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June 10, 2023 View Online | Sign Up | Shop 10% Off

Morning Brew

Starbucks

Good morning. Here’s a question that will shake (or stir) you: If espresso martinis were hot in 2021, and the Dirty Shirley claimed the mantle last year, what will be this summer’s go-to cocktail?

  • Bloomberg says drinks are going retro and orange—think boozy, frozen homages to Tropicana juice branding.
  • Nope, it’s going to be the Pickle Juice Martini, claims Jezebel.
  • Delish predicts the low-alcohol St. Germain Spritz (aka the Hugo Spritz) will be the *it* cocktail.
  • And then there’s Matty, who says the Drink of the Summer is a can of Sprite at a bar when you don’t feel like drinking.

Suppose we’ll find out who’s right in September…

Sam Klebanov, Matty Merritt, Molly Liebergall, Abby Rubenstein, Neal Freyman

MARKETS

Nasdaq

13,259.14

S&P

4,298.86

Dow

33,876.78

10-Year

3.742%

Bitcoin

$26,446.78

Tesla

$244.40

*Stock data as of market close, cryptocurrency data as of 3:00am ET. Here's what these numbers mean.

  • Markets: Stocks celebrated the summer Friday by jumping up yesterday, giving the S&P 500, which recently reentered bull market territory, its fourth positive week in a row. Tesla enjoyed its eleventh consecutive trading day in the green, matching its longest hot streak (we’ll explain why in just a sec).
 

AUTO

How Tesla won the US charging race

Tesla charger with green upwards arrow going through it Francis Scialabba

Tesla will soon be serving up voltage to more non-Tesla drivers. And, thanks to recent deals with other automakers, the shape of its charging connector is likely about to dominate the US EV market.

This week, GM and Tesla announced a deal that will allow GM EVs to get juiced up by 12,000 fast chargers in Tesla’s sprawling network of charging stations. The partnership follows a similar agreement reached with Ford last month, making Tesla look like it’s in charge of charging.

Its charger network is vast, boasting 20,000 fast chargers in 1,800 spots nationwide, but it wasn’t always a sure thing that Tesla would become the charging standard-bearer.

  • The company took a major gamble when it decided to make its charging system incompatible with other EVs that use the biggest competing standard, the Combined Charging System (CCS).
  • But now analysts say other automakers will likely follow in GM’s and Ford’s footsteps and design EVs using Tesla’s North American Charging Standard (NACS).

Tesla’s standard is set to become the industry standard since the deals mean the top three EV producers (which currently account for ~70% of US EV sales) all use it.

Tesla won’t be charging free of charge: The GM and Ford partnerships will help it rake in an additional $5.4 billion in annual revenue by 2032, Piper Sandler estimates. And in more good news for the EV giant, the White House said yesterday that Tesla can receive government subsidies to build more charging stations if they include CCS adapters so other EVs can use them, too.

Tesla is on a roll…its stock climbed 27% over the past two weeks (losing short sellers over $6 billion, according to S3 Partners). In addition to the Ford and GM deals, investors are charged up about rumors that the company plans to ship more Cybertrucks than predicted.—SK

     

TOGETHER WITH STARBUCKS

Not too big, not too small

Starbucks

Here’s some news to make Frappuccino coffee lovers smile: There’s a convenient new addition to Starbucks’ ready-to-drink coffee lineup. Frappuccino Mini coffee beverages are here to give you the familiar flavor you know and love in a “just-right-sized” can.

There’s no limit to where you can enjoy these mini treats. Maybe you’ll bring an 8-pack of creamy Caramel or smooth White Chocolate Mocha to your next gathering. Or you’ll savor the flavor during an at-home coffee break. Sip at your leisure, wherever that may be.

Enjoy big flavor whenever you need a mini break.

WORLD

Tour de headlines

Boxes of documents in a Mar-a-Lago bathroom US Department of Justice via Getty Images

Trump classified docs indictment contains 37 counts. In a federal indictment unsealed yesterday, prosecutors accuse the former president of illegally hanging on to classified materials after leaving office, including documents with military and nuclear secrets. It alleges that Donald Trump kept boxes of documents in a bathroom and on a ballroom stage at Mar-a-Lago and that he twice showed secret information to people who did not have security clearances (once while noting that he was no longer able to declassify documents). Trump, who denies doing anything wrong, is expected to appear in court Tuesday before Aileen Cannon, a judge he appointed and who ruled in his favor on issues earlier in the case. A Trump aide was also indicted.

Netflix subscriptions jump after password-sharing crackdown. Netflix’s long-awaited war against password sharing has finally begun, and it’s already delivered the streaming giant its best days of new US user sign-ups in at least four years, according to the analytics company Antenna. Netflix added 100k US subscribers on each of two days after it started enforcing the new rules. The company has estimated that 100 million households are sharing passwords, but now that’ll cost an additional $7.99 per month—on top of $15.49 for the cheapest subscription tier to allow password sharing.

Lost children found after 40 days in the jungle. Four children who were in a plane crash over a month ago have been found alive and rescued, Colombia’s President Gustavo Petro said yesterday. The children, who ranged from an infant to a 13-year-old, survived the May 1 Cessna crash that killed their mother and the two other adults on the aircraft and had been wandering in the Amazon jungle ever since. They were evacuated for medical care after being found by an intensive military-led search that also involved scouts from the local indigenous community that the children are a part of.

HEALTH

Is the fountain of youth filled with Monster?

Energy drink with halo around it Francis Scialabba

Teens who loiter in parking lots and slam six energy drinks before 9am might live forever. The amino acid taurine, which is found in energy drinks (and naturally in meats and seafood), could be the magic elixir of living longer.

Researchers fed high concentrations of taurine to mice, monkeys, and worms and published their promising results Thursday in the journal Science. All groups receiving the extra taurine were healthier and lived longer: Mice taking the supplement lived about 10%–12% longer than the control group and had higher muscle endurance.

How does it work? Scientists don’t yet know whether humans will see similar results, but they think that supplementing with the amino acid, which you naturally produce less of as you get older, may delay the health issues that come with aging.

There are lots of caveats. For starters, the animals were given huge doses of taurine relative to their body weight. For a human to take that level exclusively from energy drinks, they’d have to drink about 63 cans of Monster…per day, according to the BBC. Plus, there’s a lot of stuff in that syrupy liquid that might cancel out any health benefits.—MM

     

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CULTURE

Inside the ‘illusion of moral decline’

Old man yells at cloud The Simpsons/20th Television

If you often shake your fist at society’s downward spiral into an immoral hellscape, you’re not alone—but a new study says you're probably wrong.

Over the past 70 years, survey respondents worldwide have consistently said they think humanity is experiencing a decline in kindness, honesty, and other values—but a peer-reviewed study published by Nature this week asserts that this perceived moral decay is just an illusion.

  • The vast majority of 220,000 Americans surveyed between 1949 and 2019 said the state of moral values was worse at the time of being surveyed than it was before. Similar polling in 59 other countries had pretty much the same results, according to the study.
  • But over the same period, there’s been no decline in positive answers to questions like “Were you treated with respect all day yesterday?” Some respondents even said the people in their social circles showed moral improvements between 2005 and 2020.

So, why do we yearn for the supposed good ol’ days? One theory attributes it to the brain’s rose-colored tendencies when reminiscing. Our habit of focusing on bad stuff in the present, likely aided by mass media covering more bad news than good, could also be to blame.—ML

     

GRAB BAG

Key performance indicators

An engagement ring with cobwebs on it Hannah Minn

Stat: Blaming the pandemic for a dip in your business in 2023 might feel a little dog-ate-my-homework, but Signet Jewelers, which owns Kay Jewelers and Zales, says that’s why engagement ring sales are down. Signet CEO Virginia Drosos told CNBC the company expects fewer people to put a ring on it this year because it typically takes consumers three-and-a-quarter years to get from the first date to the proposal—and people weren’t meeting each other during lockdowns. As a result, the company predicts 2.4 million engagements this year instead of 2.8 million, but it expects happy couples to start giving each other bling again in the future, Drosos said.

Quote: “Honestly, it’s cheaper for me to stay at home in Charleston.”

Commuting to work via jet screams CEO move, but apparently, it’s now something interns do to save cash. Marketing intern Sophia Celentano revealed on TikTok that rather than paying New York City rent, she lives in Charleston, SC, with her parents (where presumably the rent is free) and flies into Newark every Wednesday to make it to the office by 9am the one day per week she’s required to be there. The life hack isn’t great for your carbon footprint, but according to Fortune, the average rent for an NYC studio is $3,485, while a round-trip flight from Charleston to Newark comes in around $200.

Read: The wild story of the psychic, the sheikh, and the $90 million diamond heist. (Vice)

NEWS

What else is brewing

  • Greta Thunberg graduated from school (congrats, Greta!), so she held her 251st and final school strike, where the young activist skipped class on Fridays to protest climate change.
  • A panel of experts determined that the FDA should approve Leqembi, an Alzheimer’s drug that costs $26,500 a year. The agency will take this into consideration when it makes its decision on July 6.
  • Boris Johnson, the former UK prime minister with the floppy hair, resigned from Parliament, saying he was driven out by a “witch hunt” after receiving a confidential report about his partying during the country’s period of strict Covid rules.
  • A startup working to make lab-grown bacon got $30 million from a group of investors including OpenAI’s Sam Altman.

RECS

Saturday To-Do List graphic

Great responsibility: How a scene made by a 14-year-old found its way into the new Spider-Man movie.

Tunnel vision: Watch a cellist enjoy the acoustics of a giant London sewer tunnel. (YouTube)

Get the 411 on the 212: There’s a reason big cities have low numbers in their area codes.

When text-to-video prompts go wrong: They go really wrong.

A win-vin: Get matched with a custom assortment of wine crafted by award-winning, independent winemakers. Take the quiz and use code DAILYBREW50 for $50 off your first Naked Wines shipment.*

*This is sponsored advertising content.

GAMES

The puzzle section

Brew crossword: Experts agree there’s no better way to start a summer Saturday than solving one of Mary’s puzzles. Check out today’s here.

Open House

Welcome to Open House, the only newsletter section that is entering its exclusivity era. We’ll give you a few facts about a listing and you try to guess the price.

Cliffside villa in JapanSotheby's

Today’s listing is about an hour and a half outside of Tokyo (by express train) in Katsuura, Chiba, Japan. It’s a 5,898-square-foot villa built overlooking the Pacific Ocean in a national park, so…no neighbors. Amenities include:

  • Tub also overlooking the Pacific Ocean
  • Tea house
  • Rooftop grass

How much for a peaceful cliffside retreat?

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AROUND THE BREW

Cruisin’ for a crew

Cruisin’ for a crew

We don’t gatekeep over here. Our MB Smiley crew is still 25% off. Shop now before it’s gone.

Love the stealth wealth aesthetic? Build the wealth part of that equation with Money Scoop, our free personal finance newsletter. Subscribe today.

Employees’ wants and needs are ever-changing. How can organizations adapt, and what does it mean for HR? Get insights from this on-demand webinar.

ANSWER

$12 million

         

Written by Neal Freyman, Sam Klebanov, Matty Merritt, Molly Liebergall, and Abigail Rubenstein

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