The Super Bowl Was Scripted
(Or not)
This past Sunday was Super Bowl LVII, pitting the Philadelphia Eagles against the Kansas City Chiefs. The game was (apparently) pretty good, but many viewers were turned off by how it ended: a controversial holding call that gave the Chiefs the ball in free kick territory.
No shot that is a penalty, some argued. Others went conspiratorial with it. Even if it were a penalty, others conceded, it would be the softest penalty ever. Perhaps lost in the outrage was the fact that the sports books had it right. Gamblers poured money into an Eagles win and within an hour after lines were set, the market had moved to favor Philadelphia. The books hedged, but were ultimately correct, taking home a modest profit. Legalized sports betting continues to dominate, with a 20% increase in bets placed on sports betting apps compared to last year. While Americans continue to get beat down by inflation and literally cannot afford to buy eggs, at least they now have the freedom to (legally) lose a prop bet on what color Gatorade gets dumped on the winning coach (it was purple, by the way).
Remember 2022 and those halcyon days of wild cryptocurrency speculation driven by low-interest rates and free money? It all seems so far away, given the implosion of several high-profile crypto projects capped off by the collapse of Sam Bankman-Fried’s FTX. Remember those shiny commercials with Larry David, LeBron James, Tom Brady, and Matt Damon? Well, this year, the amount of crypto advertisements numbered exactly zero. It seems like the mainstream adoption of crypto is finally dead in the water. Or maybe we haven’t found bottom yet.
Ron DeSantis—bigot and mass human trafficker—declared victory over Disney this week. How did we get here?
It all started with DeSantis’ so-called “Don’t Say Gay” bill, in which Florida public school teachers were barred from teaching on sexual orientation or gender identity. Disney, one of the largest employers in the state, initially took a public position of silence, even as LGBTQ staff implored the company to take a stand. Ex-CEO Bob Chapek eventually issued a milquetoast response, where he apologized to staff, both-sides-ed the issue, and unironically argued that “all of our diverse stories are our corporate statements—and they are more powerful than any tweet or lobbying effort.” Compounded by pandemic downturns at both its theme parks and at the box office and quarterly earnings that spooked investors, beloved executive Bob Iger was reinstalled as CEO to navigate the company through these troubled times.
Back in Florida, DeSantis and his state legislature vowed to take on “woke capitalism” by getting rid of Disney’s special tax district. However, when lawmakers took a look at what that actually meant—costs associated with fire protection, police, and road maintenance would be taken on by the surrounding counties and the district’s outstanding debt of almost $1 billion would be absorbed as well—they had the political courage and moral integrity to allow Disney to keep the special tax district. Instead, lawmakers passed legislation that gave the Florida governor the power to appoint the board members overseeing the tax district.
It’s unclear what effect this will have on Disney. Probably not much. Republicans are not exactly known for their oversight and opposition to business. We’re left with two takeaways: ultimately, Corporations in America have entirely too much power and politicians that engage in culture war nonsense should be treated like the unserious people they are.A Japanese professor at Yale suggested that Japan’s elderly population should consider mass suicide. He says he was taken out of context, but why this has captured the imaginations of many is due to the complex demographic puzzle Japan has been trying to solve: one of the lowest birth rate’s, an extremely old population aging out of the work force, and an overstressed pension system. Coupled with one of the most restrictive immigration policies in the world, the country is just extremely old and young people feel increasing pressure. Most developed nations have birth rates below the replacement rate, but one way—perhaps the most important way—to combat this is through immigration. We’ve read about this issue facing Japan for a while now. It really just feels like waiting for the other shoe to drop at this point.
The next time you bite into a Snickers bar, you might taste more than just a caramel center. Yum!
To end the inaugural After It Breaks newsletter, I leave you with two Super Bowl commercials. The first is this years highest rated ad from The Farmer’s Dog that will have you reaching for your pup. The second is from The Dawn Project, who paid $7 million to air footage of Tesla’s running over child-sized mannequins.
