ITK Daily is insights at the intersection of globalization, disruption, politics, culture, + sport.
GLOBALIZATION + STATECRAFT
Japan wants to create special zones to boost foreign investment
Japan's Prime Minister Kishida plans to create special investment zones focused on asset management, where English will be the primary language.
These investment zones aim to attract global talent and tap into Japan's vast 2.1 quadrillion yen ($14.2 trillion) in household assets.
Kishida's government is also looking to revise laws to relax regulations on foreign investment, address Japan's unique business practices, and ease barriers to entry into the nation's market.
Japan needs to address the negative effects of the country's falling birthrate and aging population on the broader economy.
Japan's population looks to fall to 87 million by 2070, shrinking 30 percent from 2020, a government estimate showed earlier this year.
DISRUPTION
Apple struggles with in-house modem chips
Apple's attempt to create an in-house modem chip for its iPhones as an alternative to Qualcomm ended in a costly failure.
Apple's brute force tactic of employing thousands of engineers, a past successful strategy for designing the brains of its smartphones and laptops, wasn't enough to produce a working modem chip.
Despite Apple's success with microprocessor chips, creating a modem proved challenging due to compatibility requirements with wireless networks worldwide.
The project, code-named its modem chip project Sinope, after the nymph in Greek mythology who outsmarted Zeus, aimed to reduce expenses and end ties with Qualcomm.
Apple spent over $7.2 billion on Qualcomm chips in 2022.
Despite setbacks, Apple is determined to continue its pursuit, driven by its desire to distance itself from Qualcomm and support its wallgarden business model.
POLITICS
Americans hate American politics
The Pew Research Center just dropped some jaw-dropping numbers.
65% of Americans say they always or often feel exhausted when thinking about politics.
Only 4% of US adults believe the political system is functioning well, with 23% stating it's somewhat functional.
A significant 63% lack confidence in the future of the US political system.
Dismal numbers.
And the next election isn't going to help improve the mood.
Dissatisfaction with both political parties is at a three-decade high, with 25% feeling unrepresented.
Plus, the current presidential candidates fail to impress, as 63% express dissatisfaction with those in the running. Americans also say the quality of political candidates has declined by roughly 20% since 2018, with only 26% considering them good.
There are 408 days until the next federal election on Tuesday, November 5, 2024.
It's hard to see any of these numbers getting better when the campaign starts to heat up.
CULTURE
The enduring tension between Mick Jagger and Keith Richards
The iconic 80-year-olds held a presser announcing the forthcoming release of Hackney Diamonds, their first album of new material in nearly 20 years, even though the two haven't been close in decades.
The source of their discord traces back to incidents like the making of the film "Performance" with Mick's scenes with scenes with Keith's lover, Anita Pallenberg, in 1968 and Mick's solo career in the 1980s.
Keith humorously commented on Mick's solo album sales, She's The Boss: "It's like Mein Kampf. Everybody had a copy, but nobody listened to it."
Interestingly, Mick chooses not to look back and shares his life on Instagram, while Keith did look back and authored an autobiography.
Their dynamic symbolizes the dilemma older individuals face in today's fast-paced, tech-driven, morally complex world: to keep up or not.
Also, dynamic symbolizes the need for friction to create timeless art.
SPORT
Constance Schwartz-Morini - The comms pro behind Deion Sander
Constance Schwartz-Morini's background includes creating strategic marketing divisions in the NFL, working at talent management agency The Firm, and launching SMAC Entertainment — which stands for Sports Media and Culture.
Bruce Feldman of The Athletic reports Schwartz-Morini's business approach is rooted in the same outlier vibe that has enabled Sanders to do things few believed he could. They don't get tangled up in why something can't work; instead, they think about why it will.
In this regard, she and Sanders are kindred spirits: "The more people who tell us why we can't do something just puts the battery in our back of why we can do it."
Enjoy the ride + plan accordingly.
-Marc
Marc A. Ross | Chief Communications Strategist @ Caracal
Caracal produces ITK Daily.
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