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MARKETS

• Global economy: It’s been 27 years since China’s quarterly economic growth was this slow.
• Debt: The world’s debt rose by $3 trillion in the first quarter of this year. For those keeping track at home, that puts total global debt at $246.5 trillion.

FOOD

Chipotle Stock Is Extra

Yesterday, shares of your favorite "Mexican grill" climbed 1.2% to an all-time high. The record proves that if you build it, they will come, then keep coming back after your food gets a few of them sick.

Quick reminder: From 2015–2018, some Chipotle customers came down with serious foodborne illnesses. The fallout from the food safety crisis cut Chipotle’s market value by over half, and it took until this month for Chipotle’s shares to rally back to their previous high from August 2015.

So who saved the bay leaf? The award for best fast-casual burrito savior goes to CEO Brian Niccol, who came on in March 2018 after a stint as CEO of Taco Bell. Call him the Taco Tactician.

Niccol cooked up a comeback in three flavors

Mild: Marketing. Niccol worked to solve Chipotle’s image problem with social media engagement and new ad campaigns on TV, including spots in season finales and a partnership with the NBA.

Medium: Delivery. Chipotle invested heavily in the food delivery revolution, inking a deal with DoorDash last year.

• It’s paying off. An Edison Trends survey showed that from May 2018 to May 2019, Chipotle boasted the biggest increase in food sales from delivery apps among national brands. It wasn’t even close.

Hot: Rewards. Chipotle launched a loyalty program in Q1 that offered a cash giveaway of between $1 and $500 to anyone who signed up.

Apparently, a lot of people signed up

In April, Chipotle reported Q1 profit and sales that beat expectations. Same-store sales, an all-important indicator in the restaurant sector, jumped 9.9%.

Looking ahead: Rising about 76% since the beginning of 2019, Chipotle stock is among the best-performing in the S&P 500 this year. The company reports Q2 results on July 23, when we’ll see whether Chipotle’s rally has staying power.

HEALTHCARE

Biden: If the ACA Ain’t Broke, Fix It

Looks like 2020 presidential hopeful Joe Biden’s feeling nostalgic. He announced a healthcare plan yesterday that took us right back to 2010, when the Obama administration’s Affordable Care Act was signed into law.

Zoom out: Biden’s saying no to peer pressure. Some of his competitors for the Democratic nomination have endorsed “Medicare For All,” or purely government-run healthcare.

Biden did not go that route. He said his plan would keep the ACA in place, but strengthen it by...

• Adding a public option, so that those who want government care can get it (but the private insurance sector would remain).
• Allowing Medicare to negotiate with drugmakers.
• Helping people pay for premiums. Currently, only people making below 400% of the federal poverty line qualify for subsidies. Under the second-most famous person from Delaware’s plan, everyone would be eligible to get them.

Bottom line: By coming out against abolishing private insurance, Biden’s positioning himself as the defender of the healthcare status quo. But some of the changes he’s proposing would still bring significant change to healthcare

FASHION

Trends Come and Go but Sustainability Is Forever

A lot can change in fashion in a year—tiny sunglasses can give way to ’70s bifocals, square-toed shoes can become the new flatform, and ethical fashion house Stella McCartney can seamlessly jump from one French luxury giant to its rival.

LVMH, the world’s largest luxury group by revenue, has paid an undisclosed amount for a minority stake in designer Stella McCartney’s namesake brand. It joins Dior, Celine, and more in LVMH’s wide-ranging portfolio.

• Why that’s a big deal: About 16 months ago, McCartney confirmed her 17-year, 50/50 venture with LVMH rival Kering was ending as the group embarked on a portfolio restructuring.

For LVMH, McCartney brings serious sustainability cred. The lifelong vegetarian’s brand doesn’t use leather or fur, and McCartney’s focus on ethical fashion has become almost as recognizable as her father’s band.

And luxury fashion’s favorite synonym for “sustainable” is “$$$.” Lyst reported a 47% increase in searches for ethical fashion like “vegan leather” and “organic cotton” last year. And Stella McCartney’s sales climbed in 2017 even as it cut its environmental impact by 8%.

NANOMEDICINE

That's Nano Your Business

In a perfect world, humans will be able to regrow lost organs and limbs, instantly cure diseases that cause years of pain today, and move away from intrusive methods of treatment. These possibilities hinge on the power to manipulate the human body at a level even deeper than the cell.

Well, there's actually a term for that: nanomedicine.

But first, we have to define nanotechnology, which is the manipulation of atoms and molecules up to 100 nanometers in size. For scale, a hydrogen atom is 0.1 nanometers; the width of a human hair is about 100,000; the diameter of Jupiter is—not even gonna go there.

• Nanomedicine = nanotech + clinical applications, such as tissue engineering, drug delivery, diagnosis, and medical devices.

After slow and steady research progress over the last few decades, nanomedicine is getting ready for its opening night. In the next decade, a wave of applications will allow doctors to provide personalized medicine, deliver drugs more effectively, limit harmful side effects, and potentially cure some of the most deadly afflictions.

By 2025, the field is expected to be worth $350.8 billion, mainly driven by therapeutics and diagnostics.

But there are still hurdles. Researchers are facing difficulties reproducing lab results in human patients, and the technology hasn't started scaling yet.

Boil it down

The promise: Targeted, personalized healthcare that will change diagnosis, drug delivery, and the overall patient experience.

The roadblocks: Nanomedicine still has to pay its dues in clinical trials and scale up its development and manufacturing pipelines.

The projected timeline: Early applications are already on the market. In the next decade, nanomedicine will be used to treat more serious medical conditions.

The major players: Most nanomedicine work is still being conducted in labs across academia and pharma, but it will soon graduate to doctors’ offices near you.

You've been a great audience, so here's a bonus chart
Can't say we never told you the length of an ant in nanometers.

NANOMEDICINE

Kiss Those Side Effects Goodbye

For patients, nanomedicine will usher in an era of care more personal than a sponge bath.

Take cancer, for example. Nanomedicine could help with early diagnosis and the delivery of more effective, localized treatment. It’s auditioning for the roles of...

• The smoke alarm: Nanomedicine can measure nanoparticles released by cancer cells in the bloodstream to figure out if the cancer is likely to spread.
• The detective: It will test dozens (or hundreds) of cancer treatments on cultured cell samples to pinpoint the best course of treatment for an individual patient.
• The cruise missile: By injecting chemotherapy into nanoparticles that will only release their payload after reaching the cancer cells, you can spare other organs from damage.
• The Trojan horse: Drugs masked with nanoparticles can slip past biological barriers into hard-to-reach areas of the body, like the brain.

But it’s not just cancer. Nanomedicine will allow doctors to treat a variety of serious medical conditions, potentially on an expedited timeline. There’s no question it will change the healthcare industry by increasing efficiency, cutting costs, and reshaping how drugs and devices are developed.

NANOMEDICINE

Take the Leap

Sometimes the smallest things do pack the biggest punches. Check out our full write-up about how nanomedicine can transform your relationship with your doctor here.

If you’re excited and ready to learn more, check out these resources:

• The Marvel Cinematic Universe has featured nanotechnology across its films, from shrinking Ant-Man and the Wasp to building super suits featured in Iron Man, Spider-Man, and Black Panther.
• The Q&A Journal of Ethics recently examined some of the ethical issues surrounding nanomedicine, including trackable pill technology and the right way to inform patients about nano-based medicines.
• After entering a victim’s bloodstream, nanoprobes in Star Trek were used to take over host cell functions.
• A chemist and a venom expert (solid job title) are working together on hydrogel nanoparticles that could bind to and neutralize snake poison, according to the NYT.

WHAT ELSE IS BREWING

• Citigroup (-0.08%) profits rose 7% last quarter thanks to lower tax rates and higher interest rates.
• Charles Schwab (+0.42%) is in talks to buy USAA’s wealth management and brokerage units for about $2 billion, per the WSJ.
• Treasury Secretary Steven Mnuchin has “very serious concerns” Facebook’s Libra cryptocurrency could be misused by terrorists. But...
• Facebook (-0.47%) said it won’t launch Libra without addressing the concerns of the (many) regulators doubting it. The Senate Banking Committee will demand clarification in a hearing today.
• Bird CEO Travis VanderZanden said on Twitter that a report suggesting the e-scooter company lost $100 million in Q1 is false.
• Uber and Lyft ridership rates have fallen in New York City...about six months after a new local law lifted prices.

BREAKROOM

From Russia With Likes
Residents in the Siberian city of Novosibirsk (pop. 1.6 million) are obsessed with taking Instagram pics near this sparkling blue lake. But there's something not-quite-normal about the lake. What is it?

Breakroom Answers

From Russia With Likes
The artificial lake is filled with chemicals and is highly toxic. Read more about the "Siberian Maldives".