Grow Smart Income - week 41, 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

Welcome to this week's economic roundup! As we dive into October, the financial landscape continues to evolve with some surprising twists and turns.

Despite whispers of a looming recession, the job market is painting a different picture. The September Jobs Report revealed a significant uptick in hiring, showcasing the resilience of the U.S. labor market. However, it's not all rosy - a new report indicates that layoffs are unusually high for this time of year, adding an element of uncertainty to the employment sector.

In the housing market, we're seeing an interesting trend: more houses are hitting the market, but they're not moving as quickly as before. This could signal a shift in the real estate landscape that both buyers and sellers should keep an eye on. The world of big tech is making headlines once again, with Mark Zuckerberg surpassing Jeff Bezos to become the world's second-richest person. Meanwhile, in the pharmaceutical industry, Pfizer's stock is on the rise following news of a substantial investment from Starboard.

As we navigate these economic currents, it's crucial to consider long-term financial planning. A recent survey shows that 40% of Americans aim to retire with $1 million or more - but is that enough in today's economy? Join us as we unpack these stories and more, exploring their implications for investors, homeowners, job seekers, and retirees alike. Let's dive in!

  1. Layoffs Unusually High for This Time of Year, New Report Shows - Read more

  2. More Houses Are Coming Up For Sale, And Just Sitting There - Read more

  3. Zuckerberg passes Bezos to become world’s second-richest person - Read more

  4. 40% of Americans plan to retire with $1 million or more—it might not be enough - Read more

  5. September Jobs Report Shows Big Jump in Hiring as Labor Market Stays Resilient - Read more

  6. A Recession? Not Likely With This Job Market - Read more

  7. Pfizer Stock Rises on Report Starboard Takes Roughly $1B Stake - Read more

  8. Goldman Sachs Says a Recession Is Less Likely Given Strong Jobs Data - Read more

  9. Passive investing, edge, and market efficiency: winners need losers - Read more

  10. Is the S&P 500 'running in place' as Q4 kicks off? - Read more

"You are braver than you believe, stronger than you seem, and smarter than you think."

A.A. Milne

Crypto News

Welcome to this week's crypto and blockchain digest! The digital asset space continues to evolve at a breakneck pace, with major players making significant moves and regulatory challenges shaping the landscape.

PayPal has made headlines by completing its first business transaction using stablecoin, marking a milestone in the integration of digital currencies into mainstream finance. Not to be outdone, Visa has unveiled its Tokenized Asset Platform, further bridging the gap between traditional finance and the crypto world.

On the investment front, Grayscale has launched an Aave Fund focused on the Ethereum lending token, while Bitwise is looking to convert three of its futures-based ETFs to new "Trendwise" strategies. These developments highlight the growing sophistication of crypto investment products.

Regulatory challenges continue to make waves, with Coinbase announcing plans to delist unauthorized stablecoins in the EU by December. The exchange is also seeking an early appeal in its ongoing case with the SEC, following the agency's appeal of the Ripple ruling. In the realm of pop culture, Len Sassaman, a figure linked to Bitcoin's origins, is getting the memecoin treatment ahead of an HBO documentary about Bitcoin's creator. Meanwhile, a new Ethereum proposal aims to boost network throughput by 50%, potentially enhancing the blockchain's capabilities.

Intriguingly, prediction markets are gaining attention, with Polymarket's Trump vs. Harris odds catching Elon Musk's eye as potentially more accurate than traditional polls. Join us as we unpack these stories and their implications for investors, developers, and crypto enthusiasts. Let's dive into the ever-changing world of digital assets!

  1. PayPal Completes Its First Business Transaction Using Stablecoin - Read more

  2. Visa Introduces the Visa Tokenized Asset Platform - Read more

  3. Grayscale Launches Aave Fund for Ethereum Lending Token - Read more

  4. Coinbase to Delist Unauthorized Stablecoins in EU by December - Read more

  5. Bitwise Files To Convert Three Futures-Based ETFs to New “Trendwise” Strategies - Read more

  6. Coinbase seeks early appeal in SEC case after agency appeals Ripple ruling - Read more

  7. Len Sassaman Gets the Memecoin Treatment Ahead of HBO Bitcoin Creator Documentary - Read more

  8. New Ethereum proposal aims to increase throughput by 50% - Read more

  9. Trump leads Harris by 2.2% on Polymarket; Elon Musk calls it ‘more accurate’ than polls - Read more

  10. Coinbase Seeks Appeal in SEC Battle - Read more

"The man who has confidence in himself gains the confidence of others."

Hasidic Proverb

Artificial Intelligence

Welcome to this week's AI and tech roundup! As artificial intelligence continues to reshape our world, we're seeing both exciting breakthroughs and concerning developments that demand our attention.

In a startling revelation, a new hack for smart glasses has emerged that can pull up personal information of nearby strangers in seconds, raising serious privacy concerns. On a more positive note, the US government is set to award up to $100 million to boost AI use in semiconductor materials, potentially revolutionizing the chip industry.

As we reflect on AI's rapid progress, a brief look at its 10 landmark moments reminds us how far we've come. Meanwhile, Microsoft is pushing boundaries with its "Copilot Vision" AI experiment, which can see and interact with what you browse online. In the realm of human-AI interaction, Altera is using GPT-4 to build new areas of collaboration, while researchers are employing AI to find non-opioid pain relief options, potentially addressing a critical health issue.

The entertainment industry isn't immune to AI's influence, as evidenced by a North Carolina musician charged with music streaming fraud aided by artificial intelligence. Looking ahead, rumors suggest that the iPhone 16 may get its first Apple Intelligence features later this month.

In a development that might make us question the nature of online security, AI can now solve reCAPTCHA tests as accurately as humans can. And for those seeking companionship, "The Perfect Girlfriend" AI has emerged, though its implications are worth considering. Join us as we explore these stories and their potential impact on our daily lives, privacy, and the future of technology. Let's dive into the fascinating and sometimes unsettling world of AI!

  1. Terrifying Smart Glasses Hack Can Pull Up Personal Info of Nearby Strangers in Seconds - Read more

  2. US to award up to $100 million to boost use of AI for semiconductor materials - Read more

  3. A short history of AI in 10 landmark moments - Read more

  4. Microsoft’s new “Copilot Vision” AI experiment can see what you browse - Read more

  5. The Perfect Girlfriend - Read more

  6. Altera uses GPT-4o to build a new area of human collaboration - Read more

  7. Researchers use AI to find non-opioid pain relief options - Read more

  8. North Carolina Musician Charged With Music Streaming Fraud Aided By Artificial Intelligence - Read more

  9. Your iPhone 16 may get its first Apple Intelligence features later this month - Read more

  10. AI can now solve reCAPTCHA tests as accurately as you can - Read more

"Fall seven times, stand up eight."

Japanese Proverb

Top Article Picks this week

Welcome to this week's eclectic digest, where we explore a diverse range of topics from health and history to science and personal growth!

We kick off with fitness, delving into the optimal duration for holding a plank to strengthen your core. For those struggling with sleep, we share insights on finally mastering the art of restful nights, while also examining the potential pitfalls of obsessively tracking sleep data.

In the realm of mental health, we question whether bipolar disorder is being overdiagnosed, while also exploring the controversial topic of corporal punishment in evangelical families. Science takes center stage as we uncover what human and octopus brains have in common, and witness the resurrection of a lost biblical plant with medicinal properties from a 1,000-year-old seed.

History buffs will appreciate the true origin of Julius Caesar's famous "Veni, Vidi, Vici" proclamation, while puzzle enthusiasts can challenge their bored brains with some intriguing logic problems. We also dive into the world of genetics and business, examining the struggles of 23andMe and pondering its future. For those seeking success, we reveal the secret to being lucky and even offer tips on how to win a Nobel prize!

In the entertainment sphere, we explore how viewers are getting lost in Netflix's endless library. And for a dose of personal growth, we share advice on sleeping as a perfectionist and reflect on OpenAI CEO's learning experience from being fired. Join us as we navigate this fascinating array of topics, offering insights that inform, challenge, and inspire. Let's embark on this journey of discovery together!

  1. Here’s How Long You Should Hold A Plank For A Stronger Core (Reading time: 4 min) - Read here

  2. How I Finally Learned to Sleep (Reading time: 22 min) - Read here

  3. Is Bipolar Disorder Overdiagnosed? (Reading time: 14 min) - Read here

  4. 23andMe Is Sinking Fast. Can the Company Survive? (Reading time: 6 min) - Read here

  5. Breaking a Child’s Will The Evangelical family’s twisted obsession with corporal punishment. (Reading time: 25 min) - Read here

  6. The Problem with Tracking Sleep Data (Reading time: 5 min) - Read here

  7. Veni, Vidi, Vici: The True Origin of Julius Caesar’s Famous Proclamation (Reading time: 5 min) - Read here

  8. Logic Problems to Challenge Your Bored Brain (Reading time: 3 min) - Read here

  9. Lost biblical plant with medicinal properties resurrected from 1,000-year-old seed (Reading time: 5 min) - Read here

  10. What Human and Octopus Brains Have in Common (Reading time: 5 min) - Read here

  11. The Secret to Being Lucky (Reading time: 5 min) - Read here

  12. How Everyone Got Lost in Netflix’s Endless Library (Reading time: 5 min) - Read here

  13. How to win a Nobel prize (Reading time: 4 min) - Read here

  14. How to sleep when you’re a perfectionist (Reading time: 15 min) - Read here

  15. A Real Growing Up Moment For Me': OpenAI's 39-Year-Old CEO Says He Learned a Lot from Being Fired (Reading time: 2 min) - Read here

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"What lies behind us and what lies before us are tiny matters compared to what lies within us."

Ralph Waldo Emerson

Book of the week

Milton Friedman's "Capitalism and Freedom" remains a seminal work in economic and political philosophy, even 60 years after its initial publication. In this influential text, Friedman presents a compelling case for the intertwining of economic and political freedom, arguing that free-market capitalism is not only the most efficient economic system but also a prerequisite for a free society.

Friedman's prose is clear and accessible, making complex economic concepts understandable to a general audience. He systematically dismantles arguments for government intervention in various sectors, including education, labor, and monetary policy. The author's unwavering belief in the power of free markets to solve social and economic problems is evident throughout the book.

One of the most striking aspects of "Capitalism and Freedom" is its prescience; many of Friedman's ideas, considered radical at the time, have since become mainstream economic thinking. His advocacy for school vouchers, a volunteer military, and floating exchange rates were all ahead of their time. However, some readers may find Friedman's staunch libertarian stance extreme, particularly his arguments against licensure for doctors and the abolition of social welfare programs.

Despite its age, the book remains relevant in today's political and economic climate. Friedman's warnings about the dangers of government overreach and the importance of individual liberty continue to resonate. While some of his specific policy recommendations may be dated, the core principles he espouses continue to influence economic and political discourse.

"Capitalism and Freedom" is not without its critics, who argue that Friedman underestimates market failures and the need for some government intervention. Nonetheless, the book's enduring popularity and influence are a testament to the power of Friedman's ideas and his ability to articulate them. For anyone interested in understanding the philosophical underpinnings of free-market economics and its relationship to political freedom, this book remains essential reading.

"The difference between a successful person and others is not a lack of strength, not a lack of knowledge, but rather a lack in will."

Vince Lombardi

And finally…

Source: Dan Go

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