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Here’s what you need to know
Warby Parker’s debut was a real spectacle. All eyes were on the brand’s good-looking direct listing, though don’t lose sight of the fact that the company still hasn’t seen any profit.
Evergrande reportedly missed another payment. According to Reuters, the struggling Chinese company failed to repay $47.5 million in bond interest.
United Airlines and YouTube are doubling down on vaccines. The airline is firing about 600 unvaccinated employees, while the video platform is banning all anti-vaccine misinformation.
Europe gets more women onto boards than the US. A Bloomberg survey showed that women filled nearly 37% of boardroom seats in Stoxx Europe 600 companies, which… is still a pretty underwhelming number.
Britney took a step closer to freedom. A judge in California suspended the singer’s father, Jamie Spears, from her conservatorship, while fans continue their global protests for a millionaire.
What to watch for
Politicians in Washington have been busier than usual this week tackling major questions about the US economy. Much of it comes to a head today, although the rollercoaster could continue for another few weeks if the issues aren’t resolved:
- The House of Representatives votes on a $1 trillion infrastructure bill today. (Probably.) The legislation includes billions for clean energy, trains, and high speed internet—but it doesn’t go far enough to climate-proof the electric grid.
- The federal government could shut down. Funding for federal agencies must be approved by midnight tonight, and Congress has a few options.
- Congress has until Oct. 18 to raise the debt ceiling. Here’s what happens if it doesn’t.
Global energy price spikes will get worse before they get better
The energy crunch that started in Europe is going global—and as the economy shifts away from fossil fuels, the worst could be yet to come.
⚡️ Europe’s wind farms haven’t seen a good breeze in months, and droughts in China and South America have dried up power generation from hydro dams.
⚡️ Because renewable energy sources are intermittent, you need a powerful transmission grid and a lot of large-scale batteries to transport and store electricity. But for regulatory and technological reasons, such developments are still in their infancy.
⚡️ As a result, fossil fuels will continue to supply a major portion of the global energy mix for decades to come. As investment in oil and gas production falls due to pressure from investors and governments, price spikes are inevitable.
How to take the politics out of vaccine mandates in the workplace
The idea of vaccine mandates in the workplace is less divisive than its critics would suggest. But companies may be wondering what they’re in for, watching news reports of skirmishes and hot tempers over vaccine verification systems at restaurants and grocery stores.
Here are a few things companies can do to minimize tensions:
- Share Covid-19 vaccine facts from diverse and credible sources.
- Stay focused on employee safety, and show concern for people’s health beyond their vaccination status.
- Offer or maintain incentives for getting vaccinated.
- Back workers’ rights to free speech.
Quartz at Work provides solutions for employers and employees to tackle thorny issues in the workplace. ✦ Become a Quartz member today to enjoy access to all of our content without ever hitting a paywall—get 40% off with code QZEMAIL40.
The Quartz Obsession podcast, coming Oct. 12
As a Quartz reader, you know we’re obsessed with how to best understand the global economy. Everyday objects, it turns out, offer a pretty fascinating lens. That’s what we’re exploring in audible form on The Quartz Obsession podcast. Join us each week as host Kira Bindrim talks to members of Quartz’s global newsroom about how something got here, and where it’s going next.
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What we’re reading
🧧 China is combating crypto with a push for the digital yuan. The e-currency is easy to use, while making sure Beijing stays in control.
⚖️ We made a cheat sheet to all of the antitrust cases against Big Tech in 2021. Here’s where and why regulators are gunning for Google, Amazon, Apple, and Facebook.
🗣 Therapy sessions will be free for French citizens starting in 2022. It’s part of a broader initiative to address mental health concerns.
🍽 Casual restaurants have lost the lunch crowd. A shift to working from home means weekends are a lot more important to chains like McDonald’s and Panera.
📶 Sub-Saharan Africa lags behind in mobile broadband coverage. Which is a problem, because mobile phones are the primary tool Africans use to access the internet.
😿 A Chinese city cited its Covid-zero policy to justify euthanizing three Covid-positive cats. There isn’t a clear standard for how to treat pets whose owners need to be quarantined.
Surprising discoveries
Twenty-three more species were declared extinct. Humans are to blame for the disappearance of the ivory-billed woodpecker.
A Danish artist delivered empty canvases and kept the museum’s loan… He said the work, entitled “Take the Money and Run,” makes a bigger statement.
…But a crypto miner returned a massive fee mistake. The typo initially resulted in the Ethereum miner raking in the equivalent of $24 million.
Betting, alcohol, and drugs make up the new B.A.D. ETF. Has the backlash against doing good finally arrived?
Everything is probably fine! Multiple massive meteors—so big even NASA calls them “fireballs”—were sighted over North Carolina.
Our best wishes for a productive day. Send any news, comments, definitely 100% harmless phenomena, and blank artwork 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, Tim McDonnell, Lila MacLellan, Liz Webber, and Susan Howson.