Good Morning. The Army can't find enough young people to enlist. So they stopped looking only at young people. We break down the new rules.
But first, here’s Pete Holmes new stand-up where he talks about eating ants, the 13th floor, and being a “silly, silly fun boy” (forwarded this email? Join 523K readers).
TOP STORY TODAY
Army’s Older Recruits
The U.S. Army raised its maximum enlistment age from 35 to 42, effective April 2026. The branch also removed waiver requirements for recruits with a single marijuana or drug paraphernalia possession conviction (NYT), as more states have legalized cannabis.
The changes follow recruiting shortfalls in 2022 and 2023, though the Army rebounded in 2024. The average recruit age has also risen, from 21.1 in the 2010s to 22.7 in fiscal year 2026.
Other branches set different age limits: the Air Force and Navy accept recruits over 40, while the Marine Corps caps enlistment at 28, with waivers available for those 29 and older. How has enlistment changed over time?
Recession Odds Rise
Major financial firms have sharply raised their U.S. recession probability forecasts, with Moody's Analytics at 48.6%, Wilmington Trust at 45%, EY Parthenon at 40%, and Goldman Sachs at 30%. Normal 12-month recession odds hover around 20%.
The Iran War is driving much of the concern. Gas prices have jumped $1.02 per gallon in the past month, a 35% increase. Oil shocks have preceded nearly every U.S. recession since the Great Depression. A prolonged conflict could push those odds significantly higher.
Fed Chair Jerome Powell last week rejected stagflation comparisons, but policymakers face competing pressures: a labor market that shed hundreds of thousands of jobs last year outside health care, alongside inflation that remains stubbornly elevated.
The New Rich
About 430,000 U.S. households are now worth $30 million or more, with 74,000 exceeding $100 million, according to Federal Reserve data. The top 0.1% have seen inflation-adjusted wealth grow more than 13-fold over 50 years, far outpacing all other groups (WSJ).
The wealth surge is largely stock and business-driven. Nearly 72% of top 0.1% wealth sits in equities, mutual funds, and private businesses. The S&P 500 has tripled in a decade, and private business valuations have followed. Two-thirds of $30 million-plus households are led by Baby Boomers (U.S. Wealth Held by the Bottom 50%).
Spending reflects the shift. Luxury brands like Hermès and Ferrari report strong sales while mid-tier retailers struggle. Private jet fractional ownership flights have risen markedly since the pandemic (More).
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TODAY’S LIFE ADVICE
What the Best Employers Do Differently
A new ranking by the Burning Glass Institute identifies 22 "platinum" companies excelling at hiring, growing, and retaining employees. They were evaluated across 12 million workers in 1,700 companies spanning 500-plus occupations.
Hire heavily out of college and rotate new grads through multiple roles early
Remove internal transfer barriers so employees can move laterally without manager approval
Teach soft skills formally, including leadership presence, posture, and communication
Film and critique employees during training exercises
Schedule career planning, goal-setting, and performance reviews at separate points across the calendar
P&G averages four different roles per employee in their first decade. Qualtrics filled 36% of openings internally last year. GM runs a full internal university covering both technical and leadership tracks.
Related: Finding the Best Place to Work.
When a Black Belt Gets Humbled
"I Feel Like a White Belt." Interviewer Lex Fridman is a BJJ black belt under Rick and Phil Migliarese. Then he rolled with Khabib Nurmagomedov. Khabib doesn't submit you. He drowns you. Scramble after scramble, just grinding pressure until your mind breaks.
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Fun Links
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Jay-Z’s exclusive GQ interview [Blog]
10 must-read books for guys [List]
Jon Bernthal’s audition for Rick Grimes [Video]
3 cheap Home Depot finds for kids [Video]
Comedian faces $27M lawsuit for joke [Blog]