This Is How the AI Bull Market Ends

The AI bull market as we know it right now will end...And all the big popular AI stocks investors are piling into right now will NOT be the where the biggest returns will come from. And for investors who don't know how the market is changing and where it's going...They could end up left behind.

On the first day without X, many Brazilians say they feel disconnected from the world

GABRIELA SÁ PESSOA
August 31, 2024

SAO PAULO (AP) -- The blocking of social media platform X in Brazil divided users and politicians over the legitimacy of the ban, and many Brazilians on Saturday had difficulty and doubts over navigating other social media in its absence.

The shutdown of Elon Musk's platform started early Saturday, making it largely inaccessible on both the web and through mobile apps after the billionaire refused to name a legal representative to the country, missing a deadline imposed by Supreme Court Justice Alexandre de Moraes. The blockade marks an escalation in a monthslong feud between Musk and de Moraes over free speech, far-right accounts and misinformation.

Brazil is one of the biggest markets for X, with tens of millions of users.

"I've got the feeling that I have no idea what's happening in the world right now. Bizarre," entertainment writer and heavy X user Chico Barney wrote on Threads. Threads is a text-based app developed by Instagram that Barney was using as an alternative. "This Threads algorithm is like an all-you-can-eat restaurant where the waiter keeps serving things I would never order."

Bluesky, a social media platform that was launched last year as an alternative to X and other more established sites, has seen a large influx of Brazilians in the past couple of days. The company said Friday it has seen about 200,000 new users from Brazil sign up during that time, and the number "continues to grow by the minute." Brazilian users are also setting records for activities such as follows and likes, Bluesky said.

Previous users of other platforms welcomed Brazilians to their ranks. "Hello literally everyone in Brazil," a user wrote on Threads. "We're a lot nicer than Twitter here," said another.

Platform migration isn't new for Brazilians. They were huge adopters of Orkut and, when Orkut went kaput, they very gladly moved to other platforms.

X is not as popular in Brazil as Facebook, Instagram, YouTube or TikTok. However, it remains an important platform on which Brazilians engage in political debates and is highly influential among politicians, journalists and other opinion makers.

It's also where they share their sense of humor. Many of the country's most famous memes originate from posts on X before spreading to other social networks. Last week, for instance, Brazilians collaboratively crafted an absurd storyline for a fictional telenovela, complete with a theme song created using artificial intelligence tools.

Pop stars and their fanbases were also hit by Brazilians being left off the platform.

"Wait a lot of my fan pages are Brazilian!!! Come back hold up!!," Cardi B said Friday on X. A fan page dedicated to Timothée Chalamet, known by the handle TimotheeUpdates, said it would temporarily cease updating as all of its administrators are Brazilian.

De Moraes said X will stay suspended until it complies with his orders, and he also set a daily fine of 50,000 reais ($8,900) for people or companies using virtual private networks, or VPNs, to access it. Some legal experts questioned the grounds for that decision and how it would be enforced. Others suggested the move was authoritarian.

The Brazilian Bar Association said Friday in a statement that it would request the Supreme Court review the fines imposed on all citizens using VPNs or other means to access X without due process. Brazil's bar association argued that sanctions should never be imposed summarily before ensuring an adversarial process and the right to full defense.

"I've used VPNs a lot in authoritarian countries like China to continue accessing news sites and social networks," Maurício Santoro, a political science professor at the State University of Rio de Janeiro, said on the platform before its shutdown. "It never occurred to me that this type of tool would be banned in Brazil. It's dystopian."

A search Friday on X showed hundreds of Brazilian users inquiring about VPNs that could potentially enable them to continue using the platform by making it appear they are logging on from outside the country.

"Tyrants want to turn Brazil into another commie dictatorship but we won't back down. I repeat: do not vote on those who don't respect free speech. Orwell was right," right-wing congressman Nikolas Ferreira, one of former President Jair Bolsonaro's closest allies, published before X went off. Musk replied with an emoji suggesting agreement: "100".

Ferreira is a 28-year-old YouTuber who received the most votes of the 513 elected federal lawmakers in the 2022 election. De Moraes ordered the block of his social media accounts after a mob of Bolsonaro supporters attacked Brazil's Congress, presidential palace and Supreme Court in January 2023 seeking to overturn the election.

Lawmaker Bia Kicis said "the consequences of Alexandre de Moraes' attacks to Elon Musk, X and Starlink will be regrettable for Brazilians." She also urged Rodrigo Pacheco, the president of the country's Senate, to act. Kicis has repeatedly urged Pacheco to open impeachment proceedings against the Supreme Court justice.

"We need to leave this state of apathy and stop the worst from happening," the pro-Bolsonaro lawmaker, whose profiles were temporarily blocked by de Moraes in 2022, also said.

The former president said Saturday on Instagram that X's departure from Brazil was "another blow to our freedom and legal security."

"It not only affects our freedom of expression, but also undermines the confidence of international companies in operating on Brazilian soil, with impacts ranging from national security to the quality of the information that reaches our citizens," Bolsonaro said.

On Friday, President Luiz Inácio Lula da Silva backed de Moraes' decision and took aim at Musk for positioning himself as though he was above the law during an interview with Radio MaisPB.

"Any citizen, from anywhere in the world, who has investments in Brazil, is subject to the Brazilian Constitution and Brazilian laws. Therefore, if the Supreme Court has made a decision for citizens to comply with certain things, they either have to comply or take another course of action," Lula said. "It's not because the guy has a lot of money that he can disrespect it."

Ana Júlia Alves de Oliveira, an 18-year-old student, shared that many young people like her no longer watch newscasts or read newspapers, relying solely on social media platforms like X for their news. Without this platform, she felt disconnected.

"I kind of lost touch with what's going on around the world," she said. "I saw a lot of entertainment there too, so this is a new reality for me."

___

Ortutay reported from San Francisco and Biller from Rio de Janeiro. Associated Press writers Mauricio Savarese and Felipe Campos Mello contributed from Sao Paulo.

Continue Reading...

Popular

After Lightning Port, EU Targets Apple's iPhone and iPad Systems, Demands Greater Access for Third-Party Developers

European Commission is investigating Apple's iPhone and iPad operating systems for potential antitrust violations and will complete proceedings in 6 months. Other Big Tech companies have faced similar scrutiny in the US and China for monopolistic practices.

Forget AI, Imperium Is Expected to Grow 320,000% In 3 Years - Ad

Three of the world's biggest AI companies -- Google, Nvidia and Intel -- have even partnered with my No. 1 Imperium company to get on this massive mega trend. The average investor hasn't caught on yet, but you can still invest in my No. 1 Imperium company for just $10 a share.

Imminent FDA Decision Could End Obesity in America... - Ad

...and spark a 224,000% sales surge for one tiny micro-cap stock. Channelnomics says it "Could have a greater impact on the world than artificial intelligence." BMO Capital calls it "A goldmine for investors." The Wall Street Journal says it's "A Gold rush."

Elon Musk Comments On Why They Want To Kill Trump, DeSantis Promises Florida's Own Probe

A second assassination attempt on Donald Trump was foiled by the U.S. Secret Service while he was golfing in Florida, with political figures from both parties condemning the incident and reaffirming the importance of denouncing political violence.

4 Steps to Survive the Coming Market Crash - Ad

There are massive cracks forming right below the surface of our "shining city." These cracks are a symptom of a much bigger problem that threatens the very foundation of our country. Things are starting to unravel at a fast pace, as America sees worst economic hell our country has ever been in.

The Masters adds two hours of weekend coverage on Paramount+

The Masters and CBS are expanding television coverage next year by five hours, which includes two hours on Saturday and Sunday through the Paramount+ streaming service of CBS.

Top 2 Energy Stocks That Are Ticking Portfolio Bombs

Two stocks in the energy sector could be flashing a real warning to investors who value momentum as a key criteria in their trading decisions.

The Last Time Gold Flashed This Warning Sign, the Market Dropped 80% - Ad

Both President Trump and Elon Musk are warning about something that could send the market down 50%, real estate down 40% and savings accounts down 30%.

Longshoremen at key US ports threatening to strike over automation and pay

Determined to thwart the automating of their jobs, about 45,000 dockworkers along the U.S. East and Gulf Coasts are threatening to strike on Oct. 1, a move that would shut down ports that handle about half the nation's cargo from ships.

Huge payout expected for a rare coin bought by Ohio farm family and hidden for decades

TOLEDO, Ohio (AP) -- Three sisters from Ohio who inherited a dime kept in a bank vault for more than 40 years knew it had some value. But they had no idea just how much until just a few years ago.

DO NOT Make Another Trade Without Seeing This First - Ad

Starting September 23... a huge secret of the markets could help you consistently target gains like: 126%... 245%... even 463% or more... often in 30 days or less... No matter what the market does next.

The 2024 Olympics were a success for Paris but a calamity for some of its businesses

PARIS (AP) — Parisian business owners and hotel managers were promised a summer like no other. Millions of tourists would flood the French capital for the and , generating huge profits for Paris and its region.

Consumer Tech News (Sep 8-Sep 14): Gaming Industry Biggies Facing Accusations For Decieving Players, Apple Launches iPhone 16 & More

The tech sector is facing weakness despite AI hype. Gaming companies face accusations of overspending, while Netflix's mobile gaming catalog hits 210M downloads. Microsoft's Xbox Game Pass overhaul impacts anticipated titles. DirecTV accuses Disney of bad faith negotiations.

Seven Unknown AI Stocks That Could Dominate the Next Six Years - Ad

The original "Magnificent Seven" stocks generated 16,800% over the last 20 years. But now a new set of AI stocks is set to take over. Alex Green dubs them "The Next Magnificent Seven." And he's arguing that just $1,000 in each could turn into more than $1 million in less than six years.

China's economy softens in August as Beijing continues to grapple with lagging demand

BEIJING (AP) — China’s economy softened in August, extending a slowdown in industrial activity and real estate prices as Beijing faces pressure to ramp up spending to stimulate demand.

New "Living Missile" to Replace Nuclear Missiles - Ad

CBS News Reports: "It's an entirely new type of weapon." The New York Times Reports: "No existing defense can stop it." And one small company is building them for the Pentagon!

Treasury recovers $1.3 billion in unpaid taxes from high wealth tax dodgers

WASHINGTON (AP) — The IRS has collected $1.3 billion from since last fall, the agency announced Friday, crediting spending that has ramped up collection enforcement through President Joe Biden's signature signed into law in 2022.

Cathie Wood's Monday Maneuvers: Ark Invest Continues To Offload Robinhood And Palantir Shares

On Monday, Cathie Wood-led Ark Invest made significant trades, with Robinhood Markets Inc (NASDAQ:HOOD) and Palantir Technologies Inc (NYSE:PLTR) being the most prominent.

My No. 1 Oil Play for 2024 - Ad

Do you own oil and gas stocks? Or are you thinking about buying some? If so, you need to see my #1 oil play for 2024. But it's NOT oil stocks, futures, or anything you've likely heard about. Rather, it's an unusual way to potentially bank monthly income from the oil and gas markets.

Navy officer demoted after installing unauthorized satellite dish on warship to access internet

SAN DIEGO (AP) — A U.S. Navy chief who wanted the internet so she and other enlisted officers could scroll social media, check sports scores and watch movies while deployed had an unauthorized Starlink satellite dish installed on a warship and lied to her commanding officer to keep it secret, according to investigators.

Elon Musk: Without This Company, "Civilization Will Crumble" - Ad

Did you know that there's an investment that will give you the opportunity to collect "royalties" every time Nvidia makes a chip? Ex-Wall Street CEO Dylan Jovine calls this "the easiest windfall from the AI revolution." Even ChatGPT founder Sam Altman says AI depends on this company's work...

Volkswagen Recalls Every ID.4 SUV in U.S. for Door Malfunction Concerns

German automaker Volkswagen is recalling 98,806 of its ID.4 electric SUVs in the U.S. citing concerns about the door handles opening unexpectedly, the U.S. National Highway Traffic Safety Administration said on Tuesday.

Turkey's Spy Chief Meets With Hamas To Discuss Cease-Fire In Gaza: Reports

Turkey's intelligence chief met with Hamas in Ankara to discuss Gaza ceasefire negotiations, as Turkey denounces Israel's assault and conducts intensive diplomacy.

This $2 Stock Outshines Historic Gold Rally! - Ad

Gold has soared 25% in the last 6 months, but this young company has more than doubled that return. With a price target nearly double its current value, it's caught the eye of 40+ investment banks and funds. Discover the name of this standout company today and see why it's a potential gold mine for investors.

Walmart Division Sam's Club Raises Wages For Hourly Associates: A Strategic Move To Stay Ahead In Retail

Walmart Division Sam's Club boosts pay for frontline workers and provides guidance for their financial future. This leads to more productive and loyal employees.

Oil Surge Predicted...But Are You Ready? - Ad

Do you own oil and gas stocks? Or are you thinking about buying some? If so, you need to see my #1 oil play for 2024. But it's NOT oil stocks, futures, or anything you've likely heard about. Rather, it's an unusual way to potentially bank monthly income from the oil and gas markets.

Used Car Seller Carvana On Road To $15B Revenue By 2025 As Unit Growth Accelerates: BofA

BofA analyst reinstates Buy rating for Carvana with $185 price target. Expects sustained growth in recovering market and improved financials.

Moderna Faces Analyst Downgrades Amid Revised R&D Restructured Strategy and Delayed Profitability Target

Moderna announces plans to reduce R&D spending by $1.1 billion by 2027, focusing on ten key products. Analysts highlight near-term challenges, lowered price targets, and a delayed breakeven to 2028, with optimism around Moderna's oncology pipeline and long-term platform potential.

Discover the $2 Stock That Has Institutional Attention - Ad

With a $1.3B market cap and forecasts to grow 2X faster than the sector, dozens of investment banks are betting big. Strong leadership, cash on hand, and a $3 target make it a must-see.

The "Amazon Coin" -- To Be Bigger Than Bitcoin? - Ad

Starting September 23rd, this tiny 3-cent crypto could partner with one of the biggest companies in the world... Amazon. Declassified video reveals "Amazon Coin" ahead of $27 trillion crypto revolution. One team of crypto experts have identified it as the most promising crypto of 2024.

Firm offers bets on congressional elections after judge clears way; appeal looms

ATLANTIC CITY, N.J. (AP) — You can now do more than just vote in this fall's Congressional elections: You can bet on them, too.

Trending Now

Information, charts or examples are for illustration and educational purposes only and not for individualized investment management This message contains commercial elements, such as advertising. We only send these offers to those who have opted in to our newsletter. Past performance is not indicative of future results. For these reasons we strongly suggest trading in a DEMO/Simulated account. The information provided by us is for educational and informational purposes only. We make no representations or warranties concerning the products, practices or procedures of any company or entity mentioned or recommended and have not determined if the statements and opinions of the advertiser are accurate, correct or truthful. If you use, act upon or make decisions in reliance on information contained or any external source linked within it, you do so at your own peril and agree to hold us, our officers, directors, shareholders, affiliates and agents without fault.

Copyright markethundred.com
Privacy Policy | Terms of Service