#8 Edition of The Daily Grind

In today’s newsletter:

• Weight loss drugs are the new luxury goods: Novo Nordisk has overthrown LVMH for the spot of Europe’s most valuable company.

• ChatGPT in U.S. classrooms

• India to be renamed as “Bharat“?

• Stake.com gets hacked for $40million+ and a bunch more….

Weight loss drugs are the new luxury goods

Danish pharmaceutical giant Novo Nordisk has dethroned LVMH as Europe's most valuable company thanks to the success of its weight loss drug, Wegovy. Here are the key points:

• Novo Nordisk's launch of Wegovy in the UK sparked a 0.7% share price increase, putting its market value to £340billion($428 billion), surpassing the entire Danish economy's worth (£323billion).

• LVMH dipped 0.4% to a market value of £331 billion($419 billion). It briefly lost its top spot to Novo Nordisk on Friday. Novo Nordisk extended its lead as shares boomed by 1.6% while LVMH experienced a 1% decline the following day.

• The high demand for Wegovy has led to shortages. The drug designed for obesity treatment is available on the NHS and in pharmacies.

• Prices range from £73.25 to £175.80 per month in the UK(which is still cheaper than USA). Some insurers like Aviva, Axa, and WPA don't cover Wegovy due to its classification as a chronic condition treatment.

• Novo Nordisk dominates the diabetes and weight loss drug market, with analysts predicting annual sales of reach over £80billion.

Novo Nordisk's Wegovy has surged to the top of Europe's corporate ladder, but we all wish it were available everywhere ASAP to make the cutting phase a whole lot easier.

ChatGPT in U.S. classrooms.

US educators are embracing ChatGPT as they gear up for the new school year. Initially, some districts banned it, fearing AI-generated content in student essays. However, three-quarters of K-12 educators now see the importance of teaching AI skills, according to EdWeek Research Center survey. New York City lifted restrictions in May, and LA is following suit.

ChatGPT is seen as a brainpower booster, helping with tedious tasks and freeing up space for higher-level thinking. Personalized tutoring with AI tools like Khanmigo and Khan Academy beta mode AI tool are gaining traction, offering assistance with math problems and even virtual chats with historical figures.

But, there are concerns about cheating and plagiarism due to unreliable AI-generated content detectors. Educators may rely on live proctoring or in-person assessments to address these issues. It's a new school year with exciting AI opportunities, but vigilance remains key.

SNIPPETS

• China to launch $40 billion state fund to boost chip industry.

• Asia stocks fall as global growth concerns mount.

• Stake.com (a popular crypto gambling site) got hacked for ~$41.3M yesterday. The crypto-gambling site suffered a “private key leak” and was drained across 3 different blockchains.

• The London Stock Exchange is considering launching a new blockchain-based market exchange. The goal? Make buying, selling, and holding traditional assets easier with blockchain technology.

• India to be renamed as “Bharat”? Government replaces country’s name with Bharat in G20 dinner invite.

• Meta considers new subscription which would enable EU users to eliminate ads.

COOL SHIT

• To watch: Bitcoin mining in the land of fire and ice- Bloomberg.

• How to master the Twitter algorithm change.

• The Reddit community that I've been on lately is r/Nootropics, where they discuss cognitive enhancers.

• Twitter(Elon) will file a defamation suit against the Anti-Defamation League, blaming them for a 60% revenue drop.