Episode 595: Neal and Toby talk about the trend of entry-level white-collar jobs being replaced by AI, which has put recent college graduates in a losing situation. Then, President Trump says he plans to double steel and aluminum tariffs to 50%, adding fuel to the trade war fire. Also, solo travelers are being charged higher fares by airlines. Meanwhile, Taylor Swift and no income tax states for NHL players are the winners of the weekend. Finally, the biggest news you need to know this week. Subscribe to Morning Brew Daily for more of the news you need to start your day. Share the show with a friend, and leave us a review on your favorite podcast app. LinkedIn will even give you a $100 credit on your next campaign so you can try it yourself. Go to LinkedIn.com/MBD Terms and conditions apply. Only on LinkedIn Ads. Listen to Morning Brew Daily Here: https://www.swap.fm/l/mbd-note Watch Morning Brew Daily Here: https://www.youtube.com/@MorningBrewDailyShow 00:00 - Hamptons Rentals Down 03:10 - Anthropic CEO’s Warning 08:20 - Tariffs on Aluminum and Steel 12:20 - Airline Solo Traveler Fees 17:15 - Winners of the Weekend 23:30 - Week Ahead
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Good morning, Brew Daily Show. I'm Neil Freiman. And I'm Toby Howell. Today, airlines got exposed for charging solo travelers more than groups for the same exact ticket.
Ben, is AI really going to take your job? One major CEO certainly thinks so. It's Monday, June 2nd. Let's ride.
Good morning and welcome back to the week. Apparently the 1% are not feeling 100%. A new report from CNBC stated that rentals in the Hamptons this summer are down nearly a third from the same period in the last few years. The picture is even bleaker at the ultra high end of the market where the Hamptons rental business is down between 50% and 75%.
The lower demand has prompted some listings to lower their prices by 10 to 20% to save their summer. Toby, either this is a sign of economic uncertainty or everyone is finally realizing the Jersey Shore is just better.
Or you put on your meteorologist hat and realize that it's been cold and rainy in May, so maybe people are just delaying their vacations a little bit. I tend to think that maybe It also could be a recession indicator, though, because the demand is just simply not there.
And if you zoom out to the broader second home market, homebuyers took out just 86,000 mortgages for second homes last year per Redfin. That is down 66% from the pandemic homebuying peak. It was the lowest since 2018.
So yes, you can bust out the world's tiniest violin for these one percenters, but also possibly a recession indicator if the wealthiest are clamming up and holding onto their cash a little bit more. And now a word from our sponsor, LinkedIn ads. Neil, you ever get stuck in zone nine on a flight?
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