the future: FOR SALE.
BIG DEAL: BOEING SEEKS TO RAISE $19B IN CAPITAL —> Boeing just launched a nearly $19 billion share sale—one of the largest by a public company—to shore up its liquidity and prevent a potential credit downgrade.
—> HOW BIG A DEAL? BIG. This sale would mark the biggest U.S. share sale since SoftBank’s T-Mobile stake sell-off in 2020, according to Bloomberg.
Meanwhile…
AT&T STRIKES $1B DEAL FOR HIGH-SPEED INTERNET EXPANSION. AT&T announced a $1 billion, multi-year deal with Corning in an effort to take on Comcast in broadband’s high-speed internet market, per Reuters.
—> HOW FAST CAN YOU STREAM? With the U.S. wireless market slowing, telecom giants like AT&T and Verizon are pivoting to the broadband market, taking on longtime players like Comcast in the race for faster internet.
TRUMP GOES AFTER TAIWAN ON CHIPS —> “You know, Taiwan, they stole our chip business ... and they want protection,” Trump told Joe Rogan during his appearance on the podcast. "That chip deal is so bad,” Trump said on the podcast, adding that the subsidies went to "rich companies."
—> IN THE RED: SHARES OF TSMC CLOSED DOWN 4.3% on Monday, per CNBC.
—> READ THIS AGAIN, via CNBC: “Some of the harshest export controls on China implemented under the Biden administration dramatically affected how much Nvidia and other semiconductors can sell into the country. Pre-export controls, Nvidia’s business in China generated over 25% of total sales. China now accounts for less than 10% of Nvidia’s revenue.”
REALITY CHECK ONE: DJT stock skyrockets following Donald Trump's inflammatory MSG rally. Yahoo Finance: “Trump Media & Technology Group stock (DJT) extended its five-week surge on Monday, rising as much as 20% following Donald Trump's highly criticized rally at Manhattan's Madison Square Garden (MSG) over the weekend.”
REALITY CHECK TWO: Economists Warn of New Inflation Hazards After Election — regardless of outcome. Nick Timiraos in WSJ:
A punishing 2½-year fight to bring inflation down appears to be succeeding. The election could change that.
Inflation has fallen thanks to higher interest rates and big assists from healed supply chains and an influx of workers. But whether borrowing costs and price growth continue to ease next year could turn heavily on policy choices by Donald Trump or Kamala Harris.
Both candidates support policies to boost growth that might keep inflation from falling any farther. But economists and even conservative-leaning advisers worry that the ideas backed by Trump, in particular, risk stoking the embers of inflation.
Those include his proposals to slap across-the-board tariffs on imported goods, to deport workers, and to lean on the Federal Reserve to lower interest rates.
hello, future. it’s me, kev.
…and this is a dispatch from the digital frontier. Your one-stop shop for markets, tech, and the future. The day is 302. The year is 2024. The planet is Earth. My name is Kevin Cirilli —> LinkedIn.
Back to the future...
one thing we can all agree on…
DOOM, via Fox News: Presidential election is making most Americans anxious, surveys say.
GLOOM, via MSNBC: Election anxiety? Deepak Chopra's tips for managing election stress.
PERFUME, via Rollingstone: Trump’s Pre-Election Grifting Blitz: Coins, Crypto, Assassination Attempt Cologne.
PHILLY D.A. SUES MUSK OVER $1M TRUMP VOTER LOTTERY —> Philadelphia DA sues Elon Musk and his super PAC over $1M sweepstakes… DA Larry Krasner called on a state judge to shut down the tech billionaire’s “illegal lottery scheme.”
—> DIRECT QUOTES from the legal doc: “America PAC and Elon Musk are running an illegal lottery in Philadelphia (as well as throughout Pennsylvania)… it is indisputably an unlawful lottery….”
—> DIG DEEPER, via the court docs: “America PAC claims it has received over 280,000 petition signers who are registered voters in Pennsylvania, and on information and belief, among those 280,000 petition signers are residents of Philadelphia County.” SOURCE MATERIAL: Read the 120-page legal complaint here.
APPLE INTELLIGENCE LAUNCHES —> More via CNET:
The latest iOS update introduces a handful of Apple Intelligence features to some iPhones, like writing tools for emails… But as CNET reports, before you use these features though, you have to join the Apple Intelligence waiting list.
Go to Settings > Apple Intelligence & Siri > Join the Apple Intelligence Waitlist and tap Join Waitlist. Once you're approved, you'll get access to the above Apple Intelligence features.
SPACE JAM: NASA generated $76 billion for US economy in 2023. NASA’s missions supported 304,803 jobs nationwide, and generated an estimated $9.5 billion in federal, state, and local taxes throughout the United States. Source: NASA.
SPACE RACE: Europe's bold 'Explore 2040' campaign aims to get astronauts to the moon and Mars. The European Space Agency (ESA) is charting a bold course for the future, aiming to solidify Europe's position in space exploration through the "Explore 2040" initiative. Source: Space.com.
SPACE WEATHER: Geomagnetic Storm Warning issued after strong flare erupts from Sun. Aurora lights are possible from New York to Wisconsin to Washington state on Monday after an X1.8 solar flare sent blasting from the Sun on Saturday. Source: Fox Weather.
DARK TIMES ON THE DARK WEB — Feds see uptick in online chatter among extremists preparing for ‘civil war.’ POLITICO’s Betsy Woodroff Swan reports: “U.S. intelligence authorities are seeing a rise in online discussions among domestic extremists about preparations for what they imagine to be an imminent civil war, according to a Department of Homeland Security report.”
QUICK Q, via Apple Insider —> Is Apple Vision Pro a 'first year flop' or tomorrow, today?
WHAT’S OLD IS NEW: Apple may tap go retro for its smart home display, via Apple scooper Mark Gurman over at Bloomy.
RETRO TECH IS HAVING A MAJOR MOMENT. Flip phones… analog clocks… old gaming systems… Vintage electronics: Retro tech is hot for kids and their parents, via USAT. Don’t believe me?
—> POPULAR MECHANICS: Banish your cellphone from the bedroom. Retro alarm clock sales (like we told you about a few weeks ago) are booming because turns out nobody wants to doom scroll anymore…
—> NYT: As Cassettes Come Back, the Dilemma Is Finding a Tape Deck. Remember putting the pencil in the thingy to rewind?
—> VOGUE: (yes, Vogue… Axios could never…) From Razr phones to iPods, retro tech is the new fashion statement… “At the dawn of the 2000s, there was no status symbol glitzier than a rhinestone-encrusted Sidekick… now it’s all anybody wants.”
Photo: Victor Spinelli/ Getty Images
Will POLITICO bring back the Blackberry?…
RSVP TO MEET THE FUTURE with Lt. Gen. (Ret) Mary O’Brien, Kara Swisher, and me at George Washington University. If you’re a young professional or undergraduate student, please join us this week for a conversation on election, tech, and all things with NYT best-selling author (and all around tech legend) Kara Swisher. Buy her Burn Book here.
with gratitude,
kev
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