Good morning, Quartz readers!
WHAT TO WATCH FOR TODAY
Brexit crushes global markets. The UK vote (see below) sent the pound sterling to its lowest levels since the 1980s, and stocks in Asia are tanking. US and UK stock futures are also plummeting, signaling a brutal day ahead.
Germany votes on shale gas fracking. Chancellor Angela Merkel’s coalition looks set to pass legislation in parliament that bans the practice. The move will end years of debate over whether Germany should follow the US in setting off a boom in drilling.
Donald Trump goes to Scotland. The presumptive Republican candidate for US president is abandoning his floundering campaign to open a golf course, in a country where he’s despised by locals. One political strategist said: “Everyone knows this is the wrong thing for the nominee to be doing now.”
The new Panama canal opens. It’s a $5.4 billion fast lane for global shipping, designed to accommodate massive new container vessels. It took 10 years and 40,000 workers to widen the canal, though global shipping is currently in a deep slump.
WHILE YOU WERE SLEEPING
British voters decided to leave the European Union. The “leave” side prevailed early morning local time. The surprise result will rattle Europe and shape the nation’s place in the world for years to come. Oil prices plunged on the news.
A jury cleared Led Zeppelin of plagiarism for “Stairway to Heaven.” A jury ruled for the band in a lawsuit that claimed its rock anthem was copied from a 1968 song by the band Spirit. The long-running dispute highlights the seemingly arbitrary enforcement of US copyright law.
Volkswagen reportedly reached a settlement with US regulators. The company will pay more than $10 billion to settle claims by nearly 500,000 vehicle owners stemming the emissions scandal, and also fund efforts to offset pollution, sources told Reuters. The settlement doesn’t include suits filed by US states or investors.
Barnes & Noble announced plans to serve alcohol. The bookstore plans to open four concept stores with eateries attached. The idea is to build on the company’s push into other non-book areas, such as the sale of toys, gifts and vinyl records. Competition from Amazon is forcing the company to get creative.
QUARTZ OBSESSION INTERLUDE
Alison Griswold on the unbearable whiteness of Airbnb-ing. “Airbnb has publicly condemned discrimination, but fixing it is much tougher. It can’t be debunked like a hotel industry report or lobbied away like restrictive rental regulations. Unlike any problem Airbnb has faced before, discrimination is poisoning the platform from within.”Read more here.
MATTERS OF DEBATE
Millennials love a good side hustle. Thanks to the 2008 financial crisis, second jobs are essential to a younger generation trying to get by.
Selfishness is learned behavior. Humans are intuitively generous and cooperative, but overthinking can override those instincts.
Artificial intelligence suffers from a dude problem. Without more female engineers, AIs will be just as biased as their human creators.
Steve Jobs helped the Cleveland Cavaliers win the NBA title.Lebron James played a commencement speech by Jobs to motivate his teammates.
Alphabet’s latest robot can do the chores and shake its booty.The SpotMini looks a little bit like a twerking giraffe.
Elon Musk’s brother is opening a restaurant where everything is $5 or less. Kimbal Musk will have an uphill battle to undercut chains like Chipotle.
Lightning disproportionately targets the poor. Rural homes don’t have enough plumbing or wiring to divert the electrical shock.
KFC is serving fried-chicken boxes that double as phone chargers. The fast-food chain is giving them away in Delhi and Mumbai.
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