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Is AI a bubble? Well, we don’t think so. Openai has just revealed its new text to video model and has left the internet stunned. Meanwhile Sam is looking to raise TRILLIONS for the company.

Let’s get into it!

Markets

Recession reality hits major economies (2 minute read)
Both Japan and the U.K. have officially entered recessions, with their economies shrinking for two consecutive quarters, as confirmed by recent data. Additionally, European officials anticipate subdued economic growth across the bloc.

These developments signal potential global economic turbulence in the coming year, as nations grapple with deeper slowdowns than previously anticipated. In the U.K., the economy contracted by 0.3% in the last quarter of 2023, following a 0.1% shrinkage in the July-September period, marking a mild recession. Meanwhile, Japan experienced an unexpected annualized 0.4% contraction in the final quarter of last year, exacerbated by a 3.3% decline in the preceding three months, driven by a drop in construction activity.

Coinbase shares surge in premarket trade after posting first quarterly profit in two years (2 minute read)
Coinbase, the largest U.S. platform for cryptocurrency transactions, experienced a significant boost in premarket trading, with shares surging by 12% following the announcement of its first profit in two years. Reporting a net income of $273 million in the fourth quarter, this marks a notable turnaround from previous periods of losses, with this quarter being the first since the fourth quarter of 2021 to yield positive net income.

The company disclosed a robust net revenue of $905 million for the same period, representing a nearly 50% increase from the previous year. The surge in interest in cryptocurrencies during the last quarter of 2023, particularly driven by the approval of the first spot bitcoin exchange-traded funds (ETFs) by the U.S. Securities and Exchange Commission.

OpenAI’s text-to-video tool Sora sets internet alight (3 minute read)
OpenAI, renowned for creating ChatGPT, has introduced a groundbreaking artificial intelligence called Sora, which is capable of producing lifelike video content based on text prompts, sparking widespread astonishment online.

Described as having "a deep understanding of language" by OpenAI in a recent blog post, Sora excels in generating dynamic characters with vivid emotions and crafting intricate scenes featuring multiple characters, various types of motion, and precise details of both subjects and backgrounds. While competitors like Meta and Google have showcased their own text-to-video AI technologies, none have achieved the level of realism demonstrated by Sora.

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Investing

Microstrategy’s Bitcoin Holdings Now Worth Over $10 Billion (1 minute read)
MicroStrategy has achieved a noteworthy milestone in its bitcoin investment, with the value of its holdings surpassing $10 billion as the price of BTC climbs above $52,000. Since entering the bitcoin market in August 2020, MicroStrategy has steadily augmented its holdings, considering bitcoin a crucial element of its treasury strategy.

Michael Saylor, the company's executive chairman, has been a prominent advocate for bitcoin, emphasizing its potential to safeguard purchasing power over time.

Amazon May Want to Watch Out for This Faster-Growing AWS Competitor (4 minute read)
For many Amazon shareholders, the rapid expansion of its cloud computing division, Amazon Web Services (AWS), is a primary driver of their investment. Despite AWS contributing only 15% to Amazon's total revenue, it constitutes two-thirds of the company's operating profits. However, the dominance of AWS is facing increasing competition, notably from Microsoft, which is steadily narrowing the gap in cloud computing market share between the two tech giants. This escalating rivalry poses a challenge for Amazon, as unchecked growth by Microsoft could erode AWS's market position. It raises questions about AWS's ability to maintain its current standing amidst intensifying competition.

BYD racing away with China’s EV market (3 minute read)
In the fourth quarter of 2023, BYD surpassed Tesla to claim the title of the world's largest provider of battery-powered electric vehicles, selling 526,000 units compared to Tesla's 484,000 units, marking a substantial lead. However, in China, where the competition is centered, BYD's dominance is more pronounced. With a significant output of hybrid vehicles alongside battery electric vehicles (BEVs), BYD actually produces twice as many electric vehicles as Tesla, contrary to common perception.

This shift reflects China's aggressive push for New Energy Vehicles (NEVs), which made up 32% of new car sales in the country last year, with the government aiming for a 45% share by 2027. As China progresses towards this target, German and Japanese automakers are strategizing to uphold their market positions in the face of BYD's formidable presence.

Money

When Should You Hire a Financial Advisor? (3 minute read)
There are several compelling reasons to consider hiring a financial advisor. Firstly, significant life events such as retirement, marriage, the birth of children, inheritance, or the sale of a business can necessitate expert financial guidance to navigate effectively. Additionally, as one's financial situation becomes increasingly complex with the accumulation of wealth, the need for professional advice becomes more pronounced to mitigate risks and maximize opportunities. Many individuals also find themselves lacking the time or inclination to manage their finances efficiently amidst their other responsibilities, leading them to outsource this task to experts. These are just a few of the myriad reasons why enlisting the services of a financial advisor can be worth it.

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