Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.
Investors in Crispr are bracing their wallets as experts believe their heavily hyped gene-editing procedure could lead to cancer. The Hustle Wed, Jun 13 Brought to you by Fundrise… billionaires aren’t the only ones who can be rich. Gene-editing treatment...
By: Wes Schlagenhauf
June 13, 2018
Investors in Crispr are bracing their wallets as experts believe their heavily hyped gene-editing procedure could lead to cancer.
Brought to you by Fundrise… billionaires aren’t the only ones who can be rich.
Gene-editing treatment Crispr gets caught up in cancer scare, sending stocks plummeting
According to two new studies published in Nature Medicine, the heavily hyped, early-stage, gene-editing technique known as Crispr has run into a paradox: The treatment seems to work best when a cell’s cancer defenses are down.
Not ideal for a medical procedure. The news called the viability of the entire treatment into question -- and sent shares of companies tied to the procedure into a nosedive.
Keepin’ it Crispr-y
Since Crispr came onto the scene 5 years ago, scientists have lauded it as tech that could one day revolutionize fields from medicine to agriculture.
Advocates have speculated that Crispr could be used to cure genetic diseases or even bring extinct species back to life, and painted Crispr’s pioneers as future Nobel Prize shoo-ins.
Here’s how it works: To edit genes with Crispr, scientists craft molecules that can enter the nucleus of a cell, home-in on a particular stretch of DNA and snip away at specific locations.
Unless p53 is on duty…
Two separate teams of researchers found that the gene p53 was in large-part responsible for preventing Crispr from working. So they tried turning p53 off -- and voila! Crispr worked like a dream.
Problem is, p53 isn’t normally a bad guy. Normally, it defends cells against DNA mutations that can cause cancer.
In other words, the research showed that Crispr was more likely to work on cells that were less effective at fighting cancer.
That’s where investors started to freak
Investors read this news as: “Crispr causes cancer,” and things spiraled from there.
According to Market Watch, CRISPR Therapeutics fell 13% after the announcement, along with two companies developing medical treatments based on CRISPR, Intellia Therapeutics, and Editas Medicine.
The 3 firms all released statements denying the notion that this research will have an impact on their programs, with Intellia assuring they’ve “observed no signs of any toxic cells transforming into cancer.”
The scientists who published the research also maintain that “the reactions have been exaggerated,” and Crispr is still a promising technology, albeit further away from hitting the market than expected.
Crispr gets soggy
Buffett stops trying to fix failing Sheetrock company’s foundation
US Sheetrock company USG capped off 3 months of negotiations with a $7B sale to German building-materials company Knauf, giving majority investor Berkshire Hathaway a chance to wriggle out of a rare underperforming investment.
Normally, a passive Berkshire is a happy Berkshire
Warren Buffett’s company is famous for making long-term business investments -- and then being hands off. USG was a rare BH bet that didn’t pan out (yes, it even happens to Buffett).
Buff-Daddy bailed out USG in 2001, ending up with 31% of the biz. But after USG declared bankruptcy again in 2003, the company never got its sheet together.
“12 years from the time we, in effect, bankrolled the company in terms of coming out of bankruptcy … we’ve never received a dividend,” Buffett said.
Even Buffett wouldn’t let this injustice stand, man
Buffett (who has vowed not to participate in hostile takeovers in the past) refused to sit back and let incompetent execs squander his cash -- voting against the board and taking the wheel himself.
“We did not think that the directors were essentially doing their job,” Buffett explained. According to Big-B, it was the first time his company had ever rejected a group of directors.
In the driver’s seat, Buffett renegotiated Knauf’s offer from $40.10/share to $43.50/share and a $0.50 dividend. USG stock then rose as much as 4.2% (not that Buffett cares -- it’s someone else’s fixer-upper now).
You know what they say: When the going gets tough...
Seattle repeals a big business tax after a strong-arm from Amazon
It’s Amazon’s world, Seattle’s just living in it.
Only a month after passing a new head tax on large companies in an effort to fight the growing homelessness crisis in the area, Seattle city leaders have now repealed it.
Together, Amazon and the coalition of business leaders, including Starbucks, collectively raised $285k in just a few weeks to gather the signatures needed to challenge the new tax, and, well...
This is (corporate) America
The tax would’ve hit the 585 businesses that generate more than $20m in revenue with a $275-per-employee tax -- and raise roughly $48m a year for affordable housing and homeless services in a city that has the 3rd highest homelessness rate in the US.
However, a study commissioned by the Chamber of Commerce reportedly found the tax would have cost Seattle over 14k jobs and $3.5B in economic output.
Take note, HQ2ers...
This tax debate comes as 20 cities desperately try to lure Amazon’s HQ2 into their economies -- leading to lavish offers of tax breaks and incentives to get those promised 10k jobs.
But, let Seattle’s quick surrender be a lesson to prospective cities -- be careful what you ask for, because you just might get it.
1. A mythological fount of perfect, instantaneously updated company insights. 2. One dataset to rule them all, and one dashboard to report them. 3. Much like the fountain of youth, only the purest of data scientists may look upon it without perishing.
Analyst: Alright, we’ve spent the last 6 months tracking and organizing our user growth, and we have a few key takeawa--
CEO: Something’s not adding up. Can we trust this as a single source of truth?
Analyst: There is a discrepancy of less than 0.05%, but these are the numbers and sources we agreed upon in Janua--
CEO: But has any data we’ve ever looked at been true?
*Analyst assumes the fetal position as reality splinters*
deals deals deals
“These deals came to me in a fever dream. ‘Buy me,’ they whispered. I said, ‘No, not yet. I gotta tell the people.’ So… here they are folks! This week, free booze and a killer deal on all your design needs.”
Maximize your savings by investing in million-dollar properties
Looking for a place to put that extra grand laying dormant in your savings?
How about a new condo building in LA, or a chic townhouse in DC?
News flash, people… they’re open for investment. And, if you thought owning real estate was beyond your reach, think again -- it’s actually just a few clicks away.
Unlock a new world of real estate investing
Fundrise lets you invest online in a curated portfolio of dozens of real estate projects — each one hand-picked with the goal to grow your net worth.
We’re talking portfolios with 8-11% expected annual returns, true diversification, and lower-than-average platform fees.
Plus, you only need $500 to get started. So, you can benefit from real estate’s unique potential to generate consistent cash flow and long-term appreciation regardless of your net worth (AKA, you don’t have to be a millionaire to get in on the action).