While AI has been in existence since the 1950s, it has only just recently become a household name with the introduction of OpenAI’s ChatGPT less than two years ago. As an investor in both OpenAI and xAI, I continuously ask myself the ethical ramifications of this new technology, how intelligent it is and whether it is the best path forward for humanity. As an experiment, I asked ChatGPT its opinion about artificial intelligence (AI) systems in today’s society, and this is what it had to say:

“As an artificial intelligence language model, I do not have personal opinions or beliefs. However, I can provide an objective analysis of AI systems in today’s society. AI has brought about numerous benefits to society, such as improved efficiency, accuracy, and decision-making processes. It has also contributed to advancements in medical research, transportation, and various other industries. However, the deployment of AI systems in today’s society also presents potential risks, such as job displacement, privacy concerns, and the possibility of biased algorithms. Therefore, it is crucial to ensure that AI is developed ethically and responsibly to mitigate these risks and ensure that the technology benefits society as a whole. In summary, AI systems have immense potential to positively impact society, but their deployment must be done with careful consideration and ethical responsibility.”

Related: The Only Drawback of AI Is Your Attitude. Here Are 4 Things You Need to Change Your Outlook — And Harness AI for Success.

While this response shows AI is still robotic and objective in its methods of “thinking,” it is also, in fact, intimately aware of the ethical concerns bearing over its use. At this critical point in history, where we sit at the precipice of mass AI adoption, we still can’t seem to decide whether AI will be our savior or our villain. Ultimately, it comes down to the applications and responsible management of AI systems.

As an investor, I am in the unique position of being able to help push these new AI companies forward. In the last two years, we have seen a “gold rush” of AI startups. Many have raised impressive rounds; many have faltered, and some have already seen acquisitions. However, the first two I have invested in OpenAI and xAI are now well-known. The former for its ability to have tackled the challenge of global mass adoption and the latter for its commitment to building a more ethical system for the AI ecoverse.

When it comes to applications in AI, it’s safe to say that humans have always strived to create tools to make our lives easier; this is not new. Historically, “mechanical muscles” and outsourcing shifted physical labor. Now, we’re at the point where “mechanical minds” will unleash a cascade of applications across industries. Automation has evolved from more than just the physical.

One major development pushing forward the AI adoption frontier is Microsoft’s continued investment in OpenAI. This partnership will likely lead to everything from optimized Excels to AI-generated PowerPoints and even more support in email management. Upper-class work is now also ripe for disruption.

In finance, AI can be leveraged in various ways. AI algorithms can identify patterns of behavior, such as unusual transactions or identity theft, allowing financial institutions to detect and prevent activities quickly. AI can also analyze market trends and make assumptions about future trends, assisting institutions in making more accurate decisions.

While this is only one sample of industry transformation, there are some areas of work that will be impacted less by AI. These industries are those operating in information asymmetry — such as early-stage venture capital. For AI to work effectively, the model must have access to data. Industries whose data is private, segregated and complex cannot train and build inferences in the same way that a model based on publicly available information can. The strength of AI is dependent on the value of its underlying data and model, which in turn is dependent on the quality of the rules set forth by the humans crafting the algorithms.

In terms of management, we must continue to maintain an element of skepticism and criticism as the growing adoption of AI increases. These tools will continue to develop, but they should not be treated as an all-knowing source of truth. Again, this is critical because these systems only know what is in their underlying systems. As people, investors and business-minded individuals, we must acknowledge the strength of these systems while also considering the fact that they must be constantly maintained. While AI employs a constantly evolving algorithm that learns from itself and experiences, we must still continue to adjust the rules and data sources supporting these AI systems.

Related: AI Will Radically Transform the Workplace — Here’s How HR Teams Can Prepare for It

Diversity of thought and perspectives is critical for those who have the power to develop these systems. A system created by humans with biases will intrinsically be biased as well. We must maintain human values in control of the systems. In today’s society, where truth seems to be subjective, belief in these systems can be both extremely advantageous and extremely detrimental. We must refrain from programming systems to tell people what they want to hear. It is important for people to understand and respect the limitations of AI.

At the same time, just because humanity is capable of doing something doesn’t always mean it should. We could likely replace most jobs with AI, but should we? Where do we draw the line? How do we ensure honesty and integrity in future systems and platforms? This is part of what xAI and OpenAI have committed to tackling and why I have believed in and supported them from the beginning.

AI will undoubtedly transform all of our lives, but this transformation will only be positive if we continue to be critical stewards of truth and information. As investors, I encourage everyone to maintain a healthy dose of skepticism when investing in AI-powered solutions. Look at the human beings who stand behind those systems because their beliefs are the ones teaching and driving the solution.

If Donald Trump is re-elected as president, and assuming Congress cooperates, there will be significant changes to personal and business income taxes. Trump’s main tax policy goal is to make the Tax Cuts and Jobs Act (TCJA) permanent, which was passed during his first term. Some parts of the TCJA have already expired or are being phased out, and the majority of the other provisions will expire by the end of 2025.

Supporters of these tax cuts say they drive economic growth. Opponents are concerned about the impact on government spending and budget deficits. Regardless, below are ten of the most significant ways your taxes could be impacted by a Trump re-election.

Related: 10 Tax Law Changes You Need to Know to Save Your Business Thousands of Dollars

1. Individual tax rates could reduce

If the TCJA becomes permanent, individuals earning more than $500,000 would be taxed at a top rate of 37%. If the TCJA expires, those making over $426,700 would be taxed at a top rate of 39.6%.

2. Individual tax “standard” deductions would stay high

The TCJA increased the individual tax deduction — used by people who don’t itemize their deductible expenses on their tax returns — to $12,400 for individuals and $24,800 for those filing joint returns. If it expires, these deductions would revert back to their previous levels of $6,200 and $12,400, respectively. However, personal exemptions for the taxpayer, their spouse and each of their dependents — which were as much as $4,050 — could return, and that would offset some of the increased tax cost.

3. Corporate tax rates would go even lower

The TCJA lowered the corporate tax rate from 28% to 21% for those businesses that file C-Corporation tax returns. Trump has said he wants to lower this rate to 20%, which would put the U.S. at one of the lowest corporate tax burdens in the world.

4. The qualified business income (QBI) tax deduction continues

More than 90% of U.S. businesses are considered to be “pass-through” entities. Owners of these firms generally file S-Corporation or partnership tax returns, and the net income from the business flows through to the owner’s tax return and is taxed at individual rates. The TCJA introduced a significant tax deduction — the qualified income tax deduction (QBI) — that allowed many of these businesses to deduct up to 20% of their company’s income before it passed through to their individual returns. Trump wants to make this tax deduction permanent.

Related: How to Get the Most Money Out of Your Side Hustle During Tax Season, From an Expert Who Raised $75.2 Million to Make Filing Easier

5. Estate tax exemptions would stay at their current levels

With more than half of small business owners being over the age of 50, succession and estate planning have become a significant issue. For those looking to pass assets to their heirs, they’ll face a federal estate tax rate of 40%. However, the TCJA increased the exemption for assets that would be subject to this tax to over $11.2 million for individuals and $24.4 million for people who are married. While the rate would remain the same if the TCJA expires, those exemption amounts would fall to $5.6 million and $11.2 million, respectively. This would be in addition to the estate taxes levied by many states.

6. Research and development expenses are once again deductible in the first year

Back in 2022, the ability to deduct research and development expenses (which includes certain materials, compensation and outside contractor costs used to develop new products or improve existing products) in their first year expired. This, unfortunately, forced those businesses taking advantage of this deduction to capitalize and then amortize those expenses over five years, which spread out the tax benefits of these costs. If made permanent, the TCJA would once again allow business owners to take these deductions in their first year.

7. Big deductions would return for capital equipment purchases

Similar to research and development expenses, businesses enjoyed significant deductions for capital expenditures such as machinery, equipment, computer hardware, autos and other fixtures in the first year those assets were placed into service. Those deductions have begun to phase out but would be restored under Trump’s tax plan.

Trump has also announced his intention to pursue two other tax reforms, although details are scant at the moment.

8. No more taxes on tip income

The first is for tip income, which Trump has proposed making non-taxable. This would have far-reaching effects not only on service workers but also on the way small businesses potentially pay their workers, with the incentive to encourage more tipping from customers and less payroll compensation from their pockets.

9. More tariffs

Tariffs are taxes that businesses pay to import goods and ultimately wind up as higher costs for consumers. Under a Trump administration, a baseline tariff of 10% would be imposed on all imports, with a 60% tariff levied on Chinese goods.

Expansion of 529 plans

529 plans have been a popular way for individuals to save after-tax money — and have it grow tax-free – as long as the funds are used for higher education and private and religious school education. Trump would expand the use of 529 funds so that they can be used for homeschooling.

The takeaway is that Trump’s tax positions lean heavily towards lower taxation of both businesses and individuals, which he believes will spur economic growth. This growth would then generate more tax revenues for the government. However, his policies could result in significant deficits if this growth doesn’t happen.

It was only four years ago that we found ourselves amid a global pandemic. Unemployment numbers hit all-time highs in 2020 as many businesses couldn’t operate and many others had to drastically shift how they operated.

Since then, many have returned to work, but not everyone has. Some saw their layoff as an opportunity to go back to school, learn new skills, travel or raise a family. After making decisions like these, returning to work can be nerve-wracking. If you’re looking to return to work (or recently did), here are five things you need to know.

Related: Got a Gap on Your Resume? Here’s How to Own It

1. Time away from work likely made you stronger, not weaker

The best leaders and critical thinkers are those who’ve had a full array of life experiences and exposed themselves to different things, people and places. Work experience is (obviously) great, but it’s just one kind of experience. When that’s all we have, we tend to lack the ability to reason through different kinds of scenarios and relate to different kinds of individuals. We end up being one-dimensional and not able to think outside of one box.

When we take time away from work, we do new things we’ve never done before. We invest time in things we didn’t previously have time for. These things shift our perspective and expand us. Time away has likely caused you to grow and evolve (for the better). During my 21-year career, I’ve chosen to leave my job three different times.

I traveled internationally, cared for a dying family member, became a marathon runner, published two books and held my own photography gallery opening. These experiences dramatically expanded my worldview and tremendously changed me. They helped me become more aware, confident, relatable and accountable. That all made me a better leader and employee. If you’ve taken time away to raise children, go back to school or serve on a board, that’s undoubtedly changed you into a more well-rounded and stronger individual.

2. You’re not the first or only person to rejoin the workforce after time away

Lots of people take time away from work at some point during their lives. It’s not abnormal and you’re not alone. It’s more than likely your future boss or the person interviewing you has also taken time away from work or knows many who have. Make sure you never fall into the trap of believing that being out of work is bad or problematic — because it isn’t.

Having an employment gap on your resume isn’t a red flag, especially if you filled the time doing something meaningful like accomplishing a big goal or developing a different skill. If you’re currently out of work and this isn’t the case, you can still make it the case. Read a book (or several). Join a club. Take a class. Give back to the community by volunteering. Force yourself to develop or grow. That way, you’ll have something to share with others when you do return to work.

Related: Why Entrepreneurs Should Invest in Sabbaticals: 5 Tips for Taking Productive Time Away From Work

3. Your skills and talents don’t disappear overnight (or even in a year)

Being out of work doesn’t change who you are or what you know. Your resume still exists. Your professional accomplishments and work experiences don’t simply disintegrate because you took a step back to focus on other parts of your life. It’s the same with your college degree, past certifications and training. It all still happened. It’s amazing how quickly old skills return.

Even after employment gaps, I was quickly able to get caught up when it came to using databases or systems, crunching numbers or fulfilling my professional responsibilities. Especially when it comes to the talents or gifts required for people-related endeavors, such as leadership or sales. You don’t simply forget how to interact with others because life has looked a little different for a few months or years. You’ll still know how to ask questions, listen and care about the answers.

4. Not working was probably the right life decision — and the right employer will understand

It’s easy to assume others will think less of us after we’ve taken a break from work. No doubt, some people will. Those people aren’t worth your time. Whoever is looking down on you for taking time away to paint, travel, raise a family or go back to school is not the right employer for you. That’s because they’re judging your choices and refusing to accept who you are as a person.

Great companies and great leaders care about their employees as people — not just workhorses. If the person interviewing (or leading you) is raising an eyebrow at your choice to focus on some other aspect of your life than just work, you’re probably not in a place where you’re valued as a person. If you took time away from work to do something that felt to you, it was probably the right choice. The right employer will know (and respect) that.

Related: Here’s How You Get Back Into the Business World After Taking A Break

5. You’ll have plenty of tools, resources and people who are there to help you

Today’s rate of technological advancement is great, so taking time off means you might return to a changed industry. That can be scary and overwhelming. Just because you’re reentering the workforce doesn’t mean you have to go it alone. Don’t make the mistake of refusing to ask for help because you don’t want to look foolish or weak. Leveraging tools around you doesn’t mean you’re overwhelmed or in over your head. It means you’re resourceful and humble. Identify what you need to get back to speed. Figure out what things you need to learn (or relearn). Then, speak up. Publicly announce it to someone (even if it’s just the person sitting next to you). You’ll be surprised at how willing people will be to help you. It’s okay to ask for help.

Self-fulfilling prophecies are real. If you believe that returning to work will be hard, then it will be. If you believe that taking time away from work has put you at some sort of deficiency, then it will. Whatever you tell yourself is true, is what will be true for you. Remember that your thoughts and feelings are both choices. You get to choose how to feel about your return to the workforce. Where there’s a will, there’s a way. Choose to be confident and stand by your decisions. If you remember these five truths, your return to work will be stellar and you’re likely to be a better employee than you were when you left.

The social security number of every American may have been compromised in a massive cybersecurity breach that could threaten the identity of all citizens.

The hacking group USDoD claims that they’ve leaked 2.7 billion personal information records, including social security numbers, full names, and home addresses from a data broker called National Public Data (NPD).

Related: Hack Exposes 10 Billion Passwords, Largest Leak in History

NPD is a background check agency that gives sensitive personal information to potential employers and staffing agencies during screening processes, as well as private investigators.

According to a class action lawsuit, NPD obtained the data without consent, and the breach occurred sometime in April 2024.

The lawsuit alleges that “upon information and belief” USDoD was “able to exfiltrate the unencrypted PII of billions of individuals” and that the personal information was “published, offered for sale and sold on the Dark Web by cybercriminals.”

According to BleepingComputer, the data was leaked for $3.5 million.

How do I know if I was hacked?

There are several ways to check if you’ve had your personal information leaked.

First, monitor your credit reports and look for unauthorized or fraudulent activity, including opening new bank accounts, credit cards, or large withdrawals.

Related: Mark Cuban Issues Warning After His Google Account Is Hacked

If you receive notice from a debt collector or notice fraudulent activity, contact your financial institutions and law enforcement.

Also, be the first to initiate calls (meaning if you get a call, tell them you’ll call back), and don’t give out your social security number.

California wants to equip its workforce with AI skills by partnering with Nvidia on training across the state. The AI chip giant is headquartered in Santa Clara and is currently the third most valuable company in the world.

California Governor Gavin Newsom and Nvidia CEO Jensen Huang announced the “first-of-its-kind” partnership that will focus on training students in AI, creating jobs, and using AI to solve real-world problems.

“Together with California, Nvidia will train 100,000 students, college faculty, developers, and data scientists,” Huang stated, adding that the aim was “to prepare California for tomorrow’s challenges” and “unlock prosperity.”

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

The partnership brings AI workshops, labs, curriculum, certifications, and technology from Nvidia to community colleges. Individuals have the opportunity to enhance their careers through these efforts.

The state of California benefits from a pipeline of AI talent and will explore how it can nurture early-stage AI startups through the effort.

“We’re in the early stages of a new industrial revolution that will transform trillion-dollar industries around the world,” Huang stated.

^{Nvidia founder and CEO Jensen Huang talks next to a robot. Credit: JOSH EDELSON / AFP}

AI has helped reduce repetitive tasks and streamline communication, say company leaders. A recent Microsoft study found that even though employers are looking for candidates with AI skills, only 39% have provided AI training for existing employees. And the majority of AI use in the office is secretive, with 78% using AI tools at work “without guidance or clearance from the top.”

At the same time, it’s expensive to create AI: One model could cost $100 million today and tens of billions of dollars in the next few years. AI could also drive energy emissions up, as seen by Google’s July environmental report.

Despite AI’s drawbacks, it could have a positive impact in California through the new partnership. California is the most populated state in the nation, with over 39 million residents. California’s unemployment rate hit 5.3% in February; as of June, there were 999,897 people unemployed in the state.

Related: Nvidia’s CEO Sold Stock for the First Time This Year and Netted the Most He Ever Has in a Single Month

Small businesses are the backbone of our economy, driving job creation, innovation and community development. Yet, according to the U.S. Chamber of Commerce, cash flow problems and poor business management are two of the top three reasons why nearly half of all SMBs fail within the first five years.

This doesn’t have to be the case.

Today, thanks to innovations in software management, cloud-based reporting and outsourced CFO services, SMBs have an unprecedented opportunity to transform their financial operations from a compliance slog into a strategic superpower.

Finances are the heartbeat of every thriving business. However, not every founder has the energy, resources, or expertise to keep meticulous records, set up back-office infrastructure, and find ways to manage both human and financial capital. Fractionalization, or Finance as a Service (FaaS), is the future of finance for SMBs. With the right FaaS partner, founders can get better insights, improve their financial firepower, and clear their headspace to focus on what they do best.

Effective finance operations are essential to support smart decision-making and fuel growth. If you are a growing small business, startup, influencer or streamer, getting your finances not just in order but actively working for you can activate your business’ potential and propel you toward explosive growth.

Here are four ways expert FinOps partners can help change the game:

Related: Bridging Finance And Operations: A Partnership For Better Business

1. They can modernize your processes, leading to actionable insights.

Today’s service providers can streamline your entire financial ecosystem, turning what can often be a chaotic and time-consuming process into a well-oiled machine. Innovative partners can integrate tech stacks and build a robust infrastructure in the cloud. Automation reduces the risk of human error, leading to more accurate data and faster processing times.

With reliable, real-time financial data at your fingertips, you can make more informed decisions, react quickly to market changes, and identify growth opportunities. The peace of mind that comes from knowing your accurate and up-to-date financial data allows you to focus on strategic planning and long-term success. When your financial foundation is strong, you not only sleep better at night but also have the confidence to drive your business forward.

Related: How to Use Automation (and Avoid the Pitfalls) as an Entrepreneur

2. They can optimize financial health through strategic advisory services

FinOps experts bring a wealth of knowledge and specialized services to the table, making them invaluable partners for small businesses looking to optimize their financial health. They offer various services, from bookkeeping and compliance reporting to tax planning and strategic finance support. But look for a provider who can help you optimize your financial health with services beyond the basics – spending management, forecasting, and live dashboard reporting.

FinOps experts can help you leverage cutting-edge technology to stay ahead of the curve, so you’re not just keeping your financial house in order — you’re actively positioning your business for growth and success.

3. They can address your unique goals with personalized service from expert teams

You know your business better than anyone else. However, a good partner will have experience in your industry and understand the unique challenges you face. Your FaaS partner will be just as invested in your success as you are, and they will tailor solutions to support your individual goals. They will be able to anticipate potential roadblocks and offer proactive solutions.

A true partner won’t offer a one-size-fits-all service but will instead work closely with you to align strategies that specifically address your needs. With a collaborative approach, your SaaS partner should become an extension of your team, tackling challenges together to drive your business forward.

4. They can scale with you as you grow.

The operations support you need right now may not be the same as what you need in a year or even in six months. And that’s expected. Providers with scalable cloud-based solutions can start with the basics and grow from there. For example, a FaaS provider may offer basic bookkeeping for now, then expand to CFO services, tax planning or HR management services as you need them. They can also help you integrate new systems as you adopt them and streamline operations as you grow. This scalability ensures that your financial infrastructure evolves alongside your business. With a flexible partner, you can adapt quickly to new opportunities or challenges, knowing that your financial operations will always support your next move.

The right FaaS partner can provide the back-office muscle that your ambitious aspirations call for, launching your businesses into a healthier financial future. With passionate experts as partners, you can unlock business potential and stay in the game for years to come. Partnering with the right FinOps allows you to focus on what you do best—driving innovation and growth. By transforming your financial operations into a strategic asset, you can not only survive the challenges that come your way but thrive in an ever-evolving marketplace. When you make FinOps your superpower, you can get to your goals faster, grow smarter, and achieve financial peace of mind sooner.

Are you ready for some marketplace mayhem?

On this episode of Entrepreneur Elevator Pitch, tech entrepreneurs share their grand visions of digital platforms built to fill the needs of businesses and customers alike. But while their two-sided marketplace pitches might sound polished, do these companies have that one thing that all investors crave — profitability?

Longtime viewers of Entrepreneur Elevator Pitch know that every episode challenges contestants to step inside our elevator and pitch their company in just 60 seconds. A board of investors is watching and if they like what they hear, the elevator doors open and the entrepreneur has the chance to win a life-changing investment. But if the investors don’t like what they hear, the elevator heads to the ground floor and their shot at glory is over.

It’s never easy — and it is always unpredictable. Watch to see whose flashy presentation quickly loses its luster as our investors start firing away with questions and whose pitch builds into a boardroom bidding war!

Season 11, Episode 7 Board of Investors

Season 11, Episode 7 Entrepreneurs

• Nikki Sanz, founder of Giggs, a platform connecting live event professionals and employers.
• Jennifer Tsay, founder of Shoott, a platform that helps you find affordable photographers vetted by your local community.
• Wayne Reuvers, founder of Live Retail, a marketing company that promises to 3X your product in your local markets without 3X-ing your budget.

How to Watch

Season 11 of Entrepreneur Elevator Pitch is presented by Amazon Business. New episodes stream on Wednesdays on Entrepreneur.com and EntrepreneurTV. Follow Entrepreneur Elevator Pitch on Facebook, YouTube and IGTV.

Google beat Apple to the punch by releasing new smartphones packed with AI.

At the Made By Google event on Tuesday, Google interspersed the Pixel 9 release with celebrity appearances and jabs at Apple. Keke Palmer and NBA all-star Jimmy Butler were on stage and Google executives demonstrated what the Pixel camera could do.

At the event, Google revealed four new Pixel phones embedded with Google’s own Gemini AI assistant: the $799 Pixel 9, the $999 Pixel 9 Pro, the $1,099 Pixel 9 Pro XL, and the $1,799 Pixel 9 Pro Fold, which unfolds into an 8-inch tablet.

Related: How Google CEO Sundar Pichai Shook Up His Leadership Team for the AI Era

The Pixel 9 is Google’s first line to fully ship with Gemini Nano multimodality, meaning that users can access the AI assistant through voice, text, code, image, and video. Users don’t have to have a network connection to access Gemini Nano and the Pixel 8 Pro, released last year, uses the same system.

The Made By Google event usually occurs in October, and moving it up to August, one month ahead of Apple’s expected iPhone release, could be Google’s attempt to outshine Apple, Bloomberg mused.

Apple is reportedly launching Apple Intelligence and bringing AI to iPhones this fall for the 15 Pro, Pro Max, and any new iPhones. The new, upcoming phones could prompt Apple’s existing user base to upgrade their old iPhones for AI features.

Apple currently dominates the $61.5 billion U.S. smartphone market, with the iPhone capturing 58.81% of the market share compared to the Google Pixel’s 4.6%.

What can Google’s AI really do?

Google took the tasks that users turn to their phones for, like checking the weather, and gave them an AI boost. For example, the new Pixel Weather app features an AI weather report, while Call Notes gives phone calls AI-generated transcriptions that are saved on the phone, not the cloud, for security.

Pixel Screenshots saves phone screenshots in a separate app so users can search through them with AI, and not lose them on their camera roll. The Pixel Studio image generator creates new images on the spot, and Google demoed how to use the app to make invites to a party.

^{Google Pixel 9 Pro and Pro XL. Credit: Google}

Google’s pre-event advertising asked Gemini to write a breakup letter and start it “Dear Old iPhone.”

But the first Gemini demo took three tries to work. Still, Google used that as an opportunity to take another swing at Apple by emphasizing that it was a live demo — alluding to Apple’s prerecorded ones.

Google also claimed that the Pixel 9 had the “world’s first AI-powered camera” and compared a photo taken by the new Pixel 9 Pro XL to the iPhone 15 Pro Max without naming Apple.

.@Google is doing a LIVE Gemini demo, reiterating that it’s a live demo jabbing at @Apple doing canned demos and videos. It worked on the 3rd try. #MadeByGoogle pic.twitter.com/BRKv6J3vGc

— Anshel Sag (@anshelsag) August 13, 2024

Related: Apple’s AI Has a Catch — And It Could Help Boost Sales

The livestream on X with former President Donald Trump and billionaire Elon Musk has more issues, and this time it isn’t just technical.

The United Auto Workers union filed federal labor charges against Trump and Musk that allege two men attempted to “threaten and intimidate” workers on the X Spaces livestream who wished to participate in “protected concerted activity, such as strikes.”

Related: Elon Musk Praises Tesla EVs to Donald Trump in X Livestream

During the conversation, which the UAW called “rambling, disorganized” and “illegal,” Trump advocated for the firing of workers who went on strike.

“I look at what you do, you walk in, you say, ‘You want to quit?’ They go on strike,” Trump told Musk via livestream. “I won’t mention the name of the company, but they go on strike and you say, That’s OK, you’re all gone.”

The UAW noted in its lawsuit that under federal law in the U.S., employees cannot be fired solely for going on strike and that an employer threatening to let them go for that reason is violating workers’ rights under the National Labor Relations Act.

Related: Elon Musk Blames Cyberattack for Trump’s X Livestream Delays

“Both Trump and Musk want working class people to sit down and shut up, and they laugh about it openly,” UAW President Shawn Fain said in a release for the organization. “It’s disgusting, illegal, and totally predictable from these two clowns.”

In 2022, after Musk took over Twitter (now X), he initiated mass layoffs, letting go of thousands of employees and senior leadership following his acquisition of the company. In May, Musk fired Tesla’s entire Supercharger team after one executive tried to push back against more layoffs.

The UAW, which is based in Michigan, currently represents over 40,000 autoworkers and formally endorsed Democratic Presidential nominee Kamala Harris earlier this month.

Trump and Musk have not yet commented on the charges.

Creating a workplace where your team thrives involves more than just offering competitive salaries and cool in-office perks. A truly fulfilling workplace goes beyond to encompass a range of benefits and programs designed to enhance the overall well-being and growth of your team members. Incorporating wellness programs, community-building workshops and other perks can foster deeper connections among employees, creating a strong sense of unity and belonging.

As the founder of ButterflyMX, I’ve had the privilege of witnessing the transformation of a simple idea into a pioneering force in the proptech industry. And that transformation would never have been possible without the dedication and fulfillment of our team. Our framework fosters a workplace where our team is not only motivated but also deeply satisfied with their work.

A shared commitment to innovation and improving the customer experience can significantly enhance workplace culture. By fostering a sense of purpose and camaraderie, companies can drive both personal and professional fulfillment, making the workplace not just a place to earn a living, but a space where individuals can grow and flourish together.

Related: This Is the Science Behind Thriving Workplace Cultures

The paycheck and beyond

Competitive compensation is essential, but it’s merely the starting point. Ensure your team is well-compensated while also recognizing that financial incentives alone are not enough to retain top talent.

Ensure your team receives other perks, like wellness programs and community-building workshops, that foster opportunities for growth and development to enhance their overall well-being.

For example, at my company, we host virtual community-building workshops, like succulent planting and candle-making. These workshops give our team an opportunity to foster deep connections with each other and create a sense of unity.

Alignment with beliefs and vision

Having a team that’s driven by a shared commitment to innovation and elevating the overall experience for your customers is crucial for creating a thriving work culture and environment.

Believe in the transformative power of technology to improve everyday life. This alignment will create a sense of purpose and belonging. Employees who resonate with your vision are more engaged and motivated, which makes them more likely to succeed.

For instance, during one of our early team meetings, we discussed our vision of transforming building access through technology. We took turns sharing personal stories of the frustrations we experienced with outdated intercom systems, and the team’s enthusiasm was palpable. This alignment of personal and professional goals created a strong sense of purpose and camaraderie.

Embracing uniqueness

Every individual brings a unique set of skills and perspectives to the table. Celebrate these differences, and encourage your team to leverage their unique talents. This not only enriches the collective experience but also brings fresh, creative perspectives to your projects.

Recognize and appreciate the unique skills and talents each employee brings to the table. For instance, if an employee has a hidden talent in graphic design, find ways to integrate that skill into their work, even if it’s not part of their primary job function.

Related: This Is What Happens When You Focus on Employees’ Strengths

Opportunities for growth

Emphasize the importance of continuous learning. Further, provide your team with opportunities to attend workshops, pursue further education and take on new challenges within your company. This focus on growth will cultivate a culture of ambition and innovation.

The bottom line: Employees are more likely to stay with a company that invests in their professional growth.

Offer opportunities for training, mentorship and career advancement. Create clear pathways for progression within your organization, and support your team in achieving their career goals. Regularly discuss career aspirations during performance reviews, and provide resources to help your team develop new skills.

Fulfillment

At the pinnacle of The Employee Hierarchy of Needs is fulfillment. Create an environment where your team feels appreciated, valued and part of something greater. Fulfillment is about more than just job satisfaction; it’s about emotional connection.

Make sure your team members know their contributions directly impact the success of your company and the satisfaction of your customers. This sense of fulfillment fosters loyalty and long-term commitment.

For instance, ButterflyMX is a hybrid company with remote workers across America and abroad. Each year, we host company offsites that give our team members a chance to collaborate in person and include opportunities for professional development and fun activities. This gives our team the ability to connect and build community in person. The camaraderie and sense of community that emerges from this experience has created lasting positive impacts on our workplace culture.

Personal reflections

Building my company has been a journey of learning and growth, not just for the company but for me personally. Creating a fulfilling workplace is an ongoing process — one that requires constant reflection and adaptation. One of the most rewarding aspects has been witnessing the personal and professional growth of our team members. Their success stories are a testament to the effectiveness of our employee-centric approach.

In my experience, a positive employee experience translates directly into a superior customer experience. When your team is fulfilled, they are more passionate about their work and more dedicated to providing exceptional service. This, in turn, strengthens customer loyalty and drives your company’s success.

Related: Here’s How Business Leaders Can Cultivate Happiness in the Workplace

As you look to the future, your commitment to fostering a fulfilling workplace must remain steadfast. Continue to innovate and expand, and be guided by the principles that have brought you this far. By prioritizing the needs of your team, you can ensure your workplace remains a place where people love to work and build a brand that customers trust.

In conclusion, building a fulfilling workplace is not just about meeting basic needs; it’s about creating an environment where your team can thrive.