Good morning, and welcome back. In this edition:

• 🗳️ Elon Musk wants to form a new political party
• 🙏 Texas flood update
• 📝 New JFK assassination info

…and much more.

Ready, Set, Go: Today’s news should be a ~4.08-minute read (1,084 words).

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"No great discovery was ever made without a bold guess."

–Sir Isaac Newton (1643-1727)

On Saturday, Elon Musk declared his intent to create a new major US political party to compete with Democrats and Republicans in elections starting next year.

Driving the move: The world’s richest man said his new “America Party” is a direct response to President Trump signing his tax-and-spending megabill into law this weekend, which Musk has framed as a “disgusting abomination” that would “massively increase the already gigantic budget deficit.”

• The man who shares a last name with a fragrance note in perfumes has yet to file any paperwork with the Federal Election Commission, but his America Party has already been endorsed by a handful of political and public figures, including Mark Cuban.

However, Musk faces two primary problems

Challenging the Democratic and Republican parties on a national scale is far easier said than done. The most successful third-party run in modern US history—Ross Perot’s 1992 campaign—received just under 19% of the popular vote, and didn’t win any state contests or receive any electoral votes.

Experts attribute this to two main reasons:

1. Federal law mandates that all members of Congress are elected from single-member districts, meaning each voting district is represented by one person (and one party). This setup naturally resolves into a two-party system, as per Duverger's law.
2. Democrat and GOP-controlled state legislatures have given themselves automatic pathways to being on the ballot each election, while imposing relatively difficult requirements for all other parties. This entrenchment also makes it difficult for third-party candidates to qualify for presidential debates, like RFK Jr. in 2024.

Big picture: The move further deepens Musk’s break from President Trump, whom Musk supported with ~$250 million in the 2024 election and spent four months serving under as head of DOGE. Moving forward, the America Party’s initial approach will be to back candidates in just two or three Senate seats and 8-10 House districts for next year’s midterm elections—and if successful, “that would be enough to serve as the deciding vote on contentious laws” due to razor-thin margins in Congress.

📊 Flash poll: Do you think America needs a third major political party?

• Yes
• No
• Unsure/other

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In a split verdict delivered late last week, Sean “Diddy” Combs was found not guilty of racketeering and sex trafficking but convicted on less serious charges, capping an extended federal trial over the music mogul’s alleged criminal activities.

• The jury ultimately found Combs guilty on two counts of transportation to engage in prostitution, and not guilty on three other charges that could have sent him to prison for life.

How they got there

Over the previous seven weeks, the jury viewed videos from Combs’ infamous sex parties, or “freak-offs.” They also heard from 34 witnesses who gave accounts of Combs using violence and blackmail to control ex-girlfriends—including singer Cassie Ventura—and female personal assistants.

Meanwhile, Combs’ defense team sought to poke holes in much of that testimony:

• The defense used various loving messages the accusers sent to Combs as evidence that they joined these sex parties willingly, and that all acts were consensual.
• Combs’s lawyers also portrayed his violence as domestic abuse fueled by drug addiction and jealousy, rather than a purposeful attempt to coerce women into sex acts.

What’s next? Outside legal experts say it’s unclear how much additional prison time, if any, Combs will receive at his sentencing, which has yet to be officially scheduled. Prosecutors argued that he should serve at least four years out of a max possible sentence of 20 years, while Combs’s lawyers pushed for a far shorter term—or even time served, at nine months and counting.

Monday: Israeli President Benjamin Netanyahu to meet with President Trump at the White House

Tuesday: Amazon Prime Day kicks off; National Freezer Pop Day

Wednesday: Federal Reserve publishes minutes from last month’s policy meeting

Thursday: Weekly jobless claims; Italy hosts two-day Ukraine Recovery Conference

Friday: James Gunn’s Superman hits theaters; Amazon Prime Day🤔 concludes

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BUSINESS & MARKETS

• 📊 US economy adds 147,000 jobs in June, about even with May's upwardly revised number (144,000) and above analysts' expectations of 110,000; unemployment rate drops to 4.1%.
• 📨 President Trump says 12 countries will receive letters today notifying them of tariffs going into effect August 1 unless they accept "take it or leave it" deals; countries to be named today.
• 🍺 Constellation Brands, owner of Modelo, Corona, and Pacifico, reports weaker-than-expected quarterly earnings amid decrease in beer demand and looming aluminum tariffs.

SPORTS, MEDIA & ENTERTAINMENT

in partnership with NoNetz

• 👍 NHL to allow players to compete in 2026 Milan-Cortina Winter Olympics; will mark first time NHL players participate since 2014. | Seven-team NBA trade involving Kevin Durant finalized; reportedly marks the most teams involved in a trade in league history.
• 🍿 Jurassic World Rebirth tops domestic box office with $147.3 million in its opening weekend; Apple's F1 a distant #2, at $26.1 million.
• 📝 Mexico tops Team USA 2-1 to win their second straight Concacaf Gold Cup and 10th overall. | Wimbledon quarterfinal matchups will be finalized today.

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SCIENCE, SPACE & EMERGING TECH

• 📈 US measles cases number 1,268 this year through July 4; marks the highest number since the disease was declared eradicated in the US in 2000.
• 💊 Isomorphic Labs, a Google DeepMind subsidiary, to begin human trials of AI-designed drugs.
• 🏭 Researchers uncover 125,000-year-old Neanderthal "fat factory," where our now-extinct relatives broke and crushed bones to exact marrow and grease.

US, WORLD & POLITICS

in partnership with Beam

• 🙏 Flash floods in Central Texas over the weekend left at least 81 people dead—including 28+ children—and dozens more missing; President Trump signed a major disaster declaration for Kerr County, where most deaths were reported.
• 🇺🇸 Newly released JFK files reveal CIA officer specializing in psychological warfare ran operation that came into contact with Lee Harvey Oswald before he assassinated JFK; the CIA had previously lied about the connection for decades.
• 🏛️ Rep. Mark Green (R-TN) resigns from Congress to start a new business; the move temporarily narrows GOP’s House majority to 219-212.

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☝️ Americans across the country celebrated the nation’s 249th birthday on Friday with parades, barbecues, fireworks, protests, and more.

🤔 Did You Know? Research has found that Nobel Prize-winning scientists are 25x more likely to sing, dance, or act than the average scientist. They’re also 17x more likely to create visual art, 12x more likely to write poetry, and 4x more likely to be a musician.

📰 Worth a Read: America has pulled off the impossible: It made getting a passport simple

🖱️ Clickbait: Deep power naps may spark “aha” moments

On Wednesday, we covered how the Senate officially passed President Trump’s tax-and-spending megabill following a marathon voting process, with the bill later being signed into law by Trump.

❓ Our question to you: In general, do you support the Trump-backed megabill?

• Yes: 29%
• No: 61%
• Unsure/other: 10%

Click here to read some of the most thoughtful longform responses.

+Note on sample size: We received 2,297 votes and 251 longform responses.

Guess the definitions of the following Greek/Latin root words:

1. Chron
2. Idi
3. Misc
4. Omin
5. Rupt

🐢 The Mediterranean Sea has witnessed a record rise in sea turtle nesting in recent years, thanks to tireless efforts from conservationists.

🌏 Subway Takes is a TikTok series hosted by artist and comedian Kareem Rahma, where he asks New Yorkers what their “hot takes” are while riding on the subway.

🥲 Check out this heartwarming video of a women who received quite the surprise after giving $10 to a man in need.

+Note: These stories previously appeared in a Oct. 2024 edition of Positive DONUT, our weekly newsletter surfacing all the good things you don't hear about in the news.

1. Chron = Time (e.g., chronological)
2. Idi = Personal (idiosyncrasy)
3. Misc = Mix (miscellaneous)
4. Omin = Creepy (ominous)
5. Rupt = Break (eruption)