Table of Contents

• A new esports tournament in Saudi Arabia promises …

• The synergy of aspiration: athletes and up-and-com …

• Top Tickers

• What happened to the artificial-intelligence revol …

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A new esports tournament in Saudi Arabia promises to be a game-changer

EWC will involve some of the world’s top organizations—such as T1, FlyQuest, Gen.G Esports, Fnatic and G2 Esports—competing against each other across 21 esports titles

In the heart of Saudi Arabia’s capital, a seismic moment for esports is underway; one which has triggered both excitement and concern across the industry. The Esports World Cup (EWC) – which began on July 3 – has brought together professional gamers, publishers and fans from across the world for an eight-week competitive gaming bonanza.

Its record-breaking prize pool of more than $60 million has raised eyebrows and Ralf Reichert, CEO of the Esports World Cup Foundation which is organizing the event, told CNN Sport that the spectacle will help unite the industry.

But while the tournament will be a shot of adrenaline for esports, its launch has refreshed existing concerns about the industry’s relationship with Saudi Arabia.

The EWC also comes after a difficult period for an industry which has seen large-scale layoffs. At the start of the year, game developer and publisher Riot Games letting 11% of its workforce go. According to the New York Times, esports leagues are struggling to make money, while sponsors have slashed their advertising budgets and many teams are now operating at a loss. But the EWC is now providing an opportunity for over 20 major brands – such as Adidas and KitKat – to forge fresh and lucrative partnerships with esports teams across the tournament.

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The synergy of aspiration: athletes and up-and-coming brands creating value for both parties

Success stories of athlete-company collaborations

In the ever-evolving sportswear industry, partnerships between tennis legends and challenger brands are creating ripples. Andy Murray and Roger Federer are key players driving this change, investing in brands like Castore and On Running, respectively.

Founded by Thomas and Philip Beahon in 2016, Castore’s collaboration with Andy has significantly boosted its market presence. Their innovative designs and high-performance apparel have captured the attention of a global audience, with the brand now valued at $1.2bn.

On Running, with Roger as a "co-entrepreneur," has launched several successful products, including the Roger Pro tennis shoe. These partnerships not only bring authenticity but also infuse fresh perspectives into the brands, aligning them closely with the athletes' visions.

The tennis apparel market is thriving, with a projected growth from $1.9bn in 2022 to $2.1bn by 2028. Brands like Castore and On Running are leveraging celebrity status and innovative designs to capture the growing demand.

As Thomas Beahon aptly puts it, “You want the athlete to have skin in the game.” This sentiment resonates as these collaborations redefine sportswear, blending performance with style.

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What happened to the artificial-intelligence revolution?

So far the technology has had almost no economic impact

The five big tech firms—Alphabet, Amazon, Apple, Meta and Microsoft, all of which have either headquarters or outposts nearby—are investing vast sums. This year they are budgeting an estimated $400bn for capital expenditures, mostly on ai-related hardware, and for research and development.

Investors have added more than $2trn to the market value of the five big tech firms in the past year—in e!ect projecting an extra $300bn-400bn in annual revenues according to our rough estimates, about the same as another Apple’s worth of sales.

However, beyond the tech epicenter, AI's influence remains limited.

Surveys from McKinsey and Microsoft/LinkedIn suggest high AI usage among professionals, yet broader statistics tell a different story. In America, only 5% of businesses reported recent AI use, with similar figures in Canada and slow growth in the UK. Data security concerns, biased algorithms, and technological obsolescence contribute to this slow adoption.

Generative AI is primarily streamlining customer service and marketing efforts. Despite these efforts, the impact on productivity and job displacement is minimal. Unemployment rates remain low, and wage growth is strong, contradicting fears of an AI-driven labor market shake-up.

While big tech's AI investments are substantial, most of their earnings are anticipated post-2032. For the AI revolution to truly take off, broader business investment and strategic implementation are essential. The potential is vast, but the journey is just beginning.

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Then: Wimbledon! As Billie Jean King aptly said, "tennis is the perfect combination of violent action taking place in an atmosphere of tranquility." This philosophy drives Neil Stubley, Wimbledon's Head of Courts and Horticulture. His team meticulously maintains the iconic grass courts, ensuring they meet the highest standards for playability and aesthetics.

Each year, Neil's team begins preparations the day after the tournament ends, using advanced science and data analytics to monitor and adjust the courts. They perform nearly 20,000 readings during the tournament to maintain optimal conditions, which impact match outcomes and player performance.

Wimbledon’s transition to 100% perennial ryegrass has enhanced durability and playability, ensuring a consistent ball bounce and improved aesthetics. This evolution reflects the ever-increasing demands of modern tennis athletes, requiring surfaces that can withstand intense pressure and high-speed play.

“We are always looking to improve that extra 1% each year,” Neil told ABC News. “We always want to improve because the players are always improving. They're getting stronger and faster. If you think of players in the Rod Laver days who were 5’5” weighing 9 stone (126 pounds) compared to some of the players now who are 6’6” and 16 stone (224 pounds) of pure muscle who can sprint across 20 meters between 2 to 3 seconds, there is a lot more pressure on the playing surface and the need for the grass to survive that.”

Feel free to enjoy the rest of the day as much as possible!

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