📈Bitcoin Crashes 25% From Its All-time High

☀️Good morning. It's Friday, Feb. 28, and we're covering, Autodesk To Cut 1,350 Jobs Amid Profitability Push, Amazon Enters Quantum Computing Race With It 'Ocelot' Chip, Trump And UK PM Keir Starmer Discuss Trade Deal And Ukraine, and much more. First time reading? Sign up to get this newsletter: Sign up here.  
We always Listen and respond to questions and feedback, email us at hello@dailybrevity.com

MARKETS

Cryptocurrency Prices by Market Cap

• The global cryptocurrency market cap today is $2.65 Trillion, a 6.40% decrease in the last 24 hours.

• The total crypto market volume over the last 24 hours is $155.23B, which makes a 1.76% decrease.

• The total volume in Defi is currently $9.13B, 5.88% of the total crypto market 24-hours.

• The volume of all stablecoins is now $147.83B, which is 95.24% of the total market 24-hour volume.

• Bitcoin’s dominance is currently 59.80%, an increase of 0.72% over the day.

Bitcoin Crashes 25% From Record High As Market Selloff

Bitcoin has plunged 25% from its all-time high of $109,241 reached on January 20, following initial optimism around Donald Trump’s election win. As of Friday morning in Singapore, Bitcoin was trading at $82,220, marking its lowest level since November. The broader crypto market, including Ether, Solana, and XRP, is also experiencing steep declines. The selloff comes as investors scale back risk exposure, reacting to weak U.S. economic data and Trump’s aggressive tariff policies targeting Canada, Mexico, and China. Analysts suggest uncertainty over crypto regulations under Trump is also weighing on sentiment. (Read Deeper)

BUSINESS & FINANCE

Autodesk To Cut 1,350 Jobs Amid Profitability Push

Autodesk Inc. is laying off 1,350 employees (about 9% of its workforce) as part of a strategy to boost profitability, following investor pressure, including from activist hedge fund Starboard Value LP. CEO Andrew Anagnost stated that the cuts aim to streamline sales processes and accelerate AI investments, denying any external influence. Autodesk forecasts a higher-than-expected 36.5% operating margin and $6.93 billion in revenue, aligning with analyst estimates.

Why It Matters: The engineering software giant has faced scrutiny due to accounting issues that led to a CFO change. Starboard has pushed for higher margins and even considered replacing Anagnost. Despite these challenges, Autodesk’s Q4 earnings beat expectations, with profit at $2.29 per share and revenue up 12% to $1.64 billion. The restructuring will cost $135M-$150M and should be completed by January 2026. (Read Deeper)

Duolingo Beats Revenue Estimates On AI-Powered Growth

Duolingo projected 2025 revenue above Wall Street expectations, fueled by the success of its AI-powered subscription features. The company's Max plan, which includes AI-driven video call simulations, has expanded to more languages, driving subscriber growth. Despite higher AI-related costs, Duolingo prioritizes innovation and expects expenses to decrease over time as its AI features scale.

Takeaway: Duolingo expects $962.5M–$978.5M in 2025 revenue, exceeding analyst estimates of $965.9M. The Max plan’s generative AI features increased costs, slightly impacting margins, with adjusted profit guidance of $259.9M–$274M (below expected $272.1M). A viral TikTok campaign featuring mascot Duo’s ‘fake death’ and comeback boosted engagement in February. (Read Deeper)

TECHNOLOGY & SCIENCE

Amazon Enters Quantum Computing Race With It 'Ocelot' Chip

Amazon Web Services (AWS) has unveiled Ocelot, a new prototype quantum computing chip designed to improve error correction and scalability—two major hurdles in the field. AWS claims Ocelot can enhance quantum error correction efficiency by up to 90%, using a technology called cat qubits, which naturally suppresses certain types of errors. Quantum computing has the potential to revolutionize industries by solving complex problems in drug discovery, cryptography, and materials science.

Takeaway: The announcement comes as the quantum computing race intensifies, following recent breakthroughs from Google (Willow chip) and Microsoft (Majorana 1 chip). While Amazon's approach builds on existing superconducting technology, Microsoft’s relies on a radically different topological method that may require fewer corrections. (Read Deeper)

Meta To Launch Standalone AI App To Compete With ChatGPT

Meta is set to release a standalone Meta AI app in Q2 2025, marking a major step in CEO Mark Zuckerberg’s plan to position the company as a leader in AI. Currently embedded within Facebook, Instagram, WhatsApp, and Messenger, Meta AI will soon function as a separate app, similar to OpenAI’s ChatGPT and Google’s Gemini. With intense internal pressure to accelerate AI development, Meta is betting big on AI, smart glasses, and the future of social media as core technologies for its next phase of growth.

Takeaway: Meta plans to monetize Meta AI by introducing premium features, following the model of ChatGPT Plus and Microsoft Copilot. With 700 million monthly active users, Meta AI is seeing high engagement, especially in India and on WhatsApp. Zuckerberg wants it to be the most-used AI chat app globally by year-end. Meta joins Google and Elon Musk’s xAI in rolling out dedicated AI apps, while OpenAI CEO Sam Altman hinted at a possible social app in response. (Read Deeper)

AROUND DE WORLD & POLITICS

Trump And UK PM Keir Starmer Discuss Trade Deal And Ukraine

During UK Prime Minister Keir Starmer’s visit to the White House, President Donald Trump suggested that a US-UK trade deal could be finalized “very quickly”, potentially avoiding tariffs he has threatened on other allies. The two leaders agreed to work on an economic agreement focused on artificial intelligence, with Starmer highlighting AI’s potential to drive innovation and even cure cancer.

Takeaway: Trump indicated that a bilateral trade agreement could make UK tariffs unnecessary, while Starmer emphasized the fair and reciprocal nature of US-UK trade. Starmer pushed for US security guarantees to prevent a future Russian invasion of Ukraine. Trump responded by pointing to an upcoming minerals agreement with Ukraine as a potential deterrent. ( Read Deeper)

Pope Francis Battles Vatican Budget Crisis Amid Cardinal Opposition

Before his hospitalization, Pope Francis clashed with top Vatican officials over how to fix the Church’s growing financial deficit, which reached €83 million ($87M) in 2024, up from €33M in 2022. The Pope pushed for budget cuts and external donations, but faced strong resistance from senior cardinals. The Pope created a new commission to encourage contributions from lay Catholics and wealthy foundations.

Takeaway: The last reported shortfall was €83M ($87M) in 2024, up from €33M in 2022. The Vatican’s pension liabilities, estimated at €631 million, may have grown further. The Vatican does not issue debt, collect taxes, or sell bonds. Revenue comes mainly from donations, real estate investments, and Vatican Museums. The upcoming Jubilee Year is expected to bring 32 million visitors, but experts doubt it will fully solve the crisis. (Read Deeper)

ENTERTAINMENT & SPORTS

Jose Mourinho Handed Four-Match Ban for Comments After Istanbul Derby

Fenerbahce manager Jose Mourinho has been handed a four-game suspension and £35,194 in fines following controversial remarks after his side’s 0-0 draw against Galatasaray in the Istanbul derby. Mourinho questioned the competence of Turkish referees, stating that had the fourth official been in charge, the match would have been a "disaster." Galatasaray accused Mourinho of making racist comments, though Fenerbahce defended him, saying his remarks were taken out of context. (Read Deeper)

Gene Hackman And Wife Betsy Arakawa’s Deaths Deemed ‘Suspicious’ By Investigators

The deaths of Hollywood legend Gene Hackman, 95, and his wife Betsy Arakawa, 63, have been labeled “suspicious” by investigators, though no obvious signs of foul play have been found. Hackman and Arakawa, along with one of their dogs, were found dead in their Hyde Park residence on Wednesday afternoon. A maintenance worker alerted authorities after noticing the front door was open. Arakawa’s body was found in the bathroom with pills scattered nearby and a space heater close to her head. (Read Deeper)

PODCAST(WHAT WE ARE LISTENING TO)

• The pursuit of Artificial General Intelligence (AGI) has become a focal point for several leading technology companies, including OpenAI, Google, NVIDIA, xAI, Anthropic, and Microsoft. Each of these organizations brings unique strengths and strategies to the table, making it challenging to predict a definitive frontrunner in the race to AGI. (Listen)

EXTRA BREVITI

• OpenAI Unveils GPT-4.5 ‘Orion’: Its Largest AI Model Yet. (Read More)

• Microsoft has released a native macOS app for its Copilot AI assistant, bringing the tool directly to Mac users in the U.S., U.K., and Canada. (Read More)

• Meta in Talks to Raise $35 Billion for AI Data Centers. (Read More)

• SEC Declares Meme Coins Are Not Securities, Shifts Crypto Regulation Approach. (Read More)