Smaller Doses

Hi, today we explore: (1) Where the world's at with fossil fuel, (2) Pfizer finances don't look so healthy, (3) Sports Illustrated's questionable AI. TOGETHER WITH Today's Topics Hello! The Prince and the Papers: Prince Harry won his [phone-hacking]( case against Mirror Group Newspapers today, with London’s High Court awarding him ~$180k in royalties. Today we're exploring: - Fossil fuels: The world is "transitioning away" from the energy source. - Smaller doses: Pfizer's finances aren't what they were. - Cyber-colleagues: Where AI might fit in the American workplace. Have feedback for us? Just hit reply — we'd love to hear from you! [Read this on the web instead]( Fossilized After a few newsworthy [bumps]( in the [road]( the COP28 climate conference came to a somewhat happy ending — depending on [who you ask]( — as almost 200 countries made a landmark pledge to "transition away" from fossil fuels for the first time in history. Representatives agreed to the deal in the final hours of the annual UN summit and were met with a standing ovation, though activists took issue with the way the language around fossil fuels, which account for almost 90% of the world’s CO₂ [emissions]( had been dialed down in the new agreement. The beginning of the end With a slew of extreme weather [events]( ever-warming [waters]( and 2023 officially being declared as the hottest year on record [this month]( the intervention couldn't have come soon enough. Indeed, UN Climate Change Executive Secretary Simon Stiell expressed regret at not having “turned the page on the fossil fuel era” — but did hail the outcome as “[the beginning of the end](. While renewable energy generation has been ticking up in recent years, even surpassing coal for the first time [in 2022]( the amount of fossil fuel-generated energy that we’ve been using globally has hit new heights. According to the [Energy Institute]( consumption of fossil fuel energy reached a record 137,000 terawatt-hours in 2022, with 39% of that coming from oil alone. Long shot It seems like just yesterday that pharmaceutical company Pfizer, which pioneered one of the first vaccines for the COVID-19 virus, was being lauded as an American hero of the pandemic. However, in the years since, the company has been plagued by [declining sales]( as demand for Covid vaccines continues to diminish. In a sign of the times, revenues only amounted to around $13bn in its last quarter — some 54% less than the $28bn peak seen in Q2 ‘22. Pfizer shares sunk 7% [on Wednesday]( following news that it expects to make just $8bn from Covid shots in 2024, down from $57bn just 2 years prior. The company’s market cap. is now less than half of what it was, dropping to $147bn as of yesterday: a 10-year low for the pharma giant. Business booster The drugmaker’s worsening sales outlook has triggered a $4bn cost-cutting effort at the company, up $500k from the previous cutbacks announced earlier this year, including laying off more than 2,000 workers [worldwide](. In an effort to combat the Covid product downturn, Pfizer has looked to new treatment avenues to bolster sales; yesterday, it confirmed a $43bn acquisition of oncology drugmaker [Seagen Inc.]( which has 4 FDA-approved cancer drugs under its belt to date. Even so, Pfizer’s [botched attempts]( to develop an obesity pill have left it lagging behind peers like Novo Nordisk and Eli Lilly that have capitalized on the booming weight loss drug market, expected to be worth $100bn by the end of the decade. [Sponsored by hear.com]( Ring it in with better hearing If you’re one of 48M Americans who struggles with their hearing, catching up with friends and family amid the festive jingle isn’t always easy. Many muddle through and hope it improves — but there’s a better alternative you can trial in time for the New Year. It’s called [Horizon]( developed by [hear.com]( with top German engineers from Signia (formerly Siemens). Horizon is one of the [first dual-processing hearing aids]( delivering ultra HD sound and unparalleled speech clarity. Horizon is virtually invisible with a comfortable, secure fit that disappears behind the ear. No need to constantly switch them out for your AirPods — [Horizon]( bluetooth connectivity plugs into any audio you need to get moving in the New Year. [hear.com]( accepts all major insurance plans, and offers a 45-day trial. Secure it today to get set up with [Horizon]( by February 2024 — and hear better all year. [Secure your no-risk, 45-day Horizon trial]( Bots illustrated After some of its content was revealed to be AI-produced and accredited to non-existent authors, the CEO of Sports Illustrated was fired by the magazine’s publisher, The Area Group, earlier [this week](. Writer profiles on the 70-year-old periodical's site were found to include headshots from an AI-generated picture marketplace, and [certain articles]( featured sweeping, bot-like statements, such as “your financial status translates to your value in society.” Cog in the machine Although the dawn of AI has spurred fears about the influence it could have on several sectors — particularly tech, journalism, and creative industries, in part fueling this year’s [writers’ strike]( — many workers still hold an it-won't-happen-to-me attitude towards the ‘robot revolution’. Indeed, [one poll]( found that, while 52% of Americans think ChatGPT will have a major impact on journalists’ jobs over the next 20 years, just 19% said the same for their own vocations, with a perhaps-naive 27% anticipating no impact on their work whatsoever. Even with the threat of work-replacing, AI’s infinite use for work-enhancing might just be too tempting for many journos. Indeed, a recent [LSE survey]( of newsroom workers found that 85% had experimented with the tech to help with tasks, while nearly three-quarters agreed that artificial intelligence presents new opportunities for the sector — a view shared by [the NYT]( which just hired its first editorial director of AI initiatives. More Data • Giving season: 15% of Americans will be more generous with their [tipping]( over the holidays than last year… while a more Scrooge-like 13% plan on tipping less. • TikTok has become the first non-game mobile app to reach over $10bn in [consumer spending]( across the App Store and Google Play, just shy of top earner Candy Crush Saga’s $12bn. • 48M Americans hear so poorly that their quality of life suffers — but many wait to act. Horizon hearing aids from [hear.com]( have been the game-changer for nearly 400,000 people, delivering unrivaled speech clarity with cutting-edge German technology. [Trial Horizon no-risk]( for 45 days.** • It should cost (almost) a billion to look this good... [Beyoncé’s]( net worth now stands at $800 million following the flawless success of her 2023 Renaissance World Tour. **This is sponsored content. Tired of one-sided political news? 80,000+ people read [Tangle]( instead (including senior editors at TIME magazine and The Athletic). It's an independent, non-partisan politics newsletter that summarizes the best arguments from the right, left, and center on one big debate in American politics, every day — and it’s [100% free to subscribe]( Hi-Viz • Deep dive into how [Netflix's pivot]( to non-fiction has driven its $200bn business. • Find Google's most-searched people, places, and moments in its [Where's Waldo-style game.]( Off the charts: Which online marketplace giant is laying off 11% of [its staff]( as the company continues to try and craft out its place in the increasingly crowded world of e-commerce? [Answer below]. [Answer here](. Thanks for reading. See you on Sunday for our deep dive! Have some [feedback](mailto:daily@chartr.co?subject=Feedback&body=Hi%2C%0A%0AI%20like%20the%20newsletters%2C%20but%20I%20had%20a%20thought%20for%20you...) or want to [sponsor]( this newsletter? Not a subscriber? Sign up for free below. [Subscribe]( Copyright © 2023 CHARTR LIMITED, All rights reserved. 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