In Today’s Edition

• This is Instagram’s new Twitter competitor

• Lab-grown breast milk startup Biomilq aims to change infant nutrition — if it can release a product

• Meta reportedly wants to license Magic Leap’s AR technology

• How DAOs Can Be Worth More Dead Than Alive

• Apple Publishes First-Ever App Store Transparency Report

• Did Scientists Accidentally Invent an Anti-addiction Drug?

• The FDA just approved rub-on gene therapy that helps ‘butterfly’ children

🚀Startups Nuts

This is Instagram’s new Twitter competitor

Details about Instagram's new text-based app for conversations were recently leaked. Codenamed P92, the app will allow users to make text posts up to 500 characters long with attached links, photos, and videos. Meta will implement good moderation controls from the start. Users can log on with their Instagram IDs, and any blocked accounts will carry over to the new service. P92 will be compatible with other apps like Mastodon, likely through ActivityPub.

Lab-grown breast milk startup Biomilq aims to change infant nutrition — if it can release a product

Biomilq, a North Carolina-based startup, is working to recreate breast milk outside the body, a breakthrough that could change how infant nutrition is understood in America. The company’s seemingly niche innovation took on new resonance amid the infant-formula shortage, which demonstrated the frailty of that essential product. Before the company can take off, it must find its place in a contentious industry, navigate startup woes, and clear regulatory hurdles.

🏭Business Nuts

Meta reportedly wants to license Magic Leap’s AR technology

Meta and Magic Leap are in talks to sign a multi-year IP licensing and manufacturing pact. There are few details about the deal, but the potential partnership is not expected to produce a jointly developed headset. Magic Leap may be providing Meta access to some of its optical tech. It may also assist with the manufacturing of Meta devices. A post from Magic Leap's CEO late last year said that the company had received an incredible amount of interest in its IP and patented manufacturing process.

How DAOs Can Be Worth More Dead Than Alive

This thread explains how DAOs can become more valuable after dissolution, benefiting token holders. Some DAOs have faced "slow rug" situations, where funds are covertly drained over time, leading to their dissolution. For instance, Rook DAO and Fei's Tribe DAO shut down, benefiting token holders through substantial asset distributions. A group called Risk Free Value Raiders has been reportedly exploiting DAOs with treasury value lower than their token's market cap by voting to dissolve the DAO. Despite challenges and criticism, this strategy presents an intriguing arbitrage opportunity in DeFi.

📱Tech Nuts

Apple Publishes First-Ever App Store Transparency Report

Apple published its inaugural App Store Transparency Report on Friday. The company agreed to provide developers with the report as part of a lawsuit settlement in 2021. The report contains meaningful statistics about the app review process: the number of rejected apps, the number of customer and developer accounts deactivated, the number of apps removed from the App Store, data regarding search queries and results, and more. This article provides a summary of the data from the report. A link to the full report is available.

🎁Miscellaneous

Did Scientists Accidentally Invent an Anti-addiction Drug? 

Semaglutide is a weight loss drug that has recently skyrocketed in popularity. Some people taking the drug have found that they have lost interest in a whole range of addictive and compulsive behaviors. Scientists have been testing whether drugs similar to semaglutide can curb substance abuse with promising results. The class of drugs may be altering the brain's fundamental reward circuitry. Researchers are running clinical trials to see whether semaglutide can help people quit drinking and smoking.

The FDA just approved rub-on gene therapy that helps ‘butterfly’ children

Dystrophic epidermolysis bullosa is an inherited disease that makes the skin of those affected so fragile that kids with the illness are called 'butterfly children'. Novel gene therapy has been approved by the US Food and Drug Administration for the disease. It is the first gene therapy for sale that is applied to the outside of a patient's body and the first intended for repeated use by the patient. A subsidiary established by Krystal Biotech, the company that created the treatment, is now testing a version of the drug that reverses wrinkles caused by lower collagen production.

💡What else are we reading and seeing?

• 5 top influencers share the media kits that got them lucrative brand deals

• Where Do Great Ideas Come From?

• Don't Overload Ethereum's Consensus

• India’s diamond woes

😎Fun Fact

The New York Stock Exchange (NYSE) has its own trading floor, which is about the size of a football field.

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That’s it from our side for today.