Daily Briefing: October 29

The stat, quote and read you need to start your day off right.

Stat

According to a recent Pew survey, the percentage of Americans who get their news from TikTok has increased three-fold since 2020. Now, 10% of all adults, and 26% of adults under 30 receive updates about current events from TikTok. In contrast, the share of people getting their news from Facebook has dropped significantly--from 54% last year to 44%.

Quote

“Our country is facing a profound economic crisis.”

On his first day as prime minister, Rishi Sunak delivered some difficult news about the UK's bleak economic prospects. He pledged to right the wrongs of Liz Truss, bring stability to government, and help stimulate the economy. Perhaps Sunak is qualified for this role—he'll become the first UK prime minister with experience at a hedge fund after working at Goldman Sachs.

Read

Bloomberg’s Matt Levine wrote ~40,000 words explaining crypto. (Bloomberg)

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