☕️ Cup chaos

Why the new ESPN–NCAA contract is a big deal… January 05, 2024 [View Online]( | [Sign Up]( | [Shop]( [Morning Brew]( PRESENTED BY [Incogni]( Good Friday morning. Here is the highly anticipated Morning Brew In/Out list for 2024. Out: Glamping / In: Tents Out: Calling your partner a golden retriever / In: Saying “hello, puppy” to every dog you see on the street Out: Marathons / In: Triathlons Out: Marvel Cinematic Universe / In: MonsterVerse Out: Commenting on clips of old sitcoms, “You couldn’t make THAT joke today!” / In: The OfficeOut: Earnestness / In: Giving your pal a noogie Out: Making fun of Ohio / In: Ohio —Matty Merritt, Cassandra Cassidy, Molly Liebergall, Adam Epstein, Neal Freyman MARKETS Nasdaq 14,510.30 -0.56% S&P 4,688.68 -0.34% Dow 37,440.34 +0.03% 10-Year 3.991% +8.4 bps Bitcoin $44,309.61 +3.39% Peloton $6.13 +13.94% *Stock data as of market close, cryptocurrency data as of 12:00am ET. [Here's what these numbers mean.]( - Markets: Stocks continued their slow start to the year, with the Nasdaq dropping for the [fifth straight day]( marking its longest losing streak in over a year. The news was better for Peloton, whose stock climbed 14% after it [inked a partnership]( with TikTok to bring fitness videos to the social platform.  C-SUITE [Attacks on DEI are spreading to the corporate world]( [DEI graphic]( Illustration: Francis Scialabba, Photo: Getty Images The debate over “wokeness” has thrown the corporate world into turmoil. Diversity, equity, and inclusion (DEI) initiatives boomed following the murder of George Floyd in 2020, but now conservative investors and politicians are throwing their weight behind undermining those efforts. DEI programs existed long before 2020. In the corporate world, the term refers to initiatives or training that might help create more inclusive workplaces, especially ones that support historically underrepresented groups. Four years ago, many CEOs pledged their commitment to DEI, amping up anti-bias training and hiring like crazy (between 2020 and 2021, DEI-related job postings jumped nearly 30%). The effectiveness of those efforts was occasionally questioned, but there wasn’t a widespread movement to end them. Now, however, critics are rallying to rescind these policies, going as far as to deem them “reverse racism.” Billionaire investor Bill Ackman posted a 4,000-word roast of DEI efforts to X on Wednesday following the [resignation]( of Harvard President Claudine Gay, who is Black. - Joined in recent days by other prominent critics, Ackman claimed DEI is “the root cause of antisemitism at Harvard.” - Elon Musk later joined in, reposting Ackman and adding that “DEI is just another word for racism.” - Mark Cuban, a DEI supporter, [responded to Musk]( refuting his and Ackman’s claims by arguing that the DEI framework for hiring is in the best interest of business. - Ackman also called for the resignation of Penny Pritzker, the head of the Harvard Corporation. A Harvard spokesperson said that Pritzker will not be resigning. Outside of Harvard, Chip Wilson, the highly controversial founder and former CEO of Lululemon, [told]( Forbes this week that the company made a mistake by leaning into diverse advertising and that the brand is “not everything to everybody.” Lululemon said his views don’t represent the company’s. What’s the future of DEI in the workplace? As the country enters a tense election year, [HR experts]( say they’re devoted to making sure workplaces stay inclusive, but many are [distancing]( themselves from the term DEI—and data suggests some companies are already pivoting. By mid-2023, DEI-related job postings had dropped 44% compared to the prior year, according to data from Indeed, while tech giants like Meta and Google have significantly [scaled back]( diversity programs.—MM   PRESENTED BY INCOGNI [We’ve been trying to reach you]( [Incogni]( …about your car’s extended warranty. Tired of getting those calls? Here’s your chance to protect yourself, your personal data, and your sanity. Incogni is a [personal data removal service]( that scrubs your sensitive info (think: SSN, DOB, home addresses, health information, and contact details) from the web. With Incogni, [you get protection from]( - identity theft - health insurers raising your rates based on info from data brokers - robo and spam calls - scammers taking out loans in your name [Protect your personal info + get 55% off your annual plan with code MORNING](. WORLD [Tour de headlines](#) [People disperse near the scene where explosions occurred on January 3, 2024, in Kerman, Iran]Mahdi/Getty Images ISIS took responsibility for the deadly bombing in Iran. According to a post on its Telegram account, the terrorist group claimed it was behind the attack, which [killed 84 people]( during a memorial procession for General Qasem Soleimani. It was the deadliest attack in Iran since the country’s 1979 revolution. The group did not provide firm proof of its involvement, and its version of events differed from some reports in Iranian media. The attack further stoked fears that the Israel–Hamas war could turn into a wider regional conflict after this week’s assassination of a top Hamas leader in Lebanon, the US launching an airstrike that killed a militia leader in Iraq, and ongoing attacks by Iran-backed Houthi rebels on commercial ships in the Red Sea. Trump’s businesses received at least $7.8 million in foreign payments while he was president, documents show. Democrats on the House Oversight Committee [released a report]( on Thursday showing that entities controlled by 20 foreign governments, including China, Saudi Arabia, and Qatar, spent millions at the former president’s hotels and other properties between 2016 and 2020. The 156-page report includes public documents and internal financial records that Democrats obtained in court. More than two-thirds of the total that Trump’s businesses received ($5.5 million) was from China. The report’s release comes as Democrats’ GOP counterparts in the House are attempting to prove that President Biden personally benefited from his family’s foreign business dealings. Microsoft is adding an AI button to Windows keyboards. In the first update to the Windows keyboard in 30 years, Microsoft [announced]( that its new PCs will have a key dedicated to its Copilot AI assistant. The key will be located to the right of the space bar, where the menu key currently lives. Pressing the button will launch Copilot, which helps users with various computer tasks and is already integrated into the company’s search engine, Bing. Microsoft EVP Yusuf Mehdi told Axios it’s a “fundamental change” as tech giants increasingly bet on artificial intelligence. SPORTS [NCAA’s new ESPN deal is big for women’s basketball]( [Caitlin Clark playing basketball for Iowa]( Icon Sportswire/Getty Images Almost three years after a [viral video]( showed the disparity between the men’s and women’s weight rooms at the 2021 NCAA basketball tournament, the NCAA announced yesterday that it inked a $920 million broadcast [deal]( with ESPN that highlights women’s sports. Driving the eight-year deal is the women’s March Madness tournament, which accounts for about 57% of the deal, or $65 million annually, according to the NCAA. That’s 10 times what it was valued in ESPN’s prior contract with the association—a jump attributed in no small part to last year’s epic [championship]( game that brought in a record ~10 million viewers to see stars like Iowa’s Caitlin Clark. Also part of the deal…men’s and women’s tennis, volleyball, and several other sports. Division II and III basketball will also come to ESPN for the first time. Zoom out: Industry execs had speculated that the NCAA might break out women’s basketball in a standalone deal, the way it has with men’s (which has broadcast rights valued at over $1 billion annually), given the sport’s increased revenue and popularity. But the NCAA kept women’s bball in the [bundle]( likely due to the tightening market for sports media rights amid a decline in linear TV.—CC   TOGETHER WITH YNAB [YNAB]( Got $$$ resolutions? Most Americans (59%) do, and [YNAB]( can help you stick to your 2024 goals (and beyond). Use their spending app to create a new set of habits that’ll help you spend without guilt or second-guessing. See for yourself with [a free 34-day trial](. RETAIL [This viral water bottle caused retail chaos]( [Pink and Red 40-ounce Stanley cup Quencher]( Target The travel mug aisle resembled a hockey rink at some Target stores this week as shoppers nearly trampled each other to get a Stanley cup. Videos posted on TikTok show customers [camping outside]( Target, [jumping]( behind the cashier’s counter, and [racing each other]( to grab limited edition Valentine’s tumblers in pink and red that Stanley released on Dec. 31. The $20–$45 travel cups quickly [sold out]( Target told CNN—within minutes at some locations—and many are being resold on eBay and Mercari for more than $100 each. Nut-nut for Stanley cups: The 40-ounce Stanley “Quencher”—an insulated travel mug that fits in a cup holder—appears to be the new [it product]( among hydration-obsessed young people, especially women. On TikTok, there are 6.7 billion views on videos tagged #stanleycup (most of which are not about hockey) and nearly 1 billion views for the hashtag #watertok. The comically enormous Quencher has gotten so popular that it’s largely responsible for Stanley’s revenue jumping from $74 million in 2019 to $750 million in 2023, according to [CNBC](. How’d a blue-collar thermos-maker find success among the girlies? After hiring a new president in 2020—the [marketing guy]( who helped make Crocs cool again—Stanley attracted more women customers by introducing bright colors and leveraging social media influencers.—ML   GRAB BAG [Key performance indicators](#) [A woman checks her flight]Getty Images Stat: [Plane Lady]( and the [diarrhea flight]( might have led you to believe 2023 was a chaotic year in US aviation, but the Department of Transportation says not so fast. According to the agency, last year had the [lowest rate]( of flight cancellations in a decade. Just 1.2% of the 16.3 million flights in the United States were scratched, down from 2.3% in 2022. That improvement was partly due to a relatively smooth holiday season, when a mere 0.8% of flights were canceled, well below the 8.2% cancellation rate caused by a big winter storm in 2022. An ongoing industry hiring boom helped, too: Employment at airlines is now at a two-decade high. Quote: “They are not approved for—and should not be used for—cosmetic weight loss.” Eli Lilly stresses that its popular weight loss drugs are meant only for treating long-term, chronic diseases like obesity and diabetes, despite what a cavalcade of celebrities and influencers has encouraged. In an [open letter]( released on Thursday, the drugmaker clarified that its medicines Mounjaro and Zepbound—which are similar to Novo Nordisk’s Ozempic and Wegovy—are not FDA approved to make healthy people look a certain way. The FDA is now [investigating]( whether the drugs can lead to hair loss and suicidal thoughts. Read: Tom Scocca’s medical mystery: “The year my body fell apart.” ([New York magazine]( QUIZ [New year, new quiz]( [New Friday quiz image]( The feeling of getting a 5/5 on the Brew’s Weekly News Quiz has been compared to putting on your coat to leave just as someone suggests that everyone play a game. It’s that satisfying. [Ace the quiz](. NEWS [What else is brewing](#) - [Ford]( reported its best year of new vehicle sales since 2019, a day after [GM]( reported the same. - [The Golden Gate Bridge]( in San Francisco installed a suicide net for the first time in its 87-year history. - [Amer Sports]( the maker of Wilson tennis rackets, filed for an IPO that could reportedly be valued at up to $10 billion. - [Germany]( had its lowest emissions in 70 years in 2023 after it reduced its reliance on coal, according to a study. - [TGI Friday’s]( suddenly closed 36 “underperforming” restaurants as part of a new growth strategy. RECS [Friday to-do list] Watch: [30 TV shows]( to check out this winter, including the new season of True Detective. Choo choo: The most exciting [new trains]( coming in 2024. Pretend you’re Jacques Cousteau: The most stunning [deep-sea footage]( of 2023. Dance in the dark: [180 songs]( that turn 40 years old this year. Li’l wallet crew: 2024 = the year of smaller wallets—because [this card]( could be the only one you’ll need. [Up to 5% cash back]( + no APR ’til 2025.* *A message from our sponsor. GAMES [The puzzle section](#) Picdoku: Have you heard of semaphore? It’s a system of communicating information via the positioning of two flags. [Check it out in today’s Picdoku](. Friday puzzle What letter should replace the question mark below? ‘Asia’ is H ‘Cuffs’ is S ‘Ender’ is I ‘Redness’ is F ‘Fuchsia’ is ? 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 A. The entire thing is one long palindrome. [Source]( Word of the Day Today’s Word of the Day is: cavalcade, meaning “a line of people following a particular route.” Thanks to Gavin from Manchester, CT, for the orderly suggestion. Submit another [Word of the Day here](. Written by [Adam Epstein]( [Neal Freyman]( [Matty Merritt]( [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