| Good morning. We want to give a warm welcome to the talented Matty Merritt, the newest member of the Brew's writing team. Not sure why we collectively decided on the Ides of March as a start date, but it's time to rebrand that holiday into something a little more festive anyway. | | | |  | NASDAQ | 13,319.86 | + 3.35% | | | | S&P | 3,943.34 | + 4.99% | | | | DOW | 32,778.64 | + 7.10% | |  | GOLD | 1,725.80 | - 9.24% | | | | 10-YR | 1.629% | + 71.00 bps | | | | OIL | 65.56 | + 35.40% | | | *As of market close. Here's what these numbers mean. | - Markets: Energy has recently replaced tech as the mitochondria of the S&P 500. The sector has gained 80% since early November, fueled by a rebound in the price of crude oil.
- Covid: Yesterday, the Biden administration reported that 27% of US adults had their first vaccine shot and 15% are fully vaccinated. Some all-star states, including Alaska, Massachusetts, and the Dakotas, have given first shots to > 25% of their populations.
| |  Know Your Meme | You've probably been hearing the words "mania" or "craze" a lot recently when reading about the markets. Sorry—just doing our jobs. As Erin Griffith wrote in the NYT this weekend, investments in nontraditional corners of the finance industry all seem to be doing this  at the very same time. A short list Crypto: Last March, bitcoin was hovering just above $5,000; on Saturday, it hit an all-time high above $61,000. And dogecoin, a crypto that's based on a meme, has increased more than 1,100% this year. NFTs: Non-fungible tokens leverage blockchain technology to let anyone buy an "original copy" of a piece of the internet. Last week, a JPG file sold for $69.3 million at Christie's and bids for Jack Dorsey's OG tweet hit $2.5 million. Trading cards: Seven of the 10 most expensive sports trading cards in history have been sold in the past eight months, per Axios Sports. In January, someone bought a 1952 Topps Mickey Mantle for $5.2 million, the highest ever. SPACs: The use of special purpose acquisition companies to take startups public has hit astronomical levels. Of the 302 IPOs so far this year, 80% are SPACs. Sneakers: Last May and June, the e-commerce platform StockX had its busiest two months since its 2016 launch thanks to exploding interest in the sneaker resale market. Are they connected? Griffith thinks so. She argues that the pandemic—which wiped calendars clean, boosted many Americans' savings, and made traditional assets like stocks and bonds unattractive—drove bored people to seek out more stimulating (and speculative) ways of deploying their cash. - Plus, it's not like any of the "crazes" described above are that new. SPACs have been around for decades, sneaker-flipping dates back to 1985, and trading cards, well…you get the point. Even NFTs were being developed as early as 2017.
Zoom out: No one knows exactly if/when any of these "mini-bubbles'' will pop but, at least in the SPAC world, some think it might be soon. The amount wagered on SPACs to fall in value has tripled since the start of the year, per the WSJ. | | ![A gif from an SNL spoof of Drake's]() Giphy | Adults across the country broke out a rusty Macarena this weekend after seeing the first round of payments under President Biden's stimulus package land in their bank accounts. In the coming weeks, the remaining checks, worth up to $1,400/person, will arrive via deposit, check, or debit card. The IRS told H&R Block that most eligible Americans will receive theirs on Wednesday. Who's eligible? Individuals who earn up to $75,000 and couples who earn $150,000 qualify for full payments. The bill expanded the types of dependents eligible to receive a check to include college students, adults with disabilities, and parents or grandparents. The bill also phases out more quickly compared to December's round of payments, so individuals who earn $80k+ and couples who earn $160k+ won't get a check. The Institute on Taxation and Economic Policy estimates that 8 million fewer people qualify this time. + If you're eligible, use the IRS's Get My Payment tool to see when your check is coming. | |  Robert Gauthier/LA Times via Getty Images | Last night's 63rd annual Grammy Awards were big for Megan Thee Stallion (best new artist), Billie Eilish (record of the year), and the roughly 60% of the song "WAP" that was allowed to be performed on broadcast television. Plus, history was made: After collecting four new awards for a lifetime total of 28, Beyoncé is now the most decorated artist in Grammy history. The ceremony also paid tribute to independent music venues hurt by the pandemic, featuring bartenders, box-office managers, and other industry workers from iconic venues like Nashville's Station Inn and NYC's Apollo Theater. Even with vaccines, their situation is grim. The National Independent Venue Association, which has successfully lobbied the federal government for billions in aid, told USA Today, "We were the first to close. We will be the last to open." To make ends meet during the pandemic, some venues have gotten creative, moving performances to outdoor spaces like rooftops, parking lots, and drive-ins. Others have supplemented lost revenue with merchandise sales and online crowdfunding. Zoom out: The loss of beloved entertainment venues not only hurts owners and workers, but the up-and-coming talent they incubate and the local communities whose economies they support. | |  | We're not talking about you (although judging by your taste in newsletters, you must be a catch). We're talking about all of the aesthetically pleasing, sleek forms you can make using Typeform. With splashy backgrounds, engaging videos, and high-def photos, Typeform's UI brings forms to life in a personalized way that feels like a conversation and less like time spent looking at a screen. And when folks have a good time flowing through your terrific Typeform, you receive better results. Their forms and surveys keep your audience engaged, so you get more thoughtful responses and higher completion rates. Plus, it's all code-free. Typeform lets you create everything from forms and surveys to quizzes and order forms, all without needing to hire a developer. Typeform is free to use, but through April 30, readers can get 30% off premium yearly plans with code MORNINGBREW30. Get started with Typeform today. | |  Prakash Singh/Getty Images | Stat: On Friday, TSA screened the most passengers (almost 1.4 million) since March 15 of last year. Quote: "We're seeing too much spring break activity." Miami Beach Mayor Dan Gelber provided some anecdotal evidence on CNN to back up the stat. Read: How much bitcoin should you own? Here's a mathematical answer. (Kiplinger) | |  Scott Olson/Getty Images | Fed meeting: On Wednesday, the Fed will release its policy statement and Chair Jerome Powell will take questions following the central bank's two-day meeting. Powell has repeatedly said he's not worried about too-hot economic growth leading to inflation, but the bond market, where yields have been gaining, is sending a different signal. Oscar noms: We'll find out the nominations for the (very delayed) Academy Awards this morning. For best picture, Nomadland, The Trial of the Chicago 7, Promising Young Woman, Minari, and Mank appear to be locks. March Madness: The first round of the men's NCAA basketball tournament begins on Friday, instead of the typical Thursday (even better excuse to call in sick). The entire tournament is taking place in Indiana this year. Here's the bracket. Everything else: - St. Patrick's Day is on Wednesday. As you can see above, Chicago is ready to celebrate.
- The four-hour "Snyder Cut" of the 2017 film Justice League is coming to HBO Max on Thursday.
- Saturday marks the official start of spring.
| | - The payments company Stripe raised $600 million at a $95 billion valuation. It's now the most valuable private company ever hatched in Silicon Valley.
- Apple is discontinuing its original HomePod speaker and will instead focus on the mini version.
- Italy will put a majority of its residents into hard lockdown today as it battles a third Covid wave.
- Drew Brees retired as the NFL's all-time leader in career passing yards. We're expecting big things in the business world from Brees, who will reportedly head to the broadcast booth for NBC Sports.
| | | Is day trading too volatile? If you too think time in the market outweighs timing the market, M1 is the finance app for you. With M1, you're the boss of your money. Invest, borrow, and spend all in one place—that's M1.* The greatest peace of mind you can find. SimpliSafe protects your entire home against intruders, fires, water damage, and more. Their professionals monitor 24/7, ready to dispatch help when you need it. Set up SimpliSafe in just 30 minutes today.* Meaningless English: These AI-generated words will not help you win Scrabble, but could help you fill out that secret language you started in fifth grade. Dive back into the week: *This is sponsored advertising content | |  Francis Scialabba | The Brew's Greatest Product of All Time tournament got off to a scintillating start last week. Here's a quick catch-up. Cinderella story: #14 air fryer toppled #3 TikTok in the Innovators region. Next up? A tussle with the Nike Air Jordan 1 for a spot in the Sweet 16. Most exciting region: The Legends bracket is living up to its name. Second-round matchups include Coke vs. Bud Light, Nintendo 64 vs. the Big Mac, and Boeing 747 vs. Monopoly. Upset watch: #2 Netflix is going into hostile territory as it takes on #7 Twitter (where the tournament is taking place). Don't worry if you missed the action last week. The second round is happening today and you can vote on who should make it into the Sweet 16 on our Twitter account. Polls open at 9am ET. | | | One movie was re-released in China this weekend, which allowed it to overtake Avengers: Endgame as the highest-grossing film of all time. Which is it? | | | You only need 5 more referrals to receive Morning Brew stickers. If there's one thing we know about laptops, it's that they hate being naked. Get your comp some fresh Morning Brew stickers. 
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morningbrew.com/daily/r/?kid=8386977e | | | Avatar. DYK: There are four more Avatar movies in development; the fifth film in the series is scheduled to arrive in theaters Dec. 17, 2027. | | | Written by Alex Hickey and Neal Freyman Was this email forwarded to you? Sign up here. | ADVERTISE // CAREERS // SHOP
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