Together with

GM. Tech layoffs are all the talk and it doesn’t matter. Tech will be better for it. Now, this ain't just ranting and raving. This ain't just blowing off steam. I got a little evidence to support my claim.

Without Further Ado. ☕ *knuckle cracks* ☕ Let’s get into it.

Today’s Specials:

Weekend Alpha - What to Watch 👀 : Bitcoin slides back to $40K 🧸

No FOMO News 📰 : Coinbase vs SEC 🧑‍⚖️

No FOMO 🗿 : The Tech Layoffs Aren’t that Scary 🤷‍♂️

AI Intel 🤖 : Samsung Bets Big on AI in Phones 📱

AI App of the Week 💻 : Screen Time Mindfulness 🧘

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Weekend Alpha – What to Watch 👀

Bitcoin slides back to $40,000 as post-ETF correction deepens, XRP price falls near critical support level as Bitcoin and crypto market correct, dYdX Tops Uniswap as Largest DEX by Volume.

No FOMO News 📰

• Federal judge grills Coinbase, SEC on whether digital assets are securities (CNBC)

• Hong Kong Firm Targets Spot Bitcoin ETF Launch in First Quarter (Bloomberg)

• China onboards Tencent, Huawei, Ant Group for metaverse working group (Crypto.news)

• SEC postpones decision on Fidelity’s spot Ethereum ETF (Crypto.news)

• Supreme Court ‘Chevron’ Case to Shape Crypto, Climate Rules (Bloomberg)

The Tech Layoffs Don’t Bother Me

These jobs hardly existed in the first place. Let me explain.

In 2010, Microsoft had about 90,000 employees. Google had 24,000. Today, even after the layoffs, Microsoft is well over 200,000, and Google boasts more than 150,000 worker bees.

In 2019, Google had around 119,000 employees. By 2023, they were up to nearly 180K, then cut off 12,000 heads.

Seeing a trend?

The recent tech layoffs aren’t a story of automation. The layoffs tell a deeper tale about an overhired, spoiled workforce that became accustomed to high pay, little oversight, and short hours.

Over the last ten years, tech has created millions of jobs. They could cut their force by 20%. And there would still be a massive net positive in the job market from these companies.

These niche big tech jobs simply didn’t exist 20 or 30 years ago.

So, from a market perspective, we aren’t bothered by the layoffs. Expect more jobs to disappear. Because frankly, they weren’t intended to exist for very long to begin with.

The Googles of the world have been planning for mass automation from the beginning.

So you got laid off. But maybe you were going to leave in a year or less anyways? Or you’re worried about your job security. What’s the future of work in tech?

Advisory work. Sales. Machine Learning experts. Creative input. Prompt engineering. Cybersecurity. UX/UI design consulting.

AI Intel 🤖

• Samsung’s Galaxy S24 lineup goes all in on AI (CNN)

• Mark Zuckerberg indicates Meta is spending billions of dollars on Nvidia AI chips (CNBC)

• DeepMind’s latest AI can solve geometry problems (TechCrunch)

• WHO releases AI ethics and governance guidance for large multi-modal models (WHO)

• "AI made us do it" is Big Tech's new layoff rationale (Axios)

AI App of the Week 💻

AI gets a lot of hype. But how does that help me?

This section is dedicated to No Fomo’s favorite AI tools. We’ll try to fish for things that make your life easier. Or we’ll give honest, informative reviews of apps that are getting a lot of attention.

This Week’s App De Jour: Breathhh

Breathhh tracks your browsing history over time, looking at how long you are on certain pages and analyzes your productivity. It will then suggest a practice or exercise like breathing or documenting your mood at a timely moment based on how long you've been on a website, and what kind of website it is.

It’s Personalizing AI assists you in finding the most appropriate time for a break, ensuring you maintain a healthy work-life balance. 

Breathhh is ad free for now, and can definitely help you be more efficient with your screen time. 

Referral Contest - Win a Free NFT!

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How it works:

One referral = one ticket to win our monthly NFT giveaway.

At the end of the month, we’ll do a raffle and one of our readers will be given a free NFT. The more friends you refer, the better chance you’ll have to win.

If you don’t win, we’ll roll your referral points over from the previous month so your efforts never go to waste.

No catch, no nonsense. Just refer, and win!

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DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell assets or make financial decisions. Please be careful and do your own research.