Avocado toast for days. Millennials (born between 1981 and 1996) in the US gained $5T in wealth since the start of the pandemic. What gives? Primarily, home equity. Millennial homeownership increased from 36% in 2016 to over 51% in 2022 = increasing net worth as home prices surged. With millennials hitting their prime spending years, we look at the 12 industries that will thrive thanks to them.

Smooth and steady. After a steep decline last quarter from the record levels seen in Q4’21, insurtech funding remained flat at $2.4B in Q2’22. This is a notable posting, all things considered (stock market, inflation, yada, yada). While insurtech funding didn’t rebound, it also didn’t go the way of overall fintech and drop further in Q2’22. Download our State of Insurtech Q2’22 Report here.

Open up. While the number of US job openings fell by 5.3% in June from May, Americans are still quitting their jobs at elevated levels (2.8%). Combined with a historically low layoff rate (1%), the US labor market remains tight. Employers are adopting tech solutions from wellness to education platforms to recruit, train, and retain their hourly or deskless employees.

A huge leap for biology. Last year, Google-owned DeepMind open-sourced its protein structure prediction algorithm AlphaFold. Since then, the AlphaFold database has grown 200x to contain 200M+ protein structures. The database is being used to accelerate drug discovery, address plastic pollution, and more. Beyond DeepMind, Google has been making moves in the drug R&D space for years — and AI is one of its competitive advantages.

Generally just unintelligible. Thanks to Lisa Vigil for sending us this bad boy.
 

I love you.

P.S. Know a cybersecurity geek? The CBI Intelligence Unit is looking for a Senior Intelligence Analyst, Cybersecurity & Enterprise IT. 
 

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Put it in the cart. Meta, Amazon, and Google continue to expand into new sectors of retail tech.

This is the AI way. As commercial applications of AI scale rapidly, businesses are looking to become “AI-first.”

A $2T+ giant. Apple is investing aggressively in high-tech areas like AR/VR, AI, and semiconductors.