Grow Smart Income - week 37 ver.2, 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

In this week's newsletter, we dive into the latest developments shaping the financial and tech landscapes. SpaceX is gearing up for its ambitious Polaris launch, while Apple's iPhone 16 is making waves with its AI-centric design. In the stock market, we're witnessing the worst start to September in seven decades, leaving investors wondering about potential rebounds. The EU's top court has delivered a significant blow to Apple, ordering the tech giant to pay €13 billion in back taxes.

Meanwhile, consumer debt in the US has hit another record high, reflecting broader economic trends. From the rise of mega-cap stocks to Americans' bullish sentiment on equities, the financial world is buzzing with activity. Google faces a setback in its EU appeal, while Bank of America raises its minimum wage to $24 an hour. As we navigate these dynamic times, join us in exploring the stories that are defining our economic future.

  1. What To Know About SpaceX's Planned Polaris Launch - Read more

  2. Apple's New iPhone 16 Is Designed for AI - What You Need To Know - Read more

  3. Stocks Have Had Their Worst Start to September in 70 Years. Can They Rebound? - Read more

  4. Top EU court rules Apple must pay €13bn in back taxes - Read more

  5. Consumer Debt Hit Another Record High In July - Read more

  6. The butterfly effect, index funds, and the rise of mega caps - Read more

  7. Americans Are Really, Really Bullish on Stocks - Read more

  8. Google Loses EU Appeal of $2.7B Fine - Read more

  9. Bank of America Raises Minimum Wage to $24 an Hour - Read more

  10. Only 11% of American workers don’t plan to work at all after they retire - Read more

  11. Crude Oil Prices Fall to Lowest Level of 2024 as OPEC Cuts Demand Outlook - Read more

  12. McDonald's Newest Wrinkle Powers Up Kiosks and Bypasses the Register - Read more

  13. Nearly 70% of Millionaires Don't Feel Wealthy, Survey Finds - Read more

  14. Warren Buffett Sheds More Bank of America Stock - Read more

  15. Larry Ellison’s Net Worth Soars by Record $14 Billion in a Day - Read more

  16. Nvidia CEO Says Chipmaker Is Seeing ‘Incredible’ Demand, Sending Stock Higher Wednesday - Read more

  17. Mastercard Agrees to Buy Cyber-Defense Firm for $2.65 Billion - Read more

  18. McDonald's $5 Value Meal Is Sticking Around - Read more

  19. Believe It Or Not, Incomes Rose 4% Last Year - Read more

  20. Rate-Cut Optimism Has Gold Prices at a Record High - Read more

"The best investment you can make, is an investment in yourself... The more you learn, the more you'll earn."

Warren Buffett

Crypto News

In this week's crypto-focused newsletter, we explore the latest developments in the world of digital assets. The US Bitcoin ETF market is experiencing its longest streak of net outflows, with $1.2 billion exiting these funds. Alarmingly, the FBI reports that investors lost a record-breaking $5.6 billion to crypto scams in 2023, highlighting the ongoing risks in this space. On a brighter note, Coinbase's Layer-2 success demonstrates the power of effective marketing in the crypto world.

Despite the recent outflows, experts maintain that Bitcoin ETFs are performing adequately. In a move towards mainstream adoption, Ethereum Name Service has been integrated with PayPal and Venmo for crypto transfers. Data analytics firm Nansen is expanding its reach by acquiring StakeWithUs, venturing beyond data provision into crypto investment. The UK is taking steps to clarify crypto's legal status with a new bill, while Pendle is offering Bitcoin yields as high as 45% in its new pools.

A VanEck executive has spotlighted a potential Ethereum use case with SWIFT, sparking speculation about an ETH rally. Lastly, CleanSpark is expanding its Bitcoin mining operations, showcasing continued growth in the mining sector.

  1. US Bitcoin ETFs Bleed $1.2 Billion in Longest Run of Net Outflows - Read more

  2. Investors Lost Record High $5.6B to Crypto Scams in 2023, FBI Says - Read more

  3. Coinbase Layer-2 Success Shows Power of Marketing Over Cutting-Edge Tech - Read more

  4. Bitcoin ETFs Are Fine Despite Suffering Their Worst String of Outflows, Says Expert - Read more

  5. Ethereum Name Service integrated with PayPal, Venmo for crypto transfers - Read more

  6. Nansen Buys StakeWithUs, Expanding Beyond Data Provision Into Crypto Investment - Read more

  7. UK Introduces Bill to Clarify Crypto's Legal Status - Read more

  8. Bitcoin Yields as High as 45% on Offer in Pendle's New Pools - Read more

  9. VanEck Exec Spotlights SWIFT Ethereum Use Case, Is ETH Rally Close? - Read more

  10. CleanSpark Expands Bitcoin Mining - Read more

"Criticism is something we can avoid easily by saying nothing, doing nothing, and being nothing."

Aristotle

Artificial Intelligence

In this week's AI-focused newsletter, we explore the latest developments in artificial intelligence across various sectors. Audible is pushing the boundaries of audiobook narration by enabling voice actors to create AI replicas of their voices. In healthcare, Roche is advancing AI-driven cancer diagnostics through its expanded digital pathology environment. BP is deepening its commitment to AI with a five-year deal with Palantir, while Anthropic's Mike Krieger aims to create AI products that live up to the hype.

Gartner predicts a significant shift towards multimodal generative AI solutions by 2027. In finance, UBS has developed an impressive AI tool capable of scanning 300,000 firms in just 20 seconds. The Australian government is taking steps to regulate AI in high-risk settings and introduce voluntary safety standards for businesses. Amazon is making a substantial $10.5 billion investment in UK cloud and AI infrastructure, signaling the growing importance of these technologies.

Elon Musk warns of a potential "crisis of meaning" due to AI and robotics advancements, while Warren Buffett's portfolio reflects a significant investment in AI stocks.

  1. Audible narrators to create voice replicas using AI - Read here

  2. Roche advances AI-driven cancer diagnostics by expanding its digital pathology open environment - Read here

  3. BP extends use of AI in five-year deal with spy tech firm Palantir - Read here

  4. Anthropic’s Mike Krieger wants to build AI products that are worth the hype - Read here

  5. Gartner Predicts 40% of Generative AI Solutions Will Be Multimodal By 2027 - Read here

  6. UBS Has an AI Tool That Can Scan 300,000 Firms in 20 Seconds - Read here

  7. The Federal government has proposed new legal requirements for artificial intelligence in high-risk settings, and a new Voluntary AI Safety Standard for Australian businesses. - Read here

  8. Amazon to Invest $10.5 Billion in U.K. for Cloud, AI Infrastructure - Read here

  9. AI, Robotics Advances Will Bring ‘Crisis of Meaning’, Elon Musk Says - Read here

  10. 29.5% of Warren Buffett's $305.7 Billion Portfolio Is Invested in 2 Artificial Intelligence (AI) Stocks - Read here

  11. New AI can ID brain patterns related to specific behavior - Read here

  12. Sixty countries endorse 'blueprint' for AI use in military; China opts out - Read here

  13. Oracle will use three small nuclear reactors to power new 1-gigawatt AI data center - Read here

  14. Canada working on military AI, Blair says, as he endorses international agreement - Read here

  15. IBM will train you in AI fundamentals for free, and give you a skill credential - in 10 hours - Read here

  16. Google is using AI to make fake podcasts from your notes - Read here

"One today is worth two tomorrows."

Benjamin Franklin

Top Article Picks this week

In this week's eclectic newsletter, we explore a diverse range of intriguing topics. We delve into the ongoing debate about the merits of playing with your children, and examine the latest developments in cosmology's biggest controversy. Our exploration continues with a look at Disney's strangest failure and its lasting impact on science fiction cinema. We uncover lesser-known facts about the original World Trade Centers and investigate the phenomenon of self-proclaimed psychopaths on TikTok.

For personal development enthusiasts, we highlight behaviors that highly confident individuals tend to avoid. Survival preparedness takes an unexpected turn as we discuss unusual items for your emergency kit. In the realm of mental health, we consider whether friendship therapy could be the next breakthrough. We also offer practical advice on training yourself to sleep on your back and provide insights on self-teaching coding skills.

Our journey through the human mind continues with a fresh perspective on brain function, followed by tips on cultivating effortless charm. Finally, we share the candid experiences of a Hinge power user, offering a glimpse into the world of modern dating.

  1. To Play or Not to Play With Your Kid? (Reading time: 10 min) - Read here

  2. The Biggest Controversy in Cosmology Just Got Bigger (Reading time: 13 min) - Read here

  3. Getting Paid to Not Understand It (Reading time: 6 min) - Read here

  4. Disney’s Weirdest Failure Changed Sci-Fi Movies Forever (Reading time: 4 min) - Read here

  5. Facts You Didn’t Know About the Original World Trade Centers (Reading time: 5 min) - Read here

  6. The Psychopaths of TikTok. Content creators are turning to social media to destigmatize - and make money off of - their personality disorders. (Reading time: 6 min) - Read here

  7. Highly Confident People Avoid These 14 Behaviors (Reading time: 4 min) - Read here

  8. 10 Unusual Things You Need in a Survival Kit (Reading time: 5 min) - Read here

  9. Is Friendship Therapy the Next Big Thing in Mental Health? (Reading time: 5 min) - Read here

  10. You Can (and Should) Train Yourself to Sleep on Your Back (Reading time: 5 min) - Read here

  11. Learning to Code is Easy: Here’s How to Teach Yourself (Reading time: 12 min) - Read here

  12. Your Brain Doesn’t Work the Way You Think It Does (Reading time: 20 min) - Read here

  13. The Tricks to Make Yourself Effortlessly Charming (Reading time: 10 min) - Read here

  14. Confessions of a Hinge Power User. “It’s gonna sound wild, but I’ve probably been on close to 200 dates in the last year and a half.” (Reading time: 8 min) - Read here

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"Anything in life worth having is worth working for."

Andrew Carnegie

Book of the week

In Leaders Eat Last, Simon Sinek dives deep into what makes some teams thrive while others crumble. Drawing on insights from the military, business, and government, Sinek argues that effective leadership revolves around creating a "Circle of Safety." This concept emphasizes that when leaders put the well-being of their team first, it fosters trust and cooperation, which are essential to long-term success. Sinek opens with an inspiring observation from the Marine Corps, where officers literally eat last, putting the needs of their subordinates first - a tradition that mirrors strong leadership principles.

The book shows that leaders who protect and nurture their teams, rather than ruling through fear, help cultivate environments where employees feel safe, valued, and willing to take risks for the collective good. Sinek supports his ideas with real-world examples of companies that have succeeded by fostering trust, as well as cautionary tales of organizations that have failed due to internal dysfunction. He explores the negative impacts of environments driven by self-interest, greed, and cynicism, which he contrasts with workplaces that prioritize empathy and collaboration.

The expanded edition also tackles the challenges of leading millennials, addressing their unique needs and concerns. This book is a thought-provoking guide on how leaders can inspire loyalty and dedication in their teams, ultimately creating stronger organizations. Sinek's relatable storytelling makes complex ideas accessible, while his message is both timely and timeless: great leaders eat last.

"It wasn't raining when Noah built the ark."

Howard Ruff

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