A bunch of companies, from Warner Bros. Discovery to NBCUniversal to the Walt Disney Company, have announced layoffs, hiring freezes, or cost cutting in the new year. To entertainment journalist Matt Belloni, that’s a recession. “I talk to people all over town who are terrified,†Belloni says. “There are people in the business who have never experienced this kind of pullback.†He tells Into It host Sam Sanders that companies that spent years pouring money into content in order to win the streaming wars are finally looking at profitability. But Sam can’t shake the feeling that Hollywood had it coming and failed to absorb the lessons offered from other fields that have been disrupted by new technology such as journalism and the music industry.