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February 10, 2022
You've got to be kitten me: A Maine family's cat miraculously turned up in Florida after 6 years. Ashes disappeared in 2015 and was assumed to be dead by the family. Then 6 years and 1,500 miles later, the cat returned home after an implanted microchip confirmed her identity. Wow, what a purrfect ending.
Trivia question: What is Africa's most populous country? And why do people there have to pay a full year of rent up front? Find out in today's Wrap.
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Birds... Aren't Real?
Overview
- Spanish police are using drones disguised as birds to combat drug traffickers
- The drones can move at speeds of up to 50 mph (80 kmh) and recognize people on the ground from an altitude of 919 feet (280m)
- The bird drones are equipped with thermal cameras, which the government says will allow them to identify marijuana plantations
- The drones are disguised as falcons to avoid detection. They were initially designed to scare birds away from fishing areas, farms, and airports
DIG DEEPER
Authorities say the drones will go where people can't, including places that are too dangerous or inaccessible. The police plan to use them along the coast in particular, where drug traffickers operate.
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Unicorns Break 1,000
Overview
- For the first time, there are 1,000 "unicorns"
- A unicorn is a privately held startup/company worth $1B+. That valuation is set by how much investors pay for a company's stock during fundraising: If they buy 10% of a company for $100M, its implied value is $1B
- The term emerged ~10 years ago, when billion-dollar startups were rare. Today, they are more common; ~2 companies are minted as new unicorns each day
- Some investors say the startup market is in a bubble. Others say startups are genuinely worth more, because today's tech companies are more profitable than those of the past
DIG DEEPER
Companies used to IPO at much earlier stages. Today, because there is more money (capital) available in private markets, they stay private longer and secure higher valuations before IPOing.
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Disney + Warner to Merge
Overview
- The US government did not object to the merger of Discovery and WarnerMedia, paving the way for another mega media company
- WarnerMedia's holdings include CNN, Cartoon Network, and HBO Max; Discovery's include Discovery+, HGTV, and the Travel Channel
- AT&T currently owns WarnerMedia, but it is spinning the company off into a merged company with Discovery
- Some politicians had asked the Justice Department to oppose the deal over concerns it would create a monopoly, but the department did not object
DIG DEEPER
AT&T purchased WarnerMedia in 2018 for $81B after an extended battle with the US government over antitrust concerns. It won that fight, but is now shedding it to focus on its core telecoms business
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Fauci: Pandemic is Waning
Overview
- Dr. Fauci, the US government's top medical adviser, said the pandemic is winding down
- “We are certainly heading out of” the “full-blown pandemic phase,” he said in an interview Wednesday. He said pandemic restrictions should end “soon”
- “Decisions will increasingly be made on a local level rather than centrally decided or mandated,” he said
- On boosters, Fauci said, “It will depend on who you are...But if you are a normal, healthy 30-year-old person with no underlying conditions, you might need a booster only every 4 or 5 years”
DIG DEEPER
"I hope we are looking at a time when we have enough people vaccinated and enough people with protection from previous infection that the Covid restrictions will soon be a thing of the past," he said. Many US states have dropped mandates and other restrictions this week.
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 What do you think?
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See yesterday's results below the Wrap!
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 Popcorn
Culture & Sports
- Budget impossible: Mission Impossible 7 cost $290M to produce, tens of millions more than expected. Covid upended the production schedule
- NFL commissioner Roger Goodell said the league "fell short" in the hiring of minority coaches but has no current solutions for changing that
- Bob Saget cause of death: The Saget family published a statement saying that the beloved comedian died from head trauma
Business
- All hands on keyboards: Peloton's virtual all-hands meeting to announce the new CEO was cut short as staff vented in the comments
- Facebook and Instagram have become hotspots for counterfeit luxury goods as sellers hijack brands like Louis Vuitton and Gucci
- My precious... IP: The Lord of the Rings and The Hobbit film, gaming, and merchandising rights are going up for sale (expected ~$2B tag)
Wildcard
- An NFT auction raised $52M for WikiLeaks founder Julian Assange as he battles extradition from Britain to the US
- Medal drought finally over! Snowboarder Lindsey Jacobellis won the snowboard cross, giving Team USA its first gold in Beijing
- Adidas raised eyebrows Wednesday when it posted 25 pairs of bare breasts on Twitter and Instagram to plug its new bra collection
- The Futurama is now: Hulu has finalized deals for 20 new episodes of cult animated sci-fi comedy Futurama to premiere in 2023
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― Roca Wrap
A Newsletter Exclusive
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Already Africa’s most populous country, Nigeria, population 206M, is projected to double in size by 2050. Its cities have grown by 50% in the last decade. Lagos, its largest city (pop. 23M), may be the world’s most populous within several decades.
The fast-growing population means that landlords have it good. So, when people in Nigeria sign a lease, landlords often require tenants to pay the entire year’s rent up-front.
That’s a problem for most Nigerians, whose annual incomes are generally well below $2,000. In Lagos’ main business district, the up-front payment for a 2-bedroom apartment is typically between $11k and $22k a year. In cheaper areas of the city, it often ranges from $500 to $5k.
To cover the costs, many people go into debt, share flats, or move outside the city, where housing is more affordable.
But now, the government wants to crack down on the tradition.
In the capital, Abuja, the local government wants to ban up-front rent payments outright; the government in Lagos plans to pay landlords the annual rent up-front, then have tenants repay the government in monthly installments.
Many renters celebrate the moves: The up-front rent can cost people years of savings and put them deep into debt. “Everyone becomes broke after paying for the first year's rent,” one resident, who earns $2700 a year, told the BBC.
But others oppose them. Landlords argue the yearly payment reduces the chances of default, giving them financial security. Some say it helps renters budget for the rest of the year. Nigeria, more than other countries, also has a norm of up-front payment. People pay for everything from cars, to phones and school in advance.
The Lagos government hopes the rental assistance plan will change that mindset, and get landlords to accept monthly rents in the future. If renters can spread payments, they may be able to build more wealth.
Landlords, though, have little incentive to change their behavior: In cities where the population is growing by thousands daily, housing demand far outstrips supply. Landlords see rental houses as a seller’s market.
There’s also the question of whether anyone will even listen to the laws. Nigeria is a notoriously corrupt country, much of which is lawless. If politicians are stealing from the people, why would landlords follow their laws?
Time will tell if it becomes easier to rent in Africa’s most populous country. For now, though, one Nigerian tells the BBC something is certain: In Nigeria, “[housing] is gold.”
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If you have thoughts, let us know at Max@RocaNews.com!
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 Games
You say hello, I say bonjour. Below are the words for "hello" in 4 different languages. Can you name each?
- Salve
- Nǐn hǎo
- Guten tag
- Zdravstvuyte
Find out the answer at the bottom of Roca Clubhouse.
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 Roca Clubhouse
Yesterday's Poll:
Which action movie series is better?
Jason Bourne: 69.6%
Mission Impossible: 30.4%
Yesterday's Question:
How do you feel about sports gambling?
Rachel from Texas: "My opinion is that it’s a form of entertainment that’s fun for some and dangerous for others (those prone to addiction). People spend money for all kinds of entertainment, betting on sports is another option."
Steve from Scottsdale: "Sports gambling is a great entertaining avenue, but it can also be a horrible vice. I would say that those that truly want to bet sports will find a way to do so legally or illegally, so better for us to be able to regulate it fairly and avoid any sort of nefarious activity."
General Feedback:
Tomas: "Bruh, I just wanted to say man, ain't no way only 29% of us chose Dunkin over Starbucks. Like, seriously, what's better than a good donut and a medium iced coffee from Dunkin, because it sure as hell ain't them cupcakes and that bubble tea from Starbucks. This is personal man, I'm sorry."
Joe from Atlanta: "While Eric Adams certainly has his faults, he's not far off about comparing cheese to heroin with a dopamine response.... however I'm PRETTY sure you could tell the difference between a cheese addict and a heroin addict."
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20 Questions: 16-20
Every Friday, we ask the Roca Riders 20 questions and feature a few of our favorite answers. Last Friday, we did our second-ever "This or That" 20 Questions. Here is the breakdown of your preferences....
16. Pet hamster or iguana?
Hamster: 53%
Iguana: 47%
17. Shooting a gun or throwing an axe?
Shooting a gun: 58%
Throwing an axe: 42%
18. US national anthem or Party in the USA?
US National Anthem: 44%
Party in the USA: 56%
19. $50 in Amazon gift cards or $40 cash?
$50 Amazon: 43%
$40 cash: 57%
20. Chuck Norris or Keanu Reeves?
Chuck Norris: 22%
Keanu Reeves: 78%
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Games Answer(s):
1. Italian 2. Chinese 3. German 4. Russian
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― Final Thoughts
Happy Thursday, Riders. Our full team will be gathering at our office today to eat tacos, have drinks, and discuss the future of news. If you have suggestions, please send them our way!
Enjoy almost Friday.
-Max and Max
Today's Instagram Wrap is the long-awaited part 3 of our 3-part series on Joe Rogan. It breaks down the current Rogan controversy.
Thanks for reading! See you again tomorrow!
As always, send thoughts and feedback to Max@Rocanews.com |
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