ITK Daily | April 4
José Andrés, Swing States, Moon, Lotteries, Chiefs + Royals, plus 1,000 more actionable insights.
ITK Daily is geopolitical business news + intelligence for comms pros.
Always Be Communicating.
Happy Thursday.
Here’s today’s ITK Daily:
*** Ross Rant ***
Dropping this week...
Always Be Communicating. The Manifesto.
Secure your advance copy by sending an email to marc@carcal.global.
*** Globalization + Geopolitics ***
Reuters: Chef Jose Andres says Israel targeted his aid workers 'systematically, car by car'
Let people eat José Andrés
+ José Andrés is the founder of World Central Kitchen.
José Andrés’ moment of crisis and grief: The celebrity chef became a unifying DC hero. Now he’s in the middle of the most divisive issue of the year. Politico
Biden’s not changing Israel policy after deadly strike on aid workers: Politico reports some of his senior officials think it’s “a blatantly horrific and stupid mistake.”
Israel’s protest movement re-emerges with focus on bringing down Netanyahu: WSJ reports frustration with prime minister’s handling of war revives antigovernment demonstrations.
Bloomberg: Taiwan quake jolts production of world’s most advanced chips
+ Taiwan's biggest earthquake since 1999 is likely to cause some disruption across Asia's semiconductor supply chain, analysts say, after chipmakers from TSMC to UMC halted some operations to inspect facilities and relocate employees.
Bloomberg: US attack submarines to counter China are running up to two years late
+ Workforce shortages from the pandemic seen as a factor in delays
+ Delays could affect AUKUS partnership with Australia, UK
+ The US Navy’s submarine program is facing 24-36 months of delays, largely driven by shipyard capacity. These delays could undermine plans to deliver at least 5 Virginia-class subs to Australia starting in 2032.
NHK: Head of US Army Pacific voices concern over China's military activity in region
+ The head of US Army Pacific has warned that the Chinese military is on an "irresponsible path" in its growth across the region.
US seeks to 'integrate' Japan into defense industrial base: Nikkei reports at the summit, leaders to discuss co-development and co-production of munitions and platforms
Japan, US, Philippines to form joint cyberdefense network: Nikkei reports Biden, Kishida, and Marcos to agree on measures guarding against China, Russia
Tokyo in talks with Manila over sending troops to the Philippines: FT reports possible deployment comes as two countries boost efforts to deter China in South China Sea.
Janet Yellen missed the first ‘China Shock.’ Can she stop the second? Treasury secretary heads to China this week with a tough economic message as the Biden administration moves toward raising tariffs. WSJ
US and China continue to talk, but economic divide remains wide: Election-year rancor will make it difficult for Washington and Beijing to find areas of cooperation on trade and investment. NYT
The mind-bending new rules for doing business in China: Xi Jinping is sending mixed messages to Western bosses and investors. Economist
Chinese Communist Party launches speed dating program to halt demographic decline: Social traditions and living conditions discourage many young people from having several children or even starting a family. Le Monde
‘Made in Australia’ drive aims to shift economy from ‘world’s quarry’ label: Canberra puts funds into manufacturing revival to reduce reliance on resources and agriculture. FT
Ukraine is at great risk of its front lines collapsing: Politico reports according to high-ranking Ukrainian officers, the military picture is grim and Russian generals could find success wherever they decide to focus their upcoming offensive.
Zelensky lowers Ukraine’s draft age, risking political backlash: NYT reports the idea of requiring more men to join the fight against Russia’s invasion has become toxic, but Russia is not relenting in its assault.
Nepal is losing young men to Russia's war in Ukraine: Nepal has become a recruiting ground for Russia’s war against Ukraine. Thousands of young men have left the impoverished South Asian nation to join Russia’s army — and are reportedly sent to the front lines with little or no training. DW
Macron didn’t want to humiliate Putin. Now he wants to get tough. French president once advocated dialogue with Russia but now wants to keep all military options open in Ukraine, unsettling NATO allies. WSJ
The Times: The Tory MPs set to lose their seats — including Jeremy Hunt and Penny Mordaunt
+ A YouGov poll suggests eleven senior Tories will be ousted at the next general election
Labour could win more than 400 seats at the general election, according to a YouGov poll. The Conservatives could be left with just 155 MPs.
Greece has approved the purchase of 35 UH-60M Blackhawk helicopters from US defense contractor Lockheed Martin Corp in an effort to modernize its armed forces, two people with knowledge of the deal told Reuters.
Is Italy overtaking Germany as Europe's economic powerhouse? While Germany's economy is stalling, Italy is experiencing continued growth. But this has little to do with PM Giorgia Meloni's economic policies and everything to do with subsidies and new debt. DW
Brazil’s 1964 coup casts a long shadow over Lula: The leader has come under fierce criticism for his failure to commemorate the dark period. Michael Pooler
The US exported more LNG than any other country in 2023, with 66% of exports going to Europe and 26% to Asia.
*** US Politics + Elections ***
Trump leads Biden in six of seven swing states, WSJ poll finds: Incumbent trails in most battlegrounds that decided 2016 and 2020 elections. WSJ
Abortion vs. immigration fuels heated Biden-Trump rematch: WP reports many voters have said they are focused on other topics, such as inflation, President Biden’s age, Donald Trump’s criminal cases, and the war in the Middle East. But each side is betting that immigration and abortion will be especially galvanizing for their supporters.
RFK Jr. voters span the political spectrum. But they agree on disliking Biden and Trump. WP reports Robert F. Kennedy Jr. has found an opening amid Trump’s and Biden’s unpopularity, attracting Sanders liberals, DeSantis conservatives and others.
CNN: Trump is trying everything he can to delay this month’s hush money criminal trial
Judge won’t delay Trump’s criminal trial to wait for immunity ruling: NYT reports the former president had asked the judge to push back his Manhattan criminal trial, slated to begin April 15, until after the Supreme Court decides whether he is immune from prosecution.
Politico: Trump, RNC raised $65.6 million in March
+ RNC's ended the month with $93.1 million in cash on hand
+ In February, Biden and the Democratic National Committee raised $53 million, Biden’s campaign said, and ended the month with $155 million on hand.
The Hill: Biden campaign posts best grassroots fundraising month to date in March
Biden and corporate America? It’s ‘complicated.’ The president has courted executives with long listening sessions and sustained outreach, but frustrated many with his tax plans and regulations. NYT
How Biden’s White House gathering for Ramadan unraveled over Gaza: NYT reports some Muslim community leaders said it would be wrong to attend an iftar meal with President Biden while Gaza is under siege.
*** Disruption + Innovation ***
In a first, FDA authorizes AI-driven test to predict sepsis in hospitals WP
Goldman Sachs forecasts an AI-driven investment cycle with $250 billion of annual hardware investment, equivalent to 9% of US business investment or roughly 1% of US GDP, through 2025. Goldman Sachs expects this capex cycle to peak at 2-2.5% of US GDP by 2032.
AI + Energy: Michael Cembalest at JP Morgan notes McKinsey, BCG, and S&P Global all expect American electric power demand to grow 15-30% annually until 2030, with previously unanticipated power demand from AI a major driver.
Apple explores home robotics as potential ‘next big thing’ after car fizzles Bloomberg
Microsoft + Quantinuum on Wednesday said they have achieved a key step in making quantum computers a commercial reality by making them more reliable.
Google considers charging for AI-powered search in big change to business model: Proposals would mark first time any of the software group’s core product falls behind a paywall. FT
Bloomberg: Elon Musk says he’s boosting Tesla pay to stop OpenAI from poaching
Shoplifting, self-checkout, and the limits of AI: A shortlived retail crime wave is a warning about the unintended consequences of automation. Brooke Masters
Amazon's AI stores seemed too magical. And they were. The 1,000 contractors in India working on the company’s Just Walk Out technology offer a stark reminder that AI isn’t always what it seems. Parmy Olson
Business schools are going all in on AI: American University, other top MBA programs reorient courses around artificial intelligence; ‘It has eaten our world.’ WSJ
WhatsApp back up after outages around the world: DW reports tens of thousands of WhatsApp, Instagram, and Facebook users in the US, India and other countries had been unable to access the popular platforms. WhatsApp later reported the service was back.
Apple suffered outages at several of its offerings Wednesday, including the App Store, its Music service and the TV+ streaming platform.
What the TikTok bill gets wrong: Congress should regulate all social media apps—not just Chinese ones. Aynne Kokas
Intel and industrial policy in action: The US chip maker now says it will need even more subsidies, as it loses money on its foundry business. WSJ - Editorial
Nvidia partner bets $3.9 billion on the Midwest’s chip-making potential: WSJ reports SK Hynix plans facility in West Lafayette, Ind., amid uptick in Midwestern semiconductor projects.
NASA awards contracts to three companies for new autonomous moon rovers: The contracts went to Venturi Astrolab, Intuitive Machines, and Lunar Outpost. The vehicles are intended to help NASA explore the moon. WP
Disney + Bob Iger won a proxy fight, rejecting dissident investor Nelson Peltz’s bid for a board seat.
JPMorgan Chase launched a new digital media business on Wednesday that would allow advertisers to target Wall Street bank's 80 million customers based on their spending data.
Office vacancies in the US rose to a record 19.8 percent in the first quarter, according to Moody’s, as the commercial real estate sector remains under pressure.
Rivian exceeded analysts' projections by producing 13,980 electric vehicles (EVs) and delivering 13,588 to customers in the first quarter.
Why Hertz’s big bet on EVs didn’t work: Two Wall Street investors bought Hertz with ambitious hopes of revamping the rental car industry. But their big bet on electric vehicle rentals didn’t go as planned. Bloomberg
The White House has directed NASA to devise a plan for establishing a time standard for the moon and other celestial bodies, aiming to set international norms in space, Reuters reports.
Why the Moon needs its own time: The seconds really do pass more quickly up there. Economist
Patient with transplanted pig kidney leaves hospital for home: NYT reports Richard Slayman, 62, is the first patient to receive a kidney from a genetically modified pig. Two weeks after the procedure, he was well enough to be discharged, doctors said.
*** Culture ***
Palm Beach elite raise money to lure Vanderbilt to Florida: Bloomberg reports wealthy Florida residents and developers are looking to raise at least $300 million for Vanderbilt University to build a sprawling campus in West Palm Beach.
The economics of American lotteries: Our analysis shows poorer citizens spend a staggering amount on tickets. Economist
George Carlin’s estate settles lawsuit over AI comedy special: WP reports in a proposal awaiting a Central District of California judge’s approval, the team that created, uploaded and promoted “George Carlin: I’m Glad I’m Dead” agreed to being permanently forbidden from sharing the hour-long YouTube video on any of its platforms, and to never again use Carlin’s image, voice or likeness unless approved by the comedian’s estate.
*** Sport ***
The Elite Eight matchup between Iowa and LSU shattered records as the highest-rated women's college basketball game in history, drawing over 12 million viewers and peaking at 16.1 million.
WP: LSU star Angel Reese declares for this month’s WNBA draft
WP: Chiefs, Royals face uncertain future in Kansas City after stadium tax defeat
Inside the college football ‘Super League,’ one powerful group’s idea to fix a ‘dead’ system The Athletic
Enjoy the ride + plan accordingly.
-Marc
ITK Daily | April 4
