While AI might be driving layoffs at large firms, small businesses are on a hiring spree. <\/p>\n
More than 80% of small businesses in the U.S. and U.K. reported benefiting from AI-related job cuts<\/a> at bigger firms, a new study found, and 47% of small firms said they\u2019d already hired an employee from a larger business following a layoff. The data is a silver lining as AI drove nearly 11,000 layoffs in the U.S. last month.<\/p>\n \u201cGrowth-stage companies see AI adoption as a catalyst, not a cost-cutting exercise,\u201d said Daniele Grassi, CEO of talent solutions firm General Assembly, which conducted the study.<\/p>\n This is a published version of the Forbes Daily newsletter, you can sign-up to get Forbes Daily in your inbox here<\/a>. <\/a>First UpPresident Donald Trump said he was delaying his plan<\/a> to impose 50% tariffs on a range of Canadian products after the two countries reached a last-minute agreement.ABC and parent company Disney sued the Trump administration<\/a> and the FCC for allegedly waging a \u201cretaliatory campaign\u201d against the network after FCC head Brendan Carr threatened its broadcast licenses.As the latest deadline to reach a peace deal in the Iran conflict expired, Iran said the Strait of Hormuz will remain closed<\/a> until the U.S. agrees to its demands, leading oil prices to rise Tuesday.Business + Finance<\/p>\n Long-term treasury bond funds are down this year<\/a> amid renewed inflation concerns, the federal government\u2019s growing deficit and tech companies borrowing for AI infrastructure. Meanwhile, investors have made more money in short-term and junk bonds because they don\u2019t have to wait as long to be repaid.<\/p>\n Tech + Innovation \u200b\u200b<\/p>\n Meta CEO Mark Zuckerberg<\/p>\n Getty Images<\/p>\n A blockbuster tech trial<\/a> against Facebook and Instagram parent Meta got underway Tuesday, with 29 states accusing the firm of targeting children with intentionally addictive features on its platforms. The company rejected those claims<\/a> in court, but the trial could result in a large fine for the tech giant as the states seek damages close to $200 billion.<\/p>\n Google plans to acquire a trove of data<\/a> for training AI from the bankrupt Spirit Airlines, including nearly 100 million passenger names as well as employee records, for $10 million. The move generated backlash from a major flight attendant union, with a bankruptcy judge set to decide whether to approve the sale on Wednesday.<\/p>\n Trends + Explainers <\/p>\n Just as the economy is split by income, so too is the housing market\u2014with wealthy buyers propping up demand for higher-end properties. Home prices overall were nearly flat<\/a> month-over-month in July, as everyday buyers have been priced out of the market due to high mortgage rates.<\/p>\n Daily Cover StoryHow London\u2019s Electrify Rolls Up YouTube Channels Turning Creators Into Cash Cows<\/a><\/p>\n Electrify Chairman Tim Shey, flanked by cofounders and co-CEOs Ian Shepherd (left) and Owen Maher (right).<\/p>\n electrify venture partners<\/p>\n Co-CEOs Ian Shepherd and Owen Maher think they\u2019ve found an answer to the problem that\u2019s long kept institutional investors wary of acquiring brands in the $250 billion creator economy: turning volatile personality-driven brands into sustainable media businesses. <\/p>\n Their startup, London-based Electrify Video Partners, buys majority equity stakes in established independent YouTube channels which it calls creator-founder knowledge brands. It then provides capital and operational support to scale them. The company has grown rapidly since its 2021 founding, adding at least nine flagship YouTube channels to its portfolio. Its largest media property, Veritasium, whose channel posts science oriented videos like \u201cHow One Company Secretly Poisoned The Planet\u201d boasts 21 million subscribers and over 4 billion views.<\/p>\n According to PitchBook, the company has attracted roughly $185 million from private equity firms, including London\u2019s Capital D and New York City\u2019s Equable Capital and MEP Capital, on the bet that these brands can have a life beyond their original creators. While advertisers keep flocking to influencers\u2014Forbes\u2019 top 50 creators earned a collective $1 billion in 2026\u2014investors worry that these brands are too dependent on the personality in front of the camera. Maher and Shepherd think the solution lies in less flashy categories of channels and building well-staffed production and development teams.<\/p>\n Electrify seeks out Youtube channels that are established leaders in a certain niche, be it coding, aviation or Lego. They are particularly drawn to brands that produce videos that \u201cinform and inspire.\u201d In other words, mini documentaries tailor-made for millennials and Generation Z who are curious but have short attention spans.<\/p>\n WHY IT MATTERS Electrify\u2019s goals are high. Board chairman and former YouTube exec Timothy Shey sees the video channel roll up as the Cond\u00e9 Nast of the creator economy, where every brand in the portfolio is somebody\u2019s favorite. \u201cInstitutional investors are starting to really quickly wake up to this,\u201d insists Shey.<\/p>\n MORE Forbes Top Creators 2026<\/a><\/p>\n Facts + Comments<\/p>\n Americans are increasingly pessimistic about AI, a new Pew Research Center survey found. For the first time, a majority of young adults<\/a> are more concerned about the technology than excited by it, the research shows: <\/p>\n 55%: The share of adults under 30 who said they feel more concerned than excited, a sharp uptick from 39% just two years ago<\/p>\n 71%: The percentage of people who believe AI will lead to fewer job opportunities<\/p>\n 2021: Excitement about AI has dropped among all age groups in the last five years, with the steepest drop among those under 30<\/p>\n Strategy + Success<\/p>\n It can be tempting to give up after countless career rejections, but successful job candidates don\u2019t just persevere\u2014they learn from the process<\/a>. It\u2019s important to evaluate your progress periodically to figure out what\u2019s generating responses, and where you\u2019re getting stuck. Try to remain impartial and take any disappointing outcomes as information to help you grow. <\/p>\n Video544 Quiz<\/p>\n Outage reports spiked for AMC\u2019s mobile app Tuesday as tickets were released for which highly-anticipated film?<\/p>\n A. \u201cAvengers: Doomsday\u201d<\/p>\n B. \u201cDune: Part Three\u201d<\/p>\n C. \u201cPractical Magic 2\u201d<\/p>\n D. \u201cGodzilla Minus Zero\u201d <\/p>\n