18 of the Best Stress-Relieving Foods – Healthline

If youre feeling stressed, its only natural to seek relief.

While occasional bouts of stress are difficult to avoid, chronic stress can take a serious toll on your physical and emotional health. In fact, it may increase your risk of conditions like heart disease and depression (1, 2, 3, 4).

Interestingly, certain foods and beverages may have stress-relieving qualities.

Here are 18 stress-relieving foods and beverages to add to your diet.

This vibrant green tea powder is popular among health enthusiasts because its rich in L-theanine, a non-protein amino acid with powerful stress-relieving properties.

Matcha is a better source of this amino acid than other types of green tea, as its made from green tea leaves grown in shade. This process increases its content of certain compounds, including L-theanine (5).

Both human and animal studies show that matcha may reduce stress if its L-theanine content is high enough and its caffeine is low (6).

For example, in a 15-day study, 36 people ate cookies containing 4.5 grams of matcha powder each day. They experienced significantly reduced activity of the stress marker salivary alpha-amylase, compared with a placebo group (7).

Swiss chard is a leafy green vegetable thats packed with stress-fighting nutrients.

Just 1 cup (175 grams) of cooked Swiss chard contains 36% of the recommended intake for magnesium, which plays an important role in your bodys stress response (8, 9).

Low levels of this mineral are associated with conditions like anxiety and panic attacks. Plus, chronic stress may deplete your bodys magnesium stores, making this mineral especially important when youre stressed (10).

Eating whole, nutrient-rich carb sources like sweet potatoes may help lower levels of the stress hormone cortisol (11).

Although cortisol levels are tightly regulated, chronic stress can lead to cortisol dysfunction, which may cause inflammation, pain, and other adverse effects (12).

An 8-week study in women with excess weight or obesity found that those who ate a diet rich in whole, nutrient-dense carbs had significantly lower levels of salivary cortisol than those who followed a standard American diet high in refined carbs (13).

Sweet potatoes are a whole food that makes an excellent carb choice. Theyre packed with nutrients that are important for stress response, such as vitamin C and potassium (14).

Kimchi is a fermented vegetable dish thats typically made with napa cabbage and daikon, a type of radish. Fermented foods like kimchi are packed with beneficial bacteria called probiotics and high in vitamins, minerals, and antioxidants (15).

Research reveals that fermented foods may help reduce stress and anxiety. For example, in a study in 710 young adults, those who ate fermented foods more frequently experienced fewer symptoms of social anxiety (16).

Many other studies show that probiotic supplements and probiotic-rich foods like kimchi have beneficial effects on mental health. This is likely due to their interactions with your gut bacteria, which directly affect your mood (17).

Artichokes are an incredibly concentrated source of fiber and especially rich in prebiotics, a type of fiber that feeds the friendly bacteria in your gut (18).

Animal studies indicate that prebiotics like fructooligosaccharides (FOSs), which are concentrated in artichokes, may help reduce stress levels (19).

Plus, one review demonstrated that people who ate 5 or more grams of prebiotics per day experienced improved anxiety and depression symptoms, as well as that high quality, prebiotic-rich diets may reduce your risk of stress (20).

Artichokes are also high in potassium, magnesium, and vitamins C and K, all of which are essential for a healthy stress response (14, 21).

Organ meats, which include the heart, liver, and kidneys of animals like cows and chickens, are an excellent source of B vitamins, especially B12, B6, riboflavin, and folate, which are essential for stress control.

For example, B vitamins are necessary for the production of neurotransmitters like dopamine and serotonin, which help regulate mood (22, 23).

Supplementing with B vitamins or eating foods like organ meats may help reduce stress. A review of 18 studies in adults found that B vitamin supplements lowered stress levels and significantly benefited mood (22).

Just 1 slice (85 grams) of beef liver delivers over 50% of the Daily Value (DV) for vitamin B6 and folate, over 200% of the DV for riboflavin, and over 2,000% of the DV for vitamin B12 (24).

Eggs are often referred to as natures multivitamin because of their impressive nutrient profile. Whole eggs are packed with vitamins, minerals, amino acids, and antioxidants needed for a healthy stress response.

Whole eggs are particularly rich in choline, a nutrient found in large amounts in only a few foods. Choline has been shown to play an important role in brain health and may protect against stress (25).

Animal studies note that choline supplements may aid stress response and boost mood (25).

Shellfish, which include mussels, clams, and oysters, are high in amino acids like taurine, which has been studied for its potential mood-boosting properties (26).

Taurine and other amino acids are needed to produce neurotransmitters like dopamine, which are essential for regulating stress response. In fact, studies indicate that taurine may have antidepressant effects (26).

Shellfish are also loaded with vitamin B12, zinc, copper, manganese, and selenium, all of which may help boost mood. A study in 2,089 Japanese adults associated low intakes of zinc, copper, and manganese with depression and anxiety symptoms (27).

Acerola cherries are one of the most concentrated sources of vitamin C. They boast 50100% more vitamin C than citrus fruits like oranges and lemons (28).

Vitamin C is involved in stress response. Whats more, high vitamin C levels are linked to elevated mood and lower levels of depression and anger. Plus, eating foods rich in this vitamin may improve overall mood (29, 30, 31).

Although they can be enjoyed fresh, acerola cherries are highly perishable. As such, theyre most often sold as a powder, which you can add to foods and beverages.

Fatty fish like mackerel, herring, salmon, and sardines are incredibly rich in omega-3 fats and vitamin D, nutrients that have been shown to help reduce stress levels and improve mood.

Omega-3s are not only essential for brain health and mood but may also help your body handle stress. In fact, low omega-3 intake is linked to increased anxiety and depression in Western populations (32, 33, 34).

Vitamin D also plays critical roles in mental health and stress regulation. Low levels are associated with an increased risk of anxiety and depression (35, 36).

Parsley is a nutritious herb thats packed with antioxidants compounds that neutralize unstable molecules called free radicals and protect against oxidative stress.

Oxidative stress is associated with many illnesses, including mental health disorders like depression and anxiety. Studies suggest that a diet rich in antioxidants may help prevent stress and anxiety (37).

Antioxidants can also help reduce inflammation, which is often high in those with chronic stress (38).

Parsley is especially rich in carotenoids, flavonoids, and volatile oils, all of which have powerful antioxidant properties (39).

Garlic is high in sulfur compounds that help increase levels of glutathione. This antioxidant is part of your bodys first line of defense against stress (40).

Whats more, animal studies suggest that garlic helps combat stress and reduce symptoms of anxiety and depression. Still, more human research is needed (41, 42).

Tahini is a rich spread made from sesame seeds, which are an excellent source of the amino acid L-tryptophan.

L-tryptophan is a precursor of the mood-regulating neurotransmitters dopamine and serotonin. Following a diet high in tryptophan may help boost mood and ease symptoms of depression and anxiety (14).

In a 4-day study in 25 young adults, a high tryptophan diet led to better mood, decreased anxiety, and reduced depression symptoms, compared with a diet low in this amino acid (43).

Sunflower seeds are a rich source of vitamin E. This fat-soluble vitamin acts as a powerful antioxidant and is essential for mental health.

A low intake of this nutrient is associated with altered mood and depression (44).

Sunflower seeds are also high in other stress-reducing nutrients, including magnesium, manganese, selenium, zinc, B vitamins, and copper (45).

Cruciferous vegetables like broccoli are renowned for their health benefits. A diet rich in cruciferous vegetables may lower your risk of certain cancers, heart disease, and mental health disorders like depression (46, 47, 48).

Cruciferous vegetables like broccoli are some of the most concentrated food sources of some nutrients including magnesium, vitamin C, and folate that have been proven to combat depressive symptoms (48).

Broccoli is also rich in sulforaphane, a sulfur compound that has neuroprotective properties and may offer calming and antidepressant effects (49, 50, 51).

Additionally, 1 cup (184 grams) of cooked broccoli packs over 20% of the DV for vitamin B6, a higher intake of which is tied to a lower risk of anxiety and depression in women (52, 53).

Chickpeas are packed with stress-fighting vitamins and minerals, including magnesium, potassium, B vitamins, zinc, selenium, manganese, and copper.

These delicious legumes are also rich in L-tryptophan, which your body needs to produce mood-regulating neurotransmitters (54).

Research has found that diets rich in plant proteins like chickpeas may help boost brain health and improve mental performance (55).

In a study in over 9,000 people, those who followed a Mediterranean diet rich in plant foods like legumes experienced better mood and less stress than those who followed a typical Western diet rich in processed foods (56).

Chamomile is a medicinal herb that has been used since ancient times as a natural stress reducer. Its tea and extract have been shown to promote restful sleep and reduce symptoms of anxiety and depression (57, 58).

An 8-week study in 45 people with anxiety demonstrated that taking 1.5 grams of chamomile extract reduced salivary cortisol levels and improved anxiety symptoms (59).

Blueberries are associated with a number of health benefits, including improved mood (60, 61).

These berries are high in flavonoid antioxidants that have powerful anti-inflammatory and neuroprotective effects. They may help reduce stress-related inflammation and protect against stress-related cellular damage (62).

Whats more, studies have shown that eating flavonoid-rich foods like blueberries may safeguard against depression and boost your mood (60, 63).

Numerous foods contain nutrients that may help you reduce stress.

Matcha powder, fatty fish, kimchi, garlic, chamomile tea, and broccoli are just a few that may help.

Try incorporating some of these foods and beverages into your diet to naturally promote stress relief.

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18 of the Best Stress-Relieving Foods - Healthline

Sports and Fitness Nutrition Supplements Market 2019 Break Down by Top Companies, Countries, Applications, Challenges, Opportunities and Forecast 2026…

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1.4 million for genetics research on how obesity in pregnancy affects mother and baby – Mirage News

Dr. Freathys team will study measures including the weight of a baby and placenta, and how early or late the baby is born

A new 1.4 million award from the Wellcome Trust will help researchers at the University of Exeter understand the processes that link a pregnant mothers obesity with health problems for her and her baby.

Obesity is known to be one of the most common risk factors for complications of pregnancy and birth. Now, Dr Rachel Freathy, at the University of Exeter Medical School, has been awarded a Wellcome Senior Research Fellowship to study human genetics data in babies, mothers and fathers to understand the mechanisms involved in causing these health problems, with a view to improving care.

Over five years, Dr. Freathys team will study measures including the weight of a baby and placenta, and how early or late the baby is born. They will investigate how these measures link with known risk factors connected to obesity in mothers, such as pregnancy-related diabetes and high blood pressure.

Dr Freathy said: Weve long known that obesity in pregnancy increases the risk of a range of complications for mother and baby yet little is known about the mechanisms that underpin these problems. Its essential that we understand processes such as how a fetus regulates its own growth, how the mothers glucose and blood pressure affect the fetus, and how the fetus itself might influence changes in the mothers body in pregnancy. The award from Wellcome gives us an amazing opportunity to really understand these processes and how they act together to influence risk in an individual pregnancy, which could help us to personalise antenatal care in the future.

Previous work led by Dr. Freathys team has identified 190 links between our genetic code and birth weight, and has shown that many of these genetic links to birth weight also influence risk of diseases such as Type 2 diabetes in later life.

Professor Clive Ballard, Executive Dean and Pro-Vice Chancellor of the University of Exeter Medical School, said: Huge congratulations to Rachel, who has built up internationally-renowned expertise in the field of the genetics of mothers and babies. Already her work has shaped understanding in this field, and has the potential to make a significant impact on care.

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1.4 million for genetics research on how obesity in pregnancy affects mother and baby - Mirage News

Aerpio Hosting Key Opinion Leader Call on a Novel Mechanism for the Treatment of Glaucoma – GlobeNewswire

CINCINNATI, June 08, 2020 (GLOBE NEWSWIRE) -- Aerpio Pharmaceuticals, Inc. (Aerpio) (Nasdaq: ARPO), a biopharmaceutical company focused on developing compounds that activate Tie2 to treat ocular diseases and diabetic complications, today announced that it is hosting a key opinion leader (KOL) call on a novel mechanism for the treatment of glaucoma on Friday, June 12, 2020 at 11:30am Eastern Time.

The call will feature presentations by Dr. Paul Kaufman M.D. (University of Wisconsin) and Dr. Janey Wiggs, M.D., Ph.D. (Massachusetts Eye and Ear Infirmary and Harvard Medical School), who will discuss the current glaucoma treatment landscape and unmet medical needs, as well as the role of the Tie2 receptor in maintaining intraocular pressure. Drs. Kaufman and Wiggs will be available to answer questions at the conclusion of the event.

Aerpio's management team will also discuss its pipeline candidate, razuprotafib (formerly AKB-9778), for treating patients with glaucoma. Razuprotafib is a small molecule inhibitor that restores Tie2 activation in Schlemms canal and lowers intraocular eye pressure (IOP) via decreasing resistance to outflow from the eye. Razuprotafib has been formulated as a once or twice-daily topical eye drop and is entering a Phase 2 clinical trial in Q3:20, with top line data expected in Q1:21.

Aerpio recently announced positive and statistically significant intraocular eye pressure (IOP) reduction in a Phase 1b trial of 43 glaucoma patients, when razuprotafib was added to prostaglandin treatment. This data set is summarized here.

Paul Kaufman, M.D. is the Ernst H. Brny Emeritus Professor of Ocular Pharmacology and past Chair of the Department of Ophthalmology & Visual Sciences at the University of Wisconsin School of Medicine and Public Health, in Madison, Wisconsin. He is a physician-scientist, specializing in glaucoma and studying the mechanisms of aqueous humor formation and drainage, and the age-related loss of near vision. Dr Kaufman is a past President and past Executive Vice President of the Association for Research in Vision and Ophthalmology (ARVO), past President of the International Society for Eye Research (ISER), and has served on the US National Advisory Eye Council and numerous foundation and corporate scientific advisory boards. He has had continuous research funding from the US National Eye Institute for 40 years and from numerous private foundations, has authored over 375 original scientific articles and 75 book chapters, co-edited several textbooks including the most recent editions of Adlers Physiology of the Eye, and received numerous honors and awards including the Friedenwald Award from ARVO and the Balazs Prize from ISER. He was Editor-in-Chief of Investigative Ophthalmology & Visual Science from 2008 through 2012. Dr. Kaufman also holds an honorary Doctor of Medicine degree from Uppsala University in Sweden, where he was a post-doctoral research fellow.

Janey L. Wiggs, M.D., Ph.D. is a physician-scientist at the Massachusetts Eye and Ear Infirmary and Harvard Medical School. She is currently the Paul Austin Chandler Professor of Ophthalmology and is the Vice Chair for Clinical Research in Ophthalmology at Harvard Medical School. She also directs the CLIA-certified genetic testing laboratory at the Massachusetts Eye and Ear Infirmary and is a co-director of the Ocular Genomics Institute and co-director of the Glaucoma Center of Excellence. Dr. Wiggs received her B.A. and Ph.D. degrees in biochemistry from the University of California at Berkeley and her M.D. degree from Harvard Medical School. She did post-doctoral training in molecular genetics under the direction of Dr. Ted Dryja. Dr. Wiggs completed the ophthalmology residency at the Massachusetts Eye and Ear Infirmary and received fellowship training in glaucoma and also in medical genetics and is certified by the both the American Board of Ophthalmology and the American Board of Medical Genetics. Dr. Wiggs research program is focused on the discovery and characterization of genetic factors that contribute to the blinding eye disease glaucoma and is funded by the National Eye Institute (NEI) as well as other nonprofit foundations. She is investigating the genetic etiologies of both early-onset and adult forms of glaucoma and is the PI of the NEIGHBORHOOD consortium for gene discovery in primary open angle glaucoma and is a founding member of the International Glaucoma Genetics Consortium (IGGC). She has also participated in research programs funded by the US-INDO joint working group (NEI) and the NEI eyeGENE consortium. Dr. Wiggs was the inaugural chair of the Genetics Group for ARVO and is an ARVO gold fellow. She currently serves on the editorial boards of IOVS, JAMA Ophthalmology, Molecular Vision, Journal of Glaucoma, and Annual Reviews in Vision Science. She is a member of the scientific advisory boards for the Glaucoma Research Foundation, Research to Prevent Blindness and the Glaucoma Foundation, and is a past member of the Advisory Council of the National Eye Institute. She has received the Heed Award, the Heed/Knapp Award, the Research to Prevent Blindness Scholar Award, the AAO Honor Award, the Lew Wasserman Merit Award, the Alcon Research Award, the David L. Epstein award from the ARVO Foundation and was a winner of the NEI Audacious Goal competition. She is an elected member of the Glaucoma Research Society, the American Ophthalmological Society, the Academia Ophthalmologica Internationalis and the National Academy of Medicine.

About RazuprotafibRazuprotafib binds to and inhibits vascular endothelial protein tyrosine phosphatase (VE-PTP), an important negative regulator of Tie2. Decreased Tie2 activity contributes to vascular instability in many diseases including diabetes and more recently has been shown to contribute to the development of increased IOP and glaucoma. Razuprotafib activates the Tie2 receptor irrespective of extracellular levels of its binding ligands, angiopoietin-1 (agonist) or angiopoietin-2 (antagonist) and may be the most efficient pharmacologic approach to maintain normal Tie2 activation. Aerpio is studying a topical ocular formulation of razuprotafib in open angle glaucoma and exploring the utility of subcutaneous razuprotafib for diabetic complications, including diabetic nephropathy.

About Aerpio PharmaceuticalsAerpio Pharmaceuticals, Inc. is a biopharmaceutical company focused on developing compounds that activate Tie2 to treat ocular diseases and diabetic complications. Recently published mouse and human genetic data implicate the Angpt/Tie2 pathway in maintenance of Schlemms canal, a critical component of the conventional outflow tract. The Companys lead compound, razuprotafib (formerly AKB-9778), a first-in-class small molecule inhibitor of vascular endothelial protein tyrosine phosphatase (VE-PTP), is being developed as a potential treatment for open angle glaucoma, and the Company intends to investigate the therapeutic potential of razuprotafib in other indications. The Company is also evaluating development options for ARP-1536, a humanized monoclonal antibody, for its therapeutic potential in the treatment of diabetic vascular complications including nephropathy and diabetic macular edema (DME). The Companys third asset is a bispecific antibody that binds both VEGF and VE-PTP which is designed to inhibit VEGF activation and activate Tie2. This bispecific antibody has the potential to be an improved treatment for wet age-related macular degeneration and DME via intravitreal injection. Finally, the Company has exclusively out-licensed AKB-4924 (now called GB004), a first-in-class small molecule inhibitor of hypoxia-inducible factor-1 (HIF). GB004 is being developed by AKB-4924s exclusive licensor, Gossamer Bio, Inc. (Nasdaq: GOSS). For more information, please visit http://www.aerpio.com.

Forward Looking StatementsThis press release contains forward-looking statements. Statements in this press release that are not purely historical are forward-looking statements. Such forward-looking statements include, among other things, the Companys product candidates, including razuprotafib, ARP-1536 and the bispecific antibody asset, the clinical development plan therefor and the therapeutic potential thereof, the Companys plans and expectations with respect to razuprotafib and the development therefor and therapeutic potential thereof in addressing COVID-19 and the intended benefits from the Companys collaboration with Gossamer Bio for GB004, including the continued development of GB004 and the milestone and royalty payments related to the collaboration. Actual results could differ from those projected in any forward-looking statements due to several risk factors. Such factors include, among others, the continued development of GB004 and maintaining and deriving the intended benefits of the Companys collaboration with Gossamer Bio; ability to continue to develop razuprotafib or other product candidates, including in indications related to COVID-19; the inherent uncertainties associated with the drug development process, including uncertainties in regulatory interactions, the design of planned or future clinical trials, commencing clinical trials and enrollment of patients in clinical trials; obtaining any necessary regulatory clearances in order to commence and conduct planned or future clinical trials; the impact of the ongoing COVID-19 pandemic on the Companys business operations, including research and development efforts and the ability of the Company to commence, conduct and complete its planned clinical activities; and competition in the industry in which the Company operates and overall market conditions; and the additional factors set forth in our Annual Report on Form 10-K for the year ended December 31, 2019, as updated by our subsequent Quarterly Reports on Form 10-Q and our other subsequent filings with the SEC.

These forward-looking statements are made as of the date of this press release, and the Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements, except as required by law. Investors should consult all the information set forth herein and should also refer to the risk factor disclosure set forth in the reports and other documents the Company files with the SEC available at http://www.sec.gov.

Investors & Media:Gina MarekVP Financegmarek@aerpio.comOrInvestors:Irina KofflerLifeSci Advisorsikoffler@lifesciadvisors.com

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Aerpio Hosting Key Opinion Leader Call on a Novel Mechanism for the Treatment of Glaucoma - GlobeNewswire

Amgen To Present At The Goldman Sachs 41st Annual Global Healthcare Conference – Monterey County Weekly

THOUSAND OAKS, Calif., June 5, 2020 /PRNewswire/ -- Amgen (NASDAQ:AMGN) will present at the Goldman Sachs 41st Annual Virtual Global Healthcare Conference on Wednesday, June 10, 2020 at 1:20 p.m. ET. Peter H. Griffith, executive vice president and chief financial officer,and David M. Reese, M.D., executive vice president of Research and Development at Amgen will present at the conference. Live audio of the presentation can be accessed from the Events Calendar on Amgen's website, http://www.amgen.com, under Investors. A replay of the webcast will also be available on Amgen's website for at least 90 days following the event.

About AmgenAmgen is committed to unlocking the potential of biology for patients suffering from serious illnesses by discovering, developing, manufacturing and delivering innovative human therapeutics. This approach begins by using tools like advanced human genetics to unravel the complexities of disease and understand the fundamentals of human biology.

Amgen focuses on areas of high unmet medical need and leverages its expertise to strive for solutions that improve health outcomes and dramatically improve people's lives. A biotechnology pioneer since 1980, Amgen has grown to beone ofthe world'sleadingindependent biotechnology companies, has reached millions of patients around the world and is developing a pipeline of medicines with breakaway potential.

For more information, visitwww.amgen.comand follow us onwww.twitter.com/amgen.

CONTACT: Amgen, Thousand OaksMegan Fox, 805-447-1423 (media)Trish Rowland, 805-447-5631(media)Arvind Sood, 805-447-1060 (investors)

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Amgen To Present At The Goldman Sachs 41st Annual Global Healthcare Conference - Monterey County Weekly

The Gospel According to Peter Thiel – City Journal

Michael Gibson still remembers his first day working for Peter Thiel. Like many of Thiels hires, hed met the contrarian investor through several of the PayPal founders variously eccentric political ventures. A onetime self-described unemployed writer in L.A., whod left a doctoral program in philosophy at Oxford, Gibson had met Thiel through his work at the Seasteading Institute, a Thiel-funded attempt to create a libertarian floating city in international waters. Then Thiel asked him to help teach a class at Stanford Law School on philosophy, technology, and politics. And then Thiel asked him to work for his hedge fund. Gibson had no intention of working in finance, or any experience in doing so, but he and Thiel had, he felt, gelled philosophically, sharing an interest in social thinkers and scholars of religion like mile Durkheim and Ren Girard, as well as a commitment to what Gibson called liberating people from socially conditioned ideas.

Some opportunities you just dont pass up. I show up to work my first day, Gibson says: September 27, 2010. Its a hedge fund, just as you might imagine on TVtheres a ticker tape going around the room, a trading desk, lots of screens with Bloomberg Terminals. And Im sitting there and Im thinkinghow did I end up here?

It took only a few hours for Gibsons life to change. A colleague, he remembers, showed up at his desk and told him: Oh, on the plane ride back from New York last night we came up with this idea. Were going to call it the anti-Rhodes Scholarship, a reference to the prestigious 118-year-old scholarship program that brings young scholars from across the former British Empire to study for free at the University of Oxford. Were going to pay people to leave school and work on things.

There was no time to waste. The annual TechCrunch Disrupt conference was starting that day. Thiel was scheduled to speak. Thiels staff was keen to burnish his imageAaron Sorkins blockbuster account of the creation of Facebook, The Social Network, was slated to be released soon; early leaked copies of the script had suggested that Thiel, a major early investor in the company, wasnt particularly sympathetically portrayed. He wanted to get a jump on that with some good news, Gibson explained. So we went to his house, we got into a car, and we went to this conference. And on the fly, were coming up withokay, well, what do we call this thing? How much money? How many years?

By the time Thiel was backstage, Gibson recalls, they were still discussing specifics. Then Peters on stage, being interviewed and talking about this program as if it already exists, in the present tense. The Thiel Fellowshipwould be a kind of 20 under 20 for the tech industrys incipient disrupters. Twenty entrepreneurs under 20 would get $100,000 to drop out of college and work full-time on their startup ideas. There was no indication, during his interview with TechCrunchs Sarah Lacey, that the idea had been developed only that day.

Thus is life in the orbit of Peter Thiel. With a net worth of approximately $2.3 billion, Thiel is far from the wealthiest person in Silicon Valley (Googles Larry Pages net worth is an estimated $66 billion, for instance). He may, however, be the most influential. Alongside his investments in high-profile companies like Airbnb, LinkedIn, Elon Musks SpaceX, and health-insurance company Oscar, Thiels more esoteric pet projects and funding recipients include some of the Bay Areas most out-of-the-box libertarian-utopian ventures: the Seasteading Institute, the Eliezer Yudkowskyhelmed Machine Intelligence Research Center, which researches how to counter the threat of an intelligent Artificial Intelligence; the Center for Applied Rationality, a de facto headquarters for the Silicon Valley rationalist community; the Methuselah Mouse Prize, which funds antiaging research under the aegis of controversial gerontologist Aubrey de Grey. Thiels foundations have funded gleefully contrarian events like Hereticon, originally scheduled for May 2020 in New Orleans but since postponed, due to the coronavirus. It is billed as a safe space for people who dont feel safe in safe spaces. And theyve founded, too, novel medical apps like Carbyne, an Israeli self-surveillance 911 tool now used in New Orleans as part of the citys Covid-19 public-health effort. Add the spectacular collapse of Gawker Mediabankrupted after a Thiel-funded lawsuit by former wrestling star Hulk Hogan, whose private sex tapes the site had posted in 2012and the election of Donald Trump, to whose 2016 campaign he donated $1.25 million, and a pattern emerges. Wherever theres a major shift in the American landscape in the past half-decadebe it political or culturalthere, somewhere on the donor list of the political campaign, or among the investors in the controversial technology, is Peter Thiel.

At first glance, the Thiel Fellowship is hardly as contrarian as, say, trying to end death. Since its first class was announced in 2011, the fellowship has funded between 20 and 30 promising young entrepreneurs annually. Past Thiel Fellows have created smash hits like Workflowa productivity tool that, following its 2014 launch, was the Apple Stores most downloaded appand successful startups like Ethereum, the cyrpto-currency started by Thiel fellow Vitalik Buterin, and Figma, a design tool built by Dylan Field. Gibson and former fellowship director Danielle Strachman have since left the initiative to start the Thiel-backed 1517 Fund: a seed-stage venture-capital firm that backs the companies of several former Thiel Fellows. The relationship goes both ways: plenty of 1517 funding recipients have later become Thiel Fellows.

Yet the Thiel Fellowship is, on closer inspection, radically subversiveas much an attempt at delegitimizing the contemporary American educational landscape as it is about rewarding young would-be founders. The American collegiate system, Thiel, his staff, and his fellows unanimously affirm, has become a giant scam, transforming potential innovators into subservient drones; indoctrinating the disrupters of tomorrow into Marxist myths of resentment; and using the social-justice buzzwords of class privilege and structural oppression to crush the spirit. Like American progressivism, they say, the university is rotten from the inside out, on this viewand it needs to be burned to the ground, figuratively speaking, so that something new and better can be built from the ashes.

The American collegiate system, Thiel, his staff, and his fellows affirm, has become a giant scam.

The college-to-workplace model is also expensive and time-consuming, and it doesnt reflect the dramatic changes in educational technology that make information accessible to anyone with a smartphone. Strachman compares the current state of such technology to earlier advances in transportation. If you were gonna walk across the states, that would take a long period of time, she observes. But then with the invention of high-speed rail, lets say, you can move orders of magnitude faster. So now, likewise, if Im a young person today and I have a laptop, I can move so much faster than I could even when I was going to school, you know, 20 years ago. The opportunity cost for young people is that much higher. If they have this burning desire to do something right now and they can get started on it, why would you wait four years of a long slow process when you can just start in your dorm room right now?

The very skills and values that Gibson and Strachman see college as currently rewardingdiligently completing assignments, checking off requirements, and producing work to a narrow set of specificationsrun counter to those that the Thiel Foundation emphasizes. One of the biggest early predictors of failure in selecting Thiel Fellows, notes Strachman, was whether a candidate had received an Intel Science Awarda prize for high schoolers often considered catnip to prestigious colleges. Anyone we met who won that did not seem to fare well in the wild, she says. Theres a difference between striving to gain accomplishments within an existing institution where all the parameters are set and transparent and known, where people are giving you commands about what to study and testing you on it, and building companies from scratch, which requires a whole different type of character and set of skills.

When youre in a university, Gibson and Strachman tell me, you usually learn to think in a conformist way. The medium is a message, says Gibson. No matter what you do, if you have people acting obediently and taking orders over 16-plus years, thats going to produce a certain type of person no matter what you teach. Further, he adds, its striking just how biased and far-left universities have become. Universities talk about diversity as a value, Gibson says, but in practice, he believes, they reinforce a strikingly uniform worldview, in which all of us are to some degree the victims of forces beyond our control, individual initiative is overrated, and history is a long list of grievances [and] of moral atrocities.

The Thiel Fellowships politics may not have trickled down to its recipients, but its fundamental ethos of what you might call Thielismthe idea that human progress is driven by the creativity and bravery of a few and stymied by ossified ways of doing thingsis ubiquitous among current and former fellows and permeates many of their startups.

Take Stacey Ferreira, a 2015 fellow. The fellowship was hardly Ferreiras entre into the world of techlike many fellows, shed been successful on the startup circuit long before filling out her application. Shed started her first company, a password-storing site called MySocialCloud, while still in high school, and sold it to Reputation.com in 2013. By 2015, when she started the Thiel program, shed already coauthored a book on the future of work, 2 Billion Under 20: How Millennials Are Breaking Down Age Barriers and Changing the World, with fellow entrepreneur Jared Kleinert (Thiel right-hand-man Blake Masters wrote the foreword). Her current project, founded during her fellowship, is an app called Forge that enables firms to schedule shift workers, bringing the flexibility and location independence of laptop workers to what she calls blue-collar space.

The original version of Forge, Ferreira admits, was probably too idealistic: trying to pair workers with companies where they hadnt yet received any formal training. I learned very, very quickly that [people] like you and me might be super-capable people, but were not going to be able to walk back behind a Starbucks counter and know how to make a caramel macchiato for someone right now. Companies like Starbucks can still use the app to schedule trained workers. Ferreiras ultimate goal, though, is to automate trainingallowing workers to prepare for jobs without excessive bureaucracy intruding. I still would love to live in a world where I could maybe download an app, watch some training videos, and then go do it, she muses. But I think were still a little bit further away from a content perspective. She wants to change the mentalities of businesses, telling them: Hey, the future is coming and its time that we do something about it.

A Beirut-born former fellow, also from the class of 2015, James Kawas is the founder and CEO of a startup called Saily, which has developed a marketplace app letting people buy and sell items locally. Like Ferreira, Kawas was makingand sellingcompanies long before the Thiel Fellowship. And, again like Ferreira, he envisions the startup model as an integral part of human flourishing and freedom. People learn, he insists, by doingnot simply by listening to proponents of disembodied knowledge, or by accepting the authority of people with no skin in the game, such as professors disconnected from reality. After all, he says, he learned to code on his own in high school, utilizing online resources.

He tells me about a friends tech firm, Touch Surgery, through which would-be doctors can hone their skills virtually. You run surgeries, and youll learn how to do surgery. You can play through a surgery 1,520 times, and youll know how to operate. Sure, he caveats, you wont be as good with medical scissors as you would be if you trained in-person at a medical school. But people will be shocked by how much you can understand supposedly complex things just by looking at them.

Kawas, too, lauds the Thiel Fellowship as a mechanism for countering the dirty game of the American educational establishment. Colleges force their thoughts on you, he saystheyre breeding grounds for advocacy. They ruin you as a person. And, worst of all, they teach you that life isnt something that you can control. Accepting yourself as you are is not improving yourself, Kawas insists. He characterizes the extreme leftism of the university as a form of fatalism: assuming that the world cannot change in substantive, even miraculous-seeming ways, through the efforts of a few brilliant, even miraculous-seeming, people.

For the most part, the fellows deny that Thielwhom most refer to just as Peterhas any formal influence on their thinking. They characterize him as a kind of nebulously supportive benefactor: someone who will have breakfast with them a few times, and give them feedback on their latest startup ideas, but who gives them the space and time to develop their own practicaland ideologicalcommitments. But the specific brand of utopianism that the Thiel Fellowships staff and recipients espouse is indebted, implicitly and sometimes explicitly, to Thiels writings, and particularly to his idiosyncratictheologians might say hereticalvision of Christianity, mediated by the work of French philosopher Ren Girard: a distinct fusion of techno-utopianism that characterizes its successes as Christian miracles.

Unlike, say, Ayn Rand, Ren Nol Thophile Girard (19232015) is not an obvious choice to be a philosophical titan of the tech world. A historian and literary critic with a fervent commitment to Christianity and to Christian ethics, Girard was, until recently, a relatively esoteric figure, his works more often referenced on postgraduate philosophy syllabi than in TED Talks. But for Thiel, who studied under Girard at Stanford, the philosopher provides the key to understanding not just Christian metaphysics but also how human beings interact.

Girards theory of the scapegoat and his related notion of mimesis are at the core of Thiels interest. Simply put, Girard holds that human desire is rooted in an obsessive form of imitation. We want not what we should want, but what we see others as having, and thus deem worthy. Human relations are fundamentally predicated on this mimetic desire, which can lead us to harm one another in rivalrous conflict. We resent those who have what we think we wantbut we want what we do because those whom we resent have it.

Societies deal with these inherently chaotic impulses by creating mythic and sacred narratives of legitimate violence, which identify a scapegoat: a chosen, if actually innocent, target for this complex system of violence and desire. The scapegoat is ceremonially purged from the community, often through literal violence, allowing the community to think of itself as blameless, and to expunge its violent desires. Christ, in Girards view, is the ultimate scapegoat, whose blameless sacrifice functions as revelation, exposing the truth of the scapegoat mechanism: that its victim is innocent and that communal sacrifice is a lie.

Thiel and what you might call Thielismthe implicit worldview that pervades both the fellowship and the investors wider political projectsmap mimetic desire onto modern identity politics. Those who view the world as an oppressive system of privilege and oppression are driven by rivalrous resentment.

Thiels best-selling business book Zero to One (coauthored with Blake Masters) is suffused with Girardian themes, though the philosopher is never mentioned by name. Indeed, the authors identify a major cause of business failure as the inability to see beyond the conflicts of mimetic desire. Inside a firm, they write, people become obsessed with their competitors for career advancement. Then the firms themselves become obsessed with their competitors in the marketplace. Amid all the human drama, people lose sight of what matters and focus on their rivals instead. . . . Rivalry causes us to overemphasize old opportunities and slavishly copy what has worked in the past.

This view, the authors suggest, should be understood in contraposition to a Marxist account of history, in which, according to Marx, people fight because they are different. Wrong, Thiel and Masters suggest: people are all the same. Or, at least, if they are not the same, it is because certain people are more capable of harnessing their intellectual potential. (That some people lack the natural intelligence or affinity for harnessing such potential goes unaddressed.)

The creation of a remarkable, cutting-edge company, for Thiel and Masters, shouldnt just be about amassing personal wealth for its founders. It should also be about remaking the worldtransforming personal potential into a technological reimagining of human life. By contrast, the stasis of mimesis, driven by human resentment, leads to political mediocrity and technological anhedonia. To disrupt, insofar as it means to disrupt the mimetic system, is thus a liberating act.

And when radical human potential is unleashed upon the world, it demandsand deservesproliferation. Thiel and Masters justify monopolies, so long as the company is creating genuinely new, life-improving technologies to earn its outsize profits. Monopolies deserve their bad reputationbut only in a world where nothing changes, the authors observe. In a static world, a monopolist is just a rent collector. If you corner the market for something you can jack up the price . . . but the world we live in is dynamic: its possible to invent new and better things. Creative monopolists give customers more choices by adding entirely new categories of abundance to the world. Creative monopolies arent just good for the rest of society; theyre powerful engines for making it better.

In a 2007 essay published in an otherwise obscure Michigan State University Press anthology titled Politics and Apocalypse, Thiel characterizes contemporary Western civilization as experiencing a permanent crisis, since the illusion of the scapegoat has been exposed. The center cannot, and will not, hold. The unveiling of the mythical past, Thiel writes, opens towards a future in which we no longer believe in any of the myths. . . . [T]heir unraveling may deprive humanity of the efficacious functioning of the limited and sacred violence it needed to protect itself from unlimited and desacralized violence.

The creation of a cutting-edge company, for Thiel and Masters, should be about remaking the world.

In such a context, according to the tenets of Thielism, creativity means thinking outside the bounds and strictures of failed institutions, including academic credentials, freeing us from resentment, and opening new paths of progress, technology, and positive change. (Thiels own contribution to the anthology falls well within Thielist antiestablishment principles. He is the only contributor without a substantial academic background; he did, however, fund the 2004 conference on Girard from which the books essays are drawn.)

For Kawas, Thiels economic and social vision borders on the mystic. The real meaning of zero to one, Kawas says, is to make something new . . . the idea that were not stuck in the past. We can make something new from nothing . . . [and] that changes the nature of reality. When resentful people see the world as a zero-sum place, they start redistributing assets, assigning guilt and blame to scapegoats. Instead, Kawas explains, You can do magic. You can do tech. This is, he insists, a deeply Christian idea. (Thiel himself has frequently publicly identified as Christian, though its worth noting that there is no Christian tradition in which the provenance of creating out of nothingex nihilois not understood as the specific and unique prerogative of God, rather than a right afforded to human beings.) It rejects the blame that comes from the erroneous belief that theres no way to change the reality.

Thus, techno-capitalism-as-miracle: the notion that a few brilliant individuals can radically reshape the limits of human reality, which are revealed to be in part the product of intellectual sluggishness and moral fear. Thielism is the belief that a human being canon his way, say, to a San Francisco speakers panelconjure an idea for reshaping prestigious education in America. Old things must pass away, one way or another.

Kawas asks me if I know the biblical versea loose paraphrase of Matthew 5:23about how the kingdom of God falls on both the good and the evil. Truly, when you do the right thing, everybody benefits. Which is very similar. Sure, Kawas says, the social-justice warriors, the leftists, may carp. They may call Thiel an evil genius, a puppet master for modern illiberalism. After all, he points out, Thiel had to leave San Francisco back in 2018 for Los Angeles, to get away from all the progressives who want to blame him for their problems.

Peter, Kawas concludes, is one of the very few humanist people in the world. He believes that we can do a lot. We can afford not to die. We can go to other planets. We can make new countries. We can cure cancer. We can fix violence. And hes not a romantic about it. . . . The guy is reallyif you look at his actions, his beliefs, theyre just so insane. But hes extremely intentional about everything he ever does. Most [people] dont understand. Which does him a good servicebecause hes always running conspiracies to change the world. And the best thing you can get for someone running conspiracies is for people not to understand what hes doing.

He sighs. But you have to be scapegoated, he says.

Tara Isabella Burtons 2018 debut novel, Social Creature, was named a book of the year by the New York Times.Her new book,Strange Rites: New Religions for a Godless World, will be published this month.

Top Illustration by Garry Brown

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The Gospel According to Peter Thiel - City Journal

Ephemerisle is Burning Man on boats in the Sacramento River Delta – San Francisco Chronicle

Id just finished chopping up a watermelon with a dull hatchet on the wing of a floating platform called Siren Island when a party boat named The Entanglement motored over to offload a group of half-naked passengers.

Guests of Siren Island, a two-tiered wooden isle affixed with four spindly maple tree branches, were relaxing in the late-afternoon sun on the calm waters of the Sacramento-San Joaquin River Delta. They took turns plunging their hands into a steel basin of black lagoon mud then spreading it on one anothers skin limbs, torsos and faces. The dozen or so passengers aboard The Entanglement had spotted the action from across the channel and were eager to indulge themselves.

Permission to come aboard? one hollered.

It was about 5 p.m. on a cloudless day at the height of summer one of the last days of the annual weeklong floating festival known as Ephemerisle. The event, which just concluded its tenth year, draws a menagerie of watercraft and makeshift rafts to a remote corner of the delta for what is, depending on whom you ask, a weeklong art party, a spiritual retreat from earthbound society, a social experiment in self-governance or all of the above.

One longtime Ephemerisle-goer, Adam Katz, described it in an email: The gathering is all of the inconvenience of Burning Man, plus the risk of drowning.

At the center of Ephemerisle (pronounced eh-FEM-er-ile) was a one-of-a-kind craft, planned on land then assembled on the water and housing dozens of grungy delta campers. It was the multilevel island called Elysium, a compendium of barges, docks, platforms and pontoons all anchored and lashed together into a 3,000-square-foot Frankenmarvel of aquatic engineering. Among its amenities were an outdoor kitchen with gas grills and running water, a living room area replete with fireplace and antler mount, sleeping platforms loaded with camping tents and, to one side in a neat row, four orange portable toilets.

Off one end of Elysium, across a 20-yard floating plywood track, was a massive black tugboat covered in camping tents, the sides of its hull draped with tractor-size rubber tires. Another short dock led to a row of boats tethered in a solid floating block. There were smaller, independent islands of various forms with fun names like the Washed Up Yacht Club, DIYsland and Siren. But Elysium was the event hub, the sun around which the Ephemerisle solar system orbited.

There is no central leadership at Ephemerisle, no entry fee or sign-up sheet, and no admission tickets.

Theres this roll-up-your-sleeves, were-just-gonna-build-it attitude that shines through here, said Tom W. Bell, a law professor at Chapman University in Orange County and author who attended Ephemerisle the past two years. Its a very Silicon Valley ethos: Were just gonna do this. Its everywhere here.

The people who put together the islands arent just building a temporary respite. Many Ephemerisle participants view the event as an evolving experiment in competitive governments that could serve as proof of concept for a future in which human civilization migrates into the ocean. To them, each gathering represents an opportunity to inch toward a new vision of society.

The island of Elysium at Ephemerisle in 2019.

Early on, I was informed that the founding principles of Ephemerisle were long lost, and the only surviving rule from the events first years is the most important: No Dying.

The area of the delta where the event takes place is overseen by the U.S. Coast Guard and San Joaquin County Sheriffs Office and patrolled by local police boats. For several years including this year authorities have been called to respond to medical emergencies (in my reporting, I didnt hear about any deaths at the event), but by and large, the floating colony has maintained a strong measure of self-reliance, a trait hardcoded into the events DNA.

Ephemerisle was founded in 2009, the brainchild of an ex-Google engineer named Patri Friedman (grandson of the late Nobel Prize-winning economist Milton Friedman), as a small-scale trial run of a concept called seasteading. A year earlier, with funding from tech mogul Peter Thiel, Friedman had founded the Seasteading Institute, an advocacy and research group that consults with governments around the world on creating new jurisdictions.

Imagine a future of floating man-made island-states, each independently governed and economically self-sustained. A person could select from a range of options on where to pledge citizenship, based on their taste for that colonys philosophy and lifestyle. That was the genesis of Ephemerisle.

The original intention was: Hey, we want to make new countries on the ocean, Friedman said. That sounds really hard. What if we can find an incremental path? What if we start a festival on the ocean where people get together for a week and live under different systems?

But launching full-fledged atolls on the rollicking Pacific would have demanded a level of engineering savvy and, in Ephemerisle parlance, saltiness that participants just didnt have. So Friedman and a large group of friends settled on an out-of-the-way estuary a short drive from San Francisco where currents are chill, access is easy and boat traffic is minimal. Then they started building.

Seren JV Elston (top) and two friends aboard Siren Island at Ephemerisle in the Sacramento-San Joaquin River Delta.

Seren JV Elston (top) and two friends aboard Siren Island at Ephemerisle in the Sacramento-San Joaquin River Delta.

Seren JV Elston (top) and two friends aboard Siren Island at Ephemerisle in the Sacramento-San Joaquin River Delta.

Seren JV Elston (top) and two friends aboard Siren Island at Ephemerisle in the Sacramento-San Joaquin River Delta.

Ephemerisle festival is Burning Man on boats in the Sacramento River Delta

The learning curve was steep that first year, Friedman said. He built a small wooden pyramid out of hardware-store materials, buoyed it with empty water jugs, stuck a motor on one side, strapped on a life jacket and set sail. But there was so much drag that the thing barely moved. After a while puttering along, he got bored, tried climbing one of the pyramid pillars and flipped over.

I swam to the shore, Friedman said. I had my cell phone in a waterproof bag and called for rescue and they brought me in.

Other participants fared better, and Friedman spent the week on a houseboat. In a short video documentary of that first year, you can see glimmers of unique crafts and a community spirit taking shape. Still, the end result a collection of houseboats and some rickety wood structures was a far cry from the grandiose ideal of a floating libertarian Waterworld.

I am not entirely certain I can see the throughline between this and the ultimate end seasteading goal of independent freeholds out in international waters, Brian Doherty, an early Ephemerisle participant, said in the documentary. Seasteading, to be viable moving forward, has to have all of the aspects of a human civilization. The most important aspect of which is it has to be productive, not merely consumptive.

Friedman officially gave up on the event a year later to focus on the Seasteading Institute. But the seed had been planted, and Ephemerisle has carried on without Friedman at the helm. (He has attended for fun several times since then.)

The gathering has shape-shifted each year since, depending on who shows up and what creations they bring.

Ephemerisle founder Patri Friedman floats on a homemade pyramid raft at the inaugural Ephemerisle event in 2009.

Dubbing the event Burning Man on water wouldnt be quite fair, although there is crossover between the two communities, a similar bohemian aesthetic and a certain appeal among alternative thinkers and audacious engineers. Its less a gathering of seasoned sailors (though there are some delta rats) than a weeklong DIY raft-up of free-spirited city dwellers in funky outfits. Self-expression and its accoutrements are rampant.

Toward the end of the festival in July, I spent a day exploring the gathering on a Jet Ski. It takes place at the tip of Mandeville Point, about 15 minutes (give or take) from Korths Pirates Lair Marina, south of Isleton. Unlike the setting at Burning Man, Ephemerisle is within easy reach of civilization. While launching my boat, I spotted festivalgoers loading up on water jugs and bags of ice at a local shop. More waited for a ferry pickup from a person at the event. A small group loaded a barge with art supplies and building materials, including a small maple tree in a wooden planter box. One woman in the group planned to install it in a buoy and set it free on the delta.

Bounding through the channels, the gathering wasnt hard to spot. I throttled down to cut my wake and take in the scene.

On one motor yacht, people took turns diving off the high bulwark. A man in a small skiff cruised the channel on a gust of wind. Someone had fashioned an old RV shell into a small houseboat. On the black tugboat, a man in a Speedo played what sounded like a recorder while a shipmate on deck behind him fumbled around in a VR headset, arms outstretched. Sunbathers lazed about. Many people were napping in houseboats or below decks, avoiding the sun and recovering from the previous nights party. A long black craft called Venom Sound Ship made endless loops through the fractured colony of boats, spouting dance music.

Several people I spoke to heard about the event through the Burning Man community. Some, like Tom W. Bell, are compelled by the seasteading element. Others, like Venom Sound Ship captain Scott Rizzo, regularly appear at maritime events around California. A few stumbled upon it and were intrigued enough to stick around.

Martha Esch, a tan woman moored on the shore of the channel in her cabin cruiser, first attended Ephemerisle three years ago after learning about the gathering while attending a nearby Fourth of July fireworks show. Several young people from the Bay Area I spoke to learned about Ephemerisle via Facebook.

One foursome on a houseboat had never heard of the event but happened upon it during their vacation in the delta and wound up hanging around for the spectacle.

We have binoculars, so weve been keeping ourselves busy, said Sandy Carter, calling across the water from the rear deck of the boat, where she and three friends were sipping cocktails and playing cards. Someone had motored over to them when they arrived and explained the gist of the gathering. Most of us dont know what Burning Man means but well go home and look it up on our phones, Carter said.

About 50 yards away, a couple dove off the rear of a boat and began swimming across the channel to Elysium, where an ad hoc presentation forum was getting under way. A handful of people busied themselves preparing Siren Island to receive guests while an enormous freighter coasted across the channel just south of the gathering.

Overall, the attitude was live and let live. Some people had been living the life all week, others were new arrivals, just in time for the closing party. Boaters helped each other with building projects and resupplies and were generous with invitations to host visitors. Katz, the longtime festivalgoer, summed up the vibe to me in an email: If they came for Ephemerisle, theyre part of Ephemerisle.

Ephemerisle founder Patri Friedman.

The event in July would have felt fractured and unmoored if not for the gravitational pull of Elysium, the big island at the center of the gathering.

While most boats at the festival kept their captains and maybe a small handful of guests, Elysium was responsible for boarding and feeding dozens of campers for as long as a week. That kind of operation doesnt come together without careful planning and, above all, rules. For that, the island represented the closest embodiment of the seasteading ideal upon which Ephemerisle was founded.

To me, rules are to Ephemerisle what art is to Burning Man, Friedman said. He called the process of forming cohesive group identities and drawing parameters around acceptable conduct and behavior Ephemerisles artistic spirit.

All of those challenges thats the heart of the festival, Friedman said. Some people will get it and be enthusiastic, and some people will ignore it and party.

Tom W. Bell is the former. His book, Your Next Government?,is an account of how special jurisdictions may come to replace nation states. He has consulted on seasteading proposals in French Polynesia and elsewhere. I want to be involved in this experiment in governance, Bell said. I want to see how it happens in this highly decentralized, truly voluntary environment.

He signed up to work as a guide on Elysium at night, during party time. The basic job description: patrol the island, hand out flashlights and whistles to guests who may need them, and make sure no one hurts themselves. Its risk mitigation, he said.

Bell worked in tandem with a greeter, who walked new arrivals through initiation and presented them with documents to sign which focus in part on the importance of enthusiastic consent among people on the island and handed them a wrist band. Its really border control, Bell said. We have to protect our boundaries so no one comes and hurts the people we have there.

(I couldnt get a firmer read on the inner workings of Elysium because of one of the islands core principles: No Media.)

Previously, the area where the greeter met new arrivals was called the immigration station. Some people were questioned about consent in a way that felt like interrogation, Katz wrote in an email. It broadened the divide between islands and made some people feel very unwelcome. Elysium later dropped the immigration station name. Arrivals this year were greeted at a welcoming station.

At one point during his stay this year, Bell encountered a greeter in what looked to be a heated exchange over the islands documentation with a woman whod just arrived. He sat down to help ease the tension, patting the greeter on the back. I want them to see he has people on his side, and I say to him, Youre doing right here. Youre protecting the people who are taking the huge risks to put this place together, Bell said. After that, the woman and her partner signed the paperwork.

I dont know if that helped. But I think thats how governance works here, Bell said. Its not about goose-stepping these people off the barge. Lets do this in a gentle, sociable way."

One of the things I love about this is it plays out, on a very small scale, the issues we deal with on a national scale, Bell said. Who does government perfectly? No one. If humans are involved, its going to be a mess.

The floating festival of Ephemerisle takes place each year at Mandeville Point near Isleton in the Sacramento-San Joaquin River Delta. The festival in 2019.

A stream of dance beats flowed over the warm delta channel as The Entanglement, loaded with passengers and outfitted with a makeshift DJ booth, made its way toward Siren Island.

Boaters are taught to dock by lining up their bow parallel to the docking platform, approaching slowly, then swinging in their stern. But The Entanglement approached the low bow of Siren Island head-on, landing with a hard thud and crunch of party-boat metal grating against the islands redwood planks.

Hey! Serena JV Elston, Siren's creator, hollered at The Entanglement. She turned to me. This is the s I hate.

In no time, the boatload of partiers had hopped onto the islands flat nose, straining the ballast of the pontoons supporting Siren and causing the island to pitch and yaw. The islands wings began taking on water, house music from The Entanglement playing over the commotion.

Elston, a woman with wild wavy brown hair and wearing a blue bathing suit, turned to the small crowd, instructing them to spread out and distribute their weight. The Entanglement shifted into reverse, ripping a plank off the island with a loud crack.

OK, time for you to leave! Elston yelled to the skipper, a blond man with headphones around his neck. You dont even have bumpers, dude!

Many, if not most, Ephemerislers live full-time on land, so inter-vessel visitations can have a bumper-boats quality. Making human life happen on the water is a fundamental challenge of the event, and without proper instruction, Ephemerisle participants muddle through on messy experience.

In hosting visitors to Siren Island nonstop, Elston was keenly aware of that knowledge gap. She pointed to a cleat at my feet tangled in a thin silver chain that a visitor had attached with a small combination lock to secure his kayak. This is exactly what Im talking about, Elston said. What the f is that?

A man with curly hair named Adam replied: Its people bringing their terrestrial s with them.

People build Siren Island at Ephemerisle in the Sacramento-San Joaquin River Delta while a cargo ship passes in the background.

Whether Ephemerisle is growing or shrinking is tough to say. There are no ticket sales or census numbers, and while longtimers say there was a big drop-off several years ago when the local houseboat rental industry folded, numbers appear to have bounced back a bit. Best guess? Its roughly stable, with at least a few hundred participants each year.

In many ways, it has come to inhabit the purpose assigned by its creator: a hodgepodge of flotsam and philosophy that amasses at the same time and place each summer, with certain communities gaining strength and stability while neglected ones atrophy. It draws people who are curious and audacious enough to give themselves over to a communal experience with no central leadership. Your safety net is your neighbors.

Yes, there are glow sticks, tents, onesies, didjeridoos, psychedelics, dubstep, mohawks, fishnets, tattoo stickers, cuddle puddles, pirate flags, dreadlocks, gurus, Buddhists, DJs, Buddhist-DJs and armchair libertarians galore. Why wouldnt there be?

Theres also live improvisational music sets, collaborative art projects, ad hoc engineering solutions, presentation forums, deep conversations, communal sunset howlings, bonds forged and a constant swirl of innovative ideas and institutional wisdom.

Some people I interviewed think the spirit of Ephemerisle is dead or irrelevant, the core principles rendered moot, the excitement of venturing into unchartered waters neutralized. To others, its alive and intact, buzzing with activity and brimming with potential. But cultural phenomena are fluid and amorphous, and a persons perspective on their potency and authenticity depends on the timing and circumstances of an individuals point of entry. Whats clear is that the experience is special to everyone who goes whether thats to party or to dabble in low-level world-building.

In my short time there, I found that I was most happy when I was contributing. Hacking away at the watermelon under the warm sun on Siren Island, ferrying a friendly stranger over to Elysium, sharing information about the event with the people I encountered. Everyone had an opinion, everyone was trying to figure Ephemerisle out what it was, what it is, and what it could one day become.

***

Early on my first day at Ephemerisle, before the snafu with The Entanglement, I jet-skied over to Siren Island to say hello to Elston. Reclining on the bow was a pale, naked woman with long wavy ginger hair and gray eyes Botticellis Venus, I thought. My approach was too fast and before I could maneuver Id set the nose of my boat on a collision course with one of Sirens wings.

Thump.

A few strangers on the island shot dirty looks my way. Heat flashed into my cheeks and a pang of embarrassment wrenched my stomach. I was so clearly a newb, a kook, a landlubber so obviously not salty dead weight at an event that needs all the buoyancy it can get.

I stammered out a few quick apologies. At the bow, Venus seemed unfazed.

Eh, she shrugged. You live, you learn.

Gregory Thomas is Travel Editor at The Chronicle. Email: gthomas@sfchronicle.com. Twitter: @GregRThomas.

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Ephemerisle is Burning Man on boats in the Sacramento River Delta - San Francisco Chronicle

The Best Live Blackjack Games to Play with Friends to Beat Lockdown Boredom – Nerdcore Movement

NerdcoreMovement

NerdcoreMovement.com is your one stop destination for all things nerd, pop culture and geek related. Comic books, TV recaps and reviews, movie previews, trailers, and hot chicks reviewing video games. What more could you ask for?

In these unprecedented times, many people are searching for fun activities to do whilst locked down in their own homes and most of these involve the internet! However, if youre bored of making Tik Toks, or hosting pub quizzes for friends and family over Zoom, then why not head over to an online casino and sit around a virtual, yet live, table, and enjoy casino Blackjack at home! If that sounds like something you and your mates would be interested in whether youre novices or local brick-and-mortar regulars read on to find out about the best live Blackjack games around!

Live Quantum Blackjack

In Quantum Blackjack, the games classic rules apply, except theres a few modernised twists! In this game which is brought to you by the ever-popular gaming developers Playtech Quantum Multipliers can boost your winning when you beat the dealer with a hand containing one or more Quantum Multiplier cards.

A total of three multiplier cards which can multiply your initial wager by 3x, 5x and 10x can be in play on the table in each round. These apply only to the main bet and not to side bets, and, to make things even better, these are of no advantage to the dealer whatsoever! As soon as youve placed your bets for the up-and-coming round, up to three multiplier cards are chosen at random from the deck of digital cards. If your hand was to beat the dealers, and you have one (or more) of the multiplier cards, then your winnings are ramped up by the multiplier displayed. However, when this happens your initial bet will not be returned.

You can still, of course, place side bets in this eight-decked game and theres a vast range of bets for you to place, including pair-based bonuses focusing on identical cards, colours and numbers. The popular 21+3 side bet is also at your peril.

An unlimited number of players can play this game at once. So, grab as many of your mates as possible and try to beat the dealer, whilst hopefully enhancing your bankroll!

Live All Bets Blackjack

The classic rules apply in this Blackjack game get your cards to reach the value of 21 (or as close to as possible). You can split your hand, double down and even take insurance, if the dealers up-facing card is an Ace. However, the difference is Live All Bets Blackjack is jam-packed with several side bets five to be specific, as detailed below:

Similarly to Quantum Roulette, an unlimited amount of players can join in the fun with this game!

Of course, there are standard Blackjack tables online that you and your mates can gather around, however, make sure theres enough free seats!

So, what are you waiting for? Gather up your pals and get playing!

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The Best Live Blackjack Games to Play with Friends to Beat Lockdown Boredom - Nerdcore Movement

Blackjack Focuses On Risk Reduction Flights And Simulations To Prepare For Full Demonstration – SpaceWatch.Global

Blackjack artists concept. Image courtesy of DARPA.

In partnership with the U.S. Space Force and Space Development Agency, DARPAs Blackjack program is targeting flights to low-Earth orbit (LEO) later this year and in 2021. Using a series of small risk reduction satellites, the program aims to demonstrate advanced technology for satellite constellation autonomy and space mesh networks. Blackjack seeks to develop and validate critical elements of global high-speed autonomous networks in LEO, proving a capability that could provide the Department of Defense with highly connected, resilient, and persistent overhead coverage.

The upcoming demonstration flights are all planned as rideshares, catching a ride to LEO on a launch with other missions. The first demonstration, Mandrake 1, is a cubesat that will carry supercomputer processing chips. Mandrake 2 is a pair of small satellites that will carry optical inter-satellite links for broadband data. These could form the basis of future optically meshed computer networks in LEO.

The program also is targeting a risk reduction payload called Wildcard, a software-defined radio that will experiment with links from LEO to tactical radios. A data fusion experiment with the ability to host advanced third party algorithms, known as massless payloads, is intended for an upcoming Loft Orbital mission.

Its important that we get the design right, says Paul Rusty Thomas, the program manager for Blackjack. We focused first on buses and payloads, then the autonomous mission management system, which we call Pit Boss. We anticipate well begin integrating the first two military payloads next summer with launch via rideshare in late 2021, followed by the remainder of the Blackjack demonstration sub-constellation in 2022.

Blackjack aims to demonstrate sensors that are low in size, weight, and power, and that can be mass produced to fit on many different buses from many different providers, for less than $2 million per payload.

The agency is evaluating buses from Airbus, Blue Canyon Technologies, and Telesat, all of which have progressed through preliminary design review. The final selection of buses will happen in 2020. The program recently completed preliminary design review for Pit Boss, selecting SEAKR as the primary performer for the on-orbit autonomy system. The agency also awarded a contract to Lockheed Martin as the satellite integrator.

Several sensor payloads are under consideration for the Blackjack demonstration sub-constellation, including overhead persistent infrared (OPIR) from Collins Aerospace and Raytheon; radio frequency systems from Northrop Grumman Mission Systems, Trident, and Systems & Technology Research; position, navigation, and timing from Northrop Grumman; optical inter-satellite links from SA Photonics; and electro-optical/infrared from L3Harris. The program also recently completed a Small Business Innovation Research contract with Augustus Aerospace to work on an Army Space and Missile Defense Command-related payload.

Over the next few months, the program will run simulations to test payloads in virtual constellations of all types of missions. The goal is to show interoperability between the commoditized buses and the various payloads being considered.

We need to show the constellations can move the right amount of data and support the data fusion and command and control we want from Pit Boss, Thomas said. From there, we will start building the actual hardware. By late next spring, we will have hardware and then spend next summer focused on satellite-level qualification for launch readiness in late 2021.

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Blackjack Focuses On Risk Reduction Flights And Simulations To Prepare For Full Demonstration - SpaceWatch.Global

Southland casino to resume table games June 8 – Arkansas Times

Southland casino to resume table games June 8 - Arkansas Times

The Southland casino in West Memphis will resume some table games blackjack and carnival games but not craps and roulette on June 8.

The news release outlines various steps to guard against the transmission of disease during the coronavirus pandemic.

Key elements of the Play It Safe program for table games:

The three casinos in Arkansas were allowed to reopen May 18 at one-third capacity. The Saracen casino in Pine Bluff currently offers only slot machines. The Oaklawn casino in Hot Springs indicates on its website that table games are available, but Im checking that.

The COVID-19 pandemic is reshaping all aspects of life in Arkansas. We're interested in hearing from doctors, nurses and other health care workers; from patients and their families; from people in longterm care facilities and their families; from parents and students affected by the crisis; from people who have lost their job; from people with knowledge of workplaces or communities that aren't taking appropriate measures to slow the spread of the disease; and more.

More here:

Southland casino to resume table games June 8 - Arkansas Times

NSoft’s virtuals on EveryMatrix platform – European Gaming Industry News

Reading Time: 3 minutes

Playtech, the worlds leading gambling technology company, has partnered with Stoiximan/Betano, the leading Greek operator and one of the fastest growing in Europe, to launch an exclusive new scalable Live Blackjack variant, Cashback Blackjack Live.

Previously available as an RNG game, the new scalable Live Cashback Blackjack variant is an eight-deck game open to an unlimited number of players. In this game, players can choose to cash out during any action round instead of taking an action, placing a dynamically determined cashbackamount depending on the round. Continuing the All bets Blackjack line, Six different side bet options are available to players and add to the excitement. This unique scalable Blackjack variant is the recent addition to the growing portfolio of scalable Blackjack games available from Playtech live and marks the fifth variant after Unlimited Blackjack, Quantum Blackjack, All bets Blackjack and the recent Majority Rules Speed Blackjack.

Stoiximan/Betano chose to work directly with Playtech to produce the industry-first live dealer version of Cashback Blackjack, adding a new collaborative dimension to an already successful relationship.

About the game

Players begin by placing their main bet, plus any additional side bets.

Six different side bets are on offer: 21+3, Buster Blackjack, Dealer Pair, Lucky Lucky, Player Pair and Top 3. Buster Blackjack (dealers hand) has the biggest win potential a result of 8+ cards and players Blackjack pays out at 2000:1.

In the action rounds, players have five choices Cashback, Hit, Stand, Double or Split. If a player chooses to Split during an action round, Cashback is offered for both hands. If a player chooses to Double, Cashback is not offered. The Cashback amount is calculated based on the cards on the table and may change for each action round. Cashback only applies to the main bet, with side bets resolved and paid out separately.

Edo Haitin, CEO, Playtech Live, comments: The development of Cashback Blackjack Live has been a truly collaborative effort, and takes our partnership with Stoiximan/Betano to a new level. Stoiximan/Betano is already one of the leading operators in the Greek market, and were committed to working closely with them to not only build on this position, but also extend that success into further territories.

Thanks to a fantastic initiative from our friends at Stoiximan/Betano group and a great effort from the development teams on both sides, weve been able to deliver a dynamic new experience for players in record time, which emphasizes our strategy of equipping our partners with scalable dedicated solutions while still providing players with a fun and personal game experience. The Cashback concept is of course well-established in Sports betting, so were very interested to see how players will respond to it in a Live Casino setting, where theres interaction with a dealer and other players. Were confident players will find Cashback Blackjack Live a highly engaging experience.

Christos Mavridis, Live Casino Manager at Stoiximan/Betano adds: Product innovation, wide game offer and an optimum customer experience have always been among our priorities at Stoiximan/Betano. Weve already seen a fantastic response to Cashback Blackjack as an RNG game, so are very much looking forward to delivering a new experience for our players with the first Live version. Having worked closely with Playtech for some time now, we were well aware of their track record in producing innovative new content and game variants. As such we felt they were the ideal partner for the development of Cashback Blackjack Live, and were sure our players will be just as impressed with the finished product as we are.

About Playtech:

Founded in 1999 and premium listed on the Main Market of the London Stock Exchange, Playtech is a technology leader in the gambling and financial trading industries.

Playtech is the gambling industrys leading technology company, delivering business intelligence-driven gambling software, services, content and platform technology across the industrys most popular product verticals, including casino, live casino, sports betting, virtual sports, bingo and poker. It is the pioneer of omni-channel gambling technology through its integrated platform technology, Playtech ONE. Playtech ONE delivers data-driven marketing expertise, single wallet functionality, CRM and responsible gambling solutions across one single platform across product verticals and across retail and online.

Playtech partners with and invests in the leading brands in regulated and newly regulated markets to deliver its data-driven gambling technology across the retail and online value chain. Playtech provides its technology on a B2B basis to the industrys leading retail and online operators, land-based casino groups and government sponsored entities such as lotteries. As of June 2018, through the acquisition of Snaitech, Playtech directly owns and operates the leading sports betting and gaming brand in online and retail in Italy, Snai. Snaitech operates a B2B2C model as a service provider, allowing franchisees to utilise the Playtech technology stack in the retail environment while operating the leading brand, Snai, directly online as a B2C business.

Playtechs Financials Division, named TradeTech Group, is a technology leader in the CFD and financial trading industry and operates both on a B2B and B2C basis.

Related

Read more:

NSoft's virtuals on EveryMatrix platform - European Gaming Industry News

Blueprint Gaming’s King Kong Cash returns with Jackpot King integration – European Gaming Industry News

Reading Time: 3 minutes

Playtech, the worlds leading gambling technology company, has partnered with Stoiximan/Betano, the leading Greek operator and one of the fastest growing in Europe, to launch an exclusive new scalable Live Blackjack variant, Cashback Blackjack Live.

Previously available as an RNG game, the new scalable Live Cashback Blackjack variant is an eight-deck game open to an unlimited number of players. In this game, players can choose to cash out during any action round instead of taking an action, placing a dynamically determined cashbackamount depending on the round. Continuing the All bets Blackjack line, Six different side bet options are available to players and add to the excitement. This unique scalable Blackjack variant is the recent addition to the growing portfolio of scalable Blackjack games available from Playtech live and marks the fifth variant after Unlimited Blackjack, Quantum Blackjack, All bets Blackjack and the recent Majority Rules Speed Blackjack.

Stoiximan/Betano chose to work directly with Playtech to produce the industry-first live dealer version of Cashback Blackjack, adding a new collaborative dimension to an already successful relationship.

About the game

Players begin by placing their main bet, plus any additional side bets.

Six different side bets are on offer: 21+3, Buster Blackjack, Dealer Pair, Lucky Lucky, Player Pair and Top 3. Buster Blackjack (dealers hand) has the biggest win potential a result of 8+ cards and players Blackjack pays out at 2000:1.

In the action rounds, players have five choices Cashback, Hit, Stand, Double or Split. If a player chooses to Split during an action round, Cashback is offered for both hands. If a player chooses to Double, Cashback is not offered. The Cashback amount is calculated based on the cards on the table and may change for each action round. Cashback only applies to the main bet, with side bets resolved and paid out separately.

Edo Haitin, CEO, Playtech Live, comments: The development of Cashback Blackjack Live has been a truly collaborative effort, and takes our partnership with Stoiximan/Betano to a new level. Stoiximan/Betano is already one of the leading operators in the Greek market, and were committed to working closely with them to not only build on this position, but also extend that success into further territories.

Thanks to a fantastic initiative from our friends at Stoiximan/Betano group and a great effort from the development teams on both sides, weve been able to deliver a dynamic new experience for players in record time, which emphasizes our strategy of equipping our partners with scalable dedicated solutions while still providing players with a fun and personal game experience. The Cashback concept is of course well-established in Sports betting, so were very interested to see how players will respond to it in a Live Casino setting, where theres interaction with a dealer and other players. Were confident players will find Cashback Blackjack Live a highly engaging experience.

Christos Mavridis, Live Casino Manager at Stoiximan/Betano adds: Product innovation, wide game offer and an optimum customer experience have always been among our priorities at Stoiximan/Betano. Weve already seen a fantastic response to Cashback Blackjack as an RNG game, so are very much looking forward to delivering a new experience for our players with the first Live version. Having worked closely with Playtech for some time now, we were well aware of their track record in producing innovative new content and game variants. As such we felt they were the ideal partner for the development of Cashback Blackjack Live, and were sure our players will be just as impressed with the finished product as we are.

About Playtech:

Founded in 1999 and premium listed on the Main Market of the London Stock Exchange, Playtech is a technology leader in the gambling and financial trading industries.

Playtech is the gambling industrys leading technology company, delivering business intelligence-driven gambling software, services, content and platform technology across the industrys most popular product verticals, including casino, live casino, sports betting, virtual sports, bingo and poker. It is the pioneer of omni-channel gambling technology through its integrated platform technology, Playtech ONE. Playtech ONE delivers data-driven marketing expertise, single wallet functionality, CRM and responsible gambling solutions across one single platform across product verticals and across retail and online.

Playtech partners with and invests in the leading brands in regulated and newly regulated markets to deliver its data-driven gambling technology across the retail and online value chain. Playtech provides its technology on a B2B basis to the industrys leading retail and online operators, land-based casino groups and government sponsored entities such as lotteries. As of June 2018, through the acquisition of Snaitech, Playtech directly owns and operates the leading sports betting and gaming brand in online and retail in Italy, Snai. Snaitech operates a B2B2C model as a service provider, allowing franchisees to utilise the Playtech technology stack in the retail environment while operating the leading brand, Snai, directly online as a B2C business.

Playtechs Financials Division, named TradeTech Group, is a technology leader in the CFD and financial trading industry and operates both on a B2B and B2C basis.

Related

See the original post here:

Blueprint Gaming's King Kong Cash returns with Jackpot King integration - European Gaming Industry News

Easy Payment Gateway: Why the Gambling Sector Has Grown During the COVID-19 Crisis – European Gaming Industry News

Reading Time: 3 minutes

Playtech, the worlds leading gambling technology company, has partnered with Stoiximan/Betano, the leading Greek operator and one of the fastest growing in Europe, to launch an exclusive new scalable Live Blackjack variant, Cashback Blackjack Live.

Previously available as an RNG game, the new scalable Live Cashback Blackjack variant is an eight-deck game open to an unlimited number of players. In this game, players can choose to cash out during any action round instead of taking an action, placing a dynamically determined cashbackamount depending on the round. Continuing the All bets Blackjack line, Six different side bet options are available to players and add to the excitement. This unique scalable Blackjack variant is the recent addition to the growing portfolio of scalable Blackjack games available from Playtech live and marks the fifth variant after Unlimited Blackjack, Quantum Blackjack, All bets Blackjack and the recent Majority Rules Speed Blackjack.

Stoiximan/Betano chose to work directly with Playtech to produce the industry-first live dealer version of Cashback Blackjack, adding a new collaborative dimension to an already successful relationship.

About the game

Players begin by placing their main bet, plus any additional side bets.

Six different side bets are on offer: 21+3, Buster Blackjack, Dealer Pair, Lucky Lucky, Player Pair and Top 3. Buster Blackjack (dealers hand) has the biggest win potential a result of 8+ cards and players Blackjack pays out at 2000:1.

In the action rounds, players have five choices Cashback, Hit, Stand, Double or Split. If a player chooses to Split during an action round, Cashback is offered for both hands. If a player chooses to Double, Cashback is not offered. The Cashback amount is calculated based on the cards on the table and may change for each action round. Cashback only applies to the main bet, with side bets resolved and paid out separately.

Edo Haitin, CEO, Playtech Live, comments: The development of Cashback Blackjack Live has been a truly collaborative effort, and takes our partnership with Stoiximan/Betano to a new level. Stoiximan/Betano is already one of the leading operators in the Greek market, and were committed to working closely with them to not only build on this position, but also extend that success into further territories.

Thanks to a fantastic initiative from our friends at Stoiximan/Betano group and a great effort from the development teams on both sides, weve been able to deliver a dynamic new experience for players in record time, which emphasizes our strategy of equipping our partners with scalable dedicated solutions while still providing players with a fun and personal game experience. The Cashback concept is of course well-established in Sports betting, so were very interested to see how players will respond to it in a Live Casino setting, where theres interaction with a dealer and other players. Were confident players will find Cashback Blackjack Live a highly engaging experience.

Christos Mavridis, Live Casino Manager at Stoiximan/Betano adds: Product innovation, wide game offer and an optimum customer experience have always been among our priorities at Stoiximan/Betano. Weve already seen a fantastic response to Cashback Blackjack as an RNG game, so are very much looking forward to delivering a new experience for our players with the first Live version. Having worked closely with Playtech for some time now, we were well aware of their track record in producing innovative new content and game variants. As such we felt they were the ideal partner for the development of Cashback Blackjack Live, and were sure our players will be just as impressed with the finished product as we are.

About Playtech:

Founded in 1999 and premium listed on the Main Market of the London Stock Exchange, Playtech is a technology leader in the gambling and financial trading industries.

Playtech is the gambling industrys leading technology company, delivering business intelligence-driven gambling software, services, content and platform technology across the industrys most popular product verticals, including casino, live casino, sports betting, virtual sports, bingo and poker. It is the pioneer of omni-channel gambling technology through its integrated platform technology, Playtech ONE. Playtech ONE delivers data-driven marketing expertise, single wallet functionality, CRM and responsible gambling solutions across one single platform across product verticals and across retail and online.

Playtech partners with and invests in the leading brands in regulated and newly regulated markets to deliver its data-driven gambling technology across the retail and online value chain. Playtech provides its technology on a B2B basis to the industrys leading retail and online operators, land-based casino groups and government sponsored entities such as lotteries. As of June 2018, through the acquisition of Snaitech, Playtech directly owns and operates the leading sports betting and gaming brand in online and retail in Italy, Snai. Snaitech operates a B2B2C model as a service provider, allowing franchisees to utilise the Playtech technology stack in the retail environment while operating the leading brand, Snai, directly online as a B2C business.

Playtechs Financials Division, named TradeTech Group, is a technology leader in the CFD and financial trading industry and operates both on a B2B and B2C basis.

Related

See the article here:

Easy Payment Gateway: Why the Gambling Sector Has Grown During the COVID-19 Crisis - European Gaming Industry News

GAMING1 rolls the dice with Banca Francesa European Gaming Industry News – European Gaming Industry News

Reading Time: 3 minutes

Playtech, the worlds leading gambling technology company, has partnered with Stoiximan/Betano, the leading Greek operator and one of the fastest growing in Europe, to launch an exclusive new scalable Live Blackjack variant, Cashback Blackjack Live.

Previously available as an RNG game, the new scalable Live Cashback Blackjack variant is an eight-deck game open to an unlimited number of players. In this game, players can choose to cash out during any action round instead of taking an action, placing a dynamically determined cashbackamount depending on the round. Continuing the All bets Blackjack line, Six different side bet options are available to players and add to the excitement. This unique scalable Blackjack variant is the recent addition to the growing portfolio of scalable Blackjack games available from Playtech live and marks the fifth variant after Unlimited Blackjack, Quantum Blackjack, All bets Blackjack and the recent Majority Rules Speed Blackjack.

Stoiximan/Betano chose to work directly with Playtech to produce the industry-first live dealer version of Cashback Blackjack, adding a new collaborative dimension to an already successful relationship.

About the game

Players begin by placing their main bet, plus any additional side bets.

Six different side bets are on offer: 21+3, Buster Blackjack, Dealer Pair, Lucky Lucky, Player Pair and Top 3. Buster Blackjack (dealers hand) has the biggest win potential a result of 8+ cards and players Blackjack pays out at 2000:1.

In the action rounds, players have five choices Cashback, Hit, Stand, Double or Split. If a player chooses to Split during an action round, Cashback is offered for both hands. If a player chooses to Double, Cashback is not offered. The Cashback amount is calculated based on the cards on the table and may change for each action round. Cashback only applies to the main bet, with side bets resolved and paid out separately.

Edo Haitin, CEO, Playtech Live, comments: The development of Cashback Blackjack Live has been a truly collaborative effort, and takes our partnership with Stoiximan/Betano to a new level. Stoiximan/Betano is already one of the leading operators in the Greek market, and were committed to working closely with them to not only build on this position, but also extend that success into further territories.

Thanks to a fantastic initiative from our friends at Stoiximan/Betano group and a great effort from the development teams on both sides, weve been able to deliver a dynamic new experience for players in record time, which emphasizes our strategy of equipping our partners with scalable dedicated solutions while still providing players with a fun and personal game experience. The Cashback concept is of course well-established in Sports betting, so were very interested to see how players will respond to it in a Live Casino setting, where theres interaction with a dealer and other players. Were confident players will find Cashback Blackjack Live a highly engaging experience.

Christos Mavridis, Live Casino Manager at Stoiximan/Betano adds: Product innovation, wide game offer and an optimum customer experience have always been among our priorities at Stoiximan/Betano. Weve already seen a fantastic response to Cashback Blackjack as an RNG game, so are very much looking forward to delivering a new experience for our players with the first Live version. Having worked closely with Playtech for some time now, we were well aware of their track record in producing innovative new content and game variants. As such we felt they were the ideal partner for the development of Cashback Blackjack Live, and were sure our players will be just as impressed with the finished product as we are.

About Playtech:

Founded in 1999 and premium listed on the Main Market of the London Stock Exchange, Playtech is a technology leader in the gambling and financial trading industries.

Playtech is the gambling industrys leading technology company, delivering business intelligence-driven gambling software, services, content and platform technology across the industrys most popular product verticals, including casino, live casino, sports betting, virtual sports, bingo and poker. It is the pioneer of omni-channel gambling technology through its integrated platform technology, Playtech ONE. Playtech ONE delivers data-driven marketing expertise, single wallet functionality, CRM and responsible gambling solutions across one single platform across product verticals and across retail and online.

Playtech partners with and invests in the leading brands in regulated and newly regulated markets to deliver its data-driven gambling technology across the retail and online value chain. Playtech provides its technology on a B2B basis to the industrys leading retail and online operators, land-based casino groups and government sponsored entities such as lotteries. As of June 2018, through the acquisition of Snaitech, Playtech directly owns and operates the leading sports betting and gaming brand in online and retail in Italy, Snai. Snaitech operates a B2B2C model as a service provider, allowing franchisees to utilise the Playtech technology stack in the retail environment while operating the leading brand, Snai, directly online as a B2C business.

Playtechs Financials Division, named TradeTech Group, is a technology leader in the CFD and financial trading industry and operates both on a B2B and B2C basis.

Related

Here is the original post:

GAMING1 rolls the dice with Banca Francesa European Gaming Industry News - European Gaming Industry News

4 Pros and Cons of Gambling Online Versus at Land Based Casinos – BestUSCasinos.org

Gamblers have more options at their disposal than ever before. Long gone are the days where the only way to place a bet or play a few hands of blackjack was to visit one casino in the nearest city.

With the rise of online gambling, many have made the switch to the digital space. With that being said, casinos are still alive and well, and as purists will tell you, theres nothing quite like the real thing.

In this article, Ill outline the pros and cons of choosing physical casinos over online casinos. At the end, my hope is that youll realize both have a place in your gambling hobby.

For some, gambling is a way to make real money on the side, or even as a full-time job. The vast majority of people, however, gamble for entertainment. If a few extra dollars end up in their pocket at the end of the day, its just an added bonus.

Casinos have always been a fun place to gather. The unique atmosphere and potential for hitting it big creates an energy that is hard to replicate.

For all its nice perks and benefits, online casinos just cannot replicate the feel of the real thing.

People-watching is hard to beat, and the excitement of seeing those around you winning always brings about the feeling that you could be next.

At the end of the day, theres something to be said about being involved in the action. The lights, the sounds, the barit all adds up to an experience that you just arent going to find in your living room. When you go to the casino, you can justify losing a little more money in that you were paying for an entertaining day out at home, if you lose, its just money you no longer have.

Its important to keep in mind that you need to factor in additional expenses when you go to a physical casino that fall outside of your bankroll. If youre going to be having a meal and a couple of drinks, separate this money from what you use for gambling or youll risk throwing off your bankroll completely.

One area that online casinos seem to be lacking fast payment systems. Its not necessarily that players are getting screwed out of their winnings or anything nefarious like that, but getting paid isnt as straightforward as it should be.

Many online casinos require that players meet a certain criteria in order to get a payout. For example, some sites might not have a free cash-out process only if you wager $500. Another example might be that you must pay a fee if you get paid out more than once in a given month. Numerous other systems are out there, but these are the most common that youll encounter in online casinos.

When it comes to getting your money from a physical casino, its almost always an easy process. If youre playing games involving chips, simply cash them out and an equal exchange rate meaning you wont have to pay any fees. It is important to remember, though, that you do need to tip your dealer if youre playing a game that has one.

The biggest advantage of cashing out at the casino over online platforms is that you dont need to enter any information or allow for a delay in getting your cash. Its secure, immediate, and no risk involved.

Most online casinos are completely safe to use, but any time youre uploading your personal or bank information, theres an inherent risk attached. Not to mention, who wants to wait days (or longer) for their money to be deposited?

When you add it all up, physical casinos definitely take the victory when asking the question of who has the easier, faster, and overall better payout structure. If you want to gamble and take home your money (in cash) that same day, physical establishments are undoubtedly the best way to go.

Casinos are known for having huge areas dedicated to gamingbut they arent as big as the internet. While you may have all the classics on a casino floor, you just cant quite get all the options that are offered on online casinos.

Even the most popular games like blackjack, roulette, and slots have a number of different variations that can be found on several gambling platforms online. Physical casinos are simply limited by the space they have, vast as it may be, and cant include all of them.

Aside from space limitations, many of the games offered online provide better odds to gamblers. Whereas the casino downtown has extremely high overhead costs for staff, food, drinks, etc., digital casinos only have a few costs to keep their site running. Because of this, they can afford to offer games that take less money from gamblers while still taking in a nice profit for the house.

Most slots have a 93-94% RTP (return-to-player), but online, this number can get up to 97% and even higher than that. Simply put, physical casinos cant compete with online casinos when it comes to offering the best odds to players.

You could argue that the small differences in odds could be made up with the fees associated with cashing out, but most gamblers would agree that its still better to play games with better odds and a lower house edge.

If your sole focus is to win money and the entertainment value is much less important, online casinos are going to give you the best opportunity on a game-to-game basis.

This one is tricky, because you could argue that its harder to walk away when youre sitting in your living room gambling. However, I would argue that because you havent made the commitment of spending a day at the casino, and have other options available for things to do, it should be easier to quit while youre playing online.

One of the most important aspects of gambling discipline is knowing when to take your winnings and call it a day. Unfortunately, when youre winning over and over, it can be hard to accept that youve won enough and dont need to push your luck.

When you go to a physical casino, its a bit of a time commitment. Youve likely gathered up a few friends, driven a considerable distance, and made the decision that gambling is what youll be doing that day. So what happens when you get up $500 in your first two hours? For most players, it feels like playing with house money the rest of the day. In reality, it should mean that its time to walk away.

Managing a bankroll isnt always easy. Aside from just keeping the numbers straight, it requires a great deal of discipline to stay on track with your plan (that you hopefully have already). When youre stuck inside a casino for the next couple of hours with free money in your pocket, its a lot to ask of yourself to quit gambling.

In todays world, many things are moving online that we never could have dreamed of just 20 years ago. Its not a stretch to say that real money online gambling will surpass physical casino gambling in the near future.

This is all well and good, but I would still argue that going to your local casino (or a casino on vacation) is still one of the most fun and exciting things you can do. Just because you can wager money online doesnt mean you get the fully immersive, engaging experience a physical casino provides.

At the end of the day, it comes down to your preference. Online casinos are great, but for entertainment purposes, its hard to beat the real thing.

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4 Pros and Cons of Gambling Online Versus at Land Based Casinos - BestUSCasinos.org

The Wet AMD Gene Therapy Race – Adverum Biotechnologies Vs. Regenxbio – Seeking Alpha

Regenxbio (NASDAQ:RGNX) and Adverum (NASDAQ:ADVM) are both developing gene therapies for wet AMD. Phase I data is now available that shows both companies may have viable products. It is still very early, and small cohorts make it challenging to evaluate whether RGX-314 or ADVM-022 will be superior. Adverum's stock is priced as if it will deliver a product that is far superior to Regenxbio's. That outcome is far from certain. Investors should consider that Regenxbio's stock provides a wide margin of safety while offering tremendous upside if future data is positive.

Wet age-related macular degeneration, wet AMD, usually occurs in the elderly and accounts for 90 percent of the cases of legal blindness. In this condition, abnormal blood vessels in the retina begin to leak fluid. This results in scarring of the macula and vision loss. Symptoms include wavy, spotted or blurred vision. According to the Mayo Clinic, medications may help stop the growth of new blood vessels by blocking the effects of growth signals the body sends to generate new blood vessels. A protein called VEGF causes these abnormal blood vessels to grow. The current treatments are injections of anti-VEGF proteins into the eye which stop the growth of new blood vessels. These injections are required every four to eight weeks, and patients tend not to adhere to this difficult schedule and thus suffer vision loss.

These drugs are considered the first line treatment for all stages of wet macular degeneration. The most commonly prescribed injections are Avastin (Genentech) (OTCQX:RHHBY), Lucentis (Genentech) and Eylea (Regeneron (REGN)). A longer acting version that can last 12 weeks, brolucizumab, was approved in 2019, but it may cause occlusive retinal vasculitis, a rare but serious complication that can cause vision loss, which may make ophthalmologists hesitant to use it.

Wet AMD is a disease where the biology is well understood. More specifically, it is well understood that anti-VEGF proteins such as Avastin, Lucentis and Eylea are effective at preventing these "bad blood vessels" from growing. There is extensive proof that if you maintain anti-VEGF activity in the eye, which gene therapy seeks to achieve, you can prevent a loss of vision in wet AMD. Both Regenxbio and Adverum have gene therapy candidates in clinical trials which seek to provide a consistent level of anti-VEGF activity.

Wet AMD is not thought to be caused by a genetic defect but a one time gene therapy injection can provide a treatment option. This involves inserting a transgene, which would produce the anti-VEGF proteins, into a viral vector which can be delivered to the eye. The result is that the eye turns into a factory that produces the needed protein. Since the cells in the eye make their own protein, patients have no need or a reduced need for repeated injections. The goal is for these treatments to be durable enough to last a lifetime and reduce the enormous treatment burden of requiring frequent injections. A report in Science Daily, citing the American Academy of Ophthalmology as their source, noted that researchers believe that, "It's not just about convenience; a more consistent treatment may also help people keep more of their vision." Gene therapy seeks to achieve this by delivering a steady daily dose of anti-VEGF.

Globally, $10 billion is expected to be spent on treatments for this disorder by 2024. There are more than 1.2 million patients with wet AMD in the US and a total of 3 million globally. There is a large market opportunity for both players, but it is important to note that gene therapy is unlikely to take over the entire market as there are long acting anti-VEGF treatments in clinical trials that may also reduce the treatment burden. In addition, patients may have the option of a port delivery systems that can be refilled. Given these potential options, gene therapy may take a large market share, but it is unlikely to be one hundred percent of the market. According to Dr. Peter Campochiaro, MD, Director of the Retinal Cell and Molecular Laboratory at Johns Hopkins, who is a RGX-314 investigator, the main competitor to gene therapy will be ports.

Regenxbio has their own internal pipeline, including RGX-314 in the treatment of wet AMD. In an article published in Retina Today, Drs. Allen Ho and Robert Avery describe the nature of the treatment.

"RGX-314 is a non-replicating, recombinant AAV serotype 8 (AAV8) vector encoding for a soluble anti-VEGF Fab protein, which binds to retinal pigment epithelial cells to produce a therapeutic anti-VEGF protein. The gene encodes for an anti-VEGF fragment of an antibody that is similar to ranibuzumab."

Simply put, RGX-314 is a harmless virus which will direct the eye to produce an anti-VEGF medication, which is similar to an FDA approved drug.

Regenxbio has been using subretinal injections which require a surgical procedure in their Phase I studies to date. Going forward, they will also concurrently be testing a micro injector that targets the suprachoroidal space. This approach is being tested based on research done at Johns Hopkins that indicates that this approach, which could be done in the office, could be equally effective. From the physician and patient's standpoint, an in-office delivery would be superior to a surgical procedure.

Regenxbio is licensing the micro injector for suprachoroidal injections from Clearside Biomedical (CLSD) and will begin testing it in a Phase II trial of RGX-314. Regenxbio will be advancing both the subretinal and suprachoroidal approach into Phase II during the second half of 2020. In an article published in Molecular Therapy, researchers noted differences in the cells that have shown transduction depending on the route of administration.

"We found that suprachoroidal AAV8 delivery produced diffuse, peripheral transduction of mostly RPE, while subretinal injection using transscleral microneedles led to a robust, but localized area of gene transfer to multiple retinal cell types."

An article written by Peter Campochiaro, MD of Johns Hopkins noted that,

"Total transgene expression after a single suprachoroidal injection of AAV8 vector is comparable to that seen after subretinal injection of the same vector dose, and can be increased by multiple suprachoroidal vector injections."

This research supports that the more convenient suprachoroidal administration can be effective at producing the needed protein. Clearside Biomedical has a product through Phase 3 trials that validates the efficacy of suprachoroidal administration.

Adverum has a competing gene therapy product in the clinic. According to the company,

"ADVM-022 uses a proprietary capsid (AAV.7m8) to deliver a proprietary expression cassette which expresses aflibercept. ADVM-022 is administered as a single intravitreal injection and is designed to minimize the treatment burden of repeated anti-VEGF injections."

This gene therapy can be a straightforward one time injection which can be performed in the office. According to Dr. David Brown of Baylor College of Medicine, some studies show aflibercept is probably the best drying agent. However, intravitreal injections of AAVs can have negative side effects. Research published in the journal Molecular Therapy noted that

"Intravitreal AAV causes more intraocular inflammation and elicits a more potent humoral immune response than does subretinal administration."

This inflammation has been managed with oral and topical steroids which have not been required thus far for patients receiving RGX-314.

Regenxbio and Adverum are using different AAV's, different methods of administration and different transgenes. The transgenes used in RGX-314 and ADVM-022 differ in which anti VEGF protein they deliver. In a clinical study of 965 eyes that compared aflibercept (ADVM-022's transgene) to ranibizumab (RGX-314's transgene), they were equally effective in wet AMD. Therefore, it is likely both transgenes are equally effective.

Regenxbio has released two year data on cohorts 1-3 showing safety and efficacy as well as the durability of the treatment. They have dosed all 5 cohorts but long term data is not yet available for cohorts 4 and 5. Adverum has data out to 64 weeks for their first two cohorts and has early data on cohort 3. The last group, cohort 4, was recently dosed. These Phase I/IIa studies are two years in length so Regenxbio has the lead by at least 10 months. Should both treatments show efficacy and safety, RGX-314 is likely to be first to market.

Physicians often use a new product which is first in its class and become comfortable with the risks, benefits, side effects and administration. Unless there is a perception that other products of the same class offer a benefit, they often continue to use the first in class product. If RGX-314 proves to have a favorable profile, the first to market advantage will be significant. It should be acknowledged that gene therapy may be slightly different as these are one time administration products and physicians may wait if they believe a product (such as ADVM-022) that is coming soon will be superior.

Adverum reported that 14/17 patients have not needed rescue injections reflecting an impressive 82 percent rescue free injection rate for patients in cohorts 1-3.

For Regenxbio's cohorts 1 and 2, the dosage used appears to be suboptimal, so it is logical they would not choose these doses going forward. The doses in Cohort 3-5 appear to be more effective. Cohort 3 had 4/5 patients rescue free if you remove data from a patient who had a procedure that failed to deliver a full dosage of the drug. Another patient who initially required rescue injections but later became rescue free can be considered a responder in this cohort. Cohort 4 had 5/12 patients rescue free and cohort 5 currently has 8/11 patients rescue free. The overall rescue free rate for Regenxbio's cohorts 3-5 is 17/28 or only 61 percent.

Adverum's data is clearly better in terms of the number of patients who did not require rescue injections, 82% vs 61%. Adverum had less stringent criteria for when a rescue injection can be given - the loss of 10 letters due to fluid rather than 5 letters which Regenxbio used. Adverum previously guided that no patient would have required rescue injections had the criteria been 5 letters. If larger studies replicate these rescue free rates, it is questionable whether RGX-314 will be competitive.

Some of this differential in the percentage of patients requiring rescue injections could be due to the variability in response to anti-VEGF therapy between individual patients. Dr. Charles Wykoff of Retina Consultants of Houston commented on this variability. Dr. Wykoff noted that

"it's rare to find an individual who has no response to anti-VEGF therapy." However, "a significant number of wet AMD patients are recalcitrant," "We inject them repeatedly, but they continue to show fluid. However, that's not the same as being a 'non responder.'"

In Regenxbio's cohort, 4 only 5/12 patients were rescue free. Some of these patients may be what Dr. Wykoff calls recalcitrant in that even though they have high anti-VEGF protein levels, they still have fluid. The high protein levels in this cohort would support that these particular patients may be very difficult to "dry out." Given that the protein levels were higher in cohort 4 than 3, and cohort 3 patients had an 80 percent rescue free rate, this seems to support that patients in cohort 4 had a very high anti-VEGF demand.

Figure 1: Regenxbio Corporate Presentation

For some patients, gene therapy may be a one time solution. For others, gene therapy may be an adjunctive therapy that reduces the number of injections. The fact that some patients will still need injections will likely be a subject insurers wish to discuss when considering pricing.

Adverum has data for 3 cohorts which included a total of 21 patients at two doses. Of those twelve patients for whom there is at least one year data, only 3 of the 12 had any improvement in BCVA. Looking at the individual data for BCVA gives us a clearer picture. BCVA through December 1, 2019, for Cohort 1 was: +7, -6, -7, +5, -2, -3. BCVA for Cohort 2 was -4, -1, -19, -14, -7, +16. For patients who required very few rescue injections, this is disappointing data for visual acuity. Cohort one and two lost 2.7 and 2.8 letters, respectively, at the last update provided. Short-term results (up to 20 weeks) for cohort 3 showed an increase of 6.8 letters. The lack of individual patient data makes it hard to assess whether the general trend was an improvement in visual acuity. If you average this across all cohorts, there is approximately a 1.3 letter improvement. Cohort 2 and 3 used the same dosage but Cohort 3 used topical steroid drops rather than oral steroids so perhaps this accounts for the improvement in BCVA. Although cohort 3's data is greatly improved in comparison to cohorts 1 and 2, it remains an unanswered question whether Phase II patients will show a similar improvement in vision.

Regenxbio took the approach of 5 cohorts with increasing dosages. For cohort 3, in considering BCVA figures, it is reasonable to remove results from a patient who had a procedure error and did not receive a full dosage of the study drug. That leaves 5 patients with BCVA changes of (+32, +17, +6, +7 and +25). Cohort 4 for which Regenxbio has not released individual patient data had a BCVA improvement of +2 for the twelve patients. The lack of individual patient data makes it hard to assess whether the general trend was an improvement in visual acuity. Early data from Cohort 5 showed that responders saw a +5 letter improvement in BCVA. Combining the Regenxbio data from Cohorts 3-5, with the limitation that we don't have BCVA for those who required rescue injections in cohort 5, gives an approximately +6 letter improvement.

The general trend is that BCVA is superior for RGX-314 when compared to ADVM-022. Visual acuity data for RGX-314 more closely parallels what is seen with the standard of care treatments. Studies of the standard of care drugs such as ranibizumab (RGX-314 transgene) showed a +7.2 mean letter change in BCVA after a year. The same study found that aflibercept (ADVM-022 transgene) produced a +4.9 mean change in BCVA letter score. For context, Adverum's data on BCVA (+1.34 letters) is worse than the data from standard of care studies. Most studies show a maximum of 8-11 letter improvement for wet AMD patients treated with anti-VEGF medications. In this context, Adverum's 1.3 letter improvement is concerning.

It is also possible that some of Adverum's patients fall into the category some retinal specialists call "treatment disappointments," where the fluid is removed but patients fail to have any improvement in vision. Given the small number of patients, it is difficult to extrapolate whether this trend in visual acuity would persist in studies with a large number of patients. Another factor to be considered is that "intravitreal AAVs causes more intraocular inflammation and elicits a more potent humoral immune response than does subretinal administration." It is unknown if this inflammation has any impact on vision but cohort 3, where inflammation was managed with steroid drops, did show an improvement in visual acuity.

Another explanation for the difference in outcome in visual acuity between RGX-314 and ADVM-022 may be that "baseline BCVA is one of the strongest predictors of visual acuity gains." Specifically, patients with "the highest baseline BCVA had lowest BCVA gains." Adverum's patients across all three cohorts had a baseline mean BCVA of approximately 65.5 vs 55.7 for Regenxbio. This could partially explain a difference in gains - Adverum's patients had less to gain. However, 5 of the patients in cohorts 1 and 2 had significant vision loss (-6, -7, -19, -14, -7), and this is highly concerning. There was no patient specific data released for cohort 3, and this is also a concern as one patient with a very impressive gain can conceal the pattern of most patients losing vision. It is encouraging to see positive data for cohort 3, but it is not prudent to ignore the data from the other two cohorts.

Most studies in wet AMD for the standard of care define success as a stabilization of vision loss. However, an article published in Review of Ophthalmology written by ophthalmologists at Barnes Retina Institute of Washington University commented on the evolving goals of treatment. They wrote that "as standards for treatment success are raised, more attention should be focused on visual acuity gains as the primary endpoint." One of the outcomes sought by developers of gene therapy is to provide a continual dose of anti-VEGF therapy that results in improved vision rather than the gradual decline in vision seen in real world studies of standard of care treatments. In this context, ADVM-022's results in visual acuity fall short.

Adverum shares are trading around $20, and the company has a market cap of approximately 1.6 billion reflecting a rich valuation even considering that the company has cash on hand to fund operations through 2022. ADVM-022 is a "one hit wonder", and the company has no other products in clinical trials should ADVM-022 fail or fail to deliver an extraordinary safety and efficacy profile. The current share price of Adverum assumes a very low risk of failure for a product, which is still in Phase I/IIa trials. This valuation also reflects expectations that ADVM-022 will be a superior gene therapy treatment and capture a large percentage of the gene therapy market.

RGNX is trading around $41 and has a market cap of approximately $1.6 billion, the same market cap that Adverum has. Just as Adverum, Regenxbio has cash on hand sufficient to fund their internal pipeline costs through 2022, so dilution is not a near-term risk. Regenxbio is a much more diverse company than Adverum, and the value of their other assets is substantial. Their internal pipeline has 4 products in clinical trials, although RGX-314 has by far the greatest commercial opportunity.

In addition to an internal pipeline, Regenxbio licenses intellectual property to partners who are engaged in 26 different gene therapy programs. This revenue stream is significant and should grow with time. Novartis (NYSE:NVS) sells a gene therapy, Zolgensma, for SMA which uses one of Regenxbio's AAVs. Regenxbio reported that Novartis, which started selling Zolgensma in the second quarter of 2019, has reached $530 million in sales as of the first quarter of 2020. Regenxbio receives approximately ten percent of sales as a royalty payment. This product is likely to exceed a billion dollars in sales by 2021 and perhaps have peak sales as high as $2.5 billion annually providing a secure revenue stream for Regenxbio to pursue their internal pipeline.

Regenxbio is also investing in manufacturing which "will allow for production of NAV Technology-based vectors at scales up to 2,000 liters using REGENXBIO's platform suspension cell culture process." Manufacturing capability is a very undervalued asset considering that "Thermo Fisher paid $1.7 billion last year to buy viral vector contract manufacturer Brammer Bio" and is further investing $180 million to build a new gene therapy plant. Catalent (NYSE:CTLT) last year paid $1.2 billion for Paragon Bioservices to bolster its manufacturing capacity for gene therapies further validating the value of gene therapy manufacturing infrastructure. The licensing revenue, three other products in the pipeline and the intrinsic value of the manufacturing infrastructure provide a margin of safety if RGX-314 disappoints in clinical trials.

There are concerning aspects of both Regenxbio's data (the need for rescue injections) and Adverum's data (the poor outcomes in visual acuity). Should ADVM-022 not prove to give vision improvements, the benefit of reduced rescue injections will not be as meaningful. Wet AMD is treated to prevent blindness and to improve vision. Therefore, it is logical that vision improvement is a goal and perhaps the most important metric of all. Along a similar line of reasoning, if only 60 percent of the patients are rescue injection free, it brings into question whether physicians would administer RGX-314 if ADVM-022 provided a much greater chance of requiring no rescue injections.

Assessing early data is extremely difficult. Trends that appear in Phase I can completely disappear in Phases II and III which involve larger cohorts with a more diverse set of patient characteristics. There is a wide range of responses from individual patients to the same treatment which makes it essential to see responses in large groups. Some side effects or efficacy patterns are not revealed until after FDA approval when a medication is used in even larger patient populations. These truths highlight the difficulty of drawing conclusions based on sample sizes as small as 6 patients in a cohort. Thirty percent of drugs fail in Phase 2 further reinforcing that early data that looked very promising can be misleading when larger cohorts are studied.

In this case, it is so early that NO data is yet available in the suprachoroidal administration of RGX-314. The lack of data in this administration makes it particularly difficult to compare RGX-314 to ADVM-022. Given this would be the preferred route of administration, this data is what is most important to assess in comparison to ADVM-022. In addition, both companies are still assessing varying dosages so it is far from clear at this moment what the final product that physicians would choose from would look like.

Larger data sets will be forthcoming in the next twelve to eighteen months which will provide greater clarity about whether RGX-314, ADVM-022 or both will be viable commercial products. Investors should keep a close eye on larger data sets and critically evaluate how these products compare. Investors considering diving into the wet AMD gene therapy market should also consider the wide margin of safety that Regenxbio's more diverse pipeline, secure licensing revenue and manufacturing assets provide.

Disclosure: I am/we are long ADVM, RGNX. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Additional disclosure: This article is for information purposes only and does not constitute a recommendation to buy or sell any security.

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The Wet AMD Gene Therapy Race - Adverum Biotechnologies Vs. Regenxbio - Seeking Alpha

Loto-Quebec hit with class action suit over exposed online poker hole cards – CalvinAyre.com

Quebecs provincial gambling monopoly has been hit with a class action suit by a poker player who claims the monopolys online poker software had an Apple-sized glitch.

On June 1, a class action lawsuit was filed in Quebec Superior Court by Elisabetta Bertucci, who alleges that until the evening of May 18, 2020, Loto-Quebecs Texas Holdem poker platform had a serious defect unknown to the vast majority of players.

The suit claims that players using iPads and presumably any iOS device could see other players hole cards after a hand was complete, regardless of whether or not a player chose to expose those hole cards. As such, the suit alleges that players using non-iOS devices were at a disadvantage because they lacked the ability to see these hole cards.

Bertucci, who has been playing on the site since 2010,claims to have discovered the glitch on May 13 when she played a tournament using an iPad for the first time. Bertucci then checked out the cash games and discovered the same flaw was present.

Bertucci called Espacejeux support and claims that a technician confirmed to her that the glitch existed. But five days later, the glitch hadnt been patched, so Bertucci called back and spoke to a supervisor named Carlos, after which the glitch was patched.

On May 21, Bertucci got an email from a Loto-Quebec rep who confirmed that the incident affecting the poker hand history on OK Poker is now resolved. The agent apologized for any inconvenience Bertucci may have suffered and offered her C$15 in compensation.Bertucci refused this offer, deeming it inadequate, given that she claims to have lost nearly C$18k (US$13,300) on the site since July 2010.

The suit claims that Loto-Quebec deceived its poker players by failing to provide a secure platform that respects the integrity and rules of the game. The suit further alleges that Loto-Quebec failed to inform players of this iOS glitch and also failed to change all players user names to prevent their hand histories from being analyzed in this fashion.

Bertuccis suit notes that GVC Holdings PartyPoker site recently suffered an integrity breach and the site responded by changing the usernames of all players in order to level the playing field.

Bertuccis lawyers at LPC Avocat are inviting all individuals who until May 18 paid any sum of money to play Texas Holdem on Espace-jeux or OK Pokerto add their names to the suit. The suit seeks reimbursement of all moneys paid to play on the poker site, plus punitive damages of C$300 per player and an order forcing the platforms to allow users to change their screen-names.

A Loto-Quebec spokesperson told Le Journal de Quebec that the monopoly was aware of the allegations but declined further comment. Loto-Quebec is scheduled to release its fiscal Q4/FY2019-20 earnings report sometime in August.

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Loto-Quebec hit with class action suit over exposed online poker hole cards - CalvinAyre.com

US Live Poker Rooms Begin To Reopen With Major Changes – Legal Gambling News

The live poker scene remains dark in most U.S states, despite some casinos beginning to reopen after being closed since mid-March due to the coronavirus pandemic.

While online poker has provided an alternative avenue for players to keep doing what they love and continue chasing for tournament glory, the exciting, warm and vibrant atmosphere offered by land-based poker rooms is something players are looking forward to return to.

However, present circumstances indicate that players might have to wait much longer before they can fully compete at the live felts, as stringent restrictions are still in effect especially when it comes to mass gatherings in public venues and establishments.

In Texas though, poker rooms have started accepting customers since May, but in several other jurisdictions, live poker operators have opted to remain closed indefinitely. According to Ante Up Magazine, of the 130 poker rooms outside Texas, 111 are currently non-operational. This number does not include the states of Pennsylvania and Indiana, which still prohibit the reopening of poker rooms.

Nevada, a top destination for live poker players and fans, and home to some of the biggest, most popular and iconic poker rooms in the country, saw some of its poker rooms reopen this week, including Orleans, South Point and the Venetian, but with major changes.

In accordance with guidelines from the Nevada Gaming Control Board, the poker rooms in the state should limit the number of players at each poker table to just four (pictured). It remains unclear how this would work, but the first poker rooms to reopen said they will reduce the rake for these four-handed games.

Meanwhile, other poker venues located at Wynn and Bellagio have yet to announce any reopening plans.

There have been questions whether social distancing could actually work during poker games, and obviously, poker room owners will need to make major changes to their operations to comply with strict health and safety requirements and protocols. Players and staff should wear protective face masks while inside the premises, regular disinfection of tables and equipment must be carried out, and social distancing must be strictly observed.

In mid-May, photos of poker rooms in Florida with plexiglass dividers installed at tables made the rounds on Twitter, but many have doubted the efficacy of such barriers in preventing players from contracting the virus, knowing that they will have to eventually share cards and chips anyway, and breathe the same shared air.

However it appears some poker rooms are headed towards a similar direction, with Seminole Hard Rock Tampa, Sarasota Kennel Club and Talking Stick also operating with plexiglass dividers. Despite these restrictions, the live poker community can find comfort in knowing that the initial reopening of poker rooms have been welcomed warmly, with long queues spotted in certain locations.

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US Live Poker Rooms Begin To Reopen With Major Changes - Legal Gambling News

The hilarious story of how Phil Mickelson rigged a hand of poker against his brother – Golf Digest

Funny stories. Theyre as much a part of golf as birdies and bogeys. Through the years, Golf Digest has been lucky enough to share time with some of the legendary storytellers and characters in the game. Senior Writer Guy Yocom deserves special recognition for his My Shot series of interviews, prominent here with excerpts from other amazing features and columns through the decades.

Something youll notice: One of the most appealing qualities of good jokesters is the ability to laugh at themselves as well as with others. And the best part? Our team of writers and photographers keep adding to the comedic moments, month by month. Heres one such example below, but we have excerpted dozens of our favorite stories in the digital edition of Issue 6 of our magazine, which is available now for free. Click here for more.

Tim Mickelson: A bad bet with brother Phil, January 2016

Phil is seven years older than me, so when we played football indoors, hed level the playing fielda little. He had to play on his knees, and I got to run. He had to tackle me, and I just had to two-hand touch him. Hed hike the ball to himself, and just when Id go to touch him, hed toss the ball in the air and claim the touch didnt count because the ball was airborne. He did a lot of stuff like that. He always won.

One afternoon it was so hot outside we stayed in the houseboat. Phil had taught me how to play pokerfor moneyand all I had was a small bucket full of pennies. I left to use the bathroom, and when I came back, Phil dealt me a straight flush, king-high. I ran to my room, got the bucket and dumped the whole thing into the pot. Phil calls the bet and reveals hes got a royal flush. Imagine that. He took every penny.

Much later, he admitted hed stacked the deck when I left the room. He bought me a lot of dinners to make up for it. But he never did give me my pennies back.

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The hilarious story of how Phil Mickelson rigged a hand of poker against his brother - Golf Digest

JUST LAUNCHED Interactive Texas Hold’em Poker Quiz: Which hand wins? – European Gaming Industry News

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The world of casinos is filled with several bonuses offered for varied reasons, most of which are aimed at making sales. A bonus in itself has been proven to be one of the most significant factors for widespread patronage of casinos. In this regard, online casinos offer more bonuses than land-based casinos, primarily due to the recent surge in online casinos. Now, thousands of offshore casino sites are waiting to service the casino needs of players at every given opportunity.

While some of the bonuses offered to players are directly targeted at some classes of players, others are open to all customers of a casino site. This means that with the very nature of casino bonuses, almost every player at a casino will qualify for one or more bonuses. This leads us to the No Deposit variant of bonuses, which can be found in some casinos, but with a little effort, though.

What are No Deposit Bonuses?

No deposit bonuses are bonuses offered to players for registering an account with a casino, with which they play on real money games. Players are offered these bonuses to test their strengths and weaknesses on some games, and possibly make some cool cash while at it. No deposit bonuses are usually open to new players and are typically a reward for setting an account with a casino site. In some cases, these bonuses are up for existing players with dormant accounts, in which case, the bonuses are used to draw back their attention to the casino.

When a casino offers no deposit bonuses, they usually have some wagering requirements attached, which qualified players have to meet. As a new player, it would be in your best interest to understand the wagering requirements before taking up your no deposit bonuses.

Types of No Deposit Bonuses

Not every casino offers no deposit bonuses, but the ones that provide them typically have the following types:

No Deposit Cash Bonus

This is the most widespread and popular no deposit bonus you see at most online casinos. It is common and popular because it deals with free cash that you can use to wager for real money and eventually win. Cash bonuses awarded on registration heavily come with some wagering requirements in most online casinos.

Aside from the wagering requirements, it usually the practice for players to play on a certain number of designated games only. This means that the fee cash will not be used on some other games outside the ones so listed for the bonus.

No Deposit Free Spins

Free spins bonuses offered to players upon registering their accounts with a casino site. In most cases, the free spins are to be played on selected games by the casino site. The perk of these free spins is that you can win real money while playing them. They are either awarded via a promo code that is peculiar to you or via an open platform on the casino site.

Many online casinos offer some free spins on registration at their sites, mostly to be played on slot games. One remarkable win for players is that no deposit free spins usually have no wagering requirements for players to meet. So, you have a suitable bonus that you can win from, without any wagering requirements accompanying it!

No Deposit Time-specific Free Spins

These are free spins offered to players on the condition that they must be played or exhausted on a particular date or time. Where these are provided to players, they have to keep to the time window stipulated in the offer. Where players fail to do so, the offer will lapse, and the casino would be justified to withdraw the remaining offer, as the case may be. This offer usually has no wagering requirements attached to them.

Why You Have to Claim Your No Deposit Bonuses

The quest of every casino is to maximize profits and keep low or no rates of losses, so bonuses are a strategy to have players flooding online casinos. Suffice this to mean that when casinos offer you bonuses, that is the most direct way of giving back to you, the player. The no deposit bonus is one of the few ways that players almost put in nothing and gaining something in return. Now, that sounds like something every player should be doing anytime theres an opportunity for it.

No deposit bonuses are some of the toughest things an online casino does, because there is a 50/50 possibility that they may not win you over. So, what happens when you win and decide to leave? You guessed it right! So, you have to claim your no deposit bonuses whenever they are offered because they dont come by easily.

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