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- January 8, 2025
January 8, 2025
The Grind Newsletter
🌼 Wild Wednesday
Small Business News || The Business World in 5 minutes or less
🎧 YT/Pod of the day: Three Take Aways: We all know AI is about to change the way we live everyday life. As entrepreneurs we need to stay abreast of the fast moving innovations AI is bringing. Salesforce is on the cutting edge enabling systemic change to business processes. Listen in to hear about where AI is now and where it’s heading.
FURTHER DOWN… 🔻 🔻🔻
THE GRIND FACTORY 👉️ Digital Marketing Series
TECH TODAY
NIVIDIA AI Chips: NIVIDIA CEO says its chips are surpassing Moores Law.
RoboTurtle: Pool sweeps innovation is here to automate the cleaning of your pool.
Silicon Valley: The king of rainmakers Silicon Vallet VC’s rein supreme in Venture funding in 2024.
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HEADLINE NEWS 👀
Meta Aligns GOP Ties Adds UFC’s Dana White to Board
White, a close ally of President elect Donald Trump, is part of Meta’s recent efforts to align more closely with the incoming administration. Last week, the tech giant appointed a Republican connected executive to head its global policy team and donated $1 million to Trump’s inaugural fund.
Zuckerberg praised White’s entrepreneurial success in a Facebook post, calling him a visionary who turned UFC into a cultural phenomenon. The two have bonded in recent years over a shared love for mixed martial arts, a sport Zuckerberg began practicing in 2022.
The UFC boss previously attempted to organize a high profile cage match between Zuckerberg and Elon Musk in 2023, though the bout fell apart when Musk cited an injury and accused Zuckerberg of dodging rescheduling attempts.
Meta also appointed John Elkann, CEO of European holding company Exor, and Charlie Songhurst, a tech investor and AI advisor, to its board. The new additions bring the total number of Meta board members to 13. Zuckerberg highlighted the importance of these appointments as Meta pushes forward in artificial intelligence, wearable tech, and reshaping social media.
The company has recently faced criticism from Republicans over its content moderation practices, which Trump and his allies claim unfairly target conservative voices. With White’s appointment and a reshaped policy team, Meta appears to be navigating the political landscape with an eye on regulatory challenges.
In a sign of warming ties, Zuckerberg recently met with Trump at Mar-a-Lago, congratulating him on his election victory.
Wildfire Threatens Celebrity Haven Pacific Palisades
Image Credit: X
Pacific Palisades, a seaside enclave nestled between Malibu and Santa Monica, is famed for its celebrity history, stunning ocean views, and winding roads lined with multimillion dollar homes. Once envisioned as a religious commune, it’s now a neighborhood of 23,000 with a median home price of $4.6 million.
A raging wildfire Tuesday brought the area into the headlines as flames spread along the coastline, forcing thousands to evacuate. Strengthening winds hampered firefighting efforts, and smoke was visible for miles.
Actor James Woods shared video of the fire near his home, saying he was “ready to evacuate.” Steve Guttenberg urged residents to leave car keys behind for emergency crews to move vehicles blocking access roads.
Known for its walkable commercial district, Pacific Palisades is home to trendy restaurants, a farmers' market, and the Getty Villa, a museum featuring Greek and Roman antiquities. Despite its proximity to downtown Los Angeles, the Palisades has long been a quiet refuge for celebrities and those seeking nature’s beauty.
Goodyear Sells Dunlop To Sumitomo For $700 Million
Image Credit: Dunlop Tire
Goodyear Tire & Rubber announced plans Tuesday to sell its Dunlop brand to Japan’s Sumitomo Rubber Industries for about $700 million. The deal includes Dunlop trademarks and assets in Europe, North America, and Oceania for consumer, commercial, and specialty tires.
Sumitomo will pay $701 million at closing, covering the brand transfer, transition fees, and Dunlop tire inventory. Goodyear plans to use the funds to reduce debt and invest in other priorities.
Dunlop consumer tire sales hit $532 million in 2023, with commercial tire sales at $201 million. Goodyear will retain rights to Dunlop trademarks for motorcycle tires in Europe and Oceania and license back truck tire rights in Europe.
The deal, part of a strategic review, is expected to close by mid 2025, pending regulatory approval.
Offshore Tax Mitigation How Not To Tax Plan
Image Credit: Oswald Horowitz/Maverick Moves
An entrepreneur structured offshore tax strategies and after years fighting the Italian government turns fugitive. Brought down by natural forces he’ll never know if the new country he planned in international waters “midway between Seychelles and Mauritiusoff. His current floating barge home, which he kept some 30 miles off the Dubai coastline sank.
Tencent Added To U.S. Defense Department’s CATL List
Image Credit: Not Boring
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
Image Credit: Getty Images
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
Image Credit: The Washington Post
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 today’s media industry.
Live Streaming Gets Upgrade With Hulu And FuboTV
Image Credit: Fubo
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.
SPORTS
NFL Playoffs Full Bracket And First Round Matchups
Image Credit: Washington Post
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
German Manufacturing Orders Plunge in November
Germany's manufacturing orders fell 5.4% in November. The fall marks a sharp decline from October and signals ongoing weakness in the sector. Economists had predicted flat growth, but the data, released Wednesday by statistics agency Destatis, painted a grimmer picture.
The drop followed a 1.5% decline in October and was largely driven by a slowdown in large scale transport orders like aircraft, ships, and military vehicles, which surged in October but didn’t repeat in November.
Excluding large scale orders, new orders edged up 0.2%, with domestic demand rising 3.8%. However, foreign orders slumped by 10.8%, underscoring global challenges. The sector now faces additional uncertainty as U.S. tariffs proposed by the incoming administration loom on the horizon.
FINANCE
Citrin Cooperman Sells To Blackstone Consortium For $2 Billion
Image Credit: Citrin Cooperman
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’s Business and Politics Collide at Mar-a-Lago Conference
Donald J. Trump stood at the lectern at Mar-a-Lago, previewing his second inauguration. But in the ballroom, the mix of business and politics was on full display.
First, Trump introduced Hussain Sajwani, chairman of Dubai based DAMAC Properties, a longtime Trump business partner. Sajwani announced plans to invest $20 billion in U.S. data centers with federal backing. DAMAC and the Trump Organization already collaborate on golf courses in Dubai, but this expansion brings the partnership stateside. Trump promised to expedite environmental reviews for DAMAC’s projects, setting a new precedent for federal support of private investments.
Also in the room was Steve Witkoff, a real estate developer who co-founded a crypto firm with Trump and his sons. Witkoff, now Trump’s Middle East envoy, updated the audience on efforts to free Israeli hostages in Gaza. Eric Trump, meanwhile, stood quietly in the back, fresh off negotiating new Trump Tower deals in the Middle East.
The Trump family’s entanglement with foreign money didn’t end there. LIV Golf, the Saudi backed league, announced it would return to Trump National Doral this year. The tournament ensures millions in Saudi funds continue to flow into Trump properties.
Jared Kushner, Trump’s son in-law, has also been busy. His private equity firm, Affinity Partners, recently raised $1.5 billion from Middle Eastern sovereign wealth funds, adding to the $2 billion it previously secured from Saudi Arabia. Kushner insists these deals avoid conflicts of interest, claiming they were negotiated before Trump’s re-election.
Meanwhile, Trump’s other Middle Eastern partner, Saudi based Dar Al Arkan, is launching new Trump branded projects in Saudi Arabia, Dubai, and Oman. The company also announced plans to build in the U.S., adding to the growing list of Trump family ventures tied to foreign entities.
“This will be the golden age of America,” Trump said, wrapping up the event. But critics argue the golden age might be for the Trump family’s business.
Ethics groups warn the second Trump presidency will see fewer attempts to separate governance from private profit. “The handcuffs are off,” said Adav Noti of the Campaign Legal Center. Some say it’s a grift 🖐️, while others don’t see a potential for bias and believe business between a sitting President and other nations can be conducted impartially.
Trump’s spokesperson dismissed the criticism, framing the family as patriotic public servants making personal sacrifices. Still, as new deals accelerate and federal support intertwines with private ventures, the unprecedented overlap of Trump’s presidency and business interests raises questions about where governance ends and profit begins.
House Passes Bill Targeting Undocumented Immigrants Charged with Nonviolent Crimes
The House passed a bill Tuesday aimed at deporting undocumented immigrants charged with nonviolent crimes. Backed by all Republicans and 48 Democrats, the measure moves to the Senate, where bipartisan support suggests it’s likely to pass.
Named for Laken Riley, a Georgia nursing student killed by an undocumented migrant charged with shoplifting, the bill mandates detention for undocumented immigrants accused of crimes like burglary or theft. It also empowers state attorneys general to sue the federal government if released immigrants harm state residents.
“This bill is about protecting communities and restoring common sense,” said Rep. Mike Collins (R-Ga.), the bill’s sponsor.
Democrats remain divided. Many moderates, reeling from recent electoral losses, supported the legislation, while progressives warned it risks wrongful detentions. “People are innocent until proven guilty,” said Rep. Pramila Jayapal (D-Wash.).
Republicans view the bill as the first step in delivering on President elect Trump’s promise of a border crackdown. Democrats brace for more stringent measures under the new administration.
🧠 WORD/TERM OF THE DAY
Market Segmentation: Dividing a market into distinct groups of buyers from various channels with unique needs and characteristics.
THE GRIND FACTORY ⚙️
SELLING FOR SMALL BUSINESS OWNERS⚙️
Sales For Business Owners (selling made easy).
Coming this January. Stay tuned!
📚 BOOK OF THE WEEK
Image Credit: Amazon
Fascinating story of Stephen Schwarzman. In this book he lays out how he took Blackstone from a meger $400,000 to a firm managing ½ a trillion dollars.
This Book has a 4.1 ⭐️ rating on goodreads.
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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