Mystery Cheese

The Cheese Brothers in Wisconsin proudly include a mystery cheese in any order for just $7.95. I mention it because today is a bit of a mystery, news-wise, or it was at press time last night. Nobody knew yet what tariffs were in store for “Liberation Day”! But tariffs are like a box of chocolates—you might think you like them, but maybe only one at a time.

Today's Cheddlines You Need2Know

• Happy “Liberation Day,” whatever that turns out to …

• OpenAI breaks record on $40B financing

• Kid Rock in the Oval Office for ticket scalping or …

• Who will enter the Rock and Roll Hall of Fame?

• NASCAR star Bubba Wallace on Robinhood Deal

Liberté! Égalité! Tariffs, eh?

—Matt Davis, Need2Know Chedditor

P.S. We’ve got some private space flight on the ‘gram.

Quote of the Day

Should You Check Your 401(k) Today?

👎

(nope)

Companies mentioned in today’s newsletter

$SPX ( ▲ 0.36% )  $HOOD ( ▲ 1.4% )  

Happy “Liberation Day,” whatever that turns out to be!

By the time you read this, it’s possible President Donald Trump will have clarified his tariff plans for today, a.k.a. “Liberation Day.” Yesterday there was some uncertainty on the stock market, although the S&P was up slightly by the end of the day. $SPX ( ▲ 0.36% )  

Already, Trump has implemented a 25% tariff on imported cars and auto parts, claiming it will bolster domestic automobile production. He has also vowed to introduce "reciprocal" tariffs potentially matching the 20% duties levied by other nations on U.S. products. But what’s going to happen? Who knows?

Economists widely agree that any blanket tariffs could be “counterproductive,” triggering retaliatory measures from trading partners that would most likely target American-made goods, particularly agricultural products. European Union leaders, among others, have expressed readiness to retaliate if pushed. Still, let’s wait and see what happens, eh?

OpenAI breaks record on $40B financing

OpenAI has concluded a colossal $40 billion round of funding, catapulting its valuation to an unprecedented $300 billion, or roughly $40 billion less than Elon Musk’s net worth. The new injection of capital is earmarked to further propel OpenAI's research and development endeavors, focusing on a gamut of objectives from enhancing current AI technologies to exploring uncharted territories within the AI sphere. The investment will enable OpenAI to scale its operations, diversify its product offerings, crush its enemies, hear the lamentations of their women, and cement its position as a leader in shaping the future of AI. The funding could also pave the way for strategic alliances, potentially with those who share OpenAI’s ethos and commitment to the ethical development and application of AI.

🤖

From @cheddar

Kid Rock in the Oval Office for ticket scalping order

Remember when President Donald Trump suggested Volodymyr Zelensky of Ukraine was disrespectful for wearing combat fatigues, rather than a formal suit, to the Oval Office? Me neither! But clearly Kid Rock took the feedback personally, wearing what can only be described as a bedazzled red suit adorned with an American flag motif yesterday to watch the president sign an executive order aimed at curbing ticket scalping.

The executive action, according to Trump, intends to bring "commonsense" changes to how live event tickets are priced, highlighting a significant area of consumer frustration. The executive order aims to combat "price-gouging by middlemen," directing agencies such as the Internal Revenue Service and the Federal Trade Commission to enforce stricter compliance and ensure price transparency throughout the ticket purchasing process.

What makes this executive action particularly notable is its rare crossover with policies from the Biden administration. The executive order has set the wheels in motion for more stringent control and oversight in the live concert and entertainment ticketing industry. A report, due in six months from federal officials and the FTC, will outline actions taken and further steps necessary to protect consumers and ensure a fair market. I’m hereby holding my breath.

Who will enter the Rock and Roll Hall of Fame?

Here’s the shortlist, which I’ve arranged in order of likelihood based on my extensive musical knowledge and of course, talent.

1. Joe Cocker

2. Cyndi Lauper

3. Outkast

4. Mariah Carey

5. Billy Idol

6. Bad Company

7. Soundgarden

8. Chubby Checker

9. Joy Division/New Order

10. The White Stripes

11. Oasis

12. Phish

13. The Black Crowes

14. Mana

The actual class of inductees will be announced in late April with a ceremony in L.A. in the fall. Last year they inducted eight acts, so you can draw a line under Chubby Checker, assuming I’m right about all this, which, you know, #NotHallOfFameAdvice

NASCAR star Bubba Wallace on Robinhood Deal

NASCAR superstar Bubba Wallace recently joined Cheddar and Steve Quirk of Robinhood $HOOD ( ▲ 1.4% ) on the floor of the New York Stock Exchange to discuss an exciting new partnership: Bubba is Robinhood’s first national sponsorship in the sports world.

Quirk highlighted the synergy between Robinhood and NASCAR's fan bases. He pointed out that their customers are "four times more likely to be NASCAR fans," emphasizing the shared demographics of "very young, both very passionate about both the sport and investing."

Wallace expressed his excitement about bringing "a new fresh face of a sponsor and a partner" to his team. "It's an exciting time," he said. "It shows that the sport's growing, our team's growing, and they [Robinhood] want to be part of something that's bigger and better." He also teased the visual impact of the partnership, mentioning the "bright neon" colors that will "set us apart from the rest of the field. My spotter is going to be very pleased that he'll be able to spot the car out."

When asked about his relationship with Michael Jordan, co-owner of his NASCAR team, Wallace said, "He's all about winning, as we all know." He said their conversations often revolve around "life" rather than just racing. "He's a heck of a character once you really get to know him,” said Wallace.

Wallace also touched on the #FinancialAdvice he's received throughout his career. "There's nothing more important than investing that and making sure you have a future beyond of what you have right here in the present," he said. He sees the Robinhood partnership as "the perfect partnership for me to learn more about it and to help my money grow even better and faster." #NotFinancialAdvice