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Markets tanked after Israel’s huge overnight strikes on Iran, Boeing reels from a deadly crash in India, and Elon Musk gears up for a delayed robotaxi rollout.

Plus, Meta just dropped $14.3B into AI firm Scale in a bold bet on “superintelligence.”.

Let’s dive in! ☕️ 

Markets

💣️ US stock futures dive after Israel attacks Iran's nuclear site
Markets are rattled this morning. U.S. stock futures took a hit after Israel launched a preemptive strike on Iran's nuclear sites, citing national security threats. The Dow is down 1.1%, S&P 500 dropped 1%, and tech-heavy Nasdaq sank 1.3%. Oil spiked nearly 10% on fears of broader conflict, and gold climbed 1% as investors flocked to safety.

🥇 Safe haven rush begins after Israel strikes Iran
Markets jolted into risk-off mode Friday after Israeli airstrikes on Iran triggered fears of a wider regional war. Investors rushed into safe-haven assets, driving gold to a near two-month high and pushing up the U.S. dollar, Swiss franc, and Japanese yen. Treasury yields dipped as bond prices rose, and strategists warned the conflict’s ripple effects could continue to shake global markets.

🏘️ He’s Already IPO’d Once – This Time’s Different
Spencer Rascoff co-founded Zillow, scaling it to a $16B valuation. But everyday investors couldn’t invest until the IPO, missing early gains. So he made sure that wasn’t the case with Pacaso. Pacaso has made $100M+ in gross profits by disrupting the $1.3T vacation home market. And unlike Zillow, you can invest while Pacaso is private. [ad*]

✈️ Boeing Stock Drops as 787-8 Plane Crashes in India
Boeing shares are tumbling again after an Air India 787-8 Dreamliner carrying 242 people crashed shortly after takeoff from Ahmedabad. Early reports suggest one survivor, and the incident marks the first fatal crash for the 787 model in nearly 14 years. GE Aerospace and Spirit AeroSystems, both linked to Boeing's supply chain, are also seeing their stocks slide. This comes just as Boeing was beginning to recover from past safety scandals.

🤖 Robotaxi Wars
Elon Musk says Tesla is being "super paranoid about safety" as its long-awaited robotaxi test kicks off June 22, maybe. Musk added the date could still shift, while betting markets see only a 30% chance Tesla launches before July. Meanwhile, Waymo is already miles ahead, literally, running 250,000 paid trips per week across multiple cities. The $330 billion future of ride-hailing may be coming, but Tesla’s still at the starting line.

*This is a paid advertisement for Pacaso’s Regulation A offering. Please read the offering circular at invest.pacaso.com.

AI

Meta invests $14.3B in AI firm Scale

Meta is going all-in on AI again, dropping a massive $14.3 billion into Scale AI and pulling in its CEO, Alexandr Wang, to help build out a new “superintelligence” initiative. While Wang will remain on Scale’s board, he’s taking a small team over to Meta, and interim CEO Jason Droege (formerly of Uber Eats) is stepping in.

This strategic move gives Meta a 49% stake in Scale, now valued at over $29 billion, as Zuckerberg ramps up AI efforts to stay competitive with Google, OpenAI, and Microsoft. The investment deepens their commercial ties while Scale stays independent.

This follows a growing trend, Big Tech grabbing top AI talent without full acquisitions. Microsoft absorbed key Inflection AI staff, Google snagged leaders from Character.AI, and Amazon secured a license to Adept’s tech.

Wang, who started Scale at 19 after leaving MIT, now joins Zuckerberg on another ambitious tech moonshot, this time, aiming for superintelligence instead of the metaverse.

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