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- 🐻 Wall street went bear hunting
I’ve got some bad news – Raygun won’t be at the LA 2028 Olympics.
Gone but not forgotten
In her place, LA will see the return of cricket — a sport whose investment potential we’ve been studying long before it was cool.
This raises some good questions:
What determines a sport that’s worthy of the Olympics?
Who gets to decide?
And what are some of the wackiest alternative sports that have ever been featured on the global stage?
Ready to go down the rabbit hole?
In the world of big data, less is more
As the volume of data generated by generative AI and IoT devices grows, companies struggle to handle the onslaught.
They try to maintain a balance between reducing data size and preserving quality and speed, but it doesn't always work:
Spotify faces challenges due to its vast library and a desire to hear music in high quality
Apple's iCloud photo library faced user backlash as their compaction resulted in lower resolution and quality of stored images
Most recently, Elon Musk's live interview with Donald Trump crashed X servers, leaving millions unable to listen
Atombeam has developed a groundbreaking approach to data compaction that reduces data size by up to 75% without any loss of information.
Data compaction is critical to efficiently process big data.
Why Invest in Atombeam?
High demand: With the explosion of IoT devices and big data, efficient data handling is more critical than ever.
Government contracts: AtomBeam was awarded two Phase II contracts totaling $2.4 million from the U.S. Space Force and Air Force Research Laboratory to develop Neurpac for use in military satellites and aircraft
Patents: AutoBeam holds 50 issued and allowed patents, and 62 more pending.
Scalability: AtomBeam’s technology is a force multiplier for machine data communications, enabling up to 2-4x more data to be sent over existing networks
Atombeam has raised $4.5m, and you can invest in their latest round starting at $648
You should read the Offering Circular and Risks related to this offering before investing. This Reg A+ offering is made available through StartEngine Primary, LLC, member FINRA/SIPC. This investment is speculative, illiquid, and involves a high degree of risk, including the possible loss of your entire investment.
📰 Market Headlines
Stocks rallied for their best week of 2024 as recession fears eased, with all eyes turning to Powell's Friday speech at Jackson Hole.
By Friday's close, the S&P 500 and Nasdaq surged nearly 4% and 5.2%, respectively.
Markets now price in a 76% chance of a 25 basis point rate cut by September.
US single-family housing starts plunged 14.1% in July to a 16-month low.
Twitter will close operations in Brazil, citing "censorship orders" from a Brazilian judge.
The US Department of Defense requested $5.3 billion for unmanned systems in fiscal year 2025, with AI-enabled military drones a key focus.
🕶️ Market Vibes
🎰 Market Forecasts and Futures
😱 Fear and Greed Index
🎤 What you said last time
What you had to say:
“Restrictions on you and me, but there are no restrictions on big corporations who are creating the most pollution.”
📈 Trends you need to know
Macy’s has returned a cool 18% over the last five years. At least it’s not Peloton.
🧠 What do you think?
Peloton and Macy’s report earnings this week.
My view of Peloton and Macy's |
📊 Stocks
Get $20 free shares at public.com using code ALTSCO.
Winners and losers
Earnings, upgrades, and acquisitions
Earnings season marches on with a fresh batch of reports. Here’s the lineup:
Market movers
Varta secured a restructuring deal with Porsche, injecting €60 million.
Royal Bank of Canada countersued its ousted CFO Nadine Ahn for breaching its code of conduct, seeking repayment of $36.56 million.
South Korean AI chip makers Rebellions Inc. and Sapeon Korea Inc. agreed to merge.
OpenAI shut down a cluster of ChatGPT accounts linked to an Iranian influence operation targeting the US presidential election.
Perdue Farms recalled over 167,000 pounds of chicken products due to potential metal contamination.
Job cuts:
Cisco announced plans to cut 7% of its workforce, affecting up to 6,000 employees.
Mastercard slashed its global workforce by 3%, impacting around 1,000 employees.
Ideas, trends, and analysis
Mortgage rates fell to 6.6% from 7.5%, sparking a 35% surge in refinancing applications.
A new Gallup poll has suggested alcohol harms older adults even at low levels.
Youth unemployment in China hit a record of 21.3% last year.
🌍 Global Perspectives
🇹🇭 Thailand's King Maha Vajiralongkorn endorsed Paetongtarn Shinawatra as prime minister, making the 37-year-old the country's youngest premier.
🇵🇸🇮🇱 Hamas rejected a new Gaza ceasefire proposal, saying it was too close to Israel's demands.
🇦🇹 Record downpours in Austria caused major flooding, leaving parts of Vienna underwater.
🇵🇹 Hundreds of firefighters battled a wildfire on Madeira's south coast.
📊 Crypto
BlackRock's ETFs surpassed Grayscale's in assets, managing over $21.2 billion in Bitcoin and Ethereum.
Franklin Templeton filed for a 'Crypto Index ETF' holding Bitcoin and Ethereum.
Spot Bitcoin ETFs saw $13 million in net inflows last week, showing sustained institutional demand.
Indian authorities cracked down on a $145 million crypto extortion case involving 2,091 BTC and 11,000 LTC.
Worldcoin launched operations in Malaysia, allowing locals to digitally prove their humanity using iris scans.
🧠 Errata
A Russian volcano erupted after a 7.0 magnitude quake
French heartthrob Alain Delon died at 88.
$1.6 million worth of cocaine washed up on Florida beaches after Hurricane Debby.
📺 What to Watch Today
I like Debby’s style.
That’s all for today. Did I miss anything? Smash the reply button to let me know.
Cheers,
Wyatt
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