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Time Is Money

Jul 14, 2024 • 6 min read

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Trump Assassination Attempt
U.S. DOD Announcement

Week Recap:

After rejecting the Epic Games Store for iOS in the EU, Apple has now decided to approve the app. Earlier on Friday, Epic Games reported that their submission of the Epic Games Store for iOS had been denied twice by Apple. Epic claimed that these rejections were "arbitrary, obstructive, and in violation" of the EU's Digital Markets Act. Apple's initial rejection was due to the app not fully adhering to EU-specific guidelines, specifically citing a download button and related text that could mislead consumers into thinking these elements were created by Apple.
MIT researchers have developed a mind-controlled prosthetic leg aimed at restoring natural walking for amputees. The innovation involves the Agonist-Antagonist Myoneural Interface (AMI), a system that stitches together muscles in the residual limb to maintain the signaling between muscles and the brain. This muscle system is connected to a robotic leg, enhancing the responsiveness and control of the prosthetic.
Goldman Sachs Alternatives' private equity division is acquiring a majority stake in TAIT, the engineering firm known for designing the stage for Taylor Swift's Eras Tour. This acquisition involves Goldman Sachs Asset Management's alternative investment platform purchasing the stake from affiliates of Providence Equity Partners. Although the financial terms were not disclosed, Bloomberg News had earlier reported that TAIT was exploring a sale valued at approximately $1.3 billion.
Elon Musk's xAI and Oracle have ended discussions on expanding their server rental agreement due to disagreements over timelines and power supply concerns. Initially, the potential deal was estimated to be worth $10 billion, but the two companies could not come to terms. As a result, xAI is now building its own AI data center in Memphis, Tennessee, purchasing Nvidia chips from Dell and Supermicro for this project. Currently, xAI rents about 16,000 Nvidia chips from Oracle, and this arrangement will continue for now.
Researchers at UC San Francisco and UC Davis have identified a hormone, called Maternal Brain Hormone (CCN3), that could enhance bone strength and aid in healing fractures. This discovery, detailed in a study published on July 10 in Nature, reveals that CCN3 increases bone density and strength in mice. The hormone addresses a long-standing mystery of how breastfeeding women maintain robust bone health despite calcium depletion for milk production. The research highlights the hormone's potential beyond lactation.
Evolve Bank & Trust, a major U.S. banking-as-a-service provider, recently revealed that a cyberattack compromised the personal data of millions of customers. In a filing with Maine’s attorney general, the bank confirmed that at least 7.6 million individuals were affected, including over 20,000 in Maine. The full scope of the breach is still being investigated. The bank's statement indicated that attackers accessed names, Social Security numbers, bank account numbers, and contact information of personal banking customers, employees, and customers of its financial technology partners.

Trump Assassination Attempt:

Yesterday, during a campaign rally in Butler, Pennsylvania, former President Donald Trump was shot at, leading to injuries to his ear and resulting in the death of one spectator and critical injuries to two others. The shooting happened with the assailant firing from an elevated position outside the venue. U.S. Secret Service personnel quickly neutralized the shooter, who was later confirmed dead.
President Joe Biden, upon being briefed about the incident, expressed relief that Trump was safe and condemned the violence, emphasizing that such acts have no place in America. Trump extended his gratitude to the Secret Service and law enforcement for their swift response and offered condolences to the victims' families. He described the moment he realized he had been shot, noting the sound of the bullet and the immediate pain. The FBI is leading the investigation into the shooting, with high-profile political figures, including House and Senate leaders, condemning the attack.

U.S. DOD Announcement:

The U.S. Department of Defense has announced a new security package for Ukraine following the NATO summit in Washington. This latest package, the 61st presidential drawdown authority package, is valued at around $225 million and is designed to address Ukraine’s immediate defense needs. It includes a Patriot battery, munitions for rocket systems, artillery, and antitank weapons, as well as 155 mm and 105 mm artillery rounds, Javelin and AT-4 antiarmor systems, and small-arms ammunition. Since Russia’s invasion of Ukraine began in early 2022, the United States has provided over $53.7 billion in security assistance through various initiatives.
Deputy Pentagon Press Secretary Sabrina Singh also highlighted a recent conversation between Secretary of Defense Lloyd J. Austin III and Russian Defense Minister Andrey Belousov. The NATO summit, which celebrated the alliance's 75th anniversary, saw member nations reaffirm their commitment to supporting Ukraine. This support includes the establishment of a NATO security assistance and training command for Ukraine in Germany and a commitment to provide over $43 billion in funding within the next year. Additionally, several NATO countries pledged to supply air defense systems independently.
In addition to military support, the U.S. has been facilitating humanitarian aid to Gaza. In May, the Department of Defense deployed a floating, mobile pier to the Gaza shore to assist with the transfer of humanitarian supplies. To date, over 20 million pounds of aid have been delivered. Due to challenging sea conditions, the pier has been temporarily docked at the Port of Ashdod in Israel. Plans are in place to re-anchor the pier, although it is not intended to be a permanent solution. The U.S. is committed to sustaining and increasing aid flows to Gaza, using port facilities in Cyprus for inspections and deliveries directly to Gaza through Israel’s Ashdod Port and northern crossings.

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