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Time Is Money

Nov 3, 2024 • 5 min read

Trending:

North Korea Missile Test
MicroStrategy Bitcoin Investment

Week Recap:

Volkswagen plans to close three of its German plants, including the Osnabrück facility, as it faces low demand for electric vehicles (EVs) in Europe, high production costs, and growing competition. With around 300,000 employees across ten German plants, these closures represent Volkswagen’s first domestic plant shutdowns and will lead to significant layoffs.
On October 24, 2024, Landmark Admin, a Texas-based company specializing in administrative services for insurance providers, disclosed a major data breach impacting over 800,000 individuals. The breach initially came to light on May 13, when Landmark detected unusual activity and attempted to secure its systems. However, attackers were able to regain access in June, allowing them to extract sensitive personal information.
Waymo recently raised $5.6 billion in its largest-ever funding round aimed at expanding its autonomous ride service across more U.S. cities. The round was highly oversubscribed, meaning demand from investors outpaced available shares. Major backers included Alphabet (Google), Waymo’s parent company, along with Andreessen Horowitz, Fidelity, and Tiger Global.
New federal rules require U.S. airlines to automatically issue cash refunds to passengers if flights are canceled or significantly delayed. A significant delay is defined as at least three hours for domestic flights and six hours for international ones, ensuring a clear standard across all airlines. Under this rule, passengers no longer need to request refunds or settle for travel credits; the refund process is now automatic when the delay or cancellation occurs.
On October 28, 2024, U.S. Central Command (CENTCOM) launched a series of airstrikes targeting ISIS camps in Syria’s central desert. These strikes eliminated up to 35 ISIS operatives, including several senior leaders, with no reported civilian casualties. The primary goal of this mission was to weaken ISIS’s ability to plan and execute attacks against civilians and allied forces. CENTCOM emphasized that this operation, part of a larger coordinated effort with regional allies, seeks to degrade ISIS’s operational capacity and ensure its enduring defeat.
Apple introduced an updated version of the Mac mini, its small desktop computer, starting at $599. Unlike Apple’s other computers, the Mac mini is a compact box (measuring about 5 inches) designed to connect with any monitor, keyboard, and mouse. The new Mac mini is available with two different chips, the M4 and M4 Pro, which offer significant upgrades from the previous model’s M2 chip.
TSMC (Taiwan Semiconductor Manufacturing Company) is advancing its U.S. expansion with a significant semiconductor production facility in Phoenix, Arizona, aimed at strengthening local chip manufacturing. Initially planned to produce 5nm chips, the plant has been upgraded to produce 4nm chips, largely to meet the high standards set by major clients like Apple, which is expected to source chips from this facility for its devices. Production is scheduled to start in 2025, with plans to support the U.S. tech supply chain as global demand for advanced chips grows.
On October 30, 2024, SpaceX successfully launched its 200th dedicated Starlink mission, deploying 20 additional Starlink internet satellites into low Earth orbit. The Falcon 9 rocket lifted off from Launch Complex 39A at NASA’s Kennedy Space Center in Florida at 8:07 a.m. EDT, marking a major milestone in SpaceX’s ongoing effort to expand its global satellite internet constellation. This mission is part of SpaceX’s commitment to providing high-speed, low-latency internet access worldwide, particularly to underserved and remote areas, by building a vast network of interconnected satellites.
ChatGPT has recently gained enhanced web-browsing capabilities, allowing it to search the internet for timely and accurate information. Now, users can get up-to-the-minute answers directly within ChatGPT, along with links to relevant sources, eliminating the need to switch to a separate search engine. This new feature expands ChatGPT’s utility, blending the convenience of natural language processing with the speed and accuracy of web-sourced information.

North Korea Missile Test:

On October 31, 2024, North Korea test-launched its Hwasong-19 intercontinental ballistic missile (ICBM), setting new records for altitude and flight time, signaling advances in its long-range strike capabilities. North Korean leader Kim Jong Un observed the launch, presenting it as a show of the country’s defensive resolve against external threats. This test came after nearly a year without ICBM activity from North Korea, intensifying regional concerns about its growing missile technology.
In response, the United States, along with allies South Korea and Japan, conducted a trilateral aerial exercise on November 3, deploying a U.S. B-1B long-range bomber over the Korean Peninsula. This move was a deliberate show of strength aimed at showing the collective defense capabilities and readiness of the U.S. and its allies. The presence of the B-1B, a powerful bomber capable of carrying a 75k pound payload over long distances, demonstrated that the U.S. and its allies have the means to respond decisively if North Korea’s actions escalate.
By positioning strategic assets like the B-1B bomber in such exercises, the U.S. underscores that any hostile actions could be met with overwhelming force, serving as a check on North Korea’s missile and nuclear ambitions. This show of force highlights the U.S. commitment to regional stability and deterrence, signaling that advancements in North Korea’s missile capabilities will be closely monitored and countered as necessary. The ongoing displays of military readiness by the U.S. and its allies serve as a reminder that, despite North Korea’s technological gains, it faces a powerful alliance dedicated to preventing any destabilizing actions in the region.

MicroStrategy Bitcoin Investment

MicroStrategy, known for its extensive investments in Bitcoin, has announced a plan to raise up to $21 billion through new share sales to further expand its Bitcoin holdings. This proposed equity raise would surpass recent large capital raises by other major companies; for instance, Tesla raised $10 billion through two separate offerings in 2020. Currently, MicroStrategy holds around 252,220 bitcoins, acquired at a total cost of $9.91 billion and an average price of $39,292 per bitcoin.
The company intends to conduct this capital raise through an at-the-market (ATM) offering, which allows it to sell shares gradually at prevailing market prices. This approach provides MicroStrategy the flexibility to adjust sales timing and amounts in response to market conditions. If completed, the $21 billion target would exceed the combined total of the four largest equity raises globally, which stand at about $19 billion.
Filing for an ATM facility allows MicroStrategy to sell shares up to this amount over time, without a requirement to reach the full target, giving the company discretion in how much it ultimately raises. This capital-raising strategy aligns with MicroStrategy’s ongoing focus on Bitcoin accumulation. Expanding its Bitcoin holdings aims to increase the company’s exposure to cryptocurrency, positioning MicroStrategy among the largest corporate holders.

Statistic:

Countries when they achieved two $2 Trillion GDP:
1977: USA 🇺🇸
1986: Japan 🇯🇵
1992: Germany 🇩🇪
2004: France 🇫🇷, UK 🇬🇧
2005: China 🇨🇳
2007: Italy 🇮🇹
2010: Brazil 🇧🇷
2011: Russia 🇷🇺
2014: India 🇮🇳
2021: Canada 🇨🇦

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