🌎 SBF goes on trial

Plus: A little techno-feudalism. Was this newsletter forwarded to you? [Sign up here](%2F%2Fqz.com%2Femails%2Fdaily-brief%2F/1/0100018af4f81c89-1b9d32c7-7a56-4031-9d34-f1db69f1ca1d-000000/Nknt6T9e3No9M1MjWnTpIX-SSueowVYXIvNwtTu4vvM=320) [Quartz](%2F%2Fqz.com%2Femails%2Fdaily-brief%2F1850894282%2Fsbf-goes-on-trial%2F/1/0100018af4f81c89-1b9d32c7-7a56-4031-9d34-f1db69f1ca1d-000000/VDmYTi4lOMYZJuEa7Juhpbk2BoHrIjOaLnd0eZigFi0=320) October 3, 2023 [View in browser](%2F%2Fqz.com%2Femails%2Fdaily-brief%2F1850894282%2Fsbf-goes-on-trial%2F/2/0100018af4f81c89-1b9d32c7-7a56-4031-9d34-f1db69f1ca1d-000000/zX_kxb8LBKDBPaTy712Bhesnhc3QDUq7yUl44tgIDrs=320) Sponsored By [Sam Bankman-Fried, flanked by what appear to be two bodyguards in suits, steps out of a car on his way to court.](%2F%2Fqz.com%2Femails%2Fdaily-brief%2F1850894282%2Fsbf-goes-on-trial%2F/3/0100018af4f81c89-1b9d32c7-7a56-4031-9d34-f1db69f1ca1d-000000/OppSWYnEdcjVBoYa-YlL7Yv31rxAeDNAoyXYaoyS1_o=320) Photo: Reuters (Eduardo Munoz) Good morning, Quartz readers! Here’s what you need to know FTX founder Sam Bankman-Fried will go on trial today in New York City. He’ll [have to convince a jury](%2F%2Fqz.com%2Fsam-bankman-fried-must-now-convince-a-jury-that-the-for-1850891241%2F%3Futm_source=email%26utm_medium=Quartz_Daily_Brief_US%26utm_content=1850894282/1/0100018af4f81c89-1b9d32c7-7a56-4031-9d34-f1db69f1ca1d-000000/M8Cwr7VjtGgm9LdmOTD_AaezCvymvn5P0KcpZ8ulx5Y=320) his failed cryptocurrency brokerage didn’t take money from customers and use it illegally. Ford and GM laid off 500 factory workers, citing the impact of the United Auto Workers strike. Contract negotiations between the union and automakers are [still ongoing](%2F%2Fwww.reuters.com%2Fbusiness%2Fautos-transportation%2Fgm-furloughs-another-160-workers-due-uaw-strike-2023-10-02%2F/1/0100018af4f81c89-1b9d32c7-7a56-4031-9d34-f1db69f1ca1d-000000/Kpzl2nO4ls4hyObeXaQ0_uRl7asevMj8zCRgtm2vrc8=320) as the walkout enters its 19th day. Tesla’s sales took a hit from factory downtime and softening demand. Its vehicle deliveries were up 27% in the third quarter compared to last year, but [still missed](%2F%2Fqz.com%2Ftesla-3q-sales-rise-27-but-fall-short-of-expectations-1850891542%2F%3Futm_source=email%26utm_medium=Quartz_Daily_Brief_US%26utm_content=1850894282/1/0100018af4f81c89-1b9d32c7-7a56-4031-9d34-f1db69f1ca1d-000000/1RdK_680H4EYck2WwybRAgpI6128-Vw29ooXcSVmp0M=320) analyst expectations. Rival Rivian’s third quarter deliveries, however, [did beat projections](%2F%2Ftechcrunch.com%2F2023%2F10%2F02%2Frivian-q3-deliveries-beat-expectations-jump-23-from-previous-quarter%2F/1/0100018af4f81c89-1b9d32c7-7a56-4031-9d34-f1db69f1ca1d-000000/3p7wRmOPhjwtKdlYuLgi64iSLAzkLMDYDn-WTrQCHro=320). The US announced its first space debris fine. Dish Network will [pay $150,000](%2F%2Fwww.cnbc.com%2F2023%2F10%2F02%2Ffcc-enforces-first-space-debris-penalty-in-dish-network-settlement.html/1/0100018af4f81c89-1b9d32c7-7a56-4031-9d34-f1db69f1ca1d-000000/NpYQaMtyALCceUJhExuqIVM5zalIJTH4-PFv_kl3IRk=320) to the Federal Communications Commission after failing to de-orbit its EchoStar-7 satellite. Sponsor content by CEO COACHING INTERNATIONAL [CEO COACHING INTERNATIONAL]( How Successful CEOs Conduct Annual Planning. Has it ever felt like your annual planning sessions aren’t as effective as you’d like them to be? It doesn’t have to be that way. Our eBook is filled with insights from our world-class former CEOs to walk you through exactly how to succeed at the annual planning process. [advertisement][advertisement][advertisement] [Get the eBook]( Department of jargon: Whoosh %2F%2Fqz.com%2Femails%2Fdaily-brief%2F1850894282%2Fsbf-goes-on-trial%2F/4/0100018af4f81c89-1b9d32c7-7a56-4031-9d34-f1db69f1ca1d-000000/Npww3MiJuVjeMXXE-75qDAjUYzPyRI9pPG4NwrxTOtw=320 Photo: Reuters (Willy Kurniawan) An onomatopoeia that’s an acronym for “Waktu Hemat, Operasi Optimal, Sistem Handal,” which means “time-saving, optimal operation, reliable system” in Indonesian. The aptly named Whoosh is Southeast Asia’s first bullet train that as of this week connects Indonesia’s capital of Jakarta to its second largest hub, Bandung. The route is 88.4 miles (142.3 km), and the train will reach 217 mph (350 kph)—that cuts a formerly three-hour travel time to just 36 minutes. Whoosh wouldn’t have been possible without funding from China, and while it’s the first high-speed rail contract that the country has secured and completed abroad, it’s far from the last. Beijing is laying down tracks (see also: geopolitical influence) [on at least two other continents](%2F%2Fqz.com%2Findonesia-whoosh-high-speed-rail-china-belt-and-road-in-1850882868%2F%3Futm_source=email%26utm_medium=Quartz_Daily_Brief_US%26utm_content=1850894282/1/0100018af4f81c89-1b9d32c7-7a56-4031-9d34-f1db69f1ca1d-000000/XZJDBu4bVxZTaDN8LkP4Jl5cWc7FvRg3iiCuh7uSEuU=320). Knitters are tugging at techno-feudalism’s loose ends In February 2022, two ecommerce bros plucked the domain Knitting.com from obscurity. Their goal was easier to parse than a mitten pattern: flip the undeveloped site into a million-dollar business within a matter of years. Mistake one—seeing knitters as consumers instead of a fandom. Purchasing Knitting.com was akin to claiming land in foreign, ancient domain, and it didn’t help that the duo trumpeted its arrival like a pair of conquerors. To knitters online, it felt like an invasion, and they responded as such, with criticism so harsh that one of the bros compared it to high school bullying or the Salem witch trials. Quartz’s Julia Malleck points out that knitters’ all-out revolt against Knitting.com wasn’t much different from [striking Redditors](%2F%2Fqz.com%2Freddit-moderators-protest-steve-huffman-api-minecraft-1850594437%2F%3Futm_source=email%26utm_medium=Quartz_Daily_Brief_US%26utm_content=1850894282/1/0100018af4f81c89-1b9d32c7-7a56-4031-9d34-f1db69f1ca1d-000000/SfLJMOyIgWZFeN_27KT_G4LpN0bZN4ai-DEWdexVLAM=320) and boycotting [Etsy sellers](%2F%2Fqz.com%2Fetsy-scrambling-avert-seller-strike-over-payment-reserv-1850702861%2F%3Futm_source=email%26utm_medium=Quartz_Daily_Brief_US%26utm_content=1850894282/1/0100018af4f81c89-1b9d32c7-7a56-4031-9d34-f1db69f1ca1d-000000/35ccs2qr4JcN1H34daHYpFFF66vluhdIhSfjJ650R5o=320). They’re all reactions to techno-feudalism, a word mash-up that [makes more sense than you’d think](%2F%2Fqz.com%2Fknitting-ecomcrew-reddit-etsy-boycott-online-community-1850864449%2F%3Futm_source=email%26utm_medium=Quartz_Daily_Brief_US%26utm_content=1850894282/1/0100018af4f81c89-1b9d32c7-7a56-4031-9d34-f1db69f1ca1d-000000/cc4U35Ntgh1lUQ1vDfd_IdSkAxlI-oMyEuw1k2MPDes=320). Carnival’s seas are looking mighty high Knitting needles are allowed on planes, in case you were wondering, but for a lot of people, that doesn’t matter—they’re packing their craft carriers for a cruise instead. 2023 may have been the year [to get sick on a cruise](%2F%2Fqz.com%2F2023-is-the-year-of-getting-sick-on-a-cruise-1850450081%2F%3Futm_source=email%26utm_medium=Quartz_Daily_Brief_US%26utm_content=1850894282/1/0100018af4f81c89-1b9d32c7-7a56-4031-9d34-f1db69f1ca1d-000000/n9d_Oh0Lq1wiCQd_ul-0bMpk7ys26Xg6aOgBZlUXx9w=320), but for ship operator Carnival, business has been at peak health. In its latest quarter, Carnival’s revenue hit a record $6.9 billion as higher ticket prices (inflated by fuel costs) did nothing to deter vacationers from seeking a cheaper alternative to leisure hotels and resorts. %2F%2Fqz.com%2Femails%2Fdaily-brief%2F1850894282%2Fsbf-goes-on-trial%2F/5/0100018af4f81c89-1b9d32c7-7a56-4031-9d34-f1db69f1ca1d-000000/_I8Gx4YYbtWLimNdwCWypUpzNMGsp8EOaMD8SlLOdLw=320 Photo: Reuters (Clarisa Diaz) If you think it’s just seasoned riders back on deck after the pandemic, think again: The number of first-time cruisers increased by 170% this year compared to 2021. Clarisa Diaz explains [why bookings into next year](%2F%2Fqz.com%2Fcarnival-cruise-travelers-are-back-onboard-despite-high-1850892177%2F%3Futm_source=email%26utm_medium=Quartz_Daily_Brief_US%26utm_content=1850894282/1/0100018af4f81c89-1b9d32c7-7a56-4031-9d34-f1db69f1ca1d-000000/y-hsXA2FD7pY0068uWu92_FSzeSxAaNUtJZcszZVRZY=320) are already cresting. Quartz’s most popular 🫰 [These are the world’s most expensive cities in 2023](%2F%2Fqz.com%2Fthese-are-the-worlds-most-expensive-cities-in-2023-1850556595%2F%3Futm_source=email%26utm_medium=Quartz_Daily_Brief_US%26utm_content=1850894282/1/0100018af4f81c89-1b9d32c7-7a56-4031-9d34-f1db69f1ca1d-000000/I6xL-LjchbzSVx1YaWSrYVliJkX-7sAwOGsPyfJ8pGc=320) 🩹 [Rich countries are importing a solution to their nursing shortages—and poor countries are paying the price…](%2F%2Fqz.com%2Frich-countries-are-importing-a-solution-to-their-nursin-1850691166%2F%3Futm_source=email%26utm_medium=Quartz_Daily_Brief_US%26utm_content=1850894282/1/0100018af4f81c89-1b9d32c7-7a56-4031-9d34-f1db69f1ca1d-000000/TziHoILOhnpmOAqXCbjJZ5npePwrhhggysSfyzCDtG0=320) 🩺 […like in Nigeria, where an exodus of nurses is causing a “medical brain drain”](%2F%2Fqz.com%2Fan-exodus-of-nurses-has-caused-a-medical-brain-drain-1850691171%2F%3Futm_source=email%26utm_medium=Quartz_Daily_Brief_US%26utm_content=1850894282/1/0100018af4f81c89-1b9d32c7-7a56-4031-9d34-f1db69f1ca1d-000000/yRMV1gvkn77Z3dnxAYy8nEc0kKEqtGen7Jl3yRiKQzw=320) 🤠[America’s wholesome square dancing tradition is a tool of white supremacy](%2F%2Fqz.com%2F1153516%2Famericas-wholesome-square-dancing-tradition-is-a-tool-of-white-supremacy%2F%3Futm_source=email%26utm_medium=Quartz_Daily_Brief_US%26utm_content=1850894282/1/0100018af4f81c89-1b9d32c7-7a56-4031-9d34-f1db69f1ca1d-000000/dKlbZk6B_jUGs3cJIMIzkHU8miFjsaQG4ujpLaeQIpc=320) ❤️‍🩹 [Every successful relationship is successful for the same exact reasons](%2F%2Fqz.com%2F884448%2Fevery-successful-relationship-is-successful-for-the-same-exact-reasons%2F%3Futm_source=email%26utm_medium=Quartz_Daily_Brief_US%26utm_content=1850894282/1/0100018af4f81c89-1b9d32c7-7a56-4031-9d34-f1db69f1ca1d-000000/ussbHSJ71EYxhuYgNiwWs6PAIT36TsmMQpjS4UAt0IU=320) 🍏 [Apple may be quiet on AI, but it’s also the biggest buyer of AI companies](%2F%2Fqz.com%2Fapple-may-be-quiet-on-ai-but-it-s-also-the-biggest-buy-1850872570%2F%3Futm_source=email%26utm_medium=Quartz_Daily_Brief_US%26utm_content=1850894282/1/0100018af4f81c89-1b9d32c7-7a56-4031-9d34-f1db69f1ca1d-000000/h5CHb1MDuS-KCFCJdmyQrAl8h_ygdtPaSy_0_Ayz8Ds=320) Sponsor content by CEO COACHING INTERNATIONAL [CEO COACHING INTERNATIONAL]( Effective annual planning is a crucial element of driving BIG growth for your company. Don't miss our offer of scheduling a complimentary 1:1 coaching call with a former CEO who can help you facilitate your annual planning session and hold you accountable to your goals in the year to come. [advertisement][advertisement][advertisement] [Connect with a Coach]( Surprising discoveries No US state is growing clean energy jobs faster than Tennessee. Electric vehicle plants [aren’t even the biggest reason why](%2F%2Fwww.wkms.org%2Fenergy%2F2023-10-02%2Ftennessee-has-the-fastest-growing-clean-energy-workforce-in-the-nation-and-no-its-not-all-because-of-evs/1/0100018af4f81c89-1b9d32c7-7a56-4031-9d34-f1db69f1ca1d-000000/XARtUAw9b6RhjBQtpCnJTBUZ5DI8LCTXFUriH6wLUrg=320)—but will there be [enough skilled workers](%2F%2Fqz.com%2Fglobal-demand-for-green-workers-is-about-to-outstrip-th-1850873828%2F%3Futm_source=email%26utm_medium=Quartz_Daily_Brief_US%26utm_content=1850894282/1/0100018af4f81c89-1b9d32c7-7a56-4031-9d34-f1db69f1ca1d-000000/nB_IMLWAN8nbXy8ap7x63bxxsLYtUEDF1OsXGkRbqoU=320) to fill the openings? Mobile Suit Gundam can be yours for $3 million! Well, at least a Japanese company’s [four-wheeled robot](%2F%2Fwww.reuters.com%2Ftechnology%2Fjapan-startup-develops-gundam-like-robot-with-3-mln-price-tag-2023-10-02%2F/1/0100018af4f81c89-1b9d32c7-7a56-4031-9d34-f1db69f1ca1d-000000/KvsEy59T_x8CBTUUnFa4m1FxWoEQtqha_OqGRljiXM8=320) that looks a lot like the anime character can be yours. Paris’s bedbug problem has made it to public transit. Even train operators are [finding the pests in their cabins](%2F%2Fwww.cbsnews.com%2Fnews%2Fparis-bedbugs-france-infestation-hotels-homes-even-trains%2F/1/0100018af4f81c89-1b9d32c7-7a56-4031-9d34-f1db69f1ca1d-000000/l9UIF79jsCF6VIHXErCe794QU_dxCpCQfrvKlcD8cOE=320). There are two Jupiter-sized planets just floating around in space without a star to orbit. This [happens sometimes to single planets](%2F%2Fwww.bbc.com%2Fnews%2Fscience-environment-66974738/1/0100018af4f81c89-1b9d32c7-7a56-4031-9d34-f1db69f1ca1d-000000/WZ_mJ8-Bw9tvm-bEvT5NffdJGJhNYfhmBWlrmYgWjPw=320), but the pairing is stumping astronomers. When the US government avoided a shutdown, it also averted the postponement of Fat Bear Week. It’s exactly what it sounds like, and it’s [Alaska’s most-watched popularity contest](%2F%2Fapnews.com%2Farticle%2Falaska-fat-bear-week-government-shutdown-56bc256b36d5e3351b635bef2af14d95/1/0100018af4f81c89-1b9d32c7-7a56-4031-9d34-f1db69f1ca1d-000000/51a-jKFgf1TrIHCVHD7c89vV02opvQH2W51YOk-QGhE=320). Our best wishes for a productive day. Send any news, comments, a Gustav Holst remix, and bear pics to [talk@qz.com](mailto:talk@qz.com?cc=&subject=Daily%20Brief%20feedback%20&body=). Reader support makes Quartz available to all—[become a member](%2F%2Fqz.com%2Fsubscribe%2F/1/0100018af4f81c89-1b9d32c7-7a56-4031-9d34-f1db69f1ca1d-000000/3hqOpY3QYNj_zeYzcdTXhK6mMxlCWTK6Z9rVm0Trm5Y=320). Today’s Daily Brief was brought to you by Morgan Haefner and Julia Malleck. 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