In partnership with

TECH TODAY

Jay-Z’s Investment Company Merges With Another: Marcy Venture Partners merges with Pendulum Partners to form the newly branded MarcyPen Capital Partners.

Autonomous Trucking Company Founder Goes Rogue: You don’t see this everyday. TuSimple’s ex-CEO wants to elect an entirely new board who will liquidate the company.

What’s Next For Apple iPhone: Foldable iPhones described as big iPads.

 🎁 Happy Holidays 🎄

2025 Prediction: A Surge of Self-Serve CTV Buyers

Roku predicts that 2025 will be a breakthrough year for self-serve CTV advertising. Roku Ads Manager makes it easy to integrate CTV into your 2025 marketing mix. Easily segment your target audience, optimize campaigns in real-time, and drive conversions with interactive ad formats and shoppable ads with a Shopify integration. Roku Ads Manager makes CTV advertising accessible and impactful for businesses of any size.

Discover CTV Performance on Roku

 🎄 Happy Holidays 🎁🎅🎎🪔🧑‍🎄🤶

HEADLINE NEWS 👀

Amazon Faces 3rd Strike As Teamsters Escalate Union

Amazon is facing escalating labor tensions with the Teamsters as workers at its Skokie, Illinois delivery station voted to authorize a strike, marking the third facility in less than a week to do so. The move follows similar votes at Staten Island’s JFK8 and Queens’ DBK4 facilities, as workers demand contract negotiations amid the busy holiday season.

The Teamsters union, representing hundreds at the Skokie site and over 1.3 million workers across North America, set a Dec. 15 deadline for Amazon to begin bargaining. With no response, the union warned that strikes could disrupt operations nationwide.

Amazon has pushed back, accusing the Teamsters of misleading the public about their influence. “Teamsters don’t represent thousands of our employees,” said spokesperson Eileen Hards, adding that the union’s actions include alleged threats and coercion, which are under legal review.

The standoff comes months after Amazon pledged $2 billion to boost driver pay, raising the national average to nearly $22 an hour. Despite the investment, union organizing efforts continue to gain momentum as tensions rise over workers’ demands for better conditions and wages.

The Rogue Ride App Giving D.C. & Uber A Headache

On any given day outside Washington’s Union Station the usual parade of Ubers, Lyfts, and taxicabs rolls to the curb, but tucked in the mix is an unmarked sedan. It drops off a passenger, smooth as you like, before slipping into traffic. To the casual observer, it’s just another ride. To D.C.’s regulators, that’s Empower, and it’s driving them mad!

Empower is the ride hailing upstart that’s ruffling feathers and emptying wallets but not of drivers or passengers. Launched in 2019, the company is now doing 100,000 rides a week, grabbing a cool 10% of the D.C. market, more than taxis. The pitch is simple, drivers pay a flat subscription fee (about $350 a month) set their own rates, and pocket every last cent of the fare. Riders get cheaper trips, drivers make more money, and Empower marches on like the industry’s Robin Hood.

There’s just one hitch, Empower operates without registering with the city’s Department of For Hire Vehicles, and regulators are not amused. Over the last four years, the company has stacked up a staggering $100 million in unpaid fines while shrugging off cease and desist orders like crumbs off a table. For D.C. officials like Jonathan Rogers, who heads the agency, and Council member Brianne Nadeau, who leads the oversight committee, Empower isn’t just a nuisance it’s a menace that needs to be stopped.

But if you think Empower founder Joshua Sear is worried, think again. The former corporate lawyer has taken a page straight out of Uber’s old playbook, disrupt first, regulate never. Sear has mobilized drivers for protests, held rallies in front of City Hall, and sent Empower riders flooding officials’ inboxes with stories of how the app saves them money. Some riders talk of cheaper trips to cancer treatments and doctor appointments. Others...well, others complain about drunk drivers, creepy flirting, and vanished belongings. Empower calls it the price of freedom drivers are “independent contractors,” after all, but for regulators it’s just another reason to pull the brakes.

City officials have tried to play tough. Cars have been impounded, fines have been issued, and enforcement officers occasionally order fake rides to catch drivers red handed. But Empower’s drivers, many of them immigrants or gig workers scraping together a living, just pay the fines and get back on the road. As one driver shrugged, “I make $350 here for every $200 I’d make with Uber. Worth the risk.”

Empower’s lawlessness hasn’t slowed its ambitions. Last month, the company expanded into Baltimore, with Sear teasing plans for even more cities. When asked about the possibility of criminal charges yes, criminal charges he laughed, lifted his hands above his head as if being handcuffed, and said with a grin, “Bring it on. You’ll only make Empower even bigger.”

D.C.’s regulators aren’t backing down, though. With lawsuits, contempt orders, and mounting pressure, officials like Nadeau are determined to stop what they see as a brazen disregard for the rules. But at the heart of it all lies a simple, chaotic truth, Empower has tapped into the same spirit of rebellion that once made Uber a juggernaut. Drivers want more money. Riders want cheaper rides. And the rules, well, the rules are just getting in the way.

Whether Empower will flame out in a spectacular legal blaze or become the next big thing in ride hailing remains to be seen. For now, Washington’s streets are Empower’s playground, its regulators’ headache, and its founder’s proving ground. Somewhere, in the great halls of tech disruptor history, Uber’s Travis Kalanick is probably watching this chaos unfold, popcorn in hand, and thinking: “I’ve seen this movie before.” 🎥 

Germany Government Collapses Ahead Of Elections

Germany’s government collapsed Monday after Chancellor Olaf Scholz lost a confidence vote in Parliament, leaving Europe’s largest economy in political limbo at a time of mounting economic and security crises. The snap election, set for February 23, will mark only the fourth in modern Germany’s history and comes amid escalating challenges such as the war in Ukraine, economic stagnation, and strained EU leadership.

Scholz’s three-party coalition fractured in November after months of budget disputes and internal tensions. With no parliamentary majority, the chancellor faced no choice but to call for a confidence vote. Polls predict Scholz’s Social Democrats will lose to the conservative Christian Democrats, led by Friedrich Merz, as seven parties vie for seats.

The campaign will center on key issues, including Germany’s defense spending, faltering infrastructure, immigration, and growing political polarization. Rising threats from Russia and economic uncertainty with China add to the stakes, as does the return of Donald Trump to the U.S. presidency, raising concerns over NATO commitments.

Scholz’s cautious stance on military aid to Ukraine has boosted his approval ratings slightly but is unlikely to reverse his party’s fortunes. Meanwhile, far-right Alternative for Germany (AfD) continues to gain ground, complicating coalition prospects in an already fragmented political landscape.

Elf On The Shelf 'Twas the Toy They Said Would Fail’

Not all toys begin their journey to stardom wrapped in shiny paper and bow topped. Some toys, like this holiday underdog, are written off as misfits,

destined for the damaged goods bin, naysayers declared. Yet, like Rudolph finding his glow, this creation defied expectations and soared straight into the hearts of families.

It’s a tale as magical as Santa’s sleigh ride. Once dismissed as a flop, the toy's creators tinkered like Christmas elves, fine-tuning every detail. With a sprinkle of innovation, a dash of resilience, and perhaps a bit of holiday luck, their product transformed into a phenomenon as beloved as a roaring yule log. Brandy and eggnog flowed in celebration.

Now, shelves are emptied faster than Santa's sack on Christmas Eve, and the toy is the season's must have gift. Proof even underdogs can shine brighter than the North Star.

💰️ Smart Money Matters 💰️ 

Culture Corner

Inspirational Small Business story.

* SMALL BUSINESS OWNERS NEWS *

Corporate Transparency Act (CTA)

12/11/24 Update: U.S. Businesses May Face $10K Fines for Missing Ownership Reporting Deadline Under New Law

Small businesses must comply with the Corporate Transparency Act (CTA) by reporting beneficial ownership information (BOI) to the Treasury's Financial Crimes Enforcement Network (FinCEN) by Jan. 1, 2025. The CTA, passed in 2021, targets illicit finance by requiring transparency around who owns or controls companies operating in the U.S.

An estimated 32.6 million businesses, including corporations and LLCs, are subject to the new rules. Noncompliance could result in fines of $10,000 or more, plus possible jail time for "willful" violations.

Despite the looming deadline, many businesses remain unaware or unprepared. The Treasury has not disclosed how many BOI reports have been filed so far. A federal court in Texas has temporarily halted enforcement of the law, but the mandate is still in place.

The law seeks to prevent crimes like money laundering, terrorism, and corruption by eliminating the anonymity often enabled by shell companies. As Treasury Secretary Janet Yellen emphasized during FinCEN's BOI portal launch in January, "Corporate anonymity enables money laundering, drug trafficking, terrorism, and corruption."

For more details, visit FinCEN’s Corporate Transparency Act page or learn about beneficial ownership reporting here.

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.

ECONOMY

Powell’s Mixed Signals On Fed’s Rate Cut Strategy

Federal Reserve Chair Jerome Powell faces a critical moment as officials prepare for a possible third consecutive rate cut this week. Despite earlier support for reductions, internal divisions have emerged. Inflation appears slightly firmer, and the labor market has shown resilience, adding an average of 140,000 jobs monthly, though unemployment has risen to 4.2%.

Powell’s strategy centers on balancing risks: cutting rates too much could fuel inflation, but tightening too little might stall economic growth. Recent data suggest housing and other rate-sensitive sectors have been slow to respond to prior cuts. Some officials, like Fed governor Michelle Bowman, warn against further reductions, fearing prolonged inflation and overheated markets.

Powell has emphasized the importance of precision, hinting the Fed might slow the pace of rate cuts after this week. The fed-funds rate, which impacts borrowing costs for mortgages and loans, plays a crucial role in steering economic activity, though its effects often take months to materialize.

With investors expecting another quarter-point reduction, Powell must navigate internal skepticism and public expectations. “We’re mindful of the risks,” he said, “but it seems we’re right where we need to be.” A careful balance remains key as the Fed charts its next steps.

Americans Stockpile Goods With Tariff Fears

Tariff worries are fueling a spending spree among Americans, with many rushing to upgrade cars, appliances, and stock up on goods before potential price hikes. A University of Michigan survey found 25% of Americans now believe it’s a good time for big purchases, up from 10% a month ago a record high. Meanwhile, a third of respondents in a CreditCards.com survey reported buying more due to tariff concerns.

Economists warn that such preemptive spending could inadvertently fuel inflation. The consumer-price index rose 2.7% year over year in November, driven partly by surging durable goods purchases linked to President elect Donald Trump’s proposed tariffs. Trump has floated steep tariffs on imports from countries including China, Mexico, and Canada, ranging from 25% to 100%.

“People might think, ‘If I’m going to buy a TV next year, maybe I should buy it now,’” said Robert Barbera of Johns Hopkins University.

Consumers like Cape Cod resident Gerard Szarek, 66, are taking no chances. He’s stockpiling coffee, paper goods, and other essentials, spending $44,000 on a Toyota RAV4 hybrid and $2,300 on a new washer and dryer. “Always be prepared,” said Szarek, who fears tariffs and labor cost increases.

Others, like New York designer Tia Hrubala, are targeting smaller items. She stocked up on European skincare products and replaced her car battery early, saying, “I wouldn’t want to take that risk.”

Retailers and manufacturers are warning of price increases. Best Buy CEO Corie Barry said tariffs will likely be passed on to consumers, with executives from Walmart, Lowe’s, and AutoZone echoing the sentiment. Some businesses are stockpiling imports to get ahead of potential costs.

Historically, tariffs have led to significant price hikes. For example, Trump’s 2018 tariffs on washing machines resulted in a 10% price increase, according to Duke economist Felix Tintelnot.

Shoppers are also splurging on luxury goods. Christopher Foote, a software consultant in California, spent over $12,000 on electronics, citing fears of another round of price spikes. Content creator Christina Liu in Los Angeles stocked up on computer chips ahead of Biden’s proposed semiconductor tariff hike and potential increases under Trump.

The rush to buy now may lead to higher prices later. Columbia economist Harrison Hong warns that hoarding could trigger shortages and further inflation. “If the run is big enough, retailers will have to raise prices,” he said.

For many, the strategy is simple: act now, just in case. “If I’m wrong, at least there’s a return policy,” said Foote.

FINANCE

Bitcoin's Long Journey to $100K Sparks Divided Wall Street

Bitcoin’s climb to a $100,000 valuation has been marked by wild volatility and skepticism, even as it grows into a $2 trillion asset class. Renewed optimism about digital assets, particularly under a potential Trump administration, has fueled a crypto resurgence, pushing the total market cap toward $4 trillion. Wall Street’s top voices, however, remain split on its value and utility.

Jamie Dimon, CEO of JPMorgan Chase, remains a staunch critic, famously branding Bitcoin a “fraud” in 2017 and calling it a “pet rock” this year. Despite his skepticism, JPMorgan has embraced blockchain and facilitated Bitcoin-linked ETFs.

Larry Fink of BlackRock has flipped from dismissing Bitcoin as a “money-laundering index” in 2017 to championing it as “digital gold” and a portfolio hedge against instability. His firm now operates the world’s largest Bitcoin fund.

Ken Griffin, Citadel’s CEO, once likened crypto enthusiasm to a “jihadist call against the dollar.” While admitting his earlier criticism was a mistake, he questions Bitcoin’s economic utility, calling it a bubble.

Warren Buffett has been an unwavering detractor, dismissing Bitcoin as “rat poison squared” and a product of gambling instincts.

Ray Dalio, founder of Bridgewater, has softened his stance, calling Bitcoin “one hell of an invention” and likening it to gold. However, he warns government crackdowns remain its biggest risk.

As the crypto market evolves, Wall Street’s top players wrestle with its potential, divided between embracing innovation and challenging its purpose.

POLITICS

ABC News Settles Trump Defamation Lawsuit

ABC News has agreed to pay $15 million to Donald Trump’s presidential foundation or museum to settle a defamation lawsuit filed by the president-elect over comments made by anchor George Stephanopoulos. The network will also cover $1 million in legal fees for Trump’s lawyer, according to court filings released Saturday.

The lawsuit stemmed from a March broadcast of This Week, during which Stephanopoulos incorrectly stated that Trump had been found civilly liable for raping writer E. Jean Carroll. A federal jury had actually determined Trump was liable for sexual abuse, not rape.

As part of the settlement, ABC News issued a public statement expressing regret over the comments. “We are pleased the parties have reached an agreement to dismiss the lawsuit,” an ABC spokesperson said.

The settlement follows Trump’s legal battles with Carroll, in which he was found liable in 2023 for sexual abuse and defamation, resulting in $5 million in damages. In 2024, a jury awarded Carroll an additional $83 million for further defamation by Trump. Both verdicts are under appeal.

THE GRIND FACTORY ⚙️

UNIQUELY INTERESTING

💡 Epiphany Moments

The Salesforce origination story began In March 1999 when Marc Benioff and his trio of collaborators—Parker Harris, Dave Moellenhoff, and Frank Dominguez set out to revolutionize software delivery. Working out of a one bedroom cozy apartment in San Francisco's Telegraph Hill they envisioned a groundbreaking new concept. Software delivered over the internet rather than installed on physical servers or hard drives. This bold idea became the foundation of Software-as-a-Service (SaaS).

The startup was unconventional from day one. Their mantra was simplicity and speed, and even Benioff’s dog, Koa, pitched in holding court as the “Chief Love Officer.” When Salesforce officially launched on February 7, 2000 its tagline, “The End of Software,” declared war on traditional computer industry methods.

Salesforce weathered the dot com crash and saw explosive growth during this tumultuous period. By 2003 they had hit 10,000 customers. A year later, they made history by going public and cementing their place as a SaaS pioneer. Today, Salesforce is a cloud computing juggernaut, shaping the software world it once sought to disrupt.

 🍎 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 Surprising Perks Of Aging

Turns out the old adage “with age comes wisdom” is more than just a cliché. According to Laura Carstensen, director of Stanford’s Center on Longevity, aging brings emotional clarity. With fewer “what ifs” clouding their minds, older adults embrace the present and feel better for it.

Contrary to popular belief, getting older doesn’t necessarily mean becoming lonelier or more anxious. Research shows that older people tend to handle life’s challenges like grief, health issues, and ageism better than their younger counterparts. Why? They’ve learned to focus on the positives, leaving the stresses of constant future planning behind.

With life expectancies rising and centenarians expected to quadruple by 2055, Carstensen says it’s time to rethink how we live those extra years. Her “New Map of Life” proposes bold ideas: longer childhoods, gap years during high school for internships or community service, and flexible work schedules that reflect life’s changing demands. Retirement, she suggests, shouldn’t happen at 65 by default but whenever it makes sense.

As we age, Carstensen notes, we see our place in the world more clearly. "People figure out what they’re good at and what they’re not and learn to be OK with it,” she says.

With advances in health and technology, longer lives are a gift, but only if society evolves alongside them. Carstensen’s advice? Embrace aging as an opportunity to live more fully, not just longer. After all, the best years might still be ahead.

🎁 Happy Holiday’s  🎄

Hire Ava, the AI SDR & Get Meetings on Autopilot

Ava automates your entire outbound demand generation process, including:

• Intent-Driven Lead Discovery

• High Quality Emails with Waterfall Personalization

• Follow-Up Management

Free up your sales team to focus on high-value interactions and closing deals, while Ava handles the time-consuming tasks.

Book a demo to see how Ava can 10x your outbound.

We value your voice and encourage you to connect with us. Follow us on social media to stay updated, or reply directly to this email. We read every message. Your feedback keeps us going, so please let us know how we’re doing.

The Grind may earn an affiliate fee if you purchase books, products, or services through our links.