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Boris John Was Brought Down By An Avalanche Of Resignations UK prime minister Boris Johnson is officially out of 10 Downing Street after an avalanche of resignations from within his own government, following a string of scandals. State of the resig-nation Data compiled by the Institute for Government (recreated above) shows how Johnson's tenure had already been dogged by more ministerial departures than many of his predecessors in his first 3 years in office. But the pressure on his premiership ratcheted up significantly on Tuesday when two key ministers, chancellor Rishi Sunak and health secretary Sajid Javid, left their positions within 10 minutes of each other — writing some pretty damning resignation letters in the process. As Johnson clung to power in the wake of those departures, he worked quickly to re-assemble his top team. He was hopeful that his new appointment to Chancellor, Nadhim Zahawi, would be a powerful ally. 𝙲𝚑𝚊𝚛𝚝𝚛 | 𝙳𝚊𝚝𝚊 𝚂𝚝𝚘𝚛𝚢𝚝𝚎𝚕𝚕𝚒𝚗𝚐

𝚃𝚞𝚛𝚔𝚎𝚢𝚜 𝙰𝚛𝚎𝚗'𝚝 𝚆𝚑𝚊𝚝 𝚃𝚑𝚎𝚢 𝚄𝚜𝚎𝚍 𝚃𝚘 𝙱𝚎: 𝚃𝚑𝚎𝚢'𝚛𝚎 𝙰 𝙻𝚘𝚝 𝙱𝚒𝚐𝚐𝚎𝚛 60 years ago the average turkey weighed about 17 lbs, today it's almost double that (according to USDA). The techniques have gotten some help from scientific progress, but the strategy has remained simple: breed the largest males with as many hens as possible. Rinse and repeat every year and with a little help from artificial insemination (helps spread the genetic material of the largest birds further), the result is bigger and bigger turkeys. How long this trend can continue is unclear, but even in the last decade the average turkey has gained ~11% in weight, suggesting it is far from plateauing. Athough the turkeys have been getting bigger, American consumption of turkey has been coming down for quite some time. "Peak turkey" was actually back in 1996. 𝙲𝚑𝚊𝚛𝚝𝚛 | 𝙳𝚊𝚝𝚊 𝚂𝚝𝚘𝚛𝚢𝚝𝚎𝚕𝚕𝚒𝚗𝚐

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THE Death Of Jeans Was Greatly Exaggerated: Levi's Sales Bounce Back Shares in Levi Strauss are up ~4% this morning after beating expectations for the second quarter, as the retailer notched its eighth straight quarter of positive net income, exactly 2 years after the company saw sales collapse during the start of the pandemic. Stretchy demand As maybe the biggest name in the denim game, Levi's recent results suggest consumers never really had plans to break up with their jeans on a permanent basis. The competition from more casual options like sweatpants could have been a permanent problem for Levi's, but the rise of casual actually seems to have benefited the jeans maker as more people are wearing denim to the office according to Levi's management. Google search data backs this trend up, with searches for "jeans" getting back to normal at the end of last year, after falling during early 2020. 𝙲𝚑𝚊𝚛𝚝𝚛 | 𝙳𝚊𝚝𝚊 𝚂𝚝𝚘𝚛𝚢𝚝𝚎𝚕𝚕𝚒𝚗𝚐

Just Eat Takeaway's Acquisition Of Grubhub Isn't Going Well In 2020 European company Just Eat Takeaway struck a deal which they hoped would break open the US food delivery market — offering $7.3bn to acquire Grubhub. The takeover, which was completed a year later and created the largest delivery service in the world outside of China, hasn't taken long to lose its flavor. Fierce competitors DoorDash and Uber Eats have eaten into Grubhub's market share. In 2018 the company had more than a third of the US market, last month they had just 13%. A prime opportunity After a tricky start to 2022 — with orders down 1% in the first three months — Just Eat announced in April that they were exploring the option of offloading their ailing US acquisition less than a year after they bought it. Enter Amazon. With Just Eat under pressure to jettison its US operations Amazon swooped in, announcing on Wednesday that they had secured an option to buy a 2% stake in Grubhub. 𝙲𝚑𝚊𝚛𝚝𝚛 | 𝙳𝚊𝚝𝚊 𝚂𝚝𝚘𝚛𝚢𝚝𝚎𝚕𝚕𝚒𝚗𝚐

𝙰 𝙱𝚛𝚒𝚎𝚏 𝙼𝚘𝚍𝚎𝚛𝚗 𝙷𝚒𝚜𝚝𝚘𝚛𝚢 𝙾𝚏 𝚂𝚝𝚘𝚛𝚒𝚎𝚍 𝙼𝚘𝚝𝚘𝚛𝚌𝚢𝚌𝚕𝚎 𝙼𝚊𝚔𝚎𝚛 𝙷𝚊𝚛𝚕𝚎𝚢-𝙳𝚊𝚟𝚒𝚍𝚜𝚘𝚗 Few companies embody the U-S-A more than that of Harley-Davidson, the iconic motorcycle maker that's been producing "hogs" since 1903. As a uniquely American brand the loyalty of its customer base, many of whom owned multiple Harley-Davidson's, drove revenue and profits higher and higher. The financial crisis took the fizz out of HOG's share price, but that overshadowed a fundamental problem: younger people were not interested in buying motorcycles, and Harley-Davidson's customers were getting older, and fewer in number. Recognizing this, the company announced an electric bike brand LiveWire in 2014. Now LiveWire is about to go public, after being spun out. But, even with one of the biggest electric bike brands, motorcycle sales at Harley-Davidson have declined steadily since 2014, and their valuation is back to where it was in 90s. 𝙲𝚑𝚊𝚛𝚝𝚛 | 𝙳𝚊𝚝𝚊 𝚂𝚝𝚘𝚛𝚢𝚝𝚎𝚕𝚕𝚒𝚗𝚐

More Data 1) Age distributions in the US Congress relative to the US population. 2) Forbes has released its annual list of the The World’s Most Valuable Soccer Teams, with Real Madrid taking the top spot again, valued at $5.1bn. 3) Home prices in the US were up 20.6% in March compared to the same time last year, according to the latest data out this week. 4) The US once again has the title of world's fastest supercomputer, with the Frontier system capable of doing 1.1 quintillion operations per second. 5) Italy's cheese consortium, responsible for delivering more than $2.6bn worth of Parmigiano Reggiano every year, are looking at inserting tiny tracking devices in 100,000 wheels of Parmigiano Reggiano in an effort to curb cheese fraud. 6) Apple's Safari Browser now reportedly has a billion users... which is good for second place in the browser market, but is still way behind the 3.4bn of Google Chrome. 𝙲𝚑𝚊𝚛𝚝𝚛 | 𝙳𝚊𝚝𝚊 𝚂𝚝𝚘𝚛𝚢𝚝𝚎𝚕𝚕𝚒𝚗𝚐

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US Gasoline Prices Are Reaching New Highs Almost Every Week Inflation is hitting almost everything (except chicken wings, interestingly), but the one item that many track most closely is gasoline. The bad news is that average gasoline prices in the US have hit a record high in May, at $4.59 per gallon, which is up 52% on this time last year. If you live in California you're probably wishing you were paying $4.59 a gallon — average prices there are close to $6 a gallon. Crude oil itself makes up around 60% of the cost of a gallon of gas, with the rest made up of refining, distribution / marketing costs and taxes according to the EIA. Unfortunately crude oil prices are still up at $115 / barrel, way up on $60-80 range they traded at for much of last year. So gas prices aren't likely to budge lower until oil does — and even if oil was suddenly $70 / barrel gas prices would likely take their time to come down thanks to a phenomenon known as "rockets and feathers". 𝙲𝚑𝚊𝚛𝚝𝚛 | 𝙳𝚊𝚝𝚊 𝚂𝚝𝚘𝚛𝚢𝚝𝚎𝚕𝚕𝚒𝚗𝚐

The "Big 4" Have Been Getting Bigger For the best part of the last two decades the "big 4" — made up of EY, Deloitte, PwC and KPMG — have dominated the world of professional services. Do business, or even just look at the accounts of, any major multinational company and you're likely to cross paths with the work of one of the audit, advisory, consulting, corporate finance, legal or tax divisions of the big 4. Indeed, in just over a decade the collective global revenue of the big 4 has risen from $95bn to $167bn. Deloitte, which is the biggest of the four, has also been the fastest growing — topping $50bn in revenue last year for the first time (that's more than Netflix, Twitter and Airbnb combined). Regulators have worried that the big 4 have gotten too big in the last 20 years. Together they audit pretty much every single major public company in America, and much of the western world, and conflicts of interest between the different services offered have been common. 𝙲𝚑𝚊𝚛𝚝𝚛 | 𝙳𝚊𝚝𝚊 𝚂𝚝𝚘𝚛𝚢𝚝𝚎𝚕𝚕𝚒𝚗𝚐

Top Gun Proves There's Life At The Box Office For Non-Superhero Movies Too Top Gun: Maverick has taken off at theatres, raking in $156m in the US over the extended Memorial Day weekend. That haul not only breaks the previous record for the holiday from 2007, but it also marks Tom Cruise's own personal record for a box office weekend debut — which is good going for an actor that is sixth on the all-time list of highest grossing actors. With sky-high ratings — 8.7 / 10 on IMDB and 96% fresh on Rotten Tomatoes — the coming weeks are likely to see Top Gun: Maverick go on to become one of the biggest box office hits of the year. That's important because Top Gun is pretty much the first non-superhero movie to be a really big hit since the pandemic. As we highlighted two weeks ago, the superhero genre (in particular Marvel), has kept the box office in business over the last two years, leaving many to wonder whether non-superhero movies could thrive at the box office post-pandemic. 𝙲𝚑𝚊𝚛𝚝𝚛 | 𝙳𝚊𝚝𝚊 𝚂𝚝𝚘𝚛𝚢𝚝𝚎𝚕𝚕𝚒𝚗𝚐

More Data 1) Putting the $52bn of aid to Ukraine in context — 4 charts from the NYTimes. 2) Netflix needs a big hit after revealing it is losing subscribers... and it's banking on the latest season of Stranger Things, which cost $30m per episode, to do the trick. 3) Analysis from FiveThirtyEight suggests that support for gun control, and media attention on the subject, is likely to rise in the wake of the Robb Elementary shooting — but that it might not last forever. 4) One for the OG chart nerds: the beauty of charting software all the way back to the 1980s. 5) The number of homes for sale in the US is up 9% on this time last year, as sellers look to join in on the red-hot real estate market. 6) The UK government has announced a 25% extra windfall tax on energy companies, which have seen surging revenues in recent months. 𝙲𝚑𝚊𝚛𝚝𝚛 | 𝙳𝚊𝚝𝚊 𝚂𝚝𝚘𝚛𝚢𝚝𝚎𝚕𝚕𝚒𝚗𝚐

The US Federal Deficit Is Set To Shrink, Back Towards "Normal" The US government is still "living beyond its means", with the federal budget deficit expected to come in at $1 trillion for this year according to new forecasts from the CBO. That's a huge amount of money, but it is actually way down on the $3 trillion or so that the deficit has averaged over the last two years, when government spending dramatically increased in response to the pandemic as multiple stimulus checks, tax credits and other relief programs were introduced. As the chart above shows, those deficits were worth almost 13-15% of the entire value of the US economy. Going forward the CBO forecasts that the US federal deficit is likely to steadily rise from around 4% of GDP this year to around 6% of GDP by 2032. Incredibly, less than half of that estimated deficit is actually from spending — the majority is actually just interest payments on debt we already owe. 𝙲𝚑𝚊𝚛𝚝𝚛 | 𝙳𝚊𝚝𝚊 𝚂𝚝𝚘𝚛𝚢𝚝𝚎𝚕𝚕𝚒𝚗𝚐

Apple & Google Have A Tight Grip On Global Smartphone Software This week Apple released its latest research on the App Store, in a bid to persuade the public — and more importantly policymakers — that the app economy under its control is thriving, and that Apple's continued stewardship of it is a good thing. The research finds that the iOS app economy now supports 2.2 million jobs. Recently the software of Apple (iOS) and Android, the latter of which is Google's mobile operating system, have come to dominate the global mobile operating system market. Google's stroke of genius was to make Android free and open source, allowing companies to freely build on top of the Android OS. Both bring in tens of billions for their respective owners, and together they account for more than 99% of all mobile operating systems according to data from StatCounter. Lawmakers haven't completely missed the memo, and app stores are the latest way that governments are looking to regulate big tech. 𝙲𝚑𝚊𝚛𝚝𝚛 | 𝙳𝚊𝚝𝚊 𝚂𝚝𝚘𝚛𝚢𝚝𝚎𝚕𝚕𝚒𝚗𝚐

College Enrollment Fell In Spring 2022... For The 11th Year In A Row 685,000 fewer students were enrolled in post-secondary education in America this spring, a 4.1% fall on 2021, which itself was a 3.5% fall on the numbers from 2020 according to data out yesterday from the NSC Research Center. The biggest drop came in undergraduates, as 662,000 fewer undergraduates enrolled — a 4.7% drop on the year before. Community college numbers fell almost 8%. Part of that fall could be explained away by the pandemic, where remote-learning distinctly diminished the college experience, but the scale and consistency of the declines suggest something larger is at play: college is losing its allure. Once the golden ticket to a middle class life, the rise in the cost of college has outstripped the rise in the cost of living many times over in the last 50 years, suggesting that the math of the college decision is, for some prospective students, not adding up anymore. 𝙲𝚑𝚊𝚛𝚝𝚛 | 𝙳𝚊𝚝𝚊 𝚂𝚝𝚘𝚛𝚢𝚝𝚎𝚕𝚕𝚒𝚗𝚐

More Data 1) A survey of more than 33,000 Americans sought to find the definitive ranking of America's most reputable brands. 2) The tragic shooting in Texas that claimed the lives of 19 children and 2 adults yesterday was the 27th school shooting in the US this year. 3) Controversial WeWork founder Adam Neumann is back — this time he's raised $70m as a co-founder of Flowcarbon, a start-up looking to facilitate the sale of carbon credits on a blockchain. 4) "A photo of a raccoon wearing an astronaut helmet, looking out of the window at night" — just one example of what Google's latest AI text-to-image generator can produce. 5) New York officials have removed the very last public payphone in New York City. At one point there were more than 6,000 in the city. 6) If we had to pick just one chart to explain what's happened to stocks / the economy in the last few years this would be a pretty strong contender. 𝙲𝚑𝚊𝚛𝚝𝚛 | 𝙳𝚊𝚝𝚊 𝚂𝚝𝚘𝚛𝚢𝚝𝚎𝚕𝚕𝚒𝚗𝚐

Bitcoin Has Been Trading With The Stock Market This Year Bitcoin has often been likened to a digital version of gold — which for years has been a safe haven asset, known as a trusty "store of value" when times have been more uncertain. Indeed, the data for 2022 suggests the price of bitcoin often moves in the same direction as stocks, rather than the opposite. Of the 98 trading days we've had so far, Bitcoin and the S&P 500 Index have moved in the same direction on 73 of them, while moving in the opposite direction just 25 times. The biggest moves in stocks, like when US stocks fell 3.2% on May 9th, also came with large moves in BTC. Bitcoin has transitioned from a fringe asset into one with huge institutional backing — Coinbase just became the first crypto company to join the Fortune 500 — but its role as "digital gold" is hard to rubber stamp until it's weathered at least one sustained major economic downturn. 𝙲𝚑𝚊𝚛𝚝𝚛 | 𝙳𝚊𝚝𝚊 𝚂𝚝𝚘𝚛𝚢𝚝𝚎𝚕𝚕𝚒𝚗𝚐

America's Birth Rate Rose Last Year For The First Time Since 2014 The birth rate in the US rose last year, for the first time since 2014, with more than 3.65 million babies born in America in 2021 according to preliminary data from the CDC. That's up around 1% on the previous year, and reverses a seven-year trend of falling births. The rise in births means that, despite a marked increase in total deaths from COVID in the last two years, the US population naturally grew by around 198,000 people in 2021. That's the lowest margin between the two that we could find data for. Although a 1% rise is significant, it's not exactly the "baby boom" that some had joked about during the early days of the pandemic. The total fertility rate - which estimates the average number of babies a woman would have over a typical lifetime - was 1.66, below the widely-accepted figure of 2.1 that would keep a population in a steady state over multiple generations. 𝙲𝚑𝚊𝚛𝚝𝚛 | 𝙳𝚊𝚝𝚊 𝚂𝚝𝚘𝚛𝚢𝚝𝚎𝚕𝚕𝚒𝚗𝚐

SNAP: Back To Reality This week Snapchat spooked the digital advertising world as it warned that the economy had deteriorated further and faster than it had anticipated. Investors, who have already fallen out of love with tech this year, didn't need to hear much more and sold SNAP shares aggressively, sending them down 43% yesterday. Beloved by Gen-Z (Snapchat had more Gen-Z users than even TikTok had last year), Snapchat has been slowly maturing since its IPO in 2017. Despite its best features being borrowed and copied, SNAP's 12-month revenue is up 9x and its daily active users have exactly doubled (to 332 million) and yet the company's share price is now half where it was after its first day of trading back in 2017, having hit the highs of $83 as recently as September 2021. SNAP's warning has everyone worried that the advertising market is about to take a serious turn for the worse. Despite Snapchat's relatively modest size, the news rocked Meta. 𝙲𝚑𝚊𝚛𝚝𝚛 | 𝙳𝚊𝚝𝚊 𝚂𝚝𝚘𝚛𝚢𝚝𝚎𝚕𝚕𝚒𝚗𝚐

More Data 1) Two-of-a-kind: a super rare 1955 Mercedes-Benz has sold for $143m — officially making it the most expensive car ever sold. 2) The Voyager 1 space probe, which is some 14.5 billion miles from Earth, has started sending seemingly random data back to Earth after 44 years of relative reliability. 3) The S&P 500 Index of US stocks is on the brink of a bear market as the likelihood of a recession inches higher. 4) Great population pyramid on reddit visualizing the demographics of the United States which led us to find out that on average 21 boys are born for every 20 girls around the world (source)... which was very much news to us. 5) The list of things seeing deflation, rather than inflation, is pretty short -- but chicken wings are on that list. 6) Cases of monkeypox have doubled to 20 in the UK. 𝙲𝚑𝚊𝚛𝚝𝚛 | 𝙳𝚊𝚝𝚊 𝚂𝚝𝚘𝚛𝚢𝚝𝚎𝚕𝚕𝚒𝚗𝚐

Cannibalism. Is this the new trend for 2022? • Growing World trend?! • Cannibals spreading in Europe! • "Vegetarian" burgers made from human meat… Only in the world technology

America's Biggest Employers Now Say They Are Overstaffed We've made a number of charts in recent months about how tight the labor market is and how hard it's been for companies to get enough workers. So it was a bit of a shock this week to hear that Walmart and Amazon — America's biggest private employers — both reported being overstaffed in the first quarter of this year. Amazon, which has grown into a 1.6 million strong workforce in record speed, reported that as COVID-19 subsided in the second half of the quarter and employees returned from leave, the company quickly went from being understaffed to overstaffed, which resulted in $2bn of extra costs. For years Amazon has been on a hiring spree — that might have finally changed. 𝙲𝚑𝚊𝚛𝚝𝚛 | 𝙳𝚊𝚝𝚊 𝚂𝚝𝚘𝚛𝚢𝚝𝚎𝚕𝚕𝚒𝚗𝚐

Huge Business Have Been Built On The Back Of "Buy Now, Pay Later" The simplest notion of credit, lending someone something, has been around in some form for literally thousands of years. Yet even in the 21st century people are still iterating on that core idea — the most recent innovation being "buy now, pay later" (BNPL) — a simple mechanism offered by companies like Klarna, Afterpay and Affirm that have become enormous businesses in the last few years. BNPL companies allow consumers to pay for stuff in a set number of interest-free installments, taking a fee from the merchants that are doing the actual selling. Not ones to miss out on a convenient offer like that, 40-50% of all Americans have now used a BNPL service. One of the earliest entrants into the space was Swedish company Klarna which last year was valued at $46 billion. 𝙲𝚑𝚊𝚛𝚝𝚛 | 𝙳𝚊𝚝𝚊 𝚂𝚝𝚘𝚛𝚢𝚝𝚎𝚕𝚕𝚒𝚗𝚐

Disney's Acquisition Of Has Changed Cinema Forever From Russo's director chair it would be hard to come up with any conclusion other than "cinematic universes are the future" considering the unbelievable success of the Marvel Cinematic Universe which has pumped out box office hit after box office hit since Disney acquisition of Marvel Entertainment in 2008. Indeed, all told the 28 movies in the MCU have grossed more than $26 billion on the big screen, for a whopping $940m+ average per movie. Marvel's latest entry in the series, Doctor Strange in the Multiverse of Madness, is a great example of the incredible pull of the MCU. Doctor Strange is not exactly a character with the fame of Spider-Man, Thor or Captain America and yet the movie has already pulled in $720m globally. That is only just shy of the $768m pulled in by rival DC Comics' flagship character movie The Batman. Perhaps what's most insane about the Marvel movies is that there are no signs of production slowing down. 𝙲𝚑𝚊𝚛𝚝𝚛 | 𝙳𝚊𝚝𝚊 𝚂𝚝𝚘𝚛𝚢𝚝𝚎𝚕𝚕𝚒𝚗𝚐

𝙸𝚗𝚏𝚕𝚊𝚝𝚒𝚘𝚗: 𝚆𝚑𝚊𝚝'𝚜 𝚁𝚒𝚜𝚒𝚗𝚐 𝚃𝚑𝚎𝚎 𝙼𝚘𝚜𝚝? Recently inflation in the US hit a number not seen for 40 years, as prices rose on average 7% from Dec-2020 to Dec-2021. Within that overall measure there is of course a huge range of price changes. We've chosen some of the most important categories from the BLS data. At the top of the list is "getting around by car", with gasoline prices up almost 50%, and used cars and trucks costing on average 37% more than in 2020. Utility costs are also up, with gas up 24% and electricity up 6%. In the food department it's bad news for bodybuilders with proteins like meat, poultry, fish and eggs up on average 12%, and weekly food shop likely to cost you 6.5% more this year. Eating out, or "food away from home" as the Bureau of Labor Statistics puts it, is also up 6%. 𝙲𝚑𝚊𝚛𝚝𝚛 | 𝙳𝚊𝚝𝚊 𝚂𝚝𝚘𝚛𝚢𝚝𝚎𝚕𝚕𝚒𝚗𝚐

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More Data 1) How is inflation impacting you personally? Depends on what you eat, drive and buy — this great interactive visualization from The NYTimes gives you a bit more of a personal perspective. 2) The Office's longevity is remarkable: this chart shows the relative search interest of popular TV series after the last episode air date. (Ouch, Game of Thrones). 3) MiamiCoin, a crypto project that hoped to raise funds for government projects, has lost ~90% of its value from its peak as the crypto crash continues. 4) Walmart has joined the list of companies that have had a rough quarter — yesterday the retailer's share price fell 11% after reporting difficulties due to inflation, a tight labor market and dramatically slower online sales growth (1% this year vs. 37% last year). 5) COVID-19 was ninth on the list of a survey of Americans biggest concern. Inflation came top. 6) US traffic deaths have s their highest level in 16-years, with 2021 deaths rising by 10% on the year. 𝙲𝚑𝚊𝚛𝚝𝚛 | 𝙳𝚊𝚝𝚊 𝚂𝚝𝚘𝚛𝚢𝚝𝚎𝚕𝚕𝚒𝚗𝚐

A Bit Of Both: Most Employees Want A Hybrid Work Solution Every week new tensions crop up at companies — big and small — all around the world over one key question: what's the right balance between fully in-office and fully at-home for employees? I want to WFH (sometimes) We've summarized the conclusions of a great survey from Gallup in the chart above, and the conclusions are pretty straightforward — most people want a little bit of both. Pre-pandemic, just 8% of remote-capable jobs were actually done exclusively from home, a proportion that has jumped almost 5x, to 39%, as of February of this year. But interestingly, most employees surveyed — 59% to be exact — would actually prefer a hybrid working arrangement, which is more than the 32% that would like to be exclusively remote, and way ahead of the 9% that would like to be fully on-site. 𝙲𝚑𝚊𝚛𝚝𝚛 | 𝙳𝚊𝚝𝚊 𝚂𝚝𝚘𝚛𝚢𝚝𝚎𝚕𝚕𝚒𝚗𝚐

The CEO- Worker Pay Gap Has Widened In The Last 50 Years Indeed, this updated chart above, using data from the EPI shows how CEO compensation has outstripped that of typical workers over the last 50+ years. From 1965-1970 the average CEO of a top company in the US earned 23x that of a typical worker. By 1990 that was 74x. In 2020 the average top CEO's actual, realized compensation was more than 350x that of a typical employee (the realized vs. granted difference is primarily down to stock market returns, as stock options and equity usually make up the majority of CEO compensation deals). 𝙲𝚑𝚊𝚛𝚝𝚛 | 𝙳𝚊𝚝𝚊 𝚂𝚝𝚘𝚛𝚢𝚝𝚎𝚕𝚕𝚒𝚗𝚐

CEO Pay In The US, Visualized The median pay package for the CEOs of America's largest public companies rose an inflation-busting 12% last year according to analysis of more than 400 companies from the Wall Street Journal, with a typical CEO making a crisp $14.7m — and 9 CEO's raking in packages worth more than $50m last year. The data comes amidst a number of shareholder rebukes of CEO packages. Yesterday, JPMorgan shareholders voted against Jamie Dimon's pay, with only 31% supportive of a $50m one-off payment to the bank's CEO. Where shareholders voted against a $178m payout to CEO Pat Gelsinger, and last week Amazon shareholders were also advised to vote against the packages of a number of top execs, including CEO Andy Jassy. Elon Musk, who this week has been Tweeting to complain about Twitter's fake users, is a notable exception on CEO pay, with Tesla reporting no pay to Musk again after awarding him a record 2018 package that was valued at $2.3 billion at the time. 𝙲𝚑𝚊𝚛𝚝𝚛 | 𝙳𝚊𝚝𝚊 𝚂𝚝𝚘𝚛𝚢𝚝𝚎𝚕𝚕𝚒𝚗𝚐

More Data 1) Elon Musk has put his $44bn acquisition of Twitter on hold as he tries to verify what percentage of Twitter's user base are real accounts. 2) Google Maps has a new mode, designed to give you an idea of what an area might actually feel like once you're there: the Immersive View. 3) Grocery delivery company Instacart is braving the turbulence in financial markets, filing to go public just weeks after slashing its own valuation by almost 40%. 4) Reviewers have finally got their hands on the reinvention of America's most popular vehicle, the Ford F-Series pickup, which now comes in electric. 5) Disney+ added almost 8 million new subscribers in its most recent quarter, just a few weeks after Netflix reported losing 200,000 subscribers. 6) Scientists have captured an image of the black hole at the center of the Milky Way for the first time. Sagittarius A*, as it is called, is roughly 4 million times the mass of our Sun. 𝙲𝚑𝚊𝚛𝚝𝚛 | 𝙳𝚊𝚝𝚊 𝚂𝚝𝚘𝚛𝚢𝚝𝚎𝚕𝚕𝚒𝚗𝚐

The Baby Formula Storage The US is in the middle of a baby formula shortage. Real-time data from Datasembly, which we've recreated in the chart above, shows that the percentage of baby formula that was out-of-stock hit 43% nationwide, way up on the more usual range of 2-8%. A blend of manufacturing issues, distribution issues and product recalls — most recently from Abbott Laboratories amidst reports of infant illness from bacterial infections — have caused the shortages. Understandably, parents have been trying to get around the shortages. Some have reported stockpiling formula and Google searches for "how to make baby formula" have risen more than 1,000%, despite most doctors warning against homemade formula. Around 25% of parents breastfeed their children until they are at least 6 months old, which means that the vast majority of parents rely on formula to varying extents. 𝙲𝚑𝚊𝚛𝚝𝚛 | 𝙳𝚊𝚝𝚊 𝚂𝚝𝚘𝚛𝚢𝚝𝚎𝚕𝚕𝚒𝚗𝚐

Finland's Population Is Now Strongly In Favour Of Joining NATO Leaders of Finland announced yesterday that they were in favor of rapidly applying to join NATO, the defense alliance that counts 30 members including the US, UK, France and Germany. That announcement is reflective of a change in Finland's national mood since Russia invaded Ukraine. As recently as the end of February a poll found that only just over half of all Finns were in favor of joining the military alliance. Just over two months later, that proportion has risen to 76%, while the number opposed to joining the alliance has fallen from 28% to 12%. The announcement from Finland, with Sweden also looking at potentially joining, has frustrated officials in Russia who have long warned against NATO expansion. Because of their 800-mile border with Russia, if Finland does join the alliance it will more than double NATO's border with Russia (map here). 𝙲𝚑𝚊𝚛𝚝𝚛 | 𝙳𝚊𝚝𝚊 𝚂𝚝𝚘𝚛𝚢𝚝𝚎𝚕𝚕𝚒𝚗𝚐

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Things Could Still Get A Lot Worse For Tech Stocks Usually when the share price of a well-known tech company falls more than 10% it's a perfect story for us to do a chart on. But in the last few weeks we've been overwhelmed, as almost every single day multiple major household names have been taking double-digit losses. We highlighted some of the worst affected last week — many of which have continued their slide this week. We've combed through 50 years of daily data on the NASDAQ Composite Index, a tech-heavy index comprised of more than 2,500 companies, to get some perspective on how bad this crash has been... and how bad it could get. So far the NASDAQ is down 29% from its previous peak. That puts it in bear market territory, but it isn't even close to the 75-80% drop that was seen during the bursting of the dotcom bubble in 2000 or the depths of the Global Financial Crisis of 2008/09. 𝙲𝚑𝚊𝚛𝚝𝚛 | 𝙳𝚊𝚝𝚊 𝚂𝚝𝚘𝚛𝚢𝚝𝚎𝚕𝚕𝚒𝚗𝚐

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More Data 1) Peloton and Coinbase are the latest tech companies to hit the headlines for the wrong reasons. Peloton's turnaround plan is off to a slow start with sales down 15%, while Coinbase reported that crypto trading volumes were down 40%. 2) Cool network diagram showing which foreign countries are googled the most within each country. 3) Samsung and LG have been showing off what could be the future of the smartphone, including foldable and rollable screens. 4) Andy Warhol's painting of Marilyn Monroe has sold for $195 million - making it the most expensive piece of 20th-century art ever sold. 5) A Nepali mountaineer has ascended to the top of Mount Everest. No big deal except that it was his 26th time of doing it — a new world record. 𝙲𝚑𝚊𝚛𝚝𝚛 | 𝙳𝚊𝚝𝚊 𝚂𝚝𝚘𝚛𝚢𝚝𝚎𝚕𝚕𝚒𝚗𝚐

The Rise & Fall Of The iPod In October 2001 Apple released the iPod. Its iconic scroll wheel and the slogan "1,000 songs in your pocket" were an instant hit, and within few years the world of music was changed forever. The iPod, and other MP3 players, offered an alternative to the mostly-linear way that albums used to be listened to on CD or vinyl — and they were just so much more convenient. "1,000 songs in your pocket" was a powerful slogan that quickly became 2,000, then 4,000 and 16,000 as storage capacity expanded. The fact that most people only had a few hundred songs to fill their iPods with was irrelevant. Nothing lasts forever in tech and this week Apple announced it was going to discontinue the product line, marking the official end of the iPod era — which at its peak saw Apple shift more than 50 million iPods every year. Indeed, before the rise of the iPhone the iPod was the company's crown jewel alongside the Mac — in 2006 the iPod was roughly 40% of Apple's revenue. 𝙲𝚑𝚊𝚛𝚝𝚛 | 𝙳𝚊𝚝𝚊 𝚂𝚝𝚘𝚛𝚢𝚝𝚎𝚕𝚕𝚒𝚗𝚐

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