ITK Daily | November 8

Happy Tuesday.

Here’s today’s ITK Daily.

To be ITK, know this:

GOTV | Brigadoon Radio: On this episode of Brigadoon Radio, Gerald Ashley and I discuss the US Election 2022 and what's next in American politics, dealing with global inflation challenges and slowing economies, why NFTs and the Skyscraper Index matter, North Korea says missile tests were practice to attack South Korea and the United States, Ukraine as a testbed for weapons and future conflict, expectations of the G20, and what they are reading and watching. Watch here.

Barbados PM launches blistering attack on rich nations at COP27 climate talks: Mia Mottley warns of a billion refugees by the middle of the century unless governments act now to tackle the crisis. Guardian

Germany's Scholz warns against fossil fuel 'renaissance': Le Monde reports Olaf Scholz issued the warning during a speech at COP27, asserting Germany would not fall back on fossil fuels amid an energy crisis caused by a lack of Russian energy imports.

The first global summit of the second cold war: Joe Biden and Xi Jinping may meet at the G20 in Indonesia, whose president embodies an older non-aligned tradition. Gideon Rachman

+ “We refuse to be a pawn in a new cold war,” says Joko Widodo, the president of Indonesia.

+ Next week, the Indonesian president will host what feels like the first global summit of a second cold war — the G20 leaders’ meeting in Bali.

+ Widodo says that, based on a conversation with Putin last week, it is his strong impression that the Russian leader will not attend the Bali summit.

+ In geopolitical terms, Indonesia remains something of a sleeping giant.

Sunak offers UK’s allies cause for hope but Tory dangers linger: New premier’s instincts point to a softer, pro-growth international agenda, but Sunak has said little on foreign policy since taking office. Bloomberg

+ Without Liz Truss’s economic mess, there would be no UK Prime Minister Rishi Sunak.?

+ Sunak, Britain’s youngest prime minister in more than two centuries, came to politics via a career in finance and an MBA from Stanford in California.

+ Sunak’s obsession with the economy is likely to mean a more pragmatic approach to foreign policy on some issues.???

+ Sunak is also likely to differ from Truss on China, according to two British officials. As chancellor, though, Sunak took a different tone and emphasized the strength of the UK-China economic relationship.

+ A softer approach toward China would also bring Sunak into line with Scholz, who was the first Western leader to meet Xi Jinping after the Chinese president’s third term was confirmed.

+ The next general election is due by January 2025 at the latest, though many in Westminster predict it could be in Spring 2024.

Xi’s new No. 2 faces challenge to make China’s economy hum again: Li Qiang will be tested by lockdowns, housing, and headwinds to growth. Bloomberg

+ As the country’s working-age population shrinks, however, and the global dividing lines harden, meeting that goal may be a considerable challenge for Li and the other party cadres charged with steering China’s path.

+? Li Qiang has carved out a pro-business position that seeks to encourage economic growth through investment in high-tech industries, balanced against environmental protection and maintaining a tighter rein on real estate speculation.

FT: Chinese exports fall for first time since 2020

China’s business elite see the country that let them thrive slipping away: The business class, which shunned politics, is now questioning if there is still a place for it in a system dominated by one ruler, Xi Jinping. NYT

China lashes out at visit by UK trade minister to Taiwan: AP reports China lashed out Monday over a visit to Taiwan by British Trade Policy Minister Greg Hands, the latest foreign official to defy Beijing’s warnings over contacts with the self-governing island republic.

Taiwan wants China to think twice about an invasion: If China wants to do something drastic, President Tsai Ing-wen told me, “Xi has to weigh the costs. He has to think twice.” Ben Rhodes

+ If war comes, a thriving democracy could be extinguished. The United States could be drawn into its first direct military conflict with a nuclear-armed superpower.

+ The best outcome for Taiwan would be avoiding war and maintaining the ambiguous status quo. That requires immense discipline, both in presidential statements and in ordinary interactions with the wider world.

+ Tsai talked about what she had learned from Ukraine. One lesson is simply the need for international support—to defend itself or, better, to avoid a war in the first place.

+ Taiwan has term limits, preventing President Tsai from running again. Taiwan’s voters will have an important decision to make in 2024.

America’s chip controls on China will carry a heavy cost: Washington should provide clarity over the scope of semiconductor export measures. FT - Editorial

+ The sweeping controls extend not only to the export of US semiconductor chips but also to any advanced chips made with US equipment. They target “US persons,” meaning not just citizens but green-card holders too.?

+ The US, too, will need to be able to back up its “Made in America” bravado.

US midterms: Tech sector braces for further China decoupling: Election results seen unlikely to change tensions but could spur extra chip subsidies. Nikkei

+ A September survey by Pew Research Center found 82% of US respondents expressed an "unfavorable" view of China, a record high up from 79% in 2020.

+ "Now, frankly, almost all of our tech clients have a policy of trying to find a way to actively decouple from China," said David Crawford, head of the global technology and cloud services practice at consultancy Bain & Company.

What election? EU sleepwalks into US midterms: Republican success could mean more constraints on US aid to Ukraine, more trade tensions, and more drag on global climate ambitions. Politico

+ Around the EU quarter in the Belgian capital, officials are more likely to shrug than fret at the possibility of Republicans retaking control in Congress. That’s despite the fact that such a change would likely mean more constraints on U.S. aid to Ukraine, more “America First” trade tensions, and more drag on America’s climate ambitions — to name a few.?

+ Trump’s looming return to the 2024 campaign trail could soon leave Biden under heightened political pressure to hone in on domestic issues. And a Trump-friendly Republican cohort is rabble-rousing about axing Kyiv’s aid.?

+ A Republican-heavy Congress could also impair the transatlantic trade relationship.?

+ Republicans taking over key congressional committees, such as the House Ways and Means Committee. Jason Smith, a Trump ally and self-described “working-class hillbilly” from Missouri, has unapologetically embraced a more protectionist stance than others in his own party.

+ America’s anti-China bent could intensify with a Republican-controlled Congress.

TikTok ’s stratospheric rise: An oral history: Ten people with front-row seats tell how it became the world’s most popular app. WSJ

+ In just five years, TikTok has exploded into a pop-culture phenomenon as well as a geopolitical flashpoint.

+ Its future remains uncertain, as US officials from both parties see the Chinese import as a national-security threat and advocates for protecting children online warn about its negative effects on its millions of young users.

Adapting your sales approach in a downturn Scott Edinger

+ We’re all familiar with the aphorism that “A rising tide lifts all boats.” But just because the economy ticks down, doesn’t mean your business has to do the same.?

+ Plenty of organizations increase revenue, expand margins, and launch new products successfully in challenging economic times.

+ Three strategies to help your sales organization succeed during a downturn: 1) Involve executives earlier in the sales process. 2) Break out of price-driven sales cycles. 3) Refocus sales managers on planning, not selling.

+ Scott K. Edinger is the founder of Edinger Consulting and a co-author of Making Yourself Indispensable, and author of The Hidden Leader: Discover and Develop Greatness Within Your Company.?

How I write Nassim Nicholas Taleb

+ If you consider writing a creative endeavor, then avoid practicing it in mundane matters as it may both dull your vitality and make it feel like drudgery work.?

+ I don’t read letters and emails longer than a postcard. Writing must have some solemnity. Reading and writing, in the past, were the province of the sacred.

+ I limit my emails to one or two laconic (but sometimes incomprehensible) sentences, postcard-like.

Foxconn plans to invest $170 million in EV truck maker Lordstown Motors : WSJ reports the Ohio-based startup plans to use the funds to hire engineers and jointly develop a new electric vehicle with the Taipei-based contract manufacturer.

Tesla earned eight times as much profit per vehicle as Toyota Motor in the July-September quarter despite being outsold more than seven to one, a Nikkei analysis shows.

索尼 will eliminate plastic in its packaging starting next year as companies worldwide shift to sustainable materials.

GOTV: Over 42 million early votes cast, surpassing 2018 numbers

NYT: Midterms spending projected to top $16 billion, a record

Politico's final election forecast: Senate up for grabs, GOP on the brink of House majority: Our last update finds six Senate races in the “Toss Up” category. Politico

+ Republicans have a grip on the House majority. But the Senate is firmly up for grabs.

+ Five governor’s races enter Election Day as “Toss Ups”: Arizona, Kansas, Nevada, Oregon, and Wisconsin. All but Oregon began in the “Toss Up” category when the forecast was first released this spring, and all but Arizona are currently held by Democrats.

A guide to every key governor’s race on Tuesday: The traditional battlegrounds have been joined by a slate of unusual states on this year's list of top gubernatorial races. Politico

Democrats look to centrists in final hours while GOP amps up its base: WP reports some Republicans have turned to rhetoric stoking cultural divisions and, at times, are pushing racial discord.

As midterms near, Biden faces a nation as polarized as ever: NYT reports President Biden had hoped to preside over a moment of reconciliation after the turmoil of the Trump years. But the fever of polarizing politics has not broken ahead of Tuesday’s midterm elections.

Mitch McConnell helped shape GOP Senate midterm field, now pushes for strong finish: WSJ reports that funds allied with Republican leader spent millions on candidates in close races to win back the chamber.

+ The Senate Leadership Fund, combined with a sister PAC, One Nation, will raise more than $380 million this cycle, its largest-ever midterm effort, and nearly twice the prior record in 2018, according to One Nation President Steven Law, a former McConnell chief of staff.?

‘Still a referendum on both’: Biden and Trump end midterms on 2024 collision course: Politico reports neither of them are on the ballot this month. But in the waning moments, it's all about the president and the former president.

Trump-DeSantis rift grows, with dueling rallies in Florida: NYT reports the Republican Party’s top two stars are campaigning separately in the midterms’ last days.

In affluent Greenwich, it’s Republicans vs. ‘Trumplicans’: The Connecticut suburb was once home to George Bush and has historically been a moderate conservative stronghold. But new hard-liners are on the attack, galvanized by the culture wars. NYT

Donald Trump’s future looms over the US midterms: The former president appears unchanged despite legal troubles and the Capitol insurrection. Courtney Weaver

+ On the campaign trail this past weekend, Trump seemed close to his old self, bestowing a new nickname upon his former protégé turned potential Republican rival Ron DeSantis (“Ron DeSanctimonious”) and touting polls that showed the former president leading the race for the Republican nomination with 71 percent support.

WP: Beto O’Rourke’s third campaign in 6 years embodies Democrats’ unrealized gains

+ Beto O’Rourke has spent 1,175 of the last 2,048 days of his life running for office. Three races in six years: US Senate, then president, now governor.

How Peter Jackson broke up the Beatles: And used AI to make Revolver better than ever. Lane Brown

+ A few years ago, the Lord of the Rings director was hired to sift through 60 hours of unused footage from the 1970 Beatles documentary Let It Be and cut it into his own movie — 2021’s Get Back.

+ Thanks to Jackson and his tech, the Beatles’ legacy is in better shape than ever.?

Eminem found himself in “Lose Yourself.” Will we ever let it go? Twenty years ago, ‘8 Mile’ hit theaters, taking audiences on a quasi-biographical journey through Marshall Mathers’s life. It also spawned his biggest hit—an underdog anthem that lives on through commercials and sports arena sound systems to this day. Jake Kring-Schreifels?

+ Two decades later, “Lose Yourself” remains carved into the culture, one of the most popular songs of the century, underscoring both Eminem’s lyrical and rhythmic genius and his towering, multihyphenate celebrity throughout the early 2000s.

+ Although most prerelease estimates slated the movie to earn around $25 million, 8 Mile more than doubled the projection over its opening November weekend, racking up $54.5 million thanks in large part to its under-25, hip-hop-inspired audience.?

AFP: Jimmy Kimmel to return as Oscars host

Liverpool FC has hired 高盛 and 摩根士丹利 to gauge buyer interest. Purchased for $344 million in 2010, the club was most recently valued at $4.45 billion by Forbes.

Bloomberg: F1’s Lewis Hamilton receives honorary Brazilian citizenship

+ He was honored for winning Interlagos Grand Prix in 2021

+ Lower house’s floor was packed with fans and lawmakers

The memeification of Aaron Rodgers’ struggles has officially begun: The Green Bay Packers quarterback threw three ugly interceptions against the Detroit Lions ’ usually porous defense. This time he couldn’t blame his receivers. Guardian

Will the e-sports bubble burst? Presented as a sector with infinite potential for growth, e-sport is now struggling to keep its promise of being financially viable. As investments dry up, some teams might not survive. Le Monde

2022 World Cup: Qatar's foreign minister denounces 'hypocrisy of attacks': In an interview with 'Le Monde,' Qatar's Foreign Minister Mohammed ben Abderrahmane Al-Thani defends his country against criticisms over the World Cup. Le Monde

Enjoy the ride + plan accordingly.

-Marc

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