Newsletter Oct 21, 2024
Welcome to your October 21 newsletter!

Robert Herjavec, of Shark Tank fame, has identified three types of businesses he would avoid investing in, emphasizing the challenges they present. Meanwhile, rapper 50 Cent has shared his thoughts on parenting and financial responsibility, reflecting on his strained relationship with his son.

In the Fast Lane of Business...

> Uber CEO Dara Khosrowshahi expressed interest in Tesla's plan for autonomous robotaxis, particularly following the recent unveiling of Tesla's Cybercab at the "We, Robot" event. He suggested that if Tesla chooses to work with Uber, it could be a partner, but if Tesla only uses its app, it would be a competitor. While championing Uber's partnership with Waymo, Khosrowshahi stated he believes Waymo has the edge over Tesla in the next five years. However, he acknowledged that Tesla could potentially catch up as hardware costs decrease over time, reflecting ongoing competition in the autonomous vehicle industry.

> 50 Cent's strained relationship with his son, Marquise Jackson, is rooted in disagreements over entitlement and the value of hard work. Despite providing significant financial support, 50 Cent has been disappointed by Marquise's refusal to take advantage of a lucrative business opportunity his father offered. Their rift has played out publicly, with past confrontations and Marquise's attempts to reconnect, including a controversial offer to pay for his father's time. The situation reflects broader challenges faced by wealthy parents in teaching their children the importance of earning success, often employing strategies like trust funds to instill financial responsibility.

> Patek Philippe has unveiled its first new collection in 25 years, the Cubitus line, featuring three models designed to reinterpret the "elegant sporty" style. The collection includes two steel-cased versions, one with a two-tone rose gold touch for a vintage feel, and a platinum model with advanced features like a moon phase tracker and large-format date. The watches incorporate new technologies, including an ultrathin self-winding rotor and a patented instantaneous-jump mechanism, with six patent applications filed for the innovations. The launch comes as luxury watch prices stabilize following a pandemic-driven surge in demand, and the collection also includes matching cufflinks in white-gold.

Unique Business Idea For You

The growing demand for online education offers entrepreneurs the opportunity to create and teach courses on any subject they know, regardless of location. This flexibility allows for a wide range of topics to be covered in online classes. For those without specialized expertise, teaching English as a foreign language to international students is a viable option. Online education makes it easier to reach a global audience and share valuable skills.

Side Hustle You’d Be Crazy Not to Try

Getting ordained online allows you to earn around $300 per ceremony by officiating weddings. This side hustle lets you participate in one of the most memorable moments in a couple’s life. By offering your services, you join celebrities like Conan O’Brien, Lady Gaga, Stephen Colbert, and Benedict Cumberbatch, who have all officiated weddings. It's an accessible way to start a rewarding and lucrative side gig.

Personal Finance News

> Ever wondered how much you would earn if you invested in streaming giant Netflix? The company is set to report its third-quarter earnings, with the company's stock price up 44% year-to-date, reaching $702 as of October 16. The streaming giant has benefited from its password-sharing crackdown, entry into live sports, and ad-supported tier, which has 40 million monthly active users. However, starting in 2025, Netflix will no longer provide quarterly updates on membership numbers, instead focusing on key business metrics. Since its IPO in 2002, Netflix's stock has surged by 65,420%, with a $1,000 investment then now worth $655,201. For more investment options, check here

> Robert Herjavec, known for his role on "Shark Tank," shared three types of businesses he would avoid: restaurants, retail fashion, and personal services. He cites restaurants as high-risk and time-intensive, with significant cash requirements and low returns. Retail fashion involves substantial upfront costs and inventory risks due to unpredictable trends. Personal service businesses, such as hairstyling or dog walking, are hard to scale and sell, often relying heavily on the individual running them, which limits growth potential.

> A viral Reddit post sparked debate after a woman revealed her disappointment over her fiancé proposing with a $38 ring from Temu, despite his $200,000 salary. Initially thrilled with the ring, her feelings shifted after discovering its low cost and her fiancé's evasiveness when questioned about it. The incident raised broader issues about the symbolism of engagement rings, societal expectations, and the ethics of purchasing cheap goods. The woman's frustration deepened after her fiancé accused her of materialism, leading her to question the future of their relationship.

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2024 U.S. Election: A High-Stakes Battle Between Trump And Harris

"The 2024 U.S. General Election has become a fierce contest following President Joe Biden's unexpected withdrawal, with Vice President Kamala Harris stepping in as the Democratic candidate against Donald Trump - with tight betting odds and key battleground states likely determining the outcome."

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