GM Money Masters, 👋
Humans have progressed a lot since we discovered fire, but all the technological advancements that we enjoy often come with a caveat. We need to spend a lot of resources to keep on improving and AI is no exception. In fact, it has a dark side.
Speaking of dark sides, the EU Commission may potentially break up Google’s advantage in online advertisement. The regulatory body believes that the search giant has enjoyed an unfair advantage over its rivals.
While we’re talking about negative news, we might as well include our favorite billionaire. Elon’s new Cybertruck is getting negative publicly because it is deemed to be too dangerous.
Let’s get the ball rolling. ⛹️
MONEY MASTERY BRIEF
- Water Crisis Aggravated by AI
- Bad Google!
- Shop the Right Size with AI
- The Tesla Cybertruck’s Tough Exterior is Dangerous
🚰 Water Crisis Aggravated by AI
Did you know that AI development is putting a strain on one of the most important things to sustain life? An eye-opening research paper found out that AI development has a dark secret and is consuming enough water to satisfy the water needs of millions of people. Yup, the complete anti-thesis to MrBeasts 100 water wells.
AI models don’t drink water (or at least not yet), but the data centers, that are the hearts of each artificial intelligence model, require a lot of it to cool down. Shaolei Ren, a researcher at the University of California, published a paper with his colleagues. According to their research, ChatGPT uses 500 milliliters of water for every 10 to 50 prompts. That is just a bit more than a couple of cups, but multiply that by millions of users per day. So yeah, we are destroying our environment every time we ask our favorite digital companion for a joke or to do our homework for us.
Tech giants like Microsoft (NASDAQ: MSFT) and Google (NASDAQ: GOOGL) have reportedly increased their water usage. Microsoft has increased its consumption by a third from 2021 to 2022. Its global facilities gulped down 1.7 billion gallons of water, which is enough to fill up 2.500 Olympic-sized pools.
Google has thirstier facilities since its data center and offices used 5.6 billion gallons of water in 2022, which is equivalent to the annual consumption of more than 50 million people.
But don’t pick up those pitchforks yet, both companies have promised to work on their water footprint and zero waste by 2030. Until then, try to cut down on asking ChatGPT to tell you a joke, or skip the shower – your choice.
😈 Bad Google!
The European Commission (EC) is not happy with Google, because the latter is allegedly not playing fair in the playground. The EC thinks the tech giant is cheating by favoring its services over those of its rival. And it seems like the punishment will hurt because the regulator is considering a potential break-up order, which targets Google’s lucrative online ad tech business.
The EU’s five-year investigation points to allegations that Google holds the dominant market position in both the online advertising supply chain and demand chain. This gives the search giant the leverage to favor its exchange, AdX, in matching auctions for online advertisement space. Google’s vast data collection also gives it a humongous advantage since it allows it to target audiences more effectively.
Of course, Google cries foul and retorts that the possible order is disproportionate and insists that this is not the right outcome for this case. This is kind of expected since no self-respecting company would admit to any business hanky panky. Besides, its advertising revenue is the goose that lays the golden egg. In 2022, the company’s ad revenue amounted to $224.5 billion.
Google can still plead its case, however, they better come prepared. It is either they convince the commission or face the consequences. A failure to comply with the regulator’s order may result in fines equal to 10% of the tech company’s global revenue. That is one painful spanking.
🛍️ Shop the Right Size with AI
Have you ever been disappointed with your online purchase because you chose the wrong size? Well, there is an AI to solve this problem. MySizeID (TLV: MYSZ) has developed an algorithm that learns the habits and measurements of users. It sounds like a creepy stalker, but it actually reduces returns by 30 to 50%. MySizeID has already partnered with over 100 retailers, including Levi’s and Canali. It saves the store money and reduces customer frustration – a win-win situation.
Through the MySizeID’s AI, the customer is informed what size they really need for a particular item. So stop pretending that your size hasn’t changed for the last ten years because the AI will remember if you have returned an item that is too small. It will recommend the right one the next time you decide to shop. This will probably motivate us better to lose weight compared to a gym trainer.
💪 The Tesla Cybertruck’s Tough Exterior is Dangerous
The Tesla Cybertruck looks like it could take a beating. The tank-like EV is something that you would like to drive if all hell breaks loose in the suburb. It could probably take you home safely since it is one of the few EVs that have been tested with arrows and bullets.
However, some experts are questioning the wisdom of using a stiff stainless steel exoskeleton, since it may hurt pedestrians and cyclists, and damage other vehicles on the road. The concern stems from the thick stainless steel body, causing more damage if people hit their heads on it. The lack of crumple zones is also being questioned, which is bad news for the occupants, but any collision will be much worse for other vehicles. Most modern cars will crumple like a can of soda if it goes against an “armored” vehicle
Tesla CEO Elon Musk quickly dismissed the criticisms of the EV’s design and said that they are highly confident the Cybertruck will be much safer per mile compared to other trucks, both for occupants and pedestrians.
Whether Elon or the experts are correct remains to be seen. But with all the insane things happening in the world, would you rather drive a car clad in paper-thin aluminum or an EV that can outrun sports cars and whose door panels can deflect bullets at the same time?
Btw, check out our market analysis on Tesla, in case you are contemplating of adding TSLA to your portfolio.
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“The greatest investment a young person can make is in their own education, in their own mind. Because money comes and goes. Relationships come and go. But what you learn once stays with you forever.”
– Warren Buffet, AKA the Oracle of Omaha
$456 billion. The top 10 US billionaires became richer by collectively increasing their worth by almost half a trillion dollars. Tech tycoons like Elon Musk, Jeff Bezos, and Mark Zuckerberg are leading the list.
Nvidia (NASDAQ: NVDA) will set up a base in Vietnam, according to the Vietnamese government. The chipmaker’s CEO Jensen Huang said that the company wants to setup a center in the country, as it views it as its home. Nvidia has already invested $250 million in the country, which is also home to large chip assembling factories, including Intel’s (NASDAQ: INTC). Full story
Apple’s (NASDAQ: AAPL) design chief is about to leave the company. Tang Tan, Apple’s VP of product design, will leave the company in February next year. Tan was important in the design of the iPhone and Apple Watch, the tech giant’s primary products. Full story
Apple (NASDAQ: AAPL) is not taking Beeper Mini Lightly and has quickly shut down the app that allows Android users to send messages with blue bubbles. Apple said, “We took steps to protect our users by blocking techniques that exploit fake credentials in order to gain access to iMessage”. Full story
Tesla’s (NASDAQ: TSLA) Cybetruck has been approved for a $7,500 EV tax credit. However, the credit is only available for models that will not exceed $80,000. According to the US Department of Energy, two variants will qualify for the full credit. The bad news is those eligible models will be delivered starting in 2024, so tough luck for buyers in 2023. Full story
Rakuten (TYO: 4755) has announced plans to create its own proprietary AI large language model (LLM). The Japanese company has several businesses ranging from banking, e-commerce, and telecoms. Because of its expansive business nature, it also has a large amount of unique datasets to train its AI. Its CEO Hiroshi Mikitani said that “nobody has a dataset like we do” and expects to “have something within a couple of months. Full story
The DXY or the US Dollar Index is forming a potential inverse head and shoulder pattern. An inverse head and shoulder pattern is seen as a bullish reversal. Will it break that neckline and go up?
The Tesla Cybertruck is probably one of the toughest EVs on the planet. However, its safety for other cars and pedestrians is being questioned. Admittedly, its design is not for everybody but it might be for people who need something that could survive a rough neighborhood or a zombie apocalypse.
How about you guys, do you think a tank-like EV is a good buy?
Let us know by replying YES or NO to this email.
Thanks for reading, and may your investments thrive. 🙂
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