Good morning. We're not big into #thoughtleadership, but if we had to dish one piece of advice today, it's that if you're not feeling fulfilled by something—a hobby, a relationship, Marvel movies—there's no obligation to cling to it forever. The inspo for that comes from five-time world chess champion Magnus Carlsen, who announced yesterday that he wasn't going to participate in next year's championship because he's just "not motivated" to compete. "Although I'm sure a match would be interesting for historical reasons and all of that, I don't have any inclination to play," he said. —Matty Merritt, Jamie Wilde, Neal Freyman, Joe Abrams | | | |  | Nasdaq | 11,897.65 | | | | | S&P | 3,959.90 | | | | | Dow | 31,874.84 | | | | | 10-Year | 3.031% | | |  | Bitcoin | $23,398.14 | | | | | Coinbase | $75.27 | | | | *Stock data as of market close, cryptocurrency data as of 8:00pm ET. Here's what these numbers mean. | - Markets: Don't look now (or actually definitely look), because the major stock indexes, fueled by a tech rally, have hit their highest levels since early June. And is crypto winter starting to thaw? Coinbase jumped after it said it had no financing exposure to three crypto companies that went kaput, extending its five-day gains to 44%.
| | | | Scooby-Doo/Warner Home Video via Imgflip This can't be emphasized enough: The best place to trash talk your boss is in the group chat. A US judge ruled last week that the anonymous review site Glassdoor would need to hand over the identities behind six biting reviews of New Zealand toy company Zuru. The decision not only threatens Glassdoor's privacy policy, but also…uh…its whole existence. In January, Zuru issued a subpoena against Glassdoor through a California court (Glassdoor is headquartered in San Francisco) to name the former employee(s) who, among other criticisms, called the toy company a "burnout factory" and alleged a toxic company culture. But this is nothing new for Glassdoor. The company's FAQs currently note that it will "object to and resist" subpoenas for users' identities, and that if you want to take the company to court, it will usually show up to fight your request. And Glassdoor claims it's done just that in 100+ cases attempting to reveal users. But this case is a little different Ultimately, the US federal judge argued that because the identities of the disgruntled Zuru employees are most likely not US citizens, they are not protected by US free speech law. So now New Zealand courts will have to decide in future litigation—which Zuru intends to pursue—if the former employees defamed the company with their reviews. The English translation: I'll let the night guy handle this. So, should you be worried about calling your company a "bag of buttheads" online? Definitely, if you're Flight of the Conchords or Taika Waititi. This case does not set legal precedence, meaning it's still pretty up in the air if other lawsuits would result in similar rulings. Big picture: Glassdoor's $1.2 billion business hinges on users from around the world logging on to honestly review nearly 2.2 million companies—and those users are under the impression their reviews will stay anonymous.—MM | | | Three words: sustainable summer sneakers. That's just one way to describe Cariuma's best-selling canvas sneakers. (They also go by cool, cozy, and classic.) These kicks don't just show you've got style—they show love to the planet, too. From the materials they're made from to the factories they're made in, Cariuma sneakers are eco-conscious every step of the way. With a vast range of bright colors, neutrals, and bold prints, this bestseller also features collaborative colorways with brands like PANTONE, Atari, Peanuts, and even legendary surfer Gerry Lopez. These kicks are known to sell out and rack up a huge (read: 61k) waiting list. They never go on sale, but Brew readers can get 20% off with code MBJULY20. Get your summer fits ready here. | | Minecraft  Minecraft becomes a safe haven from bored apes. Minecraft, the open-world game where everything looks like a middle schooler's crayon drawings, said it wouldn't allow or support the use of NFTs on the platform. In a letter posted to its website on Wednesday, Minecraft developer Mojang Studios told users that blockchain technology, including NFTs, aren't in line with the game's values of "creative inclusion and playing together" and that they "create a scenario of the haves and the have-nots." NFTs were previously allowed on some Minecraft servers for player skins and items.
 As heat bears down, Biden holds off on emergency action on climate. In a speech in Massachusetts, President Biden unveiled new executive actions to combat the climate crisis yesterday, but he still disappointed Democrats who had wanted him to declare a national emergency after climate legislation was scuttled in Congress. The steps, which include funding wind-energy production and using $2.3 billion to retrofit and protect disaster-prone communities, come as about 100 million Americans are under heat advisories and warnings. Austin, TX, just had its 40th straight day of temps exceeding 100 degrees.
 UK prime minister showdown. The field to succeed Boris Johnson as UK prime minister has been whittled down to two: former finance minister Rishi Sunak and Foreign Secretary Liz Truss. Members of their Conservative Party (not voters) will choose the winner by early September. After making his farewell speech at the House of Commons yesterday, Johnson went full mic drop, saying, "I want to thank everybody here, and hasta la vista, baby!"
| | FaZe Clan via Giphy Media company FaZe Clan went public via a SPAC merger yesterday with a $725 million valuation. Okay, "media company" is a bit of a generalization for FaZe, which has its thumbs in esports, content, merchandise, and more. Some background: FaZe Clan commands a legion of 93 creators with a collective 500+ million followers, including pro gamer Håvard "rain" Nygaard, rapper Lil Yachty, and Snoop Dogg—who's also on the board of directors. (Notably, it only has one woman on its creator roster, Kalei Renay, who's in the above GIF.) Members also star on 11 esports teams that would probably pwn you: Its Counter-Strike team is No. 1 globally and just nabbed $400,000 by winning first place at the Intel Extreme Masters Tournament. FaZe Clan also sells merch with Supreme-level hype, recently collabing with Disney for a glow-in-the-dark drop. And beyond gear and gaming, it's announced partnerships with DraftKings for esports gambling and DoorDash for food delivery. FaZe Clan CEO Lee Trink is also scoped in on Web3 and has talked about sponsoring a play-to-earn game. Zoom out: Going public via SPAC was the second-hottest trend of 2020, behind bread-baking, but the approach has gone out of style as the SPAC market has fizzled in the last year. Trink is unfaZed: "I understand why other companies have been criticized for going public via the SPAC vehicle. But for us, it really fits," he said.—JW | | Naidu et al, P. Oesch, T. Treu, GLASS-JWST, NASA/CSA/ESA/STScI The James Webb Space Telescope just took a pic of the oldest galaxy ever discovered. The blurry red dot above is a galaxy that formed just 300 million years after the big bang, which happened 13.7 billion years ago—that's 100 million years older than the previous oldest galaxy, which was photographed by the Webb's predecessor, Hubble. Because it's so old and the universe expands exponentially faster, GN-z13 is also very smol. It weighs the same as a petite 1 billion suns, compared to the Milky Way's mass of 1.5 trillion. Why it matters: One purpose of the James Webb telescope is to help scientists understand how the universe was formed. As it snaps more pics, it's possible it could capture images of even older galaxies…and the big bang itself.—JW | | Win McNamee/Getty Images Stat: 20% of US adults said that political violence is justified in some circumstances, according to a new survey from UC Davis. And half of respondents said they expect the US to break out in civil war soon. Look, we get that standing up right after the plane lands is divisive, but is violence really the answer? Quote: "Quadball" That's the new name for Quidditch, after US Quidditch and Major League Quidditch decided to switch the official name of the sport. With the rebrand, they're trying to distance themselves from Harry Potter author (and Quidditch creator) JK Rowling, who they say has anti-transgender views. While it originated in a children's book, Quidd—er, Quadball has blossomed into an IRL sport with nearly 600 teams playing across at least 40 countries. Read: A brief history of "Nobody wants to work anymore." (Paul Fairie) | | TOGETHER WITH LINCOLN FINANCIAL | | Protect ya check$. Got money on your mind? Lincoln Financial's products and solutions can help you protect your financial future. With life insurance products, annuities, and more, they can help you gain the confidence to live the way you want. Get started here.* | | - Tesla, which topped profit forecasts despite shutdowns at its China factory, also disclosed it converted about 75% of its bitcoin holdings into fiat currency.
- The price of existing homes in the US surged to another record of $416,000 last month.
- Nurse burnout has reached a record high. 64% of nurses said they're looking to leave the health care sector, a new survey showed.
- An explainer on Delaware's Chancery Court, the site of the Elon Musk v. Twitter showdown in October.
- Renting bridesmaids has become a fast-growing industry in China.
| | Who needs machines? Watch how this one guy makes rope by braiding vegetable fibers. Truly incredible. A newsletter that requires minimal reading: Get smarter with the No. 1 visual newsletter from our friends at Chartr. Join 200,000+ subscribers who love snackable charts and easy-to-remember data insights on business, tech, entertainment, and society. Sign up for free. Does life imitate Netflix? A clip from Netflix's Don't Look Up is eerily similar to a recent UK news interview about rising temps. Check it out. | | Brew Mini: It's the second day in a row that we're asking you to revisit that massive globe you got for your fifth birthday. Play today's Mini here. Three headlines and a lie Three of these headlines are real and one is faker than the fruit on display at West Elm. Can you guess the odd one out? - US Lawn Mower Racing Association is launching a startup incubator
- Office cats laid off as companies close
- A discarded coffee cup may have just helped crack this decades-old murder case
- Man who stole Lady Gaga's bulldogs and shot dog walker mistakenly released
If you love three headlines and a lie, play along on The Refresh from Insider and dive deeper into these weird headlines. | | I Bonds: Something Katie had never even heard of a year ago has been front and center in the financial news for the last few months. Find out more about them on Money with Katie: Listen or watch here. For more from the Brew: 🕯 Shop Right Here Right Now candles to unlock the sweet, sweet scent of a successful work day.  Why is the PGA Tour fighting against the Saudi-backed LIV Golf series? We break down "sportswashing" and why you should be paying attention to pro golf right now. Watch here.
| | | We made up the lawn mower racing one. | | | ✳︎ A Note From Lincoln Financial Lincoln Financial is the marketing name for Lincoln National Corporation and insurance company affiliates, including The Lincoln National Life Insurance Company, Fort Wayne, IN, and in New York, Lincoln Life & Annuity Company of New York, Syracuse, NY. Copyright 2022 LCN-4838034-070822 | | | Written by Neal Freyman, Matty Merritt, Jamie Wilde, and Joseph Abrams Was this email forwarded to you? Sign up here. WANT MORE BREW? Industry news, with a sense of humor → - Future Social: the Brew's take on the world of social media
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