| |
| Hey Insiders, It's Wednesday, and the Federal Reserve halted any rate hike at today's meeting. What does it mean for the rest of the year? We dive into that and what the future sales projections are for Ozempic and Berberine supplements. Keep us in the loop with what you're interested in reading more about! Christopher
p/chris951156 | |
| 1 | | A major step toward regulating AI just was taken as the European Union passed one of the first major laws on the subject. The European Parliament, the main legislative branch of the EU, voted to pass the AI Act, which puts new restrictions on the strictest uses of AI. More: - This will severely minimize the use of facial recognition technology and software and will require makers of AI systems, such as ChatGPT, to disclose data on how the programs are created.
- A final version of the law is not expected to be passed until later this year.
- The EU is farther along than the U.S. and other countries in these regards, as the 27-nation bloc debated this topic for the past two years.
- Once ChatGPT was released, the discussions picked up in earnest.
- This could send a chain reaction through governments worldwide to race to control AI technology in other countries.
|     | |
| 2 | | 
What the data says: Ozempic, the antidiabetic medication, has seen its projections go through the roof after it became a popular drug to take for weight loss. It is forecasted to reach more than $17B in sales by 2029 after registering around $9B in sales in 2022. The jump from last year to this year is projected to be a 23% increase to around $12.5B. Relevance: Ever since users realized that one of Ozempic's side effects was weight loss, its popularity grew so much that those with diabetes had trouble finding it. Berberine is a cheaper, natural alternative that some have dubbed "nature's Ozempic." It is a bright yellow compound that can be extracted from the stem, roots, and bark of a variety of plant species. It is available in the U.S. from many different manufacturers, leading some to choose it over trying to find Ozempic. Other projections: The studies about it causing weight loss are limited. But the berberine market is expected to grow exponentially over the next 10 years. In 2022, the berberine supplements market was estimated at $885M. It's expected to grow to $2.1B by 2033. | | | |
| A message from our sponsor, Linqto. |  | | Ripple is significantly transforming the future of financial transactions. Leveraging blockchain technology, it's enhancing international transfers by making them swifter, more affordable, and more reliable through its decentralized infrastructure. RippleNet, its cutting-edge solution, has connected over 300 financial institutions across 40 countries to facilitate seamless real-time settlements, improving liquidity and lowering transaction costs substantially. Further, Ripple's strategic expansions and acquisitions, like the recent $250 million purchase of a Swiss crypto custody provider, Metaco, underline its ambitious vision for the future. As blockchain technology continues to disrupt mainstream finance, Ripple's consistent innovation solidifies its place at the vanguard of this evolution. Through Linqto, you have the unique opportunity to invest in Ripple and be a part of the ongoing revolution in global finance that it is spearheading. - Global Network: RippleNet connects 300+ financial institutions across 40 countries, streamlining cross-border transactions.
- Cost-Efficiency: Ripple's technology significantly lowers transaction costs, improving the affordability of international transfers.
- Transaction Speed: Ripple reduces settlement times to seconds, far surpassing traditional banking methods that often take days.
Growth Strategy: Ripple's recent $250 million acquisition demonstrates its commitment to expanding services and influence in the blockchain sector. Invest in Ripple Today | |
|
| 3 | | After a year of massive growth in the U.S., bargain shopping app Temu passed rival Shein in sales. Temu had a 20% higher revenue in May than Shein, according to Bloomberg Second Measure. More: - Temu is an e-commerce marketplace backed by Chinese company PDD Holdings Inc.
- Temu has been the top iOS app for much of 2023, based on metrics including downloads, engagement, and retention.
- It had more global downloads in the six months after its launch than any other shopping app.
- It is projected to pass Shein in terms of gross merchandising value in a day by September 2023, which would be the year anniversary of its debut.
- Overall, Amazon is still the top shopping app in the U.S.
| | | |
| 4 | | The Federal Reserve announced that it would not hike interest rates in June, but warned that it would still be inclined to raise interest rates in the future to combat inflation. It is the first time since January that the monthly meeting ended without a rate hike. More: - It maintained its benchmark interest rate in the range of 5%-5.25%.
- Fed officials did say the forecasts for the interest rates for the year were raised, meaning that Americans could see rates of 5.6%.
- That would mean at least two more rate hikes would happen this year.
- Some officials projected it could hit 6%.
- The Fed had raised rates at 10 consecutive meetings through May, going from 0%-0.25% to 5%-5.25%, the highest it's been since 2007, in just 14 months.
| | | |
| A message from our sponsor, AE Studio. |  | | Work with AE's world-class team to accomplish your goals faster than the competition! With AE's data scientists - from places like Stanford, CalTech and MIT you will: ✅ Achieve rapid success with tailored Minimum Viable Products. ✅ Drive innovation through Enterprise Digital Transformation Initiatives. ✅ Maximize ROI with Custom AI/ML Solutions designed for your business. Unlock Your Business Potential | |
|
| 5 | | Modelo, a Constellation Brands brand, took the top spot in the U.S. beer market in May as it beat out Anheuser-Busch InBev's Bud Light. Modelo took 8.4% of beer sales from retail stores for the four weeks in May, with Bud Light getting 7.3%. More: - Bud Light's sales fell 24.6% YoY for the period, and Modelo's sales jumped 10.2% during that time.
- Still, Bud Light leads in sales for the year.
- This all comes amidst the backlash to Bud Light after an anti-LGBTQ+ campaign was lobbied at the company for an inclusive ad it ran with transgender influencer Dylan Mulvaney.
- Bud Light then did not defend the promotion of the ad, angering LGBTQ+ allies.
- The boycott of Bud Light has proven positive for its competitors, as Modelo overtook the top spot.
- Although Constellation Brands own Modelo in the U.S., it's owned by Anheuser-Busch InBev in the rest of the world.
| | | |
| 6 | | Members of the U.S. health insurance industry saw their shares plummet after UnitedHealth, one of the biggest listed companies, warned that an increase in non-urgent procedures was driving up costs. Thanks to patients putting off procedures during the COVID-19 pandemic, UnitedHealth and other insurers benefitted greatly. More: - Now, seniors and other patients are electing to go through with their delayed non-urgent procedures, causing the insurance companies to cover more.
- Seniors are now "more comfortable accessing services for things that they might have pushed off a bit, like knees and hips," said Tim Noel, who leads UnitedHealth's Medicare and retirement business,
- UnitedHealth is valued at more than $400B.
- It saw its shares drop more than 7% while fellow insurers Humana, CVS Health, and Cigna all saw decreases of 12%, 6%, and 4%, respectively.
| | | |
| 7 | | Quick Hits: - This ultimate guide covers partnership marketing fundamentals, best practices, and key things to consider when choosing the perfect partnership platform.*
- Toyota shareholders re-elected Akio Toyoda as the company's president at its annual meeting.
- The New York Times dove into the mass exodus by retailers from San Francisco's downtown malls.
- Brussels has charged Google with abusing its positioning in an antitrust case.
- Learn why leading investors have called whiskey casks the ultimate safe-haven investment. Start Investing.*
*This is a sponsored post. | | | |
| Upcoming Events | | JUN
14 | | Monthly Meditation guided by Nicholas Whitaker | | | | | | | JUN
15 | | Transform your product roadmap with AI @ A.Team's Generative AI Salon* | | | | | | | JUN
20 | | Contract Negotiations 101 with Mathew Kerbis | | | | | | * This is a sponsored event | | | |
Term of the Day Customer Retention: Customer retention is the process of keeping customers loyal to a business and its products or services Question of the Week What's the most bizarre work-related dream you've ever had? Join the conversation |
INSIDE BUSINESS LEADERBOARD (7 DAYS) |
 | Freelance Editor | | Christopher Hachey is a freelance writer and editor based in the New York City area. He has spent most of the past 15 years in newsrooms covering all kinds of topics like sports, tech, business, finance, and commerce. He's now returning to his broadcast journalism roots by diving into podcasting news. Reach out to him at chris@inside.com | | This newsletter was edited by Aaron Crutchfield | |
| |
 | Get Started In Private Equity, With Linqto. | |
|
| |
|
| |
