Term Sheet Newsletter

1 day ago | fortune.com | Catherine McGrath

Ross Ulbricht was pardoned by President Donald Trump in January after serving nearly 11 years in prison. Ronda Churchill/Bloomberg—Getty Images

1 day ago | fortune.com | Irina Ivanova

BY Irina IvanovaDeputy US News EditorJune 6, 2025 at 12:18 PM EDTElon Musk says goodbye at the Oval Office, May 30, 2025. Tom Brenner For The Washington Post via Getty ImagesThe tit-for-tat between Tesla CEO Elon Musk and President Donald Trump sent shares of the EV maker into free-fall Thursdayin an epic stock plunge that wiped out tens of billions from Musk’s wealth.

1 day ago | fortune.com | Alexandra Garfinkle

“If secrets aren’t there, then it’s just not possible for software to run,” said Matsiiako, CEO and cofounder of Infisical. “Databases can’t connect to each other. Developers can’t use any resources. AI agents can’t integrate with the whole ecosystem. Basically, secrets are the glue that connects everything. And if they’re not there, there’s no way for organizations to secure systems. They can’t really run things, it’s not really operational.

1 day ago | fortune.com | Beatrice Nolan

Elon Musk and Donald Trump's once-cozy relationship is deteriorating in a very public fashion. Andrew Harnik—Getty Images

1 day ago | fortune.com | Jordan Blum

Less than a decade later, the sleepy Texas beachside city has expanded rapidly into America’s largest energy export gateway through a network of pipelines, storage tanks, docks and, this week, the completion of a prolonged ship channel dredging and widening project that should soon allow the single port to ship out almost as much crude oil as Iraq.