Hello, Quartz members!
Tesla shareholders agreed to give Elon Musk a $45 billion pay package even as the company’s stock price has tumbled 25%, say goodbye to your homeownership dreams because the Fed’s holding rates steady, European elections gave the far-right a boost, which could spell trouble for the rest of us, — and on Friday, Donald Trump turned 78.
Here are our favorite Quartz stories from last week. Enjoying this newsletter? Let us know; we’d love to hear from you.
5 reads we liked on Quartz
🗳️Chatbot for Mayor. Victor Miller is running for mayor of Cheyenne, Wyoming, but he doesn’t really want all the hard work that comes with making decisions that might not be popular. So he said that VIC, his Virtual Integrated Citizen chatbot, will make decisions if he’s elected.
🏠Making Bank. Rocio Fabbro leads us through the decision tree on refinancing your home mortgage (if you’re lucky enough to have one). Rates may be attractive, but closing costs, the hit to your credit rating from a quick switch and other factors could affect your decision.
🍟McFlation is real. McDonald’s has doubled its menu prices over the past 10 years. Some of the biggest jumps: 168% for the McDouble burger, 138% for the iconic medium fries, and 122% for the Quarter Pounder with Cheese Meal (maybe that’s why the French call it the Cheeseburger Royale).
🪙Gold Rush Blues. We’re running out of gold — at least that’s what the World Gold Council says. Apparently there’s less of it left underground, and it’s getting harder to get financing and permits for the notoriously eco-unfriendly, cyanide-fueled mining and refining process.
💸Don’t bank on it. Elon Musk’s $45 billion payday won shareholder approval, but there’s a judge in Delaware who still has a say — and it’s not clear if she’ll give the go-ahead to the world’s richest pay package. Ever. Quartz’s William Gavin gives us a tour of Musk’s forthcoming obstacle course.
Sneak preview
As the U.S. hurries to build its own microchip industry, the CHIPS and Science Act is allocating $52 billion in grants and tax breaks to boost semiconductor manufacturing, as well as research and development. Tune in on Monday as Quartz’s own Britney Nguyen breaks down which companies are cashing in
🗓️ What to watch for this week
Here’s what our newsroom will be keeping an eye on:
Monday:
- Collision, the “Olympics of Tech” conference, opens in Toronto, with speakers including execs from Google to OnlyFans.
- Bitheads can can meet in Zurich for the World Crypto Conference.
Tuesday:
- Departing Boeing CEO Dave Calhoun testifies to a Senate subcommittee about whistleblower safety allegations and quality control at the U.S. plane maker.
- Nvidia chief Jensen Huang gives a keynote address at the Edison Electric Institute conference in Las Vegas, then gives another speech at the Hewlett Packard Enterprise Discover conference, inside The Sphere.
Wednesday:
- Juneteenth - The markets are closed, and we’re taking the day off.
Thursday:
- Delta holds its annual meeting, and on the agenda are two proposals that the company opposes: adopting a union non-interference policy and disclosing third-party political spending by groups the airline donates to.
- Accenture and Kroger report earnings before the bell.
Friday:
- The National Association of Realtors releases May existing home sales data.
Thanks for reading! Here’s to the week ahead, and don’t hesitate to reach out with questions, comments, or Big Mac gift cards. Sunday Reads was brought to you by Peter Green, Morgan Haefner, and Audrey McNamara.