Recession Influencer

PRESENTED BY INCOGNI

It’s Monday, Future Party. If you went to Indio, California this past weekend for the music pilgrimage known as Coachella, you probably got caught in the mind-boggling traffic jam just to get into the car-camping area on Friday. There were reports that people waited in line for 12 hours in bumper-to-bumper traffic. That sounds like a Coachellapocalypse… but we hope the vibes made you forget all about that nightmare.

Software company Palantir, which mostly specializes in intelligence-gathering and military applications, is launching a new internship program that hopes to recruit the brightest minds right out of high school.

The Big Picture: Higher education is at a crossroads, with student debt reaching historic highs and a job market that isn’t rewarding the hefty expenses. So, everyone, from employers to prospective students, is searching for alternatives. By pinpointing promising job candidates right out of high school, companies like Palantir could mold people into the exact employees they’re looking for.

Behind the Hires: Palantir’s Meritocracy Fellowship is looking for candidates who want to work rather than go to an Ivy League school.

The Future: Palantir CEO Alex Karp has been on a college-trolling tour as of late, saying on CNBC’s Squawk Box that “everything you learned at your school and college about how the world works is intellectually incorrect” (a potentially incendiary claim that’s not out of step with current White House policy). Karp claims that elite college admissions are compromised, so the internship is awarded “based solely on merit and academic excellence.”

Considering the number of Palantir employees who’ve become successful entrepreneurs in their own right, many high school grads may see the fellowship as a path worth betting on.

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The “underconsumption trend” — which predates the current financial rollercoaster — is taking off, as persistent inflation, confusing tariff policies, and the rising cost of living continue to weigh on Americans’ finances.

Why It Hits: Everyone is looking for hacks to save a buck, so if influencers have some legit tips for scoring deals, saving money, and maximizing wages, you can bet your bottom dollar that the views are going to rack up. It’s the era of financial doomscrolling.

Behind the Curtain: In her Equality newsletter for Bloomberg, Kelsey Butler scopes the market of the newly minted “recession influencer.”

Checkout: It’s no surprise that people are looking for financial advice (or catharsis) right now — Citigroup says tariffs will affect pretty much everyone, and McKinsey reports that consumers of all income levels are planning on cutting their spending. But the hardest hit will be those on the lower end of the income spectrum. A Morning Consult survey found that half of those making $50,000 or less are already planning to cut down on their groceries.

Americans are really feeling that penny pinch.

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91.1% of you voted Yes in Friday’s poll: Have you ever gone camping?

“In 1977, my husband and I quit our jobs, sold everything, bought a van, and camped across America from June to the end of October. Never slept in a bed but still enjoyed this beautiful country. I encourage everyone to do this!”

“Almost no summer was complete without a campsite growing up in the Ozarks (Missouri and Arkansas). I learned a lot of my survival skills from being out in the woods.”

“I’d rather camp in a Marriott, but my wife has taught me to appreciate sleeping under the stars.”

Let’s keep the conversation going. Join our Poll Of The Day newsletter, so your opinions can shine. Discover how your views line up with your peers’, check out cool insights, and have some fun. It’s data with personality.

📺 TV writing jobs fell by 42% during the 2023-2024 season, according to the Writers Guild of America.

🎓 Hollywood talent agency Gersh created a program that connects college students with agency employees and clients.

🎮 Nintendo is getting crafty in getting the Switch 2 to consumers, as tariffs make shipping the console more complicated.

📱 YouTube is considering adding a feature that would let users set a daily timer for how long they can spend watching Shorts.

🫰 Digg is allowing early users to reserve their usernames on the platform for a $5 fee.

💰 TikTok hopes to keep creators on the platform by offering a new, invite-only rewards program to create content for certain niches.

🗑️ So-called “trashcore” is taking over young Hollywood. The skinny: try harder, looking like you didn’t try at all.

🤖 DoorDash will start rolling out sidewalk-delivery robots, starting with LA and Chicago.

🥤 Travis Scott has joined the Erewhon-collab rosters with a line of health shots.