✈️ Meet the "Sky Office"

...and Foxconn's Wisconsin fumble [Disclosures](   "I'll take the Sky Office, please" [Jayme Thornton via GettyImages]   Yesterday’s Market Moves   S&P 500 4,291.80 (+0.028%) Dow Jones 34,292.29 (+0.026%) Nasdaq 14,528.34 (+0.19%) Bitcoin $35,703.65 (+4.16%) S&P 500 4,291.80 (+0.028%) Dow Jones 34,292.29 (+0.026%) Nasdaq 14,528.34 (+0.19%) Bitcoin $35,703.65 (+4.16%) Hey Snackers, You know what we want? What we really, really want? To point out that it’s been 25 years since the Spice Girls dropped "Wannabe" and went on to become the best-selling girl group of AT – and biggest British pop success since the Beatles. Fun fact: the S&P 500 is enjoying record highs too, up more than six times higher than the day "Wannabe" dropped. Takeoff United just placed its biggest airplane order — we call them “Sky Offices” They should pay in points… [United]( is buying 270 new Boeing and Airbus planes in the [largest]( aircraft deal in a decade. We’re talking [$30B]( worth of flying metal that’ll result in: 100 new flights/day, 30% more seats, and a hefty 25K new jobs. When you say “Work From Anywhere”... does that include 35K feet? United’s new birds aren’t the ultra skinny ones — and that’s on purpose. To get business flyers back, United seems to be creating flying offices with hopes that you’ll “Work From Airplane”: - More: More legroom, in-seat screens, and overhead suitcase space. - Faster: WiFi speeds kicked up a few notches so… you’re… not… buffering. - Premium-ier: Overall seating capacity will rise 30%, but [premium seating]( will jump 75%, meaning more room to physically network. THE TAKEAWAY United could be opting for the Field of Dreams strategy... If you build it, they may come. Bill Gates predicted that [half]( of business travel is never coming back. But United’s CEO disagrees: “Every day tells us that business and international travel will ultimately come back 100%.” Bold. But that may be why United splurged a record amount on this deal: As marketing to convince you that working from an airplane is comfy. United isn’t just predicting demand — it’s trying to create demand. WI Foxconn was supposed to create the “8th Wonder of the World” in Wisconsin – it didn’t Check the back of your Apple device… “Designed in California, assembled in China” — not on the label: Assembled at Foxconn’s Chinese manufacturing facility. [Taiwan-based]( Foxconn has done to electronic manufacturing what Henry Ford did to carmaking. And it was supposed to expand that expertise to a brand new factory in the US. Time for an update: “8th Wonder of the World”... That’s what then-President Trump called the Foxconn plan for Wisconsin: Hire up to 13K local workers to make [screens]( for cars, TVs, and other electronics. In exchange, Foxconn would get up to [$4B]( in benefits from the state, county, and the small town of Mount Pleasant, WI. So here’s the update: - 1.5K: That’s the new job goal, after the deal got negotiated — [90%]( smaller than planned. - $1B: That’s how much Wisconsin has [spent]( to prep the site — not cheap. THE TAKEAWAY Transactional incentives can be a powerful weapon… that can backfire. Wisconsin hoped to be the epicenter of advanced American manufacturing. Instead, the town is saddled with debt, and local workers face broken job promises. The lesson Wisconsin officials took: One-off deals with corporations for job creation may not be optimal. Instead, [CNBC]( highlights that Wisconsin is pivoting to focus on workforce development, infrastructure, and biz-friendly policies – not deals. What else we're Snackin' [Biz]( The Biden administration is reportedly working on an executive order to direct agencies to have stronger oversight over big business. [Vax]( [Sanofi]( one of the world’s biggest vaccine makers, plans to invest about $500 million per year to catch up in making mRNA vax technology. [Pop]( Chinese ride-hailing company Didi reportedly priced its IPO at $14 per share, giving it a market cap of at least $67 billion. [Biodome]( US home prices rose in April at their fastest pace in 15 years, according to an S&P index tracking 20 metro areas. [Yikes]( The data of more than 92% of LinkedIn users, or 700 million people, has been compromised in a new breach that scraped the [Microsoft]( networking site. 🍪 Thanks for Snacking with us! Want to share the Snacks? Invite your friends to sign up [here](. The Snacks Daily Podcast Juul took the “move fast and break things” strategy and applied it to vaping. As of last year, 20% of high schoolers had used ecigarettes. Now Juul’s facing a $40M fine — and that’s just the start. More on our 15-minute pod, Snacks Daily. Snack Fact Of the Day [One of the official names of the hashtag, aka the number sign, is octothorpe]( Wednesday - Earnings expected from General Mills, Svedka-owner Constellation Brands, Bed, Bath & Beyond, and Micron Authors of this Snacks own shares of: Apple ID: 1704443 Robinhood Snacks newsletters and podcasts reflect the opinions of only the authors who are associated persons of Robinhood Financial LLC and do not reflect the views of Robinhood Markets, Inc. or any of its subsidiaries or affiliates. They are meant for informational purposes only, are not intended to serve as a recommendation to buy or sell any security in a self-directed Robinhood account or any other account, and are not an offer or sale of a security. They are also not research reports and are not intended to serve as the basis for any investment decision. 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