| |
| Here are our top stories today: - 💰 The European Central Bank (ECB) raised interest rates for the 10th consecutive time
- 🛸 NASA has filled a new role: UFO research director
- 🎨 A van Gogh painting that was stolen more than three years ago has been recovered
And much more! If you find this newsletter useful, please share it with your friends and colleagues. Thank you! Your faithful IDB writer, Daniel
p/Dan-Smith | |
| 1 | | The European Central Bank (ECB) raised borowing costs for the 10th consecutive time, bringing its key interest rate to a record high of 4%. ECB president Christine Lagarde said that rising energy costs would likely keep inflation higher for longer, with the ECB increasing its inflation projections for 2023 and 2024. More: - The ECB projects that Eurozone inflation will average 5.6% in 2023 and 3.2% in 2024, both of which were higher than ECB estimates published in June.
- Core inflation projections, which exclude food and energy costs, were revised downward.
- The annual inflation rate in the Eurozone was 5.3% in both July and August.
- The ECB also expects economic growth in the EU to slow down, projecting 0.7% growth this year and 1% in 2024.
Zoom Out: - Many analysts expected the ECB to pause its rate-hiking campaign amid slowing inflation, as other leading central banks like the Federal Reserve did earlier this summer.
- The ECB indicated that this could be its last rate hike but did not rule out the possibility of more increases.
Q: Do you think the ECB and other major central banks are mostly done with their rate-hiking campaigns? Join the debate here. |     | |
| 2 | | Match Group (MTCH) saw its stock rise by over 4% on Tuesday after JPMorgan suggested that the dating app holding company is undervalued. 
What the numbers say: Match Group, which owns Tinder and other popular dating apps, saw its stock price fall more than 75% from its 2021 peak earlier this year. JPMorgan said that investors had become "too pessimistic on both the online dating market opportunity" and that Match is poised to deliver better-than-expected revenue growth in the coming quarters. JPMorgan projects that Match shares could hit $60 by the end of 2023. Relevance: Match Group's main public market competitor is Bumble, the dating app that requires women to send the first message to their matches. Bumble (BMBL) stock is up 2.5% on the day but has lost over 23% so far in 2023. | | | |
| A message from our sponsor, Symon.AI. |  | | Fuel Your Startup’s Growth with No-Code AI Data Analytics! Symon.AI brings a no-code platform with AI analytics to your fingertips. We help propel your startup’s growth trajectory. Expand your growth with Symon.AI: - Dive deep into datasets & unlock growth-driven insights.
- Harness the power of machine learning, no data expert is required.
- Collaborate, share, and translate data into actionable strategies.
- Elevate your startup’s growth story, trusted by leaders in North America & Europe.
Eager to witness the transformation? Explore Symon.AI’s intuitive tools & experience growth like never before!
Get Started for Free | |
|
| 3 | | NASA has hired a UFO research director. The announcement of the new role coincided with the publication of a report urging the agency to increase research efforts into unidentified anomalous phenomena (UAP). More: - The report, released on Thursday, argues that NASA should collaborate with other government agencies to collect and analyze data on UAPs.
- Bill Nelson, NASA's administrator, said the agency would "do this work transparently for the benefit of humanity."
- NASA did not reveal the identity of its new UFO research director because panel members who worked on the report were harassed and threatened by members of the public, officials said.
- The report suggested that machine learning (ML) and artificial intelligence (AI) could be used to parse through data gathered to study UAPs.
Zoom Out: - According to experts, imagery showing UAPs is often low-quality, which undermines efforts to study UFOs.
- Formalizing UAP research under NASA will help the federal government to develop a "systematic, evidenced-based framework for UAP[s]."
| | | |
| 4 | | GOOD NEWS: A Vincent van Gogh painting that was stolen from a Dutch museum in March 2020 has been recovered. The Groninger Museum said that a Dutch art detective named Arthur Brand played a "key role" in recovering "The Parsonage Garden at Nuenen in Spring." More: - The painting belongs to the Groninger Museum but was on loan at the Singer Laren Museum when it was stolen during an overnight raid.
- The Groninger Museum said the painting had "suffered" but it was in good condition.
- Scientists will examine the painting over the next months while it's being temporarily held at the Van Gogh Museum in Amsterdam.
- Brand said that in June 2020 he received "proof-of-life" photos of the painting that had been circulating in Mafia circles.
Check out today's Art of the Day to see the painting. | | | |
| A message from our sponsor, Masterworks. |  | | 2,478 everyday investors shared a $1,123,615 net profit on this Claude Monet Now you might be thinking: “what the heck are you talking about?” But keep reading, because this investment platform's users are already smiling all the way to the bank. Thanks to Masterworks, the award winning platform for investing in blue-chip art. Every single one of Masterworks’ 14 sales has returned a profit to investors, for a 100% positive net return track record. With 3 recent sales, Masterworks investors realized net annualized returns of 17.8%, 21.5% and 35%. How does it work? Simple, Masterworks does all of the heavy lifting like finding the painting, buying it, storing it, and eventually selling it. It files each offering with the SEC so that nearly anyone can invest in highly coveted artworks for just a fraction of the price of the entire piece. Shares of every offering are limited, but Inside readers can skip the waitlist with this exclusive link. Skip The Waitlist See important disclosures at masterworks.com/cd | |
|
| 5 | | According to The Wall Street Journal (WSJ), ExxonMobil executives tried to downplay the effects of climate change during the tenure of former CEO Rex Tillerson. The revelations, based on internal documents from Exxon, back previous reporting showing that oil and gas firms have invested heavily in contesting the science behind climate change to preserve their business interests. More: - Tillerson became Exxon's CEO in 2006. That year Exxon acknowledged, for the first time, that fossil fuel emissions are the main cause of climate change.
- Over the next ten years, Exxon executives sought to push back against the notion that humanity should limit its use of fossil fuels in order to slow the rate of climate change.
- In 2012, Tillerson told Exxon research staff to "influence" the UN climate change panel, which that year warned that carbon emissions could cause a climate catastrophe.
- The following year, another Exxon executive ordered staff to "push back hard" against environmentalists who were opposed to Exxon's drilling operations in the Arctic.
- The goal of such a pushback was to "de-couple climate change and the Arctic" in public narratives.
Zoom Out: - A study published last year concluded that Exxon climate modelers accurately predicted global warming trends as early as the 1970s.
- Starting in the late 1980s, Exxon stopped supporting internal climate research as part of an effort to focus on "science to support our business" rather than broader scientific inquiry.
| | | |
| 6 | | Drug overdose deaths involving a combination of fentanyl and stimulants like cocaine and methamphetamine have surged since 2010, a new study found. The paper says that the increase in polysubstance overdoses has caused a "fourth wave" of deaths in the decades-long opioid crisis in the U.S. More: - The number of overdoses involving the combination of fentanyl and a stimulant has risen by 50x since 2010.
- Such overdoses account for 32% of the total, which translates to nearly 35,000 overdose deaths annually.
- Chelsea Shover, a UCLA professor who was the study's senior author, urged health officials to get serious "about treating stimulant use disorder" in addition to opioid use disorders.
- The study, which looked at overdose data between 2010 and 2021, was published in the journal Addiction on Thursday.
Zoom Out: - The combination of opioids and stimulants puts the human body under extreme stress by simultaneously slowing and accelerating breathing and heart rate.
- Some drug users may choose to use stimulants and opioids simultaneously, while others sometimes ingest an illegal stimulant like cocaine without knowing that it is laced with fentanyl.
- The first wave of the opioid crisis occurred when opioid prescriptions became popular in the early 2000s, the second came with the resurgence in heroin use around 2010, and the third when fentanyl became widespread in 2013.
| | | |
| 7 | | QUICK HITS - Scale AI projects with NVIDIA GPUs. Enjoy per-minute billing. Secure your H100s & A100s today!*
- A new report from consultancy Wood Mackenzie estimates that governments and corporations will need to invest $2.7T to achieve global net zero emissions by 2050.
- Shares of computer chip design firm Arm surged by as much as ~20% after the company's initial public offering (IPO) on the Nasdaq on Thursday.
- Mitt Romney (R-UT) said he will retire from the Senate after his term ends in January 2025. He called on President Joe Biden and former President Donald Trump to "stand aside" to make room for a new generation of younger politicians.
- Birkenstock filed for an IPO on the New York Stock Exchange. Bloomberg reported that the German footwear company could be valued at more than $8B.
- Before launching your next influencer campaign, compare the latest cost metrics to your budget. Get the benchmarks in this blog.*
* This is a sponsored listing. | | | |
| |
Term of the Day Keyword stuffing: Keyword stuffing involves the inclusion of keywords into a website’s content unnaturally or repetitively to manipulate search engine algorithms. Question of the Week Do you share details about your salary with your coworkers? Join the conversation |
| Upcoming Events | | SEP
21 | | Join us for pitches, drinks and networking at HanaHaus in Palo Alto on September 21 at 6pm.* | | | | | | | OCT
16 | | Meet Our Fund 5, Building and Investing in AI | | | | | | * This is a sponsored event | | | |
INSIDE DAILY BRIEF LEADERBOARD (7 DAYS) |
 | Writer | | Dr. Daniel Smith is an Inside writer with a Ph.D. in Political Science from the University of Cambridge. Follow him on Twitter @DJS12321 or email him at Daniel@inside.com. | | This newsletter was edited by Eduardo Garcia | |
| |
 | Symon.AI empowers you with predictive and prescriptive insights using a no-code, data prep and AutoML platform. | |
|
 | Join 790,000+ people on the premier blue-chip art investing platform, Masterworks. Skip the waitlist.
| |
|
| |
Comments
Post a Comment