Hello, N2K’ers!

Of course this week’s world-famous News Haiku™ competition is about the jobs numbers. Send me a haiku on the subject by Thursday at noon Eastern. Winner gets the glory!

Now, let’s talk about the news you Need2Know?

—Matt Davis, Need2Know Chedditor

News You Need2Know

• Long distance drone delivery hovers closer

• LinkedIn says labor market is ‘very fragile’

• ChatGPT adds ‘distress detection’ for psychosis

• What’s fueling tech stocks’ momentum?

• New York Post to launch an LA edition

What’s the stock market up to, eh?

$SPX ( ▲ 0.67% ) $DJI ( ▲ 0.29% ) $NDX ( ▲ 1.11% )

Companies mentioned in today’s newsletter*

$AMZN ( ▲ 3.61% )  $LNKD ( 0.0% )  $NVDA ( ▲ 0.49% )  $AVGO ( ▲ 2.82% )  $AMD ( ▼ 5.63% ) OpenAI $ETOR ( ▼ 3.05% )  $NWS ( ▲ 0.45% )  

Long distance drone delivery hovers closer

Good news for those of us wanting to get our groceries delivered by Drone: The U.S. government is taking a significant step toward expanding the use of drones with a proposed federal rule unveiled this week. Under the new rule, drones weighing up to 1,320 pounds with collision-avoidance technology could be used within 400 feet of altitude, ensuring safety near airports and in aviation spaces.

Designed to simplify operations for commercial drone companies, the rule aims to eliminate the arduous waiver process for drones traveling beyond the operator’s line of sight. This could unlock transformative possibilities for industries ranging from agriculture to infrastructure inspection.

“This draft rule is a critical step toward enabling drone operations that will enhance safety, transform commercial services, and strengthen public safety with drones as a force multiplier,” said Michael Robbins, CEO of the Association for Uncrewed Vehicle Systems International.

Currently, 657 waivers have been granted to companies such as Amazon $AMZN ( ▲ 3.61% ) and major utilities to operate drones “beyond sight.” The new proposal seeks to streamline this by establishing clear application guidelines — a move industry leaders have been calling for as the drone technology landscape outpaces regulatory frameworks.

“While the technology has rapidly advanced over the last decade, our regulatory framework in the United States has failed to keep pace,” Lisa Ellman, CEO of the Commercial Drone Alliance told the AP. “Drone operators must navigate a labyrinth of ill-suited regulations designed for crewed aircraft.”

Transportation Secretary Sean Duffy highlighted how bureaucracy has stifled innovation in the field, stating, “America can’t create amazing drone technology — it’s the bureaucracy that makes it incredibly difficult for innovators to actually innovate.”

The rule could finalize later this year.

Song of the day: Rene Najera, ‘The Seasons.’

I’m not a huge fan of laid-back house music, as a rule, but every now and then I’ll give it a go because it can be tremendously relaxing. It’s like taking a Benadryl when you’re freaking out: It’s not quite as strong as a Xanax but it still takes the edge off, and it’s not quite as habit-forming.

With that in mind, L.A.-based sound engineer Rene Najera (a pseudonym for the less-laid-back sounding “Jared Carrigan”) has created a nice, new album called “Painted Life” featuring eight tracks that glide effortlessly along. The album is “a fusion of club smoke, mood house, psychic acid, and sunrise electronica,” his label writes. Just like this newsletter!

LinkedIn says labor market is ‘very fragile’

LinkedIn $LNKD ( 0.0% ) knows all about the job market, right? I mean they’re not just here to tell you who’s been checking out your profile. They know from jobs!

So, what’s up with the job market? Well, the latest jobs report delivered a mixed bag of signals, as Kory Kantenga at LinkedIn explained to us. "When you look at the labor market and how it's been fairing over the last two years, it's actually been a very fragile labor market,” he said. “80% of the jobs added have been added in just three sectors, healthcare, leisure and hospitality, and government."

This fragility was laid bare by "huge revisions to May and June’s numbers," which you may have heard about. Still, the unemployment rate, Kantenga observes, "is pretty stable. It's been bouncing between about four to 4.2% for the last year." This stability is partly due to the fact that "we don't have as many people entering the labor market."

Our stagnant labor force supply could lead to "labor shortages" and "feed into wages needing to go up," Kantenga said. Trade policy uncertainty also causes employers to "delay hiring," and immigration's impact on labor supply also "puts pressure on employers to raise wages,” he said.

Thanks for sitting down with us, Kory!

Today on the ‘gram: #1 is New Hampshire

Post of the day: ‘Just taking a little walk.’

Quote of the Day

ChatGPT adds ‘distress detection’ for psychosis

OpenAI is stepping up efforts to make ChatGPT safer and more supportive for users experiencing mental or emotional distress. It follows reports of the chatbot amplifying delusions or distressing interactions.

The updates include enhancements to detect signs of distress and provide "evidence-based resources when needed." OpenAI explained, “We also know that AI can feel more responsive and personal than prior technologies, especially for vulnerable individuals experiencing mental or emotional distress.”

This initiative follows earlier concerns about the chatbot being overly agreeable, which led to unsettling interactions. OpenAI acknowledged that its GPT-4 model “fell short in recognizing signs of delusion or emotional dependency” in some cases. In response, adjustments are being made to ensure healthier interaction.

The company is also rolling out reminders encouraging users to take breaks during extended sessions. A notification reading “You’ve been chatting a while — is this a good time for a break?” will now appear, mirroring similar features on other platforms like YouTube and Instagram.

Should you check your 401(k) today?

👎️ 

No.

What’s fueling tech stocks’ momentum?

"If anything is clear from these last two quarters, particularly these last couple of days, these tech companies are gonna keep pouring money into their investments, into their AI infrastructure," said Brett Kenwell at eToro $ETOR ( ▼ 3.05% ), commenting on the strong performance of the NASDAQ over the last six months.

This continued investment, defying earlier concerns about spending slowdowns and global uncertainties, signals strong confidence in future growth. This aggressive CapEx spend is a significant positive for chipmakers like Nvidia $NVDA ( ▲ 0.49% ) , Broadcom $AVGO ( ▲ 2.82% ) , and AMD $AMD ( ▼ 5.63% ) . Beyond that, Kenwell sees a "trickle down effect that AI is going to have within the tech sector, be it whether that's in cybersecurity, whether that's in big data." 

While some valuations may seem full, the overall outlook remains positive. Kenwell asserts, "I do think that tech still has some runway. It does have the best earnings growth expectations for this year and the second best earnings growth expectations for next year," he said.

In other words he doesn’t think there’s a bubble, or that if there is, it’s due to burst any time soon. #NotFinancialAdvice

New York Post to launch an LA edition

The New York Post $NWS ( ▲ 0.45% ) will launch the California Post next year, with headquarters in Los Angeles, aiming to bring The Post’s trademark mix of bombastic reporting, sports coverage, and celebrity gossip to California’s news-hungry population. The publication will operate with its own staff while sharing resources with its East Coast counterpart. Notably, it will feature both an online platform and a daily print edition starting in early 2026.

“California is the most populous state in the country and is the epicenter of entertainment, the A.I. revolution, and advanced manufacturing — not to mention a sports powerhouse,” said Keith “I Better Be Getting A Raise Out of This” Poole, editor-in-chief of the New York Post and the soon-to-be overseer of both papers. Poole highlighted the lack of diverse storytelling in the state’s hollowed-out local news ecosystem, noting, “Many stories are not being told, and many viewpoints are not being represented.”

The L.A. Times laid off more than a hundred reporters last year.

Poll of the Day: Tech bubble?

Poll results: You want one million dollars

We asked: How much would you need to "stay focused" on your job?

You answered:

🟨🟨⬜️⬜️⬜️⬜️ My current salary is adequate. (69)

🟨⬜️⬜️⬜️⬜️⬜️ An extra $5 or $10 now and then. (62)

🟩🟩🟩🟩🟩🟩 One million dollars! (183)

 🟨🟨🟨🟨🟨⬜️ $23.7 billion in stock awards. (159)

🟨⬜️⬜️⬜️⬜️⬜️ Just a really good, high-quality espresso machine in the break room. (61)

534 Votes via @beehiiv polls