May 11, 2022

People forget that Grover Cleveland was on the $1,000 bill. The bill, unfortunately, was discontinued in 1969 due to "lack of use." This is a real shame because there is no face I more associate with livin' it up than that Grover Cleveland's. Also, fun fact, Grover's first name was actually Stephen.

― Key Stories

Goodbye, iPods
Overview

• Apple announced it is discontinuing the iPod touch — the last remaining iPod
• The iPod launched in 2001 with the capacity to hold 1,000 songs; the iPod Touch launched in 2007. Apple last updated the iPod Touch in 2019
• The iPod, of which Apple has sold 400M+, helped digitize the music industry and pave the way for the iPhone, iPad, Air Pods, and other devices
• While Apple’s devices remain dominant, the company has struggled to stay atop the music streaming business: Apple Music controls ~15% of the streaming market, compared to Spotify’s 31%

Gas-Eating Germ Discovered
Overview

• Researchers in Spain have discovered a fuel-eating bacteria under cars’ gas lids
• The formerly unknown bacteria has “great potential for fuel biodegradation of diesel or gasoline-contaminated environments,” the researchers said
• They were looking for bacteria with the potential to eliminate contamination. That led them to inspect everyday places where toxins and fuel are present
• The researchers believe the species could be used for bioremediation, which is the use of natural elements to detoxify various environments

Warhol Painting Fetches Nearly $200M
Overview

• A 1964 Andy Warhol painting of Marilyn Monroe sold for $195M
• The amount makes it the most expensive 20th century artwork ever sold, as well as the most expensive artwork by an American artist ever sold
• The prior most-expensive 20th century painting was a $179M Picasso; the prior most-expensive American painting was a $111M Basquiat
• Andy Warhol painted a series of Marilyn Monroe portraits beginning in 1962, each of which he sold for $225. This painting was 1 of 5 “repaints” he made in 1964

Trump's Twitter Return?
Overview

• Elon Musk said he plans to lift former US President Donald Trump’s permanent ban
• “Permanent bans should be extremely rare and really reserved for accounts that are bots, or scam, spam accounts,” he said. “I do think it was not correct to ban Donald Trump”
• “I think that was a mistake, because it alienated a large part of the country and did not ultimately result in Donald Trump not having a voice”
• The platform banned Trump in Jan 2021 due to “the risk of further incitement of violence.” Musk has said it is important to have an open forum

See yesterday's results below the Wrap!

 Popcorn

Culture & Sports

• Goat on Fox: Tom Brady has agreed to a 10-year, $375M announcing deal with Fox Sports. He will head to the booth once (if?) he retires
• First-class break: Mike Tyson will reportedly not be charged in the plane incident last month, during which he appeared to hit another passenger
• Binging dystopia: Westworld is returning to HBO with Season 4 on June 26. The official trailer for the upcoming season can be seen here

• LA police are looking for the thieves who allegedly jumped out of a Rolls Royce and stole $19,000 worth of luxury watches from a couple
• Zuck cleanse: A new study from the UK suggests that a weeklong detox from social media can significantly improve mental health
• A 157-yo Illinois college is closing due to a ransomware attack. Lincoln College hasn't been able to access its systems for months
• Wile E. Puppy: A stray puppy that a Massachusetts family took in turned out to be a coyote. It is now in the care of a wildlife center 

― Roca Wrap

A Newsletter Exclusive

In September, for the first time ever, a Japanese crime boss was sentenced to death. So fearsome was the man that the trial was held without a jury, over fears of intimidation; if the man is actually executed, it won’t be disclosed until after the fact.

Yet despite the fear, it was a low point for Japanese organized crime gangs – the yakuza – whose power has largely vanished in recent decades. From 180,000 members in the 1960s, it has just 25,000 today.

Organized crime groups emerged in Japan in the 1600s and formed into “families” in the 1700s. They progressed from controlling booths at trade fairs to running gambling operations. In the 1800s, they moved into labor and public transportation, then used their leverage to control politicians and government officials.

Yakuza power peaked after World War 2, when more than 20 families flourished in occupied Japan. They controlled black markets, gambling, prostitution, construction, real estate, and politics, financing one of the country’s most powerful parties. When US President Dwight Eisenhower planned a visit to Japan in 1960, the yakuza were asked to provide his security. 

The yakuza developed a unique code – jingi – based around justice, duty, and loyalty. Younger members were called kobun (“child status”), and they pledged allegiance to older members, oyabun (“parent status”). Traditionally, a member who breaks the yakuza code has atoned by slicing off his finger and presenting it to his oyabun.

Yakuza were known for their distinct appearance: Dyed hair, suits, sunglasses, unbuttoned shirts. Many had full-body, hand-painted tattoos, which have given tattoos a criminal connotation in Japan ever since. When the Yakuza were at their peak, they operated in plain sight. So long as they kept to black markets, they were left largely alone.

As Japan’s economy became more formal and less corrupt, though, the yakuza found fewer opportunities. A move into business and politics provoked a backlash, and in the 1990s, the government tightened sentences for members and their associates, while blocking Yakuza members from opening bank accounts, getting credit cards and insurance, and signing mobile phone contracts. 

With less reward and more risk, membership has cratered to today’s roughly 25,000. And of those members, 51% are older than 50, 10% are over 70, and just 5% are in their 20s. 

3 primary yakuza syndicates remain active, profiting off arms trafficking, the drug trade, prostitution, and more. Yet after nearly 400 years, the yakuza may be at the end of their line.

― Hump Day Pics

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― Final Thoughts