☕️ No bones about it

How one cartel leader tricked another into getting arrested... July 27, 2024 [View Online]( | [Sign Up]( | [Shop]( [Morning Brew]( PRESENTED BY [Lift Aircraft]( Good morning. Competing at the Olympics requires blood, sweat, and tears, but for Australian field hockey player Matt Dawson, it also meant forgoing cartilage, tendons, and bone. After injuring his ring finger two weeks ago and being told surgery would sideline him for months, Dawson instead chose to have it [amputated]( from the knuckle up so he could play at the Olympics. “Fingers crossed we get the gold in the end, it’s not a really big price to pay then,” he said. We’ll do it for you. —Sam Klebanov, Cassandra Cassidy, Molly Liebergall, Matty Merritt, Abby Rubenstein, Neal Freyman MARKETS Nasdaq 17,357.88 +1.03% S&P 5,459.10 +1.11% Dow 40,589.34 +1.64% 10-Year 4.200% -6.0 bps Bitcoin $67,983.11 +3.36% 3M $127.16 +22.99% Data is provided by *Stock data as of market close, cryptocurrency data as of 7:00pm ET. [Here's what these numbers mean.]( Markets: Stocks declared “we are so back” yesterday following a tough week, [climbing]( as investors digested economic data like Thursday’s strong GDP report and the Fed’s favorite inflation gauge coming in cooler. Big Tech got back into green territory, and 3M, the company that fills your office’s supply closet, clinched its biggest one-day gain on record after delivering stronger-than-expected quarterly results and putting legal troubles in the rearview.  SPORTS [Paris Olympics open with pomp and panache]( [Paris Olympics opening ceremony]( Images The Olympics officially commenced in a grand and elegant ceremony yesterday, the main character of which was the majestic River Seine. It was the first time in history that the Games’ opening ceremony was held outside of a stadium. A flotilla of 85 boats carried 6,800 athletes to the site of the finale at the Trocadéro. There, the Olympic flag was (accidentally) raised upside down and French President Emmanuel Macron declared the Games open, after which the lit Olympic cauldron levitated in a hot-air balloon. The 3.7-mile riverine route allowed the host city to show off its architecture while thousands of Parisians and tourists [enjoyed the spectacle]( from the embankments. On land, there were carefully choreographed invocations of French culture and callbacks to history: - A plumy Lady Gaga [popped up]( in a cabaret act, and French-Malian pop star Aya Nakamura [performed]( alongside the orchestra of the French Republican Guard. Céline Dion capped things off by belting out [a tune]( from the Eiffel Tower in her first performance since 2020. - A beheaded Marie Antoinette and Joan of Arc on a silver horse also appeared, while the mischievous Minions dropped the “Mona Lisa” into the supposedly cleaned-up Seine. But the lady with a mysterious smile was not the only one to get soaked, as pouring rain continued throughout the event. Force majeure More than just the waves on the river created choppiness during the day: France woke up to transportation chaos. A major arson attack early yesterday morning scrambled high-speed rail service across the country, affecting 800,000 passengers, including some athletes on their way to Paris. Train service on three long-distance lines was suspended or delayed after unknown perpetrators set signaling cables ablaze at stations in different parts of the country (rail employees thwarted a fourth attack). And a regional airport on the border with Switzerland was evacuated due to a bomb threat. Security is top of mind…amid fears of terrorism and anxieties that Russia (whose athletes were banned from participating under the national flag) is cooking up malicious disruptions.—SK PRESENTED BY LIFT AIRCRAFT [A question of when, not if]( [Lift Aircraft]( It’s just a matter of time before “flying vehicles” fill the sky. At least, that’s what McKinsey predicts. By 2030, they say [electric vertical takeoff and landing aircraft (eVTOLs)]( could have bigger fleets and offer more flights per day than even the world’s biggest airlines. One company has emerged as the leader: LIFT Aircraft, [the first eVTOL company to make personal flights available to consumers](. And they aren’t slowing down. They’ve lined up a waitlist of 15,000 people who want to fly, 300 aircraft pre-orders ($150m+ in sales), and six US Air Force contracts worth $5m. The best part? You can now share in their growth and [receive up to 40% additional shares when you invest for a limited time](. WORLD [Tour de headlines](#) [Andrew Left of Citron Research]Andrew Left. Bloomberg Television via YouTube High-profile short seller accused of fraud. Citron Research founder Andrew Left is used to being the one calling out fraud, but yesterday, federal prosecutors and the SEC [claimed]( he’s the one pulling a financial fast one. The government alleges that Left committed securities fraud by using his [appearances]( on television and his social media accounts to make misleading statements that manipulated the market—and reaped $16 million in profit for doing so. Left declined to comment to news outlets, but his lawyer told the Wall Street Journal that the government’s cases were “based on a defective theory” and targeted Left for sharing his opinions. Actors strike against video game companies. While striking actors may seem so last summer, SAG-AFTRA is on the picket lines again, this time after failing to [reach an agreement]( with video game companies, including units of Activision, Electronic Arts, Warner Bros., and Disney. One big sticking point preventing a new contract for video game performers: AI. “We’re not going to consent to a contract that allows companies to abuse AI to the detriment of our members,” SAG-AFTRA President and former fictional nanny Fran Drescher said. “Enough is enough.” ⏸️ Bill Ackman’s fund postpones IPO. The billionaire hedge fund boss and frequent main character on X has [delayed]( the stock market debut of the closed-end fund Pershing Square USA, which was scheduled for early next week, a notice on the New York Stock Exchange’s website said. The decision to wait came days after Ackman said in a letter to investors that the firm was downsizing its expectations for the share sale from a target of about $25 billion (which would have made it the largest-ever IPO of its kind) to something between $2.5 billion and $4 billion. Ackman has a similar fund already trading shares in Europe and has hinted he might take his larger firm, Pershing Square, public as soon as [next year](. CRIME [2 drug cartel leaders arrested after airplane ruse]( [Ismael “El Mayo” Zambada and Joaquín Guzmán López]( Department of State The US arrested two leaders of one of Mexico’s most powerful drug cartels after one apparently tricked the other into boarding a private plane bound for the States, according to the Washington Post. Authorities said they nabbed Ismael “El Mayo” Zambada, believed to have co-founded the Sinaloa cartel along with the famed kingpin Joaquín “El Chapo” Guzmán Loera (already in US custody). They also arrested El Chapo’s son Joaquín Guzmán López. The Sinaloa cartel is thought to be the No. 1 supplier of fentanyl to the US and is credited with building the fentanyl trade. Here’s what we know about the arrests: - Both men boarded a private plane in Mexico. Guzmán López got Zambada on board under the pretense of looking at investment properties. The plane was actually headed to the US. Guzman had been working with US authorities to turn himself, and Zambada, in. - Mexican officials did [not]( know about the secret operation until the two were already in custody. Zoom out: The arrests are part of a US crackdown on fentanyl amid an epidemic of addiction. But experts say that they’re [unlikely]( to have an impact on the flow of the drug into the country: Many other unknown players remain to take the reins in the booming drug trade.—CC TOGETHER WITH INFINITY FUEL [Infinity Fuel]( Discovered, an “infinite” supply of energy: Renewable energy is about to get real in 2024. Infinity Fuel Cell and Hydrogen, Inc. is [inviting private investors to participate in their first capital raise](. With their new brand ambassador, William Shatner*, and a history of $50m+ in contracts from NASA and others, they’re pioneering hydrogen fuel cells that work underwater and in space. [Become one of Infinity’s earliest shareholders while you can](. FOOD & BEV [Boneless wings can have bones, Ohio court says]( [Jennifer Lawrence on Hot Ones]( Ones Words matter—except when they don’t. The Ohio Supreme Court [ruled]( that people can’t take “boneless wings” literally, quashing one restaurant patron’s yearslong effort to get compensation for chicken-related injuries. Ohio man Michael Berkheimer sued his usual wing spot, its chicken supplier, and a farm in 2017 after—brace yourself—an inch-and-a-half-long bone in his order of boneless wings became lodged in his esophagus, leading to two surgeries. In a 4–3 ruling, the Ohio Supreme Court’s majority outed itself as having never visited a sports bar [wrote]( that no one but Berkheimer was responsible for guarding against an errant bone because “it is common sense” that “boneless” doesn’t guarantee [bonelessness]( but rather describes a “cooking style.” - “No sensible person has ever written such a thing,” the dissent countered, calling the majority’s logic “jabberwocky” and reasoning that parents who give their kids boneless-labeled chicken expect no bones. - The dissent also favored remanding the civil case to a jury trial so it could be decided by average wing-eaters, who the majority justices claimed would interpret “boneless” figuratively, “just as a person eating ‘chicken fingers’ would know that he had not been served fingers.” Worst case…the dissent warned that this ruling could protect restaurants that serve gluten or lactose to patrons who specified their allergies.—ML STAT [Prime number](#) [A person using a sports betting app]Matthieu Delaty/Getty Images While being able to place bets on your phone might add more spice to your weekly get-together to watch the game than nachos do, a new [working paper]( by researchers at UCLA and USC found that legalized sports betting—especially online or mobile versions—has been bad for consumer health. With 38 states legalizing betting and $300 billion wagered since a Supreme Court ruling paved the way in 2018, the paper found that, in states that allow online access to betting: - Credit scores decreased by ~1%, suggesting a dip in creditworthiness. - Bankruptcies increased ~28%. - Debt transferred to debt collectors went up 8%. One of the study’s authors [noted on X]( that they were looking at averages, so while most of the millions of people betting probably weren’t impacted, some likely suffered very severe impacts. NEWS [What else is brewing](#) - [Europe’s drug regulator]( rejected Biogen’s Alzheimer’s treatment Leqembi, a setback for the drug, which has been approved by the FDA, as well as regulators in Japan, South Korea, China, and Israel. - [The FAA]( cleared SpaceX’s Falcon 9 rocket to fly again after grounding it two weeks ago following a rare in-flight [engine failure](. - [Barack and Michelle Obama]( endorsed Kamala Harris, giving her even more momentum to claim the Democratic nomination. - [Deadpool & Wolverine]( is on pace to have a big opening weekend after breaking the box-office record for an R-rated movie’s Thursday preview with a $38.5 million haul. The previous record was set by Deadpool 2 in 2018. - [A former janitor]( sued Frito-Lay’s parent company, Pepsi, for denying his claim to being the inventor of Flamin’ Hot Cheetos. RECS [Saturday To-Do List graphic] Watch: Why there are so many [grass lawns]( in America. Cheer: The [underdogs]( to root for at the Olympics. Name that tune: This game asks you to [guess songs]( one instrument at a time. Explore: Time magazine released its list of the world’s [100 greatest places](. Feel your best: Nouri's cutting-edge [Women's Health Daily Probiotic Capsules]( support urinary tract health, help advanced digestion and immune function, and more.* *A message from our sponsor. GAMES [The puzzle section](#) Brew crossword: Knowledge of early Disney movies will come in handy for today’s crossword. [Play it here](. Open House Welcome to Open House, the only newsletter section that can stand under a 10-foot-tall ceiling and still touch the crown moulding. We’ll give you a few facts about a listing and you try to guess the price. [Burlington, Iowa home built in 1850. Most of the rooms have inspired wallpaper.]Zillow Today’s [home]( is in Burlington, Iowa, a town that nearly 20,000 cyclists will pedal through today as the final stop on Register’s Annual Great Bicycle Ride Across Iowa. The 3,985-square-foot house was built in 1850 and has some of the most tasteful wallpaper you’ve ever seen. Amenities include: - 5 beds, 3 baths - Built-in china hutch - Shared shaving space How much for a piece of Iowa history? SHARE THE BREW [Share Morning Brew]( with your friends, acquire free Brew swag, and then acquire more friends as a result of your fresh Brew swag. We’re saying we’ll give you free stuff and more friends if you share a link. One link. Your referral count: 0 [Click to Share]( Or copy & paste your referral link to others: [morningbrew.com/daily/r/?kid=4904f90a]( ANSWER $395,000 Word of the Day Today’s Word of the Day is: riverine, meaning “relating to, formed by, or resembling a river.” Thanks to Ada from Philadelphia, PA, for not watering down the suggestion. Submit another [Word of the Day here](. ✢ A Note From Lift Aircraft This is a paid advertisement for LIFT Aircraft’s Regulation CF Offering. Please read the offering circular at [](. ✳︎ A Note From Infinity Fuel This is a paid advertisement for Infinity Fuel Cell and Hydrogen, Inc. Reg CF offering. Please read the offering circular at [](. * Section 17(b) disclosure. Mr. Shatner is compensated as an Infinity advisor at $10k/month. He also has received options to purchase up to 100k shares vesting over nine months at an $8.00/share strike price Written by [Neal Freyman]( [Abigail Rubenstein]( Sam Klebanov, [Cassandra Cassidy]( and [Molly Liebergall]( Was this email forwarded to you? Sign up [here](. Interested in podcasts? - Check out ours [here]( [ADVERTISE]( // [CAREERS]( // [SHOP]( // [FAQ]( Update your email preferences or unsubscribe [here](. View our privacy policy [here](. Copyright © 2024 Morning Brew. All rights reserved. 22 W 19th St, 4th Floor, New York, NY 10011