Friday, March 3, 2023

☕ Snow (hey oh)

China-based apps are dominating app stores...
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Morning Brew

HOKA

Good morning. On Wednesday, we asked you to channel Larry David and discuss whether it's socially acceptable for two people dining together to order the same dish. And after reviewing your responses over the last two days, it's clear that people are pretty split on this:

  • Readers against duplicative ordering talked about the delight of sharing food and the need to "cover your bases" when going to a restaurant (especially a new one).
  • Readers who said it was OK to order the same dish argued it's unfair to the person who orders second, and, look—eating at a restaurant is supposed to be fun, not a chore…so don't stress. Order what you want.
  • And then there's Regina B.: "My whole group of eight has ordered the same thing."

Jamie Wilde, Matty Merritt, Max Knoblauch, Neal Freyman

MARKETS

Nasdaq

11,462.98

S&P

3,981.35

Dow

33,003.57

10-Year

4.062%

Bitcoin

$23,501.86

Salesforce

$186.59

*Stock data as of market close, cryptocurrency data as of 4:00am ET. Here's what these numbers mean.

  • Markets: The seesawing stock market went up yesterday, with the Dow boosted by Salesforce's best trading day since 2020. Activist investors have swarmed the software company, but it crushed earnings on Wednesday, and CEO Marc Benioff said he was listening to his critics' feedback.
 

TECH

US crackdown could extend beyond TikTok

Chinese apps in locks Dianna "Mick" McDougall

It's no secret that the government considers TikTok a national security threat. But in an interview with Bloomberg yesterday, Secretary of Commerce Gina Raimondo suggested that the government is concerned about the dangers posed by other Chinese apps, too.

"If what we're worried about is Chinese-backed companies being on tens of millions of American phones, including members of the military and privacy concerns, data concerns, misinformation concerns—it doesn't just apply to TikTok," she said.

Thing is, Chinese apps are the most popular apps in the US right now. The top three free apps on Apple's App Store yesterday were Temu, CapCut, and TikTok, while Google Play's were Temu, TikTok, and Street Fighter: Duel—with Chinese fast-fashion company Shein chilling at No. 4.

Except for Street Fighter, all of these apps are based in China and have been downloaded onto American devices hundreds of millions of times.

  • CapCut is a video editor for TikTok owned by the same tech giant, ByteDance.
  • Temu is a shopping app that was already gaining traction in the US late last year but boarded a rocket ship to the most-downloaded spot after airing two spots for its "Shop Like a Billionaire" commercial during the Super Bowl.

For now, TikTok has the biggest target on its back:

  • Legislation to ban TikTok in the US was approved by an influential House committee this week, though it still has to face trials by fire with the full House and Senate.
  • Government agencies have 30 days from Feb. 27 to ensure TikTok is deleted from all federal devices and systems.

Experts can't agree on whether Chinese apps are a threat

An exec at the think tank founded by former Google CEO Eric Schmidt wrote last month that all of these uber-popular Chinese apps, including the messenger WeChat and game apps from Tencent, "could pose similar challenges [to TikTok], particularly with respect to data harvesting, data exploitation, and—possibly—covert influence."

But others say the fears are #ghosttok-level overblown…and judging by the apps' enormous number of downloads, the average American ain't afraid of no posts. For all the scrutiny of TikTok, technologist and author Kevin Xu wrote, "US legislators, policymakers, and think-tankers have yet to produce any concrete evidence of harm done by the app."—JW

        

TOGETHER WITH HOKA

A spring in your stride

HOKA

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The next generation of the runner's running shoe, Clifton 9 is designed to strike the perfect balance between soft and light for the ultimate smooth ride, no matter the terrain. 

Whether your last run was this morning or in high school gym class, the Clifton 9 can introduce you to a whole new running mood. Shop now.

WORLD

Tour de headlines

An illustration of a house

Mortgage rates are spiking…again. The average rate on the 30-year fixed mortgage rose for the fourth straight week, to 6.65%, according to Freddie Mac. While mortgage rates fell earlier this winter, they're jumping again in response to strong economic growth and hot inflation data, which could signal more interest rate hikes from the Fed. Higher mortgage rates combined with already astronomical home prices have led to the most unaffordable housing market on record, per Bloomberg.

Alex Murdaugh found guilty of murder. A jury convicted the disbarred South Carolina lawyer of murder in the shooting deaths of his wife and son in 2021. The case drew national attention due to the Murdaugh family's powerful influence in the local area and Alex Murdaugh's alleged financial crimes (which prosecutors claimed motivated the murders: He wanted to gain sympathy and avoid investigations into his financial misdeeds). Murdaugh faces 30 years to life in prison for each murder charge.

Progress on the gender pay gap has stalled. US women earned an average of 82% of what men earned in 2022, according to a new Pew Research Center analysis. That's just a slight uptick from the 80% women earned relative to men 20 years before, in 2002. The study shows how the progress made on the gender pay gap in the late 20th century has petered out in 21st, despite women now having higher educational attainment than men. In 1982, women earned an average of 65% of what men earned.

WEATHER

California got a lot of snow

Hollywood sign in front of snow covered mountains. Mario Tama/Getty Images

A once-in-a-generation snowstorm has buried the West Coast.

Double it and give it to the next year. California has already received twice the average snowfall it normally sees by March, according to UC Berkeley researchers. Some mountainous regions have been slammed with 40 feet of snow since the start of winter.

But just in the last week, California has been hit with an obscene amount of fresh pow. On Wednesday, Governor Gavin Newsom declared a state of emergency for 13 counties, including San Bernardino—where some towns will likely be cut off from the rest of the state for weeks.

California's Joshua Tree National Park closed on Wednesday because of inclement weather. And there's no reopening date in sight for Yosemite National Park, which has been shut down since Saturday.

For ski resorts, it's too much of a good thing. Mountain High in Southern California averages 67 inches of snowfall every season. But its slopes received 93 inches (about eight feet) last week alone. Unfortunately, Mountain High and other SoCal resorts are still snowed in and are at the mercy of unplowed highways.

Big picture: California's wet and wild winter has freed up half of the state from drought, according to data from the US Drought Monitor.—MM

        

TOGETHER WITH MONOGRAM

Monogram

On track to Nasdaq. Looking to invest in a company that's pushing the boundaries of what's possible? Monogram—the 3D-joint-printing, precision-surgery-robot-making, chronic-knee-pain-solving tech company—is looking to shake up the entire orthopedic industry (a $19.4b market). Get the details here, then invest in Monogram ahead of their planned Nasdaq listing.

FOOD & BEV

Whiskey fungus pits locals against Jack Daniel's

Jack Daniel's whiskey SOPA Images/Getty Images

Turns out there are more cons to living near a bourbon distillery than just the obvious (having a million gingham shirt bachelor-party guys stumble around your neighborhood every year).

An out-of-control, soot-like whiskey fungus is spreading in Tennessee and causing a rift between residents and famed whiskey-maker Jack Daniel's.

The fungus, named Baudoinia compniacensis after a distiller who first made note of it in the 1870s, feeds off of ethanol vapors released during the whiskey aging process. For months, residents of a rural Tennessee county where Jack Daniel's has six barrelhouses (and plans to build up to 20) have complained that the fungus coats basically all outdoor surfaces, including trees, house siding, and patio furniture.

Studies have shown that the fungus isn't hazardous to humans—and it dirties but doesn't damage property—but residents are nonetheless peeved with Jack Daniel's over its spread, filing a lawsuit that's ultimately forced the company to stop construction on a new barrelhouse.

Residents are asking for Jack Daniel's to fund an environmental study to see if the vapors or fungus harm humans, and install an air filtration system to slow their spread. The company has resisted installing filters and claims it could impact the whiskey's flavor.—MK

        

GRAB BAG

Key performance indicators

Washington Commanders player NFL via Giphy

Stat: In a survey of 1,300 NFL players, the Washington Commanders ranked as the worst organization to suit up for. Not only has the team faced controversy over its name, ownership, and workplace culture, but it also scored an F- grade in three out of eight categories in the survey, which the NFL Players Association conducted in order to surface the best practices for running a franchise. Seems like teams could learn a thing or two from the Minnesota Vikings, which nabbed first place.

Quote: "Messi, we're waiting for you."

Gunmen left a threatening note for soccer superstar Lionel Messi in his hometown of Rosario, Argentina, as they opened fire in a supermarket owned by his wife's family. Rosario is rife with organized crime, and is the country's most dangerous city. A local official claimed a "mafia" group was behind the intimidation.

Read: How loneliness reshapes the brain. (Quanta Magazine)

QUIZ

Quizzie McGuire

Weekly news quiz

The feeling of getting a 5/5 on the Brew's Weekly News Quiz has been compared to making mac and cheese after a night out.

It's that satisfying. Ace the quiz.

NEWS

What else is brewing

  • Starbucks engaged in "egregious and widespread" violations of federal labor law at stores in upstate NY and illegally fired six workers in response to a unionization drive, a judge at the National Labor Relations Board ruled.
  • Former President Trump does not have immunity from civil lawsuits over his role in the Jan. 6, 2021, attack on Capitol, the DOJ said.
  • More than half of the global population will be obese or overweight by 2035 barring significant action, the World Obesity Federation warned.
  • Egyptian officials confirmed the discovery of a hidden corridor in the Great Pyramid of Giza.

RECS

Friday to-do list

Tech trends: If you want the 30,000-foot view of what's happening in tech, read this deck.

Short-form cinema: The best horror movie you'll watch all year.

Pod recs: Here are the best podcasts of 2023, according to Vulture. (Morning Brew Daily got snubbed.)

You never know when you might need it: an ɹoʇɐɹǝuǝɓ ʇxǝʇ uʍop ǝpᴉsdn.

Save smarter: Many Americans worry they're not saving enough for retirement, and rightfully so. Find out if your savings meet the recommended amount by age—and how a financial advisor could help.*

*This is sponsored advertising content.

GAMES

The puzzle section

Jigsaw: If you need a 10-minute breather from work to clear your brain, try solving our digital jigsaw puzzle. Check it out.

Friday puzzle

We'll give you five words and five definitions. Each word can be anagrammed into a two-word phrase that matches one of the definitions. Then, you have to assign each definition to its corresponding word.

Example: Given the word "cobalt," you could rearrange it to "cat lob" and match the definition "to hit a feline in a high arc."

Words

Chameleon, medium, physical, president, tungsten

Definitions

a boat constructed of thick mud-like soil

a cozy canvas shelter

a device for trapping tarantulas

a not-too-bright bird

a tidy house

AROUND THE BREW

Convos away from the water cooler

Convos away from the water cooler Getty Images

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Should you be using ChatGPT at work? How will automation affect jobs? Read Tech Brew for the latest news in business and technology for free.

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ANSWER

A tidy house = clean home (chameleon)

A not-too-bright bird = dim emu (medium)

A boat constructed of thick mud-like soil = clay ship (physical)

A device for trapping tarantulas = spider net (president)

A cozy canvas shelter = snug tent (tungsten)

✳︎ A Note From Monogram

Disclosure: This is a paid advertisement for Monogram Orthopedics' Regulation A+ offering. Learn more at invest.monogramorthopedics.com/disclaimers.

         

Written by Neal Freyman, Max Knoblauch, Matty Merritt, and Jamie Wilde

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