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Google unveiled the next big thing for AI-designed drugs...

May 09, 2024

PRESENTED BY

Good morning. Everyone is returning to the office these days—even The Office.

Yesterday, Peacock announced it was picking up a new iteration of The Office that will be set in the same universe and filmed in a mockumentary style similar to the Steve Carrell classic. Instead of focusing on a struggling paper company in Scranton, V2 of The Office will explore the workplace dynamics of “a dying historic Midwestern newspaper and the publisher trying to revive it with volunteer reporters.”

*Stares blankly at camera*

—Holly Van Leuven, Cassandra Cassidy, Matty Merritt, Abby Rubenstein, Neal Freyman

MARKETS

Nasdaq

16,302.76

-0.18%

S&P

5,187.67

-0.00%

Dow

39,056.39

+0.44%

10-Year

4.492%

+2.9 bps

Bitcoin

$61,537.25

-1.26%

Shopify

$62.73

-18.59%

Data is provided by

*Stock data as of market close, cryptocurrency data as of 3:00am ET. Here's what these numbers mean.

Markets: Stocks were mixed yesterday, but nothing could stop the Dow, which notched its sixth straight trading day on the rise. Shopify’s value plunged by nearly $20 billion after the online payments company released a gloomy forecast for this quarter. It’s the latest pandemic darling to stumble: According to the FT, the firms that skyrocketed during lockdowns have lost a collective $1.5 trillion in value since the end of 2020.

Markets Sponsored by GolfSuites

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BIOTECH

The next drug you take may be designed by AI

A prescription drug bottle filled with 0s and 1s to represent binary code.

Francis Scialabba

If humankind ever gets drugs that cure cancer, diabetes, and heart disease, we might have AI to thank. Because each attempt to make a drug requires vast amounts of data, money, and experimentation, biotech companies have bet big on machine-learning models to develop brand-new ones and help match patients to the right medications for their biochemistry.

Google raised the stakes yesterday when its DeepMind AI research laboratory, in partnership with Isomorphic Labs, released AlphaFold 3, an AI model that “predicts the structure and interactions of all of life’s molecules.”

Why is that a big deal? Google is hoping to improve on the current drug discovery process, which has a 90% failure rate, largely because scientists have a limited map of all the tiny components of the human body and the ways diseases interact with them.

Explaining the potential of AI pharma development generally, the CEO of a drug startup told the MIT Technology Review, “All of Big Pharma taken together…has an ingredient list of at most 10 million molecules to build drugs from.” But, he explained, the number of molecules that exist is thought to be a decillion, a number with 33 zeros rather than 7. And that’s where the computational power of machine-learning models comes in.
If the AI can predict how a proposed drug will affect the body, it can find promising candidates more quickly.

AlphaFold 3 will allow researchers to test more hypotheses before committing to the slow and expensive testing protocols that still need to be carried out IRL before a new drug gets approved. Access to the tool will be free for noncommercial use.

What about AI hallucinations? What’s bad for your report on Richard III may be great for drug R&D. Scientists have said that AI’s norm-shattering conjectures are sometimes fruitful.

The fine print: While independent scientists hailed AlphaFold 3 as a significant step forward, the system is “not good at predicting how proteins can change shape in living systems in response to their environment,” the Guardian said, which could impact drug efficacy in the real world.—HVL

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WORLD

Tour de headlines

Ex FTX CEO SBF testifying to Congress in 2021

SBF in the simpler days of 2021. C-SPAN via giphy.

FTX’s customers are getting their money back—plus interest. This probably isn’t an outcome anyone would have bet on when the crypto exchange imploded in 2022 (except maybe FTX’s notoriously risk-embracing founder, Sam Bankman-Fried), but attorneys for the bankrupt company say they’ve found enough cash to pay back its customers with interest. The recovery of the crypto market plus the ability to sell assets like a stake in AI company Anthropic will give FTX as much as $16.3 billion to distribute, the lawyers said. The plan still has to be okayed by a judge, but current CEO John Ray, who took over FTX after its collapse, noted, “In any bankruptcy, this is just an unbelievable result.” However, there won’t be money left for the investors that backed FTX.

Uber profits hit the brakes. Last year, Uber boasted its first full-year profit since going public. But yesterday, the company reported a surprise loss for the first quarter of 2024, dashing investors’ hopes for steady profits and sending its stock way down. The disappointing numbers suggested Uber’s growth has slowed and reflected the toll that constant legal battles with regulators are taking on the company’s finances. Meanwhile, Uber’s smaller rival Lyft appears to have its foot on the gas pedal. It posted better-than-expected quarterly results on Tuesday and saw a stock bump yesterday.

Microsoft is investing $3.3 billion in a Wisconsin AI hub. The software giant plans to put the cash toward creating an AI data center. President Biden was on hand in Wisconsin yesterday to help announce the news—and not just to tout a big investment that’s expected to create jobs. The president also likely wanted to tweak his Republican rival Donald Trump, who during his own presidency announced a $10 billion investment by Foxconn to create a factory on the same land, a plan that never came to fruition.

FINANCE

Trial begins for alleged Wall Street schemer

Spencer Platt/Getty Images

The trial of the cryptic investor who allegedly masterminded one of Wall Street’s strangest and most far-reaching white-collar crimes began yesterday, three years after his firm, Archegos, imploded in a matter of days.

Bill Hwang, a Korean pastor’s son who had an epic Wall Street rise and an equally epic fall, now faces 11 counts of racketeering, conspiracy, and fraud relating to an alleged “pump-and-brag” scheme in which Hwang—through Archegos, his family office—inflated the value of stocks using billions of dollars borrowed from banks.

At one point, Archegos’s stock portfolio was worth over $100 billion. But when the firm collapsed over a little more than a week in 2021, it wiped out all of that value—including over half the value of media conglomerate Viacom.
Credit Suisse also took a $5.5 billion hit when Archegos went belly-up, contributing to the bank’s 2023 demise.

Why Wall Street is watching: 1) Hwang got his start in the business working for a legendary hedge fund manager 2) the outcome could impact how family office funds are regulated and 3) Hwang’s strategy wasn’t profitable. Even the judge presiding over the case admitted to being confused about what Hwang was trying to do, and if prosecutors can’t explain it, they might have a hard time convincing a jury he acted criminally.—CC

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FOOD

German political party wants a price cap on...kebabs

Worker shaving meat of vertical rotisserie.

Adam Berry/Getty Images

In a move that feels like it was pitched by an angry middle-school student council, a German political party said it would propose a government price cap on doner kebabs, a popular street food in the country.

Around $7.5 billion worth of doner kebabs—a Turkish dish that involves tossing some shaved meat + fixins on a flatbread—are sold every year in Germany. But young people and some politicians are complaining that the formerly cheap meal is now almost out of reach for ordinary Germans.

Some businesses have raised kebab prices from ~$4 two years ago to nearly $11, according to Germany’s left-wing Die Linke party.
The party wants a cap of $5.30 per sandwich and for the German government to subsidize the popular dish, proposing that every household get a voucher for their daily doner.

Foodflation: While this might seem like a political stunt, people get riled up about about the price of their favorite noshes inflating. Last year, the Italian government called an emergency meeting to discuss pasta prices rising over 16% two months in a row. French President Emmanuel Macron has made statements about shielding the baguette from rising energy costs. And US East Coasters were not happy when they saw the exorbitant price tag on a Double Quarter Pounder at a McD’s in Connecticut.—MM

GRAB BAG

Key performance indicators

Taylor Swift performing during the Eras Tour

Don Arnold, TAS24/Getty Images

Stat: There’s one major attraction Americans are flocking to Europe to see: Taylor Swift. The European leg of her Eras Tours kicks off today in Paris, and her concerts will bring five times more US luxury travelers to the city than the upcoming Olympics, high-end travel agency Embark Beyond told Bloomberg. And it’s not just the richest Swifties willing to use their fortnight’s vacation to catch the show: The Associated Press reports that some American fans are following the singer to Europe after realizing that stricter restrictions on ticket prices made it cheaper to see her there. In Paris, 20% of tickets were snapped up by Americans, and when Swift performs in Stockholm, 10,000 Americans are expected to attend.

Quote: “[It] was caused by a worm that got into my brain and ate a portion of it and then died.”

Apologies for hitting you with that mental image while you’re trying to enjoy your morning coffee, but don’t blame us—blame the New York Times, which dug up a 2012 deposition in which Robert F. Kennedy Jr. said a doctor believed that’s what happened to him. Kennedy, now an independent candidate for president despite the objections of some members of his famous family, recounted in his deposition that a doctor told him that a dark spot on scans of his brain was a deceased parasite. In the deposition, Kennedy said the incident caused cognitive problems, but he told the NYT he has fully recovered and there are no aftereffects.

Read: Your phone can tell when you’re depressed. (Vox)

NEWS

What else is brewing

President Biden said the US will not supply Israel with offensive weapons if it launches a major assault on Rafah, a city in southern Gaza to which many Palestinians have fled during the war, but would continue to send defensive weapons.
Disney and Warner Bros. Discovery plan to offer a bundle of their streaming services: Hulu, Disney+, and Max. It's like cable, but you can watch it on a way smaller screen.
A Georgia appeals court agreed to consider Donald Trump’s attempt to get Fulton County District Attorney Fani Willis tossed from the election interference case against him.
Shohei Ohtani’s former interpreter will plead guilty to bank and tax fraud in a case stemming from his sports betting scandal and will be required to repay the Dodgers star nearly $17 million, prosecutors say.
Neuralink said a part of its first implant in a human brain has malfunctioned, though the patient is still able to use the brain-computer interface system.
House Speaker Mike Johnson survived Marjorie Taylor Greene’s effort to oust him, in part by getting help from Democrats.
A record-breaking 30% of the world’s electricity was produced by renewables last year as wind and solar power got more popular.

RECS

Royally concerned: Why brands that use the UK royal family’s coat of arms are sweating right now.

Watch: Everything you ever wanted to know about tomatoes.

Trade: Level up your closet with an online community clothing swap.

Practically twins: Find out what food product was born the same year as you.

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GAMES

The puzzle section

Brew Mini: Slither your way through today’s Mini here.

Three Headlines and a Lie

We love a theme, and Tesla’s Cybertruck release has been plagued with so many mishaps that we rounded up three real headlines about it and one that’s faker than your friend who keeps saying his is backordered. Can you spot the odd one out?

Texas Cybertruck parade canceled after no one signs up
'One folly to the next': Cybertruck blunders mocked by locals on wealthy island
Cybertruck owner breaks his finger trying to show vehicle is safe
Sharp edge slashes Cybertruck owners leg open, but he still loves the truck

ANSWER

We made up the one about the parade.

Word of the Day

Today’s Word of the Day is: fortnight, meaning “two weeks.” Thanks to Alison Barfoot from Uganda and several other readers for the timely suggestion. Submit another Word of the Day here.

✷ A Note From GolfSuites

This is a paid advertisement for GolfSuites 1, Inc.’s Regulation A offering. Please read the offering circular at invest.golfsuites.com.

✢ A Note From SmartAsset

1. The Journal of Retirement, winter 2020. The projections or other information regarding the likelihood of various investment outcomes are hypothetical in nature, do not reflect actual investment results, and are not guarantees of your future results. Please follow the link to see the methodologies employed in the The Journal of Retirement study.

✳︎ A Note From EnergyX

This is a paid advertisement for EnergyX’s Regulation A+ offering. Please read the offering circular at invest.energyx.com/.

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Google unveiled the next big thing for AI-designed drugs...
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May 09, 2024
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<p style="line-height:22px;margin-top:0;margin-bottom:15px"><strong style="color:#000">Good morning.</strong> Everyone is returning to the office these days—even <em>The Office</em>.</p>
<p style="line-height:22px;margin-top:0;margin-bottom:15px">Yesterday, Peacock announced it was picking up a new iteration of <em>The Office </em>that will be set in the same universe and filmed in a mockumentary style similar to the Steve Carrell classic. Instead of focusing on a struggling paper company in Scranton, V2 of<em> The Office</em> will explore the workplace dynamics of “a dying historic Midwestern newspaper and the publisher trying to revive it with volunteer reporters.”</p>
<p style="line-height:22px;margin-top:0;margin-bottom:15px">*Stares blankly at camera*</p>
<p style="line-height:22px;margin-top:0;margin-bottom:15px"><em>—Holly Van Leuven, Cassandra Cassidy, Matty Merritt, Abby Rubenstein, Neal Freyman</em></p>
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MARKETS
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<td class="markets-value-cell" valign="middle" style="width:34%">
<p class="pad0 mar0 markets-table-text" style="line-height:22px;margin-top:0;margin-bottom:15px;padding:0;margin:0;font-size:16px;white-space: nowrap; font-weight: bold; vertical-align: middle; line-height: 1em; text-align: left;">5,187.67</p>
</td>
<td class="markets-bubble-cell" valign="middle" style="width:20%;padding-top: 8px; padding-bottom: 8px;">
<table class="markets-bubble" role="presentation" cellpadding="0" cellspacing="0" border="0" style="width:70%;border-collapse:collapse; margin: 0 auto;">
<tr>
<td valign="middle" style="padding-left: 8px; padding-right: 8px; padding-top: 10px; padding-bottom: 10px; border-radius: 8px; background-color: #FFB3B3; background-color: rgba(255, 3, 3, 0.3);">
<p class="pad0 mar0 markets-table-text" style="line-height:22px;margin-top:0;margin-bottom:15px;padding:0;margin:0;font-size:16px;white-space: nowrap; font-weight: bold; vertical-align: middle; line-height: 1em; text-align: center;">-0.00%</p>
</td>
</tr>
</table>
</td>
</tr>
</table>
</td>
</tr>
<!-- END S&P -->
<!-- Dow -->
<tr>
<td class="pads10 pads6m lastline" style="border-bottom:1px solid #e6e6e6;padding-bottom:0;text-align: center; border-top: 1px solid #e6e6e6; mso-padding-alt: 0 20px 0 20px;">
<table role="presentation" width="100%" cellpadding="0" cellspacing="0" border="0" style="border-collapse:collapse;">
<tr>
<td class="markets-arrow-cell" align="center" valign="middle" style="width:12%;text-align: center; line-height: 1em;">
<img class="markets-arrow" width="20" src="https://cdn.sanity.io/images/bl383u0v/production/6097ec1c26b17401a61bfbfe4440c75ebfea1886-44x39.png" alt="" style="width:22%">
</td>
<td class="markets-ticker-cell" valign="middle" style="width:34%">
<p class="pad0 mar0 markets-table-text" style="line-height:22px;margin-top:0;margin-bottom:15px;padding:0;margin:0;font-size:16px; white-space: nowrap; font-weight: bold; vertical-align: middle; line-height: 1em; text-align: left;">Dow</p>
</td>
<td class="markets-value-cell" valign="middle" style="width:34%">
<p class="pad0 mar0 markets-table-text" style="line-height:22px;margin-top:0;margin-bottom:15px;padding:0;margin:0;font-size:16px;white-space: nowrap; font-weight: bold; vertical-align: middle; line-height: 1em; text-align: left;">39,056.39</p>
</td>
<td class="markets-bubble-cell" valign="middle" style="width:20%;padding-top: 8px; padding-bottom: 8px;">
<table class="markets-bubble" role="presentation" cellpadding="0" cellspacing="0" border="0" style="width:70%;border-collapse:collapse; margin: 0 auto;">
<tr>
<td valign="middle" style="padding-left: 8px; padding-right: 8px; padding-top: 10px; padding-bottom: 10px; border-radius: 8px; background-color: #BEF2BA; background-color: rgba(40, 211, 26, 0.3);">
<p class="pad0 mar0 markets-table-text" style="line-height:22px;margin-top:0;margin-bottom:15px;padding:0;margin:0;font-size:16px;white-space: nowrap; font-weight: bold; vertical-align: middle; line-height: 1em; text-align: center;">+0.44%</p>
</td>
</tr>
</table>
</td>
</tr>
</table>
</td>
</tr>
<!-- END Dow -->
<!-- 10-Year -->
<tr>
<td class="pads10 pads6m lastline" style="border-bottom:1px solid #e6e6e6;padding-bottom:0;text-align: center; border-top: 1px solid #e6e6e6; mso-padding-alt: 0 20px 0 20px;">
<table role="presentation" width="100%" cellpadding="0" cellspacing="0" border="0" style="border-collapse:collapse;">
<tr>
<td class="markets-arrow-cell" align="center" valign="middle" style="width:12%;text-align: center; line-height: 1em;">
<img class="markets-arrow" width="20" src="https://cdn.sanity.io/images/bl383u0v/production/6097ec1c26b17401a61bfbfe4440c75ebfea1886-44x39.png" alt="" style="width:22%">
</td>
<td class="markets-ticker-cell" valign="middle" style="width:34%">
<p class="pad0 mar0 markets-table-text" style="line-height:22px;margin-top:0;margin-bottom:15px;padding:0;margin:0;font-size:16px; white-space: nowrap; font-weight: bold; vertical-align: middle; line-height: 1em; text-align: left;">10-Year</p>
</td>
<td class="markets-value-cell" valign="middle" style="width:34%">
<p class="pad0 mar0 markets-table-text" style="line-height:22px;margin-top:0;margin-bottom:15px;padding:0;margin:0;font-size:16px;white-space: nowrap; font-weight: bold; vertical-align: middle; line-height: 1em; text-align: left;">4.492%</p>
</td>
<td class="markets-bubble-cell" valign="middle" style="width:20%;padding-top: 8px; padding-bottom: 8px;">
<table class="markets-bubble" role="presentation" cellpadding="0" cellspacing="0" border="0" style="width:70%;border-collapse:collapse; margin: 0 auto;">
<tr>
<td valign="middle" style="padding-left: 8px; padding-right: 8px; padding-top: 10px; padding-bottom: 10px; border-radius: 8px; background-color: #BEF2BA; background-color: rgba(40, 211, 26, 0.3);">
<p class="pad0 mar0 markets-table-text" style="line-height:22px;margin-top:0;margin-bottom:15px;padding:0;margin:0;font-size:16px;white-space: nowrap; font-weight: bold; vertical-align: middle; line-height: 1em; text-align: center;">+2.9 bps</p>
</td>
</tr>
</table>
</td>
</tr>
</table>
</td>
</tr>
<!-- END 10-Year -->
<!-- Bitcoin -->
<tr>
<td class="pads10 pads6m lastline" style="border-bottom:1px solid #e6e6e6;padding-bottom:0;text-align: center; border-top: 1px solid #e6e6e6; mso-padding-alt: 0 20px 0 20px;">
<table role="presentation" width="100%" cellpadding="0" cellspacing="0" border="0" style="border-collapse:collapse;">
<tr>
<td class="markets-arrow-cell" align="center" valign="middle" style="width:12%;text-align: center; line-height: 1em;">
<img class="markets-arrow" width="20" src="https://cdn.sanity.io/images/bl383u0v/production/e4a85d043f857cc8adaca9d546c099f6d7db37ba-44x39.png" alt="" style="width:22%">
</td>
<td class="markets-ticker-cell" valign="middle" style="width:34%">
<p class="pad0 mar0 markets-table-text" style="line-height:22px;margin-top:0;margin-bottom:15px;padding:0;margin:0;font-size:16px; white-space: nowrap; font-weight: bold; vertical-align: middle; line-height: 1em; text-align: left;">Bitcoin</p>
</td>
<td class="markets-value-cell" valign="middle" style="width:34%">
<p class="pad0 mar0 markets-table-text" style="line-height:22px;margin-top:0;margin-bottom:15px;padding:0;margin:0;font-size:16px;white-space: nowrap; font-weight: bold; vertical-align: middle; line-height: 1em; text-align: left;">$61,537.25</p>
</td>
<td class="markets-bubble-cell" valign="middle" style="width:20%;padding-top: 8px; padding-bottom: 8px;">
<table class="markets-bubble" role="presentation" cellpadding="0" cellspacing="0" border="0" style="width:70%;border-collapse:collapse; margin: 0 auto;">
<tr>
<td valign="middle" style="padding-left: 8px; padding-right: 8px; padding-top: 10px; padding-bottom: 10px; border-radius: 8px; background-color: #FFB3B3; background-color: rgba(255, 3, 3, 0.3);">
<p class="pad0 mar0 markets-table-text" style="line-height:22px;margin-top:0;margin-bottom:15px;padding:0;margin:0;font-size:16px;white-space: nowrap; font-weight: bold; vertical-align: middle; line-height: 1em; text-align: center;">-1.26%</p>
</td>
</tr>
</table>
</td>
</tr>
</table>
</td>
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<!-- END Bitcoin -->
<!-- Shopify -->
<tr>
<td class="pads10 pads6m lastline" style="border-bottom:1px solid #e6e6e6;padding-bottom:0;text-align: center; border-top: 1px solid #e6e6e6; mso-padding-alt: 0 20px 0 20px;">
<table role="presentation" width="100%" cellpadding="0" cellspacing="0" border="0" style="border-collapse:collapse;">
<tr>
<td class="markets-arrow-cell" align="center" valign="middle" style="width:12%;text-align: center; line-height: 1em;">
<img class="markets-arrow" width="20" src="https://cdn.sanity.io/images/bl383u0v/production/e4a85d043f857cc8adaca9d546c099f6d7db37ba-44x39.png" alt="" style="width:22%">
</td>
<td class="markets-ticker-cell" valign="middle" style="width:34%">
<p class="pad0 mar0 markets-table-text" style="line-height:22px;margin-top:0;margin-bottom:15px;padding:0;margin:0;font-size:16px; white-space: nowrap; font-weight: bold; vertical-align: middle; line-height: 1em; text-align: left;">Shopify</p>
</td>
<td class="markets-value-cell" valign="middle" style="width:34%">
<p class="pad0 mar0 markets-table-text" style="line-height:22px;margin-top:0;margin-bottom:15px;padding:0;margin:0;font-size:16px;white-space: nowrap; font-weight: bold; vertical-align: middle; line-height: 1em; text-align: left;">$62.73</p>
</td>
<td class="markets-bubble-cell" valign="middle" style="width:20%;padding-top: 8px; padding-bottom: 8px;">
<table class="markets-bubble" role="presentation" cellpadding="0" cellspacing="0" border="0" style="width:70%;border-collapse:collapse; margin: 0 auto;">
<tr>
<td valign="middle" style="padding-left: 8px; padding-right: 8px; padding-top: 10px; padding-bottom: 10px; border-radius: 8px; background-color: #FFB3B3; background-color: rgba(255, 3, 3, 0.3);">
<p class="pad0 mar0 markets-table-text" style="line-height:22px;margin-top:0;margin-bottom:15px;padding:0;margin:0;font-size:16px;white-space: nowrap; font-weight: bold; vertical-align: middle; line-height: 1em; text-align: center;">-18.59%</p>
</td>
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</table>
</td>
</tr>
</table>
</td>
</tr>
<!-- END Shopify -->
<!-- START REGULAR TEXT -->
<tr>
<td style="padding: 3px 15px 10px 15px">
<table cellpadding="0" cellspacing="0" border="0" style="border-collapse:collapse; font-size:13px;">
<tr>
<td style="padding-right:4px;">Data is provided by</td>
<td style="margin: 0; padding-right:5px;">
<a target="_blank" style="display: block;" href="https://finance.yahoo.com/" class=""><img height="16px" style="height: 16px; display:inline; vertical-align:middle" src="https://cdn.sanity.io/images/bl383u0v/production/61a0dac0b53d6766459afdca784ae8fe604f17ed-720x102.png?h=32&amp;q=100&amp;auto=format"></a>
</td>
</tr>
</table>
<p style="line-height:22px;margin-top:0;margin-bottom:15px;padding: 0; margin: 0; text-align: left; font-size: 13px;">
*Stock data as of market close, cryptocurrency data as of  3:00am ET.
<a target="_blank" class="link-sm" rel="noopener" href="https://www.morningbrew.com/daily/stories/2020/10/19/markets-101-read-stock-indexes-securities" style="border-bottom:1px solid #1c7ff2;text-decoration:none;color:#333">Here's what these numbers mean.</a>
</p>
</td>
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<!-- END REGULAR TEXT -->
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<td style="padding: 0px 15px; mso-padding-alt: 0px 15px 15px 15px;">
<ul style="margin-top:0;padding-left:30px"><li style="line-height:22px;margin-bottom:10px">
<span><strong style="color:#000">Markets:</strong></span><span> Stocks were mixed yesterday, but nothing could stop the Dow, which notched its </span><span><a href="https://finance.yahoo.com/news/stock-market-today-dow-extends-winning-streak-to-6-days-121113679.html" class="link" target="_blank" style="border-bottom:2px solid #1c7ff2;text-decoration:none;color:#333">sixth straight</a></span><span> trading day on the rise. Shopify’s value plunged by nearly $20 billion after the online payments company released a gloomy forecast for this quarter. It’s the latest pandemic darling to stumble: According to the FT, the firms that skyrocketed during lockdowns have </span><span><a href="https://www.ft.com/content/8faaafb4-e170-48ce-8957-9f93c0f41c4a" class="link" target="_blank" style="border-bottom:2px solid #1c7ff2;text-decoration:none;color:#333">lost</a></span><span> a collective $1.5 trillion in value since the end of 2020.</span>
</li></ul>
<div style="display:none;"> </div>
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<td style="padding: 0px 20px; mso-padding-alt: 0px 20px 15px 20px;">
<div style="line-height:22px;margin-top:0;margin-bottom:15px;padding:15px;background-color:#E8E8E8">
<p style="line-height:22px;margin-top:0;margin-bottom:15px;margin-bottom:0px;">
<strong style="color:#000;color:#000;font-size:16px;color:#1c7ff2;">
Markets Sponsored by GolfSuites
</strong>
</p>
<p style="line-height:22px;margin-top:0;margin-bottom:15px"><strong style="color:#000">The sweetest swing: </strong>Join golf entertainment’s revolution alongside an OG <em>Shark Tank</em> investor. GolfSuites aims to add 3x+ locations by 2026. <a href="https://invest.golfsuites.com/" class="link" target="_blank" style="border-bottom:2px solid #1c7ff2;text-decoration:none;color:#333">Invest before their share price changes tonight</a>.</p>
</div>
</td>
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</th>
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<!-- ARTICLE -->
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<h3 style="font-family:Helvetica, Arial, sans-serif;font-size:16px;color:#1c7ff2;font-weight:700;margin-top:0;margin-bottom:0">
BIOTECH
</h3>
<h1 style="font-family:Helvetica, Arial, sans-serif;font-size:24px;color:#333;font-weight:700;margin-bottom:0;line-height:26px;margin-top:8px">
<a target="_blank" style="color:#000000!important;text-decoration:none;border-bottom:none!important;" href="https://www.morningbrew.com/daily/stories/2024/05/09/ai-is-designing-drugs"><font color="#000">
The next drug you take may be designed by AI<br>
</font>
</a>
</h1>
</td>
</tr>
</table>
<a style="text-decoration:none;border:none;" target="_blank" href="https://www.morningbrew.com/daily/stories/2024/05/09/ai-is-designing-drugs"><img alt="A prescription drug bottle filled with 0s and 1s to represent binary code. " style="display: block; width: 100%; max-width: 670px;" width="670" class="story-header-image" src="https://cdn.sanity.io/images/bl383u0v/production/7ce0d6b1788f5a2c6908893b2234b6be3fcd6fad-1500x1000.jpg?w=668&amp;q=70&amp;auto=format">
</a><span class="source" style="display:inline-block;padding-left:10px;margin-top:5px;margin-bottom:0px;line-height:14px"><small><em>Francis Scialabba</em></small></span>
<table border="0" cellpadding="0" cellspacing="0" style="border-collapse: collapse;" width="100%">
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<td class="story-content" style="padding:15px">
<p style="line-height:22px;margin-top:0;margin-bottom:15px">If humankind ever gets drugs that cure cancer, diabetes, and heart disease, we might have AI to thank. Because each attempt to make a drug requires vast amounts of data, money, and experimentation, biotech companies have bet big on machine-learning models to develop brand-new ones and help match patients to the right medications for their biochemistry.</p>
<p style="line-height:22px;margin-top:0;margin-bottom:15px">Google raised the stakes yesterday when its DeepMind AI research laboratory, in partnership with Isomorphic Labs, <a href="https://www.reuters.com/technology/google-deepmind-unveils-next-generation-drug-discovery-ai-model-2024-05-08/" class="link" target="_blank" style="border-bottom:2px solid #1c7ff2;text-decoration:none;color:#333">released AlphaFold 3</a>, an AI model that “predicts the structure and interactions of all of life’s molecules.”</p>
<p style="line-height:22px;margin-top:0;margin-bottom:15px"><strong style="color:#000">Why is that a big deal? </strong>Google is hoping to improve on the current drug discovery process, which has a 90% failure rate, largely because scientists have a limited map of all the tiny components of the human body and the ways diseases interact with them.</p>
<ul style="margin-top:0;padding-left:30px">
<li style="line-height:22px;margin-bottom:10px">
<span>Explaining the potential of AI pharma development generally, the CEO of a drug startup told the </span><span><a href="https://www.technologyreview.com/2023/02/15/1067904/ai-automation-drug-development/" class="link" target="_blank" style="border-bottom:2px solid #1c7ff2;text-decoration:none;color:#333">MIT Technology Review</a></span><span>, “All of Big Pharma taken together…has an ingredient list of at most 10 million molecules to build drugs from.” But, he explained, the number of molecules that exist is thought to be a decillion, a number with 33 zeros rather than 7. And that’s where the computational power of machine-learning models comes in.</span>
</li>
<li style="line-height:22px;margin-bottom:10px"><span>If the AI can predict how a proposed drug will affect the body, it can find promising candidates more quickly.</span></li>
</ul>
<p style="line-height:22px;margin-top:0;margin-bottom:15px">AlphaFold 3 will allow researchers to test more hypotheses before committing to the slow and expensive testing protocols that still need to be carried out IRL before a new drug gets approved. Access to the tool will be free for noncommercial use.</p>
<p style="line-height:22px;margin-top:0;margin-bottom:15px"><strong style="color:#000">What about AI hallucinations? </strong>What’s bad for your report on <em>Richard III</em> may be great for drug R&amp;D. Scientists have said that AI’s <a href="https://www.cnbc.com/2024/05/05/within-a-few-years-generative-ai-will-design-new-drugs-on-its-own.html" class="link" target="_blank" style="border-bottom:2px solid #1c7ff2;text-decoration:none;color:#333">norm-shattering conjectures</a> are sometimes fruitful.</p>
<p style="line-height:22px;margin-top:0;margin-bottom:15px"><strong style="color:#000">The fine print: </strong>While independent scientists hailed AlphaFold 3 as a significant step forward, the system is “not good at predicting how proteins can change shape in living systems in response to their environment,” the Guardian said, which could impact drug efficacy in the real world.—<em>HVL</em></p>
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PRESENTED BY SMARTASSET
</h3>
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<a target="_blank" style="color:#000000!important;text-decoration:none;border-bottom:none!important;" href="https://smartasset.com/retirement/find-a-financial-planner"><font color="#000">
<strong>Startup disrupting the retirement industry</strong>
</font>
</a>
</h1>
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<a style="text-decoration:none;border:none;" target="_blank" href="https://smartasset.com/retirement/find-a-financial-planner"><img alt="SmartAsset" style="display: block; width: 100%; max-width: 670px;" width="670" class="story-header-image" src="https://cdn.sanity.io/images/bl383u0v/production/b1f4b4fdc0e6497d865933170aaf6cb1728fa002-1000x750.png?w=668&amp;q=90&amp;auto=format">
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<p style="line-height:22px;margin-top:0;margin-bottom:15px">This Princeton grad’s startup raised $161m to <a href="https://articles.smartasset.com/disrupt/ux/disrupt.php" class="link" target="_blank" style="border-bottom:2px solid #1c7ff2;text-decoration:none;color:#333">help people plan for retirement</a>.</p>
<p style="line-height:22px;margin-top:0;margin-bottom:15px"></p>
<p style="line-height:22px;margin-top:0;margin-bottom:15px">If you’re one of the whopping 110m Americans over age 50—or a wise millennial planning ahead—SmartAsset’s no-cost tool makes it easy to find vetted financial advisors who serve your area. Research suggests that people who work with a financial advisor could end up with 15% more money to spend in retirement.¹</p>
<p style="line-height:22px;margin-top:0;margin-bottom:15px"></p>
<p style="line-height:22px;margin-top:0;margin-bottom:15px">Ready to kick-start your retirement plans? Try SmartAsset’s <a href="https://smartasset.com/retirement/find-a-financial-planner" class="link" target="_blank" style="border-bottom:2px solid #1c7ff2;text-decoration:none;color:#333">no-cost tool</a> to get matched with up to three financial advisors serving your area, each legally bound to work in your best interests. It’s never too late to work toward financial freedom.</p>
<p style="line-height:22px;margin-top:0;margin-bottom:15px"></p>
<p style="line-height:22px;margin-top:0;margin-bottom:15px"><a href="https://smartasset.com/retirement/find-a-financial-planner" class="link" target="_blank" style="border-bottom:2px solid #1c7ff2;text-decoration:none;color:#333">Get your financial advisor matches today</a>.</p>
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WORLD
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Tour de headlines
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<span class="source" style="display:inline-block;padding-left:10px;margin-top:5px;margin-bottom:0px;line-height:14px"><small><em>SBF in the simpler days of 2021. C-SPAN via giphy.</em></small></span>
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<p style="line-height:22px;margin-top:0;margin-bottom:15px"><img src="https://em-content.zobj.net/thumbs/120/apple/237/money-bag_1f4b0.png" width="18" style="max-width:18px" alt=""> <strong style="color:#000">FTX’s customers are getting their money back—plus interest. </strong>This probably isn’t an outcome anyone would have bet on when the crypto exchange imploded in 2022 (except maybe FTX’s notoriously risk-embracing founder, Sam Bankman-Fried), but attorneys for the bankrupt company say they’ve found enough cash to <a href="https://www.cnn.com/2024/05/08/business/ftx-bankruptcy-plan-repay-creditors/index.html" class="link" target="_blank" style="border-bottom:2px solid #1c7ff2;text-decoration:none;color:#333">pay back</a> its customers with interest. The recovery of the crypto market plus the ability to sell assets like a stake in AI company Anthropic will give FTX as much as $16.3 billion to distribute, the lawyers said. The plan still has to be okayed by a judge, but current CEO John Ray, who took over FTX after its collapse, noted, “In any bankruptcy, this is just an unbelievable result.” However, there won’t be money left for the investors that backed FTX.</p>
<p style="line-height:22px;margin-top:0;margin-bottom:15px"><img src="https://em-content.zobj.net/thumbs/120/apple/237/oncoming-automobile_1f698.png" width="18" style="max-width:18px" alt=""> <strong style="color:#000">Uber profits hit the brakes. </strong>Last year, Uber boasted its first full-year profit since going public. But yesterday, the company reported a <a href="https://www.theverge.com/2024/5/8/24151901/uber-q1-2024-earnings-net-loss-profit-settlement-drivers" class="link" target="_blank" style="border-bottom:2px solid #1c7ff2;text-decoration:none;color:#333">surprise loss</a> for the first quarter of 2024, dashing investors’ hopes for steady profits and sending its stock way down. The disappointing numbers suggested Uber’s growth has slowed and reflected the toll that constant legal battles with regulators are taking on the company’s finances. Meanwhile, Uber’s smaller rival Lyft appears to have its foot on the gas pedal. It posted better-than-expected quarterly results on Tuesday and saw a stock bump yesterday.</p>
<p style="line-height:22px;margin-top:0;margin-bottom:15px"><img src="https://em-content.zobj.net/thumbs/120/apple/237/desktop-computer_1f5a5.png" width="18" style="max-width:18px" alt=""> <strong style="color:#000">Microsoft is investing $3.3 billion in a Wisconsin AI hub. </strong>The software giant plans to put the cash toward creating an <a href="https://www.cnn.com/2024/05/08/tech/microsoft-ai-wisconsin/index.html" class="link" target="_blank" style="border-bottom:2px solid #1c7ff2;text-decoration:none;color:#333">AI data center</a>. President Biden was on hand in Wisconsin yesterday to help announce the news—and not just to tout a big investment that’s expected to create jobs. The president also likely wanted to tweak his Republican rival Donald Trump, who during his own presidency announced a $10 billion investment by Foxconn to create a factory on the same land, a plan that never came to fruition.</p>
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FINANCE
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<a target="_blank" style="color:#000000!important;text-decoration:none;border-bottom:none!important;" href="https://www.morningbrew.com/daily/stories/2024/05/09/trial-begins-for-alleged-wall-street-schemer"><font color="#000">
Trial begins for alleged Wall Street schemer
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<a style="text-decoration:none;border:none;" target="_blank" href="https://www.morningbrew.com/daily/stories/2024/05/09/trial-begins-for-alleged-wall-street-schemer"><img alt="Bill Hwang" style="display: block; width: 100%; max-width: 670px;" width="670" class="story-header-image" src="https://cdn.sanity.io/images/bl383u0v/production/48d6c304dcaf240f3d62506096a3026020b1e8d7-1500x1000.jpg?w=668&amp;q=70&amp;auto=format">
</a><span class="source" style="display:inline-block;padding-left:10px;margin-top:5px;margin-bottom:0px;line-height:14px"><small><em>Spencer Platt/Getty Images</em></small></span>
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<p style="line-height:22px;margin-top:0;margin-bottom:15px">The trial of the cryptic investor who allegedly masterminded one of Wall Street’s strangest and most far-reaching white-collar crimes <a href="https://www.cnn.com/2024/05/07/business/bill-hwang-trial-archegos/index.html" class="link" target="_blank" style="border-bottom:2px solid #1c7ff2;text-decoration:none;color:#333">began</a> yesterday, three years after his firm, Archegos, imploded in a matter of days.</p>
<p style="line-height:22px;margin-top:0;margin-bottom:15px">Bill Hwang, a Korean pastor’s son who had an epic Wall Street rise and an equally epic fall, now faces 11 <a href="https://finance.yahoo.com/news/explainer-charges-facing-archegos-founder-101102257.html" class="link" target="_blank" style="border-bottom:2px solid #1c7ff2;text-decoration:none;color:#333">counts</a> of racketeering, conspiracy, and fraud relating to an alleged “pump-and-brag” <a href="https://www.reuters.com/legal/bill-hwangs-trial-begins-over-collapse-his-36-billion-archegos-fund-2024-05-08/" class="link" target="_blank" style="border-bottom:2px solid #1c7ff2;text-decoration:none;color:#333">scheme</a> in which Hwang—through Archegos, his family office—inflated the value of stocks using billions of dollars borrowed from banks.</p>
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<li style="line-height:22px;margin-bottom:10px"><span>At one point, Archegos’s stock portfolio was worth over $100 billion. But when the firm collapsed over a little more than a week in 2021, it wiped out all of that value—including over half the value of media conglomerate Viacom.</span></li>
<li style="line-height:22px;margin-bottom:10px"><span>Credit Suisse also took a $5.5 billion hit when Archegos went belly-up, contributing to the bank’s 2023 demise.</span></li>
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<p style="line-height:22px;margin-top:0;margin-bottom:15px"><strong style="color:#000">Why Wall Street is watching:</strong> 1) Hwang got his start in the business working for a legendary hedge fund manager 2) the outcome could impact how family office funds are regulated and 3) Hwang’s strategy wasn’t profitable. Even the judge presiding over the case <a href="https://www.ft.com/content/cfdc017e-ab42-4d6c-8626-2648ecd237bf" class="link" target="_blank" style="border-bottom:2px solid #1c7ff2;text-decoration:none;color:#333">admitted</a> to being confused about what Hwang was trying to do, and if prosecutors can’t explain it, they might have a hard time convincing a jury he acted criminally.<em>—CC</em></p>
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TOGETHER WITH ENERGYX
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<a style="text-decoration:none;border:none;" target="_blank" href="https://invest.energyx.com/"><img alt="EnergyX" style="display: block; width: 100%; max-width: 670px;" width="670" class="story-header-image" src="https://cdn.sanity.io/images/bl383u0v/production/a60574a2a5588b76482f937b9a7bd31d78637f7c-1200x800.png?w=668&amp;q=90&amp;auto=format">
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<p style="line-height:22px;margin-top:0;margin-bottom:15px"><strong style="color:#000">The lithium boom. </strong>One EV needs 10k smartphone batteries’ worth of lithium, and forecasts expect 350m+ EVs by 2030. Well, <a href="https://invest.energyx.com/" class="link" target="_blank" style="border-bottom:2px solid #1c7ff2;text-decoration:none;color:#333">EnergyX can extract 300% more lithium</a> than today’s methods. That’s earned them a $50m investment from GM, a $5m DOE grant, and acquired land with ~5.5m tons of lithium. Now they’re accepting shareholders for a limited time. <a href="https://invest.energyx.com/" class="link" target="_blank" style="border-bottom:2px solid #1c7ff2;text-decoration:none;color:#333">Invest here</a>.</p>
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FOOD
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<a target="_blank" style="color:#000000!important;text-decoration:none;border-bottom:none!important;" href="https://www.morningbrew.com/daily/stories/political-party-in-germany-wants-a-kebab-price-cap"><font color="#000">
German political party wants a price cap on...kebabs
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<a style="text-decoration:none;border:none;" target="_blank" href="https://www.morningbrew.com/daily/stories/political-party-in-germany-wants-a-kebab-price-cap"><img alt="Worker shaving meat of vertical rotisserie." style="display: block; width: 100%; max-width: 670px;" width="670" class="story-header-image" src="https://cdn.sanity.io/images/bl383u0v/production/8d1cd847bc50d60d6554bff813d1f439b5532a4f-1500x1000.jpg?w=668&amp;q=70&amp;auto=format">
</a><span class="source" style="display:inline-block;padding-left:10px;margin-top:5px;margin-bottom:0px;line-height:14px"><small><em>Adam Berry/Getty Images</em></small></span>
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<p style="line-height:22px;margin-top:0;margin-bottom:15px">In a move that feels like it was pitched by an angry middle-school student council, a German political party said it would propose a government price cap on doner kebabs, a popular street food in the country.</p>
<p style="line-height:22px;margin-top:0;margin-bottom:15px">Around <a href="https://www.theguardian.com/world/article/2024/may/07/germans-grill-olaf-scholz-over-soaring-cost-of-doner-kebabs" class="link" target="_blank" style="border-bottom:2px solid #1c7ff2;text-decoration:none;color:#333">$7.5 billion</a> worth of doner kebabs—a Turkish dish that involves tossing some shaved meat + fixins on a flatbread—are sold every year in Germany. But young people and some politicians are complaining that the formerly cheap meal is now almost out of reach for ordinary Germans.</p>
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<li style="line-height:22px;margin-bottom:10px"><span>Some businesses have raised kebab prices from ~$4 two years ago to nearly $11, according to Germany’s left-wing Die Linke party.</span></li>
<li style="line-height:22px;margin-bottom:10px"><span>The party wants a cap of $5.30 per sandwich and for the German government to subsidize the popular dish, proposing that every household get a voucher for their daily doner.</span></li>
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<p style="line-height:22px;margin-top:0;margin-bottom:15px"><strong style="color:#000">Foodflation: </strong>While this might seem like a political stunt, people get riled up about about the price of their favorite noshes inflating. Last year, the Italian government called an <a href="https://www.cnbc.com/2023/05/23/pasta-prices-have-surged-prompting-crisis-meetings-in-italy-and-calls-for-a-strike.html#:~:text=Pasta%20prices%20rose%2017.5%25%20in,March%2C%20according%20to%20Refinitiv%20data" class="link" target="_blank" style="border-bottom:2px solid #1c7ff2;text-decoration:none;color:#333">emergency meeting</a> to discuss pasta prices rising over 16% two months in a row. French President Emmanuel Macron has made <a href="https://www.wsj.com/articles/inflation-threatens-a-french-institution-baguettes-11672933346" class="link" target="_blank" style="border-bottom:2px solid #1c7ff2;text-decoration:none;color:#333">statements</a> about shielding the baguette from rising energy costs. And US East Coasters were not happy when they saw the <a href="https://nypost.com/2023/07/19/mcdonalds-branch-slammed-for-charging-18-for-a-big-mac-meal/" class="link" target="_blank" style="border-bottom:2px solid #1c7ff2;text-decoration:none;color:#333">exorbitant price tag</a> on a Double Quarter Pounder at a McD’s in Connecticut.<em>—MM</em></p>
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GRAB BAG
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Key performance indicators
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<img alt="Taylor Swift performing during the Eras Tour" style="display: block; width: 100%; max-width: 670px;" width="670" class="story-header-image" src="https://cdn.sanity.io/images/bl383u0v/production/2d8ee22ce4131a7dc91e25834d51956ec1b38d89-1500x1000.jpg?w=668&amp;q=70&amp;auto=format">
<span class="source" style="display:inline-block;padding-left:10px;margin-top:5px;margin-bottom:0px;line-height:14px"><small><em>Don Arnold, TAS24/Getty Images</em></small></span>
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<p style="line-height:22px;margin-top:0;margin-bottom:15px"><strong style="color:#000">Stat: </strong>There’s one major attraction Americans are flocking to Europe to see: Taylor Swift. The European leg of her Eras Tours kicks off today in Paris, and her concerts will bring five times more US <a href="https://www.bloomberg.com/tosv2.html" class="link" target="_blank" style="border-bottom:2px solid #1c7ff2;text-decoration:none;color:#333">luxury travelers</a> to the city than the upcoming Olympics, high-end travel agency Embark Beyond told Bloomberg. And it’s not just the richest Swifties willing to use their fortnight’s vacation to catch the show: The Associated Press <a href="https://apnews.com/article/taylor-swift-europe-eras-tour-fans-bcf8a207f06fd1f3e17a2f3f3b24dab5" class="link" target="_blank" style="border-bottom:2px solid #1c7ff2;text-decoration:none;color:#333">reports</a> that some American fans are following the singer to Europe after realizing that stricter restrictions on ticket prices made it cheaper to see her there. In Paris, 20% of tickets were snapped up by Americans, and when Swift performs in Stockholm, 10,000 Americans are expected to attend.</p>
<p style="line-height:22px;margin-top:0;margin-bottom:15px"><strong style="color:#000">Quote: </strong>“[It] was caused by a worm that got into my brain and ate a portion of it and then died.”</p>
<p style="line-height:22px;margin-top:0;margin-bottom:15px">Apologies for hitting you with that mental image while you’re trying to enjoy your morning coffee, but don’t blame us—blame the New York Times, which <a href="https://www.nytimes.com/2024/05/08/us/rfk-jr-brain-health-memory-loss.html" class="link" target="_blank" style="border-bottom:2px solid #1c7ff2;text-decoration:none;color:#333">dug up</a> a 2012 deposition in which Robert F. Kennedy Jr. said a doctor believed that’s what happened to him. Kennedy, now an independent candidate for president despite the objections of some members of his famous family, recounted in his deposition that a doctor told him that a dark spot on scans of his brain was a deceased parasite. In the deposition, Kennedy said the incident caused cognitive problems, but he told the NYT he has fully recovered and there are no aftereffects.</p>
<p style="line-height:22px;margin-top:0;margin-bottom:15px"><strong style="color:#000">Read: </strong>Your phone can tell when you’re depressed. (<a href="https://www.vox.com/future-perfect/24150430/depression-detection-technology-ai-tests-apps-mental-health" class="link" target="_blank" style="border-bottom:2px solid #1c7ff2;text-decoration:none;color:#333">Vox</a>)</p>
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NEWS
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<a target="_blank" style="color:#000000!important;text-decoration:none;border-bottom:none!important;" href="#"><font color="#000">
What else is brewing
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<span><a href="https://www.cnn.com/2024/05/08/politics/joe-biden-interview-cnntv/index.html" class="link" target="_blank" style="border-bottom:2px solid #1c7ff2;text-decoration:none;color:#333">President Biden</a></span><span> said the US will not supply Israel with offensive weapons if it launches a major assault on Rafah, a city in southern Gaza to which many Palestinians have fled during the war, but would continue to send defensive weapons.</span>
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<li style="line-height:22px;margin-bottom:10px">
<span><a href="https://www.cnbc.com/2024/05/08/disney-warner-bros-discovery-bundle-streaming-services.html" class="link" target="_blank" style="border-bottom:2px solid #1c7ff2;text-decoration:none;color:#333">Disney and Warner Bros. Discovery</a></span><span> plan to offer a bundle of their streaming services: Hulu, Disney+, and Max. It's like cable, but you can watch it on a way smaller screen.</span>
</li>
<li style="line-height:22px;margin-bottom:10px">
<span><a href="https://www.cnbc.com/2024/05/08/georgia-appeals-court-will-hear-trump-bid-to-disqualify-da-fani-willis-in-election-case.html" class="link" target="_blank" style="border-bottom:2px solid #1c7ff2;text-decoration:none;color:#333">A Georgia appeals court</a></span><span> agreed to consider Donald Trump’s attempt to get Fulton County District Attorney Fani Willis tossed from the election interference case against him.</span>
</li>
<li style="line-height:22px;margin-bottom:10px">
<span><a href="https://apnews.com/article/shohei-ohtani-interpreter-ippei-mizuhara-sports-betting-0b0445af4bcac6886b25d049b922cba6" class="link" target="_blank" style="border-bottom:2px solid #1c7ff2;text-decoration:none;color:#333">Shohei Ohtani’s former interpreter</a></span><span> will plead guilty to bank and tax fraud in a case stemming from his sports betting scandal and will be required to repay the Dodgers star nearly $17 million, prosecutors say.</span>
</li>
<li style="line-height:22px;margin-bottom:10px">
<span><a href="https://www.cnbc.com/2024/05/08/neuralinks-first-in-human-brain-implant-has-experienced-a-problem-company-says-.html" class="link" target="_blank" style="border-bottom:2px solid #1c7ff2;text-decoration:none;color:#333">Neuralink</a></span><span> said a part of its first implant in a human brain has malfunctioned, though the patient is still able to use the brain-computer interface system.</span>
</li>
<li style="line-height:22px;margin-bottom:10px">
<span><a href="https://www.cnn.com/2024/05/08/politics/house-rejects-greene-motion-to-vacate/index.html" class="link" target="_blank" style="border-bottom:2px solid #1c7ff2;text-decoration:none;color:#333">House Speaker Mike Johnson</a></span><span> survived Marjorie Taylor Greene’s effort to oust him, in part by getting help from Democrats.</span>
</li>
<li style="line-height:22px;margin-bottom:10px">
<span><a href="https://www.cnn.com/2024/05/08/climate/clean-energy-milestone-ember/index.html" class="link" target="_blank" style="border-bottom:2px solid #1c7ff2;text-decoration:none;color:#333">A record-breaking 30%</a></span><span> of the world’s electricity was produced by renewables last year as wind and solar power got more popular.</span>
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RECS
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<img alt="To do list Thursday" style="display: block; width: 100%; max-width: 670px;" width="670" class="story-header-image" src="https://cdn.sanity.io/images/bl383u0v/production/4856751cdc557e9ccdafd8d6034e2b3934e4841a-1500x375.png?w=668&amp;q=70&amp;auto=format">
<span class="source" style="display:inline-block;padding-left:10px;margin-top:5px;margin-bottom:0px;line-height:14px"><small><em>        </em></small></span>
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<p style="line-height:22px;margin-top:0;margin-bottom:15px"><img src="https://em-content.zobj.net/thumbs/120/apple/237/white-heavy-check-mark_2705.png" width="18" style="max-width:18px" alt=""> <strong style="color:#000">Royally concerned: </strong>Why brands that use the UK royal family’s <a href="https://vinepair.com/articles/alcohol-brands-royal-warrant-process-underway/" class="link" target="_blank" style="border-bottom:2px solid #1c7ff2;text-decoration:none;color:#333">coat of arms</a> are sweating right now.</p>
<p style="line-height:22px;margin-top:0;margin-bottom:15px"><img src="https://em-content.zobj.net/thumbs/120/apple/237/white-heavy-check-mark_2705.png" width="18" style="max-width:18px" alt=""> <strong style="color:#000">Watch:</strong> Everything you ever wanted to know <a href="https://www.youtube.com/watch" class="link" target="_blank" style="border-bottom:2px solid #1c7ff2;text-decoration:none;color:#333">about tomatoes</a>.</p>
<p style="line-height:22px;margin-top:0;margin-bottom:15px"><img src="https://em-content.zobj.net/thumbs/120/apple/237/white-heavy-check-mark_2705.png" width="18" style="max-width:18px" alt=""> <strong style="color:#000">Trade:</strong> Level up your closet with an online community <a href="https://www.luckysweater.com/" class="link" target="_blank" style="border-bottom:2px solid #1c7ff2;text-decoration:none;color:#333">clothing swap</a>.</p>
<p style="line-height:22px;margin-top:0;margin-bottom:15px"><img src="https://em-content.zobj.net/thumbs/120/apple/237/white-heavy-check-mark_2705.png" width="18" style="max-width:18px" alt=""> <strong style="color:#000">Practically twins:</strong> Find out what food product was born the <a href="https://www.tasteofhome.com/collection/what-food-product-came-out-the-year-you-were-born/" class="link" target="_blank" style="border-bottom:2px solid #1c7ff2;text-decoration:none;color:#333">same year as you</a>.</p>
<p style="line-height:22px;margin-top:0;margin-bottom:15px"><img src="https://em-content.zobj.net/thumbs/120/apple/237/white-heavy-check-mark_2705.png" width="18" style="max-width:18px" alt=""> <strong style="color:#000">Last chance: </strong>Time is running out to join the program students say is “the best way to cut through the AI noise.” <a href="https://www.sectionschool.com/ai/ai-crash-course-with-morning-brew" class="link" target="_blank" style="border-bottom:2px solid #1c7ff2;text-decoration:none;color:#333">Get 20% off using code BREW20</a>.</p>
<p style="line-height:22px;margin-top:0;margin-bottom:15px"><img src="https://em-content.zobj.net/thumbs/120/apple/237/white-heavy-check-mark_2705.png" width="18" style="max-width:18px" alt=""> <strong style="color:#000">Save $2k on summer flights…for life:</strong> Every year, fly round-trip to Europe from $299 or Hawaii (in business class) from $800. Dollar Flight Club’s <a href="https://app.dollarflightclub.com/signup/lifetimepremiumplus6" class="link" target="_blank" style="border-bottom:2px solid #1c7ff2;text-decoration:none;color:#333">lifetime membership</a> is just $129 (was $1,690) until midnight tonight, <a href="https://app.dollarflightclub.com/signup/lifetimepremiumplus6" class="link" target="_blank" style="border-bottom:2px solid #1c7ff2;text-decoration:none;color:#333">so don’t wait</a>.*</p>
<placementslot data-id="67d518afd9f3"></placementslot><placementslot data-id="5d6eb16d1845"></placementslot><p style="line-height:22px;margin-top:0;margin-bottom:15px"><sup><em>*A message from our sponsor.</em></sup></p>
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GAMES
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<h1 style="font-family:Helvetica, Arial, sans-serif;font-size:24px;color:#333;font-weight:700;margin-bottom:0;line-height:26px;margin-top:8px">
<a target="_blank" style="color:#000000!important;text-decoration:none;border-bottom:none!important;" href="#"><font color="#000">
The puzzle section
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<p style="line-height:22px;margin-top:0;margin-bottom:15px"><strong style="color:#000">Brew Mini: </strong>Slither your way through today’s Mini <a href="https://www.morningbrew.com/daily/stories/brew-mini-snaky" class="link" target="_blank" style="border-bottom:2px solid #1c7ff2;text-decoration:none;color:#333">here</a>.</p>
<h2 style="font-family:Helvetica, Arial, sans-serif;font-size:19px;font-weight:700;color:#000;margin-top:0;margin-bottom:15px;margin-right:0;margin-left:0">Three Headlines and a Lie</h2>
<p style="line-height:22px;margin-top:0;margin-bottom:15px">We love a theme, and Tesla’s Cybertruck release has been plagued with so many mishaps that we rounded up three real headlines about it and one that’s faker than your friend who keeps saying his is backordered. Can you spot the odd one out?</p>
<ol>
<li style="line-height:22px;margin-bottom:10px">
<span>Texas Cybertruck parade </span><span><a href="https://media.giphy.com/media/v1.Y2lkPTc5MGI3NjExbzZsZWVrNXg1Nnk5ZGZ1MnJ0OXdsaTdmbnZ3d2NsNnNzMDh2em40byZlcD12MV9pbnRlcm5hbF9naWZfYnlfaWQmY3Q9Zw/L2fiwKj5VfpFycNDZA/giphy.gif" class="link" target="_blank" style="border-bottom:2px solid #1c7ff2;text-decoration:none;color:#333">canceled</a></span><span> after no one signs up</span>
</li>
<li style="line-height:22px;margin-bottom:10px">
<span>'One folly to the next': Cybertruck blunders </span><span><a href="https://www.sfgate.com/tech/article/cybertruck-blunders-mocked-locals-wealthy-island-19441952.php" class="link" target="_blank" style="border-bottom:2px solid #1c7ff2;text-decoration:none;color:#333">mocked</a></span><span> by locals on wealthy island</span>
</li>
<li style="line-height:22px;margin-bottom:10px">
<span>Cybertruck owner </span><span><a href="https://gizmodo.com/cybertruck-video-breaks-finger-safe-stick-elon-musk-1851460112" class="link" target="_blank" style="border-bottom:2px solid #1c7ff2;text-decoration:none;color:#333">breaks</a></span><span> his finger trying to show vehicle is safe</span>
</li>
<li style="line-height:22px;margin-bottom:10px">
<span>Sharp edge </span><span><a href="https://www.theautopian.com/sharp-edge-slashes-cybertruck-owners-leg-open-but-he-still-loves-the-truck/#:~:text=There%2C%20owner%20CyberWade%20wrote%20to,my%20leg%2C%E2%80%9D%20said%20CyberWade." class="link" target="_blank" style="border-bottom:2px solid #1c7ff2;text-decoration:none;color:#333">slashes</a></span><span> Cybertruck owners leg open, but he still loves the truck</span>
</li>
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ANSWER
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<p style="line-height:22px;margin-top:0;margin-bottom:15px">We made up the one about the parade.</p>
<p style="line-height:22px;margin-top:0;margin-bottom:15px"><span style="text-decoration:underline">Word of the Day</span></p>
<p style="line-height:22px;margin-top:0;margin-bottom:15px">Today’s Word of the Day is: fortnight, meaning “two weeks.” Thanks to Alison Barfoot from Uganda and several other readers for the timely suggestion. Submit another <a href="https://morningbrewdaily.typeform.com/to/VXtG4s6E" class="link" target="_blank" style="border-bottom:2px solid #1c7ff2;text-decoration:none;color:#333">Word of the Day here</a>.</p>
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<p style="line-height:22px;margin-top:0;margin-bottom:15px;line-height:22px;margin-top:0;margin-bottom:15px;font-size:10px;line-height:10px;"><strong style="color:#000">✷ A Note From GolfSuites</strong></p>
<p style="line-height:22px;margin-top:0;margin-bottom:15px">This is a paid advertisement for GolfSuites 1, Inc.’s Regulation A offering. Please read the offering circular at <a href="https://invest.golfsuites.com/" class="link" target="_blank" style="border-bottom:2px solid #1c7ff2;text-decoration:none;color:#333">invest.golfsuites.com</a>.</p>
<p style="line-height:22px;margin-top:0;margin-bottom:15px;line-height:22px;margin-top:0;margin-bottom:15px;font-size:10px;line-height:10px;"><strong style="color:#000">✢ A Note From SmartAsset</strong></p>
<p style="line-height:22px;margin-top:0;margin-bottom:15px">1. <a href="https://www.pm-research.com/openid-connect/sams-sigma" class="link" target="_blank" style="border-bottom:2px solid #1c7ff2;text-decoration:none;color:#333"><em>The Journal of Retirement</em>, winter 2020</a>. The projections or other information regarding the likelihood of various investment outcomes are hypothetical in nature, do not reflect actual investment results, and are not guarantees of your future results. Please follow the link to see the methodologies employed in the <a href="https://www.pm-research.com/openid-connect/sams-sigma" class="link" target="_blank" style="border-bottom:2px solid #1c7ff2;text-decoration:none;color:#333"><em>The Journal of Retirement</em> study</a>.</p>
<p style="line-height:22px;margin-top:0;margin-bottom:15px;line-height:22px;margin-top:0;margin-bottom:15px;font-size:10px;line-height:10px;"><strong style="color:#000">✳︎ A Note From EnergyX</strong></p>
<p style="line-height:22px;margin-top:0;margin-bottom:15px">This is a paid advertisement for EnergyX’s Regulation A+ offering. Please read the offering circular at <a href="https://invest.energyx.com/" class="link" target="_blank" style="border-bottom:2px solid #1c7ff2;text-decoration:none;color:#333">invest.energyx.com/</a>.</p>
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Why the next drug you take may be designed by AI...

May 09, 2024 View Online | Sign Up | Shop
Morning Brew

PRESENTED BY

SmartAsset
Good morning. Everyone is returning to the office these days—even The Office.

Yesterday, Peacock announced it was picking up a new iteration of The Office that will be set in the same universe and filmed in a mockumentary style similar to the Steve Carrell classic. Instead of focusing on a struggling paper company in Scranton, V2 of The Office will explore the workplace dynamics of “a dying historic Midwestern newspaper and the publisher trying to revive it with volunteer reporters.”

*Stares blankly at camera*

—Holly Van Leuven, Cassandra Cassidy, Matty Merritt, Abby Rubenstein, Neal Freyman

MARKETS

Nasdaq

16,302.76

-0.18%

S&P

5,187.67

-0.00%

Dow

39,056.39

+0.44%

10-Year

4.492%

+2.9 bps

Bitcoin

$61,537.25

-1.26%

Shopify

$62.73

-18.59%

Data is provided by *Stock data as of market close, cryptocurrency data as of 10:00pm ET. Here's what these numbers mean.

Markets: Stocks were mixed yesterday, but nothing could stop the Dow, which notched its sixth straight trading day on the rise. Shopify’s value plunged by nearly $20 billion after releasing a gloomy forecast for this quarter. It’s the latest pandemic darling to stumble: According to the FT, the firms that skyrocketed during lockdowns have lost a collective $1.5 trillion in value since the end of 2020.

Markets Sponsored by GolfSuites

The sweetest swing: Join golf entertainment’s revolution alongside an OG Shark Tank investor. GolfSuites aims to add 3x+ locations by 2026. Invest before their share price changes tonight .

BIOTECH

AI may soon be designing drugs
A prescription drug bottle filled with 0s and 1s to represent binary code. Francis Scialabba
If humankind ever gets drugs that cure cancer, diabetes, and heart disease, we might have AI to thank. Because each attempt to make a drug requires huge amounts of data, money, and experimentation, biotech companies have bet big on machine-learning models to develop brand-new ones and help match patients to the right medications for their biochemistry.

Google raised the stakes yesterday when its DeepMind AI research laboratory, in conjunction with Isomorphic Labs, announced the release of AlphaFold 3 , an AI model that “predicts the structure and interactions of all of life’s molecules.”

Why is that a big deal? Google is hoping to improve on the current drug discovery process, which has a 90% failure rate, largely because scientists have a limited map of all the tiny components of the human body and the ways diseases interact with them.

Explaining the potential of AI pharma development generally, the CEO of a drug startup told the MIT Technology Review , “All of Big Pharma taken together…has an ingredient list of at most 10 million molecules to build drugs from.” But, he explained, the number of molecules that exist is thought to be a decillion, a number with 33 zeros rather than 7. And that’s where the computational power of machine-learning models comes in.

If the AI can predict how a proposed drug will affect the body, it can find promising candidates more quickly.

The AlphaFold 3 tool will allow researchers to test more hypotheses before committing to the slow and expensive testing protocols that still need to be carried out IRL. Access to the tool will be free for noncommercial use.

What about AI hallucinations? What’s bad for your report on Richard III may be great for drug R&D. Scientists have said the norm-shattering conjectures made by AI have sometimes proven fruitful.

The fine print: While independent scientists tout AlphaFold 3 as a major step forward, the system is “not good at predicting how proteins can change shape in living systems in response to their environment,” the Guardian said, which could impact drug efficacy in the real world.—HVL

PRESENTED BY SMARTASSET

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This Princeton grad’s startup raised $161m to help people plan for retirement .

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WORLD

Tour de headlines <#> Ex FTX CEO SBF testifying to Congress in 2021 SBF in the simpler days of 2021. C-SPAN via giphy.
FTX’s customers are getting their money back—plus interest. This probably isn’t an outcome anyone would have bet on when the crypto exchange imploded in 2022 (except maybe FTX’s notoriously risk-embracing founder, Sam Bankman-Fried), but attorneys for the bankrupt company say they’ve found enough cash to pay back its customers with interest. The recovery of the crypto market plus the ability to sell assets like a stake in AI company Anthropic will give FTX as much as $16.3 billion to distribute, the lawyers said. The plan still has to be okayed by a judge, but current CEO John Ray, who took over when FTX collapsed, noted, “In any bankruptcy, this is just an unbelievable result.” However, there won’t be money left for the investors that backed FTX.

Uber profits hit the brakes. Last year, Uber boasted its first full-year profit since going public, but yesterday the company reported a surprise loss for the first quarter of 2024, dashing investors’ hopes for steady profits and sending its stock way down. The disappointing numbers suggested Uber’s growth has slowed and reflected the toll constant legal battles with regulators are taking on the company’s finances. Meanwhile, Uber’s smaller rival Lyft appears to have its foot on the gas pedal. Lyft posted better-than-expected quarterly results on Tuesday and saw a stock bump yesterday.

Microsoft is investing $3.3 billion in a Wisconsin AI hub. The software giant plans to put the cash toward creating an AI data center . President Biden was on hand in Wisconsin yesterday to help announce the news—and not just to tout a big investment that’s expected to create jobs. The president also likely wanted to tweak his Republican rival Donald Trump, who during his own presidency announced a $10 billion investment by Foxconn to create a factory on the same land, a plan that never came to fruition.

FINANCE

Trial begins for alleged Wall Street schemer Bill Hwang Spencer Platt/Getty Images
The trial of the cryptic investor who allegedly masterminded one of Wall Street’s strangest and most far-reaching white-collar crimes has begun , three years after his firm, Archegos, imploded in a matter of days.

Bill Hwang, the son of a Korean pastor who had an epic Wall Street rise and an equally epic fall, now faces 11 counts of racketeering, conspiracy, and fraud relating to an alleged “pump-and-brag” scheme in which Hwang—through Archegos, his family office—inflated the value of stocks using billions of dollars borrowed from banks.

At one point, Archegos’s stock portfolio was worth over $100 billion. But when the firm collapsed over a little more than a week in 2021, it wiped out all of that value—including over half the value of media conglomerate Viacom.

Credit Suisse also took a $5.5 billion hit when Archegos went belly-up, a contributing factor to the bank’s 2023 demise.

Why Wall Street is watching: 1) Hwang started in the business working for a legendary hedge fund manager 2) the outcome could impact how family office funds are regulated and 3) Hwang’s strategy wasn’t profitable. Even the judge presiding over the case admitted to being confused about what Hwang was trying to do, and if prosecutors can’t explain it, they might have a hard time convincing a jury he acted criminally.—CC

TOGETHER WITH ENERGYX

EnergyX
The lithium boom. One EV needs 10k smartphone batteries’ worth of lithium, and forecasts expect 350m+ EVs by 2030. Well, EnergyX can extract 300% more lithium than today’s methods. That’s earned them a $50m investment from GM, a $5m DOE grant, and acquired land with ~5.5m tons of lithium. Now they’re accepting shareholders for a limited time. Invest here .

FOOD

German political party wants a price cap on...kebabs Worker shaving meat of vertical rotisserie. Adam Berry/Getty Images
In a move that feels like it was pitched by an angry middle-school student council, a German political party said it will propose a government cap on doner kebabs, a popular street food in the country.

Around $7.5 billion worth of doner kebabs—a Turkish dish that involves tossing some shaved meat + fixins’ on a flatbread—are sold every year. But young people and some politicians are complaining that the formerly cheap meal is almost out of reach for ordinary Germans.

Some businesses have raised kebab prices from ~$4 two years ago to nearly $11, according to Germany’s left-wing Die Linke party.

The party wants a cap of $5.30 per sandwich and for the German government to subsidize the popular dish, proposing that every household get a voucher for their daily doner.

Foodflation: It might seem like a political stunt, but people get riled up about their favorite noshes inflating. Last year, the Italian government called an emergency meeting to discuss pasta prices rising over 16% two months in a row. French President Emmanuel Macron has made statements about protecting the baguette. And US East Coasters were not happy when they saw the exorbitant price tags on a Double Quarter Pounder at a McD’s in Connecticut.—MM

GRAB BAG

Key performance indicators <#> Taylor Swift performing during the Eras Tour Don Arnold, TAS24/Getty Images
Stat: There’s one major attraction Americans are flocking to Europe to see: Taylor Swift. The European leg of her Eras Tours kicks off today in Paris, and her concerts will bring five times more US luxury travelers to the city than the upcoming Olympics, high-end travel agency Embark Beyond told Bloomberg. And it’s not just the richest Swifties willing to use their fortnight’s vacation to catch the show: The Associated Press reports that some American fans are following the singer to Europe after realizing that stricter restrictions on ticket prices made it cheaper to see her there. In Paris, 20% of tickets were snapped up by Americans, and when Swift performs in Stockholm, 10,000 Americans are expected to be there.

Quote: “[It] was caused by a worm that got into my brain and ate a portion of it and then died.”

Read: Your phone can tell when you’re depressed. (Vox )

NEWS

What else is brewing <#>
The US paused a shipment of bombs to Israel due to concerns about how they might be used in the assault on the southern Gaza city of Rafah where many Palestinians have fled during the war.

A Georgia appeals court agreed to consider Donald Trump’s attempt to get Fulton County District Attorney Fani Willis tossed from the election interference case against him.

Shohei Ohtani’s former interpreter will plead guilty to bank and tax fraud in a case stemming from his sports betting scandal and will be required to repay the Dodgers star nearly $17 million, prosecutors say.

AstraZeneca is pulling its Covid vaccine around the globe as demand for it diminishes.

A record-breaking 30% of the world’s electricity was produced by renewables last year as wind and solar power got more popular.

Disneyland got final approval for a rezoning that will pave the way for a massive expansion of the theme park.

RECS

To do list Thursday
Royally concerned: Why brands that use the UK royal family’s coat of arms are sweating right now.

Watch: Everything you ever wanted to know about tomatoes .

Trade: Level up your closet with an online community clothing swap .

Practically twins: Find out what food product was born the same year as you .

Last chance: Time is running out to join the program students say is “the best way to cut through the AI noise.” Get 20% off using code BREW20 .

Save $2k on summer flights…for life: Every year, fly round-trip to Europe from $299 or Hawaii (in business class) from $800. Dollar Flight Club’s lifetime membership is just $129 (was $1,690) until midnight tonight, so don’t wait .*

*A message from our sponsor.

GAMES

The puzzle section <#>
Brew Mini: Slither your way through today’s Mini here .

Three Headlines and a Lie

Texas Cybertruck parade canceled after no one signs up

'One folly to the next': Cybertruck blunders mocked by locals on wealthy island

Cybertruck owner breaks his finger trying to show vehicle is safe

Sharp edge slashes Cybertruck owners leg open, but he still loves the truck

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ANSWER

We made up the one about the parade.

Word of the Day

Today’s Word of the Day is: fortnight, meaning “two weeks.” Thanks to Alison Barfoot from Uganda and several other readers for the timely suggestion. Submit another Word of the Day here .

✷ A Note From GolfSuites

This is a paid advertisement for GolfSuites 1, Inc.’s Regulation A offering. Please read the offering circular at invest.golfsuites.com .

✢ A Note From SmartAsset

1. The Journal of Retirement, winter 2020 . The projections or other information regarding the likelihood of various investment outcomes are hypothetical in nature, do not reflect actual investment results, and are not guarantees of your future results. Please follow the link to see the methodologies employed in the The Journal of Retirement study .

✳︎ A Note From EnergyX

This is a paid advertisement for EnergyX’s Regulation A+ offering. Please read the offering circular at invest.energyx.com/ .

Written by Neal Freyman , Abigail Rubenstein , Holly Van Leuven , Cassandra Cassidy , and Matty Merritt

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