September Hiring Slows & Tom Cruise's 'Digger' Could Lose $150M

SPEAKER_1 (0:01)

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Neal Freyman (0:33)

Good Morning Brew Daily show. I'm Neal Freyman.

Toby Howell (0:36)

And I'm Toby Howell.

Neal Freyman (0:37)

Today, Tom Cruise just had the biggest flop of his career.

Toby Howell (0:41)

Then, why a hedge fund just spent $21 million on office space.

It's Monday, October 5th. Let's ride.

Neal Freyman (0:56)

There's always one person in a friend group who takes pride in their parallel parking, scoffs at the idea of a camera, puts that hand confidently on the passenger seat, headrest when backing in. Well, now there's a competition for that. On Saturday, Philadelphia held its first ever parallel parking championship, where 14 competitors navigated tight spaces and adverse conditions for the chance at winning $76, the cost of a parking fine in the city. In front of a huge crowd, the parkers competed in three rounds, a one-shotter measured by distance to the curb, tight squeeze, where you had to park in a space just 18 inches longer than your car, and under duress, where you had to confront typical filly obstacles like Dallas sucks chance or a trash fire. Toby, how do you think you do in a parallel parking tournament?

Toby Howell (1:41)

Embarrassingly bad. The first question we both had when we saw this was, are backup cameras allowed? And thankfully, in this particular competition, they were not just pure trigonometry between human and machine and curb, I guess. The New York Times actually talked to the originator of some of these parallel parking competitions. It's this guy, Dan Lerber from Pittsburgh, and he weighed in on kind of technology's role in parallel parking. And he said, even if a self-driving car could park in a reasonably good time, it's not gonna win the competition. A human's gonna win because a human feels their car, their car's an extension of them. They get it, they get the flow, so I just loved hearing him wax poetic about the art of parallel parking. I feel like you're an arm behind the headrest kind of guy. Oh, you got it.

Neal Freyman (2:24)

It's all about style, not about substance, but style. But I do like the under-dress round because I did live in Philly for two years. I had an older car that didn't have a backup camera, and that really is the name of the game when you're parallel parking in Philly because it's pretty easy to do under standard conditions, there's always people watching you and just giving you that judgmental look, like all these old grandmas on stoops, just like, you know, they're begging you to mess up or like hit somebody. So I think that one should be weighted higher than the rest.

Toby Howell (2:55)

It makes me thankful I don't have a car in New York City.

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Neal Freyman (3:08)

Goldilocks?

Toby Howell (3:09)

Yeah, that little home intruder. She was looking for something that was just right, sort of like finance teams and CFOs logging into four systems to close one month, rebuilding every report in a spreadsheet and paying for add-ons the way they were told they wouldn't need.

Neal Freyman (3:24)

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Toby Howell (3:30)

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Neal Freyman (3:42)

To learn more, head to intuit.com/erp. That's intuit.com/erp.

Toby Howell (3:50)

The US added just 29,000 jobs in September, missing expectations of 84,000, which sounds bad. But it's not as bad as you think. Yes, the 29,000 jobs, Friday's jobs report revealed the economy tallyed. It feels like a far cry from the 200,000 a month we used to rip off coming out of COVID. But the unemployment rate is still sitting at a historically low rate of just 4.2%, which signals two things. One, the labor market is low hire, low fire right now, which means companies aren't adding many roles, but also aren't laying off huge numbers of people either. It's a game of musical chairs where no one is really getting up.