The Megyn Kelly Show
The Megyn Kelly Show
May 4, 2026

Inspirational Derby Winner, Viral Tucker-NYT Interview, and Blake-Baldoni Trial, w/ Emily Jashinsky

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Quick Read

This episode unpacks the dramatic Kentucky Derby upset, Tucker Carlson's controversial interview on Nick Fuentes, the Daily Wire's financial struggles, escalating conflict in the Strait of Hormuz, and the explosive details of the Blake Lively-Justin Baldoni Hollywood lawsuit.
Kentucky Derby's Golden Tempo delivered a historic underdog victory, driven by the first female trainer and an emotional jockey.
Tucker Carlson argues figures like Nick Fuentes are distractions used by the 'uni-party' to avoid real economic and foreign policy debates.
The Blake Lively-Justin Baldoni lawsuit exposes alleged celebrity manipulation, with Sony reportedly calling Lively a 'terrorist' for her on-set behavior.

Summary

Megyn Kelly and Emily Jashinsky discuss a range of current events, starting with the inspiring underdog victory of Golden Tempo at the Kentucky Derby, highlighting the first female trainer, Sheree Duvo, and jockey Jose Ortiz's emotional win. They then analyze Tucker Carlson's viral interview with Lulu Garcia-Navarro, focusing on his argument that figures like Nick Fuentes are distractions from core economic and foreign policy issues, and criticizing the use of labels to silence debate. The conversation shifts to the Daily Wire's recent layoffs, with Kelly attributing their struggles to 'mission creep,' poor investment in a paywalled movie, and an 'Israel first' editorial stance. The hosts also cover the escalating conflict in the Strait of Hormuz, its economic impact on gas prices, and the political fallout for President Trump. Finally, they dissect a Vulture article detailing the contentious Blake Lively and Justin Baldoni lawsuit, revealing allegations of Lively's manipulative tactics, celebrity network leveraging, and Sony calling her a 'terrorist,' framing it as a battle of narratives akin to the Amber Heard-Johnny Depp trial.
This episode provides a critical lens on how narratives are shaped and weaponized in media, politics, and pop culture. It highlights the economic and political consequences of foreign policy decisions, the evolving landscape of conservative media, and the personal and professional stakes involved in high-profile disputes, offering insights into power dynamics and public perception in a hyper-connected world.

Takeaways

  • Golden Tempo, a 23-to-1 long shot, won the Kentucky Derby after being in last place, marking the first time a female trainer (Sheree Duvo) won the race.
  • Jockey Jose Ortiz achieved his first Derby win after 10 attempts, narrowly beating his brother Irad Ortiz who rode the second-place horse, Renegade.
  • Tucker Carlson views figures like Nick Fuentes as 'incredibly useful' distractions, deployed by the political establishment to divert attention from bipartisan consensus on economic and foreign policy issues like endless wars.
  • Megyn Kelly attributes the Daily Wire's mass layoffs to 'mission creep' into non-core businesses (movies, razors, chocolate) and an 'Israel first' editorial stance, arguing it alienated parts of their audience.
  • The conflict in the Strait of Hormuz is escalating, with US forces engaging Iranian boats, leading to rising gas prices and projected negative impacts on the US economy and President Trump's approval ratings.
  • A Vulture article reveals alleged manipulative tactics by Blake Lively and Ryan Reynolds in their dispute with Justin Baldoni, including leveraging celebrity connections and Sony reportedly calling Lively a 'terrorist' due to her on-set behavior.

Insights

1Golden Tempo's Historic Kentucky Derby Victory

Golden Tempo, a horse with 23-to-1 odds, came from last place to win the Kentucky Derby. This marked the first time a woman, Sheree Duvo, trained a Derby winner and only the second woman to win any Triple Crown race. Jockey Jose Ortiz also secured his first Derby victory after ten attempts, narrowly beating his brother Irad Ortiz.

Golden Tempo, who faced 23 to1 odds and who was literally in last place earlier in this race... had a stunning come from behind victory, narrowly beating out Renegade... Sheree Duvo is officially the first woman trainer to win the Kentucky Derby and just the second female trainer to win any Triple Crown race... Jose came up short his first 10 times competing in the Derby before finally winning gold on Saturday.

2Tucker Carlson's 'Distraction' Theory on Nick Fuentes

Tucker Carlson argues that figures like Nick Fuentes are 'incredibly useful' for people with actual power to divert conversation from critical economic and foreign policy issues where there's a bipartisan consensus in Washington. He frames the focus on Fuentes as a 'divide and conquer strategy' to prevent public scrutiny of the 'uni-party's' actions.

Fuentes himself is a distraction from the conversations that matter because power is displayed through the structure of the economic system globally and per country and in the use of force... Fentes is incredibly useful for people with actual power to divert the conversation to something that is both irrelevant and divisive because it's a divide and conquer strategy.

3Daily Wire's Financial Struggles Attributed to 'Mission Creep' and 'Israel First' Stance

Megyn Kelly suggests that the Daily Wire's recent mass layoffs are due to several factors: a significant investment in a paywalled 'dragon movie' that couldn't recoup costs, 'mission creep' into diverse product lines (razors, chocolate, children's programming) away from their core news mission, and Ben Shapiro's 'Israel first' coverage, which Kelly believes alienated parts of their conservative audience.

They invested tens of millions of dollars in this dragon movie which they they kept behind a payw wall... They expanded into they sort of like you know they had mission creep Emily, you know, like they now they're selling razors and they're selling chocolate... and yes indeed the Israel first nature of Ben's coverage in particular I think they'd be fine.

4Escalating Iran Conflict Impacts US Economy and Politics

The Strait of Hormuz conflict is escalating, with 15,000 US service members involved in 'Project Freedom' to guide commercial vessels, leading to exchanges of fire with Iranian forces. This has caused a surge in gas prices (up to $4.45/gallon nationally, $5.59 in Connecticut), threatening to wipe out airline profits and potentially remaining elevated for months, which is projected to negatively impact President Trump's approval ratings and Republican chances in the midterms.

15,000 US service members are now involved in what we're calling project freedom... The US military blew up six small Iranian boats... The price of gasoline per gallon is now up at what? 4 what is it? You guys remind me? 445... The Street of Horus is expected to remain effectively closed for weeks, raising the prospect of prolonged high energy prices... 77% say Donald Trump [is to blame for gas prices].

5Blake Lively-Justin Baldoni Lawsuit Reveals Celebrity Manipulation and Industry Dysfunction

A Vulture article details the contentious lawsuit between Blake Lively and Justin Baldoni, alleging Lively and Ryan Reynolds leveraged their celebrity network (including Taylor Swift and Matt Damon) to 'crush' Baldoni and save Lively's career. Sony reportedly called Lively a 'terrorist' due to her on-set behavior and demands, particularly regarding sex scenes, which she allegedly reframed as 'pornographic' to accuse Baldoni of 'Me Too-like behaviors.'

What I learned is that you should never work with Blake Lively... Sony... called her a terrorist... She tried to bully Justin Baldon... Ryan Reynolds... calls him a malignantly vain sociopathic fulminist... Lively expressed discomfort with a number of these proposals... She told Baldoni that some of the scenes... were starting to feel pornographic.

Bottom Line

The 'cancel culture' phenomenon and the weaponization of labels like 'bigot' or 'anti-Semite' are not just social issues but strategic tools used by powerful entities to discredit opposition and shut down substantive arguments, particularly against those challenging bipartisan consensus on economic or foreign policy.

So What?

This tactic prevents genuine debate and allows powerful institutions to maintain control by diverting public attention to emotional, divisive, and often irrelevant personal attacks, rather than addressing systemic issues.

Impact

For independent media or political figures, understanding this dynamic presents an opportunity to expose these manipulative tactics, re-center discussions on core policy, and build trust with audiences who feel 'lied to' by mainstream narratives.

The celebrity world, often perceived as glamorous, is rife with intense power struggles and calculated manipulation of public perception, where personal disputes can escalate into multi-million dollar lawsuits involving extensive PR campaigns and leveraging of influential networks.

So What?

This reveals the transactional and often ruthless nature of Hollywood, where 'wokeness' and 'allyship' can be performative tools used to gain advantage or discredit rivals, rather than genuine principles.

Impact

For content creators, there's an opportunity to produce 'behind-the-scenes' or 'unfiltered' content that exposes these dynamics, appealing to audiences tired of curated celebrity images and seeking more authentic, critical perspectives on pop culture.

The public's blame for high gas prices disproportionately falls on the sitting president, even within their own party, indicating that economic pain at the pump is a potent political force that can override other policy achievements or justifications for military action.

So What?

This highlights the vulnerability of political leaders to immediate economic indicators, especially those affecting daily life. Justifying high prices as 'patriotic duty' for foreign policy goals is largely ineffective.

Impact

Political strategists should prioritize tangible economic relief and clear communication on its impact, recognizing that abstract foreign policy justifications are unlikely to sway voters experiencing direct financial hardship.

Key Concepts

Divide and Conquer (Political)

This model describes how political establishments or powerful entities use divisive figures or issues (like Nick Fuentes) to divert public attention and energy from core, bipartisan policy failures (like economic programs or foreign policy consensus), thereby maintaining their power and avoiding accountability. The public argues over 'blacks or whites' instead of the 'economic program and the foreign policy program'.

Algorithmic Social Media Epistemology

This concept, building on Neil Postman's 'Amusing Ourselves to Death,' suggests that the current social media-driven information environment prioritizes memes, short clips, and emotional reactions over deep, contextual understanding. This makes it easier to use labels and distractions, as people consume information without full context, leading to manipulated perceptions and weaponized narratives.

Lessons

  • Critically evaluate political discourse: Be wary of immediate labels (e.g., 'Nazi,' 'bigot') used to discredit individuals or arguments, as they may be strategic diversions from substantive policy debates.
  • Support independent media: Seek out long-form content and diverse perspectives to avoid the 'clip ecosystem' and algorithmic manipulation that can distort reality and foster division.
  • Understand economic impacts of foreign policy: Recognize how international conflicts, even those framed as distant, can directly affect personal finances (e.g., gas prices) and influence domestic political outcomes like elections.

Notable Moments

Golden Tempo's come-from-behind victory at the Kentucky Derby, winning with 23-to-1 odds after being in last place.

This moment captivated audiences as a classic underdog story, celebrated for its unexpected triumph and the historic achievement of its female trainer, Sheree Duvo, and jockey Jose Ortiz.

Ryan Reynolds' text message describing Justin Baldoni as a 'malignantly vain sociopathic fulminist' to Matt Damon and his wife.

This private communication, revealed in the Vulture article, illustrates the intense personal animosity and alleged character assassination attempts by Blake Lively and Ryan Reynolds against Baldoni in their legal dispute.

Sony reportedly referring to Blake Lively as a 'terrorist' due to her on-set behavior and demands during the production of 'It Ends With Us.'

This revelation underscores the extreme level of conflict and alleged unprofessionalism that characterized Lively's involvement in the film, highlighting the severe impact of her actions on the production and her collaborators.

Quotes

"

"Golden Tempo and Sheree Demo MAKE HISTORY IN THE KENTUCKY DERBY OVER RENEGADE IN A FINAL TIME OF 202.27 seconds."

Race Announcer
"

"Sheree Duvo is officially the first woman trainer to win the Kentucky Derby and just the second female trainer to win any Triple Crown race."

Megyn Kelly
"

"If you're ever going to lose, you lose to your brother."

Mike Repole (Renegade's Owner)
"

"Fuentes himself is a distraction from the conversations that matter because power is displayed through the structure of the economic system globally and per country and in the use of force."

Tucker Carlson
"

"It's easier to call somebody a name and to call them a bigot because it immediately stigmatizes and ostracizes them than it is to actually grapple with an argument they're advancing."

Tucker Carlson
"

"I wish I hadn't done the Fentes interview because... it was totally not worth it. I mean, it was like kind of interesting, I guess, but it was used as I added to the distraction. What I really wanted to talk about was where we were going in this war with Iran."

Tucker Carlson
"

"He calls him a malignantly a malign easy for me to say malignantly vain sociopathic fulminist with almost no sense of boundaries or shame."

Ryan Reynolds (via Megyn Kelly)
"

"Sony had referred to Blake Lively as, you know, as a terrorist."

Brian Freedman (Justin Baldoni's Lawyer)

Q&A

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