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Here are the headlines you Need2Know for Monday, March 28, 2022:
BIDEN BACKTRACK
President Joe Biden caused a stir Saturday when he said that Russian President Vladimir Putin “cannot remain in power.” The White House quickly clarified/backtracked (depending on who you ask), to say that Biden meant that “Putin cannot be allowed to exercise power over his neighbors or the region," not that he was implying any sort of attempt at regime change. Now that Biden is back in Washington, this ad-libbed declaration will go down as another headline from a trip where the POTUS worked with NATO and G7 allies to unite the world against Russia’s invasion. While some praised Biden’s frankness in denouncing Putin, others saw the comment as a reckless move that could cause further de-escalation. CNBC
RUSSIAN ROCKETS HIT LVIV
Just a few hundred miles from Warsaw, where President Biden was paying a visit, two Russian rockets struck the western Ukrainian city of Lviv. Lviv had become a place of refuge and previously spared major shelling. Ukraine President Volodymyr Zelenskyy says Putin is trying to split his country in two and has repeatedly requested fighter jets and tanks to help combat strikes. Sunday he called out Western countries for not having the courage of those on the ground defending Mariupol. “If only those who have been thinking for 31 days on how to hand over dozens of jets and tanks had 1% of their courage,” he said. AP
THE OSCARS
THE GOOD: "CODA" became the first streaming movie to win Best Picture, with Will Smith (more on him in a second) taking home the Best Actor award for "King Richard" and Jessica Chastain winning Best Actress for "The Eyes of Tammy Faye." Troy Kotsur took home Best Supporting Actor for his role in "CODA," becoming the first deaf man to win an Oscar for acting, and Ariana DeBose won Best Supporting Actress for "West Side Story," becoming the first openly queer woman of color to win an award for acting. Rita Moreno won the same award for the same role 60 years ago. ALL THE WINNERS
THE BAD(ASS): Rachel Zegler, the star of "West Side Story" who didn't receive an invitation to the Oscars until a week ago, presented the award for Best Visual Effects last night, but not without a little shade. Her co-presenter, Euphoria's Jacob Elordi, said, "Growing up in Australia, I never thought that I would stand up on this stage," to which Zegler replied:
THE UGLY: Will Smith got up on stage and smacked presenter Chris Rock across the face for making a joke about his wife's shaved head. Jada Pinkett Smith has spoken publicly about living with alopecia. When Smith later got up to accept his Best Actor award, he apologized to the Academy and fellow nominees, but not Rock directly. While the video of the smack heard 'round the world goes viral, the LAPD says Rock has declined to press charges. THE VIDEO
The Fresh Prince would not approve.
BILLIONAIRE TAX INTRODUCED
When Biden introduces his budget today, he is expected to unveil a minimum 20% income tax of U.S. households worth more than $100 million. If the proposal makes it through Congress, which is far from certain, The “Billionaire Minimum Income Tax” will go after incomes as well as unrealized gains, taxes that don't currently kick in until stock is sold. The Biden administration hopes this trims around $360 billion off the deficit over the next decade. For Elon Musk and Jeff Bezos, economists predict the tax could cost them an extra $50 billion and $35 billion, respectively. NY TIMES
THIS is why I choose not to be a billionaire.
AMAZON UNION VOTE
Momentum is picking up for Amazon’s first ever unionization. Workers at the Staten Island facility have started to vote on joining the Amazon Labor Union, with voting running through March 30. While the consensus among employees is gratitude that their voices will be heard, there’s still some hesitancy about the effectiveness of unionization. Workers at the Staten Island warehouse were seen wearing merch that said “VOTE YES” or “VOTE NO” when voting began Friday. Employees at a warehouse in Alabama are also in the midst of a unionization campaign, also hoping to break Amazon’s glass ceiling of lacking organized labor. REUTERS
We can’t wait to read the Amazon Union reviews.
MARCH MADNESS
MEN: Villanova, Kansas, Duke, and UNC have punched their tickets to the Final Four. That means the epic Duke-UNC rivalry is headed to the big stage. Of course, it also means St. Peter's has ended its Cinderella run in the Elite Eight. While the Peacocks' coach Shaheen Holloway used words like "disappointed" and "hearts are broken" after the loss, we think there's nothing but pride the N.J. team should be feeling today. FINAL FOUR PREVIEW
WOMEN: The Final Four women's teams will be locked in tonight. Stanford and South Carolina already claimed their spots with two more spots to be settled tonight. UConn will take on top-ranked N.C. State at 7 p.m. ET, and Michigan faces off against Louisville at 9 p.m. ET. FINAL FOUR PREVIEW (SO FAR)
Our brackets were busted the minute we finished them.
COLORADO WILDFIRES
Evacuation orders have been lifted after wildfires forced almost 20,000 people to leave their Boulder-area homes this weekend. The trouble began mid-day Saturday, but as the wind dies down hundreds of firefighters were able to get a handle on the flames. No one has been hurt and no structures have burned, but the fire is still only partly contained. The cause is still under investigation and many are drawing parallels to the Marshall Fire, which destroyed nearly 1,000 Boulder-area homes in December, though a local fire chief says the two fires are “different animals.” DENVER POST
IN MEMORIAM: TAYLOR HAWKINS
Taylor Hawkins, drummer for the massively successful rock band Foo Fighters, has died at the age of 50. His official cause of death has not been released. With Hawkins on the drums, the Hall of Fame band won a number of Grammys and released several platinum albums. Tributes have poured in from superstars including Alanis Morissette, Slash, and Ozzy Osbourne to pay homage to the L.A. native, who is being remembered not only for tremendous musical talent, but for being exactly what the rock and roll world looks for in a drummer: fearless, colorful and cool. ROLLING STONE
METAVERSE FASHION WEEK
High fashion went virtual for the first-ever Metaverse Fashion Week. The event had all the fashion week staples: – runway events, panel speakers, and even after-parties – just not IRL. In attendance were well-known brands like Forever 21, DKNY and Estéee Lauder. The events were held in the virtual world known as Decentraland, and while the experience was accessible to everyone, to make any purchases, you needed a crypto wallet. The event was undoubtedly an interesting next step for virtual fashion, but also another test to see how people will want to spend their money in the metaverse. WSJ
Fashion Week: brought to you by a guy who wears nothing but hoodies.
BLOCKCHAIN GAMING
Crypto economics meets the world of gaming. Businesses are trying to get a foothold in the emerging industry with a concept called “play-to-earn,” which lets gamers earn crypto cash by creating an avatar, leveling up, and then selling their upgraded character or gear to other players in-game or on existing NFT marketplaces. Blockchain gaming has become an alternative for employment in countries like Ghana and the Philippines, where players realized this allows them to earn more than their country’s minimum wage. But don’t quit your day job just yet; Cheddar’s Alex Vuocolo breaks down the effect on blockchain gaming when the volatility of the crypto market becomes a factor. CHEDDAR
YOU DON'T SEE THAT EVERY DAY
@cheddar: The world’s fast speed skater set a world record… then broke it. TWITTER
Need2Know Podcast Note: The Need2Know podcast is taking a break for now. We're looking forward to bringing you more context and analysis on the big stories of the day in a few weeks. In the meantime, check out our archive on Apple or Spotify, or watch on YouTube, and send us your feedback!
