Mark Cuban, Elon Musk, Marc Benioff, and other business leaders responded to the news on social media. Mark Zuckerberg posted, but later clarified it was not about President Biden, just bad timing.
George Vukasin Jr., president and CEO of the 100-year-old company, Peerless Coffee and Tea, says it's not just his kids—he's hearing the same from other people he knows who own family businesses.
Notable June bankruptcies tracked by S&P Global were the electric vehicle maker Fisker and Redbox DVD rental operator Chicken Soup for the Soul Entertainment.
Big Tech companies often hire younger demographics, and the U.S. Bureau of Labour shows a decrease in employed workers in tech roles after they reach the 45-year mark.