Entrepreneur’s Flywheel

📖Today’s Agenda

• Stock Market Recap of the Week

• Top 3 AI Tools of the Week

• Weekly Entrepreneurial Tip

• Featured Article

📈 Stock Market Recap of the Week

Bitcoin Hits New Record Above $73,000

Bitcoin hit yet another new record high early Wednesday, briefly edging above $73,678. That put the cryptocurrency ahead nearly 74% for the year, after a strong of new highs that followed a U.K. financial regulator's opening the door to allow crypto-linked products for professional investors.

The strong of new highs is rooted in the industry's historic step forward on Jan. 11. That was the first trading day after the SEC approved 11 bitcoin ETF applications, which included issuers ARK Invest (ARKK), BlackRock (BLK), Grayscale, VanEck and more. Coinbase serves as the custodian for a majority of the new ETF issuers.

Other trends are also set to drive bitcoin in 2024, including the upcoming halving event in April and influx of institutional participation.

Proposed TikTok Ban: Potential Implications for Meta, Snap, Amazon, and Apple

The U.S. House of Representatives on Wednesday approved a bill targeting ByteDance, the Chinese parent company of TikTok, which would compel the firm to sell its ownership of the popular short-video app or face a nationwide ban in the United States.

This move signifies a significant escalation in tensions between lawmakers and TikTok, which boasts over 170 million American users. The bill, endorsed by a decisive 352 to 65 vote in the House, aims to address concerns over national security risks posed by TikTok's ties to China, particularly regarding the potential exploitation of user data and the app's algorithmic influence on public opinion.

Supporters of the bill argue that TikTok's Chinese ownership poses an unacceptable risk to American national security, fearing the potential misuse of user data and algorithmic manipulation. Despite TikTok's assertions of independence from the Chinese government and its data storage arrangements with Oracle, lawmakers remain adamant about the need to address these security concerns. TikTok, on its part, has emphasized its status as a privately owned entity with global investors and has underscored its data storage practices as compliant with U.S. regulations.

The bill's fate now rests with the Senate, where its prospects remain uncertain. While President Joe Biden has signaled his willingness to sign the bill if approved by Congress, former President Donald Trump has voiced opposition, citing both positive and negative aspects of TikTok. Legal challenges could await the bill's implementation, reminiscent of previous attempts to ban TikTok through executive orders, which were overturned by federal courts. Amidst these developments, tech stocks like Meta, Snap, Alphabet, Amazon, and Apple have shown varied responses, suggesting cautious investor sentiment as the legislative process unfolds.

Eli Lilly Partners with Amazon’s Pharmacy for Medication Delivery, Including Weight-Loss Drug Zepbound

Eli Lilly (LLY) said Wednesday it tapped Amazon.com’s (AMZN) pharmacy division to deliver some of its prescription meds, including its weight-loss drug and migraine treatment.

Amazon delivery will be available through LillyDirect. Eli Lilly launched the website in January to help patients obtain their migraine, diabetes and obesity treatments directly from the company using the online pharmacy, Truepill. Now, medications will be delivered by either Amazon Pharmacy or Truepill.

The new Lilly effort comes as drugmakers face sky-high demand for weight-loss drugs. Both Zepbound and Novo Nordisk’s (NVO) rival medicine, Wegovy, are on the Food and Drug Administration‘s shortage list. Further, drugmakers are also battling knockoffs from compounding pharmacies.

Eli Lilly Chief Executive David Ricks said in February that patients are driving to “five, six, seven pharmacies to find the medicine they need.” LillyDirect “simplifies that process.” He also noted the trouble with illicit copies of Zepbound.

“So, by going to LillyDirect, literally, they have confidence in the supply,” he said during the company’s fourth-quarter earnings conference call with analysts. “And finally, application of our savings programs has also been a challenge at the pharmacy counter, and that happens 100% of the time on LillyDirect.”

Eli Lilly stock didn’t move much on the announcement, however. Shares traded sideways, last up a fraction at 755.63 on the stock market. Amazon stock rose a fraction to 176.90.

🤖 Top 3 AI Tools of the Week

1. AUDITMAP

DATA TO DATA

AUDITMAP is an advanced AI platform tailored for risk analysis and data visualization in auditing. It revolutionizes audit procedures by leveraging cutting-edge artificial intelligence to swiftly review documents, identifying risks and trends across organizations with unparalleled efficiency. Its key features include automated data analysis, meticulously scrutinizing uploaded documents, and data visualization tools for enhanced decision-making. In the finance sector, AUDITMAP simplifies risk management and aids in trend prediction, enabling businesses to optimize audits, mitigate risks, and stay ahead of the curve.

2. Anadot

DATA TO DATA

Anodot is an AI tool designed for proactive incident management through exceptional data analysis and visualization. Leveraging patented technology, it anticipates and addresses potential incidents before they occur, ensuring seamless operations. With distinctive features like deep data analysis, efficacious visualization, proactive incident detection, and automated action initiatives, Anodot is invaluable for industries like Finance and E-commerce.

3. Xembly

TEXT TO TEXT / DATA TO TEXT

Xembly is an AI executive assistant tool aimed at enhancing team productivity through efficient task scheduling and data analysis. With advanced AI capabilities, Xembly automates meeting scheduling, conflict resolution, and agenda creation, saving significant time for employees. Its features include text analysis, summarization, creation, data visualization, analysis, speech-to-text transformation, and video analysis. Xembly finds applications in project management and productivity enhancement, aiding project managers in organizing tasks and making informed decisions based on analyzed data

💸 Weekly Entrepreneurial Tip

Einstein once said: “The important thing is to keep the important thing the important thing.”

20% of clients drive 80% of your revenue. 20% of habits lead to 80% of your health.

You should ruthlessly focus on the vital 20% that moves the needle.

Be intentional about where and how you use that 20%. Identify which tasks bring you life or drain it.

This is called the Pareto Principle

Applying the Pareto Principle, tasks are categorized into:

• urgent/important (Do it now)

• not urgent/important (Schedule it)

• urgent/not important (Delegate or Automate it)

• not urgent/not important (Delete it)

You should also understand that Time Blocking is your strategic ally.

Avoid distraction at all costs.

4 hours of deep-focus work is better than 9 hours of semi-focused work.

✨ Featured Article

Bitcoin Halving 2024 – How to Profit From It

What is Bitcoin Halving?

Bitcoin halving is an event that occurs approximately every four years in the world of cryptocurrency. It is a process built into the Bitcoin protocol that reduces the rate at which new Bitcoins are created. This event is often eagerly anticipated by Bitcoin enthusiasts and investors due to its potential impact on the price of Bitcoin.

How does Bitcoin halving work?

To understand how Bitcoin halving works, it is essential to comprehend the concept of Bitcoin mining. Bitcoin miners are responsible for verifying transactions on the Bitcoin network and adding them to the blockchain. In return for their efforts, miners are rewarded with newly minted Bitcoins.

When the Bitcoin network was created, the reward for mining a block was 50 Bitcoins. However, the Bitcoin protocol stipulates that this reward should be reduced by half approximately every four years. This reduction in block rewards is known as Bitcoin halving.

The most recent Bitcoin halving occurred in May 2020, reducing the block reward from 12.5 Bitcoins to 6.25 Bitcoins. The next halving is scheduled to take place in 2024, and the block reward will be further reduced to 3.125 Bitcoins.

Why is Bitcoin halving important?

Bitcoin halving is significant for several reasons. Firstly, it helps to control the supply of Bitcoin in the market. By reducing the rate at which new Bitcoins are created, halving ensures that Bitcoin remains a scarce asset. This scarcity is often cited as one of the key factors driving the value of Bitcoin.

Secondly, Bitcoin halving has historically had a significant impact on the price of Bitcoin. The reduction in block rewards reduces the supply of new Bitcoins entering the market, which, combined with increasing demand, can lead to a surge in the price of Bitcoin. This price appreciation has attracted the attention of investors and traders looking to profit from the halving event.