Apple has finally sprung its long-awaited cannonball into the augmented reality space, and it could revolutionize the industry—or flop hard.

Apple CEO Tim Cook unveiled the $3,499 Vision Pro yesterday at the company’s annual Worldwide Developers Conference. The presentation claimed the mixed-reality headset—which accommodates both AR and VR—will be the “most advanced personal electronics device ever.”

• Apple is positioning the headset to replace desktop computer-cluttered workspaces with an “infinite canvas” of virtual screens that hover in the field of view. Users can navigate with just their eyes, hands, and voice (no clunky controllers!).
• The Vision Pro boasts an enormous virtual screen through lenses with “more pixels than a 4K TV for each eye.” A new feature called EyeSight will keep users’ eyes visible through the display most of the time.
• Disney CEO Bob Iger guest-starred to tease a partnership with immersive experiences like watching Star Wars content while on one of the franchise’s planets. Users will also be able to play more than 100 Apple Arcade titles on day one.

Will the Vision Pro live up to the hype?

While some believe the Vision Pro will be the iPhone of mixed-reality headsets, others aren’t so sure, considering how existing competitors have done so far.

• As of March, Meta—the current industry big dog—had sold nearly 20 million Quest headsets. While they’re much cheaper and the brand has a head start, less than half of Quests were still being used six months after purchase, the Wall Street Journal reported.
• Microsoft’s HoloLens headset, the newer model of which also costs $3,500, has only sold about 300,000 units since its 2016 launch.

So, why might this be different? Short answer: Apple is cool—they’re good at revamping existing markets with reinvented products. But consumers will have to wait until the Vision Pro hits shelves early next year to see if they really want to strap a screen to their face.—ML

Nikolay and Alexander Shkolnik, the physics dad and MIT grad behind LiquidPiston, are delivering the first major innovation to the internal combustion engine in over 100 years.

And guess what? They’re giving you the chance to become a shareholder.

They’ve patented a new thermodynamic cycle to power a redesigned rotary engine that boasts up to 10x the power of a traditional piston engine. Best of all, the engine is compatible with a variety of fuels, including hydrogen. This could unlock a 100% green energy solution for the combustion engine market.

No wonder this (thermo)dynamic duo has secured $30m in contracts from the US Army, the Air Force, and more.

And due to the acceleration in funding, this could be your last chance to lock in shares at this price. Invest in LiquidPiston today.

Russia destroyed a major dam and hydroelectric power plant, Ukraine said. The dam is located in the southern part of Ukraine controlled by Russia, and officials have told the hundreds of thousands of people at risk of flooding to evacuate. But devastating flooding isn’t the only concern: Waters from the breached Kakhovka dam are also used to cool the nuclear reactors at the nearby Zaporizhzhia nuclear power plant. A Russian official denied it was behind the dam attack, putting the blame on Ukrainian shelling.

Investigations begin into Virginia plane crash. Federal investigators have started sorting through the rubble left over from Sunday’s private plane crash in the mountains of Virginia in an effort to determine why the pilot appeared hunched over and unresponsive to fighter jets that were sent as the Cessna passed over the nation’s capital. The lead investigator described the wreckage as “highly fragmented” and said he expected it to take the team several days to examine. Four people were killed in the crash, including the daughter and granddaughter of the plane’s owner, Encore Motors owner John Rumpel.

FBI agent turned Russian spy dies in prison. Robert Hanssen, the person responsible for what the FBI once called “possibly the worst intelligence disaster in US history,” was found dead in his Colorado prison cell at age 79 yesterday. The government accused Hanssen of trading highly classified information from his counterintelligence roles to Moscow for $1.4 million in cash and diamonds. He was sentenced to life in prison in 2002 after pleading guilty to espionage. He began spying in 1979, three years after he joined the FBI, and claimed he had planned on it since he was a teenager.

Dogged JDs are coming for the world’s largest crypto exchange: The Securities and Exchange Commission (SEC) sued Binance and its CEO, Changpeng Zhao, yesterday.

The suit comes as US regulators adopt a no-more-crypto-monkey-business attitude after the collapse of former Binance rival FTX.

The agency alleges Binance funneled customer funds to a third-party company controlled by Zhao to inflate trade volumes, misled investors about the platform’s anti-market manipulation safeguards, and operated an illegal securities exchange in the US.

Binance was barred from working with Americans directly due to the riskiness of its investment offerings, so its US-based affiliate, Binance.US, was supposed to be independent. But the SEC claims it wasn’t really independent at all and that it bypassed regulations by allowing American clients to trade on Binance’s international platform.

Binance denied the agency’s allegations and accused regulators of failing to articulate rules for the crypto industry clearly. But it might have a hard time proving its executives were ignorant of wrongdoing. The SEC claims Binance’s Chief Compliance Officer sent this message to a coworker in 2018: “we are operating as a fking unlicensed securities exchange in the USA bro.”

Zoom out: Binance is also facing a Justice Department investigation over alleged money laundering and a civil lawsuit from the Commodity Futures Trading Commission.—SK

A 30,000-square-foot mansion sounds cool and all, but have you ever tried living in a tiny home where you can know with 100% certainty that no one’s going to ask to stay with you while they’re in town for the weekend? A viral tweet featuring a Home Depot tiny home kit has Americans asking themselves…how much space do I really need?

The specs: The viral “Getaway Pad” manufactured by Plus 1 Home Kits is a $43,832 steel frame that, once assembled and finished, yields a 540-square-foot, 1-bed, 1-bath home. Not included: insulation, doors, windows, plumbing, electrical wiring, flooring, or throw pillows.

Here’s the catch: The fully realized cost is more than Home Depot advertises. Unless you’re one of the Property Brothers (and if you are, hi <3), you would probably need a contractor to finish the home. You would also have to secure a foundation ($3,000–$9,000), permits ($1,000), and a place to put it…which could be tricky due to zoning laws and minimum square-footage requirements for permanent residences.

Yet, with the average price of a home above $339,000, even a luxury tiny home would be cheaper than a regular house. Other prefabricated tiny home brands, like Modal and Samara, make an aesthetically compelling case for what can be done with a small space. Plus: It’s a great way to dramatically reduce your carbon footprint and a perfect excuse not to host this month’s book club.—CC

Stat: Five-star rating systems were supposed to help ensure that your ride-hailing driver’s car would be clean and your Airbnb flat wouldn’t remind you of The Shining, but the Wall Street Journal recently noted that people seem willing to dole out those stars pretty liberally. Ratings are so high that Lyft said drivers who score below 4.8 are asked to improve, and a ranking below 4.6 can get them kicked off the app. The grade inflation flows both ways: Uber said its average US passenger has a 4.9 rating.

Quote: “CNN is not about me.”

CNN CEO Chris Licht apologized to the news network’s employees at what was likely a pretty awkward staff meeting yesterday. Licht was doing damage control after The Atlantic published a 15,000-word profile in which the exec criticized coverage choices made before he took over. Saying he didn’t recognize himself in the article, Licht vowed to “fight like hell” to win back staffers’ trust. In addition to his ill-considered participation in the profile, Licht is dealing with bad ratings and blowback from the newsroom over the handling of a town hall with former President Trump.

Read: Claw & Order: An investigation into whether Jersey Shore boardwalk games are a scam. (NJ Advance Media)

Explore Mars without Elon’s help: These images were beamed down in as close to real-time as we can get from space.

Learn these ASAP: The meanings behind the acronyms you encounter every day.

Behind the magic: After these prize-winning illusions fool your brain, their creators tell you how they’re done. 

It’s Black Music Month: Celebrate with Charlie Wilson.

Memeified: Despite the cash crunch for startups, calendar scheduling tool Calendly believes it’s in a unique position to grow, even after being memeified. Read the full story here.

A completely new way to learn: Imprint offers bite-sized, interactive, visual lessons that help you understand complex concepts quickly. Choose from topics in business, psychology, philosophy, science, and more. Download the app.*

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Brew Mini: Fans of board games, TSwift, and the Buckeyes will love this puzzle. See if you can solve it in less than Neal’s time of 41 seconds. Play the Mini here.

Famous historical dates

On the 79th anniversary of D-Day, today’s trivia is all about important historical dates. We’ll give you a date, and you have to figure out what major event happened on that day.

1. March 15, 44 BCE
2. June 15, 1215
3. October 31, 1517
4. December 16, 1773
5. April 15, 1912
6. August 28, 1963
7. February 24, 2022

🛒 Retail leaders from Mejuri, Casper, and more shared the DTC marketing strategies they use to keep customers coming back. Get the guide.

Money with Katie’s 2023 Wealth Planner can help you reach your money goals. Track your income or your debt payoff with this easy-to-use tool.

Save your startup with a good sanity check. In our free virtual event, experts discuss raising money, building for better times, and what not to do.