|  | Nasdaq | 19,447.41 | |
| | S&P | 5,967.84 | |
|  | Dow | 42,206.82 | |
| | 10-Year | 4.375% | |
| | Bitcoin | $103,555.55 | |
| | Circle | $240.28 | |
| | Data is provided by |  |
*Stock data as of market close, cryptocurrency data as of 5:00pm ET. Here's what these numbers mean. | - Markets: Like most of us, stocks spent the first day back at work after a holiday yesterday dragging, with investors mulling geopolitical risks and the Fed's next move. But Circle, the crypto company that recently went public, continued to soar, ending the week up 70% as investors bet it'll benefit from the Senate's passage of the GENIUS Act, which would establish a legal framework for dollar-backed cryptocurrencies known as stablecoins.
| |
|
|---|
AUTO If you spot a moving Tesla with no visible driver, it's probably not a stolen family car being operated by a toddler. The EV-maker is soft launching its long-promised robotaxi in Austin, TX, tomorrow, with Elon Musk saying it'll be a slow rollout because the company is "super paranoid about safety." To begin: - Ten autonomous Model Y taxis will offer rides to select Tesla influencers and employees in a geofenced area.
- The self-steering cars will have a human chaperone inside the vehicle and will be overseen by a remote operator who can intervene in case of an emergency.
Some Wall Street observers are bullish on Tesla entering its robotaxi era, with Wedbush analyst Dan Ives saying its market cap could double to $2 trillion by the end of 2026. But Tesla—which has been promising an autonomous car for years and expects them to buoy the company amid falling sales—isn't a first mover when it comes to offering rides without driver small talk. Alphabet's Waymo already operates 1,500 autonomous taxis in San Francisco, Phoenix, Los Angeles, and Austin, sharing the road with a handful of Amazon's Zoox taxis zipping around SF and Las Vegas. Tesla thinks it can lap rivals The company claims that its autonomous taxi strategy is more cost-effective than that of its competitors. - Tesla is betting that it can quickly build a robotaxi fleet by making existing Teslas driverless through updates to its driver assistance software.
- Its system uses AI and cameras, as opposed to the pricey sensors guiding Waymo's cars.
- And while Waymo and Zoox needed a costly yearslong effort to collect traffic data to train their AI, Tesla claims it can use data from its driver-operated vehicles.
Not everyone shares Musk's confidence. Federal regulators are investigating whether Tesla's driver-assistance mode played a role in several deadly crashes. Meanwhile, some experts doubt that Tesla's sensorless robotaxi tech will work smoothly, especially in low-light conditions.—SK | | |
|
|
Presented By PaceGenerative While SEO/search engine traffic is quickly fading, AI search and LLM referral traffic is rapidly growing. Need help seizing the moment? PaceGenerative helped a $130m SaaS company grow their ChatGPT/LLM referral traffic by 2x over a four-month period, and they're highlighting the actionable steps taken in this free case study. PaceGenerative notes that not only is AI traffic increasing, but it's also creating high value + conversions because LLM users are usually warmer prospects before they reach your site. In short, the search landscape has changed, and it will continue to do so. Grab PaceGenerative's free case study to stay prepped. |
|
WORLD  Fed official says rate cuts could come as soon as July. Federal Reserve Governor Christopher Waller said in a CNBC interview yesterday that he and his colleagues should consider slashing interest rates "as early as July" because he doesn't believe tariffs will significantly drive up inflation. These remarks came after he and other Fed governors voted to keep rates unchanged this week. President Trump has criticized Fed Chair Jerome Powell for refusing to lower them, but with Waller's comments, the call is now coming from inside the house. Waller noted that he wasn't speaking for the whole committee that decides, but said it was time to start thinking about a cut to avoid harming the labor market. That presents a stark contrast to the cautious tone Powell struck in a press conference earlier this week, reiterating the Fed's wait-and-see stance and expressing concerns that tariffs could still drive up prices.
 No breakthroughs in Europe's talks with Iran. European and Iranian negotiators met in Geneva yesterday in hopes of hashing out an agreement to deescalate Iran's conflict with Israel over Iran's nuclear program—which President Trump said Thursday he'd decide whether to join within two weeks to give diplomacy a chance first. But they failed to come to an agreement as Iran reportedly insisted it be allowed to continue enriching uranium. Despite ending at an impasse, the negotiations left open the possibility of more talks going forward. Meanwhile, Israel's military chief warned the public to prepare for a "prolonged" campaign in Iran.
 16 billion passwords have been exposed. And yours are probably among them, not only because that represents more login credentials than there are people on Earth, but also because they include passwords from Google, Facebook, and Apple, according to a report from Cybernews, which called it the largest data breach ever. The data is scattered across 30 different databases, so some of the information likely overlaps. The leaked information does not come directly from attacks on the companies or a single source, meaing they were probably obtained from multiple events over time, but the cybersecurity site noted that bad actors compiling the information can be as damaging as them actively trying to steal it.—AR
|
|
|
TECH No pressure, it's just a firm talking-to from His Holiness. At a Vatican AI and ethics conference yesterday, Pope Leo XIV told representatives from the world's leading tech companies that AI development needs to respect human dignity. In his message to the conference's attendees, which included representatives from Google, OpenAI, Anthropic, IBM, Meta, and Palantir, Leo said: - "Access to data—however extensive—must not be confused with intelligence."
- Despite its positive uses, AI can also "foment conflict and aggression."
- "No generation has ever had such quick access to the amount of information now available through AI."
Over the past decade, tech leaders have flocked to Rome in an effort to make the Catholic Church's top brass more amenable to AI, but the Vatican keeps calling for regulation. Leo highlighted the risks of AI in his first speech to journalists in May, picking up the mantle from his predecessor, Pope Francis, who had called for a legally binding, international AI treaty in 2023. What's in a name: The first American Pope chose the name "Leo" because of Pope Leo XIII, who supported workers' rights and unions during the robber baron era of the Industrial Revolution. With AI, the new Pope Leo said the Church is responding to "another industrial revolution."—ML | | |
|
|
Together With Boxabl Cars are built in minutes. Why not houses? How do you aim to disrupt the outdated ~$5t homebuilding industry? Like 20th-century cars: assembly-line automation. Just ask BOXABL. Their homes are factory-built, folded, shipped via truck, and unfolded on-site in one hour. It's working, too: Initial prototype delivered to SpaceX a 156-home DoD order, and active developer and consumer deliveries. Invest in BOXABL before the opportunity ends Tuesday. |
|
HARDWARE Huge news for golfers who are looking for a hands-free way to record their shot and then immediately delete upon whiffing it. After finding itself with a surprise hit with its Ray-Ban collab, Meta is releasing its first collaboration with Oakley summer, a pair of AI-enabled sunglasses geared toward athletes. Limited-edition glasses with gold-colored accents will be available for preorder starting July 11 for $499, or you can wait until later this summer for the rest of the collection, which are a bit cheaper at a starting price of $399 a pair. Just like the Meta Ray-Bans that came before them, the souped-up Oakleys can do real-time language translation, record video, play music, and answer questions. But the new glasses have even more powerful specs: - The Oakleys have nearly double the battery life at eight hours of use and a charging case that can hold 48 hours of charge.
- The camera can shoot 3K video.
- The glasses also have an IPX4 water resistance rating, which makes them pretty well suited for surprise rainstorms.
Big picture: EssilorLuxottica (which owns Ray-Ban and Oakley) announced earlier this year that the Meta Ray-Bans released in 2023 had sold 2 million pairs. The glasses conglomerate and Meta have a plan to sell 10 million pairs annually by the end of next year.—MM | | |
|
|
STAT There are two things we know about Rachel Zegler: 1) She's got a powerful set of pipes, and 2) She's no stranger to controversy (see the entire Snow White press cycle). Both are on display in her West End debut as the title character in Evita, where she sings the show's iconic song "Don't Cry for Me Argentina" from a balcony outside the theater for a crowd of non-paying onlookers, while patrons who shelled out as much as 250 pounds (~$336) for a ticket to see the musical watch a livestream inside. The moment is getting praise from critics who see it as consistent with the show's (and the real-life Eva Peron's) populism, and people are flocking below the balcony to catch the performance and capture it on their phones. But it's earning fewer plaudits from theatergoers who feel they aren't getting their money's worth. "Sorry, are you saying I've paid 350 pounds ($471) for two tickets and she's singing the biggest number outside at people who haven't paid?" one complained on social media, according to the The Hollywood Reporter. While some of the disappointed are venting their frustration at Zegler, thinking outside the box (theater) is something of a signature for the show's director, Jamie Lloyd. His current Broadway production of Sunset Boulevard features cast members belting outside in Times Square while being livestreamed into the theater, and he had Tom Holland spout Shakespeare on a roof as Romeo while drones filmed his performance before he made his entrance onstage.—AR |
|
|
Together With Bisnow Yesterday's headlines are old news. Get the stories that matter now with Bisnow's The First Draft. It's a free, daily read on what's going on right now in commercial real estate, why it matters, and how to use it to your advantage. Subscribe here. |
|
NEWS - A federal judge ordered the release of Mahmoud Khalil, a former Columbia grad student and leader of pro-Palestinian campus protests, whose arrest three months ago kicked off the Trump administration's crackdown on foreign students.
- An appeals court ruled that the president had the power to send National Guard troops to Los Angeles without going through California's governor.
- The Supreme Court refused to fast-track a case brought by toy companies challenging President Trump's tariffs. Separately, the high court upheld a law that allows American victims of terrorism in Israel and their families to sue the Palestinian Authority and Palestine Liberation Organization.
- TikTok received another 90-day extension of the deadline to sell the company or face a federal ban, so your FYP remains safe for now.
- President Trump says he's near a "'mindbogglingly' HISTORIC" settlement that could end his feud with Harvard.
- Telegram founder Pavel Durov said he will leave his fortune to all his children. That may sound pretty standard, but Durov has over 100 of them, most of whom he fathered through sperm donation.
|
|
|
PLAY Brew crossword: Today's puzzle asks you to name both a Supreme Court justice and the group that sang "Wannabe." Experience the (cultural) highs and lows here. Open House Welcome to Open House, the only newsletter section willing to admit that a 152-year-old barn is worthless unless it houses a claw machine and Dance Dance Revolution. We'll give you a few facts about a listing and you try to guess the price.  ZillowToday's property is in Glenbrook, NV, and sits on 130 acres of lakeside scenery. But not just any lake: Lake Tahoe, the epitome of private piers, where they probably require visitors to own at least three bathtub-sized Yeti coolers. Amenities include: - 9 beds, 14 baths
- Private rodeo grounds
- 14 buoys
How much for a massive Nevada ranch? |
|
|
ANSWER $188 million Word of the Day Today's Word of the Day is: plaudits, meaning "expressions of praise or approval." Thanks to Amanda from Portland, OR, for the praiseworthy suggestion. Submit another Word of the Day here. |
|
|
|
ADVERTISE // CAREERS // SHOP // FAQ
Update your email preferences or unsubscribe .
View our privacy policy .
Copyright © 2025 Morning Brew Inc. All rights reserved.
22 W 19th St, 4th Floor, New York, NY 10011 |
|
Read: 
No comments:
Post a Comment