Hello, my most Wednesday-like subscribers!

Some people say that inequality is too severe in the United States, but they can’t afford a Chase Sapphire Reserve credit card, so they don’t matter. Also, we have more on the Barcelona Water Pistol Protest of 2025. 💦

—Matt Davis, Need2Know Chedditor

News You Need2Know

• Chase Sapphire Reserve credit card hikes fee

• Amazon Prime Day is now four days; July 8–11

• Spaniards are blasting tourists with water guns

• Barbie is gonna have AI now

• We found a new climate on Pluto

Companies mentioned in today’s newsletter

$JPM ( ▲ 1.65% )  $AMZN ( ▼ 1.07% )  $AIRBNB ( 0.0% )  $MAT ( ▲ 0.64% )  

Chase Sapphire Reserve credit card hikes fee

Chase $JPM ( ▲ 1.65% ) Sapphire Reserve is raising its annual price by 45% to $795. I owe my marriage to a Chase Sapphire Reserve credit card, actually, because I used the bonus points when I signed up to fly to Los Angeles to meet my now wife.

And I will pay the $795 because the points and rewards are worth it. As is the smug feeling you get when you hand it over to pay and everyone goes, “oooooOOOOoohh.”

In a competitive move against premium cards like the Amex Platinum, Chase is also introducing “enhanced benefits,” emphasizing its luxury appeal. These perks supposedly include new travel credits, exclusive rewards, and access to Sapphire Lounges at airports. But whatever.

As Chase also launches a Sapphire Reserve Business card for high spenders ($120,000 minimum annual spend!), the revamped pricing strategy reveals how credit card companies are racing to capture the high-end market. Like me.

Amazon Prime Day is now four days; July 8–11

Amazon has announced that Prime Day 2025 will take place from July 8 to 11, extending the highly anticipated annual sale to a four-day event for the first time. Shoppers can explore discounts across a vast array of categories, including summer staples, home improvement essentials, back-to-school supplies, health products, toys, books, pet items, and premium luxury goods.

New this year is “Today’s Big Deals,” themed “daily drops” that offer limited-time discounts, adding extra excitement to the shopping frenzy. Prime Day remains a major driver of revenue for Amazon, with U.S. consumers spending $14.2 billion during last year’s sale — an 11% increase from the $12.7 billion spent in 2023, according to Adobe Analytics.

Today on the ‘gram: For the love of God, no…

Post of the day: “Thank you for your attention to this matter!”

Quote of the Day

Spaniards are blasting tourists with water guns

In Barcelona, frustration with the impacts of overtourism has taken the form of water gun protests. My editor Sydney was just in Barcelona and did not get water gun blasted, so she must be cool. Also, she just got a Chase Sapphire Reserve credit card. Whoops!

What began as a way for activists to stay cool during sweltering summer rallies has transformed into a unique symbol of discontent against the city’s booming tourism sector thanks to companies like $AIRBNB ( 0.0% ) . Right now you can get a nice luxury penthouse in downtown Barcelona for five nights for $2,800 on there. Say, that’s not such a bad deal, really, eh?

The movement gained traction last July during a rally organized by the Neighborhood Assembly for Tourism Degrowth, a fringe activist group advocating for reduced tourism. “What happened later went viral, but in reality it was just kind of a joke,” explained organizer Adriana Coten.

Since then, water guns have become central to protests aimed at tourists, with demonstrators spritzing visitors and leaving stickers around the city that feature a squirting water gun, emblazoned with the message: “Tourist Go Home!” 

While some tourists found humor in the gesture, others were alarmed. Nora Tsai, on a visit from Taiwan, said the protest made her feel “frightened and saddened,” though she added, “I still like Barcelona.”

Protester Lourdes Sánchez emphasized that their actions are meant to be nonviolent. “The gun really isn’t to hurt anyone. This is a symbol to say that we are fed up with how the tourism industry is transforming our country into a theme park.” However, not all interactions have been peaceful — tensions arose when marchers squirted a hostel worker, who retaliated by spitting at them. In Spain I think they call that “violence.”

While the protest group remains a minority, the symbolism of the water gun is clear. As demonstrator Laurens Schocher noted, “I don’t think the tourists will get it… I think this is to send a message to authorities.” As Barcelona grapples with balancing tourism’s economic benefits with its social and cultural costs, the humble water gun has brought global attention.

Should you check your 401(k) today?

👎️ 

No.

Barbie is gonna have AI now

Toy giant Mattel $MAT ( ▲ 0.64% ) , best known for Barbie and Hot Wheels, has announced a partnership with OpenAI to incorporate AI into its products. The collaboration aims to introduce Mattel’s first AI-powered toy later this year.

“With OpenAI, Mattel has access to an advanced set of AI capabilities alongside new tools to enable productivity, creativity, and company-wide transformation at scale,” said OpenAI operating chief Brad Lightcap, who sounds like he made his name up.

Mattel’s decision comes amid a challenging business environment, as toy manufacturers grapple with dipping consumer spending. Mattel has had to adjust its strategies in recent months, including withdrawing its annual forecast and increasing domestic product prices to counter supply chain costs. The potential integration of AI into toys also marks a shift in the company's long-term vision.

We found a new climate on Pluto

Astronomers using NASA’s James Webb Space Telescope have revealed that Pluto’s climate is unlike anything else in the solar system. The planet has an unexpected bluish, multi-layered haze stretching over 185 miles into its atmosphere, and the blue haze actively controls the dwarf planet’s climate.

“This is unique in the solar system,” said Tanguy Bertrand, an astronomer at the Paris Observatory and lead researcher of the study, published in Nature Astronomy. “It’s a new kind of climate, let’s say.”

Zut alors!

Pluto’s blue haze consists of complex organic molecules formed via sunlight-driven reactions between methane and nitrogen. These haze particles absorb sunlight during the day and release infrared energy at night, cooling the atmosphere significantly more effectively than gases alone. This process explains why Pluto’s upper atmosphere is approximately minus 333 degrees Fahrenheit — 30 degrees colder than expected.

No wonder all the tourists are flocking to Barcelona instead. The findings suggest that haze-driven climates could exist on other celestial bodies, including Neptune’s moon Triton and Saturn’s Titan. Moreover, this unusual dynamic could offer clues about Earth’s early atmosphere, which may have once been shrouded in a haze that stabilized temperatures and supported the evolution of life. “By studying Pluto’s haze and chemistry, we might get new insights into the conditions that made early Earth habitable,” one scientist added.

Poll of the Day: Credit where it’s due

Poll Results: You’re not buying the Trump phone

We asked: What do you think of the Trump family's new phone company?

You answered:

🟩🟩🟩🟩🟩🟩 I'm sure it will make them a lot of money, but it's not for me. (870 votes) 

⬜️⬜️⬜️⬜️⬜️⬜️ It's a wonderful idea, because America needs a U.S.-built phone company. (76)

946 Votes via @beehiiv polls