Good morning. In today’s edition:

• 👋 Americans moving abroad
• 🐛 Dancing caterpillars trick ants
• 💥 US-Iran update

…and much more.

Ready, Set, Go: Today’s news should be a ~4.07-minute read (1,082 words).

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“Well done is better than well said.”

–Benjamin Franklin (1706-1790)

More people left the US than moved in last year for the first time since 1935, according to a new WSJ analysis.

And while much of the trend can be attributed to stricter US immigration enforcement, behind those headlines is a quieter shift: a growing number of US citizens are also choosing to take up residence outside of America.

By the numbers: The US hasn’t collected comprehensive data on emigrating citizens since the early 1950s. But new Census figures, residence permits, foreign home purchases, and student enrollments across 50+ foreign countries all suggest Americans are heading overseas in record numbers.

A closer look:

• The US experienced a net international migration loss of ~150,000 people in 2025, representing the first negative balance in nearly a century.
• An estimated 5.5 million Americans currently live abroad, a figure that’s roughly doubled since the late 1990s.
• About 1 in 5 Americans today say they would like to move abroad if they could, roughly double the ratio who said the same back in 2008.

Where are they going? Large American communities have taken root in Europe, with the surge mostly concentrated in Portugal, Ireland, Germany, and the UK. Parts of Mexico, Canada, and Asia have also seen a recent uptick in American residents.

Driving the trend

Reasons for leaving the US vary on a case-by-case basis, but there are some consistent themes, according to the WSJ:

• Cost-of-living is generally cheaper. Many countries feature lower housing prices, public healthcare systems, and the ability to stretch income further.
• Quality of life can be higher. Most European cities offer walkability, reliable transit, higher-rated schools (below college), and a slower pace of life.
• Remote work means relatively fat salaries. Many Americans abroad are able to work remotely and still keep their salaries from the US, one of the highest-wage countries in the world.

Big picture: The US gov’t currently has a months-long backlog of people seeking to renounce their citizenship—either to secure a foreign passport or avoid taxes on overseas income—after such requests jumped 48% in 2024, and likely outpaced that total in 2025.

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If you thought middle school band kids took rhythm seriously, wait until you meet a caterpillar trying not to get eaten.

Certain butterfly caterpillars are able to use carefully timed vibrations to communicate with ants and trick them into taking care of the caterpillar, according to new research from the University of Warwick.

Let’s break it down: Scientists have long known that some butterfly species are dependent on ants for protection and food during the caterpillar stages of their life, and offer sugary secretions to the ants in return for taking care of them.

But this new study shows that along with chemical methods, some caterpillars also vibrate in the same precise patterns as ants in order to better integrate with them.

• Researchers found that caterpillars with the closest relationship to ants were the ones who vibrated in patterns that most closely matched the ants.
• On the flip side, caterpillars with less similar rhythms had weaker relationships with ants.

“For caterpillars, getting the rhythm right can be vital: it may determine whether ants provide care and protection, or ignore them completely,” said study co-author Francesca Barbero.

Big picture: To date, scientists have mostly associated the ability for complex rhythm with primates and larger-brained animals. However, the new findings suggest rhythm could be a fundamental aspect of communication for a wide range of animal species, including tiny insects.

BUSINESS & MARKETS

• 🎟️ Live Nation antitrust trial kicks off in Manhattan; the DOJ, 39 states, and D.C. have charged the live entertainment company with holding an illegal monopoly since merging with Ticketmaster in 2010.
• 🏢 Berkshire Hathaway reports 29% year-over-year decline in Q4 operating earnings, largely driven by weakness in the insurance business; both Class A and B shares of Berkshire fell 4%-5% on the news.
• 🗳️ Kalshi, one of the world's largest prediction market companies, strikes deal with Associated Press to license election data, starting with the 2026 midterms.

SPORTS, MEDIA & ENTERTAINMENT

• 🍿 Paramount to combine HBO Max and Paramount+ into one streaming service upon completion of its WBD merger; Paramount says HBO will still “operate with independence.”
• 💒 Zendaya and Tom Holland have reportedly married in secret, according to her longtime stylist.
• 🏎️ Tyler Reddick, driver for Michael Jordan’s NASCAR team, becomes first Cup Series driver in NASCAR history to win the first three races of the season.

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SCIENCE, SPACE & EMERGING TECH

• 🦠 Pharma giant Novartis reaches settlement with estate of Henrietta Lacks over decades of biomedical R&D based on the HeLa cell line; a sample of Lacks’ tumor cells was biopsied without her consent in 1951, and eventually created the first “immortal” human cell line with trillions of HeLa cells produced.
• 🪐 Tardigrades (aka “water bears”), a microscopic species known for being able to live nearly anywhere on Earth, struggle to survive in simulated Martian soil—unless it’s been washed by water first, according to new study.
• ♻️ North Dakota judge finalizes $345 million ruling against Greenpeace for damages and defamation during Dakota Access Pipeline protests in 2016-17.

US, WORLD & POLITICS

• 💥🌍 US and Israeli militaries launch airstrikes against Iran and its militant allies (including Hezbollah) for a third day; Iran launches retaliatory strikes at targets across the Persian Gulf; three US jets are mistakenly shot down by Kuwaiti air defenses in an “apparent friendly fire incident” with all air crew safely ejecting.
• 💥🌍 (cont’d) President Trump says Iran operation was initially set to last 4-5 weeks but is ahead of schedule; US military says it’s adding forces in the Middle East to support the Iran operation; six US troops are now reported killed in conflict with Iran.
• 🌿🔫 Supreme Court hears oral arguments in a case centered on whether users of illegal drugs, including marijuana, can own guns.

👆 You’re looking at a ranking of the world’s economies based on GDP—but with the added caveat that each US state is treated as an individual country. A total of 19 US states rank among the top-50 “countries” under this thought experiment.

🤔 Did you know? Of the 49 World Chess Championship matches held since 1886—where the reigning champ plays a single challenger across a series of 10+ games—there has only been one single case of checkmate. This is due to a chess tradition where it’s considered unsportsmanlike to keep playing in an overwhelmingly losing position.

📰 Worth a read: How do you sell the most unappealing products in the world?

🖱️ What we’re clicking:

• How to heal your attention span
• Human brain cells in a dish learn to play the videogame Doom
• The crossing guard making $14K/month mailing out her musings

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Yesterday we covered how the US and Israel launched a massive joint military offensive against Iran’s government on Saturday morning, which killed several top Iranian officials including Supreme Leader Ayatollah Ali Khamenei.

❓ Our question to you: In general, do you support or oppose President Trump’s move to launch a joint military strike with Israel against Iran’s government?

• Support: 32%
• Oppose: 58%
• Unsure/other: 10%

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

+Note on sample size: We received 670 votes and 91 longform responses.

🏟️ The entire sports world in under 3 mins/day. Press Sports is a 3x/week newsletter that’s designed to make you the smartest sports fan in the room in the span of a quick bathroom break.

🤔 Watch: The biggest mistake that lottery winners make. (6 mins)

🛒 Where’s the best bang for your buck? Check out this list showing the most—and least—expensive supermarkets across America. Spoiler alert: wholesale is king.

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❓ Trivia: In which decade is The Great Gatsby set?

🦢 True or false?...A male swan is called a corn.

🤔 Riddle me this…Two mothers and three daughters are in a car, but there are only three people inside. How?

🎤 Eight-year-old Aura V. recently became the youngest person ever to win a Grammy last month, with Aura and her dad earning the Best Children’s Music Album award for their LP Harmony.

❓ Trivia: 1920s

🦢 T/F: False, it’s called a cob

🤔 Riddle: All three people are related: grandmother, mother, and daughter

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