Want a Robotaxi? Move to One of These Cities

The week’s wrapping up — here’s what you might’ve missed across business, AI, and global trends:

• Cocaine Use Hits Highs in Oceania and Beyond: Oceania now leads the world in cocaine use, with over 3% of adults reporting recent usage — far ahead of the global average. While the Americas have the highest number of users overall, the UN’s latest report also warns of record-high production and a growing global threat.

• The Great Wealth Migration Is On: A record 142,000 millionaires are expected to relocate this year — with the UAE and U.S. seeing the biggest inflows. Meanwhile, the UK is set to lose over $90 billion in wealth as high-net-worth individuals seek friendlier tax policies and Golden Visas.

• Apple’s Plan B for AI? Buy Perplexity: With Siri lagging and “Apple Intelligence” still unproven, Apple is reportedly exploring a bid for Perplexity AI. The $14B startup has gained ground as an AI-native search tool — and might be Apple’s shortcut to catching up in the AI race.

• Duolingo Learns the Hard Way About Market Sensitivity: Shares fell 6% after reports showed slowing user growth. The dip was worsened by controversy around the CEO’s comments on using AI to replace jobs — a reminder that even market darlings aren’t immune to perception swings.

• Robotaxis Are Here — But Only in These Cities: Self-driving taxis are no longer sci-fi — but they’re still rare. Tesla just launched a pilot in Austin, while Waymo has gone driverless in four U.S. cities. China remains the leader, with Baidu’s Apollo Go running 1,000+ robotaxis in multiple mega-cities.

Cocaine Use Hits Highs in Oceania and Beyond

In 2023, Oceania recorded the highest rate of cocaine use worldwide, with over 3% of people aged 15 to 64 reporting they had used the drug, according to the UN World Drug Report 2025. 🚨🇦🇺

That’s nearly double the rate in North America (1.92%), and far ahead of Europe (1.1%), South America (1.55%), and Asia (just 0.11%). The global average stood at 0.47%, making Oceania’s figure stand out dramatically.

However, when it comes to total number of users, the Americas lead with 11.4 million, followed by Europe (6M) and Asia (3.4M). Oceania, though high in prevalence, had 880,000 users due to its smaller population.

The report also warns of a global surge in cocaine production, which jumped 34% in a single year to a record 3,708 tons in 2023. Seizures and cocaine-related deaths are also rising, pointing to a growing global problem.

The Great Wealth Migration Is On

A record 142,000 millionaires are expected to pack their bags and move countries in 2025 — and next year, it’ll be even more. According to Henley & Partners, this is the largest wealth migration in history, shifting both money and economic power across borders.

The UAE tops the list, welcoming nearly 10,000 high-net-worth individuals, drawn by tax-free living and shiny Golden Visas. The US is next, expecting 7,500 millionaire arrivals, thanks to programs like EB-5 and Trump’s proposed $5M Gold Card Visa.

And the biggest loser? The UK, set to wave goodbye to 16,500 millionaires and around $92 billion in assets, continuing a post-Brexit trend that’s drained nearly 28,800 millionaires since 2016. 🇬🇧👋 

As wealth increasingly follows policy, lifestyle, and low taxes, it’s clear: the global map of influence is being redrawn — one private jet at a time.

Apple’s Plan B for AI? Buy Perplexity

Apple may be late to the AI party, but it’s thinking about buying a fast pass. 🚀 According to Bloomberg, Apple’s top execs are internally discussing a potential bid for Perplexity AI, the rising search engine that handled 780 million queries in May and is now valued at $14 billion. 👀

With Siri still underwhelming and “Apple Intelligence” off to a rocky start, the tech giant seems eager to close the AI gap — especially with its $20B search deal with Google under threat from antitrust rulings. While Apple has traditionally shied away from splashy acquisitions, this could mark a major strategy shift.

Of course, Apple has the cash. It spent nearly $50 billion just on stock buybacks over the past two quarters alone. Now the question is — will it spend big on Perplexity to catch up with the AI frontrunners? 🤔

Duolingo Learns the Hard Way About Market Sensitivity

Duolingo’s stock slipped 6% on Wednesday, its worst day in over two months, after Jefferies analysts flagged a clear slowdown in daily active user growth. DAUs rose just 37% year-over-year in June, down from 53% in March — a sharp deceleration that spooked investors. 📉

The slowdown may be partly tied to CEO Luis von Ahn’s recent comment about shifting Duolingo into an “AI-first” company and replacing some contractor roles with automation. The backlash was swift, prompting him to clarify that AI will be a tool, not a job killer. 🤖

Duolingo shares are still up massively over the past year — but this dip shows the market is watching every move, especially when AI enters the chat. 🦉

Robotaxis Are Here — But Only in These Cities

Self-driving cars might feel like sci-fi, but robotaxis are already picking up passengers — in very specific parts of the world. This week, Tesla joined the game with a small launch in Austin, though it still relies on safety drivers. 👀

Waymo, Tesla’s U.S. rival, is further ahead. It now operates driverless taxis in San Francisco, Los Angeles, Phoenix, and just added Atlanta to the map 🗺️.

But if you really want to see robotaxis in action, China is where it’s at. Baidu’s Apollo Go runs over 1,000 robotaxis across mega-cities like Beijing, Shanghai, and Shenzhen. Some services already charge low fares — cheap enough to upset traditional taxi drivers 🚕 😤. Operators like WeRide are expanding internationally, with robotaxis now seen in Abu Dhabi and planned for Dubai and Hong Kong.

Most robotaxis still come with limits: geofenced routes, time restrictions, or remote oversight. Some even have a human onboard just in case — though they rarely touch the wheel.

But it’s not all smooth driving. A 2023 accident in San Francisco involving GM’s Cruise caused the company to pull the plug. Motional’s Las Vegas service was also paused in 2024.

So yes, robotaxis are real. Just don’t expect them everywhere — yet 🤖🚦.

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