Tesla moves to Texas

Tesla moves to Texas

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Here’s what you need to know

Tesla is moving its HQ to Texas. Founder and CEO Elon Musk made the announcement at the company’s annual shareholders’ meeting in Austin.

The US avoided default—for now. US lawmakers reached an agreement to extend the national debt ceiling until early December.

Ireland is dropping its 12.5% tax rate. After enticing companies like Google and Facebook to Dublin, the policy ends as part of an OECD agreement setting the global rate at 15%, expected to be announced today.

Samsung saw its biggest profits in three years. The South Korean company attributed a 28% rise in third-quarter operating profit to rising chip prices and sales of new smartphones.

The Saudi sovereign wealth fund bought an English Premier League soccer team. All sides insist the new owners of Newcastle United are “separate” from the Saudi state.

What to watch for

Journalists Maria Ressa and Dmitry Muratov jointly won the Nobel peace prize “for their efforts to safeguard freedom of expression,” the committee said.

Ressa is from the Philippines, and receives the award for exposing “abuse of power, use of violence, and growing authoritarianism” there. Muratov is Russian, and is honored for maintaining independent journalism despite “killings and threats.”

This week’s other Nobel prize-winners:

✍️ Literature: Zanzibar-born novelist Abdulrazak Gurnah’s writing explores identity, displacement, and loss under east Africa’s complex colonial history

⚗️ Chemistry: Benjamin List and David MacMillan’s work makes drug manufacturing safer and more efficient.

🩺 Medicine and physiology: David Julius and Ardem Patapoutian’s research used hot peppers to understand more about how humans sense pain, which could lead to groundbreaking chronic pain treatments.

⚛️ Physics: The efforts of Syukuro Manabe, Klaus Hasselmann, and Giorgio Parisi have all upheld grim truths about climate change.

Star Trek nostalgia is a distraction from Blue Origin’s ambitions

TJ Miller and William Shatner Blue Origin
Image: Reuters/Mario Anzuoni

Last week, former Blue Origin director of internal communications Alexandra Abrams revealed the company’s sexist, excessively demanding culture in an open letter. The Federal Aviation Administration has opened an investigation ahead of Jeff Bezos’s company’s next suborbital space tourism mission, expected Oct. 12.

The headline passenger? None other than William Shatner, who so famously portrayed Star Trek’s Captain Kirk.

“Every space company faces a Trek temptation,” says Quartz’s Tim Fernholz. Especially with suborbital tourism, which is an entertainment product whose target consumer appears to be wealthy, male Star Trek fans.

But, as Tim says, “part of the problem is that science fiction only starts getting interesting once you leave the science behind.” Blue Origin may seem to be aligned with the technology aspect, but Abrams’s letter suggests it’s ignoring the show’s humanity.

For more from Tim, sign up for our free weekly Space Business newsletter.

A DTC unicorn goes public

Warby Parker is one of the latest entrants to the IPO club—it debuted on the New York Stock Exchange last week—and its stock has so far held steady, opening at $54 a share on Sept. 29 and closing at $50 yesterday.

But Warby Parker lost $55.9 million on $393.7 million in revenue last year, and the company’s vulnerabilities include everything from potential supply chain snafus to a bet on brick-and-mortar stores as an engine for growth.

>145: Warby Parker retail stores in the US and Canada

~3,000: Warby Parker employees

$536 million: Total funding raised

95%: Net revenue from eyeglasses sales in 2020

1%: The company’s US market share by net revenue

Our latest Company email brings Warby Parker’s IPO into focus.

✦ The weekly Company email, exclusive to Quartz members, will make sure you’ve got 20-20 vision when it comes to the movers and shakers of the business world. Get 40% off a Quartz membership with code QZEMAIL40.

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Surprising discoveries

We all learned the wrong date for the fall of Rome. The empire hummed along quite nicely for decades after 476.

We were also wrong about the timing of the moon’s death. Samples returned by China’s Chang’e 5 indicate our satellite’s volcanoes were active for much longer than we thought.

The cars used in Bond films can sell for 1,000% more than their list price. Collectors pay a hefty premium for the vehicles of 007.

A man sued his psychic for falsely claiming she could remove an ex-girlfriend’s curse. The heartbroken husband was told it would save his marriage.

The largest Lego set ever released is a 4.5-foot (1.4-meter) long model of the Titanic. It has 9,090 pieces—but still not enough lifeboats.

Our best wishes for a productive day. Send any news, comments, history book corrections, and your favorite Lego set 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, Sarah Todd, Morgan Haefner, Susan Howson, and Liz Webber.