Bryson DeChambeau won the US Open men’s golf tournament today, running away from the field with a six-stroke victory to earn his first major. If you read my newsletter from last Wednesday that previewed the US Open, you know that I liked DeChambeau or Dustin Johnson to win. In today’s edition of the newsletter, though, I don’t make any sports predictions.
MEDIA: Primetime Emmys
The 72nd Primetime Emmy Awards are happening tonight, but it is a different type of television production than usual because of the pandemic.
It is without a live studio audience, for example, among other changes.
Pink's Bottom LineIn 2019, the ratings for the Primetime Emmys fell to their lowest level ever, a whopping 32% below the audience of the show in 2018 — roughly 6.9 million viewers tuned in to watch the awards show last year.
Viewership for large events like the Emmys has been declining for a few years, and 2020’s numbers should again reflect that. As such, I expect ratings for this year’s Emmys to be flat at best.
MONEY: Stripe Moves
Stripe, a fast growing, San Francisco-based fintech payments company, reportedly is planning to do something pretty unusual — it will pay employees if they move.
If a Stripe employee moves from high cost cities New York, San Francisco or Seattle to a lower cost area, the person will get a payment of $20,000, according to the Bloomberg report.
However, once that employee relocates, the salary will be cut by 10%, according to the Bloomberg report. The employees would likely be working remotely once they move.
Pink's Bottom LineSince the coronavirus pandemic led many employees to work from home, companies have become more comfortable with the notion of remote work — some firms have seen worker productivity improve as more employees work from home.
Stripe’s reported plan reflects another example of the impact of the coronavirus — notably a shift to remote work but also the potential shift of the workforce out of major urban centers.
In other words, the long-term impact of the coronavirus on the nature of work in this country potentially could be profound both for workers and for major cities.
SPORTS: Stanley Cup
The Dallas Stars beat the Tampa Bay Lightning 4-1 last night in the first game of the Stanley Cup Finals.
Dallas is looking for the franchise’s first Stanley Cup victory since 1999 and the Lightning are looking for their first Cup since 2004.
Pink's Bottom LineWhile both the Stars and the Lightning have suffered long title droughts, there is one title drought that’s even longer.
No Canada-based team has won the Stanley Cup for 27 years since the Montreal Canadiens lifted the Cup in 1993. (Note: A Canada-based team did win the Stanley Cup from 1984-1990, a stretch of seven consecutive titles.)
Note also that Las Vegas had Tampa Bay as a slight favorite over Dallas to win the Cup before the best of seven series started. Game two is tomorrow night.
Jeremy Pink is former CEO of private-equity backed Broadcast Sports International where he led the company to a successful sale and exit during his tenure there. He is also a former CNBC executive in New York, London and Singapore. He currently serves as an advisor to companies in media, technology, sports and financial tech.
The information contained in this communication is strictly for general informational and entertainment purposes and is not meant to be construed as financial, investment, tax, or legal advice. This communication is not a solicitation to buy or sell any securities. I am not a financial advisor or offering professional advice of any kind. Users should not act upon the content or information found within this communication without first seeking professional advice appropriate for their individual situation. Decisions based on information contained in this communication are the sole responsibility of the user, and use of this communication and its contents constitutes an explicit understanding and acceptance of the foregoing disclaimers.