TOP STORY
🔎 Google Lawsuit Uncovers Microsoft’s Attempt to Sell Bing

This week we found out that in 2020 Microsoft tried to sell Bing to Apple, but talks never really progressed beyond the exploratory phase.

The news came out amid an antitrust trial with Google about the company’s search market dominance. At the center of the dispute are Google’s exclusive deals with phone makers and browsers to make Google the default search engine — stifling smaller rivals like DuckDuckGo.

A Microsoft executive revealed that Apple only viewed Microsoft as a "bargaining chip" to negotiate better deals with Google.

💍 Recapping the timeline of Apple and Google’s relationship:

• In 2002, Apple and Google made a deal to share the net earnings from Google searches on Apple devices.

• In 2009, Microsoft introduced a search engine called Bing.
  

• In 2014, Google paid Apple $1 billion to keep Google as the default search engine on iOS devices.
  

• In 2016, the companies added a "joint defense" clause, which required both companies to stand together in defense if either company faced government lawsuits.
  

• In 2020, Apple engaged in talks with Microsoft to buy Bing.
  

• In 2020, the government filed a lawsuit against Google, highlighting Google’s search engine dominance.
  

• In 2023, Google's payment to Apple could reach as high as $19 billion (according to Bernstein estimates).

👀 In other news, other lawsuits are happening in the tech world, as the U.S. government is suing e-commerce marketplaces Amazon and eBay.

FROM OUR FRIENDS @ HARVEST ETFS

💊 Healthcare - Scale and Defense that Canadians Often Miss

The US Healthcare sector is massive. The market capitalization of the 20 large-cap Healthcare companies in the Harvest Healthcare Leaders Income ETF (HHL:TSX) is multiple times larger than the entire TSX.

Many investors like the Healthcare sector because it combines consistent non-cyclical growth drivers with large-cap companies and consistent innovation. Healthcare is widely considered a ‘superior good’ meaning consumers are less likely to cut their healthcare expenses if a recession hits. Moreover, healthcare companies innovate constantly, delivering new drugs and patented medical technologies that can deliver value for shareholders.

Watch this video with Harvest ETFs Chief Investment Officer Paul MacDonald explaining the opportunities in weight loss drugs for investors.

Harvest ETFs offers two ETFs with Healthcare focuses:

Harvest Healthcare Leaders Income ETF (HHL:TSX)

• Global trends driving long-term growth in the healthcare sector

• Diversified exposure to 20 large capitalization global healthcare stocks

• Attractive monthly income with opportunity for capital appreciation

• Covered call strategy to enhance portfolio income potential and lower portfolio volatility

• Available in multiple currency classes: Hedged, Unhedged, US dollar

Harvest Healthcare Leaders Enhanced Income ETF
(HHLE:TSX)

• Provides enhanced exposure to the Harvest Healthcare Leaders Income ETF (HHL)

• Employes modest leverage at around 25% to achieve enhanced monthly cashflow and growth prospects

For the latest updates on the Healthcare sector, sign up for Harvest ETFs' monthly newsletter.

ARTIFICIAL INTELLIGENCE
📱 OpenAI and Ex-Apple Designer Plan to Launch the “iPhone of AI”

OpenAI's Sam Altman, former Apple designer Jony Ive, and SoftBank's Masayoshi Son are in talks to launch a $1 billion venture aimed at creating a consumer device dubbed "the iPhone of artificial intelligence."

While plans are in the early stages, the goal is to develop a more intuitive user experience for interacting with AI. They expect to make an official announcement in a few months but anticipate the device's launch to be years away.

OpenAI is also in discussions with investors regarding a potential share sale that could value the company between $80-$90 billion. The sale would enable OpenAI to secure additional funding, which would be pivotal in advancing its AI projects, like their product announcements this week:

• Spotify and OpenAI partner on AI voice translation for podcasts.

• OpenAI’s “ChatGPT” can now access the internet and is no longer limited to information before September 2021.

• OpenAI’s “ChatGPT” can now see, hear, and talk to you — you can upload images and send voice messages.

A HELPFUL REMINDER
🦹 Watch out for Quantum AI Scammers!

It’s probably no surprise that I check Blossom’s ranking on the App Store every day, and in my daily peruse, I often scroll through to see if there are any cool new apps in the rankings.

Well to my surprise the app ‘Quantum AI’ kept coming up. Not once, but multiple times in the top 200 Finance apps. Different versions of the app currently sit at rank #27, #34, #91, and #193.

I downloaded this app to check it out and discovered it is an obvious scam that promises 3600% yearly returns and attempts to get unsuspecting beginners on a ‘1-1 call’.

Watch me call out the scammer on my 1-1 call and stay safe out there!

VIRTUAL REALITY
🕶️ Meta Announces New Ray-Ban Glasses, AI Chatbots, and More

On Wednesday, Meta unveiled a slew of AI products at the company's biggest annual event, Meta Connect. Meta CEO, Mark Zuckerberg, announced the release of the latest Quest 3 headset, Ray-Ban smart glasses, and a conversational assistant, Meta AI.

• Meta AI will be available on WhatsApp, Messenger, Instagram, the Meta Quest 3, and the Ray-Ban smart glasses when they are released.
  
  Meta AI can provide real-time information and generate photorealistic images from text prompts within seconds.
  

• Meta also announced the next generation of Ray-Ban smart glasses, which will be priced at $299 USD and set to ship on October 17.
  
  These glasses are designed to integrate Meta's new AI assistant and feature the ability to live-stream a user's perspective directly to platforms like Facebook and Instagram.

Meta also ventured deeper into the AI space with the release of their large language AI model, “LLaMA 2” — an open-source model for research and commercial use.

This move followed the launch of OpenAI's “ChatGPT”, as Meta fights to catch up with competitors by offering LLaMA 2 for free. The AI community celebrated this open-source approach.

 FROM THE BLOSSOM COMMUNITY

🎙 Top Discussions This Week

🗞️ What else you might’ve missed:

• Aritzia ($ATZ) was up ~6% after reporting an increase in quarterly revenue and seeing an improved inventory position.

• Nike ($NKE) was up ~7% despite missing quarterly revenue estimates.

• Disney ($DIS) announced a crackdown on password sharing for Disney+ accounts in Canada.

• Costco ($COST) hit a new 52-week high and is selling 1-ounce gold bars on its website.

• Peleton ($PTON) and Lululemon ($LULU) have entered a 5-year partnership.

• Google ($GOOG) announces it will be shutting down its podcasts app in 2024.