Good morning. Huge news today! We just heard from the International Nickname Administration (INA) that The DONUT has been approved to create a sweet nickname for our readers, aka YOU!

We’ve had some good ideas, but this isn’t about us. It’s about you. So here’s what we’re gonna do:

1. Reply to this email with any and all nickname ideas you have for what The DONUT readers shall heretofore be called.
2. We’ll pick the best ones, then circulate a poll so you can all vote on a winner.
3. The winning nickname will be announced at INA 2023 in Tallahassee (and also in an upcoming newsletter).

We know you’re probably freaking out, so take a moment to collect yourselves (and your belongings), cuz, yep, it’s definitely THE NEWS.

🚀⏰ Ready, Set, Go: Today’s news takes 4.86 minutes to read.

"Live as if you were to die tomorrow. Learn as if you were to live forever."

–Mahatma Gandhi (1869-1948)

Amazon is reportedly exploring acquisition plans for AMC Entertainment, the largest theater chain in the world. According to sources familiar with the matter, the tech giant aims to use AMC's nearly 1,000 locations across the US, Canada, and the UK as "marketing weigh stations" to promote the 12-15 movies Amazon Studios has committed to releasing in theaters each year.

Though analysts say the deal is very unlikely to go through, it does raise the question: why aren’t more studios buying their own theaters?

The answer is simple: because until a few years back, they literally couldn’t.

⏮ Let’s rewind the tape… to 1917, ten years before “talkies” began replacing silent films, when studios began purchasing theaters. By 1930, five major studios owned 17% of all theaters across the country.

But 17% isn’t that much, right? Well, if the studios hold their movies from playing in any other theaters, then it certainly can be. And so it was – that 17% of theaters accounted for ~70% of box office receipts for first-run movies.

• This, for the other 83% of theaters (especially the mom and pop independents), was sort of a big bummer. So the indie theaters sued the studios and won in 1948 – when the Supreme Court established the Paramount consent decrees, banning major studios from owning and operating movie theaters.
• Though as modern poets, The Five Maroons, once said, “nothing lasts forever.” In 2020, a federal judge in the Southern District of New York ended the decrees, claiming they’d “served their purpose and… may actually harm American consumers by standing in the way of innovative business models for the exhibition of America's great creative films.”

👀 Looking ahead… The theatrical landscape could soon be dominated by tech giants with streaming platforms. A24 bought the Cherry Lane Theatre in NY a few weeks ago, and Netflix purchased LA’s Egyptian Theatre in 2021 (plus Apple has already committed $1 billion/year towards theatrical releases).

🇧🇯🎶 Singer-songwriter Angélique Kidjo, who hails from Benin, became the third African artist to win the annual Polar Music Prize. The award is often called the “Nobel Prize of music,” with past winners including Paul McCartney, Elton John, Bruce Springsteen, Stevie Wonder, Björk, and Sting. Alongside Kidjo, the 2023 Polar Music Prize was also awarded to Chris Blackwell, founder of Island Records in the UK, and Arvo Pärt of Estonia, the world’s most-performed living composer.

🇸🇾 Relatives of Syrian President Bashar al-Assad were sanctioned by the US and UK in relation to their alleged vast drug empire. Two of al-Assad’s cousins and four other individuals were blocked from owning any assets in the US or UK, with officials from both countries accusing them of helping manufacture and export a highly-addictive amphetamine called captagon. UK authorities estimate the captagon drug trade is worth up to $57 billion to the Syrian regime, a figure that’s about four times the entire country’s GDP, and three times as much as “the combined trade of the Mexican cartels.”

🇨🇳 The Chinese government allegedly used the names of three anti-China activists to call in fake bomb threats around the world. Per Axios, the personal information of a Germany-based journalist, a Chinese dissident, and a Texas pastor – all of whom had publicly criticized Beijing – were used to call in at least 14 fake bomb threats at luxury hotels across Europe, the US, and the Middle East in recent months. The threats, placed by anonymous perpetrators that had checked into the hotels under one of the three names, resulted in several police investigations and the brief arrest of one of the activists.

🎯 Let’s be direct – would letting our beloved pets have a little comfort and class by not eating off the floor be so bad? The angle animals usually eat from is associated with poor digestion and throwing up after meals… just imagine eating every meal lying down with the plate on your chest!

⚖️ Hence the raised feeder… which delivers a better angle for digestion, and also means less strain on your furry pal’s back and joints. All this while promoting healthy posture, something especially great for older dogs with arthritis/sore muscles.

If you feel a raised feeder could be the next step to improving your BFF's quality of life, our friends at Katio Dogio have got you covered….

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Give your pet the dining experience they deserve with a Doggy Diner/Kitty Kafe.

If life is a highway, America just passed another renewable energy mile marker. According to new data published this week by the US Energy Information Administration, the US generated more electricity from renewable energy sources than coal last year for the first time in history.

📝 A breakdown… From 2021 to 2022, the overall share of US electricity generated by coal decreased three percentage-points to 20%. Electricity from renewable sources – including wind, hydro, solar, and geothermal – rose by two percentage-points over the same period to reach 21% of all US demand.

• Natural gas usage, which emits about half as much CO2 and methane as coal, also increased by two percentage-points to comprise 39% of US electricity generated in 2022, while nuclear power fell slightly to 19%.

☀️💨 Big picture: Over the past ten years, wind and solar power have gotten a makeover rivaling She’s All That – and now they’re that bish. Declining costs (the average US price for electricity generated by wind and solar has fallen by 70% and 90% over the past decade respectively), combined with a nationwide effort to switch from coal have made windmills and solar panels much more attractive.

And it doesn’t look like coal is getting a future revenge arc either. A January 2023 study found it currently costs more to operate nearly all existing US coal plants than it would to replace them with wind or solar projects.

Good news: you haven’t just been imagining seeing more Insta bios with “wanderlust” in them.

The US State Department is currently receiving more than 500,000 applications for new or renewed passports every week. That level of demand is “unprecedented,” Secretary of State Antony Blinken revealed in a House hearing late last week, and about 40% higher than the previous all-time record set last year (a jump that can only be explained by Flubber).

🤔 What’s behind the recent surge in demand?... Somehow, not Flubber. Many experts attribute America’s increased appetite for travel to two main reasons:

1. More Americans are now able to mix business with vacation due to the increased popularity of remote work.
2. After Covid restrictions were lifted around the world, people have been “revenge traveling” – a newly-coined term that refers to booking more trips as a way to make up for lost time during the pandemic. (Coal may not be getting a revenge arc, but it seems those with wanderlust sure are.)

👀 Looking ahead… The State Department has warned summer travelers that it’ll likely take longer than the typical 10 to 13 weeks for new or renewed passports to be issued, should they apply within the next few months.

💬 Quoted… “An out-of-control race to develop and deploy ever more powerful digital minds that no one – not even their creators – can understand, predict or reliably control.”

How an open letter, signed by more than 1,000 tech leaders, researchers, and experts including Elon Musk, Bill Gates, and Steve Wozniak, framed the ongoing development of artificial intelligence. The letter went on to call for an immediate six-month pause in the development of AI systems more powerful than OpenAI's newly launched GPT-4.

• If a consensus can’t be reached among private companies, the letter urges world governments to step in and implement the AI moratorium instead.

⚾ Stat of the Day: To those of you playing hooky to attend Opening Day, prepare to shell out a pretty penny. The average cost for four adults to see a live Major League Baseball game last year, including tickets, parking, and food, was $256.

🤯 Did You Know?... Earth is the only known planet with enough oxygen for fire to exist. The two most important parts of the band Earth, Wind & Fire have finally been revealed.

📖 Worth a Read: What old sitcoms reveal about America’s rising cost of housing → (The Hustle)

🎮💰 With a Mana Pro debit card, you get 5x rewards points for gaming/streaming subscriptions, 3x for gaming purchases, and 1x for everything else. You also get points for playing games like LoL and Clash Royale.*

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Mana Pro costs $119.95/yr, and it includes a year subscription of SurfShark VPN (a $60 value)... and that's only part of the $540 in value you get for signing up. It also includes:

• Discord Nitro Classic 1-yr ($50)
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🍩😎 Still on the fence? Save an additional $20 off Mana Pro for a limited time with code DONUT.

Learn more about Mana Pro.

• ☝️ You’re looking at some of the winners of the Smithsonian Magazine’s 20th Annual Photo Contest; this year’s competition featured a total of 33,000 images submitted by 7,000 photographers from 190 different countries.

BUSINESS & MARKETS

• 💰 US markets closed up across the board yesterday (Dow: +1.0%; S&P: +1.4%; Nasdaq: +1.8%).
• 🏛️🏦 The White House may recommend stricter rules for midsize banks as soon as this week; the move comes nearly three weeks after the collapse of SVB and Signature Bank.
• ☕ Starbucks’ now thrice-former CEO Howard Schultz testified before Congress yesterday regarding the company’s alleged anti-union efforts.

*🔢 $9 million in previous investments. $600 million in revenue via letters of intent. 90% carbon footprint reduction vs helicopters. And one last number: $582 billion = the projected global commercial drone market size by 2030, Parallel Flight Technologies is poised to capitalize. Learn how to invest in the future of first response with Parallel Flight Technologies.**

SPORTS, MEDIA & ENTERTAINMENT

• 🎧📱 Apple revealed yesterday that WWDC, its annual developers conference, will be held from June 5-9; some analysts believe the tech giant will unveil its VR/AR headset.
• ⚾ MLB Opening Day is today; the first pitch of the season is set for 1:05 pm ET.
• 🎥🌌 Wes Anderson released the trailer for his latest film, Asteroid City, yesterday; the film stars Tom Hanks, Scarlett Johansson, Bryan Cranston and just about every other famous person in Hollywood.

SCIENCE, SPACE & EMERGING TECH

• 🎨 Physicists at the University of Central Florida recently invented what they say is the lightest paint in the world; ex: if applied to a Boeing 747, it would reportedly cut the total weight attributed to paint from 1,100 pounds to just three😳.
• 🦑 UC Irvine scientists have successfully replicated the camouflage properties of squid skin cells in human cells; it’s currently not possible to grow squid skin cells in a lab, so the breakthrough will allow the study of precise mechanisms behind the animal’s unique camouflage ability.
• ✅ The FDA approved the first over-the-counter version of the opioid overdose antidote Narcan.

EVERYTHING ELSE

• 🏛️ The Senate voted yesterday to repeal two Authorizations for Use of Military Force from 1991 and 2002 that represented the legal justifications for the Gulf War and Iraq War.
• 🇹🇼🇻🇦 ​​Taiwan President Tsai Ing-wen landed in New York yesterday for her first visit to the US in over three years; also yesterday, Chinese officials threatened unspecified retaliation if Tsai follows through on a planned meeting with House Speaker Kevin McCarthy next week. | Pope Francis has been hospitalized with a respiratory infection.
• ⚖️🏛️ Former VP Mike Pence must appear before a grand jury investigating efforts to overturn the 2020 election on January 6th, per multiple reports regarding a sealed federal judge ruling this week. (From the Left | From the Center | From the Right) | The NY grand jury investigating potential hush-money payments by former President Trump’s 2016 campaign will be on break for the next month, per Politico. (Background)

CLICKBAIT

• 🚫 Never use these 2 words when giving an apology – they make you sound ‘fake and insincere,’ say experts.

*Sponsored post

Yesterday we covered comments from the CEO of facial recognition company Clearview AI about how police departments across the US are using the firm’s software to run searches as part of their criminal investigations.

❓ Our question to you: In your opinion, widespread use of facial recognition technology by police would be a _____ for society.

• 👍 Good idea: 12%
• 📈 Mostly good idea: 32%
• 📉 Mostly bad idea: 18%
• 👎 Bad idea: 16%
• ↔️ Change that has no effect: 12%
• 🤷 Unsure/other: 10%

Click here to read some of the best responses from yesterday’s poll.

+Note on sample size: We received 9,294 votes and 815 longform responses.

We bring you the most unusual, off-the-wall, and occasionally laugh-out-loud headlines from this week.

• Driver tries to use ‘Get Out of Jail Free Card’ during traffic stop → (KMSP Minneapolis)
• Dad Accidentally Orders 60 Pairs of Reading Glasses Because He Couldn’t Read A Website → (10 Play)
• TSA stirs debate after ruling peanut butter as a liquid → (ABC7 NY)
• Potatoes are better than human blood for making space concrete bricks, scientists say (Space.com)

Scooter's Coffee in Omaha, Nebraska, is celebrating its 25th anniversary in a record-breaking way. Their team of bakers successfully created the world's largest cake ball to honor the special occasion. 

🧑‍🍳 A piece of cake... The 848-pound birthday-themed cake ball was unveiled at its annual Grow Conference held at the CHI Health Center.

• “It took a lot of planning, a lot of errors, a lot of failure," shared manager Kevin Mosher. "But we all came together. We have a great team at Scooter's. My bakery team is the best!"
• Any leftovers from the huge cake ball will be donated to the Saving Grace Perishable Food Rescue.

Which US state flag, pictured above, is the only one that's not rectangular?

(keep scrolling for the answer)

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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.)

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Ohio

**The Parallel Flight sponsor block was written and/or published as a collaboration between The DONUT's in-house sponsored content team and a financial partner of The DONUT. Although the piece is not and should not be construed as editorial content, the sponsored content team works to ensure that any and all information contained within is true and accurate to the best of their knowledge and research. The DONUT may receive monetary compensation from the issuer, or its agency, for publicizing the offering of the issuer’s securities. This content is for informational purposes only and is not intended to be investing advice. This is a paid ad. Please see 17(b) disclosure linked in the campaign page for more information.