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Todayâs Agenda
- Is Julian Assange a [criminal](Â or a [journalist](? Yes?
- The magic is fading for [unicorns](, [Amazon]( and [Tesla](.
- Neither [Europe]( nor the [U.K.]( love the Brexit delay.
- The borderâs not the only [homeland security problem](.
Judging Julian Assange
Is Julian Assange good or bad? âYesâ may be an acceptable answer.
British police this morning removed the WikiLeaks founder, bearded and [horizontal](, from the Ecuadorian embassy that had been his home for the past seven years. The U.S. government [accused]( him of conspiring with Chelsea Manning to hack Defense Department computers to access classified files. The U.S. wants to extradite Assange, but Leonid Bershidsky suggests an American trial on charges of publishing classified material would be a bad idea, saying it would be [better for European authorities to judge]( whether Assange is a journalist or a spy.Â
But the government, perhaps sensitive to such issues, didnât exactly charge Assange with publishing stolen material â just with helping Manning steal it. Journalists publish leaked material all the time, as they should; but going from passive recipient to active hacker crosses the line, writes Tim OâBrien. If the charges against Assange are true, then [he is a thief, not a journalist](, Tim argues.
But Noah Feldman warns there could be [a chilling effect on the free press]( even if Assange is found guilty on this relatively narrow charge. Thatâs because it rests partly on the claim Assange âencouragedâ Manning to steal info; Noah notes journalists could reasonably be accused of similar encouragement of their sources. Liberals might cheer Assangeâs comeuppance, given his role in helping elect President Donald Trump; but Noah points out even an indictment in that case (of which there is no sign yet) might have similar implications. Itâs complicated.Â
Fading Tech Magic
The Age of Unicorns may be ending. For several years, âunicornsâ â privately owned startups worth $1 billion or more â were mainly judged by how comically enormous were the piles of cash they could raise, Shira Ovide writes. But the biggest unicorns, including Uber Technologies Inc., are leaving the Magic VC Garden for boring old public stock exchanges. This could, Shira writes, spell [the end of the unicorn glory days](.Â
Amazon.com Inc. seems to have a supernatural ability to grow revenue and consume every landscape it touches. But that magic seems to be fading too; new data suggest at least one measure of [sales growth has slowed lately](, write Shira Ovide and Sarah Halzack. This is happening despite Amazon competing in more product areas, suggesting retailers have finally learned how to fight it, write Shira and Sarah.
And then thereâs the most magical company of all, Tesla Inc. Though its stock has had a bumpy ride lately, its earnings forecasts have been slashed even more, making the company even more richly valued, notes Liam Denning. At the same time, [signs keep accumulating that its growth story is a myth](, Liam writes; the latest is its plan to stop Gigafactory expansion. Â
Bonus Tech Reading:
- Facebook Inc. and other tech giants [opened themselves to regulation]( by crushing competition. â Elaine Ou
- Alexaâs [human eavesdroppers are the real heroes](, part of an underappreciated tech army. â Leonid Bershidsky Â
Brexit You Later
The Brexit can was kicked firmly down the road, as the [EU gave]( the U.K. until Halloween to leave the union. Of course, [nobodyâs really happy with this in Europe](, notes Lionel Laurent, who points out the EU did exactly what it didnât want to do: give the U.K. a long runway without getting a flight plan in return. It could all still work out, of course, but the odds seem low, Lionel writes. In fact, the extra time just gives opposing sides of the debate [more reason to hunker down]( and opens up many more potential battlegrounds, writes Therese Raphael. But at least the delay does offer a reprieve and a [slight boost to British markets](, writes John Authers.Â
Trumpâs Self-Defeating Border Obsession
Trumpâs all-consuming focus on border security has caused a week of upheaval at the Department of Homeland Security; but worse, it has let a [whole bunch of more-important homeland security issues]( fester, Bloombergâs editorial board writes. Among those are such minor problems as drug smuggling, human trafficking and cybersecurity. And Trumpâs immigration prescriptions â cutting off aid to Central America, threatening total border shutdowns and more family separations â make his self-created border crisis even worse, the editors write.Â
Bonus Editorials:
- France and Italy must [make Libyaâs rebel warlord see reason](. A descent into violence would hurt both nations and the region.
- Now that Bernie Sanders is a millionaire, maybe he [should have more sympathy]( for his fellow rich people.Â
Telltale Charts
Chinaâs recent growth rebound is a blip in a long-term trend [toward once-unthinkable slow growth](, writes Dan Moss.Â
Stocks are starting to [divorce from their fundamentals]( in troubling ways, writes Stephen Gandel.Â
Further Reading
The Trumpier Trump gets, the [more American soft power]( he destroys. â Hal Brands
The media fumbled William Barrâs report of the Mueller report. It [shouldnât blow its second chance](. â Jonathan BernsteinÂ
Californiaâs wildfires exposed [how little home insurance actually covers](. â Liam DenningÂ
India thinks itâs [destined to become the next China](, but that will take work it seems unwilling to do. â Mihir SharmaÂ
Industrial bellwether Fastenal Co.âs earnings were [refreshingly not terrible](. â Brooke SutherlandÂ
LVMHâs good quarter [doesnât mean the rest of the luxury]( sector is fine. â Andrea FelstedÂ
A brief history [of black holes](. â Faye FlamÂ
ICYMI
Herman Cain may [not have the votes](.
Former Obama White House counsel [Greg Craig got indicted](.
The 737 Max is â[not suitableâ for some airports](.
Thousands of Dominicans are [hunting for a treasure]( that may not exist. (by Joe Nocera)
Kickers
Porcupine [quills are horrifying](, but could help medical science. (h/t Scott Kominers)
Stressed about [eye bees](? Try [lemur yoga](. (h/t James Greiff)
What happens if you [fall into a black hole](? (h/t Mike Smedley)
Being in space [affects DNA, cognition and more](, a NASA study of identical twins has found.
Note: Please send lemurs and complaints to Mark Gongloff at mgongloff1@bloomberg.net.
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