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☆ See inside a Boeing 727 salvaged from an aircraft 'graveyard' and converted into a lavish Airbnb that starts at $438 a night
▼ + stars: | 2024-04-26 | by ( Taylor Rains | ) www.businessinsider.com time to read: +2 min

An entrepreneur has converted a 56-year-old Boeing 727 into an Airbnb in Bristol, England. Named PYTCHAir, the jet was bought without wings, engines, or a tail — but kept its lavish interior. The Airbnb can host at least four people and is about $438 a night with a minimum two-night stay. The latest converted airplane is a 56-year-old Boeing 727 in Bristol, England, that's been repurposed as an Airbnb and is now owned by British-Australian businessman Johnny Palmer. The Airbnb requires a minimum two-night stay and starts at 350 British pounds — or about $438 — a night, so at least $876 for a two-night stay.

Persons: —, that's, Johnny Palmer, Palmer Organizations: Boeing, Service, British Locations: Bristol, England, Australian

☆ Don’t launch a small business before asking yourself these 3 questions, says CEO
▼ + stars: | 2024-04-25 | by ( Ashton Jackson | ) www.cnbc.com time to read: +3 min

Having an idea that you believe could become a lucrative business can bring a rush of excitement. Forvr Mood products can be found in Sephora stores nationwide, and sell direct-to-consumer via their website. Forvr Mood sold $700,000 worth of products within the first four hours of its launch, the company told Women's Wear Daily. "And when we started Forvr Mood, we started with candles and I was like, if [customers] are not here for it, I will be burning these candles by myself. Still, just because you're passionate about something doesn't mean it's a good business idea in and of itself.

Persons: Jackie Aina, Aina, fiancé, Denis Asamoah, Women's, DeAndre Brown, We're, Mark Cuban's Organizations: Amazon Insights

☆ 9 ways rich real estate owners save big on taxes from putting mansions in trusts to donating rental property income
▼ + stars: | 2024-04-25 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +9 min

The richest 0.1% of Americans own $1.8 trillion in real estate, according to the Federal Reserve. Currently, individuals and married couples can gift or bequeath $13.61 million and $27.22 million, respectively, before a 40% federal estate tax kicks in. Here are nine little-known techniques that wealthy real estate owners use to pay less to Uncle Sam:Qualified personal residence trusts, better known as "QPRTs," effectively freeze the value of a real estate property for tax purposes. With an FLP, an individual — often a parent or two parents — pools their business assets, commonly real estate or stocks. The heirs don't own the trust assets, but rather have lifetime rights to the trust's income and real estate.

Persons: Uncle Sam, Trump, Sam Walton, Wrigley, Jeff Bezos, Rich, Ron Wyden, PPLI, Jackie O, I've, Edward Renn, remarries Organizations: Federal, Business, Walmart, Biden, Blackstone, Lombard, Taxpayers, IRS Locations: Trump, Florida, Wyoming, Plenty

☆ The pre-owned luxury watch market is thriving
▼ + stars: | 2024-04-24 | by ( Fawnia Soo Hoo | ) edition.cnn.com time to read: +11 min

Granted, the pandemic-induced second hand luxury watch boom peaked back in March 2022, but the market is still going strong, and price levels remain higher than pre-Covid times. “(They’re) a crucial demographic for the growth and evolution of the pre-owned and vintage luxury watch industry,” added Paul Altieri, founder & CEO of multi-brand online luxury marketplace Bob’s Watches. Don't be shy," said Dimepiece's Brynn Wallner of new buyers' potential nerves when it comes to luxury watch stores. How can you tell if a luxury pre-owned watch is the real deal? “Luxury watches of this caliber will go from one generation to the next to the next to the next,” he explained.

☆ Jamie Dimon fears for the future of the free world and US debt
▼ + stars: | 2024-04-24 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +6 min

New York CNN —JPMorgan Chase CEO Jamie Dimon is worried about the future of the free world. “The geopolitical situation is probably the most complicated and dangerous since World War II,” Dimon said during a talk at the Economic Club of New York on Tuesday. “The world order that formed after WWII, Bretton Woods, WTO [the World Trade Organization], and the UN is kind of being challenged,” he said. This is not the first time Dimon has warned that the world is on the brink of a massive realignment. The country’s national debt is now over $34.5 trillion, or about $103,000 for every American.

Persons: Jamie Dimon, ” Dimon, Dimon, Bretton, ”, That’s, “, Jerome Powell, Niall Ferguson, Chris Isidore, Tesla, Elon Musk, Jeanne Sahadi, Joe Biden, “ won’t Organizations: CNN Business, Bell, New York CNN, JPMorgan, Economic, of New, World Trade Organization, UN, AAA, NATO, Atlantic Treaty Organization, Federal, Federal Trade Commission, FTC, of Commerce Locations: New York, of New York, Ukraine, NATO, Israel, US, China, Bretton Woods, WTO, Russia

☆ Meet the typical new entrepreneur: A young woman living in the South who's doing it as a side hustle
▼ + stars: | 2024-04-24 | by ( Jacob Zinkula | Juliana Kaplan | ) www.businessinsider.com time to read: +8 min

The newest entrepreneurs are both young and old and looking to grow their wealth through their businesses. The share of new Hispanic entrepreneurs rose from 8% in 2022 to 13% in 2023, Gusto found. Many new entrepreneurs are open to using AI tools and hiring remote workers, per the Gusto survey. The share of entrepreneurs who started a business while juggling another gig rose from 27% in 2022 to 44% in 2023. The Babson report found that most US entrepreneurs, 71%, were motivated by the prospect of boosting their wealth through their businesses.

Persons: They're, —, Ewing Marion, Luke Pardue, Babson, Entrepreneurship isn't Organizations: Service, Bureau of Labor Statistics, Babson College, Midwest Women, Pew Research Center, Ewing Marion Kauffman Foundation, Bureau, Kauffman Foundation, Entrepreneurs, Business Administration, Entrepreneurship Locations: Midwest, New Hampshire, Minnesota, Montana, Northeast, West

☆ Former CEO of buzzy tech startup hit with prison time for fraud
▼ + stars: | 2024-04-23 | by ( Grace Eliza Goodwin | ) www.businessinsider.com time to read: +3 min

The founder of startup HeadSpin just got an 18-month prison sentence for wire and securities fraud. Prosecutors said his sentence is a warning to other "fake it til you make it" Silicon Valley execs. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementThe founder of a buzzy Silicon Valley startup was sentenced to prison over a multimillion-dollar fraud scheme — and prosecutors want it to be a lesson to other "fake it til you make it" entrepreneurs. Manish Lachwani, the former CEO of app testing company HeadSpin, was sentenced on Friday to 18 months in prison, plus three years supervised release, for wire fraud and securities fraud, the Department of Justice announced.

Persons: —, Manish Lachwani, Lachwani, Lachwani's, Ismail J, Ramsey, HeadSpin Organizations: Prosecutors, Service, Department of Justice, DOJ, Lachwani, Business Locations: Silicon Valley

☆ FTC bans employers from using noncompete clauses
▼ + stars: | 2024-04-23 | by ( Jeanne Sahadi | ) edition.cnn.com time to read: +5 min

New York CNN —The Federal Trade Commission on Tuesday voted to ban for-profit US employers from making employees sign agreements with noncompete clauses. And – with one exception – it makes currently existing noncompete agreements unenforceable after the rule’s effective date, which is set at 120 days from the rule’s publication in the Federal Register. The rule, however, does allow currently existing noncompete agreements for senior executives to remain in force. The ban would apply nationwide, overriding state laws regarding noncompete agreements. In December of last year, New York State Governor Kathleen Hochul vetoed a bill passed by the state legislature to completely ban noncompete agreements in that state.

Persons: Joe Biden, “ won’t, ”, Stefanie Camfield, Daryl Joseffer, “, ” Joseffer, Neil Bradley, Kathleen Hochul, Anne Clark, Vladeck, Raskin, Clark P.C, Amanda Wait, DLA Piper, Clark Organizations: New, New York CNN, Federal Trade Commission, FTC, of Commerce, Federal Register, Washington , D.C, Engage, Chamber’s Litigation, New York Locations: New York, California, North Dakota, Oklahoma, Washington ,, Colorado , Maryland , Oregon, Rhode

☆ Here's where the world's top 0.001% are putting their money, according to wealth experts
▼ + stars: | 2024-04-22 | by ( Lee Ying Shan | In Ying-Shan-Lee | ) www.cnbc.com time to read: +3 min

"While there is no official threshold, centimillionaires or individuals with a total net worth of over $100 million, is a good benchmark as entry into the 0.001% club," said Kevin Teng, CEO of WRISE Wealth Management Singapore, a wealth enterprise for ultra-high net worth individuals. Family offices as investment vehiclesIndividuals of such wealth generally have their money managed by single family offices, which handle everything including their inheritance, household bills, credit cards, immediate family expenses, etc., said Andrew Amoils, an analyst at global wealth intelligence firm New World Wealth. "These family offices often have foundation arms for charities and venture capital arms that invest in high growth startups," said Amoils. The number of family offices in the world has tripled since 2019, topping 4,500 worldwide last year with an estimated $6 trillion in assets under management combined. Ultra high net worth individuals also explore potentially buying stakes in professional sports teams, said Dandrew's Buscemi.

Persons: Yana Iskayeva, Kevin Teng, Salvatore Buscemi, Teng, Buscemi, Michael Sonnenfeldt, —, Andrew Amoils, Dandrew's Buscemi, Jerry Jones, Jayne Kamin Organizations: WRISE Wealth Management Singapore, Bay Area, NFL, Dandrew, CNBC, Dandrew Partners, Tiger, Dallas Cowboys, Getty Locations: centimillionaires, New York City, Bay, Los Angeles, London, Beijing, WRISE, United States, Oxnard , California

☆ Caviar, champagne, and IPOs: At the Jefferies Private Internet Conference, tech dealmaking was back
▼ + stars: | 2024-04-19 | by ( Ben Bergman | ) www.businessinsider.com time to read: +4 min

Jefferies hosted a conference to bring together late-stage tech founders, investors and bankers. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementAs bankers and venture capitalists nibbled on caviar sushi and sipped champagne and sake this week at Nobu Malibu, there was a gleeful mood at the beachside closing dinner of the Jefferies Private Internet Conference. After a Covid pause, Jefferies resumed this conference in 2022 to bring together late-stage tech founders, investors, and bankers. Related story"Beyond typical deal considerations, AI has emerged as the single biggest new influence today in tech M&A," according to Greenberg.

Persons: Jefferies, —, Cameron Jefferies, Jason Greenberg, Greenberg, Goldman Sachs, David Solomon, Reddit, Marc Andreessen, Rich Handler, Andreessen Horowitz, Neerav, Goldman, JP Morgan Chase, we've, Lester Organizations: Service, Jefferies Private Internet Conference, Technology, Media, Telecom Investment Banking, Jefferies, Global Technology, Informatica, Epic, Venture, Jefferies Private Locations: Neerav Kingsland

☆ Netflix co-founder swears by ‘great business philosophy’ from Jeff Bezos: ‘Take a lot of risks on things that are recoverable’
▼ + stars: | 2024-04-18 | by ( Tom Huddleston Jr. | ) www.cnbc.com time to read: +3 min

When it comes to taking risks, Netflix co-founder Reed Hastings has an important rule of thumb. "I try to take a lot of risks on things that are recoverable," Hastings said in a recent conversation on entrepreneur Tim Ferriss' podcast. A two-way door risk is easy to take because it's reversible, so "you can come back in and pick another door," Bezos said. But a one-way door risk probably can't be undone. In 2017, Hastings told CNBC he was actually pushing his content team to "take more risk" in that regard.

Persons: Reed Hastings, Hastings, Tim Ferriss, Jeff Bezos, Lex, Bezos, — Hastings, Ferriss, Fortune Organizations: Netflix, Amazon, CNBC, Peace Corps Locations: Swaziland, Africa

☆ Gen Z's key to financial security
▼ + stars: | 2024-04-18 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailGen Z's key to financial securityYoung adults in the U.S. - ages 18 to 34 - are more likely than any other generation to say that "owning my own business" is key to their financial security, according to a new cnbc global your money survey. As part of its financial education initiative, CNBC, in partnership with Junior Achievement, brought together business leaders to discuss founding a company as a possible career path. CNBC'S Senior Personal Finance Correspondent looks at how this career exploration program in Denver aims to inspire high school students to become entrepreneurs.

Organizations: cnbc, CNBC, Junior Locations: U.S, Denver

☆ Truth Social Has an Edge as Rival Right-Wing Apps Falter
▼ + stars: | 2024-04-18 | by ( David Yaffe-Bellany | Matthew Goldstein | ) www.nytimes.com time to read: 1 min

After former President Donald J. Trump was kicked off Twitter in 2021, conservative entrepreneurs rushed to promote social media alternatives tailored to him and his supporters. There were Parler and Gab, Twitter-like sites popular among the people who stormed the U.S. Capitol on Jan. 6. Then came Gettr, a social media app created by one of Mr. Trump’s former advisers. That crowded field has now narrowed, giving an edge to Truth Social, the platform that Mr. Trump’s company owns and where he is the main attraction.

Persons: Donald J, Trump, Trump’s Organizations: Twitter, U.S, Capitol

☆ I have 5 income streams and make $142,000/mo from Amazon alone: Top 3 side hustle mistakes I always tell others to avoid
▼ + stars: | 2024-04-17 | by ( Dr. Jenny Woo | ) www.cnbc.com time to read: +4 min

This side hustle saw me through the next five years while I completed my Ph.D. When I started, I didn't know much about running a business, but today, I have five income streams. I bring in $142,000 a month from the Amazon business alone. Don't overcomplicate your productWhen I started my side hustle, I had major imposter syndrome. So before you begin any side hustle, ask yourself two key questions: What is the fundamental need that my product or service fulfills?

Persons: I've, hustlers Organizations: University of California Locations: University of California Irvine

☆ Health VC firm SpringTide Ventures just closed its second $65 million fund. Here's what a startup needs to get its backing.
▼ + stars: | 2024-04-17 | by ( Rebecca Torrence | ) www.businessinsider.com time to read: +5 min

Read previewAustin Walters started SpringTide Ventures in 2018 to disrupt healthcare by democratizing access to health innovations. The firm just closed its second $65 million fund to make more of those bets. A tough fundraising environmentAfter closing on its first $20 million fund, which the firm began investing out of in 2019, SpringTide originally set a $100 million target in 2021 for its second fund, Walters said. SpringTide picks a different focus area each time — most recently, home health, where the firm has invested in companies like family primary care startup Nest Health. By solving significant problems with advanced technologies, these companies have natural competitive advantages that allow them to drive outsize returns for the firm, Walters said.

Persons: —, Austin Walters, Walters, Henry Ford, We're, SpringTide, Justin Hackworth Photgraphy SpringTide, OpenLoop, outsize, SpringTidew hasn't, " Walters Organizations: Service, SpringTide Ventures, Tiger Global, Sonic Healthcare, Business, Health, Ally Bank, Troomi Wireless Locations: Boston, San Francisco, Salt Lake City, New York

☆ Denver-Boulder's recipe for natural food success
▼ + stars: | 2024-04-17 | by ( Andrea Day | Chris Dilella | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailDenver-Boulder's recipe for natural food successMeet some of the successful entrepreneurs who parlayed their passion for healthy living into million-dollar businesses, fueled by the city's vibrant farmers market and supportive community.

Organizations: Denver

☆ Mark Cuban is ‘proud to pay’ $275.9 million in taxes: 'It’s crazy and unreal in so many ways'
▼ + stars: | 2024-04-15 | by ( Mike Winters | ) www.cnbc.com time to read: +4 min

"I pay what I owe," Cuban wrote on social media site X on Sunday. Long-term capital gains taxes apply to the sale of assets held for more than a year before they are sold. Capital gains rates are based on total taxable income and are generally lower than ordinary income rates. Paying more than a quarter of a billion dollars is "crazy and unreal in so many ways," Cuban wrote on X. "Some people might find it distasteful to pay taxes," Cuban wrote.

Persons: Mark Cuban Organizations: CNBC, Dallas Mavericks, Capital Locations: U.S, Cuban

☆ Women athletes are on fire. See the 13 top investors and fund managers pouring money into the next 'big opportunity' in sports.
▼ + stars: | 2024-04-14 | by ( Tiara White | ) www.businessinsider.com time to read: +3 min

It comes at a time when women's sports generally — from basketball to soccer and even volleyball — are attracting new viewers. Last week's college women's basketball championship game between the Hawkeyes and the South Carolina Gamecocks, meanwhile, snagged more viewers than any basketball — women or men, college or pro — since 2019, ESPN said. It's not just women's college ball that's luring eyeballs. Attendance at US women's pro soccer games increased by 23% in 2023, according to National World Soccer League commissioner Jessica Berman. And that's just the start, according to hedge fund mogul Marc Larsry, who recently declared women's sports the next "big opportunity" for sports investing.

Persons: Big3, Caitlin Clark, Caitlin, Ted Lasso, Jason Sudeikis, Travis Scott, It's, Jessica Berman, Marc Larsry Organizations: University of Iowa, Business, Iowa Hawkeyes, Hawkeyes, South Carolina Gamecocks, ESPN, National World Soccer League, Deloitte, Wall Locations: Nebraska, Silicon

☆ A millennial who achieved financial independence years ago through 'extreme' saving opens up about what he would do differently — and explains how millennials are hitting financial freedom without a '
▼ + stars: | 2024-04-14 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +5 min

"On the road to financial independence, I was trying to save and invest as much as I could as early as I could," he told Business Insider. Related stories"A vast majority of the people that are pursuing FIRE or financial independence have a much more measured approach to the pursuit and are doing it on their own terms," he said. How to hit financial independence without a 'sacrifice mentality'A common misconception about the Financial Independence, Retire Early (FIRE) movement is that it requires immense sacrifice. "Younger people are now much more focused on the freedom component and being able to get freedom now while simultaneously pursuing financial independence." As opposed to aggressively saving 80% of their income and waiting 10 years to reach financial independence.

Persons: —, Grant Sabatier, he'd, he's, He's, there's, it's, Sabatier, Lauren, Steven Keys, Steven, you'll, We're Organizations: Service, Business, Financial Independence

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Persons: you'll, APRs, Cash, you've, You've, Cardholders, cardholders, They'll Organizations: Business Insider, U.S . Bank Business, Cash, Mastercard, Bank of America, Cards, Bank Business, American Express, Bank, of America, Rewards, EV, Ink, FDIC, Express, U.S . Bank, Business, U.S, Chase, . Bank, Chevron Locations: Chevron

The Denver-Boulder metro region in Colorado is among the winners in the migration shuffle. Led by Denver and Boulder, Colorado has built a thriving tech industry ecosystem attracting both startups and tech giants — Google, Amazon and Salesforce all now have a major presence in the area. CNBCOver the last five years, about $17 billion in VC funding has poured into the area, according to research firm CB Insights. While the Denver startup community has seen dramatic expansion, it hasn't made as much progress on diversifying its business community. However, even the top 10 cities for Black-owned business growth in the study fall far short of corresponding metro population metrics.

Persons: Niji Sabharwal, Sabharwal, Jared Polis, Dan Caruso, CNBC's Carl Quintanilla, Caruso, hasn't, Zaneta Kelsey, Donavan Bennett, Bennett Organizations: Rockies, CNBC, Denver, Google, Colorado Office, Economic Development, International Trade, Boulder, Zayo, Brookings Institute Locations: CNBC's, U.S, California, Denver, Boulder, Colorado, San Francisco, High City, It's, Boulder , Colorado, Black

☆ In Praise of Middle Managers - The New York Times
▼ + stars: | 2024-04-11 | by ( David Brooks | ) www.nytimes.com time to read: +2 min

Nobody writes poems about middle managers. So how do these managers work their magic? Let me give you a few features of ethical leadership:Knowing that moral formation is part of the job. When I was starting out at “PBS NewsHour” and I said something he thought was smart, his eyes would crinkle with pleasure. When I said something he thought was crass, his mouth would turn down in displeasure.

Persons: I’ve, Tucker Carlson, Ted Lasso, Lasso, fellas, Jim Lehrer Organizations: PBS

☆ Brady, Jeter, Eli and Peyton Manning headline Fanatics’ effort to build a comic-con of sports
▼ + stars: | 2024-04-11 | by ( Ian Thomas | ) www.cnbc.com time to read: +3 min

Lance Fensterman, CEO of Fanatics Events and the former president of ReedPop — where he produced pop culture events like New York Comic-Con, Complex-Con, and Star Wars Celebration — said he sees several parallels between pop culture fans and sports fans. However, he noted, while events like New York Comic-Con have evolved to embrace multiple difference fanbases and communities, the sports-focused event space is "ready to be disrupted a bit." Tom Brady, Derek Jeter, Eli and Peyton Manning, Kevin Durant, Sabrina Ionescu and Hulk Hogan are just some of the big sports names scheduled to appear, Fensterman said. "Those are the moments that we get excited about, and we just don't see it being done anywhere else in the world of live sports events," Fensterman said. The festival was the highest-grossing and most-attended fan event in WWE history, according to Fanatics.

Persons: Con, Lance Fensterman, ReedPop, —, You've, Fensterman, Tom Brady, Derek Jeter, Eli, Peyton Manning, Kevin Durant, Sabrina Ionescu, Hulk Hogan Organizations: New York, Star, Fest, Javits Center, NFL, NBA, WNBA, MLB, NHL, MLS, UFC, WWE, Endeavor, IMG, WWE's Locations: New York City, U.S, New, Philadelphia

☆ Adam Neumann opens up about his billion-dollar plan to transform apartment living and explains why he wants to buy back WeWork
▼ + stars: | 2024-04-11 | by ( Ben Bergman | ) www.businessinsider.com time to read: +6 min

In August 2022, former WeWork cofounder Adam Neumann announced he was back, starting a new company called Flow to transform apartment living. I spoke with residents and staff, but my many requests to speak on the record with Neumann himself were always rebuffed. Whatever happens with Flow, Neumann will always be remembered for WeWork, which he resigned from in 2019. The launch occurs as Neumann is trying to buy back his bankrupt former company for more than $500 million. I think people are skeptical of how Flow is a tech company.

Persons: Adam Neumann, Andreessen Horowitz, Neumann, Neumann's WeWork, it's, We're, we're, It's, WeWork, You've, Ben, Horowitz Organizations: Business Locations: Fort Lauderdale , Florida, South Florida, Fort Lauderdale, Miami

☆ How 2 executives found success in Puerto Rico's booming business landscape
▼ + stars: | 2024-04-09 | by ( Sponsor Post | Sponsored Invest Puerto Rico | ) www.businessinsider.com time to read: +5 min

In 2023, more than 550 businesses and nearly 6,000 new job opportunities were established on the island, according to Invest Puerto Rico. More than ever, Puerto Rico is positioned to host entrepreneurs and executives considering establishing or expanding their business presence. When González cofounded the tech consultancy firm Wovenware in 2003, Puerto Rico's tech scene was virtually nonexistent. Fast forward two decades since its founding, and Wovenware stands as a testament to Puerto Rico's vibrant tech ecosystem, having grown into a key player. Learn more about establishing yourself in Puerto Rico's business landscape.

Persons: Luis Ramos, Christian González, González, might've, Ramos, it's, — Organizations: Invest, Honeywell Aerospace, Puerto, Puerto Rico, University of Puerto, Polytechnic University of Puerto Rico, Honeywell, González, Workers, Insider Studios Locations: Puerto Rico, Invest Puerto Rico, Puerto Rican, Puerto, University of Puerto Rico, Aguadilla, Puerto Rico's

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