Good morning readers. As you deck the halls this holiday season, prepare for the inevitable career grilling from relatives, turning merry gatherings into impromptu job interviews. With workplace satisfaction at an all-time low, these chats can feel like walking a tightrope over a pit of awkwardness. The advice from the wise? Avoid the career comparison game with Cousin Chad the "corporate conqueror." Bragging rights and battle scars of the job front are common, but remember, it's about navigating the tricky waters of truth and tact. So, as you pass the gravy, pass on over-sharing. A little wit and a lot of wisdom make for the perfect holiday work-talk recipe.

Let’s jump into today’s storylines.

In today’s digest:

• How RISC-V is reshaping chip design

• Headline Hustle: US urges Israel to wind down Gaza war, EU starts membership talks with Ukraine, Meta’s Threads launches in Europe

• Pfizer’s challenges in post-pandemic era

• Pulse Points: What’s Trending

TECH

Customized chips on a budget

In the high-stakes poker game of the semiconductor industry, a new player, RISC-V, has dealt a surprising hand. Created in 2010, this open-source chip “instruction set” is turning heads for its blend of simplicity, affordability, and adaptability.

RISC what? RISC-V, pronounced “risk five”, is fast becoming the darling of semiconductor design. Imagine a world where you could craft chip blueprints with the ease of a DIY project, tailor-made for smartwatches, laptops, data center servers, or fine-tuned for cutting-edge AI computing. RISC-V made that dream a reality. Its simplicity and openness made it a versatile canvas for chip designers, enabling them to create customized solutions without breaking the bank.

The beauty of RISC-V lies not only in its cost-effectiveness but also in its potential to unleash innovation.

• By offering an open platform for chip development, it invited a community of forward-thinkers to collaborate and create, paving the way for more efficient processors and groundbreaking technologies.

It's all about the open-source charm

The chip cuts out those pesky licensing fees that make proprietary models like Arm's feel like a high-maintenance date. Plus, in a world craving customized, high-performance chips, RISC-V is like a tailor in a world of off-the-rack suits, fitting perfectly into the specific needs of AI and mobile devices. And let's not forget, as traditional chip technology is hitting its 'grow old gracefully' phase, there’s a push towards more bespoke hardware, a scene where RISC-V is ready to shine.

The embrace of RISC-V goes beyond a mere nod of approval. Tech titans like Meta and Google have fully integrated it into their operations. Meta harnesses its power for AI computing efficiency, while Google incorporates RISC-V into the Android OS and is even developing wearable devices and AI tools around it.

What’s next? By 2030, RISC-V is expected to make a significant impact on the SoC (system-on-chip) market, potentially disrupting the dominance of established players. RISC-V International is actively working to expand its ecosystem and introduce certifications, solidifying its position as a formidable third architecture in the industry.

Headline Hustle

🇺🇸 US urges Israel to begin winding down Gaza war. In a diplomatic tightrope act, U.S. National Security Adviser Jake Sullivan urged Israel to shift from heavy military tactics to targeted operations in Gaza, warning of governance challenges post-conflict. Despite advocating for a swift resolution, Sullivan's approach clashed with Israel's firm stance on continuing its campaign against Hamas. Amidst internal U.S. pressures and global critiques, the Biden administration maintains staunch support for Israel, focusing on strategic, less intensive military methods.

🇪🇺 EU agrees to start membership talks with Ukraine. In a diplomatic coup, Ukraine inches closer to EU membership, a beacon of hope amid its war with Russia. The decision, overcoming Hungary's resistance, marks a pivotal shift towards the West. However, a crucial $54 billion EU aid package remains in limbo, leaving Ukraine's financial future uncertain. This development symbolizes a significant stride in Ukraine's journey to break free from Russia's influence, yet the road ahead is fraught with challenges, both in securing necessary funds and navigating the long, complex path to full EU integration.

📱 Meta’s Threads launches in Europe. Meta's microblogging app Threads has finally landed in Europe, months after its US debut. Zuckerberg heralds its arrival on Threads itself, signaling Meta's largest market expansion since July. Initially global, Threads bypassed the EU due to its stringent online regulations. Now, EU users can link Threads to Instagram or roam anonymously, sharing but not creating content. Meta's been busy upgrading Threads – think web version, edit feature, and more – eyeing a potential billion users in a few years. This expansion coincides with advertisers rethinking their spend on Musk's platform, previously Twitter, amidst his polarizing statements.

HEALTH

From pandemic hero to market zero

Once a pandemic poster child, Pfizer, famed for its swift vaccine rollout, now finds itself navigating a post-Covid-19 world that's less forgiving and more fickle. In a twist of fate, the pharmaceutical giant is rolling out cost-cutting measures, including a hefty $3.5 billion reduction and widespread layoffs, signaling a dramatic shift from its recent glory days.

Overestimating pandemic-product sales

Pfizer's stock has taken a nosedive, plummeting to its lowest level in over a decade, erasing a staggering $140 billion in market value. This decline is largely attributed to a miscalculation in the demand for its pandemic products, especially the Covid-19 vaccine and Paxlovid treatment. As public interest dwindles, Pfizer has struggled to bridge the revenue gap with other pharmaceutical offerings. Despite launching new products and banking on acquisitions like the cancer-drug biotech Seagen, skepticism looms over Pfizer's sales forecasting and pipeline delivery.

It’s been rough for Pfizer. The company’s previous success with Covid-19 vaccines, which generated record sales, had somewhat veiled the underlying challenges related to the aging of its top-selling drugs and the necessity to cultivate new revenue streams. The sudden plunge in Covid-19 product sales has thrust these issues into the spotlight. CEO Albert Bourla's strategic reorganization, including creating a separate cancer-drug business, has raised questions about spending priorities and workforce impact, with employees resorting to tactics like monitoring managers’ calendars to anticipate further job cuts.

Big picture: How Pfizer handles employee relations and investor confidence during this period will be crucial, potentially reshaping its corporate image and market perception in the long run.

SNIPPETS

Pulse Points

• Amazon is courting sellers in China to counter increasing competition from Temu and Shein, both originating from the world's second-largest economy.

• General Motors' Cruise is laying off 900 employees, 24% of its workforce, as confirmed to CNBC.

• Nelson Peltz, an influential activist investor, is intensifying his conflict with Disney CEO Bob Iger and management, seeking two board seats in a bid to influence the company's future.

• A federal judge is likely to order Elon Musk to comply with an SEC investigation into potential civil fraud during his 2022 Twitter takeover, focusing on omissions about his plans for the company.

• HBO's popular comedy series "Curb Your Enthusiasm" will conclude with its 12th season in 2024, featuring 10 episodes starting February 4, as announced by its streaming platform, Max.

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