Good morning readers. Karate Kid fans, brace yourselves. Jackie Chan and Ralph Macchio are on a global hunt for the next martial arts prodigy to star in their upcoming Karate Kid movie. The dynamic duo took to YouTube to announce this exciting opportunity, seeking a young star to play Li Fong, a role with no acting experience required. Macchio revives his iconic role from the '84 classic, while Chan reprises his mentor magic from the 2010 remake. It looks like this new chapter in the Karate Kid saga is slated for a Dec. 13, 2024, premiere.

It’d be rude of us not to leave you with an inspiring quote from Mr. Miyagi, so here it is: “You trust the quality of what you know, not quantity.” Which is why you read Pulse of Progress, right? 🥹

Let’s jump into today’s storylines.

In today’s digest:

• Panama's Supreme Court ruling signals major shift

• Headline Hustle: Charlie Munger passes away, Apple to end partnership with Goldman Sachs, Mark Cuban sells stake in the Dallas Mavericks

• Challenging the narrative of social media's mental impact

• Pulse Points: What’s Trending

WORLD

The Cobre Panama controversy

In a move that's shaking up more than just legal papers, the Panama Supreme Court has thrown a curveball at one of the world's largest copper mines, and everyone from environmentalists to economists is watching. The court unanimously branded a law, meant to cement a deal between the government and a Canadian mining giant, as unconstitutional. The result? A seismic shift for Panama's economy and environment.

Panama’s copper mine in the spotlight…again

This isn't the first time the Cobre Panama mine has found itself in hot water. Back in 2018, it faced a similar legal snag. But this time, the stakes are higher. This mine isn't just another hole in the ground; it's a juggernaut driving Panama's GDP, accounting for a hefty slice of its exports and a significant chunk of global copper production. With $10 billion invested and about 40,000 jobs on the line, the economic tremors are real.

But here's the twist: the ruling follows a wave of protests, roadblocks, and general public uproar over issues like corruption and transparency. The people's message? It's time for a change. As the mine shifts into preservation mode, with production dialed down, Panama's economic gears are grinding.

• Estimates suggest the country's losing up to $90 million a day due to the protests.

• It's a high-stakes game, with worries that this could scare off future investors and spark legal backlash against Panama.

• There's a chorus of concern especially with Panama already feeling the pinch from a drought-hit Panama Canal.

Looking ahead…as Panama braces for post-election renegotiations, the saga of the Cobre Panama mine is more than just a legal battle. It's a crossroads where environmental priorities, economic realities, and political decision-making collide, painting a complex picture of a country at a pivotal moment.

Headline Hustle

🙏 Legendary investor Charlie Munger passes away at 99. In a remarkable life that spanned nearly a century, Charlie Munger, the investment guru and Warren Buffett's indispensable ally at Berkshire Hathaway, passed away at 99. A multifaceted genius, Munger's roles ranged from Berkshire's vice chairman to a real estate attorney and philanthropist. Born in Omaha, Munger's journey from a lawyer to an investment magnate, and his enduring partnership with Buffett, marked a formidable duo in business history. His life, characterized by pragmatism, wisdom, and a dash of humor, leaves a lasting legacy in the worlds of finance and beyond.

💳️ Apple looks to end credit card partnership with Goldman Sachs. Apple's bold step to potentially dissolve its credit card and savings account partnership with Goldman Sachs within the next year could shake up the fintech landscape. Launched with fanfare in 2019, this high-profile alliance is now on the brink, as Apple seeks new horizons for its financial services. The strategic pivot highlights the tech giant's drive to innovate within its iPhone ecosystem, even as it navigates the complexities of the financial sector. This move marks a significant shift in Apple's approach, reflecting its relentless pursuit of growth and adaptation in a rapidly evolving digital world.

🏀 Mark Cuban sells majority stake in the Dallas Mavericks to Adelson Family. Mark Cuban is shaking up the sports world by selling a majority stake of the Dallas Mavericks to billionaire Miriam Adelson and her family, key players in the Las Vegas Sands empire. Cuban retains a part of the team and control over basketball operations. This move, funded by Adelson's sale of $2 billion in company stock, marks a bold new direction for the family, known for their casino dominance and hefty political donations. As the fifth richest woman globally, Adelson's venture into sports ownership diverges from her usual focus on politics and addiction medicine, adding a fresh chapter to her diverse portfolio. The deal, still pending league approval, symbolizes a significant crossover of the gaming and sports industries, with potential implications for both sectors.

SOCIAL

Wait, you mean my internet use doesn’t impact my mental health?

In the digital age, where every click, like, and share is under the microscope, the latest report from the Oxford Internet Institute is flipping the script on internet use and mental health. Crunching data from a whopping two million people across 168 countries, the study finds that the internet's impact on our mental well-being might be more of a gentle nudge than a shove.

But before you go posting a celebratory selfie, here's the catch: this finding is at odds with the doom and gloom narrative often spun around social media's effect on our brains. While the Oxford study suggests our global psyche hasn't taken a massive hit from our online habits, recent reports from Meta, leaked by a whistleblower, paint a less than rosy picture. It hinted that Instagram might be chipping away at the self-esteem of one in three teen girls, throwing shade at the Oxford study's sunny conclusions.

Despite the potential negative aspects, social media can also be beneficial.

• The Trevor Project found that 53% of young LGBTQ people of color felt safe and understood on TikTok.

• In certain situations, the ability to connect with individuals who share similar interests from different parts of the world had a positive impact on mental well-being.

Big picture: As the debates continue and policymakers weigh in, the verdict on whether our brains are really at the mercy of our newsfeeds remains up in the air. Until the tech giants unlock their treasure trove of data, we're left to navigate the digital unknown with more questions than answers.

SNIPPETS

Pulse Points

• Starting Friday, Google will implement its plan to delete accounts that have been inactive for at least two years.

• The UK's competition watchdog has determined Adobe's intended $20 billion acquisition of Figma could potentially stifle innovation for software used by the vast majority of U.K. digital designers.

• Amazon Web Services began its AWS re:Invent event in Las Vegas yesterday, featuring a series of fast-paced announcements and the reveal of new projects. Here’s everything they announced.

• OpenAI reportedly does not plan to give board seats to investors like Microsoft, Khosla Ventures, and Thrive Capital, according to a source.

• Uber is now collaborating with London's iconic black cab taxis, transitioning from their previous rivalry for control of the city's streets.

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