☕ Tripfluencers

Get ready to wait at the airport this weekend... June 29, 2023 [View Online]( | [Sign Up]( | [Shop]( [Morning Brew]( SPONSORED BY [Indeed]( Good morning. One of the most frequently asked questions we get from readers is: What determines the order of the Brew writers’ names in this intro section? Despite what you may have speculated, it is not Neal picking favorites like he’s Abby Lee Miller on Dance Moms. It just represents the order of the authors of the news stories. So in today’s edition, Molly wrote the Shein story, Cassandra tackled air travel, and Matty made a joke about bulk Costco ham. Abby and Neal edited those stories and filled in the rest of the sections. Sorry if that isn’t as exciting as any of your conspiracy theories. —Molly Liebergall, Cassandra Cassidy, Matty Merritt, Abby Rubenstein, Neal Freyman MARKETS Nasdaq 13,591.75 +0.27% S&P 4,376.86 -0.04% Dow 33,852.66 -0.22% 10-Year 3.712% -5.5 bps Bitcoin $30,134.43 -1.63% Nvidia $411.17 -1.81% *Stock data as of market close, cryptocurrency data as of 2:00am ET. [Here's what these numbers mean.]( - Markets: Stocks ended mixed yesterday after Jerome Powell (and other major central bankers around the world) signaled that more interest rate hikes are as [inevitable]( as experiencing whiplash while taking in the Barbieheimer double feature. Speaking of double features, J-Pow hinted he couldn’t rule out two rate raises in a row. - Stock spotlight: AI-chip hero Nvidia fell on reports that the US is considering even more restrictions on chip exports to China.  E-COMMERCE [Shein’s influencer trip backfires]( [Fashion influencers were invited to tour a Shein model factory]( Illustration: Francis Scialabba, Photos: Shein Fast-fashion behemoth Shein recently pulled a Willy Wonka and invited a few influencers to tour one of its 6,000 factories. But instead of generating positive PR, the creators who went are getting flamed for promoting what’s being called a propaganda trip. Despite the brand’s history of alleged environmental harm and human rights abuses, a bunch of videos set to upbeat music show the fashion influencers praising their all-expenses-paid journey to a Shein “model factory” in Guangzhou, China. The clips have incited an online firestorm, including a [viral parody]( in which a sustainable fashion supporter pretends to gush over the Triangle Shirtwaist Factory. In a now-deleted video, Dani Carbonari, who’s been especially dragged for calling herself an investigative journalist but sounding like a Facebook uncle, [said]( “The China trip has been one of the most life-changing trips of my life,” and that her “biggest takeaway from this trip is to be an independent thinker, get the facts, and see it with your own two eyes.” But actual investigative journalists have seen Shein’s inner workings with their own two eyes. A [documentary]( released last fall revealed that workers were being paid pennies per clothing item on 18-hour shifts with almost no days off…which makes sense for Shein’s cheap and fast business model. Two dozen members of Congress have asked the SEC to halt the brand’s desired IPO until allegations of [forced labor]( are investigated. Zoom out: Brand trips have been a thing since the early days of YouTube vlogging, but the public has soured on the promotional vacations, so they’re becoming riskier for companies. Tarte Cosmetics recently came [under fire]( for “tone-deaf” displays of luxury on an influencer trip to Dubai, and for reportedly giving creators of color second-class treatment.—ML   SPONSORED BY INDEED [HR you ready for the future?]( [Indeed]( The world of work is changing rapidly (no secret there), and employees are looking for fairer, more fulfilling positions. Add the emergence of AI to this mix, and the recruitment industry is feelin’ more unpredictable than, well, ever. Success comes down to doing more with less, and [Indeed FutureWorks]( is the event with the tools and solutions to help you do it. This premier HR event includes opportunities to: - explore relevant and interactive roundtable discussions - network and join a growing community of global talent leaders - discover the latest tech and techniques to make hiring and retaining top talent easier Join Indeed FutureWorks in person from September 20–21 at the Georgia World Congress Center in Atlanta, or enjoy [complimentary virtual access]( on September 21. [View the agenda and save your seat](. WORLD [Tour de headlines](#) [Debris from the Titan being unloaded]CBC “Presumed human remains” found with Titan sub wreckage. After debris from Titan—the submersible that imploded en route to the Titanic, presumably killing its five passengers—was brought to land in Canada yesterday, the US Coast Guard [said]( that likely human remains had been found among the wreckage. The Coast Guard, which is among the governmental entities investigating the implosion, plans to bring the materials to the US for analysis. It’s still smoky out there. Wildfires continue to rage in Canada, and the wind keeps blowing the smoke into the US. Yesterday, smoke hovered over the Midwest while also heading east. All told, air quality alerts were in effect in [20 states]( and applied to almost a third of the US population, according to the Washington Post. In other unpleasant outdoor conditions, the heat wave in Texas shows no signs of letting up. It’s been blamed for at least nine deaths and is straining the state’s power grid. But [solar power]( has helped stave off blackouts. Everyone in South Korea just got younger. South Koreans officially became a year or two [younger]( yesterday. Unfortunately, the nation hasn’t discovered an elixir of youth it can export like a K-Pop group; it’s just changing how it determines ages. Traditionally, South Koreans counted babies as one year old at birth, and added a year for everyone on Jan. 1 (so a baby born on Dec. 31 turned two very fast). But a new law that just took effect brought the nation’s age counts in line with international customs. TRAVEL [Mass flight cancellations put a damper on the 4th]( [Airport departures dashboard with all flights canceled or delayed ]( Francis Scialabba Now may be the time to invest in an Amtrak pass. A combination of thunderstorms and staffing shortages led to more than 20,000 delayed and 5,000 canceled [flights]( across the country this week. And as we head into the Fourth of July weekend, with the TSA predicting tomorrow will be the busiest day of air travel since the pandemic began, more chaos is likely still to come. What’s the problem? The bad weather isn’t helping, and workers remain hard to come by even as travel has come roaring back post-pandemic. Scott Kirby, CEO of United Airlines, which has had the most cancellations, blamed FAA staffing issues. And he’s not alone, an audit of the FAA found: - 77% of critical facilities (like Air Traffic Control) are staffed below the 85% level the agency considers necessary. - FAA facilities in New York and Miami are staffed at 54% and 66%, respectively, which “poses a risk to the continuity of air traffic operations.” That’s not all. As of Saturday, a new 5G service is expected to cause [more]( delays and cancellations, as planes without updated equipment might experience interference from wireless transmissions, which bad weather could exacerbate.—CC   TOGETHER WITH LIQUIDPISTON [LiquidPiston]( And this little engine will upend a $400b industry. It’s called the X-Engine™, and it delivers up to 10x the power-to-weight ratio of legacy engines, plus up to 30% more fuel efficiency. No wonder its creators at [LiquidPiston]( have already secured $30m in contracts and 79 patents (granted + pending). Now’s your chance to [invest in LiquidPiston]( as they reinvent the $400b engine market. RETAIL [Costco pushes out moochers]( [Three hands holding a Costco card]( Hannah Minn Gone are the days of snagging your grandpa’s Costco card and buying a metric ton of ham on visits home. The retailer [said]( it’s getting serious about preventing non-members using members’ cards to enjoy the bulk riches. Technically, it was always against the store’s policy to use someone else’s membership card. But workers at the home of the $1.50 hot dog will now require shoppers using self-checkout to show their IDs. And those IDs had better match the Costco cards. Why now? The retailer relies heavily on membership fees—which brought in $4.2 billion in 2022—to offset its cheap prices, low margins, and now, inflation. Costco’s profits dipped 4% last quarter despite a 2% increase in revenue. So if you want to keep buying cheap rotisserie chickens, you’ll have to join the ranks of Costco’s [124.7 million]( cardholders. A Gold Star Membership will set you back $60, while an Executive Membership costs $120 and offers some bonuses (like a 2% rebate at the end of the year as well as auto and travel perks). We are entering the “no sharing” era: Costco is taking a page from Netflix’s playbook. The streamer started cracking down on password sharing and immediately saw a huge [spike]( in subscription sign-ups.—MM   GRAB BAG [Key performance indicators](#) [Leonardo DiCaprio throwing money off a yacht in The Wolf of Wall Street]The Wolf of Wall Street/Paramount Pictures via Giphy Stat: If you’re hoping to pivot to a high-paying job, you might want to go back to school—not to level up your skills but to become eligible for an [internship]( on Wall Street. Interns at Citadel are making a median $120 per hour this summer, a 25% jump from last year, according to Bloomberg. Big banks are also shelling out to nab young talent (Citi’s paying $50 per hour), and offering perks like sign-on bonuses. In what we’re sure is totally unrelated news, recent and soon-to-be college grads polled by the CFA Institute ranked finance as the No. 1 industry they’d like to work in (in 2021, it ranked fifth). Citadel got more than 69,000 applicants for its internship program. Quote: “Dead forever.” That’s how Steven Roth, chairman of one of New York City’s largest commercial landlords, Vornado Realty Trust, [described]( Fridays at the office to investors, per the Wall Street Journal. And Mondays? They’re “touch and go,” Roth said. But he doesn’t think you’re going to kill his business by refusing to put pants on—the company is betting that workers will still be willing to schlep into the office on other days, as long as the commute’s not too bad. And it’s betting big, pouring $1.2 billion into revamping office buildings next to Penn Station. Read: The viral chart that’s got people nervous about AirBnb…and the housing market. ([Twitter]( NEWS [What else is brewing](#) - [New York Yankees]( pitcher Domingo Germán threw a perfect game—MLB’s first since 2012. - [The 23 biggest banks]( all passed a stress test that simulated a severe recession, the Federal Reserve said. - [Protests]( erupted in suburban Paris after police fatally shot a 17-year-old during a traffic stop. French President Emmanuel Macron called the death “inexplicable and inexcusable.” - [Simone Biles]( gymnastics’ GOAT, will return to competition in August for the first time since the Tokyo Olympics, potentially putting her in position to compete in the Paris games. - [Luxury watch prices]( are at their lowest in almost two years, Bloomberg reports, in case you were looking for a bargain on a Patek Philippe. - [Madonna]( is putting her upcoming tour on hold after being hospitalized for a severe bacterial infection. RECS [To do list Thursday] Rosé all day: The best [pink wines]( for when you want your drink to be Barbiecore. Follow the rules: This [game]( asks you to pick a password. It’s harder than it sounds. Watchin’ the trains go by: You don’t have to sit by the railroad track to get a glimpse, thanks to freight train [livestreams](. Commitment inspo: May we all go as hard as Jennifer Lawrence eating spicy wings ([YouTube](. Level up: Starting your journey to become a CFO? [Find out]( which stakeholders have a say in potential candidates and what factors companies consider behind the scenes. Workin’ it: Indeed FutureWorks is the [premier HR event]( confronting the rapidly changing world of work with fresh tech, techniques, and solutions. Join in person from September 20–21 or enjoy complimentary virtual access by [registering]( Money’s calling: Season 4 of Fresh Invest, our podcast with Fidelity®, drops soon, and we wanna answer all your investing-related questions. Let us know what you’re thinkin’ in [this quick survey]( and you might win a $250 AmEx gift card.* *This is sponsored advertising content. GAMES [The puzzle section](#) Brew Mini: Today’s crossword is very gettable—Neal solved it in 1:53. Think you can beat that? [Play it here](. Three Headlines and a Lie Three of these headlines are real and one is faker than whatever is in an Oreo 100 calorie pack. Can you spot the odd one out? - Joey Chestnut in talks to [host]( new dating show A Bite Out of Love - Scholar [finds]( doodles made by Henry VIII in ancient prayer book - NASA is [recycling]( 98 percent of astronaut pee and sweat on the ISS into drinkable water - Air passenger gets plane all to himself after [waiting]( out 18-hour delay 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]( AROUND THE BREW [You new coworker: AI]( [Tech Brew graphic]( If you use enterprise software—like 90% of high earners do—say hello to your new colleague: AI. [Dig into the stats here](. Strava (your fit friend’s favorite place to flex) is the leading platform at the center of connected fitness. Watch [our interview]( with the company’s chief business officer. Employee data: HR teams have a ton of it, but how can it be used to improve your business? [HR Brew is here to help](. ANSWER We made up the one about Joey Chestnut. Written by [Neal Freyman]( [Molly Liebergall]( [Cassandra Cassidy]( [Matty Merritt]( and [Abigail Rubenstein]( Was this email forwarded to you? Sign up [here](. 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