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Deflation could be coming this holiday season

Plus: YouTube tests a ‘play something’ button for when you don’t know what to watch

November 17, 2023

In Today’s Edition 

  • Joby, Volocopter fly electric air taxis over New York City 

  • Amputees say this bionic hand startup gives them both strength and grace

  • Google witness accidentally blurts out that Apple gets 36% cut of Safari deal

  • 10 hard-to-swallow truths they won't tell you about software engineer job 

  • YouTube tests a ‘play something’ button for when you don’t know what to watch

  • Crispr gene editing shown to permanently lower high cholesterol 

🚀Startups Nuts

Joby Aviation and Volocopter performed brief demonstration flights of their electric aircraft in New York City over the weekend. New York City Mayor Eric Adams wants to electrify two of the three heliports located in Manhattan. The city aims to reduce emissions by 80% from a 2005 baseline by 2025. Joby is aiming to initially roll out a commercial service in New York and Los Angeles as part of a city-to-airport service deal with Delta Airlines.

Aether Biomedical’s bionic hand, called the Zeus, can lift up to 77 pounds and switch between 12 different customizable grip patterns.On Monday, Aether announced it closed a $5.8 million funding round led by J2 Ventures and Story Ventures. The company is also working to get its devices to people who have been injured because of the war in Ukraine.

🏭Business Nuts 

Google pays Apple 36% of its search advertising revenue from Safari to keep its search engine set as the default. Google and Apple had objected to making this information public, but a witness from Google let it slip during their testimony. It is unclear how much money this amounts to, but it is estimated that Apple likely gets paid tens of billions of dollars out of the deal. Google pays a total of $26 billion for its default contracts.

Deflation could be coming, Walmart CEO Doug McMillon said. Prices have fallen, especially on general merchandise and on some key grocery items, he said. Yet the discounter struck a cautious tone, saying customers continue to watch their spending.

📱Tech Nuts

Many people enter the software engineering role because they see good pay, remote work, team building, and pizza parties - no one is telling them about the real things that software engineers actually do. This article aims to give those planning to enter the industry a dose of reality about the role. Some of the hard truths it covers include the fact that college doesn't prepare you for the job, developers rarely get greenfield projects, no one cares about clean code, and you will sometimes have to work with incompetent people.

YouTube is testing a new 'play something' button on its mobile app that directs users to a random video. The feature directs users to both YouTube Shorts and full-length videos. It is unclear whether the feature takes into account users' watch histories when picking videos. YouTube has been working on the feature since at least around May.

🎁Miscellaneous

A single infusion of a novel gene-editing treatment has been shown to reduce cholesterol in people with an inherited condition that causes extremely high LDL cholesterol levels. The treatment uses CRISPR to edit a gene in the liver. Gene editing could provide a longer-lasting option for treating hereditary high cholesterol compared to long-term medication. A lot of work still needs to be done to ensure that the treatment is safe.

💡What else are we reading and seeing?

  • How math built the modern world, which they probably didn’t teach you in calculus

  • Blockchains As Platforms: Benefits, Drawbacks, and Trade-Offs

  • Ken Griffin says WFH may fuel corporate job cuts

  • JPMorgan, Apollo reimagine wealth management with tokenization

  • Citi begins layoffs in Jane Fraser’s overhaul 

  • Private equity pay gains to slow

  • Tips to master the art of spontaneous speaking

  • 4 must-read business books for 2024

  • Decoding the millionaire mindset 

😎Fun Fact

The world's first ATM (Automated Teller Machine) was installed in Enfield, London, in 1967

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🐦Joke of the Day

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