December 2024

Have a question for ChatGPT but lack a Wi-Fi connection? OpenAI has introduced a new way to connect with its popular AI chatbot for U.S. users: Call 1-800-CHATGPT or 1-800-242-8478.

OpenAI announced the feature on Wednesday and demonstrated how it works through a YouTube livestream. OpenAI researchers called the number with everything from an iPhone to a flip phone to a landline. No matter the medium, the end output was the same: A female voice saying, “Hello again, it’s ChatGPT, an AI assistant. Our conversation may be reviewed for safety. How can I help you?”

In the live demo, ChatGPT helped identify landmarks that a researcher said he saw on a road trip. In another instance, it provided a different researcher with an English-to-Spanish translation so that she could greet a friend’s grandmother in Spanish.

The move to have ChatGPT available via phone call is part of the company’s goal to make AI “as accessible as possible to as many people,” OpenAI product lead Kevin Weil said in the demo video.

Related: After This 26-Year-Old Got Hooked on ChatGPT, He Built a ‘Simple’ Side Hustle Around the Bot That Brings In $4,000 a Month

Right now each phone number is limited to 15 free minutes of call time, with no disclosed plans to monetize the feature.

Only U.S. users get to call ChatGPT, but OpenAI also announced Wednesday that global users can access the chatbot by sending the 1-800-242-8478 number messages via WhatsApp. In the demo, ChatGPT offered a recipe for a pesto pasta dinner via WhatsApp and modified it to be vegan at the user’s request.

Both calling and messaging features involve talking to ChatGPT without creating an account.

The OpenAI team built this capability within a few weeks, according to Weil.

“They hustled really hard to ship it and it’s awesome to see it here,” he said.

The feature is one of many announcements that OpenAI has made as part of its “12 Days of OpenAI” event. Other new features released by the company under the same event include opening up ChatGPT Search for all users, free or paid, and releasing its text-to-video generator Sora to the general public.

Related: Is ChatGPT Search Better Than Google? I Tried the New Search Engine to Find Out.

Teams are more diverse than ever. With advancements in technology, a skilled labor shortage and the booming demand for remote work, work has come to defy borders. Companies that don’t embrace this reality and adapt risk being left behind.

I’ve witnessed this transformation firsthand through my work at DOXA Talent, where we help businesses build high-performing teams leveraging talent from across the world. With team members across the Philippines, Vietnam, Kenya and Colombia, I see how today’s technology and remote work are not just reshaping the future of business but also giving people equitable opportunities to earn a good living.

This journey has taught me meaningful lessons about creating a truly global culture. By blending different cultural perspectives while uniting everyone under a common mission and purpose, we’ve seen remarkable results. Our attrition rate is less than half the acceptable industry standard, and our teams consistently deliver outstanding service with an NPS of 82.

But the most important lesson I’ve learned is that when we put people first and maintain high standards, we create an environment where teams can truly thrive.

Here are five key strategies we’ve discovered for building a successful global culture that brings out the best in your international workforce.

Related: A Culturally Diverse Workforce Could Be a Boon to Your Business

1. Define your global culture

A global culture is fundamentally about creating a shared set of values, principles and practices that transcend geographical boundaries. To this end, DOXA prioritizes a few key values.

One of our most important values is curiosity, which drives us to learn about and appreciate the differences that make each culture unique while encouraging open-mindedness and new ways of working. The next is relationships matter. It’s about seeking to understand and accept our differences. This means honoring the unique traditions, perspectives and practices of every culture represented in our organization, building trust and fostering an environment where everyone feels valued. Understanding the experiences and needs of team members from different backgrounds helps us create meaningful connections and fair opportunities.

2. Recognize cultural differences

One of the biggest challenges in managing a culturally diverse workforce is navigating communication styles, decision-making processes and giving feedback. At DOXA, we recognize these processes are all shaped by cultural norms.

For example, team members in high-context cultures, such as the Philippines, often use indirect communication, while those in low-context cultures, such as the U.S., prefer directness. When it comes to feedback delivery, certain cultures are more to the point, while others tend to soften criticism. The decision-making process also reflects differences, as I’ve observed how some cultures favor egalitarian input and others rely on hierarchical structures. Differences extend to time management as well, with punctuality taking precedence in some cultures while others emphasize maintaining relationships over strict schedules.

Related: 3 Tips for Managing a Cross-Cultural Workforce

3. Build a framework for expectations

Something I’ve found highly helpful is defining our DOXA culture overview, a map per se, which expresses how everyone, regardless of background, is expected to show up within our global culture. This framework sets clear expectations for behavior, communication and decision-making that transcend cultural differences.

Our culture map helps all team members be aware of the cultural nuances that may impact interactions and adapt accordingly. For example, we encourage direct and respectful communication while remaining sensitive to cultural preferences. We also emphasize both relationship-building and accountability to balance task-oriented and relationship-based approaches. Ultimately, our framework is about integration: bringing out the best of every culture while aligning everyone under a common operation and purpose.

4. Adapt your leadership style

Leading a global team very well might require you to adjust your natural approach. I know I’ve had to adapt my style to fit the more reserved and relationship-focused cultures of our Philippine and Colombian teams. This means creating a safe space by asking more questions, listening actively and resisting the urge to jump in, solve or debate. That, in turn, gives others the opportunity to share their thoughts more comfortably.

As a leader, I’ve also adapted my communication style. I’ve had to temper the directness that comes instinctively to me with cultural sensitivity and invest in relationship-building to foster trust. It hasn’t always been easy, but finding ways to respect my team’s cultural differences while staying true to my strengths has been a successful formula.

Related: 3 Ways for Leaders to Embrace the Cultural Quotient

5. Embrace continuous learning

A final piece of advice to businesses looking to blend multiple cultures: Become a student. Seek out mentors who lead diverse teams and learn from their experiences. Study what other companies are doing — within and outside your industry — and take note of best practices you could leverage.

By continuously learning and staying open to new ideas, you can chart a thoughtful path forward. Also, approach this journey with humility. Remember that blending cultures doesn’t happen overnight. It’s a process of understanding, evolving and building a workplace where everyone feels valued and aligned with your company’s mission. Your ability to integrate diverse perspectives and life experiences can be the catalyst for winning in today’s competitive global market.

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I am going to say something mainstream or even old-school, but people in the business world consider portfolio stability the most important factor in investing. Is that the right move? If you are a rational investor with a long-term vision, the answer is most likely yes.

But let’s be honest: does it really matter how diversified your portfolio is if you can’t handle your emotions when the market starts crashing and your assets are losing value? Financial success is hard to achieve without emotional resilience (there are exceptions, sure). While diversification is a key tool for managing risk, an investor’s ability to stay emotionally steady is just equally important.

Staying calm is not only about keeping it together when things get rough; it is also about making thoughtful decisions when everything feels like it’s going off the rails. From my professional and personal experience, I have learned that mental resilience is a must. In many ways, it is what actually makes big money things work.

Related: How to Calm Financial Panic During Inflation Surges

Portfolio diversification does not guarantee peace of mind

Perfect diversification has been considered the platinum standard in investing practice. The simple magic behind this statement is that distributing assets across stocks, bonds, real estate or startups helps reduce risk.

When one little (or a big) part loses value, others remain stable or even gain, minimizing overall losses. And we — investors — love when potential risks are going down. This strategy is how business-related people deal with crises, political instability, and other uncertainties.

But here’s the catch: no amount of diversification will shield you from market turbulence. It is just not possible, period. During difficult economic uncertainty, even the most diversified portfolios face massive pressure.

The COVID-19 pandemic in 2020 is an example, as it hit multiple sectors at once. Even those who followed every diversification rule felt the pain. Some assets have recovered since then, while others are still struggling, but at the moment, everyone suffered.

That’s where emotional discipline should be highlighted. Investors who can’t control their emotions often damage their portfolios more than the market itself. Panic selling during a crash or overly optimistic buying at the peak are common mistakes that lead to avoidable losses. Diversification is worthless if you can’t use its advantages with a clear, steady mindset. That makes sense, right?

Related: How to Embrace Life’s Changes and Evolve Your Sense of Purpose

Emotional resilience is a soft skill we all need — but investors more than others

We’re all familiar with soft skills, right? Adaptability, communication and stress management — have become essential for success in business. But what if I told you that investing has its own set of soft skills? Yes, that would not be a surprise. However, one of the most critical is emotional resilience, a skill that plays a key role in decision-making.

Emotional resilience helps investors stay clear-headed, even during market turmoil. When markets are volatile, or a startup faces unexpected challenges, this skill allows you to maintain strategic focus and avoid panic. A calm mind leads to rational decisions — this is what seems logical to me.

Rather than reacting impulsively, an experienced investor uses this skill to analyze the situation and assess its impact on long-term goals. In theory, this approach prevents rash decisions and helps uncover opportunities where others see only risks. Surprisingly, when it comes to real practice, it works exactly the same.

The financial market is all about change — that’s an unshakable fact. Markets rise and fall, startups succeed or shut down, and even the most skillful players can be thrown off by chaotic headlines. In these moments, emotional control becomes the defining skill that separates successful investors from those who succumb to panic.

How do you develop this soft skill?

Emotional resilience is a soft skill, and that means it can and should be trained and cultivated. Here are a few simple methods I use to strengthen this soft skill every day:

• Create a clear plan. A detailed, well-thought-out strategy reduces uncertainty. When you and your team have a plan, you know what to do in any situation, making it easier to stick to your course. Make sure to have a plan B. C and D, as well.
• Learn to accept volatility as normal. Markets will always fluctuate — it’s just part of the game that we can’t change. Breathe! Accepting this as inevitable helps prevent emotions from controlling your decisions.
• Trust in diversification. If you’ve distributed your assets wisely, you already have built-in protection against significant losses. When markets get turbulent, remind yourself of this.
• Surround yourself with professionals. Working with financial advisors or experienced partners can help lighten the load. External advice often provides a more objective view of the situation.

Emotional resilience and diversification are complementary, traveling different paths toward the same goal. While diversification protects your portfolio from market risks, emotional resilience protects you from yourself. An investor’s health — both financial and psychological — is the foundation for long-term success.

In the end, investing is about staying confident in your decisions, even when everything around you suggests otherwise. Strengthening emotional resilience might just be the best investment you can make in yourself!

Federal Reserve officials cut the federal funds rate, or the borrowing rate that banks charge each other, by 25 basis points or 0.25% on Wednesday.

The central bank’s rate-setting committee, the Federal Open Market Committee (FOMC), announced Wednesday that the target range for the federal funds rate was now 4.25% to 4.5%.

Federal Reserve chair Jerome Powell said at a news conference following the decision that the move to cut rates this month was a “closer call” than previous cuts but ultimately the “right call.” He said the FOMC was balancing between two risks: undermining economic activity in the labor market and undercutting progress on inflation.

Related: Here’s What the CPI Report Means for Your Wallet, According to JPMorgan and EY Experts

The rate cut follows two preceding cuts, one of 50 basis points in September and another of 25 basis points in November. The September adjustment was the first time the FOMC lowered rates in four years.

^{Federal Reserve chair Jerome Powell. Photographer: Yuki Iwamura/Bloomberg via Getty Images}

Going forward, rate cuts aren’t certain. “In considering the extent and timing of additional adjustments to the target range for the federal funds rate, the Committee will carefully assess incoming data, the evolving outlook, and the balance of risks,” the FOMC wrote in a statement.

Dana Menard, CFP, founder and lead financial planner at Twin Cities Wealth Strategies told CNET that these cuts will affect shorter-term CDs and savings accounts, which “will likely fall by the same amount as the cut, with longer-term CDs and rates also being reduced.”

Will a rate cut affect mortgage rates?

A lower federal funds rate ripples out to lower borrowing costs for consumer-facing loans, like credit cards and personal loans. The purpose of adjusting the rate is to keep prices stable and respond to the labor market.

The 0.25% rate cut “will not have any impact on mortgage rates,” says Melissa Cohn, regional vice president of William Raveis Mortgage and a 40-year veteran of the mortgage industry. Rates as of Wednesday were 7.13% for a 30-year fixed mortgage.

Cohn told Entrepreneur in an emailed statement that “mortgage rates are data-driven, and if you look at the data, it doesn’t support much lower interest rates.”

Rates hovering around 7% is “sort of a new normal,” she said.

Related: Barbara Corcoran Says This Is the Interest Rate Magic Number That Will Make the Market ‘Go Ballistic’

Calixto Garcia-Velez, president and CEO at BanescoUSA in Miami told Bankrate that the 30-year mortgage rates are tied to the 10-year Treasury bonds, “and long-term Treasury bonds have been increasing,” which is why “residential loan rates haven’t been falling as much as people have expected.”

OpenAI has arranged a private stock sale for its staff with SoftBank Group that allows current and former employees to sell their stock to SoftBank at $210 per share, a source told Fortune on Tuesday.

The tender offer, or bid to purchase stock in a company, allows OpenAI employees who were issued stock more than two years ago (OpenAI was valued at nearly $20 billion) to cash in on the ChatGPT-maker’s enormous growth. After a $6.6 billion fundraising round this past October, the company’s new valuation stands at $157 billion, a nearly eightfold increase.

According to Fortune, SoftBank plans to buy up to $1.6 billion in stock from eligible shareholders. The tender offer’s $210 per share price reflects OpenAI’s $157 billion valuation.

Current OpenAI employees will be allowed to sell as much as $10 million worth of shares. If the deal is oversubscribed with more people participating than the $1.6 billion limit allows, current OpenAI employees will take preference over former staff members.

Related: Is ChatGPT Search Better Than Google? I Tried the New Search Engine to Find Out.

This means that former OpenAI employees may not be able to sell the full $10 million worth of stock under this tender offer. However, all current and former staff are guaranteed the ability to cash out at least $2 million worth of stock if they choose, under OpenAI’s rules.

The shareholders have until December 24 to decide if they want to sell their shares, and how many.

SoftBank first invested about $500 million into OpenAI in October.

OpenAI has over 2,000 employees, per Fortune. Data acquired by BI last week shows that salaries for 86 employees at the company under specialty visas ranged from $145,000 to $530,000.

Related: ‘Pressure Cooker’: Why Millionaire Nvidia Employees Are Still Working Until 2 A.M.

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Written by Amanda Eiden

My New Year’s resolution is to take my small business more seriously. Right now, I sell stickers of my art as a “side hustle,” but it’s my dream to take the gig full-time. Taking things to the next level means putting together a portfolio to showcase my best work and getting my paperwork in order. Here’s how I’m going to do it on the cheap.

I know Adobe’s Creative Cloud has some of the greatest document and design apps out there, but I can’t afford—and simply don’t need—all that. I’m going to use UPDF to create a portfolio and manage my contracts, invoices, and order forms since it’s only $47.99 for life with code HOLIDAY20 at checkout (reg. $59.99).

This is more than a PDF editor

When I first decided I wanted to create a design portfolio, I thought I could just use Office apps and save as a PDF…I was quickly mistaken. The design tools just aren’t made for that, and I quickly got frustrated.

With UPDF, I’m starting a new PDF file and laying out my best sticker designs. I can add images, text boxes, and annotations, and nothing moves when I don’t want it to. This is going to be an amazing asset to send to new clients.

Having a go-to document tool will be nice as well

I cannot count the number of times I’ve been sent a contract or form to sign or fill out, just to realize I have no way to do that. I usually scour the web for some “free” tool, but they always ask for credit card numbers—so I do a free trial to get out of it.

Now, I’m finally going to have a PDF editor for my business needs. And UPDF works on Windows, Mac, iOS, and Android, so I could finally take care of a signature without having to boot up my laptop.

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Ambitious goals have always been every entrepreneur’s driving force. They push you to dip your toes into unfamiliar waters before achieving serious growth. But even the boldest soldier won’t win a war without concrete plans, clarity and focus.

For over twenty years, I have been helping countless CEOs bring their big visions to life by combining personalized strategies with the right tools and resources. With the new year just around the corner, this challenge will only grow in importance.

Here’s how you can turn 2025 into a year of transformative progress.

Related: Every Entrepreneur Fails, But That’s a Good Thing. Here’s Why.

Breaking goals into milestones that matter

If you step back and look at the big picture, you’ll drown and start doubting. Break down your goals into smaller chunks. The ‘SCALEit Method’ is a great framework that has helped our clients turn their visions into actionable, more achievable plans. Here’s how it works:

Start with a clear vision. Be specific about where you want your business to be by the end of 2025. Your vision should inspire not only you but your entire team.

Next, align your goals with the five key pillars of growth: strategic vision, cash flow, team alignment, leadership and execution. Assess your progress in these areas every quarter. Identify the gaps and focus on the initiatives that will make the biggest impact.

But the magic happens when you break these goals into smaller pieces, and I’d like to call them the mile steps and the mini feats.

• Mile Steps: These are your major projects — the big moves that drive momentum.
• Mini Feats: These are the smaller actions that build up to those larger milestones.

This layered approach makes even the most ambitious goals feel manageable. And don’t forget to revisit your plan regularly. Quarterly check-ins keep you on track and provide an overview of what needs adjustment ahead of time. A great plan is never static. It’s a living, breathing guide that evolves with your business.

Why businesses stumble: The pitfalls to avoid

One of the biggest challenges in bringing your vision to life is diluted focus. While it’s natural for entrepreneurs to want to tackle everything at once, scattered attention just slows the overall progress. Choose a few high-impact priorities each quarter instead, and commit to seeing them through.

Another mistake I see is micromanaging. Often, business leaders see themselves as indispensable in every aspect of the business to ensure success. However, this just stifles your team’s creativity and significantly slows your business’s growth. Put the experts on your team into these initiatives, who have been doing it for the longest time. Empower them by providing resources so they can take ownership of their roles. Trust them to lead. You’ll be surprised by their capability and ingenuity.

And let’s not forget overcomplicating the plan. Some entrepreneurs associate complexity with security. It is not. You need to simplify your goals and make sure everyone on your team understands the “why” behind them. Make it clear and actionable, and avoid any extraneous details.

Related: Every Entrepreneur Fails, But That’s a Good Thing. Here’s Why.

What 2025 will demand from your business

Markets constantly evolve as demands continue to shift. I see 2025 as a bowl of exciting opportunities and challenges. They will put your leadership skills to the test. To stay ahead of the game, you’ll want to factor these trends into your new-year planning:

1. AI Is the new standard

The smartest businesses out there leverage AI as their secret weapon. It has helped business owners optimize their day-to-day operations and create more personalized experiences for clients. Don’t worry if you haven’t adopted AI yet. There’s still plenty of time to jump on the train.

2. Personalization builds loyalty

Customers’ expectations evolve with time. They expect great products and want experiences that feel tailored to them. They always look forward to personalized service, thoughtful touches, or meaningful interactions and businesses that prioritize human connection will see stronger retention and loyalty.

3. In-person experiences matter

Even in a digital world, nothing will ever replace the energy of face-to-face connection. High-impact events and community-building efforts will help businesses skyrocket in 2025.

4. Agility in supply chain management

Supply chain issues will never disappear. If anything, they will get more challenging as long as businesses exist. Agility is key here. You have to proactively diversify your business sourcing strategies to be better equipped to navigate disruptions.

5. Opportunities for acquisitions

2025 will be a strong year for acquisitions and public offerings. Now is the time to begin preparations if growth through acquisition is a part of your strategy.

Related: Goal-Setting Strategies and Actions to Take to Achieve Any Goal

Turn your vision into action

Every ambitious goal doesn’t come to life through one person alone — a strong team fulfils it through the right tools with exceptional strategies. Recognize and credit those who have supported you along the process — it takes a village to bring a vision to life. While leaders boldly take the first step, an empowered team ensures the momentum continues.

2025 is all about the businesses that are ready to shake things up. Whether you’re diving into AI or building stronger connections with your teams and customers, the future is bright for those who embrace change. This year is bursting with opportunities, but remember, success isn’t going to just come to your lap. Take on those wonderful opportunities and make sure your business is in sync with the future of the market.

Success isn’t just about what you achieve — 90% of it is your journey to achieving it. As you prepare for 2025, think big and act with intention. You’ve got everything you need to build a big future for your business; the only question is, “What will you create next?”