Hello, Quartz members, and welcome to Sunday Reads!
This is the week that will be forever remembered for the presidential campaign debate where two codgers argued about golf handicaps while the planet burned and America’s democracy was at stake. But it’s Sunday, and time to shift your gaze to some hand-selected reads. Here are our favorite Quartz stories from the week, plus one preview for next week to get your day started.
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5 things we especially liked on Quartz
🚢 The cruise business is cruuuuuising: Forget the days when cruise ships were COVID incubators, and vacationers avoided them like the Titanic. Business is up at the world’s big cruise lines, as passengers flock back to the floating hotels with their endless buffets and postage-stamp-sized swimming pools, Quartz’s Melvin Backman reports. Royal Caribbean says its net income is up almost $500 million to $92 million, from a $407 million loss at the same time last year.
📝 Uh oh: If you’re writing this, AI is coming for your job, Quartz’s Laura Bratton reports. In the eight months after ChatGPT was released, a Harvard study found that online freelance jobs prone to automation related to writing and coding declined 21%. And such jobs will only continue to decline in demand, the study’s authors wrote.
💰 Trust funds: The kids of the rich are just gonna keep getting richer, Rocio Fabbro reports. More than one million individuals worth more than $5 million are expected to transfer almost $31 trillion to their heirs by 2033, according to a recent report by data firm Altrata.
🚗 Tesla’s scary numbers: When it comes to all things Tesla, Quartz’s William Gavin has you covered. Start with the mystery of how many Cybertrucks have been sold to the world’s Musketeers. Tesla hasn’t been talking, but a recall for windshield wiper motors gives us the number: 11,688 units of the Cybertruck. Tesla shareholders are bracing for bad news next week when the electric carmaker is expected to announce its latest quarterly deliveries.
🍟 Cheap eats: McDonald’s $5 meal wasn’t born out of thin air. In fact, price hikes at the House of Ronald were pushing consumers away, and the bosses at Mickey D’s needed a way to draw in the lower-income, lower-spending diners that it depends on. Quartz’s Francisco Velasquez has the inside story on how the chain test-drove the concept for the past year in a small region of upstate New York
1 sneak peek
Bit is back: Bitcoin made a big comeback to start 2024. Will it hit $100,000 this year? Rising from the ashes to the sky, cryptocurrency is set for gains in the second half of 2024. As inflation has cooled and tech stocks have soared, the crypto market has also followed suit. Quartz’s Vinamrata Chaturvedi will look at how the intersection of cryptocurrency and traditional financial markets will continue to expand this year. Visit qz.com on Monday morning for the story.
What to watch for this week:
🗓️ Here’s what our newsroom will be keeping an eye on:
- Monday: Census bureau releases construction spending data.
- Tuesday: Tesla is expected to report Q2 deliveries. The EV company has had unsold cars piling up in parking lots.
- Wednesday: Leading beer, wine, and spirits producer Constellation Brands reports earnings before the bell. The results could point to what alcohol Americans are imbibing most. The Fed also releases the minutes of June’s Open Market Committee.
- Thursday: Markets are closed. Take the day off and celebrate freedom.
- Friday: Amazon was founded on this day in 1994, and Jeff Bezos’ now 30-year-old company hit the $2 trillion market cap mark for the first time last week.
Thanks for reading! Here’s to the week ahead, and don’t hesitate to reach out with comments, questions, feedback, joy, or tips on how to become a billionaire heir. Sunday Reads was brought to you by Peter S. Green, Morgan Haefner and Audrey McNamara.