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Crypto’s $119MM Election Spending Spree
The crypto industry accounts for 48% of corporate money donated to political action committees.
Kieran Ryan
August 26, 2024
Good morning, Nerders. It’s Monday, August 26th. In today’s newsletter, we cover:
2024 Election — The crypto industry is all-in
Airline Economics — Baggage fees are a big moneymaker for airlines
Rent Prices — How RealPage is artificially driving up rent prices nationwide
TODAY’S STORY
This election cycle's biggest corporate spender isn’t big pharma or oil companies.
It’s crypto companies.
The crypto industry accounts for 48% of corporate donations to political action committees in 2024, with Coinbase and Ripple accounting for over 80% of the donations.
A Bipartisan Approach: Interestingly, crypto is breaking the tradition of siding with one party or another; instead, it is supporting or opposing candidates on both sides of the aisle, depending on their crypto views.
In the House, crypto is endorsing 9 Democrats and 9 Republicans
In the Senate, crypto is endorsing 2 Democrats and 1 Republican
Coinbase and Ripple are especially active since they are both in high-profile battles with the SEC over the legitimacy of their businesses.
Crypto isn’t picking sides—it’s buying them.
OUR PICKS
Here are today’s recs to help you live a smarter life…
1. No One Likes a Dirty House.
Versatile, powerful, and cordless for a whole-home deep cleaning. $100 off for a limited time.*
2. A Re-Think of the Age-Old Nightstand.
This natural wood bedside shelf safely holds up to 15lbs of your most essential items (e.g., 13-inch Macbook, phone, iPad, TV remote, water bottle, books) within arm’s reach while you relax.*
3. Stop Hot Laps
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DATA BYTES
Baggage fees are a big moneymaker for airlines: In 2023, U.S. airlines brought in $7.07Bn from baggage fees
Airlines have been raising prices on checked baggage this year to cover higher costs
#SHORTS
How RealPage is artificially driving up rent prices nationwide
@boringbusinesskieran How RealPage is artificially driving up rent prices nationwide // make sure to follow me to keep up with the latest business stories and t... See more
PREVIOUS STORIES
The Business Case for Dessert Concepts — Dessert concepts are seeing record growth, but will it last?
Student Discounts — The era of using student discounts for life is ending.
Retail Crime is Driving Customers to Amazon — Amazon has emerged as the unlikely winner from the retail lockup debacle.
China’s Manufacturing Crisis — China dominates manufacturing—so why are thousands of Chinese manufacturers going out of business?
The Freight Crisis — Wayfair and others with global sourcing exposure could be the most at risk.
To read the web version of previous stories, click here
If you have any comments or feedback, just respond to this email.
Thanks for reading,
Kieran & Justin Ryan
