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| Hey Insiders, 📰 In today's issue, we cover this week's UFO hearings in Congress, the leading silver-producing countries, and a study showing that wealthy students are more likely to be admitted into elite schools. ⏬ Scroll down for some quick hits and upcoming events. 👂 We want to hear from you - let us know what other content you'd like to see in future issues. Happy reading! Vildana p/vildana-b | |
| 1 | | A Congressional panel will this week hold a hearing to discuss unidentified flying objects (UFOs). The House Oversight Committee will hear testimony from three witnesses; two of whom claim to have seen unidentified aerial phenomena, and a third who says the U.S. has "intact and partially intact" extraterrestrial vehicles. More: - The "Unidentified Anomalous Phenomena: Implications on National Security, Public Safety, and Government Transparency" hearing on July 26 will be open to the public and live-streamed.
- The witnesses are former U.S. intelligence official David Grusch, former Navy commander David Fravor, and former Navy pilot Ryan Graves.
- In June 2022, NASA announced that it had commissioned a panel to investigate UFOs.
Zoom Out: - Veteran space journalist Leonard David speculated that the government may be planning to move toward "full disclosure" regarding classified materials pertaining to UFOs.
- According to Professor Greg Eghigian at Pennsylvania State, calls for "full disclosure" first started in the late 1940s.
- Public polls indicate that most people believe the government is hiding the truth about UFOs.
- Astronomer Steven Dick is skeptical that the blurry Navy videos show UFOs piloted by aliens.
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| 2 | |  What the numbers say: Mexico was the top silver-producing country in 2022, followed by China, Peru, Poland, and Chile. Silver is an increasingly valuable precious metal with various industrial applications, including electronics, photography, solar panels, medical devices, electric cars, and 5G telecom networks. Relevance: Some 26,000 metric tons or 822.4 million ounces of silver were produced in 2022. Latin America plays a pivotal role in silver mining, with five countries—Mexico, Peru, Chile, Bolivia, and Argentina—among the top ten silver-producing nations. Mexico hosts five of the ten largest silver mines worldwide. Impact: Mexico is also a significant supplier of copper and zinc, demand for which is set to surge with the shift to renewable energy. | | |
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| 3 | | According to a study by Opportunity Insights, students with parents in the top 1% income bracket are overrepresented in U.S. elite colleges. The study examined the eight Ivy League schools, as well as Stanford, MIT, Duke, and the University of Chicago. More: - The research found that students in the top 1% were 34% more likely to be admitted than other applicants.
- Those in the top 0.1% had a 50% higher chance of admission, even with identical ACT or SAT scores.
- Major factors contributing to this disparity include legacy admissions and preferences for recruited athletes.
- Nonacademic ratings are 1.5x more likely to favor the top 0.1% over middle-class students, the study found.
- The study sourced data from federal records of nearly all students in the 12 elite schools from 1999 to 2015, focusing on college attendance and parental income.
- MIT, which has never used legacy admissions, was the only institution that did not show a preference for wealthier students.
Zoom Out: - In 2019, an FBI investigation discovered that a network of celebrities, business executives, and other powerful figures was at the center of a massive bribery scheme to ensure that their children were admitted into elite colleges.
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| 4 | | OpenAI's CEO Sam Altman has launched a new cryptocurrency project named Worldcoin. The initiative's primary feature is the World ID, a unique identifier verifying the holder as a genuine human, not an AI bot. More: - World ID is described as a "digital passport" that identifies users as humans through an in-person iris scan.
- The San Francisco and Berlin-based company Tools for Humanity is behind Worldcoin.
- From its beta phase, the project has garnered 2 million users.
- Early trading on Monday saw the price of Worldcoin's cryptocurrency token, WLD, peak at $5.29 on Binance.
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| 5 | | Once prominent in Western markets, Chinese investors are redirecting their funds to other regions, notably Southeast Asia, the Middle East, and South America. Previously, Chinese investors were known for acquiring luxury assets in the West, including five-star hotels in New York. More: - The change is attributed to growing hostility towards Chinese capital in the West.
- The primary focus of Chinese investment has shifted to regions like Southeast Asia, driven by Beijing's aim to strengthen alliances and access critical resources.
- Nickel-rich Indonesia is the top recipient of Chinese investment this year, emphasizing nickel's importance in electric vehicle batteries.
- These new investments come amid deteriorating relations with the U.S. and its allies.
- The decline in Chinese investment in the West might result in fewer job opportunities in certain countries and a reduced capital pool for entrepreneurs, especially in Silicon Valley.
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| 6 | | Indigenous groups claim they are overlooked in the U.S. immigration debate, even though they face unique challenges such as language barriers and discrimination. Indigenous communities increasingly face displacement due to climate change and opposition to industrial projects on ancestral lands. More: - Indigenous migrants are often forced to leave their homes, not for a better life, but for survival.
- In immigration statistics, Indigenous people are often categorized as Latino or Hispanic, erasing their unique identities.
- U.S. President Joe Biden's administration has introduced policies that could deter migrants and asylum seekers from crossing the southern border.
- Indigenous individuals often face heightened discrimination and danger during their migration.
- Language barriers not only make Indigenous migrants more susceptible to abuse but also complicate their immigration proceedings in the U.S.
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- After missing out on Lionel Messi, Saudi Arabian soccer team Al-Hilal made a record $332M bid for Kylian Mbappe, an offer that could see the French striker join Cristiano Ronaldo in the oil-rich kingdom.
- Republican presidential candidates are supposed to face off in Milwaukee on Aug. 23, but Donald Trump, the field's front-runner, may not attend.
- At least 17 bodies have been recovered after a migrant boat capsized off Senegal's capital city, Dakar.
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