China's Robot Makers Unveil Humanoid Workers 🤖

Good morning. It's Friday, Aug. 23, and we're covering, Perplexity AI To Roll Out Ads, China's Robot Makers Race Tesla In The Quest To Deploy Humanoid Workers, Trump's Campaign Strategy Shifts Amid DNC Attacks, and much more. First time reading? Sign up to get this newsletter: Sign up here.

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MARKETS

Cryptocurrency Prices by Market Cap

• The global cryptocurrency market cap today is $2.16 Trillion, a 0.83% increase in the last 24 hours.

• The total crypto market volume over the last 24 hours is $57.96B, which makes a 17.72% decrease.

• The total volume in Defi is currently $3.98B, 6.86% of the total crypto market 24-hours.

• The volume of all stable coins is now $53.69B, which is 92.59% of the total market 24-hour volume.

• Bitcoin’s dominance is currently 55.63%, an increase of 0.36% over the day.

BUSINESS & FINANCE

Perplexity AI To Roll Out Ads

Perplexity AI, an AI-assisted search startup, is set to introduce ads on its platform in the fourth quarter of 2024 as it continues to grow in popularity. The company’s app, which handles over 230 million queries monthly, has faced plagiarism controversies from media outlets like Forbes and Wired. Perplexity updated its citation methods and launched a revenue-sharing model with publishers.

Why It Matters: Now valued at over $1 billion, the company will use a high CPM ad model, Perplexity will employ a CPM (cost per thousand impressions) pricing structure, with rates expected to be above $50, well above the industry average. focusing on categories such as technology and health, while competing with AI search rivals like Google and OpenAI's SearchGPT. (Read Deeper)

Nvidia CEO Jensen Huang’s Stock Sales Raise Governance And Succession Concerns

Nvidia CEO Jensen Huang has been selling about $14 million in Nvidia stock daily this summer, leading to scrutiny over his compensation and the company’s governance. Despite still holding over 3.5% of the company, Huang’s frequent sales have raised questions about his confidence in Nvidia's future. His stock sales are conducted under a Rule 10b5-1 plan to avoid insider trading issues.

Takeaway: Critics argue that Jensen Huang’s substantial stock holdings and his selling practices could signal a lack of faith in the company's stock, potentially impacting investor confidence. There are also calls for better transparency in Nvidia’s succession planning and governance practices. (Read Deeper)

TECHNOLOGY & SCIENCE

China's Robot Makers Race Tesla In The Quest To Deploy Humanoid Workers

China is rapidly advancing in the race to produce humanoid robots, aiming to challenge Tesla’s lead in the field. At the World Robot Conference in Beijing, nearly 30 Chinese companies showcased robots designed to replace human workers in factories and warehouses. Supported by government funding and a strong domestic supply chain, China's humanoid robot industry is following the same model that fueled its rise in the electric vehicle sector.

Why It Matters: Tesla plans to deploy over 1,000 of its Optimus robots in factories by next year, but Chinese competitors are rapidly catching up. Companies like Shanghai Kepler Exploration Robotics and UBTECH Robotics are working on cost-effective humanoid robots for mass production. However, experts caution that large-scale commercial use of humanoid robots could still be decades away. (Read Deeper)

NASA To Decide If Astronauts Will Return On Boeing’s Starliner Or SpaceX’s Dragon

NASA is set to make a critical decision this Saturday regarding the return of astronauts Butch Wilmore and Sunita Williams from the International Space Station (ISS). The question is whether the astronauts will return aboard Boeing's Starliner spacecraft or SpaceX's Dragon capsule. This decision follows a series of technical issues Starliner experienced during its June mission, including thruster malfunctions and helium leaks. Boeing and NASA have since been investigating these problems.

Takeaway: If Starliner is deemed unsafe for the astronauts, it will return to Earth autonomously, and Wilmore and Williams will ride home aboard a SpaceX Dragon capsule. This scenario could lead to changes in the upcoming SpaceX Crew-9 mission, potentially affecting astronaut assignments. The stakes are high for both NASA and Boeing, as Boeing has invested $1.5 billion in the Starliner program, and NASA has allocated $4.2 billion to support it. (Read Deeper)

AROUND DE WORLD & POLITICS

Trump's Campaign Strategy Shifts Amid DNC Attacks

Donald Trump is reportedly frustrated by the Democratic National Convention's attacks against him, which he feels are derailing his campaign message. Although Trump claims disinterest in the convention, he closely monitors it and reacts to the criticisms. His recent rallies focused on economic and policy issues, but the ongoing personal attacks have prompted him to shift his focus, leading to more controversial remarks and personal attacks on his opponents.

Takeaway: At a rally in North Carolina, Trump questioned whether he should continue sticking to policy or respond to the attacks, ultimately choosing to address them while promising to stick to policy. Trump's responses have included personal criticisms of Democratic figures such as Pennsylvania Governor Josh Shapiro and former President Barack Obama, with some of his comments being interpreted as racially charged. (Read Deeper)

Benue APC Executives Sue Ganduje-Led NWC For Contempt

The ongoing conflict within the Benue State chapter of the All Progressives Congress (APC) has escalated, with the dissolved state executive committee, led by Augustine Agada, taking legal action against the party's National Working Committee (NWC), chaired by Abdullahi Ganduje. The legal dispute centers around a court order issued by Justice Theresa Igoche of the Benue State High Court on Wednesday, August 21, 2024. The court had barred the NWC from dissolving the Benue State executive led by Agada, which was set to complete its four-year tenure.

Takeaway: The Ganduje-led NWC proceeded with the dissolution of the state executive committee later that evening. This move led Agada and his team to seek judicial intervention, filing a motion on Thursday accusing the NWC of contempt of court. Agada’s affidavit, prepared by his legal representative M.T. Aiyebo, highlights his surprise and frustration at the NWC’s actions. (Read Deeper)

ENTERTAINMENT & SPORTS

Chelsea Faces Scrutiny Over Oversized Squad And Transfer Strategy

Chelsea's ongoing squad management issues have become a focal point of scrutiny, with questions arising about the club's strategy under manager Enzo Maresca and the broader implications of their extensive recruitment and financial maneuvers. As of mid-August, Chelsea's roster includes a staggering 42 first-team players, a number that has led to criticism regarding the club’s recruitment practices and player management. Maresca recently confirmed that "more than 15" senior players are training separately from the first-team squad, with concerns mounting about the lack of clarity surrounding the future of these players. (Read Deeper)

Coldplay Covers Taylor Swift In Vienna Amid Security Concerns

Coldplay's Chris Martin paid tribute to Taylor Swift and her fans on Wednesday night with a heartfelt acoustic cover of Swift's 2008 hit "Love Story" during the band's concert at Vienna’s Ernst Happel Stadium. This performance is notable as it marks the first major act to headline the venue since the cancellation of Swift's Eras Tour shows earlier this month. (Read Deeper)

PODCAST(WHAT WE ARE LISTENING TO)

• In today’s rapidly evolving technological space, waiting for artificial intelligence (AI) to reach perfection before integrating it into your business could mean missing out on significant opportunities.. (Listen)

EXTRA BREVITI

• Indian Prime Minister Narendra Modi has arrived in Kyiv for crucial talks with Ukrainian President Volodymyr Zelensky. ( Read More )

• Bolt has taken action to address a troubling trend involving fake ride requests and cancellations by blocking several accounts engaged in the practice. (Read More)

• Vice President Kamala Harris closed out the Democratic National Convention on Thursday night with a powerful speech, formally accepting the Democratic Party's nomination for president. (Read More)