Speedskater Jordan Stolz Wins Gold, While Economic and Market Shifts Reshape Landscape
MILAN, ITALY - February 11, 2026 - American speedskater Jordan Stolz secured a gold medal in the men's 1,000 meters at the 2026 Winter Olympics in Milan, Italy, marking the start of his bid for four gold medals. Simultaneously, the financial world grappled with shifting economic trends, including a potential "SaaSpocalypse" in the software market and the emergence of an "E-shaped" economy, according to reports.
Stolz, who began skating at age five on a frozen pond in Wisconsin, had long dreamed of this moment, inspired by the 2010 Winter Olympics. "Jordan Stolz pictured this moment most of his life," reported the Associated Press. The victory came after a ten-minute wait, adding to the drama of the event.
Meanwhile, the business world faced significant challenges. The software-as-a-service (SaaS) market, once a booming sector, experienced a downturn, with companies like Salesforce, Oracle, Asana, DocuSign, and Intuit seeing their valuations decline. This selloff, dubbed the "SaaSpocalypse" by Jeffries analyst Jeffrey Favuzza, prompted leadership changes, including Workday co-founder Aneel Bhusri's return as CEO. Diane Brady reported on the situation in CEO Daily, highlighting the challenges facing software companies.
The economic landscape also presented new complexities. Analysis from Bank of America suggested the emergence of an "E-shaped" economy, where the middle class's trajectory is diverging from those at the lower end of the income spectrum. This shift indicates that the wealth gap is no longer simply between higher and lower earners, but also involves the middle class struggling on its own, according to Fortune.
In other market news, the intersection of public and private markets continued to evolve. Paul Wick, chief investment officer at Seligman, noted the destabilizing impact of AI on both markets. "The public markets are thinning, the private markets are exploding, and AI is wholly destabilizing both," Wick said. Seligman Ventures debuted with $500 million, reflecting the changing dynamics.
In a separate development, archeological research revealed new insights into the Olmec civilization. According to Hacker News, the discovery of Stela C, a stone carving with a date, challenged previous assumptions about the Olmecs' timeline. The Stirlings, an archeologist couple, estimated the date to be September 3, 32 BC, suggesting the Olmecs were much older than previously believed.
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