WeWork’s $1.5 Billion Path To IPO | Fair Pay For Women’s Soccer | Jay-Z’s Ace Deal

Plus: How Investors Can Play The One Clear Winner From Texas’ Electric Grid Collapse: Battery Storage

Good morning.

The WeWork saga continues as Softbank keeps negotiating a path to take the company public. We also take a deep dive into what fair pay for women’s soccer players really means, and at Jay-Z playing an ace card and getting into business with LVMH.

In The News Today

Softbank is reportedly discussing paying $1.5 billion to buy out the shares of WeWork’s early employees—including cofounder Adam Neumann—in a new attempt to bring the company public.

The National Transportation Safety Board pointed to metal fatigue as the likely explanation for the Boeing 777 engine breaking apart mid-flight.

Top Take-Aways

This is a crucial week for the $1.9 trillion stimulus bill as it moves from the House Budget Committee to the House floor for a vote at the end of the week. Here are the key dates in the journey for those interested in following it.

Electric vehicle startup Lucid Motors will merge with NYSE-listed special purpose acquisition corporation Churchill Capital IV in a deal that could be worth an estimated $24 billion, just ahead of the planned release of premium electric sedan Lucid Air.

In more SPAC news, chewing gum heir Beau Wrigley is taking his Parallel cannabis company public in Canada via a merger with Ceres Acquisition Corp., a special purpose acquisition company backed by music industry entrepreneur Scooter Braun, at a $1.8 billion valuation.

Facebook promised to crack down on misinformation using moderators and artificial intelligence, but one hashtag on its own site and another on Instagram that were linked to conspiracy theory groups were only blocked this month after Forbes flagged them.

Calls for equal pay in women’s soccer barely scratch the surface of deeper, more complex structural issues that put women athletes at a disadvantage. As UNSWT World Cup winner Alyssa Naeher tells contributor Josie Cox, “There’s far more to it than just comparing numbers.”

Billionaire rapper Jay-Z has sold 50% of his Champagne house, Armand de Brignac—popularly known as ‘Ace of Spades’ for its vibrant metallic bottles—to French conglomerate LVMH. Contributor Elva Ramirez explains why it’s actually a good time to invest in bubbles. 

Hyperice’s hand-held percussive massage device is already a regular presence at NBA games, as part of the company’s partnership with the league. The recovery technology firm will now be a team sponsor too, having signed a multi-year deal with reigning champions LA Lakers.

Today's Must Read

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Bill Gates spotlighted his investment in Canadian company CarbonCure Technologies in his interview with CBS’s 60 Minutes last week. Gates isn’t the only investor in the cleantech company—a new European fund aiming to find tech solutions to real estate’s sustainability issues picked CarbonCure as its first investment. 

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