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Happy Monday!

Hope you took some time this weekend to unwind and relax - whatever that means for you.

In today’s Morning Mashup:

Read time: 4 minutes

🍎 Siri's Snooze: Will 3P Developers Seize the Day at Apple's Big Event?

Apple’s big event is happening today, and we're all pumped for a peek at their new mixed-reality headset. But, word on the street is that Siri may not be getting that Large Language Model (LLM) upgrade. Bit of a buzzkill, don't you think?

Apple has some serious on-device computing power - no doubt about that. But, while other big tech players are hitting the gas in the AI race with their GPT-like models, Siri seems to be idling. Looks like we'll need to hold our horses for an Apple AI sidekick.

Why the hold-up?

The rumors range from Siri licensing issues to tech infrastructure challenges. We know how Apple likes to take its sweet time perfecting its strategies - laying each brick just right. But, could they have missed the memo on the coming LLM tsunami?

Or maybe, just maybe, they're playing the long game. Like, they're waiting for the dawn of AR glasses tech to give us a mind-blowing experience. That's still a couple of years away, though.

But here's a thought - the third-party developers might just snatch the spotlight this Monday. With Apple hitting snooze on the LLM alarm, these devs could grab the opportunity. It is a developer conference, after all. Just saying.

💵 Crypto Trading & Taxes: Unraveling the Wash-Sale Rule Mystery

I wanted to bring your attention to a rule that could have a significant impact on your crypto gains (or losses) and your tax obligations: the wash-sale rule. It's not the most glamorous topic, but understanding this rule is crucial to navigating the complex landscape of crypto investments.

In a nutshell, the wash-sale rule is a regulation that says, "Hey, you can't claim a tax loss on the sale of a security if you buy a nearly identical one within 30 days before or after the sale." Established by our friends at the IRS, this rule was designed to stop investors from claiming tax deductions for losses while keeping their portfolio's structure essentially the same.

"But Derik, I'm a crypto investor. Does this apply to me?" You bet it does.

Even though there's no explicit legislation for cryptocurrencies yet, it's widely believed that the wash-sale rule applies to crypto just like it does to stocks, bonds, mutual funds, and options. In other words, if you sell a cryptocurrency at a loss and buy it back within a 30-day window, the IRS would consider this a "wash sale." Consequently, the loss you incurred is disallowed and added to the cost basis of the new security.

I know what you're thinking: "Cost basis? Isn't that some accounting jargon?" Well, yes, it is. But it's not as complicated as it sounds. Your cost basis is simply the original value of an asset, which is used to determine your taxable gain or loss when you sell it. It's typically the purchase price, including any fees or commissions associated with the purchase.

Let's say you sell an asset and its sale price is higher than its cost basis - congratulations, you've got a capital gain! But remember, you may be subject to taxation on that gain. If the sale price is less than the cost basis, you're looking at a capital loss, which can be used to offset capital gains and reduce your tax burden. Handy, right?

So, dear crypto investor, while you're riding the wave of crypto investments, remember to keep the wash-sale rule in mind. It's not just about buying low and selling high, it's also about understanding the rules of the game.

P.S. As always, consider consulting with a tax expert to better understand your specific situation. I'm here to provide insight, but each individual's circumstances can be unique and require a tailored approach.

🐦 Twitter 2.0: NBC Universal Veteran Takes Flight in New Role at Twitter

Joe Benarroch, a former standout at NBC Universal, is stepping into the Twitter scene. He's taking the reins of business operations, and from his email, he's pumped to team up with the crew and roll out "Twitter 2.0".

But here's an interesting twist - this isn't just a job change for Joe, it's also a reunion. Linda Yaccarino, who's now steering the ship at Twitter, was Joe's boss back at NBC Universal. There, Joe was the brains behind the communication strategy for the Advertising and Partnerships division. Linda, the top dog in advertising back then, is now Joe's boss again.

Life has a funny way of bringing people back together, huh?

But hey, it's not all blue birds and hashtags at Twitter. They've lost a couple of their big guns, Ella Irwin and A.J. Brown, from trust and safety, and brand safety and ad quality, respectively. But, Joe's not the kind of guy to shy away from a challenge. He's stepping into the ring at a time when Twitter could use a steady hand.

🧰 Productivity Arsenal

• Wavtool - AI assistant to create high-quality music and audio (link)

• 2short AI - Create YT content with AI-generated shorts (Link)

• Lebesgue - Analyze all your data to ensure marketing works correctly (Link)

• Bard Anywhere - Chrome extension to search Bard on any site (Link)

• AlphaWatch AI - Market research simplified (Link)

Have cool resources to share? Submit a tool by replying to this email.

🐦 Tweet of the day

Life’s a video game for the operators!

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.