Thursday, August 5, 2021

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the DONUT

Good morning and welcome to Thursday.

  • ⏰🚀 Ready, Set, Go: Today’s newsletter takes 4.62 minutes to read. (With the 360° view: +3.26 minutes.)

👇📰 Quick Bits

🇪🇸 I Took A Job In Ibiza

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Image: Reuters

🎁 DONUT Headline: Ibiza is experiencing an increase in COVID-19 cases authorities linked to partying, leading local police to consider an out-of-the-box solution.

If you’re part of the Great Resignation, between 30-40 years old, not from Ibiza, and enjoy getting schmacked, we’ve got a job opportunity to consider.

  • According to a local news outlet, Spanish police are looking to set up a “party-tracking” crew of foreigners to infiltrate parties flouting COVID regulations in Ibiza and report back to the government (police personnel are spread thin and locals recognize them when they try it).

Translation: You’ll get paid to party in Ibiza, but you’ll be working as a narc *ahem* 21 Jump Street-type undercover agent for the police.

📜 The backstory… In June, the Spanish government was mandating establishments like bars and clubs in the party zone stay shut between 9.30 p.m. and 8 a.m. – and business owners who organized parties and flouted the regulations could be fined up to $676,000.

  • The fines haven’t stopped the parties, only moved them to private homes, despite the government also banning inter-household gatherings.
  • As of August 4, Ibiza recorded a 14-day average of 991 daily cases, up from an average of 40 to 50 cases a day in May.

🔭 Zoom out… In June, the EU recommended its 27-member states allow travelers from the U.S., though each country can decide whether to impose additional requirements, such as a negative COVID test or mandatory quarantine period. Some EU members, including Greece, Croatia, and Cyprus, had been allowing Americans to visit since the spring.

  • A few destinations, such as Spain, France, and Greece, have reinstituted some COVID restrictions to curb rising case numbers, but have so far stopped short of restricting international travel.

📝 The bottom line: Travel in the age of COVID is complicated and ever-changing. If you’re headed internationally soon, make sure you’re familiar and up-to-date with local rules and regulations – though if you take the Ibiza job, you’ll be helping make ‘em.

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🇨🇳🎮📉 Video Games & the CCP

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Image: Reuters

🎁 DONUT Headline: A Chinese state-run newspaper criticized online gaming as "opium for the mind" and called for tighter regulation, causing Tencent and other gaming companies to lose billions in market cap.

Shares of Chinese tech giant Tencent, which owns Honor of Kings (the world’s highest-grossing video game over the past two years) and League of Legends-maker Riot Games, fell more than 10% during trading on Tuesday after a state-owned newspaper criticized online gaming as “opium for the mind” and called for tighter regulation. 

  • The article disappeared and then reappeared yesterday without some of its harsher wording (sending shares back up 4%) – but not before Tencent banned in-game purchases for minors and pledged to further limit play time for the youngest players. The company also broached the possibility of the industry banning games altogether for those under the age of 12.

📝 Regulation is #trending… In recent months, the Chinese government has intensified its scrutiny of the country’s tech giants over data security and monopoly concerns.

  • In April, the Chinese government blocked the IPO of the world’s largest fintech company, Ant Group, and forced it to restructure.
  • In May, China banned financial institutions and payment companies from providing cryptocurrency-related services and warned investors against crypto trading.
  • Last month, Chinese regulators clamped down on ride-hailing app Didi Global Inc. less than a week after it debuted on the NYSE in one of the largest U.S. IPOs of the past decade.

💰 Why it matters: International investors have lost more than $1 trillion this year as a result of China’s changing regulatory environment. Nine of the top 10 market value losers in July were Chinese firms, per Bloomberg.

👁️ Looking ahead… All eyes are on what comes next from Chinese regulators. Companies are increasingly being faced with a choice: buck the regime or assuage Beijing – and every one so far has ultimately chosen Option 2.

From the Right: WSJ

From the Left: CNBC

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🍩 DONUT Holes…

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Image: PA Media

  • ☝️ Barbie maker Mattel created a doll of Professor Dame Sarah Gilbert, the scientist who designed the Oxford/AstraZeneca coronavirus vaccine.
  • 📽️📱 A film distributor is using Facebook to debut a movie exclusively via a ticketed live event for the first time ever. 
  • 💰 Rihanna is now a billionaire with a net worth of about $1.7 billion, according to Forbes. An estimated $1.4 billion comes from the singer’s Fenty Beauty line.
  • 🎓 Target will pay 100% of the cost of tuition, fees, and textbooks for part- and full-time workers who pursue a qualifying undergraduate degree at more than 40 institutions.
  • 🤑 Robinhood shares increased 50% yesterday; they've jumped over 100% this week following last week’s IPO.
  • 🇧🇾 Update on Belarus & the Olympics: The IOC said it has received a written report by Belarus’ National Olympic Committee regarding the case of sprinter Krystsina Tsimanouskaya, but has not yet made it public. (Find out what we're talking about) | Stay on top of everything Olympics.

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🔥 The Hot Corner

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💬 Heard Through the Grapevine… "WHO is calling for a moratorium on boosters until at least the end of September to enable at least 10% of the population of every country to be vaccinated. To make that happen, we need everyone's cooperation, especially the handful of countries and companies that control the global supply of vaccines.” – WHO Director-General Tedros Adhanom Ghebreyesus, during a news briefing in Geneva on Wednesday.

  • He added that more than 80% of the 4+ billion vaccines administered globally have gone to high and upper middle income countries, which account for less than half of the world’s population. (From the Left | From the Right)

🔢 Stat of the Day... Elon Musk made over $6.65 billion in 2020, topping Bloomberg's list of highest-paid CEOs in America. (The full Bloomberg Pay Index.)

📖 Worth Your Time… Murder in Whip City: A respected professor shot dead through the mansion window. A quaint New England town shaken to its core. One all-consuming obsession.

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🗣👂 Dose of Discussion

📝 Biden Administration Report Card

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Image: CNBC

🎁 DONUT Headline: More than six months into the Biden administration, roughly half of Americans approve of the job he is doing.

CNBC's latest All-America Economic Survey found President Biden maintained his overall approval rating among voters but regressed in two key areas compared to last quarter's survey – the economy and COVID-19.

  • Biden's 48% approval rating in July is lower than in February when a special online edition of the All-America Economic Survey found it stood at 62%.

📝 Polls, Polls, & More Polls... The latest monthly Gallup poll found Biden's job approval rating stood at 50% in July – the lowest it's been since he took office.

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  • Per Gallup, Biden's overall drop in approval can be tied to falling support among Independents and Democrats, while Republican approval - or lack thereof - is somewhat constant.

Biden also reached an all-time low in job approval in the RealClearPolitics aggregate polling average.

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Interestingly, RCP data shows Biden's disapproval rating increased by nearly ten points over the past six months, while his approval rating fell by just five points.

  • Translation: A portion of undecided Americans made up their mind about President Biden's job performance in the first few months following his inauguration.

📜 Historically speaking... U.S. presidents' job approval ratings are typically higher than average early on in their administrations.

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👁️ Looking ahead... There's plenty of time for President Biden's approval rating to change – for better or for worse.

  • Presidential approval ratings in recent years have been a decent indicator of what will happen in the midterms, per FiveThirtyEight.
See the 360 View

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📣🗣💬 This Week’s Poll Responses

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Yes – "Vaccinations are how we limit hospitalizations and death from COVID so we can all go back to normal. Unfortunately it is still not a "personal choice" to not get a vaccine as the unvaccinated can cause faster spread or help create new variants. There are also countless others with true medical needs that can't get the vaccine yet (or ever) so it isn't just YOU who is making a choice on not getting vaccinated and bearing the risk."

No – "If we allow an entire state's government to access our medical history we are enabling them to have access to our personal lives and freedoms and change them for their benefit. Vaccine mandates also cause rifts and discrimination to those who believe that the vaccine isn't the right step at this time since it has not yet been fully approved by the FDA."

Unsure – "It depends on what the proof of vaccination criteria is. I know folks who got blank cards and filled them out themselves. A card in someone's wallet is not proof."

+Note on Sample Size: We received 1,075 responses. 👏🥳 Some may have been lightly edited for grammar or clarity.

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🛸🌄📲 Calling from the Future…

💧 Respect the Drip

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Image: Jon Nazca/Reuters

🎁 DONUT Headline: A Spanish engineer invented a machine that extracts drinking water from thin air to aid people living in arid regions.

Enrique Veiga, an 82-year engineer from Seville, first designed the machine during a harsh drought in southern Spain in the 1990s.

  • The machine functions by using electricity to cool air until the water vapor in it condenses – effectively harnessing the process that causes condensation on air-conditioning units.

The device, which is capable of operating in a desert, can function at temperatures of up to 104℉ and can produce water in environments with as little as 10% humidity.

  • A small version of the apparatus can produce nearly 20 gallons of water a day. A larger version can produce more than 1,000 gallons in the same amount of time.

Veiga’s company, Aquaer, is now scaling his invention, working to install the machines in refugee camps in Africa.

Keep reading.

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🤗 Daily Dose of Positive

👶🎓Boss Baby

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Image: Sara Lundberg

Lawson Lundberg was recently admitted to Mensa, the national intelligence association, after scoring an impressive 151 on his first-ever IQ test. For reference, Albert Einstein was estimated to have an IQ between 160 and 180 in adulthood.

  • [After] about 21% of the IQ test, he didn’t get any of the questions wrong, so they ran out of questions to ask him.

Lawson has memorized all 50 states and their capitals, every country and flag in the world, and understands complex phonics and currency problems.

  • Well yeah, I can do that too…’ you may be thinking. The catch? Lawson is only three years old.

Keep reading.

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💡 Dose of Knowledge

📺 News Flash

What was the first network in the United States to have 24-hour news?

A) Fox News
B) CNBC
C) Bloomberg
D) CNN

(keep scrolling for the answer)

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💡 Dose of Knowledge Answer

D) CNN

Cable News Network (CNN) was the world's first 24-hour television news network when it debuted in June 1980, but it wasn't until the network covered the Gulf War in 1991 that it became a household name.

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🍩 Daily Sprinkle

"Unless you try to do something beyond what you have already mastered, you will never grow."

–Ronald E. Osborn (1917-1998)

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