June 2025

Bumble Is Cutting Almost One-Third of Its Global Staff

Bumble Is Cutting Almost One-Third of Its Global Staff


Dating app company Bumble is laying off 30% of staff, or nearly one in three employees.

In a U.S. Securities and Exchange Commission filing submitted earlier this week, Bumble disclosed that it was reducing its global workforce by approximately 240 roles in the latter half of the year.

The company expects to spend $13 million to $18 million on severance payments and benefits for impacted employees. However, the layoffs will result in up to $40 million in annual cost savings, the company claims. According to the filing, Bumble intends to reinvest “the substantial majority of these savings” in initiatives like “product and technology development.”

The last time Bumble had a round of layoffs was in January 2024, when the company reduced its workforce by around 30%, or 350 employees at the time.

Related: Bumble Founder Whitney Wolfe Herd’s Daily Routine: 5 A.M. Wake-Ups and Dialing Into Meetings After Dropping Her Son Off at School

Bumble shares were up over 20% following the news of workforce reductions.

Also in the filing, Bumble increased its revenue forecast for the current quarter. The dating app company updated its second-quarter revenue forecast to a range of $244 million to $249 million, up from the previous prediction of $235 million to $243 million.

The layoffs arrive months after Bumble founder Whitney Wolfe Herd returned to the company as CEO. Wolfe Herd founded the app in 2014 and served as CEO from January 2020 to January 2024. Lidiane Jones, who was previously the CEO of workplace messaging app Slack, took over as CEO of Bumble from January 2024 to March 2025 before stepping down for “personal reasons.” Wolfe Herd stepped back in, rejoining the company as CEO in March.

“Bumble needs me back,” Wolfe Herd said in an interview last month with The New York Times. “Watching it fall from its peak has been very hard.”

Related: Former Youngest Self-Made Billionaire Surprises Employees With Full Week Off

Bumble went public in 2021. Its market value has plummeted from $7.7 billion in early 2021 to about $661 million at the time of writing. Low user retention and fewer paying users have led to decreased revenue, causing the app to decline, per Business Insider.

Bumble CEO Whitney Wolfe Herd. Photographer: David Paul Morris/Bloomberg via Getty Images

Last month, Bumble released its most recent earnings report for the first quarter of the year. The report was disappointing: total revenue decreased 7.7% year-over-year to $247 million, with Bumble app revenue dropping 6.5% to $202 million, and Bumble app paying users decreasing 1% to 2.7 million users.

Wolfe Herd reassured investors in the report that Bumble is on “an accelerated path to return to sustainable, long-term growth” with “more quality and relevant matches” for users.

“Our path forward is clear,” Wolfe Herd stated in the report.

Dating app company Bumble is laying off 30% of staff, or nearly one in three employees.

In a U.S. Securities and Exchange Commission filing submitted earlier this week, Bumble disclosed that it was reducing its global workforce by approximately 240 roles in the latter half of the year.

The company expects to spend $13 million to $18 million on severance payments and benefits for impacted employees. However, the layoffs will result in up to $40 million in annual cost savings, the company claims. According to the filing, Bumble intends to reinvest “the substantial majority of these savings” in initiatives like “product and technology development.”

The rest of this article is locked.

Join Entrepreneur+ today for access.



Source link

Bumble Is Cutting Almost One-Third of Its Global Staff Read More »

Don’t Let Someone Steal Your Startup Idea

Don’t Let Someone Steal Your Startup Idea


Opinions expressed by Entrepreneur contributors are their own.

Every entrepreneur has had that moment of inspiration, when an idea begins to take shape. Maybe it’s a new product, a clever app, a unique service model, or even just the perfect name for your business. It’s an exhilarating feeling. But here’s the catch: ideas are easy to admire and even easier to copy — unless you know how to protect them.

As the CEO of an international franchise brand, I’ve had a front-row seat to what happens when innovation meets reality. Over the years, I’ve watched businesses soar because they locked down their intellectual property, and I’ve seen others struggle when they didn’t. So let me walk you through what I’ve learned along the way, not as a lawyer (because I’m not one), but as someone who’s built a company where protecting innovation isn’t just smart, it’s survival.

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

What Is intellectual property (IP)?

Think of intellectual property (IP) as the secret sauce behind your business. It’s the name you came up with in the shower. It’s the quirky logo that somehow just works. It’s your proprietary method for getting something done better, faster, or smarter than everyone else. And it deserves protection just as much as any brick-and-mortar storefront.

There are several primary ‘flavors’ of IP, each serving a distinct purpose. A trademark protects your brand identity: your business name, logo, tagline, and possibly even a jingle if you’re feeling particularly creative. Copyrights cover creative stuff: that killer blog post, your instructional videos, your software code. Patents? Those are for inventions, big or small, from rocket fuel to the rubber spatula. And trade secrets? Well, those are the hush-hush techniques and processes you don’t want to leave your inner circle. Think grandma’s cookie recipe or a franchise brand’s proprietary training manual.

Related: ‘Send a Man Next Time’: How an Entrepreneur and Her Daughters Built a $2.5 Million Franchise in a Male-Dominated Field

Why IP is everything

I get it. When you’re launching or scaling a business, your to-do list is a mile long. But here’s the thing: ignoring intellectual property can come back to bite you. I’ve seen businesses spend years building a recognizable brand, only to discover someone else trademarked the name first. I’ve seen marketing content borrowed by competitors and product ideas replicated without a second thought. It’s not just unfair, it’s expensive.

In the world of franchising, intellectual property is everything. Our proprietary technologies and systems, training programs and digital tools form the blueprint for franchisees across the country. Without explicit protections in place, none of it would work. A franchise is only as strong as the brand behind it — and a brand is only as strong as its IP.

You don’t need to be running a franchise to feel the impact. Maybe you’re a startup founder pitching to investors. If you’ve got a solid product and no IP protection, it’s a red flag. Maybe you’re launching a wellness brand on Instagram. If your logo isn’t trademarked, you could be asked to change it after you’ve already printed materials and built a website.

Related: How I Survived My First Crisis as a CEO — And Rebuilt From Zero

How to protect your ideas

Now, before you start spiraling, let me say this: you don’t need to figure it all out today. But you do need to start thinking like the owner of something valuable, because you are. Begin by researching whether your business name is already in use. If it’s available, investigate trademarking it. If you’ve invented something original, talk to a patent attorney. If you’re creating content, ensure that you keep accurate records and understand the basics of copyright. And if you’ve got a secret recipe or an algorithm that drives your business, treat it like gold: secure it, limit access and have team members sign confidentiality agreements.

Most importantly, get help. IP law is nuanced and while I can speak to it from a business perspective, I can’t offer legal advice. (Here’s the official disclaimer: I’m not a lawyer. Always consult with a qualified intellectual property attorney to protect your unique business assets adequately.) What I can say is that making this a priority early on can save you time, money, and stress in the long run.

Entrepreneurship is a journey of building, brick by brick, idea by idea. But if you don’t guard what you’ve built, someone else might swoop in and stake a claim. That’s not just frustrating, it can be devastating to everything you’ve worked for.

At Anago Cleaning Systems, we’ve spent decades fine-tuning our business model and safeguarding the intellectual property that drives it. It’s one of the reasons we’ve been able to grow, franchise, and innovate with confidence. You don’t need to build a global franchise to benefit from that same protection. You simply need to treat your ideas as valuable assets, and take steps to protect them accordingly.

Because in the world of entrepreneurship, the idea is just the beginning. How do you protect it? That’s what turns it into a business.

Related: Use These 4 Storytelling Strategies to Grow a Loyal Following

Adam Povlitz is CEO & President of Anago Cleaning Systems, an international franchise brand specializing in commercial cleaning. The views expressed here are based on business experience and do not constitute legal advice. For matters of intellectual property, always consult a licensed legal professional.

Every entrepreneur has had that moment of inspiration, when an idea begins to take shape. Maybe it’s a new product, a clever app, a unique service model, or even just the perfect name for your business. It’s an exhilarating feeling. But here’s the catch: ideas are easy to admire and even easier to copy — unless you know how to protect them.

As the CEO of an international franchise brand, I’ve had a front-row seat to what happens when innovation meets reality. Over the years, I’ve watched businesses soar because they locked down their intellectual property, and I’ve seen others struggle when they didn’t. So let me walk you through what I’ve learned along the way, not as a lawyer (because I’m not one), but as someone who’s built a company where protecting innovation isn’t just smart, it’s survival.

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

The rest of this article is locked.

Join Entrepreneur+ today for access.



Source link

Don’t Let Someone Steal Your Startup Idea Read More »

LGBTQ Couple Started a Business With 80 Goats, See 0M+ Sales

LGBTQ Couple Started a Business With 80 Goats, See $150M+ Sales


In 2006, Josh Kilmer-Purcell and Brent Ridge didn’t have visions of becoming entrepreneurs with a goat milk skincare and body care brand. The New York City-based couple went on an apple-picking getaway upstate one weekend and stumbled on a little town called Sharon Springs. They fell in love with the town, and on their drive out, with a property for sale: Beekman Farm, its house built in 1802.

Image Credit: Courtesy of Beekman 1802. Josh Kilmer-Purcell, left, and Brent Ridge, right.

Kilmer-Purcell and Ridge were far from professional farmers — Kilmer-Purcell worked in advertising, and Ridge was a physician who’d started the health and wellness division of Martha Stewart Omnimedia — but they thought the farm would be the perfect weekend place, so they cashed in their savings and purchased the property.

Not long after they moved in, they received a note from their neighbor, a farmer named John, who was losing his farm and had no place for his 80 goats. Would the couple mind moving the animals into the empty barn on their property? They agreed and invited John to live in a small cottage on the farm and be its caretaker.

Related: This Founder Noticed a Stark Change at a Local Pride Parade — and Says It Creates a ‘Real Opportunity’ for Small Businesses

“Everything was great,” the co-founders recall. Then the 2008 recession hit.

“We lost our jobs within 30 days of each other, and we had this new mortgage — we had to pay [off] the farm,” Kilmer-Purcell says. “So we literally Googled, ‘What can we make with goat milk?’ And the first thing that came up was goat milk soap.”

The co-founders note that while many entrepreneurs today start a business with the goal of eventually selling it, that was the furthest thing from their minds when they launched their brand in 2009 — they were “just trying to survive.”

“ I remember calculating that if we sold $80 worth of soap a day, that would be enough to pay the mortgage for that month,” Kilmer-Purcell says, “so some nights we’d be sitting there at like 10 p.m. in bed being like, ‘Come on, just one more order. Come in.'”

Now, Beekman 1802 has sold more than 60 million bars of that soap and surpassed $150 million in sales. Beekman 1802 sells its premium skincare and body care products via its website, QVC, Ulta Beauty, Amazon, Target, the LaGuardia Airport Kindness Shop, its flagship mercantile in Sharon Springs, independent retailers and more.

Related: The ‘Hustle’ He Started Out of His Station Wagon Became a Nationwide Business That’s About to Hit $300 Million: ‘Everything We Do Is Pretty Simple’

Kilmer-Purcell and Ridge have also published three cookbooks, and their first business book, G.O.A.T. Wisdom: How to Build a Truly Great Business, will be released on July 1.

Image Credit: Courtesy of Harvard Business Review

“We started selling the bars of soap on our website.”

One of the first steps was to build a website for the brand; back then, direct-to-consumer (DTC) sales were just starting to gain traction.

“ We were one of the very first beauty brands to be DTC,” Ridge says. “Josh learned how to code. He coded the first website, [and] we started selling the bars of soap on our website. But back then, of course, you were not going to make a fortune off of selling stuff on a website. It just wasn’t the environment.”

The co-founders wanted to take their all-natural, goat milk soap product where it had never been before — the luxury retail space. So Ridge cold-called luxury department stores on Fifth Avenue in New York City: Bergdorf Goodman, Barneys New York, Saks Fifth Avenue and Henri Bendel.

The buyer at Henri Bendel told Ridge that if he could commit to coming to the store every day for the next eight weeks ahead of the holiday season, the retailer would give them a three-foot by three-foot table on its main floor, where the brand could engage with the customers. If the product was a hit, then the store would stock its products going forward.

 ”So that’s what I did,” Ridge recalls. “I would get up every morning at the farm. It’s about a three-and-a-half-hour drive from the city. I would bring in all the soaps. I was set up on the little table. I would stay until closing at 8 or 9 p.m., drive all the way back three-and-a-half hours to the farm. I did it every day for eight weeks.”

Related: There Are Three Types of ‘No,’ Says the World’s Leading Door-to-Door Sales Expert. Here’s How to Know Which One You’re Hearing

As a physician and scientist, Ridge admits he didn’t know much about how to sell a product back then. However, through exposure to other salespeople on the floor and “osmosis,” he figured out how to do it effectively. Another major breakthrough came during that time: A buyer for Anthropologie stopped by on a scouting mission and “fell in love” with Beekman 1802’s story.

“That’s how we got our first big order,” Ridge recalls. “Our first big break was going national with Anthropologie.”

“[Reality TV] helped us grow a really loyal, manageable fan base quickly.”

For the first decade of the company’s growth, Beekman 1802 didn’t take any outside funding. The co-founders were committed to starting the business the “old-fashioned way,” not “spending $1 until they’d made $1.50,” in the wake of a recession where financial institutions had let so many people down.

As a result, the entrepreneurs didn’t have the money to market their brand in the early days. Well-aware of the value of media, Kilmer-Purcell and Ridge seized every opportunity to get Beekman 1802 in front of an audience, from local news programs to blogs.

Then the co-founders had the exciting and unexpected opportunity to star in their own reality TV show. Kilmer-Purcell was interviewing for a creative director position at a network when the president told him that she didn’t know if he was right for the job — but would he and Ridge consider appearing in a reality TV show about their life on the farm and launch of their business?

Related: What the C-Suite Needs to Know About the True Power of Earned Media

The co-founders embraced the opportunity to generate awareness for their brand, and within five months, The Fabulous Beekman Boys was airing.

“It helped us grow a really loyal, manageable fan base quickly,” Kilmer-Purcell explains. “But we weren’t distracted [by] becoming reality TV stars and trying to get another show and another show. It was just a really good free commercial that helped us start the business.”

The Fabulous Beekman Boys ran for two seasons, and although the co-founders weren’t seeking out more reality TV opportunities after it wrapped, another one came to them after a serendipitous encounter at one of their book signings: The chance to compete on CBS’s The Amazing Race.

The Amazing Race story was so authentic to the brand that it was a multiplier.”

It was 2013, and Kilmer-Purcell and Ridge figured that even if they only made it halfway through the competition, the number of viewers tuning in would bring the Beekman brand significant exposure. In the first episode, they introduced themselves as “The Beekman Boys” to get the ball rolling and make sure “that was always what people would hear.”

“We were the underdogs the whole season,” Ridge recalls. “We were two middle-aged gay guys. We’re not going to beat the athletes and younger people. In the third or fourth leg, we were in Indonesia and thought we were going home. It was like 120 degrees; we had been struggling the whole day and were trying to finish up this task, carrying 100 pounds of bamboo and thought we were pulling up last. So we thought, You know what? Let’s just make the most of this.”

The couple happened to be walking down a street where a school was letting out; with a lot of kids around and curious about the camera crew, Ridge started chanting “Beekman Boys,” and the crowd joined in. “We just thought, Oh, what a great way to go out of The Amazing Race,” Ridge says.

Then the co-founders pulled off something they’d never expected: They won the entire race. Before the win, Beekman 1802 received about 100 orders per day on its website. Immediately after, that number surged to thousands.

“What was great about the fact that we were always in last place and called the ultimate underdogs the entire race [was that] it fit in with our founder’s story: having lost our jobs and starting on the farm, two gay New York City guys in a small town in rural New York and starting with nothing,” Kilmer-Purcell says. “The Amazing Race story was so authentic to the brand that it was a multiplier.”

Image Credit: Courtesy of Beekman 1802

Related: How to Scale a Business Without Wasting Millions (Or Collapsing Under Your Own Growth)

Beekman 1802’s next big growth milestone came shortly after the co-founders’ success on The Amazing Race when the brand launched on TV retail. The entrepreneurs recognized the platform’s potential to tell Beekman 1802’s story and sell its products, but they knew they had to come up with a hook to halt viewers in their tracks.

So the couple opted to bring baby goats on air.

“It’s disruptive,” Ridge explains, “and makes you stop. If you get people’s attention, then you have a much higher likelihood of selling something. That was a real trick that we still use to this day. Now we’re the No. 1 skincare brand that crosses QVC and HSN.”

Beekman 1802 continued to scale, landing in Ulta Beauty, Target and Amazon. The brand’s Ulta rollout, set for approximately 1,500 stores, coincided with the pandemic and led the co-founders to seek their first outside investment for the company.

Eurazeo, a leading global investment group, acquired a controlling stake in the company with a $62 million investment in 2021.

“You have to go back to the fundamentals of what it takes to build a great brand.”

The co-founders have learned a lot growing their business over the years. Although they enjoy watching Shark Tank, the TV show where hopeful entrepreneurs can pitch their business ideas to the judges for potential investment, they warn aspiring founders not to fall for what they call “the Shark Tank effect” — the belief that they can’t start a business without raising money.

 ”What we found is businesses that start their life by raising money never actually become businesses,” Kilmer-Purcell says. “They just become fundraising businesses because they start by raising money and then a few months later, they raise more money, and then they have to raise more money — and they get better at raising money than running their own business.”

Seeing that pattern play out motivated the entrepreneurs to write G.O.A.T. Wisdom and share the lessons they’ve learned with the world.

“There are plenty of ways to have a good business where you can make money,” Ridge says, “but if you want a great business that’s going to have legacy and last, you have to go back to the fundamentals of what it takes to build a great brand.”

According to Ridge, ignoring trends is one key to success in the skincare and body care space, as copycat products will find it difficult to stand out in a market saturated with similar offerings.

“The world doesn’t need another vitamin C cream,” Ridge explains. “There are already a thousand vitamin C serums out there. What is the true innovation? How are you going to bring something new to customers that’s going to improve their lives?”

Related: Your Innovation Won’t Succeed Without Authentic Demand. Here’s How to Find It

The original act of kindness that came with the opportunity to host Farmer John and his goats remains Beekman 1802’s driving force, the co-founders say.

The company has donated hundreds of thousands of dollars in product and financial support to hundreds of worthy causes. The brand has also established a Kindness Krew: a community of skincare content creators and community influencers who are “passionate about spreading kindness to skin, animals, community and the planet.”

 ”Selling the product is the next level down,” Ridge says, “because we know that if we are successful in spreading kindness, then the product will have more value to [people].”



Source link

LGBTQ Couple Started a Business With 80 Goats, See $150M+ Sales Read More »

Federal Judge: Anthropic Acted Legally With AI Book Training

Federal Judge: Anthropic Acted Legally With AI Book Training


A federal judge ruled for the first time that it was legal for $61.5 billion AI startup, Anthropic, to train its AI model on copyrighted books without compensating or crediting the authors.

U.S. District Judge William Alsup of San Francisco stated in a ruling filed on Monday that Anthropic’s use of copyrighted, published books to train its AI model was “fair use” under U.S. copyright law because it was “exceedingly transformative.” Alsup compared the situation to a human reader learning how to be a writer by reading books, for the purpose of creating a new work.

“Like any reader aspiring to be a writer, Anthropic’s [AI] trained upon works not to race ahead and replicate or supplant them — but to turn a hard corner and create something different,” Alsup wrote.

According to the ruling, although Anthropic’s use of copyrighted books as training material for Claude was fair use, the court will hold a trial on pirated books used to create Anthropic’s central library and determine the resulting damages.

Related: ‘Extraordinarily Expensive’: Getty Images Is Pouring Millions of Dollars Into One AI Lawsuit, CEO Says

The ruling, the first time that a federal judge has sided with tech companies over creatives in an AI copyright lawsuit, creates a precedent for courts to favor AI companies over individuals in AI copyright disputes.

These copyright lawsuits rely on how a judge interprets the fair use doctrine, a concept in copyright law that permits the use of copyrighted material without obtaining permission from the copyright holder. Fair use rulings depend on how different the end work is from the original, what the end work is being used for, and if it is being replicated for commercial gain.

The plaintiffs in the class action case, Andrea Bartz, Charles Graeber, and Kirk Wallace Johnson, are all authors who allege that Anthropic used their work to train its chatbot without their permission. They filed the initial complaint, Bartz v. Anthropic, in August 2024, alleging that Anthropic had violated copyright law by pirating books and replicating them to train its AI chatbot.

The ruling details that Anthropic downloaded millions of copyrighted books for free from pirate sites. The startup also bought print copies of copyrighted books, some of which it already had in its pirated library. Employees tore off the bindings of these books, cut down the pages, scanned them, and stored them in digital files to add to a central digital library.

From this central library, Anthropic selected different groupings of digitized books to train its AI chatbot, Claude, the company’s primary revenue driver.

Related: ‘Bottomless Pit of Plagiarism’: Disney, Universal File the First Major Hollywood Lawsuit Against an AI Startup

The judge ruled that because Claude’s output was “transformative,” Anthropic was permitted to use the copyrighted works under the fair use doctrine. However, Anthropic still has to go to trial over the books it pirated.

“Anthropic had no entitlement to use pirated copies for its central library,” the ruling reads.

Claude has proven to be lucrative. According to the ruling, Anthropic made over one billion dollars in annual revenue last year from corporate clients and individuals paying a subscription fee to use the AI chatbot. Paid subscriptions for Claude range from $20 per month to $100 per month.

Anthropic faces another lawsuit from Reddit. In a complaint filed earlier this month in Northern California court, Reddit claimed that Anthropic used its site for AI training material without permission.

A federal judge ruled for the first time that it was legal for $61.5 billion AI startup, Anthropic, to train its AI model on copyrighted books without compensating or crediting the authors.

U.S. District Judge William Alsup of San Francisco stated in a ruling filed on Monday that Anthropic’s use of copyrighted, published books to train its AI model was “fair use” under U.S. copyright law because it was “exceedingly transformative.” Alsup compared the situation to a human reader learning how to be a writer by reading books, for the purpose of creating a new work.

“Like any reader aspiring to be a writer, Anthropic’s [AI] trained upon works not to race ahead and replicate or supplant them — but to turn a hard corner and create something different,” Alsup wrote.

The rest of this article is locked.

Join Entrepreneur+ today for access.



Source link

Federal Judge: Anthropic Acted Legally With AI Book Training Read More »

Nvidia CEO Starts Selling Stock, 5M By End of Year

Nvidia CEO Starts Selling Stock, $865M By End of Year


Nvidia CEO Jensen Huang, 62, has begun selling Nvidia shares under a new trading plan that allows him to dispose of up to $865 million worth of stock by the end of the year.

According to a Monday filing with the Securities and Exchange Commission, Huang offloaded 100,000 Nvidia shares, worth $14.4 million, between Friday and Monday, his first sale of the year. Another filing shows that Huang sold another 50,000 shares on Monday, valued at over $7 million.

The transactions fall under a new 10b5-1 plan adopted on March 20 and disclosed last month in Nvidia’s quarterly report. The plan allows Huang to sell six million shares in total by December 31, which would equal $865 million worth of shares at Monday’s closing price of $144.17.

Related: ‘The Decade of Autonomous Vehicles’: Nvidia CEO Predicts Major Growth in Robotics, Self-Driving Cars

Nvidia’s quarterly report also revealed that the company’s Chief Financial Officer, Colette M. Kress, and its Director, A. Brooke Seawell, also adopted 10b5-1 plans in March. Kress has the option to sell 500,000 Nvidia shares by March 24, 2026, and Seawell can sell over 1.1 million shares by July 31.

Huang’s trading plan gives him and other executives the option to cash in on stock on a pre-arranged plan. Huang has sold more than $1.9 billion in Nvidia shares to date, per Bloomberg.

Nvidia co-founder and CEO Jensen Huang. Photo by Chesnot/Getty Images

Huang is the 12th richest person in the world, according to the Bloomberg Billionaires Index, with a net worth of $126 billion at the time of writing. Most of his fortune, or about $124 billion worth, consists of Nvidia shares, and the rest is cash. Huang, who co-founded Nvidia in 1993 and has been leading it ever since, owns about 3.5% of the AI chipmaker as of March.

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

Nvidia recently reported strong earnings. For the first quarter of fiscal year 2026, ending April 27, the AI giant reported revenue of $44.1 billion, up 12% from the previous quarter and up 69% from the same period last year. Nvidia expects revenue to be even higher for the second quarter of 2026, predicting $45 billion.

Nvidia shares have been climbing for the past month and are up over 8%. The company is the No. 2 most valuable in the world, with a market capitalization of $3.58 trillion, second to Microsoft.

Nvidia CEO Jensen Huang, 62, has begun selling Nvidia shares under a new trading plan that allows him to dispose of up to $865 million worth of stock by the end of the year.

According to a Monday filing with the Securities and Exchange Commission, Huang offloaded 100,000 Nvidia shares, worth $14.4 million, between Friday and Monday, his first sale of the year. Another filing shows that Huang sold another 50,000 shares on Monday, valued at over $7 million.

The transactions fall under a new 10b5-1 plan adopted on March 20 and disclosed last month in Nvidia’s quarterly report. The plan allows Huang to sell six million shares in total by December 31, which would equal $865 million worth of shares at Monday’s closing price of $144.17.

The rest of this article is locked.

Join Entrepreneur+ today for access.



Source link

Nvidia CEO Starts Selling Stock, $865M By End of Year Read More »

Luminar Neo AI-Powered Photo Editor on Sale

Luminar Neo AI-Powered Photo Editor on Sale


Disclosure: Our goal is to feature products and services that we think you’ll find interesting and useful. If you purchase them, Entrepreneur may get a small share of the revenue from the sale from our commerce partners.

According to Business Insider, entrepreneurs typically allocate 10% of their revenue to pay freelancers for support roles. But if you’re ready to take on more yourself, the award-winning Luminar Neo Lifetime Bundle lets you create professional-grade images without having to outsource.

Right now, a lifetime license to Luminar Neo, a video training course, and six packs of preset photo filters can all be yours for $79.99 (reg. $682), the best price on the web.

Handle pro-level image edits yourself with Luminar Neo

With Luminar Neo, you can create professional-looking photos without hiring an expensive photographer. This easy-to-use photo editor is compatible with both Windows and Mac, and works as a plugin for Photoshop and Lightroom. It’s packed with basic editing tools like masking, layers, and local adjustments, so you can create eye-catching photos.

Luminar Neo also offers AI-powered tools to take your photos to the next level. It provides tools like sky replacement, skin retouching, and control of lighting aspects in photos. And if you figure out the perfect recipe for your photos, you can use multiform presets and easily replicate that same look over and over again.

This bundle includes the Creative Photo Editing Techniques in Luminar Neo Video Course, an informative class taught by photographer and editor Albert Dros that teaches you how to edit landscapes beautifully.

You’ll also receive six preset photo filter packs, which allow you to transform photos without manual editing. Change your photos with the Light Reflections Overlay Add-On, give a winter vibe with the Frosty Winter LUTs Add-On, among other options.

Handle photos in house with the Luminar Neo Lifetime Bundle, now only $79.99 (reg. $682), the best price on the web.

StackSocial prices subject to change.

According to Business Insider, entrepreneurs typically allocate 10% of their revenue to pay freelancers for support roles. But if you’re ready to take on more yourself, the award-winning Luminar Neo Lifetime Bundle lets you create professional-grade images without having to outsource.

Right now, a lifetime license to Luminar Neo, a video training course, and six packs of preset photo filters can all be yours for $79.99 (reg. $682), the best price on the web.

Handle pro-level image edits yourself with Luminar Neo

The rest of this article is locked.

Join Entrepreneur+ today for access.



Source link

Luminar Neo AI-Powered Photo Editor on Sale Read More »

OpenAI’s Jony Ive Deal Removed From Website, Social Media

OpenAI’s Jony Ive Deal Removed From Website, Social Media


Former Apple designer Jony Ive, who began at the tech giant in 1992, is famous for his work creating the iPhone and iPad (among other products). Ive left Apple in 2019 to found his own companies, including “io,” an AI device startup, which was just purchased for $6.5 billion in an all-stock deal last month by ChatGPT-maker and AI behemoth, OpenAI.

Or was it? If you check OpenAI’s website or social media, you will no longer find any mention of it.

Related: ‘The Coolest Piece of Technology the World Has Ever Seen’: OpenAI Is Acquiring Former Apple Designer Jony Ive’s Startup for $6.5 Billion

When the deal was announced, OpenAI CEO Sam Altman and Ive posted a video together announcing the partnership. Altman called one product he interacted with “the coolest piece of technology the world has ever seen,” while Ive complimented Altman, calling him “a visionary.”

Now, the page is blank except for the text: “This page is temporarily down due to a court order following a trademark complaint from iyO about our use of the name ‘io.’ We don’t agree with the complaint and are reviewing our options.”

Spokespeople for Ive and OpenAI told Bloomberg that the public content was removed because of a recently filed trademark lawsuit by a company called IYO Inc., which also builds AI devices and wants to bar OpenAI from using the “io” name.

“This is an utterly baseless complaint and we’ll fight it vigorously,” a spokesperson for Ive said on Sunday, per Bloomberg.

But until then, the launch of the “coolest” tech ever is going to have to wait.

Related: Steve Jobs Gave Jony Ive an ‘Impossible Task’ the First Time They Met. It Saved Apple from Bankruptcy.



Source link

OpenAI’s Jony Ive Deal Removed From Website, Social Media Read More »

His Side Hustle Led to 7 Figures and Richard Branson’s Island

His Side Hustle Led to 7 Figures and Richard Branson’s Island


This Side Hustle Spotlight Q&A features New York City-based entrepreneur Josh Turner, 34. Turner is the founder of Stand4Socks, a sock company that, for every pair sold, donates another to someone in need. The B Corporation has distributed more than 750,000 pairs across the UK, Europe, and most recently, Ukraine. Stand4Socks now sees more than $1 million in revenue a year. Responses have been edited for length and clarity.

Image Credit: Courtesy of Stand4Socks. Josh Turner.

What was your day job or primary occupation when you started your side hustle?
I’ve been entrepreneurial since the age of 8, starting little businesses throughout my early years of life. When I was still in school, I did club nights, eBay, power selling, etc., and this laid the foundation for being a lifetime entrepreneur.

Being dyslexic, I eventually had the opportunity to spend a lot of time with Richard Branson, one of the most famous British entrepreneurs who also has dyslexia, and he has been a real inspiration throughout my life.

Related: After a 12-Year-Old’s Side Hustle Made Over $4,000 in 1 Day, He and His Dad Grew the Business to Nearly $50,000 a Month: ‘It Takes Commitment’

I studied business at university, and when I started my career, I went to an entrepreneur accelerator program called NEF (New Entrepreneurs Foundation). I was placed in a big corporate job and, unfortunately, fired within six months on Christmas Eve. I never wanted to work in a big company, but as I looked for another job while on welfare benefits, I had the opportunity to launch this side project. In the UK, they give a little extra money to start a company on welfare. That was the starting point — being close to homelessness — but the extra money and time I had to pursue this when I lost my job was the launchpad.

When did you start your side hustle, and where did you find the inspiration for it?
In 2015, TOMS Shoes was huge at the time for its “buy one, give one” concept, and I saw how the mash-up of business and charity was actually an attainable and scalable concept. I liked the idea of a hybrid model of doing good as you do business, not the old school definition of “make money, then give to charity.” Rubber wristbands like Livestrong were also popular at the time, raising money, showing support and spreading awareness. However, at the end of the day, they were just rubber wristbands, and I figured there had to be a more meaningful and sustainable way to wear your values. That’s when the idea clicked: Why not use colorful socks to show what we stand for?

We started in 2015 doing donations linked to the United Nations Global Goals. You wear one sock, and we plant 10 trees. Another sock supports gender equality and educates a child in Afghanistan. A third reduces child mortality; sales of the baby blue sock would help vaccinate kids against measles. One HIV and AIDS design wasn’t popular in the middle of 2016, so I started donating them to homeless shelters. I was quick (and surprised) to learn that throughout this donation process, many shelters told me no one ever donates socks — yet socks are the most requested item. Homeless people walk up to 10 miles a day, and not having fresh socks can lead to very severe foot health issues. That’s when the penny dropped. I realized we were putting so much effort into supporting causes worldwide, but we had missed something close to home: homelessness. We still do 10% of other causes (Ukraine, dyslexia, NHS socks, etc.). But now, the majority of our “buy one, give one” model supports people experiencing homelessness, which we use broadly to help refugees, people in Ukraine, children in poverty, older people and more.

Image Credit: Courtesy of Stand4Socks

What were some of the first steps you took to get your side hustle off the ground?
At the time, I was a 23-year-old millennial who saw the power of the internet and how big of a factor that could be on the success of my business. One of the first things I did was learn to code and build a website; this was before even having socks or a factory. In my mind, I thought getting socks would be easy (turns out it wasn’t) and learning to code would be one of the harder business challenges to overcome. Secondly, I couldn’t afford a graphic designer or really any external expertise. So, I took it upon myself to learn graphic design using Illustrator and how to design socks. I used YouTube to learn both things, not courses, because I couldn’t afford them.

Related: This Nashville Mom Started a Flexible Side Hustle on Facebook — Then Grew It From $1,000 to $275,000 a Month: ‘Like a Scavenger Hunt’

I saved up my welfare money to use on travel to go to big trade shows to find a factory for sock production. I went to Paris, Hong Kong and Turkey for trade shows, staying in hostels and taking cheap buses (at the time I couldn’t afford direct flights or hotels). I would speak with people on site and say, “We’re from Stand4 Socks,” and we’d receive the same reaction: They had never heard of us. They knew of the big brands, but not us, because we didn’t have a factory yet. While not surprising, it presented a challenge for 23-year-old me, as it was a bit of a chicken-and-egg situation to get a factory to believe in us. After a lot of hard work, we eventually landed a factory that believed in us, one that we still have a longstanding relationship with now. They took a chance on us when no one else did. And now the people there are like family — they even came to my wedding!

Are there any free or paid resources that have been especially helpful for you in starting and running this business?
As I mentioned earlier, YouTube was massive for us. I frequently call it my co-founder. It taught me anything I needed to learn. Being dyslexic, I learn best from visuals and at my own pace. If I got lost, I could rewind or find another video on the topic. Shopify has also been a game-changer, especially as we’ve grown. It allowed us to launch a website quickly. As we expanded, we added apps and features to compete with bigger companies, which took time but has helped us scale effectively.

If you could go back in your business journey and change one process or approach to save you time, energy or just a headache, what would it be, and how do you wish you’d done it differently?
To save time and energy, I would get a grip on our financial numbers earlier. I’ve had mentors who emphasize financial details, and my dad has an accounting background. I’ve had times when we nearly ran out of money because we donated socks before sales came in or spent too much on stock without adequate cash flow. Using the accounting software Xero has been phenomenal for our business. It allows me to see our balance sheet in seconds, compare year on year and month on month, providing real-time financial insights and comparisons. Instead of having just annual business plans and cash flow forecasts, we are now able to review our numbers on a weekly or monthly basis, empowering us to stay closely attuned to the numbers. This, in turn, has created opportunities for us to take more calculated risks, know when things are tight and change strategy when needed.

Image Credit: Courtesy of Stand4Socks

When it comes to this specific business, what is something you’ve found particularly challenging and/or surprising that people who get into this type of work should be prepared for, but likely aren’t?
We were fortunate enough to pitch on the UK’s version of Shark Tank called Dragon’s Den. One of the biggest obstacles we stumbled on was how we presented and understood our financial numbers. As someone with dyslexia, handling many different numbers under pressure was difficult, especially when we were thrown a ton of questions all at once. Since filming in 2019, we’ve grown significantly and recognized the value of having a grip on our numbers year-round as opposed to waiting until year-end. This is something we weren’t acutely aware of in the earlier stages of our business, but have grown to recognize how tremendous a difference it can make.

Related: This Former Firefighter’s ‘Hidden’ Side Hustle Turned Full-Time Business Helps Keep Homes Safe — and Saw ‘Explosive Growth’ to Over $27 Million Revenue

Can you recall a specific instance when something went very wrong? How did you fix it?
Given how unexpected the pandemic was, challenges in our business escalated quickly, despite being an online business. Our factory shut down, and our supply chain was severely disrupted. We came up with the idea of launching a special “Help for Health Heroes” sock to support frontline workers and to address the PPE gap with quality socks. We started by launching a pre-sale as a way to support frontline workers and keep our lights on, with the caveat to customers that they likely wouldn’t get the socks for three months. We sold over 30,000 pairs of socks in that period, which helped keep our business alive and support a worthy cause. It really taught us the strength of our customers and mission and showed that a little creativity can go a long way.

How long did it take you to see consistent monthly revenue? How much did the side hustle earn?
It took about five years before we had consistent monthly revenue. For the first five years, I put a majority of my time into this business, but my income came from freelance work with digital marketing consulting for brands and other big companies. I actually learned these skills from building my business, and that’s how I was able to sustain myself and the business in the early days. I worked from my mom’s shed for the first five years, which helped me keep costs low and save up to eventually move out and continue to grow the business. This time period was invaluable for learning how the business operates, enabling more rapid and sustainable growth in the subsequent five years.

What does growth and revenue look like now?
We’re now a consistently seven-figure business annually and profitable. We’ve remained bootstrapped, though, and haven’t taken any outside investment. Our focus is to prioritize sustainable growth, our bottom line and profitability. With our expansion to the U.S. market, we expect 3x growth of the whole global business, and 10x in the next five years is what we’re working towards.

What do you enjoy most about running this business?
What I enjoy most about my business is also what makes it the hardest: No one tells you what to do. On one hand, you have to figure out everything yourself. There isn’t a playbook; no one is handing you a to-do list. But on the other hand, that’s exactly what makes it so rewarding. You get to set the direction, trust your gut and follow your instincts, rightly or wrongly. When working for a large corporation, I often saw inefficient decision-making. At this stage in my career, being so junior, I had no say, even though my gut was telling me there was a better way. Running my own business gives me an opportunity to take risks and course correct in real time. Sometimes those risks lead to flops, but other times, they’ve led to great success. The sense of freedom to build something your way is what keeps me going.

Related: She Quit Her Job at Trader Joe’s After Starting a Side Hustle With $800 — Then She and Her Brother Grew the Business to $20 Million

What is your best piece of specific, actionable business advice?
Enjoy the journey. It’s going to be way harder than you think when you set out, but also way more rewarding than you’d ever expect. Don’t get overly caught up in milestones — appreciate the process.

Also, the answer is always “no” if you don’t ask the question. So many people stop themselves from reaching out because of the fear of being rejected. But if the answer is already “no” in your head, and you reach out and get a “no,” then nothing’s changed. Don’t be afraid to reach out to people because you might just get a yes.

Image Credit: Courtesy of Stand4Socks

That mindset has taken me to some wild places. One of the most surreal examples? I ended up spending a week with Sir Richard Branson on his private Necker Island. That experience didn’t come from deep connections or privilege: It came from asking bold, often unreasonable questions and walking through doors some may have felt they had no business knocking on.

Richard gave me a piece of advice that has stuck with me: “Hire people smarter than you, and then get out of their way.” It’s brilliant in theory, but when you bootstrap and are living in places like New York City, you often can’t afford to hire those people. So my approach has been to learn just the basics — whether development, sock design, marketing, etc. — and then delegate effectively. Don’t try to be an expert in everything, but have enough foundational knowledge to guide someone who is.

Want to read more stories like this? Subscribe to Money Makers, our free newsletter packed with creative side hustle ideas and successful strategies. Sign up here.



Source link

His Side Hustle Led to 7 Figures and Richard Branson’s Island Read More »

3 Truths Every Founder Learns the Hard Way

3 Truths Every Founder Learns the Hard Way


Opinions expressed by Entrepreneur contributors are their own.

Growing up, most of us were raised on a handful of core values: Be respectful, work hard, go to school, and try to find a “good job.” That kind of advice served a purpose — until you stepped into the world of entrepreneurship.

Once you start building companies, managing risk and making decisions that impact other people’s livelihoods, you quickly realize that much of the real-world playbook wasn’t passed down at the dinner table. There are rules no one told you — lessons that only become clear through experience, failure and a few bruises along the way.

Here are three truths your mom probably didn’t mention, but every entrepreneur eventually learns.

Related: 5 Truths About Entrepreneurship You’re Better Off Knowing From the Start

1. Relationships matter more than money — don’t burn bridges

Money gets a lot of attention. In business, it’s often treated as the ultimate scorecard. But ask anyone who’s been through multiple cycles — booms, busts, exits, restarts — and they’ll tell you the same thing: Relationships are the true long-term currency.

Too many people early in their careers treat business like a zero-sum game. Win the deal. Beat the competition. Squeeze every cent. But what they don’t realize is that business is a marathon, not a sprint. And the bridges you burn now could be the ones you need to cross later.

People remember how you made them feel. They remember how you showed up when things were good and how you behaved when things weren’t. I’ve seen incredibly talented people sidelined from opportunity not because they lacked skill, but because they left a trail of scorched relationships behind them.

Business isn’t just about capital — it’s about trust. When the tide turns, it won’t be your profit margins that save you. It’ll be the people who trust you enough to bet on you again.

So, here’s the bottom line: Protect your name. Don’t burn bridges. Stay in touch with the people who helped you early on. And never underestimate the value of loyalty, humility and consistency.

2. Don’t just look for a job — build a career that points forward

Most people are trained to look for stability. A job with a paycheck, a title, maybe benefits. But entrepreneurship requires a different mindset — one that’s focused not just on the next role, but on the next direction.

If you’re constantly looking straight ahead, reacting to what’s in front of you, you’ll miss the bigger picture. The best founders don’t just ask, “What should I do next?” They ask, “What kind of life do I want to build? What impact do I want to have?”

Looking up means identifying a bigger vision. It means saying no to short-term moves that don’t serve the long game. It means thinking in terms of legacy, not just tasks.

Every great company starts with someone who wasn’t satisfied with the status quo. Someone who refused to settle for “just another job” and instead chose to take a risk on a bigger idea. If you’re serious about entrepreneurship, your job isn’t to chase opportunities — it’s to shape them.

Stop asking what’s available. Start asking what’s possible.

Related: What No One Tells You About Entrepreneurship — 5 Hard Truths

3. Go to college — but not for the reasons you think

We’ve been told since childhood: “Go to college. It’s the only way to succeed.” And sure, if you’re planning to be a doctor, attorney or engineer, that advice still holds up. But for the rest of us? The real value of college has little to do with the diploma and everything to do with the people.

College isn’t just a classroom. It’s your first real network. Your first taste of navigating relationships, learning to pitch an idea, convincing others to join your vision and failing publicly — then bouncing back. That’s not something you learn in a lecture hall.

Some of the most successful founders of our time didn’t finish college, but they were smart enough to immerse themselves in a social ecosystem where ideas, ambition and bold personalities collided. College is where you find your tribe. Your co-founders. Your early supporters. Your future business partners.

So if you’re going to invest in college, don’t do it for the framed degree. Do it for the four years of social capital you’ll never get back. Skip the resume-padding clubs and find the circles where ideas get challenged, risks get taken and relationships get built.

Because ten years from now, no one’s going to ask what grade you got in Econ 101 — but they will ask who you built something with.

Related: The 6 Scary Truths About Becoming an Entrepreneur

Entrepreneurship is one of the toughest and most rewarding paths you can take. But it doesn’t come with a manual — especially not one your parents had. The lessons you need to succeed often fly in the face of conventional wisdom.

So let this be your updated guide:

  • Prioritize people over profit.

  • Think in decades, not quarters.

  • And recognize that your social intelligence will often carry you further than any degree.

Your mom gave you the basics. Now it’s on you to learn the rest — and write your own playbook.

Growing up, most of us were raised on a handful of core values: Be respectful, work hard, go to school, and try to find a “good job.” That kind of advice served a purpose — until you stepped into the world of entrepreneurship.

Once you start building companies, managing risk and making decisions that impact other people’s livelihoods, you quickly realize that much of the real-world playbook wasn’t passed down at the dinner table. There are rules no one told you — lessons that only become clear through experience, failure and a few bruises along the way.

Here are three truths your mom probably didn’t mention, but every entrepreneur eventually learns.

The rest of this article is locked.

Join Entrepreneur+ today for access.



Source link

3 Truths Every Founder Learns the Hard Way Read More »

Cut Business Travel Costs for Good with OneAir Elite

Cut Business Travel Costs for Good with OneAir Elite


Disclosure: Our goal is to feature products and services that we think you’ll find interesting and useful. If you purchase them, Entrepreneur may get a small share of the revenue from the sale from our commerce partners.

For business owners and professionals who travel often, airfare and hotel costs can quietly erode margins. But what if your travel platform actively worked to lower those expenses—automatically? With OneAir’s Lifetime Elite Plan, you get a powerful, AI-driven booking and savings tool for just $59.99 (regularly $790) when you use code FLY30 through July 20.

OneAir is designed for individuals who view travel as an investment, not a luxury. The platform scans millions of hotel and flight prices in real time, alerting you when rates drop for trips from your preferred departure airport. You don’t have to constantly monitor deals—OneAir does the work for you.

It goes one step further: if you’ve already booked a flight or hotel and the price drops, OneAir’s Smart Monitoring automatically rebooks the same itinerary at the lower price and refunds the difference. No more second-guessing whether you should have waited to book.

Unlike public travel sites, OneAir gives you access to private, wholesale hotel rates and unpublished flight deals—including premium cabins on over 700 airlines. On average, members save $50 to $150 on flights and $20 to $150 per night on hotels. You’ll also earn up to 10% back in OneAir Cash Rewards, which can be applied to future travel.

For small business owners, consultants, and remote teams, OneAir is more than a booking tool—it’s a cost-cutting asset. With just one trip, the savings can exceed the price of lifetime access.

If you’re ready to reduce overhead, travel smarter, and save automatically, OneAir Elite is your ticket.

Don’t miss the opportunity to get a lifetime of flight deals for the one-time payment of $59.99 for OneAir Elite. Use code FLY30 through July 20.

OneAir Elite: Lifetime Subscription (Save Money On Your Existing Hotel and Flight Bookings)

See Deal

StackSocial prices subject to change.

For business owners and professionals who travel often, airfare and hotel costs can quietly erode margins. But what if your travel platform actively worked to lower those expenses—automatically? With OneAir’s Lifetime Elite Plan, you get a powerful, AI-driven booking and savings tool for just $59.99 (regularly $790) when you use code FLY30 through July 20.

OneAir is designed for individuals who view travel as an investment, not a luxury. The platform scans millions of hotel and flight prices in real time, alerting you when rates drop for trips from your preferred departure airport. You don’t have to constantly monitor deals—OneAir does the work for you.

It goes one step further: if you’ve already booked a flight or hotel and the price drops, OneAir’s Smart Monitoring automatically rebooks the same itinerary at the lower price and refunds the difference. No more second-guessing whether you should have waited to book.

The rest of this article is locked.

Join Entrepreneur+ today for access.



Source link

Cut Business Travel Costs for Good with OneAir Elite Read More »