Brigadoon Daily
Your daily dose of the emerging issues + independent thinkers shaping commerce + culture
November 17, 2021
Is this a Cold War?
TOP FIVE
1. Investors pivot to India after China’s tech crackdown
2. Crypto companies, on defense in Washington
3. The worst of both worlds: Zooming from the office
4. Watch: Introducing, Selma Blair
5. USA to co-host T20 cricket World Cup in 2024
BRIGADOON EVENT
Today: Brigadoon Author Talk @ 2:00 pm ET
Why nature makes us happier, healthier, and more creative
Florence Williams | Author of The Nature Fix
More @ thebrigadoon.com/events
GLOBALIZATION + STATECRAFT
Axios: Biden's meeting with Xi "substantive" but no breakthroughs
Biden and China's Xi hold 'expansive and substantive' virtual meeting: Politico reports a “respectful and open” dialogue aims for a tone shift in the bilateral relationship.
Biden urges Xi not to allow competition to ‘veer into conflict’: FT reports the leaders held a first virtual meeting as ties between the US and China fray over Taiwan.
Biden, Xi cool down hostilities in virtual meeting: WSJ reports Afghanistan, North Korea, and Iran, as well as human rights, climate change, and concerns over Taiwan, were among topics US and Chinese presidents discussed.
US and China agree to hold talks on nuclear arsenals: FT reports the breakthrough came during Monday’s virtual summit between Joe Biden and Xi Jinping.
Biden, Xi discuss dicey topics at virtual summit, reach no breakthroughs: The meeting was an acknowledgment that conflict, whether over trade or the South China Sea, can have grave repercussions around the world.
WP
+ The US and China have agreed to ease Trump-era visa restrictions for journalists on a reciprocal basis
+ If US companies don’t operate in China, “it will be difficult to maintain their global leadership when British, European and Japanese firms do.” -- Hank Paulson, former Treasury secretary + Goldman Sachs CEO
Biden-Xi summit: Can the US and China keep competition under control? Although the virtual meeting between the US and Chinese leaders did not lead to any big breakthroughs, both sides expressed willingness to cooperate on "guardrails" to prevent competition from turning into a catastrophe.
DW
A question hangs over the summit: Is this a Cold War?
NYT
Chinese threat calls for Five Eyes expansion: As Beijing eyes Taiwan and cozies up to Russia, the intelligence alliance needs the help of Japan.
Roger Boyes
Biden administration soon to announce diplomatic boycott of the Beijing Olympics
Josh Rogin
+ Companies that do business in China — especially Olympics sponsors — are concerned Beijing will use the 2022 Winter Games as a loyalty test.
Secretive Chinese committee draws up list to replace US tech: Bloomberg reports China is accelerating plans to replace American and foreign technology, quietly empowering a secretive government-backed organization to vet and approve local suppliers in sensitive areas from cloud to semiconductors, people familiar with the matter said.
Investors pivot to India after China’s tech crackdown: Paytm’s $2.5bn listing is expected to be the country’s largest-ever IPO. But is its start-up sector already overheated?
FT
Subs taskforce mulls new Collins before nuclear boats arrive: Defence officials are weighing up whether Australia will need a new conventional submarine to avoid a capability gap while the navy waits for a fleet of nuclear-powered boats to be delivered.
AFR
The Bank of England governor Andrew Bailey has said that inflation is making him feel ‘very uneasy’. However, he defended not raising interest rates because of unemployment fears.
The German energy regulator has suspended approving the Nord Stream 2 pipeline. Officials said Gazprom had not set up a subsidiary under German law.
Coronavirus: Central Europe's focus on cars backfires: DW reports the COVID-19 pandemic has slashed car demand and disrupted the industry's supply chains. That's especially bad news for the likes of the Czech Republic and Slovakia, whose economies are highly dependent on the sector.
Biden tried to push Putin aside. The Russian isn’t having it. Politico reports Putin’s troop buildup near Ukraine is spurring criticism that President Biden and his team aren’t tough enough on the Kremlin.
Ethiopia: UN warns of 'disturbing' mass arrests of Tigrayans: DW reports police have previously denied that the arrests are ethnically motivated. Almost 200 young children have starved to death in Tigray.
Egypt will host COP27. Expect criticism over fossil fuels, human rights. WP reports Egypt's continued reliance on fossil fuels will probably face criticism at COP27, just as the British government's potential approval of a proposed oil field drew pushback from climate activists at COP26.
Cuba’s government deploys security forces to prevent protest: WSJ reports authorities to detain activists and militants gather at the homes of organizers to stifle pro-democracy rallies.
AFP: Biden bars Nicaragua officials, including Ortega couple, from US
How Goldman's BRICs flew then faded in two decades
Bloomberg
COVID
Parties negotiating to form the new German government have agreed to put restrictions on the unvaccinated, according to ARD. Measures would include requiring the unjabbed to show a negative test before using public transport.
AFP: Munich calls off Christmas market for second year amid COVID-19 surge
The Irish government will require COVID status certification for gyms and hairdressers, according to RTÉ.
Netherlands enters 3-week partial lockdown after COVID surge: Politico reports bars, restaurants, and non-essential shops to close early.
+ A Hong Kong-based airline is telling passengers to ‘avoid unnecessary social contact’ for 21 days before their flight.
Fortune: JPMorgan CEO Jamie Dimon gets the ‘Nicole Kidman’ quarantine exemption in Hong Kong—and locals aren’t happy
+ Hong Kong’s chief executive has said that JP Morgan chief Jamie Dimon was exempt from the three-week COVID quarantine because JP Morgan is a ‘very big bank’. HSBC‘s chairman has just emerged from three weeks of isolation.
AFP: New York to welcome back crowds to Times Square on New Year's Eve
Biden administration to announce purchase of 10 million courses of Pfizer anti-COVID pill: WP reports officials see the treatment, and another by Merck, as potential game-changers to help tame the pandemic.
Pfizer will allow manufacturers in lower-income countries to make its anti-COVID pill. It is the first time a US pharma company has shared the technology for a COVID product.
CNBC: COVID was the third leading cause of death among Americans in 2020, behind heart disease and cancer, CDC says
+ COVID-19 was the third leading cause of death in the US in 2020, behind heart disease and cancer, according to a new CDC study.
+ More than 3.3 million deaths were reported in the US last year, a 16% increase over 2019.
+ The deadliest weeks of 2020 were at the beginning of the pandemic in April and then in the middle of the holiday surge in late December.
POLITICS + CAMPAIGNS
FT: Biden set to announce Fed chair nominee in ‘about 4 days’
+ The choice is between Powell, who was appointed by Donald Trump and assumed the role in 2018, and Lael Brainard, a governor who has the backing of progressive members of the Democratic Party for her more stringent stance on regulatory matters.
Biden administration plans imminent booster expansion to all adults: Axios reports the Biden administration is expected to begin the process of expanding the booster authorization to all adults as early as this week, according to a source familiar with internal planning.
Today: Biden will travel to Detroit to visit a General Motors factory and deliver remarks.
Exasperation and dysfunction: Inside Kamala Harris' frustrating start as vice president
CNN
Much ado about Kamala
Matt Stieb
‘Sidelined’ Kamala Harris fears Joe Biden could choose new heir
The Times
Secretary Pete careening toward a GOP buzzsaw over infrastructure cash: Politico reports "a lot of people will be looking for problems with how this money is spent," one Democratic strategist warned.
The Hill: House Democrats planning 1,000 events to tout accomplishments
Dem candidates go all-in on Biden spending as inflation angst soars: Politico reports with voters raising concerns over soaring prices, Democrats point to Biden’s social spending agenda as the way out.
Democrats fear steep losses in 2022 midterm House races: WSJ reports Biden’s low poll numbers, a poor showing in Virginia, and historical trends all point to Democrats struggling to keep their majority, analysts say.
Democrats remain clueless on how to prepare for the midterms
Henry Olsen
WP: Americans broadly support Supreme Court upholding Roe v. Wade and oppose Texas abortion law, Post-ABC poll finds
US Republicans can still throw it all away: Short-term electoral gains are breeding overconfidence in the party.
Janan Ganesh
+ Republicans have taken the lead in the FiveThirtyEight polling average for the generic congressional ballot, 42.4% to 42.1%.
The Times: Chris Christie tempted by White House run as Republicans hold biggest poll lead in 40 years
Bumbling Biden’s caretaker presidency has cratered
Rich Lowry
Left-leaning media seek a misinformation monopoly: They peddle their own falsehoods while trying to drive opposing views out of circulation entirely.
Gerard Baker
Crypto companies, on defense in Washington, scramble to assemble a lobbying machine: The booming sector has recruited former top regulators and congressional insiders but is struggling to coordinate its approach.
WP
DISRUPTION + INNOVATION
LA’s potential as a cyclist’s paradise rests on a cultural gear shift: Cars are still king in a city that has otherwise perfect conditions for bike-riding.
Christopher Grimes
COMMERCE
Zoopla says rents are rising at the fastest pace since 2018, because people are moving back to cities.
+ The promise of a "metaverse" is being used by companies across entertainment, tech, and gaming to lure developers and excite investors.
Investors lulled into ‘dreamland’ by central banks, warns Bill Gross: Pimco founder says stimulus and low-interest rates have created a ‘dangerous’ situation.
FT
EV maker Rivian eclipses Volkswagen in value while Lucid overtakes Ford: FT reports the stock prices of electric car industry start-ups to climb past established rivals despite lack of sales.
Automotive valuations:
Tesla: $1 trillion
Toyota: $305 billion
Rivian: $153 billion
Volkswagen: $93 billion
Lucid: $91 billion
GM: $91 billion
Ford: $79 billion
NIO: $68 billion
BMW: $64 billion
Honda: $52 billion
Volvo: $48 billion
Ferrari: $47 billion
Nissan: $24 billion
Mazda: $6 billion
JPMorgan Chase sues Tesla over Elon Musk’s tweets.
BMW calls time on endless customization as electric costs bite: FT reports the German owner of Mini brand is scaling back modifications to reduce complexity.
Inside the cult of crypto: Debate? No thanks. Doubts? Not welcome. How the world of cryptocurrency diehards really works.
FT
Fortune: Crypto plunge sends Bitcoin under $60,000 after news of tighter scrutiny in US and China
Casper, the direct-to-consumer mattress company, will sell itself for less than its IPO price.
Google executives told employees the company can pursue Pentagon contracts without violating its principles prohibiting the use of AI for weapons.
Buy 12 books, get an NFT: How one author got orders for a million books: Entrepreneur Gary Vaynerchuk said he’d give an NFT to anyone who bought 12 copies of his new book, ‘Twelve and a Half.’
WSJ
The worst of both worlds: Zooming from the office: NYT reports work life for many is in a mushy middle ground, and what’s at stake isn’t just who is getting talked over in meetings. It’s whether flexibility is sustainable, even with all the benefits it confers.
MARKETING + COMMUNICATIONS
Marcus Rashford's social media usage added to GCSE media studies curriculum: It will form part of the exam board AQA's commitment to equality, diversity, and inclusion and follows the footballer's increasing profile and influence on a series of social issues during the pandemic.
Sky News
SPACE + SCIENCE
50 images of the universe from the Hubble Space Telescope
Stacker
NASA isn't likely to land astronauts back on the surface of the Moon before 2026, according to a new report.
Best books of 2021: Science
FT
PERFORMANCE
Hot streaks in your career don’t happen by accident: First explore. Then exploit.
Derek Thompson
CULTURE
Jeff Goldblum is on the brink of doing his best work: In a conversation with Carrie Brownstein, the actor opens up in his own strange way.
Vulture
Watch: Introducing, Selma Blair: Director Rachel Fleit’s deeply intimate and powerful feature of one woman’s journey of personal acceptance and resilience, Introducing, Selma Blair, follows the singular actress as she reckons with the next chapter of her life after being diagnosed with Multiple Sclerosis. The film explores complex issues ranging from dissecting deep-rooted myths about beauty, and the collective fear around disability and mortality. Complete with her trademark wit and humor, the film follows Blair as she reconciles a journey of monumental transition.
Trailer
Rise of tech spurs business schools to focus on entrepreneurship: MBAs are becoming popular for would-be founders to fill skills gaps and build their networks.
Bloomberg
+ “This is possibly the most important decision for Judaism in the 21st century.” -- David Zvi Kalman of the Shalom Hartman Institute, on whether rabbis will declare plant-based “pork” kosher.
Blue-chip art from bitter Macklowe divorce brings $676 million at Sotheby’s: NYT reports a Sotheby’s executive called the court-ordered sale on Monday night “the most valuable single-owner auction ever staged.”
Frida Kahlo self-portrait expected to break auction record: Frida Kahlo's painting "Diego and I" is a symbol of the iconic artist's passionate and painful relationship with Mexican muralist Diego Rivera. Now it's up for auction.
DW
SPORT
Bloomberg: Alfa Romeo Racing team picks first Formula 1 driver from China
+ Guanyu Zhou to race for the Italian sponsored team from 2022
+ Shanghai Grand Prix planned to resume in 2023 after the pandemic
Skiing hut-to-hut in the Maine wilderness: An effort to conserve the state’s 100 Mile Wilderness has created one of the best lodge-to-lodge cross-country ski routes in the United States.
NYT
Photos: Wrigley Field transforms from a baseball field to a football field
Chicago Tribune
Underdog no more, a deaf football team takes California by storm: The California School for the Deaf, Riverside, is steamrolling its opponents, electrifying a campus that has seen more than a few athletic defeats.
NYT
The International Olympic Committee on Tuesday announced a new framework for transgender athletes, as well as those born with intersex conditions that forego a "one-size-fits-all" approach in favor of encouraging each sport's governing body to come up with appropriate policies.
USA to co-host T20 cricket World Cup in 2024: AFP reports the United States will co-host its first major cricket tournament in 2024 when it stages part of the men's T20 World Cup, the International Cricket Council (ICC) announced on Tuesday. The baseball-loving country, which has never appeared at either a T20 or a 50-over World Cup, will host the event along with the more established cricket nations of the West Indies.
Boston Red Sox owner in talks to buy Pittsburgh Penguins: WSJ reports Fenway Sports Group, the holding company that owns the Boston Red Sox, is in advanced talks to buy the hockey team.
Enjoy the ride + plan accordingly.
-Marc
Curation and commentary by Marc A. Ross | Founder @ Brigadoon
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