Surge Groceries

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Happy Tuesday, TFP. The Coldplay-cam saga has reached a new level of memedom — Astronomer, the company at the center of the affair, has hired actress/Goop empress Gwyneth Paltrow as its “temporary spokesperson” to address all the incoming attention. Of course, Paltrow is the ex-wife of Coldplay frontman Chris Martin. Talk about layers.

Grocery stores throughout Europe have introduced digital labels that constantly change the prices of items throughout the day… and the tech is starting to migrate to the US.

Why It Hits: The economic conditions created by tariffs (or the threat of tariffs), inflation, and supply-chain crunches have led to a rollercoaster of price fluctuations on everyday goods — typically in a direction that consumers don’t like. Lawmakers and industry watchers fear that digital labels that change throughout the day could make it easier for price-gouging to occur.

Between the Shelves: Scoring a good deal at the grocery store is a decision that consumers may soon need to make in seconds rather than days.

Checkout: So far, the price changes on digital labels are intended only to lower prices — either to undercut competitors or to move seasonal or expiring products off the shelves more quickly. (And so far, the cost of items in your cart doesn’t change after you take them off the shelf.) They’re also touted as a major cost-saving measure, since employees no longer need to spend time manually updating prices.

Next Order: While stores may not use the tech to surge prices, it’s possible that they could send push alerts to customers indicating that prices are dropping — creating a surge of customers who immediately add items to their online carts. As a result, items could sell out faster than ever.

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Maverick Carter, LeBron James’ business partner at SpringHill, is helping a group of investors looking to raise $5 billion to start a new international basketball league.

The Big Play: The new secret league is reportedly being positioned as a competitor to the NBA… which… good luck. The NBA hasn’t had a competitor to its 5-on-5 matchups since the 1970s, according to ESPN. The hope seems to be that leveraging Carter’s influence and access to LeBron could be a key assist in convincing potential partners and players to take the ambition seriously.

Behind the League: Can the person closest to the biggest player in the NBA help create a challenger to the NBA?

Final Play: While it may seem like a long shot to raise enough money to compete with the NBA, the league could still attract considerable interest from PE firms. They've been getting more involved with NBA teams recently as franchise valuations jump — but they are also constrained by a maximum 20% ownership rule and are barred from serving as governors in the franchises they invest in. So, finding an alternative that doesn’t have these restrictions could be too good to pass up... if the venture has enough legitimacy.

Prediction: While LeBron James is not yet involved with the new league (and has aspirations to become an NBA owner post-retirement), his participation either as an investor or owner could be a game-changer. He’s already involved in pro pickleball, so anything’s possible.

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57.3% of you voted No in yesterday’s poll: Do you think a chatbot that matures alongside you would be useful?

“People mature at different rates. An aging chatbot might set false standards or expectations for a person and their age.”

“Useful to Microsoft and data gatherers maybe... to the users, it seems like more a set-up for young generations to cue into brand loyalty.”

“Our digital devices are already as important as our ‘imaginary friends’ or a favorite stuffed animal, as far as identity formation goes, so it’s super logical that people will want to maintain that connection and identify with this alter ego in ‘real time.’”

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.

😂 The two companies created by the split of Warner Bros. Discovery will be… Warner Bros. and Discovery Global. No notes.

🎮 Xbox has walked back its plans to raise game prices from $69.99 to $80 after customer outcry.

🎞️ Runway AI is teaming up with IMAX to show films from Runway’s annual AI Film Festival in theaters.

🤖 Anthropic is organizing a $3 billion fund raise that will value the company at $150 billion.

💉 GLP-1, the compound at the center of Ozempic, is becoming viewed as an "everything drug” that solves a variety of ailments.

🏠 Cosmic, a sustainable modular housing startup, said it will donate a house to California wildfire victims for every 10 houses it builds.

💰 The Trump tariffs officially begin on August 1st… but don’t be surprised if they get extended yet again.

🛍️ Luxury fashion brands are experiencing a slump as consumers pull back on the excess spending they engaged in during the pandemic.

👀 The EU has found that Temu is selling an excessive number of illegal products.