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Issue #5

Teens now buying stocks, kid flies to class to avoid high rent, CEO says don’t learn to code, and more.

News from February 22 - Feb 29, 2024

Nvidia CEO: Don’t Learn To Code

Nvidia’s CEO suggests a shift away from teaching coding due to AI advancements. Speaking at the recent World Government Summit in Dubai, Jensen Huang advocated for human language as the new programming tool. The AI revolution is expected to make coding more accessible to everyone.

Huang: “It is our job to create computing technology such that nobody has to program. And that the programming language is human. Everybody in the world is now a programmer. This is the miracle of artificial intelligence. It is vital that we upskill everyone, and the upskilling process I believe will be delightful, surprising.” After his announcement, the Nvidia CEO went on to suggest that people could instead learn skills to become experts in more useful fields, such as biology, education, manufacturing, and farming.

Patrick Moorhead, tech industry analyst: “For over 30 years, I’ve heard ‘XYZ will kill coding’ yet we still don’t have enough programmers.”


Apple May Enter Sports Betting

Apple has released a new app, Apple Sports, for real-time scores, stats, and betting odds. Many are now wondering if the iPhone developer will eventually enter the lucrative sports betting market.

There has been a reported rise in the number of young sports bettors, suggesting high volumes and growth potential in the sector. However, when asked by the publication Barron’s if the app would later support live sports betting, Apple said simply that it had “nothing to share today.”

The app supports major leagues like the NBA, NHL, NCAA, and Premier League among others. Apple says that MLB, NFL, NCAAF, NWSL, and WNBA will be available “for their upcoming seasons.” Eddy Cue, Apple’s senior vice president of Services: “We created Apple Sports to give sports fans what they want—an app that delivers incredibly fast access to scores and stats.”

According to a new Siena College poll, nearly half of online bettors feel they’re betting more than they should.


Teens Are Now Trading Stocks

Teens are engaging more and more with the gamification of stock trading on apps, a new study shows.

More than half of the respondents (ages 13 to 17) received a smartphone around the age of ten. By age 11, they discussed opening a brokerage or checking account with their parents.

Trading apps allow them to buy and sell 'meme' stocks and options directly from their smartphones through well-known trading apps like Robinhood. During COVID, Robinhood experienced an unprecedented surge of young traders. Schwab, another trading platform, also saw the number of teen custodial accounts skyrocket from 120,000 in 2019 to over 300,000 by 2023, with Vanguard, Fidelity, and E*Trade experiencing similar growth.


Bulletin Board 

• People Say Their Day is Worth $134. Outside of work, Americans value their day at $134, a new poll finds. This figure comes from tasks like cleaning, cooking, and driving. On average, they spend $35 daily, with 39% desiring additional income. Only one in three currently feel financially free. (Source)

• Kid Flies to Class Due to High Rent. A college student in Canada has opted to fly 600 miles a week to the University of British Columbia, rather than pay high rent prices nearer campus. Tim Chen now commutes to classes twice a week from Calgary to Vancouver, costing him roughly $1,200 per month, less than half the price of a one-bedroom apartment in Vancouver. (Source)

• Restaurants May Soon Predict Orders. The founder of Shake Shack envisions restaurants using AI to personalize dining experiences and give order recommendations before customers even know what they want. Founder Danny Meyer: “By taking the guesswork out of the actual technical part of taking your order, it allows us to put 100% of our hearts into making you feel welcome.”

• Scientists Engineer ‘Glass Bricks’. Swiss scientists have created an aerogel glass brick that provides unparalleled levels of insulation. The new material reduces energy demands for lighting and heating, ventilation, and air conditioning without increasing the thickness of the insulation layer. Jannis Wernery, researcher at the Swiss Federal Laboratory for Science and Technology: “This is the highest insulating performance of any brick found in the technical literature, let alone on the market.” (Source)

• Mercedes Unplugs EV Plans. Mercedes-Benz has scrapped its plan to only sell electric vehicles by 2023, aiming instead for 50% EV sales. The scale back comes after slowing EV sales, customer concerns over price, charging time, and infrastructure, plus  increased interest in hybrid vehicles. Mercedes: “The company plans to be in a position to cater to different customer needs, whether it’s an all-electric drivetrain or an electrified combustion engine, until well into the 2030s.” (Source)

Disclaimer: This blog offers insights into international business and global events for informational purposes only. It is not intended as investment or business advice. WeavePay is not liable for any decisions made based on the content provided.

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