Weekly Series #11
Scientists cure type 2 diabetes, Meta's latest tech, OpenAI leadership exodus, Visa faces antitrust lawsuit, Novo Nordisk senate hearing
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Scientists in Shanghai cure type 2 diabetes:
In a groundbreaking medical achievement, researchers in Shanghai have reported the world's first successful cure for type 2 diabetes using stem cell-derived islet transplantation. The breakthrough was achieved in July 2021 when a 59-year-old man with a 25-year history of type 2 diabetes underwent an innovative cell transplant.
Key Details of the Breakthrough
The patient, who previously required multiple daily insulin injections, achieved insulin independence just 11 weeks after the transplantation. Over the course of a year, his oral diabetes medications were gradually reduced and eventually discontinued. As of September 2024, the patient has remained insulin-free for 33 months and is not taking any diabetes medication.
The Innovative Treatment
The treatment involved using the patient's own endoderm stem cells (EnSCs) to create functional pancreatic islet cells. These cells, known as 'E-islet cells,' were then implanted into the patient. This autologous transplantation approach effectively restored the patient's pancreatic islet function, which is crucial for regulating blood glucose levels.
Implications and Future Prospects
This breakthrough offers hope to the estimated 420 million people living with type 2 diabetes worldwide. It represents a significant advancement in regenerative medicine and could potentially transform diabetes care globally. However, further research and clinical trials will be necessary to validate these findings and expand the treatment's availability.
While this achievement marks a major step forward in diabetes treatment, it's important to note that more studies involving a larger number of patients will be required to fully establish the long-term efficacy and safety of this approach.
Sources: Economic Times, Nature.com
Mark Zuckerberg’s future vision:
Mark Zuckerberg made the news last week at Meta Connect 2024, held on September 25, 2024, that featured two significant announcements regarding Orion AR glasses and Llama 3.2 AI model. He laid out his vision of the future where human-computer interaction will transition to AR glasses powered by powerful AI assistant.
Orion AR Glasses
Meta unveiled its prototype augmented reality glasses called Orion:
Described as potentially "the most advanced pair of AR glasses ever made"
Uses projectors inside the frames to beam holographic displays
Incorporates hand-tracking, eye-tracking, and neural interface capabilities
Currently not available for consumer purchase
Meta will use the glasses internally for software development before a potential consumer release
Mark Zuckerberg demonstrated the glasses, stating, "These glasses exist, they are awesome, and they are a glimpse of a future that I think will be exciting".
Llama 3.2 AI Model
Meta announced the release of its latest AI model, Llama 3.2:
Designed to power new AI features across Meta's platforms
Will allow developers to use Meta's models to build their own AI tools
Supports enhanced AI functionalities like:
Voice capabilities for Meta AI assistant, including celebrity voice options
Improved photo editing features
Automatic language translation in Reels
Zuckerberg reported that Meta's AI assistant currently has approximately 500 million monthly active users and is on track to become the most-used AI assistant in the industry by the end of 2024.
They also announced Quest headsets, but they were nothing out of the usual. These announcements highlight Meta's continued focus on advancing augmented reality technology and artificial intelligence, positioning the company at the forefront of these rapidly evolving fields.
Source: Meta, Verge, Cleo Abrams
DOJ accuses Visa of monopoly:
The DOJ has filed a civil antitrust lawsuit against Visa, accusing the company of illegally maintaining a monopoly over the debit card market in the United States.The DOJ alleges that Visa has used its dominant position to stifle competition and charge excessive fees, which ultimately get passed on to consumers in the form of higher prices.
Specifically, the DOJ claims that Visa controls over 60% of the debit card transaction market, allowing it to extract over $7 billion per year in processing fees. Visa allegedly does this by imposing exclusionary agreements that penalize merchants and banks if they route transactions through competing debit networks. The DOJ also says Visa has coopted potential competitors by offering them incentives to become partners instead of rivals.
Attorney General Merrick Garland stated that Visa's "unlawful conduct affects not just the price of one thing – but the price of nearly everything."The DOJ is seeking to restore competition in this vital market on behalf of American consumers and businesses.
Visa has defended itself, saying the lawsuit is "meritless" and that it faces growing competition, especially in the online payments space. However, the DOJ's lawsuit is part of a broader crackdown on anticompetitive practices by major corporations across various industries.
Sources: CNN, Justice.gov
Senate grills Novo Nordisk’s CEO over drug pricing:
On September 24, 2024, Novo Nordisk's CEO Lars Fruergaard Jørgensen testified before the Senate Health, Education, Labor and Pensions Committee regarding the pricing of the company's popular weight loss and diabetes drugs, Wegovy and Ozempic.
Key points from the hearing include:
1. Senator Bernie Sanders, who chairs the committee, highlighted significant price discrepancies between the U.S. and other countries for these drugs.
2. Jørgensen defended the company's pricing strategy, arguing that the drugs ultimately save healthcare expenses related to obesity and type 2 diabetes.
3. Novo Nordisk claimed that the net price of Ozempic has decreased by 40% since its U.S. launch.
4. Sanders announced that major Pharmacy Benefit Managers (PBMs) have committed in writing to expand coverage if Novo Nordisk substantially reduces the list prices for Ozempic and Wegovy.
5. The hearing addressed the complexities of the U.S. healthcare system and its impact on drug pricing.
The testimony has put Novo Nordisk under intense scrutiny, with lawmakers and the public demanding explanations for the high prices of these increasingly popular medications in the United States compared to other countries.
Sources: Senate.gov, CNBC, CBS
Sam Altman and Jony Ive confirm plans for a new AI device:
Former Apple design chief Jony Ive is partnering with OpenAI CEO Sam Altman to develop a new AI-powered computing device. Ive's design firm LoveFrom is leading the device's development, which aims to be "less socially disruptive than the iPhone."
The project has already raised up to $1 billion in funding from investors like Laurene Powell Jobs, the widow of Steve Jobs.
Few details are known, but the device is expected to perform advanced AI-powered tasks beyond traditional smartphones. The team includes former Apple executives like Tang Tan and Evans Hankey, who previously worked on the iPhone and Apple's design.
Leadership exodus continues at OpenAI:
While OpenAI continues to fire on all cylinders, it’s unable to plug the leadership exodus. 3 key leadership members of OpenAI announced resignations from OpenAI last week:
Mira Murati, the Chief Technology Officer, resigned to "create the time and space to do [her] own exploration".
Bob McGrew, the Chief Research Officer, and Barret Zoph, the VP of Research, who also announced their resignations.
Here’s a timeline of key leaders resigning from the company previously:
Ilya Sutskever, a co-founder and the former Chief Scientist, who left in May 2024 to start a new venture focused on developing safe artificial general intelligence (AGI) called Safe Super Intelligence.
Jan Leike, who co-led OpenAI's "Superalignment" team focused on AI safety, also departed in May 2024 due to disagreements with leadership over the company's priorities.
Andrej Karpathy, a research scientist and co-founder, left twice - first in 2017 and again in February 2024 to focus on personal projects.
John Schulman, another co-founder and head of alignment science, left in August 2024 to join rival company Anthropic
Of the original 11-person founding team, only Altman and one other member remain active at the company. This exodus of renowned leaders has raised concerns about OpenAI's ability to maintain its focus on AI safety and alignment as it rapidly grows and develops powerful technologies like ChatGPT.
Source: Business Insider, QZ, X, Observer