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July 31, 2026
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<table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse:collapse;width:100%">
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<td style="padding-top:20px">
<p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
<strong style="color:#000;font-weight:bold">
Expecto Patronum
</strong>
, and happy 46th birthday to the character Harry Potter. Time has done a number on your favorite boy wizard—he’s got a Butterbeer belly and is seeking more from life than just the Snitch. For further reading:
</p>
<ul style="color:#333;margin-top:0;padding-left:30px">
<li style="color:#333;line-height:22px;margin-bottom:10px">
Harry Potter and the Thermostat Adjustment
</li>
<li style="color:#333;line-height:22px;margin-bottom:10px">
Harry Potter and the Signed Text Message
</li>
<li style="color:#333;line-height:22px;margin-bottom:10px">
Harry Potter and the Loud Sigh Before Sitting Down
</li>
<li style="color:#333;line-height:22px;margin-bottom:10px">
Harry Potter and the Forgotten Password
</li>
</ul>
<p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
<em>
—Sam Klebanov, Dave Lozo, 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 US GDP growth slowing, Jersey Mike’s going public, and the burgeoning college sports jersey patch wars.
</p>
</td>
</tr>
</tbody>
</table>
</td>
</tr>
</tbody>
</table>
</div>
<div class="c6" style="margin-bottom:7px">
<table bgcolor="#ffffff" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse:collapse" width="100%">
<tbody>
<tr>
<td>
<table cellpadding="0" cellspacing="0" role="presentation" style="width:100%;border-collapse:collapse">
<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">
<table cellpadding="0" cellspacing="0" role="presentation" style="width:100%;border-collapse:collapse">
<tbody>
<tr>
<td class="pcard370" style="padding-bottom:15px">
<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=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZjZG4uc2FuaXR5LiIsInRpbWUiOjE3ODU0OTA0NDUuMTg2NjAzOH0:1wpjcz:1rmdebxPr-iai1RKR4VTKqT53e8qakFEoebT84q8QIA" 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">
25,122.18
</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">
+2.78%
</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=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZjZG4uc2FuaXR5LiIsInRpbWUiOjE3ODU0OTA0NDUuMTg2NzU3OH0:1wpjcz:80-Edpko6XASEkek7Xs-L-NuKCwpSQ-xKBAP25cLRkc" 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&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">
7,437.63
</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">
+1.66%
</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=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZjZG4uc2FuaXR5LiIsInRpbWUiOjE3ODU0OTA0NDUuMTg2ODc4N30:1wpjcz:bUTaUVBJRpcvMKD2qpU_lQ4aR141SrxkeqwBAMSIsc0" 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">
52,208.06
</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">
+1.19%
</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=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZjZG4uc2FuaXR5LiIsInRpbWUiOjE3ODU0OTA0NDUuMTg3MDQ5fQ:1wpjcz:Q2_JCAKkC4fWjEoEZtHLBozxu_Ty8yrOijHhpReNSAc" 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">
4.663%
</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">
+4.0 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=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZjZG4uc2FuaXR5LiIsInRpbWUiOjE3ODU0OTA0NDUuMTg3MjAzNH0:1wpjcz:hbmXVhYdTg2zsX_hk1R6VobmWcolcIsuNZ_o7hNVrWY" 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">
$64,713.56
</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">
+2.01%
</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=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZjZG4uc2FuaXR5LiIsInRpbWUiOjE3ODU0OTA0NDUuMTg3MzIyNH0:1wpjcz:_Pj6t3LG9jJqFOs4YcA9HGWuMzrTE7xO8M5QQ_8VOkE" 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">
Microsoft
</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">
$451.1
</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">
+15.51%
</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=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZjZG4uc2FuaXR5LiIsInRpbWUiOjE3ODU0OTA0NDUuMTg3NDM5NH0:1wpjcz:zFjxEQiJf-DQJIBOlaN4Ng9sYdjmA-HJLrXHDBgaWFI" 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
<!-- -->
<!-- -->
5:00pm
<!-- -->
<!-- -->
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>
Stocks
<a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
soared
</a>
yesterday as a tech rally shifted the bad vibes from earlier in the week. The rise was fueled by Microsoft, which went absolutely berserk, spiking more than 15% in the largest-ever single-day jump in a company’s market value after impressing investors with its latest earnings report.
</li>
</ul>
</td>
</tr>
<tr>
<td style="padding:0 20px;mso-padding-alt:0 20px 15px 20px">
</td>
</tr>
</tbody>
</table>
</td>
</tr>
</tbody>
</table>
</td>
</tr>
</tbody>
</table>
</div>
<div class="c6" style="margin-bottom:7px">
<table cellpadding="0" cellspacing="0" role="presentation" style="border-collapse:collapse" width="100%">
<tbody>
<tr>
<td>
<table cellpadding="0" cellspacing="0" role="presentation" style="width:100%;border-collapse:collapse">
<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">
<table cellpadding="0" cellspacing="0" role="presentation" style="width:100%;border-collapse:collapse">
<tbody>
<tr>
<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">
JUST KEEP SWIMMING
</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">
US GDP slows, but consumers are still consuming
</p>
</a>
<a style="border:none;text-decoration:none" target="blank">
<img alt="Illustration of a snail that looks like the US flag, with a red and white striped shell and blue body covered in stars." 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-ab29a816f0e162dc50dfcdb82aae83006af37324-3000x2000-png%252FMBD_20260730_GDPSNAIL_NI_01.png/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZtb3JuaW5nYnJldyIsInRpbWUiOjE3ODU0OTA0NDUuMTg3NTY2NX0:1wpjcz:H6FvkcVI9cwBqr8UskiPdV_3kdTkoMb-ZTdKWbFw_tY" 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">
<small style="color:#333">
<em>
Nick Iluzada
</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">
The US economy is growing at a slower pace, but it’s not letting anything knock it down. GDP growth sank to 1.5% last quarter, the government
<a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
estimated
</a>
yesterday, down from 2.1% in the previous quarter and below the 1.8% that economists expected.
</p>
<p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
But, after stripping out volatile government spending and trade numbers, the US economy still grew a relatively healthy 3.9% despite jitters from the Iran war—largely because Americans kept shopping:
</p>
<ul style="color:#333;margin-top:0;padding-left:30px">
<li style="color:#333;line-height:22px;margin-bottom:10px">
Growth in consumer spending, aka the mighty fuel of the US economy, accelerated to 3.2%, from 0.5% in Q1.
</li>
<li style="color:#333;line-height:22px;margin-bottom:10px">
Analysts say that household budgets were aided by bigger-than-usual tax refunds this spring and gas price declines in June stemming from a ceasefire in the Iran war, which has since unraveled.
</li>
</ul>
<p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
A separate government report showed that cheaper gas contributed to overall consumer prices falling in June by 0.1% for the first time in six years, though the annual inflation number of 3.7% was still above the Fed’s goal of 2%. Analysts warn that Americans’ purchasing power might run out of steam this quarter as resumed fighting in Iran reignites inflation.
</p>
<h2 style="font-size:19px;color:#000;font-weight:700;margin-top:0;margin-bottom:15px;margin-right:0;margin-left:0">
The AI splurge economy
</h2>
<p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
Much of the economic expansion was driven by growth in business investment, courtesy of companies spending big on AI infrastructure. More than half of the overall GDP growth in Q2 was driven by AI-related investments like data center construction, according to an estimate by Stripe’s Chief Economist Ernie Tedeschi.
</p>
<p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
However, some corporate AI spending might have actually dampened the official GDP number, since many chips and other supplies came from abroad, accelerating import growth.
</p>
<p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
<strong style="color:#000;font-weight:bold">
Looking ahead:
</strong>
The government will likely revise its Q2 growth estimate in the coming weeks, and the Federal Reserve will be watching closely as it weighs whether to raise interest rates in September to fight stubbornly high inflation.
<em>
—SK
</em>
</p>
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<tbody>
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<tbody>
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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 PwC
</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">
<strong style="font-weight:bold">
Lights, camera, AI?
</strong>
</p>
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<p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
To be (AI) or not to be (AI), that is the question.
</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">
The entry of artificial intelligence into moviemaking has been…you guessed it…dramatic. And
<a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
<em>
The Intelligence Shift
</em>
</a>
is ready to discuss the shift.
</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">
Early concerns about intellectual property theft and actors and crew being replaced have filled the discourse. But a new picture is beginning to cue up.
</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">
<a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
This episode
</a>
was filmed parallel to the 25th annual Tribeca Film Festival, which has admitted the first AI film,
<em>
Dreams of Violets
</em>
, just this year.
</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">
Host Dan Priest is joined by Bryn Mooser, cofounder and CEO of Asteria Film. As an Emmy- and Peabody-winning filmmaker, Bryn brings deep knowledge to developing new filmmaking tools powered by AI.
</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">
<a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
Here’s your backstage pass to the episode
</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">
World
</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">
Tour de headlines
</p>
<img alt="Tim Cook speaks at Apple's Worldwide Developers Conference" 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-cb9e2917d281cc4f543cb1be5eab598a97b0db66-6163x4255-jpg%252FUS-IT-COMPUTERS-TELECOMMUNICATION-APPLE/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZtb3JuaW5nYnJldyIsInRpbWUiOjE3ODU0OTA0NDUuMTg4MTAwOH0:1wpjcz:ngKzfPXCxl3u8mFK1pxqsg1Kg1fNqesbx_BH7G1ZS3M" 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>
Josh Edelson/Getty Images
</em>
</small>
</span>
</p>
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</tr>
<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">
Tim Cook has hosted his last earnings call as Apple CEO.
</strong>
The tech giant reported fiscal Q3 earnings yesterday, the final check-in with investors before CEO Tim Cook passes the baton to John Ternus on Sept. 1. The results were a
<a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
mixed bag
</a>
: Revenue beat expectations on surging iPhone and Mac sales, but supply constraints and weakness in China and in its services business dampened Cook’s going-away party. Ultimately, investors didn’t love what they heard, as the stock fell in after-hours trading. The report puts a dent in what had been a major hot streak for the iPhone maker, whose stock reached a record high earlier this week in part because investors appreciated that it wasn’t spending as much on AI as rivals were.
</p>
<p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
☁️
<strong style="color:#000;font-weight:bold">
Sunny skies for Amazon’s cloud unit.
</strong>
Like Apple, Amazon reported quarterly earnings yesterday. Unlike with Apple, investors were deeply pleased with Amazon’s showing. The company’s stock jumped 9% in after-hours trading after it said that sales of its cloud computing unit, Amazon Web Services, grew the fastest since Q4 of 2021. The growth was so impressive that investors didn’t seem to mind that Amazon also hiked its AI spending projection for 2026 from $200 billion to $220 billion—an act that has recently spooked investors, who are worried that tech companies are splurging too much on data centers without enough return on that investment. But for one quarter, at least, Amazon’s revenue wins kept investors cheery.
</p>
<p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
⚽
<strong style="color:#000;font-weight:bold">
UEFA nations are boycotting FIFA over its private investment plan.
</strong>
European countries are doing what Italy has unintentionally done since 2014: boycotting the World Cup. The governing body, which organizes soccer throughout Europe,
<a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
announced
</a>
that its 55 member nations will not participate in FIFA competitions—including the 2030 World Cup—unless FIFA abandons its plan to sell equity in the tournament to private investors. The soccer world plunged into turmoil earlier this week when FIFA President Gianni Infantino revealed the arrangement, which involves Josh Kushner, the brother of President Trump’s son-in-law, Jared Kushner. According to the Associated Press, Infantino’s controversial plan could threaten his 11-year presidency of FIFA.
<em>
—AE
</em>
</p>
</td>
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</table>
</td>
</tr>
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<tbody>
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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">
SANDWICH PICK
</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">
Jersey Mike’s gets that bread from its IPO
</p>
</a>
<a style="border:none;text-decoration:none" target="blank">
<img alt="Jersey Mike's sign" 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%252F2026-04-20%252Fimage-f50207870e59d3023a0b57b775fb62bf21c87ed0-4368x2912-jpg%252FGettyImages-2245869259.jpg/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZtb3JuaW5nYnJldyIsInRpbWUiOjE3ODU0OTA0NDUuMTg4MjE0OH0:1wpjcz:2tBaHQkA0Vls1VzCxgK405de4zvLPvIK272DXuvZibE" style="padding-top:15px;width:100%;max-width:670px;display:block" width="670"/>
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<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 Carter/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">
Jersey Mike’s
<a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
debuted
</a>
on the New York Stock Exchange yesterday, the culmination of a relatively quick turnaround from its sale to private equity firm Blackstone last year.
</p>
<p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
The purveyors of the Big Kahuna Cheese Steak priced its IPO at $23 per share to raise ~$1 billion, making it the largest IPO in the restaurant sector since Krispy Kreme raised $500 million with its 2021 IPO. The newly dubbed JMKE opened lower, at $21, and closed the day down ~6% from its IPO price.
</p>
<p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
<strong style="color:#000;font-weight:bold">
Fast food:
</strong>
PE companies tend to hold for years, but Blackstone fast-tracked the sandwich chain for public trading in 18 months. Blackstone moved so quickly because of Jersey Mike’s rapid growth in recent years and the public’s current voracious appetite for IPOs:
</p>
<ul style="color:#333;margin-top:0;padding-left:30px">
<li style="color:#333;line-height:22px;margin-bottom:10px">
Since 2019, Jersey Mike’s has tripled sales while smoking rival Subway. Per the Wall Street Journal, the average Jersey Mike’s location made $1.36 million in
<a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
sales
</a>
last year while Subway averaged $510,000 (although Subway has many more locations).
</li>
<li style="color:#333;line-height:22px;margin-bottom:10px">
This year is shaping up to be a record one for IPOs—there has been $146.1 billion of common stock offered in the first six months of 2026 (more than half from SpaceX), which is already more than the combined totals between 2022 and 2025.
</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">
Up next:
</strong>
Inspire Brands, the owner of chains that include Arby’s, Buffalo Wild Wings, and Dunkin’, could be the next restaurant operator to go public. It filed confidentially for an IPO in May with the intent to raise $2 billion, per Bloomberg.
<em>
—DL
</em>
</p>
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reader poll
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<div style="margin-bottom:5px">
<p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
What is your favorite sandwich chain?
</p>
</div>
<a class="link" rel="noopener noreferrer" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2" target="_blank">
Subway
<br/>
</a>
<a class="link" rel="noopener noreferrer" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2" target="_blank">
Jersey Mike's
<br/>
</a>
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Jimmy John's
<br/>
</a>
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Potbelly
<br/>
</a>
<a class="link" rel="noopener noreferrer" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2" target="_blank">
Quiznos
<br/>
</a>
<a class="link" rel="noopener noreferrer" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2" target="_blank">
Firehouse Subs
<br/>
</a>
<a class="link" rel="noopener noreferrer" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2" target="_blank">
Other
<br/>
</a>
</div>
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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 Verily Me
</p>
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<img alt="Sponsor: Verily Me" 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%252F2026-07-22%252Fimage-c4e25d2f3b5bc84cfc51f354b45194fc9ee63ce0-1920x1280-jpg%252FAtwave_VerilyMe_1920x1280_v3.jpg/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZtb3JuaW5nYnJldyIsInRpbWUiOjE3ODU0OTA0NDUuMTg4Njc2NH0:1wpjcz:iSiYr2avhk2U6YbyujohS4HIt9SvdIPHZLNzfIGR6EM" 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">
Your health in your hands.
</strong>
Across multiple providers and systems, Verily Me brings your medical records together in one place to give you a holistic view of your health.
<a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
Get personalized guidance
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from caring clinicians, access your health records conveniently, and more. Care that’s yours—truly.
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Start here
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.
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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">
WE’RE HAVING A FIRE...SALE
</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">
Life came at this AI whiz kid fast
</p>
</a>
<a style="border:none;text-decoration:none" target="blank">
<img alt="Leopold Aschenbrenner" 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-0bc514dc55fc450464d672c4303c549e570b5d04-1500x999-jpg%252FMBD-LeopoldAschenbrenner-0726.jpg/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZtb3JuaW5nYnJldyIsInRpbWUiOjE3ODU0OTA0NDUuMTg4NzkyMn0:1wpjcz:YuSoPBHV38xtGR9RbIfi3RL1f5SZLlN1lfVEk-I5m2o" 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>
Situational Awareness
</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">
It’s times like these when it’s very important to have a company name that doesn’t dunk on itself if something goes wrong. AI hedge fund Situational Awareness put out an emergency call to
<a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
unload
</a>
more than $10 billion from its public portfolio this week after absorbing massive losses. Billionaire Ken Griffin’s fund Citadel promised to buy a majority of the stock at a heavy discount yesterday.
</p>
<p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
Situational Awareness was founded two years ago by 25-year-old Leopold Aschenbrenner, a former OpenAI staffer who wrote the popular essay “Situational Awareness” in 2024 about how he expected AI to change everything. The fund invested huge amounts of leveraged cash in the software and hardware companies that it believed the AI revolution would depend on:
</p>
<ul style="color:#333;margin-top:0;padding-left:30px">
<li style="color:#333;line-height:22px;margin-bottom:10px">
The hedge fund grew its portfolio to $45 billion in early July.
</li>
<li style="color:#333;line-height:22px;margin-bottom:10px">
But recent
<a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
investor jitters
</a>
about the sustainability of the industry have cratered many of the fund’s biggest holdings, like Nebius, Micron, and Sandisk. (All three rebounded yesterday, but Aschenbrenner had already sold them 🫠.)
</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">
Looking ahead…
</strong>
Per some reports, Situational Awareness was also floating the sale of its stake in Anthropic, but the fund
<a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
denied
</a>
that. With the cash influx from Citadel, it’s possible that the fund is simply trying to keep its head above water until Anthropic’s expected IPO later this year. But the rest of Wall Street is on edge because large hedge funds crashing out have been early signs of crises.—
<em>
MM
</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">
Dave’s sports desk
</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">
Jersey patches are coming for your college teams
</p>
<img alt="Notre Dame football player wearing jersey with SoFi patch on left, OSU football jersey with Chase patch on 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%252F2026-07-30%252Fimage-66d4fc4e33019a886cb3116a9611785a6be7b310-1500x1000-jpg%252FMBD-NDOSUJerseyPatches-0726.jpg/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZtb3JuaW5nYnJldyIsInRpbWUiOjE3ODU0OTA0NDUuMTg5MzQ4NX0:1wpjcz:tclahsk_a7a4geQ7Ocsn_z1-Om4MBt2t75GUmNZp3gs" 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>
SoFi, Chase
</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 Fridays, the Brew’s Dave Lozo looks at a sports business story that says a lot more than just the final score of a game.
</em>
</p>
<p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
This week, Ohio State and Notre Dame agreed to massive
<a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
multi-year deals
</a>
to place corporate logos on their sports jerseys as soon as tomorrow:
</p>
<ul style="color:#333;margin-top:0;padding-left:30px">
<li style="color:#333;line-height:22px;margin-bottom:10px">
Ohio State will receive a reported $17 million per year from JPMorgan Chase to wear the Chase bank logo on all of the school’s jerseys.
</li>
<li style="color:#333;line-height:22px;margin-bottom:10px">
Notre Dame is partnering with SoFi on a patch deal reportedly worth between $18 million and $20 million annually.
</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">
This new avenue for name, image, and likeness (NIL) revenue
</strong>
is a result of the NCAA granting schools
<a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
permission
</a>
to sell up to two logos on apparel during the regular season and an additional logo for conference championships.
</p>
<p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
<strong style="color:#000;font-weight:bold">
Other schools that will be donning brand logos
</strong>
when college football season starts next month
<a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
include
</a>
Arkansas (Tyson Foods), Wisconsin (Culver’s), and LSU (Woodside Energy).
</p>
<p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
<strong style="color:#000;font-weight:bold">
More to come:
</strong>
Penn State could be the next major university to form a brand partnership, with Pennsylvania-based Utz and Hershey among the
<a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
predictions
</a>
from the school’s student newspaper.
<em>
—DL
</em>
</p>
</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">
Sponsored By Smartsheet
</p>
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</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">
Stop manually updating your AI.
</strong>
Smartsheet connects your AI *directly* to live project data so you can check in on overdue tasks, risks, or timelines.
<a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
Get an answer ASAP
</a>
and even let your AI assistant take action directly in your project data.
<a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
Ditch the manual grind
</a>
between AI and your work.
</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">
Quiz
</p>
<a style="color:#000;text-decoration:none" target="blank">
<p style="padding-top:0;font-size:24px;font-weight:700;line-height:26px;margin:8px 0 0 0;padding:0 15px">
Friday news quiz
</p>
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</a>
</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 feeling of getting a 5/5 on the Brew’s Weekly News Quiz has been compared to pressure washing a garbage can. (Don’t knock it ‘til you’ve tried it.)
</p>
<p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
It’s that satisfying.
<a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
Ace the quiz
</a>
.
</p>
</td>
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<tbody>
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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">
The Iran war
</a>
seemingly expanded to Egypt after the country’s officials said that two tankers at its port in the Mediterranean were hit by drones yesterday. No one has claimed responsibility for the attack, which comes as Iran and its Houthi allies in Yemen widen strikes across the Middle East.
</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">
President Trump
</a>
said he may pull Todd Blanche’s nomination to be attorney general until two Senate Republican holdouts, John Cornyn and Thom Tillis, leave office in January.
</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">
Atherton
</a>
, an enclave in Silicon Valley home to tech billionaires, surpassed Miami’s Fisher Island to become the most expensive zip code in the US, Bloomberg reported.
</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">
<em>
The Walking Dead
</em>
</a>
and its multiple spinoffs will stream on Netflix in addition to AMC+ starting in 2027, as part of a $500 million deal between AMC Global Media and the streaming giant.
</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">
The New York Mets
</a>
became the first MLB team to sign a deal with a prediction market yesterday—the only time they will come in first in anything this season.
</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>
launched a running mode that can match songs to your tempo, duration, and, we assume, how quickly you upload the route to Strava for kudos.
</li>
</ul>
</td>
</tr>
</tbody>
</table>
</td>
</tr>
</tbody>
</table>
</td>
</tr>
</tbody>
</table>
</div>
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<table cellpadding="0" cellspacing="0" role="presentation" style="width:100%;border-collapse:collapse">
<tbody>
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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>
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</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">
<a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
Maps
</a>
of the real locations in famous novels.
</li>
<li style="color:#333;line-height:22px;margin-bottom:10px">
The 25
<a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
best documentaries
</a>
of all time.
</li>
<li style="color:#333;line-height:22px;margin-bottom:10px">
How to eat and drink to
<a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
minimize jet lag
</a>
on your next trip.
</li>
<li style="color:#333;line-height:22px;margin-bottom:10px">
Perhaps the most nostalgic
<a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
Lego set
</a>
we’ve seen.**
</li>
</ul>
<div>
<ul style="color:#333;margin-top:0;padding-left:30px">
<li style="color:#333;line-height:22px;margin-bottom:10px">
Fragrance is the fastest way to elevate your space. Aura House’s
<a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
cold-air diffusion
</a>
wraps every room in a signature scent.
<a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
Use code BREW10 for 10% off
</a>
.*
</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>
</td>
</tr>
</tbody>
</table>
</td>
</tr>
</tbody>
</table>
</div>
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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">
<table cellpadding="0" cellspacing="0" role="presentation" style="width:100%;border-collapse:collapse">
<tbody>
<tr>
<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=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZtb3JuaW5nYnJldyIsInRpbWUiOjE3ODU0OTA0NDUuMTg5ODYzNH0:1wpjcz:RLHAhaOeuXeZnKbdlXhiRz9DPireYsWrM6htNm9bou0" style="padding-top:15px;width:100%;max-width:670px;display:block" width="670"/>
</a>
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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">
Decipher:
</strong>
In this edition of our code-cracking puzzle, you have to decipher a quote from a famous athlete.
<a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
Play Decipher 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">
Friday trivia
</h2>
<p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
“baggage” and “PARADROP” are the longest lowercase/uppercase words with what specific trait?
</p>
</td>
</tr>
</tbody>
</table>
</td>
</tr>
</tbody>
</table>
</td>
</tr>
</tbody>
</table>
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<table cellpadding="0" cellspacing="0" role="presentation" style="width:100%;border-collapse:collapse">
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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">
Share the Brew
</p>
<div style="color:#333;padding:15px">
<a>
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Share the Brew, watch your referral count climb, and unlock brag-worthy swag.
</p>
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</p>
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<b>
Your referral count:
</b>
0
</p>
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Click to Share
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Or copy & 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>
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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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<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">
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">
“baggage” is the longest possible lowercase word where each letter has a hole in it. “PARADROP” is the longest uppercase word where each letter has a hole in it.
</p>
<p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
Source:
<a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
Adam Aaronson
</a>
via
<a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
Puzzle a Day
</a>
</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: paradrop, meaning “the delivery of personnel or supplies from an aircraft via parachute.” You were wondering what that meant after reading today’s puzzle, weren’t you? Thanks to Carson from San Antonio 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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<p style="margin-top:0;margin-bottom:15px;font-size:10px;line-height:10px">
<strong style="color:#000">
✳︎
<!-- -->
A Note From
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Verily Me
</strong>
</p>
<p style="font-size:10px;line-height:22px;color:#333;margin-top:0;margin-bottom:15px">
Verily Me features may change over time. Verily Me retrieves information from health information exchanges and other connected sources. The records available may not be complete, up to date, or include all of your health information. Not all pharmacies, providers, or health systems share data with these exchanges. Always confirm your current medications, doses, and health details with your prescribing clinician or pharmacist. Violet uses generative AI to create her responses. She’s not a human, not a doctor, and she can make mistakes. Violet can give you information about your health record, but she can’t give you treatment advice or a diagnosis. Please talk to a healthcare provider if you need help.
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Verily Me is not a medical device and has not been evaluated by the FDA. Consult with a qualified healthcare professional before making any decision related to your health or treatment.
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Sam Klebanov
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Dave Lozo
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,
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and
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Copyright ©
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2026
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Morning Brew Inc. All rights reserved.
<br/>
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