Hey Snackers,
Happy hump day. If six hours of sleep is truly as bad as no sleep, we might as well go full Edward Cullen.
The Nasdaq soared ~4% yesterday as tech shares rebounded after a rough few weeks. The House will likely make a final vote today on the $1.9T stimulus plan.
The labor force awakens... and Bezos has a problem. Amazon workers in Alabama are pushing to unionize their warehouse, which would create the first Amazon union in the US. They want job security and better working conditions. Amazon wants them to stop.
Power in numbers... By uniting workers, labor unions have leverage to improve working conditions for groups they represent. Think: negotiating contracts with employers on wages, benefits, and hours. While they're still common in Europe, they've fallen out of favor in the US: the unionization rate went from 35% in the mid-1950s, to 11% in 2020.
The Union Awakening transcends collar colors.... Unions are typically associated with blue-collar jobs (like car manufacturing). In recent years, we've seen white-collar unions emerge. On the media side, BuzzFeed employees formed a union in 2019. On the tech side, hundreds of Google employees formed a rare Silicon Valley union this year. Since Googlers' median pay is ~$200K/year, their union is focused on social issues and HR policies. For Amazon warehouse workers, it's all about job security and working conditions.
The race to zero... In recent years, companies have pledged billions to reduce their carbon emissions: from Amazon pledging to become carbon-neutral by 2040, to Microsoft pledging to become carbon-negative by 2030. To cut emissions, companies generally invest in renewable energy (like: wind and solar) and carbon offsets (like: paying for tree plantings). But a less common way is gaining traction...
Counterintuitive... The most common commercial use for captured carbon has been... using it to squeeze oil and gas out of the ground. But now, companies are making moves to sell carbon capture for green purposes.
There's never been a greener time... to sell carbon-removal solutions. President Biden has pledged $2T to clean energy innovation, partly through subsidies for green tech (and his admin has supported carbon capturing). Oil giants are blamed for climate change, and Big Tech companies are also carbon-spewers. Their desire to change, combined with government incentives, could make carbon capture a big biz: Exxon says it'll be a $2T market by 2040, and that it's the cheapest way to address emissions.
Authors of this Snacks own shares of: Amazon and Shopify
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