Bitcoin News Australia

If you’re watching “The Last of Us,” whisky fungus sounds like something Joel and Ellie should avoid, but it’s a reality for anyone living near a distillery.

Jack Daniel’s says 14 barrelhouses in Moore County, Tennessee — where it currently has six — would generate $1m in annual property tax revenue, per The New York Times.

Residents there and in neighboring Lincoln County claim the operation is coating everything in fungus.

What is it?

Baudoinia compniacensis, a black fungus AKA whiskey or rum fungus.

Mycologist James Scott, PhD, found that the fungus feeds on ethanol, which evaporates and spreads from wooden casks as alcohol ages.

What’s the problem?

It covers everything and always returns.

Christi Long, who owns a nearby event venue, spends ~$10k on power-washing annually. She’s suing the county’s zoning office, Jack Daniel’s parent company, alleging that its barrelhouses lack proper permits.

A judge found that was true of a new barrelhouse and ordered construction to cease, but Long’s lawyer wants Jack Daniel’s to stop using all nearby barrelhouses.

Also, while no link has been established between the fungus and bad health, residents want an air filtration system and environmental impact report.

FWIW, a similar lawsuit was dismissed in Kentucky and another is pending in Canada.

What’s JD say?

Jack Daniel’s doesn’t want to install air filters because it could interfere with its whiskey’s taste, and seems to think power-washing everything every few months is fine — but JD won’t do it, lest it be held liable for any damage to homes or buildings.

Scott told the NYT that the fungus will continue to wreck patio furniture, trees and siding until the alcohol supply is turned off.

When electric automaker Rivian went public in Nov. 2021, it briefly became the world’s third most-valuable car company after Tesla and Toyota.

But the company’s stock has fallen back to Earth, with shares down ~90% since the spike.

What’s happening? This week, Rivian reported revenue and guidance that fell below analysts’ already-modest hopes, as well as losses that totaled $6.8B last year.

• Rivian’s Q4 revenue totaled $663m, below forecasts of $742m.
• In 2023, it hopes to deliver 50k vehicles, below Wall Street’s goals for 60k.

Like other EV startups, Rivian faces supply chain road bumps, high costs for battery materials, growing competition, and price cuts from Tesla.

For investors, a big question is whether Rivian will be able to deliver on its promises to customers in a timely manner, or risk losing them to competition.

This week wasn’t all a bumpy ride for Rivian, though. A new JD Power EV customer satisfaction survey placed the Rivian R1T at the top spot — the first time a non-Tesla has won the title since the survey began.

In case you missed ‘em, we rounded up some of our latest and greatest hits from YouTube. There’s something for everybody:

• The impressive comeback of vinyl records
• The economics of all-you-can-eat buffets
• Why your Zillow Zestimate is wrong
• The popular electronics chain that scammed America

Sit back, relax, and enjoy.