Good morning readers. It looks like Netflix is upping its game – literally. Next month, the streaming giant is set to add a bit of adrenaline to its repertoire with three iconic “Grand Theft Auto” titles. This gaming trio – GTA III, Vice City, and San Andreas – will not just be a nostalgic rewind but a convenient one, landing directly in the Netflix mobile app, as well as on the Apple App Store and Google Play. And the best part? No controllers are needed to play these classics.

Let’s jump into today’s storylines.

In today’s digest:

• ChatGPT celebrates its first birthday

• Headline Hustle: Countries at COP28 agree on natural disaster fund, Tesla’s Cybertruck has arrived, AbbVie buys ImmunoGen for $10B

• McDonald’s is elevating it’s burger experience

• Pulse Points: What’s Trending

ARTIFICIAL INTELLIGENCE

ChatGPT turns a year old

ChatGPT, OpenAI's brainchild, has wrapped up its first year in a whirlwind of impact and innovation, just as its parent company navigates a sea of internal drama. Right on the cusp of its anniversary, OpenAI hit a turbulent patch with a board coup, a CEO shake-up, and a reshuffle at the top, eventually seeing Sam Altman retake the helm as CEO.

What a wild first year it’s been

In the tech world, ChatGPT has been nothing short of a sensation. Amid a backdrop of Silicon Valley grappling with layoffs, funding droughts, and market jitters, ChatGPT emerged as a beacon of AI potential, sparking a gold rush among tech giants. With 100 million users hooked in just two months, it wasn’t just a hit; it was a phenomenon.

But it's not all smooth sailing. ChatGPT has been both hailed as a game-changer and eyed warily for its societal ripple effects. In classrooms, it's a double-edged sword, aiding personalized learning while also opening doors to cheating. In creative circles, it's stirring the pot, disrupting traditional crafts and sparking debates over artistic integrity. And let’s not forget about how everyone and their grandmothers believe in one way or another AI will take over their jobs, replace humans, or take over the world. OK maybe not everyone.

This AI juggernaut has kicked off intense debates about its societal imprint, prompting calls for a nuanced approach and mindful regulation. Amidst the buzz, there’s a growing chorus advocating for policies that make sure AI’s benefits are a shared jackpot, not just a lucky few's windfall.

As ChatGPT blows out its first candle, it leaves us in awe and a bit of a daze. It's been a year of groundbreaking highs and some serious boardroom lows. The AI journey is far from over, and the path it carves for our society is as intriguing as it is uncertain. Happy first, ChatGPT – you’ve sure made it interesting.

Headline Hustle

🌎️ Countries at COP28 approve climate disaster fund deal details in early breakthrough. At the U.N. COP28 summit, a significant stride was made in climate crisis management with the establishment of a disaster fund. This fund, a sequel to COP27's groundbreaking agreement, aims to aid nations battered by climate calamities. The fund's operational details were a hit, receiving a standing ovation for its inclusivity and voluntary contribution model. Key donors like Germany and the UAE have already chipped in, with the World Bank playing interim host. Critics, though applauding this historic move, stress the urgency for substantial financial commitments, especially from high-income countries historically responsible for major emissions.

🛻 Tesla’s Cybertruck is finally here. Tesla's much-anticipated Cybertruck, a bold venture into the electric pickup market, has finally hit the roads, with the first units being handed over to customers at their Austin, Texas factory. This marks a pivotal moment for Tesla, whose Cybertruck, first unveiled in 2019, diverges radically from conventional automotive designs. The truck's pricing has been updated, starting at around $61,000 - a significant jump from the initial figure announced in 2019. The high-end 'Cyberbeast' version is priced just shy of $100,000. The truck boasts a maximum range of 340 miles on a single charge, somewhat short of the initially promised 500 miles. However, Tesla offers an additional feature to extend this range to over 470 miles. CEO Elon Musk, at the launch event, emphasized the truck's unique attributes, including a custom alloy stainless-steel exterior and bulletproof doors.

💊 AbbVie to purchase cancer biotech ImmunoGen for $10B. In a strategic move to bolster its cancer drug portfolio, AbbVie has agreed to acquire biotech firm ImmunoGen for $10.1 billion. This acquisition centers around ImmunoGen's promising antibody-drug conjugate (ADC) technology, which targets cancer cells precisely, minimizing damage to healthy cells. AbbVie's offer of $31.26 per share represents a significant premium on ImmunoGen's recent stock value. The deal, expected to finalize by mid-2024, will add the newly approved ovarian cancer drug Elahere to AbbVie's lineup. This acquisition comes as AbbVie seeks new revenue sources, with its blockbuster drug Humira facing competition and its drug pipeline receiving mixed reviews.

FOOD

Golden arches go gourmet

McDonald's, a fast-food titan synonymous with the classic American burger, is flipping its burger game with the biggest overhaul in decades. In a culinary mission spanning seven years, the golden arches are rolling out over 50 tweaks to bring a fresh zest to their iconic burgers.

The transformation touches every aspect of the burger.

• The beef patties are now cooked in smaller batches, promising a better sear and a consistent taste.

• More special sauce is added to the burgers to amp up the flavor.

• The lettuce is fresher, the cheese meltier, and even the sesame seeds on the bun are getting a makeover for a more homemade vibe.

• And in a nod to gourmet trends, a buttery brioche bun is now the crowning glory, replacing the old classic.

Originally test-driven in Australia, these burger upgrades are now cruising into McDonald’s across the U.S., with the full rollout expected to hit by early 2024. This big shake-up is McDonald’s way of biting back against upscale competitors like Five Guys and answering the call for fresher, tastier options.

Even as industries like Big Tech face a downturn, McDonald's has cooked up a 10.3% spike in U.S. same-store sales in 2022, leaving rivals like Burger King and Wendy’s in the rearview. In the $136 billion U.S. burger arena, Mickey D’s is banking on this quality-focused shift to keep its growth engine revving.

Big picture: With rivals like Red Robin and Sonic also beefing up their burger game, this move is part of a wider trend in fast food – a race towards higher-quality eats. For McDonald's, it's not just about staying in the game; it's about setting the table for the future, where quality and customer satisfaction are the main ingredients.

SNIPPETS

Pulse Points

• OpenAI's tender offer, enabling employees to sell shares to external investors, continues as planned despite leadership changes and a board shuffle.

• OPEC+ decided to cut oil production by an additional million barrels per day, likely leading to sustained high prices due to ongoing Middle East conflicts.

• Israeli intelligence plans to target and kill Hamas leaders globally after the Gaza conflict, in response to the October 7 massacres, according to Israeli officials.

• Meta Platforms has challenged the constitutionality of the Federal Trade Commission's structure in its ongoing attempts to prevent new restrictions on monetizing user data.

• The SEC is in official discussions with BlackRock and Grayscale regarding the potential approval of a bitcoin ETF.

• Activist investor Nelson Peltz and his firm are pursuing over two seats on Disney's board, potentially leading to a proxy battle.

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