Welcome to Markets Desk, your midday read on what's moving markets and minds.
Amazon Web Services CEO Matt Garman is pushing back hard on AI displacement fears, announcing plans to bring on eleven thousand software development engineer interns in two thousand twenty six. Garman says demand for engineering talent is actually accelerating, a striking counter-narrative to the layoff headlines dominating the sector right now.
Snap's Evan Spiegel is threading a different needle. The CEO is crediting artificial intelligence with writing roughly two thirds of the company's code, while simultaneously warning fellow tech leaders that they are badly underestimating the societal backlash building against the technology. Spiegel is essentially saying the industry is moving fast and not watching the rearview mirror closely enough.
And on the question of trust in institutions, economist Ryan Avent's new book argues that all the machinery of modern economies, from capital markets to scientific progress, runs on something deceptively simple: our collective faith in strangers. It's a framework worth sitting with, particularly at a moment when that faith is being stress-tested across nearly every institution in the developed world.
That's the tape. Markets Desk, signing off the floor.
