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TECH TODAY

Silicon Valley: The king of rainmakers Silicon Vallet VC’s rein supreme in Venture funding in 2024.

Baseball Speed Gun: Just in time for the upcoming 2025 spring training season you can get your very own mobile powered speed gun.

Toyota Moves Into Rockets: Toyoda, Chairman, said on Monday “and speaking of the sky, we’re exploring rockets, too. Because the future of mobility shouldn’t be limited to just Earth, or just one car company” 👀 wonder who he meant!

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HEADLINE NEWS 👀

Tencent Added To U.S. Defense Department’s CATL List

The U.S. Defense Department on Monday added Chinese tech giants, including Tencent Holdings and battery maker CATL, to a list of firms it claims are linked to China’s military. The updated list, required by U.S. law and known as the Section 1260H list, now names 134 companies. Among them are chipmaker Changxin Memory Technologies, Quectel Wireless, and drone maker Autel Robotics.

Shares of Tencent, which owns WeChat, dropped 8% in over the counter trading. Tencent called its inclusion a mistake, stating it is “not a military company or supplier.” CATL and Quectel echoed similar denials, asserting they have no military ties. Other listed companies, including MGI Tech and Origincell Technology, declined to comment or did not respond.

The designation comes as U.S. China tensions remain high, with Washington ramping up measures to highlight and restrict Chinese firms it deems security risks. Craig Singleton, a China expert, said the move reflects a broader effort to protect sensitive technologies, calling these firms “critical enablers of China’s military modernization.”

While the designation does not impose immediate sanctions, it tarnishes the reputations of affected companies and warns U.S. firms against doing business with them. Lawmakers have pushed for the inclusion of some firms, such as CATL, whose partnership with Ford Motor on a Michigan battery plant has drawn scrutiny.

The Pentagon also removed six companies from the list, including AI firm Beijing Megvii Technology and China Railway Construction Corporation, citing they no longer met the criteria. However, companies like DJI and Hesai Technologies, which sued over their previous designations, remain on the updated list.

Getty and Shutterstock Merge in $3.7 Billion Deal

Getty Images and Shutterstock are joining forces in a $3.7 billion merger to dominate the booming market for licensed visuals. Facing the rise of AI in content creation, the two companies aim to offer a vast library of images and videos while investing heavily in AI tools.

Getty shareholders will own 54.7% of the combined entity, which will keep the Getty name, while Shutterstock holders will control 45.3%. Getty CEO Craig Peters, who will lead the merged company, called it “the perfect time” to unite.

Shutterstock shareholders can choose stock, cash, or a mix in the deal, valuing Shutterstock shares at $28.85 each. Stocks soared on the news—Shutterstock up 19%, Getty up 25%.

The merger comes as AI reshapes the visual content world, producing rapid, high-quality renderings but raising copyright concerns. Despite this, Peters insists AI presents opportunities, not threats.

The companies project $150–$200 million in savings and expect the deal to boost earnings by year two. Regulatory approval is pending, but executives are optimistic. The new Getty will trade under ticker GETY on the NYSE.

The Washington Post Lays Off 4% Of Staff

The Washington Post, owned by Jeff Bezos the second richest man on planet earth, announced layoffs affecting roughly 4% of its workforce, cutting fewer than 100 jobs across business divisions like advertising and marketing. The newsroom, which already shrank two years ago through voluntary buyouts, remains untouched.

Most cuts hit the advertising department, with 73 positions eliminated. Chief Advertising Officer Johanna Mayer-Jones said the focus will shift to connecting clients with the subscriber base. Public relations also saw layoffs as the team pivots to promoting talent instead of publicizing journalism.

The Post lost $77 million in 2023 as digital subscriptions failed to offset declining print revenue. Publisher Will Lewis, who took over a year ago, faces mounting challenges, including a shrinking digital audience and leadership turmoil.

Recent resignations include Executive Editor Sally Buzbee and Pulitzer winning cartoonist Ann Telnaes. Political reporters Ashley Parker and Michael Scherer left for The Atlantic, while Josh Dawsey joined The Wall Street Journal.

The Post, grappling with industry pressures and internal strife, says the cuts aim to build a sustainable future. Critics see a paper in transition, struggling to find its footing. Even the wealth of its owner can’t fight the winds of change in todays media industry.

Congress Certifies Trump As 47th U.S. President

On a snowy Monday in Washington, Congress certified Donald J. Trump’s victory in the 2024 presidential election, completing a peaceful ritual of democracy that had been violently disrupted just four years earlier. The mood was calm, the process orderly, no echoes of the chaos that once shook the Capitol.

Vice President Kamala Harris, unlike her predecessor’s refusal to concede in 2020, acknowledged her defeat with dignity. Democrats, in stark contrast to Republican objections four years ago, raised no challenges as the electoral votes were tallied. The session unfolded quickly, with lawmakers reading out the results state by state, their words deliberate and procedural: “Regular in form and authentic.”

The divide in the chamber was visible only in applause. Republicans cheered for Trump’s victories, rising for a standing ovation when his majority was confirmed. Democrats clapped for Harris’s wins, applauding as her total was read, though it was clear her role as Senate president would soon end.

Harris presided over the session, leading senators into the chamber and taking her seat beside Speaker Mike Johnson, a man who had once sought to overturn the election results of 2020. Her demeanor was steady, her small talk polite. In a video posted earlier, she called her ceremonial role a “sacred obligation,” rooted in faith in the Constitution and the American people.

The Capitol itself, blanketed in snow and fortified by heightened security, bore reminders of January 6, 2021. Tall black fencing surrounded the building, and federal and local forces stood ready. This was no ordinary certification, it was a day marked as a “national special security event,” a designation underscoring the shadow cast by history.

President Biden, on the eve of the anniversary of that dark day, issued a stark warning. Writing in The Washington Post, he accused Trump and his supporters of attempting to “erase” the memory of the Capitol riot, which had left seven people dead, including three officers. Four years after urging his followers to “fight like hell,” Trump had pledged to pardon many of those convicted for their roles in the attack. Yet, Monday saw no mention of that violence from Trump’s allies, some of whom had once condemned it as “anti American.”

Harris’s presence was a poignant reminder of the stakes. Her aides called presiding over the certification one of her final and most important acts in office, a quiet, yet resolute upholding of democracy. And as lawmakers filed out into the snow, the message was clear: the process endures, even under the weight of its scars.

Live Streaming Gets Upgrade With Hulu And FuboTV

Disney has reached an agreement to combine its Hulu + Live TV streaming service with sports-focused FuboTV. Then deal resolves ongoing litigation over the formation of a new sports streaming service, Venu. Disney will hold about 70% of the new venture, with Fubo’s management team leading operations. Both Hulu + Live TV and Fubo will remain separate services but together will boast over 6.2 million subscribers in North America.

The litigation stemmed from Fubo’s lawsuit in February 2024, which aimed to block the launch of Venu, a joint venture between Disney’s ESPN, Warner Bros. Discovery, and Fox Corp. Fubo claimed the companies excluded it from carrying sports channels for the service. In August, a judge ruled to block Venu, citing concerns over reduced competition. Disney, Fox, and Warner have agreed to pay $220 million to settle the legal battle and Disney has pledged a $145 million loan to Fubo for 2026.

Fubo’s stock surged following the announcement. The merged company will become the second largest online pay TV provider after YouTube TV, catering to sports fans and cable news viewers. Together, Hulu and Fubo expect to generate over $6 billion in revenue, with projections of $7.5 billion by 2028. Additionally, Fubo will have the chance to develop a new sports and broadcast service featuring Disney networks and ESPN+.

Warren Buffett’s Berkshire Hathaway Sued By Federal Regulators

A federal regulator has filed a lawsuit against Vanderbilt Mortgage and Finance, a company owned by Warren Buffett's Berkshire Hathaway. The regulator accused it of making loans to manufactured home buyers that were unaffordable. The Consumer Financial Protection Bureau (CFPB) claims that Vanderbilt ignored clear signs that borrowers could not repay their loans, even though some were already behind on debt when the loans were granted. The bureau alleges that Vanderbilt knowingly trapped people in risky loans to close sales.

The lawsuit seeks to force Vanderbilt to change its practices, offer restitution to affected customers, and pay penalties. Vanderbilt, a subsidiary of Clayton Homes, the nation’s largest builder of manufactured homes, has been criticized for years for its sales and lending practices, especially targeting lower income buyers in rural areas. The CFPB’s research suggests that many of these loans have high interest rates and are difficult to refinance, leaving borrowers unable to keep up with payments. As a result, some face foreclosure and loss of their homes.

Vanderbilt has dismissed the lawsuit, calling it politically motivated, and pointed out that less than 1% of its loans were flagged as problematic by regulators. The CFPB has ramped up enforcement actions in recent months, with several high profile lawsuits aimed at various companies, including accusations against Rocket Homes and three major banks.

Nippon Steel And U.S. Steel Sue U.S. Government

This week the we report Nippon Steel and U.S. Steel, industrial manufacturing giants, are fighting back and are suing the U.S. Government to allow their planned merger. Last week The Grind reported Biden decided to block the merger between Nippon Steel and U.S. Steel (see Jan 3. article below).

U.S. Steel and Nippon Steel are suing the U.S. government over President Biden’s decision to block their $14.1 billion deal. The companies argue that Biden’s move violated constitutional due process and procedural rules, claiming political influence played a part in halting the deal. They are seeking to overturn the blocking order and challenge the review process by the Committee on Foreign Investment in the United States, which failed to approve the acquisition.

In a separate suit, U.S. Steel and Nippon Steel are targeting Cleveland-Cliffs, its CEO, and the head of the Steelworkers Union, accusing them of attempting to sabotage the deal. Cleveland-Cliffs, which initially tried to buy U.S. Steel before Nippon’s offer, is charged with colluding to weaken competition and prevent Nippon from supplying American-made steel.

Both lawsuits aim for an injunction against further "anticompetitive behavior" and seek significant monetary damages. Cleveland-Cliffs has yet to comment. Meanwhile, U.S. Steel’s stock rose over 4% following the news. The United Steelworkers Union supports the administration's move, stating it protected U.S. interests and the domestic steel industry.

(January 3, 2025) President Biden is set to block the $14 billion acquisition of U.S. Steel by Japan’s Nippon Steel, citing national security risks, according to sources. The decision, expected Friday, marks an extraordinary use of executive power just weeks before Biden leaves office, signaling a sharp break from America’s tradition of open foreign investment.

The move aims to protect U.S. steel production, particularly in Pennsylvania, a critical swing state. U.S. Steel’s powerful union strongly opposed the deal, fearing job losses and pension risks. The Committee on Foreign Investment in the U.S. (CFIUS) raised security concerns, but its lack of formal recommendation left the decision to Biden.

The deal faced political headwinds from the start. Vice President Kamala Harris and President elect Donald Trump both publicly opposed the sale, with Trump vowing to block it upon taking office. Biden’s rejection could strain U.S. Japan relations and discourage foreign investments in sensitive industries.

Nippon Steel, the world’s fourth largest steelmaker, pledged to keep U.S. Steel’s Pittsburgh headquarters and invest heavily in its aging mills. U.S. Steel executives warned that without the deal, job cuts and relocations might follow.

The fate of U.S. Steel, an iconic company with a dwindling workforce, remains uncertain. Efforts to preserve its American roots could impact the very workers they aim to protect.

SPORTS

NFL Playoffs Full Bracket And First Round Matchups

The NFL postseason is upon us and we have the complete playoff bracket, along with all the first-round matchups. The postseason will conclude with Super Bowl LIX on February 9, 2025.

💰️ Smart Money Matters 💰️ 

Culture Corner

Kristin Juszczyk Is Looking To Turn Football Into Fashion 🏈 

Kristin Juszczyk was just a football wife with a knack for DIY game day fashion. Then, last year, Taylor Swift wore one of her custom jackets to cheer on Travis Kelce. Almost overnight, Juszczyk’s world changed with 1.2 million Instagram followers, an NFL licensing deal, and even a gig designing a jacket for the Indy 500 winner.

Now, she’s taking her hobby big time. Partnering with Emma Grede co-founder of Skims, CEO of Good American, and a Shark Tank investor. Juszczyk is launching Off Season, a unisex outerwear brand. Backed by Fanatics, the sports merch giant, the debut line features three sleek puffer styles, a vest, a cropped jacket (Swift’s favorite) and a longer coat. Designed in five NFL team colors, 49ers, Lions, Eagles, Bills, and Chiefs, the collection is priced between $295-$495 and hits online shelves January 7.

With headquarters in Los Angeles, Off Season aims to merge fashion and sports, blurring the line between fan gear and streetwear. Grede, whose company is fittingly named Popular Culture, says the goal is to “define an entirely new category of apparel.”

Their bet is football 🏈 fan fashion is less niche and more untapped gold mine.

ECONOMY

Fed Vice Chair Steps Down Avoiding Clash With Trump

Michael Barr, the Federal Reserve’s Vice Chair for Supervision, announced Monday he will resign at the end of February, sidestepping a potential legal showdown with the incoming Trump administration. Barr, a staunch advocate for tougher banking regulations, will remain on the Fed’s board of governors, a position he holds until January 2032.

Barr’s departure comes amid sharp criticism from Trump allies over the Fed’s regulatory policies. Speculation had swirled that President elect Trump might attempt to remove Barr, triggering a possible court battle. “The risk of a dispute over the position could be a distraction from our mission,” Barr stated, adding he believes he can better serve the public as a governor.

The Fed’s leadership has previously asserted that a president lacks the legal authority to fire a Fed chair or vice chair, though such a claim has never been tested in court. Barr’s resignation does not suggest Fed Chair Jerome Powell is considering a similar move, sources say.

For now, the Fed will hold off on major regulatory decisions until Barr’s successor is appointed. Trump will have the chance to nominate a replacement from among the current governors. However, a new governor’s appointment likely won’t come until January 2026, when the next term expires.

The vice chair role, created after the 2008 financial crisis, was designed to fortify oversight of the banking system. Under Barr’s leadership, efforts to impose stricter capital requirements on major banks faltered last September, bowing to heavy industry resistance.

Barr’s exit marks the latest shift in a tumultuous era for financial regulation, setting the stage for a more industry friendly approach under the new administration.

FINANCE

Citrin Cooperman Sells To Blackstone Consortium For $2 Billion

New Mountain Capital is cashing out its stake in accounting firm Citrin Cooperman, selling to a Blackstone led investor group in a deal valuing the firm at over $2 billion. It’s the first private-equity flip of an audit firm.

Accounting firms, hungry for tech and talent funding, have become attractive to private equity for their recurring revenue and low risk. Blackstone will hold 40-45% of Citrin Cooperman, while the investor group will own over two thirds. The deal is expected to close in Q2.

Citrin Cooperman’s growth has been sharp, revenue jumped from $352 million in 2021 to $900 million in 2024, bolstered by acquisitions. New Mountain, which bought in three years ago, is pivoting to expanding Grant Thornton’s U.S. operations and nonaudit services globally.

Private equity ownership in accounting raises regulatory concerns about auditor objectivity. CPA laws require audit firms to be majority owned by accountants. Firms sidestep this via service agreements between audit and nonaudit units.

Blackstone, managing $1.1 trillion in assets, joins other private equity players like Hellman & Friedman in targeting midsize accounting firms. Critics warn the trend could blur lines in the profession, but the money keeps flowing.

POLITICS

Trump Floats Military Force Economic Threats

In a speech at Mar-a-Lago Trump says military action to control Greenland and the Panama Canal is a possibility.

In an hourlong press event at Mar-a-Lago, President elect Donald J. Trump veered between threats, grievances, and dubious claims. He refused to rule out using military or economic measures to wrest control of the Panama Canal or pressure Denmark into selling Greenland to the U.S.

Trump also repeated dire warnings about the Middle East, vowing that “all hell will break out” if Hamas does not release hostages before his Inauguration Day. He drove the point home by repeating the threat four times.

The news conference was heavy on theatrics, light on specifics, and peppered with statements unlikely to soothe diplomatic tensions.

THE GRIND FACTORY ⚙️

UNIQUELY INTERESTING

💡 Epiphany Moments

Rivian Automotive founder Robert "RJ" Scaringe, developed a passion for cars and nature from a young age. He pursued this interest academically, earning a doctorate in mechanical engineering from the Massachusetts Institute of Technology (MIT).

In 2009, Scaringe founded Mainstream Motors, which later became Rivian Automotive, with the vision of producing electric adventure vehicles. Initially, the company focused on developing a mid engine hybrid sports car, but by 2011, it shifted its focus exclusively to electric vehicles, aiming to revolutionize the automotive industry with sustainable transportation solutions.

Under Scaringe's leadership, Rivian introduced its first two models, the R1T pickup truck and the R1S SUV, both designed for offroad capabilities and equipped with advanced electric drivetrains. The company has attracted significant investments and partnerships, including a notable joint venture with Volkswagen in 2024 to co-develop hardware and software platforms.

Scaringe's commitment to innovation and sustainability has positioned Rivian as a prominent player in the electric vehicle market, contributing to the broader adoption of eco friendly transportation solutions. The future of Rivian is still up in the air but it will survive a while longer with its recent Federal loan of $6 billion.

 🍎 One Smart Apple

Ready Pac Produce achieved true success in the mid 1990s by revolutionizing the fresh food industry with its single serve salad kit. Known as the Bistro Bowl®, this innovative product transformed the way consumers accessed fresh, healthy meals on the go. Combining convenience, freshness, and portability, it met the rising demand for healthier, ready to eat options and set Ready Pac apart as a pioneer in the pre packaged produce market.

The single serve salad kits quickly became a hit, appearing in grocery stores, convenience stores, and even airline meals. This success drove rapid expansion, with Ready Pac extending its product lines to include fruit and snack packs, becoming a household name for fresh, convenient food. Strategic partnerships with major retailers like Walmart and fast food chains further cemented its market dominance.

In 2017, Ready Pac’s success culminated in its acquisition by Bonduelle, a French agricultural powerhouse, for $409 million. This marked the company’s transition from a U.S. leader to a global player in fresh produce.

Ready Pac’s breakthrough wasn’t just a product it redefined a category, proving that fresh, healthy food could also be convenient and accessible. The single serve salad kit remains a cornerstone of its legacy, reshaping consumer habits and the fresh food industry. 🍏 

 HEALTH & LONGEVITY •ᴗ•

Are You A New Years Resolution Kind Of Person? Know Your Why

When setting health goals, we often focus on the what, how, and when. But the real game changer is asking yourself why. Why do you want to lose weight, run that marathon, or sleep better? Your why is the emotional fuel that drives real, lasting change.

"Your why adds emotional weight to your goals, no pun intended. This aligns your mindset with your ambitions," says Kelly Lynch, Lifeforce Senior Health Coach. It's more than a plan, it's purpose. Health coach Sara Ramirez emphasizes that your why should connect to your core values, like living fully for your family, pursuing personal fulfillment, or boosting your quality of life.

Visualization, journaling, or meditating can help uncover this deeper purpose. Imagine the life you want. Write about moments of joy and contentment. Define what truly matters. Life coach Patrick Doyle calls your why the "engine" that keeps your goals moving, even when the journey gets tough.

Once you know your why, weave it into your daily life. Break it into actionable steps, like consistent workouts or better sleep habits. Write it down as a mantra. Share your progress with a friend or coach, like professionals or in running a business accountability fuels success. Tools like the WOOP method (Wish, Outcome, Obstacle, Plan) can reinforce focus and help overcome challenges.

Finding your why isn’t easy, but it’s worth it. It transforms goals into commitments. And with support from a trusted team or community, it can lead to profound, lasting change.

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