Today’s top stories:

1. Amazon is taking on all parts of the AI ecosystem

2. Bitcoin hits $100K for the first time

3. US expected 200K jobs created in Nov after Oct slump

4. ByteDance wants to launch its AI models to the world

5. SpaceX valuation at $350 billion

6. OpenAI plans to hit $100B in 2029, $11B in 2025

Market Pulse

🗓️ Economic Calendar

🔥 Top Stories

1. 🎭 Amazon takes center stage at re:Invent to challenge AI frenemies

⏳️ The deets in 30 seconds:

• Amazon challenges AI partners Anthropic and Nvidia at re:Invent

  • launches new foundational models (Nova) priced 3x lower than competitors

  • claims Trainium 2 chips better value than Nvidia's H100.

• Amazon investing $8B in Anthropic despite competitive stance.

• Apple exec makes surprise appearance to endorse AWS products.

• They’re building the whole ecosystem - compute, chips, models and partnerships.

💡 How it impacts you:

• More model choices could mean lower prices for consumers and enterprises.

• Potential cost savings on AWS cloud computing for enterprises.

• More competition in cloud services could provide better AI performance in everyday apps.

🔮 Industry prediction:

The AI chip war is turning into The Hunger Games - alliances form and break while everyone fights for computing power.

• Who's Moving: 
  🏃‍♀️ Leading: Nvidia (District 1)
  🚶‍♂️ Following: Amazon, Google, Microsoft (Career Tributes)
  ⌛ Waiting: Traditional chip makers (Outer Districts)

• What's Next: 

  Now: Strategic partnership reshuffling

  6 Months: Major price wars in AI chips

  1 Year: New chip architecture landscape

⚡ The bottom line: Amazon's AI strategy is like the Yankees building their own stadium - trying to control their destiny instead of paying rent forever.

2. Bitcoin breaks $100k milestone as Trump's crypto-friendly stance fuels 40% rally 🪙 

⏳️ The deets in 30 seconds:

• Bitcoin hits historic $103,853 today owing to Trump's victory.

  • Price surged 40% in four weeks post-election.

• Trump picks crypto-friendly Paul Atkins to lead SEC.

  • Gary Gensler to resign as SEC chair on Inauguration Day.

• Congress now has 298 pro-crypto legislators vs 134 anti-crypto.

• Investors poured $7B into spot bitcoin ETFs since Election Day.

• Total crypto market value exceeds $3 trillion.

💡 How it impacts you:

• More mainstream bitcoin payment options.

• Easier access to crypto through traditional brokers.

• Simplified crypto investment through ETFs.

🔮 Industry prediction:

Crypto is having its Moneyball moment - old-school finance is finally embracing what the stats nerds knew all along.

• Who's Moving: 
  🏃‍♀️ Leading: Traditional finance firms (jumping on the bandwagon)
  🚶‍♂️ Following: Government institutions
  ⌛ Waiting: Original crypto purists

• What's Next: 
  Now: Wall Street rush into crypto
  6 Months: Major regulatory overhaul
  1 Year: Crypto becomes standard portfolio asset

⚡ The bottom line: Bitcoin's journey from crypto rebel to $100k government darling is like cannabis going from Schedule I drug to state-approved business.

3. US jobs forecast: 200k new positions expected after October's weather-induced slump 🌪️

⏳️ The deets in 30 seconds:

• November job growth expected to hit 200,000, bouncing back from October's slowdown.

• October's job losses stemmed from Boeing strikes and hurricanes Helene and Milton.

• 29 states reported job losses in October; Florida, Washington saw biggest drops.

• Unemployment rate predicted to stay at 4.1%.

• Fed Chair Powell scheduled to discuss job market and inflation outlook.

💡 How it impacts you:

• Job seekers might find more opportunities as hiring rebounds from temporary disruptions.

• Workers in manufacturing should watch Boeing and GM's layoff announcements as signs of sector health.

• Job markets in the South and Northwest may see recovery from weather and strike impacts.

🔮 Industry prediction: Labor Market Cooling

The Shift:
Job market transitioning from post-pandemic boom to sustainable growth as temporary disruptions mask underlying slowdown.

• Key Players:
  🎯 Moving Markets: Federal Reserve
  ⚡ Making Moves: Large manufacturers (Boeing, GM)
  👥 Worth Watching: State-level employment trends

• Timeline:
  Q1 ‘25: Manufacturing sector adjustments continue
  Q2 ‘25: Labor market finds new equilibrium
  2H ‘25: Unemployment rate edges toward 4.5%

⚡ The Bottom Line: Job market pulling a weather-delayed flight move - temporary turbulence but still on course for a softer landing.

4. ByteDance eyes global AI race amid TikTok turbulence

⏳️ The deets in 30 seconds:

• ByteDance's Doubao chatbot hits 51.3M monthly users in China.

• Cici AI chatbot launched in Asia and Latin America using OpenAI's GPT.

• TikTok spends $20M monthly on OpenAI models through Microsoft.

• Seed (AI research & dev. department) faces technical hurdles with English language models.

• Internal concerns about AI expansion affecting TikTok's U.S. legal battles.

💡 How it impacts you:

• New AI chatbot options could emerge in your region.

• New privacy concerns about Chinese AI services, ex: data handling.

• Competition in AI tools could lead to better prices.

🔮 Industry prediction:

AI globalization is having its "Game of Thrones" moment - everyone's fighting for the throne while winter (regulation) is coming.

• Who's Moving: 

  🏃‍♀️ Leading: OpenAI (the Iron Bank)

  🚶‍♂️ Following: ByteDance (trying to cross the narrow sea)

  ⌛ Waiting: Regional tech companies (the minor houses)

• What's Next: 

  Now: Regional AI deployment testing

  6 Months: Major regulatory showdowns

  1 Year: AI market redistribution based on geopolitical alliances

⚡ The bottom line: ByteDance launching global AI during TikTok troubles is like Uber expanding into food delivery while fighting driver classification laws.

5. 🚀 SpaceX soars to $350 billion value in new share offer, jumping $95B in one month

⏳️ The deets in 30 seconds:

• SpaceX discusses selling insider shares at $350B valuation, up from $255B reported just last month.

• Previous tender offer valued company at $210B earlier this year.

• Would cement its position as world's most valuable private startup.

• Employees and early shareholders can sell shares in tender offer.

🔮 Industry prediction:

Private space race is entering its "Olympics" era - where every billionaire wants a gold medal but only a few can make it to the podium.

• Who's Moving: 
  🏃‍♀️ Leading: SpaceX (Michael Phelps of space)
  🚶‍♂️ Following: Blue Origin, Virgin Galactic
  ⌛ Waiting: Traditional aerospace companies
  

• What's Next: 

  Now: Valuations hitting escape velocity

  6 Months: Major consolidation in space tech industry

  1 Year: New space economy ecosystem emerges

⚡ The bottom line: SpaceX hitting $350B is like LeBron passing Kareem's scoring record - breaking barriers while critics say the game's changed.

6. OpenAI chases $100B revenue goal with enterprise push, hitting $4B in 2024

⏳️ The deets in 30 seconds:

• OpenAI on track for $4B revenue in 2024, aims for $11 next year and $100B revenue by 2029.

• Sales team grown to 300 people from 200 in June, 1/5th of staff.

• Most current revenue comes from consumer ChatGPT subscriptions.

• Focus now on enterprises; T-Mobile signed $100M three-year deal.

• Five levels of AI development planned: chatbots, reasoning, agents, innovators, organizations.

🔮 Industry prediction:

AI enterprise sales is becoming the Broadway of tech - everyone wants a hit show, but only a few will be Hamilton.

• Who's Moving: 
  🏃‍♀️ Leading: OpenAI (the original production)
  🚶‍♂️ Following: Google, Microsoft (big-budget competitors)
  ⌛ Waiting: Traditional enterprise software companies

• What's Next: 
  Now: Companies testing AI in specific projects
  6 Months: Full enterprise-wide AI adoptions
  1 Year: AI becomes standard budget line item

⚡ The bottom line: OpenAI's enterprise push is like Formula 1 entering America - transforming from niche tech into mainstream business essential.

🗞️ Speed Reads

🤖 AI & Tech

ChatGPT could start showing ads although Altman isn’t a fan.

Now Meta wants in on nuclear-powered data centers.

Perplexity pondering about launching a hardware product.

Anduril and OpenAI partner on counterdrone software.

Google’s GenAI video tool available for preview.

💼 Startup & Business

Jerome Powell says Bitcoin competes with Gold and not the USD.

Creators of Google’s NotebookLM quit to start new venture.

JetBlue trims unprofitable routes to focus on core markets.

Sam Altman says it’d be ‘un-American’ if Musk uses his political power against rivals.

🏢 US Politics

Trump wants commitment from BRICS on using the USD.

Pete Hegseth could be replaced by Ron DeSantis for top Pentagon job.

🌏️ Global Affairs (non-US)

How martial law was defied in South Korea by Lee Jae-myung and the opposition.

Germany to grow only by 0.1% in 2025.

Japan’s industry and retail trade are surprisingly positive.

China’s state newspaper says less than 5% GDP growth is acceptable.

India’s economists hint at tough times ahead.

💫 Mind Candy

AI pioneer Fei-Fei Li launched a system that can create 3D worlds from a single image. Users can step into the generated scene, explore and modify it.

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