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Here’s what you need to know
The White House winds down its coronavirus task force. The team will be phased out later this month as some US states ease lockdowns. Meanwhile, Donald Trump toured a face-mask factory (without wearing one) and said businesses need to get back to work.
California is taking Uber and Lyft to court. The state and some of its largest cities said the ride sharing companies are violating a new law that requires drivers be labelled employees rather than contractors.
A former US official is now a whistleblower. Rick Bright said the White House failed to prepare for the pandemic, and then pushed an unproven anti-malarial drug on Americans. He accused the administration of removing him after speaking up.
The Trump administration wants to mine the Moon. Reuters reports that officials drafted detailed plans—called the “Artemis Accords”—that allows businesses to own any resources they might extract there.
The New York primary is back on. A judge ruled that scrapping the June vote would be unconstitutional and strip Bernie Sanders and Andrew Yang of state representation at this summer’s Democratic convention.
Corporate update
The pandemic has offered lots of pain, but also some gain, this earnings season. Here’s a peek:
- 🎢 Disney posted a $1.4 billion loss in the first quarter, with most of the hit coming from its closed parks, but also because live sports aren’t airing on its ESPN cable channel.
- 🎮 Activision and Electronic Arts reported strong results, as lockdown living steered more people to games like Call of Duty and FIFA.
- 🏨 Airbnb is laying off about 1,900 people, or one quarter of its workforce, as the tourism industry comes to a standstill.
- 🌿 Beyond Meat posted slightly slower, but still impressive growth in revenue in the first quarter, as it shifted its focus from restaurants to supermarkets.
- 🍸 Liquor companies are suffering with bars and clubs closed, but liquor stores are doing just fine, with sales up by half in the US and a third in the UK.
- 💌 Match, the dating app juggernaut that owns Tinder, said chatting surged in its products in the first quarter, but that its business will take a hit as people can’t go out for dates.
Charting retail spending
This pandemic is drastically changing what Americans are purchasing. Each month, the US Census Bureau estimates how much money was spent at different types of retailers. The data show that spending at car dealers, restaurants, gas stations, and clothing stores dropped precipitously in March compared to the same month last year. These types of retailers are almost certain to struggle for many more months, as some Americans try to maintain social distancing.
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- Will the US government coronavirus bailouts break politics? With a price tag that is already higher than the 2008 recession rescue package, the reverberations from this pandemic could remake the political playing field.
- What do shoppers want from companies now? The Covid-19 crisis has upended the concept of customer loyalty, with businesses coming around to the notion that if they want to sustain a long-term relationship, it’s companies that need to be loyal right now.
- Why do schools put kids through the torture of group work? Because it matters. Group work is very important for 78% of US jobs and the most valuable players often share this key trait.
We’re obsessed with knitting
The art of tying knots. Long regarded as quintessential women’s work, this stereotype has made knitting a cover for, or subject of, subversion. The subterfuge entwined with knitting dates back at least as far as the American Revolution—making it perhaps the craftiest craft. Get yourself in stitches with the Quartz Daily Obsession.
Surprising discoveries
Interior designers are pivoting to Animal Crossing. Players can hire consultants for $50 an hour to design their virtual homes.
Ancient horned frogs once hopped all the way across Antarctica. They lived in a time when some continents were one massive landmass called Gondwana.
The remains of a Bronze Age chieftain were found beneath a skate park in England. His was one of two skeletons excavated at the site.
Salesforce is using AI to identify the ideal tax system. The business software company wants to make “tax policy less political and more data driven.”
Tom Cruise was tapped to film a movie in space. The actor will work with NASA and possibly SpaceX.
You asked about real estate
What will happen to residential home values after the lockdown. – Hans
Whether you’re an empty-nester looking to sell or a millennial considering a first home, this is a question on many minds. For sellers, despite a US economy that is projected to plunge at a 40% annualized rate during the current quarter, the median home price rose 8% year-over-year to $280,600 in March. That’s in large part due to a shrinking housing supply that will be exacerbated by a pandemic pause in new home construction.
If you’re a buyer looking for a silver lining, construction has been one of the first sectors to resume as economies reopen. Even in hard-hit New York City, nearly 5,000 construction projects have been allowed to continue during the lockdown. In fact, some high-profile developments are already offering hefty coronavirus discounts.
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Our best wishes for a productive day. Please send any news, comments, chieftain skeletons, and horned frog fossils to hi@qz.com. Get the most out of Quartz by downloading our app on iOS or Android and becoming a member. Today’s Daily Brief was brought to you by Adam Rasmi and Luiz Romero.