Game over

MARKETS

• Markets: The Dow fell for the fifth straight day as investors remained nervous about U.S.-China trade relations. And they had good reason to be...
• Trade war update: President Trump threatened to place a 10% tariff on another $200 billion worth of Chinese products.
• Crypto: Square (+2.67%) got the regulatory stamp of approval to offer cryptocurrency trading on its Cash app in New York.

GAMING

Are We Gaming Too Much?

The World Health Organization (WHO) wants you to put down the controller. "Gaming disorder" is officially making its debut appearance in a new version of the U.N. org's International Classification of Diseases.

What's gaming disorder? It's when gaming becomes so addictive it affects relationships and rational behavior. So basically, a drug.

And just like a drug, gaming addiction can lead to anxiety, depression, and suicidal thoughts, according to the WHO.

更不用说成为“玩家”的经济负担

On the extreme end of the spectrum, there's Daigo-a 31-year-old with severe gaming disorder: he spent $70,000 on in-game purchases for Sony's popular Fate/Grand Order game.

然后是休闲游戏吸毒者。

• They occasionally drop out of college and can't hold jobs.
• If they hope to receive therapy, it can cost up to $30,000 for the first 7 weeks.

That's not a problem for everyone

游戏不仅仅是一个社会渠道，而且是一个专业，也是少数人拥有光荣经济机会的土地。

Forget esports and gaming tournaments (where the world's top players earn $200,000 a year) and meet Ninja-an incredibly successful Fortnite player.

He makes $500,000 a month. How (you ask as you hand in your 2 weeks notice)? Because millions of users pay Twitch-a live streaming service for personable gamers-$4.99 a month to watch Ninja play. Ninja splits that revenue.

But Ninja's one in a billion

Actually, 2.6 billion-that's the number of people around the world who play video games (one-third of the global population), while only a couple hundred are making over $100,000 a year in prize money.

That said, the gaming industry could grow 30% to $180 billion in the next three years. There's clearly increasing demand, but expect the WHO to play the parent as the industry grows up.

E-COMMERCE

Google Searches for E-Commerce Partners, Lands on JD.com

Google进行了快速搜索，以了解中国电子商务巨头JD.com的5.5亿美元投资。结果？

• A less than 1% stake in China's second biggest e-commerce player (behind Alibaba).
• A massive network of warehouses and delivery ops.
• 有机会与JD.com合作解决全球在线零售业的机会。

But as Google eyes e-commerce (and Amazon)...

...也希望与中国赢得青睐。自从中国于2010年禁止Google的搜索引擎以来，Google在该国的建造办事处开设了AI研究设施，并将Sundar Pichai送往葡萄酒和用餐议员。

But so far, China's remained query intolerant.

Best case scenario: Google slides into three markets (U.S., Europe, and SE Asia) using JD.com's incredible capacity to fulfill up to 200,000 orders in one day...from one facility...with only four human workers...Then? China changes its mind about Google search.

AUTO

Pop Quiz: Can You Identify This Building?

Alright, we'll tell you: Michigan Central Station in Detroit.

It's been abandoned since 1988, but today, we get a glimpse of its bright future:

• Ford (+0.93%) bought the building in May, and it's announcing its ambitious plans in a celebration this morning.
• The company, which also bought up nearby properties, will eventually occupy 1.2 million sqftin the station's neighborhood (called Corktown). The Corktown campus will be "an innovation hub for Ford's vision for the future of transportation."
• Why we're watching the livestream: Detroit native Big Sean will be performing.

Bottom line: Michigan Central Station is more than a building-it's a symbol of Detroit's rise and fall...and current renaissance. For Ford to come in and open it again is a really exciting moment for the city.

WORKFORCE

Big Companies Scoop Up More Workers

NYT writer David Leonhardt grabbed his shovel, strapped on his oxygen mask, and went down the rabbit hole, analyzing an obscure Census dataset on the size of businesses in America.

And when he emerged months later (slightly woozy, but coherent), he found an interesting trend:

• In 1989, small companies (fewer than 50 workers) employed 32.4% of American workers. In 2014? That fell to ~27%.
• Where'd they go? Huge companies. In 2014, firms with over 10,000 workers employed 28% of all workers, a big jump from 24% in 1989.

Leonhardt paints the picture: "The hardware store has given way to The Home Depot. The local hospital and bank are owned by a chain. The supermarket is Whole Foods, which is now owned by Amazon."

Bottom line: Leonhardt worries that the balance is shifting too far in favor of the giants, which could spell bad news for worker pay, consumer prices, and effective policy.

+ In the spirit of debate: Why we're wrong to vilify big business.

PUBLIC RELATIONS

Microsoft Is "Dismayed" About Separation Policy

Microsoft (+0.73%) decided to speak out against the Trump administration's policy of separating children from their parents at the southern border.

But that's just part of the story.

The rest of the story: Microsoft is supplying its Azure technology to the agency responsible for carrying out the policy, U.S. Immigration and Customs Enforcement (ICE). In a January blog post, it said it was "proud" of its work with the agency...a statement that made it a punching bag for anti-ICE activists when it was unearthed recently.

So with that in mind, here's what Microsoft had to say about the separations:

• "As a company, Microsoft is dismayed by the forcible separation of children from their families at the border."
• "As a company Microsoft has worked for over 20 years to combine technology with the rule of law to ensure that children who are refugees and immigrants can remain with their parents."
• “我们敦促政府改变其政策nd Congress to pass legislation ensuring children are no longer separated from their families."

WHAT ELSE IS BREWING

• Elon Musk revealed in a company-wide email that a disgruntled Tesla (+3.53%) employee "conducted quite extensive and damaging sabotage" to the automaker.
• Audi's CEO was arrested in connection with VW's dieselgate scandal.
• Apple's iOS 12 will automatically share your location with emergency services when you call 911.
• SurveyMonkey confidentially filed for anIPO.
• Fujifilm is suing Xerox (-0.62%) for over $1 billion after it called off a merger last month.
• Disney (-1.64%) will likely add cash to its $52.5 billion all-stock deal for Fox's assets. This follows Comcast's $65 billion all-cash offer for those same assets last week.

TITLE

BREAKROOM

奥巴马IS READING
The 44th president dropped his current reading list in a Facebook post. The one that caught our eye? The New Geography of Jobs by Enrico Moretti. Obama called it "a timely and smart discussion of how different cities and regions have made a changing economy work for them."

BRAIN TEASER
阅读下面的句子，并确定四个大写单词的共同点。

As you put down your bowl of STEW and take your SEAT, you let out a SHOUT and leap back up; you sat on a THORN.

(Answer located at bottom of newsletter)

Breakroom Answers

Brain Teaser
They are anagrams of the four directions: WEST, EAST, SOUTH, and NORTH.