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☕ Getting the trophy (again)

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morningbrew.com

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Thu, Apr 25, 2024 09:52 AM

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How TikTok can avoid a ban... April 25, 2024 | | PRESENTED BY Good morning. And so it begins: Cicada

How TikTok can avoid a ban... April 25, 2024 [View Online]( | [Sign Up]( | [Shop]( [Morning Brew]( PRESENTED BY [Graze]( Good morning. And so it begins: Cicadas are emerging in South Carolina. In Newberry County, their mating calls have gotten so noisy that residents are calling the sheriff’s office wondering why they’re hearing a roar or sirens. Remember, cicadas are loud—like, as loud as a jet engine. And this year, the US is getting a double whammy, with Brood XIX and Brood XIII emerging together for the first time since 1803. As the weather warms, these insects are going to rise up across the South and the Midwest. That means millions of people are living in areas that experienced the path of totality for the eclipse and will experience the path of totality for the cicadas. You win some, you lose some. —Molly Liebergall, Cassandra Cassidy, Matty Merritt, Abby Rubenstein, Neal Freyman MARKETS Nasdaq 15,712.75 +0.10% S&P 5,071.63 +0.02% Dow 38,460.92 -0.11% 10-Year 4.652% +5.4 bps Bitcoin $64,304.90 -3.19% Tesla $162.13 +12.06% *Stock data as of market close, cryptocurrency data as of 3:00am ET. [Here's what these numbers mean.]( - Markets: Stocks were mostly like a drive through Illinois yesterday: [flat](. One exception was Tesla, which, despite reporting a dip in revenue on Tuesday, shot up after Elon Musk reassured investors that a less expensive model will come out soon.  TECH [Here’s how TikTok could avoid a national ban]( [TikTok logo on a tightrope over US capitol]( Scialabba As Kesha prophesied years ago, TikTok [is] on the clock [to make sure] the party don’t stop. Yesterday, President Joe Biden [signed into law]( the controversial new bill that gives TikTok’s Chinese parent company, ByteDance, 269 days (~9 months) to sell the social media platform or else have it banned in the US. TikTok replied: “Rest assured, we aren’t going anywhere,” CEO Shou Chew said in a [video]( posted soon after the bill became law. TikTok is only considering a sale as a last resort if all the legal challenges it’s promising to fling at the US government don’t pan out, Bloomberg [reported](. That means this showdown is likely destined for months or years of court proceedings that could [delay]( the ban from taking effect. - TikTok and its users are expected to file lawsuits arguing that a forced sale infringes on the free speech rights of TikTok’s 170 million monthly US users. TikTok will likely also point to potential financial harm for creators who make a living off of the platform. - The US is expected to argue that it isn’t violating the First Amendment, and/or that there’s no other way to protect national security and American users’ data from possibly being tapped by China (which China and ByteDance deny doing). If TikTok’s lawsuits fail…there might not be a US-approved buyer that has tens of billions of dollars and isn’t a massive tech company (because antitrust), but government and business leaders are [trying]( to get a gang of investors together to go in on a Hamptons timeshare buy TikTok. Still, China has vowed to block any sale, and it considers the app’s [precious algorithm]( to be a critical asset that ByteDance could retain no matter what.—ML PRESENTED BY GRAZE [Mow automation, less problems]( [Graze]( [Graze Robotics]( electric, autonomous mower solves one of the biggest problems for airports, golf courses, and solar fields: finding enough people to mow 7m+ acres of grass. It's why they've already racked up over 2,500 unit reservations worth [$30m in annual recurring revenue]( by next year. Graze has partnered with DFW airport, CVG airport, RWE Solar, and more. That’s just the beginning, too. The opportunity ahead of them is valued at over $70b. Ready to get your cut? Today’s your last chance. [Become a Graze Robotics shareholder here](. WORLD [Tour de headlines](#) [The steps of the US Supreme Court]Kent Nishimura/Getty Images Trump’s absolute immunity claim comes to the Supreme Court. The high court will hear arguments today on Donald Trump’s legal team’s novel theory that a president has [total immunity]( from federal prosecution for acts committed while in office. Though the case stems from a criminal proceeding accusing Trump of interfering with the 2020 presidential election, what the court decides will have major implications for the 2024 contest—both because of what the justices decide and what the timing of their decision may mean for Special Counsel Jack Smith’s election interference case against Trump. SCOTUS seems split on emergency abortion access. The justices appeared to be in disagreement during oral arguments yesterday over whether a federal law allowing emergency doctors to [perform abortions]( they consider medically necessary can overrule state bans, like Idaho’s, that outlaw the procedure in almost all circumstances. As the court continues to grapple with the implications of its decision to overturn Roe v. Wade, the division looked like it could be across not only ideological lines but gender ones as well, with conservative Justice Amy Coney Barrett asking pointed questions about Idaho’s stringent ban alongside the liberal judges. Big AI spending boosts Meta’s costs. Meta reported record Q1 revenue yesterday, but it was [overshadowed]( by the billions the company is spending in its efforts to win the AI race and to try to make the metaverse happen. Investors were displeased with the company’s forecast that its spending will rise by $10 billion to support AI development, sending Meta’s stock price down 15% after hours. But Zuck urged them to keep the faith, saying, “We’ve historically seen a lot of volatility in our stock during this phase of our product playbook.” SPORTS [This Trojan got his Heisman back]( [Reggie Bush receiving the Heisman Trophy]Michael Cohen/Getty Images Nearly 15 years after Reggie Bush had to give up his Heisman Trophy, the college football sensation is being reunited with the symbol of athletic excellence. The Heisman Trust announced yesterday that it [reinstated]( Bush as a Heisman Trophy winner due to the way the rules of college football’s amateurism model have changed, marking a big win for both the former University of Southern California running back and the future of Nissan’s Heisman House commercials. Run it back: In 2010, Bush relinquished his trophy—which honors the best player in college football each year—after an NCAA investigation found that he and his family received money and gifts from prospective agents while playing for the USC Trojans. But after the NCAA began allowing player compensation in 2021, Bush and several other Heisman winners and former teammates [lobbied]( for his reinstatement as the winner. The Heisman Trust said its decision followed a “deliberative process” after monitoring changes in the college football landscape, including the 2021 SCOTUS decision that paved the way for student-athletes to profit off their names, images, and likenesses (NIL). Looking ahead…Bush filed a defamation suit against the NCAA last year over its allegation that he participated in a pay-to-play program while in school. The lawsuit is expected to continue despite Bush’s Heisman reinstatement.—CC TOGETHER WITH ADOBE [Adobe]( Marketing magic in your pocket. Adobe Express is a marketer’s go-to tool for building buzzy designs and popping visuals. The new [Adobe Express]( mobile app brings Firefly gen AI-powered features that let you insert, remove, and replace people or objects with simple text prompts. All your favorite tools, now in the palm of your hand. [Try it out](. TRAVEL [Day-trippers will have to pay to swing by Venice]( [Tousist stand near Santa Lucia train station on April 24, 2024 in Venice on the eve of the start of the official trial of the city’s booking system for day-trippers]( Bertorello/AFP via Getty Images It will cost you a small fee to eat, pray, and/or love in Venice this summer. Day-trip visitors must [pay]( a little over $5 to visit the historic city starting today, making it the first major city to charge this kind of entrance fee. The surcharge comes after numerous warnings that the city’s infrastructure cannot support the overtourism it’s experiencing. UNESCO even threatened to put Venice on its list of endangered heritage sites if local authorities didn’t make changes. - The new fee targets single-day visitors, who account for about three out of every four tourists to the city but contribute less than 20% to total tourism spending. - Some critics think the fee violates Italy’s constitutional right to freedom of movement, while others say it doesn’t go far enough because a measly 5-euro fee won’t make a dent in the nearly 30 million people who visit Venice every year. Big picture: The Floating City isn’t the only travel hot spot attempting to limit tourists. Other destinations have raised [tourist taxes]( and Barcelona even [removed]( a popular bus route from map apps so tourists stop clogging up public transit.—MM GRAB BAG [Key performance indicators](#) [A hand holding up a reserved sign and other hands surrounding it holding cash]Francis Scialabba Stat: Looking for a lucrative side hustle? Forget selling the stash of baseball cards you left in your mom’s basement and consider hawking restaurant reservations instead. According to the New Yorker, one college student made $70,000 last year by [selling tables]( at hotspots like NYC’s Carbone on Appointment Trader, while a West Coast-based hotel concierge raked in $80,000 through his side gig selling resys. But be warned that competition is fierce: The New Yorker notes that in order to snag coveted dining slots, you’ll have to compete with bots and restaurant employees who are willing to risk their main jobs to get into the sales game. Quote: “Thankfully, considering the frequency of exercise and numbers of horses involved, this type of incident is extremely rare.” Five military horses went rogue and took a [gallop through London]( yesterday after getting spooked when building materials from a construction site fell near them during rehearsals for the annual Trooping the Colour parade. The horses tore through the city, smashing into vehicles, and confused onlookers saw one covered in blood before all the equines were ultimately rounded up. Commanding Officer of the Household Cavalry Mounted Regiment Matt Woodward confirmed that the sight was unusual, noting that ~150 horses are exercised in the city daily, but usually without escaping. Read: How a once-obscure liquor made by monks finally made it big—again. ([Vinepair]( NEWS [What else is brewing](#) - [The US]( has reportedly opened a criminal probe into consulting giant McKinsey’s role in the opioid crisis. - [Business groups]( including the US Chamber of Commerce, sued to block the FTC’s new rule banning noncompetes that make it harder for employees to change jobs. - [Arizona lawmakers]( voted to repeal the state’s recently reinstated 1864 ban on abortion after two failed attempts. A repeal of the 160-year-old law would leave a more recent 15-week ban in place. - [Boeing]( burned through $3.9 billion in the first quarter as it scrambled to deal with the fallout from the door plug blowout on an Alaska Airlines plane, but it squeaked out better earnings than anticipated. - [Rudy Giuliani, Mark Meadows]( and 16 other allies of Donald Trump were indicted in Arizona yesterday for alleged interference in the 2020 election. - [The Department of Transportation]( issued new rules requiring airlines to provide cash refunds instead of vouchers to passengers whose flights have been canceled or seriously delayed. Other new regulations forbid hiding bag check and cancellation fees as part of the Biden administration’s push to ameliorate what it considers junk fees. - [Megan Thee Stallion]( was sued for alleged harassment by a photographer who worked for her and claims he was forced to watch her in a sexual situation. RECS [To do list Thursday] Productivity tip: Keep a [WTF journal]( to become a problem-solver at work. The eyes have it: [This quiz]( tests how well you can read emotions in people’s faces. Stay focused: A playlist of [music]( to help you concentrate while completing a task. Good enough to eat: The finalists in a [food photography]( contest. Get freaky: Drink your coffee in style with our best-selling Excel Freak in the Sheets mug. [Snag one here](. Hear, hear! The [Horizon IX by hear.com]( isn’t your stereotypical hearing aid. Experience unmatched clarity paired with near invisibility. Clear sounds + no fuss. Start your [no-risk 45-day trial]( today.* Lithium: The [demand for lithium is growing]( but legacy methods of extracting lithium are holding the industry back. EnergyX can increase extraction efficiency by 300% and reduce processing time. [Learn more about their investment opportunity]( *A message from our sponsor. GAMES [The puzzle section](#) Brew Mini: Like an ideal Natty Boh before an O’s game, today’s crossword is a tall boy. [Play it here](. Three Headlines and a Lie Three of these headlines are real and one is faker than a Temu Rolex. Can you spot the odd one out? - Biden’s new chopper is demoted after [scorching]( White House lawn - Harry Styles stalker [jailed]( for sending him 8,000 cards in a month - These ultramarathon runners say a [broken finger]( is the best hack for running long distances - You can now [buy]( a flame-throwing robot dog for under $10,000 SHARE THE BREW [Share Morning Brew]( with your friends, acquire free Brew swag, and then acquire more friends as a result of your fresh Brew swag. We’re saying we’ll give you free stuff and more friends if you share a link. One link. Your referral count: 0 [Click to Share]( Or copy & paste your referral link to others: [morningbrew.com/daily/r/?kid=4904f90a]( ANSWER We made up the one about running with a broken finger. Word of the Day Today’s Word of the Day is: ameliorate, meaning “to make better or more tolerable.” Thanks to Adam from North Kingstown, RI, and several other readers for improving our day with the suggestion. Submit another [Word of the Day here](. ✢ A Note From Graze This is a paid advertisement for Graze Robotics Regulation CF offering. Past performance is not indicative of future results. Please read the offering circular at [invest.grazerobotics.com](. ✤ A Note From EnergyX This is a paid advertisement for EnergyX’s Reg A offering. Please read the offering circular at [invest.energyx.com](. Written by [Neal Freyman]( [Abigail Rubenstein]( [Molly Liebergall]( [Cassandra Cassidy]( and [Matty Merritt]( Was this email forwarded to you? Sign up [here](. Interested in podcasts? - Check out ours [here]( [ADVERTISE]( // [CAREERS]( // [SHOP]( // [FAQ]( Update your email preferences or unsubscribe [here](. View our privacy policy [here](. Copyright © 2024 Morning Brew. All rights reserved. 22 W 19th St, 4th Floor, New York, NY 10011

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