Good morning, Quartz readers!
Here’s what you need to know
Lai Ching-te of Taiwan’s Democratic Progressive Party was elected president. It’s the ruling party’s third consecutive victory and will maintain the status quo, whereby the island governs itself but doesn’t formally declare independence from China.
Microsoft will offer individuals and small businesses subscriptions to its AI Copilot. The company is attempting to grow its sales beyond large corporations with the $20-a-month offer.
Africa’s largest oil refinery began production in Nigeria. The $19 billion Dangote Petroleum Refinery, which can churn out 650,000 barrels a day, aims to reduce the country’s reliance on imports.
A US company’s lunar lander will soon burn up in Earth’s atmosphere after a failed moonshot. Astrobotic Technology is working with NASA to track the lander’s path, which should end Thursday.
Primary season kicked off for the 2024 US presidential election. Republican voters will choose their nominee in the Iowa caucus, with former president Donald Trump leading in polls.
The biggest Gates Foundation budget yet
The Bill & Melinda Gates Foundation approved its largest annual budget ever, committing $8.6 billion to help plug gaps in overall aid for health programs in the world’s poorest countries.
Bill Gates and other representatives of the Gates Foundation are in Davos, Switzerland, this week for the World Economic Forum. There they will press the case for accelerating the production of health innovations that are already in the development pipeline, and making portable equipment and medicines more available in places with poor access.
To drive the point home, they’ll be wearing backpacks around Davos containing kits of life-saving products—a one-dose HPV vaccine that prevents common cervical cancers, patches that can deliver vaccines without needles, and diagnostic test strips for identifying cases of malaria, to name a few. Find more of Quartz’s Davos coverage here, and sign up for our Need to Know: Davos 2024 newsletter to have dispatches delivered straight to your inbox.
Big fast food has some sizable advertising problems
If you think the burgers and fries you pick up in the drive-thru lane don’t look like the ones in advertisements, you’re not alone. A Florida lawyer is getting at least 100 calls a month from people who want to sue the biggest names in fast food for just that reason.
Anthony Russo has taken on a handful of such cases in the past two years against McDonald’s, Wendy’s, Arby’s, Burger King, and Taco Bell for putting less meat than advertised in people’s burgers, sandwiches, and tacos (here’s just a few examples, according to customers).
The cases have garnered both high-fives and eyerolls, with some fast food patrons clamoring for meatier dishes and others dismissing such lawsuits as the epitome of pettiness. In an interview with Quartz, Russo—ever the cynic when it comes to large corporations—says not even lower inflation will change companies’ behavior.
One big number: $90 billion
JPMorgan Chase’s record net interest income—bank-speak for profit on its loans—for 2023.
That’s a record not just for JPMorgan but for any bank, ever. To put it in context, the 31st-largest bank in the US—Salt Lake City, Utah-based Zions Bank—has about that much in total assets. JPMorgan ended last year with nearly $4 trillion in its vaults.
Quartz’s most popular
🤖 AI girlfriend bots are already flooding OpenAI’s GPT store
🎓 Following review, Business Insider stands by reports on wife of ex-Harvard president’s critic
👛 The trial for Chanel’s showdown with resale platform What Goes Around Comes Around has begun
💸 How US minimum wage laws discriminate against young workers
🕊️ Is OpenAI extending an olive branch to creators and writers?
🍪 Google is killing cookies and an ad firm says Chrome users are already worth a lot less
Surprising discoveries
Even if you think your burger is smaller than you expected, Burger King wants you to feel royal. Workers are now required to offer patrons cardboard crowns and tell them “you rule.”
An Austrian business heiress wants 50 strangers to help distribute €25 million ($27 million) of her wealth. Marlene Engelhorn made that decision to fight inequality.
The US cut back on emissions last year. But not nearly fast enough to meet climate change goals.
The US Federal Highway Administration doesn’t think signs should be fun. It says references like “O-H-I-WHOA! Watch your speed!” can be distracting to drivers.
Lush vegetation in the Amazon hid an ancient lost city for thousands of years. The civilization had a sophisticated network of roads and home structures.
Did you know we have two premium weekend emails, too? One gives you analysis on the week’s news, and one provides the best reads from Quartz and elsewhere to get your week started right. Become a member or give membership as a gift!
Our best wishes for a productive day. Send any news, comments, Burger King crowns, and highway sign suggestions to talk@qz.com. Today’s Daily Brief was brought to you by Morgan Haefner.