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TOGETHER WITH
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Good morning. We
hope this email finds you well. It’s often difficult to come up with
original ways to start this newsletter, so today we’re circling back
with as generic an email greeting as possible (ccing Ted for
visibility).
Please let us know how we may assist—we’ll be available at 6am tomorrow or at your earliest convenience. Thanks again!
With our warmest sincere regards,
Best and thanks again,
Alex, Eliza, and Neal
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NASDAQ
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11,154.60
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- 1.57%
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S&P
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3,360.75
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- 1.40%
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DJIA
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27,770.65
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- 1.34%
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GOLD
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1,893.60
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- 1.38%
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10-YR
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0.752%
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- 3.60 bps
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OIL
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40.05
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+ 2.12%
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*As of market close
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2020: The VP debate between Mike
Pence and Kamala Harris is tonight. President Trump, back at the White
House after being hospitalized with Covid-19, said he planned to attend next week’s presidential debate in Miami.
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Economy: The U.S. trade deficit ($67.1 billion) grew
to its highest level in 14 years. The deficit measures the difference
in value between a country’s exports and its imports. If the deficit
gets too big, it could hamper economic growth.
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Anna Moneymaker/Pool/Getty Image
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Yesterday
afternoon, President Trump told his representatives to pause
negotiations on a new pandemic relief bill until after the election, tweeting, "after I win, we will pass a major Stimulus Bill that focuses on hardworking Americans and Small Business."
Markets did their best Grand Canyon impression. The Dow swung as much as 600 points lower and the S&P took a skinny dip too:
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Google Finance
It was...unexpected
Last week, Trump threw his support behind a $1.6 trillion package and tweeted "GET IT DONE" from the hospital on Saturday.
So what happened? Trump said
yesterday that House Speaker Nancy Pelosi wasn't negotiating "in good
faith" and was trying to bail out Democrat-controlled states with "money
that is in no way related to Covid-19."
That's far from the end of the story, though. Later last night, Trump tweeted
that Congress should pass payroll support for airlines and small
businesses that he'd "sign now." He also said he'd support $1,200
stimulus checks sent out to the American people "IMMEDIATELY." This, of
course, contradicted his tweets from a few hours earlier, so it's safe
to say no one really knows the president's stance on the timing of more
aid.
But the stakes are incredibly high
Trump's
initial tweets came hours after a Powellful warning from the Federal
Reserve. In a virtual speech before the National Association for
Business Economics, Chair Jerome Powell said businesses and households
are facing a "weak recovery" that will cause "unnecessary hardship"
unless the government offers more support.
Powell
praised lawmakers for their "innovative" bills earlier this year. But
not afraid to wield the carrot and the stick, he warned that initial
gains could stall as businesses reopen to weak demand. And if the
recovery slows, a "tragic" escalation of existing racial and wealth
inequalities could come.
His main point: Lawmakers need to do something. "Even if policy actions ultimately prove to be greater than needed, they will not go to waste."
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Giphy
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The pandemic
may have delayed weddings and the Masters, but it did not throw off
track House Democrats’ plans to deliver a spanking to Big Tech firms
over alleged anticompetitive behavior.
After a 16-month investigation, they released their findings
in a 449-page report yesterday. The high-level takeaway? Facebook,
Apple, Google, and Amazon all enjoy monopoly power in certain sectors
and should be forced to split their online businesses from other units.
Here’s what the panel had to say:
- “Companies that once
were scrappy, underdog startups that challenged the status quo have
become the kinds of monopolies we last saw in the era of oil barons and
railroad tycoons.”
- “These firms have too much power, and that power must be reined in and subject to appropriate oversight and enforcement.”
Bottom line: If adopted, this proposal would amount to the “most significant changes to federal antitrust rules in decades,” writes Politico. That’s a big if—GOP lawmakers could push back on the more drastic recommendations.
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Francis Scialabba
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Today, the Supreme Court will hear oral arguments in Oracle's consequential legal case against Google.
- At issue: Oracle is
demanding $9 billion in damages over what it calls illegal use of its
software. Some have called it the "copyright case of the century," and
it's been marinating awhile; the case was filed in 2010.
The backstory: To
make the operating system for its Android smartphone, Google developers
used a component—the application programming interface, or API—of the
programming language and development platform Java. Oracle now owns
Java.
So Oracle
says it's owed $$$. A jury sided with Google initially, but then two
appeals court decisions favored Oracle. Google says its use of the API
is protected by what lawyers call "fair use."
A lot is at stake here. APIs are a central,
if legally hazy, pillar of modern software development—developers have
assumed they're fair game for ~20 years. Experts worry an Oracle win
would mean the consolidation of legal power among Big Tech's software
giants and a rockier path for startups.
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When we mention Slack in our e-newsletters, we aren’t just name dropping the most productive platform ever known to office-kind. At the Brew, we actually rely on Slack to Get. Stuff. Done.
So what exactly do we do on Slack?
In short: everything.
In long: Slack lets us collaborate as a team, stay organized, and avoid the dreaded workplace email-overload. As the new way to communicate, Slack replaces email with something faster, better organized, and more secure.
From
meaningful conversations about business goals to meme-ingful
conversations with our teammates, Slack keeps us on task and makes us
feel connected. It’s almost like we never really left the office.
Plus, it’s all integrated.
Slack lets you attach info from thousands of apps, share files, and
make phone calls (whatever those are). It connects to everything you
need to get your work done.
See how Slack can become your company’s new HQ today.
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Anyone who
doubts shoppers' willingness to visit stores in-person should drop by
their local Ikea on a Saturday. Yesterday, the Swedish furniture
retailer announced that massive demand for home furnishings has kept it
on track to open a record 50+ locations this year.
Still, after decades of serving customers a store experience as consistent as its meatballs, it's ready to mix things up:
- Under Ikea's "total market approach," the company is supplementing its suburban warehouse mazes with city showrooms and expanded online fulfillment.
- It's also adding kitchen planning studios, services such as furniture assembly and rental, and tech-savvy tools for customers.
- Plus: meat-less meatballs.
Even as
online sales surged 45% for the fiscal year ended in August, store
closures this spring did hurt Ikea's total revenue. But the company
still managed to welcome 825 million visitors, and consumers have
flocked back for Fjällbo since lockdowns lifted.
Bottom line: The outlook hasn't been this good for Ikea since Netflix dropped Tidying Up with Marie Kondo.
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CNBC
Bloomberg
Yesterday, Boeing said that over the next decade global airlines will need 11% fewer planes than previously forecast, reflecting a staggering and persistent drop in air passenger traffic.
Meanwhile, private jet takeoffs and landings are projected to rebound to pre-pandemic levels by next summer.
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VCG/Getty Images
Yesterday, the U.S. DOJ arrested early tech entrepreneur John McAfee in Spain.
- McAfee made his fortune
with the computer virus-fighting software you remember from fifth grade
computer class, but he hasn't been associated with it since the '90s.
The charges: tax evasion, per an indictment from June that was unsealed yesterday. It alleges
that from 2014 to 2018, McAfee dodged the tax man by funneling payments
through bank accounts set up by other people, dealing in crypto, and
buying assets (including a yacht) under other people's names.
- He may have a hard time
pleading poor—during those years McAfee made over $23 million from
selling the rights to his life story, consulting, and other work,
according to the indictment.
Zoom out: This guy is what your mom calls "quite
the character." In 2012, he was linked to the death of his neighbor in
Belize, then showed up in Guatemala, where he was arrested on
immigration charges. He then laid low until 2016, when he launched a bid
for the U.S. presidency on the Libertarian ticket.
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| | | Michigan AG Will Not Enforce Governor’s COVID Exec | | Wed, 07 Oct 2020 09:47:42 +0000 | | PatriotsNews | | | | |
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| | | Trump Presses Pelosi, Dems for 'Stand Alone' Aid Bills | | Read More | | | | Colorado Dem Campaigns as a Moderate, Obscuring Radical Record | | Read More | | | | Trump Declassifying Documents Related to Russia, Clinton Email Probes | | Read More | | | | | |
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| Florida extends voter registration by 7 hours amid website crash | | Read More | | |
| ‘Shut Those Agencies Down’ Says Rep. Nunes If Intel Does Not Release ‘Smoking Gun’ On Russia Hoax | | Read More | | |
| The Brief Podcast: Hatred & Hysteria Greet President Trump’s Covid Diagnosis |
| Read More |
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| The Brief Podcast: Hatred & Hysteria Greet President Trump’s Covid Diagnosis Read More |
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| | Source Says Declassified Memo Written After Obama Briefed On Clinton Plan To Tie Trump To Russia | | Could this be the smoking gun that finally shows the immorality and extent that Democrats went to attempt to get Hillary [...] | | | |
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Michael J. Fox Foundation and Acadia Pharmaceuticals Partner to Share Resources and Foster ... NEW YORK AND SAN DIEGO (October 6, 2020) – Today, The Michael J. Fox Foundation for Parkinson's Research (MJFF) and Acadia Pharmaceuticals ... |
Second Term?
Trump DeserveS YES
VOTE 2020
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| SOUTHWEST STRUGGLES: Airline calls for pay cuts to avoid layoffs, furloughs | | While many businesses have been able to reopen and begin the recovery process after the pandemic’s economic shutdown, ai [...] | | |
| | MIRACLE AT SEA: Colombian Woman Missing for 2 Years Found ‘Alive at Sea’ | | Read More | | | | Missouri Grand Jury Indicts Couple Who Defended Home from Anti-Police Protesters | | Read More | | | | GREEN LIGHT: Doctors Give Pence Go-Ahead to Debate Kamala Harris, No Need to Isolate | | Read Mor |
| | | GREEN LIGHT: Doctors Give Pence Go-Ahead to Debate Kamala Harris, No Need to Isolate Read More |
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| | THIS IS CNN: Network Analyst Declares President Trump a ‘Biological Terrorist’ for Leaving Hospital | | CNN analyst Asha Rangappa ripped President Trump on social media after leaving W[...] | | | |
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Fellow Conservative:
This is a
defining moment in our nation's history. What we choose this election
will define the kind of country we have and that we leave as legacy for
future generations.
It's time to reopen, rebuild, and restore our country and that will only happen if we have strong leadership.
Specifically, we must defend and rapidly grow the number of conservatives in Congress so we have leaders who will stand with President Trump and fight for a free America.
Please join me in supporting a group of conservative candidates by making a contribution to the House Freedom Fund.
Your support will help elect leaders who will fight to...
✅ Get the country back to work
✅ Allow free people and free markets to create jobs
✅ Expand health care freedom
✅ Protect our civil liberties from authoritarian politicians
✅ Hold China and the WHO accountable
Make no mistake, achieving these goals won't be easy.
Liberals want
America to become a socialist country where the elites tell us when we can leave our homes, how we can practice our faith, and who is allowed to work and prosper.
They see
COVID-19 as an opportunity to fundamentally change America, but we can
stop them if we take action right now.
Please answer the call and make a contribution today!
Working
together, we will not only rebuild our economy and strengthen our health
care system, but we will also spread the message to millions of
Americans that our country is most secure when it's most free.
Thank you for
considering this urgent request and for doing so much to make our
country great.
Sincerely,
JIM JORDAN
VOTE TRUMP 2020
U.S. Congressman, R-Ohio
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VOTE TRUMP 2020 VOTE TRUMP 2020 VOTE TRUMP 2020
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| VOTE TRUMP 2020 |
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| VOTE TRUMP 2020 |
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| VOTE TRUMP 2020 |
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| VOTE TRUMP 2020 |
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| VOTE TRUMP 2020 VOTE TRUMP 2020 |
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| VOTE TRUMP 2020 VOTE TRUMP 2020 |
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| VOTE TRUMP VOTE TRUMP 2020 |
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Trump Has Declassified Documents Related to Russia, Clinton Email Probes
Bill Gates Says Wealthy West Won’t Get ‘Back To Normal’ Until Late 2021
BLM Co-Founder Rips Apart Joe Biden
Top infectious disease experts launch drive to end lockdowns
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