Good morning and welcome to Thursday. The Spirit Airlines – Frontier – JetBlue love triangle saga is coming to a close, with Spirit canceling its planned merger with Frontier yesterday like Kate did Leo at the end of Titanic (there was room for two!!!!).

JetBlue is still in the running to win Spirit’s hand, however. But Spirit’s board has argued that antitrust regulators would ultimately block its $3.7 billion offer, meaning the saga isn’t quite over yet… these days, everything has a sequel.

In today’s edition:

• 👩‍🔬 Another person has been cured of HIV
• 🏦 The Fed raises interest rates – again
• 🌊 See how much of the ocean has actually been explored

… and more.

🚀⏰ Ready, Set, Go: Today’s news takes 3.39 minutes to read.

"In seeking truth you have to get both sides of a story."

–Walter Cronkite (1916-2009)

Following the conclusion of its two-day meeting yesterday afternoon, the Federal Reserve’s policy board voted unanimously to raise interest rates by 0.75% for the second straight month.

🏦 More deets… After four rate hikes in a row, America’s benchmark short-term interest rate currently sits in the 2.25% to 2.5% range, the highest it's been since 2019.

• Jerome Powell’s the name, and fighting inflation is the game: the Fed Chair said the recent hikes are intended to combat inflation, which surged to a 40-year high last month (+9.1% compared to 2021).
• The decision to continue raising interest rates affects borrowing costs throughout the entire US economy. You can expect to see higher rates on mortgages, credit cards, student loans, saving accounts, corporate debt, and more. How much those rates increase will depend on how investors, businesses, and households respond.

📈 The market reacts: All three major US indexes finished higher on the day, after spiking at least one percentage point in the ten minutes after the Fed announced its rate hike. (Dow: +1.4% | S&P: +2.6% | Nasdaq: +4.1%)

👀 Looking ahead… Fed officials last month said they expect to raise the benchmark interest rate to the mid-3% range by the end of this year. Its next two policy meetings are scheduled for September 20-21 and November 1-2.

+Could it be?... The federal gov’t is set to report Q2 GDP numbers later this morning. If they’re negative, it would mean the US economy has officially entered into a technical recession, aka two consecutive quarters of GDP decline. (See a fuller definition here.) 

US adults under 30 are the only age cohort to see a decline in social media use in recent years, according to new data from the Pew Research Center.

📱 By the numbers… Since 2018, the overall ratio of US adults aged 18-29 who said they use at least one social media site has decreased from 88% to 84%. This stands in contrast to all other age groups over the same time period, whose usage actually increased.

• 30-49: 78% → 81%
• 50-64: 64% → 73%
• 65+: 37% → 45%

😬 One caveat, though: The recent dip in Young Americans’ social media usage has occurred across all major platforms… except for TikTok, per Piper Sandler’s latest Gen Z Consumer Survey.

✋ Also important to note… Both Pew and Piper Sandler use a fairly narrow definition of “social media,” excluding smaller, more specialized social apps that have become popular in recent years – like Twitch for live-streaming and gaming, Discord for private chat groups, BeReal for spontaneous updates, or Poparazzi for candid photos of friends.

+One interesting thing: 78% of US women say they use at least one social media site, compared to 66% of men.

A 66-year-old man from Los Angeles appears to be the fourth person ever officially cured of HIV, per new peer-reviewed research first made public yesterday.

🧪🥼 A deeper dive: The man had undergone a bone marrow transplant in March 2021 related to his leukemia, for which people with HIV are at increased risk. The transplant contained stem cells with a rare genetic mutation that blocks HIV infection.

• Unlike many people who have HIV but stay healthy by keeping the virus at low levels using drugs, doctors said this man showed zero detectable signs of the virus in his body after extensive testing.
• He’s the second person to be announced as cured this year, following researchers in February revealing the case of a New York woman with the disease who went into remission.

🤔 Does this mean we’ve found a cure?... Short answer: maybe. According to a doctor at the hospital where the LA man had the transplant, his operation is “a complex procedure with significant potential side effects. So, it's not really a suitable option for most people living with HIV."

• But researchers said they’re looking at other ways of targeting the HIV-resistant gene that led to his cure, which could result in future treatments for the 37.7 million people around the world currently living with the virus.

🍕🤖⌛ It’s July 28th… which means today is THE LAST day you can invest in Piestro! To recap:

• Piestro’s robotic kiosks produce mouth-watering pizza in minutes🤤
• They've already secured $580M in preorders, including 3,600 units for notable chain 800 Degrees🔥
• The reduced labor/real estate costs can result in TRIPLED profit margins for restaurants🥳
• The machines can operate 24/7 anywhere you can fit 2 vending machines (malls, airports, and other high-traffic areas)🤑

Pizza is America’s #1 food, with a market size of $155B and growing. Piestro will take its piece of the pie by selling kiosks AND operating its own units commercially – and you can get your piece of Piestro's piece of the pie, too! (Super meta, huh... but more on that later.)

🤯 Did you know?… Currently, pizza chains that serve pizza ‘hot and ready’ have to make huge sacrifices in ingredient quality to facilitate fast service. But with Piestro, restaurants will save so much money on labor they won’t have to compromise on quality!

Invest in Piestro today and get your piece of the pie... it's literally your last chance (the round closes tomorrow).

About 10% of Germans were between the ages of 15–24 last year, the lowest number since record-keeping began in 1950, according to government data published this week.

👥📉 More deets… Since 2005, Germany’s youth population has fallen steadily in both absolute number and overall share, with the sole exception being 2015.

• Young people now comprise ~10% of the country’s total population, putting it roughly on par with the EU average (10.6%). For context, the global average is ~16%.

🌍📸 Big picture: The number of people in the world is expected to virtually stop growing by the end of this century for the first time in modern history, due in large part to falling global fertility rates, per a recent Pew Research analysis of UN data. More than half of the global population growth between now and 2050 is expected to occur in Africa – and by 2100, the continent is projected to host five of the world’s ten largest countries.

+For us visual learners… 👇

• ☝️ A team of scientists recently captured video footage of this rare, tentacle-trailing sea creature that’s left experts wondering if it’s an entirely new species. (Fun fact: an estimated 80+% of the world’s oceans are still unexplored.)

BUSINESS & MARKETS

• 📉 Meta reported a yearly decline in quarterly revenue for the first time since going public in 2012.
• 🚫✈️ German carrier Lufthansa canceled over 1,000 flights yesterday due to a worker strike, affecting 134,000 passengers.
• 🏘️ US pending home sales fell 20% last month compared to a year ago, per new data from the National Association of Realtors. (Background)

SPORTS, MEDIA & ENTERTAINMENT

• 🎤 Beyoncé’s new album Renaissance was leaked two days early.
• 🛸 Rick and Morty season 6 will premiere on Adult Swim September 4th.
• 🏌️ The Saudi-backed LIV Golf League unveiled a new 14-tournament schedule for 2023 that features $405 million in combined prize money, up from eight tourneys and $225 million this year.

SCIENCE, SPACE & EMERGING TECH

• 🌾 Adding resistant starch to the diets of people with a higher chance of developing hereditary cancer can reduce that risk by more than 60%, per a new peer-reviewed study spanning 20+ years.
• 🚀 The global space economy grew at its fastest pace since 2014 last year to reach a record $469 billion, per a new report by the Space Foundation.
• 💊 The Justice Department has reportedly opened a criminal probe into whether Cassava Sciences manipulated research results for its experimental Alzheimer’s drug Simufilam. (Background)

EVERYTHING ELSE

• 🎰 The Mega Millions lottery jackpot is now over $1 billion for the third time in history after there were no winning tickets on Tuesday; the next drawing is tomorrow night; in related news, fast-food chain Raising Cane’s is buying tickets for all 50K employees for the second straight drawing.
• 💰 The Senate voted 64-33 to officially pass the ~$280 billion Chips and Science Act, which includes $52+ billion in subsidies for US chipmakers. (Background)
• 🏛️🤝 Sen. Joe Manchin (D-WV) announced a new deal with Senate Majority Leader Chuck Schumer on a ~$670 billion spending bill that addresses taxes, climate change, and healthcare. (From the Left | From the Right)
• 🧠 Postanly Weekly. Free curated tools for wealth, wisdom, and smarter living. Join curious people from Microsoft, Google, LinkedIn, Apple, and BBC who receive hand-picked long-form content on building a better, smarter, more fulfilling life. Subscribe for free.*

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💬 Quoted… ​​“We put a substantial proposal on the table.”

Secretary of State Antony Blinken revealed yesterday that the federal government has made an offer to Moscow to secure the freedom of WNBA star Brittney Griner and former Marine Paul Whelan, both of whom are currently detained in Russia.

• Per ABC News (which cited three internal sources), the US proposed a deal to swap convicted Russian arms dealer Viktor Bout for both Griner and Whelan.

🦠 Stat of the Day: One million people in Wuhan have been placed on lockdown this week after four new Covid cases were recorded in the Chinese city.

🤯 Did You Know?... Mountain Dew and Fresca are both banned in the EU and Japan due to the presence of brominated vegetable oil (BVO), which contains bromine. This element can build up in the body and potentially lead to memory loss or skin and nerve problems.

📖 Worth a Read: Hype? Hope? Hell? The Metaverse in 2040 → (Pew Research)

📊 Poll results: Yesterday, we asked what you all thought of banning Chinese companies from accessing US infrastructure, similar to measures in other Western countries.

• 77% of y’all would support a hypothetical ban, 10% would be against it, and 13% were unsure or had a more nuanced opinion.

See the full 360° view here.

✈️ Getting to your destination smoothly and safely = fun!🥳

Long layovers, uncomfortable seating, rooting through an unorganized carry-on = not fun.😐

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Many of you wrote-in over the past week, and we heard you loud and clear. This weekly section will continue to deliver the most outlandish, off-the-wall, and occasionally laugh-out-loud news stories of the week, as well as some hilarious or… curious synchronicities crowdsourced from around the world.

• Police say people pretending to play violin for money a 'nationwide issue' → (CW7 Kalamazoo)
• San Francisco man gets red zone parking ticket after curb was repainted while his car was parked → (ABC7)
• Filipino lawmaker wants ‘ghosting’ declared an emotional offense → (CNN Philippines)
• Polish institute classifies cats as alien invasive species → (AP News)
• Michigan woman sues man for $10k for standing her up on date, argues with judge → (USA Today)

CROWDSOURCED

Have you ever encountered a glitch in the matrix, quirky animal behavior, or even just a hilarious first grader? Tell us about it here for a chance to be featured in next Thursday’s newsletter.

👩‍🏫 Who: Ariel R. from Tucson, AZ

💬 The experience: I used to teach Sunday school for pre-kindergarten. One day, we were reading the story of David and Goliath. We had a nice picture book with matching action figures of David and Goliath to help keep the kids attention. After we finished reading the story, I asked the kids about the characters. When I asked them what David's name was, indicating with the action figure, one kid yells out, "Steve!” So of course everyone starts yelling that. So I told them, "no, his name is David." Then I asked about Goliath. To which I got the response, "the big guy" (To be fair, it's true). Again corrected them, talked a little bit more about the story, and then asked again later if anyone remembered the names… and of course the only answers I got were "Steve and Big Guy."

+Thought bubble: Steve and Big Guy Strike Back, Steve and Big Guy: The Reboot, The Adventures of Slingshot Steve and Big Guy… we’ve got ourselves an emerging franchise, y’all.

P.S. Don’t forget to share your odd or hilarious experience with us here.

When Annie the baby alpaca was rejected by her mother, owner Dannie Burns had to bottle feed her every two hours. 

• While it was a bit of a headache for Dannie, her decision led to Annie growing up more of a household pet than a farm animal.

Now two years old, Annie thinks of herself as more dog than alpaca. The spoiled pet even gets to ride in the car with her head sticking out the window, just like her labradoodle siblings.🚗 

🙏🏼 All in good time... Dannie is hopeful that Annie will eventually go join the rest of the alpaca herd once she has her own babies, but for now, she prefers to wear the hat of spoiled family pet. 

Rank all seven continents based on landmass, biggest-to-smallest.

• Asia
• Europe
• Antarctica
• North America
• Australia
• Africa
• South America

(keep scrolling for the answers)

👆 Check out the referral prizes you can get just for introducing people you know to little old us. 

What to do: Copy your unique link below, then send it to anyone you think would like the DONUT.

1. Asia
2. Africa
3. North America
4. South America
5. Antarctica
6. Europe
7. Australia