🧠Neuralink has just taken the first step towards mind control. Just kidding... I hope.

Good afternoon! Today we will be covering some real life dystopian tech from Neuralink, a $10B scrapped merger and some disappointing growth from the Euro Area.

Reading time: 4 Min

TECH
🧠A dystopian world just became more possible

Elon Musk's Neuralink has successfully implanted its brain-chip in the first human patient, marking a significant step toward the company's goal of aiding patients with neurological conditions and also towards the possibility of producing a realistic remake of 1984… just kidding.

The U.S. FDA granted approval for the trial in 2022, allowing Neuralink to test its brain-computer interface (BCI) on humans. The procedure involves placing ultra-fine threads in the brain to detect neuron spikes, indicating brain activity.

 Initial results are promising, with the aim to enable users to control a computer cursor or keyboard through thoughts. Neuralink faces scrutiny over safety protocols, recently fined for violating U.S. DOT rules. The company was valued at $5 billion in June, but concerns persist about the technology's safety.

M&A
🎮Sony scrapped $10B merger with Zee

Sony has abandoned its $10 billion merger with Zee Entertainment, citing Zee's failure to meet financial terms and address the issues. Sony accused Zee of lacking "commercial prudence" and not making "commercially reasonable" efforts to meet financial thresholds, leading to irreparable breaches in the merger agreement.

Zee denied the allegations, calling Sony's termination "wrongful" and "in bad faith." The merger would have created a media powerhouse in India, but Sony terminated the deal on January 22, citing unsatisfied "closing conditions" after two years of negotiations.

Zee's shares have fallen approximately 30% since the collapse of the deal, and its financial struggles, including declining advertising revenues and cash reserves, have raised concerns. Sony was reportedly also troubled by Zee CEO Punit Goenka facing a regulatory investigation for alleged diversion of company funds.

ECONOMY
🌐Euro zone economy lags global growth

The euro zone's economy stagnated in 2023, contrasting with global growth, as Germany faced an industrial slump. Eurostat's data revealed Germany's 0.3% economic contraction in Q4, marking the euro area's sixth consecutive quarter of minimal or no growth.

The region's lackluster performance contrasts sharply with the robust growth in the United States. Economists anticipate continued sluggishness in the euro zone, with a modest recovery expected in the summer.

The International Monetary Fund downgraded its 2024 euro area growth forecast to 0.9%. Strikes and protests over inflation, along with expected rate cuts by the European Central Bank, may impact the region's economic trajectory, but challenges persist.

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