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OpenAI has thoughts on what the government should do...

Howdy. While you read through today’s newsletter and nod your head ever so slightly while smiling at our clever wordplay and thoughtful analysis, know that we are already hard at work on a Sunday Special on investing. It’s just missing one thing: your thoughts. We want to know your investing philosophy, but the twist? You only have one sentence to explain it. Submit your one-sentence investing philosophy here, and we’ll shout out our favorites in Sunday’s Brew.

—Sam Klebanov, Dave Lozo, Molly Liebergall, Neal Freyman, Abby Rubenstein

In today’s newsletter, we’ll look at:

  • OpenAI’s vision of a future with superintelligence
  • President Trump’s threats to Iran
  • The Artemis II crew boldly going where no human has gone before

MARKETS

Nasdaq

21,996.34

S&P

6,611.83

Dow

46,669.88

10-Year

4.335%

Bitcoin

$69,735.20

AMC

$1.26

Data is provided by

*Stock data as of market close, cryptocurrency data as of 5:00pm ET. Here's what these numbers mean.

  • Markets: Stocks rose yesterday as investors kept their fingers crossed for an Iran ceasefire in advance of the deadline President Trump set for tonight for Iran to reopen the strait most of the world’s oil must pass through.
  • Stock spotlight: AMC stock got a taste of the magic people come for yesterday after The Super Mario Galaxy Movie helped the holiday weekend box office and concession sales soar.
 

UNCLE SAM ALTMAN

Sam Altman

Morning Brew Design, Photo: Anna Moneymaker/Getty Images

OpenAI is handing the government a cheatsheet on how to solve the problems its product might cause. Yesterday, the company released a policy blueprint to address the disruptions it expects impending AI superintelligence to bring—with tips ranging from embracing a four-day workweek to strategies on combating killer robots.

OpenAI’s policy menu comes as the public grows increasingly concerned about AI’s potential to cause economic chaos, with some asking the government to step in. The company is also facing questions about CEO Sam Altman’s character, given the potential disruption its product could cause.

New Deal 2.0

Sounding more like a union head, the $852 billion company says AI-driven gains should be shared with workers, with a big role for the government to play.

Here’s what OpenAI envisions:

  • The government could incentivize companies benefiting from AI to institute a four-day workweek and give employees expanded healthcare and childcare coverage, as well as larger retirement benefits. Government incentives could also help workers displaced by AI switch to industries that rely on human connection like healthcare and education.
  • Workers could be taxed less, and programs like Social Security and SNAP would be funded by increased taxes on companies benefiting from the AI boom.
  • A public wealth fund could redistribute returns from AI-related investments to citizens, akin to cash payments from Alaska’s oil wealth fund.
  • The government could facilitate the expansion of electrical infrastructure powering AI data centers in order to lower household electrical bills.

AI companies have warned…that their newest models could enable large-scale cyberattacks and engineered biological weapons in the near future. So, OpenAI also shared ways to mitigate AI threats, like giving the government a bigger role in managing risks and expanding international AI-safety cooperation.

Big picture: The Trump administration prefers a light-touch approach to regulating AI, but some in Congress advocate for more proactive measures. Bills to tax AI and mitigate job market impacts are reportedly in the works in the Senate, while Democratic Sen. Bernie Sanders and Rep. Alexandria Ocasio-Cortez recently introduced a bill that would put a moratorium on AI data center construction.—SK

Presented By Fisher Investments

WORLD

Trump

Tom Williams/Getty Images

Trump threatens that Iran “can be taken out in one night.” With the deadline that he imposed of 8pm ET today for Iran to reopen the Strait of Hormuz looming, President Trump said yesterday that “every bridge” and “every power plant” in the country could be attacked in a matter of hours and incapacitated by midnight tonight. The UN warned that attacking Iran’s civilian infrastructure could violate international law, although the president said he was not worried the attacks would be considered war crimes. Trump’s remarks came after Iran reportedly passed on the US’ offer of a 45-day ceasefire to reopen the strait, pushing instead for a permanent end to the war.

Jamie Dimon sees risks ahead. In his annual letter to shareholders, published yesterday, the JPMorgan CEO laid out the potential trouble he sees for the bank and the economy, including geopolitical conflict like the war in Iran, inflation, trouble in private markets, and bank regulations he called “poor.” He warned that inflation slowly creeping up rather than going down could be “the skunk at the party” this year—pushing interest rates up and asset prices down.

Michigan won its first men’s national basketball title since 1989. With a 69-63 victory over UConn in last night’s men’s NCAA championship, the Wolverines snapped a 25-year title drought for the Big Ten. The win also dealt UConn its first loss in a national championship game, with the Huskies falling just short of their third national title in four seasons. With March Madness now over, you’ll have to find something new to banter with your coworkers about.—AR

OY VEY

Sponsors pull out of Wireless Festival after Kanye added as headliner

Retamal/Getty Images

Call these brands a 2010 Kanye West single, because they’ve run away: Paypal, Rockstar Energy Drink, and Budweiser-maker AB-InBev each reportedly said yesterday that they are pulling back from a major UK music festival that recently named Ye as its headliner, becoming the latest brands to abandon ship.

ICYMI: The backlash was swift after London’s Wireless Festival announced last week that Ye, who has a long history of expressing antisemitic views and released a song called “Heil Hitler” less than a year ago, would headline its July event:

  • Pepsi withdrew its sponsorship on Sunday after 10 years as the festival’s main brand partner (the official name is “Pepsi MAX Presents Wireless”).
  • Liquor giant Diageo bailed shortly thereafter.
  • Hours earlier, UK Prime Minister Keir Starmer condemned Ye’s booking as “deeply concerning.”

Now, AB-InBev and Rockstar are also out, per the Wall Street Journal and Variety, respectively. PayPal, which hosted a ticket pre-sale last week as a Wireless payment partner, said it won’t let the festival use its branding in promotional materials going forward.

UK ministers are also reviewing Ye’s permission to enter the country.

Meanwhile…Ye just made $33 million selling out two shows at SoFi Stadium in Los Angeles, per Bloomberg, and his new album debuted at No. 2 on the Billboard 200. In January, he placed a full-page ad in the Wall Street Journal apologizing for his past remarks, which he attributed to bipolar disorder.—ML

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EYES UP HERE

An illustration of a phone being put under a fancy dish

Niv Bavarsky

The next time you’re out to dinner, someone might not only ask to take your jacket, they may want you to hand over your phone, too. The number of bars and restaurants establishing a phone-free environment is growing, per Axios—a change that appeals to younger patrons.

Axios found that at least 11 states have individual restaurants or bars with a form of phone restriction or digital detox. Scrolling a menu instead of your phone is thought to create a more intimate setting, lead to more focus on food, and protect patron privacy.

A recent survey from Talker Research shows a significant number of people are putting their phones away and probably don’t want to see someone taking pictures of their food:

  • 63% of Gen Z says they intentionally disconnect; 57% of millennials say the same.
  • Even older crowds are on board—42% of Gen X and 29% of boomers said they unplug.

A needed break: Data from Consumer Affairs showed Americans spend an average of 4.5 hours per day on their devices. Another revealed that 86.5% of phone use involves social networking and texting during meals.

It’s chains, too: The upscale supper club Delilah’s has a no-phones policy. Even some Chick-Fil-A locations are offering free ice cream as an incentive for turning over your phone while eating.—DL

READER POLL

Should phones be allowed in restaurants?

Yes
No
Sometimes, but step outside to take your call

STAT

Moon seen from Artemis II

NASA

Here’s something to one up your friend whose pics are always geotagged in exotic locales: Yesterday, the crew of the Artemis II set the record for the farthest humans have ever traveled from Earth (watch the live video here).

  • At 1:57pm ET, the four astronauts flew 252,752 miles from Earth, surpassing the previous record set by the Apollo 13 crew in 1970 by ~4,102 miles.
  • “We most importantly choose this moment to challenge this generation and the next to make sure this record is not long-lived,” Canadian astronaut Jeremy Hansen said from the ship.

The crew then proceeded to complete a flyby of the moon—including a planned 40 minutes without communication with Earth as they passed the moon’s far side—reaching their maximum distance from Earth of 252,756 miles just after 7pm ET. The crew, who are slated to splash down back on Earth on Friday, did take photos as they traveled, but mostly for science and not for the ’gram.—AR

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