Biopharma spent 2025 behaving like a sector that has finally read the fine print on the cost of capital—and decided to let someone else pick up the bar tab. Licensing and M&A stepped into the role IPOs used to play, and did…
Meta’s agreed purchase of AI agent startup Manus for more than $2 billion reads like a late‑cycle plot twist: the social media giant that rebranded around the metaverse is now buying an AI “do‑it‑for‑you” brain to justify all that spending. In Wall…