🌎 Rivian's fall from grace

Plus: Yaccarino’s first memo, explained.

A Rivian electric pickup truck sits in a parking lot at a Rivian service center on May 09, 2022 in South San Francisco, California. Shares of Rivian stock fell 13 percent after Ford, which currently owns as 11.4 percent stake in the electric car maker, is planning to sell 8 million of its 102 million shares.
Photo: Justin Sullivan (Getty Images)

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Here’s what you need to know

Nasdaq is dropping Rivian from its index. The struggling electric carmaker will be replaced by chip manufacturer ON Semiconductor.

The Biden administration scored a $66 million profit in its first oil trade. The US sold 3 million barrels of oil for $95 and repurchased them at $73.


US inflation hit its lowest level since March 2021. The latest data comes as the price of food staples like eggs is finally falling—but in Europe, it’s a very different story.

A woman won a lawsuit that claimed Starbucks fired her because she’s white. The coffee chain must now pay her $25.6 million in damages. 

Illinois has banned book bans. Adopting the Library Bill of Rights, which prevents materials from being removed “because of partisan or doctrinal disapproval,is a condition for public libraries to access state funds.


What Twitter CEO’s first email to staff really says

Linda Yaccarino’s inaugural staff memo represents the dual mission of her job: to appease both advertisers and Elon Musk.

Her letter starts like this:

People keep asking me: Why Twitter? So, I’ll tell you.”

Our reading goes more like this:

“Typically when someone becomes the CEO of a multibillion-dollar media company, people don’t ask why they took the job. The real question people are likely asking Yaccarino is, “Why would you work with Musk?”

We’ve annotated Yaccarino’s full memo to put her words into context. Read our interpretations.


Pop quiz: The fall of the Instant Pot

As demand for the Instant Pot rapidly depressurized, its maker tried to develop which household appliance?

A. A mini oven


B. An air purifier

C. A wine opener

D. A portable sink

Find the answer in our report on why the now bankrupt maker of the pandemic darling stopped cooking up interest.


One big number: 1.5 million

The number of electric vehicles Toyota plans to sell each year by 2026

The Japanese automaker has an ambitious new plan to update its EV technology to make cars run longer, all while automating factory assembly tasks to curb its production costs. But will it be enough to help Toyota reach its climate goals?


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Surprising discoveries

Samsung ended IBM’s patent supremacy. The US tech giant has received more patents in the past 30 years than any other company, until last year.


A crawlspace in a Los Angeles home was housing 1 million pennies. The problem is that no banks want them.

Homegrown solar and wind components in the US are now cheaper than imports. It’s the first time this has happened in the country’s history.


An incredibly rare Roman tomb was found in London. The mausoleum is likely the most intact of its kind that has been unearthed in Britain.

A 14-year-old is about to graduate from college in California. He already has a job at SpaceX.


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