Daily Business Report: Aug. 18, 2023
Visual Capitalist
The World’s Wealthiest Cities,
by Number of Millionaires
By Raul Amoros
How many millionaires, centimillionaires, and billionaires live in the world’s wealthiest cities? While such metrics are not all encompassing, these measurements of private wealth do help put the financial health and economic activity of some of the world’s wealthiest cities in perspective.
This infographic uses information from the Henley Global Citizens Report, in partnership with New World Wealth, to rank the world’s wealthiest cities. It leverages a comprehensive data set that tracks the movements and spending habits of high-net-worth individuals in over 150 cities around the world.
In the latest edition of the ranking, North America has a strong showing with seven of the wealthiest cities, by number of millionaires. In particular, the United States claims five of the cities in the top 10, including the very top spot with New York City.
Asia is the region with the second most millionaires with six cities in the mix. Not surprisingly, China is home to three of these cities, including Hong Kong (SAR).
Europe comes in third with five cities, though only London makes into the top 10 portion of the ranking. Finally, Oceania has two cities on the list, both located in Australia.
Which bills are California ‘housing killers?’
By Lynn La | CalMatters
The California Chamber of Commerce has its annual “job killer” list, with a track record of spiking bills that is the envy of other industry groups. By its count, only 58 of the 824 bills labeled “job killers” between 1997 and 2022 made it into law without at least significant changes it wanted.
Similarly, California homebuilders have their own list of housing bills they oppose, though it’s lesser known and shorter-lived.
The California Building Industry Association’s “housing killers” are bills that it says would make the housing crisis worse by “increasing cost, time, and hurdles to build homes.”
For the current session, the list has six bills, including Assembly Bill 68, which was designed to streamline approvals for “climate smart” urban housing. But the association says the measure would “considerably increase” housing costs by “only allowing for much more expensive multi-family high rise homes to be built.”
UC San Diego ranked as 19th best university in the world in 2023
By Chris Jennewein | Times of San Diego
UC San Diego came in 19th in a respected international ranking of the world’s top institutions of higher education released this week. The 2023 Academic Ranking of World Universities, produced by the Shanghai Jiao Tong University and understood to favor the sciences, ranked Harvard University first and Stanford University second.
Among public institutions, UC San Diego ranked fourth after UC Berkeley, UCLA and the University of Washington.
“We are pleased to see UC San Diego’s reputation as one of the top-ranked global research universities continue to climb in global rankings and recognition,” said Chancellor Pradeep K. Khosla.
The United States accounted for 15 of the worlds’ top 20 universities, and California had five of them — Stanford, Berkeley, CalTech, UCLA and UCSD.
Theresa Cunningham joins San Diego Tourist
Authority as its first director of diversity, equity
and inclusion and community engagement
Theresa Cunningham has been hired as the San Diego Tourism Authority’s first director of diversity, equity and inclusion and community engagement.
The all-new position will strengthen the organization’s historic diversity efforts by having a dedicated director to manage and execute diversity, equity and inclusion (DEI) initiatives.
Cunningham will work closely with SDTA departments to create key performance indicators aligned with organizational goals, represent SDTA on community boards, and manage SDTA’s award-winning Tourism Accelerator program, which helps San Diego-area businesses owned by women, veterans, people of color and LGBTQIA+ community members expand their operations and tap into the local tourism industry.
Previously, Cunningham served as vice president of strategic initiatives at Reality Changers, a San Diego nonprofit that prepares youth to become first-generation college graduates and agents of change in their communities.
AleSmith Brewing Company celebrates its 28th anniversary
AleSmith Brewing Company will celebrate its 28th anniversary on Saturday, Aug. 26th, at its Miramar brewery location. The festivities will be held from 11a.m. to 10 p.m., with the official party starting at 2 p.m.
Live music will be provided by Andy Citrin, Shane Hall, and Aviator Stash, beginning at 5 p.m. Along with several drink specials all day, including two limited edition Anniversary beers, food trucks will also be on-site.
Prior to the party, AleSmith will also be hosting its 3rd Annual Barrel-Aged VIP Experience event. Attendees will have the exclusive opportunity to taste some of AleSmith’s rarest and most decadent cellar offerings. These delights will lead up to the official start of the evening’s Anniversary Party, which will be topped off with live music, DJs, and silent disco.
For more information on AleSmith’s 28th Anniversary Party and Barrel-Aged VIP Experience, go to the brewery’s website or follow them on social media.
How cold temperatures trigger the brain to boost appetite
Neuroscientists at Scripps Research have identified brain circuits that make mammals want to eat more when they are exposed to cold temperatures.
Mammals automatically burn more energy to maintain normal body temperature when exposed to cold. This cold-activated increase in energy expenditure triggers an increase in appetite and feeding, although the specific mechanism controlling this had been unknown. In the new study, reported on August 16, 2023, in Nature, the researchers identified a cluster of neurons that work as a “switch” for this cold-related, food-seeking behavior in mice. The discovery could lead to potential therapeutics for metabolic health and weight loss.
USD-based artists commissioned to build art for Burning Man
By Kevin Dobyns |USD
Unfolding Humanity is a sculpture undertaken by the Art Builds Collective at University of San Diego, and it has been commissioned as an honoraria project for this year’s Burning Man. Originally exhibited in 2018, this interactive sculpture has undergone a complete makeover, and its revival promises to captivate hearts and minds once more.
That’s undoubtedly why Art Builds exists in the first place. Launched several years ago by University of San Diego professors Austin Choi-Fitzpatrick in the Kroc School of Peace Studies, Gordon Hoople from Integrated Engineering in the Shiley-Marcos School of Engineering, Diane Hoffoss in Mathematics, and Nate Parde from Theatre Studies, the effort is supported with hundreds of volunteer hours every year and is now a registered non-profit organization.
“We’re keenly motivated,” says Choi-Fitzpatrick, “by the idea that art can be collective action, and that it can bring us together around shared projects for the public good.”
Road Runner Sports and PHIT America partner to improve kids’ health
Road Runner Sports, the premier retailer of running, fitness and innovative athletic products, and PHIT America, America’s leading charity improving children’s health, have joined efforts to get thousands of children more active for improved physical and mental health. Road Runner Sports will significantly expand PHIT America’s programs in U.S. schools by becoming the Presenting Sponsor of PHIT America’s AMPED running/walking fitness program.
South 8 Technologies secures investment from Lockheed Martin Ventures
South 8 Technologies Inc., the San Diego cleantech company innovating safer and higher performance electrolytes for the next generation of lithium-ion batteries, has closed a strategic investment with Lockheed Martin Ventures, the venture arm of Lockheed Martin, with participation from current South 8 investors LG Technology Ventures, Foothill Ventures and Anzu Partners. South 8 Technologies, Inc. has developed a novel liquefied gas electrolyte product, LiGas, to power the next generation of lithium-ion batteries and advance the world’s clean energy future.
10xBio announces completion of enrollment in
Phase 2b clinical trial of drug for body contouring
10xBio LLC, a biotechnology company that focuses on new uses for existing therapies and technologies, announced that it has completed enrollment in a repeat treatment study of its novel injectable drug for submental body contouring. The drug, 10XB101, is a proprietary formulation of polidocanol, which is approved in the U.S. for vein sclerotherapy. 10xBio is repurposing polidocanol for body contouring applications in aesthetic medicine. The global non-invasive fat removal market is estimated at $4 billion, and is currently dominated by medical devices and just one U.S. marketed drug containing deoxycholate as the active pharmaceutical ingredient
Vector Space Biosciences files for registration
for space launch of biological CubeSats
Vector Space Biosciences announces it has begun filing for licensing and registration for the design, development and launching of biological CubeSats, enabling biotechnology, pharmaceutical and advanced materials companies to generate unique and powerful datasets to advance the space industry. Customers are invited to pre-register now and during the Vector Space Biosciences talk at Oracle Health Conference on Sept. 20, 2023. Vector Space Biosciences is working with NASA and others to eventually enable multiple launches per week for a wide array of customers.
American Mortgate Network named to the Inc. 2023
list of fastest-growing, privately-owned companies
Inc. revealed that mortgage banker American Mortgage Network ESOP, a 100 percent employee-owned company, has been named to the Inc. 2023 list of 5,000 Fastest-Growing, Privately-Owned Companies in America. For the first time in its four-year history, the company has earned the 997th spot on the list of 5,000 companies as well as 153rd in California, and 18th in the San Diego-Chula Vista-Carlsbad region. Notably, American Mortgage Network secured the 63rd spot among Financial Services companies on the Inc. 5000 list.
Aya Healthcare announces a $50,000 investment
in Future Leaders in Medicine Scholarship
Aya Healthcare, the nation’s largest health care talent software and staffing company, announced the Future Leaders in Medicine Scholarship in partnership with National Medical Fellowships Inc. (NMF), a nonprofit providing scholarships, service-learning programs, mentorship and clinical research leadership training for chronically marginalized students of medicine, behavioral health and related health professions. This initiative will grant $10,000 to five exceptional students currently enrolled in medical programs, to support their journey towards becoming leaders in healthcare.
Artiva Biotherapeutics announces FDA clearance of lupus drug
Artiva Biotherapeutics Inc., a clinical stage company whose mission is to deliver highly effective, off-the-shelf, allogeneic natural killer cell-based therapies, announced that the U.S. Food and Drug Administration has cleared the company’s Investigational New Drug application for AlloNK, in combination with rituximab for treatment of systemic lupus erythematosus in patients with active lupus nephritis. AlloNK is a non-genetically modified, cord blood-derived, allogenic, cryopreserved NK cell therapy candidate designed to enhance antibody-dependent cellular cytotoxicity.
Veracyte earns Top Workplace awards in San Diego, South San Francisco
Veracyte Inc. announced that its South San Francisco and San Diego offices have been named top workplaces. Veracyte’s South San Francisco location has been awarded a Top Bay Area Workplaces 2023 honor by the San Francisco Chronicle, in partnership with Energate LLC. Veracyte’s San Diego office has received its inaugural Best Places to Work in San Diego award by the San Diego Business Journal in partnership with Workforce Research Group.
Disguise costumes extends Nintendo licensing rights
Poway-based Disguise Inc., the renowned costume division of JAKKS Pacific Inc., a leading toy and consumer products manufacturer, announced an extension of its global rights. This extension allows Disguise to continue its partnership with Nintendo of America in designing, developing, and manufacturing costumes and costume accessories in a multi-year agreement that spans across the globe.
EQM Indexes Online Retail Index adds Omnichannel retail segment
San Diego-based index developer EQM Indexes announces an important enhancement to its Online Retail Index, adding a new retail segment called “omnichannel.” Omnichannel retail integrates traditional and online channels to create a cohesive customer-centric experience regardless of the platform or method used to originate a purchase. Omnichannel retail includes innovative features with regard to purchasing options, search, cart sharing, earned rewards, ease of returns, delivery options, pricing unity, and payment flexibility, that integrate with online and mobile to improve the customer experience.
Tentarix and Gilead Sciences announce collaboration
Gilead Sciences Inc. and San Diego-based Tentarix Biotherapeutics announced that the companies established three multi-year collaborations leveraging Tentarix’s proprietary Tentacles platform to discover and develop multi-functional, conditional protein therapeutics for oncology and inflammatory diseases. Designed to enhance both therapeutic benefit and safety, these molecules have the potential to conditionally target immune cells related to disease pathways without activating other immune cells that may create adverse events.
