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Good morning! It's Sunday, June 14, and welcome to our Sunday Edition, where we take a break from the news to explore the deeper context behind today's topics (our regular news digest will be back tomorrow).
The 23rd men's World Cup kicked off this week, so we looked at the history of the global soccer tournament. After that, we broke down the basics of initial public offerings in light of SpaceX's massive debut Friday, and as competitors Anthropic and OpenAI prepare for their own. Lastly, we examined jury duty, a fundamental responsibility for eligible American citizens.
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— 1440 Topics Team
Dear Readers—Our Sunday edition delivers deep dives into interesting and relevant topics, helping you explore new ideas and feed your curiosity.
Instead of the news—which we cover Monday through Saturday—today we’ll bring you deeply researched overviews and the human-curated articles, podcasts, videos, and more that most fascinated us this week.
Soccer's Biggest Stage
The World Cup, explained
The FIFA World Cup is the world's most prestigious international soccer tournament. The global phenomenon has both men's and women's competitions, each held every four years on staggered schedules. This year's men's competition began June 11 and runs until July 19, when the final will be held in East Rutherford, New Jersey.
To qualify, the 211 members of FIFA must be a top team within one of six continental confederations. The number of spots each confederation sends depends on its size, and qualifying can take 12 months or more.
Early World Cups had a minimal economic impact on host cities and were fairly low-cost. When Mexico spent millions in 1970 to build multiple stadiums and upgrade telecom and infrastructure, it marked a turning point in FIFA's commercialization. The first global color broadcast in 1982 increased tourism for the host cities and became a selling point to future hosts. The final in 2022 reached 1.5 billion viewers worldwide.
... Read what else we learned about the World Cup here.
Also, check out ...
> Leagues like the Premier League differ from the World Cup. (More)
> The World Cup trophy was stolen in 1966—and eventually found by a dog. (More)
> Ten controversial World Cup moments. (More)
> Brandi Chastain's penalty kick in the 1999 Women's World Cup sparked an American women's soccer boom. (More)
In partnership with Doroni
Morgan Stanley Calls This a $9T Opportunity
If Morgan Stanley’s right, the flying car industry will grow 185,850% by 2050. In fact, they say it will reach $9 trillion in size, more than twice as valuable as today’s global car market.
And 5,500+ investors believe Doroni will lead the charge. While competitors chase air fleets and taxis, Doroni’s H1-X aircraft is designed for everyday life. It plugs in and charges like an EV, fits in a two-car garage, and requires just 25 hours of training to pilot. 600+ people have already reserved one, good for $240M+ in potential revenue for Doroni.
Now, Doroni just reserved the Nasdaq ticker $DRNI in preparation for a potential public listing. Invest before Doroni’s share price changes on Thursday.*
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Going Public
What we learned about IPOs
An initial public offering is the process by which a private company becomes public. In an IPO, a company offers its shares to the public for purchase.
IPOs often have all the pomp and circumstance of a graduation ceremony, as they are one of the biggest milestones a company can achieve. From Apple in 1980 to Reddit in 2024, every public company has gone through an IPO at some point.
To begin the process, a company hires investment bankers (who earn roughly 7% of the IPO's gross proceeds) to help set the organization's target valuation range—an estimate of how much the company is worth—and schedule an IPO date. From there, the bankers market the IPO to hedge funds and other large potential investors.
Transitioning from a private to a public company enables an organization to more easily raise significant capital, which helps the company expand.
... Read our full explainer on IPOs here.
Also, check out ...
> The 25 biggest IPOs in US history. (More)
> The first ever IPO was issued by the Dutch East India Co., a spice company. (More)
> Why the number of publicly traded companies has decreased in recent years. (More)
> Google had a quirky, auction-based IPO. (More)
Summoned to Serve
Jury duty 101
Jury duty is the obligation to serve as impartial decision-makers in court proceedings for eligible US citizens. The word "jury" derives from the Latin "jurare" (to swear), and the practice is rooted in the English common law system and codified in the Fifth, Sixth, and Seventh Amendments to the US Constitution.
To be eligible, a citizen must be at least 18 years old, proficient in English, and free of disqualifying criminal convictions or pending felony charges. When summoned, prospective jurors report to court, where attorneys and the judge conduct voir dire—a French phrase meaning "to speak the truth"—questioning candidates about potential biases. Attorneys may dismiss unlimited jurors for demonstrable bias and a limited number for no stated reason.
Two distinct jury types exist in the American legal system. The petit (trial) jury hears evidence, receives legal instructions from the judge, and deliberates toward a verdict—though, in practice, fewer than 2% of federal criminal cases ever go to trial, and the rate is even lower in most state courts.
A grand jury, by contrast, does not determine guilt, but decides whether prosecutors have sufficient evidence to formally charge someone with a crime. A grand jury is required in all federal cases involving serious crimes under the Fifth Amendment, but its use varies from state to state. As of 2023, an estimated 14.4% of Americans were summoned for jury duty annually, with approximately 11 million people reporting for service.
... Read our full write-up on Jury Duty here.
Also, check out ...
> Witness a real jury deliberating a case. (More)
> Compare jury duty pay in different states. (More)
> The exemptions and excuses that can get you out of jury duty. (More)
> A TV show put one unsuspecting man on a fake jury surrounded entirely by actors for three weeks. (More)
In partnership with Doroni
Keep This Stock on Your Watchlist
They’re a private company, but Doroni just reserved the Nasdaq ticker $DRNI.
Created by a former military drone expert, Doroni is scaling in the flying car market projected to reach $9T by 2050. And consumers are already buzzing about their H1-X electric aircraft, committing $240M+ of potential revenue for preorders. First deliveries are planned for 2028. By 2032, Doroni’s targeting $1.4B+/year in revenue. Don’t have to wait for public markets. Buy private Doroni shares at $3.10/share by Thursday.*
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Best of the Week
We added 205 resources this week to our knowledge collective—share your favorite link or outlet with us to see it featured here next week!
Explore a catalog of Ansel Adams' early photos of national parks.
... and hear some trash-talking spread through ancient Roman graffiti.
Why are some people left-handed?
How Kenya produces so many marathon champions.
View a map of the world’s major earthquakes from 1956 to 2022.
Why we like cleaning our ears with Q-tips even though they are dangerous.
How Lenny Bruce's stand-up comedy led to multiple arrests.
Understanding why the human brain loves opioids.
A ranking of the best Bruce Springsteen songs.
Hundreds of thousands of people bravely worked to contain the Chernobyl disaster.
Salvador Dalí believed he was his own dead brother.
In partnership: This electric flying car company just reserved its Nasdaq ticker.*
Only a few dozen people on Earth have this rare blood type.
How do solar panels work?
*Please support our sponsors.
Historybook: Stars and Stripes officially adopted as flag of the US (1777); Abolitionist and author Harriet Beecher Stowe born (1811); President Donald Trump born (1946); High-rise fire in London kills 72 (2017).
"Common sense is seeing things as they are; and doing things as they ought to be."
- Harriet Beecher Stowe
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Business & Finance (Thurs: Weight Watchers and the Great Recession)
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