🐻 Recession? Black Friday Numbers rejects recession.

Ai and Generative Art, Coins of the Week, and more.

November 27, 2022

  • 🐻 Recession? Checking Black Friday Numbers

  • 📱 AI democratizes Generative Art at unthinkable speeds.

  • 💰 Coins of the week

  • 🐦 Tweet of the week:

  • 📰 Top Reads

  • 🙏🏻 Grateful for…

🐻 Recession? Checking Black Friday Numbers

This will likely end up being the biggest Black Friday ever online.

According to Adobe which tracks sales on retailers’ websites, online sales for the day after Thanksgiving are expected to top $9 billion. That would be a record.

The record-breaking spending comes on the heels of a strong day of Thanksgiving shopping, in which consumers shelled out an all-time high of $5.29 billion online, up 2.9% year-over-year. Shoppers spend about $2 billion to $3 billion online daily. 

Shopify (NYSE:SHOP) announced a record-setting Black Friday with sales of $3.36B from the start of the one-day shopping holiday in New Zealand through the end of the day in California.

The tally marked a 17% year-over-year increase in sales over Black Friday or +19% on a constant currency basis.

High inventories have been plaguing companies all year, playing a big role in the recent contraction in the U.S. economy. But merchandise pileups have only grown. U.S. retailers have been sitting on a record $732 billion of inventory as of July — a 21 percent increase from a year ago, according to Census Bureau data. All that inventory has to be moved and higher discounts will be available if needed to open up space for the new inventory. This may push this holiday sales numbers over a record of $1 trillion dollars.

Why is this important? - Online sales are exponentially increasing year-over-year as we feel more comfortable shopping with our devices and less comfortable being pushed around in crowded malls just to not the wide variety of products that we can see online.

Younger generations that grew up with cell phones now have the purchasing power to push sales numbers to record levels.

With the arrival of web3 technology, digital collectibles, and the metaverse, we can expect lots of those dollars (or cryptos) going to buy gear, tokens, and items in the metaverse.

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📱 AI democratizes Generative Art at unthinkable speeds.

Enter the text describing the image you want and boom!!! Well, perhaps not that easy, but almost.

Generative art has been one of the quintessential machine-learning use cases, but only recently has the space achieved mainstream prominence. The leap has been mostly powered by computational gains and a new generation of techniques that can help models learn without requiring a lot of labeled datasets, which are incredibly limited and expensive to build., but becoming more democratic as we type. Check “The Edge of NFTS for more NFT news and the latest tech in the space.

Why is this important? - As AI continues to expand its capabilities and its usage becomes ubiquitous even exponential tech growth speeds will increase. The world will become incredibly faster.

If your fridge detects that it needs milk, it will shop for you and the milk will be delivered (by an autonomous vehicle or drone) without you moving a finger. There won’t be a need to shop or make shopping lists.

Personalized learning data will become more granular, to the point where your AI assistant learns the exact kids learning needs and adjust daily to deliver the desired results. Use your imagination for the rest that is coming. Generative Art is the start, but AI can Re-Generate everything as we know it.

💰 Coins of the week

Huobi Token (HT) is the native token of the cryptocurrency exchange Huobi Global. It is a decentralized digital asset based on the Ethereum blockchain and is ERC-20 compliant. HT’s value is in part reliant upon the reputation of the Huobi crypto exchange, yet other factors also have an impact.

As more coins are being moved to decentralized exchanges or offline, Exchanges like Huobi are capitalizing on the opportunity.

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🐦 Tweet of the week

📰 Top Reads

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