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May 20, 2022
Roca Riders, we have an incredibly exciting announcement: On Monday, we launch the first-ever Roca Treasure Hunt! Every day, we will be dropping a new clue about the location of a virtual treasure. Although the hunt is virtual, the major cash prizes aren't. Let's... get ready.... to riddle!
Also, 20 Questions is back in its classic format today. Scroll to the bottom for the hilarious results from last week's "Would you rather?" edition.
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Congress to Break Up Google Ads?
Overview
- A bipartisan group of US senators proposed a law that would break up Google’s ad business
- The law bans companies making $20B+ in annual digital ad revenue from participating in multiple areas of digital advertising. Google’s “network” ad business made $32B last year
- Google buys and sells ads, and runs an exchange that lets others purchase ads. One senator who supports the bill said that gives Google “an unfair, undue advantage in the marketplace”
- The bill’s co-sponsors include senators Ted Cruz (Rep., Texas) and Amy Klobuchar (Dem., Minn.)
DIG DEEPER
If enacted, the bill would limit Google to one aspect of the digital ad business – either buying, selling, or brokering ads. A similar bipartisan bill will likely be proposed in the House soon.
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Emergency Law for Formula Shortage
Overview
- President Biden invoked an emergency law to help alleviate the baby formula shortage
- Up to 40% of formula in the US is out of stock. The country’s largest formula plant has been closed since February due to contaminations
- The emergency law, the Defense Production Act, orders suppliers to prioritize supplying formula ingredients. It also authorizes Defense Department jets to import formula from abroad
- This week, Abbott, which owns the closed formula factory, said it reached an agreement to reopen its plant. Doing so should help alleviate the shortage
DIG DEEPER
"Imports of baby formula will serve as a bridge to this ramped-up production," Biden wrote."I am requesting you take all appropriate measures available to get additional safe formula into the country immediately"
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Ivory Stash Goes on Sale
Overview
- Zimbabwe’s government is looking to sell 135 tons of elephant ivory and rhino horns
- The stash has been seized from smugglers and poachers, or taken off carcasses found in nature. It’s worth a collective $623M
- While the sale of ivory has been internationally banned since 1989, Zimbabwe says it would use the sales revenue to improve wildlife management
- Zimbabwe has warned that it may have to cull its elephants because their numbers are growing too quickly. Without the resources to manage them, elephants can destroy crops or attack humans
DIG DEEPER
Zimbabwe and neighboring Botswana are home to 230,000 elephants, over half Africa's total elephant population. When discussing an elephant cull in 2019, Zimbabwe's president said, “Where do they [the West] get the guts to tell us how we should take care of our wildlife?"
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Melvin Capital to Shut Down
Overview
- Melvin Capital, the hedge fund that shorted GameStop and became the biggest casualty of last year’s Wall Street Bets movement, is closing
- Melvin Capital bet billions that the stocks of GameStop, AMC, and other retail brands would fall. When casual traders banded together and started buying those stocks, Melvin saw huge losses
- After starting 2021 with over $12B in assets, Melvin recorded a 53% loss in the month of January alone
- Melvin was on the verge of collapse before other firms bailed it out. It recouped some losses in late 2021, but lost another 23% through April of this year
DIG DEEPER
“The past 17 months has been an incredibly trying time for the firm and you, our investors,” Melvin's founder said. "I now recognize that I need to step away from managing external capital."
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 What do you think?
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See yesterday's results below the Wrap!
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 Popcorn
Culture & Sports
- Nothin' but ̶n̶e̶t̶ China: NBA owners have a combined $10B invested in China, per a new report. China is also a $5B business for the NBA
- The trailer for Marvel's upcoming series "She-Hulk: Attorney at Law" got over 78M views in its first 24 hours, the 2nd most for a Marvel series
- Support ain't wafllin': Johnny Depp made waffles for his fans gathered outside a Virginia courthouse, the site of his defamation suit
Business
- California screamin': Of the 10 US cities with the highest median home listing prices, California claimed 5 of them. San Jose topped the list
- More California screamin': The average price of a gallon of gas in California is above $6. The national average is $4.56
- Streetcar named expensive: A 1955 Mercedes-Benz fetched $143M at auction earlier this month, the most expensive car sale of all time
Wildcard
- Yet my PC crashes?! A computer powered by blue-green algae has run continuously for 6 months. Photosynthesis generates the power
- Hollywood ending: A child star from the movie Jaws is now the police chief of Oak Bluffs, the town where the movie was filmed!
- Cranium berries: A new study out of the UK claims that cranberries boost memory by allegedly increasing blood flow to the brain
- Goodest girl: A California dog is recovering at the vet after saving her owner from a mountain lion attack. The dog was severely injured
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Happy Friday, all. We are psyched to kick off the Roca Treasure Hunt on Monday. By the way, what did they call the movie where Matt Damon looks for thrift store treasures? Goodwill Hunting...
Until Monday, you'll have to entertain yourself with 20 Questions. It's the classic format – so just answer as many as you want, and send replies to Max@RocaNews.com!
Have an amazing weekend!
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1. Will you listen to the new Harry Styles album? Why/why not?
2. Do rock stars still exist? If yes, who is an example?
3. Best concert you've ever attended?
4. A musician whose music you love, but you can't stand?
5. What would your talent be in a talent show?
6. Do you wish you knew more or less about politics?
7. What's a topic you'd like to understand better?
8. Do you read other newsletters? What's your favorite?
9. Something you'd love to do but are scared to try?
10. A lesson you took away from your last relationship?
11. What would be the coolest place to find treasure on earth?
12. How about in your house?
13. Would you rather own a Van Gogh painting or a diamond of the same value?
14. Favorite adventure movie?
15. Celebrity you find most inspirational?
16. Celebrity you find least inspirational?
17. Your least favorite conversation starter?
18. Favorite school lunch from middle school?
19. A political issue that doesn't get enough attention?
20. A time you impressed yourself with something you did?
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Last Week's Responses:
Last week's 20 Qs was a "would you rather" special. Here are the average responses.
1. Have 20% long-term inflation, or 12 fingers?
Inflation - 35%
12 fingers - 65%
2. Eat 50 wings in a sitting, or sit in traffic for 6 hours?
Wings - 58%
Traffic - 42%
3. Be an ugly genius, or a beautiful imbecile?
Genius - 56%
Imbecile - 44%
4. Go barefoot for a month, or only eat bananas for 30 days?
Barefoot - 59%
Bananas - 41%
5. Have a tail, or have no taste (food-wise)?
Tail - 33%
Taste - 67%
6. Fly but go blind at 35, or live a normal life?
Fly but go blind - 18%
Normal life - 82%
7. Start a news company, or run a restaurant/bar?
News company - 45%
Restaurant/bar - 55%
8. Be on the Titanic and survive, or not have been on the ship at all?
Titanic - 38%
No Titanic - 62%
9. Fight a chimpanzee once a year (you have a machete), or have to kill a chicken every time you get in
your car?
Chimpanzee - 66%
Chicken - 34%
10. Fart every time you meet someone new, or burp whenever you kiss someone?
Fart - 30%
Burp - 70%
11. Receive $5M now, or wait ten years for $30M?
$5M - 42%
$30M - 58%
12. Spend 1 year in 2122, or 1 month in 3122?
1 year in 2122 - 47%
1 month in 3122 - 53%
13. Be able to instantly cook any food to perfection, or change what food is the moment it hits your
stomach?
Cook any food - 79%
Change food - 21%
14. Eat Gordon Ramsay's cooking every day, or receive a motivational talk from Tony Robbins every day?
Gordon Ramsay's cooking - 64%
Tony Robbins talk - 36%
15. Be a Jedi in Sar Wars, or a wizard/witch in Harry Potter?
Jedi - 37%
Wizard/witch - 63%
16. Get slapped by a different random 12 year old every morning at 7 AM, or slap a random 7 year old
every night at 11 PM?
Get slapped - 45%
Slap - 55%
17. Drink only Red Bull for a day, or eat only Cinnabons for a day?
Red Bull - 28%
Cinnabon - 72%
18. Shadow Paul Blart for a day as a mall cop, or shadow Ron Burgundy for a day as a TV anchor?
Paul Blart - 31%
Ron Burgundy - 69%
19. Live in space for a week, or live in Dave & Buster's for a month?
Space - 83%
Dave & Buster's - 17%
20. Have a great weekend, or have a mediocre weekend?
Great weekend - 94%
Mediocre weekend - 6%
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 Roca Clubhouse
Yesterday's Poll:
Do you enjoy reading the "Dig Deeper" sections above, or do they make the stories too long?
Enjoy: 94.6%
Too Long: 5.4%
Yesterday's Question:
We're sending Max F on another Roca Roadtrip. Where should he go?
David from Orlando: "He should visit El Salvador, report on the presidency, security, bitcoin, and immigration."
Sam from Austin: "Russia. It would be good to see what's actually going on there like y'all did in the Ukraine."
Tara from North Carolina: "Road trip to Amazonian jungle— would love to hear from local tribes as well as government officials regarding deforestation"
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Every Friday, we're sharing one of Roca's TikToks that gives you an insider view of what its like to work at Roca.
Up this week: A video of things in our start-up office that just make sense. Yes, the first one is a putting green...
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Share The Current with friends, and win free swag! Some are secrets, some are awesome Roca gear.
Let's make this wave a tsunami, and share away!
Copy and send your referral link to others: https://sparklp.co/5b5757bc
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PS - You've brought 0 friends to The Current so far.
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― Final Thoughts
It's a good day to be alive!
Thanks all for reading Roca for another week. We appreciate all of you and your support of our mission. We hope your weekends are fun, relaxing, or exciting – depending on your preference.
- Max and Max
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