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    Is Trump Unveiling a Crypto Wallet? His Associates Say Yes. His Sons Say No.

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    The back-and-forth over a potential Trump cryptocurrency wallet on Tuesday exposed rifts among the family’s web of digital currency ventures.A flashy new website drew a surge of attention on Tuesday afternoon, purporting to announce the latest cryptocurrency venture backed by President Trump.The developers of Mr. Trump’s memecoin, the website said, were working with a company called Magic Eden to launch “the Official $TRUMP Wallet” — a trading app for customers to buy and sell digital currencies.But the announcement soon triggered a backlash from an unexpected source: Mr. Trump’s sons.Donald Trump Jr. wrote on X that the Trump family business had no connection to the new crypto product. His brother Eric Trump said he knew “nothing about” it. And in a rare social media post, Barron Trump, the youngest Trump son, said that “our family has zero involvement.”The sons’ reaction to the announcement appeared to expose a rift in Mr. Trump’s ever-expanding network of crypto ventures, a complex web of businesses run by various family members and associates who now appear to be competing against each other.On one side is Bill Zanker, a longtime Trump business partner and the architect of the president’s memecoin, a type of cryptocurrency usually based on an online joke, which Mr. Trump began promoting shortly before his inauguration in January. On the other are Mr. Trump’s sons, who helped found World Liberty Financial, a separate crypto business that markets its own digital currency, which has generated $550 million in sales.In a series of text messages to The New York Times, Eric Trump escalated the dispute on Tuesday, saying the Trump family would legally challenge the creation of the “Official $TRUMP Wallet” — even though it was being promoted on social media by an account linked to Mr. Zanker.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      The Ditch Weekly, a Teen-Run Newspaper, Reports on the Hamptons From a Different Angle

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      On a Saturday morning in May, five hard-nosed reporters filed into an office on the South Fork of Long Island and picked up their red pens.For two hours, they combed through the drafts in front of them. Clunky sentences were tightened. Inelegant adjectives were cut. Powdered doughnut holes were eaten, and mini bags of Cheez-Its, too.This was the final proofreading session for an issue of The Ditch Weekly, a seasonal newspaper about Montauk that is written and edited by locals ages 13 to 17. Its staffers had gathered to put the finishing touches on their first paper of the year, which would be published over Memorial Day weekend.Billy Stern, the paper’s 15-year-old top editor, kept tabs on their progress in a planning document on his laptop. According to his color-coding system, reporters had already filed articles about nearby summer camps and the construction of a new hospital on the grounds of a former baseball field.He turned to Teddy Rattray, 15, the paper’s most prolific columnist and Billy’s friend since Little League, to float ideas for a restaurant review.“We still haven’t done hot dogs,” Teddy said. Billy agreed: Hot dogs should be an editorial priority.The operation has grown slicker since the boys got into the news business last year, as eighth graders at East Hampton Middle School. Billy had been looking for a summer job that was more stimulating than his usual gig squeezing lemons at a food truck. He enlisted Teddy and Teddy’s cousin Ellis Rattray to put together an eight-page paper exploring Montauk from a teenager’s perspective.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      Are U.S. Tariffs Affecting Your Business? We Want to Hear From You.

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      The New York Times wants to hear from European business owners about how they are navigating the uncertainty of President Trump’s tariffs.President Trump’s trade war has created chaos for companies around the world, snarling supply chains, sowing uncertainty and muddling their ability to plan for the future.After announcing tariffs that started at 20 percent for nearly all imports from European Union members — and more on other countries — the president has scaled the rate to 10 percent until July, saying his administration will use the time to negotiate bilateral deals with America’s trading partners. At the same time, Mr. Trump has escalated a trade war with China, potentially squeezing European companies.We are a team of reporters who write about business and economic issues in Europe for The New York Times. In recent weeks, we have covered how tariffs have been affecting the car industry, financial markets and economic expectations for European countries.To better understand the impact the tariffs are having on companies in Europe, including Britain, we would like to hear from business owners, entrepreneurs, managers and employees. How might the import taxes affect your company or job? Have you delayed hiring, postponed expansion plans or canceled orders? Have you altered your supply chains? We would also like to hear what tariffs mean for your production, and whether you are considering moving some part of it to the United States.We will read every response and reach out if we are interested in learning more. We won’t publish any part of your response without contacting you first and obtaining your consent. Your contact information will not be shared outside The Times newsroom and we will use it only to get in touch with you. More

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      Uncertainty Over Trump’s Tariffs Paralyzes U.S. Businesses

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      Three months ago, things were looking pretty good for Tim Fulton and Ramper Innovations, a manufacturer of airplane equipment based in Sitka, Alaska.Mr. Fulton was spending his days inside his workshop doing what he loved: building the company’s main product — a fold-up conveyor belt that unfurls in the belly of a plane to load and unload cargo or luggage. He had an order from the U.S. Air Force that he was confident would serve as a catalyst and bring in new customers from Asia and the Middle East while luring potential investors.Then, the tariffs from President Trump struck.The New York Times heard from Mr. Fulton and hundreds of other American business owners who said they have been stunned into paralysis by Mr. Trump’s barrage of tariffs. They are reassessing their product lines and supply chains and even putting their operations on hold.Mr. Fulton, 66, was floored at the size of the tariffs and how quickly and chaotically they were applied. There were tariffs on Mexico and Canada and steel and aluminum. Mr. Trump hit dozens of countries with higher “reciprocal” tariffs he then put on hold when financial markets crashed. China struck back and the import tariff on Chinese goods ratcheted up to 145 percent.Even though Ramper makes its products in the United States and buys as much of its components as possible from American companies, there is no getting around the tariffs. Some essential parts, such as motorized and static rollers from Japan, are only available overseas. The raw materials needed to build other critical parts are also imported. Most of Ramper’s U.S. suppliers rely on imports for some part of their supply chain.Ramper raised its price 17 percent — a ballpark estimate for how much the tariffs would inflate its costs. Mr. Fulton also warned prospective customers that he may need to increase his price further if tariffs pushed his costs up by more than 5 percent. Prospective customers balked at the higher prices and the uncertainty of what the final price might be.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      Junior Bridgeman, N.B.A. Player Turned Mogul, Dies at 71

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      He became an entrepreneur during a solid career with the Milwaukee Bucks. He later bought hundreds of fast-food outlets, a Coca-Cola bottling business and Ebony and Jet magazines.Junior Bridgeman, who followed a strong N.B.A. career with a remarkable run as an entrepreneur, acquiring hundreds of fast-food restaurants, a Coca-Cola bottling business and a minority stake in the Milwaukee Bucks, his team for a decade, died on Tuesday in Louisville, Ky. He was 71.The cause was a cardiac event, a family spokesman said. Mr. Bridgeman had been talking to a reporter for a local television station during a charity event at the Galt House Hotel when he said he felt that he was having a heart attack, the spokesman said, and he was taken to a hospital, where he died.Mr. Bridgeman’s business success brought him a net worth of $1.4 billion this year, Forbes magazine said, putting him in “rare air alongside Michael Jordan, Magic Johnson and LeBron James as the only N.B.A. players with 10-figure fortunes.”Mr. Johnson, writing on X after the death, recalled that Mr. Bridgeman, a former small forward, had “one of the sweetest jump shots in the N.B.A.” Mr. Bridgeman, he added, had helped create a blueprint for “so many current and former athletes across sports that success doesn’t end when you’re done playing.”Mr. Bridgeman was not a major star during his 12 seasons in the N.B.A., 10 with the Bucks and two with the Los Angeles Clippers. But he stood out as a sixth man who provided a scoring boost off the bench for a Milwaukee team that largely excelled under Coach Don Nelson. From 1975 to 1987, Mr. Bridgeman averaged 13.6 points a game.Mr. Bridgeman on the bench during a game between the Milwaukee Bucks and the Washington Bullets in the early 1980s. He played for the Bucks for a decade.Focus on Sport/Getty ImagesWe are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      The Future of News Looks Niche

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      The media entrepreneur Jessica Lessin chats with DealBook about the news landscape and her latest media bet.In 2013, Jessica Lessin, a reporter at The Wall Street Journal, left the paper to start a competing publication, The Information.A few years later, her fledgling newsroom had grown to nearly two dozen reporters and editors and booked more than $20 million in sales, as she revealed in a profile I wrote for The Times’s Sunday Business. She says she has since doubled her editorial staff and continued to stay profitable, with revenue growing 30 percent in 2024 over the previous year.But it’s her investments outside of The Information that are gaining attention these days.Her company Lessin Media has put money into Semafor, The Ankler, the former Business Insider editor Nicholas Carlson’s Dynamo, Kevin Delaney’s Charter Works and other titles at a time when the news business appears bleaker than before. Lessin, however, is optimistic.I caught up with the entrepreneur about her latest media bet, the tennis publication Racquet magazine, and what she thinks about the changing news landscape. This interview has been edited and condensed.This investment seems different from your others. How did you come to it?I actually got introduced to Racquet by a number of fans of the magazine. And it was like the weirdest experience, because I was reading the magazine, and then I wanted to buy, like, all the clothes in the magazine. I went to the website, and I wanted to buy all the merch. And they’re hosting an event at the U.S. Open. And I was like I want to go to that. And I want to read this great profile about the mental coach behind the world No. 1 tennis player.This sounds like it was something that just struck you personally. I assumed you’d be more focused on sales and market size and margin.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      A.I. Is Changing How Silicon Valley Builds Start-Ups

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      Tech start-ups typically raised huge sums to hire armies of workers and grow fast. Now artificial intelligence tools are making workers more productive and spurring tales of “tiny team” success.Almost every day, Grant Lee, a Silicon Valley entrepreneur, hears from investors who try to persuade him to take their money. Some have even sent him and his co-founders personalized gift baskets.Mr. Lee, 41, would normally be flattered. In the past, a fast-growing start-up like Gamma, the artificial intelligence start-up he helped establish in 2020, would have constantly looked out for more funding.But like many young start-ups in Silicon Valley today, Gamma is pursuing a different strategy. It is using artificial intelligence tools to increase its employees’ productivity in everything from customer service and marketing to coding and customer research.That means Gamma, which makes software that lets people create presentations and websites, has no need for more cash, Mr. Lee said. His company has hired only 28 people to get “tens of millions” in annual recurring revenue and nearly 50 million users. Gamma is also profitable.“If we were from the generation before, we would easily be at 200 employees,” Mr. Lee said. “We get a chance to rethink that, basically rewrite the playbook.”The old Silicon Valley model dictated that start-ups should raise a huge sum of money from venture capital investors and spend it hiring an army of employees to scale up fast. Profits would come much later. Until then, head count and fund-raising were badges of honor among founders, who philosophized that bigger was better.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      HP to Buy Humane, Maker of the Ai Pin, for $116 Million

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      Humane, which marketed its Ai Pin as the next big thing after smartphones, had raised $240 million from investors, including OpenAI’s Sam Altman. The pin will be discontinued.Humane, the ambitious start-up behind the Ai Pin device that aimed to one day replace smartphones, agreed to sell parts of its business to HP for $116 million, the companies said on Tuesday.HP said it planned to acquire Humane’s “A.I. capabilities,” including its software platform, intellectual property, patents and some employees. The Ai Pin will be shut down, Humane said in a message to customers.The deal caps a downfall for the high-flying start-up, which heavily promoted the $699 pin with ads, a TED Talk and at Paris Fashion Week with supermodels. Humane raised $240 million in funding from high-profile investors, including Marc Benioff, the chief executive of Salesforce, and his counterpart at OpenAI, Sam Altman, valuing the company at $850 million before it released a product.Humane was created by Imran Chaudhri and Bethany Bongiorno, husband-and-wife founders who previously worked at Apple. The pair envisioned a wearable device that people would clip to their clothes and interact with using voice commands and a laser display projected onto their hand. The idea was to cut down on time spent staring at smartphone screens.Bethany Bongiorno and Imran Chaudhri at Humane’s office in San Francisco in 2023.Kelsey McClellan for The New York TimesBut the Ai Pin, which began shipping to customers last spring, was a flop.Reviewers criticized the product, with the A.I. software often giving wrong answers or taking a long time to respond, while the pin’s batteries sometimes overheated. Humane had hoped to sell 100,000 pins in its first year but got only around 10,000 orders. At one point, the company told customers to stop using their charging cases because of the fire risk.Last year, Humane hired an investment bank to sell itself, while also seeking new funding. The start-up sought a sale price of more than $1 billion.On Tuesday, a letter posted to Humane’s website said that the pins would no longer work at the end of this month and that customer data would be deleted. “Our business priorities have shifted,” the letter said.HP, which sells an estimated 53 million PCs a year, has said it wants to add A.I. capabilities to its laptops to make them more useful. Last year, HP worked with Microsoft to develop a line of A.I. computers called Copilot+ PCs.In its announcement, HP said it would use Humane’s technology to become a more “experience-led company.” Humane’s workers will be part of a new innovation lab called HP IQ, which will focus on “building an intelligent ecosystem across HP’s products and services.” Mr. Chaudhri and Ms. Bongiorno will join the company, as will the majority of the start-up’s employees, an HP spokeswoman said.“We are investing and innovating aggressively in new A.I.-powered capabilities and software,” said Enrique Lores, president and chief executive of HP, during a call with analysts in November. “We will focus on delivering a cutting-edge A.I.-powered tech.” More

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      They’ve Been Waiting Years to Go Public. They’re Still Waiting.

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      Some tech companies are delaying or pulling their listing plans as the Trump administration’s tariff announcements and other changes cause market volatility and uncertainty.Turo, a car rental start-up in San Francisco, has been trying to go public since 2021. But a volatile stock market in early 2022 delayed its listing. Since then, the company has waited for the right moment.Last week, Turo pulled its listing entirely. “Now is not the right time,” Andre Haddad, the company’s chief executive, said in a statement.For months, investors have eagerly anticipated a wave of initial public offerings, spurred by President Trump’s new administration. Since his election victory in November, which ended a tumultuous campaign season, Corporate America and Wall Street have heralded the start of a pro-business, anti-regulation period. The stock market soared ahead of an expected bonanza of deal making.But the administration’s tariff announcements and rapid-fire regulatory changes have created uncertainty and volatility. Worsening inflation has set off market jitters. And the emergence of the Chinese artificial intelligence app DeepSeek last month caused investors to question their optimistic bets on U.S. tech, leading to a drastic sell-off among A.I.-related stocks.All that has affected initial public offerings. “The calendar just went from fully booked to being wide open in a span of like three weeks,” said Phil Haslett, a founder of EquityZen, a site that helps private companies and their employees sell their stock.So far this year, the pace of public offerings is ahead of last year’s, with companies raising $6.6 billion from listings, up 14 percent compared with this time last year, according to Renaissance Capital, which manages I.P.O.-focused exchange traded funds.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More