Ex-Morgan Stanley advisors are fighting the bank for deferred compensation. One case has opened the floodgates to more suits across Wall Street.

Why Wall Street's biggest wealth managers could face an avalanche of lawsuits thanks to one judge's ruling

The US Federal Reserve is on track to cut interest rates in June, according to Ellen Zentner, chief US economist at Morgan Stanley.

Fed on Track to Cut in June, Morgan Stanley’s Zentner Says - Bloomberg

Morgan Stanley, a bank holding company, provides diversified financial services on a worldwide basis. The Company operates a global securities business which serves individual and institutional investors and investment banking clients. Morgan Stanley also operates a global asset management business.

Morgan Stanley

84 Stories To Learn About Finance And Banking

There are few Wall Street performers as relentlessly innovative and impressive as Apple, but following a 3.3% slide and analyst downgrades, is AAPL no longer ripe for picking up and adding to investor portfolios? Apple’s challenging start to 2024 occurred when Barclays to ‘underweight’, slightly trimming the stock’s price target from $161 to $160. downgraded the tech giant’s stock The news came as a result of anticipated “lackluster” iPhone sales for the firm’s iPhone 15 model, with little optimism for fresh innovations packed into the upcoming launch of iPhone 16, scheduled for Q3 2024. “We are still picking up weakness on iPhone volumes and mix, as well as a lack of bounce-back in Macs, iPads and wearables,” explained Barclays analyst . Tim Long With unconfirmed reports of the Chinese government forbidding state employees from using iPhones, amid other general instances of more widespread regulatory scrutiny, it’s clear that the outlook for Apple has suffered a blow in recent months. from Bloomberg Apple’s status as an underweight stock means that the tech giants have now picked up five sell or equivalent ratings from analysts, according to Bloomberg data. With 34 buy ratings and 14 holds, AAPL’s stock recommendation consensus now stands at 4.08 out of a possible five, representing the Apple’s worst aggregated rating since October 2020. This comes despite the stock’s exceptional consistency even in the face of post-pandemic supply chain issues and widespread inflationary pressures. Apple climbed 50% in the calendar year 2023 and even briefly surpassed a market capitalization of $3 trillion as investors remained bullish about Apple’s prospects despite inflationary pressures on consumers. Addressing Apple’s Sales Shortfall While Apple reached new heights in 2023, its stuttering start to 2024 may offer a taste of reality for the tech giants as sales slowed to their lowest rate for more than a decade for smartphones among a range of product shortfalls. For the first time since its 2010 launch, Apple opted against releasing new iPad models in 2023. Sales for iPads according to Bank of America analyst Wamsi Mohan, while revenue dropped 3.4% to $28.3 billion. slipped 15% for the fiscal year 2023 Likewise, sales of Mac PCs and laptops fell almost 27% to $10.2 billion in fiscal 2023, while Bank of America estimates suggest that unit sales contracted by 11%. In addition to this, an over the Christmas period saw new Apple Watch models removed from Apple stores, with Morgan Stanley analysts estimating that the firm lost around $135 million in sales each day as the issue rumbled on. intellectual property dispute Is Apple Still the Stock it Once Was? There’s no doubt that AAPL is a Wall Street star. Boasting more than 20,000% growth since the start of the century, Apple has cemented itself as a key member of the FAANG collective of leading US tech stocks. However, recent struggles have highlighted that no stock is immune to the pressures of economic headwinds and falling consumer spending power. While Apple has made a disappointing start to 2024, investors can seek solace in that sentiment surrounding the stock is still high on a more long-term basis. Perhaps Apple’s biggest stock market boost can be found in Warren Buffett’s unwavering faith in the stock, with as much as concentrated on AAPL. This extremely heavy emphasis on Apple underlines the stock’s impressive record of securing growth even in the face of challenging economic conditions. 47.9% of Berkshire Hathaway’s portfolio Many market analysts have highlighted Apple’s ability to woo consumers with innovative new products that offer greater power, functionality, and efficiency than its competitors. While sales of the iPhone, Apple Watch, and Mac computers have all struggled in recent months, fresh optimism is growing for the new Apple Vision Pro, which could be transformative for the firm in the new year. “The sales momentum for Apple is expected to continue into early 2024 with the much-anticipated release of the Vision Pro mixed reality headset,” , head of investment research at Freedom Finance Europe. The Vision Pro headset, unveiled in June of this year, is Apple's first entirely new product in a decade, and market expectations suggest it could become a bestseller.” explained Maxim Manturov This, accompanied by the expectation that Apple will enter the race to in 2024 serves as a timely reminder that the tech giants are often seeking to bring the next big thing to market faster than other industry players. harness the power of generative AI Should Investors Buy Apple Stock? Apple’s short-term prospects rely heavily on the return of consumer spending power and their product innovations to sustain as a leading tech stock. With this in mind, the tech firm’s 2024 performance could be defined by how well-received the Vision Pro is among consumers. AAPL’s status Given that spatial computing is an industry that’s relatively new to consumers, the Vision Pro’s success is far from assured. But what we can be confident of is that Apple will continue to show long-term growth that falls in line with its impressive outperformance throughout the 21st Century. Historically speaking, Apple’s sales shortcomings only tend to serve as a temporary period of weakness. AAPL often presents itself as a stock that’s ripe for picking and holding over a long-term basis.

Does Apple’s Lacklustre Sales Performance Make its Stock Too Rotten for Investors?

অ্যাপলের অপ্রতুল বিক্রয় কর্মক্ষমতা কি তার স্টককে বিনিয়োগকারীদের জন্য খুব পচা করে তোলে?

Macht die schwache Verkaufsleistung von Apple die Aktie für Anleger zu faul?

¿El mediocre desempeño de ventas de Apple hace que sus acciones estén demasiado podridas para los inversores?

Les performances commerciales médiocres d’Apple rendent-elles leurs actions trop pourries pour les investisseurs ?

क्या Apple की कमज़ोर बिक्री प्रदर्शन के कारण उसका स्टॉक निवेशकों के लिए ख़राब हो गया है?

Appleのさえない販売実績は、投資家にとってAppleの株価を腐らせすぎているのだろうか?

애플의 부진한 판매 실적이 투자자들에게 애플의 주식을 너무 썩게 만드는가?

O fraco desempenho de vendas da Apple torna suas ações podres demais para os investidores?

Делают ли низкие показатели продаж Apple ее акции слишком плохими для инвесторов?

Apple'ın Zayıf Satış Performansı Hisse Senetlerini Yatırımcılar İçin Fazla Çürük mü Hale Getiriyor?

Hiệu suất bán hàng kém cỏi của Apple có khiến cổ phiếu của hãng trở nên quá hấp dẫn đối với các nhà đầu tư không?

苹果销售业绩不佳是否导致其股票对投资者来说太糟糕了？

The New York Times Company v. Microsoft Corporation Court Filing December 27, 2023 is part of . You can jump to any part in this filing . This is part 2 of 27. HackerNoon’s Legal PDF Series here II. JURISDICTION AND VENUE 10. The Court has subject matter jurisdiction under 28 U.S.C. §§ 1331 and 1338(a) because this action arises under the Copyright Act of 1976, 17 U.S.C. § 101, et seq. 11. Jurisdiction over Microsoft and OpenAI is proper because they have purposely availed themselves of the privilege of conducting business in New York. A substantial portion of Microsoft and OpenAI’s widespread infringement and other unlawful conduct alleged herein occurred in New York, including the distribution and sales of Microsoft and OpenAI’s Generative Pre-training Transformer (“GPT”)-based products like ChatGPT, ChatGPT Enterprise, Bing Chat, Azure OpenAI Service, Microsoft 365 Copilot, and related application programming interface (API) tools within New York to New York residents. Furthermore, both Microsoft and the OpenAI Defendants maintain offices and employ personnel in New York who, upon information and belief, were involved in the creation, maintenance, or monetization of Microsoft and OpenAI’s widespread infringement and other unlawful conduct alleged herein. 12. Because The Times’s principal place of business and headquarters is in this District, the injuries alleged herein from Microsoft and OpenAI’s widespread infringement and other unlawful conduct foreseeably occurred in this District. 13. Venue is proper under 28 U.S.C. § 1400(a) because Defendants or their agents reside or may be found in this District, through the infringing and unlawful activities—as well as Defendants’ sales and monetization of such activity—that occurred in this District. Venue is also proper under 28 U.S.C. § 1391(b)(2) because a substantial part of the events giving rise to The Times’s claims occurred in this District, including the marketing, sales, and licensing of Defendants’ GenAI products built on the infringement of The Times’s intellectual property within this District. Upon information and belief, OpenAI has sold subscriptions for ChatGPT Plus to New York residents, and both Microsoft and OpenAI enjoy a substantial base of monthly active users of Bing Chat and ChatGPT in New York. OpenAI has licensed its GPT models to New York residents and companies headquartered in New York. For example, this year, OpenAI struck deals to license its GPT models to the Associated Press (AP) and Morgan Stanley, both companies headquartered in New York. Continue Reading . Here About HackerNoon Legal PDF Series: We bring you the most important technical and insightful public domain court case filings. This court case 1:23-cv-11195 retrieved on December 29, 2023, from is part of the public domain. The court-created documents are works of the federal government, and under copyright law, are automatically placed in the public domain and may be shared without legal restriction. nycto-assets.nytimes.com

The Times v. Microsoft/OpenAI: Subject Matter Jurisdiction under 28 U.S.C. §§ 1331 and 1338a (2)

টাইমস বনাম মাইক্রোসফ্ট/ওপেনএআই: 28 ইউ.এস.সি এর অধীনে বিষয়বস্তুর এখতিয়ার §§ 1331 এবং 1338a (2)

The Times gegen Microsoft/OpenAI: Sachliche Zuständigkeit gemäß 28 U.S.C. §§ 1331 und 1338a Abs. 2

The Times contra Microsoft/OpenAI: Jurisdicción de la materia según 28 U.S.C. §§ 1331 y 1338a (2)

The Times c. Microsoft/OpenAI : compétence en la matière en vertu de 28 U.S.C. §§ 1331 et 1338a (2)

द टाइम्स बनाम माइक्रोसॉफ्ट/ओपनएआई: 28 यू.एस.सी. के तहत विषय क्षेत्राधिकार। §§ 1331 और 1338ए (2)

タイムズ対マイクロソフト/OpenAI: 28 U.S.C. に基づく主題管轄権§§ 1331 および 1338a (2)

The Times 대 Microsoft/OpenAI: 28 U.S.C.에 따른 주제 관할권 §§ 1331 및 1338a (2)

The Times v. Microsoft/OpenAI: Jurisdição do assunto sob 28 U.S.C. §§ 1331 e 1338a (2)

The Times против Microsoft/OpenAI: юрисдикция по предметам согласно 28 U.S.C. §§ 1331 и 1338a (2)

The Times - Microsoft/OpenAI: 28 U.S.C. kapsamında Konunun Yargı Yetkisi §§ 1331 ve 1338a (2)

The Times kiện Microsoft/OpenAI: Thẩm quyền xét xử các vấn đề chủ đề theo 28 U.S.C. §§ 1331 và 1338a (2)

《泰晤士报》诉 Microsoft/OpenAI：《美国法典》第 28 条下的主题管辖权第 1331 条和第 1338a 条 (2)

is a seasoned entrepreneur and fintech specialist and is here to shed light on the technicalities surrounding international bank transfers and their impact on businesses, especially SMEs. Iurii Gugnin With over a decade and a half of experience in the field, Gugnin is currently spearheading the growth of Evita, an American that is revolutionizing the way companies handle international transfers. startup In a short span of six months, Evita has achieved a remarkable turnover of $15 million per month, proving its profitability and effectiveness. The startup is instrumental in facilitating overseas purchases of real estate, automobiles, and equipment for foreign clients while also aiding American small and medium-sized businesses in importing goods from abroad at a fraction of the cost. Unlike traditional banking institutions such as Bank of America and Chase, which levy a 3-5% charge on transfers, Evita operates on a minimal commission of 0.4-1.5%. This approach not only fuels the growth of the US economy but also aids in re-establishing the country's dominance in . global exports Join us as Iurii Gugnin delves into the challenges faced by the U.S. in expanding its exports, the reasons behind the high costs of international wire transfers, and potential solutions to these issues. Q: With a wealth of experience in fintech since 2009, could you share some insights about your journey with international payments? A: My journey with international payments has been quite diverse, encompassing roles as an entrepreneur, consultant, and individual user. I've had the privilege of traveling to over 100 countries, living in several for extended periods, and consistently encountered a common issue: the incompatibility of bank cards when moving to a new location. For instance, a Thai card was unusable in the States, and a Dubai card was ineffective in the UK. Despite Visa and MasterCard's global presence, their usability is conditional. In my entrepreneurial journey, I've faced similar challenges. I established an international business, secured licenses in Europe and the CIS countries, and am currently in the process of obtaining licenses in America. One of my notable ventures is the Karma investment platform, which has successfully built a community of over 8,000 investors, attracted more than 500 business borrowers, and structured a $250m deal with a major bank. However, the process of making international transfers with currency exchange was often marred by high fees and lengthy waiting periods. In addition to this, I've advised five countries on digital asset legalization, engaging with central banks to discuss payment structuring and the integration of digital money to enhance transfer transparency. Drawing from these experiences, I founded Evita, a US-based company, in 2021. After a year of product-market fit exploration and several pivots, we found our niche in making international money transfers faster and cheaper, leading to rapid growth. Q: The Federal Reserve reports that the average cost of money transfers from the States to other countries is now about 5.6%, even higher than in 2022. Why are these fees so high? A: The high fees can be attributed to what I call the 'imperial syndrome' prevalent in the States. There's a common belief that dollars are universally accepted, negating the need for other currencies. Mainstream banks like Wells Fargo and Chase primarily operate in dollars in the United States, and the SWIFT system also predominantly uses USD. Growing up in Asia, I was accustomed to carrying different currencies and exchanging them with ease, a practice not common in the US. Despite my knowledge and net worth, it took me three months to open a EUR account in the US, and even then, there were significant usage restrictions. This is a challenge that many local entrepreneurs face. There is a niche segment of VIP banks, such as HSBC, Morgan Stanley, and JP Morgan, where corporations or wealthy individuals can open accounts in different currencies. These banks offer competitive exchange rates and reasonable transfer fees, but they are not designed for the mass market. In essence, there's an oligopoly of 3-4 leaders in the US banking sector who set their own prices. They've decided to charge 3-5% for international transfers, and most customers, unaware of how exchange rates are determined or where to find current information, have no choice but to comply. Q: In many Asian countries, the transfer fee is significantly lower than in the United States. For instance, in South Korea, it's only 3.55%. Can you shed some light on why this is the case? A: Asia, with its multitude of island nations, has a unique culture of multi-currency transactions. However, even a seemingly small fee of 3.5% can add up quickly. Consider purchasing a Mercedes-Benz G-Class abroad for 300,000 EUR. The commission alone would amount to a staggering 10,500 EUR. There are companies like Revolut or Wise that cater to smaller transactions, such as a $1,000 payment for freelance services. In these cases, an additional percentage doesn't seem as daunting. But in the B2B sector, the stakes are much higher. Transactions often involve tens or even hundreds of thousands for equipment, material supplies, and furniture. On our platform, we've even facilitated the purchase of a thoroughbred horse from Germany with an impressive pedigree. The price tag was 120,000 EUR! In such scenarios, even half a percent can make a significant difference. Q: The process of cross-border transfers often results in high costs and extended durations. Would you provide some insight into the underlying reasons for this? A: Certainly, let's consider a hypothetical scenario. Imagine two individuals who wish to open dollar accounts in a bank in Mongolia and another in Korea. The question arises, how can this be achieved? The challenge lies in the fact that to handle non-cash dollars, both banks require a license from the United States. Acquiring such a license is a daunting task for foreign financial institutions. As a workaround, these Mongolian and Korean banks would typically open correspondent accounts in U.S. banks, say Wells Fargo and Citi, respectively. Within these accounts, virtual folders are created for specific users. Now, let's assume a client from Mongolia wishes to send dollars to a friend in Korea via SWIFT. As I mentioned earlier, the currency is held in American banks. The initiating bank, Wells Fargo, would first verify the sender and recipient of the transfer. Following this, it would execute the transfer within the U.S., to Citi. The receiving bank, Citi, would then confirm that the Korean bank has an account with them and that the intended recipient is indeed a client of theirs. This process of verification and confirmation takes time, and during this period, transaction fees accumulate. Hence, the perceived delay and cost associated with cross-border transfers. Q: So, if I understand correctly, Mongolian and Korean banks might not directly interact with US dollars, but rather through an intermediary. Does this additional layer extend the transfer time? A: Yes, this is a common practice in many countries. A local bank might open an account with a Korean bank, which in turn has an account with a US bank. Consequently, the money passes through several "hands" of correspondent banks, each taking a slice of the transaction as commission. Moreover, when funds are sent through this complex chain, the transaction details can be extensive, often filling an entire page of text. This complexity significantly increases the likelihood of errors, which further extends the transfer time. But that's not all. Customers have come to expect SWIFT transfers to be a lengthy process. For instance, when money is sent from the US to Latin America, the CIS, or Asia, local banks might reflect the transfer in the customer's account a day or even a week after the funds have arrived. During this period, the banks essentially use the customer's money for free, earning interest on the deposits. Q: Would it be accurate to say the complexities associated with international transfers contribute significantly to the U.S. losing its leadership in global exports? A: I believe it's a crucial factor. The U.S.'s reliance on the dollar has had unintended consequences. In 2012, the U.S. was surpassed by China in terms of global exports, and by 2022, the Chinese yuan had become in transaction volume. one of the top five currencies While the dollar still leads, the use of the yuan from 2019 to 2022. nearly doubled Despite the slowdown in China's economy due to low birth rates, it continues to progress, driven by momentum. Furthermore, China frequently devalues its currency, which benefits the country as expenses are nullified while income remains in dollars. Consequently, Chinese goods remain competitive in the global market. In contrast, the U.S. faces high costs in various sectors, including real estate, transportation, internet, and food. These costs inflate the price of goods, making them less attractive overseas. Unique products like Boeing airplanes or Nvidia chips are exceptions. Additionally, businesses bear the burden of a 5%+ commission for payment transfers and interest rates on loans. Q: What solution does Evita offer? A: Fast and cheap international B2B transfers. We have a large community of exporters and importers who need to regularly transfer large sums to other countries. We also have our accounts in the States, in the UK, in the EU, and soon to be in China. This allows us to offset counter-flows of money. Q: Could you provide some insight into how the counterflow system operates? A: Imagine a scenario where one company needs to transfer $1 million from the US to Europe today, and another company needs to send the same amount from Europe to the US. In this abstract situation, we at Evita can accept the dollars into our American account and simultaneously transfer euros from our local European account and vice versa. This makes all transactions swift as they are conducted within the US and EU respectively. Moreover, we save on currency conversion because we don't convert the currencies. Our counterflow system is supported by a community of importers, exporters, logistics operators, and entrepreneurs from various countries. My extensive experience in fintech has been instrumental in bringing this community together. Large banks also have systems that allow for such internal clearing, which significantly increases the profitability of transactions. However, clients are often not informed about this and are charged hefty commissions for transfers. In reality, banks do not change the currency but simply adjust the figures on the accounts. At Evita, we choose not to keep all the profit for ourselves. Instead, we share a portion of it with our clients in the form of a discount. As a result, the user will pay a commission of only 0.4-1.5%, depending on the transaction volume, instead of the usual 5% or even 3%. Essentially, we democratize access to clearing, which is currently monopolized by banks, and save up to 90% of money on currency exchange. According to the , U.S. small businesses export goods and services worth $341 billion annually. We estimate that products like Evita could save Americans between $7-16 billion a year. SBA Q: What happens if the counterflows don't align? A: In such cases, we resort to transferring money through digital wallets using stablecoins. We maintain legal and institutional accounts on regulated exchanges like Kraken. Cryptocurrency transfers offer a faster and more cost-effective alternative to traditional bank wires, taking just a minute instead of two days and costing 50 cents instead of $45. Q: Your primary focus is on small businesses, correct? A: Our focus is on small and medium-sized businesses. However, it's important to note that these businesses often engage in quite large transactions. While we don't cater to corporations on the scale of Apple, our clients are primarily involved in buying and selling cars. Currently, we're exploring the luxury furniture niche. Our services are also frequently used for payments related to equipment and charter flights, which can cost up to $200,000. Q: Is it accurate to say Evita also assists businesses in addressing their working capital issues? A: That's correct. It's a common scenario where a business has paid for a product and is simply waiting for its delivery. Many suppliers only ship products after receiving payment. If the transfer is made via SWIFT, the customer may have to wait an additional two weeks. During this period, the money is essentially "blocked" in the system. However, if the funds are transferred within a day, businesses can turn over their working capital more frequently, leading to increased earnings at the end of the year. This is often more significant than the profitability of a single transaction. We aim to shorten the cycle and increase the number of "turnovers.” Moreover, businesses can avoid taking out loans and paying high-interest rates. Currently, the interest rate on a small business loan . Not all businesses can secure these loans from banks due to stringent requirements, leading to the emergence of loan sharks who offer loans at annual rates of 100-200%. ranges from 6% to 45% By freeing up working capital, Evita could potentially save US exporters around $20 billion a year at the very least. Given that in the U.S., it's crucial to help them save money. small businesses are the backbone of job creation Q: Rounding off the interview, what do you think the future holds for the international payments market? A: The future of international payments, in my view, may present more challenges. Despite the technological capability for instant and affordable global transfers existing for over two decades, two major obstacles persist. Secondly, there is a global trend of increasing governmental control over business operations. European banks, for instance, annually on Anti-Money Laundering (AML) and related activities. These costs are inevitably passed on to consumers through service fees. spend an average of 14.25 million euros Collectively, Europeans per year on AML measures. However, these efforts only uncover less than 1% of actual criminal activity, while 99.99% of individuals and businesses bear the brunt of compliance requirements. spend 140 billion euros As regulatory measures continue to intensify, domestic and ecosystem-specific money transfers will become the norm. Consequently, services like ours that facilitate these transactions are poised to gain popularity.

Interview With Iurii Gugnin: Boosting U.S. Export Competitiveness With Cheaper Remittances

As if the underwhelming launch of 's " " processors wasn't bad enough, the Nasdaq-listed company now has to contend with competitors eating away at its market share. Intel next generation In a development that spelled bad news for the long-time maker of processors, a last week detailed attempts by to enter the personal computers market by designing its own CPUs based on ARM technology. Now, Nvidia is mostly known for its graphics cards, but this wouldn't be Team Green's first stint at designing processors: it's dabbled in producing integrated processors under the Tegra family — which also utilize ARM technology — to power things like the Nvidia Shield and even the ! media report Nvidia Nintendo Switch By designing new processors, Nvidia is looking to capture the Windows market. Currently, Intel predominantly supplies all the hardware that is used in Windows-powered laptops, but isn't cool with that. It wants to be able to diversify its supply, and it really badly wants processors with ARM technology. Why? Because they're great at powering things like laptops and tablet computers, but also, because has had great success in using ARM-based processors to power its Mac computers, giving them an edge over competitors due to their battery life and speedy performance. Microsoft Apple But that's not all. A note from Morgan Stanley earlier this year detailed how Apple's A-series and M-series chips were well-positioned to benefit from the rise of AI work loads being pushed to the edge. Basically, given Apple's efforts to optimize the integration of hardware, software, and services, the has been able to roll out more powerful and efficient chips each year. world's most valuable company Now, with Apple wanting to transition AI-intensive tasks onto the edge, these ARM-based processors, which power things like the iPhone but also the iPad and the Mac, are primed to help users generate content on-device more quickly, and Microsoft knows. Which is why, it is encouraging companies like Nvidia to develop hardware that could help Windows-based hardware compete with the likes of Mac. Nvidia's experience with producing graphic cards that are primed for AI workloads gives the company a bit of an edge, but Team Green isn't the only game in town. According to Reuters, too is looking at developing ARM-based CPUs. AMD AMD's shtick has always been to stick it up to the likes of Intel and Nvidia on things like pricing and performance. When Intel and Nvidia get with and get too comfortable with their market position, AMD's there to that it exists. too cocky their hardware remind them From our point of view, this trifecta of companies looking to compete against each other on things like CPUs, GPUs, and ARM-based technologies can be massively beneficial for consumers as it gives them more options and better prices. But, and more importantly, this looming competition could finally give these companies a reason to build bigger and better hardware instead of just new code onto silicon chips as if that would make them perform better than last gen hardware. lazy slapping The race for hardware that blows everyone's minds is on, and Intel is lagging behind. Will Team Blue bring its house into order? Will it experience a comeback or will it be forgotten? We'll be here to let you know. Intel ranked #50 on HackerNoon's this week. Nvidia was on the #66 spot. Tech Company Rankings 👋 You’re reading of HackerNoon's Tech Company News Brief, a weekly collection of tech goodness that combines HackerNoon's proprietary data with internet trends to determine which companies are rising and falling in the public consciousness. goes live tomorrow. Hate waiting? No problemo! Just subscribe to receive the newsletter part 1 Part 2 here complete a day early in your inbox. In Other News.. 📰 Resident Evil Village on the iPhone could be a preview of Apple’s gaming future — via . The Verge Google CEO Sundar Pichai to testify in US antitrust trial — via . Reuters Amazon’s Tye Brady discusses generative AI, humanoid robots and mobile manipulation — via . TechCrunch A look back at Elon Musk’s first year owning Twitter, in tweets — via . CNN Fidelity has marked down the value of Twitter/X by 65% — via . Axios Biden unveils U.S. government’s first-ever AI executive order — via . CNBC And that's a wrap! Don't forget to share this newsletter with your family and friends! See y'all next week. PEACE! ☮️ — Sheharyar Khan, Editor, Business Tech @ HackerNoon *All rankings are current as of Monday. To see how the rankings have changed, please visit HackerNoon's page. Tech Company Rankings

The Tech Company News Brief: It's a Bad Time to be Intel

টেক কোম্পানির সংবাদ সংক্ষিপ্ত: ইন্টেল হওয়ার জন্য এটি একটি খারাপ সময়

The Tech Company News Brief: Es ist eine schlechte Zeit, Intel zu sein

Resumen de noticias de The Tech Company: Es un mal momento para ser Intel

The Tech Company News Brief : C'est un mauvais moment pour être Intel

टेक कंपनी समाचार संक्षिप्त: इंटेल बनने के लिए यह एक बुरा समय है

テクノロジー企業ニュース概要: インテルになるには悪い時期です

기술 회사 뉴스 요약: Intel이 되기에는 나쁜 시기입니다.

Resumo de notícias da The Tech Company: É um mau momento para ser Intel

Краткий обзор новостей технологической компании: сейчас плохое время для Intel

Teknoloji Şirketi Haber Özeti: Intel Olmak İçin Kötü Bir Zaman

Tóm tắt tin tức của công ty công nghệ: Trở thành Intel là thời điểm tồi tệ

科技公司新闻简报：现在是英特尔的糟糕时代

Dive into how AI is transforming the investment landscape Remember the early days of robo-advisors? They were like the first smartphones—revolutionary but limited. Now, generative AI is stepping in, offering more nuanced and personalized financial services. For instance, Q.ai offers customers investment kits picked by an AI that considers various data points, from market metrics to social media sentiment. 📊 Performance Metrics While AI's promise is high, its performance is still under scrutiny. ETF Managers Group's AIEQ, which uses IBM's Watson, has returned 4.9% over the last five years, trailing the S&P 500 index fund's 11.78%. It's like a new athlete who shows promise but has yet to win significant titles. 🛠️ Guardrails and Accountability AI isn't given free rein. Companies like Q.ai and AIEQ (see examples below) have human oversight to monitor AI output for biases and errors. Think of it as a self-driving car with a human driver ready to take over in complex situations. 🌐 Accessibility and Inclusion AI is democratizing financial advice. Firms like Fisdom in India use automated tools to offer financial guidance to a broader base of customers. It's like opening up an exclusive club to the general public, making high-quality advice accessible to all. 🤖 The Future: AI in the Back Office Even if AI isn't directly advising clients, it's finding a place in back-office systems. For example, it summarizes meeting transcripts, monitors risky transactions, and generates reports. Examples of startups / smaller companies using AI for investment management: 🤖 Q.ai Location: Jersey City, N.J. About: Q.ai offers no-fee "investment kits" consisting of 4 to 20 securities in a market sector. These kits are selected by an AI that evaluates market metrics, news, Google search trends, and social media sentiment. 📊 ETF Managers Group’s AIEQ Location: Summit, N.J. About: AIEQ uses IBM’s Watson AI platform to analyze millions of data points from various sources like news, social media, and financial statements of over 6,000 U.S. companies. 🌐 Nemo Location: Abu Dhabi About: Nemo uses a ChatGPT model to allow investors to ask questions they might typically ask a human broker. The company emphasizes that they don't let their AI go "off-leash." 📈 Toggle AI Location: Not specified About: Toggle AI aims to implement ChatGPT that will be programmatically constrained to provide reality-grounded answers to investors' questions. 🌟 Fisdom Location: India About: Fisdom uses automated tools to provide financial guidance to a broader base of customers, including individuals with low net-worth. 💼 Betterment Location: New York About: Betterment, one of the first mass-market robo-investing firms, remains cautious about using AI for financial advice. However, they do use AI in their back-office systems for tasks like summarizing meeting transcripts and diagnosing software issues. Examples of incumbent banks using AI for investment management: JPMorgan Chase: This financial giant is leveraging AI to optimize asset management and offer personalized investment solutions. Morgan Stanley is using AI to enhance its asset management strategies. UBS: Known for its wealth management services, UBS is adopting AI to improve its investment strategies and customer engagement. HSBC: This global bank is using AI to bolster compliance and risk management functions and augment and automate data analysis in the investment sector. 🔮 Summary The integration of generative AI into investment management is a significant development, offering more personalized and nuanced services. Performance metrics are crucial for assessing the efficacy of AI-driven investment platforms, and they currently show a mixed picture. The human oversight in AI-driven systems is a necessary safeguard, ensuring that the technology does not go "off-leash." Whether it's automating data analysis, enhancing customer engagement, or optimizing asset management, AI is playing a pivotal role in shaping the future of investment management. Excerpt from One More Thing in AI Newsletter. Get smarter on AI in 5 mins. Carefully curated from hundreds of sources for business leaders and founders. ) Join 1000+ subscribers for free.

How AI is Transforming the Investment Landscape

Remember the early days of cloud adoption? Well, early adopters of cloud technology reaped the rewards of today’s cloud offerings of enhanced scalability, flexibility, heightened security, and reduced maintenance obligations. That placed them ahead of their competitors who, in many instances, still struggle with fragmented IT ecosystems rooted in outdated infrastructure. The recent emergence of enterprise blockchain marks the brink of another such technological shift, and enterprises across industries have already recognized its potential. Fintech and financial services have taken hold of blockchain hosting with trailblazers like Morgan Stanley, Goldman Sachs, and JP Morgan investing substantially in tailor-made solutions. However, it's crucial to differentiate between enterprise blockchain and the media-hyped world of cryptocurrency. focuses on the foundational technology, a database mechanism that establishes a secure, decentralized method for storing tamper-proof and immutable information. Enterprise blockchain Common scenarios where this technology is applied encompass securitization, payments and settlements, tokenization, and syndicated loans. That said, enterprise blockchain can be expensive with its bespoke hardware needs to reduce latency and the professional expertise needed to manage the cloud effectively. Adopting the Right Strategy There's no denying that blockchain holds the potential to revolutionize financial services, but the approach must be precise. Hosting and managing blockchain-based applications on-site is far from the optimal way to harness its prowess and capabilities since it poses significant challenges in terms of efficiency, reliability, and security. Instead, fintech firms exploring blockchain should direct their attention toward the private cloud. Private cloud hosting seamlessly aligns with this innovative technology and stands as one of the most effective ways to fully capitalize on blockchain's potential due to how easily companies can customize their needs in the private cloud versus other cloud solutions. A Perfect Pairing A basic understanding of blockchain functionality underscores why is the superior choice for this new tool. Fundamentally, blockchains are decentralized, distributed ledgers. This means that decision-making authority isn't vested in a central entity; rather, it's dispersed across a network of users known as nodes who contribute to the blockchain's development. By majority consensus, these users determine which new blocks can be appended to the chain and which cannot. More nodes translate to a safer blockchain, as a larger number of users cross-check each other's work to prevent erroneous code from infiltrating the chain. cloud hosting Furthermore, an increased number of nodes offers protection against network failures. Even if a node or group of nodes is compromised, many others sustain the network. In essence, broader accessibility fortifies blockchains. With participation from users across various regions, the network naturally attains enhanced security and resilience. Cloud hosting seamlessly facilitates this broad access, a critical factor ensuring the security and redundancy imperative for financial services and fintech enterprises. Improving efficiency also remains a key focus within the financial services sector. Blockchain applications are intricate and can require substantial amounts of energy to operate, which inevitably escalates costs. Procuring and managing on-site servers to support a blockchain network is not only time-consuming and inefficient but also exorbitant. Collaborating with a dependable cloud provider, with a globally dispersed cloud infrastructure, constitutes the most streamlined and cost-effective means of managing blockchain applications, and a robust network is pivotal in safeguarding the security and redundancy aspects. An expansive network also mitigates lag and downtime while preserving continuity – all of which hold paramount importance in this sector. Additionally, a distributed cloud network provides scalability that on-site hosting can't match, furnishing the necessary flexibility for expansion and growth. Tailoring Hosting Solutions Your choice of cloud solution hinges on the specific requirements of your application. A private cloud is more cost-effective for applications demanding extensive processing capabilities on a consistent basis (without sudden spikes). Conversely, when considering heavy usage for brief periods (bursts), a public cloud could be the superior choice. Choose a cloud hosting provider proficient in both options and possessing ample experience and expertise to guide you toward the optimal path for your needs. Cloud hosting specialists can provide a level of consultancy, management, and customer care unattainable with on-site alternatives. Accomplished providers assist in troubleshooting challenges related to your blockchain technology stack, while delivering ongoing maintenance and support essential for driving productivity. Blockchain technology harbors immense potential for financial services, with numerous early adopters already reaping its rewards. Nevertheless, blockchain remains a burgeoning technology, and a correct approach is essential. Embracing cloud infrastructure stands as the most efficient, secure, reliable, and cost-effective strategy for operating blockchain applications in this sector and beyond. Private cloud solutions yield advantages over on-site hosting and perfectly complement blockchain's decentralized approach. For forward-thinking enterprises contemplating blockchain, the decision to host their infrastructure in the cloud is imperative for unleashing the potential of this robust innovation. Resource requirements For fintech and financial institutions that utilize blockchain technology, resource requirements can be more predictable compared to some public blockchain networks like Bitcoin or Ethereum. This is because these institutions often use private or permissioned blockchains, which provide more control over the network and its resources. Here's why: Permissioned Networks Fintech and financial institutions often use permissioned blockchains, where access and participation are restricted to a specific group of known participants. This allows them to have more control over the network's resources and governance. Predefined Participants In a permissioned blockchain, the participants are known and vetted. This means that the network administrators have a good understanding of the number of nodes and the computational resources they bring to the network. Predictable Transaction Volume In many financial applications, the transaction volume can be forecasted based on historical data and business models. This enables institutions to plan for the necessary resources to process these transactions. Customized Consensus Mechanisms Fintech and financial institutions can choose or design consensus mechanisms that suit their specific requirements. For instance, they may use Practical Byzantine Fault Tolerance ( ) or other consensus mechanisms that are more deterministic and resource-efficient compared to Proof of Work. PBFT Private Smart Contracts Smart contracts on permissioned blockchains are typically not exposed to arbitrary execution by external parties. This allows for more control over the computational resources required for executing smart contracts. Regulatory Compliance Financial institutions often have strict regulatory requirements. They can design their blockchain solutions in a way that ensures compliance, which can include managing resource requirements in a predictable manner. While resource requirements can be more predictable in permissioned blockchains used by financial institutions, it's important to note that the specific details will still depend on the design choices made by the institution. Factors like transaction volume, the complexity of smart contracts, consensus mechanisms, and network participants will all play a role in determining resource needs. Additionally, even within a permissioned blockchain, there can still be bursts of activity based on specific events or operational needs. Blockchain technology presents new opportunities for financial services, with early adopters reaping rewards. However, the correct approach to harnessing its power is pivotal. Embracing cloud infrastructure emerges as the most efficient, secure, reliable, and cost-effective strategy, particularly when integrated with permissioned blockchains. This strategy can allow enterprises to optimize blockchain's transformative potential. For forward-thinking enterprises contemplating blockchain adoption, the imperative decision is clear: host their infrastructure in the cloud to unleash the full potential of this robust innovation.

Unlocking Blockchain's Potential: Why Cloud Hosting is a Key Strategy for Financial Services

Our ever-evolving digital landscape and the technologies that support it have enabled us to take care of everything from banking and shopping to socializing online. Yet our increased reliance on digital services has also led to growing concerns about security and privacy and the access that third parties have to our data. The emergence of represents a promising evolution in the eyes of many experts. Web 3.0 That’s because Web 3.0 technologies use a decentralized framework that puts control back into the hands of users and allows them to interact online without sacrificing privacy. The increasing prominence of , decentralized finance, and non-fungible tokens (NFTs) further emphasizes the demand for a new way of safeguarding our digital interactions. blockchain-driven applications A new breed of tech visionaries has been instrumental in driving this change and helping to deliver Web 3.0 solutions to the masses. These leaders possess a profound understanding of the complexities of cybersecurity and the limitless possibilities of Web 3.0 to embrace the potential of decentralized networks while acknowledging the unique of 2023. security challenges Here, we celebrate 15 experts who are helping to shape the future of Web 3.0 and deliver powerful new cybersecurity solutions to create a digital infrastructure where decentralized technologies redefine the internet and safeguard its most valuable assets – our data and privacy. Jan Lunter, CEO & CTO of Innovatrics Jan Lunter graduated at the Télécom ParisTech University in France before becoming co-founder and CEO of Innovatrics, a company that has been developing and providing fingerprint recognition solutions since 2004. Lunter is an author of the algorithm for fingerprint analysis and recognition, which regularly ranks among the top in prestigious comparison tests (NIST PFT II, NIST Minex). In recent years he is also dealing with image processing and the use of neural networks for face recognition. , CEO and Cofounder of Lightning Labs Elizabeth Stark Elizabeth Stark is a strong advocate of open source and decentralized protocols, who brings her vast knowledge in peer-to-peer technology, privacy, open source software, and memes to her roles as a co-founder and CEO of Lightning Labs. Her company focuses on constructing a programmable financial layer for the Internet through fast and scalable blockchain transactions. With a law degree from Harvard and a background in teaching at Stanford and Yale, Stark remains a prominent figure in shaping the future of the internet and empowering startups in various fields, including AI and decentralized technology. Her dedication to Internet freedom was evident during the successful efforts to defeat SOPA/PIPA, engaging millions of people worldwide. , CEO of ManagedMethods Charlie Sander Charlie Sander is the CEO of Managed Methods, a Colorado-based data security and student safety platform for K-12 schools. With more than three decades of experience in the IT industry, Sander has been an executive at some of the fastest-growing companies in business. He holds 10 patents and graduated from the Cockrell School of Engineering at the University of Texas at Austin with a BSEE degree. , Founder & CEO of Custodia Bank Caitlin Long Caitlin Long is a Wall Street veteran deeply involved in Bitcoin and blockchain since 2012. With a remarkable career at major financial institutions, including Morgan Stanley and Credit Suisse, Long holds a law degree from Harvard, further solidifying her exceptional qualifications. Custodia Bank, a Wyoming-based institution, serves as a compliant bridge to the US dollar payments system while providing secure custodial services for digital assets at institutional standards. As a fully compliant entity, Custodia adheres to the Bank Secrecy Act and federal regulations, including “know your customer,” anti-money laundering, and related laws. Additionally, the bank follows Wyoming’s special purpose depository institution and digital asset laws, ensuring 100% reserved fiat deposits and offering the highest level of consumer protection in the digital asset industry. Founder & CEO, BreachQuest Shaun Gordon, Gordon founded BreachQuest, a cybersecurity company focused on minimizing breach costs and downtime. He is also the founder and Managing Partner of AGI Partners, an investment firm dedicated to growing exceptional mid-sized companies. His achievements include successfully leading the sale of Pristine Environments and contributing to educational initiatives. Gordon’s expertise spans business services, cybersecurity, SaaS, real estate, financial services, and healthcare. Cathy Hackl, Chief Futurist & Founder, Journey Cathy Hackl, a prominent business executive and tech futurist, boasts an impressive background working with major companies like Amazon Web Services, Magic Leap, and HTC VIVE. In her leading role at Journey’s Virtual Studio, she advises companies and governments on gaming, AR, AI, spatial computing, and virtual world strategies. Hackl’s expertise has influenced brands such as Louis Vuitton, Nike, Walmart, and Clinique. She is a recognized Vogue Business 100 Innovator and Vogue Singapore’s Metaverse Editor. In 2023, Hackl launched VerseLuxe, her luxury tech label disrupting the fashion and luxury industries with connected jewelry called Frillz. Journey, the global design and innovation studio, empowers clients to create next-gen customer experiences that engage and elevate, spanning the creator economy, immersive destinations, and new generations of fans. , Founder & CEO, Eden Data Taylor Hersom Taylor Hersom has extensive experience advising Fortune 500 companies and serving as a Chief Information Security Officer (CISO). His expertise lies in building tailored security programs for decentralized and cloud-centric organizations. Eden Data is dedicated to integrating security and privacy into the core of next-generation businesses. The company disrupts traditional cybersecurity consulting by prioritizing relationships, cultivating leaders, and offering a fresh approach. They actively contribute as a security thought leader, serving on industry advisory boards and sharing insights through speaking engagements and online content. Eugenia Kuyda, Founder and CEO at Replika Eugenia Kuyda is a Russian-born entrepreneur and computer scientist based in the United States. She is renowned as the co-founder and CEO of Replika, a cutting-edge AI-powered chatbot app for human-like conversation simulation. With over 10 million users worldwide and a remarkable 35% usage increase since 2020, Replika has garnered widespread attention and acclaim for its unique approach to mental health support. Prior to Replika, Kuyda co-founded Luka, an AI-driven messaging app that recommended local venues. Kuyda’s groundbreaking work in the AI and mental health spheres has earned her numerous speaking engagements and media features. , Co-Founder, Sensei Node Ignacio Roizman Ignacio Roizman is a seasoned Digital Marketing Executive and Entrepreneur, boasting over 25 years of experience leading operations in Latin America and the US. With a strong track record, he has successfully overseen organizations providing a range of digital advertising services, including Creative, Digital Media Planning and Buying, and website development for renowned Fortune 500 brands. SenseiNode is the first blockchain infrastructure independent service provider in Latin America. They automate and simplify the deployment and monitoring of nodes on leading protocols, providing access via their APIs to organizations looking to build their blockchain infrastructure with a high availability and low total cost of ownership. Kelly Max, Founder & CEO, Solvv Kelly Max is a visionary founder with a deep commitment to creating impactful products and companies that make a difference in people’s lives. His passion lies in assembling exceptional teams and driving focused efforts toward achieving ambitious goals. Currently, his primary focus is on Solvv, the pioneering Social Podcasting platform. At Solvv Inc, They strive to develop a sustainable product that empowers individuals to progress in life, shape their identities, and cultivate their personal brands. Solvv invites others to join their journey of learning, creation, and growth. In their past ventures. , Co-Founder and CEO at Everyrealm Janine Yorio Janine Yorio has established a metaverse innovation and investment platform. Everyrealm holds a significant position as one of the largest owners of digital real estate NFTs across metaverses like Decentraland, The Sandbox, and Axie Infinity. The company actively develops in-metaverse projects, including the Metajuku shopping center and the Fantasy Islands ultra-luxury master-planned community NFT project. Yorio’s previous achievements include being the CEO of Compound, a real estate fintech app acquired by Republic in 2020, and her work in private equity and real estate and hotel development. Jasmine Brunson, Founder, Rektify AI Jasmine Brunson is a dynamic founder and risk-taker who has ventured into data science, blockchain and technology. She sees data as her creative currency and actively contributes to the social entrepreneurial community, leveraging her passions to drive meaningful change. Brunson is a dedicated advocate for user data awareness, fighting against exploiting consumer data that fuels harmful algorithm biases and fosters misleading consumer identities. Her company, Rektify AI, is a Web3 Security & Risk Analytics company making cryptocurrency more secure and intelligent. , Founder and CEO of Crescite Eddie Cullen Eddie Cullen is the Founder and CEO of Crescite, which is building a Web 3.0 community for faith-based institutions and ESG investments. He was earlier the Director of Fordham University’s incubator program, and was a Candidate to be Mayor of NYC. He also served as a Fellow and Faith Advisor for the Biden for President campaign. Mike Starr, CEO and Founder of trackd Mike Starr is a cross-functional leader and former NSA engineer with experience building and launching products in new and disruptive markets. Mike received his Bachelor’s degree from SUNY Alfred and enjoys nerding out on wine and reading fantasy novels in his free time. His company trackd is delivering a modern patch management platform that collects patching experience data from patches applied using the platform, then anonymizes that data and shares it with all other users. The trackd platform unifies vulnerability and patch management and provides insight into how patches have affected systems previously, helping operators identify which patches might be disruptive when applied in their environment, and which are safe to designate for auto-patching. , Co-Founder of Cyber Security Capital Jane Frankland Jane Frankland brings two decades of cybersecurity expertise to Cyber Security Capital, holding senior executive roles and actively participating in esteemed cybersecurity organizations. Her mission is to promote women in security and create a safer, stronger, and more prosperous world for all. Cyber Security Capital operates globally, connecting people, opportunities, and resources within the cybersecurity ecosystem. Their London-based headquarters house a passionate and skilled team of cyber security entrepreneurs, consultants, facilitators, and resources. Cyber Security Capital emphasizes outstanding services and innovation to drive positive changes within the industry, achieving more together and making quantum leaps towards progress. This article was originally published by on Alexander García The Sociable.

15 Advanced Cybersecurity & Web 3.0 Executives

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