Good Morning! Hope you had a lovely weekend! Last Friday, I said there wasn’t a lot of news… Well that blew up right in the face after the newsletter went out. The 45th president convicted for fraud in NY!

Well small recap today on that, but also more on:

• Salesforce share’s dropping more than 20%, all because of AI?

• Boeing can’t get it right

• A very democratic week(end)

• Nvidia’s new chip announcement

Enjoy!

US ELECTIONS
Donald Trump convicted for fraud!

What happened?
In a historic verdict, Donald Trump, the 45th president of the United States, was found guilty on all 34 charges of falsifying business records. This marks the first time a U.S. president has been convicted of criminal charges.

The trial centered around the use of campaign funds during the 2016 presidential election to silence adult film actress Stormy Daniels, who allegedly had an affair with Trump in the early 2000s. Trump's campaign paid Daniels $130,000 in hush money to prevent her from going public with the story, which, while legal, was misallocated in Trump's financial records, leading to the criminal charges.

Trump has claimed that the trial was politically motivated by the Biden administration, while President Biden stated that the only way to keep Trump out of the Oval Office is through the November elections.

Why it Matters
The verdict is obviously not good for Trump and a stain on his already not so clean record. The verdict will most likely have a effect on the outcome of the November elections. Interestingly, in the immediate aftermath of the verdict, Trump's campaign reported receiving a record amount of donations, suggesting that the conviction may have activated his supporters.

Some speculate that if this trial was a strategy employed by the Democrats to undermine Trump's political prospects, it might have been the wrong one. Trump faces more severe charges in other ongoing trials, such as those related to election interference and withholding classified documents. In this context, the current case could be seen as a win-win situation for Trump, as he could either claim vindication if found not guilty or gain support by saying the trial is politically motivated if found guilty.

What’s Next
While this conviction is a major event, it's not the only legal issue Trump is dealing with. However, the other trials have been pushed back and will likely happen after the November elections. This means that this guilty verdict will probably be the only one Trump faces before people vote. Trump will hear it sentence (mostly likely a fine), on July 11th. Trump already said that he will appeal the ruling

The next few months are going to be full of more drama and changes in the political world. It's hard to say exactly how this conviction will affect Trump's political future and the overall election, but one thing is for sure: the time leading up to the November elections will be filled with intense attention and a lot of heated arguments.