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Fox Cities Chamber to shape programs and resources based on small business survey
Marketing visibility tops concerns for Fox Cities small businesses, according to a recent survey.
Amazon Researcher Claims Quantum Algorithm Could Challenge PQC Foundations
The Quantum Insider (TQI) is the leading online resource dedicated exclusively to Quantum Computing.
Google's AI told people Flock cameras were full of gold. They weren't.
The story starts with a meme: privacy advocates joking online that Flock's surveillance cameras are secretly loaded with valuable metals, worth cracking open for scrap. AI Overviews...
Your guide to entertainment in South Jersey this August
Looking for live music this August? Here are this month's concerts and entertainment in South Jersey.
IRS expands Business Tax Accounts
The Internal Revenue Service is giving organizations more ways to view digital notices, make payments, and access and manage federal tax account info online.
Science Explains Why Working Out with Friends Feels Easier
Your workout buddies change how you experience fatigue—and in the process, your friendships grow stronger.
Franklin & Marshall\'s new course blends science and beer
Faculty members and staff at Franklin & Marshall College didn’t just gather to drink beer during a tasting event Tuesday afternoon. They were also grading science.
Celebrity culture is one thing. For TMZ, Congress is the new 'reality show'
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PHOTO: Taking care of business on the farm
Click here to view this article from TheDailyNewsOnline.com.
City warns retailers to stop selling illegal e-bikes
The mayor put companies on notice Wednesday, sending cease-and-desist letters to over 40 online retailers.
Woodfin Business Association seeks to improve the town’s visibility
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Sanofi suspends chronic lung disease phase 2 study, tied to ‘strategic business reasons’
Sanofi halted a phase 2 trial testing a monoclonal antibody, SAR445399, in non-cystic fibrosis bronchiectasis, Fierce Biotech has learned. The trial, which began only back in April, was a randomized, double-blind, placebo-controlled study to measure the reduction in mucus plug score following treatment with SAR445399 compared with placebo in adults aged 18 to 80 years with NCFB, a chronic lung disease. The trial was officially reported as halted on July 29, the day before Sanofi’s second-quarter earnings call. The decision to pause the trial was made “as part of a company-wide portfolio review for strategic business reasons,” and not due to safety concerns, a Sanofi spokesperson told Fierce. The move to pause the NCFB trial comes during a trying time for Sanofi following a year filled with a series of trial fails. In February, the French pharma ousted CEO Paul Hudson and appointed Merck KGaA leader Belén Garijo, M.D., Ph.D., to steer the ship. Since then, Garijo has been doing a deep dive on correcting the company’s strewn R&D and clinical strategies. On July 24, Sanofi scrapped amlitelimab for atopic dermatitis, despite its lore as being a potential $5 billion blockbuster. During its second-quarter report, the company abandoned two more assets, balinatunfib and itepekimab, following failed trial results in psoriasis and chronic obstructive pulmonary disease, respectively. SAR445399, only first revealed by Sanofi in 2023, is an anti-interleukin-1 receptor 3 monoclonal antibody developed to block the interleukin 1, 33, and 36 cytokine pathways. These pathways can be important in chronic immune-related dermatologic diseases, such as atopic dermatitis and hidradenitis suppurativa, as well as respiratory conditions, such as NCFB. Related Sanofi’s new CEO ‘looking deeply’ at late-stage pipeline as clinical clearout continues NCFB affects roughly half a million people in the U.S., with a global incidence of greater than one million cases. In August 2025, Insmed received FDA approval for Brinsupri, a DPP1 inhibitor targeting neutrophil activation, for treatment of NCFB in adults and kids ages 12 and older. The British biotech Infex Therapeutics showed promising NCFB phase 2a data using their monoclonal antibody, INFEX702, which acts by disabling Pseudomonas aeruginosa, a bacteria known to be a major pathogen of NCFB. Sanofi is currently running a separate phase 2 study testing SAR445399 as a potential treatment for the inflammatory skin condition hidradenitis suppurativa.
Nothing is using AI-generated people to show off its new earbuds
Yesterday Nothing’s CMF brand launched a new pair of pretty cool open-ear earbuds, but a big part of the online...
Why Flutter Entertainment (FLUT) Shares Are Trading Lower Today
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Pixel Watch 5 leaked marketing images surface one week before launch
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UNC Health says new scheduling system won’t pay nurses less. Why it has critics.
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Conservative groups sue to stop online sports betting in Wisconsin
A lawsuit from conservative groups claims Wisconsin's new online sports betting law is unconstitutional and must be struck down.
Chartbook 464 The"China squeeze" - the politics of development counterfactuals.
There are three types of China shock discourse. Each has a distinct temporal register. China shock 1.0 was a phrase coined by US academics in the 2010s to retrospectively summarize the impact on particular US labour markets, which they identified through painstaking empirical investigation. China shock 2.0 on everyone’s lips in Europe in the mid 2020s is an alarm raised by trans-Atlantic policy thinkers warning of a coming disaster which they project onto Europe’s ailing car industry. The third type of China shock discourse - commonly known as the “China squeeze” launched most recently by Indian economists Shoumitro Chatterjee and Arvind Subramanian in the pages of Foreign Affairs - mobilizes a different, more speculative temporal register: the counterfactual realm of alternate history. The China squeeze argument asks not what has happened, or what is going to happen, but what might have been. Specifically, what options for economic development might have been open to Global South economies like India or the economies of sub-Saharan Africa, had it not been for China’s spectacular industrialization since the late 1990s and the persistent competitiveness of China’s manufacture in low-skilled segments. Chatterjee and Subramanian’s argument is that whilst China has built a powerful position in electrical machinery and other high-skill manufacturing, which is now delivering China Shock 2.0, it also continues to run a trade surplus in low-skill, labour-intensive manufacturing. This surplus is large and has remained largely unchanged in fifteen years. Indeed, in the 2010s, in trade with low-income countries, China’s surplus rapidly increased. On their reading, this squeezes low-income producers in low-skill sectors in which they “should” be able to compete. Source: “China’s Mercantilist Squeeze on Developing Countries” Shoumitro Chatterjee and Arvind Subramanian. Peterson Institute for International Economics 26-7 May 2026 Chatterjee and Subramanian’s wording is telling: (emphasis mine) The canonical trajectory of economic development in the post-World War II period is for countries to transition from agriculture to manufacturing, first in low-skilled manufacturing and then later on to high-skill manufacturing (Herrendorf, Rogerson, and Valentinyi 2013). At the global level, this implies that high-income countries (HICs) that once specialized in low-skilled activities cede manufacturing export space to poorer countries that come along to occupy that space. In 1965, advanced economies accounted for about 60 percent of global value-added exports in four key low-skilled manufacturing sectors, i.e., apparel, leather, textiles, and footwear. Over time this share declined and began to be occupied first by the East Asian tigers and, beginning in the late 1990s, by China. Today China accounts for about 50 percent of the global market. The question is whether China, with its rising prosperity, is continuing to behave like its richer counterparts and ceding export space to poorer followers or to behave unlike them and continuing to occupy space. In terms of the conceptual maneuvers it performs, of the three China shock discourses, the “China squeeze” argument is by far the most ambitious. After all, it bases its critique of China on a counterfactual imagining of the world. Like any counterfactual argument, to construct this alternative reality it must rely on a heuristic model. To make their argument Chatterjee and Subramanian mobilize two key claims. The first reference point is the actual history of rich-country industrialization, what they refer to as the “canonical path”. The idea is that countries transition from agriculture to light industry and low-skilled manufacturing and from there up the value chain. To make this useful as a standard of comparison and a means to construct a normative standard, they adjust sectoral export shares for two factors: 1. the underlying level of economic development of the exporting country, as measured by national income and 2. the degree to which the sector in question is internationalized. The idea being that for a high income country to have a high export share in low-skill sectors is anomalous and even more so if that particular product is highly internationalized and thus suitable for being “conceded” to lower-income competitors. Where should this process end? Here Chatterjee and Subramanian introduce their second benchmark. Their normative idea of a global development path is one in which, in due course, low-skill manufacturing exports are distributed in proportion to a country’s share in the global labour force. They imagine, in other words, a world of proportional, polycentric global development without much national specialization in low-skill manufacturing. A useful benchmark is that, in labor-intensive manufacturing sectors, a country’s share of world exports should be broadly commensurate with its share of the world’s low-skilled labor endowment. … In the Heckscher-Ohlin model, this would be true if value added per worker and export propensities, i.e., fraction of output that is exported, are the same across countries. It is this pleasant liberal vista of orderly global development, progressing towards a general distribution of low-skilled manufacturing against which they judge reality and conclude that the low-income countries are suffering a “China squeeze”. China is not exiting low-skill sectors fast enough Allowing for its gdp level and the degree of globalization, China’s share of low-skill manufacturing exports is far higher than it “should” be. Relative to population, its low-skill share of exports is far too high. That in turn yields the conclusion that huge numbers of jobs - the authors suggest tens of millions - are being hoarded by China. For the four sectors captured in figure 4, this excess in value-added exports is $110 billion in 2022. For all low-skilled sectors overall captured in appendix figure D.1, excess value-added exports amount to $365 billion. The crowding out of LMIC exports by China is therefore substantial. Both these claims have in common that they are strong structuralisms. The first is that development paths ought to resemble each other. The second is that broadly speaking as far as low-skilled manufacturing is concerned, all countries are alike. If the world currently diverges from the distribution of trade implied by these assumptions, if China is not following the advanced economy path and has huge exports, this must be the result of “policy”, which the authors then put in question as illegitimate or unfair. Thus the naturalistic construction of a canonical path leading to a “level” distribution of low-skilled manufacturing reveals itself to be a polemical tool. From the point of view of China shock polemics, this discourse is no doubt welcome. But as an account of economic history, it must surely be regarded as nothing short of bamboozling. Development paths do not follow a regular, natural sequence. As David Fishman put it aptly, “development is not a queue”. They are always and everywhere, through and through political. Development is not so much a process, as a project. Each such project is more or less well adjusted to its context. As Gerschenkron taught uneven and combined development implies differentiation rather than simple imitation on a single parth. It may be true that Europe and the US exited relatively early from low-skill work. But clearly technology has changed. As C&S themselves point out, China no longer enjoys a low wage environment. Do they really believe that such huge differences can be accounted for either by industrial policy, which as they admit does not operate powerfully in low-skill sectors, or by exchange rate manipulation? What is overwhelmingly dominant in explaining the persistence of “low-skill” manufacturing in China are surely the network effects of complex supply chains. Indeed the label of “low-skill” may miss the point. The degree of globalization which Chatterjee and Subramanian decide to conjure away in their model of the development path - to allow for the fact that Europe and American textiles exporters did not enjoy just-in-time logistics in the 1950s - obscures the point that the networks through which Chinese factories supply the world are themselves key parts of the low-skill industrialization project. China isn’t knocking out 1970s style “cheap”. It has redefined the entire product cycle. C&S’s casual reference to “T-shirts” is telling. In today’s “fast fashion”, there is weight on both terms. Fashion and fast. China’s success in delivering on both at unprecedentedly high speed and at unprecedentedly low cost, isn’t a low-skill operation at all. If we see development trajectories not as the serial repetition of the same, but as distinctive, crafted projects that cumulate in complex agglomerations of skill, technology and labor, then this explains why the assumption that low-skilled manufacturing should follow the distribution of population flies in the face of all experience. As countless cases attest, low-wage, low-income developed economies are not by themselves the makings of a competitive production base. As Leon Liao puts it quite fairly: “International trade has never been allocated according to population. A country’s population gives it no natural claim to an equivalent share of global exports." And the remarkable fact is that Subramanian alone and with co-authors has long been making this point, not to pillory China, as is the case of the tendentious _Foreign Affair_s and Peterson pieces, but to highlight the great counterpart to China’s industrial success, namely India’s relative failure. The much-quoted Foreign Affairs piece showed low-skill export shares only for China, not for India. If you put both countries in the picture as Chaterjee and Subramanian have done on other occasions, the picture looks like this. China is far above the line, but India, almost as large in terms of population, is no less anomalous, just in the opposite direction. As far as global populations are concerned, and the imagining of tens of millions of “squeezed” jobs, it is this Sino-Indian pair that account for a huge share of the action. What this graph reveals is not China’s cheating, but India’s “greatest development failure”, at least this is the argument made Arvind Subramanian, this time in co-authorship with Devesh Kapur, in their major book, A Sixth of Humanity. Independent India’s Development Odyssey which appeared with Oxford University Press earlier this year. In this highly critical work on India’s development, China is repeatedly evoked, not to criticize but as a benchmark against which to illuminate what India’s political economy has not delivered i.e. large-scale formal employment for hundreds of millions of citizens. Kapur and Subramanian leave no doubt, if you want to understand why China, not India was the main driver of manufacturing globalization from the 1980s, don’t look to slots opening up in the division of labour thanks to the liberal mindedness of advanced economies, look to the contrasting political economy of the Maoist PRC and India’s post-independence political economy. As Kapur and Subramian note: The great divergence between China and India did not begin in 1978 with the Deng reforms—it was well underway by then. In one of the great ironies of modern history, the conditions created by Maoism turned out to be a great launching pad for industrial globalization. As the comparison of India and China in 1980 makes clear, to imagine manufacturing would be equally distributed when populations are so differently endowed in terms of educational and nutritional is fanciful. Here is the data from Kapur and Subramanian, data which I explored back at the very beginning of Chartbook. As Kapur and Subramanian insist, the striking fact is that even as India’s growth accelerated from the 1980s, structural change has not. Formal employment in India lags woefully behind. Why? As Kapur and Subramanian note, the path-dependent impact of India’s poor early start was devastating. The list of factors they mention is long and weighty: We argue for a new five-fold explanation applicable at different stages of Indian history: in the initial stages, the legacy of two key pre-1980s policies, the neglect of agriculture and the strangling of the domestic private sector, were critical. The failure of broad-based agricultural growth militated against rural industrialization, which would have been devoted to satisfying local needs that would have necessarily been labour intensive. Then, when the boom came after 1980, the thicket of regulation and broader labour protections that were legislated prematurely in a nascent democracy, underpinned by a deep ideological aversion to private capital in general and big capital specifically, became a barrier to attaining the size that would be necessary to compete globally. Similarly, the reforms after 1991, while wide-ranging, did not quite encompass non-tradeable inputs critical to manufacturing, namely, land, logistics infrastructure and power. A combination of low investment (logistics infrastructure), regulation (land) and the continued monopoly supply by state governments (power), combined with residual socialism, kept costs at 75–100 per cent above efficient supply. These factors were compounded on the supply side by the government, which dominated the formal labour market and established exorbitantly high wages at the lower end of the skill spectrum. This made their employment in the labour-intensive sector by the private sector less attractive. Finally, when the services sector and its exports boomed, wages soared even further via a Dutch Disease effect: one successful tradeable sector killed and cannibalized another less-skilled tradable sector, namely, manufacturing. Thus, scarcity-inducing policies of the planning era, precocious democracy and a Gandhian aversion to size; inefficient, monopolistic supply of critical non-tradable inputs; the behemoth of government; and super-successful skill-intensive services successively undermined India’s unskilled labour employment opportunities. The employment failure seems to have been over-determined. … Less quantifiable but no less important are some of the sociological factors that have undermined manufacturing and factory jobs. Take the impact of the success of the IT sector—located in urban areas with better working conditions, such as air-conditioned offices, good schools for children and attractive entertainment options. It became a more attractive place for engineering and management graduates to flock to. … Consider manufacturing and female employment. Indian society makes it difficult for women to work, reflected in India’s unusually low female labour force participation (elaborated in Chapter XIII). Indian society, in particular the routine harassment of women in public spaces, makes it even more difficult for them to travel long distances to take up work.37 Combined with onerous regulations on creating hostels and dormitories for women—which, in turn, prevents multiple shifts of operation—factories need to be located in areas with a large female labour pool. While firms can take apparel plants to female labour or bring them to the plants by building large-scale dormitories, this raises costs. If there was a case for subsidies to encourage labour-intensive manufacturing, housing subsidies to build dormitories for women workers would be a good place to start. All of this meant, that when opportunities did open up, in part thanks to adjustments in China, India was in no position to take advantage. Here is the account of the 2020s from Kapur and Subramanian. It stands in dizzying contrast to the one-sided, “China squeeze” argument delivered in the Peterson and Foreign Affairs pieces: In 2022, for example, India’s share of global exports in clothing (the canonical labour-intensive sector) was 3.1 per cent compared to 32 per cent for China. This is extremely disappointing because China started vacating export space in this sector after the Global Financial Crisis as its wages started rising; it then vacated further space in the aftermath of geopolitical developments that led investors to seek alternative investment locations. Between its peak and today, China lost about 7.5 percentage points of global export share (worth about $43 billion in 2022); over this period, India’s export share remained stagnant at 3 per cent, while that of Vietnam and Bangladesh rose by 3.5 to 4 percentage points. China’s loss did not translate into any gain for India in terms of low-skill exports and employment. Put differently, when the conditions for dynamism and prosperity were established after 1991, and even more tantalizingly when the global export opportunities opened up, it was as if India was a high-wage economy and only skilled labour could benefit from the dynamism. It had converted its physically abundant unskilled workforce into an economically expensive resource, penalizing its use. It is not my mission here to argue for or against Kapur and Subramanian’s interpretation of India’s development trajectory. The point in this context is simply that the “China squeeze” such as it is can only be understood, in relation to the heavy burden of domestic constraints that Kapur and Subramanian so unsparingly enumerate. I am concentrating here on India because it is the great counterpart to China and the unspoken reference point of the “China squeeze” discourse. But the point is more general. Can anyone with a straight face suggest that the main problems afflicting the development of South Africa or Nigeria, the great centers of mass underemployment in sub-saharan Africa, are cheap competition from China driven by Beijing’s industrial policy and an undervalued RMB? Likewise, is the main problem of the American working-class the threat of Chinese competition or the manifest crisis of social reproduction in the United States itself? The point here, as in the discourse around China shock 2.0 in Europe, is to insist that we should not normalize the world and pathologize China, without actually investigating what is going on in America’s industrial wastelands, the German car industry, or India’s lopsided labour market. One-sided pathologization should be understood for what it is, a polemical gesture. Concepts like China shock and China squeeze are, what Reinhart Koselleck, following Carl Schmitt, would have described as “asymmetrische Kampfbegriffe”, or “asymmetrical counter-concepts” or “asymmetrical combat concepts”. If the function of arguments like the “China squeeze” is to alert elites in the rest of the world of the need to rejuvenate and energize their development projects, so be it. But let us see the resulting discourses as the mobilizing interventions that they are. Interestingly, a significant slice of China’s public sphere - the so-called industrial party - have been obsessed for the last twenty years with precisely these questions of counterfactual economic history. Since the mid 2000s, a massive online discourse developed around an alternative history in which Chinese techno-patriots were asked to imagine how they would proceed if they had the possibility of traveling back in time to transport modern technology into the Ming dynasty (1368-1644) thus averting the “great divergence” of the 18th and 19th centuries. It is a fantasy of course, but also a goad. The point was not directed at Westerners. The alternate history is dramatically nationalist, but few n the West had even heard of it until recently. The adherents of the industrial party are not liberal moralists. They don’t project natural ladders of international development and ask why others don’t cede space. They take the Realpolitik of global economic development for granted. Their pointe was directed against fellow Chinese. The rallying cry of the alternative narrative was this: Now that we are beginning to gain steam and push forward on our national development path, now that we are breaking out of the inferior position assigned to us even in the early years following WTO accession, do not lose yourself in humanistic imaginings about better futures. In the spirit of Deng, they called on China to embrace the hard truth of development. Perhaps one might of the Industrial Party as a cultural trend born out of desire for symbolic revenge against those who had inflicted the century of humiliation. In terms of the various temporalities of the “China shock” - retrospective, prospective and counterfactual - one might think of the Industrial Policy discourse as truly speculative, conjuring up the China shock that never was. Or perhaps one might better think of it as imagining a world in which a powerful China was no shock at all, but simply a defining fact of modern history. I love putting out Chartbook. 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MrBeast Sales Slow, Angel Stock Falls, MUBI and Neon Look for Hits, and Will an NBA Franchise Set a Sales Record?
(Welcome to the Entertainment Strategy Guy, a newsletter on the entertainment industry and business strategy. I write a weekly Streaming Ratings Report and a bi-weekly strategy column, along with occasional deep dives into other topics, like today’s article. Please subscribe.) You probably remember egg prices spiking a few years ago. This led to a lot of debate between the pro-market/pro-competition/antitrust/Neo-Brandesian crowd and the center/center-right/center-left/abundance/libertarian crowd over the cause, whether it was the avian flu outbreak or whether industry consolidation led to price fixing, using avian flu as a convenient cover. Basel Musharbash wrote a whole investigation at BIG looking at it. Well, two years later, we have our answer: it was price fixing. The Justice Department found proof, via emails, of price fixing. Indeed, just the threat of an investigation brought prices down two years ago: I bring this up because at least half a dozen of my favorite political writers and pundits, who were skeptical about price fixing at the time, haven’t written any mea culpas on this issue. It’s really dispiriting and makes it much, much harder to trust their work on other issues. If you take a hard stand on an issue, then you get it wrong, you need to explain how and why you got it wrong. Or update your priors. This is how epistemological bubbles are formed! All of which is to say, it’s time for another installment of “What I Got Right, What I Got Wrong”. Last issue, I mostly focused on the “wrong” side of the equation, so today’s is a bit more balanced, but with one big mea culpa (though I still stand by my original concerns). Let’s dive right in! Subscribe CORRECTION: UFC Didn’t Release Subscriber Data (But Seems to Have Bragged About It Internally) In my analysis of the viewership of UFC Freedom 250, I wrote... “Paramount has also released datecdotes bragging about their subscriber numbers. Earlier this year, they claimed that the first UFC fight on Paramount+ brought in 1 million subscribers.” Well, that datecdote did not come from a PR rep, but from great reporting from James Faris at Business Insider. The actual quote was this: “Paramount’s flagship streaming service generated about a million new subscribers on the day of its first-ever UFC event, Paramount product chief Dane Glasgow told employees in a town hall on Tuesday morning, three staffers who attended the meeting told Business Insider.“ This wasn’t the biggest goof in the world; even Faris emphasized to me that this is more a “clarification” than a correction. Still, it sounds like, internally, the folks at Paramount were very happy about this result—and I’m guessing they were happy with this news getting out—even though the gains didn’t last through the quarter, dropping to 700K adds. RIGHT: MrBeast’s Struggles Continue... I’m very skeptical about MrBeast’s burgeoning media “empire” and, in particular, its $5 billion valuation, as I wrote earlier this year and last year. Sure enough, according to Business Insider, regarding its “booming” consumer products division_:_ “US sales volume grew 13% year-over-year in 2025, following a 33% leap the previous year, according to a presentation deck dated May 2026....A February 2025 investor deck viewed by Business Insider showed Feastables’ net revenue more than doubled in 2024 from 2023, to $215 million, and was forecast to grow 74% in 2025, to $375 million.” [Emphasis mine.] If you told investors that you projected 74% growth but delivered 13%,1 that’s not ideal. But it’s not just MrBeast. Logan Paul and KSI’s Prime had sales drop in half for their energy drinks. It’s one thing to build a successful entertainment company and an entirely different thing to succeed in the heavily-consolidated-but-also-very-competitive consumer packaged goods space! CPGs are dominated by a few firms with very wide moats compared to YouTube, which has few barriers to entry. These businesses require different skill sets and have completely different business environments. WRONG: Does the NBA Have an $8 Billion Bidder? Almost as soon as I published my article about the NBA’s finances, casting skepticism on NBA expansion, I saw this Front Office Sports headline: One group “claims to have already raised $8 billion” for the Vegas expansion team. I mean, wow. That’s just $2 billion less than what the Los Angeles Lakers were valued at when they were sold just last year. And they’re arguably the most popular team in the NBA. (Side note: the new owner is now under an investigation for fraud in how he went about financing the Lakers and the Dodgers purchases.) So much for the “dried up” language I used in that article. (This is why I usually stick to my “Entertainment Nuance Guy” tone in articles...) I went off old information—from April, when I read/heard about the NBA downplaying expansion efforts—instead of doing a quick double-check for new news. That said...if you read the article, the market for Seattle is “slow”, with just one reported bidder. So I wasn’t entirely off. This goof has annoyed me since I first published it, mainly because it undercut that article’s real point, which I stand by: NBA franchises are really overvalued right now. Now, I get why NBA teams are overvalued. When it comes to owning sports teams, it’s basically never wrong to assume that some rich person somewhere will care more about owning a team (or just being part of a group since they’re so expensive) than the actual financials. There are only so many teams to own, and opportunities to buy in preferred markets don’t come along very often. This explains why the teams sell for such high multiples (usually above a 10 to 12.5 revenue multiple, which is very high). You only need one person to overpay! Beyond the ultra-wealthy luxury good explanation, I worry NBA teams are becoming speculative assets. More and more private equity investors are buying into NBA teams. But the value, in owning a team, comes from selling it later, not any meaningful relationship to revenue or profit growth. In other words, the newer NBA owners are increasingly expecting someone later to buy their inflated asset. That’s not sound economics; that’s the “greater fool” theory at work.2 At some point, actually making money has to matter. Especially since revenue growth is now below the growth of the stock market. (And this matters because the NBA doesn’t have easy levers to pull to drastically lower their costs—half of their revenue has to go to players and then you actually have to run a team, including coaching, training, travel, media expenses, and more—or raise revenues aside from one-off expansions in America and overseas.) I just don’t see how investors make their money back buying NBA teams, except for selling at a higher price later on down the line. But if revenue/profit growth continues to slow, at some point, someone will be left holding the bag. RIGHT: Baseball and Basketball are about equally popular. Related to the above, I wanted to cite two quick pieces of evidence for one of my other theories: that the NBA and MLB are about as popular as each other, but the NBA gets much, much better media coverage. One YouGov survey has that fans prefer basketball to baseball by 52% to 48%, which I’m guessing is within the margin of error for that poll. That’s virtually even, meaning they’re about the same popularity. Over on NBC, a recent Red Sox-Yankees game averaged 4 million viewers, higher than Sunday Night Basketball’s average of 3.4 million on the same network. A Yankees-Dodgers game averaged 3.9 million two weeks ago. Not every game averages this much, but it shows you that baseball isn’t far off from basketball, depending on the matchup. Altogether, the NBA is just slightly more popular than baseball, but NBC is paying MLB a fraction of what they pay the NBA, a point I’ve made before. RIGHT: Angel, MUBI and Neon Updates... I’ve long been skeptical about many of Hollywood’s buzziest startups/smaller indie studios. It’s not that they don’t make great movies—films like Anora and Everything Everywhere All at Once are amazing—or that they’re not (rightfully) pushing the majors to make better films, but...they get a ton of hype, and that hype often doesn’t live up to the reality or difficulty in scaling up. Starting with MUBI, well, The Wall Street Journal wrote a feature on MUBI’s struggles last April, best summarized by the subheader “After Sequoia valued Mubi at $1 billion, a left-wing revolt sent the indie film company into a tailspin”. MUBI lost $7.3 million on $200 million in revenue in Q4 2025, but reportedly hit a record 1.7 million subscribers at the end of Q1. As for Neon, Department M purchased a “significant stake” in the company earlier this year. How much is that “stake” worth? According to Deadline, “No financial figures for the Neon-Department M deal were disclosed.” So...that’s not great! If it was a big valuation, we’d hear about. Also, I found this curious: “Both Neon and Department M already have separate partnerships with Qatar. The Qatar Film Committee has a slate deal in place with the former, and a biopic production pact with the latter.” Color me skeptical about much Middle Eastern investment dollars. See: LIV Golf. Finally, as for Angel (formerly Angel Studios), their stock very, very slightly popped last month after Young Washington ($20 million budget) which made $45 million in the US, but their stock is still way down from its opening. Smaller Updates RIGHT: The WGA should focus on antitrust concerns! I’ve been on this for years. Post-WGA/AMTPT deal in 2023, I wrote an article for the Ankler calling on the WGA to focus and organize against industry consolidation. Sure enough, the WGA filed a lawsuit against the Paramount-WBD merger, and people are organizing around this issue now. I wish this energy had coalesced earlier (specifically to lobby Washington much earlier), but better late than never! WRONG: Actually, the chip shortage might be due to market manipulation. In my last “Long Reads for the Long Summer” article, I shared an article about how LLMs are causing memory chip prices to spike, which will make all electronics more expensive. Well, turns out, three RAM manufacturers control 90% of the market, and now a private lawsuit accuses them of price-fixing. So yeah. WRONG/UPDATE: The Odyssey will hold! Two weeks ago, I wrote, “As of this moment, we haven’t had a super-blockbuster, though The Odyssey, Spider-Man: Brand New Day and Avengers: Doomsday could all cross the $500 million mark. (At this point, The Odyssey would need a very strong hold to get there.)” Well, it’s safe to say it’s going to have that hold! It only dropped 30% in weekend two and IMAX screenings are sold out all month. Spider-Man: Brand New Day is also off to a great start. RIGHT: People are rushing to get shows out yearly. I’ve long been bullish on yearly, weekly-released shows, and Leslie Goldberg at The Ankler wrote about how many people in town are now listening. WRONG: Mark Carney reverses Canada’s stance on homegrown production. After writing about Canada installing domestic production quotas, Canada has backed off. WRONG: I don’t trust Spider-Man: Brand New Day’s online “views”. When I originally wrote about the latest Spider-Man film’s record-breaking trailer, I thought this was just YouTube views, but after watching this Corridor Crew video and doing more research, well, it’s all social views of the trailer globally. Really? That stat includes TikTok, Reels and YouTube Shorts views. Basically, I don’t trust it anymore. (This film will probably set record, but I trust the pre-sales data more.) RIGHT: Celebrity Production companies are still struggling. I’ve written about this for years, but the company that I didn’t track was Kevin Hart’s HartBeat, which was valued at $650 million but is struggling now and might just end soon, especially after Kevin Hart pulled his endorsement deals. And Bad Robot is moving to NYC. CORRECTION: SpongeBob is a “second run” title. In my 2025 recap article, I had _SpongeBob SquarePants_labelled as a “library” title, when it is still a “second run” show, with new episodes still coming out on Nickelodeon. CORRECTION: In my last “What I Got Right, What I Got Wrong” update, I offered a correction from Doug Creutz and misspelled TD Cowen. Thanks, Grammarly! 1 Though he could have increased prices to make up for the gap, he couldn’t have increased them that much. 2 There’s a theory, which I think that Daryl Morey created and Bill Simmons popularized, that, to be successful building your team, you only need a handful of bad GMs in the league to take advantage of. To be clear, Daryl Morey’s theory was also for signing bad contracts, that you could always get out of bad contracts. Basically, there’s always someone who will make a bad trade. It’s not the same exact thing, but similar enough to the Greater Fool Theory that I really like it.
Judge overturns SCGOP decision, ruling Danny Ford can appear on ballot
A judge ruled that farmer Danny Ford II can run in the special GOP Senate primary after the party initially blocked him.
AI-driven Ring Cycle sparks boos at 150th anniversary Wagner Festival
Artificial intelligence sparked boos at the 150th anniversary performance of Wagner’s Ring Cycle. The audience was frustrated that the software could integrate images but not drama. The staging was subtitled
Final Fantasy 14 Switch 2 launch details, including subscription fees, Nintendo Switch Online perk, more
Final Fantasy 14 launches on Nintendo Switch 2 today, and Square Enix has provided various details including subscription fees, a perk for Nintendo Switch Online members, and more. FFXIV Coins are needed for service fees. The big thing right now is that Square Enix is waiving subscription fees for about one month. After this, a 30-day free play period when...
Grading the trade deadline: What did the Red Sox get?
A. That’s the answer. I’m not going to do the online recipe thing and tell you about that time I did this and that and the other before I get there with 4 sections and 3 false endings so you accidentally click on a Carnival Cruise Line ad instead of knowing how many onions to […]
August 6 Vallejo/Vacaville Arts-Entertainment Source: Activities
The Benicia Peddlers Fair is all day Saturday in downtown Benicia.
Effective August 12: Bipartisan Legislation to Prevent Harms Caused by Addictive Sports Betting
DENVER, CO – Bipartisan legislation to prevent harms caused by addictive sports betting practices will go into effect on August 12. SB26-1 31 , spon sored by Senator Matt Ball, D-Denver, addresses problems arising from the growing online sports betting industry by implement
Geno Segers will no longer join Broadway’s ‘Hadestown’ after online backlash
The actor and producers say they mutually agreed to part ways following criticism over past comments about transgender people. “Hadestown”
You can now request absentee ballots for November election
To request an absentee ballot, voters can go online or contact their town or city clerk. According to the Maine Secretary of State’s Office, ballots will begin to be issued 30 days before the Nov. 3 election, which is Sept.4.
Outernet turns your saved posts into real-world adventures
Founded by the creators of viral offline events like San Francisco’s citywide scavenger hunt Pursuit, Outernet's app helps users save places and events they discover online, then nudges them to actually go.
Eagles announce official partnership with online marketplace & sports card grading platform Arena Club
Partnership kicks off with sweepstakes that will award one grand-prize winner with an Eagles gameday experience, a tour of the Jefferson Health Training Complex, and more.
He Started a Side Hustle From His Spare Bedroom. Now, It's a $4 Million Retail Powerhouse
Caleb Ashton has turned his gaming and collectibles business into an online platform as well as a brick-and-mortar store.
Ariana Grande to take a break from the public eye
There has been rampant speculation online about her health and appearance
Ariana Grande withdraws from London musical and will take a break from the public eye
Ariana Grande has pulled out of an upcoming stage musical in London. Grande was set to star alongside Jonathan Bailey in “Sunday in the Park With George” at the Barbican
How to Train, Fuel, and Recover, According to Science
I've spent 17 years writing about how the human body builds fitness, and I distilled the most important lessons into a new ten-part email series. Read the first installment below, and sign up today to get the rest delivered directly to your inbox.
Pocketpair Announces ‘Palworld Online,’ A New MMO Coming This Year
Pocketpair has revealed that Palworld Online, a new MMO based on the IP, is coming later this year. But there is a caveat about the project.
Business Notes: Williamsburg’s Midtown Row welcomes two new restaurants
New restaurants in Midtown Row, Yarn Matters celebrates 10 years and York County names new assistant county administrator.
Commentary: AI-obsessed filmmakers are making a crucial miscalculation
Established filmmakers haven’t minced words about their opposition to AI: Guillermo del Toro said he’d “rather die” than use generative AI, while James Cameron has called AI actors “horrifying.” Industry
Did 'politics' influence Volusia Schools' budget, tax rate?
The Volusia County School Board recently approved a tentative property-tax rate and budget for the district, but just barely.
Palworld Online is a new MMORPG coming to iOS and Android later this year
Developed by Garena, Palworld Online is a shared world MMO where players can collect and level their Pals together.
Corporate law firms funnel nearly $1M to Democratic incumbents
Last year’s bitter legislative fight over Senate Bill 21 – to shield companies from certain lawsuits – has spilled into the summer’s primary season.
Palworld Online announced for iOS, Android
Garena has announced Palworld Online, a “large-scale” multiplayer survival adventure game currently in development under licensing from Pocketpair. It will be available for iOS and Andr…
Ariana Grande Taking a Step Back After Tour Amid "Public Scrutiny" Over Health
Ariana Grande will be stepping away from the spotlight once her Eternal Sunshine tour ends on Sept. 1, her representative confirmed to E! News.
Let’s do science: Share your wild turkey sightings
MAINE—All good wildlife management starts with science, and all good science starts with data. That’s where you come in. Maine’s Wild Turkey August Production Survey invites community scientists to play a direct role in monitoring our state’s wild turkey population. Whether you enjoy watching wildlife from your window, spend time hiking, hunting, or exploring the outdoors, or just need an excuse to get outside, you can help. Each summer, Maine’s wild turkey hens are busy raising the next generation of birds. By reporting your sightings and observations, you’ll help our biologists monitor annual reproduction rates, track population trends, and make informed management decisions that support healthy, sustainable turkey populations for generations to come. The information collected helps ensure there are abundant opportunities for both wildlife watchers and hunters to enjoy Maine’s wild turkeys. It’s easy to participate! Whenever you see wild turkeys anywhere in Maine during August, simply report: Date and location of your observation Number of adult females (hens) Number of adult males (gobblers) Number of poults (young turkeys) Estimated poult size relative to the adult hens Every observation counts, even if you don’t see poults. Together, these reports provide a clearer picture of turkey productivity across the state and are an important part of Maine’s wildlife management. Ready to help? Report your turkey sightings online using the Wild Turkey August Production Survey. Submit an Observation Subscribe Share Leave a comment
Business Notes: Newport News sheriff appointed to lottery board; Carnival partners with students on boat project
View which businesses are giving back and which ones are celebrating milestones.
Francesca Hong rallies with Ilhan Omar, Hasan Piker in South Milwaukee
Francesca Hong held a rally in South Milwaukee with U.S. Rep. Ilhan Omar and Twitch commentator Hasan Piker ahead of the Aug. 11 election.
Sentara announces possible contract terminations with Anthem health insurance
That potential termination, which includes Medicare and Medicaid contracts, could affect close to 380,000 Anthem members in Virginia around the start of next year.
‘Spider-Man: Brand New Day’ nets second best North American opening ever with $355 million
“Spider-Man: Brand New Day” has made box office history in its first weekend, becoming the second biggest North American opening ever with $355 million in ticket sales. It was just
Arsenal 2026/27 third kit release date leaks
Arsenal’s third and final kit for 2026/27 will be released on Monday, new leaks have confirmed, with photos already appearing online.Photo via @IamCrisJ on TwitterFooty Headlines and Arsenal Shirt r...
Bay Beach named among most nostalgic local summer businesses in US
Advance Funds Network says it surveyed 3,021 Americans 45 and older.
Diverse Backgrounds Produce Partners Carving A Business Out Of Stone
Miguel Lopez and Andres Arbelaez left home to build a high-quality stone fabrication business in Easley.
Want to feel better? Go for a walk in a forest, NC State study says
Spending time in a forest or greenspace, especially if birds are present, has significant mental health benefits -- especially for urban residents.
Why online reviews are making it harder to shop, eat out, and travel
Online reviews were supposed to make decisions easier. Instead, we're less satisfied and more anxious with everything from restaurants to vacations.
Beast Of Reincarnation Reportedly Leaked Online By Pirates
Beast Of Reincarnation is one of many AAA titles that have reportedly made their way into pirates' hands before their official release dates in 2026
Hampton Roads Small Business Development Center, Portsmouth Partnership join forces to grow small businesses
Amber Kostka, an owner of The Stockpot restaurant, is joining the effort as a business adviser.
It's Your Business has Brooks Robertson, Joe Molina, Leticia Eastman
News about the latest hires, retirements and more in the Topeka area.
Helping others: Nolan’s ‘The Odyssey’ and its golden rule [Unscripted column]
Walking out of Penn Cinema a few Sundays ago, in the crowd of people filing out of the dark theatre and shoving their popcorn buckets in the overflowing trash cans,
Bethesda Makes Huge Fallout 76 Change To Please Players
Fallout 76 changes have been made to the Infestations circuit to appease players who aren't enjoying the content online.
He bought a fitness supplement online to bulk up, but ended up losing his mind
Daniel Murphy's mental health spiralled after he took missold drugs which had been mixed with steroids.
Promises made, promises kept: Trucker of the Month Jeffrey Crise
Owner-operator Jeffrey Crise, who runs two-truck A&J Transport & Recovery out of the Baltimore area, prides himself punctuality and service -- with clear dedication to customers.
Flutter Entertainment Announce Management Participation in Upcoming Event
DUBLIN & TORONTO, July 31, 2026 (GLOBE NEWSWIRE) -- Flutter Entertainment (“Flutter”) (NYSE:FLUT, LSE:FLTR), the leading online sports betting and...
Marvel Tokon: Fighting Souls' Biggest Secrets Are Already Online
Make mine Marvel, and mute some keywords.
Lancaster County Partnership for Public Health to take a more active role in public health education
As Lancaster County faces its largest measles outbreak in recent history and other public health challenges, a nonpartisan, volunteer group of health experts and community leaders plans to take a
Megamanagers are winning share in a shifting OCIO market. Here’s how they rank.
Leaders of OCIO businesses at asset managers say that a changing client base, as well as the benefits of their own scale, have been key contributors to their growth.
Author's Response: African Americans, Sudan, and the Politics of Solidarity
This post is part of our online roundtable on Christopher Tounsel’s Bounds of Blackness. In April 2023, civil conflict erupted in Sudan between the paramilitary Rapid Support Forces (RSF) and the Sudanese Armed Forces (SAF). While numbers alone never convey a war’s human toll, the statistic
The Most Polarizing Mario Game Is About To Come To Switch 2
The underrated 3D Mario game will be part of Switch Online's GameCube library
Major Nintendo Switch update adds Mario Sunshine and unreleased Virtual Boy games
Switch Online will add new features and games next month…
Continual integration of single-cell multimodal data with MIRACLE
Nature Computational Science - MIRACLE is an online continual learning framework that efficiently integrates single-cell multimodal data across batches, modalities, tissues, and diseases.
GOP Senate nominee ends press conference after questions on ties to White nationalist influencer
Republican Senate candidate Mike Collins ended a press conference Thursday after repeatedly declining to answer questions about his relationship with a son-in-law who promoted White nationalist ideology and circulated antisemitic content online, as first revealed by CNN’s KFile.
Wisconsin Department of Health Services shares Medicaid work requirement compliance plans
Wisconsin's Department of Health Services outlined how it will implement new federal
In the unbridled online marketplace for peptides, one vendor is sentenced to nearly 6 years in prison
City launches online map to track affordable housing projects
The tracker is part of Mamdani's broader housing plan.
Hims & Hers sued over sending users health info to social media platforms
Digital telehealth platform Hims & Hers is facing a civil lawsuit over accusations of sending users’ health information to online advertisers after promising privacy.
Federal tariff refund portal offers relief for small businesses hit by import costs
Businesses across the U.S. may be in line for a significant financial boost after federal agencies launched an online system allowing importers to apply for tariff refunds.
Woman accused of stealing over $200k from Fort Myers business, spending money on online gambling
A Cape Coral woman is accused of stealing over $200,000 from her place of work and spending it on online gambling currency, according to the Lee County Sheriff's Office.
New KU Business microcredential helps professionals build sales expertise
Gain practical skills in prospecting, negotiation, relationship-building and more through KU's online Professional Selling Microcredential for working professionals.
Troy Jackson ran anonymous account to troll Republicans online
In 2012, Troy Jackson had plenty to say about Maine politics. An outspoken Democratic state lawmaker, Jackson openly feuded with then-Republican Gov. Paul LePage.
Hackers invaded the social site of a Miami business. Could yours be next?
How to protect your firm from online hackers.
Hawley recognizes The Daily News as historic business
BATAVIA — Recognizing 148 years of local news coverage, Assemblyman Steve Hawley, R–Batavia, presented a proclamation Wednesday formally inducting The Daily News into a statewide registry of historic businesses.
Meet & Greet with Laura Galloway
Laura Galloway began her new role as dean of Whitworth University’s School of Business on July 1 after relocating to Spokane from San Diego, where she previously worked for University of Massachusetts Global, a California-based online institution, most recently as associate vice chancellor for institutional curriculum, assessment, and academic policy.
US FTC suing Hims & Hers for sending user health info to Meta, Snap
The U.S. Federal Trade Commission is suing Hims & Hers alleging the telehealth platform shared users' health data with online advertisers despite promising privacy and engaged in deceptive billing and cancellation practices, an FTC spokesperson said.
Garmin's New Tracker Has No Screen. Here is Why it Completes the Ecosystem for Cyclists.
The subscription-free Cirqa captures crucial 24/7 data without the bulk of a watch. Here’s how it protects Garmin's walled garden and seamlessly integrates with your existing bike computer.
\'American Crime Story\' actor visited Lancaster Central Market Saturday
A Venezuelan actor known for his roles in "The Assassination of Gianni Versace: American Crime Story," "The Bourne Ultimatum," "Borderlands" and "Carlos" was spotted at Lancaster Central Market on Saturday.
Exclusive: NCAA flags second Tennessee athletics student worker for sports gambling
For second time in a year, a student worker in the University of Tennessee athletics department was flagged by the NCAA for online sports gambling.
George Mason’s Siddhartha Sikdar elected to Virginia science academy
Indian American bioengineering innovator Siddhartha Sikdar will help guide state health technology policy.
A Deluge of A.I. Computing Power Is About to Come Online, Fueling Major Leaps
The number of A.I. chips that provide the computing power to advance the fast-evolving technology is doubling every nine months.
7 events in Lancaster County this weekend, from \'The Tempest\' to an art battle
There's plenty to do in Lancaster County this weekend, especially if you're looking for something that both you and the kiddos can do together.
Flutter Entertainment (FLUT) Back In Focus As Jefferies Sees An Inflection Point In Valuation
Flutter Entertainment (NYSE:FLUT) is back in focus after Jefferies suggested the company may be nearing an inflection point as concerns about prediction markets eroding online sports betting demand start to ease. See our latest analysis for Flutter Entertainment. Recent trading reflects that shift in sentiment, with Flutter Entertainment’s share price at US$109.06 and a 1 day share price return of 3.04%, adding to a 7 day share price return of 8.03%. Despite this short term momentum, the...
Clark Minor out as Health and Human Services’ IT chief
HHS has removed Minor as the agency’s CIO online. The ex-Palantir executive began at the agency in February 2025.
Billy Bob Thornton inducted into SC Hall of Fame for 'meaningful impact'
Billy Bob Thornton was inducted into the SC Entertainment & Music Hall of Fame following his performance with The Boxmasters on July 27 in Liberty.