DATA POINTS
- 9.784 Seconds – U.S. Olympian Noah Lyles’ 100m race time, making him the fastest man in the world (in the fastest race in the world with all 8 runners finishing under 10 seconds)
- 80 mph – The maximum sustained wind speeds of Hurricane Debby when it landed in Florida
- 103 – The USA Olympic Medal Count
- 139 – The number of U.S. companies that made the Fortune Global 500 list
- 1,033 – The number of points The Dow Jones industrial average dropped on Monday
- $15,000 – The price a trademark lawyer sold the HarrisWalz.com domain for (to a “random guy”)
His Brand: Minnesota Nice
This week, Democrat Governor Tim Walz’s national platform surged when Vice President Kamala Harris named him her running mate. Google searches for the Minnesota Governor climbed by 1,000 percent on Aug. 6 with top searches including “tim walz age,” “tim walz religion,” and “tim walz wife.” Seventy-one percent of Americans said they had never heard of Walz at the time of the VP announcement.
As Governor, Walz has worked to expand healthcare access, invest in renewable energy, and tackle social justice concerns. His leadership has been largely applauded by the state’s democrats and criticized by the state’s Republicans. Democrats appreciate his congeniality and progressive agenda. In 2023, Walz and a Democrat-led state legislature supported initiatives that solidified the right to abortion in state law, provided driver’s licenses to undocumented immigrants, and legalized recreational marijuana.
Walz’s administration also led the state through violent riots that engulfed Minneapolis following the death of George Floyd. His management of the National Guard during the 2020 unrest is falling under fresh scrutiny as the governor vies for the #2 position in the White House.
Tim Walz and Republican VP pick J.D. Vance both care about tackling economic issues, but their approaches are quite different. Walz leans on progressive ideas, believing in government support to grow the economy. Vance champions a conservative approach, pushing for less government involvement and greater private-sector solutions.
With Walz selected and just 88 days left until the election, the stage is now set (barring any further seismic upheaval in the race – which, considering the past six weeks, might not be a safe bet…).
Telling the Story of Storytelling
Telling the Story of StorytellingFrom high schoolers watching horror films to families flocking to see Pixar’s biggest hits, going to the movies is a universal tradition. Although this tradition may be timeless, a trip to the theater continues to evolve with its audience. Younger audiences have foregone movie theater attendance since the pandemic, and those who watch movies in theaters expect box office hits every time. As new streaming services continue to grow, it has become easier than ever to watch movies from the comfort of your home.
Will sequels be the saving grace for movie theaters? Film production companies seem to think so. Recent hits have mainly been sequels, like Dune: Part 2 and Twisters. Theaters also hope to attract fans with unorthodox methods, such as movie-specific popcorn buckets and restaurants in theaters. Some theaters are doing 73-minute showings of cat videos, while others are re-releasing older movies. Despite new tactics, box office sales are still lagging. 2024 will likely fall behind pre-pandemic levels, with less wide-release films as well. Theaters must continue to innovate to keep up with new generations of movie-goers. One thing that is unlikely to change? Overpriced snacks. But doesn’t movie theater popcorn just taste better somehow?
Read More at Wall Street Journal
What’s Anticompetition? Google it.
Google, one of the premier Tech Titans, just lost a battle in its ongoing war against accusations of its illegal monopoly. A federal judge ruled that the company broke the law by hindering competition on its own flagship product: Google Search. U.S. District Judge Amit Mehta found that Google has been squashing competition and stifling innovation. It’s a fight that has been ongoing for years, and its solution will take even longer to implement. While the judge’s decision is made, its impacts are unclear. Google reaffirms that its practices are not anticompetitive and that their product is simply superior to any other alternative. What comes next lies in the hands of Judge Mehta and the Justice Department.
The decision could bring about an age of ad-free web surfing or the cost of advertising online could sink. There could be a new wave of thousands of search engines competing for attention, but with a plethora of other engines already on the market, Google Search has proven to be the iceberg to many Titanics. Apple could finally create its own search engine rather than paying Google $20 billion a year to run Google through the Safari app. It could also change how much metadata is tied to individual users and sold to advertising agencies. One less likely scenario would be for the federal government to split Google into multiple companies for each branch of its operations. For example, the Chrome browser would function as its own company separate from Google Search.
This case, among others Google faces, could change the status quo of the internet depending on which path regulators choose to pursue. Don’t expect big changes any time soon, though. Google will almost certainly appeal these decisions, which could tack on another five years before anything meaningful comes from the case.
The News on the News
The News on the NewsAfter trying times for the media, higher engagement is on the horizon. Media companies typically expect a boost in engagement during election years, but this year is different. With news companies struggling, they are forced to cut jobs and restructure their companies. The media industry experienced an increase of 14.6% in job cuts in the first half of 2024. However, reading (and watching) the news might be making a comeback in a chaotic election year.
Starting with Trump and Biden’s debate, people who would not usually tune into the news seemed glued to their laptops and TVs. With cable channels streaming the debates, even cable news is making a comeback, bringing numbers to the level they were at in early 2023. The veepstakes are driving up ratings, too. Who’s going to call someone “weird” next?
Although numbers are still down post-pandemic, engagement with traditional media is starting to make its return to normalcy.
Is the DNC the Place to Be?
Is the DNC the Place to Be?The Democratic National Convention (DNC) next week in Chicago is shaping out to be an exciting event with an expected 50,000 people attending. With Vice President Kamala Harris and Minnesota Governor Tim Walz taking center stage, you can expect a lot of talk about unity and progressive policies including healthcare, climate change, and social justice, aiming to energize supporters and showcase the party’s vision for the future. They’re also hoping to downplay divisions and controversies around hot button issues like Gaza.
The City of Chicago has long been preparing for the event with street and walkway upgrades. Local businesses are getting ready for an uptick in foot traffic, too. One local entrepreneur added coconut-themed drinks to his coffee shop and bar, playing to the trending Kamala line: “You think you just fell out of a coconut tree?”
Will the Democrats succeed in casting a compelling vision for the future and position Vice President Harris as the leader American needs? By this time next week, we’ll know. And in 88 days, we’ll see if America agrees.
Read More at Chicago Sun Times
See you next week!
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