| Who’s Really In Charge? Kamala Harris Accidentally Makes Promises Under ‘A Harris Administration’ |
| Are Democrats just using Joe Biden as a “placeholder” until running mate Kamala Harris has the opportunity to be sworn i [...] |
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TOGETHER WITH
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Good morning. Christmas
is exactly 100 days from now, but we're not waiting to shower readers
with gifts. The winners of our MacBook Pro giveaway are...Allen P. and
Vic B. Congrats!
If we've learned
anything from Marvel, it's that you should keep doing something until
it stops working. So let's give away two more computers today (the final
day, for real). Here are the details:
- When you share the Brew today using your unique referral link, you get entered into a raffle to win a MacBook Pro.
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If you win a computer, we'll select someone you referred to win one, too. And the more you share, the better chance you have (1 referral = 1 ticket).
Share to win.
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NASDAQ
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11,190.32
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+ 1.21%
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S&P
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3,401.13
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+ 0.52%
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DJIA
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27,994.42
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UNCH
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GOLD
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1,961.30
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- 0.12%
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10-YR
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0.675%
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- 0.40 bps
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OIL
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38.25
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+ 2.66%
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*As of market close
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Nation: Louisville will pay a $12 million settlement to the family of Breonna Taylor, who was killed by police in a botched raid earlier this year.
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Economy: Fed Chair Jerome Powell
isn’t expected to announce any change in interest rates today, but his
presser this afternoon will still be a must-watch. It’s the first time the central bank has met under the new inflation framework it announced last month.
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Francis Scialabba
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Buzzy tech startup Snowflake will go public on the NYSE today under the ticker SNOW. It’s expected to pop like *NSYNC.
The backstory: The eight-year-old startup provides cloud-based data management for businesses (stop snoring, it’s rude). Bloomberg describes its product as “a vacuum sucking up data strewn across in different systems, so that businesses can analyze it all together.”
Investors have that surprise snow day feeling
Warren
Buffett's Berkshire Hathaway and Salesforce have each thrown $250
million in the pot. And while Snowflake initially targeted a share price
between $75 and $85, last night it priced its IPO at a reported
$120/share.
- Worth $33.3 billion, it would be the most valuable software startup ever to go public.
Why the hype? The
enterprise cloud biz is torrential—lots of businesses need lots of data
stored and analyzed. Snowflake is competing with mammoth incumbents
Oracle and Amazon Web Services’s Redshift, but some analysts say
Snowflake’s product is stronger and more flexible than the legacy
players'.
- Snowflake hauled in a
Minneapolis-in-December drift of revenue in its most recent fiscal year,
growing 174% annually to $265 million.
- But the company, which embarked on a pricey expansion last year following a CEO shakeup, is not profitable.
You know what they say about IPOs: When it snows, it blizzards
As of the end of last week, U.S.-listed companies had raised over $78 billion in 2020...though many of them are doing it the new-fashioned way: blank-check companies, also known as SPACs.
- Former Facebook exec Chamath Palihapitiya’s SPAC, Social Capital Hedosophia II, took real estate tech company Opendoor public yesterday at a $4.8 billion valuation.
Looking ahead...with
12 entrants, this is the busiest week for IPOs since Uber went public
in May 2019. Videogame engine maker Unity will join Snowflake on the
NYSE today, looking to raise up to $1.2 billion.
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Giphy
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Just kidding, Apple’s CEO would rather you buy his products. Specifically, the ones he unveiled yesterday in the company’s big (virtual) showcase.
Hardware highlights:
Other highlights
Apple’s been investing in its services division and rolled out two big gameplans yesterday.
1. Apple Fitness+ connects users to online workout videos. Peloton CEO John Foley called it
a “legitimization” of streamed fitness content, but said his company
still has an edge since it builds the bikes and treadmills.
- Worth noting: Many Fitness+ workouts require a set of dumbbells or less.
2. Apple One bundles
the company’s paid Music, TV+, Arcade, and iCloud offerings into a
$14.95/month subscription. Apple is also offering a Family tier that
includes added storage and a Premier tier that includes Apple News+ and
Fitness+.
Rivals are fuming: Wrapping
music, gaming, and video into one service could make it harder for
users to leave the Apple orchard. After the event, Spotify said "Apple is using its dominant position and unfair practices to disadvantage competitors.”
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The World Trade Organization hasn’t. Yesterday, it said the U.S. violated trade rules when it slapped tariffs on around $200 billion in Chinese goods in 2018.
Where the U.S. crossed the line, per the WTO: The
Trump administration only slapped tariffs on China (vs. all WTO
members) and exceeded the maximum rates allowed. The U.S. also failed to
explain why its tariffs, levied over accusations of IP theft and other
unfair trade practices, deserve a hall pass.
U.S. Trade
Rep. Robert Lighthizer, a major WTO critic along with President Trump,
said this decision proves the international trade regulator 1) doesn’t
dispute U.S. claims of intellectual property theft by Beijing but 2)
doesn’t have the muscle to do anything itself.
Zoom out: The U.S. can appeal
and basically make this case disappear. The WTO’s appellate court has
been paralyzed since December, when it ran out of enough judges to keep
meeting. Its ranks have dwindled as the U.S. has blocked new appointments under the past three presidents in protest of decisions that hurt American interests.
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SPONSORED BY POLICYGENIUS
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Typically we
are very in-the-know about all life insurance-based holidays. But this
September has been a whirlwind, what with all the staring out the window
and looking at the sky that we’ve been doing.
But we’re making amends and drawing attention to this important month thanks to our friends at Policygenius.
They think, and obviously we agree, there’s no better way to celebrate
such a real and important month than by getting life insurance.
As a marketplace backed by experts, Policygenius makes the process easy and transparent. They’ll help you calculate your personalized quotes in minutes, all while offering unbiased guidance along the way.
Compare quotes and buy directly with Policygenius and you could save 40%, which if our math is right, is a lot of percents.
Rates increase as you age, so make this the Life Insurance Month that you actually get life insurance.
Check out Policygenius today.
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You may have seen this headline yesterday: “Charli D’Amelio Joins Triller.”
Whether you responded “omg” or “joins is the only one of those words I
know”...can probably be deduced based on how much time you spend on
TikTok.
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Charli D’Amelio is a TikTok megastar. She announced yesterday she’ll start creating content on…
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Triller, which is a U.S.-based TikTok rival.
The deal is non-exclusive, so Charli will still influence on TikTok (and Instagram, and YouTube).
Zoom out: For an app that talks a big game
about being different from TikTok, Triller’s been capitalizing on the
geopolitical turmoil around TikTok by recruiting big names in content
creation, including D’Amelio, fellow TikToker Addison Rae, and even
President Trump and some members of his family.
Another development from the influencer desk: Kim Kardashian West is joining other celebs in temporarily freezing
her Instagram and Facebook accounts today. The OG influencer said she
couldn’t “sit by and stay silent while these platforms continue to allow
the spreading of hate, propaganda, and misinformation.”
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Yuengling
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Yuengling, Pennsylvania’s second-most popular export after the Wawa roast beef hoagie, is heading west. The brewer signed a joint venture with Molson Coors to sell its beer beyond its 22-state home turf on the East Coast starting in 2021.
What’s in it for them: Molson is looking to the fan fave to boost flagging beer sales. And Yuengling's hoping the partnership will give it the reach it couldn’t achieve with factories in just Pennsylvania and Florida.
- It’s a big move for a historic company. Founded in 1829 in Pottsville, PA, Yuengling is America’s oldest operating brewer.
Zoom out: U.S.
beer sales fell 2% last year, per the Brewers Association. If they want
to Claw back market share, brewers will Truly have to confront the
growing appetite for spiked seltzer and hard alcohol.
+ Pro tip for non-Philly people: When you order a Yuengling, you just say “lager.”
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Pixabay
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That you could win a MacBook Pro just by sharing the Brew. That's our domain.
How it works: When you share the Brew today, you’ll have a chance to win a brand new MacBook Pro for you and someone who signs up to the newsletter using your referral link.
- Each time you refer someone to Morning Brew, you'll get a ticket entered into the raffle. 1 referral = 1 ticket.
How to start: Click
the share button below to grab your unique referral link. Then, tell
everyone you know that they can 1) read business news that makes you
smile even during a pandemic and 2) have a chance to win a new computer.
This is the final day of the giveaway (we promise) so don’t waste a second.
Share to WinOr copy & paste your referral link to others:
morningbrew.com/daily/r/?kid=a17a7110
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FedEx posted its best quarterly sales numbers ever thanks to the Covid e-commerce boom.
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Israel signed landmark diplomatic agreements with the UAE and Bahrain at a White House ceremony.
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Actor John Boyega
resigned as brand ambassador for Jo Malone, a British cologne company,
after it replaced him in a Chinese version of a commercial he created.
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Kraft Heinz
will sell part of its cheese business to the French company Lactalis
for $3.2 billion. Not Kraft Singles, though. That isn’t cheese.
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SPONSORED BY THE GREAT COURSES PLUS
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Bring me the memos: Wondering
what qualities a top VC firm saw in companies like Shopify and Twitch?
Bessemer Venture Partners released its investment memos, and you can read them here.
Bookmark this: Track the ocean’s tagged sharks, then zoom way out to explore the depths of the universe.
Book this: Browse the shortlist for the Booker Prize.
If you read all six before the winner’s announced in November, 1) we’ll
be proud of you and 2) you’ll have read six outstanding books written
by the Booker Prize's most diverse lineup of authors yet.
Brew Votes: We'll send you an exclusive sticker sheet when you post about Brew Votes, your home base for registering to vote in the upcoming election.
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A major event that changed the course of history happened in England exactly 400 years ago today. Can you name it?
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Giveaway: Share the Brew for a chance to win a MacBook Pro.
Here's a message you can copy and paste to share with your friends:
Hey!
Do you read Morning Brew? It's an awesome daily newsletter that covers
the must-read business news in 5 minutes. They're running a giveaway
today so if you sign up using my link, we're both entered to win a
MacBook Pro. Sign up here—it's free: morningbrew.com/daily/r/?kid=a17a7110
Share to Win
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The Pilgrims set sail on the Mayflower.
SOCIAL SECURITY ALERT: If Social Security was part of your retirement plan, your plans may have just been canceled.
If you ever suspected that
the money YOU paid into the Social Security and Medicare programs was gone forever... YOU could be absolutely right!
Before the Coronavirus
pandemic brutally forced more than 50 MILLION Americans out of work, the
Social Security Administration was already expecting to be bankrupt by 2034.
But now, with 50+ million less workers paying into the Social Security System, a new report is revealing the terrifying truth...
Social Security Bankruptcy could be here a lot sooner than anyone thought, which may drastically change YOUR lifestyle plans during YOUR golden years.
Your future gets even more bleak when you throw the future of Medicare into the mix.
Conservative estimates show Bankruptcy of the Medicare Program could come as soon as 2026. However, the same new report reveals the actual date is likely much, much sooner.
The worst part is, NONE OF THIS IS YOUR FAULT. Absolutely none.
CRINGE: Biden Pulls Out His Phone and Starts Playing Despacito (VIDEO)
“Tens Of Thousands” Received China Mystery Seeds In The Mail, Many Planted Them
Agitator Jumps on Moving Police Car, Eats Pavement Moments Later
Watch – LA Protesters Chant ‘Blue Lives Don’t Matter Here’
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September 16
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| FEATURED BIOGRAPHY
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| Tomás de Torquemada
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| FEATURED EVENT
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| 1620
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| Mayflower's departure for America
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| MORE EVENTS ON THIS DAY
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1998: The Basque separatist organization ETA announced an indefinite cease-fire after 30 years of terrorist guerrilla attacks in Spain that were blamed for 800 deaths; the peace lasted 14 months.
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| Humor Video: Rich People During COVID | | | | “She’s starting a petition … to get Botox approved as an essential business.” Read more[...] | | | | | | | |
| U.S. Warns Against Travel to China and Hong Kong |
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| Trump pressed on why he took 'foot off the gas' on COVID response | | | | | | | Palestinians review strategy with Arab League amid historic treaties with Israel | | | | | | | U.S. Warns Against Travel to China and Hong Kong |
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