Grow Smart Income - week 39, 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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Source: Wisdom Made Easy

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Investing and Finance

Welcome to this week's edition of our newsletter, where we bring you the most impactful stories shaping the business and technology landscape. Apple's highly anticipated iPhone 16 hits the shelves today, but it's not without controversy as the latest AI features are notably absent. In the music industry, Warner Music Group is expanding its layoffs as part of a broader restructuring effort. Pharmaceutical giant Novo Nordisk faces a setback as its obesity drug study yields disappointing results, causing a dip in stock prices.

Meanwhile, Nike's stock is on the rise as Wall Street analysts express optimism about the company's recent CEO change. In banking news, UniCredit has increased its stake in Commerzbank to 21 percent, signaling a potential shift in the European financial sector. As discussions of interest rate cuts intensify, some economists are drawing parallels to past scenarios where jumbo rate cuts preceded recessions. Apollo Global Management is making waves with plans to offer a multibillion-dollar investment in Intel, potentially reshaping the semiconductor industry.

Bank of America is doubling down on its brick-and-mortar presence, announcing plans to open more than 165 new branches by the end of 2026. In commodities, gold is trading near record highs as investors eagerly await US economic data that could provide clues about the Federal Reserve's next moves. Lastly, following the Fed's recent rate cut, US companies are poised to borrow billions, potentially stimulating economic activity. Stay tuned as we delve deeper into these stories and their implications for the global market.

  1. Apple's iPhone 16 Goes on Sale Today Without Latest AI Features - Read more

  2. Warner Music Expands Layoffs in Restructuring Push - Read more

  3. Novo Nordisk Sinks on Obesity Drug Study's Disappointing Results - Read more

  4. Nike Stock Climbs as Wall Street Analysts Welcome a CEO Change - Read more

  5. UniCredit lifts stake in Commerzbank to 21 per cent - Read more

  6. Will a Jumbo Interest Rate Cut Be Followed by a Recession? It's Happened Before - Read more

  7. Apollo to Offer Multibillion-Dollar Investment in Intel - Read more

  8. Bank of America to open more than 165 new branches by end of 2026 - Read more

  9. Gold Trades Near Record Before US Data That May Offer Fed Clues - Read more

  10. US Companies Are Ready to Borrow Billions Following Fed Rate Cut - Read more

"I think one day you'll find that you're the hero you've been looking for."

Jimmy Stewart

Crypto News

Welcome to this week's crypto and blockchain newsletter, where we explore the latest developments shaping the digital asset landscape. In a significant move for institutional adoption, Commerzbank and Deutsche Börse's subsidiary Crypto Finance are joining forces to integrate digital assets into corporate banking services. Meanwhile, contrarian investors are eyeing Ethereum as a potential opportunity in the current market. On the central bank front, the Bank of Canada has decided to shelve its plans for a digital Loonie, raising questions about the future of CBDCs.

In decentralized finance news, the lending protocol Sky is set to drop wrapped Bitcoin following a governance vote, highlighting the evolving dynamics of DeFi ecosystems. Stablecoin issuers have emerged as significant players in traditional finance, now ranking as the 18th largest holder of US Treasuries according to Bernstein. MicroStrategy continues its Bitcoin accumulation strategy, purchasing an additional $458 million worth of BTC and upsizing its convertible note offering to $1 billion.

The SEC has given the green light to Nasdaq for listing options on BlackRock's Bitcoin ETF, potentially opening new avenues for institutional investors. Despite a surge in Ethereum transaction fees, active accounts on the network have fallen to year-to-date lows, presenting an intriguing paradox for analysts. In an unexpected crossover between entertainment and crypto, rapper Iggy Azalea is set to release an online casino called Motherland, boosting the MOTHER token. Lastly, we'll explore four key factors that could impact crypto market prices in the coming week, helping you navigate the volatile waters of digital assets.

  1. Commerzbank and Deutsche Börse Subsidiary Crypto Finance Join Forces for Digital Assets in Corporate Banking - Read more

  2. A Contrarian Bet on Ethereum - Read more

  3. Bank of Canada shelves idea for digital Loonie - Read more

  4. DeFi lending protocol Sky to drop wrapped Bitcoin after governance vote - Read more

  5. Stablecoin Issuers Now 18th Largest Holder of US Treasuries, Says Bernstein - Read more

  6. MicroStrategy Boosts Bitcoin Holdings With $458M Purchase, Upsized Convertible Note Offering to $1B - Read more

  7. SEC Greenlights Nasdaq Listing of Options for BlackRock’s Bitcoin ETF - Read more

  8. Ethereum transaction fees surge even as active accounts fall to year-to-date lows - Read more

  9. Iggy Azalea to Release Online Casino Motherland in Boost for MOTHER Token - Read more

  10. 4 Things That Can Impact Crypto Market Prices This Week - Read more

"I have just three things to teach: simplicity, patience, compassion. These three are your greatest treasures."

Laozi

Artificial Intelligence

Welcome to this week's tech and AI newsletter, where we delve into the latest innovations and controversies shaping our digital future. YouTubers are up in arms over allegations that Apple and Anthropic have used their content without permission to train AI models, raising ethical questions about data usage. Meanwhile, Apple is reportedly testing new AI software to enhance Siri's capabilities for the upcoming iPhone 16. In a bid for technological independence, TikTok's parent company ByteDance is partnering with TSMC to develop its own AI GPUs, potentially challenging Nvidia's dominance in the market.

Amazon is introducing Amelia, an AI assistant designed to support third-party sellers on its platform. LinkedIn's decision to train AI models on user data has sparked discussions about privacy and data ownership in professional networking. In a fascinating application of AI, researchers are using deep learning and spy satellite imagery to detect ancient underground water systems. The concept of the "Dead Internet theory" is taking an unexpected turn with the launch of an AI-powered social media app. Salesforce is making a significant educational push by offering free AI courses to the public through 2025.

Google is investing $25 million in nonprofits to educate students and teachers about AI. A new study raises concerns about AI's potential to lead to inconsistent outcomes in home surveillance systems. In design news, former Apple designer Jony Ive is building his own empire post-Apple. The Three Mile Island nuclear plant is set to reopen, specifically to power Microsoft data centers. A head-to-head comparison between AI and human engineers is benchmarking coding skills, providing insights into the future of software development. Lastly, a new ETF is using AI to mimic Warren Buffett's investment strategy, potentially democratizing access to high-level financial expertise.

  1. YouTubers Furious After Apple and Anthropic Steal Their Data to Train AI - Read more

  2. Apple begins testing AI software designed to bring a smarter Siri to the iPhone 16 - Read more

  3. TikTok owner ByteDance taps TSMC to make its own AI GPUs to stop relying on Nvidia - the company has reportedly spent over $2 billion on Nvidia AI GPUs - Read more

  4. Amazon introduces Amelia, an AI assistant for third-party sellers - Read more

  5. LinkedIn is training AI models on your data - Read more

  6. Deep learning-based detection of qanat underground water distribution systems using HEXAGON spy satellite imagery - Read more

  7. “Dead Internet theory” comes to life with new AI-powered social media app - Read more

  8. Salesforce offers free hands-on AI courses for everyone through 2025 - Read more

  9. Google to Give $25M to Nonprofits Educating Students, Teachers on AI - Read more

  10. Study: AI could lead to inconsistent outcomes in home surveillance - Read more

  11. After Apple, Jony Ive Is Building an Empire of His Own - Read more

  12. Three Mile Island nuclear plant will reopen to power Microsoft data centers - Read more

  13. AI vs. human engineers: Benchmarking coding skills head-to-head - Read more

  14. A new ETF uses AI to emulate Warren Buffett’s investment style - Read more

"I am thankful for all of those who said no to me. It's because of them I'm doing it myself."

Albert Einstein

Top Article Picks this week

Welcome to this week's edition of our newsletter, exploring a diverse range of topics from environmental concerns to personal development and societal trends. We begin with a look at the significant role of food in methane emissions and the challenges in addressing this issue. A recent study reveals that while most US teens are using generative AI, their parents are largely unaware, highlighting a growing digital divide. We delve into the concerning collapse of self-worth in the digital age, questioning the impact of algorithms on art, work, and life.

For those interested in health and weight loss, we explore the surprising science behind fat cells and weight loss. Drawing from intelligence agencies, we share insights on detecting truthfulness in conversations. Adventure seekers will be intrigued by the story of a hidden gold treasure in a forest, sparking a modern-day treasure hunt. We address the alarming question of insect population decline, separating fact from fiction in the alleged "insect apocalypse."

Our exploration of human psychology continues with a look at the concept of hypersanity and its presence in society. For those seeking to improve their weekends, we offer counterintuitive advice on achieving more refreshing breaks. We also provide research-backed principles on consistency and sustainable progress for personal growth. On a more somber note, we revisit the decade-long search for answers in the case of 43 disappeared students in Mexico. Finally, for wellness enthusiasts, we present expert-recommended yoga poses for daily practice.

  1. Food is a huge source of methane emissions. Fixing that is no easy feat. (Reading time: 6 min) - Read here

  2. Most US Teens Use Generative AI. Most of Their Parents Don’t Know (Reading time: 4 min) - Read here

  3. The Collapse of Self-Worth in the Digital Age. Why are we letting algorithms rewrite the rules of art, work, and life? (Reading time: 15 min) - Read here

  4. When You Lose Weight, Your Fat Cells Don’t Just Let Go of Fat (Reading time: 3 min) - Read here

  5. Secrets from the CIA, FBI, and Special Forces on how to know if someone is telling the truth (Reading time: 4 min) - Read here

  6. Gold Treasure Worth a Fortune Was Hidden in a Forest. Let the Hunt Begin (Reading time: 16 min) - Read here

  7. Are bugs really disappearing? A Vox reader asks: Is there really an insect apocalypse happening? We explain what’s really going on. (Reading time: 6 min) - Read here

  8. The Hypersane Are Among Us, If Only We Are Prepared to Look (Reading time: 6 min) - Read here

  9. The Secret to More Refreshing Weekends Is the Exact Opposite of What You’d Expect (Reading time: 3 min) - Read here

  10. How to Be Consistent. Five principles on consistency and sustainable progress, all backed by research and practice. (Reading time: 5 min) - Read here

  11. It’s been a decade since 43 students disappeared in Mexico. Their parents still fight for answers (Reading time: 5 min) - Read here

  12. The 10 Best Yoga Poses To Do Every Day, According To The Pros (Reading time: 6 min) - Read here

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"I don't know what the future may hold, but I know who holds the future."

Ralph Abernathy

Book of the week

In "Talent Is Overrated," Geoff Colvin challenges the common belief that exceptional performance is primarily the result of innate talent. The book argues that the key to world-class performance lies not in natural gifts or simple hard work, but in a specific type of practice called "deliberate practice." Colvin presents extensive scientific research to support his claims, debunking myths about prodigies and exploring the real factors behind extraordinary achievements.

He explains that deliberate practice involves pushing oneself beyond comfort zones, receiving constant feedback, and focusing on improving specific aspects of performance. The author provides examples from various fields, including music, sports, and business, to illustrate how deliberate practice has led to exceptional results. Colvin emphasizes that the principles of great performance can be applied to virtually any activity, making significant improvement accessible to anyone willing to engage in this type of focused work.

The book explores the role of motivation, suggesting that a deep passion for one's field is crucial for sustaining the intense effort required for deliberate practice. Colvin discusses the importance of starting early, highlighting how many top performers began their journey in childhood, but also provides hope for late starters. He examines the concept of "10,000 hours" of practice, popularized by Malcolm Gladwell, while offering a more nuanced view of what those hours should entail.

The author addresses the role of creativity and innovation, arguing that these skills can also be developed through deliberate practice. Colvin provides insights into how organizations can foster environments that encourage and support deliberate practice among their employees. The book challenges readers to reconsider their own potential and the possibilities for improvement in their chosen fields.

Colvin offers practical advice on how to incorporate the principles of deliberate practice into one's own life and work. The updated edition includes new research and takeaways, reinforcing the book's message with the latest findings in performance science. "Talent Is Overrated" ultimately delivers an empowering message: that extraordinary performance is within reach for those willing to engage in the right kind of practice and put in the necessary effort.

"If you want to change who you are, you have to change what you do."

Jim Rohn

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