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Happy Wednesday, Future Party. Got milk? Just hearing the phrase sends a wave of nostalgia through millennials. Good news for anyone missing the ‘90s — it’s back. The California Milk Processor Board, the originator of the iconic slogan, has launched a new Got Milk campaign, photographing 12,000 California residents sporting the classic milk mustache. The revival comes as demand for alternative milks cools for the first time in over a decade. No wonder some of the ads declare, “Real is so back.”

Ralph Lauren is rolling out an in-app AI chatbot, dubbed “Ask Ralph,” designed to be a personalized shopper and stylist for customers.

Why It Hits: As chatbots take over the internet, retail is set to enter a new era. Ralph Lauren has always been ahead of the curve when it comes to adopting technology, including ecommerce sites, digital fashion mags, and QR codes. In that sense, Ralph Lauren’s chatbot may be a canary in a coal mine for the entire industry — a transition that Microsoft VP Shelley Bransten calls a move from “scroll-based” shopping to “goal-based” shopping.

Behind The Bot: Ask Ralph is available for iOS and Android devices in the US starting today.

Last Looks: Ralph Lauren actually tried to launch a version of “Ask Ralph” on its website in the early 2000s, complete with the ability to video conference with a sales associate. That experiment never took off, but the ethos of “recreat[ing] the experience of working with a well-trained Ralph Lauren salesperson” — according to chief branding and innovation officer David Lauren — has remained the brand’s  North Star ever since.

For the AI version of Ask Ralph, the company leaned on its archives, its creative team, and its in-store employees to bring that dream as close to reality as possible.

Next Edition: David Lauren hopes the free chatbot will entice non-Ralph Lauren customers to download the app, which could be the best marketing tool for getting Gen Z into polos and blazers.

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New Paramount CEO David Ellison is looking for ways to revitalize the company’s suite of cable TV brands, including MTV, Nickelodeon, Comedy Central, and BET.

The Big Picture: Enough has been written about how the streaming revolution left cable TV in the dust, with most customers cutting the cord in favor of on-demand programming. While major entertainment conglomerates spin off their declining TV assets into debt-laden life rafts (Versant, Discovery), Paramount is bucking the trend by exploring something potentially more radical.

Behind The Scenes: Can traditional TV be saved? David Ellison is on a mission to find out.

Let’s take MTV for example:

The Future: Figuring out how to best leverage its TV assets is crucial for Paramount — those brands still generate significant revenue, even as they decline. As Paramount reinvents itself, maximizing their value provides a lifeline to fund bigger swings in its studio, streaming, and gaming divisions.

Next Season: To recapture relevance, Paramount may need to reimagine these TV brands as niche incubators for talent with Gen Z and millennial fans — talent that can then “graduate” to the company’s larger divisions.

The problem with most business news? It’s too long, too boring, and way too complicated.

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45.7% of you voted No in yesterday’s poll: Do you think states should be allowed to loosen FDA oversight for experimental healthcare?

“This reckless move stands to open up the floodgates for snake oil salespeople and ‘alternative therapies’ to take advantage of vulnerable, desperate people.”

“Trials and test procedures exist for a reason — mainly to protect patients. While some bureaucracy can get in the way of innovation, I’d rather the system lean toward patient safety over profit. Without FDA involvement, it’s hard to guarantee.”

“Part of the genius of America is the ability to run parallel experiments. Hate income tax? Try NH. Want UBI? Try Alaska. Want stricter liquor laws? Utah.”

“If no other treatment is working or available, why not?”

Let’s keep the conversation going. Join our Poll Of The Day newsletter, so your opinions can shine. Discover how your views line up with your peers’, check out cool insights, and have some fun. It’s data with personality.

🏈 YouTube’s first exclusive NFL game scored an average of 17.3 million viewers.

✊ The production assistants working on HBO Max’s The Pitt have become the first to unionize.

🫠 Podcast company Inception Point AI is churning out 3,000 episodes a week at $1 apiece. Have we finally reached peak podcast?

💨 OpenAI is threatening to leave California if regulators make it too difficult to become a for-profit company… with $19 billion in funding on the line.

👀 A federal judge may not actually approve Anthropic’s $1.5 billion settlement with authors who sued for copyright infringement.

🚘 Jetson has delivered its first eVTOL aircraft, with Anduril founder Palmer Luckey as the lucky recipient.

⏲️ The Long-Term Stock Exchange is pitching the SEC on allowing companies to report earnings twice a year instead of quarterly.

📦 Temu is slashing prices on some items by 60% in response to the Trump administration’s tariffs. Yeah, we don’t understand how the economics work here either.

🪞 Bansk is acquiring skincare brand Byoma, which has gone viral with Gen Z customers.