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Did the Pandemic bring the next Tech Bubble?

Mounir Jamil

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tech bubble

As the winds of the tech world keep on turning, updates brought forward by the pandemic and changes in the playing field can be clearly seen.

This comes at a time when some experts speculate that we are on the verge of another tech bubble almost similar to the real estate bubble witnessed by Dubai and many other countries many years ago.

While these times may prove to be intriguing to any tech enthusiast, they are certainly dangerous and troublesome for those navigating it.

After a small whiff of being the world’s richest man Tesla founder and billionaire Elon Musk fell back to second richest person in the world after Tesla’s stocks fell by nearly 8 percent this week. Earlier this year, a spur of the moment type tweet caused him to lose $14 billion in Tesla market value in hours.

This tweet alone caused the $14 billion plummet in Tesla’s market value, alongside $3 billion to be knocked off in Musk’s own stake,  not to mention the price he had to pay: Removing him for head of Tesla board.

The tech world will literally chew you and spit you back out, and as the industry witnesses constant change, adding a pandemic only makes it harder to navigate. Several thoughts and ideas have begun to spring up on the internet, speculating the dawn on a new tech bubble, one like that of 2001.

With Musk’s anecdote in mind, one can’t but help think about the other tech and communication companies that are regarded as winners in a post-COVID world as stock pricing soars and other parts of the industry falter.

Investors have bundled together a handful of names, most notably the dubbed FAANGM stocks (Facebook, Apple, Amazon, Netflix, Google, and Microsoft).

These businesses have managed to sail against the currents,  defying odds as they performed comparatively well during the onslaught of the pandemic.

It is important to note, however, that these big tech companies, were already well armed with the means necessary to accommodate for major shifts brought forward by the pandemic namely the shift to remote work, increased need for personalized in-home entertainment, and definitely the increased e-commerce needs.

Needless to say, these big tech companies are well established, with solid cash flows and stable balance sheets, the underlying point is that the strength of recent performance is creating a momentum that is driving more investors to speculate and pay less attention to price, the result – valuations have shot up.

The parallels of a current tech bubble with that of the 1990s are one too many. Internet stocks are the big craze. Investments are paving way for speculation as Wall Street dishes out IPOS for dot-com stocks that promise earnings or a transformative information economy.

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Junior social media strategist with a degree in business. Passionate about technology, film, music and video games.

MedTech

Wearable tech start-up aims to tackle head injuries in sport

Karim Hussami

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Wearable tech start-up

An Edinburgh-based business recently launched a Kickstarter campaign to help move into production of a technology to safeguard athletes against head injuries.

Based at the Edinburgh Business School (EBS) Incubator within Heriot-Watt University, the technology has been developed by start-up company HIT. The concept is wearable tech which measures and tracks head impact force in sport and recreational activities and is set to aid research and support informed decisions on the risk of brain injury.

Founder Euan Bowen, an avid rugby player, was inspired to develop the technology a teammate was injured. With brain injuries rarely reported, Bowen spotted a gap in the market for sportspeople to track brain health.

Bowen explained: “I found little technology available to monitor head impact, despite the severity of the issue across different sports.

“As a member of a rugby club in Edinburgh, I began researching and developing a project, working closely with the team to develop an initial prototype.”

Featuring a unique impact sensor, wearable across multiple sporting and activity applications, the device universally clips onto any helmet or halo headband, detecting g-force and recording impact via a companion app.

Using a traffic light system, the app records data and acts as an early warning notification for the user regarding the level of impact force recorded – highlighting the caution required in continued exercise.

“High impact sports are focusing increasingly on concussion mitigation with the Field – ‘Football’s Influence on Lifelong Health and Dementia Risk’ – study recently finding that former professionals are three and a half times more likely to die of dementia than the general population,” Bowen noted.

Kallum Russell, manager of the EBS Incubator said: “HIT Impact is a much-needed technology to track and support the current efforts to increase sports safety at a time when governing bodies across high impact sports are increasingly focused on minimizing head trauma.”

The current parliamentary inquiry into concussion recently heard evidence about the long-term implications of repetitive head trauma on sports people with MPs asking how sports could be made safer.

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MedTech

Official: EU agency to confirm AstraZeneca blood clot link

Associated Press

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AstraZeneca blood clot

A top official at the European Medicines Agency says there’s a causal link between AstraZeneca’s coronavirus vaccine and rare blood clots, but that it’s unclear what the connection is and that the benefits of taking the shot still outweigh the risks of getting COVID-19.

Marco Cavaleri, head of health threats and vaccine strategy at the Amsterdam-based agency, told Rome’s Il Messaggero newspaper on Tuesday that the European Union’s medicines regulator is preparing to make a more definitive statement on the topic this week.

Asked about Cavaleri’s comments, the EMA press office said its evaluation “has not yet reached a conclusion and the review is currently ongoing.” It said it planned a press conference as soon as the review is finalized, possibly Wednesday or Thursday.

Based on the evidence so far, Cavaleri said there’s a clear association between the AstraZeneca vaccine and the dozens of rare blood clots that have been reported worldwide amid the tens of millions of AstraZeneca shots that have been given out.

“It is becoming more and more difficult to affirm that there isn’t a cause-and-effect relationship between AstraZeneca vaccines and the very rare cases of blood clots associated with a low level of platelets,” Cavaleri was quoted as saying.

AstraZeneca did not immediately respond to a request for comment. Late in the day, however, the pharmaceutical company and Oxford University, which developed the vaccine, announced they were pausing the trial of their jabs in children while British regulators investigate the potential blood clot link in adults.

“Whilst there are no safety concerns in the pediatric clinical trial, we await additional information” from the British regulator, an Oxford spokesperson said in a statement.

In Geneva, the World Health Organization said its experts were also evaluating a possible link between the AstraZeneca vaccine and rare blood clots — and that it might have a “fresh, conclusive assessment” before Thursday.

In March, more than a dozen countries, including Germany, suspended using AstraZeneca over the blood clot issue. Most EU nations restarted on March 19 — some with age restrictions — after the EMA said the benefits of the vaccine outweighed the risks of not inoculating people against COVID-19. At the time, the EMA recommended the vaccine’s leaflet be updated with information about the rare clots.

Any further doubts about the AstraZeneca vaccine would be a setback for the shot, which is critical to Europe’s immunization campaign and a linchpin in the global strategy to get vaccines to poorer countries. The AstraZeneca vaccine is cheaper and easier to use than rival vaccines from Pfizer and Moderna and has been endorsed for use in over 50 countries, including by the 27-nation EU and the World Health Organization. U.S. authorities are still evaluating the vaccine.

Cavaleri said while EMA was prepared to declare a link, further study was still needed to understand why and how the phenomenon occurs.

He said the rare blood clots, including some in the brain, coupled with a low level of blood platelets that may make people at risk of serious bleeding, “seem to be the key event to study further.” Cavaleri promised more details soon, adding: “In the coming hours, we will say that the link is there, how this happens we still haven’t figured out.”

Cavaleri said the biological mechanism for how the vaccine might be causing the rare clots was still unknown and if it was linked to how the shot is made, other vaccines with similar technologies might also need to be evaluated.

He stressed the risk-benefit analysis remained positive for the AstraZeneca jab, even for young women who appear to be more affected by the clots.

“Let’s not forget that young women also end up in intensive care with COVID. So we need to do very meticulous work to understand if the risk-benefit analysis remains for all ages,” he was quoted as saying.

He ruled out a preventive therapy to address the rare blood clots, saying there is still too much unknown about the phenomenon.

Even after the March 19 restart, the Dutch and German governments suspended the jabs for people under 60 and some Europeans have been shying away from getting a shot.

Romania’s national vaccination committee’s chief, Valeriu Gheorghita, said Tuesday that since March, 207,000 people in Romania had canceled their AstraZeneca vaccine appointments and another 92,000 simply didn’t show up.

“It is a high percentage, a third of people scheduled who did not show up,” Gheorghita told reporters.

British Prime Minister Boris Johnson declined to be drawn directly into the latest warnings about the vaccine but urged people to look at the advice from Britain’s independent Medicines and Healthcare Regulatory Agency.

“Their advice to people is to keep going out there, get your jab, get your second jab,” he said during a visit Tuesday to an AstraZeneca facility in Macclesfield, in northwest England.

Last week, Britain’s MHRA said seven people had died in the U.K. due to blood clots after getting the AstraZeneca jab. It said it wasn’t clear if the shots are causing the clot and that it was undertaking a “rigorous review” into the reports. The agency said it had identified 30 blood clot cases out of 18.1 million AstraZeneca jabs given by March 24.

Adam Finn, a professor of pediatrics at the University of Bristol, said the latest surge of COVID-19 cases that is filling up hospitals across Europe should prompt people to get vaccinated as soon as possible.

“If you are currently being offered a dose of Oxford-AstraZeneca vaccine, your chances of remaining alive and well will go up if you take the vaccine and will go down if you don’t,” he said.


ROME (AP) — By NICOLE WINFIELD and PAN PYLAS

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MedTech

AUB starts U.S.-based company for research on cardiovascular disease

Inside Telecom Staff

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cardiovascular disease

In a MedTech first for the Mediterranean country of Lebanon, a team from the American University of Beirut (AUB) has established a biotech corporation in the U.S. devoted research on biomarkers for cardiovascular disease.

The school told Inside Telecom that team physicians and scientists from AUB have founded the first US-based biotech S-Corporation, Teucer Biotech Inc., centered on an AUB-generated original invention.

Teucer Biotech Inc. is founded around U.S. Patent 10,801,066 issued for the “Determination of risk for development of cardiovascular disease by measuring urinary levels of podocin and nephrin messenger RNA,” with patent positions also issued in Canada, Europe, and Australia.

“We believe we have uncovered a novel clinical biomarker which predicts the development of adverse cardiovascular outcomes (hypertension, acute coronary syndrome, stroke, dementia, peripheral vascular disease, and others) much earlier and with substantially greater prediction power than the earlier currently employed risk predictor, namely “moderate albuminuria (increase albumin in urine),” said Dr. Kamal Badr, AUB professor of internal medicine.

An S-Corporation is akin to a limited liability company or partnership. In general, the corporation itself does not pay any income tax but rather any gain or losses are divided among the partners or shareholders who are then responsible for payment as an individual income tax.

Along with AUB, the company is owned by co-founders Kamal Badr; Assaad Eid, associate professor of anatomy and molecular medicine; Robert Habib, former AUB faculty member and current director of the Society of Thoracic Surgeons Research Center, Chicago, IL, USA; and Joao Lima, professor of cardiology, radiology, and epidemiology, Johns Hopkins University.

Additionally, Dr. Yousif Asfour, chief innovation and transformation officer, represents AUB on Teucer’s Board of Directors, which is chaired by Professor Badr.

“We contend that our findings, once validated across large populations and disease states, will significantly reduce the global burden of cardiovascular disease, the leading cause of death in the world, by providing a more robust and reliable indicator for pre-clinical systemic vascular injury many years prior to overt cardiovascular events, thereby triggering much earlier behavioral and pharmacological interventions,” added Dr. Badr.

On March 31, 2021, Drs. Kamal Badr, Assaad Eid, and Yousif Asfour presented AUB President Fadlo Khuri with the stock certificate representing AUB’s part ownership of Teucer Biotech Inc.

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