ADVERTISING

Google Keeps Its Hand Out of the Cookie Jar

Yesterday, Google announced the biggest shakeup in advertising strategy since Verizon's "can you hear me now" guy joined Sprint. 

First, it confirmed that it plans to phase out the practice of letting companies track users across the web using cookies by next year. Then, it pinky promised not to create an equally invasive workaround despite the potential hit to its money-printing advertising businesses. 

Why it’s a big deal: Cookies are little crumbs of digital information that companies, advertisers, and websites have used to track your movement across the web. To a certain extent, the modern advertising businesses of internet giants like Google and Facebook are built on the buttery backs of cookies.

But in recent years, browsers including Safari and Firefox have restricted the use of cookies out of growing concern over user privacy. Google’s uber-popular web browser, Chrome, was one of the last major browsers to still support the practice. But now that Chrome (with its 60% market share) is phasing out cookies for good, the one-time tracking snack of choice is heading down the garbage disposal. 

You’re still going to get targeted ads

But the mechanisms that power them are changing. Currently, using cookies, Google can see that a user was shopping for a new golf bag on Amazon, then later serve them a Callaway ad next to a Golf.com article. This online Sherlock Holmes-ing is the reason why it can feel like a product is following you around the internet. 

Now, through a program called “Privacy Sandbox,” Google is testing a way for companies to target ads to groups of users with similar interests instead of directly to individuals. That way, businesses can still serve targeted ads, but your specific user data is a little more private since Google is essentially hiding it in a crowd. 

Zoom out: One of the biggest challenges of phasing out third-party cookies was finding a suitable replacement for them. Yesterday’s announcement shows that Google feels comfortable enough with the new castles it’s building in Privacy Sandbox to destroy the old ones.  

COVID-19

Texas Secedes From Covid Restrictions: Now What?

On Tuesday, Texas Governor Greg Abbott scrapped the state’s mask mandate and said that businesses of any kind would be allowed to operate at full capacity beginning March 10—next Wednesday. The fallout is splitting the Texas business community like burnt orange versus maroon and white barbecue. 

• Retailers including gym operator Life Time Fitness, grocer Albertsons, and some local restaurants have dropped mask requirements, plan to return to normal capacity, or both. 
• Others, including Hyatt, Target, Starbucks, and CVS, say they’ll keep mask requirements in place. 

Many health experts argue the moves could lead to a resurgence of the virus, and some business owners say they’re worried because the statewide mask mandate gave them cover when dealing with mask-resistant customers. But especially hard-hit sectors such as gyms and food services are desperate for normal operations to resume. 

Zoom out: In the last week, other governors have also said they'll ease restrictions, including in Mississippi, Iowa, and Montana. 

ENERGY

Time to Clear the Air

In the energy biz, attention is turning toward an expensive but enticing way to reduce emissions: carbon capture, a process where pollution is...captured, then stored underground. 

Industry giant Exxon Mobil said yesterday it plans to increase investment in carbon capture tech, which it pegs to be a $2 trillion market by 2040. Exxon Mobil has, up until now, resisted carbon capture, but it's recently come under pressure by an activist investor to reduce its CO2 output. 

• Axios notes that, despite emission-reducing initiatives, fossil fuels remain the meat and potatoes of Exxon’s and other oil majors’ operations. 

Newly minted US Energy Secretary Jennifer Granholm also delivered a tough-love message to fossil fuel companies in her first official speech yesterday, emphasizing that a transition to clean energy will happen come hell or high water—because climate scientists predict both. The Biden administration aims to purge all carbon emissions from the economy by 2050. 

Zoom out: Last month, Elon Musk launched a contest to identify promising carbon-capture projects, offering a $100 million prize for the best.

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Start investing with DiversyFund today. 

GRAB BAG

Key Performance Indicators

Quote: “We’re losing people to Tampa?”

NYC mayoral candidate Andrew Yang told Bloomberg he was depressed after learning that Goldman Sachs was opening up a branch down in Tampa. If it feels any better, Mr. Yang, Bill Belichick said the same thing last year.  

Stat: The NBA’s Minnesota Timberwolves have the worst winning percentage in the history of US sports, according to calculations from the Reddit user u/TheRatPatrol. The Timberwolves winning percentage dropped to 0.393 this week, falling below the Tampa Bay Buccaneers (whose win-loss record is 278-429-1) as the most unsuccessful active sports franchise in the country.

Read: How to build an artificial heart. (The New Yorker)

MEDIA

Netflix Goes Vertical

In the all-out war for your eyeballs and thumbs, Netflix just brought in some surprise reinforcements. Yesterday, the streaming giant launched “Fast Laughs,” a TikTok-esque mobile feature that allows iOS users in some countries to scroll through comedy-focused short clips of Netflix shows. 

• For example: Fast Laughs might surface a funny scene from Big Mouth. The clip serves the purpose of 1) being entertaining to watch and 2) reminding you that you might not have finished the first season because watching with your parents was getting a little uncomfortable, but now you're ready to dive back in.

And Netflix makes the diving-back-in very easy. Fast Laughs users can send the clip to their friends, add the show to a watch list, or, most importantly, start watching a full episode immediately. 

Bottom line: Netflix isn’t trying to create the next Ocean Spray-skateboarder moment. But it does want to convince users to spend more time on its app by giving them something different and “Netflix-y” to scroll through on their phones. 

WHAT ELSE IS BREWING

• NY Gov. Andrew Cuomo said he plans to remain in office following multiple allegations of sexual harassment. “I now understand that I acted in a way that made people feel uncomfortable,” he said.
• US infrastructure earned a C- grade from the American Society of Civil Engineers. Hey, at least that’s better than the D+ in 2017.
• SpaceX's Starship prototype stuck the landing in its third flight test...but then blew up while sitting on the landing pad a few minutes later.
• Facebook is lifting its ban on political advertising today.
• Amazon is in talks with the NFL to air a "significant number" of Thursday night games exclusively on Prime Video, per the WSJ.
• Alamo Drafthouse, the movie theater chain known for its dine-in service, filed for bankruptcy.

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FROM THE CREW

What Makes the Brew Crew This Happy?

Giving back. Specifically, spending a virtual week with some brilliant high school students to show them what a career in media can look like (see above) and how to build a successful product.

If your company is interested in meeting the next generation of business leaders (and maybe even inspiring them to come work with you), check out SuitUp. The Brew recently partnered with the nonprofit on a week-long mentorship program and business case competition, and all our volunteers and students walked away having learned something. 

Learn more about SuitUp here. 

GAMES

Three Headlines and a Lie

Like Salvador Dalí, our headline quiz specializes in serving up the surreal. Let’s put your grasp of reality to the test: Three of the following news headlines are real, but one is made up. Can you spot the fake? 

1. "Easter Peeps from thirteen years ago found for sale in Iowa grocery store"
2. "Surly seal spotted on Charlottetown sidewalk apprehended by police"
3. "Reese’s is launching a new all-peanut butter cup"
4. "A 'space hurricane' hovered above the North Pole for about 8 hours, study says"

ANSWER

We made up the Peeps one.