TikTok Faces Tough Court Battle Over U.S. Ban ⚖️

Good morning. It's Tuesday, Sept. 17, and we're covering, Intel Stock Soars On Plan To Spin Off Foundry Business, Sam Altman Steps Down From OpenAI’s Safety Committee, Trump Blames Biden And Harris For Assassination Attempt, 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 $2.04 Trillion, a 0.12% increase in the last 24 hours.

• The total crypto market volume over the last 24 hours is $61.68B, which makes a 11.22% increase.

• The total volume in Defi is currently $3.01B, 4.87% of the total crypto market 24-hours.

• The volume of all stablecoins is now $56.87B, which is 92.19% of the total market 24-hour volume.

• Bitcoin’s dominance is currently 56.73%, a decrease of 0.02% over the day.

BUSINESS & FINANCE

Intel Stock Soars On Plan To Spin Off Foundry Business And Explore Outside Funding

Intel's stock jumped 8% after the company announced plans to turn its foundry business into an independent unit with its own board and the potential to raise outside capital. This move is part of CEO Pat Gelsinger's strategy to turn around the struggling chipmaker, which has faced steep competition and declining market share. Intel also plans to sell part of its stake in Altera. Intel also extended its partnership with Amazon Web Services (AWS) to produce custom AI chips, further competing with Nvidia in the AI chip market.

Why It Matters: Before this post market boost, Intel had lost nearly 60% of its value in 2024, largely due to increased competition from companies like Nvidia, which has dominated the market for chips that power artificial intelligence (AI) workloads. Intel reported its worst quarterly results in 50 years and announced plans to cut more than 15% of its workforce as part of a $10 billion cost-reduction effort. (Read Deeper)

Apple iOS 18 Update Is Live: New Security Features To Protect Your Privacy

Apple has launched iOS 18, the latest version of its iPhone operating system, featuring security and privacy enhancements. While the release coincides with the launch of the iPhone 16 and Apple Intelligence AI, privacy experts highlight the importance of the new software's protective features. Apple Intelligence, the company's AI platform, will soon offer privacy protections through on-device processing, allowing users to benefit from AI without sacrificing personal data security.

Takeaway: iOS 18 introduces a standalone Passwords app, improving on the iCloud Keychain by alerting users to weak or compromised passwords and enhancing credential management. The update also allows users to lock or hide apps, providing additional privacy for shared devices. Furthermore, users gain more control over how their contacts are shared with apps, and a new feature gives a clearer overview of what data apps are accessing, such as location, health information, and files. ( Read Deeper )

TECHNOLOGY & SCIENCE

Sam Altman Steps Down From OpenAI’s Safety Committee

Sam Altman, CEO of OpenAI, has stepped down from the company's Safety and Security Committee, which oversees important safety decisions for OpenAI's projects. The committee will now operate independently under Carnegie Mellon professor Zico Kolter, alongside other existing board members, including Quora CEO Adam D’Angelo and retired U.S. Army General Paul Nakasone. Despite Altman’s departure, questions remain about the committee's ability to make tough decisions that could impact OpenAI’s commercial goals.

Takeaway: Altman’s exit follows increased scrutiny from U.S. lawmakers and former OpenAI staff, with concerns about the company's safety policies and its focus on profit. OpenAI has significantly ramped up its lobbying efforts and is reportedly raising over $6.5 billion in a funding round that could value the company at $150 billion. Critics, including ex-board members, argue that OpenAI's focus on profit may conflict with its original mission of developing AI for the benefit of humanity. (Read Deeper)

TikTok Faces Tough Court Battle Over U.S. Ban As National Security Concerns Loom

TikTok and its parent company ByteDance faced tough questioning from a federal appeals court as they challenged a U.S. law that could ban the app by January 19, 2025. During the hearing, TikTok’s lawyer, Andrew Pincus, argued that the law violates free speech protections under the First Amendment and that the U.S. government has not proven TikTok poses a national security risk. The U.S. government claims the app, used by 170 million Americans, allows China to access personal data, posing a threat.

Why It Matters: The law, signed by President Joe Biden in April 2024, gives ByteDance until January to divest TikTok’s U.S. assets or face a ban. Justice Department lawyer Daniel Tenny defended the law, warning of potential Chinese manipulation through the app’s code. The three-judge panel raised concerns about TikTok’s national security risks, including challenges in reviewing the app’s massive and frequently updated source code. The court is expected to make a ruling by December 6, possibly allowing the Supreme Court to hear an appeal before a ban is enforced. ( Read Deeper )

AROUND DE WORLD & POLITICS

Trump Blames Biden And Harris For Assassination Attempt

Former President Donald Trump, in his first interview after an assassination attempt, blamed the incident on the rhetoric of President Joe Biden and Vice President Kamala Harris. Trump claimed the shooter acted based on their portrayal of him as a threat to democracy, calling their language inflammatory and divisive. Despite calling for Democrats to tone down their rhetoric, Trump escalated his own, accusing his opponents of trying to destroy the country and labeling them "the enemy from within." He also posted "FIGHT, FIGHT, FIGHT" on Truth Social after the interview.

Takeaway: Despite calling out his opponents for inflammatory language, Trump has been known for his own history of incendiary remarks. Just last week, he spread a baseless rumor claiming that Haitian residents in Springfield, Ohio, were abducting and eating pets, which led to threats against local schools and government buildings. (Read Deeper)

Putin Expands Russian Military To 2.4 Million As Eastern Ukraine Battles Intensify

Russian President Vladimir Putin has issued a decree increasing the size of the Russian military to 2.4 million personnel, with 1.5 million soldiers, marking the third such expansion since the February 2022 invasion of Ukraine. The new target adds 50% more troops compared to the initial military size at the start of the war. The move follows a previous increase in December 2022 when the military’s strength was raised to 2.2 million. The Russian Defense Ministry has yet to comment, but past expansions were reportedly filled by recruiting volunteers.

Takeaway: Ukrainian forces launched a surprise attack in the western Russian region of Kursk, leading to fierce clashes. Ukrainian airborne troops released a video showing the destruction of a Russian tank in the region, though this footage has not been independently verified. As fighting continues in Russia’s Kursk region, Ukraine has invited the United Nations and the International Committee of the Red Cross (ICRC) to inspect the area for humanitarian purposes. (Read Deeper)

ENTERTAINMENT & SPORTS

Sean 'Diddy' Combs Arrested In New York After Indictment

Music mogul Sean “Diddy” Combs was arrested in Manhattan following a grand jury indictment, though the charges remain unclear. Combs' attorney, Marc Agnifilo, criticized the U.S. Attorney’s Office, calling the prosecution unjust. Agnifilo emphasized that Combs, known for his contributions to music, business, and philanthropy, has been cooperative and relocated to New York in anticipation of the charges. Combs' arrest follows federal investigations and lawsuits alleging sexual misconduct. Former Danity Kane member Dawn Richard recently accused him of verbal and sexual abuse. (Read Deeper)

Explained: The New Champions League Format For 2024/25

The 2024/25 UEFA Champions League introduces a new format called the "Swiss model," expanding the tournament from 32 to 36 teams. Instead of the previous group stage, all teams will play eight matches (four home and four away) in a single league phase. The top eight teams in the overall standings will advance directly to the last-16, while teams finishing between 9th and 24th will enter a playoff round for a chance to join them. Teams finishing 25th or lower will be eliminated from European competitions without dropping to the Europa League. (Read Deeper)

PODCAST(WHAT WE ARE LISTENING TO)

• Focusing on leadership pillars is crucial for building a high-performing organization and guiding managers out of crisis mode. (Listen)

EXTRA BREVITI

• Warren Buffett, despite being one of the world's richest individuals, holds firm to his philosophy of financial self-reliance, even when it comes to his children. ( Read More )

• Elon Musk Deletes Controversial X Post About Assassination Threats Against Biden and Harris After Backlash.( Read More )

• Microsoft's board has approved a new share buyback program of up to $60 billion, reflecting the company's continued commitment to returning value to shareholders. (Read More)