Winging it

Markets: Canada's main stock index secured a record closing high yesterday as U.S. Federal Reserve drama caused a spike in gold prices, sending investors looking for safe assets. Meanwhile, Alphabet became the fourth public company to eclipse a US$4 billion valuation.

Getting compensated for your delayed flight from two years ago isn’t getting any easier. 

Driving the news: A CBC News investigation found that Transport Canada repeatedly delayed the implementation of a policy that would force airlines to help cover the costs of Canada’s air passenger complaint system. 

Why it matters: With grievances over delays, cancellations, and lost luggage piling up, Canada’s air travel complaint system is facing a backlog of over 88,000 claims. New complaints can now take over two years to resolve, up from about 18 months in 2023. 

Yes, but: Airlines argue that the high fees they already fork over to airports, and the government, are what make air travel so expensive in Canada, and any extra fees they’re forced to pay would likely just be passed right back to flyers.—LA

The Major Projects Office has given its first green light. The recently formed federal agency has officially approved the Port of Montreal expansion, a project that will reportedly boost the port’s capacity by 60%. Meanwhile, Prime Minister Mark Carney will travel to B.C. today to meet with First Nations groups and discuss major natural resources projects earmarked for the region. (The Logic)

Paramount is picking a proxy fight for control of Warner Bros. The company is planning to nominate a slate of new board members at Warner Bros. Discovery in the coming weeks as part of a hostile bid to take over its Hollywood rival. Paramount also filed a lawsuit to try and force Warner Bros. to disclose the details of its Netflix deal, arguing that it hasn’t proved to shareholders that the streamer’s offer is better than Paramount's. You’ve got to give them points for persistence. (Axios)

Meta is cutting a big chunk of its Metaverse team. The company is reportedly planning to lay off 10% to 15% of the employees in its Reality Labs division, the team responsible for projects like the AR headsets and smart glasses. The metaverse concept has largely failed to take off and the division has lost Meta around US$70 billion since 2020. (Reuters)

Canadian rental prices fell every single month last year. It’s not a bad time to be looking for a rental. According to a new report, the average asking rent price hit $2,060 in December — the lowest level in 30 months. It was the 15th consecutive month that prices fell. (The Canadian Press)

Malaysia and Indonesia are blocking Grok. They are the first two countries to restrict access to the AI chatbot, which has come under fire for allowing users to generate sexually explicit deepfakes. (Associated Press)—LA

What they’re saying: “Tom built his career on discipline, performance, and longevity. Exactly what this moment in GLP-1 care demands,” said eMed CEO Linda Yaccarino (yes, that Linda Yaccarino) when announcing Tom Brady as the company’s new Chief Wellness Officer. The NFL’s GOAT will promote the telehealth startup — which is one of a growing crop of companies focused on delivering GLP-1 weight-loss drugs — and serve on its board.

Why it matters: It’s unusual for pharma advertising to feature endorsements from pro athletes, but the GLP-1 boom is shaking things up. Last year, both Shaquille O’Neal and Serena Williams became spokespeople for telehealth company Ro, singing the praises of GLP-1 drugs. With Touchdown Tom on board at eMed, it feels safe to call this a trend.

Recent Grok-y headlines have been upsetting, so here’s some good AI news. 

What happened: AI biotech startup Basecamp Research unveiled what it claims to be the first AI models capable of programmable gene insertion, trained in collaboration with Nvidia. The models, powered by a platform called Eden, could dramatically advance gene therapy.

How it works: Current DNA insertion techniques to treat diseases can only make small edits and do damage to DNA sequences. Eden, trained on the world's largest biological database, can make more precise edits, promising more predictable and personalized treatments.  

Why it matters: We’ve heard a lot of fanfare about AI’s vast potential for curing diseases, but Basecamp’s Eden models are an actual concrete example of a treatment so precise that it could only be achieved through AI.

Yes, but: As with any medical breakthrough, this has to be taken with a grain of salt. Especially since it involves genetic engineering — a field that’s been criticized for putting the cart before the horse, with a hyperfocus on making new tools rather than actual medicine.

Our take: As the AI industry embarks on its year of practicality (and tries to shake off bad press), we expect to see more medical tie-ups. Just look at Nvidia, which also announced a joint US$1 billion investment in a drug discovery lab with Eli Lilly yesterday.—QH

The Peak and Alan are recognizing these contributions through Canada's Workplace Health Leaders list. The focus is on professionals who have strengthened workplace health in practical and lasting ways.

Know someone leading the charge? Nominations are open. Submit your nomination today.

 🏙️ ~$30 billion. Investments that Canadians have made in private real estate funds that they can no longer access. After the housing market took a downward turn, many of these funds have refused investors' requests to pull out their money — a tactic known as gating. In total, nearly 40% of the cash invested in these funds is now locked up and un-withdrawable.

Another day, another dose of the mini-crossword and the daily sudoku. 

And for our game-testing readers, the bonus mini! A friendly reminder to report any bugs, errors, or other snafus.