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Time Is Money

Oct 27, 2024 • 5 min read

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Israel’s Military Strike Analysis
Stripe Acquires Bridge

Week Recap:

A California jury recently ordered Western Digital to pay $315.7 million after finding that the company had violated a patent owned by SPEX Technologies. The case revolved around data encryption technology used in several of Western Digital’s self-encrypting hard drives.
The FBI recently updated its 2022 crime data, revealing a 4.5% increase in violent crime, reversing its earlier report of a 2.1% decrease. This adjustment added thousands of previously unaccounted for violent incidents, including more cases of murder, rape, robbery, and assault.
Omni Family Health, a network of community health centers, recently disclosed a data breach that exposed the sensitive information of 468,344 individuals. Discovered on August 7, 2024, the breach involved unauthorized access to data, including names, addresses, Social Security numbers, birth dates, and medical details.
Mike Jeffries, the former CEO of Abercrombie & Fitch, was arrested alongside his partner, Matthew Smith, and associate Jim Jacobson as part of a sex trafficking investigation. The arrests were made by federal prosecutors, the FBI, and the New York Police Department, following an extensive investigation led by the U.S. Attorney’s office in Brooklyn.
Recently, an E. coli outbreak linked to McDonald’s has affected 49 individuals across 10 states, resulting in 10 hospitalizations and one death, with the majority of cases reported in Colorado and Nebraska. The Centers for Disease Control and Prevention (CDC) identified slivered onions used in Quarter Pounder burgers as the likely source of contamination.
Nidec Corporation, a Japanese manufacturer, experienced a ransomware attack where hackers stole over 50,000 files. The attackers gained access by using stolen login details, targeting Nidec’s Precision division in Vietnam, which makes optical, electronic, and mechanical equipment.
Anthropic has recently launched Claude Haiku 3.5, an updated version of their AI model designed to be both powerful and budget-friendly. This new model offers the same level of performance as the older Claude 3 Opus but at a lower cost, making it a great option for businesses that need effective AI without spending too much.
Iraqi forces, with support from U.S. CENTCOM and Coalition troops, carried out strikes and raids targeting ISIS in Central Iraq. The operation aimed to disrupt ISIS leadership and networks, resulting in the deaths of at least seven ISIS members, including senior leaders. Two U.S. soldiers assisting the mission were injured and are now in stable condition.
Saudi Arabia has partnered with BlackRock, the world’s largest asset management firm, to develop a market for mortgage-backed securities, aiming to make homeownership more affordable.
Israel launched a targeted military response against Iran, striking strategic military assets across the country, including in Tehran. The Israeli Defense Forces (IDF) stated these strikes were in response to Iran’s October 1 missile barrage of nearly 200 missiles aimed at Israeli locations.

Israel’s Military Strike Analysis:

Recent Israeli airstrikes targeted key Iranian military sites, resulting in different levels of damage across several facilities. Israel’s strikes focused on military locations in Tehran and airbases used by Iran’s elite military unit, the Islamic Revolutionary Guard Corps (IRGC). Early satellite images and local reports show that some locations were heavily damaged, while others, particularly around Isfahan, suffered less severe impacts.
Although Iranian officials claimed the damage was minor, Israeli sources argue that the strikes significantly disrupted Iran’s military operations and supply chains, pointing to damaged missile storage sites as evidence. The exact number of casualties remains unclear, as both countries are restricting detailed information on injuries. Israeli reports mention minor injuries from shrapnel in affected areas, while Iranian media has downplayed the extent of the damage, possibly to avoid public concern.
Explosions were also reported in civilian areas near military sites, complicating the overall assessment of damage. U.S. analysts believe that while the immediate human impact may be limited, the long-term effects on Iran’s military logistics and missile programs could be significant, given the strategic nature of the targets hit. This strike appeared to focus on weakening Iran’s operational capability. By targeting military infrastructure, supply chains, and missile storage sites, Israel aimed to disrupt the Irans ability to carry out or support future operations.

Stripe Acquires Bridge:

Stripe has just made its largest acquisition by buying Bridge, a company that helps businesses handle stablecoin payments, for $1.1 billion. Stablecoins are digital currencies tied to stable assets like the U.S. dollar, making them less volatile than other cryptocurrencies. Stripe is a company that helps businesses accept and manage online payments. It provides tools for handling payments, preventing fraud, and managing finances. Recently, Stripe has also started supporting payments in cryptocurrency.
Bridge is a platform that helps businesses make payments using stablecoins, a type of digital currency that’s designed to keep a steady value. Founded by Sean Yu and Zach Abrams, Bridge has become a popular choice for companies wanting to use stablecoins for secure and reliable transactions. Bridge, founded by Sean Yu and Zach Abrams, has grown quickly to become a major player in stablecoin payments for businesses. For its investors, this buyout is a huge win, as Bridge was last valued at $200 million during an earlier funding round.
This acquisition fits into Stripe’s recent moves to embrace cryptocurrency. Just this month, Stripe re-enabled crypto payments for businesses in the U.S., allowing them to accept USDC, a popular stablecoin, on multiple blockchain networks like Ethereum, Solana, and Polygon. This purchase also builds on Stripe’s partnership with Coinbase from June, where Stripe integrated Coinbase’s Base network and made itself a payment option within Coinbase Wallet, making crypto payments more accessible.

Statistic:

Largest assets by market capitalization:

Gold: $18.539T
🇺🇸 Apple: $3.521T
🇺🇸 NVIDIA: $3.471T
🇺🇸 Microsoft: $3.182T
🇺🇸 Alphabet (Google): $2.043T
🇺🇸 Amazon: $1.971T
Silver: $1.907T
🇸🇦 Saudi Aramco: $1.743T
🇺🇸 Meta Platforms: $1.439T
Bitcoin: $1.325T
🇹🇼 TSMC: $1.055T
🇺🇸 Berkshire Hathaway: $984.64B
🇺🇸 Tesla: $864.11B
🇺🇸 Broadcom: $818.19B
🇺🇸 Eli Lilly: $814.56B
🇺🇸 Walmart: $665.07B
🇺🇸 JPMorgan Chase: $625.86B
🇺🇸 Visa: $549.25B
🇺🇸 Exxon Mobil: $533.89B
SPDR S&P 500 ETF Trust: $531.43B
🇺🇸 UnitedHealth: $524.88B
🇩🇰 Novo Nordisk: $510.94B
🇨🇳 Tencent: $504.51B
🇺🇸 Oracle: $480.83B
🇺🇸 Mastercard: $471.57B

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