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Time Is Money

Nov 10, 2024 • 6 min read

Announcement:

For over two years, Time Is Money has kept you informed on trending topics, but now it’s time to go deeper and broaden our focus. Over the next 2-3 months, Time Is Money will transition into Earth Intelligence, where the newsletter will evolve into a free, daily Earth Brief.
This new format will cover a wider range of topics, connecting global events and offering a more complete view of how they shape our world. Alongside the newsletter, we’ll introduce new tools and resources, including interactive dashboards and in-depth insights, to provide an immersive understanding of our planet.

Trending:

On Friday, the U.S. Navy introduced its newest destroyer, the USS John Basilone, in New York. Named after Marine hero John Basilone, who earned the Medal of Honor for his bravery in World War II, this ship honors a man known for defending his fellow soldiers during intense combat.
The USS John Basilone is part of the powerful Arleigh Burke-class, known for handling both defense and offensive missions. Equipped with the Aegis Combat System, it can detect and target threats in the air, on the water, and underwater—all at the same time. With advanced radar and missiles, this ship can defend against attacks quickly and launch powerful strikes when needed.

Economics & Markets:

On November 6, 2024, the Indian rupee hit a record low, dropping to 84.28 against the U.S. dollar. This decline was mainly due to the U.S. dollar’s surge in value and higher bond yields following Donald Trump’s re-election. In response, the Reserve Bank of India stepped in to help stabilize the rupee by selling dollars. However, this drop reflects concerns over potential inflation in India due to expected economic policies in the U.S.
On November 8, 2024, the U.S. Department of Energy (DOE) completed the Biden administration’s Strategic Petroleum Reserve (SPR) replenishment with the purchase of 2.4 million barrels of oil. This brings the total volume acquired since 2022 to about 200 million barrels, offsetting the 180 million barrels sold that year.
The DOE purchased the oil at an average price of $74.75 per barrel, compared to the $95 per barrel it earned in 2022, creating a profit of over $2 billion, which has been used to help reduce the federal budget deficit. With the recent purchase, the DOE has fully spent its allocated SPR replenishment funds.

Geopolitics:

On November 7, 2024, Canada ordered TikTok to close its offices in the country, citing national security concerns linked to ByteDance, the app’s China-based parent company. This action, which will impact hundreds of jobs, comes after a security review initiated in 2023 and follows an earlier ban restricting TikTok’s use on government-issued devices. However, the app itself will remain accessible to Canadian users and businesses, allowing them to continue engaging with the platform.
This move mirrors actions taken by the U.S. and other countries, who share similar concerns that Chinese-owned technologies may pose security risks. In the U.S., government officials are also barred from using TikTok on work devices due to fears that data from the app could be accessed by foreign entities. The U.S. remains the global leader in both economic and military strength, but it views China as increasingly trying to assert influence through technology, both in consumer markets and military advancements.

Environmental:

Over the past week, extreme weather events worldwide have signaled shifting climate patterns. Denver, Colorado, saw its largest November snowfall in 30 years, with 19.2 inches accumulating at Denver International Airport, well above the city’s usual 7.4 inches for November. In Saudi Arabia’s desert region of Al-Jawf, snow blanketed the landscape for the first time following days of heavy rain and hail.
Eastern Spain faced intense flooding in the Valencia region, leaving over 200 dead and nearly 90 missing, with widespread damage. Oklahoma was hit by storms and tornadoes that injured at least 11 and caused power outages across the state. In the Philippines, Typhoon Trami brought heavy rain, worsening flooding and landslides.
An earthquake of 4.3 magnitude shook Surigao del Sur in the Philippines, compounding the strain on affected regions. In New Jersey, the “Halloween Wildfire” burned roughly 110 acres, forcing road closures but has been contained. These events—from snow and floods to fires, typhoons, and earthquakes—underscore the increasing frequency and intensity of natural disasters worldwide.

Space:

In the past week, notable space launches included Russia’s Roscosmos launching a Soyuz 2.1b/Fregat-M rocket on November 4 from the Vostochny Cosmodrome, carrying two Ionosfera-M satellites along with 53 small satellites, including two from Iran, for Earth observation and communications.
On November 5, Rocket Lab’s Electron rocket lifted off from New Zealand on the “Changes In Latitudes, Changes In Attitudes” mission, deploying multiple small satellites into orbit. Additionally, on November 8, China launched its Long March 2C rocket from the Jiuquan Satellite Launch Center, placing multiple satellites into orbit for various applications. These missions support advancements in communication, Earth observation, and space technology worldwide.
On Friday, SpaceX’s Falcon 9 completed its 402nd launch, deploying 20 new Starlink satellites into low-Earth orbit from Vandenberg Space Force Base, California. Thirteen of these satellites include Direct-to-Cell capabilities, enabling direct cellular communication from space. This Falcon 9 booster has been used 11 times in missions to low earth orbit (orbit level of image below), highlights SpaceX’s rocket reusability.
SpaceX now operates over 7,000 satellites (more than all companies & governments), with approval to deploy up to 12,000 and is seeking authorization for an additional 30,000 satellites. This expansion is creating the most advanced global communications network in history, with the ability to replace traditional cell towers and telecom companies, providing seamless, space-based internet and cellular coverage worldwide.
Live Starlink satellite feed (click image to view):

Technology:

On November 7, 2024, Palantir and Anthropic announced that Anthropic’s Claude 3 and 3.5 AI models will be integrated into Palantir’s platform on Amazon Web Services (AWS) to support U.S. intelligence and defense agencies. This integration aims to strengthen the system’s decision-making capabilities and potentially enhance interactive chat interfaces, giving agencies more advanced tools for analyzing complex information. By combining Claude’s AI with Palantir’s secure platform on AWS, the partnership promises to provide valuable support in high-stakes, data-driven environments.
Detroit will allow residents to pay city taxes and fees in cryptocurrency through PayPal starting mid-2025, an initiative led by Mayor Mike Duggan and City Treasurer Nikhil Patel. This move positions Detroit as the largest U.S. city to offer a crypto payment option, aimed at modernizing city services and increasing accessibility. The city is also encouraging blockchain entrepreneurs to propose new applications to enhance transparency, data security, and public services, aligning with Detroit’s vision of becoming a tech-friendly hub.

Statistic:

Top 50 earth assets by market capitalization:

Gold: $18.075T
🇺🇸NVIDIA: $3.621T
🇺🇸Apple: $3.430T
🇺🇸Microsoft: $3.141T
🇺🇸Alphabet (Google): $2.191T
🇺🇸Amazon: $2.189T
🇸🇦Saudi Aramco: $1.804T
Silver: $1.769T
Bitcoin: $1.509T
🇺🇸Meta Platforms (Facebook): $1.487T
🇹🇼TSMC: $1.043T
🇺🇸Tesla: $1.031T
🇺🇸Berkshire Hathaway: $998.22B
🇺🇸Broadcom: $857.70B
🇺🇸Eli Lilly: $789.39B
🇺🇸Walmart: $681.88B
🇺🇸JPMorgan Chase: $667.17B
🇺🇸Visa: $597.78B
🇺🇸UnitedHealth: $566.72B
SPDR S&P 500 ETF Trust: $549.00B
🇺🇸Exxon Mobil: $532.28B
🇺🇸Oracle: $524.42B
🇩🇰Novo Nordisk: $486.96B
🇨🇳Tencent: $486.96B
🇺🇸Mastercard: $481.64B
🇺🇸Costco: $418.17B
🇺🇸Home Depot: $403.17B
🇺🇸Procter & Gamble: $394.96B
🇺🇸Johnson & Johnson: $374.31B
Ethereum: $370.78B
🇺🇸AbbVie: $352.54B
🇺🇸Bank of America: $346.27B
🇺🇸Netflix: $339.84B
🇫🇷LVMH: $319.89B
🇺🇸Salesforce: $307.78B
🇨🇳ICBC: $284.82B
🇨🇳Kweichow Moutai: $281.75B
🇺🇸Chevron: $279.79B
🇩🇪SAP: $277.11B
🇺🇸Coca-Cola: $275.35B
🇺🇸T-Mobile US: $273.07B
🇰🇷Samsung: $271.29B
🇳🇱ASML: $263.23B
🇺🇸Merck: $260.35B
🇦🇪International Holding Company: $244.86B
Platinum: $244.57B
🇨🇭Roche: $241.76B
🇺🇸AMD: $240.09B
🇺🇸Wells Fargo: $233.19B
🇫🇷Hermès: $232.22B

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