Happy Friday! It’s June 28, 2024. We have three great stories to wrap up the past few weeks in markets, business, and the economy for you and your family.

Here are the highlights:

• Airport lounges are in a renaissance: See the latest and greatest lounges (and how to get in!)
• Big Music is suing AI startups: Why the cases might have an impact on AI
• Congress is embracing nuclear for clean energy: Behind the U.S’s new energy effort.

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Airport Lounges Are In Their Renaissance Era

The TSA might recommend travelers to get to the airport two to three hours before a flight, but there’s only ever one group getting lined up in the security line that early — the ones with airport lounge access. Over the last decade, airport lounges have become a convenient way for frequent fliers and premium credit card holders to get free drinks, snacks, and meals among other things. And soon, there will be more options than ever.

• What’s the lounge arms race? Airport lounges have moved beyond being a commodity for frequent fliers at major airlines. Since the pandemic, explosive growth in personal travel has airlines to refresh lounges — and credit card companies have built their own lounges to attract affluent customers from competitors such as American Express. As a result, credit card companies and airlines are officially in a war for square footage in global airports; looking to offer premium amenities and spaces for travelers to wait for their flight.
• Who’s in the arena? Airlines like American, Delta, and United have had a national presence in the airline lounge game for many years, along with American Express’s Centurion and Escape Lounges. Priority Pass, which includes independent restaraunts and lounges, has also seen a surge in listings over the last few years. However, credit card giants Capital One and Chase have been making inroads in the lounge space.
• What have been the latest entrants in the lounge wars? Earlier this year, American Express opened its largest Centurion Lounge ever at Atlanta International Airport — auguring more growth for lounge-faring travelers. At the same time, Capital One and Chase have been pushing to expand their lounge collections, which have grown to five and four airports respectively. And topping that off, Delta has been going all-in on lounges for its first-class Delta One customers, which is trying to catch up with competitors United and American Airlines by launching more of the hyper-exclusive lounges.

Why does it matter for EarlyBird families?

If you live near a major hub like New York City, Denver, or Los Angeles, the lounge wars might benefit you — and increase the attractiveness of premium credit cards like the American Express Centurion ($695/yr), Chase Sapphire Reserve ($550/yr), or Capital One Venture X ($395/yr). All three offer lounge access — which could help your family relax before your flight (and help avid travelers recoup a significant portion of your annual fee.)

Alternatively, fliers who are married to one airline could embrace a premium card for status and lounge access. The United Club Infinite Card ($525/yr), the Delta Reserve Card ($650/yr), and America’s AAdvantage Executive Card ($595/yr) offer similar benefits to the creditors — but could help you accrue more points, status, and benefits when you travel that particular airline.

However, it’s worth noting: each creditor and airline has its own rules about lounge access. You might have to pay extra to bring family with you, so make sure to check out the rules before heading out.

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Big Music Labels Sue AI Startups, Alleging Copyright Infringement

Big music labels suing tech companies? No, it’s not 1999… it’s 2024. The Recording Industry Association of America (RIAA), along with three of the world’s largest music labels, is taking aim at up-and-coming generative AI startups which allow users to generate high-quality music from text. Their problem? Their models are trained on music they don’t own.

• Who’s suing who? RIAA is flanked by Warner Music Group, Universal Music, and Sony Music Entertainment. The group are suing two generative AI firms, Udio and Suno. In separate lawsuits, the old guard of music argues that the firms are committing massive copyright infringement — and they’re seeking $150,000 per infraction. That’s enough to bankrupt the two startup businesses, which have risen to prominence thanks to colorful AI-generated copycats of Drake and other top artists.
• Why do AI lawsuits matter? Many AI startups — including Udio and Suno — claim that training their models on publicly accessible data and information constitutes free use, but courts might not see it that way. Right now, there are numerous lawsuits making their way through courts — including cases levied by writers, publishers, software engineers, and other rights-holders. An adverse ruling for AI firms in one or several of these cases could dramatically affect the long-term viability of generative AI in its current form.

Why does it matter for EarlyBird families?

Regardless of the outcome of any of the outstanding AI litigation, the technology is unlikely to go anywhere. RIAA CEO Mitch Glazer stresses that the case against Suno and Udio comes down to fairness — and he says that artists, labels, and creators are embracing AI. It’s hard to know which AI tools will eventually become staples in our work, personal lives, or creative ventures, but familiarizing yourself with the tools will make it easier to adapt to the demands of a changing world. If you’re up for it, you could always try out some of the AI tools currently available with family.

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Congress Embraces Nuclear to Solve Clean Energy Shortage

America is slowly weening off fossil fuels — which are expected to be mostly exhausted by the end of the century — and embracing clean energy alternatives such as solar, wind, and hydro. However, America’s most valuable energy resource might be in the past…

From 1970 to 1990, the U.S. built over 100 nuclear reactors — which still power nearly a fifth of the country today. Those plants also deliver over half of its clean energy. And with electricity consumption expected to rise, nuclear is once again being discussed as a viable option to deliver power to homes and businesses.

• Why is nuclear making a comeback? In China, Russia, and India, energy demands are quickly rising — and burning coal and oil isn’t cutting it anymore. The three countries are building modern nuclear power plants to meet their energy demands (and the climate promises that they’ve made, too.)
• What could that look like in the U.S? Last week, in a rare moment of bipartisan solidarity, Congress passed the ADVANCE Act, which would help boost nuclear energy production by licensing nuclear reactor technology. This could help America produce more modern nuclear power plants. This could give rise to modern reactor designs — which have demonstrated promise in ongoing analysis and studies — that could help power millions of homes while being safer, less wasteful, and more reliable.

Why does it matter for EarlyBird families?

If we maintain our course for carbon emissions, not even wind or solar could help us avoid a warmer planet. In fact, May 2024 was the hottest month in recorded history — and June 2024 looks to beat that record. However, years of advocacy and science have helped America rediscover nuclear power. America’s embrace of newer nuclear reactor formats could help corral energy prices, reduce our fossil fuel dependence, and ensure a cleaner and healthier planet for future generations.

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What else is up?

• Amazon Prime Day will be Jul. 16 and 17: Amazon will celebrate the 10th anniversary of its famous annual sale in just a few weeks. Prime Day comes as low-cost Chinese competitor Temu has been claiming share in America’s e-commerce biz. See some of the early deals.
• Snapchat to roll out new safety tools: The social media website will make it harder for users to be contacted by people they don’t know — an effort meant to blunt the impact of sexual and financial exploitation on the platform. Read more in CNN.
• The S&P 500 is the most concentrated it has ever been: It’s not just you… your portfolio is looking a lot more tech-heavy. Thanks to a boom in shares of AI stock picks like Nvidia, Microsoft, and Meta, the S&P 500 is seeing a higher percent of its money invested in less companies. Find out more in Axios.

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