Good morning, Quartz readers!
Before legalization, the illegal marijuana market in the US was worth between $30 billion and $40 billion, putting it on par with America’s largest cash crop, corn. The legal market will almost certainly be even bigger. Quartz members this week get exclusive access to a report on the arrival of the legalized cannabis era, and how the business landscape is shaking out. You can sign up here for a 30-day free trial.
Reporter Alex Halperin in the first installment today takes you inside the gold rush to turn marijuana into an all-day, everyday product for adults—to replace their morning coffee, Advil, yoga, and whatever helps them get to sleep at night, too.
I hope you’ll take advantage of the free trial and benefit from all of this unique, in-depth work.
Best,
Kevin J. Delaney
Editor in chief, co-founder
What to watch for today
A crucial day in the US-China trade war. Beijing will mark the 40th anniversary of the economic reforms that kickstarted its historic growth. Experts say the date may be a prime opportunity for the government to recalibrate its economic relationship with the broader world, including its biggest trade partner.
A truce in the Yemeni port of Hodeida. The country’s Saudi-backed government and Houthi rebels agreed to the ceasefire last week. It may enable crucial humanitarian aid to enter.
Former US national security advisor Michael Flynn is sentenced. He will plead guilty to making false statements to the FBI, as part of his agreement to cooperate with special prosecutor Robert Mueller. On Monday, two Flynn associates were indicted on US charges of conspiring against exiled Turkish cleric Fethullah Gülen.
While you were sleeping
Internal discord reportedly derailed Google’s China search engine project. The Intercept reported that Google’s privacy team objected to a stealthy analysis of Chinese internet behavior. As a result of the clash, the China team is no longer able to access internal tools, endangering the entire Dragonfly project.
New York’s governor proposed legalizing recreational marijuana. Democrat Andrew Cuomo, long a foe of legalization, said that new tax revenue and rectifying racial injustices (subscription) would outweigh any negative effects. New York would join 10 other states and Washington, D.C. in legalizing weed, which remains illegal under federal law.
US stocks hit a new low for 2018 as Trump blasted the Fed. The S&P 500 Index fell more than 2% to hit its lowest point in 14 months (subscription), as stocks headed for their worst December since the Great Depression. Markets are bracing for another Fed interest rate hike on Wednesday, which Donald Trump called “incredible” during a Twitter broadside against the central bank.
New reports detailed Russia’s social media hacking of the US presidential election. Research commissioned by the US senate showed that internet trolls aided Donald Trump and hindered Hillary Clinton—most notably by suppressing African-American votes via memes on Instagram (subscription). The reports also accused Silicon Valley executives of giving misleading testimony.
France said it would tax internet giants after the EU failed to act. Economy minister Bruno Le Maire said the country would introduce a new tax scheme for Google and Facebook effective Jan. 1, which is projected to raise about €500 million ($570 million) in 2019.
Obsession interlude
Placebos work better than they used to. Scientists are trying to unravel this mystery, which may have to do with direct-to-consumer pharma ads. The phenomenon could actually help patient care—but it’s also making it harder to bring drugs to market. Get a spoonful of sugar with today’s Quartz Obsession.
Matters of debate
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Russia has been exploiting American racism for decades. The Kremlin has offered legitimate support and exploited racial tensions to create internal turmoil.
Goldman’s woes are mounting in Malaysia. The nation’s government wants more than $3 billion in fines, refunds, and damages for the 1MDB scandal.
China’s detention camps for Muslim are turning to forced labor. Millions of detainees are being forced to work for slave wages under the guise of “re-education.”
Surprising discoveries
Denmark has a strategic vault of every Lego ever made. The underground cavern under the company’s headquarters also happens to be run by robots.
People keep falling off cruise ships. Booze, suicide, poor labor practices, and sketchy regulations make the phenomenon difficult to track.
A delivery robot exploded in California. The fiery KiwiBot fortunately didn’t hurt anyone, though nearby university students showed an outpouring of grief.
Actual witches are mad at Donald Trump. Covens want the US president to stop calling the Mueller investigation a “witch hunt.”
Living in the year 536 was terrible. A mysterious global fog covered half of the planet for 18 months, leading to constant darkness, crop failure, and mass starvation.
Our best wishes for a productive day. Please send any news, comments, worst year nominees, and Lego vault invites to hi@qz.com. Join the next chapter of Quartz by downloading our app and becoming a member. Today’s Daily Brief was written and edited by McKinley Noble and Adam Pasick.