👀 Google's AI competition

India's in and China's out, Perplexity is keeping the AI hype going, and the queen of game shows | [Finimize](   TOGETHER WITH     Hi {NAME}, here's what you need to know for August 10th in 3:14 minutes.   📈 Hannah Grove, abdrn board member and former CMO of State Street, believes Net Promoter Score (or NPS) should be a marketeer's top priority. [Tune into the latest episode of our Generation Podcast episode](, and find out how to bring in 10s. [Listen here]( Today's big stories - Perplexity’s AI search engine is only getting more popular, putting long-time leader Google under pressure - Six day-to-day changes you can make to better handle a market sell-off – [Read Now]( - Global firms like PepsiCo and Unilever have been tailoring products for India’s shoppers, concerned over China’s recent thriftiness Clear The Way [Clear The Way] What’s going on here? Perplexity made sure there was no confusion about its position as a Google challenger, completing a funding round that tripled its valuation. What does this mean? Perplexity’s search engine – which pulls information from the web in real time to answer queries – is one of the world’s fastest-growing generative AI applications. It answered roughly 250 million questions last month, compared to 500 million queries for the whole of last year. And the startup’s monthly revenue, made from subscriptions to its more powerful Pro model, has swollen sevenfold since the start of the year. The inner circles are clearly impressed: Perplexity just [raised]( $250 million from investors – including SoftBank’s Vision Fund 2 – in a deal that valued the startup at $3 billion, triple the figure it secured only four months ago. Why should I care? The bigger picture: Hold onto your search bars. Google’s hold over the $300 billion search advertising industry is under threat. And not just from Perplexity: OpenAI recently launched its own AI-powered search tool, SearchGPT. But Google can’t count on its usual tricks anymore. A US federal judge [ruled]( on Monday that the firm acted illegally to maintain its monopoly on online search and related advertising. Now, the court hasn’t given Google its orders yet, but it’s safe to say that none of the solutions will help the leader hang onto pole position. For markets: What goes down might come up. Investors have become wary of the amount of money being funneled into AI, concerned that the tech’s real-world uses won’t be as lucrative as expected. Yet, as Perplexity’s success shows, there’s still plenty of demand for super-smart services. So when global markets tumbled on Monday, big-money investors seized the rare opportunity to buy tech stocks while they were less eye-wateringly expensive than usual. They won’t have any regrets yet: the S&P 500 has been steadily recovering since then. You might also like: [The smart thing hedge funds did during the dip.]( Copy to share story: [( 🙋 [Ask a question](mailto:questions@finimize.com?body=Ask us a question: Where are you writing from? Let us know and we'll mention it when we reply.&noapp=true&subject=Clear The Way&utm_campaign=daily-global-10-08-2024&utm_source=email) Analyst Take How Not To Get Caught Out In A Market Rout: Don’t Confuse Volatility With Risk [How Not To Get Caught Out In A Market Rout: Don’t Confuse Volatility With Risk]( By Theodora Lee Joseph, CFA, Analyst Let’s face it, Monday was [mayhem]( for markets. But as investing lessons go, it was sublime. See, figuring out how to handle price [swings]( is just as important as picking the right assets. Honestly, most investors struggle even to comprehend their own [appetite for risk](. They binge on it during good times and become suddenly averse after a loss. And when you get caught up in day-to-day market movements, it’s easy to confuse [risk with volatility]( – and that can throw you off track in reaching your financial goals. That’s today’s Insight: [risk, volatility, and six things that can help you handle the market’s swings](. [Read or listen to the Insight here]( SPONSORED BY TIICKER Your existing stock picks are hiding shareholder perks Dividends, capital gains, diversification – pfft, try VIP invites and hand-delivered gifts. [Link your brokerage account with TiiCKER](, the world’s first and biggest shareholder rewards platform, and your existing holdings will open up [perks that you never even knew existed](. We’re talking [credits]( for your dream cruise vacation, home appliance discounts, streaming subscription savings, cheap movie tickets, free exercise equipment, and more – [take your pick](. You can also [discover new brands]( that align with your lifestyle and values, as well as uncovering insights that go beyond the financial filings of public companies to show you the full picture. Not only is TiiCKER free to use, but if you [connect a portfolio with at least $100 worth of holdings, you’ll get an $11 gift card just for joining](. A walk in the perk, indeed. [Discover More]( When you support our sponsors, you support us. Thanks for that. If you want your brand featured here, [get in touch.]( Money Where The Mouths Are [Money Where The Mouths Are] What’s going on here? Major multinational brands like PepsiCo and Unilever [have]( shifted their focus to India, eager to fill an appetite somewhere now that China’s on a slimming diet. What does this mean? India boasts the biggest population in the world, and the country’s shoppers aren’t afraid to propel the economy by spending big. So global brands are determined to create some loyal customers in the country’s largely untapped rural areas: PepsiCo’s rolling out KurKure Chaat Fills, inspired by Indian street food, Coca-Cola is upgrading packaging to extend product shelf life, and Nestlé plans to bring its premium coffee brand Nespresso to the Indian market this year. Why should I care? For markets: Watch out, America. Investors are laser-focused on the Indian market, too. The Nifty 50, which tracks India’s 50 biggest companies by market value, has climbed 12% this year, right in step with the S&P 500. Two main factors are keeping India’s stocks at the head of the pack. First, the country’s economy doesn’t rely on the US as much as peers like Taiwan and China. Second, foreign investors are piling in, attracted by the country’s stable currency, strong corporate earnings, and hardy returns – compared to China at least. The bigger picture: Talk about an Indian summer. India sizzled under near-record temperatures this summer, with a brutal heatwave keeping shoppers indoors. The disruptive scorcher was mentioned a record-breaking 80 times in the earnings reports of companies in India’s Nifty 500 index, according to Bloomberg. That’s a serious increase from seven mentions this time last year. And that might partly explain why out of the 46 Nifty 50 index members that have reported results so far, about half have missed the average analyst estimate – notably worse than the previous quarter’s 39%. So companies might want to work on their ice cream brands: the G20’s Climate Risk Atlas says India’s heatwaves are set to get 25 times longer over the next three decades. You might also like: [How to buy India’s red-hot stocks on the cheap.]( Copy to share story: [( 🙋 [Ask a question](mailto:questions@finimize.com?body=Ask us a question: Where are you writing from? Let us know and we'll mention it when we reply.&noapp=true&subject=Money Where The Mouths Are&utm_campaign=daily-global-10-08-2024&utm_source=email) 💬 Quote of the day "Whatever you vividly imagine, ardently desire, sincerely believe, and enthusiastically act upon... must inevitably come to pass." – Paul J. Meyer (an American motivational speaker) [Tweet this]( Your world stage is ready – and the gold medal can be arranged So you didn't make it in bouldering, beach volleyball, or breakdancing. The Olympics might be out of your grasp, then, but another world stage is calling you. We're looking for speakers for our [Modern Investor Summit]( this December this year – you know, the stage that hosted Jamie Dimon a few months ago. [Take a look at last year’s recording of CFA Institute’s session]( to get a feel for it. If you’re ready for your turn, [talk to the team before the slots fill up.]( [Drop Us A Line]( 📕 a page from the retail crowd’s playbook When global markets plunged on Monday, something surprising happened. Hedge funds and other big-money investors jumped at the opportunity to [buy the dip]( – stealing a much-loved tactic from the retail crowd, who in this case pounced at the chance to sell. And if history is anything to go by, those [fund-managing institutions probably played it right](. [Read The Quicktake]( 🎯 On Our Radar 1. Breakdancers took to the Olympic stage. Clue yourself up on [the Games' new sport](, then you can be the judge. 2. Gyms, restaurants, car dealerships. [Celebrities and the ultra-wealthy have been investing in franchises]( for years, and now you can too.* 3. Pancakes are done for. One company is [making dosas a global household staple](. 4. Bitcoin's highs have come with some serious lows. [Find out how to invest in crypto]( without the emotional rollercoaster.* 5. At some point, your specialist subject is the game itself. Meet the quizzer who’s graced [25 game shows](. 🌍 Finimize Live 🤩 Grab your tickets... 💰 [How To Invest Like A Modern Warren Buffett:]( 5pm, August 14th 😎 [Make More Out Of Your Portfolio With US-listed Options:]( 5pm, August 15th 🔨 [Five Portfolio Hacks For Busy Investors:]( 5pm, September 12th 🚀 [2024 Modern Investor Summit](: 2pm, December 3rd ❤️ Share with a friend Thanks for reading {NAME}. If you liked today's brief, we'd love for you to share it with a friend. You stay classy, {NAME} 😉 We’d love to hear your thoughts. [Give feedback]( Want to advertise with us too? 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