Good morning readers. Once a beacon of modest hopes, the Detroit Pistons are now rewriting the playbook on how not to play basketball. They've turned high draft picks and a top-dollar coach into an art form of losing, now dangerously flirting with the longest losing streak in NBA history. Their record? A staggering 2-25, which isn't just bad, it's historically bad. It's like they're trying to win at losing. Detroit's season is less a rebuild, more a riddle, wrapped in a mystery, inside an enigma. As their star player Cade Cunningham philosophically puts it, maybe they'll emerge as the most 'learned' team, but for now, they're schooling everyone on how not to win a basketball game.

Let’s jump into today’s storylines.

In today’s digest:

• Inside the 2024 struggle for media dominance

• Headline Hustle: Trump disqualified from 2024 presidential ballot, NBCUniversal wants to open a theme park, Tesla drivers lead in accident rates across the US

• THC infused gummies are hospitalizing kids

• Pulse Points: What’s Trending

MEDIA

Media and telecom companies face a rough 2024

If you thought the drama in Succession was intense, just wait until you hear about the real-life suspense unfolding in the entertainment and telecommunications industries come 2024. Despite the resolution of actors' and writers' strikes, and the potential advertising boost from the U.S. presidential election, these industries are grappling with a stark reality: a forecasted downturn in global TV ad revenue.

Titans like Warner Bros. Discovery and Disney aren't taking this lying down, implementing drastic cost-cutting measures and content cost reductions to strengthen their financial positions. Disney, perhaps signaling a cautious optimism, has even rebooted its dividend payments after a three-year hiatus.

Investor expectations are changing

Investors, once enamored with the siren song of subscription streaming video growth, have changed their tune. They're now playing a different melody, one that resonates with the ups and downs of legacy media companies against the backdrop of the S&P 500's performance. As industry experts put it: 2024 is more about strategic chess moves than transformative leaps. But it's not just about making the right moves; it's about timing them with an eye on interest rates, regulatory policies, and growth prospects. Jerome Powell, with his hand on the Federal Reserve's rate-cut lever, could press pause on major corporate transactions, extending the game into 2025.

Where do they grow from here? Post the "Great Netflix Correction" of 2022, the entertainment and telecommunications industries are grappling with the absence of a clear growth narrative. Traditional TV subscriptions and advertising revenues are on a downward trajectory, while major streaming services aren't expected to turn a profit until 2025. Companies are actively streamlining operations to enhance profitability, yet industry valuations remain subdued. Internally, the uncertainty has taken a toll on employee morale, with widespread layoffs and the absence of a clear growth horizon casting a shadow over workplace culture.

Zoom out: As the industry navigates these challenges, 2025 looms as a pivotal year, holding the promise of either transformation or continued turmoil.

Headline Hustle

🇺🇸 Trump disqualified from 2024 presidential primary ballot. In a groundbreaking decision, the Colorado Supreme Court ruled that Donald Trump is barred from the state's 2024 primary ballot due to his role in the Jan. 6 Capitol riot. This controversial 4-3 verdict, hinging on the 14th Amendment, marks a potential turning point. Trump's team slammed the decision as flawed and is gearing up for a Supreme Court battle. This ruling, steeped in constitutional debate, could significantly influence the 2024 election landscape, sparking nationwide legal and political repercussions and intensifying the discourse on democratic processes and candidates' eligibility.

🎢 NBCUniversal wants to open a theme park in the UK. Comcast's NBCUniversal is exploring a groundbreaking move into the UK's theme park arena, challenging Disney's dominance. They've snapped up a 480-acre plot near Bedford, England, potentially marking Universal's first theme park resort in the UK and Europe. While still in the planning stages, this initiative could heat up competition with Disney, which operates a popular resort near Paris. Universal's expansion, part of a larger strategy, signifies a bold investment in their global theme park presence. The project's success, however, remains uncertain, echoing the unpredictable nature of such ambitious ventures.

🚗 Tesla drivers lead in accident rates across the US. A recent LendingTree study reveals a startling trend: Tesla drivers in the U.S. lead in accident rates among 30 car brands, with 24 per 1,000 drivers over a year. This contrasts sharply with CEO Elon Musk's claims of enhanced safety through Tesla's Autopilot. The study also spotlights BMW drivers' higher DUI incidence. Further intensifying concerns, Tesla's Autopilot and Full Self-Driving systems are under scrutiny for safety defects by the National Highway Traffic Safety Administration. These findings challenge perceptions of automated driving technology, highlighting a complex interplay between advanced driver assistance systems and real-world driver behavior, and sparking a broader discussion on automotive safety.

FOOD

THC infused gummies are sending hundreds of kids to the ER

In a society where headlines often revolve around pressing issues, a concerning and relatively silent concern is steadily gaining traction—a surge in THC-infused products and their unanticipated allure to children in the United States and Canada. This issue, concealed within seemingly benign scenarios, has taken a prominent place in the realm of public health. At its core, the matter revolves around the inadvertent exposure of children to THC-laden items, sparking intricate conversations within health and regulatory circles.

Unveiling the THC conundrum

At the heart of this growing issue lies a multifaceted challenge. The proliferation of products infused with THC, many cunningly masked in child-friendly forms such as candies and gummy bears, has led to an unsettling spike in pediatric emergency room visits—an alarming trend in itself. The source of THC in many of these products stems from hemp, legalized under the 2018 Farm Bill, unwittingly opening regulatory gaps and unleashing a wave of new intoxicating cannabis-derived chemicals. As a result, the availability and potency of hemp-derived products, encompassing gummies, syrups, vape cartridges, and more, have surged

However, the regulatory landscape surrounding these products remains…confusing. While some states have taken measures to address the issue, enforcement, particularly in the world of online sales that target children through enticing packaging, remains a challenge.

Navigating the path ahead. As the market for hemp-derived cannabinoids continues its remarkable growth, rivaling established giants like craft beer and legal marijuana, it has triggered concerns among regulated marijuana producers and CBD manufacturers. They are clamoring for more stringent regulations to ensure child safety and health. Even the FDA has recognized the necessity for new legislation to oversee cannabis products more broadly.

SNIPPETS

Pulse Points

• Alphabet, Google's parent company, will pay $700 million and modify its app store practices to settle an antitrust case.

• Volkswagen has agreed with employees on a deal to save up to $4 billion euros in 2024 by downsizing its workforce.

• A federal judge in New York has mandated the public release of the names of numerous alleged victims and associates of Jeffrey Epstein in 2024.

• Google plans to limit the types of election-related queries its chatbot Bard and search generative experience can respond to ahead of the 2024 U.S. Presidential election.

• The French parliament passed an immigration bill increasing the government's power to deport foreigners and restricting access to welfare and citizenship.

• Fairphone's new Fairphone 5, designed for an eight-year lifespan with support through 2031, surpasses competitors like Apple, Google, and Samsung in longevity and features a modular design for easy in-home repairs.

• Ryan Reynolds and Rob McElhenney, co-owners of the Wrexham soccer team, recreated "Wham" album covers, styling themselves as George Michael and Andrew Ridgeley for Christmas.

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