February Week 3 - 2024

MUSIC RESET
Will 2024 Be The Year Hip-Hop Lost Its Dominance? It May Be Time For Some Self-Reflection?

In 2023, after a staggering 378 days, a rap song finally clinched the #1 spot on the Billboard Hot 100, marking the end of a prolonged dry spell. But what led to this drought, and what does it signify for the future of hip-hop?

Billboard attributes the lengthy gap to a decline in hip-hop's commercial dominance, citing a shift towards Latin and country genres. However, this explanation falls short, considering rap's previous reign since 2018. Perhaps it's time to delve deeper into the genre's challenges and potential changes on the horizon.

Rap music, known for its inconsistency, has long grappled with controversies and negative associations, notably with violence. Tragic incidents involving artists like Takeoff and others have fueled perceptions of rap as a violent genre, deterring some listeners.

Moreover, industry stagnation poses a significant hurdle. Renowned artists like Nicki Minaj and Cardi B have gone years without releasing full-length albums, impacting album sales and audience engagement. Even releases from celebrated figures like Drake have received mixed reviews, signaling a need for revitalization within the genre.

Yet, amidst these challenges, there have been standout releases, such as Doja Cat's "Scarlet" and Kaytranada & Aminé's "KAYTRAMINÉ." However, these successes underscore a broader need for innovation and consistency within hip-hop.

Looking ahead, 2024 may mark a turning point in hip-hop's trajectory. As icons like Jay-Z and Kanye West, among others, approach their later years, there's a growing sentiment that their dominance may inadvertently stifle the emergence of new icons. Their braggadocious narratives of “I am the greatest of all time!!!” may be losing it’s appeal, paving the way for a shift in musical preferences among this generation (Gen Zs).

In essence, while rap remains a formidable force in the music industry, its future success hinges on adaptation and evolution. If Hip Hop navigates these challenges and embraces change, it may be able to redefine itself and captivate audiences all over again for generations to come. 🤞🎤🎧

CRYPTO RESET
Is Bitcoin Showing Signs Of A Super Cycle?

As Bitcoin recently soared to $52,000, breaking into the 618 fib extensions, an occurrence typically seen post-Bitcoin halving, speculation abounds regarding a potential deviation from the usual cycle. Traditionally, the halving event, which reduces the rate of new coins entering circulation, triggers an upward trajectory in Bitcoin's price. However, the recent surge suggests an accelerated pace, prompting questions about the cycle's predictability.

The surge in Bitcoin's value to $50,000 marks a significant milestone, driven by a surge in investor interest and anticipation surrounding the halving. This resurgence follows a remarkable comeback for Bitcoin, which has surged over 200% from its 2022 low of $16,000.

Industry experts are optimistic about Bitcoin's future, with projections of reaching $69,000 and even $100,000 by 2024, fueled by the narrative shift from ETFs to the impending halving. However, the accelerated timeline raises eyebrows, hinting at a potentially unprecedented cycle.

The halving, a fundamental concept in Bitcoin's philosophy, occurs approximately every four years, reducing the reward for miners and, theoretically, driving up Bitcoin's price due to increased scarcity. Historically, each halving has triggered bullish price action, with significant gains witnessed in the years following.

Investors are bracing for increased volatility surrounding the halving, anticipating bullish momentum tempered by dramatic sell-offs. The timing of this year's halving, coinciding with the approval of the first spot 9 Bitcoin ETFs, adds further complexity to the market dynamics, with inflows surging dramatically in the last four days, surpassing $2.2 billion, a figure that eclipses the total inflows recorded during the first four weeks of trading.

As Bitcoin continues to defy expectations and chart its course, the possibility of a paradigm shift in the traditional halving cycle looms large, signaling a new era for the world's most popular cryptocurrency. 💰🚀

AI RESET
Sam Altman's $7 Trillion Dollar AI Chip Dream: Is This Man Serious?

The news of Sam Altman's ambitious plan to raise up to $7 trillion for a new AI chip project has stirred up both intrigue and skepticism. Many are questioning the feasibility of such a colossal fundraising endeavor, with comparisons highlighting the enormity of the proposed sum.

Altman's proposal, reported by the Wall Street Journal, has already sparked discussions with potential investors, including the government of the UAE. However, critics have emerged, labeling the initiative as mere "showmanship" aimed at cultivating a loyalist following to AI.

Silicon Valley investor Sam Lessin and climate researcher Sasha Luccioni have expressed concerns about the environmental impact and resource consumption associated with developing AI systems and chips on such a massive scale. Luccioni particularly emphasized the staggering demand for natural resources like water and rare earth minerals.

Altman swiftly responded to critics, urging them to focus on contributing to humanity's collective future rather than writing off ambitious projects. However, skepticism persists, with AI critic Gary Marcus questioning the wisdom of investing so heavily in large language models as the sole solution to securing our future.

Marcus emphasized the importance of diversifying investment and exploring alternative technological paths, considering the uncertainties and risks associated with such a monumental commitment to AI. He cautioned against rushing into such a significant financial undertaking without thoroughly assessing its potential impact on society.

As debates surrounding Altman's $7 trillion AI chip dream continue to unfold, it remains to be seen whether the project will materialize and how it will shape the future of AI development and innovation.

DISCLAIMER:
This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions or investments. Please be careful and do your own research.