Everybody Wants to Rule The World |
The World Cheese Awards is the international cheese event. It will be held in Switzerland for the first time from Nov. 13–15, 2025, temporarily turning the Swiss capital, Bern, into the "Capital of Cheese." Here's the trophy: |
 | All this could be yours…(Why is there no allusion to cheese? No one is going to know what this is? What the heck? —Ed.) |
|
Meanwhile, as we all know, some people want to rule the actual world — not just the world of cheese! More on this later. |
Table of Contents |
|
My editor Sydney went to the same high school as Mark Cuban. We will have an in-depth investigation here shortly. |
—Matt Davis, Need2Know Chedditor |
P.S. We've got the five best countries for digital nomads on the 'gram. |
|
Quote of the Day |
| ❝ | | | "I think there's gonna be two types of companies, those who are great at AI and everybody else." | | | | — Mark Cuban |
|
|
|
Should You Check Your 401(k) Today? |
👎 |
(still a firm nope from me, I'm afraid…) |
|
Companies mentioned in today's newsletter |
CLV.X ( 0.0% ) LUV ( ▲ 8.34% ) DELTACORP.NSE ( ▲ 0.52% ) TSLA ( ▲ 3.8% ) |
|
Behind the Scenes at SXSW with Mark Cuban |
|
Cheddar got to interview billionaire Mark Cuban at South by Southwest (SXSW) about the upcoming Clover x Shark Tank Summit, small business challenges, and the future of AI. Cuban highlighted the value Clover brings to entrepreneurs: |
"Clover is a great company for entrepreneurs," he said. "It's a great match with all the entrepreneurs coming on to Shark Tank". |
Clover CLV.X ( 0.0% ) is a cloud-based Android point of sale that processes more than $133 billion of annualized card transactions worldwide, making it the largest U.S. cloud POS firm. The upcoming Clover x Shark Tank Summit in Las Vegas aims to show "how supportive Clover is of entrepreneurs and startups and companies of all sizes," Cuban said. |
"I think there's gonna be two types of companies, those who are great at AI and everybody else," Cuban said. He also sees Clover as a valuable tool for establishing the right foundations for businesses to leverage AI. |
When asked about investing $1,000, Cuban suggested a money market due to current market uncertainties, noting, "rather than stressing every night about what my investment's doing, I'd probably just put it in the money market." |
Which is exactly what we'd do with it, too! #NotFinancialAdvice |
We did not ask him about the Dallas Mavericks, which he part-owns. Anyway, he thinks the club should have gotten a "better deal" for Luka Doncic, who is now making the Los Angeles Lakers a championship contender while Anthony Davis remains injured on the Mavs bench. Cuban was inducted into the South by Southwest Hall of Fame on Monday, and in his acceptance speech he said: "It bothers me that we have people at the top of this country who pretend to be entrepreneurs, who have never started anything from scratch." |
That's a burn worthy of a Cuban cigar, Mark. 🔥 |
For readers curious about the Sydney–Cuban connection, she offers this: |
Mark Cuban filmed part of a "Shark Tank" episode at our shared high school (where we both went), and some students got to be in the audience while he spoke to us on camera. I was in the audience but not included in the final edit. I am not bitter #NotBitterAdvice | | | | Sydney |
|
|
|
|
Hackers claim credit for X attack |
|
Who on earth would have anything against Elon Musk and his company, X? |
Well, it could be a number of people, although one group of hackers has claimed credit for breaking the company on Monday, and Musk himself has blamed another. |
On March 10, X users encountered the digital equivalent of a "closed" sign on the platform's doors. Reports of multiple outages spread quickly, pointing to a "massive cyberattack" to quote Musk, who suggested the involvement of a "large, coordinated group and/or a country" in a post on…X, which you couldn't read at the time. |
Yesterday, a group claimed responsibility with a fervor matching the attack's impact: Dark Storm. Identifying itself as a pro-Palestinian hacktivist collective, Dark Storm took to its Telegram channel to assert its role in the cyberassault on X: |
 | Kudos to the two people who reacted with the raised eyebrow emoji. You sure showed them who's boss! |
|
Their primary targets are Western entities, including organizations in the United States, Ukraine, the UAE, and Israel. Over the past month, they have launched successful attacks on critical infrastructure, including airports (such as LAX in the U.S.), Haifa Port in Israel, and the UAE's Ministry of Defense. |
If it was them, then the timing is not coincident. President Donald Trump warned Monday that the arrest and possible deportation of a Palestinian activist who helped lead protests at Columbia University will be the first "of many to come" as his administration cracks down on campus demonstrations against Israel and the war in Gaza. |
Mahmoud Khalil, a lawful U.S. resident who was a graduate student at Columbia until December, was detained Saturday by federal immigration agents in New York and flown to an immigration jail in Louisiana. A federal judge in New York City ordered Monday that Khalil not be deported while the court considered a legal challenge brought by his lawyers. A hearing is scheduled for today. |
A few hours after the final attack concluded, Musk told Fox Business host Larry Kudlow in an interview, "We're not sure exactly what happened, but there was a massive cyberattack to try to bring down the X system with IP addresses originating in the Ukraine area." Musk has mocked Ukraine and its president, Volodymyr Zelensky, repeatedly since Russia invaded its neighbor in February 2022. An industry source told Reuters the hack was not from Ukraine: |
"The industry source disputed Musk's account, saying that large chunks of the rogue traffic bombarding X could be traced back to IP addresses in the United States, Vietnam, Brazil and other countries, and that the amount of rogue traffic coming directly from Ukraine was 'insignificant.'" |
|
|
Dark Storm's group's methods bear resemblance to those of KillNet, a Russia-linked entity known for its cyber offensives against Western targets, suggesting a lineage of tactics shared amongst digital antagonists. Of course, the authenticity of Dark Storm's claims remains a matter of investigation. X is back up, now, so we're all good, right? |
|
|
From @cheddar |
 | cheddar760K followers | |
|  | | cheddar | | Add a comment... |  |
|
|
|
|
|
|
China's tariffs take effect on U.S. |
|
China has begun enforcing new tariffs on a variety of U.S. agricultural products, deepening the trade standoff and shifting global trade dynamics. The imposition of these tariffs by Beijing came shortly after President Trump announced a second increase on tariffs affecting Chinese products. |
The Chinese response encompasses a 15% levy on several American products such as chicken, wheat, and corn; soybeans, pork, beef, and various fruits will see a 10% tariff. China is the largest overseas market for many U.S. farm products. |
In a slight reprieve to American exporters, China has stipulated that goods shipped before Monday and imported by April 12 would not fall under the new tariff regime. Good news for those of you wanting to ship any corn to China, right? |
President Trump's strategy, as outlined through various directives, has been clear: to revitalize the United States' industrial sector by imposing hefty tariffs on imported goods, particularly from China. By increasing tariffs from an initial 10% to a staggering 20% and further to 25% on certain goods, the administration seeks to leverage these tariffs as both a negotiating tool and a means to reduce the trade deficit. |
Despite the recent escalations, there seems to be a tacit acknowledgment from both sides of the potential for compromise. Signals of détente, including China's invitation to American trade officials for discussions, alongside President Trump's suggestion that a new trade deal with China is "possible," offer a glimmer of hope. However, the United States' position in this trade war is somewhat advantageous due to the significant trade imbalance — Americans purchase far more from China than vice versa. |
Here's the Wall Street Journal from March 5: |
Soon after Donald Trump won the presidential election in November, Xi Jinping asked his aides to urgently analyze the Cold War rivalry between the United States and the Soviet Union. His concern, according to people who consult with senior Chinese officials, was that as President Trump gears up for a showdown with Beijing, China could get isolated like Moscow during that era. He's not wrong to worry. Even though Trump may be the one who currently looks isolated on the world stage—picking trade fights with erstwhile allies like Mexico and Canada, alarming Europe over his handling of the war in Ukraine and vowing to annex Greenland and the Panama Canal—the truth is that China doesn't hold a strong hand. With a domestic economy in crisis, Xi is playing defense, hoping to salvage as much as possible of a global trade system that helped pull his country out of poverty. Across the Pacific, Trump is intent on rewiring that very trading system, which he and his advisers see as having benefited the rest of the world—and China most of all—at the U.S.'s expense. |
|
|
What do you think? My sense is they'll probably cut a deal before April, but who knows. |
|
|
Southwest to start charging for your bags |
|
Starting May 28, Southwest LUV ( ▲ 8.34% ) will begin charging some customers for checked baggage. The decision is aimed at boosting the company's financial performance, particularly focusing on enhancing its earnings, which have shown to be less than stellar in recent periods. |
For years, Southwest Airlines had set itself apart with its generous "bags fly free" policy. It was the only major U.S. carrier allowing customers to check two bags at no cost, a unique selling point that Southwest executives frequently touted as a key differentiator from their competitors. |
Delta Air Lines DAL ( ▼ 7.25% ) President Glen Hauenstein was quick to highlight the potential for this shift to change customer loyalty, suggesting that some of Southwest's customers are now "up for grabs." |
Southwest's decision didn't come lightly. In fact, the airline had previously cautioned investors about the potential backlash from eliminating the free checked bags policy. According to their analysis, while charging for bags could bring in an additional $1.5 billion in revenue annually, it might result in a $1.8 billion loss in market share. Despite these concerns, CEO Bob Jordan defended the reversal, citing recent booking data that indicated the free-bags policy might not be as beneficial as once thought. |
In 2023, baggage fees generated over $7 billion in revenue for major U.S. airlines. However, Southwest lagged significantly behind, pulling in just $73.4 million, according to the Bureau of Transportation Statistics. |
Under the new policy, Southwest will continue offering two free checked bags to its most loyal customers, including those with A-List Preferred status and passengers who purchase the most premium fares. A-List customers will be entitled to one free checked bag, and those holding the airline's co-branded credit card will also receive a free bag credit. All other passengers will be subject to fees for their first and second checked bags. |
CEO Jordan believes this change will not only boost credit card program enrollments but also bring about operational benefits. The policy shift is part of a broader strategy by Southwest to revitalize its business model. Following the first company-wide layoffs in its nearly 54-year history, Southwest seems to be under growing pressure from stakeholders, including activist investor Elliott Investment Management, to increase its revenue streams. |
|
|
Tesla shares tank as Musk runs DOGE |
|
My father in law sold his Tesla stock because he thinks Elon Musk is not fit to run a company. Turns out that was probably a smart investment decision, whether or not you agree with his take on Mr. Musk. |
That's because Tesla Motors TSLA ( ▲ 3.8% ) , the trailblazer of electric vehicles and renewable energy, has seen its shares fall by 50% since December last year. Tesla's stock fell from a high of approximately $480 to a low of around $220, with the company losing a stunning $800 billion in market value. |
Tesla's stock crash stems from revised delivery forecasts and broader market fears, and Tesla's CEO Elon Musk has seen a reduction in his net worth by an estimated $130 billion so far this year. Investors and market analysts alike are attributing this turbulence to a series of complex factors, chief among them Musk's increasingly controversial political engagements. |
Musk, celebrated for his visionary approach to renewable energy and electric vehicles, has found himself in the whirlwind of political controversy. His close ties with the Trump administration and endorsement of far-right parties in Europe appear to have backfired on Tesla's market standing. Indeed, his omnipresence in political circles has raised concerns among investors about his commitment to Tesla, especially at a time when the company's car sales are waning. |
The company faces multifaceted challenges, including a significant drop in sales numbers in Europe, exemplified by a sharp 76% decrease in Germany — the continent's biggest car market. Analysts point to a combination of Musk's political endorsements, a stale vehicle lineup, and burgeoning competition as contributing factors to Tesla's flagging performance. |
Moreover, incidents of vandalism and protests at Tesla facilities — ignited by Musk's controversial actions like job cuts among park rangers and slashing foreign aid — reveal the depth of public dissent. These manifestations of political backlash have undeniably tainted Tesla's brand, further complicating its path to recovery. The trade conflicts spurred by Trump's policies, although seemingly disparate, also have implications for Tesla, particularly with its significant operational base in Shanghai. |
Six days ago the Atlantic ran a piece about Musk's ketamine use — he says he takes it every two weeks to treat his depression — which makes for interesting reading. It notes that "excessive use of the drug can make anyone feel like they rule the world": |
Such theoretical impairments would be concerning in any context—but especially when contemplating a person who has achieved enough power to be unironically described as co-president of the United States. To be sure, ketamine may have nothing to do with his actions. He may be simply acting in accordance with his far-right political ideology. Musk also famously brags that he rarely sleeps—never a good strategy for measured speech or actions. |
|
|
On the other hand, the company's stock is up 17,000% since it went public. That's an awful lot of percents, and it makes me wonder whether this ketamine stuff might be worth trying to "treat" my "depression" #NotDrugAdvice. For now, though, I'll just tuck into a nice slice of cheese. |
|
|
| Want more Cheddar? Watch us! | Search "Cheddar" on Samsung, YouTube TV, and most other streaming platforms. | N2K is the tip of of the cheeseberg for financial news, interviews, and more. | |
|
|
