The Leyendecker View: June 5, 2026

June 5, 2026

Doug Leyendecker

Welcome to This Week’s Leyendecker View

You live your life to prepare yourself for the worst day, not the best day.
– Former GE CEO Jeff Immelt

THE WEEKLY ROUNDUP

The economy continues to act like it has legs. Factory and service sector output are growing. New job numbers are rising, but so are unemployment claims.
AI is not the culprit behind low-entry level hiring.
Private equity and private credit take more hits, while the stock market keeps booming. Will the forthcoming big IPOs suck money from the private capital markets?
Berkshire Hathaway buys into out of favor homebuilding and retail.
Microsoft wants to get users addicted to its AI, Meta’s latest AI keeps getting postponed, and Anthropic thinks AI has gotten too dangerous.
Middle East pipelines are being constructed to avoid Hormuz.
Condoleezza Rice says we’ve done good in Iran.
Trump keeps changing policies all across the economy and society, with ripple effects across the globe. Nations across the world are trying to find their footing. Businesses and citizens are, too.
There’s always sausage-making in Washington.
More evidence of a tech backlash seems to be surfacing.
Europe remains in the ditch of foreign influence.
Zelensky wants a Putin meeting, while Ukraine plays more offense.
Hezbollah won’t give up.
China remains the 800-pound panda that seems more interested in domestic than foreign affairs.
Who knew rope was responsible for modern civilization?
Anxiety can be good for you.
A YouTuber bests Hollywood.
Enjoy some music, movies, recipes and extraordinary stories.

FAVORITE READS OF THE WEEK

AI won’t kill jobs
Says someone who has never done manual labor.

Make America read again
A strategy to improve our minds.

What the Iran war has accomplished
Condoleezza Rice would know.

THINKING OUT LOUD

Doug will soon begin publishing his weekly essay elsewhere. Stay tuned for updates.

THE RANDOMS

When will the US trade Taiwan for Cuba?

Have company valuations peaked? IPO mania may be the canary in the coal mine.

Top AI CEOs are calling for a law to prevent AI from creating biological weapons. Well what happens when AI is not controlled by a “top CEO”?

The new Berkshire Hathaway CEO has invested in a home builder and a retailer. Sounds like he’s following the Warren Buffett path of buying sectors that are out of favor.

The Middle East conflict will not be resolved until moderates replace Iran’s radical leadership. This will happen, we just don’t know when.

How soon before AI figures out how to power itself with only 20% of the energy currently forecasted in today’s data center boom? If we overbuild power generation, consumers would likely be the winners. Who will be the losers?

I’m guessing companies are going to spend a ton more money on AI than the measurable results they will achieve…outside of reducing labor.

Looks like Canada is in a recession. Will the US be next?

The FDA estimates that between 30% and 40% of our food supply goes to waste. Sounds like we take for granted the food we have available.

Over 40% of Americans are supposedly obese. Sounds like we just have too much food!

ECONOMIC NEWS

Economy

US factory output expands for 5th straight month
Service sector economy is growing, too
Bezos suggests no taxes for bottom 50%
Obamacare fraud is rampant

Labor

Private sector hiring blows by expectations
WFH, not AI, has slowed entry-level hiring
Unemployment claims at 4-month high
White-collar careers are languishing
UAW goes on strike at GM

The Lone Star

Big shipbuilding contract coming to Galveston
Texas gets a new 54,000-acre state park
Toyota plans another $2B San Antonio investment

BUSINESS