| | | | Welcome to your October 11 newsletter! Elon Musk is stepping up to help Hurricane Helene survivors by offering free satellite internet service through his Starlink network, though the offer comes with certain conditions. As recovery efforts continue, access to reliable communication is critical, and Musk's initiative aims to fill that gap. Meanwhile, with Halloween around the corner, a lucrative side hustle opportunity could earn you up to $10,000 a day, making this spooky season not only fun but financially rewarding for those who seize the moment. | | | | In the Fast Lane of Business... > Elon Musk's Starlink offered 30 days of free satellite internet service to victims of Hurricane Helene, but survivors still had to pay $400 for the necessary hardware. While Musk claimed terminals would operate without payment in affected areas, an investigation revealed the initial setup fees remained, causing frustration among potential users. After the 30-day period, survivors would automatically transition to a $120 monthly subscription, further adding to concerns about the service's affordability. Criticism grew as many felt the offer was a "bait-and-switch," especially given the power outages and logistical challenges in the disaster zones. > The source code for ChatGPT is stored in a secure, offline location where lawyers for The New York Times can inspect it as part of a copyright lawsuit. OpenAI and Microsoft are being sued for using over 10 million articles, including copyrighted stories from The New York Times, to train their AI models without compensation. The case hinges on whether the models' use of this data qualifies as "fair use" and could set a precedent for how generative AI companies handle copyrighted material. The outcome could reshape business models for authors, journalists, and publishers as they seek compensation for their content used in AI training. > AMD has launched the Instinct MI325X AI chip to compete directly with Nvidia's data center GPUs, aiming to capture market share in the rapidly growing AI chip sector. The new chip is set to begin production by the end of 2024 and targets the $500 billion AI market projected by 2028. AMD's challenge lies in Nvidia's dominance, especially since Nvidia's chips use their proprietary CUDA software, which is standard among AI developers, though AMD is improving its ROCm software to encourage switching. AMD also announced a new line of EPYC 5th Gen CPUs, designed to complement AI workloads and boost its presence in data centers. | | | |
| | Unique Business Idea For You Heather Torres, founder of Porch Pumpkins, turned her passion for pumpkins into a successful business that can earn up to $10,000 a day during the fall season. She started the porch-scaping company in 2020 after noticing friends spending on professional decorations, and her business has grown rapidly, designing over 1,000 displays in 2023 across Dallas-Fort Worth and Houston. Porch Pumpkins offers various display packages and services like cleanup, with most clients opting for removal services after Thanksgiving. Torres credits her success to a deep understanding of pumpkin care, her talented team, and viral word-of-mouth promotion, with plans to expand to Austin by 2026. | | | |
 | | | Side Hustle You'd Be Crazy Not to Try Mobile car washing and detailing is a low-cost side hustle perfect for those who enjoy working outdoors. You can provide this service at customers' homes or partner with businesses to wash fleet vehicles or offer employee car wash perks. Startup costs mainly include cleaning tools, a sturdy hose, nozzle, and a vehicle. Popular platforms for booking and payments are MobileWash, Spiffy, or you can manage your own system using Square. | | | | Personal Finance News > Cryptocurrency prices rose Monday following a strong September jobs report, with Bitcoin climbing to $63,000. Bitcoin had dropped earlier in October but saw renewed interest, with spot Bitcoin ETFs recording $25.6 million in inflows on Friday after earlier outflows. Ethereum also rebounded to $2,470 after dropping below $2,350 at the start of October, though it remains significantly below its 2024 high. Both Bitcoin and Ethereum have shown growth in 2023, with Bitcoin up about 50% and Ethereum up 8% for the year. To start your crypto journey, click here. > A September 2024 Vanguard study of over 54,000 workers revealed that job switchers received a median 10% pay increase but saw a 0.7% drop in their retirement savings rates, mainly due to reduced contributions to employer-sponsored 401(k) plans. Workers with automatic 401(k) enrollment fared better than those with voluntary enrollment but still experienced a decline in savings due to low default rates. Over a career with multiple job changes, resetting to a default 3% savings rate could lead to a loss of up to $300,000 in retirement savings by age 65. Vanguard suggests employers can mitigate this issue by raising default savings rates or establishing custom rates based on employee age or tenure. > Herbal Essences is facing backlash from UK shoppers after reducing the size of its popular hair care product bottles from 400ml to 275ml, while keeping prices the same, sparking accusations of shrinkflation. Consumers have expressed frustration over the smaller packaging not being immediately noticeable, feeling deceived by the brand's lack of transparency. Shrinkflation, a practice where companies reduce product sizes while maintaining or increasing prices, has become more common across industries amid rising costs, leading to widespread dissatisfaction. In response, other countries like France have introduced legislation to require labels on downsized products, promoting transparency and maintaining consumer trust. | | | |
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