☕️ End of an era

Amazon’s RTO plan could be the end of WFH... September 28, 2024 [View Online]( | [Sign Up]( | [Shop]( [Morning Brew]( Presented By [Bonobos]( Good morning. And Goodbye Meta AI. Please note an attorney has advised us to put this on to protect our top blurbs. As Meta is now a public entity all tob blurbers must post a similar top blurb. If you do not, it will be assumed you are ok with Meta using your top blurb to train its top blurb AI. We do not give Meta or anyone else permission to use our top blurb. Share with 15 friends before midnight or all your outlets will fill with cement. —Sam Klebanov, Molly Liebergall, Matty Merritt, Abby Rubenstein, Neal Freyman MARKETS Nasdaq 18,119.59 -0.39% S&P 5,738.17 -0.13% Dow 42,313.00 +0.33% 10-Year 3.749% -4.0 bps Bitcoin $65,801.77 +1.33% Bristol Meyers Squib $50.91 +1.58% Data is provided by *Stock data as of market close, cryptocurrency data as of 6:00pm ET. [Here's what these numbers mean.]( - Markets: Things may be tense at the NYC mayor’s office, but down on Wall Street, life was looking sweet yesterday as all the major indexes clinched their third consecutive winning week. Stocks were a [mixed bag]( for the day, but the Dow scored another record close. Bristol Myers Squibb rose after the FDA approved its schizophrenia drug as the first new treatment for the condition in decades. - Economy: The Fed’s favorite inflation gauge came in lower than expected for last month, likely clearing the way for JPow and friends to keep cutting interest rates.  WORK [Is the remote work era over?]( [Amazon office]( Hudson/Getty Images Even more glaring than the perennial parent-child rift over what constitutes “cool” is the schism between employers and employees over WFH policy. The clash recently came to the fore when Amazon ordered its corporate staff back to the office five days a week starting in 2025—a decision many [disgruntled workers]( are asking leadership to reverse. The move made many people wonder whether the normalization of cats in the background of Zoom calls will be an enduring pandemic legacy after all. This week, on the heels of Amazon’s announcement, computer giant Dell told its sales staff to come back to the office full-time. Meanwhile, tech and finance giants including Microsoft, Apple, CitiBank, and Goldman Sachs have long pushed employees to show up in person at least three days per week. WFH wars Executives are more bullish on cubicles than they have been since the pandemic. The share of CEOs who expect companies will shift to full-time in-office work in the next three years jumped to 83% this summer from 64% the previous year, according to KPMG. - Amazon CEO Andy Jassy claimed the company is going back to the pre-Covid way of doing things to stimulate collaboration and strengthen culture. - The unofficial spokesperson of the RTO movement, JPMorgan CEO Jamie Dimon, has previously said remote work stifles “spontaneous idea generation.” Meanwhile, workers are not keen on greeting Debra from accounting with an awkward nod five times a week. A [recent working paper]( from the University of Chicago found that top talent tends to ditch companies in response to RTO mandates. Indeed, 73% percent of Amazon employees said they’re now considering switching jobs. But that might be exactly what the company wants, with some interpreting its back-to-office call as a way to slash headcount without paying severance. But WFH may not be done yet. The overall share of US employees who worked remotely for at least part of their job last month went up to 23% from 20% a year earlier, per the Bureau of Labor Statistics.—SK Presented By Bonobos [Do your pants *actually* fit?]( [Bonobos]( From your lucky shirt to your favorite trousers, finding a great ’fit—that fits great—is a great feeling. And there’s a big difference in the feeling you get wearing perfectly tailored pants vs. baggy pants that give you the dreaded diaper butt. That’s why [Bonobos’ focus on the perfect fit]( separates them from a sea of one-size-fits-all monotony. Take their selection of pants and jeans. Ask yourself, “How well do my pants *really* fit?” Then consider Bonobos’ signature curved waistband made to follow your natural shape. With the right amount of stretch to keep you comfortable without losing any silhouette, there’s no need for a tailor when you have [a flattering + stylish selection]( of fits and lengths to choose from. Try yours on for size with [promo code BREW20](. WORLD [Tour de headlines](#) [Flooding from Hurricane Helene]Megan Varner/Getty Deadly Hurricane Helene brought floods to the Southeast. The storm [made landfall]( Thursday night in Florida as a Category 4 hurricane, hitting an area still recovering from Hurricane Idalia before losing strength yesterday as it pummeled nearly 800 miles along the southeastern US, leaving at least 45 people dead across five states and millions without power. The heavy rainfall and storm surge also caused flooding that will likely result in billions of dollars’ worth of damage. Israel bombs Beirut as Netanyahu vows to fight “until all our objectives are met.” Israel continued to escalate its attacks in Lebanon yesterday with [airstrikes]( that leveled buildings in a densely populated area in what it said was an assault on Hezbollah’s headquarters targeting the group’s leader, Hassan Nasrallah. The bombing killed at least six people and injured dozens, according to Lebanon’s health ministry. The move came hours after Israeli Prime Minister Benjamin Netanyahu, who has brushed off international efforts toward a cease-fire, [spoke]( at the UN and insisted that Israel’s campaign would continue. Lebanese and Palestinian officials addressed the assembly the day before, decrying Israel’s actions in its current conflicts. Legendary actress Dame Maggie Smith has died at 89. The English stage and screen star’s sons [said]( she “passed away peacefully” in a hospital yesterday morning, noting she was a “private person” and not revealing her cause of death. Smith’s decades-spanning acting career included Oscar wins for her roles in The Prime of Miss Jean Brodie and California Suite. More recently, she gained a new crop of fans as Professor McGonagall in the Harry Potter films and the bon mot-spewing dowager countess in Downton Abbey.—AR REAL ESTATE [Zillow is adding climate risk info for home buyers]( [User view of Zillow's climate risk feature]( Browsing beachside mansions for fun is about to get depressing: Zillow’s US for-sale listings will soon feature data on extreme weather trends and insurance recommendations, the company announced yesterday. On a scale of 1 to 10, properties will receive risk [ratings]( for wildfires, flooding, heat, wind, and air quality. Listings may also show dystopian details, like how 95+ degree days at one Albuquerque listing are projected to [spike]( 200% in the next 30 years. The data, provided by climate risk financial modeling company First Street, will be on Zillow’s website and iOS app by the end of the year and on Android in early 2025. It marks the first time…aspiring homeowners will see climate risks [alongside]( insurance recs, per Axios. And Zillow will sometimes recommend coverage even when it isn’t mandated: - That’s because 78% of homes flooded by Hurricane Debby last month weren’t in areas requiring flood insurance, per First Street. - Zillow’s new feature would’ve recommended coverage for 85% of those properties, the company said. Climate risks and costs are growing. Last month, 16.7% of new Zillow listings had “major” risks for wildfires, and 12.8% had them for floods. Even if you’re outside disaster-prone zones, rising temperatures have [pushed]( average utility bills up 25% since 2019, according to the Bank of America Institute.—ML TOGETHER WITH YAHOO FINANCE [Yahoo Finance]( The financial destination behind every great investor. Yahoo Finance has been empowering millions (upon millions) of everyday investors to [make informed financial decisions]( for more than 25 years. Real-time market data, breaking news, original editorial perspectives, analyst ratings, and more can all be accessed on any device. [Give yourself a confidence boost and visit the #1 finance destination today](. TECH [No, sharing this will not protect you from AI]( [Yellow and orange blended background with block of text over it that reads “Goodbye Meta AI. Please note an attorney has advised us to put this on, failure to do so may result in legal consequences. As Meta is now a public entity all members must post a similar statement. If you do not post at least once it will be assumed you are okay with them using your information and photos. I do not give Meta or anyone else permission to use any of my personal data, profile information or photos.” with a bubble underneath warning viewers that fact checkers say the post is false.]( Check on your boomers: A new copypasta is [spreading]( through Instagram Stories. Nearly 600,000 people have already shared the fake “Goodbye Meta AI” post. The image, which encourages people to reshare it, says it denies Meta the right to scrape a user’s posts and photos to train Meta AI. But the company said making a public declaration of “Meta, no swiping!” doesn’t do anything. Even celebrities like James McAvoy, Ashley Tisdale, and Tom Brady fell for it. Kristen Bell shared an earlier version of the post in June but was revealed this week to be one of the celebs who cut a deal with Meta AI to use their voice in its new assistant. The post is bogus, but the anxiety is real. Despite the general dread and disdain many people seem to be feeling about the onslaught of AI, Meta seems to be going full steam ahead. Its most recent MetaConnect conference focused heavily on its new AI features, including plans to show AI-generated content in users’ feeds. Is there anything you can do? If you don’t want your posts training AI, you can make your accounts private. But Meta has probably already been [using]( anything you’ve put on its platforms from as far back as 2007 to train its model.—MM STAT [Prime number: Stimulus with Chinese characteristics](#) [People walk on a pedestrian bridge which displays the numbers of Shanghai and Shenzhen stock indexes.]Hugo Hu/Getty Images Patagonia stores in China might want to brace for an influx of traders looking to throw down some cash for a new fleece because Chinese stocks just finished their [best week]( in over a decade after the government rolled out a $114 billion stimulus effort to boost the struggling market. The CSI 300 index of stocks listed in Shanghai and Shenzhen soared 15.7% for the week, its biggest weekly gain since November 2008 (perhaps not-so-coincidentally the last time China unleashed a massive stimulus package). Meanwhile, Hong Kong’s Hang Seng index jumped 3.6% over the week, its largest weekly increase since 1998, per FT. Demand was so strong that it led to glitches for the Shanghai stock exchange, according to Bloomberg. But it’s still too soon to say whether the stimulus and the enthusiasm for it will be enough to get China to its 5% economic growth target for the year.—AR NEWS [What else is brewing](#) - [The Chicago White Sox]( made history last night when they lost their 121st game of the season, making them the MLB team with the most losses since 1900. But you can comfort your Chicago friends with the fact that they’re not the biggest losers ever because in 1899, the “Cleveland Spiders” embarrassed arachnids everywhere by losing 134 games. - [WeightWatchers CEO Sima Sistani]( who struggled to guide the company through the Ozempic era despite embracing the popularity of weight loss drugs, is leaving the position after two and a half years. - [NYC Mayor Eric Adams]( pleaded not guilty to federal charges that accuse him of accepting illegal money and perks from Turkey. Later in the day, his chief advisor’s phone was seized by investigators. - [The US]( charged Iranian operatives with hacking Donald Trump’s campaign. - [UFC’s parent company]( agreed to pay $375 million to settle a class action lawsuit accusing it of tamping down fighters’ pay by making it hard for them to accept offers from rival fight promoters. - [Two climate activists]( from Just Stop Oil were sentenced to prison for throwing soup at a Van Gogh painting. Hours later, other activists from the group threw soup at two more of the painter’s works. RECS [Saturday To-Do List graphic] Today, ICYMI, we’re bringing you the most-clicked links from the Recs section this month. Eat your greens: The CDC named [the healthiest veggie]( to spruce up your salads. Check the stats: A statistical analysis that crowns the [greatest actor]( in Hollywood history. Find your niche: A quiz to determine the [best country]( for you to live in. Manage your money: Answer questions to see whether you [spend money]( like a Gen Zer, millennial, or boomer. Your allergy ally: [Allergy Insider]( is a resource built to help patients finally get to the bottom of their allergy symptoms and work with their HCP to [find solutions]( *A message from our sponsor. GAMES [The puzzle section](#) Brew crossword: Jack has dreamed up the perfect puzzle to start your weekend off right. [Play it here](. Open House Welcome to Open House, the only newsletter section that has been waiting a decade to make these jokes. We’ll give you a few facts about a listing and you try to guess the price. [Renovated townhouse in Greenwich Village]Sotheby’s International Realty Today’s [home]( in New York City’s Greenwich Village has been under renovation for the last ten years, but it’s worth it because now it has an 83-foot climbing wall. The property was also home to the late Robert Isabell, who planned Kennedy weddings and lavish parties at Studio 54. Amenities include: - 4 beds, 4.5 baths - Outdoor and indoor gate - Nooks galore How much for your piece of NYC 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 $20 million Word of the Day Today’s Word of the Day is: “bon mot,” meaning “a witty remark.” Thanks to Margaret from Bethesda, Maryland, for suggesting the good word. Submit another [Word of the Day here](. Written by [Neal Freyman]( [Abigail Rubenstein]( Sam Klebanov, [Molly Liebergall]( and [Matty Merritt]( Was this email forwarded to you? Sign up [here](. 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