On PBD Podcast #833, published July 16, 2026, a co-host opens at the eighteen-second mark by tying IBM's 25% single-day stock collapse to H-1B hiring. We scored the two halves separately: the stock drop is true, 0.97. The causal tie to H-1B hiring is mostly-false, 0.15, and flagged as misinformation.

IBM gave its own account the same day, in Arvind Krishna's letter to investors filed as Exhibit 99.1 to the July 14 8-K: a shortfall in Z and its associated software stack, after clients shifted quarterly capex toward supply-constrained servers, storage and memory ahead of expected price increases. The same quarter's 10-Q shows IBM Z revenue down 42% while Distributed Infrastructure rose 37.3% — "our strongest quarter on record." We found no sell-side note or mainstream financial report attributing the drop to H-1B, immigration, or offshoring. ...