Good morning, Quartz readers!
What to watch for today and over the weekend
D-Day for SoundCloud. The company, which recently laid off 40% of its staff, has given investors until the end of the day to provide nearly $170 million in new funding, warning that without the cash it will not be able “to continue as a going concern.”
Mike Pence visits Latin America. The US vice president will face questions about US sanctions against Venezuela as he begins a tour through Colombia, Argentina, Chile, and Panama. He is leading a surprisingly large delegation, fueling speculation about his presidential aspirations.
J.C. Penney reports second-quarter earnings. The retailer releases its figures a day after competitor Macy’s said comparable sales fell for a tenth-straight quarter, as shoppers increasingly turn to e-commerce. J.C. Penney has been trying to reduce its reliance on apparel, for example, by selling toys in its stores.
While you were sleeping
A major Uber shareholder sued Travis Kalanick. Benchmark Capital, which owns about 13% of the ride-hailing giant’s shares, accused the ousted CEO of fraud, mismanagement, and other misconduct. The VC firm is asking a court to force Kalanick off the company’s board and stop him from appointing other directors.
Donald Trump kept up the rhetoric against North Korea. The US president said Pyongyang should be “very, very nervous,” after North Korea threatened to attack the US territory of Guam. Defense secretary James Mattis, however, maintained that diplomatic efforts are achieving “results.”
Google canceled a town hall meeting. CEO Sundar Pichai was due to hold a meeting to discuss gender issues at the company following the firing of employee James Damore. Pichai called off the town hall after some employees said they were being harassed online and their details published on alt-right websites.
CNN fired a conservative commentator over a Nazi slogan. The network cut ties with pro-Trump pundit Jeffrey Lord after he tweeted “Sieg Heil!” at the head of liberal advocacy group Media Matters for America.
Quartz obsession interlude
Harish C Menon on the birth, life, and death of India’s most liveable city. “In just around 30 years, Bangalore had gone from ‘Garden City’ to ‘Garbage City’ via ‘India’s Silicon Valley.’ Today it must often grapple with something as bizarre as self-combusting foaming toxic lakes. When, why, and how did she come to this?” Read more here.
Markets haiku
VIX up and stocks down / Capital rushes to gold / All as it should be
Matters of debate
Rwanda’s economic miracle may be a mirage. An analysis of household data suggests the government may have greatly exaggerated its growth.
The TV advertising apocalypse is nigh. Disney’s forthcoming streaming service spells doom for a $40 billion industry.
The Google anti-diversity memo is scientifically unsound. And it misrepresents the nature/nurture debate to advance an alt-right agenda.
Surprising discoveries
MIT scientists made jewelry that crawls around your body. “Kino” broaches use tiny magnetic robots to perform practical tasks, like removing one’s hood.
Biohackers created molecular malware. They’re able to infect computers by encoding malicious software into strands of DNA, unleashed once decoded by gene-sequencing software.
Fewer than 20 female rappers have hit the top 20 since 2000. Only 12% of charted rappers or rap acts have been women in the past 17 years.
It’s the end of the road for India’s stenographers. Some 3,500 institutes that teach typewriting in Maharastra state will hold their final manual typing exams today.
A German man swims to work to avoid traffic. Benjamin David stashes his laptop in a waterproof bag and swims for 12 minutes through Munich’s Isar River.
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