🤔Instagram Lowers Video Quality For Less Popular Content

☀️Good morning. It's Monday, Oct. 28, and we're covering, Oil Prices Plunge 5% Following Israeli Strikes On Military Targets In Iran, Meta Unveils NotebookLlama: An Open-Source Podcast Generation Tool, Trump Headlines Madison Square Garden Rally Amid Controversy Over Allies' Remarks, 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 [email protected] 

MARKETS

Cryptocurrency Prices by Market Cap

• The global cryptocurrency market cap today is $2.32 Trillion, a 3.45% increase in the last 24 hours.

• The total crypto market volume over the last 24 hours is $55.36B, which makes a 23.26% increase.

• The total volume in Defi is currently $3.36B, 6.44% of the total crypto market 24-hours.

• The volume of all stablecoins is now $49.91B, which is 90.15% of the total market 24-hour volume.

• Bitcoin’s dominance is currently 58.31%, an increase of 0.22% over the day.

Bitcoin ETFs Draw $21 Billion, Affect Gold Market

Spot Bitcoin Exchange-Traded Funds (ETFs) have gained significant traction this year, attracting $21 billion since January and outperforming gold in investment appeal. The rise of Bitcoin ETFs positions them as strong competitors to traditional gold investments, making them one of the fastest-growing financial products. (Read Deeper)

BUSINESS & FINANCE

Oil Prices Plunge 5% Following Israeli Strikes On Military Targets In Iran

Oil prices fell over 5% following Israeli airstrikes on military targets in Iran, which intentionally avoided the country's oil facilities, suggesting a potential de-escalation of regional tensions. Brent crude dropped below $73 a barrel, while West Texas Intermediate approached $68. The Israeli strikes were a measured response to an earlier missile attack from Iran and were conducted in line with requests from the Biden administration to avoid civilian and critical infrastructure.

Takeaway: Citigroup cut its Brent price forecasts, citing lower risks from the conflict. Iran's state media reported normal operations in its oil industry, and no immediate threats of retaliation were made. Analysts believe that the limited Israeli response will shift market focus back to oversupply concerns and weakening demand from China. OPEC+ plans to gradually increase oil production starting in December, with a meeting scheduled for December 1 to discuss output policy for 2025. (Read Deeper)

Asset Managers Launch New AI-Focused ETFs

Asset managers are rapidly rolling out new exchange-traded funds (ETFs) centered on artificial intelligence (AI) to tap into investor interest in this fast-growing sector. Over a third of AI-themed ETFs launched in 2024, amassing $4.5 billion in assets. Notable new funds include two actively managed BlackRock ETFs targeting emerging AI opportunities, alongside a recently rebranded cloud-computing ETF by Amplify with a new AI focus.

Takeaway: As companies like Microsoft and Amazon significantly boost AI spending, analysts anticipate a long-term impact on earnings, though current AI ETFs show mixed results, one large AI fund is up 20% in 2024, slightly lagging the S&P 500. Venture capitalists are also increasing AI investments, projecting $79.2 billion in funding by year-end. (Read Deeper)

TECHNOLOGY & SCIENCE

Meta Unveils NotebookLlama: An Open-Source Podcast Generation Tool

Meta has launched NotebookLlama, an open-source version of Google’s viral podcast generation feature from NotebookLM. Utilizing Meta’s Llama models, NotebookLlama allows users to create podcast-style discussions from text files, such as PDFs of articles or blog posts. The process involves generating a transcript of the uploaded text, adding dramatic elements and interruptions, and converting it to speech using open text-to-speech models.

Takeaway: The early samples of NotebookLlama reveal a robotic quality to the voices, with instances of overlapping speech. Meta acknowledges that the limitations in voice quality stem from the text-to-speech model currently in use and suggests future improvements could come from stronger models or a different approach, such as using multiple agents to create more dynamic discussions. (Read Deeper)

Instagram Lowers Video Quality For Less Popular Content, Raises Concerns Among Users

Instagram is lowering the video quality for less popular content, as explained by Adam Mosseri, the Meta executive overseeing the platform. He stated that videos that don’t gain immediate traction will be displayed in lower quality, while more popular videos will have higher quality. This approach aims to optimize video presentation based on viewer engagement patterns, where most views occur shortly after posting. The policy raises questions about equity for smaller creators on the platform.

Takeaway: While this method aligns with previous Meta policies, it has drawn criticism from users who argue that it unfairly benefits established creators. Mosseri clarified that the adjustments are made on an aggregate level, meaning individual viewer interactions do not affect video quality. He acknowledged concerns about the system favoring popular creators but suggested that the impact of video quality on engagement is minimal compared to the actual content. (Read Deeper)

AROUND DE WORLD & POLITICS

Trump Headlines Madison Square Garden Rally Amid Controversy Over Allies' Remarks

Donald Trump held a campaign rally at Madison Square Garden in New York, where he reiterated his hardline stance on immigration and criticized his opponent Kamala Harris. The rally attracted controversy as some of Trump’s allies, including Rudy Giuliani and comedian Tony Hinchcliffe, made racially charged and offensive remarks. Elon Musk also spoke at the event, endorsing Trump’s plans for budget cuts.

Takeaway: Harris’s campaign responded by condemning the divisive rhetoric, while Trump dismissed criticisms, calling his rally a “Make America Great Again” event.  As both candidates focus on key battleground states, the polls show them nearly tied as the Nov. 5 election approaches. More than 38 million Americans have already voted, and both campaigns are gearing up for their final rallies with high-profile endorsements. (Read Deeper)

Japan’s Ruling Coalition Loses Majority In Lower House

Japan’s ruling coalition, led by Prime Minister Shigeru Ishiba, has lost its majority in the lower house of parliament, facing significant setbacks in the recent election. Ishiba’s Liberal Democratic Party (LDP) and its coalition partner Komeito secured only 215 seats, a sharp drop from the previous 279-seat majority. The opposition, led by Yoshihiko Noda’s Constitutional Democratic Party (CDPJ), made substantial gains, increasing its seat count from 98 to 148. However, the CDPJ’s lack of coalition partners makes it unlikely to unseat the LDP.

Takeaway: The loss, attributed to public frustration over corruption scandals and internal divisions, has raised political uncertainties. Political analysts suggest that Ishiba’s struggles stem from unmet public expectations, particularly regarding economic reform and social issues. Experts believe the LDP may need bold reforms to restore public confidence, or risk facing an era of unstable leadership. (Read Deeper)

ENTERTAINMENT & SPORTS

Ten Hag Blames 'Injustice' As Poor Finishing Costs Manchester United

Manchester United manager Erik ten Hag expressed frustration over a controversial late penalty that led to a 2-1 defeat against West Ham. He described the situation as "unfair and unjust," highlighting that his team had numerous scoring opportunities but failed to finish. The penalty was awarded after VAR intervened to review a challenge by Matthijs de Ligt on Danny Ings, which Ten Hag criticized as not an obvious error. Despite dominating possession and creating several clear chances, United has scored only eight goals in their first nine Premier League matches, resulting in a negative goal differential of -6.56. (Read Deeper)

Adele And Céline Dion Share Emotional Moment During Las Vegas Concert

In a heartwarming moment at her Las Vegas concert, British singing sensation Adele was visibly overcome with emotion upon spotting Canadian music icon Céline Dion in the audience. The unexpected reunion took place Saturday evening, as Adele interrupted her performance to share a tearful embrace with Dion, who is making a comeback after several years of treatment for Stiff Person Syndrome. Adele, who has long expressed her admiration for Dion's incredible talent, took a moment to celebrate the Canadian star's presence. (Read Deeper)

PODCAST(WHAT WE ARE LISTENING TO)

• Improving an investing operating system with Vitaliy Katsenelson, a well-known investor and author, would likely involve incorporating his insights and methodologies into various aspects of investment analysis and decision-making. ( Listen )

EXTRA BREVITI

• Nvidia has officially dethroned Apple as the world’s most valuable company, driven by soaring demand for its specialized artificial intelligence (AI) chips. (Read More)

• In a carefully controlled military operation early Saturday, Israel launched an assault on Iranian missile and air defense sites in response to Iran’s ballistic missile attack on October 1. (Read More)

• Indonesia has halted the sale of Apple's latest iPhone 16 in the country, citing the company's failure to meet local investment requirements. (Read More)

• Taiwan Semiconductor Manufacturing Company (TSMC) has suspended shipments to Chinese chip designer Sophgo after a TSMC chip was discovered on Huawei's Ascend 910B AI processor.. (Read More)

• Google is reportedly nearing the unveiling of an AI agent, codenamed Project Jarvis, designed to operate web browsers and automate everyday tasks for users. (Read More)