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Joe Anderson |
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Stock WatchSurprise: new Stock Watch graphic! As we continuously tweak Sunday Edition to make it a better reading experience for you, we decided to update Stock Watch to a) increase readability and b) include more commentary on timely events. | ||||||||||
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Icebreakers With...E-Commerce Mogul Marc LoreMarc Lore Marc Lore has been dubbed the “LeBron James of e-commerce” for his many accomplishments, most notably founding Jet.com and selling it to Walmart. He recently left running Walmart’s e-commerce division to get his hands dirty with new initiatives, like buying the Minnesota Timberwolves with A-Rod. We talked to Marc about his next steps and how he managed to qualify for the US national bobsled team. You’ve said your next project is to build a city of the future supported by a “reformed vision of capitalism.” What about capitalism needs reform? Income and wealth inequality is a result of capitalism as we know it today. And the problem that we will continue to face is that, in spite of all the material progress, there's always a class of workers who just barely sustain a living. Take land appreciation for example—especially in the early days when land went from being virtually worthless to worth something when you've actually built a city. Land appreciation is caused by primarily two things: First is when people build communities, other people want to join those communities and live in those locations. The second is about the tax dollars that go to infrastructure to support the city: roads, bridges, tunnels, subways, things like that, which increase the value of land. It seems to me that the fair way to do it would be for all this land appreciation—appreciation caused by the people within the city—to benefit those citizens and come back to them. We're calling it Equitism. And it’s about being more equitable and giving citizens an ownership stake and, as the city does better, the residents do better. You’ve said that the “vision, capital, people” (VCP) framework is fundamental to every business. Rank those three factors by importance. That’s a tough one and really against the framework. VCP isn’t hierarchical—they all really play hand-in-hand. But if I had to pick the top spot I’d say people. Like most entrepreneurs, I didn’t put enough importance on the Chief People Officer or Head of HR function early on in a company’s existence. And now in the startups that I’m creating today, the Chief People Officer is typically the first hire, because people are the most important asset within a company. Having a really strong Chief People Officer can help set the culture and values and bring in the very best, most diverse talent. Vision is probably next. It’s crucial to spend a lot of time on the vision, making sure it’s super clear and everybody knows where you're headed. Then, of course, it’s all about raising capital to put that plan into action. What will be the most disruptive force in e-commerce in the next 10 years? I think we’ve only touched the surface of conversational commerce. By 2040, the retail search engine will be what the CD is today. Just imagine kids 20 years from now—they’re going to be shocked to hear that we had to use a search engine when buying something. The fact that we actually had to type in what we wanted, look through thousands of options, filter by price, colors, style, and then read through reviews. In the future, buying something will be like having your own personal Jarvis. It’ll know your preferences and likes/dislikes as well as your best friend does. In the future, you’ll just say, “I need a toaster,” and one within your price point, aligned with your kitchen style, and the colors in your home will arrive that same day or even within the hour. What is a fact that most people don’t know about you? People always love hearing my bobsledding story. I was in my twenties and working in banking. One day I was having lunch down at the World Financial Center, and I see a bobsled track set up...for like five bucks you could come down, push the sled, and they’d time you. That was fun and interesting, but more interesting was that they were going to take the fastest time of the week and send the person to the US national team training camp. The next day, I brought my sneakers, pushed the sled, and the guys there were like, "Whoa, that was the fastest we've seen anybody push the sled so far." It turns out I had the fastest time of the week and they invited me to Lake Placid to train for the next month. At the end of the month, there were tryouts and the top 13 would make the US national team. I finished 13th. What would you write on a gigantic billboard? The values create the value. When I graduated college in 1993 and started in banking I was making a $34k salary. The first thing I did was put a sign in my cubicle that read: SALARY GOAL 6 figures by 26 While those were ambitious goals, they weren’t backed by purpose. I grew up a mercenary. I was born thinking that jobs were all about making money. I couldn't have been more wrong. Becoming a missionary was learned, and, when I became one, my career took off. I’d love for people to learn that earlier than I did. |
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Let's Get This Bread | ||||||||||
Each week, our workplace whisperer Shane Loughnane answers reader-submitted questions about work in 2021. Anything you need some help with? Ask Shane here. I absorbed the job of two people but I’m only being paid the median of the first (lower level) job. I get that times are hard, but I feel undervalued and under-compensated while others make close to six figures. How do I push for a fair raise without sounding insensitive, greedy, or insulting? —Shannon, CA One of the best-kept secrets of the first stretch of my career was that a small handful of my colleagues were discussing compensation goals with their supervisor every few months, while the rest of us were patiently waiting for a bank error in our favor. You are your most important advocate and it’s incumbent on you to kickstart the dialogue, since most companies aren’t sitting around thinking, “Where can we spend more money than we have to?” When you do make the pitch, keep it centered on you. While useful in helping to determine a fair ask, comparing yourself to others is rarely the best approach in practice—it’s unlikely that you know everyone’s unique circumstances, and that’s an easy way to lose control of the conversation. Instead, focus on the great things you are doing to add value and the measurable outcomes of your work (especially those that underpin key financial metrics) by tying your deliverables to the goals and objectives of the business wherever possible. While it’s fine to acknowledge that times are hard, there will always be a reason for your employer not to show you the money (don’t recommend this approach, btw). Running a business requires constant evaluation of how best to allocate finite resources. Not only is it reasonable—and decidedly not insensitive, greedy, or insulting—to ask that your employer consider the fair value of your contributions, but most managers would prefer a little candor now over an unexpected resignation later from an employee they may never have known was feeling undervalued. A Shane by any other nameLast week I invited Brew readers to join the ranks of friends, colleagues, and countless exasperated schoolteachers in attempting to correctly pronounce my last name. Impressively, a few of you stepped up and nailed the correct answer, which is in fact, “Lock-nane.” As for the rest of us, I think Michael from NC probably said it best: “I’m fairly confident that Loughnane is pronounced ‘L-off-nan,’ but most confident that, when confronted with Loughnane, the correct pronunciation is ‘Shane.’” Coming soon...HR Brew. Be one of the first subscribers to our upcoming newsletter on all things human resources. |
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The Great Havana Syndrome Mystery | ||||||||||
Sean Gallup/Getty Images This summer, at least two officials at the US embassy in Germany felt so sick they couldn’t work. They complained of ear pain, splitting headaches, dizziness, insomnia, and fatigue. It felt like they were just sacked by Michael Strahan, or had stood close to a massive explosion. Turns out, they were suffering from an illness experienced by dozens of US diplomats and intelligence officers around the globe in recent years: Havana syndrome. Havana syndrome first showed up in—no surprise here—Havana, Cuba, in 2016, when CIA officers and State Department employees first reported distress. In the years since, reported Havana syndrome cases among US foreign officers have popped up in Moscow, China, London, Virginia, and, most recently, Vienna and Germany.
What’s causing it? Health officials aren’t sure, but they’ve suggested what’s happening to these victims is not unlike what happens to a Hot Pocket when you heat it up. Last year, a committee of 19 experts said their best guess was that victims were hit with “directed, pulsed radiofrequency energy” that includes microwaves. Who’s behind it? Let’s see...mysterious microwaves directed at American officers in cities all over the world...sounds like something straight out of the Cold War playbook. Bingo. Officials working for both the Biden and Trump administrations have privately blamed Russia’s military intelligence unit, the GRU, whom they suspect may be using the pulsed energy attacks to steal data from computers or smartphones.
Russia has denied all involvement in the radiofrequency attacks. Looking ahead...we wish this story had a neat and tidy conclusion, but there remain many questions and few answers. Lawmakers are putting increased pressure on the White House to solve this mystery, or risk putting more US foreign officers in harm’s way. |
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Open HouseWelcome to Open House, the only newsletter section that wants to know your order at Dunkin’. We’ll give you a few facts about a listing and you try to guess the price. | ||||||||||
Atlantic Visuals Today’s property is the famous “Skinny House” located in Boston’s North End. According to legend, the house was built by one spiteful Civil War soldier to block sunlight from reaching his brother’s house, so it smells of exposed brick and vengeance. Here’s what else it’s got going for it:
How much for a (really small) slice of Boston history? |
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Just Click It1. What happens when all of your co-workers quit? (The Cut) Built for your big things. American Express® Business knows business owners have unique needs, so their Cards come packed with benefits to help you take on big projects. Choose the Card that can help you do big things right here.* *This is sponsored advertising content |
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Meme BattleWelcome back to Morning Brew's Meme Battle, where we crown a single memelord every Sunday. Today's winner: Irfan Hashmi in Dallas, TX | ||||||||||
This week's challenge: You can find the new meme template here for next Sunday. Once you're done making your meme, submit it at this link for consideration. |
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$1.2 million |
With criticism of President Biden mounting around the world, the Pentagon today ordered the emergency use of 18 U.S. commercial planes to transport Afghan evacuees after they've flown out of Kabul.
- Under Civil Reserve Air Fleet powers going back to the Berlin Airlift after World War II, Defense Secretary Lloyd Austin activated four planes from United ... three each from American, Atlas Air, Delta and Omni Air ... and two from Hawaiian Airlines. Go deeper.
- In a tragic sign of the mounting panic among those who fear being left behind, seven Afghan civilians died in a sweaty crush outside Kabul's airport.
What we're hearing: Fears are rising in Washington that many, many of the thousands of Afghans who helped the U.S. over the past 20 years — at great risk — will be prevented by the Taliban from escaping.
Stampedes have been caused by Taliban fighters firing into the air to drive away those desperate to get out of the country, AP reports.
- U.S. and British troops in full combat gear tried to control crowds — big enough to be seen in satellite photos — in 93° heat.
Tropical Storm Henri is on track to make landfall on eastern Long Island or in southeastern New England as soon as midday, Axios' Andrew Freedman reports.
- Ferry service from Martha’s Vineyard and Nantucket to the mainland is canceled until at least noon, stranding tourists waiting in cars.
Between the lines: Henri's winds weakened just below hurricane force.
- However, the threats are the same: widespread power outages, coastal storm surge, and likely the biggest danger of all — inland flooding from torrential rains.
big thing — Kabul panic: U.S. enlists commercial planes |
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The Sunday Times, London What they're saying: Tony Blair, the British prime minister who deployed troops to Afghanistan 20 years ago after the 9/11 attacks, writes on his website that it's "obvious that the decision to withdraw from Afghanistan in this way was driven not by grand strategy but by politics": We did it in obedience to an imbecilic political slogan about ending "the forever wars" ... Russia,
China and Iran will see and take advantage. ... The disarray of the
past weeks needs to be replaced by something resembling coherence.
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2. Biden recess plan omits Afghanistan |
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President Biden in the Situation Room yesterday. Photo: The White House The White House is downplaying Afghanistan during outside-the-Beltway events, hoping voters will pay more attention to President Biden's big spending plans, Axios' Alexi McCammond reports.
White House senior adviser Neera Tanden didn't mention Afghanistan once when we asked her how much the events of the past week will affect what Biden can accomplish on the Hill.
Behind the scenes: Since joining the White House in May as senior adviser to President Biden, Tanden has kept a low profile. But her role, after losing a confirmation fight to be Biden's budget director, is setting her up to have outsized power in helping sell the Biden agenda. |
3. Henri hammers Northeast |
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Photo: Tayfun Coskun/Anadolu Agency via Getty Images In Central Park, the "We Love NYC: The Homecoming Concert," aired exclusively on CNN, started strong (above) but was cut short by pre-Henri rain during a Barry Manilow medley. |
A message from Facebook |
Internet regulations are as outdated as dial-up |
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Facebook supports updated regulations, including four areas where lawmakers can make quick progress:
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4. Pic du jour |
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Photo: Nick Petrack/U.S. Forest Service via AP A rapidly growing wildfire rises in the background in northeastern Minnesota, where the U.S. Forest Service yesterday closed the popular Boundary Waters Canoe Area Wilderness. |
5. Making the outdoors safe for people of color |
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Julius Crowe Hampton, Outdoor Afro leader, kayaks in Marina Bay Yacht Harbor in Richmond, Calif. Photo: Yalonda M. James/San Francisco Chronicle via Getty Images |
A national reckoning has drawn attention to the discrimination some people of color face during a run in the mountains or a walk on a trail, Axios' Russell Contreras reports.
The intrigue: Around 32% of campers are now people of color, a stark 17-point increase over the past five years, according to Kampgrounds of America, which is owned by Asian Americans.
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6. Facebook releases shelved report |
Facebook released a report showing the platform's most viewed link in Q1 was a news article about a doctor who died of natural causes two weeks after getting a COVID vaccine.
Facebook's Andy Stone said in a Twitter thread accompanying the release that the mainstream news story about the doctor illustrates "just how difficult it is to define misinformation."
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7. Cancer-testing deal closes despite antitrust fight |
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Illumina president and CEO Francis deSouza at the Sun Valley media conference in July. Photo: Brian Losness/Reuters Illumina CEO Francis deSouza tells Axios' Dan Primack that his company isn't trying to defy U.S. or European regulators by closing its $7.1 billion purchase of cancer testing company Grail, despite doing so amidst ongoing government reviews.
Backstory: Grail was developed inside of Illumina, but spun out in 2017. The two parties agreed to merge last September, to combine the maker of blood tests that can detect multiple cancers with the maker of gene sequencers upon which such tests were developed.
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8. Stat du jour |
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In 1962, shoppers wait to enter a Kmart. Photo: American Stock via Getty Images "Kmart last opened a new store in 2002; since then, it has all been closings," the N.Y. Times reports (subscription).
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9. Time capsule: 20 years to lose a war |
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The New York Times Archives (@NYTArchives) tweeted this collage of America's longest war, told through front pages. |
10. 1 smile to go |
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Photo: Agnes Bun/AFP via Getty Images Giant panda Xiao Qi Ji (SHIAU-chi-ji), right, celebrates his first birthday with his mother, Mei Xiang (may-SHONG) , by eating a fruitsicle cake at the Smithsonian's National Zoo in Washington yesterday.
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A message from Facebook |
Why Facebook supports the Honest Ads Act |
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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. |
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FEATURED EVENT1485Wars of the Roses ended in England |
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MORE EVENTS ON THIS DAY
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August 22, 2021
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What's the Closest Natural Nuclear Bunker to Your Home? |
There are a lot of natural nuclear shelters in the US that are absolutely free. And one of them is near your home…... Read More › |
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SUNDAY 8.22.2021
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WH Makes Massive Mistake with 1 Photo, ‘Outs’ Intelligence Officials on Twitter
Printing Money: Vaccine Makers Cheer WH News CVD Booster Will Be Pushed on Everyone
Court Rules Runaway Texas Democrats Can Be Tracked Down and Arrested
Maricopa County Issues AZ Senate $2.8M Notice of Claim For New Machines
Trump: 'I Warned' of 'Disastrous Consequences' With Biden
Special: Will Your Portfolio Survive Biden’s Double Tax Plan?
Jesse Jackson, Wife, Hospitalized After Positive COVID Tests
Hurricane Henri Nears Eastern Long Island, Southern New England
TRUMP
I am calling on Joe Biden to resign
Nobody knows where Kamala Harris is after she vanished for a jaw-dropping reason
Joe Biden received one report that let him know he was reliving Jimmy Carter’s Presidency
An Afghanistan veteran’s widow obliterated Joe Biden for one disastrous choice
Everyone who watched this video knew something was seriously wrong with Joe Biden
Afghanistan did one thing to Joe Biden’s poll numbers that no one thought was possible
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