🐂 Rush to retire

Markets

Stocks regained momentum in November, experiencing an uptick fueled by familiar optimism surrounding the Federal Reserve's halt in raising interest rates. The standout performer of the day was PDD Holdings, the parent company of Temu, witnessing a remarkable 18% surge following the Chinese e-commerce platform's impressive demolition of revenue forecasts.

Healthcare

Trump on Obamacare

The recurrent nature of former President Trump's recent campaign promises is comparable to the frequency of recycling containers from your local Thai restaurant. The 2024 Republican frontrunner, who took to Truth Social over the weekend, expressed serious consideration of alternatives for the Affordable Care Act (ACA), commonly known as Obamacare, should he reclaim the presidency.

Trump acknowledged that failing to repeal Obamacare during his initial term was a low point for the Republican party but emphasized the importance of persistence. Interestingly, the term "Obamacare" has become somewhat of a distant memory, as many Republicans, who initially vehemently opposed it since its inception in 2010, have largely abandoned the fight against it.

Attempts to "repeal and replace" the landmark healthcare bill in 2016 and 2017 faced vetoes from former President Barack Obama or were blocked by Democrats (and a few Republican allies) in Congress. In 2021, the Supreme Court dismissed a lawsuit, backed by 18 Republican state attorneys general and the Trump administration, aiming to dismantle the ACA.

While Trump's promise to replace the ACA is not new and was a significant part of his 2016 platform, a superior health plan never materialized.

The reluctance of many Republicans, aside from Trump, to continue opposing the ACA stems from its popularity among Americans. A May 2023 KFF poll revealed that six out of 10 Americans hold a favorable opinion of Obamacare. The protections it offers for individuals with preexisting conditions are particularly well-received, with 79% of Americans in 2020, including 66% of Republicans, expressing a desire to retain these safeguards.

In a different facet of the healthcare debate, Senators Elizabeth Warren (Democrat) and Mike Braun (Republican) recently urged the US Department of Health and Human Services to investigate whether large insurance companies are inflating prescription drug prices at pharmacies they own.

Business News

Charlie Munger died at 99

The esteemed investment expert and right-hand man to Warren Buffett at Berkshire Hathaway passed away in a California hospital on Tuesday, as stated by an official company announcement. Apart from his role as vice chairman at Berkshire Hathaway, Munger was a renowned investor, having been the CEO of Wesco Capital until 2011 when Berkshire assumed control of the company. Collaboratively, Buffett and Munger steered Berkshire to annual gains of 20.1%, a rate twice that of the S&P 500, thanks to their groundbreaking investment philosophies. Munger's net worth stood at $2.5 billion as of this year. Buffett acknowledged Munger's indispensable contribution, stating, "Berkshire Hathaway could not have been built to its present status without Charlie’s inspiration, wisdom, and participation."

Mark Cuban last season of Shark Tank

Mark Cuban has demonstrated his strategic acumen by selling the majority stake in the NBA's Dallas Mavericks to the Adelson family, renowned casino tycoons, at a valuation of approximately $3.5 billion. Notably, Cuban retains full control of basketball operations, as reported by Shams Charania of The Athletic.

Cuban originally acquired the team for $285 million in 2000, showcasing a remarkable increase in the franchise's value over the years.

In conjunction with this Mavericks sale, coupled with the recent announcement of Cuban departing from Shark Tank after the upcoming season, there may be speculation about his intentions. However, despite these changes, current prediction markets attribute a 25% likelihood to a potential presidential campaign by Cuban.

Artificial Intelligence

Sports illustrated AI

Following reports that Sports Illustrated published articles attributed to seemingly non-existent writers, the once highly regarded media outlet is facing challenges in restoring its tarnished reputation.

Futurism's Monday report unveiled that some Sports Illustrated contributors' profiles featured AI-generated headshots, and certain articles exhibited writing that sounded more mechanical than human. In response, Sports Illustrated released a statement indicating that the contested content originated from a third-party partner who assured them it was human-authored, though this claim is now subject to debate.

One particular article, ostensibly penned by "Drew Ortiz," stated, "Volleyball can be a little tricky to get into, especially without a ball to practice with." Anonymous sources informed Futurism that the content is "absolutely AI-generated, no matter how much they say that it’s not."

In an attempt to address the issue, Sports Illustrated has added disclaimers to articles from third parties that it has published. However, the damage to the reputation of what was once considered a leading property in sports media seems irreversible. Current and former human journalists at Sports Illustrated have expressed disappointment with the Arena Group, the company now in possession of the SI brand, which has a track record of utilizing AI to generate stories.

This incident adds to the growing list of challenges associated with the use of AI in media. In August, Gannett abandoned its AI local sports writing initiative after a poorly received story gained viral attention. The company faced renewed criticism in October over allegations that one of its websites, Reviewed, published reviews written by AI.

Science

Startups are trying to make dogs live longer

Canine longevity startup Loyal has made strides toward its mission of extending the lives of our canine companions. The Food and Drug Administration (FDA), responsible for approving drugs for both humans and animals, has acknowledged the potential efficacy of Loyal's life-extending drug for large dogs based on early tests. This announcement, confirmed by the New York Times, opens the door for a substantial clinical trial and anticipates the drug's availability at veterinary offices by 2026 through an expedited approval process for experimental animal medications.

Here's how it operates:

The injectable prescription, LOY-001, is designed for large-breed canines with shorter lifespans compared to smaller breeds. While it doesn't promise perpetual puppyhood, Loyal states that LOY-001 inhibits the production of a hormone called IGF-1, which is more abundant in big dogs. The inhibition of this hormone in rodents and worms has previously been linked to an increase in life expectancy.

Although tests indicate that the drug may slow down the aging process in dogs, Loyal is yet to substantiate whether LOY-001 genuinely extends their lifespan.

While side effects seem minimal, some breeders of large dogs express concerns about the ethical implications of administering a new, unproven drug to healthy dogs.

The question of whether the drug could have similar effects on humans is raised, given that IGF-1 levels also impact human lifespan. However, the complexity of testing drugs on humans introduces additional challenges.