Morning Brew Daily RIP Party City & FAA Gets a Starlink Makeover?
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Feb 26, 2025 Toby and Ann unpack a pivotal U.S.-Ukraine deal over rare earth minerals, highlighting ongoing geopolitical tensions. They also discuss the surprising closures of Party City and Joann Fabrics as e-commerce thrives. The FAA's contentious agreement with SpaceX's Starlink raises eyebrows over aviation tech upgrades. PayPal's ambitious plans for Venmo to become the top payment app by 2027 add intrigue. Plus, a glance at Home Depot's steady growth amidst economic shifts rounds out the engaging conversation.
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US-Ukraine Mineral Deal
- The US and Ukraine reached a deal for joint development of Ukraine's mineral resources.
- This deal replaces earlier US demands for a $500 billion payout but aims to give the US a return on its Ukraine investment.
Deal Concerns
- The US deal with Ukraine involves setting up a sovereign wealth fund where the US owns the maximum allowed financial interest.
- The deal lacks security guarantees, and the US voted against a UN resolution condemning Russia's war in Ukraine.
Mineral Deposit Value
- While Russia courts US companies, the value of Ukraine's mineral deposits is uncertain.
- The US interest may be strategic, aiming to reduce reliance on China for rare earth minerals.