🚰 Zoomtowns are drying up

Plus: An open letter to Zuck, how to add custom emoji to Slack, why day traders are giving up, and more. [View Online]( [The Hustle] A California cannabis company is being sued for “THC Inflation,” or in other words — not getting customers high enough. In today’s email: - TSMC: What you should know about it. - Chart: Day traders are giving up. - Drying up: Remote workers are straining water resources. - Around the Web: Half-baked inspo, Wikipedia’s “deaditors,” custom emoji, and more cool internet finds. 🎧 On the go? [Listen to today’s 10-minute podcast]( to hear Jacob and Rob break down TSMC’s problematic semiconductor dominance, a trending open letter to Zuck, Beyond Steak, and more. The big idea [chip]( What to know about the Taiwan chip situation Replace eggs with semiconductors, and the phrase “don’t put all your eggs in one basket” describes an enormous issue facing the global economy. At the middle of it is Taiwan Semiconductor Manufacturing Company, a $300B+ company that accounts for [92%]( of global advanced semiconductor production capacity, building chips for much of the world’s tech across iPhones, military equipment, cars — you name it. As the name suggests, TSMC is in Taiwan That presents a dicey geopolitical conundrum: - China is threatening military action to gain control over Taiwan. - Taiwan views its chip supremacy as a “silicon shield” — if China were to attack Taiwan, the US would have to protect it. - The US is now hedging its bets, committing to protect Taiwan while also pushing both TSMC and US chip companies to start manufacturing stateside. What’s being done? In July, Congress passed the CHIPS and Science Act, putting [~$53B]( toward US manufacturing. The US also recently [blocked]( the sale of advanced semiconductors and equipment to Chinese firms, and restricted US companies and citizens from aiding Chinese chip development. As for companies… - Intel is investing $20B+ on two factories in Ohio, Micron said it’ll spend $100B on one in New York, and Samsung is dropping $17B on a factory in Texas. - Even TSMC was swayed by the Trump administration to build a $12B fab in Arizona. These moves are a start, but the estimated total investment required for major global regions to completely reshore production is pegged at [~$1T]( each, plus $45B-$125B a year thereafter. In other words, we’ve got a ways to go. [Share on Facebook]( [Share on Twitter]( [Send as email to a friend](mailto:?subject=The%20Hustle%20wrote%20something%20I%20think%20you%27ll%20like...%0A&body=What+to+know+about+the+Taiwan+chip+situation%0Ahttps%3A%2F%2Fthehustle.co%2F10252022-Taiwan-chips%3Futm_campaign%3DTuesday%2BEmail%26utm_content%3D10252022-Taiwan-chips%26utm_medium%3Demail%26utm_source%3Ddaily%0A%0AYou%20can%20subscribe%20with%20my%20link%20here%20to%20get%20the%20latest%20in%20tech%20and%20business%20daily:%0A [View on our website]( TRENDING [eyeball wearing a hat] Dear Mark: Brad Gerstner, whose Altimeter Capital holds 2m+ shares of Meta, wrote an [open letter]( to Mark Zuckerberg outlining ways to cut costs and refocus the company. SNIPPETS Beyond Meat launched its steak product in [5k+ stores](. Beyond’s stock is down 80%+ this year, and it plans to cut 19% of staff. (Also, its COO was arrested for biting someone’s nose.) Apple raised the monthly prices of Apple Music and Apple TV+, [citing]( higher licensing costs and a growing catalog of video content. Good news, gamers: A new [study]( found kids who play video games have better memory and motor skills control. Startup WeTravel scored [$27m]( in funding to expand its group travel booking platform. Rishi Sunak, the UK’s ex-finance minister, will become its first [prime minister]( of color following Liz Truss’ resignation. Red Bull owner and co-founder [Dietrich Mateschitz]( has died at age 79. He began selling the energy drink in Austria in 1987. A federal appeals court has [blocked]( student loan forgiveness as it considers a motion from six states to halt the program. The Biden admin is still encouraging those with debt to apply. Myth-busting time: For ages, the business world has bought into the notion that introverts can’t lead. We made a [short video]( explaining why that’s BS, and how introversion can be a leadership superpower. CHART [retail trades per day]( Olivia Heller Amateur investors are bowing out Meme stocks, crypto crazes, stimulus checks, and a bull market all contributed to a frenzy of trading activity between 2020 and 2021. With 2.5m new US millionaires [minted]( last year, there was reason for optimism. Fast forward to today, where a looming recession has traders [pumping]( the breaks, per The Wall Street Journal. Daily trading volume… … has fallen sharply across the board as the S&P 500, Dow Jones Industrial Average, and Nasdaq composite are all down big year to date. - For Robinhood, the app most associated with powering meme stock mania, July was the weakest trading month on record. The irony is that investors can get some of their favorite stocks much cheaper today than at any point in 2021, and as the downturn continues, long-term investors will likely be eager to pounce. [Share on Facebook]( [Share on Twitter]( [Send as email to a friend](mailto:?subject=The%20Hustle%20wrote%20something%20I%20think%20you%27ll%20like...%0A&body=Amateur+investors+are+bowing+out%0Ahttps%3A%2F%2Fthehustle.co%2F10252022-Day-Traders%3Futm_campaign%3DTaiwan%2Bchips%26utm_content%3D10252022-Day-Traders%26utm_medium%3Demail%26utm_source%3Ddaily%0A%0AYou%20can%20subscribe%20with%20my%20link%20here%20to%20get%20the%20latest%20in%20tech%20and%20business%20daily:%0A [View on our website]( TRENDS The top 25 Trends discussions of the year We launched Trends in 2016, hoping to become a premier global network for founders, builders, and especially savvy individuals. Today, 15k+ members get the wild weekly newsletter filled with data-backed reports and growth hacks galore. They also consult each other daily for hyper-specific insights, and it’s kind of incredible to see. Here’s a roundup of the [top 25 posts of the year]( spanning ecommerce, Web3, real estate, and more: - A curated list of startup resources - 300 D2C landing page examples from baller brands - The hidden costs of real estate investing - 50+ no- or low-code NFT-related apps for creators Plenty more inside. Test-drive our content and community for a buck. [7 days for $1 →]( Zoomtowns [drought]( Zoomtowns are drying up, literally Many remote workers moved from pricey cities to cheaper areas where they could afford a home. This not only drives up housing costs, but transplants are also straining limited water resources, [according to]( Business Insider. This is especially true… … in the drought-stricken American Southwest, where temperatures are high and water is diminishing amid climate change. - Cities including Phoenix, Austin, and Santa Fe all saw their remote-work shares bump to 20%+ in 2021, compared to the national average of 17.9%. - A University of Nevada, Las Vegas study found residential water use in Henderson, Nevada increased amid the pandemic, due in part to remote work. While an individual household doesn’t use as much water as, say, agriculture or giant companies, it’s still troubling. What’s the solution? Just increasing water costs could harm lower-income families while failing to change the habits of those who can afford it. But similar strategies do work. In southern Nevada, water usage has decreased 25%+ in the last 20 years, despite an increasing population, thanks to tactics like: - Penalties for water-wasters - Restrictions on water usage - Rebate programs for sustainable changes, like replacing grass with climate-friendly plants Meanwhile, some areas are trying public shaming. For example: The Suffolk County Water Authority’s 2022 “water hogs” [include]( Joann Goldsman, wife of Batman & Robin screenwriter Akiva Goldsman. Poison Ivy would be so pissed. [Share on Facebook]( [Share on Twitter]( [Send as email to a friend](mailto:?subject=The%20Hustle%20wrote%20something%20I%20think%20you%27ll%20like...%0A&body=Zoomtowns+are+drying+up%2C+literally%0Ahttps%3A%2F%2Fthehustle.co%2F10252022-Zoomtowns%3Futm_campaign%3DTaiwan%2Bchips%26utm_content%3D10252022-Zoomtowns%26utm_medium%3Demail%26utm_source%3Ddaily%0A%0AYou%20can%20subscribe%20with%20my%20link%20here%20to%20get%20the%20latest%20in%20tech%20and%20business%20daily:%0A [View on our website]( AROUND THE WEB 🖥️ On this day: In 2001, Microsoft [released]( Windows XP, which replaced the “blue screen of death” with a pop-up. 😊 How to: [Add]( custom emoji to Slack. 💡 Haha: This [website]( lists half-baked ideas. 🪦 That’s interesting: Wikipedia’s “[deaditors](” update pages upon someone’s death. And sometimes, they’re faster than the news. 🐣 Aww: And now, [co-parenting](. MEME [closing tabs meme] Follow Sara on [Twitter]( TELL FRIENDS → GET PRIZES Help your friends aboard our growing pirate ship. Share The Hustle Daily to start winning loot. [all prizes]( [Share The Hustle 🤠→]( Or copy this custom referral link: [ Your referral count: 0 How did you like today’s email? Today's email was brought to you by [Jacob Cohen](, [Juliet Bennett Rylah](, and [Rob Litterst](. Editing by: Mark “The Mayor of Zoomtown” Dent. Was this email forwarded to you? Sign up [here](. [PODCAST]( [JOBS]( [CONTACT US](mailto:news@thehustle.co) [Facebook]( [Youtube]( [Instagram]( [Twitter]( 25 FIRST ST. 2ND FLOOR, CAMBRIDGE, MA 02141, UNITED STATES  +1 888 482 7768 Never want to hear from us again? Break our hearts and [unsubscribe](list=thehustle). [The Hustle logo](