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Nova Newsletter
April 20, 2025
☕ Good morning. 1,574 words for you today - 8-minute read.
The Spotlight
1. Iran Closes Strait Of Hormuz After US Blockade
Iran closed the Strait of Hormuz and fired on vessels after the U.S. maintained a blockade, escalating tensions over a critical global oil chokepoint.
Takeaways
Iran’s Revolutionary Guard declared strict control of the Strait, warning ships would be targeted.
The U.S. blockade triggered retaliation, threatening roughly one-fifth of global oil flows.
Pakistan and mediators are pushing for renewed talks amid a fragile ceasefire window.
Iran reversed its earlier reopening, saying no vessel may transit without permission as it fired on commercial ships, according to military statements.
The escalation threatens global energy markets, with oil prices and shipping routes reacting to instability in the waterway.
Both sides signal openness to talks, but conditions remain far apart, especially over sanctions and nuclear restrictions. Read More
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2. Trump Lawyers Negotiate With IRS Over $10B Lawsuit
Lawyers for President Donald Trump are in talks with the IRS to resolve a $10 billion lawsuit over alleged tax record leaks.
Takeaways
$10B lawsuit over IRS tax leaks (2018–2020); contractor jailed for leak
Filing requests 90-day pause for settlement talks
Ethics experts cite Trump conflict controlling both sides of case
The filing asks a federal judge for a 90-day pause as parties explore settlement.
Case stems from IRS leaks reported by major outlets; ethics groups warn of unusual conflict as Trump leads executive branch while suing agency; contractor was sentenced to five years; Trump suggested damages could go to charity, including The New York Times and ProPublica reporting on low or zero tax payments.
Dispute highlights tension between presidential power and federal accountability. Read More
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3. Trump Sends Negotiators To Pakistan For Iran Talks
President Donald Trump said U.S. negotiators will travel to Pakistan on Monday for another round of talks with Iran aimed at extending a fragile ceasefire and easing Strait of Hormuz tensions.
Takeaways
Vice President JD Vance leads U.S. delegation with Witkoff and Kushner; ceasefire expires Wednesday.
Iran signals caution, not confirming talks but saying diplomacy continues amid wide gaps.
Strait of Hormuz crisis and U.S. blockade threaten global energy and shipping routes.
Pakistan hosts mediation efforts as security tightens in Islamabad with U.S. teams on ground.
Talks remain uncertain over nuclear program, proxies, and strait control amid mutual accusations.
Energy markets stay on edge as one-fifth of global oil flows through the strait.
Talks will test whether diplomacy can stabilize a chokepoint driving global economic pressure. Read More
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Investors see ANOTHER return from Masterworks (!!!!)
That’s 5 sales in 4 months. 28 all time. And the performance?
14.6%, 17.6%, and 17.8%, net annualized returns on sold works held longer than one year (See all 28 at Masterworks.com).
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Historically, the segment overall has had attractive appreciation and low correlation to stocks.*
Masterworks targets works featuring legends like Banksy, Basquiat, and Picasso, identifying what they believe to have significant long-term appreciation potential, not just at the artist level but at the level of individual artworks.
As one of the largest players in the art market, with $1.3 billion invested over 500 artworks, they pass critical advantages through to their 70,000+ members to add art to their portfolios strategically.
Looking to diversify your investments in 2026?
*According to Masterworks data. Investing involves risk. Past performance is not indicative of future returns. See important Reg A disclosures at masterworks.com/cd.
Quick Headlines
Eight children aged 1 to 14 were killed and two others wounded in a mass shooting across two homes in Shreveport, Louisiana, in what police say stemmed from a domestic disturbance involving a suspect later killed after a police chase. Read More
A humanoid robot from Chinese maker Honor won a half-marathon in Beijing in 50 minutes and 26 seconds, reportedly faster than the men’s human world record, highlighting rapid advances in China’s robotics race with the U.S. Read More
Kevin Durant missed Houston’s playoff opener with a bruised right knee as the Rockets fell 107-98 to the Lakers in Game 1, with Los Angeles capitalizing behind a balanced attack and 27 points from Luke Kennard while both teams played without key stars. Read More
Donald Trump signed a bill extending Section 702 surveillance authority until April 30 after Congress passed a last-minute stopgap to prevent expiration, continuing warrantless foreign intelligence collection that critics say risks sweeping up Americans’ communications. Read More
Pope Leo XIV said aboard a flight to Angola that he has “not in my interest at all” to debate Donald Trump, pushing back on political framing of his peace-focused remarks amid escalating public exchanges over Iran and religion. Read More
Three Californians were sentenced for insurance fraud after staging fake luxury car damage using a person in a bear costume inside Rolls-Royce and Mercedes vehicles, submitting nearly $142,000 in claims in what investigators called “Operation Bear Claw.”. Read More
Deep Dive
4. Trump Pushes National AI Control as States Resist Regulation Effort
Utah state lawmakers and tech veterans are clashing with President Donald Trump’s push to block state AI regulation, as states move ahead with their own rules amid federal pushback.
Takeaways
Trump administration is seeking a single national AI standard, warning that state laws could hinder innovation and competition with China.
More than 1,000 AI-related bills are moving through state legislatures, covering safety, privacy, and child protections.
Utah Republican Doug Fiefia, a former Google employee, is backing state-level AI safeguards, defying the White House position.
Tech industry lobbying is intense, with lawmakers describing an “army of full-time lobbyists” opposing regulation efforts.
A federal-state standoff is emerging as AI becomes one of the fastest-growing policy battlegrounds in the U.S.
In Utah, Republican state lawmaker Doug Fiefia is challenging Trump-aligned efforts to block state AI rules, arguing that “it’s coming, it’s here and it’s going to be our biggest fight.” His proposals, including child safety safeguards, were effectively killed after federal opposition labeled them “unfixable.”
The White House argues that fragmented state laws could slow U.S. AI development in a global race with China. Trump has backed an executive order warning of funding penalties for states that impose what Washington calls overly restrictive rules, while promoting a uniform federal framework instead.
But state momentum is accelerating. From California to New York to Republican-led states like Florida, lawmakers are advancing proposals on deepfakes, chatbot transparency, and data privacy, reflecting broad public concern. A recent poll found about 80% of Americans worry about AI, and most say government oversight is insufficient.
Fiefia, a former Google sales executive, says Big Tech prioritizes profit over safety. His opposition highlights a split within the GOP, where some lawmakers see regulation as necessary consumer protection, even as party leadership frames it as economic overreach.
The fight is now shaping elections and lobbying battles nationwide, with industry groups pouring millions into efforts to slow state-level rules and influence Congress.
The central tension is clear: whether AI policy will be set in Washington or across 50 competing state capitals. Read More
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On Our Radar
5. Titanic Survivor Life Jacket Sells $906K
A life jacket worn by Titanic survivor Laura Mabel Francatelli sold in England for £670,000 ($906,000) at auction.
Takeaways
Historic Titanic artifact sold above estimate of £250,000–£350,000 at Henry Aldridge & Son auction house.
Item is signed by Francatelli and fellow survivors from the same lifeboat.
Lifeboat seat cushion also sold for $527,000 to US museums in Pigeon Forge and Branson.
Auction reflects strong global demand for Titanic memorabilia.
Francatelli survived aboard lifeboat No. 1, which carried 12 people despite capacity for 40, later becoming part of a controversy over rescue efforts.
Auctioneer Andrew Aldridge said prices reflect lasting fascination and respect for Titanic stories.
The Titanic sank in 1912 after hitting an iceberg, killing about 1,500 of 2,200 passengers and crew.
Demand continues to rise, with record-breaking Titanic auctions expected ahead. Read More
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6. Eddie Murphy Receives AFI Life Achievement Award
Eddie Murphy received the AFI Life Achievement Award at the Dolby Theatre, earning a standing ovation from a star-filled crowd.
Takeaways
Star-studded tribute included Spike Lee, Chris Rock, Dave Chappelle, and Martin Lawrence.
Murphy reflected on career spanning Saturday Night Live, Beverly Hills Cop, and Shrek.
Tribute special will stream on Netflix May 31.
Murphy, 65, was honored for nearly five decades in entertainment, moving from stand-up to blockbuster film stardom. Presenters and peers highlighted his influence across generations.
The ceremony also raised over $2.5 million for AFI education programs, underscoring the institution’s nonprofit mission.
Murphy called the moment deeply emotional, saying he was grateful for the recognition and his lifelong collaborators.
Murphy’s legacy continues to span generations of comedy and film influence. Read More
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8. 🎉 This day in history
On This Day — April 20
First Pasteurization Test, 1862 – Louis Pasteur and Claude Bernard complete early pasteurization experiments, laying the foundation for modern food safety and preservation methods.
X-15 High-Altitude Flight, 1962 – NASA pilot Neil Armstrong flies the X-15 rocket plane to 63,250 meters, advancing research in high-speed and spaceflight technology.
Starship Test Flight, 2023 – SpaceX launches its Starship rocket in a historic first integrated test flight from Boca Chica, Texas, but the vehicle explodes minutes into the mission during early-stage testing.
Life Hack of the day
🧱Do a 2-minute Wall Sit
Want a quick way to wake up your muscles? Try doing a 2-minute wall sit. Lean your back against a wall and slide down until your thighs are parallel to the floor, then hold the position. This simple exercise activates your core, quads, and glutes, helping build strength and endurance fast.
That’s your morning brief. Now go show someone how smart you are. 🧠
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