Good morning. It’s Thursday, May 8 — and spring is showing off. The sun’s out, and every park bench in America has become a runway for linen pants and iced lattes.

Somewhere in the background, Memorial Day is slowly approaching — the unofficial start of summer, when America collectively remembers how to grill things. Group chats are heating up with chaotic barbecue plans, and the phrase “What should I bring?” is about to haunt everyone’s inbox.

But right now, it’s Thursday. The weekend is flirting from two days away. So stretch out, sip something cold, and let today’s newsletter do the heavy lifting.

Today’s stories:

• Malta debuts legal drone-launched fireworks

• Spy chief reused weak passwords for years

• DoorDash buys Deliveroo in $4B power play

• Disney streaming finally turns real profit

• Skype officially shut down after 21 years

• Saudi lasers guide lost hikers to water

• Fed holds rates, Trump demands cuts

• FTC bans hidden fees starting May 12

• Recraft’s AI beats DALL·E, raises $30M

• Disney parks in Abu Dhabi, Miral pay

• Rite Aid closes all NY stores

  and more…

Stocks ended higher Wednesday after the Fed hit pause on rate hikes and basically said, let’s just see what happens. Chair Jerome Powell admitted trade drama still clouds the forecast but reassured everyone the economy hasn’t gone off the rails — yet. “We can afford to be patient,” he said. Translation: no sudden moves.

Markets initially cheered on U.S.-China trade talks, dipped on Fed warnings about rising inflation and unemployment risks, and then bounced back. The S&P 500 rose 0.4%, Nasdaq gained 0.3% despite a 7% drop in Alphabet, and the Dow surged 0.7% thanks to a 10% jump in Disney stock.

Wall Street, like Powell, is clearly betting patience pays.

_____

DoorDash Expands to Europe

DoorDash is buying Deliveroo for nearly $4 billion, because apparently the fastest way to win Europe’s delivery game is to just buy the competition. Deliveroo — once a pandemic-era golden child — has been stumbling ever since its IPO faceplanted in 2021. Back then, shares debuted at 390 pence. Now DoorDash is paying just 180. That’s not a discount, that’s a clearance rack. Most of Deliveroo’s business comes from the UK and Ireland, with leftovers in France and Italy. DoorDash is eyeing all of it, hoping this move helps it claw market share from Uber Eats and Just Eat. The final offer’s locked in. Unless someone else shows up with a better bid, this is Deliveroo’s last ride.

_____

Disney goes to Abu Dhabi (but not with its own money). Disney is getting a new theme park and resort in Abu Dhabi — but it’s not paying for it. The company struck a deal with UAE developer Miral to build the whole thing on Yas Island. Disney will slap its name on it, send over a few imagineers to make it sparkle, and sit back collecting royalties. This will be Disney’s seventh theme park resort, fully bankrolled by Miral while Disney focuses its $60 billion theme park budget elsewhere. Translation: Abu Dhabi gets the castle, Disney gets the check, and nobody at HQ has to lift a shovel.

Hidden fees now officially illegal. Starting May 12, the FTC is officially banning hidden fees for live events and short-term rentals. No more surprise “processing,” “convenience,” or “because-we-can” charges tacked on at checkout. The new rule forces ticket sellers, hotels, Airbnb, VRBO, and travel sites to show the full price up front — not after you’ve emotionally committed to the concert or the weekend getaway. The final price has to be the biggest number on the page, not buried in a dropdown or hiding behind vague labels.

Powell holds rates, Trump holds grudges. Fed Chair Jerome Powell isn’t cutting interest rates this week, but give it time. The economy’s caught in a Trump-induced spiral of tariffs that slow growth and raise prices — a combo the Fed is wildly unequipped to juggle. Trump is playing the blame game. He’s already dubbed Powell “Mr. Too Late” and demanded “preemptive cuts” on Truth Social, setting the stage to either take credit or torch Powell, depending on how things shake out. For now, the Fed’s holding steady. But if unemployment ticks up, expect Powell to start trimming rates — and Trump to start gloating like it was his idea all along. Either way, Powell’s stuck between inflation, a trade war, and a president with a keyboard addiction.

Disney+ and Hulu are finally making real money. Disney’s streaming empire is finally turning a profit that actually matters. In Q2, Disney+ and Hulu raked in $336 million in operating income — a massive glow-up from last year’s measly $47 million. Add in ESPN+ and the whole streaming division is officially in the black, joining the cool kids like Netflix, Max, and Paramount+ who’ve stopped bleeding cash and started acting like grown-ups. Disney+ also added 1 million new subscribers in the US and Canada, bringing the total to 57.8 million. The boost comes right after Disney hiked prices and started charging people extra to mooch off their cousin’s login.

America’s Spy Chief Reused a Weak Password Like It Was 2009

Tulsi Gabbard, now the U.S. director of national intelligence, spent years recycling the same flimsy password across multiple personal accounts — including Gmail, Dropbox, LinkedIn, and even MyFitnessPal. According to leaked combolists reviewed by WIRED, the password popped up again and again between 2012 and 2019, tied to email addresses linked to her personal website and other platforms. There’s no sign she used it for official government logins — which is somehow the good news here. Gabbard, who once sat on intelligence and foreign affairs committees in Congress, now leads the nation’s spy apparatus. And yes, she apparently locked down sensitive data about as securely as a teenager’s Tumblr account.

_____

A mystery AI model beat DALL·E. Recraft, a San Francisco startup no one saw coming, just raised $30 million after its image model “red_panda” quietly outperformed DALL·E and Midjourney on a key industry benchmark. Investors like Accel, Khosla Ventures, and Madrona are all in. The model, originally named after the adorable animal it kept generating, isn’t just about pretty pictures. It nails brand visuals — placing logos, generating brochures, and churning out marketing assets without needing Photoshop cleanup. Midjourney can do vibes. Recraft does deliverables. The company has hit $5 million in annual revenue and pulled in 4 million users. It’s now squaring off with not just image generators like Adobe Firefly and Stable Diffusion, but also design platforms like Canva.

Skype hangs up for good. After 21 years of pixelated calls, frozen faces, and shouting “Can you hear me?” into the void, Microsoft has finally pulled the plug on Skype. Once the undisputed king of online calls — with 300 million users at its peak — Skype is now just another ghost of the pre-Zoom internet. It connected long-distance lovers, awkward job interviews, and every relative who refused to text. Thanks for the dropped calls, Skype. You tried.

Saudi Arabia is shooting lasers into the desert to save lost hikers. Saudi Arabia is firing solar-powered laser beams into the night sky — not for drama, but to help lost travelers find water before it’s too late. After watching too many people die just meters from life-saving resources, explorer and activist Mohammad Fohaid Al-Rammali launched a high-tech fix: desert rescue lasers. These beacons are placed near water sources and blast visible light across the barren Nafud landscape, helping dehydrated wanderers see what GPS and instincts couldn’t. They’re powered by sunlight, need almost no upkeep, and, unlike most desert rescue plans, actually work.

Use AI as Your Personal Assistant’

Ready to save precious time and let AI do the heavy lifting?

Save time and simplify your unique workflow with HubSpot’s highly anticipated AI Playbook—your guide to smarter processes and effortless productivity.

Download the free guide today.

Malta Becomes First in Europe to Strap Fireworks to Drones

Malta just made history — not for peace talks or policy innovation, but for legally strapping explosives to flying robots. That’s right. During the International Fireworks Festival, 550 drones lit up the sky with a choreographed mid-air detonation party, officially making Malta the first European country to greenlight drone-launched fireworks.

_____

Rite Aid is officially done in New York. Rite Aid is closing the last of its New York stores after filing for bankruptcy again — the second time in two years. The struggling chain still had 178 stores limping along in the state, but that’s about to be zero. The company says it’s entering Chapter 11 and looking for someone — anyone — to buy what’s left. Distribution centers are shutting down, stores are closing, and whatever remains might end up under new ownership, if there's a buyer desperate enough.

15 Met Gala fits worth the fundraiser. The Met Gala went full drama this year with the theme “Tailored For You” — which somehow meant pastel suits, skirt suits, and, for André 3000, a full piano strapped to his back. Zendaya slayed. Diana Ross reminded everyone she invented glamour. Jon Batiste brought a sax because... why not. Amid the chaos, the Costume Institute raised record cash and opened “Superfine: Tailoring Black Style,” honoring Black dandyism. Check out the 15 unforgettable looks that actually nailed the assignment.

_____

TikTok of the day: watch here