Tuesday, October 8, 2024

Brazil lifts X ban ahead of Musk's support for Trump in 2024; PepsiCo fights back against 'snackflation.'





Newsletter Oct 9, 2024
Welcome to your October 9 newsletter!

Brazil has lifted its ban on Elon Musk's social media platform X, just as Musk announces his support for Donald Trump in the 2024 elections. Meanwhile, PepsiCo is taking action against rising snack prices, commonly referred to as 'snackflation,' and give more value to their products in terms of size and price. Also, we've got tips on possible side hustles including being your own publisher. 

In the Fast Lane of Business...

> Elon Musk publicly declared his full support for Donald Trump's 2024 presidential campaign during a two-hour chat with Tucker Carlson, streamed on Monday. Musk expressed concerns about the future of democracy if Democrats win the election, predicting that immigration policies could lead to permanent Democratic control in swing states. He shared right-wing talking points, including claims that migrants are being transported to key states to influence future elections. Musk, who is increasingly active in supporting Trump, is reportedly planning campaign stops in battleground states and promoting a voter registration initiative.

> PepsiCo is adding 20% more chips to bags of Tostitos, Ruffles, and Doritos without raising prices, as part of an effort to counter "shrinkflation" and attract shoppers back to its brands. The company is also increasing the number of bags in variety packs, offering more value to consumers. This move comes after a decline in revenue for Frito-Lay North America, with PepsiCo betting on football season gatherings to boost sales. Meanwhile, lawmakers like Sen. Elizabeth Warren are scrutinizing food companies for raising prices while reducing product sizes amid ongoing inflation concerns.

> Elon Musk's X platform has resumed operations in Brazil after a suspension following a legal standoff with the country's supreme court minister, Alexandre de Moraes. The platform was suspended in August for defying court orders to ban certain accounts and remove content violating Brazil's internet regulations. Musk initially resisted compliance, closing X's headquarters in Brazil and refusing to appoint a legal representative, but eventually relented under pressure from investors and the threat of fines. With court authorization, X is now back online, while competitors like Bluesky and Threads gained users during its suspension.

Unique Business Idea For You

Becoming an author-preneur allows writers to bypass traditional publishing companies and take full control of their creative work and profits. By self-publishing and using social media to build a fan base, authors can directly sell their books and related merchandise, such as prints or clothing. Print-on-demand services make it easy to produce high-quality books without the need for inventory, making it financially rewarding. Successful examples like poet Rupi Kaur, who self-published and built her brand online, show how this model can lead to major success.

Side Hustle You'd Be Crazy Not to Try

TikTok is a rapidly growing platform where personal trainers can showcase their expertise and build trust with a large audience through engaging, personal content. By using TikTok to share workout routines, fitness challenges, and nutrition tips, trainers can fast-track their reach and nurture client relationships more efficiently. The personal nature of TikTok helps trainers connect with their audience, offering a competitive edge in the fitness industry. Influencers like Ulissesworld demonstrate how combining fitness content with a fun, personal touch can lead to major success on the platform.

Personal Finance News

> At the World Dairy Expo, U.S. Agriculture Secretary Tom Vilsack announced a program aimed at helping small and medium-sized dairy farms increase income through innovative, sustainable practices. He emphasized that 87% of U.S. farms rely on off-farm income, and highlighted the need for farmers to generate on-farm profits through climate-smart initiatives, such as using manure for renewable energy and carbon emission reduction. The USDA is providing $11.04 million in new funding for the Dairy Business Innovation Initiatives to support dairy farmers with business development, marketing, and value-added product innovation. These initiatives are helping farms across the U.S., including the Midwest, Northeast, Southeast, and West, to access new markets and strengthen dairy supply chain resilience.

> A recent study by OffRobe analyzed the top celebrities using OnlyFans as a side hustle, focusing on their earnings, activity, and online search popularity. Iggy Azalea and Bhad Bhabie lead the list with substantial monthly and total earnings, showing their successful monetization on the platform. Even inactive accounts, like Cardi B and Bella Thorne, continue to generate interest, reflecting the ongoing appeal of celebrities on OnlyFans. The findings highlight how digital platforms are reshaping celebrity income, offering new opportunities for financial gain outside traditional entertainment industries.

> Wealthy individuals often share common habits, such as being frugal, maximizing their money, and minimizing taxes. They utilize Roth IRAs for tax-free growth, with strategies like the backdoor Roth IRA enabling high earners to benefit from them despite income limits. Many wealthy people also take full advantage of 401(k) plans, benefiting from employer matches and tax perks. Lastly, they invest in brokerage accounts, particularly in low-cost index funds, allowing them to grow wealth for early retirement or other financial goals.

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