COVID

Covid Dines and Dashes

Considering we can't even keep track of our wallets, it's not particularly surprising humans have struggled to understand how an invisible menace like the coronavirus spreads across the population.

But a study published yesterday in Nature offers new clues about Covid-19's favorite places to jump hosts.

The main takeaways

1. Indoor spaces = the most risky. Crowded indoor venues, such as restaurants, gyms, and cafes, accounted for the majority of the transmission. Of those, restaurants were by far the riskiest place for infections (4x more dangerous than gyms and coffee shops), the report's senior author, Jure Leskovec, told reporters. 
2. The class divide: People who live in lower-income areas were also more likely to be infected with Covid-19, according to the research. Not only were they less likely to work from home, but also the indoor venues they visited were more crowded. For example, the average grocery store in poorer neighborhoods had 59% more hourly visitors per sq. ft. than locations in more affluent areas. 

Quick note on methodology: Using anonymized smartphone data, the researchers tracked the movements of 98 million people in 10 U.S. metros from March to May—the first wave of the virus. They superimposed this data on top of Covid-19 case numbers to create a model that simulated coronavirus infections. 

Why the study matters

Because it can inform how leaders confront the recent surge in cases, which are now well above 100,000/day in the U.S. Should we lock it all down again? 

These researchers argue that probably won't be necessary, because limiting capacity at indoor venues can meaningfully contain the spread of the virus—when paired with critical precautions like social distancing and wearing masks. 

• In the Chicago area, limiting capacity at 20% cut down predicted new infections by more than 80%.
• On the other hand, reopening indoor businesses at full capacity = recipe for superspreading. 

Bottom line: While these researchers call for a nuanced approach to reopening the economy, public officials may find it easier to wield a blunt instrument. NYC Mayor Bill de Blasio warned of "a lot more restrictions" in the event of a second wave. 

TECH

Macs and Their Chips Think the Same Now

Yesterday, Apple ended a 15-year relationship the way any rational person would: with a press conference. In a virtual event called "One More Thing," the tech giant released its latest slate of Mac computers featuring the M1 chips it created in-house—a major departure from tapping Intel for chips, which Apple had done since 2005. 

Big picture: CEO Tim Cook has been steering the ship toward the Isle of Homemade Chips for years; the company poured over a decade of R&D and at least $1 billion in acquisitions into the effort. The M1 is more like the chips that power the iPhone than previous versions, which means apps developed for iPhones can now be used on Macs. 

Now for the fun, shiny things: The new hardware includes a super-thin MacBook Air, a new MacBook Pro with juiced-up battery life, and a Mac Mini desktop. 

• The new Big Sur OS also drops today.

Now for the fun, giggly things: Actor/comedian/national treasure John Hodgman returned to his role as a PC in a skit made specially for the announcement. 

RETAIL

Single and Ready to Mingle Spend All Our Money

As you read this, legions of shoppers are breaking out their Alipay wallet to participate in the world's biggest shopping event: Singles Day.

The annual Chinese shopping event features discounts on everything from robot vacuums to real estate and includes "shoppertainment," such as a gala with celeb performances, livestreamed sales, and online games.

• Singles Day was created by Alibaba execs Jack Ma and Daniel Zhang as a foil to Valentine's Day. The date 11/11 was picked because it looks like "bare branches"—single and unattached. We feel even lonelier now. 

Alibaba kicked sales off a little early this year, and as of 12:30am local time, consumers spent $56.3 billion on its Taobao and Tmall e-commerce platforms. To move all that product around, Alibaba's logistics arm has prepped 3,000 chartered flights and cargo ships, 3 million logistics workers, and 10,000 mobile lockers. 

Big picture: The pandemic pushed more Chinese consumers to e-commerce, and Singles Day will provide more intel on the health of the Chinese economy. Given travel restrictions, imports and foreign luxury products are expected to perform well. 

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ECONOMY

Remember This Person

It's Lael Brainard, a Fed governor and rumored frontrunner to become Joe Biden's Treasury secretary pick. 

Highlights from a lengthy résumé: Harvard PhD, adviser to President Clinton, Brookings fellow, and a couple Treasury roles under Obama, including as the department's top global diplomat. She joined the Federal Reserve in 2014 and recently helped implement its emergency lending program.

While Brainard has won praise from the left for resisting banking regulation rollbacks, she's largely viewed as a moderate pick. And that might be key to getting her through Senate confirmation: "She doesn't upset anyone too much," Politico reports. 

If picked...Brainard would be the first woman to head the Treasury. As top economic advisor to the president, she'd be responsible for steering the U.S. out of a recession, crafting a new stimulus deal, and bumping elbows with her old desk buddy, Fed Chair Jerome Powell. 

• Her departure would leave the Fed's board, already two members short, with just four governors—all Republican. 

If she isn't...other folks reportedly under consideration include Ariel Investments co-CEO Mellody Hobson, Atlanta Fed President Raphael Bostic, and Powell's predecessor, Janet Yellen. 

STARTUPS

Hopin Loser, We’re Raising Money

Yesterday, virtual events startup Hopin announced it raised $125 million at a valuation of more than $2 billion. 

The backstory: Londoner Johnny Boufarhat was homebound for two years after falling sick. As we've all learned recently, Netflix can only sustain you for so long, and he was itching for a way to network online. So last year, he launched Hopin, which recreates almost every part of an in-person event, from Twitch-like keynote presentations to Chatroulette-like networking functions. 

Then Covid-19 arrived and so did blazing-fast growth. Catapulted by social distancing mandates, Hopin went from four employees at the beginning of 2020 to over 200 now and it’s targeting 800 in 2021. 

• Hopin also says it's profitable, with annual recurring revenue of $20 million. Users? Over 3.5 million. 
• Those metrics make it one of the fastest-growing startups ever. 

Looking ahead...with Monday's encouraging news about a potential Covid-19 vaccine, it's possible live events will return sooner than we thought. But Hopin's betting it can find a foothold in a post-Covid economy with "hybrid" events. 

WHAT ELSE IS BREWING

• The European Commission filed antitrust charges against Amazon, alleging it unfairly wields its dual role as e-commerce platform and e-commerce retailer. 
• The U.S. Supreme Court seemed to indicate it wouldn't strike down the Affordable Care Act as the law faces its third major legal battle. 
• Uber's new feature will let you reserve rides up to 30 days in advance and pick your favorite driver. 
• Ulta Beauty inked a bigtime deal with Target to open stores inside Target locations.
• Spotify is making another pod purchase—ad platform Megaphone for $235 million.

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BREW'S BETS

Branding fails: Some of these will bring back memories, like the Pontiac Aztek and the Tropicana redesign. 

ICYMI: A crazy hole-in-one during practice at The Masters yesterday. Cannot wait for Thursday. 

Run it: Turn running into a high-stakes game by downloading Runtastic, Zombies, Run!, or (you know this one) Pokémon Go. And keep an eye out for a new app that lets you pose as an undercover CIA agent, currently testing in Singapore.

Movers and shakers: Emmy-winning journalist Carlos Watson chats with change-makers ranging from Andrew Yang to Ava DuVernay on his podcast/YouTube show. Watch or listen today. 

GAMES

Flag Trivia

These are the new Norweigan passports, developed by the design studio Neue. Why are we showing them to you? Because a) they are undeniably hot and b) it offers a segue to a trivia question.

Which is this: The exteriors of the new Norweigan passport are red, white, and blue to reflect the colors of Norway’s flag. Which of the following flags is not red, white, and blue? 

1. Israel
2. United Kingdom
3. Russia
4. Nepal 

ANSWER

Israel's flag is just blue and white.