🎙️ Are We In A Bubble?

[5 minutes to read] Plus: The $2.6 billion robot startup

By Matthew Gutierrez and Shawn O’Malley

Narratives aren’t reality. That’s the takeaway with so many things in markets, with tech layoffs being the most recent example. For over a year, headlines about mass tech layoffs looked like the harbinger of a looming recession.

Yet, focusing on layoff headlines hardly tells the whole story. At Big Tech employers, recent layoffs have barely made a dent in their total workforces, which have expanded hugely since 2018.

💭 If anything, they look more like a natural pullback after years of aggressive hiring than a full-blown recession indicator.

Our Chart of the Day shows more.

Matthew & Shawn

Here’s today’s rundown:

Today, we'll discuss the biggest stories in markets:

  • Ray Dalio on stock market bubble speculation

  • The robot startup valued at $2.6 billion

This, and more, in just 5 minutes to read.

POP QUIZ

Bitcoin is on another roller coaster ride. Approximately how much is it up over the past year? (The answer is at the bottom of this newsletter!)

Chart(s) of the Day

Tech layoffs keep coming, but headcounts barely budge — from the WSJ

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