The front page of the internet gets a makeover
MARKETS
- U.S. markets: Stocks fell early in the day as tensions continue to build between the U.S. and China, but they rallied late.
- International: European and Asian stocks finished mixed. Everyone is watching if this trade war escalates.
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ECONOMY
How To Discuss the U.S.-China Trade War Around the Office
It's all fun and games until two economic powers slap each other with steep tariffs. The U.S. slapped first, proposing a 25% tax on $50 billion worth of Chinese imports. China quickly responded, saying ‘if you tax $50 billion, we'll do the same.'
So how might you respond when your friend asks, “What’s the deal with the U.S. and China?”
"It's a potential trade war." The Trump administration isn't pleased with a $375 billion trade deficit with China. On top of that, there's concern China is stealing up to $300 billion in IP from U.S. companies each year.
So how exactly is China stealing?
"Through joint ventures and lots of red tape." U.S. companies are scrambling for easier access to China's massive market. But in order to get in they have to partner with Chinese companies, potentially letting them in on some trade secrets. U.S. firms are also required to store some data in China—data that the Chinese government has access to.
So how will tariffs help?
"It's a negotiation tactic, really." The tariffs are targeted at industries in China's "Made in China 2025" plan, which plots a course for world domination in areas like IT, aerospace, and robotics. Threatening that plan with tariffs could convince China to open its doors to U.S. companies.
Right, but you said China just struck back?
"Yeah, they know a thing or two about negotiation as well." While the U.S. hit goods across 1,300 categories, China took aim at 106 products, like soybeans and commercial jets. Those two are key, since China's the largest importer of U.S. soybeans in the world, and Boeing relies on selling planes to China.
So what should we expect from here?
"Both parties should come to the table." Right now, China seems open to talking, but the U.S. doesn't seem to be backing down. And while things shakeout, the market jitters could continue.
TECH
The YouTube Shooting: What We Know
We're learning more about Nasim Najafi Aghdam, the shooter who seriously injured three people and then killed herself Tuesday afternoon at YouTube HQ.
Aghdam wasn't a fan of YouTube: Although she was a frequent poster (mostly about veganism, animals rights, exercise), Aghdam complained that the platform wasn't allowing her to profit from her videos.
She wrote on her website: "YouTube filtered my channels to keep them from getting views!" and "There is no equal growth opportunity on YouTube."
Zoom out: Gun control advocates were quick to tie in this incident with the greater national debate amplified by Parkland. And given YouTube's place in the heart of Silicon Valley, major voices from the tech world joined the conversation—voices like Jeff Bezos and Sundar Pichai, who offered messages of support.
Others, like Twitter CEO Jack Dorsey and Uber's Dara Khosrowshahi, took a more activist tone in their calls to end gun violence.
FOOD
Impossible Foods Takes Its Plant-based Burger Show on the Road
Impossible Foods and its futuristic, plant-based burgers raised a well-done $114 million convertible note from East Asian investors. That boosts its total fundraise to almost $400 million.
Which, yes, is a lot of capital for what's essentially a veggie burger company...but this isn't your standard black bean cauliflower patty.
The chefs chemists at Impossible Foods spent years in the lab perfecting a burger that looks and tastes identical to beef. And the Brew's food critic Barbara Kew tells us it's pretty darn close to the real thing.
So you've got a fat wad of cash. What's next? With growing global demand for meat substitutes, Impossible Foods is in the right industry at the right time. The plan is to dive into Asia and keep expanding in the U.S., where you can find the burger at upscale NYC locations and fast-casual joints like Umami Burger and B Spot.
TECH
Google Employees List Their Demands
Despite that tough-as-nails, warmongering exterior Google (+1.08%) employees give off, some prefer to keep their names—and Google's—far from the battlefield. That became clear when over 3,000 employees signed a letter to CEO Sundar Pichai that said:
"Dear Sundar, we believe that Google should not be in the business of war. Therefore we ask that Project Maven be cancelled."
Project Maven? Google's initiative with the Pentagon to use the company's AI tech for more precise video reconnaissance. The idea being, with more accurate imagery identification, the Pentagon could improve its calculated operations (i.e. drone strikes).
Remember, Google's motto is "Don't be evil." But some feel empowering the military to inflict harm might not jive with that. These types of projects could also lead to a brain drain of top tech talent.
Mic drop: "We cannot outsource the moral responsibility of our technologies to third parties."
WHAT ELSE IS BREWING
- Facebook (-0.65%) is now saying most of its 2 billion users' info was vulnerable to bad actors.
- Mark Zuckerberg will talk about all that and more when he testifies on Capitol Hill next Wednesday morning, April 11.
- Smucker (+1.63%) is buying Ainsworth Pet Nutrition for $1.7 billion.
- The opening round of the Masters starts today. Here's how Tiger's return is changing golf.
- Ars Technica reviews the HTC Vive Pro, a $799 VR headset (without accessories).
WATER COOLER
BIGGER PICTURE
They say a picture is worth a thousand words….which is great, because we definitely don’t have room for a thousand words.
Today we learned: What the new Reddit will look like.
The forum for posting all your shower thoughts and photoshop battles is one of the top 10 most visited sites on the web. But most would agree a makeover is long overdue—the interface looks like a hungover developer threw it together during a lunch break...in 1995.
No doubt some users find the current design charming. Others, like Reddit's CEO Steve Huffman, wanted to make a change. Here's a post of his from last December:
"Many of us evangelize Reddit and tell people how awesome it is, what an impact it's made in their life...and then when those new people decide to check out Reddit for the first time they're greeted with dystopian Craigslist. We'd like to fix that."
Shower thought: What does a non-dystopian Craigslist look like? Either way, check out a pic for yourself. It can't be worse than the new Snapchat.
THE BREAKROOM
SIP ON THIS
The U.S. legal cannabis market is expected to hit $75 billion by 2030 (h/t Cowen & Co). That's about the size of the current carbonated soft drink market.
BUSINESS TRIVIA
Which of these stories about a famous company pivoting is false?
- When Nintendo first started, it sold everything from playing cards to vacuum cleaners.
- The first Starbucks was a bike shop.
- Ben & Jerry’s was originally supposed to be a bagel company.
(Answer located at bottom of newsletter)
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Breakroom Answers
Business Trivia
The first Starbucks was NOT a bike shop
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