 | Good morning. Here's a conversation starter for your road trip this weekend: If you're going to lose your job, would you prefer to be replaced by another person or a robot? If you're curious, new research shows that people would rather lose their job to a robot. |
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 | S&P | 2,938.46 | +1.89% | | | | NASDAQ | 8,039.16 | +2.24% | | | | DJIA | 26,381.99 | +1.44% | | | | | | 10-YR | 1.720% | +3.6 bps | |  | GOLD | 1,515.20 | -0.29% | | | | OIL | 52.79 | +3.33% | | | *As of market close - U.S. markets: Do you believe in miracles? YES! The S&P erased its losses for the week, and global bond yields shot back up. Just five days ago, everyone was losing their minds over a potential currency war with China.
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Francis Scialabba | On Thursday, the UN published the fruit of two years' work by 107 scientists from around the world. It's yet another alarming report on human contributions to climate change, but this time, your literal food's on the menu. "Multi-breadbasket failure" Agriculture, forestry, and other land uses are causing 23% of global greenhouse gas emissions. Soil holds carbon, so as we degrade natural land, its ability to store carbon decreases. A co-author of the report told the AP "the threat of climate change affecting people's food on their dinner table is increasing," and chances of "multi-breadbasket failure" are rising. - Food is getting more expensive, crop yields are declining, and nutrient and protein levels are decreasing.
- Nearly 30% of food is lost or wasted (accounting for as much as 10% of greenhouse gas emissions), while over 820 million people are undernourished.
- If consumption patterns continue, we'll need additional tracts of land close to the size of two Indias to feed the projected 9.8 billion residents of 2050.
The report stressed the need for immediate and substantial action, and that businesses are stakeholders as much as governments, consumers, local communities, and land managers. It says they need flexible strategies, strong ties with the public sector, and to sort out their priorities. We can stop a lot of it. We "just" need… - Better agricultural processes (like no-tilling farming and improved targeted fertilizer application)
- Plant-based diets with less red meat
- Reforestation
- More biofuel development
Let's talk solutions In the private sector, we're seeing more innovation around food production. NJ-based AeroFarms raised $100 million last month to expand its indoor, vertical farm warehouses. Solar Foods is readying a 2021 launch for a high-protein and -carb ingredient made entirely out of CO2, water, and electricity. And don't forget Giant Leap Week favorite cellular agriculture technology. Startups are already producing cell-for-cell copies of meat products and trying to scale so you can afford them.     |
Flickr, Quote Catalog, uber, (CC BY 2.0) | When you get your air conditioning bill this month, just remember: Uber said it lost more than $5.2 billion last quarter. Posting your biggest quarterly loss ever = not the most enjoyable way to start an earnings call. Yes, about $3.9 billion of that gigantic loss can be chalked up to stock-based compensation related to its May IPO. But the remaining $1.3 billion is still almost double what it lost a year ago. Plus, Uber (-5.63% after hours) revenue increased 14% year over year, its slowest quarterly growth ever. Nowhere is the company's transition from hypergrowth → hypogrowth more evident than in Latin America, where revenue fell 24% from last year. You know what? It's a Friday in August...let's talk about some positives. - Gross bookings rose 31% to $15.8 billion, showing there's still demand for its core ride-hailing and food delivery services.
- The price war with competitors is nearing a ceasefire. For you, that means fewer "80% off your next 1,000 rides" notifications. But for Lyft and Uber, it means the winding down of a bruising battle over market share. "We're definitely seeing the competitive environment improve," CEO Dara Khosrowshahi said.
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| Oprah says we all need to practice gratitude. Today, yours can be that you aren't an exec at Kraft Heinz, which reported delayed Q2 earnings yesterday. The gory details: In Q2, Kraft Heinz... - Took a 54.6% hit in operating income
- Pulled earnings and sales guidance, pushing shares (-8.58%) down a staircase to all-time lows
The backstory: Ever slipped on the sidewalk during a downpour after a root canal? That's what Kraft Heinz's February was like. The company... - Took a $15.4 billion writedown
- Missed profit estimates
- Revealed an SEC subpoena over its accounting practices
On yesterday's call, Kraft Heinz attributed over $1 billion in charges to "perceived risk" about the company's valuation. Looking ahead...new CEO Miguel Patricio, formerly of AB InBev, said on the earnings call that his turnaround plan will focus on measures such as high-end products, following P&G's model. |
Know What's Unfair? Your coffee shop running out of cold brew when you get to the front of the line. Dropping an insane amount of money on your college roommate's bachelorette party. And bridal shower. And wedding. We can't change those things. But Clearbanc IS changing one unfair thing: how hard it is to get funding as an entrepreneur. They know it's scary to put your house up as collateral for a bank loan, and frustrating to give up equity just to grow your business. So they created a new way for founders to access growth capital without tapping into their personal resources. They can fund you anywhere from $10K to $10M in a single day—all you need to do is fill out their 20-minute term sheet. Companies like Buffy and Le Tote have already grown their business with Clearbanc. They want to show you the money, too. |
Adli Wahid, The Kaaba during Hajj, CC BY-SA 4.0 | Over 1.8 million pilgrims arrived in Mecca, Saudi Arabia, for the annual Hajj, a journey to the holy city that is part of many Muslims' religious practice. And just like travelers everywhere, they probably used online reviews to prepare and figure out the logistics. But those reviews may not be reliable. Two professors, Tom van Laer of the University of Sydney and Elif Izberk-Bilgin of the University of Michigan, published a paper last December that showed reviews of sacred places like Mecca's Grand Mosque, India's Ganga Aarti, and Jerusalem's Church of the Holy Sepulchre get unusually high ratings online. When we say "unusually high," we mean... - Mecca's sites averaged a near-perfect 4.96 stars out of 5 on TripAdvisor, compared to an average of 3.96 for Europe's 200 highest-rated destinations.
- The combined average for what the authors call "spiritual places" on TripAdvisor was 4.63 stars.
The $ quote: "Our work shows that ratings for pilgrimage sites reflect the spiritual only, which risks an overly positive interpretation of the material." |
| Less feral than hogs. Closer to downtown than San Diego International Airport. V pumped for National Lazy Day tomorrow. It's the Brew's Weekly News Quiz. 1. You knew this was coming. What does HSBC stand for? 2. Fill in the blank: _________ consumption is declining dramatically while alternatives like water are on the rise. 3. Already in 2019, Disney broke the record for highest-grossing year for a studio ever. Which studio did it pass to become No. 1? 4. With all the talk of a currency war, we have to ask: What is the name of China's currency? 5. Last weekend, French entrepreneur Franky Zapata rode a hoverboard he designed across which body of water? For 35 points of extra credit, was this question just a ploy to bring back the GIF from Monday? 
Giphy Answers: 1) The Hongkong and Shanghai Banking Corporation Limited 2) U.S. dairy milk 3) Disney 4) Yuan, but we'll also accept renminbi 5) English Channel, extra credit: no |
- PG&E (+1.93%) shareholders are proposing to sell $15 billion worth of stock to bankroll a much-needed restructuring.
- AMD (+16.20%) shares did some crowdsurfing after the company said Twitter and Google are using its latest data center processors.
- Japan OK'd a shipment of chemicals to South Korea, the first such permit it's issued under new export controls.
- Facebook (+2.71%) is reportedly offering top news outlets millions of dollars a year for the licensing rights to content for its upcoming news section.
- Broadcom (+0.34%) will buy Symantec's (+12.30%) enterprise security business for $10.7 billion.
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Keep more of the paycheck you spent all that time studying for. You went to college to make money–not spend 10 years paying it off. CommonBond helps you refinance your student loans, PLUS they'll give you $200 for doing it. Can't say no to that. |
Brew's Bets Friday is for looking at funny things on the internet. Here are some atrocious home interiors. We mean atrocious. Friday Puzzle We love this one: Find an anagram for each word in Group A. Each anagram will pair with one of the clues in Group B. 
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| You only need 50 more referrals to receive a Morning Brew mug. Several readers have reported receiving promotions upon using their new mug at work. We can't guarantee results, we're just here to report what we've heard. 
Access your personalized referral page below to seamlessly share with your network. Click to ShareOr copy & paste your referral link to others:
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| Friday Puzzle 1. Harps (Stringed instruments)
2. Yanks (Americans overseas)
3. Tenor (Singing voice)
4. Eager (Type of beaver)
5. Topic (Subject)
6. Hinge (Jointed device)
7. Irons (Golf clubs) Source: Braingle | |
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