Biden/Trump Debate Moves Prediction Markets & Amazon’s Plan to Take Down Temu and Shein
Jun 28, 2024
28:21
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A recap of the 1st Biden/Trump debate and the Supreme Court rejecting the Purdue Pharma settlement. Amazon's plan to rival Shein, Al Michaels as stock of the week, multivitamins' impact on longevity, and NASA's disposal of the International Space Station.
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Quick takeaways
Biden's subdued demeanor post-debate raised concerns among Democrats about his candidacy, overshadowing his attacks on Trump.
Supreme Court's rejection of Purdue Pharma settlement highlights concerns about corporations misusing bankruptcy laws to avoid future litigation.
Deep dives
Presidential Debate Outcome and Candidate Chances in Prediction Markets
Following the recent presidential debate, Republicans were more optimistic than Democrats due to criticisms towards President Biden's performance and concerns about his age. Biden's attacks on Trump were overshadowed by his subdued demeanor, leading to panic among Democrats regarding his candidacy. Prediction markets now show Trump at 61% chance of winning, with Biden at 27%. Notably, California Governor Gavin Newsom and Michelle Obama's chances also saw an increase.
Supreme Court Decision on Purdue Pharma Bankruptcy Settlement
The Supreme Court's recent decision dismantled a decade-long settlement plan involving Purdue Pharma's bankruptcy and the Sackler family's involvement in the opioid epidemic. The settlement aimed to shield the Sacklers from lawsuits in exchange for $6 billion towards the crisis. The Court ruled against the settlement, highlighting concerns about the Sacklers' use of bankruptcy laws to protect themselves. This decision poses implications for corporations using bankruptcy to avoid future litigation.
Amazon's Foray into China Direct Shipping Market
Amazon's strategic move to launch an online storefront for direct shipping from China mirrors successful e-commerce models like Taemu and Xian. By offering competitive pricing and partnering with Chinese merchants, Amazon aims to counter these market disruptors. To adapt to the trend of ultra-cheap goods, Amazon unveils a slower shipping timeline and facilitates small batch production for sellers, mirroring Xi 'an's approach. The loophole in the US tax code allowing tariff-free parcels under $800 is also capitalized upon.
Multivitamin Study on Health Benefits and Mortality Risk
A landmark study analyzing nearly 400,000 healthy adults debunks the notion that multivitamins reduce mortality risk in individuals without chronic conditions. Contrary to popular belief, regular multivitamin intake showed no association with lower mortality rates and even posed a slight increased mortality risk. Emphasizing that a balanced diet supersedes supplements, the study prompts a shift towards food-focused nutrition interventions for overall health benefits.
Episode 354: Neal and Toby recap the 1st presidential debate between President Biden and Republican nominee Donald Trump. Then, the Supreme Court rejects the Purdue Pharma settlement that would’ve sent billions to treatment programs affected by the opioid crisis but shielded the Sackler family from any future lawsuits. The right move? Also, Amazon plans to launch its own fast-fashion service similar to Shein to maintain its hold as the top retailer. Next, Al Michaels is the stock of the week and Walgreens is the dog of the week. Meanwhile, a new study suggests that daily multivitamins don’t actually help with longer life. Lastly, the International Space Station has an expiration date and NASA has tasked SpaceX to take out the trash.
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