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The firm developed a propriety model that uses AI to predict which early-stage startups are most likely to become unicorns, which are companies valued at more than a billion dollars. "Our AI eliminates about 99% of all early-stage companies from consideration, because our data predicts these companies have a higher probability of failure." Another surprising thing about TRAC's model is it does not value founders as predictive. "Similar vintage early-stage VCs would have had upwards of 20% of their portfolio be false positive within the first few years. Here are the 30 companies TRAC's model identified as being the next unicorns, in alphabetical order, all with a valuation of less than $250 million.
Persons: Fred Campbell, Joseph Aaron, Scott Pyne, Steve Marek, Dick Fredericks, Aaron, Sam Altman, MBAs, Angel SuperForecasters, Campbell Locations: San Francisco
Recent research found that fully remote workers were less productive than office workers. A recent analysis of multiple studies by the Stanford economist Nick Bloom, a leading remote-work expert, found that fully remote workers were 10% to 20% less productive than their in-office counterparts. But the research has found, on average, those working in the office at least some of the time are more productive . Even Zoom, which is synonymous with remote work, recently called some employees back to the office for at least two days a week. Bloom recently estimated 60% of Americans worked fully in person, 30% worked in person between one and four days per week, and 10% worked fully remotely.
Persons: Nick Bloom, Mark Zuckerberg, Marc Benioff, Jeff Moriarty, Moriarty, he's, Kate Ecke, Ecke, telehealth, it's, Raj Choudhury, Stanford's Bloom, Bloom Organizations: Service, National Bureau of Economic Research, Stanford, Bureau of Labor Statistics —, Meta, Harvard Business School Locations: Wall, Silicon, India, Chicago, New Jersey
A landmark study of the cardiovascular benefits of weight loss drug Wegovy is being seen as a pivotal step toward broadening access to these drugs. The drug, also known as tirzepatide, is expected to be approved for weight loss by the Food and Drug Administration by year-end. Notably, Medicare does reimburse obese patients for weight loss surgery, but Mounjaro has been able to help patients realize an average weight loss that approaches the typical success of bariatric procedures. If CMS is able to reimburse patients for weight loss treatment that would significantly increase access, boosting sales. "This is the first time a weight [loss] medicinal intervention has shown to have cardiovascular risk reduction.
Persons: enrollees, Eli Lilly, Lilly, Akash Tewari, NVO, Tewari, Wells, Mounjaro, Mohit Bansal, Robert Califf, Goldman Sachs, Chris Shibutani, Shibutani, Goldman, Refinitiv, Morgan Stanley, comorbidities, Bansal Organizations: Nordisk's Ozempic, Centers for Disease Control, Food and Drug Administration, Jefferies, Medicare, Services, GLP, STAT, Goldman, Lilly, Novo Nordisk, BMI, Novo Locations: U.S, GLP, Tuesday's
The Tesla Model 3 and Y are some of his top picks, even though tons of new rivals have hit the map. Despite intensifying competition from big-name brands, Elon Musk's carmaker still makes some of the best electric vehicles out there, according to one of the internet's biggest car reviewers. Doug DeMuro, whose YouTube channel has racked up 4.7 million subscribers, told Insider that Tesla's Model 3 and Model Y are some of his go-to recommendations for EV-curious car buyers. The Model 3 sedan offers up to 333 miles of range, per the EPA, while the Model Y SUV provides up to 330 miles. It's $40,240 for the Model Y.
Persons: Doug DeMuro chatted, Tesla, Elon Musk's carmaker, Doug DeMuro, DeMuro, They're, Kelley, Kia EV6 Organizations: Tesla, Morning, Elon, EV, Hyundai, Ford
How Well Do You Know Your Baseball Hall of Famers?
  + stars: | 2023-07-19 | by ( Tyler Kepner | ) www.nytimes.com   time to read: 1 min
There has always been an art to the language used on the plaques at the National Baseball Hall of Fame and Museum in Cooperstown, N.Y. The language, however, has evolved over the years, from spartan descriptions in the early days to stat-stuffed entries in more recent years. The plaques for this year’s Hall of Famers, Scott Rolen and Fred McGriff, will be revealed this weekend, and they will surely tell tales of Rolen’s fielding prowess and McGriff’s consistent power. But how identifiable are other Hall of Famers based on what was written about them? To test that, we are asking you to pick the Hall of Famer based on how he is described in the first line of his plaque.
Persons: Scott Rolen, Fred McGriff Organizations: National Baseball Hall of Fame, of Famers, of Famer Locations: Cooperstown, N.Y
Tesla rival BYD is exploring a new method of lithium mining in Chile, Bloomberg reported Tuesday. The Chinese firm aims to use a more direct way to extract lithium from Chilean salt flats. A BYD exec said the company plans to offer local patents and build up the industry in Chile. The goal would be for the company to establish in Chile the same direct lithium extraction, or DLE, method used in China, Li said. "BYD is ready to bring advanced DLE technology to Chile, and also we will develop R&D patents locally and offer free patents to the Chilean government to help Chile build up this industry," Li told Bloomberg.
Persons: , BYD, Stella Li, Li, Elon Musk's Tesla, Tesla Organizations: Bloomberg, Service, Benchmark Mineral Intelligence, Elon, Wall Locations: Chile, China
Japan's jobless rate flat at 2.6% in May
  + stars: | 2023-06-29 | by ( ) www.reuters.com   time to read: 1 min
TOKYO, June 30 (Reuters) - Japan's jobless rate was flat at 2.6% in May from the previous month, government data showed on Friday. The seasonally adjusted unemployment rate also matched economists' median forecast of 2.6% in a Reuters poll. The jobs-to-applicants ratio slipped to 1.31 from 1.32 in April, separate labour ministry data showed. For a table on the jobless data, go to the internal affairs ministry's website: http://www.stat.go.jp/english/data/roudou/index.html(Note: The jobs-to-applicants ratio and new job offers can be seen in Japanese on the labour ministry's website)Reporting by Kentaro Sugiyama and Kaori Kaneko; Writing by Kantaro Komiya; Editing by Jacqueline WongOur Standards: The Thomson Reuters Trust Principles.
Persons: Kentaro Sugiyama, Kaori Kaneko, Kantaro Komiya, Jacqueline Wong Organizations: Thomson Locations: TOKYO
Illumina starts job cuts, plans office exit to rein in costs
  + stars: | 2023-06-26 | by ( ) www.reuters.com   time to read: +1 min
Illumina has begun to lay off 10% of its research and development team, health news website STAT reported on Monday, citing internal emails. Illumina, which had engaged in a proxy battle with activist investor Carl Icahn, earlier this month said CEO Francis deSouza had stepped down. The reduction in workforce commenced on June 21 and will result in charges of about $25 to $35 million, the company said, with majority incurred in the second quarter. Illumina's core global workforce comprised about 10,200 full-time employees as of Jan. 1, according to a regulatory filing. Reporting by Khushi Mandowara in Bengaluru; Editing by Sriraj Kalluvila and Maju SamuelOur Standards: The Thomson Reuters Trust Principles.
Persons: Illumina, Carl Icahn, Francis deSouza, Khushi, Sriraj Kalluvila, Maju Samuel Organizations: Illumina, Thomson Locations: California, Bengaluru
FedEx's massive overhaul is showing early signs of success but package volumes are still down. For the year ahead, FedEx expects moderate revenue growth of between 1% and 3% year over year. FedEx is expecting package volumes to finally bounce back after five straight quarters of declines. FedEx's guidance for the next 12 months includes moderate revenue growth, somewhere between 1% and 3% year over year. "Green shoots," or signs of potential revenue growth, are beginning to show in Europe however, she said.
Persons: We're, Raj Subramanian, Morgan Stanley, Brie Carere, Carere, hasn't, Jason Furman, Mike Lenz, Subramanian Organizations: FedEx, Tuesday, Target, Harvard Locations: Europe, North America, Trans
An American flag hangs behind traders working on the floor of the New York Stock Exchange (NYSE) on October 11, 2019 in New York City. Morgan Stanley, for example, has adopted a downbeat view for the months ahead. Falling prices, Morgan Stanley explained, can cut into revenue growth and weigh on earnings. "This should begin to hit asset prices by the end of this month and carry into the fall," Morgan Stanley strategists said. To Stockton, the S&P 500 could soon trade as high as 4,510, or about 3% higher than current levels.
Persons: I'm Phil Rosen, Jerome Powell, Drew Angerer, Morgan Stanley, Mike Wilson, Katie Stockton, Stockton, Morgan Stanley's bearishness, Rick Bowmer, Tom Lee, Phil Rosen, Jason Ma, Hallam Bullock Organizations: Capitol, Financial Services, Committee, Fed, New York Stock Exchange, NYSE, Advance, Bank of England, Patterson Companies, Winnebago Industries, Bloomberg, Manheim Locations: American, New York City, Stockton, Salt Lake City, London, China, Europe, New York, Los Angeles
Pew Research Center analyzed 451 top-ranked podcasts in the US. When it comes to top-ranked shows, the adoption of video is split down the middle. A new study from Pew Research Center, released on Thursday, found that just over half (51%) of the top-ranked podcasts in the US have a video component. Half of top-ranked podcasts have a video component51% of the podcasts Pew analyzed release a video version, almost always on YouTube — 97% of podcasts with a video component publish it there. Roughly half of top-ranked podcasts seek audience supportAround half of top-ranked podcasts (47%) ask their audiences to support them by offering options like subscriptions, donations, or merch.
Persons: Galen Stocking, Pew, Joe Rogan, Stocking, Emma Chamberlain, Alex Cooper Organizations: Pew Research Center, YouTube, Edison Research, Apple, Spotify Locations: Gimlet
A lot of moving parts today — we've got stories on Tesla, Microsoft, housing and more. Pretty much everyone with a mortgage is paying a lower rate than what's being offered today. That's compared to about 6.7% you can expect to pay on a new 30-year home loan today. Elon Musk has been shirking rent payments for Twitter, and that's creating problems for Goldman Sachs. She bought a home in Detroit for $6,300 — then figured out how to scale to 35 units and achieve financial freedom.
Persons: I'm Phil Rosen, we've, Let's, Elon Musk, Goldman Sachs, Musk, they're, Javier Milei, Jeff Bezos, Phil Rosen, Max Adams Organizations: Microsoft, Twitter, Columbia Property, Miami University, Elon Locations: Redfin, Detroit, Russia's, Argentina, New York
Pew Research Center analyzed 451 top-ranked podcasts in the US. When it comes to top-ranked shows, the adoption of video is split down the middle. A new study from Pew Research Center, released on Thursday, found that just over half (51%) of the top-ranked podcasts in the US have a video component. Half of top-ranked podcasts have a video component51% of the podcasts Pew analyzed release a video version, almost always on YouTube — 97% of podcasts with a video component publish it there. Roughly half of top-ranked podcasts seek audience supportAround half of top-ranked podcasts (47%) ask their audiences to support them by offering options like subscriptions, donations, or merch.
Persons: Galen Stocking, Pew, Joe Rogan, Stocking, Emma Chamberlain, Alex Cooper Organizations: Pew Research Center, YouTube, Edison Research, Apple, Spotify Locations: Gimlet
The biotech company Biogen is revamping its board of directors. The nominee, Susan Langer, is "highly qualified", Biogen said. Biogen, the $44-billion biotech company known for its work in Alzheimer's, is refreshing its board of directors. Standing for election as a replacement is Susan Langer, a 32-year-old biotech exec and former Biogen employee. Langer, a graduate of Cornell University, is the daughter of the biotech billionaire Robert Langer, known for cofounding Moderna.
Persons: wasn't, Susan Langer, Biogen, Alex Denner, Denner, Langer, Stat, Jack Cox, Ms, Cox, Denner didn't, Langer couldn't, Robert Langer, she's Organizations: Morning, Stat, Board, Stat News, Cornell University, cofounding Moderna, Souffle Therapeutics Locations: Alzheimer's, Biogen
STAT Health sells an in-ear wearable that patients can use 24/7 to track blood flow. So when Lee's elderly father began having repeated fainting sessions, Lee turned to in-ear technology to help solve the problem. His brainchild is STAT Health, an 24/7 in-ear wearable that measures blood flow to the head to better understand symptoms such as dizziness, brain fog, headaches, fainting, and fatigue that occur while standing. STAT Health's in-ear wearable. The wearable was clinically tested at Johns Hopkins University and was shown to predict fainting in users minutes before it happens.
Persons: Long, Daniel Lee, Lee, Paul Jin Organizations: Health, J2 Ventures, BonAngels Venture Partners, STAT Health, Johns Hopkins University Locations: Bose
Digital health startup STAT Health has designed a device to help people better understand why they're experiencing symptoms like dizziness, fainting and brain fog. STAT Health on Tuesday announced its new in-ear wearable, the STAT, which measures blood flow to the head. Users can track their metrics in an app on their cellphone and glean insights into how their lifestyle choices affect their symptoms. "This population, a lot of doctors actually can't measure that anything is necessarily wrong with them," Lee told CNBC in an interview. Lee said the STAT will help give patients access to real-time insights to help them decide when they can push themselves, and when they should take it easy.
Persons: Daniel Lee, Lee, They're, it's, there's Organizations: Tuesday, American College of Cardiology, STAT, CNBC
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHere's what the FDA's endorsement of the Alzheimer's drug Leqembi means for BiogenMatt Herper, Stat News senior writer, joins 'Closing Bell: Overtime' to discuss the FDA advisers' unanimous vote to recommend Biogen Alzheimer's drug.
Persons: Matt Herper Organizations: Stat
NBA: Finals-Denver Nuggets at Miami Heat
  + stars: | 2023-06-09 | by ( ) www.reuters.com   time to read: +5 min
[1/5] Jun 7, 2023; Miami, Florida, USA; Denver Nuggets center Nikola Jokic (15) shoots the ball over Miami Heat guard Max Strus (31) during the third quarter in game three of the 2023 NBA Finals at Kaseya Center. Mandatory Credit: Jim Rassol-USA TODAY SportsJune 9 - The Denver Nuggets stand two victories away from their first NBA title, and their top two players are coming off historic performances. But the Nuggets remember their Game 2 home loss and know they will need to deliver a supreme effort on Friday night when they visit the Miami Heat in Game 4 of the NBA Finals. Denver holds a 2-1 edge in the best-of-seven series and is setting out to win back-to-back games in Miami. --The Nuggets have won eight of their past nine games against the Heat and have covered the spread in four consecutive road games.
Persons: Nikola Jokic, Max Strus, Jim Rassol, Jamal Murray, Jokic, Hall, Wilt Chamberlain, Kareem Abdul, Jabbar, Murray, Jeff Green, Jamal, Bam Adebayo, Adebayo, Tyler Herro, Erik Spoelstra, Herro, Jimmy Butler Organizations: Denver Nuggets, Miami Heat, Kaseya Center, NBA, Nuggets, Denver, Hall of Fame, Milwaukee Bucks, Miami, Boston Celtics, Eastern Conference, Thomson Locations: Miami , Florida, USA, Miami, BetMGM, BetRivers, Jokic, Denver
Jokic became the first player ever to log at least 30 points, 20 rebounds and 10 assists in an NBA Finals game. He made 12 of 21 shots and blocked two shots as Denver bounced back from a Game 2 home loss. Murray scored a game-high 34 points to go with 10 rebounds and 10 assists for the Nuggets, who controlled the contest. Jimmy Butler scored 28 points and Bam Adebayo added 22 points and 17 rebounds for the Heat, who trailed by as many as 21 points. Braun converted a three-point play with 8:45 left and made a floater 17 seconds later to push the Denver lead to 93-72 with 8:28 to play.
Persons: Kevin Love, Jamal Murray, Kyle Terada, Nikola Jokic, Jokic, Murray, Christian Braun, Aaron Gordon, Jimmy Butler, Bam Adebayo, Hall, Hall of Famers Wilt Chamberlain, Kareem Abdul, Jabbar, Caleb Martin, Gordon, Kentavious Caldwell, Pope, Braun, Adebayo Organizations: Miami Heat, Denver Nuggets, Kaseya Center, NBA, Denver, Nuggets, Miami, Hall of Famers, Heat, Thomson Locations: Miami , Florida, USA, Denver
Alo Yoga's "studio-to-street" fitness clothes are a hit with Gen Z and Gen Alpha, the Wall Street Journal reports. Segment leader Lululemon faces growing competition not just from upstarts like Alo, but also legacy brands like Nike. Alo Yoga is building a following among two key demographics, Gen Zers, loosely defined as those born between 1997 and 2012, and their younger counterparts, Gen Alpha, according to an article in The Wall Street Journal. Alo YogaAlo's growth was boosted by influencers and its digital rootsAlo Yoga started in Los Angeles in 2007. It's created openings for others beyond Alo, but Alo certainly has started to set itself apart as a power brand in its own right."
Persons: Alo Yoga's, Gen Z, Alpha, Alo, , Lululemon, Alo Yoga, Gen Zers, Gen Alpha, it's, I'd, Andrew Lipsman, Lipsman, Hailey Bieber, Bella Haddad, Budrul Chukrut, Danny Harris, Wall, It's, Lisman Organizations: Wall Street, Nike, Service, Street, Intelligence, influencers, Ford, GM, Chrysler Locations: Los Angeles, China, Alo
A Motorola exec said that one in five people buying a model of its foldable phone were iPhone users. Apple is rumored to be making — or at least investigating making — a foldable phone of its own. One in five people purchasing Motorola's Razr phone apparently gave up an iPhone to do so. Yi's comments came ahead of the June 23 release of the Razr Plus phone, which features a larger screen and starts at $999.99. Foldable phones are a blast from the pastAnd for all the retro energy of flip phones, there's no guarantee that younger buyers will embrace them.
Persons: Allison Yi, Yi's, it's, It's, Zers, Stephanie Elliot, Elliot Organizations: Motorola, CNET, Apple, Google, Samsung Locations: America
Japan's jobless rate falls to 2.6% in April
  + stars: | 2023-05-29 | by ( ) www.reuters.com   time to read: 1 min
TOKYO, May 30 (Reuters) - Japan's jobless rate fell to 2.6% in April from 2.8% in the previous month, government data showed on Tuesday. The seasonally adjusted unemployment rate was below economists' median forecast of 2.7% in a Reuters poll. The jobs-to-applicants ratio stood at 1.32, unchanged from March, labour ministry data showed. For a table on the jobless data, go to the internal affairs ministry's website: http://www.stat.go.jp/english/data/roudou/index.html(Note: The jobs-to-applicants ratio and new job offers can be seen in Japanese on the labour ministry's website)Reporting by Kentaro Sugiyama; Writing by Kaori Kaneko; Editing by Muralikumar AnantharamanOur Standards: The Thomson Reuters Trust Principles.
CNN —LeBron James proved he is human after all as the Los Angeles Lakers fell to a 108-103 Game 2 playoff loss against the Denver Nuggets. With the Lakers up by eight points early in the second, James had a clear run to the basket after being found by Rui Hachimura in transition. Jack Dempsey/APLeBron blowing the easy dunk was just one of the many uncharacteristic errors made by the 19-time All-Star in the Game 2 loss. After the game, James reflected on the 0-2 hole the Lakers find themselves in and said that it wasn’t the end of the world. To go with four steals, five assists and 10 rebounds, Murray scored an incredible 37 points in the huge win.
But 29% of U.S. corn areas and 21% of soybean areas are in a drought versus 21% and 12% a year ago, respectively. Some 48% of winter wheat areas are experiencing drought versus 68% a year ago, but 16% of it is currently under exceptional drought versus just 3% a year ago. That is despite decent conditions in soft red wheat states in the east. The Drought Monitor shows 64% of Kansas in extreme or worse drought this week, topped only by a stretch from July 2012 to March 2013 in records back to 2000. The latest Drought Monitor stats in the top corn state are almost identical to the same point in 2021, leading into Iowa’s record corn-yielding season.
Similarly, southeastern regional bank First Horizon was teetering, having scrapped a $13 billion merger with Canada’s TD bank. That market pessimism was echoed by Bill Ackman, the billionaire investor, who tweeted Thursday that regional banks broadly are in trouble. Without a miracle from DC, the outlook for regional banks is not great. There is so much pessimism percolating on Wall Street, smaller banks are going to get crushed. That means we can expect more bank failures, and more Wall Street panic, in the weeks and months ahead.
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