Arvind's newsletter

1. Goldman Sachs has said the US economy may avoid a recession entirely, making the firm an outlier amid a sea of Wall Street pessimists. Now Goldman is saying the euro zone may dodge the same bullet. Its economy proved more resilient at the end of 2022, Goldman economists said, as natural gas prices fell sharply and China abandoned its Covid-19 restrictions earlier than anticipated. The firm also sees inflation easing on the continent faster than previously expected.Over at the World Bank, the outlook is decidedly less cheery. The global economy is on a “razor’s edge” and may fall into recession this year, it said. The international institution downgraded its projections for global growth, following in the footsteps of the International Monetary Fund, which voiced similar worries. “Our worst-case scenario is now our baseline scenario,” a World Bank economist said. A European Central Bank governor, meanwhile, said interest rates must “rise significantly at a steady pace” to quell inflation. The forecasts stand in stark contrast to hopes that the U.S. is experiencing a Goldilocks economic moment and that China’s abandoning of zero-COVID measures could boost growth.

2. An Indian film (RRR) won a Golden Globe for the first time, though not for the best picture. Naatu Naatu, a song from the Telugu-language blockbuster RRR, won best original song, beating competition from Lady Gaga, Taylor Swift, and Rihanna. It’s a joyful dance number in the historical fantasy directed by S.S. Rajamouli, set during India’s fight against British rule. The song’s revolutionary zeal, catchy steps, and lyrics such as “dance as if a scorpion has bitten you,” all helped the track win big, writes Dipavali Hazra for Times Now.

For the full list of the winners of the golden globes see below

3.The United States approved an Alzheimer’s drug despite safety concerns. Lecanemab appears to slow the disease’s progression, the first treatment to do so. Most research into Alzheimer’, which is the most common cause of dementia worldwide (dementia affects more than 55 million people worldwide)— focuses on the buildup of a protein called amyloid, but the failure of previous drugs has led to questioning of the hypothesis. Lecanemab’s success has revived it, although Nature reports safety concerns. A skeptical shadow has been cast over Alzheimer’s treatments after an earlier drug was approved despite the Food and Drug Administration’s own statisticians doubting that it worked.

4. ChatGPT is all over the media. The uses of ChatGPT are simply endless and intoxicating. This article highlights 20 entertaining uses of ChatGPT you never thought might be possible. Meanwhile on a separate note Microsoft is considering an additional $10 bn investment in OpenAI (It has already invested $1 bn).

It’s still early days. Companies are trying to figure out the legal and ethical implications of a content world suddenly turned on its head by artificial intelligence. And yet … applying powerful AI to everyday tasks is amazing. Read on.

5. Yesterday's article from the Economist focussed on how Starlink LEO satellites has transformed warfare benefiting Ukraine over Russia. In this article in Vox, the reporter opines that satellite internet will go mainstream in 2023 and identifies some of its challenges.

"Private companies and governments are getting serious about their space internet projects. This year, SpaceX has planned multiple launches, like the one with 51 satellites that is scheduled to take off later tonight from the Vandenberg Space Force Base in California, that will send satellites into orbit to support its Starlink network. Each new batch joins the thousands of satellites SpaceX has already sent into orbit, including those of Starlink competitor, OneWeb. Amazon, meanwhile, plans to incorporate more than 3,000 satellites into its Project Kuiper satellite internet constellation and should launch its prototype satellites early this year. The European Union has said its proposed satellite network, Iriss, could include up to 170 satellites, which are scheduled to enter low-Earth orbit between 2025 and 2027. Inspired by the use of Starlink terminals in the war on Ukraine, Taiwan is now reportedly looking for investors to fund its own domestic satellite network." Read on.