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August 4th, 2021

OLIVER CHARLES - The New Yak Times - Business And Financial News Using Memes

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It's August 4th, 2021.

Dear readers,

Happy first Wednesday of August. Thank you to all those that gave us feedback last week. You might notice some of it implemented in this issue. To those of you that found the Easter egg in the previous issue, your hats are on the way.

The Olympics are in full swing and I can't get enough. In fact, I think business leaders could learn a lot from the Olympics. More on the lessons from the Olympics in my update. 

Let's get into it!

This week's top stories include:

  • Olympic update
  • The Black Widow sues
  • The eviction moratorium expires
  • The infrastructure bill
  • Oliver Charles update

Olympic Update

OLIVER CHARLES - The New Yak Times - Business And Financial News Using Memes
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Talking Points:

  • The Olympics is dominating the news at the moment. Rather than giving you medal counts or more information on Simone Biles, I'll give you some facts that you may not know.
  • Olympic gold medals are made from at least 92.5% silver and must contain a minimum of 6 grams of gold. Silver and bronze medals are made of, you guessed it, silver and bronze.
  • The International Olympic Committee makes between $3B and $4B on television rights. Security firms make many hundreds of millions securing the games. Only ten countries offer athletes six figures for making the podium.
Who makes the most for getting gold >>

The Black Widow Sues Disney

OLIVER CHARLES - The New Yak Times - Business And Financial News Using Memes
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Talking Points:

  • What do AMC shareholders and Sco Jo have in common? They both hate streaming services. Going direct to streaming and skipping the theaters was brought on by Covid and will probably stick around.
  • Scarlett Johansson filed a lawsuit on Thursday that alleges Disney breached her contract by releasing the "Black Widow" in theaters and on its streaming service, Disney+, the same day.
  • It's all about money. Ms. Johansson's earnings were tied to a theatrical release which was cannibalized by the streaming release. Opening weekend, the film brought in $80 million in its North America opening in theaters and $60 million globally on Disney+.
Read more >>

The Eviction Moratorium Expires

OLIVER CHARLES - The New Yak Times - Business And Financial News Using Memes
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Talking Points:

  • A federal ban on evictions expired this week. Meaning that for the first time since the start of the pandemic, landlords can evict renters. No one is sure what will happen next. Though, protests lead by Congresswoman Cori Bush have pushed the White House to announce plans for a new federal eviction moratorium that would cover 90% of renters.
  • In January, Americans collectively owed $70B in back rent. There were 11.5 million renters who were on average three months behind on rent. Since the economy has opened back up, the amount of back rent owed has dropped to $20B, with 6.5M households behind on payments.
  • Of $46.5B in rental relief previously approved by Congress, "only $3B has been distributed to renters."
Learn More About the Rental Crisis >>

The Infrastructure Bill

OLIVER CHARLES - The New Yak Times - Business And Financial News Using Memes
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Talking Points:

  • The long-awaited bipartisan infrastructure bill is seemingly going to make it through Congress. The bill provides much-needed funding for crumbling roads, spotty internet, and 100-year-old water pipes. It, however, does not provide ANY funding for sweaters.
  • The $550B in new spending includes $110B for roads and bridges, $73B to modernize the nation's energy grid, $66B for rail and Amtrak, $65B for broadband expansion, $55B to improve the country's drinking water, and $39B for transit.
  • This is the largest investment in climate resilience in American history. A meager amount of the budget will go towards preparing for the effects of climate change.
The real winners of the bill >>

Failure in The Final Moment

OLIVER CHARLES - The New Yak Times - Business And Financial News Using Memes
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Oliver Charles update

I watched the men's 400M qualifying rounds last night, and right as the starting gun went off, something happened: all the athletes were called back to the starting line.

The reason? Kenya's Emmanuel Korir jumped the gun by less than a second. He was then disqualified from the entire event. Can you imagine training your whole life for this moment just to get disqualified for the tiniest of slip-ups?

I felt a deep connection to this athlete. I'm no stranger to working on something for years to see it collapse in the final hours (see my Linkedin profile).

Although Mr. Korir seemed upset, he wasn't devastated. So I looked him up, and it turns out he is competing in two other events.

Long story short, diversification is important. That's why we have another newsletter you can subscribe to (aka our blog), cause who knows how long it'll take for the big wigs at the New York Times to sue us.

Until next time, keep building 💪.

Best, Tobias
CMO @ Oliver Charles
Connect with me on Linkedin

--

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