☕️ Gone postal

Guess who picked a fight with Apple... August 14, 2020 [View Online]( | [Sign Up]( [Daily Brew]( TOGETHER WITH [Fundrise]( Good morning. Yesterday we gave a dishonorable mention in the caption contest to a reader who suggested “More barn!” thinking it was pure nonsense. But as other readers pointed out, that was actually a reference to a famous story involving Neil Young. He and bandmate Graham Nash were listening to Young's Harvest album in the middle of a lake, with one large speaker in the house and the other in a barn. Apparently, Young told his producer the mix was off and he wanted “more barn!” Goes to show, people in barn houses shouldn’t throw hay. MARKETS NASDAQ 11,042.50 + 0.27% S&P 3,373.43 - 0.20% DJIA 27,897.17 - 0.28% GOLD 1,960.80 + 0.61% 10-YR 0.717% + 3.40 bps OIL 42.35 - 0.75% *As of market close - Economy: The long road back for the labor market [reached a milestone](, with fewer than 1 million new jobless claims filed last week for the first time since mid-March. That still remains significantly above “normal” levels. 2020 [Here's the Mail It Sometimes Fails]( [Mailbox with I voted sticker ] Francis Scialabba Politicians say everything except what they mean. Except for President Trump, who yesterday [told Fox Business]( that he opposes Democrats’ funding proposals for the Postal Service because they would support the expansion of mail-in voting, which he’s made clear he doesn’t want. The proposals: Democrats want $3.6 billion for mail-in voting and $25 billion for the USPS under a new pandemic relief bill. The USPS is in trouble In June, former supply chain exec Louis DeJoy took over as postmaster general and was tasked with steering the Postal Service out of a financial crisis (it lost $2.2 billion in the quarter ended June). Over the last month, he’s [implemented]( cost-saving measures including cutting overtime, ordering mail to sit until the next day if it causes routes to run late, and shaking up leadership. Businesses and consumers started to complain about delays and congressional Democrats have demanded an investigation. DeJoy and USPS say deliveries haven’t slowed. Why this matters Up to 70% of voters could use mail-in voting this fall because of a little thing called COVID-19. Some states are automatically mailing ballots or ballot applications to voters.  Trump’s not a fan. The president [has said]( mail-in voting could lead to “the greatest fraud in history” this election—claims he hasn’t backed up with any sort of proof. His reelection campaign sued two Iowa counties yesterday that made it easier for voters to apply for mail-in ballots. Big picture: To deliver an unprecedented number of mail-in ballots on time, USPS needs more funding. With 81 days until the election.... Uncertainty about mail-in voting requirements and sudden changes to USPS operations could confuse voters. The Biden campaign said Trump’s comments are an “assault on democracy,” and the president was sabotaging “a basic service that hundreds of millions of people rely upon.” - Democrats [asked]( DeJoy to roll back his changes or else risk disenfranchising voters. Zoom out: Negotiations for that new COVID-19 relief bill continued to flounder this week, and the Senate is out on recess until September. �  �  �  mailto:?subject=Check%20out%20this%20story%20from%20Morning%20Brew!&body=Trump%20Says%20He%20Opposes%20USPS%20Funding%20to%20Block%20Mail-in%20Voting%20Expansion:%200A%0AWant%20more%20great%20content%3F%20Subscribe%20to%20Daily%20Brew%E2%80%94Delivering%20the%20latest%20business%20news%20from%20Wall%20St.%20to%20Silicon%20Valley,%20daily.%20 GAMING [It’s Taking All Our Willpower Not to Call This an Epic Battle]( You know when a business battle is high-stakes? When the $17 billion company is the underdog. The drama started when the company that owns the videogame Fortnite, Epic Games, threw the Silicon Valley equivalent of a fiery trash can at Apple's HQ: It [added]( a direct payments feature to its app. That's a declaration of war. All products sold in Apple’s App Store are required to use the store’s in-app purchase system, which takes up to a 30% bite out of every purchase. Developers have criticized that system for years, arguing it disadvantages anyone who’s trying to get a non-Apple app off the ground. Apple [returned fire]( by kicking Fortnite off the App Store—which Epic had anticipated and came prepared with a 1984-themed [PR campaign]( parodying Apple's iconic commercial. Epic capped off the day by [suing]( Apple. - Hours later, Google got in on the action, removing Fortnite from the Google Play Store for the same reason as Apple. Zoom out: With Fortnite among the top-grossing games on iOS, Epic is one of the few players with the firepower to take on the App Store. And it’s drawing attention to Apple's payments policy before CEO Tim Cook’s burns have finished healing from last month’s antitrust grilling. �  �  �  mailto:?subject=Check%20out%20this%20story%20from%20Morning%20Brew!&body=Legal%20Battle%20Breaks%20Out%20Between%20Fortnite%20Owner,%20Apple:%200A%0AWant%20more%20great%20content%3F%20Subscribe%20to%20Daily%20Brew%E2%80%94Delivering%20the%20latest%20business%20news%20from%20Wall%20St.%20to%20Silicon%20Valley,%20daily.%20 GEOPOLITICS [Historic Middle East Peace Deal Reached]( [UAE flag displayed in Tel Aviv ] UAE flag displayed in Tel Aviv last night. Oren Ziv/picture alliance via Getty Images. Yesterday, Israel and the United Arab Emirates reached a [historic agreement](, dubbed the Abraham Accord, to “fully normalize” their diplomatic and commercial relationship. - President Trump brokered the agreement as part of his and son-in-law and senior adviser Jared Kushner’s plan for the Middle East region. We don’t throw the h-word around lightly. When both countries sign bilateral agreements, which they're expected to do at the White House in the coming weeks, the UAE will become the third Arab country Israel has normalized relations with (it also struck deals with neighbors Egypt and Jordan in 1979 and 1994, respectively). - Why the kumbaya moment? The UAE and Israel are economic power players with shared commercial interests in sectors such as energy, tourism, and tech; they'll also establish direct flights between each other. - Plus...remember Poli Sci 101: “The enemy of my enemy is my friend.” Both Israel and the UAE are wary of Iran and its nuclear ambitions. The terms: Israel will (for now) hold off on annexing parts of the occupied West Bank at the request of President Trump, but PM Benjamin Netanyahu said he'll move forward with the plan eventually. �  �  �  mailto:?subject=Check%20out%20this%20story%20from%20Morning%20Brew!&body=Israel%20and%20United%20Arab%20Emirates%20Reach%20Historic%20Diplomatic%20Agreement:%200A%0AWant%20more%20great%20content%3F%20Subscribe%20to%20Daily%20Brew%E2%80%94Delivering%20the%20latest%20business%20news%20from%20Wall%20St.%20to%20Silicon%20Valley,%20daily.%20 SPONSORED BY FUNDRISE [It’s Time for a Relationship Your Mom Can Be Proud Of](#) [Fundrise]( Been in a toxic relationship with inconsistent investments? Good thing we found you a relationship worth investing in. Meet your new love interest, [Fundrise](. You’re sure to appreciate how they can help you achieve long-term appreciation. Fundrise is the platform that’s making investing in private real estate simpler, smarter, and more effective. Unlike most private real estate investments, Fundrise’s [low investment minimums]( give you the flexibility to invest the right amount, at the right time, to meet your goals. Their team has already transacted on more than $4.9 billion worth of real estate, and delivered 8.7%–12.4% average annual returns since 2014. Money $tatistic: Fundrise investors have earned more than $79 million in dividends alone. So let us introduce you to the smarter way to build a portfolio. Join over 130,000 investors who have [added real estate to their portfolios]( with Fundrise. [Sign up today](. AGRICULTURE [What Sorcery Is This?]( [Storm across the midwest ] [NOAA on Twitter]( Not the storm that blew Dorothy to Oz, but good guess. That is a [derecho](, a fast-moving wall of wind that [whipped through]( a swath of the Midwest from South Dakota to Ohio on Monday, flattening crops and damaging buildings. - It was the U.S.’ worst derecho since 2012. Winds exceeded 100 mph in some areas, and the storm sped across 770 miles in just 14 hours. Hundreds of thousands of Midwestern residents remain without power, and state officials are still assessing the damage. It’s expected to deal an especially [hard blow]( to farmers in Iowa, the top corn producer in the country. Early estimates say 10 million farm acres (almost a third of the state's cropland) could be damaged. Not only were crops blown over just weeks away from harvest, but silos with last year’s grains were busted open across the state. Iowa was expected to produce record yields and 18% of the nation’s corn crop this year. Daniel Acker/Getty Images �  �  �  mailto:?subject=Check%20out%20this%20story%20from%20Morning%20Brew!&body=Surprise%20Derecho%20Damages%20Crops%20Across%20Midwest:%200A%0AWant%20more%20great%20content%3F%20Subscribe%20to%20Daily%20Brew%E2%80%94Delivering%20the%20latest%20business%20news%20from%20Wall%20St.%20to%20Silicon%20Valley,%20daily.%20 QUIZ [Quizposting](#) [Weekly news quiz] Francis Scialabba We've been through a lot together this week. Throw on "Unwritten" by Natasha Bedingfield, grab a granola bar, and relive all the memories by [taking our weekly news quiz](. COMMUNITY [Headline Contest](#) Did you think audience participation week was over? Yeah right, we’re not going to give up this opportunity to pawn off our jobs on our lovely readers—which is what it’s all about today. The contest: We’ll give you a business story, your task is to come up with a headline that the Brew would run.  The story: After a long delay, AMC said it's [finally opening]( up 100 U.S. theaters on Aug. 20. On the first day of the reopening it's running a promotion called "Movies in 2020 at 1920 Prices," and each ticket will cost only 15 cents. Yes, there's lots of potential. Remember, we try to make the headlines witty/funny, but don’t let the humor get in the way of the information people need. One last rule: no longer than 55 characters. Share your headline submission [here](. We’ll publish our favorites tomorrow. WHAT ELSE IS BREWING - [The DOJ]( following a two-year investigation said Yale University illegally discriminates against white and Asian undergrad applicants. Yale called the allegations "meritless." - [40% of S&P companies]( discussed diversity and inclusion policies on Q2 earnings calls, compared with 4% in Q1, per RBC. - [Manhattan]( apartment rents fell 10% in July, according to Miller Samuel Inc. and Douglas Elliman. [But urban home prices]( are generally staying strong elsewhere. - [Chinese companies]( have raised more than double their haul from the same period last year in U.S. IPOs, despite threats to delist them from U.S. stock exchanges. - [Minority owners]( of the Washington Football Team are pressuring owner Dan Snyder to sell the franchise, the WSJ reports. SPONSORED BY THE MOTLEY FOOL [The Motley Fool]( The stock-picking experts have spoken. [The Motley Fool]( is back with 5 stocks under $49 that could ease the guilt you feel for not buying Shopify when TMF recommended it in 2016. Don’t miss out again and get a free copy of [“5 Growth Stocks Under $49” right here](. BREW'S BETS Follow Friday: Last week, we asked readers to send us their favorite social media accounts. Here are our favorites from what you sent in... - Instagram: Kids continuing to say the [darndest things](, the [best comments]( on NYT recipes, San Francisco’s [infamous fog]( incarnate, a compilation of [cool maps](, real-life rom-com [meet-cutes](, and some really [aesthetic floors](. - YouTube: [Two violinists]( playing amazing things for fun, an in-depth look at nostalgic shows and films [like Shrek](, a channel that’s making conceptual math [more interesting]( than your calculus textbook ever could, and, well, some [cat videos](. - Reddit: Ogle [sous vide]( and [homemade bread](, explore [underground places]( and [old recipes](, rate [meadows](, watch cute animals [break into sprints](, and identify [impossible-to-Google]( objects. FROM THE CREW [instagram influencer marketing] Francis Scialabba In our sister newsletter, [Marketing Brew](, Phoebe Bain is breaking down the latest news shaping the marketing world. If you want to dive deeper into... - The TV ad market's uphill battle - What's happening with TikTok - Some of the best marketing partnerships of 2020 ...then you need Marketing Brew in your inbox. [Sign up here](. FRIDAY PUZZLE Love this brain exercise from The Guardian: Which single word can be placed in each of the eight marked spaces to make eight meaningful sentences? -  _ I kicked him in the leg yesterday. - I _ kicked him in the leg yesterday. - I kicked _ him in the leg yesterday. - I kicked him _ in the leg yesterday. - I kicked him in _ the leg yesterday. - I kicked him in the _ leg yesterday. - I kicked him in the leg _ yesterday. - I kicked him in the leg yesterday _. SHARE THE BREW When you share the Brew, you earn rewards. From Brew swag like t-shirts and coffee mugs to exclusive content, we've got something for everyone in our premier rewards program. [Click here to get free swag.]( Hit the button below to start sharing the Brew. [Click to Share]( Or copy & paste your referral link to others: [morningbrew.com/daily/r/?kid=a905682a]( FRIDAY PUZZLE ANSWER The word is "only." Seems so obvious now, doesn't it? ** A Note From Fundrise We like to include this Fundrise [legal jargon](, if you please.             Written by [Alex Hickey](, [Jamie Wilde](, and [Eliza Carter]( Was this email forwarded to you? Sign up [here](. WANT MORE BREW?  Retail newsletter → [Retail Brew](  Tech newsletter → [Emerging Tech Brew](  Marketing newsletter → [Marketing Brew](  Quarantine newsletter → [The Essentials](  Business podcast → [Business Casual]( [ADVERTISE]( // [CAREERS]( // [SHOP]( Update your email preferences or unsubscribe [here](. View our privacy policy [here](. Copyright ©2020 Morning Brew. All rights reserved. 40 Exchange Pl., Suite #300, New York, NY 10005