INBOXIFY ORIGINAL's [01/September/2023]

Good morning. Remember meme stock mania of 2021 when words like “tendies,” “Roaring Kitty,” and “GameStop shares rise 144% in a day” all made sense?

TECH

Amazon and Google call a smart speaker truce

Illustration: Francis Scialabba, Photo: JBL

Tired of yelling at Alexa when you mean to yell at Google? Big Tech has found a solution.

This week, audio company Harman announced its new line of JBL Authentics: first-of-their-kind smart speakers that will simultaneously deploy both Amazon’s Alexa and Google Assistant.

How it works: The speakers, in addition to looking sick on your credenza, are unlike other assistant-agnostic speakers. You don’t have to manually switch between Alexa and Google or pick one during setup. Asked Google to play a song? You can tell Alexa to pause it.

Historically, Amazon and Google have not been interested in functioning seamlessly together. But this move toward interoperability comes as the Big Tech competitors face a flagging market for smart home devices and fierce competition for both assistants from rapidly advancing AI systems.

There’s a lot to overcome: Smart speaker shipments saw their sixth consecutive quarterly drop in the first quarter of this year, plunging by 30%, according to research firm Canalys. Amazon’s Alexa division was reportedly on track to lose $10 billion last year and was targeted in the company’s layoffs. Google has similarly struggled to generate buzz or significant revenue from its Assistant.

INTERNATIONAL

A Chinese card game is now a vital business skill

NurPhoto/Getty Images

Every country has its own social activity used to spur business deals, like golf in the US and sauna in Finland, but these days in China, it’s all about “throwing eggs.”

That’s the translated name of the pokerlike card game Guandan that has grown into a phenomenon among Chinese business elites as the US and China become less economically entwined.

Foreign investment in China plunged to a 25-year low this spring, so Chinese dealmakers chasing yuan increasingly find themselves schmoozing with local bankers and regional government officials who dole out financial incentives to key industries—and mastering the four-person strategy game has become a reliable way to bond with them. Meanwhile, the importance of having a good Guandan face is only growing since President Biden moved to restrict US investment in Chinese AI, quantum computing, and semiconductor companies earlier this month.

But the Chinese government will probably be watching for foul play. In 2014, the country’s state media urged government officials to stop playing mahjong, claiming it facilitated corrupt deals.

Zoom out: The slowdown in foreign investment comes as the Chinese economy is also dealing with slumping exports, sluggish consumer spending, record youth unemployment, and deep trouble in its crucial real estate sector.

TRAVEL

Google Flights upgraded its cheap airfare tracker

Illustration: Francis Scialabba, Photo: Google

Buckle your fanny pack: Airport dads are about to be even more responsible now that Google Flights is rolling out new tools for cost-conscious travelers.

PSA: Google announced yesterday that the beginning of October is projected to be the best time to book a domestic Thanksgiving or mid-December flight this year. For US → Europe trips, prices are only expected to increase with time, especially once you’re less than 72 days out.

The days of widespread near-departure price dips may be over for now, but Google Flights promises it can still help you find cheap tickets based on trend data with…

1. Cheapest time to book: Before its recent upgrade, Google Flights already labeled listed ticket prices as low, typical, or high compared to past averages, but now some listings feature a date range for when flights will cost the least.

2. Price tracking: Opt-in notifications alert you to price drops for specific dates or for any time in the next three-to-six months.

3. Price guarantee: A colorful badge appearing next to some flights means you’ll be reimbursed via Google Pay if the ticket price drops after you hit “purchase.”

Zoom out: These updates take aim at other airline ticket services like Kayak and Hopper, which offer similar features but charge extra for their versions of price guarantees.

LABOR

The auto industry may be speeding toward a big strike

Bill Pugliano/Getty Images

American auto workers might ditch the assembly lines for picket lines next month. The nearly 150,000 United Auto Workers (UAW) members employed at the Big 3 in Michigan voted overwhelmingly this week to authorize a strike if Ford, GM, and Stellantis don’t reach a deal with the union before the current contract expires on September 14.

A work stoppage at the largest carmakers in the country could be the economic equivalent of a head-on collision.

• A 10-day strike at all three would cost a whopping $5 billion, Anderson Economic Group estimates.

• And good luck shopping for a new ride: A prolonged strike could empty dealer lots. Car inventories are already near an all-time low, while car prices sit near record highs.

What might be on the picket signs?

The UAW asserts that workers deserve to share in the automaking trio’s successes. GM and Stellantis raked in record profits in recent years, and Ford has also seen strong earnings.

The union is demanding…

• A 40% wage increase over the term of the next four-year contract, and a 32-hour workweek (instead of the current 40 hours) without pay cuts.

• The return of benefits like company-provided pension plans and cost-of-living pay bumps that workers lost shortly before the government stepped in to bail out the auto industry during the 2008 financial crisis.

The UAW is also seeking provisions to protect workers as the industry shifts to EV production, which tends to require less labor, often for lower pay.

Looking ahead…the union could launch a work stoppage at just one or two of the automakers or all three (which would be a historic first) if a deal isn’t reached. Analysts think a Stellantis strike is the most likely, given that UAW’s firebrand president, Shawn Fain, dramatically tossed its contract proposal in the trash on a Facebook Live.

• Put on a movie or binge a series.

• Challenge friends to a game night.

• Treat yourself to a spa night at home.

• Give yourself a makeover.

• Cook a nice meal.

• Treat yourself to dessert or a cocktail.

• Read a book or magazine.