Welcome to February, readers. We've made it through job-cuts January. I'm Diamond Naga Siu, and it was pretty hard to avoid starting every newsletter with layoffs. But we're likely not out of the woods yet.

This week, we have many earnings calls on deck (my brilliant teammates Paayal Zaveri, Asia Martin, and Emilia David will walk you through them). While the calls are pretty technical and sometimes kind of boring, they're important. They can signal more layoffs and/or give valuable insights into what top executives and investors are thinking.