Good morning. Sure, an iPad is cool, but you know what your cousins really want for the holidays? The gift of knowledge. Free newsletter subscriptions have been deemed the "hottest present of 2021" by 4 out of 4 Morning Brew writers, so if you want to keep up with the trends, share the Brew far and wide this holiday season. When you do, you'll earn free swag from us, including stickers, a sleek notebook, and even the iconic Brewneck. Have a great day and don't work too hard! —Neal Freyman, Matty Merritt, Jamie Wilde | | | |  | Nasdaq | 15,521.89 | | | | | S&P | 4,696.56 | | | | | Dow | 35,753.89 | | |  | 10-Year | 1.455% | | | | | Bitcoin | $48,773.19 | | | | | Tesla | $1,008.87 | | | | *Stock data as of market close, cryptocurrency data as of 6:00pm ET. Here's what these numbers mean. | - Markets: Stocks gained for the second straight day as a mini "Santa Rally" picks up steam. Tesla made its grand return to the $1 trillion market cap club after Elon Musk said he was "almost done" selling 10% of his stake.
- Economy: Consumer confidence rose this month to its highest level since July, showing that Omicron and inflation concerns are no match for the formidable American shopper.
| | The Matrix It's probably not a coincidence that on the same day the new Matrix is released we get great news about pills. Yesterday, the FDA authorized the use of Pfizer's antiviral pill for people infected with Covid. The pill is the first Covid treatment made available outside of the hospital, and, because of the convenience factor and low cost, experts say it'll be a game-changer for limiting the number of Covid deaths. How does it work? People ages 12 and up deemed most at risk of hospitalization can take the drug orally at home within five days of developing Covid symptoms. If they do, a visit to the ER will likely be unnecessary: A key study showed that the pill, called Paxlovid, reduced the risk of hospitalization or death by 88% in vulnerable, unvaccinated patients. - Even better, Paxlovid has also been shown to be highly effective against Omicron.
Big picture: Covid pills like Paxlovid (and another from Merck, which is also due for FDA clearance) aren't considered replacements for vaccines. And early supplies of Paxlovid will be limited until Pfizer can accelerate production. Still, one of the best Christmas presents we could've hoped for is a drug that protects the most vulnerable people from the worst effects of Covid. Here's what else is happening in the world of Omicron Is Omicron less severe? Could be. People infected with Omicron in South Africa are 80% less likely to be hospitalized than those infected with other Covid strains, a new study found yesterday. Other data from Scotland showed that the risk of hospitalization from Omicron was two-thirds lower than from Delta. Researchers cautioned that Omicron could still lead to overwhelmed hospitals just by the sheer number of people it infects. Shorter isolation time in the UK: People who test positive for Covid in the UK could leave quarantine in seven days as opposed to the previously required 10, the British health minister said yesterday. But to get out of isolation in the shorter timeframe, you need to pop negative lateral flow tests (aka rapid tests) on two consecutive days. Btw, the US is also considering reducing quarantine times for people with breakthrough cases. Israel <3 its boosters: The country plans to offer a fourth Covid vaccine dose to immunocompromised people, everyone over 60, and health care workers in order to blunt the effects of Omicron. Test hoarders, beware: Walgreens, CVS, Amazon, and Walmart are all limiting the number of at-home Covid tests you can buy in response to high demand.—NF | | After months of menacing "Don't forget to set up autopay" emails from your loan provider, you can tell them to lose your address for the next 90 days. Yesterday, President Biden extended the freeze on student loan payments and interest accrual to May 1. A moratorium on student loan payments has been in place since March 2020, but after receiving a number of extensions, it was set to expire on Jan. 31. Less than two weeks ago, White House Press Secretary Jen Psaki told reporters that there wouldn't be any more extensions—but Biden said the still-raging pandemic changed those plans. - According to a survey by progressive think tank Data for Progress, 49% of roughly 500 student loan borrowers felt "not at all confident" they'd be able to make payments that started on Feb. 1.
Big picture: Before he was elected, Biden said he supported canceling $10,000 in student loans per borrower. He's facing growing pressure from students and progressive politicians to make good on that campaign pledge, but some members of his party, like New York Rep. Alexandria Ocasio-Cortez, have urged him to cancel student debt altogether.—MM | | Giphy If you dropped the ball on your sister's gift this holiday season, you're going to have to find an excuse other than "supply chains." Despite ominous warnings of barren shelves and in-demand electronics stranded on cargo ships, most people haven't had any issue with getting their gifts delivered in time for Christmas, the NYT reports. - UPS and the postal service delivered about 99% of their packages on time or with minimal delays, according to ShipMatrix.
- FedEx wasn't far behind, at 97%.
In fact, by one measure, UPS, FedEx, and the postal service are delivering packages faster now than in the post-Thanksgiving period in 2019. What happened? As the legendary basketball coach John Wooden once said, "When you fail to prepare, you're preparing to fail." And prepare retailers did—by beefing up fulfillment staff, sending in orders ahead of time, and encouraging shoppers to buy gifts much earlier to ease the crunch. 26 of UPS's 30 largest retail customers offered substantial deals before Black Friday, a company exec told the NYT.—NF | | If you don't already know, Morning Brew is on YouTube! Our shows cover the tech, trends, and companies you care about, but we do it in a way that won't make your eyes burn from jargon or boredom. If you're wondering how the world works, well, that makes two of us—but let's figure it out together. Check out some of our newest shows: - Street Value: On the streets of NYC, we test people's knowledge of NFTs, crypto, and—most importantly—Elon Musk tweets.
- Point of Return: We learn from regular folks, not financial advisors, about the best investment they ever made.
- Brew Breakdown: We break down questions like: WTF is a credit score? How are hip-hop artists making bank with NFTs? How is the NIL changing college sports?
- Founder's Journal: Morning Brew cofounder and executive chairman Alex Lieberman gives you, the business builder, the tools you need to think better, in order to build better, whether that's building a business, a team, or a new product.
| | Charly Triballeau/Getty Images Stat: Tokyo is facing a $12.7 billion bill for hosting the Olympics this summer, nearly twice as much as originally planned. But going over budget is common for Olympic host cities, and Japan's miscalculation was actually far less egregious than most—the average cost overrun for cities hosting the Olympics since 1960 is 172%, according to Oxford researchers. Quote: "Very disappointed in this product. No scent." Angry Yankee Candle customers are increasingly leaving 1-star reviews on Amazon, and it could possibly be a result of the latest Omicron wave. Very crude research has shown that "no smell" complaints for Yankee Candles has correlated with spikes in case numbers over the last two years. Read: This scientist created a rapid test just weeks into the pandemic. Here's why you still can't get it. (ProPublica) | | The Megawatts on YouTube Tesla is under fire for allowing drivers to ditch the steering wheel for the joystick. Yesterday, federal auto regulators at the National Highway Traffic Safety Administration (NHTSA) revealed they're investigating the automaker over a new feature that lets you game and drive at the same time. The backstory: An update sent to Tesla vehicles this summer enabled "Passenger Play"—which allows solitaire, a jet fighter video game, or a strategy game to run on the car's main console screen while someone's driving. It went largely unnoticed until a NYT report put it on the hot seat earlier this month. The NHTSA argues Passenger Play is dangerous not only because the driver can simply click the "I am a passenger" button and play, but also because a passenger playing on Tesla's diner menu-sized screens can be distracting. The agency is already investigating Tesla vehicles for its Autopilot software, which steers, slows, and speeds up cars on its own. Autopilot has been reportedly connected to 11 crashes of stationary first-responder vehicles and has faced criticism for allowing drivers to take their hands off the wheel and eyes off the road. Looking ahead…if the NHTSA finds fault in its preliminary investigation, it could upgrade its probe to what's called an "engineering analysis," the final phase before issuing a recall.—JW | | - TikTok was the most popular site on the internet in 2021, beating out Google for the top spot, according to Cloudflare.
- Amazon workers at a Staten Island warehouse refiled a union petition with the National Labor Relations Board. They withdrew their first request for a union vote last month.
- In more Amazon news, its Amazon Web Services cloud network suffered its third outage this month.
- Jack Dorsey has been beefing with crypto investors on Twitter about the future of Web3.
| | Save the best gift for yourself. Invest in reAlpha, the company revolutionizing the $1.2T short-term rental market. With a five-year plan to grow its valuation to a multi-billion dollar level, it's a gift that truly won't stop giving. Stock your stuffing with some cash here.* We've done the gifting heavy-lifting: The 2021 Sidekick Holiday Gift Guide is bursting with snazzy finds, like the Braun Series 9 Pro, an electric shaver that puts its German craftsmanship to work to achieve the perfect shave. Find it and more here.* Two more 2021 roundups: The 50 best cover songs of 2021, including a ska rendition of Dua Lipa's "Levitating." And 2021 in charts. What just happened: Watch this scrumptious-looking short rib ragu come together in less than 60 seconds. Spice up your OOO message: Before each major holiday, the Brew whips up unconventional OOO message templates for our readers to unleash on unsuspecting emailers. Check them out here. *This is sponsored advertising content | | Brew Mini: We're going hard with the Christmas-themed puzzles, and no Scrooge can tell us to do otherwise. Play today's Mini here. Three Headlines and a Lie Three of these news headlines are real and one is faker than your mom's 100-calorie Oreo packs. Can you guess the odd one out? - An extinct millipede the length of a car once roamed northern England
- Cortana would be named Bingo if Steve Ballmer had his way
- Japanese officials beg public to drink more milk as glut worsens
- One of the most popular gifts this year is exclusive TikTok sounds
| | | TikTok sounds aren't one of the most popular gifts this year. That would be newsletter subscriptions, of course. | | | Written by Neal Freyman, Jamie Wilde, and Matty Merritt Was this email forwarded to you? Sign up here. WANT MORE BREW? Industry news, with a sense of humor → - Emerging Tech Brew: AI, crypto, space, autonomous vehicles, and more
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