☕ Dawn of a new era

Why Tom Cruise is mad at Christopher Nolan... July 12, 2023 [View Online]( | [Sign Up]( | [Shop]( [Morning Brew]( TOGETHER WITH [Cariuma]( Good morning. If you see people walking around this evening looking like they don’t have a purpose in life, they’re probably sports fans. Today, the day after the MLB All-Star Game, is considered the slowest sports day of the year, with none of the Big Four North American leagues holding competitive games. But there are still sports on, and we’re especially pumped for this morning’s Wimbledon quarterfinal match featuring the American underdog, Christopher Eubanks, against world No. 3 Daniil Medvedev. No one expected Eubanks to reach this point in the tournament—not even himself. He’s extended his hotel reservation in London three times already. —Cassandra Cassidy, Sam Klebanov, Matty Merritt, Neal Freyman [CLICK]( THIS TO REMAIN A SUBSCRIBER Clicking on newsletter links is the only way for us to know you are reading (and enjoying) Morning Brew. If you don't click by next month, you will stop receiving this newsletter. [Click here]( to let us know that you’re still an active subscriber. Thanks! MARKETS Nasdaq 13,760.70 +0.55% S&P 4,439.26 +0.67% Dow 34,261.42 +0.93% 10-Year 3.974% -2.6 bps Bitcoin $30,578.18 -0.60% Coinbase $89.15 +9.78% *Stock data as of market close, cryptocurrency data as of 2:00am ET. [Here's what these numbers mean.]( - Markets: Stocks snapped out of their three-day funk thanks to [bright news]( across the corporate world, such as Salesforce raising its prices and Zillow getting an analyst upgrade. But for our stock spotlight, we have to give a h/t to Coinbase, which has soared nearly 73% since the SEC sued it for securities violations in early June . - Economy: The one thing that could stop a budding rally in its tracks? A hot inflation print. The consumer price index for June drops this morning, and hopefully for everyone’s sake it shows that inflation has continued its decline.  Markets Sponsored by LiquidPiston Propulsion and profitability: LiquidPiston’s X-EngineTM is up to 10x more powerful and 30% more efficient than legacy motors. With $30m+ in contracts, they’re already profitable. [Become a shareholder as they continue to grow](. This is a paid advertisement for LiquidPiston’s Regulation A+ Offering. Please read the offering circular at [invest.liquidpiston.com](. ENVIRONMENT [The dawn of a new, human-created epoch]( [Aerial photo of Crawford Lake]( Peter Power/Getty Images Let’s send it back to fourth grade real quick: Scientists divide the geological history of the Earth into stages, such as epochs, periods, and eras, which are defined by fundamental shifts in the natural world. For the last 11,700 years, we’ve been living in the Holocene epoch. But a group of renegade scientists argues that a new epoch began in the mid-20th century: the [Anthropocene](. Those scientists, who make up the Anthropocene Working Group, advanced their claims in a big way yesterday by selecting a “golden spike,” or one physical spot that marks an epoch, for the proposed Anthropocene: Crawford Lake in Ontario, Canada. What is the Anthropocene? It’s the first epoch defined by humans rather than Mother Nature, and it reflects the (harmful) impact that Homo sapiens have had on the Earth. Scientists chose Crawford Lake because “it contained the clearest and most pronounced evidence of humankind’s influence on the global geologic record,” per the New York Times. - The most significant change in the lake’s sediment is a sharp increase in radioactive plutonium around 1950. - The lake’s mud also reveals heightened levels of ash and nitrogen, reflecting pollution from fossil fuels. But the Anthropocene is still in review Scientists are conflicted about whether the Anthropocene should be labeled a new epoch in Earth’s geological history. Opponents argue that the period of human influence, however significant, is just a blip in the history of the world. Most epochs span at least a few million years; the Anthropocene would be just ~70 years old. But that’s why other scientists say it should be formally codified. Humans have made outsized changes to the Earth in the relatively infinitesimal amount of time we’ve spent on the planet. Many experts believe that marking that impact in history books could inspire an attitude shift in the struggle to mitigate climate change. Looking ahead…in the coming years, two big-name international scientific bodies—the International Commission on Stratigraphy and the International Union of Geological Sciences—will decide if the Anthropocene should be considered an official epoch. But the decision is going to be contentious: The battle over the Anthropocene has already caused a split within the scientific community, and some members of the Anthropocene Working Group have resigned due to contrasting opinions.—CC   TOGETHER WITH CARIUMA [Sustainable sneaks with 40k+ 5-star reviews]( [Cariuma]( Style + ethics…such a dynamic duo. Is there anything better than finding a fit that makes a fashion statement and helps the environment? Meet Cariuma. Their [B Corp-certified kicks]( have it all: unmatched comfort with a broken-in feel and fresh colorways—perfect for any vacay travel plans. Not to mention that each purchased pair plants 2 trees. And get this: [Everybody loves ’em]( from tastemakers at Hypebeast and Vogue to bona fide A-listers like Jon Hamm and Helen Mirren. Sustainability + celeb-endorsed style? No wonder these bad boys keep breaking the internet. [For a limited time, use code BREWJULY for 20% off](. WORLD [Tour de headlines](#) [Activision logo superimposed on Microsoft's logo]Alyssa Nassner Microsoft’s takeover of Activision Blizzard cleared for landing. A federal judge [rejected]( the FTC’s attempt to stop Microsoft from buying the video game publisher Activision Blizzard, paving the way for the $69 billion deal to close as soon as this month. The FTC argued that the takeover would result in less competition in the video game industry and limit access to Activision’s blockbuster games, but the judge disagreed, saying, “To the contrary, the record evidence points to more consumer access to Call of Duty and other Activision content.” While the deal still needs UK regulators’ approval, they also signaled yesterday they would let it proceed. Bank of America slapped with $250 million in fines for “junk fees.” Regulators penalized the US’ second-biggest bank for a series of [consumer abuses]( including opening credit card accounts without consent, charging overdraft fees twice, and improperly withholding credit card rewards. The fines are part of the Consumer Financial Protection Bureau’s (CFPB) war against junk fees—e.g., overdraft charges—that added hundreds of millions of dollars to Bank of America’s top line between 2018 and 2022. Last year, Wells Fargo reached a $3.7 billion settlement with the CFBP over junk fees. PGA Tour officials said a merger with LIV was the only option. In a Senate hearing yesterday, PGA Tour board member Jimmy Dunne told lawmakers that his league had [no choice]( but to link up with Saudi-backed LIV Golf because the Saudis “have an unlimited horizon and an unlimited amount of money” that the PGA Tour couldn’t compete with. Sympathetic Republican Sen. Ron Johnson pointed out that LIV has 500x the financial resources as the PGA Tour, but Democratic Sen. Richard Blumenthal criticized the PGA Tour for compromising its values for money. The DOJ is investigating the PGA–LIV deal over antitrust concerns, Blumenthal said. CLIMATE [Massive storm leaves Vermont partially underwater]( [Montpelier]( The Weather Channel Parts of Vermont were underwater yesterday after a historic storm [hammered]( the southern portion of the state and parts of New York with two months’ worth of rainfall in two days. Water was chest-deep in some areas of the capital city, Montpelier, as the Winooski River spilled over its banks and submerged [entire blocks]( which led to downtown being closed until yesterday afternoon. Local officials feared that an upstream dam within a few feet of overflowing could dump even more floodwater onto city streets. Even with a dam disaster seemingly averted in Vermont… - The storm is projected to cost the Northeast region up to $5 billion as water inundated homes and businesses, swept over roads, and disrupted rail travel. - At least 117 people had to be rescued across Vermont, and one woman died in New York. Zoom out: Vermont’s catastrophe shows that [increasingly frequent floods]( fueled by climate change aren’t just a threat to Palm Beach waterfront residents. And while the US has been doling out cash for projects that bolster infrastructure against extreme weather events, government data [underestimates]( rain flooding risks in many communities, according to the New York Times.—SK   TOGETHER WITH FACET [Facet]( Don’t let your funds fly away. Nobody wants to waste their hard-earned money on services that go nowhere fast. What if we told ya that a [Facet financial planning membership]( could literally [*pay for itself]( Would you say: [Absolutely! Sounds like a no-brainer service.]( intrigued…but I need more info.]( too good to be true.]( I flush funds for fun.]( ENTERTAINMENT [Cruise battles Nolan for IMAX real estate]( [Tom Cruise headshot facing off against Christopher Nolan headshot above a vintage countdown movie screen.]( Illustration: Francis Scialabba, Photos: Getty Images We’ve spent so much time making Barbenheimer jokes that we’ve missed the real theatrical main character this summer: IMAX screens. Mission: Impossible – Dead Reckoning Part One hits theaters today, and usually a Tom Cruise action film would dominate the sprawling screens. But Christopher Nolan’s atomic bomb movie, Oppenheimer, will be [evicting]( Mission: Impossible from IMAX earlier than Cruise would like. Mission: Impossible will have just nine days on IMAX screens before the Nolan flick that is supposed to devastate all of us opens on July 21. Oppenheimer will then occupy every IMAX theater in North America for three whole weeks, a week longer than similar big-screen deals. Cruise is mad about getting evicted. Puck News [reports]( that he’s been complaining to Paramount execs about Mission: Impossible getting screen-snubbed and reminding everyone that his film Top Gun: Maverick grossed $110 million in IMAX alone last summer. But it’s not about the money. If it were, Mission: Impossible would win. The movie is expected to easily double Oppenheimer’s first weekend of box-office sales. Instead, it’s about rewarding a diehard fan. The CEO of IMAX told Variety, “Nolan has a special place in IMAX’s heart because he uses our cameras and promotes us.”—MM   GRAB BAG [Key performance indicators](#) [Sriracha bottles]David McNew/Getty Images Stat: Some of y’all can’t eat a breakfast burrito without Sriracha and it shows. As a shortage of Huy Fong’s famous sauce enters its second year, resellers on sites like Amazon and eBay are hawking Sriracha for [up to 10x]( the original price, USA Today reports. And people are buying it—one 12-pack went for $415, or $34.58 per bottle, while another seller thinks they can nab $80 for a single container. The shortage, which stems from a bad crop of the chili peppers used to make the sauce, shows no signs of easing, and that’s devastating news because the knockoff Trader Joe’s version just isn’t cutting it. Quote: “Of course, it’s unfortunate. This is perfectly good milk.” There may not be enough Sriracha, but there’s too much milk. John Umhoefer, executive director of the Wisconsin Cheese Makers Association, lamented how dairy farms across the Upper Midwest are [spilling milk into the sewers]( because they have nowhere to send the perishable liquid. US milk production is at a record high, but demand [isn’t keeping up]( Kids are drinking less milk since they’re out of school, and plants processing milk into cheese are at capacity. Read: Why Twitter collapsed. ([Remains of the Day]( NEWS [What else is brewing](#) - [Here we go again]( Ticketmaster paused online ticket sales for several Taylor Swift Eras Tour concerts in France. The French branch of Ticketmaster blamed a “third-party provider” for causing the issue. - [Tesla]( reportedly launched an internal probe into company plans to build a lavish glass house for CEO Elon Musk outside Austin, TX. - [Update from yesterday]( A jury found that Aretha Franklin’s 2014 will discovered in her couch was valid in Michigan, a win for her sons Kecalf Franklin and Edward Franklin. - [American pro surfer Mikala Jones]( died in an accident off the coast of the Mentawai Islands in Indonesia. - [Elizabeth Holmes]( is keeping her nose out of trouble in prison and is eligible to be released almost two years early, officials said. RECS [Wednesday to-do list]  New movie trailers: Timothée Chalamet stars in [Wonka]( and Joaquin Phoenix hits the battlefield as shorty in Ridley Scott’s [Napoleon](.  Lose your Lego instructions? No problem: Here’s how to build [thousands of Lego sets](.  Upgrade your home desk: Use [these setups]( from YouTubers, photographers, designers, and engineers for inspiration.  Extreme weather tips: It’s not a myth—[don’t shower during a thunderstorm](. Plus, how best to [set your air conditioning]( when it’s hot out. The new $tandard: Titan’s [Smart Cash]( leverages yield-scanning tech to find their best rates for your cash automatically, accounting for taxes and maintaining full liquidity. [Earn up to 5.11%]( *This is sponsored advertising content. GAMES [The puzzle section](#) Word Search: Get lost in a park without leaving your desk in today’s Word Search. [Play it here](. Tom Cruise trivia With the latest Mission: Impossible film being released today, let’s see how well you know your Tom Cruise movies. We’ll give you a character Cruise played and the year the movie was released, and you have to name the film. - John Anderton (2002) - Ethan Hunt (1995) - Lieutenant Daniel Kaffee (1992) - Lieutenant Pete Mitchell (1986) - Joel Goodson (1983) - Les Grossman (2008) AROUND THE BREW [Fast and fun tech news]( [An Apple iPhone and wireless keyboard and three pens on a table with dark lightingle]( Nurphoto/Getty Images Want to learn how the upcoming innovations in technology will affect your work and personal life? [Subscribe to Tech Brew](. Tomorrow, we go behind the scenes of Healthcare Brew’s Q2 State of the Industry Report in a free virtual event. [Secure your spot today](. ANSWER 1. Minority Report 2. The OG Mission: Impossible 3. A Few Good Men 4. The OG Top Gun 5. Risky Business 6. Tropic Thunder ✳︎ A Note From Facet Based on a study conducted by Facet in April 2023. A statistically valid sample of members following Facet’s current planning process demonstrated that more than half of these members, defined here as a majority, achieved value greater than their planning fee. This value was shown to reoccur on an annual basis. Assumptions included average expenses and fees, using retirement tax savings, portfolio expenses and tax loss harvesting as value drivers using Facet’s investment services, and discounting value to align with the acceptance of Facet recommendations. Facet assesses clients an annual flat fee for service based on the complexity of planning needs. There is no separate or additional fee for investment management. This is not a guarantee or prediction of actual results for any member and results may vary by member. Some value like tax loss harvesting may vary year to year. Facet Wealth, Inc. (“Facet”) is an SEC Registered Investment Advisor headquartered in Baltimore, Maryland. This is not an offer to sell securities or the solicitation of an offer to purchase securities. This is not investment, financial, legal, or tax advice. Limited time offer ends August 1, 2023. ✤ A Note From Titan Yield is as of 7/7/23. This represents the highest 7-Day Yield currently available among our options. Certain funds have specific investment minimums, which can be up to $10,000. Investors who invest amounts below these minimums may experience lower yields than those advertised. Yields are subject to change and will fluctuate over time. View full disclosures at titan.com/smart-cash. Written by [Neal Freyman]( [Cassandra Cassidy]( [Matty Merritt]( and Sam Klebanov Was this email forwarded to you? Sign up [here](. Business education without the BS - Programs in [Business Essentials]( [Analytics]( and [Leadership]( Interested in podcasts? - Check out ours [here]( [ADVERTISE]( // [CAREERS]( // [SHOP]( // [FAQ]( Update your email preferences or unsubscribe [here](. 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