Tuesday, October 12, 2021

BREW WITH AXIOS AND HEADLINES

 


Morning Brew

TOGETHER WITH

eToro

Good morning. Currently brainstorming Halloween costume ideas after getting an invite to a party. Thinking of going as a Southwest Airlines flight so we don’t have to show up.

Neal Freyman, Matty Merritt

MARKETS


Nasdaq

14,486.20

S&P

4,361.19

Dow

34,496.06

10-Year

1.613%

Bitcoin

$57,244.91

Alibaba

$163.95

*Stock data as of market close, cryptocurrency data as of 4:00pm ET. Here's what these numbers mean.

  • Markets: Stocks dipped slightly to start out the week, but over in cryptoland bitcoin has surged 30% this month to hit its highest level since May. Alibaba’s on a nice little win streak too, gaining for five straight days.
  • Covid: The Covid treatments are coming. Merck asked the FDA to authorize its antiviral pill for Covid-19, which would be the first pill to come to market. AstraZeneca also released new data that showed its antibody cocktail reduces the risk of developing severe Covid.

ENVIRONMENT

The Other Greenhouse Gas

Cows in a field

PABLO PORCIUNCULA/AFP via Getty Images

25 more countries have pledged to reduce methane emissions 30% by the end of the decade, US Special Climate Envoy John Kerry announced yesterday. That brings the total attendance at the methane slashing party to 34.

It’s progress, but also has a major asterisk. China, India, Russia, and Brazil, the four largest emitters of methane, haven’t signed on.

What is the relationship between methane and global warming?

Let’s put it this way: If carbon dioxide is the Joker of climate change, methane is Harley Quinn. Methane is the second-most prevalent greenhouse gas to CO2, and while it lasts in the atmosphere for less time than carbon dioxide (~10 years vs. a CO2 molecule’s hundreds of years), it is a significantly more potent contributor to warming—about 28x more powerful, according to some estimates.

Therefore, climate experts say we won’t be able to limit warming without tackling the methane problem. Kerry said that reducing methane emissions was the “single fastest strategy” to keep temperatures 1.5 degrees Celsius above pre-industrial levels.

And where do methane emissions come from?

Almost one-third of methane emissions from human activity came from fossil fuel operations, according to the International Energy Agency. Methane is the main component of natural gas, and it can leak into the atmosphere from pipelines and other gas infrastructure. Other methane sources include landfills, erupting volcanoes, and decomposing veggies.

But the No. 1 source of global methane is agriculture—primarily through livestock burping and manure. This has led to a rethinking of how dairy and beef cows are fed. One English farm is adding garlic and citrus pellets to cattle feed to disrupt methane-producing enzymes in their stomachs.

Looking ahead...climate pledges will be the talk of the next few weeks as the COP 26 climate summit in Glasgow, Scotland, is set to begin Oct. 31.—NF

        

ENTERTAINMENT

Netflix Stands Behind Chappelle Special

Billboard for Dave Chappelle's new standup special

AaronP/Bauer-Griffin via Getty Images

Ted Sarandos, the co-CEO of Netflix, circulated a memo to staff Friday in which he defended the company’s controversial decision to launch Dave Chappelle’s most recent standup special, The Closer, and offered guidance on how managers should respond to employees upset about the program, Variety reports.

Some employees are angry because, in The Closer, Chappelle accuses the trans community of having “thin skin,” defends J.K. Rowling’s tweets that many have called transphobic, and calls himself “team TERF,” or a trans-exclusionary radical feminist.

Things got so heated that three employees crashed Netflix’s high-level quarterly business review meeting last Friday. One of those, a software engineer named Terra Field who identifies as queer and trans, bashed the company on Twitter for airing Chappelle’s special. Netflix has suspended the three employees for allegedly attending a meeting they weren’t invited to.

In the memo, Serandos said that Netflix doesn’t allow titles that “are designed to incite hate or violence, and we don’t believe The Closer crosses that line.” Others think it does. Jaclyn Moore, the trans co-showrunner of Dear White People, said she’s cutting ties with the company over its Chappelle decision. —MM

        

ECONOMICS

Prizewinning Economists Show You Don't Need a Lab

The three Nobel Prize winners in economics show that science is happening all around us—if we’re willing to look.

David Card, Joshua Angrist, and Guido Imbens, US-based economists who shared the prize awarded yesterday, helped pioneer the use of “natural experiments” to conduct studies on real-life situations as if they had happened in a tightly controlled lab.

Here’s one example: Card is most famous for his and Alan Krueger’s 1993 study on the effects of minimum wage on employment. They compared fast food jobs in New Jersey, which had just raised its minimum wage from $4.25 to $5.05, to fast food restaurants in neighboring Pennsylvania. The idea was that NJ and PA are generally pretty similar, so any observed differences in the labor market could lead to important conclusions about raising the minimum wage.

What did they find? That NJ’s higher minimum wage did not hurt job growth...and may have even increased employment. This shocked most experts at the time.

Bottom line: Natural experiments are now ubiquitous in economics research, but only because these Nobel Prize recipients showed what was possible. —NF

        

TOGETHER WITH ETORO

When You Mess With the Bull…

eToro

You get the horns. But when you buy $500 worth of crypto with eToro, you’ll get $50 added to your trading account balance. Other bulls, take note. This is the kind of human/bull friendship you should aspire to.

With eToro, you can browse through over 20 cryptocurrencies including Bitcoin and Ethereum. Not sure you’re ready to jump straight into the ring? You can experiment first with a virtual portfolio and $100K in ‘play money.’ 

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Learn about the industry with their market guides and weekly newsletter—we’re not biased or anything, but newsletters rock. Plus, there are no holding fees, or deposit fees for USD. What did we tell ya? eToro can become your BBF (Best Bull Friend). 

Learn more about eToro’s limited-time $50 bonus here.

GRAB BAG

Key Performance Indicators

Cars stranded in floodwaters in the NYC area

Spencer Platt/Getty Images

Stat: About a quarter of US critical infrastructure—hospitals, airports, police stations, and more—are at risk of getting flooded to the point of being inoperable, according to a new study from the nonprofit First Street Foundation.

Quote: “We have no competing fighting chance against China in 15 to 20 years. Right now, it’s already a done deal; it is already over in my opinion.”

Nicolas Chaillan, the Pentagon’s first chief software officer, told the Financial Times that the US was failing to respond to China’s cyber threats and its growing capabilities in AI and machine learning. That’s the main reason why he resigned last week.

Read: Is Earth a giant crystal? (Motherboard)

        

TRAVEL

The Private Jet Industry Is Taking Off

One of the world’s largest business jet conventions kicks off today in Las Vegas. The talk of the trade show floor won’t be the best wax for buffing your G800, but the boom times for private jets.

Private jet company NetJets said demand is higher than it’s ever been, with an average of 500 chartered flights a day compared to less than 400 in 2019.

But that's also put unprecedented strain on the industry's infrastructure. If you’re already familiar with the private jet shortage, congrats on your lumber empire. But if you're not, you should know that that private jet operators are scrambling for workers and materials just like every other sector.

  • Private aviation company XO started requiring 72 hours notice to charter a jet for its members, instead of the typical 24.

+ While we're here: Southwest is struggling to get things back on track. It canceled 10% of its scheduled flights yesterday, after scrapping 28% of its Sunday flights. —MM

        

WHAT ELSE IS BREWING

  • Jon Gruden resigned as head coach of the Las Vegas Raiders following a NYT report that he frequently used misogynistic and homophobic language over several years.
  • JPMorgan CEO Jamie Dimon said he personally thinks bitcoin is “worthless” and that regulation is coming.
  • Surf’s up: Huntington Beach CA, reopened its beaches following a major oil spill more than a week ago.
  • Jonathan Kent, the new Superman and the son of Clark Kent and Lois Lane, will soon get a boyfriend, DC Comics announced yesterday.

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GAMES

The Puzzle Section

Brew Mini: Brain a little fuzzy after a long weekend? Kick it back into gear with today's puzzle.

Marathon Trivia

With the Boston Marathon held yesterday, we thought we’d devote this trivia section to the most famous marathons in the world, the six races known as the World Marathon Majors. Can you match the marathon with its unique characteristic?

Marathons: Boston, Chicago, London, New York, Tokyo, Berlin

Characteristics:

  1. This one’s famous for its abundance of runners in costume.
  2. Founded in 1897, it’s the oldest annual marathon in the world.
  3. This city’s marathon updated its course in 1990.
  4. The flattest of the Marathon Majors.
  5. It finishes at The Mall.
  6. This city’s marathon course incorporates five bridges.

FROM THE CREW

Brew's Bookshelf

Brew's bookshelf promo image

Every other week, Brew’s Bookshelf brings you a few of our favorite reads.

  • Max Chafkin profiles the controversial tech mogul Peter Thiel in The Contrarian.
  • In May, the remains of 215 Indigenous children were found on the grounds of a former residential school in Canada. In 2017, journalist Tanya Talaga investigated seven deaths of indigenous students in Thunder Bay, Ontario, and the history of Canada's residential schools for Seven Fallen Feathers.

ANSWER

1) Tokyo has a lot of runners in costume 2) Boston has the oldest marathon 3) Berlin updated its course in 1990, which until then had been restricted to West Berlin 4) Chicago is the flattest 5) the London Marathon finishes at The Mall 6) New York's course incorporates five bridges.

 

Encyclopaedia Britannica | On This Day
October 12
Luciano Pavarotti

FEATURED BIOGRAPHY


Luciano Pavarotti

Italian opera singer


READ MORE
Landing of Columbus

FEATURED EVENT


1492

New World sighted


READ MORE
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Britannica Premium Ad - Know better and scroll smarter this year with Britannica premium.


MORE EVENTS ON THIS DAY

Kofi Annan
USS Cole attack
Wilt Chamberlain and Bill Russell
post-signing of the Hate Crimes Prevention Act
Edith Cavell

ALSO BORN ON THIS DAY

SEE ALL BIOS ON THIS DAY


Axios AM
By Mike Allen ·Oct 12, 2021

Happy Tuesday. Smart Brevity™ count: 1,176 words ... 4½ minutes. Edited by Zachary Basu.

🔗 Please join Axios' Ina Fried and Margaret Harding McGill tomorrow at 12:30 p.m. ET for a virtual event on beating cyberattacks. Sign up here.

 
 
1 big thing: Customer combat threatens recovery


Illustration: Annelise Capossela/Axios

 

Increasingly combative customers — angry about everything from long wait times to mask mandates — are prompting workers to quit, Axios' Hope King and "Axios Today" host Niala Boodhoo report.

  • Why it matters: The pace of the economic recovery hinges in part on workers returning to jobs.

Violent clashes between customers and service workers over COVID protocols have led to prison sentences, fines and deaths.

  • A former West Virginia bartender who goes by Ash told our "Axios Today" podcast: "[T]he same people whining about people on unemployment were the same people who would come in and treat the people actually working like [crap]."

Many workers say they're not going to take it any longer — and their employers are often taking their side, even in industries that have long deferred to their customers.

Because consumers were so used to a "frictionless economy" before the pandemic, there was no tolerance for a slowdown in services as businesses opened back up, says Melissa Swift, U.S. transformation leader at the consulting firm Mercer.

  • "Technology has insulated the upper classes from the physical labor that enables their lifestyle," she said.
  • Now, the power balance is changing. "We're seeing a shift away from customer obsession to a more balanced view of the world," Swift said.

The bottom line: The customer is no longer always right.

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2. Emails doom Raiders coach
Jon Gruden's last game as Raiders coach, in Vegas on Sunday. Photo: Rick Scuteri/AP

Jon Gruden, famed head coach of the Las Vegas Raiders, resigned in disgrace, about an hour after a New York Times report that he used homophobic and misogynistic language in emails spanning seven years.

  • Gruden, whether coaching or broadcasting, is one of football's most recognizable faces, Axios Sports editor Kendall Baker tells me.

In the emails, Gruden called NFL commissioner Roger Goodell an anti-gay slur and a "clueless anti football [p---y]," and criticized drafting of "queers" — a reference to Michael Sam.

  • Gruden denounced women referees and anthem protests.

The emails were sent to Bruce Allen, former president of the Washington Football Team, and others, while Gruden was working as a "Monday Night Football" analyst for ESPN.

  • The emails were uncovered during an NFL investigation into the "very toxic" workplace culture of the Washington Football Team.

Between the lines: The Times writes (subscription) that the emails "provide an unvarnished look into the clubby culture of one N.F.L. circle of peers, where white male decision makers felt comfortable sharing pornographic images ... and jocularly sharing homophobic language."

Gruden said in a statement: "I'm sorry, I never meant to hurt anyone."

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3. Biden's trust fall
Data: Axios/Ipsos Poll. Chart: Kavya Beheraj/Axios

Americans' trust in President Biden has eroded as expectations fall for returning to pre-pandemic life, Axios' Margaret Talev writes from the Axios/Ipsos Coronavirus Index.

  • Why it matters: Two trends we've been watching for a while — drawn-out timelines for returning to normal, and declining trust — are starting to look like cause and effect.

That's hurting Biden with Democrats as well as independents.

  • "He's basically losing the expectations game," said Cliff Young, president of Ipsos U.S. public affairs, calling ending the pandemic a "central pillar" of Biden's approval.

Share this story.

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A message from Bank of America

Investing in Hispanic-Latino teammates and communities we serve
 

 

“I view my success as an opportunity to pay it forward and to help others around me become better bankers, better leaders and better individuals,” says Raul Anaya, president of Business Banking and president for Greater Los Angeles.

Learn how his roots helped guide his path to Bank of America.

 
 
4. Pic du jour
Photo: Kevin Lamarque/Reuters

On Indigenous Peoples Day, the Andrew Jackson statue in Lafayette Park was painted with "Expect Us" — part of a rallying cry by Indigenous people fighting fossil-fuel pipelines, AP reports.

More photos from Indigenous Peoples Day.

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5. Pelosi shows her hand
"Reconciling with Reality" proposal from center-left Progressive Policy Institute. Graphic: CNN's "Inside Politics Sunday"

As House Dems work to cut $1 trillion+ from President Biden's $3.5 trillion in social proposals, they've debated whether to go all-in on a few programs — or do a little bit from everything. Now we know the answer.

Overwhelmingly, the guidance I am receiving from Members is to do fewer things well so that we can still have a transformative impact on families in the workplace and responsibly address the climate crisis: a Build Back Better agenda for jobs and the planet For The Children!
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6. Southwest's mystery fiasco
Just four days ago, Southwest touted a Disney World-themed plane. Photo via Twitter

Southwest said it expects to resume normal service this week after canceling 2,500+ flights over the past three days, blaming unfavorable weather and air traffic issues in Florida, Reuters reports.

  • The airline canceled 800+ flights Saturday ... 1,124 on Sunday ... and 588 yesterday.
  • The meltdown remains largely unexplained on the usually chatty Southwest Twitter feed.

A pilot revolt against the airline's vaccine mandate, announced last week is a suspected factor.

  • Southwest said yesterday: "[T]he operational challenges were not a result of Southwest Employee demonstrations."
  • Fox News' Tucker Carlson, who hosts the highest-rated show in cable news, last night pushed the vaccine-mandate angle as his lead story — with a graphic showing Southwest's logo, a syringe and a pink slip.

Read Southwest's statement.

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7. Tech loses ground to the state
Data: Freedom House "Freedom of the Net 2021" report. Chart: Jacque Schrag/Axios

Internet freedom around the world dropped for the 11th straight year, Axios Media Trends author Sara Fischer writes from an annual report by Freedom House, a nonprofit focused on freedom and democracy.

  • The power shift from tech companies to nation states over the past year has resulted in "a record-breaking crackdown" on freedom of expression online, Freedom House says.

The report finds that government officials in 56 of the 70 countries measured have arrested or convicted people for their speech online. (Those 70 countries account for 88% of the world's internet users).

  • Speech on Facebook, the largest of all social media apps globally, has by far been targeted the most by government officials.

The big picture: The findings reflect a global challenge of balancing the promises of the internet and social media with broader risks to society — most notably, the erosion of truth.

What to watch: More governments are introducing regulations to take back power from tech firms.

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8. 😷 1 food thing: Restaurants review-bombed over masks


Illustration: Maura Losch/Axios

 

Restaurants' mask and vax policies are driving a wave of nasty Yelp reviews, Paige Hopkins and Chelsea Cirruzzo write for Axios D.C.

  • Why it matters: The food and service industry doesn't need any other hurdles to overcome following almost two years of constant COVID-related setbacks.

Yelp tells Axios "review-bombing" — bombarding a restaurant with fake reviews after it gains media attention or implements a new policy — has become increasingly common for restaurants with vaccine requirements.

  • Yelp has multiple systems to flag and remove reviews that aren't based on first-hand customer experiences. The company says it has removed 17,000+ reviews nationally that violated its COVID Content Guidelines.
  • Businesses can opt in or out of the platform's "proof of vaccination required" and "all staff fully vaccinated" categories.

State of play: Some bars and music venues pushed the city for a blanket vaccination requirement for indoor venues. D.C. instead encouraged individual restaurants to implement (and enforce) their own policies. 

  • Both New York City and L.A. have issued a blanket vaccine mandate for some indoor settings.

Share this story.

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A message from Bank of America

Bank of America’s commitment to Hispanic-Latino communities
 

 

America’s history has been written in part by the many contributions of Hispanic-Latinos.

See how Bank of America invests in the Hispanic-Latino communities it serves and is delivering on a $1.25 billion five-year commitment with a focus on affordable housing, health, jobs and small business.

 October 12, 2021

VP Harris Brutally Mocked for Ridiculous NASA Video for Kids Featuring Child Actors
There are so many things Vice President Kamala Harris could be doing right now to try to bolster the Biden administration’s slipping approval ratings.Things like, oh, I don’t know, just picking... Read More ›
Harvard University is in process of patenting it....
Once patented, prices could go much higher, so check it out now. Doctors are raving about it being the next big breakthrough for weight loss...... Read More ›
Lt. Governor Stands Firm After He Calls Teaching LGBT Agenda in Schools 'Filth'
North Carolina’s Republican lieutenant governor says he will not back down after earning liberal scorn by calling a book of LGBTQ sexual fantasies targeted at children “filth.” ... Read More ›
Morgan Freeman Backs the Blue, Says Most Police Are 'Doing Their Job'
Award-winning actor Morgan Freeman shattered the false narrative pushed by Democrats and the race-hustling Black Lives Matter movement that all black people hate the police and want them... Read More ›
SCORCHED EARTH TIME – AZ State Rep Wendy Rogers Wants “Less Letters, More ARRESTS”
The Gateway Pundit reported that Mark Brnovich sent a letter to the Arizona Secretary of State’s office to begin his investigation into the fraudulent voter rolls. ... Read More ›
GOP Governor Issues Order Banning CVD Vaccine Mandate
Texas Gov. Greg Abbott issued an executive order on Monday prohibiting any entity, including private businesses, from imposing Covid-19 vaccination requirements on employees or customers. ... Read More ›
GET ACCESS TO 12,000 SHED PLANS
Ryan is giving away over 12,000 step-by-step and easy to build shed plans...with instructions so precise, they practically BUILD THEMSELVES! Download over *12,000* fully detailed shed plans and start building your next shed easily and quickly... Read More ›


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Why Democrats Should be Worried About the Next Election

 

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Columnists
Joe Biden’s Message to Democrats Further Highlights His Weak and Senile Presidency

Matt Vespa


Let’s Just Call It a Day Already

Derek Hunter


It Was a Pretty Rough Weekend for CNN

Brad Slager


Where the Wave Begins

Salena Zito


Republicans Unveil True Conservation Alternative to Biden 30x30 Plan

Gabriella Hoffman


The War Is on with China

Stephen Moore


Rep. Bush and Rep. Cammack Share Two Very Different Abortion Stories

Katie Yoder


China Wins Another Round

Oliver North and David Goetsch


Sink the New World Order Tax!

Pat Buchanan



Tipsheet
Pentagon’s First Software Chief Resigns Because the Tech War Has Already Been Won, Just Not by the US

Leah Barkoukis


Wait...A Chinese Illegal Set Fire to a Church in Alabama?

Matt Vespa


Georgia Election Workers Fired for Allegedly Shredding Hundreds of Voter Registration Applications

Landon Mion


Gov. Abbott Signs Executive Order Banning Vaccine Mandates

Landon Mion


This NBA Great Says He is a 'Believer in Science' When Asked About the NBA's COVID Rules

Landon Mion


School Board Associations Slam NSBA's Letter to DOJ Over 'Threats' to School Officials

Landon Mion


Oh, Here We Go: NBA Coach Compares Columbus Day Celebrations to Saluting Hitler

Matt Vespa


ADVERTISEMENT
Where’s Dr. Frederic Wertham When We REALLY Need Him?

Tom Tradup


Federal Policy Needs to Incentivize American-Made Vehicles to Create Jobs

Steve Sherman


Resettling Afghan Refugees: Who Bears the Responsibility?

Paul Nachman


Biden, Like Nero, Tears Down to 'Build Back Better'

Will Alexander


The Decline in American Education

Cal Thomas


States Have Already Picked the Treasury's Pocket with SALT Workarounds

Hank Adler


Why Would Mommy Lie?

Donna Wiesner Keene


Concerned Parents Are Not ‘Domestic Terrorists’

Chris Talgo


Dear Congress, Federal Health Agencies Don't Need More Funding for E-Cigarette Alarmism

Lindsey Stroud



'Fauci' Flops: Audiences Really Don't Like His Disney+ Biopic

Spencer Brown


New Poll: Most Say 2020 Election Was Totally Loaded with Fraud

Matt Vespa


An American Pharmaceutical Company Requested FDA Approval for an Antiviral COVID-19 Pill

Madeline Leesman


Political Cartoons
Bearing Arms
Al Capone's Guns, Other Items Bring In Over $3 Million At Auction | Tom Knighton

Boulder Democrats Call For Concealed Carry Ban | Cam Edwards

New Jersey County Offering Up To $250 Per Gun At Buyback | Tom Knighton

TX Dem Thinks Gun Control's A Winning Issue | Cam Edwards

Gun Control Advocates Call For Gun Rationing In Oregon | Tom Knighton


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