Good Morning, Quartz Readers!
As the sun rises on another day filled with intriguing news, let’s dive into the latest happenings that are shaping our world. From financial trends to quirky fast-food updates, there’s plenty to unpack.
The Chase “Infinite Money Glitch” Exposed
In a twist that has left many TikTok users reeling, the so-called "infinite money glitch" associated with Chase Bank is proving to be anything but infinite. This viral trend, which encouraged users to exploit loopholes in the banking system, has caught the attention of Chase, leading the bank to take legal action against those who participated. This serves as a stark reminder that while the allure of easy money can be tempting, the repercussions can be severe.
Boeing’s Financial Struggles
In the aviation sector, Boeing is making headlines for its ambitious plan to raise $19 billion amid ongoing delivery delays and worker stoppages. The company has officially filed its prospectus for this massive equity cash-raise, candidly addressing the existential threats posed by a machinist strike. As Boeing navigates these turbulent waters, investors and industry watchers alike are keenly observing how this financial maneuver will impact the company’s future and the broader aerospace market.
Robinhood Enters the Political Arena
In a surprising move, Robinhood is stepping into the political sphere by allowing customers to invest in derivatives based on the outcomes of the presidential election. This innovative approach not only reflects the growing intersection of finance and politics but also raises questions about the ethical implications of betting on political outcomes. As Robinhood continues to evolve, its foray into political investment could reshape how individuals engage with both finance and governance.
Thanksgiving Price Wars
As the holiday season approaches, the competition among retailers is heating up. Target is positioning itself as the go-to grocery store for budget-conscious shoppers, aiming to outdo Walmart and Aldi in the race to offer the best prices for Thanksgiving essentials. This price war is not just about attracting customers; it’s a strategic move to capture market share during one of the busiest shopping seasons of the year. As consumers become increasingly price-sensitive, the stakes have never been higher for these retail giants.
McDonald’s McFlurry Machines: A Sweet Victory
For years, the broken McFlurry machines at McDonald’s have been a running joke among fans and critics alike. However, a recent court ruling may change that narrative. The U.S. Copyright Office has granted McDonald’s locations the “right to repair” their McFlurry machines, previously hindered by digital locks protecting the manufacturer’s intellectual property. This ruling could lead to a renaissance of McFlurry availability, much to the delight of dessert lovers everywhere.
The Thirsty AI Industry
In a surprising revelation, the artificial intelligence industry is consuming an astonishing amount of water. According to a report from JPMorgan Chase and the ERM Sustainability Institute, mid-sized data centers use as much water annually as a town of 50,000 people. Alarmingly, a significant portion of this water is sourced from stressed watersheds, raising sustainability concerns. As AI continues to expand, the question remains: can this industry coexist with the environmental challenges it poses?
More from Quartz
- Cancelled Flights: The government has now established an official definition of what constitutes a “cancelled flight,” providing clarity for travelers.
- Subway Lawsuit: A class-action lawsuit claims that Subway has been skimping on its sandwich meat, sparking debates about food quality and transparency.
- Alzheimer’s Drug Acquisition: AbbVie is making headlines with its acquisition of an Alzheimer’s drug for over $1 billion, highlighting the ongoing battle against this devastating disease.
- Federal Budget Cuts: Elon Musk has suggested that he could slash nearly a third of the federal budget, proposing cuts of at least $2 trillion.
- American Airlines Milestone: American Airlines has achieved a significant milestone by flying its longest-distance flight ever, showcasing the airline’s expanding capabilities.
- Volkswagen Layoffs: In a troubling development, Volkswagen is planning to shutter factories and lay off thousands of workers, reflecting broader challenges in the automotive industry.
Surprising Discoveries
- NFL Snack Preferences: NFL teams reportedly consume at least 80,000 Smucker’s Uncrustables each year, revealing the league’s favorite snack.
- Biohacking Enthusiast: An 81-year-old investor is spending $70,000 annually on biohacking in an attempt to reverse aging, showcasing the lengths some will go for longevity.
- AI Content Surge: Medium’s CEO reports a tenfold increase in AI-generated content since the start of the year, raising questions about content quality and authenticity.
- Cannabis Trends Among Teens: Recent studies indicate that more teen girls are experimenting with cannabis than boys, despite both groups reporting lower usage compared to previous years.
- Timothée Chalamet Lookalike Contest: In a fun twist, a Timothée Chalamet lookalike contest in New York City attracted over 2,500 attendees, one of whom turned out to be Chalamet himself.
As we navigate through these fascinating stories, we invite you to stay informed and engaged with the world around you. If you have any news, comments, or insights to share, feel free to reach out. Here’s to a productive day ahead!