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🌏 Donald Trump x Elon Musk?

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🌏 Donald Trump x Elon Musk?

Good morning, Quartz readers!


HERE’S WHAT YOU NEED TO KNOW

Donald Trump is close to collabing with Elon Musk. The presidential candidate wants the tech billionaire to lead a “government efficiency commission.” 

Google is gearing up for another antitrust trial. The first one was about its search dominance, and this one is about its ad tech dominance.

JetBlue actually made out pretty good during the CrowdStrike outage. The carrier raised its revenue guidance because it sopped up its competitors’ stranded passengers.

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Kroger promised to cut prices. Of course, it would have to be allowed to merge with Albertsons first.

Verizon is buying $20 billion in internet fiber. It’s acquiring Frontier Communication to boost its reach.


CHICAGO FED PREZ SAYS ECONOMIC VIBES ARE WHATEVER

Austan Goolsbee says that America is getting tantalizingly close to a so-called “soft landing” where the Federal Reserve has successfully raised interest rates to bring inflation down without destroying the economy.

From his presidential perch at the Federal Reserve Bank of Chicago, Goolsbee says that things are getting to the point that he and his colleagues can focus less on doomer vibes and more on data points that seem to be painting a rosier picture of the country’s fiscal well-being.

Quartz’s Rocio Fabbro chatted with Goolsbee about his outlook on where things go from here and whether the Fed is behind the curve on getting there.

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THAT’S A MIGHTY BIG MATTRESS

Family offices are gaining ground on hedge funds as the favorite safe havens of the wealthiest people’s wealth, says Deloitte.

The consultancy expects the fortunes stowed with the investment vehicles to reach $9 trillion by 2030 — nearly triple the amount from just a few years ago — as the upper-est crust grows tired of sharing its returns with riff-raff who don’t share a bloodline.

Quartz’s Madeline Fitzgerald explains not just what a family office is, but what the concept’s growing popularity means for the future of global finance.


MORE FROM QUARTZ

🦾 OpenAI hit 1 million paid business users for ChatGPT — with possible price increases coming

💰 Mark Cuban says Kamala Harris will definitely not tax unrealized capital gains

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📱New Mexico sued Snapchat for allowing ‘sextortion’ and sexual abuse targeting children

🎄 Half of Americans will start their holiday shopping even before Halloween

💉An Eli Lilly experiment could let insulin-using diabetes patients avoid 313 injections

🏈 These are the 10 wealthiest sports franchise owners in America


SURPRISING DISCOVERIES

A newly found antibody could be a beat-all COVID-19 vaccine. Scientists think they may have found a treatment that can recognize slippery changes in the virus’s spike protein.

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Cats might be hiding how much they like playing fetch. A survey of cat people says 41% of them “sometimes, frequently or always” bring back thrown objects.

Colonial Americans rioted over pine trees. The British Crown’s efforts at conservation were fairly unpopular.

A dye used for Gatorade might turn your skin clear. Scientists tried using yellow-tinting tartrazine on mice first; humans might get their turn, too, one day.

Michael Jordan has been trying to sell his house for 12 years. The basketball star lowered his price from $29 million to $14.855 million in 2015 — 1+4+8+5+5=23, his playing number — and hasn’t budged since.


Did you know we have two premium weekend emails, too? One gives you analysis on the week’s news, and one provides the best reads from Quartz and elsewhere to get your week started right. Become a member or give membership as a gift!

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Our best wishes on a safe start to the day. Send any news, comments, economic vibes, or transparent skin pics to talk@qz.com. Today’s Daily Brief was brought to you by Melvin Backman and Morgan Haefner.

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San Francisco Film Patrons Are Found Dead on Side of Highway

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San Francisco Film Patrons Are Found Dead on Side of Highway

Three San Francisco couples set out Monday for their annual road trip to Ashland, Ore., for the town’s famous Shakespeare festival. They drove separately and planned to meet at 6:30 p.m. on the terrace of their favorite Japanese restaurant there.

They had booked a table for six, but only four showed up for dinner.

Judith and Wylie Sheldon were found dead in their running car on the side of the road to Oregon, shocking their friends and family and leaving a hole in San Francisco’s arts and film world.

Ms. Sheldon, 84, was the daughter of William Wyler — who won three Oscars for best director — and chaired the board of the San Francisco Silent Film Festival. Mr. Sheldon, 86, was a prominent lawyer.

David Smith, who had befriended the couple more than 40 years ago, said in an interview that he and the others at the dinner table had grown nervous as time ticked on and their friends did not answer repeated calls to their cellphones. They learned they had not checked into their hotel either.

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The friends eventually learned from one of the couple’s sons that the California Highway Patrol had found the couple at 5:46 p.m., both dead inside their running Jeep Compass. It was parked on the side of Interstate 5, north of Redding, Calif., more than 100 miles from their destination, the authorities said. Ms. Sheldon was driving, while Mr. Sheldon was in the passenger seat, according to the authorities.

The Redding area on Monday was under an extreme heat warning issued by the National Weather Service. Temperatures reached 109 degrees, according to the Weather Service.

Mr. Smith said he learned from the son that the couple had been found without any water or other liquids in the car. The fan was on high, but the air conditioning was not working, meaning they might have been blasted with hot air, Mr. Smith said. The windows were rolled down. The car had plenty of gas, and there were no signs of mechanical failure or foul play, Mr. Smith said the son told him.

“They didn’t crash. They stopped. They both just died there,” Mr. Smith said. “The entire thing is so bizarre. We’re still in a state of shock.”

The circumstances and cause of the couple’s death is under investigation but “appears to be medically related,” the Highway Patrol said in a statement.

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Whether the heat contributed to the couple’s death “may be determined” by an autopsy, a spokesman for the Shasta County Sheriff’s Office said, adding that one had not been scheduled yet and could take several weeks to complete.

“We’ll just have to see,” the spokesman, Tim Mapes, said.

The Sheldons met at Stanford University and had two sons. They lived in a large home in San Francisco’s upscale Pacific Heights neighborhood that had views of the bay from the front and a garden out back.

They hosted many parties there on behalf of the San Francisco Silent Film Festival and sometimes let revelers pose for photos with Mr. Wyler’s Oscar statuettes. Ms. Sheldon fell in love with silent movies after first seeing those created by her father — before his better known blockbusters like “Ben-Hur” and “Roman Holiday” — only about 30 years ago, said Anita Monga, artistic director of the festival.

Stacey Wisnia, the festival’s executive director, said the couple was generous, delightful and unassuming.

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Back in Ashland, Ore., Mr. Smith said the four remaining friends had distracted themselves from their grief by attending plays, including “A Midsummer Night’s Dream” and “Come From Away.” They were able to give away their friends’ tickets.

Ms. Monga had last seen Ms. Sheldon just last month at the film festival, which was held at the newly remade Castro Theater.

“This is such a shock,” Ms. Monga said of the deaths. “Also because it’s still a mystery.”

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Luigi Mangione’s lawyers withdraw plans for psychiatric defense

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Luigi Mangione’s lawyers withdraw plans for psychiatric defense

Luigi Mangione appears for a pretrial hearing at Manhattan Criminal Court in New York, June 17, 2026.

Angelina Katsanis/AP


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Angelina Katsanis/AP

New York — In a dramatic reversal, Luigi Mangione’s legal team on Thursday backed away from a plan to use a psychiatric defense when his case goes to trial in state court in September. Mangione has pleaded not guilty to murdering health insurance CEO Brian Thompson in 2024 on a Manhattan street.

At a hearing only a day earlier before state Judge Gregory Carro, Mangione’s attorneys confirmed that Mangione had been undergoing psychiatric evaluation. They signaled that his defense would be based at least in part on the argument that Mangione was experiencing “extreme emotional disturbance.”

But in a one-line letter sent to Carro on Thursday, Mangione’s team said that “at this time” they no longer intend to introduce psychiatric evidence during the trial. It’s unclear what sparked the shift. Mangione’s team didn’t respond to NPR’s request for comment.

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Former Manhattan prosecutor and legal analyst Gary Galperin told NPR it was a “stunning reversal” for Mangione to withdraw from the psychiatric defense. “One can only speculate at this point as to the reasons,” he said.

“What remains, of course, at this point is the question of what defense they will pursue at trial,” he added.

This maneuver came after Carro ordered Mangione’s attorneys to quickly share psychiatric information with prosecutors.

“They need to know what the malady is that this defendant suffers and how that triggered extreme emotional distress,” he said, during Wednesday’s hearing. “I’m not going to let you surprise people on the eve of trial. Get it done.”

Assistant Manhattan District Attorney Joel Seidemann repeatedly complained that Mangione’s team was “stonewalling” the prosecution by withholding medical information about his psychiatric state. “We have gotten nothing,” Seidemann said.

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Mangione’s lead attorney Karen Friedman Agnifilo denied her team was delaying the court process or improperly withholding information.

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Inside Trump’s Touring Exhibition of American Heroes

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Inside Trump’s Touring Exhibition of American Heroes

Video by Zack Wittman for The New York Times

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The museums, designed by conservative nonprofits and Trump appointees, tell the story of early America, from colonization to revolution. The one exhibition looking beyond the early years is the “Wall of American Heroes.” It is a list of 51 people, chosen to illustrate 250 years of American history.

A White House spokesman said they were “individuals who shaped this nation’s history, culture and spirit across generations.”

The people pictured on this national honor roll — and the people left out — help illustrate what this administration sees as the highlights of American history.

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Amid the administration’s efforts to reshape the nation’s relationship with its past, Trump appointees heavily weighted the list toward a single era of American history — and a few specific kinds of hero.

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MOUNT RUSHMORE, 1927

1936-1937

1933-1934

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1939

MOUNT RUSHMORE, 2025

Some of those featured are American icons who would be on just about anyone’s list of the country’s heroes. Many are already honored with monuments, holidays or their faces on coins.

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Photo cards show Harriet Tubman, Martin Luther King Jr., the Wright Brothers, Susan B. Anthony, Clara Barton and Sacagawea.

But nine of the 51 people fit one surprising mold: They were all in show business in the 1960s.

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Photo cards show John Wayne, Jimmy Stewart, Johnny Cash, Frank Sinatra, Aretha Franklin, Walt Disney, Irving Berlin, Elvis Presley and Louis Armstrong.

The list also focuses on just one of America’s wars. All four people shown in military uniform served in World War II.

Photo cards show George S. Patton, Louis Zamperini, Audie Murphy and Grace Hopper.

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All four religious leaders on the wall are Christian.

The wall also features some of the wealthiest people of their time.

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Cards show Steve Jobs, John D. Rockefeller, Andrew Carnegie and Henry Ford.

Tens of millions of people have immigrated to America in the past 250 years. But the “Wall of American Heroes” includes only four immigrants, all white men born in the 19th century.

Photo cards show Irving Berlin, Alexander Graham Bell, Andrew Carnegie and Albert Einstein.

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The center of the display includes a long quotation by President Trump.

A wall featuring 51 photographs of people, with the space in the middle dedicated to a quotation from President Trump.

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The other exhibitions in the Freedom Trucks were crafted by a pair of conservative nonprofits, PragerU and Hillsdale College. But the “Wall of American Heroes” was created by Freedom 250, a nonprofit effort whose leaders were chosen by President Trump and that was created to lead the planning of celebrations of the nation’s 250th birthday, overshadowing a bipartisan congressional commission.

A spokeswoman for Freedom 250 said Mr. Trump was not directly involved in the selection of those featured.

But the list clearly tracks Mr. Trump’s own lifetime and the heroes of the conservative political movement.

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In May, a Freedom Truck stopped at the Villages Public Library in Wildwood, Fla. Zack Wittman for The New York Times

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The wall’s tilt toward heroes of the baby boomer generation, for instance, extends beyond Hollywood stars and musicians. Of the four religious leaders on the list, two — Archbishop Fulton Sheen and the Rev. Billy Graham — also appeared on TV regularly in the 1950s and 1960s. The only painter on the list is Norman Rockwell, known for his idealized depictions of American life in that period.

By contrast, there is only a handful of figures from the first decades of American independence.

“That’s a disservice, if your intention is to present the last 250 years,” said Sarah Weicksel, the executive director of the American Historical Association. “Because all of the people on this list are building on the work and struggles and progress that was made by the people in the 150 years prior.”

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The “Wall of American Heroes” was inspired by a similar display in a traveling museum created by the State of Virginia. But Virginia’s display celebrates little-known historical figures.

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Virginia’s display of heroes highlights little-known figures. Jason Andrew for The New York Times

Mr. Trump’s, by and large, celebrates people who are already well-known — and, often, people who were famous in their own time. For example, it praises P.T. Barnum, a circus impresario who used hoaxes and freak shows to draw crowds. The wall calls him an “icon of American sensationalism.”

The spokeswoman for Freedom 250 said that many of the names on the wall were drawn from a list of 250 people that Mr. Trump wants to include in a “Garden of American Heroes” in Washington.

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The spokeswoman declined to say what criteria were used to narrow down the list.

The only president whose name appears on the wall — not on the list of heroes, but alongside his quotation — is Mr. Trump himself.

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Explore the Wall of Heroes

Navigate the display by dragging from side to side.

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Zack Wittman for The New York Times

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