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Today's Summary

Goldman Sachs expects layoffs to keep rising and says investors are punishing the stocks of companies that slash staff. American retail investors are all in, buying at an unusually aggressive pace. Noah Smith says the public is overwhelmingly negative on AI. Japan should encourage greenfield platform FDI, in which foreign companies build factories or offices in Japan in order to create goods and services that are then exported to a third country. Sakana AI might succeed, but the most likely outcome is that the company will fail.