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- 🌊 No Breakup for Google!
🌊 No Breakup for Google!
Plus: No breakup for Google, Epstein victim press conference, & Luigi used as fashion model in China
US History in 2040 will be wild…
Just minutes ago, the President of the United States posted a video of himself dancing with the Cracker Barrel mascot to the tune of “YMCA.” Is this what the Situation Room is used for now? Editing these AI videos?
Some of you may laugh; others may cry. But all of you have to admit that US History class in 2040 will be amazing.
đź’‰ US sinks drug vessel
đź’° No breakup for Google
📸 Luigi Mangione... the fashion model?
–Max and Max
KEY STORY
Google Can Stay Together
A federal judge ruled against breaking up Google, allowing the company to keep its Chrome browser and Android operating system
The Justice Department filed an antitrust case in 2020, alleging Google maintained search dominance through payments to device makers for default placement. In August 2024, Judge Amit Mehta ruled that Google had illegally monopolized online search markets
On Tuesday, Mehta ruled that while Google doesn't have to sell Chrome or Android, it must share search results and data with rival companies
The judge wrote that “the emergence of GenAI changed the course of this case” when explaining his less stringent ruling. Google faces a separate antitrust case over its advertising technology business, with remedies to be determined later this year
Dig Deeper
Google pays Apple approximately $20B annually to serve as the default search engine on Apple devices; the ruling allows Google to continue these payments but bars exclusive contracts that would prevent competitors from also being featured on Apple devices
The court required Google to share portions of its search data with competitors and stop forcing device manufacturers to install multiple Google applications as a condition for accessing the Google Play Store
Alphabet's stock soared following the ruling, reaching its highest intraday level in almost five months
KEY STORY
Trump May Declare Housing Emergency
Treasury Secretary Scott Bessent said that President Trump may declare a national housing emergency this fall
The US housing market has experienced an affordability crisis since the pandemic, with home prices surging more than 40% between 2019 and 2022 as mortgage rates hit historic lows of 2-3%, creating unprecedented demand
After the Federal Reserve raised rates to combat inflation, mortgage rates climbed to around 6-7%, but home prices remained elevated
The declaration would mark the first housing-related national emergency since the 2008 financial crisis and would be Trump's tenth emergency declaration since taking office this January
Dig Deeper
Administration officials are exploring multiple approaches, including standardizing local building and zoning codes and reducing closing costs for homebuyers
Bessent also suggested Trump might consider tariff exemptions for certain construction materials
A national emergency declaration would allow Trump to bypass Congress and access 137 emergency powers defined by law without legislative approval, though it would require annual reaffirmation and could face legal challenges
QUOTE OF THE DAY
I can accept failure, everyone fails at something. But I can't accept not trying.
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KEY STORY
Appeals Court Blocks Deportations
A federal appeals court blocked President Trump from deporting Venezuelan migrants, who the administration claimed were gang members
Earlier this year, Trump invoked the 1798 Alien Enemies Act to streamline deportations of Venezuelans alleged to be members of the Tren de Aragua gang, which Trump had designated as a foreign terrorist organization
Late Tuesday, the US 5th Circuit Court of Appeals ruled 2-1 that Trump improperly invoked the law to target alleged gang members. The decision found the administration's claims about gang members entering the country did not constitute the type of invasion or military conflict that Congress intended when it created the law
The ruling blocked the government from using the act in Texas, Mississippi, and Louisiana, which fall under the 5th Circuit's jurisdiction
Dig Deeper
Two judges on the panel, appointed under Presidents George W. Bush and Joe Biden, concluded that illegal immigration encouraged by a foreign government does not equal military invasion
The administration had already used the law to deport more than 200 men to a prison in El Salvador, where they were held for months before being released in a prisoner exchange with Venezuela
The Justice Department will likely appeal the decision either to the full 5th Circuit or directly to the Supreme Court, which has not yet addressed the legality of Trump's invocation of the Alien Enemies Act
KEY STORY
Epstein Press Conference
Jeffrey Epstein's alleged victims visited Capitol Hill to demand the release of government documents related to Epstein
Representatives Thomas Massie (R-KY) and Ro Khanna (D-CA) have been pushing the Epstein Files Transparency Act, which would require the Justice Department to release its documents related to the convicted sex offender
Massie and Khanna – who are trying to force a vote on legislation to release files – organized a press conference Wednesday, where Epstein’s alleged victims spoke and announced they are compiling their own list of names involved “in the Epstein world”
President Trump dismissed the push for document release as a politically motivated distraction, calling it “a Democrat hoax that never ends”
Dig Deeper
The lawmakers are using a discharge petition, which needs 218 signatures to force a floor vote. As of Wednesday afternoon, the petition had secured 206 signatures, only four from Republicans
Several women who said they were abused by Epstein spoke publicly about their experiences and urged both Congress and the administration to release all records. “It is time for us to see behind the curtain, why Jeffrey Epstein was so protected, who is still being protected, and who protected them all,” said Courtney Wild, who claimed she was introduced to Epstein when she was 14 years old
RUNDOWN
Some Quick Stories for the Office
🏛️ The Missouri Legislature began a special session Wednesday to redraw congressional districts that would favor Republicans, part of a broader push across multiple states
đź’‰ Florida's surgeon general announced plans on Wednesday to eliminate all state vaccine mandates, including school requirements for children, which would make it the first state to abandon the practice
⚖️ One hundred survivors and families of victims from the 2023 Lewiston, Maine, mass shooting filed a federal lawsuit claiming the US Army ignored warning signs that shooter Robert Card could become violent
📜 Over 1,000 current and former Department of Health and Human Services (HHS) employees released a letter demanding Secretary RFK Jr.'s resignation, claiming he “continues to endanger the nation's health”
đź’˛ The Los Angeles Clippers and owner Steve Ballmer denied allegations of circumventing NBA salary cap rules by paying star player Kawhi Leonard $28M through a fake job arrangement
What does Roca Nation think?
💰 Yesterday’s Question: Do you believe that wealthy people are happier?
Perhaps a better question would be 'what is happiness?' Is it a joy-filled state. or is it contentment, or maybe an inner peace. At any rate, I have known and been with both poles of the economic spectrum, and my observation has been that wealthy people are less 'happy' than those with little. Poorer people I have known tended to be less self-centered, more empathetic, and genuinely hospitable. Wealthy people have been shown to be sympathetic but not necessarily happy in life. They have seemed to be lacking peace and contentment. Happy people tend to be more humble, more apt to spontaneous giving, and show more unconditional love than the rich people I have met, though I have met some who are happy and content.
I believe that wealthy people are less stressed. Financial stress is a serious burden that may affect your physical and emotional well-being so .... automatic happiness for the wealthy, no but less stressed and healthier, yes and therefore possibly happier (although if those wealthy were never "burdened" I doubt they would register it or be aware of it). So I think people with financial burdens are less happy but those with money are not necessarily more happy.
I think on average, yes, wealthy people are happier. There are variations, and everyone is an individual so of course there are exceptions. There is data to suggest that in general, increasing yearly income correlates with increasing happiness. This is particularly due to lower stress related to financial instability leading to problems with housing, food, education, etc. However, there is sometimes a plateau after certain income levels are reached, and I think giving yourself to the exclusive pursuit of money over all else breeds discontentment as well. The studies on this talk about how for most people, increasing income correlates with increasing happiness, while people who are predisposed to unhappiness plateau after $100k per year. Source: https://penntoday.upenn.edu/news/does-more-money-correlate-greater-happiness-Penn-Princeton-research
🤝 Today’s Question: What’s the greatest deal of all time?
POPCORN
Some Quick Stories for Happy Hour
🕵️ Fashion Assassin: Fast-fashion retailer Shein launched an investigation after discovering an image of accused CEO killer Luigi Mangione was being used to model a $10 shirt on their platform
🍻 Six-Pack Penalty: An 82-year-old Alaska bush pilot is asking the Supreme Court to review whether seizing his $95,000 plane over transporting a six-pack of beer constitutes an excessive fine under the Eighth Amendment
đź’ł Mouse Trap: A Chuck E. Cheese mascot was arrested in full costume at a Tallahassee location after being accused of credit card fraud, with viral bodycam footage showing confused children watching their beloved mouse get handcuffed
📱 Bigger Picture: Meta finally launched a dedicated Instagram app for iPad after 15 years of user requests
đź“´ Stream Dreams Turn to Nightmares: The world's largest illegal sports streaming platform, Streameast, has been shut down following a year-long investigation by anti-piracy organizations and Egyptian authorities
ROCA WRAP
The Greatest Philosopher in the Known World
Timothy Dexter was either the luckiest fool in American history – or a secret genius who understood markets better than anyone gave him credit for.
Born dirt poor in Massachusetts in 1747, Timothy dropped out of school at age eight to work as a farm laborer. At 22, he married Elizabeth Frothingham, a wealthy widow, and used her money to start a business selling whale blubber and moosehide trousers.
When the American Revolutionary War ended, Timothy bought massive amounts of newly worthless Continental currency. When the government honored the notes, he made a fortune and launched an export business.
This is where his story gets bizarre.
Business rivals gave him terrible advice, hoping to bankrupt him. They told him he should send bed warmers to the tropical West Indies, sneering behind his back. Timothy did – and his captain then sold them as ladles to the molasses industry for huge profits.
“Ship wool mittens to the Caribbean!” they advised again. Asian merchants bought those for export to Siberia.
They jokingly told him to “ship coal to Newcastle,” an idiom describing a pointless action because the English town of Newcastle was built on its coal industry. Timothy did, during a miners' strike, and sold his cargo at a premium.
He exported Bibles to the East Indies (missionaries needed them) and stray cats to Caribbean islands (rat problem solved). Every ridiculous venture somehow turned profitable.
But success didn't buy social acceptance, so Timothy out-eccentricked everyone. He bought a mansion, decorated it with 40 wooden statues, including himself, and demanded people call him “Lord Timothy Dexter.”
His family life was chaotic. He told visitors his wife had died, and the woman they saw was her ghost. He faked his own death to see people's reactions – then hit his wife with a cane for not crying enough at his mock funeral.
At 50, he wrote A Pickle for the Knowing Ones – 8,847 words without any punctuation. When readers complained, he added a page of random punctuation marks with instructions to “peper and solt it as they plese.”
Timothy died in 1806, with a net worth of about $800,000 in today's money. Whether genius or fool, Lord Timothy Dexter proved that in America, the most unlikely people could build a fortune.
EDITOR’S NOTE
Final Thoughts
You may notice a change to the Roca Wrap section. That’s because many of you requested a reversion to the older-style Wrap — one on a random and quirky topic each day. We hope you welcome this change, and thank you again for your feedback.
Have a great day! One more to go!
–Max and Max