Bristol’s $14 Billion Karuna Deal Highlights Race for New Drugs
Dec 22, 2023
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Bristol Myers' $14 billion acquisition of Karuna Therapeutics in the race for new drugs. Finding value in the markets explained by CIO at NFJ Investment Group. Priceline CEO talks about a busy holiday travel season. Year in crypto and outlook for 2024. Silicon Valley's quest to live forever. Insights on stock market, investment strategies, and video industry. Travel industry updates and currency market analysis.
Silicon Valley is divided between those who believe in living forever and those who focus on extending healthy life through conservative approaches and FDA-approved treatments.
The pursuit of longevity highlights clashes between philosophical aspirations and practical advancements, as well as concerns about accessibility and equality in accessing anti-aging treatments.
The intersection of crypto, AI, and longevity is becoming more apparent, with events like Zuzalu showcasing the influence of crypto money in funding longevity research and the emergence of experimental treatment zones.
Deep dives
The Quest for Immortality in Silicon Valley
Silicon Valley has a unique obsession with anti-aging and longevity, with some individuals and groups actively promoting the idea of immortality. Anti-death activism and immortalist views are driving a belief that death from aging is a bad thing and should be eliminated. However, there is significant debate within the longevity field, with some researchers focusing on more conservative approaches and FDA-approved treatments to extend healthy life rather than seeking to live forever. While advancements in anti-aging and longevity are being made, accessibility and equality in accessing these treatments remain concerns.
Warring Factions in the Longevity Field
The longevity field is not without its internal conflicts. From infighting between anti-death activists and biotech researchers to allegations of sexual harassment against prominent figures like Aubrey De Grey, tensions arise amidst the shared goal of extending human life. The clash between philosophical aspirations and practical advancements in the field highlights the complexity and ethical considerations surrounding the quest for longer lifespans.
Montenegro Gathering and the Influence of Crypto
Montenegro hosted a summer gathering, Zuzalu, that brought together individuals involved in the worlds of crypto, AI, and longevity. The event showcased the intersection of these fields, as well as the growing influence of crypto money in funding longevity research. This blending of interests and the emergence of temporary cities and special economic zones designed to support experimental treatments and regulations underscore the pursuit of longevity and the desire for a future where immortality is possible.
Holiday Travel and Travel Trends Amidst COVID
Despite the risks of COVID, holiday travel has not been dampened, with TSA checkpoint data showing higher numbers than in 2019. The best and worst days to travel this holiday season are currently in progress, with heavy traffic expected on the 28th, 29th, and the day after New Year's. Consumers are spreading out their travel and taking advantage of more flexible schedules, looking for bargains in destinations like Canada and Mexico. Domestic areas like Orlando and major metro areas are also popular, while Europe is seeing reduced traffic due to the strong dollar.
The State of Crypto and the Outlook for Bitcoin ETFs
Cryptocurrency, particularly Bitcoin, has experienced a resurgence with the anticipation of SEC approval for a Bitcoin ETF. The approval of an ETF is seen as a positive catalyst for the crypto market. While there has been speculation and hedging in the options market regarding the approval, there is optimism that the SEC will approve Bitcoin ETFs in early 2024. The regulatory framework and uncertainty in the crypto industry are factors to consider, but overall, there is growing interest from asset managers and increasing availability of investment options in the space.
Laura Chico, Biotechnology Research Analyst at Wedbush Securities and Bloomberg News US Deals Team Leader Matthew Monks share their thoughts on the Bristol Myers acquisition Karuna Therapeutics. John Mowrey, CIO at NFJ Investment Group, explains where to find value in the markets. Priceline CEO Brett Keller talks about why 2023 is on pace to be a busy holiday travel season. Anna Kooi, National Financial Services Industry Leader at Wipfli, has a look at the year in crypto and her outlook for 2024. Bloomberg Businessweek Editor Joel Weber and Bloomberg News Tech Features Writer Ellen Huet provide the details of the Businessweek Magazine story Silicon Valley’s Quest to Live Forever Has Many Warring Factions. And we Drive to the Close with Adam Sarhan, CEO at 50 Park Investments. Hosts: Jess Menton and Mike Regan. Producer: Paul Brennan.
