01/14/2024: Commercial Real Estate and Master of the Mind
Jan 15, 2024
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Discover the crisis in commercial real estate, particularly in New York City's office sector, due to hybrid work becoming the new normal. Learn about the challenges faced by the industry and how professionals are navigating the decline in office building value. Explore a groundbreaking approach to brain surgery that could revolutionize the treatment of Alzheimer's disease and drug addiction without incisions. Dive into the results of clinical trials that are changing the lives of patients and offering hope to others with brain disorders.
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Quick takeaways
The crisis in commercial real estate, particularly in New York City's office sector, is a growing problem nationwide as occupancy rates hit historic lows and interest rates spike.
Dr. Ali Rezai's groundbreaking approach to brain surgery using ultrasound shows promising results in slowing the progression of Alzheimer's disease and reducing addiction symptoms.
Deep dives
Rocket Money: Saving Money by Cancelling Unwanted Subscriptions
Rocket Money is a personal finance app that helps users cancel unwanted subscriptions, monitor spending, and reduce bills. With over 5 million users, it has saved members an average of $720 a year by canceling over 500 million dollars in subscriptions.
New York City's Office Space Crisis
New York City is facing an office space crisis, with over 95 million square feet of office space currently unoccupied, equivalent to 30 Empire State Buildings. This post-COVID world, coupled with higher interest rates and changing work and living habits, has created a different and turbulent real estate landscape.
Using Ultrasound to Treat Alzheimer's Disease
Dr. Ollie Razai, a neuroscience pioneer, is using ultrasound to slow the progression of Alzheimer's disease. By opening the blood-brain barrier and using targeted ultrasound waves, beta-amyloid plaques, which are associated with Alzheimer's, can be significantly reduced. While not a cure, this innovative approach shows promise in delaying cognitive decline.
Using Ultrasound to Treat Severe Addiction
Dr. Ollie Razai and his team are using focused ultrasound to treat severe addiction. By stimulating specific areas of the brain associated with cravings and anxiety, ultrasound waves can reset brain activity and reduce addiction symptoms. Early results have shown positive impacts, helping patients manage cravings and anxiety in conjunction with therapy.
With hybrid work hardening from trend to new normal, correspondent Jon Wertheim looks at the crisis in commercial real estate, specifically in New York City's office sector. As occupancy rates have hit historic lows and interest rates have spiked, the value of office buildings is tanking. It's a growing problem nationwide, with more than a trillion dollars in commercial real estate loans set to expire in the next two years. Wertheim speaks with industry players about how they're staying afloat in a sector of the economy that's been rocked to its foundations. Correspondent Sharyn Alfonsi reports on a groundbreaking approach to brain surgery that could revolutionize the treatment of Alzheimer’s disease and drug addiction without any incisions. Alfonsi follows neuroscience pioneer Dr. Ali Rezai for more than a year as he tests experimental procedures at the Rockefeller Neuroscience Institute in Morgantown, West Virginia. The results of Rezai’s clinical trials are changing the lives of his patients and may offer hope to others suffering from brain disorders.