and also crypto prices higher. specifically, i think two factors actually drive these two classes. the first one is liquidity and the second one is the us dollar. now, let s talk about liquidity i think in the past few weeks we have seen actually easing from china, and also from the us, the fed has been injecting liquidity through running down its overnight repo facility. also, from a seasonality perspective, november, december tends to be actually quite favourable in terms of financial conditions. indeed, the rally in bonds or the fall of interest rates have helped also financial conditions to ease in the past few weeks. hence, we have seen a surge in liquidity in the system and that propels both gold and crypto currencies higher. the next reason is the us dollar. now, of course, both gold and crypto currencies are denominated in us dollars and when the us dollars become weaker, that is actually a tailwind for both asset classes. obviously, as we mentioned, given that the
speak to a chinese economist at oxford economics. we are in expansionary territory but still quite, we are looking at perhaps quite a week set of data going to the end of the year. week set of data going to the end of the year. what does this tell us about end of the year. what does this tell us about the end of the year. what does this tell us about the broader - tell us about the broader chinese economy? it tell us about the broader chinese economy? it affirms to us we are chinese economy? it affirms to us we are family chinese economy? it affirms to us we are family on chinese economy? it affirms to us we are family on a chinese economy? it affirms to | us we are family on a bottoming out process. in this bottoming out process. in this bottoming out as always going to be volatile there will be slight ups and slight downs but chinese policymakers will look at the data from today and think this is the second month of contraction, we definitely need more stimulus
technology. certain parts of those surveys are supposed to be inaudible infrastructure and governed by non profit and yet, there is so much capitalistic kind of approaches to control of the commercial aspect and commercial potential of this technology. i think that openai saga was, you know, the fundamental tension is really between the nonprofit mission versus full profit but, of course, there is a lot of nuance between this in terms of how they govern, how the board handles this whole situation, including exactly what technical concerns that the board has seemed to compel them to press the panic button. last night overnight i woke up to a lot of discussion in terms of studies but we can take that later but the most important thing we can ask is what kind of, you know, technology, what kind of digital service should be governed by non profit and regarded as a public service and what kind of technology should be controlled by shareholders and commercial services? , sharehol
company board. nearly all of their workers are threatening to quit if the board does not resign and reinstate the former leadership. for members fired mr altman friday saying in a statement he was not consistently candid in his communications with them. the company also announced greg brockman, the president and co founder of openai, would step down as chairman of the board. but he quit. the company has named emmett shear, the co founder of livestreaming platform twitch as its interim ceo. two prominent open ai had to have signed on to the letter and chief technology officer and chief technology officer and the firm s chief scientist. on monday morning there was a tweet seeing there was a deep regret on the board s actions. the openai has been the dominant force in a development with its chatgpt chat port. this episode highlights a split in the field of ai between those pushing for progress and those pushing for progress and those urging caution. meanwhile microsoft has inves
the commercial real estate industry functions but it never reached its profitability, as you said there. its assets and liabilities of somewhere between $10 billion and $50 billion according to the bankruptcy report. we need to remember this was one of the most exciting projects on the horizon. it was worth $47 billion largely due to a chunk of investment from softbank but wall street were also excited, jp wall street were also excited, jp morgan chase was one of its first big investors. its co founder adam newman projected tremendous growth and took on expensive leases in big cities like new york and london and even here in singapore. but itjust never quite reached its profitability. and like so many industries, the covid 19 pandemic really impacted because a lot of clients now who had memberships with this company have pulled out because many of their workers are now working from home and they have done away with the real estate industry. as we have been reading this mornin