Grow Smart Income - week 47, 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.

Read time: 8 minutes

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Investing and Finance

Welcome to this week's edition of our financial insights newsletter. This week, the tech and finance landscape is rife with significant developments and strategic maneuvers. Starting with the tech giant Microsoft, U.S. regulators are poised to scrutinize its cloud business practices, signaling a potential shift in regulatory oversight. Meanwhile, in Europe, Meta has been dealt a substantial blow with an $843 million fine for anti-competitive practices related to integrating its marketplace with Facebook. Tencent, on the other hand, is riding a wave of optimism after reporting higher-than-expected profits driven by gaming growth and its AI initiatives.

On Wall Street, Warren Buffett’s Berkshire Hathaway is making headlines with its decision to invest in Domino’s Pizza and Pool Corp, while strategically reducing its stake in Apple. This raises questions about Buffett's evolving investment approach, given the ongoing market volatility. Adding to the charitable spirit, MacKenzie Scott continues to make waves with her philanthropy, distributing billions after liquidating significant stock holdings.

Elon Musk's SpaceX is gearing up for a new funding round, preparing to launch a tender offer that would value the space exploration company at $250 billion. Meanwhile, financial giants are rethinking portfolio strategies, with experts suggesting that investors consider including Bitcoin and gold amid fluctuating economic conditions.

In other corporate moves, GM has announced layoffs impacting 1,000 employees as part of cost-cutting and reorganization efforts, reflecting broader challenges across industries. The outlook for the S&P 500 is also under pressure, with analysts cautioning that a souring profit forecast could hinder the ongoing stock market rally. On a positive note, Revolut has secured a UK trading license and is expanding its stock trading services to Europe, signaling a competitive shake-up in the financial services sector. Lastly, Walmart’s stock is poised for its best year since 1999, bolstered by impressive profit gains that reflect consumer resilience.

Stay tuned as we unpack these stories and what they mean for investors and industry observers alike.

  1. US regulators plan to investigate Microsoft’s cloud business - Read more

  2. EU Fines Meta $843M For Tying Marketplace to Facebook, Harming Competitors - Read more

  3. Tencent reports profit beat on games growth, touts AI benefits - Read more

  4. Buffett’s Berkshire Buys Stakes in Domino’s and Pool Corp. - Read more

  5. MacKenzie Scott Renews Giving After Unloading $8 Billion of Stock - Read more

  6. Buffett's Berkshire Buys Shares of Domino's Pizza and Pool Corp., Dumps Apple Stock - Read more

  7. Why Has Warren Buffett Been Selling So Much Stock? - Read more

  8. Elon Musk's SpaceX Plans To Launch Tender Offer Valuing It at $250B - Read more

  9. Jeff Bezos' Net Worth Is 12 Figures—Here's How He Grew His Financial Empire - Read more

  10. Why Bitcoin and Gold Should Be in Your Portfolio—For Now - Read more

  11. GM lays off 1,000 employees amid reorganization, cost-cutting - Read more

  12. Souring S&P 500 Profit Outlook a Bad Sign for Stock Market Rally - Read more

  13. Revolut gets UK trading license, set to offer UK & EU stock trading - Read more

  14. Walmart stock set for best year since 1999 as profits jump - Read more

“The standard you walk past is the standard you accept.”

David Hurley

Crypto News

Welcome to this week's edition of our financial insights newsletter. The cryptocurrency and blockchain sectors are buzzing with activity and remarkable stories. Robinhood has expanded its offerings for U.S. traders by adding Solana and other cryptocurrencies, positioning itself as a comprehensive trading platform. One trader’s astonishing tale of turning $16 into $3 million in just two weeks on a meme coin has captivated the market’s attention, highlighting the unpredictable nature of crypto investments. In related news, the self-proclaimed ‘Dogecoin Millionaire’ has reclaimed his title after a DOGE price surge—and this time, he’s taking profits.

In a significant legal outcome, Ilya Lichtenstein, the hacker behind the attempted laundering of 120,000 bitcoin from Bitfinex, has been sentenced to five years in prison. Meanwhile, Consensys is pushing back against regulatory challenges by unveiling a new sovereignty platform aimed at enhancing blockchain independence. Tether has launched its ‘Hadron’ platform, venturing into real-world asset tokenization to bridge the gap between traditional finance and blockchain.

Legislators in Pennsylvania are proposing a bill to invest in bitcoin and crypto ETFs as a hedge against inflation, signaling a shift in state-level financial strategy. Bitcoin ETFs are gaining momentum as they receive support from both the SEC and CFTC, setting the stage for broader adoption. XRP has reached a three-year price high, bolstered by record-breaking futures open interest, showcasing growing market confidence.

Bitcoin bull Michael Saylor has made headlines once more with his bold prediction that the cryptocurrency will hit $100K by year’s end. On the stablecoin front, Kraken and a Tether-backed Dutch firm have launched MiCA-compliant Euro and U.S. dollar stablecoins, further integrating crypto with the mainstream financial system. Despite cautious market entry, bank clients are beginning to explore Bitcoin ETFs, with analysts expecting a potential FOMO-driven spike in Q4.

The Solana ecosystem is also in the spotlight as decentralized applications on the network rake in record fees amid a revived memecoin frenzy. Short sellers in Bitcoin mining stocks are facing a potential $4.6 billion squeeze as prices trend upward. Lastly, Ethereum’s prospects remain positive, with its whales on a buying spree and analysts projecting a climb toward $6,000. MicroStrategy, known for its substantial Bitcoin holdings, has made its largest purchase yet, acquiring $4.6 billion worth of the cryptocurrency.

Stay tuned as we break down these stories and their implications for investors and market enthusiasts.

  1. Robinhood Adds Solana, Other Cryptocurrencies for US Traders - Read more

  2. Luckiest Trader Ever? From $16 to $3 Million in 2 Weeks on a Meme Coin - Read more

  3. Dogecoin Millionaire' Regains Title After DOGE Pump—And This Time, He's Selling - Read more

  4. Bitfinex hacker Ilya Lichtenstein sentenced to five years in prison for attempting to launder 120,000 bitcoin - Read more

  5. Consensys pushes back against regulatory ‘gaslighting’ with new sovereignty platform - Read more

  6. Tether introduces ‘Hadron’ real-world asset tokenization platform - Read more

  7. Pennsylvania legislators introduce bill to invest in bitcoin and crypto ETFs as a 'hedge against inflation' - Read more

  8. Bitcoin ETFs Gain Momentum with Support from SEC and CFTC - Read more

  9. XRP Price at 3-Year High as Futures Open Interest Jumps to New Record - Read more

  10. Bitcoin Bull Michael Saylor Expects $100K Price By Year's End - Read more

  11. Kraken, Tether-Backed Dutch Firm Rolls Out MiCA-Compliant Euro, U.S. Dollar Stablecoins - Read more

  12. Bank Clients Just Dipped Their Toes Into Bitcoin ETFs, but Q4 Could See a FOMO Spike - Read more

  13. Solana-based DApps rake in record fees as memecoin frenzy returns - Read more

  14. Shorts piling into Bitcoin mining stocks risk $4.6bn squeeze - Read more

  15. Ethereum Faces More Upside Ahead with Eyes Glued to $6,000 as ETH Whales Go on a Buying Spree - Read more

  16. MicroStrategy Buys $4.6 Billion of Bitcoin in Largest Purchase - Read more

“Perfection is not attainable. But if we chase perfection we can catch excellence.”

Vince Lombardi

Artificial Intelligence

Welcome to this week's edition of our financial and tech insights newsletter. The intersection of AI and real-world applications continues to push boundaries and provoke thought. Recent studies show that AI-generated poetry has become indistinguishable from human-written works, even receiving more favorable ratings. Meanwhile, innovations in agentic workflows now include payments integration, enhancing the utility of language learning models (LLMs).

Amazon is ramping up its competition against Nvidia by intensifying efforts to develop advanced AI chips. In a groundbreaking development, researchers have revealed that a robot trained on surgical videos has performed procedures with the skill of a human doctor. In the education sector, one teacher has discovered a unique motivational strategy: using AI-generated images that project students’ future selves based on their ambitions.

On the creative front, a viral Reddit post with 50,000 upvotes was recently revealed to be entirely generated by ChatGPT, raising discussions about authorship and AI's role in content creation. In legal news, GEMA has taken unprecedented action by suing OpenAI over song lyrics, marking a first for performing rights organizations.

In the field of synthetic biology, an AI called Evo has emerged, designed to craft entire genomes from scratch using DNA training. Health tech also saw advancements with the release of a demo for Thrive AI Health assistant, developed by Sam Altman and Arianna Huffington, though early feedback noted its simplicity. NASA introduced an AI Earth Copilot that promises to answer questions about our planet’s well-being.

Court documents from the ongoing legal case between Elon Musk and Sam Altman have unveiled a series of emails involving them, Ilya Sutskever, and Greg Brockman, shedding light on behind-the-scenes AI discussions. In medical breakthroughs, an AI tool capable of identifying cancer gene signatures within biopsy images shows promise for early detection.

On the hardware side, Nvidia’s latest AI chips have reportedly faced overheating issues in servers, a concern noted by The Information. As these stories unfold, they underscore both the potential and challenges AI brings across industries.

Stay tuned as we delve into these stories and their implications for technology enthusiasts and investors alike.

  1. AI-generated poetry is indistinguishable from human-written poetry and is rated more favorably - Read more

  2. Adding payments to your LLM agentic workflows - Read more

  3. Amazon steps up effort to build AI chips that can rival Nvidia - Read more

  4. Robot that watched surgery videos performs with skill of human doctor, researchers report - Read more

  5. A teacher motivates students by using AI-generated images of their future selves based on their ambitions - Read more

  6. Remember this 50k upvote post? OP admitted ChatGPT wrote 100% of it - Read more

  7. GEMA Sues OpenAI Over Song Lyrics In a First for PROs - Read more

  8. Meet Evo, the DNA-trained AI that creates genomes from scratch - Read more

  9. Sam Altman and Arianna Huffington’s Thrive AI Health assistant has a bare-bones demo - Read more

  10. NASA’s AI Earth Copilot will take your questions about our planet - Read more

  11. As part of the court case between Elon Musk and Sam Altman, a substantial number of emails between Elon, Sam Altman, Ilya Sutskever, and Greg Brockman have been released. - Read more

  12. AI tool ‘sees’ cancer gene signatures in biopsy images - Read more

  13. New Nvidia AI chips overheating in servers, the Information reports - Read more

“People often say that motivation doesn’t last. Well, neither does bathing—that’s why we recommend it daily.”

Zig Ziglar

Top Article Picks this week

Welcome to this week's edition of our insights newsletter, where we explore the intriguing blend of science, culture, and self-improvement. Did you know that insects are far more perceptive than we might assume? Recent research shows that their sensitivity reveals complex behaviors worth re-examining. On a broader scale, political outcomes like Trump’s victory may shift America, but Europe’s path could diverge significantly.

As the holidays approach, many grapple with maintaining personal well-being. We share nine effective strategies for setting boundaries with family, ensuring a more peaceful season. You might also be surprised to learn about the scientific roots of the playground staple: monkey bars. Meanwhile, advances in mental health support include the rise of machine-assisted therapy, promising new ways to manage emotional wellness.

In tech and medicine, the quest for bionic limbs that mimic natural sensation is progressing rapidly. On the sleep front, we look at proven techniques for lucid dreaming and insights into why frequent nighttime awakenings occur. It turns out that forgetfulness may have evolutionary benefits, allowing us to filter out unneeded information and adapt better.

Have you ever wondered about the tiny black dots on your windshield? They play an important role in temperature regulation and adhesive support. Indecision might also be more advantageous than you think—it could signal deeper analytical thinking. For those focused on hydration, we clarify how much water you really need each day.

If learning a new language is on your bucket list, we outline a plan to get you conversational in just 90 days. Plus, we’ve curated 19 free online tools that are essential for productivity and creativity. Finally, we delve into the complex psychology behind dark empaths and what sets them apart.

Stay with us as we navigate these diverse topics, equipping you with knowledge to inspire curiosity and informed decisions.

  1. Why Insects Are More Sensitive Than They Seem (Reading time: 10 min) - Read here

  2. Trump’s victory will change America. But Europe can have a different future (Reading time: 5 min) - Read here

  3. 9 Ways To Set Boundaries With Your Family During The Holidays (Reading time: 2 min) - Read here

  4. The Surprisingly Scientific Roots of Monkey Bars (Reading time: 2 min) - Read here

  5. The Therapist in the Machine (Reading time: 22 min) - Read here

  6. The quest to build bionic limbs that feel like the real thing (Reading time: 14 min) - Read here

  7. What Are the Best Lucid Dreaming Techniques? (Reading time: 8 min) - Read here

  8. The Evolutionary Benefits of Being Forgetful (Reading time: 5 min) - Read here

  9. Here’s Why Your Windshield Has Those Little Black Dots Around It (Reading time: 2 min) - Read here

  10. Why Indecision Makes You Smarter (Reading time: 8 min) - Read here

  11. Read This If You Keep Waking Up at Night (Reading time: 3 min) - Read here

  12. How Much Water Should You Drink in a Day? (Reading time: 3 min) - Read here

  13. How to Learn a New Language in 90 Days (Reading time: 7 min) - Read here

  14. 19 Free Online Tools You’ll Want to Bookmark Right Now (Reading time: 6 min) - Read here

  15. The Truth About Dark Empaths (Reading time: 10 min) - Read here

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“I always wanted to be somebody, but now I realize I should have been more specific.”

Lily Tomlin

Book of the week

Sun Tzu's timeless masterpiece "The Art of War" continues to resonate powerfully across cultures and centuries, proving its relevance far beyond military strategy. This particular edition, while maintaining the core wisdom of the original text, presents the chapters in a deliberately non-linear arrangement that creates interesting connections between seemingly disparate concepts. The ancient Chinese treatise distills the essence of conflict and competition into concise, memorable axioms that have found applications in business, politics, and personal development.

Sun Tzu's emphasis on winning without fighting and achieving objectives through careful planning rather than brute force demonstrates a sophistication that was far ahead of its time. The author's insights into human psychology and organizational behavior are particularly striking, as he explores how to leverage both strengths and weaknesses effectively. Each chapter builds upon fundamental principles while offering practical advice on topics ranging from terrain assessment to espionage, all presented in clear, accessible language.

The wisdom of "knowing yourself and knowing your enemy" remains one of the text's most quoted and applicable principles, transcending its military origins. This edition's thoughtful formatting and presentation make the ancient wisdom more digestible for modern readers, though some might find the non-sequential chapter arrangement initially disorienting. The translators have done an admirable job of preserving the poetic quality of the original text while making it accessible to contemporary audiences.

Strategic gems like "Supreme excellence consists in breaking the enemy's resistance without fighting" take on new meaning in today's competitive landscape. The book's enduring popularity, evidenced by its bestseller status in Chinese History, speaks to its universal appeal and practical value. While some readers might find certain passages cryptic or overly focused on warfare, the underlying principles are remarkably adaptable to modern challenges.

This version's approval by the Holden-Crowther Organisation for Asian Studies lends it additional academic credibility. The brevity of the text belies its depth, as each reading reveals new layers of insight and application to contemporary situations.

“Talent wins games, but teamwork and intelligence win championships.”

Michael Jordan

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