employees Held in China for Data Privacy, Drug-Import Investigations - Read more

  5. How Apple’s Highly Anticipated iPhone 16 Launch Event Could Affect Its Stock - Read more

  6. What You Need to Know Ahead of GameStop Earnings Tuesday - Read more

  7. Stocks Tumble, Bonds Rally as Jobs Data Fuels Uncertainty on Wall Street - Read more

  8. There's No 'Clear Rationale' for New Investors to Buy Super Micro Stock: JP Morgan - Read more

  9. August Was Volatile - But ETFs Stayed On Track for a Record Year of Inflows - Read more

  10. Trump has lost $4B in Truth Social wipeout - Read more

"If the thing that I wanted most had happened ... I wouldn't be where I am."

Conan O'Brien

Crypto News

Bitcoin short-term holders are facing unrealized losses as the market continues to show signs of weakness, according to Glassnode. Over the past six months, Bitcoin transactions have dropped by 30%, reflecting waning interest amid the ongoing price slump. On the international front, Visa and Santander have been selected by Brazil’s Central Bank to participate in the second phase of a central bank digital currency (CBDC) pilot. The Ethereum Foundation is preparing to release a financial report, revealing that it holds approximately $650 million in its main wallet, according to Justin Drake.

In an effort to diversify, Tether has invested $100 million in an agriculture firm, a move signaling heightened competition within the stablecoin space. VanEck has announced plans to close and liquidate its Ethereum futures ETF (EFUT) as market sentiment cools around crypto investments. Meanwhile, a New York judge has ordered the SEC to provide specific documents in its ongoing case with Coinbase, though SEC Chair Gary Gensler's testimony has been excluded.

Ethereum and Bitcoin have both hit troubling lows, with liquidations across the market totaling $272 million, adding further pressure to the crypto ecosystem. Several factors are expected to influence the crypto markets this week, ranging from regulatory developments to macroeconomic indicators. Bitcoin continues to struggle, logging its longest negative streak in recent memory, while Ethereum demand appears to be fading. As the sector faces growing challenges, these developments underscore the ongoing volatility and uncertainty gripping the crypto markets.

  1. Bitcoin short-term holders' unrealized losses emerge as market weak spot: Glassnode - Read more

  2. Bitcoin transactions dive 30% in 6 months amid BTC price ‘disinterest’ - Read more

  3. Visa and Santander Selected by Brazil’s Central Bank for a Second Phase of CBDC Pilot - Read more

  4. Ethereum Foundation to release financial report, holds roughly $650 million in main wallet: Justin Drake - Read more

  5. Tether invests $100M in agriculture firm as stablecoin competition grows - Read more

  6. VanEck announced that it plans to close and liquidate its Ethereum futures ETF (EFUT). - Read more

  7. NY judge orders SEC to provide some documents in Coinbase case, but excludes Gensler testimony - Read more

  8. Ethereum Plunges to 2024 Low and Bitcoin Sinks as Liquidations Hit $272 Million - Read more

  9. 3 Things That Could Influence Crypto Markets This Week - Read more

  10. Weekly ETF Recap: Bitcoin Sees Longest Negative Streak, Ethereum Demand Missing - Read more

"Optimism is the one quality more associated with success and happiness than any other."

Brian Tracy

Artificial Intelligence

Michael Dell dismisses concerns about a slowdown in artificial intelligence, suggesting that such talk is exaggerated and that AI development is still progressing rapidly. Tesla’s stock is showing bullish signals thanks to its ambitious AI roadmap, with China aiming for full self-driving capabilities by early 2025. AlphaProteo has made strides in biotechnology by generating novel proteins, offering new potential for health research. Meanwhile, OpenAI has achieved a significant milestone, surpassing 1 million paying business users for its enterprise services.

Volvo's new EX90 SUV, built on NVIDIA's AI and accelerated computing platform, showcases the deepening integration of AI into the automotive industry. Salesforce is expanding its AI capabilities by acquiring voice agent firm Tenyx, intensifying the competition for top AI talent. Despite the underwhelming performance of AI gadgets so far, Apple is working on new innovations to change the narrative. Microsoft is also embracing AI, leveraging it to create a more inclusive work environment.

In a different corner of AI, OpenAI's upcoming models, like Strawberry and Orion, are expected to carry a hefty price tag, with costs reportedly reaching up to $2,000 per model. YouTube is developing AI detection tools for music and faces, while also giving creators more control over how their content is used for AI training. As these developments unfold, concerns are growing over the philosophical implications of AI, with some fearing that these technologies could make us less human rather than merely replacing jobs.

The accelerating pace of AI innovation continues to generate excitement, but also raises questions about its broader impact on society.

  1. Michael Dell on AI: Talk of a slowdown is way overblown - Read more

  2. Tesla Stock Flashes Buy Signal On AI 'Roadmap'; China Full Self-Driving By Early 2025 - Read more

  3. AlphaProteo generates novel proteins for biology and health research - Read more

  4. OpenAI hits new milestone with 1M paying business users across enterprise services - Read more

  5. Volvo Cars EX90 SUV Rolls Out, Built on NVIDIA Accelerated Computing and AI - Read more

  6. Salesforce to acquire AI voice agent firm Tenyx, joining AI talent race - Read more

  7. AI gadgets have been a bust so far. Apple aims to change that - Read more

  8. Microsoft is turning to AI to make its workplace more inclusive - Read more

  9. OpenAI's Next-Generation Models Could Reportedly Cost $2,000. The Sam Altman-led company's new artificial intelligence models, such as Strawberry and Orion, likely won't be cheap. - Read more

  10. YouTube is developing AI detection tools for music and faces, plus creator controls for AI training - Read more

  11. The Robots Are Coming for Our Souls. The problem with artificial intelligence isn’t that robots will replace us at work but that they will make us less human. - Read more

"I'll tell you what bravery really is. Bravery is just determination to do a job that you know has to be done."

Audie Murphy

Top Article Picks this week

As we move away from the Information Age, reputation is becoming the new currency, dictating much of our personal and professional success. In the business world, it’s essential to follow up on every meeting with two simple but powerful actions to stay organized and maintain momentum. A controversial movie about former President Trump was made, but due to its polarizing nature, no distributor has agreed to release it. America continues to grapple with its unique and enduring gun problem, one that has proven difficult to address despite repeated national tragedies.

Interestingly, having an enemy at work might actually boost your career, as some studies suggest it sharpens focus and drives competitiveness. After undergoing a professional time audit, one writer shares six key ways they are transforming their life to boost productivity and well-being. On a different front, some doctors are leaving conservative states to learn how to perform abortions, reflecting the ongoing national divide over reproductive rights. Meanwhile, the four-day workweek is being hailed as a possible key to greater happiness and work-life balance, with growing interest in its potential benefits.

On the quest for immortality, scientists and biohackers alike continue to explore the secrets to living forever. Maintaining long-distance friendships can be tough, but with effort and communication, they can thrive just as much as local connections. In encouraging health news, the latest data reveals that teen vaping rates have hit their lowest levels in a decade, offering hope that this dangerous habit may finally be on the decline. All these topics reflect the shifting dynamics of modern life, from work culture to personal well-being and societal challenges.

  1. Say Goodbye to the Information Age: It’s All About Reputation Now (Reading time: 5 min) - Read here

  2. Two Things to Do After Every Meeting (Reading time: 4 min) - Read here

  3. They made a movie about Trump. Then no one would release it (Reading time: 6 min) - Read here

  4. America’s unique, enduring gun problem, explained (Reading time: 12 min) - Read here

  5. Having an Enemy at Work Might Help You Get Ahead (Reading time: 4 min) - Read here

  6. “6 Ways I’m Changing My Life After Having a Professional Time Audit” (Reading time: 6 min) - Read here

  7. Doctors Are Leaving Conservative States to Learn to Perform Abortions. (Reading time: 10 min) - Read here

  8. Does working a four-day week make you happier? (Reading time: 5 min) - Read here

  9. The Secrets to Living Forever (Reading time: 10 min) - Read here

  10. How to Make a Long-Distance Friendship Work (Reading time: 9 min) - Read here

  11. Are teens finally ditching vaping? New data show lowest levels in a decade (Reading time: 3 min) - Read here

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"The crisis of today is the joke of tomorrow.”

H.G. Wells

Book of the week

Walter Isaacson's Leonardo da Vinci is a deeply engaging and enlightening exploration of one of history's most enigmatic geniuses. Drawing from thousands of pages of da Vinci's notebooks, Isaacson masterfully brings the Renaissance artist, scientist, and inventor to life. The biography is a rich tapestry of Leonardo’s intellectual curiosity, blending his mastery of art with his groundbreaking scientific explorations. Isaacson paints a vivid portrait of Leonardo as a man driven by insatiable curiosity and a relentless quest to understand the world around him.

The book excels in illustrating how Leonardo’s ability to merge art and science, exemplified in works like The Last Supper and Vitruvian Man, was key to his genius. Isaacson also highlights Leonardo’s idiosyncrasies—his left-handedness, his vegetarianism, and his habit of leaving projects unfinished—making him a relatable, if extraordinary, figure. The narrative deftly connects his works of art to his scientific studies, providing insight into how his careful observation of nature influenced his art and vice versa.

One of the biography’s greatest strengths is its focus on Leonardo's creativity and how his diverse passions, from anatomy to flight, intersected to fuel his innovations. Isaacson presents Leonardo not just as a historical figure, but as an inspiration for modern readers, suggesting that we too can nurture our own creativity by embracing curiosity and interdisciplinary thinking. His portrayal of Leonardo as a bit of an outsider, yet one who thrived in his uniqueness, offers an empowering message for readers.

Isaacson’s writing is accessible yet richly detailed, making complex subjects understandable without diluting their significance. This is more than just a biography—it’s a study of the essence of creativity itself. Ultimately, Leonardo da Vinci is an exhilarating journey through the mind of one of history’s most fascinating figures, leaving readers inspired to see the world through Leonardo’s eyes: with wonder, imagination, and endless curiosity.

"It's always better to shock people and change people's expectations than to give them exactly what they think you can do."

Jonah Hill

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