Good morning, Quartz readers!
What to watch for today
Kenya goes to the polls. Some 19.6 million Kenyans will pick between president Uhuru Kenyatta and veteran opposition leader Raila Odinga to run East Africa’s largest economy. Nairobi has emptied out due to mounting tensions and there are worries that basic voting equipment could fail.
Rex Tillerson heads to Asia. The US secretary of state is making his inaugural visit to Malaysia, where he seeks to make good on president Trump’s vow to strengthen ties. He will also stop in Thailand, where he will be the most senior US official to visit the country since a 2014 coup.
China begins talks with Panama. A Panamanian envoy of officials will visit China to talk bilateral trade for the first time since establishing ties. The partnership follows Panama’s break from Taiwan in June, a victory for Beijing and the latest blow to the self-ruled island nation, whose allies have been dwindling in the face of a powerful China.
While you were sleeping
Tesla is raising $1.5 billion in junk bonds to build Model 3s. The electric car maker will make its debut in the junk bond market in a bid for quick cash to fund production of its mass market sedan. CEO Elon Musk has previously said that building the 500,000 Model 3s customers have preordered will be “manufacturing hell.”
Travis Kalanick won’t return as CEO of Uber. In an email to employees, the ride-sharing company’s co-founder Garrett Camp said that Uber’s “new chapter” won’t include Kalanick. The announcement dispels rumors that Kalanick is “Steve Jobs-ing it” and would have returned to leadership in due time.
Netflix acquired comic book publisher Millarworld. In its first ever acquisition, the video streaming company bought the producer behind the billion-dollar film franchises “Kick-Ass” and “Kingsman.” The deal allows Netflix to develop content with Millarworld characters, and is seen as part of the company’s move to become the world’s biggest streaming service .
Marriott partnered with Alibaba. In a move to woo Chinese tourists, the world’s biggest hotel chain will allow Chinese travelers to book hotels using an Alibaba platform, connecting the company’s loyalty programs. Both businesses saw shares rise on the news.
Tyson is doubling down on chicken. The multinational food giant reported strong quarterly results with sales rising nearly 5% to $9.85 billion. Shares shot up 5% as it announced plans to ramp up chicken production, with US meat demand expected to hit record highs this year.
Quartz obsession interlude
Alden Wicker on how multilevel-marketing companies like LuLaRoe are forcing people into debt and psychological crisis: “MLMs sell themselves using self-empowerment language and sparkly beauty products. They’re #girlboss mythology repacked for Christians and Mormons; entrepreneurialism for women brought up believing men should be the breadwinners; and a peppy dream for millennials who were told they could do anything.” Read more here.
Markets haiku
Buffett’s quandary: / Too much dough. The solution? / Some bad investments
Matters of debate
Typing is on the way out. “The next billion” (paywall) mobile users, which includes the world’s less-educated, will rely on voice, video, and images to communicate.
“Leapfrogging” is overrated. Advanced economies didn’t take shortcuts, and neither should markets in Africa.
Pet owners aren’t as kind-hearted as they think. Ethicists say ownership is a form of cruelty.
Surprising discoveries
A Welsh man turned himself in over an unflattering mugshot. He complained to police after they posted the photo on Facebook.
In San Francisco, it’s cheaper to buy a street than a house. The exclusive Presidio Terrace was auctioned off after a homeowners association failed to pay property taxes.
MIT researchers developed an algorithm that can detect sarcasm on Twitter. It’s more skilled at interpreting emotional subtext than many humans.
Cindy Sherman is on Instagram. The art world’s patron saint of selfies is taking self-portraiture to the next level.
Amazon owns at least 19 secret brands. Selling everything from lingerie to trail mix, the relentlessly growing e-commerce site is luring customers with the illusion of options.
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