Business Insider

Inside Meta's Thursday all-hands, company leaders refused to rule out further job cuts beyond the upcoming 10% layoffs. Meanwhile, Zuckerberg addressed Meta's plan to monitor employees' keystrokes and mouse movements. And Meta AI chief Alexandr Wang made an appearance in a spectacular T-shirt. More in the scoop from Charles Rollet and me on Business Insider: https://lnkd.in/ewQdAk9t

There could be a rough road ahead for the stocks and the economy, Mohamed El-Erian says. The top economist and former co-CIO at PIMCO told me he saw challenges facing American exceptionalism — the idea that the US market and the economy will continuously outperform the rest of the world. That's because markets are still carrying "significant baggage" from the era of cheap money, he said, referring to when rates were ultra-low and ample liquidity was sloshing around the economy. Now, he sees a "limit" to how much the US can outperform its peers economically. Read the full story at Business Insider: https://lnkd.in/gssYKWyR #economy #markets #stocks

Rather than wait to find out if AI will replace her, Business Insider's Amanda Hoover built her replacement. A recent Goldman Sachs report estimates that about 7% of workers will be displaced by AI over the next decade. Too anxious to wait until 2036, Hoover wanted to see how close AI could get to taking her job as a reporter in 2026 — hoping it was many, many years away. She took an AI agent trained on her voice and directed it to take on the tedious and very best parts of her job. She would essentially put her feet up, letting Amanda Bot take the lead. The story she told her AI replacement to report — including fielding interviews with human sources — and write for her was on the nose: What role should AI have in journalism? Read more about the experiment on Business Insider: https://lnkd.in/ebyqze-Z (Credit: Amanda Hoover; Alyssa Powell/Business Insider) #ai #aibot #aiagent

SpaceX is gearing up for a highly anticipated IPO. Economist and IPO expert Jay Ritter says the valuation is hard to justify. https://bit.ly/4deU4it

Trump said the EU was "not complying" to a previous deal that had brought the tariff down to 15%. https://bit.ly/4w3ouM7

Spirit stock fell as much as 71% on Friday. Here's why. https://bit.ly/4w4wEUq

Software engineers are still important to Amazon, according to Amazon Web Services (AWS) CEO Matt Garman. At Amazon's What's Next with AWS event on Tuesday, Garman said Amazon is continuing to hire developers, even as AI tools reshape how they work. "I can tell you we are hiring just as many software developers as we ever had inside of Amazon," he said. "And in fact, I see the demand for that really accelerating." Garman said Amazon plans to bring on 11,000 software engineering interns in 2026 — a figure an Amazon spokesperson told Business Insider is in line with previous years. Read more about Garman's comments on Business Insider: https://lnkd.in/etDKXYeh (Credit: Getty Images) #aws #amazon #softwareengineers

America's real estate market is facing another cruel summer. For the second year in a row, sellers, agents, and analysts are mourning a spring sales bump that failed to materialize. And once again, they're pointing the finger at geopolitical turmoil: this time, it's the war in Iran, which sent borrowing rates skyward and made everyday items, notably gas, more expensive. "The timing of all this couldn't have been worse from a housing perspective," says Rick Palacios Jr., director of research at John Burns Research and Consulting. The past week has shown some encouraging signs of a sales pickup, and agents are still holding out hope for a turnaround in time for the typically busy summer season. But even conservative national forecasts have been revised downward, and mortgage-rate volatility remains a big question mark. Any growth right now is "very fragile," Mike Simonsen, the chief economist at Compass, tells me. The situation varies significantly by market, of course. In a recent survey of 700 Coldwell Banker agents, the vast majority in the Midwest and Northeast said their areas were sellers' markets, compared to a mere 13% in the South and 22% in the West. What are you seeing in your market? Let me know in the comments. You can read my story for Business Insider here: https://lnkd.in/eAM9i_5f Art by Tyler Le

High demand for Apple's Mac Mini, driven by AI capabilities, is straining the supply chain, CEO Tim Cook said on Thursday's earnings call. https://bit.ly/48z44Aq

Mohamed El-Erian told Business Insider that the end of the cheap money era will pose problems for markets and the economy. https://bit.ly/49kzwmc