Hi Inside Community, Today we’re going to host one of our best AMA interviews yet — this time with Jason Fried, the founder and CEO of 37signals. (You’ve probably heard of his products Basecamp and HEY, if you haven’t used them yourself.) Jason is a founder and executive with more than two decades of experience, so this will be a golden opportunity for you to ask him about his work with startups, his products, and everything else he has done along the way. The AMA kicks off at 11 a.m. PDT, but you can post questions as early as you like. We hope to see you there! —The Inside Team | |  Gregory | |
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 Speaker of the House Nancy Pelosi arrived in Taiwan on Tuesday. China said that it will conduct military exercises in response to Pelosi's visit. More: - "We must stand by Taiwan, which is an island of resilience," said Pelosi in an opinion piece published in the Washington Post.
- Soon after Pelosi's arrival, the People's Liberation Army announced that it would conduct military drills that include launching long-range missiles into the Taiwan Strait.
- The military operations are "a solemn deterrent against the recent major escalation of the negative actions of the United States on the Taiwan issue, and a serious warning to the 'Taiwan independence' forces seeking 'independence,'" said Col. Shi Yi, spokesman for the Eastern Theater Command.
- On Tuesday, 21 Chinese military aircraft entered the "air defense identification zone," according to Taiwan's Ministry of National Defense.
- The military show of force follows Beijing's warning that it would take "resolute and strong measures" in the event that Pelosi visited the island.
Zoom Out: - The last time a U.S. official of Pelosi's rank traveled to Taiwan was in 1997 when then-Speaker Newt Gingrich visited the island.
- Pelosi's visit to Taiwan would "seriously violate the one-China principle," according to Senior Colonel Tan Kefei, a spokesperson for China's Ministry of Defense.
- Pelosi and the Biden Administration have affirmed their commitment to the one-China policy, according to which Washington diplomatically recognizes Beijing as the government of both China and Taiwan.
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 The Senate approved a bill that enhances health care and disability benefits for veterans. The legislation will support millions of veterans who suffer health issues related to their exposure to burn pits. It will also apply to veterans exposed to agent orange. More: - Burn pits are areas where the U.S. military used to dispose of chemicals, medical waste, and other toxic substances. The use of burn pits was pretty common in U.S. military bases in Afghanistan and Iran until the mid-2010s.
- Smoke from these fires, which were often massive, was found to cause a wide range of health issues, including respiratory problems.
- Veterans and their families campaigned for the new legislation after soldiers returning from Iraq and Afghanistan noticed medical problems that appeared to be linked to their exposure to burn pits.
- A lack of scientific data, evidence, and information from the Defense Department result in 70% of disability claims relating to burn pit exposure being denied.
- The Senate approved the new bill in June, but it was delayed twice due to technical fixes and changes.
- "I look forward to signing this bill, so that veterans and their families and caregivers impacted by toxic exposures finally get the benefits and comprehensive health care they earned and deserve," said President Biden.
Zoom Out: - The House approved an earlier form of the bill in March, which would have increased federal spending by $320B over 10 years.
- The current version of the bill is expected to generate $277B in federal deficits over ten years.
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 Airbnb bookings were up 24% between April and June this year compared to 2019. The company recorded 103.7 million bookings during the period, a significant increase from pre-pandemic levels. More: - Airbnb said it is experiencing its most successful summer travel season on record.
- Demand for long-term stays are is surging, a change largely due to the recent uptick in remote work.
- North America saw a 37% increase in bookings compared to 2019, while growth was slower in Europe.
- Demand for Airbnb's services in the Asia Pacific region remained below levels seen before the pandemic, due in large part to COVID-19 restrictions imposed on Chinese tourists.
Zoom Out: - COVID-19 caused domestic flight departures in the U.S. to decrease by 71.5% in May 2020 compared to the previous year.
- The total number of air passengers in the EU dropped by 73% in 2020 compared to 2019.
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GOOD NEWS: Germany hit its third monthly solar energy record in July as the country aims to more than triple solar energy capacity by 2030. The only energy source in the country to produce more electricity in July was coal-fired power plants. The data was provided by the Fraunhofer Institute for Solar Energy Systems. MORE: - Germany generated 8.23 terawatt hours (TWh) from photovoltaic systems in July.
- This figure accounted for one-fifth of Germany's net electricity generation that month while the total share of renewable energy reached 50.6%.
- The German government intends to increase its solar energy capacity by 22 gigawatts (GW) per year by 2026.
- By 2030 the country aims to have 215GW of solar energy capacity, up from 60GW in 2021
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 A message from PERCENT Crypto’s Bad Year The global cryptocurrency market is down over 55%, around $1.20 trillion dollars since the start of the year. Bitcoin, the dominant crypto asset, alone saw a 51% decrease YTD, as other tokens — Ethereum, stablecoins, and the thousands of “altcoins” — followed suit. Yet the money withdrawn from crypto markets is not disappearing into thin air. It is being converted into fiat currency and stored elsewhere, often at a loss. Instead of keeping capital in an account earning low or no interest, private credit investments can offer investors the opportunity to earn high-yield interest over short terms. Find out if this yield-generating asset class can help you earn double-digit returns during the Crypto Winter. Find Out Today
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 Hundreds of Indonesian tourism workers have gone on strike. The move was prompted by the government's decision to raise the price of seeing Komodo dragons to $251 (3,750,000 rupiah) per visitor, up from $13 (200,000 rupiah). More: - 220,000 tourists visited Komodo National Park to see the animals in 2019.
- The decision aims to prevent the animals from being overexposed to humans by reducing the number of visitors who see them.
- The move led to a strike by approximately 700 workers whose livelihoods depend on tourists traveling to see Komodo dragons.
Zoom Out: - Komodo dragons are the largest lizard species in the world.
- Indonesia is home to approximately 3,300 Komodo dragons.
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Five million British households may exhaust their savings by 2024. The prediction comes from a forecast provided by the U.K.’s National Institute for Economic and Social Research. More: - U.K. household savings are set to decrease as the country faces the highest inflation in decades, as well as a likely recession expected for the second half of 2022 and the first quarter of 2023.
- Food and energy bills could exceed the disposable income of over 1 million U.K. households by 2024.
- Some British households saved $243B (£200B) during the COVID-19 pandemic, but the savings were unequal across the population.
- The disparity in savings has led to “surging” demand for foreign holidays in the U.K. while large parts of the population cannot afford essential household items.
Zoom Out: - Annual inflation hit 9.4% in June, its highest level in 40 years, and some economists forecast that it will reach a peak of 12%.
- Inflation has spiked worldwide with the U.S. consumer price index hitting 9.1% in June, its highest level since 1981.
- June saw annual inflation in Spain reach 10% while in Lithuania, another EU country, it reached 20.5%.
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- Lies peddled by conspiracy theorist Alex Jones caused the mother of a 6-year-old victim of the 2012 Sandy Hook Elementary School massacre to fear for her life. The parents of Jesse Lewis, who was killed in the shooting, provided testimonies on Tuesday describing the impact that Jones' false statements had on their family.
- The U.S. has added new penalties to its sanctions on Russian oligarchs Alexander Ponomarenko, Dmitry Pumpyanskiy, and Andrey Melnichenko. New sanctions have also been imposed on "24 Russian defense and technology-related entities," according to U.S. Secretary of State Antony Blinken.
- The U.S. State Department has approved a $3.05B arms deal with Saudi Arabia. The deal would see Saudi Arabia acquire U.S.-made Patriot missiles and related equipment.
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 |  | Gregory Bridgman is a writer and researcher with an academic background in politics and the philosophy of science and technology. He holds a BA from the University of Cape Town, an MS from University College London, and is currently completing a PhD at the University of Cambridge. He is interested in climate issues, technological changes, and the implications of the fourth industrial revolution. Please feel free to contact me at gregory@inside.com! | | | | Editor | Eduardo Garcia is a writer and editor based in New York. He is the author of "Things You Can Do," an illustrated book about climate action. Bylines in The New York Times, The Guardian, Slate, Scientific American, and others. In one of his previous lives, Eduardo worked as a Reuters correspondent in Latin America for nearly a decade. | |
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