Is the TikTok Ban for Real?? Crypto Markets take a dip and why...
Generative AI is here to stay.
🚀Dear Valued Subscribers,
Welcome to another exciting week filled with compelling topics and investment insights. In this newsletter, we're delving into key areas that have been making waves in various markets. Here's a sneak peek into the topics we'll be exploring:
Is The TikTok Ban Banter For Real? Key Updates
Generative AI (genAI) Is Here To Stay: How To Prepare…
Crypto Market Takes A Dip… My Approach!
SEC Attempts To Classify ETH As A Security…
So folks, strap in as we have a lot to cover as we dive into the materials for this week's newsletter!
Is TikTok About To Get Banned In The U.S? Here’s What You Need To Know…
What’s Going On With TikTok?
On March 13th, the US House of Representatives passed a bill that would require ByteDance, a China-based parent company of TikTok, to sell their Media App to a US company. If ByteDance were to oppose this request, the Bill would seek to put in a national ban on TikTok’s usage in the United States. This has sent people on a frenzy, as 170 million Americans use TikTok for various reasons. Whether it's seeking out news, voicing their opinions, or building there brands, millions of Americans would be disrupted and displeased with this ban if it were to come to fruition.
The question then is “why” is the government trying to ban TikTok, or at the very least ensure that it is bought by a U.S based company?
The main criticism of TikTok is that it’s a spyware app disguised as a social media company that the Chinese government uses to collect important data on American users. While there is no concrete evidence of this being true, ByteDance is a company in China, therefore must comply with the Chinese government in any way they see fit. Additionally, the U.S government also believes that the algorithm may be used to spread misinformation to the 170 million American users of the app…
Of course though, ByteDance claims that TikTok is 100% independent from the Chinese Communist party - even though they likely wouldn’t say if the contrary was true…
While the Bill still has to go through the senate, the president's office, and the judicial system, these initial steps have scared many people. While TikTok won’t be banned for some time because of this process, it’s certainly something that we must continue to keep an eye on…
The Problem With Banning TikTok:
Aside from the entertainment aspect of the app, this has certainly become a platform of choice for Americans looking to voice their opinions. Many people that have offered their opinions on the ban, claim that a ban of TikTok would eliminate an important place for Americans to speak their mind, which as a result would hinder their first amendment rights. Additionally, many feel as if this ban would also disconnect themselves from the rest of the world.
As you can see, the ban would be a HIGHLY controversial event that could stir some chaos. But that’s not the only issue…
Another MAJOR consideration would be that of the 170 million citizens that use this app, many of them have built their brands and businesses mostly on TikTok. As a result, these types of people fear that their sole source of income will be taken away from them… and this is a very fair concern.
For now, everything is still up in the air. Remember back in 2020 when President Trump first tried banning TikTok - it never amounted to anything. Though there is great reason for concern just four years later for the same reasons, nothing is concrete yet. I will continue to provide updates as things become more concrete…
Major Strides In Generative A.I Are Expected To Persist…
What Is Generative A.I?
Simply put, Generative artificial intelligence is artificial intelligence capable of generating text, images or other data using generative models, often in response to prompts. You’ve all probably heard of OpenAI’s “ChatGPT” by now… this is an example of generative AI. While artificial intelligence may seem to have gone “mainstream” this year, this technology has barely scratched the surface compared to what its involvement in society is going to be.
While generative AI is mostly used by the masses in text form right now, the public will start using voice models such as Siri and Alexa, as Apple and Amazon are integrating generative AI into these services.
While this is one example of how Generative AI is going mainstream, lets take a look at some of the trends that are emerging…
The Future Of Generative AI…
Perhaps the biggest use-case for GenAI is how organizations are implementing this technology. It is reported that in the next two years, genAI will force organizations to address a myriad of fast-evolving issues. These issues range from data security, new services, and most importantly the replacement of employees that work jobs that genAI can handle itself…
Companies are starting to realize how much they can save by implementing this technology in certain aspects of the operations, but the harsh reality is that this is going to be something that removes the need for a lot of jobs…
What should people do then if they are potentially candidates for losing their jobs to genAI?
In my opinion, the first thing that people MUST do is accept that this technology is likely here to stay. By doing so, they can begin to understand how they can utilize and work with this emerging technology. Those who understand how to properly utilize genAI will be at a great advantage, and those who don’t will be prime candidates to be replaced.
To me, this is certainly something that everyone MUST consider when building their understanding of the future, and which direction things are trending in…
The Crypto Market Takes A Dip: Here’s What You Need To Know
At the time of writing this, Bitcoin has dropped over $10,000 from its highs made last week. While this doesn’t come as a complete shock to me, you’d be surprised at how many people have contacted me in a full on panic.
It’s always crazy to me just how quickly sentiment can shift. Last week everyone was asking me if it was too late to buy, and now everyone seems to be asking me if they should be selling. My answer to everyone is R-E-L-A-X!
The first thing any investor getting into Bitcoin MUST understand is that it's a volatile asset. In the past couple of months, Bitcoin climbed from $38,000 to $73,000 with hardly any turbulence. While most people expect it to keep skyrocketing, we must understand that the quicker it goes up, the more choppy it's going to get in the short-term.
And that’s exactly where we find ourselves in the current moment with Bitcoin. Thus far, it has corrected 14%, and I wouldn’t be surprised if that figure ended up being closer to 20% when its all said and done. Corrections are healthy in a bull-market, and we MUST use them as opportunities to build our positions…
My Stance:
While DCAing into Bitcoin is still a great play in my opinion, that’s not where I’m at right now. The reason for this is solely because I’ve been in my Bitcoin position from much lower levels. This, however, doesn’t mean that I haven’t been playing this dip though…
The primary thing I’ve been doing during this Bitcoin correction has been buying up altcoins. When Bitcoin dips, altcoins tend to correct even harder, and that’s exactly what we’ve been seeing the last couple of days. This has created perfect DCA entries into some of my favorite altcoins that I’ve been patiently waiting to purchase, or even add to my positions if I already held them.
If I were you, I would highly consider allocating funds into altcoins when there are dips moving forward. While Bitcoin certainly is the king of all cryptos, many of these altcoins will yield bigger gains in this cycle, solely because they are much smaller in market cap.
I will continue to monitor the crypto space and provide timely updates to you all, just as I’ve done each week with this newsletter!
SEC Attempts To Classify Ethereum As A Security… Here’s What You Need To Know
The SEC has struck again in their “war” against crypto, this time picking a battle with Ethereum…
While the highest profile case the SEC has against a crypto related company is against Ripple (XRP), this time they have their sights set on Ethereum. On March 20th, an investigation by the SEC into the ETH Foundation could give them regulatory coverage to define Ethereum as a security.
It has also been reported that several U.S based companies have been handed subpoenas from the SEC, which are requesting records of any business between the firms and the Ethereum foundation.
This story is only just developing, so there aren’t a ton of official details as of yet. Gary Gensler, who is the SEC Chair, has refused to answer any questions related to this matter, so we’ll have to buckle in and wait until he offers his official response.
The main question is will this have any effect on the approval process of an ETH-ETF that many expect to launch in May… We’ll continue to monitor exactly this so that we can remain ahead of the curve!