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Fastly operates a content delivery network, which is necessary for entities to provide faster and more reliable online content. Fastly's strategy differs from traditional CDNs, which focus on locating servers in as many locations as possible to store copies of files that consumers most use. Fastly is in far fewer sites than traditional CDNs, but it houses servers in the most network-dense data centers. Instead of simply storing static content, it allows its customers to program on its platform, enabling edge computing and better service of the more dynamic content that was traditionally not well served by CDNs. Fastly gears its service to the largest, most sophisticated enterprises rather than small companies and generated nearly three fourths of its revenue in the United States in 2024.

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Treasury Secretary Scott Bessent criticized former Treasury Secretary Larry Summers on Monday, calling his recent television comments about Trump&#8217;s tax legislation &#8220;shockingly callous&#8221; and demanding a public apology.
What Happened: The confrontation stems from Summers&#8217; appearance <a href="https://abcnews.go.com/Politics/week-transcript-7-6-25-chairman-white-house/story?id=123506658">on</a> ABC&#8217;s &#8220;This Week&#8221; Sunday, where he claimed the administration&#8217;s &#8220;One Big, Beautiful Bill&#8221; would cause &#8220;2,000 days of death like we&#8217;ve seen in Texas this weekend,&#8221; referencing the Yale Budget Lab&#8217;s estimate of 100,000 deaths over 10 years from safety net cuts.
Bessent fired back in a four-part social media thread, accusing Summers of &#8220;using the horrifying situation in Texas for cheap political gain&#8221; and turning &#8220;a human tragedy into a political cudgel.&#8221; 
The Treasury Secretary characterized Summers&#8217; remarks as &#8220;feckless and deeply offensive,&#8221; calling for immediate dismissal if no apology is forthcoming.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Today, former Treasury Secretary <a href="https://twitter.com/LHSummers?ref_src=twsrc%5Etfw">@LHSummers</a> showed why he was forced to step down as president of <a href="https://twitter.com/Harvard?ref_src=twsrc%5Etfw">@Harvard</a>: a lack of humanity and judgment. 1/4
&mdash; Treasury Secretary Scott Bessent (@SecScottBessent) <a href="https://twitter.com/SecScottBessent/status/1942021951498649803?ref_src=twsrc%5Etfw">July 7, 2025</a></blockquote>
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See Also: <a href="https://www.benzinga.com/news/politics/25/07/46267477/trump-threatens-10-additional-tariff-on-all-brics-aligned-nations-says-tariff-letters-drop-at-noon-monday">Trump Threatens 10% &#8216;Additional&#8217; Tariff On All BRICS-Aligned Nations, Says Tariff Letters Drop At Noon Monday</a>
Why It Matters: The dispute highlights growing tensions over Trump&#8217;s tax package, which the Congressional Budget Office estimates would increase <a href="https://www.benzinga.com/markets/equities/25/05/45536595/big-beautiful-bill-will-explode-the-deficit-and-make-the-rich-richer-congressional-budget-office-estimates-4-income-fall-for-lowest-decile-of-americans-by-2033">federal deficits by $3.8 trillion</a> through extending 2017 tax provisions. The CBO projects household resources would decrease by 2-4% for the lowest income decile while increasing 2-4% for the highest earners.
Summers has emerged as a <a href="https://www.benzinga.com/markets/equities/25/06/45809443/larry-summers-identifies-3-key-reasons-for-rising-us-debt-but-doesnt-think-trumps-big-beautiful-bill-is-the-medicine-the-country-needs">prominent critic of the legislation</a>, previously calling it a &#8220;prescription for deadly, dangerous decline&#8221; that takes on debt &#8220;on a massive scale that we can&#8217;t afford.&#8221; He cited three drivers of rising U.S. debt: an aging population drawing entitlement benefits, increased government healthcare costs, and Treasury interest payments.
The former Harvard president has also warned that the dollar is beginning to trade like a Latin American currency, losing its safe-haven status as <a href="https://www.benzinga.com/markets/macro-economic-events/25/06/45714416/former-treasury-secretary-larry-summers-warns-the-dollar-is-starting-to-trade-like-a-latin-american-currency-greenback-going-from-safe-haven-to-risk-asset">global reserve share declined</a> from 85% in 1974 to 57% last year.
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Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Maxim Elramsisy / Shutterstock.com

Politics

Scott Bessent Slams Larry Summers' '2,000 Days Of Death' Remark On Trump Tax Plan: Demands Apology Over 'Callous' TV Comment

On Sunday, reports emerged that Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) CEO Elon Musk had filed with the Federal Election Commission to launch a new third party, only for the billionaire to deny its authenticity later.
What Happened: A Statement of Organization was posted on the Federal Election Commission (FEC) website, suggesting the formation of a new political entity named the "America Party."
The filing listed the candidate's name as Elon Reeve Musk, with Tesla CFO Vaibhav Taneja identified as both the treasurer and the custodian of records.
However, within hours, Musk took to X and said, "This filing is false and has been reported as such to the FEC."
See Also: <a href="https://www.benzinga.com/markets/tech/25/07/46267553/elon-musks-tesla-must-embrace-lidar-to-scale-fsd-says-ross-gerber">Elon Musk&#8217;s Tesla Must Embrace LiDAR To Scale FSD, Says Ross Gerber</a>
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">This filing is false and has been reported as such to the FEC
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1942009499109536185?ref_src=twsrc%5Etfw">July 6, 2025</a></blockquote>
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Why It's Important: The filing appeared shortly after Musk, who has publicly clashed with President Donald Trump over a tax-and-spending bill, declared on X, "Today, the America Party is formed to give you back your freedom."
Musk had criticized the bill's fiscal impact, calling the U.S. "a one-party system, not a democracy."
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">By a factor of 2 to 1, you want a new political party and you shall have it! When it comes to bankrupting our country with waste &amp; graft, we live in a one-party system, not a democracy. Today, the America Party is formed to give you back your freedom. <a href="https://t.co/9K8AD04QQN">https://t.co/9K8AD04QQN</a>
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1941584569523732930?ref_src=twsrc%5Etfw">July 5, 2025</a></blockquote>
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Trump responded on Truth Social, <a href="http://dent-says-system-not-designed-for-a-third-player/">mocking the idea</a> of a Musk-led third party. "Train Wreck," he wrote. The system isn't designed for third parties, he added, saying they only cause "Disruption &amp; Chaos."
Musk had been one of Trump's biggest financial backers in the 2024 campaign and <a href="https://www.benzinga.com/markets/25/03/44242181/elon-musk-admits-juggling-between-tesla-doge-is-difficult-says-running-businesses-with-great-difficulty-as-tsla-stock-plunges-50-in-3-months">led the</a> Department of Government Efficiency (DOGE) before <a href="https://www.benzinga.com/news/politics/25/05/45708460/elon-musks-175-billion-in-doge-cut-falls-far-short-of-the-billionaires-goal-expect-to-achieve-over-time-the-trillion-dollars-of-savings-says-tesla-ceo">stepping away in May</a>.
Price Action: Over the past five days, Tesla shares have fallen by 2.75%, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro data</a>.
Benzinga's Edge Stock Rankings show that TSLA maintains a solid upward trend across short, medium and long-term periods. Although its growth ranking remains robust, its value score is comparatively lower. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-4/#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">Additional performance details can be found here</a>.
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-4/#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/07002743/Screenshot-2025-07-07-at-9.52.07%E2%80%AFAM.png" alt="" class="wp-image-973988" /></a></figure>
Read Next:
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/tech/25/07/46258669/tesla-made-2-76-billion-from-zev-credits-in-2024-in-us-but-trumps-tax-bill-just-killed-this-revenue-stream" target="_blank" rel="noreferrer noopener">Tesla Made $2.76 Billion From ZEV Credits In 2024 In US But Trump&#8217;s Tax Bill Just Killed This Revenue Stream</a></li>
</ul>
Photo Courtesy: Frederic Legrand &#8211; COMEO On Shutterstock.com
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Government

Tech

TSLA

Elon Musk Says America First Filing 'False' And Has Been Reported To The Election Commission

Elon Musk said Sunday that his new &#8216;America Party&#8217; will embrace Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>), the world's largest cryptocurrency by capitalization.
What happened: An X user, Renato Lima, asked Musk whether his new centrist party would embrace Bitcoin.
"Fiat is hopeless, so yes," replied the SpaceX and Tesla CEO.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Fiat is hopeless, so yes
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1942028633670848810?ref_src=twsrc%5Etfw">July 7, 2025</a></blockquote>
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Musk's views on the fiat vs. Bitcoin debate have fluctuated over the years. Back in 2020, he said&nbsp; Bitcoin is <a href="https://www.benzinga.com/markets/cryptocurrency/20/12/18867707/elon-musk-calls-bitcoin-bs-in-tawdry-tweet-causes-20-dogecoin-surge">"almost as BS as fiat money."</a> However, months later in 2021, he<a href="https://www.benzinga.com/markets/cryptocurrency/21/05/21247271/elon-musk-takes-cryptos-side-in-battle-with-fiat-money"> sided with cryptocurrencies</a>.
Interestingly, he <a href="https://www.benzinga.com/news/social-media/25/06/45717476/elon-musk-launches-xchat-with-claimed-bitcoin-style-encryption-but-expert-says-its-like-running-a-rocket-on-water">unveiled XChat messaging app</a> last month with claimed Bitcoin-style encryption.
Moreover, Musk's electric vehicle juggernaut, Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), supposedly holds $1.2 billion in Bitcoin, <a href="https://intel.arkm.com/explorer/entity/tesla">according </a>to on-chain analytics firm Arkham Intelligence
See Also:<a href="https://www.benzinga.com/25/04/44621245/gold-backed-cryptos-match-yellow-metals-highs-following-trumps-liberation-day-shock"> </a><a href="https://www.benzinga.com/news/politics/25/07/46267181/elon-musks-america-party-polymarket-users-bet-on-andrew-yang-mark-cuban-joining-new-political-front">Elon Musk&#8217;s America Party: Polymarket Users Bet On Andrew Yang, Mark Cuban Joining New Political Front</a>
Why It Matters:&nbsp;After weeks of speculation, Musk <a href="https://www.benzinga.com/news/politics/25/07/46265725/elon-musk-announces-formation-of-america-party-emerges-in-wake-of-donald-trumps-historic-spending-bill">announced the launch</a> of the "America Party&#8221; to counteract what he views as a flawed two-party system.
Musk conducted a poll on X, asking voters about their desire for independence from the existing political framework. The poll garnered over 1.2 million votes, with a majority of 65.4% favoring a new political party.
Price Action:&nbsp; At the time of writing, Bitcoin was exchanging hands at $109,585.77, up 1.38% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>.
Shares of Tesla closed 0.10% lower at $315.35 during Thursday&#8217;s regular trading session. Year-to-date, the stock has plummeted 21.91%.
The TSLA stock ranked high on the Growth score but lagged in Momentum. To see how it compares to&nbsp;Strategy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), the largest Bitcoin corporate holder, check out&nbsp;<a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound" target="_blank" rel="noreferrer noopener">Benzinga Edge Stock Rankings</a>.
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img loading="lazy" decoding="async" width="472" height="195" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/06234357/image-1-10.png" alt="" class="wp-image-973932" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/06234357/image-1-10.png 472w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/06234357/image-1-10-300x124.png 300w" sizes="(max-width: 472px) 100vw, 472px" /></a></figure>
Photo Courtesy: Rido on Shutterstock.com
Read Next:&nbsp;
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/news/politics/25/07/46267326/elon-musks-america-party-is-a-move-in-the-opposite-direction-says-dan-ives-analyst-gary-black-says-difficult-to-predict-impact-on-tesla-brand-short-term">Elon Musk&#8217;s America Party Is A Move In The &#8216;Opposite Direction,&#8217; Says Dan Ives, Analyst Gary Black Says Difficult To Predict Impact On Tesla Brand Short Term</a><a href="https://www.benzinga.com/crypto/cryptocurrency/25/06/46148904/donald-trump-says-bitcoin-takes-a-lot-of-pressure-off-the-dollar"> </a></li>
</ul>

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

Cryptocurrency

$BTC

Elon Musk Says His America Party Will Embrace Bitcoin: 'Fiat Is Hopeless'

Elon Musk lashed out at U.S. Treasury Secretary Scott Bessent on Sunday, calling him "a Soros stooge" and "a political science major who can't even do math" in a post on X.
What Happened: Musk added that polling for him "was very positive a year ago, which is why Trump used me so much," dismissing Bessent's criticism of his popularity.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Bessent is a Soros stooge. And he&#39;s a political science major who can&#39;t even do math. The polling for me was very positive a year ago, which is why Trump used me so much.
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1942010997323293028?ref_src=twsrc%5Etfw">July 7, 2025</a></blockquote>
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The outburst followed Bessent's appearance on CNN's "State of the Union," where the Trump Cabinet pick said the Department of Government Efficiency principles "were very popular," but "if you looked at the polling, Elon was not."
Bessent also suggested Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) and SpaceX directors "did not like" Musk's decision to launch a new "America Party" and would urge him to refocus on business.
See also: <a href="https://www.benzinga.com/news/politics/25/07/46267477/trump-threatens-10-additional-tariff-on-all-brics-aligned-nations-says-tariff-letters-drop-at-noon-monday">Trump Threatens 10% &#8216;Additional&#8217; Tariff On All BRICS-Aligned Nations, Says Tariff Letters Drop At Noon Monday</a>
Bessent's jab hit a sensitive nerve in a week that saw Musk trumpet the third-party plan after breaking with President Donald Trump over the deficit-swelling "One Big Beautiful Bill." Trump allies quickly highlighted polls showing mixed views of DOGE and Musk.
Why It Matters: Bessent built his fortune running George Soros's hedge-fund empire before founding Key Square Capital and later joining Trump's economic team. In 1992, Bessent spearheaded Soros Fund Management's London research, pinpointed the pound's weakness, and helped execute the $10 billion short that "broke" the Bank of England. This event became infamously known as &#8216;Black Wednesday&#8217;.
Bessent&#8217;s Soros résumé probably fed Musk's "stooge" slur and reignited conservative skepticism about the financier's influence in Washington.
The two men have sparred for months, including an <a href="https://www.benzinga.com/news/politics/25/06/45829875/elon-musk-reportedly-slammed-into-scott-bessent-like-a-rugby-player-after-being-called-a-fraud-trump-said-this-is-too-much">April shouting match</a> inside the White House that reportedly turned physical. Bessent last week <a href="https://www.benzinga.com/news/politics/25/07/46217895/scott-bessent-says-senators-not-threatened-by-elon-musks-words-bill-advancing-under-trumps-leadership-more-than-anybodys-checkbook">had his say</a> on the Musk-Trump clash too where he said, "I think if Elon sticks to rockets, I will stick to finance."
Trump has stayed mostly silent since Musk's tirade, though he ridiculed the America Party as a "<a href="https://www.benzinga.com/news/politics/25/07/46266957/trump-calls-america-party-a-train-wreck-blasts-elon-musk-for-going-completely-off-the-rails-president-says-system-not-designed-for-a-third-player">train wreck</a>" and warned a third party would sow chaos.
Photo Courtesy: Shutterstock/Joshua Sukoff
Read next: <a href="https://www.benzinga.com/news/politics/25/07/46267326/elon-musks-america-party-is-a-move-in-the-opposite-direction-says-dan-ives-analyst-gary-black-says-difficult-to-predict-impact-on-tesla-brand-short-term">Elon Musk&#8217;s America Party Is A Move In The &#8216;Opposite Direction,&#8217; Says Dan Ives, Analyst Gary Black Says Difficult To Predict Impact On Tesla Brand Short Term</a>

Elon Musk Calls Scott Bessent 'Soros Stooge' Who Can't 'Do Math' After Treasury Secretary Said Tesla CEO Was Polling Badly

Gerber Kawasaki's co-founder, Ross Gerber, says that Elon Musk's Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) needs to incorporate LiDAR technology into its Robotaxis.
What Happened: Taking to social media platform X on Sunday, the investor shared his thoughts on the EV giant's FSD or Full Self-Driving technology, a crucial element in Musk's Robotaxi ambitions.
"At some point Tesla will have to accept that Lidar and radar are redundancies that are needed to make FSD driving safe enough to scale," Gerber said in the post.
Gerber called the visualizations rendered by LiDAR "way more detailed and accurate" in contrast to Tesla's current camera-based FSD technology.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">At some point tesla will have to accept that Lidar and radar are redundancies that are needed to make FSD driving safe enough to scale. The visualizations are way more detailed and accurate.
&mdash; Ross Gerber (@GerberKawasaki) <a href="https://twitter.com/GerberKawasaki/status/1941579290417811947?ref_src=twsrc%5Etfw">July 5, 2025</a></blockquote>
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Why It Matters: The comments from Gerber come in as Tesla's Robotaxi has invited scrutiny from the NHTSA over <a href="https://www.benzinga.com/markets/tech/25/06/46067027/tesla-robotaxi-faces-nhtsa-scrutiny-over-traffic-violations-during-austin-launch">possible traffic violations</a> during the limited rollout event in Austin.
Amid the launch, there is some buzz around <a href="https://www.benzinga.com/markets/tech/25/06/46048103/teslas-robotaxi-rollout-sparks-expansion-buzz-elon-musks-company-says-fsd-can-be-deployed-anywhere-after-austin-launch">Tesla possibly licensing FSD</a> technology to other automakers. "There are a number of major automakers that have talked to us about licensing self-driving and we&#8217;re very much open to that," Musk had said in an interview earlier.
Despite scrutiny, some experts, including Future Fund LLC's Gary Black, believe the <a href="https://www.benzinga.com/markets/tech/25/06/46133153/tesla-robotaxi-has-a-major-advantage-over-rivals-waymo-and-zoox-says-gary-black-could-be-very-significant">company has an advantage</a> over its rivals, including Alphabet Inc.'s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) Waymo, which lies in Tesla's scalability.
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="199" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/06235536/TSLA-JUL-7-2025-1024x199.jpg" alt="" class="wp-image-973948" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/06235536/TSLA-JUL-7-2025-1024x199.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/06235536/TSLA-JUL-7-2025-300x58.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/06235536/TSLA-JUL-7-2025-768x149.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/06235536/TSLA-JUL-7-2025-1536x299.jpg 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/06235536/TSLA-JUL-7-2025.jpg 1569w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
Tesla offers satisfactory Momentum while scoring well on the Growth and Quality metrics, but the stock offers poor Value. For more such insights, sign up for<a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"> Benzinga Edge Stock Rankings</a> today!
Check out more of Benzinga's Future Of Mobility coverage by<a href="https://www.benzinga.com/topic/mobility"> following this link.</a>
Read Next:
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/tech/25/07/46258669/tesla-made-2-76-billion-from-zev-credits-in-2024-in-us-but-trumps-tax-bill-just-killed-this-revenue-stream">Tesla Made $2.76 Billion From ZEV Credits In 2024 In US But Trump's Tax Bill Just Killed This Revenue Stream</a></li>
</ul>
Photo courtesy: VTT Studio / Shutterstock.com

GOOG

GOOGL

Elon Musk's Tesla Must Embrace LiDAR To Scale FSD, Says Ross Gerber

U.S. Stock futures slipped on Sunday evening, following the Fourth of July weekend, after President Donald Trump&#8217;s confirmation regarding the reciprocal tariffs that are set to go into effect on August 1, instead of July 9. 
The&nbsp;S&amp;P 500 Futures&nbsp;trade at 6,297.50, down 0.43%, followed by&nbsp;Nasdaq Futures&nbsp;at 22,956.50, down 0.46%, and finally&nbsp;Dow Jones Futures&nbsp;down 0.33%, trading at 44,944.00, at the time of writing this.
This comes amid President Donald Trump saying that he would be sending out letters to America&#8217;s trading partners, announcing that tariffs would be back to April 2 levels, if there was no progress being made on signing a trade deal with the United States by then, according <a href="https://www.cnbc.com/2025/07/06/stock-market-today-live-updates.html">to</a> a report by CNBC.
See Also: <a href="https://www.benzinga.com/news/social-media/25/07/46265991/donald-trump-announces-upcoming-talks-with-china-on-tiktok-we-pretty-much-have-a-deal">Donald Trump Announces Upcoming Talks With China On TikTok: &#8216;We Pretty Much Have A Deal&#8217;</a>
Speaking alongside Trump, Commerce Secretary Howard Lutnick said that the tariffs will go into effect on August 1, adding that &#8220;the president is setting the rates, and the deals, right now,&#8221; to which Trump nodded in approval.
Treasury Secretary Scott Bessent said the same during his appearance on CNN&#8217;s &#8220;State of the Union&#8221; earlier in the day, saying that tariffs will &#8220;boomerang&#8221; back to &#8220;Liberation Day&#8221; levels, &#8220;if things don&#8217;t move along.&#8221;
Japan&#8217;s Nikkei 225 benchmark is down 204 points or 0.51%, trading at 39,608, with engineering, electronics and export-oriented stocks leading the decline.
The U.S. Dollar Index (DXY) is up 0.10%, trading at 97.098 against a basket of currencies, recovering from its lowest levels in over three years last week, hit by <a href="https://www.benzinga.com/markets/market-summary/25/07/46190058/asia-markets-mixed-europe-slips-dollar-weakens-further-as-tariff-deadline-looms-global-markets-today-while-us-slept">growing fiscal concerns</a>, persistent trade uncertainties and expectations of faster rate cuts by the Federal Reserve. 
While there are no noteworthy data releases or economic events on Monday, investors will be closely watching Barnes &amp; Noble Education Inc.&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BNED#NYSE">BNED</a>) third quarter results later in the day.
khunkornStudio via Shutterstock
Read More: 
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<li><a href="https://www.benzinga.com/news/politics/25/07/46263813/trump-to-send-take-it-or-leave-it-tariff-letters-to-12-countries-on-monday-report">Trump to Send &#8216;Take It Or Leave It&#8217; Tariff Letters To 12 Countries On Monday: Report</a></li>
</ul>

BNED

Dow Futures Slip Over 100 Points Amid Trump's August Deadline On Tariffs

President Donald Trump announced on Sunday that he will impose an additional 10% tariff on any country that aligns with BRICS&#8217; anti-American policies, escalating trade tensions as his July 9 deadline approaches for comprehensive tariff restructuring.
What Happened: Trump posted on Truth Social that &#8220;any Country aligning themselves with the Anti-American policies of BRICS, will be charged an ADDITIONAL 10% Tariff. There will be no exceptions to this policy.&#8221; The announcement came hours before he confirmed tariff letters would be delivered to various countries starting Monday at 12:00 p.m. Eastern.
<figure class="wp-block-image size-large is-resized"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/06231835/Screenshot-2025-07-07-at-8.48.13%E2%80%AFAM-1024x409.png" alt="" class="wp-image-973904" style="width:608px;height:auto" /></figure>
<figure class="wp-block-image size-large is-resized"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/06231849/Screenshot-2025-07-07-at-8.48.20%E2%80%AFAM-1024x337.png" alt="" class="wp-image-973905" style="width:625px;height:auto" /></figure>
BRICS is an intergovernmental alliance of ten nations: Brazil, Russia, India, China, South Africa, Egypt, Ethiopia, Indonesia, Iran, and the United Arab Emirates.
The BRICS threat represents a significant expansion of Trump&#8217;s tariff strategy, which already includes base rates of 10% with additional levies reaching up to 70% for some nations. The president suspended most tariffs except the 10% base rate in April for 90 days of negotiations, a <a href="https://www.benzinga.com/news/politics/25/07/46263399/trump-says-us-will-raise-tariffs-to-up-to-70-as-july-9-deadline-looms">period ending July 9</a>.
See Also: <a href="https://www.benzinga.com/personal-finance/management/25/07/46264668/elon-musks-father-says-he-warned-his-son-against-going-into-politics-hes-not-a-very-good-politician-at-all">Elon Musk&#8217;s Father Says He Warned His Son Against Going Into Politics – &#8216;He&#8217;s Not a Very Good Politician At All&#8217;</a>
Why It Matters: According to Reuters, Trump has signed &#8220;take it or leave it&#8221; letters to 12 countries detailing specific tariff rates. Commerce Secretary Howard Lutnick confirmed the <a href="https://www.benzinga.com/news/politics/25/07/46263813/trump-to-send-take-it-or-leave-it-tariff-letters-to-12-countries-on-monday-report">administration plans to finalize deals</a> with ten major trading partners by the July 9 deadline, with tariffs taking effect August 1.
The BRICS announcement adds complexity to ongoing negotiations with major economies. Trump recently threatened Japan with 35% tariffs if no agreement is reached, while securing a trade deal with Vietnam, imposing 20% tariffs on Vietnamese exports and 40% on transshipped goods, <a href="https://www.benzinga.com/news/politics/25/07/46241070/trumps-vietnam-trade-deal-with-40-tax-on-transshipments-may-result-in-chinese-backlash-say-economists-they-want-inflation">particularly targeting Chinese products</a>.
Trump&#8217;s strategy has shifted from comprehensive negotiations to bilateral letters, which he <a href="https://www.benzinga.com/news/politics/25/06/46163327/trump-starmer-trade-deal-kicks-in-uk-luxury-cars-get-10-tariff-rolls-royce-engines-fly-duty-free-into-us">considers more efficient than complex trade talks</a>. Only the United Kingdom has secured preferential treatment, with auto tariffs reduced from 27.5% to 10% and aerospace duties eliminated, benefiting companies like Rolls-Royce Holdings.
The Federal Reserve has expressed caution about interest rate cuts due to potential inflationary impacts from escalating tariffs. 
Read Next: 
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Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

Trump Threatens 10% 'Additional' Tariff On All BRICS-Aligned Nations, Says Tariff Letters Drop At Noon Monday

Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) is trading higher overnight Sunday after Elon Musk launched his new political party.
What Happened: The dog-themed memecoin spiked over 6% in the last 24 hours, with trading volume exploding 179% to $1.19 billion.
DOGE's open interest lifted over 8%, <a href="https://www.coinglass.com/BitcoinOpenInterest">according </a>to Coinglass, indicating high speculative interest for the cryptocurrency.&nbsp;
Additionally, large transactions valued at over $100,000 jumped 41% in the last 24 hours, while daily active addresses spiked nearly 35%, <a href="https://app.intotheblock.com/">according</a> to IntoTheBlock.
The uptick comes after the tech mogul <a href="https://www.benzinga.com/news/politics/25/07/46265725/elon-musk-announces-formation-of-america-party-emerges-in-wake-of-donald-trumps-historic-spending-bill">announced the formation</a> of a new political party, the "America Party&#8221; as a countermeasure to what he views as a flawed two-party system. 
The launch follows President&nbsp;Donald Trump‘s signing a significant spending bill, one that Musk has been vehemently critical of.
Musk has been a known<a href="https://www.benzinga.com/general/education/25/01/42794433/if-you-invested-1000-in-dogecoin-when-elon-musk-acquired-twitter-heres-how-much-youd-have-now" target="_blank" rel="noreferrer noopener"> supporter of the DOGE</a>&nbsp;meme coin, and even the acronym&nbsp;for Department of Government Efficiency, an entity which he created, bears an uncanny reference to the canine-themed coin.
Price Action:&nbsp; At the time of writing, DOGE was exchanging hands at $0.1740, up 6.3% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>.
Photo Courtesy: Stanslavs on Shutterstock.com
Read Next:&nbsp;
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/news/politics/25/07/46267181/elon-musks-america-party-polymarket-users-bet-on-andrew-yang-mark-cuban-joining-new-political-front">Elon Musk&#8217;s America Party: Polymarket Users Bet On Andrew Yang, Mark Cuban Joining New Political Front </a></li>
</ul>

Movers

$DOGE

Dogecoin Shoots Up Over 6% As Elon Musk Launches America Party, Large Transactions Spike

Leading cryptocurrencies rose on Sunday while stock futures fell as the Trump administration extends tariff deadline.
<figure class="wp-block-table"> 
<table class="has-fixed-layout">
<thead>
<tr>
<th>Cryptocurrency</th>
<th>Gains +/-</th>
<th>Price (Recorded at 10:20 p.m. ET)</th>
</tr>
</thead>
<tbody>
<tr>
<td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td>
<td>+0.68%</td>
<td>$108,984.99</td>
</tr>
<tr>
<td>Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td>
<td>+1.76%</td>
<td>$2,560.46</td>
</tr>
<tr>
<td>Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td>
<td>+5.30%</td>
<td>$0.1728</td>
</tr>
</tbody>
</table>
</figure>
What Happened: Bitcoin surged to an intraday high of $109,731.63, with trading volume jumping by nearly 25% in the last 24 hours.
Ethereum, the second-largest cryptocurrency, reached a high of $2,600 but then fell back to around $2,500.
The rally wiped out $134 million in bearish short positions in the last 24 hours. More than $300 million in downside bets risked liquidation if Bitcoin made a new high.
Bitcoin&#8217;s open interest rose 2.41% in the last 24 hours to $74 billion, while Ethereum recorded a 3.90% jump in funds locked in unsettled derivatives contracts.&nbsp;
The "Greed" sentiment strengthened from 66 to 73 in the last 24 hours, according to the Crypto Fear &amp; Greed Index.
Top Gainers (24 Hours)
<figure class="wp-block-table aligncenter"> 
<table class="has-fixed-layout">
<thead>
<tr>
<th>Cryptocurrency</th>
<th>Gains +/-</th>
<th>Price (Recorded at 10:20 p.m. ET)</th>
</tr>
</thead>
<tbody>
<tr>
<td>Floki(FLOKI)</td>
<td>+16.67%</td>
<td>$0.00008772</td>
</tr>
<tr>
<td>Bonk(BONK)&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td>
<td>+13.94%</td>
<td>$0.0000225</td>
</tr>
<tr>
<td>Celestia(TIA)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td>
<td>+9.53%</td>
<td>$1.63 </td>
</tr>
</tbody>
</table>
</figure>
The global cryptocurrency market capitalization stood at $3.36 trillion, surging 3.49% in the last 24 hours.
Stock futures inched lower overnight Sunday. The Dow Jones Industrial Average Futures fell 139 points, or 0.30%, as of 9:40 p.m. EDT.&nbsp; Futures tied to the S&amp;P 500 slid 0.43%, while Nasdaq 100 Futures lost 0.53%.
Commerce Secretary Howard Lutnick told reporters that Trump's planned tariffs will take effect on August 1, further extending the previously set July 9 deadline, Bloomberg <a href="https://www.bloomberg.com/news/articles/2025-07-06/lutnick-says-trump-s-tariffs-will-take-effect-on-august-1?srnd=homepage-americas">reported</a>.
Stocks have hit new highs lately, with the Nasdaq Composite and the S&amp;P 500 surging 5.48% and 4.65% over the past month.
See More: <a href="https://www.benzinga.com/money/best-crypto-scanners">Best Cryptocurrency Scanners</a>
Analyst Notes: A cryptocurrency-focused X account, Oz, with a significant following, predicted Bitcoin to hit $150,000 by late August.&nbsp;
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">I love the fact <a href="https://twitter.com/search?q=%24btc&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$btc</a> will be at or over $150k by late August&#8230; And no one believes it..
&mdash; Oz (@AskCryptoWealth) <a href="https://twitter.com/AskCryptoWealth/status/1941999644256403882?ref_src=twsrc%5Etfw">July 6, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Another well-known cryptocurrency analyst, Michaël van de Poppe, anticipated a "massive" altseason, citing the altcoin season index.
"For the past 5 years, the Altcoins Season Index bottomed in the summer, primarily in June of every year. What followed? A strong second half of the year for altcoins," the analyst stated.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The <a href="https://twitter.com/hashtag/Altcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Altcoin</a> season index is showing that we&#39;re about to fire up a massive altseason. For the past 5 years, the <a href="https://twitter.com/hashtag/Altcoins?src=hash&amp;ref_src=twsrc%5Etfw">#Altcoins</a> Season Index bottomed in the Summer, primarily in June of every year. What followed? A strong second half of the year for Altcoins. Given that we&#39;re… <a href="https://t.co/gTfrkrqMGh">pic.twitter.com/gTfrkrqMGh</a>
&mdash; Michaël van de Poppe (@CryptoMichNL) <a href="https://twitter.com/CryptoMichNL/status/1941851375572254748?ref_src=twsrc%5Etfw">July 6, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Photo: Yalcin Sonat/Shutterstock
Read Next:&nbsp;&nbsp;&nbsp;&nbsp;
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<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/07/46262329/the-surprising-factor-behind-crypto-flash-crashes-and-its-not-trading-bots">The Surprising Factor Behind Crypto Flash Crashes—And It&#8217;s Not Trading Bots</a></li>
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$ETH

Bitcoin, Ethereum, Dogecoin Gain As Trump Tariffs Deadline Delayed: 'Massive' Altcoin Season In The Works, Says This Analyst

Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) CEO Elon Musk announced a <a href="https://www.benzinga.com/news/politics/25/07/46265725/elon-musk-announces-formation-of-america-party-emerges-in-wake-of-donald-trumps-historic-spending-bill">new political entity</a> over the weekend, dubbed the &#8220;America Party,&#8221; which has since sparked mixed reactions among investors, analysts and loyalists. 
Check out the current price of&nbsp;<a href="https://www.benzinga.com/quote/TSLA" target="_blank" rel="noreferrer noopener">TSLA stock here.</a>
What Happened: On Sunday, in a post on X, Wedbush Securities senior analyst Dan Ives was blunt in his assessment, saying Musk's move was &#8220;exactly the opposite direction&#8221; of what most investors would have wanted him to take, during what he refers to as a &#8220;crucial period for Tesla.&#8221;
Ives says he gets why Musk is doing this, but adds that it&#8217;s just causing exhaustion for investors in the company, as the stock dropped over 6% in pre-market trade, before recovering to -0.85% at the time of writing this, in response to the announcement. 
See Also: <a href="https://www.benzinga.com/markets/tech/25/07/46188592/peter-thiel-says-elon-musk-vision-of-a-billion-humanoid-robots-in-ten-years-makes-all-the-hand-wringing-over-deficits-look-unthought-through">Peter Thiel Says Elon Musk Vision Of A Billion Humanoid Robots In Ten Years Makes All The Hand-Wringing Over Deficits Look &#8216;Unthought-Through&#8217;</a>
<figure class="wp-block-embed aligncenter is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Musk diving deeper into politics and now trying to take on the Beltway establishment is exactly the opposite direction that most Tesla investors want him to take during this crucial period for Tesla. We get why Musk doing this…just causing exhaustion from many investors.
&mdash; Dan Ives (@DivesTech) <a href="https://twitter.com/DivesTech/status/1941846634893115791?ref_src=twsrc%5Etfw">July 6, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Long-time Tesla bull and CEO Gerber Kawasaki, Ross Gerber, also voiced his frustration, saying that &#8220;Waymo has solved autonomous driving. Meanwhile, Elon is starting a new political party.&#8221; 
His remark underscores concerns that Musk's focus may be drifting from Tesla's operational priorities at a pivotal time for the company.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Waymo has solved autonomous driving. Meanwhile Elon is starting a new political party.
&mdash; Ross Gerber (@GerberKawasaki) <a href="https://twitter.com/GerberKawasaki/status/1941597356157518266?ref_src=twsrc%5Etfw">July 5, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
The Managing Partner at the Future Fund, Gary Black, however, downplayed the impact this is set to have on Tesla, saying that he disagrees &#8220;with the doomsday crowd,&#8221; and believes it is unlikely to have any significant impact on the company&#8217;s shares in the long-term, while acknowledging that &#8220;it's difficult to predict the short term impact.&#8221;
Black says that it&#8217;s &#8220;highly unlikely&#8221; for this new political venture to gain much traction, noting the historical difficulty third parties have faced in the U.S. This, he says, would lead Musk to eventually focus on something else.
<figure class="wp-block-embed aligncenter is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">I disagree with the doomsday crowd who believe Elon's formation of the America Party will hurt the Tesla brand. While it's difficult to predict the short term impact, I doubt this will impact <a href="https://twitter.com/search?q=%24TSLA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$TSLA</a> stock longer term. IMHO the America Party is highly unlikely to get much… <a href="https://t.co/Js8WCkBZla">https://t.co/Js8WCkBZla</a>
&mdash; Gary Black (@garyblack00) <a href="https://twitter.com/garyblack00/status/1941998958814851391?ref_src=twsrc%5Etfw">July 6, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Musk&#8217;s loyalists and supporters, however, continue to rally behind him, with Tesla investor and influencer Dave Lee defending the billionaire entrepreneur&#8217;s motivations in a lengthy post on X, citing several personal sacrifices that Musk has made in recent months for national interest.
&#8220;You can&#8217;t make this stuff up,&#8221; Lee says, referring to President Donald Trump&#8217;s latest tirade against Musk, where he says that the latter has gone &#8220;off the rails&#8221; and is a &#8220;trainwreck,&#8221; despite him toiling and putting in 16-plus hour workdays leading the Department of Government Efficiency, only to have <a href="https://www.benzinga.com/news/politics/25/07/46187403/elon-musk-is-unhappy-with-trumps-big-beautiful-bill-and-just-reminded-everyone-that-80-voted-for-a-new-party">his work undone</a> by the &#8220;One Big, Beautiful Bill.&#8221;
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">I would be livid if I was Elon. Imagine you go all-in, receive tons of death threats, your companies are under fire, but you keep your head on the mission to cut costs thinking you're doing your part to save our country. You bring in the best and brightest young minds,… <a href="https://t.co/oD5zlFWXa4">https://t.co/oD5zlFWXa4</a>
&mdash; Dave Lee (@heydave7) <a href="https://twitter.com/heydave7/status/1942001391498592548?ref_src=twsrc%5Etfw">July 6, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Why It Matters: Last week, Trump asked Musk to &#8220;close up shop&#8221; in response to the <a href="https://www.benzinga.com/news/25/07/46252278/after-trump-warns-elon-musk-to-close-up-shop-china-rallies-behind-worlds-richest-man-theres-no-need">escalating feud with Musk</a>, and the latter&#8217;s growing criticism of the &#8220;Big, Beautiful Bill.&#8221;
Trump&#8217;s former personal attorney, Michael Cohen, who&#8217;s since become a vocal critic of the administration after serving a prison sentence for various charges, came out <a href="https://www.benzinga.com/news/politics/25/07/46266380/ex-trump-lawyer-sent-this-message-to-elon-musk-after-feud-with-donald-trump-erupted">in support of Musk</a> on Sunday.
Cohen asks Musk to send him a message if he wants to know &#8220;how to fight political guerrilla warfare,&#8221; while adding that he would lose otherwise, in a post on X. 
<figure class="wp-block-embed aligncenter is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">. <a href="https://twitter.com/elonmusk?ref_src=twsrc%5Etfw">@elonmusk</a> I told you this would happen. If you want to know how to fight political guerilla warfare, DM me! Otherwise, you lose. <a href="https://t.co/FN8uFS51te">https://t.co/FN8uFS51te</a>
&mdash; Michael Cohen (@MichaelCohen212) <a href="https://twitter.com/MichaelCohen212/status/1930781215076040850?ref_src=twsrc%5Etfw">June 6, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Price Action: Tesla shares ended Thursday down 0.10%, trading at $315.35, and are down 0.85% after hours owing to Musk&#8217;s political pivot. The shares have recovered by a 6% decline after hours just a couple of hours ago. 
<figure class="wp-block-image size-large"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img loading="lazy" decoding="async" width="1024" height="146" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/06222148/Screenshot-2025-07-07-at-7.51.34-AM-1024x146.png" alt="" class="wp-image-973879" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/06222148/Screenshot-2025-07-07-at-7.51.34-AM-1024x146.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/06222148/Screenshot-2025-07-07-at-7.51.34-AM-300x43.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/06222148/Screenshot-2025-07-07-at-7.51.34-AM-768x109.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/06222148/Screenshot-2025-07-07-at-7.51.34-AM.png 1532w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>
Shares of Tesla score well on Growth and Quality, while having a favorable price trend in the short, medium and long terms. Click <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">here</a> for deeper insights into the stock, its peers and competitors.
Photo Courtesy: Tada Images On Shutterstock.com
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</ul>

Large Cap

Elon Musk's America Party Is A Move In The 'Opposite Direction,' Says Dan Ives, Analyst Gary Black Says Difficult To Predict Impact On Tesla Brand Short Term

Cryptocurrency bettors are strongly believing that entrepreneur and former presidential candidate Andrew Yang will join tech mogul Elon Musk's new political party.
What Happened: Yang had the highest possibility of joining Musk&#8217;s new political front before October, at 44%, <a href="https://polymarket.com/event/who-will-join-the-america-party-before-october?tid=1751848292655">according </a>to the decentralized prediction tool Polymarket.
Notably, billionaire investor and entrepreneur Mark Cuban, an outspoken critic of Musk, had a 28% probability of joining the party as of this writing.
Polymarket, based on Polygon (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">POL</a>), allows users to buy "Yes" and "No" shares in USDC (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">USDC</a>) stablecoin. The shares representing the correct outcome are paid out $1 USDC each upon market resolution.
Yang has been seen leaning toward Musk's side after he said in an X post that he would rather support a person "who enabled space rockets and electric cars" over the guy "who branded steaks."
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">In a feud between the guy who enabled space rockets and electric cars and the guy who branded steaks and a fake university, I'd bet on the former.
&mdash; Andrew Yang&#x1f9e2;&#x2b06;&#xFE0F;&#x1f1fa;&#x1f1f8; (@AndrewYang) <a href="https://twitter.com/AndrewYang/status/1942020226507329704?ref_src=twsrc%5Etfw">July 7, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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Yang himself founded the <a href="https://www.benzinga.com/news/22/07/28238557/democrats-republicans-form-third-party-forward-andrew-yang">&#8220;Forward&#8221; party in 2022</a> with the support of former Republicans and Democrats, aiming to become the third alternative in American politics. He has previously questioned the leadership of both President Donald Trump and former President Joe Biden.
Yang is also a <a href="https://www.benzinga.com/markets/cryptocurrency/22/03/25988651/exclusive-interview-with-andrew-yang-on-financial-inclusion-through-web-3">known advocate for Web3 technology</a>.
See Also:<a href="https://www.benzinga.com/25/04/44621245/gold-backed-cryptos-match-yellow-metals-highs-following-trumps-liberation-day-shock"> </a><a href="https://www.benzinga.com/crypto/cryptocurrency/25/06/46149584/why-crypto-investors-are-receiving-internal-revenue-service-warning-letters">Why Crypto Investors Are Receiving Internal Revenue Service Warning Letters</a>
Why It Matters: Musk <a href="https://www.benzinga.com/news/politics/25/07/46265725/elon-musk-announces-formation-of-america-party-emerges-in-wake-of-donald-trumps-historic-spending-bill">announced the launch</a> of America Party in the wake of Trump signing of a significant spending bill last week. He has disapproved of the bill's spending measures and formed the new party as a countermeasure to what he views as a flawed two-party system.
Cuban <a href="https://www.benzinga.com/news/politics/25/07/46266046/anthony-scaramucci-wants-to-discuss-new-party-with-musk-mark-cuban-offers-ballot-access-aid">indicated his willingness to collaborate</a> with the Center for Competitive Democracy to assist the party in getting on ballots, while Anthony Scaramucci showed interest in meeting Musk to discuss the party.
Photo Courtesy: Photo Agency on Shutterstock.com
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$POL

$USDC

Elon Musk's America Party: Polymarket Users Bet On Andrew Yang, Mark Cuban Joining New Political Front

Prominent U.S. leaders, including Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) CEO Tim Cook, former President Barack Obama and officials from both parties, reacted with grief and solidarity as <a href="https://www.benzinga.com/news/health-care/25/07/46265894/unprecedented-texas-flash-floods-result-in-over-50-fatalities-27-girls-still-missing">catastrophic floods in Texas</a> left at least 78 dead and dozens more missing.
What Happened: Cook took to X, formerly Twitter, on Sunday and said, "We are heartbroken by the devastating loss caused by the flooding in Texas."
He promised that Apple would help with relief and recovery efforts on the ground.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">We are heartbroken by the devastating loss caused by the flooding in Texas. Thank you to the incredible first responders and all those providing aid. Apple will support relief and recovery efforts on the ground.
&mdash; Tim Cook (@tim_cook) <a href="https://twitter.com/tim_cook/status/1941629573784829999?ref_src=twsrc%5Etfw">July 5, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
See Also: <a href="https://www.benzinga.com/markets/tech/25/07/46266546/anti-trump-climate-protesters-storm-nyc-apple-store-confront-ceo-tim-cook-amid-texas-flood-crisis">Anti-Trump Climate Protesters Storm NYC Apple Store, Confront CEO Tim Cook Amid Texas Flood Crisis</a>
Obama called the flooding "heartbreaking" and said he and Michelle Obama are praying for everyone who lost someone or is waiting for news, especially the parents of missing children.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The flash flooding in Central Texas is absolutely heartbreaking. Michelle and I are praying for everyone who has lost a loved one or is waiting for news — especially the parents. And we're grateful to the first responders and rescue teams working around the clock to help.
&mdash; Barack Obama (@BarackObama) <a href="https://twitter.com/BarackObama/status/1941908219267281373?ref_src=twsrc%5Etfw">July 6, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Sen. Elizabeth Warren (D-Mass.) called it "unimaginable heartbreak," while former Speaker Nancy Pelosi (D-Calif.) said, "America's heart is broken for the families and communities devastated by the deadly floods in Texas this weekend."
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Unimaginable heartbreak in Texas from these deadly flash floods. My thoughts are with everyone devastated and the families still holding on to hope to find their loved ones.
&mdash; Elizabeth Warren (@SenWarren) <a href="https://twitter.com/SenWarren/status/1941993281744703631?ref_src=twsrc%5Etfw">July 6, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
<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">America's heart is broken for the families and communities devastated by the deadly floods in Texas this weekend. Our prayers go out to all who have lost children and loved ones, those still searching for the missing, and the brave first responders.
&mdash; Nancy Pelosi (@SpeakerPelosi) <a href="https://twitter.com/SpeakerPelosi/status/1941936681336135768?ref_src=twsrc%5Etfw">July 6, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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Florida Gov. Ron DeSantis (R) pledged active assistance, deploying three swiftwater rescue teams to Texas via the Emergency Management Assistance Compact (EMAC).
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Florida will support Texas following the catastrophic flooding in Kerrville and the surrounding areas. At my direction, <a href="https://twitter.com/FLSERT?ref_src=twsrc%5Etfw">@FLSERT</a> is deploying three swiftwater rescue teams through an EMAC to assist with response and recovery. We're standing by to lend more help as requested.
&mdash; Ron DeSantis (@GovRonDeSantis) <a href="https://twitter.com/GovRonDeSantis/status/1941906135465754868?ref_src=twsrc%5Etfw">July 6, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Why It's Important: The floods, triggered by torrential rain that caused the Guadalupe River to overflow, have claimed at least 78 lives, including 28 children, officials confirmed Sunday, reported Reuters.
The epicenter was Kerr County, where most of the fatalities occurred. Ten others died across four neighboring counties, and at least 41 people remain missing. More than 850 people have been rescued so far, many clinging to trees as a second wave of flooding looms, the report said.
Among the hardest-hit locations was Camp Mystic, a nearly century-old Christian girls&#8217; summer camp, where 10 campers and one counselor remain unaccounted for.
President Donald Trump, speaking from New Jersey, offered condolences and said he would likely visit the area Friday. "It's a horrible thing that took place… God bless the state of Texas," he said.
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Photo Courtesy: Westlight on Shutterstock.com
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

AAPL

Tim Cook Says 'Heartbroken' By Devastating Loss Caused By Texas Floods, Ron DeSantis Vows To Support Lone Star State

What Happened: On Sunday, Donald Trump expressed his discontent with Elon Musk over his <a href="https://www.benzinga.com/news/politics/25/07/46265725/elon-musk-announces-formation-of-america-party-emerges-in-wake-of-donald-trumps-historic-spending-bill">announcement of the &#8220;America Party.&#8221; </a>
Trump criticized Musk for his intention to establish a third political party, describing it as a &#8220;Train Wreck.&#8221; The president argued that third parties have historically failed in the U.S. and only cause &#8220;Disruption &amp; Chaos.&#8221; 
&#8220;The System seems not designed for them,&#8221; wrote Trump on Truth Social.
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="606" height="922" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/06202354/Screenshot-2025-07-07-at-9.23.34.png" alt="" class="wp-image-973819" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/06202354/Screenshot-2025-07-07-at-9.23.34.png 606w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/06202354/Screenshot-2025-07-07-at-9.23.34-197x300.png 197w" sizes="(max-width: 606px) 100vw, 606px" /></figure>
Screenshot from Donald Trump&#8217;s Truth Social Account
He also highlighted the recent success of the Republican Party, which passed a major bill eliminating the Electric Vehicle Mandate. Trump emphasized that he has always opposed the mandate, advocating for consumer choice in vehicle purchases. 
Trump mentioned that Musk had previously endorsed him despite knowing his stance on the EV Mandate. He also raised concerns about Musk&#8217;s suggestion for a NASA appointment, questioning the appropriateness of Musk&#8217;s friend, a Democrat, for the role.
The president said that his &#8220;Number One charge is to protect the American Public!&#8221;
See Also: <a href="https://www.benzinga.com/news/politics/25/07/46256467/gavin-newsom-is-going-to-south-carolina-next-week-to-remind-rural-voters-there-they-arent-forgotten-presidential-run-in-2028-on-the-cards">Gavin Newsom Is Going To South Carolina Next Week To Remind Rural Voters There They Aren&#8217;t Forgotten, Presidential Run In 2028 On The Cards? </a> Why It Matters: Musk&#8217;s recent political activities, including the formation of the &#8220;America Party,&#8221; have stirred significant attention. He launched this party following Trump&#8217;s signing of a historic spending bill. Musk&#8217;s dissatisfaction with the bill and the two-party system prompted this move. 
The entrepreneur&#8217;s displeasure with Trump&#8217;s &#8220;Big, Beautiful Bill&#8221; led to a poll where 80% of respondents <a href="https://www.benzinga.com/news/politics/25/07/46187403/elon-musk-is-unhappy-with-trumps-big-beautiful-bill-and-just-reminded-everyone-that-80-voted-for-a-new-party">supported a new party</a>. 
Notably, the Libertarian Party had invited him to join their ranks, suggesting that forming a new party <a href="https://www.benzinga.com/news/politics/25/07/46239662/elon-musk-receives-invitation-to-join-libertarian-party-making-a-new-third-party-would-be-a-mistakea">might be a mistake</a>.
Photo Courtesy: Joey Sussman on Shutterstock.com
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This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

General

Trump Calls America Party A 'Train Wreck,' Blasts Elon Musk For Going Completely 'Off The Rails': President Says System Not Designed For A Third Player

A millennial woman on <a href="https://www.reddit.com/r/Millennials/comments/1lpfh5b/be_honest_how_many_of_you_still_get_help_from/">Reddit</a> recently asked a simple question: &#8220;Be honest — how many of you still get help from your parents/family?&#8221;
Her husband is firmly against it, insisting they don&#8217;t accept any financial support from relatives. But she's surrounded by friends who've gotten major help with everything from student loan payments to <a href="https://www.benzinga.com/personal-finance/25/02/43741282/dave-ramsey-says-parents-shouldnt-buy-their-teenagers-cars-it-creates-ridiculous-expectations-for-life">free cars</a> and child care.
<h2 class="wp-block-heading">Millennials Sound Off</h2>
The post sparked a flood of deeply personal replies. While a few agreed with her husband's stance, the overwhelming theme was that help from family is either a lifesaver or a painful, complicated mess.
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&#8220;Quite the opposite. I have supported them,&#8221; one person wrote, summarizing what many others echoed. A number of millennials said they've taken on financial responsibility for their parents or other relatives, sometimes at great personal cost.
One commenter said, &#8220;I&#8217;ve ended up drowning in debt because of my parents. And then they&#8217;ll get mad when I can&#8217;t help them because I&#8217;m -40 bucks in my bank account.&#8221;
<h2 class="wp-block-heading">No Help At All, Or Strings Attached</h2>
Many said they receive no support at all. Some parents couldn't afford to help. Others used money as a weapon. &#8220;My mom thinks financial help = control,&#8221; one wrote.
&#8220;My parents would LOVE for me to come ask them for money,&#8221; someone added. &#8220;They would have so much fun forcing me to grovel, pulling up my bank account and shaming me for <a href="https://www.benzinga.com/25/05/45655593/just-realized-i-spent-1089-at-starbucks-in-7-months-a-middle-class-coffee-addict-wonders-if-blowing-a-mortgage-payment-on-lattes-is-normal">buying a coffee</a>, making me write out a business plan with detailed payback dates etc. I&#8217;d rather live in my car.&#8221;
A common thread was the trauma of growing up with financially comfortable parents who made them feel like a burden. One person said, &#8220;Not a day went by in my childhood where my parents didn&#8217;t complain about how much money I cost them.&#8221;
Trending: Tired of Grid Failures and Charging Deserts? This Startup Has a Solar Fix and $25M+ in Sales — <a href="https://www.benzinga.com/money/meet-the-company-seeking-to-give-americans-energy-independence-and-learn-how-you-can-become-an-early-investor">Now Raising at $3/Share</a>
<h2 class="wp-block-heading">For Others, Help Is Freely Given</h2>
On the flip side, many users shared heartwarming stories of parents or in-laws who offer help without expectations.
&#8220;My mom picks my kid up off the bus three afternoons a week and it saves me $70 a week. I'm very grateful,&#8221; one wrote. Another said, &#8220;My dad will take my car and fill it up with gas [when we visit]. We&#8217;re geriatric millennials. It's quite funny.&#8221;
One commenter explained that their in-laws help with school expenses and even make dinner when they visit. &#8220;It's very nice. I should really tell them more how nice it is.&#8221;
Several said their parents want to help now, while they're alive, instead of <a href="https://www.benzinga.com/personal-finance/25/03/44235244/inheritance-boom-the-6t-windfall-reshaping-wealth-in-2025">leaving an inheritance</a> later. One person reflected: &#8220;They want to see my sibling and I enjoying our lives, not just leave us money when they die.&#8221;
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<h2 class="wp-block-heading">Childcare Is A Game-Changer</h2>
Free or subsidized <a href="https://www.benzinga.com/news/25/04/44999168/reason-people-dont-have-kids-earlier-is-theyre-expensive-says-kevin-oleary-however-time-is-the-one-thing-money-cant-buy">childcare</a> came up repeatedly. As one person said, &#8220;Parents of young children have no idea how much they're living life on easy mode when they have their own parents around to step in as babysitters.&#8221;
One person said they bought a house next to their in-laws in hopes of getting help once kids arrived. Others said grandparents caring for kids helped them survive illness, cancer recovery, or high daycare costs.
But others noted that even retired grandparents can be completely uninvolved. &#8220;None of my kids' grandparents work, and none of them offer to help with my kids, and I mean never.&#8221;
Millennials aren&#8217;t all in the same boat. Some are getting a financial cushion from their families, while others are giving everything they have just to keep their families afloat. For many, any help, whether it&#8217;s money, time, or kindness, can mean the difference between drowning and staying above water.
If that help is healthy and freely given, more than a few people say: take it.
Read Next: The average American couple has saved this much money for retirement —<a href="http://www.benzinga.com/money/smartasset"> How do you compare</a>?
Image: Shutterstock

Personal Finance

A Millennial Asked, 'Do You Still Get Help From Family?' Her Husband Refuses But Friends Get Free Cars And Daycare Or Paid Off Student Loans

You've probably wondered it. Maybe even scrolled through Reddit hoping to find a hint: Am I <a href="https://www.benzinga.com/personal-finance/24/09/41075540/is-your-401-k-balance-above-average-find-out-if-youre-beating-most-savers">actually on track for retirement</a>—or falling behind everyone else I know?
Whether you're 40, 50, or staring down 60, the question nags at almost everyone: How much should I have saved by now? And more importantly—how do I stack up?
The good news? You don't need to guess. Financial experts have laid out clear retirement savings benchmarks. The even better news? If you're checking in now, you're already ahead of the many who avoid this question altogether.
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<h2 class="wp-block-heading">What You Should Have Saved by Now</h2>
According to Fidelity's retirement guidelines, you should aim to have saved three times your annual salary by age 40, six times by 50, and eight times by 60. By retirement age—typically around 67—they recommend hitting ten times your salary to comfortably maintain your lifestyle.
If you're earning $70,000 a year, that means you should have about $210,000 by 40, $420,000 by 50, and $560,000 by 60. These numbers assume you're saving consistently, investing for growth, and planning to replace roughly 70% to 80% of your pre-retirement income when you stop working.
If your savings line up with those numbers—or even exceed them—you're likely ahead of the curve. But how do these ideal targets compare to what most people have actually saved?
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<h2 class="wp-block-heading">What People Actually Have in Retirement Accounts</h2>
According to the <a href="https://www.federalreserve.gov/econres/scfindex.htm">Federal Reserve's 2022 Survey of Consumer Finances</a>, as well as recent analysis from SmartAsset and Synchrony Bank, the typical American household falls well below those expert targets.
The median retirement savings for people aged 35 to 44 is about $45,000. For those aged 45 to 54, it's approximately $115,000. By age 55 to 64—the decade when most people are eyeing retirement—it rises to around $185,000.
These are medians, not averages, which means they represent the midpoint—not inflated figures thrown off by <a href="https://www.benzinga.com/personal-finance/25/01/43076826/how-does-your-nest-egg-stack-up-heres-what-it-takes-to-be-in-the-top-10-of-retirement-savers">a few very high balances</a>. In other words, they reflect what most people actually have.
So if you're looking at your retirement account and seeing numbers well above those medians, you're not just keeping up—you're outperforming a large percentage of your peers. If you're below them, you're not alone, but it may be time to reevaluate your savings pace.
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<h2 class="wp-block-heading">What to Do If You're Behind</h2>
If your current savings fall short of the benchmarks, don't panic. There's still time to make a meaningful shift.
Start by automating contributions to your 401(k) or IRA. If you're over 50, take advantage of catch-up contribution limits to increase how much you can put away tax-deferred. Even small, consistent increases in savings—especially when invested for growth—can have a major impact over time.
Revisit your budget and see where you might free up extra cash. And if needed, consider adjusting your retirement timeline. Working a few more years can help you save more and reduce the number of years your savings will need to support you.
Whether your <a href="https://www.benzinga.com/money/smartasset">retirement account is ahead of the curve</a> or still playing catch-up, the most important move isn't hitting the perfect number—it's making sure you're moving in the right direction.
Read Next: Many are using retirement income calculators to check if they&#8217;re on pace —<a href="https://www.benzinga.com/money/how-do-i-calculate-my-retirement-income-adv"> here&#8217;s a breakdown on what&#8217;s behind this formula.</a>
Image: Shutterstock

Here's How Much You Should Have Saved for Retirement by 40, 50, or 60 — Are You Ahead of the Curve or Falling Behind?

Demonstrators gathered inside and outside of New York City's 5th Avenue Apple store on Sunday to denounce big tech companies for backtracking on their previous support of the Paris Climate Agreement and to protest the <a href="https://www.benzinga.com/topic/trump-administration">Trump administration</a>, which protestors say is funneling billions of dollars to fossil fuel companies.
Inside the store, a group led by Extinction Rebellion NYC unfurled a banner and chanted "Dump Trump, Apple!" Police officers were called and quickly ejected the protesters. At least one person was arrested, <a href="https://www.amny.com/news/activist-arrested-midtown-apple-store-protest-07062025/">per</a> local media.
Outside the popular Apple Store, more activists were spray-painting the words "Boycott" and "Tim + Trump = Toxic," referencing Apple (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) CEO <a href="https://www.benzinga.com/topic/tim-cook">Tim Cook</a>.
<h2 class="wp-block-heading">What Say You, Mr. Cook?</h2>
In an <a href="https://x.com/tim_cook/status/1701732427897491578?lang=en">X post</a> in September 2023, Cook seemed to be down with the cause. "At Apple, we believe that climate change is one of the world's most urgent priorities and we are deeply committed to doing our part. Today we had a special guest—a real force of nature—stop by to check on our progress."
Then things changed when Trump was elected. 
"Every policy, every business decision, every vote must confront the reality that our planet's future is on the line. Big Tech promised leadership, but when the heat was on, they sat silent—front and center at Trump's inauguration, funding a regime that's gutting climate protections," said Devin Lilly, a spokesperson for Extinction Rebellion.
<h2 class="wp-block-heading">Texas Floods And Climate Change</h2>
The Sunday protest occurred as the death toll from flooding in Central Texas rose to at least 67 lives. Some state officials are blaming the tragedy on a faulty forecast by the new National Weather Service, which was gutted by Trump-Musk-DOGE cost cuts and the firing of the agency's most experienced personnel.
"The original forecast we received on Wednesday from the National Weather Service predicted 3-6" of rain in the Concho Valley and 4-8" of rain in the hill country,&#8221; <a href="https://www.meidasplus.com/p/texas-officials-blame-agency-gutted?fbclid=IwY2xjawLXvRxleHRuA2FlbQIxMQBicmlkETExa0d5dmRIWUxITDU5NW9EAR6q2SJRxRFymeXTdQNHEsS9yeRoQzFcN0cnnrHQbgBcp8R00sZCNIT68f4dlQ_aem_MR5AnNnyJjK2771oaw5UQQ">said</a> one official, adding that the amount of rain that fell in these locations was never in any of their forecasts.
<h2 class="wp-block-heading">Climate Change: Data Centers To Blame?</h2>
Data centers, which power artificial intelligence models and cloud computing, consume <a href="https://www.benzinga.com/partner/commodities/24/05/38814247/ai-data-center-power-requirements-increasing-demand-for-critical-materials-like-copper-and-ur">vast amounts of electricity</a>, much of it sourced from fossil fuels.
A study <a href="https://www.benzinga.com/25/02/43906562/google-microsoft-and-meta-linked-to-54-billion-in-health-costs-as-ai-data-centers-fuel-pollution-crisis-in-the-us-report">reported</a> by Benzinga found that pollution from Big Tech's data centers has cost the U.S. public health system an estimated $5.4 billion over the past five years. Alphabet Inc.'s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) Google, Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), and Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) are among the biggest contributors.
Microsoft, Alphabet, Amazon.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), and Meta <a href="https://in.benzinga.com/trading-ideas/long-ideas/25/02/43564458/big-techs-2025-ai-bill-is-320-billion-and-counting-can-investors-stomach-it">expect to spend over $320 billion</a> on AI this year, up from $151 billion in 2023 and $246 billion in 2024. 
Photo: Courtesy Extinction Rebellion NYC&nbsp;

AMZN

MSFT

Anti-Trump Climate Protesters Storm NYC Apple Store, Confront CEO Tim Cook Amid Texas Flood Crisis

Sam Altman, the CEO of OpenAI, has been credited with a significant sales boost for crib manufacturer Cradlewise, following his endorsement of the product.
What Happened: Altman, who became a father in February, shared his parenting supplies recommendations in an April 13 post, which included a shout-out to Cradlewise. &#8220;Definitely I recommend a Cradlewise crib,&#8221; he stated.
Following Altman&#8217;s endorsement, Cradlewise experienced a surge in organic site traffic by over 30% and a notable increase in daily sales, Cradlewise&#8217;s co-founder and CEO, Radhika Patil, <a href="https://www.businessinsider.com/sam-altmans-influence-boosted-crib-sales-ceo-says-2025-7">told </a>Insider.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">we bought a lot of silly baby things that we haven&#39;t needed but definitely i recommend a cradlewise crib and a lot more burp rags than you think you could possibly need
&mdash; Sam Altman (@sama) <a href="https://twitter.com/sama/status/1911496563157000568?ref_src=twsrc%5Etfw">April 13, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Google Trends data revealed that searches for Cradlewise peaked on the day of Altman&#8217;s post. The company has since featured Altman&#8217;s endorsement on its official website.
Also Read: <a href="https://www.benzinga.com/trading-ideas/technicals/25/06/46160081/sam-altman-warns-users-not-to-blindly-trust-chatgpt-despite-its-rising-fame-says-ai-hallucinates-it-should-be-the-tech-that-you-dont-trust-that-much">Sam Altman Warns Users Not To Blindly Trust ChatGPT Despite Its Rising Fame, Says &#8216;AI Hallucinates, It Should Be The Tech That You Don&#8217;t Trust That Much&#8217;</a>
The Cradlewise crib, retailing at $1,999, is known for its unique features such as a built-in baby monitor, sound machine, and the ability to convert&nbsp;from a bassinet into a&nbsp;crib.
&#8220;Sam Altman&#8217;s mention of Cradlewise&nbsp;was a surreal and humbling&nbsp;moment for our team,&#8221; Patil&nbsp;said.
Why It Matters: The power of celebrity endorsements is well-documented, and Altman&#8217;s influence in the tech industry is significant. 
His endorsement not only increased sales but also boosted the brand&#8217;s visibility, as evidenced by the spike in Google Trends. 
This incident highlights the potential impact of influential figures on consumer behavior and the success of a product in the market.
Read Next
<a href="https://www.benzinga.com/news/25/05/45366262/openais-sam-altman-reaches-out-to-elon-musk-amid-ongoing-social-media-spat-lets-be-friends">OpenAI&#8217;s Sam Altman Reaches Out to Elon Musk Amid Ongoing Social Media Spat: &#8216;Let&#8217;s Be Friends&#8217;</a>
Image: Shutterstock

Sam Altman's Endorsement Skyrockets Crib Sales, Cradlewise CEO Reveals

Billionaire entrepreneur&nbsp;Mark Cuban&nbsp;once shed light on the challenges of raising children amidst substantial wealth. He emphasized the significance of individual success and self-reliance.
What Happened:&nbsp;Cuban, who boasts&nbsp;an estimated net worth of&nbsp;$5.7 billion, voiced his concerns about the expectations his wealth imposes on his children. These comments were made during a discussion with TikToker Bobbi Althoff on &#8220;The Really Good Podcast.&#8221;
Cuban, a father to three children aged between 13 and 20, expressed that his wealth often leads to assumptions about his children. He aspires for his children to carve out their own paths and careers without being perpetually compared to him.
&#8220;Sometimes I think [the money&nbsp;is] the part they don&#8217;t&nbsp;like,&#8221; Cuban&nbsp;<a href="https://www.youtube.com/watch?v=keN-qiRfU3c">said </a>during the interaction. &#8220;Not that they want&nbsp;to be poor, but it&nbsp;sets an expectation &#8230; it&#8217;s&nbsp;how other people see them.&#8221;
Also Read: <a href="https://www.benzinga.com/personal-finance/financial-advisors/25/06/45939593/mark-cuban-challenges-concept-of-work-life-balance-for-high-achievers-not-working-would-be-a-sacrifice">Mark Cuban Challenges Concept of Work-Life Balance for High Achievers: Not Working &#8216;Would Be a Sacrifice&#8217;</a>
Known for his entrepreneurial endeavors and investments, Cuban has always championed his children to achieve&nbsp;their own successes, rather than&nbsp;leaning on his reputation or wealth. He motivates his children&nbsp;to use their own money, earned from chores or jobs, for buying non-essential items.
He also revealed that his 13-year-old son is treading his entrepreneurial path, selling candy bars to classmates and understanding business costs.
Why It Matters: Cuban&#8217;s comments highlight the unique challenges faced by the children of wealthy individuals. The expectations set by their parents&#8217; success can often lead to undue pressure and scrutiny. 
Cuban&#8217;s approach to parenting emphasizes the importance of self-reliance and individual success, values that he hopes will guide his children in their own journeys. 
His son&#8217;s entrepreneurial endeavors indicate that Cuban&#8217;s values are already having an impact, potentially shaping the next generation of business leaders.
Read Next
<a href="https://www.benzinga.com/news/25/03/44348044/mark-cuban-reveals-what-hed-do-as-a-gen-zer-to-get-ahead-even-while-sleeping-if-i-was-16-18-20-21-starting-today-i-would-spend-every-waking-minute-learning-it" target="_blank" rel="noreferrer noopener">Mark Cuban Reveals What He'd Do As A Gen Zer to Get Ahead—Even While Sleeping: ‘If I Was 16, 18, 20, 21 Starting Today, I Would Spend Every Waking Minute Learning It'</a>
Image: Shutterstock

Mark Cuban Says His Children Struggle With the Downsides of His Wealth: 'Not That They Want To Be Poor, But It Sets An Expectation'

Bolt CEO Ryan Breslow says it&#8217;s time to stop pretending unlimited vacation is working.
<h2 class="wp-block-heading">The Promise Isn&#8217;t Living Up To The Hype</h2>
In a recent LinkedIn <a href="https://www.linkedin.com/posts/ryanbreslow_we-just-killed-unlimited-pto-at-bolt-it-activity-7345775765600235521-XFVB/">post</a>, Breslow announced that his online checkout company is officially ditching its unlimited paid time off policy, joining the ranks of Netflix (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>) and Kickstarter. The move comes after realizing the policy wasn't helping the team; it was actually hurting it.
&#8220;It sounds progressive, but it&#8217;s totally broken,&#8221; Breslow wrote. &#8220;When time off is undefined, the good ones don&#8217;t take PTO. The bad ones take too much.&#8221;
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The result? &#8220;A-performer burnout. B-performer luxuries. And feelings of unfairness across the board,&#8221; he said.
Bolt is now offering four weeks of mandatory paid vacation, with additional time accruing based on tenure. According to Breslow, this shift brings clarity and fairness, which he believes are crucial if the company is asking employees to &#8220;move fast, build hard, and operate at the highest level.&#8221;
&#8220;Execution requires clarity. That applies to PTO, too,&#8221; he added.
<h2 class="wp-block-heading">Bolt Isn&#8217;t Alone</h2>
While unlimited vacation policies sound like a dream, experts say they often benefit employers more than employees. CBS MoneyWatch <a href="https://www.cbsnews.com/news/unlimited-vacation-bad-deal-companies-save-billions/">reported</a> in 2023 that such policies allow companies to erase unused vacation day liabilities from their balance sheets, saving them billions.
Trending: Maximize saving for your retirement and cut down on taxes: <a href="https://www.benzinga.com/money/wiseradvisor-retirement-planning">Schedule your free call with a financial advisor to start your financial journey – no cost, no obligation.&nbsp;</a>
Wharton School Professor Peter Cappelli told CBS MoneyWatch that shifting to unlimited time off means companies go from a &#8220;contractual obligation to a kind of moral obligation.&#8221; He estimated that U.S. businesses are saving about $224 billion by doing this.
&#8220;Conscientious employees aren&#8217;t likely to take advantage of their access to unlimited time off, but less-motivated employees&#8230; can be far more inclined to take off as much time as they can get away with,&#8221; workplace consultant Alison Green told CBS MoneyWatch.&nbsp;
Bolt recently made another controversial <a href="https://www.linkedin.com/posts/ryanbreslow_bolt-has-eliminated-its-hr-department-activity-7340377688517365761-0TcL/">change</a>—eliminating its human resources department entirely. Breslow said the company has replaced it with &#8220;people ops,&#8221; which he claims is more <a href="https://www.benzinga.com/news/24/09/41079963/decoding-zuckerbergs-efficiency-mantra-a-wifi-password-speaks-volumes">focused on efficiency</a> and gives managers more power.
&#8220;We believe there&#8217;s a better way to do it; and one without middlemen getting in the way of our teammates and their managers,&#8221; he wrote. &#8220;After several experiments, including Conscious Culture, I've concluded that HR is the wrong energy, format, and approach. People ops empowers managers, <a href="https://www.benzinga.com/markets/25/03/44077254/i-dont-know-may-be-the-key-to-smarter-investing-decisions">streamlines decision making</a>, and keeps the company moving at lightning speed.&#8221;
That shift is part of a broader theme at Bolt: cutting unnecessary complexity and putting clearer systems in place. In Breslow&#8217;s view, that includes ditching unlimited vacation.
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<li>Many are using retirement income calculators to check if they&#8217;re on pace —<a href="https://www.benzinga.com/money/how-do-i-calculate-my-retirement-income-adv"> here&#8217;s a breakdown on what&#8217;s behind this formula.</a></li>
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Image: Shutterstock

NFLX

Another Company Is Scrapping Unlimited Time Off For Their Employees—'The Good Ones Don't Take PTO. The Bad Ones Take Too Much'

When one millennial asked on <a href="https://www.reddit.com/r/Millennials/comments/1loh3ot/do_you_personally_know_any_millennial/">Reddit</a>, &#8216;Do you personally know any millennial millionaires?&#8217; they probably weren't expecting hundreds of real answers. But the replies came fast and honest—yes, they exist, and they're not as rare as people might think.
<h2 class="wp-block-heading">From Tech Jobs To Inheritance, There&#8217;s No Single Path</h2>
A large chunk of the thread was filled with stories of people who got into tech early. &#8220;The one from college went into computer science, ended up working at FAANG right out of school,&#8221; the original poster wrote. FAANG refers to Facebook, Apple (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), Amazon (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), Netflix (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>) and Google. After more than 12 years of saving and investing, their friend <a href="https://www.benzinga.com/real-estate/25/06/46092317/are-you-one-of-the-1000-people-per-day-who-recently-became-a-millionaire-dont-make-this-one-mistake-that-sends-most-back-to-square-one">hit millionaire status</a>.&nbsp;
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Another added, &#8220;Every single engineer I know became a millionaire by around 30.&#8221;
Some became millionaires the long, slow way. &#8220;I am, but low level with a worth of about $1.5M,&#8221; one person wrote. &#8220;No magic sauce to my methods, I've just <a href="https://www.benzinga.com/news/25/05/45578789/kevin-oleary-says-this-one-habit-alone-could-make-you-a-millionaire-and-you-dont-even-have-to-bother">consistently contributed</a> to my accounts over the years and busted my butt working on the house which is now worth 3x what I paid.&#8221;
<a href="https://www.benzinga.com/personal-finance/24/06/39402040/ramit-sethi-says-becoming-a-multimillionaire-is-simple-invest-10-of-your-salary-every-year-with-">Index funds and time</a> were a recurring theme. &#8220;Once I hit around $150K I noticed exponentially growing,&#8221; a commenter shared. Others said they were well on their way just by investing early and often, even on modest salaries. &#8220;I'm a mechanical engineer&#8230; I just make good money but not incredible and always lived on about the US median or less,&#8221; one person said. &#8220;We've had an insane bull run since I graduated in the mid-2010s.&#8221;
Location mattered too. &#8220;A lot of my friends on the west coast are [millionaires], just because of higher salaries and housing,&#8221; one said. Others mentioned they felt wealthy in their communities even if they'd be average in places like the San Francisco Bay Area.
Trending: GoSun's Breakthrough Rooftop EV Charger Already Has 2,000+ Units Reserved — <a href="https://www.benzinga.com/money/meet-the-company-seeking-to-give-americans-energy-independence-and-learn-how-you-can-become-an-early-investor">Become an Investor in This $41.3M Clean Energy Brand Today</a>
Of course, plenty got there through inheritance or generational wealth. &#8220;I do. Their parent died, and they inherited a lot of money plus life insurance money, and sold the parent's $1.6M home,&#8221; one commenter wrote. Another admitted, &#8220;Me and all of my brothers, but just because our parents established trust funds for each of us.&#8221;
Still, many were self-made through business ownership. &#8220;Buddy is a convict and couldn't get a job. He started his own concrete business. It's hard work but he easily makes $600K a year.&#8221; Others succeeded in less expected ways: OnlyFans, YouTube, or founding companies and selling them off.
Some reminded others that being a millionaire today isn't what it used to be. &#8220;Literally about a third of the wealth of a millionaire in 1984,&#8221; someone pointed out. &#8220;Meaning you really need to have $3 million to have the lifestyle of a millionaire we think of.&#8221;
But there was a shared thread across most responses: they lived below their means, stayed consistent, and had a long time horizon. As one person put it, &#8220;Simple but not easy is really it.&#8221;
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Image: Shutterstock

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