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Happy Tuesday, Future Party. Here’s something that’ll wake up C-suites around the country — AI delivers “zero financial payoff” for companies unless you’re Alphabet, Amazon, Apple, Meta, Microsoft, Nvidia, or Tesla. That’s according to Apollo Global Management economist Torsten Slok. He believes that unless you’re one of those seven companies, “profit margins and revenue per worker appear to be flat, with no evidence that AI is improving productivity,” TechCrunch summarized. Yikes. But it looks like an eighth company is about to join that list. We have a little more on that below.

Top AI company Anthropic is going public at a potential $1.75 trillion valuation.

Why It Hits: Anthropic’s IPO makes it the first pure-AI startup to hit the public markets — a big moment for the nascent industry that’s already carrying the S&P 500 (and, by extension, the entire US economy). Yikes. With OpenAI prepping its own IPO and Meta announcing an equity offering to raise $95 billion for AI expenditures, the race is on to gobble up as much capital as possible before there’s literally no money left to fund the AI buildout.

Behind The Filing: Anthropic is currently the highest-valued private company in the world… and now wants to become one of the most valuable public companies later this year.

Closing Thoughts: Fascinatingly, Anthropic devoted 90 whole pages of its prospectus — about a third of the document — to the inherent risks of its technology. Every company includes risk factors when preparing for an IPO, but few cite challenges like systems that could “behave in unintended, misaligned, or autonomous ways” and pose “catastrophic or existential risks to humanity.”

So… invest accordingly!

Prediction: Who takes control of the House and Senate after the midterm elections could change the narrative around Anthropic’s IPO. That could set the stage for what kind of AI regulations hit the docket.

No one likes shopping for car insurance, which is why Smarter Auto wants you to do it… well… smarter.

The US-based online auto-insurance comparison platform helps drivers explore options, match with carriers, and shop for potential savings. That means more time enjoying your ride and less time sweating over your coverage.

Here’s how it works:

Yeah, it’s that easy.

Whether you’re a new driver insuring your first car or a seasoned one looking to change your existing coverage, Smarter Auto can help you find a quote that’s right for you.

Try it today.

Duplass Brothers Productions (DBP) has struck a deal to stream its independently produced series, The Long Long Night, on Spotify. Yes, Spotify.

The Big Picture: There’s no doubt about it: Video reigns supreme when it comes to content. While the short-form wars are pretty much over (because everyone has a short-form offering now), social platforms and niche streamers are now fighting for long-form eyeballs. With Spotify testing TV distribution and Instagram now supporting horizontal videos up to 90 minutes long, YouTube may have some new direct competitors.

Behind The Scenes: By turning to Spotify, DBP is betting it won’t face much competition for eyeballs.

Final Cut: DBP has been experimenting with independent TV for the past few years, setting up shows in unique ways once they’re finished. The Long Long Night represents its biggest swing yet. It raised money on Seed & Spark, premiered at festivals like SXSW and Tribeca, and made its streaming debut on the film-centric social platform Kinema. With the Spotify deal, Mark Duplass is hoping to find a way to make the show “really break out.”

Coming Soon: If Spotify can turn a show — a non-music one at that — into even a modest hit, expect Hollywood to start looking at the platform as a new distribution destination. Could Spotify be a buyer at next year’s Sundance Film Festival?

For US food, farm and outdoor businesses. Navore Market in San Diego hedges heat waves on Kalshi and shares the payouts with its farmers. If weather, fuel or tariffs can hurt your business, you can hold a position on it from a few dollars. Federally regulated.

See how hedging works

27.6% of you voted Yes, I have one dog in yesterday’s poll: Do you currently have a dog?

“My 14-year-old border collie mix passed away in July, and we rescued a 9-month-old lab mix a month later because we have all the love to give a dog, and the love we get back is worth it.”

“We use our dogs to guard our goat herd. We have two Great Pyrenees and one Anatolian Shepherd. They have cut our losses to coyotes tremendously.”

“Loved each one but developed allergies. No more dogs for me. Miss them.”

“Well, not ‘multiple,’ but two. They are a Yorkie-Schnauzer and an Australian Shepherd-Schnauzer mix. I love them more than words can express. Dogs are (hu)man’s best friends, and we barely deserve them as it is. The thought of engineering them for battle is deeply unsettling, tbh.”

“These technocrats are breeding super-soldier dogs now. Whenever it’s a human freedom, they claim legalizing something will be a ‘slippery slope,’ but everything they’re doing is a path to Armageddon. It’s like they want ALL of the sci-fi apocalypses to happen at once.”

Let’s keep the conversation going. Join Poll Of The Day, 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.

🎥 Lionsgate is partnering with Steven Paul’s SP Media on a joint venture that will help the studio expand and diversify its entertainment investments.

🎞️ Speaking of Lionsgate, the studio posted the entirety of the first Hunger Games movie on YouTube ahead of the franchise’s next installment.

📺 Netflix debuted its first all-creator ensemble sitcom, Minimum Wage, with episodes ranging from 12 to 20 minutes.

👔 Microsoft is offering buyouts to 60,000 employees worldwide in an effort to avoid further layoffs.

🚗 Turo will start offering rentals of Teslas equipped with Full Self-Driving (Supervised) software on its platform.

🚨 Speaking of autonomous vehicles, the National Highway Traffic Safety Administration wants to allow them to illuminate cyan-colored lights when they’re self-driving.

👟 Nike is collabing with Swedish brand Our Legacy Work Shop on a running collection launching in spring 2027.

⌚ Luxury watchmaker Audemars Piguet will begin certifying pre-owned watches for resale.

🏀 Both Polymarket and Kalshi scored deals to become the NBA’s “preferred” prediction market exchanges.