Chris Campbell:

Musk Says China’s Blocking of Rare Earth Magnets Will Hit Tesla Humanoid Robots

Tesla CEO Elon Musk said Tuesday that China’s decision to block the exports of rare earth magnets in response to President Trump’s tariffs will slow the rate of production for the company’s Optimus robots, which are set to perform human daily functions. 

“Permanent magnets for this motor is more affected by the supply chain, unified by basically China requiring an export license to send out anywhere with magnets. So we’re working through that with China,” Musk said during Tesla’s earnings call Tuesday. 

“Hopefully we’ll get a license to use the rare earth magnets. China wants some assurances that these are not used for military purposes, which, obviously they’re not,” he added.

The CEO said he was confident the company would be able to overcome these issues. Tesla’s delay in the development of Optimus robots comes as the tech manufacturer saw a 71% drop in quarterly earnings.

The skyfall follows Musks heavy participation in government downsizing and cuts carried out by the Department of Government Efficiency (DOGE).

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Adam Sharp:

‘Magnificent Seven’ Tech Stocks Surge As Trump Hints at China Tariff Reprieve

Big Tech stocks surged for a second day, with Tesla and Amazon leading the so-called ‘Magnificent Seven’ stocks higher as the Trump administration hinted at a deescalation of the US-China trade war.

Tesla (TSLA) jumped as much as 7% early Wednesday before paring gains, while Amazon (AMZN) and Meta (META) rose around 7% and 6%, respectively. Nvidia (NVDA) climbed more than 5%, while Apple (AAPL) jumped 3.5%. Google (GOOG) and Microsoft (MSFT) gained about 3%.

The gains come after President Trump softened his tone on China and hinted at a potential reprieve from unprecedented 145% “reciprocal” tariffs on imports from the country.

He said the current rate is “too high” and “will come down substantially” during a White House news conference Tuesday. Trump said he plans to be "very nice" to China to reach a deal in trade talks. Treasury Secretary Scott Bessent separately called the US-China trade war unsustainable during a private event in DC Tuesday.

A potential reprieve from Trump’s aggressive, unprecedented approach to trade policy would be good for tech companies, given China’s importance in their supply chain.

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James Altucher:

How a 65-Year Prison Sentence Unlocked My Best Life | Damon West's Story

Oh man. This guy was thrown in jail for 65 years—and he deserved it. You'll hear about Damon West's crimes and misdemeanors in this episode of The James Altucher Show. 

He started as a superstar quarterback, high school and college hero turned meth addict, and eventually became a hardcore RICO gang criminal. 

Sentenced to essentially life in prison, Damon's story is genuinely one of the most inspirational I've heard. He's got a bunch of books out—his latest, Six Dimes and a Nickel: Life Lessons to Empower Change, just came out and refers to the 65-year sentence he received. 

You need to read this book, which follows his memoir The Change Agent and The Coffee Bean, teaching a simple yet profound lesson about creating positive change. 

I could have talked to Damon forever about jail, prison fights, criminal life, meth addiction, and most importantly, the transformation that changed everything. By the way, this conversation will change your life, too—I really took a lot from his insights.

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