Trump Teams Up with Tech Giants | Apple Expands to Saudi Arabia | Global Ad Revenue Nears $1T

December 09, 2024

Good morning! ☀️ It’s Monday, December 9. Here’s what’s buzzing in today’s top business news: Trump Joins Forces with Tech Giants to Tackle Online Drug Sales, "Moana 2" Breaks Records, Global Ad Revenue to Hit $1 Trillion in 2024.

There’s so much to unpack—let’s dive in! 🚀

  • 🤝 Trump Joins Forces with Tech Giants to Tackle Online Drug Sales

  • 🎥 "Moana 2" Breaks Records, Fuels Disney's Epic Year 🌊

  • 🍎🇸🇦 Apple is Coming to Saudi Arabia!

  • 🚀 Jack Ma Talks AI at Ant Group’s 20th Anniversary

  • 📈 Chinese E-Commerce Stocks Soar After Stimulus News

  • 📊 Global Ad Revenue to Hit $1 Trillion in 2024

🤝 Trump Joins Forces with Tech Giants to Tackle Online Drug Sales

President-elect Donald Trump is calling on big tech names like Google, Microsoft, Meta, Snap, and TikTok to help crack down on illegal drug sales online. 💻 He’s invited them to a mid-December meeting to brainstorm solutions and figure out how they can work together. This ties into his bigger plan to fight the fentanyl crisis, which has taken so many lives. Trump’s strategy includes pressuring Mexico to stop fentanyl trafficking, threatening tariffs on countries that don’t cooperate, and launching a campaign to raise awareness about the dangers of fentanyl. 🚨

Tech platforms aren’t new to this fight—they’ve been under fire for allowing drug sales on their sites. Earlier this year, Meta was investigated for drug activity on Facebook and Instagram. In July, Meta, Snap, and X (formerly Twitter) teamed up with U.S. officials to form the Alliance to Prevent Drug Harms. 🌐

This meeting is a big step toward tackling the problem together. By teaming up, the new administration and tech companies hope to make the internet a safer place and help save lives. ❤️‍🩹

🎥 "Moana 2" Breaks Records, Fuels Disney's Epic Year 🌊

Disney’s Moana 2 is making waves! 🌟 The film pulled in $52M domestically this weekend, bringing its U.S. total to $300M and smashing $600M globally. Moana and Maui’s latest adventure is not just winning hearts—it’s one of 2024’s top 5 highest-grossing movies! 🏆

Other big box office hits include Wicked ($320.5M in the U.S.) and Gladiator II ($12.5M recently). With heavy-hitters like Kraven the Hunter and The War of the Rohirrim on the horizon, Hollywood is cruising toward a record $8.5B year! 🎬✨

Apple is Coming to Saudi Arabia! 🍎🇸🇦

Exciting news for Apple fans in Saudi Arabia! Starting summer 2025, you’ll finally be able to shop directly from Apple’s first-ever Arabic-language online store. And that’s just the start! By 2026, Apple will open gorgeous flagship stores, including a breathtaking one at Diriyah—a UNESCO World Heritage site near Riyadh. 🛍️🌟

Apple’s been making moves in the kingdom for a while now. Remember the Apple Developer Academy in Riyadh? It’s already helped nearly 2,000 students since 2021. Plus, they’ve invested a jaw-dropping 10 billion Saudi Riyals ($2.66 billion) over the past five years. 💰🚀

Right now, you can grab Apple products through resellers like Jarir Bookstore and Virgin Megastore. But soon, you’ll have a direct way to snag all your favorite gadgets—whether online or in-person. 📱✨

Apple’s CEO, Tim Cook, is just as thrilled about this expansion as we are. He says it’s all about connecting with customers in Saudi Arabia and empowering creativity and innovation. 🙌💡

Get ready, Saudi Arabia—Apple is leveling up! 🔥🎉

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Wall Street loads up on surprising $2.1tn asset class

Bank of America. UBS. JP Morgan. They’re all building (or have already built) massive investments in one $2.1tn asset class—and it’s not what you think. It’s not private equity or real estate, but fine art. Why?

In partnership with Masterworks, data from Citi shows it’s a potent diversifier with low correlation, and certain segments have even outpaced traditional investments. Take blue-chip contemporary art, which has outpaced the S&P 500 by 64% (1995-2023).

Masterworks knows the power of art investing, with their platform giving 900k+ users the opportunity to invest in this asset class as part of their overall portfolio strategy. In fact, from their 23 exits so far, Masterworks investors have realized representative annualized net returns like +17.6%, +17.8%, and +21.5%* (among assets held for longer than one year).

With so many users, Masterworks offerings can sell out quickly.

Past performance not indicative of future returns. Investing Involves Risk. See Important Disclosures at masterworks.com/cd.

🚀 Jack Ma Talks AI at Ant Group’s 20th Anniversary 🎉

Jack Ma made a rare appearance to celebrate Ant Group’s 20th anniversary, sharing his excitement about AI’s transformative potential in the next two decades 🌟. The company is already diving into this future with its AI-powered "Zhixiaobao" life assistant, launched in September 2024. From ordering food 🍔 to hailing taxis 🚕, the app makes life easier for over a billion Alipay users.

Big changes are also coming to leadership! Cyril Han will take over as CEO on March 1, 2025, while Eric Jing will stay on as chairman. With a clear focus on innovation and strong leadership, Ant Group is gearing up for an exciting future 🚀.

📈 Chinese E-Commerce Stocks Soar After Stimulus News

🚀 China Rolls Out New Economic Support
China’s Politburo just announced plans to step up fiscal policies and adopt a “moderately loose” monetary policy (a phrase we haven’t heard since 2010). The aim? To boost domestic demand and help struggling sectors like the property market, which has been feeling the pinch from the economic slowdown.

💹 Stocks Are Loving It
Markets reacted quickly to the news. Hong Kong’s Hang Seng Index jumped 2.8%, and over in the U.S., Alibaba’s shares climbed to $85.93 and JD.com’s to $37.18—both up 2.14%. Investors are betting that these measures could give these e-commerce giants a nice boost.

⏳ Why the Rush?
With China’s economy already slowing, there’s added pressure from potential U.S. trade policies under President Donald Trump. Tariffs on Chinese imports—up to 60%!—could shake things up even more, so China is doubling down on domestic spending and investment to cushion the blow.

🤔 What’s Next?
While the initial market reaction is upbeat (especially for Alibaba and JD.com), the broader economy isn’t out of the woods yet. Domestic indexes, like the Shanghai Composite, are showing only modest gains, leaving many wondering if these policies will be enough to turn the tide.

📊 Global Ad Revenue to Hit $1 Trillion in 2024

The advertising industry is on track to achieve a historic milestone in 2024, with global ad revenue projected to surpass $1 trillion for the first time ever! 🌍💸 According to a new forecast by GroupM, this represents a 9.5% increase in spending, up from earlier estimates of 7.8% growth.

Originally anticipated for 2025, this milestone is arriving a year earlier due to stronger-than-expected economic conditions and rising investments in digital platforms like Google, Meta, and TikTok. 📱✨ Digital media, especially social media and streaming ads, continues to lead the charge in this transformative period for the industry.

This growth highlights the resilience of advertising and its ability to evolve in a rapidly changing, tech-driven world. 🌟

Sources: WSJ | Financial Times

And that’s a wrap for today! 🎉

I’ll be back tomorrow with more updates, insights, and stories to keep you in the loop. Got something on your mind or thoughts to share? Just hit reply—I’d love to hear from you! 💬

Take care, stay awesome, and see you tomorrow! 👋✨