Good Morning. What happens when cutting jobs boosts your stock? We break down the rise of mega layoffs.
We also include Obama center debut, San Diego water surplus, a rejected 007 song, and Barneys reboot plans (forwarded this email? Join 523k readers).
TOP STORY TODAY
Layoff Wave Spreads
Large-scale layoffs are accelerating across major companies in 2026, with firms like Snap, Block, Oracle, and Amazon cutting thousands of jobs in recent months as executives shift toward sweeping workforce reductions.
Companies are increasingly opting for deep, one-time cuts instead of gradual layoffs, often receiving investor approval. Snap shares rose 8% after announcing 1,000 job cuts, while Block’s stock rebounded after eliminating about 4,000 roles, or roughly 40% of staff (see the AI layoff playbook).
Executives cite pandemic overhiring and rising technology costs as key drivers, while some analysts expect companies to cut 20% to 50% of teams by 2026. Meanwhile, unemployment among college-educated workers under 35 has surpassed 4.1%, signaling shifting labor market dynamics.
Netflix Leadership Shift
Netflix co-founder Reed Hastings will leave the company’s board in June 2026, choosing not to seek re-election after nearly three decades guiding the streaming company’s evolution from DVD rentals to a global entertainment platform.
Hastings founded Netflix in 1997 and served as CEO for 25 years before transitioning leadership to Ted Sarandos and Greg Peters. The company reported $12.25 billion in quarterly revenue, up 16.2%, and $5.28 billion in net income, up nearly 83%.
The announcement came alongside weaker margin guidance that sent shares down more than 8% after hours. Netflix recently abandoned a $72 billion bid for Warner assets, and leadership says its strategy will focus on content, technology, and monetization. See Netflix’s culture memo.
Obama Center Opens
The Obama Presidential Center will open June 19 in Chicago, marking the debut of a long-awaited museum dedicated to the 44th president and setting new records for cost, timeline, and admission pricing.
Adult tickets are set at $30, about 59% higher than the average presidential library price from Kennedy through George W. Bush. The project cost reached roughly $850 million, nearly triple its initial $300 million estimate, with a 19.3-acre campus.
The center is expected to draw about 700,000 visitors annually and serve as an economic driver for the surrounding area. Illinois residents receive discounts and free Tuesday access, while broader plans include community spaces and public programming (Photos, Video).
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TODAY’S LIFE ADVICE
Use Pain to Build Purpose
Rock bottom isn’t the end. It’s raw material. The hardest thing you’ve lived through often becomes the exact way you help someone else.
Dan Martell’s shift is simple: don’t fix your whole life. Just win tomorrow. One decision. One opposite action. Momentum beats overthinking.
Identify what you’re feeling right now
Do the opposite in one small action
Ignore long-term pressure, focus on 24 hours
Look for how your pain can serve others
Purpose isn’t found. It’s built from what broke you.
Want to see how he rebuilt from nothing? This one hits different.
Upgrade Habits, Not Willpower
Most people fail to change habits because they try to eliminate them. The brain doesn’t delete patterns. It rewires them. Keep the reward, swap the routine, and you’ll actually stick.
Charles Duhigg’s habit loop explains it simply: cue, routine, reward. The cue and reward stay powerful. Your job is to redesign the middle.
Identify the trigger (time, emotion, place)
Keep the same reward (relief, dopamine, escape)
Replace the action with a better one
Start small and repeat daily
The fastest way to change your life isn’t discipline. It’s smarter substitution.
TRENDING
5 Stories
▲ Amazon price-fixing faces new scrutiny as unsealed records detail alleged pressure on sellers across rival platforms
▲ San Diego water sells surplus supply as desalination plant produces 56,000 acre-feet annually for 500,000 people
▲ Cybertruck sales inflated as SpaceX buys 1,279 vehicles, accounting for 18% of 7,071 US registrations
▲ Nolan Odyssey debuts footage at CinemaCon, showcasing Trojan Horse scene from highly anticipated 2026 release
▲ Barneys reboot returns with planned Florida store opening in 2027 after 2020 bankruptcy closure
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Fun Links
Lana del Rey’s rejected 007 song [Music]
Using OpenClaw to sell swimming pools [Video]
The thing about Count Chocula [Comedy]
How to fight a medical bill [Video]
The official Wishbone documentary [Video]
A better way to accept praise [Video]
Ghost Murmur: how they found the pilot [Video]
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