Donald Trump Convicted 😲

Good morning. It's Friday, May. 31, and we're covering Billionaire Eric Lefkofsky Plans Fourth IPO, TikTok Plans U.S.-Specific Algorithm Amid Political Pressure, ANC Faces Historic Loss Of Majority In South African Parliament, 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 $2.54 Trillion, a 0.06% increase in the last 24 hours.

• The total crypto market volume over the last 24 hours is $83.07B, which makes a 0.58% increase.

• The total volume in Defi is currently $5.9B, 7.11% of the total crypto market 24-hours.

• The volume of all stablecoins is now $78.22B, which is 94.16% of the total market 24-hour volume.

• Bitcoin’s dominance is currently 53.07%, a decrease of 0.41% over the day.

BUSINESS & FINANCE

Billionaire Eric Lefkofsky Plans Fourth IPO with AI Health Tech Firm Tempus

Eric Lefkofsky, the billionaire entrepreneur with a net worth nearing $4 billion, is gearing up for his fourth public listing. Known for his high-profile ventures, Lefkofsky is currently focused on Tempus, a genomic testing and data analysis company that is preparing for an IPO. Lefkofsky is best recognized for co-founding Groupon, the daily deals giant that went public in 2011 with a valuation nearing $13 billion. Despite its notable debut, Groupon's IPO and subsequent years were marred by financial controversies and regulatory scrutiny.

Why it matters: With Tempus, Lefkofsky is aiming to build a lasting, valuable company in the burgeoning field of AI and healthcare. The upcoming IPO will test whether his latest venture can overcome past controversies and deliver sustainable growth and value for investors. ( Read Deeper )

Dell Shares Dip Despite Robust AI Server Growth

Dell experienced a t drop in its share price, falling over 17% in extended trading on Thursday. despite the positive financial performance and significant growth in its AI server business. For the current quarter, Dell projected an adjusted profit per share of $1.65, which is below the analysts' average estimate of $1.84, according to LSEG data. The company's adjusted gross margin rate is expected to decline by about 150 basis points in fiscal 2025.

Takeaway: Dell has also recently unveiled a range of AI-enabled PCs powered by Qualcomm's latest chips, which will be available from the second half of 2024. This move is part of Dell's strategy to leverage AI technology to drive future growth. ( Read Deeper )

TECHNOLOGY & SCIENCE

TikTok Plans U.S.-Specific Algorithm Amid Political Pressure

TikTok is developing a separate version of its core recommendation algorithm for its 170 million U.S. users, aiming to operate independently from its Chinese parent company ByteDance. This move is designed to appease American lawmakers who are, pushing for a ban on the app due to national security concerns. The initiative to split the source code began late last year under ByteDance's directive, predating the legislation aimed at forcing the sale of TikTok's U.S. operations, which gained traction in Congress this year and was signed into law in April.

Why it matters: The primary driver behind TikTok's initiative to develop a U.S.-specific algorithm is the heightened national security concerns among American lawmakers. There is significant bipartisan fear that TikTok's Chinese ownership could allow the Chinese government access to vast amounts of data on American users, which could be used for espionage or to influence public opinion. ( Read Deeper )

Acer Unveils New Predator Gaming Monitors with Speedy OLED Screens

Acer has expanded its Predator lineup with three new gaming monitors, all equipped with advanced OLED displays and impressive refresh rates, aimed at providing an enhanced gaming experience. The new models — Predator X27U F3, Predator X34 X5, and Predator X32 X3 — promise to deliver superior visual quality and performance for gamers. These monitors are designed to work seamlessly with NVIDIA's G-SYNC and AMD's FreeSync Premium Pro technologies, effectively preventing tearing, stuttering, ghosting, and input lags.

Takeaway: Acer's new Predator gaming monitors incorporate the latest OLED technology, which offers superior color accuracy, deeper blacks, and higher contrast ratios compared to traditional LCD monitors. With refresh rates of up to 480 Hz, these monitors cater to competitive gamers who need ultra-smooth gameplay to stay ahead. ( Read Deeper )

AROUND DE WORLD & POLITICS

Donald Trump Found Guilty on All Counts

Former U.S. President Donald Trump made history on Thursday by becoming the first U.S. president to be convicted of a crime. A New York jury found him guilty of falsifying business records to cover up a payment made to silence a porn star ahead of the 2016 election. Trump, 77, was found guilty of falsifying documents to hide a $130,000 payment to Stormy Daniels, intended to silence her about an alleged sexual encounter in 2006. Trump has denied the affair and any wrongdoing. Justice Juan Merchan has scheduled Trump's sentencing for July 11, just before the Republican Party is set to formally nominate its candidate for the upcoming presidential election on November 5.

Takeaway: The conviction carries a maximum sentence of four years in prison, but Trump will not be jailed before sentencing. This conviction could affect Trump's campaign, as opinion polls indicate a tight race between Trump and Democratic President Joe Biden, 81. If Trump wins the 2024 election, he could influence ongoing federal cases against him. However, he would not be able to interfere with state-level prosecutions, such as the election subversion case in Georgia. ( Read Deeper )

ANC Faces Historic Loss Of Majority In South African Parliament

For the first time since its ascension to power 30 years ago, South Africa's ruling party, the African National Congress (ANC), is poised to lose its parliamentary majority, With over 50% of voting districts counted, the ANC leads with 42% of the vote, a significant drop from the 57% it secured in 2019. Voter dissatisfaction stems from high levels of corruption, crime, and unemployment, leading to a dramatic decline in support for the ANC.

Takeaway: President Cyril Ramaphosa's leadership is in jeopardy, with potential calls from within the ANC for his resignation if the party secures less than 45% of the vote. South Africans vote for members of parliament, who then elect the president. The initial results indicate severe losses for the ANC to MK in KwaZulu-Natal, Zuma's home province, where MK leads with 43% compared to the ANC's 21%. ( Read Deeper )

ENTERTAINMENT & SPORTS

FIFA Faces Player Strike Threat Over Overcrowded Football Calendar

Football's world governing body, FIFA, has been warned that players may resort to striking if the issue of being overworked is not addressed. Maheta Molango, Chief Executive of the Professional Footballers’ Association (PFA), has indicated that players are reaching their breaking point due to an increasingly congested football calendar. ( Read Deeper )

Ryan Reynolds Joins Wife Blake Lively For Taylor Swift's Second Eras Tour

Ryan Reynolds made a special trip to Spain to join his wife, Blake Lively, in watching their friend Taylor Swift perform at Santiago Bernabéu Stadium. The Grammy-winning artist's Eras Tour has been a massive hit, and the couple attended Swift’s second concert night in Madrid on Thursday, May 30. ( Read Deeper )

PODCAST(WHAT WE ARE LISTENING TO)

• Are you struggling to convert leads during your webinars, or perhaps feeling like your approach may be out of date?( Listen )

EXTRA BREVITI

• Nigerian official says gunmen ‘made tea’ as they kidnapped at least 160 in the hours-long deadly raid. ( Read More )

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