Jerry Lin
The Latest
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OpenAI's Fiery Burn Rate: Financial Meltdown in 2024?
While OpenAI has been hailed as the vanguard of the Fourth Industrial Revolution and the torchbearer for the AI wave, concerns over its financial sustainability have started to emerge. In the last six months, OpenAI's achievements and potential have kept both the tech community and the investor circles buzzing, even driving tech stocks to rally and diverting narratives from an interest rate-induced recession to a bullish surge. 
While OpenAI has been hailed as the vanguard of the Fourth Industrial Revolution and the torchbearer for the AI wave, concerns over its financial sustainability have started to emerge. In the last six months, OpenAI's achievements and potential have kept both the tech community and the investor circles buzzing, even driving tech stocks to rally and diverting narratives from an interest rate-induced recession to a bullish surge. -
Fed's Waiting Game: Soft Landing or Further Economic Downturn?
More economists, including officials from the Federal Reserve, predict that the U.S. might emerge from its recession. However, confirmation of this forecast won't likely arrive until 2024. 
More economists, including officials from the Federal Reserve, predict that the U.S. might emerge from its recession. However, confirmation of this forecast won't likely arrive until 2024. -
Coinbase Gains Backing from GOP Senator and Legal Scholars in SEC Battle
Coinbase, a leading American cryptocurrency exchange platform, has garnered significant support in its legal tussle with the U.S. Securities and Exchange Commission (SEC). Notably, Republican Senator Cynthia Lummis and a group of six esteemed legal scholars have stepped forward, filing amicus briefs in the U.S. District Court for the Southern District of New York, advocating for Coinbase's stance. 
Coinbase, a leading American cryptocurrency exchange platform, has garnered significant support in its legal tussle with the U.S. Securities and Exchange Commission (SEC). Notably, Republican Senator Cynthia Lummis and a group of six esteemed legal scholars have stepped forward, filing amicus briefs in the U.S. District Court for the Southern District of New York, advocating for Coinbase's stance. -
U.S. Department of Energy Pledges $1.2 Billion for Carbon Capture Tech; Buffett's Occidental Petroleum Reaps Benefits
In an effort to counteract escalating global warming issues, the U.S. Department of Energy announced on Friday, August 11, that it's investing $1.2 billion in technologies that extract carbon dioxide from the air. 
In an effort to counteract escalating global warming issues, the U.S. Department of Energy announced on Friday, August 11, that it's investing $1.2 billion in technologies that extract carbon dioxide from the air. -
Alibaba's Entertainment Division Turns Profit in Q2 2023, Driven by Offline Performance Revival
On August 10, Alibaba Group released its first financial report after its split. For the second quarter of 2023, Alibaba's entertainment division, encompassing Youku, Alibaba Pictures, and Damai, reported a swing from a loss to a profit, with revenues reaching 53.81 billion yuan, a year-on-year increase of 36%. The adjusted net profit stood at 63 million yuan, a marked recovery from a net loss of 907 million yuan in the same quarter of the previous year. 
On August 10, Alibaba Group released its first financial report after its split. For the second quarter of 2023, Alibaba's entertainment division, encompassing Youku, Alibaba Pictures, and Damai, reported a swing from a loss to a profit, with revenues reaching 53.81 billion yuan, a year-on-year increase of 36%. The adjusted net profit stood at 63 million yuan, a marked recovery from a net loss of 907 million yuan in the same quarter of the previous year. -
Ferrari's Female Buyers in China Surpass 25%, Outpacing Other Regions
Over a quarter of Ferrari's new and pre-owned car buyers in China are women, a significant increase compared to other global markets. Despite previous comments from Ferrari's top brass that there would be no special designs targeted towards women, insiders report that in the last five years, female consumers have contributed to 26% of Ferrari's sales revenue in mainland China, notably higher than other regions. 
Over a quarter of Ferrari's new and pre-owned car buyers in China are women, a significant increase compared to other global markets. Despite previous comments from Ferrari's top brass that there would be no special designs targeted towards women, insiders report that in the last five years, female consumers have contributed to 26% of Ferrari's sales revenue in mainland China, notably higher than other regions. -
IEA Cuts Next Year's Oil Demand Forecast; OPEC+ Cuts May Further Drive Prices Up
The International Energy Agency (IEA) mentioned in its oil market report released on Friday that next year's oil demand growth is expected to decelerate more than previously forecasted, citing economic challenges, slower-than-anticipated economic recovery, and the rapid growth of the electric vehicle sector. 
The International Energy Agency (IEA) mentioned in its oil market report released on Friday that next year's oil demand growth is expected to decelerate more than previously forecasted, citing economic challenges, slower-than-anticipated economic recovery, and the rapid growth of the electric vehicle sector. -
Bytedance Overseas Growth Outpaces Domestic: Daily Active Users Reach 840M, Up 40% YoY
Bytedance sees exponential growth in its international business as domestic numbers slow. 
Bytedance sees exponential growth in its international business as domestic numbers slow. -
European Gas Prices Surge: Is a 40% Increase Just the Beginning?
European gas prices rocket amid potential Australian gas factory strikes. 
European gas prices rocket amid potential Australian gas factory strikes. -
OPEC Optimistic on Oil Demand Growth; Foresees Q3 Supply Shortfall of 2.2M Barrels Daily
OPEC's latest monthly report remains upbeat about the rise in global oil demand for the next two years. It highlighted that Saudi Arabia, the world's largest oil exporter, voluntarily cut production by 1 million barrels per day from July to September, leading to the most significant drop in oil inventories in two years. 
OPEC's latest monthly report remains upbeat about the rise in global oil demand for the next two years. It highlighted that Saudi Arabia, the world's largest oil exporter, voluntarily cut production by 1 million barrels per day from July to September, leading to the most significant drop in oil inventories in two years.
