Good morning. Brew readers Maryanne and Rumen are about to be the two most caffeinated people on the planet—they won yesterday's referral giveaway for a Breville espresso machine and a 12-month coffee subscription. In related news, we were cleaning up our warehouse and happened to stumble on some Apple products in search of a new home, so we're giving them away today: two sets each containing an iPad, Apple Pencil, and Magic Keyboard.  Same rules apply: Refer a friend to the Brew and both you and the person you refer will have a chance to win a set of elite tech gizmos. And remember, the more referrals you rack up, the more "tickets" get entered into the raffle on your behalf. The raffle closes at 5pm ET today (just in time for happy hour). Share to win—Neal Freyman, Max Knoblauch, Matty Merritt | | | |  | Nasdaq | 11,754.23 | | | | | S&P | 4,017.82 | | | | | Dow | 32,272.79 | | |  | 10-Year | 3.046% | | | | | Bitcoin | $30,185.29 | | | | | Meta | $184.00 | | | | *Stock data as of market close, cryptocurrency data as of 11:00pm ET. Here's what these numbers mean. | - Markets: Investors were a nervous wreck yesterday ahead of this morning's crucial inflation report—which will show us whether inflation has peaked or not. Big Tech stocks such as Meta, Amazon, and Apple dragged the market lower.
- Government: The House committee investigating last year's attack on the Capitol held its first televised hearing last night in an attempt to hold the perpetrators accountable and document what Rep. Liz Cheney called a "sprawling, multi-step conspiracy aimed at overturning the presidential election." The hearing featured lurid videos from the insurrection and video testimony from associates of President Trump who refuted his claim that the 2020 election was fraudulent.
| | | | Photo Illustration: Dianna "Mick" McDougall, Photos: Getty Images Average US gas prices topped $5 per gallon for the first time yesterday, according to GasBuddy, and if you're about to let out a big ol' ugly cry right now, you might want to save your tears: Many experts predict we're headed toward $6 and beyond. A "perfect storm" of variables has aligned to drive gas prices higher this summer, GasBuddy's Head of Petroleum Analysis Patrick De Haan wrote, leading to a severe supply–demand imbalance that could drag on like the final two minutes of an NBA game. - On the demand side, Americans are ramping up travel during the first "reopened summer" since the pandemic began.
- But there's not nearly enough supply to satisfy demand. The war in Ukraine has taken a lot of Russian oil off the market, while US refineries are basically at capacity.
Soaring gas prices aren't just painful for summer road-trippers. Because fuel is a critical input for so many goods and services, higher costs are causing havoc across the economy… - Aviation: Airfares in the US skyrocketed 18.6% in April from a month earlier, an increase that is almost exclusively driven by a jump in jet fuel prices, United CEO Scott Kirby said.
- Law enforcement: A sheriff's department in Michigan instructed its deputies to cut back on visits for non-urgent calls because it had blasted through its fuel budget with months before a new one kicks in.
- Emergency services: An ambulance crew in Pittsburgh said it was limiting its service outside of 911 calls after facing a similar budget crunch. Its fuel expense for the full year is typically $50,000, and it's already getting close to that entering June.
- Landscaping: Lawnmowers and trimmers use gas to make your front yard the envy of the neighborhood. But after absorbing all of the cost increases they can, some landscapers have slapped a surcharge on customers, and others are even looking into electric mowers and propane as an alternative fuel.
Looking ahead…economists will be keeping tabs on whether Americans begin to drive less because it's just too expensive. In the short term, a 10% jump in gas prices typically leads to a 2%–3% decline in gas consumption, UC Berkeley economist Lucas Davis told the WSJ.—NF | | TOGETHER WITH CARDCRITICS | | The high marks come as no surprise, though, considering this card offers some of the highest unlimited cash back on the market: 2% across the board, unrestricted by categories. And as icing on this already delicious cake, this card will also send a sweet bonus your way. Oh, and did we mention you'll pay no annual fee? Yep. Those rave reviews from even the staunchest of credit card critics are makin' sense now. This card is made for wins, and if you like winning, it can be your ideal sidekick. Apply for yours here. | | Francis Scialabba  Disney sacks top TV executive. Peter Rice, who oversaw Disney's cable channels, its streaming platforms, and ABC, was fired yesterday for reportedly not being a good fit with the company culture. It's a surprising move, because Rice was considered by some to be a candidate to fill the CEO role one day. It doesn't seem like a fun job. The guy who's in there now, Bob Chapek, has had to navigate a wave of scandals during his tenure, but he received a statement of support from the board yesterday.
 PGA Tour ramps up feud with LIV Golf: It suspended 17 players, including Phil Mickelson and Dustin Johnson, from PGA Tour tournament play after they joined the newly created LIV Golf series. The PGA Tour also plans to boot any golfers who decide to play in LIV events in the future. LIV said the PGA Tour's decision was "vindictive and it deepens the divide between the Tour and its members."
 Wells Fargo investigated over sham interviews. Federal prosecutors have launched a criminal investigation into the bank following a report that it interviewed diverse candidates for positions that had already been promised to others, according to the NYT. Following that report, Wells Fargo CEO Charlie Scharf said the company would pause using its diversity guidelines for hiring while it reviews the policy.
| | April 20, 2022 pro marijuana rally in Bangkok, Thailand. Lauren Decicca/Getty Images Thailand officially decriminalized cannabis yesterday, becoming the first Asian country to decriminalize weed for medical and industrial purposes (but not recreational). And even though the move could help the country rejuvenate its Covid-ravaged tourism industry, Thailand made it very clear that it's not trying to be the next Boulder. The details: Individuals can grow and trade cannabis products without violating the law, medical facilities are allowed to prescribe the drug, and restaurants can offer you a morning latte with a schtickle of THC. But officials are warning everybody—especially tourists—that recreational use is still illegal and you could face steep fines and potentially three months in jail for lighting up in public. - Thai Health Minister Anutin Charnvirakul told CNN, "If [tourists] come for medical treatment or come for health-related products then it's not an issue but if you…come to Thailand to smoke joints freely, that's wrong."
Still, Thailand is hoping that loosening cannabis regulations will make it a more attractive destination for tourists, who've typically accounted for 12% of its GDP. The number of international visitors to Thailand plunged 99.8% in December 2020 compared to December 2019, though travelers have been slowly trickling back.—MM | | Gina Ferazzi/Los Angeles Times via Getty Images There are two basic ways to use sriracha—on everything, emptying a bottle biweekly, or rarely enough to still have half of a bottle in your fridge from 2017. Bad news for people in the former group: A "severe shortage" of the hot sauce is expected to last through the summer. Huy Fong Foods, the popular California-based company with a rooster logo on its bottle, sent a letter to wholesale buyers early this spring stating that due to weather conditions affecting chili pepper quality, sriracha orders placed after April 19 wouldn't be scheduled until the fall. Until then, you'll have to find some other magic condiment to save that nuked stir fry. Huy Fong sources its peppers from Mexico, which has been experiencing the same drought as the western US—the worst in 1,200 years. The company expects to refill its inventory when the fall harvest comes along. The light at the end of the bottle: Other sriracha brands have not announced pepper problems and may source their peppers elsewhere, so for now the shortage seems like a Huy Fong problem. In the meantime, The Takeout compiled a short list of alternatives if you find yourself in need.—MK | | Screenshot of a Claus video on YouTube Stat: Pretty much everyone who lives in Alaska is running for the state's US House seat. 48 candidates are on the ballot, including Sarah Palin, 22 independents, and a guy who legally goes by the name of Santa Claus (he's a city councilor for the community of North Pole). The mail-in ballots must be postmarked by tomorrow, and the four candidates who get the most votes will head to a special general election in August. Quote: "I don't have a lot of time for her." Treasury Secretary Janet Yellen said she does know who Cardi B is during an interview at the NYT Dealbook DC Policy Forum yesterday, but she's a little too busy drafting economic policy to join the WAP discourse. The topic of Cardi B came up because last weekend the rapper tweeted, "When y'all think they going to announce that we going into a recession?" Yellen said that she didn't think we would enter a recession. Read: A guide to asking robots to design stained glass windows. (Astral Codex Ten) | | The feeling of getting a 5/5 on the Brew's Weekly News Quiz has been compared to seeing someone you know at a wedding where you thought you wouldn't know anyone. It's that satisfying. Ace the quiz. | | TOGETHER WITH CROWDSTREET | | Can inflation blow a house down? Probably not. Most real estate assets still appreciate long term, typically making commercial real estate a strong, steady investment against Big Bad Inflation. With CrowdStreet, the nation's largest online private-equity real estate investing platform, investors can choose from among many different commercial real estate projects to find their *ideal* investment. Get started here. | | - US auto safety regulators are expanding their investigation of Tesla's Autopilot system after a series of new crashes involving first-responder vehicles.
- President Biden wants to turn one of the country's largest underwater canyons, 100 miles off of the New York coastline, into a national marine sanctuary.
- A heat wave is going to bake the Southwest this weekend.
- Stitch Fix is laying off 15% of salaried positions to save money in these tumultuous times.
- The Grammys announced new awards, including "Songwriter of the Year" and "Best Score Soundtrack for Video Games and Other Interactive Media."
| | The trend taking over TikTok: "Healthy Coke" made with…balsamic vinegar? We haven't tried it, but you can find the OG recipe here. The curious case of the stuck bowls: Follow the saga of one Twitter user who tried every strategy in the book to unstick two ceramic bowls. Smart people answer questions: When buying a bottle of wine for a dinner party, how much is too much? Nobel laureates answer that and other questions here. | | We launched IT Brew specifically for IT professionals looking to stay in the know—and have a little fun while doing it. From cybersecurity to big data to software development to gaming, IT Brew drops all the latest industry news, trends, and insights right into your inbox twice a week. Click here to subscribe. | | Adam, Bob, Claire, and Dave come to a wooden bridge. The bridge is weak and only capable of carrying the weight of two of them at a time. Because they are in a rush and the light is fading, they must cross in the minimum time possible and must carry a flashlight on each crossing. They only have one flashlight and it can't be thrown. Because of their different fitness levels and some minor injuries, they have to cross at different speeds. Adam can cross in 1 minute, Bob in 2 minutes, Claire in 5 minutes, and Dave in 10 minutes. When two people cross the bridge together, they must move at the slower person's pace. Adam declares that the crossing can be completed in 17 minutes. How is this done? | | When you share the Brew today, you and someone you refer will be entered into a drawing to win two tech packs that each include an iPad, Apple Pencil, and Magic Keyboard. And the more people you refer, the better your chances of winning. The raffle closes at 5pm ET today, so be sure to share the Brew this morning before everyone heads out of town for the weekend. Click here to share
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| | Adam and Bob cross (2 minutes) Adam returns (1) Claire and Dave cross (10) Bob returns (2) Adam and Bob cross (2) That's 17 minutes. | | | Written by Neal Freyman, Matty Merritt, and Max Knoblauch Was this email forwarded to you? Sign up here. WANT MORE BREW? Industry news, with a sense of humor → - HR Brew: analysis of the employee-employer relationship
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