Axios

America's housing market is broken, but the deep and structural problems can't be fixed with technology.

Why it matters: The U.S. is in desperate need of more high-quality rental housing. Homeownership works for many — and doesn't work at all for many others, who might not be ready to settle down or might not have the financial means.

The upheaval going on in college sports that has seen multiple major schools switch conference allegiances is being driven almost entirely by a lust for TV dollars.

Why it matters: The gulf between the haves and the have-nots created by the ocean of money in college sports is only going to get wider.

Boston calls itself the Hub of the World, and now it's paving the future for sports fans as the New England Sports Network (NESN) was the first regional sports network to launch a direct-to-consumer streaming service. Many more are coming.

Why it matters: Live sports is one of the few remaining reasons for cable, and yet regional sports network subscribers are dwindling, per S&P Global Market Intelligence's Kagan. RSNs have been adapting with their own streaming platforms.

After years of watching traditional media dominate live sports, tech giants have decided it's time to get in the game by paying up for live sports rights.

Why it matters: The value of sports rights has been in the stratosphere and the inclusion of trillion-dollar tech giants will only lift those numbers higher.

U.S. women's sports are becoming a hot investment vehicle for networks. Soccer and basketball in particular are becoming hot-ticket rights packages.

Why it matters: For decades, women's sports were largely neglected by the media. Now that they're cultivating bigger audiences, the appeal is beginning to widen.

Some hotels are offering new baby amenities tailor-made, ultimately, for parents to relax.

Driving the news: From butlers and body massages, to custom and room-service baby food, luxury hotels are extending their white-glove ways to the tiniest of patrons, WSJ reports.

Hollywood's slower than usual summer is hurting movie theaters.

Why it matters: Audience attendance has rebounded since theater doors have reopened — but the explosion of streaming options coupled with the health crisis has changed moviemaking, and watching, permanently.

So far, Tether has only given the market transparency around exactly four days each year.

Why it matters: Tether is the third biggest cryptocurrency in the world, with a $67.5 billion market cap, and it's the most widely traded against the biggest cryptocurrencies, such as bitcoin and ethereum.

It will cost $26,000 more to raise a child through high school today than it did just two years ago, a Brookings Institution estimate has found.

Driving the news: A married, middle-income couple with two children is likely to spend $310,605 — an average of $18,271 a year — to raise their youngest child born in 2015, per Brookings, which first shared the estimates to the Wall Street Journal.

Walmart told employees Friday that it will expand abortion coverage for certain cases, according to an internal memo obtained by CNBC.

The big picture: Corporations are facing increasing pressure to expand abortion coverage in the aftermath of the Supreme Court decision overturning Roe v. Wade. Walmart, the U.S.'s largest employer, is headquartered in Arkansas, where abortions are banned except in cases where the pregnant person's life is threatened.

Starbucks pulled its brand from Russia in May, but the coffee shop that's replacing it might conjure familiar feelings.

Driving the news: Stars Coffee on Friday opened its doors in Moscow, emblazoning its stores and cups with a logo that doesn't make much of an attempt to forget the American company that left.

Transportation Secretary Pete Buttigieg has called on 10 of the biggest U.S. airlines to help stranded and delayed passengers.

The big picture: Buttigieg said in letters sent to major air carriers on Thursday that recent travel disruptions have been "unacceptable," and warned that the Department of Transportation might adopt new rules to help passengers who are facing heavy cancellations and delayed flights amid a summer of revenge travel.

Prices are falling on a host of important products, and supply chains are starting to sort themselves out, too.

Why it matters: These are two very clear, undeniable pieces of good economic news. High prices and product bottlenecks aren't gone, but they're getting a lot better.

China's President Xi Jinping and Russia's leader Vladimir Putin plan to attend the G20 summit in Bali later this year, according to Indonesian officials.

The big picture: President Biden is expected to attend November's forum, setting the stage for the first summit involving the leaders of the U.S., China and Russia since Putin's forces invaded Ukraine and tensions between Washington and Beijing became further heightened after House Speaker Nancy Pelosi's visit to Taiwan.

Kathleen Nisbet Halpin, an early Axios hire who made herself indispensable with sharp instincts and good cheer, took to Twitter this week with wise advice for all the young people in our lives, Jim writes.

• It boils down to: Get sh*t done, no matter how small or dull. Then ask for more — lots more.

Why it matters: The fastest way to success isn't sucking up or leaning on a fancy degree. It’s doing — and therefore learning — more than your peers, cheerfully and relentlessly.

• "I learned what people were working on and looked for ways to help," Kathleen writes. "Practically, this meant taking notes in every meeting and offering to take action items off people's plates. I absorbed everything I could."

Kathleen rose fast in her early 20s to Director of Strategy — because she knew more, did more, and asked for more than most others.

• Not too shabby for an international affairs student with zero business experience.
• She's now getting her MBA at NYU to prep for her next big act.

In her words, and through my observations of Kathleen in action, here's a clear roadmap for any young person to follow:

1. Past is past. At work, in the beginning, what matters most is today and tomorrow. In the trenches, people want to see you deliver the goods with humility and grace.
2. Volunteer. Raise your hand for every little task. Someone needs notes typed up or researched? Do it. Someone looking for help on a project? Offer it. "My biggest piece of advice: the more people associate you with getting things done, the more top-of-mind you'll be for the next big task," Kathleen wrote.
3. Hustle & learn. Don’t just do a lot. Learn a lot. Study what's happening and why. Ask questions. Watch and take notes on people you admire. Also, watch and take notes on the jerk, so you don’t become one. "I kept a list of all the words used in meetings that I didn't know and googled them after. I'm not embarrassed to admit in the early days, I searched 'what is B2B?' (a few times 😀)," Kathleen recalls.

The big picture, via Kathleen: “Always take the initiative. If you love the company, the mission, and the people, it won't feel like 'work' at all."

Reality check: It’s vital to recognize that too many workplaces for too long failed as meritocracies — hustle and hard work weren’t enough for people without privileges. For this perspective, two resources we recommend:

• McKinsey's "The Black experience at work in charts."
• NPR’s "Code Switch" podcast, "When The 'Hustle' Isn't Enough."

Read Kathleen's thread.