Good morning, Quartz readers!
Here’s what you need to know
It’s election day in the US. Although nearly 100 million people have already voted, there still might not be a clear winner tonight. Social media platforms say they will—for better or worse—be on the hunt for misinformation, and physical retailers are bracing for the worst. Meanwhile, it’s ok to look at the New York Times’ election needle.
A manhunt is under way in Austria after a multiple shooting. At least four people were killed and 17 more were injured in a coordinated attack on six locations in Vienna last night, near the city’s main synagogue. The police killed one suspect, a 20-year-old who had previously been convicted of trying to join the militant Islamic State group in Syria.
Chinese regulators told Jack Ma who’s in charge. Ant Group’s controlling shareholder attended the surprisingly public meeting with four regulatory bodies to discuss the importance of financial stability, prompting China’s internet to coin a new “proverb” hinting at regulatory hurdles ahead. Thursday’s IPO is expected to raise over $30 billion, valuing the firm at over $300 billion.
No more suits. German fashion house Hugo Boss is shifting its focus to casual style as it tries to revive its online business and Chinese operations. “We have a lot more to offer than the classical suit,” said CEO Yves Mueller. Meanwhile, British retailer Primark is also seeing weak demand for formal clothing, while pajamas and leisurewear are doing better.
What’s at stake?
There are several ways today’s presidential election could go, but behind the vote lie policies that will shape the country and the world for the next four years and beyond. Here’s what we want to know:
📞 Are all these polls worth the effort? The experience of American elections has arguably become more stressful thanks to the proliferation of polls, but the alternative would be much worse.
👩⚖️ What’s going on with Obamacare? The Affordable Care Act’s constitutionality is set to be argued before the Supreme Court in two weeks. If the high court strikes it down, a future president Biden would have a few options.
💰 What’s the smaller picture? The US economy grew a lot in the third quarter, but personal income dropped, highlighting the challenging financial situation for millions of Americans ahead of the election.
Charting stimulus plans
If a stimulus check isn’t spent, is it still a stimulus check? There is no doubt a second round would be incredibly helpful for millions of struggling and unemployed Americans. But how much would it boost overall consumer spending, the key driver of the US economy? New research from the New York Federal Reserve shows more than 70% of a potential $1,500 second payment would be saved or put towards debt payments rather than buying goods. Quartz looks at the data.
STILL CHARMED
The Donald Trump administration has been extremely hard on the H-1B visa, which allows highly skilled professionals to live and work in the US for up to six years.
But data show that despite the clampdown, the H-1B’s charms remain. Approximately 275,000 H-1B applications were filed for the 2021 fiscal year—the highest number in 15 years—despite only 85,000 visas being available.
To understand why the visa is still so appealing to workers across the world, read our latest field guide on the status of the H-1B.
✦ Celebrate our 100th field guide by diving into the archive. You’ll need a Quartz membership, but lucky you, it’s 20% off the first year, with code QZTWENTY.
We’re obsessed with flying cars
Where we’re going we don’t need roads. For as long as there have been planes and automobiles, people have been hoping to hitch a ride to the future in a flying car. But the idea has always run up against technological struggles, regulatory issues, and money problems. Now, inventors are trying to get cars in the sky once again, this time with the hope of reducing traffic on the ground and making transportation greener in the process. The Quartz Weekly Obsession wants what we were promised.
Surprising discoveries
The power of spinach. Researchers have converted the leafy green into carbon nanosheets to catalyze key reactions in fuel cells and metal-air batteries.
A whale tail bailed out a train fail… The polyester sculpture of whale flukes stopped a Rotterdam metro train from crashing into the water below.
.. while the Sri Lankan navy and some villagers saved 100 whales. They were stranded on a beach on the island’s southwest coast.
A clever prank can be enjoyed hundreds of years later… Like the medieval stone selfie a 12th-century mason carved into a Galician cathedral.
…but there’s a time and place for them. Two women trying to pull off a mildly funny jape for their YouTube channel ended up delaying their flight by three hours.
Our best wishes for a productive day. Please send any news, comments, whale heroism, and Popeye’s can to hi@qz.com. Get the most out of Quartz by downloading our iOS app and becoming a member. Today’s Daily Brief was brought to you by Hasit Shah, Jackie Bischof, and Max Lockie.