📻 Trump Kills Voice of America

Letter From Editor
For the last year+ I’ve been writing this newsletter (3) times a week. Over that time I’ve played around with various formats to see what works, and what doesn’t. Some days there’s so much news I want to write about that I might write 6-8 articles. Other days there’s not a ton of news, or I’m tight on time because of my “day job” or traveling, so I just write (1) long-form article and a bunch of quick hit summaries.

I thought today I’d open it up to my readers to let me know what format you’d prefer:

In today’s newsletter we discuss Trump killing Voice of America & Radio Free Europe, Klarna steals Walmart deal from Affirm, photo calorie-counting app Cal AI takes off, Apple TV+ confirms "Ted Lasso" coming back for season 4, The Senate Banking Committee has advanced legislation for the "GENIUS Act", and Ryan Reynolds’s Wrexham AFC soccer team have received local planning permission to erect four brick walls at the club's Racecourse Ground where the team plays home matches.

Scroll on!

WHAT WE’RE READING

📻 Trump Kills Voice of America

President Trump's recent executive actions have triggered a dramatic overhaul of U.S. government-funded media properties Voice of America (VOA) and Radio Free Europe/Radio Liberty (RFE/RL). And by “dramatic” I mean President Trump is essentially shutting them down.

These actions include significant funding reductions and the placement of numerous staff members on administrative leave, signaling a fundamental shift in U.S. international broadcasting strategy.

The Voice of America was established in 1942 during World War II, with the mission of providing accurate, balanced, and comprehensive news and information to audiences outside the United States. It operates under the U.S. Agency for Global Media (USAGM), which prior to these recent actions had an annual budget nearing $1 billion dollars and was approved by Congress. VOA broadcasts in numerous languages via radio, television, and online platforms, targeting global audiences, particularly in regions with restricted access to free press. It's estimated that VOA reaches weekly audiences of over 200 million people worldwide, with significant listenership in areas such as East Asia, Eastern Europe, and Africa.

As a result of these executive orders, some of the effects include:

• Staffing Changes:

  • Reports indicate that "virtually" the entire 1,300-person staff of VOA has been placed on administrative leave.

• Financial Impact:

  • Grant funding to organizations like Radio Free Europe/Radio Liberty has been terminated.

  • The USAGM budget is being drastically reduced.

• Operational Changes:

  • There are reports of the cancellation of contracts that allowed VOA to use material from independent news organizations.

  • Restrictions on employees accessing USAGM premises and systems.

These actions have drawn sharp criticism, with opponents emphasizing the vital role of these media outlets in promoting democracy and providing access to unbiased information, especially in countries with authoritarian regimes. Critics also highlight the relatively small cost of these agencies compared to the overall federal budget, arguing that their value in terms of "soft power" far outweighs the financial expenditure.

💰 Business

Klarna has secured an exclusive partnership with Walmart's consumer finance app, OnePay, to provide buy-now-pay-later services, effectively replacing rival Affirm. This move, occurring as Klarna prepares for its potential IPO, will integrate Klarna's installment loan options into Walmart's online and in-store checkout processes, offering customers flexible repayment terms from three to 36 months. The partnership leverages OnePay's existing integration within Walmart's digital and physical channels, significantly expanding Klarna's reach and providing Walmart shoppers with enhanced financial flexibility.

📺 Entertainment

"Ted Lasso" fans can rejoice as Apple TV+ has officially renewed the beloved comedy series for a fourth season, with Jason Sudeikis set to reprise his iconic role as the optimistic coach. Not sure how they’re going to write that story line, since (spoiler alert) he left the team and headed home to America at the end of Season 3. There are rumors that the new fourth season will focus on "leaping before you look," and that Ted Lasso might be coaching a women's team. I’ll certainly be watching!

🍔 Tech

Cal AI, a photo calorie-counting app that has achieved over a million downloads, was developed by teenagers Zach Yadegari and Henry Langmack. This app utilizes AI and large image models from companies like Anthropic and OpenAI to allow users to estimate calorie intake simply by photographing their food. Genius! The app has seen rapid growth, is already generating revenue, and is achieving high customer retention, demonstrating the potential of AI-powered health technology and the entrepreneurial spirit of its young creators.

🪙 Crypto

The Senate Banking Committee has advanced a key piece of legislation called  the "GENIUS Act" aimed at establishing a federal regulatory framework for stablecoins. This move signifies a significant step towards bringing clarity and oversight to the burgeoning digital asset sector. The bill, which passed with bipartisan support to provide consumer protections, foster innovation, and ensure the U.S. maintains its position in the global financial landscape. Key aspects of the legislation include provisions for licensing stablecoin issuers and establishing reserve requirements. While the bill now moves to the Senate floor for further consideration, its advancement marks a notable milestone in the ongoing effort to regulate cryptocurrencies, and the change in how the SEC approaches the regulation of cryptocurrencies.

⚽ Sports

Ryan Reynolds, co-owner of Wrexham AFC, has successfully navigated a local planning dispute, and secured permission to erect four brick walls at the club's Racecourse Ground. Despite the walls being described by some as "ugly" and facing initial objections due to their potential visual impact on the surrounding area, the Wrexham County Borough Council approved the plans. The walls are intended to improve stadium security and delineate specific areas within the ground, a move deemed necessary as the club's profile and attendance have surged following Reynolds' and Rob McElhenney's takeover. This decision marks another step in the ongoing redevelopment of the Racecourse Ground, aimed at enhancing the fan experience and accommodating the club's growing popularity.

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irl Media NEWSLETTER is written, edited, and published by Chris Thompson.