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Berkshire Hathaway&#8217;s <a href="https://www.benzinga.com/news/24/05/38630719/warren-buffett-fears-the-ai-genie-thats-part-out-of-the-bottle-but-agrees-it-has-potential-to-do-goo">annual shareholder meeting on Saturday</a> started on a solemn note, with a tribute to Warren Buffett&#8217;s trusted lieutenant and friend Charlie Munger, who passed away late last year just short of his 100th birthday.
Brother From Another Mother: Signaling the start of the meeting, Buffett introduced himself and turned the attention of the audience to a photo of himself and Munger, stating that it was taken in Savannah, Georgia, early in 1982. 
&#8220;When Charlie and I first met &#8230; it was if twins who had been separated at birth were reunited,&#8221; the billionaire said.
There were a few important differences between the two legendary investors that people may have missed, he said.
&#8220;I was only interested in whether things worked, Charlie wanted to know how things worked,&#8221; Buffett said. 
Giving an example, the billionaire investor said he would turn on a switch and if the TV or light bulb went on, he could care less about what had caused it to do so. 
&#8220;Charlie, however, would want to understand every aspect of how the generator worked, how electricity traveled to his home, the merits of AC versus DC,&#8221; he said, while jokingly quipping that Munger understood electricity better than Thomas Edison ever did.
The Berkshire CEO also shared that Munger liked designing homes. When they first met in 1959, Munger was in the process of designing and constructing the house where he would reside for the rest of his life. Munger also expressed his desire to design a home for Buffett in Santa Barbara on a piece of property inherited by Berkshire, he mentioned.
Buffett said Munger&#8217;s &#8220;architectural thoughts&#8221; led to the Berkshire Hathaway of the present day. Munger first became a director of Berkshire in 1978. Buffett bought controlling interest in Berkshire through a small partnership in 1965, and Munger, at that time, did not have a penny invested in the company, he revealed. At that time, Munger told his friend that the purchase was plain dumb but also suggested what needed to be done.
Over time, the two worked together to achieve Munger&#8217;s vision, Buffett said.
 &#8220;Charlie in effect became the architect of today&#8217;s Berkshire,&#8221; the investment guru said. &#8220;The carpenters and the others, that&#8217;s me, are needed but the architect is the genius who provides the blueprint.&#8221;
&#8220;Berkshire has become a great company with a unique group of owners. The directors of Berkshire are the trusties of the structure Charlie designed. That lives beyond his lifetime and will live far beyond mine.&#8221;
See Also: <a href="https://www.benzinga.com/government/24/05/38630925/buffett-says-no-other-americans-would-have-had-to-pay-even-a-dime-in-federal-taxes-if-this-had-happe">Buffett Says No Other Americans Would Have Had To Pay Even A Dime In Federal Taxes If This Had Happened</a>
Living In Buffett&#8217;s Mind: During the meeting, there was a moment when Buffett redirected a question to his heir apparent Greg Abel, whom he accidentally called &#8220;Charlie.&#8221; The billionaire then corrected himself and said, &#8220;I&#8217;m so used to &#8230; I actually checked myself a couple of times already but I&#8217;ll slip, I&#8217;ll slip again.&#8221;
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Warren Buffett slipping up and accidentally calling Greg Abel "Charlie" may be one of the most charming and perfect honors I've seen of the recently passed Charlie Munger. You know Charlie is deep in Warren's heart. <a href="https://twitter.com/search?q=%24BRK&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BRK</a> <a href="https://t.co/gayNqPDdLD">pic.twitter.com/gayNqPDdLD</a>
&mdash; Compound248 &#x1f4b0; (@compound248) <a href="https://twitter.com/compound248/status/1786774727530336604?ref_src=twsrc%5Etfw">May 4, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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One More Day With Munger: &#8220;We always lived in a way where we were happy with what we were doing. <a href="https://www.benzinga.com/personal-finance/24/05/38619559/charlie-munger-and-a-friend-each-made-70-000-per-year-from-a-1-000-investment-60-years-ago-rakin">Charlie liked learning, he liked a wide variety of things.</a> He was much broader than I was,&#8221; Buffett said, in response to a young boy&#8217;s question as to what he would do if he had one more day with Munger.
While the two didn&#8217;t desire to be like each other, they did have a lot of fun doing a number of things, including playing golf and tennis together. More importantly, Buffett said they had as much fun or even more with things that failed. 
&#8220;Because then we really had to work and work our way out of them and and, in a sense, there&#8217;s more fun having somebody that&#8217;s your partner and digging your way out of a foxhole,&#8221; Buffett said.
He also said they did not doubt each other at any point.
&#8220;If I&#8217;d had another day with him, we&#8217;d probably do the same thing we were doing the earlier days but and we wouldn&#8217;t have wanted to know that we only had one day,&#8221; Buffett said. 
Read Next: <a href="https://www.benzinga.com/money/how-to-invest-in-startups">How To Invest In Startups</a>
Photo: Shutterstock

News

'Charlie And I:' Warren Buffett Reminisces About Late Friend, Whom He Credits As 'Architect Of Today's Berkshire'

This article was originally published on <a href="https://cannabis.net/blog/sports/what-do-athletic-trainers-and-sports-medicine-doctors-think-about-cannabis-just-cbd-okay-with-t">Cannabis.net</a>&nbsp;and appears here with permission. 
According to a recent survey of 333 medical professionals in sports medicine, there is generally a positive attitude toward CBD and cannabis. The majority of respondents believe that marijuana should no longer be considered a prohibited substance by the World Anti-Doping Agency (WADA). The study, published this month, also reveals widespread support among sports medicine physicians for the legalization of marijuana, both for recreational and medical purposes.
However, the survey identifies diverse perspectives on cannabis within the field, with age, practice type, and gender significantly influencing these views. Women, older doctors, and individuals in rural settings were found to be less inclined to support the recreational use of marijuana, as well as more likely to oppose WADA&#39;s removal of cannabis from the list of prohibited substances and the NCAA permitting CBD use among collegiate athletes.
Conversely, men and younger physicians were less prone to view marijuana as having performance-enhancing properties. These findings underscore the nuanced and varied opinions within the sports medicine community regarding CBD, cannabis, and their regulatory status in sports.
<h3>CBD Removed, Marijuana&#39;s Status Unchanged</h3>
In 2018, the World Anti-Doping Agency (WADA) removed CBD from its list of prohibited substances, but marijuana continues to be banned in competition by WADA and numerous other professional and international sports organizations.
The recent study indicates that 72% of sports medicine physicians support WADA&#39;s decision regarding cannabidiol, with 59 percent advocating for the removal of cannabis itself from the list of prohibited substances. In September, an NCAA panel recommended eliminating marijuana from the banned substances list for college athletes.
A separate study, published this month, reveals that states that legalized marijuana experienced improved recruitment for college basketball but faced adverse outcomes for football teams.
Regarding the recommendation of CBD to patients, the new study found that pediatricians, rural doctors, and academic physicians were less inclined to suggest the use of the cannabinoid compared to their counterparts in the field. Despite this, the study concludes that many sports medicine providers are endorsing CBD and cannabis products, primarily for chronic musculoskeletal and neuropathic pain. Notably, the study claims to be the first to uncover that some providers, although in a minority, recommend these products for sport-related concussions and sports performance anxiety.
<h3>CBD Gains Favor, Influenced By Safety And Cultural Shifts</h3>
The evolving cultural shift towards CBD and cannabis in sports motivates continuous research and education for sports medicine providers. Addressing athletes&#39; inquiries about the safety, dosing, and potential effects of these substances remains a priority.
Among surveyed physician members of the American Medical Society for Sports Medicine, more recommended CBD (40.8%) compared to marijuana (24.8%). The study suggests that the preference for CBD may be influenced by its overall safety profile, lack of intoxicating effects, and its widespread incorporation into mainstream consumer products, making it seem a safer option compared to cannabis and THC-containing products.
Differences in doctors&#39; perspectives on the potential drawbacks of CBD versus THC in terms of physical performance were observed, with the authors attributing these distinctions more to marketing and cultural shifts than scientific evidence. A small percentage (9.9%) of respondents believed CBD is detrimental to performance, while a larger percentage (39%) held similar views about cannabis.
The study emphasizes the unknown aspects of the ergogenic versus ergolytic effects of CBD compared to cannabis and suggests that perceptual differences may be largely attributed to marketing and advertising. The ubiquitous addition of CBD to numerous consumer products is also acknowledged as a contributing factor to the evolving distinction.
It&#39;s important to note that the study&#39;s relatively small sample size (about 7% of the American Medical Society for Sports Medicine membership) and its single-point-in-time nature limit the ability to describe changing opinions.
While WADA has maintained its ban on marijuana after a review in 2022, an opinion piece from members of the association&rsquo;s Prohibited List Expert Advisory Group in August highlighted other cannabis reforms, such as raising the allowable THC levels in an athlete&#39;s urine to accommodate consumption outside of competitions. The group emphasized that athletes requiring medicinal cannabis should seek a therapeutic use exemption due to these higher thresholds.
<h3>Push For Change Following Athlete Suspension</h3>
Advocates strongly pressed for WADA to undergo reforms following the suspension of U.S. runner Sha&rsquo;Carri Richardson from participating in Olympic events due to a positive THC test in 2021.
In response to this suspension, the U.S. Anti-Doping Agency (USADA) declared that international marijuana rules &quot;must change.&quot; Both the White House and President Joe Biden indicated their support for new policies, with congressional lawmakers echoing this sentiment.
While USADA initially expressed sympathy for Richardson and suggested a potential reevaluation of marijuana prohibition, the organization later issued a statement explicitly calling for a policy change. The organization highlighted President Joe Biden&#39;s acknowledgment that while &quot;rules are rules,&quot; there may be a need for a reassessment of the regulations.
As more states have moved to legalize cannabis, various sports organizations have taken steps to implement reform. The National Basketball Association (NBA) and its players union recently signed a collective bargaining agreement that removes marijuana from the league&rsquo;s list of banned substances, allowing players to invest in and promote cannabis brands, with certain exceptions.
In Nevada, sports regulators voted to send a proposed regulatory amendment to the governor, aiming to formally protect athletes from penalties for using or possessing marijuana in compliance with state law.
UFC announced in 2021 that fighters would no longer be penalized for positive marijuana tests. The National Football League (NFL) revised its drug testing policy significantly in 2020 as part of a collective bargaining agreement. In June, the NFL and its players union jointly announced funding for independent research on the therapeutic benefits of CBD as an alternative pain treatment for players with concussions.
The New York Media Softball League (NYMSL), featuring teams from The Wall Street Journal, High Times, and BuzzFeed, revealed a sponsorship deal with a Kentucky-based CBD company in July. This collaboration was inspired by similar moves in Major League Baseball (MLB), where certain teams, like the Kansas City Royals and Chicago Cubs, partnered with CBD businesses. MLB itself announced a league-wide partnership with a popular CBD brand last year, with Charlotte&rsquo;s Web Holdings becoming the &quot;Official CBD of MLB.&quot;
Bottom Line
The evolving landscape of attitudes toward marijuana and CBD in sports medicine reflects a nuanced interplay of regulatory shifts, cultural influences, and diverse perspectives within the medical community. As the discourse unfolds, the push for reform gains momentum, spurred by both athlete experiences and changing societal norms, paving the way for potential transformations in sports medicine practices and regulations.
This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Cannabis

Sports

General

Cannabis In Sports Medicine: Here's What Doctors Really Think

Hope Hicks, the former aide of Donald Trump, <a href="https://www.benzinga.com/general/politics/24/05/38626165/hope-hicks-testifies-on-trumps-ex-lawyer-michael-cohens-mr-fix-it-moniker-only-because-he-broke-">testified in the New York hush-money criminal case trial last week,</a> and, last Friday, former Department of Justice Attorney and law professor Andrew Weissmann delved into what has transpired so far in the case and the path forward.
Victory For Bragg: The week ended on a very high note for New York District Attorney Alvin Bragg&#8217;s office, Weissmann said. 
&#8220;I cannot stress enough how much of a big fat nail in the coffin Hope Hicks was to the Trump criminal defense,&#8221; he said. 
Hicks&#8217; statement, coming from a staunch Trump loyalist fully aware of the hush-money agreements, including those with Karen McDougal and adult film star Stormy Daniels, leaves no room for doubt, he added.
Weissmann,  who served as the assistant United States Attorney from 1991 to 2002, said Hicks was a &#8220;devastating&#8221; witness against Trump. He noted that Hicks made it clear that Trump knew of Michael Cohen&#8216;s payoff to Daniels. Her testimony also sinks Trump&#8217;s defense, as the ex-president went on record in a civil case admitting that he had reimbursed Cohen the $130,000, Weissmann added.
Hicks confirmed that Trump understood the purpose of the money was to silence Daniels, not for the purported legal fees for ongoing work by Cohen, Weissman stated.
&#8220;And Hicks&#8217; crying on the stand makes it that much clearer that she does not want to be implicating her former boss — the DA is making the case, as the J6C did, through Trump loyalists,&#8221; the legal expert said.
See Also:<a href="https://www.benzinga.com/news/24/05/38630905/did-donald-trump-deny-stormy-daniels-affair-to-shield-wife-and-firmelania-from-scandal-former-top-ai"> Did Donald Trump Deny Stormy Daniels Affair To Shield Wife Melania From Scandal? Former Top Aide Testifies In Hush-Money Trial.</a>
What Lies Ahead: Looking ahead, Bragg must prove &#8220;Trump made or caused making knowingly false business records with intent to further or conceal another crime, such as state campaign law,&#8221; Weissmann said.
So far, the defense has cited evidence of intent to conceal another crime, the DOJ veteran said. He added that, based on Hicks&#8217; testimony, it was clear that at the time Trump reimbursed Cohen, the former president was aware of the hush-money scheme.
&#8220;The knowledge of the false business records is next, which will come from Trump himself signing the repayment checks, the amounts, the timing, and the invoices falsely noting they are for current legal services versus Hicks&#8217; testimony that Trump knew of the hush money scheme at that time and Trump&#8217;s own prior admissions that he repaid Michael Cohen,&#8221; Weissmann said. 
&#8220;With that, the DA case will be done.&#8221;
&#8220;Thanks to District Attorney Alvin Bragg and his crackerjack team of experienced attorneys, we have witnessed a criminal case unfold like clockwork, building a case based on Trump-world insiders, corroborated by hundreds of tapes, emails, texts, phone records, documents, tweets and financial records,&#8221; Wesimann <a href="https://www.msnbc.com/opinion/msnbc-opinion/donald-trump-trial-hope-hicks-testimony-rcna150706">said</a> in an article he contributed to MSNBC on Saturday.
Read Next:<a href="https://www.benzinga.com/best-penny-stocks"> Best Penny Stocks</a>
Photo: Shutterstock

Politics

Legal

Media

Ex-DOJ Attorney Says Former Trump Aide's Testimony Sinks Ex-President's Criminal Defense: 'Big Fat Nail In The Coffin'

On May 1, a 51-year-old Spanish citizen was arrested upon arrival at the United Kingdom&#8217;s Manchester Airport from Los Angeles with nearly 350 pounds of marijuana stashed into eight separate suitcases that were checked in under the names of his three children, who were traveling with him.
Britain&#8217;s National Crime Agency (NCA) said the cannabis would have had a street value of at least $1.3 million if sold in the U.K. &nbsp;
&#8220;This is one of the biggest cannabis seizures we have seen at Manchester Airport in recent years," said NCA senior investigating officer Charles Lee in a <a href="https://www.nationalcrimeagency.gov.uk/news/spanish-national-charged-after-huge-manchester-airport-cannabis-seizure">press release</a>. "The drugs would have generated significant profits. NCA officers are determined to work with our partners at Border Force to stop drug smuggling and disrupt the criminal networks behind it."
Following the Wednesday arrest by Britain&#8217;s Border Force and interview by NCA investigators, Fernando Jacobo Mayans Fuster from Zaragoza, Spain was charged with importing class B drugs. No news was released about the fate or whereabouts of his three children.
<h2 class="wp-block-heading">Weed Smuggling From LAX To UK: Underworld Gangs Involved, Say Authorities</h2>
Throughout 2023, a <a href="https://www.benzinga.com/markets/cannabis/23/03/31332943/why-are-so-many-americans-getting-caught-smuggling-weed-from-lax-to-uk-brits-link-surge-to-drug-">rash of weed smuggling</a> was going on between LAX and Heathrow airports, which had British authorities baffled.
Over the course of one week in January alone,&nbsp;<a href="https://www.benzinga.com/markets/cannabis/23/01/30454502/cannabis-couriers-busted-in-heathrow-from-9-lax-flights-connected-brits-wonder-how-could-they-no" target="_blank" rel="noreferrer noopener">nine Americans were arrested with nearly 750 pounds of cannabis</a>&nbsp;flying from LAX to Heathrow, according to&nbsp;the NCA, Britain's equivalent of the FBI.
NCA officials admitted finding the sudden rise of US-based weed smuggling to be odd, though high-quality California cannabis can sell for 10 times more in the United Kingdom where adult use is illegal and medical marijuana is barely legal. The NCA has indicated that smugglers from the U.S. are likely selling their product at a premium to underworld gangs in the U.K. 
"We are working to understand how these seizures are connected, however, to get this many off the same route in such a short period of time is clearly very unusual," <a href="https://www.benzinga.com/markets/cannabis/23/03/31332943/why-are-so-many-americans-getting-caught-smuggling-weed-from-lax-to-uk-brits-link-surge-to-drug-">said</a> the NCA's senior investigating officer Darren Barr at the time.
Photo: 278 packages of cannabis in eight separate bags at Manchester Airport, courtesy of NCA

Regulations

Marijuana Bust: Spaniard Smuggles 350 Pounds Of Weed In His 3 Children's Luggage From Los Angeles To The UK

The U.S. military is facing an escalating threat from China&#39;s rapidly growing Rocket&nbsp;Force, which poses a significant risk to American bases and warships in the Pacific. The&nbsp;development has reportedly raised alarm <a href="https://www.benzinga.com/markets/asia/24/03/37905020/yellens-diplomatic-dash-second-china-visit-targets-economic-issues">among U.S. officials and military leaders.</a>
What Happened: China&#39;s Rocket Force, equipped with thousands of missiles, is a major threat to U.S. forces in the Indo-Pacific,&nbsp;<a href="https://www.businessinsider.com/us-military-china-missile-problem-getting-worse-2024-5">reported </a>Business<a href="https://www.businessinsider.com/us-military-china-missile-problem-getting-worse-2024-5">&nbsp;</a>Insider.&nbsp;The missiles, known as &quot;carrier killers&quot; and the &quot;Guam Express,&quot; could make a potential conflict in the region devastating for American forces.
The Chinese military has effectively doubled its stock of some missiles from 2021 to 2022, including medium-range ballistic missiles that could target American military bases in Japan and intermediate-range missiles that can reach Guam.
Speaking with Business Insider,&nbsp;&nbsp;Adm. John Aquilino, the current commander of the U.S. Indo-Pacific Command, referred to China as &quot;the most concerning security threat that exists.&quot;
Also Read:&nbsp;<a href="https://www.benzinga.com/news/24/04/38430009/xi-jinping-calls-for-chinese-army-to-focus-on-the-battlefield-during-visit-to-military-medical-unive?itm_source=parsely-api" rel="noreferrer noopener" target="_blank">Xi Jinping Calls For Chinese Army To &lsquo;Focus On The Battlefield&rsquo; During Visit To Military Medical University</a>
Why It Matters: China&#39;s military doctrine focuses on deterring threats and, if necessary, striking quickly and hard.&nbsp;
The country&#39;s expanding missile capabilities are part of a larger strategy to prevent the U.S.&nbsp;and its allies from gaining unrestricted access to the Pacific region. This includes potential scenarios where U.S. forces attempt to aid Taiwan during a Chinese blockade or invasion.
With these missiles, China is signaling that it could attack U.S. bases and ships in the region with little to no warning.
The U.S. Defense Department estimates China has more than 500 operational nuclear warheads, the third most in the world, and that number is expected to increase.
Experts have called for the U.S. to respond to China&#39;s challenges in a way that recognizes the scale of the threats. This includes strengthening air defenses, hardening bases in the Pacific&nbsp;and dispersing forces to avoid becoming fixed targets.
Furthermore, <a href="https://www.benzinga.com/news/23/07/33088668/us-spies-sound-alarm-on-risks-of-engaging-in-business-with-china">U.S. intelligence officials have warned</a> of the risks of doing business with China due to its updated counterespionage law. Amidst these tensions, countries like Australia are <a href="https://www.benzinga.com/news/23/09/34394492/clone-wars-china-us-conflict-may-use-ai-shark-robots-and-more">bolstering their defense capabilities</a> in the Asia-Pacific region.
Now Read:&nbsp;<a href="https://www.benzinga.com/markets/latin-america/24/04/38485754/us-seeks-to-counter-chinas-economic-clout-in-latin-america-with-new-trade-deals">US Seeks To Counter China&#39;s Economic Clout In Latin America With New Trade Deals</a>
This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" style="box-sizing:inherit; color:rgba(var(--sk_highlight,18,100,163),1); text-decoration:underline" target="_blank">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

China's Growing Missile Arsenal Is Putting US Officials On Edge

Hims &amp; Hers Health Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/hims#NYSE">HIMS</a>) stock was hit significantly on Friday following its&nbsp;CEO&#39;s public support for pro-Palestinian&nbsp;protesters.
What Happened: The company&#39;s stock plummeted by 8% during Friday&#39;s trading session due to CEO Andrew Dudum&#39;s public endorsement of pro-Palestinian campus protesters and his call for them to join his company.
The telehealth and online pharmacy services provider&#39;s stock slightly recovered 0.89% during after-hours trading.
Dudum&#39;s support for the protesters was shared on X, formerly Twitter, where he stated, &quot;Moral courage &gt; College degree.&quot;
He further encouraged those protesting against the genocide of the Palestinian people and advocating for their university&#39;s divestment from Israel.
&quot;If you&#39;re currently protesting against the genocide of the Palestinian people &amp; for your university&#39;s divestment from Israel, keep going. It&#39;s working,&quot; he added in the post.&nbsp;
Also Read:&nbsp;<a href="https://www.benzinga.com/insights/options/24/03/37853091/check-out-what-whales-are-doing-with-hims">Check Out What Whales Are Doing With HIMS</a>
&quot;There are plenty of companies &amp; CEOs eager to hire you, regardless of university discipline,&quot; Dudum said.&nbsp;
<blockquote class="twitter-tweet">Moral courage &gt; College degree
If you&rsquo;re currently protesting against the genocide of the Palestinian people &amp; for your university&rsquo;s divestment from Israel, keep going. It&rsquo;s working.
There are plenty of companies &amp; CEOs eager to hire you, regardless of university discipline.&hellip;
&mdash; andrewdudum (@AndrewDudum) <a href="https://twitter.com/AndrewDudum/status/1785630723958800607?ref_src=twsrc%5Etfw">May 1, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>Notable business figures, including Palantir co-founder Joe Lonsdale and&nbsp;radio host Jason Rantz, criticized Dudum&#39;s post. The company has yet to comment on the issue.
Why It Matters: Before this incident, <a href="http://www.benzinga.com/insights/options/24/04/38277836/unpacking-the-latest-options-trading-trends-in-hims-hers-health">deep-pocketed investors had adopted&nbsp;a bullish</a>&nbsp;approach toward Hims &amp; Hers Health Inc.
The company&nbsp;witnessed nine&nbsp;extraordinary options activities, with 66% of heavyweight investors leaning bullish.
Earlier in April, out of six analysts, the average 12-month price target for Hims &amp; Hers Health Inc. was $14.5, marking a positive shift of 26.09% <a href="http://www.benzinga.com/insights/analyst-ratings/24/04/38182102/breaking-down-hims-hers-health-6-analysts-share-their-views">from the previous average price target.</a>
However, the recent controversy surrounding the CEO&#39;s remarks could impact these bullish sentiments and projections.
Now Read:&nbsp;<a href="https://www.benzinga.com/news/earnings/24/02/37343453/these-analysts-boost-their-forecasts-on-hims-hers-after-upbeat-earnings">These Analysts Boost Their Forecasts On Hims &amp; Hers After Upbeat Earnings</a>
This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" style="box-sizing:inherit; color:rgba(var(--sk_highlight,18,100,163),1); text-decoration:underline" target="_blank">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.
Photo: Shutterstock

Markets

Hims & Hers Health, Inc. Class A Common Stock

HIMS

Hims & Hers Health CEO Under Fire After Expressing Support For Pro-Palestinian Student Protesters, Company Stock Plummets

Over the weekend,&nbsp;Elon Musk&nbsp;agreed with a sentiment shared by investment titan Warren Buffett about the <a href="https://www.benzinga.com/markets/cryptocurrency/22/05/26921540/elon-musk-laughs-at-warren-buffett-what-did-the-oracle-of-omaha-say">importance of spending time with loved ones</a>, despite their contrasting investment philosophies.&nbsp;
What Happened: On Saturday, in response to a tweet quoting Buffett&#39;s advice, &quot;Ask yourself who you&rsquo;d want to spend the last day of your life with and then meet with them as often as you can,&quot; Musk simply replied, &quot;My kids.&quot;&nbsp;
<blockquote class="twitter-tweet">My kids
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1786830299009265830?ref_src=twsrc%5Etfw">May 4, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>In June 2022, Musk&nbsp;went on X, formerly Twitter, to share his thoughts about many friends not having kids.&nbsp;He shared a clip of the 2006&nbsp;sci-fi comedy &quot;Idiocracy&quot; and asked his followers to watch the opening scene.&nbsp; He then compared the movie&#39;s introduction&nbsp;with <a href="https://www.benzinga.com/news/22/06/27778383/heres-why-elon-musk-wants-you-to-watch-idiocracy-1">his friends who are not having kids.&nbsp;</a>
Also Read:&nbsp;<a href="https://www.benzinga.com/news/earnings/24/05/38629797/berkshire-board-member-expresses-confidence-in-warren-buffetts-successor-greg-abel-he-will-run-the-">Berkshire Board Member Expresses Confidence In Warren Buffett&#39;s Successor Greg Abel: &#39;He Will Run The Companies ... In The Same Way That Warren Ran Them&#39;</a>
Apart from his children with artist Grimes, Musk is a father to <a href="https://www.benzinga.com/news/23/09/34409906/secrets-out-musk-and-grimes-welcome-third-baby-according-to-upcoming-biography">six children from his marriage </a>with Canadian writer&nbsp;Justine Wilson.&nbsp;Their firstborn,&nbsp;Nevada Alexander, died from&nbsp;sudden infant death syndrome&nbsp;when he was just 10 weeks old.
Musk also fathered twins with Neuralink executive&nbsp;Shivon Zilis&nbsp;through in vitro fertilization (IVF).
Why It Matters: Buffett, chairman of Berkshire Hathaway, is renowned for his simple and down-to-earth approach to business and investing.
His emphasis on long-term thinking, value creation, and personal values, including the importance of love and relationships, has earned him a reputation as one of the <a href="http://www.benzinga.com/news/23/03/31512478/warren-buffetts-success-mantra-the-amount-you-are-loved-is-the-ultimate-measure-of-success-in-life">world&#39;s most trustworthy and respected business leaders</a>.&nbsp;
Musk&#39;s acknowledgment of Buffett&#39;s wisdom underscores the importance of balancing professional success with personal relationships, a sentiment that resonates with many high-profile business leaders.
Now Read:&nbsp;<a href="https://www.benzinga.com/news/22/04/26439359/elon-musk-tweets-on-pandemic-baby-bust-why-a-lack-of-kids-is-the-real-problem">Elon Musk Tweets On Pandemic Baby Bust: Why A Lack Of Kids Is The Real Problem</a>
This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo: Shutterstock

Social Media

Health Care

Elon Musk Shares Who He'd Want To Spend His Last Moments With In Response To Warren Buffett's Advice

<h2 class="wp-block-heading">San Diego&#8217;s New Equity Cannabis Program</h2>
The County of San Diego introduced a <a href="https://www.countynewscenter.com/new-cannabis-program-to-address-inequity-in-unincorporated-area/">new equity program</a> aimed at addressing historical inequities in cannabis business ownership. The initiative focuses on helping individuals negatively impacted by the so-called <a href="https://www.benzinga.com/topic/war-on-drugs">War on Drugs</a> in unincorporated areas. The program includes two key components: the <a href="https://www.benzinga.com/topic/social-equity">social equity </a>entrepreneurs and social equity beneficiaries, both designed to support those affected by past cannabis criminalization. The program&#8217;s design reflects feedback from a Social Equity Assessment in which participants can receive assistance such as business and technical support, legal services and grants. County officials emphasize the program&#8217;s role in addressing the harms caused by unjust punishment. 
<h2 class="wp-block-heading">Early Cultivation in Minnesota</h2>
Minnesota is setting the record straight, allowing early cultivation of recreational cannabis through an amendment to its law. The state aims to ensure a sufficient supply when <a href="https://www.benzinga.com/markets/cannabis/24/04/38339494/cannabis-retail-in-minnesota-house-passes-bill-to-accelerate-marketplace-aiming-for-early-rollou">retail sales begin</a>, which was a<a href="https://www.startribune.com/under-pressure-from-advocates-minn-legislators-debate-proposal-to-allow-early-marijuana-growing/600362875/?refresh=true"> huge concern among cannabis advocates</a>. The proposal allows certain growers, particularly social equity applicants, to start cultivating cannabis under existing medical cannabis rules. The amendment is a response to the problem generated by the decision to provide simultaneous licensing for all sectors. State Senator Lindsey Port (D), who supports the proposal, <a href="https://radiomankato.com/state-responds-to-commercial-cannabis-growers-who-say-they-need-to-plant-now/">argues </a>that using the existing medical rules would enable quick market implementation while maintaining a focus on equity.
<h2 class="wp-block-heading">South Carolina&#8217;s Medical Marijuana Bill</h2>
<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/02/37017713/south-carolinas-medical-marijuana-bill-prohibits-smoking-limiting-economic-growth-o">South Carolina&#8217;s Compassionate Care Act</a>, which aims to legalize medical marijuana <a href="https://www.southcarolinapublicradio.org/sc-news/2024-05-01/legis-medicalmarijuana">faces delays </a>as the legislative session winds down. Despite earlier progress in the Senate, the bill, championed by Republican State Senator Tom Davis remains stuck in a House committee. The bill proposes tightly regulated medical marijuana use for specific conditions. Opposition from law enforcement, particularly concerns about federal approval, has contributed to the bill&#8217;s challenges. Davis, who has advocated for medical cannabis for a decade, remains hopeful for a House vote, but time is running out.
<h2 class="wp-block-heading">Vermont&#8217;s Overdose Prevention Center</h2>
The <a href="https://www.benzinga.com/topic/vermont">Vermont </a>Senate has given <a href="https://www.mynbc5.com/article/vermont-senate-gives-first-green-light-to-overdose-prevention-centers/60662149">preliminary approval</a> to a bill creating an overdose prevention site in Burlington. The bill, which previously passed in the House, has faced emotional debate. Supporters argue that the site will provide critical help to all ages, while opponents say they&#8217;re concerned about the lack of age restrictions. The site aims to offer assistance to individuals in vulnerable moments, with staff providing information and support. The bill&#8217;s progress highlights Vermont&#8217;s evolving approach to drug-related issues, which is unique in drug policy at an international level.
<h2 class="wp-block-heading">US: Public Support for Cannabis Banking Reform</h2>
Community bankers meeting in Washington, D.C. <a href="https://www.icba.org/newsroom/news-and-articles/2024/04/25/as-community-bankers-gather-in-washington-new-polling-shows-public-support-for-policy-priorities">highlighted </a>public support for <a href="https://www.benzinga.com/markets/cannabis/23/09/34958558/exclusive-the-safer-banking-act-is-a-long-awaited-first-step-towards-the-economic-legitimacy-of-">cannabis banking reform</a>. Polling data shows that 64% of Americans believe the SAFER Banking Act, which allows cannabis-related businesses access to the banking system, would improve public safety. Additionally, 54% agree that opening the banking system to cannabis-related businesses would benefit underserved communities. This support underscores the growing consensus around integrating cannabis businesses into the financial system.

Government

Cannabis Reg Update: San Diego New Equity Program, Early Cultivation In Minnesota, South Carolina Delays Medical Bill And More

A second &quot;black book&quot; believed to be owned by the late financier Jeffrey Epstein, containing 221 previously undisclosed names, <a href="https://www.benzinga.com/news/23/06/32913836/jpmorgans-connections-to-sex-offender-jeffrey-epstein-detailed-in-report">is set to be auctioned off.</a>
What Happened: According to a report <a href="https://www.thedailybeast.com/for-sale-jeffrey-epsteins-second-black-book-of-the-rich-and-famous?ref=home?ref=home">by </a>the<a href="https://www.thedailybeast.com/for-sale-jeffrey-epsteins-second-black-book-of-the-rich-and-famous?ref=home?ref=home">&nbsp;</a>Daily Beast, the book could fetch up to $200,000 or more. The identities of the bidders will be kept confidential.
The book, found on Fifth Avenue in the East Village by a female musician in the 1990s, lists 349 people, 221 of whom were not mentioned in Epstein&#39;s more infamous &quot;black book.&quot;&nbsp;
None of the individuals named in the book have been charged with any crime related to Epstein.&nbsp;
The auction by Alexander Historical Auctions will include a forensic examiner&rsquo;s report verifying the book&#39;s authenticity. The auction is scheduled for May 15.
Bill Panagopulos, owner of the auction house, estimates the book&#39;s value to be between $100,000 and $200,000.
In 2015, Gawker leaked the contents of Epstein&rsquo;s first-known&nbsp;black book, which included names such as Michael Bloomberg, Bill Clinton, Donald Trump, Mick Jagger&nbsp;and Prince Andrew. All have denied any wrongdoing related to Epstein. This second book, which is older and is now going up for auction, includes names such as Melania Trump&#39;s friend and New York Jets co-owner&nbsp;Suzanne&nbsp;Ircha&nbsp;(now Suzanne Johnson), Carl Icahn, Chris Cuomo&#39;s wife&nbsp;Cristina Greeven, Jill Harth (who alleged that she was sexually assaulted by Donald Trump) and billionaire&nbsp;John Catsimatidis, according to the Daily Beast.&nbsp;
Also Read:&nbsp;<a href="https://www.benzinga.com/news/23/06/32704251/convicted-sex-offender-jeffrey-epstein-made-fake-phone-call-to-dead-mother-before-suicide-at-manhatt">Convicted Sex Offender Jeffrey Epstein Made Fake Phone Call To Dead Mother Before Suicide At Manhattan Prison</a>
Epstein was found dead in his Manhattan federal jail cell in 2019 while awaiting trial on sex trafficking charges. His death was ruled a suicide.
Why It Matters: This auction comes amid&nbsp;a series of events related to Epstein&#39;s notorious past.
In April 2023, Ghislaine Maxwell, Epstein&#39;s associate, appealed her 20-year sentence for her role in <a href="https://www.benzinga.com/general/entertainment/22/06/27557540/musk-says-he-wants-to-see-epstein-maxwell-client-list-twitterati-cant-stop-trolling-him-3">Epstein&#39;s sex trafficking ring.&nbsp;</a>
In May 2023, Tesla owner <a href="http://www.benzinga.com/general/23/05/32410434/elon-musk-subpoenaed-in-us-virgin-islands-jeffrey-epstein-related-case-against-jpmorgan">Elon Musk was subpoenaed by the U.S. Virgin</a> Islands for documents related to Epstein&#39;s case against JPMorgan.
Now Read:&nbsp;<a href="https://www.benzinga.com/news/24/04/38479082/elon-musk-gives-one-word-response-to-joe-bidens-dig-at-donald-trump-at-white-house-correspondents-di">Elon Musk Gives One-Word Response To Joe Biden&#39;s Dig At Donald Trump At White House Correspondents&#39; Dinner</a>
This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" style="box-sizing:inherit; color:rgba(var(--sk_highlight,18,100,163),1); text-decoration:underline" target="_blank">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.
Photo: Wikimedia Commons

Jeffrey Epstein's Second 'Black Book' Is Up For Sale — And It Contains The Names Of Over 200 Previously Undisclosed People, Including Carl Icahn

The weekend was filled with intriguing stories, from former President Donald Trump&#8217;s views on presidential immunity to Elon Musk&#8217;s stance on the lab leak theory. We also saw developments in international relations, with a North Korean missile landing in Ukraine and Russian troops entering a US military base in Niger. Let&#8217;s dive into the details.
Trump&#8217;s Views on Presidential Immunity
In a recent interview with Time, former President Donald Trump discussed the potential prosecution of President Joe Biden, contingent on the Supreme Court's decision on presidential immunity. Trump suggested that Biden could be prosecuted for various acts, including mishandling situations in Afghanistan and Ukraine, and causing disorder at the U.S. border. He also emphasized the importance of presidential immunity, arguing that without it, the presidency would be reduced to a ceremonial role. <a href="https://www.benzinga.com/news/24/04/38539108/trump-says-if-supreme-court-decides-president-doesnt-get-immunity-then-biden-will-be-prosecuted-for">Read the full article here.</a>
Musk Supports Lab Leak Theory
Elon Musk, CEO of Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), has seemingly supported Rep. Jim Jordan (R-Ohio) in his criticism of the Joe Biden administration's alleged suppression of the lab leak theory. Musk reacted to Jordan's thread on X, formerly Twitter, where Jordan spoke about the Biden White House's alleged censorship of the lab leak theory, which suggests that the COVID-19 virus may have originated from a laboratory in Wuhan, China. <a href="https://www.benzinga.com/news/24/05/38572315/elon-musk-finds-smoking-gun-constitutional-violation-as-jim-jordan-challenges-mark-zuckerbergs-faceb">Read the full article here.</a>
See Also: <a href="https://www.benzinga.com/news/24/04/38539108/trump-says-if-supreme-court-decides-president-doesnt-get-immunity-then-biden-will-be-prosecuted-for?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump Says If Supreme Court Decides President Doesn&#8217;t Get Immunity Then Biden &#8216;Will Be Prosecuted For All</a>
North Korean Missile Lands in Ukraine
A missile that landed in Kharkiv, Ukraine, on Jan. 2, has been identified as a North Korean Hwasong-11 series ballistic missile by United Nations sanctions monitors. The UN sanctions monitors presented their findings to a Security Council committee, confirming that the missile debris found in Kharkiv was from a North Korean Hwasong-11 series missile, violating the arms embargo on North Korea. <a href="https://www.benzinga.com/news/24/04/38521425/un-confirms-north-korean-ballistic-missile-landed-in-ukraines-kharkiv-in-january-amid-war-with-russi">Read the full article here.</a>
Hillary Clinton Warns of a More Severe Trump Presidency
Former Secretary of State Hillary Clinton warns of a more severe Trump presidency, citing his recent interviews with Time. Clinton shared a post on X, formerly Twitter, highlighting the potential dangers of a second Trump presidency. She quoted an excerpt from a Time article, which detailed Trump's plans for a potential future term. <a href="https://www.benzinga.com/news/24/04/38539846/hillary-clinton-on-another-trump-presidency-it-wouldnt-be-as-bad-as-it-was-last-time-it-would-be">Read the full article here.</a>
Russian Troops Enter US Military Base in Niger
Russian military personnel have reportedly entered an airbase in Niger, which also houses U.S. troops. This move comes after the junta in Niger ordered the expulsion of U.S. forces. A senior U.S. defense official revealed to Reuters that Russian military personnel have entered Airbase 101 in Niger, where U.S. troops are stationed. <a href="https://www.benzinga.com/news/24/05/38607615/russian-troops-enter-us-military-base-in-niger-amid-rising-tensions">Read the full article here.</a>
Read Next: <a href="https://www.benzinga.com/news/24/05/38628322/elon-musk-reacts-after-house-report-reveals-mark-zuckerbergs-meta-and-others-were-pressured-by-white?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Reacts After House Report Reveals Mark Zuckerberg&#8217;s Meta And Others Were Pressured By White Hou</a>
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Global

TSLA

Russian Troops Enter US Military Base In Niger, Trump's Views On Presidential Immunity And More: Top Political Updates

The past week was a rollercoaster ride for the financial world, with the Federal Reserve&#8217;s stance on inflation and interest rates taking center stage. The week also saw a cooling job market and renowned economist Peter Schiff&#8217;s critique of the Fed&#8217;s policies. Here&#8217;s a quick recap of the top stories.
Fed&#8217;s High Interest Rates Need More Time: Bank of America According to Bank of America&#8217;s U.S. economist Michael Gapen, the Federal Reserve&#8217;s lack of confidence in reducing interest rates due to recent inflation surprises has led to a scenario of higher-for-longer interest rates. The focus now shifts to the Fed&#8217;s future policy actions, particularly regarding potential rate cuts. <a href="https://www.benzinga.com/general/macro-notification/24/04/38491988/federal-reserve-meeting-preview-high-interest-rates-need-more-time-to-work-bank-of-ame">Read the full article here.</a>
Wall Street Braces for Hawkish Shift on Inflation Investors are on edge as policymakers meet following a slew of higher-than-anticipated inflation readings that have dashed hopes for near-term interest rate cuts. The focus now shifts to the central bank's stance, specifically concerning the potential scope and timing of an anticipated rate-cutting cycle. <a href="https://www.benzinga.com/general/macro-notification/24/04/38526201/is-hawkish-shift-on-inflation-imminent-wall-street-analysts-traders-brace-for-fed-impa">Read the full article here.</a>
See Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/38624536/federal-reserve-dismisses-rate-hike-fears-labor-market-cools-apple-lures-investors-?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Federal Reserve Dismisses Rate Hike Fears, Labor Market Cools, Apple Lures Investors With Record-Breaking</a>
Powell Reassures Market, Says Interest Rate Hike &#8216;Unlikely&#8217; Federal Reserve Chair Jerome Powell emphasized the need to allow more time for restrictive monetary policies to bring inflation toward the Fed's 2% goal. Addressing concerns about potential rate hikes due to recent inflationary pressures, Powell said it&#8217;s unlikely that the next policy rate move will be a hike. <a href="https://www.benzinga.com/markets/equities/24/05/38563545/powell-keeps-hawks-at-bay-says-interest-rate-hike-unlikely-stocks-gold-rally-while-treasury-yiel">Read the full article here.</a>
April Job Market Performance Misses Expectations The U.S. labor market&#8217;s performance in April missed expectations, providing some evidence of cooling economic momentum and potentially leaving the door open for interest rate reductions later this year. U.S. employers added 175,000 nonfarm payrolls in April, marking a reduction from the upwardly revised 315,000 reading in March. <a href="https://www.benzinga.com/economics/macro-economic-events/24/05/38612469/job-market-cools-in-april-payrolls-miss-forecasts-wages-rise-less-than-expected">Read the full article here.</a>
Peter Schiff Criticizes Jerome Powell&#8217;s Dismissal of Stagflation Concerns Renowned economist Peter Schiff expressed skepticism over Federal Reserve Chair Jerome Powell's dismissal of stagflation concerns. Schiff criticized Powell's inability to recognize the signs of stagflation, comparing this to previous Federal Reserve misstatements. <a href="https://www.benzinga.com/news/24/05/38571216/peter-schiff-blasts-jerome-powell-for-not-seeing-the-stag-in-stagflation-same-type-of-blindness-that">Read the full article here.</a>
Read Next: <a href="https://www.benzinga.com/news/24/05/38571981/ray-dalio-gives-a-nod-to-larry-summers-contention-that-federal-reserve-in-a-treacherous-environment?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Ray Dalio Gives A Nod To Larry Summer&#8217;s Contention That Federal Reserve In A &#8216;Treacherous Environment&#8217;: &#8216;</a>
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Economics

Fed's Stance On Inflation, Job Market Performance, And Peter Schiff Slamming Jerome Powell: Top Economic Updates This Week

This week was buzzing with news from the tech and investment world. From Elon Musk&#8217;s mixed feelings about AI investment to Cathie Wood&#8217;s significant trades, there was no shortage of excitement. Intel Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>) gained favor among Redditors, while Mark Zuckerberg was notably missing from a new AI Safety Institute. Meanwhile, tech reviewer MKBHD had some strong opinions about a new AI device. Let&#8217;s dive into the details.
Elon Musk Reacts to AI Investment Forecast
Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) CEO and xAI founder Elon Musk expressed both excitement and concern over the future of AI investment. This reaction came in response to Peter Diamandis, an engineer at the Massachusetts Institute of Technology and Executive Chairman of Singularity University, who stated that we are currently at a "fraction of 1% in AI investment.&#8221; <a href="https://www.benzinga.com/news/24/05/38545003/elon-musk-reacts-as-mit-engineer-says-were-at-fraction-of-1-in-ai-investment-imagine-whats-about-to">Read the full article here.</a>
Cathie Wood&#8217;s Ark Invest Makes Significant Trades
In other investment news, Cathie Wood's Ark Invest scooped up over $4M worth of shares in Palantir Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NYSE">PLTR</a>) and Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>). The move comes ahead of Palantir's Q1 earnings report, scheduled for May 5, 2024. <a href="https://www.benzinga.com/markets/equities/24/04/38509278/cathie-woods-ark-invest-scoops-up-over-4m-worth-of-palantir-meta-platforms-shares">Read the full article here.</a>
See Also: <a href="https://www.benzinga.com/news/24/05/38614138/have-you-used-siri-lately-elon-musk-answers-mkbhd-after-tim-cook-teases-exciting-ai-developments-fro?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">&#8216;Have You Used Siri Lately?&#8217; Elon Musk Answers MKBHD After Tim Cook Teases &#8216;Exciting&#8217; AI Developments</a>
Intel Gains Popularity Among Redditors
Despite recent setbacks, Intel Corp. has sparked interest among Reddit's value investing community. Investors are intrigued by Intel's potential for a turnaround and long-term growth, viewing it as a &#8216;high uncertainty, low risk&#8217; stock play. <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/05/38563400/intel-gains-favor-with-redditors-over-nvidia-amd-as-high-uncertainty-low-risk-stock-play">Read the full article here.</a>
Zuckerberg and Musk Missing from AI Safety Institute
In a surprising revelation, Yann LeCun, chief AI scientist at Meta Platforms, revealed that CEO Mark Zuckerberg was not included in the new AI Safety Institute led by President Joe Biden&#8217;s administration. Musk was also absent from the list. <a href="https://www.benzinga.com/news/24/04/38488085/metas-chief-ai-scientist-reveals-mark-zuckerberg-was-snubbed-from-bidens-ai-safety-institute-elon-mu">Read the full article here.</a>
MKBHD Reviews the Rabbit R1
Finally, renowned tech reviewer Marques Brownlee, known as MKBHD, posted a review of a new AI device, the Rabbit R1. He described the device as "barely reviewable," expressing skepticism about its capabilities. <a href="https://www.benzinga.com/news/24/04/38512965/youtube-tech-reviewer-mkbhd-deems-rabbit-r1-barely-reviewable-after-humane-ai-pin-takedown-its-just">Read the full article here.</a>
Read Next: <a href="https://www.benzinga.com/news/24/05/38574286/palantir-ceo-says-american-tech-industry-maximally-tolerant-of-any-personality-im-like-a-hyper-inexp?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Palantir CEO Says American Tech Industry &#8216;Maximally Tolerant&#8217; Of Any Personality</a>
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Tech

INTC

PLTR

Elon Musk, Mark Zuckerberg Missing From AI Safety Board, MKBHD Reviews Rabbit R1 And More: This Week In AI News

In 2019, Aseem K Thakur had a fireside-chat with Robert Kiyosaki, the renowned author of &#8216;Rich Dad Poor Dad,&#8217; and his team of advisors. Thakur later shared the top five lessons he <a href="https://www.linkedin.com/pulse/5-lessons-i-learned-hosting-robert-kiyosaki-aseem-k-thakur">learned</a> from the session, which might change your perspective toward life.
The Transformative Power Of Giving Back&nbsp;
During the session, Kiyosaki spoke about the power of giving back to society. He said although most people believe in God, they don't trust in God, which is why they never give. One of Kiyosaki's advisors, JW Wilson, also said that when people give back, it changes their perspective as they see things from a higher level.
<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="585" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/04040944/download-36-1024x585.png" alt="" class="wp-image-322519" style="width:800px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/04040944/download-36-1024x585.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/04040944/download-36-300x171.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/04040944/download-36-768x439.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/04040944/download-36-1536x878.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/04040944/download-36.png 1792w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Representation image of people helping kids, elders, and others who appear hungry. Image Via Dall-E 3</figcaption></figure>
The&nbsp;Mantra&nbsp;To Find Purpose And Its Divine Alignment&nbsp;
According to Kiyosaki, people can find their true purpose by aligning with what they believe God desires and working toward it. He illustrated this point with an example from his own experience, citing his fundraising platform for social causes. Kiyosaki explained that he believed God would want to prevent kids from suffering, so he decided to contribute.
<figure class="wp-block-image size-large"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/04041617/DALL%C2%B7E-2024-05-04-13.45.34-A-serene-and-inspirational-scene-that-represents-the-concept-of-finding-purpose-through-divine-alignment-inspired-by-Robert-Kiyosakis-philosophy.-Th-1024x585.webp" alt="" class="wp-image-322524" /><figcaption class="wp-element-caption">Representation image of a person sitting in a deep thought, with a majestic background. Image Via Dall-E 3</figcaption></figure>
See Also:<a href="https://www.benzinga.com/general/entertainment/24/04/38428409/i-tried-apps-like-tinder-and-bumble-but-they-did-nothing-for-me-instead-these-5-things-help" target="_blank" rel="noreferrer noopener">&nbsp;I Tried Apps Like Tinder And Bumble But They Did Nothing For Me, Instead These 5 Things Helped Me Up My Dating Game</a>
The Holistic Approach To Gain Wealth&nbsp;
The author of &#8216;Rich Dad Poor Dad&#8217; stresses internal growth over external factors when addressing the question of how to become wealthy. According to Kiyosaki, individuals should invest in building assets, seek mentorship, and read good books.
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="585" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/04042258/download-37-1024x585.png" alt="" class="wp-image-322539" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/04042258/download-37-1024x585.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/04042258/download-37-300x171.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/04042258/download-37-768x439.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/04042258/download-37-1536x878.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/04042258/download-37.png 1792w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Representation image of a person having a holistic approach to gaining wealth. Image Via Dall-E 3</figcaption></figure>
The Art Of Nurturing Teams And Lasting Relationships
Kiyosaki suggests that life and business resemble team sports, underscoring the importance of selecting teammates thoughtfully. According to him, individuals should seek out partners who share similar values and complement their strengths. Once found, the key is to focus on nurturing those relationships.
<figure class="wp-block-image size-large"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/04042502/DALL%C2%B7E-2024-05-04-13.54.47-A-friendly-and-professional-illustration-that-showcases-teamwork-and-building-lasting-relationships-in-a-business-environment.-The-image-should-featur-1024x585.webp" alt="" class="wp-image-322544" /><figcaption class="wp-element-caption">Representation image of a group of people having a great day at work. Image Via Dall-E 3</figcaption></figure>
The Place For Ultimate Investment
The renowned businessman and author strongly advocates for continuous learning as the ultimate investment opportunity. He also suggests not shying away from failure or discomfort when acquiring new knowledge, citing that no child ever learned to walk without enduring a few bruises.
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="585" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/04042856/download-38-1024x585.png" alt="" class="wp-image-322545" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/04042856/download-38-1024x585.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/04042856/download-38-300x171.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/04042856/download-38-768x439.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/04042856/download-38-1536x878.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/04042856/download-38.png 1792w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Representation image of a library filled with numerous books. Image Via Dall-E 3</figcaption></figure>
Read Next: <a href="https://www.benzinga.com/general/entertainment/24/04/38208374/15-ingredients-you-can-pick-up-from-the-supermarket-shelf-to-up-your-indian-food-game" target="_blank" rel="noreferrer noopener">Want To Up Your Indian Food Game? Here Are 15 Ingredients I Recommend That Would Wow Your Family And Friends</a> Image Credit: Shutterstock

Success Stories

'Rich Dad Poor Dad' Author Taught 5 Lessons To This Host In 2019 — Here's A Deep Dive Into Details Of What A Learning Fest It Was Hosting Robert Kiyosaki

The past week has been a whirlwind for Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), with a mixed bag of news that kept investors on their toes. From an earnings beat and a massive stock buyback to a slump in iPhone sales and a lukewarm response to Siri, there&#8217;s a lot to unpack. Here&#8217;s a quick recap of the week&#8217;s top stories.
Apple Q2 Earnings Outperform Muted Expectations On Services Apple reported Q2 results that surpassed subdued predictions. The tech giant announced a whopping $110-billion stock buyback program and a slight increase in its quarterly dividend. Despite a year-on-year revenue decline, the announcement saw the shares of the tech stock rise about 3.5%. <a href="https://www.benzinga.com/news/earnings/24/05/38599545/apple-q2-earnings-beats-muted-forecast-on-services-mac-strength-installed-base-at-fresh-record-cupe">Read the full article here.</a>
Elon Musk Comments on Siri&#8217;s Performance Tesla CEO Elon Musk responded to tech YouTuber Marques Brownlee&#8217;s question about Apple&#8217;s virtual assistant, Siri. Musk agreed with another user who expressed dissatisfaction with Siri, sparking a conversation about Apple&#8217;s AI-related moves. <a href="https://www.benzinga.com/news/24/05/38614138/have-you-used-siri-lately-elon-musk-answers-mkbhd-after-tim-cook-teases-exciting-ai-developments-fro">Read the full article here.</a>
See Also: <a href="https://www.benzinga.com/markets/equities/24/05/38544038/amazon-says-generative-ai-is-now-a-multibillion-dollar-revenue-run-rate-business-strong-demand-s?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Amazon Says Generative AI Is Now A &#8216;Multibillion-Dollar&#8217; Revenue Run Rate Business: &#8216;Strong Demand Signal</a>
iPhone Sales Plunge in Q1 2024 Apple&#8217;s iPhone sales took a hit in the first quarter of 2024, with a 16% drop compared to the same period in 2023. The drop translates to a staggering 9.3 million units, marking a rough start to the year for the company. <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38511556/what-is-going-on-with-apple-iphone-sales-drop-by-staggering-9-3m-units-globally-in-">Read the full article here.</a>
Apple&#8217;s Record Stock Buyback Apple announced a massive buyback program, authorizing the repurchase of an additional $110 billion of its common stock. The move was so significant that it overshadowed the valuation of several big companies, delivering a pleasant surprise to investors. <a href="https://www.benzinga.com/markets/equities/24/05/38607876/steve-jobs-wasnt-a-fan-but-apples-record-stock-buyback-is-so-massive-it-dwarfs-valuations-of-boe">Read the full article here.</a>
New Leak Confirms Rumors About iPhone 16 A new leak by Sonny Dickson confirmed recent rumors about the screen sizes for the upcoming iPhone 16 lineup. The leak also revealed details about the camera bump, hinting at a significant leap for Apple. <a href="https://www.benzinga.com/news/24/04/38480983/giant-leap-for-apple-new-leak-of-iphone-16-lineup-confirms-recent-rumors-about-screen-sizes-and-came">Read the full article here.</a>
Read Next: <a href="https://www.benzinga.com/news/24/05/38542692/tesla-ceo-elon-musk-is-impressed-by-the-fact-that-jeff-bezos-aws-12-month-revenue-is-higher-than-466?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Tesla CEO Elon Musk Is Impressed By The Fact That Jeff Bezos&#8217; AWS 12-Month Revenue Is Higher Than 466 S&amp;P 500 Companies</a>
Photo courtesy: Shutterstock
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Apple's Q2 Earnings, iPhone Sales Slump, And A Massive $110B Stock Buyback: This Week In Appleverse

The week was a rollercoaster ride for the cryptocurrency market. The crypto world was buzzing with news, from Shiba Inu&#8217;s surging burn rate to speculation of certain altcoins becoming irrelevant. Major cryptocurrencies like Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>), Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>), and Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) ended April with heavy losses, but the market sentiment soared as the new week began. Let&#8217;s dive into the details.
&#8216;Dogecoin Killer&#8217; Shiba Inu Burn Rate Spikes 800%
Shiba Inu experienced a resurgence in its burn rates, with an 800% surge and millions of coins burned in recent transactions prompting positive market sentiment and an increase in prices. <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38621862/dogecoin-killer-shiba-inu-burn-rate-spikes-800-amid-new-margin-pair-listing-on-kraken">Read the full article here.</a>
Altcoins&#8217; Fate: Strong Performers or Irrelevant?
Pseudonymous crypto trader &#8220;Cold Blooded Shiller&#8221; questions whether the market is beginning to phase out certain altcoins in favor of stronger performers and Bitcoin. He notes that while Bitcoin&#8217;s strength is undeniable, there&#8217;s an interesting separation among altcoins. Meme coins like Dogwifhat, Pepe, and Floki Inu have seen significant gains, but will they maintain their momentum? <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38491753/spectacular-meme-runs-mean-these-three-altcoins-could-be-doomed-to-irrelevancy-muses-veter">Read the full article here.</a>
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38623527/bitcoin-ethereum-dogecoin-rally-as-market-sentiment-soars-on-macro-data-above-67-000-we-fl?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Bitcoin, Ethereum, Dogecoin Rally, As Market Sentiment Soars On Macro Data: &#8216;Above $67,000 We Fly Like A</a>
Heavy Losses for Bitcoin, Ethereum, Dogecoin in April
April ended on a sour note for major cryptocurrencies. Bitcoin, Ethereum, and Dogecoin closed the month with losses of 16%, 19%, and 40%, respectively. The new Hong Kong Bitcoin ETFs, contrary to bullish expectations, may turn out to be a &#8220;complete failure,&#8221; according to finance and crypto newsletter, WhaleWire. <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38533211/bitcoin-ethereum-dogecoin-closing-april-with-heavy-losses-slide-below-60k-causes-over-380m">Read the full article here.</a>
Are Dogecoin and Shiba Inu Due for a Bounce?
Despite a turbulent month, traders remain optimistic about Dogecoin and Shiba Inu. Chart analyst Ali Martinez predicts a bullish breakout for Shiba Inu (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>), while crypto trader YG Crypto analyzes Dogecoin&#8217;s recent performance, which saw a dramatic 40% price drop. <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38564859/are-dogecoin-and-shiba-inu-due-a-bounce-this-trader-sees-bull-flag-forming-for-one-coin">Read the full article here.</a>
Crypto Market Rallies as Sentiment Soars
Despite the losses in April, the cryptocurrency market started May on a positive note. Major cryptocurrencies are trading higher, with Bitcoin bouncing well above the $60,000 mark. <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38623527/bitcoin-ethereum-dogecoin-rally-as-market-sentiment-soars-on-macro-data-above-67-000-we-fl">Read the full article here.</a>
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38611669/dogecoin-is-primed-for-higher-but-pepe-is-on-a-moon-mission-exclaims-trader?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Dogecoin Is &#8216;Primed For Higher&#8217; But Pepe Is &#8216;On A Moon Mission,&#8217; Exclaims Trader</a>
Image: Eivind Pedersen from Pixabay
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'Dogecoin Killer' Shiba Inu Burn Rate Spikes 800%, Crypto Market Rallies As Sentiment Soars And More: This Week In Cryptocurrency

Cyber insurance has become a very fashionable space these days, said Ajit Jain, the vice chairman of insurance operations for Berkshire Hathaway Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>) (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>). Over the last few years, it has become <a href="https://www.benzinga.com/general/24/02/36987783/scott-mayor-founder-of-endurance-advises-businesses-on-managing-cyber-risk" target="_blank" rel="noreferrer noopener">at least a $10 billion market globally</a>.
Speaking at Berkshire Hathaway&#8217;s annual shareholder <a href="https://www.youtube.com/watch?v=X3wLdzddRtI" target="_blank" rel="noreferrer noopener">meeting </a>in Nebraska, Omaha, on Saturday, Jain said that the profitability of cyber insurance is also reasonably <a href="https://www.benzinga.com/news/24/05/38630719/warren-buffett-fears-the-ai-genie-thats-part-out-of-the-bottle-but-agrees-it-has-potential-to-do-goo" target="_blank" rel="noreferrer noopener">high, around 20% of the total premium</a>.
However, he said Berkshire tends to be very careful when considering cyber insurance liabilities because:
<ul>
<li>Knowing the quantum of losses subject to a single occurrence and the aggregation potential for cyber losses is tough.</li>
<li>According to Jain, if some cloud operations come to a standstill, the aggregation losses can be huge, and not being able to understand a &#8220;worst-case cap on it is what scares us.&#8221;</li>
<li>There is a difficulty in understanding the loss cost of cyber insurance — not just for a single loss, but for losses over time.</li>
</ul>
&#8220;We have been fairly well contained, out of 100 cents of the dollar of the premium losses over the last four, five years, I think, have not been beyond 40 cents of the dollar, leaving a decent profit margin,&#8221; Jain added. 
Still, he highlighted that, currently, there isn&#8217;t enough data to fully understand the true loss cost.
&#8220;I have discouraged [staff] from writing cyber insurances,&#8221; Jain said. &#8220;Each time you write a cyber insurance policy, you are losing money.&#8221;
As a result, while cyber insurance is projected to be a huge business, it could be associated with huge losses.
&#8220;Our approach is to sort of stay away from it right now until we can&nbsp;have access to&nbsp;some meaningful data,&#8221; Jain cautioned.
Since the pandemic, cyberattacks have surged twofold, according to a <a href="https://www.imf.org/en/Blogs/Articles/2024/04/09/rising-cyber-threats-pose-serious-concerns-for-financial-stability">report </a>by the International Monetary Fund. While many companies faced minor direct losses, some, like Equifax, endured significant tolls. Equifax, for example, spent over $1 billion on breach compensation and the transformation of its data security following a major 2017 data breach impacting 150 million consumers.
Major US-listed companies providing cyber insurance are:&nbsp;
<ul>
<li>Marsh &amp; McLennan Companies, Inc. Common Stock(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MMC#NYSE">MMC</a>)</li>
<li>Aon Plc Class A Ordinary Shares (Ireland)(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AON#NYSE">AON</a>)</li>
<li>Arthur J. Gallagher &amp; Co. Common Stock(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AJG#NYSE">AJG</a>)</li>
<li>Brown &amp; Brown, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRO#NYSE">BRO</a>)</li>
<li>Willis Towers Watson Public Limited Company &#8211; Ordinary Shares(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WTW#NASDAQ">WTW</a>)</li>
</ul>
Berkshire Hathaway, on Saturday, registered a solid increase in <a href="https://www.businesswire.com/news/home/20240504932623/en/Berkshire-Hathaway-Inc.-First-Quarter-2024-Earnings-Release" target="_blank" rel="noreferrer noopener">first-quarter</a> operating earnings, driven by strength in its insurance businesses, <a href="https://www.benzinga.com/calendars/earnings" target="_blank" rel="noreferrer noopener">both in underwriting and investment income.</a> The company&#8217;s quarterly operating earnings of $11.22 billion rose over 39% <a href="https://www.benzinga.com/calendars/earnings" target="_blank" rel="noreferrer noopener">from $8.065 billion in the year-ago quarter.</a>
Photo: Shutterstock

Earnings

Equities

Movers

Berkshire Hathaway's Ajit Jain Cautions On Cyber Insurance Amid Risks: 'Each Time You Write A Cyber Insurance Policy, You Are Losing Money'

Elon Musk raised eyebrows&nbsp;with his recent tweet affirming a&nbsp;<a href="https://www.benzinga.com/news/23/07/33088668/us-spies-sound-alarm-on-risks-of-engaging-in-business-with-china">prediction of&nbsp;a civil war in the West.</a>
What Happened: In reply to a tweet by Canadian professor Gad Saad, who suggested that &quot;war is coming&quot; and elaborated by stating, &quot;Some imbeciles are questioning the scope of this prediction so let me be clearer: Civil war is coming to the West,&quot; Musk responded by asserting, &quot;100% probability,&quot; causing a stir&nbsp;on X, formerly Twitter. The tweet was posted on Saturday.
<blockquote class="twitter-tweet">100% probability
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1786624683330380207?ref_src=twsrc%5Etfw">May 4, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>This is not the first time Musk&#39;s tweets have made headlines. Recently, he responded to a tweet by Greg Price, the communications director of the State Freedom Caucus Network, who quoted President Joe Biden&#39;s <a href="http://www.benzinga.com/news/24/04/38479082/elon-musk-gives-one-word-response-to-joe-bidens-dig-at-donald-trump-at-white-house-correspondents-di">remarks at the White House Correspondents dinner</a>.
Also Read:&nbsp;<a href="https://www.benzinga.com/news/24/04/38491110/this-is-insane-elon-musk-warns-of-forever-war-amid-talks-of-a-decade-long-us-ukraine-security-agreem">Elon Musk Warns Of &#39;Forever War&#39; Amid Talks Of A Decade-Long US-Ukraine Security Agreement</a>
Why It Matters: Musk&#39;s prediction comes amid political tension and unrest. His recent interactions on X,&nbsp;including his response to&nbsp;Biden&#39;s comments, have been seen by some as indicative of his political stance.
Furthermore, Musk&#39;s company, SpaceX, was contracted by the U.S. government<a href="http://www.benzinga.com/news/24/03/37768437/elon-musks-spacex-is-secretly-building-a-huge-spy-satellite-network-for-the-us-government"> to develop a network of spy satellites.</a>
This $1.8 billion project, aimed at enhancing global surveillance capabilities, underscores the growing partnership between SpaceX and national security agencies. This information adds another layer of context to Musk&#39;s ominous prediction.
Now Read:&nbsp;<a href="https://www.benzinga.com/news/24/03/37574847/biden-vs-trump-elon-musk-says-he-wont-contribute-to-either-campaign-but-his-social-media-activity-su" target="_blank">Biden Vs. Trump: Elon Musk Says He Won&#39;t Contribute To Either Campaign, But His Social Media Activity Suggests Support For One Over Other</a>
This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" style="box-sizing:inherit; color:rgba(var(--sk_highlight,18,100,163),1); text-decoration:underline" target="_blank">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.
Photo: <a href="https://flickr.com/photos/thomashawk/" id="yui_3_16_0_1_1714859819729_30604" rel="author" title="Go to Thomas Hawk's photostream">Thomas Hawk</a>&nbsp;via flickr

Elon Musk Causes Stir With Response To Professor's Ominous Prediction Of Civil War 'Coming To The West'

On a Sunday afternoon at a Florida racetrack, one would expect a warm reception for Donald Trump and his backers. However, at the Miami Grand Prix this Sunday, <a href="https://www.benzinga.com/general/sports-betting/24/05/38562643/formula-1-stops-trump-fundraiser-miami-grand-prix-connection-to-dolphins-owner-draws-atten" target="_blank" rel="noreferrer noopener">that expectation will be challenged. </a>
Organizers of the event sent a cease-and-desist letter to a wealthy Trump supporter planning a $250,000 per ticket fundraiser in a suite overlooking the race, <a href="https://www.bloomberg.com/opinion/articles/2024-05-04/miami-grand-prix-trump-is-ruining-republicans-relationship-with-motor-sports?srnd=all&amp;sref=TBDibEcD" target="_blank" rel="noreferrer noopener">reported</a> Bloomberg.
With dwindling viewership over the years, motor sports are aiming to expand their audience beyond traditional fans. Promoting conservatism or any politics at the track could hinder this goal, the report added.
IndyCar also refused a team&#8217;s bid to display Trump and Robert F. Kennedy Jr. promotions on its bodywork at the Indy 500. 
Similarly, a plan for Trump to give the command to start engines at a televised IndyCar race in Thermal, California, was abruptly scrapped in March, as <a href="https://racer.com/2024/04/26/indycar-denies-rfk-jr-trump-car-at-indy-500/">reported</a> by Racer, a prominent motor sports news outlet.
The shift is especially striking given that, since Richard Nixon, Republican presidents have seen motor sports as a way to connect with Southern white working-class culture, according to Bloomberg. 
NASCAR has been especially appealing,&nbsp;with its roots&nbsp;in Prohibition-era bootlegging, where drivers raced modified production model cars. For many fans, NASCAR embodies a rugged, rebellious Southern heritage often symbolized by the Confederate flag at races, Bloomberg added.
Trump embraced this heritage as president, notably serving as the grand marshal of the 2020 Daytona 500, NASCAR&#8217;s premier event. 
However, this enthusiasm wasn&#8217;t reflected in television viewership. In 2020, Daytona saw its lowest viewership since records were first kept in 1979, with 7.33 million viewers, a figure not aided by rain delays. A year later, viewership dropped further to 4.9 million.
The decline isn&#8217;t limited to Daytona. In 2023, NASCAR averaged 2.86 million viewers, down 5% from 2022, its lowest on record.&nbsp;
Formula 1 also experienced an 8% viewership drop in 2023. IndyCar, while showing improvement, still faces challenges. Since 1993, IndyCar viewership has plummeted by 72.7%,&nbsp;with average broadcasts dropping&nbsp;from 4.1 million to 1.1 million viewers.&nbsp;
Motor sports enthusiasts have various theories for the decline, but one fact remains clear: appeals to Southern heritage, conservative politics and Trump haven&#8217;t attracted new fans to the sport.
Read Next: <a href="https://www.benzinga.com/markets/equities/24/05/38629833/berkshire-hathaways-q1-operating-earnings-surged-39-heres-why" target="_blank" rel="noreferrer noopener">Berkshire Hathaway&#8217;s Q1 Operating Earnings Surged 39% — Here&#8217;s Why</a>
This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo: Shutterstock

Once Vehicles For Republican Presidents To Connect With Southern Whites, Motor Sports Are Shifting Away From Trump

Electric vehicle shares mostly advanced this week, <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/38624536/federal-reserve-dismisses-rate-hike-fears-labor-market-cools-apple-lures-investors-">riding high on the broader market strength</a> as the Federal Reserve hinted at potential rate cuts. 
Here are the key events that happened in the EV space during the week:
Tesla&#8217;s China FSD Potential, More Job Cuts : A surprise visit by Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) CEO Elon Musk to China was received positively by the market, with the stock jumping over 15% on Monday. The optimism stemmed from reports of the company receiving approval to roll out its full self-driving technology in China. BofA&#8217;s John Murphy&nbsp;estimates <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/38542475/teslas-stock-could-rise-by-up-to-24-if-ev-giants-china-fsd-rollout-succeeds-says-fu">incremental annual revenue&nbsp;of half a billion dollars&nbsp;and earnings of $350 million</a> for Tesla if 25% of Tesla owners adopt FSD. Murphy projects even higher earnings ($2.3 billion) by 2030 based on the same adoption rate and projected auto sales growth in China.
Future Fund&#8217;s Gary Black suggests that incremental earnings per share could reach as high as 48 cents per share, and incremental valuation could increase by $24 per share if the FSD take rate is around 30%.
The week also saw the reporting of more job losses at Tesla.
Close on the heels of the large scale job cuts, The Information reported that Musk sent an email to managers regarding the eliminations of more key executives, including Senior Director of EV Charging Rebecca Tinucci and Director of Vehicle Programs Daniel Ho. The move raised eyebrows as the company secured deals with most legacy automakers and its EV peers for sharing its charging network.
In the email, Musk later clarified on X that the the company still planned to expand the Supercharger network, &#8220;just at a slower pace for new locations and more focus on 100% uptime and expansion of existing locations.&#8221;
Bloomberg reported that Tesla's Senior Director of HR Allie Arebalo also left the company.
See Also: <a href="https://www.benzinga.com/money/best-electric-vehicle-stocks">Best Electric Vehicle Stocks</a>
Rivian Receives State Funding: Rivian Automotive, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIVN#NASDAQ">RIVN</a>) said it received an $827 million incentive package from the Illinois Department of Commerce Economic Opportunity. This, according to the company, would allow the expansion of operations at its Normal, Illinois plant, in addition to funding job training programs for employees ahead of the start of production of the R2, the company&#8217;s mid-sized SUV.
Separately, a Bloomberg report said Rivian is planning to cut 1% of its global workforce, following a 10% job cut announced earlier this year.
Fisker In Legal Trouble: Embattled EV startup Fisker, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FSR#NYSE">FSR</a>), which is hurtling toward bankruptcy, is now entangled in another legal mess. TechCrunch <a href="https://techcrunch.com/2024/05/03/fisker-pear-alaska-lawsuit-engineering-class-action/?guccounter=1&amp;guce_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvbS8&amp;guce_referrer_sig=AQAAAHATFAE6Q8oltZ5C10IEevgvQy_Ganrm2crYour9PG-_zBj2hXtRUpuMty0Lm07DykfBz-ikKU_XlBFS1O1jXj4NW7woXW7o7Rn9jlrjDncyIh8qQ1ppIK6hFP3niTDjML5NHuzux8WHtEtqFq8C9bimUDEV81vGPixkTqxk1Ycg">reported</a> that a U.S. subsidiary of German engineering giant Bertrandt AG filed a lawsuit, stating that the EV startup stopped paying for the work it rendered to help develop the Pear low-cost EV. The German company also accused Fisker of wrongfully holding onto IP associated with those vehicles and is seeking around $13 million in damages.
The report noted that Fisker has also been the subject of at least 30 lemon law violations. Lemon laws are meant to provide a remedy for purchasers of cars and other consumer goods in order to compensate for products that repeatedly fail to meet standards of quality and performance.
Chinese Startups Sparkle With April Sales: Despite intense rivalry and price cuts in China, domestic startups reported strong sales numbers for April. Nio, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NIO#NYSE">NIO</a>) delivered 15,620 EVs, up about 135% year-over-year, and rival XPeng, Inc.&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XPEV#NYSE">XPEV</a>) sales climbed 33% year-over-year and 4% month-over-month to 9,393 units.
Li Auto, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LI#NASDAQ">LI</a>) delivered 25,787 vehicles, up 0.4% year over year. 
Ford&#8217;s EV Sales Recover: Powered by its Mustang Mach-E, Ford Motor Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>) reported a 129% year-over-year increase in EV sales in April. Mach-E sales jumped over 200% to 4,893 units, while F-150 Lightning EV pickup and E-Transit sales were at 2,090 and 1,036 units, taking the total EVs sold during the month to 8,019 units.
The KraneShares Electric Vehicles and Future Mobility&nbsp;Index ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KARS#NYSE">KARS</a>) ended Friday&#8217;s session up 0.31% at $22.72, according to <a href="https://benzinga.grsm.io/lxquj26b2sag">Benzinga Pro data.</a> For the week, the ETF gained 6.57%.
Check out more of Benzinga&#8217;s Future Of Mobility coverage by&nbsp;<a href="http://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next: <a href="https://www.benzinga.com/markets/equities/24/05/38606230/elon-musk-wowed-by-apples-biggest-stock-buyback-will-tesla-follow-suit-or-remain-stuck-in-catego">Elon Musk Wowed By Apple&#8217;s Biggest Stock Buyback — Will Tesla Follow Suit Or Remain Stuck In &#8216;Category 5&#8217; Storm?</a>
EV Stock Performances For Week:
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td></td>
<td>Performances (+/-)</td>
</tr>
<tr>
<td>Tesla</td>
<td>+7.66%</td>
</tr>
<tr>
<td>Nio, Inc.(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NIO#NYSE">NIO</a>)</td>
<td>+24.05%</td>
</tr>
<tr>
<td>XPeng, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XPEV#NYSE">XPEV</a>)</td>
<td>+15.56%</td>
</tr>
<tr>
<td>Li Auto, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LI#NASDAQ">LI</a>)</td>
<td>+11.82%</td>
</tr>
<tr>
<td>Fisker</td>
<td>-5.46%</td>
</tr>
<tr>
<td>Workhorse Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WKHS#NASDAQ">WKHS</a>)</td>
<td>+1.91%</td>
</tr>
<tr>
<td>Hyzon Motors, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HYZN#NASDAQ">HYZN</a>)</td>
<td>+4.94%</td>
</tr>
<tr>
<td>Canoo, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOEV#NASDAQ">GOEV</a>)</td>
<td>0%</td>
</tr>
<tr>
<td>Rivian </td>
<td>+11.39%</td>
</tr>
<tr>
<td>Lucid Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LCID#NASDAQ">LCID</a>)</td>
<td>+13.21%</td>
</tr>
<tr>
<td>Faraday Future Intelligent Electric, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FFIE#NASDAQ">FFIE</a>)</td>
<td>-12.98%</td>
</tr>
<tr>
<td>Nikola Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NKLA#NASDAQ">NKLA</a>)</td>
<td>+2.19%</td>
</tr>
<tr>
<td>VinFast </td>
<td>+11.15%</td>
</tr>
</tbody>
</table>
</figure>
Photo: Shutterstock

FFIE

GOEV

HYZN

KARS

LCID

NKLA

RIVN

WKHS

XPEV

Tesla's China FSD Goldmine, Rivian Receives Much-Needed Cash Boost, Fisker Lands In Another Legal Mess And More: Biggest EV Stories Of The Week

There was a time when 20-plus episode runs were the standard for TV shows, but not for the ones we watch today. If you also like to stay consistent with a fictional world and are itching to binge-watch something that has endured the test of time, you've come to the right place.
Here are five timeless TV shows that have been running forever and are perfect for Gen Zs and millennials alike:
The Simpsons: The Animated Gem That Crack Jokes And Predicts Future&nbsp;
This witty satire with clever social commentary has entertained audiences since its debut in 1989. The show features several relatable characters, from the adorably flawed Homer to the precocious Lisa, with slightly different views than most children her age.
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="734" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/04023113/MV5BNDIzYjQ5ZDAtZmEyZS00NDgyLThkNzEtNDE0OTllMTMxMjc5XkEyXkFqcGdeQXVyMTM2MzkzOTg1._V1_-1024x734.jpg" alt="" class="wp-image-322479" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/04023113/MV5BNDIzYjQ5ZDAtZmEyZS00NDgyLThkNzEtNDE0OTllMTMxMjc5XkEyXkFqcGdeQXVyMTM2MzkzOTg1._V1_-1024x734.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/04023113/MV5BNDIzYjQ5ZDAtZmEyZS00NDgyLThkNzEtNDE0OTllMTMxMjc5XkEyXkFqcGdeQXVyMTM2MzkzOTg1._V1_-300x215.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/04023113/MV5BNDIzYjQ5ZDAtZmEyZS00NDgyLThkNzEtNDE0OTllMTMxMjc5XkEyXkFqcGdeQXVyMTM2MzkzOTg1._V1_-768x551.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/04023113/MV5BNDIzYjQ5ZDAtZmEyZS00NDgyLThkNzEtNDE0OTllMTMxMjc5XkEyXkFqcGdeQXVyMTM2MzkzOTg1._V1_.jpg 1506w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">The Simpsons &#x7C; Source: IMDb</figcaption></figure>
Saturday Night Live: The Ultimate Hub For Hilarious Sketches And Celebrity Guests&nbsp;
This late-night comedy variety show has everything, from live comedy sketches to musical performances and celebrity guests. With almost 50 years on the air, SNL has been a launching pad for some of the biggest names like Eddie Murphy and Tina Fey.
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="576" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/04023256/MV5BMTE1ZTM1NTQtNTM0Ny00MDMwLWJlNjItZDc4NTBjNjI1Y2ZjXkEyXkFqcGdeQXVyMTU3MzE1ODcx._V1_-1024x576.jpg" alt="" class="wp-image-322480" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/04023256/MV5BMTE1ZTM1NTQtNTM0Ny00MDMwLWJlNjItZDc4NTBjNjI1Y2ZjXkEyXkFqcGdeQXVyMTU3MzE1ODcx._V1_-1024x576.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/04023256/MV5BMTE1ZTM1NTQtNTM0Ny00MDMwLWJlNjItZDc4NTBjNjI1Y2ZjXkEyXkFqcGdeQXVyMTU3MzE1ODcx._V1_-300x169.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/04023256/MV5BMTE1ZTM1NTQtNTM0Ny00MDMwLWJlNjItZDc4NTBjNjI1Y2ZjXkEyXkFqcGdeQXVyMTU3MzE1ODcx._V1_-768x432.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/04023256/MV5BMTE1ZTM1NTQtNTM0Ny00MDMwLWJlNjItZDc4NTBjNjI1Y2ZjXkEyXkFqcGdeQXVyMTU3MzE1ODcx._V1_.jpg 1260w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Saturday Night Live &#x7C; Source: IMDb</figcaption></figure>
See Also: <a href="https://www.benzinga.com/general/entertainment/24/04/38375666/i-used-to-think-k-dramas-were-all-about-teen-romance-but-these-5-shows-changed-my-mind-mayb">I Used To Think K-Dramas Were All About Teen Romance, But These 5 Shows Changed My Mind — Maybe They Will Change Yours Too</a>
Law &amp; Order (Special Victims Unit): The Gripping World Of Crime And Justice&nbsp;&nbsp;
Over the years, this show has garnered a dedicated fan base because of its compelling and sensitive portrayals of crimes that are particularly heinous, like sexual assault. Moreover, the cast of the show and their depiction of complex characters have made it a favorite of many celebrities as well.
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="683" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/04023440/MV5BZWM2NDZiYzktZmVjNy00MTcxLTlkYWEtNjBlODcxMTBjZmEyXkEyXkFqcGdeQXVyMTUzMTg2ODkz._V1_-1024x683.jpg" alt="" class="wp-image-322481" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/04023440/MV5BZWM2NDZiYzktZmVjNy00MTcxLTlkYWEtNjBlODcxMTBjZmEyXkEyXkFqcGdeQXVyMTUzMTg2ODkz._V1_-1024x683.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/04023440/MV5BZWM2NDZiYzktZmVjNy00MTcxLTlkYWEtNjBlODcxMTBjZmEyXkEyXkFqcGdeQXVyMTUzMTg2ODkz._V1_-300x200.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/04023440/MV5BZWM2NDZiYzktZmVjNy00MTcxLTlkYWEtNjBlODcxMTBjZmEyXkEyXkFqcGdeQXVyMTUzMTg2ODkz._V1_-768x512.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/04023440/MV5BZWM2NDZiYzktZmVjNy00MTcxLTlkYWEtNjBlODcxMTBjZmEyXkEyXkFqcGdeQXVyMTUzMTg2ODkz._V1_-1536x1024.jpg 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/04023440/MV5BZWM2NDZiYzktZmVjNy00MTcxLTlkYWEtNjBlODcxMTBjZmEyXkEyXkFqcGdeQXVyMTUzMTg2ODkz._V1_.jpg 1620w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Law &amp; Order (Special Victims Unit) &#x7C; Source: IMDb</figcaption></figure>
NCIS: The Mixture Of Crime-Solving, Camaraderie, And Peak Into Naval Universe&nbsp;
This TV show has won the hearts of many people because it has the winning formula: thrilling crime-solving, diverse personalities of the team members and a healthy dose of quirks and humor. NCIS also has a strong sense of patriotism that resonates with the audience and fosters a sense of pride toward the armed forces.
<figure class="wp-block-image size-large"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/04023939/MV5BYTdhYTI3ZTItNDc2NS00YzM2LWIxMjQtMTJjZjlkOTg3MTgyXkEyXkFqcGdeQXVyNjc5Mjg0NjU%40._V1_-1024x683.jpg" alt="" class="wp-image-322484" /><figcaption class="wp-element-caption">NCIS&#x7C; Source: IMDb</figcaption></figure>
Days Of Our Lives: The Melodramatic Yet Addictive World Of Salem&nbsp;
It is a daytime soap opera with an addictive blend of love triangles, shocking secrets, evil twins, and more. The show is known for introducing multiple unforgettable characters, including the ultimate antagonist Stefano DiMera and the legendary couple Bo and Hope.
<figure class="wp-block-image size-large"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/04024241/MV5BMjE1MTE5MTEyMV5BMl5BanBnXkFtZTgwOTkwNTM1MTI%40._V1_-1024x598.jpg" alt="" class="wp-image-322485" /><figcaption class="wp-element-caption">Days Of Our Lives&#x7C; Source: IMDb</figcaption></figure>
Read Next: <a href="https://www.benzinga.com/general/entertainment/24/04/38457119/5-ancient-mysteries-tha%5B%E2%80%A6%5Due-to-baffle-scientists-despite-all-the-advancements-in-tech/upcacheh">5 Ancient Mysteries That Continue To Baffle Scientists Despite All The Advancements In Tech</a>
Image Via Shutterstock