El interés en corto de Byrna Technologies da a los inversores una idea del grado en que los inversores apuestan por la caída de las acciones de Byrna Technologies. Los datos de interés en corto se actualizan cada dos semanas.

Byrna Technologies (NASDAQ:BYRN) Bolsa, Informe de interés en corto

Byrna Technologies

Byrna Technologies Inc is a designer, manufacturer, retailer and distributor of technological solutions for security situations that do not require the use of lethal force. The company generates its revenue from the United States, South Africa, Europe, South America, Asia and Canada.

Byrna Technologies Inc

Goldman Sachs Research predicts a strong year for global economic growth in 2025, forecasting a 2.7% increase in global GDP on an annual average basis, <a href="https://www.benzinga.com/calendars/economic" target="_blank" rel="noreferrer noopener">just above the consensus</a>.
The US is expected to lead the way, with GDP growth of 2.5%, significantly surpassing the consensus of 1.9%, Goldman Sachs Research said in a report. The consensus forecast is done by economists surveyed by Bloomberg.
However, the euro area is projected to lag behind, with growth forecasted at just 0.8%, below the consensus of 1.2%. A key factor driving these disparities is the potential for new trade policies under President-elect Donald Trump, who is predicted to impose fresh tariffs, particularly on China and imported cars.
Also Read: <a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41631465/us-gdp-rises-2-8-in-q3-but-can-the-momentum-last-what-6-top-economists-are-saying" rel="noreferrer noopener">US GDP Rises 2.8% In Q3, But Can The Momentum Last? What 6 Top Economists Are Saying</a>
Goldman Sachs Chief Economist Jan Hatzius highlights that global inflation has significantly declined over the past two years, which supports real income growth and allows central banks to normalize monetary policy.
The US Federal Reserve is expected to cut its policy rate to 3.25-3.5%, while the European Central Bank is anticipated to lower its rate to 1.75%. Despite these adjustments, inflation in the US is expected to slow to 2.4% by late 2025, although an across-the-board 10% tariff could push it higher.
The forecast for the US economy reflects continued strong productivity growth, which has outpaced other developed markets. Since 2019, US labor productivity has grown at an annualized rate of 1.7%, compared to just 0.2% in the euro area.
However, potential US trade policies could create headwinds. Tariffs are expected to subtract 0.4% from global GDP, with larger tariffs possibly having a more severe impact.
For the euro area and China, trade uncertainty could reduce GDP growth by up to 0.9% and 0.7%, respectively. Despite this, Goldman Sachs remains optimistic about global economic growth, assuming that trade tensions do not escalate further.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/trading-ideas/long-ideas/24/11/42024210/benzinga-bulls-and-bears-tesla-disney-gold-and-hedge-funds-project-bitcoin-to-hit-100k-150k" target="_blank" rel="noreferrer noopener">Benzinga Bulls And Bears: Tesla, Disney, Gold — And Hedge Funds Project Bitcoin To Hit $100K-$150K</a></li>
</ul>
Image: Shutterstock

Analyst Color

Equities

Macro Economic Events

News

Markets

General

Goldman Sachs: US To Dominate 2025 Growth With 2.5% GDP Boost, Euro Area Will Struggle

Jamie Dimon, the <a href="https://www.benzinga.com/news/24/09/40914747/jpmorgan-ceo-jamie-dimon-thinks-social-media-platforms-like-tiktok-and-facebook-are-a-total-stupid-w">outspoken CEO</a> of JPMorgan Chase (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>), isn&#8217;t pulling any punches regarding his feelings about U.S. financial regulations. In a fiery speech at a recent conference, Dimon made it clear that the banking industry is fed up with what he describes as overlapping, ill-conceived rules. He's had enough and it&#8217;s time, he says, to &#8220;fight back.&#8221;
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Jamie Dimon, CEO of JPMorgan Chase, says it&#39;s time for corporations to &quot;fight back&quot; against regulators. &quot;You know, if you&#39;re in a knife fight, you better damn well bring a knife &#8230; It&#39;s time to fight back.&quot; JPMorgan Chase made an astonishing $50 billion in profits last year. <a href="https://t.co/zWyERJ5LQm">pic.twitter.com/zWyERJ5LQm</a>
&mdash; More Perfect Union (@MorePerfectUS) <a href="https://twitter.com/MorePerfectUS/status/1851294825548763534?ref_src=twsrc%5Etfw">October 29, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Don't Miss:
<ul>
<li>With over 7.8K investors including Meta, Google, And Amazon Execs — this AI Startup's valuation has skyrocketed from $5 million to $85 million in just three years. <a href="https://www.benzinga.com/money/rad-ai-2">Be an early investor with just $1,000 for only $0.50/share today before the offer closes next week</a>!</li>
<li>The global games market is projected to generate $272B by the end of the year —<a href="https://www.benzinga.com/money/gameflip"> for $0.55/share, this VC-backed startup with a 7M+ userbase gives investors easy access to this asset market.</a></li>
</ul>
According to Dimon, regulations like capital requirements, card payments and open banking have gotten out of control. He thinks these <a href="https://www.benzinga.com/news/24/10/41586685/jamie-dimon-rips-stupid-calculations-in-proposed-banking-reforms-calls-for-regulatory-overhaul">regulations hurt companies, </a>particularly smaller ones and prevent growth rather than make the financial system safer. He stated that lower-paid people ultimately face the weight of limited access to financial services.
At the heart of his argument is a belief that banks are getting pushed around by regulators and that it&#8217;s time to push back. He compared the current situation to a knife fight, where bringing a knife is the only way to have a chance. For Dimon, that means not shying away from lawsuits and direct challenges to what he calls unfair regulations.&nbsp;
Trending: Deloitte's fastest-growing software company partners with Amazon, Walmart &amp; Target –<a href="https://www.benzinga.com/money/mode-mobile-2"> You can still get 4,000 of its pre-IPO shares for just $1,000</a>
One point of contention is the Basel III endgame – a set of proposed rules to align U.S. banking standards with the Basel Committee on Banking Supervision. While regulators argue that these changes will make the industry more resilient to economic shocks, Dimon sees things differently. To him, it's all about the details and he's not convinced that these tweaks are in the best interest of banks or their customers.
Dimon also criticized how card-issuing companies like American Express and Discover can charge more for debit card transactions, while banks face strict limits. To him, this is just another example of a regulation that's &#8220;grossly unfair.&#8221;
See Also: Maker of the $60,000 foldable home has 3 factory buildings, 600+ houses built, and big plans to solve housing —<a href="https://www.benzinga.com/money/boxabl"> you can become an investor for $0.80 per share today.</a>
Another target of Dimon&#8217;s criticism was the <a href="https://www.benzinga.com/24/10/41599526/new-consumer-financial-regulations-unlock-data-for-ai">Consumer Financial Protection Bureau</a> (CFPB). Although their recent decision to facilitate client switching between financial service providers sounds like a win for customers, to Dimon, it creates opportunities for fraud and data breaches. He's not against open banking in theory but he's ready to fight any policy that puts consumers at risk.
And while his name often gets thrown into the ring for top government roles like Treasury Secretary, Dimon has been clear that <a href="https://www.benzinga.com/government/24/11/41783392/jamie-dimon-doesnt-plans-to-join-trump-administration-affirms-commitment-to-jpmorgan">he&#8217;s not interested</a>. He's focused on leading JPMorgan Chase, which he's done for nearly two decades and fighting what he considers unnecessary and damaging regulations from the outside.
Read Next:
<ul>
<li>This Adobe-backed AI marketing startup went from a $5 to $85 million valuation working with brands like L'Oréal, Hasbro, and Sweetgreen in just three years –<a href="https://www.benzinga.com/money/rad-ai"> here's how there's a limited time opportunity to invest at $1,000 for only $0.50/share before closing date.</a></li>
<li>‘Scrolling to UBI': Deloitte's #1 fastest-growing software company allows users to earn money on their phones –<a href="https://www.benzinga.com/money/mode-mobile-2"> invest today with $1,000 for just $0.25/share</a></li>
</ul>

Startups

'If You're In A Knife Fight, You Better Damn Well Bring A Knife' – JPMorgan CEO Jamie Dimon Calls For A Stand Against Regulation

Amid the transformative rise of digital currencies and blockchain technology, one project has captured global attention for its simplicity and ingenuity: Notcoin. Conceived by Sasha Plotvinov and his team at Open Builders, what began as a straightforward clicker game has blossomed into a viral phenomenon, drawing over 35 million users on Telegram in record time.
As the creative mind behind Notcoin, a wildly popular Telegram-based clicker game, Sasha and his team have redefined how people interact with blockchain.
In an exclusive interview with Benzinga, Sasha shares his goal on how to transform Notcoin into a vibrant, community-powered gaming ecosystem which can bridge the gap between entertainment and blockchain technology.
How was your journey with Notcoin from 70,000 users to 35 million users. Share with us the success story so far.
The journey is interesting. There is a saying that it&#8217;s not the station, it&#8217;s a journey, but maybe it&#8217;s who you become in this journey, right? So, the team transforms a lot right now, and I really like to see many things that happens right now that did not happen there at the time. And, I mean, every time a person creates something big, it changes them as well. So, imagine you as a developer, you always worked with applications that would have 100K users, that&#8217;s it, and then 10 million and it moved on further.
From my perspective, I want to not only build it, but also shape the vibe. I&#8217;m still doing all my Notcoin social media myself, just for fun. It&#8217;s just some kind of thing that I just don&#8217;t want to delegate to anyone. About new games, all the new projects that we&#8217;re working with, we help docs, for example, to basically, the core idea of the mining through your age in Telegram is something that we contributed in some part of the product as well.
You need to make sure that the games are new and authentic enough, so people are not bored before, because right now, it&#8217;s hard to attract people to top tier.
Share something about the Tap to Earn and why do you think this Tap to Earn model resonates so strongly with users?
In Tap to earn model, you just tap to the something, button, or a coin or something, and then you see how more and more coins are adding to your balance. Then you can, let&#8217;s say, spend these coins to some in-app boosts and so on and so on, and then you can compete with others. Basically, it&#8217;s more like, again, it&#8217;s just a simple mechanic that allows people to mine coins. You can do this in many ways. You cannot ask to tap. You can ask to open it.
So, I mean, it&#8217;s just different ways to do the same thing. Make a distribution of coins across millions of users while they&#8217;re doing some actions for that.
Which marketing strategies were most effective in building Not&#8217;s user base? 
I think if you&#8217;re talking about real practical advice and so on, I don&#8217;t see that purchasing traffic as a way because it&#8217;s just, you know, you&#8217;ll spend too much. And usually, if you need to spend too much money to traffic, that&#8217;s the smallest thing and not really engaging with your product. It doesn&#8217;t make any sense. It&#8217;s just wasting your money. So, in my opinion, Notcoin and all other successful apps, they&#8217;re doing just some mechanic within the game or app that basically using motivation that users have.
And then the horizontal layer is just going broad and that&#8217;s where it starts. It means that you just create a system when people are motivated enough to invite other people. Basically, that&#8217;s the pure advice, how to make whatever 10, 50 million user applications.
How does Notcoin manage technical challenges with such rapid user growth?
We have learned a lot. At the beginning, it was hard. Then we figured out how to do stuff. And then in couple of months we became professionals, we started advising other apps how to do that because we already knew many, many limitations, many, many ways how to optimize it and so on. So basically, there are two difficulties. First one is just data server and database and all this stuff. So, you can work with different backend language and stack. You can work with different databases.
You can work with different approaches, how to build these things. And because of that, some spikes might occur. So, you must be smart on building this in the remaining components. Another thing is the Telegram API, building on top of Telegram, obviously. So, Telegram has its own limitations. So, for example, you cannot send more than two million-ish notifications per day. If you&#8217;re building the app that gives 50 million people, like, it&#8217;s hard to engage them without any notification experience.
You must learn how to navigate through all these limitations. And the better you adjust, in general, the better you survive.
What strategies are in place to keep users engaged over the long term?
It&#8217;s the same how games work in general. You see, like, what kind of games usually people play for a long time? I think there are two types. First one is that when you have cycles, let&#8217;s say Tetris, you have a cycle. You start, the speed is growing up, then you got some score, you start again from scratch. Fortnite, the same thing. You are deploying with 100 people, the circle gets smaller, smaller, smaller, then you repeat again, once again, if you win or lose, it doesn&#8217;t matter.
So that kind of cycles, Counterstrike, everything. I mean, this is kind of games that people playing for many, many, many years. I think that&#8217;s one of the ways. Another way is to go with long, you know, kind of building a character, building a profile. Let&#8217;s say World of Warcraft, people are playing this for many, many years. EVE Online, like EVE Online is crazy.
It&#8217;s like 16% of people that played EVE Online on the first year, 10 years ago, are still playing the game, That&#8217;s quite huge. People are so stick to this game and all the new users are coming as well.
How does Notcoin plan to differentiate itself as more projects adopt similar models?
I think the only way is basically just to be ready for a change. So, it&#8217;s true. Everything that worked in April doesn&#8217;t work right now. Everything that worked on the summer doesn&#8217;t work right now.
Your advertisement model doesn&#8217;t work anymore because everyone can dump their price. Their community is more kind of, how to say that, like not that loyal, not that cool, not that wealthy. And they always will have lower price. You cannot fight and compete with them, right? So, we must learn and see, okay, what model we can use right now. Right now, we think our advantage is to build things with soul inside. Let&#8217;s say we help projects to build games that are really touching, nice games, that it&#8217;s not just make people addictive or something.
It&#8217;s more about real emotional experience that you have for some time. Again, Pixel Battle is a great example. Another one, Lost Dogs. I don&#8217;t see a big difference between TV show, game, book, because it&#8217;s all imagined, some worlds that are kind of existing in imagination and people, they can play and they can believe in this world. You literally start believing in this in-game economy as a real one because people can trade with each other, some things, some items, some goods and so on. It&#8217;s like, it&#8217;s really the whole markets that that exists within the game.
What's next for Notcoin as it continues to grow?
Two things. First one, we learn how to do these experiences, games, all those things. We just want to replicate it. We have some teams that are working right now on different stuff. We help them, we build together. We&#8217;re making sure that it&#8217;s not just a random clicker or something. It&#8217;s just interesting. Emotionally game creates emotional connection. This is the one thing; this is a really good side because we learned a lot in our experience right now. And we can really use this expertise to launch projects to 10, 20, 50 million people. That&#8217;s no brainer.
On the other side, we understood business part as well. So, we know how to right now to make a business from this. And also from our community side, what we do right now, we&#8217;re trying to put Notcoin community holders in the center of every single thing we&#8217;ve built. Let&#8217;s say we help game to go and be published through Notcoin. And we have agreement that 20% of the stock of this game will go to the Notcoin community. 
So that&#8217;s the way how we basically attract more and more value into the ecosystem. We do what we know how to do, and we just continue to grow the ecosystem. Sometimes I think we switch our tactical plans, but the strategy is the same.

Interview

Notcoin's Plotvinov On Making Blockchain Accessible Through Gaming: 'A Game Creates Strong Emotional Connection'

Emily Fisher, founder and CEO of Leafwell, took the stage at the recent Benzinga Cannabis Capital Conference to share groundbreaking insights from her company's latest research. She emphasized the importance of following the science in shaping the future of cannabis policy and healthcare, pointing to significant financial and societal impacts.
"We published a study a couple of weeks ago that looked at the impact of medical cannabis on U.S. healthcare and found that it could save U.S. healthcare $29 billion annually," Fisher said. Her remarks highlighted the untapped potential of cannabis in reducing healthcare costs and improving patient outcomes.
<h3 class="wp-block-heading">Key Findings From New Research</h3>
Fisher also unveiled preliminary results from another study conducted by Leafwell, involving over 15,000 patients. Half of the participants were new to cannabis use, while the other half had been using cannabis for more than a year. The findings were striking:
<ul>
<li>A 48% reduction in doctor visits among long-term cannabis users</li>
<li>A 50% reduction in emergency room visits</li>
</ul>
These reductions, Fisher explained, could have cascading benefits beyond the healthcare system. "What does that mean when you trickle it down into the workforce?" she asked. "It means fewer days off. It means a reduction in absenteeism. This is speaking directly to an employer's objectives."
<h3 class="wp-block-heading">A Call To Action</h3>
Fisher's presentation highlighted the early days of cannabis' integration into mainstream healthcare but also its growing importance as a tool for employers and policymakers. She called for a science-driven approach to cannabis advocacy and policy-making, emphasizing the broader economic and social benefits that legalization and medical adoption could bring.
"This could help many, many more people than it's already helping," Fisher said, urging the audience to consider the evidence and support further research.
Cover image made with AI

Cannabis

Health Care

Cannabis Could Save $29 Billion Per Year In U.S. Healthcare Costs, Says CEO

Toyota Motor North America has weighed in on California&#8217;s ambitious new<a href="https://www.benzinga.com/startups/24/10/41198502/toyota-slows-down-ev-production-amid-industrywide-shift-heres-why-theyre-changing-course"> electric vehicle (EV)</a> mandates, calling the goals &#8220;impossible&#8221; given the slow growth of EVs in America. Currently, only 9% of U.S. car buyers choose EVs and in many states, the adoption rates of EVs are even lower.&nbsp;
Don't Miss:
<ul>
<li>The global games market is projected to generate $272B by the end of the year –<a href="https://www.benzinga.com/money/gameflip"> for $0.55/share, this VC-backed startup with a 7M+ userbase gives investors easy access to this asset market.</a></li>
<li>‘Scrolling to UBI': Deloitte's #1 fastest-growing software company allows users to earn money on their phones –<a href="https://www.benzinga.com/money/mode-mobile-2"> invest today with $1,000 for just $0.25/share</a></li>
</ul>
However, the California Air Resources Board (CARB) has set an ambitious mandate that 35% of all light-duty vehicle sales be zero-emission vehicles (ZEVs) or plug-in hybrids by 2026. The ultimate target is that by 2035, every new car sold in the state should be zero-emission.
As cited by CNBC, Toyota Chief Operating Officer Jack Hollis questioned the feasibility of such a timeline, saying, &#8220;I have not seen a forecast by anyone – government or private – that says that number is achievable.&#8221;
Toyota fears the mandate could force automakers to ignore what customers need, especially in markets where electric vehicles are less popular. Hollis suggested that pushing automakers to meet these requirements without adequate market support could limit consumer choices.
Trending: With over 7.8K investors including Meta, Google and Amazon Execs – this AI start-up's valuation has skyrocketed from $5 million to $85 million in just three years.<a href="https://www.benzinga.com/money/rad-ai"> <a href="https://www.benzinga.com/money/rad-ai-2">Be an early investor with just $1,000 for only $0.50/share today before the offer closes next week</a>!</a>
<a href="https://www.benzinga.com/personal-finance/24/08/40582239/californias-new-plan-taxpayers-might-soon-be-funding-home-loans-for-illegal-migrants-heres-what-">California </a>has traditionally taken a strict stance on emissions, setting standards more stringent than those required nationally under a federal waiver. This has led to a split market: some states follow California&#8217;s rules, while others follow national regulations.&nbsp;
Toyota, however, calls for a single national standard, arguing that a uniform rule for all states would help automakers more easily produce cars. &#8220;We would always want a 50-state rule because that way we can treat all customers, all dealers, equally,&#8221; Hollis explained.
See Also: Maker of the $60,000 foldable home has 3 factory buildings, 600+ houses built and big plans to solve housing –<a href="https://www.benzinga.com/money/boxabl"> you can become an investor for $0.80 per share today.</a>
The emissions standards debate has sparked significant discussion throughout the industry. Hollis said California's mandate could &#8220;limit consumer choice&#8221; by reducing the number of models available. Some politicians, including Democrat Elissa Slotkin, have echoed similar points, saying, "What you drive is your call, no one else's."
While Toyota has been vocal in its criticisms, it is not the only automaker to doubt the feasibility of California&#8217;s goals. Other carmakers have also expressed concerns about whether such a rapid shift is possible with today&#8217;s infrastructure and market.&nbsp;
Environmentalists counter that these requirements are necessary to address climate change and promote a cleaner automotive future. Such policies and incentives, they argue, can help bridge the EV adoption gap across the country, even in states with lower demand.
Read Next:
<ul>
<li>Deloitte's fastest-growing software company partners with Amazon, Walmart &amp; Target –<a href="https://www.benzinga.com/money/mode-mobile-2"> You can still get 4,000 of its pre-IPO shares for just $1,000</a></li>
<li>This Adobe-backed AI marketing startup went from a $5 to $85 million valuation working with brands like L'Oréal, Hasbro and Sweetgreen in just three years –<a href="https://www.benzinga.com/money/rad-ai"> here's how there's a limited time opportunity to invest at $1,000 for only $0.50/share before closing date.</a></li>
</ul>

Toyota Slams California's 'Impossible' EV Mandate, Calls For National Regulation To Protect Consumers And Keep Manufacturing Viable

The European Union has directed&nbsp;Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) to discontinue geo-blocking on its media services. The European Commission has identified several geo-blocking practices on Apple's platforms, including the App Store, Apple Arcade, <a href="https://www.benzinga.com/news/global/24/11/41897368/apple-ordered-by-eu-to-end-geo-blocking-on-app-store-itunes-and-other-apps" target="_blank" rel="noreferrer noopener">Music, iTunes Store, Books, and Podcasts</a>.
Following the 2024 U.S. Presidential election, Taylor Swift's fanbase, known as "Swifties," have reportedly started leaving Elon Musk‘s social media platform X, <a href="https://www.benzinga.com/24/11/41872302/taylor-swift-fans-abandon-elon-musks-x-for-bluesky-how-trumps-election-victory-triggered-swifties-uprising" target="_blank" rel="noreferrer noopener">formerly </a><a href="https://www.benzinga.com/24/11/41872302/taylor-swift-fans-abandon-elon-musks-x-for-bluesky-how-trumps-election-victory-triggered-swifties-uprising" target="_blank" rel="noreferrer noopener">Twitter</a><a href="https://www.benzinga.com/24/11/41872302/taylor-swift-fans-abandon-elon-musks-x-for-bluesky-how-trumps-election-victory-triggered-swifties-uprising" target="_blank" rel="noreferrer noopener">, for </a><a href="https://www.benzinga.com/24/11/41872302/taylor-swift-fans-abandon-elon-musks-x-for-bluesky-how-trumps-election-victory-triggered-swifties-uprising" target="_blank" rel="noreferrer noopener">Bluesky</a>.
Gaming
Microsoft Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) Gaming CEO&nbsp;Phil Spencer&nbsp;has confirmed the company has its sights set on a handheld gaming device under the Xbox brand. He did temper expectations, saying the device is <a target="_blank" href="https://www.benzinga.com/general/gaming/24/11/41948549/xbox-handheld-a-few-years-out-says-microsoft-gaming-ceo-hints-at-cross-platform-games-new-acquisitions" rel="noreferrer noopener">still &#8220;a few years out&#8221;&nbsp;from release</a>.
Nintendo Co., Ltd. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/NTDOY#OTC">NTDOY</a>) filed a lawsuit against a gamer for allegedly streaming pirated games <a target="_blank" href="https://www.benzinga.com/general/gaming/24/11/41887408/nintendo-sues-streamer-over-pirated-games-claims-millions-dollars-lost-revenue" rel="noreferrer noopener">before their&nbsp;official release dates</a>.
Valve is launching a limited-edition Steam Deck OLED: White Edition on Nov. 18, with global <a target="_blank" href="https://www.benzinga.com/general/gaming/24/11/41914135/valves-steam-deck-oled-gets-makeover-heres-what-you-need-to-know" rel="noreferrer noopener">availability and limited stock.</a>
Read: <a target="_blank" href="https://www.benzinga.com/general/gaming/24/11/41884190/did-rockstar-drop-gta-6-trailer-hint-fans-spot-moon-clue-pointing-to-nov-22" rel="noreferrer noopener">Did Rockstar Drop GTA 6 Trailer Hint? Fans Spot Moon Clue Pointing To Nov. 22</a>
Smartphones
Apple introduced an automatic reboot feature for idle&nbsp;iPhones in its latest&nbsp;iOS 18.1 update <a target="_blank" href="https://www.benzinga.com/media/24/11/41873261/apples-ios-18-1-update-adds-inactivity-reboot-to-lock-down-unused-iphones-heres-how-it-protects-your-privacy" rel="noreferrer noopener">to bolster device security</a>.
Apple has begun selling repair parts&nbsp;for its latest&nbsp;iPhone 16 and iPhone 16 Pro models via <a target="_blank" href="https://www.benzinga.com/tech/24/11/41870693/apple-starts-selling-iphone-16-repair-parts-heres-what-you-need-to-know-about-diy-fixes-for-your-iphone" rel="noreferrer noopener">its self-service repair store</a>.
Apple reportedly plans to make its "first foray" into the smart home IP camera market in 2026, aiming for "tens of millions" of annual shipments, <a target="_blank" href="https://www.benzinga.com/tech/24/11/41891237/apples-smart-camera-coming-in-2026-cupertino-eyeing-tens-of-millions-in-annual-shipments-says-top-supply-chain-analyst" rel="noreferrer noopener">according to&nbsp;</a><a target="_blank" href="https://www.benzinga.com/tech/24/11/41891237/apples-smart-camera-coming-in-2026-cupertino-eyeing-tens-of-millions-in-annual-shipments-says-top-supply-chain-analyst" rel="noreferrer noopener">Ming-Chi Kuo</a>.
Read: <a target="_blank" href="https://www.benzinga.com/tech/24/11/41894509/apples-next-big-bet-think-smaller-says-analyst-there-will-never-be-another-iphone" rel="noreferrer noopener">Apple&#8217;s Next Big Bet? Think Smaller, Says Analyst: &#8216;There Will Never Be Another… iPhone&#8217;</a>
Apple reportedly plans to unveil a new AI wall tablet to challenge&nbsp;Amazon.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) and&nbsp;Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) <a target="_blank" href="https://www.benzinga.com/media/24/11/41928049/apples-new-ai-wall-tablet-with-siri-and-video-calling-set-to-challenge-amazon-and-google-in-smart-home-race" rel="noreferrer noopener">in the smart home race</a>.
Apple announced a new feature for its Find My app that allows users to share the location of lost items <a target="_blank" href="https://www.benzinga.com/tech/24/11/41931360/apples-airtag-users-can-now-share-location-with-airlines-for-faster-recovery-of-lost-luggage" rel="noreferrer noopener">with third parties, including airlines</a>.
Also Read: <a target="_blank" href="https://www.benzinga.com/tech/24/11/41931521/apples-2024-mac-mini-is-a-compact-powerhouse-but-its-power-button-placement-is-not-the-most-accessible-here-are-some-workable-fixes" rel="noreferrer noopener">Apple&#8217;s 2024 Mac Mini Is A Compact Powerhouse, But Its Power Button Placement Is Not The Most Accessible: Here Are Some Workable Fixes</a>
Consumer group&nbsp;Which?&nbsp;has filed a £3 billion ($3.81 billion) legal claim against&nbsp;Apple, accusing the tech giant of breaching U.K. competition law <a href="https://www.benzinga.com/news/global/24/11/41964915/apple-faces-legal-action-over-rip-off-icloud-charges-could-pay-out-38b-to-uk-customers" target="_blank" rel="noreferrer noopener">through its&nbsp;iCloud service</a>.
Online Retail
In a move to attract holiday shoppers,&nbsp;Amazon.com rolled out early Black Friday discounts on a range of&nbsp;Apple products. These deals offer significant savings on the latest MacBook Pro, <a target="_blank" href="https://www.benzinga.com/tech/24/11/41872968/amazon-offers-early-black-friday-deals-with-up-to-350-off-on-apple-macbooks-heres-more" rel="noreferrer noopener">Mac mini, and MacBook Air models</a>.
Amazon is reportedly&nbsp;developing smart eyeglasses for its&nbsp;delivery drivers, aiming to streamline&nbsp;the final stretch of an&nbsp;<a target="_blank" href="https://www.benzinga.com/media/24/11/41891126/amazons-new-smart-eyeglasses-for-drivers-aim-to-shave-seconds-off-deliveries-but-theres-more-than-what-meets-the-eye" rel="noreferrer noopener">order's journey to a customer's&nbsp;home</a>.
Amazon is preparing to introduce its newest artificial intelligence chips in December. His strategic move aims to leverage Amazon's significant investments in semiconductors and reduce reliance on Jensen <a target="_blank" href="https://www.benzinga.com/tech/24/11/41895759/amazon-set-to-introduce-new-ai-chips-in-december-to-rival-jensen-huangs-ai-stalwart-we-want-to-be-absolutely-the-best-place-to-run-nvidia" rel="noreferrer noopener">Huang's&nbsp;</a><a target="_blank" href="https://www.benzinga.com/tech/24/11/41895759/amazon-set-to-introduce-new-ai-chips-in-december-to-rival-jensen-huangs-ai-stalwart-we-want-to-be-absolutely-the-best-place-to-run-nvidia" rel="noreferrer noopener">NVIDIA Corporation </a><a target="_blank" href="https://www.benzinga.com/tech/24/11/41895759/amazon-set-to-introduce-new-ai-chips-in-december-to-rival-jensen-huangs-ai-stalwart-we-want-to-be-absolutely-the-best-place-to-run-nvidia" rel="noreferrer noopener">(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>)</a>.
Amazon.com&nbsp;confirmed a vendor data breach exposing employee contact information, linking the company to the widening&nbsp;MOVEit&nbsp;hack. The exact number of affected employees is unclear, but a screenshot from the hacking forum shows over 2.8 million lines <a target="_blank" href="https://www.benzinga.com/media/24/11/41927913/amazon-confirms-vendor-data-breach-affecting-2-8m-employee-contacts-adds-to-growing-list-of-moveit-hack-victims" rel="noreferrer noopener">in the alleged Amazon dataset</a>.
Socia Media &amp; Technology
Meta Platforms, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>)&nbsp;is reportedly planning to introduce ads on its&nbsp;Threads&nbsp;platform in early 2025 as&nbsp;Elon Musk's X&nbsp;is&nbsp;<a target="_blank" href="https://www.benzinga.com/general/social-media/24/11/41963996/mark-zuckerbergs-meta-eyes-2025-to-introduce-ads-on-threads-as-elon-musks-x-loses-favor-with-major-brands-report" rel="noreferrer noopener">losing favor with major brands</a>.
Several prominent French media organizations, including those owned by billionaire&nbsp;Bernard Arnault, have filed a lawsuit against&nbsp;Elon Musk's&nbsp;social media platform&nbsp;X&nbsp;for allegedly using <a target="_blank" href="https://www.benzinga.com/general/social-media/24/11/41964636/elon-musk-bernard-arnault-once-discussed-potential-spacex-louis-vuitton-collab-the-french-billionaires-media-group-has-now-sued-x-over-alleged-unpaid-content-use" rel="noreferrer noopener">their content without compensation</a>.
Google Gemini&nbsp;app has been spotted as a <a target="_blank" href="https://www.benzinga.com/tech/24/11/41891904/googles-standalone-gemini-app-for-iphone-spotted-with-live-activity-what-it-could-mean-for-your-ai-experience" rel="noreferrer noopener">standalone&nbsp;app on the&nbsp;</a><a target="_blank" href="https://www.benzinga.com/tech/24/11/41891904/googles-standalone-gemini-app-for-iphone-spotted-with-live-activity-what-it-could-mean-for-your-ai-experience" rel="noreferrer noopener">App Store</a>.
Microsoft President&nbsp;Brad Smith&nbsp;emphasized China's swift technological advancements, suggesting they <a target="_blank" href="https://www.benzinga.com/news/global/24/11/41939983/microsoft-president-warns-beijings-tech-progress-is-catching-up-with-the-west-people-who-dont-go-to-china-too-often-assume-theyre-behind" rel="noreferrer noopener">are on par with Western nations</a>.
Artificial Intelligence
To counter AI-driven misinformation,&nbsp;OpenAI's ChatGPT&nbsp;rejected 250,000 deepfake image requests of candidates in the month<a target="_blank" href="https://www.benzinga.com/24/11/41870783/chatgpt-denies-250k-deepfake-requests-in-lead-up-to-election-day-aiming-to-curb-ai-driven-misinformation-in-2024-presidential-race" rel="noreferrer noopener"> before the&nbsp;2024 election</a>.
OpenAI CEO&nbsp;Sam Altman&nbsp;has expressed his appreciation for&nbsp;Tesla&nbsp;and&nbsp;SpaceX&nbsp;CEO&nbsp;Elon Musk's&nbsp;initial financial <a target="_blank" href="https://www.benzinga.com/24/11/41893707/openai-ceo-sam-altman-thanks-elon-musk-for-early-support-in-chatgpts-rise-and-shares-advice-hed-give-his-younger-self-at-stanford" rel="noreferrer noopener">backing&nbsp;in&nbsp;</a><a target="_blank" href="https://www.benzinga.com/24/11/41893707/openai-ceo-sam-altman-thanks-elon-musk-for-early-support-in-chatgpts-rise-and-shares-advice-hed-give-his-younger-self-at-stanford" rel="noreferrer noopener">ChatGPT</a><a target="_blank" href="https://www.benzinga.com/24/11/41893707/openai-ceo-sam-altman-thanks-elon-musk-for-early-support-in-chatgpts-rise-and-shares-advice-hed-give-his-younger-self-at-stanford" rel="noreferrer noopener">-parent</a>.
OpenAI co-founder&nbsp;Greg Brockman&nbsp;has announced his comeback to the AI startup<a target="_blank" href="https://www.benzinga.com/tech/24/11/41927135/greg-brockman-returns-to-work-at-chatgpts-parent-company-back-to-building-openai" rel="noreferrer noopener"> after a three-month leave</a>.
OpenAI&nbsp;reportedly plans to launch a new&nbsp;AI agent, codenamed <a target="_blank" href="https://www.benzinga.com/media/24/11/41964846/openais-operator-ai-agent-will-perform-tasks-like-coding-travel-booking-and-more-launch-expected-in-january-next-year-report" rel="noreferrer noopener">&#8220;Operator,&#8221; in January</a>.
Dario Amodei, CEO of&nbsp;Anthropic, predicts&nbsp;AGI could become&nbsp;a reality by 2026 or 2027 but warns that external <a target="_blank" href="https://www.benzinga.com/tech/24/11/41928832/anthropic-ceo-says-ai-similar-to-human-intelligence-could-be-around-the-corner-well-get-there-by-2026-or-2027" rel="noreferrer noopener">factors may delay progress</a>.
Unbabel, a startup based in Lisbon, has introduced a new AI-powered translation service called Widn.AI. The company's CEO,&nbsp;Vasco Pedro, predicts that human translators might become<a target="_blank" href="https://www.benzinga.com/tech/24/11/41932536/ai-coming-for-translator-jobs-this-ceo-says-humans-wont-be-needed-for-translation-except-most-difficult-use-cases-in-3-years" rel="noreferrer noopener"> obsolete within the next three years</a>.

Retail Sales

Tech

AAPL

AMZN

GOOG

MSFT

NTDOY

NVDA

Consumer Tech News (November 11-15): Apple Plans To Launch An AI Wall Tablet, Meta Plans To Introduce Ads On Threads & More

Frequent power outages can disrupt daily life, especially for indoor cannabis grows that rely on artificial light. Cris Roots, a <a href="http://www.benzinga.com/cannabis">420</a> influencer and cultivation expert, offers essential advice to protect your plants from prolonged blackouts and maintain their photoperiod.
The photoperiod, or the number of light hours plants are exposed to, is critical. "You have to maintain it religiously every day, no matter what," Roots explains. If a power outage happens while you're home, he suggests opening the tent to let in natural light or using a flashlight or emergency light so that the plants don't suffer completely from the interruption. Although the emergency light has a lower intensity, it helps to maintain the photoperiod, which, according to the expert, "doesn't affect the plant as much as losing the light hours."
However, if the outage occurs while you're away, Cris advises making no adjustments. "Nothing happens at all," he assures, as long as it's not a daily and continuous interruption. If power outages occur frequently and at different times, this can create issues with the plant's development.
For those who want to keep track of light timing while they're away, Cris suggests checking the timer, especially if it's an analog model, as these stop with the power outage, potentially disrupting the plants&#8217; light exposure schedule. In these cases, it&#8217;s recommended to reset the timer when power is restored, but avoid extending the light period to make up for lost hours. "By no means should you extend the light period because, for example, you lost two hours due to a power cut," emphasizes the grower.
Finally, for those with the option to move plants to an outdoor space, such as a patio or terrace, Cris advises keeping the same light exposure schedule. He notes that this option can be effective as long as the plants receive a similar daily amount of light.
Article via <a href="https://elplanteo.com/cultivo-de-cannabis-indoor-y-cortes-de-luz/">El Planteo</a>
Cover image made with AI

Protecting Indoor Cannabis Plants During Power Outages: Experts Shares Dos And Don'ts

Benzinga examined the prospects for<a href="http://www.benzinga.com/trading-ideas"> many investors&#8217; favorite stocks</a> over the last week — here&#8217;s a look at some of our top stories.
The major indexes, which had been climbing following Trump&#8217;s election victory, lost momentum this week, with the S&amp;P 500 down 2.1%, the Nasdaq dropping 3.2%, and the Dow shedding 1.2%. 
October consumer inflation matched expectations, but producer inflation exceeded forecasts, sparking concerns about the sustainability of disinflation as the year closes. 
Investor sentiment weakened further after Federal Reserve Chair Jerome Powell made unexpectedly hawkish comments, emphasizing the Fed&#8217;s cautious approach and lack of urgency to reduce interest rates. As a result, market expectations for a December rate cut have significantly decreased, leaving traders uncertain <a href="https://www.benzinga.com/etfs/24/11/42018463/trumps-post-election-rally-fades-dollar-surges-to-over-1-year-highs-powell-puts-december-interest-rate-cut-into-question-this-week-in-the-market">about the Fed's next steps.</a>
Benzinga provides daily reports on the stocks most popular with investors. Here are a few of this past week&#8217;s most bullish and bearish posts that are worth another look.
<h3 class="wp-block-heading">The Bulls</h3>
&#8220;<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/41988194/trump-plans-to-erase-ev-tax-credit-analyst-says-its-net-bullish-calls-sell-off-wrong-knee-jerk-reaction">Trump Plans To Erase EV Tax Credit: Tesla Analyst Says It&#8217;s &#8216;Net Bullish,&#8217; Calls Sell-Off &#8216;Wrong Knee-Jerk Reaction&#8217;</a>,&#8221; by <a href="https://www.benzinga.com/author/adam-eckert">Adam Eckert</a>, discusses Donald Trump&#8217;s plan to end the $7,500 EV tax credit, which initially caused a sell-off in Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) shares. However, Wedbush analyst Dan Ives sees it as a &#8220;net bullish&#8221; move for Tesla long-term, with minimal impact due to the company's strong market position.
&#8220;<a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41897397/bitcoin-to-peak-between-100k-150k-solana-to-top-600-this-cycle-say-hedge-funds-vcs">Bitcoin To Peak Between $100K-150K, Solana To Top $600 This Cycle, Say Hedge Funds, VCs</a>,&#8221; by <a href="https://www.benzinga.com/author/aniket-verma">Aniket Verma</a> reveals predictions from venture capital and hedge fund managers that Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) could peak at $150,000 and Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>) at $600 this bull cycle, reflecting tempered optimism amid recent market volatility.
&#8220;<a href="https://www.benzinga.com/general/sports/24/11/42015289/disney-q4-report-had-a-lot-to-like-analyst-calls-it-a-high-quality-profit-growth-performer">Disney Q4 Earnings Show &#8216;A Lot To Like&#8217;: Analyst Calls It &#8216;High-Quality&#8217; Profit Growth Performer</a>,&#8221; by <a href="https://www.benzinga.com/author/chris-katje">Chris Katje</a>, highlights The Walt Disney Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIS#NYSE">DIS</a>) exceeding Q4 direct-to-consumer profit estimates and unveiling multi-year guidance, prompting analysts like Guggenheim&#8217;s Michael Morris to raise price targets, citing double-digit EPS growth expected by 2026.
For additional bullish calls of the past week, check out the following:
<a href="https://www.benzinga.com/analyst-ratings/price-target/24/11/41884655/bank-of-america-predicts-positive-stock-re-rating-for-wells-fargo-after-asset-cap-removal">Bank Of America Predicts Positive Stock Re-Rating For Wells Fargo After Asset Cap Removal</a>
<a href="https://www.benzinga.com/24/11/41890600/anthony-scaramucci-optimistic-of-a-us-strategic-bitcoin-reserve-trumps-victory-accelerated-the-cycle">Anthony Scaramucci Optimistic On US Strategic Bitcoin Reserve: &#8216;Trump&#8217;s Victory Accelerated The Cycle&#8217;</a>
<a href="https://www.benzinga.com/news/earnings/24/11/41991912/sam-altman-backed-oklo-reports-q3-earnings-momentum-is-building-every-week">Sam Altman-Backed Oklo Reports Q3 Earnings: &#8216;Momentum Is Building Every Week&#8217;</a>
The Bears
&#8220;<a href="https://www.benzinga.com/24/11/41932146/spirit-airlines-shares-plunge-nearly-63-after-hours-as-it-delays-q3-results-mulls-equity-cancellation">Spirit Airlines Nears Bankruptcy, Creditors May Approve Equity &#8216;Cancellation:&#8217; Here&#8217;s What It Means For Investors As Shares Fall With A Thud</a>,&#8221; by <a href="https://www.benzinga.com/author/rishabhmishra-benzinga-com">Rishabh Mishra</a>, details Spirit Airlines Inc.&#8216;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SAVE#NYSE">SAVE</a>) 63% share plunge after delaying Q3 earnings and entering restructuring talks, potentially canceling existing equity. 
&#8220;<a href="https://www.benzinga.com/etfs/specialty-etfs/24/11/41888750/gold-etf-hit-with-1-billion-outflow-investors-dump-safe-haven-asset-after-trump-win">Gold ETF Hit With $1 Billion Outflow: Investors Dump Safe Haven Asset After Trump Win</a>,&#8221; by <a href="https://www.benzinga.com/author/piero-cingari">Piero Cingari</a>, highlights a $1 billion outflow from SPDR Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>) as investors shift from gold, citing expectations of a stronger dollar and economic growth under Donald Trump&#8217;s re-election, while Bitcoin gains popularity as &#8220;digital gold.&#8221;
&#8220;<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/41986341/what-is-plug-powers-future-analysts-warn-of-cash-crunch-and-slow-hydrogen-market-growth">What Is Plug Power&#8217;s Future? Analysts Warn Of Cash Crunch And Slow Hydrogen Market Growth</a>,&#8221; by <a href="https://www.benzinga.com/author/lekha-gupta">Lekha Gupta</a>, highlights concerns over Plug Power Inc.&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLUG#NASDAQ">PLUG</a>) high cash burn and weak Q3 results, with analysts forecasting revenue below estimates for 2024 and 2025, despite potential DOE loan support and European hydrogen project backing.
For more bearish takes, be sure to see these posts:
<a href="https://www.benzinga.com/media/24/11/41941228/att-data-breach-exposes-50-billion-records-hackers-identified-ransom-paid">AT&amp;T Data Breach Exposes 50 Billion Records: Hackers Identified, Ransom Paid</a>
<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/41880110/solar-renewables-stocks-crash-after-trump-win-should-you-buy-now-at-cheap-valuations">Solar, Renewables Stocks Crash After Trump Win: Should You Buy Now At Cheap Valuations?</a>
<a href="https://www.benzinga.com/trading-ideas/movers/24/11/41902202/trumps-china-hawks-rumored-for-top-roles-yuan-hits-3-month-low">Chinese Currency Hits 3-Month Low: Trump&#8217;s Anti-China Cabinet Appointments Rattle Investors</a>
Keep up with all the latest breaking news and trading ideas by following<a href="https://twitter.com/Benzinga"> Benzinga</a><a href="http://twitter.com/Benzinga"> on Twitter</a>.
Image created using artificial intelligence via Midjourney.

Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

Cryptocurrency

Long Ideas

Short Ideas

Trading Ideas

$BTC

$SOL

PLUG

SAVE

TSLA

Benzinga Bulls And Bears: Tesla, Disney, Gold — And Hedge Funds Project Bitcoin To Hit $100K-$150K

Billionaire entrepreneur Mark Cuban is well known for investing in cash-hungry startups on the popular television show &#8220;Shark Tank.&#8221; Interestingly enough, if you really want to make the &#8220;big bucks,&#8221; Cuban says you shouldn&#8217;t be <a href="https://www.benzinga.com/news/23/01/30510598/mark-cuban-has-4-rules-for-making-money-how-you-can-succeed-and-become-a-millionaire-1">raising capital for your business</a>. 
Instead, you should be trying to launch a business &#8220;with as little money as possible,&#8221; Cuban said at the 2023 SXSW Conference,&nbsp;<a href="https://www.cnbc.com/2023/04/09/mark-cuban-best-way-to-start-a-business-is-with-little-to-no-money.html#Echobox=1681052365">per&nbsp;</a>CNBC.
Cuban&#8217;s Advice: Although Cuban spends a lot of time investing in startups, he doesn&#8217;t recommend that entrepreneurs take on investors if they really want to make the &#8220;big bucks.&#8221;
&#8220;The more of your equity that you can retain and control, the more the upside,&#8221; Cuban said.
The thing that people forget is that when you raise money from someone, that person expects a return, he said, adding&nbsp;you are actually better off using your own personal savings and letting that money take you as far as you can.
Check This Out: <a href="https://www.benzinga.com/news/24/11/41865587/mark-cuban-planned-to-retire-by-age-35-he-says-theres-only-one-reason-he-didnt">Mark Cuban Planned To Retire By Age 35: He Says There&#8217;s Only One Reason He Didn&#8217;t</a>
There are plenty of examples of people who have sold companies for billions of dollars, but didn&#8217;t&nbsp;end up with nearly as much profit as you would think, Cuban said: &#8220;They own 2% of the company, when it was all said and done.&#8221;
Fresh out of college, Cuban founded&nbsp;software consulting business&nbsp;MicroSolutions. He sold the company for $6 million by the time he turned 32, pocketing around $2 million in profit.
A few years later, he bought a small audio network startup and turned it into Broadcast.com, which he went on to sell to Yahoo!&nbsp;<a href="https://www.benzinga.com/news/23/02/31092598/mark-cuban-celebrates-closing-5-7b-deal-with-middle-seat-flight-to-vegas-this-is-just-perfect-1">for $5.7 billion</a>.
&#8220;If you look at people with a B next to their name, it's because they own all that equity in their company,&#8221;&nbsp;Cuban said.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/startups/24/11/41869153/mark-cuban-reveals-regrettable-shark-tank-deal-that-drives-him-crazy-was-a-chocolate-covered-pretzel-company-who-offered-free-shipping">Mark Cuban Reveals Regrettable Shark Tank Deal That &#8216;Drives Him Crazy&#8217; Was A Chocolate Covered Pretzel Company Who Offered Free Shipping</a></li>
</ul>
Some elements of this story were previously reported by Benzinga and it has been updated.
Photo: courtesy of ABC.

Entrepreneurship

Mark Cuban Says Most Entrepreneurs Make The Same Critical Mistake When Starting A Business

Corvain Cooper, co-founder of the social initiative and cannabis brand 40 Tons, has a story marked by injustice and redemption.
"Trump, in his last two minutes in office, gave me clemency and I got my life back," says Cooper, who went from facing life imprisonment for allegedly transporting 40 tons of cannabis to becoming a vocal advocate for industry reform and a champion for those most affected by the war on drugs.
"I want to use this second chance for a purpose," he said during an interview at the latest <a href="https://cannabismarketspotlight.com/california/anaheim-november-12/">Benzinga Cannabis Market Spotlight</a> event in California.
<h3 class="wp-block-heading">40 Tons: A Multidimensional Effort For Justice And Support</h3>
Cooper has dedicated his new chapter to assisting individuals still caught in the justice system for cannabis-related offenses. 
"I want to give back everything that was taken from me and try to restore another person's life the way mine was restored," he says. Through 40 Tons, Cooper backs initiatives like the &#8220;<a href="https://www.benzinga.com/markets/cannabis/22/10/29343352/mission-green-petitions-president-to-release-parker-coleman-who-is-serving-60-years-for-marijuan">Free Parker Coleman</a>&#8221; campaign. Coleman served 23 years of a 60-year sentence in federal prison on a nonviolent marijuana conspiracy charge. The organization also hosts events like CannaChristmas to raise funds for people still imprisoned on cannabis-related convictions.
The efforts of 40 Tons extend beyond advocacy. The organization also runs career fairs, offering resume writing, haircuts and LinkedIn support to help participants connect with job opportunities. They actively push for public campaigns to secure pardons before the current administration changes in the hope that what happened to Cooper might happen to others.
"We pray that Biden stands on his word and gets our POWs, ‘prisoners of war,' back home with their families," Cooper says.
Read Also: <a href="https://www.benzinga.com/markets/cannabis/24/02/37084761/exclusive-40-tons-founder-says-cannabis-company-a-force-for-social-change">EXCLUSIVE: 40 Tons Founder Says Cannabis Company &#8216;A Force For Social Change&#8217;</a>
Get Benzinga&#8217;s exclusive analysis and the top news about the cannabis industry and markets daily in your inbox for free. Subscribe to our newsletter&nbsp;<a href="https://newsletteremail.benzinga.com/subscribe" target="_blank" rel="noreferrer noopener">here</a>. If you&#8217;re serious about the business, you can&#8217;t afford to miss out.
<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"> 
<div class="wp-block-embed__wrapper">
<iframe loading="lazy" title="&#039;TRUMP Gave Me MY LIFE BACK': JUSTICE IN CANNABIS and Corvain Cooper's Fight" width="500" height="281" src="https://www.youtube.com/embed/saNGgxw4wdQ?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
</div>
</figure>
<h3 class="wp-block-heading">Addressing Inequities In The Cannabis Industry</h3>
Having attended <a href="https://www.benzinga.com/markets/cannabis/23/07/33208271/what-does-it-mean-to-be-a-social-impact-cannabis-brand-40-tons-ceo-breaks-it-down">numerous</a> Benzinga events, Cooper sees these conferences as key opportunities to bridge the gap between diverse communities and investors, who are often underrepresented in such spaces and reluctant to participate.
"I want to bring people of color and folks like me and show them who to pitch to; this is where the money's at," he says. His goal is not only to secure investments but also to learn and share valuable knowledge with his community, aiming to expand the reach of the 40 Tons brand globally.
When discussing the hurdles of the <a href="https://www.benzinga.com/topic/california-cannabis">California cannabis market</a>, a major base of operations for 40 Tons, Cooper is straightforward in his critique. "It's a serious mess," he says, comparing the state&#8217;s cannabis market unfavorably to those of New York and Minnesota, which he believes are better managed, offering timely payments and higher wages. "It's hard to get off the ground when you're getting paid every 90 days," he adds.
<ul>
<li>Read Next: <a href="https://www.benzinga.com/news/events/24/11/41997980/glass-house-ceo-calls-for-unity-in-california-cannabis-market-optimistic-about-federal-reform">Glass House CEO Calls For Unity In California Cannabis Market, Optimistic About Federal Reform</a></li>
</ul>

Events

40 Tons: The Social Initiative And Brand Empowering Communities Impacted By Cannabis Prohibition

After Donald Trump won the <a href="https://www.benzinga.com/news/24/11/41768178/donald-trump-defeats-kamala-harris-to-win-2024-election">U.S. presidential election</a>, many Americans considered moving abroad. On Nov. 6, Google Trends showed a spike in searches from the United States for phrases like "moving abroad" and "foreign citizenship." Websites for expats – people who live outside their native country – have seen large jumps in traffic since the election.&nbsp;
Don't Miss:
<ul>
<li>Can you guess how many Americans successfully retire with $1,000,000 saved?<a href="https://www.benzinga.com/money/red-ventures"> The percentage may shock you</a>.</li>
<li>The average American couple has saved this much money for retirement –<a href="http://www.benzinga.com/money/smartasset"> How do you compare</a>?</li>
<li><a href="https://www.benzinga.com/money/cd-valet-growth">CD Popularity Soars: Over 50 Million Americans Embrace Safe Savings with 5–10% Annual Growth</a></li>
</ul>
A survey from Casino.org, taken before the election, found about 20% of Americans would consider moving abroad if the election results were unfavorable. However, among those surveyed, 60% said they would be "very unlikely" to move and only 2.6% said they would be "very likely" to pack up and go.&nbsp;
For Americans contemplating the leap, <a href="https://www.benzinga.com/personal-finance/24/08/40429893/thinking-of-retiring-abroad-heres-the-expense-most-americans-regret-when-they-move">moving abroad</a> can be more than a romanticized escape – it's a substantial financial commitment. Costs vary greatly depending on the country, but potential expats need to factor in key expenses and legal requirements.
Casino.org's survey reveals the countries Americans most desire to move to postelection are Canada, the United Kingdom and Japan. Here's a closer look at what it would take to move to each destination.&nbsp;
Trending: Studies show 50% of consumers think Financial Advisors cost much more than they do –<a href="https://www.benzinga.com/money/money-pickle"> to debunk this, this company provides matching for free and a complimentary first call with the matched advisor.</a>
<h2 class="wp-block-heading">Moving to Canada</h2>
With its proximity to the U.S. and cultural similarities, <a href="https://www.benzinga.com/24/11/41867032/trumps-tariff-plans-on-canadian-goods-would-inevitably-hurt-american-workers-warns-justin-trudeau">Canada</a> seems like a natural choice. There are a few primary visa options for Americans looking to move north. One is the Express Entry program, a points-based system targeting skilled workers. Applicants must qualify based on age, education, language proficiency (French) and work experience to be eligible. Application fees are around CAD 2,300 (USD 1,700) for a single applicant and CAD 4,500 (USD 3,200) for a couple.&nbsp;
Immigrants to Canada through Express Entry must also show they are financially stable and have sufficient funds in their bank accounts. For a single person, this amount is CAD 14,690 (USD 10,500).&nbsp;
Another visa option in Canada is the startup Visa Program, which requires a minimum investment and sponsorship by an approved organization. Without a visa, most Americans can stay in Canada for up to 180 days before they must leave.&nbsp;
Trending: <a href="https://www.benzinga.com/money/100k-cd">$100K Sitting In A CD Account, Should I Move Money Into The Stock Market?</a>
<h2 class="wp-block-heading">Leaving for the UK</h2>
The United Kingdom, another popular destination, has complex visa fees and regulations. U.S. citizens can stay in the UK for up to six months without a visa. Beyond that, Americans looking to move permanently must apply for a work visa if they have a job offer from a UK-based employer or try for a student visa if they are pursuing education.&nbsp;
The visa application fee for skilled workers starts at around £719 (USD 910), with additional costs for health care coverage under the Immigration Health Surcharge, which runs around £1,035 (USD 1,310) per year. Those without job offers may find the Global Talent Visa appealing, especially if they are leaders in science or the arts. The UK has no straightforward retirement visa for retirees, making it difficult for those no longer working.
Trending: Many are using this retirement income calculator to check if they&#8217;re on pace –<a href="https://www.benzinga.com/money/how-do-i-calculate-my-retirement-income-adv"> here&#8217;s a breakdown on how on what&#8217;s behind this formula.</a>
<h2 class="wp-block-heading">Migrating to Japan</h2>
<a href="https://www.benzinga.com/government/regulations/24/11/41939018/japan-increases-semiconductor-funding-as-us-trade-policies-pressure-taiwan-semiconductor">Japan</a> presents unique options and challenges for Americans considering an international move. Americans can stay in Japan for up to 90 days without a visa. Japan offers a digital nomad visa that allows visitors to work remotely and stay for six months (with no extensions), though it has an annual income requirement of JPY 10 million (around USD 64,000).&nbsp;
For those wanting a longer-term stay, a work visa is generally required and they must have a job offer from a Japanese employer to obtain one.&nbsp;
<a href="https://www.benzinga.com/money/best-online-financial-advisors">Financial planning</a> for an international move is necessary regardless of destination. Beyond visa application fees, Americans should consider moving costs, whether shipping personal belongings or buying everything anew in their new location. Living costs vary by country – countries like the UK and Japan have higher living costs than many places in the U.S. and may require a larger financial cushion to get started.&nbsp;
Read Next:
<ul>
<li><a href="https://www.benzinga.com/money/62-years-old-with-1-mil-saved">I&#8217;m 62 Years Old And Have $1.2 Million Saved. Is This Enough to Retire Stress-Free?</a></li>
<li>Can you guess how many retire with a $5,000,000 nest egg? <a href="https://www.benzinga.com/money/5mil-nest-egg-adv">The percentage may shock you</a>.</li>
</ul>

Personal Finance

After The Election, Americans Are Exploring Life Abroad – But What Are The Financial Costs?

Article via <a href="https://elplanteo.com/cannabis-medicinal-cocaina-legal-paraguay-chile-piero-liebman/">El Planteo</a>
<a href="https://elplanteo.com/viajar-con-cannabis-legal-piero-liebman/">Piero Liebman</a> has a clear goal: to prove that access to <a href="https://www.benzinga.com/cannabis">medical cannabis</a> should be a universal right, transcending borders. On his relentless mission, he has traveled across countries in Europe and Latin America, armed with proper documentation and a powerful message. Along the way, he has encountered surprising curiosities, like a permit in Paraguay that also included cocaine, and complex challenges such as the journey of Tierra del Fuego (an Argentine province) residents navigating through Chile.
These experiences not only reflect the progress in medical cannabis regulations but also highlight the contradictions and challenges that still persist in the region.
<h2 class="wp-block-heading">Paraguay And Legal Cocaine: A Surprising Authorization</h2>
One of the most unexpected moments of Piero's journey occurred in <a href="https://elplanteo.com/noticias/latinoamerica/paraguay/">Paraguay</a>. There, the National Directorate of Health Surveillance (DINAVISA) granted him a permit that, in addition to allowing the entry of 10 grams of medical cannabis, also included 2 grams of opioids and 2 grams of <a href="https://www.benzinga.com/markets/cannabis/24/02/36888515/amsterdam-mayor-advocates-cocaine-legalization-to-curb-organized-crime-people-have-a-need-for-st">cocaine</a>. According to DINAVISA, this authorization was due to a condition of "addiction." While Piero did not use the permit to transport the other substances, this case illustrates the contradictions in drug regulations across the region.
See also: <a href="https://www.benzinga.com/general/travel/24/11/41951409/traveling-the-world-with-legal-cannabis-fascinating-case-of-lawyer-who-carries-marijuana-in-his-luggage">Traveling The World With Legal Cannabis: Fascinating Case Of Lawyer Who Carries Marijuana In His Luggage</a>
"It's a curiosity. It's an example of how laws sometimes take unusual turns without truly considering patients' needs," reflects Piero. This case underscores the necessity for more specific and coherent regulatory frameworks focused on people's well-being rather than ambiguous interpretations.
<h2 class="wp-block-heading">Chile: When Borders Become Obstacles</h2>
Chile presents a different but equally significant challenge. For residents of the southernmost province in Argentina, Tierra del Fuego, crossing into mainland Argentina by land means passing through Chile. What should be a straightforward process often turns into a nightmare for those transporting medical cannabis authorized by <a href="https://elplanteo.com/como-inscribirse-en-reprocann/">Reprocann</a>, Argentina's patient registry. Chilean authorities frequently seize or confiscate these products, leaving many patients without their essential medicine.
See also: <a href="https://www.benzinga.com/news/retail-sales/24/11/41949918/landmark-case-paves-way-for-cannabis-distribution-to-marthas-vineyard-and-nantucket-islands">Landmark Case Paves Way For Cannabis Distribution To Martha&#8217;s Vineyard And Nantucket Islands</a>
"It's an absurd situation and a matter of sovereignty. These individuals are Argentine citizens but are forced to traverse a neighboring country that doesn't respect their right to health," explains Piero. This issue highlights the lack of coordination in cross-border policies and underscores the urgency of regional agreements to protect patients.
<h2 class="wp-block-heading">Next Steps: Regional Integration In Healthcare</h2>
Despite his significant progress, Piero acknowledges there is much work to be done. Cases like Chile's serve as a reminder that laws must adapt to patients' realities. "We need to work together as a region. Health should not be limited by borders," he emphasizes.
Piero continues to advocate for regional integration that harmonizes regulations and facilitates safe and legitimate access to medical treatments. His mission aims not only to solve individual problems but also to lay the groundwork for structural change in Latin America.
<h2 class="wp-block-heading">Documentation: The Key To Piero&#8217;s Advocacy</h2>
Every step of his journey is backed by official documentation. Specific permits, court rulings and authorizations are always on hand, ready to share with those interested in understanding the intricacies of his mission. "Transparency is fundamental in this work. Everything is documented, from permits to legal processes. That's what gives legitimacy to what we do," Piero says.
Piero Liebman's crusade for access to medical cannabis highlights both the advances and challenges in Latin America. From the peculiar authorization in Paraguay to the sovereignty issues with Chile, his experience underscores the urgent need to harmonize laws and ensure all patients can access their treatments without complications.
In a continent full of contrasts, Piero's story serves as a reminder that change is possible but requires perseverance, coordination, and a human-focused approach to healthcare policies.
Cover image made with AI

Latin America

Psychedelics

Medical Cannabis And Legal Cocaine: The Unusual Permit That Puts Border Laws In Check

An endorsement of Donald Trump by Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) CEO Elon Musk angered some existing owners of vehicles made by the <a href="https://www.benzinga.com/news/earnings/24/10/41501607/tesla-q3-earnings-highlights-eps-beat-revenue-miss-shares-climb-on-2025-timeline-for-lower-cost-evs">electric vehicle company</a>.
People who are embarrassed to be driving Tesla vehicles after the 2024 election are buying bumper stickers to show their anger of the Trump endorsement.
What Happened: Tesla owners may <a href="https://www.benzinga.com/news/24/07/39804113/exclusive-elon-musk-is-burning-his-own-blue-bridges-by-donating-to-trump-says-market-expert">disagree with Musk</a> many times throughout the year, whether it's his posts on X, views on cryptocurrency or his recent increased political campaigning and funding.
The endorsement of Trump in the 2024 election may have been the final straw for some Tesla owners. While some Tesla owners may decide to sell their vehicle in protest and get a different vehicle, some are likely to keep the vehicle due to Tesla's advanced technology.
Those who love their Tesla vehicles, but are mad at Musk have turned to a solution of plastering anti-Elon Musk bumper stickers on their vehicle.
Matthew Hiller of Hawaii has a sticker business <a href="https://www.etsy.com/shop/MadPufferStickers">called </a>Mad Puffer Stickers on Etsy (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ETSY#NASDAQ">ETSY</a>) that has been among the places where Tesla owners are turning after the election.
Hiller shared with <a href="https://heatmap.news/electric-vehicles/anti-elon-bumper-sticker-tesla">Heatmap </a>that the sticker business is his side hustle to a full-time job at an aquarium. As a fan of making fish stickers and other designs, Hiller used his personal experience of wanting to buy a Tesla in early 2023, but not agreeing with everything Musk stood for.
"When he bought Twitter, he started extreme censoring of information, taking verification marks off The New York Times and things like that to sow discontent, disinformation, and push his agenda. And it was ugly," Hiller said.
Hiller realized that there were likely many people who were now embarrassed to be driving their Teslas around.
"So I made the fist sticker, which said, ‘I bought this before we knew Elon was crazy.'"
Hiller printed up a small run and after a slow initial time to see some sales, the stickers went viral a couple of times. Eventually Hiller was selling five to seven stickers a day and some days he would sell 50 because of a picture going viral.
"And now, at this point, it's gone insane."
Hiller told Heatmap his sales have been "unbelievable" since the 2024 election.
After the election, Hiller said he sold between 250 and 300 in one day and said the sales have "been steady ever since."
"I can barely keep up."
You may not be a billionaire like Elon Musk, but you can uncover hidden gems in the stock market using our proprietary data and pattern recognition — <a href="https://www.benzinga.com/general/entertainment/24/10/41187322/benzingas-stock-whisper-index-5-stocks-investors-secretly-monitor-but-dont-talk-about-yet">check out five </a><a href="https://www.benzinga.com/general/space/24/11/42013739/benzingas-stock-whisper-index-5-stocks-investors-secretly-monitor-but-dont-talk-about-yet-43">stocks </a><a href="https://www.benzinga.com/general/entertainment/24/10/41187322/benzingas-stock-whisper-index-5-stocks-investors-secretly-monitor-but-dont-talk-about-yet">flying under the radar that deserve your attention.</a>
The sticker entrepreneur said he can barely keep up with the momentum and comes home from the aquarium to start packing stickers until night.
Hiller estimates that he's sold around 10,000 stickers since he started on Etsy and he is currently selling around 180 total stickers per day, a total that doesn't just include anti-Elon Musk stickers.
The most popular sticker sold by Hiller is the "I bought this before we knew Elon was crazy," which he said is by far the top seller. &nbsp;
Along with being a popular seller on Etsy, the anti-Musk bumper stickers are also among the top sellers on <a href="https://www.amazon.com/Tesla-Bumper-Sticker-Bought-Accessories/dp/B0C4KHKN4S/ref=zg_bs_g_268880011_d_sccl_3/142-4678181-8008934?psc=1">Amazon </a>with Hiller's most popular design ranked among the top five bumper stickers on the e-commerce site, sometimes hitting number one in the category.
"That's insane. People hate Elon more than they love Trump or Kamala?" Hiller added.
Read Next: 
<a href="https://www.benzinga.com/trading-ideas/24/11/41985486/if-tesla-stock-hits-all-time-highs-in-2025-will-it-be-driven-by-trump-musk-relationship-benzinga-readers-say-this">If Tesla Stock Hits All-Time Highs In 2025, Will It Be Driven By Trump-Musk Relationship? Benzinga Readers Say This</a>

Success Stories

ETSY

Tesla Owners Who Don't Like Musk Are Letting Bumper Stickers Do The Talking

<h2 class="wp-block-heading">Man Sentenced To 12 ½ Years For Bitcoin Money Laundering On The Darknet&nbsp;</h2>
Roman Sterlingov was sentenced <a href="https://www.justice.gov/opa/pr/bitcoin-fog-operator-sentenced-money-laundering-conspiracy">last Friday</a> to 12 years and six months in prison for his operation of the longest-running Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) money laundering service on the darknet. 
Sterlingov was also ordered to pay a forfeiture money judgment in the amount of $395,563,025.39 and forfeiture of seized cryptocurrencies and monetary assets valued at approximately $1.76 million. Additionally, he was ordered to forfeit his interest in the Bitcoin Fog wallet, totaling approximately 1,345 bitcoin and currently valued at more than $103 million.
Read Next: <a href="https://www.benzinga.com/trading-ideas/movers/24/11/41949068/bitcoin-could-reach-1-million-by-2037-economist-says-buy-of-a-lifetime-opportunity">Bitcoin Could Reach $1 Million By 2037, Economist Says: &#8216;Buy Of A Lifetime&#8217; Opportunity</a>
According to court documents and evidence presented at trial, from 2011 through 2021, Sterlingov was involved in operating Bitcoin Fog, the darknet's longest-running cryptocurrency "mixer." Bitcoin Fog became known as a money laundering service for criminals and processed transactions involving over 1.2 million bitcoin, valued at approximately $400 million at the time the transactions occurred.&nbsp;
"Roman Sterlingov ran the longest-running bitcoin money laundering service on the darknet, and today he paid the price," said Deputy Attorney General Lisa Monaco.&nbsp;
"In the deepest corners of the internet, he provided a home for criminals of all stripes, from drug traffickers to identity thieves, to store hundreds of millions of dollars in illicit proceeds," Monaco said.&nbsp;
<h2 class="wp-block-heading">Man Pleads Guilty To Conspiracy To Launder Cryptocurrency Scam Proceeds</h2>
Daren Li, a dual citizen of China and St. Kitts and Nevis, pleaded guilty <a href="https://www.justice.gov/opa/pr/foreign-national-pleads-guilty-laundering-millions-proceeds-cryptocurrency-investment-scams">on Tuesday </a>to one count of conspiracy to commit money laundering for his role in a scheme to launder millions of dollars in proceeds of cryptocurrency investment scams.
According to court documents, Li admitted that he conspired with others to launder funds obtained from victims through cryptocurrency scams and related fraud. Li instructed co-conspirators to open U.S. bank accounts on behalf of shell companies and would then monitor the receipt interstate and international wire transfers of victim funds.&nbsp;
Read More: <a href="https://www.benzinga.com/general/social-media/24/11/41993328/trump-media-insiders-sell-more-than-16-million-in-djt-stock">Trump Media Insiders Sell More Than $16 Million In DJT Stock</a>
Li and his co-conspirators received victim funds in financial accounts they controlled, and then monitor the conversion of victim funds to virtual currency, specifically Tether (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">USDT</a>), and the eventual distribution of the virtual currency to cryptocurrency wallets controlled by Li and his co-conspirators.
"Financial criminals and the money launderers who enable them wreak untold harm, ruining lives in the process," said United States Attorney Martin Estrada for the Central District of California.&nbsp;
"Investors should be diligent and on guard against anyone offering quick riches via new, exotic investments. A healthy dose of skepticism could prevent financial ruin down the road," Estrada said.&nbsp;
<h2 class="wp-block-heading">SEC Charges Invesco Advisers For Misleading Statements About ESG Investments</h2>
Last Friday, the Securities and Exchange Commission (SEC) charged Invesco Advisers, Inc. for making <a href="https://www.sec.gov/newsroom/press-releases/2024-179">misleading statements</a> about the percentage of company-wide assets under management that integrated environmental, social, and governance (ESG) factors in investment decisions.&nbsp;
According to the SEC's order, from 2020 to 2022, Invesco told clients and stated in marketing materials that between 70% and 94% of its parent company's assets under management were "ESG integrated." However, these percentages included a substantial amount of assets that were held in passive ETFs that did not consider ESG factors in investment decisions. The SEC's order also found that Invesco lacked any written policy defining ESG integration.
"As stated in the order, Invesco saw commercial value in claiming that a high percentage of company-wide assets were ESG integrated. But saying it doesn't make it so," said Sanjay Wadhwa, Acting Director of the SEC's Division of Enforcement.&nbsp;
"Companies should be straightforward with their clients and investors rather than seeking to capitalize on investing trends and buzzwords," Wadhwa added.&nbsp;
Invesco agreed to cease and desist from violations of the charged provisions, be censured and pay a $17.5 million civil penalty to settle the SEC's charges.&nbsp;
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/news/large-cap/24/11/42009316/jeff-bezos-ex-wife-mackenzie-scott-sells-more-amazon-shares">Jeff Bezos&#8217; Ex-Wife MacKenzie Scott Sells More Amazon Shares</a></li>
</ul>
Image: NoName_13 from Pixabay

Legal

$USDT

Financial Crime Weekly: Darknet Money Laundering, Crypto Scams, Invesco Pays $17.5M SEC Penalty

Sean Parker, the Napster co-founder and Facebook's (now called Meta Platforms) first president, has reached $3 billion in net worth, as <a href="https://www.forbes.com/profile/sean-parker/">per</a> Forbes.
A teenage hacker turned billionaire entrepreneur, Parker's career spans revolutionary tech ventures, philanthropy, and political donations.
A defining quote from him encapsulates his entrepreneurial mindset: &#8220;Your biggest challenge as an entrepreneur is not concealing your idea from others or keeping your idea secret. It's actually convincing people that you're not crazy and that you can pull it off.&#8221;
Here&#8217;s a look at his journey:
Early Days: From Hacker To Napster
Born in Herndon, Virginia, Parker's journey began with hacking. By his teenage years, he had broken into systems of universities and Fortune 500 companies, though this led to community service after an FBI investigation.&nbsp;
At 19, he <a href="https://www.benzinga.com/news/12/06/2644261/facebook-and-napster-men-to-launch-airtime">co-founded Napster with</a> Shawn Fanning in 1999, a file-sharing platform that revolutionized music consumption. Despite its eventual shutdown after lawsuits, Napster cemented Parker's reputation as a tech innovator.
See Also: <a href="https://www.benzinga.com/markets/24/11/41997920/if-you-dropped-1000-on-spotify-when-joe-rogans-show-became-an-exclusive-heres-how-much-youd-have-today">If You Dropped $1,000 On Spotify When Joe Rogan&#8217;s Show Became An Exclusive, Here&#8217;s How Much You&#8217;d Have Today</a>
Facebook And Beyond
In 2004, Parker <a href="https://www.benzinga.com/media/17/11/10754929/sean-parker-on-social-media-god-only-knows-what-its-doing-to-our-childrens-brai">joined Facebook as its first president</a> at age 24. He was pivotal in securing early investments and shaping the platform's trajectory.
Parker's early 4% stake in Facebook skyrocketed in value after the company's IPO in 2012, solidifying his financial standing.
Despite stepping down in 2005 following a controversial arrest, Parker's influence on Facebook persisted.
Beyond Facebook, Parker's investments have been instrumental in maintaining his fortune. In 2010, he invested $15 million in a 5% stake in Spotify Inc. and <a href="https://www.benzinga.com/news/24/10/41137657/spotify-ceo-daniel-ek-says-he-stays-away-from-sports-competition-with-facebook-co-founder-mark-zucke">served on its board until 2017</a>.
Earlier this year in June, he joined Stability AI, a generative AI company, as executive board chairman, signaling his continued belief in transformative technologies.
Philanthropy And Political Impact
Now 44, Parker channels his wealth into philanthropy and politics. In 2015, he launched the Parker Foundation with $600 million to support life sciences, global health, and civic engagement.
Notable initiatives include the Parker Institute for Cancer Immunotherapy and funding for allergy research at Stanford.
Politically, Parker has donated millions to candidates across party lines and played a key role in the Opportunity Zones provision of the 2017 Jobs Act to boost investment in underprivileged U.S. communities.
Lavish Lifestyle And Cultural Impact
Parker is known for his extravagant lifestyle, including properties worth over $100 million, and his Tolkien-themed wedding in 2013, which cost $4.5 million.
Despite criticism over its ecological impact, the event underscored his penchant for luxury.
Hollywood also immortalized Parker's influence. Justin Timberlake portrayed him in "The Social Network," though Parker dismissed the character as a fictional exaggeration.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/24/11/41941113/these-analysts-increase-their-forecasts-on-spotify-following-q3-earnings" target="_blank" rel="noreferrer noopener">These Analysts Increase Their Forecasts On Spotify Following Q3 Earnings</a></li>
</ul>
Disclaimer: This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.
Photo courtesy: Wikimedia

Sean Parker's Net Worth Touches $3B: From Launching Napster To Becoming Facebook Billionaire, The Story Of Teenage Hacker Turned Entrepreneur

OpenAI CEO Sam Altman has responded to Elon Musk's ongoing criticism of OpenAI&#8217;s ChatGPT's alleged left-wing bias, specifically in the context of the billionaire&#8217;s own AI chatbot, Grok.
What Happened: On Friday, Altman took to X, formerly Twitter, to refute Musk&#8217;s claims of political bias in ChatGPT.
He compared the responses of&nbsp;ChatGPT and Musk&#8217;s AI chatbot,&nbsp;Grok, to a political query, subtly challenging Musk&#8217;s accusations. &#8220;Which&nbsp;one is supposed to be&nbsp;the left-wing propaganda machine again?&#8221;&nbsp;Altman wrote.
The OpenAI CEO then underscored the neutrality of ChatGPT, stating, &#8220;We&nbsp;are proud of how consistently&nbsp;ChatGPT scores as the least biased AI in evals.&#8221;
See Also:&nbsp;<a href="https://www.benzinga.com/tech/24/11/41932289/ai-capabilities-plateauing-say-andreessen-horowitz-founders-echoing-concerns-of-openai-co-founder-ilya-sutskever?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">AI Capabilities Plateauing, Say Andreessen Horowitz Founders, Echoing Concerns Of OpenAI Co-Founder Ilya Sutskever</a>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">we are proud of how consistently chatgpt scores as the least biased ai in evals. that is an important default (and then users should have lots of choice to customize).
&mdash; Sam Altman (@sama) <a href="https://twitter.com/sama/status/1857571064882368664?ref_src=twsrc%5Etfw">November 15, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Following Altman&#8217;s post, Musk replied by saying, &#8220;Swindly Sam is at it again.&#8221;
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Swindly Sam is at it again … <a href="https://t.co/g86nws9g9h">https://t.co/g86nws9g9h</a>
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1857590183215948116?ref_src=twsrc%5Etfw">November 16, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
Why It Matters: Musk co-founded OpenAI with&nbsp;Altman and Greg Brockman in&nbsp;2015 but left&nbsp;in 2018 due to disagreement over the company&#8217;s direction.
The tech mogul has since&nbsp;filed a lawsuit against OpenAI,&nbsp;accusing it of prioritizing commercial interests over public good and&nbsp;attempting to undermine competitors like&nbsp;his own company xAI.
In September earlier this year, Musk expressed his displeasure over&nbsp;reports about <a href="https://www.benzinga.com/news/24/09/41039287/elon-musk-isnt-pleased-that-sam-altman-likely-to-get-7-stake-after-chatgpt-parents-planned-for-profi">OpenAI&#8217;s transition to a for-profit entity</a>, which could potentially give Altman a 7% stake in the company.
Despite their strained relationship, Altman acknowledged Musk&#8217;s early contribution to <a href="https://www.benzinga.com/24/11/41893707/openai-ceo-sam-altman-thanks-elon-musk-for-early-support-in-chatgpts-rise-and-shares-advice-hed-give-his-younger-self-at-stanford">OpenAI in an interview</a> earlier this month. The OpenAI CEO called Musk&#8217;s early contribution &#8220;very helpful.&#8221;
OpenAI&#8217;s valuation soared to $157 billion in October, following a <a href="https://www.benzinga.com/news/24/10/41149788/openai-valuation-soars-to-157b-in-latest-funding-round">funding round</a> that secured more than $6.5 billion. Meanwhile, Musk&#8217;s xAI fetched a $24 billion valuation in May after securing <a href="https://www.benzinga.com/news/24/05/39025708/elon-musk-cheers-funding-after-xai-secures-6b-from-sequoia-andreessen-horowitz-saudi-prince-alwaleed">$6 billion in a funding round</a>.
Check out more of Benzinga&#8217;s Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/general/social-media/24/11/42022443/ibm-disney-and-other-large-advertisers-return-to-elon-musks-x-after-a-year-long-boycott-we-super-appreciate?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">IBM, Disney And Other Large Advertisers Return To Elon Musk&#8217;s X After A Year-Long Boycott: &#8216;We Super Appreciate&#8217;</a></li>
</ul>
Disclaimer: This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.
Photos courtesy: Shutterstock

OpenAI Co-Founders, Now Rivals Sam Altman And Elon Musk Clash Over ChatGPT And xAI's Grok Chatbots Again

Jake Paul, a YouTuber-turned-boxer, defeated boxing legend Mike Tyson in the <a href="https://www.benzinga.com/news/24/11/42017511/netflix-streams-mike-tyson-vs-jake-paul-the-fight-everyones-talking-about">first live boxing event</a> hosted by Netflix Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>).
What Happened: The event took place at the AT&amp;T&nbsp;Stadium in Arlington, Texas, on&nbsp;Friday, where Paul, 27, won over 58-year-old Tyson&nbsp;in an eight-round heavyweight match&nbsp;via unanimous decision.
The match,&nbsp;sanctioned by the Texas Department&nbsp;of Licensing and Regulation, saw both fighters wearing 14-ounce gloves, a deviation from the standard 10-ounce gloves typically used in heavyweight fights.
The judges&#8217; scores were overwhelmingly in Paul&#8217;s favor, with tallies of 80-72, 79-73, and 79-73.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41963342/elizabeth-warrens-sarcastic-take-on-doges-split-leadership-gets-slammed-by-elon-musk-unlike-you-neither-of-us-are-being-paid?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elizabeth Warren&#8217;s Sarcastic Take On DOGE&#8217;s Split Leadership Gets Slammed By Elon Musk</a>
The fight was initially scheduled for July 20 but was postponed due to Tyson requiring medical attention&nbsp;for an ulcer flareup.
Tyson last competed professionally in 2005 but returned to the ring in a notable exhibition bout against Roy Jones Jr. in 2020, which concluded in a split draw.
Tensions escalated during the weigh-in when Tyson struck Paul.
Why It Matters: This event is a <a href="https://www.benzinga.com/news/24/11/42017511/netflix-streams-mike-tyson-vs-jake-paul-the-fight-everyones-talking-about">significant milestone for Netflix</a> in its endeavor to expand into live sports content, supplementing its existing portfolio of&nbsp;live comedy stand-ups, award shows,&nbsp;and special events.
The streaming giant currently has over 282 million global paid subscribers, with its ad-supported plan recently reaching 70 million subscribers.
Last month, Netflix reported strong third-quarter financial results. The <a href="https://www.benzinga.com/news/earnings/24/10/41391637/netflix-q3-earnings-revenue-beats-eps-tops-q4-guidance-projects-subscriber-boost-from-squid-game-nf">company&#8217;s revenue was $9.825 billion</a>, a 15% increase year-over-year, beating the Street consensus estimate of $9.769 billion.
This successful foray into live sports content could potentially boost Netflix&#8217;s subscriber base and revenue in the future.
Price Action: Netflix shares ended Friday's trading session down 1.57%, closing at $823.96. In after-hours trading, the stock edged up slightly to $825.50 as of this writing, according to&nbsp;<a href="https://pro.benzinga.com/" target="_blank" rel="noreferrer noopener">data from Benzinga Pro</a>.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/cannabis/24/11/41910180/exclusive-chris-christie-says-trump-will-remove-federal-restrictions-on-marijuana-find-sweet-spot-for-crypto-regulation?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Chris Christie Says Trump Will Remove Federal Restrictions On Marijuana, Find &#8216;Sweet Spot&#8217; For Crypto Regulation</a></li>
</ul>
Disclaimer: This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.
Photo courtesy: Netflix

Entertainment

Sports

NFLX

Mike Tyson Vs. Jake Paul: Netflix's Explosive Boxing Event Ends With Paul's Victory

Cryptocurrency enthusiasts are closely watching as both Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) and Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) near critical buying levels, according to renowned analyst Michael van de Poppe.
What Happened: Van de Poppe has identified that Bitcoin and Ethereum are approaching levels where purchasing on dips could prove beneficial.
Van de Poppe stressed the significance of &#8220;dip buying&#8221; for Bitcoin, which is currently trading at $89,250. He pointed out that Bitcoin is nearing its first major point of interest for traders.
Meanwhile, Ethereum, priced at $3,040, is also nearing an optimal entry point.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Dip buying, that&#39;s what we want with <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a>. Getting close to the first point of interest, and, in the meantime, <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a> is getting close towards an optimal entry as well. <a href="https://t.co/H5jEp4QHZA">pic.twitter.com/H5jEp4QHZA</a>
&mdash; Michaël van de Poppe (@CryptoMichNL) <a href="https://twitter.com/CryptoMichNL/status/1857340263305281936?ref_src=twsrc%5Etfw">November 15, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
"Dip buying, that's what we want with Bitcoin. Getting close to the first point of interest, and, in the meantime, ETH is getting close towards an optimal entry as well."
"The general plan for the upcoming period is to buy the dip."
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The general plan for the upcoming period is to: &#8211; Buy the Dip. It&#39;s as easy as it is. <a href="https://twitter.com/hashtag/Altcoins?src=hash&amp;ref_src=twsrc%5Etfw">#Altcoins</a> are likely breaking out left and right in the upcoming weeks and you&#39;d want to maximize that through buying those 20-50% dips.
&mdash; Michaël van de Poppe (@CryptoMichNL) <a href="https://twitter.com/CryptoMichNL/status/1857128111865045060?ref_src=twsrc%5Etfw">November 14, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41987257/elon-musks-hedgehog-meme-coin-shrub-outpaces-dogecoin-shiba-inu-gains-surges-3000-in-a-week?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk&#8217;s Hedgehog Meme Coin &#8216;SHRUB&#8217; Outpaces Dogecoin, Shiba Inu Gains, Surges 3,000% In A Week</a>
The analyst also highlighted opportunities in other altcoins, advising traders to watch for entry points in these digital assets in the coming weeks.
Van de Poppe&#8217;s strategy for the near future involves buying dips, with altcoins expected to see significant breakouts.
He recommended maximizing potential gains by purchasing altcoins during 20-50% dips, allowing traders to capitalize on anticipated market movements in the cryptocurrency sector.
Why It Matters: The cryptocurrency market has been experiencing fluctuations, with recent events adding complexity to the trading landscape. Earlier this week, <a href="https://www.benzinga.com/trading-ideas/movers/24/11/41998395/bitcoin-ethereum-dogecoin-take-a-u-turn-as-jerome-powells-statements-dampen-rate-cut-expectations-analytics-firm-explains-why-btc-bull-market-has-not-yet-ended">Federal Reserve Chair Jerome Powell&#8217;s remarks</a> dampened hopes for rate cuts, causing Bitcoin to dip below $88,000 after initially surpassing $91,000. Ethereum also saw a decline, dropping from $3,240 to $3,040.
Despite these setbacks, optimism remains. On November 15, Ark Invest's Cathie Wood projected Bitcoin&#8217;s price <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42019038/bitcoin-to-hit-up-to-1-5-million-by-2030-says-cathie-wood">could reach up to $1.5 million</a> by 2030, citing regulatory relief and growing institutional interest.
Additionally, <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41930918/trumps-high-inflation-regime-will-weaken-the-dollar-and-push-bitcoin-to-1m-says-arthur-hayes-get-long-and-stay-long">Arthur Hayes</a> suggested that policies under President-elect Donald Trump might weaken the dollar, boosting Bitcoin&#8217;s value.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/24/11/42022077/elon-musks-xai-seeks-6b-at-50b-valuation-to-acquire-100k-nvidia-chips-for-memphis-data-center">Elon Musk&#8217;s xAI Seeks $6B At $50B Valuation To Acquire 100K Nvidia Chips For Memphis Data Center</a></li>
</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

$ETH

Michael Van De Poppe Says Bitcoin, Ethereum And Altcoins Close To The Point Where Investors Can 'Buy The Dip'

Cathie Wood, CEO of ARK Invest, has publicly backed Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) Elon Musk's appointment to lead the <a href="https://www.benzinga.com/topic/department-of-government-efficiency">Department of Government Efficiency (DOGE)</a>.
What Happened:&nbsp;In an <a href="https://www.cnbc.com/video/2024/11/15/watch-cnbcs-full-interview-with-ark-invest-ceo-cathie-wood.html">interview</a> with CNBC on Friday, Wood said that Musk's understanding of technology and data will be key in his new role at DOGE.
DOGE, named after the cryptocurrency Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>), aims to minimize waste, eliminate unnecessary regulations, and reorganize agencies to enhance efficiency.
See Also:&nbsp;<a href="https://www.benzinga.com/24/11/42010539/whats-going-on-with-palantir-technologies-stock-today?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">What&#8217;s Going On With Palantir Technologies Stock Today?</a>
Wood stated that Musk's companies, including X, formerly Twitter, Neuralink, and SpaceX, gather vast amounts of data, putting him in a unique position to improve government operations.
&#8220;The way we're looking at this is, Elon understands we are at the threshold of a convergence among many technologies,&#8221; she stated.
Adding, &#8220;AI being at the center of it, and proprietary data is winning. So he has more proprietary data from all of these companies than I think any other CEO.&#8221;
Musk, who was appointed by President-elect Donald Trump, will spearhead the commission aimed at reducing the U.S. federal budget, to cut up to $2 trillion.
Vivek Ramaswamy, a former Republican primary candidate, will co-direct the group with Musk.
Why It Matters:&nbsp;On Thursday, the official X, formerly Twitter, account of DOGE called for high-IQ candidates willing to <a href="https://www.benzinga.com/news/24/11/41998717/elon-musk-and-vivek-ramaswamy-are-looking-for-high-iq-small-government-revolutionaries-who-are-willing-to-put-in-80-hours-at-doge">work 80+ hours a week</a> to streamline government spending and cut bureaucracy.
This criterion is similar to Musk's well-known 2022 late-night email to Twitter employees, where he encouraged them to be "extremely hardcore" and commit to "long hours at high intensity."
However, analysts have warned that Musk&#8217;s efficiency plans should not be underestimated, but it will <a href="https://www.benzinga.com/news/24/11/41961033/gene-munster-says-elon-musks-doge-efficiency-plans-should-not-be-underestimated-but-warns-itll-likely-take-many-years-to-achieve-2-trillion-in-government-spending">likely take many years</a> to achieve $2 trillion in government spending cuts.
Trump has previously stated that the work of the DOGE department is expected to be completed by July 4, 2026, at the latest.
Price Action: Dogecoin is currently priced at $0.378, reflecting a 4.14% rise in the last 24 hours. However, its trading volume has dropped by 37.06%, reaching $10.12 billion as of this writing.
Tesla shares closed Friday's trading up 3.07%, ending at $320.72. In after-hours trading, the stock saw a slight increase, reaching $320.74 at the time of writing, according to&nbsp;<a href="https://pro.benzinga.com/" target="_blank" rel="noreferrer noopener">data from Benzinga Pro</a>.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/equities/24/11/41938105/bitcoin-proxy-microstrategy-director-sells-40k-company-shares-worth-12m-as-stock-hits-all-time-high?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Bitcoin Proxy MicroStrategy Director Sells 40K Company Shares Worth $12M As Stock Hits All-Time High</a></li>
</ul>
Disclaimer: This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.
Photo courtesy: World Economic Forum

Politics

Media

$DOGE

Cathie Wood Backs Elon Musk's $2 Trillion DOGE Initiative, Says Tesla CEO's Access To 'Proprietary Data' And AI Gives Him An Edge

The United States has agreed to provide up to $6.6 billion in direct funding to Taiwan Semiconductor Manufacturing Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>) to build advanced chip facilities in the U.S.
The deal aims to enhance domestic semiconductor production and bolster national security by reducing reliance on foreign suppliers, Barron's <a target="_blank" href="https://www.barrons.com/news/us-finalizes-up-to-6-6-bn-funding-for-chip-giant-tsmc-65252814" rel="noreferrer noopener">reports</a>.
The Biden administration announced that Taiwan Semiconductor's investment will attract $65 billion in private capital to establish three state-of-the-art plants in Arizona.
Don&#8217;t Miss:
<ul>
<li>The global games market is projected to generate $272B by the end of the year —<a href="https://www.benzinga.com/money/gameflip"> for $0.55/share, this VC-backed startup with a 7M+ userbase gives investors easy access to this asset market.</a></li>
<li>This Adobe-backed AI marketing startup went from a $5 to $85 million valuation working with brands like L'Oréal, Hasbro, and Sweetgreen in just three years –<a href="https://www.benzinga.com/money/rad-ai"> here's how there's a limited time opportunity to invest at $1,000 for only $0.50/share before closing date.</a></li>
</ul>
The announcement comes just before President-elect Donald Trump assumes office. Trump had previously attacked Taiwan for allegedly undermining the U.S. chip industry and <a target="_blank" href="https://www.benzinga.com/government/regulations/24/11/41845483/taiwan-semiconductor-us-expansion-plans-unfazed-by-trump-win-report" rel="noreferrer noopener">criticized the U.S. Chips Act</a>.
The first of Taiwan Semiconductor's facilities will likely commence operations by early 2025, focusing on producing cutting-edge logic chips. These chips will power next-generation technologies, including 5G/6G smartphones, autonomous vehicles, and AI applications.
Early production at the Arizona plant reportedly matches the quality of Taiwan Semiconductor's facilities in Taiwan, showcasing <a target="_blank" href="https://www.benzinga.com/government/24/10/41545709/usa-scores-big-win-taiwan-semiconductor-arizona-plant-sees-good-production-yields" rel="noreferrer noopener">strong initial yields</a>.
Commerce Secretary Gina Raimondo told Barron's the importance of manufacturing these advanced chips domestically, emphasizing their role in AI, quantum computing, and military hardware.
The initiative aims to mitigate risks associated with overseas supply chains by producing these chips on U.S. soil, addressing a critical national security concern.
Trending: ‘Scrolling to UBI': Deloitte's #1 fastest-growing software company allows users to earn money on their phones –<a href="https://www.benzinga.com/money/mode-mobile-2"> invest today with $1,000 for just $0.25/share</a>
In addition to the direct funding, the U.S. government is extending up to $5 billion in proposed loans to support Taiwan Semiconductor's Arizona project.
The investment will likely generate approximately 6,000 direct manufacturing jobs. A senior U.S. official told Barron's that at least $1 billion of the allocated funding could be distributed to Taiwan Semiconductor this year, contingent on meeting specific milestones.
Meanwhile, Taiwan Semiconductor remains focused on consolidating its moat while diversifying its footprint beyond Taiwan as global governments dole out attractive subsidies.
The contract chipmaker has <a target="_blank" href="https://www.benzinga.com/markets/emerging-markets/24/11/41951575/taiwan-semi-boosts-advanced-chipmaking-with-record-euv-expansion-grabs-56-global-share" rel="noreferrer noopener">ramped up its</a> deployment of extreme ultraviolet (EUV) lithography systems, a vital technology in semiconductor production, even with the substantial expense involved.
Each EUV machine costs more than $100 million, making them some of the most costly assets in the chip manufacturing sector.
Industry analysts suggest that TSMC has significantly boosted its EUV capacity, increasing its share of global EUV installations from 50% in 2020 to 56% by 2023.
In Asia, Japan has also earmarked over $64.9 billion to <a target="_blank" href="https://www.benzinga.com/government/regulations/24/11/41939018/japan-increases-semiconductor-funding-as-us-trade-policies-pressure-taiwan-semiconductor" rel="noreferrer noopener">boost the semiconductor and AI</a> sectors. Taiwan Semiconductor is eyeing a second facility in Japan's Kumamoto region, considering a $13.5 billion investment after its first $8.6 billion wafer factory there.
Additionally, the company intends to establish a third advanced chip plant valued at $20 billion in Kumamoto to produce 3-nanometer chips.
Taiwan Semiconductor stock is up 86% year-to-date.
Price Actions: TSM stock is down -2.57% at $186.01 at the last check on Friday.
Also Read:
<ul>
<li>Rooftop wind turbine is taking on a market projected to reach over $900 billion by 2032 — <a href="https://www.benzinga.com/money/halcium">Here's how to be an early investor today</a>!</li>
<li>Deloitte's fastest-growing software company partners with Amazon, Walmart &amp; Target – <a href="https://www.benzinga.com/money/mode-mobile-2">Last chance to get 4,000 of its pre-IPO shares for with $1,000 for just $0.25/share before prices change next week!</a></li>
</ul>
Image via Shutterstock

Government

Regulations

Just Before Biden's Term Ends, Taiwan Semiconductor Lands $6.6 Billion in US Funding to Build Advanced Chip Plants

Byrna Technologies GAAP EPS of $0.04 beats by $0.01, revenue of $20.86M beats by $0.06M

Byrna Technologies Q3 Earnings: Aiming For Change

Byrna Technologies plunges as profit metric narrows

Byrna Technologies Inc. (BYRN) Q3 2024 Earnings Call Transcript

Roth MKM analyst Matt Koranda maintained a Buy rating on Byrna Technologies (BYRN – Research Report) today and set a price target of $17.00. The co...

Byrna Technologies (BYRN) Gets a Buy from Roth MKM

Byrna Technologies ($BYRN), a player in the less-lethal self-defense technology industry, has experienced remarkable growth and returns, with the s...

Byrna (BYRN) Expands Market Footprint, Stock Surges 336% in a Year

Companies in the Industrial Goods sector have received a lot of coverage today as analysts weigh in on Kennametal (KMT – Research Report) and Byrna...

Analysts' Opinions Are Mixed on These Industrial Goods Stocks: Kennametal (KMT) and Byrna Technologies (BYRN)

The S&P 500 has surged 22% year-to-date, underscoring a renewed wave of investor optimism that's propelling stocks and strengthening the long-term ...

TipRanks 'Perfect 10' List: 2 Top-Scoring Stocks With Great Growth Potential

In a recently published report, Bonitas Research said it was short Byrna Technologies (BYRN), which provides non-lethal launcher alternatives to fi...

Bonitas Research short Byrna Technologies, thinks stock going lower

In a report released today, Matt Koranda from Roth MKM maintained a Buy rating on Byrna Technologies (BYRN – Research Report), with a price target ...

Comments

Byrna Technologies

Interés en corto

Byrna Technologies (NASDAQ:BYRN) Bolsa, Informe de interés en corto

La gente también mira

Noticias

SOCIO/CONTRIBUIDOR

BENZINGA GLOBAL