Where does the new 'Gold' come from?

Alright so today we’ve got:

• House makes a deal. Finally. Now it’s up to Senate.

• So where does Lithium come from?

• Twitter is worth 1/3rd of what it was.

  Let’s do a scan.

The Big Picture

Lithium, the power source of the future, is expected to face a supply-demand mismatch of 300,000 metric tons by the end of the decade. In the U.S., Exxon is exploring an opportunity to purchase rights to mine lithium in Southern Arkansas, aiming to transform the region into a lithium hotspot.

Enter China, playing a high-stakes game, investing billions in politically unstable nations with vast lithium reserves. China is facing local resistance, resource nationalism, and market misunderstandings from South American countries.

Meanwhile, countries like Canada and Australia are slamming the door shut on new Chinese investments with an increase in decoupling from China by the West. Latin American countries are mulling over a lithium cartel. With a lithium reserve fifth largest in the world, Bolivia seems promising for China, but the country has been known to be fickle with foreign deals. Chile, the 'Saudi Arabia of lithium', faces a native uprising over environmental concerns. Despite boosting its output, it’s been three decades since Chile opened a new mine.

To navigate lithium refining, countries and corporations are trying to tap into cutting-edge technology, master market dynamics, and earn the trust of local communities.

Sector Sweep

Economy

• House has extended the Federal debt ceiling limit until 2025 and the bill now moves to the Senate.

Tech

• According to asset manager Fidelity, Twitter is now worth 1/3rd of what it was. Several advertisers have left Twitter in recent months, which was followed by the appointment of Linda Yaccarino as the CEO.

• Software leadership at companies like United Airlines, Johnson & Johnson, Visa, Cardinal Health, and Goldman Sachs are now using generative AI to automate part of their code.

• Amazon has settled a lawsuit over retaining kids’ voice recordings with Alexa as the company agreed to pay $30.8 million in settlement claims.

Automotive

• Luxury automaker Genesis is bringing facial recognition tech to its GV60 electric SUV. They would use this as a part of their keyless entry system.

• The US is becoming the next market to compete, when it comes to battery manufacturing. Ford, BMW Group, and Canadian battery maker Electrovaya are all announcing battery manufacturing plants in the US.

Energy

• A new type of U.S. oil will be used to factor in the price of crude oil. It is the first time a non-European system will be used to calculate the global pricing benchmark of crude oil.

Markets

• China’s company shares are now falling with higher pessimism about recovery plans. MSCI Index, a type of total stock market gauge for China has fallen into a bear market.

Retail

• Costco, whose average customers fall into the high-income category, has reported slower growth in sales at 3.7% compared to previous years’ 4.2%. Analysts have attributed this to a slowdown in consumer demand.

That’s all for today folks. Do keep a lookout for our weekly email about stock deep dives and personal finance strategies this Saturday.

BTW, do tell us how we did. Just hit us with a reply.

Cheers!

Memetic Universe

Oldest startup idea in the world.