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
The stars align for four rocket launches. Elon Musk’s SpaceX, Jeff Bezos’s Blue Origin, and two other private space companies, Arianespace and United Launch Alliance, all have launches scheduled today. If they go as planned, it will be the most rockets to fly (subscription) on a single day.
The UK ramps up plans for a “no-deal” Brexit. Prime minister Theresa May will ask her cabinet to allocate £2 billion ($2.5 billion) from a contingency fund towards planning for a possible UK exit from the EU without a deal in March. Labour leader Jeremy Corbyn submitted a motion of no confidence (subscription) in May yesterday, after she tabled a vote on her Brexit deal to mid-January. Meanwhile, the UK economy was forecast to have its slowest growth this year and next since the last recession.
A truce in the Yemeni port of Hodeida. The country’s Saudi-backed government and Houthi rebels last week agreed to the ceasefire, which will allow crucial humanitarian aid to enter the country.
Michael Flynn is sentenced. Special counsel Robert Mueller has recommended a light sentence that avoids jail time for Donald Trump’s former national security adviser, who pleaded guilty to making false statements to the FBI a year ago. Mueller released a memo Monday night summarizing the FBI interview that ultimately led to the case against Flynn.
FedEx weighs Q2 earnings. Investors will be looking at the transport giant’s books to gauge the impact of market turmoil and US-China trade tensions. The results are also the first since the surprise retirement of FedEx president David Cunningham earlier this month.
While you were sleeping
Xi Jinping called for China to “stay the course” on its economic path. In a speech commemorating the 40th anniversary of economic reforms that kickstarted its historic growth, the Chinese president struck a defiant tone, saying “no one is in a position to dictate to the Chinese people what should or should not be done.” Experts will be watching this week to see if Beijing makes any announcements regarding the trade war with the US.
Japan more than tripled its order of F-35 fighter jets. Prime minister Shinzo Abe’s cabinet approved increasing an existing order of 42 Lockheed Martin jets (subscription) to 147, and converting two destroyers into aircraft carriers, as the country bolsters the defense of its remote islands against China. The order will make Japan the biggest customer outside the US for F-35s.
A group of nonprofits demanded change at Facebook. Thirty one civil rights groups co-signed a letter asking CEO Mark Zuckerberg and COO Sheryl Sandberg to step down from the social network’s board. The letter came the day after a report commissioned by the Senate Intelligence Committee revealed that a Russian disinformation campaign targeted specific voters in the 2016 US election, including African Americans.
New Zealand set a referendum on weed. The country’s justice minister said a binding vote will take place on marijuana legalization during the 2020 election. Polls show 76% of Kiwis back some form of legalization, which could generate up to $165 million in new taxes.
Nissan and Renault’s leaders made plans to meet. Amid tensions over the future of their alliance, Reuters cited sources saying Nissan head Hiroto Saikawa will meet one-on-one this week with Renault chief Thierry Bollore in Amsterdam for the first time since the arrest last month of former Nissan CEO Carlos Ghosn.
NGOs sued France over climate change. Charities including Greenpeace and Oxfam filed a lawsuit charging the French government for not doing enough to rein in carbon emissions. President Emmanuel Macron recently scrapped fuel tax hikes in response to weeks of “yellow vests” protests. The government has two months to respond to the lawsuit.
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
Join the conversation with the new Quartz app!
Switching to a four-day workweek could fix employee burnout. It’s also a way for workers to reap the rewards of new technologies like machine learning and automation.
The cost of college is warranted. Despite the price of higher education, the employment market is sending clear signals that going to college is worth it.
Human extinction could be good for the world. We’re destroying much of the inhabitable Earth and causing unimaginable suffering to animals.
Surprising discoveries
Jack Dorsey sent his facial hair to Azealia Banks. The Twitter CEO wanted the rapper to make a protective amulet out of his beard shavings.
A judge ordered a Missouri deer poacher to watch Bambi on repeat. He has to watch the Disney classic at least once a month during his year-long jail sentence.
Actual witches want Trump to stop saying “witch hunt.” They say the president’s comparison of the Mueller investigation to their painful history is disrespectful.
The year 536 was the worst to be alive. A mysterious global fog covered half of the planet for 18 months, leading to constant darkness, crop failure, and mass starvation.
A K-pop band brings more than $3.6 billion a year to South Korea. BTS, or Bulletproof Boy Scouts, is reportedly why one in 13 tourists visit the country each year.
Our best wishes for a productive day. Please send any news, comments, placebos, and Bambi memorabilia to hi@qz.com. Join the next chapter of Quartz by downloading our app and becoming a member. Today’s Daily Brief was written by Adam Rasmi and edited by Jackie Bischof.