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Today’s Menu

• The Rise of AI Hardware: A Game Changer or Just Hype?

• Are Gains Built on Shaky Foundations?

Markets

TODAY IN AI

The Rise of AI Hardware: A Game Changer or Just Hype?

In a surprising move, Jony Ive, former chief designer at Apple, is teaming up with OpenAI CEO Sam Altman to create an AI-powered hardware device. This marks Ive's first major venture since leaving Apple, and the duo aims to develop a computing experience that is “less socially disruptive than the iPhone.”

The project has already garnered private funding, with plans to secure up to $1 billion in startup funding by year’s end. Ive's design firm, LoveFrom, is at the helm of the device's design, supported by a team of former Apple executives. Although details remain under wraps, the device is expected to utilize generative AI for more complex user interactions.

This collaboration hints at a significant shift in tech dynamics, especially as OpenAI and Apple deepen their ties with ChatGPT integration on the iPhone 16.

The real question is whether combining Ive's renowned design ethos with OpenAI's cutting-edge technology will yield a product that is genuinely beneficial or just another flashy gadget that fails to deliver.

^{Today In Crypto}

Are Gains Built on Shaky Foundations?

Crypto prices are cautiously rising, with Bitcoin at $63,500 (up 1.3%) and Ethereum at $2,650 (up 2.7%). Recent liquidation data shows more short positions being closed than longs.

Following last week's 50 basis-point interest-rate cut, digital asset products saw a net inflow of $321 million, mainly driven by Bitcoin, while Ether products faced continued outflows.

Now that we have lower interest rates, I predict that a lot of people who have been holding off on purchasing real estate will be looking into buying (so that they can take advantage of lower rates).

Every investment has an opportunity cost (capital allocated to real estate is capital allocated away from crypto).

BUT lower rates also make it cheaper to take out debt. And crypto degens LOVE debt.

Tough to say how this will effect the crypto markets but ultimately I think things will be in a state of flux until the election is over.

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Thanks for reading!

Until next time,

Damon James