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<ul class="summary-list"><li>Special purpose acquisition company <keyword id="10688672" type="UNKNOWN" weightage="60" keywordseo="tuscan-holdings">Tuscan Holdings</keyword> will merge with EV battery maker <keyword id="8351061" type="UNKNOWN" weightage="60" keywordseo="Microvast">Microvast</keyword>.</li><li>The transaction leaves the company with a combined valuation of roughly $3 billion.</li><li>"In Microvast, we have found a disruptive technology company operating in a large, addressable market with a long runway of future growth," said Stephen Vogel, CEO of Tuscan.</li></ul><p>Tuscan Holdings soared over 50% on Monday after the special purpose acquisition company announced it will merge with EV battery maker Microvast.</p><p>The deal values the combined company at roughly $3 billion and will leave the entity with $822 million in gross cash proceeds.</p><p>That cash includes a $540 million investment led by Oshkosh, BlackRock, Koch Strategic Platforms, and InterPrivate Capital, <a href="https://www.businesswire.com/news/home/20210201005283/en/Microvast-a-Leading-Innovator-of-EV-Battery-Technologies-to-List-on-Nasdaq-Through-Merger-with-Tuscan-Holdings-Corp.">according to a statement</a>.</p><p>The new company will trade in the Nasdaq under the ticker symbol "MVST."</p><p><em><strong>Read more:</strong> <a href="https://www.businessinsider.com/hedge-funds-data-reddit-tracking-wallstreetbets-tickers-gamestop-short-yolo-2021-1?utm_source=markets&amp;utm_medium=ingestgest" target="_blank" rel="noopener">How hedge funds are tracking Reddit posts to protect their portfolios after the Wall Street Bets crowd helped tank Melvin Capital's short positions</a>.</em></p><p>Microvast provides next-generation <keyword id="168461" type="TECHNOLOGY" weightage="60" keywordseo="battery-technology">battery technology</keyword> for commercial and specialty electric vehicles. The company's batteries have been integrated into almost 30,000 vehicles to date, and its proprietary intellectual property portfolio includes more than 550 patents.</p><p>Tuscan holdings, led by Stephen Vogel, had originally been in the market to merge with a cannabis company, raising $276 million in March 2019 and going public with that intention. However, with the EV boom of late, many SPACs are trying to take advantage.</p><p>From <a href="https://www.businessinsider.com/palihapitiyas-biggest-investment-climate-change-arclight-clean-transition-merge-proterra-2021-1">Chamath Palihapitiya's Arclight-Proterra merger</a> to the potential <a href="https://markets.businessinsider.com/news/stocks/churchill-capital-corp-iv-stock-rockets-lucid-motors-merger-rally-2021-1-1029999782">Churchill Capital IV-Lucid Motors merger</a>, SPACs are finding worthwhile partners in EV companies.</p><p><em><strong>Read more: </strong><a href="https://www.businessinsider.com/d1-capital-stung-amc-short-bet-reddit-traders-dan-sundheim-2021-1?utm_source=markets&amp;utm_medium=ingestgest" target="_blank" rel="noreferrer noopener">Hed</a><a href="https://www.businessinsider.com/d1-capital-stung-amc-short-bet-reddit-traders-dan-sundheim-2021-1?utm_source=markets&amp;utm_medium=ingestgest" target="_blank" rel="noreferrer noopener">ge fund phenom Dan Sundheim's D1 Capital has been stung by the AMC short bet caught up in Reddit's trading frenzy</a>.</em></p><p>"In Microvast, we have found a disruptive technology company operating in a large, addressable market with a long runway of future growth that has developed long-term competitive advantages and has established a multi-year track record of proving its capabilities," said Stephen Vogel, Chairman and CEO of Tuscan.</p><p>The deal with Microvast is expected to close sometime in the second quarter of 2021 and will see Mr. Yang Wu, CEO of Microvast, stay on to lead the combined team going forward.</p><p>One of the lead investors, InterPrivate Capital, who also managed a <keyword id="1817616" type="ORGANIZATION" weightage="60" keywordseo="SPAC">SPAC</keyword> recently signing a merger agreement with the Lidar company Aeva in November, said the combination would be ideal for Tuscan going forward.</p><p>"The Microvast team has not only developed cutting-edge battery technology that is highly attractive to its suite of market-leading customers and partners, generating over $100 million in 2020 revenue, but also operates a vertically integrated production process for its battery solutions that is unique in the industry, enabling both enhanced customer service and the opportunity to achieve excellent margins," said Ahmed Fattouh, CEO of InterPrivate Capital.</p><p>Shares of Tuscan Holdings traded up 53.77% at $24.08 as of Monday's close.</p>

Tuscan Holdings soars 53% after the blank-check company announces merger with battery maker Microvast

<ul class="summary-list"><li><a href="https://tuscanhighlandslasvegas.com/apartment/">Tuscan Highlands</a>, a resort-like <keyword id="6362656" type="UNKNOWN" weightage="60" keywordseo="apartment">apartment</keyword> complex in <keyword id="2390" type="COMPANY" weightage="60" keywordseo="Las-Vegas">Las Vegas</keyword>, is opening an <keyword id="2440542" type="PERSON" weightage="60" keywordseo="eSports">esports</keyword> <keyword id="6357332" type="UNKNOWN" weightage="60" keywordseo="Gaming">gaming</keyword> lounge.</li><li>The lounge is set up to open in July with VR, arcade games, and plans for holding tournaments.</li><li>The developer says this esports lounge and arena is the first of its kind in a US apartment complex.</li></ul><p>Most sports are on COVID-19 related hiatuses, but <a href="https://variety.com/2020/digital/features/esports-coronavirus-traditional-sports-league-of-legends-call-of-duty-1234573561/">esports are seeing a jump</a> in interest as other entertainment options aren't available.</p><p>Tuscan Highlands, a new apartment complex designed to replicate the resort experience, might be able to take advantage of this newfound interest in esports when its 4,500 square foot esports lounge opens later this summer.</p><p>Developer Bob Schulman told Business Insider that over the course of developing this property, he went from not know what esports were to "there'll be no place equal to us," noting that Tuscan Highlands will have the first esports arena on this scale in a US apartment complex. </p><h2>A game for everyone</h2><p><div type="image" title="Tuscan Highlands" height="781" width="1042" msid="76595718" hostid="261"></div></p><p>Milo Ocampo, an esports expert who consulted on the lounge, told Business Insider that it's designed to appeal both to professional and casual gamers. The lounge has 12 computer stations with seven-foot by 11-foot HD LED displays, a virtual reality sports simulator with a 15-foot by 9-foot display for golf, soccer, and hockey, plus individual gaming stations equipped with Nintendo <keyword id="132027" type="ENTERTAINMENT" weightage="60" keywordseo="Switch">Switch</keyword>, <keyword id="6532" type="COMPANY" weightage="60" keywordseo="Playstation">PlayStation</keyword> 4, and Xbox One devices.</p><p>For more old-fashioned gamers, there is also a collection of traditional arcade games. A YouTube and podcasting studio is attached, too. There are even special gaming chairs with adjustable height and reclining levels and a built-in headrest. Shulman told Business Insider that when it comes to esports, every aspect matters because games can come down to "split-second timing."</p><p>The lounge is scheduled to open in July, with plans to hold esports tournaments with rewards and educational events. "The esports lounge will feature events held by pro players, run education panels, and let residents interact with influencers and future influencers," Ocampo said. </p><p><div type="image" title="Tuscan Highlands" height="787" width="1049" msid="76595727" hostid="261"></div></p><p>Shulman said he asked himself, "How can I create an amenity that will drive people to be together for extended periods of time?" This question eventually resulted in a 10,000 square foot multiform space, consisting of an esports lounge, bar and restaurant, and wine garden. </p><p>He brought in Ocampo, who has his own esports startup and gave him a list of things he needed to know to create the lounge, including demographics and analytics on esports. This first meeting was in July 2019, and the whole project has taken about a year to come to fruition. </p><p>Despite his predictions for the success of the lounge, Shulman doesn't think this will become a trend in other <keyword id="6354553" type="COMPANY" weightage="60" keywordseo="real-estate">real estate</keyword> developments.</p><p>"More likely, we'll see people want to do bars and restaurants and add esports," he said. "It's very difficult to do."</p><p>He sees esports as a growing industry, but creating a lounge of this scale in an apartment community is out of reach for most developments. "People won't know how to do it," he told Business Insider. </p><h2>An esports lounge in the COVID era</h2><p><div type="image" title="Tuscan Highlands" height="898" width="1197" msid="76595735" hostid="261"></div></p><p> COVID-19 and social distancing guidelines haven't derailed plans for the esports lounge, according to Shulman. "We're lucky because we created this very large space that's not open to the public," he told Business Insider.</p><p>He explained that tables and chairs in the lounge were built to accommodate social distancing, with only minor changes. Gaming stations are separated by acrylic partitions, that have UV self-cleaning abilities. "Even when COVID is gone, we won't need to add furniture," Shulman said.  </p><h2>Esports is poised for huge growth</h2><p>Though not exactly mainstream yet, esports have made huge leaps in the past few years. Groups of professional gamers compete in live tournaments on games like "Fortnite" and "FIFA." Esports had 454 million global viewers in 2019, and the industry is on track to double viewership over six years, according to a December report by <a href="https://www.businessinsider.com/esports-ecosystem-market-report">Business Insider Intelligence</a>. </p><p>The industry has also attracted growing investments from venture capital, jumping from just under $500 million in 2017 to $4.5 billion in 2018, an <a href="https://www.businessinsider.com/esports-ecosystem-market-report">increase of 837%.</a> Experts credit much of this growth to the "pop-culturization of esports," including the social aspect of streaming platforms like Twitch, which allow fans to feel connected to gamers.</p><p>Some esports organizations have also moved into selling merchandise and expanded beyond a niche fanbase. "It's essential to think of the esports opportunity in this way — one inclusive of gaming, media, pop culture, and commerce — as it shines a light on opportunities beyond gaming events alone" Rick Yang, a partner at a venture capital firm that invests in esports, told <a href="https://www.businessinsider.com/esports-ecosystem-market-report">Business Insider Intelligence.</a></p><p>For Ocampo, the coronavirus has pushed esports into the spotlight. As he sees it, the lounge will likely initially attract gamers and influencers between 18 and 32 years old, but the audience is growing.</p><p>"People who gave esports a chance during the pandemic aren't going to go away when it's over," he said.</p><p>However, even virtual sports have been impacted by the coronavirus. Cancellations and postponed tournaments will hurt the industry's earnings this year, which were once predicted to top <a href="https://www.businessinsider.com/gaming-industry-hit-by-coronavirus-as-tournaments-cancelled-2020-3">$1 billion dollars</a> in 2020. </p>

A Las Vegas apartment complex added an esports lounge as an amenity and says its the first of its kind in the US — see inside

<ul class="summary-list"><li><keyword id="191583" type="PERSON" weightage="60" keywordseo="Jeff-Bezos">Jeff Bezos</keyword>' old <keyword id="18635" type="CITY" weightage="60" keywordseo="Amazon">Amazon</keyword> review profile has been unearthed by <a href="https://www.inc.com/bill-murphy-jr/i-just-found-everything-jeff-bezos-has-ever-reviewed-on-amazon-its-utterly-fascinating.html">Inc. </a>magazine.</li><li>It contains six reviews from between 2000 and 2006.</li><li>Over a period of six years, Bezos reviewed non-fiction books, a novel, a movie, binoculars, and milk.</li></ul><p>Most people know Jeff Bezos as the richest person in the world - but he also happens to be <a href="https://www.amazon.com/gp/profile/amzn1.account.AHDRLTPKOLOHOHLVQ7U7TVCRPW7A/ref=cm_cr_srp_d_gw_btm?ie=UTF8&amp;tag=wwwinccom-20m-20">Amazon's 78,951,609th-ranked reviewer</a>.</p><p>Thanks to an investigation by <a href="https://www.inc.com/bill-murphy-jr/i-just-found-everything-jeff-bezos-has-ever-reviewed-on-amazon-its-utterly-fascinating.html">Inc. contributing editor Billy Murphy Jr,</a> Bezos' old review profile has been unearthed. </p><p>It contains six reviews from between 2000 and 2006 and offers an entertaining insight into the mind and buying habits of Amazon's founder and outgoing CEO from before he was a multi-billionaire.</p><p>An Amazon spokesperson confirmed that it was Bezos's own profile and the reviews are his.</p><p><em><strong>Read more: </strong><a href="https://www.businessinsider.com/amazon-ceo-jeff-bezos-responds-to-employee-questions-about-new-job-2021-4">Jeff Bezos responds to employee question about his resignation as CEO, says Amazon can 'out-survive any individual in the company, including, of course, myself'</a></em></p><p>All six of the reviews are generously ranked with five stars - the highest score possible. Over a period of six years, Bezos offered his thoughts on non-fiction books, a science fiction novel, an award-winning movie, binoculars, and milk.</p><p>Below are all of the reviews in chronological order of publishing. </p><h2>1. "Life is Beautiful" review:</h2><div type="image" title="Jeff Bezos reviews &quot;Life is Beautiful&quot;" height="359" width="479" msid="82480268" hostid="261"></div><p>Bezos wrote a review for the 1997 movie "Life Is Beautiful," on March 17, 2020. He called the Oscar winner a "masterpiece."<br /><br />The review reads: "This movie is absolutely all it's cracked up to be. Hysterically funny and simultaneously a tear-jerker - it's ultimately very uplifting. The cinematography is also fantastic - amazing use of color.<br /><br />"The DVD has dubbed English as an option, but I strongly recommend going with the subtitles instead so you can hear Benigni's amazing acting and passion.<br /><br />Too bad the DVD doesn't include any deleted scenes. With Benigni, I think it would be particularly fun to see out-takes. Absolutely a great movie!"</p><h2 id="title">2. Canon 18x50 Image Stabilization All-Weather Binoculars review:</h2><div type="image" title="Jeff Bezos reviews Canon binoculars" height="357" width="541" msid="82480269" hostid="261"></div><p>In September of 2000, the Amazon founder shared his thoughts on the "best binoculars" he'd ever used.<br /><br />He wrote: "The problem with high power binoculars is that humans can't hold them steady, and that jitter makes it impossible to really look at something without a tripod.<br /><br />"The image stabilization in this pair solves that problem and holds things rock steady. This is an expensive product that clearly distinguishes itself, and one of those products that <keyword id="6355118" type="UNKNOWN" weightage="100" keywordseo="technology">technology</keyword> makes seem a little magic.<br /><br />"I have only two small complaints: First, for a product this expensive they should pre-install the neck strap for you -- not a big deal, but it would be nice for the customer. Second, I wish the lens cap covers were higher quality and attachable to the unit so they wouldn't get lost. Again, not a big deal.<br /><br />These are without a doubt the best binoculars I've ever used."</p><p>This was his most popular review, with 136 people voting it "helpful."</p><h2>3. "The Proving Ground: The Inside Story of the 1998 Sydney to Hobart Race" review:</h2><div type="image" title="Jeff Bezos reviews &quot;The Proving Ground: The Inside Story of the 1998 Sydney to Hobart Race.&quot;" height="358" width="551" msid="82480270" hostid="261"></div><p>Bezos reviewed a book of eyewitness accounts about how the 1998 Sydney to Hobart race became one of the most disastrous sailing events in modern history.</p><p>The review reads: "This book is about people - an incredibly interesting assortment of determined, competitive people thrust into a circumstance more challenging and dangerous than any of them expected.</p><p>Bruce Knecht captures acts of heroism and frailty, but, in a display of astonishing writerly discipline, he never judges these people. Judging these strong people would inevitably over-simplify the reality of human behavior under life-threatening stress. The way Knecht does it, as we read, we get to wonder how we would react."</p><h2>4. "Project Orion: The True Story of the Atomic Spaceship" review:</h2><div type="image" title="Jeff Bezos reviews &quot;Project Orion: The True Story of the Atomic Spaceship&quot;" height="356" width="548" msid="82480271" hostid="261"></div><p>A book about a study of a starship intended to be propelled by explosions of atomic bombs appealed to the billionaire's "dream" of visiting space.</p><p>In April 2002, he wrote: "For those of us who dream of visiting the outer planets, seeing Saturn's rings up close without the intermediation of telescopes or charge-coupled devices, well, we pretty much *have* to read "Project Orion."</p><p>"In 1958, some of the world's smartest people, including famous physicist Freeman Dyson (the author's father), expected to visit the outer planets in "Orion," a nuclear-bomb propelled ship big enough and powerful enough to seat its passengers in lazy-boy recliners. They expected to start their grand tour by 1970. This was not pie-in-the-sky optimism; they had strong technical reasons for believing they could do it.</p><p>To pull this book together, George Dyson did an astonishing amount of research into this still largely classified project. And, maybe because he's connected to Orion through his father, the author captures the strong emotion of the project and the team. Highly recommended."</p><h2>5. "Down and Out in the Magic Kingdom" review:</h2><div type="image" title="Jeff Bezos reviews &quot;Down and Out in the Magic Kingdom&quot;" height="362" width="483" msid="82480274" hostid="261"></div><p>In 2003, Bezos gushed about a 2004 science fiction book. The novel takes place in the 22nd century, mostly in Walt Disney World.</p><p>After quoting Star Trek, the Amazon founder praised the book effusively. He wrote: "In this fun, fast book, the clearly talented Cory Doctorow explores a full-on reputation economy. With the help of a sophisticated, real-time network, people accumulate and lose a reputation currency called "whuffie."</p><p>"The ideas are an incredibly rich playground, and the author doesn't make you suffer through flat characters or clunky prose to get to them. On the contrary, these are totally alive characters set in a deeply conjured world (which world is Disney World, a place you can feel the author's passion for).</p><p>"By the end, you'll know the characters well enough to be able to judge what impact this new world has -- or doesn't have -- on the fundamentals of human nature.</p><p>Cory Doctorow deserves much whuffie for this novel. Highly recommended."</p><p>Despite receiving praises from Bezos, author Cory Doctorow has been consistently vocal of his criticism of Amazon on his Twitter.</p><h2>6. "Tuscan Dairy Whole Vitamin D Milk" review:</h2><div type="image" title="Jeff Bezos' review of milk on his public profile" height="337" width="540" msid="82480276" hostid="261"></div><p>After a three-year hiatus from posting reviews, Bezos returned in 2006 to confess his love for vitamin-enhanced milk.</p><p>He wrote: "I love milk so much that I've been drinking it since the day I was born. I don't think it was Tuscan though."</p>

Before Jeff Bezos became the richest person on the planet, he used to write entertaining Amazon reviews. Read them here.

<p><strong><em>Welcome to <keyword id="9884466" type="UNKNOWN" weightage="60" keywordseo="insider-cannabis">Insider Cannabis</keyword>, our weekly newsletter where we're bringing you an inside look at the deals, trends, and personalities driving the multibillion-dollar global <keyword id="14728" type="ENTERTAINMENT" weightage="100" keywordseo="cannabis">cannabis</keyword> boom.</em></strong></p><p><strong><em><a href="http://newsletter.businessinsider.com/join/cultivated">Sign up here to get it in your inbox every week</a>.</em></strong></p><p>Happy Friday readers,</p><p>This week, the cannabis industry's news cycle was dominated by Jazz Pharmaceuticals' $7.2 billion acquisition of GW Pharma.</p><p>I'll admit - the deal took me by surprise. I had long expected the oft-predicted pharmaceutical incursion into cannabis, but I didn't expect a neuroscience-focused company like Jazz to spend $7.2 billion, and not to mention, a 50% premium on GW's share price to close the deal.</p><p>You can <a href="https://www.businessinsider.com/jazz-pharmaceuticals-will-acquire-cbd-drugmaker-gw-pharma-for-72-billion-2021-2">read our report on the deal here</a>, outlining GW's 20-year path from upstart to getting the first (and still only) CBD-based drug approved by the FDA.</p><p>What else?</p><p>Lawmakers in Virginia and New Mexico are marching quickly toward legalization as New Jersey stalls. Progressive New York lawmakers savaged Gov. Cuomo's legalization plan and pledged to flex the state legislature's Democratic supermajority to propose their own plan that puts social justice and equity aims first.</p><p><em>-Jeremy (<a href="https://twitter.com/jfberke?lang=en">@jfberke</a>) and Yeji (<a href="https://twitter.com/jesse_yeji?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Eauthor">@jesse_yeji</a>)</em></p><p><strong><em>Here's what we wrote about this week:</em></strong></p><h3><a href="https://www.businessinsider.com/jazz-pharmaceuticals-will-acquire-cbd-drugmaker-gw-pharma-for-72-billion-2021-2"><strong>A biotech known for its sleep and brain drugs just made a $7.2 billion bet that medical cannabis is crucial to its neuroscience ambitions</strong></a></h3><p>Jazz Pharmaceuticals is making a $7.2 billion bet on the future of medical cannabis. The drugmaker said on Wednesday it will acquire GW Pharma, the maker of CBD-based epilepsy treatment Epidiolex, in a cash-and-stock deal. It's the largest cannabis-industry deal so far. </p><h3><a href="https://www.businessinsider.com/cannabis-industry-predictions-from-top-investors-2021-1"><strong>17 top cannabis investors lay out how the spread of legal marijuana will fuel a deal boom and drive investment in the upstart industry</strong></a></h3><p>We asked 17 of the <a href="https://www.businessinsider.com/top-16-cannabis-venture-capital-funds-in-2020-and-where-they-invested-2020-12">top cannabis-industry investors</a> for their 2021 predictions. They said they expect more states to legalize <keyword id="40905" type="PERSON" weightage="60" keywordseo="Marijuana">marijuana</keyword>, a boom in dealmaking, and the return of investor confidence in the industry, among other predictions. </p><h3><a href="https://www.businessinsider.com/list-top-psychedelics-companies-by-funding-2021"><strong>Meet the top 14 psychedelics startups raising the most cash to develop new ways of treating depression, addiction, and more</strong></a></h3><p>Insider identified the top 14 startups that are working to turn <keyword id="2874738" type="PERSON" weightage="60" keywordseo="Psychedelics">psychedelics</keyword> into approved medicines for conditions like depression, opioid use disorder, and anxiety. To put together this article, we reached out to companies on <a href="https://www.businessinsider.com/how-much-top-psychedelics-startups-have-raised-atai-compass-mindmed-2020-3">our list from last year</a>, used data provided by PitchBook, and talked to VCs in the space.</p><p>The 14 private companies on this list alone raised over $222 million in 2020. Some told Insider that they're preparing to go public.</p><h2>Executive Moves</h2><ul><li>Tilray's chief corporate development officer, Andrew Pucher, will step down from his role as of March 31, according to securities filings. <a href="https://www.businessinsider.com/tilray-aphria-ceo-interview-explain-merger-strategy-strategic-partner-2020-12">Tilray merged with Aphria in December</a>. </li><li>Tom Grillea is <a href="https://www.globenewswire.com/news-release/2021/02/01/2167563/0/en/HERBL-California-s-Largest-Cannabis-Distributor-and-Supply-Chain-Solutions-Company-Appoints-Tom-Grillea-as-CRO.html">joining California cannabis distributor HERBL</a> as chief revenue officer. Grillea was formerly the CEO of Threshold Enterprises, a dietary supplements distributors.</li><li>Organigram Holdings <a href="https://www.businesswire.com/news/home/20210202005704/en/Organigram-Announces-Executive-Changes">announced on Tuesday</a> that Matt Rogers, SVP of operations, will be leaving the company at the end of May 2021.</li><li>Psilocybin company CannaGlobal announced on Monday it is rebranding its name to GoodCap Wellness and made <a href="https://www.businesswire.com/news/home/20210201005839/en/CannaGlobal-Appoints-World-Class-Board-and-Announces-Rebranding-to-GoodCap-Wellness">a slew of new board appointments</a>. </li></ul><h2>Deals, launches, and IPOs</h2><ul><li>Tuscan Holdings, originally a cannabis-focused SPAC, announced that it would merge with <a href="https://www.businesswire.com/news/home/20210201005283/en/Microvast-a-Leading-Innovator-of-EV-Battery-Technologies-to-List-on-Nasdaq-Through-Merger-with-Tuscan-Holdings-Corp.">EV battery maker Microvast</a>. Read our <a href="https://www.businessinsider.com/investors-poured-3-billion-into-cannabis-spacs-deadlines-loom-2020-12">explainer of the cannabis SPAC landscape here</a>.</li><li>Bexson Biomedical, an early-stage startup working on developing ketamine-based drugs for pain management, closed a $4.8 million Series A led by Noetic Psychedelic Fund. </li><li>Cannabis marketing platform Springbig <a href="https://www.prnewswire.com/news-releases/springbig-acquires-budtender-leading-cannabis-customer-experience-and-retention-platform-301219373.html">announced on Tuesday</a> that it acquired Canadian cannabis tech company BudTender. The companies did not disclose the financial terms of the transaction. </li><li>Jazz Pharmaceuticals <a href="https://www.businessinsider.com/jazz-pharmaceuticals-will-acquire-cbd-drugmaker-gw-pharma-for-72-billion-2021-2">acquired cannabis drugmaker GW Pharmaceuticals</a> in a $7.2 billion deal. The purchase price represents a 50% premium on GW's Tuesday close. </li><li>US cannabis company Green Thumb Industries <a href="https://seekingalpha.com/filing/5337430?source=email_2950:headline&amp;utm_medium=email&amp;utm_source=seeking_alpha&amp;mail_subject=gtbif-green-thumb-industries-inc-sec-filing-securities-registration-statement-s-1-a-february-02-2021&amp;utm_campaign=rta-stock-filings&amp;utm_content=link-1p;utm_content=link-1">filed an S-1</a> with the Securities and Exchange Commission, in preparation for an uplisting to a major US Exchange. </li></ul><h2>Policy moves</h2><ul><li>Senate Majority Leader Chuck Schumer, Sen. Cory Booker, and Sen, Ron Wyden <a href="https://www.finance.senate.gov/ranking-members-news/-booker-wyden-schumer-joint-statement-on-cannabis-reform-legislation">released a joint statement</a> pledging to release a draft discussion of a comprehensive cannabis reform bill that puts restorative justice and public health first. It's the first concrete step Senate Democrats have taken on cannabis reform.</li><li>New Mexico lawmakers <a href="https://www.marijuanamoment.net/new-mexico-senators-file-two-marijuana-legalization-bills-with-more-on-the-way/">filed two separate marijuana legalization bills</a> this week. Some lawmakers expect a third bill, addressing social equity issues, to be filed this month as well. </li><li>Virginia lawmakers are <a href="https://www.washingtonpost.com/local/virginia-politics/virginia-marijuana-legalization/2021/02/04/8d6fc33e-6707-11eb-8c64-9595888caa15_story.html" target="_blank" rel="noopener noreferrer">voting today on a bill that would legalize marijuana</a> in the state, becoming the first formerly Confederate state to do so. Gov. Ralph Northam has said legalizing marijuana is a priority for his administration. </li><li>Oregon state representatives introduced the <a href="https://www.prnewswire.com/news-releases/cannabis-social-equity-bill-introduced-301221494.html">Cannabis Equity Act into the state's legislature</a>. The bill, if passed, would provide a free, automatic expungement process and would divert cannabis tax revenue to invest in housing, job training, child care, and health for Black, Latinx, and Indigenous people.  </li></ul><h2>Science and research</h2><ul><li>Recreational marijuana legalization is not associated with a rise in adolescent substance abuse disorder, according to <a href="https://pubmed.ncbi.nlm.nih.gov/33509417/">new research published in the </a><em><a href="https://pubmed.ncbi.nlm.nih.gov/33509417/">Journal of Substance Abuse Treatment</a>. </em></li><li>A new study published in the <em><a href="https://www.tandfonline.com/doi/abs/10.1080/02791072.2020.1870778">Journal of Psychoactive Drugs</a></em> found that cannabis consumers tend to choose different products depending on their age. Older consumers are less likely to use products like pre-rolled joints, vape pens, edibles, and concentrates when compared with younger users. </li><li>A new <a href="https://www.cato.org/policy-analysis/effect-state-marijuana-legalizations-2021-update">report from the Cato Institute</a>, led by Harvard economist Jeffrey Miron, found that state marijuana legalization generally had "minor effects" on issues like adolescent use, traffic safety, crime, and more. The authors note that "the strong claims made by both advocates and critics are substantially overstated and in some cases entirely without support from existing legalizations." </li></ul><h2>Earnings preview</h2><p>It's earnings season starting next week. We have the Canadian LPs on tap, and then the US companies will start reporting the week after: </p><ul><li><a href="https://produceredition.webcasts.com/starthere.jsp?ei=1418491&amp;tp_key=44498b61836183">Canopy Growth</a> will report its Q3 earnings next Tuesday (Feb 9). The call will be at 10 am ET.</li><li><a href="https://produceredition.webcasts.com/starthere.jsp?ei=1420788&amp;tp_key=9086023c9b3c9b">Canopy Rivers</a> will report its Q3 earnings next Wednesday (Feb 10). The call will be at 9 am ET.</li><li><a href="https://viavid.webcasts.com/starthere.jsp?ei=1425319&amp;tp_key=ab9992fd57fd57">Aurora Cannabis</a> will report its Q2 earnings next Thursday (Feb 11). The call will be at 5 pm ET.</li><li>MedMen and Green Thumb Industries will be holding earnings the week afterward.</li></ul><h2>Chart of the week</h2><p>Hemp-derived CBD sales are expected to increase threefold between 2020 and 2025, according to Nielsen and Hemp Industry Daily. The predicted increase is in part due to the increasing popularity of CBD as a dietary supplement and the likelihood of favorable guidance from the FDA and Congress:</p><div type="image" title="Annual hemp-derived CBD retail sales estimates" height="1040" width="1240" msid="80712858" hostid="261"></div><h2>What we're reading</h2><p><a href="https://www.bloomberg.com/news/articles/2021-02-01/new-york-is-trying-to-model-social-reform-through-pot-taxes">N.Y.'s Soon-to-Be Legal Pot Stirs Debate on Taxes, Social Reform</a> (Bloomberg)</p><p><a href="https://www.nytimes.com/2021/01/29/world/canada/canada-marijuana-legalized-impact.html">After Newness Fades, Canada Settles Down to Legal Marijuana</a> (The New York Times)</p><p><a href="https://www.politico.com/news/2021/01/31/marijuana-policy-democrats-senate-463816">'There's no stopping the industry now': Democratic control is a big win for marijuana</a> (Politico)</p><p><a href="https://nypost-com.cdn.ampproject.org/c/s/nypost.com/2021/01/28/cannabis-dispensaries-linked-to-21-drop-in-opioid-deaths-study/amp/">Cannabis dispensaries linked to nearly 30% drop in opioid deaths: study</a> (The New York Post)</p><p><a href="https://www.nj.com/marijuana/2021/02/nj-was-going-to-get-legal-weed-just-after-murphy-took-office-right-how-the-effort-has-sputtered-for-3-years-now.html">N.J. was going to get legal weed just after Murphy took office, right? How the effort has sputtered for 3 years now.</a> (NJ.com)</p><p><a href="https://www.kansascity.com/news/politics-government/article248919684.html">Kansas governor proposes paying for Medicaid expansion through legalizing medical marijuana</a> (The Kansas City Star)</p><p><a href="https://www.usatoday.com/story/sports/nba/columnist/jeff-zillgitt/2021/02/03/nba-should-take-marijuana-off-its-list-banned-substances/4361014001/">Opinion: NBA needs to permanently abolish marijuana testing</a> (USA Today)</p>

A biotech makes a $7.2 billion bet on medical marijuana

<p><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"><p class="source"><span>Tesla</span></p><p class="caption">Tesla CEO Elon Musk holds the company's tuscan solar roof tile.</p></div><p></p></div></div>With so much fanfare surrounding <a href="http://www.businessinsider.com/how-buy-tesla-model-3-2017-7" target="_blank" rel="noopener noreferrer">Tesla's long-awaited Model 3</a> launch, news of the company's solar roof has fallen by the wayside.</p><p><a href="http://files.shareholder.com/downloads/ABEA-4CW8X0/3100406046x0x952053/F302D22F-FC9B-41A3-9534-60D0032673CC/TSLA_Update_Letter_2017-2Q.pdf" target="_blank" rel="noopener noreferrer">Tesla's second-quarter investor letter </a>provided some clarity to the state of CEO Elon Musk's recent foray into the solar business. Tesla said it has successfully completed solar roof installations on employees' homes, the company said in its letter. </p><p>Tesla started <a href="http://www.businessinsider.com/tesla-solar-roof-orders-start-to-go-live-wednesday-2017-5" target="_blank" rel="noopener noreferrer">accepting deliveries</a> in May for two of its four solar roof tile options.</p><p>What's worth taking note of is what the letter neglects to say. Tesla does not provide how many employees have gotten solar roof installations. It also doesn't mention order numbers for non-Tesla employees, making it difficult to assess demand. </p><p>Tesla said "energy generation deployments," or solar products, have declined from the second quarter of last year "as we continue to focus on more profitable projects that generate positive cash flow." Energy storage deployments, which would encompass the Powerwall and Powerpack, have increase in that same time frame.</p><p>The company added that residential solar deployment will be affected in the short term as Tesla has stopped offering solar through door-to-door sales. It is instead selling the products in Tesla stores.</p><p>Tesla is currently building pilot solar roof products at its factory in Fremont, California. It will begin production at its factory in Buffalo, New York before the end of the year.</p><p>Tesla acquired SolarCity in November in a deal worth $2.1 billion. As part of the acquisition, Tesla is continuing to install traditional solar panels while attempting to sell its own solar roof product. The solar roof is meant to compete on aesthetics by resembling slate, tuscan, and glass tiles.</p><p>The state of New York is spending $750 million on the Buffalo plant as part of an economic revitalization project called the Buffalo Billion initiative spearheaded by New York Governor Andrew Cuomo. SolarCity had pledged $150 million toward the plant, which Tesla is now calling Gigafactory 2.</p><p>Peter and Lyndon Rive, the brothers who cofounded SolarCity, <a href="http://www.businessinsider.com/peter-rive-is-leaving-tesla-solarcity-lyndon-rive-2017-7" target="_blank" rel="noopener noreferrer">left Tesla</a> a few months after the acquisition. The Rives are Musk's cousins.</p><p>We'll update this post if we learn more from the earnings call at 2:30 pm PT.</p><p class="tagline">Get the latest Tesla stock price<a href="http://markets.businessinsider.com/stock/TSLA-Quote"> <strong>here.</strong></a></p>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/everything-we-know-tesla-solar-roof-elon-musk-2017-5">Elon Musk just revealed the final details of Tesla's Solar Roof - here's everything you need to know</a></h3>        <div>            <div>        <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="sxamI1YjE6UgnTA9_aUUx49XBNwjsH4C" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div>        </div>        </div>            </div>

Tesla says it has started solar roof installations for employees - but demand is unclear

<p><div class="KonaFilter image-container display-table"><div><div class="image on-image"><p class="source"><span>Getty Images</span></p><p class="caption">Millennials don't want the same types of homes baby boomers do.</p></div><p></p></div></div></p><ul class="summary-list"><li><a href="https://www.businessinsider.com/category/millennials" target="_blank" rel="noopener">Millennials</a> and <a href="https://www.businessinsider.com/category/baby-boomers" target="_blank" rel="noopener">baby boomers</a> tend to make <a href="https://www.businessinsider.com/millennials-habits-different-from-baby-boomers-2018-3" target="_blank" rel="noopener">very different lifestyle choices</a>, from <a href="https://www.businessinsider.com/marriage-differences-baby-boomers-millennials-2019-1" target="_blank" rel="noopener">marriage and family</a> to <a href="https://www.businessinsider.com/rich-millennials-vs-baby-boomers-different-money-habits-wealth-2019-3" target="_blank" rel="noopener">how they spend their money</a>.</li><li>The two generations also have different tastes in homes. </li><li><a href="https://www.wsj.com/articles/a-growing-problem-in-real-estate-too-many-too-big-houses-11553181782" target="_blank" rel="noopener">Millennials aren't buying the large, elaborate houses built by baby boomers</a> in "Sunbelt" states like Arizona, Florida, and the Carolinas, The Wall Street Journal reported.</li><li>These houses end up sitting on the market and selling at massive price cuts.</li></ul><p>It's well-documented that millennials tend to make different lifestyle choices than baby boomers do, from <a href="https://www.businessinsider.com/marriage-differences-baby-boomers-millennials-2019-1" target="_blank" rel="noopener">waiting longer to get married and have children</a><span> to <a href="https://www.businessinsider.com/rich-millennials-vs-baby-boomers-different-money-habits-wealth-2019-3" target="_blank" rel="noopener">spending their money on health, wellness, and experiences</a> rather than material goods.</span></p><p><span>But baby boomers and millennials also want very different types of <a href="https://www.businessinsider.com/category/houses" target="_blank" rel="noopener">houses</a></span><span>, and it's creating a major problem in the real-estate market.</span></p><p>Fifteen years ago, <a href="https://www.wsj.com/articles/a-growing-problem-in-real-estate-too-many-too-big-houses-11553181782" target="_blank" rel="noopener">boomers were building large, elaborate houses</a> in states like <a href="https://www.businessinsider.com/category/arizona" target="_blank" rel="noopener">Arizona</a>, <a href="https://www.businessinsider.com/category/florida" target="_blank" rel="noopener">Florida</a>, <a href="https://www.businessinsider.com/category/north-carolina" target="_blank" rel="noopener">North Carolina</a>, and <a href="https://www.businessinsider.com/category/south-carolina" target="_blank" rel="noopener">South Carolina</a>, The Wall Street Journal reported. Now, faced with the effort of maintaining such houses, they're looking to downsize.</p><p><em><strong>Read more: </strong><a href="https://www.businessinsider.com/millennials-reviving-exurbs-longer-commutes-cheaper-homes-2019-3" target="_blank" rel="noopener">Millennials are choosing to face 2-hour commutes instead of paying exorbitant rates to live in cities, and it's resurrecting a near-dead part of the suburbs</a></em></p><p>The only problem? Young people aren't interested in buying their houses, according to the Journal.<a href="https://www.businessinsider.com/millennial-couples-buying-homes-before-marriage-trend-risk-2019-2" target="_blank" rel="noopener"></a></p><p>"Homes built before 2012 are selling at steep discounts - sometimes almost 50%, and many owners end up selling for less than they paid to build their homes ..." Candace Taylor wrote in The Wall Street Journal.</p><h2>Boomers are looking to downsize - but millennials aren't interested in their homes</h2><p>"These days, buyers of all ages eschew the large, ornate houses built in those years in favor of smaller, more-modern looking alternatives, and prefer walkable areas to living miles from retail," Taylor wrote.</p><p>Younger buyers are also disinterested in outdated interior design.</p><p>"Design trends have shifted radically in the past decade," Taylor wrote in the Journal. "That means a home with crown moldings, ornate details and Mediterranean or Tuscan-style architecture can be a hard sell, while properties with clean lines and open floor plans get snapped up."</p><p>In addition to their love of open floor plans, millennials are known for being partial to minimalist, <a href="https://www.loridennis.com/greenblog/2018/07/top-millennial-interior-design-trends/" target="_blank" rel="noopener">low-maintenance</a> designs and <a href="https://www.businessinsider.com/then-and-now-how-us-kitchens-have-evolved-2019-3" target="_blank" rel="noopener">sleek, discreet appliances</a> - elements not always found in older homes.</p><p><div class="KonaFilter image-container display-table"><div><div class="image on-image"><p class="source"><span>Getty Images</span></p><p class="caption">Millennials want clean lines rather than elaborate, ornate designs in their homes.</p></div><p></p></div></div></p><p>Another hurdle for boomers looking to sell is that most <a href="https://www.mortgageloan.com/as-boomers-downsize-will-millennials-want-their-homes" target="_blank" rel="noopener">younger buyers want to buy modern, </a><span><a href="https://www.mortgageloan.com/as-boomers-downsize-will-millennials-want-their-homes" target="_blank" rel="noopener">newly constructed homes</a> to avoid paying for renovations or plumbing and electric issues, according to a 2018 report from Nationwide Mortgage.</span></p><h2>It's also much harder for millennials to buy homes at all</h2><p>Millennials are often seen as a generation of renters, but many of them actually want to buy homes - it's just much harder for them to do so.</p><p><a href="https://www.businessinsider.com/millennials-buying-first-house-tips-advice-2019-1" target="_blank" rel="noopener">Millennials</a><span><a href="https://www.businessinsider.com/millennials-buying-first-house-tips-advice-2019-1" target="_blank" rel="noopener"> buying their first home today</a> are likely to pay 39% more than baby boomers who bought their first home in the 1980s, Business Insider's <a href="https://www.businessinsider.com/author/hillary-hoffower" data-e2e-name="byline-author-name">Hillary Hoffower</a> previously reported.</span></p><p><span><em><strong>Read more</strong>: <a href="https://www.businessinsider.com/millennials-buying-a-lot-more-homes-than-you-think-2018-4" target="_blank" rel="noopener">Millennials are buying a lot more homes than you think</a></em></span></p><p><span>The generation is also facing record levels of </span><a href="https://www.businessinsider.com/category/student-loan-debt">student-loan debt</a><span>, making it hard to take on a mortgage loan, as </span><a href="https://www.businessinsider.com/millennial-homeownership-lower-2017-6" target="_blank" rel="noopener">Business Insider's Akin Oyedele reported</a><span>.</span></p><p><span>When millennials can finally afford to buy a home, it makes sense that they'd hold out for something that's exactly to their taste.</span></p>    <div class="margin-top">        <h3>NOW WATCH: <a href="https://www.businessinsider.com/what-happens-when-you-dont-get-enough-sleep-2017-12">A sleep expert explains what happens to your body and brain if you don't get enough sleep</a></h3>        <div>                    </div>    </div>

Millennials don't want to buy baby boomers' sprawling, multi-bedroom homes, and it's creating a major problem in the real-estate market

<p><div class="image-container float_right" style="width:400px"><div class="image"></div><p class="source">Flickr/meandmybadself</p></div><keyword id="763554" type="PERSON" weightage="60" keywordseo="Olive-Garden">Olive Garden</keyword> lovers, prepare for a new look.</p>
<p>The restaurant's president, Dave George, recently announced changes the company is undertaking to restructure the chain and rescue the wobbling brand.</p>
<p><a href="http://www.cnbc.com/id/100506987">CNBC reports</a> Olive Garden's sales fell by 1.2 percent during the past fiscal year and the company is using everything from more affordable prices to updated decor to reel in new customers. </p>
<p>Here are the changes coming:</p>
<ul>
<li><strong>New logo:</strong> The chain will be revamping the script green writing and purple grapes that currently grace its storefronts, although George didn't go into specifics.</li>
</ul>
<ul>
<li><strong>Fewer restaurant openings:</strong> The number of new locations will be reduced to about 15 annually during the next few years, about half of the current speed of construction, <a href="http://articles.orlandosentinel.com/2013-02-26/business/os-olive-garden-changes-20130226_1_olive-garden-darden-restaurants-new-logo">Georg said</a>.</li>
</ul>
<ul>
<li><strong>Steady prices: </strong>Olive Garden will hold down price increases on its menu items to 1 percent annually. Darden <keyword id="34615" type="ORGANIZATION" weightage="60" keywordseo="restaurants">Restaurants</keyword>, which owns the chain, is also applying this rule at Red Lobster and LongHorn Steakhouse.</li>
</ul>
<ul>
<li><strong>A more modern feel: </strong>George said the current Tuscan farmhouse vibe that most restaurants feature will be updated to a <a href="http://www.cnbc.com/id/100506987">"more relevant" look</a>, toning down the stonework and archways.</li>
</ul>
<ul>
<li><strong>Smaller plates and fewer <keyword id="20964" type="UNKNOWN" weightage="60" keywordseo="calories">calories</keyword>: </strong>A new lunch combo will go for less than $7 and a lower-calorie lasagna option is hitting menus soon. More varied menu options are on tap as well.</li>
</ul>
<ul>
<li><strong>New uniforms: </strong>Say goodbye to the starched shirts and black ties. Waiters and waitresses now will sport <a href="http://www.cnbc.com/id/100506987">a new all-black ensemble</a>.</li>
</ul>
<p><span style="line-height: 1.5em;">But one Olive Garden staple isn't going away: the restaurant's endless breadsticks.</span></p>

Big Changes Are Coming To Olive Garden

<p class="source"><span>Mass Communication Specialist 3rd Class Ford Williams/U.S. Navy via AP</span></p><p class="caption">In this image from video provided by the U.S. Navy, the guided-missile destroyer USS Porter (DDG 78) launches a tomahawk land attack missile in the Mediterranean Sea, Friday, April 7, 2017.</p>LUCCA, Italy (AP) - Foreign ministers from the Group of Seven industrialized nations are gathering Monday for a meeting given urgency by the chemical attack in Syria and the U.S. military response, with participants aiming to pressure Russia to end its support for President Bashar Assad.<p>Last week's nerve gas attack in the rebel-held town of Khan Sheikhoun, which killed more than 80 people, stirred President Donald Trump to strike for the first time at Assad's forces. U.S. warships fired 59 cruise missiles at the Syrian air base from which the U.S. believes the attack was launched.</p><p>U.S. Secretary of State Rex Tillerson said Monday at the site of a World War II-era Nazi massacre in central Italy that the United States is rededicating itself to hold to account "any and all" who commit crimes against innocent people.</p><p>Tillerson accompanied Italian Foreign Minister Angelino Alfano to Santa'Anna di Stazzema, a site of Nazi atrocities where 560 civilians, including some 130 children, were killed during World War II.</p><p>Alfano said the massacre site was a reminder that "peace is not a given. ... That is why we are here to work all together for peace and liberty."</p><p>Over the weekend, Alfano said that Europe's broad support for the U.S. military strikes had contributed to a "renewed harmony" between the United States and its partners ahead of the first meeting of G-7 foreign ministers since Donald Trump took office in January.</p><p>"We need to remember that not 10 years ago, but 100 or 120 days ago, the concern in Europe was that the United States and the EU were moving apart," Alfano told Sky TG24 Sunday. "I welcome this renewed harmony."</p><p>Officials are hoping that this can be leveraged to bring a new diplomatic push to end the 6-year-old civil war in Syria.</p><p>The meeting in the Tuscan walled city of Lucca also brings German Foreign Minister Sigmar Gabriel, British Foreign Secretary Boris Johnson and Japanese Foreign Minister Fumio Kishida, along with other G-7 foreign ministers, at a moment when the United States is sending a Navy carrier strike group toward the Korean Peninsula to provide a physical presence following North Korea's persistent ballistic missile tests.</p><p class="source"><span>AP Photo/Pablo Martinez Monsivais</span></p><p class="caption">President Donald Trump walks across the South Lawn of the White House in Washington, Sunday, April 9, 2017.</p><p>The meeting also comes amid an ongoing terror threat that was underscored by the deadly Palm Sunday bombing of Coptic churches in Egypt claimed by the Islamic State group, and another truck attack on European soil, this time in Stockholm, on Friday.</p><p>The United States is fighting Islamic State group militants in Syria but had previously avoided striking government forces, largely out of concern about being pulled into a military conflict with Russia.</p><p>The chemical attack has sent a new chill through relations between the West and Moscow, which denies Syrian forces used chemical weapons.</p><p>Russia has plans to put forward a proposal on Monday for an independent and impartial investigation of the attack, said a spokesman in Berlin for the German Foreign Minister Sigmar Gabriel.</p><p>The spokesman, Martin Schaefer, said German viewed it as "a good and important sign."</p><p>Russia was kicked out of the club of industrialized nations, formerly the G-8, after its 2014 annexation of Ukraine's Crimea region and assistance for pro-Russian separatists in eastern Ukraine.</p><p>Britain's Johnson, who had been due to visit Russian counterpart Sergey Lavrov in Moscow ahead of Monday's G-7 meeting, canceled the trip at the last minute, saying the chemical attack had "changed the situation fundamentally."</p><p>He said that instead he would work with the United States and other G-7 nations "to build coordinated international support for a cease-fire on the ground and an intensified political process."</p><p>Tillerson is due to travel to Russia after the G-7 gathering, and Johnson said he will deliver a "clear and coordinated message to the Russians."</p><p class="source"><span>REUTERS/Abed Kontar/File photo</span></p><p class="caption">Civil Defence members wear gas masks near damaged ground in Ibleen village from what activists said was a chlorine gas attack, on Kansafra, Ibleen and Josef villages, Idlib countryside, Syria May 3, 2015.</p><p>Washington has sent mixed signals about whether it shares its allies' determination that Assad must be removed from power.</p><p>After the chemical attack, Trump said his attitude toward Assad "has changed very much" and Tillerson said "steps are underway" to organize a coalition to remove him from power.</p><p>In a round of television interviews that aired Sunday, though, Tillerson said the top U.S. priority in the region remains the defeat of Islamic State militants.</p><p>Alfano was cautious on the question of whether to push Assad out, saying that decision should be up to the Syrians.</p><p>"I have to say, the Libya experiment did not go well. We are still paying the price," Alfano said, referring to the lawlessness that has ensued since the killing of longtime dictator Moammar Gadhafi and the subsequent flow of migrants to Europe via Italy.</p><p>_____</p><p>Colleen Barry in Milan and Frank Jordans in Berlin contributed to this report.</p>            <h3>NOW WATCH: <a href="http://www.businessinsider.com/microsoft-windows-10-vs-apple-mac-os-x-2017-3">I switched from Mac to Windows and I'm never going back - here's why</a></h3>                                    Please enable Javascript to watch this video

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