Hi there,

• Covid-19 cases are resurging as cities reopen and the US death count nears 130,000. Texas reported its highest number of new cases on Saturday since the beginning of the pandemic. New York is entering phase 3 of its reopening today: nail salons, massage centers, spa salons, tanning salons, and tattoo shops will be allowed to resume business, though the restart of indoor dining in New York City has been delayed. 
   

• Facebook's TikTok clone, Lasso, is shutting down on Friday. Its demise comes as Instagram prepares to roll out Reels, a feature that will allow users to edit short videos in their stories and potentially go viral as part of the Explore page — essentially, a TikTok-like feature. We dig into how TikTok became one of the most popular apps in the world in this report.
   

• Uber is set to buy Postmates in a $2.65B deal. Uber, whose ride-sharing business has struggled to stay afloat amid the pandemic, earlier tried to acquire Grubhub, but it was snapped up by Europe-based food delivery co Just Eat Takeaway instead.
   

• Healthcare incumbents are continuing their search for an effective coronavirus treatment. Gilead’s remdesivir was the first Covid-19 medicine to receive conditional approval from the EU. Pfizer announced that it expects to manufacture up to 100M doses of its vaccine by the end of the year. Meanwhile, Regeneron announced that its Covid-19 antibody drug is entering phase 3 trials today. Look for more news to come around Moderna’s vaccine, which is expected to enter late-stage trials this month, as well as Glaxo and Sanofi’s potential $620M deal with the UK government to distribute its Covid-19 shot. For more on major healthcare moves, we rounded up all of our latest healthcare research here.

Getcha head in the game

Berkshire Hathaway’s $10B deal to buy Dominion Energy marks its first purchase since the advent of the pandemic. 

Being greedy when others are fearful is one of Buffett’s most renowned philosophies. Check out other lessons we’ve gleaned from the Oracle of Omaha’s shareholder letters here.

Bet on it

Facebook and Google are ramping up their bets on AR/VR: Facebook released a look at its VR headset protoype, while Google acquired North, an AR glasses startup.

AR/VR isn’t the only tech that these giants are betting on. We mapped out all of big tech’s biggest acquisitions in this post.

(Don’t) stick to the status quo

As the rest of the clean tech space faces layoffs and budget cuts, vehicle electrification continues to gain traction. 

Expert Intelligence clients can read more about the future for electric vehicles in this brief.

I love you.

P.S. We have openings across our engineering, customer success, design, product, and marketing teams. Check them all out here.