How would you like to wear an air conditioned shirt on these scorching summer days?
Sign me up. After a 15 minute scooter ride to work in the morning, I sometimes feel like I need another shower.
If this blazing hot summer (July was the hottest month ever recorded for the entire planet) has you not even wanting to set foot outside, I have some interesting news for you to start off our Friday MoneyWire roundup.
Engadget reported this week that Sony’s First Flight program is working on a wearable “air conditioner” called the Reon Pocket. The Reon sits in a pocket on a t-shirt, and while it doesn’t actually blow cold air on you, it absorbs heat through an electrical current. It also emits heat, so it can be a warming shirt in the winter.
As it currently works, you set the temperature you want through a smartphone app. In the future, First Flight expects to update it to automatically control temperature. The Reon is expected to hit the market next year. (Hopefully I can wait that long.)
This is yet another example of the burgeoning Internet of Things, or IoT, which is expected to result in over 500 billion connected devices by 2030. Spending is estimated to pass $1 trillion by next year.
In order for this to happen, every device will require one specific piece of technology – sensors. Like a temperature sensor in the Reon shirt.
IoT is one of the most valuable technologies – and one of the most promising investment trends – in the world. In fact, the stock I gave away at my 10X Innovation Summit on Wednesday is my favorite small-cap sensor company that has the potential to gain 1,000% or more in the coming years.
If you didn’t get a chance to join me for the summit, you can click here to view it now. I’ve gotten a lot of great feedback on it, and it’s not too late to watch it and find out the name of the stock.
Predicting Kidney Disease with AI
When I talk about the once-in-a-decade investment opportunity that is AI, I often get shrugs.
Although AI is interesting – and the stocks related to it have 10X potential or more – most people don’t see it at work in their lives.
And yet AI is all around us every day, so I like to give examples that show people how much it is already a part of our lives.
Every time you use Google to search, you are using AI.
When your banking app sends you an alert that you have bills due, that is AI.
When you log into LinkedIn to look for a new job and the website has recommendations for you, that is AI.
Our health is among the areas that stands to benefit the most, and this week we learned how AI might be able to identify patients at risk for kidney damage before it happens.
Alphabet’s (GOOGL) research company, DeepMind, built software to predict kidney problems after poring through more than 700,000 electronic health records. The study was done in conjunction with the Department of Veterans’ affairs, which just recently hired its first ever Director of Artificial Intelligence.
AI is a transformative technology. It is extremely powerful software running on extremely powerful computers that are starting to think for themselves.
Thanks to the emerging power of AI, I believe the world of small- and mid-cap software stocks will prove to be a major breeding ground for future 10X stock market winners. I have no doubt some of the elite firms will rise more than 100-fold… just like the software leaders that emerged in the 1990s did.
Get Your Master’s Degree In… Cannabis?
Job creation is one of the most overlooked benefits of marijuana legalization. I came across a study not long ago showing that marijuana could result in over 300,000 new jobs by 2020. A study by the University of Illinois concluded that legalization in that state – which just happened – would create 24,000 new jobs.
Colleges recognize this, too, as some are beginning to offer degree programs in cannabis.
The University of Maryland was the first to announce a master’s program in medical cannabis a little over a month ago. Cornell will offer a cannabis course beginning this fall with plans to launch a master’s program. McGill University in Canada, where marijuana was legalized almost a year ago, will start a graduate program in cannabis production next year.
This is more evidence of legal marijuana’s unstoppable growth. One of my criteria when looking for stocks with 10X potential is that a company must be hunting elephants instead of mice. With the legal marijuana market expected to soar to $66.3 billion by 2025 according Grand View Research, it is definitely “elephant sized.”
And soon your kids or grandkids will be able to get a degree in it.
Have a great weekend. And stay cool, even without an air conditioned shirt.
P.S. If you missed our first-ever 10X Innovation Summit, I’ve got great news. You can still watch the lively conversation as I walk through my 10X strategy step by step. You can also learn the names of several 10X stock recommendations I gave away for FREE. Watch it now by going here.
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