The End of an Era: ESPN and Major League Baseball's Partnership
The long-standing relationship between ESPN and Major League Baseball (MLB) is on the brink of transformation, signaling a shift in how baseball is consumed and marketed. This development, relatively under the radar for many sports fans, bears significant implications for the future of baseball as a product and, more broadly, its financial viability.
As of the end of last week, ESPN has decided to terminate the long-term contract that has seen the network broadcast MLB games since 1990. While the current agreement will remain in place through the end of the 2025 season, extensions for the years 2026 to 2028 will not be realized. The decision stems from ESPN's ongoing efforts to renegotiate the terms of their contract—currently valued at $550 million annually—citing competitive concerns from other networks such as Apple and Roku, who have recently entered the fray with much lower deals.
Back in 2021, ESPN signed a major rights deal with MLB, which allowed the network to feature the All-Star game, high-stakes postseason matchups, and the beloved Sunday Night Baseball slots. However, the current situation highlights a deeper issue with the relationship. ESPN's reported request to lower its financial commitment to MLB was met with resistance, ultimately leading them to opt out of the partnership ahead of schedule.
Despite assertions of a mutual agreement, ESPN's decision appears to be a strategic retreat driven by the network's need to adjust its financial commitments in a landscape increasingly dominated by NFL and NBA coverage. The decreasing visibility of MLB on ESPN's platforms stands in stark contrast to other sports, raising questions about baseball's mass appeal in the current market.
From a monetary perspective, the ramifications of this decision could be severe for MLB. Losing ESPN as a media partner means the league is tasked with finding alternative broadcasting partners that can replicate or exceed the financial return it previously enjoyed. The potential absence of $550 million annually from national broadcasts poses a significant threat to MLB's financial stability.
Baseball's commissioner, Rob Manfred, offered insights into the conflict, stating that MLB would prefer not to take a lower deal just to remain on a platform that is shrinking itself. This sentiment captures the current dilemma: baseball may not be as prioritized at ESPN as it once was, leading to a much smaller presence on the network despite its storied history.
ESPN's scale and reach afford it a unique space in the sports broadcasting landscape, functioning as a crucial hub that connects millions of fans with diverse sports. The loss of ESPN broadcasts could result in diminished exposure for baseball, signaling to casual viewers that the sport is not as relevant in mainstream discussions.
For MLB, the challenge lies not only in retaining viewers but also in capitalizing on the potential of digital platforms. There are hints that MLB has been in discussions with other networks while contemplating the idea of launching a unified streaming service for fans. Yet, the effectiveness of such strategy remains to be seen, especially if baseball cannot match its previous revenue levels without a robust ESPN-level partnership.
Conclusion: A Turning Point for Major League Baseball
As the baseball community gears up for what could be its final seasons with ESPN, the future remains uncertain. This pivotal moment serves as a stark reminder of the shifting sports media landscape, as well as the inherent challenges within Major League Baseball’s marketing and financial apparatus.
The end of such a historic partnership may very well point towards a troubling trend: a decline in baseball's presence in the ever-expanding world of sports broadcasting, which may have severe consequences for its popularity moving forward. How both organizations navigate this transition will be critical in determining the future direction of America's pastime.
The Battle of Salamis
The Battle of Salamis occurred in 480 B.C. when the Persian King Xerxes attempted to push south into the Peloponnese Peninsula. As I discussed in a previous article, the Spartans were hesitant to engage the Persians in a naval battle because they thought building a wall across the Isthmus of Corinth was the better way to protect themselves. The Athenian commander, Thermistocles, tricked the Spartans by sending a messenger, posing as a traitor, to tell the Persian a Greek attack was imminent. The Persians took the bait and moved up their timetable leaving the Spartans no time for withdrawal.
Thermistocles knew that the Persian fleet was much larger than his own (1200 ships to 400) so he decided to use geography to improve his chances. The Salamis Island occupies the center of the Saronic Sea near Athens. On the east side of Salamis sits a pointed peninsula called Cynosura. The waters north of this peninsula were quite narrow – too small for entire Persian fleet. Themistocles reasoned that his odds of winning would improve if he only had to fight a fraction of the Persian fleet.
He formed his fleet into a line and placed it running north to south against the eastern coast of Salamis Island. To oppose him the Persians were forced to create their own line on the Attican side of the bay. The Persians attacked early in a September morning but the battle quickly became a rout in favor of the Greeks. Many of the Persian ships were pushed back to Attica where they ran aground. Others, trying to escape to Phalerum (a bay near Athens) were cut off by an Aeginetan squadron and destroyed.
The morning after the New York Knicks suffered disappointing losses to the Cleveland Cavaliers and the Boston Celtics, there was much to unpack about their performance and overall prospects this season. Broadcast live from the Boomer and Gio studio, the hosts engaged in a spirited analysis of the Knicks, their challenges, and the broader landscape of the NBA.
The Knicks entered the weekend with some optimism, especially given their previous strong positions in the league. However, as they faced off against the Cavaliers and the Celtics—two top-tier teams—it became clear that the Knicks struggled significantly. The losses highlighted a persistent issue: the Knicks have consistently failed to defeat the best teams in the league, and the analysis shifted from external factors, such as injuries, to a more troubling internal reality.
Boomer expressed concerns about the team's defensive capabilities, questioning whether they could effectively handle the likes of Cleveland and Boston. While acknowledging that injuries had played a role in the Knicks' performance, Boomer's worries began to deepen, leading him to speculate that this squad may not be equipped to advance past the first rounds of the playoffs.
The hosts broke down the league's hierarchy, categorizing teams into three distinct tiers. The top tier was reserved for the Cavaliers, Celtics, and the Oklahoma City Thunder, while the Knicks were slotted in the second tier alongside the Grizzlies and the Nuggets. As they dissected the discrepancies in talent and performance, they noted that while the Knicks were a good team, they lacked the necessary depth to compete with the elite franchises.
The conversation underscored a critical perspective: while the Knicks might be poised for a playoff berth, merely making it there isn't enough—getting out of the second round has become the apparent goal, yet the current roster may not possess the necessary grit and skill to accomplish that feat.
Reflecting on the Knicks’ defensive struggles, the discussions turned towards specific player performances. Jalen Brunson and Karl-Anthony Towns were singled out as offensive assets with glaring defensive weaknesses. The hosts emphasized that to succeed in the postseason, key players like them needed to elevate their defensive play, a point further complicated by their statistical performance against the top-tier teams.
Boomer remarked that last year’s Knicks team exhibited an intensity and grit that appears to be sidelined this season. The energy and defensive prowess that had previously characterized the Knicks was missing, replaced instead by an over-reliance on offensive efficiency that lacked balance.
As the Knicks navigate the remainder of the season, it became evident that finding consistency would be their major challenge. While the forecast pointed to the possibility of around 46 to 48 wins, facing top-tier competition emphasized the reality that, barring significant injuries to rival teams, their path towards a championship was steep.
However, the conversation did convey a shared enthusiasm for what the team represented. The Knicks, despite their struggles, were seen as a lock for the playoffs—a remarkable achievement after two decades of disappointment. Fans are urged to cherish this season, enjoying the highs and preparing for the inevitable lows as the playoffs approach.
Shifting gears, the hosts brought light-hearted commentary on the latest baseball news concerning the Yankees' long-standing ban on facial hair. The transition from basketball to baseball showcased their playful banter, touching on subjects from Yankee traditions to the meaning of true fan loyalty.
The morning discussion laid bare the complexities facing the New York Knicks, transitioning from discussions about their current form to reflections on their future. From optimistic beginnings to sobering revelations about their place amongst the NBA elite, it remains to be seen how the Knicks will respond. Fans are left both hopeful and anxious as they enter the latter part of the season, craving a glimpse of the team they long for—the one that can challenge for a championship rather than just participate in the playoffs.
Tim Cook, chief executive officer of Apple Inc., greets customers during the first day of in-store sales of Apple's latest products at Apple's Fifth Avenue store in New York, US, on Friday, Sept. 20, 2024.
The move comes after Apple's chief executive met with President Donald Trump last week.
The iPhone maker faces pressure from the Trump administration over where it chooses to manufacture its products. Apple assembles most of its products in China.
Earlier this month, Trump signed an order imposing long-threatened 10% tariffs on Chinese goods on top of existing tariffs of up to 25% levied during his first presidency.
Apple said its $500 billion investment plan will include work with suppliers across the U.S. and production of content for its Apple TV+ media streaming service in 20 states, as well as new hires and research and development (R&D) spending.
Apple said it "remains one of the largest U.S. taxpayers, having paid more than $75 billion in U.S. taxes over the past five years, including $19 billion in 2024 alone."
The tech giant also said it would double its U.S. Advanced Manufacturing Fund to $10 billion from $5 billion currently, create a new manufacturing academy in Michigan, and grow its R&D investments in the U.S. to support cutting-edge fields such as silicon engineering.
Just Eat shares soar 54% after Prosus offers to buy food delivery firm for $4.3 billion
Just Eat Takeaway.com is poised to be acquired by Dutch technology investor Prosus in a deal worth roughly 4.1 billion euros ($4.3 billion).
European food delivery giant Just Eat Takeaway.com is poised to be acquired by Dutch technology investor Prosus in an all-cash deal worth roughly 4.1 billion euros ($4.3 billion).
The offer values Just Eat's shares at 20.3 euros each, representing a premium of 63% when compared to the firm's closing price on Friday.
Prosus, which is majority owned by South Africa's Naspers, already holds a 28% stake in leading food delivery company Delivery Hero.
China Update: Economic Pressures and Geostrategic Insights
Happy Monday, everyone, and welcome to another episode of China Update, where we delve into the latest political, economic, and geostrategic analysis of the world's second-largest economy. In this edition, we’ll explore the escalating financial challenges that China faces, particularly in relation to local government debt, as well as the implications these challenges hold for both domestic and international markets.
In a recent analysis, it has been revealed that China’s local governments are ramping up bond issuance to address hidden debt, exacerbating liquidity issues within the financial system. According to data compiled by Bloomberg, regional authorities plan to release approximately 1.69 trillion yuan (around 233 billion USD) in bonds during the first two months of 2025, representing an unprecedented level for this time period. Notably, about 850 billion yuan of this amount is designated for replacing off-balance-sheet debt.
This record issuance is contributing to a liquidity squeeze as banks struggle to absorb the influx of securities. Money market rates have increased sharply because the People's Bank of China (PBOC) has adopted a tight liquidity stance, curbing major monetary easing measures. This surge in bond issuance follows China’s approval of a debt swap plan, allowing regional governments to restructure 6 trillion yuan of hidden debt over a three-year span. This pivotal strategy aims to lessen interest payments and mitigate the financial pressures faced by local governments, many of which are nearing bankruptcy.
Market analysts caution that a rushed bond issuance ahead of the forthcoming National People’s Congress could further strain the already fragile banking sector. The 7-day interbank lending rate has frequently surpassed broader market benchmarks, indicative of growing funding costs amidst the rapid accumulation of new bonds. Should banks fail to effectively manage these funding challenges, it could have significant repercussions for China’s financial markets and overall economic stability.
Chinese analysts are increasingly sounding alarms about the burgeoning risks of a banking crisis. However, the more pressing concern lies within the threat of prolonged stagnation reminiscent of Japan's economic trajectory in the 1990s. This brings us to a noteworthy development: Tokyo-based Asset Management 1 Co has ventured into China's bond market, reflecting a shift in investor sentiment driven by concerns over deflation and economic performance.
The firm initiated investments in Chinese debt around October 2024, betting on the potential for higher returns. Fund manager Hikaru Tanaka believes China’s economic struggles mirror the Japanese downturn of the 1990s, asserting that a similar path of stagnation is inevitable for China. Amidst a stagnating economy, investors are increasingly pessimistic about China’s growth prospects, evident in the significant uptick in Japanese investment in Chinese bonds, which rose by 53% in 2023.
Despite delivering over 9% returns in 2024, exclusive of currency fluctuations, China’s economy is ensnared in a deflationary quagmire, with falling producer prices and stagnating consumer inflation. Households and companies, having seen substantial wealth eroded by the ongoing housing crisis, have drastically curtailed spending, leading to a shortfall in demand. Historical precedence indicates that overcoming a deflationary cycle necessitates overwhelming fiscal stimulus—a strategy that Chinese policymakers appear hesitant to adopt, given the burgeoning debt situation.
A Financial Times analysis highlights a critical issue in China's economic framework: the limited fiscal benefits allocated directly to citizens compared to other economies with similar income levels. Despite the expansion of social welfare programs in recent years, only 6% of GDP is directed towards individual consumption services like healthcare and pensions, in stark contrast to the 38% contributed by households. This demographic disparity underscores the structural challenges faced in stimulating domestic consumption, which is vital for economic recovery.
Economists emphasize that without significant fiscal transfers from the state to lower-income households, consumption won't meaningfully increase, as current savings levels are low. The Chief China Economist at Morgan Stanley, Robert Sing, argues that stronger social welfare policies are essential for unlocking consumer spending, a pivotal engine for economic growth. The overarching issue pivots on the low share of growth captured by households, with much income being allocated to the government sector.
Analysts from the Rodian Group warn that quick fixes are unlikely to remedy the slow growth of household consumption in China. They assert that a comprehensive restructuring of the economy and fiscal system, aimed at redistributing income from the government to households, is essential for sustainable economic revitalization.
Professor Michael Pettis of Ping University elucidates that China’s low levels of household consumption paired with restrained government consumption levels necessitate running large trade surpluses, bridging the gap between domestic production and demand. This pattern, alongside China's competitive manufacturing sectors, underscores a broader economic weight that has implications beyond its borders.
As we anticipate upcoming economic targets and stimulus measures from China’s leadership, the discrepancy between public spending and consumer demand continues to loom large. With projected increases in the central government’s planned budget deficit and additional bond issuance, the landscape remains tumultuous.
Thank you for tuning into today’s episode of China Update. As China grapples with these compounding economic pressures, we look forward to unpacking more developments in the days ahead. Have a productive week, and we’ll see you tomorrow.
Shares of Just Eat soared as much as 54.7% on Monday morning, notching a new 52-week high. The stock price was last seen trading 54.4% higher on the news.
Prosus shares fell 6.6%, tumbling toward the bottom of the pan-European Stoxx 600 index, while Delivery Hero rose 4.8%.
"We are very excited for Just Eat Takeaway.com to join the Prosus group and the opportunity to create a European tech champion," Fabricio Bloisi, CEO of Prosus and Naspers group, said in a statement.
"We believe that combining Prosus' strong technical and investment capabilities with Just Eat Takeaway.com's leading brand position in key European markets will create significant value for our customers, drivers, partners, and shareholders," Bloisi said.
The Current State of the US Economy: A Retailer's Perspective
As we move into 2025, the landscape for consumers in the United States is changing rapidly, with recent indicators suggesting troubling trends. Major retailers like Walmart and Amazon are sounding alarms about shifting consumer behaviors and growing economic uncertainties. This shift is reflected not only in retail sales figures but also in consumer confidence metrics which have plummeted to some of their lowest levels in years.
Walmart, a bellwether for the consumer economy, has recently reported an unexpected decline in consumer activity. According to their Chief Financial Officer, the company is grappling with uncertainties related to consumer behavior amidst global economic and geopolitical conditions. This sentiment of uncertainty typically signals that business is not performing as optimally as anticipated.
Over the last few years, Walmart thrived as consumers sought lower prices, but now they are witnessing a broadening weakness across their customer base. It’s noteworthy that high-income shoppers, once drawn to the retailer for affordability, are now leveraging app-based shopping and opting for pickup services, highlighting a limitation in their willingness to engage with physical stores. In fact, Walmart is pivoting to expand its house brand offerings, a stark indication that many consumers can no longer afford name-brand goods. This trend spells trouble, as it suggests that even those with relatively higher incomes are beginning to feel the squeeze.
The Journal of Manufacturing and Services PMI figures from S&P Global reinforce the narrative of economic slowdown. The services index has fallen below the critical threshold of 50, indicating a contraction in service sector activity for the first time in over a decade. This decline mirrors the lackluster retail sales reports, painting a picture of a consumer landscape that was artificially buoyed by frontloaded demand in late 2024 and is now dissipating.
Consumer confidence as measured by the University of Michigan has also seen significant drops. From 74 in December, it tumbled to 64.7 recently, reflecting growing disillusionment with economic prospects. High costs of living—evidenced by rising prices for basic goods and services—have created a perception of dwindling financial security, leading many consumers to retrench spending.
The changing economic conditions have resulted in stagnant consumer behavior. Many households are grappling with rising prices in essentials like rent and food, creating a ripple effect that curtails discretionary spending. Despite wages appearing to rise on paper, the reality of increased living costs means that take-home pay is often lower, leading to greater financial anxiety and a reluctance to purchase costly items.
Instead of inspiring spending, recent corporate optimism has unraveled. Executives who previously predicted an upturn post-election are now confronting the significant disconnect between perceived consumer confidence and actual market behavior. The reality is sobering—many households are facing job insecurity and increased payment obligations, which directly influences their purchasing habits.
The implications are significant. Businesses are now restructuring in anticipation of decreased demand. Reports of employment cuts, particularly in retail and services, suggest that economic growth may not be sustainable in the current environment.
The overarching sentiment is one of uncertainty. As observed, previous periods of increased spending have not been followed by sustained growth but rather illusions of recovery, leading to an economic condition many are calling "stagflation." With PMIs indicating serious weakness, it raises questions about economic momentum and overall stability moving forward.
Walmart's proactive measures to adapt to emerging consumer trends underscore the challenges ahead. As the economic landscape shifts, the behaviors of everyday consumers will dictate the path forward for both retailers and the economy as a whole. It appears that we are at a crossroads, where the anticipated recovery may instead reflect a deeper economic malaise.
In summary, as we enter 2025, signs of distress abound across the retail sector and national economy. With consumers exhibiting caution and retrenchment, major retailers are adapting their strategies in response to the evolving economic reality. While optimism may have fueled the last quarter of 2024, the subsequent downturn signals that maintaining growth may be far more challenging than anticipated. With many fundamental issues still unresolved, the potential for sustained economic growth remains uncertain.
The offer comes after a rocky few years for Just Eat. Like many other food delivery companies, the company's stock price collapsed in the wake of the coronavirus pandemic, which had initially boosted the firms as consumers turned to these platforms during lockdowns.
A stark shift in consumer habits since, however, led to a sharp deceleration in growth rates.
The Dutch multinational delisted from the London Stock Exchange late last year, citing an effort to "reduce the administrative burden, complexity and costs associated with the disclosure and regulatory requirements of maintaining the LSE listing." The move made Amsterdam the firm's sole trading venue.
Xerxes observed the battle from Mount Aegaleos expecting to savor a great victory but instead he saw his commanders routed and his fleet destroyed. One of the few exploits to make him smile involved his female commander, Queen Artemisia. Pursued by an Athenian ship, she purposely rammed another Persian ship to make it appear she was Greek. The pursuers took the bait and broke off pursuit of her. When Xerxes heard about this, he remarked, “today our women are fighting like men and our men like women.”
Defeated, Xerxes chose to withdraw his main army from Greece and leave a small force to winter there. Those troops lead by Mardonius camped at Boetia, far enough from Athens to allow its citizens to return to their ruined city.
In November, Just Eat Takeaway.com said it would sell its GrubHub arm to New York-based online takeout startup Wonder for $650 million — a huge discount compared to the $7.3 billion the firm paid for the U.S. food delivery app.
"Prosus fully supports our strategic plans and its extensive resources will help to further accelerate our investments and growth across food, groceries, fintech and other adjacencies. We are looking forward to an exciting future together," Jitse Groen, CEO and founder of Just Eat Takeaway.com, said in a statement on Monday.
The SEC's dismissal of the Robinhood and Coinbase cases is an early sign of the regulatory sea change for the crypto industry promised by President Donald Trump during his election campaign. Despite the meteoric rise of the price of bitcoin under the previous administration, many crypto businesses saw it as low point due to the SEC's notorious regulation-by-enforcement approach to crypto – as opposed to the creation of clear rules by which to operate – under the leadership of then chair Gary Gensler.
Nearly half of Robinhood's $672 million transaction-based revenue in the fourth quarter came from a 700% rise in revenue tied to crypto trading, as bitcoin rallied toward $100,000 for the first time ever on hopes of more favorable policies under Trump.
Tesla Launches Full Self-Driving in China: A Game-Changer for the EV Market
Tesla has made headlines once again with the recent announcement that it is set to roll out its Full Self-Driving (FSD) software in China. The implications of this crucial development are staggering, signaling not just a potential revenue boost for Tesla but also a significant shift in the competitive landscape of electric vehicles (EVs) in one of the world's largest automotive markets.
According to a report from Bloomberg, Tesla is preparing a software update to enhance driver assistance capabilities in its vehicles sold in China. This update mirrors the features of the Full Self-Driving technology currently available in the United States. Previously, Tesla had hinted that it was awaiting approvals for FSD rollout in Europe and Asia, and this latest revelation suggests that this update may involve Tesla's FSD version 13.
This move is projected to unlock over a billion-dollar opportunity in the Chinese market. With an estimated 2 million potential customers currently in China, based primarily around the new Model Y, analysts suggest that even a conservative take rate of 15% could translate into approximately 300,000 customers opting for FSD—either through outright purchase at around $88,000 or through a subscription model at approximately $99 per month.
The rapid deployment of FSD could have immediate revenue impacts for Tesla, potentially showing significant gains in Q1 and particularly Q2 earnings reports. Beyond the financial metrics, it represents a substantial demand lever for Tesla, especially as it competes against numerous technology-laden domestic electric vehicles. While Tesla has often been viewed as a sensible and safe choice—much akin to Volvo—the introduction of advanced driver-assistance technologies could reshape perceptions, positioning the brand as a high-tech leader within the market.
As competitors fill the market with high-tech electric vehicles, Tesla's FSD has the potential to redefine its image among consumers. The demo experience of being driven by a Tesla vehicle using FSD will likely captivate prospective buyers, thus elevating Tesla’s status as an innovative tech leader in the eyes of Chinese consumers.
Competitive Pricing and Market Strategy
Tesla is at an advantageous point where it can adopt a competitive pricing strategy tailored for China, which could bolster the appeal of its vehicles. The possibility of introducing its FSD subscription at a lower price than the U.S. could further enhance sales. Offering a well-priced car that harnesses self-driving capabilities may resonate well with the tech-savvy Chinese market.
Despite existing challenges in the transition from old to new Model Y versions, Tesla continues to see robust demand. The Model Y garnered around 170,000 pre-orders in just a couple of weeks, highlighting the impressive interest in Tesla vehicles which could soar even higher with FSD capabilities.
Global Market Implications
Tesla's expanding footprint in China also presents unique operational advantages. Unlike legacy automakers, Tesla can pivot production and distribution strategies based on demand fluctuations across continents. For example, if demand declines in Europe, Tesla can reallocate resources to bolster sales in the booming Chinese market, which has the capacity to produce nearly one million units annually at its Shanghai Gigafactory.
This flexibility starkly contrasts with large automakers like GM and Ford, which are currently facing declining sales in China and subsequently shutting down operations. While many legacy companies are consolidating, Tesla's strategy allows it to thrive globally, sustaining sales momentum regardless of regional market pressures.
Conclusion: A Future Filled with Opportunity
As Tesla unleashes its Full Self-Driving software in China, the ripples of this decision will impact not just its own bottom line, but also the broader EV market landscape. With an opportunity to access 2 million potential customers and heighten its status as a tech innovator, Tesla stands poised for growth in a highly competitive environment.
The coming months will be crucial as analysts and consumers alike examine the effects of FSD on Tesla's sales in China. If the anticipated demand materializes, it could solidify Tesla’s already significant role in reshaping not just the automotive market but also the perception of electric vehicles around the world.
As the story evolves, it remains essential for stakeholders and enthusiasts to stay tuned to updates regarding Tesla's strategies and outcomes in China and beyond.
So what we see here is a left wing of hawks and a right wing of doves. Interesting to compare it to the United States where the left wing are doves and the right wing hawks. What is the difference?
In our country Democrats favor the people and Republicans favor business. Generally speaking the Democrats worry about what can be done domestically to improve the lives of the public. That focus is more important to them than foreign policy which is complicated and takes money away from domestic needs. The Republicans favor a strong foreign policy because it protects their business interests -- more important to them than the needs of the people.
Aeschylus was considered the father of Greek drama. As a religious man and philosopher, his plays were more rough in structure as he developed the model. Sophocles brought the form to its highest level in terms of structure and balance between the story and the moral. Euripides, impatient with what came before him and overtly emotional, brought the inner thoughts and anxieties of his characters into his plays. His works represent a drop off in the traditional form. After Euripides, drama declined and it was replaced by comedy, most notably that of Aristophanes.
Dorians and Ionians
According to historians, the ancient Greek people were made up of Dorians and Ionians; tribes who migrated from the north into Greece during the Mycenaean Era. The Peloponnese was Dorian while the Attica Peninsula and the western coast of Asia Minor were populated by Ionians. Dorians had their own dialect of Greek and observed their own festival-laden calendar.
Most people who know a little Greek history are familiar with the Dorian and Ionic columns of Greek Architecture.
Spartan Timeline – The Collapse
The period following the Peloponnesian War was a disaster for Sparta. With victory came the responsibility to govern, so Sparta, as an oligarchy, sought to impose oligarchic governments on those it defeated. But the Spartans did not know how to govern others and many of their appointed governors became tyrants. A “group of thirty” ruled Athens for only a year before it was overthrown and a democracy restored. Elsewhere puppet governments were despised and resisted. Former allies conspired against the Sparta, fearing its intentions, and it wasn’t long before all the defeated Greeks were independent again.
Overseeing this Spartan decline was the king Agesilaus, who ruled from 399-360. Agesilaus was an enigma. He was never supposed to rule being the younger brother of the heir, and excelled in the Agoge despite being lame. Rival of Lysander and admired by Xenophon, Agesilaus did his best to protect Spartan honor despite the handicap of an un-Spartan-like mercenary army. Against Boetia in 398, he was severely injured and had to be carried from the battlefield. Later, his many battles against the rising power of Thebes came to nothing and the defeat at Leuctra in 371 proved the Spartan army was finished. The next year, Thebes and her allies invaded the Peloponnese and attacked Sparta itself. Beaten off, they settled for the liberating the Messenians, which ended three hundred years of the helot system.
The earthquake was a large magnitude event that caused significant loss of life in Sparta. Debate as to whether the army was seriously impacted by the loss of trainees and mature Spartiates is inconclusive, but it may have had an impact on Spartan thinking later. Immediately after the earthquake, the Messenian Helots took the opportunity and revolted. The length of their revolt is unclear, but it could have lasted several years. The Athenians sent a force of four thousand hoplites to assist Sparta after she made a request for aid, but that gesture only soured the relationship between the two Greek powers when the Athenians were not able to help prosecute the siege of the Messenian stronghold at Mount Ithome.
!summarize #espn #Mlb #sports #broadcast
Part 1/8:
The End of an Era: ESPN and Major League Baseball's Partnership
The long-standing relationship between ESPN and Major League Baseball (MLB) is on the brink of transformation, signaling a shift in how baseball is consumed and marketed. This development, relatively under the radar for many sports fans, bears significant implications for the future of baseball as a product and, more broadly, its financial viability.
Part 2/8:
As of the end of last week, ESPN has decided to terminate the long-term contract that has seen the network broadcast MLB games since 1990. While the current agreement will remain in place through the end of the 2025 season, extensions for the years 2026 to 2028 will not be realized. The decision stems from ESPN's ongoing efforts to renegotiate the terms of their contract—currently valued at $550 million annually—citing competitive concerns from other networks such as Apple and Roku, who have recently entered the fray with much lower deals.
Historical Context: How We Got Here
Part 3/8:
Back in 2021, ESPN signed a major rights deal with MLB, which allowed the network to feature the All-Star game, high-stakes postseason matchups, and the beloved Sunday Night Baseball slots. However, the current situation highlights a deeper issue with the relationship. ESPN's reported request to lower its financial commitment to MLB was met with resistance, ultimately leading them to opt out of the partnership ahead of schedule.
Part 4/8:
Despite assertions of a mutual agreement, ESPN's decision appears to be a strategic retreat driven by the network's need to adjust its financial commitments in a landscape increasingly dominated by NFL and NBA coverage. The decreasing visibility of MLB on ESPN's platforms stands in stark contrast to other sports, raising questions about baseball's mass appeal in the current market.
The Financial Fallout for MLB
Part 5/8:
From a monetary perspective, the ramifications of this decision could be severe for MLB. Losing ESPN as a media partner means the league is tasked with finding alternative broadcasting partners that can replicate or exceed the financial return it previously enjoyed. The potential absence of $550 million annually from national broadcasts poses a significant threat to MLB's financial stability.
Baseball's commissioner, Rob Manfred, offered insights into the conflict, stating that MLB would prefer not to take a lower deal just to remain on a platform that is shrinking itself. This sentiment captures the current dilemma: baseball may not be as prioritized at ESPN as it once was, leading to a much smaller presence on the network despite its storied history.
Part 6/8:
The Broader Implications of Reduced Coverage
ESPN's scale and reach afford it a unique space in the sports broadcasting landscape, functioning as a crucial hub that connects millions of fans with diverse sports. The loss of ESPN broadcasts could result in diminished exposure for baseball, signaling to casual viewers that the sport is not as relevant in mainstream discussions.
Part 7/8:
For MLB, the challenge lies not only in retaining viewers but also in capitalizing on the potential of digital platforms. There are hints that MLB has been in discussions with other networks while contemplating the idea of launching a unified streaming service for fans. Yet, the effectiveness of such strategy remains to be seen, especially if baseball cannot match its previous revenue levels without a robust ESPN-level partnership.
Conclusion: A Turning Point for Major League Baseball
As the baseball community gears up for what could be its final seasons with ESPN, the future remains uncertain. This pivotal moment serves as a stark reminder of the shifting sports media landscape, as well as the inherent challenges within Major League Baseball’s marketing and financial apparatus.
Part 8/8:
The end of such a historic partnership may very well point towards a troubling trend: a decline in baseball's presence in the ever-expanding world of sports broadcasting, which may have severe consequences for its popularity moving forward. How both organizations navigate this transition will be critical in determining the future direction of America's pastime.
!summarize #youtube #ceo
This video has already been summarized: https://inleo.io/threads/view/anderssinho/re-anderssinho-kwzfrprf
The Battle of Salamis
The Battle of Salamis occurred in 480 B.C. when the Persian King Xerxes attempted to push south into the Peloponnese Peninsula. As I discussed in a previous article, the Spartans were hesitant to engage the Persians in a naval battle because they thought building a wall across the Isthmus of Corinth was the better way to protect themselves. The Athenian commander, Thermistocles, tricked the Spartans by sending a messenger, posing as a traitor, to tell the Persian a Greek attack was imminent. The Persians took the bait and moved up their timetable leaving the Spartans no time for withdrawal.
Thermistocles knew that the Persian fleet was much larger than his own (1200 ships to 400) so he decided to use geography to improve his chances. The Salamis Island occupies the center of the Saronic Sea near Athens. On the east side of Salamis sits a pointed peninsula called Cynosura. The waters north of this peninsula were quite narrow – too small for entire Persian fleet. Themistocles reasoned that his odds of winning would improve if he only had to fight a fraction of the Persian fleet.
He formed his fleet into a line and placed it running north to south against the eastern coast of Salamis Island. To oppose him the Persians were forced to create their own line on the Attican side of the bay. The Persians attacked early in a September morning but the battle quickly became a rout in favor of the Greeks. Many of the Persian ships were pushed back to Attica where they ran aground. Others, trying to escape to Phalerum (a bay near Athens) were cut off by an Aeginetan squadron and destroyed.
!summarize #nyknicks #nba
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The State of the Knicks: A Morning Discussion
The morning after the New York Knicks suffered disappointing losses to the Cleveland Cavaliers and the Boston Celtics, there was much to unpack about their performance and overall prospects this season. Broadcast live from the Boomer and Gio studio, the hosts engaged in a spirited analysis of the Knicks, their challenges, and the broader landscape of the NBA.
Early Season Reflections
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The Knicks entered the weekend with some optimism, especially given their previous strong positions in the league. However, as they faced off against the Cavaliers and the Celtics—two top-tier teams—it became clear that the Knicks struggled significantly. The losses highlighted a persistent issue: the Knicks have consistently failed to defeat the best teams in the league, and the analysis shifted from external factors, such as injuries, to a more troubling internal reality.
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Boomer expressed concerns about the team's defensive capabilities, questioning whether they could effectively handle the likes of Cleveland and Boston. While acknowledging that injuries had played a role in the Knicks' performance, Boomer's worries began to deepen, leading him to speculate that this squad may not be equipped to advance past the first rounds of the playoffs.
Team Comparisons: The NBA Landscape
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The hosts broke down the league's hierarchy, categorizing teams into three distinct tiers. The top tier was reserved for the Cavaliers, Celtics, and the Oklahoma City Thunder, while the Knicks were slotted in the second tier alongside the Grizzlies and the Nuggets. As they dissected the discrepancies in talent and performance, they noted that while the Knicks were a good team, they lacked the necessary depth to compete with the elite franchises.
The conversation underscored a critical perspective: while the Knicks might be poised for a playoff berth, merely making it there isn't enough—getting out of the second round has become the apparent goal, yet the current roster may not possess the necessary grit and skill to accomplish that feat.
Defensive Challenges and Team Identity
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Reflecting on the Knicks’ defensive struggles, the discussions turned towards specific player performances. Jalen Brunson and Karl-Anthony Towns were singled out as offensive assets with glaring defensive weaknesses. The hosts emphasized that to succeed in the postseason, key players like them needed to elevate their defensive play, a point further complicated by their statistical performance against the top-tier teams.
Boomer remarked that last year’s Knicks team exhibited an intensity and grit that appears to be sidelined this season. The energy and defensive prowess that had previously characterized the Knicks was missing, replaced instead by an over-reliance on offensive efficiency that lacked balance.
Looking Ahead
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As the Knicks navigate the remainder of the season, it became evident that finding consistency would be their major challenge. While the forecast pointed to the possibility of around 46 to 48 wins, facing top-tier competition emphasized the reality that, barring significant injuries to rival teams, their path towards a championship was steep.
However, the conversation did convey a shared enthusiasm for what the team represented. The Knicks, despite their struggles, were seen as a lock for the playoffs—a remarkable achievement after two decades of disappointment. Fans are urged to cherish this season, enjoying the highs and preparing for the inevitable lows as the playoffs approach.
Reflections Beyond Basketball
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Shifting gears, the hosts brought light-hearted commentary on the latest baseball news concerning the Yankees' long-standing ban on facial hair. The transition from basketball to baseball showcased their playful banter, touching on subjects from Yankee traditions to the meaning of true fan loyalty.
Conclusion
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The morning discussion laid bare the complexities facing the New York Knicks, transitioning from discussions about their current form to reflections on their future. From optimistic beginnings to sobering revelations about their place amongst the NBA elite, it remains to be seen how the Knicks will respond. Fans are left both hopeful and anxious as they enter the latter part of the season, craving a glimpse of the team they long for—the one that can challenge for a championship rather than just participate in the playoffs.
Tim Cook, chief executive officer of Apple Inc., greets customers during the first day of in-store sales of Apple's latest products at Apple's Fifth Avenue store in New York, US, on Friday, Sept. 20, 2024.
The move comes after Apple's chief executive met with President Donald Trump last week.
The iPhone maker faces pressure from the Trump administration over where it chooses to manufacture its products. Apple assembles most of its products in China.
Earlier this month, Trump signed an order imposing long-threatened 10% tariffs on Chinese goods on top of existing tariffs of up to 25% levied during his first presidency.
Apple said its $500 billion investment plan will include work with suppliers across the U.S. and production of content for its Apple TV+ media streaming service in 20 states, as well as new hires and research and development (R&D) spending.
Apple said it "remains one of the largest U.S. taxpayers, having paid more than $75 billion in U.S. taxes over the past five years, including $19 billion in 2024 alone."
The tech giant also said it would double its U.S. Advanced Manufacturing Fund to $10 billion from $5 billion currently, create a new manufacturing academy in Michigan, and grow its R&D investments in the U.S. to support cutting-edge fields such as silicon engineering.
Just Eat shares soar 54% after Prosus offers to buy food delivery firm for $4.3 billion
Just Eat Takeaway.com is poised to be acquired by Dutch technology investor Prosus in a deal worth roughly 4.1 billion euros ($4.3 billion).
European food delivery giant Just Eat Takeaway.com is poised to be acquired by Dutch technology investor Prosus in an all-cash deal worth roughly 4.1 billion euros ($4.3 billion).
The offer values Just Eat's shares at 20.3 euros each, representing a premium of 63% when compared to the firm's closing price on Friday.
Prosus, which is majority owned by South Africa's Naspers, already holds a 28% stake in leading food delivery company Delivery Hero.
!summarize #china #banks #economy #debt
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China Update: Economic Pressures and Geostrategic Insights
Happy Monday, everyone, and welcome to another episode of China Update, where we delve into the latest political, economic, and geostrategic analysis of the world's second-largest economy. In this edition, we’ll explore the escalating financial challenges that China faces, particularly in relation to local government debt, as well as the implications these challenges hold for both domestic and international markets.
Bond Issuance and Liquidity Crisis
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In a recent analysis, it has been revealed that China’s local governments are ramping up bond issuance to address hidden debt, exacerbating liquidity issues within the financial system. According to data compiled by Bloomberg, regional authorities plan to release approximately 1.69 trillion yuan (around 233 billion USD) in bonds during the first two months of 2025, representing an unprecedented level for this time period. Notably, about 850 billion yuan of this amount is designated for replacing off-balance-sheet debt.
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This record issuance is contributing to a liquidity squeeze as banks struggle to absorb the influx of securities. Money market rates have increased sharply because the People's Bank of China (PBOC) has adopted a tight liquidity stance, curbing major monetary easing measures. This surge in bond issuance follows China’s approval of a debt swap plan, allowing regional governments to restructure 6 trillion yuan of hidden debt over a three-year span. This pivotal strategy aims to lessen interest payments and mitigate the financial pressures faced by local governments, many of which are nearing bankruptcy.
Potential Banking Crisis and Economic Stability
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Market analysts caution that a rushed bond issuance ahead of the forthcoming National People’s Congress could further strain the already fragile banking sector. The 7-day interbank lending rate has frequently surpassed broader market benchmarks, indicative of growing funding costs amidst the rapid accumulation of new bonds. Should banks fail to effectively manage these funding challenges, it could have significant repercussions for China’s financial markets and overall economic stability.
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Chinese analysts are increasingly sounding alarms about the burgeoning risks of a banking crisis. However, the more pressing concern lies within the threat of prolonged stagnation reminiscent of Japan's economic trajectory in the 1990s. This brings us to a noteworthy development: Tokyo-based Asset Management 1 Co has ventured into China's bond market, reflecting a shift in investor sentiment driven by concerns over deflation and economic performance.
Japanese Investment and Consumer Behavior
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The firm initiated investments in Chinese debt around October 2024, betting on the potential for higher returns. Fund manager Hikaru Tanaka believes China’s economic struggles mirror the Japanese downturn of the 1990s, asserting that a similar path of stagnation is inevitable for China. Amidst a stagnating economy, investors are increasingly pessimistic about China’s growth prospects, evident in the significant uptick in Japanese investment in Chinese bonds, which rose by 53% in 2023.
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Despite delivering over 9% returns in 2024, exclusive of currency fluctuations, China’s economy is ensnared in a deflationary quagmire, with falling producer prices and stagnating consumer inflation. Households and companies, having seen substantial wealth eroded by the ongoing housing crisis, have drastically curtailed spending, leading to a shortfall in demand. Historical precedence indicates that overcoming a deflationary cycle necessitates overwhelming fiscal stimulus—a strategy that Chinese policymakers appear hesitant to adopt, given the burgeoning debt situation.
Challenges in Household Consumption
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A Financial Times analysis highlights a critical issue in China's economic framework: the limited fiscal benefits allocated directly to citizens compared to other economies with similar income levels. Despite the expansion of social welfare programs in recent years, only 6% of GDP is directed towards individual consumption services like healthcare and pensions, in stark contrast to the 38% contributed by households. This demographic disparity underscores the structural challenges faced in stimulating domestic consumption, which is vital for economic recovery.
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Economists emphasize that without significant fiscal transfers from the state to lower-income households, consumption won't meaningfully increase, as current savings levels are low. The Chief China Economist at Morgan Stanley, Robert Sing, argues that stronger social welfare policies are essential for unlocking consumer spending, a pivotal engine for economic growth. The overarching issue pivots on the low share of growth captured by households, with much income being allocated to the government sector.
Structural Reforms and Future Implications
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Analysts from the Rodian Group warn that quick fixes are unlikely to remedy the slow growth of household consumption in China. They assert that a comprehensive restructuring of the economy and fiscal system, aimed at redistributing income from the government to households, is essential for sustainable economic revitalization.
Professor Michael Pettis of Ping University elucidates that China’s low levels of household consumption paired with restrained government consumption levels necessitate running large trade surpluses, bridging the gap between domestic production and demand. This pattern, alongside China's competitive manufacturing sectors, underscores a broader economic weight that has implications beyond its borders.
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As we anticipate upcoming economic targets and stimulus measures from China’s leadership, the discrepancy between public spending and consumer demand continues to loom large. With projected increases in the central government’s planned budget deficit and additional bond issuance, the landscape remains tumultuous.
Thank you for tuning into today’s episode of China Update. As China grapples with these compounding economic pressures, we look forward to unpacking more developments in the days ahead. Have a productive week, and we’ll see you tomorrow.
Shares of Just Eat soared as much as 54.7% on Monday morning, notching a new 52-week high. The stock price was last seen trading 54.4% higher on the news.
Prosus shares fell 6.6%, tumbling toward the bottom of the pan-European Stoxx 600 index, while Delivery Hero rose 4.8%.
"We are very excited for Just Eat Takeaway.com to join the Prosus group and the opportunity to create a European tech champion," Fabricio Bloisi, CEO of Prosus and Naspers group, said in a statement.
"We believe that combining Prosus' strong technical and investment capabilities with Just Eat Takeaway.com's leading brand position in key European markets will create significant value for our customers, drivers, partners, and shareholders," Bloisi said.
!summarize #walmart #economy #unitedstates #retail #spending
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The Current State of the US Economy: A Retailer's Perspective
As we move into 2025, the landscape for consumers in the United States is changing rapidly, with recent indicators suggesting troubling trends. Major retailers like Walmart and Amazon are sounding alarms about shifting consumer behaviors and growing economic uncertainties. This shift is reflected not only in retail sales figures but also in consumer confidence metrics which have plummeted to some of their lowest levels in years.
Warning Signs from Major Retailers
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Walmart, a bellwether for the consumer economy, has recently reported an unexpected decline in consumer activity. According to their Chief Financial Officer, the company is grappling with uncertainties related to consumer behavior amidst global economic and geopolitical conditions. This sentiment of uncertainty typically signals that business is not performing as optimally as anticipated.
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Over the last few years, Walmart thrived as consumers sought lower prices, but now they are witnessing a broadening weakness across their customer base. It’s noteworthy that high-income shoppers, once drawn to the retailer for affordability, are now leveraging app-based shopping and opting for pickup services, highlighting a limitation in their willingness to engage with physical stores. In fact, Walmart is pivoting to expand its house brand offerings, a stark indication that many consumers can no longer afford name-brand goods. This trend spells trouble, as it suggests that even those with relatively higher incomes are beginning to feel the squeeze.
Broader Economic Indicators
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The Journal of Manufacturing and Services PMI figures from S&P Global reinforce the narrative of economic slowdown. The services index has fallen below the critical threshold of 50, indicating a contraction in service sector activity for the first time in over a decade. This decline mirrors the lackluster retail sales reports, painting a picture of a consumer landscape that was artificially buoyed by frontloaded demand in late 2024 and is now dissipating.
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Consumer confidence as measured by the University of Michigan has also seen significant drops. From 74 in December, it tumbled to 64.7 recently, reflecting growing disillusionment with economic prospects. High costs of living—evidenced by rising prices for basic goods and services—have created a perception of dwindling financial security, leading many consumers to retrench spending.
Economic Discontent and Behavioral Shifts
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The changing economic conditions have resulted in stagnant consumer behavior. Many households are grappling with rising prices in essentials like rent and food, creating a ripple effect that curtails discretionary spending. Despite wages appearing to rise on paper, the reality of increased living costs means that take-home pay is often lower, leading to greater financial anxiety and a reluctance to purchase costly items.
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Instead of inspiring spending, recent corporate optimism has unraveled. Executives who previously predicted an upturn post-election are now confronting the significant disconnect between perceived consumer confidence and actual market behavior. The reality is sobering—many households are facing job insecurity and increased payment obligations, which directly influences their purchasing habits.
The implications are significant. Businesses are now restructuring in anticipation of decreased demand. Reports of employment cuts, particularly in retail and services, suggest that economic growth may not be sustainable in the current environment.
A Cautious Outlook
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The overarching sentiment is one of uncertainty. As observed, previous periods of increased spending have not been followed by sustained growth but rather illusions of recovery, leading to an economic condition many are calling "stagflation." With PMIs indicating serious weakness, it raises questions about economic momentum and overall stability moving forward.
Walmart's proactive measures to adapt to emerging consumer trends underscore the challenges ahead. As the economic landscape shifts, the behaviors of everyday consumers will dictate the path forward for both retailers and the economy as a whole. It appears that we are at a crossroads, where the anticipated recovery may instead reflect a deeper economic malaise.
Conclusion
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In summary, as we enter 2025, signs of distress abound across the retail sector and national economy. With consumers exhibiting caution and retrenchment, major retailers are adapting their strategies in response to the evolving economic reality. While optimism may have fueled the last quarter of 2024, the subsequent downturn signals that maintaining growth may be far more challenging than anticipated. With many fundamental issues still unresolved, the potential for sustained economic growth remains uncertain.
The offer comes after a rocky few years for Just Eat. Like many other food delivery companies, the company's stock price collapsed in the wake of the coronavirus pandemic, which had initially boosted the firms as consumers turned to these platforms during lockdowns.
A stark shift in consumer habits since, however, led to a sharp deceleration in growth rates.
The Dutch multinational delisted from the London Stock Exchange late last year, citing an effort to "reduce the administrative burden, complexity and costs associated with the disclosure and regulatory requirements of maintaining the LSE listing." The move made Amsterdam the firm's sole trading venue.
Xerxes observed the battle from Mount Aegaleos expecting to savor a great victory but instead he saw his commanders routed and his fleet destroyed. One of the few exploits to make him smile involved his female commander, Queen Artemisia. Pursued by an Athenian ship, she purposely rammed another Persian ship to make it appear she was Greek. The pursuers took the bait and broke off pursuit of her. When Xerxes heard about this, he remarked, “today our women are fighting like men and our men like women.”
Defeated, Xerxes chose to withdraw his main army from Greece and leave a small force to winter there. Those troops lead by Mardonius camped at Boetia, far enough from Athens to allow its citizens to return to their ruined city.
In November, Just Eat Takeaway.com said it would sell its GrubHub arm to New York-based online takeout startup Wonder for $650 million — a huge discount compared to the $7.3 billion the firm paid for the U.S. food delivery app.
"Prosus fully supports our strategic plans and its extensive resources will help to further accelerate our investments and growth across food, groceries, fintech and other adjacencies. We are looking forward to an exciting future together," Jitse Groen, CEO and founder of Just Eat Takeaway.com, said in a statement on Monday.
The SEC did not respond to a request for comment.
The SEC's dismissal of the Robinhood and Coinbase cases is an early sign of the regulatory sea change for the crypto industry promised by President Donald Trump during his election campaign. Despite the meteoric rise of the price of bitcoin under the previous administration, many crypto businesses saw it as low point due to the SEC's notorious regulation-by-enforcement approach to crypto – as opposed to the creation of clear rules by which to operate – under the leadership of then chair Gary Gensler.
!summarize #germany #election #eu
This video has already been summarized: https://inleo.io/threads/view/anderssinho/re-anderssinho-33hldzt4b
Nearly half of Robinhood's $672 million transaction-based revenue in the fourth quarter came from a 700% rise in revenue tied to crypto trading, as bitcoin rallied toward $100,000 for the first time ever on hopes of more favorable policies under Trump.
Shares have gained 38% so far in 2025.
!summarize #tesla #fsd #china #approval
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Tesla Launches Full Self-Driving in China: A Game-Changer for the EV Market
Tesla has made headlines once again with the recent announcement that it is set to roll out its Full Self-Driving (FSD) software in China. The implications of this crucial development are staggering, signaling not just a potential revenue boost for Tesla but also a significant shift in the competitive landscape of electric vehicles (EVs) in one of the world's largest automotive markets.
The Announcement and Its Significance
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According to a report from Bloomberg, Tesla is preparing a software update to enhance driver assistance capabilities in its vehicles sold in China. This update mirrors the features of the Full Self-Driving technology currently available in the United States. Previously, Tesla had hinted that it was awaiting approvals for FSD rollout in Europe and Asia, and this latest revelation suggests that this update may involve Tesla's FSD version 13.
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This move is projected to unlock over a billion-dollar opportunity in the Chinese market. With an estimated 2 million potential customers currently in China, based primarily around the new Model Y, analysts suggest that even a conservative take rate of 15% could translate into approximately 300,000 customers opting for FSD—either through outright purchase at around $88,000 or through a subscription model at approximately $99 per month.
An Immediate Impact on Revenue
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The rapid deployment of FSD could have immediate revenue impacts for Tesla, potentially showing significant gains in Q1 and particularly Q2 earnings reports. Beyond the financial metrics, it represents a substantial demand lever for Tesla, especially as it competes against numerous technology-laden domestic electric vehicles. While Tesla has often been viewed as a sensible and safe choice—much akin to Volvo—the introduction of advanced driver-assistance technologies could reshape perceptions, positioning the brand as a high-tech leader within the market.
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As competitors fill the market with high-tech electric vehicles, Tesla's FSD has the potential to redefine its image among consumers. The demo experience of being driven by a Tesla vehicle using FSD will likely captivate prospective buyers, thus elevating Tesla’s status as an innovative tech leader in the eyes of Chinese consumers.
Competitive Pricing and Market Strategy
Tesla is at an advantageous point where it can adopt a competitive pricing strategy tailored for China, which could bolster the appeal of its vehicles. The possibility of introducing its FSD subscription at a lower price than the U.S. could further enhance sales. Offering a well-priced car that harnesses self-driving capabilities may resonate well with the tech-savvy Chinese market.
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Despite existing challenges in the transition from old to new Model Y versions, Tesla continues to see robust demand. The Model Y garnered around 170,000 pre-orders in just a couple of weeks, highlighting the impressive interest in Tesla vehicles which could soar even higher with FSD capabilities.
Global Market Implications
Tesla's expanding footprint in China also presents unique operational advantages. Unlike legacy automakers, Tesla can pivot production and distribution strategies based on demand fluctuations across continents. For example, if demand declines in Europe, Tesla can reallocate resources to bolster sales in the booming Chinese market, which has the capacity to produce nearly one million units annually at its Shanghai Gigafactory.
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This flexibility starkly contrasts with large automakers like GM and Ford, which are currently facing declining sales in China and subsequently shutting down operations. While many legacy companies are consolidating, Tesla's strategy allows it to thrive globally, sustaining sales momentum regardless of regional market pressures.
Conclusion: A Future Filled with Opportunity
As Tesla unleashes its Full Self-Driving software in China, the ripples of this decision will impact not just its own bottom line, but also the broader EV market landscape. With an opportunity to access 2 million potential customers and heighten its status as a tech innovator, Tesla stands poised for growth in a highly competitive environment.
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The coming months will be crucial as analysts and consumers alike examine the effects of FSD on Tesla's sales in China. If the anticipated demand materializes, it could solidify Tesla’s already significant role in reshaping not just the automotive market but also the perception of electric vehicles around the world.
As the story evolves, it remains essential for stakeholders and enthusiasts to stay tuned to updates regarding Tesla's strategies and outcomes in China and beyond.
So what we see here is a left wing of hawks and a right wing of doves. Interesting to compare it to the United States where the left wing are doves and the right wing hawks. What is the difference?
In our country Democrats favor the people and Republicans favor business. Generally speaking the Democrats worry about what can be done domestically to improve the lives of the public. That focus is more important to them than foreign policy which is complicated and takes money away from domestic needs. The Republicans favor a strong foreign policy because it protects their business interests -- more important to them than the needs of the people.
Aeschylus was considered the father of Greek drama. As a religious man and philosopher, his plays were more rough in structure as he developed the model. Sophocles brought the form to its highest level in terms of structure and balance between the story and the moral. Euripides, impatient with what came before him and overtly emotional, brought the inner thoughts and anxieties of his characters into his plays. His works represent a drop off in the traditional form. After Euripides, drama declined and it was replaced by comedy, most notably that of Aristophanes.
Dorians and Ionians
According to historians, the ancient Greek people were made up of Dorians and Ionians; tribes who migrated from the north into Greece during the Mycenaean Era. The Peloponnese was Dorian while the Attica Peninsula and the western coast of Asia Minor were populated by Ionians. Dorians had their own dialect of Greek and observed their own festival-laden calendar.
Most people who know a little Greek history are familiar with the Dorian and Ionic columns of Greek Architecture.
Spartan Timeline – The Collapse
The period following the Peloponnesian War was a disaster for Sparta. With victory came the responsibility to govern, so Sparta, as an oligarchy, sought to impose oligarchic governments on those it defeated. But the Spartans did not know how to govern others and many of their appointed governors became tyrants. A “group of thirty” ruled Athens for only a year before it was overthrown and a democracy restored. Elsewhere puppet governments were despised and resisted. Former allies conspired against the Sparta, fearing its intentions, and it wasn’t long before all the defeated Greeks were independent again.
Overseeing this Spartan decline was the king Agesilaus, who ruled from 399-360. Agesilaus was an enigma. He was never supposed to rule being the younger brother of the heir, and excelled in the Agoge despite being lame. Rival of Lysander and admired by Xenophon, Agesilaus did his best to protect Spartan honor despite the handicap of an un-Spartan-like mercenary army. Against Boetia in 398, he was severely injured and had to be carried from the battlefield. Later, his many battles against the rising power of Thebes came to nothing and the defeat at Leuctra in 371 proved the Spartan army was finished. The next year, Thebes and her allies invaded the Peloponnese and attacked Sparta itself. Beaten off, they settled for the liberating the Messenians, which ended three hundred years of the helot system.
The earthquake was a large magnitude event that caused significant loss of life in Sparta. Debate as to whether the army was seriously impacted by the loss of trainees and mature Spartiates is inconclusive, but it may have had an impact on Spartan thinking later. Immediately after the earthquake, the Messenian Helots took the opportunity and revolted. The length of their revolt is unclear, but it could have lasted several years. The Athenians sent a force of four thousand hoplites to assist Sparta after she made a request for aid, but that gesture only soured the relationship between the two Greek powers when the Athenians were not able to help prosecute the siege of the Messenian stronghold at Mount Ithome.