KPMG is laying off 10% of their audit partners. Meta is also laying off 10% of their employees.
Widespread layoffs at major firms signal a broader reality: no white-collar job is truly secure. This is due to four forces: 1/ Increased competition driven by AI lowering barriers to entry 2/ The need for companies to heavily invest in technology (shifting budgets from labor to capital) 3/ Rapid automation outpacing job creation, and; 4/ ongoing corrections from overhiring during the COVID-era boom. Even top performers and senior leaders are vulnerable. Individuals should take responsibility for their career security by building networks, saving money, and exploring alternative income paths, emphasizing proactive planning to navigate inevitable, ongoing disruption in the workforce. Source: Robert Sterling
China is on track to become the world's dominant nuclear power producer:
China's total nuclear capacity is projected to reach a MASSIVE ~186 gigawatts if all planned projects are completed, surpassing the US at ~118 gigawatts and France at ~76 gigawatts, according to Global Energy Monitor. China currently ranks 3rd globally with ~61 gigawatts of installed nuclear capacity, well behind the US, at ~102 gigawatts. As a result, France, which generates ~69% of its electricity from nuclear power, the highest share of any major economy, is expected to fall from 2nd to 3rd place globally as China's buildout accelerates. The global nuclear expansion is centered on fission technology, which currently makes up ~10% of global electricity generation, with smaller modular reactors increasingly backed by both governments and private capital. The nuclear race is heating up. Source: Global Markets Investor
Trump just announced Iran called off the planned execution of 8 women protesters.
- 4 will be released immediately - 4 will serve one month in prison - Iran responded directly to Trump's personal request made yesterday ahead of negotiations - Trump says Iran's leaders "respected my request as President of the United States"
TESLA $TSLA JUST REPORTED EARNINGS
EPS of $0.41 beating expectations of $0.34 Revenue of $22.4B missing expectations of $22.64 Tesla says Cybercab, Tesla Semi and Megapack 3 are on schedule for volume production starting in 2026 Once in production, expect Cybercab to begin to replace existing Model Y fleet and will be largest volume vehicle in fleet over time Preparations for first large-scale Optimus factory will begin in Q2 Are expanding scope of manufacturing to include semiconductor fabrication in AI inference compute Source: Evan on X
Trump envoy seeks to replace Iran with Italy in upcoming World Cup
Source: FT
TRILLION DOLLAR BABY...
OpenAI's pre-IPO valuation has officially hit a record $1 trillion. Pre-IPO instruments trading onchain, backed 1:1 by SPV exposure on Jupiter, are providing a real-time proxy for the company’s implied IPO valuation. OpenAI’s implied valuation is now up +163% since October 2025. This comes as Anthropic is also nearing a potential $1+ trillion IPO and SpaceX is reportedly targeting $1.7+ trillion. The world has never had this many trillion-dollar private companies... Source: The Kobeissi Letter
In case you missed it... US Retail Sales hit another all-time high while Consumer Sentiment is at its lowest level in history.
Watch what they do, not what they say. Note however that retail sales chart looks less fancy when you consider real data (instead of nominal) Source. Charlie Bilello
Bitcoin is breaking...
BTC is pushing higher. The long-standing downtrend line has broken, and price is now trading well above the 100-day by a margin not seen in a long time. A clean close here or higher, and things could get very squeezy for a largely forgotten BTC. Source: TME, LSEG
