This week’s stories cover Elon Musk’s Neuralink advancements, Netflix’s subscriber bases taking a hit, and the UK’s new PM Boris Johnson. (1:30 min read).
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1. Hacking the brain with Elon Musk
Elon Musk revealed initial details of an electronic brain implant developed by Neuralink; a company he founded several years ago.
As if revolutionising the space and car industry wasn’t enough, Musk wants to implant chips in the human brain. Initially, the purpose will be to help brain damaged patients, with potentially wider applications as the technology advances.
Judging by Musk’s track record, this may not be as impossible as it sounds. We’ll be following developments over the next few years, as this could present a future investment trend if he is successful.
2. Less people binging Netflix
Netflix reported a decline in the number of US subscribers for the first time since 2011.
This was not welcomed news by markets, which had expected the company’s US subscriber base to continue growing.
The number of non-US subscribers also increased below expectations. Questions are now being asked by some market analysts whether the subscription cost rising caused the lower-than-expected numbers.
Unsurprisingly, its stock price has declined by over 10% since the announcement.
None of AtlasTrend’s managed funds are currently invested in Netflix (at the time of writing).
3. Boris Johnson to lead the UK (and Brexit)
The UK Conservative Party has chosen controversial figure Boris Johnson to lead them as Prime Minister. One of his key to-dos will be to complete the Brexit process.
He has promised Brexit will occur on October 31 – whether or not there is an orderly exit deal agreed with the European Union (EU).
A disorderly exit could have serious consequences for many companies given the uncertainty it creates.
Although many believe a disorderly exit is unlikely to occur, we are keeping a close eye out on events since there may be short to medium-term ramifications for the UK and stock markets.
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