Hello, my most Tuesday-ish subscribers!

U.S. presidents have always had side hustles. George Washington grew tobacco¹ . Jimmy Carter ran a peanut farm. Abraham Lincoln drove an Uber, I think. And now, today, Donald Trump’s family are launching a mobile phone company. It’s a rich tradition… or, perhaps, a tradition of getting rich.

—Matt Davis, Need2Know Chedditor

News You Need2Know

• Trump family launches mobile phone company

• Tech startups: U.S. Navy wants to work with YOU

• Estée Lauder’s multibillionaire scion dies

• Talking autonomous vehicles with Oshkosh CEO

• U.S. Steel will be 49% Japanese now

Companies mentioned in today’s newsletter

$T ( ▲ 0.04% )  $SATS ( ▲ 2.01% )  $AAPL ( ▲ 0.48% )  $SSNLF ( ▲ 9.01% )  $TMUS ( ▼ 0.2% )  $DJT ( ▲ 0.32% )  $TMUS ( ▼ 0.2% )  $EL ( ▼ 0.09% )  $OSK ( ▼ 0.18% )  $NPSCY ( ▲ 1.89% )  

Trump family launches mobile phone company

Move over Cricket (which is owned by AT&T $T ( ▲ 0.04% ) ), Mint (which is owned by T-Mobile), Boost $SATS ( ▲ 2.01% ) , Apple $AAPL ( ▲ 0.48% ) , Samsung $SSNLF ( ▲ 9.01% ) and T-Mobile $TMUS ( ▼ 0.2% ) — it seems Donald Trump's family is ready to grab a piece of the mobile pie with a shiny, new phone venture called (wait for it) Trump Mobile. The firm’s flagship new hardware device, the golden $499 “T1” Phone, comes adorned with Trump’s slogan “Make America Great” on the front and an etched American flag on the back.

The plan is to sell phones that will be built in the U.S., and the phone service will maintain a call center in the U.S., too. Eric Trump said: “Hard-working Americans deserve a wireless service that’s affordable, reflects their values, and delivers reliable quality they can count on.”

The monthly service plan is, uh, cleverly called “The 47 Plan,” and costs $47.45 per month.

The Wall Street Journal reports that “Trump’s smartphone can’t be made in the U.S. for $499 by August” and that “it’s possible—even plausible—that these phones would initially come from China.”

Tech startups: U.S. Navy wants to work with YOU

The Navy’s chief technology officer, Justin Fanelli, says he has spent the last two and a half years cutting through the red tape and shrinking the protracted procurement cycles that once made working with the military a nightmare for startups.

In one recent case, the Navy went from a Request for Proposal to pilot deployment in under six months with Via, an eight-year-old, Somerville, Massachusetts–based cybersecurity startup. Six months! That’s quick! For the Navy.

“We’re more open for business and partnerships than we’ve ever been before,” Fanelli explained in a recent interview. “We’re humble and listening more than before, and we recognize that if an organization shows us how we can do business differently, we want that to be a partnership.”

Gone are the days of decade-long procurement cycles that would make a DMV line seem efficient. The Navy’s shiny new “innovation adoption kit” is replacing what Fanelli affectionately calls “your granddaddy’s government spaghetti chart” with a tidy “funnel.”

Fanelli even issued a rallying cry for innovators: “I would invite anyone who wants to serve the greater mission from a solution perspective to lean in and to join us in this journey.”

So, if your tech can save time, modernize systems, or even just help a sailor find better Wi-Fi on a submarine, the Navy might be your next big customer.

Today on the ‘gram: Chitty chitty bang bang 2.0

Post of the day: Trending for the wrong reasons

Quote of the Day

Estée Lauder’s multibillionaire scion dies

Leonard Lauder, the man who transformed Estée Lauder $EL ( ▼ 0.09% ) from a modest family cosmetics company into a global beauty empire, has passed away at 92. Known as much for his trailblazing business acumen as his philanthropic pursuits, Lauder’s life was a testament to innovation, generosity, and a relentless drive to shake up industries.

Under Leonard’s stewardship, Estée Lauder skyrocketed from selling a handful of products into a world-dominating multi-brand giant, with its products now sold in over 150 countries and territories. From launching iconic brands like Clinique and Aramis to acquiring cult favorites like MAC and Bobbi Brown, Lauder had an uncanny knack for knowing what beauty consumers wanted — sometimes before they knew themselves. His forward-thinking strategies, including spearheading the company’s international expansion, helped Estée Lauder rake in nearly $16 billion in sales during its most recent fiscal year.

Lauder wasn't just a business force; he was a cultural one too. His historic donation of 78 Cubist artworks to the Metropolitan Museum of Art in 2013 remains the largest single gift in the museum's history. His philanthropy championed education, Alzheimer’s research, and breast cancer awareness.

“Throughout his life, my father worked tirelessly to build and transform the beauty industry,” lauded his son William Lauder. “He was… the most charitable man I have ever known, believing that art and education belonged to everyone.”

Should you check your 401(k) today?

👍️ 

Yes. Markets shook off Friday’s gloom on Monday.

Talking autonomous vehicles with Oshkosh CEO

Picture the "airport of the future," with autonomous baggage carts. That’s how Oskosh Corporation $OSK ( ▼ 0.18% ) CEO John Pfeiffer is envisioning the company’s future, too, with plenty more autonomous vehicles all over the place. He imagines a future where construction sites are safer and more productive thanks to…you guessed it. Self-driving vehicles.

Oshkosh's focus on autonomous technology aligns with its overall vision for accelerating technological advancements, “primarily in the form of autonomous functionality, electrification, and intelligent connectivity with AI embedded into it,” John said.

U.S. Steel will be 49% Japanese now

President Donald Trump has signed an executive order clearing the way for Japanese company Nippon Steel $NPSCY ( ▲ 1.89% ) to invest in U.S. Steel under strict national security terms. The agreement, hailed as historic by both companies, involves approximately $11 billion in new investments by 2028 and gives the U.S. government a “golden share,” which Mr. Trump controls.

The partnership faced significant scrutiny, with national security concerns delaying the bid under Joe Biden’s presidency. Key provisions include maintaining U.S. Steel’s headquarters in Pittsburgh, appointing a board with a majority of American citizens, and prioritizing domestic steel production over imports.

Trump expressed confidence in the arrangement's ability to cement American control and steel industry growth while safeguarding against unfavorable trade practices.

“We’re going to be so successful. You have just, you have just started, you watch, we’re here today to celebrate a blockbuster agreement that will ensure this storied American company stays an American company, you’re going to stay an American company,” Trump said at a US Steel plant just outside of Pittsburgh on Friday.

Poll of the Day: The Trump phone?

Poll Results: You’re buying the dip

We asked if you’ve cut back on 401(k) contributions during recent market uncertainty. You answered:

⬜️⬜️⬜️⬜️⬜️⬜️ Yes, because I need the cash and fear the market. (61 votes)

 🟩🟩🟩🟩🟩🟩 Nope! Buy the dip, baby! (482)

543 Votes via @beehiiv polls

1  Or, more likely, somebody else grew it for him.