Wiz Bid

Good morning. Donald Trump arrived in [Milwaukee]( last night ahead of the upcoming Republican National Convention, a day after his attempted assassination in Pennsylvania on Saturday. Today we’re exploring: - Wiz bid: Google is eyeing another major deal. - Burberry blues: The British fashion icon has fallen out of fashion. - Record levels: America’s female workforce has reached an all-time high. Have feedback for us? Just hit reply - we'd love to hear from you! TOGETHER WITH [Sponsor Logo](   Wiz bid Google’s parent company Alphabet is looking to lock down a $23 billion deal for cybersecurity software startup Wiz, according to a new report from the [Wall Street Journal](. The potential acquisition, which would be the largest in the company’s history, comes just a few weeks after Alphabet walked away from [deal talks]( with marketing software company HubSpot, which has a market cap of $24 billion. Wiz, which bills itself as the #1 cloud security platform and counts 40% of Fortune 100 companies [as users](, recently raised $1 billion at a $12 billion valuation in May, as it looked to expand ahead of a rumored IPO. Just over 2 months later, however, the company looks likely to become another property in Alphabet’s ever-expanding empire, at nearly twice its previous valuation. GOOG gang If the deal goes through, Wiz would join a long list of acquisitions made by the tech giant: according to [Crunchbase](, Google has bought 264 businesses through the years, the most of any of its big tech peers ([chart here](). While the vast majority of those will be relative unknowns to the general public, some have become household names. Alphabet’s $1.65 billion acquisition of YouTube back in 2006, for example, now looks like a master stroke, with the video-sharing platform bringing in $8.1 billion in ad revenue in the [first quarter]( of 2024 alone. Conversely, Motorola Mobility, the company’s biggest acquisition to date, fared a lot worse under the Alphabet umbrella — Google’s parent got rid of the phone-maker for $2.9 billion just ~2 years after acquiring it for $12.5 billion, in a “gargantuan mistake that only Google could afford to make”, according to [Time](. It’s impossible to say where we’ll place the $23 billion Wiz deal on the YouTube-to-Motorola scale in a decade’s time, but with two deals in completely different industries — both with $20 billion+ price tags — discussed in the last few months, Alphabet’s clearly ready to get something major done. [Read this on the web instead](   Burberry just reported a seriously unfashionable first [quarter](. Retail revenues at the iconic British fashion house dropped 22%, the company’s CEO stepped down, the regular dividend was suspended, and sales in all but one of its major regions were down double digits (except Japan, which was up 6%) — sending shares in the company down more than 18% as of 2:45pm in London. Plaid out For a long time, Burberry's iconic trench coats were a must-have for the aspirational elite of UK society and beyond. Originally designed for military use in World War I, by the mid-1990s 1-in-5 coats exported from the UK bore the Burberry [name](. But, as the global middle class expanded, particularly in China, the company targeted a wider appeal at lower price points — diluting the brand's exclusive appeal. This contributed to a flood of knock-offs and controversies, with some bars and pubs going as far as to [ban customers]( who wore the Burberry label in the early 2000s. Since then, the brand has undergone [reinvention after reinvention](. Its latest efforts have mostly focused on elevating the brand’s status, even at the risk of alienating customers with higher [prices](, as it seeks to replicate the success of other European top-tier labels. Indeed, Europe doesn’t do big tech — it does big luxury, with the soaring stock prices of companies like LVMH and Hermès emblematic of booming demand for European luxury products. Burberry, unfortunately, hasn’t been able to ride the wave, standing out as one of the few European luxury goods companies to have seen its share price go backwards over the last decade. The brand’s [new boss](, who has been CEO of both Coach and Michael Kors, is tasked with turning the ship around. [Read this on the web instead](   [Sponsored by Perplexity]( A better way to search What’s the most visited city? How many cars will be self-driving in 2030? Which cooking oil is the healthiest? What’s the success rate of Lasik surgery? What’s the Mpemba Effect?The answer to all of these questions is [Perplexity](: a better, AI-powered search engine. Perplexity searches the internet in real time to provide the knowledge you’re actually looking for. With sources and citations, [Perplexity answers are accurate and trusted](. Instead of scrolling through 10 blue links, get a single, comprehensive answer that summarizes what you need to know in a conversational way. Whether you're researching an industry, planning a trip, or need to quickly understand a new concept at work, Perplexity provides answers in seconds. [Download the app or browse on the web](. [Try Perplexity for free]( [Try Perplexity for free](   As the labor market bounces back from a pandemic slump, America’s female workforce is seeing a strong recovery… but not without consequences for some working women, per the [WSJ](. New [data]( released by the Labor Department reveals that the share of women aged 25-54 that are working or looking for work reached an all-time high of 78.1% in May, before falling slightly last month — meaning that women now hold a record 79 million jobs across the US. While the lasting effects of remote working, as well as economic uncertainty, have meant that more women than ever are in formal employment, women’s median weekly earnings were just 83.6% of men’s last year, per [BLS data](. Home truths Indeed, the widespread normalization of WFH has given mothers of young children in particular, who’ve previously been shut out of in-person jobs due to household responsibilities, more opportunities to rejoin the working world. Last year, nearly 69% of American women with kids under 6 years old were in the labor market, up 2.5% from 2019. And, with inflation, many women are now bringing home the (increasingly expensive) bacon by necessity. For a lot of women, though, at-home work is stacked on top of existing domestic obligations. A 2023 study from [Pew Research Center]( found that, even in opposite-sex marriages where the earnings of the husband and wife were relatively egalitarian (no more than a 40:60 split in either direction), wives spent on average 4.5 hours more time per week on caregiving & housework than their spouses. [Read this on the web instead](   More Data - Going, going, gondola: Venice netted more than 2 million euros ($2.2 million) in its pilot program of a much-debated [day-tripper tax](... - …which still might not be enough to deter continental travelers: the [European Travel Commission]( projects that tourists will spend €800 billion in Europe this year — up 37% from pre-pandemic levels. - PayPal has been fined ~$27 million by Poland’s antitrust and consumer protection watchdog for its “general, ambiguous and incomprehensible” [contractual clauses](. - How a slew of [AI-generated content]( ended up on USA Today and Sports Illustrated sites. Find your own data. Top technology and business leaders are ditching traditional search engines for a better one: Perplexity. This free, [AI-powered search engine]( provides reliable, real-time answers to all of your pressing questions. Ad   Hi-Viz - Driven-thru: See how much inflation has [supersized prices]( at US fast food chains. - Fantastical visual from [The Pudding]( exploring how sci-fi worlds have evolved with society in recent decades. Off the charts: Which (delicious) regional fast-food chain has this footprint for its restaurants? Answer below. [Answer here.](   Thanks for stopping by! Have some [feedback](mailto:daily@chartr.co?subject=Feedback&body=Hi, I like the newsletters, but I had a thought for you...) or want to [sponsor this newsletter](mailto:advertising@sherwoodmedia.com?subject=I’m interested in advertising with Sherwood Media)?   Not a subscriber? Sign up for free below. [Subscribe](   [X]( [Instagram]( [Chartr Logo]( Sherwood Media, LLC produces fresh and unique perspectives on topical financial news and is a fully owned subsidiary of Robinhood Markets, Inc., and any views expressed here do not necessarily reflect the views of any other Robinhood affiliate... [See more]( [Sherwood Terms and Conditions]( [Our Editorial Standards]( [Contact Us](mailto:daily@chartr.co?body=Hi%2C%0A%0AI%20like%20the%20newsletters%2C%20but%20I%20had%20a%20thought%20for%20you...&subject=Feedback) [Advertise With Us](mailto:advertising@sherwoodmedia.com?body=I%E2%80%99m%20interested%20in%20advertising%20with%20Sherwood%20Media) [Unsubscribe](newsletter=chartr) [Privacy Policy](