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TOGETHER WITH
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Good morning. 60 years ago today, Yuri Gagarin became the first human to enter outer space. A few interesting facts about that feat:
- He was just 27 years old.
- 567 people have gone to outer space since.
Here’s an
interesting question: If 568 people have traveled to space in the last
60 years...how many will go in the next five? Our completely uneducated
guess is ~500 additional people will go to space by 2026.
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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: Stocks heated up in April
and have posted meaty year-to-date gains, as you can see above. Energy
and financials are having a big 2021 after getting clobbered by tech in
2020.
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Covid: The US hit a daily record for vaccines administered on Saturday: 4.6 million!
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Economy: On 60 Minutes last night, Fed Chair Jerome Powell said the economy is at an “inflection point,” meaning if the US is able to defeat the virus in the coming months, we could see big job gains and growth ahead.
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Francis Scialabba
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We’ve faced a
number of shortages over the past year—toilet paper, GrapeNuts, joy.
But one shortage continues to stand above the rest in its ability to
damage the global economy: semiconductors.
Senior execs from almost 20 companies are heading to the White House today to discuss the current chip shortage and ensure more supply chain chaos doesn’t break out in the future.
- The
roster includes leaders of Ford, Intel, and Alphabet, highlighting how a
tiny piece of technology is critical for the everyday operations of a
wide range of industries.
How did this start?
As the world
went into hibernation in spring 2020, manufacturers called up their
chip suppliers and said, “Welp, looks like we won’t be needing much of
your stuff in the near future.”
But the economic crisis took a very different shape than originally projected, and demand, instead of dipping...spiked.
People loaded up on electronics as they worked/studied/gamed at home.
Flush with stimulus checks and wary of public transportation, Americans
kept buying cars.
But because
they dramatically lowered their chip orders, car manufacturers were
stuck making jigsaw puzzles with a missing piece.
- You can’t
put 100% of the blame on Covid. That wild weather in Texas and other
factory hiccups also knocked out chip production, compounding the
problem.
But it’s a big problem
The chip
shortage has affected “virtually every major car company in recent
months,” according to the WSJ, forcing automakers to halt production of their most popular cars.
- Both GM and Ford said the shortage could knock profits by at least $2 billion.
- Sony said the chip shortage is the reason why there are so few PS5s available.
Looking ahead...don’t expect today’s WH meeting to conclude with a “mission accomplished” banner. Covid-19 exposed deeper, systemic issues
within the semiconductor supply chain (over-reliance on China, simply
not enough chipmakers). Those will take years and hundreds of billions
worth of investments to resolve.
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Giphy
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A new analysis from the Wall Street Journal found that chief executives’ median pay at 322 major public US companies rose to $13.7 million last year, up from $12.8 million in 2019. 206 of the 322 CEOs surveyed received a raise, with a median increase of nearly 15%.
It’s more than a simple pay bump. Salary
accounts for less than 10% of most major CEOs' total comp, and many
trimmed those salaries early in the pandemic to boot. Instead, CEOs are
forming new money piles with equity and bonuses.
Case in point: Paycom CEO Chad Richison
He’s the newly crowned highest-paid CEO
in the S&P 500 with a total compensation of $211 million in 2020.
And that package is covered with the human equivalent of catnip to keep
Richison motivated: 1.61 million restricted shares that will vest if the
company hits stock price targets.
It’s not
just CEOs securing the bag: Chris Cox was awarded about $69 million to
take back his title of Chief Product Officer at Facebook in 2020, and
will receive $4 million more on his one-year anniversary.
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UCF Football on Twitter
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It was a busy weekend in the wide world of sports biz. Cue the SportsCenter theme music.
The future of college football? The University of Central Florida allowed its players to wear their social media handles
on the backs of their jerseys during the spring game on Saturday. “This
is a new age of personal branding. We’re going to embrace it,” said UCF
coach and verified cool dad Gus Malzahn.
The Timberwolves are getting new owners: Fresh off losing a bidding war for the NY Mets, baseball star-turned-businessman Alex Rodriguez is teaming up
with e-commerce legend Marc Lore to buy the NBA’s Minnesota
Timberwolves and the WNBA’s Minnesota Lynx. The current owner of both
teams, Glen Taylor, bought the Timberwolves in 1994 for $88
million...he’s selling it for $1.5 billion.
Golf history: With his victory at the Masters, Hideki Matsuyama became the first male Japanese golfer to win a major tournament. Japan is very into golf—it has as many courses as the UK + Ireland combined.
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SPONSORED BY ATHLETIC GREENS
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Just reading about the 75 vitamins, minerals, and whole-food sourced
ingredients in every scoop of Athletic Greens has us at our most
efficient and dialed-in—we’re like marketing maestros over here.
Athletic Greens works to fill
gaps in your nutrition, increase your energy and focus, aid your
digestion, and even offer immune support all in one product.
Which, like, usually we don’t just list a bunch of stuff, but there’s just SO. MUCH. STUFF.
That’s why
Athletic Greens is one of the most nutrient dense nutritional beverages
on Planet Earth (and Mars too, but the bar is low)—and they have the
quality to match.
So if you’re like us and very busy and perpetually late, Athletic Greens is the one scoop to rule them all.
Upgrade your nutrition routine and get a free year’s supply of Vitamin D and 5 free travel packs with your order.
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Stat: Nearly 70% of US teens own AirPods, according to a new survey from Piper Jaffray. 88% have an iPhone.
Quote: Chinese vaccines “don’t have very high protection rates.”
Gao Fu, the director of the China Centers for Disease Control, admitted
on Saturday that the country’s vaccines don’t exactly give Covid-19 a
knockout blow. One study from Brazil found that the vaccine from the
Chinese company Sinovac was 50.4% effective, compared to Pfizer’s 97%.
Fu said the government is looking for ways to boost effectiveness.
Read: America is about to go Botox wild. (The Atlantic)
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Francis Scialabba
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Economic data: The
biggest report of the week is Tuesday’s Consumer Price Index, which
will reveal how worried we should actually be about inflation. Retail
sales (Thursday) and housing starts (Friday) are two other data points
to watch.
Earnings: Earnings
season is upon us—get hyped. Big banks including JPMorgan and Wells
Fargo kick off the festivities on Wednesday; other companies reporting
quarterly financials this week include PepsiCo and Delta Air Lines. Side
note: Corporations have trounced analyst expectations for the past three quarters.
Everything else:
- Coinbase will go public on Wednesday
- Ramadan begins today
- On Saturday, all US National Parks will be free to enter
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More than 100 business leaders hopped on a Zoom call to talk about voicing more criticism of controversial voting bills, per the WaPo.
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Iran
called a blackout at one of its nuclear sites "nuclear terrorism." We
don't have many details, but experts are suggesting it may have been a
cyberattack carried out by Israel.
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The Chinese government fined Alibaba a record $2.8 billion as it ramps up antitrust oversight of its own tech giants.
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LG Energy and SK Innovation, two South Korean battery makers, agreed to settle a dispute that could have threatened the US’ electric vehicle ambitions.
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Microsoft is in talks to buy AI company Nuance Communications for $16 billion, per Bloomberg.
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The WSJ is at a crossroads.
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We’ll take our burger medium robot. Flippy is
the burger flippin’ robot set to revolutionize the QSR industry,
helping businesses increase margins by about 300%. Don’t flip out, but
you can invest in this cash cow of a robot here.*
Meet this free meat. ButcherBox
delivers only the highest quality meat directly to your door. And now
new members can get The Essentials Bundle—that’s 7 lbs of chicken
breast, pork chops, and ground beef—for free with their first box. Get $10 off your box and The Essentials bundle here.*
Life hacks: Someone on Reddit asked about life hacks that seem fake but are actually real. Check out the answers.
Dive back into the week:
*This is sponsored advertising content
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The company Blue Yonder just filed confidentially to go public. Can you guess what it does from its logo?
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You only need 5 more referrals to receive Morning Brew stickers.
If there’s one thing we know about laptops, it’s that they hate being naked. Get your comp some fresh Morning Brew stickers.
Hit the button below to learn more and access your rewards hub.
Click to ShareOr copy & paste your referral link to others:
morningbrew.com/daily/r/?kid=a17a7110
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Supply chain software
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| ADVERTISEMENT |
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April 12th, 2021
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Let the Gun Grab Begin | |
Ray Cardello. April 10, 2021The only thing missing in the Rose Garden
on Thursday when President Joe Biden started his assault on the Second
Amendment was Beto O’Rourke wearing a t-shirt proclaiming... Read More › | | |
Another State Prepares for Audit of Controversial Voting Machines
Matilda Cuomo: Your Sons Are Scostumati!
Liar Alert: Biden Orders Commission to Study How Dems Can Pack the Supreme Court
Hypocrisy: Days After Whitmer’s Travel Warning, Top Aide Posts Holiday Pictures
NATIONAL STORIES
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