☕ Diss tracks

Can Boeing turn things around...in space? May 06, 2024 [View Online]( | [Sign Up]( | [Shop]( [Morning Brew]( PRESENTED BY [Wayfair]( Good morning. Because she won’t remind you, I will: Mother’s Day is less than a week out. —Neal Freyman MARKETS: YEAR-TO-DATE Nasdaq 16,156.33 +9.42% S&P 5,127.79 +8.12% Dow 38,675.68 +2.55% 10-Year 4.500% +55.4 bps Bitcoin $63,728.00 +50.78% Coinbase $223.25 +42.31% Data is provided by *Stock data as of market close, cryptocurrency data as of 10:00pm ET. - Markets: Rate cuts appear to be [back on the 2024 menu]( following Friday’s softer-than-expected jobs report, fueling gains for all three major stock indexes last week. With the report calming worries that inflation is ticking back up, investors now project a 50% likelihood that the Fed will reduce rates in September. - Stock spotlight: Coinbase is [benefiting from the hype]( around new bitcoin ETFs. The crypto exchange reported a $1.2 billion quarterly profit last week, and net revenue rose by 115%.  SPACE [Can Boeing turn things around…in space?]( [A United Launch Alliance Atlas V rocket with Boeings CST-100 Starliner spacecraft onboard]( Kowsky After taking so many Ls on Earth the past few years, Boeing is hoping it can score a much-needed win by leaving the atmosphere. Tonight, Boeing is [planning to launch]( its Starliner capsule that will ferry two NASA astronauts to the International Space Station. It will have that new car smell—the vehicle has never carried a human crew onboard before. The stakes are high: For Boeing, Starliner is a chance to prove it can safely shuttle people to orbit and deflect mounting criticism of its quality control measures. For NASA, it’s an opportunity to reduce its dependency on SpaceX for space missions and add a new model to the space taxi fleet. How we got here A decade ago, NASA awarded [up to $6.8 billion]( in contracts to Boeing and SpaceX to fill in for the retired Space Shuttle program and ferry its astronauts to the ISS. Only Elon Musk’s company understood the assignment: - SpaceX has flown nine crewed flights for NASA since 2020, not to mention four with private astronauts. - Dogged by a series of technical issues, Boeing has launched only two Starliner test flights, neither of which carried people. That turned out to be a good thing: On one of the test runs, the computer onboard the spacecraft was 11 hours off, leading to chaos. In all, the Starliner program has been delayed for seven years and cost $1.5 billion more than expected. Even if Starliner dazzles in its inaugural crewed mission, the upside in the space taxi business is unclear for Boeing. The ISS is planned to be decommissioned in 2030, meaning Boeing could only make a maximum of six more missions for NASA. Plus, its 737 Max production troubles—stemming from a door plug blowout in January—left it with $3.9 billion in cash outflows in Q1, raising questions about its ability to fund its commercial space ambitions, Bloomberg reported. Looking ahead…NASA Administrator Bill Nelson is confident in Starliner, saying, “This is a clean spaceship, and it’s ready to launch.” Liftoff is scheduled at 10:34 p.m. ET from Cape Canaveral. PRESENTED BY WAYFAIR [The clock is ticking]( [Wayfair]( And every minute counts. That’s right—today is the final day of Way Day, aka [Wayfair’s biggest sale of the year](. Take advantage of sitewide discounts, limited-time flash deals, and free shipping* on almost everything. You’ll also save [up to 80%]( on everything from faucets to furniture. Now’s your chance to scoop up those household items that have been on your to-buy list for, oh, forever? The curtains for the living room, the wall art that brightens up the bathroom with a splash of color, the cozy new reading chair… And you can shop for it all just in time for summer. Outdoor furniture, anyone? [Shop the Way Day sale](. WORLD [Tour de headlines](#) [A woman poses for a picture with a cardboard cutout of Warren Buffett]Johannes Eisele/AFP via Getty Images Warren Buffett contemplated his own mortality at Berkshire’s meeting: Succession was the [topic du jour]( at the Berkshire Hathaway shareholder meeting in Omaha. After his longtime business partner Charlie Munger died last year at 99, CEO Warren Buffett—who turns 94 in August—revealed his heir apparent, Greg Abel, will have the final say on investment decisions in his absence. Buffett ended his Q&A portion with the quip, “I not only hope you come next year. I hope I come next year.” Adding to the ominous vibes, Buffett said AI is a genie that “scares the hell out of me.” Israel’s cabinet voted to close Al Jazeera: In what is believed to be the first time Israel has shuttered a foreign news outlet, the country ordered the Qatari-owned network to [close its local operations]( and officials confiscated equipment from its offices in Jerusalem. In a statement, Prime Minister Benjamin Netanyahu labeled Al Jazeera a “Hamas mouthpiece” that presents a national security threat and incites violence against Israel's soldiers. Al Jazeera called the move a “criminal act that violates human rights in access to information.” Israel’s Foreign Press Association said, “This is a dark day for the media and a dark day for democracy.” Other war updates: The Biden administration [put on hold]( a shipment of US-made ammunition to Israel, the first time it’s paused a weapons shipment to the country since Oct. 7, per Axios. Hamas’s armed wing claimed responsibility for a rocket attack on the Kerem Shalom border crossing between Gaza and Israel, which is [now closed]( to humanitarian aid. Two days of ceasefire talks ended in Cairo, with the Hamas delegation headed to Qatar to discuss the proposal. If Hamas does not accept the terms, Israel threatened to push into the city of Rafah “in the very near future.” MUSIC [The diss track is taking over hip-hop]( [Drake]( Sussman/Getty Images Drake and Kendrick Lamar, two of the biggest stars in hip-hop, spent the weekend hurling insults at each other in a flurry of diss tracks that had fans scrambling to decode the lyrics before the next song was released. Even Dua Lipa was tasked with [explaining the scrap]( on SNL. The [dizzying back-and-forth]( which included Lamar releasing three tracks aimed at Drake in the span of 36 hours, got increasingly personal, with accusations of physical abuse and secret children. - This being 2024, the beef also has a dose of AI: Drake suggested Lamar discreetly encouraged the estate of Tupac Shakur to demand Drake take down his song that used AI to generate new Tupac vocals (which he did). Big picture: Diss tracks have been a staple of hip-hop for decades, but they’ve taken over the genre in 2024, beginning with a [Megan Thee Stallion–Nicki Minaj feud]( in January. So what’s going on? One theory: In The Ringer, Charles Holmes argues the diss tracks reflect a [decaying commercial hip-hop industry]( that’s unable to produce new stars, leaving the old guard unmotivated to create anything of artistic value. Zoom out: Whatever it means for the current state of hip-hop, diss tracks are good for streams. Lamar’s “euphoria” was the No. 1 song on Spotify yesterday, and Drake’s “Family Matters” came in at No. 5. TOGETHER WITH MISO ROBOTICS [Miso Robotics]( Fast food’s flipping out. Forget touchscreens. The holy grail of fast-food automation is actually in the kitchen—[and Miso Robotics is the runaway leader](. Miso’s flagship robot Flippy can boost store profits by $20k a month. That’s why Flippy’s already fried 2m+ baskets for brands like Jack in the Box. [Join 34k+ investors by becoming a Miso Robotics shareholder today](. CALENDAR [The week ahead](#) [China's President Xi Jinping (L) and his wife Peng Liyuan wave upon their arrival for an official two-day state visit at Orly airport]Michael Euler/Pool/AFP via Getty Images Xi Jinping makes a rare visit to Europe. The Chinese president arrived in Europe yesterday for the [first time in five years]( making stops in France, Serbia, and Hungary to strengthen diplomatic and economic ties. He’ll need to be charming, because trade tensions between the EU and China are rising over cheap Chinese exports of green tech products that have undercut European manufacturers. The Met Gala is tonight. If you’ve managed to snag a [$75,000 ticket]( to the glitzy museum fundraiser, you’ll be expected to wear an outfit inspired by a 1962 dystopian short story, The Garden of Time (good luck). Zendaya, Jennifer Lopez, Chris Hemsworth, and Bad Bunny are the co-chairs, while the rumor mill is speculating whether Sam Altman, Caitlin Clark, and Swift/Kelce will show up. Apple will finally release new iPads. Apple will refresh its calcified iPad lineup for the first time in [more than 18 months]( with an event on Tuesday morning. What to expect? Major upgrades to the iPad Pro and the iPad Air, and updated versions of accessories, according to Bloomberg. Apple’s tablets need a jolt of…something: Sales plummeted 17% last quarter. Everything else… - President Biden will address rising antisemitism in a keynote speech commemorating the Holocaust Tuesday night. - South Dakota Gov. Kristi Noem’s [controversial book]( comes out on Tuesday. In the latest scandal, she wouldn’t confirm whether she had met Kim Jong Un as mentioned in the book. - Disney, Uber, Reddit, and Warner Bros. Discovery report earnings. - Eurovision begins on Tuesday in Malmo, Sweden, amid heightened security. - A Peter Jackson-restored 1970 Beatles film, Let It Be, will be released on Disney+ on Wednesday. GRAB BAG [Key performance indicators](#) [Madonna performs in Rio De Janiero]Mauro Pimentel/AFP via Getty Images Stat: If you get stage fright, skip to the next section—an estimated [1.6 million people]( showed up at Rio’s Copacabana beach to watch a free Madonna concert, the final stop on her global Celebration tour. According to Madonna’s team, it was her most-attended show ever and ranks among the biggest live audiences for a show ever. The concert was like an Eras Tour stop on steroids: With fans streaming in from around the globe, the city welcomed an extra 170 flights to its airports, Copacabana hotel bookings were at 98% capacity, and an estimated $49.5 million was injected into the economy. Quote: “I proposed to my girlfriend this weekend. Here's what it taught me about B2B sales.” Entrepreneur Bryan Shankman achieved Peak LinkedIn when he (unironically, it seems) [posted lessons for enterprise sales]( from the experience of asking his girlfriend to marry him. “Like a well-run sales cycle,” he wrote, “key milestones must be met throughout the relationship to ensure a Closed Won status at the end.” Congrats to Shankman and his fiancé on the closed deal—account management will take over from here. Read: Is this the most boring man in the world? ([WSJ]( NEWS [What else is brewing](#) - [The Fall Guy]( made a disappointing $28.5 million in its debut at the North American box office, marking the worst start to Hollywood’s summer season since 1995. - [Scammers]( are stealing money from people who rely on food stamps and cash assistance, the NYT reports. - [Hawaii Gov. Josh Green]( signed a bill that empowers Hawaiian counties to regulate short-term rentals, including Airbnbs. - [Experts]( weigh in on the turmoil at Tesla. - [Mystik Dan]( (18–1 longshot) won the Kentucky Derby in a dramatic photo finish. It was the race’s closest three-horse finish since 1947. RECS [Monday to-do list image] Sleeping tip: Nod off to a radio broadcast of a [full-length, fake baseball game](. Learn: How to build a [$20 billion semiconductor fab](. Feeling meh? Copy the [shrug emoji]( from this website. For indescribable feelings: A list of [words and phrases]( that don’t have an English equivalent. Healthcare for the future: [Grab your ticket now]( for Healthcare Brew’s event exploring AI streamlining operations and enhancing patient care. Don’t procrastinate: Level up your finance career today with [Wharton Online + Wall Street Prep’s certificate programs](. Enroll by the May 13 deadline and [take $300 off]( with code MORNINGBREW. Drive different: Eli Electric Vehicles is giving the urban transportation industry a glow-up. And boy, do they have [some compelling numbers]( to back up the buzz. [Read our article for the scoop]( *A message from our sponsor. GAMES [The puzzle section](#) Turntable: Just another Turntable Monday. [Play the word game here](. Nutritional facts It’s everyone’s favorite guess-the-snack game. We’ll give you the ingredients for a popular food product, and you have to name it. (This one might get stuck in your teeth.) Ingredients: Sugar, invert sugar, corn syrup, modified corn starch, contains less than 2% of citric acid, white mineral oil, natural and artificial flavor, red 40, carnauba wax. 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=a905682a]( ANSWER Swedish Fish. Word of the Day Today’s Word of the Day is: calcified, meaning “to make inflexible or unchangeable.” Thanks to James from Wisconsin for the suggestion. Submit another [Word of the Day here](. ✢ A Note From Wayfair *Visit [wayfair.com/shipping]( for exclusions. ✳︎ A Note From Miso Robotics This is a paid advertisement for Miso Robotics’ Regulation A offering. Please read the offering circular at [invest.misorobotics.com](. ✤ A Note From Eli Electric Vehicles This is a paid advertisement for Eli Electric Vehicles’ Regulation CF offering. Please read the offering circular at [invest.eli.world](. Written by [Neal Freyman]( Was this email forwarded to you? Sign up [here](. Get smarter in just 5 minutes - Money & Career: [Money With Katie](  [Bossy]( 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