Dez Reads. The Chess GOAT Does Not Abide.

Our hearts go out to Los Angeles and Southern California more broadly as we witness this shocking tragedy from afar. Our team has friends, family, clients, and vendors in harm’s way as I write this; we hope that you are all able to stay safe and eventually to rebuild.

Welcome back to the first Dez Reads of 2025, and thanks for allowing our brief recharge. This is going to be a wild year, and we’ll be documenting the twists and turns in media, culture, politics, business, and assorted frivolities throughout.

Mark Emerson didn’t realize this when he submitted his entry, but he has introduced me to my new role model. The top chess player in the world walked out of an elite competition in protest over a dress code that didn’t allow him to play chess in blue jeans. On the way out, he talked a gang of trash about New York’s weather, for some reason. The guy’s nonchalant brilliance reminds me of the Olympic shooting medalist we covered in this space last summer – may his “I’m so good at this I don’t have to care about your rules” attitude be an inspiration to the rest of us.

Elsewhere in DR, I say my piece on the impending acquisition of Greenland, Anne Marie analyzes the hullabaloo over Wal-Mart's knockoff Birkin bag and what it means for evolving consumer tastes, and Mike Bova gears up for a year of consolidation in the streaming/media space.

This year is going to rock; thanks, as always, for reading and learning along with us.

Here we go.

Sports.

Sky News. World chess number one Magnus Carlsen quits tournament after refusing to change jeans

Magnus Carlsen is widely known as the GOAT of professional chess. This guy began at the age of five and has held the world's number-one ranking for over 14 years. Note that the man is only 34 years old.

Recently, Carlsen made headlines for quitting the FIDE World Rapid and Blitz Chess Championships in New York over a dress code dispute. After wearing jeans to the tournament, he was fined $200 and warned he’d be disqualified unless he changed. Carlsen refused, saying he didn’t realize the issue and offered to fix it the next day. But when officials insisted he comply immediately, it became a matter of principle (which I respect). Instead of backing down, Carlsen walked out, saying, “I’m too old to care,” and hinting at heading somewhere with better weather.

Known for his nonchalance and dominance, earlier this year he arrived at a tournament 15 minutes late by bike in the pouring rain. Sure enough. He beats a grandmaster, wins the tournament, and follows with his signature shoulder shrug. Classic Magnus.

– Mark Emerson

Politics.

WSJ. What Trump wants with Greenland

Look, I find it hilarious that we are talking about purchasing a country, OK? More concerningly, I am no longer sure if this idea is merely entertaining or if I actually deeply covet Greenland. I kind of want us to buy a country; I’m not ashamed to say it, and Greenland seems like a fantastically fun country to own.

WSJ has a look at why Greenland is so coveted – maybe not in an empire-building sense, but in a global security one. The island is positioned adjacent to Arctic shipping routes, which becomes more important by the day as climate change makes passage more feasible. It also is a crucial national security outpost, currently playing a crucial role in America’s missile detection and defense infrastructure, and contains critical rare earth elements that could further wean the West off its supply chain dependency on China.

Fred Brown wants me to say that we don’t need Greenland because we already have Alaska. I am not yet dissuaded from my desire to add a big, beautiful 51^st state in the Arctic.

– Josh Culling

Media.

NYT. Who Are the Winners and Losers in Disney’s Fubo Deal?

Massive news in the streaming wars, as The Walt Disney Company announced a 70 percent controlling stake in sports streamer fuboTV Network. This is the first major media deal of the year and almost certainly will not be the last.

This deal illustrates what will likely be the biggest streaming trend of 2025 – consolidation. The larger players need to continue to add subscribers but are running out of places to find them. While the two services will operate independently, I anticipate future partnerships that will incorporate Fubo’s focus on sports and news to complement Hulu’s entertainment options while serving Disney's other sports priorities.

Most importantly, Fubo will be settling all litigation claims of anti-competitive practices against Disney, Fox, and Warner Bros. Discovery related to their planned sports streaming platform. This doesn’t mean that their new platform won’t hit significant headwinds in the future with increased competition and sports TV rights cost increases, but it is one less hurdle.

– Mike Bova

Commerce and Culture.

Forbes. Does Walmart ‘Wirkin’ Bag Threaten Hermès So That It Must Protect Its Birkin Trademark?

Consumption culture and class dynamics came to a head recently, not in politics or the media (for once), but in fashion, retail, and intellectual property. Walmart, THE big box store, through a third-party seller, sold a dupe of the Hermès Birkin bag that took the social sphere and influencers on TikTok and Instagram by storm. The handbag, dubbed the Wirkin (Walmart Birkin), was sold out in a matter of days.

The Birkin bag’s price tag ranges from $8,000 to $2 million depending on the size, material, etc. Walmart’s Wirkin was a few hundred bucks. Recently, Hermès took to CBS 60 Minutes to detail why they consider their one-of-a-kind, hand-crafted goods to be works of art, rather than commodities.

Protecting intellectual property and fighting counterfeiting has become close to a full-time job for luxury brands like Hermès, Cartier, Louis Vuitton, and others. But it’s a losing game, and as consumer preferences continue to shift, to what end?

Dupes are on the rise. More and more Gen X, Millennial, and Gen Z consumers are rejecting the “keeping up with the Joneses” consumerism of past generations in favor of simplicity and sustainability. Further, it seems society’s evolving material attitudes are rejecting that brand names, no matter how storied or iconic, can justify massive price tags.

Is it possible consumerism has peaked? Probably not. However, if consumption culture continues to favor volume over value, Wirkins may rule the (retail) world someday.

– Anne Marie Malecha