Friday, August 13, 2021

BREW WITH HEADLINES



Daily Brew

TOGETHER WITH

Blendid

Good morning and Happy Friday the 13th (luckily, the only one this year). If you’re feeling superstitious today, you aren't alone. We asked around the virtual office to find out our colleagues’ most bizarre rituals.

  • Tiffany, designer: “I listen to ‘Solsbury Hill’ by Peter Gabriel before every job interview.”
  • Jordan, director of accounting: “I wore the same Phish T-shirt (2013 summer tour) to all my CPA exams.”
  • Henry, copywriter: “At sundown before a new fiscal quarter, I take a shower and condition my hair with Hellmann's mayonnaise.”

Stay vigilant today. 

MARKETS


Nasdaq

14,816.26

S&P

4,460.83

Dow

35,499.85

Bitcoin

$44,464.75

10-Year

1.362%

Salesforce

$248.39

*Stock data as of market close, cryptocurrency data as of 6:00pm ET. Here's what these numbers mean.

  • Markets: Big Tech companies heard us dissing them this week and took revenge by propelling the S&P 500 to a record high.
  • Economy: We haven’t mentioned jobless claims here in a while, and that’s because things are generally going well in the labor market. The number of Americans seeking unemployment benefits has now dropped for three straight weeks, slowly approaching pre-pandemic levels.

DEMOGRAPHICS

We Know Where You Live This Summer

Illustration of the United States map

Every 10 years, the census helps Americans answer the deepest of questions: Who are we? And why is everyone moving to western North Dakota? 

The government dropped the first detailed results from the 2020 count yesterday, revealing a country that’s more racially diverse, urban, and Phoenician than it was in the previous tally a decade ago.

Why it matters: 

  1. Data on where people live will be used in a bruising battle by politicians to redraw boundaries for voting districts. 
  2. These numbers will be leveraged by many businesses to inform market research, expansion efforts, and local labor conditions. 
  3. It determines where governments allocate spending.

Hit me with the details

The headline stat: The US became a lot more racially diverse over the past 10 years. The non-Hispanic white population dropped for the first time on record (2.6%), falling to its lowest share of the total population on record. People who identify as Hispanic, Asian, and more than one race drove all the population growth during the last decade.

Still, that growth has slowed down: The US population increased 7.4% from 2010 to 2020, the lowest growth rate since the 1930s. It’s not good news. Less people growth = less economic growth, and a baby bust from the pandemic threatens to pinch the US’ growth rate even more.

Cities are getting bigger while rural areas empty out: “Population growth was almost entirely in metropolitan areas,” the US Census Bureau’s Marc Perry said. 52% of all counties shrank in population. 

Chris Paul knows: Phoenix overtook Philadelphia as the fifth-largest city in the US, following NYC, LA, Chicago, and Houston. The leaderboard change reflects the broader trend of people relocating to the South and West from the Northeast and Midwest. 

Meet the fastest growing metro area: The Villages, a retirement community in central Florida. Its population grew 39% over the last decade, but also shrunk three inches in height.

And the fastest growing county? McKenzie County, North Dakota, which grew more than 100% since 2010 thanks to a fracking boom.

Looking ahead...the redistricting fight, which could determine who controls the House in 2022, begins now. 

        

SOCIAL MEDIA

Wall Street Bets On Reddit

Reddit, the ancestral birthplace of memes, is now worth $10 billion following its latest funding injection from Fidelity. The social media company’s valuation has more than tripled over the past 2.5 years.

CEO Steve Huffman credited the wave of attention Reddit received for its role in the meme stock frenzy this winter for attracting new users, advertisers, and capital. 

Big picture: Despite its outsized cultural influence, Reddit’s still just a guppy swimming among sharks

  • It has 52 million daily active users, compared to Twitter’s 206 million and Snapchat’s 293 million.
  • Reddit recorded $100 million in ad revenue last quarter, which is a 192% annual increase but comes nowhere near Twitter’s $1.2 billion and Facebook’s $28.6 billion.

Still, that guppy’s booked a ride on the East Australian Current. Huffman said Reddit’s keen on upgrading its site—by, for instance, improving video sharing—and adding more staffers to a workforce that’s doubled over the last one and a half years. 

Looking ahead...Reddit’s “still planning on going public,” Huffman told the NYT...but has “no firm timeline yet.” We’ll be lurking on r/SecurityAnalysis until then.

        

SPORTS

‘Iowa Is the Place to Be Tonight’—First Heard August 12, 2021

DYERSVILLE, IL - AUGUST 12:  The scoreboard is seen before the game betw...

Daniel Shirey/Getty Images

Last night in Dyersville, Iowa, the Chicago White Sox hit a walk-off HR against the NY Yankees in the first MLB regular-season game ever to take place in Iowa, and only a short stroll-through-a-cornfield away from the field featured in Field of Dreams. You couldn't script it any better.

The backstory: The 1989 flick put the 4,000-person, three-hotel Iowa town on the map, but it wasn’t until 2016 when MLB Commissioner Rob Manfred visited the original field and thought, “Let’s get Aaron Judge out here.” The MLB initially scheduled the game for 2020, but it was pushed back because of the pandemic. 

The mayor of Dyersville, perfectly named James Heavens, said the town expected 10,000 fans, support staff, and members of the media to arrive for the game. But nostalgia ain’t cheap. The average ticket price for the game on TickPick was $1,343, compared to $803 for a World Series game.

Looking ahead...Mayor Heavens hopes Dyersville will become a regular stop on MLB’s schedule, and he may just get his wish. "I think the reception that this has received has been so positive that we will be back," Manfred said. 

        

SPONSORED BY BLENDID

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Blendid

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But we never thought we’d meet one that could whip up food and smoothies the second we rolled up on our electric skateboard.

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  • Attractive operating margin due to simple operation and limited labor need 
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Today’s your last day to invest—their funding round closes tonight at midnight PST. Get in with Blendid right here, right now—while you still can.

Giphy

Stat: Disney+ has 116 million subscribers, the company said in its earnings report yesterday. To illustrate how impressive that is, Disney initially projected that the streaming service would hit between 60 million to 90 million subscribers...by 2024. Together with ESPN+ and Hulu, Disney has nearly 174 million subscriptions, breathing down the neck of Netflix, which has 209 million

Quote: “It is very serious. It is like you’re a farmer and it doesn’t rain.” 

2021 has not been a breeze for Mads Nipper, the CEO of offshore wind company Orsted. And we mean that literally—historically low wind speeds in Europe mean Orsted’s profits will come in at the lower end of projections for the year.

Read: How millennial investors lost millions on Bill Ackman’s SPAC. (Institutional Investor)

        

QUIZ

FWD This Quiz to 13 People...or Else

Weekly news quiz

The feeling of getting a 5/5 on the Brew’s Weekly News Quiz has been compared to breaking a mirror and then immediately winning the lottery. 

It’s that satisfying. Ace the quiz.

WHAT ELSE IS BREWING

  • Britney Spears’s father, Jamie, has agreed to eventually step down from her conservatorship and make way for a new conservator.
  • US home prices jumped 23% annually to hit another record. The median price of an existing single-family home is now $357,900.
  • Adidas is selling Reebok for $2.5 billion to brand management company Authentic Brands.
  • Sony is delaying the release of the movie Venom: Let There Be Carnage by almost a month due to rising Covid cases.
  • Roughly two-in-three people in the US are currently living in areas where temps feel like 100+ degrees Fahrenheit, per the National Weather Service.

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Speak internet: Research this glossary of Reddit terms to prep for the company’s eventual IPO. 

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It’s hot: Here are nine spritzes to refresh yourself this weekend and probably the fanciest looking fruit salad we’ve seen.

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CRYPTO

The Messi Crypto Landscape

Illustration for Crypto Crash Course

Lionel Messi’s new deal with Paris Saint-Germain includes payment in cryptocurrency fan tokens. 

Everyone wants to be like Messi, but does it make sense for us pub-league players to put some of our money in crypto? 

To answer that question, we’ve launched the Crash Course on Crypto with the context, tools, and resources to help you better understand the cryptocurrency landscape. 

Because while you’re never going to become a professional soccer player, you could become a savvy investor. Give it a read here.

GAMES

Friday Puzzle

Adam and Eve play rock-paper-scissors 10 times. You know that:

  • Adam uses rock three times, scissors six times, and paper once.
  • Eve uses rock twice, scissors four times, and paper four times.
  • There are no ties in all 10 games.
  • The order of games is unknown.

Who wins? By how much?

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ANSWER

Adam wins 7 games and Eve wins 3. View the solution here.

Encyclopaedia Britannica | On This Day
August 13
Alfred Hitchcock

FEATURED BIOGRAPHY


Born On This Day

Sir Alfred Hitchcock

English-born American director

READ MORE
Hernán Cortés meeting Montezuma II

FEATURED EVENT


1521

Fall of the Aztec empire

READ MORE

MORE EVENTS ON THIS DAY

Helen Gurley Brown

Julia Child


Warren Beatty in Bonnie and Clyde

Fidel Castro

Spanish-American War: Manila

ALSO BORN ON THIS DAY







SEE ALL BIOS ON THIS DAY

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Ted Cruz Derails Democrats’ Late-Night Push To Pass Federal Election ‘Takeover’

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Sean Penn Compares Mandatory Vaccines To Drivers’ Licenses. James Woods Snaps, ‘Or Proof Of Citizenship To Vote?’

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‘Very Real Consequences’: Steve Forbes Slams American Express Over Woke Diversity Training

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U.S. Sending 3,000 Troops Back Into Afghanistan Amid Rapidly Deteriorating Situation

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Hunter Biden Caught On Video Allegedly Admitting Russian Drug Dealers Have Blackmail On Him: Reports

 August 13, 2021

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Poll: Bad News for Biden. Overwhelming Majority of Americans Blame Him for Inflation
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Facebook Protects Hunter Biden as He Sexually Exploits Woman
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Emergency first aid kit free today... While supplies last!
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First Major City to Require Proof of Full Vaccination for Indoor Activities

NEW: Top Biden Advisor and Mao Lover Anita Dunn Leaves White House

Biden Nominee Had Part Criticizing USA in Chinese State Propaganda Broadcast

Justice Thomas’ solution to Big Tech’s social and financial excommunication

Columnists
With Fires Burning at Home and Abroad, Biden Is MIA

Katie Pavlich


The End of the Father-Daughter Dance

Larry O'Connor


WaPo Fact-Checks Critics of a CDC Study, Not the Accuracy of the Study

Brad Slager


Cable News 'Death Cult' Craziness Goes Unpunished

Tim Graham


Shedding Light on Chinese Communist Party’s Domestic Propaganda Program

Todd Rokita


The Olympic Games Remind Us of the Necessity of Nationalism

Josh Hammer


Who Lost America's Longest War?

Pat Buchanan


California Liberals Flunking First Test of Government

Michael Barone


Biden Admits Green New Deal Is a Dream

David Harsanyi



Tipsheet
One City Just Implemented a Vaccine Mandate Even More Strict Than NYC's

Leah Barkoukis


We Have Yet Another Data Point That Eviscerates Liberal Media's Narrative on the Unvaccinated

Matt Vespa


DNC Chairman Jaime Harrison Makes a 'Build Back Better' Tour Stop to Boost Terry McAuliffe's Campaign

Rebecca Downs


Justice Amy Coney Barrett Weighs in on Vaccine Mandates

Rebecca Downs


Dr. Nicole Saphier Blasts 'Myopic' CDC For Ignoring Natural Immunity: 'Not Following The Science'

Scott Morefield


Supreme Court Blocks Part of New York's Eviction Moratorium

Rebecca Downs


Chip Roy Hits Homeland Security Dems Hard for Ignoring Border Crisis

Rebecca Downs


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Phill Kline


Your Government Is an Official Abuser

Gina Loudon


The War is Not Over

Thomas P. Kilgannon


The United States of Contrarianism

Erick Erickson


SCOTUS Should Reverse Roe v. Wade Because Abortion is a Crime Against Humanity

Thomas Glessner


With Latest Climate Change Report, Now Is Time for Nuclear Energy

Lindsey Stroud


Biden’s Online Banking Restrictions Would Hurt Black Americans

Martin Baker


Justice Thomas' Solution to Big Tech's Social And Financial Excommunication

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The Delta Variant Pushes a Broken Country Closer to the Edge

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GOP Rep's COVID Legislation Seeks Information on 'One of the Most Remarkable Things in History'

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Political Cartoons
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The Dangers Of Taking Gun Owners For Granted | Cam Edwards

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  Biden May Strong-Arm on Vax Mandates, but Fears Backlash

Justice Barrett Rejects Univ. Students’ Bid to Block Vax Mandate

SPECIAL: BREAKING: Multivitamin Toxin Linked To “Brain Decay”?

Texas Police Asked to Round Up Democrats After Holdout

Biden Faces ‘Saigon’ Moment as Afghanistan Deteriorates

 

Photo: Charlie Neibergall/AP

Kevin Costner, who starred in the film as Ray Kinsella, strolled through the outfield corn and onto the field before the first pitch.

  • Costner said at a press conference that even 32 years after its release, he still feels the film's tug in his gut: "Somewhere along the line, if you have some unfinished business, that movie starts to take over." (Des Moines Register)

🎥 Watch a video of Costner's entrance.

1 big thing — Behind the scenes: Embassy endangered
Taliban fighters stand guard today along a roadside in Herat, Afghanistan's third biggest city, after government forces pulled out. Photo: AFP via Getty Images

Many in the U.S. military see the race out of Afghanistan as a dishonorable withdrawal, and some State Department officials fear the U.S. may have to close the embassy in Kabul.

  • Those were some of the dire soundings Axios' Jonathan Swan took in Washington yesterday, as the Pentagon made the shocking announcement that 3,000 U.S. troops will head into Afghanistan to help evacuate Americans.

It got worse overnight: The Taliban overran the capital of Helmand province after years of blood spilled by American, British and NATO forces.

  • The Taliban has also captured the country's second and third-largest cities, Kandahar and Herat, in a lightning advance that's encircling the government in the capital, Kabul, AP reports.

How we got here: It wasn't crazy for President Biden and his national security team, including the Pentagon, to have imagined that the Afghan forces — with superior technology and manpower — could have done a much better job holding the Taliban at bay.

  • But senior U.S. officials are privately acknowledging that the Afghans appear psychologically defeated — and there was insufficient accounting for the psychological consequences of the long war.
  • The fact that U.S. officials are drawing down so soon to a skeleton staff suggests they harbor grave doubts about the embassy's viability.

Senior Pentagon officials expressed deep distress:

  • One source said we shouldn't underestimate the effect it has on the U.S. military's morale to carry out a mission — withdrawal and evacuation — that many view as dishonorable.

The U.S. is playing it extremely safe with the evacuation.

  • "All of the top people in the Biden administration lived through the pain of Benghazi," said the Atlantic Council's William Wechsler, a Pentagon counterterrorism official in the Obama administration.

Part 2 below.

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2. What Biden is thinking


In Kabul yesterday, Farzia, 28, who lost her husband a week ago to Taliban fighting, sits with her children — Subhan, 5, and Ismael, 2 — in a tent in a makeshift camp. Photo: Paula Bronstein/Getty Images

 

President Biden's senior national security team briefed him Wednesday night on the deteriorating battlefield situation in Afghanistan — and plans to dispatch forces to evacuate American personnel, Afghan translators and others who helped with the war effort.

  • At 7:30 yesterday morning, Biden's top national security advisers met to review the president's questions from the previous night, Axios' Jonathan Swan reports.

There was unanimous agreement on the order that Biden later gave Defense Secretary Austin: Thousands of Marines are being dispatched to Kabul and surrounding areas.

  • At the same time, Biden's diplomatic team in Doha, Qatar, was trying to talk sense into the Taliban. But events on the ground have made a mockery of the peace process.

Biden's key aides aren't second-guessing his decision to withdraw:

  • They derive comfort from the fact that the American public is behind them — an overwhelming majority support withdrawal from Afghanistan — and they bet they won't be punished politically for executing a withdrawal.

West Wing officials reject the notion that they could keep Afghanistan stable indefinitely with a small force of around 3,000 that they inherited from Trump.

  • The Biden team's line is that the only reason the Taliban weren't killing Americans last year was because Trump had agreed to leave on May 1 this year. When that deadline passed, they contend, there would be no way to guarantee peace and stability with such a small force.

Republicans, led by hawkish Sen. Lindsey Graham of South Carolina, are zeroing in on the larger consequences of a chaotic and dangerous withdrawal.

  • Graham sent a letter to Biden's Pentagon leaders on Tuesday asking whether they wanted to review their June assessment to Congress that the removal of U.S. troops from Afghanistan would bring a medium risk of terrorist organizations re-emerging to threaten our homeland within two years.

"The ripple effect of what's going on in Afghanistan is devastating," Graham told Axios in a phone interview. "To lose in one place hurts you in every place."

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3. Our short climate attention span
Data: NewsWhip. Chart: Danielle Alberti/Axios

The shock factor needed to jolt people into demanding climate action is wearing off on social media, Axios' Neal Rothschild writes from exclusive NewsWhip data.

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A message from Facebook

Internet regulations are as outdated as dial-up
 

 

Facebook supports updated regulations, including four areas where lawmakers can make quick progress:

  • Reforming Section 230.
  • Preventing foreign interference in our elections.
  • Passing federal privacy law.
  • Setting rules that allow people to safely transfer data between services.
 
 
4. Pic du jour: National mood
Photo: Kevin Dietsch/Getty Images

Sunbathing on the National Mall yesterday, as Dulles reached 100°F.

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5. Borders are back


Illustration: Sarah Grillo/Axios

 

The Delta variant has killed hopes that international travel will return to anything like its pre-pandemic trajectory, Axios' Felix Salmon reports.

  • Why it matters: In the decade to 2019, the number of international arrivals rose by 42%, to 2.3 billion, in a trend that seemed steady and unstoppable. Now, international borders seem set to be most countries' first line of defense against COVID for the foreseeable future.

What's happening: The fastest-growing country in pre-pandemic international tourism was China, which has kept the virus in check by means of strict controls on travel. There's now little chance of those controls being lifted any time soon.

  • Australia, which used to be a tourist magnet, now has one of the hardest borders in the world. It's extremely hard for non-citizens to enter, and even harder for citizens to leave.
  • Vietnam isn't allowing inbound tourism. When it starts, the country will insist on at least seven days of centralized quarantine — enough to dissuade all but the most avid travelers.

The bottom line: Look for strict border controls for many years to come.

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6. Mapped: Where U.S. grew, shrank

Blue counties grew, orange counties shrank between the 2010 and 2020 censuses.

Go deeper with our Big Thing from Axios PM: Axios' Stef Kight, "Census reveals a more diverse, urbanized America."

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7. Vaccine mandates exacerbate class divide


Illustration: Sarah Grillo/Axios

 

Corporate America's patchwork approach to vaccine requirements is deepening the pandemic's class divides, Axios' Hope King reports.

  • Why it matters: The new surge has upended return-to-work plans for some sectors, while others can't afford to change course.

Businesses that can and have operated remotely, like those in tech and financial services, are requiring vaccines for returning workers, while service and retail economy companies have stopped short of full workforce mandates.

  • So workers are continuing to experience the pandemic unevenly.

Keep reading.

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8. ⚾ "Hey, Dad, you wanna have a catch?"


Photo: Charlie Neibergall/AP

 

The beloved 1989 movie "Field of Dreams" came to life last night with a temporary stadium in a cornfield at the film site in Dyersville, Iowa — the first Major League Baseball game ever held in Iowa.

  • The Chicago White Sox outslugged the Yankees 9-8 for ... a walk-off ending.
Photo: Charlie Neibergall/AP

Yankees right fielder Aaron Judge watches a home run fly into the corn.

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A message from Facebook

Why Facebook supports the Honest Ads Act
 

 

Advertising means something different than it did 25 years ago — the last time comprehensive internet regulations were passed.

At Facebook, we've already implemented the Ad Library and a 5-step verification process for political advertisers.

See why we support passing the Honest Ads Act.

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