Squawk Pod: AI-made viruses, a July jobs report, & Meta’s child harms case - 08/07/26 | Audio Only

Summary

The episode covers a surprise 23,000 job loss in July with analysis from Rick Santelli and Steve Liesman, who highlight temporary factors and the potential for bond yields to fall if Middle East tensions ease. It also features Rep. Greg Casar explaining a proposed AI tax to prevent mass unemployment, MIT professor Kevin Esvelt warning about AI-created viruses, and headlines on Meta's child harms case, Airbnb earnings, and an OpenAI smart speaker.

• July nonfarm payrolls fell by 23,000, with leisure/hospitality and local government education weighing on the number.
• Rick Santelli notes the 2-year Treasury yield could decline if Middle East tensions are resolved, unwinding war-related rate spikes.
• Steve Liesman sees seasonal and World Cup-related distortions in the weak jobs report and is less concerned about the headline.
• Rep. Greg Casar's bill would impose a tax on AI companies that scales up if unemployment rises, funding a modern Works Progress Administration.
• MIT’s Kevin Esvelt warns that while current AI virus research is safe, future attempts on animal viruses could open a path to human pathogens.
• Meta was ordered to pay $567 million into a mental health fund for teens in New Mexico and faces further state litigation.
• Airbnb posted strong Q2 results and raised its full-year outlook, with CEO Brian Chesky crediting AI for the acceleration.
• OpenAI is reportedly developing a donut-shaped smart speaker priced above $300 to challenge Amazon and Alphabet.