Good morning. Quick heads up that Spotify Wrapped day is around the corner, so start making that big Mozart push if you want to appear classy. —Jamie Wilde, Max Knoblauch, Neal Freyman | | | |  | Nasdaq | 15,982.36 | | | | | S&P | 4,701.70 | | | | | Dow | 36,432.22 | | | | | 10-Year | 1.492% | | | | | Bitcoin | $67,459.53 | | | | | AMD | $150.16 | | | | *Stock data as of market close, cryptocurrency data as of 7:00pm ET. Here's what these numbers mean. | - Markets: Investors celebrated the House's passage of the infrastructure bill by sending the S&P to yet another record high. The S&P's streak of eight straight records is its longest since 1997. Over on the Nasdaq, chipmaker AMD was the No. 1 gainer after announcing it locked in Meta as a customer.
- Crypto: Bitcoin and ethereum notched all-time highs as the total market cap for cryptocurrencies hit $3 trillion.
| | | Alex Bierens de Haan/Getty Images More than a dozen lawsuits were filed against event organizer Live Nation Entertainment and rapper Travis Scott yesterday, following a music festival that ended in tragedy on Sunday. Eight people between the ages of 14 and 27 died, and over 300 were treated for injuries, 13 of whom were still hospitalized as of yesterday. What exactly happened is still being investigated by authorities, but fans report that a stampede crushed concertgoers toward the stage during Travis Scott's performance. Scrutiny of Live Nation has focused on two areas so far: - The setup. Travis Scott was the only artist playing during his time slot, meaning about 50,000 festivalgoers converged toward one stage. No barricades or barriers were used to separate the crowd into sections.
- Security. Because of a shortage of workers, experts told the WSJ, security personnel weren't adequately trained to handle the crowd...which was so raucous that Houston Police Chief Troy Finner reportedly "conveyed concerns about the energy in the crowd" to Travis Scott before his show.
Live Nation has responded by offering to refund all attendees' tickets and opening a fund to pay for victims' medical fees, not long after Travis Scott announced that he'd cover therapy and funeral costs. This is not Live Nation's first tragedy The concert promoter—which is the world's largest, owns Ticketmaster, and puts on major events like Bonnaroo and Lollapalooza—has been connected to about 200 deaths and 750+ injuries since 2006, according to the Houston Chronicle. It's also been cited for numerous safety violations by the Occupational Safety and Health Administration (OSHA), which regulates workplace safety in the US. Other events produced by Live Nation include: - The Las Vegas Route 91 Harvest festival where 58 people died in a mass shooting in 2017.
- Ariana Grande's Manchester, England, concert during which a suicide bomber killed 22.
- The first Astroworld festival in 2019, which was held at the same venue as this year's. Three people were injured in a stampede.
Looking ahead...it could take weeks for medical examiners to release the results of their investigation. As for Travis Scott, he canceled his show this weekend at the Day N Vegas festival, where he once again would have been the only headliner playing during his time slot.—JW | | The US reopened its borders to vaccinated international travelers from more than 30 countries yesterday. Here are some snapshots from the emotional day.  British Airways British Airways and Virgin Atlantic staged the first-ever commercial parallel takeoff on their way from London to New York.  GUILLERMO ARIAS/AFP via Getty Images Cars line up to cross the Mexico-US border.  Scott Olson/Getty Images Yerin Hong hugs her boyfriend Soomin Kim after arriving in Chicago from Germany.  OLIVIER DOULIERY/AFP via Getty Images Can't get enough of the hugging. Anyone have a tissue? | | | Francis Scialabba Alphabet, the parent company of Google, surpassed $2 trillion in market capitalization on Monday. Just in case someone wants to get a card going around that we can all sign. This makes Alphabet the third US company to be inducted into the two-followed-by-12-zeros club, joining Apple and Microsoft. Its value doubled during the pandemic, when much of life migrated online. And while the pandemic was kind to many tech giants, it loved Alphabet the most: - Its stock surge of 70% this year is No. 1 among the five biggest US tech stocks by revenue.
- YouTube brought in $7.2 billion in ad revenue in the third quarter, up 43% from the previous year and more than Snapchat, Twitter, Pinterest, and LinkedIn combined.
Some of us are old enough to remember when Alphabet (then still Google) was just a little guy, worth $23 billion when the company went public in 2004. 17 years later, analysts think Alphabet is poised to grow even more as digital ad sales boom and it expands its cloud unit. Just how much is two trillion? A lot. Google it.—MK | | TOGETHER WITH CAPITAL ONE | | Ah, travel. Vacations give us opportunities to get away, recharge, explore—and order breakfast in bed like Louis the Fourteenth. If you want both comfort and flexibility in your next journey, you want Capital One's new class of travel card, Venture X, which just launched today! This card offers 2X miles on every purchase, up to $300 every year for bookings through Capital One Travel, unlimited access to Capital One Lounges and 1,300+ Priority Pass lounges worldwide—and more. When you're planning your next getaway, you'll get 10X miles on hotels and rental cars and 5X miles on flights when you book through Capital One Travel. Capital One's Venture X card even gives you 10,000 bonus miles on every anniversary. If you apply now, you can earn 100,000 extra miles (that's $1,000 toward travel) after you spend $10,000 in the first six months. Learn more about Capital One's Venture X card here. | | Stat: Packers QB Aaron Rodgers, who recently made controversial comments about Covid vaccines, all but disappeared from State Farm ads last weekend. About 1.5% of the ~400 State Farm ads aired on TV during Sunday's NFL games featured Rodgers, compared to more than 20% on the previous two Sundays, according to Apex Marketing Group. State Farm announced Monday that it stood by Rodgers. Quote: "A new university dedicated to the pursuit of truth." Former NYT columnist Bari Weiss and several other public thinkers are launching the University of Austin, a new institution aimed to challenge what they consider a "broken" higher education system. The board of advisors include former Treasury Secretary Larry Summers, former ACLU President Nadine Strossen, and historian Niall Ferguson. Read: How the maestro got his hands back. (GQ) | | | Giphy Four astronauts aboard the SpaceX Crew Dragon Endeavour safely splashed down near Florida last night, after spending nearly 200 days in space on the International Space Station (ISS). Known as Crew-2, this was the second of six NASA-SpaceX joint missions. First stop? Begging a Starbucks employee for the restroom code. Due to an issue with the onboard waste management system, the astronauts spent more than eight hours without a toilet on their return journey. So, basically a day in NYC with less honking and more G-force. - Similar toilet-on-the-fritz issues happened with a SpaceX all-civilian flight in September and Crew-2's capsule back in April. Astronauts are all about finding creative solutions to complex problems, but for the commode breakdown, they're going old school: diapers.
It wasn't all toilet stuff though: While aboard the ISS, Crew-2 upgraded the station's power grid by performing a series of spacewalks to install solar panels. They also grew the first green chili peppers in space and hosted the first-ever movie crew in space (for the Russian film, The Challenge). Crew-3 is scheduled to be sent into orbit on November 10, docking with the ISS on the evening of the 11th.—MK | | - Ford stock closed above $20 for the first time in 20 years.
- Randal Quarles, the Fed's vice chair for bank supervision, will step down near the end of the year, giving President Biden another open position to fill on the central bank's board.
- Robinhood said the personal info of more than 7 million accounts was accessed during a data breach, but numbers affiliated with Social Security, bank accounts, and debit cards weren't exposed.
- Roblox shares popped nearly 30% after hours thanks to a delicious earings report. The gaming platform managed to maintain its popularity even as the world reopened (cough, Peloton).
- 13 Marvel movies will be able to be streamed on Disney+ in a format called "Imax Enhanced," which shows 26% more of the film on screens.
| | | | Peepsies these holiday feetsies. This holiday season, make sure your feet are dressed to the holly jolly nines with the Bombas Holiday Collection. They're just as fun and festive as they are soft and comfy. Plus, for every Bombas item you purchase, they'll donate an item to those experiencing homelessness. Check out the collection today. | | Brew Mini: All you need to know about today's Mini puzzle is that its title is Meme Coin. Play it here. This Day in History On this day in 1906, Theodore Roosevelt became the first sitting president to travel abroad while in office, and he visited a specific country for a specific reason. Which country was it? | | | Panama to inspect the construction of the Panama Canal | | HOW WAS TODAY'S NEWSLETTER? | | | Written by Neal Freyman, Max Knoblauch, and Jamie Wilde Was this email forwarded to you? Sign up here. WANT MORE BREW? Industry news, with a sense of humor → - Emerging Tech Brew: AI, crypto, space, autonomous vehicles, and more
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