8.10.2022

Serena Williams, South Korea, and the Year's Best Sports Photos Everything you need to know for the day in five minutes.

Good morning. It's Wednesday, Aug. 10, and we're covering a surprise announcement from a tennis icon, devastating floods in South Korea, and much more. Have feedback? Let us know at [email protected].

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NEED TO KNOW

 

Serena Williams Retires

Tennis star Serena Williams announced she will depart from the sport yesterday, hinting the US Open will be her final tournament and saying she wants to focus on family and spiritual goals.

 

Widely considered one of the greatest tennis players of all time, the 40-year-old athlete is a 23-time Grand Slam champion, having first won the US Open in 1999. She also walks away with the female record of 365 Grand Slam match wins, as well as 73 singles titles (855-153 record) and 23 doubles titles (192-34 record). In addition, her total prize earnings of more than $94M are twice as much as any other female athlete. Her final US Open (beginning Aug. 29) will give her a chance to tie the record of 24 Grand Slam titles set by Margaret Court. See career stats here.

 

Her early life was documented in the movie “King Richard,” which follows her father’s journey coaching his daughters in Compton, California.

 

Williams delivered the news via an essay for Vogue, saying she is evolving from the sport and resisting the word “retirement.”

Historic Rains in South Korea

At least nine people died and six were missing in South Korean floods yesterday, the heaviest rains to fall in the country since records were first kept in 1942. Rain is expected to continue through Thursday.

 

Subway stations around Seoul, where half of the nation's 52 million people live, filled with water as cars became submerged on roadways and hundreds were evacuated. Almost 18 inches of rain poured in parts of the country, surpassing the average monthly rainfall of 13 inches in just one day. At one point, more than 5 inches of rain fell per hour, leading to nearly 50 landslide warnings and closing off hundreds of hiking paths. 

 

Rain also fell north of the border in North Korea, where officials broke a 2009 agreement by opening a dam's floodgates without warning South Korea. Waters at one bridge near the border rose to 17 feet, almost four times the typical water depth. 

 

See photos of the floods here

Micron's $40B Chip Investment

Micron Technology, a Boise, Idaho-based chipmaker, yesterday announced plans to invest $40B in memory chip manufacturing in the US through 2030—the largest investment in memory manufacturing in history. Micron expects to grow the US market share of global chip production from less than 2% to up to 10% through the creation of 40,000 jobs and with production slated to begin in the second half of the decade. 

 

The announcement follows a similar move from Intel, which earlier this year revealed plans to invest up to $100B to build a chip manufacturing facility in Ohio. Qualcomm and GlobalFoundries also announced a new partnership, which includes a $4.2B investment in manufacturing chips. 

 

The companies have said they plan to leverage funds from the CHIPS-plus act, a $280B research and development package that includes more than $50B to support US semiconductor manufacturing. President Joe Biden signed the package into law yesterday. 

In partnership with Bobacino

BOBA BOOM

 

Did you know that 94% of consumers in their 20s purchased boba (bubble tea) in the last three months?  That demand is creating a potential 128% growth market by 2028. But few boba operations can scale to meet it without Bobacino

 

Bobacino’s fully automated boba bar will help businesses meet this growing demand for bubble tea. At just 16 square feet, these stands can be stationed nearly anywhere—college campuses, airports, malls, you name it. They offer 35% lower operating costs than traditional boba shops, resulting in up to 6X higher profit margins.

 

Learn more about Bobacino’s bubble tea bots and get in on their investment offering ahead of the boba boom. The final day to invest is Aug. 12.

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IN THE KNOW

 

Sports, Entertainment, & Culture

> Issey Miyake, pioneering Japanese fashion designer, dies at 84 of liver cancer (More) | Lamont Dozier, Rock & Roll Hall of Fame songwriter, dies at 81 (More)

 

> NFL owners approve sale of Denver Broncos to ownership group led by Walmart heir Rob Walton for $4.65B, a record sale for an American sports franchise (More)

 

> "SNL" star Kenan Thompson tapped to host 2022 Emmy Awards (Sep. 12, NBC) (More) | "The Wonder Years" executive producer Fred Savage accused of harassment by several female crew members (More)

Science & Technology

> Bioengineers demonstrate artificial neuron capable of transmitting and receiving dopamine; may have applications in chemical-mediated brain-computer interfaces (More)

 

> Researchers combine AI platform and quantum mechanics to provide the most detailed simulation of how ice freezes at the molecular level ever produced; calculations were once thought to be impossible due to required computing power (More)

 

> Study suggests spiders may experience a state similar to REM sleep; research provides insight into the parallels to human sleep experienced by non-vertebrates (More)

Business & Markets

In partnership with The Ascent

> US stock markets fall (S&P 500 -0.4%, Dow -0.2%, Nasdaq -1.2%) ahead of today’s July consumer price index report (More) | Online gaming giant Roblox misses expectations; shares down 14% (More)

 

> US housing inventory increased in July for third month in a row; up 31% over last year (More)

 

> Ferrari recalls nearly every car (approximately 23,000) sold since 2005 due to faulty brakes (More)

From our partners: Earn a $200 sign-up bonus, simply for spending $500 in your first three months with this card. Pair that with 0% intro APR on purchases and balance transfers for your first 15 months and unlimited cash back. For no annual fee, check out this card.

Politics & World Affairs

> Explosions hit a Russian air base in the Crimean peninsula, killing at least one person and injuring at least five; Russia invaded and annexed Crimea in 2014 (More) | See more updates on the war (More)

 

> Four states—Wisconsin, Minnesota, Connecticut, and Vermont—hold primary races ahead of November elections (More) | Federal appeals court upholds House committee request for former President Donald Trump's tax returns; Treasury department previously declined to provide records during Trump's administration (More)

 

> Kenyans cast ballots for the East African country's next president, facing a choice between Raila Odinga, a political veteran who is making his fifth bid for presidency, and Vice President William Ruto; results are expected later this week (More)

BOBA BUSINESS

 

In partnership with Bobacino

 

The global $1.9B boba (bubble tea) market is expected to grow 128% by 2028, in large part thanks to growing popularity among young people.

 

And one startup is on a mission to help meet the surging demand for boba. Bobacino makes cost-cutting robotic kiosks that can set up shop virtually anywhere, at just 16 square feet. These boba bots boast 6X higher profit margins than traditional boba shops thanks to lower costs from real estate and labor. Learn more about this innovative boba business and invest before the opportunity closes Aug. 12.

Please support our sponsors!

ETCETERA

 

Mapping the global spread of monkeypox

 

The year's best sports photos (so far).

 

... and salty pups catch waves at the World Dog Surfing Championships.

 

Visualizing the history of media.

 

Surreal time-lapse traces of birds in flight.

 

Australia's mysterious Somerton man identified.

 

French rescuers rush to save a stranded Beluga whale.

 

Self-described rocketman makes jet engine go kart.

 

Clickbait: Spanish authorities nab brazen ham burglar

 

Historybook: The Louvre opens in Paris (1793); Smithsonian Institution established (1846); Former President Herbert Hoover born (1874); Kylie Jenner born (1997); Jeffrey Epstein found dead in jail while awaiting trial on sex trafficking charges (2019).

 

"Keep good company—that is, go to the Louvre."

- Artist Paul Cézanne

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