Indore Stock：This provides new insights for the health of millions of people [Topic ＂Out of Me＂ series two]

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· "Economist · Business Theory" in May 2022 launched the "The Quantify Self" series of depth articles pointed out that wearable devices and artificial intelligence seem to reshape medical care in three major aspects

Wearable technology is expected to completely change medical care

Don't let bureaucracy mistake

This is an invisible killer.When the cavity of the heart is not synchronized, blood stasis and blocks may be caused.In more than 100,000 strokes in the UK each year, a quarter caused by atrial fibrillation.If arrhythmia is treated, most of these strokes are avoided, but they must be found first.The test cost is high and inaccurate, but the Apple Watch can detect it (Fitbits is very good), which is much cheaper and can save those risky people.

This is just one of the revolution that is about to change medicine.Smart watches and rings, fitness trackers, and rapidly growing various electronic enhanced straps, patch and other "wearable devices" can record more than 7,500 physiological and behavioral variables.Obviously, some of these are more useful than others, but as we will explain in this technology topic, machine learning can screen data torrents, showing a picture of you and your healthy continuous and quantitative pictures.

Today is the early stage of "quantified me". For digital health investors, this is still a crazy journey.Take a look at the stock price of TELADOC, which recently provided online medical consultation, plummeted. For other potential subverters, this is a worrying signal.But for patients, the innovation of wearable devices has just begun.Specific companies may be floating, but wearable devices and artificial intelligence seem to reshape medical care in three major aspects: early diagnosis, personalized treatment and chronic disease management.Each aspect promises to reduce costs and save life.... ...

The killer application of life

But too many applications are poorly used [one of the "Out of Megal" series]

Metabolic research has changed the scientific view of healthy diet.It is found that many seemingly healthy people often rise sharply after meals, and this has been discovered to the development of the early stage of diabetes.If no intervention is done, 37%to 70%of diabetes will develop into diabetes within four years.Recent studies have found that the sudden drop in blood sugar after peak values ​​is also a hidden danger because it is hungry.Those who "ride a roller coaster" have an additional 300 calories per day than others.

In 2015, Israeli researchers demonstrated an artificial intelligence -based algorithm developed by them, which can predict a person's blood sugar response to various foods.The input of this algorithm includes blood test results, sleep, exercise, height and weight, which will affect daily metabolic changes.It also includes the composition of the intestinal microbial group. This microbial group refers to the trillions of bacteria that live in the intestine. Their collective work is to deal with what we eat.Microbial group analysis is completed by the bird gun method genome of all substances found in the feces sample.

In the past five years, startups in the United States, Europe and Asia have launched AI -based personalized nutrition applications based on such new discoveries.One of the companies Zoe sent a group of special formulas to customers.By accurately understanding the ingredients of food and measuring blood sugar and fat changes that follow, the company has created a model that predicts its client metabolism.The algorithm then generates a customized food and meal directory, listing their expected blood glucose reactions one by one.Tushar Vashisht, co -founder of Indian startup Healthifyme, who guided weight loss with digital means, said that there is financial resources that the financial resources bring to the custom weight loss plan to purchase various networking equipment and do various blood testing customers.A large amount of personal data, its use far beyond the customer itself.This data helps build applications for people without such devices and rely on some indicators derived from AI to replace weight and blood sugar... ...Indore Stock

In terms of disease monitoring, the most useful biomarker is a fever, which is a direct sign of infection.But most wearable devices do not measure body temperature because it is difficult to achieve accurate reading.Therefore, the standard items that they measure must be used as indicators, such as heart rate, sleep and activity level.The static heart rate that people measured when people sit still are varying from person to person -it is normal to jump 50 to 100 times per minute -but everyone's static heart rate is usually stable.However, when the body fights against infection, the static heart rate usually rises sharply.In the new coronal pneumonia infection, data from wearable devices show that a static heart rate increases four days ago when people feel any symptoms.It is estimated that 63%of the new crown cases can be detected from the change of static heart rate before the symptoms occur.

In view of its increasingly diverse investment portfolio, private equity companies are often called "new enterprise groups".Different from the predecessors in the industry, they show capital discipline, and companies holding shares will not cross subsidies at will.More than a dozen companies in the industry are not just corporate groups.Tim Jenkinson, the University of Oxford, said that companies such as Blackstone and KKR "do not like the word, but they start to look more like a financial supermarket."A sign of this aspect is the emergence of a unique private market strategy (for example, the mid -market industrial stocks or commercial real estate).

Prior to the new crown epidemic, the Squarepus team led by Jennifer Radin had proven that in the United States, the weekly changes in the proportion of people with abnormal heart rates, sleep, and activity -all these data come from cocoa.Wearable equipment -is very good with the popularity of influenza symptoms measured by the established monitoring system.The method of tracking the influenza explosion of these systems is to investigate the doctor's office to understand whether there are more people with such symptoms.Because people usually seek medical treatment after 3 to 8 days of symptoms, when they collect these data, epidemic diseases are usually in another stage and may need to take different public health measures.The demand for more timely observation methods is imminent.... ...

· "Economist · Business Theory" launched the "Private Market" series of in -depth articles in April 2022, analyzing the latest third development wave of "barbarians at the door".

The private market is exponentially growing

Special author Matthew Valencia believes that in the past ten years, it has been a golden ten years in the private financial market.As they expand the scale, they are also experiencing a day -to -earth reshaping [one of the "private market" series]

The private equity industry has been "swelling", and Hugh Macarthur, who is Bain & Company, has nothing to do with Bain Capital).Measured by most standards -from the scale of fundraising to "dry gunpowder" (the promise waiting for deployment) -The size of the industry has been four times more than ten years ago.In just five years, the number of private equity funds registered in the United States has increased by more than half to more than 18,000.The number of transactions is at a record level.

In 2021, the global disclosed leveraged acquisition was worth 1.2 trillion US dollars, which was much higher than the historical record of $ 800 billion in 2006.One -fifth of private equity accounts for all mergers and acquisitions is the highest proportion in at least ten years.This kind of transaction carnival has stimulated the activities of high -yield (garbage) bonds and leverage loan markets.Last year, the issuance of junk bonds exceeded $ 600 billion for the first time.In 2021, the hunger of private equity funds to the transaction even prompted the bidding process to speed up significantly.

Kem Ihenacho (Latham & Watkins) said that as many people increased their prices when many people increased their prices when the real estate market was hot, many bidders were less than half of the process.I was willing to sign "shoot first".In addition to buying assets from the business owner and the founder, private funds also buy each other.Some companies have easy hands between three or four private equity funds.The "Central Bank" International Clear Bank said that in the United States, the transaction volume of second acquisition may exceed the monetization path commonly used by the investor of the first public offer (IPO).... ...

But many "boutique" private equity companies boast that they are experts [Topic "Private Market" series]

Blackstone was founded in 1985 for a seed capital of $ 400,000, and plans to become a boutique consulting company.Its founders Peter Peterson and Stephen Schwarzman also wanted to try leveraged acquisition, but it was difficult to get support.It's not the past.In October, Su Shimin called his headquarters in New York as the "reference institution ... is reshaping the asset category".This is wrong.Blackstone has far surpassed competitors with a $ 880 billion in management assets.

"Ten years ago, we were basically a small club, with a small group of investors focusing on private equity, and a little real estate and bad debt," Blackstone's Gray said. "Now we have a much widespread investmentThe group, they say, 'If you can get a competitive return in private equity, loans, real estate, infrastructure or other strategies, we are happy to tie funds here.Diversity, private equity companies are often called "new enterprise groups".Different from the predecessors in the industry, they show capital discipline, and companies holding shares will not cross subsidies at will.More than a dozen companies in the industry are not just corporate groups.

Tim Jenkinson, the University of Oxford, said that companies such as Blackstone and KKR "do not like the word, but they start to look more like a financial supermarket."A sign of this aspect is the emergence of a unique private market strategy (for example, the mid -market industrial stocks or commercial real estate).Listing in the open market is the milestone moment of an alternative asset management company.The two main sources of private equity income are management fees and performance fees; the second is called attached equity (or excess income).In the early days, the attached equity was the main source of profit for private equity, and the management fee was only used for payment management costs.But a study shows that the latter is more important now, accounting for 60%to 70%of the total profit of ordinary partners.... ...

Institutional investors who provide fuel for private markets are getting older.But the selection winner is not easier to become [topic of the "Special" Private Market "series]

When David Swensen died last year, the investment community mourned to lose an idol.This Yale University's reserve fund housekeeper has created a "donation fund model": avoiding bonds and reducing stocks, adding private equity and real estate.His philosophy is that long -term capital can give up some liquidity in exchange for higher returns, and given that the data of the private market is more scarce, people who do their homework are more likely to gain advantages.In the 36 years of his helm, the donation fund increased from 1.3 billion US dollars to more than 40 billion yuan, with an average annual compound growth rate of 13.7%.

The revolution initiated by Svanson has spread to other donation funds and foundations, and later spread to sovereign wealth funds, pension funds, and companies that are super wealthy.Academic institutions are still at the forefront.In fiscal 2020, in the investment portfolio of donating funds in more than one billion US dollars in the United States, lever acquisition, venture capital and physical assets accounted for 39%.In Yale's investment portfolio, only 45%of the acquisition and venture capital investment.However, various institutional investors are gradually increasing their configuration of private markets, usually accounting for between 15%and 25%.Many plans have further increased.In a survey by the research company Preqin last year, about 90 % of institutional investors said that it is expected that the same or more funds will be put into private equity funds in the next 12 months.

Calpers Calpers is the largest public pension fund in the United States and manages about $ 500 billion inChennai Stock. Last November, it stated that plans to increase private equity and private debt from 8%of its investment portfolio to 18%.This is to keep the fund's expected return on the long -term goal of 6.8%.It will be troublesome to achieve the goal, because the fund's payment obligation to pensionists has exceeded its current assets worth more than 160 billion US dollars."Most LPs want their boards to make them participate more in the private market." A institutional investment consultant said...Udabur Investment. ...

The area where the asset management company did not dare to get involved in the bank, and changed a previous niche market [Topic "Private Market" series 4]

In the 1980s, Michael Milken stood out -he was in the company's financial field and became the king of junk bonds.The same is true in appearance: he wore a gorgeous but unconnected wig in the trading hall of Drexel Burnham Lambert.More than 30 years have passed, and garbage bonds have become a recognized part of the financing market.The same is true of other innovations for the acquisition of giants.It is the private credit market that quickly seized the site in these debt markets, which may now be more exciting than any other private market.Pune Wealth Management

Prior to the financial crisis, private credit was a kind of niche pursuit, including non -performing debt and "expansion" financing (a risky approach between debt and equity).In the past ten years, it has expanded to cover from aircraft leasing to "direct loans", that is, issuing loans to SMEs without the help of banks or securities companies.Private equity companies are bypassed the bank and funded the acquisition from direct lenders, including each other's credit departments.The loss of the control of private equity transactions was annoyed by banks. These transactions were supported by bank loans or trash bonds in the past.

Moody's said that since 2015, the size of the private credit market has doubled more than doubled. At present, it is currently worth at least $ 1 trillion in global, which is not far from the US $ 1.3 trillion institutional loan market.International Clearance Bank (BIS) is estimated to be close to $ 1.5 trillion.Recently, private credit sometimes even exceeds the circulation of junk bonds, and the latter itself has reached a record level.The scale of transaction has also increased accordingly."Fifteen years ago, the biggest transaction was hundreds of millions of dollars. Now it is 45 billion." Said Michael Arougheti, the owner of Ares Management...Surat Stock. ...

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"Economist · Business Theory" 2023-10-19

So long iPhone. Generation ai Needs a New Device

Goodbye iPhone.Generate AI call for new equipment

The dusk of the screen is here?

When Zuckerberg appeared on the stage on Menlo Park on September 27, when the spring breeze released the Meta new product series, the head of the Facebook may sell a lot.He first introduced Meta's virtual reality (VR) head to Quest 3, which can also be understood, because his obsession with the Yuan universe has been reflected in the company's name.But the next news made technical fans more excited: he announced that Meta will soon join forces with Ray-Ban to launch a smart glasses built into the artificial intelligence (AI) virtual assistant.This glasses can not only see, listen, but also answer questions from the wearer.Fortunately, it will not have "hallucinations".

Maybe you dismiss the concept of smart glasses.After all, they have been speculated before.But this time META may be worthy of attention, because the pioneer of the generation AI OPENAI announced on the same week that its hot chat robot ChatGPT can now be read, listen, and speak.In addition, it is reported that Openai is discussing a new small device for the AI ​​era with former Apple designer Jony Ive.As for what form is unclear.But if you want to develop a new consumer electronics device to make it more in line with AI that can be seen, said, and listened, it is likely to stop relying on the touch screen.

Smart phones are successful.However, as long as you talk to one of the latest audio incarnations with ChatGPT, you can feel the joy of getting rid of the control of the smartphone.The author experienced it in person and asked Sky what would she think of the screen in the end: Is it glasses?"Absolutely!" She said excitedly, "Especially those glasses with augmented reality (AR) and AI functions." When asked if this would be a good thing, she recommended two books, the themes are both, the themes are both, and the themes are both.It is a huge influence on the screen on modern life: American writer Nicholas Carr's "Sanior Beach: How the Internet changes our thinking, reading and memory"ReMember, and "Screened Out" of Jean Baudrillard, the late French philosopher Jean Baudrillard.Then, under the questioning, she made a simple and concise summary of the two books, and there was almost no moment of hesitation.It can't be said that she is just like Scarlett Johansson in the movie "Her", but it feels like a scholar at Stanford University in your ear softly.... ...

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