🚀 Google hits quantum computing milestone

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Market Overview
Read time 1.4 minutes

Year To Date Performances:

1. Google has unveiled "Willow," its latest quantum computing chip, which promises a significant leap in error correction, a key hurdle in the field. The chip reportedly performed a task in under five minutes that would take a classical supercomputer 10 septillion years, showcasing quantum supremacy. However, with only 105 qubits and the need for near-absolute-zero cooling, Willow remains far from solving practical problems, requiring millions of qubits for real-world applications. While experts acknowledge its progress, they stress the need for quantum computing's "ChatGPT moment" to unlock its transformative potential.

2. Utah's video game industry has skyrocketed by over 230% in the past decade, generating $2.3 billion in revenue in 2023 and eyeing $4.5 billion within five years. A key driver is the University of Utah's top-ranked video game program, whose alumni have shaped iconic games like Hogwarts Legacy and Fortnite. Pioneering contributions in 3D graphics and local studio partnerships have further cemented Utah’s reputation as a gaming hub. With $25 million dedicated to program expansion and global student interest surging, the University continues to fuel the state’s gaming economy, producing industry-ready talent and fostering innovation.

3. Unrivaled, a new 3x3 women's basketball league debuting in Miami on January 17, has partnered with Under Armour as its official apparel and performance outfitter. Under Armour will provide on- and off-court gear, including footwear for players without existing shoe deals, and offer custom product opportunities. Positioned as an offseason alternative for WNBA stars, Unrivaled boasts high salaries with equity options, attracting 36 top players. This partnership reflects Under Armour's pivot toward leveraging the growing momentum of women's sports as it navigates a broader brand turnaround under founder Kevin Plank's renewed leadership.

4. Headlines

   1. ETFs are now the largest holders of Bitcoin, surpassing Satoshi.

   2. Incomes are shrinking in metropolitan areas where the average wage is already below the national average.

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Onwards and Upwards,

Liam Gill