Friday, June 5th Edition
Cory Ohlendorf
Compiled and written by
CORY OHLENDORF
Valet. Editor

I’m looking forward to a relaxing weekend of reading, recharging my batteries. But maybe I’ll do it outside and see if I spot any fireflies.
 
Let’s dive in today …

Today’s Big Story

The Firefly Craze

 

Catch ‘em while you can

 

I loved these things as a kid. We used to call them lightning bugs more than fireflies. Every summer, the Photinus carolinus species of firefly has a few weeks to flash their bioluminescent lights and mate.

Did you know they’re a type of beetle? And they’re attracting more than mates (and little children toting jars with holes in the lid). These days, their rare display is also attracting tourists by the thousands, who queue up for limited tours and compete for photo spots to capture nature at its most magical.

We’re talking about lotteries like scoring tickets to the Eras tour. The bugs’ annual emergence in the Great Smoky Mountains has become so popular that campsites sell out months in advance. This year’s lottery to get parking spots for the eight-night official viewing period attracted over 45,000 applicants. Only 960 slots were distributed.

A four-night viewing event later this month—at $325 a person per night—organized by a local biodiversity nonprofit also sold out. For those who miss out, nearby adventure park Anakeesta is building an attraction replicating the experience. And at a similar Pennsylvania Firefly Festival, tours go to different parts of the forest each year so they don’t overwhelm the bugs.

If you’re hoping to catch them closer to home, the Farmers Almanac advises that the best nights to spot them are warm, humid evenings with air temperatures in the upper 70s to 80s and little wind. These first few weeks of June are when they’re most active. But the downside to seeing a lot of them? A higher firefly population often points to a wet summer ahead, since the same damp soil that grows their prey grows everything else.

 
FYI:

Here’s how to attract fireflies to your outdoor space for a more magical summer.

Stocks Drive Record Share of American Wealth

 

One-third of Americans’ wealth is invested

At a time when the economy and inflation seem unpredictable and a tad precarious, Americans have never had more riding on the stock market. A record one-third of all household wealth in the U.S. was tied to stocks at the end of 2025, according to Federal Reserve data.

Experts say it means that the AI-driven rally is enriching Americans more than usual and exposing them to potentially painful losses from a reversal. Households and nonprofit organizations held $67.77 trillion in directly and indirectly owned equities at year-end, accounting for nearly 33% of total assets, according to the data highlighted by Axios.

In total, the country's household equity assets are massive. But those holdings aren’t spread uniformly among all Americans. The richest 10% of American households owned about 87% of that total household stock market wealth. Such an uneven distribution helps explain some of the peculiar features of the current economic and political environment.

 
Cash In:

Senator Bernie Sanders says the American public deserves a direct stake in the wealth being created by artificial intelligence.

The Post Office Hangs On

 

The agency said it could run out of money within months, but freed up enough cash to keep operating

Well this is good news, I guess. The U.S. Postal Service, confronting a bleak financial shortfall that had threatened to shut its doors entirely, has shored up its finances enough to avoid insolvency for at least “several years,” postal regulators said on Thursday.

Robert Taub, ​vice chair of the commission responsible for the Postal Service’s oversight, told a U.S. ​House subcommittee that recent actions to provide financial relief—including suspending payments to a retirement fund—had given officials more time to find a permanent solution. Reuters reports that the retirement fund is much better funded than those of other agencies and that the pause poses no immediate risk to retirees. And the letter carriers union supported the decision.

 
Meanwhile:

Beginning July 12, the price of a First-Class Mail Forever stamp will increase by 4 cents, from 78 cents to 82 cents.

Have you
heard about ...

 
 
 
 
 
 

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Today’s Member Extras

Valet. Member

Exclusive

 

Tech, Gear & AI Debriefing

The Trends You Need to Know About Right Now

 

ChatGPT’s memory is getting better, Amazon’s new warehouse robots and how to protect yourself from the Signal scam.

 

A Weekend Pairing

‘Office Romance’ + a Paper Plane Cocktail

 

Jennifer Lopez is the rom-com queen and she’s back with an old school tale that’s “refreshingly raunchy”.

 

Your Weekend Long Read

Be Kinder to Yourself

 

Learning the difference between self-care and self kindness will improve your outlook, confidence and overall well-being.

 

Today on

 

If you need one outfit to carry you through summer, start here. Relaxed tailoring, lightweight layers and versatile accessories make it ready for everything from office days to weekend plans.

 
Tip of the Day:

That stack of papers isn't going anywhere, and neither is your stagnant career if you keep procrastinating. Smart goal-setting and simple two-minute rules can break the cycle.

Morning Motto

Read more this weekend.

 

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