☕ Disruptions

Why Gen Z is falling for online scams... [Advertisement] September 28, 2023 [View Online]( | [Sign Up]( | [Shop]( [Morning Brew]( PRESENTED BY [AutoCamp]( Good morning. A blockbuster trade in the NBA yesterday has Portland Trail Blazers superstar Damian Lillard headed to the Milwaukee Bucks. Lillard wanted to be traded to Miami, but he’ll have to settle for Lambeau rather than Lambos. Plus, you can’t beat a Sobelman’s burger… —Matty Merritt, Molly Liebergall, Cassandra Cassidy, Abby Rubenstein, Neal Freyman MARKETS Nasdaq 13,092.85 +0.22% S&P 4,274.51 +0.02% Dow 33,550.27 -0.20% 10-Year 4.616% +7.6 bps Bitcoin $26,257.27 +0.14% Peloton $4.65 AH +15.91% *Stock data as of market close, cryptocurrency data as of 4:00am ET. [Here's what these numbers mean.]( - Markets: The Dow had a roller coaster of a day, climbing up only to shoot [back down]( as rising oil prices and treasury yields made investors question whether stocks are the best place to park cash. Peloton went hard after hours on the news that it scored a deal to provide yoga pants purveyor Lululemon with digital fitness content.  Markets Sponsored by Fidelity Bonds, fixed annuities, CDs—income investing is back, and for good reason. Wanna know why? We’ll give you the scoop on [episode 4 of Fresh Invest]( our podcast sponsored by Fidelity. You can watch it all on Fidelity’s YouTube playlist or [wherever you listen to podcasts](. GOVERNMENT [What to expect if the government shuts down]( [Congress with lights flickeringinside.]( Francis Scialabba There’s still time for a last-minute deal. But unless Republican House Speaker Kevin McCarthy can break his [stalemate]( with right-wing members of his party to pass a new spending bill, the federal government will have to pack it up on October 1. Even if you’re not a park ranger or someone who relies on food assistance programs like WIC (which only has a few days of contingency funds available) the government furloughing workers and not giving out new cash will have far-reaching consequences that could impact you. Here are some of the disruptions to expect, if you’re a… Traveler: Because they are considered essential workers, TSA staffers will keep yelling at you to take your shoes off, and the people directing planes in towers won’t be sent home. But all hiring and training would pause, hampering the travel industry’s pandemic recovery. Oh, and national parks would probably stay open—but without bathrooms. Investor: Sorry if you wanted to plan a big IPO next week. The stock market itself wouldn’t have to close, but SEC Chair Gary Gensler [said]( yesterday that a shutdown would reduce his department’s staff to about 7%, which could mean companies that haven’t already filed to go public would have to wait. Government contractor: Most federal employees usually receive back pay when the government starts up again, but millions of federal contractors likely won’t recoup the estimated $1.9 billion they stand to lose every day the government is closed, according to the president of the trade association that represents government contract workers. Big companies like Elon Musk’s SpaceX and pharma giants like Pfizer would probably bounce back quickly, though. The good (?) news…is that the IRS will probably be just fine, thanks to a [funding boost]( from the Inflation Reduction Act, and the postal service will still deliver your bills. Big picture: Experts warn that the longer a shutdown lasts, the more losses spread. During the last shutdown, which went five weeks, the US economy lost $3 billion, according to the Congressional Budget Office.—MM   PRESENTED BY AUTOCAMP [Your glamping getaway awaits]( [AutoCamp]( Enjoy the wonders of the great outdoors…with all the comforts of a hotel stay. Luxury [Airstream suites from AutoCamp]( offer a boutique hotel experience in some of the most iconic outdoor destinations in the country. Each custom-designed Airstream comes equipped with heating and A/C, as well as luxury linens and bath products. Enjoy some privacy with your own firepit, outdoor seating area, and grill. Or head to the beautiful clubhouse for happy hour, games, food, and extra space to lounge. East Coast folks can enjoy a stay in the Catskills and Cape Cod. If you’re [heading west]( AutoCamp has locations in Yosemite, Zion, Russian River, and Joshua. Try out a new type of adventure and [get 20% off with code MB20](. WORLD [Tour de headlines](#) [Republican presidential debate]Pedro Ugarte/AFP via Getty Images GOP presidential hopefuls attack Biden, Trump, and each other. Republican presidential candidates squared off in their [second debate]( last night, but front-runner Donald Trump opted not to come for the second time (instead, the former prez spoke at a Michigan auto parts plant). That left seven other candidates to interrupt each other and take swipes not only at the current president but also at Trump—whom Florida Gov. Ron DeSantis called “missing in action” and Chris Christie derided as “Donald Duck”—on issues like the economy and immigration as they tried to stand out from the pack. Several also pounced on Vivek Ramaswamy, who got a bump in popularity after the last debate. Soldier who fled to North Korea is back in US custody. US officials [said]( yesterday that they had “secured the return” of Private Travis King, who made an unauthorized dash over the border to North Korea from a civilian tour in July. At the time, he was supposed to be headed back to the US after serving time in a South Korean prison for assault. The US said it did not make concessions to North Korea to get King home, per the Associated Press, but the country abruptly announced it would expel him. King’s homecoming may not be happy as he was declared AWOL by the Army. Zuck is still trying to make the metaverse happen. Meta announced that it’ll start [shipping]( the Quest 3 VR headset on Oct. 10. The company hopes the $499 device is cool enough to lure you into the meta realm and make you forget about Apple’s forthcoming goggle competitor. At an event yesterday, Zuck also hyped the new ChatGPT-like AI features Meta is bringing to its social media and messaging platforms. These include digital sticker creation, image editing, and celebrity chatbots, ranging from Jane Austen to Snoop Dogg. CYBERSECURITY [Help, I’m stranded! Can you wire me $10,000?]( [An internet user hands money to a scammer.]( Illustration: Francis Scialabba, Photo: Sasin Paraksa/Getty Images This classic online con is notorious for swindling seniors out of their retirement money, but it turns out Gen Z is more likely than boomers to fall for internet scams, according to a new report from Deloitte. In a survey of more than 2,000 Americans, Deloitte [found]( that despite being the generation born and bred in the bowels of the World Wide Web, Gen Z is… - Three times as likely as boomers to fall for an online scam (16% vs. 5%). - Twice as likely as boomers to get hacked on social media (17% vs. 8%). The reason is simple: Younger people spend an exceptional amount of time communicating and shopping online, a Deloitte principal [told Vox]( which gives them more opportunities to fall victim to a suspicious Instagram account promising massive crypto returns, for example, or a fraudulent e-commerce site posing as a sneaker retailer. And even when they try to live in the moment, today’s youths can’t help but be chronically online—half of 11- to 17-year-olds in the US get anywhere from 237 to 5,000 cell phone [notifications per day]( almost all of which are social media alerts, Common Sense Media’s research shows. Scam losses on the rise: Last year, e-con artists made about $210 million off of young people under 20, way up from an estimated $8.2 million in 2017, according to Social Catfish.—ML   TOGETHER WITH LIQUIDPISTON [LiquidPiston]( Fast + family: The MIT grad and physics dad behind LiquidPiston are pioneering the first major innovation to combustion engines in 100+ years. Their X-Engine™ delivers up to [10x more power]( than comparably sized piston engines, unlocking new potential for drones and hydrogen-powered cars. Now you can join 15k+ others and invest for a limited time. [Get the details and invest before the current funding round closes on Oct. 24](. TOURISM [Peep your fall foliage somewhere else]( [Photo of Sleepy Hollow Farm]( Education Images/Getty Images Sleepy Hollow Farm in Pomfret, Vermont, hasn’t been very sleepy lately. The picturesque private residence has become so infested with leaf-peeping tourists and influencers that the town of about 900 where it sits has been forced to [kick them all out](. What happened? Residents say that in recent years, visitors in pursuit of the perfect fall foliage photo have damaged roads, trampled gardens, and even defecated on private property, spurring locals to decide close two roads to nonresidents this year through Oct. 15. The Instagram-fueled desecration has gotten so bad that it’s “changed the neighborhood landscape to the point that it is untenable,” according to a [GoFundMe page]( set up by the community to fund the closures. It’s not always as easy as closing a road. In Venice, the main islands now have more tourist beds than residents, and many fear the fabric of the city is on the [brink of collapse]( because so few locals remain. Other historic cultural sites around Europe—including the Acropolis in Athens and the Louvre in Paris—have implemented daily limits due to congestion. Add poor little Pomfret to the list of destinations bedeviled by TikTok clout-chasers.—CC   GRAB BAG [Key performance indicators](#) [Taylor Swift at the Chiefs game]Jason Hanna/Getty Images Stat: Taylor Swift may not be cheer captain, but she can sure boost a football team even from the bleachers, er, luxury box. The Kansas City Chiefs game the singer attended Sunday in a show of support for her rumored boo, Travis Kelce, drew 24.3 million viewers, making it the [most watched game]( of the week—thanks in part to a 63% spike in female viewers age 18–49 from the Chiefs’ previous game, according to Front Office Sports. Kelce is getting his own Swift assist: Sales of his jersey [shot up]( almost 400% after the game. Swift is also expected to come to this Sunday night’s game and deliver a ratings bonanza for NBC. Quote: “People in their 60s and 70s, we don’t care about being influencers. We want to find a partner.” Bachelor Nation will get a little bit grayer tonight with the premiere of The Golden Bachelor, where everyone is [over 60](. The show’s star, Gerry Turner, a 72-year-old, pickleball-loving grandpa who joined Instagram only this year, thinks the participants’ advanced ages mean no one can be accused of being there for the wrong reasons. We just hope it doesn’t mean the 22 women trying to clinch the final rose are too mature to have jobs like “aspiring dolphin trainer” or “chicken enthusiast.” Read: Why Silicon Valley’s biggest AI developers are hiring poets. ([Rest of World]( NEWS [What else is brewing](#) - [Delta’s CEO]( said changes to its frequent flier program “went too far” and the company will modify it again soon. - [Kia and Hyundai]( recalled 3.4 million vehicles in the US due to fire risk and urged owners to park their cars outdoor. - [Sen. Bob Menendez]( of New Jersey pleaded not guilty to taking bribes, including cash and gold bars, but many of his fellow Democrats are calling for him to step down. Elsewhere, Senate decorum was restored by...[reinstating]( the formal dress code. - [Hospitality workers in Las Vegas]( have authorized their union to call a strike against casinos and hotels if they can’t reach a deal. - [The US]( will allow Israeli travelers to visit without a visa. Israel’s admission to the Visa Waiver Program is a victory for Prime Minister Benjamin Netanyahu, who is facing domestic backlash over his efforts to overhaul the judiciary. - [Bruce Springsteen]( is postponing all of his scheduled tour dates this year until 2024 as he takes time to recover from peptic ulcer disease. RECS [To do list Thursday] Watch: A history of words you wouldn’t think come from [people’s names](. Travel tip: Airbnb is offering a free stay at [Shrek’s swamp]( only if you can beat out other ogre enthusiasts to book it and get yourself to Scotland. Tech tip: How to [change the color]( of your Notes App links. Learn: Why cars don’t have [hood ornaments]( anymore. Watch out, coffee: You’ve got some competition. [GORGIE]( is a clean energy drink full of flavor, fizz, and real benefits like B Vitamins. Get [30% off with code MORNINGBREW]( *A message from our sponsor. GAMES [The puzzle section](#) Brew Mini: Sending you hugs and kisses on your crossword puzzle journey. Play the Mini [here](. Three headlines and a lie Three of these headlines are real and one is faker than an RSVP to your friend’s three-hour solo show. Can you spot the odd one out? - Ride passengers [rescued]( after dangling upside down, 75 feet up, for half an hour - This startup won’t pick up your [trash]( that’s the point - Archaeologists [discover]( 2,000-year-old child’s shoe with laces intact - Uneven gravity makes you [weigh]( more in Illinois than in Indiana 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 We made up the one about the startup. Word of the Day Today’s Word of the Day is: bedeviled, meaning “caused problems for or annoyed.” Thanks to Justinn from Kampala, Uganda, for the suggestion. Submit another [Word of the Day here](. ✷ A Note From Fidelity Investing in bonds involves risk, including interest rate risk, inflation risk, credit and default risk, call risk, and liquidity risk. Fidelity and Morning Brew are independent entities and are not legally affiliated. Fidelity Brokerage Services LLC, Member NYSE, SIPC, 900 Salem Street, Smithfield, RI 02917 ✳︎ A Note From LiquidPiston This is a paid advertisement for LiquidPiston’s Regulation A+ Offering. Please read the offering circular at invest.liquidpiston.com. Written by [Neal Freyman]( [Abigail Rubenstein]( [Matty Merritt]( [Molly Liebergall]( and [Cassandra Cassidy]( Was this email forwarded to you? Sign up [here](. 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