June 2024

Amazon’s Alexa unit has historically been unprofitable, losing billions of dollars since its introduction in 2014 — but AI could help turn things around.

According to a Friday Reuters report citing eight sources “with direct knowledge” of Amazon’s plans, including current and former Amazon employees who worked on the voice assistant, Amazon is considering putting a higher AI-powered Alexa behind a subscription paywall.

Amazon is currently working on upgrading the free version of Alexa to one with AI capabilities, per Reuters, and plans to add a higher, subscription level of the voice assistant that can process more complex AI prompts.

The two levels of Alexa are internally known as the “Remarkable Alexa” and the “Classic Alexa.” Sources told Reuters that Amazon has thought about a $5 to $10 per month subscription for “Remarkable Alexa” to differentiate the two.

“Classic Alexa” will remain free, according to the report.

If implemented, the subscription would be the first major reframing of the voice assistant since Amazon introduced it.

^{Amazon Echo Show 8 previewing new Alexa AI features. Credit: Al Drago/Bloomberg via Getty Images}

Amazon’s Echo smart home devices with Alexa have been surprise hits since they launched, but a 2022 BI report showed that even though they’re bestsellers, most of them sold at cost.

Related: Amazon Swaps Plastic Pillows For Paper Shipping Materials

Amazon already previewed a generative AI version of Alexa in September and showed off how the voice assistant could talk with more personality and take in more context.

Amazon stated then that it had sold more than half a billion devices with Alexa and that AI features “will be available to Alexa customers in the U.S. soon.”

While many top business leaders continue to express concern over the unchecked development of AI, the CEO of SoftBank, a Japanese investment company, has a big prediction for its future.

In a rare public appearance to shareholders at the bank’s general meeting on Friday, CEO Masayoshi Son spoke about his desire to create a world powered by artificial superintelligence, or ASI.

Related: Most Employees Haven’t Used AI, Don’t Trust the Tech: Report

“SoftBank Group has done many things until now that have all been a warm-up for my great dream to realize artificial super intelligence,” Son told shareholders of the Japanese company, per Reuters.

He also said AGI, or artificial general intelligence, which refers to artificial intelligence that is smarter than the human brain, will be here within the next three to five years and that we could see ASI technology reach a level that’s 10,000 times smarter than the human brain within the next 10 years, according to CNBC.

Son’s futuristic comments did not include an actionable plan for how the company plans to step into the space of ASI, but he mentioned that SoftBank would be working to produce robots with AI capabilities that could be used across all sectors and require “immense capital” to complete.

Over the last year, dozens of billionaires and business leaders, including Elon Musk and Richard Branson, have signed letters calling for regulation of the technology despite the positive benefits the advancement in technology could signal.

Related: 3 Things to Look for to Determine If AI Is Being Used Ethically

“I’m more excited than worried about AI,” Branson recently told Entrepreneur. “I think it’s going to transform people’s healthcare, it’s going to transform operations, it’s going to transform many, many aspects of life.”

SoftBank was up nearly 27% year over year on Friday afternoon.

One of the great truisms in the retail and restaurant businesses is that it’s all about “location, location, location.” You can fix bad systems, bad management and bad staff, but fixing a bad site is a challenge most companies should avoid at all costs.

Related: Considering franchise ownership? Get started now to find your personalized list of franchises that match your lifestyle, interests and budget.

Location is paramount

A bad location may save money on rent in the short term, but it will cost you more over time. The best form of marketing for any restaurant or retail store is its location. A good site also gives you two chances to make serious money — while you’re operating the business, and then when you want to sell the business. Don’t forget, a lease is a contract. If, for some reason, your business doesn’t succeed, you can’t walk away from the lease. You must keep paying for that shuttered store or restaurant until you negotiate an exit.

That’s one of the benefits of franchising — the franchisee owns and runs the business but has access to the real estate expertise and discipline of a much larger company, reducing time and risk.

Related: Become a Franchise Owner in 5 Easy Steps

Solo vs. franchising

Let’s imagine you want to open a hamburger restaurant. If you go it alone, you’d have to know site availabilities — are there any existing restaurants for rent or sale that fit your criteria? Finding those can entail subscribing to pricey real estate databases, and those databases won’t tell you why a space is available: owner retirement, changing demographics, or a poor operator.

Driving around the market won’t give you the most important information, either. Shopping center managers track their tenants carefully, know who on the rent roll is struggling (late payments, requests for relief) and already have a plan for when that lease is up. By the time you see a “For Lease” sign, it has already been picked over by the insiders — and they’ve passed on it.

Location demographics are crucial; you need to know where your target customers live or work and how far they are willing to travel for what you sell. Demographic reports also show how much people spend on categories such as restaurants, beauty, and pets. If you are opening a pet brand in a new market, you want to know where the highest concentration of your target customers is. Additionally, consider co-tenancies— what neighbors complement your offerings? Coffee and healthy foods often do well if they’re located near a gym or spa.

Market rents are another factor; the asking rents on listings could be real or wishful thinking on the part of the landlord. You need to compare that number to other nearby locations since factors like which side of a street gets afternoon sun can change the rent per square foot significantly. You also need to gauge how motivated the landlord is to negotiate. Do they need to get someone in quickly, or will they wait for the number they want? Zoning is important as well. Can the site accommodate the drive-through you need to succeed? Are there radius restrictions because the site is near a school? Will you need some easements? Finally, competition is a critical consideration. You might find the perfect building in the perfect neighborhood at the perfect price, but this could be undermined if your main competitor is just down the street.

Related: Is Franchising Right For You? Ask Yourself These 9 Questions to Find Out.

Smart analysis

One of the smartest forms of analysis is supply and demand in a market. A case in point is Times Square NYC, where everyone misfires. The area is so dense that restaurants pay five times more rent for that trophy site, only to see low sales. Why? Because of all the other restaurants in the area. Even weak competitors will still take some customers.

The easy solution is to work with a local real estate expert. But there are challenges, there, too — how do you find one? You can look up local brokers and contact them , but how many do you want to interview? Do you want to meet with someone relatively new to the business who will really want to help you, or a veteran broker who has a lot of market knowledge — but probably a lot of deals in the pipeline?

It’s important to remember that brokers are only paid when a deal is done. The industry pays 6% in commissions on the lease term. For example, an annual rent of $100,000 on a 10-year lease results in $1 million in gross rents paid to the landlord. The landlord pays out 6% of this, half to the listing rep and half to the tenant rep — $30,000 to each side. That’s significant money, and one reason why most tenant reps don’t like doing penetration plans. A really objective penetration plan tells you where you should go. But if there are no vacancies in that area, there’s no lease and they don’t get paid.

And what do you do when it’s time to invest in your second, third and 10^th locations? Don’t forget, you’re investing your profits from your first location into more and so on, to build wealth.

the good news is, you don’t have to do this yourself. A franchisor has this expertise, and franchisees are paying for site selection and lease negotiations assistance. The franchisor knows what locations work, have relationships with brokers nationwide to help you negotiate and will help you avoid an oversaturated market. They won’t sell you a territory if it doesn’t need more units. That’s because for franchisors, a lease is an asset. (In fact, franchisors’ primary two assets are franchise agreements and franchisee leases.) They make sure they have the rights to sell a business including the proper assignability and transfer language.

The important thing to remember is that real estate is its own business for a reason, requiring market-specific knowledge and relationships. Franchisors have that knowedge and relationships and are eager to help.

When I transitioned as Bigleaf’s CEO in 2022, my day-one goal was establishing a solid, high-performing team. This required my focus on identifying and establishing clear goals, ensuring everyone was on the same page regarding the company’s mission and vision, especially the 102 employees scattered across 38 states. But, as all effective strategies start, this huge step was characterized by trial and error.

A team’s strength lies in its people’s skills and how they synergistically come together. I invest heavily in our people, providing ongoing training, encouraging open communication, and ensuring every team member feels valued and heard.

Although we’ve achieved this goal, I also recognize that markets constantly shift, trends come and go, and technology evolves. We may have succeeded in solid recruitment, training and retention strategies, but I still needed to ensure everyone could roll with the punches. Every day, I aim to develop further a team that can seamlessly pivot and adjust to evolving market demands.

1. Clear mission alignment, role clarity and accountability

One of the first steps we took was ensuring every team member understood the company’s direction and aspirations. We clarified our product-market fit, value proposition, and the milestones critical to customer satisfaction.

Moreover, we focus on reaching business goals by strategically tying job functions to them. For example, high-quality growth is measured through a key metric at Bigleaf: our Annual Revenue Run Rate (ARR). We do this at least once a year to ensure the entire team’s focus is headed in the same direction.

Related: 10 Growth Strategies Every Business Owner Should Know

2. Thoughtful performance metrics

Beyond ARR, we learned to balance our performance metrics carefully. Prioritizing one metric over another could lead to unintended consequences. For example, focusing on service quality alone could lead to inefficiency and vice versa. Our practice has evolved to meticulously analyze and strategically balance performance metrics. We incentivize the right behaviors aligned with the core of our business, which has worked wonders so far, helping us achieve desired outcomes across the organization. This also minimizes the risk of unforeseen repercussions.

3. Intellectual safety

Creating an environment where every team member feels safe sharing ideas and challenging the status quo significantly influences our performance levels. Intellectual safety in the workplace can drive creativity. This open-door policy encourages open communication, innovation and risk-taking, allowing the team to collaborate and pioneer solutions to our unique challenges in the workplace and the business.

We strive to maintain and solidify this culture to consistently boost morale, engagement and productivity and, ultimately, drive bottom-line results.

Related: Why You Should Care About Psychological Safety in the Workplace

4. Preventing burnout

To prevent burnout, I focus first on maintaining my own equilibrium. As the saying goes, “You cannot pour from an empty cup.” As for the team, we keep our mission and goals clear, ensuring every task has a purpose.

Having a dispersed work environment comes with its unique perks and challenges. Some members may feel tracking their time and productivity is a form of micromanagement; some may understand that it’s a tool to keep their focus on what really matters and spend less time on other tasks. Regardless, building that personal connection is essential. We hold regular in-person meetings, monthly all-hands-on-deck calls and an annual company gathering to strengthen that sense of belonging and unity. These initiatives are not merely logistical but crucial to maintaining our team’s overall health and morale.

Related: The 10 Warning Signs of Employee Burnout and How to Handle It

5. Learning from mistakes

Every mistake has been a step toward understanding what it truly takes to build a high-performing team. Leaders, as much as you want things done sooner, remember there are no shortcuts, especially in growing a team. Yes, following the more straightforward route or listening to a single opinion is tempting, especially in recruitment, but building comprehensive training programs is worth it.

Gradually integrating new hires into your company culture but leveling expectations upfront yields more efficient results and drives the business forward more consistently. This realization has driven us to prioritize transparent and comprehensive approaches to our recruitment and training processes, cementing our reputation as a leader in the tech industry.

The path forward

Adaptability, curiosity and open-mindedness have become our guiding principles. Our work demands that we remain flexible and eager to learn from successes and failures. Similarly, resilience, commitment and an open heart are the key ingredients to building a high-performance culture focused on team well-being and business growth.

I hope to have highlighted the undeniable truth that a company is only as strong as its culture and people. For founders and business leaders alike, investing in your people goes a long way. Listen to the folks outside your bubble, and take insights with an open ear. Stay curious, stay open-minded and don’t be afraid to take advantage of opportunities as they present themselves. Building an empire requires grit, and it takes learning from mistakes.

“I’m the little boy who loved to draw, who never grew up,” Reginald Adams, professional artist and founder of Houston-based public art and design firm Reginald C. Adams LLC, tells Entrepreneur. “And thanks to an incredibly supportive family, I’ve always been encouraged to do what I loved.”

As Adams entered his teenage years and added other mediums to his creative repertoire, his circle of family supporters expanded to include paying customers. Thirty years later, he’s traveled the world to create artwork with a social impact — including the Absolute Equality Juneteenth Mural Project.

“From 2014 to 2020, a lot of my work [was] rooted around cultural icons [and] historical figures, primarily in the African American community, that some organization or individual or entity wanted to recognize or pay homage to,” Adams says. “So I found myself painting portraits or creating sculptures honoring historical figures.” Adams’ extensive portfolio caught the attention of the Juneteenth Legacy Project, which commissioned his work to honor the holiday.

Before Adams went into business himself, he was the executive director of the Museum of Cultural Arts, Houston (MOCAH) for more than a decade. There, he focused on community-based public art; Adams built his skill set around community engagement and facilitating groups involving youth in creating public art. However, because Adams worked at a nonprofit organization, the pieces he made during those years were in the public domain.

Related: The 6 Do’s and Don’ts for Engaging in Juneteenth Conversations

“I think it’s wonderful how you serve the community, but what legacy will you leave for your children?”

One day, a “very wise businessman” sat down with Adams and asked him a “powerful” question. “He said, ‘Reginald, this is great what you’re doing, and I think it’s wonderful how you serve the community, but what legacy will you leave for your children?'” Adams recalls. That businessman encouraged Adams to start a private company and commissioned a large piece of art to provide a year’s salary.

So Adams established his LLC and continued to create community-based work — now with full ownership and control of all his projects and designs.

When Adams went into business for himself, one of the biggest challenges he faced was his own mindset. “Coming from the nonprofit world where a lot is expected for nothing or for free, I had to establish value for what I was doing,” Adams explains. “And I realized my work was valuable because it was tangible. I’ve always dreamed big, so all of my projects are very large-scale. But with many artists, it’s a challenge if you’re not trained to know how much your work is worth and then be confident to speak it.”

The shift took some getting used to, but thanks to his supportive community, Adams gained the confidence to speak up about and stand behind the value of his work, he says. Now, he has six professional artists, who are independent contractors, working with his firm, and he hires additional artists as needed.

^{Image Credit: Courtesy of ©2024 Reginald C. Adams LLC. Absolute Equality Juneteenth Mural Project in Washington DC. Artist: Reginald C. Adams and Creatives 2024.}

Related: How Inclusive Leaders Can Understand and Harness the Power in Juneteenth

“I would encourage other artists to really look around [at whom you] are standing next to.”

It’s important to surround yourself with people who believe in you, Adams says — and that may not necessarily be family or friends. Early in his career, the artist joined various business groups, like The American Leadership Forum and The Center for Houston’s Future, to be “in the midst of decision-makers.” “I would encourage other artists to look around [at whom you] are standing next to because your network really becomes your net worth,” he adds.

In January 2020, Adams completed a series of mosaic monuments in Emancipation Park, the oldest municipal park in Houston and Texas, which was founded by formerly enslaved people Rev. John “Henry” Jack Yates, Richard Brock, Richard Allen and Rev. David Elias Dibble. Then, the Galveston-based Juneteenth Legacy Project approached him about creating a piece. The project’s founder, Sheridan Lorenz, wished to honor Juneteenth with a mural in Galveston; her family owns the Old Galveston Square Building, which sits next to where headquarters for the Union Army stood back in 1865 — the Osterman Building.

“The Osterman Building no longer exists,” Adams says. “It’s currently a parking lot, but that parking lot is directly adjacent to the wall that is now host to the Juneteenth mural in Galveston. And so essentially, the mural is at ground zero of this historic moment in American history.”

The piece was a “little intimidating,” Adams admits — the 5,000-square-foot wall, which is 44 feet high and 125 feet long, would hold the biggest mural he’d ever tackled. But Adams was up for the challenge, “especially given the nature of the project.” So, with his team of six artists and about 320 gallons of paint, Adams created the piece over 27 days and 1,300 man-hours. It was dedicated three days after President Biden announced Juneteenth as a federal holiday.

Related: Formerly Enslaved Black Man Nearest Green Taught Jack Daniel Everything He Knew About Whiskey. Today, the Founder of Uncle Nearest Premium Whiskey Celebrates His Legacy.

“[Juneteenth] means something different in every part of the country. So I’m learning.”

“If you’re in Texas, you know about Galveston, but a lot of folks, [are like], ‘Galveston where?’ So it was great for the cultural tourism of Galveston,” Adams says. “Because of the scale of the mural [and] the visual content, the mural in many ways became the poster child for Juneteenth in that virtually every media network that focused on a story around Juneteenth or Galveston showcased the mural.”

Adams’ pieces had never received so much media attention, and the realization hit him: This is a lane for you, Reginald. Now a national holiday, Juneteenth wasn’t just a trend, he says, and Adams wanted to “take this story beyond the shores of Galveston, across the country.” So, with Capital One‘s support, that’s exactly what he did. Since 2021, the Absolute Equality Project has expanded to 13 murals across cities, including Los Angeles, Shreveport, Houston, Dallas, Miami, Detroit, Philadelphia, Chicago and Washington, D.C.

^{Image Credit: Courtesy of ©2024 Reginald C. Adams LLC. Absolute Equality Juneteenth Mural Project in Shreveport, Louisiana. Artist: KaDavien Baylor 2022.}

Before the Galveston mural, Adams says he “really didn’t think a whole lot about Juneteenth” or attend celebrations around the holiday. But “that has changed because of my awareness of what Juneteenth means,” Adams adds, noting that his work on the Absolute Equality Project has taken him across the country and deepened his appreciation for what the holiday means to people — “And it means something different in every part of the country. So I’m learning.”

Related: To Be a Real Ally, You Need to Support Black Employees Beyond Juneteenth. Here’s How.

“My journey has only unfolded because I’m working on things that are important to me.”

On Juneteenth this year, Adams says he plans to attend the Los Angeles dedication of the Absolute Equality piece created by Samson Bimbo Adenugba, an artist from Nigeria who now resides in Los Angeles. Adenugba’s mural is located inside one of the Capital One Cafés, “a very different environment for all of the murals in the collection,” Adams says, and one he’s excited to see in person.

For any artist or entrepreneur who wants to create work with a social impact, Adams has some words of wisdom: “Focus on what’s important to you. My journey has only unfolded because I’m working on things that are important to me. And I think when we focus on what is important to us, our attention around it increases. We’re being more authentic to who we are as creatives. The messaging becomes more authentic.”

Apple is sunsetting its no-fee, no-interest buy now, pay later program less than a year after making it generally available.

In a Tuesday statement to 9to5Mac and a Monday statement to CNBC, Apple announced that it has discontinued Apple Pay Later, a U.S.-only program that allowed users to apply for a loan from $50 to $1,000 directly from the Wallet app on their iPhones.

The program, which became widely available in the U.S. in October, gave borrowers the option to pay off the loan in four installments across six weeks, with no fees or interest.

Apple Pay Later is no longer available starting this week, according to Apple.

Related: ‘Buy Now Pay Later’ Increasingly Popular Among High Earners

In its place is a new personal finance option set to arrive later this year: installment loans offered through lenders, credit cards, and debit cards.

“The ability to access installments from credit and debit cards with Apple Pay will roll out starting in Australia with ANZ; in Spain with CaixaBank; in the U.K. with HSBC and Monzo; and in the U.S. with Citi, Synchrony, and issuers with Fiserv,” Apple stated in an update last week.

Apple added that U.S. users also have the option to apply for loans through Affirm, a third-party company, when they check out with Apple Pay.

Related: Buying Now to Pay Later? Credit Card Protections Now Apply

More than half of U.S. consumers recognize Affirm by name. ^{Apple Pay Later logo on MacBook and iPhone screens. Photo by Jakub Porzycki/NurPhoto via Getty Images}

Apple executives first pitched Apple Pay Later as a useful personal finance tool.

The draw was flexible payments; plus, applying for an Apple Pay Later loan also had no impact on credit scores.

“Apple Pay Later was designed with our users’ financial health in mind,” Jennifer Bailey, Apple vice president of Apple Pay and Apple Wallet, stated in March 2023.

Anyone who still has an active Apple Pay Later loan will be able to pay it off through the Apple Wallet app.

Apple Pay Later loans were backed by Apple and enabled through the Mastercard Installments program.

Related: Apple Launches Apple Card Savings Account From Goldman Sachs

Entrepreneurs know the cost of doing business all too well. A study done by Kauffman Foundations discovered that the average cost to just get off the ground is around $30,000, and those expenses increase each year. So when you find a necessary expense you can get lower, you should take advantage of it.

Since it can be difficult to do business without the fleet of Microsoft Office staples, budgeting for the software is important. And right now, a one-year subscription to Microsoft 365 that offers all the latest versions of the tools you know and love (and a whole lot more) can be yours for only $44.97 (reg. $69) right here through June 26.

This Microsoft 365 subscription can improve productivity thanks to all its helpful features, with perks that cover a wide range of necessities for entrepreneurs. This subscription provides access on up to five devices at a time — so you can work on that spreadsheet at home and in the office — and also includes an ample 1TB of cloud storage so you can secure important files, emails, and more without having to drag along clunky hard drives.

Since you probably don’t want to spend extra on security, you can let Microsoft 365 help — as their Microsoft Defender handles digital security and even includes identity theft monitoring. Want to work on your social media presence? Clipchamp lets you create and edit videos easily, and all of the tools include continuous updates.

If you have any issues with any of the elements of your subscription, technical support is available via chat or phone.

Secure this Microsoft 365 one-year subscription for just $44.97 (reg. $69) now through June 26.

StackSocial prices subject to change.

Sometimes taking that fatherly advice will pay off big time.

This was the case for one anonymous 38-year-old man from Wayne County, Michigan, who recently played the state’s Lotto 47 game and walked away with a $7.19 million prize — after heeding some bold advice from his dad.

“I have been playing Lotto 47 for a long time, and would always switch up my numbers,” the man told the Michigan Lottery, in a release. “One day, my dad told me I should pick a set of numbers and stick with them, so that’s what I did. I purchased an online subscription and have been playing the same set of numbers for a few years.”

Related: Maryland Man Wins Lottery Jackpot 15 Times on 15 Tickets

On May 22, he played the same numbers in the game that he had been told to stick to after purchasing a ticket online — 22-24-26-40-41-44.

To his disbelief, he received an email saying that he had won.

“I was in total shock and instantly thought how my dad had been right,” the man said. “It still hasn’t sunk in that I’m a millionaire!”

Related: A Woman Who Won $187 Million in a Lottery Severed Ties With Her Family After She Said They Became ‘Demanding and Greedy’

The anonymous player chose to receive his payout as a lump sum, which came out to roughly $4.9 million after taxes, with plans to invest the “surreal” amount of money and put some away in college funds for his children.

According to the Michigan Lottery, the May 22 win was the largest prize ever won through the state’s site, MichiganLottery.com.

Though this man publicly praised his dad’s strategy, not all lottery players have been as open with their family members about big wins.

Related: Father-Son Duo to Serve Time for $20 Million Lottery Scheme

An anonymous man who won a $22 million jackpot told Dave Ramsey on “The Ramsey Show” last fall that he and his wife never told his two children that he won.

“My wife and I made a conscious decision to just kind of keep it under wraps,” the anonymous caller explained. “We haven’t even told our two teenage children. And I know that sounds strange but we just don’t want them to grow up to be waiters, you know, waiting for us to die so they can get our money.”

Since Juneteenth was designated a federal holiday in the United States in 2021, governors, mayors and CEOs of major companies have followed suit and given employees the day off as a paid holiday.

Juneteenth, recognized annually on June 19, marks the anniversary of the day federal troops liberated the last enslaved people in Galveston, Texas, in 1884. That day, nearly two-and-a-half years after President Abraham Lincoln issued the Emancipation Proclamation, is recognized as the effective end of slavery in the United States.

Related: 21 Inspiring Quotes From Black Leaders From Throughout American History

Juneteenth is the first new federal holiday since 1983, with Martin Luther King Jr. Day being the last to be instituted.

When is Juneteenth recognized in 2024?

Juneteenth is Wednesday, June 19, 2024.

Who gets Juneteenth off as a paid holiday?

Juneteenth is now one of 11 federal holidays, joining Christmas and the Fourth of July. Federal organizations such as banks and public schools observe these holidays by giving employees the day off.

State vs. national regulations

Although Juneteenth was officially designated a federal holiday by the Biden administration in 2021, certain states and cities abide by their own regulations, with some having recognized the day as a state holiday well before 2021. New York, New Jersey, Virginia, Massachusetts, Pennsylvania, Washington, Oregon, Delaware, and Texas had all previously made Juneteenth a state holiday. When a holiday is recognized at the state level, all government employees and programs have the day off to observe. Private businesses and organizations determine their schedules.

Related: Here’s How Business Leaders Are Responding to the George Floyd Protests

These major companies have announced Juneteenth an annual company holiday

Big-name companies like Nike, Target and Best Buy are observing the day with either time off or extra pay.

Nike announced in 2020 that it would be recognizing Juneteenth as a paid federal holiday for all its U.S. and Puerto Rican employees. “Across our Nike, Converse, and Jordan family, we will close our corporate, retail, manufacturing and distribution operations in observance of Juneteenth to provide educational opportunities that honor Black history and culture,” said Nike director of communications for North America Jenna Golden in an email to NPR.

Ride-sharing app Lyft is honoring Juneteenth as a paid company holiday for all corporate employees. However, the policy doesn’t apply to Lyft drivers, who are independent contractors.

Related: More Companies Have Designated Juneteenth a Paid Holiday (Updated)

Zillow is also giving employees the day off for Juneteenth. “As part of our ongoing commitment to racial equality, Zillow observes Juneteenth as a paid company holiday, and encourages employees to take the day for reflection, volunteerism, education, and activism to commemorate the end of slavery in the U.S.,” Zillow vice president Kristina Adamski said in a statement.

Tech companies like Google have joined in making Juneteenth a paid company holiday. Google also hosted a company-wide “Juneteenth Day of Learning” prior to the day off in years past.

Certain retail corporations, such as Target and Starbucks, have opted to stay open but will pay employees time-and-a-half on Juneteenth.

Related: Walmart Juneteenth Ice Cream: Retailer Pulls Flavor From Shelves Amid Major Backlash

Amazon, meanwhile, has not yet made Juneteenth a company holiday but reportedly adopted an “anti-meeting approach” to the day and is offering a range of “online learning opportunities.”

Are the stock markets closed on Juneteenth?

The U.S. stock markets are closed on Wednesday, June 19, 2024.

Is the Post Office open?

U.S. Post Offices are closed and there are no business or residential USPS mail deliveries on Wednesday, June 19, 2024. However, reps told USA Today that Priority Mail Express is delivered every day of the year, including Sundays and holidays.

Are banks closed on Juneteenth?

As with most other government operations, banks are closed for Juneteenth.

Are grocery stores open on Juneteenth?

Most grocery stores and retailers, including Costco, Walmart, Target and Starbucks, are open on Wednesday, June 19, 2024.