This is an OZY Special Briefing, an extension of the Presidential Daily Brief. The Special Briefing tells you what you need to know about an important issue, individual or story that is making news. Each one serves up an interesting selection of facts, opinions, images and videos in order to catch you up and vault you ahead. WHAT TO KNOW What happened? E-cigarette giant Juul got good news and bad news this week. The company raised another $325 million, demonstrating that investors still believe in its power to push vaping. But Juul (along with big tobacco giant Philip Morris) is now being sued by a teen who blames his health problems on Juul and who’s taking them to court for violating the Racketeer Influenced and Corrupt Organizations Act by allegedly marketing their products to children. Why does it matter? The $325 million is expected to bolster Juul’s business outside the United States, which is becoming increasingly inhospitable to e-cigarette companies. But e-cigarettes aren’t abandoning the U.S. market just yet: San Francisco (Juul’s home city) recently opted to ban vaping altogether, but Juul’s now spending more than $4 million to support a November ballot measure to overturn that legislation. |