The Supreme Court took a sledgehammer to federal agencies’ powers yesterday in the most historic hobbling since Kathy Bates’s performance in the film Misery.

In a 6–3 decision down conservative/liberal lines, SCOTUS overturned one of the most-cited precedents in American law: the Chevron doctrine, a 40-year-old decision that gave broad power to interpret laws to the federal agencies tasked with regulating everything—from healthcare to net neutrality. Since 1984, it has enabled departments and commissions like the CDC and FCC to determine how vague laws should be implemented in their areas of expertise.

With the precedent gone:

• Courts are no longer required to defer to agencies’ interpretations of unclear laws, which is expected to make it more difficult for agencies—led by subject matter experts appointed by the president and confirmed by the Senate—to regulate the industries they oversee.
• The power to determine how a certain statute should be applied will instead return to judges, who are probably less familiar with the nuances of a subject like factory emissions, for example, than the EPA is.

Chief Justice Roberts stated in the majority opinion that the 17,000 lower court decisions and 70 Supreme Court rulings that have used the Chevron doctrine’s precedent will still stand. But federal regulations that aren’t explicitly backed up by clear-cut laws will likely face new legal challenges.

Targets may include: Recent car- and power plant pollution limits set by the EPA, the FDA’s ability to fast-pass “breakthrough” drugs and medical devices, and the FTC’s April ban on noncompetes, according to Bloomberg. In her dissent, Justice Elena Kagan warned that yesterday’s decision could also spell trouble for long-standing agency rules that weren’t or couldn’t be challenged before.

This is a long-sought victory for legal conservatives, who have been aching to curtail the power Chevron gave to unelected bureaucrats (who tend to reflect the ideological beliefs of whoever is president at the time). If Trump returns to the White House, the ruling could also grease the wheels for a big edit-undo on Biden administration policies.—ML

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SCOTUS sides with January 6 rioter on obstruction charge. The Supreme Court’s term is nearly over, so the justices have been busy this week, and today’s rulings included one that found prosecutors overreached in charging a Jan. 6, 2021, rioter with obstruction under the Sarbanes-Oxley Act, a law aimed at financial crimes. The decision is likely to lead to similar charges against other Capitol riot participants getting dropped—and could even impact the prosecution of Donald Trump, who’s been charged under the same provision. The high court also ruled that cities can ticket homeless people for sleeping outside. Expected on Monday: a decision on Donald Trump’s immunity and one on social media moderation.

Joe Biden says he won’t quit the 2024 race as replacement talk grows. The president fumbled his first debate of the election cycle against Donald Trump with unfocused rambling answers that revived concerns about his age, but despite calls from prominent Democrats to let someone else be the party’s candidate, he said yesterday he isn’t backing down. “I don’t walk as smoothly as I used to. I don’t debate as well as I used to. But I know what I do know,” Biden told supporters at a North Carolina rally. “I know how to tell the truth, I know right from wrong, and I know how to do this job.”

The US keeps breaking travel records. Not since the heyday of Michael Phelps has America broken so many records: TSA said it expected to screen 3+ million flyers at the airport yesterday, and that’s just the beginning of an anticipated record-breaking weekend. The Fourth of July travel bonanza comes after a record number of people (just under that 3 million mark) got on planes last Sunday—and seven of the 10 busiest US air travel days ever occurred between May 23 and June 27, according to the Wall Street Journal. The TSA also expects to see 32+ million travelers between the holiday and July 8. The unprecedented numbers in the sky may be thanks to cheap flights and international wanderlust fueled by a strong dollar.

Nike hasn’t fumbled this hard since your middle-school math teacher showed up to homeroom in a pair of Air Force 1s. Shares of the sportswear giant dropped 20% yesterday after Nike announced it expects sales to fall 10% during the current fiscal quarter.

Analysts argue that Nike has made several missteps, including failing to innovate while upstarts like On Running and Hoka raced past the iconic brand. The company has tried to pull away from retailers like Foot Locker and bet on its own direct sales through its website and stores, but it said in April that the strategy was a mistake.

• The once-star of sneakers has already seen its stock fall over 17% in the last 12 months.
• In its last fiscal year, Nike reported flat sales and its slowest annual sales growth in 14 years (ignoring pandemic upsets).
• Nike says its lifestyle department—specifically the Converse line—is now lagging behind the competition.

The new plan of attack: Nike wants to focus on releasing new product lines, something it has slacked on in recent years. It also hopes to win back 1) Chinese consumers with the help of new high-end Jordans and 2) the customers it lost to rivals Adidas, Hoka, and On.—MM

For more on Nike’s struggles, watch: “Why Nike is Facing Its Worst Performance in Years”

Build a more equitable future. Talia Bender Small has spent years working with The Female Quotient to advance equality in the workplace and close the gender gap. We sat down with Bender Small to gain insight into workplace equity and learn strategies for driving success in our professional lives. Get the scoop.

An AI company that’s making headlines by spelling doomsday for publishers just got itself in hot water with one of the biggest names in tech. Perplexity AI, a chatbot-powered “answer engine,” is facing an investigation by Amazon after unsettling everyone in the publishing world by allegedly ripping off other people’s work.

Here’s what went down:

• Earlier this month, Forbes claimed that Perplexity stole and repurposed one of its articles, including a custom illustration, with only the word “sources” and a tiny Forbes logo as attribution.
• WIRED then alleged that Perplexity intentionally bypasses other websites’ Robot Exclusion Protocol, which is sort of like a wall on a web page designed to prevent bots from scraping its content. The protocol has been an important part of keeping the internet humming.
• Yesterday, Amazon Web Services opened an investigation into whether Perplexity is doing this with a tool hosted on AWS’s servers, which would violate its terms of use, according to Wired.

Perplexity denies that its servers bypass the Robots Exclusion Protocol (“robots.txt” to techies), but it said it used a third-party web scraper that did.

Big picture: Perplexity is not the first AI company to use the internet to create a chatbot that can respond to “are sagittarius and leo compatible?” However, its alleged flouting of robots.txt is noteworthy. It’s not necessarily illegal, but, much like a player taking a long bathroom break during a pro tennis match, it’s heavily frowned upon.—CC

First it was fedoras, then vinyl records, and now the nostalgia addicts of TikTok have revived another seemingly outmoded product: the digital camera. Even though everyone’s phones can snap pics, Fujifilm—whose camera business slowed so much it pivoted to healthcare—can’t keep up with the resurgent demand for its retro-looking digital camera line, according to Reuters. The division that includes cameras accounted for 37% of the Japanese company’s revenue during its last fiscal year, which ended in March, up from 27% the year before. Last year’s boost to profits reflected the first year digital camera sales rose (rather than sinking) since 2010, with higher-end cameras seeing the biggest sales growth, per Semafor. We want TikTokers to decide iPod Nanos are a must-have next.