Good morning, Quartz readers!
HERE’S WHAT YOU NEED TO KNOW
Alphabet stock had a nice Tuesday. The company is touting a breakthrough in its quantum AI computer chip development efforts.
The global airline industry expects to ferry 5.2 billion passengers next year. It is also forecasting a record $1 trillion in revenue.
The Goop gift guide includes a $3,900 home infrared sauna. There are other outrageous entries in the lifestyle site’s shopping list.
Microsoft investors don’t want to invest in Bitcoin. They voted against adding the cryptocurrency to the company’s balance sheet.
Streaming accounted for 42% of TV viewing in November. Take a look at the platforms that attracted the most eyeballs.
The golden rules of crypto
Cryptocurrency is an exciting asset class right now because a lot of the coins in its realm have gotten a lot more valuable this year. But investors should be careful before diving into the marketplace.
It’s important to learn the basics of how cryptocurrencies work and exercise prudence when putting money behind them. Plus, there are ways to invest in crypto without actually holding crypto.
What are some more golden rules of cryptocurrency investing? Quartz’s Vinamrata Chaturvedi has a few other tricks of the trade in mind.
Citi wants a pat on the back
Citigroup undertook a massive reorganization last year in a bid to improve its business. Those efforts are now paying fruit, and the company wants people to take notice.
As part of that shakeup, it fired 7,000 people in order to save an estimated $2.5 billion a year in expenses. CFO Mark Mason said that Citi “will start to see a little bit of benefit from the transformation investments” as soon as next year.
Just how much will Citi gain from its pain? Quartz’s Rocio Fabbro gives an update on the bank’s transformation.
MORE FROM QUARTZ
🛩️ Alaska Airlines launched a plan to grow profits by $1 billion
🔋 Stellantis is teaming up with Chinese giant CATL on a $4.3 billion EV battery plant
🎅 Zillow is showcasing a $1.2 million North Pole home for Christmas
⚠️ The CFO of Goldman Sachs thinks geopolitics and cybersecurity are major market risks
⚡ These are the states with the highest winter energy bills
💊 Walgreens is in talks to be taken private
SURPRISING DISCOVERIES
Young people get anxious when they receive a “call me” text message. They’re scared that it means they’ll be getting bad news. (paywall)
Etsy wants to be more like Depop. Depop’s CEO is joining Etsy as its president and “chief growth officer.”
Somebody really, really wanted Dorothy’s slippers from The Wizard of Oz. They sold for $28 million at auction after an estimate said bidding would top out at $3 million.
There’s a location data firm that uses doctor’s office visits to help police track people down. Fog Data Science pitches the ability to lots of law enforcement groups. (paywall)
The global art market is becoming more opaque. European privacy rules and expanding auction house confidentiality practices are making it harder to track market moves and players.
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Our best wishes on a safe start to the day. Send any news or comments to talk@qz.com. Today’s Daily Brief was brought to you by Melvin Backman and Audrey McNamara.