February 3, 2021

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Step 1: Start a company. Step 2: Get Elon Musk to tweet about it.

Musk Leaves Twitter’s Orbit

Craig Bailey-Florida Today via USA TODAY NETWORK

Elon Musk has the power to send the stock market into a frenzy with just one tweet.

On Tuesday, however, the Tesla and SpaceX CEO said he is “Off Twitter for a while.” 

In just the past week, his posts on the platform have caused quite a stir.

  • Jan. 26: Musk tweeted “Gamestonk!!” and helped push GameStop’s stock price as high as $243 in after-hours trading, a 62% surge.
  • Jan. 26: Etsy shares rose premarket after Musk tweeted, “I kinda love Etsy.”
  • Jan. 27: Musk’s praise for “Cyberpunk 2077,” and announcement that Tesla’s latest model will run the game, bumped up Cyberpunk publisher CD Projekt’s stock by 19% — its biggest jump since June 2015.
  • Jan. 29: Musk added “#bitcoin” to his Twitter bio, briefly boosting its price by as much as 20%.

Musk’s social media activity hasn’t always gone over well. In 2018, the SEC sued him for tweeting that he secured funding to take Tesla private.

He went on a Twitter hiatus after the debacle, but returned with restrictions on tweeting about Tesla’s financial information.

“I have to be careful what I say,” Musk said of his social presence during an appearance on audio-chat app Clubhouse over the weekend. “It can affect the market.”

Sports Betting at Sea

Princess Cruises

Sports betting fans now have the chance to wager at sea. 

Princess Cruises is launching Ocean Sportsbook, which it says is the first opportunity to wager on sports from a cruise ship. 

The sportsbook will be aboard the cruise line’s MedallionClass ships that are expected to return to service later this year. 

The offering will be powered by Ocean Casino, a digital casino that allows mobile wagers on traditional games like blackjack, slots, and roulette. Ocean Sportsbook will allow fans to bet on the NFL, NHL, NBA and MLB, college basketball and football, and a bevy of international events.

Guests will be able to place bets via a proprietary app when the ship is in international waters or wherever permitted by law.

The move by Princess Cruises comes as sports betting experiences tremendous growth. More than $20 billion has been wagered with U.S. sportsbooks since 2018 despite only 19 states regulating sports gambling, per ESPN.

“Taking a cruise vacation no longer means being disconnected from a big game, an iconic event, or friends and family,” said Jan Swartz, president of Princess Cruises.

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At-Home Golf Equipment Sales Surge

Erin Bormett/Argus Leader

From bicycling to snowshoeing, various outdoor activities have seen a pandemic-induced surge in interest. New sales numbers show that the trend is diversifying. 

“While this trend has shined since March, different products are rising to the top of the fastest-growing list month over month,” said Matt Powell, vice president and senior industry advisor at The NPD Group. 

Highest growth sports goods in outdoor and recreation categories in December:

  • Golf nets and screens — Up 221% year over year
  • Electric bicycles — Up 189% 
  • Portable power — Up 156% 
  • Standup paddle boards — Up 151% 
  • Pilates reformers — Up 140% 

“Consumers continue to invest in various equipment they would typically be using in a gym or studio,” Powell added. “The growth in portable power tells us that consumers are extending their home into their yards and hitting the trails, bringing the modern day essentials along with them.”

Backcountry-related equipment sales in the U.S. grew 76% in the first few months of last year’s snow season, according to The NPD Group.

Prior to that, bike sales were up nearly two-thirds over the prior year in the spring.

Foreign Gamers Find Opportunity in US

Jeff Curry-USA TODAY Sports

U.S.-based esports teams are starting to develop an international talent pipeline in hopes of leveling the playing field.

Asian countries have overwhelmingly dominated esports competitions, thanks in part to wider scale acceptance of esports as a legitimate career path. 

Many gamers in countries like China and South Korea begin competing as children, and those who become professionals practice for up to 18 hours a day, according to The New York Times. 

“League of Legends” is the highest profile game in the esports space, and its 2019 world championships had more than 100 million viewers. Asia-based teams have won nine out of 10 world titles in the event.

  • U.S. esports teams are luring Asian talent with large salaries and opportunities outside the sport — the same recruiting tactic employed by Major League Soccer to bring in notable European players.
  • American teams have recruited “at least 40” esports players from Asia since 2016, according to The New York Times, and a “similar number” from Europe.

Outside of large salaries, opportunities like attending American colleges and universities have also attracted Asian-born players. Several institutions across the country are building esports programs. 

In November, Taiwan’s Hu Shuo-Chieh signed a record-breaking two-year, $6 million contract with U.S. based team TSM. 

As more major brands like Marvel Entertainment and Miller Lite dive into esports, the hunt for talent will only heat up.

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Conversation Starters

Conversation Starters

  • The Los Angeles Angels suspended pitching coach Mickey Callaway, pending an investigation into allegations of lewd behavior from five women reported by The Athletic on Monday. 
  • The NBA is planning to require that all players wear K95 or KF94 masks at all times masks are already required, ESPN reported. The policy will take effect “sometime in the next week,” after the league distributes the masks to all teams. 
  • Floyd Mayweather’s fight against YouTuber Logan Paul, originally scheduled for Feb. 20, has been postponed. Fanmio, the online platform set to host, said that it would soon announce a new date with “new exciting details.”
  • Tokyo Olympics organizers reiterated that they plan to hold the games and will provide significant health and safety guidelines today. Get more headlines like this in Sports Section, a free, daily sports newsletter. Click here to subscribe.

Question of the Day

Have you taken a cruise in the last five years?

 Yes   No 

Tuesday’s Answer
43.2% of respondents listen to their podcasts on Apple Podcasts; 34.7% use Spotify; 22.2% use another platform.

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Written by Abigail Gentrup, Justin Byers, Torrey Hart

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