Key Takeaways
- President Trump has expressed repeated dissatisfaction with Attorney General Pam Bondi.
- Democrats see potential gains in upcoming midterm elections for both the Senate and House.
- Alphabet achieved a $4 trillion market cap, driven by investor optimism in its AI business, as Meta also boosts its AI initiatives.
- A group of Silicon Valley billionaires is actively organizing against California's proposed 5% wealth tax.
Deep Dive
- President Trump has repeatedly complained to aides about Attorney General Pam Bondi, describing her as weak and an ineffective enforcer of his agenda.
- Some administration officials suggest these complaints are part of Trump's broader pressure on the Justice Department.
- Bondi's team stated she is focused on national security, while Trump separately told The Wall Street Journal he believes she is doing an excellent job.
- Google parent company Alphabet surpassed a $4 trillion market valuation.
- This milestone is driven by investor optimism regarding its AI business, including the Gemini model.
- The Gemini AI model is set to power a new version of Apple's Siri.
- Separately, Meta announced a new initiative to secure computing power for AI and appointed former Trump advisor Dina Powell McCormick as its new president and vice chair.
- Dozens of billionaires, including prominent Silicon Valley figures, are participating in a Signal chat called 'Save California' to criticize a proposed 5% wealth tax.
- Participants, including Palmer Luckey and David Sachs, are exchanging tips and exploring ways to reduce their ties to California.
- Google co-founder Larry Page is also part of the private chat, with some members establishing residency elsewhere.
- The proposal aims for the November ballot and would retroactively apply to billionaires residing in California as of January 1, 2026.