May 25, 2022

On this day in 1961, President John F Kennedy declared, "I believe that this nation should commit itself to achieving the goal... of landing a man on the Moon." Little did he know that 61 years later, Americans would be undertaking a much more noble and challenging goal: Solving the Roca Treasure Hunt.

Also, you have 24 hours left to unlock the bonus clue in tomorrow's newsletter. Forward this email to your friends, and if 2 sign up with your unique link, it'll be in your newsletter tomorrow! 

In today's edition:

• Tragedy in Texas elementary school
• Treasure Hunt Clue 3
• Why kids are smoking USB sticks 

 Key Stories

IKEA Brings the Power of the Sun

IKEA — the world's biggest furniture brand — will soon sell solar panels in the US

• The panels will not be self-assembled. IKEA is partnering with solar-energy provider SunPower to install rooftop solar systems and battery storage units
• IKEA has experimented with solar panels in other countries. In the UK, it offered solar panel installation for around $9,000, but stopped offering them once a change in government subsidies led to higher costs
• In Sweden, IKEA partners with an energy company to sell renewably-sourced energy to houses

• Environmentalists often say that Ikea's fast-furniture style leads to excess waste and carbon emissions. The company says it's "passionate about helping our customers live a more sustainable life at home"

California Parents to Sue Social Media

A bill that would let parents sue social media companies for getting their kids addicted to their products passed the California (CA) state assembly

• “Addiction” refers to kids who are “harmed” by social media but unable to stop using it. Companies that remove or routinely check for addictive features would be exempt from lawsuits
• The bill, which has bipartisan support, still needs to pass the CA senate and governor’s office
• “The era of unfettered social experimentation on children is over and we will protect kids,” said the author of the bill

• Do you think you would support this bill? Let us know below in today's poll of the day!

School Shooting in Texas Kills 21+

A shooting at a Texas elementary school killed at least 21 people, reportedly 19 students and 2 teachers

• The shooter, an 18-yo who had attended the school, reportedly shot his grandmother before driving to the school and opening fire. He was killed, apparently, by police at the scene
• The school is located in Uvalde, a small town about 80 miles (129 km) west of San Antonio
• “What happened in Uvalde is a horrific tragedy that cannot be tolerated in the state of Texas,” Texas Governor Greg Abbott said

SpaceX's Value Rockets

SpaceX, Elon Musk’s space exploration company, was valued at $125B

• SpaceX is now valued higher than companies such as IBM, Lowe’s, and Charles Schwab
• To date, SpaceX has launched 2,400+ satellites and sought approval for tens of thousands more. SpaceX can currently produce up to 45 satellites weekly
• SpaceX is also investing billions in Starlink, satellite- provided wifi. Starlink is currently active in Ukraine, where the company provided 12,000+ free receiver dishes

• When Russia first invaded Ukraine, a Ukrainian official tweeted at Elon that "while you try to colonize Mars...Russian rockets attack Ukrainian civil people! We ask you to provide Ukraine with Starlink stations." Musk did that, and Ukraine says the support is proving vital to their war effort

• The first person to send a Google Street View screenshot of the correct place wins $5,000, second wins $3,000, third wins $2,000 
• No in-person photos will be accepted. This is an entirely virtual game
• You have only 1 guess and it can not be changed
• You can guess at any time by replying to a newsletter, which goes out at 11:00 AM ET daily 
• Winners will be announced on May 31
• Full rules are at the bottom of this email!

• Release the drones: Walmart will launch its drone delivery service in 5 new states, including Florida and Texas, after testing it in Arkansas
• Get in, loser, we're saving presidents: The FBI arrested an Islamic State sympathizer who was allegedly planning to assassinate George W Bush
• Garfield, where's my super suit? Samuel L Jackson is joining Chris Pratt on the cast of Garfield, an animated movie based on the comic

 What do you think?

See yesterday's results below the Wrap!

 Roca Wrap

If you haven’t puffed on a Juul yourself, you’ve likely seen someone else do so. But how did this addictive, sleek device find its way into so many of our mouths?

** 

Adam Bowen and James Monsees had 2 things in common: They smoked cigarettes, and in 2004 they were graduate students at Stanford studying product design. During a cigarette break between classes, their thesis project occurred to them: Design a device to give smokers the nicotine they want without the harmful tobacco and additives found in cigarettes. 

A year later, the duo presented their thesis project – an e-cigarette called the Ploom. The Ploom took inspiration from Nespresso pods and pioneered the liquid nicotine cartridges that Juul would later rely on. 

“It turns out actually that burning tobacco is the real problem,” one of the founders said in their thesis presentation. “Nicotine is addictive, clearly, but it’s not the nicotine that’s really hurting you; it’s mostly the combustion that’s a problem.” 

After graduating, the founders landed venture funding to produce and sell the Ploom. The product was far from perfect – it inconveniently required users to carry around butane for refills and was known to shock people – but it helped them land more money. In 2011, they secure a $10M investment, which they turned into a new vaporizer – the Pax.

The Pax was a high-end vape that used a battery to heat tobacco or marijuana without burning them. The product – whose $250 price tag and sleek design drew comparisons to Apple products – was popular, but had a niche market. 

They returned to the design phase, intending to make an affordable, sleek, and convenient e-cigarette. They debuted the result in 2015: Juul, a USB drive-shaped e-cig that used a battery to heat up single-use flavored nicotine pods – so-called “vape juice.” 

After a slow start, Juul caught the surging e-cigarette wave: Vapes were exploding in popularity, and Juul was the coolest e-cigarette brand, having held exclusive parties and mailed devices to celebrities – including Leonardo DiCaprio and Bella Hadid – at launch. In early 2017, Juul controlled about 30% of the US e-cigarette market; a year later, it controlled 72%. In 2017, Juul made about $200M; in 2018, it made over $1B. 

As Juul ate away at Big Tobacco’s market share, Altria, the owner of Marlboro and one of the world’s largest tobacco companies, swept in. They bought a 35% stake in Juul for $12.8B, valuing the company at $38B – around that of Airbnb or Lyft at the time. 

While the company’s founders were cashing out, though, others – particularly parents and the public health community – were tuning in. Around the time of Altria’s purchase, a Johns Hopkins study found that 6M adult nonsmokers were introduced to nicotine by way of e-cigarettes between 2016 and 2018. 

And parents were increasingly asking: Why is my 14-year-old kid puffing on a USB stick? 

Tune in tomorrow for Part 2. 

 Roca Clubhouse

Yesterday's Poll:

Yesterday's Question:

Spread the Wave!

 Final Thoughts