23 July 2024

Daily Newsletter

Altman Releases US' Largest Basic Income Study's Findings

The Facts

  • The results of a three-year study on universal basic income, carried out in Illinois and Texas by OpenResearch — a group backed by OpenAI founder Sam Altman — are out.

  • The study involved around 3K people aged 21-40, earning less than $30K annually. For three years, 1K participants received $1K a month, while a control group of 2K received $50 a month.


The Spin

Narrative A

The Sam Altman-backed study explored how AI-induced job losses might necessitate universal basic income. It highlighted that cash provides flexibility and reduces stress. Despite mixed results, the need for universal basic income as an effective anti-poverty tool is evident, independent of AI advancements.

Narrative B

This study shows that giving $1K monthly to poor Americans didn't improve their long-term financial health and could potentially increase their dependence on financial assistance. So, while cash grants help meet immediate needs, they aren't a comprehensive solution for job loss due to AI.

Nerd narrative

There's a 5% chance that the US, UK, China, or any of the countries in the EU will enact a universal basic income before 2030, according to the Metaculus prediction community.

See sources

Hungary Stripped of EU Meetings Over Ukraine Peace Mission

The Facts

  • Josep Borrell, the EU's top diplomat, on Monday moved to rebuke Hungary over its solo attempts at finding peace in Ukraine, announcing that the next set of foreign and defense minister meetings will be held in Brussels rather than Budapest.

  • This comes after Hungarian Prime Minister Viktor Orbán, once his country assumed the rotating EU presidency earlier this month, traveled to meet the leaders of Ukraine, Russia, and China, as well as the US presidential candidate Donald Trump, in an effort to find a negotiated settlement in Ukraine.


The Spin

Pro-establishment narrative

Russia, as the aggressor in this war, violated the UN charter. Any self-styled peace mission that fails to recognize this reality is unacceptable. Hungary must be shown that it cannot violate EU treaties and its foreign policy without consequences.

Establishment-critical narrative

Continuing the pro-war hysteria by the EU, Hungary's attempts at ending the two-and-a-half-year war — with negative consequences for all — are treated as Kremlin propaganda. This is an absurd, bad faith, and immature argument.

Nerd narrative

There's a 50% chance there will be a bilateral cease-fire or peace agreement between Russia and Ukraine by March 2026, according to the Metaculus prediction community.

See sources

Hamas, Fatah Agree to Form Unity Government in the Future

The Facts

  • Hamas and its primary rival Fatah, which runs the Palestinian Authority (PA) in the West Bank, have signed a declaration in Beijing pledging to form a government together. The agreement doesn't include any guarantees or outline a timeline.

  • The talks, which began on Sunday, included 14 Palestinian factions. Chinese Foreign Minister Wang Yi said that "an agreement has been reached on post-Gaza war governance and the establishment of a provisional national reconciliation government."


The Spin

Pro-Israel narrative

This doomed-to-fail accord is just another sign that Hamas is on its knees. Indeed, this agreement is a lifeline for Hamas provided by China and Abbas, though it is unlikely to produce anything meaningful. China wants to strengthen its hand in the region by preventing Hamas' demise, and Abbas simply seeks to appease a potential ally in Beijing.

Pro-Palestine narrative

Israel's genocidal campaign against Palestinians in Gaza has changed the calculus of the Palestinian factions. If Gaza and the West Bank are under one administration, it means that Israel can no longer say that it is unable to make peace. Palestinians must be united in the face of Israel's brutality if they are to improve their situation.

Nerd narrative

There's a 3% chance that there will be shared power in the Gaza Strip on Jan. 1, 2025, according to the Metaculus prediction community.

See sources

UN: Threat of Terrorism in Syria 'Resurging'

The Facts

  • UN Special Envoy to Syria Geir Pedersen told the Security Council on Monday that the threat of violence from the Islamic State (IS) group is "resurging" as the 13-year-long civil war in the country continues to drag on.

  • Pederson warned that "conflict, complexity and division" still reigned in Syria and that the risk of violent escalation is "undiminished." Pederson cited Israeli airstrikes in Syria and a potential escalation of their conflict with Lebanon as grounds for concern.


The Spin

Establishment-critical narrative

There is no hope for resolving the refugee crisis without ending the antagonism toward Bashar al-Assad's government in Syria. The world must engage in constructive dialogue with the rightful and legitimate rulers of Syria if they want to see any improvement in the humanitarian situation. Regional partners such as Turkey have already made overtures for normalization, and the rest of the world must follow suit.

Pro-establishment narrative

The path to a safe Syria does not run through the brutal Assad regime. Feeling the pressures of hosting refugees, Middle Eastern countries have turned to forceful deportations back to Syria and have made a half-hearted attempt to rehabilitate Assad. Meanwhile, Syria has turned into a criminal state involved in drug trafficking and has let itself be used as a tool of Iran. The fight against Assad must continue.

Nerd narrative

There is a 49% chance that Syria will experience a successful coup d'état before 2040, according to the Metaculus prediction community.

See sources

US Secret Service Director Cheatle Resigns

The Facts

  • Director of the US Secret Service (USSS) Kimberly Cheatle resigned Tuesday, writing to her staff that she "fell short" in the agency's "mission" to protect the nation's leaders, referring to the July 13 assassination attempt on former Pres. Donald Trump.

  • Her resignation came a day after she testified before the House Oversight Committee's hearing on the assassination attempt.


The Spin

Republican narrative

Kimberly Cheatle's refusal to resign immediately after the assassination attempt and failure to answer lawmakers' questions show she felt no duty to the agency or the American people. As the country wrapped its head around how the potential next president was shot, Cheatle has been let off the hook. Cheatle and her diversity, equity, and inclusion initiatives should've never been in charge of the USSS.

Democratic narrative

The reason Cheatle didn't immediately resign was actually due to her dedication to the USSS. From the Homeland Security secretary to the president, some of the highest-level government officials rightly hold Cheatle in the highest regard. Besides, the fact of the matter is that did the right thing in the end by stepping down — a pattern throughout her tenure as director.

Cynical narrative

While Kimberly Cheatle should certainly be questioned about her own failures, lawmakers and journalists have begun digging up other government officials and agencies who were potentially involved in covering up this unprecedented security failure. This also draws similarities to the mysterious pipe bombs in Washington, DC, on Jan. 6 — another bizarre case of government failure and secrecy.

See sources

Twin Ethiopia Landslides Kill Over 200

The Facts

  • At least 229 people have died after two landslides, triggered by heavy rains, occurred in quick succession in southern Ethiopia.

  • A landslide buried people in the Kencho Shacha Gozdi district of southern Ethiopia on Sunday evening, while a second trapped people as rescue operations were ongoing on Monday morning.


The Spin

Narrative A

Southern Ethiopia is prone to the cascading effects of landslides because it's primarily a rural and mountainous region battered by malnutrition, a lack of clean water, disease outbreaks, economic hardships, and armed conflict. The country needs urgent funding to respond to natural or man-made disasters and build its capabilities.

Narrative B

Though this disaster occurred due to heavy rains, it will reoccur if Ethiopia doesn't adapt to its root cause — global warming and climate change, which make extreme rainfall more likely. It's crucial for the government to take action, make steep cuts to emissions, and pursue climate adaptation policies to avoid another catastrophe.

Nerd narrative

There's a 50% chance that at least 2.69% of people worldwide will be affected by natural disasters in 2025, according to the Metaculus prediction community.

See sources

AP: Harris Has Enough Delegates for Democratic Nomination

The Facts

  • A survey by the Associated Press revealed late Monday that US Vice President Kamala Harris already has the support of enough Democratic delegates to earn her party's nomination for president and to face off against Republican former Pres. Donald Trump.

  • State delegations in Texas and her home state of California were among those that met Monday and threw their support behind Harris, who also set a 24-hour record for presidential donations by raising $81M by the end of Monday.


The Spin

Narrative A

For a party that's been preaching for years how much it respects institutions and is the defender of democracy, the Democratic Party has executed the most undemocratic process possible to anoint Harris as its nominee. Several party leaders clamored for there to be a vetting process, but instead Harris — untested and unelected — looks like she'll be atop the ticket, which risks turning off some would-be Democratic voters.

Narrative B

In order to have a competitive process, there must be more than one competitor. No one stood up to challenge Harris, so her near-unanimous support — plus her overwhelming fundraising and her ability to smoothly take the reins from Biden — make her a legitimate nominee. Democrats who wanted this selection to be democratic didn't count on Harris' surging momentum.

Republican narrative

Only Democrats would move on from an unpopular incumbent president to an equally unpopular failed former presidential candidate as their nominee. Harris has never won a single delegate in an election and when she bowed out of the 2020 Democratic primary race she was polling at 3%. Republicans will find it easy to defeat this candidate who was hand-picked by the Democratic elites.

Nerd narrative

There's a 40% chance that Harris will be elected to be US president in 2024, according to the Metaculus prediction community.

See sources

Study: Highly-Affordable 'Vaccine-Like' HIV Drug Possible

The Facts

  • A drug described as "the closest we have ever been to an HIV vaccine" that currently costs over $40K per person per year, could be made to cost less than $40 for each patient, according to newly-released research.

  • Early trials have found that Lenacapavir, developed by US pharmaceutical company Gilead, is nearly 100% effective in preventing HIV infection. The drug is also easier to administer than current preventative regimens that require daily pills, with Lenacapavir needing only two injections per year.


The Spin

Narrative A

It is still too early for Gilead to be able to predict what the cost of Lenacapavir as a pre-exposure prophylaxis will be. The research presented on Tuesday has not been peer-reviewed, and thus while it is hopeful, it shouldn't be given too much weight. Gilead is working to ensure that the drug will be widely accessible in the future, but it's too early to declare this drug as an HIV panacea.

Narrative B

Gilead has the opportunity to save many lives. This drug could be a game changer in stopping the spread of HIV if it's widely available and offered at an affordable price. Cost still remains a huge barrier to access to the drug, with the price currently over 40K dollars annually for each patient. If a generic version of the drug was offered at an affordable price the world may be able to meet the 2030 goal of ending new HIV transmissions.

Nerd narrative

There's a 34% chance that there will be more people with HIV/AIDS in 2037 than in 2017, according to the Metaculus prediction community.

See sources

Musk: Tesla's Humanoid Robots Ready for Internal Use by 2025

The Facts

  • In a post on X, formerly Twitter, Tesla founder Elon Musk said the electric automaker will be producing humanoid robots for internal use next year, adding that Tesla will "hopefully" be able to sell them to other companies by 2026.

  • The robot, known as Optimus, was first demonstrated publicly in 2022 and was able to walk on stage. It weighs 56 kilograms (123 pounds) and is 170 centimeters tall (5-foot-7).


The Spin

Narrative A

This announcement shows Musk is smartly diversifying Tesla in the midst of uncertainty in the EV market. With AI and automated vehicles expected to dominate the future of robotics, Musk stands uniquely positioned to profit from the coming robotics boom. Humanoid robots are not quite ready for prime time, but Musk has never been one to shy away from being an early adopter.

Narrative B

It can't be a coincidence that Musk, who's been promising robots and self-driving taxis for years, made this announcement on the same day as Tesla's quarterly earnings call. The billionaire has proven himself a great salesman but not necessarily a reliable narrator when it comes to technological advancements and accurate predictions.

Nerd narrative

There's a 5% chance that Tesla will be able to mass produce humanoid robots by the end of 2027, according to the Metaculus prediction community.

See sources

Report: Google-Wiz Acquisition Falls Apart

The Facts

  • Cloud computing start-up Wiz has decided not to accept Google parent company Alphabet's reported acquisition offer of $23B, according to a memo, instead choosing to pursue an initial public offering (IPO) of $1B. CEO Assaf Rappaport reportedly cited US antitrust and investor concerns as reasons.

  • Wiz, founded by four former Israeli military officers in 2020, has been valued at $12B, making the decision to back out of the deal "tough," according to an email written by Rappaport. The co-founders each own 9% of the company, with venture firms Index Ventures, Sequoia Capital, and Thrive Capital, among others, also owning stakes.


The Spin

Narrative A

It seems growing antitrust sentiments have scared Wiz into backing down. As this $23B offer was certainly difficult to turn down, the regulatory pressure from Washington was strong enough to send Wiz to a risky IPO over the easy acquisition money, and marks a significant setback for Google.

Narrative B

While this is certainly a setback for Google, it could also have repercussions for Israel. Contributing 20% to the nation's GDP, Israel — suffering economic damage from the ongoing war — is dependent on the tech company, and any loss of confidence in it will directly impact the country's economy. This isn't a smart move.

See sources

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