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Will Meta’s Plan to End Fact Checking Work Politically?

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Will Meta’s Plan to End Fact Checking Work Politically?

Meta’s bombshell announcement on Tuesday that it would end its fact-checking program was widely read as a major shift in policy meant to please President-elect Donald Trump and other conservatives.

In reality, the move was probably less radical than it initially seemed. But the turn still serves as a reminder that many corporate leaders see their highest priority as reading the room — one that Trump now dominates.

Mark Zuckerberg has been moving in this direction for some time. In relation to the 2016 election, the Meta chief, who has a history of tacking where political winds blow, followed other tech companies in partnering with fact-checking groups to police content on its platforms, including Facebook and Instagram. Since then, however, the tech mogul has fumed as Meta was criticized for both failing to do enough — and for removing too many user posts.

“It’s time to get back to our roots around free expression,” Zuckerberg said in a video announcing the changes, including a move to X-style user-policing known as Community Notes. (Katie Harbath, a former communications executive at Meta, told The Times, “This is an evolved return to his political origins.”)

The changes aren’t necessarily as big as they first appeared. Politico noted that Meta had been paring back its moderation efforts in recent years. And while Zuckerberg promoted plans to move such workers to Texas to “eliminate bias,” many such workers are already based there.

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Zuckerberg isn’t alone: Tech companies haven’t ever wanted to be in the business of moderating user content. Last summer, YouTube began testing a version of Community Notes, though it was described as more of a supplemental feature.

Is the political payoff for Meta worth the criticism? Trump, who had railed against the company’s moves to police his content — including briefly shutting down his Facebook account after the Jan. 6, 2021, riot at the Capitol — said the tech giant had “come a long way.” (He also said his threats against Zuckerberg “probably” contributed to the new policy.)

Meta executives may hope that, along with the elevation of the longtime Republican executive Joel Kaplan to lead global affairs, a $1 million donation to the Trump inaugural fund and the addition of the Trump ally Dana White to its board, may get them into the president-elect’s good graces.

A factor worth watching: Zuckerberg said he would work with Trump to “push back against foreign governments going after American companies to censor more.” That was a thinly veiled shot against the European Union, which has sought to punish companies, including Meta, for insufficiently policing their platforms — and may increase its scrutiny of the tech giant after Tuesday’s move.

Will the move work? So far, advertisers aren’t publicly objecting. And Tuesday’s news most likely allays concerns that Trump regulatory picks, including Brendan Carr of the Federal Communications Commission, had about Meta.

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But Senator Marsha Blackburn, Republican of Tennessee, wrote on X that Meta’s change was simply “a ploy to avoid being regulated.” She added, “We will not be fooled.”

Wildfires near Los Angeles force widespread evacuations. Parts of Santa Monica and the Pacific Palisades were hit by a blaze that destroyed homes and forced at least 30,000 to flee for safety. Another fire, near Pasadena, was also causing issues as officials warned of devastating losses.

Anthropic is close to raising billions more in capital. The artificial intelligence start-up is in advanced talks to collect $2 billion in a round led by Lightspeed Venture Partners, The Times reports. If completed, the fund-raising would value Anthropic at $60 billion — roughly three times as much as it was worth a year ago — in another sign that the deal making frenzy around A.I. shows no signs of slowing.

JPMorgan Chase reportedly plans to call employees back to the office five days a week. That’s up from the requirement of three days a week, according to Bloomberg, though about 60 percent of Wall Street giant’s staff is already at the office full time. Other major companies have already reduced or eliminated work-from-home policies instituted during the coronavirus pandemic; JPMorgan’s C.E.O., Jamie Dimon, has long criticized hybrid working arrangements.

Coming into 2025, the big questions hanging over President-elect Donald Trump’s second term included tax cuts, the Fed’s independence and potential new trade war.

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But few could have foreseen the president-elect refusing to rule out military force or economic coercion against allies as he did on Tuesday at a wide-ranging news conference at Mar-a-Lago. It underscores that for markets, a Trump presidency brings plenty of potential black swan events.

A recap: Trump revealed an expansive vision of “America First,” doubling down on calls for the United States to gain control of Greenland and the Panama Canal. And he spoke of renaming the Gulf of Mexico to the “Gulf of America,” though it was unclear how serious he was about that.

The Trump effect can be seen in the markets on Wednesday. The S&P 500 looks set to open lower, and sectors like green energy and companies including Tesla slumped after Trump railed on Tuesday about wind turbines and grumbled about electric vehicles.

And the yield on the 10-year Treasury note hit a roughly nine-month high on Tuesday, a worrying sign for house hunters and credit-card holders.

Some market watchers still believe that markets could check the Trump agenda. Bond vigilantes could act as a brake on Trump’s policies if they reignite inflation.

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And more broadly, the Trump team cares “about the verdict of financial markets,” Holger Schmieding, an economist at Berenberg, wrote in a research note on Wednesday. “If their actions were to impair the potential for growth and corporate earnings badly enough to trigger a sell-off, they might change tack.”

There are signs that might prove true. Trump acknowledged on Tuesday that it would be “hard” to bring down consumer prices, a major shift from what he told supporters on the campaign trail. His big inflation-fighting idea, expanding oil drilling, hasn’t yet affected the markets, with crude oil prices on a steady rise in recent weeks. (President Biden’s ban on new oil exploration in vast stretches of U.S. waters has contributed to that price surge, and may be hard for Trump to undo.)

That said, the VIX volatility index, known as Wall Street’s fear gauge, has been stable for weeks, a sign that equity investors are still bullish.


Donald Trump’s transition team has already amassed a mega budget to throw an inauguration bash for the ages.

And the president-elect can thank the giants of the tech industry and Wall Street — some of the same figures who’ve met with him recently at Mar-a-Lago — for the record haul of at least $150 million. Few federal rules govern how Trump and his associates can spend the money.

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Donors who have gone public include: Amazon, Bank of America, Goldman Sachs, Meta and Uber. Executives such as Tim Cook of Apple, Dara Khosrowshahi of Uber and Sam Altman of OpenAI have also chipped in.

Contributing to inauguration funds has become a corporate America tradition. “You’re giving money directly to the incoming president with no risk of backing the wrong horse,” Craig Holman, a lobbyist with Public Citizen, a consumer rights watchdog, told DealBook’s Sarah Kessler. Donors who give $1 million to the fund receive tickets to the inauguration plus other events such as a reception with cabinet picks and a pre-inauguration dinner with Trump.

There are only a few restrictions. Foreign nationals are not allowed to donate, and donations over $200 must be disclosed. And anti-bribery laws apply. “Beyond that, it’s pretty much open in terms of who may contribute and how they may spend it,” said Kenneth Gross, a lawyer specializing in campaign finance at Akin Gump.

The inauguration fund pays for the parties, dinners and the parade, while taxpayers foot the bill for security and the swearing-in ceremony.

What will happen to unspent funds? Two people involved in the fund-raising for Trump’s inauguration told The Times that donors expected the remaining money to go to Trump’s presidential library.

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The last time, Trump’s team raised $107 million (the previous record). It was later revealed that a nearly $26 million payment went to an event planning firm created by an adviser to the first lady, Melania Trump.

Lawmakers have sought to change things. One bill introduced in 2023 would limit contributions to $50,000. But such efforts have gained little traction.


Corporate treasury departments are usually bastions of caution, preferring to invest their companies’ money in stable assets like Treasury bonds. But a growing number are choosing to go a different route by investing in crypto.

By one estimate, more than 70 publicly traded companies have invested in Bitcoin, despite some having nothing to do with crypto. At least a few have been inspired by MicroStrategy, a software company that began amassing Bitcoin in 2020 — and now sits on a stockpile worth over $40 billion. MicroStrategy’s stock price is up roughly tenfold over the past 18 months.

But it means that those companies are putting their money in a highly volatile asset that could imperil their finances if things go wrong, The Times’s David Yaffe-Bellany and Joe Rennison write:

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The investments are a sharp pivot away from the cautious approach of the traditional corporate treasury department, whose focus is typically safeguarding cash rather than risking it for a higher return. Typical reserve assets include steady, predictable securities like U.S. government bonds and money market funds.

“I cannot understand how a risk-averse board could justify an investment in digital assets, given we know they swing quite significantly,” said Naresh Agarwal, an associate director at the Association of Corporate Treasurers, a trade organization. “It is quite an opaque market.”

Some investors aren’t on board with this new tactic. When Banzai, a publicly traded marketing firm, decided to invest in Bitcoin, some shareholders expressed alarm. Joe Davy, its C.E.O., told The Times: “I got a couple of phone calls from people who were like: ‘What the hell is going on over there? What are you thinking?’”

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Politics and policy

  • The Justice Department added six major landlords, including Blackstone’s LivCor, to a price-fixing lawsuit against the real estate software company RealPage. (WSJ)

  • Theodore Farnsworth, the former C.E.O. of MoviePass’s parent company, pleaded guilty to fraud over misleading investors about the business’ “unlimited” subscription plan. (NYT)

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Video: Unraveling the Mystery Behind Bitcoin’s Creator

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Video: Unraveling the Mystery Behind Bitcoin’s Creator

new video loaded: Unraveling the Mystery Behind Bitcoin’s Creator

Our investigative reporter John Carreyrou spent 18 months digging through the archives of online cryptography communities in search of the identity of Satoshi Nakamoto, the anonymous inventor of bitcoin.

By John Carreyrou, Sutton Raphael, James Surdam, Coleman Lowndes and Joey Sendaydiego

April 8, 2026

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Commentary: Exploring the moon while cutting NASA? Why Trump’s 2027 budget misfires

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Commentary: Exploring the moon while cutting NASA?  Why Trump’s 2027 budget misfires

Trump’s budget proposal takes aim at programs that make Americans smarter, healthier and safer. What’s his real agenda?

The oldest, most enduring cliche about government policy is the one about how budgets are political, not fiscal, documents.

The Trump administration’s budget proposal for the 2027-28 fiscal year, unveiled Friday, seems designed to set a new standard for partisan ideology as a spending standard.

You may have seen news coverage of the budget’s top lines, which call for $1.5 trillion in defense spending next year and cuts totaling $73 billion in nondefense spending. But those figures fail to communicate the raw flavor of the budget cuts or how they’re described in the 92-page document.

It’s an extinction-level event for science.

— Casey Dreier, Planetary Society, on budget cuts at NASA

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Nor do they provide perspective for the magnitude of the defense increase or the damage that would be wreaked upon crucial social programs.

The defense request, for instance, would be a 42% increase over the current year, but it might be better judged as what Todd Harrison of the pro-business American Enterprise Institute describes unhappily as “the highest level of funding for defense in US history, surpassing even the peak funding during World War II.”

Adjusted to today’s dollars, Harrison calculates, the World War II peak was a bit lower than $1.2 trillion.

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The administration minimizes the overall budgetary effect of its spending plans by projecting average growth in gross national product at 3% annually over the next decade.

That’s an ambitious goal, to say the least. Over the last 25 years — that is, in this century — U.S. economic growth has reached or exceeded 3% in only three years, including a pandemic-era surge to 6.1% in 2021. Last year it was only 2.1%.

On the other side of the ledger, the nondefense budget would be cut by 10%. But programs the White House has specifically targeted for being contrary to its ideology would suffer far more devastating cuts. Some scientific programs, such those concerned with global warming or the social and economic implications of science, technology and healthcare policies would be slashed by more than 50%.

NASA may be enjoying a moment just now, as its Artemis II spacecraft rounded the far side of the moon Monday, preparatory to heading back to Earth in the first moonshot since Apollo 17 last landed men on the lunar surface in December 1972.

But Trump proposes slashing the agency’s budget by $5.6 billion, or 23%. It gets worse: Trump would cut NASA’s science division by $34 billion, or 47%, canceling more than 40 projects, of which about 20 are currently underway.

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“It’s an extinction-level event for science,” Casey Dreier, chief of space policy at the Planetary Society, told Nature.

Among the programs facing extinction is NASA’s Office of Science, Technology, Engineering, and Mathematics Engagement, which aimed to interest minority students in those so-called STEM disciplines.

“NASA will inspire the next generation of explorers through exciting, ambitious space missions,” the budget says, “not through subsidizing woke STEM programming and research that prioritizes some groups of students over others.”

The budget leaves unclear how those “exciting, ambitious space missions” will come to pass, since it also cuts $297 million from NASA’s annual spending on space technology.

The proposed cuts to science programs more generally would be devastating. The National Science Foundation, one of the most important scientific grant-making agencies in the world, would lose $4.8 billion, or 55% of its funding.

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The language the budget uses to rationalize such cuts speaks volumes about the drivers of its draconian cuts in nondefense spending: It’s an expression of Trumpian culture war hobby horses such as hostility to diversity, equity and inclusion (DEI) initiatives. The term “woke” or its derivatives appear 32 times in the budget document — as many times as it appears in Project 2025, the far-right roadmap for a second Trump term published by the Heritage Foundation in 2023.

The $8.5 billion in proposed budget cuts to K-12 spending would include the elimination of the $70-million Teacher Quality Partnership, which the budget describes as a program to “train teachers … on divisive ideologies.”

Among those, the budget says, are “inappropriate and divisive topics such as Critical Race Theory, diversity, equity, and inclusion, social justice activism,” and “anti-racism.” Nothing in the document explains why any of those things are considered bad; the terms are merely shibboleths that Trump’s core audience is expected to accept as gospel.

Services for transgender individuals would take a major hit from the budget: Among the $204.5 million in Treasury Department funding for community development initiatives on the chopping block would be support for “gender extremism,” such as for clinics that provide “‘gender-affirming hormone therapy’ and other services to young patients.”

As I’ve reported, Trump has bought heavily into conservative attacks on gender-affirming care, including by spouting claims that I labeled in 2024 as “deranged and despicable,” such as that schoolchildren are being kidnapped by school administrators and subjected to surgery against their will.

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Perhaps the most concentrated assault in the proposed budget, as my colleague Hayley Smith reported, is the one aimed at research, development, and construction of renewable energy sources. The budget plan contains no fewer than 20 references to what it calls the “green new scam.”

This is an infantile reference to what’s typically known as the “Green New Deal,” a raft of policies incorporating a transition from fossil fuels such as oil, gas and coal to renewables as well as the concept of “environmental justice,” meaning efforts to ensure that the transition doesn’t overly burden disadvantaged communities.

Trump has consistently called for more development of fossil sources, including a revival of coal despite its unrelenting and inevitable glide path toward extinction as a component of U.S. energy generation. The budget plan doubles down on this policy, calling renewables R&D a “leftist” ideology. This is tied to policies “opening up more Federal land and waters for oil, gas, and clean coal development,” the document says. (“Clean coal,” which is to say nonpolluting coal, is a myth, as I’ve reported.)

The budget plan pays tribute to another Trump obsession, the supposed evils of wind power. Cuts to the Interior Department budget would “put a stop to disastrous offshore wind energy projects that harm hardworking coastal communities, precious wildlife, and American military readiness.” None of these assertions about wind power is supported by reality.

Some cuts appear to reflect a determination to exact retribution from agencies that have thwarted cherished conservative goals. The National Institutes of Health, a consistent target of conservative budget-cutters, would lose $5.9 billion, or 12.5% of its budget. That would include major cuts to the National Institute of Allergy and Infectious Diseases, which was formerly headed by the respected immunologist Anthony Fauci.

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The budget drafters couldn’t resist taking a swipe at Fauci, who has been the target of smears from Republicans who have tried to blame him, absurdly, for the COVID pandemic. The budget document accuses Fauci of steering government funds to the Wuhan (China) Institute of Virology, which it called “the likely source of the COVID-19 pandemic.”

There’s no compelling evidence that a laboratory was a source of the virus, as I’ve documented: The overwhelming weight of scientific judgment is that the virus reached humans from natural zoologic sources. The budget plan resurrects the long-debunked conspiracy theory that Fauci orchestrated a 2020 scientific paper that judged the lab-leak theory to be “improbable.” The budget drafters assert that Fauci (who retired in 2022) “commissioned” the paper, which is simply untrue.

Another theme percolating through the budget plan is the need to protect our wealthiest taxpayers from, well, taxes. The budget would cut $1.4 billion from the budget of the Internal Revenue Service, reversing a restoration of the agency’s enforcement capabilities undertaken during the Biden administration. Trump cut IRS staffing by 20,000, or 27%. The document asserts that the IRS “has been weaponized against the American people, small businesses, and non-profit organizations.”

According to the Yale Budget Lab, every dollar the IRS spends on audits yields more than $7 in returns. Plainly that’s not coming from average Americans, but from the upper crust.

None of this means that the budget proposal isn’t valuable, to an extent. It’s a convenient one-stop window into Trump’s personal fixations: the elimination of “radical gender and racial ideologies that poison the minds of Americans,” the horrors of “the globalist climate agenda,” the “invasion” of violent criminals from abroad, and so on. In other words, there’s nothing new under the Trumpian sun.

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Hypersonic aircraft company moves headquarters from Atlanta to El Segundo

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Hypersonic aircraft company moves headquarters from Atlanta to El Segundo

Aerospace startup Hermeus is moving its headquarters to El Segundo from Atlanta as it aims to build autonomous hypersonic aircraft for the military, the latest sign of revival in the region’s aerospace and defense sectors.

The company, valued at $1 billion, is opening executive offices and a facility where it will design and build its next prototype, a supersonic plane intended to hit Mach 3 — faster than any modern warplane.

The company’s goal is to eventually develop a hypersonic plane reaching Mach 5, or five times the speed of sound, and Southern California has the engineering talent base to help achieve that, executives said.

“Building a lot of aircraft developmentally very quickly, doing iterative developments, it really doesn’t exist anywhere out in the world other than SpaceX — and we’ve recruited a lot of talent from there over the years,” said co-founder and Chief Executive AJ Piplica, a Georgia Tech alumnus.

“We’re now at a point in the company’s trajectory where we are scaling what the team can do,” he added.

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Elon Musk founded SpaceX in El Segundo 24 years ago and later moved its operations to Hawthorne, where the company still maintains a large campus despite relocating its headquarters to Texas in 2024.

El Segundo and other South Bay cities have witnessed explosive growth in recent years, with scores of startups in aerospace and defense tech — many founded by former SpaceX employees.

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Hermeus announced its move Tuesday at the same time it disclosed its latest $350-million funding round, which it said values the company at $1 billion.

The round was led Khosla Ventures, founded by prominent Silicon Valley venture capitalist Vinod Khosla. Other participants included billionaire Peter Thiel‘s Founders Fund.

Sam Altman, the CEO and co-founder of OpenAI, led a prior $100-million funding round in 2022. The company said it has now raised $500 million in equity and debt.

Hypersonic planes and weapons are at the cutting edge of military research and development. China and Russia have developed the weapons, which are viewed as strategic threats, with Russia deploying them in Ukraine.

Missile development also is taking place in the United States, including at legacy defense contractors Northrop Grumman and Lockheed Martin, as well as Torrance startup Castelion.

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Hermeus is developing supersonic and hypersonic aircraft that are not only autonomous but also reusable, like any modern jet. The aircraft would have multiple uses, including as a strike fighter, conducting reconnaissance and transporting cargo.

“What we are building here is not just an airplane, it is a platform,” Piplica said.

The company, founded in 2019, flew its first prototype, Quarterhorse Mk 1, in May 2025 during a short low-speed flight at Edwards Air Force Base in the Mojave Desert.

Hermeus' headquarters in El Segundo.

Hermeus’ headquarters in El Segundo. The aerospace firm has begun moving into its 67,000-square-foot offices and will take full occupancy early next year.

(Hermeus)

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It flew its first second aircraft in February at Spaceport America over White Sands Missile Range airspace in New Mexico. The Quarterhorse Mk 2.1 plane is three times larger than the initial prototype and about the size of an F-16. The goal is to reach supersonic speeds.

Hermeus plans to continue testing aircraft at the isolated missile range, where it can fly faster while not endangering structures or anyone on the ground.

Since 2021, the firm has operated out of a 110,000-square-foot facility in Atlanta, where it has its offices as well as design and production operations.

It will retain the site and use the entire space for production.

Georgia is the home of multiple aerospace manufacturing facilities, including Northrop Grumman.

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“That talent base [in Georgia] is extremely aligned to large-scale aerospace manufacturing. Prototyping is a whole different world — different skill sets, different capabilities,” said Piplica, who had been an executive at Atlanta hypersonic research company Generation Orbit before co-founding Hermeus.

The aerospace firm has begun moving into its 67,000-square-foot offices at 888 North Douglas St. in El Segundo and will take full occupancy early next year. The Southern California operation will employ more than 200 people by next year, adding hundreds more in the coming years, executives said. Hermeus currently employs about 300.

The company is currently building its third Quarterhorse aircraft, which it expects will fly faster than Mach 2, in the Atlanta facility. It is expected to fly later this year. The fourth Quarterhorse will be built in El Segundo — with the goal of hitting Mach 3. It should fly next year with the military showing interest in a plane flying at that speed, Piplica said. .

Its hypersonic plane, designed for defense and national security missions, is farther off and dubbed the Darkhorse. Reaching Mach 5 involves the use of a so-called ramjet, which is similar to a traditional jet engine but doesn’t have any moving parts.

Hermeus does engine testing in Jacksonville, Fla., and has engineering offices in Hawthorne that it plans to retain.

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In El Segundo, it’s leasing space in two buildings in a 30-acre complex Hackman Capital Partners acquired from Northrop Grumman in 2017 and spent $100 million making over into modern offices.

The complex includes the West Coast offices of L’Oreal USA, the headquarters of alternative protein company Beyond and labs that El Segundo aerospace company Varda Space Industries recently subleased from Beyond.

El Segundo Mayor Chris Pimentel said the city helped market the Hermeus space.

“We spoke loudly about the opportunity over there for a couple different players. I thought frankly that Hermeus had passed us by and that they were going to stay in Atlanta, so we’re delighted,” he said.

The city counts more than 40 aerospace and tech companies as having headquarters or major operations in El Segundo. In addition to contractors Boeing and Northrop Grumman, they include startups Picogrid and Sift. There are other companies, including suppliers.

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