☕️ Sausage sales

The Kelce bros join the podcast wars... August 28, 2024 [View Online]( | [Sign Up]( | [Shop]( [Morning Brew]( PRESENTED BY [Grayscale Investments]( Good morning. Here’s your #hustleculture inspiration for the day: American tennis star Frances Tiafoe brought twenty (20) [backup shirts]( to his match at the US Open Monday night because he sweats so much on the court. Let’s face it—if you’re not bringing 20 backup shirts to the office, you’re not grinding hard enough. —Cassandra Cassidy, Holly Van Leuven, Sam Klebanov, Adam Epstein, Neal Freyman MARKETS Nasdaq 17,754.82 +0.16% S&P 5,625.80 +0.16% Dow 41,250.50 +0.02% 10-Year 3.833% +2.0 bps Bitcoin $61,925.42 -2.09% Nvidia $128.30 +1.46% Data is provided by *Stock data as of market close, cryptocurrency data as of 4:00pm ET. [Here's what these numbers mean.]( - Markets: Stocks tiptoed [into the green]( on Tuesday as investors weren’t quite sure what to do ahead of today’s momentous Nvidia earnings report. The Magnificent Seven stock is up more than 160% this year and now makes up nearly 7% of the S&P 500. Expect the market to react bigly to the chipmaker’s release today.  MEDIA [Kelce bros’ megadeal cements new era for podcasts]( [Travis and Jason Kelce]( Smith/Getty Images Travis Kelce is about to make the same amount of money filling the airwaves with tales of his dating life as he does from taking hits on the field. The Chiefs tight end and his brother, former Philadelphia Eagles legend Jason Kelce, just scored a $100+ million deal with Amazon’s Wondery for their podcast, New Heights. Here’s what we know about the deal: - Wondery has exclusive [distribution]( rights for the podcast and its back catalog, as well as the first-look option for any new consumer products or podcasts the brothers want to develop. - The show will remain available across Spotify, Apple, and YouTube. For the six people with a Wondery+ subscription, episodes will be available early and ad-free. With only 98 episodes—significantly less than similarly valued podcasts—Amazon is likely banking on the show’s early popularity and Travis’s pop-star girlfriend, Taylor Swift, to change the narrative from the cycle of doom that’s defined podcast culture in recent years. The winds are a-changin’ Not too long ago, it seemed like any celebrity with a microphone could pull a multimillion-dollar podcast deal. Now, platforms are [spending]( more selectively on shows and increasingly looking to bring in a big hit rather than grow a new one. This year alone: - SiriusXM closed two deals worth over $100 million each, one for Alex Cooper’s Call Her Daddy and the other for SmartLess with Jason Bateman, Will Arnett, and Sean Hayes. - Spotify renewed its deal with Joe Rogan for $250 million. - Wondery paid $80 million to nab Dax Shepard’s podcast, Armchair Expert. Still, the biggest sign of changing tides is Spotify’s strategy shift: The company has been pulling back over the past two years as its $1 billion bet on podcasting failed to go boom, forcing it to lay off staff, cut programming, and abandon exclusivity contracts. Zoom out: Those Kelce boys are booked and busy. Jason went straight from retired NFL player to ESPN analyst, while Travis may yet trade Kansas City for Hollywood. He’s set to host an upcoming Amazon Prime show and is in talks to star in an action comedy from Lionsgate. He’ll also appear in Ryan Murphy’s latest series for FX.—CC PRESENTED BY GRAYSCALE INVESTMENTS [Have you been eyeing Ethereum?]( [Grayscale Investments]( [Ticker: ETH]( is a low-cost fund (and zero-fee for the first six months!)* that offers exposure to Ethereum, the second-largest cryptocurrency by market capitalization. With ETH, you [gain exposure to Ethereum]( right in your brokerage or retirement account. And it’s managed by Grayscale, the largest crypto asset manager. Grayscale operates more publicly traded crypto funds than anyone else and has the longest track record of operating crypto funds in the industry. Visit [grayscale.com/eth]( to learn more, or search ETH on your investment platform today. ETH is not suitable for all investors. An investment in ETH is subject to a high degree of risk, has the potential for significant volatility, and could result in significant or complete loss of investment. ETH is not an investment company registered under the Investment Company Act of 1940 (the “1940 Act”). As a result, shareholders of ETH do not have the protections associated with ownership of shares in an investment company registered under the 1940 Act. WORLD [Tour de headlines](#) [Mark Zuckerberg]Alex Wong/Getty Images Zuck said Meta was “pressured” by the White House on Covid. In a letter to the House Judiciary Committee, Meta CEO Mark Zuckerberg alleged that the Biden administration pressured the social media giant in 2021 [to censor]( certain Covid-19 content, which he said was “wrong.” Meta ultimately removed more than 20 million posts related to Covid for violating its content rules, but Zuck said that was not due to government pressure. The White House acknowledged in a statement that it had encouraged “responsible actions to protect public health and safety.” President Biden and White House officials publicly criticized tech giants like Meta for allowing Covid misinformation on their platforms. US consumer confidence hit a six-month high. The decline in inflation and the expectation of an imminent interest rate cut have Americans [feeling better]( about the economy than they have in a while, according to the latest update of the Conference Board’s consumer confidence index. On the other hand, consumers are worried about the softening labor market. While the unemployment rate remains below historical standards at 4.3%, it has increased for four straight months—likely enough to convince the Fed to cut rates in September. Lowe’s became the latest employer to scrap DEI policies. The home improvement retailer told employees it will [no longer participate]( in LGBTQ advocacy surveys or pride parades, NBC News reported, following similar announcements from Best Buy, John Deere, Jack Daniel’s, and other companies this year. Right-wing personalities like Robby Starbuck have called on corporate America to end its diversity, equity, and inclusion efforts, which they argue are “woke.” The backlash started in earnest when conservatives boycotted Bud Light last year after the popular beer brand partnered with trans social media star Dylan Mulvaney. PHARMA [1 weight loss injectable just got cheaper]( [two vials of Zepbound]( Lilly Zepbound, Eli Lilly’s injectable weight loss drugs, is now available for about half price in a new way. Zepbound injection pens cost $1,060/month without insurance or discounts, but patients with a prescription can get single-dose vials at either a 2.5- or 5-milligram dosage for $399 and $549 per month, respectively. The move [alleviates several pain points]( for Lilly: - The new offering sticks it to compounding pharmacies, which have been allowed to make copycats of the popular drugs to address the weight loss drug shortage. Those have only been sold in vials for around the prices Lilly is introducing. - Lower prices mean the drug will be more accessible to patients paying out of pocket. - While injectable pens make taking a weekly dose as simple as pressing a button, the manufacturing process is more time-consuming and expensive, which contributed to the shortages. Critics point out that the costs are [still out of reach]( for many people who would benefit from the drug. But patient advocates hope this will not only motivate rival manufacturer Novo Nordisk to roll out a cheaper offering of competitor Wegovy, but also help bring down the cost of weight loss drugs in general.—HVL TOGETHER WITH MONOGRAM [Monogram]( 8% dividend yield opportunity: [Monogram (Nasdaq: MGRM)]( known for their autonomous robotic surgical systems, completed a crowdfunded public offering and Nasdaq listing last year. What’s next? They just filed for FDA approval to commercialize their patented tech. Monogram’s currently offering preferred stock with an 8% dividend (in cash or kind) at $2.25/share. Their common shares recently closed as high at $3.40. [Monogram currently plans to close the Series D Preferred offering on September 12, 2024](. ECONOMY [Why economists are scrutinizing sausage sales]( [Sausages]( Howells/Getty Images Heightened appetites for sausages might signal that the US consumer is in a pickle. Sales of dinner sausage increased for one manufacturer surveyed by the Dallas Fed, which the meat purveyor said tends to go hand-in-hand with a weaker economy. Why? Sausages are a [cheaper substitute]( for higher-priced proteins that people can buy to stretch their budgets. The meaty observation published this week aligns with more mundane reports from retailers that consumers are increasingly bargain-hunting amid economic shakiness. Quirky warning signs While it may seem unusual for the Fed to consider the feeling in its kishkes for an economic vibe check, it’s hardly the only (potentially dubious) indicator people have noted over the years. Aside from the famous Big Mac and [lipstick]( indexes, economists have found: - Declining men’s underwear sales could spell economic trouble as many men apparently opt to wear tattered boxers to save. - In the past, the level of grittiness in Marine Corps ads has increased along with economic challenges, since recruitment is easier in tough times. - A rise in unclaimed corpses in morgues might indicate a morbidly bad economy in which people seek to avoid a costly funeral for their loved ones. But…a rise in unorthodox indicators could indicate desperation among analysts, since more traditional economic red flags like unemployment upticks (Sahm rule), government bond prices (inverted yield curve), and even GDP declines have pointed to a recession that hasn’t materialized.—SK STAT [Prime number: AI took our jobs](#) [Klarna app]Jonas Walzberg/Getty Images AI might take your job, but at least companies are…being honest about it? Klarna, which has already cut its workforce from 5,000 to 3,800, reportedly plans to slice it nearly in half again [by using AI]( to replace marketing and customer service roles, the Financial Times reported. As a result of the AI-driven cost-cutting measures, the Swedish buy now, pay later company said it increased the average annual revenue per employee from $400k last year to $700k today. “Not only can we do more with less, but we can do much more with less,” CEO Sebastian Siemiatkowski told the FT. “I’m very happy about seeing that this is paying off.” NEWS [What else is brewing](#) - [Special Counsel Jack Smith]( filed a new indictment against Donald Trump for his efforts to undo the results of the 2020 presidential election. The revised indictment keeps the same charges but removes certain details to comply with the Supreme Court’s ruling that presidents are immune from prosecution for official acts. - [Stop & Shop]( will stop selling cigarettes at its 360 stores due to its “commitment to community wellness” as public health advocates increasingly pressure retailers to end the practice. - [Hackers]( backed by the Chinese government penetrated US internet service providers to spy on their users, the Washington Post reported. - [X]( which owner Elon Musk wants to be “the everything app,” is testing a videoconferencing tool in a bid to compete with Zoom, Microsoft, and Google. - [Martin Shkreli]( was ordered by a federal judge to turn over all his copies of the one-of-a-kind Wu-Tang Clan album, Once Upon a Time in Shaolin. - [Northwest Stadium]( will be the new name of the Washington Commanders stadium following an eight-year deal with Northwest Federal Credit Union, even though the NFL team plays neither in the Northwestern United States nor in the Northwest part of Washington, DC. RECS [Wednesday to-do list] See the future: How your [life expectancy]( compares to the rest of the world. Chow down: The best [fried chicken]( in every state. Quiz yourself: Guess the famous novels based on their [bad reviews](. Point and laugh: An X thread of [really bad]( charts and infographics. Your logo embroidered here: New customer special! See your logo on a great-quality, custom-embroidered polo or hat [for just $4.95]( including logo setup and embroidery. [Queensboro.com](. For over 40 years, trust the Queen!* *A message from our sponsor. GAMES [The puzzle section](#) Word Search: This puzzle should quench your thirst. [Play it here](. Sibling band trivia With the Gallagher bros back together for an Oasis reunion tour, here’s a quiz about other sibling-led bands. We’ll give you the first names of the siblings in a musical group, and you have to identify the band. If we didn’t include your favorite sibling band, we do apologize. - Jackie, Tito, Jermaine, Marlon, and Michael - Este, Danielle, and Alana - Kevin, Joe, and Nick - Brian, Carl, and Dennis - Barry, Robin, and Maurice - Alan, Wayne, Merrill, Jay, Donny, Marie, and Jimmy 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 - The Jackson 5 - Haim - The Jonas Brothers - The Beach Boys - The Bee Gees - The Osmonds Word of the Day Today’s Word of the Day is: kishkes, which are stuffed sausages or intestines popular in Eastern Europe. Thanks to Libby from Burlington, VT, for the beefy suggestion. Submit another [Word of the Day here](. ✢ A Note From Grayscale Investments The trust is not a fund registered under the Investment Company Act of 1940 as amended (“1940 Act”), and is not subject to regulation under the 1940 Act, unlike most exchange-traded products or ETFs. An investment in the trust is subject to a high degree of risk and heightened volatility. Digital assets are not suitable for an investor who cannot afford the loss of the entire investment. *Low cost based on gross expense ratio at 0% for the first 6 months of trading for the first $2.0 billion. After the fund reaches $2.0 billion in assets or after a 6-month waiver period, the fee will be 0.15%. Brokerage fees and other expenses may still apply. See prospectus for additional fee waiver information. Grayscale Ethereum Mini Trust (the Trust) has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the Trust has filed with the SEC for more complete information about the Trust and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at [www.sec.gov](. Alternatively, the Trust or any authorized participant will arrange to send you the prospectus (when available) if you request it by calling (833) 903-2211 or by contacting Foreside Fund Services, LLC, Three Canal Plaza, Suite 100, Portland, Maine 04101. Foreside Fund Services, LLC is the Marketing Agent for the Trust. Investing involves significant risk, including possible loss of principal. The Trust holds Ethereum; however, an investment in the Trust is not a direct investment in Ethereum. As a non-diversified and single industry fund, the value of the shares may fluctuate more than shares invested in a broader range of industries. Extreme volatility, regulatory changes, and exposure to digital asset exchanges may impact the value of Ethereum, and consequently, the value of the Trust. Digital assets are not suitable for an investor who cannot afford loss of the entire investment. There is no guarantee that a market for the shares will be available, which will adversely impact the liquidity of the Trust. The value of the Trust relates directly to the value of the underlying digital asset, the value of which may be highly volatile and subject to fluctuations due to a number of factors. There is no certainty that an active trading market for shares will develop or be maintained which will adversely affect the liquidity of shares of the Trust. ✳︎ A Note From Monogram This is a paid advertisement for Monogram Technologies’ Series D Preferred Stock offering. A prospectus supplement and accompanying base prospectus have been filed with the SEC. Before making any investment, you are urged to [read the prospectus supplement and accompanying base prospectus]( carefully for a more complete understanding of the issuer and the offering. The securities offered by Monogram are highly speculative. Investing in these securities involves significant risks. The investment is suitable only for persons who can afford to lose their entire investment. Investors must understand that such investment could be illiquid for an indefinite period of time. There is no existing public trading market for the Series D Preferred Stock. Monogram does not intend to apply for listing of the Series D Preferred Stock or the common stock purchase warrants on a national securities exchange or quoted on an over-the-counter market. DealMaker Securities LLC, a registered broker-dealer and member of FINRA | SIPC, located at 105 Maxess Road, Suite 124, Melville, NY 11747, is the Intermediary for this offering and is not an affiliate of or connected with the Issuer. Please check our background on FINRA’s BrokerCheck. Written by [Adam Epstein]( [Neal Freyman]( [Cassandra Cassidy]( [Holly Van Leuven]( and Sam Klebanov 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