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Fed Rate Hike is getting out of control
Cash Nut
May 19, 2023
In Today’s Edition
Comcast will likely sell Hulu stake to Disney at the beginning of 2024
Krafton’s BGMI To Make A Comeback In India
Apple execs were reportedly skeptical on the headset, with one likening it to a 'science project'
Meet Spacetop, a radical new laptop with no screen
Physicists Create Biggest-Ever Schrödinger's Cat
🚀Startups Nuts
Disney is more likely to buy Comcast’s 33% stake in Hulu than sell its 66% stake, Comcast CEO Brian Roberts said. A deal will likely value Hulu at more than the $27.5 billion valuation floor the companies set in 2019. Comcast and Disney have already held talks about Hulu this year, Disney CEO Bob Iger said last week.
We are highly grateful to the Indian authorities for allowing us to resume operations of BGMI: BGMI spokesperson. Union Minister of State for Electronics and IT Rajeev Chandrasekhar said on Twitter that this is a three-month trial approval of BGMI. BGMI was pulled down from Google and Apple stores following a government order in July 2022.
🏭Business Nuts
Apple execs were reportedly skeptical about the headset, with one likening it to a 'science project'
Apple's augmented reality headset's development was hampered by Tim Cook's relative noninvolvement in the project. People familiar with the project said it cost Apple over $1 billion annually. Some of Apple's top executives have shown concern about the project. The project has changed direction significantly since work began. Apple has reportedly lowered its sales estimates for the headset.
This article highlights how the Federal Reserve's aggressive interest rate hike regime is causing potential instability in the economy. The piece outlines how the government could lose control due to unforeseen side-effects of these rapid rate increases, affecting the long-term bond market's liquidity. The economy has already suffered serious damage from these rapid rate hikes, with the downfall of several regional banks in the U.S. The Treasury Department's plan to reintroduce a debt buyback program unseen in over 20 years is seen as a potential sign of this hidden instability. This instability has been a boon for crypto since the beginning of the year.
📱Tech Nuts
OpenAI has released a free ChatGPT app for iPhones in the US. The app supports voice input, and it synchronizes chat history with the web version of the AI assistant. ChatGPT Plus subscribers have access to similar features as the web version. The app will roll out to more countries in the coming weeks. It will be available for Android 'soon.' Screenshots from the app are available in the article.
Sightful's Spacetop laptop uses augmented reality glasses to create a 100-inch virtual display. The laptop does not have a screen. It is designed for business travelers who want a massive private display. The Spacetop has an optimized Arm processor and runs on an open-source Android operating system. The tethered headset provides a 53-degree diagonal field of view. Pictures and a video showing off the device are available in the article.
🎁Miscellaneous
Scientists at the Swiss Federal Institute of Technology in Zurich have created a sapphire crystal that exists in a quantum-mechanical superposition of two vibrational states. The 16-microgram crystal is the largest object ever to exist in the quantum superposition state. Larger objects do not follow quantum mechanics, even though they are composed of particles that obey the rules of quantum mechanics. Finding larger quantum superposition states allows scientists to stretch the limit of observed quantum-mechanical objects.
💡What else are we reading and seeing?
😎Fun Fact
The first mutual fund was created in 1824.
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