November 2024

Want to start a side hustle? More than half (54%) of Americans already have one, according to research from MarketWatch, but choosing one out of so many options can be overwhelming.

To keep it simple, plenty of side hustlers capitalize on skills they already have: cleaning, furniture assembly, TV mounting and just about anything in between.

Related: This Former Ph.D. Student Started a Side Hustle to Graduate Without Debt — Now He Makes $30,000 a Month and Can Complete a Job in 15 Minutes

Of course, starting a business from scratch isn’t easy, which is why many gig workers use third-party platforms, such as Thumbtack or Taskrabbit, to market their services and connect with customers.

Entrepreneur spoke with three people who built successful side hustles with Taskrabbit: Tom Saar, a former Starbucks employee with a moving business; Emely Cepeda, a dental student who offers cleaning and organizing services; and Dan Weiss, a retiree who assembles furniture.

Related: How to Start a Multi-Million Dollar Company, According to an IBM Engineer Turned Founder

Read on to learn more about their journeys and secrets to success on the platform:

Tom Saar runs a moving business with Taskrabbit

In late 2020, Saar moved from Sweden to the U.S. to pursue a computer science education. Saar settled in New York City and immediately noticed the abundance of moving trucks. After some research into the moving process revealed common pain points for customers, Saar saw an opportunity to start a business that did it better.

Related: This Former Starbucks Employee Started a Side Hustle That’s Making More Than $70,000 a Month — and He’s Not Done Yet

Saar joined various gig platforms to offer his moving services to customers, but Taskrabbit proved particularly lucrative: As of June 2024, Sarr had completed more than 1,000 tasks on the platform in partnership with other taskers and earned over $70,000 in gross revenue during April alone.

Saar’s success tip: “Communication with your clients should be high on the list of things to become more effective at. Clients don’t want to be kept in the dark. If you’re running late to an appointment, keep them informed. If something goes wrong, be generous with refunds or compensation. This builds strong customer relationships. Lastly, don’t be afraid to fail. Failures are inevitable, but how you take responsibility for them and learn from them will set you apart and help you grow.”

Emely Cepeda cleans and organizes with Taskrabbit

Cepeda was in her second year as a full-time dental student when she started looking for ways to earn extra money — and found Taskrabbit in August 2022. She wanted a gig that was flexible and without monthly quotas so she could focus on her courseload, and the platform provided just that.

Related: This 26-Year-Old Dental Student Spent $25 to Start a Side Hustle That Can Earn $500 for Just a Few Hours of Work: ‘There Is Nothing More Satisfying’

Cepeda launched her side hustle offering cleaning and organizing services on Taskrabbit. As of August 2024, Cepeda had earned more than $1,300 in one month with the side hustle — and as much as $500 a day for just a few hours of work, averaging $576 a month.

Cepeda’s success tip: “You can make a ton of money on Taskrabbit if you make the time and put in the work, like I have. I tend to work a lot around busy times of the year, too (like September move-ins, holiday seasons, etc.) because the need for Taskers is higher (and therefore I make more). Use your time and resources wisely, and you will be set up for success in the long run. Capitalize on the time you have and make the tasks you take worth it.”

Dan Weiss assembles furniture with Taskrabbit

Dan Weiss, 79, managed a number of residential mortgage branches for a major bank before he retired. When he read a newspaper article about a young woman making money on Taskrabbit, he was intrigued and decided to start a side hustle assembling furniture on the platform.

Related: This 79-Year-Old Retiree’s Side Hustle Earns $4,000 a Month: ‘I Work as Much or as Little as I Desire’

It took about four or five months for Weiss’s Taskrabbit side hustle to become profitable, but as of October 2024, he averaged $4,000 a month on the platform — all while working as much or as little as he desires.

Weiss’s success tip: “Be patient. Treat your clients with respect. Set your pricing according to your experience and customer base. Finally, do superb work and be respectful and caring.”

Expanding your franchise concept internationally is a challenging decision. It can offer tremendous growth opportunities beyond your current home market. However, doing so prematurely can put undue stress on your system as you try to replicate your U.S. operations for a culturally different demographic while also managing domestic expansion and support.

Before expanding to new international markets, ensure that your business concept is thoroughly developed, all intellectual property is registered and trademarked, marketing materials and manuals are translated, and you have a local team available in the targeted markets to assist with launching and troubleshooting.

Inexperienced franchisors should avoid rushing into international expansion without conducting thorough research and laying the proper groundwork. International units can be more challenging than domestic ones due to travel distances, language barriers and cultural differences. It’s essential to ensure that your products or services are needed or wanted in your target international market.

So, if it’s this challenging, why not just stick with growing domestic units and skip the international headaches? For one, the ability to introduce your products or services to new, untapped markets can be a significant revenue boost, especially if you’re running out of territories to develop domestically. Another plus is that many foreign consumer markets are eager for U.S. concepts. Best of all, American franchises are usually viewed as sound investments because of the proven systems and training they offer.

Related: This Industry Is Making More Money Than Hollywood and the Music Industry Combined — Here’s How Your Business Can Get Involved

Successful franchising always depends on tapping into expert advice and assistance, but nowhere is that more important than expanding into international markets. You need to engage with franchising and legal experts who specialize in international franchising and have knowledge of the countries you’re targeting. They will have a network of colleagues with intimate knowledge of the laws, regulations and political and business climate of the markets you’re exploring. Before you invest in an international program, these experts can help you narrow down the countries or regions where your concept will work.

Some other key considerations for international franchise expansion include:

• The all-important political and economic stability of the target county.
• The country’s franchise regulations or laws. Most countries have some form of business regulations to protect their citizens, but only a handful have specific franchise registration requirements that must be complied with.
• Assess the relative ease or complexity of bringing products into the country. You’ll need to set up appropriate logistics for certain proprietary items to get them there. Or, if you plan to source products locally, you’ll need local connections to help establish a reliable local supply chain.
• How the royalty and ad fund fees will be transferred back to the U.S. in an efficient manner. Remember, you’ll also be dealing with an exchange rate, transfer fees and local banking regulations.
• Being able to find the right partners who are financially equipped to expand your concept beyond one unit. Several different legal structures can be used, from directly granting a franchise to an individual or group to setting up a separate entity via a Master Franchise Agreement for each country, where your master franchisee grants the rights to individual franchises and supports those local franchise units.

  Once again, this is where your trusted advisors can advise you on the best structure for your concept and the country it’s in. Getting to know your partners is essential. You need to be comfortable with them as people and well-informed about their other partners and businesses they may own. Both parties need to follow transparency laws that require disclosure of all entities they are associated with, their owners and the people making the decisions. You need to know where the money is being invested in your concept.is coming from.

Side note: It also goes without saying that the same due diligence and expert support are needed when a concept comes from another country or region to the U.S. as they are for U.S.-based concepts going abroad. International franchisors will also need to find trusted local franchise advisors and lawyers to help them transition from a national or regional concept to an international one as they enter the U.S. market.

Where to expand first?

Canada has long been the first choice for many U.S. franchisors’ international expansion because of its proximity and because English is the first language for most of the country. But don’t be fooled into thinking Canadian culture and business environment don’t differ from the U.S. Similarly, Mexico is often the first foray for U.S. franchisors looking to expand into Latin America due to its geographic proximity, but language and cultural differences also abound.

For example, let’s say you’re expanding your concept to Latin America; not only does the Spanish in that region vary across countries, but it’s also important to be aware that Spanish is not the only language spoken in the region. In fact, in South America alone, the number of Spanish speakers exceeds that of Portuguese speakers by just a few million people.

Another example is that a franchisor looking to expand in the European Union cannot assume that a single approach fits all 27 member countries. In fact, the region has 24 official languages, and each country has its own culture and governing rules.

So, as part of the planning for international expansion, when preparing both your documents and your training materials, don’t rely on your high school foreign language skills or Google Translate. Not even the latest in AI is likely to be fully reliable in this case. This is when utilizing actual human resources in each market you’re expanding into is critical. They will know the regional vocabulary and the idioms used so that you don’t include embarrassing mistakes in your materials. The extra step in doing so is also a sign of respect; it shows you are culturally sensitive and professional.

Related: Tips and Strategies for Navigating Cultural Differences in International Business

It’s a small world

With advances in technology, including video conferencing, messaging apps, AI-powered communications tools, and more, the world is getting smaller, and the ability to bring services to people beyond your borders is, in many ways, easier than ever. There is financial as well as personal gratification in bringing your business to another culture, but it comes with an all-in investment of time and resources to do it right. International development is not something you can dabble in; it is a serious commitment.

Of course, as we’ve always been told, nothing worthwhile comes without hard work. That hard work must be supported by a team of experts, both internal and external to the franchisor organization, who can effectively implement a well-thought-out international game plan.

Everyone knows who Mike Tyson is. After all, he is a boxing legend. His mindset of determination, mental stamina and adaptability is a blueprint for business success as well as boxing. That’s why I’ve adopted his principles for my business.

Understanding how to use the same discipline, focus and resilience as Tyson can transform your business and give it a competitive edge. It did for me.

Related: 4 Things Entrepreneurs Can Learn From Mike Tyson

1. Focusing on the goal

Tyson was laser-focused on his goal to become the youngest heavyweight champion in the world. That and discipline led him to dominate the ring.

Focus is important to long-term business success. Entrepreneurs are constantly distracted by challenges and opportunities. Clear vision is necessary to ensure every decision, big or minor, gets you closer to your goals. Every aspect has to contribute to the bigger picture.

Focus makes it easier to ignore the noise and focus on what is important to your business’s success.

2. Thriving under pressure

Knowing how to thrive under pressure is as important to a business leader as it is to a boxer. Tyson adapted in the ring when the challenger put him under pressure. He faced unexpected moves but learned how to change his strategy to turn the match in his favor. It was a strength in his career.

Business leaders get into a rut of thinking there is only one way out of a situation when there are many. Look at all your possible strategies and change course.

Running a business has many hidden challenges and unforeseen events. Pivoting keeps you competitive. You must remain flexible in adopting and changing strategies, especially when what you’re doing isn’t working. Tyson is an example that survival and success come to those who are agile and change course when needed.

3. Turning a setback into a comeback

No one successfully avoids all setbacks. Tyson faced financial troubles, public backlash and personal problems that could have ended his career. He always found a way to rise when knocked down, both in and out of the ring. Resilience is what defines legendary boxers and entrepreneurs.

Businesses will go through various types of failures. It’s inevitable. A deal may fail or a strategy may not work. It can feel like everything is crumbling and your world is crashing. Yet, you can turn every setback into a comeback. It depends on how you view failure.

Failure doesn’t equate to an ending. It gives you a chance to learn and improve. You can come back with a better strategy. Being able to push through tough times is just as important as winning.

You can turn your failure or setback into a strength. It’s a matter of changing your perspective to see how it can ultimately benefit you. Once you do that, you can turn that into messaging that promotes your comeback.

Related: Your Lowest Moments Can Pave the Way for a Creative Rebirth. Here’s How to Master Setbacks.

4. Developing mental strength and discipline

Every success starts with the mind. Tyson has great physical strength. He was formidable in the ring. Yet, it was his mental strength that gave him the edge. He was dedicated to training, and that discipline, which starts with a mental decision, made him different from competitors.

It takes consistency and discipline for a business to push through difficult times. It may seem like nothing is working, but the decision to never give up and keep going until you see results will give you long-term success. You must stay mentally sharp, and I do that by creating daily habits that lay the foundation for my vision.

One habit that has helped me is to think ahead about my reaction to all the different scenarios that can occur in a specific situation. I imagine my plan B, C and D. I practice what I would say. The scenario may never happen, but I’m ready to react quickly if it does.

5. Believing in your strengths

Tyson knew he had all the abilities to win the match. He understood what they were and how to use them in the ring. Business leaders should also know their unique strengths and have the confidence to use them. Your strengths set you apart. How you leverage them to build your business depends on your confidence and creativity.

You may need to think outside the norm to figure out how to use your strengths to the biggest advantage. It may take a few experiments to find out the best way to use them. That’s okay. Tyson didn’t get the right strategy out of the gate either.

Playing to my strengths has been pivotal in my business. Identifying what I do best and honing those gifts helps me stand out in a crowded marketplace. Like Tyson, I don’t try to be like everyone else but focus on what makes me unique. I have skills and talents others don’t and consistently work to build my business around my core strengths.

6. Pursuing opportunities without fear

Tyson faced older, stronger and more experienced opponents when he started his career — yet, he was fearless. He drew courage from his belief in his abilities. Business leaders need fearlessness to pursue opportunities. Fear of failure can hold you back because it prevents you from taking a risk that could be a great catalyst for your business.

You can’t accept every risk. Every risk must be calculated and evaluated. Tyson evaluated the risk and made strategy decisions based on the perceived reward. I do the same whenever I face a bold decision. That helps me approach every decision with confidence and faith that it will work. You can win in business, but only if you step into the ring.

Related: 8 Sources of Strength Powerful Enough to Overcome the Fears Holding You Back

Mike Tyson’s attitude offers lessons to those seeking to improve their businesses. His mindset, emphasizing focus, discipline, adaptability, resilience and courage, can help every business leader. That mindset helps me set daily business goals. These attributes help me establish habits that make for a knock-out business strategy.

The housing market continues to be bleak, according to a new report from forecasting and quantitative analysis firm Oxford Economics.

Home prices have soared in every major metro area in the U.S. over the last five years and mortgage rates nearly doubled. This has led to housing affordability dropping “significantly” with only one-third of households in the U.S. earning enough to buy a house last quarter, according to the report.

Meanwhile, in June, home prices were 47% higher than listed in early 2020, per CNBC.

Related: You Have One Month Left to Buy a House, According to Barbara Corcoran. Here’s Why.

To afford a new, single-family home in the U.S. (including paying both property taxes and home insurance) in Q3 2024, a household needs to earn an annual income of $107,700—nearly twice the household income needed in Q3 2019.

What are the most affordable metro areas in the U.S.?

Many of the most affordable areas to live in the U.S. are in the Midwest, according to the report, where nearly two-thirds of households could afford median-priced homes with salaries of $64,600 to $75,300.

The top of the list includes Decatur, IL; Cumberland, MD; Youngstown, OH; Charleston, WV; and Elmira, NY. When it comes to major metro areas, Oklahoma City, Memphis, Cleveland, Louisville, Detroit, and St. Louis, were deemed most affordable.

Related: Home Prices Are Falling the Fastest in These 10 U.S. Cities

What are the least affordable U.S. metro areas?

The report found that most of the least affordable metro areas to live in the U.S. are in California (San Jose, San Francisco, Los Angeles, and San Diego all made the list), and Honolulu, Hawaii, where, the report notes, “fewer than 15% of households earned enough income to afford their respective housing costs in Q3 2024.”

San Jose was found to be the No. 1 least affordable, where median home prices hit $1.89 million in Q3 2024, per CNN. Residents there need an annual income of $461,000 to afford a home.

Toward the end of each year, we at Entrepreneur always wonder: What will be the hottest franchising trends in the year to come? To answer that question, we consider what’s trending in the world at large, what types of businesses we’re seeing launch new franchise programs, which types of existing franchises are experiencing growth, and more. All of those factors, along with our 40-plus years of experience covering the franchise industry, help us to come up with our annual list of the 10 categories we think have the most potential to thrive in the year ahead.

This year, we’ve chosen some food categories, as we always do — but specifically, we’ve zeroed in on categories that appeal to both franchisees and customers who are trying to keep costs down: Beverages, Chicken, and Desserts. Care is also a major theme in this year’s list, from Childcare to Senior Care, along with Mental Health and Autism Services. Pets also makes an appearance; it’s one of the longest-running categories on this list, consistently fueled by people’s love of (and willingness to spend on) furry friends. Rounding out this year’s list are Children’s Fitness, Home Improvement, and another frequently included category thanks to its resilient nature, Restoration.

The following pages contain information on more than 400 franchises within these trending categories, from established brands to brand-new ones. Inclusion on the list is not intended as a recommendation of any particular franchise. It’s always vital to do your own careful research before investing in an opportunity. Read the company’s legal documents, consult with an attorney and an accountant, and talk to existing and former franchisees to find out whether the brand is right for you.

Related: What You Really Need to Look for When Considering a Franchise

Beverages

Chicken

Childcare

Children’s Fitness

Desserts

Home Improvement

Mental Health & Autism Services

Pets

Restoration

Senior Care

Veterans make up around 6% of the U.S. population, but according to the International Franchise Association (IFA), they account for around 14% of all franchisees. Why are veterans so well-represented within the franchise industry? Because they’re a perfect fit for franchise ownership, thanks to their leadership skills, ability to follow established procedures, and familiarity with thinking on their feet and adapting to challenges. And many franchisors offer incentives such as franchise fee discounts that make it easier for veterans to start a business with them.

So which franchisors offer the best opportunities for veterans? Each year, we seek to find out by inviting brands to tell us what their veteran incentive is, how many of their units are veteran-owned, whether they hold any franchise giveaways for veterans, whether they have veterans on their leadership team, and more. We took all of those factors into account — along with each company’s 2024 Franchise 500 score, which is based on an analysis of 150-plus data points in the areas of costs and fees, size and growth, franchisee support, brand strength, and financial strength and stability — to come up with our final ranking of the top 150 franchises for veterans.

Keep in mind that our list is not intended as a recommendation of any particular company, but rather as a starting point for your own research. If you’re a veteran interested in franchise ownership, it’s important to do your homework before investing. Read the company’s legal documents carefully, consult with an attorney and an accountant, and talk to as many franchisees as you can to find out if the opportunity is right for you.

Related: 5 Business Lessons I Learned Working With Military Veterans

Meet a veteran franchisee…

Joan Follmann of Cruise Planners (No. 14)

Joan Follmann served in the U.S. Navy for 21 years, retiring in 2003 with the rank of Yeoman Senior Chief (YNCS) with the designation of Aviation Warfare Specialist (AW). Now she helps people plan their perfect vacations as a Cruise Planners franchisee.

Why did you choose to franchise with Cruise Planners?

My choice of Cruise Planners was deeply personal. My husband and I had been working with a Cruise Planners franchisee to book our own cruises, and the seamless experience we had with him built a strong trust in the brand. Quite simply, we never considered another company — it was Cruise Planners all the way.

How has your military experience helped you as a franchisee?

My role as a YNCS(AW) and Flag Writer in the Navy honed my organizational and multitasking abilities. Flag Writers are similar to civilian executive assistants. I was responsible for managing travel arrangements, appointments, and communications for admirals, all while anticipating challenges and setting priorities. These tasks translated perfectly into running a franchise, organizing complex itineraries, and maintaining clear communication with my clients.

What advice would you give to other veterans considering franchise ownership?

Look for a franchise like Cruise Planners that offers flexibility, support, and training. As veterans, we are already trained to follow procedures and protocols, making the transition smoother.

Jake Whitchurch of College Hunks Hauling Junk & Moving (No. 53)

Jake Whitchurch went from serving as an Airborne Infantryman with the U.S. Army, to working in corporate America, to now owning a College Hunks Hauling Junk & Moving franchise in Detroit.

What drew you to franchising?

I was working a corporate job and got moved into a role that I didn’t enjoy. I saw an ad asking veterans if they’d considered franchise ownership. I was intrigued by the idea of owning my own business, creating my own destiny, and helping others.

Why did you choose College Hunks?

Number one was the culture. This brand lives and breathes the values I’d always brought to my previous leadership roles — positivity, servant leadership, building leaders, and empowering employees.

How has your military experience helped you as a franchisee?

The day always starts calm and to plan. Then something can happen that changes the plan drastically, so the ability to make decisions on the fly based on the information we have and within the context of the mission without getting flustered is a tremendous skill to have.

What advice would you give to other veterans considering franchise ownership?

Do it! Take a risk on yourself. Find something that interests you, do your research, and make it happen.

Todd Pinkler of Voodoo Brewing Co. (No. 128)

After the events of September 11th, Todd Pinkler enlisted in the Marine Corps and served as a Reconnaissance Marine. Now he takes orders of a very different kind as owner of Voodoo Brewing Co. in Myrtle Beach, South Carolina.

What drew you to franchising?

A franchise has created its own policies and guidelines, much like the military. If you follow a franchise’s standard operating procedures, you have a great chance of being successful.

Why did you choose Voodoo Brewing Co.?

I stumbled upon Voodoo while preparing for retirement and was intrigued. I had several phone conversations with them and attended their approval day, where I was able to visit two different pubs and try the product. After that, my wife, a good friend, and I decided to take the leap.

How has your military experience helped you as a franchisee?

In the military, I realized that I do not have all the answers and that I must listen to those within my ranks who may have a better way to solve a problem. I’ve carried that same philosophy over to running my pub by listening to and implementing ideas from my employees.

What advice would you give to other veterans considering franchise ownership?

Figure out what interests and excites you and determine what your market needs (or doesn’t need).

Trae Caldwell of Metal Supermarkets (No. 130)

After 21 years in the Army National Guard, Trae Caldwell turned his sights to business ownership, choosing a Metal Supermarkets franchise.

What drew you to franchising?

I wanted to partner with an established brand that would help our business get started in the right direction. With franchising we had sales on day one!

Why did you choose Metal Supermarkets?

The business model made sense, and I already knew I enjoyed working with metal. I also saw the market gap for cut-to-size metal in my area. I was confident in their systems and support. Lastly, there is tremendous flexibility and autonomy in products and services you can offer through Metal Supermarkets. You get to create the “menu” — within reason, of course.

How has your military experience helped you as a franchisee?

The best experience the military gave me to prepare for entrepreneurship is effective and confident decision-making. Combining that with an unwavering commitment to “do the right thing” has been invaluable to developing our customer relationships.

What advice would you give to other veterans considering franchise ownership?

Ask a lot of questions of the franchisor, make sure you are comfortable with their process, and ensure you are confident in the business model and the products or services you will be offering.

Related: The 10 Hottest Trends in Franchising

LG has developed an industry-first stretchable screen that bends, twists, and stretches out like taffy, from 12 inches to 18 inches.

The screen is just a prototype, but it could have useful applications for wearables, cars, smartphones, and other industries in the future. For example, the flexible material could be used to make clothes and handbags.

LG showed off the screen on Friday at LG Science Park in Seoul, South Korea, to more than 100 onlookers. Its expansion rate of 50% is the highest in the industry, and it has a resolution of 100 pixels per inch. The screen gives full color.

^{LG screen. Credit: LG}

LG has been working on stretchy screens for years. In 2019, the company launched a TV with a screen that rolls away into the base when not in use. However, LG discontinued the 65-inch, $100,000 TV in May 2024 after slow sales.

In 2022, the company showed off a 12-inch display that could extend out to 14 inches. To create the screen, LG used a base silicon material like the one used for contact lenses. They layered micro-LEDs and circuits shaped like springs on top to create a screen capable of being twisted, stretched, and folded with no damage.

Related: Why the CEO of $2.5 Billion Smart Ring Startup Oura Says Apple Won’t Make Its Own Version

LG’s stretchable screens have already made an impact on the fashion industry. In September, the displays were seen on the runway at Seoul Fashion Week on the front of garments and bags designed by Youn-Hee Park and Chung-Chung Lee. The designers used the 12-inch screens that could stretch out to 14 inches.

“We have been able to design future fashion concepts with new materials that have never existed before,” Park stated in a press release.

^{One garment with a 12-to-14-inch stretchable screen embedded on the front. Credit: LG}

Related: Samsung’s Newest Galaxy Gadget Aims ‘To See How Productive You Can Be’

LG competitors are also working on flexible screens. In August, Samsung publicly showcased a prototype of a stretchable display for the first time. The microLED screen can stretch up to 125% of its starting size and has a resolution of 120 pixels per inch.

Samsung placed the screen on a smartphone and demonstrated how it could move to show the topography of a map. The screen could rise to show the presence of a mountain, for example.

Video content seems to be everywhere, and it’s hard to find a business that doesn’t use video in its daily operations in some way. Whether it’s for internal processes, social media marketing or a company’s website, video has become an essential part of how businesses communicate with their customers.

Yet, not every company can hire professional editors to handle this part of the job. But no worries; in a world where AI technology is advancing so fast, you don’t have to do so much manual video editing any more.

At my video editing company, we’ve discovered some great AI-driven solutions that your team can use to make their videos look professional. But what exactly does it mean to “make videos look professional,” and what tools can you use for that?

1. Cleaning up audio

Many businesses record video podcasts or interviews for their marketing purposes. One of the biggest challenges they face with these “talking videos” is managing the sound. Filler words like “um,” “ah,” pauses, or inconsistent speech patterns of the speakers can make the editing process extremely time-consuming. Different people talk at different speeds, and sometimes you’ll need to cut things out to make the content more engaging and smooth.

If you’re looking to make your videos more polished like that, focus on the sound. A great tool that can help with this is Adobe Podcast.

It automatically cleans up audio, removes those filler words and awkward pauses, and helps deliver clear, concise sound, especially for videos where people are talking a lot. With this tool, your social media managers or any other team members working with video can quickly improve its quality without advanced editing skills.

Related: 4 Pro Tips for Optimal Online Presentations

2. Reducing background noise

Another popular format that comes with its set of challenges is field interviews — conversations with people in the street. It’s a dynamic and engaging way to gather authentic insights, but there’s one common issue that can make your video feel more amateur.

That issue is background noise. Even the best microphones can sometimes fail, letting in unwanted sounds from the environment. In some cases, your microphone might stop working altogether, leaving you with audio full of background noise.

Waves can help clean up this noise and improve your audio quality. Simply upload your video to the platform, and let the AI work its magic. It removes unwanted background noise, leaving you with clear audio that makes your videos much more professional and enjoyable to watch.

Related: 8 Budget-Friendly AI Tools to Boost Your Marketing

3. Enhancing video quality

When it comes to the video itself, one of the most common frustrations is discovering the quality isn’t what you hoped for, especially after uploading it to the computer. This is often true for user-generated content or other footage shot by an amateur. You might find that some pixels are missing or certain sections appear blurry. Things get even worse when you upload the video to social media, as these platforms tend to compress the files, further reducing the quality.

To address this problem and improve the overall video quality, you can turn to video upscaling programs like Topaz Video AI. This tool analyzes your clips, predicts and reconstructs missing pixels to create a better resolution. By using Topaz Video AI, you can significantly improve the quality of your videos, making them more visually appealing and suitable for sharing on social media platforms.

4. Editing videos in multiple languages

You might also need AI when recording conferences your team organizes or conducting interviews with international colleagues. Often, such content is challenging to edit just because you don’t understand the language. As a result, these clips can end up as lengthy, 2-hour video speeches that don’t receive many views.

However, you don’t need to hire a translator; there’s a tool you can use to edit videos with international speakers, even if you don’t understand the language.

Subtitles Pro generates voice-to-text scripts in 35 different languages and translates them into English. With this tool, your team can understand what’s going on in the videos and know where to cut them correctly.

To sum up

Using AI tools can make a real difference in improving the quality of your videos and making them available to wider audiences. Besides, these tools will allow you to create professional-looking content without needing extensive resources, no matter if you’re making social media clips, conducting interviews, or recording video podcasts.

Elon Musk still wants “hardcore” workers, and it’s not just at X.

Landing a job at Tesla, where Musk is CEO, can be a difficult feat. The process takes months and can include “at least nine interviews,” a former recruiter told Business Insider.

Related: The Ex-Twitter Director Who Went ‘Hardcore’ for Elon Musk and Slept on the Floor of X’s Office Is Now Working at Meta

“The whole system is set up to find the fanatics,” a current Tesla worker with knowledge of the company’s hiring process told Business Insider. “They could get better pay somewhere else, but we want the people who are die-hard Tesla.”

As of June 2024, the company employs around 120,000 workers, per CNBC.

How much does Tesla pay?

The tough hiring process is also reflected in the company’s pay structure, which offers lower base salaries but larger stock grants than its competitors in the automotive and tech industries, according to the report.

Business Insider secured access to Tesla’s internal pay database (as of December 2021) and reviewed the salary data of nearly 100,000 employees.

The outlet used this information, public filings, and additional interviews with former Tesla workers to uncover the company’s pay structure.

Here’s a look at a handful of roles.

Click here for the full report.

Analyst

• Median base pay: $93,000
• Max base pay: $120,000
• Median stock grants: $20,000
• Max stock grants: $80,000
• Percentage with a stock grant: 88%

Associate QA Engineer

• Median base pay: $85,000
• Max base pay: $108,000
• Median stock grants: $30,000
• Max stock grants: $40,000
• Percentage with a stock grant: 68%

Senior Hardware Engineer

• Median base pay: $151,215
• Max base pay: $180,000
• Median stock grants: $55,000
• Max stock grants: $450,000
• Percentage with a stock grant: 67%

Related: Google Engineers Rake in Big Bucks with Base Salaries Up to $718,000, According to a New Report

Senior Manager Accounting

• Median base pay: $173,000
• Max base pay: $210,000
• Median stock grants: $65,000
• Max stock grants: $500,000
• Percentage with a stock grant: 100%

Senior Technical Program Manager

• Median base pay: $139,500
• Max base pay: $180,000
• Median stock grants: $45,375
• Max stock grants: $450,000
• Percentage with a stock grant: 86%

While some strategists say to “buy high, sell higher” on Nvidia stock, Terry Smith is staying away from Nvidia altogether.

Smith has been called Britain’s Warren Buffett; he manages the £22.8 billion ($29.33 billion) Fundsmith Equity Fund.

He has chosen not to invest in Nvidia, the world’s largest company with a market cap of over $3.5 trillion at the time of writing because he says consumers haven’t shown that they’re willing to pay for AI.

“I’m not confident that we know what the future of AI is because there are almost no applications people are paying for,” Smith told Bloomberg last week. “Will they be willing to pay on a sufficient scale and a sufficient price to justify this? Because if not, the suppliers of the chips are going to have a problem.”

Related: Nvidia’s Immense Market Power Is Worrying Investors — Here’s Why

A recent survey shows that people are unwilling to pay extra for AI processors and other hardware: 84% of over 22,000 PC users surveyed in May by TechPowerUp said that they would not pay more for hardware with AI features.

Yet another data point shows that users are willing to pay for AI products in some cases. Over 11 million people are opting to pay for ChatGPT; an August report estimates that OpenAI makes an estimated $3.4 billion in annual revenue from ChatGPT subscriptions.

Nvidia CEO Jensen Huang has stated that he personally pays for ChatGPT and uses it as a personal tutor.

^{Nvidia CEO Jensen Huang. Photo by Chip Somodevilla/Getty Images}

Smith’s decision to not invest in Nvidia has caused his fund to miss out on Nvidia’s high returns. The Fundsmith Equity Fund saw a 9.3% return between January 1 and June 30; it underperformed compared to the MSCI World Index, which made 12.7% over the same six-month period.

Smith said that it was “difficult” to reach the MSCI World Index return without owning Nvidia, but defended his stance to stay away from the stock: “We do not own any Nvidia as we have yet to convince ourselves that its outlook is as predictable as we seek,” he wrote at the time.

Fundsmith Equity has a stake in other tech stocks, including Apple, Meta, and Microsoft.

Related: Nvidia Was Once 30 Days Away From Going Out of Business. Here’s Why It Just Overtook Apple to Become the World’s Biggest Company.

While Smith may have his reasons for not investing in Nvidia, the company remains one of the world’s most sought-after AI chip suppliers, with anywhere from 70% to 95% of the AI chip market. Huang spoke recently about the “insane demand” the company faced when it came to its latest Blackwell AI chip.

“Everybody wants to have the most, and everybody wants to be first,” he stated last month.

Nvidia is one of the “Magnificent Seven,” a group of tech stocks that also includes, Amazon, Apple, Meta, Microsoft, Google, and Tesla.

Nvidia is not only a part of the Magnificent Seven, but many members of the group are also clients: Amazon, Meta, Microsoft, and Google are responsible for more than 40% of Nvidia’s revenue.

Related: How Nvidia CEO Jensen Huang Transformed a Graphics Card Company Into an AI Giant: ‘One of the Most Remarkable Business Pivots in History’