🚀 Musk continues fighting against Trump's bill

In partnership with

Learn AI in 5 minutes a day

This is the easiest way for a busy person wanting to learn AI in as little time as possible:

1. Sign up for The Rundown AI newsletter

2. They send you 5-minute email updates on the latest AI news and how to use it

3. You learn how to become 2x more productive by leveraging AI

Sign up to start learning.

Market Overview
Read time 1.4 minutes

Year To Date Performances:

1. Elon Musk launched a fierce public campaign against Donald Trump’s sweeping new tax-cut bill, calling it a “disgusting abomination” and warning it would push the U.S. into “debt slavery” by adding $5 trillion to the national debt. Just days after leaving his role as head of the Trump administration’s Department of Government Efficiency, Musk urged his millions of followers to pressure lawmakers to reject the legislation, posting repeatedly on X to “KILL the BILL.” Sources say Musk’s outrage is partly fueled by the bill’s elimination of EV tax credits, which hurt Tesla, and by recent tensions with the administration over FAA control of Starlink and a rejected NASA pick. While Trump hasn’t publicly responded to Musk’s attacks, the public fallout highlights fractures between the tech mogul and the president he briefly worked alongside.

2. Nintendo’s long-awaited Switch 2 launched Thursday to overwhelming demand. The popularity of the Switch 2 prompted store shortages, special opening hours, and midnight sales events worldwide. In Japan, over 2.2 million people entered a lottery just for the chance to buy one, and in China, JD.com reported 400,000 reservations. U.S. retailers like Best Buy and Walmart quickly sold out. The buzz has fueled hopes that the new console will rival the original Switch, which sold over 152 million units. Nintendo expects to sell 15 million Switch 2 units this fiscal year, though analysts call that figure conservative, projecting sales as high as 20 million.

3. Even under current tariff levels, the price of everyday goods like sweaters and shoes could jump significantly, nearly doubling in some cases, if retailers choose to pass those costs to consumers. A suspended 145% levy on Chinese imports would raise the price of a $30 cotton sweater to nearly $58, and a $95 pair of Vietnamese-made shoes to over $129. While many retailers say they’ll avoid raising prices for as long as possible, experts warn that profit margins are tight, and the economic burden, whether through price hikes, reduced product options, or job losses, will land somewhere.

   Headlines

   1. Trump has instituted a 12-country travel ban impacting citizens from countries such as Afghanistan, Iran, Somalia and Libya, amongst others.

   2. The 10-year Treasury yield fell after 247,000 first-time filings for jobless benefits last week, more than economists had expected.

Are you looking to grow your business? Here is how I can help: 

📱Book a Strategy Call to get 1:1 feedback on your pitch, pitch deck and/or fundraising strategy. (If you need general startup advice, then reply to this email, and I’ll let you know if/how I can help.)

Unbiased Business Insights, Every Week

Get a weekly knowledge digest of business insights from 1440’s Business & Finance newsletter. Expect concise rundowns, context-rich visuals, and curated links to keep you ahead of the finance curve. Join 1440 for crisp explanations of business trends —no MBA required.

Sign Up Here

Onwards and Upwards,

Liam Gill