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Reddit wants to IPO. NVIDIA is hot (but we’re not)

February 23, 2024

GM. February is almost over already (finally?). Gmail went viral. A16Z and Coinbase go after the SEC.

Without Further Ado. ☕ *knuckle cracks* ☕ Let’s get into it.

Today’s Specials:

  • Weekend Alpha: What to Watch 👀 – Altcoins are slumping

  • No FOMO News 📰 : Reddit Files For IPO..?

  • No FOMO 🗿: The $NVDA Run Won’t Last Forever

  • AI Intel 🤖 : Sora Already Costing Video Production Jobs

  • AI App of the Week 💻: Travel Plans Made Easy

Weekend Alpha – What To Watch 👀

Pay Day Money GIF by Pudgy Penguins

Gif by pudgypenguins on Giphy

Avalanche confirms block finalization stall, developers currently investigating, Crypto Altcoins Slump After Ether Retreats From Almost 2-Year High of $3,000, AI-Linked Crypto Tokens Surge After Nvidia Sees 'Tipping Point’

The $NVDA Run Won’t Last Forever…

NVIDIA beat earnings, up over 36% this month alone. The Wall Street darling child now has a market cap larger than Canada’s GDP. But the gravy train won’t last forever. Let me explain:

  • The AI-chipmaker semiconductor is now more valuable than Amazon and Alphabet, in third place behind Apple and Microsoft

  • NVIDIA made 20% of its revenue last year on a single customer, and its second-biggest customer accounted for 10%.

  • NVIDIA is growing at the cost of big tech. The more profitable it is, the more big tech firms like Meta + Microsoft have to spend capex to keep growing.

  • If one day big NVIDIA clients decided to cut back on chip spending, or build their own chips, or cheaper versions from another supplier, NVIDIA would see a big hit.

TLDR: If you bought NVIDIA 2-4 years ago, you are up big. And for a good reason. It’s a great business. But the chip buying frenzy won’t last forever.

No FOMO News 📰

  • Andreessen Invests $100 Million in Crypto Startup EigenLayer (Bloomberg)

  • Reddit Discloses Bitcoin and Ether Holdings in IPO Filing (CoinDesk)

  • Winklevoss twins donate nearly $5 million to crypto super PAC (CNBC)

  • Cardano has 74% of Crypto Deadcoins, Report Says (CCN)

  • EU crypto AML authority to establish HQ in Frankfurt (Cointelegraph)

  • Coinbase, a16z Take SEC to Court Over 'Unlawful' Crypto Overreach (Decrypt)

  • Trump warms up to Bitcoin, signals openness to regulation (Crypto.news)

  • JPMorgan Sees Retail Traders Jump Back Into Crypto Markets in February (Bloomberg)

AI App of the Week 💻

AI gets a lot of hype. But how does that help me?

This section is dedicated to No Fomo’s favorite AI tools.

We’ll try to fish for things that make your life easier. Or we’ll give honest, informative reviews of apps capturing Internet attention.

This Week’s App De Jour:  Trip Planner AI

Planning for summer yet? Have a trip you forgot to put together? We have the perfect tool for you

Trip Planner AI builds complete itineraries and they are surprisingly useful. The tool starts with some basic questions about the trip, and does really well at including the most important parts that many other planners don’t – budget and logistics. 

Not only will it tell you what to do each day, it will tell you how much it will cost and how long it will take for you to get from one activity to the next. You can also look at trips others have built, and take them for your own.

We hadn’t seen this tool until recently, but we can’t wait to put it to the test irl.

AI Intel 🤖

  • Worldcoin Gains 40%, Hits Record High as AI Tokens Surge on Nvidia (CoinDesk)

  • 2024 is going to be a year of reckoning for AI (TheVerge)

  • Tyler Perry Puts $800M Studio Expansion on Hold After Seeing OpenAI’s Sora: “Jobs Are Going to Be Lost” (HollywoodReporter)

  • AI Tool May Help Predict Psychosis Before It Occurs (Medscape)

  • Google Suspends AI Tool’s Image Generation of People After It Created Historical ‘Inaccuracies,’ (Variety)

Mining for Memes ⛏️

This won’t go over well

Don’t panic, this is a joke. But it went viral.

This is NOFOMO, the newsletter keeping you up-to-date on all things emerging tech — from AI and Blockchain to Virtual Reality.

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DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell assets or make financial decisions. Please be careful and do your own research.

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