Power. Innovation. Identity. Madonna @ 60
Marc Ross Daily
August 16, 2018
Curation and commentary from Marc A. Ross
Reporting from Alexandria, Virginia
Marc Ross Daily = Business News at the Intersection of Global Politics + Policy + Profits
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TOP FIVE
✔️ Italian populists blame EU for Italian bridge disaster
✔️ China sending vice-ministerial delegation to US
✔️ She works for Trump. He can’t stand him.
✔️ 60 times Madonna changed our culture
✔️ La Liga to play matches in the US
ROSS RANT
Thought leadership valuation
Tesla market value:
August, 2013: $17.9 billion
August, 2018: $58.5 billion
Much of Tesla's value is in the currency of trusting Musk as a solid business executive and thought leader.
His recent actions challenge this belief.
GEOECONOMICS
Today: Brexit talks between the UK and the EU will resume in Brussels
Westminister: Theresa May has seen the most rebellious backbench MPs of any Tory government in the post-war era, new research has found.
Israel: The government announces a $24M three-year cybersecurity R&D program.
Bloomberg: Italian populists blame EU after Italian bridge disaster kills at least 35
Italy’s populist government targeted business elites and Brussels last night as it sought to harness growing anger over the Genoa bridge collapse that has killed 39 people.
“Someone may be held responsible, in about 30 years”
20: Since the First World War, economic sanctions have only achieved their stated objective about a fifth of the time, according to the Peterson Institute.
Greg Ip: On Turkey, another step in the weaponization of global finance https://on.wsj.com/2ODOx6Y
US tariffs intensify pressure on the Turkish lira, raising prospect of an open-ended cycle of protectionism and devaluation.
US, China plan trade talks as tariffs dispute takes toll: WSJ reports, Washington and Beijing reached a modest breakthrough in their standoff over trade, saying they will hold lower-level talks later this month on the spiraling dispute.
China to send vice-ministerial trade delegation to US: FT reports, first formal talks to be held since tariffs imposed on $50bn of goods.
Talk about talks to talk about how much Team Trump intends to make US-China commercial relations a campaign issue this fall - my guess.
@Bea_Cao: #China Vice Commerce Minister Wang Shouwen will visit the #US late August to have discussions with US Under Secretary for International Affairs David Malpass about China-US trade issues.
Bloomberg: Five sticking points keeping Xi and Trump from a trade deal https://bloom.bg/2BgUbu5
1. Technology transfer
2. Industrial overcapacity
3. SOE reform
4. Industrial policies
5. Cloud computing
Ben Harburg: Americans don’t know China—and that’s a huge problem https://for.tn/2OH36Xy
From 2015 to 2016, China sent over 328,000 students to America, while the U.S. sent roughly 11,000 to China.
Nikkei: Trade war fuels Taiwanese producers' withdrawal from China
Taiwan hotel axes Marriott contract over China naming row: AFP reports, the owner of a Starwood-branded hotel in Taiwan said Thursday it will terminate its contract with Marriott International, in protest over the US group caving in to Beijing pressure to list the island as part of China. Marriott was strongly criticised by Chinese authorities in January for listing Taiwan -- along with Tibet and Hong Kong -- as separate countries, all regions which Beijing claims under its authority.
China ‘dissatisfied’ as US backs Taiwan and scrutiny of foreign firms: SCMP reports, Beijing has condemned U.S. President Donald Trump for signing an act committing to stronger military support for Taiwan and placing Chinese companies under closer scrutiny, saying the move will damage the countries’ ties.
Smoke at China's annual conclave signals political trouble for Xi: Nikkei reports, Zhou Enlai's advice from 1974: Never fall, never leave, never choose death. https://s.nikkei.com/2BctfeO
13: China accounted for about 13 percent of total funds invested in US startups that took venture capital investment from 2015-2017.
$228 billion: China imported about $228 billion worth of integrated circuits in 2016 – more than it spent on imported oil.
Brigadoon Scotland 2018 = Nov. 11-13, 2018
AMERICAN POLITICS
Today: More than 100 newspapers will publish editorials decrying Trump's anti-press rhetoric. The Boston Global coordinated the effort, the report says. Each publication will write its own editorial, but on the same theme.
Trump revokes security clearance of former CIA director Brennan, a critic of the president: WP reports, Trump has revoked the security clearance of former CIA director John O. Brennan, White House press secretary Sarah Huckabee Sanders announced Wednesday, citing “the risk posed by his erratic conduct and behavior.” Brennan is a leading critic of Trump who as recently as Tuesday sharply denounced the president for calling his former aide Omarosa Manigault Newman “that dog.” Trump is also reviewing security clearances of other former officials including former FBI director James B. Comey, Sanders said during a regular White House news briefing.
John Brennan: President Trump’s claims of no collusion are hogwash https://nyti.ms/2Bgviyv
"Trump was not only encouraging a foreign nation to collect intelligence against a United States citizen, but also openly authorizing his followers to work with our primary global adversary against his political opponent."
Trump’s lawyers prepare to fight subpoena all the way to the Supreme Court: WP reports, Rudolph W. Giuliani said President Trump’s lawyers are “pretty much finished” drafting a response to a potential subpoena request from special counsel Robert S. Mueller III’s office.
Cyber: Trump has reversed an Obama-era memorandum governing how and when the US government can deploy cyberweapons.
WP: Trump boasts about ‘great new trade deals.’ So far, he hasn’t finalized any.
@ChadBown: President Trump has only imposed tariffs. He has yet to get any other countries to remove their tariffs or to remove his own tariffs. There are not yet any trade deals. None.
What about the glass industry, or the brick industry, or the textile industry, or the cement industry, or the (insert) industry.........#CommandingHeights
Pelosi talks about ‘bridge’ to new leader for Democrats: NYT reports, Nancy Pelosi, the House Democratic leader, is confronting threats from different corners of her party, posing the most serious test of her 15-year grip on the caucus.
CA-GOP: Republicans are now basically just an interest group here, Politico Playbook reports. There are more independents than registered Republicans.
She works for Trump. He can’t stand him. This is life with Kellyanne and George Conway. WP reports, the Conways, like the rest of the country, have been jolted by the President Trump. They love each other, exasperate each other and talk behind each other’s backs. Take a look inside the marriage of one of Trump’s most loyal advisers and her husband, an increasingly outspoken critic of the president.
“If the president were simply mediocre or even bad, I’d have nothing to say. This is much different.”
ENTERPRISE
Apple is developing a dedicated biometric chip.
T-Mobile said it is partnering with Pandora and Live Nation Entertainment to offer its customers free music, special seating and other perks in an effort to attract and retain customers.
WSJ: SEC serves Tesla with subpoena over Musk buyout tweet
Atlantia warns investors after Genoa bridge collapse: FT reports, shares tumble as Italian government begins process for revoking concession to subsidiary Autostrade.
LAT: Best Buy is acquiring San Diego's GreatCall for $800 million, boosting its technology lineup for seniors
Amazon is in the running to acquire Landmark Theatres, a move that would vault the e-commerce giant into the brick-and-mortar cinema industry.
Radio star: PRI and PRX are merging in a bid to create a podcasting juggernaut.
From masthead to Maître D’: Gabé Doppelt at Tower Bar https://nyti.ms/2MOPyIZ
“Believe it, darling!”: A longtime magazine editor enters the hospitality industry.
iBuyers: Companies purchase homes directly from sellers—cutting out estate agents—then spruce them up and relist them at a premium. They offer speed and certainty for the seller (transactions can be completed in a few days) in exchange for a slight discount relative to market value. iBuyers’ current market share is tiny but likely to grow.
Tencent Tumble: China's Tencent has lost over $175 billion of its value this year.
Uber's losses increased in Q2, up to $659 million from $577 million in Q1.
TRENDS
The notion of luxury has become meaninglesshttp://bit.ly/2BrQ66v
"Just as we have seen with ‘craft’ and ‘natural’, the word ‘luxury’ has been appropriated by lazy marketers." -- Sebastien van Laere, strategic research director, The Future Laboratory
The Defense Department has produced the first tools for catching deep fakes: Fake video clips made with artificial intelligence can also be spotted using AI—but this may be the beginning of an arms race.
@HarvardBiz: A recent study of 170 organizations with $1 billion or more in revenue found that over 82% are currently using a lean startup approach in some aspect of their business
"If someone insists on experiencing your experience before you give them the experience, it’s really unlikely you’re going to be able to delight them." -- Seth Godin
CULTURE
HBD: Madonna, singer-songwriter, Like a Virgin (1984), and actress, Desperately Seeking Susan (1985), 60
60 times Madonna changed our culture: Power. Innovation. Identity. Madonna has blended all of these and much more into a singular career. For her 60th birthday, we assessed her influence. https://nyti.ms/2BfJ703
"She dropped out of the University of Michigan School of Music, Theater & Dance, which she attended on scholarship, with a dream: to dance in New York."
El Chapo is making New York traffic even worse: Authorities must close the Brooklyn Bridge each time the drug lord’s motorcade brings him to court.
Powerful women told me getting a dog is the key to success. They were right. http://bit.ly/2PeMqYn
SPORT
The Tiger effect: Tiger Woods' run in the final round of the 100th PGA Championship was the most-watched, highest-rated PGA Championship broadcast since 2009.
Spain’s La Liga to play matches in the US: FT reports, Country’s top football league in push to challenge popularity of English competition.
Executives added that the focus was to play the first regular season La Liga match in the US “as soon as possible”, either this season or next.
AFP: Thomas and Froome to compete in Tour of Britain
Bookies: New Jersey takes in $40.6 million in sports bets in July
