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   Daily Brew // Morning Brew // Update
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     The movie industry reacted to President Trump’s proposed levy…
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             May 06, 2025
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               Good morning.
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              Skype has gone on permanent mute. Yesterday, the service that let you videocall anyone in the world for free shut down after an epic 23-year run. Microsoft, which bought Skype for $8.5 billion in 2011, is encouraging users to migrate to Teams instead.
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              Skype, you may have receded into history, but your bloo-bloop ringtone will never be forgotten.
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              —
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               Matty Merritt, Sam Klebanov, Molly Liebergall, Holly Van Leuven, Neal Freyman
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              <h3 style="color:#1c7ff2;margin-top:0;margin-bottom:0;font-family:Helvetica,Arial,sans-serif;font-size:16px;font-weight:700">
               MARKETS
              </h3>
             </td>
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            <tr>
             <td class="pad5m">
             </td>
            </tr>
            <!-- Nasdaq -->
            <tr>
             <td class="pads10 pads6m lastline" style="text-align:center;mso-padding-alt:0 20px 0 20px;border-top:1px solid #e6e6e6;border-bottom:1px solid #e6e6e6;padding-bottom:0">
              <table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse:collapse;border-collapse:collapse" width="100%">
               <tr>
                <td align="center" 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=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZjZG4uc2FuaXR5LiIsInRpbWUiOjE3NDY1MjM2NjUuMTg3Mjc3fQ:1uCEaX:YAuONJa5iy9bdbCSl8Nvv5hfnMWyhnyEDOiQ_yNo1pM" style="width:22%" width="20"/>
                </td>
                <td class="markets-ticker-cell" style="width:34%" valign="middle">
                 <p class="pad0 mar0 markets-table-text" style="white-space:nowrap;vertical-align:middle;text-align:left;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="pad0 mar0 markets-table-text" style="white-space:nowrap;vertical-align:middle;text-align:left;margin:0;padding:0;font-size:16px;font-weight:700;line-height:1em">
                  17,844.24
                 </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;border-collapse:collapse;width:70%;margin:0 auto">
                  <tr>
                   <td style="background-color:#ff03034d;border-radius:8px;padding:10px 8px" valign="middle">
                    <p class="pad0 mar0 markets-table-text" style="white-space:nowrap;vertical-align:middle;text-align:center;margin:0;padding:0;font-size:16px;font-weight:700;line-height:1em">
                     -0.74%
                    </p>
                   </td>
                  </tr>
                 </table>
                </td>
               </tr>
              </table>
             </td>
            </tr>
            <!-- END Nasdaq -->
            <!-- S&P -->
            <tr>
             <td class="pads10 pads6m lastline" style="text-align:center;mso-padding-alt:0 20px 0 20px;border-top:1px solid #e6e6e6;border-bottom:1px solid #e6e6e6;padding-bottom:0">
              <table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse:collapse;border-collapse:collapse" width="100%">
               <tr>
                <td align="center" 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=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZjZG4uc2FuaXR5LiIsInRpbWUiOjE3NDY1MjM2NjUuMTg3MzczOX0:1uCEaX:agCzYj0kJOabgrAPDN2ndiVqLxj2CmqUWNoCHOBQUOs" style="width:22%" width="20"/>
                </td>
                <td class="markets-ticker-cell" style="width:34%" valign="middle">
                 <p class="pad0 mar0 markets-table-text" style="white-space:nowrap;vertical-align:middle;text-align:left;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="pad0 mar0 markets-table-text" style="white-space:nowrap;vertical-align:middle;text-align:left;margin:0;padding:0;font-size:16px;font-weight:700;line-height:1em">
                  5,650.38
                 </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;border-collapse:collapse;width:70%;margin:0 auto">
                  <tr>
                   <td style="background-color:#ff03034d;border-radius:8px;padding:10px 8px" valign="middle">
                    <p class="pad0 mar0 markets-table-text" style="white-space:nowrap;vertical-align:middle;text-align:center;margin:0;padding:0;font-size:16px;font-weight:700;line-height:1em">
                     -0.64%
                    </p>
                   </td>
                  </tr>
                 </table>
                </td>
               </tr>
              </table>
             </td>
            </tr>
            <!-- END S&P -->
            <!-- Dow -->
            <tr>
             <td class="pads10 pads6m lastline" style="text-align:center;mso-padding-alt:0 20px 0 20px;border-top:1px solid #e6e6e6;border-bottom:1px solid #e6e6e6;padding-bottom:0">
              <table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse:collapse;border-collapse:collapse" width="100%">
               <tr>
                <td align="center" 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=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZjZG4uc2FuaXR5LiIsInRpbWUiOjE3NDY1MjM2NjUuMTg3NDY0N30:1uCEaX:rjq7xu2YK1TlCusW4edXSgkkzQN-WZ8eBC0l2Kq-hRM" style="width:22%" width="20"/>
                </td>
                <td class="markets-ticker-cell" style="width:34%" valign="middle">
                 <p class="pad0 mar0 markets-table-text" style="white-space:nowrap;vertical-align:middle;text-align:left;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="pad0 mar0 markets-table-text" style="white-space:nowrap;vertical-align:middle;text-align:left;margin:0;padding:0;font-size:16px;font-weight:700;line-height:1em">
                  41,218.83
                 </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;border-collapse:collapse;width:70%;margin:0 auto">
                  <tr>
                   <td style="background-color:#ff03034d;border-radius:8px;padding:10px 8px" valign="middle">
                    <p class="pad0 mar0 markets-table-text" style="white-space:nowrap;vertical-align:middle;text-align:center;margin:0;padding:0;font-size:16px;font-weight:700;line-height:1em">
                     -0.24%
                    </p>
                   </td>
                  </tr>
                 </table>
                </td>
               </tr>
              </table>
             </td>
            </tr>
            <!-- END Dow -->
            <!-- 10-Year -->
            <tr>
             <td class="pads10 pads6m lastline" style="text-align:center;mso-padding-alt:0 20px 0 20px;border-top:1px solid #e6e6e6;border-bottom:1px solid #e6e6e6;padding-bottom:0">
              <table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse:collapse;border-collapse:collapse" width="100%">
               <tr>
                <td align="center" 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=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZjZG4uc2FuaXR5LiIsInRpbWUiOjE3NDY1MjM2NjUuMTg3Nn0:1uCEaX:Mggs3ArR09oQFGrCVPBeoKs8bb_h-hOLQ5U3w21wJYs" style="width:22%" width="20"/>
                </td>
                <td class="markets-ticker-cell" style="width:34%" valign="middle">
                 <p class="pad0 mar0 markets-table-text" style="white-space:nowrap;vertical-align:middle;text-align:left;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="pad0 mar0 markets-table-text" style="white-space:nowrap;vertical-align:middle;text-align:left;margin:0;padding:0;font-size:16px;font-weight:700;line-height:1em">
                  4.343%
                 </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;border-collapse:collapse;width:70%;margin:0 auto">
                  <tr>
                   <td style="background-color:#28d31a4d;border-radius:8px;padding:10px 8px" valign="middle">
                    <p class="pad0 mar0 markets-table-text" style="white-space:nowrap;vertical-align:middle;text-align:center;margin:0;padding:0;font-size:16px;font-weight:700;line-height:1em">
                     +2.0 bps
                    </p>
                   </td>
                  </tr>
                 </table>
                </td>
               </tr>
              </table>
             </td>
            </tr>
            <!-- END 10-Year -->
            <!-- Bitcoin -->
            <tr>
             <td class="pads10 pads6m lastline" style="text-align:center;mso-padding-alt:0 20px 0 20px;border-top:1px solid #e6e6e6;border-bottom:1px solid #e6e6e6;padding-bottom:0">
              <table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse:collapse;border-collapse:collapse" width="100%">
               <tr>
                <td align="center" 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=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZjZG4uc2FuaXR5LiIsInRpbWUiOjE3NDY1MjM2NjUuMTg3NjkxfQ:1uCEaX:OrsvGLTrJUEfIT3C0X29ItM9UXbi8Q_s3mlrAKQFV8k" style="width:22%" width="20"/>
                </td>
                <td class="markets-ticker-cell" style="width:34%" valign="middle">
                 <p class="pad0 mar0 markets-table-text" style="white-space:nowrap;vertical-align:middle;text-align:left;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="pad0 mar0 markets-table-text" style="white-space:nowrap;vertical-align:middle;text-align:left;margin:0;padding:0;font-size:16px;font-weight:700;line-height:1em">
                  $94,522.34
                 </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;border-collapse:collapse;width:70%;margin:0 auto">
                  <tr>
                   <td style="background-color:#28d31a4d;border-radius:8px;padding:10px 8px" valign="middle">
                    <p class="pad0 mar0 markets-table-text" style="white-space:nowrap;vertical-align:middle;text-align:center;margin:0;padding:0;font-size:16px;font-weight:700;line-height:1em">
                     +0.22%
                    </p>
                   </td>
                  </tr>
                 </table>
                </td>
               </tr>
              </table>
             </td>
            </tr>
            <!-- END Bitcoin -->
            <!-- AppLovin -->
            <tr>
             <td class="pads10 pads6m lastline" style="text-align:center;mso-padding-alt:0 20px 0 20px;border-top:1px solid #e6e6e6;border-bottom:1px solid #e6e6e6;padding-bottom:0">
              <table border="0" cellpadding="0" cellspacing="0" role="presentation" style="border-collapse:collapse;border-collapse:collapse" width="100%">
               <tr>
                <td align="center" 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=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZjZG4uc2FuaXR5LiIsInRpbWUiOjE3NDY1MjM2NjUuMTg3NzkyfQ:1uCEaX:lWer5fsBH2ASfZ-LliRtkJjSDkYKSzrE4gFjBWBtILQ" style="width:22%" width="20"/>
                </td>
                <td class="markets-ticker-cell" style="width:34%" valign="middle">
                 <p class="pad0 mar0 markets-table-text" style="white-space:nowrap;vertical-align:middle;text-align:left;margin:0;padding:0;font-size:16px;font-weight:700;line-height:1em">
                  AppLovin
                 </p>
                </td>
                <td class="markets-value-cell" style="width:34%" valign="middle">
                 <p class="pad0 mar0 markets-table-text" style="white-space:nowrap;vertical-align:middle;text-align:left;margin:0;padding:0;font-size:16px;font-weight:700;line-height:1em">
                  $301.84
                 </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;border-collapse:collapse;width:70%;margin:0 auto">
                  <tr>
                   <td style="background-color:#ff03034d;border-radius:8px;padding:10px 8px" valign="middle">
                    <p class="pad0 mar0 markets-table-text" style="white-space:nowrap;vertical-align:middle;text-align:center;margin:0;padding:0;font-size:16px;font-weight:700;line-height:1em">
                     -1.87%
                    </p>
                   </td>
                  </tr>
                 </table>
                </td>
               </tr>
              </table>
             </td>
            </tr>
            <!-- END AppLovin -->
            <!-- START REGULAR TEXT -->
            <tr>
             <td style="padding:3px 15px 10px">
              <table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;border-collapse:collapse;font-size:13px">
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                <td style="padding-right:4px">
                 Data is provided by
                </td>
                <td style="margin:0;padding-right:5px">
                 <a 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=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZjZG4uc2FuaXR5LiIsInRpbWUiOjE3NDY1MjM2NjUuMTg3ODkwM30:1uCEaX:kwpF1Xwp20yeokts4aDkha7V5Vz8rs5OpSo55HhEZ5g" style="vertical-align:middle;height:16px;display:inline"/>
                 </a>
                </td>
               </tr>
              </table>
              <p style="text-align:left;margin:0;padding:0;font-size:13px;line-height:22px">
               *Stock data as of market close, cryptocurrency data as of 1:00am ET.
               <a class="link-sm" rel="noopener" style="color:#333;border-bottom:1px solid #1c7ff2;text-decoration:none" target="_blank">
                Here's what these numbers mean.
               </a>
              </p>
             </td>
            </tr>
            <!-- END REGULAR TEXT -->
            <tr>
             <td style="mso-padding-alt:0px 15px 15px 15px;padding:0 15px">
              <ul style="margin-top:0;padding-left:30px">
               <li style="margin-bottom:10px;line-height:22px">
                <span>
                 <strong style="color:#000">
                  Markets:
                 </strong>
                </span>
                <span>
                 Aaaand it’s gone. The S&amp;P 500
                </span>
                <span>
                 <a class="link" style="color:#333;border-bottom:2px solid #1c7ff2;text-decoration:none" target="_blank">
                  snapped its longest winning streak
                 </a>
                </span>
                <span>
                 since 2004 after President Trump said he had no plans to speak with Chinese President Xi Jinping, and as investors await the outcome of this week’s Federal Reserve meeting on tenterhooks. Mobile tech company AppLovin closed lower on Monday, an important deadline in a class action lawsuit against it.
                </span>
               </li>
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           <h3 style="color:#1c7ff2;margin-top:0;margin-bottom:0;font-family:Helvetica,Arial,sans-serif;font-size:16px;font-weight:700">
            ENTERTAINMENT
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                 Can tariffs bring back the US film industry?
                </a>
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               <img alt="Hollywood sign with &quot;we've moved!&quot; sign hung on it." src="https://inboxflows.com/_/image/https%253A%252F%252Fcdn.sanity.io%252Fimages%252Fbl383u0v%252Fproduction%252F44642c8dca2e3ab1e2903ff21a34b555c3af9710-1500x1000.jpg%253Fw%253D668%2526q%253D70%2526auto%253Dformat/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZjZG4uc2FuaXR5LiIsInRpbWUiOjE3NDY1MjM2NjUuMTg3OTkzOH0:1uCEaX:CcPCzo1sOcssxEa8Uy9vIYBITGQ6O0SsKYeb9ySROPU" style="width:100%;max-width:670px;display:block" width="670"/>
              </a>
              <p style="margin:0;padding:0;line-height:22px">
               <span class="source" style="margin-top:5px;margin-bottom:0;padding-left:10px;line-height:14px;display:inline-block">
                <small>
                 <em>
                  Anna Kim
                 </em>
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                <p style="margin-top:0;margin-bottom:15px;line-height:22px">
                 Yesterday, President Trump said he would talk directly with Hollywood officials to see if they were “happy” with his proposal to put a tariff on foreign-made films entering the US. In the meantime, industry players
                 <a class="link" style="color:#333;border-bottom:2px solid #1c7ff2;text-decoration:none" target="_blank">
                  shared their reactions
                 </a>
                 .
                </p>
                <h2 style="color:#000;margin:0 0 15px;font-family:Helvetica,Arial,sans-serif;font-size:19px;font-weight:700">
                 What’s happening
                </h2>
                <p style="margin-top:0;margin-bottom:15px;line-height:22px">
                 On Sunday, Trump announced the tariff in a Truth Social post lamenting the dying US movie industry and saying foreign countries’ tax incentives for film companies amounted to a national security threat. In response, big entertainment stocks like Netflix, Disney, Warner Bros. Discovery, Paramount, and Comcast saw sharp declines yesterday before stabilizing by the end of the trading session.
                </p>
                <p style="margin-top:0;margin-bottom:15px;line-height:22px">
                 <strong style="color:#000">
                  Why?
                 </strong>
                 Investors thought Trump’s plan spelled trouble for the film and TV industry. Netflix, for instance, produces an estimated ~
                 <a class="link" style="color:#333;border-bottom:2px solid #1c7ff2;text-decoration:none" target="_blank">
                  75%
                 </a>
                 of its total content internationally.
                </p>
                <h2 style="color:#000;margin:0 0 15px;font-family:Helvetica,Arial,sans-serif;font-size:19px;font-weight:700">
                 The president has a point
                </h2>
                <p style="margin-top:0;margin-bottom:15px;line-height:22px">
                 From 2021 to 2024, film and TV production spending in the US dropped 28%, according to research firm ProdPro. Tax incentives and lower labor costs have attracted the industry to Canada and overseas to countries like Australia and parts of the UK:
                </p>
                <ul style="margin-top:0;padding-left:30px">
                 <li style="margin-bottom:10px;line-height:22px">
                  <span>
                   Last year, about two-thirds of the money the UK film industry earned came from US studios and streaming platforms.
                  </span>
                 </li>
                 <li style="margin-bottom:10px;line-height:22px">
                  <span>
                   Los Angeles just wrapped its
                  </span>
                  <span>
                   <a class="link" style="color:#333;border-bottom:2px solid #1c7ff2;text-decoration:none" target="_blank">
                    worst year
                   </a>
                  </span>
                  <span>
                   in three decades for on-location filming in the city aside from 2020.
                  </span>
                 </li>
                </ul>
                <p style="margin-top:0;margin-bottom:15px;line-height:22px">
                 <strong style="color:#000">
                  There are still a lot of questions…
                 </strong>
                 industry experts and analysts say a blanket tariff, as opposed to some kind of federal film incentive, which unions have advocated for, is confusing and could end up harming the industry. For starters, tariffs are usually reserved for physical goods and enforced by border agents. You could put a tariff on DVDs, but it’s unclear what part of the production would get the levy. Some movies are filmed partly in the US and partly abroad, or a film could shoot in the US and then be edited in the UK.
                 <em>
                  —MM
                 </em>
                </p>
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                 Tour de headlines
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              <img alt="OpenAI CEO Sam Altman speaks at a presentation" src="https://inboxflows.com/_/image/https%253A%252F%252Fcdn.sanity.io%252Fimages%252Fbl383u0v%252Fproduction%252F14899e5681214b3af96d18c39596cd4dc8fad38d-1500x1000.jpg%253Fw%253D668%2526q%253D70%2526auto%253Dformat/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZjZG4uc2FuaXR5LiIsInRpbWUiOjE3NDY1MjM2NjUuMTg4NDkwMn0:1uCEaX:pFV3oYtLfM9m6idBjSogP99QhQVXBvmB_qzSGAH4tIg" style="width:100%;max-width:670px;display:block" width="670"/>
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                  Tomohiro Ohsumi/Getty Images
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                  <img alt="" src="https://inboxflows.com/_/image/https%253A%252F%252Fem-content.zobj.net%252Fthumbs%252F120%252Fapple%252F237%252Fdesktop-computer_1f5a5.png/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZlbS1jb250ZW50LiIsInRpbWUiOjE3NDY1MjM2NjUuMTg4NTgxNX0:1uCEaX:o0RhBJhuOQRzCe0E87dVgxKRbTYUTb-zFnhsgqS0Tos" style="max-width:18px" width="18"/>
                  OpenAI’s nonprofit will remain in control of the company.
                 </strong>
                 In a blog post on Monday, CEO Sam Altman announced that the nonprofit organization that has been in control of the ChatGPT-maker since 2019 will remain so, while OpenAI’s for-profit LLC will be converted to a
                 <a class="link" style="color:#333;border-bottom:2px solid #1c7ff2;text-decoration:none" target="_blank">
                  public benefit corporation
                 </a>
                 . Altman’s U-turn on his plan to make the company a more traditional for-profit represents a win for those who openly opposed the proposal and called for the tech organization to remain true to its founding principles—most notably, Elon Musk, an OpenAI co-founder who now runs the competing company xAI. When asked about the feud with Musk on a call with journalists, Altman responded, “We are obsessed with our mission and what it takes to fulfill that. You all are obsessed with Elon, that’s your job—like, more power to you.” OpenAI was valued at $300 billion in a recent funding round led by SoftBank.
                </p>
                <p style="margin-top:0;margin-bottom:15px;line-height:22px">
                 <img alt="" src="https://inboxflows.com/_/image/https%253A%252F%252Fem-content.zobj.net%252Fthumbs%252F120%252Fapple%252F237%252Fairplane-arriving_1f6ec.png/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZlbS1jb250ZW50LiIsInRpbWUiOjE3NDY1MjM2NjUuMTg4NjY5fQ:1uCEaX:clwABw7ocLCUIKesK-OWOMLEaySRqGRqZe4u4CU5iis" style="max-width:18px" width="18"/>
                 <strong style="color:#000">
                  Air traffic controllers lost touch with all planes at Newark for 90 seconds.
                 </strong>
                 Bloomberg quoted anonymous sources as saying that the air traffic controllers who guide planes into Newark Liberty International Airport
                 <a class="link" style="color:#333;border-bottom:2px solid #1c7ff2;text-decoration:none" target="_blank">
                  lost all radar and radio communication
                 </a>
                 for about a minute and a half on April 28, which resulted in staff reduction and contributed to the week of delays the airport subsequently weathered. One of the sources said there is no backup for when those systems fail, and controllers can only wait for them to come back online. The National Air Traffic Controllers Association, the union representing the ATCs, confirmed the incident happened and that members did not simply walk off the job, as United CEO Scott Kirby characterized in a statement last week.
                 <a class="link" style="color:#333;border-bottom:2px solid #1c7ff2;text-decoration:none" target="_blank">
                  CNN reported
                 </a>
                 that at least five FAA employees took 45 days of trauma leave following the incident.
                </p>
                <p style="margin-top:0;margin-bottom:15px;line-height:22px">
                 <img alt="" src="https://inboxflows.com/_/image/https%253A%252F%252Fem-content.zobj.net%252Fthumbs%252F120%252Fapple%252F237%252Fathletic-shoe_1f45f.png/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZlbS1jb250ZW50LiIsInRpbWUiOjE3NDY1MjM2NjUuMTg4NzU2NX0:1uCEaX:JWI3XyzPGM-uNf7OMTM4ZfdrS9NknY591hrSaq69CXg" style="max-width:18px" width="18"/>
                 <strong style="color:#000">
                  Private equity is buying Skechers.
                 </strong>
                 And not just a few pairs—the entire company. The firm 3G Capital will
                 <a class="link" style="color:#333;border-bottom:2px solid #1c7ff2;text-decoration:none" target="_blank">
                  take the sneaker company private
                 </a>
                 in a deal valued at $9.4 billion, a 30% premium on Skechers’s current valuation. Founded by CEO Robert Greenberg and his son Michael in 1992, the shoe brand originally focused on grunge boots, but later expanded into family footwear and athletics. It went public in 1999, and today stands out as a go-to for light-up kids’ shoes and pickleball kicks made with Goodyear rubber. Under the deal, both Greenbergs will stay on to lead the company, along with their COO. The announcement did not mention any concerns over tariffs, although 66% of the company’s revenue comes from outside the US, and China accounts for 15%, according to FactSet.—
                 <em>
                  HVL
                 </em>
                </p>
               </td>
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                <a style="color:#000;border-bottom:none;text-decoration:none" target="_blank">
                 Defaulted student debt collection is back
                </a>
               </h1>
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               <span class="source" style="margin-top:5px;margin-bottom:0;padding-left:10px;line-height:14px;display:inline-block">
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                 <em>
                  Anadolu/Getty Images
                 </em>
                </small>
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                <p style="margin-top:0;margin-bottom:15px;line-height:22px">
                 Uncle Sam began collecting defaulted student debt yesterday for the first time since imposing a Covid-era pause in March 2020. Borrowers who have missed payments for more than 270 days
                 <a class="link" style="color:#333;border-bottom:2px solid #1c7ff2;text-decoration:none" target="_blank">
                  will start
                 </a>
                 getting their debt deducted from tax refunds, wages, and government benefits, the Trump administration said.
                </p>
                <p style="margin-top:0;margin-bottom:15px;line-height:22px">
                 Among the 42 million Americans with federal student loans, a record share have missed payments, per TransUnion:
                </p>
                <ul style="margin-top:0;padding-left:30px">
                 <li style="margin-bottom:10px;line-height:22px">
                  <span>
                   Over 5 million borrowers are in default, meaning they are at least 270 days behind on payments, and 4 million more are in late-stage delinquency (90+ days behind).
                  </span>
                 </li>
                 <li style="margin-bottom:10px;line-height:22px">
                  <span>
                   Only a third of Americans with federal loans have been making regular payments during the pause, according to the Department of Education.
                  </span>
                 </li>
                </ul>
                <p style="margin-top:0;margin-bottom:15px;line-height:22px">
                </p>
                <p style="margin-top:0;margin-bottom:15px;line-height:22px">
                 Ending up in collections for student loan default is a credit score smasher, with defaulters’ ratings at risk of sinking as much as 171 points, according to the New York Fed, making it more difficult for them to take out future loans and rent housing.
                </p>
                <h2 style="color:#000;margin:0 0 15px;font-family:Helvetica,Arial,sans-serif;font-size:19px;font-weight:700">
                 How can you find out if you’ve defaulted?
                </h2>
                <p style="margin-top:0;margin-bottom:15px;line-height:22px">
                 Borrowers can check their federal student loan status at
                 <a class="link" style="color:#333;border-bottom:2px solid #1c7ff2;text-decoration:none" target="_blank">
                  StudentAid.gov
                 </a>
                 . Defaulted debtors will get an email from the Federal Student Aid office in the next few weeks referring them to the Education Department’s Default Resolution Group
                 <strong style="color:#000">
                  .
                 </strong>
                </p>
                <p style="margin-top:0;margin-bottom:15px;line-height:22px">
                 <strong style="color:#000">
                  There are options
                 </strong>
                 for anyone with loan trouble, including
                 <a class="link" style="color:#333;border-bottom:2px solid #1c7ff2;text-decoration:none" target="_blank">
                  income-driven repayment programs
                 </a>
                 , consolidating loans to prolong repayment, or getting a loan payment pause through forbearance or
                 <a class="link" style="color:#333;border-bottom:2px solid #1c7ff2;text-decoration:none" target="_blank">
                  deferment
                 </a>
                 .
                 <em>
                  —SK
                 </em>
                </p>
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            Together With Planet Oat
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               Sippin’ on success.
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              Check out our
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              with Planet Oat and see if you can beat us at our own game. And while you’re at it, if you’re lookin’ to sip on a delish, dairy-free milk alternative, Planet Oat’s got oatmilk for every occasion.
              <a class="link" style="color:#333;border-bottom:2px solid #1c7ff2;text-decoration:none" target="_blank">
               Give it a taste
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              .
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           <h3 style="color:#1c7ff2;margin-top:0;margin-bottom:0;font-family:Helvetica,Arial,sans-serif;font-size:16px;font-weight:700">
            AUTO
           </h3>
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                 Nobody’s driving this 18-wheeler
                </a>
               </h1>
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               <img alt="Autonomous Aurora truck" src="https://inboxflows.com/_/image/https%253A%252F%252Fcdn.sanity.io%252Fimages%252Fbl383u0v%252Fproduction%252F48fac7ca6d693a550298718fa985ea72e47e5035-1500x1000.jpg%253Fw%253D668%2526q%253D70%2526auto%253Dformat/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZjZG4uc2FuaXR5LiIsInRpbWUiOjE3NDY1MjM2NjUuMTg5Mjk5M30:1uCEaX:I_cZ4sHR9Vvdl7pju2vCnsGSNJISnHyRmEl_eHU_bgY" style="width:100%;max-width:670px;display:block" width="670"/>
              </a>
              <p style="margin:0;padding:0;line-height:22px">
               <span class="source" style="margin-top:5px;margin-bottom:0;padding-left:10px;line-height:14px;display:inline-block">
                <small>
                 <em>
                  Aurora
                 </em>
                </small>
               </span>
              </p>
             </div>
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                <p style="margin-top:0;margin-bottom:15px;line-height:22px">
                 Clear the roads for Transformers whose only form is truck: Self-driving semis are officially making long-haul deliveries in Texas without anybody onboard—an achievement expected to become more common over the next year.
                </p>
                <p style="margin-top:0;margin-bottom:15px;line-height:22px">
                 <strong style="color:#000">
                  Leading the charge:
                 </strong>
                 The autonomous freight firm
                 <a class="link" style="color:#333;border-bottom:2px solid #1c7ff2;text-decoration:none" target="_blank">
                  Aurora
                 </a>
                 is now hauling goods on a popular route between Dallas and Houston without a safety driver present, the company
                 <a class="link" style="color:#333;border-bottom:2px solid #1c7ff2;text-decoration:none" target="_blank">
                  announced
                 </a>
                 last Thursday, following four years of practice runs:
                </p>
                <ul style="margin-top:0;padding-left:30px">
                 <li style="margin-bottom:10px;line-height:22px">
                  <span>
                   Aurora said it had already logged 1,200 human-free miles.
                  </span>
                 </li>
                 <li style="margin-bottom:10px;line-height:22px">
                  <span>
                   Its first customers are Uber Freight and Hirschbach Motor Lines.
                  </span>
                 </li>
                </ul>
                <p style="margin-top:0;margin-bottom:15px;line-height:22px">
                 <strong style="color:#000">
                  Savor every chance you get to beg a truck driver to honk their horn.
                 </strong>
                 More than 1 in 10 freight trucks you see on US roads will be self-driven in 2035, according to a McKinsey analysis that also pegged a trucking company’s cost-per-mile savings at 42% if it automates an entire fleet. Truckers unions have generally criticized automation as a threat to their job security and public safety, since self-driving vehicles lack federal regulation.
                </p>
                <p style="margin-top:0;margin-bottom:15px;line-height:22px">
                 <strong style="color:#000">
                  Looking ahead...
                 </strong>
                 at least 10 more companies are closing in on their own self-driving truck tech, with most
                 <a class="link" style="color:#333;border-bottom:2px solid #1c7ff2;text-decoration:none" target="_blank">
                  planning to launch
                 </a>
                 commercially by next year, according to Axios.—
                 <em>
                  ML
                 </em>
                </p>
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            STAT
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                 Prime number: Cardinals’ social media followers
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                  Cardinal William Seng Chye Goh, archbishop of Singapore. Gabriel Bouys/Getty Images
                 </em>
                </small>
               </span>
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               <td class="content-container" style="padding:15px">
                <p style="margin-top:0;margin-bottom:15px;line-height:22px">
                 “Drippy Pope” was fake, but can “Influencer Pope” become a reality? ABC News took a look at
                 <a class="link" style="color:#333;border-bottom:2px solid #1c7ff2;text-decoration:none" target="_blank">
                  the social media habits
                 </a>
                 of some current members of the College of Cardinals, who will begin the process of selecting a new pope tomorrow.
                </p>
                <p style="margin-top:0;margin-bottom:15px;line-height:22px">
                 Cardinal Tarcisio Isao Kikuchi, the archbishop of Tokyo, has a modest Instagram following of around 3,000 but is not afraid to post a selfie. Cardinal Luis Antonio Tagle, the former archbishop of the Philippines, has 642,000 followers on Facebook.
                </p>
                <p style="margin-top:0;margin-bottom:15px;line-height:22px">
                 But it’s Cardinal Timothy Dolan, the archbishop of New York, who seems most at home in the digital age. He has almost 300,000 followers on X, where he has been posting videos from around Rome and even some news of the cardinals’ meeting locations leading up to the conclave.
                </p>
                <p style="margin-top:0;margin-bottom:15px;line-height:22px">
                 Gustavo Entrala, a former communications consultant for the late Pope Benedict and Pope Francis, said he can’t imagine any of the cardinals are actively “posting for the fact that they want to be elected.” However, the next pope will lead the 1.4 billion members of the Catholic Church, so it makes sense that candidates would want to connect with them.—
                 <em>
                  HVL
                 </em>
                </p>
               </td>
              </tr>
             </table>
            </td>
           </tr>
          </table>
         </td>
        </tr>
       </table>
       <!--[if !mso ]><! -- -->
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      <!-- STORY ARTICLE -->
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           <h3 style="color:#1c7ff2;margin-top:0;margin-bottom:0;font-family:Helvetica,Arial,sans-serif;font-size:16px;font-weight:700">
            NEWS
           </h3>
          </div>
          <table border="0" cellpadding="0" cellspacing="0" class="story-content-container" style="border-collapse:collapse" width="100%">
           <tr>
            <td class="card-content">
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               <h1 class="story-title" style="color:#000;margin-top:8px;margin-bottom:0;font-family:Helvetica,Arial,sans-serif;font-size:24px;font-weight:700;line-height:26px">
                <a style="color:#000;border-bottom:none;text-decoration:none" target="_blank">
                 What else is brewing
                </a>
               </h1>
              </div>
             </table>
             <table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse" width="100%">
              <tr>
               <td class="content-container" style="padding:15px">
                <ul style="margin-top:0;padding-left:30px">
                 <li style="margin-bottom:10px;line-height:22px">
                  <span>
                   <a class="link" style="color:#333;border-bottom:2px solid #1c7ff2;text-decoration:none" target="_blank">
                    The Met Gala
                   </a>
                  </span>
                  <span>
                   served up sumptuous looks on a blue carpet.
                  </span>
                 </li>
                 <li style="margin-bottom:10px;line-height:22px">
                  <span>
                   <a class="link" style="color:#333;border-bottom:2px solid #1c7ff2;text-decoration:none" target="_blank">
                    Ford
                   </a>
                  </span>
                  <span>
                   suspended its full-year guidance amid economic uncertainty and said it thinks tariffs will cost it $1.5 billion in net earnings this year.
                  </span>
                 </li>
                 <li style="margin-bottom:10px;line-height:22px">
                  <span>
                   <a class="link" style="color:#333;border-bottom:2px solid #1c7ff2;text-decoration:none" target="_blank">
                    Credit Suisse
                   </a>
                  </span>
                  <span>
                   will pay $511 million to settle a case with the Department of Justice, which accused the bank of helping US taxpayers stash $4 billion offshore.
                  </span>
                 </li>
                 <li style="margin-bottom:10px;line-height:22px">
                  <span>
                   <a class="link" style="color:#333;border-bottom:2px solid #1c7ff2;text-decoration:none" target="_blank">
                    A Wisconsin woman
                   </a>
                  </span>
                  <span>
                   who disappeared nearly 63 years ago was found in another state and said she had no regrets about reinventing herself.
                  </span>
                 </li>
                 <li style="margin-bottom:10px;line-height:22px">
                  <span>
                   <a class="link" style="color:#333;border-bottom:2px solid #1c7ff2;text-decoration:none" target="_blank">
                    Pope Francis
                   </a>
                  </span>
                  <span>
                   bequeathed one of his popemobiles to be refitted as a mobile health clinic for the children of Gaza.
                  </span>
                 </li>
                </ul>
               </td>
              </tr>
             </table>
            </td>
           </tr>
          </table>
         </td>
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           <h3 style="color:#1c7ff2;margin-top:0;margin-bottom:0;font-family:Helvetica,Arial,sans-serif;font-size:16px;font-weight:700">
            RECS
           </h3>
          </div>
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            <td class="story-content">
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              <img alt="To-do list banner" src="https://inboxflows.com/_/image/https%253A%252F%252Fcdn.sanity.io%252Fimages%252Fbl383u0v%252Fproduction%252F762cbc4c673b8613a0de1bf6711a4fc25276f7a4-1350x330.png%253Fw%253D668%2526q%253D70%2526auto%253Dformat/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZjZG4uc2FuaXR5LiIsInRpbWUiOjE3NDY1MjM2NjUuMTg5NzQ3OH0:1uCEaX:-gzLQjkx4UhcEW0HHZqGroCsnsmRHpTmfHm7mvLQp1w" style="width:100%;max-width:670px;display:block" width="670"/>
              <p style="margin:0;padding:0;line-height:22px">
               <span class="source" style="margin-top:5px;margin-bottom:0;padding-left:10px;line-height:14px;display:inline-block">
                <small>
                 <em>
                 </em>
                </small>
               </span>
              </p>
             </div>
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              <tr>
               <td class="content-container" style="padding:15px">
                <div>
                 <p style="margin-top:0;margin-bottom:15px;line-height:22px">
                  <img alt="" src="https://inboxflows.com/_/image/https%253A%252F%252Fem-content.zobj.net%252Fthumbs%252F120%252Fapple%252F237%252Fwhite-heavy-check-mark_2705.png/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZlbS1jb250ZW50LiIsInRpbWUiOjE3NDY1MjM2NjUuMTg5ODMzfQ:1uCEaX:DJ21hxF2GbZBfmaclmsUEwCTdS3gEdjUUOg8WgLC7a8" style="max-width:18px" width="18"/>
                  <strong style="color:#000">
                   Click:
                  </strong>
                  An
                  <a class="link" style="color:#333;border-bottom:2px solid #1c7ff2;text-decoration:none" target="_blank">
                   uncomplicated programmable mouse
                  </a>
                  to level up your productivity.**
                 </p>
                 <p style="margin-top:0;margin-bottom:15px;line-height:22px">
                  <img alt="" src="https://inboxflows.com/_/image/https%253A%252F%252Fem-content.zobj.net%252Fthumbs%252F120%252Fapple%252F237%252Fwhite-heavy-check-mark_2705.png/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZlbS1jb250ZW50LiIsInRpbWUiOjE3NDY1MjM2NjUuMTg5OTQ4Nn0:1uCEaX:txC9FDZLx03S4mqW7QiDZtXerVRcMsOLtSKReLKwLQo" style="max-width:18px" width="18"/>
                  <strong style="color:#000">
                   Debate:
                  </strong>
                  Should English speakers retire the phrase “
                  <a class="link" style="color:#333;border-bottom:2px solid #1c7ff2;text-decoration:none" target="_blank">
                   begs the question
                  </a>
                  ”?
                 </p>
                 <p style="margin-top:0;margin-bottom:15px;line-height:22px">
                  <img alt="" src="https://inboxflows.com/_/image/https%253A%252F%252Fem-content.zobj.net%252Fthumbs%252F120%252Fapple%252F237%252Fwhite-heavy-check-mark_2705.png/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZlbS1jb250ZW50LiIsInRpbWUiOjE3NDY1MjM2NjUuMTkwMDM5Nn0:1uCEaX:ejnC7TCn2aUZ34vTfOk-FHDzDYsqXIvbdRN25pdWNYA" style="max-width:18px" width="18"/>
                  <strong style="color:#000">
                   Relieve stress:
                  </strong>
                  Watch a guided meditation with
                  <a class="link" style="color:#333;border-bottom:2px solid #1c7ff2;text-decoration:none" target="_blank">
                   Gumbus the cat
                  </a>
                  .
                 </p>
                 <p style="margin-top:0;margin-bottom:15px;line-height:22px">
                  <img alt="" src="https://inboxflows.com/_/image/https%253A%252F%252Fem-content.zobj.net%252Fthumbs%252F120%252Fapple%252F237%252Fwhite-heavy-check-mark_2705.png/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZlbS1jb250ZW50LiIsInRpbWUiOjE3NDY1MjM2NjUuMTkwMTI0OH0:1uCEaX:wrE6SgkPZIPbFnXH9bqz3Yc8m9KFfdIaBigg0NgC0xI" style="max-width:18px" width="18"/>
                  <strong style="color:#000">
                   Attune:
                  </strong>
                  A psychologist told CNBC
                  <a class="link" style="color:#333;border-bottom:2px solid #1c7ff2;text-decoration:none" target="_blank">
                   the top phrase that breaks up relationships
                  </a>
                  .
                 </p>
                 <p style="margin-top:0;margin-bottom:15px;line-height:22px">
                  <strong style="color:#000">
                   <img alt="" src="https://inboxflows.com/_/image/https%253A%252F%252Fem-content.zobj.net%252Fthumbs%252F120%252Fapple%252F237%252Fwhite-heavy-check-mark_2705.png/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZlbS1jb250ZW50LiIsInRpbWUiOjE3NDY1MjM2NjUuMTkwMjA5OX0:1uCEaX:I2kaDb3TFUgCystcXB1tYRx6J1snDyIFhkpQkxQGhHo" style="max-width:18px" width="18"/>
                   Driving a gold mine?:
                  </strong>
                  Get to know your car’s true worth from the experts you trust at
                  <a class="link" style="color:#333;border-bottom:2px solid #1c7ff2;text-decoration:none" target="_blank">
                   Edmunds
                  </a>
                  . You can get instant online appraisal, with no hassle and no obligations, at
                  <a class="link" style="color:#333;border-bottom:2px solid #1c7ff2;text-decoration:none" target="_blank">
                   Edmunds.com
                  </a>
                  .*
                 </p>
                 <placementslot data-id="d2754ee24bc3">
                 </placementslot>
                 <p style="margin-top:0;margin-bottom:15px;line-height:22px">
                  <sup>
                   <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>
                </div>
               </td>
              </tr>
             </table>
            </td>
           </tr>
          </table>
         </td>
        </tr>
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           <h3 style="color:#1c7ff2;margin-top:0;margin-bottom:0;font-family:Helvetica,Arial,sans-serif;font-size:16px;font-weight:700">
            GAMES
           </h3>
          </div>
          <table border="0" cellpadding="0" cellspacing="0" class="story-content-container" style="border-collapse:collapse" width="100%">
           <tr>
            <td class="card-content">
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               <h1 class="story-title" style="color:#000;margin-top:8px;margin-bottom:0;font-family:Helvetica,Arial,sans-serif;font-size:24px;font-weight:700;line-height:26px">
                <a style="color:#000;border-bottom:none;text-decoration:none" target="_blank">
                 The puzzle section
                </a>
               </h1>
              </div>
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                <p style="margin-top:0;margin-bottom:15px;line-height:22px">
                 <strong style="color:#000">
                  Brew Mini:
                 </strong>
                 Neal took 1:12 to solve today’s Mini. Can you beat that time? (Yes, you can.)
                 <a class="link" style="color:#333;border-bottom:2px solid #1c7ff2;text-decoration:none" target="_blank">
                  Play it here
                 </a>
                 .
                </p>
                <h2 style="color:#000;margin:0 0 15px;font-family:Helvetica,Arial,sans-serif;font-size:19px;font-weight:700">
                 Film set trivia
                </h2>
                <p style="margin-top:0;margin-bottom:15px;line-height:22px">
                 For the movies below, name the primary country they were filmed in.
                </p>
                <ol>
                 <li style="margin-bottom:10px;line-height:22px">
                  <span>
                   <em>
                    Mamma Mia!
                   </em>
                  </span>
                 </li>
                 <li style="margin-bottom:10px;line-height:22px">
                  <span>
                   <em>
                    The Lord of the Rings
                   </em>
                  </span>
                  <span>
                   trilogy
                  </span>
                 </li>
                 <li style="margin-bottom:10px;line-height:22px">
                  <span>
                   <em>
                    Jurassic Park
                   </em>
                  </span>
                 </li>
                 <li style="margin-bottom:10px;line-height:22px">
                  <span>
                   <em>
                    Lost in Translation
                   </em>
                  </span>
                 </li>
                 <li style="margin-bottom:10px;line-height:22px">
                  <span>
                   <em>
                    Furiosa: A Mad Max Saga
                   </em>
                  </span>
                 </li>
                 <li style="margin-bottom:10px;line-height:22px">
                  <span>
                   <em>
                    Before Sunrise
                   </em>
                  </span>
                 </li>
                </ol>
               </td>
              </tr>
             </table>
            </td>
           </tr>
          </table>
         </td>
        </tr>
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           <h3 style="color:#1c7ff2;margin-top:0;margin-bottom:0;font-family:Helvetica,Arial,sans-serif;font-size:16px;font-weight:700">
            SHARE THE BREW
           </h3>
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                <p style="margin-top:0;margin-bottom:15px;line-height:22px">
                 <a class="link" style="color:#252525;border-bottom:2px solid #1c7ff2;text-decoration:none" target="_blank">
                  Share Morning Brew
                 </a>
                 with your friends, acquire free Brew swag, and then acquire more friends as a result of your fresh Brew swag.
                </p>
                <p style="margin-top:0;margin-bottom:15px;line-height:22px">
                 We’re saying we’ll give you free stuff and more friends if you share a link. One link.
                </p>
                <a>
                 <p style="margin-top:0;margin-bottom:15px;line-height:22px">
                  <img class="img-responsive" src="https://inboxflows.com/_/image/https%253A%252F%252Fcdn.sanity.io%252Fimages%252Fbl383u0v%252Fproduction%252Fe8c0d668fd2ce584105a14629f9409b29ddffc91-3840x2160.png%253Fw%253D640%2526q%253D60/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZjZG4uc2FuaXR5LiIsInRpbWUiOjE3NDY1MjM2NjUuMTkwMjk5NX0:1uCEaX:QI_SW0cvbKSPZLwquPHAPKS4etYuJQthjp3A_gXkprM" style="width:100%;max-width:640px;display:block;width:100%!important" width="640"/>
                 </p>
                </a>
                <p style="margin-top:0;margin-bottom:15px;line-height:22px">
                 <b>
                  Your referral count:
                 </b>
                 0
                </p>
                <a class="stb-btn" style="color:#fff;text-align:center;background-color:#1c7ff2;border-radius:4px;width:100%;max-width:150px;padding:15px;font-family:Helvetica,Arial,sans-serif;font-size:16px;font-weight:900;text-decoration:none;display:block;margin-top:inherit!important;margin-bottom:inherit!important;margin-right:inherit!important;margin-left:inherit!important">
                 Click to Share
                </a>
                <p style="margin-top:15px;margin-bottom:15px;line-height:22px">
                 Or copy &amp; paste your referral link to others:
                 <br/>
                 <a class="link" style="color:#252525;border-bottom:2px solid #1c7ff2;text-decoration:none" target="_blank">
                  morningbrew.com/daily/r/?kid=979c4554
                 </a>
                </p>
               </td>
              </tr>
             </table>
            </td>
           </tr>
          </table>
         </td>
        </tr>
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      <!-- STORY ARTICLE -->
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       <!-- <![endif]-->
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           <h3 style="color:#1c7ff2;margin-top:0;margin-bottom:0;font-family:Helvetica,Arial,sans-serif;font-size:16px;font-weight:700">
            ANSWER
           </h3>
          </div>
          <table border="0" cellpadding="0" cellspacing="0" class="story-content-container" style="border-collapse:collapse" width="100%">
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            <td class="card-content">
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              <tr>
               <td class="content-container" style="padding:15px">
                <ol>
                 <li style="margin-bottom:10px;line-height:22px">
                  <span>
                   Greece
                  </span>
                 </li>
                 <li style="margin-bottom:10px;line-height:22px">
                  <span>
                   New Zealand
                  </span>
                 </li>
                 <li style="margin-bottom:10px;line-height:22px">
                  <span>
                   United States (Hawaii)
                  </span>
                 </li>
                 <li style="margin-bottom:10px;line-height:22px">
                  <span>
                   Japan
                  </span>
                 </li>
                 <li style="margin-bottom:10px;line-height:22px">
                  <span>
                   Australia
                  </span>
                 </li>
                 <li style="margin-bottom:10px;line-height:22px">
                  <span>
                   Austria
                  </span>
                 </li>
                </ol>
                <p style="margin-top:0;margin-bottom:15px;line-height:22px">
                 <span style="text-decoration:underline">
                  Word of the Day
                 </span>
                </p>
                <p style="margin-top:0;margin-bottom:15px;line-height:22px">
                 Today’s Word of the Day is: tenterhooks, meaning “sharp hooked nails,” which serve as a metaphor for a state of suspense. Thanks to Julie from Virginia and Cynthia Johnston from Florida for the gripping suggestion. Submit another Word of the Day
                 <a class="link" style="color:#333;border-bottom:2px solid #1c7ff2;text-decoration:none" target="_blank">
                  here
                 </a>
                 .
                </p>
               </td>
              </tr>
             </table>
            </td>
           </tr>
          </table>
         </td>
        </tr>
       </table>
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      <!-- DISCLAIMER -->
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                 The Journal of Retirement
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                (winter 2020)
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               . The projections or other information regarding the likelihood of various investment outcomes are hypothetical in nature, do not reflect actual investment results, and are not guarantees of your future results. Please follow the link to see the methodologies employed in
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