Good morning, Quartz readers!
What to watch for today and over the weekend
Hollywood renegotiates its deal with China. For the first time in five years, US studios will have a chance to seek a higher percentage of box office revenues. Hollywood is betting that China will soon surpass the United States.
SpaceX launches a Falcon 9 rocket on Saturday. The mission taking off from the Kennedy Space Center in Florida will carry a Dragon supply ship to the International Space Station. The launch is scheduled for 10:01 am EST, weather permitting.
Mike Pence talks to NATO. Amid growing uncertainty about the transatlantic alliance, the US vice president will talk “about how to deepen and strengthen” NATO at the Munich Security Conference. German chancellor Angela Merkel will give an address defending international cooperation.
While you were sleeping
South Korea issued an arrest warrant for Samsung’s boss. A Seoul court approved prosecutors’ requests to detain vice chairman and heir apparent Lee Jae-yong for his role in a presidential bribery scandal. Prosecutors, whose earlier warrant request was denied will have 20 days to indict Lee.
Snap cut the valuation on its IPO. The company behind Snapchat lowered expectations, saying it will be worth $19.5-22.3 billion, well below what analysts were forecasting. Investors have expressed concerns over its untested business model, decelerating growth, and decision to give shareholders no voting rights.
Rex Tillerson and Sergei Lavrov had an awkward encounter. The US secretary of state and his Russian counterpart met at a G20 meeting in Bonn. Reporters were hastily ushered out of the room when Lavrov answered a question about the resignation of Trump advisor Michael Flynn. Tillerson said that any detente would be conditional on Russia adhering to a peace accord in Ukraine.
Trump picked a new labor secretary nominee. Alexander Acosta, who would be the only Hispanic in the cabinet if confirmed, is a Florida law school dean and former assistant attorney general for civil rights. Previous nominee Andrew Puzder removed himself from consideration in the wake of domestic violence allegations.
ISIS conducted bloody attacks in Iraq and Pakistan. The Islamic State said it was responsibile for a car bomb explosion in Baghdad that killed at least 51 people and wounded 55, the deadliest terror attack in the country this year. It also claimed a suicide bombing at a religious shrine in Pakistan, which killed at least 70 people and wounded more than 250.
Quartz obsession interlude
Alison Griswold on Facebook’s vast ambitions for job ads. “Facebook’s users include LinkedIn’s ‘thought leaders’ and white-collar professionals, but they’re also people seeking hourly positions, part-time work, and other opportunities that they’d probably find on sites like Monster, Indeed, or Craigslist long before LinkedIn.” Read more here.
Quartz markets haiku
Confidence is high
Our household debt is higher
It’s all very weird.
Matters of debate
The chaos of the industrial revolution is about to return. The rise of automation and political uncertainty could send the global economy into chaos.
The myth of the alpha male is destroying relationships. Respect and self-esteem are eroded by unequal partnerships at work and home.
AI’s most important advantage over humans is confidence. By sparring with AlphaGo, researchers are learning how an algorithm thinks.
NASA just awarded cash prizes in its “Space Poop Challenge.” The winner created a way for astronauts to change their diapers in a spacesuit.
The Bank of England is sticking with new banknotes made with of animal fat. A redesign to satisfy vegetarians was deemed too costly.
Wine for cats is making a splash. Nonalcoholic bottles with added catnip are the latest craze in humanizing animals.
A pizza mogul covered the rent for a US civil rights icon. The recently departed Little Caesars boss paid for Rosa Parks’ Detroit apartment for 11 years.
Your face is probably more primitive than a Neanderthal’s. Modern humans have changed very little over the last half million years.
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