Is Meta bad for humanity, even if earnings were as good as it gets?

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Today's links mentioned on today’s SMC pod:

• Link to John’s latest FX Update - discussing FOMC, USDJPY lurch back and forth over BoJ and Ueda presser and with latest trend updates.

• The dystopic parts of Meta’s Superintelligence roadmap discussed by Scott Gallaway on the Pivot podcast - go to minute 50 for the short segment.

• The recent interview with the legendary Jeremy Grantham, who discusses the current market bubble and why it is a “losing business” to call the end of a bubble even if you know you are in one. Great comments on Mag7 and how the game is now changing for them in this new AI arms race. If you want to get really depressed, watch part two on the environment and endocrine-disturbing chemicals that are impacting our ability to reproduce. (Hey, I did my part, my wife and I have four kids).

Today’s chart of the day: Apple

Apple is expected to report strong handset sales today for the quarter, but the company’s hardware growth has been stagnating for years, with the company held up by services growth. In this age of the AI focus and with Apple’s access to its massive user base, how can the company monetize on AI without going the creepy invasive personal surveillance route of Meta? The chart looks very weak relative to the broader market, will Apple be able to pull any rabbits out of its hat today?