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          SpaceX tops estimates in first earnings report...
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                    August 05, 2026
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                     Presented By
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                    <p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
                     <strong style="color:#000;font-weight:bold">
                      Happy Hump Day.
                     </strong>
                     Some BMW owners are upset after full-screen ads for the new
                     <em>
                      Spider-Man
                     </em>
                     movie started
                     <a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
                      taking over
                     </a>
                     their cars’ control displays late last month.
                    </p>
                    <p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
                     A Marvel character hasn’t shown up this uninvited since
                     <em>
                      Morbius
                     </em>
                     hit theaters.
                    </p>
                    <p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
                     <em>
                      —Dave Lozo, Sam Klebanov, Matty Merritt, Adam Epstein
                     </em>
                    </p>
                    <p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
                     <strong style="color:#000;font-weight:bold">
                      In today’s newsletter,
                     </strong>
                     we’ll get into:
                    </p>
                    <ul style="color:#333;margin-top:0;padding-left:30px">
                     <li style="color:#333;line-height:22px;margin-bottom:10px">
                      SpaceX’s first-ever earnings report
                     </li>
                     <li style="color:#333;line-height:22px;margin-bottom:10px">
                      McDonald’s shaking up its US biz
                     </li>
                     <li style="color:#333;line-height:22px;margin-bottom:10px">
                      MySpace making a comeback
                     </li>
                    </ul>
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                        <p style="font-size:16px;font-weight:700;text-transform:uppercase;margin-bottom:0;margin-top:0;padding:15px 15px 0px 15px;color:#1c7ff2">
                         Markets
                        </p>
                       </td>
                      </tr>
                     </tbody>
                    </table>
                    <table cellpadding="0" cellspacing="0" role="presentation" style="width:100%;border-collapse:collapse">
                     <tbody>
                      <tr>
                       <td class="pad5m">
                        <table cellpadding="0" cellspacing="0" role="presentation" style="width:100%;border-collapse:collapse">
                         <tbody>
                          <tr>
                           <td class="pads10 pads6m" style="text-align:center;border-top:1px solid #e6e6e6;border-bottom:1px solid #e6e6e6;padding-bottom:0px;mso-padding-alt:0 20px 0 20px">
                            <table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse:collapse;width:100%">
                             <tbody>
                              <tr>
                               <td class="markets-arrow-cell" style="text-align:center;width:12%;line-height:1em" valign="middle">
                                <img alt="" class="markets-arrow" src="https://inboxflows.com/_/image/https%253A%252F%252Fcdn.sanity.io%252Fimages%252Fbl383u0v%252Fproduction%252F6097ec1c26b17401a61bfbfe4440c75ebfea1886-44x39.png/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZjZG4uc2FuaXR5LiIsInRpbWUiOjE3ODU5MjM2NDEuNTk0MDcxNn0:1wrYK1:Hl1dGlGwW2mr0BwAeynxllS7dR72iPP18N4-P_4pdAg" style="width:22%" width="20"/>
                               </td>
                               <td class="markets-ticker-cell" style="width:34%" valign="middle">
                                <p class="markets-table-text" style="color:#333;white-space:nowrap;vertical-align:middle;text-align:left;font-family:Helvetica, Arial, sans-serif;margin:0;padding:0;font-size:16px;font-weight:700;line-height:1em">
                                 Nasdaq
                                </p>
                               </td>
                               <td class="markets-value-cell" style="width:34%" valign="middle">
                                <p class="markets-table-text" style="color:#333;white-space:nowrap;vertical-align:middle;text-align:left;font-family:Helvetica, Arial, sans-serif;margin:0;padding:0;font-size:16px;font-weight:700;line-height:1em">
                                 26,584.99
                                </p>
                               </td>
                               <td class="markets-bubble-cell" style="width:20%;padding-top:8px;padding-bottom:8px" valign="middle">
                                <table border="0" cellpadding="0" cellspacing="0" class="markets-bubble" role="presentation" style="border-collapse:collapse;width:70%;margin:0 auto">
                                 <tbody>
                                  <tr>
                                   <td style="background-color:rgba(40, 211, 26, 0.3);border-radius:8px;padding:10px 8px" valign="middle">
                                    <p class="markets-table-text" style="color:#333;white-space:nowrap;vertical-align:middle;text-align:center;font-family:Helvetica, Arial, sans-serif;margin:0;padding:0;font-size:16px;font-weight:700;line-height:1em">
                                     +2.59%
                                    </p>
                                   </td>
                                  </tr>
                                 </tbody>
                                </table>
                               </td>
                              </tr>
                             </tbody>
                            </table>
                           </td>
                          </tr>
                          <tr>
                           <td class="pads10 pads6m" style="text-align:center;border-top:1px solid #e6e6e6;border-bottom:1px solid #e6e6e6;padding-bottom:0px;mso-padding-alt:0 20px 0 20px">
                            <table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse:collapse;width:100%">
                             <tbody>
                              <tr>
                               <td class="markets-arrow-cell" style="text-align:center;width:12%;line-height:1em" valign="middle">
                                <img alt="" class="markets-arrow" src="https://inboxflows.com/_/image/https%253A%252F%252Fcdn.sanity.io%252Fimages%252Fbl383u0v%252Fproduction%252F6097ec1c26b17401a61bfbfe4440c75ebfea1886-44x39.png/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZjZG4uc2FuaXR5LiIsInRpbWUiOjE3ODU5MjM2NDEuNTk0MjM4NX0:1wrYK1:RkezO0whiN06d34m6M3S6sZmTMOok_HcqUvG6pixSdk" style="width:22%" width="20"/>
                               </td>
                               <td class="markets-ticker-cell" style="width:34%" valign="middle">
                                <p class="markets-table-text" style="color:#333;white-space:nowrap;vertical-align:middle;text-align:left;font-family:Helvetica, Arial, sans-serif;margin:0;padding:0;font-size:16px;font-weight:700;line-height:1em">
                                 S&amp;P
                                </p>
                               </td>
                               <td class="markets-value-cell" style="width:34%" valign="middle">
                                <p class="markets-table-text" style="color:#333;white-space:nowrap;vertical-align:middle;text-align:left;font-family:Helvetica, Arial, sans-serif;margin:0;padding:0;font-size:16px;font-weight:700;line-height:1em">
                                 7,736.52
                                </p>
                               </td>
                               <td class="markets-bubble-cell" style="width:20%;padding-top:8px;padding-bottom:8px" valign="middle">
                                <table border="0" cellpadding="0" cellspacing="0" class="markets-bubble" role="presentation" style="border-collapse:collapse;width:70%;margin:0 auto">
                                 <tbody>
                                  <tr>
                                   <td style="background-color:rgba(40, 211, 26, 0.3);border-radius:8px;padding:10px 8px" valign="middle">
                                    <p class="markets-table-text" style="color:#333;white-space:nowrap;vertical-align:middle;text-align:center;font-family:Helvetica, Arial, sans-serif;margin:0;padding:0;font-size:16px;font-weight:700;line-height:1em">
                                     +1.79%
                                    </p>
                                   </td>
                                  </tr>
                                 </tbody>
                                </table>
                               </td>
                              </tr>
                             </tbody>
                            </table>
                           </td>
                          </tr>
                          <tr>
                           <td class="pads10 pads6m" style="text-align:center;border-top:1px solid #e6e6e6;border-bottom:1px solid #e6e6e6;padding-bottom:0px;mso-padding-alt:0 20px 0 20px">
                            <table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse:collapse;width:100%">
                             <tbody>
                              <tr>
                               <td class="markets-arrow-cell" style="text-align:center;width:12%;line-height:1em" valign="middle">
                                <img alt="" class="markets-arrow" src="https://inboxflows.com/_/image/https%253A%252F%252Fcdn.sanity.io%252Fimages%252Fbl383u0v%252Fproduction%252F6097ec1c26b17401a61bfbfe4440c75ebfea1886-44x39.png/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZjZG4uc2FuaXR5LiIsInRpbWUiOjE3ODU5MjM2NDEuNTk0Mzg5Mn0:1wrYK1:9mKNanKVwOm3jXdSbY-fO89ZD-G-wpr8NCTDehAn9wc" style="width:22%" width="20"/>
                               </td>
                               <td class="markets-ticker-cell" style="width:34%" valign="middle">
                                <p class="markets-table-text" style="color:#333;white-space:nowrap;vertical-align:middle;text-align:left;font-family:Helvetica, Arial, sans-serif;margin:0;padding:0;font-size:16px;font-weight:700;line-height:1em">
                                 Dow
                                </p>
                               </td>
                               <td class="markets-value-cell" style="width:34%" valign="middle">
                                <p class="markets-table-text" style="color:#333;white-space:nowrap;vertical-align:middle;text-align:left;font-family:Helvetica, Arial, sans-serif;margin:0;padding:0;font-size:16px;font-weight:700;line-height:1em">
                                 54,085.88
                                </p>
                               </td>
                               <td class="markets-bubble-cell" style="width:20%;padding-top:8px;padding-bottom:8px" valign="middle">
                                <table border="0" cellpadding="0" cellspacing="0" class="markets-bubble" role="presentation" style="border-collapse:collapse;width:70%;margin:0 auto">
                                 <tbody>
                                  <tr>
                                   <td style="background-color:rgba(40, 211, 26, 0.3);border-radius:8px;padding:10px 8px" valign="middle">
                                    <p class="markets-table-text" style="color:#333;white-space:nowrap;vertical-align:middle;text-align:center;font-family:Helvetica, Arial, sans-serif;margin:0;padding:0;font-size:16px;font-weight:700;line-height:1em">
                                     +1.71%
                                    </p>
                                   </td>
                                  </tr>
                                 </tbody>
                                </table>
                               </td>
                              </tr>
                             </tbody>
                            </table>
                           </td>
                          </tr>
                          <tr>
                           <td class="pads10 pads6m" style="text-align:center;border-top:1px solid #e6e6e6;border-bottom:1px solid #e6e6e6;padding-bottom:0px;mso-padding-alt:0 20px 0 20px">
                            <table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse:collapse;width:100%">
                             <tbody>
                              <tr>
                               <td class="markets-arrow-cell" style="text-align:center;width:12%;line-height:1em" valign="middle">
                                <img alt="" class="markets-arrow" src="https://inboxflows.com/_/image/https%253A%252F%252Fcdn.sanity.io%252Fimages%252Fbl383u0v%252Fproduction%252Fe4a85d043f857cc8adaca9d546c099f6d7db37ba-44x39.png/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZjZG4uc2FuaXR5LiIsInRpbWUiOjE3ODU5MjM2NDEuNTk0NTk3M30:1wrYK1:3Ir-B9Ez-Z_kBcl7hM-WOVcc_2Cp4l_VPONP50NH68s" style="width:22%" width="20"/>
                               </td>
                               <td class="markets-ticker-cell" style="width:34%" valign="middle">
                                <p class="markets-table-text" style="color:#333;white-space:nowrap;vertical-align:middle;text-align:left;font-family:Helvetica, Arial, sans-serif;margin:0;padding:0;font-size:16px;font-weight:700;line-height:1em">
                                 10-Year
                                </p>
                               </td>
                               <td class="markets-value-cell" style="width:34%" valign="middle">
                                <p class="markets-table-text" style="color:#333;white-space:nowrap;vertical-align:middle;text-align:left;font-family:Helvetica, Arial, sans-serif;margin:0;padding:0;font-size:16px;font-weight:700;line-height:1em">
                                 4.627%
                                </p>
                               </td>
                               <td class="markets-bubble-cell" style="width:20%;padding-top:8px;padding-bottom:8px" valign="middle">
                                <table border="0" cellpadding="0" cellspacing="0" class="markets-bubble" role="presentation" style="border-collapse:collapse;width:70%;margin:0 auto">
                                 <tbody>
                                  <tr>
                                   <td style="background-color:rgba(255, 3, 3, 0.3);border-radius:8px;padding:10px 8px" valign="middle">
                                    <p class="markets-table-text" style="color:#333;white-space:nowrap;vertical-align:middle;text-align:center;font-family:Helvetica, Arial, sans-serif;margin:0;padding:0;font-size:16px;font-weight:700;line-height:1em">
                                     -6.0 bps
                                    </p>
                                   </td>
                                  </tr>
                                 </tbody>
                                </table>
                               </td>
                              </tr>
                             </tbody>
                            </table>
                           </td>
                          </tr>
                          <tr>
                           <td class="pads10 pads6m" style="text-align:center;border-top:1px solid #e6e6e6;border-bottom:1px solid #e6e6e6;padding-bottom:0px;mso-padding-alt:0 20px 0 20px">
                            <table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse:collapse;width:100%">
                             <tbody>
                              <tr>
                               <td class="markets-arrow-cell" style="text-align:center;width:12%;line-height:1em" valign="middle">
                                <img alt="" class="markets-arrow" src="https://inboxflows.com/_/image/https%253A%252F%252Fcdn.sanity.io%252Fimages%252Fbl383u0v%252Fproduction%252F6097ec1c26b17401a61bfbfe4440c75ebfea1886-44x39.png/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZjZG4uc2FuaXR5LiIsInRpbWUiOjE3ODU5MjM2NDEuNTk0NzUwNH0:1wrYK1:YRVsKo_T6HJwRD-sPeBruvgn93loWtZr9lKARWM3vjM" style="width:22%" width="20"/>
                               </td>
                               <td class="markets-ticker-cell" style="width:34%" valign="middle">
                                <p class="markets-table-text" style="color:#333;white-space:nowrap;vertical-align:middle;text-align:left;font-family:Helvetica, Arial, sans-serif;margin:0;padding:0;font-size:16px;font-weight:700;line-height:1em">
                                 Bitcoin
                                </p>
                               </td>
                               <td class="markets-value-cell" style="width:34%" valign="middle">
                                <p class="markets-table-text" style="color:#333;white-space:nowrap;vertical-align:middle;text-align:left;font-family:Helvetica, Arial, sans-serif;margin:0;padding:0;font-size:16px;font-weight:700;line-height:1em">
                                 $64,059.58
                                </p>
                               </td>
                               <td class="markets-bubble-cell" style="width:20%;padding-top:8px;padding-bottom:8px" valign="middle">
                                <table border="0" cellpadding="0" cellspacing="0" class="markets-bubble" role="presentation" style="border-collapse:collapse;width:70%;margin:0 auto">
                                 <tbody>
                                  <tr>
                                   <td style="background-color:rgba(40, 211, 26, 0.3);border-radius:8px;padding:10px 8px" valign="middle">
                                    <p class="markets-table-text" style="color:#333;white-space:nowrap;vertical-align:middle;text-align:center;font-family:Helvetica, Arial, sans-serif;margin:0;padding:0;font-size:16px;font-weight:700;line-height:1em">
                                     +0.51%
                                    </p>
                                   </td>
                                  </tr>
                                 </tbody>
                                </table>
                               </td>
                              </tr>
                             </tbody>
                            </table>
                           </td>
                          </tr>
                          <tr>
                           <td class="pads10 pads6m" style="text-align:center;border-top:1px solid #e6e6e6;border-bottom:1px solid #e6e6e6;padding-bottom:0px;mso-padding-alt:0 20px 0 20px">
                            <table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse:collapse;width:100%">
                             <tbody>
                              <tr>
                               <td class="markets-arrow-cell" style="text-align:center;width:12%;line-height:1em" valign="middle">
                                <img alt="" class="markets-arrow" src="https://inboxflows.com/_/image/https%253A%252F%252Fcdn.sanity.io%252Fimages%252Fbl383u0v%252Fproduction%252F6097ec1c26b17401a61bfbfe4440c75ebfea1886-44x39.png/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZjZG4uc2FuaXR5LiIsInRpbWUiOjE3ODU5MjM2NDEuNTk0OTA5N30:1wrYK1:ADrauf6Kwi0CWKVfY-n6hv-J4PyjPTyZeUTpmfMAuiA" style="width:22%" width="20"/>
                               </td>
                               <td class="markets-ticker-cell" style="width:34%" valign="middle">
                                <p class="markets-table-text" style="color:#333;white-space:nowrap;vertical-align:middle;text-align:left;font-family:Helvetica, Arial, sans-serif;margin:0;padding:0;font-size:16px;font-weight:700;line-height:1em">
                                 Wayfair
                                </p>
                               </td>
                               <td class="markets-value-cell" style="width:34%" valign="middle">
                                <p class="markets-table-text" style="color:#333;white-space:nowrap;vertical-align:middle;text-align:left;font-family:Helvetica, Arial, sans-serif;margin:0;padding:0;font-size:16px;font-weight:700;line-height:1em">
                                 $116.08
                                </p>
                               </td>
                               <td class="markets-bubble-cell" style="width:20%;padding-top:8px;padding-bottom:8px" valign="middle">
                                <table border="0" cellpadding="0" cellspacing="0" class="markets-bubble" role="presentation" style="border-collapse:collapse;width:70%;margin:0 auto">
                                 <tbody>
                                  <tr>
                                   <td style="background-color:rgba(40, 211, 26, 0.3);border-radius:8px;padding:10px 8px" valign="middle">
                                    <p class="markets-table-text" style="color:#333;white-space:nowrap;vertical-align:middle;text-align:center;font-family:Helvetica, Arial, sans-serif;margin:0;padding:0;font-size:16px;font-weight:700;line-height:1em">
                                     +29.97%
                                    </p>
                                   </td>
                                  </tr>
                                 </tbody>
                                </table>
                               </td>
                              </tr>
                             </tbody>
                            </table>
                           </td>
                          </tr>
                          <tr>
                           <td style="padding:3px 15px 10px">
                            <table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse:collapse;font-size:13px">
                             <tbody>
                              <tr>
                               <td style="color:#333;padding-right:4px">
                                Data is provided by
                               </td>
                               <td style="margin:0;padding-right:5px">
                                <a rel="noopener noreferrer" style="display:block" target="_blank">
                                 <img height="16px" src="https://inboxflows.com/_/image/https%253A%252F%252Fcdn.sanity.io%252Fimages%252Fbl383u0v%252Fproduction%252F61a0dac0b53d6766459afdca784ae8fe604f17ed-720x102.png%253Fh%253D32%2526q%253D100%2526auto%253Dformat/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZjZG4uc2FuaXR5LiIsInRpbWUiOjE3ODU5MjM2NDEuNTk1MDk2OH0:1wrYK1:WPxSbsTiaFgn8Ll87UI7ZT7D3Wu1SSDU8piDTZFritQ" style="vertical-align:middle;height:16px;display:inline"/>
                                </a>
                               </td>
                              </tr>
                             </tbody>
                            </table>
                            <p style="color:#333;text-align:left;margin:0;padding:0;font-size:13px;line-height:22px">
                             *Stock data as of market close, cryptocurrency data as of
                             <!-- -->
                             <!-- -->
                             4:30pm
                             <!-- -->
                             <!-- -->
                             ET.
                             <!-- -->
                             <a class="link" rel="noopener noreferrer" style="color:#333;border-bottom:1px solid #1c7ff2;text-decoration:none" target="_blank">
                              Here's what these numbers mean.
                             </a>
                            </p>
                           </td>
                          </tr>
                         </tbody>
                        </table>
                       </td>
                      </tr>
                      <tr>
                       <td style="padding:0 15px;mso-padding-alt:0 15px 15px 15px">
                        <ul style="color:#333;margin-top:0;padding-left:30px">
                         <li style="color:#333;line-height:22px;margin-bottom:10px">
                          <strong style="color:#000;font-weight:bold">
                           Markets:
                          </strong>
                          The S&amp;P 500 hit a
                          <a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
                           record high
                          </a>
                          yesterday as investors parsed signals from the White House that a deal to open the Strait of Hormuz was imminent (more on that later). Elsewhere, Wayfair soared after it said that you’re buying a lot of bed frames and decorative trays again following a post-pandemic slowdown.
                         </li>
                        </ul>
                       </td>
                      </tr>
                      <tr>
                       <td style="padding:0 20px;mso-padding-alt:0 20px 15px 20px">
                       </td>
                      </tr>
                     </tbody>
                    </table>
                   </td>
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                        <p style="font-size:16px;font-weight:700;text-transform:uppercase;margin-bottom:0;margin-top:0;padding:15px 15px 0px 15px;color:#1c7ff2">
                         ATMOSPHERIC PRESSURE
                        </p>
                        <a style="color:#000;text-decoration:none" target="blank">
                         <p style="font-size:24px;font-weight:700;line-height:26px;margin:8px 0 0 0;padding:0 15px">
                          SpaceX tops estimates in 1st earnings report
                         </p>
                        </a>
                        <a style="border:none;text-decoration:none" target="blank">
                         <img alt="Photo collage showing two views of a SpaceX rocket side by side, on the left shows the bottom of the rocket with the top on the right." class="img-responsive" src="https://inboxflows.com/_/image/https%253A%252F%252Fmorningbrew.com%252Fcdn-cgi%252Fimage%252Fwidth%253D1336%252Cformat%253Dauto%252Fhttps%253A%252F%252Fstorage.morningbrew.com%252Fimage%252F2026-08-04%252Fimage-40c9259d8d7525c56ff058fbd0fd9ed430a67838-1500x1000-jpg%252FMBD_SpaceX_SM_08042026.jpg/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZtb3JuaW5nYnJldyIsInRpbWUiOjE3ODU5MjM2NDEuNTk1Mjc4N30:1wrYK1:9bLErXzDLEYeUqQaJp815FC9ov6gkpGL4ToXV9enJQA" style="padding-top:15px;width:100%;max-width:670px;display:block" width="670"/>
                        </a>
                        <p style="margin:0;padding:0;line-height:22px">
                         <span style="margin-top:5px;margin-bottom:0;padding-left:10px;display:inline-block;line-height:16px">
                          <small style="color:#333">
                           <em>
                            Morning Brew Inc., Photo: Unsplash
                           </em>
                          </small>
                         </span>
                        </p>
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                       <td style="padding:15px 15px">
                        <p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
                         SpaceX’s first earnings report since it went public in June wasn’t out of this world, but it was better than experts predicted. Elon Musk’s rocket, satellite, and AI company’s Q2
                         <a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
                          revenue
                         </a>
                         jumped 92% over the same time frame last year.
                        </p>
                        <p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
                         Shares of the company fell in post-close trading immediately after the announcement, likely a response to high reported expenditures, despite all three segments of the company posting better-than-expected revenue. Via StreetAccount:
                        </p>
                        <ul style="color:#333;margin-top:0;padding-left:30px">
                         <li style="color:#333;line-height:22px;margin-bottom:10px">
                          Connectivity ($4.29 billion) was the company’s only profitable arm, with Starlink’s satellite service generating $1.66 billion in operating income.
                         </li>
                         <li style="color:#333;line-height:22px;margin-bottom:10px">
                          The Space and AI businesses exceeded expectations, but Space had operating losses of $542 million, and AI wound up $1.26 billion in the red.
                         </li>
                        </ul>
                        <p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
                         <strong style="color:#000;font-weight:bold">
                          SpaceX had $18.4 billion in capital expenditures
                         </strong>
                         during Q2, with nearly $16 billion of that spending in AI. The company has said it will take years for AI spending to bring a return on investment.
                        </p>
                        <h2 style="font-size:19px;color:#000;font-weight:700;margin-top:0;margin-bottom:15px;margin-right:0;margin-left:0">
                         More stock volatility incoming?
                        </h2>
                        <p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
                         SpaceX stock has been on a wild ride since its mid-June IPO. They debuted at $135, reached a high of $225, plummeted to a low of $108 to close last week, but ticked up over the first two days of this week to finish at $125.33 yesterday before the after-hours sell-off.
                        </p>
                        <p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
                         Starting tomorrow, early investors looking to cash out are eligible to sell ~900 million shares—more than double what’s currently available in the market—worth more than $100 billion. And that’s just the beginning:
                        </p>
                        <ul style="color:#333;margin-top:0;padding-left:30px">
                         <li style="color:#333;line-height:22px;margin-bottom:10px">
                          After the company reports its Q3 earnings in November, another 1.3 billion shares will be eligible to be sold.
                         </li>
                         <li style="color:#333;line-height:22px;margin-bottom:10px">
                          Musk owns ~6.4 billion shares, and while it’s unlikely he will unload them when eligible next June, even selling off a portion could hurt the stock price.
                         </li>
                        </ul>
                        <p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
                         <strong style="color:#000;font-weight:bold">
                          Elon’s take:
                         </strong>
                         The SpaceX CEO boasted about the company’s potential in AI infrastructure compared with rivals, telling analysts it’s like “the New York Yankees going in and playing a Little League team.” He also said he wants to go full Bond villain and put a mass accelerator on the moon to launch satellites from the lunar surface. “I know that sounds totally nuts,” he said.
                         <em>
                          —DL
                         </em>
                        </p>
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                         Sponsored By State Street Investment Management
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                           Jumpstart investing with Trump Accounts and SPYM
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                         <img alt="Sponsor: State Street Investment Management" class="img-responsive" src="https://inboxflows.com/_/image/https%253A%252F%252Fmorningbrew.com%252Fcdn-cgi%252Fimage%252Fwidth%253D1336%252Cformat%253Dauto%252Fhttps%253A%252F%252Fstorage.morningbrew.com%252Fimage%252F2026-07-30%252Fimage-8e610aa0d841b0b2f1761f32d582a439195c6a00-1000x750-jpg%252FSPYM-MorningBrew-header-v21.jpg/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZtb3JuaW5nYnJldyIsInRpbWUiOjE3ODU5MjM2NDEuNTk1OTk4M30:1wrYK1:onxcFS-hHYkIBf4aK_keQiMFW1wVjSmnyj8VY19Uizk" style="padding-top:15px;width:100%;max-width:670px;display:block" width="670"/>
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                         By giving families a tax-advantaged way to invest for children from birth, Trump Accounts are designed to help build a foundation for disciplined, low-cost, long-term investing for the next generation.
                         <strong style="color:#000;font-weight:bold">
                         </strong>
                         And the US government will deposit $1,000 into Trump Accounts for eligible children born between 2025 and 2028.
                        </p>
                        <p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
                        </p>
                        <p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
                         Priced at just 0.02% and the lowest-cost US-listed S&amp;P 500®
                         <sup style="font-size:smaller;vertical-align:super">
                         </sup>
                         ETF,* the
                         <a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
                          State Street® SPDR® Portfolio S&amp;P 500® ETF (SPYM)
                         </a>
                         has been selected as the default investment for Trump Accounts.
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                        </p>
                        <p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
                         Whether seeking to build long-term wealth for your child or optimizing your own portfolio,
                         <a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
                          SPYM
                         </a>
                         provides low-cost exposure to many of America’s largest publicly traded companies in a single investment—helping investors participate in the growth potential of the US equity market.
                        </p>
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                         <a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
                          Explore SPYM
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                         .
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                         World
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                        <p style="padding-top:0;font-size:24px;font-weight:700;line-height:26px;color:#333;margin:8px 0 0 0;padding:0 15px">
                         Tour de headlines
                        </p>
                        <img alt="A vessel off the coast of Sharjah with red and orange flowers in the foreground" class="img-responsive" src="https://inboxflows.com/_/image/https%253A%252F%252Fmorningbrew.com%252Fcdn-cgi%252Fimage%252Fwidth%253D1336%252Cformat%253Dauto%252Fhttps%253A%252F%252Fstorage.morningbrew.com%252Fimage%252F2026-08-04%252Fimage-d88f9b878c72df11c09d6ff9605cbc6087747311-6089x4059-jpg%252FGettyImages-2288126785.jpg/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZtb3JuaW5nYnJldyIsInRpbWUiOjE3ODU5MjM2NDEuNTk2MTc3OH0:1wrYK1:41cRWK0m8ZthorILXckn04tQvCovs3w2XvbwWa8AEtc" style="padding-top:15px;width:100%;max-width:670px;display:block" width="670"/>
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                         <span style="margin-top:5px;margin-bottom:0;padding-left:10px;display:inline-block;line-height:16px">
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                            AFP/Getty Images
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                      <tr>
                       <td style="padding:15px 15px">
                        <p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
                         📈
                         <strong style="color:#000;font-weight:bold">
                          S&amp;P 500 hits all-time high on Iran optimism.
                         </strong>
                         Stocks ended Tuesday at their highest point ever after Treasury Secretary Scott Bessent told CNBC that the US
                         <a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
                          could reach
                         </a>
                         a deal with Iran to open the Strait of Hormuz “today or tomorrow.” As of market close, no deal had been made, but Bessent’s comments were still enough to convince investors that one was coming. Secretary of State Marco Rubio also said a deal could be reached “very shortly.” Qatar, which has served as a mediator between the US and Iran, said draft language of an agreement was being circulated among the parties yesterday.
                        </p>
                        <p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
                         🗳️
                         <strong style="color:#000;font-weight:bold">
                          El-Sayed narrowly wins Michigan’s divisive Senate Democratic primary.
                         </strong>
                         In a race that was much closer than expected, Abdul El-Sayed, a former public health official, defeated Rep. Haley Stevens to become the Wolverine State’s Democratic nominee for Senate in November’s general election, NBC News
                         <a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
                          projected
                         </a>
                         . Several recent polls had El-Sayed winning by double digits, but as of 5:30am local time this morning, El-Sayed was leading by only about 1 point, with more than 95% of the vote counted. Still, pundits see it as a major victory for the party’s left flank over an establishment candidate. El-Sayed will now face Republican Mike Rogers in November.
                        </p>
                        <p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
                         🍿
                         <strong style="color:#000;font-weight:bold">
                          Ellison defends Paramount-Warner deal in NYT op-ed.
                         </strong>
                         Paramount Skydance CEO David Ellison wants you to know that he’s going to take very good care of CNN. In an
                         <a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
                          essay
                         </a>
                         for the New York Times, the media magnate claimed that the antitrust lawsuit that’s seeking to stop Paramount’s proposed takeover of rival Warner Bros. Discovery is not actually driven by regulatory concerns. “The issue is whether I can be trusted as a steward of Warner’s CNN,” Ellison wrote. He explained that he has voted for candidates of both political parties, holds both conservative and liberal positions, and believes in journalistic independence. Ellison, who is the son of Oracle co-founder and Trump ally Larry Ellison, has been accused of making politically-motivated changes to CBS News and its flagship program,
                         <em>
                          60 Minutes
                         </em>
                         .
                         <em>
                          —AE
                         </em>
                        </p>
                       </td>
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                   <td style="display:block;background-color:#fff;border-radius:15px;border:1px solid #e6e6e6;box-shadow:none;margin-bottom:0px;font-size:16px">
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                        <p style="font-size:16px;font-weight:700;text-transform:uppercase;margin-bottom:0;margin-top:0;padding:15px 15px 0px 15px;color:#1c7ff2">
                         NOT LOVIN’ IT
                        </p>
                        <a style="color:#000;text-decoration:none" target="blank">
                         <p style="font-size:24px;font-weight:700;line-height:26px;margin:8px 0 0 0;padding:0 15px">
                          McD’s replaces its US head after value deals flop
                         </p>
                        </a>
                        <a style="border:none;text-decoration:none" target="blank">
                         <img alt="McDonald's logo sign with icicles hanging off it" class="img-responsive" src="https://inboxflows.com/_/image/https%253A%252F%252Fmorningbrew.com%252Fcdn-cgi%252Fimage%252Fwidth%253D1336%252Cformat%253Dauto%252Fhttps%253A%252F%252Fstorage.morningbrew.com%252Fimage%252F2026-08-04%252Fimage-2b7d1924f9a3124f9fac956cecafefb6e6ff16e2-7744x5165-jpg%252FGettyImages-2247581603.jpg/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZtb3JuaW5nYnJldyIsInRpbWUiOjE3ODU5MjM2NDEuNTk2MzUyNn0:1wrYK1:kLyErXGainatQZbIeQ3nJ5UVo6Uk-TunXUDXdmSrIRs" style="padding-top:15px;width:100%;max-width:670px;display:block" width="670"/>
                        </a>
                        <p style="margin:0;padding:0;line-height:22px">
                         <span style="margin-top:5px;margin-bottom:0;padding-left:10px;display:inline-block;line-height:16px">
                          <small style="color:#333">
                           <em>
                            Icicles are seen on McDonald's restaurant logo sign
                           </em>
                          </small>
                         </span>
                        </p>
                       </td>
                      </tr>
                      <tr>
                       <td style="padding:15px 15px">
                        <p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
                         McDonald’s earnings last quarter were like a carton of soggy fries for investors, as it struggled to woo lower-income Americans with bargains. The company
                         <a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
                          reported
                         </a>
                         yesterday that its US same-store sales grew 0.8% in Q2, down from 3.9% in Q1 and lower than the 1.06% analysts expected.
                        </p>
                        <p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
                         The Golden Arches blamed the stateside growth slowdown on the poor execution of sound strategy, and announced yesterday that it’s replacing its longtime US business head Joe Erlinger with its COO Skye Anderson.
                        </p>
                        <h2 style="font-size:19px;color:#000;font-weight:700;margin-top:0;margin-bottom:15px;margin-right:0;margin-left:0">
                         It’s the chef, not the ingredients
                        </h2>
                        <p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
                         The chain was banking on World Cup and KPop Demon Hunters meal discounts, as well as an updated under-$3 menu to juice sales. But:
                        </p>
                        <ul style="color:#333;margin-top:0;padding-left:30px">
                         <li style="color:#333;line-height:22px;margin-bottom:10px">
                          McD’s now says it launched too many promotions at once, straining restaurants and driving up customer wait times.
                         </li>
                         <li style="color:#333;line-height:22px;margin-bottom:10px">
                          Many franchisees didn’t offer the under-$3 menu. Some actually
                          <em>
                           raised
                          </em>
                          prices. Meanwhile, the chain nixed certain in-app promotions and its popular Buy One, Get One for $1 deal.
                         </li>
                        </ul>
                        <p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
                         Foot traffic fell last quarter—though customers spent more on average, partially due to a new specialty drinks lineup.
                        </p>
                        <p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
                         <strong style="color:#000;font-weight:bold">
                          To turn things around…
                         </strong>
                         McDonald’s says it’s bringing back more in-app deals and refocusing on marketing time-tested promotions like Extra Value Meals. It’s also working to upgrade its menu and revamp store designs.
                         <em>
                          —SK
                         </em>
                        </p>
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                        <p style="font-size:16px;font-weight:700;text-transform:uppercase;margin-bottom:0;margin-top:0;padding:15px 15px 0px 15px;color:#1c7ff2">
                         Sponsored By Engine
                        </p>
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                         <img alt="Sponsor: Engine" class="img-responsive" src="https://inboxflows.com/_/image/https%253A%252F%252Fmorningbrew.com%252Fcdn-cgi%252Fimage%252Fwidth%253D1336%252Cformat%253Dauto%252Fhttps%253A%252F%252Fstorage.morningbrew.com%252Fimage%252F2026-07-29%252Fimage-f7107b6ca30d6ed19907b2c8f1363b734d02aa8c-6000x3852-jpg%252Ftoa-heftiba-3y_dY4vSXII-unsplash.jpg/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZtb3JuaW5nYnJldyIsInRpbWUiOjE3ODU5MjM2NDEuNTk3MTA1N30:1wrYK1:j_ORZp_5PlGwlZBYLq2CM2dT6kzn9dHtkFKbUfD9m90" style="padding-top:15px;width:100%;max-width:670px;display:block" width="670"/>
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                        <p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
                         <strong style="color:#000;font-weight:bold">
                          Business travel trip-ups.
                         </strong>
                         Business travel doesn’t have to be as stressful as missing your connecting flight.
                         <a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
                          The right travel platform
                         </a>
                         helps make things easy-breezy. Our latest article, in partnership with Engine, clears up some lingering misconceptions about who can and should use a travel platform.
                         <a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
                          Read it here
                         </a>
                         .
                        </p>
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                        <p style="font-size:16px;font-weight:700;text-transform:uppercase;margin-bottom:0;margin-top:0;padding:15px 15px 0px 15px;color:#1c7ff2">
                         pc4pc
                        </p>
                        <a style="color:#000;text-decoration:none" target="blank">
                         <p style="font-size:24px;font-weight:700;line-height:26px;margin:8px 0 0 0;padding:0 15px">
                          Myspace is coming back xD
                         </p>
                        </a>
                        <a style="border:none;text-decoration:none" target="blank">
                         <img alt="Illustration of Tom from Myspace, a light-skinned man with short brown hair, emerging from a black hole, waving hello." class="img-responsive" src="https://inboxflows.com/_/image/https%253A%252F%252Fmorningbrew.com%252Fcdn-cgi%252Fimage%252Fwidth%253D1336%252Cformat%253Dauto%252Fhttps%253A%252F%252Fstorage.morningbrew.com%252Fimage%252F2026-08-04%252Fimage-a27eed12f9553a82f51b695b793a72fa70be5177-1500x1000-jpg%252FMBD_08042026_MyspaceReturns_02.jpg/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZtb3JuaW5nYnJldyIsInRpbWUiOjE3ODU5MjM2NDEuNTk3MjgwN30:1wrYK1:RisEriO7R6ISRArD35BdhH2FMswIicVL4xHFJ1Qdifo" style="padding-top:15px;width:100%;max-width:670px;display:block" width="670"/>
                        </a>
                        <p style="margin:0;padding:0;line-height:22px">
                         <span style="margin-top:5px;margin-bottom:0;padding-left:10px;display:inline-block;line-height:16px">
                          <small style="color:#333">
                           <em>
                            Niv Bavarsky
                           </em>
                          </small>
                         </span>
                        </p>
                       </td>
                      </tr>
                      <tr>
                       <td style="padding:15px 15px">
                        <p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
                         Hope you have an obscure profile song ready that you’ve been sitting on since the 2008 housing crisis. The current owners of Myspace
                         <a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
                          said
                         </a>
                         in a recent documentary that they have plans to relaunch the OG social media platform (again).
                        </p>
                        <p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
                         <strong style="color:#000;font-weight:bold">
                          Will Myspace return to its DIY coding glory?
                         </strong>
                         Chris and Tim Vanderhook, who bought the site alongside
                         <em>
                          Black Snake Moan
                         </em>
                         star Justin Timberlake for $35 million in 2011, didn’t give a specific timeline or any details about what THE new Myspace would look like. The Vanderhooks have already tried revamping the site, releasing a music-focused version in 2013.
                        </p>
                        <p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
                         If you missed that…well, so did everyone else:
                        </p>
                        <ul style="color:#333;margin-top:0;padding-left:30px">
                         <li style="color:#333;line-height:22px;margin-bottom:10px">
                          The pair said they lost about $150 million on the failed redesign.
                         </li>
                         <li style="color:#333;line-height:22px;margin-bottom:10px">
                          As soon as the deal was finalized, they said advertisers left the platform in droves for Facebook.
                         </li>
                        </ul>
                        <p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
                         <strong style="color:#000;font-weight:bold">
                          Emo millennials are still hopeful.
                         </strong>
                         Originally founded in 2003, the site is credited with helping to launch the careers of musicians like Adele, Lily Allen, and the Arctic Monkeys. At its heyday in 2006, Myspace was the most-visited website in the US, making up almost 5% of all browser traffic. Co-founders Tom Anderson (you’ve seen
                         <a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
                          his pic
                         </a>
                         ) and Chris DeWolfe sold the company to NewsCorp in 2005 for $580 million.—
                         <em>
                          MM
                         </em>
                        </p>
                        <div style="padding-top:12px">
                         <a rel="noopener noreferrer" style="text-decoration:none" target="_blank">
                          <img alt="Share on Facebook" src="https://inboxflows.com/_/image/https%253A%252F%252Fcdn.sanity.io%252Fimages%252Fbl383u0v%252Fproduction%252F75fb8a70db5f5bc6b7210cdde05dfa91eeb3f0ef-96x96.png%253Fw%253D50%2526fit%253Dmax/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZjZG4uc2FuaXR5LiIsInRpbWUiOjE3ODU5MjM2NDEuNTk3NDU1fQ:1wrYK1:3Y5YNX81CPulyloBERmFXCPOmdf9Pm5XpNoDBCmie7M" style="width:25px;display:inline-block"/>
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                        <p style="font-size:16px;font-weight:700;text-transform:uppercase;margin-bottom:0;margin-top:0;padding:15px 15px 0px 15px;color:#1c7ff2">
                         Reader Poll
                        </p>
                       </td>
                      </tr>
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                       <td style="padding:15px 15px">
                        <div style="margin-bottom:15px;line-height:22px">
                         <div style="margin-bottom:5px">
                          <p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
                           Did you have a Myspace page?
                          </p>
                         </div>
                         <a class="link" rel="noopener noreferrer" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2" target="_blank">
                          Of course.
                          <br/>
                         </a>
                         <a class="link" rel="noopener noreferrer" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2" target="_blank">
                          No, I was too old.
                          <br/>
                         </a>
                         <a class="link" rel="noopener noreferrer" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2" target="_blank">
                          No, I was too young.
                          <br/>
                         </a>
                         <a class="link" rel="noopener noreferrer" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2" target="_blank">
                          Team LiveJournal all the way.
                          <br/>
                         </a>
                        </div>
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                 <tbody>
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                   <td style="display:block;background-color:#fff;border-radius:15px;border:1px solid #e6e6e6;box-shadow:none;margin-bottom:0px;font-size:16px">
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                       <td>
                        <p style="font-size:16px;font-weight:700;text-transform:uppercase;margin-bottom:0;margin-top:0;padding:15px 15px 0px 15px;color:#1c7ff2">
                         Sam’s stock of the week
                        </p>
                        <p style="padding-top:0;font-size:24px;font-weight:700;line-height:26px;color:#333;margin:8px 0 0 0;padding:0 15px">
                         Palantir is raking in an “otherworldly” amount of cash
                        </p>
                        <img alt="Alex Karp in sunglasses and baseball cap with his arm outstretched in a fist" class="img-responsive" src="https://inboxflows.com/_/image/https%253A%252F%252Fmorningbrew.com%252Fcdn-cgi%252Fimage%252Fwidth%253D1336%252Cformat%253Dauto%252Fhttps%253A%252F%252Fstorage.morningbrew.com%252Fimage%252F2026-08-04%252Fimage-6072591cdaf417b79aedb5ec4b8b5c4c76a26cce-4102x2735-jpg%252FGettyImages-2224509699.jpg/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZtb3JuaW5nYnJldyIsInRpbWUiOjE3ODU5MjM2NDEuNTk3OTYzOH0:1wrYK1:S8raTNqcpdS3_9j7wHv2H8UxkHINhSBEcjdQ7SGiBLw" style="padding-top:15px;width:100%;max-width:670px;display:block" width="670"/>
                        <p style="margin:0;padding:0;line-height:22px">
                         <span style="margin-top:5px;margin-bottom:0;padding-left:10px;display:inline-block;line-height:16px">
                          <small style="color:#333">
                           <em>
                            Kevin Dietsch/Getty Images
                           </em>
                          </small>
                         </span>
                        </p>
                       </td>
                      </tr>
                      <tr>
                       <td style="padding:15px 15px">
                        <p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
                         <em>
                          On Wednesdays, the Brew’s Sam Klebanov highlights a fascinating stock, commodity, or other asset that’s worth your attention.
                         </em>
                        </p>
                        <p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
                         Palantir is celebrating a civilization-shifting bonanza, as its philosopher-turned-CEO Alex Karp might put it. Shares of the US government’s favorite shadowy data firm
                         <a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
                          soared
                         </a>
                         29% yesterday after it reported skyrocketing sales in the last quarter:
                        </p>
                        <ul style="color:#333;margin-top:0;padding-left:30px">
                         <li style="color:#333;line-height:22px;margin-bottom:10px">
                          Palantir’s Q2 revenue jumped 93% from the year before to $1.9 billion, and its quarterly profit of $1.1 billion was equivalent to its
                          <em>
                           revenue
                          </em>
                          in Q2 of 2025.
                         </li>
                         <li style="color:#333;line-height:22px;margin-bottom:10px">
                          Its commercial revenue also grew 28% from the previous quarter.
                         </li>
                        </ul>
                        <p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
                         Karp attributed Palantir’s burgeoning corporate customer base to a “revolt” against AI labs like OpenAI and Anthropic, which he says “capture the means of production” of their corporate customers by lifting their data and using it to train models. (OpenAI and Anthropic deny doing this.) He contrasted it with Palantir’s  approach of building AI systems that let customers keep their IP in-house.
                        </p>
                        <p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
                         <strong style="color:#000;font-weight:bold">
                          But…
                         </strong>
                         Palantir’s stock is still down ~5% since the start of the year amid fears that the AI spending boom might lose steam.
                         <em>
                          —SK
                         </em>
                        </p>
                       </td>
                      </tr>
                     </tbody>
                    </table>
                   </td>
                  </tr>
                 </tbody>
                </table>
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                       <td>
                        <p style="font-size:16px;font-weight:700;text-transform:uppercase;margin-bottom:0;margin-top:0;padding:15px 15px 0px 15px;color:#1c7ff2">
                         Sponsored By Particle
                        </p>
                        <a style="border:none;text-decoration:none" target="blank">
                         <img alt="Sponsor: Particle" class="img-responsive" src="https://inboxflows.com/_/image/https%253A%252F%252Fmorningbrew.com%252Fcdn-cgi%252Fimage%252Fwidth%253D1336%252Cformat%253Dauto%252Fhttps%253A%252F%252Fstorage.morningbrew.com%252Fimage%252F2026-08-04%252Fimage-7a665b21c2b59369f2166e85394fde80f874c297-1619x971-png%252FFaceCreamNikolaCaldera_1619x971.png/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZtb3JuaW5nYnJldyIsInRpbWUiOjE3ODU5MjM2NDEuNTk4MTQxfQ:1wrYK1:NFcLHmdovUSM-8B3_WimJR0-Tzyfn-rJl_Wfftm-BUQ" style="padding-top:15px;width:100%;max-width:670px;display:block" width="670"/>
                        </a>
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                        <p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
                         <strong style="color:#000;font-weight:bold">
                          Skincare for guys who hate skincare.
                         </strong>
                         Eye bags, wrinkles, dark spots—your face keeps a receipt. Particle Face Cream is the
                         <a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
                          6-in-1 fix that handles all three
                         </a>
                         twice a day, with no fuss. Over 1 million guys already look more rested for it. Brew readers
                         <a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
                          get 20% off with code NEWS20
                         </a>
                         , plus a 30-day money-back guarantee.
                        </p>
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                        <p style="font-size:16px;font-weight:700;text-transform:uppercase;margin-bottom:0;margin-top:0;padding:15px 15px 0px 15px;color:#1c7ff2">
                         News
                        </p>
                        <p style="padding-top:0;font-size:24px;font-weight:700;line-height:26px;color:#333;margin:8px 0 0 0;padding:0 15px">
                         What else is brewing
                        </p>
                       </td>
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                       <td style="padding:15px 15px">
                        <ul style="color:#333;margin-top:0;padding-left:30px">
                         <li style="color:#333;line-height:22px;margin-bottom:10px">
                          <a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
                           Todd Blanche
                          </a>
                          , President Trump’s former personal lawyer, was approved by the Republican-led Senate Judiciary Committee for a vote to become attorney general after agreeing to kill the Trump administration’s controversial “anti-weaponization fund.”
                         </li>
                         <li style="color:#333;line-height:22px;margin-bottom:10px">
                          <a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
                           A suspect
                          </a>
                          has been arrested and charged with intentionally setting the biggest of three ongoing wildfires near Spokane, Washington.
                         </li>
                         <li style="color:#333;line-height:22px;margin-bottom:10px">
                          <a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
                           Spotify
                          </a>
                          said it hit 300 million premium subscribers, “a milestone no audio streaming service has ever reached.”
                         </li>
                         <li style="color:#333;line-height:22px;margin-bottom:10px">
                          <a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
                           New Jersey
                          </a>
                          sued Amazon, alleging that the e-commerce giant abuses its market power to mistreat independent delivery drivers in the state, which Amazon denied.
                         </li>
                         <li style="color:#333;line-height:22px;margin-bottom:10px">
                          <a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
                           Bending Spoons
                          </a>
                          , the Italian tech conglomerate that bought AOL and Vimeo, acquired spreadsheet platform Airtable for $1.28 billion yesterday in its first deal since going public last month.
                         </li>
                         <li style="color:#333;line-height:22px;margin-bottom:10px">
                          <a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
                           Procter &amp; Gamble
                          </a>
                          is buying the supplement brand Thorne for $3.8 billion, CNBC reported.
                         </li>
                        </ul>
                       </td>
                      </tr>
                     </tbody>
                    </table>
                   </td>
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                    <table cellpadding="0" cellspacing="0" role="presentation" style="width:100%;border-collapse:collapse">
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                       <td>
                        <p style="font-size:16px;font-weight:700;text-transform:uppercase;margin-bottom:0;margin-top:0;padding:15px 15px 0px 15px;color:#1c7ff2">
                         recs
                        </p>
                        <img alt="To-Do List" class="img-responsive" src="https://inboxflows.com/_/image/https%253A%252F%252Fmorningbrew.com%252Fcdn-cgi%252Fimage%252Fwidth%253D1336%252Cformat%253Dauto%252Fhttps%253A%252F%252Fstorage.morningbrew.com%252Fimage%252F2025-11-24%252Fimage-ff42f96869558a4ad4ab4f10936a3830dbf1d044-1350x330-png%252FMB_newsletter_banner_new.png/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZtb3JuaW5nYnJldyIsInRpbWUiOjE3ODU5MjM2NDEuNTk4MzM4NH0:1wrYK1:PzFxinolGjKX_tRK7AL7Qcj5-0dj-Shlw9lbJFtnPWI" style="padding-top:15px;width:100%;max-width:670px;display:block" width="670"/>
                       </td>
                      </tr>
                      <tr>
                       <td style="padding:15px 15px">
                        <ul style="color:#333;margin-top:0;padding-left:30px">
                         <li style="color:#333;line-height:22px;margin-bottom:10px">
                          How to help your pets avoid venomous
                          <a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
                           snakes
                          </a>
                          .
                         </li>
                         <li style="color:#333;line-height:22px;margin-bottom:10px">
                          The
                          <a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
                           oldest college
                          </a>
                          in every state.
                         </li>
                         <li style="color:#333;line-height:22px;margin-bottom:10px">
                          Draw any shape, and hear what it would
                          <a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
                           sound like
                          </a>
                          as a drum.
                         </li>
                         <li style="color:#333;line-height:22px;margin-bottom:10px">
                          A great
                          <a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
                           personal fan
                          </a>
                          option for $20.**
                         </li>
                        </ul>
                        <div>
                         <!-- -->
                         <ul style="color:#333;margin-top:0;padding-left:30px">
                          <li style="color:#333;line-height:22px;margin-bottom:10px">
                           Is your car insurance getting expensive?
                           <a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
                            This free tool
                           </a>
                           can help you find better options—and
                           <a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
                            save you up to $600 a year
                           </a>
                           . You’re welcome.*
                          </li>
                         </ul>
                         <!-- -->
                        </div>
                        <p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
                         <sup style="font-size:smaller;vertical-align:super">
                          <em>
                           *A message from our sponsor. **This is a product recommendation from our writers. When you buy through this link, Morning Brew may earn a commission.
                          </em>
                         </sup>
                        </p>
                       </td>
                      </tr>
                     </tbody>
                    </table>
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                   <td style="display:block;background-color:#fff;border-radius:15px;border:1px solid #e6e6e6;box-shadow:none;margin-bottom:0px;font-size:16px">
                    <table cellpadding="0" cellspacing="0" role="presentation" style="width:100%;border-collapse:collapse">
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                       <td>
                        <p style="font-size:16px;font-weight:700;text-transform:uppercase;margin-bottom:0;margin-top:0;padding:15px 15px 0px 15px;color:#1c7ff2">
                         Play
                        </p>
                        <a style="border:none;text-decoration:none" target="blank">
                         <img alt="Games available from Morning Brew" class="img-responsive" src="https://inboxflows.com/_/image/https%253A%252F%252Fmorningbrew.com%252Fcdn-cgi%252Fimage%252Fwidth%253D1336%252Cformat%253Dauto%252Fhttps%253A%252F%252Fstorage.morningbrew.com%252Fimage%252F2025-09-11%252Fimage-3524949da8d220051120175f97246671d52e0b38-2700x660-png%252FIMG_9052.png/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZtb3JuaW5nYnJldyIsInRpbWUiOjE3ODU5MjM2NDEuNTk4NTMwNX0:1wrYK1:1xKLTJylHHyQF7il5N6uxyBj1vMIf2Sztrq1jS3nHE8" style="padding-top:15px;width:100%;max-width:670px;display:block" width="670"/>
                        </a>
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                       <td style="padding:15px 15px">
                        <p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
                         <strong style="color:#000;font-weight:bold">
                          Word Search:
                         </strong>
                         Our puzzle this week asks you to identify extreme sports. Crack open a Red Bull and
                         <a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
                          play the Word Search here
                         </a>
                         .
                        </p>
                        <h2 style="font-size:19px;color:#000;font-weight:700;margin-top:0;margin-bottom:15px;margin-right:0;margin-left:0">
                         Car trivia
                        </h2>
                        <p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
                         What does this list represent?
                        </p>
                        <ol>
                         <li>
                          Hyundai Elantra (21,732)
                         </li>
                         <li>
                          Honda Accord (17,797)
                         </li>
                         <li>
                          Hyundai Sonata (17,687)
                         </li>
                         <li>
                          Chevrolet Silverado 1500 (16,764)
                         </li>
                         <li>
                          Honda Civic (12,725)
                         </li>
                         <li>
                          Kia Optima (11,521)
                         </li>
                         <li>
                          Ford F150 (10,102)
                         </li>
                         <li>
                          Toyota Camry (9,833)
                         </li>
                         <li>
                          Honda CR-V (9,809)
                         </li>
                         <li>
                          Nissan Altima (8,445)
                         </li>
                        </ol>
                       </td>
                      </tr>
                     </tbody>
                    </table>
                   </td>
                  </tr>
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                </table>
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                       <td>
                        <p style="font-size:16px;font-weight:700;text-transform:uppercase;margin-bottom:0;margin-top:0;padding:15px 15px 0px 15px;color:#1c7ff2">
                         Share the Brew
                        </p>
                        <div style="color:#333;padding:15px">
                         <a>
                          <img alt="Referrals Get Rewarded" src="https://inboxflows.com/_/image/https%253A%252F%252Fcdn.sanity.io%252Fimages%252Fbl383u0v%252Fproduction%252F186d427b237afa331a96448ae17d5a27b6d8ca2a-1350x330.png%253Fw%253D1340%2526q%253D100%2526auto%253Dformat/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZjZG4uc2FuaXR5LiIsInRpbWUiOjE3ODU5MjM2NDEuNTk4Njk3N30:1wrYK1:zQVdi5iK502sGW0MYJFwr1W1u7iJds77pEs2ba1KuAU" style="width:100%;max-width:670px;display:block;margin-bottom:15px;" width="670"/>
                         </a>
                         <p style="margin-bottom:15px;line-height:22px;">
                          Share the Brew, watch your referral count climb, and unlock brag-worthy swag.
                         </p>
                         <p style="margin-bottom:15px;line-height:22px;">
                          Your friends get smarter. You get rewarded. Win-win.
                         </p>
                         <p style="margin-bottom:15px;line-height:22px;">
                          <b>
                           Your referral count:
                          </b>
                          0
                         </p>
                         <a class="stb-btn" style="margin-top:inherit !important;margin-bottom:inherit !important;margin-right:inherit !important;margin-left:inherit !important;width:100%;max-width:150px;font-family:Helvetica, Arial, sans-serif;font-size:16px;color:#ffffff;font-weight:900;text-decoration:none;text-align:center;background-color:#1c7ff2;padding-top:15px;padding-bottom:15px;padding-right:15px;padding-left:15px;border-radius:4px;display:block;">
                          Click to Share
                         </a>
                         <p style="margin-top:15px;margin-bottom:15px;line-height:22px;">
                          Or copy &amp; paste your referral link to others:
                          <br/>
                          <a class="link" style="border-bottom-width:2px;border-bottom-style:solid;border-bottom-color:#1c7ff2;text-decoration:none;color:#252525;" target="_blank">
                           morningbrew.com/r/?kid=979c4554
                          </a>
                         </p>
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                        <p style="font-size:16px;font-weight:700;text-transform:uppercase;margin-bottom:0;margin-top:0;padding:15px 15px 0px 15px;color:#1c7ff2">
                         Answer
                        </p>
                       </td>
                      </tr>
                      <tr>
                       <td style="padding:15px 15px">
                        <p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
                         The most stolen vehicles in the US last year
                        </p>
                        <p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
                         <span style="text-decoration:underline">
                          Word of the Day
                         </span>
                        </p>
                        <p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
                         Today’s Word of the Day is: burgeoning, meaning “growing or developing quickly.” Thanks to Georgia from the Pacific Northwest for the suggestion. Submit another Word of the Day
                         <a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
                          here
                         </a>
                         .
                        </p>
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                 <tbody>
                  <tr>
                   <td style="display:block;background-color:#fff;border-radius:15px;border:1px solid #e6e6e6;box-shadow:none;margin-bottom:0px;font-size:16px">
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                           ✢
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                         <p style="font-size:16px;line-height:22px;color:#333;margin-top:0;margin-bottom:15px">
                          *Bloomberg Finance L.P. as of June 26, 2026. In the US there are four ETFs that passively track the S&amp;P 500 with no leverage. Within this group SPYM’s expense ratio of 0.02% per year is the lowest. Peer group consists of SPYM, SPY, IVV, and VOO.
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                         <p style="font-size:16px;line-height:22px;color:#333;margin-top:0;margin-bottom:15px">
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                         <p style="font-size:16px;line-height:22px;color:#333;margin-top:0;margin-bottom:15px">
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