Good morning. In today’s edition:

• 🍿 Netflix’s sequel problem
• 🗳️ Platner exits Maine Senate race
• 🧹 The art of Swedish death cleaning

…and much more.

Ready, Set, Go: Today’s news should be a ~3.65-minute read (972 words).

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"Life is much too important a thing ever to talk seriously about it."

–Oscar Wilde (1854-1900)

Netflix, the streaming giant that propelled binge-watching into mainstream culture, is now struggling to keep audiences hungry for seconds.

A growing number of users are abandoning popular Netflix shows after their debut season, according to a new Bloomberg analysis ($).

Based on the streamer’s internal viewing data:

• One Piece, one of Netflix's biggest hits of 2023, lost more than 30% of its audience in Season 2.
• The Night Agent shed roughly half its viewers for Season 2, then another 35% for Season 3.
• Beef saw its audience drop by 70%+ in-between seasons, while the latest season of Avatar: The Last Airbender fell by 60%+ based on initial data.

The trend has been building for a while

Unlike broadcast TV programs, which often peaked in the middle of their run thanks to word of mouth, Netflix shows have historically delivered their biggest ratings in the first season.

• The streamer has also earned a reputation for canceling many shows—even breakout hits—after only a season or two, and received criticism for shows taking too long between seasons.
• At the same time, TikTok, YouTube, and other social media sites have made it even harder for TV shows to capture and hold viewers’ attention.

But the especially sharp drop in viewership for many recent Netflix hits is a major source of concern for the company, which has been studying internal data to figure out why it’s happening, per Bloomberg.

Zoom out: Netflix has been gaining users over the past year, but it’s failed to see a surge in engagement despite several recent major releases (including the finales of Squid Game and Stranger Things). Netflix’s stock is down ~16% so far this year, and ~40% over the past 12 months.

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Much like the average hairline after 45, America’s middle-aged workforce is quietly thinning out.

New Census Bureau estimates show the number of Americans aged 45–64 shrank by 3.2% between 2020-25, falling to 81.3 million. That age group joins under-18s as the only two brackets currently experiencing population declines.

This wasn’t exactly unexpected…

The 45-64 age group is dominated by Gen X, the generation born during America’s “baby bust” that followed the post-World War II generation of Baby Boomers.

…but the impact is still significant. The 45–64 age group includes many of America's most experienced workers, including veteran teachers, senior managers, business owners, and civic leaders.

• As millions of Baby Boomers continue retiring, a shrinking pipeline of mid-career workers could make it harder to replace that institutional knowledge.
• This would also mean thinner leadership pipelines, fewer mentors for younger employees, and a smaller pool of peak earners supporting the tax base and caring for aging relatives.

Zoom out: The trend isn’t hitting everywhere equally. The Northeast and Midwest saw the steepest declines, while the South was the only region to post any growth in its 45–64 population since 2020.

BUSINESS & MARKETS

• ✈️ Delta Air Lines launches new “basic” fare for business and first classes, which comes without perks like free seat selection and airport lounge access.
• 🚀 Blue Origin, the Jeff Bezos-founded space company, is reportedly raising $10 billion at $130 billion valuation in its first outside funding round.
• 🏥 Affordable Care Act insurers propose 14% median premium increase for 2027, following a 20% price hike in 2026 amid expiration of pandemic-era subsidies.

SPORTS, MEDIA & ENTERTAINMENT

• 🏆 2026 Emmy nominations unveiled; The Pitt leads all shows with 25 nominees, followed by the final season of Hacks with 24.
• ⚾ Tigers SP Justin Verlander announces plans to retire at the end of this season; he’s also named the AL’s All-Star Legend Pick; the 43-y.o. future Hall-of-Famer has won 3 Cy Young Awards, 2 World Series, and an MVP (one of two full-time pitchers this century).
• 🏟️ Justin Bieber added to first FIFA World Cup Final halftime show, alongside Madonna, Shakira, and BTS.

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SCIENCE, SPACE & EMERGING TECH

• 🔋 Rechargeable battery lifespan can be predicted in days instead of months with a new computing method from the Oak Ridge National Laboratory; discovery could help utility companies improve large-scale energy storage systems.
• 🧪 FDA rejects petition to set legal limit on toxic PFAS (aka “forever chemicals”) in food; the regulator instead plans to set non-binding “action levels” that wouldn’t require contaminated food to be removed from shelves.
• 👟 WeWard, Venus Williams-backed app offering rewards to users who log steps, launches “Walking Mode” feature where users can restrict usage of chosen apps until a specific step count is hit.

US, WORLD & POLITICS

• 🌏 US military launches airstrikes on Iran for a second straight night, hours after President Trump said the eight-week ceasefire has officially ended following recent Iranian attacks in the Strait of Hormuz.
• 🗳️ Democratic nominee Graham Platner is suspending his US Senate campaign in Maine following a public allegation of sexual assault against him, which he denies; Maine Democrats have until July 27 to choose a replacement candidate to face GOP Sen. Susan Collins.
• 🇺🇦 President Trump voices support for Ukrainian long-range strikes inside Russia and says he would grant Kyiv a license to produce US Patriot missile interceptors; it marks the US President’s strongest praise yet of Ukraine’s military strategy. | Trump orders halt to all trade with Spain after the NATO member failed to meet defense spending targets and closed its airspace to the US during the Iran conflict; Trump made a similar threat in March, though trade continued normally.

☝️You're looking at some of the top images from the Ocean Conservancy Photo Contest, an annual ocean-based wildlife photography competition that drew 1,000+ entries this year.

🤔 Did you know? Oregon is the only state with an official nut. The hazelnut (also known as the filbert) was designated as the state's official nut in 1989. Oregon dominates the US hazelnut industry, producing some 99% of America’s entire commercial crop.

📰 Worth a read: The wine made by British monks that’s making bank

🖱️ What we’re clicking:

• The art of Swedish death cleaning
• Peppa Pig’s villain era has arrived
• What happens to your brain in space?

You and one very lucky plus-one… Alltroo is giving away a 7-night villa stay in Bali. Ocean views, massages, and flights included. Every entry, starting at $10, supports GLAAD. Get 150 extra entries with code DONUT150.

Yesterday we covered a SCOTUS decision that allows Texas to begin enforcing a law requiring app stores to verify users' ages and obtain parental consent before anyone under 18 can download a majority of apps.

❓ Our question to you: In general, do you support or oppose Texas’ new state law requiring age verification and parental consent for users under 18 to download most apps?

• Support: 67%
• Oppose: 18%
• Unsure/other: 15%

Read some of the most thoughtful longform responses.

+Note on sample size: We received 587 votes and 41 longform responses.

Nuuk is the capital of which country?

💸 21-year-old Jacob Allmendinger spent his life savings to take his grandpa on a once-in-a-lifetime trip to the World Cup. The soccer fan was rightfully blown away when a company inspired by their story gifted him the entire $13,000 back.

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