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To say Americans are grappling with economic uncertainty is an understatement. From boomerang tariff policies to the high cost of living, inflation, and mass layoffs, many people are increasingly worried about the economy and their ability to stay afloat. One way that’s affecting Americans? Their budgeting habitswith many now engaging in what’s called “vibe-based budgeting,” according to a report from Intuit Credit Karma. Here’s what to know. What is vibe-based budgeting? New data from Intuit Credit Karma showed that 44% of Americans have engaged in vibe-based budgetingadjusting their spending and financial habits based on “how the economy feels,” even if their personal financial situation hasnt actually changed. Over half of younger Americans admitted to budgeting this way (56% of Gen Zers and 57% of millennials). That mindset is tied directly to recent news about the economy, both on and off social media, according to Intuit Credit Karma. The data showed many Americans believe that prices are climbing rapidly (44%), their finances are unstable (34%), and a recession is just around the corner (28%)with 61% reporting they are more anxious about the economy now than they were a year ago. A bleak picture but a better reality In contrast to that bleak economic picture, when survey respondents were asked to drill down on their own finances, half (51%) reported having a positive monthly cash flow, and nearly three-quarters (72%) replied their cash flow has actually improved or stayed the same over the past six months. However, 48% said that media coverage and changing economic conditions have made them second-guess their financial standing. In short, the findings show a gap between how those surveyed feel about the state of the economy and the future, versus how they are actually doing financially. It also showed that their anxiety over the economy is making them more deliberate about how they manage their money, with 45% of those concerned about the economy reporting they have cut back on nonessential spending such as eating out, and 38% avoiding new debt or loans. The good news is that those who have adjusted their budget have a more optimistic outlook: 38% said they expect their financial situation to improve in the coming year. The Intuit Credit Karma findings are based on data from a Qualtrics online survey that ran last month from June 13 to June 17, among 1,058 adults ages 18 and older.
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E-Commerce
A software engineer became Xs main character last week after being outed as a serial moonlighter at multiple Silicon Valley startups. PSA: theres a guy named Soham Parekh (in India) who works at 34 startups at the same time, wrote Suhail Doshi, the founder of AI design company Playground, on X on Tuesday. Hes been preying on YC companies and more. Beware. PSA: theres a guy named Soham Parekh (in India) who works at 3-4 startups at the same time. Hes been preying on YC companies and more. Beware.I fired this guy in his first week and told him to stop lying / scamming people. He hasnt stopped a year later. No more excuses.— Suhail (@Suhail) July 2, 2025 In the comments, founders of other Silicon Valley companies shared similar stories of interviewing, hiring, and often firing the engineer. LMFAOOO. I INTERVIEWED THIS GUY YESTERDAY. BRO, IM DYINGG, Cluely CEO Roy Lee posted on X. Digger CEO Igor Zalutski said his company nearly hired him, adding he seemed so sharp and no-bs during the interviews. LMFAOOO I INTERVIEWED THIS GUY YESTERDAY BRO IM DYINGG— Roy (@im_roy_lee) July 2, 2025 Following the revelation, a database named SohamTracker sprang up, revealing that Parekh has held at least 19 jobs since 2021at least five of which he started in just the last two months. This is pretty hilarious actually. lmao. could be a skit on silicon valley, one X user wrote. The /r/overemployed king, another added. On Thursday, Parekh appeared on the podcast TBPN to address the accusations. He admitted he was driven to juggle multiple jobs due to dire financial circumstances. He added: I just thought that if I worked multiple places, I can basically help myself alleviate the situation I was in much faster. Parekh claimed to have been working 140-hour weeksroughly 20 hours a daywith many of the roles requiring in-person attendance. Unsurprisingly, he noted that he’s known among friends for not sleeping. While the hustle might be admirable to some, Parekh is hardly alone in embracing Silicon Valleys so-called grindset mentality. The subreddit r/overemployed currently hosts nearly half a million members, where users trade stories about secretly holding down multiple remote jobs. We roast Soham Parekh, but remember your companys making you do five peoples jobs on one persons salary, one X user pointed out. We roast Soham Parekh, but remember your companys making you do five peoples jobs on one persons salary.— Devaiah Bopanna (@devaiahPB) July 5, 2025 Ironically, Parekhs exposure has ended up working in his favorhe landed a new job at Darwin, an AI video remixing startup. Still, his actions may have consequences for others in similar situations. After the Soham saga, pretty sure very few YC startups will hire remote Indians, wrote Varunram Ganesh, head of growth at payroll platform Warp, on X. Classic case of one guy exploiting a high-trust society, which leads to downfall of all the others around him. After the Soham saga, pretty sure very few YC startups will hire remote Indians. Classic case of one guy exploiting a high trust society which leads to downfall of all the others around him.— Varunram Ganesh (@varunramg) July 2, 2025 But everyone’s favorite founding engineer insists he meant no harm. I dont really care much about the money, he told TBPN. I was really into it for building.
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E-Commerce
Alls fair on Capitol Hill. In response to the Trump administrations wide-ranging science cuts and grant cancellations, researchers and scientists staged a science fair in the lobby of a Congressional building in Washington D.C. to bring awareness to what potential knowledge the United States could miss out on as a result. The fair is being held just days after Trump signed the Big, Beautiful Bill into law, which codifies many spending cuts and funding cancellations for scientific endeavors of all typesfrom climate research to medical trials. Billions of dollars that were destined for researchers and scientists in the National Institutes of Health, National Science Foundation, and other organizations. BREAKING: Scientists are staging a science fair in the lobby of a Congressional building to tell elected officials about the critical knowledge the US will lose because their research grants have been canceled. pic.twitter.com/uaSM66Q31q— Dr. Lucky Tran (@luckytran) July 8, 2025 In effect, the U.S. is ceding its place as a leader in research and developmenta role it has held for decades, and which has led to the development of cures for diseases and disorders, advanced military technology, and, of course, put a man on the moon. The funding cuts and cancellations are widespread, and its difficult to lasso them all. But even with whats been cancelled or clawed back so far, Trump is looking to reduce spending on science further. In the budget request he released in May, billions more would be cut from NIH, NSF, the Department of Education, and completely eliminate funding for the Institute of Museum and Library Sciences, and more. In response, Sudip Parikh, CEO of the American Association for the Advancement of Science (AAAS), released a statement saying just how dangerous the cuts could be. If enacted, the FY26 budget request would end Americas global scientific leadership. The cuts to science would imperil our nations future health, security and prosperity. This budget proposal stands in stark contrast to the Presidents call for a renewed commitment to American scientific leadership, he wrote. Congress has demonstrated a bipartisan commitment to investment in research and must do so again to answer the Presidents call. Thats all to say that despite the demonstrations by scientists, and the potential long-term economic effects of cuts, the Trump administration may still not be done. Just within the past couple of days, Trump cut off researchers in the U.K. from utilizing data collected by U.S. satellites to study pollution and climate change, according to reporting from the U.K.-based The i Paper. Per that report, Rachel Cauley, OMB communications director at the White House, responded to worried scientists by saying that President Trump ran on defunding woke, weaponized, and wasteful government and his budget proudly does that by cutting funding for the Green New Scam, projects like gender-responsive agricultural adaptation in Guatemala and Mexico, and Equity Climate and Health workshops for transgender women, and those who identify as non-binary. Under Trumps leadership, the US is funding real science again.
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E-Commerce
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