Breach for Neuralink?

Competitor Prepares Human Trials of Brain Implant for Communication Assistance

Author

The Managers Bulletin
June 24, 2024

Hello! 👋👋

Here are 5 things you missed today. Because we get it, life is busy & who has the time to sit around and read the news - here are 5 things we think you need to know in the world today.

Austin-based neurotech startup Paradromics is set to begin human trials next year for their brain-computer interface, Connexus Direct Data Interface. Unlike Elon Musk's Neuralink which focuses on general electronic control, Paradromics' device aims to restore communication for those with paralysis, ALS or spinal injuries. With a focus on safety and medical applications first, the $100,000 implant could be commercially available by 2029.

2 -😭 Tesla Shrinks Workforce by 14% as Musk Trims Costs

Tesla has laid off more than 14% of its workforce in 2023, reducing its global headcount to around 121,000. This follows CEO Elon Musk announcing company streamlining to address inefficiency and competition. The cuts come amid slowing sales and a potential for further layoffs depending on Q2 results.

3 -🛩️ Taiwan's Luxury Carrier STARLUX Airlines Celebrates US Launch at Dodger Stadium

Celebrating their partnership, Taiwan's STARLUX Airlines hosted a special night at Dodger Stadium. Fans enjoyed a ceremonial first pitch, themed drone show, and giveaways while sipping STARLUX's signature drinks. This event solidified STARLUX's role as the Dodgers' exclusive Taiwanese airline and highlighted their growing presence in the US.

4 - 🔥 Nvidia's Hot Streak May Not Last as Market Cools

The stock market is soaring, but the gains are uneven. A small group of tech giants, led by Nvidia's explosive growth in AI, are driving the market to record highs. While some worry this concentration is risky, analysts believe it reflects the dominance of AI and the potential for continued growth in these mega-cap companies.

5 -📉 Trump Media Shares Plunge Dramatically: Company Faces Sharp Decline Amid Market Uncertainty

Trump Media & Technology Group, owner of Truth Social, has lost half its market value since late May after Donald Trump’s conviction. The share price dropped 50%, erasing $3 billion from Trump's net worth. Despite regulatory approval for raising $250 million, the company faces financial instability with warnings of overvaluation due to low revenue and potential dilution of existing shares. Experts liken it to a "meme stock."

Written by The Managers Bulletin team - Australia
Was this email forwarded to you? Sign Up Here
Copyright 2024 The Managers Bulletin. All Rights Reserved.