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Happy Monday!

Welcome to another week.

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In today’s Morning Mashup:

Read time: 4 minutes

🤖 ChatGPT: A Six-Month AI Revolution

Can you believe it's been half a year since OpenAI unleashed ChatGPT? It's been a wild ride, but let's take a moment to marvel at what's been achieved.

This AI has evolved into a gateway to information, a platform for innovation, and even a coworker for some. However, it's also stirred up quite a controversy, with concerns about job displacement, misinformation, and even cyber threats.

We're living in a world where AI has the potential to be both a creator and a destroyer. It's exhilarating and terrifying all at once. But, as with any revolution, there's a balance to be found.

Here's a quick glimpse at the timeline of ChatGPT's thrilling six-month journey:

• November 2022: ChatGPT made its debut, impressing the tech world with its capabilities.

• December 2022: Google called a "code red," highlighting the double-edged sword of AI development.

• January to March 2023: Investments poured in, and new features rolled out, including a paid version and integration with Bing search.

• April 2023: The U.S. government started noticing, with the Commerce Department stepping up for AI regulations.

• May 2023: OpenAI released a ChatGPT iPhone app, while AI regulation talks hit the congressional floor.

But let's keep things in perspective. While AI, including ChatGPT, is making waves, we're still in the early innings. It's reminiscent of the early days of the internet, where potential was abundant but the future was uncertain. Tech giants may further consolidate power, or a new player may emerge and dominate the scene.

Only time will tell.

So, what's on the horizon?

We're looking at the potential for the first-ever AI-influenced elections, a surge in tech investments colliding with legal conflicts over intellectual property, and a realization that, while AI is powerful, it's not the silver bullet for all our problems. 

🏦 Market Pulse: Fed Decisions, Witching, and Treasury Tidings

What a rollercoaster ride it's been for the stock market. Tech has pushed the Nasdaq to its longest winning streak since November 2019 and the S&P 500 is showing off in full bull market fashion.

The market even got a breather when the US suspended the debt ceiling, averting a potential default. But don't get too comfy yet. The Federal Reserve meeting on June 13-14 is up next. Interestingly, while we usually sit on the edge of our seats for the Consumer Price Index (CPI) and Producer Price Index (PPI) numbers, this time, the market is taking it in stride, seeming less concerned about these figures impacting the Fed's decision.

There's chatter that the Fed might skip a rate hike in June, not to be confused with a pause. That means we could see a rate hike as early as July. Although the rate decision isn't likely to shake things up (kudos to the Fed for being clear with its intentions), there are other factors that could give stocks a boost:

• Lower inflation numbers or a softer stance from Jerome Powell, the Fed Chair, could do the trick. But be warned, any talk of further tightening might put a chill on the market's rally.

• We have the "quadruple witching" on June 16 - a simultaneous expiration of options and futures on indexes and stocks that could whip up some volatility.

Despite the close calls with the debt ceiling and potential credit rating downgrades, US Treasuries continue to hold their ground as the "safe haven" of choice. In fact, a credit downgrade could even spark a rally in Treasuries.

Buckle up, this week should be a fun one.

🌐 Coinbase CEO's Rally for Crypto Clarity

Let's revisit the Coinbase discussion. Their CEO, Brian Armstrong, recently shared his insights about the future of crypto regulations in the U.S.

He's confident that the U.S. will eventually find its way to the "right outcome".

Armstrong touched on a very important point – the need for clear regulation guidelines. He sees an ongoing "turf war" between the SEC and the Commodity Futures Trading Commission and emphasizes the need for clear boundaries between these major U.S. financial regulators.

In fact, he suggests that we could borrow fundamental regulations from traditional finance, including consumer protection, financial statement audit requirements, and AML and KYC procedures.

It's about time for the crypto industry to have its own rule book, don't you think?

Once the U.S. gets clear and stable crypto regulations, Armstrong sees it as a rallying call for crypto entrepreneurs. The ones who have ventured away might just come back home, bringing their innovation and drive with them.

We hope.

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🐦 Tweet of the day

The secret isn't a hack, it's AI.

That’s all for now!

If you have any interesting projects or ideas please reach out to us by responding to this email or by sending us a DM on Twitter: @DerikVasquez & @MorningMillionaire

As always, thank you for your time, and see you soon.