Grow Smart Income - week 40 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.

Read time: 8 minutes

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Quote of the week

Accomplish More. Juggle Less.

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Investing and Finance

As we dive into another week of financial news, the economic landscape continues to evolve at a breakneck pace. From the Federal Reserve's cautious stance on interest rates to the record-breaking performance of the stock market, investors find themselves navigating a complex terrain. China's recent economic maneuvers have sent ripples through global markets, while labor disputes in the US are reshaping the workforce dynamics.

The job market shows unexpected resilience, with openings climbing to a three-month high, yet paradoxically, even millionaires are feeling the financial pinch. The future of remote work hangs in the balance, as companies reassess their policies in a post-pandemic world. Meanwhile, Costco's unexpected foray into the platinum market signals shifting trends in precious metals investment. Inflation remains a hot topic, with even fast-food staples like McNuggets providing insight into broader economic trends.

Amidst all this, a global housing crisis threatens to squeeze the middle class, highlighting the far-reaching consequences of economic policies and market forces. Join us as we unpack these stories and more in this week's newsletter, offering you the insights needed to stay ahead in these turbulent times.

  1. The Federal Reserve Is In No Rush To Cut Rates, Powell Says - Read more

  2. Stocks Have Had a Record Run This Year. What's in Store for the 4th Quarter? - Read more

  3. They Fired the Bazooka. What the news out of China means for investors. - Read more

  4. US Dockworkers Start Massive Strike - Read more

  5. US Job Openings Climb to Three-Month High, Exceeding Forecasts - Read more

  6. Couple in their 40s is worth nearly $1 million. Why a money expert and self-made millionaire says they’re ‘broke’ - Read more

  7. Remote Work Might Be Disappearing Faster Than You Think - Read more

  8. Costco Bets on Platinum After Gold Rush - Read more

  9. What McNuggets Tell The Fed About Inflation - Read more

  10. A global housing crisis is suffocating the middle class - Read more

"Though no one can go back and make a brand new start, anyone can start from now and make a brand new ending."

Carl Bard

Crypto News

In the ever-evolving world of cryptocurrencies and blockchain technology, this week brings a flurry of developments that underscore the sector's global impact and ongoing challenges. Australia's financial landscape is shifting as a major bank joins Project Guardian, exploring the tokenization of real-world assets. Meanwhile, the UK marks a legal milestone with its first conviction related to illegal crypto ATMs. Innovation continues in unexpected places, with Indonesia's postal service embracing NFT technology for stamps.

However, regulatory pressures persist, as evidenced by Gemini's decision to exit the Canadian market. In a surprising turn, South Korean exchange Bithumb eyes a potential Nasdaq listing, signaling growing mainstream acceptance of crypto businesses. Bitcoin's volatility remains a focal point, with recent geopolitical tensions causing price fluctuations, while its derivatives products show promising growth on traditional exchanges. Despite this, miners face profitability challenges, according to JPMorgan's analysis.

The ongoing legal battle between the SEC and Ripple enters a new phase, highlighting the regulatory uncertainties still plaguing the industry. Privacy coins face increased scrutiny as Kraken announces the end of Monero support in the EEA. The crypto world watches closely as FTX's bankruptcy estate prepares to auction Worldcoin tokens. Amidst these financial maneuvers, the gaming industry continues to integrate blockchain, with the Ethereum-based game 'Shardbound' launching its open beta on major platforms.

  1. Australian bank joins Project Guardian to explore RWA tokenization - Read more

  2. Man pleads guilty to operating illegal crypto ATMs in first UK conviction of its kind - Read more

  3. Indonesian postal service launches NFT stamps - Read more

  4. Crypto exchange Gemini to close all customer accounts in Canada - Read more

  5. South Korean crypto exchange Bithumb considers Nasdaq listing: report - Read more

  6. Bitcoin tanks, gold rebounds as Israel vows Iran 'will pay' for attack - Read more

  7. Bitcoin Friday Futures Become Most Successful CME Group Cryptocurrency Product Launch - Read more

  8. Bitcoin Miner Profit Measure Fell to ‘Recent Record’ Low, JPMorgan Says - Read more

  9. SEC Files Notice of Appeal in Case Against Ripple - Read more

  10. Kraken to end Monero support in European Economic Area - Read more

  11. FTX bankruptcy estate auctioning Worldcoin tokens this week - Read more

  12. Ethereum Strategy Game 'Shardbound' Open Beta Hitting Steam, Epic Store - Read more

"The best protection any woman can have... is courage."

Elizabeth Cady Stanton

Artificial Intelligence

As artificial intelligence continues to reshape industries and daily life, this week's news highlights the rapid advancements and substantial investments in AI technology. Tech giants are making bold moves, with SoftBank planning a $500 million investment in OpenAI and Google committing $1 billion to boost AI growth in Thailand. The retail sector is embracing AI-driven innovations, as exemplified by Puma's collaboration with Google Cloud and Meta for enhanced shopping experiences. Education is undergoing a transformation, with 21 startups leveraging AI to revolutionize learning.

Even hardware companies like Raspberry Pi are joining the AI race, partnering with Sony to create an AI-powered camera. Microsoft's CEO is urging businesses to harness AI's productivity potential, while the company makes massive investments in data center infrastructure to support its AI ambitions. Google continues to enhance its AI offerings, with new features in Google Lens and development of reasoning AI to compete with OpenAI. In the realm of education technology, Ello is empowering children to create their own stories using AI.

OpenAI has rolled out four new AI features, further expanding its capabilities. The military is exploring AI applications, with the Army testing AI-enabled robot dogs in the Middle East. As AI becomes more prevalent, efforts to demystify its capabilities for the general public are increasing. In healthcare, the Cancer AI Alliance aims to accelerate discoveries using AI and cancer data. Collaborations between AI and biotech companies, such as DeepMind and BioNTech, are pushing the boundaries of scientific research. These developments underscore AI's growing influence across various sectors and its potential to reshape our future.

  1. SoftBank to Invest $500 Million in OpenAI - Read more

  2. Google to invest $1 billion in Thailand to build data center and accelerate AI growth - Read more

  3. Puma Taps Google Cloud, Meta for Personalized Product Images, XR Shopping Experience - Read more

  4. 21 startups transforming education with AI - Read more

  5. Raspberry Pi built an AI camera with Sony - Read more

  6. Microsoft CEO: Ignore ‘conventional wisdom’ about AI - it can already help you be more productive at work - Read more

  7. Microsoft’s mammoth AI bet will lead to over $100 billion in data center leases - Read more

  8. Google Lens Gets Upgraded With New Video Feature That Utilises AI Overviews to Generate Responses - Read more

  9. AI reading coach startup Ello now lets kids create their own stories - Read more

  10. OpenAI Just Announced 4 New AI Features, and They’re Available Now - Read more

  11. Army Testing Robot Dogs Armed with Artificial Intelligence-Enabled Rifles in Middle East - Read more

  12. Wondering what AI actually is? Here are the 7 things it can do for you - Read more

  13. Google Is Working on Reasoning AI, Chasing OpenAI’s Efforts - Read more

  14. AI simulation gives people a glimpse of their potential future self - Read more

  15. Microsoft invests €4.3B to boost AI infrastructure and cloud capacity in Italy - Read more

  16. Character.ai abandons making AI models after $2.7bn Google deal - Read more

  17. Cancer centers launch Cancer AI Alliance to unlock discoveries, transform care using cancer data and applied AI - Read more

  18. DeepMind and BioNTech build AI lab assistants for scientific research - Read more

"The truth is, everyone is going to hurt you. You just got to find the ones worth suffering for."

Bob Marley

Top Article Picks this week

In this week's exploration of health, psychology, and societal trends, we delve into a diverse array of topics that touch on the human experience. We begin by examining the gender disparity in migraines, shedding light on why women are more susceptible to this debilitating condition. For those seeking to enhance their cognitive abilities, we outline a six-step process to train the brain for improved focus. The concept of "secondhand sadness" is introduced, offering insights into the contagious nature of emotions.

Financial considerations take center stage as we ponder the value of pensions and the age-old debate of status versus money. In our increasingly connected world, we're reminded of the importance of digital security, particularly when using public Wi-Fi networks. Stepping back to reflect on human history, we examine moments that could have accidentally ended humanity and the surprising role of deep-space asteroids in the origins of life on Earth. The alarming story of a high school graduate unable to read highlights critical issues in our education system.

For those grappling with stress and anxiety, we offer eight practical skills to boost mood and mental wellbeing. We then venture into philosophical territory, contemplating the implications of universal oneness. The unexpected rise of a teenage gamer to internet sainthood provides a fascinating look at online culture. In the realm of market research, we're reminded of the importance of observing actions rather than relying solely on stated preferences. Finally, we explore the cutting-edge science behind the longevity movement, questioning whether aging itself might be a reversible condition.

  1. Why Women Get Migraines More Than Men (Reading time: 4 min) - Read here

  2. The 6-Step Process To Train Your Brain To Focus (Reading time: 3 min) - Read here

  3. Are You Experiencing Secondhand Sadness? Here’s What You Need to Know (Reading time: 6 min) - Read here

  4. How Much is My Pension Worth? (Reading time: 7 min) - Read here

  5. Status Over Money, Money Over Status (Reading time: 5 min) - Read here

  6. Why it’s time to take warnings about using public Wi-Fi, in places like airports, seriously (Reading time: 6 min) - Read here

  7. The Moments That Could Have Accidentally Ended Humanity (Reading time: 12 min) - Read here

  8. We Can Thank Deep-Space Asteroids for Helping Start Life on Earth (Reading time: 5 min) - Read here

  9. This Hartford Public High School grad can’t read. Here’s how it happened (Reading time: 15 min) - Read here

  10. Stressed out? These 8 skills can help boost mood and reduce anxiety (Reading time: 7 min) - Read here

  11. What Would Happen If Everyone Truly Believed Everything Is One? (Reading time: 5 min) - Read here

  12. How a 15-Year-Old Gamer Became the Patron Saint of the Internet (Reading time: 6 min) - Read here

  13. Don’t Ask People What They Want, Watch What They Do (Reading time: 5 min) - Read here

  14. Is Aging a Disease You Can Reverse? A Look at the Science Behind the Longevity Movement (Reading time: 6 min) - Read here

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"It is amazing what you can accomplish if you do not care who gets the credit."

Harry S. Truman

Book of the week

George Orwell's "Animal Farm" remains a powerful and relevant masterpiece, 75 years after its initial publication. This allegorical novel brilliantly satirizes the corruption of revolutionary ideals, using a farm rebellion as a metaphor for political upheaval. Orwell's prose is deceptively simple, making the book accessible while delivering profound insights into human nature and power dynamics.

The story's progression from hopeful revolution to oppressive regime is both fascinating and chilling. Orwell's animal characters are well-drawn and memorable, serving as stand-ins for various political figures and ideologies. The gradual erosion of the animals' original principles, epitomized by the famous line "All animals are equal, but some animals are more equal than others," is masterfully portrayed.

While initially seen as a critique of Stalinist Russia, "Animal Farm" transcends its historical context to offer timeless commentary on the dangers of unchecked power and the manipulation of language and truth. The novel's enduring popularity, evidenced by its high ratings and status as a teacher's pick, speaks to its continued relevance in today's political landscape.

This 75th anniversary edition, featuring a new introduction by Téa Obreht, offers readers a fresh perspective on the classic. "Animal Farm" remains essential reading for those seeking to understand the mechanics of political corruption and the importance of vigilance in preserving democratic ideals.

"The bad news is time flies. The good news is you're the pilot."

Michael Altshuler

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