August 17, 2020

empowering you with insights and information from the edge of today’s headlines

Summer Snippets

Politics: Last week we celebrated Shark Week, and this week begins the first of the virtual conventions. Shark Week ended with an Australian man literally punching a great white shark to save the life of his wife, so we are not sure what omen that portends for the Democratic National Convention which begins today.

While times have changed, we still have a long way to go. When Geraldine Ferraro was announced as the VP candidate during the 1984 DNC, Tom Brokaw introduced her as “the first woman to be nominated for vice-president…size 6.” The second woman to be nominated by a major party, Sarah Palin also gave advice to Kamala Harris through Instagram with some helpful nuggets: "fight mightily to keep your own team with you," "don't get muzzled" and "don't forget the women who came before you."

Last week, a member of Trump’s campaign compared Kamala Harris to Marge Simpson. Marge Simpson had something to say.

President Trump briefly flirted with the idea of pardoning Edward Snowden last week. While the ACLU supports this move, most of the intelligence communities find it appalling. Snowden, who is being sued by the US government as it attempts to clawback any earnings related to classified information, reported that he made over $1.2M in speaking fees. We are happy to live in a world where Snowden’s revelations have come to light, and we prefer the Snowden method of curating selective content to be released publicly (rather than the Wikileaks’ dump it all version).

National Parks: Earlier this month, the $3B Great American Outdoors Act was signed into law (you may have seen or heard of the Yo-semite snafu). The bill aims to maintain our national parks and other public lands, although there is apparently a $20B maintenance backlog, but it’s a start.

On the flip side, the administration today signed an executive order that will allow drilling in the Arctic National Wildlife Refuge. The Refuge provides habitat for more than 270 different species, and the Department of Interior has concluded that building pipelines would not pose a threat to the wildlife. The Department estimates that there could be 11B gallons of recoverable oil in the Refuge, although with fossil fuel use (and prices) at an all time low, we are not sure the economic benefits will ever outweigh the environmental costs.

NBA: The NBA partnered with the Yale School of Public Health and sponsored a study for saliva-based COVID testing with its players and staff inside the Orlando bubble. The SalivaDirect test has now been granted emergency use authorization by the FDA which will help in boosting testing across the country. The test is less invasive (no swab up the brain) and is less expensive.

Despite all the time and effort (and success) of the NBA’s bubble, NBA television ratings are suffering. Viewership for ABC’s weekly basketball broadcast declined by nearly a third, from 1.6 million when the league returned to 1.1 million just a week later. Apparently, we are all sick of watching and participating in Zoom meetings, so watching a game loses its appeal when the fans are cardboard or Zoomed in. We’ll see what happens when fans return to the field — the owner of the Dallas Cowboys, Jerry Jones, is selling tickets for the 80,000 capacity stadium and is “confident” fans will return for home games.

Technology: We’ve heard of autonomous cars, but what about roads that can talk? Utah and Georgia and installing “vehicle-to-everything” technology in stretches of roads that will allow the road to flag potholes, traffic congestion and accidents. The roads can send signals to cars and to the Department of Transportation to speed help if there is an accident or suggest a new route if there is congestion. Cars have to be equipped with special sensors that transmit data and “talk” to the roads, but with self-driving technology we are already getting close to this level of data transfer.

Google has announced the Android Earthquake Alerts System that will become the “world’s largest earthquake detection network” using the sensors that are already pre-installed in its Android phones. (The accelerometers in our phones detect speed and motion and can function as seismometers, detecting ground movement.) By using the network of Android phones, Google can push out alerts giving users up to a minute warning of a potential shock. California already has an app called ShakeAlert that uses a similar system, and Android will provide data to beef up the alerts.

Google has also added some new features into its travel search. While in the before times, when we searched for a travel option we looked at flights and hotels, today we have to be aware of travel restrictions and COVID statistics. Google has added COVID trends in the area and travel cancellation policies to its front page, so if you are brave enough to travel, at least you’ll be informed.

Business: With most US companies getting comfortable with work from home (or anywhere) for the foreseeable future, the concept of a corporate HQ is losing some steam. Why build a massive campus with amenities when your workforce will be stuck at home or scared to enter? REI has found this out the hard way. The outdoor retailer built a custom campus in Washington featuring outdoor staircases, skylights and a courtyard of native plants. But REI has decided to sell the property and instead focus on smaller offices. Trading HQ for WeWork or the great outdoors? Personally, we’d prefer the WFH stipend :)

With the pandemic, Disney has been forced to rethink its business model. Obviously, Disney Parks and Experiences had a rough 2020 (the segment’s revenue fell by 85% in the 2Q 2020). The bright spot (and great timing) was the launch of Disney+ (which hit the market last November). Disney’s streaming service has 60M subscribers (compared to Hulu in which Disney has a stake at 35M.) Disney announced last week that it will begin a restructuring by shutting down more than 20 international channels, making Mulan available for purchase online, and shutting down the Frozen musical.

Can’t go on a Disney cruise? How about a cruise to nowhere? Several cruise lines have “reopened” for business with strict COVID protocols which include no port calls or shore excursions. The cruises, mostly out of Europe, sail with 60% capacity and essentially leave port for a few days, hang out in the ocean and the guests are pummeled with onboard entertainment. The guests have strict safety protocols including masks, temperature checks and limited capacity. Most cruise lines were already equipped with a passenger tracking system which makes containing potential outbreaks a little easier. Pack your bags and your mask and head to the Fiesta Deck, if you are brave enough.

Ryan Reynolds’s Aviation Gin was just purchased by Diaego for up to $610M. You may remember Aviation Gin for its marketing campaigns using the Peloton Wife and reacting to the Fyre Festival. We hope Diaego (which owns Guinness, Jonnie Walker, Smirnoff, and many other brands) keeps Reynolds around for his sense of humor. No word on when/if he’s selling Mint Mobile.

Tidbits: Bailey’s is getting in on the culture act as well. Bailey’s sponsors the Women’s Prize for Fiction and has re-released 25 titles written by women which were originally published using male pen names. The books are being re-issued with the authors’ actual names including Middlemarch and A Phantom Lover.

SpaceX has announced its next manned flight will take off on October 23. This mission will carry four astronauts to and from the International Space Station.

Want to feel like a royal? Buckingham Palace is putting some of its royal art on display in the Queen’s Gallery — the main public art gallery of the Palace. Normally these works are kept in the private state rooms, but due to renovations, the Queen is moving some of her most treasured pieces into public view. The collection will include a Rembrandt, a Vermeer and more.

— Lauren Eve Cantor.

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