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Wednesday, April 21 2021

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Good morning. If you had $1,000 to invest in Dogecoin on Jan. 1, you’d now have enough money to buy a Tesla Model S.

  • As if that couldn’t be topped, the cryptocurrency that began as a joke in 2013 ended Monday worth more than Marriott and Ford.  🤯

However: “I look at Dogecoin as more of a speculative play that when this bubble bursts, it will probably cease to exist.”  – Eddie Ghabour, Managing Partner at Key Advisors Group.

Dogecoin: To the moon or zero?

 

⏰🚀 Ready, Set, Go: Today’s newsletter takes 3.91 minutes to read.

🍩 Daily Sprinkle

“Do one thing every day that scares you.”

―Eleanor Roosevelt

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🗣👂 Dose of Discussion

🇺🇸 UBI: Good Idea or Nah?

Los Angeles Mayor Eric Garcetti unveiled a proposal on Monday to spend nearly $1B in the coming year to address the city’s homelessness crisis.

  • Included in the plan is a universal basic income (UBI) program where $24M in taxpayer dollars will be used to provide $1K a month to 2k households for a year – “no questions asked.”

🤿 A deeper dive…
At least 11 U.S. cities are piloting UBI programs this year - including Oakland, Richmond, St. Paul, and Pittsburgh - with another 32 mayors saying they may do so in the future as part of a coalition called Mayors for a Guaranteed Income.

  • The payments range from $500 to $1K per month, targeting residents based on income, race, gender, and/or parental status. They are funded by private donations or a mix of public and private money.

Elsewhere… Former Democratic presidential candidate Andrew Yang - who made UBI a cornerstone of his campaign - is proposing a basic income for poor New York City residents as part of his mayoral campaign.

⏭️ What’s Next?
Mayor Garcetti’s $955M proposal was included Tuesday in his annual budget blueprint, which must be adopted or modified by the City Council before a June 30 deadline.

  • Mayors for a Guaranteed Income: Test programs in the U.S. will be supplemented by other experiments in global cities, past and present. The largest such program is in Maricá, Brazil, where tens of thousands of residents below the poverty line are currently receiving monthly payments.
See the 360 View

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👇📰 Quick Bits

⚖️ Chauvin Guilty on All Charges

Derek Chauvin was convicted on all three counts - 2nd-degree unintentional muder, 3rd-degree murder, & 2nd-degree manslaughter - in the death of George Floyd last May. The jurors came to a decision after roughly ten hours of deliberation.

  • The charges carry maximum sentences of 40, 25, and 10 years, respectively, but Minnesota uses sentencing guidelines, which means that for someone with no prior convictions like Chauvin, the recommendation is only 12.5 years for each murder charge, as well as four years for manslaughter.
  • Even though Chauvin is convicted of more than one count, according to Minnesota law, he only serves a sentence for the most severe charge. If the judge follows the Minnesota state guidelines, Chauvin would serve just that 12.5-year sentence. (More on how that works.)

More: Prosecutors in the case are seeking a longer sentence than the 12.5 years, referencing "aggravated factors"  – but it's up to the judge to decide if those factors exist, and if he will go above the state recommended guidelines.

Even More: The sentencing hearing will take place in about eight weeks. Chauvin is expected to appeal. (What that may look like.)


From the Left

From the Right

 

+In case you missed it: Yesterday’s 360° coverage of the trial’s arguments.

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🇷🇺 Russian Troops at Ukrainian Border

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Image: Maxar Technologies

Russia closed the airspace over parts of Crimea and the Black Sea yesterday through April 24, reportedly saying the areas had been "declared temporarily dangerous for aircraft flights."

  • The move coincided with 20 Russian vessels taking part in a joint exercise in the Black Sea.

More: Russia has reportedly amassed more than 150k troops at the Ukranian border and in annexed Crimea, an EU official told reporters on Monday.

Even More: U.S. officials wouldn’t confirm the exact number of troops in a separate press conference Monday, but did say there has been a continued “increase in the forces along the border” over the past few weeks.

 
From the Left

From the Right

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🏥 Federal Audit Finds Healthcare Fraud

A federal audit published Tuesday found health insurance company Humana Inc. improperly collected nearly $200M from Medicare in 2015 through a health plan for seniors in Florida.

  • The office of the HHS Inspector General - which recommends seeking repayment in full - said Humana received excess federal funding by overstating how sick some patients were, or claiming they were still receiving treatment that had already concluded.
  • It also found instances where Medicare underpaid Humana by hundreds of thousands of dollars due to incorrect billing codes (which occurred less often than overpayments).

Humana has disputed the findings of the audit. A spokesperson told NPR the company will work with Medicare "to resolve this review," and retains the right to appeal any final decision.

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DONUT Holes...

🇹🇩 Chad President Idriss Déby Itno, who ruled the country for over 30 years, died at 68 from injuries sustained in battle, according to the military.

🇪🇺 The EU’s regulatory agency concluded rare blood clots should be listed as a very rare side effect of Johnson & Johnson’s vaccine, but reiterated the overall benefits still outweigh the risks (similar to AstraZeneca’s vaccine).

🏦 Venmo will let users buy, sell, and hold bitcoin and other cryptocurrencies within its app. Dig deeper.

📝 A report commissioned by Rwanda’s government found the French government bears a “significant” responsibility for enabling the 1994 Rwandan genocide.

 

📸 Pic of the Day...

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Image: Apple

Apple released AirTag, a physical tag to help locate lost items, at its “Spring Forward” event yesterday.

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🔢 By The Numbers...

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8,000% – Dogecoin’s year to date return as of early Tuesday, exceeding the gains of the S&P 500 since 1988.

6 – The number of football (soccer) clubs that have so far confirmed their withdrawal from the proposed European Super League; more are expected to follow suit. (What is the Super League?)

80% – The percentage of countries in the world the State Department advises against traveling to due to COVID-19 concerns.

$30B – Canadian National Railway’s bid for Kansas City Southern, which has already agreed to a ~$25B sale with another Canadian company.

30% – A new study found people in their 50s and 60s who consistently slept six hours or less were ~30% more likely to develop dementia.

 

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📢🗣💬  This Week’s Poll Question…

Are you in favor of a universal basic income?*

 

Yes

No

Unsure

 

*Poll results and the best comments for each response will be featured in tomorrow’s newsletter.

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💸🔥 Today's Sponsor

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🤗 Daily Dose of Positive

🏀 The Shot of a Lifetime

Meet Makenzie Pendergrass, a 12-year-old basketball player from Henderson, North Carolina.

  • I can do anything everyone else does,” states the inspiring seventh grader, who lives with nerve damage in her right leg due to a tumor operation in infancy. Makenzie uses a wheelchair and/or walker to hustle around practices.

 

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Images: Screenshot, ABC11

She’s always wanted to play in a game, but has been unable to do so because a school rule prohibits wheelchair users from participating.

  • "I go to all of the practices to get better, but even if I am good at the sport I still can't play. It’s unfair,” shared Mackenzie in a letter to her coach.

"It tugs on your heartstrings," says Mackenzie’s coach. "Her goal has always been to play in games, but I wanted her goal to be to score in a game. That's what we focused on going into this basketball season."

 

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Mackenzie fulfilled her dream in a school game last month – not only did she get to play, but also made her first in-game-basket.

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🛸🌄📲 Calling from the Future…

🎨 Paint The Town… a team of researchers at Purdue University unveiled the whitest paint ever produced - capable of reflecting 98% of sunlight as well as infrared heat - allowing it to cool surfaces below the ambient temperature, even in strong sunlight.

🌎 Set In Stone… startup CarbonCure Technologies and UCLA CarbonBuilt, co-winners of a competition for innovation that reduces carbon emissions, both developed methods of injecting carbon dioxide into concrete to strengthen the material and decrease its carbon footprint.

🩺 Ctrl + P… Swiss biomedical research group Readily3D developed a system that can 3D-print biological pancreas tissue from a sample of human stem cells in just 30 seconds. The miniature, living pancreas models are then used in drug trials that test diabetes medication.

Wish Upon A Star… physicists studying massive neutron stars - the extremely dense collapsed cores of supergiant stars - announced that the celestial bodies may be less “squishy” than previously theorized.

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💡 Dose of Knowledge

📻 Radio City

The first commercial radio station was located in which city?

A) Chicago
B) Boston
C) New York
D) Pittsburgh

(keep scrolling for the answer)

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💡 Dose of Knowledge Answer

D) Pittsburgh

On November 2, 1920, station KDKA - out of Pittsburgh, PA  - made America’s first commercial radio broadcast.

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