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The girl in this video turned 18 on the streets of Kensington. She smokes fentanyl off tin foil and pays for it with dates, $50 to $100 a day. Her name is Sedona. She hates every date she goes on. She says if she gets clean, she wants to be a nurse, because she likes helping people. In the video below she describes her 18th birthday. "It was just like a normal day." How did it start? She tore her ACL in a bike crash and got prescribed Percocet. When pills on the street got too expensive, she switched to dope because it was cheaper. Where's her family? Her grandma kicked her out. "I don't really have parents. They're addicts too." School? She made it to junior year. She once got three months clean. Her grandma got her into rehab, and she started playing ice hockey. She was a goalie. Two weeks before this interview, she relapsed. How else does she make money? Asking for change on the train. Stealing. On a day without a date, she makes $5 or $10. What are the men like? "Some of them are just lonely men. None of them are fun." Why does she smoke it instead of snorting? She likes the taste. The worst thing she's seen out there: someone stabbed to death. "I still think about it to this day." People on the block tell her all the time that she's too young to be there. Her three wishes: to get sober with no cravings. A ton of money. And a PC for Fortnite. She's 18, so on paper every choice is hers now. Is she a kid who never had a chance, or an adult who has to own this?

🚨🇺🇸 WOW! Jeff Bezos wants the bottom 50% of American earners to pay ZERO taxes... And he has a question for Washington: “Why is a nurse in Queens making $75,000 a year paying $1,000 a month in taxes?” Bezos argues that the bottom half of earners contribute just 3% of tax revenue anyway. His solution? Stop collecting it from them entirely. “We shouldn't be asking this nurse to send money to Washington. They should be sending her an apology.” Writer: Samuel

This Chinese newspaper from June 1944 dedicates a full page to US #FlyingTigers# Lieut. Donald Kerr: his thank-you letter and five cartoons. After his plane was hit by Japanese fire, Chinese civilians and soldiers rescued him under enemy blockade and nursed him back to health. That was a time when🇨🇳and🇺🇸fought shoulder to shoulder. Stories like this deserve to be remembered.

At midnight on February 6th, earlier this year, the doorbell to our apartment rang. The doorbell was followed by a pounding on the door. I answered the door and a security person in our building handed me his phone. It was my oldest daughter Eloise. She had found my 26-year-old daughter unconscious on the floor of her apartment and had called 911. The EMT team was already there, but they did not know what was wrong with Lucy or to which hospital they would take her. I threw on some clothes and jumped in an Uber heading east toward Brooklyn. (Lucy lived alone in Williamsburg.) On the way, I learned that they were taking her to Elmhurst, a City trauma hospital in Queens. I arrived about five minutes after the ambulance to join Eloise, Lucy’s mom, and a friend, and waited to learn what was wrong. After about 15 minutes, I asked a nurse where she was. I looked over his shoulder to his computer. Next to her name, it said “non-responsive.” I walked into the emergency room and wandered around looking for her until I found her unconscious on a gurney surrounded by several doctors and nurses. By about 2:30am with the results from a CAT scan, Lucy’s doctors had determined that she had a massive brain hemorrhage and would need an emergency hemicraniectomy to release the pressure on her brain and remove the blood from the hemorrhage. I called our wonderful friend and family doctor Eddie Fisher and explained what was going on. He woke up Josh Bederson, Chairman of Neurosurgery at Mount Sinai, to find out more about Zach Hickman, the neurosurgeon on call that night. Dr. Bederson said Hickman was an excellent surgeon, which was comforting as we had no choice. The surgery to save Lucy’s life began around 3:15am and finished around 5:30am. It was successful. The following day, I joined Lucy in an ambulance while she was being transferred to Mount Sinai on Madison Avenue. Later that day, we determined from Lucy’s Oura ring that her hemorrhage had occurred around 9am, which meant that more than 19 hours had passed from the time of the hemorrhage to the completion of the surgery to release the pressure on her brain (I only wish @ouraring had an alert for this kind of a medical event. Imagine it could call a family member if the wearer doesn’t cancel the alert). I later learned that the standard of care is not to do surgery to save a patient with a large brain bleed if more than five hours have passed since the hemorrhage. Even when the surgery is done, I was told that the likely outcome for the patient is a few months in a nursing home and death from pneumonia. When I met Lucy’s doctors, I did my best to inspire them: “Let’s see what can be accomplished if we give her the best care possible and we invest unlimited resources to restore her to life.” And I promised that whatever we learned we would make available to everyone. Dr. Chris Kellner, her neurosurgeon, and Dr. David Putrino, Director of Rehabilitation Innovation for the Mount Sinai Health System have led Lucy’s care team since that day. Words cannot describe the remarkable and compassionate care that she has received beginning with the EMT team and then from nurses, doctors, therapists, and the army of people who have worked to save her and return her to life. To this day, we have a daily Zoom where we discuss her progress and make adjustments to her care. While her care and oversight have been incredible, the learnings for the Mount Sinai team have also been elucidating and will assist in the care of many others. Lucy began in a bad place. She was in a coma for several weeks and then awoke not being able to breathe on her own, unable to walk, see or speak. Over the last six months, she has recovered her cognition – she understands everything including her circumstance – is able to walk a hundred or more steps at a time with assistance, is making progress with sounds, vowels and consonants and the beginnings of speech, but she remains unable to see. Each day, she makes a little progress, and daily progress compounds. Every day I tell her that she just needs to make a little progress and it won’t be long before she is back. We remain optimistic that Lucy will return to normal function. It will likely take years, but I believe it is only a matter of time, hard work, and technological progress, along with some, and perhaps a lot, of divine intervention. Many people have been praying for Lucy and we are incredibly grateful for the prayers and remarkable support she has received. Lucy’s friends have been with her every day since the beginning, and their presence and friendship have saved her life and helped to rebuild and maintain her spirit. And on a very positive note, Lucy’s challenge has brought together our entire modern family who have all been incredibly devoted to her care and recovery. Lucy's vision and other faculties may require some form of brain computer interface, work that is underway at Neuralink, Precision Neuroscience, Science, Synchron, Nudge, and other companies in the space. If you are going to have a devastating brain injury, now is the best time in history for that to happen. We are living in a world when you can be confident that the blind will soon see again. We are going to do everything we can to help make that happen, including by assisting existing companies in the space. With respect to our promise to make Lucy’s care available to others, we have made good progress. In May, a real estate colleague made me aware of a 93% vacant, brand new, 400,000 square foot Class A+ purpose-built biotech facility on West End Avenue between 65th and 66th Streets that missed the market and was available for sale. The Pershing Square Foundation acquired the building 60 days later. We also put under contract an adjoining 130,000 square foot building at 320 West 66th Street that is currently being used by Saturday Night Live for studio space. The building has 35-foot ceilings with massive column-free spaces that can be converted into superb rehabilitation facilities. We will close on the SNL building in December. We are also acquiring an adjoining vacant lot with additional air rights. With just the existing zoning rights, we can add a 150,000 square feet for a total of 680,000 square feet, a lab footprint larger than Rockefeller University, and that’s without including the potential for an upzoning that would allow for substantially more buildable area on the site’s 3.4 acres with spectacular views of the Hudson. Our goal is to build the world’s greatest brain research, rehabilitation, recovery, human optimization, and longevity institute. We have named it The Ackman Oxman Institute or the AOI for lack of a better name, but also to reinforce the point that Neri and I and our family are all-in on the mission. The AOI will be patient-centric. It will not be an academic research institute that produces lots of papers, a Nobel Prize winner or two, but little if any results for patients. We will be laser-focused on cures, treatments, devices, rehabilitation and exercise equipment, and targeted and basic research with a goal of massively accelerating the time from idea to innovation to production to helping a patient. While the AOI will be a non-profit, it will have highly commercial instincts. The AOI will have its own venture funding and will work to develop innovations to create companies that we will seed, assist, and spinout to ensure technologies, treatments, techniques, and drugs get to patients as promptly as possible. On one 3.4 acre campus in what is still the greatest city in the world, we will do neurosurgery, neuroscience, rehabilitation, nutrition, BCI and device development, human trials, hyperbaric oxygen treatments, and life extension programs, and we will mandate and incentivize collaboration among the teams with no silos, politics, bureaucracy, or any other constraint that is inconsistent with the mission. Mount Sinai will be an important partner and deservedly so, but it won’t be our only hospital or medical school partner as we don’t believe any institution has a monopoly on the best ideas or the best talent. We don’t believe in exclusive relationships because that is not in the best interest of patients. Five years ago, we considered launching a brain institute inspired by Neri’s mom who sadly died from Alzheimer’s. We couldn’t make the math work as the real estate was too expensive and we believed it would be too difficult to recruit the best talent from universities to our effort. Since then, the real estate became available at a 70% discount, universities became a much less attractive place to work due to politics outweighing meritocracy, protests that disrupt learning, the curse of antisemitism, and a decline in funding. Fortunately, during the same time, I made sufficient personal economic progress to make the AOI possible. The advance of AI in the last few years will also enable us to greatly accelerate our mission. AI still has a lot to learn about human intelligence and the brain, and the AOI should be at the forefront of the interplay between the brain and AI. Today, I am making a public filing disclosing a gift from Neri and me of ~$400 million or 10,000,000 shares of Pershing Square Inc. (PS) to the AOI. It is very early days for Pershing Square so these shares are intended to anchor the long-term work of the AOI as the shares compound over time while generating what we expect will be a growing stream of quarterly dividends to fund the Institute. We will also be announcing an additional gift of similar and potentially greater size which won’t be in the form of Pershing Square stock to provide the AOI with the short- and intermediate-term runway necessary to enable it to achieve its goal of becoming a self-sustaining institute, which reinvests all of its revenues, royalties, and the economic rewards of company formation to advance the fields of brain health and human longevity. Neri and I have chosen to anchor the funding of the AOI to maintain vision alignment and limit the need for the organization to focus on fundraising. We expect the AOI to be the best-resourced brain, rehab, recovery, and longevity institute in the world. We are grateful to have been able to form a board which includes Dean Kamen (our generation’s Thomas Edison), George Yancopoulus (CEO of Regeneron), James Rothman (Nobel Laureate), Bernardo Sabatini (neuroscientist), Chris Kellner (neurosurgeon), Olivia Flatto (CEO Pershing Square Foundation), Neri Oxman, and myself. We have recently identified a CEO who we expect to announce by October along with other key hires, and are beginning searches for a Chief Scientific Officer, a Chief AI/Technology Officer, a Chief Operating Officer, a Chief Financial Officer, and other key leadership roles. If you find what we are building compelling and want to be part of the leadership team that creates and builds the AOI from a standing start, please send an email to: search@aoiinst.org with a short note as to why you believe you can help. Please include your best three ideas for the AOI along with a summary of your background and your most important accomplishments. We promise strict confidentiality to those expressing interest in working with us. We have learned from Lucy that the brain can recover from even catastrophic injury. There is so much more work to be done as the mind is a terrible thing to waste. For details from my Pershing Square SEC filing see:

I have been thinking about something lately, and the more I think about it, the more disturbing it becomes. A lot of Nigerians became poor without doing anything wrong. They didn’t stop working. They didn’t become lazy. They didn’t suddenly become irresponsible. They simply woke up one day and realised that the money they had worked for could no longer buy the things it used to buy. Think about someone earning ₦100,000 a month. The person still wakes up early every morning, goes to work, puts in the same hours, probably works even harder, gets promoted occasionally and does everything society says a responsible person should do. Yet every year, that person seems to be able to afford less. At some point, ₦50,000 could buy a reasonable amount of food for the house. Today, you can enter the market with the same ₦50,000 and genuinely wonder where the money went. Nothing happened to you. The economy happened to you. And I think this is something we don’t talk about enough. Imagine working hard for years, only for circumstances completely outside your control to quietly reduce the value of everything you have worked for. You didn’t lose your job. You didn’t lose your salary. But somehow, you lost your standard of living. That is poverty too. And this is why I struggle with the way we sometimes discuss palliatives. Of course, when people are hungry, you must find ways to help them immediately. There is nothing wrong with providing temporary relief. But surely, the bigger question should be: Why did millions of working Nigerians suddenly need palliatives in the first place? If a man could comfortably buy a bag of rice from his salary a few years ago and today he needs government assistance to buy that same bag of rice, giving him rice may solve today’s hunger. But it has not solved the actual problem. The real problem is that his labour has lost value. And perhaps that is what we should be obsessed with fixing. How do we make the Nigerian worker’s income valuable again? How do we make ₦100,000 buy more next year, rather than less? How do we make food cheaper by producing more? How do we reduce the cost of energy and transportation? How do we build an economy where salaries can actually keep up with the cost of living? Because when I think deeply about it, perhaps one of the greatest things a government can do for its people is not to keep giving them money. It is to build an economy where the money they earn has value. There is dignity in being able to take care of yourself from the product of your own labour. There is dignity in a teacher being able to feed a family from teaching. There is dignity in a nurse being able to pay rent from nursing. There is dignity in a young person working an honest job and gradually seeing life improve. People should be able to look back after five years of hard work and say, “My life has become better.” Not, “I earn more money today, but somehow I can afford less.” That is the part that keeps bothering me. Millions of Nigerians are not asking to become millionaires overnight. They just want hard work to make sense again. And maybe that should be one of the simplest ways we measure whether our economy is actually working: Is the ordinary Nigerian who works hard becoming progressively better off, or progressively poorer? Everything else is secondary.