August 21, 2024

"The poor get poorer"

Hi there,

When I watch sports on TV with my kids, the commentary & graphics now increasingly integrate betting data into the broadcast.

AKA p1mping of FanDuel, DraftKings, etc.

Now a recent working paper claims sports betting legalization in the US reduces net investments of households by nearly 14% overall.

Source: Baker et al. via Florian Ederer on X

I love free markets but we'll look back on the rise of sports betting in 10 years and wonder what folks were thinking.

And it'll be too late.

This also reaffirms my view that online addiction centers are going to be a huge business, as I discussed on the My First Million podcast a few months ago.

Someone will build these, do good, and make billions.

Consultants ❤️ AI

The world's leading consulting firms are embracing AI.

They're using generative AI to streamline internal processes and launch AI-based products.

For example, Deloitte's AI Institute launched an internal genAI copilot to streamline tasks like coding and project planning.

CB Insights customers can dive into the AI strategies of 8 of the world's largest consultancies in this report, which surveys:

Accenture
Bain & Company
Boston Consulting Group
Deloitte
EY
KPMG
McKinsey & Company
PwC

Safe place

Startups are emerging to address the security risks posed by generative AI — and they're also using genAI to build new defenses.

For example, some startups are developing AI-powered assistants and agents to help security operations center (SOC) workers prioritize the most important alerts.

Companies in this emerging space have already raised 4x more funding this year compared to 2023.

Security-operations-center-SOC-AI-agents-copilots-Total-Equity-Funding-and-Deals-1 (1)

Learn more about promising emerging players in this market in this research brief.

Green shoots

Nearly half of 1,000 companies surveyed by EY-Parthenon have launched a venture with $100M+ annual revenue in the last 5 years.

But less than 10% of corporate ventures generate $1B+ in net-new annual revenue.

Discover the steps companies can take to launch and grow their next $1B+ business in this report from EY-Parthenon, developed in partnership with CB Insights.

Stayin' alive

Longevity tech companies are developing solutions to help humans live longer, healthier lives.

And many have offerings that you can purchase directly.

For example, you could snap up longevity supplements that: