Apple Will Need to Leave Its M&A Comfort Zone to Succeed in AI
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Apple will need to make the biggest acquisition in its history to put an end to its artificial intelligence debacle. Also: Meta rolls out new Oakley smart glasses; Honor prepares a new ultrathin foldable phone; and Apple's annual back-to-school deal gets underway.
Last week in Power On: Apple's upgrades to CarPlay, the iPad and Vision Pro outshine its new Liquid Glass interface.
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Thousands of coins still exist on their blockchains, with little or no activity — relegated to the status of 'ghost chains' in crypto parlance. What's different this time is that crypto is becoming a more regulated, institutionally-driven marketplace, and that stablecoins appear to be the only tokens with a real shot at achieving means-of-payment status, due to the fact that they eliminate volatility. In the past year alone, the market value of stablecoins has swelled by $47 billion, and some of the world's largest banks are entering the field. The Wall Street Journal reported this month that Inc. is studying a potential stablecoin. That's putting pressure on altcoin projects to find ways to shore up their status and appeal to a wider base of investors. 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'The Clarity Act has the potential to do for altcoins what ETFs did for Bitcoin and Ethereum: provide the regulatory legitimacy that unlocks real institutional capital,' said Ira Auerbach, a senior executive at Offchain Labs. Yet according to Maqubela, the issue ultimately boils down to utility. He compares Bitcoin to gold and Ether to copper — the former has a capped final supply and the latter's blockchain underpins much of crypto's functionality — and says most altcoins are stuck in a sort of twilight zone, underpinned by big promises and not much else. 'I think a lot of them are going to whittle down to zero because they were driven by speculation without that mimetic value like Bitcoin, and they tried to be utilitarian without achieving any real scale,' he said. 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