The Weaponization Of Water | AllTrue’s Silent Shutdown | Taiwan’s 50 Richest

Plus: Edward Snowden Revealed As Key Participant In Mysterious Ceremony Creating $2 Billion Anonymous Cryptocurrency

Good morning.

Water supplies become more critical as climate change puts a strain on natural resources—no wonder they’re becoming increasingly targeted in conflict zones. We’re also covering the sudden, quiet shutdown of socially conscious subscription box AllTrue, and calculating the changing fortunes of Taiwan’s 50 richest people. Finally, we confirmed that whistleblower Edward Snowden played a critical role in the creation of the anonymous cryptocurrency zcash, which is now worth $2 billion.

In The News Today

Beijing authorities have taken a further step to locking down some of its residents, mandating remote learning for a number of schools in the Chinese capital that is trying to contain an outbreak of coronavirus in pursuit of the country's “zero-Covid” policy.

Southern California’s Metropolitan Water District (MWD) is considering a ban on outdoor watering in some parts of the area by September if the state’s record-breaking drought conditions continue to worsen.

Top Take-Aways

Elon Musk’s latest tweets sparking attacks against company employees aren’t violating the SEC’s terms of the deal, although they add to concerns that, under his ownership, toxicity and division on the site will increase and drive users away. Twitter’s first-quarter results, reporting today, couldn’t come at a more critical time.

As changing weather patterns make drought more common in some parts of the world, targeting water resources becomes a more devastating—and sadly increasingly common—war tactic, as indicated by Russia’s invasion of Ukraine and other conflicts across the world.

The website of feel-good subscription box firm Alltrue has a sleek and cheerful feeling to it—but one very important detail is missing: the socially conscious company is going out of business.

The price tag for Chelsea, the Premier League team Russian oligarch Roman Abramovich is being forced to sell, is expected to be in the range of $3 billion, making it the most expensive sale of a sports team in history. Whichever of the competing bidding teams is approved, they are unlikely to sustain the weekly $1 million loss recorded during Abramovich’s reign. 

San Diego State’s Matt Araiza didn’t expect to become college football’s breakout sensation last season. But now that the 21-year-old punter is on the doorstep of the NFL, he may become the position’s first endorsement all-star.

Taiwan’s benchmark Taiex index fell 3% over the past 12 months, but strong tech exports and a revival in domestic demand boosted the country’s economy by 6.3% in 2021—the biggest gain in a decade. The collective wealth of Taiwan’s 50 richest rose to $158 billion from $149 billion last year.

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