---

This is a published version of the Forbes Daily newsletterYou can sign up here to receive Forbes Daily in your inbox.

---

Good morning,

Health insurers are using AI to deny coverage for care. Now patients are using technology to fight back.

UnitedHealthcare, whose CEO Brian Thompson was killed last week, is rejecting an estimated one-third of claims submitted – nearly double the industry average – and the insurance giant is being sued for allegedly using an AI model to reject claims with a “90% error rate.” has. ”

But a San Francisco Bay Area software developer recently created a free tool uses AI to create pre-written appeals based on the information you provide.

“This has come into focus because of national events…” But the problem has been under the surface for a very long time,” said Warris Bokhari, co-founder and CEO of Claimable, a new startup that is also using AI to combat denials.

First

The Nasdaq reached a new all-time high on Wednesday with over 20,000 points For the first time in the index’s 53-year historyas it has risen sharply this year due to the AI ​​boom. The rally was led by Broadcom, Alphabet, Crowdstrike and Tesla, as well as some of the world’s largest companies such as Nvidia and Amazon.

Bitcoin price rose above $100,000 on Wednesday. Expanding his gains after the election according to the latest inflation report. Bitcoin rose nearly 6% to over $101,300 late Wednesday afternoon after a two-day selloff.

BUSINESS + FINANCE

In this year’s final inflation report, consumer prices rose 2.7% year-on-year in November, in line with analysts’ expectations. The The Federal Reserve is expected to cut interest rates by 25 basis points next week, although its officials signaled last month that the Fed was more open to “gradual” rate cuts.

Circle and Binance have joined forces in a partnership that deepens ties between USD Coin, a stablecoin with $41 billion in assets under management, and the world’s largest crypto exchange. Partnering with a major U.S. crypto firm could give Binance a reputation boost after its founder Changpeng Zhao resigned as CEO last year and pleaded guilty to violating anti-money laundering and sanctions laws.

Wealth + Entrepreneurship

Elon Musk, the world’s richest person, briefly became the first to have a net worth of over $400 billion – making him special worth more than any billionaire Forbes ever pursued in almost four decades of ranking the world’s billionaires. Musk’s net worth rose by $58 billion on Wednesday afterward Forbes confirmed that SpaceX and its investors had agreed to buy back insider shares in a deal that valued the rocket company at $350 billion, as first reported by Bloomberg.

Billionaire David Bonderman, whose Private equity firm TPG has orchestrated dozens who was involved in leveraged buyouts over the decades since its founding in 1992, has died at the age of 82. Bonderman, the Forbes Estimated to be worth $7.4 billion at his death, he began his career as a lawyer and was a founding owner of the NHL team Seattle Kraken.

TECH + INNOVATION

Google has unveiled a prototype of smart glasses powered by the next generation of its trademark Gemini, an artificial intelligence model to give wearers information about their surroundings in real time. More than a decade ago, the tech giant introduced its ill-fated Google Glass, sparking backlash over privacy concerns, but the market for wearable technology has become less hostile since then.

MONEY + POLITICS

Linda McMahon, former WWE executive and President-elect Donald Trump’s pick to lead the Department of Education, quietly financed his loud October rally at Madison Square Garden. On October 18, McMahon presented a $1 million check to the America First Action Fund, a new super PAC, which four days later paid $500,000 to Madison Square Garden.

MORE: FBI Director Christopher Wray told agency employees he planned to resign in January, just over a week after President-elect Donald Trump nominated Kash Patel as his successor. Trump nominated Wray to a 10-year term during his first term in the White House, but repeatedly criticized him, including over the agency’s role in various federal investigations into Trump.

SPORTS + ENTERTAINMENT

The NFL dominates Forbes’ current list of the 50 most valuable sports teams in the world, including the Dallas Cowboys, worth an estimated $10.1 billionand thus holds the top spot for the ninth time in a row. But NBA teams made real gains: The league’s 30 franchises were worth an average of $4.4 billion this year, a staggering 596% increase compared to a decade ago.

Saudi Arabia has been confirmed as host of the 2034 World Cup, a controversial move All eyes are on the human rights record and concerns about the abuses of migrant workers that plagued the 2022 World Cup in Qatar. The Saudi plan was criticized for the apparent ease with which the bid was approved by FIFA and for contributing to the country’s efforts to “burnish its sporting history”, while FIFA claimed it could help bring about positive change .

TRENDS + EXPLAINERS

The fatal shooting of UnitedHealthcare CEO Brian Thompson has sparked discussions in boardrooms about whether companies need to strengthen protections for C-suite executives. Just about one A quarter of public companies offer personal protection To all executives: It is expensive, and depending on the type of security, who is being protected, and whether a formal security study has been conducted, this cost may or may not receive favorable tax treatment.

The law that could ban TikTok gives creators the right to get all of their data back from the company ahead of a possible ban, a provision that aims to do so Protect creators from having their works disappear when the app is locked. You can take advantage of TikTok’s in-app feature that allows users to download their data. However, if you still do not have all the data you need, you can submit a request using this legal form.

DAILY COVER STORY

The Midas List Europe

TOPLINE In the last year, Europe’s top AI startups – Mistral, Helsing and Wayve –Together they have raised more than $2.2 billion. Although these numbers are still dwarfed by the colossal fundraising and valuations of US-based AI competitors, they suggest a sea change in technology investment on the continent and the Middle East, as evidenced in this year’s Midas List Europe reflects.

Despite the excitement around AI, Europe and its start-ups continue to act against AI Background to the ongoing crisis in Ukraineand confront the looming specter of a trade war with the United States. But despite changing global trends, the best investors in Europe and the Middle East have demonstrated a flair for backing the most valuable startups.

The Midas List Europe was created in collaboration with TrueBridge Capital Partners Definitive ranking of the 25 best tech investors in Europe and the Middle East. This year, Point Nine Capital’s Pawel Chudzinski moves to the top, thanks in part to its $45 billion raise from British fintech Revolut, combined with early bets on banking startup Mambu and crypto investigative tool Chainalysis.

This year’s list sees five new VCs join the golden-handed investor club. These include Jeannette zu Fürstenberg from General Catalyst, her former investment partner Robert Lacher from Visionaries Collective and Florian Schweitzer from b2ventures. IVP’s Eric Liaw, a veteran of the international roster, joins the growing cohort of American investors now based in London.

WHY IT’S IMPORTANT “The Midas List Europe is smaller than the global Midas List Forbes published every year, offers a Take a look into the minds behind the most successful deals on the continent,” says Forbes deputy editor-in-chief Katharine Schwab. “Chudzinski, who made a name for himself by entering the Berlin startup scene after the financial crisis, is making it to the top for the first time this year. He told Forbes It was incredible to see the city’s startup economy explode. “It’s unbelievable,” says Chudzinski. “Just as incredible as the development of the tech ecosystem in Europe.”

MORE Europe’s top VC is betting big on Berlin’s once “poor but sexy” startup scene

FACTS + COMMENTS

The NFL will expand its reach across Europe next year by playing for the first time regular season football game in Berlin. The league is trying to expand its international audience:

34 years ago: The first time an NFL preseason game took place in the Olympic Stadium in Berlin

20 million: The number of NFL fans in Germany according to NFL Commissioner Roger Goodell

Up to eight: According to Goodell, how many games does the league plan to play outside the U.S. next year?

STRATEGY + SUCCESS

Asking for a raise can seem daunting, but managing the conversation successfully can help you along the way You will be compensated fairly and invested in your role. Before approaching your boss, evaluate your contributions objectively: consider your measurable impact on factors like revenue growth or cost savings. And be sure to do market research on the pay of similar positions elsewhere.

VIDEO

QUIZ

Several major social media apps experienced outages on Wednesday. Which of the following Is not one?

A. Facebook

B. WhatsApp

C. TikTok

D. Instagram

Check your answer.

---

Thanks for reading! This edition of Forbes Daily was edited by Chris Dobstaff, Sarah Whitmire and Caroline Howard.