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WEEKLY NEWSLETTER

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What you’ll read?

• Nasdaq’s loss marked its worst session

• A Stegosaurus skeleton auctioned $4.5 million

• NASA has canceled its planned rover mission

• Elon Musk’s ventures are making headlines

• Apple is negotiating to expand its film licensing agreements

• Secret Service turned down requests for enhanced security for Trump

  and more…

BUSINESS

Tech Tumble

On Wednesday, the S&P 500 dropped 1.39% and the Nasdaq Composite plunged 2.77%, dragged down by a rotation out of high-flying tech shares. The Dow Jones, however, rose 0.59%, closing above 41,000 for the first time, boosted by a strong performance from UnitedHealth. Major tech stocks like Meta, Netflix, and Microsoft saw significant declines, while semiconductor stocks were hit by potential U.S. trade restrictions. The Nasdaq’s loss marked its worst session since December 2022, signaling a notable shift in market sentiment.

Dino-Dollar Boom

A Stegosaurus skeleton just shattered records at auction, fetching an astonishing $4.5 million at Sotheby's. The fossil, remarkably preserved and unearthed in the United States, attracted global attention and fierce bidding. This sale underscores the skyrocketing value of rare dinosaur specimens in the collector’s market, highlighting a growing trend in paleontological investments.

TECH

Today in AI & Tech

AI Boom

Anthropic and Menlo Ventures have unveiled a $100 million fund aimed at fueling innovation in AI startups. This new initiative seeks to support early-stage companies that are pushing the boundaries of artificial intelligence, with a focus on technologies that could reshape various industries. The fund reflects growing investor interest in the potential of AI to drive significant advancements and disrupt existing markets.

Lunar Setback

NASA has canceled its planned rover mission to search for ice on the moon, citing delays and budget overruns. The mission, intended to explore potential water resources that could support future lunar exploration, has been shelved indefinitely. This decision marks a significant setback in NASA's broader goals of advancing lunar science and establishing a sustainable human presence on the moon.

Space Shuffle

Elon Musk’s ventures are making headlines again as X (formerly Twitter) and SpaceX are relocating operations to Texas. The move is part of a broader trend of tech and space companies seeking more favorable business environments and lower costs. This relocation is expected to enhance the operational efficiency of Musk’s enterprises and solidify Texas's position as a hub for space innovation.

Data Dilemma

Sam Altman, CEO of OpenAI, has emphasized the need for stronger regulations to safeguard health data amidst the rise of AI technologies. He advocates for robust privacy measures to prevent misuse and ensure that personal data remains protected as AI continues to evolve. Altman’s comments highlight ongoing concerns about data security in the age of advanced artificial intelligence.

Moon Mining

A promising development in space exploration has occurred with a new NASA grant boosting the efforts of a space startup focused on moon mining. The funding aims to support innovative technologies that could enable the extraction of valuable resources from the lunar surface. This initiative represents a significant step toward making space mining a viable and potentially lucrative industry.

Media & Entertainment

Studio Split

Warner Bros. Discovery is set to undergo a major breakup, with the company restructuring its assets and operations. This strategic shift aims to streamline its focus and enhance profitability amidst changing market dynamics. The breakup marks a significant moment for the entertainment giant, signaling a new chapter in its evolution and possibly altering the competitive landscape.

Film Frenzy

Apple is negotiating to expand its film licensing agreements with Hollywood studios. This move is part of Apple's broader strategy to enhance its streaming service by adding more diverse and high-profile content. The expanded licensing could significantly boost Apple's competitive edge in the crowded streaming market.

Historic Honors

The TV adaptation of "Shogun" has garnered a remarkable 25 Emmy nominations, highlighting its impact and diversity. This unprecedented achievement underscores the growing recognition of diverse storytelling and the show's significant contribution to television. The nominations reflect a broader trend towards celebrating varied narratives and inclusive representation in media.

Box Office Boom

"Despicable Me" has made history as the first animated franchise to surpass $5 billion in global box office revenue. This milestone underscores the franchise's enduring popularity and financial success, solidifying its place as a powerhouse in the animation industry. The achievement reflects the strong fan base and commercial appeal of the beloved Minions.

Other

Secret Service Denies Additional Security Requests Before Trump Shooting

The Secret Service had previously turned down multiple requests for enhanced security measures for former President Donald Trump, including magnetometers, additional agents, and snipers at public events. The denials were attributed to resource limitations and staffing shortages. The scrutiny around the agency intensified following a recent shooting at a Trump rally in Pennsylvania, where the former president was injured and one supporter was killed. The incident has highlighted concerns over the adequacy of security provisions for high-profile figures.

Tour de France Finale: Pogacar Set for Historic Win

The 2024 Tour de France concludes with a historic Stage 21 time trial, marking the first finish outside Paris due to the upcoming Olympic Games. Riders will tackle a 21-mile course from Monaco to Nice, featuring rolling hills and a modest elevation gain. Slovenian Tadej Pogacar, in the yellow jersey, is poised to clinch his third Tour de France title, holding a commanding lead over Danish rider Jonas Vingegaard and Belgian Remco Evenepoel. Pogacar's impressive performance, including five stage wins, could make him the first rider in the 21st century to win both the Giro d’Italia and Tour de France in the same season. Despite a remarkable comeback from injury, Vingegaard is unlikely to catch Pogacar.

Team USA Faces Deja Vu with WNBA All-Stars

Team USA's national women's basketball team experienced a déjà vu moment, losing to the WNBA All-Stars 117-109 ahead of the 2024 Paris Olympics. Arike Ogunbowale, named MVP after scoring a record 34 points, led the All-Stars to victory, mirroring their previous exhibition win before the Tokyo Olympics. Despite the loss, Team USA remains unfazed, with players and coach Cheryl Reeve highlighting the competitive spirit and depth of U.S. talent. Reeve emphasized the need for improved defensive efforts, noting the high-scoring performance by Ogunbowale and the All-Stars as a valuable test.

It's a Wrap!

Thank you for joining us in this journey through the latest updates and insights. Your engagement and support mean the world to us. We hope you found this newsletter both informative and inspiring. Stay tuned for more exciting news and stories in our next edition.

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Garry