TECH TODAY

Apple a bakers dozen years later. It’s been 13 years since Apple released an update to its Final Cut Pro 11. If you depend on slicing and dicing video for film or content projects, you will be pleased to know, Apples Final Cut Pro 11 update has been released, and, AND it’s AI enabled.

“Operator” the reported coed-named new software by OpenAi is close to launching, as reported by Bloomberg, will have the ability to actually take control and perform actions on an individuals computer.

OpenAi AI Agent “Operator” when launched will enter the market competing with Antropic’s Computer Use, and a Google AI Agent reported to be on the horizon.

Conflix a medical SaaS AI company working to keep health care companies on the right side of compliance and reduce practice risks announced a $4.2 million seed round Co-led by Lerer Hippeau (the fund founded by BuzzFeed’s former chairman Keneth Lerer) and Origin Ventures, with Mark VC, Springtime Ventures, and pre-seed investors Cretiv Capital participating.

HEADLINE NEWS 👀

Stripe Launches AI Agent

The credit card processor launched a new AI Agent opening the possibility for small business to get out in front of AI LLMs and streamline operations and compete more effectively with competitors. Stripe serves 2 million businesses. Approximately 76% are small businesses.

AI is everywhere we turn today. It’s in the news, on social media, in ads, and now literally in hand on our phones. Why is AI absorbing so much mind 🧠 space? Well, it’s because it’s a powerful resource that can streamline business processes to improve services or product delivery while controlling costs.

@gregisenberg had a great 𝕏 post breaking down how this new Stripe AI Agent can help small business:

AI Support Agent

• Understand refund requests in any language

• Review transaction history for context

• Process refunds if warranted

• Provide an explanation to the customer

AI Billing Agent

• Research customer use patterns

• Automatically adjust prices according to uses

• Send smart payment reminders

• Handle subscription changes

• Negotiate payment plans

AI is still in its infancy, and it’s here to stay. Soon AI Agents will become common use LLMs but for the forward thinking entrepreneur that looks to gain an edge on the competition early stage in LLMs opens up opportunity for small business entrepreneurs to incorporate them to create a competitive advantage.

Labubu Adult Comfort Toys

Labubu is a furry plush toy exclusively designed for adults. The Labubu instructions remind people the toy is recommended for people over the age of 15.

Popular across Asia, and now heading West, the plush toy has spickey hair and serrated teeth. Some users have described the toys as “ugly” but for them only later to become attached to the toy.

The toy’s popularity is in part due to its affordability, and the emotional comfort it brings. Labubu is made by Chinese toy company POP Mart.

No More 💋 For Kate Spade, Coach, And Versace

The lovey dovey has flown the coop in luxury. Luxury goods makers Capri and Tapestry agreed to cancel their planned merger.

The FTC filed a lawsuit to prevent the $8.5 billion merger between luxury goods makers Capri, owner of Michael Kors, Versace, and Jimmy Choo, and Tapestry, owners of Kate Spade and Coach.

The suit was filed over concerns the merger would reduce competition and potential higher prices for luxury items at the register for consumers.

Amazon Rolls Out New Discount Concept

Amazon is not a company that rolls over when competition heats up. On the contrary Amazon rolled out its Amazon Haul a new service to challenge discount online retailers Shein and Temu.

Unlike the 1-2 day prime delivery Americans have become accustomed to the new mobile app only discount service which will offer mass produced discounted items that ship directly from China.

Doge Takes On New Meaning

Elon Musk not long ago promoted Doge coin, a Crypto currency, as a meme. Now, in a flip of the proverbial Doge coin President elect Trump has announced Musk will Co-lead along with Vivek Ramaswamy, a newly created office called Department Of Government Efficiency.

In their new roles Musk and Ramaswamy will be tasked with reducing the size of the $6.5 Trillion billion Federal spending budget and decreasing government inefficiencies.

Trump And Tech The Second Act

Prior to former President Trump’s first term, the equivalent of the Magnificent Seven tech companies were invited to meet with him in his Manhattan office. During this meeting he told them “I’m here to help you folks do well”.

That’s not exactly how it worked out.

Apple, Amazon, X (then Twitter) Google, and Meta (then Facebook) were assaulted by regulators. Twitter was accused of censorship, laughable post 2024 election. The regulators filed and pursued antitrust charges against both Google and Meta.

Memorable was congressional leaders grilling the tech elite. Only for a Republican led coalition to wag a finger for public display.

Now, as President elect, Trump is about to start a second term and leaders in tech don’t know what to expect.

An unofficial announcement announced Elon Musk will join Trump in an unknown role. Musk is one of tech’s most venerable proponents. (In an announcement just prior to publication President elect Trump announced Musk will Co-lead with Vivek Ramaswami the Department of Government Efficiency (Doge).

The role is said to include streamlining government and deregulating industry. Exactly which industries and how this stream will work is yet to be seen.

There is speculation by some on the left a second Trump administration may elect to reverse the CHIPS and Science Act, a bipartisan bill signed into law by President Biden. If legislation is enacted to reverse this act the tech industry could be put under pressure to find ways to keep up with the demand AI is creating for microprocessor chips.

The consumer ultimately will end up absorbing the cost through higher prices at the register. Let us hope a second Trump term is friendlier to tech than his first term.

FEDEX And UPS Slug It Out Over Small Business

FedEx and UPS are courting small business as shipping volume is expected to decline this year after peaking during the Covid19 pandemic.

With Thanksgiving falling later in November black Friday is pushed back and shipping carriers will have to scramble to ship more parcels during the peak shipping period in less time.

With shippers already under immense pressure ground parcel shipping rates have declined 2.5% during last quarter, according to AFS Logistics, a third party logistics company.

This comes at a precarious time for both carriers as they have independently announced expected revenue reductions. Additionally, the carriers laid off tens of thousands of workers over the last several years.

An unlikely competitor isn’t making the situation any easier. The U.S. postal service in recent years has inserted itself as a reputable ground shipping alternative during the peak holiday period. USPS customers have confirmed they are shipping product to customers through the USPS system because of a lower cost to ship.

ECONOMY

Producer Price Index

The Bureau Of Labor Statistics reported today the Producer Price Index (PPI) came in up 0.20% for the month of October. The PPI measures the selling prices domestic producers receive for their output; products and services.

Economists and analysts closely watch the PPI for signs of inflation. A rising PPI can be an early sign of inflation pressures in the economy. While quizzically PPI on the rise can also indicate economic growth. The measurement of rising producer prices can result from higher demand for products and services.

Economists use the PPI to forecast producer price changes that precede consumer price changes.

Federal Reserve Lowers Interest Rates

The Fed slashed interest rates by 0.25% for the second time this year on November 8, 2024. The cut is the latest sign the Fed believes inflation is nearing its key target rate of 2%.

A new Trump financial policy muddies the waters if any of the policy items discussed on the campaign trail get implement into policy. This brings to light the “economy stands on the brink of change” comments.

Jerome Powell, Chairman of the Federal Reserve, on Thursday commented while addressing the press Fed officials would watch the economic data closely before the final decision is made on a final rate cut at its December 2024 meeting.

Consumer Price Index

The U.S. Bureau of Labor Statistics released the October Consumer Price Index (CPI) November 13, 2024 up 2.6% verses the previous months 2.4%. The CPI number bested investors expectations CPI would come in at a higher number.

The Grind reported earlier this month consumer spending remains strong. With the recent strength of the jobs report, strong consumer spending, and today’s better than expected CPI the market is setting expectations the FED will lower interest rates at their December meeting by 0.25%.

SOCIAL MEDIA

Bluesky Left Of X

Bluesky a decentralized social media platform raked in nearly 700,000 new users over the Veterans weekend.

The new users are migrating to the platform after an abrupt partisan direction taking place on Elon Musk’s X.com (formerly Twitter) social media platform. X users saw a candid uptick in partisan conservative politics across the platform prior to the election. Many dedicated long term users of X who do not align with the onslaught are electing to migrate away from the platform.

SHORT, SHORT BUSINESS STORIES

The undeterred, a necessarily liability. (Blinders don’t show risk, risk observation is a success necessity).

THE GRIND FACTORY ⚙️

High Stakes Sales

On selling: I know a thing or two about selling. 30+ years selling into the corporate C-Suite and successful entrepreneurs has taught me sales is hard, but when done programmatically the results are well worth the effort. Here’s a five step guide to successful sales.

1. Know your shit. Know it better than anyone on your team or in your company. Let this drive massive conviction in your product and in yourself.

2. Know your customer. The in vogue thing to say is to know their avatar. Who is your ideal customer? Spend the time and effort to figure out who this is then go find them.

3. Like Don Vito, make them an offer they cannot refuse. Create an offer the customer cannot say no to.

4. Sell in phases e.g., intro packet, intro meeting entice them with a meal, coffee, sports tickets) then bam, hit them with an offer they cannot say no to.

5. If you don’t remember anything I’ve said (I don’t blame you) remember this one point. People don’t buy products they buy the salesperson. Make a connection, reinforce that connection, and then continue to reinforce.

Your customer is first and foremost a human. Interact with them human to human and you’ll be one your way to make new friends and more sales.

REAL ESTATE CORNER

Blackstone To Take Retail Opportunity Investments Corp. (Nasdaq: ROIC) Private For $4 Billion

The companies announced last week a definative agreement was reached wherein “Blackstone Real Estate Partners X will acquire all outstanding common shares of ROIC for $17.50 per share in an all-cash transaction valued at approximately $4 bilion, including outstanding debt.

ROIC’s portfolio consists of 93 high-quality, grocery anchored retail properties totlaing 10.5 million square feet concentrated in Los Angeles, Seattle, San Francisco, and Portland”.

The purchase price represents a 34% premium over the last trading day prior to the announcement on July 29, 2024.

Jacob Werner, Co-Head of Americas Acquisition at Blackstone Real Estate, said, “This transaction reflects our strong conviction in necessity based, grocery anchored shopping centers in densely populated geographies. The sector is experiencing accelerating fundamentals, benefiting from nearly a decade of virtual no new construction, while demand for brick and mortar grocery staores, restarants, fitness and other lifestyle retailers remains healthy. We are pleased to be acquiring ROIC, which owns a unique collection of high quality assets in some of the most desirable West Coast markets.”

The transaction is scheduled to close first quarter 2025.

UNIQUELY INTERESTING

💡 Epiphany Moments

Innovation Never Gets Old: Cornelius Vanderbilt, one of America’s most venerable entrepreneurs, built his fortune on the back of proactive promotion of innovation and efficiency.

Vanderbilt, known to all as “The Commodore”, was persistent in finding ways to improve operations, whether in shipping or railroads, to stay ahead of the competition. These improvements were often small but combined to help him crush his competition.

In shipping he focused on making ships faster and more efficient, ensuring they were always loaded fully with cargo and would travel as fast as possible to maximize profits. Likewise, the Commodore conquered the railroad business in similar fashion.

The same approach to innovating operations for efficiencies can be applied to todays businesses. Small innovations of efficiency consistently can change your business

 🍎 One Smart Apple

Fred Smith, Founder of FedEx unable to make payroll in the early days of FedEx reportedly saved the company by taking the company’s total remaining cash of $5,000 late on a late Friday afternoon and boarded a plane bound for Las Vegas. As the story goes he returned Monday morning with enough cash to make payroll.

Despite early financial struggles Smith had a pivotal moment when he realized the company would be a success. The moment came when he saw the potential of his hub and spoke system the empowered efficient overnight delivery.

Smith’s vision for FedEx was gained as a charter pilot and during his time at Yale. He could foresee the need for fast reliable delivery services in a computer driven world.

 HEALTH & LONGEVITY

Dr Huberman On Longevity

Dr Andrew Huberman is a well recognized authority on health, fitness, and longevity. Here’s Dr Huberman’s top six hacks to achieve longevity:

1. Get outside and in the sun every morning.

   Daylight is the most powerful stimulus for awakeness.

2. Avoid light at night.

   Negatively affects dopamine and sleep

3. Practice intermittent fasting.

   Contributes to longer lifespan.

4. Tryout a supplement to achieve better sleep

5. Consume appropriate levels of Omega 3s

6. Limit (or eliminate entirely) alcohol.

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