🌎 Default averted

Plus: The last of the Yeezys
🌎 Default averted

Good morning, Quartz readers!


Here’s what you need to know

The US is one signature away from averting a debt crisis. The Fiscal Responsibility Act, which includes measures such as changing eligibility for food aid, passed the Senate and awaits a presidential signature.

Elon Musk faced new accusations of dogecoin insider trading. Cryptocurrency investors took issue with the temporary change of the Twitter logo with that of the dogecoin symbol, Shiba Inu.

The first challenge in regulating AI is to define it. One expert proposes a simple solution: focus on the output.

Meta is calling workers back to the office. The tech giant is setting limits on remote working, requiring at least three days a week in the office.


Where LGBTQ+ workers in the US lack legal protections

Image for article titled 🌎 Default averted
Graphic: Julia Malleck

Despite an increasing focus on diversity, equity, and inclusion initiatives, many LGBTQ+ employees don’t feel comfortable being “out” at work. Read the full story here.


Every boss and their briefcase is going to China

China is back on global leaders’ map, and it’s not so much a question of who is taking advantage of the nation’s wider, post-zero-covid doors as who isn’t.

These CEOs have paid China a visit in the past two months—or are planning to this month:

🚘🚀✖️Tesla-SpaceX-X CEO Elon Musk
🏦 JPMorgan’s Jamie Dimon
☕ Starbucks’ Laxman Narasimhan
🚗 GM’s Mary Barra
🍎 Tim Cook of Apple
💊 Pfizer’s Albert Bourla
💄 LVMH’s Bernard Arnault

Read more about Bernard Arnault’s upcoming visit in particular, and why he’s trying to boost sales in the already-luxury-obsessed Chinese market.


Adidas is selling its last Yeezys to loyalists

Shoppers! Get your hands on (and feet into) the remaining Yeezy inventory! The shoes, which are a result of the brand’s now abandoned collab with the rapper Ye, formerly known as Kanye, can be yours—but only if you’re willing to have your loyalty to the German sportswear brand tested.

Adidas kicked off sales of its remaining Yeezy inventory yesterday on its Confirmed app. The shoes are available to customers that sign up for the adiClub membership and enter a drawing to make a purchase. Read more about Adidas’s strategy to offload the footwear and how it plans to use some of the earnings from its last Yeezy stock.


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🌈 Pride month forces a reckoning for companies courting the pink dollar

What makes Nvidia’s chips so special during this AI boom?


Surprising discoveries

London, you’re getting a new gala… Vogue’s Anna Wintour is hoping to counteract budget cuts for the UK’s art scene with a fashion blowout.

… and it may not even rain! The UK capital’s famously wet weather is a lot less wet than it used to be, and the water network isn’t built for it.

But coconut water is expanding its own network. Vita Coco hopes so anyway, as it pushes bars and clubs to mix its coconut products into cocktails.

A DC homeowner’s giant Transformer statues aren’t going over well with his Georgetown neighbors. Tourists, however, are thrilled.

Some companies are experimenting with ketamine retreats to help employees find balance. Surely there are easier ways to make work less stressful.


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