Good morning. It's Friday, May 2, and we're covering staffing changes in the Trump administration, the upcoming Kentucky Derby, and much more. First time reading? Join over 4 million intellectually curious readers. Sign up here.
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National Security Adviser Mike Waltz was relieved of his current role and will become ambassador to the United Nations, according to a social media post by President Donald Trump yesterday. The decision comes after fallout from a leak of military plans in a Signal group chat. Secretary of State Marco Rubio will fill the role on an interim basis.
Waltz is the first senior leader in Trump’s second administration to exit his role. As national security adviser, Waltz was tasked with providing the president with direct, cross-departmental reports on national security and producing the president’s daily brief (see 101). The White House had reportedly considered firing Waltz for weeks due to his role in the leak, in which the three-term former Florida congressman unintentionally invited Atlantic editor Jeffrey Goldberg into a group chat discussing imminent military plans in March (see previous write-up).
Several other national security officials were fired in recent weeks. Defense Secretary Pete Hegseth faces ongoing scrutiny for his participation in the chat. |
Conagra, owner of Chef Boyardee, has reportedly agreed to sell the historic brand to private equity firm Brynwood Partners. The deal, which is not yet finalized, is valued at $600M.
Italian immigrant Ettore “Hector” Boiardi launched the pasta sauce with his brothers in 1928 after running a popular restaurant in Cleveland. The brand played a key role in introducing Italian food to the US, challenging the preeminence of French cuisine. Chef Boyardee was once the US’ No. 1 importer of Parmesan cheese. At the company's height, its Pennsylvania factory produced 250,000 sauce cans per day. Read more about the celebrity chef here.
Chicago-based Conagra, which bought Chef Boyardee in 2000, is shedding the brand to focus on its frozen food and snack portfolio, including protein-heavy Slim Jim meat sticks. Amid slowing sales, the company recently launched “GLP-1 friendly” labels to market products to customers using weight-loss drugs (how they work). |
'Greatest Two Minutes in Sports' |
The 151st Kentucky Derby takes place tomorrow at Churchill Downs in Louisville, Kentucky. This year’s race features 20 three-year-old thoroughbreds competing in the 1.25-mile “Run for the Roses,” racing for a $5M purse, with the winner set to take home over $3M. Coverage begins at 2:30 pm ET on NBC, with the race’s post time set for 6:57 pm ET.
This year’s field includes offspring of two past Triple Crown winners and is led by favorite Journalism (3-1), who enters on a four-race win streak. He’ll face competition from Sovereignty (5-1) and Sandman (6-1), the latter drawing the historically unlucky 17th post—no horse has ever won from that gate since its introduction in 1930. Trainer Bob Baffert is also back with Rodriguez (12-1), aiming for a record seventh Derby win after a three-year suspension.
The Derby, first run in 1875, is the US' oldest continuously held sporting event and the first leg of horse racing’s Triple Crown (see 1440's overview). See how the horses got their names here. |
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Sports, Entertainment, & Culture |
> The 78th Annual Tony Award nominations announced with "Death Becomes Her," "Maybe Happy Ending," and "Buena Vista Social Club" leading with 10 nominations apiece (More) |
> Sean "Diddy" Combs turns down plea deal on sex trafficking and racketeering charges; jury selection is set to begin Monday (More) |
> Grammy-winning singer-songwriter Michael Bolton reveals brain cancer diagnosis (More) | "Rust" released in theaters today, three and a half years after the on-set shooting death of cinematographer Halyna Hutchins (More) |
The Novel: Explore the centuries-old practice of long-form writing, including some of history's most impactful works, in this week's 1440 Society & Culture newsletter. |
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> OpenAI CEO Sam Altman debuts his biometric eyeball-scanning cryptocurrency World in six US cities; users reportedly visit Apple-like physical stores to enroll (More) | Learn more about cryptocurrency (More) |
> Facial microbiome study reveals how different strains of C. acnes develop and populate on the skin during teenage years; findings may help lead to more effective probiotic defenses against acne (More) |
> An individual California sea lion becomes the only known nonhuman mammal capable of high-precision rhythmic beats; analysis opens questions on other animals' ability to measure time (More) |
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> US stock markets close higher (S&P 500 +0.6%, Dow +0.2%, Nasdaq +1.5%) (More) | Reddit shares rise 6% in after-hours trading after posting strong Q1 results and upbeat sales forecast fueled by digital ad spending (More) |
> Amazon beats Q1 expectations, reports 19% year-over-year revenue growth in online ad business; shares fall on light Q2 guidance (More) | Apple tops Q2 earnings and revenue estimates, thanks to iPhone demand (More, Apple 101) | McDonald's reports largest US same-store sales drop since 2020 due to lower foot traffic (More) |
> Kohl's fires CEO Ashley Buchanan after external probe found he violated ethics policies by arranging lucrative business deals to benefit a romantic partner (More) | Trump family's stablecoin chosen for $2B Abu Dhabi investment in Binance (More) |
How annuities work: We're unpacking how the financial contracts, typically between an individual and their insurance company, work in this week's 1440 Business & Finance newsletter. |
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> Federal judge blocks Trump administration from using the 18th-century Alien Enemies Act to deport Venezuelans without a court hearing; ruling does not block deportation of migrants under the Immigration and Nationality Act (More) |
> Health and Human Services Secretary Robert F. Kennedy Jr. requires placebo-controlled trials to test all future vaccines (More) | Agency invests $500M into a project aiming to develop a universal flu vaccine (More) |
> Iran-US nuclear negotiations postponed as the US unveils new sanctions on Iranian-linked companies (More) |
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> A Case for Curiosity
Behavioral Scientist | Elizabeth Weingarten. Developing our sense of curiosity can connect us with the world around us and may reduce symptoms of anxiety and depression. (Read) |
> The Rise of Sports Gambling
Wisconsin Public Radio | Staff. Since a 2018 Supreme Court decision, up to 37% of US adults have engaged in sports betting, collectively gambling nearly $500B. How did online sports betting suddenly become big business—and what does the trend mean for young men? (Listen)
Editor's note: For more, check out our overview of the sports betting industry. |
> The Water Problem
The New Atlantis | Charles C. Mann. Clean water access is a privilege many take for granted, though the process of recycling water is a feat of engineering. Why clean water remains out of reach for so many—and why we shouldn't wait for crises to maintain failing water pipes. (Read) |
> Switzerland's Bunkers
The Dial | Jessi Jezewska Stevens. Switzerland has more bunkers per capita than anywhere else in the world. Why did the country go all in on bunkers, and are the Swiss prepared for worst-case scenarios? (Read) |
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