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Alumis Inc is a clinical-stage biopharmaceutical company focused on identifying, acquiring, and accelerating the development and commercialization of transformative medicines for autoimmune disorders. The Company leverages its proprietary precision data analytics platform, biological insights, and a team of experts with deep experience in precision medicine drug discovery, development, and immunology, to create medicines that significantly improve the lives of patients by replacing broad immunosuppression with targeted therapies. Company pipeline includes: ESK-001, TYK2, A-OO5, IRF5.

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Analisi dei segnali di allarme nel settore sanitario: cosa rivela l&#39;indicatore tecnico chiave per gli investitori. È il momento di agire?

3 titoli del settore sanitario che potrebbero crollare nel secondo trimestre

Alumis Inc

Billionaire investor Chamath Palihapitiya predicts Tesla Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) Robotaxi and Alphabet Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) Waymo will dominate the autonomous vehicle market, potentially sidelining ride-hailing giants Uber Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UBER#NASDAQ">UBER</a>) and Lyft Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LYFT#NASDAQ">LYFT</a>).
What Happened: In a Sunday post on X, Palihapitiya argued that consumer preference for driverless rides stems from privacy concerns rather than just cost considerations. &#8220;This is less about Uber or Lyft and more about a desire to ride alone without a person you don&#8217;t know who can overhear conversations or interrupt quiet contemplation,&#8221; he wrote.
The Social Capital founder emphasized that autonomous technology represents &#8220;the experience of the future,&#8221; questioning whether existing ride-hailing apps can provide sufficient value once driverless options become widespread. He sees Tesla positioned for &#8220;an obvious win&#8221; as the company scales its autonomous capabilities.
Palihapitiya&#8217;s comments followed data showing Waymo&#8217;s market penetration in San Francisco. According to YipitData, Waymo&#8217;s market share surged from nearly 0% in August 2023 to approximately 27% by April, overtaking Lyft&#8217;s 22% share while Uber maintained its lead at 53%.
He predicted neither company would have &#8220;deep incentive to work with other apps&#8221; once they understand consumer preferences for driverless over traditional ride-hailing.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">This is less about Uber or Lyft and more about a desire to ride alone without a person you don't know who can overhear conversations or interrupt quiet contemplation. Driverless is the experience of the future. The question is if the Uber or Lyft apps can provide enough… <a href="https://t.co/ouZBUPFtvX">https://t.co/ouZBUPFtvX</a>
&mdash; Chamath Palihapitiya (@chamath) <a href="https://twitter.com/chamath/status/1929290467008819289?ref_src=twsrc%5Etfw">June 1, 2025</a></blockquote>
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See Also: <a href="https://www.benzinga.com/markets/market-summary/25/06/45713715/dow-futures-slip-over-100-points-after-trump-announces-doubling-steel-tariffs-nikkei-down">Dow Futures Slip Over 100 Points After Trump Announces Doubling Steel Tariffs, Nikkei Down</a>
Why It Matters: Tesla plans to launch its robotaxi service in Austin on June 12, starting with 10-20 Model Y vehicles equipped with Full Self-Driving technology and remote supervision. However, The Future Fund&#8216;s Gary Black dismissed the launch as posing <a href="https://www.benzinga.com/tech/25/05/45687704/gary-black-says-teslas-robotaxi-launch-in-june-poses-minimal-risk-to-uber-will-offer-low-cost">minimal risk to Uber&#8217;s business model</a>.
The autonomous vehicle race intensifies as Baidu Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BIDU#NASDAQ">BIDU</a>) expands its Apollo Go service internationally, providing 1.4 million rides in the first quarter of 2025 across 15 cities globally. With over 1,000 fully driverless vehicles deployed, Baidu positions itself as the world&#8217;s <a href="https://www.benzinga.com/markets/equities/25/05/45557944/baidus-apollo-go-enters-dubai-and-abu-dhabi-ceo-robin-li-touts-global-robotaxi-lead-with-1-4-million-rides-in-q1">leading autonomous ride-hailing provider</a>.
Read Next: 
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/cannabis/25/06/45713895/bitcoin-ethereum-dogecoin-hold-steady-amid-us-china-trade-war-tensions-analyst-foresees-big-party-if-btc-reclaims-106000">Bitcoin, Ethereum, Dogecoin Hold Steady Amid US-China Trade War Tensions: Analyst Foresees &#8216;Big Party&#8217; If BTC Reclaims $106,000</a></li>
</ul>
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Ken Wolter / Shutterstock.com

Tech

BIDU

GOOG

GOOGL

LYFT

TSLA

UBER

Chamath Palihapitiya Calls Tesla An 'Obvious Win,' Says Robotaxi, Alphabet's Waymo Will Overtake Uber And Lyft

Billionaire investor Mark Cuban offers his take on why inflation hasn&#8217;t spiked to the extent that it was expected by leading economists, in response to the &#8220;Liberation Day&#8221; tariffs imposed by President Donald Trump
What Happened: On Sunday, in a post on X, Cuban said that businesses, both large and small, are scrambling to get ahead of potential tariff hikes by using their cash reserves or taking on debt to stockpile inventory.
&#8220;They borrow money or use their available cash to front-run the tariffs and buy as much inventory as they can,&#8221; he says, adding that &#8220;in many cases, they get a better price because the [manufacturer] knows the risks post tariffs.&#8221;
See Also: <a href="https://www.benzinga.com/personal-finance/management/25/06/45712701/jim-cramer-predicts-were-headed-to-prices-were-not-used-to-says-you-should-invest-at-least-50-a-month-to-tackle-financial-uncertainty">Jim Cramer Predicts We&#8217;re Headed To &#8216;Prices We&#8217;re Not Used To&#8217; – Says You Should Invest At Least $50 a Month to Tackle Financial Uncertainty</a>
However, Cuban warns that none of this &#8220;is a positive,&#8221; arguing that such an inventory strategy comes at a cost, with businesses either having to sacrifice interest income on their cash holdings or incur high borrowing costs of between &#8220;10% to 20%&#8221; to make this work.
He further highlights the risk of not having cash or constantly piling on liabilities to finance this kind of trade, hinting at significant financial strain for businesses.
The on-and-off nature of the tariffs in recent weeks makes it harder for companies to plan pricing strategies. As a result, Cuban says that many are opting not to raise prices at all. &#8220;In fact, they may even discount some as a way to clear out inventory and replenish cash or pay down expensive loans,&#8221; he says.
Cuban argues that this isn&#8217;t just an issue for small businesses, saying that &#8220;all companies&#8221; will be facing this, including giants such as Walmart Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMT#NYSE">WMT</a>). &#8220;This is why Walmart says they will be raising prices in the future,&#8221; he says.
&#8220;The variance in tariffs has made it impossible to know how to manage costs,&#8221; Cuban concludes, &#8220;this is why prices haven't gone up to this point.&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Let's talk about why inflation isn't up, as economists predicted. It's really simple. I see it in all my product based companies. 1. They borrow money or use their available cash to front run the tariffs and buy as much inventory as they can. 3, 6 months or longer. In many…
&mdash; Mark Cuban (@mcuban) <a href="https://twitter.com/mcuban/status/1929221028707705344?ref_src=twsrc%5Etfw">June 1, 2025</a></blockquote>
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Why It Matters: Leading Wall Street economists, such as Stephen Juneau of Bank of America, <a href="https://www.benzinga.com/economics/macro-economic-events/25/05/45353863/new-inflation-data-hits-tuesday-why-it-could-kill-fed-rate-cut-hopes">hold similar views</a> when it comes to inflation, saying that &#8220;larger increases are in the pipeline&#8221; owing to the front-loading of demand.
Economist David Mericle of Goldman Sachs believes that the core personal consumption expenditures inflation, or PCE inflation, <a href="https://www.benzinga.com/economics/macro-economic-events/25/05/45616116/trumps-tariffs-may-trigger-an-inflation-shock-but-not-a-lasting-one-goldman-sachs-says">will rise to 3.6%</a> by the end of 2025, from 2.8% in April. 
On Sunday, Walmart employees began sharing images of <a href="https://www.benzinga.com/news/retail-sales/25/06/45712543/us-tariff-impact-prices-surge-at-walmart-and-target-employees-say-some-jumps-top-38">price increases on Reddit</a>, with certain items surging as high as 45%. Target is known to have reported similar price hikes as a result of the tariffs. 
Renowned hedge fund manager, Bill Ackman, is however, of the view that <a href="https://www.benzinga.com/markets/equities/25/05/45213125/bill-ackman-says-inflation-has-largely-been-wrung-out-pushes-for-temporary-pause-on-china-tariffs-to-shield-us-businesses">inflation has been</a> &#8220;wrung out of the economy,&#8221; suggesting that the Federal Reserve could implement a few rate cuts towards the latter half of this year, in light of the same. 
Photo Courtesy: Kathy Hutchins On Shutterstock.com
Read More: 
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/news/topics/25/05/45711157/mark-cuban-says-taking-low-premium-high-deductible-plans-is-great-for-insurance-companies-you-know-who-its-not-good-for-you-guys">Mark Cuban Says Taking Low-Premium, High-Deductible Plans Is Great For Insurance Companies. &#8216;You Know Who It&#8217;s Not Good For? You Guys&#8217;</a></li>
</ul>

Economics

General

Mark Cuban Says These Are The Reasons Prices Haven't Risen Despite Trump's Liberation Day Tariffs And None Of Them Are Positive

Anthropic, the artificial intelligence startup backed by Amazon.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>)&nbsp; and Alphabet Inc.'s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) Google, has reportedly reached a $3 billion annualized revenue run rate, just months after <a href="https://www.benzinga.com/25/01/43127416/anthropic-gains-big-with-google-backing-aiming-for-60-billion-valuation-and-surging-ai-revenue">hitting $1 billion</a> in December 2024.
What Happened: The San Francisco-based company has seen an unprecedented growth surge, primarily driven by enterprise demand for its AI models, especially in code generation, reported Reuters, citing sources familiar with the matter.
The figure surpassed $2 billion near the end of March and reached $3 billion by the end of May, according to one of the sources.
See Also:&nbsp;<a href="https://www.benzinga.com/tech/25/05/45486639/sundar-pichai-reveals-google-parent-once-super-intensely-debated-about-buying-netflix-in-a-world-of-butterfly-effects" target="_blank" rel="noreferrer noopener">Sundar Pichai Reveals Google-Parent Once Super Intensely Debated About Buying Netflix: ‘In A World Of Butterfly Effects…'</a>
Anthropic's Claude chatbot has gained traction in the business world, even as it lags behind OpenAI's ChatGPT in consumer adoption. Web analytics data from Similarweb in April showed Claude's traffic at just 2% of ChatGPT's, the report added.
Why It's Important: OpenAI, a rival to Anthropic, is projecting more than $12 billion in total revenue by the end of 2025, up from $3.7 billion last year, the report noted, citing three people familiar with the matter.
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
&#8220;This total revenue is different from an estimated annualized figure like Anthropic&#8217;s,&#8221; the report said.
The Sam Altman-led OpenAI hasn't disclosed enterprise-specific revenue, but in May, it reported that the number of paying seats for its ChatGPT Enterprise product had increased to 3 million, up from 2 million in February, the report said.
Anthropic is currently valued at $61.5 billion <a href="https://www.benzinga.com/tech/25/03/44099466/bitcoin-ethereum-dogecoin-nosedive-as-trumps-tariff-moves-wipe-out-crypto-reserve-fueled-gains-analyst-says-breaking-through-this-barrier-will-help-btc-touch-new-highs">following a $3.5 billion funding</a> round.
Amazon has a growth score of 97.11%, according to Benzinga Edge Stock Rankings. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">Click here to see how it compares to other companies such as</a> Alphabet.
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/01230939/Screenshot-2025-06-02-at-8.37.09%E2%80%AFAM.png" alt="" class="wp-image-934470" /></a></figure>
Image via Shutterstock
Check out more of Benzinga's Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next:
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<li><a href="https://www.benzinga.com/tech/25/04/45090992/mark-zuckerberg-warns-of-serious-disadvantage-as-chinas-data-center-blitz-could-let-deepseek-leapfrog-us-ai-labs" target="_blank" rel="noreferrer noopener">Mark Zuckerberg Warns Of ‘Serious Disadvantage&#8217; As China&#8217;s Data-Center Blitz Could Let DeepSeek Leapfrog US AI Labs</a></li>
</ul>
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Media

AMZN

Amazon And Google Backed AI Startup Anthropic Reportedly Hits $3 Billion In Annualized Revenue — Where's ChatGPT-Parent OpenAI At?

Fartcoin was trading higher Sunday night, surpassing legacy meme heavyweights Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) and Shiba Inu (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>).
What happened: The Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>)-based memecoin rose over 4% in the last 24 hours to a market capitalization of $1.13 billion.
The rally helped the token reduce its weekly losses, which had reached more than 21% in the last seven days.
FARTCOIN was the most successful $1 billion-plus meme coin in the last 24 hours, outperforming DOGE and SHIB, which gained 0.51% and 0.13%, respectively.
See Also:<a href="https://www.benzinga.com/25/04/44621245/gold-backed-cryptos-match-yellow-metals-highs-following-trumps-liberation-day-shock"> </a><a href="https://www.benzinga.com/25/05/45556899/from-amazon-to-warren-buffetts-berkshire-hathawaybitcoin-is-now-bigger-than-these-wall-street-titans">From Warren Buffett&#8217;s Berkshire Hathaway To Jeff Bezos&#8217; Amazon — Bitcoin Is Now Outshining These Wall Street Titans</a>
The frivolously named cryptocurrency was the most purchased token by smart money investors, according to the on-chain tracking platform Stalkchain.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/hashtag/FARTCOIN?src=hash&amp;ref_src=twsrc%5Etfw">#FARTCOIN</a> is the most sold token by smart money in the last 24 hours <a href="https://t.co/sDISL4qN0Z">pic.twitter.com/sDISL4qN0Z</a>
&mdash; Stalkchain (@StalkHQ) <a href="https://twitter.com/StalkHQ/status/1929313259661987989?ref_src=twsrc%5Etfw">June 1, 2025</a></blockquote>
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FARTCOIN <a href="https://www.benzinga.com/trading-ideas/movers/25/04/44941248/fartcoin-soars-121-in-a-month-dwarfs-bitcoin-dogecoin-amid-trump-tariff-induced-economic-jitters">accumulated gravity-defying gains</a> in April, when the rest of the market was rocked by tariff-related downturns. The momentum continued in May as the coin hit a multi-month high of $1.60.
However, the trajectory has reversed since then, in line with the rest of the market.&nbsp;
Price Action:&nbsp; At the time of writing, FARTCOIN was exchanging hands at $1.12, up 4.07% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>.&nbsp;
Benzinga Note: Investing in meme coins is highly speculative and involves significant risk. Meme coins often lack intrinsic value and are driven by market sentiment, social media trends, and speculative trading.
Shutterstock/alfernec
Read Next:&nbsp;
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/05/45611404/anthony-scaramucci-remains-firm-on-bitcoin-as-the-best-investment-idea-even-as-the-largest-crypto-hovers-around-109000">Anthony Scaramucci Remains Firm On Bitcoin As The Best Investment Idea Even As The Largest Crypto Hovers Around $109,000</a></li>
</ul>

Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

Cryptocurrency

Movers

$DOGE

$SHIB

$SOL

DOGE

Fartcoin Outgains Dogecoin, Shiba Inu Sunday Night—What's Going On?

Leading cryptocurrencies were in the green on Sunday, stock futures dipped amid concerns that trade hostilities between the U.S. and China would resume.
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<table class="has-fixed-layout">
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 9:30 p.m. ET)</td>
</tr>
<tr>
<td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td>
<td>+0.97%</td>
<td>$105,427.19</td>
</tr>
<tr>
<td>Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td>
<td>+0.21%</td>
<td>$2,529.68</td>
</tr>
<tr>
<td>Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td>
<td>+1.00%</td>
<td>$0.1931</td>
</tr>
</tbody>
</table>
</figure>
What Happened: Bitcoin traded in the $105,000 range for most of the day, while Ethereum remained in the $2,500 range. Trading volumes for both blue-chip currencies declined significantly in the last 24 hours.
The apex cryptocurrency ended May with returns of nearly 11%, higher than the average return of 8.18% for the month. ETH surged 40.84%, snapping a five-month-long losing streak.
About $147 million was liquidated from the cryptocurrency market in the last 24 hours, with nearly equal amounts of longs and shorts erased.
Bitcoin&#8217;s Open Interest rose 1.62% in the last 24 hours. Over 50% of Binance traders with open BTC positions were long as of this writing.
The &#8220;Greed&#8221; sentiment rose sharply from 56 to 65 in the last 24 hours, as indicated by the Crypto Fear and Greed Index, implying a resurgence in buying pressure.
Top Gainers (24-Hours)
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<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 9:30 p.m. ET)</td>
</tr>
<tr>
<td>Flare (FLR)</td>
<td>+9.05%</td>
<td>$0.01899</td>
</tr>
<tr>
<td>Monero (XMR)</td>
<td>+7.54%</td>
<td>$345.71</td>
</tr>
<tr>
<td>Zcash (ZEC)</td>
<td>+6.40%</td>
<td>$53.19</td>
</tr>
</tbody>
</table>
</figure>
The global cryptocurrency market capitalization stood at $3.3 trillion, following an increase of 0.98% in the last 24 hours.
Stock futures edged lower overnight Sunday. The Dow Jones Industrial Average Futures fell 104 points, or 0.25%, as of 9:31 p.m. EDT.&nbsp; Futures tied to the S&amp;P 500 dipped 0.28%, while Nasdaq 100 Futures lost 0.40%.
This comes after President Donald Trump <a href="https://www.benzinga.com/trading-ideas/movers/25/05/45703311/us-listed-chinese-stocks-drop-after-trump-renews-trade-tensions">accused China</a> of violating an agreement with the U.S. to ease tariffs.
Nonetheless, equities enjoyed a resurgence last month, with the Dow Jones Industrial Average and the S&amp;P 500 rising 3.72% and 5.49%, respectively, on favorable <a href="https://www.benzinga.com/news/topics/25/06/45711633/trumps-tariffs-in-court-summers-stark-warning-us-china-stalemate-and-woods-reaganomics-comparison-this-week-in-economics">tariff-related developments</a>.
See More: <a href="https://www.benzinga.com/money/best-crypto-scanners">Best Cryptocurrency Scanners</a>
Analyst Notes: Widely followed cryptocurrency analyst Michaël van de Poppe anticipated a "decisive week" for Bitcoin ahead.
"If it breaks back above $106,000, the big party is about to happen," Van De Poppe predicted. "With PMI &amp; unemployment data during this week, I assume we&#8217;ll have a lot of volatility."
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Decisive week coming up for <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a>. If it breaks back above $106,000, the big party is about to happen. With PMI &amp; Unemployment Data during this week, I assume we&#39;ll have a lot of volatility. <a href="https://t.co/c4fGKTzVNq">pic.twitter.com/c4fGKTzVNq</a>
&mdash; Michaël van de Poppe (@CryptoMichNL) <a href="https://twitter.com/CryptoMichNL/status/1929276012770324485?ref_src=twsrc%5Etfw">June 1, 2025</a></blockquote>
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Cryptocurrency influencer Mando CT was optimistic about a "big" move for ETH in the week ahead.
"The reason? Our mid and low-cap alts are still down and need to catch up," the influencer said.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a> is holding strong in a good range, and I&#39;m very optimistic for another big move up this week. The reason? Our mid and low-cap alts are still down and need to catch up. <a href="https://t.co/L2vFuhHcZH">pic.twitter.com/L2vFuhHcZH</a>
&mdash; MANDO CT (@XMaximist) <a href="https://twitter.com/XMaximist/status/1929193565378265585?ref_src=twsrc%5Etfw">June 1, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Photo Courtesy: Yalcin Sonat On Shutterstock.com
Read Next:&nbsp;&nbsp;&nbsp;&nbsp;
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<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/06/45712515/miner-wars-is-not-play-to-earn-its-play-the-hashrate-says-gominings-jeremy-dreier">&#8216;Miner Wars Is Not Play-To-Earn, It&#8217;s Play-The-Hashrate,&#8217; Says GoMining&#8217;s Jeremy Dreier</a></li>
</ul>

$BTC

$ETH

Bitcoin, Ethereum, Dogecoin Hold Steady Amid US-China Trade War Tensions: Analyst Foresees 'Big Party' If BTC Reclaims $106,000

U.S. Stock futures fell on Sunday evening, starting the new month on a sobering note, amid fresh steel and aluminum tariff concerns over the weekend.
Starting with the S&amp;P 500 Futures trading at 5,896.25, down 0.33%, followed by Nasdaq Futures at 21,279.50, down 0.45%, and finally Dow Jones Futures down 0.30%, trading at 42,169.00, at the time of writing this.
This comes amid President Donald Trump&#8217;s announcement on Friday that he would be doubling <a href="https://www.benzinga.com/news/topics/25/05/45708977/trump-doubles-steel-tariffs-to-50-saying-it-will-secure-american-jobs-backs-us-steels-takeover-by-japans-nippon">tariffs on imported steel</a> to 50%, from the current 25%. The tariffs are aimed at revitalizing the domestic steel industry and protecting jobs, marking the latest escalation in Trump&#8217;s trade wars.
See Also: <a href="https://www.benzinga.com/cannabis/25/06/45713578/jerome-powell-to-step-down-x-abuzz-with-rumors-but-polymarket-bettors-are-not-buying-it">Jerome Powell To Step Down? X Abuzz With Rumors, But Polymarket Bettors Are Not Buying It</a>
The tariffs are set to take effect on Wednesday, June 4, and comes just days after Trump approved United States Steel Corp.&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/X#NYSE">X</a>) <a href="https://www.benzinga.com/news/global/25/05/45622810/japans-nippon-steel-to-acquire-us-steel-at-55-per-share-report">acquisition by Japan&#8217;s</a> Nippon Steel Corp. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/NISTF#OTC">NISTF</a>) in a $15 billion deal. 
Japan&#8217;s benchmark Nikkei 225 opened lower on Monday, down 1.37% or 521 points, trading at 37,443.59. Steel makers and export-oriented companies led the decline, while real estate, media, and communications remain on the ascent.
The U.S. Dollar Index (DXY) is down 0.2% for the day, trading at 99.1459, <a href="https://www.benzinga.com/markets/commodities/25/05/45617358/gold-demand-holds-firm-as-dollar-confidence-wavers">amid wavering confidence</a> among global investors in the currency.
The markets on Monday will be closely watching Federal Reserve Chair Jerome Powell&#8217;s speech in Washington, DC, following a <a href="https://www.benzinga.com/news/politics/25/05/45692797/trump-tells-powell-hes-making-a-mistake-by-not-cutting-rates-fed-reaffirms-independence">closed-door meeting</a> with Trump at the White House on Friday.
Investors will also be closely watching the earnings results of companies such as Campbell&#8217;s Co. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CPB#NASDAQ">CPB</a>) and Credo Technology Group Holding Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRDO#NASDAQ">CRDO</a>), which are scheduled to announce on Monday.
Photo Courtesy: Billion Photos on Shutterstock.com
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Equities

CRDO

NISTF

Dow Futures Slip Over 100 Points After Trump Announces Doubling Steel Tariffs, Nikkei Down

Mike Lindell, the CEO of MyPillow and a staunch supporter of Donald Trump, has announced his decision to testify in his own defamation trial, according to a report on Sunday. The trial, which is scheduled to commence next week, originates from a lawsuit filed in 2022 by former Dominion Voting Systems employee Eric Coomer.
What Happened: &#8220;Of course I'm gonna testify at my own trial! … I have nothing to hide. I am a former crack addict, I've always been open about that. I've always been open about everything! I'm as transparent as they come … So I have nothing to hide at this trial,&#8221; said Lindell, <a href="https://www.rollingstone.com/politics/politics-features/mike-lindell-testify-2020-election-defamation-trial-1235351834/">reported</a> Rolling Stone.
Lindell, who has been vocal about conspiracy theories surrounding the 2020 election, is accused of targeting Coomer in a disinformation campaign. Coomer claims that Lindell falsely accused him of conspiring to manipulate the election results against Trump. Despite legal advice typically advising against personal testimony in such cases, Lindell is determined to take the stand to defend his actions.
&#8220;I'm not going to incriminate myself! I've done nothing wrong,&#8221; said Lindell, according to the report. He said he would &#8220;spend every dime&#8221; he had to &#8220;save this country&#8221; and vowed to borrow money if he had to.
According to Rolling Stone, Lindell intends to argue that he was unaware of Coomer&#8217;s identity and plans to emphasize the financial repercussions of Coomer&#8217;s lawsuit on MyPillow. He asserts that the lawsuit has cost the company over $20 million in sales due to a settlement with Newsmax, which no longer features his products.
See Also: <a href="https://benzinga.com/news/24/11/41703542/mary-trump-on-trumps-lack-of-empathy-why-is-it-that-the-more-awful-things-donald-does-the-less-it-se" target="_blank" rel="noreferrer noopener">Mary Trump On Trump&#8217;s Lack Of Empathy: &#8216;Why Is It That The More Awful Things Donald Does, The Less It Seems To Matter?&#8217;</a>
Lindell&#8217;s legal team has encountered difficulties, including the use of generative AI for legal documents, which led to numerous errors. Despite these challenges, Lindell remains resolute about testifying, asserting his commitment to eliminating electronic voting machines and defending his actions as a public service.
Why It Matters: Lindell&#8217;s financial troubles have been widely reported, with MyPillow <a href="https://www.benzinga.com/news/23/10/35210261/trump-ally-my-pillow-guys-financial-woes-force-business-to-pull-tv-ads-promises-comeback">pulling its television ads</a> due to monetary difficulties. This move followed Lindell&#8217;s admission of being financially strained due to his persistent efforts to prove the 2020 election was stolen from Trump.
Moreover, MyPillow also faced a lawsuit from DHL over <a href="https://www.benzinga.com/news/24/09/40847627/mypillow-guy-mike-lindells-company-hit-with-a-lawsuit-by-dhl-over-unpaid-bills">nearly $800,000 in unpaid bills</a>. The lawsuit, filed in Hennepin County District Court, claims that MyPillow breached a contract requiring timely payments for parcel delivery services.
Photo Courtesy: Consolidated News Photos On Shutterstock.com
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This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

Politics

MyPillow Guy Mike Lindell Reportedly Plans To Testify At His Defamation Trial: 'I Have Nothing To Hide. I Am A Former Crack Addict'

On Friday, <a href="https://www.benzinga.com/general/entertainment/25/03/44532472/50-cent-once-said-he-was-thinking-like-a-harvard-guy-when-building-his-headphone-brand-but-whatever-happened-to-the-ambitious-startup-sms-audio">rapper and entrepreneur</a> Curtis &#8220;50 Cent&#8221; Jackson said he plans to personally reach out to Donald Trump to dissuade him from issuing a pardon for Sean "Diddy" Combs, should the music mogul be convicted in his <a href="https://www.benzinga.com/general/entertainment/24/05/38968131/diddy-do-it-documentary-on-embattled-rapper-snapped-up-by-worlds-biggest-streaming-platform">ongoing federal sex trafficking</a> and racketeering case.
What Happened: Speaking out on Instagram, 50 Cent criticized Diddy and said he will warn Trump against offering him clemency.&nbsp;
"I'm going to reach out so he knows how I feel about this guy," Jackson wrote, adding, "Donald doesn't take well to disrespect."
<figure class="wp-block-image size-full"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/01214142/Screenshot-2025-06-02-at-7.11.37%E2%80%AFAM.png" alt="" class="wp-image-934432" /><figcaption class="wp-element-caption">Source: Instagram</figcaption></figure>
See Also:&nbsp;<a href="https://www.benzinga.com/news/25/03/44521302/steve-jobs-warned-34-years-ago-about-america-being-hollowed-out-by-foreign-manufacturing-a-concern-t" target="_blank" rel="noreferrer noopener">Steve Jobs Warned 34 Years Ago About America Being ‘Hollowed Out' By Foreign Manufacturing — A Concern Trump Now Echoes</a>
"He would consider pardoning anyone who was being mistreated not Puffy Daddy," he added in a follow-up post, referencing past remarks Diddy reportedly made against Trump.
The comments came after Trump, when asked about a possible pardon for Diddy, told reporters, "I would certainly look at the facts. If I think somebody was mistreated, whether they like me or don't like me wouldn't have any impact."
<figure class="wp-block-image size-full"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/01214111/Screenshot-2025-06-02-at-7.11.05%E2%80%AFAM.png" alt="" class="wp-image-934431" /><figcaption class="wp-element-caption">Source: Instagram</figcaption></figure>
Why It's Important: Previously, former Death Row Records CEO Suge Knight told NewsNation he believes Diddy could receive leniency if convicted, suggesting he's got "some favors with the government," <a href="https://thehill.com/blogs/in-the-know/5327425-50-cent-says-he-will-dissuade-trump-from-potential-diddy-pardon/">reported</a> The Hill.
Trump has made headlines for issuing high-profile pardons, including for reality TV stars Todd and Julie Chrisley.
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Photo Courtesy: Jamie Lamor Thompson on Shutterstock.com
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Entertainment

Government

Legal

50 Cent Says He'll Personally Ask Trump Not To Pardon Diddy If Disgraced Rapper Is Convicted: 'Donald Doesn't Take Well To Disrespect'

Donald Trump has once again stirred controversy by sharing an unsubstantiated conspiracy theory regarding Joe Biden on Truth Social. This latest move has drawn attention due to its sensational nature and the potential implications of spreading such misinformation.
What Happened: Trump reposted a conspiracy theory on Truth Social, claiming that&nbsp;Biden was executed in 2020&nbsp;and replaced by clones or robots, as reported by&nbsp;<a href="https://www.nbcnews.com/politics/donald-trump/trump-shares-unfounded-conspiracy-theory-claiming-biden-was-executed-2-rcna210244">NBC News</a>&nbsp;on Sunday.
The original post, made by&nbsp;an anonymous user known for spreading outlandish claims, alleged&nbsp;that Biden was replaced with&nbsp;"clones, doubles" and "robotic engineered&nbsp;soulless mindless entities." Trump shared this post with&nbsp;his nearly 10 million followers&nbsp;without adding context.
The White House did not&nbsp;immediately comment on&nbsp;why Trump shared the post&nbsp;or whether he believes the claims. Trump has a history of sharing misinformation, including false claims about winning the 2020 election, which led to the Capitol riot on Jan. 6, 2021.
See Also:&nbsp;<a href="https://benzinga.com/news/topics/25/05/45709073/bono-tells-joe-rogan-that-300000-people-have-died-from-doge-led-usaid-cuts-elon-musk-calls-him-a-liar" target="_blank" rel="noreferrer noopener">Bono Tells Joe Rogan That 300,000 People Have Died From DOGE-Led USAID Cuts: Elon Musk Calls Him A Liar, Says &#8216;Zero People Have Died&#8217;</a>
Additionally, Trump has previously spread debunked theories, such as questioning Barack Obama&#8216;s birthplace and alleging Haitian immigrants were "eating the pets." His administration has also been involved in spreading conspiracy theories, including misinformation about vaccines and the so-called deep state, according to the report.
Why It Matters: The timing of Trump&#8217;s actions coincides with recent news about Biden&#8217;s health. Biden, 82, was <a href="https://www.benzinga.com/25/05/45485704/joe-biden-diagnosed-with-advanced-prostate-cancer-trump-wishes-former-president-a-fast-and-successful-recovery">diagnosed with advanced prostate cancer</a>. The cancer, which has metastasized to his bones, is described as hormone-sensitive, allowing for effective management. This diagnosis has brought Biden&#8217;s health into the spotlight, making Trump&#8217;s unfounded claims even more significant.
Photo Courtesy: Salma Bashir on Shutterstock.com
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Trump Shares Baseless Theory About Biden's Alleged Execution And Subsequent Robotic Replacement In 2020

Bettors on Polymarket were not convinced about Jerome Powell&#8217;s exit as rumors circulated that the Federal Reserve Chair would step down on Monday.
What Happened: The odds for the betting contract titled "Will Trump remove Jerome Powell in 2025?" remained unchanged at 12%, despite strong speculation on X regarding his resignation.
According to the rules, the market will resolve to "Yes" if Powell ceases to be Fed Chair before Dec. 31. Over $838,000 has been wagered on this outcome as of this writing.
Note that Polymarket, which operates on the&nbsp;Polygon (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">POL</a>) blockchain, is&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/25/03/44185814/polymarket-ceo-who-was-raided-by-the-fbi-on-allegations-of-regulatory-violations-gets-invited-to-white-house-crypto-summit" target="_blank" rel="noreferrer noopener">unavailable to U.S. residents due to regulatory restrictions</a>.
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Widely followed X handles have been amplifying rumors that Powell will resign on Monday, despite no evidence supporting this possibility yet.
The Fed didn't immediately return Benzinga's request for comment.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">JUST IN: Rumors are circulating Jerome Powell will resign on Monday and the Trump admin plans on lowering interest rates. If this happens prepare for a parabolic run.
&mdash; The ₿itcoin Therapist (@TheBTCTherapist) <a href="https://twitter.com/TheBTCTherapist/status/1929233132789604725?ref_src=twsrc%5Etfw">June 1, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Why It Matters: These developments come days after President Donald Trump <a href="https://www.benzinga.com/news/politics/25/05/45692797/trump-tells-powell-hes-making-a-mistake-by-not-cutting-rates-fed-reaffirms-independence">summoned Powell to the White House</a>. Trump informed the central bank chief that he was making a "mistake" by not lowering interest rates.
Powell maintained the Fed's independence, stating that monetary policy "will depend entirely on incoming economic information. The rates have been kept steady at 4.25% to 4.50% for the third consecutive meeting.
Tensions between Trump and the central bank over the direction of interest rate policy have persisted. <a href="https://www.benzinga.com/25/04/44940900/us-futures-dollar-jump-amid-trumps-latest-comments-on-fed-nikkei-rebounds-to-three-week-high">Trump has continuously called for further cuts</a>, arguing that inflation is no longer a pressing issue.
While Trump has taken potshots at Powell, he <a href="https://www.benzinga.com/25/04/44940900/us-futures-dollar-jump-amid-trumps-latest-comments-on-fed-nikkei-rebounds-to-three-week-high">stated earlier that he had &#8220;no intention&#8221;</a> of firing the Fed Chair.
Photo Courtesy: miss.cabul on Shutterstock.com
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$POL

Jerome Powell To Step Down? X Abuzz With Rumors, But Polymarket Bettors Are Not Buying It

ASP Isotopes Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASPI#NASDAQ">ASPI</a>) and Isotopia Molecular Imaging Ltd. have entered into a strategic agreement to secure the supply of Gadolinium-160 (Gd-160), a critical precursor isotope for producing Terbium-161 (Tb-161), an emerging medical isotope with significant potential in targeted radiotherapeutics.&nbsp;
&nbsp; This partnership addresses longstanding supply challenges for Gd-160, enabling Isotopia to advance Tb-161-based therapies for prostate cancer, neuroendocrine tumors, and other malignancies.&nbsp;

ASPI

ASP Isotopes And Isotopia Molecular Imaging Announced Strategic Agreement To Secure Gd-160 Supply For Tb-161 Radiotherapeutic Development Targeting Prostate Cancer, Neuroendocrine Tumors, And Other Malignancies

Authorities are intensifying their investigation into a violent incident in Boulder, Colorado, which has been classified as a &#8220;targeted terror attack&#8221; by the Federal Bureau of Investigation. The attack, which occurred during a pro-Israel demonstration, has raised significant concerns about the safety of community gatherings.
What Happened: The FBI and local authorities are probing a Sunday afternoon attack in Boulder, Colorado, that injured multiple individuals. According to a <a href="https://thehill.com/homenews/state-watch/5328100-boulder-attack-fbi/">report</a> from The Hill, FBI Director Kash Patel described the event as a &#8220;targeted terror attack.&#8221; The incident occurred at a pedestrian mall near 13th and Pearl streets during a peaceful pro-Israel demonstration.
Officers responded to reports of several victims and evacuated the area. A suspect was apprehended but remains unidentified publicly. The attack involved a man allegedly setting people on fire, with the exact number of injuries still unknown. The suspect was taken into custody without incident and&nbsp;transported to the hospital with&nbsp;minor injuries.
President Donald Trump has been briefed on the situation, a White House official informed NewsNation. Colorado Gov. Jared Polis (D) condemned the act as a &#8220;heinous act of terror,&#8221; while Colorado Attorney General Phil Weiser suggested it appears to be a hate crime. The attack targeted a Jewish community gathering organized by Run for Their Lives, aiming to raise awareness for hostages held in Gaza.
The Boulder Jewish community expressed their sorrow over the incident, which involved an incendiary device thrown at participants. They pledged to keep the community informed as more details emerge.
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Why It Matters: This attack in Boulder is part of a troubling pattern of violence targeting Jewish communities and individuals. 
Just days before, on May 22, two Israeli Embassy staff members were killed in a <a href="https://www.benzinga.com/news/25/05/45557408/two-israeli-embassy-staff-killed-in-shooting-near-dc-museum">shooting near the Capital Jewish Museum</a> in Washington, D.C. Homeland Security Secretary Kristi Noem labeled that incident as a &#8220;depraved&#8221; act, emphasizing the need for justice. 
Photo Courtesy: Mark Van Scyoc on Shutterstock.com
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FBI Investigating Boulder Attack As 'Targeted Terror' Incident

FanBasis, a Miami-based startup building the operating system for online entrepreneurs,<a href="https://www.prnewswire.com/news-releases/fanbasis-raises-20m-series-a-to-power-the-next-generation-of-digital-businesses-302457329.html"> announced</a> on May 20 a $20 million Series A round. The raise was led by Left Lane Capital, with support from celebrity backers including real estate entrepreneur <a href="https://www.benzinga.com/real-estate/25/02/43778989/ryan-serhant-closed-the-biggest-deal-of-his-career-for-200-million-this-is-how-the-celebrity-broker-elevated-his-business">Ryan Serhant</a>, former professional soccer player Gerard Piqué, and internet sensation group The Sidemen via Upside Ventures.
The company said in a statement that it is on a mission to transform creators into company operators. With tools that unify payments, fulfillment, customer relationship management, course and community hosting, and customer engagement, FanBasis replaces the fragmented stack of tools commonly used by digital entrepreneurs.
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<h2 class="wp-block-heading">A Unified Platform For High-Margin, Expertise-Based Businesses</h2>
FanBasis is made for internet educators, consultants, and specialists who want to turn knowledge into <a href="https://www.benzinga.com/personal-finance/25/04/44958370/1-5m-rich-but-clueless-couple-with-82k-combined-income-says-need-help-after-winning-big-reddit-explodes-over-what-they-should-do-next">income</a> and audience into enterprise, the company says.
&#8220;Creators and internet entrepreneurs don&#8217;t just need software—they need a platform that acts as a growth partner,&#8221; FanBasis founder and CEO Yash Daftary said. &#8220;Today&#8217;s creators are building real businesses, and they need infrastructure that moves as fast as they do.&#8221;
The platform enables users to sell courses, host paid communities, process payments, and fulfill services in one place. According to the FanBasis, this approach gives digital entrepreneurs clarity, control, and operational speed. Thousands of creators globally now generate tens of millions per month using FanBasis, with gross merchandise volume tripling over the last few quarters, the company says.
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<h2 class="wp-block-heading">Celebrity Investors And Institutional Backing Signal Big Bet On Digital Operators</h2>
Serhant is widely recognized for building a global real estate brand and starring in multiple television series. Joining him in the funding round is Piqué, the former soccer player who transitioned into investing.
The two are joined by The Sidemen, a U.K.-based collective that backed the company through its fund, Upside Ventures. According to the statement, Left Lane Capital led the round, adding FanBasis to a portfolio that includes breakout companies like Bilt Rewards and Talkiatry.
According to Left Lane Capital partner Matthew Miller, the firm sees FanBasis as a core pillar in the rise of knowledge-based entrepreneurship. &#8220;By focusing on this more enterprise segment, they are paving the way for a new generation of creators—those building real revenue streams around specialized skills and insights,&#8221; he said in the statement.
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<h2 class="wp-block-heading">FanBasis Plans To Accelerate Product Roadmap And Global Expansion</h2>
With fresh capital, FanBasis says it plans to scale its global reach and enhance the platform's capabilities. Initiatives include the launch of smart revenue tools, predictive analytics to identify business drivers, and one-click fulfillment features to simplify operations.
&#8220;Our goal is to take the complexity out of running a digital business, so creators can stay focused on what they do best,&#8221; said Alisha Mody, chief product officer at FanBasis. &#8220;We&#8217;re building the infrastructure layer behind modern digital businesses, helping creators operate at the level their ambition demands.&#8221;
As the internet economy continues to evolve, FanBasis is carving out a new category where creators act like CEOs, not content producers. Backed by celebrities and powerful venture companies and guided by infrastructure-first thinking, FanBasis is positioning itself at the center of the next wave in the creator economy.
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Image: Shutterstock

FanBasis Closes $20M Round Backed By Ryan Serhant, The Sidemen, And Gerard Piqué To Transform Creators Into 7-Figure Digital CEOs

Uber (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UBER#NYSE">UBER</a>) CEO Dara Khosrowshahi says the trend of Gen Z delaying or ditching driver's licenses isn't just something he sees in the data; it's happening in his own household.
<h2 class="wp-block-heading">More Teens Are Ditching the Wheel</h2>
"I'm still trying to get my son to get his driver's license," Khosrowshahi said on a recent episode of The Verge's &#8220;Decoder&#8221; <a href="https://www.theverge.com/decoder-podcast-with-nilay-patel/672087/uber-dara-khosrowshahi-waymo-ai-bus-transit-tesla-self-driving">podcast</a>. "It drives me crazy. I don't know about you, but did you get a license the minute you could drive? It was just such a thing. It was a goal in life. It represented freedom."
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Khosrowshahi pointed out that the percentage of 16- and 18-year-olds getting licenses has dropped significantly. He called it a clear sign that personal car ownership no longer holds the same value it once did. &#8220;If you look at the percentage of 16- or 18-year-olds who are getting their license, that percentage is coming down significantly,&#8221; he said. &#8220;I think it used to be two-thirds, but now it's probably in the 50 percent range.&#8221;
Asked if his son's reluctance to drive was a sign of Uber's success or that of a popular video game Fortnite, Khosrowshahi quipped, "Probably the two are mixed. I also think it's an indication of the urbanization of our populations, but I haven't actually looked into whether heavy Fortnite players are Uber users as well. I suspect they may be. Certainly Uber Eats users."
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According to the latest <a href="https://www.fhwa.dot.gov/policyinformation/statistics/2023/pdf/dl22.pdf">data</a> from the U.S. Department of Transportation, just under 4% of licensed drivers in the country are 19 or younger. That's a big drop from decades past. In 1983, 46% of all 16-year-olds had a license. By 2019, that number was 25%.
For 18-year-olds, the decline is similar: from 80% with a license in 1983 down to 58% in 2022.
<h2 class="wp-block-heading">Why Gen Z Isn't Driving</h2>
Young people are skipping licenses for a bunch of reasons. Many don't need a car to connect with friends anymore—they're online all the time. Others use ride-hailing apps like Uber and Lyft (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LYFT#NASDAQ">LYFT</a>), or stick to public transit and biking. Driving anxiety is also playing a role.
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According to a 2023 <a href="https://www.washingtonpost.com/parenting/2023/02/21/teens-not-driving/">Washington Post</a> report, aggressive driving and road rage were on the rise. Combined with <a href="https://www.benzinga.com/topic/mental-health">mental health</a> challenges, some teens now see driving as stressful, not exciting.
Gen Z's hesitance has big implications for the <a href="https://www.benzinga.com/markets/equities/25/05/45275248/uber-ceo-dara-khosrowshahi-says-average-waymo-in-austin-is-busier-than-99-of-human-drivers">future of transportation</a>, especially for a company like Uber. But Khosrowshahi sees it as a sign of change, not disaster. "Uber's freed him up," he said about his son. That flexibility is part of what Uber wants to offer more broadly.
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Image: Shutterstock

Uber CEO Says Gen Z Skipping Driving Licenses Is Real—And Personal. His Own Son Won't Get One, And It's Driving Him 'Crazy'

Jim Cramer, one of the most prominent hosts in financial television, recently celebrated the 20th anniversary of his CNBC show "Mad Money."
&nbsp;In an <a href="https://www.youtube.com/watch?v=ZegKKOVojTk&amp;t=159s">interview</a> with NBC's "Today" last month, Cramer reflected on two decades of his show and explained why he believes it resonated with the general public. He was asked to give advice on tackling financial uncertainty as Americans brace for the impact of tariffs. Cramer said when he started his show, it was not a "great time" for the economy, but investors who stayed in the market "did great." Cramer urged people to keep investing despite broader market headwinds.
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"Same thing is going to go on here," Cramer said. "Stay the course. And if it gets too crazy, just continue to stay the course. Put more money in. $50 a month. Okay? $50 a month is a great amount."
When asked where investors should put their money, Cramer said people should start with an S&amp;P fund.
"Never, ever lose faith in the country. Remember the country and the market — they&#8217;re very separate from what happens in Washington," he added.
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<h2 class="wp-block-heading">Cramer Says ‘Bad Stuff' Incoming</h2>
Cramer expects a lot of "bad stuff" in the weeks ahead due to inflation. However, he believes that it would not "last forever."
"It will be tough on the regular person because you&#8217;re not going to be making enough to cover what is basically a tax," Cramer said. "And I&#8217;m not saying Republican or Democrat. I&#8217;m just telling the truth."&nbsp;
Earlier this month, the Federal Reserve kept its benchmark lending rate unchanged, but warned that inflation could increase due to the impact of tariffs.&nbsp;
"If the large increases in tariffs that have been announced are sustained, they're likely to generate a rise in inflation, a slowdown in economic growth, and an increase in unemployment," Fed Chair Jerome Powell <a href="https://www.wsj.com/economy/central-banking/fed-keeps-rates-steady-as-tariff-uncertainty-roils-outlook-55ebe99f">said</a> at a news conference at the time.
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Atlanta Fed President Raphael Bostic said in a recent interview with <a href="https://www.youtube.com/watch?v=zdE3Dg2hw6w">CNBC</a> that the economy and policies are in a lot of flux and pointed to inflation risks.
"I worry a lot about the inflation side, and mainly because we're seeing expectations move in a troublesome way," Bostic said.
Asked whether he believes we are headed for a recession, Cramer said "absolutely not," adding that the US is poised to see strong jobs growth.
"But we&#8217;ll be headed for prices that we&#8217;re not used to seeing," he said.
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As the Worldwide Developers Conference (WWDC) looms,&nbsp;Apple Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) seems to be grappling to keep up with AI frontrunners such as OpenAI and Google, despite its best efforts.
Bloomberg's Mark Gurman, in his <a href="https://www.bloomberg.com/news/newsletters/2025-06-01/apple-s-wwdc-2025-plan-macos-tahoe-apple-intelligence-ai-ios-26-games-app-mbdlzqpz?srnd=undefined&amp;sref=TBDibEcD">latest</a> weekly "Power On&#8221; revealed that Apple&#8217;s AI platform, Apple Intelligence, has failed to meet expectations since its launch a year ago.
Initially, the platform was hailed as a potential game-changer in the AI industry, but it soon became clear that it was more about marketing than revolutionary innovation.
Features of Apple Intelligence, such as Writing Tools, Genmoji, and Priority Notifications, were found to be useful but not as groundbreaking as those offered by competitors. 
The launch of&nbsp;the new Siri voice assistant,&nbsp;a crucial element of Apple Intelligence, was put on hold indefinitely due to technical and testing problems.
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With the first anniversary of Apple Intelligence nearing, Apple is under pressure to create a buzz around AI at the WWDC on June 9. However, industry insiders predict that the conference may fall short in terms of AI. 
The recent advancements made by OpenAI and Google have heightened the competition and cemented their status as AI leaders.
Apple&#8217;s most notable AI announcement at the WWDC is likely to be the release of its Foundation Models to third-party developers, allowing them to leverage Apple&#8217;s on-device technology for lightweight tasks like text summarization.
Despite these hurdles, Apple reportedly plans to persuade consumers of its AI innovation at WWDC 2026. However, with competitors advancing swiftly, taking a year off could prove to be a gamble.
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Renowned billionaire investor&nbsp;Charlie Munger&nbsp;once shared his six rules for a happy life.
What Happened: Munger, despite facing significant personal and financial challenges early in his life, managed to transform his circumstances and achieve extraordinary success. His six rules for a happy life are a reflection of his personal experiences and observations.
One of his key principles is to avoid comparing oneself with others, particularly in terms of wealth. Munger states, &#8220;Someone&nbsp;will always be getting richer&nbsp;faster than you. This is&nbsp;no great tragedy.&#8221; He believes that envy is a path to misery and can lead to poor investment decisions.
During an interview, Munger highlights the significance of gratitude and a positive outlook on life, rather than harboring regrets and resentments. He advises people to reflect daily on the things they are grateful for and the cherished memories of loved ones.
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"Someone will always be getting richer faster than you. This is no great tragedy," Munger said.
"Life will have terrible blows in it, horrible blows, unfair blows. It doesn't matter. And some people recover and others don't," he continued. 
Financial responsibility is another vital rule. Munger recommends not spending more than one&#8217;s earnings. He also underscores the importance of reliability, learning from life&#8217;s setbacks, understanding people&#8217;s patterns, and lifelong learning.
Munger&#8217;s rules provide a unique insight into living a fulfilling life, drawn from the experiences of a man who has overcome substantial obstacles to achieve remarkable success. His principles serve as a guide for those seeking to navigate their personal and financial lives effectively.
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His emphasis on avoiding envy, particularly in financial matters, is a crucial lesson for investors. 
Munger&#8217;s advice to focus on gratitude and positivity, coupled with financial responsibility, offers a balanced approach to life and wealth management.
Munger&#8217;s rules are not just about achieving happiness but also about building resilience and learning from life&#8217;s challenges. His emphasis on understanding people&#8217;s patterns and continuous learning is a testament to his success as an investor and a person.
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Charlie Munger's Life Advice: 'Someone Will Always Be Getting Richer Faster Than You, This Is No Great Tragedy'

Entrepreneur and investor Mark Cuban has never been shy about sharing his <a href="https://www.benzinga.com/news/global/25/05/45482924/mark-cuban-sounds-alarm-on-tariffs-heres-his-4-word-warning-to-american-consumers" target="_blank" rel="noopener">opinions on business </a>and investment topics.
In a 2022 interview, Cuban shared why he's against share buybacks.
What Happened: Many public companies offer stock dividends and share buybacks to reward shareholders. Each has its own tax advantages or disadvantages and can increase the stock price.
Cuban <a href="https://x.com/SquawkCNBC/status/1557714955717206016">shared </a>his thoughts on share buybacks calling into CNBC during a segment discussing how the Inflation Reduction Act would add a 1% tax on share buybacks.
"No one is a fan of more taxes, but of all the taxes you're trying to create, I think a tax on buybacks is a good idea," Cuban said.
Cuban said he wouldn't compare it to carried tax, as it wasn't the same thing and he's not an expert there.
The entrepreneur said companies need to make decisions between share buybacks and dividends to reward shareholders.
"The old notion that share buybacks were more tax advantage for shareholders, this is just not the case any longer," he said.
Cuban also explained the difference, in his opinion, of who benefits from share buybacks.
"For share buybacks you reward the people who are leaving and selling your stock instead of rewarding the people who are keeping your stock."
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Why It's Important:&nbsp;The conversation between Sorkin and Cuban came after a recent&nbsp;<a href="https://twitter.com/mcuban/status/1557544891613384706" target="_blank" rel="noreferrer noopener">thread&nbsp;</a>from the entrepreneur on&nbsp;Twitter Inc, now known as X,&nbsp;where Cuban shared that share buybacks are not good for most employees.
"They rarely buy those shares directly from employees. And employees can't time their sales to the announcement," Cuban tweeted.
Cuban said the employees own the pricing risk when they are able to or need to sell.
Cuban suggested employers buy back the shares from the employees to eliminate their pricing risk.
"Why should a company reward shareholders who want to sell all, or reduce their holdings? You talk about misaligned incentives with the board/management and stakeholders."
Buying back stock lowers the shares outstanding, which can increase earnings per share and reward shareholders indirectly.
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This article was previously published by Benzinga and has been updated.
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Mark Cuban Once Said Share Buybacks Reward The Wrong People: 'Why Should A Company Reward Shareholder Who Want To Sell'

Renowned investor Peter Lynch once emphasized the necessity for the American public to increase their savings, citing the lack of incentives in the current system to encourage this behavior.
What Happened: Lynch underscored the need for a higher savings rate among the U.S. public. He argued that the current system does not sufficiently motivate people to save.
In an interview, Lynch noted that the U.S. currently has the highest capital gains rate in its history, in contrast to Japan, which has a zero capital gains rate and a 20% savings rate. 
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&#8220;No one&#8217;s encouraging savings,&#8221; he stated, highlighting the crucial role of savings in fueling capital investment, productivity, job creation, and improved living standards.
&#8220;For every savings of a dollar, money goes into capital investment, that yields more productivity, yields more jobs, yields better standard of living. We are not saving enough money. That&#8217;s the most single important thing people have to do, they have to save some more,&#8221; he added. 
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He also tackled the issue of short-term profit versus long-term stability in the context of corporate management. Lynch emphasized that companies need to concentrate on long-term objectives, such as enhancing products and services, and maintaining competitiveness. 
&#8220;We just can&#8217;t raise prices. That game&#8217;s over,&#8221; he said, underlining the necessity for innovation and cost reduction in various industries.
Why It Matters: Lynch&#8217;s comments come at a time when the U.S. savings rate is at a historic low. The lack of incentives to save in the current system, coupled with the high capital gains rate, is discouraging the public from saving. 
This could have far-reaching implications for the economy, as savings are a crucial driver of capital investment, productivity, and job creation. 
Furthermore, Lynch&#8217;s emphasis on long-term stability over short-term profit in corporate management underscores the need for businesses to innovate and reduce costs in order to stay competitive.
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Peter Lynch: 'We Are Not Saving Enough Money, That's The Most Single Important Thing People Have To Do, They Have To Save Some More'

In the coming months, users of Microsoft Authenticator are advised to backup their passwords as Microsoft Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) prepares for a significant overhaul of its password management system.
What Happened: Microsoft is planning to phase out the password management feature of its Authenticator app. The app, which is widely used for its two-factor authentication,&nbsp;also stores and auto fills passwords&nbsp;for various apps and websites.
Starting from&nbsp;June 1, the app will&nbsp;stop saving new passwords as&nbsp;Microsoft transitions&nbsp;password management to its Edge&nbsp;browser. By July 1, the&nbsp;autofill function will be disabled and all&nbsp;saved payment information, including credit&nbsp;card details, will be erased.
Microsoft has made it clear&nbsp;that this payment data will&nbsp;not be automatically transferred to Edge, which means users will have to manually re-enter their card details.&nbsp;By August, all previously saved&nbsp;passwords will be completely&nbsp;removed from the Authenticator app.
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Microsoft is urging users who want to continue&nbsp;using their passwords and log-ins&nbsp;after August to&nbsp;download Microsoft Edge onto their&nbsp;devices. This move is part of Microsoft&#8217;s strategy to streamline&nbsp;password access and autofill across&nbsp;all platforms using Edge's integrated&nbsp;password manager.
As the tech giant continues to innovate and evolve, users will need to adapt to these changes. 
The transition to Edge is expected to provide a more seamless and secure user experience, but it also requires users to take action to ensure their data is not lost in the process.
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