Instagram’s Map Feature Sparks Backlash & Sweetgreen’s Future Wilts

Summary

Morning Brew Daily Podcast Summary
Episode: Instagram’s Map Feature Sparks Backlash & Sweetgreen’s Future Wilts
Release Date: August 11, 2025

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Introduction

In this episode of Morning Brew Daily, hosts Neal Freyman and Toby Howell delve into the latest developments in the tech and business worlds. From Instagram's controversial map feature to Sweetgreen's financial struggles, the duo provides insightful analysis and engaging discussions to keep listeners informed and entertained.

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Instagram’s Controversial Map Feature

Overview:
Instagram recently launched a new map view feature intended to enhance location sharing among users. However, the rollout was met with significant backlash.

Key Points:

• Feature Description:
  Instagram’s new map view allows users to passively share their location with friends, displaying locations recently tagged in posts or stories. This feature mirrors similar offerings from Snapchat’s Snap Map and Apple’s Find My Friends.

• User Backlash:
  Many users were concerned that their locations would be publicly broadcast without explicit consent, raising fears of stalking and harassment, especially for high-profile individuals, children, and women. This unease quickly attracted the attention of lawmakers.

• Legislative Response:
  Senators Marsha Blackburn and Richard Blumenthal urged Meta (Instagram’s parent company) to remove the maps feature, citing privacy and safety concerns.

• CEO’s Response:
  Adam Mosseri, Instagram CEO, clarified the settings, stating that location sharing is off by default and can only be enabled by user choice. He emphasized that shared locations are limited to selected groups based on user preferences.

Notable Quote:

"The most popular reply to my series clarification was literally no one asked for this." — Adam Mosseri ([09:58])

Analysis:
Toby Howell explains that while the desire to share real-time locations is prevalent among younger generations, Instagram may have misjudged the level of trust users have in Meta. The perceived public nature of the feature contrasted with more private location-sharing services led to widespread dissatisfaction.

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Trump’s Initiative to Privatize Fannie Mae and Freddie Mac

Overview:
President Trump is pushing to bring mortgage giants Fannie Mae and Freddie Mac back to the public markets, aiming to exit their long-standing government conservatorship.

Key Points:

• Historical Context:
  During the 2008 financial crisis, Fannie Mae and Freddie Mac were bailed out by the government and placed under conservatorship to prevent bankruptcy, maintaining low mortgage rates by covering losses on mortgage-backed securities.

• Trump’s Proposal:
  The administration plans to sell stock in these companies, potentially raising $30 billion and marking the largest Initial Public Offering (IPO) in history. This move aims to return these institutions to public markets, valued at approximately $500 billion combined.

• Stakeholder Support:
  Influential figures like investor Bill Ackman and major Wall Street banks support the initiative, seeing significant financial opportunities. However, some skepticism remains regarding the feasibility and timeline of such a complex transaction.

• Potential Impacts:
  Critics argue that privatizing Fannie Mae and Freddie Mac could lead to higher mortgage rates, threatening the stability of the housing market by removing the government guarantee that keeps rates low.

Notable Quote:

"They're looking to raise $30 billion. That would top Saudi Aramco's $29.4 billion listing in Saudi Arabia in 2019." — Neal Freyman ([05:06])

Analysis:
Neal Freyman highlights the unprecedented scale and complexity of this potential IPO, comparing it to the largest ever and noting the significant backing from Wall Street. However, concerns about the broader economic implications, particularly on mortgage rates and the housing market, remain prominent.

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Sweetgreen’s Financial Struggles

Overview:
Despite offering premium salads, Sweetgreen has struggled to achieve profitability, leading to a sharp decline in its stock value.

Key Points:

• Financial Performance:
  In the second quarter, Sweetgreen reported an 8% decline in same-store sales and operating losses exceeding $26 million. This resulted in a 23% drop in its share price, now down 70% since the year's start.

• Leadership’s Response:
  CEO Jonathan Neiman attributes the downturn to deviating from core offerings, specifically citing the discontinuation of their popular "ripple fries" due to production complexities. Neiman also acknowledges macroeconomic trends affecting consumer spending on restaurants.

• Turnaround Plan:
  Sweetgreen plans to refocus on its main offerings by increasing protein portions and reintegrating seasonal menu items to better align with customer preferences.

Notable Quotes:

"Our stores are not delivering right now." — Jonathan Neiman ([13:38])
"Bigger scoops of chicken are in. That's the plan to put Sweetgreen back in the green." — Neal Freyman ([12:50])

Analysis:
Toby Howell discusses how Sweetgreen's attempt to innovate with items like ripple fries backfired, despite their popularity, due to the added complexity in operations. The shift back to core products and introducing more value-driven options reflects a strategic pivot to regain customer trust and financial stability.

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Winners of the Weekend

1. Bed Bath & Beyond’s Comeback Attempt

Overview:
Bed Bath & Beyond has reopened a store in Nashville, marking its first new location since filing for bankruptcy two years ago.

Key Points:

• Rebranding Efforts:
  The new store is branded as "Bed Bath and Beyond Home," emphasizing a renewed focus on home products. The Brand House Collective, new owners, plan to launch six stores in Nashville with potential expansion plans.

• Complex Revival Process:
  The revival journey involved Overstock.com acquiring the brand’s intellectual property, rebranding to Beyond Inc., and partnering with Kirkland’s (now Brand House Collective) to open new stores. This intricate process mirrors the complexity of large-scale financial deals like the Fannie Mae and Freddie Mac IPO.

• Market Challenges:
  The current housing market's struggles pose significant challenges for home decor retailers, requiring sustained consumer spending to ensure success.

Notable Quote:

"If you know this inflation reading comes in hot, then it makes the Fed's dilemma even worse." — Toby Howell ([25:33])

Analysis:
Neal Freyman and Toby Howell reflect on the tough road ahead for Bed Bath & Beyond, drawing parallels with other retail giants that have attempted comebacks post-bankruptcy. The success of these efforts remains uncertain given the broader economic conditions.

2. AOL Dial-Up Internet’s Final Farewell

Overview:
AOL has announced it will wind down its dial-up Internet services by the end of September 2025, marking the end of an era.

Key Points:

• Service Legacy:
  AOL was instrumental in bringing millions online during the early days of the Internet. Despite technological advancements, dial-up services persisted in rural areas and among tech nostalgics until now.

• Final Acknowledgment:
  The closure was quietly announced on AOL’s help portal, surprising many with the service's longevity.

Notable Quotes:

"It's a way to transmit data over a telephone line." — Toby Howell ([22:07])

Analysis:
The hosts reminisce about the nostalgia of AOL’s dial-up service, acknowledging its historical significance despite its obsolescence. The closure symbolizes the relentless progress of technology and the fleeting nature of even the most iconic services.

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Major Events to Watch

1. Intel CEO's White House Visit

   • Context: Intel’s CEO Lip Bhutan is set to discuss the company’s future with President Trump, who has previously called for Bhutan’s resignation over conflicts of interest with Chinese investments.
   • Implications: This meeting underscores the administration's focus on American chip manufacturing as a national security priority. Success could solidify Intel’s strategic role in the U.S. economy.

2. Trump-Putin Meeting in Alaska

   • Context: A rare face-to-face meeting between President Trump and Russian President Vladimir Putin is scheduled, following Putin’s ceasefire proposal in Ukraine, contingent on Ukraine ceding territory.
   • Concerns: European leaders worry this could marginalize Ukraine, though efforts are underway to include Ukrainian President Zelensky in the discussions.

3. July Inflation Report

   • Importance: The forthcoming inflation data will be closely monitored to assess economic trends, especially in light of recent tariff-induced price increases. This report will influence Federal Reserve policies and market expectations for potential rate cuts.

4. Earnings Season Highlights

   • Notable Reports: Key earnings from theater chain AMC and recent IPOs like Core Weave and Circle Man will be scrutinized for insights into market performance and investor confidence.

5. Sports Highlights

   • Events: The Little League World Series, the release of Madden 26, and the commencement of the English Premier League’s new season are key sports events to watch this week.

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Conclusion

Neal Freyman and Toby Howell wrap up the episode by encouraging listeners to engage with the podcast's interactive elements, such as their ongoing password game. They also promote their appearance on the Morning Brew Work Life podcast, discussing workplace dynamics and camaraderie.

Closing Remarks:

"Thanks so much for starting your morning with us and have a wonderful start to the week." — Neal Freyman ([26:13])

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Final Notes

For those looking to catch up on business news with a blend of wit and insight, Morning Brew Daily continues to be a valuable resource. This episode underscores the interconnectedness of technology, finance, and consumer behavior, providing listeners with a comprehensive understanding of current events.

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Produced by Emily Milian, Raymond Lu, Olivia Graham, Olivia Lake, and Devin Emery for Morning Brew.

Transcript

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[Neal Freyman]

Good morning, Brew Daily Show. I'm Neal Freyman.

[Toby Howell]

And I'm Toby Howell.

[Neal Freyman]

Today, Instagram Maps has entered the running for the most hated app update of the year.

[Toby Howell]

Then Trump wants to bring the mortgage giants Fannie Mae and Freddie Mac back to the public markets. It's Monday, August 11th. Let's ride.

[Neal Freyman]

Good morning and happy Monday. It's going to be a great week. And you know password is back. Few weeks ago we ran a game that asked you to uncover a word from a series of clues and the feedback was so positive we are running it back. Here's how it works. The Brews puzzle creator Jack has created a password, a secret word that you have to guess each day. This week. We'll give you one clue at the end of the episode that will help you get closer to figuring out the word. You only get one entry. I repeat, one entry and you can use it at any time this week. But the earlier you send it in, the more likely your name will be sel selected for the prize. If you take a wild guess on Monday and happen to get it right, then your entry is worth five submissions. On Tuesday, after the second clue, entries are worth four submissions. By Friday, entries are worth one submission. Okay, Toby, let's hear the first clue.

[Toby Howell]

Yeah. Before I give you the first password clue, some additional logistics to submit your guests. You can head to the Google form linked in the show description. We will also be posting the link and the clue on our Instagram story. This is also the last time we will be giving you the hint at the beginning of the show. As the week progresses, wait until right before Neil reads the credits to hear the next password clue. Now, without further ado, the first clue for you all to mull over. The password becomes something gross when you change its second letter. The password becomes something gross when you change its second letter. What is Jack cooked up for us? If you're feeling confident? Go ahead and submit at the link in the show description or on Instagram if you're not. You got four more hints coming your way.

[Neal Freyman]

And now a word from our sponsor. LinkedIn Ads Toby I keep getting ads for things I have no use for.

[Toby Howell]

Like what?

[Neal Freyman]

There's this one for a nose hair trimmer that pops up over and over again.

[Toby Howell]

I find it interesting that you think that's something you have no use for, but I hear you. We are inundated with useless ads every day, and a big part of that is because marketers are wasting their time and money.

[Neal Freyman]

We can revisit the nose hair thing later, but LinkedIn LinkedIn ads can help you stop wasting resources like money, time and effort. Like 71% of B2B ads, they can find the right audience for your brand.

[Toby Howell]

They've got over 130 million decision makers and more than 10 million C Suite execs, aka the people you need for your business on their platform, target by job title, industry company and more.

[Neal Freyman]

So try LinkedIn ads. LinkedIn will even give you a $100 credit on your next campaign, so you can try it for yourself. Just go to LinkedIn.com/MBD. That's LinkedIn.com/MBD. Terms and conditions apply only on LinkedIn ads.

[Toby Howell]

One of the lasting legacies of the 2008 financial crisis was the government using taxpayer dollars to bail out mortgage giants Fannie Mae and Freddie Mac, locking them into a government conservatorship. But 17 years later, a growing number of people, including President Trump, want to bring the two mortgage market linchpins out of that agreement and back into the public markets. On Friday, the Wall Street Journal published a report saying that the Trump administration is making plans to potentially sell stock in Fannie Mae and Freddie Mac, valuing the two companies at roughly $500 billion combined. They sound like they could be your neighbors down the block, but Fannie Mae and Freddie Mac stand for Federal National Mortgage association and the Federal Home Loan Mortgage Corporation. Despite both having mortgage in their name, they neither Fannie nor Freddie, actually lend money directly to home buyers. Instead, they buy mortgages from banks, bundle them into investments, and promise to cover losses if too many homeowners can't pay, which helps keep mortgage rates low. But it also caused them to suffer massive financial losses when the housing market crashed, prompting the government to step in and keep them from going bankrupt. And there they've remained, under government control, albeit with a small float of publicly tradable shares. For the last 17 years, despite numerous stop start attempts to end the conservatorship. Neal, this could be another one of those failed attempts. But Trump in a slate of wealthy investors, including Bill Ackman, have been pushing for this idea for a long time now. Are Fannie and Freddie finally going to make this partial stock market exit that's been teased for so long?

[Neal Freyman]

Think of the biggest, most complex financial transaction you can imagine, and then this is ten times more complex and bigger than that. It would be the biggest IPO of all time. They're looking to raise $30 billion. That would top Saudi Aramco's $29.4 billion listing in Saudi Arabia in 2019. That's currently the number one biggest IPO on record. And then the second one for the US market, which is the top one in the US market, is Alibaba's $25 billion IPO back in 2014. So this company could, these combined companies could be worth $500 billion, raising $30 billion. They're aiming to have this happen by the end of the year, and they're convening the right people. A few weeks ago, the White House gathered all the CEOs of the largest six banks in the country, Morgan Stanley, JP Morgan, Goldman Sachs, etcetera, etcetera. Because this IPO is going to be so big that you need all of these banks on board to help out.

[Toby Howell]

Investment banks certainly want this because it is such a complex deal that it would be a massive boon for Wall street banks because, remember, they're the ones who get the fees for advising on their deals. And just the size of this listing alone would mean that a lot of different bankers would take part. So they're kind of licking their chops at this. Also, a lot of the big hedge fund investors want this as well, because Bill Ackman has been kind of betting for years that this exact thing would happen. And it has been slowly accruing shares in the public part of these companies. Again, this is a very confusing thing because even though it's in a government conservatorship, some shares are traded over the counter. They're not listed on, like your normal brokerage app that you could go in and buy this morning. But a lot of more sophisticated investors have been saying, like, hey, we think this is coming down the pipeline. Let's start accruing a stake. And since Trump has elected Fannie Mae and Freddie Mac, shares have been inching upward. They've more than doubled in value. So. So after this latest report from the Wall Street Journal, they were up 20%. So again, you have a lot of very powerful people, from Wall street banks to sophisticated hedge fund managers who have a vested interest in this, which is why a lot of people are saying this time around we could see them return to the public markets.

[Neal Freyman]

But there are critics of ipoing Fannie Mae and Freddie Mac. As you mentioned at the top, they have been credited with keeping mortgage rates low for Americans for decades. And I know mortgage rates don't seem that low right now. They're around 7%. But compared to the rest of the world, the United States, Americans do pay a lower mortgage rate and they have this 30 year fixed rate mortgage which is kind of unprecedented around the world. And Fannie Mae and Freddie Mac do get a lot of the credit because they create this incredible liquid market for mortgage backed securities. And they take so much risk off the table because there's this implicit government guarantee that they will get bailed out should many borrowers default on their loans. So the reason that you're not paying even more in mortgage rates is because of Fannie Mae and Freddie Mac. And the concern is that if it goes away from this government control through an ipo, then mortgage rates will spike. And that's why people are saying, well, hold your horses here. Think of the broader implications for the housing market. Yeah.

[Toby Howell]

And there is no deal, no guarantee. A deal will come together. Remember, IPOs are complex things. They take a long time to prepare, especially as one as complicated and complex as Fannie Mae and Freddie Mark. So Fannie Mae and Freddie Mac. So some bankers are still skeptical whether this timeline is likely, but this probably is the best attempt to privatize these firms that we've seen over the last 17 years.

[Neal Freyman]

Instagram has spent the past few days putting out fires after a new location sharing feature was panned by users. Last week, Instagram quietly rolled out a new map view that allows you to passively share your location with friends, and it'll show the locations you recently tagged and in posts or stories. If that sounds familiar, it's because Snap has a similar feature with Snap Map and Apple has Find My Friends. Instagram called the function a new lightweight way to connect and continued its infamous run of copying features pioneered by Snapchat. But the launch was a complete mess. Many Instagram users believe their locations would be immediately broadcast to the world without them consenting to it, leading to concerns about stalking and harassment for high profile figures, children and women. And it even caught the eye of lawmakers. Two senators, Marsha Blackburn and Richard Blumenthal, wrote to Metta urging it to get Rid of the maps feature. This backlash led Instagram CEO Adam Mosseri to take out his mop and clean things up on Thursday. He wrote that your location will only be shared if you decide to share it. And if you do, it can only be shared with a limited group of people if you choose. By default, location sharing is off. Still, the most popular reply to my series clarification was literally no one asked for this. Which pretty much sums up how people feel about Instagram's latest update.

[Toby Howell]

I can see why they did it though, because it is very much a part of Gen Z culture to share location. A lot of us have been raised on GPS where your parents have your location through Find My Friends or something like that. Snapmac map obviously brought it to social media many years ago. So there is a desire to see what your friends are doing in real time. I think Instagram did correctly judge that. What I don't think that they realize is that one people have trust issues when it comes to Instagram is the biggest social media app in the world. They have trust issues with Metta in general. So it's just a different vibe they bring. And then also the fact that it felt more public than something as intimate as they Find My Friends where you have to explicitly give your friend permission to track your location. Just small little calibration errors led to a pretty big backlash to what should have been a popular feature rollout.

[Neal Freyman]

So if you are wondering what this means for you and whether you have location sharing on, you can go to the DMs page in Instagram, tap the new map option. If it's the first time you're accessing this feature, you will get a pop up. I just did this morning. It will notify you that no one can see your location until you share it with them. And you can change your settings at any time. Then you can go into your settings and choose which people you want to share it with, whether it's friends or close friend friends or certain users or no one. So if you're wondering whether your location is being broadcast by default, it is not. But you can go into the DMs page and then drill down to the map and, and turn it off or turn it on. You can do whatever you want, but that's, that's kind of how you can use it.

[Toby Howell]

I still don't even have the feature for some reason I've been updating my app and now I kind of wish I was on it. So I'm just left stocking Find My Friends with the rest of everyone else. All right, let's move on. Despite selling salads for nearly $20, somehow Sweetgreen has never turned a profit. Wall street has been okay with that since it was growing, but sweetgreen's earnings just before the weekend changed the narrative, sending the stock into a tailspin. Same store sales fell nearly 8% in the second quarter, pushing operating losses to over $26 million. It caused a 23% wipeout in its share price on Friday, which means the stock is now down 70% since the beginning of the year. CEO Jonathan Neiman thinks part of the issue is the chain strayed too far away from its core salad offerings. That's a not so subtle jab at the recently introduced french fries side called ripple fries, which are getting the ax even though customers love them because they were too hard to make. Talking about the ripple fries, Neiman said, we realized that it became a complexifier for us, which is a word you should definitely remember next time you're playing Scrabble. But Neiman also says a turnaround plan is in place that includes giving customers bigger scoops of proteins and leaning more heavily into seasonal menu items. So, Neil, ripple fries are out for being too complex and too good. Bigger scoops of chicken are in. That's the plan to put sweetgreen back in the green.

[Neal Freyman]

Well, it needs to because this company is really flailing right now. And the CEO said there were a couple of different factors at play. One is macro trends, he said. It's pretty obvious that the consumer is not in a great place overall and spending on restaurants is way down. There was, it was the worst first six months of a year for restaurants in the past decade. They had better growth during COVID than right now. So clearly consumers are pulling back. And he also pointed the finger at himself and the management team in saying that our stores are not delivering right now. They went out across all of sweetgreens locations and found that only one third are performing at or above standards. Two thirds represent a meaningful opportunity for improvement. $15 salads is just not a great value proposition right now and people are looking for cheaper and discounted options.

[Toby Howell]

I do just want to pour one out for these ripple fries, though, because we talked about it when they debuted because a lot of people at sweetgreen were very excited for this. They are these air fried, healthier versions of french fries. They weren't as oily actually did go and try them and they were quite good. And they kind of shot themselves in the foot here because so many people liked them and they were Very popular, but they were not very easy to make. So it's just that classic. Do we sacrifice efficiency for this one menu item? Probably not. They gave them the ax, even though they did have a good strong quarter. So just kind of a microcosm of everything that's going wrong with Sweetgreen right now. That even their successful menu items are somehow still biting them in the butt. And then the one final thing that I do think that they messed up on was getting rid of their seasonal menus. Consumers love seasonal menus. We've seen this in many different industries. From Starbucks with the pumpkin spice latte, it's one of their biggest sales drivers. Sweetgreen had a similar thing where they bring out a bowl that kind of match your season that you're in. They got away from that cadence and said, big mistake. Customers clearly like that we're going to go back to more seasonal menu items. So I do think a lot of these were kind of self inflicted wounds and that they do seem to have a better grasp on what consumers want going forward. Who's going to say no to bigger scoops of chicken? That's, that's definitely something that people want. But yeah, in a rough spot right now because not a lot of people are going to these overpriced salads in urban markets.

[Neal Freyman]

That's why I think the biggest thing they need to do is offer value and lower the price if they can. They're going to do these $13 menu bull drops. And that to me is the key. Because last year during summer, it was a complete reversal. We talked about fast casual chains doing so well. Chipotle, Cava and Sweetgreen, they were booming and fast food chains like McDonald's were doing poorly. McDonald's over the past year has gone to great lengths to broadcast to consumers that there is value here at McDonald's. They rolled out value menus and other things that gave people more bang for their buck. Sweetgreen did the opposite. Rolling out steak and going in the more premium direction.

[Toby Howell]

And.

[Neal Freyman]

And now these companies are failing. Chipotle had a really bad quarter as well. So I think you just got to go back to value. That's what people want right now.

[Toby Howell]

Now let's head to our winners of the weekend. This episode is brought to you by Square.

[Neal Freyman]

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[Toby Howell]

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[Neal Freyman]

Those fav local spots need support as they grow. That's where Square comes in. What started as a little white card reader now powers the action behind the scenes. Whether you're expanding to new locations, treating loyal customers like us, or need to cover cash flow gaps, Square meets you there.

[Toby Howell]

Go to square.com/go/morning brew daily to learn more. That's square.com/go morning Brew Daily.

[Neal Freyman]

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[Toby Howell]

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[Neal Freyman]

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[Toby Howell]

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[Neal Freyman]

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[Toby Howell]

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[Neal Freyman]

Mobile.Com welcome to winners of the Weekend, the segment where Toby and I picked two things that scored the most free samples at the Farmer's Market. I won the pre show game of musical chairs, so I get to go first. And my winner is anyone with a Bed, Bath and Beyond coupon stash, because those are redeemable. Once again, on Friday, a Bed, Bath and Beyond store opened in Nashville, the first new location since the company filed for bankruptcy two years ago and closed its 300 stores around the country. The new owners of Bed, Bath and Beyond, the Brand House Collective, are firing up the hype machine by saying they'll accept the 20% coupons that became synonymous with the chain and also offering new ones at the door. But can coupons resurrect Bed, Bath and Beyond from the retail graveyard? Back in 2023, the company filed for bankruptcy after being late to the E Commerce game and struggling with higher costs. The business changed hands a few times through a series of complex deals and is attempting a small scale comeback in Tennessee. The new owners say they'll have six stores planned for the Nashville market and if that goes well, maybe they'll expand further. If you end up checking out the new store, you'll notice at least one thing that's different from the previous edition. The name. It's called Bed, Bath and Beyond Home. Probably to clarify that the beyond just means the rest of the home. Toby, you think this comeback has legs?

[Toby Howell]

They're just going to keep adding modifiers to their name, Bed, Bath and Beyond Home, and then also lawn and then also maybe your bathroom and this. And that is just a funny, you know, modifier. I think they're going to run out of signage space. But I do want to dive into this confusing journey to coming back because you said Fannie Mae and Freddie Mac was the most complex deal that we could think of. But listen to what Bed, bath and Beyond 2.0 has had to gone through. So. Overstock.com this E. Comm website bought the brand's intellectual property in 2023 after its bankruptcy. It rebranded that to Beyond Inc. And launched an online only version of Bed, Bath and Beyond. But then eventually Beyond Inc. Took an ownership stake in this new brand, Kirkland's, which is a home decor chain with around 300 stores. Then it gave Kirkland exclusive license to develop and create Bed, Bath and Beyond home stores. And then just for fun, Kirkland later rebranded to the brand House Collectives and and plans to convert some of its Kirkland Home stores into Bed Bath Beyond. So it is literally so complex, so many things to, you know, revive this iconic brand, albeit with an extra word attached to the end. So all that to say, still think it's a tough time in home decor? The housing market isn't great. You need people to be buying houses to then go buy stuff to put in those houses. So I think they have a long road ahead of them.

[Neal Freyman]

It's a good lesson that when you're a retailer and you file for bankruptcy, it's never the end of the story, whether it's Circuit City or RadioShack or, or toys R Us. I mean, Toys R Us filed for bankruptcy a few years ago and now they've relaunched in the Mall of America in Minnesota and inside the American Dream Mall in New Jersey in New Jersey. So they're also attempting a small scale comeback. We'll see what happens to Claire's, which we didn't talk about, but filed for bankruptcy for the second time last week. That tween store that, you know, millennials loved. So, yes, probably not the end of the story for Bed, Bath and Beyond. It's making the comeback in the Nashville area. If you end up going, let us know how the vibes are.

[Toby Howell]

My winner of the weekend is AOL Dial Up Internet, because it lasted a lot longer than you probably thought it did. The service that brought millions of people online at the dawn of the Internet is actually still around and kicking But AOL revealed on Friday it would wind down its services by the end of September. The end of an era was delivered in a small article on its help portal that some eagle eyed users caught. Hardly a fitting send off for something that brought so many people online. Still, it comes as a shock that AOL in the year 2025 was still providing dial up Internet service to users. Some of those are in rural areas with limited access to broadband, while some are just tech nostalgics who still love the outdated digital serenade that dial up was so famous for. Still, it's worth eulogizing this part of Internet lore. Back in the early 90s, the Internet wasn't a thing. Connecting to it was hard. Into that void stepped AOL, who at its peak had over 18 million subscribers in 1999. But eventually the technology was supplanted by other Internet service connection methods and subscribers have since dwindled to the low thousands. Still, that's a winner in my book because despite losing its relevance decades ago, it still managed to last 34 years.

[Neal Freyman]

So many memories of dialing up to the Internet on your telephone.

[Toby Howell]

Now you do it.

[Neal Freyman]

Yeah, of course that's.

[Toby Howell]

I'm old, I know I never.

[Neal Freyman]

In the 90s, yeah, I absolutely had AOL and that's how you connected to the Internet. What you didn't know at that point was it was really slow. Dial up speeds don't reach over 56 kilobytes per second, which means they're too slow for streaming video or audio playing any sort of game that was developed recently. Now we measure Internet speeds in megabits or gigabits. So we've come a long way. Broadband has brought us to a new place. Absolutely. Pour one out for something that connected so many people to the Internet.

[Toby Howell]

I didn't know that the dial up tone was fun. Functional. Oh, I guess I did know is functional. But that process of beeps and words and whatever noises you're hearing that's establishing connection over a phone line, those tones are actually specific tones and sounds that modulate and demodulate data into an audio signal. So maybe a lot of people know this, maybe I am just too young for that. But those things that you're hearing is not just, you know, some Internet nostalgia thing. It is just a very. It's a way to transmit data over a telephone phone line. So yeah, never had the pleasure of, of actually using AOL dial up Internet. That being said, if I would call it a pleasure, I mean, I mean it's a nostalgic pleasure, but I do have an AOL email address. That was my first email address. I just looked at that. I have 70,000 emails in that somehow, because it's just been accruing marketing emails from whatever I signed up for when I was a kid. So maybe those will become a nostalgic thing going forward as well because, yeah, it's all about Gmail these days.

[Neal Freyman]

It's Monday, so here are the major events you need to know about to stay ahead in the week ahead. Today, Intel CEO Lip Bhutan will visit the White House to talk with the guy who wants him fired. Last week, President Trump called on Tan to step down from the position, calling him highly conflicted due to previous investments in Chinese companies. Trump's move was extremely unusual. The government doesn't typically involve itself with management decisions at private companies, but fits with the pattern of the president pushing companies to make major strategy changes, whether it's Coke using real sugar or telling Walmart to eat the tariffs. Tan is expected to explain his background to Trump and vouch for Intel's role in American chip making, a key national security issue.

[Toby Howell]

I mean, we just had Tim Cook come to the White House, pledged to invest in America, give Trump a gold statue, and Apple Stock is up 12% in the last week. So it looks like the Texio pilgrimage to the White House can be fruitful if you play it right. We'll see if Tan comes armed with any statues and if he can explain his business ties and, you know, lay out a plan for how intel could work with Washington.

[Neal Freyman]

On Friday, another meeting will take place that could not have been an email. President Trump will hold a rare face to face chat with Russian President Vladimir Putin in Alaska. It comes after Putin proposed a ceasefire in Ukraine, but only if Ukraine were to relinquish large swaths of territory in the eastern part of the country. Ukrainian President Volodymyr Zelensky has rejected giving up any land for a cease fire. And European leaders are concerned that these Trump Putin talks would sideline Ukraine. But Vice President J.D. vance said yesterday that they were working on including Zelensky in the talks in Alaska. So seems like there are a lot of moving pieces before this meeting takes place. The biggest event for the economy will come tomorrow with the release of the monthly inflation report for July. With prices for some items ticking up in June due to tariffs, Wall street will be watching whether those price hikes have accelerated. Plus, everyone's curious to see Trump's reaction since this is the first big economic data release since he fired the head of the Bureau of Labor Statistics. After the previous jobs report. Also, earnings season is winding down, but we should get a few interesting reports from theater chain AMC and recent IPOs, Core Weave and Circle Man.

[Toby Howell]

It feels like every government data drop just has taken on heightened importance these days. If you know this inflation reading comes in hot, then it makes the Fed's dilemma even worse because those horrible, no good, lousy labor market numbers dropping has the market all but guaranteeing the fact that there will be a rate cut come September. But hot inflation numbers could complicate that.

[Neal Freyman]

And then finally in sports, the signs of summer coming to an end are everywhere. The always fun Little League World Series begins on Wednesday, the same day Madden 26 is released to get us amped for the upcoming football season. Then on Friday, the new English Premier League campaign kicks off. My team Liverpool cruised to the trophy last season and they're looking even more dangerous this year.

[Toby Howell]

I don't think so. Salah missing two penalties season, they look vulnerable immediately after they turn over possession. Just lost to Crystal palace and the Community Shield. So don't know what you're watching, but if you want to tune in to see the Premier League champs play, play Manchester United take on Arsenal on Sunday at 11:30am all right, that is all.

[Neal Freyman]

The time we have. Thanks so much for starting your morning with us and have a wonderful start to the week. If you have any thoughts or feedback on today's show, send a note to Morning Brew Daily at Morning Broadcom. And Toby, you've got something exciting to tell our listeners.

[Toby Howell]

Yes, Neil and I went on a podcast that wasn't me. The Morning Brews Work Life podcast, per my last email, had both of us on to talk about what it's like to have a work bestie and if you should have a work bestie at all. Given that Neil and I spent a lot of time together, they called us in to give our thoughts per my last email, is hosted by Kayla Lopez and Kyle Haggie. The very same Kyle. You all know who fills in for Neil and I from time to time. It's a fun episode, especially if you're looking for some Neil and Toby lore. Check it out. It will be live later today.

[Neal Freyman]

And let's roll the credits. Emily Milian is our executive producer. Raymond Lu is our producer. Our associate producers are Olivia Graham and Olivia Lake. Hair and makeup is probably going to need another password clue. Devin Emery is our president and our show is a production of Morning Brew.

[Toby Howell]

Great show today Neil. Let's run it back tomorrow.