🚗 Biden’s aggressive EV plan


August 9, 2021

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The Hustle

The Tokyo Olympics wrapped up yesterday, with a record 88 countries winning a medal. Hat tip to 1st-time golds for Qatar, Bermuda, and the Philippines.

Today’s rundown:

  • America’s EV plan: President Biden wants 50% of new cars in 2030 to be electric
  • Shine bright like a… crystal: A look at the booming $1B+ “near-gemstone” industry
  • Digits: Interesting numbers on South Park, Hello Kitty, and abandoned oil wells

Let’s do it.

The big idea
Biden in an EV

President Biden is laying down the law for EVs

Not all automakers have embraced the shift to electric, but soon they may have to.

Last Thursday, President Biden set a goal to speed up America’s shift to electric, targeting 50% of all new cars on the road by 2030.

The 3 largest car markets globally are the US, Europe, and China…

… and the US is lagging when it comes to EV adoption.

  • In Europe, 17% of new cars purchased in the 1st half of 2021 were EVs
  • In China, 1.1m plug-in cars were sold so far this year, making up 11% market share
  • In the US, less than 4% of new car sales were EVs through the 1st half of the year

The top manufacturers are on board

The top 3 companies in the US by market share have big EV aspirations:

  • General Motors wants to make only EVs by 2035
  • Toyota predicts 70% of US sales will be EVs by 2030
  • Ford announced that 40% of its vehicles will be electrified by 2030

But manufacturing is just 1 piece of the puzzle.

In Europe, government support has been key to adoption

And the US knows it.

President Biden recently made a $174B request for congress to create 500k electric charging stations to improve EV infrastructure.

The government has helped push EVs forward before. Without a $465m government loan in 2010, there’s a chance Tesla wouldn’t have gotten off the ground.

Now, we’ll get to see how the titans fare in a much more competitive EV landscape.

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SNIPPETS

De Beers’ latest earnings show that jewellery sales are picking up. #ecommerce-retail

Mobile app Stingle wants to privately and securely back your photos up. #emerging-tech

Uh oh: A study shows that up to 75% of plastics from detergent pods end up in the environment. #clean-energy

China’s social app WeChat is being sued by Chinese regulators over its “youth mode”, which may violate children’s privacy laws. #privacy

A new tax reporting bill from the US Senate could greatly hamstring the crypto industry. #fintech-cryptocurrency

Elon Musk’s Neuralink raises $205m for its brain-computer interface product. #big-tech

Hard Rock
expensive crystal

This crystal will only set you back *checks notes* $663k (Souce: The Earth Story)

Crystals are a $1B+ industry. Who’s buying?

In 2016, Moon Juice founder and Goop-favorite health guru Amanda Chantal Bacon was aghast to find someone had stolen a beloved rose quartz crystal from her LA smoothie bar (it’s still missing).

Turns out the thief was onto something.

Crystals are a $1B+ industry

Also known as “near-gemstones,” their popularity has risen with celebrity endorsements, per The Los Angeles Times.

Rich people apparently love to load up their homes (and yachts) with big, pristine statement crystals, sometimes shaped like other stuff.

For example:

  • A $45k, 1-ton amethyst throne
  • A $125k amethyst coffee table
  • A $333k peach-colored quartz “the size of a laundry basket”

Why are these pretty rocks so expensive?

They’re often rare and unique. Once a collector nabs one, it’s gone.

For centuries, people have believed certain crystals have healing properties. Today, prices fluctuate at the whims of woo-inclined influencers and celebrities who swear by particular rocks.

Demand for diamonds dropped amid the pandemic, but increased for crystals as people looked for ways to feel better while stuck at home.

Now give me an example of a really expensive crystal

So glad you asked! La Madona Rosa is a 30-by-15-cm rose quartz cluster mined in Brazil in the 1950s. Its name comes from its shape, reminiscent of the Madonna and her halo.

It’s the 2nd-largest rose quartz ever found and was auctioned for $662.5k in 2013.

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Free Resource

Reports on summer 2021 are already in

HubSpot’s dropping the heat, and we’re still deeply midsummer.

This comprehensive report pits numbers from this summer against 2019 pre-pandemic benchmarks, and reveals why so many industries are slumping as we speak.

It shares insights and action plans based on global web traffic and deal-closing data from 103k anonymous HubSpot customers.

Internet traffic is down — but what’s the deal on deals?

Unplugging and traveling are (kinda) back in fashion, but that’s the tip of the iceberg. There are plenty of upcoming trends to consider.

Check out the latest data on these dog days.

Oh, it’s hot →
By The Numbers
South Park poster

We have 14 new South Park movies headed are way (Source: Comedy Central)

Digits: Brazilian butt lifts, $10 palm prints, South Park, and more

1) The number of Brazilian butt lifts performed globally has increased 77.6% since 2015, going for an average rate of ~$5.5k. Butt, the mortality rate of the operation is 1 in ~20k.

2) Amazon is offering $10 in credit to people who connect their palm prints with their Amazon account and enroll in its Amazon One biometric recognition service to pay for stuff in 50 Amazon-owned stores.

3) Good news, South Park fans. The show’s creators inked a $900m deal to produce 14 original South Park films and keep the show on Comedy Central through 2027.

4) There are an estimated 100k-560k unplugged oil wells in Pennsylvania — a massive environmental hazard — and no one knows where they’re located.

5) To fight wildfires, California is using a family-run helicopter business that charges $8k an hour per chopper, which sounds expensive until you realize they save entire towns by dumping 12 tons of water at a time.

6) Here’s a friendly reminder that the Hello Kitty franchise has generated more revenue (~$84.5B) than the Marvel Cinematic Universe ($35.3B), Harry Potter ($32.2B), and James Bond ($14.2B) combined.

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AROUND THE WEB

☄️ Wow: The shortlist for the Astronomy Photographer of the Year competition is out. Every single entry is stunning.

🐕 Wholesome: Watch this dog play a game of tic-tac-toe.

🍪 Chill out: Enjoy a game of Cookie Monster Chase, which is like Pac-Mac but with the Cookie Monster. #branding

🤖 Cure boredom: Check out the top submissions for Wired’s “Six-Word Sci-Fi” writing prompt.

🇯🇲 On this day: In 2012, Jamaican Olympian Usain Bolt won the 200-meter race at the London Olympics in 19.32 seconds, just shy of his 2009 world record of 19.19 seconds.

Meme of the day
Apple Car meme

Maybe this is why it’s taking Apple so long (Source: Facebook / Memes App Page)

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