Why GeoGuessr is the next frontier for esports...
October 20, 2023 [View Online]( | [Sign Up]( | [Shop]( [Morning Brew]( TOGETHER WITH [Apple TV+]( Good morning. Ready to put your feet up this weekend? So are the participants in the Sri Chinmoy 3,100 Mile Self-Transcendence Race in Queens, NYâthe longest certified road race in the world. Since August 30, these super-athletes have been running an average of 59.6 miles per day (more than two marathons) from 6am to midnight to log 3,100 miles over 52 days. If that doesnât sound sufficiently bananas, the route is just one city block in Queens that the runners must circle thousands of times, so itâs considered more of a mental test than a physical one. The race ends tonight at midnight if you are in the area and have a spare ice pack. âNeal Freyman, Matty Merritt, Molly Liebergall, Dave Lozo, Adam Epstein MARKETS Nasdaq 13,186.18 -0.96% S&P 4,278.00 -0.85% Dow 33,414.17 -0.75% 10-Year 4.990% +8.8 bps Bitcoin $28,726.88 +1.48% Tesla $220.11 -9.30% *Stock data as of market close, cryptocurrency data as of 11:00pm ET. [Here's what these numbers mean.]( - Markets: Stocks [took a dive]( yesterday as investors searched Jerome Powellâs latest public comments for clues about if and when the Fed will adjust rates. After Powell spoke, the 10-year Treasury yield approached the psychologically significant benchmark of 5%, which hasnât been reached since 2007.
- Stock spotlight: Tesla plummeted more than 9% after the company missed on earnings and CEO Elon Musk told analysts to â[temper expectations]( for its much-awaited Cybertruck. Â ECONOMY [Uh-oh: The economy is doing really well](
[Federal Reserve chair Jerome Powell]( China News Service/Getty Images In a closely watched speech at the Economic Club of New York, Fed Chair Jerome Powell conveyed a similar message to the climate protesters who briefly [interrupted]( him: Itâs too hot. Powell was speaking about the US economy, which has barely let out a yawn despite the heavy doses of melatonin the Fed has thrown its way via interest rate hikes. In his [remarks]( Powell declared that âinflation is still too highâ and left the door open for another interest rate increase in Decemberâthough he essentially ruled one for November. In the last 20 months, the Fed has jacked up interest rates to a 22-year high to tame soaring inflation. And inflation has come down to about half of its June 2022 peak. But the economy is still ripping The Fedâs rate-hiking jamboree was expected to slow hiring, spending, and broader economic growth as unfortunate side effects of popping the inflation balloon. However, a series of recent reports shows that the US economy is still roaring in the â20s: - Jobs: Employers smashed expectations by adding 336,000 jobs in September, and the unemployment rate remains at a low level of 3.8%.
- Spending: Retail sales also [blew past estimates]( in September, a sign that American consumers remain the undisputed shopping world champs. This probably helped: Americansâ household wealth [surged 37%]( from 2019 to 2022, according to Fed data released on Wednesday. Thatâs more than double the second-highest increase on record.
- Economy: After the strong retail sales numbers came out this week, Morgan Stanley raised its Q3 economic growth outlook to 4.9% from 4.5%. Context: One year ago this week, Bloomberg economists predicted a [100% chance of a recession]( a year. Big picture: Powell emphasized that none of his plans have been written in Sharpie âgiven the uncertainties and risksâ of the current situation. One of those question marks: the potential escalation of the Israel-Hamas war. Powell warned that âhighly elevatedâ geopolitical tensions âpose important risksâ for the global economy.âNF Â Â TOGETHER WITH APPLE TV+ [Serving up your new fave show](
[Apple TV+]( Craving a new fave show? Apple TV+âs adaptation of acclaimed global book phenomenon [Lessons in Chemistry]( is fresh out of the oven, streaming now. Dig into Elizabeth Zottâs story about the recipe to successâand how it can unexpectedly change. Aspiring scientist Elizabeth finds herself fired from her job in a lab in the 1950s. Scientific dreams momentarily dashed, she accepts a new challenge: [hosting a TV cooking show](. With a brand-new audience at her fingertips, she starts teaching a nation of overlooked housewives ( + the men who are suddenly listening) a lot more than recipes. Grab your favorite TV-time snacks and catch stars Brie Larson and Lewis Pullman in Lessons in Chemistry, [now streaming on Apple TV+](. WORLD [Tour de headlines](#)
[Aid trucks wait at the Rafah Crossing on the border of Gaza and Egypt]Mahmoud Khaled/Getty Images âï¸ GazaâEgypt border set to open for aid today. Trucks full of medicine, food, and other humanitarian supplies will reportedly be [allowed into Gaza]( at the Rafah border crossing today after President Biden secured a deal with Israeli Prime Minister Benjamin Netanyahu during his visit to the country earlier this week. But actually getting the aid to the people who need it faces a [number of challenges]( including the possibility that Hamas militants steal it. Humanitarian officials also say Israel has not yet guaranteed that aid workers will be safe from airstrikes. Biden gave a prime-time address from the Oval Office last night to make the case that Israel and Ukraine need aid ahead of asking Congress to approve $100 billion to help fund the countriesâ war efforts, as well as Taiwan and the US border with Mexico. Meanwhile, a US warship in the Red Sea [shot down]( missiles launched by Iran-backed Houthi militants in Yemen, who may have been aiming at Israel. New York AG sued Winklevii crypto firm for fraud. New York Attorney General Letitia James [filed]( a lawsuit against cryptocurrency companies Gemini Trust, Genesis Global, and Digital Currency Group (DCG), alleging that they defrauded 230,000 investors of more than $1 billion. The lawsuit contends that Geminiâfounded by Tyler and Cameron Winklevossâlied to investors about the dangers of a program that promised them a high rate of return. Jamesâs office also [claims]( that Gemini knew of the risks from the time the program launched in Feb. 2021 until it was dissolved in Nov. 2022 after the collapse of Sam Bankman-Friedâs FTX crypto exchange. Genesis and Gemini released statements denying the allegations. The speaker situation still isnât any clearer. After two failed votes to be elected speaker of the House, Republican Rep. Jim Jordan of Ohio was expected to call for a third vote today, but he reportedly ditched those plans to support a bipartisan arrangement to [temporarily empower]( Speaker Pro Tempore Patrick McHenry. After that plan fell apart during a closed-door meeting of GOP representatives, Jordan pulled out his Uno reverse card, saying he was back to [pursuing another vote]( to become speaker himself. Problem is, several of his Republican colleagues still refuse to support his bid. Itâs unclear when this will be resolved so the House can function. TECH [FCC to net neutrality regulation](
[Scene from âBrokeback Mountainâ Jack Twist saying âI wish I knew how to quit you.â]( Brokeback Mountain/Focus Features via Giphy Net neutrality discourse is back! Yesterday, the Democratic-led Federal Communications Commission (FCC) [voted to begin the process]( of restoring federal net neutrality rules that were repealed during the Trump administration. The background: In 2015, during the Obama administration, the FCC began regulating broadband internet access like other utilities, promising to prevent providers from price gouging or slowing down internet service for some customers. But it quickly became a partisan issue as Republicans took the position that the government was overstepping. Telecommunication companies like AT&T (very much against net neutrality) and tech giants like Google (for net neutrality) went head-to-head, pouring lots of money into the fight. In 2018, after Trump took office, the Republican-led FCC did away with the regulations. New takes on an old debate: FCC Chairwoman Jessica Rosenworcel said sheâs revisiting the issue because pandemic lockdowns showed just how vital internet access is, and that the smattering of state laws passed since it became apparent that federal broadband protections were going away arenât enough. Predictably, both GOP commissioners are against it. Commissioner Brendan Carr said consumers and their internet connections have been doing just fine for the last few years and that renewed restrictions would burden the telecom industry. Looking aheadâ¦public comment on the potential revival is now open. The FCC will vote next year at the earliest on whether or not to adopt net neutrality again. If passed, the regulator would have the power to track outages and step in if it believes providers charge too much for broadband.âMM   TOGETHER WITH WORKDAY
[Workday]( Letâs talk talent. More applications for fewer open roles, reduced turnoverâ¦itâs a whole new world for the talent market. Learn what it takes to attract (+ retain) the best talent in [Workday]( The First Half of 2023 report. Dig into first-party data insights, market trends, and more [in the full report](. GAMING [Gamers are trying to become the next GeoGuessr king](
[Trevor Rainbolt plays GeoGuessr]( Rainbolt via YouTube In a matter of seconds, that guy in the top left corner can identify the location of this freeway by its trees and get the GPS coordinates of your momâs house using a picture of her porch. Youâve probably seen Trevor Rainbolt (pictured above) on your feeds playing the geography game [GeoGuessr]( casually remarking âniceâ or âweâll take thatâ as he rapidly geolocates random Google Maps Street View locations using only buildings, foliage, or even dirt. His viral [videos]( have helped popularize the browser-based game, which now has⦠- Sixty-five million users, [according]( to The Information. Twenty-four of them competed in the first [GeoGuessr World Cup]( tournament last weekend, where Rainbolt was a [commentator](.
- Over $18 million in revenue as of last yearâa big spike from just $500,000 in 2019. About 80% of the money comes from monthly subscriptions to the gameâs ad-free premium versions, according to The Information. Sponsors are taking notice: The global esports audience is projected to surpass 640 million people by 2025, according to Newzoo, and brands are very aware. Rainbolt recently got some wings in a Red Bull stunt where he played GeoGuessr while [skydiving]( Â Â GRAB BAG [Key performance indicators](#)
[A rack of Canada Goose parkas]Richard Lautens/Getty Images Stat: Global warming is forcing the migratory patterns of geese northward, and winter clothing brand Canada Gooseâs stock price extremely southward. Shares of the expensive retailer [plunged 9.8% to an all-time low]( yesterday following multiple analyst downgrades. While a shaky economic outlook for China, which makes up a quarter of Canada Gooseâs sales, was a big reason for the downgrades, analysts also cited warmer-than-usual expected weather for the holiday season as a potential drag on sales. In addition to its parkas, the company does sell lightweight jackets and raincoats if you simply must show off that [iconic red patch]( in non-frigid temps. Quote: âIt was a gorgeous day, I just wasnât in the mood to work.â Imagine that: American employeesâespecially younger onesâare actually [using their sick days](. The number of US workers taking sick days has skyrocketed since the Covid-19 pandemic due to both heightened awareness of viruses and also because, well, they just feel like it. One project manager in Chicago told the Wall Street Journal he used to power through illnesses but, after getting laid off, he takes sick days at his new job without hesitation. Read: How to fly an American president into a country at war. ([New York Times]( QUIZ [Speaker of the quiz](
[New Friday quiz image]( The feeling of getting a 5/5 on the Brewâs Weekly News Quiz has been compared to the [calendar of February 2015](. Itâs that satisfying. [Ace the quiz](. NEWS [What else is brewing](#) - [Peter Thiel]( the billionaire Silicon Valley entrepreneur and Trump donor, is an FBI informant, Insider reported.
- [Taylor Swiftâs bodyguard]( is one of thousands of IDF reservists flying to Israel to join the conflict against Hamas.
- [Nokia]( is cutting up to 14,000 jobs as part of a plan to lower costs after profits sank 69% year over year in the third quarter.
- [Super Mario Bros. Wonder]( hits the Nintendo Switch today in what could be one of the last hurrahs for the hand-held console before Nintendo releases the Switch 2.
- [Starbucks]( and the union representing its workers are suing each other over a pro-Palestine message the union posted on X two days after the Hamas terrorist attacks on Israel. RECS
[Friday to-do list] Watch: Musician Jon Batiste [mesmerizes]( CNNâs Chris Wallace by transforming Beethovenâs âFür Eliseâ into the blues and gospel on piano. Buy: Costco is selling a 157-piece Le Creuset [kitchen set]( for $4,500, which sounds like a lot until you realize youâll never need to buy anything for your kitchen again. Vote: In honor of the 25th anniversary of the [National Toy Hall of Fame]( you can now vote for one of five previously overlooked toys to finally make it to the Hall. Justice for Transformers. Bask: In the greatness of one of the greatest living filmmakers with Martin Scorseseâs Killers of the Flower Moon, which is out in theaters today and proves Martyâs [still got his fastball](. Earn rewards + a $300 bonus: Enjoy exceptional rewards on purchases and a $300 welcome bonus with [this credit card](. Start racking up huge rewardsâ[learn more here]( Startup investing fund-amentals: Explore the entrepreneurial journey from concept to [community-based funding]( with 3 founders and Morning Brewâs Alex Lieberman. [Register to watch]( *A message from our sponsor. GAMES [The puzzle section](#) Jigsaw: Escape to a fall foliage paradise in todayâs jigsaw puzzle. [Play it here](. Friday puzzle Identify the one letter that completes the following series: âUsingâ is E âDesistâ is I âVisitsâ is E âDesignâ is ??? 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. Weâre saying weâll 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=4904f90a]( ANSWER U. U is the final, missing piece that makes it a palindrome. The palindrome: Using is e desist is I visits is e design is u. Give yourself a pat on the back if you got that one. [Source]( Word of the Day Todayâs Word of the Day is: jamboree, meaning âa large festive gathering.â Thanks to Harrison from Santa Barbara, California, for the suggestion. Submit another [Word of the Day here](. Written by [Neal Freyman]( [Adam Epstein]( [Matty Merritt]( [Molly Liebergall]( and Dave Lozo Was this email forwarded to you? Sign up [here](. Interested in podcasts?
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