It’s Monday, June 15. This is The Front Page, your daily window into the world of The Free Press—and our take on the world at large. Today: Tyler Cowen on what the Anthropic-Trump administration showdown is really about. Joe Nocera on why SpaceX stock went to the moon. And much more.

But first: Trump declares peace.

“The Deal with the Islamic Republic of Iran is now complete. Congratulations to all!” So wrote President Donald Trump on Truth Social on Sunday evening.

According to the president, “This Great Deal will bring Peace and Security to the whole region.” The deal is really a memorandum of understanding to negotiate the terms of a lasting peace in the next 60 days. The agreement is set to be signed Friday, and while its terms have not been published, the fighting will stop and Iran will open the Strait of Hormuz.

“Ships of the World, start your engines,” wrote Trump. “Let the oil flow!”

The deal may be a welcome reprieve for the global economy—but what will it really entail? For an initial reaction to this important moment, we turn to Eli Lake. His advice: “Don’t break out the ticker tape just yet.”

Read his full analysis on an agreement he thinks does little more than “temporarily solve a problem Trump’s war helped create”:

Whether or not it delivers lasting peace—let alone peace on favorable terms to the U.S. and its allies—this agreement is undoubtedly a crucial moment in this conflict. We used the occasion to ask a range of analysts and thinkers a big-picture question: Has this war been worth it? To find out how Aaron MacLean, Elliott Abrams, Martin Gurri, Sohrab Ahmari, Michael Oren, Roya Hakakian, and Elliot Ackerman answered, click below:

Tyler Cowen: A Dangerous Turn in AI Regulation

Tyler Cowen

The U.S. government just pulled the plug on Anthropic’s most powerful AI model, ordering it withheld from non-American users after saying it had been “jailbroken”—a claim the company disputes. Tyler Cowen argues the move is a preview of something far more consequential: AI nationalism. As America wields its AI kill switch, the rest of the world is starting to ask whether it can afford to depend on American-made AI at all. Read full story

Arthur Brooks: The Knicks Just Made the Case for Sports Fandom

Arthur Brooks

The Knicks just won their first NBA championship since 1973, and New Yorkers poured into the streets to celebrate—with friends, with neighbors, with anyone. Our resident happiness expert Arthur Brooks was watching these scenes and taking notes. The social science, says Arthur, backs up what the celebrations suggest—sports fans are happier. They’re also more civic-minded, and better at crossing political divides. Even if, as with the Knicks, they have to endure decades without a trophy. Read Arthur on why rooting for a team is good for you—and the country. Read full story

Why the SpaceX IPO Went to the Moon

Joe Nocera

Elon Musk’s SpaceX went public this week at a $2 trillion valuation, despite $5 billion in losses last year and a prospectus that promises a “a lunar economy.” Joe Nocera used to roll his eyes at stocks like this, but in this case, he has a theory. And it’s all about the brilliant entrepreneur at the heart of the story. Read full story

Coleman Hughes vs. Peter Beinart Debate: Should Israel Be a Jewish State?

Coleman Hughes

Peter Beinart grew up a committed Zionist—but he’s not anymore. The American Jewish writer is now a vicious critic of Israel, promoting some of the most extreme arguments against the Jewish state. Beinart is this week’s guest on “Conversations with Coleman.” Coleman debates the author of “Being Jewish After the Destruction of Gaza” on the right of return, the one-state solution, whether Iran poses an existential threat to Israel, and much else. Listen on

With America’s 250th birthday just a few weeks away, we’re honoring some of the Great Americans who shaped it. Today, Mark Gimein remembers Edwin Land, the Polaroid founder who, as Mark writes, “was part scientist, part inventor, and part showman.” He lived by two mantras: “Never go to sleep with a hypothesis untested,” and “every problem can be solved with the things in the room at the time.”