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Arm Extends AI Reach From Data Centers To Edge Devices
Chip designer Arm previewed new innovations in its AI compute portfolio spanning data centers to edge devices. Arm stock rose Tuesday.
Red Cell Partners lands Pentagon contract that could generate $100M for its portfolio startups
Red Cell Partners, a McLean venture firm, won a Pentagon contract worth up to $100 million to identify cost-saving opportunities using AI technology from its portfolio startups.
Qualitas Energy buys Cero Generation’s 5.8GW European renewables business
Renewables investment platform Qualitas Energy has bought Cero Generation’s 5.8GW European solar PV and energy storage project portfolio.
Warner Bros. Discovery to Showcase Entertainment Portfolio at BLE
Warner Bros. Discovery Global Consumer Products highlights franchises including Harry Potter, DC and animation properties at the London trade show.
Philips Expands Women's Health Ultrasound Portfolio With New Transducer
PHG broadens women's health ultrasound portfolio with the eV14-2v, offering enhanced imaging, a lighter design and remote collaboration.
Deaplaneta Entertainment Appointed as Licensing Agent for Global Merchandising Services’ Music in Iberia, France and CEE
The DeAPlaneta Entertainment portfolio has announced it has been bolstered by the addition of Iron Maiden, Evanescence, Motörhead, Ozzy Osbourne and Backstreet Boys. The company has reached an agreement with Global Merchandising Services for the former to act as the licensing agent for the artists in its catalogue in Iberia, France, and CEE. This appointment […]
Former Hartford HealthCare manager builds 300-plus unit CT real estate portfolio
Alex Ilchenko left Hartford HealthCare to build Blue Key Property Group, which now owns or has stakes in more than 300 Connecticut apartments.
Samsung Medison Expands Women’s Health Diagnostic Portfolio With Launch of Premium Ultrasound ‘ ...
The new addition completes the HERA Z Series lineup (Z20 & Z10), empowering clinicians wit
A huge real estate sale, a new step in cancer detection, and more Milwaukee business news
Milwaukee Business Journal Editor-in-Chief Tim Gibbons joined Wisconsin's Weekend Morning News to discuss the Mandel Group's $600M apartment portfolio
Jhalesa Seymour started a soap business with $67 in college — it's now done over $16 million in sales
The founder has one lesson that applies to anyone trying to manage a growing portfolio.
Should US Court Scrutiny of Prediction Markets Require Action From Flutter Entertainment (FLUT) Investors?
In recent weeks, Flutter Entertainment has seen sentiment improve as the prospect of a US Supreme Court review of sports prediction markets and fresh analyst coverage refocused attention on its core US sports betting exposure and broader global portfolio. This shift comes after a very large reset in expectations over the past year, leaving valuation metrics suggesting the business screens as relatively inexpensive while ongoing regulatory and legal uncertainties remain central to how...
NASA’s 2024 DALI Award Selections
The DALI24 projects will expand NASA’s portfolio of technology available for the development of instruments for use in future lunar missions, including the
2024 MatISSE Program Selections
The MatISSE 2024 projects will expand NASA’s portfolio of instrument technology available for the development of missions exploring a wide range of
General Mills closes sale of Brazil food business
Transaction with Grupo 3corações advances portfolio revamp.
Frontier Developments announces collaboration with Disney for new game
Frontier Developments has entered into an agreement with Disney to develop and publish a new game that draws on Disney’s portfolio of intellectual property, the company announced.
Studio71 Alum Joseph Marchese Joins Bent Pixels as Head of Creator Strategy and Business
Joseph Marchese has joined creator network Bent Pixels as executive VP of creator strategy and business as the firm revs up its portfolio of support services offered to attention-economy clients. Marc...
August Monthly Review: ChatGPT In Epic
Death, taxes, another frontier lab healthcare launch inspiring truly insane LinkedIn takes. As much as I want to stay away, I repeatedly am the crewman unplugging his ears whenever we pass these sirens. So it’s not the first and probably not the last time we dial up the typewriter rather than tie ourselves to the mast. The full blow-by-blow timeline: Health API Guy is a reader-supported publication. To receive new posts and support my work, consider becoming a free or paid subscriber. Subscribe The End of the Standalone PHR (Jan 8): ChatGPT Health arrives for consumers, at the time powered by b.well. I was bullish on the approach in that the best way for the PHR to finally solve distribution was to meet consumers were they already are (i.e. When Horizontal Meets Healthcare (Jan 9): OpenAI for Healthcare puts out the shingle for enterprises, with SharePoint ingestion standing in for the EHR integration the product actually needed. Another One: Anthropic’s Healthcare Debut (Jan 16): Claude's version, on HealthEx rails instead of b.well, with Agent Skills for FHIR development as the one true vertical-specific investment. ChatGPT for Clinicians: The Trap Sprung (Apr 24): OpenAI filled in the missing GTM middle with a free product for verified clinicians, effectively peeling the enterprise wrapper off ChatGPT for Healthcare and taking the PLG fight directly to OpenEvidence. OpenAI’s Second Attempt at Health (Jul 31): a relaunch of their patient specific app, now branded Health in ChatGPT, where the privacy partition came out, the connectors thinned, and b.well disappeared in favor of first-party FHIR work against a smaller network Beyond a Shingle So what was announced now? Today, we’re introducing a new electronic health record integration that brings authorized patient context from Epic into ChatGPT for Healthcare, along with the Healthcare Public Data plugin for direct, structured access to official healthcare datasets like PubMed, DailyMed, and CMS Coverage. Together, these capabilities bring ChatGPT closer to the systems and sources healthcare teams trust, while supporting the controls and compliance healthcare work requires. The core portfolio is unchanged from prior announcements we delineated and discussed (aside from the relaunch of patient-facing). Since trade publications still seem to be confusing them by using the wrong names: Enterprise sales motion: ChatGPT for Healthcare Protecting their core product / PLG: ChatGPT for Clinicians Consumer/patient-facing product: Health in ChatGPT So really, this is a feature release (specifically for ChatGPT for Healthcare when it comes to EHR integration). What’s cool about it, though, is that we are moving beyond just putting out a shingle. Everything in the January enterprise launch was horizontalizable: Horizontal tech companies thus generally start verticalization with their “putting out a shingle phase”. Telling the world you’re open for business as a horizontal tech company reliably attracts early inbound interest from buyers who are already trying to force-fit horizontal tools into domain-specific workflows and are eager for any signal that the vendor intends to support their use case more directly. Nothing was really vertical specific, which is exactly what you'd expect from the ultimate hypergrowth horizontal company dipping their toes into specific industries. But eventually you have to stop changing the sign on the door and start changing the product. Can you guess where the horizontal product was going to run out of road? This is the core dilemma writ large: verticalization requires differentiation, while scale economics of consumer and horizontal push toward unification. I’ve buried the lede so deep here it will be painful to some readers, but what should be shocking to no one is that my perspective is that EHR integration is the only path that meaningfully resolves this tension for ChatGPT for Healthcare. Integration with Microsoft Sharepoint is fine, but it is categorically insufficient for any product that hopes to influence clinical decision-making. SMART Money Well here we are, eight months later! Real vertical investment has begun, which surprised a few people. One friend in the industry messaged me: “Absolutely no way Epic gave ChatGPT API access.” Looking forensically at the announcements, the integration is notably read-only across appointment notes, laboratory results, medications, and specialist documentation. So while I’m not a betting man, I'd wager the house this is a SMART on FHIR launch: That sounds a lot like USCDI! The recommended path for the workflow they outline would be SMART on FHIR Their Health AI lead’s post is evocative of both standalone and EHR launch SMART, which another termed “ChartGPT” and “EHR Plugin” The implementation burden for SMART on FHIR is the lowest of the available integrative paths This is the team who literally did patient-facing SMART on FHIR with Epic last month Most importantly, if you’re a horizontal company, you generally still haven’t taken the full plunge and thus (overly) value reusability. SMART on FHIR is the logical compromise: healthcare-specific enough to matter, but standardized enough to reuse. Nobody Asked Judy Another friend asked “I thought they had to go to each health system, or did they go direct to Epic and now health systems opt in?” Given the trust paradigms in healthcare, this functionally cannot be Epic hoovering up all the data for OpenAI and shoving ChatGPT in their customers’ faces (or they would revolt). However, I do believe the aforementioned terrible coverage by TechCrunch and other outlets is probably responsible for that question, given the 325 million reference. When using FHIR as a business associate to an Epic customer, there is no EHR gatekeeping to speak of, as that isn’t how fhir.epic.com works: You register an app You pick your APIs You test against the sandbox APIs You list as “Ready for Production” Hospitals pick your app You test and go live with them Bluntly, nobody had to say yes or no in Verona (nor were they given the chance). Vendor Services (their next developer tier up that I doubt OpenAI is using quite yet in this initial release) certainly has contractual paperwork that some resent, but even there, the twin pressures of mounting antitrust and information blocking make outright gatekeeping increasingly fraught. My friend’s sentiment is, to me, representative of a broader industry neurosis, perhaps a sort of scar tissue of prior eras: people assume the gate is still there and never actually try the door. There are certainly other ways Epic (and any EHR) can put its thumb on the scale, but they are not so dumb as to stand in front of a federally mandated API and play bouncer at this exact moment in time. So I think they can and probably should go deeper, as this release is at best parity and at worst behind vertical-specific competition. OpenEvidence did a basic SMART launch with Sutter Health in February, allowing for more convenient evidence search by providers. They then add patient-context (the equivalent SMART on FHIR flow to what we see here) when Cedars-Sinai went enterprise-wide in May. UpToDate has four distinct applications across deeper workflows like patient engagement listed in Epic Showroom and announced a partnership with Epic to power Art at UGM Abridge and other ambient scribes have invested deeply into the deepest bidirectional clinical copilot workflow with integrations well beyond SMART on FHIR. In that light, the “Who is OpenAI primarily targeting here?” is clear. This release brings them into striking distance of OpenEvidence, but not the others quite yet. They are the only one of the three you can reach without building something truly Epic-specific. When will they go further? Competition is a great motivator to overcome the horizontal demons and start building things that can’t be reused: not across industries, not across EHRs, maybe not past the customer you built them for. That’s the price of actually verticalizing. The question is if and when OpenAI will be willing to pay it. Month in Review Here is the monthly review. As a reminder, this is a regular round-up of the month’s posts and other content to surface things you may have missed across regulation, litigation, interoperability, and beyond. AI assistance is used in these bullet summaries so I can focus on articles. Articles Published: None this month Video Content: The Information Exchange: Standards-based Thruple Edition (Aug 14): Back to school for us too, with Brad reporting in from the CMS Health Tech Ecosystem’s one year anniversary in DC. We get into the January CMS-0057 deadline, the fall rulemaking reading list, and why enrollment still keeps most apps off FHIR. The Information Exchange: Epic Dúnadan Edition (Aug 25): A UGM roundup with Ryan Brickner joining for the first time to check our takes against what the building actually thinks. Rangers, Ergo sitting on top of EHI, and a down-market lineup that needs some cuts. Regulatory: Stacked Deck, Bad Hand (Aug 05): ONC’s website refresh took the entire HIT Policy Committee record with it, so I rebuilt the archive and went looking for the regulatory capture story everyone assumes is buried in there. Stacking the deck and winning the hand turn out to be very different things. The Sixth Generation of Patient Access (Aug 19): A quick catalog of the five generations of patient access we’ve layered on since HIPAA, and the two candidates now competing to be the sixth. One is planned. The other is the market routing around the plan entirely. Court cases: Three Cases Walk Into a Docket (Aug 06): Two surprise settlements cleared the board in a single week, and then Judge Maddox dropped ninety-four pages on Vyne v. Henry Schein. The sleeper is a DMCA holding that makes direct-to-database a considerably riskier business model. Epic v. Health Gorilla: Into the MDL (Aug 10): Nine class actions are headed to Miami, and the Panel signaled it wants to bring the case that spawned them along too. That would leave Epic arguing the requests were obviously fraudulent in one courtroom and unknowable in the other. Amazon v. Perplexity: Agents Are Legalized! (Aug 11): The Ninth Circuit vacated the injunction against Comet, holding that the user is the one accessing the servers rather than the company that built the agent. A real win for agentic access, and a much narrower one than the headline suggests. Veeva v. Epic: Come At Me, Bro (Aug 26): Epic’s response brief wants the dismissal affirmed and, unusually, wants the opinion published as precedent. Buried in it is Epic’s own description of what its non-competes actually prohibit, which current and former employees should read closely. EHRs: The Contract Epic Would Never Sign Today (Aug 04): A 1999 SEC exhibit catches Epic licensing nearly its entire product line, Tapestry included, to the company that became TriZetto. The marketing services menu attached to it is the part that will make you blink. Forecast from Verona (Aug 07): The Epic Almanac makes one argument six different ways: the AI is only as good as the networks behind it. Emmie headlines, Art’s context stack is the most ambitious part, and Penny finally gets an autonomous coding date on the calendar. Works With Epic MyChart (Aug 17): Epic’s first new Showroom category since the death of Workshop certifies hardware instead of software, badge on the box and all. Made for iPhone, but for blood pressure cuffs, and rough news for anyone selling the RPM stack sitting in between. UGM Hot Takes 2026 (Aug 20): Everyone else covered the AI announcements, so I went after Savvy deleting the payment gateway, Rangers as Boost with the timer removed, and a down-market lineup with too many entries. Plus the Health Grid tidbits I cannot help myself on. MyChart Central Grows Up (Aug 24): Device data and Emmie turn Epic’s identity hub into a full consumer platform, which is both a logical answer to ChatGPT and a bit of a mistake. It also happens to be the best scraping target Epic has ever shipped. Industry Analysis: The Wrong Yardstick (Aug 12): Vertical software keeps getting judged against Superhuman and Notion, which is the wrong bar entirely. Your user is comparing your product to a whiteboard and forty phone calls before lunch. Primitives vs. Abstractions (Aug 27): Developers want building blocks, systems of record prefer to hand out business logic, and both sides have a real case. There’s no test from the outside that separates the engineering reason from the competitive one, which is why this keeps ending up in court. Cross-industry Comparisons: The Two Kinds of Platform Power (Aug 18): Attention power and record power are different problems that keep getting handed the same regulatory toolkit. Congress’s latest swing at Big Tech shows both what’s possible and where it falls apart. The Dogs of (Platform) War (Aug 21): A CourtListener alert turned up a property management fight with healthcare’s exact shape and none of the Cures Act. Shell prospects, ghost accounts, a notetaker bot that came back to haunt someone, and a lawyer arguing both sides of the same theory in two states. Fractals All the Way Down (Aug 31): Yardi dominates property management right up until you zoom into one segment, where AppFolio owns it outright and Yardi doesn’t appear at all. Where you draw the line around a B2B software market is about to decide an awful lot of cases. Other News: If Judy Had the Courage (Aug 13): A short eulogy for the era when software was allowed to look insane: WinAMP, bold colors, and everything the grey chatbot era has taken from us. External Media: Portland Monthly Health Tech Meetup: Erin O’Brien channeled my own feelings - maybe it’s just because it’s August and beautiful, but the monthly edition of the PDX Health community meetup was a ripper. Make sure to reach out if interested to join for the next one. STAT’s Coverage of Epic This Month: Brittany Trang of STAT did a fantastic job of breaking the FTC investigation that’s been lurking, as well as UGM related coverage, so I had to give her her wish of a meme. Fall Conferences: I’m pumped to be kicking off my fall conference season in NYC at Nabla Accelerate next month, which Chrissy provided the link to apply for. Here’s the rest of my schedule in case you want to meet up: Commonwell (Redwood Shores, CA): Oct 13-14 Open@Epic (Madison, WI): Oct 21-22 eHealthExchange (Austin, TX): Oct 27 Sequoia Project (Austin, TX): Oct 28-29 HLTH (Vegas): Nov 15-18 RSNA (Chicago): Nov 29-Dec 3 Posts I Liked: HTI-6 Should Unbundle API Certification: Josh Mandel makes the case that HTI-6 should split (g)(10) into separate authorization and data certifications, so a PACS or a genomics platform can certify only the role it actually performs. Imaging is the urgent example, but the structure solves a much bigger problem. On implementing ePrior Auth with Epic: Scott Rossignol’s field notes from a live ePrior Auth build on Epic, including the two app registrations nobody warns you about and the CPT mapping problem waiting at the end. CMS-0057 implementations are going to be such a beast. Healthcare point solutions are starting to look a lot like streaming services: Spencer Dorn runs the cable-to-streaming arc against health IT and lands squarely on the bundling half of the cycle. Bundling can be good! It can also be bad! Life is nuanced. Health API Guy is a reader-supported publication. To receive new posts and support my work, consider becoming a free or paid subscriber. Subscribe
Nestle Inks $1 Billion Deal to Sell Health-Supplements Brands to Private Equity Firm
Nestle will sell its mainstream vitamins, supplements and minerals business to Yellow Wood Partners, the latest move to tighten its portfolio and focus on core categories.
Nestle Inks $1 Billion Deal to Sell Health-Supplements Brands to Private Equity Firm
Nestle will sell its mainstream vitamins, supplements and minerals business to Yellow Wood Partners, the latest move to tighten its portfolio and focus on core categories.
Family Entertainment Group Expands Hospitality & Entertainment Portfolio Through Strategic Partnership with Topgolf
/PRNewswire/ -- Family Entertainment Group (FEG), one of the nation's premier developers and operators of entertainment experiences, today announced a new...
Nexpring Health to expand Cook Medical facility for fertility solutions
Parks Township will soon be home to the largest reproductive health manufacturing facility in North America. Cook Medical-Vandergrift in Parks Township is in the process of expanding after its reproductive health portfolio was acquired by Nexpring Health, a global medical technology production company that specializes in assisted reproductive technology. “One
Caesars Entertainment Launches Ball Rush Jackpots™ in New Jersey, the Latest Proprietary Online Title from Empire Creative™
New ball-and-peg style online casino game combines customizable gameplay, layered bonus features and dynamic jackpot opportunities LAS VEGAS (Aug. 28, 2026) Caesars Entertainment, Inc. (NASDAQ: CZR) (Caesars) today announced the launch of Ball Rush Jackpots(tm) , a new ball-and-peg style online casino game developed by Empire Creative(tm), the Company's in-house game development studio. Now live in New Jersey across Caesars Palace Online Casino, Caesars Sportsbook Casino and Horseshoe Online Casino, Ball Rush Jackpots is expected to become available in additional jurisdictions where Caesars offers online casino gaming following regulatory approval. The title expands Caesars' growing portfolio of proprietary online casino titles, following the successful launch of Ca$hline(tm) earlier this year and further diversifying the Company's lineup beyond traditional slots and table games. Ball Rush Jackpots follows the traditional ball-drop gameplay
Nine Entertainment Reports an In-Line Fiscal 2026 Result
Morningstar is an investment research company offering mutual fund, ETF, and stock analysis, ratings, and data, and portfolio tools. Discover actionable insights today.
PLT Health Solutions Brings Its Clinically Supported Branded Ingredient Platform to Vitafoods Asia
PLT Health Solutions, Inc. will exhibit for the first time at Vitafoods Asia, 2-4 September in Bangkok, Thailand, bringing its portfolio of more than 30 clinically supported branded ingredients to Asian brand owners and product developers. A major focus at the show will be the company's joint health and mobility portfolio. PLT will bring next-generation Kinexa™ Joint Longevity Complex to the Asian market for the first time. PLT introduced Kinexa™ in 2016 and has continued to develop the ingredie
Main Street Sports sues Comcast, Charter for underpaid licensing fees
Main Street has been in the process of winding down its portfolio of regional sports networks since the the NHL and NBA seasons ended earlier this year.
Nasr AbuOleim on Overcoming Entrepreneurship Challenges and Building a Statewide Business Portfolio
Discipline, humility, and a willingness to put in the hard work would ultimately reshape AbuOleim’s outlook on life. As he enrolled in the University of South Florida to study engineering, he chose not to let discomfort discourage him.
Delaware North names Seth Rose president of its Patina Group business
Veteran hospitality leader to oversee Delaware North’s premium restaurant and hospitality business BUFFALO, N.Y. (Aug. 18, 2026) – Delaware North, a global hospitality and entertainment company, announced today that Seth Rose has been promoted to president of its Patina Group business. In this role, he will lead a nationwide portfolio of premium restaurants and catering […]
Sinclair's AMP Sports Expands College Football Podcast Slate with THE RIVERSIDE: A Podcast on the Tennessee Volunteers
Produced in Partnership with Fox 17 Nashville, The Riverside to Launch on August 25 with hosts Phillip Fulmer, Erik Ainge, and Fred White BALTIMORE – August 17, 2026 – Sinclair's AMP Sports today announced the launch of THE RIVERSIDE: A Podcast on the University of Tennessee Volunteers, continuing the expansion of its growing portfolio of...
Future of battlefield medicine showcased at 2026 Military Health System Research Symposium
Driving rapid capability development for the front line, team members from the Portfolio Acquisition Executive for Medical Products (PAE-MP) highlighted critical medical solutions during the annual Military Health System Research Symposium in Kissimmee, Florida, Aug. 3 – Aug. 6, 2026.
Magic Johnson on what it takes to build a billion-dollar business portfolio
"I've always gravitated to people who are smart or have been through something because I want to learn," Magic Johnson said.
Mesirow Fiduciary Solutions Acquires flexPATH’s 3(38) Business
The transaction will deepen the company’s custom portfolio and investment lineup service capabilities.
Google unveils Pixel 11 lineup, new AirTag rival, and Gemini features at Made by Google 2026
From the Pixel 11 series and a brand new competitor to Apple’s AirTag, here are all the announcements from the Made by Google 2026 event.
Sports hospitality veteran Don Dierig named chief operating officer of Sportservice
Delaware North, a global hospitality and entertainment company, today announced the promotion of Don Dierig to chief operating officer of Sportservice, its sports hospitality business. As chief operating officer, Dierig will lead Sportservice’s day-to-day food, beverage and retail operations across the company’s portfolio of sports venues spanning Major League Baseball, the National Football League, the […]
Joby Aviation to Scale Defense Business Through Acquisition of Resonant Sciences
Acquisition will significantly expand Joby’s defense business by adding a fast-growing company with established programs, classified capabilities and scaled manufacturing operations` Upon closing, Resonant will become Joby’s dedicated defense business, continuing its existing programs while expanding its portfolio to include Joby’s hybrid aircraft and autonomy technologies. Joby’s commercial aircraft business will remain focused on its electric air taxi initiatives Combination will create immediate opportunities to unite Joby’s dual-use aircraft, propulsion and autonomy technologies with Resonant’s radio frequency (RF), sensing and mission systems capabilities as well as its world-leading expertise in low-observability aircraft design Resonant delivered more than $100 million in trailing-twelve-month revenue, representing approximately 40% year-over-year growth, alongside strong adjusted EBITDA generation, driven primarily by long-cycle programs with the U.S. government, prime contractors and next generation defense technology programs
Millennium Hotels and Resorts Partners with HXE to Strengthen Global MICE Business Through Digital Innovation
Millennium Hotels and Resorts (MHR), a global hospitality leader with a portfolio spanning key destinations worldwide, has entered into a Strategic Partnership Program agreement with HXE in Singapore. The partnership combines MHR's global hospitality network with HXE's digital MICE platform to create new opportunities for corporate meetings and events while supporting the growing demand for seamless, technology-enabled event planning.
Archer Aviation Exec Says Boeing Deal Will ‘Significantly Change the Profile’ as $200 Million Insitu Business Joins Portfolio
Archer Aviation Inc.‘s (NYSE:ACHR) deal with Boeing Co. (NYSE:BA) could significantly reshape the electric vertical take-off and landing (eVTOL) company. Insitu’s $200 Million Revenue Business During the company’s second-quarter earnings call on Monday, Archer’s Chief Financial Officer Priya Gupta hailed the company’s acquisition of unmanned aircraft systems manufacturer Insitu, as well as autonomous eVTOL maker Wisk Aero and SkyGrid in an all-stock deal. Read Also: Rocket Lab USA, Hims & Hers,
Fox alum Tarik Ryant hopes to build legacy with growing business portfolio
Chef Reeky stands outside Cheezy Vegan in South Philadelphia, where he now operates one of his two restaurants after rebuilding his life through entrepreneurship.
Fox alum Tarik Ryant hopes to build legacy with growing business portfolio
Chef Reeky stands outside Cheezy Vegan in South Philadelphia, where he now operates one of his two restaurants after rebuilding his life through entrepreneurship.
Saudi Entertainment Ventures opens first Seven entertainment destination
Saudi Entertainment Ventures has opened Seven Abha, marking the first operational destination in its planned nationwide portfolio of integrated entertainment centres.
Retail traders are still copying Leopold Aschenbrenner's portfolio
A website that allows investors to copy Aschenbrenner's trades has $28 million mimicking him, and up 30% from last week's lows.
Sanofi suspends chronic lung disease phase 2 study, tied to ‘strategic business reasons’
Sanofi halted a phase 2 trial testing a monoclonal antibody, SAR445399, in non-cystic fibrosis bronchiectasis, Fierce Biotech has learned. The trial, which began only back in April, was a randomized, double-blind, placebo-controlled study to measure the reduction in mucus plug score following treatment with SAR445399 compared with placebo in adults aged 18 to 80 years with NCFB, a chronic lung disease. The trial was officially reported as halted on July 29, the day before Sanofi’s second-quarter earnings call. The decision to pause the trial was made “as part of a company-wide portfolio review for strategic business reasons,” and not due to safety concerns, a Sanofi spokesperson told Fierce. The move to pause the NCFB trial comes during a trying time for Sanofi following a year filled with a series of trial fails. In February, the French pharma ousted CEO Paul Hudson and appointed Merck KGaA leader Belén Garijo, M.D., Ph.D., to steer the ship. Since then, Garijo has been doing a deep dive on correcting the company’s strewn R&D and clinical strategies. On July 24, Sanofi scrapped amlitelimab for atopic dermatitis, despite its lore as being a potential $5 billion blockbuster. During its second-quarter report, the company abandoned two more assets, balinatunfib and itepekimab, following failed trial results in psoriasis and chronic obstructive pulmonary disease, respectively. SAR445399, only first revealed by Sanofi in 2023, is an anti-interleukin-1 receptor 3 monoclonal antibody developed to block the interleukin 1, 33, and 36 cytokine pathways. These pathways can be important in chronic immune-related dermatologic diseases, such as atopic dermatitis and hidradenitis suppurativa, as well as respiratory conditions, such as NCFB. Related Sanofi’s new CEO ‘looking deeply’ at late-stage pipeline as clinical clearout continues NCFB affects roughly half a million people in the U.S., with a global incidence of greater than one million cases. In August 2025, Insmed received FDA approval for Brinsupri, a DPP1 inhibitor targeting neutrophil activation, for treatment of NCFB in adults and kids ages 12 and older. The British biotech Infex Therapeutics showed promising NCFB phase 2a data using their monoclonal antibody, INFEX702, which acts by disabling Pseudomonas aeruginosa, a bacteria known to be a major pathogen of NCFB. Sanofi is currently running a separate phase 2 study testing SAR445399 as a potential treatment for the inflammatory skin condition hidradenitis suppurativa.
Procter & Gamble acquires Thorne for $3.8bn in bet on science-backed supplement growth
The deal, expected to close in Q4 2026, brings Thorne's clinically validated, practitioner-trusted supplement portfolio into P&G's consumer health stable — signalling mainstream consumer goods giants' accelerating move into premium VMS
Thorne to Join P&G Health Care Portfolio
P&G shares intention to acquire Thorne, expanding Health Care's science-backed, practitioner-trusted wellness solutions for today's consumers.
FTC Live Investing In Ecuador's Live Entertainment Ecosystem With Arena Bicentenario
FTC Live, an Ecuadorian entertainment company that has produced some of the country’s biggest shows, is adding a venue to its portfolio and expanding the
Renewables in Europe: TotalEnergies Acquires Shell’s Renewables Business and Sells a 50% Stake in a Portfolio of Developed Assets to KKR
Paris, August 3, 2026 – In line with its Integrated Power strategy in Europe focused on selected deregulated markets, as illustrated by the recent transaction with EPH, and with its business model designed to optimize capital allocation in renewables, TotalEnergies announces the signing of two transactions in Europe: The…
5 Of The Best Anker Accessories For Samsung Users
Anker's accessory portfolio for Samsung phones includes wireless charging stands, fast-charging bricks, and even USB-C dongles to connect external devices.
BP launches sale process for North Sea business as CEO pushes overhaul
BP on Friday launched a formal process to market its North Sea business for a potential sale, as new Chief Executive Officer Meg O'Neill accelerates a sweeping portfolio overhaul aimed at cutting debt and simplifying the oil company.
BP Starts Process for Potential Sale of Its North Sea Business
BP Plc said it’s starting a process to market its North Sea business for a potential sale, as part of a wider review of the oil major’s portfolio.
Tesla weighs sale of China business to pave way for potential SpaceX merger, WSJ reports
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Situational Awareness keeps Anthropic stake in portfolio sale to Citadel
Ken Griffin's fund bought a majority of Leopold Aschenbrenner's public equities book, but none of the firm's private holdings.
2 'red lines' in Iran war to watch to know when to de-risk portfolio
While there are several potential red line scenarios, two of them stand out as "edging closer to reality," MRB Partners says.
Milliman Acquires Blue Water MSR Valuation, Hedging Business
Milliman has acquired Blue Water’s mortgage servicing rights valuation and hedging services from Apex Analytics Corp., extending a wave of mortgage industry investment beyond servicing portfolios themselves to the technology and expertise used to manage their value.The transaction adds Blue Water’s MSR hedging platform, customer base, trading professionals, and quantitative analytics team to Milliman’s mortgage solutions practice. Financial terms were not disclosed.
eBay Sports Card Sales Cross $1 Billion in a First Half for the First Time: Inside the $1.36 Billion H1 2026 Numbers
At Yahoo Finance, you get free stock quotes, up-to-date news, portfolio management resources, international market data, social interaction and mortgage rates that help you manage your financial life.
MATTEL AND LUCHA LIBRE AAA® ANNOUNCE WORLDWIDE LICENSING PARTNERSHIP
EL SEGUNDO, Calif., July 23, 2026 — Mattel, Inc. (Nasdaq: MAT), a leading global play and family entertainment company, and WWE, the global leader in sports entertainment, today announced a new multi-year global licensing agreement at their joint San Diego Comic-Con panel that expands Mattel's WWE portfolio to include Lucha Libre AAA Worldwide (AAA), one of Mexico's most iconic and influential lucha libre promotions.
FloSports Launches Free Streaming Channel on Prime Video in the U.S.
The FloSports Channel To Showcase Entire FloSports Portfolio Of More Than 25 Sports To Passionate Fan Communities.
Anabi Oil partners with Accel Entertainment to support 600 gaming terminals at Green Valley Grocery stores
Agreement extends Anabi's existing relationship with Accel across its southern Nevada convenience-store portfolio, including the Rebel brand
DOE Unveils First Genesis Mission Awards for AI-Driven Science
Nearly 300 projects selected from historic RFA response spanning all 50 states to accelerate breakthroughs in energy, discovery science, and national security. WASHINGTON, July 22, 2026 — The U.S. Department of Energy (DOE) today announced the first projects selected under the Genesis Mission Request for Applications (RFA). The national portfolio of research teams will help develop […]
Philip Morris Sales Boosted by Growth in International Business
Philip Morris International recorded higher revenue in the second quarter, boosted by growth in its international business and its Zyn portfolio in the U.S.
Science department abolished as UK’s new prime minister Andy ...
New business secretary Jonathan Reynolds given responsibility for science and innovation portfolio
SuanNutra expands natural ingredients portfolio with IFF business acquisition
The nutraceutical ingredients supplier is set to acquire a portfolio of speciality natural ingredients businesses from IFF, creating a global ingredients group spanning branded actives, botanical extracts, fermented nutrients and clean-label food solutions
ZeniMax Online Studios leadership to exit as part of Xbox cuts
There are major changes happening atop Maryland-based ZeniMax Online Studios, developer of the Elder Scrolls Online, Game File has learned. Joe Burba, a 14-year veteran of the studio who was appointed to run it last July, is departing, along with ESO executive producer Susan Kath, studio game director Rich Lambert and production director Ala Diaz. Their roles were listed among hundreds of others cut last week from the Maryland offices of ZeniMax, in a WARN letter sent to the state by ZeniMax and obtained today by Game File. Tonight, BUrbam Kath, Lambert and Diaz notified Zenimax Online Studios workers of plans to “transition” to a new leadership team consisting of promoted ZOS veterans. That transition will occur “over the next few months,” they told workers, according to a copy of the notice reviewed by Game File. “We will remain in place during the transition period to help ensure a smooth handoff.” Last week, Microsoft laid off of 1,600 workers across its vast gaming teams in locations around the U.S. and abroad. Just who has been impacted and how hard various studios have been hit has been emerging day by day. Game File reported last week that Microsoft/ZeniMax notified officials in Maryland that 379 gaming jobs were being cut across the state. They tallied cuts in two locations: one for ZeniMax Media Inc. (covering Elder Scrolls/Starfield/Fallout-maker Bethesda Game Studios and central Bethesda game publishing) and one for ZeniMax Online Studios (Elder Scrolls Online). More than 200 jobs were cut at the latter. Last week’s totals did not reveal job titles, nor did Microsoft announce any leadership changes in the ZeniMax group. That has now happened. Earlier today, Game File obtained from Maryland officials a breakdown of the 379 impacted roles, which, extraordinarily, included “studio head.” Microsoft later confirmed to Game File which studio head that referred to: ZeniMax Online Studios’. Microsoft has since has notified studio employees and internally announced new leadership. ZOS will now be run by Josh Henderson, previously head of business operations at the studio, and Nick Giacomini, who was promoted to game director for ESO last August. Game File is a reader-supported publication. To receive new posts and support my journalism, please consider becoming a free or paid subscriber. Subscribe Last week’s news of 200+ cuts at ZeniMax Online Studios generated public sympathy for those workers and questions about the long-term viability of the Elder Scrolls Online. ESO is a massively multiplayer online game that inherently persists on the strength of new content being developed for it. Earlier today, fans and workers in Maryland protested the cuts at the ZeniMax teams in a rally organized by the Communication Workers of America, the union that represents many of the impacted employees. Regarding concerns around the game, a community manager stated on Saturday: “The plan is still to deliver great content, and we will hopefully have an update soon.” In their note to the studio today, the outgoing leaders of ZeniMax Online Studios predicted “growth” for the game: We have tremendous confidence in Josh and Nick, the future of this studio, and the continued growth of ESO. With exciting experiences still ahead for our players as we wrap up work for Update 51 and beyond, we believe that your passion, creativity, and commitment to each other and the community will continue serving as the heartbeat of ESO. The list of jobs cut in the ZeniMax WARN notice in Maryland includes several very senior roles, including: Studio Head Studio Operations Director Studio Game Director Studio Audio Director Studio Art Manager Vice President and Controller VP, Global Sales & Business Development While some of those job descriptions match the exiting ZOS leadership team, Game File couldn’t verify if all were from that studio. The full list of cut roles shared by Maryland officials also covers workers at Bethesda Game Studios and its central publishing office. The following is an excerpt: The list of 379 eliminated ZeniMax jobs in Maryland also includes: four animators three bilingual CS (community service) leads for Chinese, Italian, and Japanese a creative director for the Elder Scrolls Online Player Life Cycle two food service workers seven producers more than 60 senior QA testers. and many others The WARN notice states that almost all of the 379 workers were notified of their layoff on July 6. In fine print, it states: “Approximately 9 employees were notified of the elimination of their position prior to July 6, 2026.” A 2021 mega-merger scaled back Microsoft announced in 2020 that it intended to buy ZeniMax and its network of game studios in 2020, and closed the $7.5 billion deal in March 2021. The purchase, which preceded Microsoft’s acquisition of Activision Blizzard, added several award-winning studios to Microsoft’s portfolio, including Bethesda (Elder Scrolls, Fallout), Arkane (Dishonored), and id Software (Doom). The studios’ output since then included a 2024 Game of the Year contented from MachineGames in the form of Indiana Jones and the Great Circle along with Starfield from Bethesda and the poorly-received Redfall from Arkane Austin. In recent years, a Microsoft repeatedly in cutback mode closed ZeniMax’s Tango Gameworks (which was reconstituted by Krafton) and closed Arkane Austin. The Xbox cuts last week have hit the ZeniMax group hard, with 158 jobs eliminated in Texas, many of them at id, and 379 from the ZeniMax teams in Maryland. Xbox also said last week that it would be entering a consultation process around Arkane Lyon, a process expected to end in a sale, shutdown or other form of divestment. The Lyon team has been working on a game tied to Marvel’s Blade vampire-hunting super-hero.
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It's Xbox's turn (again), as console prices keep going up
Microsoft announced a price hike for the Xbox Series consoles today, the third in little over a year. Effective August 1, the Xbox Series S, which launched in 2020 for $300, will cost $500 in the U.S. The Xbox Series X, which launched in 2020 at $500, will go for $800. This follows a round of PlayStation 5 price increases from Sony this spring, and a slow-motion increase for Nintendo’s Switch 2, which will kick in in the U.S. in September. (Mind you, there were also eight video game industry price hikes in six months of 2025). The chart up top shows the sudden ascent of console prices over the past year, a sudden surge in an already unusual hardware generation. Prices had been flat for years, now “up” is the new “flat.” Game console prices used to go down across the length of a console generation, but not this time around. Microsoft’s explanation for the new price hike today: We hoped another price increase would not be necessary, and we have spent the last several months working with suppliers on options. Unfortunately, console storage and memory prices have increased by more than 2.5x and we expect another doubling by the fall of 2027. The entire consumer electronics industry is struggling with the current components crisis, but the effects are particularly hard on consoles. Unlike phones, computers, speakers, and other consumer devices, consoles are typically not sold at a profit, but instead for less than they cost to make. This is an issue well beyond game consoles. Apple announced price hikes on its computers and tablets today as well. Game File is a reader-supported publication. To receive new posts and support my work, consider becoming a free or paid subscriber. Subscribe Item 2: Brutal Bungie cuts Bungie laid off “most” of its Destiny development team and some developers who worked on Marathon, the newest game from the struggling Sony-owned studio. A WARN notice issued by Sony to Washington State, where Bungie is based, tallied cuts impacting 292 workers, effective next month. That’s strictly for Bungie/Sony jobs in Washington and wouldn’t account for any elsewhere. The video I clipped below shows the redacted list of Bungie cuts filed to Washington State officials. As you’ll see, I had to scroll for a while… In a note emailed to PlayStation workers and published online, PlayStation game studios chief Hermen Hulst offered the following explanation for these latest cuts at Bungie: This is painful news, especially for talented colleagues whose roles have been eliminated. This decision was made only after extensive discussion and careful consideration, and I want to provide some context on how we arrived here. Over the past several months, together with Bungie leadership, we reviewed the studio’s long-term direction, development priorities, resource needs, and role within our broader portfolio strategy. We explored multiple alternatives before concluding that a reduction was necessary to align the studio’s resources with its current priorities and long-term goals. In 2022, Sony bought Bungie for $3.7 billion. The studio’s marquee game, the multiplayer live service shooter Destiny 2 was losing popularity at the time. Its next game Marathon, released earlier this year, has been well-reviewed but had a slow start. Bungie is renowned for making great shooter games, and Destiny fans have mourned the wind-down of Destiny 2. They’ve also expressed bewilderment over reports that Destiny 3 is not, per Bloomberg, immediately in the cards.
Making Our Own Luck
We are cross-posting a piece that former NIH official Kris Willis wrote for Macroscience. Kris is now the President and Founder of the Woodley Park Institute, for which I’m a board member. Picking winners or hedging bets? Federal science agencies have long wrestled with the question of how to ensure their billions of dollars of grants and contracts result in maximum benefits for Americans. On the surface, it might seem that a goal-oriented, interventionist style of management would be the best policy: prioritize our most pressing problems and distribute funding accordingly.This top-down strategy creates a unique hazard, though: bad choices can send resources in the wrong direction, resulting in slow progress that impedes the delivery of tangible benefits to citizens. Moreover, if decision makers pursue an applied advance when the underlying scientific principles remain poorly understood, they risk costly failures and a loss of support for the research enterprise at large. Examples include Nixon’s 1971 War on Cancer, undertaken on the premise that a cure could be achieved in less than a decade, the drive to build an operational commercial fusion plant by the mid-1990s, and the National Plan to Address Alzheimer’s Disease, which failed to produce the effective treatments and prevention strategies promised by 2025. The contrasting laissez-faire approach is to hedge your bets. If the path to an advance is impossible to predict, then the wisest choice might be to distribute funding to as widely as possible. The main risk of this strategy is that spreading funding thinly may limit the resources available to the most promising research, resulting in the same negative outcomes as the interventionist approach: limited support for the most promising topics, slow progress, and delayed returns. In reality, at science agencies like the National Science Foundation and National Institutes of Health, program managers navigate between these two extremes, setting some funds aside to target high-priority areas and using the rest to cover the widest possible range of meritorious proposals. This middle path seems like the most rational way to proceed, but it still requires making choices. How much should be set aside for high priority topics? What should those topics be? How should we define merit? Expert opinion can provide a helpful guide, but leading experts can have remarkably different opinions about what matters and what should be prioritized. Moreover, experts and administrators alike can be risk averse, giving an edge to high-profile, well-established concepts. What’s really needed is a data-driven framework to help guide decision-making, one that doesn’t simply repackage prestige or incumbency. Recognizing breakthroughs years in advance Many breakthroughs fail to attract funding or recognition at the earliest stages of development. Katalin Karikó, for example, spent years struggling to win grants for work on mRNA that would eventually win her and Drew Weissman a Nobel Prize. Similar stories can be told about Jim Allison’s groundbreaking studies leading to the development of cancer immunotherapy, Stan Pruisner’s demonstration that prions can self-replicate without DNA, or Robin Warren and Barry Marshall’s proof that Helicobacter pylori, not stress, causes ulcers. Yet at some point, the scientific community recognizes and responds to transformative breakthroughs like these. How does that change happen? And what if science funders could identify the areas that are on the cusp of a breakthrough? Those questions led my collaborators and me to study how scientists responded to past breakthroughs. Based on patterns in that data, we developed a means of predicting future breakthroughs, using biomedicine as a proof of concept. It’s worth taking a moment to describe how our approach works. Briefly, our prediction process begins by grouping the 18 million or so peer-reviewed papers in PubMed, the authoritative database of biomedical research, into roughly 50,000 unique topics. A small subset of these topics are so widely acclaimed as breakthroughs that they have been recognized with a major prize like a Nobel or a Lasker Award. We theorized that studying the development of these outliers over time, especially before they gained acclaim, was the key to identifying future instances of them. After defining topics, we chose 21 representative breakthroughs and asked what they looked like before they won prestigious prizes. To answer that question, we re-ran our topic-mapping algorithm repeatedly, winding back the clock one year each time, stringing together the years to follow the progress of each field as it grew and advanced. We found that in each case, the years leading up to a discovery followed a pattern: a burst of papers on a new, rapidly evolving topic, many of which quickly became influential. These characteristics—the percent of papers that are new, the percentage of papers that are brought in from other topics, and the influence of each individual paper—can all be measured separately for any given topic. Together, they act as a predictive signal that is detectable an average of five years before a transformative discovery is made, and up to thirty years before the discovery receives a major prize. Scanning the current research landscape for topics that display this signal allows us to predict what work will likely produce a future breakthrough. Each year we analyzed includes four or five signals, a number that appears to have remained constant across a twenty year time frame. In their classic work on the sociology of science, Bruno Latour and Steve Woolgar established that the desire to participate in a major discovery is an important motivator for scientists as they consider whether they should take up (or abandon) a research problem. Although further work is needed, the simplest explanation for our results is that this behavior is widespread enough to detect at scale. A foundational advance, or something like it, draws the attention of scientists and causes them to change the direction of their research. They vote with their feet, staking their own reputation and careers by publishing on and citing the new idea. That upswell of interest is the foundation of our breakthrough signal. What kind of research does our model identify as a breakthrough? After building a model based on the patterns in our 21 preselected breakthroughs, we tested it by identifying all early signals of discovery from 1994 through 1997. Of the 18 signals we found in that time period, 17 can be traced forward in time to a breakthrough. Examples include super-resolution fluorescence microscopy (see the image above), the directed evolution of proteins and enzymes (Chemistry Nobel, 2018), and sequencing the human genome (National Medal of Science, 2008). The discovery of the role of leptin signaling in obesity is a particularly interesting case study. Around 1950, scientists noticed the existence of a type of lab mouse that suffered from a unique inherited form of obesity. When given the freedom to choose their own diet, these mice ate more than normal and preferred food that was high in fat. Researchers had few clues as to why the animals overate; early experiments pointed to the existence of a soluble ob factor found circulating in the bloodstream that regulated appetite, but its identity was unknown. In 1994, Jeffrey Friedman and colleagues identified and sequenced the ob gene, noting that the protein it encoded appeared to fit the profile of a circulating factor. A year later, a trio of high-profile publications demonstrated that ob was a hormone that regulated body weight and fat deposition by regulating appetite. One of these was co-authored by Friedman, who christened it leptin from the ancient Greek word for thin. Using our model, the data from 1996 make it clear this advance would become a breakthrough. Scientists had flocked to study the biology of the new hormone, generating the flurry of new papers and citations required to produce a signal. One of these demonstrated that serum leptin concentrations reflected the amount of adipose tissue in the human body, providing clinical validation of the earlier mouse studies. Before the identification of leptin, scientists were unable to point to a specific molecule that controlled appetite and adiposity, so that it was impossible to rule out non-physiological causes of obesity; its characterization fundamentally changed our concept of weight gain. In 2010, Friedman and fellow pioneer Douglas Coleman were awarded a Lasker for the discovery. Our work also identifies breakthroughs in clinical practice and behavioral and social sciences, even though these areas are less likely to draw the attention of major prize committees. One example that falls into this category is the introduction of endovascular aneurysm repair, a minimally invasive surgical procedure for the treatment of abdominal aortic aneurysm, a leading cause of death among Americans over the age of 65. Relative to the previous standard of care, it reduces in-hospital mortality by almost four-fold. In 2017, Timothy Chuter received the American College of Surgeons’ prestigious Jacobsen Innovation award for his multiple refinements to the technique. Another under-recognized breakthrough identified by our model is the development of standardized survey instruments to assess the quality of life for HIV+ patients. The antiretroviral cocktails introduced in the mid-1990s reduced AIDS mortality, but treatment came with serious side effects. The new evaluations showed that patients whose disease progressed had worse physical functioning than Americans with other chronic diseases, while those who were asymptomatic maintained a health-related quality of life on par with the overall US population. This evidence made it possible for patients and activists to argue that even in the absence of a total cure, and in spite of the side effects, alleviation of symptoms was a worthwhile priority for clinicians. My colleagues and I have failed to identify any significant recognition for the physicians and health policy experts who pioneered this advance, although in 2016, researchers called for the World Health Organization to set targets for good health-related quality of life as part of its framework to end the AIDS pandemic. From forecasting to funding How should science funders use our predictions? Any serious discussion of what we should do with this new capability needs to begin with an understanding of its limitations. We can’t (and shouldn’t) invest all of our resources in the small number of topics predicted to produce breakthroughs. Innovative new fields are born from existing ones; they rarely arise de novo. If funders don’t maintain a diverse portfolio, the breakthroughs of tomorrow will have no antecedents. Think of this as eating the seed corn, or killing the goose that lays the golden egg. There are also multiple goals of funding beyond basic scientific discovery, including translating discoveries into clinical practice, developing new technologies, supporting economic development, and training new scientists. The investments needed to accomplish these goals are likely different from those required to support emerging breakthroughs. Finally, we must be aware that we may not capture every instance of a breakthrough. The concept is fuzzy, and not every significant discovery is recognized with a major award. Further, breakthroughs are rare, meaning that our dataset is, by necessity, small. This makes formal estimates of accuracy challenging. Although our overall success rate appears to be high, any one signal may turn out to be a false positive. We found one apparent example: the development of the third generation COX-2 inhibitors, Vioxx and Celebrex, which were much celebrated in the early 2000s as effective but non-addictive pain relievers, meets all the algorithmic criteria of a breakthrough. Five years after it received FDA approval, researchers demonstrated that Vioxx was associated with serious cardiovascular complications, and the manufacturer voluntarily pulled the drug from the market. Celebrex remains available, although like other NSAIDs, it carries an FDA warning for increased cardiovascular risk. Decision makers who were overly focused on the breakthrough potential of this research might have wasted substantial resources nurturing an area that ultimately proved to be a failure—but so would those who relied on expert opinion at the time. That said, the potential benefits of funding the next mRNA vaccine or cancer immunotherapy years earlier than we might have are large. When we can’t assume the outcome of an action, it’s worth conducting an experiment. Can targeted support for areas that are poised to produce a breakthrough increase the return on scientific investment without cannibalizing future advances? With the necessary administrative infrastructure in place, conducting this experiment would be straightforward. First, identify all the breakthrough signals between 2018 and 2023, select half at random, and commit to a decade of investment. For biomedicine, a six year window should yield about 30 topics with the potential to produce a breakthrough. Providing strong support to half of these might be accomplished for $300 million a year. That’s roughly half of the recent annual budget of the NIH Common Fund or around 20% of the fiscal year 2025 budget for ARPA-H. After five years, then again at ten, compare to see which group — the one that was actively managed, or the control — produced more breakthroughs, and on what timescale. Although we used biomedicine as an example, the same experiment could just as well be run for physics, materials science, or any other discipline. Any attempt to undertake such an experiment should keep three points top of mind. First, we can predict the topic of future breakthroughs, but the people and vision for how to move the work forward are still important. In practice, this means success requires active program managers with the expertise to develop the science and the authority to do so, including by recruiting investigators. Second, we would be wise to learn from the failures of past attempts to fund transformative research. High among these are funding modestly repackaged work, confusing the genuinely novel with the merely unfamiliar, and relying too much on incumbent investigators. All of these risks can be mitigated by thoroughly and intelligently integrating high quality data into portfolio management. Finally, we need to have patience. Even with strong funding support, producing a breakthrough takes time. If supporting breakthroughs is the best way to nurture the birth of new fields, we also need to accurately describe and properly manage the other two stages, so that we invest wisely throughout the productive lifetime of ideas and divest once they reach the point of diminishing returns. We would benefit from more study of all of these phases, especially the transition from one to another. More research could answer questions like: When does a breakthrough become an established field? How do the availability of funding, the size and characteristics of the available workforce, and the accumulation of evidence that disagrees with prevailing models affect a field’s decline? Exactly how do old ideas give birth to new ones, and can we speed up the process? The more we understand about the dynamics of scientific progress, the better we can maximize the odds that our curiosity leads to results. I’d call that finding a way to make our own luck.
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