🏋️‍♀️ Axios PM: Gyms shape up

Plus: Twentysomething | Monday, January 23, 2023

Open in app View in browser   Presented By Amazon   Axios PM By Mike Allen · Jan 23, 2023 Good afternoon! Today's PM — edited by Erica Pandey — is 517 words, a 2-min. read. Thanks to Sheryl Miller for the copy edit.     1 big thing: Gym traffic roars back Illustration: Annelise Capossela/Axios   Foot traffic in fitness studios is up 40% so far this month compared with January 2021, AP reports. Why it matters: Traffic is still down 3% from pre-pandemic levels. But for the gyms who made it through, brighter days are ahead. What's happening: Just as restaurants and travel companies are benefiting from the economic shift in spending from goods to services, fitness studios and gyms are finally enjoying a return to normal, Axios Closer co-author Nathan Bomey reports. 🍊 Case in point: Orangetheory, which offers high-intensity interval training paired with heart monitors, plans to add more than 100 new studios to its 1,500+ locations in 2023, CEO Dave Long tells Axios. 🥊 Reality check: Inflation and the prospect of a recession could drive consumers toward cheaper fitness options, such as big-box fitness chain Planet Fitness or more at-home workouts. And some who took up working out at home or outside during the pandemic plan to stick with it. But the darkest days appear to be over for the fitness and health industry, even if a recession hits. Share this story.     2. Tech layoffs continue Illustration: Annelise Capossela/Axios   Spotify announced plans this morning to fire around 600 employees. That brings this month's tech-company layoffs to 56,000+, per tracking site Layoffs.fyi — including last week's monster cuts at both Alphabet and Microsoft, Axios Pro Rata author Dan Primack reports. The big question: Could this spark a surge in tech entrepreneurship — an upside to the downturn? Bull case: If you've always had the itch to launch a company, what better time than when you're unemployed? Bear case: Today's job market is much tighter than we saw after the dot-com bust or Great Financial Crisis. Even if tech is shedding headcount, there are plenty of non-tech companies that will salivate over the prospect of hiring former Google or Facebook engineers. The bottom line: Layoffs are misery. The hope is that, eventually, some creation can come from the destruction. Share this story.     A message from Amazon When you buy on Amazon, it's most likely from a third-party seller     Ujamaa Lighting creates low-cost and long-lasting light bulbs. The Amazon Black Business Accelerator helped Ujamaa Lighting thrive with mentorship opportunities and funding. The reason: At Amazon, we know supporting our small business partners helps whole communities thrive. Learn more.     3. Catch up quick Flowers today outside the entrance of Monterey Park's Star Dance Studio, the site of the shooting. Photo: Jae C. Hong/AP 💔 My Nhan, 65, and Lilan Li, 63, were killed in the Monterey Park mass shooting and are the first two victims to be identified. Go deeper. 🏛️ A jury in Washington today convicted four members of the far-right Oath Keepers of seditious conspiracy — handing the Justice Department another major victory in its quest to prosecute hundreds of people who stormed the Capitol. (Reuters) 💉An FDA expert panel this week will consider a process for annually updating COVID shots similar to what we do for seasonal flu vaccines. Go deeper.     4. 🏈 1 stat to go The 49ers' Brock Purdy passes in yesterday's NFC divisional playoff in Santa Clara, Calif. Photo: Thearon W. Henderson/Getty Images "After years of quarterbacks in their 30s (and 40s!) dominating the N.F.L., the final four in this postseason are all in their 20s," The New York Times' Sara Ziegler writes. Kansas City's Patrick Mahomes is the oldest, at 27. Cincinnati's Joe Burrow, who was in the Super Bowl last year, is 26. Philadelphia's Jalen Hurts is in his third NFL season, at 24. And San Francisco's Brock Purdy — who was the final draft pick of 2022 — is just 23.     A message from Amazon "I was able to go to college without stressing about the cost"     Julio always planned to go to college but couldn't afford it. The Amazon Career Choice program helped him become the first college graduate in his family. Here's how: Amazon offers pre-paid tuition for nearly 1 million employees and delivery partners. Read how Amazon is helping employees grow.   Are you a fan of this email format? Your essential communications — to staff, clients and other stakeholders — can have the same style. Axios HQ, a powerful platform, will help you do it.   Axios thanks our partners for supporting our newsletters. Sponsorship has no influence on editorial content. Axios, 3100 Clarendon B‌lvd, Arlington VA 22201   You received this email because you signed up for newsletters from Axios. To stop receiving this newsletter, unsubscribe or manage your email preferences.   Was this email forwarded to you? Sign up now to get Axios in your inbox.   Follow Axios on social media: