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We’re all building home theaters now, apparently

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Today's Agenda

Let's Go In to the Movies

The unfinished basement of my sprawling New Jersey mansion was filled with sewer gas this morning, apparently because of some roadwork being done down the street. Occasionally, by which I mean "always," it floods. Nevertheless, I have big dreams for this toxic marshland: Someday I will save up the small nation's GDP it will cost to turn it into a home theater.

Partly this is for watching all the direct-to-streaming movies studios will be churning out in the years ahead. But also these days a home theater is becoming nearly as de rigueur in residential real estate as kitchen islands and his-and-hers bathroom sinks, according to Tara Lachapelle. They're spreading like the black mold in my basement.

This trend has of course been driven by the pandemic. But even when enough of us have been jabbed to achieve herd immunity, it may be a while before we feel like cramming together in theaters again. And that's assuming there are any theaters left to cram into; the rise of the home theater may accelerate that industry's demise. It's a dilemma for homeowners who love movies but also want to avoid both diseases and sewer gases.

Just How Sad Is Tim Cook About Tesla, Really?

We wrote yesterday about how Apple's automaking plans have suddenly accelerated like a self-driving car with bad software, threatening Tesla's romance with the stock market. As if on cue, Elon Musk yesterday tweeted that actually he had proposed selling Apple a big stake in Tesla back when his company was on the skids, partly for Elon Musk-related reasons, and Apple missed its big chance. Liam Denning points out that

  1. Musk's tweets aren't always reliable sources of information (see "hard times" above)
  2. Maybe Musk was trying to steal Apple's thunder on a day when investors were selling Tesla stock, and
  3. Maybe Tim Cook cries himself to sleep at night on his huge piles of money over missing out on Tesla. But probably not. 

Cool It With the Vaccine Politics

More than 1 million Americans have now gotten a dose of the coronavirus vaccine — a big number but just a bare start. Many of these vaccine recipients are politicians. Some of those politicians spent much of the past nine months downplaying the seriousness of the pandemic. Others are relatively young and would ordinarily not be first in line for a dose, if not for their politician-ness. Naturally, this has led to a lot of grousing about unfairness, including from some other politicians who have refused to take the shot. But for the greater good, to build public confidence in vaccines, we must embrace these politicians getting them, writes Robert George. Even the Covid skeptics deserve shots, if only to make their Covid-skeptic fans not turn into vaccine skeptics, too. 

No serious person doubts President-elect Joe Biden deserved his shot. He needs to stay healthy for the big job awaiting him just 27 days, 20 hours and 13 minutes from now, not that anyone is counting. This job will include uniting the country around not only vaccines but other common-sense pandemic-fighting measures such as mask-wearing. As Bloomberg's editorial board notes, these have become depressingly, dangerously politicized under the current president, who is due to leave in just 27 days, 20 hours and 12 minutes.

Further Biden-Versus-Pandemic Reading: There's much the new education secretary can do to help poor school districts recover from the pandemic, starting with suspending costly standardized testing. — Andrea Gabor

Telltale Charts

With bond yields in the dirt and likely not rising in 2021, Brian Chappatta writes the best fixed-income investment strategy next year will be this interesting new bond class, which I believe they're calling "stocks." 

Even as it fills up with home theaters, American housing suffers from a growing shortage of chimneys, which would seem to make it hard for Santa to deliver presents, Justin Fox writes, until you remember windows.

Further Reading

Political dynasties seem to be fading away in the U.S., and good riddance. — Jonathan Bernstein 

The threat of defamation suits could keep right-wing media from spouting conspiracy theories. — Cass Sunstein 

Here's how Biden can rescue NASA's over-budget, behind-schedule moonshot. — Adam Minter 

This was a nightmare year for Iran from start to finish, and next year's not looking great. — Bobby Ghosh 

There are many reasons for SoftBank to start a SPAC, but buying one of its own investments shouldn't be one. — Chris Bryant 

At the border in Arizona, you get a more nuanced view of the border wall. — Frank Barry 

And you must read Matthew Brooker's beautiful meditation on the death of the Hong Kong he has known for decades. 

ICYMI

President Donald Trump vetoed a key defense bill.

Pfizer and BioNTech are giving the U.S. 100 million more vaccine doses

We may actually have a Brexit deal.

Meet the college dropout who became wealthy on YouTube.

Kickers

Da Vinci drawings have their own microbiomes. — (h/t Scott Kominers

An anti-diarrhea drug may kill cancer cells

Wind-powered shipping is back.

Now an AI can judge your terrible musical taste.

In the old days, Christmas was basically SantaCon.

Note: Please send drawings and complaints to Mark Gongloff at mgongloff1@bloomberg.net.

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