Colleges Try to Head Off a Coming Enrollment Crisis

August 20, 2026

AI Summary

5 min read

“I spent about $30, got to play about 15 times. I was able to win two stuffed animals. A chicken leg with a penguin face on it.” That’s not a metaphor for the economy—it’s a reporter describing the new breed of claw-machine arcades that have popped up across the U.S., where the machines are actually calibrated to let you win sometimes. But before that, the big story of the day was Walmart: its stock dropped more than 9% after reporting its weakest same-store sales growth in more than six years, while Target’s shares soared on a 3.8% gain. Meanwhile, the demographic cliff facing higher education is getting closer, and health insurance costs are set to spike at their steepest rate in two decades.

Walmart’s Muted Quarter vs. Target’s Bounce

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What you'll learn

1 (00:00) **AI and Business Introduction** - IBM sponsored segment on embedding AI into business processes.
2 (00:37) **Healthcare Costs Rising Sharply** - Americans face a steep increase in health insurance costs next year.
3 (02:09) **California AI Boom Drives Record VC Funding** - AI investment in California has tripled the VC funding of all other states combined.
4 (02:46) **Walmart Stock Tumbles on Weak Sales Growth** - Walmart reports its smallest same-store sales gain in over six years.
5 (03:07) **Comparing Walmart and Target Performance** - Sarah Nassauer contrasts Walmart's results with Target's stronger sales growth.
6 (04:48) **Walmart E-Commerce Growth and Store Strategy** - Walmart's sales growth is driven by e-commerce, with stores serving as delivery nodes.
7 (05:40) **Treasury Bond Buybacks and Market Reaction** - Treasury Secretary Scott Bessent discusses bond buybacks, but effects are short-lived.

+ Full timestamped outline available in the app

Show Notes

P.M. Edition for Aug. 20. Colleges are facing a demographic cliff—lower birth rates means fewer 18-year-olds. WSJ higher education reporter Doug Belkin explains what impact that’s likely to have on colleges–and why it might not make it any easier to get into top-tier schools. Plus, Walmart was the biggest decliner in the Dow after it reported weaker sales growth in its second quarter. We hear from Journal retail reporter Sarah Nassauer about how Walmart’s earnings stack up to its rival Target. And employers are expected to pay even more for health insurance next year, which means their workers costs’ are probably going up too. Alex Ossola hosts.

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