Good morning. Many of their colleagues were downsizing and preparing for their “empty nest” years. But one couple in their mid-40s moved in the opposite direction: they bought a bigger house. They don’t always use the space, the cleaning is endless, and the bills are higher. A decade later, they’re convinced they made the right decision.
In today’s big story, we all face an AI-supercharged job market. Job seekers shared how they’re trying to stand out, while hiring managers revealed how they’re adapting to identify real talent.
What’s on deck:
Markets: Are you struggling as a day trader? This psychologist might know why.
Tech: It’s not just Big Tech that’s clamoring after AI engineers. Everyone wants to date them.
Business: Like their customers, millennial-coded brands are facing the cold, hard reality of aging.
But first, hand-delivered is hard to ignore.
If this was forwarded to you, sign up here.
The big story
Hiring is going old school
Getty Images; Tyler Le/BI
Perhaps you did everything right.
You spent hours researching the company. Hours more rewriting your résumé. The cover letter? Polished, professional, and personal. You click “submit.”
And wait.
The days spin into weeks. The inbox never dings.
You’re not alone. White-collar hiring has slowed, layoffs feel de rigueur, and many who do have jobs are clinging onto them — whether they’re happy or not.
“My dream job might exist,” a frustrated Gen Z job seeker told BI. “But I’m one of 400 people applying for it.”
The issue cuts both ways.
For hiring managers, their dream employee might also exist. But amid a crowd of AI-generated applications, they may never find them.
BI spoke with people on either side of the hiring divide. Job seekers shared how they’re trying to stand out, and employers revealed their strategies for spotting real talent.
They’re going old school.
Job seekers are getting creative, with some finding success going back to basics: handing in a paper résumé in person.
Businesses are adapting, too. With AI tools now helping with résumés, cover letters, and even live interviews, measuring a candidate’s suitability for a role can be challenging.
Is this the person we want to hire — or just the AI that coached them?
Victoria Thomas, the chief business officer of a Porsche customization and racing company, said AI-crafted résumés can make candidates seem more qualified than they really are. To combat this, her team flies candidates to their Wisconsin office for in-person interviews and tryouts.
The workplace is changing — and so are the rules for job searching. BI has tapped HR managers, recruiters, career coaches, and executives for their best advice on everything from crafting a standout résumé to networking your way to a final offer.
So, before you send off that job application, you can find everything you need to gain an edge here.
3 things in markets
Courtesy of Kairan Quazi
1. Meet the 16-year-old prodigy at Citadel Securities. Kairan Quazi, a quant developer at the New York trading giant, caught the world’s attention when he landed a job at SpaceX at age 14. He told BI why he switched from Big Tech to quant finance.
2. What makes (and breaks) a day trader? Andrew Menaker, a psychologist who coaches traders on and off Wall Street, has an answer. He said ego and aggression are traits that lead traders astray, and shared tips for those trying to get in on the trade.
3. Where to invest if the market goes south. If you’re holding cash right now, it’s a good idea to have a strategy for buying the dip in case a bear market hits. Two rules of thumb: Don’t enter the market all at once, and don’t panic. Here’s where experts suggest investing.
3 things in tech
Getty Images; Alyssa Powell/BI
1. In Silicon Valley, the ladies want a tech nerd. Professional matchmakers in the Bay Area — whose fees range from $5,900 to $500,000 — told BI more women are looking for AI engineers, thanks to their high salaries and job stability. It’s not clear how long interest will last, but for now, the AI boom is making nerds sexy.
2. The startup turning Elon Musk’s DOGE-fueled chaos into cash. Legalist, a startup founded by one of Peter Thiel’s fellows, provides gap financing for vendors awaiting payouts from the federal government. Here’s how they cashed in on the havoc DOGE wrecked.
3. How these Gen Zers beat the odds to score roles in tech. The industry is hemorrhaging entry-level jobs thanks to AI and corporate cost-cutting. Young workers told BI how they scored roles after casting a wide net or networking around the clock.
3 things in business
Getty Images; Tyler Le/BI
1. Millennial brands hit middle age. Glossier is at Sephora. Mideas are having holes drilled in them. What once seemed like an industry adjustment toward direct, values-centered relationships with consumers has been exposed as a marketing ploy — and today, these brands are either dying or becoming boring companies, BI’s Juliana Kaplan writes.
2. Spotify’s ad business is laggy. Advertising made up 11% of its business in June, a far cry from its 20% target. “We have simply been moving too slowly,” CEO Daniel Ek said on the company’s latest earnings call. Industry insiders said poor customer service and low podcast ad rates were also factors.
3. The AT&T CEO’s blunt memo is a test case for leaders. Since BI was the first to report on AT&T CEO John Stankey’s viral memo to managers, hundreds of readers, including leaders, have weighed in. BI spoke to current and former CEOs for their thoughts on the memo.
In other news
- They fled cities in the pandemic exodus, seeking a cheaper cost of living, safety, and more. Here’s how it’s panned out.
- Why congressional stock-trade ban efforts are about to heat up.
- A former consultant built a seven-figure Amazon business selling septic pods. He explains why sellers should avoid “sexy, fad-driven products.”
- Inside BYD’s plan to rule the waves.
- I experienced “quiet cracking” 15 years ago, before it was a buzzword. It’s extremely self-destructive behavior.
- Disney adults say judgment from their own community hurts more than jeers from the haters.
- I landed my dream job without even applying for it. Here’s how I did it and my advice for other job seekers.
-
Three tips for employees to manage their wellbeing in a challenging job environment, from EY’s Chief Wellbeing Officer.
What’s happening today
- National Association of Home Builders housing market index.
-
Former attorney general William Barr appears at closed-door House Oversight committee deposition on Jeffrey Epstein.
Hallam Bullock, senior editor, in London. Grace Lett, editor, in New York. Meghan Morris, bureau chief, in Singapore. Akin Oyedele, deputy editor, in New York. Amanda Yen, associate editor, in New York. Lisa Ryan, executive editor, in New York. Dan DeFrancesco, deputy editor and anchor, in New York (on parental leave). Kiera Fields, editor, in London.
