Let’s face it, some days the vibes are just…off. But you can ditch the doom and gloom and reclaim the day with an iconic breakfast duo from Wendy’s®.

With Wendy’s new Breakfast 2 for $3 Biggie™ Bundles, you get to call the shots. Mix and match to create the perfect pair:

• Sausage Biscuit
• Egg & Cheese Biscuit
• Small Seasoned Potatoes
• Medium Hot Coffee

And the best part? You can try a different pairing to match your mood. Your choice of any 2 of these for just $3? Um, yes please.

But act fast: Wendy’s Breakfast 2 for $3 Biggie Bundles are only available for a limited time.

Today, Instacart, the grocery delivery app that brings you ice cream and Goldfish when you’re hungover sick, goes public on the Nasdaq. The company priced its shares at $30, giving it a $10 billion valuation.

Whether Instacart pops or flops, it will be a bellwether for other startups deciding whether to ring the bell based on Wall Street’s appetite. If Instacart delivers, a new wave of IPOs could come after a lull the past year and a half.

• Chip design company Arm, which debuted last week in the year’s biggest IPO, was the first venture-capital-backed startup to go public in the US since December 2021. It may have broken the ice, but Instacart is the next big test.
• Klaviyo, a marketing and automation startup, will set its pricing tonight and open for trading tomorrow in another closely watched IPO.

But IPOs aren’t coming back the same

From 2020 to 2021, when VC money was cheap and tech IPOs were hot, the tech companies that IPO’d were mostly growth-focused unicorns that had yet to see any profits. But Instacart, which has turned a profit for the last five quarters, is something different.

However, being profitable and being valuable aren’t the same thing. In 2020, investors valued Instacart at $39 billion, its highest valuation and roughly $29 billion more than what it’s expected to be worth to investors today.

• Late-stage investors in Instacart, such as Fidelity and T. Rowe Price, stand to lose 40% or more.
• Sequoia Capital—Instacart’s largest external shareholder—was also one of its earliest. Its initial $8 million investment in 2013 is worth $1 billion today, but its later investment of $50 million in 2021 has shrunk to $12 million.

Zoom out: Instacart’s not the only company to see its value slashed as the economic climate changes. VCs and private funds are realizing that many startups were overvalued when they raised capital, and as some of those companies go public, they’re going to lose money on their initial investments.—CC

Iran releases US prisoners and gets $6 billion. Five US citizens who were held in Iranian prisons for years were freed and returned home via Qatar yesterday. This came as part of a deal that also released five Iranian prisoners in the US and allowed South Korea to hand over $6 billion it owed Iran for oil purchased before the US imposed sanctions in 2019. The US asserts that the money can only be used for humanitarian purposes, but some Iranian officials have said there are no restrictions on how it can be spent. Though the exchange did not address Iran’s nuclear program, it raises the possibility of further dialogue about that as well.

It’s time to update your iPhone. Even if you’re not willing to shell out for the 15, you can now run your phone on the latest software, iOS 17. The operating system, released yesterday, includes real-time voicemail transcription so you can screen calls, adds a safety feature called Check In that will let friends and family know you’ve made it home, and improves autocorrect so you’ll never call something “ducking awesome” again.

Canada points the finger at India for Sikh activist’s slaying. Canada’s Prime Minister Justin Trudeau said his government was investigating “credible allegations” that agents of the Indian government were responsible for the killing of Hardeep Singh Nijjar, a Canadian citizen who advocated Sikh separatism, in British Columbia in June. Trudeau said he had raised the issue directly with India’s leader, Narendra Modi, at the G20 summit last week, and yesterday, Canada expelled a top Indian diplomat. “Any involvement of a foreign government in the killing of a Canadian citizen on Canadian soil is an unacceptable violation of our sovereignty,” Trudeau said.

You can stop looking, because last night the US military found the wreck of the missing stealth fighter jet that it had enlisted the public to help it locate after the plane seemingly disappeared on Sunday in South Carolina.

The search for the $100 million F-35B Lightning II commenced after an in-flight “mishap” prompted its pilot to safely eject, according to the Marine Corps.

The missing jet attracted significantly more attention than a stealth plane usually does when the nearby military base turned to the internet for help: “If you have any information that may help our recovery teams locate the F-35, please call the Base Defense Operations Center,” Joint Base Charleston posted on X.

“How in the h*ll do you lose an F-35?” Rep. Nancy Mace of South Carolina asked on X before the debris field was found north of Charleston. It seems…

• The jet’s tracker stopped working, and the 51-foot-long Lockheed Martin craft was designed with anti-radar to be undetectable while flying.
• Since the stealth plane was in autopilot when the pilot ejected, authorities believed it could’ve kept cruising for several hours—one-upping anyone who’s ever tried to ghost ride the whip (which we do not encourage).

Big picture: The Pentagon’s F-35 program is projected to cost American taxpayers $1.7 trillion over the aircrafts’ lifetimes.—ML

The owner of what used to be the bird app and the Israeli prime minister sat down for a friendly (public) chat at a Tesla factory in California yesterday. Topics included AI, favorite books, antisemitism—and a potential X paywall.

Both were hoping to do some reputation management:

• Benjamin Netanyahu’s effort to limit the power of the Supreme Court of Israel has inspired mass protests, as critics worry it will weaken Israel’s democracy.
• Elon Musk recently threatened to sue an antisemitism watchdog, the Anti-Defamation League, blaming X’s slumping ad revenues on criticism from the org. Researchers say antisemitic speech on X doubled after Musk bought the platform.

So, Netanyahu assured the Silicon Valley audience that “Israel will be always a democratic country” and touted his role in fostering its tech economy. And Musk reiterated that he’s an anti-antisemite and claimed it’s not in X’s interest to promote hate speech.

But the biggest news to come out of the meeting between the world’s richest man and the head of state was probably that Musk wants to start charging X users “a small monthly payment” to use it, to use it, with the platform owner saying it’s the best way to weed out bots and hateful content.

A day prior…Musk kicked off his round of world leader speed dating with Turkish President Tayyip Erdogan. They discussed a potential Tesla factory in the country.—SK

Stat: Hot Strike Summer lived up to its name. Strikes and lockouts accounted for 4.1 million missed days of work last month—the highest monthly total since August 2000, according to the Wall Street Journal’s analysis of Labor Department data. The dual strikes by Hollywood writers and actors, which are still going on, played a big part in that labor unrest. And that’s before the UAW strike against the Big Three automakers started this month, so we might need a new moniker for fall strikes…we humbly suggest Pumpkin Spice Strike Season.

Quote: “If we offered at our theatres our own branded wine, too, we might name it ‘Chateau Simian’ or ‘Saint Simian’ in honor of our retail investors.”

AMC may be ready to go ape on the wine world. Adam Aron, the CEO of the movie theater chain you come to for the magic, tweeted out a poll asking what its branded vino should be called as the struggling company tries to expand beyond its core business—and perhaps offer some returns to the meme-stock “apes” who have bet on its success (and who recently got burned by changes to its stock). AMC has already successfully put its name on ready-to-eat and microwave popcorn, and it’s preparing to launch a gourmet candy line.

Read: How to cool down a city: a visual dive into Singapore’s efforts. (New York Times)

Meal prep: Buy a supermarket rotisserie chicken and eat well for a week with these chefs’ suggestions.

Feel small: The winners of this astronomy photography contest will remind you it’s a big universe out there.

See where it began: Check out the shorts that got turned into feature films, from Reservoir Dogs to The Babadook.

Watch: Our video team asks: Are fast-food companies lying to you?

Supercharge your performance: In the bedroom, that is, with Tenuto 2. Meet the only vibrator designed for him with her in mind. Banish bedroom anxiety for a powerful finish.*

Cover your bases: Cybersecurity isn’t just for heavy hitters—it helps everyone in the field, including startups. Protect your org with IT Brew’s virtual event on Sept. 28, sponsored by Dell. Save your seat.*

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Brew Mini: Becoming good at crosswords is the quickest way to win friends and influence people. Start your journey now.

Pirate trivia (obviously)

Put the five Pirates of the Caribbean movies in chronological order by release date. We’ll give you the names:

On Stranger Tides, Dead Man’s Chest, The Curse of the Black Pearl, Dead Men Tell No Tales, At World’s End

1. The Curse of the Black Pearl (2003)
2. Dead Man’s Chest (2006)
3. At World’s End (2007)
4. On Stranger Tides (2011)
5. Dead Men Tell No Tales (2017)

Word of the Day

Today’s Word of the Day is: bellwether, meaning “an indicator of trends.” Thanks to Arlene from Wahiawa, Hawaii, for the suggestion. Submit another Word of the Day here.