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July 29, 2022
Happy National Chicken Wing Day!
Did you know that Buffalo wings were invented by mistake? In 1964, a bar owner in Buffalo, NY ordered a shipment of chicken necks but received chicken wings instead. At that point, guess you could say she had to... wing it.
In today's edition:
- Meta feels the heat
- NBA contract weight clause
- Friday 20 Questions
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 Key Stories
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US Enters Technical Recession
The US economy shrank at an annualized rate of 0.9% from April to June — the second consecutive quarter in which the economy shrank
- The economy shrank at a rate of 1.6% from January-March
- The traditional unofficial definition of a recession is 2 consecutive quarters of declining GDP (economic activity). The US now meets that definition
- Some officials — including President Biden and the NBER (the group that officially designates recessions) — have said that the US is not in a recession, because other figures, including unemployment and job creation, suggest the economy remains strong
Dig Deeper
- If the US enters into a recession, it would be the second in two years. The most recent recession occurred during the first and second quarters of 2020 in response to nationwide lockdowns caused by the pandemic. Since World War II, the US has averaged one recession every 6 years
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JetBlue to Buy Spirit Airlines
JetBlue has reached a deal to buy Spirit Airlines
- Spirit was the US’ 6th-largest airline by passengers in 2021; JetBlue was 7th. The merged one will be the US’ 5th largest
- In February, Spirit announced a proposal to merge with budget competitor Frontier. That deal fell through on Wednesday, though, then JetBlue agreed to pay $3.8B
- The government still needs to approve the deal, to which it may object on grounds of reduced competition. JetBlue says the merged company will increase competition by adding a competitor to the 4 airlines that dominate US air travel
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Meta Feels the Heat
Meta, which owns Facebook and Instagram, experienced its first ever year-over-year quarterly revenue decline
- Between April and June, Meta made $28.8B, down from $29.1B in the same period last year
- CEO Mark Zuckerberg blamed the dip on an “economic downturn,” which has led to less advertising demand and lower ad rates
- Meta has struggled to compete with TikTok, whose ad revenue has soared in recent years. Zuckerberg said that Reels, its TikTok competitor feature, is now making $1B+ annually
Dig Deeper
- Meta has been remaking Facebook and Instagram to feature "Reels," short TikTok-style videos, and Zuckerberg now estimates that 1/5 of users' time spent on Instagram is on reels. The changes have sparked a backlash among Instagram users, who have created a "Make Instagram Instagram Again" hashtag
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Manchin Backs Climate Bill
Senator Joe Manchin (D-WV) will vote for President Biden’s climate and social spending bill, likely giving it enough votes to pass
- The bill includes healthcare subsidies, higher taxes on some investments, a 15% minimum tax for corporations, and $370B in climate spending. It will be the US’ largest ever climate-spending bill, if passed
- The Democrats hope the bill — labeled the “Inflation Reduction Act”— will increase tax revenue by $739B and spend $433B, cutting the deficit by $300B+
- The Republicans say the tax increases will hurt the economy and the spending will fuel inflation
Dig Deeper
- The bill is a modified version of Biden's earlier "Build Back Better" bill, which Manchin killed last year, citing concerns about inflation and government spending. Democrats hope to pass the bill through a process known as "Reconciliation," through which bills require 51 votes to pass, rather than the standard 60. Passing the bill will require the votes of all Democrats, and Manchin was viewed as the last holdout
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 Popcorn |
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ICYMI
- Happy Birthday, Mr. Trailer: The official trailer for Blonde, starring Ana de Armas as Marilyn Monroe, is now out on YouTube
- Costly service: Spectrum has been ordered to pay $7.4B to the family of a Texas woman whom a Spectrum employee robbed and murdered
- Beyond underwhelming: Beyond Meat's stock dropped on the news that demand for the McPlant burger at McDonald's was lackluster
Wildcard
- Paws-itively wonderful: A humane society rescued 80 dogs from a condemned house in Newark, NJ. They are now caring for the dogs
- Pick and rolls: Former NBA #1 pick Zion Williamson's contract says he will lose guaranteed money if he doesn't stay under 295 lbs
- Trick or TRICK: Hershey's will not be able to meet Halloween demand this year due to increased demand and supply chain issues
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 What do you think?
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Today's Poll:
When you hear bi-weekly, which is your first thought?
Once every two weeks
Twice a week
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Today's Question:
Just 20 Qs!
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 20 Questions
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Every Friday, we ask the Roca readers 20 questions, then feature our favorite answers the following week.
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"Smells Like 20 Questions." - Nirvana
20 Questions is back! For the uninitiated, every Friday we ask you 20 Questions and feature our favorite responses the following week. We love reading your responses and are returning today with TRUE or FALSE edition!
Reply with true or false to each of the below to Max@Rocanews.com. Have a great weekend!
1. Onion rings are better than fries
2. Middle school is better than high school
3. The best way to toast a marshmallow is to light it on fire
4. TikTok should be banned
5. I don't go to Starbucks
6. Companies should be more socially/politically active
7. Chinese food is better than Mexican food
8. I order General Tsos when I get Chinese food
9. The US is in a recession
10. The US should arm Ukraine
11. Jack Black is funnier than Will Ferrell
12. The best Rice Krispie mascots is Crackle
13. Lord of the Rings is a better series than Harry Potter
14. The snack bar at 7/11 looks appetizing
15. Having a pet pigeon would be weird
16. A carbon tax should be implemented
17. You are excited for fall
18. Meta should be broken up for antitrust reasons
19. Writing in cursive has come in handy in your life
20. Nicolas Cage is going to steal the Declaration of Independence
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Last Week's Responses
1. Are people too dependent on coffee, or is it a "good" addiction?
"'Coffee is the lifeblood that fuels the dreams of champions' - Mike Ditka"
"Its fine. stop worrying and have another cup"
"Required daily attitude medication"
2. Suggest a guest for our upcoming podcast!
"Me! Just getting out of the military as an F18 pilot in the Navy"
"Um…Bill Nye"
"Dolly Parton"
3. Suggest a segment for our upcoming podcast!
"Best answers from your loyal subscribers;)"
"One of the people you met in Ukraine."
"Interviewing Athletes!!"
4. What's your favorite podcast?
"The World and Everything In It"
"Most any NPR"
"Armchair expert"
5. Who is your favorite comedian?
"Dave Chapelle"
"Tina Fey"
"Dave Attell"
6. How do you feel about political correctness?
"Pass"
"It's like etiquette, okay. Sometimes it's stupid. Sometimes you don't get it. But if you care about being respectful, maybe just go along with it"
"Depends on the circumstance"
7. If Roca disappeared, where would you get your news?
"I’d make it up. NO MSM"
"Tik tok"
"NPR"
8. How often do you look at art?
"Everyday - the world is art"
"My wife is an artist. All the time"
"Rarely…"
9. Why are fewer people getting married nowadays?
"They are smartening up!!"
"Dating apps"
"All the good ones are taken"
10. Are dating apps a net negative or positive for society?
"I have never used one. Meet my wife in a bar"
"Both. I know some people that have found the love of their life. Also people that have a hard time with it"
"We found love in a hopeless place by Rihanna"
11. Best midnight snack?
"Popcorn and reeses pieces"
"Graham Crackers and milk"
"Oreos"
12. Comfiest clothing item you have?
"Hoodie I bought 15 years ago"
"Snuggie"
"Sweatpants from basketball"
13. Your least favorite word?
"Shhhhhh"
"No"
"Suck"
14. Babysit Jack-Jack from the Incredibles or Maggie Simpson?
"Jack-Jack, oh the fun we could have!"
"Neither please"
"Maggie would be chill … I guess"
15. Round pickles or spear pickles?
"Can’t decide. It’s like picking my favorite child"
"Spears always"
"Round but only if they’re Grillos brand"
16. Do you use the word "mid"?
"Mids?"
"Little bit"
"I’m not 15"
17. Is meteorology a scam?
"I think its subjective. Yea, the warm air is over here, but the winds from the northeast blah blah. Just tell me you think I should take the cardigan, Dan, and let me get on with my life"
"No. Predicting forces of nature is not easy"
"I hope not …"
18. Thoughts on cyclists?
"It’s a choice to exercise in the middle of the road"
"move b***h, get out the way, get out the way!!"
"I love them. Share the road!"
19. Your favorite campfire song?
"She'll be comin around the mountain"
"John Denver, take me home country roads"
"Campfire song by SpongeBob"
20. What should be a college major that isn't?
"Common sense"
"Manners"
"Something about emotional intelligence"
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 Roca Clubhouse
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Yesterday's Poll:
What's the first city that comes to mind when you think of California?
United States: 44.4%
China: 55.6%
Yesterday's Question:
Let's get controversial... Who is the greatest athlete of all time?
Steve from Rhode Island: "The best athlete of all time imho would have to be Secretariat…no skeletons in his closet like so many others that would cloud one’s thinking with human athletes!…Although I did hear his father may have been an overeater…..”Hay” no one’s perfect!"
Tony from Detroit: "Tough question because it depends on how you define “greatest”. If you go off success in their individual sports it is hard to argue against Phelps, Jordan, Brady, and Gretzky. The most athletic person is probably Bo Jackson. My final answer is Jordan."
Conor from Ireland: "Joey Chestnut. 76 hot dogs in 10 minutes will NEVER be beaten by anyone besides Joey Chestnut. Pure Athleticism."
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Today's Clue (Day 4 of 4):
Tough to be released from a basement
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Day 1: If I were an Angel, where would I fly to? Paradise, but CCR was there
Day 2: Barefoot girls from Clue 1 doing something that became an anthem
Day 3: The namesake of the band that did the aforementioned anthem in Clue 2
Prizes include $250 for 1st place and $100 for 2nd and 3rd place!
Each newsletter this week contains a clue about a landmark in the United States. Thursday's newsletter contained a bonus clue, which was automatically unlocked by 2 referrals to this newsletter. In total there are 5 clues about 1 landmark.
You get one guess, which you submit by replying to a newsletter with a Google street view screenshot.
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 Final Thoughts
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As a great cartoon bunny once said, "That's all folks!"
Happy Friday. Please send us your 20 Qs answers so we have something to entertain ourselves with this weekend. Don't be alarmed if we respond at 4:15 AM.
See you next week!
-Max & Max
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