💼 Business & Startups

May 22nd, 2026

Today's top 2 stories, curated by Daily Direct.

Fortune

Cloudflare posted record revenue, then cut 20% of its workforce. CEO Matthew Prince says AI has made an entire category of workers obsolete

Cloudflare reported record revenue while simultaneously announcing it would lay off 20% of its staff, with CEO Matthew Prince framing the cuts as a structural shift rather than a cost-reduction move. Prince argues that AI has eliminated the need for "measurers" — the analysts, coordinators, and middle-management roles focused on tracking work rather than doing it. The company says it will redirect hiring toward engineers and salespeople, signaling a broader redefinition of which jobs technology firms consider essential.

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Fortune

‘A pressure cooker ready to explode’: The wild secondaries scramble for Anthropic shares

Demand for Anthropic shares on the secondary market has reached a fever pitch, with investors scrambling to gain exposure to one of AI's most coveted private companies. The frenzy reflects broader hunger for stakes in top-tier AI firms that show no signs of going public soon. But the rush has created conditions where due diligence suffers and bad actors can thrive — a combustible mix that regulators and buyers alike should watch closely.

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