Thursday, February 1, 2024

Black History Month isn’t corporate America’s finest hour

Target managed two gaffes in the first 18 hours.

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Today's Agenda

Harriet Tubman's Sweatpants

Today marks the start of Black History Month, which means you're about to see corporate America do and say some deeply atrocious things. Target, for example, has managed two gaffes already: First, the retailer was forced to pull a Civil Rights Magnetic Learning Activity off its shelves after history teacher Issa Tete noticed some discrepancies in the product. "This is not Carter G. Woodson — this is W.E.B. Du Bois. Peep the stache. They got the name wrong," she said. Then there is the case of the inappropriately located monogram. Or, as graduate student Tish Bullard asked in a TikTok video: "Why is Miss Tubman's name on the crotch of some pants?"

Photos via @iamtishbullard on TikTok

While I'm all for honoring Harriet Tubman's legacy as an abolitionist, humanitarian and Union spy, I nevertheless must ask: Do we really need her last name plastered on our pelvic area? No, is the answer. We do not. There are better, more tasteful ways to honor the past. How about reading a book? Or wearing a sweatshirt? Or buying a doll for your child? Nia-Malika Henderson says her daughter has a turquoise Rosa Parks sweatshirt and an Ida B. Wells sweatshirt. And she has a treasure trove of books about little Black girls dreaming of fire-engine red rockets, wearing bedtime bonnets and plotting to keep the sun up forever. "As for Black dolls, she has more than any 3-year-old could ever want or need."

It hasn't always been like this, though. When Nia-Malika was a child, books books featuring Black children were pretty much nonexistent. "At times, my mom was so desperate for us to see ourselves in books, she would use a brown crayon to make the White characters look more like we did," she writes. In school, too, there was minimal acknowledgement of Black history. "I was assigned one book by a Black author (Invisible Man by Ralph Ellison) in my 12 years of primary education at predominately Black public schools in my small Southern hometown," she recalls.

Although Nia-Malika says a lot has changed since her adolescence — Aunt Jemima and Uncle Ben are gone, for one — there's still a lot of work to do. Consider journalism: Only 40% of Black Americans say their most important issues and events are covered in the news. Recent layoffs mean that figure is unlikely to rise. About half of those who lost their jobs at the Los Angeles Times last month "belonged to at least one of the newspaper union's affinity groups representing Black, Latino, Asian, Pacific Islander, Middle Eastern and North African journalists. That's a significant loss for a newspaper anchored in a city where only about three in 10 residents are White," Fernanda Santos writes (free read). This nation needs newsrooms that aspire to look like the communities they cover.

When you read headlines about diversity and inclusion initiatives being targeted, or how it will take Black Americans 320 years to catch up to their White neighbors, it's easy to feel defeated. But Nia-Malika isn't giving up hope: "On the 1880 census there is a woman named Kizzy Jordan listed as living in Mississippi with her family. She was my great-great-great-great-grandmother. Born in 1804, she lived much of her life as an enslaved woman ... I don't know anything about who she was. There is only her name and the horrific eras she lived through. But I can imagine she must have had considerable fight in her and some hope and optimism about the future being better than her present. And this is at the core of the Black experience in America. Let us note and celebrate that this month and every month." Read the whole thing for free.

Taylor Swift's in Exile

Let me ask you a question: What's the quickest way to get Gen Z to care less about TikTok? Sure, you could tell them it's harming their academic performance. Or you could note that excessive use of social media has been linked to rising rates of teenage depression, emotional distress and self-harm. Or, or, or, you could just remove Taylor Swift's entire discography from the platform, which might be more effective? The girlies are clearly distraught. I imagine they'll grow tired of a Taylor-less TikTok:

This isn't the blank space we wanted.

Even if there is a mass exodusBloomberg's editorial board says there's a far simpler way to reduce the amount of time young Americans spend online: Ban mobile phones from schools altogether. 97% of US adolescents use their phones during class, browsing social media, YouTube and gaming platforms throughout the day. Although policymakers want to block access to social media platforms through Wi-Fi networks, kids would also still be able to use their phones to send text messages, watch videos and shop. "And regardless of how students use their phones, merely being in proximity to them impairs focus and retention, while forcing teachers to waste valuable time policing their use," the editors write.

Rather than try to control what kids do on their phones, Congress should remove the devices from schools entirely. Students should be playing the recorder, not recording "get ready with me" videos. How else will we discover the next Taylor Swift?

Skrrt Skrrt

Source: I Think You Should Leave, ​​​Netflix

What is it with car companies these days?

Volvo announced today that it's going to stop funding Polestar, its cash-burning EV offshoot. "The move appears designed to cauterize the damage to Volvo's share price," Chris Bryant writes. Shares of both companies were close to record lows, despite Volvo still having pretty decent financials. Then there's Toyota, whose affiliate Daihatsu uncovered more than 170 irregularities in safety tests in December and was forced to recall more than 300,000 vehicles last week. In the US, meanwhile, Toyota has recalled almost 1 million vehicles due to possibly faulty air bags. As Tim Culpan writes: "Standards and compliance are what's tripping up the company, and these need to be enforced from the top."

Bonus EV Reading: A Texas business court might be less predictable than a Delaware one, but it will probably be OK with Elon Musk's pay. — Matt Levine

Telltale Charts

Has mankind ever been this thirsty? Water — and the vessels we drink it from — has been transformed into a cultural phenomenon. We now have water bottle medical scares, TikTok dances and fancy ice recipes. But when it comes to the actual supply of water, we've never had so little of it. Groundwater is vanishing worldwide, but Mark Gongloff is confident we can rescue it. "As the planet warms, more people will need to develop water consciousness," he writes. There are plenty of things authorities can do preserve the supply of groundwater, such as piloting conservation efforts or introducing fair taxes. Maybe they can even come up with some viral dance videos to help curb use.

It's no secret that young people aren't happy with Starbucks. The coffee chain's double drip of drama — a messy battle with its union and anger over the Israel-Hamas war — has generated a ton of negative backlash on social media. "Up until now, Wall Street had been hesitant to give much credence to the idea that Starbucks' embroilment in a firestorm of social, cultural and geopolitical issues could impact its financial performance," Beth Kowitt and Leticia Miranda write. But Gen Z is willing to do more than just rant on TikTok and Instagram. They'll actually put their money where their mouth is. So don't expect to see many of them order Chocolate-Covered Strawberry Créme Frappuccinos this Valentine's Day.

Further Reading

Jerome Powell's off-the-cuff comment about a March rate cut hurts the Fed's flexibility. — Mohamed A. El-Erian

Lula's failure to tackle Brazil's fiscal deficit threatens economic growth. — Juan Pablo Spinetto

Although Apple's revenue got a holiday boost, Tim Cook still has many challenges ahead. — Dave Lee

The border is not Biden's problem alone, nor was it solely Trump's when he was in office. — Mary Ellen Klas

Wealthy countries can't fault Africa for producing more oil; poverty is not a viable climate strategy. — Ken Opalo

The UN relief agency for Palestinians should no longer exist, so end its purpose. — Marc Champion

So far, India's Narendra Modi has been able to do populism on the cheap. That may soon change. — Mihir Sharma

Punxsutawney Phil Isn't Out of a Job. Yet.

Tomorrow is Jobs Day — and Groundhog Day! Will economists see six more weeks of low unemployment? Tune in as Jonathan Levin joins Nick Colas for a live analysis of the numbers.

ICYMI

The mother of a Michigan shooter testified in a manslaughter trial.

Hulu is cracking down on passwords and people aren't pleased.

Scientists discover more about why most autoimmune patients are women.

Eric Adams drove to his press conference in a garbage truck.

Kickers

The tote bag outrage heard around the world.

Is coffee milk a thing outside of Rhode Island?

Australia's snake swinger saved a guinea pig.

Pennsylvania's domestic beheading drama. (h/t John Authers)

Notes: Please send coffee milk and feedback to Jessica Karl at jkarl9@bloomberg.net.

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