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You can have a reasonable debate about the best quarterbacks or basketball players in history, but when it comes to Morning Brew giveaways there’s only one GOAT: the MacBook Pro.
We’re going back to our roots and giving away 3 brand new MacBook Pros to Morning Brew readers. To be eligible, all you need to do is share the Brew with friends and you’ll be entered into the raffle.
The giveaway runs through Thursday evening, so start sharing now.
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Nasdaq
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14,840.71
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S&P
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4,422.30
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Dow
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35,144.31
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Bitcoin
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$37,448.99
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10-Year
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1.297%
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Live Nation
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$82.18
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*Stock data as of market close, cryptocurrency data as of 6:00pm ET.
Here's what these numbers mean.
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Markets: Propelled by travel and leisure companies, stocks closed at another record ahead of the biggest earnings day of the quarter. Alphabet, Apple, and Microsoft, collectively worth $6.5 trillion, will report this afternoon.
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Covid: Can we interest you in some good news about Delta? The UK reported its lowest number of new coronavirus cases since July 4 yesterday. After six straight days of declining cases, experts think Britain could be past the peak of its latest wave.
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In the infamous words of Mortal Kombat’s Shang Tsung, it has begun. Vaccine mandates came in fast and furious yesterday as New York City, California, and the Department of Veterans Affairs introduced a choice for employees: join the Moderna Squad or start polishing your resume.
The White House has no plans to introduce vaccine mandates or passports, so it’s been up to cities, states, and private companies to set vaccine requirements. And after lotteries, a plea from Olivia Rodrigo, and countless other encouragements, some leaders are going from good cop to bad cop as the country faces a Delta-led surge.
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A little over a month after fully reopening the city, NYC Mayor Bill de Blasio said yesterday that all Gotham workers (about 340,000 employees) need to be vaccinated or agree to weekly testing by September 13. Covid cases in the city have grown to 800+ per day.
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California Gov. Gavin Newsom quote-tweeted de Blasio’s announcement and said the state will require all 246,000 public employees to get vaxxed or schedule a weekly test date. Slightly over 64% of the state’s residents are partially vaccinated.
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The Department of Veterans Affairs became the first federal agency to require Covid-19 vaccines for its 115,000 healthcare employees yesterday.
American Mandate Association
Even before those announcements, 57 influential medical groups published a letter urging employers to require Covid vaccines for all healthcare personnel.
- While health workers were ushered to the front of the vaccine line as early as December 2020, many did not take advantage of the early access. For example, only 59% of nursing home staff in the US are fully vaxxed, per the CDC.
Bottom line: The FDA hasn’t yet granted full approval for any of the shots, so most companies and government departments hesitated on injection injunctions to avoid legal pushback. That could change now that the mandate floodgates have opened.
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Despite facing supply chain challenges “like the toilet paper shortage, but at epic scale”—in Elon Musk’s words—Tesla scored record profit, revenue, and deliveries last quarter.
Key takeaways:
- Tesla earned $12 billion in revenue, nearly double last year, and profits topped $1 billion for the first time.
- How’s the $1.5 billion investment in bitcoin going? The company reported a $23 million “impairment” related to its bitcoin holdings.
- Due to limited battery cell availability, the company has delayed the launch of Semi, its long-haul truck, to 2022.
While Tesla's quarter was super impressive, anxious investors have focused more on growing competition in the EV industry and increased regulatory scrutiny in China, which is a key market for Tesla. The company’s stock is down nearly 10% this year compared to GM's 38% gain.
EV vibe check: patio szn. Sales of electric vehicles in the US more than doubled in the first half of 2021 compared to last year. Lucid Motors started trading publicly yesterday in the industry's biggest SPAC deal. And Lordstown Motors, which makes electric pickup trucks, raised $400 million in much-needed capital.
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For all you students who’ve complained about after-school tutoring...the Chinese government agrees with you.
Chinese authorities demanded the country's private education sector reduce workloads for students and ordered the overhaul of an industry “hijacked by capital.”
The details: Chinese authorities released a set of regulations over the weekend that would ban companies that teach core school subjects from earning profits, seeking IPOs, or raising money from foreign investors.
Why it matters: China’s education technology sector has ballooned to $100 billion, with about 70% of K-12 students enrolled in after-school tutoring programs in major cities. The government’s announcement gave the burning-hot industry an ice bath:
- New Oriental, one of China’s biggest private education companies, has plunged nearly 70% since last Thursday.
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Larry Chen, the online education mogul who leads the firm Gaotu Techedu, has lost $15 billion in wealth since January as his company’s shares deteriorated.
Bottom line: China’s recent crackdown on its tech and education industries has caused a historic stock market wipeout. Chinese companies listed in the US suffered their biggest two-day drop since 2008.
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SPONSORED BY WEBEX BY CISCO
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There’s fast-paced work environments, and then there’s the blazing-around-a-track-at-200-MPH kind of work environments.
While most of us can’t say our jobs move at the same speed as the McLaren Formula 1 team, there is one thing we do share in common: Hybrid work is here to stay.
McLaren counts on Webex to help keep their foot on the gas in this new hybrid work reality, ensuring real-time communication and seamless collaboration on and off the track.
It’s all made possible with the Webex Suite—a unified experience for calling, meeting, messaging, events, and polling. In other words, you can shift gears about as fast as Lando right up there.
Learn more about how the Webex Suite is driving hybrid work.
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Giphy
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Stat: Uber has saved many lives that would’ve been lost to drunk driving, according to a new study based on internal Uber data. Ride-sharing has decreased alcohol-related US traffic fatalities by 6.1% and reduced overall US traffic deaths by 4%.
Quote: “If you look at cryptocurrencies as a whole, it is a pure trading instrument. There is no inherent worth in it whatsoever. It is a tulip bulb.”
That’s how the CEO of Man Group, the world’s largest listed hedge fund manager, described the firm’s approach to crypto to the Financial Times. But here’s the funny part—Man Group trades crypto for its clients, because, hey, you can make money. Per the FT, that dynamic highlights the “irony of today’s trade in cryptocurrencies: Much of the market action involves participants who doubt their ultimate utility.”
Watch: Fax machines are more clever than you might think. (The Secret Life of Machines)
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Jeopardy Productions Inc.
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This beloved actor, known for his roles on Star Trek: The Next Generation, Roots, and Reading Rainbow, began his weeklong stint as guest host of Jeopardy! last night.
If you answered LeVar Burton you'd be wrong. The correct answer is, "Who is LeVar Burton?"
Burton’s journey to the podium was a little different than the other celebs “trying out” to succeed Alex Trebek at the famous lectern. When Burton made it known he really wanted the gig, fans started a petition that garnered over 250,000 signatures, which caught the eye of the show’s producers.
- While Trebek made hosting the show look easy, apparently it...isn’t. “I’ve jumped out of airplanes. I’ve walked over hot coals. This was a real challenge. First of all, because [Jeopardy!] is singular in the culture and what it means to people as a part of their daily lives,” Burton told the AP.
Other guest hosts have included NFL QB Aaron Rodgers, GOAT Jeopardy! champion Ken Jennings, journalists Katie Couric and Anderson Cooper, and actor Mayim Bialik.
Zoom out: Jeopardy! is one of TV’s most valuable properties, with 38% of viewers watching at least three times a week, writes the WSJ. But viewership is down 10% in the post-Trebek world. Finding the right host is one of the most crucial decisions facing television execs today.
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Jeff Bezos is offering a $2 billion discount to NASA if Blue Origin is awarded a contract for the agency’s lunar landing system. SpaceX won the contract earlier this year.
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President Biden said that some Americans experiencing “long Covid” may qualify for disability resources.
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New home sales fell to their lowest level in 14 months in June, in large part because there aren’t enough homes to buy and that’s been pushing up prices.
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Insurance giants Aon and Willis Towers Watson called off their $30 billion merger due to antitrust scrutiny.
We’re going to add a dedicated Olympics subsection for the next two weeks, because, well, a lot is brewing in Tokyo. Your Olympics links:
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Lydia Jacoby, a 17-year-old from Alaska, took home the gold in the women's 100-meter breaststroke. The only thing more legendary than her upset win was the hometown celebration.
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The Philippines won its first gold medal in almost 100 years thanks to weightlifter Hidilyn Diaz. Bermuda won its first gold medal.
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Russia topped Japan to win the gold medal in men’s team gymnastics. The women's event, featuring Simone Biles and Team USA, is happening this morning.
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Pink offered to pay the fine handed to the Norwegian women’s handball team after they wore shorts instead of bikini bottoms during a game.
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The Brew's Business Olympiad is running this week and next. Follow our Twitter or Instagram to vote on the business world's spiciest competitions.
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Why’s this ad so short? While us talking about Vuori’s Kore shorts—the comfiest lined athletic shorts ever—in a short ad is poetic, we want to go longer. Available in five colors, these babies go from “hot sweat” to “cold beer” effortlessly. 20% off your first order here.*
Who shall sit upon the Chobani® Coffee Creamer throne? Thousands of fans submitted their flavors. The final three have risen. Only one will be crowned the grand-prize winner of the new Chobani® Coffee Creamer flavor. Your vote will decide the victor.*
The KIMONO project: Japan commissioned 213 handmade kimonos inspired by the culture, history, and scenery of each country ahead of the Olympics. They are beautiful.
People being pros: See someone repair a badly damaged watch or make a surfboard.
*This is sponsored advertising content
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Brew Mini: Start your day off with an easy W by solving today's Mini.
Utter Domination
Since three-person archery debuted at the 1988 Olympics, South Korea has won all nine gold medals.
What other countries similarly dominate Olympic events? Well, none, but a few do stand out as particular masters of their craft. We'll give you an event and you have to name the country that's dominated it at recent Olympics.
- Table tennis
- Softball
- Judo
- Artistic swimming (previously known as synchronized swimming)
- Men’s steeplechase
- Boxing
- Men’s water polo
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Apple
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You have to buy them. Online or at an Apple Store. For more than $1,200.
Unless…
You decide to share the Brew with your family, friends, and coworkers this week. In which case you’ll be entered into a raffle to win one of three beautiful laptops (yes, the ones with the new M1 chip).
The details: Each time you refer someone to the Brew, you’ll receive one “ticket” to the raffle. The more people you get to sign up, the better chance you have of winning a laptop.
The giveaway runs through Thursday, but why wait until then?
Start sharing now.
*US winners only. Not affiliated with Apple. For more rules, see terms and conditions here.
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1. Table tennis = China
2. Softball = USA
3. Judo = Japan
4. Artistic swimming = Russia
5. Men’s steeplechase = Kenya
6. Boxing = Cuba
7. Men’s water polo = Hungary
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Business podcasts →