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Culture Corner

As if the Simpsons Funday Football altcast of Cowboys vs. Bengals on Monday night couldn't get any weirder, ESPN decided to add Stephen A. Smith to the fun. Enjoy 🏟️🏈😉

TECH TODAY

China Comes After Nvidia: China has launched an antitrust investigation into U.S. chip giant Nvidia, just days after Washington tightened controls on high-end semiconductor exports to Beijing. The timing, with Donald Trump poised to return to office, further underscores the geopolitical stakes.

Dystopian Billboards: Advertising by Artisan’s CEO, a company with just 30 employees and is less than 2 years old. Artisan has one product an artificial intelligence “sales agent” called Artisan, built to automate the work of finding and messaging potential customers

Riverside Podcast Company Raises Series C Funding: Riverside raised $30 million in a Series C round. Investors included Reddit founder “Alex Ohanian said that he was personally looking for solutions to help him record podcasts. It was a “game recognize game” moment after discovering Riverside.”

 🎁 Happy Holidays 🎄

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 🎄 Happy Holidays 🎁🎅🎎🪔🧑‍🎄🤶

HEADLINE NEWS 👀

When Second Hand Is First

Vinted, the Vilnius, Lithuania based platform for secondhand fashion, has grown into a €5 billion ($5.26 billion) powerhouse, reshaping how millions shop and dress across Europe.

The Backstory: In 2016, Thomas Plantenga, a New York-based consultant, was brought in to rescue Vinted, which was growing but losing money. His radical advice? Slash staff, rebuild the app, and scrap global offices to focus solely on Vilnius. The founders agreed, and Plantenga became CEO in 2017.

This is what the numbers look like:

• 2023 Revenue: €596 million (61% year-on-year growth).

• First Annual Profit: €18 million.

• Valuation: €5 billion after a secondary share sale in October.

Game Changing Strategy: Plantenga redesigned the app for simplicity and flipped the marketplace model: sellers post for free, while buyers pay fees. This innovation has drawn millions to Vinted, especially in France and the U.K., where one in four people use the app.

The Bigger Picture: Vinted is challenging the view that secondhand is a niche market. Customers like Fiona Summers in the U.K. use it daily, finding high-end brands at bargain prices. Vinted has expanded beyond fashion to books, toys, and electronics, with Plantenga envisioning it as “the Amazon of secondhand.”

U.S. Expansion: Despite limited traction since launching in 2020, Plantenga remains optimistic about cracking the U.S. market after 2025.

Cultural Appeal: Vinted blends sustainability with savings, capitalizing on the backlash against disposable fashion. “Vinted is normalizing secondhand,” said retail consultant Natalie Berg.

What’s Next? The company is building storage locker networks, developing a payment system, and eyeing further growth in Europe before another push in the U.S.

Bottom Line: From a startup scraping by to cover server costs to a global secondhand fashion leader, Vinted is reshaping how people buy, sell, and think about clothes.

Man Detained In Murder Of UnitedHealthCare CEO

A man was arrested in Pennsylvania for allegedly assassinating UnitedHealthcare’s CEO. Police found a 3-D-printed gun, silencer, and a manifesto criticizing healthcare companies prioritizing profit over care in the possession of Luigi Mangione, 26. Mangione, a former valedictorian, faces multiple charges, was denied bail, and remains under investigation for motives linked to the Manhattan killing. UPDATE: Luigi Mangione has been charged in Manhattan with murder, according to online court records. In addition to the murder charge, he is also charged with three gun charges and forgery.

Omnicom to Acquire Interpublic in $13 Billion Deal

Omnicom Group (OMC) is set to acquire Interpublic Group (IPG) in a $13 billion all-stock deal, creating the largest advertising company in the world, the companies announced Monday. The merger will bring together two of the industry’s biggest players, generating more than $20 billion in net revenue based on 2023 figures and uniting storied agencies such as TBWA Worldwide and McCann Worldgroup.

The deal positions the combined entity to better compete against tech giants like Google and Meta Platforms, which have been gaining ground in the advertising space. Advances in generative AI are expected to allow these companies to take on more creative work traditionally handled by agencies.

“This allows us to take control of our own future, rather than waiting for technology to impact us in ways we can’t anticipate,” said Omnicom Chairman and CEO John Wren during an investor call.

Terms of the Deal: Under the agreement, Omnicom shareholders will control 60.6% of the combined company, with Interpublic shareholders receiving 0.344 Omnicom shares for each Interpublic share. The merged company will retain the Omnicom name and trade under its current OMC ticker on the New York Stock Exchange.

Wren will remain chairman and CEO of the combined entity, while Interpublic CEO Philippe Krakowsky will serve as co-president alongside Omnicom’s Daryl Simm. The companies expect to achieve $750 million in cost synergies within two years by consolidating real estate, streamlining technology systems, and integrating service centers.

A New Advertising Powerhouse: The merger will unite an impressive portfolio of brands and clients. Agencies like BBDO, McCann, and Weber Shandwick have delivered iconic campaigns such as Apple’s “Think Different,” Mastercard’s “Priceless,” and the California Milk Processor Board’s “Got Milk?” Client rosters include Amazon, AT&T, PepsiCo, Unilever, and Volkswagen.

The merger highlights the changing dynamics of the advertising industry, which has been disrupted by technology and data-driven platforms. Generative AI is expected to play a significant role in reshaping creative development for brands, an area that agencies have traditionally dominated.

“The combination allows us to leverage vast behavioral data and analytics to help clients refine every stage of the marketing lifecycle,” Krakowsky said.

Publicis Groupe, a rival, has already seen success with its investments in technology and data, acquiring assets like Sapient and Epsilon. While Omnicom and Interpublic have also made similar moves, including Omnicom’s $835 million purchase of e-commerce firm Flywheel and Interpublic’s $2.3 billion acquisition of Acxiom’s marketing solutions business, this merger signals a major shift to consolidate their resources.

Interpublic shares rose 7% to $31.34 following the announcement, while Omnicom shares dropped 8.7% to $94.41. Despite concerns about antitrust scrutiny, Wren expressed confidence in the deal’s approval, citing its alignment with current market dynamics.

The merger, which is expected to close in the second half of 2025, will create a dominant force in the ad industry at a time when global ad spending is projected to exceed $1 trillion.

Succession Redux: Murdock Family Infighting “Bad Faith” and Drama Galore

Throngs of Americans miss Succession a show reported to be roughly based on the Murdoch family; though that’s pure speculation. The Murdock family controls News Corporation, which includes Fox News, its conservative aligned news network. A recent court case ruling brings back the drama of a premiere Media company and its iconic founder and his offspring; The Murdock Family.

A Nevada commissioner has rejected Rupert Murdoch’s attempt to alter his family’s trust to secure Lachlan Murdoch’s control over the media empire and lock in its conservative editorial slant. In a scathing 96 page ruling obtained by The New York Times, Commissioner Edmund J. Gorman Jr. called the move a “carefully crafted charade” aimed at sidelining the other beneficiaries of the trust.

The trust divides control equally among Rupert Murdoch’s four oldest children Lachlan, James, Elisabeth, and Prudence after his death. Murdoch, 93, and Lachlan, the current CEO of Fox Corporation, argued that ensuring Fox News’s right-wing trajectory was in the financial interest of all beneficiaries. However, Gorman ruled their actions were in “bad faith,” finding no evidence that the other siblings were plotting to oust Lachlan or alter the company’s editorial stance.

The legal maneuver, dubbed “Project Family Harmony,” sought to marginalize James, Elisabeth, and Prudence while cementing Lachlan’s leadership. The ruling revealed that Lachlan initiated the plan in 2023, appointing allies like former U.S. Attorney General Bill Barr to the trust’s board to secure votes.

Gorman’s decision emphasized that the trust changes would have permanently favored Lachlan’s power, calling it a “raw deal.” While the ruling is not final, it must be approved by a district judge, and it is a significant setback for Rupert and Lachlan Murdoch, who plan to appeal.

This battle underscores deep fractures within the Murdoch family over the future of one of the world’s most influential media empires, which includes Fox News, The Wall Street Journal, and The New York Post. The fight highlights decades of shifting allegiances and ideological divides among the Murdoch siblings, further complicating the patriarch’s legacy as a conservative media titan.

The New Wealth Generator - Tender Offers

Tender Offers Gain Popularity as Private Companies Seek Liquidity Solutions.

If you’re an employee at a private company that has done well your bosses may be wealthy as a result of partial share sales but that opportunity may not have been made available to you. Private companies are now increasingly turning to tender offers as a strategic way to provide liquidity to employees and early investors.

💰️ Smart Money Matters 💰️ 

SMALL BUSINESS BREAKING NEWS

Corporate Transparency Act (CTA)

12/4/24 Update: A federal court has halted the implementation of the Corporate Transparency Act’s beneficial ownership reporting requirements. This will remain in effect until the conclusion of legal proceedings. As of this update, businesses are not required to comply with the reporting requirements.

The Corporate Transparency Act that went into effect January 1, 2024 was designed to combat money laundering and illicit illegal activities by requiring businesses to report beneficial ownership information to the Financial Crimes Enforcement Network (FenCEN).

The CTA required small businesses to disclose personal information about their owners that included names, addresses, and identification numbers.

Compliance required businesses to meet the reporting guidelines and submit the required information no later than January 1, 2025 or face steep penalties.

ECONOMY

Federal Reserve This Week

The Federal Reserve reports the Consumer Price Index (CPI) Wednesday morning. Later in the week the Fed reports U.S. Import & Export Prices Friday morning.

Fed Signals Slower Rate Cuts Economy Resilient

Federal Reserve Chair Jerome Powell suggested a more cautious approach to rate cuts, citing a stronger-than-expected economy. The Fed has reduced rates at its last two meetings, including a quarter-point cut in November to a range of 4.5%-4.75%.

Investors widely anticipate another quarter-point cut at the December 17-18 meeting, with futures markets pricing in a 75% likelihood. Powell, however, emphasized the need for caution as the Fed seeks a “neutral” rate that neither spurs nor slows growth.

Inflation has moderated but remains uneven, with core prices rising 2.8% in October—above the Fed’s 2% target. Upcoming employment and inflation reports will guide the Fed’s decision.

Powell also refrained from speculating on the economic impact of President-elect Donald Trump’s policies, including potential tariffs on Canada and Mexico, which could add uncertainty to the outlook.

FINANCE

Dollar Tree Management Woes Continue

Dollar Tree announced CFO Jeff Davis will resign after fiscal 2024, following the recent departure of CEO Rick Dreiling. Strong Q3 earnings beat expectations, prompting a sales guidance boost to $30.7-$30.9 billion. Interim CEO Mike Creedon, cited merchandising success, but noted ongoing strategic reviews, including a potential sale of Family Dollar.

Scotts Miracle Gro Management Shakeup

Scotts Miracle Grow CFO, Matt Garth, will exit the world largest producer of branded lawn and garden products at the end of 2024 in an abrupt ending as the company looks towards the next phase of its growth strategy.

The company also announced the two executive advancements to help fill the void until a permanent replacement is found for the CFO role.

POLITICS

Laura Trump, President elect Trump’s daughter in-law, announced she is stepping down as co-chair of the RNC. Her decision comes amid speculation Florida Governor Ron DeSantis will appoint her to a U.S. Senate seat, once it is vacated by Senator Marco Rubio who was selected to serve as Trump’s Secretary of State.

THE GRIND FACTORY ⚙️

UNIQUELY INTERESTING

💡 Epiphany Moments

A simple idea and a small investment create an interesting service behemoth.

In 1989 a 19 year old waiting in line at a McDonald’s drive thru in Vancouver, BC noticed a sign on the side of a beat up truck “junk removal”. Inspired Brian Scudamore came up with the thought that he could do better. Scudamore took $1,000 and started Rubbish Boys.

The investment amounted to the purchase of a $700 F-100 pickup truck with the remaining 30% spent on marketing materials. His goal was to create a professional and efficient junk removal service. The business gained traction and by years end he was able to pay his college tuition.

The company continued to enjoy success and grow then in 1998 rebranded into the well known 1-800-GOT-JUNK. Today the company operates in multiple countries and has become a leader in the junk removal business.

 🍎 One Smart Apple

When marrying right is right. Stan Kroenke is a billionaire whose wealth stems from both his entrepreneurial ventures and his connection to the Walton family, heirs to the Walmart fortune.

Kroenke's self-made success began with the Kroenke Group, a real estate development firm he founded in 1983. Kroenke Group specializes in shopping centers and apartment complexes. He expanded his empire by acquiring major sports franchises through Kroenke Sports & Entertainment owns the Los Angeles Rams, Denver Nuggets, Colorado Avalanche, and Arsenal F.C.

However, his marriage to Ann Walton in 1974, a Walmart heiress, significantly bolstered his financial foundation. This connection to one of the world's wealthiest families provided access to additional resources and opportunities that have shaped his rise 🍏 

 HEALTH & LONGEVITY •ᴗ•

The Essential Ingredient To Enjoy Longevity

A growing body of research emphasizes the importance of healthspan, the years spend enjoying good health, to be a more critical metric than lifespan. This is what the experts are saying:

Healthspan focuses on living healthier, not just longer, bridging the gap between the total years lived and the quality of those years. The period of life during which a person is in good health, free from chronic diseases or disabilities. Unlike lifespan, which measures the total years of life, healthspan focuses on the quality of those years, emphasizing vitality and functional independence.

How to Maximize Healthspan:

• Nutrition: Focus on anti-inflammatory foods (fruits, vegetables, healthy fats), avoid processed sugars, and consider intermittent fasting for cellular repair.

• Exercise: Combine aerobic activities, strength training, and balance exercises like yoga to maintain mobility and heart health.

• Sleep: Get a good nights sleep aiming for 7–9 hours with a consistent sleep.

• Stress Management: Practice mindfulness, meditation, or hobbies. Keep chronic stress to a minimum.

• Social Connections: Stay connected with friends and loved ones. Build new relationships and engage in community to combat loneliness.

• Brain Health: Stay sharp with puzzles, reading, or learning new skills; read The Grind Newsletter daily 😊 

• Avoid Harmful Habits: Quit smoking (yes, vapes too) and limit alcohol.

• Health Monitoring: Track key metrics e.g., blood pressure, cholesterol. Proactively seek out preventive care.

Focus on healthspan to ensure a long life, and vibrant enjoyable living.

🎁 Happy Holiday’s  🎄

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