Good morning. In today’s edition:

• 🤖 OpenAI’s first hardware device
• ⚽ Argentina stuns England
• 🍨 Eat ice cream for long, healthy life

…and much more.

Ready, Set, Go: Today’s news should be a ~3.89-minute read (1,036 words).

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"Silent and listen is the same word, just misspelled."

–CyHi the Prynce (b. 1984)

Ironically, Broadway's biggest summer drama is happening behind the scenes.

The industry is in the middle of an extended slump, with several major productions struggling to fill seats, and even longtime blockbusters posting historically weak box office numbers.

Cats: The Jellicle Ball is the latest victim. Despite earning nine Tony nominations and three wins, the critically acclaimed revival couldn't overcome the sky-high costs of running a large-scale musical. The production this week announced plans to close early after a short four-month run, despite relatively high capacity (~93%) and respectable gross receipts of ~$1 million/week.

It follows a tough week for Broadway

Box office grosses plunged 20.1% over the July 4 weekend compared to the previous week, with all 32 running productions bringing in less revenue.

• Attendance saw a relatively smaller dip of 11.5% week-over-week, as producers cut the average ticket price by ~10% to $113.50 in an effort to attract audiences.
• Even Wicked earned just $1.0 million, marking the worst financial week of its 22-year run

The struggles extend far beyond a single holiday weekend. Around 10 Broadway productions have announced early closures so far this year, amid falling ticket sales and rising costs. Producers are also sharply scaling back on new musicals after a wave of expensive flops, with many instead investing in lower-cost plays with recognizable film/TV actors in an effort to boost their bottom lines.

Bottom line: In a lengthy social media post this week, musical theater legend Andrew Lloyd Webber noted that the economics of Broadway have become nearly impossible, with many young creators unable to make a living from theater alone, and investors rarely getting their money back.

The composer urged theatre owners, unions, and producers to come together and “urgently address what is a crisis coming to a head.”

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OpenAI is reportedly developing its first consumer hardware device: a portable, screenless smart speaker designed to function as an AI companion that users move from room to room.

The gadget will likely include cameras and environmental sensors, learn its owner's habits, draw on personal information like emails, and proactively offer help before being asked, according to Bloomberg’s Mike Gurman.

It's also expected to control smart-home devices, play media, answer questions, respond to messages, and tap into ChatGPT's new GPT-Live voice technology.

• Behind the project are OpenAI CEO Sam Altman and former Apple design chief Jony Ive.
• OpenAI spent ~$6.5 billion last year acquiring Ive's startup, io Products, while his design firm, LoveFrom, is leading the creative vision for OpenAI's hardware lineup.

Speaking of Apple…The iPhone-maker on Friday sued OpenAI and two former employees over allegations that they stole confidential trade secrets to support OpenAI’s hardware ambitions.

OpenAI denies the allegations, and says its consumer hardware device is fundamentally different from anything Apple currently offers.

Looking ahead…OpenAI says it remains on track to unveil its first hardware model in the second half of 2026. But don't start clearing shelf space just yet; the device isn’t expected to begin shipping before the end of February 2027, per a recent court filing.

BUSINESS & MARKETS

• 🏘️ Average contract rate for 30-yr fixed mortgage climbs to 6.65%, its highest level since August 2025, as mortgage applications fall to lowest level since February.
• 🇨🇳 China’s economy grew at 4.3% annual rate last quarter, marking its slowest pace in over three years.
• 💳 Payments startup Stripe and private-equity firm Advent International submit joint offer to buy PayPal for $53 billion; it marks a ~28% premium on PayPal’s share price at Tuesday’s close.

SPORTS, MEDIA & ENTERTAINMENT

• 🏟️ Argentina stuns England 2-1 with late two-goal rally to advance to the World Cup final against Spain on Sunday; Argentina is seeking its second straight WC title.
• 🎥 Christopher Nolan’s The Odyssey begins preview screenings this afternoon ahead of its nationwide theatrical release on Friday.
• ☀️ It's Always Sunny in Philadelphia Season 18 to premiere on FX, FXX, and Hulu next month, making the show the longest-running live-action sitcom in TV history.

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SCIENCE, SPACE & EMERGING TECH

• 🥓 Keto diet linked to faster tumor growth in the small intestine but slower tumor growth in the colon in mice predisposed to intestinal cancer; researchers find keto’s high-fat content, not ketones, trigger the differing effects.
• 🐨 Koala eggs and sperm to be frozen in liquid nitrogen by scientists in Australia as a genetic backup that could preserve the species and support future breeding efforts.
• 🪖 US Army partners with startup Auriga Space to develop electromagnetic launcher that could use low-cost interceptors to defend against drone swarms.

US, WORLD & POLITICS

• 🏛️ Acting AG Todd Blanche faces questions over the scrapped $1.8 billion "Anti-Weaponization Fund” and a tax immunity deal for President Trump during Senate confirmation hearing to stay in his role officially; Blanche needs all 11 Republican votes in committee to advance his nomination. | Dr. Erica Schwartz, Trump’s nominee for new CDC director, also faces Senate confirmation hearing.
• 🛑 President Trump urges Immigration and Customs Enforcement to continue making traffic stops, despite his admin moving to suspend most stops earlier this week following recent fatal ICE shootings in Texas and Maine.
• 🔥 Wildfires in Canada and Minnesota send heavy smoke across the Midwest and Northeast US, triggering air quality alerts for millions of Americans; conditions are expected to worsen over the next few days as air pushes eastward.

☝️ United Airlines on Tuesday unveiled a new, cutting-edge seat design to rid travelers of the dreaded middle seat neighbor: a teeny tiny table. The special Economy Plus row will be outfitted with a permanent tray table over the middle seat to allow passengers a little extra elbow room on longer flights. Tickets for the new type of seat will go on sale later this year, with pricing yet to be announced.

🤔 Did you know? The average human scalp has anywhere from 90,000 to 120,000 strands of hair, depending on genetics, natural hair color, and ethnicity. Blondes typically have the most strands since the hair is thinner, followed by brown/black hair, then redheads.

📰 Worth a read: Eat your ice cream for a long, healthy life? This doctor says so

🖱️ What we’re clicking:

• The greatest con in mushroom history
• 4 questions to move beyond small talk and make new friends
• This 91-year-old is hiking 2,190 miles—again

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Yesterday we covered the US House voting 308-117 in favor of the Sunshine Protection Act of 2025, clearing a key hurdle for legislation that would make daylight saving time (DST) permanent nationwide.

❓ Our question to you: Which of the following options regarding daylight saving time would you most prefer?

• Keep the current system: 17%
• Permanent DST (later sunrise/sunset): 32%
• Permanent standard time (earlier sunrise/sunset): 45%
• Unsure/other: 6%

Read some of the most thoughtful longform responses.

+Note on sample size: We received 784 votes and 99 longform responses.

What’s the name of the volcano near Tokyo?

🤭 It's a win-win... International Skinny Dipping Day, officially recognized by the American Association for Nude Recreation since 2018, was held on Saturday, boosting body positivity while raising tens of thousands of dollars for women's charities in Asia and Africa.  

Mt. Fuji

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