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• Economists often describe the economy as K-shaped, but one market vet sees it taking a different form.
• Ed Yardeni says the US economy is G-shaped, describing a dynamic between boomers and younger Americans.
• Baby boomers are increasingly propping up growth, spending liberally and helping their children and grandkids.

We may have to thank the baby boomers for the strength of the US economy.

The economy is often said to be in the midst of a K-shaped divergence, a dynamic in which the top earners account for most of the growth and spending, while lower-earning Americans face greater economic pressure.

But, according to Ed Yardeni, a longtime market vet and the president of Yardeni Research, the driving force behind the US economy more likely lies in the spending habits of older Americans specifically, who are doing well enough to both prop up the economy and extend financial help to their younger kids and relatives.

In a note to clients on Tuesday, Yardeni called it the “G-shaped” economy, flicking at the idea that much of the boomers spending is directed toward grandchildren and adult children.

“Our alternative is the ‘G-shaped’ economy, in which older Americans, who tend to be among the wealthiest households, provide financial support to their younger adult children and grandchildren,” Yardeni said. “While Baby Boomers are thriving, younger generations are confronting an affordability crisis.”

Here are the signs he sees that baby boomers are a major pillar of support for the economy.

Heavy spending

First, boomers are known to be the wealthiest generation. The cohort, which is typically defined by people born between 1946 and 1964, is holding onto around $89.6 trillion in assets, or half of all US household wealth, according to Fed data.

Boomers have also been some of the economy’s biggest spenders in recent years. The generation recorded an average annual expenditure of $69,303 in 2023, the most recent available year according to the Bureau of Labor Statistics.

“Baby boomers don’t stop spending when they retire,” Yardeni said. “For the wealthiest generation in history, retirement means more time for spending on goods and services. The spending data already confirms that Baby Boomers are actively driving consumption growth across major categories.”

The group’s spending habits likely contributed to US recreational spending reaching a record high in March, Yardeni said, citing his analysis of LSEG data.

Boomers are also spending more on their homes, he added, with house-related spending recently hitting a record. The generation owns around a third of all US housing wealth, according to an analysis from the National Association of Homebuilders.

Retirees also appear to be driving the travel boom in the US. Total travel spending is expected to grow to $1.37 trillion this year, per the US Travel Association.

Jobs growth

There’s also evidence that the healthcare needs of baby boomers are fueling job growth in that corner of the market, Yardeni said. Healthcare has been one of the few major bright spots in the job market in recent years.

The private education and healthcare sectors gained 618,000 jobs in the year leading up to April, according to the Bureau of Labor Statistics, while all other sectors lost a combined 367,000 jobs.

Financial and housing-related help

One 2026 survey found that 70% of millennials and Gen Zers said they borrowed money from a family member for basic expenses.

Younger Americans are also increasingly living with older Americans. Around 18% of adults aged 25 to 34 were living in a parent’s home last year, according to a study from the Pew Research Center.

“Boomers are not just spending their own wealth; they are also transferring a significant portion of it to the younger generations who are struggling. Those transfers help provide a floor to aggregate consumption from below even as spending by Baby Boomers drives it from above,” Yardeni said.

IoT Analytics’ review of MWC Barcelona 2026 highlights seven connectivity themes that are directly relevant to IoT device makers, operators and industrial adopters. The findings point less to a single technology transition than to a more segmented market in which AI compute, satellite integration, eSIM orchestration and security obligations are reshaping deployment choices.

The most important message from MWC 2026 for IoT professionals may be that connectivity roadmaps are becoming harder to simplify. The industry is not moving neatly from one generation to the next. Instead, cellular IoT, satellite, edge AI, eSIM and security are converging unevenly, with different technologies advancing at different speeds depending on geography, network maturity and device constraints.

That is the context for IoT Analytics’ latest MWC 2026 event analysis, based on activity at the Barcelona show, which took place from March 2 to 5 and drew nearly 105,000 visitors from more than 200 countries, alongside 2,900 exhibitors, sponsors and partners.

AI-RAN becomes a business model discussion

One of the clearest shifts was the repositioning of AI-RAN. Rather than presenting AI in the radio access network only as an optimization tool, several vendors framed shared compute infrastructure as a way for operators to monetize capacity beyond connectivity. Fujitsu, for example, positioned AI-RAN around shared GPU resources that could support GPU-as-a-Service or AI services when not consumed by RAN workloads.

This matters because it changes the investment logic for operators. If AI-RAN infrastructure can support both network processing and enterprise inference workloads, telcos may seek to justify future network spending through compute revenue as well as subscriber revenue. The practical constraint is equally clear: operators will need sufficient demand density and operational sophistication to turn spare compute into a service, which will not apply uniformly across markets.

Cellular IoT is splitting rather than upgrading in one direction

For IoT device makers, the cellular module picture presented at MWC was notably fragmented. Cat 1 bis is being treated as a near-term volume technology, while RedCap and eRedCap are positioned as the 5G migration path where 5G standalone networks and suitable use cases exist. Nordic Semiconductor’s Cat 1 bis module launch, Quectel’s RedCap module activity and Sequans’ migration positioning all point to a market that is dividing by deployment reality rather than following a clean standards ladder.

A concrete implication for OEMs is that module selection is now a regional network availability decision as much as a technical one. A product designed for broad coverage and long life may still favor Cat 1 bis, while a device intended for markets with mature 5G standalone infrastructure may have a clearer path toward RedCap. That trade-off affects bill of materials, certification planning, power budgets and lifecycle support.

Satellite IoT moves closer to cellular workflows

Satellite connectivity was another major theme, but the notable development was not simply more satellite coverage claims. The more specific change is the integration of non-terrestrial network technology into cellular standards, modules, SIM workflows and operator partnerships. SpaceX discussed second-generation Starlink plans using 3GPP 5G NR-NTN for satellite-to-user links, while Deutsche Telekom, Vodafone, AST SpaceMobile, Orange, Telefónica and others were associated with satellite-to-mobile or multi-orbit connectivity initiatives.

On the device side, Nordic Semiconductor’s nRF9151 added 3GPP-compliant GEO and LEO NTN support alongside LTE-M and NB-IoT. For system integrators and enterprises, this points to a more manageable architecture than separate proprietary satellite hardware, although coverage, service availability and cost will still need careful validation for remote asset tracking, fleet monitoring and safety-related use cases.

Edge AI reaches low-power nodes

MWC also showed AI moving into lower-power IoT endpoints rather than remaining confined to gateways, cloud platforms or high-end edge servers. SG Wireless demonstrated TinyML over LTE-M for local person detection, sending metadata rather than raw video. Nordic linked on-device inference to cellular IoT and NTN modules, while Semtech’s approach kept intelligence in the device or partner MCU with LoRa connectivity.

The deployment logic is straightforward: when connectivity is constrained, expensive or intermittent, local inference can reduce traffic and cloud dependency. This is particularly relevant for battery-powered and remote devices, where transmitting raw sensor data may be less attractive than processing events locally and sending only what matters.

SGP.32 moves into commercial use, but orchestration is the real layer

SGP.32 was another area where MWC showed commercialization rather than only standards discussion. Tele2 IoT, IDEMIA Secure Transactions and Cisco announced a commercial end-to-end SGP.32 IoT solution, while IDEMIA disclosed more than 15 commercial deployments and 40 proofs of concept. Other companies including Telit Cinterion, Emnify and Soracom showed demos, pre-order activity or customer testing.

The distinction from typical eSIM announcements is important. The value is not just the ability to download or switch profiles; it is the orchestration layer that determines when and why profile changes should occur across fleets, operators and regions. For connectivity providers, this shifts differentiation from SIM supply toward policy, automation, compliance and operational control.

Security planning moves toward long-life device risk

Security discussions at MWC included post-quantum cryptography, secure silicon and compliance readiness. ICTK introduced PQC physical unclonable function security chips for USIM and eSIM, Thales linked hybrid PQC to eSIM-related security flows, and Pairpoint and Lantronix signed an MoU around PQC protection for existing industrial IoT routers and gateways.

This is distinct from routine cybersecurity messaging because the focus is on devices that may remain deployed for 10 to 15 years. For industrial players and infrastructure operators, the relevant question is not only whether today’s encryption works, but whether devices shipped now can be maintained against future cryptographic and regulatory requirements, including secure update and remediation workflows.

Taken together, the IoT Analytics findings suggest that MWC 2026 was less about a single headline technology than about architectural convergence. Connectivity, compute, identity and security are becoming interdependent design choices. For IoT buyers, that means procurement decisions will increasingly need to account for network maturity, silicon roadmaps, satellite fallback, eSIM control and long-term security obligations from the start of a project.

The post MWC 2026 signals a split IoT connectivity market shaped by AI, NTN and eSIM orchestration appeared first on IoT Business News.

• NYC City Hall released its detailed plans for affordable housing.
• Mamdani is supporting new construction, apartment-friendly zoning, homebuyer assistance, and more.
• The mayor hopes the plan will help lower- and middle-income New Yorkers.

Zohran Mamdani has ambitious ideas for New York City housing.

The Mayor’s Office dropped its detailed policy plan — called “Block by Block” — on May 26, outlining goals to build more apartment buildings, convert unused offices and hotels into living space, and help residents navigate one of America’s most expensive housing markets. Housing access has been a cornerstone of Mamdani’s affordability agenda, with buzzy promises to freeze the rent for a large swathe of NYC apartments and address “bad landlords.”

“When New Yorkers can afford a home, they can afford to dream,” Mamdani said at a press conference Tuesday morning.

From construction to creative living solutions, here are Business Insider’s biggest takeaways from City Hall’s plan.

Boosting building opportunities

New York needs to build, baby, build. Vacancy rates hovering at historic lows are one of the biggest factors pushing up rents in the city, and Mamdani’s blueprint lays out a slew of measures that aim to both reduce the costs of building and get more stock online.

Part of the plan is to simply build more housing, with a goal of 200,000 more homes in the next ten years. That’s underwritten by $2.5 billion allocated towards more building from the mayor’s budget, with the homes built subject to regulations that bolster construction workers’ pay and benefits.

City Hall also wants to build more on public sites like Sunnyside Yards, a rail hub in Queens that sits between several bustling neighborhoods. That proposal would connect the neighborhoods currently separated by rail tracks, and build a deck over the rail infrastructure that could house what the report calls “a new complete neighborhood.” The report also notes that the city would need federal support to build that new neighborhood — part of Mamdani’s pitch to Queens native Donald Trump in early 2026.

Some proposals hinge on existing (and future) buildings. One is a program that would lower insurance costs for affordable and rent-stabilized units, which have seen soaring premiums. The plan says it would infuse $100 million to help fund a newer, more affordable insurance program, with a goal of both keeping costs more stable for current housing and saving the city money on new builds, since it currently has to subsidize those higher insurance prices.

Other aspects of the plan include expanding access to a water affordability benefit for those in affordable housing, and expanding a program that helps rental buildings and income-restricted co-ops improve their energy efficiency. The plan also aims to improve elevator service in public housing, and address leaks and plumbing issues in those units.

Supporting creative housing solutions

Through partnerships with developers and revised zoning policies, the mayor plans to convert some existing commercial buildings into apartments. The city said the recent overturning of a decades-old state cap on new developments would allow more NYC buildings to be allocated toward housing.

Both the local and state governments are working to convert the historic, and currently vacant, Stewart Hotel in midtown Manhattan into permanent housing for 550 households. Roughly half the units will be dedicated to providing affordable options for formerly-homeless and low-income households, per the plan. Some of the buildings’ square footage will also be dedicated to providing on-site social services for tenants.

A largely vacant commercial skyscraper on Brooklyn’s Flatbush Avenue received zoning approval in March. The building, which is on city-owned land, will be converted into 1,200 apartments, 350 of which will be “deeply affordable.” Former private office building 100 Gold Street — which currently houses various city agencies in lower Manhattan — will also be converted into 3,700 apartments, 900 of which will be permanently-affordable homes.

The city also said it is trying to make it easier for New Yorkers to build accessory dwelling units (ADUs) on their property. That includes a program to help residents navigate their hyper-local zoning laws for ADUs, especially in historic districts. The city plans to streamline permitting for manufactured ADUs, which are significantly cheaper than custom-built units, making them easier for property owners to install for use by renters, elderly family members, or guests.

Beyond building more housing, Mamdani plans to begin a pilot this year to legalize basement apartments in the city. This will make it easier for homeowners to ensure their basements are up to code and can be made into safe apartment units. Homeowners who participate in the pilot this year will receive some financial support from the city to install smoke alarms, test for contaminants, and more.

Helping New Yorkers navigate the housing market

NYC is notorious for its cutthroat housing market, and renters make up 70% of city residents.

The Mamdani administration said it is taking steps to curb “bad landlords” by strengthening code enforcement and taking action against property owners who harass or neglect their tenants. The city is already hosting “rental ripoff” hearings in all five boroughs so that New Yorkers can share their concerns directly with City Hall, and the mayor said he is strengthening legal avenues for tenants to expedite emergency repairs. Mamdani also said he supports the development of tenant unions, which help renters collectively protect their rights. This goes alongside plans to reduce evictions and speed up cases in housing court.

City Hall wants to make New York more affordable for buyers, too. Mamdani is set to expand an existing downpayment assistance program to serve up to 300 lower-income first-time homebuyers. A new mortgage assistance program will provide repayable, no-interest loans to help low-income homeowners resolve mortgage problems.

The mayor added that he is moving forward on plans to freeze the rent in NYC’s rent-stabilized apartments alongside City Council, but the policy has not yet been implemented.

The success of a rent freeze — alongside many of the other programs in the city’s housing plan — will hinge on legislative support and funding at the local, state, and, sometimes, federal levels. Still, the mayor is feeling confident.

“Combined, these efforts will lead to growth beyond anything New Yorkers have seen in generations,” Mamdani said. “For some, the dream of home ownership will finally be within reach. Others will be able to sleep easily in homes they no longer fear losing.”

• The Army’s defense industry partners put a rocket launcher on a resupply drone in a recent test.
• The tech could give the drone a lethal payload and soldiers a precision-kill option at range.
• Military leaders want drones that can quickly swap payloads, including weapons.

Defense industry operators recently tested whether a resupply drone could not only carry a rocket launcher but also fire it. The test at Fort Rucker showed a potential lethal loadout for a US Army logistics drone, the service said Tuesday.

The TRV 150 drone made by Survice Engineering Company is already used by the Marine Corps and Army for logistics missions. With a three-shot rocket launcher on board — similar in some respects to what the Ukrainians have done — ground forces could use this drone to strike at range.

Last week, Survice Engineering paired the TRV 150 resupply drone with BAE Systems’ Advanced Precision Kill Weapon System during an exercise at Fort Rucker in Alabama. Both defense industry partners and US military officials attended the event.

The TR150 has been described by Survice engineers as the “pickup truck” of the sky. It can carry up to 150 pounds, it has ports for various payloads, and it features autonomous calculations for flight, range, and targeting.

The TRV 150’s autonomy simplifies much of the work in operating it, such as finding the target, plotting a route, and telling the pilot when it’s ready to drop its payload.

This recent test looked at a different use for the drone: carrying and firing APKWS-guided 70mm rockets.

The APKWS is already used on AH-64 Apache helicopters and “other more exquisite assets,” Clark Dutterner, Survice Engineering’s vice president of business development, said, per an Army release. Those platforms include other helicopters and fighter aircraft.

During the exercise, the Army and its partners tested how the drone handled the rocket launcher and reacted when firing.

Putting the launcher on a tactical drone gives troops some of the striking power of a helicopter without putting aircrews at risk. These drones could switch from logistics to attack depending on the mission.

US military officials at the exercise said that the testing helped anticipate the potential future needs of soldiers. Leaders have also mandated that all uncrewed aerial systems have lethal payload options, meaning that troops will consistently have that weapon in their arsenal.

Swappable payloads have become a Pentagon priority as the services experiment with and field more drones for different missions. US military leaders have been drawing key lessons from Ukraine, where troops rely on a wide mix of drones and payloads tailored to the mission, terrain, and threat.

• Flip phones, portable CD players, and point-and-shoot cameras — what’s old is new again.
• Meet the 28-year-old founder of Kickback, a brand that sells retro-inspired and refurbished gadgets.
• London Jackson runs a full-time business around nostalgia for the earlier days of tech.

London Glorfield isn’t a Luddite — he just wants tech products to feel a little less soul-sucking.

“Tech is a sea of sameness right now,” Glorfield, who goes by London Jackson professionally, told Business Insider in an interview. “It’s so boring.”

Young people are hungry for retro tech, especially in the AI era. Analog has taken on a new meaning. It’s often not used literally, but instead as a blanket term for any tech that feels slower than what we’ve grown accustomed to. Digital point-and-shoot cameras? Analog. CD player? Analog. Wired headphones? Analog.

“I call it dumb tech,” Jackson, a 28-year-old based in New York, said. He’s built a business around it called Kickback, which he cofounded in 2024, after years of working as a musician.

The business started with cassette tapes, then a record player (which sells for $500), and then a portable CD player (which goes for $99 and has been stocked at Urban Outfitters and the MoMA Design Store). Kickback’s business is one part re-imagined retro tech and another part refurbished gadgets. For the latter, Kickback works with a network of resellers and takes up to a 40% cut.

Late last year, Jackson dropped a limited collection of refurbished Motorola Razrs, a cellphone you may remember from the 2000s. The phones are sleek and colorful, and they bring back memories — at least for me — of flipping the phone open to hit speed dial.

The collection — 100 phones — sold out within minutes. A set of MP3 players also sold out.

Most recently, Kickback launched a line of $70 point-and-shoot cameras modeled after 2000s designs, in a collaboration with the musician Brent Faiyaz.

“It’s just as much of a fashion flex as it is a way to unplug,” Jackson said of the company’s products.

Nostalgia is paying off.

In 2025, Kickback’s total revenue surpassed $750,000, and it sold over 7,000 products, according to documentation provided by Jackson. Kickback brought in a gross profit of roughly $460,000.

Nostalgia as a marketing engine

Yearning for the early 2000s is shaping Kickback’s design choices and marketing.

Whether it’s rebooting Y2K gadgets or reviving the aesthetic of disposable film cameras, nostalgic marketing messaging is all about bringing people back to an offline world.

“It allows us to tell the story of this elusive, simpler time,” Jackson said.

“I don’t actually know if it was simpler,” he added. “I was a baby. But when I look back at a time without constant notifications and constantly being expected to be online … that sounds like a vacation. To me, that sounds like a luxury.”

Ironically, being online is also part of the business. Jackson’s own presence on Instagram and TikTok is the crux of Kickback’s marketing strategy.

Jackson is one of many young founders turning to the content creation engine. Between posts about brand building and design aesthetic, Jackson promotes Kickback’s products — like its portable CD player — by talking about wanting to get offline.

“I’m trying to spend less time on my phone, man,” he said in a February video.

Old tech, new business

Selling physical products direct-to-consumer isn’t a gold rush, though it has become Jackson’s full-time job.

“There’s months where I’ve had to tap into savings,” he said. “It’s totally changed month to month, and that’s something we’re really trying to stabilize this year.”

Kickback raised about $300,000 in venture capital funding in 2025.

Jackson wants to grow Kickback’s team. So far, he has primarily run the business by working with third-party factories, a designer based in Copenhagen, and a network of refurbishers. In April, he hired a chief operating officer.

“This cultural shift away from wanting to be on your phone all the time has been hugely beneficial to us,” Jackson said.

• “The Mandalorian and Grogu” had the worst opening ever for a “Star Wars” release.
• Disney played it too safe, and the movie felt like an elevated episode of “The Mandalorian.”
• “Star Wars” fans don’t want TV when they go to the movies. They want big, original stories.

For the last seven years, Disney has been biding its time waiting patiently for the right moment to bring the “Star Wars” universe back to the big screen.

Over Memorial Day weekend, fans finally went back to theaters for the first “Star Wars” movie since the disappointing end of the Skywalker saga with “The Rise of Skywalker.” And what they were rewarded with for their years of patience was the equivalent of a long episode of “The Mandalorian.”

“Star Wars: The Mandalorian and Grogu” brought in $163 million at the worldwide box office over the four-day holiday weekend, making it the lowest opening ever for a “Star Wars” movie, doing worse than 2018’s Memorial Day weekend release of “Solo: A Star Wars Story,” which brought in $168 million worldwide and went on to earn only $392 million worldwide in its theatrical run.

It’s put Disney brass in a similar situation to 2019, when then-CEO Bob Iger declared that “Star Wars” movies were going on a “hiatus” after the release of “The Rise of Skywalker.” That break led to a savvy pivot to the small screen, with “Star Wars” spinoff show “The Mandalorian” launching Disney’s streaming service Disney+ in 2019.

Led by showrunner Jon Favreau, “The Mandalorian” leaned into the deep mythology of the franchise with a unique Western gunslinger aesthetic. It also introduced the world to Grogu, aka Baby Yoda, whose improbable cuteness helped make “Star Wars” a sensation for the first time since Disney reignited the fanbase with the theatrical release of “Star Wars: The Force Awakens” in 2015.

The show’s success led to more live-action shows (“Obi-Wan Kenobi,” “Andor,” “Ashoka,” “Skeleton Crew,” “The Acolyte”) that delved deeper into the “Star Wars” saga and were a satisfying feast for fanatics and casual fans alike.

Now, tasked with helming the return of “Star Wars” to the big screen, Favreau makes “The Mandalorian and Grogu” play like an extension of the beloved television show — and why would you head to theaters when you’re used to getting your Mando fix at home?

All of which begs the question: Did Disney’s pivot to TV kill “Star Wars” as we know it? Is the franchise no longer the gold standard for theatrical blockbusters?

‘The Mandalorian and Grogu’ felt like an extension of the TV show — not a full-blown theatrical event

Supersizing “The Mandalorian” into a feature film works on paper. It has the broadest appeal of any of the current “Star Wars” properties, and Favreau is a proven blockbuster hitmaker who’s brought in box office coin directing movies like Marvel’s “Iron Man” and live-action versions of Disney classics like “The Jungle Book” (2016) and “The Lion King” (2019).

But Disney and Lucasfilm seemingly didn’t consider that “Star Wars” fans are a fickle bunch. Though fans love the nostalgic nature of a galaxy far, far, away, they’re always craving something different. For every one fan who despises “The Last Jedi,” there are two who love it for its big swings (or vice versa — such is the paradox of the fanbase).

The fans weren’t looking for “The Mandalorian and Grogu” to be an elevated episode of the beloved show, but that’s what they got. Instead of Carl Weathers (RIP) giving Mando jobs, in the movie, it’s Sigourney Weaver. And when the show gets nostalgic, it misses the mark. Watching the muscular son of Jabba the Hut (voiced by Jeremy Allen White), fighting alongside Mando against creatures that look eerily similar to the ones Chewbacca played on the chessboard in the Millennium Falcon (the floor they fought on even looked like a chessboard!) felt forced.

That’s not to say the movie is a “Solo”-level disaster. The second half has a better pace and feels more cinematic, and the puppetry and stop-motion animation featured are some of the best the company has ever done, harkening back to its 1980s collaborations with Jim Henson on “The Dark Crystal” and “Labyrinth.”

But the film’s close ties to the show likely turned off those who didn’t want to spend money on an IMAX-priced ticket to something they’ve been watching at home for years. This could be the start of a bigger problem for Disney: Like Pixar, Disney has programmed the “Star Wars” fan to settle for getting content outside of a movie theater. And there’s only one way to stop that.

‘Star Wars’ fans are craving originality on the big screen

The lackluster opening for “The Mandalorian and Grogu” at the box office — by “Star Wars” standards, anyway — is disappointing, but the naysayers will get even louder if the movie underperforms in its second weekend in theaters.

This puts even more pressure on Disney to make sure its next “Star Wars” theatrical release, “Starfighter,” is done right.

Directed by Shawn Levy (“Free Guy”) and starring Ryan Gosling, the movie is a completely original story set five years after the events of “The Rise of Skywalker.” That’s all we know, and that’s all we need to know!

Dangling a carrot of originality in front of “Star Wars” fans is essential right now, because they want to be challenged. If the success of “The Mandalorian” and “Andor” proved anything, it’s that “Star Wars” fans will always show up — but they will show up and be loyal if the story being told expands on what they thought a “Star Wars” tale could be.

By iterating on an existing story, “The Mandalorian and Grogu” played it too safe. Fans want more daring, original stories; that should have been the biggest takeaway from the franchise’s self-imposed hiatus. For “Star Wars” to get back to its theatrical glory, this is the way.