“I am Concerned About American Women”

Monday, June 30th, 2025

World Events — Canada to Scarp Tech Tax

FT

Canada has rescinded its digital services tax targeting major US technology firms such as Meta, Netflix, and Amazon, just hours before the 3% levy was set to take effect on June 30, 2025, in a move aimed at advancing stalled trade negotiations with the United States after President Donald Trump described the tax as a “direct and blatant” attack on US interests and suspended bilateral talks. The reversal, announced by Finance Minister François-Philippe Champagne and confirmed by Prime Minister Mark Carney, is intended to allow for resumed negotiations toward a new economic and security partnership, with both sides agreeing to work toward a deal by July 21, 2025. The tax, initially introduced in 2020 to address multinational digital firms’ perceived underpayment of Canadian taxes, had become a flashpoint in US-Canada relations and was unpopular among some Canadian business groups who warned of risks to the vital economic relationship with the US. The Canadian government emphasized its preference for a multilateral agreement on digital taxation but opted to withdraw the unilateral measure to support broader trade and security objectives.

Tech — Who Needs Accenture in the Age of AI? 

Economists 

Accenture, long a dominant force in business transformation and digital innovation, now faces an existential challenge as generative AI reshapes the consulting landscape: with technology vendors embedding AI directly into their products and startups like Palantir offering engineers on-site, clients increasingly wonder who truly needs a traditional consultant in the age of AI. Accenture’s leadership insists that clients will require as much—or more—guidance with AI as with previous tech waves, and has restructured the company around a new “Reinvention Services” unit to deliver integrated, AI-powered solutions. However, the reality is that as AI becomes more accessible and self-service, the value proposition of consultancies is under threat, evidenced by slowing new generative AI contracts and a sharp drop in market value as clients explore alternatives or abandon AI initiatives altogether. Accenture’s dilemma is that, while it remains a trusted partner for complex transformation, the very technology it helps implement is making its traditional advisory role less essential for many enterprises.

Business — It’s Not Just Labubu, Chinese Brands are Booming

Chinese consumer brands are experiencing a remarkable boom, winning over both domestic and international markets with a potent mix of innovation, cultural authenticity, and value for money. The Labubu doll phenomenon epitomizes this trend: Pop Mart’s collectibles have sparked a global craze, with celebrities and collectors clamoring for rare editions, while the company’s international footprint and soaring share price reflect the broader momentum of Chinese brands like BYD, Chagee, and Laopu Gold. At home, consumers are increasingly drawn to local alternatives that offer quality and style at competitive prices—or even premium experiences that rival traditional Western brands—while abroad, Chinese firms are expanding aggressively, leveraging unique cultural narratives and savvy marketing to challenge incumbents in everything from electric vehicles to bubble tea and luxury jewelry. As Chinese brands gain recognition and cachet overseas, their success abroad is also driving their prestige at home, signaling a profound shift in global consumer dynamics where the flow of trends is increasingly from East to West.

Culture — “I am Concerned About American Women” - Tina Brown 

Bloomberg

In a recent interview, legendary editor Tina Brown reflected on the shifting landscape of American media and politics, expressing concern for the current state of American women and the broader cultural climate. Brown, now an enthusiastic Substack writer after decades at the helm of Vanity Fair and The New Yorker, noted the decline of traditional cable news and the rise of streaming and digital platforms, which she worries may erode the focus and depth of journalism. She described the Trump administration as “amateurish” and male-dominated, lamenting the lack of charismatic, media-savvy challengers among Democrats and the sidelining of women in public life. Brown also critiqued the Instagram-fueled emphasis on appearance among even accomplished women, contrasting it with the confidence and substance she once admired in American women. Looking back on her career, she expressed nostalgia for the teamwork and visual drama of magazine journalism, while acknowledging the empowerment she gained from the American media environment and the supportive partnership she shared with her late husband, Sir Harry Evans.

The Daily Spark 

In 2010, 50% of all homes sold were purchased by first-time home buyers.

Today, the share is 24%, see chart below.

Song Recommendation — Survive 

Quote of the Day 

“It's on the strength of observation and reflection that one finds a way. So we must dig and delve unceasingly.”

― Claude Monet