| Good morning. If you're feeling a bit under the weather this morning after bottomless margaritas, just hit your boss with the classic 2021 excuse: "Got my second shot." | | | |  | Nasdaq | 13,582.43 | | |  | S&P | 4,167.59 | | | | | Dow | 34,230.34 | | | | | Bitcoin | $56,917.71 | | | | | 10-Year | 1.576% | | | | | Under Armour | $21.13 | | | | *Stock data as of market close, cryptocurrency data as of 5:00pm ET. Here's what these numbers mean. | - Markets: Stocks bounced back yesterday and the Dow hit an all-time high. Shares in Under Armour gained when the retailer, which had been languishing in apparel no-man's-land, showed signs of life in Q1.
- Covid: The Biden administration said it supports waiving intellectual property protections for Covid-19 vaccines in order to get more doses to more people around the world. This will be a big point of discussion in upcoming World Trade Organization meetings.
| |  Francis Scialabba | And ruled that the former president's account won't see the light of Facebook or Insta Feeds for at least another six months. Yesterday, the Facebook Oversight Board concluded that Trump's repeated posting about voter fraud resulted in "a clear, immediate risk of harm" and legitimized the violent actions of Capitol rioters on January 6. - Facebook, Twitter, Snapchat, and Twitch all indefinitely kicked Trump off their platforms in the weeks following the riots.
As expected, the decision was more divisive than a half-pineapple, half-olive pizza. Two responses: - Trump said in a statement, "What Facebook, Twitter, and Google have done is a total disgrace and an embarrassment to our Country."
- House Minority Leader Kevin McCarthy tweeted, "Facebook is more interested in acting like a Democrat Super PAC than a platform for free speech and open debate."
The crux of the debate? Whether social media platforms are inhibiting free speech or, like a steakhouse with a no-tie policy, have the right to refuse service. The reason social media platforms can go the latter route without fear of being sued by disgruntled users boils down to a piece of legislation: Section 230, which is looking a little weathered 25 years after being introduced. Calls to revise it have intensified as platforms ramp up moderation and kick off users they consider bad actors. Facebook's response: the Oversight Board First conceived in a 2018 blog post by CEO Mark Zuckerberg and formed a year later, the Oversight Board is meant to be a neutral third party that deliberates user-related gripes—in this case, Trump's appeal to be unbanned from Facebook properties. - The group currently consists of 20 members who a) aren't affiliated with Facebook and b) are considered experts in areas like law, ethics, free speech, and journalism. Several professors, a Nobel Peace Prize laureate, and a former prime minister are all on the roster.
Looking ahead...Facebook handed the Oversight Board the Draw 25 card that is deciding Trump's ban, and the Oversight Board slapped down a Reverse: It has tasked Facebook with clearing up its convoluted rules around handling prominent users like Trump. Co-chairman Michael McConnell said Facebook must restore Trump's account, ban him permanently, or put a time limit on his suspension. | | | Time to find a new clothes hanger other than your $4,300 Peloton treadmill. Yesterday, Peloton recalled its treadmills due to safety concerns and apologized for not doing so sooner. The company will stop selling new treadmills and provide full refunds to customers who return theirs. What happened? Outside of the misery they're supposed to inflict, Peloton's Tread and higher-end Tread+ have been the subject of recent safety complaints. In April, regulators told consumers to avoid using the Tread+ around fur and human children following several dozen incidents, including the death of a child. - Unlike most treadmills, Peloton's machines use a belt with interlocked rubberized slats. They also have a larger gap between the belt and floor, plus no rear guard.
Zoom out: Peloton is having trouble following up a blockbuster 2020. Shares fell 15% yesterday for a 43% year-to-date decline. The company reports earnings today, and this recall could affect projections: Treadmills account for ~12% of revenue, and there are over 125k Tread+ units across the US now available for recall. | |  Dimitrios Kambouris/Getty Images | Yesterday, shares in Jessica Alba's consumer goods brand popped 44% in its IPO, lofting the company to a $2.7 billion valuation. Alba's second act The Honest Company, known for its eco-friendly and nontoxic household and baby products, launched in 2012 and grew rapidly. By 2015, it was valued at $1.7 billion, sparking talk of an IPO or an acquisition. But concerns about Honest's products started piling on shortly after. The company was hit with three lawsuits in 2016, including one it settled for $7.4 million over allegations it misrepresented some products as being natural, plant-based, or chemical-free. In 2017, the company recalled baby powder and wipes. Sales slowed, and Honest lost its unicorn status. But unlike Honey, Alba's company got better with age. In 2020, a very good year if you made cleaning products, sales grew 28% to $300+ million. Zoom out: Many celebs try leveraging their star power into a brand. Alba's been more successful than most, and now joins a very short list of Latina founders who've taken their companies public. | | SPONSORED BY THE MOTLEY FOOL |  | As peeks go, this one ranks up there with an Oscar envelope or a significant other's texts. The Motley Fool is offering the best kind of peek (a sneak one) at its flagship service, Motley Fool Stock Advisor, with this free 5 Stocks Under $50 Report. Why give away stock picks for free? Because The Motley Fool believes investing should be easy, and not just for traditional finance folks. You shouldn't have to have a finance degree or—gasp—own a sleeveless vest to turn your money into more money. Motley Fool Stock Advisor's 750,000+ existing members get two new stock picks every month, and its recommendations have outperformed the market five to one. This report includes five stocks that The Motley Fool's analyst team believes are great peeks—er, investment opportunities. Plus, they're all less than $49/share. Sneak this peek. Get The Motley Fool's free report here. [Returns as of 4/19/2021] | |  Giphy | Stat: 44% of the New York Times's new digital subscribers last quarter came from its cooking, games, and audio products. Quote: "The CDC order must be set aside." A federal judge struck down the national eviction moratorium that President Trump first signed in September and was extended (twice) through this June. Overturning the ban would be a big win for landlords who haven't been able to collect rent, but the DOJ will appeal the decision. Nearly 20% of renters are behind on their payments as of January. Read: The untold story of how Jeff Bezos beat the tabloids. (Businessweek) | |  TIMOTHY A. CLARY/AFP via Getty Images | The theater kid in all of us let out a piercing G-sharp after hearing the news: Broadway is coming back. Yesterday, NY Gov. Andrew Cuomo said that tickets for full-capacity shows will go on sale today. Unfortunately, you can't use 'em for third dates this summer. Performances will return Sept. 14, reflecting the time needed to market shows, get performers back up to speed, create safety protocols, and allow audiences to get vaccinated. - Broadway shows, which generated $1.8 billion in sales in 2019, rely heavily on tourists to fill seats. With international travel still in flux, it's unclear how much $$$ shows will make in 2021.
Still, it'll be nice to hear a live orchestra again after listening to Ben Platt on Spotify for 14 months. + Show tunes not your thing? Tickets go on sale today for the Governors Ball music festival at Citi Field in September. Headliners include Billie Eilish, Post Malone, A$AP ROCKY, and J Balvin. | |  | Imagine there was a restaurant that made you order your food nine months in advance, but when the food came, it was half the size of the portions on Yelp. So the restaurant tried to make it up to you by serving appetizers you didn't even really want. This is the plight of media buyers in 2021. Marketing Brew spoke with six media buyers and advertisers to learn what they're expecting out of this year's upfronts, which is when media buyers agree to pay networks like NBCUniversal a certain amount of $$$ to air ads on behalf of clients for the coming year. Find out what they said. | | - Moderna said its Covid-19 vaccine booster shot (which would be #3) showed early signs of effectiveness against certain variants.
- GM maintained its earnings guidance for this year despite the chip shortage.
- Uber posted its smallest quarterly loss in history.
- Blue Origin, Jeff Bezos's rocket company, is auctioning off a ticket to the edge of space.
- New York will offer free Mets or Yankees tickets to people who get their vaccine at the stadiums.
| |  | Slack, Google, and TomTom are three companies you know. But what you don't know is they all use Workiva to make the most complex work easier across departments and divisions. Workiva are the self-driving work pioneers, helping you automate repetitive tasks, orchestrate workflows, and turn your datapoints into reusable assets. Work with Workiva and you'll never start from scratch again. | | | TikTok the markets: If you want to learn more about the markets but don't really feel like reading about it, check out our new Markets 101 series on TikTok with Kyla Scanlon. Here's Part 1 and Part 2...and for more investing content check out Kyla's TikTok. Laugh tracks: It's the kind of listicle you just have to click on...the 100 best sitcoms of all time. | | | We love Three Headlines and a Lie because it's the only time we get to trick our audience. Here's four headlines, see if you can spot the faker. Also everyone at Morning Brew is 6'5". - "Overdue VHS tape from 1999 leads to warrant for embezzlement"
- "Jamie Dimon pledges to get dogecoin tattoo if the crypto hits $1"
- "Japanese man arrested after 'dating more than 35 women at once to get birthday gifts'"
- "Police thwarted by goat stuck on roof who 'only respects one man'"
| | | Jamie Dimon is probably not going to get a dogecoin tattoo anytime soon. | | | ✳︎ A Note From Workiva - Slack is a registered trademark and service mark of Slack Technologies, Inc.
- Google is a registered trademark of Google LLC.
- TomTom is a registered trademark of TomTom International BV.
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