Morning Brew Daily The Pro Sports Move Costing DC Billions & 'Nerds' Candy Sweet $500M Business
Dec 14, 2023
Washington D.C. is set to lose the NBA's Wizards and NHL's Capitals to Northern Virginia, sparking economic and emotional concerns. Tesla faces a massive recall, while a Supreme Court case may impact reproductive rights. The candy brand Nerds has surged from $50 million to a striking $500 million, thanks to its new Gummy Clusters and Super Bowl debut. Additionally, the rise of cheating in schools is contrasted with advancements in AI, highlighting the ongoing battle between technology and education.
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Sports Arena Relocation
- DC's pro sports teams (Wizards and Capitals) are moving to a new arena in Northern Virginia.
- This is a blow to DC's downtown but a win for Virginia, following Amazon's HQ2 move.
Stadiums as Development Anchors
- New sports stadiums are becoming anchors for large, mixed-use developments.
- This trend is seen with the Dallas Mavericks, Atlanta Braves, and NY Mets.
Economic Impact of Stadiums
- Sports team owners often claim stadiums boost local economies.
- However, studies show little to no tangible community impact, primarily benefiting the owners.