☕️ Bullet vending machines

Lawmakers want to ban congressional stock trading... July 11, 2024 [View Online]( | [Sign Up]( | [Shop]( [Morning Brew]( PRESENTED BY [Bland.AI]( Good morning. It’s 7/11 and brutally hot: Go get yourself a free Slurpee. —Cassandra Cassidy, Matty Merritt, Molly Liebergall, Adam Epstein, Neal Freyman MARKETS Nasdaq 18,647.45 +1.18% S&P 5,633.91 +1.02% Dow 39,721.36 +1.09% 10-Year 4.280% -2.0 bps Bitcoin $57,487.57 -0.50% Nvidia $134.91 +2.69% Data is provided by *Stock data as of market close, cryptocurrency data as of 4:00pm ET. [Here's what these numbers mean.]( - Markets: In 2016, Andy Samberg told us to Never Stop Never Stopping. That’s a message the S&P 500 took to heart this week, closing above 5,600 [for the first time]( seventh straight record close and the longest streak since 2021. As is often the case, the rally was powered by Big Tech titans like Nvidia.  GOVERNMENT [The quest to ban lawmaker stock trading continues]( [Graphic showing stock market lines being capped by the US Capitol building]( Kim A bipartisan group of senators has taken “if at first you don’t succeed, try again” to heart with a new [proposal]( aimed at cracking down on stock trades by members of Congress once and for all. The Ending Trading and Holdings in Congressional Stocks (ETHICS) Act, drawn up by five senators (four Democratic and one Republican), may have the teeth to make a difference on the Hill: - It would require members of Congress, their spouses, and their dependent children to [divest]( from their assets starting in 2027. - Lawmakers would also be banned from trading for the 90 days after the bill becomes law. - The penalty for breaking the law would be either a lawmaker’s monthly salary or 10% of the value of the asset in violation—whichever is bigger. - The act requires divestment of assets even if put in a blind trust. New legislation is a long time coming The acronym experts over in Congress passed the Stop Trading on Congressional Knowledge (STOCK) Act in 2012, which requires members and their spouses to disclose trades over $1,000 within 45 days. But that hasn’t had its [intended effect]( probably because the only deterrent to trading is a $200 fine if you don’t report it in time. No other proposals, of which there have been plenty, have gone far enough to reach a committee. On the bright side: The government’s failure to address politicians’ use of their positions for financial gain has fueled plenty of public criticism, driven in part by fintech putting access to privileged information in the spotlight. - A [pair]( of ETFs following Democratic and Republican politicians’ trades have outperformed the S&P 500 and the Dow Jones Industrial Average, respectively. - The [Autopilot]( app lets users copy trades of individuals like Nancy Pelosi’s husband, Paul (his tracker is up 45% this year). Looking ahead…the bill is expected to make its next step—heading to the Homeland Security and Governmental Affairs Committee for markup—as soon as July 24.—CC PRESENTED BY BLAND.AI [Ring...ring...ring...]( [Bland.AI]( AI is calling—and it sounds more human than ever. Say hi to Bland.AI, the [world’s most realistic AI phone-calling agent](. Chances are, you’ve already spoken to it without even noticing. It understands emotions, responds in any voice or language, and already handles 1m+ phone calls simultaneously, 24/7. For enterprises, it’s been a financial game changer across sales, operations, customer support, you name it. It’s like the perfect employee, so expect major shifts in international and US jobs. Pretty wild, huh? Here, [give it a call yourself](. Or Brew readers can [get exclusive access to an even more advanced version here](. WORLD [Tour de headlines](#) [Samsung Galaxy Rings on display]Xinhua News Agency/Getty Images Samsung officially launched the Galaxy Ring. After months of teasing prototypes, the Korean tech giant announced its highly anticipated smart ring at an event in Paris yesterday. The Galaxy Ring will cost $400 and [track users’ health data]( like sleep, heart rate, skin temp, and women’s menstrual cycles. Galaxy is the first smart ring from one of the world’s big hardware tech companies, following efforts from smaller firms like Oura to develop a snazzy piece of jewelry that knows everything about you. Samsung’s ring could position the company to better compete with Apple in creating an ecosystem of interconnected devices. At the event, Samsung also unveiled other products, including smartwatches and foldable smartphones. Microsoft gave up its seat on OpenAI’s board amid regulatory scrutiny. According to the Wall Street Journal, Microsoft [abandoned its post]( as an observer on the board after realizing it was bothering antitrust officials who were looking into the relationship between the two companies. Apple, which was expected to take a similar seat on the OpenAI board, will reportedly no longer do so. Regulators in both the US and UK have been concerned with Big Tech’s investments in artificial intelligence. Microsoft has given $13 billion to OpenAI in exchange for about 49% of the startup’s for-profit operations. Biden announced tariffs on Chinese steel routed through Mexico. Per the new rule, steel imports from Mexico will be subject to a [25% tax]( unless it’s documented to have been “melted and poured” in the US, Canada, or Mexico, Reuters reported. The rule is an effort from the Biden administration to stop China from exploiting a loophole that allows it to avoid existing levies by funneling metals to the US via its southern neighbor. US officials have been increasingly worried that China’s excess industrial capacity is cheaply flooding global markets at the expense of domestic companies. ENERGY [Infamous nuclear site Three Mile Island could reopen]( [Black and white photo of Three Mile Island Observation Island sign with phone booth and two reactors in the back. Sign says the center is closed.]( Franken - Corbis/Getty Images If you remember seeing Alien in theaters, your least favorite nuclear plant might be headed for a comeback. Energy company Constellation is in talks with Pennsylvania officials to [restart]( a unit on Three Mile Island power facility, the location of the historic 1979 nuclear meltdown, according to a Reuters exclusive. Nothing is official. But two sources told Reuters that the conversations were “beyond preliminary.” Why now? When the plant was officially shuttered in 2019, the cost of nuclear energy couldn’t compete with cheap natural gas and highly subsidized green energy options. But now, there’s more demand for carbon-free(ish) energy—and nuclear has never looked more attractive to [politicians](. The power demand from data centers is expected to triple by 2030, requiring 9% of the US total power supply thanks to the rapid growth of AI development, per the Electric Power Research Institute. Big picture: The US has never reopened a shuttered nuclear plant. There are numerous regulatory, financial, and environmental hurdles that would need to be cleared before a plant could flip the switch back on. But the nuclear industry wants to move quickly ahead of a potential change to a presidential administration that isn’t as keen on ditching fossil fuels as the current one.—MM TOGETHER WITH NEW SAPIENCE [New Sapience]( The problem with AI. ChatGPT makes massive mistakes. It’s not truly thinking or learning. New Sapience has developed [digital AI assistants that actually learn and think the way humans do](. Bill Gates said an AI breakthrough at this level would be “worth 10 Microsofts.” And you have just a few more hours to [invest in New Sapience and get 5% bonus stock](. RETAIL [Select grocery stores are selling bullets like soda]( [American Rounds ammo vending machine]( / X This is probably the most American thing you’ll hear today: People in a handful of small towns can now buy gun ammunition from [vending machines]( in grocery stores, the Associated Press reported this week. They’re owned and operated by American Rounds, a one-year-old Dallas-based company. CEO Grant Magers said the automated touch-screen dispensers, which are [federally approved]( verify customers’ ages by scanning their photo IDs and faces and using AI to match the two. - People 21 and up can tap to buy shotgun, rifle, and handgun rounds 24/7 like they’re using a McDonald’s order kiosk, except the whole exchange only takes [two minutes]( or less. - Magers said he’s received 200+ store requests for the vending machines, but right now only six are up and running: four in Super C Mart locations in Oklahoma, one in a Fresh Value grocery in Alabama, and one in a Lowe’s Market in Texas [right next to]( a middle school, Matt Roy reported. Gun control advocates are concerned…especially after an Independence Day weekend in which gun violence killed at least 33 people. While they welcome facial recognition and age verification tech in firearm sales, safety advocates would rather see these types of protections in gun stores or online—where retailers sometimes [fail to verify]( buyers’ ages—than in the places where you buy bread and cheese.—ML STAT [Prime number](#) [US women’s gymnastics team]GK Elite, USA Gymnastics Gwyneth Paltrow and the US women’s gymnastics team have at least one thing in common: They can never have too many crystals. The American gymnastics team unveiled its [new leotards]( for the upcoming Paris Olympics yesterday, and some include 10,000 hand-placed crystals, up from a pathetic 6,400 for the Tokyo Games three years ago. Each leo would fetch up to $5,000 on the retail market, the New York Times reported. “The more crystals, the more impact, the more the leotards are talked about,” Jeanne Diaz, the design director of GK Elite, told the NYT. Fans can buy replica leotards, which replace the crystals with “spanglez,” for $90. NEWS [What else is brewing](#) - [The Israeli military]( told Palestinians to evacuate Gaza City and head south as it increases military operations in the area. - [BMW]( recalled nearly 400,000 vehicles in the US over an airbag issue. - [Chinese citizens]( are outraged following reports that a state-owned food company uses the same tankers to transport fuel and edible cooking oil. - [Rep. Nancy Pelosi]( the former speaker of the House, declined to say President Biden should run for reelection in an interview with MSNBC, becoming the highest-profile Democrat to seemingly question if Biden should seek a second term. - [Bill Hwang]( the founder of Archegos Capital Management, was found guilty of fraud and other charges by a Manhattan jury after a two-month trial. - [The FTC]( reportedly plans to sue three pharmacy-benefit managers for how they negotiate drug prices, a day after delivering a scathing report on the practice. - [Target]( will stop accepting personal checks from customers starting on July 15, citing “extremely low volumes” of the old-school payment method. RECS [To do list Thursday] Design: The [architectural marvels]( nominated for this year’s World Building of the Year. Pack smart: Helpful [moving tips]( from The Verge. Cool it: [How to prevent]( heat-induced headaches. Eat: Why the US is in its golden age of [tasty berries](. Arouse the whole you: This [FDA-registered vibrating ring]( adjusts to your vulva shape for distributed external stimulation and magnified sensations everywhere you want them. Even better? [Take 30% off]( *A message from our sponsor. GAMES [The puzzle section](#) Brew Mini: What comes after G but before I? Today’s Mini, that’s what. [Play it “H”ere](. Three Headlines and a Lie Three of these headlines are real and one is faker than a “one hot dog per person” rule at a summer BBQ. Can you spot the odd one out? - Man caught [smuggling]( 100 snakes in his trousers - It may look like pink Jello but scientists hope this new [invention]( could revolutionize meat - Nike is [shutting down]( the app for its self-lacing sneakers - New Bic highlighters will [catch]( spelling errors on paper SHARE THE BREW [Share Morning Brew]( with your friends, acquire free Brew swag, and then acquire more friends as a result of your fresh Brew swag. We’re saying we’ll give you free stuff and more friends if you share a link. One link. Your referral count: 0 [Click to Share]( Or copy & paste your referral link to others: [morningbrew.com/daily/r/?kid=4904f90a]( ANSWER We made up the one about the highlighters. Word of the Day Today’s Word of the Day is: snazzy, meaning “stylish or attractive.” Thanks to Quentin from Memphis, TN, and others for the flashy suggestion. Submit another [Word of the Day here](. ✳︎ A Note From New Sapience This is a paid advertisement for New Sapience’s Regulation CF offering. Please read the offering circular at [(. Written by [Adam Epstein]( [Cassandra Cassidy]( [Matty Merritt]( [Molly Liebergall]( and [Neal Freyman]( Was this email forwarded to you? Sign up [here](. Interested in podcasts? - Check out ours [here]( [ADVERTISE]( // [CAREERS]( // [SHOP]( // [FAQ]( Update your email preferences or unsubscribe [here](. View our privacy policy [here](. Copyright © 2024 Morning Brew. 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