• April 26, 2025

☕ No radio, no power windows

A bare-bones $20k EV truck is coming…

Good morning. Pope Francis’s funeral began at 4am ET this morning at St. Peter’s Square in Vatican City. More than 200,000 people are expected to attend the ceremony, including dozens of world leaders such as President Trump, Javier Milei of Argentina (where Francis was from), and Ukrainian President Volodymyr Zelensky.

Francis had some specific requests about his burial. He will be entombed in Rome, becoming the first pope since 1903 to be buried outside of Vatican City. And in his will, he directed that his tomb be “in the ground; simple, without particular decoration, and with the sole inscription: Franciscus.”

—Sam Klebanov, Dave Lozo, Matty Merritt, Abby Rubenstein, Neal Freyman

MARKETS

Nasdaq

17,382.94

+1.26%

S&P

5,525.21

+0.74%

Dow

40,113.50

+0.05%

10-Year

4.266%

-4.0 bps

Bitcoin

$95,038.88

+1.58%

Tesla

$284.95

+9.80%

Data is provided by

*Stock data as of market close, cryptocurrency data as of 5:00pm ET. Here’s what these numbers mean.

  • Markets: Stocks kept the good times rolling yesterday, clinching a four-day winning streak and a weekly gain for the S&P 500, as investors continue to hope for trade deals to keep tariffs at bay. Tesla was at the forefront of a tech rally after the US made moves to loosen regulations around self-driving cars.
 

AUTO

Slate truck

Slate Auto

The secretive startup Slate Auto, reportedly backed in part by Jeff Bezos, unveiled what has been described as the flip phone of electric cars this week. Its no-frills Slate electric pickup truck will cost as little as $20,000 if the federal EV tax credit is still in place when the Michigan-based company plans to start shipping it in late 2026.

Slate is betting on a bare-bones design and is focusing on releasing just one model to cut the manufacturing costs of what it intends to be the cheapest EV for sale in the US. Slate says it plans to manufacture the trucks in Indiana, per TechCrunch, allowing it to avoid auto tariffs and further lower costs. But it will also offer customers options to cook up their own customized truck according to their budget and preferences.

What $20k buys (and doesn’t)

The base version of the petite truck—which the EV-maker calls the Blank Slate—has minimal features:

  • It won’t include a radio, power windows, speakers, or an infotainment display. And it won’t have a paint job, offering wrap options instead.
  • But buyers can add over 100 accessories, like power windows or a modular roof that transforms it from a two-seat pickup with a bed into a five-seater SUV. Installation can be done either as a DIY project or by professionals at Slate’s (not-yet-existent) service centers.
  • The truck’s 150-mile range makes it best suited for city cruising, though there’s an option to upgrade to a more powerful battery pack that provides 240 miles of range on a single charge.

Humble alternative

Slate strives to differentiate itself from competitors like Tesla and Rivian that produce electric pickups swagged out with features that make the president say “everything’s computer” and carry price tags that put them out of reach for many Americans.

But the startup clearly borrowed some flamboyance from Tesla’s marketing playbook. Slate recently teased the truck’s release by parking design prototypes in different parts of Venice, CA, wrapped in ads for imaginary businesses.

You can reserve one…at Slate’s site for a refundable fee of $50.—SK

Presented by Timeline

WORLD

A person shopping at a grocery store

Oscar Wong/Getty Images

American consumers are worried about the economy. Consumer sentiment dropped 8% from March to April amid worries about inflation, according to the University of Michigan’s closely watched survey. Though sentiment edged up slightly from an even lower reading earlier in the month, inflation expectations climbed to their highest since 1991 as consumers fret about the potential impact of tariffs. And even beyond possible rising prices, things could be about to get rougher for consumers: Major retailers have warned that unless President Trump’s tariff policy toward China changes, they’re likely to encounter empty store shelves in a few weeks.

Ex-Congressman George Santos sentenced to more than seven years. The former New York representative and current Cameo star was sentenced yesterday to 87 months in prison after pleading guilty to federal wire fraud and aggravated identity theft last summer. Santos, who was ousted by his fellow lawmakers after serving a year in Congress, apologized in court and said he was “humbled.” But the judge wasn’t buying it, asking, “Where is your remorse? Where do I see it?” before handing down the sentence. Santos is scheduled to report to prison in July.

Your next iPhone will probably come from India. With the trade war raging, Apple is accelerating its plans to pivot its supply chain away from China even faster than planned, and it’s aiming to move production of all 60+ million iPhones it sells annually in the US to India by 2026. The tech giant has been building up its production in India for some time, but to meet that goal, it would need to nearly double the number of phones it makes there. Currently, 1 in 5 of the smartphones Apple sells comes from India, while the majority still come from China, per Bloomberg.—AR

BIG TECH

Chrome logo with three mouse arrows pointing at it

Illustration: Emily Parsons/Google

Google has not yet been ordered to divorce itself from Chrome as a possible punishment for being found guilty of operating an illegal search monopoly, but that hasn’t stopped OpenAI, Perplexity, and Yahoo from expressing interest this week in sweeping the web browser with 3.5 billion users off its feet.

A federal judge presiding over the trial—which began Monday to determine Chrome’s fate—isn’t expected to rule until August or September. And even then, he may not require Google to sell off Chrome as the government is requesting, which would make this preemptive tech thirst for nothing.

Any potential marriage could involve taking on debt, as Chrome has been speculated to be worth between $20 billion and $100 billion, and…

  • OpenAI is valued at $300 billion, but has yet to turn a profit.
  • Perplexity’s latest valuation is under $10 billion.
  • Yahoo, a former search engine powerhouse best known today as the place to host a fantasy football league, was most recently purchased for $5 billion.

Still, if the suitors can figure out their financials, Chrome would allow any buyer to expand its influence on the internet.

The DOJ also wants to prohibit Google from paying smartphone companies to make Google searches the default on devices. If the search engine market doesn’t become competitive within five years after these changes, the government could force Google to sell Android.—DL

Together With Timeline

FOOD & BEV

Advertisement for Khloe Kardashian's Khloud Protein Popcorn

@khloudfoods/Instagram

For anyone khounting their makhros, reality star and entrepreneur Khloé Kardashian unveiled her new product this week: Khloud Protein Popcorn. The new snack boasts 7 grams of protein per serving—two more grams than an entire Jack Links Beef Stick—aligning with consumers’ recent obsession with protein-packed food and drinks.

The popcorn isn’t covered in burnt ends—its protein boost comes from a proprietary blend of seasonings and milk protein powder called “Khloud dust” that’s sprinkled over the air-popped kernels. The snack will officially hit shelves on Tuesday with three flavors: White Cheddar, Olive Oil and Sea Salt, and Sweet and Salty Kettle Corn.

  • Its trendy pastel Khloud packaging features additional wellness buzzwords like “non-GMO” and “seed-oil free” that you’ve probably seen in health influencer video hashtags.
  • Competing brands marketed as healthy popcorn, like LesserEvil and SkinnyPop, have 2 grams of protein or less per serving.

Protein-a-palooza: The proteinization of everything from sparkling water to condiments to frozen dinners has taken over the food industry—despite nutrition experts saying most adults already get enough protein. The rise of GLP-1 weight loss drugs has also helped popularize high-protein diets, as some users report losing muscle mass as a side effect.—MM

STAT

The California state flag atop a pile of money

Emily Parsons

California, the state known for its beautiful weather, scenic highways, and $20 smoothies named after celebrities, is now the fourth-largest economy on the planet. Data released this week shows it has eclipsed Japan to claim the No. 4 spot—putting it behind just the US as a whole, China, and Germany:

  • According to the state’s governor, newly released numbers from the International Monetary Fund and the US Bureau of Economic Analysis put California’s nominal GDP at $4.1 trillion for 2024 and Japan’s at $4.02 trillion.
  • Its economy also grew faster than the top three. California’s growth rate was 6%, compared to 5.3% for the US, 2.6% for China, and 2.9% for Germany.

But the Golden State may not keep its Hollywood ending forever: India’s economy (currently No. 6) is projected to overtake California’s by 2026.—AR

NEWS

  • The FBI arrested a Milwaukee judge it claims tried to help a man appearing in her courtroom evade ICE officers, escalating the Trump administration’s standoff with local authorities over immigration.
  • In other immigration news, the administration reversed its decision to revoke thousands of student visas amid a legal challenge.
  • President Trump said he’s negotiated 200 trade deals in a sweeping interview with Time magazine in advance of the 100th day of his second term.
  • China is said to be exempting some US goods from its retaliatory tariffs, but it has not said so publicly, and continues to deny that Beijing is in talks with the Trump administration.
  • Luigi Mangione pleaded not guilty to federal stalking and murder charges over the killing of UnitedHealthcare CEO Brian Thompson.
  • Warner Music sued Crumbl Cookies for allegedly using 159 of its copyrighted songs without permission in social posts promoting the pink-boxed treats.

RECS

To-do list banner

Light: You shouldn’t burn your pasta—but you can burn this pasta-shaped candle.**

Get unstuck: The trick to getting a catchy song out of your head.

See double: Movie magic that lets one actor play twins has come a long way.

Watch: How Pope Francis put his own spin on what the pope wears.

Energy + enjoyment: You might find yourself looking forward to taking Mitopure® by Timeline. It’s clinically proven to boost energy levels and now comes in gummy form. Take 20% off.*

*A message from our sponsor. **This is a product recommendation from our writers. When you buy through this link, Morning Brew may earn a commission.

GAMES

Brew crossword: If you like clever wordplay, today’s crossword puzzle is your chance to shine. Play it here.

Open House

Welcome to Open House, the only newsletter section willing to rock the boat a little bit. We’ll give you a few facts about a listing and you try to guess the price.

Yankee Ferry docked in State Island, NY. Eclectic decor inside.Victoria & Richard Emprise

Today’s home is Yankee Ferry, a floating home docked at Staten Island. The ferry, built in 1907, is on the National Register of Historic Places, and for the last two decades, has been home to a whimsical artist couple, Victoria and Richard MacKenzie-Childs. Amenities include:

  • Original benches used by passengers
  • Brand new stainless-steel grill
  • All the eccentric decor already inside

How much for the 150-foot-long ferryboat (not counting the $3,900/month docking fees)?

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ANSWER

$1.25 million

Word of the Day

Today’s Word of the Day is: flamboyance, meaning “the quality of being showy or flashy.” Thanks to Dan from Minneapolis for the eye-catching suggestion. Submit another Word of the Day here.

         

Written by Neal Freyman, Abigail Rubenstein, Sam Klebanov, Dave Lozo, and Matty Merritt

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