Good morning. What day is it today?

And when you’re done with this newsletter you should know:

• ⚖️ The many cases SCOTUS will be hearing this term
• 😋 Why Kellogg’s is entering its snacks era
• 🤔 The age of the youngest US pro athlete in history

… and more.

🚀⏰ Ready, Set, Go: Today’s news should be about a 4.71-minute read.

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“Comparison is the death of true self-contentment”

–John Powell (b.1963)

In yesterday’s DONUT Holes section, we mistakenly referred to the NFL’s Washington Commanders by their former name, the Redskins.

This is the 43rd correction out of the 442 newsletters we’ve published since January 2022.

The 2023-2024 term of the Supreme Court officially began yesterday. And, much like last term, it won’t be a boring one. 

Here’s a (non-exhaustive) list of hot-button issues SCOTUS will be tackling:

• Guns: At issue is a 5th Circuit Court decision invalidating a federal law that bans the possession of guns for anyone who’s the subject of a domestic violence restraining order.
• Voting rights: SCOTUS will be weighing in on voting rights, including a case that tests what the NAACP calls "racial gerrymandering" in South Carolina and the state calls "partisan gerrymandering," per NPR. Under the court's prior decisions, racial gerrymandering is unconstitutional but partisan gerrymandering is not.
• Social media: Two topics will be in front of the Court this session: 1) the issue of online content moderation + free speech and 2) whether public officials are legally allowed to block constituents’ accounts on social media.
• Federal agencies’ ability to enact regulations: The Supreme Court this term will consider overturning the Chevron deference, which would take a sledgehammer to executive agencies’ wide authority to enact regulations, per The Hill. The doctrine has been in place nearly 40 years, and provides that when Congress is silent or vague on an issue, courts must uphold agencies’ actions if they’re based on a reasonable reading of the statute. Separately, SCOTUS justices will also decide whether the Consumer Financial Protection Bureau’s funding mechanism is constitutional.
• Purdue Pharma’s opioid settlement: The Supreme Court previously blocked the company’s $6 billion bankruptcy settlement, which granted Purdue’s former owners (the Sackler family) immunity from civil suits related to the opioid crisis.
• Abortion (most likely): The Court should soon be hearing a case tied to access to mifepristone, the pill that accounts for more than half of the abortions in America today. It was first approved by the FDA in 2000 and then approved in 2021 for safe use via telemedicine and by mail – but a 5th Circuit Court decision overrode key portions of the FDA approval. The case was sent by SCOTUS back to the 5th Circuit for further action, but seems all but certain to return to the justices soon.
• Healthcare + transgender students (most likely): At least 21 states have enacted laws banning hormone therapy, surgery or other forms of care for minors, and there’s a split among the lower courts as to whether such bans are constitutional.

👀 Looking ahead… It doesn’t appear SCOTUS’ term is set up to bring the country together – in fact, the opposite is much more likely.

In 2020, ~50% of both Republicans and Democrats approved of the court’s performance. But Gallup recently found that 56% of Republicans approve of the court, compared with 40% of independents and 23% of Democrats.

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🇦🇹 Austria is turning Adolf Hitler’s birthplace into a police station. The building has been rented by Austria’s Interior Ministry since 1972 to prevent its misuse, and was sublet to various charitable organizations over the years. A memorial stone erected in 1989 with the inscription “For freedom, democracy and liberty. Never again facism. Millions of dead remind us” will remain in front of the building, while the rest will be demolished and replaced by a police station, a district police headquarters, and a human rights academy.

🇮🇩 Indonesia launched the first bullet train in Southeast Asia. The new Whoosh high-speed railway travels from the capital city of Jakarta to Bandung, or “Indonesia’s Silicon Valley,” in roughly 40 minutes – more than 3x faster than previous rail options (fun fact: it travels at 217 mph). The $7.3 billion project was largely financed by China’s Belt and Road Initiative, which aims to connect Asia, Africa, and Europe through land and sea networks by 2049.

🇺🇳🇭🇹 The UN is sending troops to Haiti. The UN Security Council agreed to deploy a troop of Kenyan-led soldiers to Haiti for 12 months after repeated calls for military assistance to help fight violent gangs, which have strengthened their grip on the country since the 2021 assassination of President Jovenel Moïse. Haiti hasn’t held any municipal, legislative, or parliamentary elections in years, leaving the country without a single democratically elected government official.

Kellogg’s finalized its planned stock split yesterday, officially dividing the company into two publicly traded businesses:

• WK Kellogg Co: This biz houses the Kellogg’s cereal brands regularly associated with Saturday morning cartoons, including Frosted Flakes, Froot Loops, and Rice Krispies. The name is an ode to the company’s founder, William Keith Kellogg.
• Kellanova: This side houses all the company’s snack brands, such as Cheez-It, Pringles, and Pop-Tarts, as well as its plant-based food business Morningstar.

Execs first announced the planned split in June 2022, due to cereal sales stagnating and their belief the market wasn't properly valuing the company’s fast-growing snacks business.

Put another way: cereal = a slow-growth area; snacks = a fast-growth area. The global snack food products market size was valued at ~$585 billion in 2022, and is projected to reach ~$839 billion by 2029.

But that type of growth could be in jeopardy. As major food brands are making bets on the snacks industry – J.M. Smucker also recently bought Twinkie maker Hostess Brands for $5.6 billion to expand its snack lineup – the use of anti-obesity drugs like Wegovy and Ozempic is rising, which could negatively impact the market.

Research from Morgan Stanley indicates the number of patients taking anti-obesity drugs could reach ~7% of the US population by 2035. And if that occurs, consumption of baked goods and salty snacks could fall 3% – or even more if the new eating habits of the people using the treatments extend to their broader households and friends.

💬 Quoted… “We need to get our house in order.”

In a Bloomberg interview published yesterday, Airbnb CEO Brian Chesky said the company is focused on improving three core aspects of its business: 1) ensuring that residences listed on Airbnb are consistent and reliable, 2) enhancing customer service, and 3) providing more affordable options for consumers.

• In pursuit of this goal, Chesky said his team read 15,000 social media posts and analyzed tens of millions of customer service complaints to ​​create a “hit list” of necessary improvements, including increased price transparency and a crackdown on fake listings.
• Airbnb has already rolled out 50+ of these new changes so far this year, with more scheduled to take effect next month.

🍟🚗 Stat of the Day: The average time spent in a US drive-thru decreased by 29 seconds this year compared to last, largely due to a more than 2x decrease in the average number of cars in line, per Intouch Insight’s annual drive-thru study.

🤔 Did You Know?... More than 1 in 10 French households experienced bedbugs at some point between 2017 and 2022 (11%), per a recent government study. Local officials in Paris are currently attempting to address the issue before the 2024 Summer Olympics come to town – so its visitors can sleep tight and not let the bedbugs bite.

📰 Worth a Read: The plastic-eating bacteria that could change the world → (The Guardian)

October is National Women’s Small Business Month. And what better way to support female business owners than shopping at The WMarketplace? 

Solely featuring women entrepreneurs, The WMarketplace is dedicated to empowering women in business with a one-stop shop for fantastic products and services.

Check out these excellent women-owned brands:

• 💍 Gorgeous one-of-a-kind jewelry from Rose and Clay Earrings
• 🧼 Luxury spa baskets from Pure Spa Gifts
• 🎍 Plant-based dinnerware from Bambu

🛍️ Shop your values! Every purchase made on The WMarketplace directly supports and uplifts women entrepreneurs, so you’ll be making a difference while discovering your new favorite products. Plus, shipping is included in every price.

Shop real, women-owned brands today at TheWMarketplace.

• ☝️ The MLB regular season officially concluded on Sunday; Wild Card playoff action kicks off later today with a four-game slate starting at 3 pm ET.

BUSINESS & MARKETS

in partnership with moomoo

• 💰 US markets closed mixed (S&P: +0.01%; Dow: -0.2%; Nasdaq: +0.7%). | 📈 Sphere Entertainment shares closed up 11% following the successful opening weekend of its new Las Vegas concert venue.
• 🔋 Rivian reported record Q3 EV deliveries yesterday, and said it’s on track to produce 52,000 EVs in 2023. | 🪫 Tesla reported 7% fewer EV deliveries in Q3 compared to the previous quarter, but retained its target to deliver 1.8 million vehicles this year.
• 📅🤖 JPMorgan CEO Jamie Dimon predicts the next generation of Americans will have a 3.5-day workweek thanks to future advances in AI.

*From our partners: 🏆 Voted “Best Trading Platform” in 2022 by Fintech Breakthrough… Moomoo provides users with powerful tools, 24/7 live support, and $0 commission US stock trading*. Sign up for a brokerage account on moomoo and deposit to get up to 16 free stocks.**

SPORTS, MEDIA & ENTERTAINMENT

• ⚽ 13-year-old Da'vian Kimbrough became the youngest person to play for a US pro sports team when he came off the bench for the Sacramento Republic soccer team on Sunday.
• 🎤 The Foo Fighters announced a 2024 North American tour starting next July.
• 🏈 Monday Night Football: The Seahawks defeated the Giants by a score of 24-3 behind a MNF-record 11 sacks.

SCIENCE, SPACE & EMERGING TECH

in partnership with EnerHealth

• 🏆💉 A pair of scientists – Hungarian-American Katalin Karikó and American Drew Weissman – were awarded the Nobel Prize in Medicine yesterday for research that laid the foundation for mRNA Covid vaccines.
• 🛰️ The BlueWalker 3 satellite, aka largest commercial antenna system ever deployed to low-Earth orbit, is currently one of the brightest objects in the night sky, per a new study published in Nature; the study’s authors called the satellite “unacceptably bright for many sky observers.”
• 🪐 NASA’s Mars Perseverance rover recently captured footage of a 1.2-mile-high dust devil sweeping across the red planet.

*From our partners: 🍂🤤 It’s hot cocoa season… and Cocoa Mojo from Enerhealth features six medicinal mushrooms to give your immune system a healthy boost. Made with delicious Peruvian cocoa and no mushroom taste, guaranteed. Use code DONUT25 and save 25% on EnerHealth.

MISCELLANEOUS

• 🗣️ Georgia’s thick southern accent is robust among baby boomers but significantly less noticeable in Gen X and later generations, per a new University of Georgia study.
• 🏛️ Rep. Matt Gaetz (R-FL) officially introduced a motion to remove House Speaker Kevin McCarthy (R-CA) from his leadership position after the House passed a stopgap measure aimed at avoiding a government shutdown. (From the Left | From the Center | From the Right)
• 🪑 Laphonza Butler, president of EMILY's List, will fill the US Senate seat previously held by the late Dianne Feinstein, California Gov. Gavin Newsom announced yesterday. (From the Left | From the Center | From the Right)

CLICKBAIT

• 🤖🐺 These robot wolves are fending off bears in Japan.

Yesterday, we covered Congress’ bipartisan stopgap funding bill to temporarily avoid a government shutdown, which left out $6 billion in US government aid to Ukraine.

❓ Our question to you: Do you agree with House Speaker McCarthy’s decision to cut $6 billion in Ukrainian aid from the stopgap government funding bill?

• 👍 Yes: 50%
• 👎 No: 38%
• 🤷 Unsure/other: 12%

Click here to read some of the best responses.

+Note on sample size: We received 11,591 votes and 1,289 longform responses.

Shrek's Swamp is available for one lucky booking on Airbnb this Halloween season – and they promise the ogre won't make a grumpy appearance (he's probably off on a quest or whatever).

🧅 The details... The listing is hosted by Donkey himself, and includes access to Shrek's iconic swamp house located in the highlands of Scotland. "This mud-laden, moss-covered, murky-watered oasis is a perfectly snug spot to escape from village life and embrace the beauty of nature," reads the listing.

• The Airbnb is available as of October 13th for the price of completely free – it'll book on a first-come, first-serve basis for up to three guests from October 27-29.

❓ Trivia: Who is the Greek goddess of harvest and agriculture?

🍬 True or False?... Butter Rum was the first flavor of Lifesavers candy.

🤔 Riddle Me This… What is special about the number 854,917,632?

(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 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: Demeter

🍬 T/F: False, it was Pep-O-Mint

🤔 Riddle: It’s the numbers 1-9 in alphabetical order

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