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TikTok Shop is gaining thunderous momentum... [December 03, 2024]( [View Online]( | [Sign Up]( | [Shop]( [Morning Brew]( Presented By [Bland.AI]( Good morning. If you missed out on The Suite Life of Zack & Cody Danimals sweepstakes back in the day, we’ve got a redemption opportunity. When you [fill out this reader survey]( you will be entered into a raffle for a chance to win a $250 AmEx gift card. Of course, it’s no Caribbean vacation, but it is enough to buy nosebleed Celtics tickets for you and one of the Sprouse twins. And, in the process, we’ll learn more about you, which will help us write the stories most relevant to your life. [Take the survey here](. —Cassandra Cassidy, Sam Klebanov, Molly Liebergall, Holly Van Leuven, Neal Freyman MARKETS Nasdaq 19,403.95 +0.97% S&P 6,047.15 +0.25% Dow 44,782.00 -0.29% 10-Year 4.196% +2.0 bps Bitcoin $95,425.98 -2.08% Super Micro $42.00 +28.68% Data is provided by *Stock data as of market close, cryptocurrency data as of 5:00pm ET. [Here's what these numbers mean.]( - Markets: Investors returned from the long weekend brimful of enthusiasm, sending the S&P 500 and the Nasdaq to [record-high closes](. The Dow slipped a bit, because there’s darn little perfection in this world. - Stock spotlight: Super Micro saw a big uptick after announcing that an independent review found no evidence of wrongdoing in its business practices.  RETAIL [Is TikTok an emerging e-commerce behemoth?]( [A live host promotes products for a skincare brand on a TikTok Shop livestream]( Ezra Acayan/Getty Images Late-night online shopping, meet late-night doomscrolling. TikTok Shop, the social media app’s e-commerce platform, is gaining thunderous momentum. Its traffic during the holiday shopping season is shining a light on the app’s future as a one-stop shop that’s attractive to retailers and consumers—even as a potential ban looms in the distance. While you were sleeping…TikTok Shop said it raked in over $100 million in [sales]( on Black Friday this year, as retailers in fashion, beauty, and lifestyle products flocked to the platform to peddle their wares to TikTok’s 170 million users. It’s been 15 months since its launch, and TikTok Shop is expected to more than [double]( its sales this year to $50 billion, according to market research firm ecommerceDB. Wyd, Amazon? While $50 billion is small potatoes compared to Amazon’s expected $757 billion in sales this year, TikTok Shop is not being coy about coming for the Prime retailer: - TikTok Shop has marketed itself as an obvious [alternative to Amazon]( offering low fees and discounts to persuade sellers to join. - It’s also poached some execs from Amazon to beef up its e-commerce department. Look out for live shopping Part of TikTok Shop’s Black Friday success came from over 30,000 [livestream]( sessions throughout the day from retailers and content creators—some of which grossed millions of dollars in revenue. As the platform looks to expand, it’s betting on live shopping—basically Gen Z’s version of QVC—to propel sales. - In China, where TikTok’s parent company ByteDance is based, live shopping is hugely popular. Last year, TikTok’s sister app, Douyin, made over $200 billion during livestreams. - It hopes to replicate that success in the US, though the format hasn’t taken off yet. Both Meta and Amazon have made unsuccessful pushes into the live shopping space. Big picture: Though TikTok could get banned as soon as January, retailers on the app are soaking up every minute of screen time they can get. Big-name brands like Puma, L’Oreal, Nike, and Crocs are already cashing in.—CC Presented By Bland.AI [Still hiring humans?]( [Bland.AI]( AI is calling—and it sounds more human than ever. Say hi to Bland.AI, the company behind [this car and amazingly realistic AI phone-calling agent](. Chances are, you’ve already spoken to it without even noticing. It can detect emotion, responds in any voice or language, and already handles more than 1m phone calls simultaneously, 24/7. For enterprises, it’s been a game changer across sales, operations, customer support—you name it. Sounds like a recipe for growth. Curious? [Give it a call yourself](. Or Brew readers can [get exclusive access to an even more advanced version here](. WORLD [Tour de headlines](#) [A Tesla sign outside a Tesla delivery center] Baileystock/Getty Images Judge upholds ruling to rescind Musk’s $56 billion Tesla pay package. Judge Kathaleen McCormick of the Delaware Court of Chancery [upheld her ruling]( Tesla CEO Elon Musk’s pay package of $56 billion was improperly granted and breached the company’s fiduciary duty. The company held a vote at its annual shareholder meeting in June about whether or not to grant Musk the pay package, and 72% of the voters favored it. However, the vote could not supersede the judge’s ruling, and McCormick said, “Even if a stockholder vote could have a ratifying effect, it could not do so here.” Musk can still appeal to the Delaware Supreme Court. French government poised to collapse over budget fight. French Prime Minister Michel Barnier wanted to provide “stability” for the French people and quell “serious turbulence in the financial markets,” so he invoked a controversial section of French law to pass [a social security budget bill]( without a vote. Barnier, a conservative, is facing the wrath of both the left-wing NLP party and Marine Le Pen’s right-wing National Rally party, which are expected to censure the prime minister and call for a no-confidence vote. Now, either the Barnier government will be sent packing, or the social security bill will be passed by the National Assembly and sent to the French Senate for approval. International Court of Justice begins climate change hearings. Yesterday, [the UN’s highest court]( started to ascertain what legal obligations some countries may have to mitigate the effects of climate change while also helping the most vulnerable nations withstand its impacts. Over 100 countries will send lawyers and other representatives to the Hague to make their cases through December 13. Last year, the UN asked the International Court of Justice to make its opinion. Last week, at the COP29 climate conference, countries came together to pledge $300 billion annually for climate finance by 2035, a deal that representatives of some of the most endangered nations found insufficient.—HVL BUSINESS [Beleaguered Intel bids adieu to CEO]( [Intel CEO]( I-Hwa Cheng/Getty Images Intel is looking for a new leader—preferably, one with a comeback kid mentality. CEO Pat Gelsinger announced his retirement on Sunday, reportedly [yielding to pressure]( from the board to step away, according to Bloomberg. Here’s what went wrong: - When the Intel veteran became chief executive in 2021, many hoped he would turn things around at the company that once dominated PC chip production but slept on embracing chips for smartphones. - Instead, his tenure was marked by further disappointment as PC demand dropped and Intel lost more market share to rivals riding the AI chip boom, like Nvidia and Advanced Micro Devices. Short-circuiting recovery Gelsinger put all of Intel’s chips on the table to engineer a comeback: He poured billions into manufacturing microprocessors for external clients (like AWS) in a challenge to chipmaking GOAT Taiwan Semiconductor Manufacturing Company (TSMC). But in August, Intel’s stock tumbled when the company unexpectedly forecast a Q3 loss due to outdated equipment write-downs and slow sales. Gelsinger announced plans to lay off 15% of Intel’s staff and suspended dividend payments. To add insult to injury, the Biden administration finalized a $7.9 billion CHIPS Act grant last week—$600 million less than originally planned—to help Intel ramp up US-based chip production. Looking ahead: The government has [reportedly brainstormed]( other ways to boost Intel. While President-elect Donald Trump has been critical of providing federal funding, his administration is expected to be more inclined to greenlight a merger with a rival.—SK Together With AT&T Connected Car [AT&T Connected Car]( A road trip to remember. Here’s your chance to turn your dream road trip into a reality with AT&T Connected Car’s [upcoming sweepstakes](. One lucky winner gets an epic road trip along the Cali coast—plus a $1,000 gas card and a $1,000 bank card. Sign up for the 4-Day Test Drive to [get in the running](. GOVERNMENT [Flavored vapes made it to the Supreme Court]( [young person exhales e-cig vapor]( whitebalance.oatt/Getty Images Two e-cigarette makers, Triton Distribution and Vapetasia, tried to convince the nation’s most powerful nine-person ensemble yesterday that federal regulators unfairly stopped them from selling teen-favorite vapes that taste like a candy store. Despite what convenience store shelves suggest, most of the disposable vapes that started multiplying after mango Juul pods got banned are illegal under an FDA rule against flavored nicotine juice, which is from President-elect Donald Trump’s first term. Only 27 companies have the federal seal of approval, and only on tobacco- or menthol-flavored products—the FDA is [playing]( “whack-a-mole” with the rest, like Elf Bar, per NPR. In court yesterday: - The FDA [maintained]( that e-cig makers fell short of proving that the benefit of their product—helping adults quit cigarettes—outweighs the risk of getting kids hooked on nicotine, which they know they need to do in order to gain approval. - Lawyers for Triton and Vapetasia argued that the FDA changed its guidance over the past few years, like a moving target, and that the agency should reconsider its application. The Court appeared skeptical. Liberal justices echoed the FDA’s statements about the health hazards of flavored e-cigs, and Trump appointees Brett Kavanaugh and Amy Coney Barrett also [seemed doubtful]( that the FDA had altered application requirements, per NBC News. Looking ahead…the court’s decision is expected by the end of its term in June. Circumstances could change after Inauguration Day—despite previously banning flavored e-cigs, Trump vowed to “save vaping again” in a September post on Truth Social.—ML STAT [Prime number: Bible sales are up 22% this year](#) [a shelf end cap with Bibles and other religious books ] UCG/Getty Images Circana BookScan found that sales of the Good Book are up by 22% for the year through the end of October compared to the same period in 2023. Total US book sales were up by just 1% in the same period. HarperCollins Publishers even named the Bible a “[particularly strong seller]( in its most recent earnings report, according to the Wall Street Journal. Analysts pointed to the election cycle as well as advances in AI as causes for the uptick, as some members of the chronically online class shy away from traditional “self-care” in favor of a more lasting sense of peace. Mark Bertrand, the founder of Bible-design site [Lectio]( had another perspective: “I’d like to say there is a craving for knowledge of scripture, but a lot of smart people are thinking about Bible marketing and catering to every whim for Bible study,” he said. The WSJ says the US is in a golden age of Bible publishing.—HVL NEWS [What else is brewing](#) - [Holiday catalogs]( are shrinking this year to save on postage and materials. - [Stoli vodka]( filed for bankruptcy in the United States. - [Apple employees]( filed a lawsuit accusing the tech company of surveilling them. - [Jaguar]( revealed its all-electric concept car, the Type 00, during Miami Art Week. - [President Biden]( is in Angola (a first for a sitting prez) to highlight US investments there. RECS [To-do list banner] Your logo embroidered here: Introducing the Queensboro Sampler: polos, hats, tees, beanies, and more. Try them [for just $4.95]( including logo setup and embroidery. [Queensboro.com]( since 1982. Trust the Queen.* Rent (near) the runway: Here’s the case for staying at an [airport hotel](. Listen up: [NPR’s 50 Best Albums of 2024 list]( is a great place to start. New advent calendar dropped: This one is for [works entering the public domain in 2025](. Consider canceling your insurance: Are you wasting hundreds every year on overpriced car insurance? FinanceBuzz has a [free new tool]( to help you find out. See how much [you could save]( Flex for less: The [Barry’s Holiday Sale]( is on. Score class packages for as low as $20 per class, discounted memberships, and other special offers. [Hustle up—sale ends Dec. 8]( *A message from our sponsor. GAMES [The puzzle section](#) Brew Mini: Today’s crossword is a bit bigger than the standard Mini—perfect for procrastinating at work for an extra minute or two. [Play it here](. Word of the Year trivia In honor of “[brain rot]( being named the 2024 Oxford Word of the Year, here’s a trivia category on previous award winners. We’ll give you six Words of the Year from the past 20 years, and you have to put them in chronological order of when they were selected. Words: Climate emergency, vax, podcast, rizz, selfie, goblin mode 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=a905682a]( ANSWER Podcast (2005) Selfie (2013) Climate emergency (2019) Vax (2021) Goblin mode (2022) Rizz (2023) [Source]( Word of the Day Today’s Word of the Day is: ascertain, meaning “to find out or learn with certainty.” Thanks to Dalton Coleman from Dallas, TX, for the instructive suggestion. Submit another [Word of the Day here](. Written by [Cassandra Cassidy]( Sam Klebanov, [Molly Liebergall]( [Holly Van Leuven]( and [Neal Freyman]( Was this email forwarded to you? Sign up [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 m