Wednesday, June 23, 2021

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Fidelity

Good morning. Sometimes good things do happen: Carl Nassib, the Raiders player who on Monday became the first active NFL player to come out as gay, has had the top-selling jersey across the Fanatics network for two days straight, per ESPN.

MARKETS


Nasdaq

14,253.27

S&P

4,246.44

Dow

33,945.58

Bitcoin

$32,637.13

10-Year

1.467%

Peloton

$117.17

*Stock data as of market close, cryptocurrency data as of 5:00pm ET. Here's what these numbers mean.

  • Markets: So far, so good this week. The Nasdaq hit an all-time high thanks to all Big Tech names climbing at least 1%. Bitcoin bungee-jumped down below $30,000, wiping out all its gains for the year, before springing back up in the afternoon. And Peloton gained after launching a corporate program to court B2B clients.
  • Politics: Brooklyn borough president Eric Adams opened a wide lead in the NYC Democratic mayoral primary, and Andrew Yang bowed out of the race.

Yesterday, Tinder announced some of the biggest changes since its 2012 launch to adapt to a pandemic-altered dating landscape. Some new features...

  • Videos: Tinder is letting users attach up to nine short videos to their profiles.
  • Hot Takes: Users can discuss their spiciest opinions before matching, available 6pm to midnight on weekdays.
  • Explore: A mode that lets you scan the virtual room before going in and striking up a conversation. 

If this all sounds like Tinder attempting to become the next TikTok, you’d be half-right. Gen Z accounts for over 50% of Tinder’s user base, and adding videos and opportunities to display an “authentic” self is intended to attract more young adults to the app. 

But CEO Jim Lanzone stressed that the company isn’t trying to become a social media platform for friends. The end goal is still to foster romantic relationships, but with pandemic-era tweaks.

Users coming out of Covid “just want to slow things down and get to know people first a lot more before they decide to match, let alone before they decide to go meet someone offline,” Lanzone told the BBC.

Some dating apps are taking a different approach

Bumble, an app known for requiring women to make the first move, is doubling down on its “Bumble BFF” feature to help nurture IRL friendships. Bumble BFF accounted for 9% of the app’s monthly active users in September 2020, CEO Whitney Wolfe Herd told Reuters.

And Match Group, which owns Tinder, recently acquired a South Korean company, Hyperconnect, that promotes conversations across borders and languages.

Bottom line: With lockdowns mostly over, people are turning to dating apps to find new friends, benefits included or not.

        

COVID

Don’t Pull Out the Sparklers Just Yet...

Yesterday, the Biden administration acknowledged that it’ll come up just short of reaching its goal of partially vaccinating 70% of US adults by July 4. If the current pace of vaccinations continues, 67% of adults will have at least one shot of a Covid vaccine by the time the fireworks start, according to the NYT.

People around Biden say, “Ehhh, close enough,” as they talk up the big rebound in the economy, which is projected by the Fed to grow 7% this year. But the miss reflects significant vaccine hesitancy in the US and the waning power of financial incentives to get people off their couch and into Walgreens. 

And a major threat looms

Covid’s hottest variant is delta, a more transmissible strain spreading around the globe that Dr. Fauci called the “greatest threat” to eliminating the pandemic in the US. Vaccines have been shown to protect against delta, but experts are warning of surges in regions with lower vaccination rates—like the South—this fall and winter.

Bottom line: Health officials are painting a portrait of “two Americas,” one in regions with high immunization rates and the other where they lag.

        

REAL ESTATE

Now Renting: Natural Blackstone Exterior

Blackstone is getting back into the rough-and-tumble business of arguing about where to hang the photos. The investment firm is spending $6 billion to acquire Home Partners of America, a rental company with 17k+ properties that gives tenants the opportunity to eventually buy their house.

Getting back into? After the 2008 crash, Wall Street firms like Blackstone scooped up foreclosed homes on the cheap. Their investments are credited with helping to stabilize local housing markets and prop up prices.

  • Blackstone bought tens of thousands of units and rented them out through Invitation Homes, now the US’ largest single-family home renter. 

But without a crystal ball to predict the pandemic-induced scramble for housing, Blackstone sold Invitation Homes in 2019. Now, the firm (and others) want back in on the soaring housing market, where last month median home prices rose almost 24% annually to break $350k. 

Big picture: Institutional investors only account for an estimated 2% of single-family rentals. But all-cash offers from Wall Street suits are frustrating some would-be homebuyers who are already up against short supplies, record-high prices, and intense competition. 

        

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GRAB BAG

Key Performance Indicators

Stat: 5.2 million people around the globe became dollar millionaires last year despite the pandemic, according to a new report from Credit Suisse. 90% of millionaires currently have a net worth of $5 million or less, while 0.4% are worth $50 million or more. 

Quote: “Very, very unlikely.”

In testimony before Congress, Fed Chair Jerome Powell dismissed the idea that the economy could experience 1970s-esque hyperinflation.

Read: The rise of the $10 million disc golf celebrity. (The Ringer)

        

TRAVEL

This Is Why We Can’t Have Nice Flights

Joke from the movie Airplane

Giphy

Sure, flight attendants might be trained in handling a drunk bachelorette party or two. But abusive passengers have become so common on flights that on Monday airline groups pleaded with the Justice Department to prosecute the worst cases.

Since the beginning of the year, the FAA has received 3,000 reports of unruly passengers—2,300 of whom were people who refused to follow mask requirements.

  • “It’s out of control. It’s really coming to the point where we have to defend ourselves,” Paul Hartshorn, spokesperson for the Association of Professional Flight Attendants, told CNBC.
  • In one instance, a passenger was fined $52k for hitting a crew member in the face and trying to open the cockpit door.

No one’s 100% sure why people increasingly want to fight someone who hands out Biscoffs, but experts point to entitlement, anxieties from the pandemic, and politicized mask-wearing for the unruly behavior. 

Big picture: In general, airlines are struggling to accommodate the rebound in demand. American is cutting 1% of July flights and Delta announced plans to hire 1,000 more pilots by next summer.

While we’re here...Someone needs to take away the FAA’s photoshop.

        

WHAT ELSE IS BREWING

  • GameStop stock jumped after the company raised more than $1 billion in a share sale.
  • McDonald’s will introduce its first-ever loyalty program nationwide on July 8.
  • Warby Parker has confidentially filed for an IPO.
  • Nursing home deaths among Medicare patients rose 32% last year, according to a new government report. 
  • Connecticut became the 19th state to legalize recreational marijuana. 

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FROM THE CREW

Talkin' Tech

In Washington, calls for more investment in public R&D for emerging tech

Francis Scialabba

Tech enthusiasts—or even cool dads and moms who have a kid working at Google—you need to make Emerging Tech Brew part of your weekly routine. Every Monday, Wednesday, and Friday, our reporters tackle tech topics like drone delivery, virtual reality, electric/driverless/flying cars, and even Twitter. It’s like talking to your most in-the-know friend, without having to hear about their tattoos all the time. Subscribe to Emerging Tech Brew here.

GAMES

The Puzzle Section

Word search: We can guarantee this is the cutest word search you’ll ever do. 

Trivia: With the arrival of Luca, it is once again time to test your knowledge of Pixar. Two Pixar movies consistently come in last on lists ranking Pixar films, such as Rotten Tomatoes. Which two movies are they? 

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ANSWER

Cars 2 and Cars 3

 

 

 




June 23
Clarence Thomas
FEATURED BIOGRAPHY

Clarence Thomas

READ MORE
 
Robert the Bruce
FEATURED EVENT
1314
Battle of Bannockburn

READ MORE

SEE ALL BIOS ON THIS DAY

ALSO BORN ON THIS DAY
1912
Alan Turing
British mathematician and logician
1972
Zinedine Zidane
French football player
1894
Edward VIII
king of United Kingdom
1964
Joss Whedon
American screenwriter, producer, and director
1948
Clarence Thomas
United States jurist
1929
June Carter Cash
American singer and actress

MORE EVENTS ON THIS DAY
United Kingdom
2016: The United Kingdom voted in a referendum to withdraw from the European Union, with 51.9 percent supporting Britain's exit (“Brexit”) and 48.1 percent opposing the move; it marked the first time a country had decided to leave the organization. [Test your knowledge of British culture and politics.]
2006: American television producer Aaron Spelling—whose credits included a number of hugely successful shows, including The Mod Squad, Family, Charlie's Angels, The Love Boat, Fantasy Island, and Beverly Hills 90210—died in Los Angeles. [Take our pop culture quiz.]
Antarctica: Paradise Bay
1961: The Antarctic Treaty was enacted, reserving the entire continent for free and nonpolitical scientific investigation. [Sort fact from fiction in our Antarctica quiz.]
Wilma Rudolph
1940: Sprinter Wilma Rudolph, the first American woman to win three track-and-field gold medals in a single Olympics, was born. [Take our quiz about the Olympics.]
Mount Logan
1925: An expedition under A.H. MacCarthy and H.F. Lambert became the first to reach the summit of Mount Logan, the second highest mountain in North America. [ Sort fact from fiction in our mountains quiz.]
Christopher Latham Sholes
1868: American inventor Christopher Latham Sholes and two others were granted a patent for a typewriter . [Test your knowledge of famous inventions.]
SEE ALL EVENTS ON THIS DAY

 June 23, 2021

NEW: Pelosi Says She Will Create Select Committee to Investigate January 6 Riot
House Speaker Nancy Pelosi (D-CA) will create a select committee to investigate the January 6 Capitol riot, according to The Hill. ... Read More ›
9 Reasons to Use Coconut Oil Daily (3 of these are shocking)
Do the words Obesity, Alzheimer‚ Heart Disease and Cancer scare you? What if there was a food that was almost as healthy as breast milk that could literally fight cancer, combat aging, accelerate fat loss and reverse Alzheimer's?... Read More ›
Police union chief: Portland politicians 'encouraged and enabled' violence
Portland Police Association Executive Director Daryl Turner (KPTV-TV Portland image)Police morale in Portland, Oregon, is "as bad as it's ever been," said the head of the officer's union after all 50... Read More ›
BREAKING: GOP Blocks Dems’ ‘Voting Rights’ Bill – Kamala Vows to Keep Fighting
The US Senate on Tuesday blocked the “For the People Act” in a 50-50 vote – every Republican voted “no.” ... Read More ›
PROJECT VERITAS: CBS 62 reporter exposes networks forced vaccination [VIDEO]
Project Veritas has just released their interview with former CBS 62 reporter April Moss exposing the network pressuring her to get vaccinated or continue with weekly testing when she didn’t... Read More ›
Nebraska Governor Sending Law Enforcement To Texas To Help Secure The Border
Last week, Florida Governor Ron DeSantis announced he will be sending law enforcement officers to Texas and Arizona to help with the completely out-of-control border crisis. ... Read More ›
The FIRST Thing You Should Do When Caught In A Mass Shooting
In the light of the most recent events, I realized that many of us are not properly prepared to ensure their & their family's safety in critical and life-threatening situations. That's why I decided to share with you…... Read More ›

 Democrats’ Election Power-Grab Bill Fails in Senate

Far-Left Dems Pressure Biden to Push for Election Bill

U.S. Residents Only: Enter to Win 50 troy oz. of PURE Silver!

Fed. Judge Dismisses Lawsuit Against Dakota Access Pipeline

Ariz. Gov. Blocks Universities from Vax & Mask Mandates

Trump holds strong: ‘I have not conceded’ the 2020 election

Leaked Teacher Training Documents Show Schools Classify ‘MAGA’ As White Supremacy

Republicans Will Introduce Bill Requiring States To Maintain Ballot Transparency

Tucker catches Don Lemon with ‘white supremacist’ home décor


Columnists
Sheldon Whitehouse Privilege

Kurt Schlichter


Sheldon Whitehouse's Racism Is Excused Due to His Opponents Using It

Brad Slager


Capitalism Makes Us Better Off

John Stossel


Ban Jeff Bezos From Earth?

Tim Graham


Equality Act Slams the Door on Religious Freedom

Star Parker


Ban Jeff Bezos From Earth?

Brent Bozell and Tim Graham


Wokeness Gone Wild

Oliver North


A Timid and Temporary Defense of the Free Exercise of Religion

Terry Jeffrey


High Court Needs To Restore Rights for the Religious

Betsy McCaughey



Tipsheet
Loudon County School Board Meeting Was Engulfed in Total Mayhem Over Critical Race Theory

Matt Vespa


Settlement Reached for Helicopter Crash That Killed Kobe Bryant

Landon Mion


DeSantis Signs Legislation Mandating Schools Teach ‘Evils of Communism and Totalitarian Ideologies’

Landon Mion


Guess Which Two Things an MSNBC Guest Mentioned when Lamenting Failure of Democrat-Only Election Bill

Matt Vespa


Biden's DOJ Backs Bill Aimed at Ending Crack, Powder Cocaine Sentencing Disparity

Landon Mion


It's Over: Senate Republicans Defeat Corrupt 'For the People Act'

Reagan McCarthy


Ex-RNC Chairman Goes Through a 'Remarkable Evolution' On the Filibuster...And That's Not a Good Thing

Matt Vespa


ADVERTISEMENT
Obama-Biden Retreads Prepare to Kowtow to Tehran's Brutal Hangman

Austin Bay


Delay of US-Canada Border Reopening Raises Questions

Rachel Marsden


The 'Endless Frontier Act' Slush Fund Is a Bad Idea

Horace Cooper


The Feds Can't Compel States to Enforce Restrictions on Guns or Immigrants

Jacob Sullum


Unless Checked, Judges’ Power to Unfairly Punish Could Be Used Against January 6th Defendants

Bob Barr


The Movement Against Critical Race Theory Is Deeply Necessary

Ben Shapiro


There’s a Reason Why Democrats Can’t Get Their Election Bills Passed

Jason Snead


Stop Perpetual Election Fraud Bill

John and Andy Schlafly


The American Dream

Catalina Lauf



EXCLUSIVE: Letter to Save Hyde Amendment Gains New House Member

Rebecca Downs


Well, That’s Not the Retirement Message Some Employees Were Expecting from a Diversity Consultant Firm

Matt Vespa


Joy Behar Reveals She's Still Nervous About Gathering with Large Groups Despite Being Vaxxed

Julio Rosas


Political Cartoons
Bearing Arms
Did COVID Restrictions Make The Case That The Second Amendment Is "Essential"? | Cam Edwards

Gun Used In NZ Crime Supposedly Destroyed By Police | Tom Knighton

Massachusetts Gun Control Fail Caught On Camera | John Petrolino

Is This The End For "Defund The Police" Movement? | Tom Knighton

Armed Citizen In Ohio Puts Down Robber Permanently | Tom Knighton

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1 big thing: The Democrats' wake-up call

FILE: Senate Majority Leader Mitch McConnell (R-KY) speaks to reporters following the Senate Republican policy luncheon which both President Donald Trump and Vice President Mike Pence attended on March 10, 2020 in Washington, DC.
GOP filibuster blocks Democrats' big voting rights bill »

A photo of the U.S. Capitol during sunrise in Washington, D.C.
Washington struggles to find compromise over infrastructure costs »

 

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