Who is John Ternus, the new CEO of Apple?

  Who is John Ternus, the new CEO of Apple?

Christoph Dernbach/Getty Images

Apple’s incoming CEO John Ternus likely won’t harness the rockstar innovation vibes of Steve Jobs, slinging sleek new devices to an auditorium of fans. But he probably won’t take the quieter style of Tim Cook, who revolutionized the company’s supply chain and boosted its market cap from $300 billion to $4 trillion in 15 years, either. So…what will the Ternus era at Apple look like when he takes over for Cook in September? There are some hints in his already decades-long Apple tenure. Ternus, a mechanical engineer, has worked at the company since 2001 and served as the Senior VP for hardware engineering. Employees at the company reportedly really seem to like him: He’s decisive, focused, a good collaborator, and has been known to rise above the internal drama that plagued Apple’s early years. He’s also overseen a number of iconic products and hardware revamps at the company: Ternus was one of the execs that helped develop AirPods and facilitated Mac computers’ switch to using Apple’s own chips. He pushed for the MacBook Neo—the cheaper, colorful laptop—that Apple rolled out last month (which sold out almost immediately). But what can a hardware nerd do in the AI race? Critics argue Apple has been slow to make AI advancements, falling behind competitors. Fans, however, credit the tech giant for letting other companies dump hundreds of billions into data centers and LLMs that Apple can just run on its devices. Some AI truthers think the tech will transform the industry, potentially wiping out the need for iPhones altogether. In that case, it may be a good idea to have the hardware guy at the helm. Ternus reportedly reorganized the company’s hardware engineering department earlier this month to prepare it for faster AI product development. Looking ahead…after a handful of product flops, like the Vision Pro and the autonomous car, Apple has its sights set on big AI-powered launches: a more chatbot-like Siri, wearables, and smart home devices. And don’t forget the company is going to fold the iPhone in half.

An Amendment to our Agreement!

OpenAI shakes up partnership with Microsoft, capping revenue share payments
Published Mon, Apr 27 20269:03 AM EDTUpdated 2 Min Ago

Ashley Capoot@/in/ashley-capoot/WATCH LIVE
Key Points
OpenAI and Microsoft announced major changes to their working relationship.
Microsoft’s license to OpenAI intellectual property will no longer be exclusive.
OpenAI will keep paying a revenue share to Microsoft, but Microsoft will stop paying one to OpenAI.

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CEO of OpenAI Sam Altman speaks during the 2026 Infrastructure Summit of government officials, corporate executives, and labor leaders, in Washington, D.C., U.S., March 11, 2026.
Kylie Cooper | Reuters


OpenAI and Microsoft on Monday announced a revamped partnership agreement that will allow the artificial intelligence company to cap revenue share payments and serve customers across any cloud provider.

As part of the new agreement, the companies said revenue share payments from OpenAI to Microsoft will be “subject to a total cap,” but they will continue through 2030, “independent of OpenAI’s technology progress.” Microsoft no longer needs to determine its response if OpenAI finds that it has reached artificial general intelligence, or AGI, which is a term for an AI system that rivals or exceeds human intelligence.


The revenue sharing agreement between the two companies has existed for years. OpenAI will pay Microsoft at the same percentage, which is 20%, as part of the new deal, according to a source familiar with agreement who asked not to be named because the details are confidential. Microsoft will no longer pay a revenue share to OpenAI, according to a blog post.

The two companies said Microsoft remains OpenAI’s primary cloud provider, and that OpenAI products will ship first on Azure unless Microsoft decides otherwise. However, OpenAI can now serve “all of its products” to customers across any provider, including Microsoft rivals Amazon and Google.

Microsoft has been one of OpenAI’s longtime backers, investing more than $13 billion in the company since 2019. The companies have continued to tout their relationship as core and strategic, but it’s shown signs of strain in recent months as the partners move onto the other’s turf. In a memo earlier this month, Denise Dresser, OpenAI’s revenue chief, said the partnership has “limited our ability to meet enterprises where they are.”

“Today, we are announcing an amended agreement to simplify our partnership and the way we work together, grounded in flexibility, certainty, and a focus on delivering the benefits of AI broadly,” OpenAI said.

Microsoft will continue to have a license to OpenAI’s intellectual property on AI models through 2032, although the license will no longer be exclusive, the two companies said.


Shares of Microsoft are down roughly 1% on Monday.

The revamped partnership comes after Microsoft and OpenAI announced a series of changes to their agreement in October, when OpenAI completed a recapitalization and committed to spending $250 billion on Microsoft Azure cloud services. As part of that announcement, Microsoft said its investment for-profit arm was valued at $135 billion, or roughly 27% of the company on an as-converted diluted basis.

But in the months since, OpenAI has been looking to diversify its reach, striking multi-billion dollar deals with Microsoft competitors like Amazon. Model developers are seeing customers run AI agents that carry out tasks over several hours. In recent weeks Meta committed to spending $48 billion with cloud providers CoreWeave and Nebius to supplement its own computing power.

Amazon and OpenAI formed a major strategic partnership in February, and Amazon agreed to invest up to $50 billion in the company as part of that agreement. OpenAI said it would expand its existing $38 billion agreement with Amazon Web Services by $100 billion over the next eight years. AWS will also serve as the exclusive third-party cloud distribution provider for OpenAI’s enterprise platform Frontier, which it unveiled earlier this month.

Following that announcement, Microsoft and OpenAI released a joint statement that said their partnership remained “strong and central.”

— CNBC’s Jordan Novet contributed to this report.

The tweet sending JetBlue to court

 The tweet sending JetBlue to court

Austin DeSisto/Getty Images

Yet another reminder to be careful what you post online, since anyone can see your tweets: hiring managers, lawyers accusing you of surveillance pricing, your parents. Andrew Phillips lodged a class-action lawsuit on Wednesday, claiming JetBlue uses personal data to raise ticket prices—which the airline appeared to admit to in an X post. How’d it get from tweeting to suing? The suit cites an interaction between a customer and the official JetBlue account on X last week. The customer lamented a rapid ticket price hike, saying, “I love flying @JetBlue but a $230 increase on a ticket after one day is crazy, I’m just trying to make it to a funeral.” The JetBlue account responded, suggesting they try clearing their cookies and booking the flight in incognito mode. The response was quickly deleted, and JetBlue has since said the social media post was incorrect, denying that it uses cached data or personal data to set ticket prices. The airline said prices can change quickly based on availability. But…other X users quickly piled on, accusing the company of using surveillance pricing, or adjusting ticket prices based on available data about a customer. And amid the uproar, even members of Congress demanded more information from the CEO of JetBlue about the reply. Pay-what-you-can afford JetBlue is not the first company to face similar allegations. And whether you call it dynamic pricing, surveillance pricing, or we-know-you’ll-pay-3x-the-price-because-it’s-an-emergency, people are mad about it: Last year, Delta faced significant pushback for introducing plans to roll out AI-powered dynamic pricing. Uber has been accused of charging higher prices when your phone is dying (the company has denied this). Looking ahead…your summer travel might still be a mess, but maybe the groceries can be saved. Maryland is set to become the first state to ban price changes based on customer data in grocery stores. A bill passed earlier this month by the state legislature targets digital price tags in stores and online shopping.

Half of Gen Z Would Rather Live in the Past

Half of Gen Z Would Rather Live in the Past: Survey
48% of Gen Z is concerned or anxious about AI.
BY MATT NOVAKUPDATED APRIL 24, 2026, 2:24 PM ET

READING TIME 2 MINUTES

© Shutterstock / Prostock-studio
READ LATER COMMENTS (28)



Gen Z doesn’t feel great about the state of the country right now.

Among 18 to 29-year-olds, 80% say the U.S. is on the wrong track, 76% disapprove of how President Donald Trump is handling the job of president, and just 25% expect life for Gen Z to be better than for previous generations, according to a new survey from NBC News.


Gen Z’s attitudes toward technology and history might be among the most interesting insights from the new survey, with nearly half of respondents (47%) saying they’d like to live in the past. That response was more popular than the number of people from that generation who said they’d like to live in the present (38%) and dwarfed those who wanted to live in the future (15%).

It appears that at least some of this longing for the past is rooted in apprehension about emerging technology. 48 percent of respondents said they were either concerned or anxious about AI, either because it would require new skills to keep up or because it could force them to change careers.

Twenty-seven percent said they’re not worried about AI and believe it won’t really affect their jobs. Just 25% said they’re optimistic about AI, believing it will allow them to do their job better.

You see the nostalgia for a previous era in trends emerging, like the retro-style landline phone called the Tin Can, which has gone viral in the past year. And as Bloomberg noted in a recent article about the Tin Can, retro tech is almost being thrust upon Gen Z, as countries like Australia ban social media for kids under 16.

Nostalgia for a previous era obviously isn’t that weird. In fact, by the late 2000s, there were articles being written about how Millennials were pining for the world that existed before the 9/11 terror attacks in 2001. And when boomers flocked to see the film American Graffiti in 1973, set in the early 1960s, they were romanticizing an era that they were either too young to appreciate in the same way or didn’t remember at all. Likewise, in 1993, the movie Dazed and Confused was set in 1976 and, for Gen X, represented a way of life many in that generation wanted to “return” to.

There were also some surprising responses in the new survey when it came to Gen Z’s familiarity with so-called prediction markets like Kalshi and Polymarket. Just 7% said they were currently “investing” in prediction markets. Sixty-seven percent said they were not participating in prediction markets, while 26% had not even heard of them.

Nostalgia isn’t uniform across Gen Z, as you can imagine. Just 33% of young Black adults in the generation said they wanted to live in the past, compared to 52% of whites, according to NBC. That likely has something to do with the prolific and systematic racial discrimination of the 20th century (especially before the Civil Rights Act of 1964) and the existence of chattel slavery in the 19th century.

The survey didn’t drill down specifically on that question. But it seems like a safe bet.

Bosses Are Blowing More Money on AI Agents Than It’d Cost Them

 Bosses Are Blowing More Money on AI Agents Than It’d Cost Them to Just Pay Human Workers

"The cost of compute is far beyond the costs of the employees."

By Frank Landymore

Published Apr 27, 2026 4:14 PM EDT
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Mindlessly unleashing AI agents to take over employees’ jobs can be pretty costly, it turns out. Some companies are learning the hard way that paying for the incredible volume of AI agent requests is costing more than what they’d pay their human employees, Axios reports.

AIs can perform all sorts of tasks, ranging from the rote to the complex. But one of the most popular ways it’s being used in the workplace is to generate mountains of code at a pace far greater than a human could achieve. Sometimes, software engineers will even run multiple AI agents at the same time, all working on different tasks in the background without supervision. Each of these tasks costs tokens, and the bill can quickly add up.

“For my team, the cost of compute is far beyond the costs of the employees,” Bryan Catanzaro, vice president of applied deep learning at Nvidia, told Axios.

The problem has become harder to ignore as organizations are increasingly reliant on using AI tools and agents — including the organizations building them. “Pretty much 100 percent” of Anthropic’s code is now AI-generated, the company’s head of Claude Code Boris Cherny claimed earlier this year. Google and Microsoft’s bosses claim that this share is around a quarter of their companies’ code. Meta employees performance reviews are now partly based on how much AI they use, showing that a lot of the push towards using AI is coming from the top.

It probably doesn’t help that many tech workers are treating their token bills as member-measuring contests, using millions of tokens in a single day. The slang for this, we regret to inform you, is “tokenmaxxing,” with some power users racking up monthly token bills north of $150,000. “I probably spend more than my salary on Claude,” Max Linder, a software engineer in Stockholm, told The New York Times last month. Uber engineers using Claude Code have already blown through the company’s entire 2026 AI budget, The Information reported.

Tech leaders’ attempts to grapple with the situation can sound nearly as comical as the dilemma itself. In March, Nvidia CEO Jensen Huang proposed giving software engineers AI tokens equal to roughly half their base salary, something he said could be used as a recruiting tool. Why be wooed by a signing bonus, when if you work for us, you get to use more AI?

At the same time, it’s a clear money-making opportunity for AI providers. One OpenAI investor told Axios that the concern over token costs could benefit them, since they believe Codex uses tokens more efficiently than Anthropic’s Claude Code. Anthropic, meanwhile, has cashed in by raising its pricing.

In all, the token costs are just one of many major question marks over AI automation. The jury’s still out on whether using error-prone AIs is more efficient and worth the potential havoc they can wreak internally — as evidenced by incidents at Meta and Amazon, among others — while numerous studies suggest that forcing workers to use AI tools could actually be making their jobs harder.

More on AI: Devious New AI Tool “Clones” Software So That the Original Creator Doesn’t Hold a Copyright Over the New Version



Frank Landymore
Contributing Writer


I’m a tech and science correspondent for Futurism, where I’m particularly interested in astrophysics, the business and ethics of artificial intelligence and automation, and the environment.

UAE leaves OPEC in a big blow to the oil cartel

 UAE leaves OPEC in a big blow to the oil cartel

Fadel Senna/Getty Images

The UAE is like the friend who just announced in the group chat that they’re taking their own car on the road trip. The Gulf nation announced yesterday that it’s leaving OPEC, the 12-nation oil cartel that accounts for half of global oil exports. The oil-flush nation’s abrupt departure—which it said will happen on Friday—is a huge blow to the organization that coordinates countries’ oil outputs in order to control prices. The UAE is the third largest oil producer in OPEC, after Saudi Arabia and Iraq. UAE-shaped hole OPEC has already been losing its grip on the world’s oil supply in recent years, as the US fracking revolution floods global markets with American oil. But now, its sway will be even more limited. The UAE said it’s leaving OPEC to have more freedom to decide how much oil to sell, and that it plans to gradually grow oil production as the world demands more of it: Before the closure of the Strait of Hormuz forced the country to reduce oil shipments, it produced 3.6 million barrels of oil daily, maxing out its quota. It seeks to boost production to 5 million barrels daily by 2027 by building pipelines or maximizing shipments once the strait reopens. There are likely geopolitical reasons, too: The UAE is engaged in a regional rivalry with Saudi Arabia, which is the de facto leader of OPEC. The two countries have the most oil sloshing around beyond what OPEC allows to be exported. Why now? The UAE says it made the decision to bid OPEC adieu now, amid the Iran war, when it would have the least disruptive impact, since oil prices are at multi-year highs. Looking ahead: Experts say that while OPEC losing the UAE might not suppress oil prices in the near future it might make them more volatile in the long term.

 

Carney points to Brexit, warns Alberta separation push could be 'dangerous bluff'

OTTAWA — Prime Minister Mark Carney said Monday the Alberta referendum on separation is a "dangerous bluff" if anyone thinks its results could be used as leverage in future negotiations.

David Baxter, The Canadian Pressabout an hour ago

Prime Minister Mark Carney shakes hands with Alberta Premier Danielle Smith in Calgary, Friday, May 15, 2026. THE CANADIAN PRESS/Jeff McIntosh

OTTAWA — Prime Minister Mark Carney said Monday the Alberta referendum on separation is a "dangerous bluff" if anyone thinks its results could be used as leverage in future negotiations.

Carney said he saw those effects first-hand when he was the governor of the Bank of England after the Brexit vote. He warned that people in the United Kingdom are still trying to undo the damage caused by that decision a decade later.

"In these separation issues, it is often advanced that, 'Vote for this and it's a free option. Vote for this and we will strengthen our hand in a future negotiation.' That is a very dangerous bluff," Carney told a news conference in Ottawa on Monday.

Alberta Premier Danielle Smith said last week her government will pose a question in the referendum planned for October asking Albertans whether they think the province should remain part of Canada or should begin the legal process for a separation referendum.

Smith said in a televised address last week that not asking the question in a referendum would amount to "muzzling the voices of hundreds of thousands of Albertans," something she said would be "unjustifiable" in a democracy.

A petition to trigger a referendum on Alberta separation was thrown out earlier this month by a judge, who cited the provincial government's failure to consult Indigenous communities on the effect separation would have on their treaty rights. The Alberta government is appealing that ruling.

Smith said last week that waiting for the court to complete that appeal process would prolong a "very emotional and important debate."

Carney said the government is reviewing the proposed referendum question to ensure it complies with the Clarity Act, the federal secession law which passed after the 1995 Quebec referendum.

The prime minister said he plans to campaign for national unity and to show that co-operative federalism can work.

He pointed to a deal he signed with Smith earlier this month which commits the two levels of government to working toward building a new oil pipeline to the Pacific coast, so long as industrial carbon price targets are met and carbon capture projects move ahead.

When asked if he tried to dissuade Smith from posing a separation question during those pipeline negotiations, Carney did not answer directly.

"The premier doesn't always take my advice," he said.

The prime minister said such a referendum campaign isn't helpful when the province is trying to woo investors for a pipeline. He pointed out that voters did not give Smith's government a mandate to take this step.

"Is it the democratic will of Albertans? Did they vote for this in the last provincial election? No, they didn't. It wasn't on the ballot paper, it wasn't in the mandates or platforms of the governing party and the Official Opposition," Carney said. "It is what it is."

Conservative Leader Pierre Poilievre, who represents an Alberta riding, said last week that he and the rest of his caucus will campaign for the province to remain in Canada.

This report by The Canadian Press was first published on May 25, 2026.

David Baxter, The Canadian Press

Apple has a happy Mac problem

 Apple has a happy Mac problem, and it’s bad news for shoppers out there

 

For weeks, the Mac mini has been in utterly short supply, with shipments even stretching into months for certain configurations. Why though? AI, and more especially, the rush to run AI agents such as OpenClaw. The situation with the $599 MacBook Neo has been no different. During its earnings calls, Apple confirmed that customer uptake of the cheap laptop has been off the charts. The situation is no different for the desktop Macs. “Realistically, on the Mac mini and the Mac Studio, I believe it will take several months to reach supply-demand balance,” outgoing chief Tim Cook told journalists on the call. The AI demand is not waning, so expect supplies to remain tight in the coming months. Samsung, one of the biggest memory chipmakers, says the supply issue will further worsen heading into 2027.

Graduating Students Cheer as Steve Wozniak Tell Them Human Intelligence Still Matter

Graduating Students Cheer as Steve Wozniak Tell Them Human Intelligence Still Matters

Futurism · an hour ago
by Frank Landymore · Artificial Intelligence


Steve Wozniak did what overpaid commencement speakers across the country have been failing to do: read the room.

While giving a speech at Grand Valley State University’s graduation ceremony earlier this month, the beloved Apple cofounder offered some uplifting remarks to the youngsters entering the job market, amid heaps of anxiety over how AI will upend the economy.

“We got AI today? You all have AI — actual intelligence,” Wozniak said, prompting the audience to erupt in cheers and laughter.

Wozniak went on to compare building AI to replicating the human brain — only this, too, was a subtle dig.

“I was at a company where the engineers figured out how to make a brain,” he continued, “Yeah, takes nine months.”

The Woz was striking a refreshingly different tone to other commencement speakers across the country, who’ve been learning the hard way that today’s youths don’t really like AI, and like being lectured about it even less.

When businesswoman Gloria Caulfield tried to extoll the technology last week, the boos from the University of Central Florida students were so overwhelming that she stopped her speech and helplessly remarked, “What happened?” Caulfield tried to segue with, “only a few years ago, AI was not a factor in our lives,” but then she was interrupted again — by vociferous cheers.

Unsurprisingly, Big Machine Records CEO Scott Borchetta won few hearts and minds when he scolded students at Middle Tennessee State University for not mindlessly embracing AI.

“Deal with it. Like I said, it’s a tool,” he proclaimed. When the boos grew louder, he taunted: “Then do something about it. It’s a tool. Make it work for you.”

Probably the most ruthless backlash was faced by former Google CEO Eric Schmidt. When he highlighted how Time magazine chose the “architects of AI” as its “Person of the Year,” he was immediately met with a roar of jeers during his commencement address at the University of Arizona, and it only got worse from there.

AI “will touch every profession, every classroom, every hospital, every laboratory, every person and every relationship you have,” Schmidt said, as more boos rang out. They grew even louder when Schmidt claimed he understood how the students were feeling, forcing him to pause.

Seriously, what was wrong with warming words or simple platitudes? Maybe these trend-obsessed dullards hopping on the AI bandwagon could learn a few things from the Woz.

“Your importance to the world,” he told the graduating students, “is really yourself. You should always try to think different.”

More on AI: Marc Andreessen Sputters Incomprehensibly at Question About How AI Will Actually Benefit Humankind

The post Graduating Students Cheer as Steve Wozniak Tell Them Human Intelligence Still Matters appeared first on Futurism.

AI is already interviewing job candidates

 

AI is already interviewing job candidates, and it’s an utter humiliation for them

 

A disturbingly high number of companies are now using AI tools to sift through resumes of job seekers. And if that was not enough, there’s a new trend where an AI also conducts interviews based on the queries fed to it by the hiring team. It’s already brutal out there in the job market, but the AI interviews are just worsening it. A new survey published in The Guardian says nearly half of applicants have been interviewed by AI, and the experience has been agonizing for multiple reasons. “I’m not even sure anybody watched the interview,” remarked one candidate, who was interviewed by an AI software and received a rejection email a week later. Some say it’s a humiliating ordeal. “I spoke in bullet points and keywords,” said another applicant, adding that they never talk like that in real life.

 

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Snowbirds grounded? Canada confirms PC-21 turboprop replacement for Tutor

Snowbirds grounded? Canada confirms PC-21 turboprop replacement for Tutor
Canada will retire the CT-114 Tutor after the 2026 airshow season, with the Snowbirds set to transition to the CT-157 Siskin II, based on the Pilatus PC-21, in the early 2030s.
Joanna Bailey

May 19, 2026
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Canada has confirmed plans to procure a new aircraft for their aerial display team, the Snowbirds, bringing an end to more than five decades of CT-114 Tutor operations.

Not only is it goodbye to the Tutor, but it’s also goodbye to the jet engine for the team. The new aircraft to be procured are turboprops.

Fear not, however, because the Pilatus PC-21, known as the CT-157 Siskin II in Canadian military service, is one of the most capable and jet-like turboprops in the world.Photo: Pilatus

However, with the new fleet not expected to become operational until the early 2030s and the Tutor retiring after the 2026 season, the Snowbirds now face a lengthy transition period.
The Pilatus PC-21 is picked for Canada’s Snowbirds

Announced on 19 May, David J. McGuinty, Minister of National Defence, revealed the intention to procure new aircraft for the display team. The timeline for deliveries is unclear, but he noted that the fleet will ultimately grow to nine aircraft.

The PC-21 is one of the world’s most advanced military training aircraft and is already operated by several air forces, including those of Australia, France and Spain. Designed to bridge the gap between basic trainers and front-line fast jets, it combines turboprop operating costs with handling characteristics intended to mimic modern fighters.Photo: Pilatus

Powered by a 1,600 shp Pratt & Whitney Canada PT6A engine, the aircraft can reach speeds of around 370 knots and is equipped with a fully digital glass cockpit, head-up display and embedded simulation systems. The type is primarily used for advanced pilot training, replacing older jet trainers in several countries.

For the Snowbirds, the move represents a major shift away from the jet-powered Canadair CT-114 Tutor, which has defined the team’s appearance and sound since 1971.
SpecificationPilatus PC-21Aircraft type Advanced turboprop trainer
Canadian designation CT-157 Siskin II
Manufacturer Pilatus Aircraft
Engine Pratt & Whitney Canada PT6A-68B turboprop
Power output 1,600 shp
Maximum speed 370 kt / 426 mph / 685 km/h
Maximum operating altitude 38,000 ft
Range Up to 1,333 km / 720 nm
Rate of climb Approx. 4,000 ft/min
G limits +8g / -4g
Crew Two, tandem seating
Key cockpit features Glass cockpit, HUD, HOTAS controls, embedded simulation systems


The PC-21 offers several advantages. It is significantly newer, safer and cheaper to operate than the ageing Tutors, while also providing better reliability and easier maintenance support.

Importantly, it is already in Canadian service as the Future Aircrew Training (FAcT) programme selected the PC-21 platform for pilot training, simplifying logistics and support.

The new fleet will be based at 15 Wing Moose Jaw, Saskatchewan, and is expected to become operational in the early 2030s. Canada said the Snowbirds will ultimately rebuild to their distinctive nine-aircraft formation.
Related: Is Canada trying to cancel the RCAF Snowbirds?Related: Is Canada trying to cancel the RCAF Snowbirds?
Canadian Snowbirds not cancelled, just temporarily paused

While Canada can look forward to safe, new aircraft for the Snowbirds, the demise of the Tutor will mark the end of an era for the display team.

Originally entering RCAF service as a jet trainer in 1963, it’s been flying for the Snowbirds since 1971. Over 55 years, the team has performed more than 2,700 air displays for more than 140 million people.

“2026 will mark the final air show season for the CT-114 Tutor aircraft prior to the fleet’s retirement,” the RCAF said.Photo: RCAF

The maths is difficult to ignore. With the Tutors retiring in 2026 and the replacement fleet not expected to become operational until the early 2030s, the Snowbirds appear set for a significant operational pause while the new team is rebuilt around the PC-21.

This isn’t so unusual; other demonstration teams have paused operations while transitioning to a different platform. The RCAF says it will support airshows and public engagement opportunities with other aircraft and personnel in the meantime.

For now, the Snowbirds are grounded. But far from being cancelled, Canada has just assured their future for many years to come.

US gov’t bonds plummet amid inflation concerns

  US gov’t bonds plummet amid inflation concerns

Douglas Rissing/Getty Images

On Wednesdays, the Brew’s Sam Klebanov highlights a fascinating stock, commodity, or other asset that’s worth your attention. Investors are dumping IOUs from Uncle Sam. Government bond prices fell this week, pushing 30-year yields—which move in the opposite direction to prices—to 5.19% yesterday, the highest level since July 2007. Everyone is worried about inflation accelerating: Analysts say the risk of prices rising faster due to a prolonged Strait of Hormuz closure has investors expecting that the Fed won’t lower borrowing costs this year, which makes the current bonds that offer lower interest look as appealing as a hot tub in July. The market went from anticipating three rate cuts this year to now a rate hike. Growing government debt further cheapens federal bonds. The US national debt for last year’s Q4 was 122% of GDP, up from 105% during the same period in 2019. This affects you even if you’re not a bond trader. Rising government bond yields can translate to higher mortgage rates and more expensive auto loans.

SpaceX shows its finances and future in IPO filing

 SpaceX shows its finances and future in IPO filing

SpaceX Falcon Heavy launch on April 29. Nurphoto/Getty Images

SpaceX filed its first comprehensive prospectus yesterday with the Securities and Exchange Commission, giving investors a peek at its finances, as it prepares to list on the Nasdaq exchange under the ticker SPCX. The company aims to raise up to $80 billion at a valuation that could reach $2 trillion. It’s expected to surpass Saudi Aramco for the title of largest IPO in history. Elon Musk, SpaceX’s CEO, CTO, and chairman, will hold 85% of the company’s voting control. The listing will likely propel Musk to become the world’s first trillionaire. So, how’s business? SpaceX reported a net loss of $4.3 billion for Q1 2026, despite taking in $4.69 billion in revenue. The company breaks its business down into three units: Space (rockets), Connectivity (Starlink satellite internet), and AI (xAI, the Grok chatbot, Colossus data centers). The Connectivity unit made $1.19 billion in the first quarter. By comparison, the Space unit lost $619 million, and the AI unit lost $2.5 billion. Here are some other interesting factoids revealed by the filing: For the 1 billion performance-based restricted shares that Musk received in January to vest, the company must establish a permanent human colony on Mars with at least 1 million inhabitants, “subject to Mr. Musk’s continued employment with us through the date on which achievement is certified by our board.” SpaceX stock will be available to retail traders upon its debut via Robinhood, Schwab, Fidelity, E*Trade, and SoFi. Most appropriate company ever for hodlers to send to the moon? The company spent $15 billion developing its updated version of the Starship megarocket. SpaceX called the creation of trillion-dollar market opportunities one aspect of its “repeatable business model.” It sees a total addressable market of $28.5 trillion. Zoom out: SpaceX’s IPO is likely to be the first of three massive public offerings this year, followed by OpenAI and Anthropic. But Musk won’t be done with big business deals—Wedbush analyst Dan Ives predicts that SpaceX and Tesla will merge in 2027.

The biggest midterm donor (so far) is not a person

  The biggest midterm donor (so far) is not a person

Morning Brew Inc., Photos: Getty Images

It’s a venture capital firm. Andreessen Horowitz, one of the largest VCs in the world, and its billionaire founders have dumped $115.5 million into this year’s midterm election cycle, surpassing the contributions of individual billionaire donors including Elon Musk and George Soros, the New York Times reported yesterday. According to the NYT’s analysis, since Election Day 2024: Andreessen Horowitz has given $47.5 million to Fairshake, a super PAC network that supports crypto-friendly candidates on both sides of the aisle. The firm has also donated $50 million to Leading the Future, another super PAC that similarly backs AI-friendly Democrats or Republicans. Marc Andreessen, Ben Horowitz, and their eponymous firm have collectively given $12 million to President Trump’s super PAC, MAGA Inc. That includes $6 million in March—around the time that Andreessen was appointed to a White House tech council. Why this matters: Individual venture capitalists have pretty much always whipped out their checkbooks during election cycles, but firms themselves typically stayed out of political fundraising. The tides changed in late 2023, when Andreessen and Horowitz said their firm would start backing politicians who were committed to “advancing technology.” Elsewhere in Silicon Valley…AI lobbying is also heating up. Meta, Nvidia, and Alphabet collectively spent nearly $50 million to sway federal lawmakers last year, up 22% from 2024.

In last Late Show, Colbert pulled out the stops

 In the last Late Show, Colbert pulled out the stops and turned off the lights. After a 33-year run and 11 years with Stephen Colbert at the helm, CBS’s The Late Show played the Ed Sullivan Theatre in NYC a final time last night. In his opening, Colbert expressed gratitude for the 1,800 episodes he hosted, saying, “We call it the joy machine, because to do this many shows, it has to be a machine. But the thing is, if you choose to do it with joy, it doesn’t hurt as much when your fingers get caught in the gears.” A stream of notable figures appeared, including Bryan Cranston, Jon Stewart, Tig Notaro, Ryan Reynolds, and Neil deGrasse Tyson. Colbert’s final guest was not Pope Leo, but Paul McCartney, who made his American TV debut with the Beatles at the same theatre in 1964. McCartney ended the show by singing “Hello, Goodbye” with Colbert and former Late Show band leader Jon Batiste contributing backup vocals, before McCartney and Colbert turned off the lights together.

Swiftsure Yacht Race - Saturday 23

Swiftsure sends fleet of sailboats across Victoria’s seaside vista

Published 9:00 am Thursday, May 21, 2026


By Christine van Reeuwyk







A group of yachts cruise by as their sails catch the wind at the start of the 2023 Swiftsure International Yacht Race off Clover Point in Victoria. (Justin Samanski-Langille/Victoria News file)


Swiftsure returns to Victoria waters this weekend, and residents and visitors are invited to join the excitement around the Inner Harbour, Clover Point, Ship Point, and Ogden Point.

The 81st running of the Royal Victoria Yacht Club’s Swiftsure Yacht Race is the largest of its kind on the west coast of North America, and this year, it is expected to see 100 participants.

The fun kicks off Thursday (May 21) with visits to the Inner Harbour causeway docks where folks can greet arriving boats and query the skippers and crew.



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By Friday, all boats are anticipated to arrive, with guests welcome to walk the docs until 8 p.m. with a live band helping make a festive evening.

Saturday morning features a pancake breakfast hosted by the Central Saanich Lions Club starting at 8 a.m. at Clover Point – the best location to watch the six race starts from shore. Spectators can get a great view of the boats maneuvering for the start of the races at 9 a.m.

Those looking to enjoy the show are asked to consider arriving by foot, by bicycle, or by public transit, where possible, with a reminder vehicles may not access the Clover Point loop.





The event includes video from the live broadcast, with Swiftsure commentators explaining the race, start procedures, and tactics.

Swiftsure Inshore Races finish Saturday afternoon in Cadboro Bay and dock at the Royal Victoria Yacht Club in Oak Bay.

The best view of race boats finishing is from the end of the Ogden Point breakwater from late Saturday evening until the race finishes at midnight on Sunday (May 24).

Baseball fans are testing stadiums’ spaghetti policies

 Baseball fans are testing stadiums’ spaghetti policies

Nick Iluzada

The online world can be a beautiful yet confusing series of tubes. On Thursdays, the Brew’s Molly Liebergall untangles them for you. In the latest reminder that free will exists, a group of Milwaukee Brewers fans recently went viral for enjoying a full pasta dinner they brought from home, complete with garlic bread, while watching their team demolish the Arizona Diamondbacks. No sneaking necessary: The Brewers’ home stadium allows attendees to carry gallon-sized clear bags, so the spaghetti crew trusted that security would have no problem with their Ziploc-ed feast. Taking inspiration from this stunt, sports aficionados from a college football fan community called the Sickos Committee have taken it upon themselves to figure out every MLB team’s spaghetti policy (hat tip to It’s Always Sunny in Philadelphia). They found that most stadiums will probably let you get away with it and bypass sky-high concession prices, as long as the food is in a clear bag. All that to say, don’t take me out to the ballgame unless you’re bringing meatballs.

Colbert’s 11-year Late Show run ends tonight

  Colbert’s 11-year Late Show run ends tonight

Scott Kowalchyk/CBS

Lord of the Rings and Neutral Milk Hotel enthusiast Stephen Colbert will host The Late Show for the final time tonight, ending an 11-year run at CBS after the network canceled the show for what it said were “purely financial” reasons. But many—including Colbert—believe the cancellation came at the behest of President Trump, a frequent target of the comedian’s jokes and ridicule. The top-rated late-night show was informed of its fate last summer, shortly after CBS parent company Paramount settled a $20 billion lawsuit with Trump over its editing of a 60 Minutes interview with then-Democratic presidential candidate Kamala Harris. Colbert called the settlement a “big fat bribe.” Not long after, the FCC approved the Paramount-Skydance merger. The future of late night: Network TV viewership has been down for everyone in the last decade, as younger audiences gravitate away from appointment TV viewing and toward online clips—something that networks have a hard time monetizing. What’s next for Colbert? He is scripting a Lord of the Rings film for Warner Bros., a dream project for the longtime Tolkien nerd. He said he has no plans to get into politics, despite a mild endorsement from former President Barack Obama.

When athletes trade sports dreams for regular jobs

 When athletes trade sports dreams for regular jobs

Cathrin Mueller/Getty Images

Most retired athletes do not become coaches or broadcasters. Many more trade in their uniforms for J. Crew button-downs and Patagonia sweater vests, so they can take the jobs that the rest of us would quit today if we could become professional athletes. The length of an average professional sports career in the MLB, NBA, NHL, and NFL is only five to seven years, with most calling it quits before age 30, according to a study by the RBC Sports Professionals group. That means linebackers, pitchers, and goalies are either scouring LinkedIn job listings or—if their careers were longer and more fruitful—launching their own businesses: LinkedIn data from 2022 showed that more than a quarter of retired athletes pivoted to sales, where traits like competitiveness and self-drive tend to translate well. Finance is also a popular second act—Goldman Sachs has made recruiting athletes a priority. Former New York Giants player Justin Tuck has been with the company since 2018. Others become the boss After years of taking orders from coaches, some ex-players decide it’s their turn to start bossing people around. Some of the notable success stories include: George Foreman: Perhaps the most memorable of them all, there’s an entire generation that knows him more for his grills than his boxing accolades. Shaquille O’Neal: It seems like he’s in every third commercial that comes across your TV screen. After investing in Papa Johns and Five Guys, he started a fast-casual chain called Big Chicken, opened a slate of car washes, and more. Magic Johnson: The former basketball star and one-time talk show host built a multibillion-dollar investment firm and holds ownership stakes in multiple pro sports franchises. Michael Jordan: Among other notable high-value business ventures, he was the majority owner of the NBA’s Charlotte Hornets before selling his stake in 2023 at a $3 billion valuation (he bought it for $275 million in 2010). However…many other former athletes who start businesses struggle. MLB pitcher Curt Schilling’s video game company, outfielder Lenny Dykstra’s financial advice magazine, and quarterback Mark Brunell’s real estate business are among those that serve as cautionary tales.

Is grad school actually worth it?

 Is grad school actually worth it?

William H. Kelly III/Getty Images

Economic downturns or uncertainty have historically pushed adults back to school to wait out the rocky hiring market and come out the other side with new, irresistible skills. But do you get a return on your investment? A study released last month by the Postsecondary Education & Economics Research Center at American University found that while some classic postsecondary degrees, like pharmacy, law, and medicine, offer high returns on investment, fields like psychology and social work often yield negative returns. Ballooning tuition costs and skyrocketing interest rates on loans—up to 9.08% for the 2024–2025 school year—have made grad school even more of a gamble. There are other reasons to go to grad school besides the potential for a higher salary, like networking, earning certifications, and getting another diploma to hang next to a Pulp Fiction poster. Plus, some MBA programs are offering steep discounts for prospective students. One career path that pays: Registered nurses are locking in an average salary of $93,600 a year, according to the Labor Department. The healthcare sector created the most jobs in the US last year, and employment of advanced-degree nurses is expected to jump 35% from 2024 to 2034.