Stimulus Vote Delay | Biden’s Debate Donations | Asana And Palantir: A Tale Of Two IPOs

Plus: The Scientologist Billionaire Trying To Make A New Antibiotic

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Treasury Secretary Steven Mnuchin and House Speaker Nancy Pelosi failed to reach an agreement over the second stimulus bill, but House Democrats delayed a vote to move forward with their own revised proposal to give Mnuchin and Pelosi the chance to meet again and reach a deal today. 

Even if Pelosi and Mnuchin reach a last-minute agreement, they will then need to persuade Senate Majority Leader Mitch McConnell and Senate Republicans to take up the new bill.

Timing is of the essence—with October 1 being the deadline for the conditions laid out in the first economic relief package, the CARES Act, some industries like the aviation sector are foreseeing tens of thousands of furloughs if no government help is forthcoming.

What Else To Know Now

Who won Tuesday’s messy presidential debate? Some polls indicated a majority of people preferred Joe Biden’s performance. If you don’t trust polls, follow the money: the Biden campaign raised $10 million during the three-hour debate, including a record $3.8 million within one hour.

One of the frontrunners to develop a safe coronavirus vaccine, pharmaceutical company Moderna said that widespread distribution wouldn’t occur until at least spring 2021 even if a safe vaccine was found by the end of this year.

Top Take-Aways

In a big day for tech IPOs, software business Asana started trading with shares up about 30% in a direct listing that may excite critics of the traditional “IPO pop.”

Asana’s IPO was dwarfed by Palantir’s, which also went public on Wednesday, hitting a market capitalization of more than $20 billion. The IPO cemented the billionaire status of its cofounder Peter Thiel and CEO Alexander Karp but intensified scrutiny of the company’s practices.

17 years ago, Forbes published the first critical article about Nxivm, the Albany-based self-help group turned cult. On Wednesday, Seagram heiress Clare Bronfman was sentenced to 81 months in prison for crimes she committed while acting as a Nxivm executive board member.

Something else that’s been 17 years in the making is the American Dream mega-mall project. The first group of retail stores is finally opening on October 1.

October 1 also matters to those attending college next year—it’s the day that the Free Application for Federal Student Aid (FAFSA) opens for students planning to attend college during the 2021-22 school year. Here’s what you need to know.

One big financial decision that you shouldn’t rush to make right now is buying a house. Despite very low mortgage rates, this is a sellers’ market—your money could go further if you sit tight in a rental and focus on your savings and investments. 

This advice however does not apply if you’re LeBron James, who solidified his presence in LA with the acquisition of a third property, a $36.8 million Beverly Hills mansion boasting four bedrooms, seven bathrooms, two guesthouses, a tennis court and a movie theater.

Some people are instead looking to move abroad altogether, as indicated by a spike in Google searches about moving to New Zealand and Canada during Tuesday’s debate. Consider adding these countries to your moving list, as they allow Americans to obtain citizenship on the basis of their ancestry. 

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