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☆ Couple grew their basement side hustle into a business bringing in $4.5M/year: We'd 'never seen anything like that in a bank account'
▼ + stars: | 2024-04-22 | by ( Annie Probert | ) www.cnbc.com time to read: +4 min

They built the wooden cart with bicycle tires and a kickstand in her parents' basement in 2016, maxing out her credit card's $1,500 limit to afford materials, and called it The Nitro Cart. That summer, they took it to any event that would take them, from sheep shearing events to farmers markets across Rhode Island, serving small batches of nitrogen-infused cold brew. To survive the winter, they partnered with local restaurants to install their nitro cold brew on tap. Here's how they built The Nitro Bar, from 80-hour workweeks to some TikTok virality and a lot of luck. They both worked "insane hours, usually seven days a week" to turn their cart into The Nitro Bar, says Finocchiaro.

Persons: Audrey Finocchiaro, Sam Lancaster, maxing, Sam, Lancaster, Finocchiaro, —, they'd, it's, it'll Organizations: Brown University, CNBC, Finocchiaro Locations: Rhode Island, Rhode Island and Massachusetts, Lancaster

☆ Mark Cuban offered a fellow 'geek' $75,000 on 'Shark Tank': 'I want you to myself'
▼ + stars: | 2024-02-26 | by ( Ashton Jackson | ) www.cnbc.com time to read: +3 min

Mark Cuban and Justin Huang have a mutual love for education — and a mutual hate for killing bugs. The two hit it off on Friday's episode of ABC's "Shark Tank," where Huang pitched his product, Cup-a-Bug, to the show's investor judges. A self-proclaimed "bug sympathizer," Huang created the contraption for a simple reason: "I'm just terrified of bugs, even from [childhood]. The investors encouraged him to take a minute to gather his thoughts and keep going, with Cuban yelling, "You're good!" Mark Cuban checking out the Cup-a-Bug on ABC's "Shark Tank."

Persons: Mark Cuban, Justin Huang, —, Huang, We've, Lori Greiner chimed, Cuban, Huang's, Chapman, Daymond John, Mark, Christopher Willard Organizations: University of California, Irvine, LinkedIn, Disney Locations: Irvine , California, Cuban, U.S

☆ 21-year-old ran his side hustle from his parents’ apartment—now it brings in over $500,000 a year
▼ + stars: | 2023-10-31 | by ( Megan Sauer | ) www.cnbc.com time to read: +5 min

Today, the very same side hustle, called Invalid.jp, brings in more than $500,000 per year . A popular video of Invalid.jp's light-up stickers, posted in 2022, led to $38,000 in sales in a single day, Siu says. "A lot of times, people I talk to trying to start businesses only try for four or five months and [quit when] it doesn't work," Siu tells CNBC Make It. You can figure out what's trending by looking on Amazon or TikTok, or you can film and post videos and see if it goes viral. When you're doing a side hustle, you're going to be working 24/7.

Persons: Siu, Jason Siu, they've, He's, TikTok, he's, I've, Warren Buffett Organizations: University of Hawaii, CNBC Locations: Manoa, Honolulu ., AskMakeIt@cnbc.com

The pickle-wardrobe mania is emblematic of what sets TikTok Shop apart from e-commerce competitors like Shopify and Amazon. Just like TikTok's non-shopping content, TikTok Shop is built around viral videos, be it a surge in viewer interest in pickle-jar sweatshirts or a mad rush to buy freeze-dried Skittles . For UK sellers, chasing virality still seems to be the defining characteristic of the TikTok Shop experience. Jessica Slone runs TikTok shop Bad Addiction Boutique, which has sold tens of thousands of pickle-jar sweatshirts. "TikTok Shop is kind of this roller coaster, and right now it's on this amazing uphill journey.

Persons: TikTok, Dill, Frank Bloomer, Ashley Martinez, Michael Herling, I'm, it's, Herling, Jessica Slone, Slone, TikTok's, Lindzi Shanks, Shanks, TikTok doesn't, Virality, Laura Ritchey, Sellers, Julia Cote, hadn't, influencers, they'd, Ben Muir, virality, Hira Tariq, who's, Candy, there'll, It's, Boutique's Slone Organizations: US, TikTok Shop, Shipping Locations: Grillo's, West Texas

☆ Is Originality Even a Worthy Ambition Anymore?
▼ + stars: | 2023-06-28 | by ( Jason Zinoman | ) www.nytimes.com time to read: +1 min

The amount of derivative work makes you wonder if the demand for the new is in decline. Ever since Penn and Teller burst on the scene, every magician seemed to be deconstructing illusions while doing them. But this peek behind the curtain is something new, while, as its title suggests, not being original at all. We only hear Hnath, on a recording played by Cuiffo, the sole one onstage. Hnath asks Cuiffo to show him a trick, and after he does, multiple times, artistic tension between collaborators emerges.

Persons: TikTok virality, Teller, Steve Cuiffo, Lucas Hnath, Hnath, Cuiffo Organizations: Penn, Cuiffo

☆ Bolloré Jr. readies Vivendi for asset purge
▼ + stars: | 2023-03-09 | by ( ) www.reuters.com time to read: +2 min

But the markdown gives Yannick more latitude to end his father’s ill-fated Italian foray while continuing to play hardball to raise the price tag. Here again, the move will give Bolloré junior more freedom to consider offers from potential buyers, which the European Commission will have to approve. At 70, the elder Bolloré, who remains in charge of the family holding that owns a 30% stake in Vivendi, is gradually implementing his succession plan. At 9.8 euros, Vivendi’s stock fails to capture the value of its various investments and trades below an analysts’ target of between 12 to 15 euros. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

☆ Sea sails past growth vs. profitability debate
▼ + stars: | 2023-03-08 | by ( ) www.reuters.com time to read: +2 min

BENGALURU, March 8 (Reuters Breakingviews) - Singapore technology giant Sea (SE.N) on Tuesday reported its first ever quarterly profit, beating regional tech firms like GoTo (GOTO.JK) and Grab (GRAB.O) to the punch. The almost $1 billion swing from a fourth-quarter loss in 2021 to a $423 million profit in the final three months of last year is largely down to cost cuts. The company run by Forrest Li slashed sales and marketing expenses alone by $745 million, a whopping 62% drop. Whether that’s sustainable is unclear, though Li pointed out that the company had sold, closed or downsized a number of non-core operations and investments. It’s a welcome sign that upstart tech companies don’t always have to sacrifice profitability for growth.

☆ L&G looks overseas to fight Brexit discount
▼ + stars: | 2023-03-08 | by ( ) www.reuters.com time to read: +2 min

That’s partly due to its concentration in the life sector – Wilson sold out of general insurance in 2020. L&G’s investment management unit has benefited from an international drive, with non-UK assets accounting for 43% of new money last year. On the life insurance side, some 39% of L&G’s gross premiums were booked overseas in 2022, with the U.S. a particular focus for Brexit-backing Wilson. The less L&G looks like a British company, the more attractive it will be to shareholders. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

☆ Kakao can end K-pop saga with near-$1 bln mic drop
▼ + stars: | 2023-03-07 | by ( ) www.reuters.com time to read: +2 min

Kakao and its entertainment arm are eyeing a 35% stake in SM via a tender offer worth $962 million. If Kakao succeeds, the company, which has the backing of SM's management, would become the label's top shareholder. Kakao Entertainment in January raised $930 million from investors including GIC in Singapore and Saudi Arabia's Public Investment Fund. The envisioned partnership between Kakao, Kakao Entertainment and SM would cover global distribution, production and more for music and other content. Following Kakao's offer, SM Shares rallied 14% to 148,400 won ($114); they have nearly doubled since the start of the year.

☆ New Carlsberg CEO’s task: stay ahead of Heineken
▼ + stars: | 2023-03-07 | by ( ) www.reuters.com time to read: +2 min

LONDON, March 7 (Reuters Breakingviews) - Carlberg’s (CARLb.CO) new boss may struggle to maintain its newfound fizz. The $21 billion Danish brewer revealed on Tuesday that Chief Executive Cees 't Hart will retire after eight years at the helm. The company now trades at nearly 11 times its expected EBITDA for 2023 according to Refinitiv data, a premium to arch rival Heineken (HEIN.AS). In 2022, Heineken grew revenue in its Asia-Pacific market by 70%, while Carlsberg’s sales in the region rose by 22%. If the new boss can’t keep pace, Carlsberg shareholders will face a painful hangover.

☆ US blacklisting is no match for TikTok virality
▼ + stars: | 2023-03-03 | by ( ) www.reuters.com time to read: +2 min

NEW YORK, March 3 (Reuters Breakingviews) - The United States’ web of trade restrictions has a TikTok-sized hole in it. The Commerce Department added another 28 Chinese firms to its trade blacklist on Thursday, requiring licenses to acquire U.S. wares. Yet social media app TikTok, which government officials have repeatedly voiced national security concerns over, hasn’t been hit with trade curbs. TikTok parent ByteDance is based in China and has eluded that list, largely because the Commerce Department’s tools affect hard goods, not software. Meanwhile, negotiations between U.S. regulators and TikTok over a security deal have dragged on for years.

☆ Clinics are trying to sell trendy weight-loss injections by flooding TikTok with videos about semaglutide
▼ + stars: | 2023-03-02 | by ( Sindhu Sundar | Alex Bitter | ) www.businessinsider.com time to read: +9 min

The video, which has nearly 60,000 likes, is among a proliferation of TikTok posts tagged with the names of semaglutide weight-loss drugs, including Wegovy and Ozempic. "What drives the video to go viral is if you can generate some kind of discussion," he told Insider. Unlike official ads, partnerships, or promotions, TikTok posts receive little oversight from government agencies or medical boards. All four said the TikTok posts are driving an influx of patients to their clinics. Oden told Insider that her videos are "drumming up quite a bit of new business" among patients of all ages.

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