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Time Is Money

Dec 3, 2023 • 7 min read

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Israel vs Hamas
DARPA Power Technology

Week Recap:

Realme, a Chinese smartphone manufacturer, recently announced it has surpassed the milestone of shipping 200 million phones since its inception over five years ago. This achievement places Realme as the fifth fastest company to reach this volume, with most of its shipments being outside China. Owned by BBK Electronics, which also owns Oppo and Vivo, Realme reached this mark in the second quarter.
Wealthsimple Inc., a Toronto-based fintech company, announced the launch of a new service providing retail investors with access to private equity. This new offering, named Wealthsimple Private Equity, is a collaboration with LGT Capital Partners, a wealth management group serving the Liechtenstein royal family.
The new FSD v12 update from Tesla marks a significant shift in how the vehicle's self-driving system operates. Previously, the vehicle controls for Tesla's self-driving features were hardcoded by engineers. With the FSD v12 update, Tesla is transitioning to having these vehicle controls managed by neural networks. Neural networks are a form of artificial intelligence that mimic the human brain's way of processing information.
In a significant study published in the JAMA Psychiatry journal, Swedish researchers have uncovered a correlation between the use of ADHD medications, such as Ritalin and Adderall, and an elevated risk of developing heart disease. The study methodically compared the incidence of heart conditions among individuals on these medications to those not using them.
AWS unveiled a new AI powered chatbot called Q, and two new processors: the Trainium2 AI chip and the Graviton4 general-purpose processor. Alongside these, AWS also announced that it will provide access to Nvidia's latest H200 AI GPUs. This move is part of Amazon Web Services' strategy to differentiate itself in the cloud market by offering a diverse range of cost-effective computing options. AWS is not limiting its offerings to just Amazon-branded products; it's also including premium products in its cloud services, similar to its approach in the online retail marketplace.
Charlie Munger, known as Warren Buffett's longtime business partner and vice chairman of Berkshire Hathaway, passed away at the age of 99.
France is taking significant steps towards establishing a "tobacco-free generation" by 2032. The French health minister recently unveiled a comprehensive plan to curb smoking in the country. Key aspects of this plan include prohibiting smoking in public areas such as beaches, parks, and forests, as well as in the vicinity of schools. Additionally, the government aims to phase out single-use disposable vapes.
Tesla's new CyberTruck has entered the pickup truck market with several distinctive features. Its trapezoidal shape and stainless-steel alloy exoskeleton set it apart from traditional pickup trucks. The vehicle's exterior design, along with features such as armor glass and bulletproof doors, positions it as a robust and unconventional choice in the automotive market.
A federal judge in Montana has put a stop to a state law that would have banned TikTok starting January 1, 2024. The law, signed by Governor Greg Gianforte, was intended to protect residents from potential surveillance by the Chinese Communist Party. However, Judge Donald Molloy ruled that the law seemed to target China's influence on TikTok rather than focusing on consumer protection.
ZeroedIn, a provider of workforce analytics services, is alerting around two million people about a data breach that occurred in August 2023. The breach was discovered on August 8, when the company realized that an unauthorized party had accessed certain systems between August 7 and 8. This led ZeroedIn to immediately start an investigation, which revealed that the intruders had accessed or stolen files containing personal information.
SpaceX launched several third-party competitor satellites into low-Earth orbit as part of its commercial launch service. This mission, named Korea 425, deployed a diverse array of 25 spacecraft from various companies and organizations. Among them were KOREA's 425, Space BD’s ISL48, SITAEL’s microHETSat, D-Orbit’s ION SCV Daring Diego, York Space Systems’ Bane, and PlanetIQ’s GNOMES-4. Additionally, SpaceX's role in the competitive satellite launch market is further solidified by a recent contract with Amazon for three Falcon 9 launches. These launches are crucial for the deployment of Amazon's Project Kuiper, a satellite broadband network designed to operate in low Earth orbit.

Israel vs Hamas:

This Friday saw a resumption of hostilities between Israel and Hamas, following the breakdown of a weeklong truce. This truce was primarily arranged for hostage/prisoner exchanges and humanitarian aid. However on Friday before the truce ended, Hamas fired rockets towards Israeli locations, leading to an intense exchange of fire. Moreover, Israel restarted its bombardment of Gaza, targeting over 400 locations, along with densely populated southern areas.
The United States has called on Israel to increase its efforts to protect Palestinian civilians amidst these operations. Israeli Prime Minister Benjamin Netanyahu has stated the necessity of continuing the military operation to achieve their goals, despite the significant civilian casualties incurred. One such strike in Deir al-Balah killed nine people, including three children, worsening the situation of the already crowded southern Gaza, which is home to about 2 million people.
The conflict has been further complicated by an incident involving Israel’s Iron Dome defense system misfiring and striking an area in Tel Aviv. With over 15,200 Palestinian and about 1,200 Israeli deaths reported since the beginning of the conflict, the collapse of the truce and the ongoing violence have dimmed hopes for a renewed ceasefire. International bodies, including the International Criminal Court, have voiced serious concerns over potential war crimes and the urgent need to protect civilians amidst the ongoing conflict.
Regarding the recent escalation and who initiated the renewed hostilities, there are various conflicting reports. Some sources claim that Hamas's firing before the truce officially ended was in retaliation for earlier Israeli air raids. On the other hand, there are reports suggesting that Hamas continued its rocket fire even during the ceasefire period in the West Bank. This situation illustrates the "fog of war," where different channels, outlets, and military announcements from all involved parties present contrasting narratives, making it challenging to discern a clear sequence of events.

DARPA Power Technology:

The U.S. military, particularly DARPA (Defense Advanced Research Projects Agency), is known for turning science fiction into reality, and their latest project continues this trend. They've developed a new laser-based technology, named the Persistent Optical Wireless Energy Relay, or POWER, which can transmit energy over thousands of miles.
This technology is a breakthrough in energy transmission, an area that has traditionally relied on outdated, wired systems. The POWER system is revolutionary in its ability to wirelessly beam energy from a ground source to a distant receiver. This development could dramatically change military operations, offering potentially unlimited range for aircraft and vehicles.
It could allow aircraft to stay airborne indefinitely without the need for complex and risky in-flight refueling, and give ground vehicles like tanks unprecedented operational range. However, the technology is still in its early stages. Currently, the biggest challenge is that the laser system requires a direct line of sight to its target, necessitating relay stations in the upper atmosphere to overcome atmospheric interference. Additionally, the receiving vehicles must maintain a stable position during charging.
DARPA is now working on integrating this technology into aircraft, with the goal of eventually transmitting 10 kilowatts of power over 125 miles. Beyond military applications, this technology could have significant civilian uses, such as space-based solar power systems delivering electricity directly to homes anywhere in the world. DARPA’s innovations continue to make significant impacts both in wartime and in peacetime.

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Largest defense contractors by market capitalization: