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TOGETHER WITH
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Good morning. Many
of you have been asking, “Hey, Brew, where’s the snow plow coverage?”
We have heard your feedback loud and clear. Here are the latest industry
updates.
On Tuesday,
the Minnesota Dept. of Transportation released the winners of a contest
to name its snow plow fleet. The most popular names include Plowy
McPlowFace, Snowbi Wan Kenobi, Plow Bunyan, and The Truck Formerly Known
As Plow.
Let’s zip to
Scotland, which has been naming its snow plow fleet since 2006 and
recently released some new monikers. Our favorites: License to Chill,
William Wall-Ice, and Sweet Child O’Brine.
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NASDAQ
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13,075.71
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- 2.12%
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S&P
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3,842.07
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- 0.73%
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DOW
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31,450.28
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+ 0.19%
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GOLD
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1,712.00
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- 1.25%
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10-YR
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1.476%
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+ 7.10 bps
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OIL
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61.29
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+ 2.58%
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*As of market close.
Here's what these numbers mean.
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Markets: The Nasdaq got clobbered
(again) as investors pulled out of Big Tech and other stocks that
boomed during the pandemic, such as Etsy. Today’s main event is Fed
Chair Jerome Powell, who will likely address investors' growing concerns
over inflation at a WSJ summit.
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Stimulus: With Senate negotiations ongoing, President Biden agreed
to lower income caps for the $1,400 direct payments included in his
stimulus bill. The cap for receiving some amount of payment is now
$80,000 for individual filers.
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Covid: The vaccine floodgates are
opening little by little. As Johnson & Johnson’s single-dose shot
gets distributed, more states are expanding eligibility to people of younger ages.
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Francis Scialabba
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Yesterday,
Google announced the biggest shakeup in advertising strategy since
Verizon's "can you hear me now" guy joined Sprint.
First, it confirmed that it plans to phase out
the practice of letting companies track users across the web using
cookies by next year. Then, it pinky promised not to create an equally
invasive workaround despite the potential hit to its money-printing
advertising businesses.
Why it’s a big deal: Cookies are little crumbs of digital information that companies, advertisers, and websites have used to track your movement
across the web. To a certain extent, the modern advertising businesses
of internet giants like Google and Facebook are built on the buttery
backs of cookies.
But in
recent years, browsers including Safari and Firefox have restricted the
use of cookies out of growing concern over user privacy. Google’s
uber-popular web browser, Chrome, was one of the last major browsers to
still support the practice. But now that Chrome (with its 60% market
share) is phasing out cookies for good, the one-time tracking snack of
choice is heading down the garbage disposal.
You’re still going to get targeted ads
But the
mechanisms that power them are changing. Currently, using cookies,
Google can see that a user was shopping for a new golf bag on Amazon,
then later serve them a Callaway ad next to a Golf.com article. This
online Sherlock Holmes-ing is the reason why it can feel like a product
is following you around the internet.
Now, through a program called “Privacy Sandbox,” Google is testing a way for companies to target ads to groups
of users with similar interests instead of directly to individuals.
That way, businesses can still serve targeted ads, but your specific
user data is a little more private since Google is essentially hiding it
in a crowd.
Zoom out: One of the biggest challenges of phasing out third-party cookies was finding a suitable replacement
for them. Yesterday’s announcement shows that Google feels comfortable
enough with the new castles it’s building in Privacy Sandbox to destroy
the old ones.
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Getty Images/Lynda M. Gonzalez
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On Tuesday,
Texas Governor Greg Abbott scrapped the state’s mask mandate and said
that businesses of any kind would be allowed to operate at full capacity
beginning March 10—next Wednesday. The fallout is splitting the Texas business community like burnt orange versus maroon and white barbecue.
- Retailers
including gym operator Life Time Fitness, grocer Albertsons, and some
local restaurants have dropped mask requirements, plan to return to
normal capacity, or both.
- Others, including Hyatt, Target, Starbucks, and CVS, say they’ll keep mask requirements in place.
Many health experts argue the moves could lead to a resurgence
of the virus, and some business owners say they’re worried because the
statewide mask mandate gave them cover when dealing with mask-resistant
customers. But especially hard-hit sectors such as gyms and food
services are desperate for normal operations to resume.
Zoom out: In the last week, other governors have also said they'll ease restrictions, including in Mississippi, Iowa, and Montana.
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Francis Scialabba
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In the
energy biz, attention is turning toward an expensive but enticing way to
reduce emissions: carbon capture, a process where pollution
is...captured, then stored underground.
Industry giant Exxon Mobil said yesterday
it plans to increase investment in carbon capture tech, which it pegs
to be a $2 trillion market by 2040. Exxon Mobil has, up until now,
resisted carbon capture, but it's recently come under pressure by an
activist investor to reduce its CO2 output.
- Axios notes
that, despite emission-reducing initiatives, fossil fuels remain the
meat and potatoes of Exxon’s and other oil majors’ operations.
Newly minted
US Energy Secretary Jennifer Granholm also delivered a tough-love
message to fossil fuel companies in her first official speech yesterday,
emphasizing that a transition to clean energy will happen come hell or
high water—because climate scientists predict both. The Biden
administration aims to purge all carbon emissions from the economy by
2050.
Zoom out: Last month, Elon Musk launched a contest to identify promising carbon-capture projects, offering a $100 million prize for the best.
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You bust
your butt working all year in anticipation of receiving your tax
refund—and all the different ways you can spend it. But what if you
turned the tables on that tax cash and made the money work for you?
We’re talkin’ about investing in the preferred asset class of the wealthy: Private market real estate.
DiversyFund makes diversifying your platform easy peasy lemon squeezy. WIth as little as $500, you can be investing in asset classes that are traditionally reserved for the 1%.
Unlike the
stock market, private real estate is a time-tested asset with way less
daily volatility. DiversyFund works as a partner—not a broker—so you can
avoid broker fees and invest in million-dollar deals without writing
million-dollar checks.
Now get this: DiversyFund is hosting a $25k cash giveaway until March 15. New customers who fund an account using the promo code WIN25K will be entered in a raffle to win $25k.
Start investing with DiversyFund today.
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Spencer Platt/Getty Images
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Quote: “We’re losing people to Tampa?”
NYC mayoral candidate Andrew Yang told Bloomberg he was depressed
after learning that Goldman Sachs was opening up a branch down in
Tampa. If it feels any better, Mr. Yang, Bill Belichick said the same
thing last year.
Stat: The NBA’s Minnesota Timberwolves have the worst winning percentage
in the history of US sports, according to calculations from the Reddit
user u/TheRatPatrol. The Timberwolves winning percentage dropped to
0.393 this week, falling below the Tampa Bay Buccaneers (whose win-loss
record is 278-429-1) as the most unsuccessful active sports franchise in
the country.
Read: How to build an artificial heart. (The New Yorker)
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Netflix
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In the
all-out war for your eyeballs and thumbs, Netflix just brought in some
surprise reinforcements. Yesterday, the streaming giant launched
“Fast Laughs,” a TikTok-esque mobile feature that allows iOS users in
some countries to scroll through comedy-focused short clips of Netflix
shows.
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For example: Fast Laughs might surface a funny scene from Big Mouth.
The clip serves the purpose of 1) being entertaining to watch and 2)
reminding you that you might not have finished the first season because
watching with your parents was getting a little uncomfortable, but now
you're ready to dive back in.
And Netflix makes the diving-back-in very easy.
Fast Laughs users can send the clip to their friends, add the show to a
watch list, or, most importantly, start watching a full episode
immediately.
Bottom line: Netflix
isn’t trying to create the next Ocean Spray-skateboarder moment. But it
does want to convince users to spend more time on its app by giving
them something different and “Netflix-y” to scroll through on their
phones.
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NY Gov. Andrew Cuomo
said he plans to remain in office following multiple allegations of
sexual harassment. “I now understand that I acted in a way that made
people feel uncomfortable,” he said.
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US infrastructure earned a C- grade from the American Society of Civil Engineers. Hey, at least that’s better than the D+ in 2017.
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SpaceX's
Starship prototype stuck the landing in its third flight test...but
then blew up while sitting on the landing pad a few minutes later.
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Facebook is lifting its ban on political advertising today.
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Amazon is in talks with the NFL to air a "significant number" of Thursday night games exclusively on Prime Video, per the WSJ.
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Alamo Drafthouse, the movie theater chain known for its dine-in service, filed for bankruptcy.
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Save five hundo on your next trip-o. For the next 48 hours, try Dollar Flight Club for just $1.
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Two videos that are pleasing to the eye: Watch 1) how cats walk to reduce noise and maximize stealth and 2) the perfect marriage of Bugs Bunny and classical music.
If you liked SimCity...moonlight as a city planner and build your perfect street, or create the most chaotic street you can dream up.
For when sriracha gets old: 30 epic condiments to spice up your cabinet.
*This is sponsored advertising content
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Morning Brew x SuitUp
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Giving back.
Specifically, spending a virtual week with some brilliant high school
students to show them what a career in media can look like (see above)
and how to build a successful product.
If your
company is interested in meeting the next generation of business leaders
(and maybe even inspiring them to come work with you), check out SuitUp.
The Brew recently partnered with the nonprofit on a week-long
mentorship program and business case competition, and all our volunteers
and students walked away having learned something.
Learn more about SuitUp here.
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Like
Salvador Dalí, our headline quiz specializes in serving up the surreal.
Let’s put your grasp of reality to the test: Three of the following news
headlines are real, but one is made up. Can you spot the fake?
- "Easter Peeps from thirteen years ago found for sale in Iowa grocery store"
- "Surly seal spotted on Charlottetown sidewalk apprehended by police"
- "Reese’s is launching a new all-peanut butter cup"
- "A 'space hurricane' hovered above the North Pole for about 8 hours, study says"
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We made up the Peeps one.
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| FEATURED EVENT
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| 1933
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| Inauguration of U.S. President Franklin D. Roosevelt
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| FEATURED BIOGRAPHY
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| Miriam Makeba
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March 04
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SEE ALL BIOS ON THIS DAY
| MORE EVENTS ON THIS DAY
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1681: William Penn secured from King Charles II of England the colonial province of Pennsylvania
in North America, hoping to provide a refuge in the New World for Quakers and other persecuted people and to build an ideal Christian commonwealth.
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| ADVERTISEMENT |
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Watch
DeSantis SLAM Biden for Sacrificing Your Children to These Horrible
People
Biden
Hosts Meeting with Mexico And Drops One Word Showing Its All A Sham
Would You Still Wear a MAGA Hat to Show Support for
Trump? (sponsor)
Ted
Cruz EXPLODES on Chinese Communist Party From Senate Floor
Tyrus
blasts treatment of Dr. Seuss: ‘I don’t like it here or there…
anywhere’
March 4th, 2021
Senate confirms Rhode Island governor as Biden's commerce secretary »
GA House passes 4 key election changes to ensure 2020 disaster never repeats
CNN Tried to ‘Fact-Check’ Mike Pence’s Op-Ed. It Backfired
NY Voters Want Cuomo To Resign Over Nursing Home Scandal And Sexual Harassment
FBI official: No guns recovered during Capitol riot arrests
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