Grow Smart Income - week 44, 2024

What happened this week?

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 market roundup, where resilience and transformation define the current financial landscape. Despite ongoing market volatility, we're seeing encouraging signals from both institutional and retail sectors, with workers reporting improved confidence in their financial health and unemployment claims showing unexpected declines. Tech continues to dominate headlines, with Nvidia's ecosystem flourishing as supplier SK Hynix posts record profits, while Apple makes a compelling comeback in the competitive Chinese smartphone market.

Global markets are evolving rapidly, from Vietnam's ambitious plans to upgrade its $200 billion stock market to the NYSE's consideration of extended trading hours, reflecting the changing demands of modern investors. However, it's not all smooth sailing – Volkswagen's restructuring plans in Germany and Philips' challenges in China remind us of the ongoing adjustments in traditional industries. Meanwhile, retail investors are increasingly focused on individual stock picks, particularly in the tech sector, suggesting a shift in investment strategies that could shape market dynamics in the months ahead.

Join me as we dive deeper into these stories that are defining this week's financial narrative.

  1. Despite Market Volatility, More Workers Feel 'Very Good' About Their Financial Health - Read more

  2. UPS Stock Rises as Shipping Giant Returns To Growth - Read more

  3. Unemployment Claims Fall Unexpectedly - Read more

  4. Nvidia supplier SK Hynix sees no AI chip oversupply as profit soars to record - Read more

  5. Apple Returns To Top 5 in Chinese Smartphone Sales With iPhone 16, IDC Says - Read more

  6. The NYSE Wants Even Longer Stock-Trading Hours - Read more

  7. Retail Investors Are Buying Up Nvidia and Other Single Stocks. Here's What That Means. - Read more

  8. How to Get Rich with No Money (9 expert tips) - Read more

  9. Vietnam waits for major upgrade to its $200 billion stock market - Read more

  10. Volkswagen plans to close at least 3 German plants and cut thousands of jobs - Read more

  11. Philips Stock Tanks on Outlook Cut as Demand Deteriorates in China - Read more

  12. Stock market today: Dow, S&P 500, Nasdaq rise to kick off busy week of key data, Big Tech earnings - Read more

“Leaders can let you fail and yet not let you be a failure.”

Stanley McChrystal

Crypto News

Welcome to this week's crypto and blockchain digest, where innovation meets institutional interest in fascinating ways. Microsoft's shareholders are pushing for Bitcoin exploration, while traditional finance continues its careful dance with digital assets as evidenced by the Bank of England's stance on their digital pound initiative. The layer-2 ecosystem is expanding with the introduction of Ink, promising to democratize DeFi access, while Coinbase is pushing boundaries by merging AI with crypto through their new 'Based Agent' platform.

We're seeing interesting developments in sports partnerships too, with the Golden State Warriors pivoting from FTX to Coinbase as their crypto sponsor, signaling continued mainstream adoption despite past industry setbacks. Technical innovations are flourishing, with Cardano developing Bitcoin transaction capabilities, while market analysts are spotting promising signs for Ethereum's potential surge toward $6,000. Meanwhile, regulatory discussions remain at the forefront, with Consensys addressing the future U.S. president and Tether facing renewed scrutiny from the Wall Street Journal.

Let's explore these developments that are shaping the future of digital finance.

  1. Microsoft shareholder proposes firm look into investing in Bitcoin - Read more

  2. Introducing Ink: The Layer-2 Opening Exciting DeFi Opportunities to Everyone - Read more

  3. Consensys’ Letter to the Future U.S. President on Crypto Regulation - Read more

  4. Coinbase introduces 'Based Agent' for creating AI agents in 3 minutes - Read more

  5. Britcoin Will Not Replace Cash, BOE Governor Bailey Says - Read more

  6. Wall Street Journal Alleges Tether Faces Federal Scrutiny; Tether CEO Dismisses Claims as ‘Old Noise’ - Read more

  7. Golden State Warriors Name Coinbase as Crypto Sponsor, Replacing FTX - Read more

  8. Cardano Will Be Able to Sign BTC Transactions Using ADA - Read more

  9. How Binance Became a Crypto Giant - Read more

  10. 3 signs Ethereum price is gearing up for a rebound toward $6K - Read more

“It’s not the load that breaks you down, it’s the way you carry it.”

Lou Holtz

Artificial Intelligence

Welcome to this week's AI and technology roundup, where groundbreaking developments continue to reshape our world at an unprecedented pace. OpenAI remains in the spotlight with significant organizational changes and ambitious plans for their next model release, while their financial disclosure reveals fascinating insights about their revenue structure. The semiconductor landscape is evolving as TSMC achieves a remarkable milestone at their Arizona facility, marking a significant win for US chip manufacturing.

Innovation in AI applications continues to surprise us, from a humanoid robot making history at Sotheby's to Anthropic's enhanced coding capabilities and EngineAI's breakthrough in natural robotic movement. Yet amid these advances, we're also seeing both the promise and challenges of AI implementation, particularly in healthcare transcription and education, where AI tools are demonstrating both their potential and limitations.

These developments highlight the rapid pace of AI evolution and its growing impact across diverse sectors of society.

  1. OpenAI disbands another safety team, as head advisor for ‘AGI Readiness’ resigns - Read more

  2. TSMC’s Arizona Chip Production Yields Surpass Taiwan’s in Win for US Push - Read more

  3. Introducing the analysis tool in Claude.ai - Read more

  4. OpenAI plans to release its next big AI model by December - Read more

  5. For the First Time Ever, a Humanoid Robot Is Selling Art at Sotheby’s - Read more

  6. Anthropic’s AI can now run and write code - Read more

  7. Researchers say an AI-powered transcription tool used in hospitals invents things no one ever said - Read more

  8. Meet EngineAI All-new Robotics SE01, Successfully Overcomes the Challenge of Natural Gait in Humanoid Robots for the First Time - Read more

  9. This AI system makes human tutors better at teaching children math - Read more

  10. OpenAI CFO Says 75% of Its Revenue Comes From Paying Consumers - Read more

“You’ve got to get up every morning with determination if you’re going to go to bed with satisfaction.”

George Lorimer

Top Article Picks this week

Welcome to this week's exploration of life, health, and human behavior, where we're diving into fascinating insights that challenge our daily habits and assumptions. From a revealing 72-hour phone detox experiment to groundbreaking research on pain perception between genders, we're uncovering how our modern lifestyle choices impact our well-being. The intersection of science and lifestyle continues to surprise us, with new findings about breathing patterns and smell, while traditional wisdom gets a fresh look as Bruce Lee's vintage workout routine finds new life in today's fitness world.

Beyond physical health, we're examining the subtle forces that shape our lives, from the power of daily rituals to the importance of hobbies and the often-overlooked value of genuine calm in our hectic world. Even romance and mathematics make surprising appearances in our lineup, with critical examinations of pop culture's impact on relationships and an amateur mathematician's remarkable prime number discovery.

These stories remind us that in our quest for better living, both scientific breakthroughs and personal experiences offer valuable insights.

  1. I spent 72 hours without a phone. It led me to a terrifying realisation (Reading time: 2 min) - Read here

  2. Why You Should Take More Time Off from Work (Reading time: 5 min) - Read here

  3. The Surprising Power of Daily Rituals (Reading time: 6 min) - Read here

  4. Want to live longer? Forget blue zones – these factors improve your chances of ageing well (Reading time: 4 min) - Read here

  5. When Pop Culture Sells Dangerous Myths About Romance (Reading time: 12 min) - Read here

  6. Bruce Lee's Training Routine from the 1960s Has Gone Viral, Here's His Full Programme (Reading time: 4 min) - Read here

  7. A Simple Exercise to Help You Check Your Biases (Reading time: 5 min) - Read here

  8. Do men and women process pain differently? (Reading time: 4 min) - Read here

  9. What a Hobby Feels Like (Reading time: 10 min) - Read here

  10. Five Ways to be Calm – And Why It Matters (Reading time: 10 min) - Read here

  11. The Surprising Health Benefits of Pain (Reading time: 10 min) - Read here

  12. Record For Largest Known Prime Number Broken By Amateur Mathematician Using Free Software (Reading time: 5 min) - Read here

  13. Your Sense of Smell Changes The Way You Breathe, Study Reveals (Reading time: 5 min) - Read here

  14. Is Paying for Dating Apps Worth It? 8 Daters Weigh In (Reading time: 4 min) - Read here

  15. Why millions of Americans avoid the news — and what it means for the election (Reading time: 5 min) - Read here

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“Coming together is a beginning; keeping together is progress; working together is success.”

Edward Everett Hale

Book of the week

F. Scott Fitzgerald's masterpiece "The Great Gatsby" remains one of the most penetrating critiques of the American Dream ever written, told through the eyes of the observant Nick Carraway who becomes entangled in the tragic story of his enigmatic neighbor. The novel's prose is remarkably efficient yet lyrical, with Fitzgerald crafting unforgettable images like the green light at the end of Daisy's dock and the haunting eyes of Dr. T.J. Eckleburg watching over the Valley of Ashes. Through the story of Jay Gatsby's desperate pursuit of lost love, Fitzgerald masterfully captures the hollow excess of the Jazz Age, where wealth and glamour mask deep moral emptiness.

The character of Gatsby himself is a brilliant creation - a self-made man whose entire identity is fabricated in service of winning back his former love, Daisy Buchanan. The novel's portrayal of wealth and class in 1920s New York is razor-sharp, contrasting old money's casual cruelty with new money's gaudy striving. Nick's gradual disillusionment with the wealthy world he observes serves as a perfect lens for the reader's own journey through the story. The famous parties at Gatsby's mansion are described in hypnotic detail, creating an atmosphere of both enchantment and emptiness that perfectly captures the era's spirit.

Daisy and Tom Buchanan are expertly drawn as representatives of privilege without purpose, their carelessness leaving destruction in their wake. The novel's pacing is remarkable, building inexorably toward its tragic conclusion while maintaining an atmosphere of dreamy unreality. The use of symbolism throughout - from the green light to the eyes of Dr. Eckleburg - adds layers of meaning without ever feeling heavy-handed. Fitzgerald's prose style shifts masterfully between lyrical description and sharp social observation, creating a perfect balance of beauty and criticism.

The book's exploration of the corruption of the American Dream remains startlingly relevant nearly a century after its publication. Jordan Baker serves as an excellent foil character, her practiced dishonesty contrasting with Gatsby's sincere if misguided romanticism. The novel's final pages rank among the most beautiful in American literature, with their meditation on the persistent optimism that drives us "ceaselessly into the past."

“Take up one idea. Make that one idea your life — think of it, dream of it, live on that idea. Let the brain, muscles, nerves, every part of your body be full of that idea, and just leave every other idea alone. This is the way to success.”

Swami Vivekananda

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