Can a Mexican cartel stronghold host the World Cup?
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What major event is happening next week involving SpaceX?
Good morning from the Financial Times. Today is Friday, June 5th, and this is your FT News Briefing. Elon Musk is cozying up to retail investors, and can a bunch of cockroaches upset Indian politics? Plus, the World Cup kicks off next week. We'll take a look at the challenges one host city is facing.
Guadalajara is a place with a lot of cartel presence and a lot of cartel control. It's not really the ideal image for a football tournament.
I'm Mark Filippino, and here's the news you need to start your day.
SpaceX expects to go public about a week from now, and CEO Elon Musk wants to prioritize everyday investors. About one-fifth of SpaceX shares will be reserved for retail investors, as according to sources familiar with the matter, and it's unheard of for such a large IPO. Musk expects the company will raise around $75 billion. Then again, this isn't entirely out of character for Musk. He told his social media followers in 2020 they'd get top priority for the SpaceX listing. Individual investors own more than 40% of Tesla's stocks. SpaceX will set the final IPO price on June 11th, and it's expected to go public the next day.
How is the Cockroach Janta Party challenging Indian politics?
It's not unheard of to use an animal to symbolize a political party. Here in the U.S., the Democrats use a donkey and Republicans use an elephant. And in India, a youth protest movement is aligning itself with the cockroach. It's gone viral, and it's challenging the ruling party of Prime Minister Narendra Modi. I'm joined by the FT's South Asia Bureau Chief, Michael Stott, to tell the story of the Cockroach Janta Party. Hi, Michael. Hello. So, Michael, how did this movement originate and why did the party choose a cockroach as its emblem?
So this party appeared almost out of nowhere. It was the brainchild of an Indian doing postgrad studies at Boston in the US. His name is Abhijit Dipka. And he said he had the idea for this movement after he had read in the papers of India's chief justice calling unemployed young people cockroaches. And he was so outraged by this that he decided to start a satirical online protest movement called the Cockroach Janitor Party. Now, that's a play on the name of Prime Minister Modi's party, the Bharatiya Janitor Party.
What safety concerns exist for the World Cup host city Guadalajara?
And that's where this thing began.
Now, Michael, you spoke to Abhijit Dipka. What's his background and how does he plan to capitalize on this moment?
Well, he told me that he'd finished his master's degree in public relations in Boston, and his plan was just to apply for jobs in the States and stay there. And then this whole movement has changed his life. He's got 22 million followers on Instagram, and they've been telling him they want him to turn this satirical online protest movement into a proper political movement in India. So he's decided to respond to that by coming back to India. He plans to lead protests demanding the resignation of the education minister. who's been implicated in some scandals over public examination problems.
Yeah, what are the problems in the education system that Dipka says need to be addressed?
What is the significance of the Jalisco New Generation cartel in Guadalajara?
These exams are crucial for millions of Indians who take them every year, who spend years of their life and sometimes borrowed money studying to pass them because it's their big chance to gain a decent job. And some of these exams have had to be cancelled after people have taken them because it's emerged that the question papers haven't been secure or that mark sheets have been leaked or that papers have been marked wrongly. So Dipka, he says the first thing he does after getting back to India from the US will be to go to a police station in central Delhi and ask permission to hold a big rally in the government quarter there. of his supporters to demand the education minister's resignation. That's one of their main demands.
One of the others, of course, is young people should no longer be treated as cockroaches, but should get proper support from the government and that the government needs to take seriously the crisis of youth unemployment in India.
Has the government said anything about this?
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Chapters
8 chapters
1
What major event is happening next week involving SpaceX?
0:02–1:27
2
How is the Cockroach Janta Party challenging Indian politics?
1:27–2:35
3
What safety concerns exist for the World Cup host city Guadalajara?
2:35–3:24
4
What is the significance of the Jalisco New Generation cartel in Guadalajara?
3:24–4:57
5
How do local experts view the safety of hosting the World Cup in Guadalajara?
4:57–6:07
6
What measures are being taken to ensure public safety during the World Cup?
6:07–6:53
7
What historical events can inform expectations for Guadalajara's safety during the tournament?
6:53–8:21
8
How is the betting landscape evolving with the upcoming World Cup?
8:21–12:49