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TECH TODAY

Juicyway: This FinTech startup processed $1B of transactions based on word of mouth. Then it launched.

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.

 🎁 Happy Holidays 🎄

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 🎄 Happy Holidays 🎁🎅🎎🪔🧑‍🎄🤶

HEADLINE NEWS 👀

NVIDIA Targets Small Business With Jetson

In a galaxy not so far away, Nvidia has unleashed a tiny AI brain that’s ready to power your drones, robots, and other gadgets without blowing up your credit account, or requiring a spaceship sized server. Behold the Jetson Orin Nano Super, a $249 marvel that’s half the price of its predecessor and nearly twice as fast, setting the stage for AI to colonize the “edge.”

What’s the edge, you might ask? It’s where machines think locally, not in distant data centers, so there’s no intergalactic lag just lightening ⚡️ speed. Think factory robots, smart cameras, and drones zipping around like caffeinated fireflies (looking at you New Jersey) all running sophisticated AI computations in real time, while playing chess ♟️ 

Think of the Jetson as your very own personal “Rosie the Robot” ready to take care of any task at anytime.

In its latest tech reveal, the Nvidia overlord Jensen Huang traded his usual grand server halls for a bit of whimsy, presenting the new Jetson compact, a palm sized, and “fresh out of the oven” gadget on a tray. The message was AI’s no longer just for supercomputers or deep pocketed tech empires. Now, hobbyists, students, and small inventors can take a piece of the action, too.

The Jetson Orin Nano Super processes 70% more tasks than its predecessor, making it perfect for everything from consumer gadgets to industrial automation. Meanwhile, its bigger sibling, Jetson Thor, is built for the ambitious. A muscle bound machine brain meant to drive humanoid robots and other futuristic creations.

"This is the time, finally, when generative AI capability is coming to the edge," declared Deepu Talla, Nvidia’s VP of Robotics and Edge Computing, sounding just a tad like a sci-fi prophet ushering in the robot uprising (a friendly one, we hope 😉).

Of course, rivals Intel, Google, and Qualcomm are lurking in the shadows with their own AI systems for specific tasks like vision processing. But Nvidia’s Jetson stands out as a jack of all trades. And versatile enough to handle "all the latest, and greatest generative AI models." Translation, whatever crazy ideas you’ve got, Jetson can probably power it.

And here’s a twist fit for the plot of a Jetson space opera: While Nvidia’s most advanced hardware has been grounded by U.S. restrictions in China, the Jetson Nano Super will make its way into Chinese markets via local distributors.

All joking aside, Jetson could be an affordable game changer for small business entrepreneurs who want to narrow the technologic gap to get a leg up on their industries larger and better capitalized competitors.

So, tinkerers, tech dreamers, and small business entrepreneurs the future is here. And it fits in the palm of your hand. If your toaster starts chatting with you about your vacuum cleaner or your HP 12B suddenly develops ambition, just remember, it might be powered by a Jetson. I knew a Jetson would one day conquer the world!

Databricks Is Data With Deals And Surgical Precision

Ali Ghodsi doesn’t just run Databricks he performs “surgery” on it. The Iranian born, Swedish raised CEO took the data software startup from a scrappy university project to a $62 billion Silicon Valley powerhouse, backed by $10 billion from big name investors like Andreessen Horowitz.

It all started with Spark, a lightning-fast data tool Ghodsi co invented at Berkeley. Ben Horowitz of Andreessen Horowitz, wrote him an $11 million check (when he only asked for $200k), and Databricks was born. But Ghodsi had work to do. He stopped giving software away for free, hired an army of salespeople, and charmed Microsoft into a game changing partnership.

When Databricks got bloated, Ghodsi grabbed the scalpel. He introduced the now legendary Conte Curve, a chart tracking profitability, and trimmed costs without laying anyone off. Instead, his engineers built AI bots like R2-D2 to handle grunt work.

Growth didn’t stop there. Ghodsi went shopping. He paid $1.3 billion for MosaicML to supercharge AI and $2 billion for Tabular, beating rival Snowflake’s offer. Investors demanded efficiency, and Ghodsi delivered, doubling revenue to $2.6 billion while keeping his company lean.

Now Databricks has a fresh $10 billion in funding and IPO chatter buzzing. But for Ghodsi, it’s just another patient on the table. With a surgeon’s precision and a penchant for bold moves, he’s turned Databricks into a Silicon Valley success story, one data point at a time.

U.S. Retails Sales On The Rise

U.S. retail sales rose 0.7% in November, reflecting continued strength in consumer spending as the holiday season kicked off. The Commerce Department reported Tuesday that sales improved from a revised 0.5% increase in October, surpassing economists’ expectations of a 0.5% gain.

Motor vehicle and parts dealers drove much of November's growth, with sales jumping 2.6%, bolstered by replacement demand following fall hurricanes in the Southeast. Excluding cars, car parts, and gasoline, sales rose a more modest 0.2%.

Online and non store retailers saw a notable 1.8% increase, highlighting strong ecommerce activity, while sales at stores selling sporting goods, books, and hobby items climbed 0.9%.

However, not all sectors benefited. Department store sales dipped 0.6%, and stores categorized under "miscellaneous" saw a sharper 3.5% decline.

The latest data reflects consumer resilience despite economic uncertainties, as shoppers continue to spend amid easing inflation and a stable job market. Analysts will watch closely to see if this momentum carries through December as holiday spending peaks.

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

🎸 Lainey Wilson From Montana Ranch to Nashville Glory 🎶

WELL, WELL, WELL, FOLKS, LET ME TELL YA Yellowstone may have ended, but one of its characters is just getting started.

Lainey Wilson, already strumming her way into the hearts of Nashville, strolled onto the Yellowstone set in Montana back in 2022. A soulful country singer turned actress (sorta), she brought to life Abby, a friend of the Dutton family with a guitar in hand and a twinkle of real world country girl grit. Creator Taylor Sheridan saw something in Lainey before she even did, and created the character (Abby) just for her from the jump.

Now, if you’re countin’ her acting credits, she admits her first role was impersonating Hannah Montana at kids’ birthday parties. But fast-forward a few years, and Wilson’s doing concerts on Montana ranches and winning Entertainer of the Year at the CMAs. Putting her in league with Taylor Swift. Oh, and let’s not forget Reba McEntire just invited her to the Grand Ole Opry alongside Dolly, Vince, and the legends. That’s the kind of pinch me country magic dreams are made of, yeehaw!

Lainey’s part of a new Nashville wave, kids born in the early ‘90s, who blend old school honky tonk with outlaw flair, a ‘70s vibe, and a dash of modern rock. She’s got pipes, and adds a true sense of twang to her verses. “Country’s cool again,” she says, pointing out that cowboy hats, Wranglers, and horse riding videos are taking over TikTok. (City slickers, we see you.) Sheridan’s Yellowstone world, she reckons, lit a fire under country culture, makin’ folks crave authenticity like a home cooked meal.

But this gal’s rise to the top wasn’t overnight, she fought for it one bell bottom flare and big cowgirl hat at a time, sayin’, “If I’m gonna stand out, I’m gonna go all in.” Nashville didn’t always think her sound was “cool,” but she trusted her gut, trucked along, and found her people. Now, now she’s got a whirlwind of a career, a happy heart with Duck Hodges at her side, and a fresh new chapter brewin’.

Lainey Wilson ain’t slowin’ down, y’all. She’s ridin’ high, staying true, and remindin’ us all why country music’s got soul. If you don’t know her yet, you will. Listen in…

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

U.S. Industrial Production Continues Its Slide

U.S. industrial production declined for the third consecutive month declining by 0.1% in November, according to the Federal Reserve. Economists had expected a 0.3% increase.

Manufacturing output rose by 0.2%, driven by gains in car production, which grew 3.5%, and machinery, up 2.1%.

Business equipment production increased by 1.2%, but consumer goods production remained flat.

Utilities output fell 1.3%, while mining dropped 0.9%.

Aerospace production declined by 2.6%, despite the resolution of the Boeing strike, due to weaker aircraft parts output. Capacity utilization ticked down to 76.8% from 77% in October.

FINANCE

Innovating Processes Using AI To Increase Sales

Mondelez International is using AI to revolutionize its snack recipe development, speeding up the process while reducing trial and error. For Kevin Wallenstein, a health-conscious manager in biscuit R&D, fewer taste tests could be a welcome shift. “The number of tastings we have is not fun,” he admits, recalling his time working on Sour Patch Kids.

The AI tool developed with software firm Thoughtworks lets Mondelez scientists input desired traits like flavor, aroma, appearance, and ingredient cost. In turn, the system generates optimized recipes, tested for production much faster than before. While human tasters still have the final say, the tool has already contributed to over 70 projects, including offshoots like Gluten Free Golden Oreos.

Mondelez’s North American R&D center in rural New Jersey, awash in the company’s signature purple, is the heart of this AI-driven innovation. Though the tool isn’t generative AI like ChatGPT, its machine learning algorithms are trained on snack specific data, ensuring recipes retain the “essence” of beloved brands like Oreos and Chips Ahoy.

CEO Dirk Van de Put’s push for constant product evolution has helped Mondelez outperform rivals amid challenging market conditions, with organic sales rising 5.4% last quarter. Analysts credit the company’s adaptability and quick innovation cycles.

While AI accelerates development, humans still hold the reins to prevent bizarre recipes early versions once overloaded cookies with baking soda to save costs. As for the Oreo’s evolution? That secret stays between Mondelez and its AI.

POLITICS

SoftBank’s Masayoshi Son Kisses The Ring

SoftBank’s Masayoshi Son, ever the showman, took the stage Monday alongside President elect Donald Trump at Mar-a-Lago to drop a big, shiny number, $100 billion for AI and tech investment in the U.S., promising 100,000 jobs in just four years. It’s a headline grabber, but there’s a catch, SoftBank doesn’t have $100 billion.

Son, who hailed Trump as a “double down president,” seems to be doubling down himself on hype, not hard cash. To fulfill his pledge, SoftBank will need to cobble together a mix of massive fundraising, dizzying debt, or sell off prized assets. In reality, analysts say this grand promise is more of a rebrand for SoftBank’s existing AI ambitions, a flashy bow wrapped tightly around an old, maybe empty, gift box.

Son’s timing is no accident. SoftBank’s U.S. fortunes often hinge on federal decisions, and Son knows it. Trump’s first term greenlit SoftBank’s Sprint/TMobile merger after Obama’s administration had shut it down. Now, with stakes in TikTok parent ByteDance and chip giant Arm, SoftBank’s fingers are firmly in pies shaped by trade policy, tariffs, and China.

As for those 100,000 jobs, good luck. AI’s appetite for human labor is famously underwhelming. SoftBank itself employs just 65,000 people worldwide, while Meta, worth $1.6 trillion, barely tops 72,000. Even shiny new AI data centers often run on a skeleton crew.

But Son loves the big bet. Whether he’s building empires or papering over promises, Wall Street seemed content SoftBank shares ticked up 4.4%. For now, Son’s $100 billion is more sizzle than steak.

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  🎄

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