☕️ I'm single

What did Apple reveal in its event yesterday? November 11, 2020 [View Online]( | [Sign Up]( [Daily Brew]( TOGETHER WITH [Fundrise]( Good morning. On this Veterans Day, we want to express our deep gratitude to all those who have served in the U.S. military. A few logistical notes about the federal holiday: - Most banks are closed today, but the stock market is open. - Entrance fees at national parks and forests are waived, so hope you can make it out on Going-to-the-Sun Road. MARKETS NASDAQ 11,553.86 - 1.37% S&P 3,545.70 - 0.14% DJIA 29,420.92 + 0.90% GOLD 1,875.70 + 1.15% 10-YR 0.966% + 3.20 bps OIL 41.37 + 2.68% *As of market close - Markets: We're experiencing what Wall Street wonks call a "[rotation]("—when investors sell off shares in a certain type of company and pile into another category. Because of the promising vaccine news on Monday, stocks that had been clobbered by the pandemic are looking more attractive...and vice versa. The tech-focused Nasdaq closed down for a second straight day while the Dow finished higher for a second straight day. COVID [Covid Dines and Dashes]( [Restaurant with Covid sign] Jeffrey Greenberg/Education Images/Universal Images Group via Getty Images Considering we can't even keep track of our wallets, it's not particularly surprising humans have struggled to understand how an invisible menace like the coronavirus spreads across the population. But a [study]( published yesterday in Nature offers new clues about Covid-19's favorite places to jump hosts. The main takeaways - Indoor spaces = the most risky. Crowded indoor venues, such as restaurants, gyms, and cafes, accounted for the majority of the transmission. Of those, restaurants were by far the riskiest place for infections (4x more dangerous than gyms and coffee shops), the report's senior author, Jure Leskovec, told reporters. - The class divide: People who live in lower-income areas were also [more likely]( to be infected with Covid-19, according to the research. Not only were they less likely to work from home, but also the indoor venues they visited were more crowded. For example, the average grocery store in poorer neighborhoods had 59% more hourly visitors per sq. ft. than locations in more affluent areas. Quick note on methodology: Using anonymized smartphone data, the researchers tracked the movements of 98 million people in 10 U.S. metros from March to May—the first wave of the virus. They superimposed this data on top of Covid-19 case numbers to [create a model]( that simulated coronavirus infections. Why the study matters Because it can inform how leaders confront the recent surge in cases, which are now well above 100,000/day in the U.S. Should we lock it all down again? These researchers argue that probably won't be necessary, because limiting capacity at indoor venues can meaningfully contain the spread of the virus—when paired with critical precautions like social distancing and wearing masks. - In the Chicago area, limiting capacity at 20% cut down predicted new infections by more than 80%. - On the other hand, reopening indoor businesses at full capacity = recipe for superspreading. Bottom line: While these researchers call for a nuanced approach to reopening the economy, public officials may find it easier to wield a blunt instrument. NYC Mayor Bill de Blasio [warned]( of "a lot more restrictions" in the event of a second wave. �  �  �  mailto:?subject=Check%20out%20this%20story%20from%20Morning%20Brew!&body=New%20Study%20Indicates%20Crowded%20Indoor%20Spaces%20Are%20Ripe%20for%20Covid%20Transmission:%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 TECH [Macs and Their Chips Think the Same Now]( [M1 chip] Apple Yesterday, Apple [ended]( a 15-year relationship the way any rational person would: with a press conference. In a virtual event called "One More Thing," the tech giant released its latest slate of Mac computers featuring the M1 chips it created in-house—a major departure from tapping Intel for chips, which Apple had done since 2005. Big picture: CEO Tim Cook has been steering the ship toward the Isle of Homemade Chips for years; the company [poured]( over a decade of R&D and at least $1 billion in acquisitions into the effort. The M1 is more like the chips that power the iPhone than previous versions, which [means]( apps developed for iPhones can now be used on Macs. Now for the fun, shiny things: The new hardware includes a super-thin MacBook Air, a new MacBook Pro with juiced-up battery life, and a Mac Mini desktop. - The new Big Sur OS also drops today. Now for the fun, giggly things: Actor/comedian/national treasure John Hodgman [returned]( to his role as a PC in a skit made specially for the announcement. �  �  �  mailto:?subject=Check%20out%20this%20story%20from%20Morning%20Brew!&body=Apple%20Breaks%20Up%20With%20Intel%20With%20New%20Hardware%20Featuring%20Internally%20Created%20Chips:%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 RETAIL [Single and Ready to Mingle Spend All Our Money]( [The president of Taobao speaks at Alibaba's Global Shopping Festival in front of a pink, purple, and blue screen displaying sales from Singles Day in 2019. ] Alibaba As you read this, legions of shoppers are breaking out their Alipay wallet to [participate]( in the world's biggest shopping event: Singles Day. The annual Chinese shopping event features discounts on everything from robot vacuums to real estate and includes "shoppertainment," such as a gala with celeb performances, [livestreamed sales](, and [online games](. - Singles Day was created by Alibaba execs Jack Ma and Daniel Zhang as a foil to Valentine's Day. The date 11/11 was picked because it looks like "bare branches"—single and unattached. We feel even lonelier now. Alibaba kicked sales off a little early this year, and as of 12:30am local time, [consumers spent]( $56.3 billion on its Taobao and Tmall e-commerce platforms. To move all that product around, Alibaba's logistics arm has prepped 3,000 chartered flights and cargo ships, 3 million logistics workers, and 10,000 mobile lockers. Big picture: The pandemic pushed more Chinese consumers to e-commerce, and Singles Day will provide more intel on the health of the Chinese economy. Given travel restrictions, imports and foreign luxury products are expected to perform well. �  �  �  mailto:?subject=Check%20out%20this%20story%20from%20Morning%20Brew!&body=Singles%20Day%20to%20Test%20China's%20Consumer%20Demand:%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 [Cheese Boards and Investment Portfolios Aren’t That Different](#) [Fundrise]( Nobody likes a cheese board with only one kind of cheese. And just like a delicious, crowd-pleasing, well-curated cheese platter, we believe [your financial portfolio is best when diversified](. Which is where [Fundrise]( comes in. Think of them as the aged gouda to your creamy Camembert. Fundrise is the first platform to create a simple way for you to invest in a low-cost, diversified portfolio of institutional-quality real estate. They combine state of the art technology with in-house experience to help you invest smarter. Through advanced diversification, you could be increasing your return potential. [Fundrise offers access to the asset class of private market real estate to the everyday investor](. No matter how you slice it, diversifying your portfolio through alternative investments reduces risk and improves stability in the long term. [Start investing in private real estate with Fundrise today](. We like to include this Fundrise[legal jargon](, if you please. ECONOMY [Remember This Person]( [Under U.S. Secretary of State Lael Brainard testifies during a hearing before the House Ways and Means Committee] Alex Wong/Getty Images It's Lael Brainard, a Fed governor and [rumored frontrunner]( to become Joe Biden's Treasury secretary pick. Highlights from a lengthy résumé: Harvard PhD, adviser to President Clinton, Brookings fellow, and a couple Treasury roles under Obama, including as the department's top global diplomat. She joined the Federal Reserve in 2014 and recently helped implement its emergency lending program. While Brainard has won praise from the left for resisting banking regulation rollbacks, she's largely viewed as a [moderate pick](. And that might be key to getting her through Senate confirmation: "She doesn't upset anyone too much," Politico reports. If picked...Brainard would be the first woman to head the Treasury. As top economic advisor to the president, she'd be responsible for steering the U.S. out of a recession, crafting a new stimulus deal, and bumping elbows with her old desk buddy, Fed Chair Jerome Powell. - Her departure would leave the Fed's board, already two members short, with just four governors—all Republican. If she isn't...other folks reportedly under consideration include Ariel Investments co-CEO Mellody Hobson, Atlanta Fed President Raphael Bostic, and Powell's predecessor, Janet Yellen. �  �  �  mailto:?subject=Check%20out%20this%20story%20from%20Morning%20Brew!&body=Fed%20Governor%20Lael%20Brainard%20Rumored%20Frontrunner%20for%20Biden%20Treasury:%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 STARTUPS [Hopin Loser, We’re Raising Money]( Yesterday, virtual events startup Hopin announced it [raised $125 million]( at a valuation of more than $2 billion. The backstory: Londoner Johnny Boufarhat was [homebound]( for two years after falling sick. As we've all learned recently, Netflix can only sustain you for so long, and he was itching for a way to network online. So last year, he launched Hopin, which recreates almost every part of an in-person event, from Twitch-like keynote presentations to Chatroulette-like networking functions. Then Covid-19 arrived and so did blazing-fast growth. Catapulted by social distancing mandates, Hopin went from four employees at the beginning of 2020 to over 200 now and it’s targeting 800 in 2021. - Hopin also says it's profitable, with annual recurring revenue of $20 million. Users? Over 3.5 million. - Those metrics make it one of the fastest-growing startups ever. Looking ahead...with Monday's [encouraging news]( about a potential Covid-19 vaccine, it's possible live events will return sooner than we thought. But Hopin's betting it can find a foothold in a post-Covid economy with "hybrid" events. �  �  �  mailto:?subject=Check%20out%20this%20story%20from%20Morning%20Brew!&body=Virtual%20Events%20Startup%20Hopin%20Vaults%20Past%20%242%20Billion%20Valuation:%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 WHAT ELSE IS BREWING - [The European Commission]( filed antitrust charges against Amazon, alleging it unfairly wields its dual role as e-commerce platform and e-commerce retailer. - [The U.S. Supreme Court]( seemed to indicate it wouldn't strike down the Affordable Care Act as the law faces its third major legal battle. - [Uber's]( new feature will let you reserve rides up to 30 days in advance and pick your favorite driver. - [Ulta Beauty]( inked a bigtime deal with Target to open stores inside Target locations. - [Spotify]( is making another pod purchase—ad platform Megaphone for $235 million. SPONSORED BY BOMBAS [Bombas]( Forget going barefoot ever again. When you’ve got [Bombas]( socks acting like cozy little cocoons for your toes, barefoot just sounds crazy. Seriously—their brand new slipper socks support you like marshmallow mittens for your feet. And their merino wool will hold you tight on cold, lonely nights. Plus, for every pair sold, Bombas donates a pair to someone in need. Use code BREW for [20% off your first purchase](. BREW'S BETS Branding fails: Some of these will [bring back memories](, like the Pontiac Aztek and the Tropicana redesign. ICYMI: A crazy [hole-in-one]( during practice at The Masters yesterday. Cannot wait for Thursday. Run it: Turn running into a high-stakes game by downloading [Runtastic](, [Zombies, Run!](, or (you know this one) [Pokémon Go](. And keep an eye out for a [new app]( that lets you pose as an undercover CIA agent, currently testing in Singapore. Movers and shakers: Emmy-winning journalist Carlos Watson chats with change-makers ranging from Andrew Yang to Ava DuVernay on his podcast/YouTube show. [Watch]( or [listen]( today. GAMES [Flag Trivia](#) [Passport of Norway] Neue These are the [new Norweigan passports](, developed by the design studio Neue. Why are we showing them to you? Because a) they are undeniably hot and b) it offers a segue to a trivia question. Which is this: The exteriors of the new Norweigan passport are red, white, and blue to reflect the colors of Norway’s flag. Which of the following flags is not red, white, and blue? - Israel - United Kingdom - Russia - Nepal SHARE THE BREW When you [share the Brew]( with your network, you earn free swag like our classic Morning Brew t-shirt. Are you one of those people who is always going places? Then you probably need a shirt. Might as well be this bad boy with the Morning Brew logo plastered across the chest. [Click here to get free swag.]( Hit the button below to learn more and access your rewards hub. [Click to Share]( Or copy & paste your referral link to others: [morningbrew.com/daily/r/?kid=4904f90a]( ANSWER Israel's flag is just blue and white.             Written by [Alex Hickey](, [Neal Freyman](, 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