10.24.2024

 

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Good morning. It's Thursday, Oct. 24, and we're covering Boeing's labor strike vote, a key testimony in France's #MeToo trial, and much more. First time reading? Join over 4 million intellectually curious readers. Sign up here.

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Need To Know
 

Boeing Stalemate Continues

Boeing's 33,000 production workers voted to continue their weekslong strike yesterday, rejecting a 35% pay raise over four years and $7K bonuses, among other benefits. 

 

The vote came as Boeing reported a $6B third quarter loss, raising its full-year losses to $8B amid quality concerns over its 737 Max aircraft. CEO Kelly Ortberg told investors in his first public call yesterday he plans to prioritize a culture shift to reboot the company's image. The statement came after Boeing announced layoffs and other efforts to downsize this month as its credit rating approaches junk status. Boeing's stock fell 3% in midday trading.

 

Boeing is the single largest exporter in the US by dollar value, generating close to $80B in revenue each year. Still, the company has failed to turn a profit since 2018. See an overview of its recent crises here (w/video).

 

Turkey Terror Attack

Attackers killed five people and wounded at least 22 others at an aerospace company's headquarters in Turkey yesterday. The government has labeled the incident a terrorist attack. Two attackers—one man and one woman—have been killed; the government says it is working to identify them. 

 

According to local reports, the attack began when someone detonated a bomb outside the entrance of Turkish Aerospace Industries, a state-run defense company manufacturing military and civilian aircraft and drones. At least one other armed militant fired at security guards and entered the facility, with local officials describing a hostage situation at the company's cafeteria. See footage of the beginning of the attack here (warning—sensitive content).

 

The attack comes as Turkey's government has been negotiating an end to its decadeslong conflict with Kurdish separatists. While the country's defense minister blamed Kurdish militants for the attack, investigators have not publicly identified an affiliation or motive as of this writing.

 

Mass Rape Trial

Gisèle Pelicot, the 71-year-old French victim of mass rape, testified yesterday against her former husband, Dominique, who admitted to sexually assaulting and facilitating dozens of men to assault her for over a decade. Gisèle opted for a public trial—which has garnered international attention—in a case where victims typically choose anonymity to shed light on the issue of sexual consent in France. 

 

Fifty men between the ages of 26 and 74 are accused of raping Gisèle between 2011 and 2020 in incidents her husband coordinated online. Dominique, who was married to Gisèle for 50 years, admitted to placing drugs in her food to facilitate the assaults. Over 20,000 labeled images and videos discovered on his devices showed the incidents. The defendants each face up to 20 years in prison.

 

Over a dozen marches in support of Gisèle have taken place in France during the weekslong trial, part of a global reaction to the case observers have likened to the US #MeToo movement. See protest footage here.

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In The Know
 

Sports, Entertainment, & Culture

Los Angeles Dodgers star Shohei Ohtani's 50th home run ball sells for $4.4M at auction, a record price for a sports ball of any kind (More) | Fernando Valenzuela, Dodgers pitching legend, dies at age 63 (More)

> Actresses Julianne Moore and Rosario Dawson, Radiohead's Thom Yorke, and author James Patterson among at least 15,000 creatives signing on to statement warning against unauthorized use of their work to train generative AI (More

> Director Roman Polanski won't face trial for alleged rape of a minor in 1973 after settling out of court (More) | Harvey Weinstein's retrial on an overturned 2020 rape conviction to be pushed back to 2025 (More)

 

Science & Technology

> Google's DeepMind deploys invisible watermark for AI-generated text; approach alters words used in a formulaic but indistinguishable way that can be decoded with a key (More) | How generative AI works (More, w/video)

> Researchers discover how ovarian cancer shuts down immune cells, promoting tumor growth; cancer cells effectively block the energy source T cells rely on to function (More) | What are T cells? (More)

> Archaeologists uncover the most extensive medieval urban sites discovered to date in Central Asia; cities of Tashbulak and Tugunbulak, located along the Silk Road, date back to 550 CE to 1050 CE (More)

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Business & Markets

> US stock markets close lower (S&P 500 -0.9%, Dow -1.0%, Nasdaq -1.6%) (More) | US existing home sales drop 1% month-over-month in September to the slowest annual pace since October 2010; median home price topping $404K is up 3% year-over-year (More)

> Tesla shares rise 12% in after-hours trading on better-than-expected profits (More) | Peloton shares close up 11% after hedge fund founder says stock is undervalued (More) | McDonald's shares close down 5% after CDC announces E. coli outbreak linked to Quarter Pounder burgers across 10 states; total of 49 cases reported, with one person dead and 10 hospitalized (More

> Apple and Goldman Sachs ordered to pay over $89M in penalties and refunds after US regulator finds they misled Apple Card holders (More) | American Airlines to pay record $50M fine over treatment of passengers with disabilities (More

📈Venture Capital 101: Next Thursday, we're launching 1440's Business & Finance newsletter, beginning with a deep dive into the world of venture capital. 100% free, sign up here to receive it in your inbox!

 

Politics & World Affairs

> The Pentagon confirms reports of North Korean soldiers in Russia but says purpose is unclear; South Korea says 3,000 troops are there, part of a planned 10,000-person deployment, with Ukraine saying they are joining Russia's war in Kursk (More) | G-7 finalizes $50B loan to Ukraine, backed by Russian assets (More)

> Florida mother files wrongful death lawsuit against Character.AI—a company allowing users to interface with AI chatbots—after her 14-year-old son, active on the site, dies by suicide (More)

> Mexican soldiers kill 19 suspected members of Sinaloa cartel in shootout in the northwestern state; attack comes months after arrest in the US of cartel cofounder Ismael "El Mayo" Zambada (More)

 

In-Depth

> Are Millennials Wealthy?

Barron's | Reshma Kapadia. New analysis shows millennials may not be behind boomers in wealth accumulation—but the wealth gap for this generation may be the widest yet. Graphics and profiles of millennials—both real and hypothetical—showcase a nuanced picture. (Read)

 

> Mistake Theory

Aeon | David S. Oderberg. In a world where molecules and objects consistently adhere to the laws of physics and chemistry, life sticks out as an exception. Organisms regularly make mistakes as individuals and as groups. Studying the phenomenon may help us better understand what makes life ... life. (Read)

In partnership with Beam

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Etcetera
 

The best places to celebrate Halloween in the US.

 

... and where to dine with ghosts across the country.

 

... plus, Airbnb brings "Beetlejuice" mansion to life.

 

How YouTube grew into a billion-dollar streaming empire. (via ... YouTube)

 

Venture Capital 101: Next week, 1440 is launching its Business & Finance newsletter, beginning with a deep dive into venture capital. Sign up here for free!

 

Watch a fireball shoot across the sky above Lake Erie.

 

Hong Kong discovers its first dinosaur fossils.

 

Science says being a picky eater may be written into a child's DNA.

 

Explaining Crokinole: where tabletop curling meets shuffleboard.

 

Clickbait: Goldfish crackers go gourmet.

 

Historybook: Black Thursday US stock market crash, exchange falls 11% in one day (1929); Jackie Robinson dies (1972); Rapper Drake born (1986); Rosa Parks dies (2005); Bloody Friday worldwide stock market crash with most indexes dropping 10% in single day (2008).

"Memories of our lives, of our works, and our deeds will continue in others."

- Rosa Parks

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