You News You Lose

MARKETS

• U.S. markets: Stocks rebounded after Monday's tech sell-off. All eyes will be on the Fed today, which is expected to announce interest rate hikes.
• Crypto: Bitcoin jumped back to around $8,800 after the G20—a group of the world's economic leaders—determined cryptocurrencies to be more like assets than actual currencies. Basically, there won't be a global crackdown on crypto (for now).

MEDIA

Google Fights Fake News with Real News

Inspired by Morning Brew's reporting, Google (-0.39%) is investing $300 million over the next three years into its new Google News Initiative (GNI)—a worldwide project combating the rise of fake news.

That includes:

* Extinguishing fires (i.e. fake news leaks) during breaking news events
* Helping authentic news sites grow with older tools like Google Analytics and newer tools like Subscribe with Google

Have you not heard of Subscribe?

It's Google's other major new initiative, aimed at boosting subscriptions for traditional news outlets.

How it works: Similar to Amazon's one-click payment tool, you only have to sign up and add your payment info with Subscribe a single time. Then, just tap to add any of Google's list of 17 global publishers (like the NYT and the Washington Post). Google will bring the most important articles to you from your most trusted sources.

And it's a big deal—traditional news outlets have been besieged by Google and Facebook, forcing them to lose out on digital ad revenue.

This announcement could mean a major turning point for publishers and Google

Refresher: Google recently linked out to thread on 4chan that named the wrong shooter in the Las Vegas massacre (on the first page of search results...). Then, a fake video about a Parkland survivor floated to the top of YouTube's trending section.

To make sure it keeps fake news from sprouting up:

* Google is also launching the Disinfo Lab to fight fake news during elections.
* It's partnering with Stanford University (among others) to introduce MediaWise—a program to help younger news readers separate fact from fiction.

Talking points: It’s clear Google is fighting to regain trust as a reliable news aggregator. And in the process, it might give traditional publishers a new lease on life.

TECH

Facebook Suffers Through Another Miserable Day

Don't be surprised if you head to a bar around 2 pm today to find Mark Zuckerberg on his fifth pint. On Tuesday, the hits kept coming for Facebook in the aftermath of its massive data privacy scandal, when 50 million profiles were used for political purposes by data firm Cambridge Analytica.

The latest developments:

* The FTC (the U.S.' main consumer protection agency) is investigating the company for violating a 2011 settlement in which Facebook agreed to only share users' information with their explicit consent. This could result in millions of dollars in fines.
* Cambridge Analytica suspended its CEO Alexander Nix after he was caught on camera boasting about entrapping politicians with bribes and sex workers.
* Facebook held an emergency open meeting to answer employees' questions.
* UK lawmakers called on Zuckerberg to "give an accurate account of this catastrophic failure of process."
* Its stock fell another 2.6%

TRANSPORTATION

After Fatality, Uber's Self-Driving Program Falls Back to Earth

Facebook isn't the only major company in disaster recovery mode this week. After its self-driving car struck and killed a woman in Arizona, Uber's hyped up autonomous vehicle program is in limbo.

The promise of self-driving cars is a pillar of Uber's business plan. Remember, the company lost $4.5 billion last year, while pouring money into self-driving tech. The hope is to eventually replace 2.5 million (expensive) drivers with software that doesn't sleep or demand higher wages.

But the fatality in AZ could slow that timeline significantly. Not only did Uber pause self-driving testing in four cities, but also lawmakers will definitely be more cautious about giving autonomous cars the green light.

Same goes for the rest of the industry. Toyota said it would halt its autonomous vehicle tests, although GM is pushing forward with a 2019 release.

Video review: The Tempe, AZ police chief says there's no preliminary evidence Uber's car was at fault in the accident.

INTERNATIONAL

On Tour with the Saudi Crown Prince

What did you do for spring break? Saudi Crown Prince Mohammed bin Salman (nicknamed MBS) is spending his on a high-profile, three-week tour of the U.S.

Yesterday, the heir to the Saudi throne met with President Trump, a close ally. They talked Iran, the war in Yemen, and business partnerships.

In the next few weeks, MBS will head outside of D.C. to sit down with business moguls like Jeff Bezos, Bill Gates, Tim Cook, and Alex Lieberman as he tries to court investment for Vision 2030—a bold agenda of social reform and economic diversification.

And while we've got you thinking about Saudi Arabia...

Prince Alwaleed bin Talal gave his first interview to Bloomberg after being released from "detention" in the Ritz Carlton hotel for 83 days. Remember, he was rounded up as part of a corruption purge (or a power grab) by his cousin, MBS.

But the billionaire investor (holding stakes in Citigroup and Twitter) isn't interested in creating family drama. Alwaleed said those months felt less like detention and more like...staying at the Ritz Carlton.

WHAT ELSE IS BREWING

• United Airlines (+0.51%) is suspending its live-animal shipping service after the high-profile death of a dog and other mistakes.
• The Weinstein Co. has filed for Chapter 11 bankruptcy.
• Salesforce (-2.17% after hours) has agreed to acquire software firm MuleSoft (+27.16%) for $6.5 billion.
• Nordstrom (-2.27%) has ended talks with the founding family about a buyout.
• Ex-NFL players like Troy Polamalu and Hines Ward are helping to launch the Alliance of American Football league in February 2019.
• But of course, Amazon (+2.69%) might be buying some of Toys ‘R' Us' locations.
• HelloFresh said "Hello" to Green Chef, acquiring the organic meal kit company.
• Reporting earnings today: General Mills.

WATER COOLER

FROM THE CREW

From our office, to your inbox. We’ll keep you in-the-know about all the latest happenings from our perspective.

After Cambridge Analytica used Facebook users' data to try to influence the 2016 election, it's fair to say Mark Z. has some ‘splainin' to do.

Already, the FTC has launched an investigation, and U.S. politicians are demanding answers. There's no question a discussion on regulating Facebook and other social media platforms is on everyone's mind.

We're thinking about it. The fact that Facebook struggles to monitor who or what has access to its data is...well...our Australian co-worker Gretel said it best: "It's just plain hectic mate."

* Gretel's (real) argument for regulation: "We all deserve our privacy. I don't want information about me being used as ammo for ad campaigns I don't support."
* Austin's argument against: "Facebook knows more about its own platform than the government. Putting up red tape could stymie innovation and hurt so many smaller companies that rely on Facebook's data in the process."

But we want to hear what you think. Should Facebook be regulated? And if so, what are some rules you'd like to see in place?

THE BREAKROOM

PIC OF THE DAY

Amazon passed Alphabet to become the second most valuable company in the world.

THEY SAID IT

Shark Tank host Kevin O’Leary: "I am a big believer that asset-based coins will soon replace small-cap stocks."

BRAIN TEASER

Question: 3 lines can divide a circle into a maximum of 7 regions. What is the greatest number of regions that 100 lines can divide a circle into?

Hint: try to notice a pattern.

If there are 4 lines, there can be at most 11 regions. If there are 5 lines, there can be at most 16 regions. If there are 6 lines, there can be at most 22 regions.

(Answer located at bottom of newsletter)

Breakroom Answers

Brain Teaser
5051 (Notice that 100+99+98...+3+2+1=5050, one less from 5051, and 3+2+1=6, one less from the maximum number of regions when there are 3 lines.)