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Jon Keegan

Last-minute settlement keeps Zuckerberg, Andreessen, Thiel, Sandberg, and other Meta board members from taking the stand in $8 billion privacy suit

It would have been quite a trial.

Next week was supposed to feature several titans of tech taking the stand in the Delaware Court of Chancery to defend themselves against an $8 billion privacy lawsuit brought by Meta investors.

The lawsuit was not directed Meta itself, but rather top executives and board members.

Meta shareholders who filed the suit alleged that company leadership knowingly violated user privacy and ran afoul of a 2012 FTC consent decree, among other privacy-related missteps.

The suit alleged that the lax privacy controls led to the 2015 Cambridge Analytica scandal, when the voter profiling company collected huge amounts of personal data from Facebook users using third-party access to the platform.

Today was the second day of the trial, and Reuters reports that the parties reached an undisclosed settlement, ending the case and saving some big names from testifying.

Meta CEO Mark Zuckerberg, venture capitalist and Meta Director Marc Andreessen, former Meta Chief Operating Officer Sheryl Sandberg, Palantir cofounder Peter Thiel, and Netflix cofounder and Chairman Reed Hastings were all expected to give testimony in the case.

Meta investors, Zuckerberg reach settlement to end $8 billion trial over Facebook privacy litigation

Meta investors, Zuckerberg reach settlement to end $8 billion trial over Facebook privacy litigation

The lawsuit was not directed Meta itself, but rather top executives and board members.

Meta shareholders who filed the suit alleged that company leadership knowingly violated user privacy and ran afoul of a 2012 FTC consent decree, among other privacy-related missteps.

The suit alleged that the lax privacy controls led to the 2015 Cambridge Analytica scandal, when the voter profiling company collected huge amounts of personal data from Facebook users using third-party access to the platform.

Today was the second day of the trial, and Reuters reports that the parties reached an undisclosed settlement, ending the case and saving some big names from testifying.

Meta CEO Mark Zuckerberg, venture capitalist and Meta Director Marc Andreessen, former Meta Chief Operating Officer Sheryl Sandberg, Palantir cofounder Peter Thiel, and Netflix cofounder and Chairman Reed Hastings were all expected to give testimony in the case.

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Jake Lahut

US on par for $4.50 per gallon in the next week or two: Gas Buddy

Gas prices shooting up across several Midwestern states is putting the national average on track to hit $4.50 per gallon within the next two weeks, according to Gas Buddy’s Patrick De Haan.

In Michigan, the price went from $3.78 a week ago and $4.18 Tuesday to over $4.25 on Wednesday.

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(Event contracts are offered through Robinhood Derivatives, LLC — probabilities referenced or sourced from KalshiEx LLC or ForecastEx LLC.)

Wisconsin, where gas remained below the national average of $4.22 as of Wednesday afternoon, saw a more modest but similar jump up to $3.96 per gallon, according to the American Automobile Association.

De Haan also mentioned Ohio, Indiana, and Illinois in his post on BlueSky as contributing to the surge. Of those states, gas is most expensive in the Land of Lincoln, at $4.52 per gallon.

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Patrick De Haan (@gasbuddyguy.bsky.social)

Patrick De Haan (@gasbuddyguy.bsky.social)
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(Event contracts are offered through Robinhood Derivatives, LLC — probabilities referenced or sourced from KalshiEx LLC or ForecastEx LLC.)

Wisconsin, where gas remained below the national average of $4.22 as of Wednesday afternoon, saw a more modest but similar jump up to $3.96 per gallon, according to the American Automobile Association.

De Haan also mentioned Ohio, Indiana, and Illinois in his post on BlueSky as contributing to the surge. Of those states, gas is most expensive in the Land of Lincoln, at $4.52 per gallon.

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power
Max Knoblauch

In a 1,100-word statement, United CEO says merger talks with American have ended

United’s pursuit of its rival American Airlines has ended, according to a lengthy statement from United CEO Scott Kirby on Monday.

Per Kirby, American “declined to engage” with his “big, bold vision” of a megamerger that would have controlled more than a third of the US market, instead “publicly closing the door.”

“American’s public comments make it clear that a merger like this is off the table for the foreseeable future,” said Kirby, who also believes regulators would have approved the deal.

Kirby’s effort — and sheer word count — in explaining the logic and benefits of the deal could be read as evidence that the executive is still in the market for a big combination. A common theory in the industry has been that the megamerger could have been a means to actually pitch a smaller (but still huge) merger between United and JetBlue.

President Trump last week told CNBC that he didn’t like the United-American idea and would instead “love somebody to buy Spirit.” In American’s earnings call last week, CEO Robert Isom swiftly rejected a United merger, saying the two carriers are “going to be roommates and we’re not getting married.”

Statement from United Airlines CEO Scott Kirby

Statement from United Airlines CEO Scott Kirby

“American’s public comments make it clear that a merger like this is off the table for the foreseeable future,” said Kirby, who also believes regulators would have approved the deal.

Kirby’s effort — and sheer word count — in explaining the logic and benefits of the deal could be read as evidence that the executive is still in the market for a big combination. A common theory in the industry has been that the megamerger could have been a means to actually pitch a smaller (but still huge) merger between United and JetBlue.

President Trump last week told CNBC that he didn’t like the United-American idea and would instead “love somebody to buy Spirit.” In American’s earnings call last week, CEO Robert Isom swiftly rejected a United merger, saying the two carriers are “going to be roommates and we’re not getting married.”

Millie Giles
CAPITOL LOSSES
4/24/26
Washington, DC, lost over 100,000 jobs last year, the most in the US

Sweeping federal job cuts and a shrinking hospitality sector have resulted in high unemployment in the nation’s capital.

United States Capitol and Pennsylvania Avenue in Washington, DC
1
Jon Keegan

In December, the White House announced a new program to let wealthy foreigners get a shortcut to US citizenship — the “Trump Gold Card.” After paying a $15,000 application fee, passing a vetting process, and ultimately paying a $1 million “contribution,” the applicant gets a card in President Trump’s favorite color that grants the owner US citizenship “in record time.”

So, how many of these rich foreigners have received their shiny ticket to American residency? Commerce Secretary Howard Lutnick told a House committee today that only one of the cards has been issued, but “hundreds” of applications are being reviewed.

In December, Lutnick predicted that the cards could generate up to $1 trillion in revenue.

power
Jake Lahut

Who’s next to leave the Trump admin following Chavez-DeRemer’s departure?

After a few abandoned nominations and the occasional lateral demotion during President Donald Trump’s first year in office, turnover has accelerated dramatically.

Just in the past month, top officials such as Attorney General Pam Bondi, Homeland Security Secretary Kristi Noem, and Labor Secretary Lori Chavez-DeRemer have left their posts.

Following a report from The Atlantic alleging heavy drinking and absenteeism plaguing FBI Director Kash Patel, the odds of his departure from the Trump administration in 2026 shot up sharply, with traders now pricing in an 80% chance he won’t last the year.

(Event contracts are offered through Robinhood Derivatives, LLC — probabilities referenced or sourced from KalshiEx LLC or ForecastEx LLC.)

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Tulsi Gabbard, the director of national intelligence, is another official who could be on the ropes. Her deputy, Joe Kent, has already resigned over the Iran war. Gabbard’s 2020 presidential campaign — and appeal in broadening Trump’s electorate in 2024 — heavily centered around ending perpetual “regime change wars.” The White House has indicated to Gabbard that they want her gone before the midterms, but the timing of her departure remains vague, according to two sources familiar with the discussions who spoke to Sherwood News in recent weeks.

As for who will replace the outgoing members, pay attention to who can be confirmed by the Senate. To replace Bondi, a Trump adviser told Sherwood the most likely replacements are acting Attorney General Todd Blanche, Trump’s former personal attorney, as well as EPA Administrator Lee Zeldin.

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Which Trump officials might be next to leave the administration

Kash Patel, Tulsi Gabbard

Following a report from The Atlantic alleging heavy drinking and absenteeism plaguing FBI Director Kash Patel, the odds of his departure from the Trump administration in 2026 shot up sharply, with traders now pricing in an 80% chance he won’t last the year.

(Event contracts are offered through Robinhood Derivatives, LLC — probabilities referenced or sourced from KalshiEx LLC or ForecastEx LLC.)

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Tulsi Gabbard, the director of national intelligence, is another official who could be on the ropes. Her deputy, Joe Kent, has already resigned over the Iran war. Gabbard’s 2020 presidential campaign — and appeal in broadening Trump’s electorate in 2024 — heavily centered around ending perpetual “regime change wars.” The White House has indicated to Gabbard that they want her gone before the midterms, but the timing of her departure remains vague, according to two sources familiar with the discussions who spoke to Sherwood News in recent weeks.

As for who will replace the outgoing members, pay attention to who can be confirmed by the Senate. To replace Bondi, a Trump adviser told Sherwood the most likely replacements are acting Attorney General Todd Blanche, Trump’s former personal attorney, as well as EPA Administrator Lee Zeldin.

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