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   In this special edition of Snacks, we’re diving deeper than Paul Rudd into what has become one of the hottest and most fascinating new sectors in tech: quantum computing.
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                  <span class="tinyMce-placeholder" style="word-break: break-word;">
                   Hey Snackers,
                  </span>
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                  <p style="margin:0;margin-bottom:16px">
                   Did the 2023 Marvel movie “Ant-Man and the Wasp: Quantumania” lose or make money? It depends on when you look for the answer. Initially, it was reported to be a
                   <a style="text-decoration: underline; color: #5869ff;">
                    <strong>
                     huge failure
                    </strong>
                   </a>
                   , but a 2024 Forbes analysis found it actually
                   <a style="text-decoration: underline; color: #5869ff;">
                    <strong>
                     eked out a teeny tiny profit
                    </strong>
                   </a>
                   . It seems just right for a movie that pins its plot on quantum mechanics to itself have had a Schrödinger’s cat moment, especially as the “Ant-Man” series is how many of us were exposed to the ideas of quantum physics. (That said, it’s
                   <a style="text-decoration: underline; color: #5869ff;">
                    <strong>
                     science fiction
                    </strong>
                   </a>
                   , not fact — here’s a
                   <a style="text-decoration: underline; color: #5869ff;">
                    <strong>
                     succinct explainer from MIT
                    </strong>
                   </a>
                   on quantum computing technology.)
                  </p>
                  <p style="margin:0;margin-bottom:16px">
                   In this special edition of Snacks, we’re diving deeper than Paul Rudd into what has become one of the hottest and most fascinating new sectors in tech: quantum computing.
                  </p>
                  <p style="margin:0">
                   Before we dive into the future, we did still notice the markets of yesterday: A double whammy of negative AI headlines and tougher tariff talk
                   <a style="text-decoration: underline; color: #5869ff;">
                    <strong>
                     sunk stocks
                    </strong>
                   </a>
                   . The S&amp;P 500 fell 1.1%, the Russell 2000 gave back 1%, and the tech-heavy Nasdaq 100 slumped 1.8%.
                   <a style="text-decoration: underline; color: #5869ff;">
                    <strong>
                     Tech was the worst
                    </strong>
                   </a>
                   S&amp;P 500 sector ETF, down 2.2%, while consumer discretionary fell more than 1%.
                  </p>
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                  <!--[if mso]>
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                     <strong>
                      QUANTUM BEEF
                     </strong>
                    </span>
                   </span>
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                  <!--[if mso]></center></v:textbox></v:roundrect><![endif]-->
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                  <strong>
                   <a rel="noopener" style="text-decoration: underline; color: #5869ff;" target="_blank">
                    D-Wave Quantum CEO talks “quantum supremacy” and Nvidia disappointments
                   </a>
                  </strong>
                 </h1>
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                  <p style="margin:0">
                   Sherwood News Market Editor Luke Kawa sat down with the
                   <a style="text-decoration: underline; color: #5869ff;">
                    <strong>
                     CEO of D-Wave Quantum
                    </strong>
                   </a>
                   , Dr. Alan Baratz, to get answers to some of the questions that make our heads hurt when we start digging into this industry, as well as his uncensored thoughts about Nvidia’s Quantum Day.
                  </p>
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                  <ul start="1" style="margin-top:0;margin-bottom:0;list-style-type:revert">
                   <li aria-level="1" style="Margin:0 0 8px 0">
                    <strong>
                     First, he unpacked what D-Wave’s “quantum supremacy” breakthrough means.
                     <br/>
                    </strong>
                    On March 12, D-Wave said the company’s quantum computing had
                    <a style="text-decoration: underline; color: #5869ff;">
                     <strong>
                      successfully answered two important questions
                     </strong>
                    </a>
                    : “What can you do that a classical computer can’t?” and, “If so, how could that accomplishment make or save me money right now?” A very complicated paper was published on this, but Kawa asked Baratz to break it down for us and elaborate on how it’s different from Alphabet’s Willow breakthrough. The TL;DR:
                    <a style="text-decoration: underline; color: #5869ff;">
                     <strong>
                      “Nobody can do anything useful” with Willow, but with D-Wave…
                     </strong>
                    </a>
                   </li>
                   <li aria-level="1" style="Margin:0 0 8px 0">
                    <strong>
                     Second, Baratz
                    </strong>
                    <a style="text-decoration: underline; color: #5869ff;">
                     <strong>
                      spilled the tea
                     </strong>
                    </a>
                    <strong>
                     on why he was “
                    </strong>
                    <a style="text-decoration: underline; color: #5869ff;">
                     <strong>
                      quite disappointed
                     </strong>
                    </a>
                    <strong>
                     ” with Nvidia.
                     <br/>
                    </strong>
                    In January, Nvidia CEO Jensen Huang made a bit of an oopsie, saying quantum computers were
                    <strong>
                    </strong>
                    <a style="text-decoration: underline; color: #5869ff;">
                     <strong>
                      15 to 30 years away
                     </strong>
                    </a>
                    from being “useful.” To make amends, Huang hosted a Quantum Day as part of GTC, where he actually made
                    <a style="text-decoration: underline; color: #5869ff;">
                     <strong>
                      further
                     </strong>
                    </a>
                    <a style="text-decoration: underline; color: #5869ff;">
                     <strong>
                      embarrassing
                     </strong>
                    </a>
                    remarks
                    <strong>
                    </strong>
                    about his knowledge of the quantum industry. Baratz, who was on a panel at the event, did not hold back when talking to Sherwood about the
                    <a style="text-decoration: underline; color: #5869ff;">
                     <strong>
                      “self-serving” show
                     </strong>
                    </a>
                    as well as being left off
                    <a style="text-decoration: underline; color: #5869ff;">
                     <strong>
                      Nvidia’s quantum consortium
                     </strong>
                    </a>
                    .
                   </li>
                   <li aria-level="1" style="Margin:0 0 8px 0">
                    <strong>
                     Finally,
                    </strong>
                    Kawa asked why the seeming soulmates of AI and quantum hadn’t already gotten hitched, and he gave an
                    <a style="text-decoration: underline; color: #5869ff;">
                     <strong>
                      unexpected answer
                     </strong>
                    </a>
                    about the
                    <strong>
                    </strong>
                    <a style="text-decoration: underline; color: #5869ff;">
                     <strong>
                      surprising pit stop
                     </strong>
                    </a>
                    on the road to AI quantum computing integration.
                   </li>
                  </ul>
                 </div>
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                      Read more
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                    <span style="word-break: break-word; line-height: 16.8px;">
                     Presented by Cytonics
                    </span>
                   </span>
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                 <h1 style="margin:0;color:#5869ff;direction:ltr;font-family:'Helvetica Neue',Helvetica,Arial,sans-serif;font-size:25px;font-weight:700;letter-spacing:normal;line-height:120%;text-align:left;margin-top:0;margin-bottom:0;mso-line-height-alt:30px">
                  <span class="tinyMce-placeholder" style="word-break: break-word;">
                   This company is taking on Big Pharma to fix one of their big failures
                   <br/>
                  </span>
                 </h1>
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                    <img alt="" height="auto" src="https://inboxflows.com/_/image/https%253A%252F%252Fmedia.sailthru.com%252Fcomposer%252Fimages%252Fbazh%252F6su869qw%252F6oe%252Fvqk%252Fw3z%252F07_alpha-min.png/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZtZWRpYS5zYWlsdCIsInRpbWUiOjE3NDMwNzI2ODIuNDAwNjAzfQ:1txkpW:PPeNxpn2lmKJhOtDBp2KNncrPweJL2NusVcilepYISo" style="display:block;height:auto;border:0;width:100%" title="" width="550"/>
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                  <p style="margin:0;margin-bottom:16px">
                   Big Pharma has failed to develop a disease-modifying therapy for osteoarthritis (DMOAD). It’s an oversight that’s burdened patients with temporary treatments that don’t target the root cause of the disease – leaving 365M+ people suffering with knee OA pain globally.
                  </p>
                  <p style="margin:0;margin-bottom:16px">
                   <a style="text-decoration: underline; color: #5869ff;" target="_self">
                    <strong>
                     Cytonics
                    </strong>
                   </a>
                   believes that this is unacceptable, and has developed a novel approach to overcome pharma’s deficiencies in the standard of care.
                  </p>
                  <p style="margin:0;margin-bottom:16px">
                   Cytonics’ solution is based on one of nature’s amazing creations: a blood protein called Alpha-2-Macroglobulin (A2M). By tweaking the genetic code of this naturally occurring protein, Cytonics has developed a genetically engineered A2M variant named CYT-108, which
                   <em>
                    could
                   </em>
                   become the first disease-modifying therapy for osteoarthritis.
                  </p>
                  <p style="margin:0;margin-bottom:16px">
                   And they’re doing it without
                   <em>
                    any
                   </em>
                   assistance from Big Pharma or Wall Street.
                   <a style="text-decoration: underline; color: #5869ff;" target="_self">
                    <strong>
                     Cytonics has taken exactly $0.00 from Silicon Valley behemoths
                    </strong>
                   </a>
                   , and their current round is open to investors.
                  </p>
                  <p style="margin:0">
                   <a style="text-decoration: underline; color: #5869ff;" target="_self">
                    <strong>
                     Join Cytonics in changing the trajectory of OA and biotech
                    </strong>
                   </a>
                   .
                   <sup>
                    1
                   </sup>
                  </p>
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               <tr>
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                 <div align="left" class="alignment">
                  <!--[if mso]>
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                    <span style="word-break: break-word; line-height: 16.8px;">
                     <strong>
                      Q-DAY
                     </strong>
                    </span>
                   </span>
                  </div>
                  <!--[if mso]></center></v:textbox></v:roundrect><![endif]-->
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                 <h1 style="margin:0;color:#5869ff;direction:ltr;font-family:'Helvetica Neue',Helvetica,Arial,sans-serif;font-size:26px;font-weight:700;letter-spacing:normal;line-height:120%;text-align:left;margin-top:0;margin-bottom:0;mso-line-height-alt:31.2px">
                  <strong>
                   The day the computer cracks everything
                  </strong>
                 </h1>
                </td>
               </tr>
              </table>
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                 <div style="color:#1d1d1d;direction:ltr;font-family:'Helvetica Neue',Helvetica,Arial,sans-serif;font-size:18px;font-weight:400;letter-spacing:0;line-height:150%;text-align:left;mso-line-height-alt:27px">
                  <p style="margin:0">
                   One of the biggest fears around the emergence of quantum computing is that the tech will be able to crack every code known to man and machine. It’s called
                   <strong>
                    “
                   </strong>
                   <a style="text-decoration: underline; color: #5869ff;">
                    <strong>
                     Q-Day
                    </strong>
                   </a>
                   <strong>
                    ”
                   </strong>
                   by those in the industry: the day a quantum computer can solve encryption that keeps all our secrets safe, from passwords to financial records to crypto wallets to military plans and launch codes.
                   <a style="text-decoration: underline; color: #5869ff;">
                    <strong>
                     Experts surveyed last year
                    </strong>
                   </a>
                   gave a one-in-three chance we hit Q-Day by 2035, but in a Wired piece published on Monday, experts gave a 15% chance it’s
                   <a style="text-decoration: underline; color: #5869ff;">
                    <strong>
                     already happened
                    </strong>
                   </a>
                   .
                   <strong>
                   </strong>
                   And development is speeding up:
                  </p>
                 </div>
                </td>
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                <td class="pad" style="padding-bottom:15px;padding-left:10px;padding-right:10px;padding-top:10px">
                 <div style="margin-left:-20px">
                  <ul start="1" style="margin-top:0;margin-bottom:0;list-style-type:revert">
                   <li aria-level="1" style="Margin:0 0 8px 0">
                    In December,
                    <strong>
                     Alphabet
                    </strong>
                    CEO Sundar Pichai
                    <a style="text-decoration: underline; color: #5869ff;">
                     <strong>
                      announced
                     </strong>
                    </a>
                    that Google’s
                    <a style="text-decoration: underline; color: #5869ff;">
                     <strong>
                      Willow quantum chip solved a problem
                     </strong>
                    </a>
                    in “&lt;5 mins” that would take today’s best supercomputers 10
                    <a style="text-decoration: underline; color: #5869ff;">
                     <strong>
                      septillion
                     </strong>
                    </a>
                    <strong>
                    </strong>
                    years to complete.
                   </li>
                   <li aria-level="1" style="Margin:0 0 8px 0">
                    <a style="text-decoration: underline; color: #5869ff;">
                     <strong>
                      A few days later
                     </strong>
                    </a>
                    ,
                    <strong>
                     Rigetti Computing
                    </strong>
                    , in partnership with
                    <strong>
                     Nvidia
                    </strong>
                    and others, successfully used AI to calibrate a quantum computer (that is, set it up so it works and does whatever it’s being asked to do properly) — a significant potential time-saver that could aid the proliferation of this technology.
                   </li>
                   <li aria-level="1" style="Margin:0 0 8px 0">
                    Then in February,
                    <strong>
                     Microsoft
                    </strong>
                    said
                    <strong>
                    </strong>
                    it had built a
                    <strong>
                     “
                    </strong>
                    <a style="text-decoration: underline; color: #5869ff;">
                     <strong>
                      topological qubit,
                     </strong>
                    </a>
                    <strong>
                     ”
                    </strong>
                    a new type of hardware made from electrons on a tiny wire, which created
                    <a style="text-decoration: underline; color: #5869ff;">
                     <strong>
                      a very real drama
                     </strong>
                    </a>
                    <strong>
                    </strong>
                    in the space as experts
                    <a style="text-decoration: underline; color: #5869ff;">
                     <strong>
                      doubted the company’s results
                     </strong>
                    </a>
                    .
                   </li>
                  </ul>
                 </div>
                </td>
               </tr>
              </table>
              <table border="0" cellpadding="0" cellspacing="0" class="paragraph_block block-6" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;word-break:break-word" width="100%">
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                <td class="pad" style="padding-bottom:10px">
                 <div style="color:#1d1d1d;direction:ltr;font-family:'Helvetica Neue',Helvetica,Arial,sans-serif;font-size:18px;font-weight:400;letter-spacing:0;line-height:150%;text-align:left;mso-line-height-alt:27px">
                  <p style="margin:0">
                   What can be done to get ready for Q-Day?
                  </p>
                 </div>
                </td>
               </tr>
              </table>
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                <td class="pad" style="padding-bottom:15px;padding-left:10px;padding-right:10px;padding-top:10px">
                 <div style="margin-left:-20px">
                  <ul start="1" style="margin-top:0;margin-bottom:0;list-style-type:revert">
                   <li aria-level="1" style="Margin:0 0 8px 0">
                    Researchers have been working on
                    <a style="text-decoration: underline; color: #5869ff;">
                     <strong>
                      quantum-proof encryption and algorithms
                     </strong>
                    </a>
                    for longer than you’d think. NIST, or the National Institute of Standards and Technology, has been
                    <a style="text-decoration: underline; color: #5869ff;">
                     <strong>
                      racing to develop
                     </strong>
                    </a>
                    <strong>
                    </strong>
                    quantum-proof algorithms for years and published
                    <a style="text-decoration: underline; color: #5869ff;">
                     <strong>
                      its first successes in 2022
                     </strong>
                    </a>
                    .
                   </li>
                   <li aria-level="1" style="Margin:0 0 8px 0">
                    Bitcoin is “exquisitely vulnerable to Q-Day” because of its public ledger,
                    <a style="text-decoration: underline; color: #5869ff;">
                     <strong>
                      the Wired piece explains
                     </strong>
                    </a>
                    ,
                    <strong>
                    </strong>
                    but new cryptocurrencies
                    <a style="text-decoration: underline; color: #5869ff;">
                     <strong>
                      designed
                     </strong>
                    </a>
                    to be
                    <strong>
                     “
                    </strong>
                    <a style="text-decoration: underline; color: #5869ff;">
                     <strong>
                      quantum-resistant
                     </strong>
                    </a>
                    <strong>
                     ”
                    </strong>
                    are emerging.
                   </li>
                  </ul>
                 </div>
                </td>
               </tr>
              </table>
             </td>
            </tr>
           </tbody>
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        </tr>
       </tbody>
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           <tbody>
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             <td class="column column-1" style="mso-table-lspace:0;mso-table-rspace:0;font-weight:400;text-align:left;padding-left:25px;padding-right:25px;vertical-align:top" width="100%">
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                 <h1 style="margin:0;color:#5869ff;direction:ltr;font-family:'Helvetica Neue',Helvetica,Arial,sans-serif;font-size:23px;font-weight:700;letter-spacing:normal;line-height:120%;text-align:left;margin-top:0;margin-bottom:0;mso-line-height-alt:27.599999999999998px">
                  <span class="tinyMce-placeholder" style="word-break: break-word;">
                   THE TAKEAWAY
                  </span>
                 </h1>
                </td>
               </tr>
              </table>
              <table border="0" cellpadding="0" cellspacing="0" class="paragraph_block block-2" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;word-break:break-word" width="100%">
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                 <div style="color:#1d1d1d;direction:ltr;font-family:'Helvetica Neue',Helvetica,Arial,sans-serif;font-size:18px;font-weight:400;letter-spacing:0;line-height:150%;text-align:left;mso-line-height-alt:27px">
                  <p style="margin:0">
                   For those of us old enough to remember the panic leading up to Y2K, it’s a lesson that society can prepare for technological sea change. Yes, this is a bigger and harder task than the updates required as the year turned from
                   <a style="text-decoration: underline; color: #5869ff;">
                    <strong>
                     1999 to 2000
                    </strong>
                   </a>
                   , but it’s not impossible. NIST released its post-quantum encryption standards last summer and one of
                   <a style="text-decoration: underline; color: #5869ff;">
                    <strong>
                     Biden’s final executive orders
                    </strong>
                   </a>
                   tasked government agencies to enact those algorithms ASAP.
                  </p>
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                      Read more
                     </strong>
                    </span>
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                     <strong>
                      THE BEST EXPLAINERS ON QUANTUM
                     </strong>
                    </span>
                   </span>
                  </div>
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                  <p style="margin:0">
                   In preparing for this edition, we lived in the quantum states of feeling like we did and did not understand how the tech works. This basic
                   <a style="text-decoration: underline; color: #5869ff;">
                    <strong>
                     101 from IBM
                    </strong>
                   </a>
                   <strong>
                   </strong>
                   was a thorough and understandable piece we kept open in a tab throughout. If you’re a visual learner, try this
                   <a style="text-decoration: underline; color: #5869ff;">
                    <strong>
                     animated explainer featuring Deadpool and Wolverine
                    </strong>
                   </a>
                   . But our favorite explanation may have been a simple answer from an
                   <strong>
                    “
                   </strong>
                   <a style="text-decoration: underline; color: #5869ff;">
                    <strong>
                     Explain it like I’m 5?
                    </strong>
                   </a>
                   <strong>
                    ”
                   </strong>
                   Reddit post
                   <strong>
                   </strong>
                   that used
                   <a style="text-decoration: underline; color: #5869ff;">
                    <strong>
                     classroom Valentine’s Day cards
                    </strong>
                   </a>
                   as the metaphor.
                  </p>
                 </div>
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                    </td>
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             </td>
            </tr>
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                  <!--[if mso]>
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                     <strong>
                      OFF THE CHARTS
                     </strong>
                    </span>
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                     Quantum computing startups raised $1.9 billion in venture funding in 2024.
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                  <ul start="1" style="margin-top:0;margin-bottom:0;list-style-type:revert">
                   <li aria-level="1" style="Margin:0 0 8px 0">
                    Final Q4 gross domestic product
                   </li>
                   <li aria-level="1" style="Margin:0 0 8px 0">
                    Earnings expected from
                    <strong>
                     Walgreens
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                    and
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