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          Anthropic could IPO at record $2t valuation...
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                    August 14, 2026
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                     Presented By
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                     <strong style="color:#000;font-weight:bold">
                      Happy Friday.
                     </strong>
                     The New York Times charted the
                     <a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
                      most popular emoji
                     </a>
                     in the world, and the results suggest people are...crying a lot. These were the three most popular last year:
                    </p>
                    <ol>
                     <li>
                      😭
                     </li>
                     <li>
                      🤣
                     </li>
                     <li>
                      😂
                     </li>
                    </ol>
                    <p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
                     Some of the fastest-rising ones included 🥀 (big on TikTok to signify heartbreak) and 🗿 (the youngs commonly use this as a deadpan reaction).
                    </p>
                    <p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
                     The “hot beverage” emoji came in a lowly 213th place, but it’s No. 1 in our hearts.
                    </p>
                    <p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
                     <em>
                      —Sam Klebanov, Matty Merritt, Molly Liebergall, Adam Epstein, Holly Van Leuven, Neal Freyman
                     </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">
                      Anthropic’s potential $2 trillion IPO valuation
                     </li>
                     <li style="color:#333;line-height:22px;margin-bottom:10px">
                      The companies getting huge tariff refunds
                     </li>
                     <li style="color:#333;line-height:22px;margin-bottom:10px">
                      Gen Zers redirecting funds from stocks to sports bets
                     </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>
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                       <td class="pad5m">
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                           <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=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZjZG4uc2FuaXR5LiIsInRpbWUiOjE3ODY2OTkxMzIuNDA2MzMwOH0:1wuo3w:So3-WVsEzV7MsqAQeY0utPfn4-Dnpl9Pr5LakK0pOoE" 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">
                                 26,803.03
                                </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">
                                     +0.81%
                                    </p>
                                   </td>
                                  </tr>
                                 </tbody>
                                </table>
                               </td>
                              </tr>
                             </tbody>
                            </table>
                           </td>
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                           <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=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZjZG4uc2FuaXR5LiIsInRpbWUiOjE3ODY2OTkxMzIuNDA2NDI5M30:1wuo3w:BY3n4fvjLbdBePc4p5acCvq4I1LJWrtW7BLoq2D44Ck" 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">
                                 7,798.99
                                </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">
                                     +0.65%
                                    </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=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZjZG4uc2FuaXR5LiIsInRpbWUiOjE3ODY2OTkxMzIuNDA2NTI3M30:1wuo3w:IlOfzhzd6BocIIhItGb-1Y_rlKqdTGTIqljLLMUkaaM" 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">
                                 53,839.99
                                </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">
                                     +0.13%
                                    </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=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZjZG4uc2FuaXR5LiIsInRpbWUiOjE3ODY2OTkxMzIuNDA2NjI1M30:1wuo3w:RDrR5ZZLU6BV0NnAkgnpWm4yjxJbq-hQCzTNAUXjo4g" 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">
                                 4.641%
                                </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">
                                     -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%252Fe4a85d043f857cc8adaca9d546c099f6d7db37ba-44x39.png/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZjZG4uc2FuaXR5LiIsInRpbWUiOjE3ODY2OTkxMzIuNDA2NzI2NH0:1wuo3w:JeSmRdfPPNwKNxpWnegFKkqbH4khZQG1wXC0XqMkpBI" 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">
                                 $63,378.09
                                </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">
                                     -0.25%
                                    </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=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZjZG4uc2FuaXR5LiIsInRpbWUiOjE3ODY2OTkxMzIuNDA2ODIyfQ:1wuo3w:CAA-Uozlukx71av_MUXnrbd5vtF-sSQi0r_RbNEFsOo" 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">
                                 Netflix
                                </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">
                                 $78.24
                                </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">
                                     +5.43%
                                    </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=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZjZG4uc2FuaXR5LiIsInRpbWUiOjE3ODY2OTkxMzIuNDA2OTI2NH0:1wuo3w:OeuD0OoxIdGHhEFPcFnuXQbklRKIoSPCqdDcPqFwuDY" 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>
                          Stocks went Jeffersons mode and
                          <a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
                           moved on up
                          </a>
                          yesterday, notching a record high for the S&amp;P 500 as investors digested the latest inflation data. Meanwhile, Netflix jumped after billionaire Bill Ackman revealed a new stake in the streaming giant.
                         </li>
                        </ul>
                       </td>
                      </tr>
                      <tr>
                       <td style="padding:0 20px;mso-padding-alt:0 20px 15px 20px">
                       </td>
                      </tr>
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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">
                         OH MY CLAUDE
                        </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">
                          Report: Anthropic could IPO at record $2t valuation
                         </p>
                        </a>
                        <a style="border:none;text-decoration:none" target="blank">
                         <img alt="Phot of the Anthropic logo on a dark window - it is angled slightly, as if the viewer is looking up at 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%252F2026-08-13%252Fimage-4bdf9f485af8dc70b76087b70697274cedaacaa7-1500x1000-jpg%252FMBD_AnthropicIPO_SM_08132026.jpg/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZtb3JuaW5nYnJldyIsInRpbWUiOjE3ODY2OTkxMzIuNDA3MDQyNX0:1wuo3w:Xr0OjbpvDsE0oKzg1xURuK8o_Gc_wfyCxDKaSR8UnZ0" 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>
                            Adobe Stock
                           </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">
                         Chatting with Claude may be more thrilling than watching a SpaceX rocket blast off…at least for Wall Street. Anthropic investors
                         <a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
                          expect
                         </a>
                         the AI giant to hit a valuation of $2 trillion or more during its public debut planned for the fall—which would surpass SpaceX’s recent $1.77 trillion IPO to become the biggest in history, the Financial Times reported yesterday.
                        </p>
                        <h2 style="font-size:19px;color:#000;font-weight:700;margin-top:0;margin-bottom:15px;margin-right:0;margin-left:0">
                         Is $3 trillion next?
                        </h2>
                        <p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
                         Anthropic backers think that the company’s soaring sales justify the steep number, which is double its current ~$1 trillion valuation:
                        </p>
                        <ul style="color:#333;margin-top:0;padding-left:30px">
                         <li style="color:#333;line-height:22px;margin-bottom:10px">
                          They project Anthropic’s sales by the end of 2026 will put it on track for as much as $120 billion in annual revenue—10x what it was at the start of the year.
                         </li>
                         <li style="color:#333;line-height:22px;margin-bottom:10px">
                          Some investors say such explosive growth would justify valuing the company at $3 trillion, or 30x its annual revenue. FT notes that other AI superstars like Palantir and Nebius are trading at 55 times their annual revenue.
                         </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">
                          But there’s some reason for caution.
                         </strong>
                         Despite Anthropic’s top models outperforming products from rivals OpenAI and Alphabet, they’re vulnerable to businesses scaling back their AI use due to the hefty price tag. Its top model, Fable, is 2.5x more expensive than a comparable tool from OpenAI.
                        </p>
                        <p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
                         Things are also tense with Uncle Sam: Anthropic is fighting the federal government in court over the Pentagon designating its products a supply chain risk. The Trump administration also temporarily placed export controls on the company’s most powerful models in June, alarming some customers and slowing revenue 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">
                          Meanwhile, Anthropic is doing its own pre-IPO shopping:
                         </strong>
                         It’s reportedly discussing a $6 billion deal to buy the AI software startup Decart. Decart’s know-how could help Anthropic slash the cost of training its models and enable it to design its own chips, putting it in competition with Nvidia.
                         <em>
                          —SK
                         </em>
                        </p>
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                         Sponsored By Aura House
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                         <p style="font-size:24px;font-weight:700;line-height:26px;margin:8px 0 0 0;padding:0 15px">
                          <strong style="font-weight:bold">
                           That certain je ne scent quoi
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                         <img alt="Sponsor: Aura House" 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%252F2026-08-12%252Fimage-f142eefa121a2452f06c76d8331ae10b6abfa32c-1000x750-png%252FAuraHouse1000x7501.png/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZtb3JuaW5nYnJldyIsInRpbWUiOjE3ODY2OTkxMzIuNDA3NDQ3Nn0:1wuo3w:2KtNOT-skzYU-q3PmP5HJJkrj1TRvwiqh9AuprDTTuA" 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">
                         The way your home smells is just as important as it looks. So don’t throw off your feng shui with something that smells fun-kay.
                        </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">
                         Aura House is a
                         <a class="link" style="color:#000;text-decoration:none;border-bottom:2px solid #6B7885">
                          cold-air diffuser
                         </a>
                         that helps make your house smell like a resort hotel by releasing one of five clean, relaxing fragrances. There’s no heat, flame, or water, and it’s safe for pets and plants.
                        </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:#000;text-decoration:none;border-bottom:2px solid #6B7885">
                          Each bottle lasts 30 days
                         </a>
                         . A single oil can outlast an entire candle collection and deliver consistent whole-room coverage the entire time. Plus, there are no parabens, phthalates, or hidden chemicals, so it’s Sephora-clean certified.
                        </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:#000;text-decoration:none;border-bottom:2px solid #6B7885">
                          Use code BREW10 for 10% off
                         </a>
                         . Fair warning: People may start asking if you can host dinners.
                        </p>
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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="Stop walking hand traffic signal in foreground, Harvard University crest seen in background" 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%252F2026-08-13%252Fimage-b6754542953398223ac590995dc2e6100abefd3f-3000x2000-jpg%252FGettyImages-2281272342.jpg/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZtb3JuaW5nYnJldyIsInRpbWUiOjE3ODY2OTkxMzIuNDA3NTU5Mn0:1wuo3w:MAP0hcEOXd0-6XWpcc42oo1AhmBH0NayDG8uUKNsQ8Y" 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">
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                            Christian Kantosky/Getty Images
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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">
                          A judge dismissed the Trump admin’s antisemitism case against Harvard.
                         </strong>
                         A federal judge in Boston
                         <a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
                          threw out
                         </a>
                         the Trump administration’s case against Harvard, saying that it failed to prove that the Ivy League institution was ignoring mistreatment of Jewish students. Incidents of antisemitism at the university were “too isolated and episodic” to suggest civil rights violations, the judge said. The federal government had alleged that Harvard did nothing to protect Jewish students during pro-Palestinian protests that followed Hamas’s Oct. 7, 2023, attacks on Israel. The lawsuit was part of a larger pressure campaign by the White House—including attempts to cut Harvard’s funding and stop it from enrolling international students—that was designed to reshape the school.
                         <em>
                          —AE
                         </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">
                          Flock is adding new guardrails following backlash.
                         </strong>
                         Flock Safety, the AI surveillance camera company that’s come under fire in recent days due to abuse by law enforcement, announced yesterday that it’s introducing several
                         <a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
                          safeguards
                         </a>
                         to address privacy concerns. The company said it will shorten the time it stores data from one month to one week, and will also deploy a system that locks out users with “abnormal” search activity. Police forces have championed the technology for helping to fight crime by tracking and storing license plate information, but many citizens and lawmakers across the aisle have accused police of illegally misusing the data Flock provides.
                         <em>
                          —AE
                         </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">
                          🇺🇸 The US military will replace USS Abe Lincoln amid reported mental health crisis, WSJ says.
                         </strong>
                         In an exclusive, the Wall Street Journal reported that the USS George Washington will replace
                         <a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
                          the USS Abraham Lincoln
                         </a>
                         , which has been deployed for more than 250 days. The development comes after two military newspapers, Stars and Stripes and the Navy Times, reported multiple attempts by sailors to jump overboard amid harsh conditions and significant stressors related to the Iran war. The aircraft carrier has not made a port call in over 200 days, according to reports, a record for modern times.—
                         <em>
                          HVL
                         </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 16px 0px 16px;color:#222">
                         Sponsored By BluSky AI
                        </p>
                        <a style="border:none;text-decoration:none" target="blank">
                         <img alt="Sponsor: BluSky AI" 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%252F2026-08-13%252Fimage-f799b233e69db6da9c2221d47a9bdf42c2674d87-1200x800-png%252F15_BluSkyAI_Newsletter_081326_005.png/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZtb3JuaW5nYnJldyIsInRpbWUiOjE3ODY2OTkxMzIuNDA3NjczfQ:1wuo3w:IFGkKnqc6iX-aUz6-1pFe1iqnV8vUh5dlpNfLGj2OQg" 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">
                          “If you bet against the data center, you got trampled,”
                         </strong>
                         one of Wall Street’s most-followed voices said Wednesday. BluSky AI is substantially positioned to capture this booming market with
                         <a class="link" style="color:#000;text-decoration:none;border-bottom:2px solid #6B7885">
                          prefab AI solution centers
                         </a>
                         that deploy in months, are 300x smaller, and use less water and power than competitors. Public shares recently closed as high as $7.
                         <a class="link" style="color:#000;text-decoration:none;border-bottom:2px solid #6B7885">
                          Invest directly at $5 through Aug. 20
                         </a>
                         .
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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">
                         that was fast
                        </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">
                          Companies are getting their tariff money back
                         </p>
                        </a>
                        <a style="border:none;text-decoration:none" target="blank">
                         <img alt="Collage showing three photos of company signage in black and white, with Ford on the left, Apple in the middle, and Nike on the right, all on a background of vibrant neon green money." 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%252F2026-08-13%252Fimage-25d0642cf45cf86b91f4942d957fb489c4ce65b4-1500x1000-jpg%252FMBD_TariffRefunds_SM_08132026.jpg/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZtb3JuaW5nYnJldyIsInRpbWUiOjE3ODY2OTkxMzIuNDA3Nzg3OH0:1wuo3w:OiAkZJxvmZ0YActdg5iXOrnLrgAJ7OzNZMqcOA3AM2I" 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>
                            Illustration: Morning Brew Inc., Photos: Adobe Stock
                           </em>
                          </small>
                         </span>
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                        <p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
                         Much like when you forget about your Venmo balance for a few months to trick yourself into feeling flush, corporations are reveling in speedy
                         <a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
                          tariff refunds
                         </a>
                         to pad their quarterly earnings.
                        </p>
                        <p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
                         <strong style="color:#000;font-weight:bold">
                          ICYMI:
                         </strong>
                         The Supreme Court struck down President Trump’s sweeping tariffs on almost every US trading partner in February, and since then, importers have been clamoring to get their cash back. Of the $166 billion in tariffs SCOTUS nixed, $129 billion in refunds had been approved as of the end of July.
                        </p>
                        <p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
                         <strong style="color:#000;font-weight:bold">
                          So, what companies got the biggest checks?
                         </strong>
                         Over 40 members of the S&amp;P 500 reported a combined $9.6 billion in refunds last quarter:
                        </p>
                        <ul style="color:#333;margin-top:0;padding-left:30px">
                         <li style="color:#333;line-height:22px;margin-bottom:10px">
                          Apple leads the pack at $2.2 billion in refunds. The tech giant said the payout contributed about 5% of Q2’s per-share earnings, boosting it by about 11 cents.
                         </li>
                         <li style="color:#333;line-height:22px;margin-bottom:10px">
                          Ford was refunded $1.3 billion.
                         </li>
                         <li style="color:#333;line-height:22px;margin-bottom:10px">
                          Nike received $986 million, FedEx got $800 million, and Amazon collected $640 million.
                         </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">
                          But you probably won’t get
                          <em>
                           your
                          </em>
                          money back.
                         </strong>
                         Some companies have promised to pass the funds on via lower prices, but they won’t be sending you cash. Plus, it’s difficult to prove which price hikes were due to tariffs rather than other market factors. However, shippers like FedEx, UPS, and DHL will be offering
                         <a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
                          direct refunds
                         </a>
                         to some customers because they can track individual imports that had tariffs slapped on them.—
                         <em>
                          MM
                         </em>
                        </p>
                        <div style="padding-top:12px">
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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">
                         WOULD YOU LIKE FRIES WITH THAT?
                        </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">
                          McDonald’s might have a huge dossier on you
                         </p>
                        </a>
                        <a style="border:none;text-decoration:none" target="blank">
                         <img alt="Graphic illustration of the McDonald's arch logo, but it's composed of hundreds of tiny sheets of paper, on an intimidating glitchy background in shades of red." 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%252F2026-08-13%252Fimage-da09ba76ce85f0af07a03e1629c7001fa0d4fceb-3000x2000-png%252FMBD_20260813_MCDPAPER_NI_01.png/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZtb3JuaW5nYnJldyIsInRpbWUiOjE3ODY2OTkxMzIuNDA4MjAwNX0:1wuo3w:VyOIQ1fzmQ_PRuHh5pmZ0eT5EpJ-2JSO-tyJpPIt52A" 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>
                            Nick Iluzada
                           </em>
                          </small>
                         </span>
                        </p>
                       </td>
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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">
                         Ba-da-ba-ba-ba: Release the files—the McDonald’s loyalty program files. After
                         <a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
                          requesting
                         </a>
                         a copy of his data from the burger chain, a Wired journalist received a 515-page file on his McDonald’s habits that was far more detailed than expected, he
                         <a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
                          wrote
                         </a>
                         this week.
                        </p>
                        <p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
                         According to Wired’s Reece Rogers:
                        </p>
                        <ul style="color:#333;margin-top:0;padding-left:30px">
                         <li style="color:#333;line-height:22px;margin-bottom:10px">
                          The McDonald’s loyalty program tracks purchase behavior, like favorite menu items and most-visited locations, which is apparently fairly standard.
                         </li>
                         <li style="color:#333;line-height:22px;margin-bottom:10px">
                          The “concerning” part was how McDonald’s used this data to predict how often he’d visit in the future, what he’d spend, what he’d order, and the likelihood that he’d stop being a customer (0%).
                         </li>
                        </ul>
                        <p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
                         “We use information such as past purchases to provide a more engaging, personal customer experience,” a McDonald’s spokesperson told Wired. The loyalty program’s 210 million active users are also the “single most important digital metric” for McDonald’s, its CFO
                         <a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
                          said
                         </a>
                         earlier this year.
                        </p>
                        <p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
                         <strong style="color:#000;font-weight:bold">
                          Zoom out:
                         </strong>
                         The average US consumer
                         <a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
                          belongs
                         </a>
                         to more than 15 loyalty programs as of 2024, per BCG, and some may be exploiting your data (in addition to selling it). A Washington Post columnist recently
                         <a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
                          discovered
                         </a>
                         that Starbucks’s loyalty program may have given him fewer discounts because it determined that he was willing to pay full prices. Consumer Reports
                         <a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
                          alleged
                         </a>
                         similar schemes within Kroger’s loyalty program.
                         <em>
                          —ML
                         </em>
                        </p>
                        <div style="padding-top:12px">
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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">
                         Gen Z is moving money from stocks to sports bets
                        </p>
                        <img alt="sports betting" 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%252F2025-11-17%252Fimage-6f5a202f3632ccf9c567de5dfed279ad181f6c72-6720x4480-jpg%252FMaturemanusingmobileappforlivebetting/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZtb3JuaW5nYnJldyIsInRpbWUiOjE3ODY2OTkxMzIuNDA4NjcxNH0:1wuo3w:Bty5iAJbrTa0QqG7ZHoLQbGMHxH2HrGolX6MsX43WHs" 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>
                            Getty Images
                           </em>
                          </small>
                         </span>
                        </p>
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                        <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">
                         Hey, sports fans, this is Adam filling in for Dave this week. For some people, their relationship to sports betting is restricted to losing $10 on their office’s March Madness pool every year. But, for many Gen Zers, it’s increasingly a major part of their financial planning.
                        </p>
                        <p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
                         Per a
                         <a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
                          survey
                         </a>
                         from the wealth management platform Betterment:
                        </p>
                        <ul style="color:#333;margin-top:0;padding-left:30px">
                         <li style="color:#333;line-height:22px;margin-bottom:10px">
                          Twenty-six percent of Gen Zers “treat sports betting as a deliberate part of long-term financial strategy,” compared with 14% of millennials and 12% of the general population.
                         </li>
                         <li style="color:#333;line-height:22px;margin-bottom:10px">
                          More than half (52%) of Gen Zers said they have rerouted funds from investments to sports betting in the last year, vs. 24% of all Americans.
                         </li>
                        </ul>
                        <p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
                         The rapid legalization of betting apps and prediction markets means it’s never been easier to bet your paycheck on the Jets winning fewer than 5.5 games this season. Meanwhile, some young people believe that the stock market is rigged, even though funds that track the S&amp;P 500 historically yield positive returns.
                        </p>
                        <p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
                         “When a prediction market or sportsbook starts to feel like a retirement strategy, we have a problem,” Betterment CEO Sarah Levy told Bloomberg.
                         <em>
                          —AE
                         </em>
                        </p>
                       </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>
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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">
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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">
                         Reader Poll
                        </p>
                       </td>
                      </tr>
                      <tr>
                       <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">
                           Do you consider sports betting to be part of your long-term financial strategy?
                          </p>
                         </div>
                         <a class="link" rel="noopener noreferrer" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2" target="_blank">
                          Yes.
                          <br/>
                         </a>
                         <a class="link" rel="noopener noreferrer" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2" target="_blank">
                          No.
                          <br/>
                         </a>
                         <a class="link" rel="noopener noreferrer" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2" target="_blank">
                          Maybe if I were better at it.
                          <br/>
                         </a>
                        </div>
                       </td>
                      </tr>
                     </tbody>
                    </table>
                   </td>
                  </tr>
                 </tbody>
                </table>
               </td>
              </tr>
             </tbody>
            </table>
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                 <tbody>
                  <tr>
                   <td style="display:block;background-color:#FAF9F5;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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                        <p style="font-size:16px;font-weight:700;text-transform:uppercase;margin-bottom:0;margin-top:0;padding:15px 16px 0px 16px;color:#222">
                         Sponsored By Aflac
                        </p>
                        <a style="border:none;text-decoration:none" target="blank">
                         <img alt="Sponsor: Aflac" 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%252F2026-04-17%252Fimage-221fe58b53a65d0d3393d64c030586c49acc8a96-1000x750-png%252Fimage.png/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZtb3JuaW5nYnJldyIsInRpbWUiOjE3ODY2OTkxMzIuNDA4ODUxfQ:1wuo3w:V5ehi_maMLuqnZE9WhsfTxp3XIJ721DXMduNwUhNxYM" style="padding-top:15px;width:100%;max-width:670px;display:block" width="670"/>
                        </a>
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                       <td style="padding:15px 16px">
                        <p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
                         <strong style="color:#000;font-weight:bold">
                          Help protect employee finances.
                         </strong>
                         Did you know Aflac is the
                         <a class="link" style="color:#000;text-decoration:none;border-bottom:2px solid #6B7885">
                          No. 1 supplemental health insurance
                         </a>
                         carrier in the US?* It’s for good reason. Aflac is known for helping with expenses not covered by health insurance. Claims payments are fast, accurate, and fair.
                         <a class="link" style="color:#000;text-decoration:none;border-bottom:2px solid #6B7885">
                          Look through their wide portfolio of solutions
                         </a>
                         .
                        </p>
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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">
                    <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">
                         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>
                        </a>
                        <a style="border:none;text-decoration:none" target="blank">
                         <img alt="Friday news quiz banner" 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-7c7a69cfb99fa964a9a37bcb3ccd83ca02c2c054-2700x660-png%252FIMG_9053.png/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZtb3JuaW5nYnJldyIsInRpbWUiOjE3ODY2OTkxMzIuNDA4OTc2M30:1wuo3w:lhTiKR2ABnMxDS_HErmhlvM7p4LEwrhRnvkZh-EmNis" style="padding-top:15px;width:100%;max-width:670px;display:block" width="670"/>
                        </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 cutting the perfect amount of wrapping paper for a present.
                        </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>
                      </tr>
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                    </table>
                   </td>
                  </tr>
                 </tbody>
                </table>
               </td>
              </tr>
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            </table>
           </div>
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            <table cellpadding="0" cellspacing="0" role="presentation" style="border-collapse:collapse" width="100%">
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                 <tbody>
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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">
                         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>
                      </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">
                           The US Court of International Trade
                          </a>
                          upheld President Trump’s closure of the “de minimis loophole,” which had allowed shipments worth $800 or less to be imported to the US tax-free.
                         </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 Trump administration
                          </a>
                          repealed a Biden-era anti-corruption rule that required US companies to report their beneficial ownership information.
                         </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">
                           OpenAI’s chief revenue officer
                          </a>
                          is leaving her role less than a year after joining, the latest shakeup to the company’s executive ranks ahead of its IPO.
                         </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 Ryanair plane
                          </a>
                          from which a man was partially ejected in July experienced a jet engine fan blade failure that led to the incident, according to a preliminary report released yesterday.
                         </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">
                           Instagram
                          </a>
                          updated its wordmark logo, saying its decade-old one “felt dated.”
                         </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">
                           Several breakfast cereals
                          </a>
                          , including Frosted Flakes and Froot Loops, are bringing back physical toys inside boxes in a bid to boost sales.
                         </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">
                           Jayden Daniels
                          </a>
                          , the star quarterback of the Washington Commanders, sent a cease-and-desist letter to his alma mater, LSU, because his former No. 5 jersey was given to another player.
                         </li>
                        </ul>
                       </td>
                      </tr>
                     </tbody>
                    </table>
                   </td>
                  </tr>
                 </tbody>
                </table>
               </td>
              </tr>
             </tbody>
            </table>
           </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">
                    <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="A few good links" 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%252F2026-07-31%252Fimage-e19b6abe749db07c9f28e466f0944c893d8dab84-1350x330-png%252FMB_newsletter_banner-goodlinks2.png/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZtb3JuaW5nYnJldyIsInRpbWUiOjE3ODY2OTkxMzIuNDA5MDg3Mn0:1wuo3w:QZeDSuiWjIZT91dXewHK_6Gqaocwtoyeh4ny4SXhZ_k" 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">
                          An app that simulates
                          <a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
                           how much shade
                          </a>
                          there will be at any time and place.
                         </li>
                         <li style="color:#333;line-height:22px;margin-bottom:10px">
                          The 15 best
                          <a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
                           teen dramas
                          </a>
                          of all time, according to the Hollywood Reporter.
                         </li>
                         <li style="color:#333;line-height:22px;margin-bottom:10px">
                          It’s not too early for a
                          <a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
                           Halloween travel guide
                          </a>
                          .
                         </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">
                           Sneakers
                          </a>
                          that make long walks feel like a quick jaunt.**
                         </li>
                        </ul>
                        <div>
                         <ul style="color:#333;margin-top:0;padding-left:30px">
                          <li style="color:#333;line-height:22px;margin-bottom:10px">
                           Don’t wait for a heat wave to bust your HVAC. American Home Shield can help protect your budget from untimely appliance breakdowns. Plus, new customers can get 30% off for a limited time.
                           <sup style="font-size:smaller;vertical-align:super">
                            1
                           </sup>
                           <a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
                            Sign up now
                           </a>
                           .*
                          </li>
                         </ul>
                        </div>
                        <div>
                         <ul style="color:#333;margin-top:0;padding-left:30px">
                          <li style="color:#333;line-height:22px;margin-bottom:10px">
                           Take flight without fear of additional administrative headaches that come with travel spend.
                           <a class="link" style="color:#333;text-decoration:none;border-bottom:2px solid #1c7ff2">
                            Learn more in our article
                           </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>
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                    </table>
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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">
                         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=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZtb3JuaW5nYnJldyIsInRpbWUiOjE3ODY2OTkxMzIuNDA5MjAxOX0:1wuo3w:YfRE2WdJMRNHiJj_cZZvng_eI4mXe3zbMjTV1ZRA9os" 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">
                          Decipher:
                         </strong>
                         The latest edition of our code-cracking puzzle asks you to unscramble some words of wisdom from a TV show.
                         <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">
                         Here’s a classic riddle: If you have three, you have three. If you have two, you have two. But if you have one, you have none.
                        </p>
                        <p style="color:#333;font-size:16px;line-height:22px;margin-top:0;margin-bottom:15px">
                         What is it?
                        </p>
                       </td>
                      </tr>
                     </tbody>
                    </table>
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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>
                          <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=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZjZG4uc2FuaXR5LiIsInRpbWUiOjE3ODY2OTkxMzIuNDA5MzE3fQ:1wuo3w:SRoybtV4HdJ_YjrbpWifRZFqcp2A2UQCKhwxhWvu4P8" 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
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                         Today’s Word of the Day is: jaunt, meaning “a short fun trip or journey taken for pleasure.” Thanks to Zach from Grand Rapids, MI, for the suggestion. Submit another Word of the Day
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                          Source:
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