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Square (+2.67%) got the regulatory stamp of approval to offer cryptocurrency trading on its Cash app in New York.

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.

https://morningbrew.cmail19.com/t/j-l-ngkrhd-yhyuhjkhdk-jt/

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. 

Not to mention the economic burden of being a "gamer"

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. 

And then there are casual gaming addicts. 

• 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

Gaming is more than a social outlet—it's a profession and a land of glorious economic opportunity for a select few. 

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.

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 sq ft in 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.

Google did a quick search to see what a $550 million investment in Chinese e-commerce giant JD.com would return. The results?

• A less than 1% stake in China's second biggest e-commerce player (behind Alibaba). 
• A massive network of warehouses and delivery ops.
• A chance to work with JD.com to tackle online retail across the globe.

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

...it's also looking to win favor with China. Since China banned Google's search engine in 2010, Google's built offices in the country, opened AI research facilities, and sent Sundar Pichai over to wine and dine lawmakers.

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.

Theranos founder Elizabeth Holmes and the company's ex-president were indicted on criminal charges.

LOS ANGELES—Today, biotech magnate Dr. Patrick Soon-Shiong will officially acquire the Los Angeles Times and the San Diego Union Tribune from media company Tronc for $500 million.

Doctor who? A guy who's somehow managed to rack up every single job title known to humankind:

• Surgeon, philanthropist, entrepreneur, adjunct professor, billionaire, minority owner of the LA Lakers, issuer of over 230 patents...and now?

Newspaper owner, a title he doesn't take lightly at all. Soon-Shiong will have to work some magic on the LA Times, a paper whose staffers were basically in open rebellion last year over several questionable decisions by ownership. 

And then, of course, there's the huge challenge of navigating a newspaper industry that's struggling to adapt to the digital age. 

Maybe he and fellow billionaire Jeff Bezos (owner of the Washington Post) will talk strategy together.

If the AT&T-Time Warner approval didn't shake up media enough—the race for original content should.

Oprah Winfrey just signed a multiyear contract with Apple, which plans to take Netflix, HBO, Amazon, and any other content creator head-on.

• Apple made this clear when it poached two top Sony media execs (the guys behind "Breaking Bad" and "The Crown").
• It also committed at least $1 billion towards original content (perspective: Netflix is spending $8 billion this year).

Apple already locked in contracts with a few big names like Kevin Durant and Steven Spielberg. But Oprah's deal, which follows Netflix's multiyear contract with the Obamas, raises the bar.

Our Monday morning hot take: Apple is sitting on $267 billion in cash. If you're a big time TV or movie personality, you might be getting a call.

Hey crypto investors: it might be safe to bring back Coinbase from the sixth page of your iPhone.

The SEC's top crypto guru, William Hinman, declared that ether was not a security...which means it won't be regulated as one (the same goes for Bitcoin, which is considered a commodity).

What's ether? It's the digital token that powers the Ethereum blockchain platform. And it got a major boost following the announcement.

What he didn't disclose: The regulatory status of Ripple's XRP token. It's the third ranked cryptocurrency by market cap ($22 billion).

 What was at stake for ether.

It could be the biggest news for Chicago since the Cubs won the World Series: Elon Musk's Boring Company won a bid to build an express train to O'Hare Intl. Airport. 

But this is not your average train:

• You'll board a pod-like electric vehicle (called a "skate"). These cars will carry 8-16 passengers, leave every 30 seconds, and travel up to 150 mph in underground tunnels. Here's what a station might look like:

This contract is a game changer

For Chicago...

• As any Chicagoan will tell you, getting to da airport from da downtown "Loop" is a nightmare, whether yer taking the L train (~40 minutes) or sitting in traffic. The plan here is to whisk you out to O'Hare in just 12 minutes.

And for Musk...

• Winning this bid adds legitimacy to a company that he started as a hobby just a year and a half ago. 

Now go reward yourself with a Bean selfie, Elon. But there's still a long way to go until this thing actually gets built.

As you mull it over, consider this jaw-dropping report from China:

JD.com, a Chinese e-commerce behemoth, claimed it could receive, pack, ship, and deliver 200,000 orders a day across China. But get this, it employs just four workers at the fulfillment center. And those employees' jobs? To service the robots that fulfill the orders...

Final food for thought: In January, the World Economic Forum and Boston Consulting Group said that by 2026, over 1 million Americans could lose their jobs to automation.

+ There's always another side to the story: "AI Doesn't Eliminate Jobs, It Creates Them."

@JW Insider  Ah!  Now I see what you are referring to. Thx.

Just curious as to why you think Angela Merkel is the most powerful?

I wouldn't have thought that.

More powerful than Donald Trump?

Kate Spade reportedly didn't profit from the sale of her company to Coach

https://finance.yahoo.com/video/kate-spade-reportedly-didnt-profit-165659548.html

FBN's Neil Cavuto on the death of designer Kate Spade and reports she wasn't receiving any money from Coach's $2.4 billion acquisition of the Kate Spade brand.

An explosion at an iron ore mine in Benxi, Liaoning, kills 11 people, 23 others were rescued from the site, while 2 more remain trapped.

Ethiopia agrees to "fully accept" the outcome of the Algiers Agreement of 2000, which ruled that disputed areas, including the border town of Badme which Ethiopia currently occupies, are Eritrean territory.

The European Court of Justice rules that EU countries that have not legalised same-sex marriage must still offer same-sex spouses the same residency rights as heterosexual couples under freedom of movement laws.

Prostitutes in Brussels' Rue d'Aerschot red-light district go on strike today after one of their colleagues is found murdered this morning.

The Government of Puerto Rico says that it will comply with a Superior Court order to release all death certificates issued after Hurricane Maria hit the U.S. territory. The court order came after CNN and Puerto Rico's Center for Investigative Journalism sued the territory's government amid allegations of undercounted fatalities.

The death toll for the Volcán de Fuego eruption in Guatemala rises to 75 people.

The Syrian government re-opens the Homs–Hama highway after it was closed for seven years.

400 migrants try to scale the Ceuta border fence, with most of them repelled. It is the first such incident in seven months.

https://www.thenewsguru.com/400-migrants-storm-border-spanish-exclave-north-africa/

A woman in Australia is reported dead from hepatitis after consuming frozen pomegranate. Health authorities have stated that 24 such cases were related to products by Entyce Food Ingredients.

https://www.bbc.com/news/world-australia-44378911