• The United States has approved the world’s first CRISPR gene-editing drug. This drug, developed by Vertex Pharmaceuticals and CRISPR Therapeutics, will be used to treat sickle-cell disease.

• The European Union has agreed on a landmark regulatory framework for Artificial Intelligence.

• Spotify has announced more than 1,500 job cuts, which represents about 17% of their global workforce.

• The streaming giants continue their push for live sports. Amazon Prime announced a deal with the ICC to televise all Cricket World Cups and other ICC tournaments.

• Apple is once again a $3 trillion company and is on track to end the year as the most valuable company for the 5th consecutive year

Why 2023 was the year of the e-bike and not the self-driving car

At the same of the year, both e-bikes and self-driving cars had momentum. E-Bikes were becoming more ubiquitous, brought to the mainstream by an ever-growing fleet of delivery riders, but becoming more and more popular for the everyday commute. There was also excitement around self-driving cars, particularly in the United States where Waymo had extended their robotaxi service from Phoenix, Arizona to San Francisco and Cruise was also operating a robotaxi service in San Francisco.

Almost a year later, self-driving cars have lost their momentum. Robotaxi users and local residents are skeptical, investors are impatient but most importantly the government are fed up. Cruise had their driverless car permit pulled in California after a horrific crash.

This article tells the story of the year and assesses the state of the self-driving industry going into 2024. With Cruise’s CEO outsed after the crash and Cruise’s parent company General Motors announcing a reduction in investment in Cruise, one of the industry’s biggest players will be slowed next year.

On the other hand, e-bikes have continued to power ahead. Sales have grown despite an overall slowdown in bike sales. Now many American cities and states are instituting policies to encourage residents to switch their second car for an e-bike.

Company Deep Dive: Liberty Formula One

Investing in sports has been a particularly large theme over the past five years in markets around the world. The reason is simple, they keep outperforming. Buoyed by increased globalisation of media that is bringing in more-and-more fans and larger-and-larger TV rights deals, the value of sports teams and leagues has just continued to move in one direction.

This company deep dive takes a look at Liberty Formula One, the company that owns the Formula One. Since acquiring the racing league in 2017, Liberty have massively changed the sport. Starting with their publicity push, they have brought in a new generation of racing fans with the Netflix series Drive to Survive and opening the sport up on social media. They’ve also worked to increase revenue by introducing more races in lucrative cities, including the recent Las Vegas Grand Prix.

The question becomes, is Formula One a good investment today? That is what this deep dive sets out to answer. With more mass media coming - including an F1 movie with Brad Pitt - and opportunities to grow revenue, especially by growing fans in the most lucrative sports market, the United States, the authors think there is opportunity in Liberty Formula One. As investors, it’s our job to think critically about their argument and decide if we agree with them.

Help your family and friends start 2024 on the right financial foot

America’s Love Affair with Adderall

Earlier this year America’s Food & Drug Administration declared a nationwide shortage of Adderall, the drug used by people with ADD and ADHD. More than 19 million people in America, both adults and children, are estimated to have an adderall perspection.

There are a variety of reasons for the shortage. Teva, a major manufacturer of the drug, points to restrictions from the US government. The US government point to manufacturing delays at Teva. Both of them also point to the rapid increase in Adderall perscriptions in recent years.

With the shortage, people are turning to black market versions despite the Drug Enforcement Agency recently warning they might contain “potentially life-threatening hidden ingredients, such as fentanyl or methamphetamine.” This isn’t an empty threat by an anti-drug agency, last year, two university students in Ohio died after taking counterfeit Adderall laced with fentanyl.

This article profiles America’s love affair with Adderall and what is happening now that millions of Americans cannot get their prescriptions filled.

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