BREW WITH HEADLINES

TOGETHER WITH Good morning. This newsletter is dedicated to the many readers who are in the process of moving houses/apartments. We see you, we hear you, we most certainly smell you, and in 5 months from now, when you've finally finished unpacking your things, don't forget to send us an invite for the housewarming. —Matty Merritt, Sherry Qin, Neal Freyman MARKETS Nasdaq 15,265.89 +0.90% S&P 4,528.79 +0.43% Dow 35,399.84 -0.16% Bitcoin $48,677.63 -0.52% 10-Year 1.278% -3.5 bps Affirm $99.59 +46.67% *Stock data as of market close, cryptocurrency data as of 4:00pm ET. Here's what these numbers mean. Markets: The S&P continued its sizzling August, notching its 12th record high for the month. The newly public buy now, pay later firm Affirm skyrocketed following an announcement last Friday that it struck a partnership with Amazon. Afghanistan: The last US troops left Kabul on a flight that took off a minute before midnight local time, officially ending the country’s longest war in history.  Hurricane Ida: Search and rescue missions began yesterday after Ida swept through southeast Louisiana. While the new $14 billion levee system appeared to hold up well, more than 1 million homes and businesses remain without power in the state. LEGAL Can’t Fake It ’Til You Make It in the Courtroom Let’s welcome back our oldest friend: a celebrity trial. Jury selection begins today for the criminal fraud trial of Elizabeth Holmes, the founder of shuttered Silicon Valley biotech startup Theranos. Holmes and her ex-boyfriend/business partner (we’ll unpack that in a minute) Ramesh “Sunny” Balwani could face up to 20 years in prison for perpetrating one of the biggest startup frauds in decades. Here’s a quick timeline for everyone who was too young or busy in the aughts:  2003: At the age of 19, Elizabeth Holmes dropped out of Stanford and started Theranos with the goal of revolutionizing blood testing. 2015: Theranos reached a $10 billion valuation by promising to perform 240+ tests with a single finger prick. Holmes’s net worth also grew to $4.5 billion, good enough for No. 1 on the Forbes list of America’s Richest Self-Made Women. October 2015: The WSJ started digging around the company and published a bombshell investigation into Theranos, claiming that the company’s linchpin machine couldn’t really do what was promised. From there, investors started suing for fraud, the government yanked the company’s blood-testing license, and in September 2018, the SEC dissolved Theranos. Holmes was left with nothing but her black turtlenecks, two counts of conspiring to commit wire fraud, and 10 counts of federal wire fraud. Holmes’s defense will try to prove that sure, maybe she ran a highly lucrative scam for over a decade, but she didn’t know it was a scam at the time. Her legal strategy is basically to throw her former partner under the bus. Her defense alleges that emotional and sexual abuse by Balwani impacted her state of mind during the time of the fraud. Balwani’s lawyers called the claims “deeply offensive.” Zoom out: Holmes started Theranos at a time when venture capitalists were throwing money at young, public-facing tech founders who used the word “disrupt” a lot. The downfall of Theranos may have briefly scared investors into looking closer at pitch decks, but it may take more than a conviction to change the Valley’s entrenched “fake it ’til you make it” mindset. Fall into a Theranos rabbit hole: The WSJ reporter who broke the story, John Carreyrou, wrote a riveting book about the fraud called Bad Blood. You can also listen to a podcast of the same name, or watch the documentary The Inventor: Out for Blood in Silicon Valley. — MM TRAVEL Fewer Americans in Paris Giphy/Pixar The European Council removed the US from the “safe list” of countries that can send tourists to the EU due to high Covid rates here in the States. It’s not quite as dramatic as it sounds, though. If you’re fully vaccinated, you probably don’t have to cancel your trip to Paris to watch Messi play—the EU’s existing guidelines allow countries to admit visitors who show proof of vaccination. Plus, the 27 countries in the bloc don’t have to abide by the EU's guidance, because it's just a recommendation. Still, one glance at declining airline stocks yesterday shows that investors fear the new policy could lead to billions in lost revenue for European businesses that rely on overseas visitors.  Zoom out: Like the debate over what to call “soccer,” the US and the EU are also not on the same page when it comes to Covid travel restrictions. While the EU opened up its borders to American tourists in June, the US has yet to reciprocate for European visitors, angering the EU. — NF GAMING In China, Kids Aren't Left to Their Own Devices The Chinese government banned kids under 18 from playing online video games on school nights and will allow gaming for only one hour a day on weekends and public holidays. What's next, a broccoli mandate?  The announcement, courtesy of the National Press and Publication Administration (NPPA), amounts to the strictest rules introduced yet to curb video game addiction among China's youth. So how will it be enforced? Parents aren't going to sit there with a stopwatch. All online video games are required to be connected to an “anti-addiction” system operated by the NPPA using real-name registration. Tencent, the world’s largest video game company by revenue, has already started using facial recognition technology to verify users.  Why it matters: The latest ruling reflects China’s determination to reshape its tech industry over concerns that kids’ brains are turning into oatmeal. Earlier this month, an article in state media called video games “opium for the mind,” wiping off nearly $100 billion in value from gaming stocks. Tencent’s market cap has lost more than $400 billion since a February peak. Want more? We made a funny (and weirdly emotional) TikTok about the news. — SQ SPONSORED BY EMPATHY WINES Wine Without the Decision-Fatigue We’re not talking about the fatigue after an intense wine night. We’re referring to the headache that hits before you even reach for the bottle opener—the headache of navigating the wine aisle. And we have a grape antidote for you: Empathy Wines. They simplify the wine buying process by offering three high quality wines: red, white, and rosé. And because they cut out the middle man (no distributor or retailer involved), you can get your grown-up-grape-juice straight from the winery at a lower price point accessible to everyone. Empathy’s cofounder, Gary Vaynerchuk, doesn't think you need to be a sommelier to treat yourself to a great bottle of wine. Empathy leaves the wine expertise to the wine experts—specifically, farmers across California that prioritize sustainable farming practices. Take the headache out of pursuing wines and use code WELCOME for 20% off and shipping included on your first order. GRAB BAG Key Performance Indicators Stat: 750,000 households in the US could be evicted by the end of 2021, Goldman Sachs wrote after the Supreme Court scrapped the CDC’s eviction moratorium. Up to 3.5 million households collectively owe landlords as much as $17 billion, Goldman calculated.   Quote: “I got down on one knee and presented her the NFT and she started crying.” One Redditor explained how he proposed to his fiancée with an NFT instead of a ring—an NFT he spent almost his entire life savings on. She found the gesture non-fungible.  Read: Margaritaville and the myth of American leisure. (Eater) TECH Whoop There It Is Whoop And by "it" we mean "massive funding round." Whoop, a startup that makes wearable health trackers, raised $200 million in a round led by SoftBank. Now valued at $3.6 billion, Whoop says it's the most valuable standalone human performance company in the world. Similar to the Apple Watch, Whoop’s band tracks a user’s workouts, sleep, and movements, then gives advice on how to improve those behaviors on its app.  Big picture: From startups to tech giants, companies are diving into the fitness tracker business, which is expected to reach $62 billion by 2023, according to Allied Market Research.  Apple CEO Tim Cook has high hopes for the Apple Watch and wants the company’s legacy to be in the areas of health and wellness.  Google completed a $2.1 billion deal this year to purchase the fitness-tracking company Fitbit.  Startups like Oura and Biofourmis, which both make wearable sensors, have also secured major funding over the past two years. Bottom line: The funding will help Whoop compete with the Big Tech companies eyeing the space. — SQ WHAT ELSE IS BREWING Zoom revealed slowing growth last quarter, sending its stock 11% lower after hours. PayPal is exploring a stock-trading platform, per CNBC. The UN’s environment office declared the “official end” to the use of leaded gasoline, a highly toxic fuel, in cars. South Lake Tahoe, a resort city of 22,000, was being evacuated yesterday as a wildfire approached. ESPN was seemingly duped into airing a high school football game featuring Bishop Sycamore, a school that apparently lied to the network about the level of its football program. BREW'S BETS Multitasking hack: be comfortable while helping others. Bombas makes ultra-comfy socks, underwear, and t-shirts, and for every item you buy, they donate the same kind of item to someone experiencing homelessness. Get 20% off your first order with code BREW.* This mesh screams invest! Gryphon provides consumers the only all-in-one solution for powerful mesh WiFi (aka lightning speed internet) combined with innovative network protection powered by machine learning. Invest in the future of cybersecurity today. (Opportunity ends on 9/10!)* Tech Tip Tuesday: 8 Googling tricks to turn you into a pro searcher. Buffett’s top lines: To celebrate the Oracle of Omaha’s 91st birthday yesterday, we selected 91 of his best quotes, though we probably could have found 910. Read them here.  That’s a lot of work: Here’s a pretty cool video showing the Herculean effort required to convert a soccer stadium to a concert venue. Great soundtrack, too. *This is sponsored advertising content FROM THE CREW Crypto Investing 101 If you’re interested in dipping a toe into crypto but haven’t yet checked out our Crypto Crash Course, you definitely should. Here’s just a sampling of the content: Everything you need to know about crypto wallets Early crypto investors share their regrets, opportunities, and advice How to choose a cryptocurrency (and a crypto platform) You may even learn what the heck HODL stands for. Learn all about crypto investing here. GAMES The Puzzle Section Brew Mini: Sports, TV, music, tech...today's Mini has a little bit of everything (key word: little). Try it here. Name the Album Now that Donda has finally been released, it's time to test your knowledge of iconic album covers. Can you name the artists + titles of the following albums?

Trump: Demand US Arms Back From Taliban or Bomb It

Special: Outrage Over Survival Food

Florida Withholds Funds From Two School Districts Over Mask Mandates

 

Photo: U.S. Central Command via AP

How it ended: This image, made through a night-vision scope, shows the final American soldier to depart Afghanistan after America's longest war.

• Army Maj. Gen. Chris Donahue, commander of the 82nd Airborne Division, who was coordinating the evacuation, boarded a C-17 cargo plane that lifted off from Kabul at 3:29 p.m. ET.

Photo: AFP via Getty Images

Above: Celebratory gunfire lit up the night sky in Kabul after the last U.S. plane took off — leaving the Taliban back in power, after all that.

• ABC's Ian Pannell said in a special report, following the Pentagon briefing: "I was in Kabul the day it was liberated — the day the Taliban fled — and we were there again the day that the Taliban came back. And I think that will leave many Afghans wondering what this was all about. What happened to their hopes, their dreams, the lives that they built?"

1 big thing: Last soldier out

Image: George W. Bush Presidential Library How it started: On Oct. 7, 2001 — 7,267 days earlier, nearly 20 years — President George W. Bush announced the invasion, in the aftermath of 9/11: "We will not waver; we will not tire; we will not falter; and we will not fail. Peace and freedom will prevail." 1 in 4 of today's Americans hadn't been born, AP notes. The toll: 2,461 U.S. service members killed ... 20,000 injured ... 3,846 U.S. contractors killed ... 66,000 Afghan military and police killed ... 47,245 Afghan civilians killed ... 51,191 Taliban and opposition fighters killed. The tab (Afghanistan and Iraq): $2 trillion.

2. Part 2: The exit

Photo: Manuel Balce Ceneta/AP

The Pentagon announcement came at 5:30 p.m. ET, with Gen. Frank McKenzie, commander of U.S. Central Command, speaking remotely from Tampa (shown above with Pentagon press secretary John Kirby). "Every single U.S. service member is now out of Afghanistan," McKenzie said in response to a question. "I can say that with 100% certainty." "It's a mission that brought Osama bin Laden to a just end along with many of his al-Qaeda co-conspirators," the general said. "I'm proud that both my son and I have been a part of it." McKenzie acknowledged: "We did not get everybody out that we wanted to get out."

President Biden addresses the nation today at 1:30 p.m. ET. See 9 more photos ... Go deeper: Longest war's cost.

3. New podcast series: "The Next Astronauts"

Illustration: Aïda Amer/Axios

Dropping now ... Our new podcast series, "How it Happened: The Next Astronauts." Axios Space author Miriam Kramer and Axios' "How it Happened" podcast team spent six months behind the scenes of the first space flight to orbit with only amateur astronauts — the Inspiration4 mission, which Elon Musk's SpaceX plans to launch Sept. 15. The Axios journalists crisscrossed the country to follow the four civilian crew members, capturing the conversations as they grapple with the risks and prepare their families. Why it matters: The launch is an ambitious test for a burgeoning space industry's futuristic dream of sending many more ordinary people to space in the next few years. Inside the mission: Four crew members — Jared Isaacman, Sian Proctor, Chris Sembroski and Hayley Arceneaux — will launch atop a Falcon 9 rocket from Cape Canaveral on Sept. 15, Miriam writes. They'll orbit the Earth for about three days, flying higher than the International Space Station and Hubble Space Telescope before coming in for a splashdown off the Florida coast. Hear it here ... Keep reading.

A message from AT&T

We are connecting communities to their American Dream

We’re making a $2 billion, 3-year commitment to help ensure broadband is more accessible and affordable, so low-income families like the ones Kamal works with have the opportunity to succeed. Learn more.

4. Big Easy faces weeks without power

Photo: Gerald Herbert/AP

Above: Jerilyn Collins returns to her destroyed home in LaPlace, La. — via this Louisiana National Guard high-water vehicle — to retrieve medicine and a few possessions for herself and her father after Ida passed.

Graphic: MSNBC New Orleans escaped major damage. But the collapse of the Entergy transmission system left doubt and danger for those who hunkered down instead of evacuating, NOLA.com reports.

5. Axios-Ipsos poll: Vaccine hesitancy recedes

Data: Axios/Ipsos Poll. Chart: Kavya Beheraj/Axios Vaccine hesitancy in the U.S. is showing signs of crumbling, Axios' Margaret Talev writes from the Axios/Ipsos Coronavirus Index. Fewer adults than ever now say they won't take the shot. In the past two weeks, there has been a sharp increase in the share of parents who plan to get their younger kids vaccinated as soon as it's allowed. What's happening: The biggest driver appears to be the rise of employer mandates. One in three unvaccinated Americans in the survey said FDA approval would make them likely to take the vaccine. But 43% said their boss requiring vaccinations would make them likely to do so, up from 33% a month ago. Keep reading.

6. Conservative trust in media craters

Photo illustration: Sarah Grillo/Axios. Photo: Star Tribune via Getty Images

The percentage of Republicans who trust national news organizations has been cut in half over the past five years, Axios Media Trends expert Sara Fischer writes from a Pew Research Center study. Why it matters: GOP trust in media started dropping when President Trump took office, but has plummeted faster in the Biden era. Before the Trump administration, both parties had a great deal of trust in the national media. 35% of Republicans today say that they trust national news organizations, compared to 70% in 2016. Republicans have more trust in local outlets, but still trust local media far less than Democrats do. Context: Pew's findings echo a long-term study from Gallup last year, which found that Democrats' trust in mass media grew to a near-record high during the Trump era, while Republicans' sank to an all-time low. Share this story.

7. All national forests in California close

Photo: Noah Berger/AP

This snowmaking machine blasted water yesterday as the Caldor Fire encroached on Sierra-at-Tahoe ski resort in Eldorado National Forest, Calif. The main buildings survived after the main fire front passed. All national forests in California will close for two weeks — tonight through Sept. 17, disrupting countless Labor Day plans — because of wildfires, the U.S. Forest Service announced yesterday.

Photo: Noah Berger/AP Above: A Sierra-at-Tahoe chairlift is seen in a long camera exposure.

8. Tweet du jour

Via Twitter

Matthieu Aikins, a New York Times Magazine contributor based in Afghanistan — one of only a few Western journalists in Kabul yesterday — tweeted this, 75 minutes before the Pentagon announcement.

9. First look: Michael Moore's movie night

Michael Moore and then-Marine Cpl. Abdul Henderson in "Fahrenheit 9/11." Photo: Dog Eat Dog Films

To mark the 20th anniversary of 9/11 (and promote his Substack, which launched Aug. 17), Michael Moore plans a free online screening of "Fahrenheit 9/11," his 2004 documentary attacking "a fake War on Terror." The Flint native will host the screening Friday, Sept. 10, at 9 p.m. ET, with Q&A after. He plans a "Mike’s Movie Night" every other month. "Fahrenheit 9/11" was the highest grossing documentary of all time. "We are no longer '#1' except in our own minds," Moore says. Register for the screening: Sign up for the free version of Moore's Substack. (Click "None" or "Free.")

10. 1 for the road: Full stadiums are back

Illinois Fighting Illini packed the stands Saturday for victory over Nebraska Cornhuskers in Champaign, Ill. Photo: James Black/Icon Sportswire via Getty Images

Shouts and applause returned to the U.S. Open yesterday — along with long lines for food, AP's Howard Fendrich writes. A year after spectators were banned from the tennis tournament in Flushing Meadows because of COVID, 100% capacity is once again permitted — proof of vaccination needed; no masks required. College football resumed Saturday, with tens of thousands in the stands. The NFL is letting teams sell every ticket for the regular season, which begins Sept. 9.

A message from AT&T

We are connecting communities to their American Dream

We’re making a $2 billion, 3-year commitment to help ensure broadband is more accessible and affordable, so low-income families like the ones Kamal works with have the opportunity to succeed.

Columnists Biden's Latest Policy: Leave SOME Americans Behind Matt Vespa Biden's Casual Racism and Dementia Derek Hunter Weather Channel Reporter Has His 'Canoe-In-A-Puddle' Moment During Hurricane Ida Brad Slager Cui Bono? Who Benefits From the Afghanistan Withdrawal? Dennis Prager Teacher Tells Kids to Pledge Allegiance to Gay Flag Todd Starnes The Restorative Power of the American People Salena Zito If We Soak the Rich, Will Everyone Get Wet? Stephen Moore It's Time to Break Free of Unemployment Bonus Delusions Hayden Dublois Afghanistan: Forget the Deadline. Biden Has Already Surrendered Oliver North and David Goetsch		Tipsheet The Story About Biden Checking His Watch During Dignified Transfer Is Allegedly Worse Than Initially Thought Leah Barkoukis So, We Have a Texas Shooting That Might Have Been 'Inspired by Foreign Terrorists' Matt Vespa Unbelievable: U.S. Military Left Service Dogs Behind in Afghanistan Landon Mion DOE to Investigate 5 GOP States with Mask Mandate Bans Landon Mion The State Department Is Still 'Trying to Determine' How Many Americans Biden Left Behind Spencer Brown FLASHBACK: Lyin' Joe Biden Promised Americans in Afghanistan He'd 'Get Them All Out' Spencer Brown Mollie Tibbetts' Murderer Receives Life Sentence Landon Mion
ADVERTISEMENT
Bad Moon Rising for Biden – and Us Pat Buchanan Democrats Are Remaking the Federal Courts at a Record-Breaking Pace John R. Lott, Jr. Afghans and Our Veterans Deserve Better Winsome Sears Biden Betrays the Military, Americans, and Our Allies Taylor Keeney When This 16-Year-Old Indian Pastor Refused to Back Down He Was Severely Burned with Acid Michael Brown Despite Taliban Tragedy, America Must Protect Human Life Thomas Glessner 20 Years Later: Remembering the Devastation on Wall Street Jeff Ingber H.R. 4 Is Just Another Democrat Power-Grab Tommy Hicks		Did the Biden White House Really Not Know About the WaPo Story on Kabul? It Seems Joe's Chief of Staff Did. Matt Vespa Father of Marine Killed In Kabul: He Was Supposed To Be Home September 15 Julio Rosas '13 Heroes': America Unites to Remember Service Members Killed in Kabul Suicide Bombing Spencer Brown Political Cartoons Bearing Arms At Least A Dozen Rideshare Drivers Murdered In Carjackings This Year | Cam Edwards Biden DOJ Offering Sweetheart Deals To Gun Thieves | Cam Edwards Residents Seek Injunction In Battle With Gun Club | Tom Knighton Can California Require Mandatory Psych Evals For Carry Permits? | Cam Edwards Tampa Residents Need To Do More After Murder Of 4-Year-Old Girl | Tom Knighton
August 31 FEATURED BIOGRAPHY Born On This Day Diana, princess of Wales British princess READ MORE FEATURED EVENT 1864 Confederates evacuated from Atlanta READ MORE MORE EVENTS ON THIS DAY 2016: Brazilian President Dilma Rousseff was impeached and removed from office after the country's Senate found her guilty of having used state bank funds to cover up a budget deficit in the run-up to her reelection in 2014. [Test your knowledge of Latin American history.] 1992: An 11-day standoff in Ruby Ridge, Idaho, between government officials and an armed family headed by self-proclaimed white separatist Randy Weaver ended with his surrender; three people—Weaver's wife, Vicki, his 14-year-old son, Sammy, and U.S. Marshal William Degan—had been killed during the siege. 1991: Uzbekistan and Kyrgyzstan declared independence from the Soviet Union. [Take our history buff quiz.] 1980: Polish labour activist Lech Wałęsa and Mieczysław Jagielski, Poland's first deputy premier, signed an agreement that conceded to workers the right to organize freely and independently. [Sort fact from fiction in our quiz about famous Europeans.] 1966: The Harrier “jump-jet” fighter-bomber made its first flight. [Test your knowledge of aircraft and aviation.] 1888: The mutilated body of Mary Ann Nichols was discovered in the Whitechapel district of London's East End, and many believe she was the first victim of Jack the Ripper. [Read about seven of history's most notorious serial killers, including Jack the Ripper.] SEE ALL EVENTS ON THIS DAY ALSO BORN ON THIS DAY 1949 Richard Gere American actor and humanitarian 12 Caligula Roman emperor 1945 Van Morrison Irish singer-songwriter 1970 Rania al-Abdullah queen of Jordan 1569 Jahāngīr emperor of India 161 Commodus Roman emperor SEE ALL BIOS ON THIS DAY