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TECH TODAY

Elon Flexes: In what appears to be a regular occurrence Elon Musk is making himself known to a new industry, Congressional Politicians.

Aiwyn: Necessity is the mother of great inventions. This founder had a problem with a CPA firm and instead of complaining started a company to find a solution.

Rocket Man has problems: Elon Musk and his SpaceX have some issue to resolve.

 🎁 Happy Holidays 🎄

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 🎄 Happy Holidays 🎁🎅🎎🪔🧑‍🎄🤶

HEADLINE NEWS 👀

Kelce Inc. That’s Kyle Kelce!

When Kyle Kelce’s podcast unseated The Joe Rogan Experience as the top ranked show in the United States, the reaction was swift and loud. Rogan loyalists bristled with indignation (to bad). Others cheered the upset (yah) savoring the moment as a win for anyone outside Rogan’s orbit. But most people had one question, who the hell is “Kylie Kelce?”

That suits Kelce just fine. “I don’t need you to know who I am,” she said, leaning back in the cluttered comfort of her home studio outside Philadelphia. “In fact, I prefer it.”

Still, her last name carries weight. Her husband, Jason Kelce, the retired Philadelphia Eagles center, is a football legend and soon to be late night host. Her brother in-law, Travis Kelce, isn’t just a star tight end for the Kansas City Chiefs, he’s a super Swifty dating Taylor Swift. Together, the Kelce brothers host their own wildly popular podcast, New Heights, a multimillion dollar hit.

Kylie Kelce, however, has kept to the shadows, until now. Her new show, Not Gonna Lie With Kylie Kelce, debuted two weeks ago and promptly knocked Rogan from the top spot on Spotify and Apple Podcasts. Unlike the hours long bro talk Rogan is known for, Kelce’s episodes are lean and sharp, clocking in under 45 minutes. “Busy women don’t have time for three hour conversations,” she said bluntly.

Her podcast doesn’t ride on celebrity glitz or hard hitting interviews. Instead, it thrives on her raw honesty. She talks about motherhood, sometimes laced with profanity (WTF) her experiences as a coach, and her perspective on life as a woman in the orbit of professional sports. “Maybe it’s the promise that you’re not going to get lied to,” she said, describing her show’s appeal.

Wave Sports + Entertainment, the company behind Kelce’s podcast, says it’s their most successful launch ever, racking up 25 million audio downloads and social media views in its first week. For now, Not Gonna Lie holds the No. 1 spot on Apple Podcasts and regularly trades first place with Rogan on Spotify.

“I’m focused on making content people like,” Kelce said, unfazed by the hype, or the critics. Sports radio hosts have mocked her. Rogan’s fans have called her podcast’s numbers a fluke. “That kind of stuff fires me up,” she admitted with a smirk.

Kelce is clear eyed about her position. Rogan still has millions more followers and a much larger reach. But she’s not chasing comparisons. “I couldn’t care less about the charts,” she said, pausing to wipe crumbs from a couch scribbled on by her daughters.

What she does care about is staying relatable. Despite her growing fame, Kelce keeps things grounded. She coaches field hockey at the public high school she attended, where she plans to send her children. Her house is comfortably chaotic, “an unapologetic mess,” as she describes it.

That relatability has made her a favorite among listeners looking for conversations that feel intimate and unscripted. Michaela Hammond, CEO of OffBall Media, said Kelce taps into an underserved audience: “People who care about sports, but in a conversational, water cooler way.”

Kelce’s bluntness extends to her politics, a rarity in sports adjacent media. She describes herself as “aggressively left-leaning” and praises figures like Michelle Obama and Pennsylvania Governor Josh Shapiro. Her stance has drawn criticism online, with strangers speculating about her political leanings or even driving by her house waving Trump flags.

Does she care? Not really. “I don’t care what other people have to say,” she said, dismissing the noise with the same candor that has defined her rise.

Kelce may not have set out to take down podcasting’s king, but she’s claimed the throne for now, and she’s perfectly happy letting the critics fume.

Nike On Sale Slashes Prices to Clear Inventory

On one of the busiest shopping weekends of the year, Nike stood alone at Macy's iconic Herald Square in New York City, offering 30% discounts on most of its footwear. It’s a rare sight for the sneaker titan, and one that underscores its urgent need for cash.

Chief Executive Elliott Hill, who took the helm in October, has made it clear: clearing inventory is the priority. Nike is cutting prices so sharply on its website that it’s not only risking its own holiday sales but also putting pressure on its retail partners. A pair of Dunk sneakers, for example, sells for $115 at Dick’s Sporting Goods or Foot Locker, but just $85 on Nike’s own platform.

The aggressive discounting reflects a company in recovery mode. Nike is set to report its third consecutive quarterly sales decline this Thursday a 9% drop compared to the same period last year, according to analysts polled by FactSet. Hill, a veteran of the brand, is expected to present his turnaround strategy after a bruising year of overstocked shelves and missed targets.

Nike’s strategy of prioritizing direct to consumer sales once delivered record profits. But early last year, the cracks showed. Executives realized they were sitting on too much merchandise and needed retail partners to help offload it. Now, the company is rekindling ties with stores like Foot Locker and Macy’s, relationships it had once sidelined.

While the discounts are helping clear inventory, they’re also taking a toll. “The cleanup has already dented the results of Nike’s big retail partners,” noted The Wall Street Journal. The question now is whether Hill’s playbook can steady the brand as it races to regain its footing in a fiercely competitive market.

Nike’s quarterly results, due Thursday, will reveal just how much ground it has gained or lost in the fight to recover.

FedEx to Spin Off Freight Division Amid Weak Demand

FedEx is making a bold move to streamline its operations and unlock hidden value. FedEx plans to spin off its freight trucking division. The freight arm, the nation’s largest less than truckload (LTL) operator, will become a separate public company within 18 months, a decision that sent FedEx shares surging 8% in after hours trading.

This comes as the delivery giant grapples with an 18% drop in quarterly profits and weaker demand in both its freight and U.S. parcel businesses. The freight division, with over 30,000 vehicles and 350 facilities across North America, generated $9 billion in revenue last fiscal year. Analysts argue the unit could command a higher valuation as an independent entity, aligning with calls from investors like activist firm D.E. Shaw for structural change.

Freight is currently the smallest revenue contributor among FedEx’s three major divisions Express, Ground, and Freight, and operates independently of the others. While FedEx is in the midst of merging its Express and Ground units, Freight’s spinoff marks a departure from the company’s push for integrated services.

The announcement comes amid broader pressures on FedEx and rival UPS to adapt to market conditions post pandemic. As package volumes slow, both companies are rethinking their strategies. UPS sold its LTL business in 2021 and recently divested its freight brokerage division. For FedEx, the spinoff reflects a bid to revive its fortunes in a sector where valuations, like that of Old Dominion Freight Line, have soared this year.

FedEx Freight’s ability to knit together supply chains, linking factories, warehouses, and stores has positioned it as a critical player in LTL trucking. But as demand wanes, FedEx’s leadership has pivoted to cost cutting and restructuring to shore up the bottom line.

The company’s fiscal second quarter results highlight the challenges. Revenue slipped 1% to $88 billion, and package volume fell about the same amount. Adjusted per share earnings for the year are now projected at $19 to $20, down from earlier estimates. Analysts had anticipated $19.44 per share, reflecting tempered growth expectations.

With a current market valuation below $70 billion, FedEx’s share price lags behind its freight unit’s perceived worth. For context, Old Dominion, smaller in revenue but second in the LTL sector, boasts a $40 billion market cap. Investors hope the spinoff will unlock similar value, repositioning FedEx in an evolving logistics 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

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

Affirm Affirms Sale Of Buy Now Pay Later Loans

Affirm has secured its largest capital commitment to date, agreeing to sell up to $4 billion of its buy now pay later loans to private credit firm Sixth Street over the next three years. This move taps into growing demand from private credit markets and aims to diversify Affirm's funding sources as it scales its operations.

The San Francisco company, which facilitates short term loans for online purchases, reported a 35% increase in gross merchandise volume in the quarter ending Sept. 30, reaching $7.6 billion. Affirm funds its business through a combination of loan sales, asset backed securitizations, and warehouse funding. As of Sept. 30, its total funding capacity stood at $16.8 billion, up from $13.1 billion a year prior.

Under the new agreement, Affirm will sell loans to Sixth Street through a joint venture, emphasizing a collaborative, long term capital approach. Affirm’s leadership highlighted the deal as a strategic step to secure durable funding and position the company for future growth amid rising private credit trends.

This partnership reflects Affirm’s broader strategy to expand its funding capacity as it targets $50 billion in gross merchandise volume. The company plans to continue pursuing additional deals while maintaining its presence in the asset backed securities market and other funding avenues.

POLITICS

Agreeing To Disagree Congress

UPDATE (Dec 20 01:24 EST): Trump's Grip on GOP Faces Rare Defiance

President elect Donald J. Trump’s control over the Republican Party faltered Thursday night when 38 GOP lawmakers defied his command to pass a spending and debt bill.

Trump had urged Republicans to back the measure, which would fund the government into next year and suspend the debt limit until 2027. Despite his warning that opposing the bill could invite primary challenges, rebel conservatives joined Democrats to sink the legislation, bringing the U.S. a day closer to a government shutdown.

The defiance didn’t come from moderates but from Trump aligned conservatives who opposed raising the debt limit for two years, arguing it would fuel unchecked spending. Trump countered the move was crucial to clearing obstacles for his agenda.

The rare rebellion raises questions. Is Trump’s hold on the GOP slipping as he prepares to return to office, or was this an isolated dissent? With a razor thin Republican majority next year, Trump may face more tests of loyalty. The stakes couldn’t be higher, for his agenda. And the careers of those willing to cross him.

(Dec 19 18:00 EST) President elect Trump’s condemnation of a stopgap spending bill has plunged Republicans into disarray, leaving Speaker Mike Johnson scrambling to prevent a government shutdown. Trump’s opposition derailed the bipartisan agreement Johnson negotiated, forcing the Speaker to choose between pushing forward, with a bill that lacks Republican support, or attempting to incorporate Trump’s demands a near impossible task. The Democrats control the Senate and there is resistance from some Republicans too.

Trump’s criticism came after billionaire Elon Musk, recently tapped by Trump to lead a proposed Department of Government Efficiency, publicly attacked the spending deal on Wednesday. Musk, the world’s richest man, used his platform to spread misinformation about the agreement and threatened political repercussions for lawmakers who support it, further complicating Johnson’s efforts to rally his party.

With the government facing a shutdown at 12:01 a.m. Saturday, Congress has little time to navigate the impasse. Any revised bill must pass both the Republican led House and Democratic controlled Senate before reaching President Biden’s desk. Trump’s demands for major changes to the deal add urgency to an already fraught situation, leaving congressional leaders racing against the clock to find a resolution.

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  🎄

Conquer Winter in Style: Best Men’s Sneakers from Nike Air Max.

Winter is here, and it’s time to elevate your look while staying warm and comfortable. The Nike Air Max collection is perfect for the modern man ready to tackle the season. From the edgy Air Max Plus to the versatile AM1, these sneakers combine style with features designed to keep your feet happy all winter long.

Whether you're tackling holiday shopping or celebrating with friends, these kicks are your perfect companion. Find your ideal pair and effortlessly elevate your winter wardrobe this season.

Treat yourself or a loved one to a stylish pair from the collection this holiday season.

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