8.23.2024

Facts, without motives.
 

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Good morning. It's Friday, Aug. 23, and we're covering the end of the Democratic National Convention, a grinding halt to Canada's rail-based trade, and much more. First time reading? Join over 3.8 million intellectually curious readers. Sign up here.

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Need To Know
 

Harris Accepts Nomination

Vice President Kamala Harris formally accepted the Democratic nomination for president yesterday. The public address capped the four-day Democratic National Convention in Chicago, Illinois. 

 

Harris thanked President Joe Biden, who dropped out of the race last month, endorsing Harris as his successor. She discussed her upbringing and history as a prosecutor and evoked the events of January 6, abortion access, and a failed border security bill in criticizing former President Donald Trump. She also pitched herself as an advocate of working families, promising a middle-class tax cut, and reiterated her calls for an Israel-Hamas ceasefire deal and hostage release.

 

Recent polls suggest Harris has a two-to-three-point lead over Trump nationally, with tight margins between the two in key swing states. Independent candidate Robert F. Kennedy Jr.—recently polling in mid-to-low single digits—is separately expected to end his candidacy and possibly endorse Trump in a speech today in Phoenix, Arizona.

 

See latest polls here.

 

Canada Railroad Stoppage

Over 9,000 rail workers were locked out of Canada's two major railroads yesterday amid failed contract negotiations with the Teamsters union. The stoppage is expected to cost roughly $750M per day and potentially disrupt US-Canada trade, 14% of which stems from Canada's rail network. Canada's government announced it would force the parties into arbitration.

 

Canadian National Railway and Canadian Pacific Kansas City together operate over 40,000 miles of tracks in Canada, the US, and Mexico, transporting 700 million metric tons of cargo annually, representing $277B in goods. Shipments of metal, grain, and fuel will be stopped, as well as the vital chlorine supply used to sanitize public water. Tens of thousands of passengers will also likely be impacted. 

 

Union representatives are seeking better wages and safer scheduling to manage fatigue (see negotiations timeline). Both sides indicated Thursday they were not close to an agreement. 

 

Ready for this Jelly

British researchers have trained a hydrogel to play the 1970s computer game Pong, improving over time. The study builds upon earlier research showcasing the ability to conduct a similar experiment using brain matter

 

Researchers at the University of Reading placed a piece of water-based gel between two plates of electrodes. They administered electric currents representing the paddle and ball through the gel, training it to extend the length of time the ball was in play. The gel reached its peak “skill” level after 20 minutes. Watch a video here.

 

The study's authors say their findings do not suggest the material is alive but rather that it can exhibit something akin to memory, not unlike the impression a pillow makes on skin. Their findings may also be useful for the development of AI. Machine learning systems are currently modeled after biological processes; this experiment could provide an alternative example after which to model systems like ChatGPT. Read the full study here.

In partnership with Substack

The Election Is Happening On Substack

 

From breaking news to thoughtful analysis, the 2024 election is unfolding in the Substack app. Some of the country’s most celebrated writers and original thinkers are on Substack—Bari Weiss, Mehdi Hasan, Nate Silver, and Heather Cox Richardson, to name a few. They’re joined by a new generation of creators, including Brilyn Holland and Gabe Fleisher, who use Substack to share their analysis and build their communities. 

 

With the Substack app, you can read posts from the writers you trust, join the conversation on Notes, watch your favorite writer start a live video, or message a creator you love directly in Chat. Be the first to listen to podcasts from the campaign trail, or read the latest polls on Trump vs. Harris—just in time for their first debate. 

 

Download the Substack app and join the conversation.

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In The Know
 

Sports, Entertainment, & Culture

> The 2024 college football season kicks off tomorrow with limited slate of Week 0 games, including No. 10 Florida State taking on Georgia Tech (12 pm ET, ESPN) from Dublin, Ireland (More

> Megan Thee Stallion tapped to host 2024 MTV Video Music Awards (Sept. 11) (More) | Stephen Nedoroscik, two-time Paris Olympics bronze medalist from the US popularly known as "Pommel Horse Guy," to appear on Season 33 of "Dancing with the Stars" (More)

> National Women's Soccer League and the league's players union agree to collective bargaining agreement eliminating players' draft and raising salary cap (More

 

Science & Technology

> Elon Musk-owned Neuralink says second implant into a human was successful; spinal cord injury patient can now reportedly play video games and operate a 3D printer (More

> Researchers find the Alzheimer's drug donepezil can be used to put tadpoles in a hibernation-like state; discovery may lead to ways to put patients into states of suspended animation during emergencies (More

> Fasting-feasting cycle triggers stem cells to repair intestinal damage but also increases the risk of precancerous growths, dietary study finds (More

 

Business & Markets

> US stock markets close lower (S&P 500 -0.9%, Dow -0.4%, Nasdaq -1.7%); investors await Federal Reserve Chair Jerome Powell's remarks today (More) | US existing home sales rise 1.3% month-over-month in July, the first increase in five months; median home price of $422,600 is up 4.2% from a year ago (More

> Peloton shares close up 35% after beating estimates and reporting year-over-year quarterly sales growth for first time in nine quarters; results come after Peloton cut 15% of staff and its CEO resigned in May (More) | Media veteran Edgar Bronfman Jr. reportedly raises bid for Paramount Global takeover to $6B (More)

> Perplexity to introduce ads to AI-assisted search platform in Q4 (More) | General Motors-owned Cruise to partner with Uber to offer driverless rides in 2025 (More

In partnership with Great Point Capital

Pay Less In Taxes, Keep More Of Your $$$

That’s the topic of Great Point Capital’s investor guide next month. With 20+ years of wealth-building experience, Great Point Capital writes a free, monthly newsletter on how to optimize your portfolio for current economic events (read August’s edition here).

 

Beyond market news deep-dives, this guide covers …

> Which investments you should consider 

> Key tax dates investors should know

> No-cost investing resources to diversify your portfolio and save on taxes

 

Subscribe for free to receive September’s guide on tax mitigation strategies.

 
 

Politics & World Affairs

> US Supreme Court partially grants Republican National Committee's request to reinstate Arizona's never-enforced 2022 law requiring proof of citizenship for registering to vote (More)

> Body of British tech mogul Mike Lynch recovered, fifth body found from luxury superyacht that sank earlier this week off the coast of Sicily; Lynch's 18-year-old daughter still missing (More) | See previous write-up (More

> Venezuela's top court certifies President Nicolás Maduro's disputed election victory amid allegations of voter fraud; court decision cannot be appealed (More

 

In-Depth

> Ant Geopolitics

Aeon | John Whitfield. Tribes of roughly 20 quadrillion ants—200,000 times the number of stars in our galaxy—make war and colonize the globe, drawing comparisons to the development of human societies. (Read)

 

> How Pete Frates Raised Awareness of ALS

ESPN | Staff. Remembering the viral "Ice Bucket Challenge" 10 years after Boston College baseball legend Pete Frates started the trend to drive awareness of amyotrophic lateral sclerosis, from which he died in 2019. (Watch)

> Canada's Biggest Ponzi Scheme

CBC | Zander Sherman. Youth hockey coach, philanthropist, and perpetrator of one of Canada's greatest financial scams: How real estate wunderkind Greg Martel misled investors and fled to Dubai. (Read)

 

> Kissing the Laidly Worm

Myths and Legends | Jason and Carissa Weiser. (Podcast) A modern retelling of an 18th-century ballad in which a princess changed into a dragon only to be restored by her true love's kiss. (Listen)

In partnership with Substack

Your Favorite Thinkers, All In One Place

 

From breaking news to quick analysis, the 2024 election is unfolding on Substack Notes—a space to share short-form thoughts and media with fellow creators and subscribers. Download the app now to get political with some of the country’s best thinkers—Bari Weiss, Mehdi Hasan, Nate Silver, and Heather Cox Richardson, to name a few. 

 

Download the Substack app and join the conversation.

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