TOP NEWS
Quarterly Investment Guide
Roll up, roll up: Fortune's Quarterly Investment Guide is out today. Here's Rey Mashayekhi on how to invest for the 22nd century, Bernhard Warner on what the savviest short-sellers should be eyeing, and Anne Sraders on Cathie Wood's 2021 picks. Full package here: Fortune
Coinbase debut
Coinbase made its hugely anticipated debut yesterday, closing 31% above the reference price. By market cap at the close of the first day of trading—just over $61 billion—its listing was the 7th biggest in U.S. history. The exchange says it is storing around 11% of all the cryptocurrency in the world, half of which is from institutional investors. Fortune
Innovative companies
Boston Consulting Group has released its annual Most Innovative Companies report, and this year it focuses on the pandemic-battling likes of Pfizer and J&J. Interestingly, BCG found for the fifth year running that the most innovative firms are significantly more diverse than average. BCG
mRNA only
Speaking of the vaccine makers, the European Commission has been dropping heavy hints about focusing only on new-fangled mRNA-based COVID vaccines after this year, which would leave the adenovirus camp—notably AstraZeneca and J&J—in the dust. The Russian maker of the Sputnik V vaccine, however, is trying to differentiate its adenovirus-based jab from those other two, stressing there are no indications of a link between Sputnik V and blood clots. Fortune
AROUND THE WATER COOLER
A.I. rules
The European Commission's upcoming A.I.-regulation proposals have leaked, showing that some uses of "high-risk" systems—such as China-style social scoring—will be banned. Per Politico: "The proposal also wants to prohibit A.I. systems that cause harm to people by manipulating their behavior, opinions or decisions; exploit or target people's vulnerabilities; and for mass surveillance." But there would be a carve-out for the fight against serious crime, which may not please rights advocates. Politico
Instagram apology
Instagram has apologized after its new content-search algorithm was found to be promoting terms such as "appetite suppressants" and "fasting" to people with eating disorders. "As part of this new feature, when you tap on the search bar, we’ll suggest topics you may want to search for," said a spokesperson for Instagram owner Facebook. "Those suggestions, as well as the search results themselves, are limited to general interests, and weight loss should not have been one of them." BBC
Unlocker unveiled
How did the FBI manage to unlock one of the San Bernardino shooters' iPhone in 2016, ending an epic encryption-related impasse between Apple and the government? Turns out it was the work of a small Australian hacking firm called Azimuth Security. Washington Post
Bernie Madoff
Über-fraudster Bernie Madoff has died behind bars, so now's a good time to delve into Fortune's archive—this piece from 2009 explains how his crimes worked. Fortune
This edition of CEO Daily was edited by David Meyer.