Good morning. Judging by the comments we received on yesterday’s story about Instagram’s Reel problem, it seems like the company made a good call to walk back many of its planned TikTok-like features.

Which has to be the corporate version of a post with the caption: “Feeling good, might delete later.”

In today’s edition:

• 🗳️ Midterms are officially underway
• 💊 A promising new cancer treatment
• 🤔 What’s America’s median household income?

… and more.

🚀⏰ Ready, Set, Go: Today’s news takes 3.75 minutes to read.

"The only lasting truth is change."

–Octavia E. Butler (1947-2006)

In Monday's Dose of Discussion regarding the legality of President Biden's student loan forgiveness plan, the 360° view of what the media is saying didn't get published. You can read it here; apologies for the poor experience.

• We had actually planned to run this section in yesterday's email, but were still dealing with the same technical issues causing the problem mentioned above. 

Computers... sometimes you love 'em. Sometimes you hate 'em. 

The first mail-in ballots for the November midterms were sent out to North Carolina residents in recent days, while the final two primaries of the 2022 election cycle were held in Delaware and New Hampshire yesterday.

🏛️🗳️ A deeper dive… All 435 House seats are up for election, as are 35 Senate seats – 14 currently held by Democrats, and 21 by Republicans. The GOP only needs to flip one seat to win back the Senate, and four seats to gain control of the House.

Take a peek at the primary results and midterm election previews for all 50 states here.

☝️ What do the polls say?... Republicans and Democrats have been locked in a dead heat on a generic congressional ballot for the past several weeks, per data from RealClearPolitics. Meanwhile, FiveThirtyEight projects there’s a 29% chance Republicans take control of the Senate, and a 73% chance the GOP wins back the House (down from 36% & 77% when we last covered the midterms a month ago).

• Historically, a first-term president’s party usually suffers some losses in the midterms – especially when that president is as unpopular nationally as Biden, who’s currently hovering around 43% job approval (up 3% from last month).

📊 Flash poll: If the midterms were held today, which Congressional candidate would you vote for?

The Republican one

The Democratic one

One from a third party (Libertarian, Green, etc.)

Who votes anyways? (OR our under-18 folks)

I haven’t made up my mind yet

The Consumer Price Index (CPI), America’s most widely-used measure of inflation, rose 8.3% in August from the same month a year ago, the Labor Department reported yesterday. That’s down from 8.5% in July and 9.1% in June, which was the highest rate in 40 years.

On a month-to-month basis, the CPI rose 0.1% in August. Which surprised a majority of economists, who had predicted inflation would decrease by that same amount.

🧐 A deeper dive… The highest monthly price increases were seen in the food (+0.8%), medical care (+0.8%), and shelter (+0.7%) indexes – though these were mostly offset by a 10.6% decline in gas prices.

• The core CPI, which excludes often volatile energy and food prices, rose 6.3% in August compared to the previous year, up from 5.9% in both June and July. Core inflation increased 0.6% on a monthly basis, double July’s pace.

👀 Looking ahead… The Federal Reserve’s policy-making committee is expected to raise interest rates by 0.75%-1.0% when it meets next week in a bid to tame inflation.

+The market reacts: All three major US indexes decreased sharply when trading officially began this morning, exactly an hour after the CPI was released. Stocks continued to slide throughout the day, eventually submitting their worst performance since June 2020. (Dow: -3.9% | S&P: -4.3% | Nasdaq: -5.2%)

It may not be a stretch to say that everyone reading this has been impacted by cancer somehow – be it through a friend, family member, spouse, etc. The disease is currently the second-leading cause of death in the US, killing ~600,000 people annually.

This morbid intro does have a point, and here it is: we may have a cancer treatment that performs better than chemo, per new data presented on Monday at the European Society for Medical Oncology Congress in Paris.

💊 More deets… The key word here is “may.” The drug in focus, Lumakras, a KRAS-inhibiting concoction, was shown in a randomized controlled trial to be more successful at halting the spread of cancer than chemo – and with less serious side effects.

• In all, 25% of the patients taking Lumakras in the study lived for at least one year without their cancers getting worse, versus 10% of patients who received the chemotherapy docetaxel.

But, life being life, the new drug has a couple trade-offs: 1) it’s muuuuch more expensive than chemo ($17,900/month vs. $1,700/month) and 2) it wasn’t proven successful at extending a cancer patient’s lifespan. Though to be fair, the trial data on this is kinda murky since patients in the chemo group were allowed to take Lumakras, or a similar treatment, if their tumors got worse. In fact, about one-third actually ended up doing so.

🏛️👀 Looking ahead… Despite the murkiness around lifespan extension, Lumakras’ shown advantage over chemo should be enough to garner full FDA approval, the WSJ reports.

🏡 There’s nothing like being able to put your own personal flavor into your home/business. But DIY can be a lot of hassle to find the time, get the tools, and actually execute the project.

Some things are better left to the pros, and if you’re located in Austin, Texas, and want to give your home or business some custom flair, Petrified Design is the expert.

🪵 Petrified Design is the trusted choice for residential and commercial buildouts and custom furniture for Austin residents. Their team of designers, woodworkers, and craftsmen thoughtfully execute every project to ensure quality and longevity. (See their project gallery.)

🤠 What makes Petrified Design unique is the use of modern design to enhance the natural characteristics of wood and materials, a style dubbed “Texas Modern." It’s a great way to enhance the character of any location with a custom buildout or furniture.

Upgrade the aesthetic of your home/business today with Petrified Design.

Apple plans to show new ad “placements” to consumers around the holiday season, according to a message sent to developers yesterday and confirmed to CNBC.

📈 Apple → Ad-ple… The company didn’t give many details about the exact location of its new placements. But it comes at a time where Apple is making a concerted push to expand its ads business.

The company currently generates $4 billion/year in advertising revenue, and, according to a recent report by Bloomberg’s Mark Gurman, it wants to pump those rookie numbers up to double-digits.

• This means ads are likely also coming to Maps, Books, and Podcasts. And let’s not forget the potential for Apple TV+ to follow Netflix, Disney, and Warner Bros. Discovery by adding another subscription tier containing ads.

📱🥊 Zoom out: Last year, Apple launched app tracking transparency, or ATT, a feature designed to stop third-party apps from tracking you across other apps and websites. The company says 78% of users have opted-in.

But this means Apple’s move to build out its ad business has many folks – like Meta and Snap – channeling Alanis Morisette’s “Ironic,” given the obvious business advantages associated with introducing ATT in parallel. In fact, Meta estimates it’ll take a $10 billion revenue hit this year alone as a direct result – though other analyses put that figure even higher.

💬 Quoted…​​ “It’s not far-fetched to say that an employee inside the company could take over the accounts of all of the senators in this room.”

Peiter Zatko, Twitter’s former security chief, testified before the Senate Judiciary Committee yesterday, marking his first public comments since his whistleblower complaint was made public last month.

• Over the course of his 2+ hour testimony, Zatko alleged that Twitter was “10 years behind” industry data security standards, had a freewheeling approach for allowing employees to access user data, and prioritized profits over addressing security concerns.

+In other Twitter news: The company’s shareholders formally approved Elon Musk’s $44 billion acquisition offer, which represents a ~30% premium on Twitter’s closing stock price.

🏠💰 Stat of the Day: The median US household income in 2021 was $70,800, per new census figures published yesterday, down slightly from $71,200 the previous year.

🌎 Around the World: Chinese President Xi Jinping and Russian President Vladimir Putin are set to meet in Uzbekistan later this week, marking their first in-person meeting since Russia’s invasion of Ukraine began in late February.

🤯 Did You Know?... A typical airplane (think, Boeing 747) gets ~0.2 miles per gallon, which averages out to between 50 MPG and 100 MPG per passenger.

📖 Worth a Read: The Billionaire Hedge Fund Manager Disrupting NFL Analytics → (WSJ)

• ☝️ The Detroit Auto Show returns this week following a three-year absence; President Biden is scheduled to give a speech at the event later today.

BUSINESS & MARKETS

• ☕ Starbucks unveiled plans to spend ~$450 million on new equipment that’ll reportedly cut the time it takes to make a Frappuccino by almost a third, make a cup of coffee in 30 seconds, and reduce time to cook food.
• 🚚 Speaking of $450M… Amazon announced plans to invest that amount in wage increases and other benefits for its delivery drivers ahead of the holiday season.
• 🚘 Chrysler will end its 300 sedan line after a limited edition V-8 model comes out later this year.

SPORTS, MEDIA & ENTERTAINMENT

• 🥽 Meta’s Quest Pro VR headset was inadvertently leaked after someone left a premarket sample in a hotel room; the headset was supposed to be unveiled at an event next month.
• 👨‍🔬 The premiere of Rick and Morty Season 6 is now available on YouTube for free.
• 🏀📺 The Harlem Globetrotters are returning to TV for the first time in more than 40 years, in a weekly show on NBC hosted by Craig Robinson (of The Office) starting October 1.

SCIENCE, SPACE & EMERGING TECH

• 👶💤 The best way to soothe a crying baby to sleep is by taking them for a walk in your arms, while the best way to get babies to stay asleep is by sitting for five minutes before laying them down in bed, per a new peer-reviewed study published in Current Biology.
• 🕑🍴 The timing of your meals can alter your mood, per a new small-scale study that found increases in depression and anxiety among those who eat at odd hours.

EVERYTHING ELSE

• 🏛️ Abortion news: West Virginia’s legislature passed a near-total abortion ban yesterday; Sen. Lindsey Graham also proposed a 15-week national abortion ban, though it isn’t expected to come to a vote. (From the Left | From the Center | From the Right)
• ⚖️ The DOJ has issued ~40 subpoenas over the past week to White House staffers and officials who served under former President Trump as part of its investigation into efforts to overturn the 2020 election, including Jan. 6. (From the Left | From the Center | From the Right)

🚺 The WMarketplace was cause-driven in its inception and in all its operations. All products and services support female entrepreneurs, but The WMarketplace is especially committed to giving a platform to women-owned businesses that support causes.

Businesses like Buttercup & Joy, which makes handcrafted bracelets accompanied by inspirational messages and donates 10% of all proceeds to the National Alliance on Mental Illness. You can read more about how Buttercup & Joy got started here.

The WMarketplace has no minimum order amount, no membership fees, and shipping is included in every price.

Support the causes important to you at The WMarketplace.

Quick recap: In this section, we’re aiming to crowdsource details about epic trips – then provide the whole playbook for the experience to y’all.

• Have you ever gone on an epic, once-in-a-lifetime trip? Tell us about it here.

🚶‍♂️ Who: Stephanie P. from Windsor, CO

☀️ Length of trip: 5 days

💬 Quick recap: We had the best time at Schlitterbahn and floating the Comal. We went to Schlitterbahn on Thursday and got the splash passes, rode everything multiple times. Saturday we floated the comal and went to The Float In and they were wonderful. Went to Whitewater Music Amphitheater for Parker McCollum concert. Shopped in San Marcos at the outlets. It was perfect!

🤔 Want to learn more?... Dive deeper into Stephanie's must-dos, must-don'ts, and trip expenses here.

P.S. Have your own epic trip you’d like to share? Tell us about it here for a chance to be featured in next Wednesday’s newsletter.

☝️ Meet Wally, the world's first legally-registered emotional support alligator. 

Wally was adopted by owner Joie Henney six years ago after being removed from a Florida lagoon.

• Having been a reptile rescuer for over 30 years, Joie agreed to take Wally in to save him from euthanasia. He never would have predicted the little reptile would become his very best friend. 

🐊 Gator hater lover... Joie was going through a rough patch in his own life when he adopted Wally, greiving the loss of multiple people close to him. Wally ended up being the exact companion he needed during that time. 

• When Joie began cancer treatments, he got Wally officially registered as an emotional support animal. As far as he knows, Wally's the only alligator with the title in the world.

❓ Trivia: What's the largest feline?

🪳 True or False?... Cockroaches have two brains.

🤔 Riddle Me This: What has many keys, but can’t open any doors?

(keep scrolling for the answers)

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

What to do: Copy your unique link below, then send it to anyone who you think would like the DONUT. Once you hit each milestone, you'll get an email with a link to claim your prize. (Pro tip: there's no need to ration points, you're entitled to a prize at each tier.)

Start referring.👇

❓ Trivia: Tiger

🪳 T/F: True – one in their head, and one in their abdomen

🤔 Riddle: A piano