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Apple's Work On 'Home Accessory'

Plus: hacker gained access to OpenAI's internal messaging systems

Author

Cash Nut
July 05, 2024

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In Today’s Edition 

  • noplace, a mashup of Twitter and Myspace for Gen Z, hits No. 1 on the App Store 

  • The short seller that took on Gautam Adani made surprisingly little money

  • LeBron James signs two-year, $104M deal

  • Leak Confirms Apple's Work On 'Home Accessory'

  • A hacker gained access to OpenAI's internal messaging systems

The Rising Demand for Whiskey: A Smart Investor’s Choice

Why are 250,000 Vinovest customers investing in whiskey?

In a word - consumption.

Global alcohol consumption is on the rise, with projections hitting new peaks by 2028. Whiskey, in particular, is experiencing significant growth, with the number of US craft distilleries quadrupling in the past decade. Younger generations are moving from beer to cocktails, boosting whiskey's popularity.

That’s not all.

Whiskey's tangible nature, market resilience, and Vinovest’s strategic approach make whiskey a smart addition to any diversified portfolio.

🚀Startups Nuts

noplace, an app that aims to bring the 'social' back to 'social media', has surged to the top of the iOS App Store. Launched out of invite-only mode on Wednesday, the app allows users to have colorful customizable profiles and share everything from relationship status to what they're listening or watching, what they're reading or doing, and more. It focuses on text-based updates and currently doesn't support photos or videos. 

Other News

  • Latin American venture capital activity hit a six-year low in the first half of 2024, with just 323 deals totaling $2B, per Pitchbook data.

  • Industry Ventures has closed a $900M "hybrid fund" aimed at investing in early-stage technology emerging managers and companies

  • Forestay Capital has closed its second fund, Forestay II, at the hard cap of $220M. The fund plans to focus on early-growth stage enterprise AI and SaaS companies in Europe and Israel.

  • J2 Ventures, a Boston-based firm managed by U.S. military veterans, has secured $150M for its second fund. The latest fund is more than double in size compared to the $67.5M debut fund from 2021. The company focuses on investing in dual-use technologies with both civilian and military applications but avoids direct defense-related technologies like drones, robotics, and surveillance systems.

🏭Business Nuts 

The article discusses the aftermath of Hindenburg Research's January 2023 report accusing Gautam Adani's business empire of fraud, which initially caused a $100 billion loss in company value. Eighteen months later, Adani has largely recovered, while Hindenburg revealed it made just over $4 million from its short positions. The short seller also disclosed receiving a letter from India's market regulator SEBI, alleging inaccuracies in their report. Hindenburg views this as an attempt to silence them. Despite the initial impact, Adani's companies have rallied, and he briefly reclaimed his position as Asia's richest man. The article concludes by mentioning SEBI's investigation and Hindenburg's criticism of the regulator's actions.

Other News

  • LeBron James signs two-year, $104M deal to remain with Los Angeles Lakers; James' son Bronny was selected by the Lakers at last week's NBA Draft.

  • Saks Fifth Avenue parent company to acquire luxury retailer Neiman Marcus in nearly $2.7B deal.

  • European Union raises tariffs on Chinese-made electric vehicles, citing unfair subsidies by China; additional duties range from around 18% to almost 38% depending on manufacturer.

📱Tech Nuts

Apple is working on a new home accessory. The accessory's internal identifier name suggests that it will receive Apple's upcoming A18 chip, which means it will have the power for Apple Intelligence. The home accessory will likely run a software variant of tvOS. Apple may be launching an updated Apple TV later this year.

Other News

  • A hacker gained access to OpenAI's internal messaging systems early last year. They accessed details from discussions in an internal online forum but did not get into the systems where the company houses and builds its artificial intelligence.

  • Figure has released a video showcasing its 01 humanoid robot participating in the vehicle assembly process. The 01 robot is fully autonomous and can execute a wide range of manufacturing jobs, including handling sheet metal, operating in the body shop, and overseeing the warehouse.

  • Japan Railway's new humanoid robot employee is being put to use for maintenance work on the company's rail network. The 12-meter-high robot can carry objects as heavy as 40kg, hold a brush to paint, and use a chainsaw.

  • Apple will reportedly use a more advanced System on Integrated Chip (SoIC) technology for its M5 chips. SoIC technology allows for the stacking of chips in a three-dimensional structure. It provides better electrical performance and thermal management compared to traditional two-dimensional chip designs. 

  • The Galaxy Ring is reportedly able to track and measure heart rate, stress, skin temperature, menstrual cycles, and snoring.

  • Meta has released pre-trained models that leverage a novel multi-token prediction approach that forecasts multiple future words simultaneously, promising enhanced performance and drastically reduced training times.

💡What else are we reading and seeing?

😎Fun Fact

On this day Today, In 1996 Dolly the Sheep becomes first cloned mammal

🔥 Few tools many people are finding useful

  • BeyondPDF - Search for ideas. Not words

  • Paird - Real-time coding collaboration made easy

  • Viggle AI - Animate your characters and images

  • Snatched - Match clothing you like and create perfect outfits

  • Invoice Detector - All your invoices in one place, every month

  • Screen Pipe - Chat with an AI that knows everything about your life

🐦Joke of the Day

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