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Good morning. You
might be expecting a “Morning Brew exclusive prank” today, but we
decided it’s a little overdone…unless…being too cool for April Fools’
Day is overdone…and in that case, here are three low-lift pranks to pull
today:
- Tell your coworkers they’re on mute when they’re not
- Fill your roommate’s water bottle with vodka
- Offer to give an interview to the New York Times as the captain of the Ever Given
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MARKETS 1-DAY PERFORMANCE
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*Stock data as of market close, cryptocurrency data as of 7:00pm ET.
Here's what these numbers mean.
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Markets: The first quarter is officially over, and...stocks did all right,
despite a few hairy moments here and there. The Dow gained ~8%, the
S&P 6%, and the Nasdaq 3%. As you can see from Tesla’s big gain
above, tech carried the day yesterday.
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Covid: France is closing schools for three weeks and banning domestic travel for four to combat an “accelerating” pandemic. In the US, Covid-19 was the third-leading cause of death in 2020, per the CDC. 15 million J&J doses were ruined due to a factory mix-up. But to close with some good news, Pfizer said its vaccine is 100% effective for kids aged 12–15.
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Mtattrain, MTA NYC Subway 1 trains at 125th St, CC BY-SA 4.0
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What 7-Eleven did to fountain soda, President Biden wants to do to US infrastructure.
Yesterday, Biden laid out his Big Gulp idea: a $2.3 trillion plan to revamp the country’s roads, bridges, trains, schools, housing, electric grid, and lots more.
- Btw, not
sure if we mentioned this but the plan is large: The administration said
it’d be the biggest federal investment program since Eisenhower’s
interstate highway system of the late 1950s and the Space Race of the
1960s.
The details
Four-part plans like these are what bullet points were made for:
- $620
billion for transportation projects such as transit, roads, airports,
and more. That also includes $174 billion for electric vehicles.
- $650 billion to improve your life at home, like investments in high-speed broadband and the electric grid.
- $580 billion for manufacturing, because we know how much the supply chain needs support.
- $400 billion to caregiving efforts for the elderly and those with disabilities.
Big picture: Given
the size of the bill, the WH can’t just put its card down and Venmo
everyone later. To help pay for it, Biden wants to bump up the corporate
tax from 21% to 28% and close other tax loopholes.
But that’s not good enough for many Republicans, who slammed the bill as a “Trojan horse” for tax hikes.
So why do it?
Biden sees
this plan as addressing two malarkies in particular: the climate crisis
and the growing ambitions of autocratic China.
- For the
climate, the plan “would be the most far-reaching federal investment to
date in programs that would help curb greenhouse gas emissions,” writes Axios.
- Investments in semiconductor production and other cutting-edge research are intended to match China’s burgeoning tech muscles.
Looking ahead…this is DC, after all, so gear up for a nasty legislative fight over the spring.
Looking ahead reprise...Biden
will introduce Part 2 of his economic spending proposal in the next few
weeks, called the American Family Plan. This one will focus on “social
infrastructure,” including childcare relief and aid to low-income
Americans.
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Jessica Mcgowan/Getty Images
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Kenneth Chenault, former CEO of American Express, and Kenneth Frazier, CEO of pharma giant Merck, spearheaded a letter signed by 72 Black executives to oppose restrictive voting bills across the US, specifically the one passed in Georgia last Thursday.
Some context: After
some Republican lawmakers alleged voter fraud during the 2020 election,
bills like Georgia’s have been popping up in state and local
legislatures. 250+ new voting laws have been proposed in at least 43
states, per the Brennan Center for Justice.
Critics like
Chenault and Frazier warn that the proposals could make it harder for
Black, Latino, and other minority populations to vote. The letter
encourages corporations to speak out against the bills and use their
resources to oppose them.
- Civil
rights activists took specific aim at Georgia-based companies that they
felt were staying too quiet. Following protests and calls for a boycott,
the CEOs of both Coca-Cola and Delta said they oppose the state’s new
legislation.
- “The entire rationale for this bill was based on a lie,” Delta boss Ed Bastian wrote in an internal memo.
Bottom line: Companies that proclaimed Black Lives Matter last summer are now under pressure to deliver on their statements.
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Sean Paul said “legalize it” and New York lawmakers replied, “We be burnin’.” Yesterday, NY Gov. Andrew Cuomo signed legislation legalizing the recreational use of marijuana by adults, making New York the 15th state to do so.
Two takeaways from NY’s Marijuana Regulation and Taxation Act
1. All
marijuana convictions that would not have occurred had this law existed
are now expunged, or wiped from offenders’ records. It’s part one in New
York’s attempt to repair, or at least throw some duct tape on, the War
on Drugs’s legacy.
- 40% of all cannabis-generated tax revenue will be reinvested into minority communities.
2. The bill
has provisions in place to keep the Medmens of the world from dominating
mom-and-pop marijuana operations. One of those rules: Half of all
marijuana business licenses will be granted to “social equity
applicants,” such as minority- and woman-owned companies.
Looking ahead...New
York’s cannabis economy is expected to become the second-biggest US
market (just after Cali), generating billions in sales and $350 million
in annual tax revenue once it fully lights up. But you just have to
cross the Holland Tunnel into New Jersey to see it’ll be a while before you can buy a nug at your local bodega.
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Did you know there are 48 states that aren’t California and New York? And did you know one of those states is Ohio—and that they’re doing big things in the tech and innovation space?
As the state that ranks 5th in venture capital growth, it features 3 cities that are in the Top Ten Tech Markets in the US. So basically, if you’re a 1s and 0s person, Ohio should be on your short list of places to take your business game to the next level.
You want more reasons to high-five Ohio? Here:
- Ohio has
created Innovation Districts and dedicated developments across the state
to accelerate research, develop STEM employees, and attract top-tier
talent (like you).
- Ohio invests in their workforce, upskilling incumbent workers and reskilling workers for the jobs of the future.
- Ohio’s also got 7 pro sports teams, 70 state parks, and numerous halls of fame. Just saying.
So if you’re looking to advance your career or grow your business, check out all things Ohio right here.
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Stat: US producers made 3.4% more cardboard
in 2020 than the previous year due to higher demand for shipping boxes.
Might not sound like a lot, but that increase is equivalent to 477
square miles of corrugated board, enough to cover all of New York City
with room to spare.
Quote: “The
intention was to generate awareness of an important corporate and
industry issue in the country. We regret that the announcement rollout
may have upset some people.”
VW apologized
for its horribly timed April Fools’ joke earlier this week, when it
announced that it was changing the name of its US unit to “Voltswagen.”
Time to put this story to bed...
Read: When did people start working out? (MEL Magazine)
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Apparently, not all IPOs “pop.” UK delivery startup Deliveroo went public on the London Stock Exchange Wednesday, and by the close of trading, the Amazon-backed company’s shares fell nearly 26%.
Why the under-delivery?
In a market
more crowded than a Chicken Nacho Cheese Chalupa, investors have started
to wonder how delivery services can pull a profit. The consensus: Even
with orders way up during the pandemic, they don’t. Deliveroo raked in
roughly $1.7 billion in net revenue last year, but lost $312 million.
- Across the pond, Uber Eats, GrubHub, and DoorDash all continue to dish out more money than they make, too.
The only ones winning
in this hypercompetitive market? Users who know their way around a
SUMMER20 promo code, and definitely not restaurants—which are charged up
to 35% on some Deliveroo orders.
Looking ahead...the
path to profits for delivery companies could get a lot steeper.
Following a landmark court ruling, Uber recently said its UK drivers
will receive a minimum wage and benefits, a concession that could set a
precedent for the rest of the gig economy.
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Katelyn Mulcahy/Getty Images
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From
temporary hospitals to testing centers to polling places to vaccine
megasites, stadiums have shape-shifted a lot over the last year. Let's
play ball.
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Microsoft was awarded a Pentagon contract for its augmented reality headsets that could be worth $21.9 billion over 10 years.
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The US Supreme Court heard oral arguments in its first case about the business of college sports in almost 40 years.
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Ford is slashing production at six North American plants due to the chip shortage.
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Robinhood is retiring the confetti that's appeared when users make their first trade on the platform.
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Endeavor, the owner of UFC and other sports/entertainment assets, is trying once more to go public.
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Why, Teletubbies, why?
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Meet consumers on text. 91% of consumers are interested in signing up for texts
and 55% have already signed up to receive text messages from their
favorite brands. Get findings like these in Attentive’s 2021 SMS
Marketing Consumer Trends Report. Learn what consumers want and discover
why SMS is key to customer acquisition and loyalty. Get the full report
here.
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Pretty cool video: The evolution of the desk.
ICYMI: Yesterday
afternoon, we published an epic newsletter recapping the biggest
business news stories of Q1, filled with fun visuals and a Q2 prediction
challenge. Read it here.
Brew’s Bookshelf rec: Humor, Seriously.
Stanford professors Jennifer Aaker and Naomi Bagdonas show how humor is
vital to resilience, creativity, team bonding, and even providing
effective feedback. It’s a super entertaining read that was rec’d to us
by Range author David Epstein.
Attention ad agencies: You should hire her.
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Morning Brew Sunday Edition. Coming to an inbox near you this Sunday, April 4.
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April Fools’
Day or not, we’re always down to trick you with some weird headlines.
Three of these are real, one is not. Can you guess which is the fake?
- “Researchers produce nose-only COVID-19 masks to wear while eating or drinking”
- “Man sells NFT of ‘Dunkaroos’ growing frog legs and exploding for $500”
- “British swan won't stop knocking on people's doors for hours on end”
- “Mafia fugitive caught after posting cooking show on YouTube”
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We made up the NFT one.
**ATTN: CONSERVATIVES ONLY**
We are facing a security crisis. Even worse, it was entirely avoidable!
On his first day in office, Corrupt Biden HALTED border construction
and HALTED BILLIONS in payments to finish the wall – putting our safety
at risk, prioritizing America LAST, and grossly overreaching the powers
of his office. Our Founding Fathers gave Congress the power of the purse for a reason!
Joe Biden and his border crisis are a threat to national security. That’s why we need to know what you think: Should we impeach Joe Biden for his corruption at the Border?
Should Biden be impeached?
This blatant violation of our Constitution cannot go unpunished. If
the Democrats have proven anything over the last four years it’s that
they value a political circus over hardworking Americans. And they’ll
continue to prioritize an anti-American, pro-amnesty agenda UNLESS we
take action.
April 1st, 2021
 | | Protect Your Family With The Haylo Safety Flare |
| 1,000
people die each year after getting hit on the shoulder of the freeway
because other drivers did not see them in time to avoid them. It takes
less than 60 seconds to prevent a disaster from happening to you and
your passengers Read More › | | |
| How I Fixed My Acid Reflux |
| Thousands
of Men and Women Worldwide Have Been Successful With Eliminating Their
Heartburn Pain Within 2 Days, and Curing The Root Cause Of Acid Reflux
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Read More › |
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April 01
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| FEATURED BIOGRAPHY
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| Sergey Rachmaninoff
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| FEATURED EVENT
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| 1999
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| Creation of Nunavut
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Breaking News: Michelle Finally Snaps - Melania Sent Her Over The 'Edge'
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OMG... You Won't Believe This
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Tucker Carlson asked one question about vaccine passports that stunned Fox News
Matt Gaetz had a four word response to allegations he committed this awful sex crime
[POLL] Bubba Wallace Approval Poll (cochise7787@gmail.com, you've been selected to participate)
Joe Biden had one secret meeting at the White House that is bad news for America
Fox News just hired a new host for this major show
Kamala
Harris Compared ICE to KKK, and Biden Expects Her to Fix Border
Crisis?
REAL Right Wing Americans Fly the “Don’t Tread on Me”
Flag (sponsor)
GOP
Senator Tim Scott RIPS Dems Over Filibuster Hypocrisy
Ted
Cruz details ‘caravans’ of migrants at southern border
Migrant
kids may get in-person classes before California students
_______SUBSCRIPTION INFO_______
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| ADVERTISEMENT |
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Hi There, Ohio
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