Anheuser-Busch’s Bud Light has announced a multi-year sponsorship for the UFC (Ultimate Fighting Championship). The brand will get prominent visibility during fights, weigh-ins, digital content and broadcasts, Bloomberg reported.

The move comes as part of an extensive effort to rebuild Bud Light’s sales following a downturn after a partnership with transgender influencer Dylan Mulvaney. The deal caused a backlash among both its core customer base and the LGBTQ+ community due to Bud Light’s perceived lack of solidarity with the influencer following the outcry.

Starting on January 1, 2024, Bud Light will be the “official beer partner” of the UFC. Although numbers remain undisclosed, Bloomberg reported that it is the most substantial sponsorship in the history of the UFC, surpassing the $175 million deal signed with Crypto.com in 2021.

Related: Where Anheuser-Busch Went Wrong and How We Can Do Better

The partnership also marks a reunion of the two institutions, as Bud Light was formerly a brand partner of the UFC from 2008 until 2017. Dana White, the CEO of the UFC, expressed his excitement about the reunion, noting the history the brands have.

“Anheuser-Busch and Bud Light were UFC’s original beer sponsors more than 15 years ago,” White said in a statement to Bloomberg. “I’m proud to announce we are back in business together.”

“There are many reasons why I chose to go with Anheuser-Busch and Bud Light, most importantly because I feel we are very aligned when it comes to our core values and what the UFC brand stands for,” White added to CNN.

Sponsoring the UFC is just one of many efforts by Anheuser-Busch to boost the Bud Light brand. Recent initiatives have included advertising campaigns featuring NFL stars, launching its “biggest summer campaign ever” and offering generous rebates over holiday weekends. Still, Bud Light’s sales continue to decline, with a 30% drop in volumes year-over-year for the four weeks ending on October 7, according to NIQ data from Beer Business Daily, per CNN.

Related: Modelo Continues to Dominate Bud Light, Hits Another Major Milestone for the First Time Ever

https://www.entrepreneur.com/business-news/bud-light-inks-landmark-ufc-deal-for-brand-revival/464273

Just one month after unveiling its new iPhone 15 lineup, Apple has plans for another big reveal.

The tech giant sent invitations to members of the media for a scheduled keynote on Monday, October 30 at 8 p.m. ET. Apple is expected to announce its next-generation silicon chip M3 at the livestream-only, “scary fast” event, CNN Business reported.

Related: Tim Cook Says Layoffs at Apple Are a ‘Last Resort’ | Entrepreneur

Why the “scary fast” tagline? That appears to acknowledge the M3’s speedy development — the M2 was just introduced to the company’s MacBook line last year — and the approach of Halloween, per the outlet.

The company’s new iMac computers will likely feature the latest chipset, which should give Mac sales a needed bump, according to CNN. Apple Mac shipments were 7.2 million in the third quarter, down more than 23% year over year, per International Data Corp findings reported by Barron’s.

The 24-inch Mac is expected to receive the M3 chip at Apple’s event later this month, and there are no signs of an iPad launch so far, per CNN.

Related: Tim Cook’s Original Apple Card Application Was Denied: Report

Apple announced its first M1 silicon chipset for its computers in 2020.

“When it comes to low-power silicon, M1 has the world’s fastest CPU core, the world’s fastest integrated graphics in a personal computer, and the amazing machine learning performance of the Apple Neural Engine,” Johny Srouji, Apple’s senior vice president of Hardware Technologies, said at the time.

https://www.entrepreneur.com/business-news/apple-expected-to-unveil-m3-chip-for-mac-at-scary-fast/464275

Skims, the American shapewear and clothing brand co-founded by Kim Kardashian, Emma Grede and Jens Grede in 2019, was recently valued at $4 billion — and it’s not stopping there.

Not only did the “solutions for every body” brand announce its expansion into menswear with its new line of briefs, undershirts, boxers and leggings, but it’s also eyeing an initial public offering, CNN Business reported.

Related: What Businesses Do the Kardashians Own? Skims, Kylie Cosmetics

The global shapewear market is estimated to hit $3.7 billion by 2028, per Grand View Research. Skims has already made a name for itself in that space and other categories of women’s apparel — from dresses to bodysuits, pajamas and more.

Skims’ women’s sizing is meant to promote body positivity, as does its men’s, which ranges from extra small to 5X. Items in the new men’s line run from $16 to $54 and come in cotton, “stretch” and “sport” fabrics, according to CNN.

The company, which raised $270 million in its latest fundraising round led by Wellington Management this past July, said that men already make up 10% of its existing customer base, per the outlet.

Skims hired chief financial officer and former Nike executive Andy Muir, which could be a sign that an IPO isn’t far off.

Related: Kim Kardashian Slammed For Lecture at Harvard Business School

Additionally, Wellington Management has a reputation for taking companies public — and Skims’ CEO Jens Grede recently told Dealbook that the company sees an IPO on its horizon. “At some point in the future, Skims deserves to be a public company,” he said.

https://www.entrepreneur.com/business-news/kim-kardashians-skims-expands-into-menswear-considers-ipo/464196

Get the need-to-know highlights from the social media industry that happened the week of October 16-20.

1. Broadcast Channels Feature

• Meta is testing Telegram-like broadcast channels on Facebook and Messenger, providing a new avenue for Pages to engage with their audiences. Keep an eye on this feature’s rollout to leverage broader communication channels on Meta’s platforms.

2. Instagram Data Portability

• Users can now transfer their Instagram media to Google Photos and other services, enhancing data management across apps. Use this feature to secure and manage your digital assets efficiently.

3. AI Chatbot Moderation

4. Verified for Business Onboarding

• Meta revealed the onboarding steps for its Verified for Business program, aimed at authenticating business identities. Explore this verification process to boost your brand’s credibility on Meta platforms.

Threads

1. Facebook Post Display & Branded Content Tags

• Threads is integrating with Facebook by displaying posts and testing branded content tags, expanding its reach and advertising potential. Explore Threads’ growing interconnectivity with other platforms to amplify your content visibility.

2. Instagram Profile Tags & Direct Messaging

Instagram

1. “Get Orders” Feature

• The new “Get Orders” button on posts offers an additional interaction point for businesses and creators. Use this feature to streamline order processes and enhance customer interaction.

2. Web Tracking Opt-out

• Meta now allows users to prevent Instagram from tracking their web activity, bolstering privacy controls.

3. Reels Play Bonus Discontinued

• The discontinuation of a significant income source via Reels Play Bonus has sparked creators’ dissatisfaction.

4. Link Addition and Desktop Activity Access

• New functionalities include adding a link to your page and accessing account activity on desktop, enhancing profile management.

WhatsApp

1. Self-Destructing Messages & Multi-Account Login

2. Scheduled Chats for Communities

Twitter/X

1. Blocking Bing Search

• Twitter/X has blocked Bing from crawling its content, potentially affecting search visibility. Monitor how this change may impact traffic referrals and content discoverability.

2. Enhanced User Verification

• In a bid to combat bots, Twitter/X is introducing payment, phone, and ID verification along with a $1/yr fee for new users. Familiarize with these new verification steps to maintain your account integrity and platform access.

3. Possible Exit from Europe

• Due to EU laws, Elon Musk contemplates withdrawing Twitter/X from Europe, which could shake the platform’s global presence. Stay updated on this development, especially if your audience is largely based in Europe.

4. Twitter Isn’t Free Any Longer with New User Fee in Selected Regions

• New users in New Zealand and the Philippines will be charged $1 a year for key features access, a step towards platform monetization. Observe how this fee introduction impacts user growth and engagement in these regions.

5. Community Fact Checks Requirement

• Community fact checks on Twitter/X now require source inclusion, promoting more transparent information validation. Make sure to include reputable sources when engaging in community fact checks.

6. Possible Link Throttling

• Allegations of Twitter/X throttling links to rival sites like Threads are emerging. Use available tools to ascertain any link throttling affecting your content reach.

7. “Enhanced Discovery” for Premium Users

• Twitter/X Premium may soon offer an “Enhanced Discovery” perk, enriching content discovery for its subscribers. If you’re a premium user, look forward to leveraging this perk to enhance your platform experience.

8. Fake Airline Rep Scam

• A new scam on Twitter/X involves fake airline reps assisting in flight rebooking, showcasing a bizarre exploitation tactic.

9. Community Membership Qualification

• Entry questions rollout on Twitter/X aims at qualifying users for community membership, fostering a more curated community experience. Use this feature to build and maintain a more engaged and authentic community.

LinkedIn

1. AI-Powered Profile Enhancement

• LinkedIn Premium users now have access to an “AI-powered Magic Wand” feature to enhance their profiles, offering a competitive edge in the professional arena.

2. Platform Evolution Attracting Brands

• LinkedIn is transitioning beyond a job board, becoming a valuable space for influencers and CEOs to build their brands, with a burgeoning market of specialists ready to assist in maximizing LinkedIn’s potential. Explore this evolving platform dynamic to broaden your personal or corporate brand reach, and consider engaging professional assistance to harness LinkedIn’s full potential.

YouTube

1. Affiliate Product Display Enhancements

• New features like product timestamps in clips, bulk tagging for affiliate products, and insights into sponsored mention performance are set to bolster affiliate marketing on YouTube. If you’re into affiliate marketing, leverage these features to enhance your product visibility and track performance.

2. Supporting News Organizations with Shorts

• YouTube is allocating $1.6 million to assist over 30 news organizations across 10 countries in creating Shorts, enriching the platform’s news content. Explore YouTube Shorts as a fresh avenue for news consumption or sharing.

3. Facilitating Diverse Creator-Advertiser Connections

• A new initiative allows creators to self-identify regarding race, ethnicity, gender, sexuality, and disabilities, making it easier for advertisers to connect with diverse creators.

4. Product Timestamps for Enhanced Shopping Experience

• Creators can now add timestamps to tagged products in their videos, enriching the YouTube shopping experience. Use product timestamps to guide viewers to the exact moment a product is featured, enhancing their shopping journey.

5. Authoritative News Source Promotion

• YouTube is nudging users towards ‘authoritative’ news sources through a new watch page, showcasing longform videos, livestreams, podcasts, and Shorts under currently playing content.

6. Playback and Creator-Focused Feature Rollout

• A suite of new features including stable volume control, enhanced video descriptions on smart TVs, real-time view, and like counts for the first 24 hours, among others, are aimed at enhancing user and creator experience on the platform.

TikTok

1. Halloween-Themed Voice Effects

2. ‘Parents of TikTok’ Hub Launch

• A new hub called ‘Parents of TikTok’ aims to spotlight parenting content and create a supportive community for parents on the platform.

3. ‘Out of Phone’ Ad Expansion

4. AI Chatbot ‘Tonik’ on TikTok Music

• TikTok Music is testing an AI chatbot named Tonik, hinting at interactive features in the music domain.

5. Monetization Feature: ‘Work with Artists’

• A new feature facilitating collaborations between creators and artists opens monetization avenues.
• Explore ‘Work with Artists’ to discover collaboration and monetization opportunities.

6. Mobile Gaming Feature ‘Drops’

• ‘Drops’ allows viewers to earn in-game props by completing tasks during live streams, enhancing the gaming experience on TikTok.

7. CapCut for Business Launch

• TikTok unveils a suite of business-centric video editing tools, including an AI script generator, AI virtual try-on, and collaboration features among others, targeting brands, marketers, and creators. Explore CapCut for Business to elevate your video marketing efforts with AI-powered tools and collaborative features.

8. Auto Captions on All Videos

• Auto captions will soon be a default feature on all videos, promoting accessibility on TikTok.

9. Privacy Fine Challenge in EU

• TikTok is contesting a €345 million fine over teen privacy concerns in the EU, showcasing the platform’s ongoing legal challenges in the region. Stay updated on this legal battle as it may impact TikTok’s operations in the EU.

10. Video Mention Feature from Audio Page

• A new feature allowing mentions of other videos from the audio page enhances content interlinking on TikTok. Use this feature to reference and connect with other content, enriching your video narratives.

11. AI Memes Generation

• Generate AI memes on TikTok with a new feature that adds a fun and interactive element to your content creation.

Alternative Platforms

Artifact

• Recommendation Feature Expansion
  • Instagram co-founders’ app, Artifact, now assists users in discovering and sharing favorite places like restaurants, bars, or shops, enhancing local exploration.

Snapchat

• Facilitating Creator-Brand Collaborations
  • Three new tools, including a Paid Partnership tag, Creator Discovery API, and Midroll ads for Stories, are launched to bridge collaborations between creators and brands, offering insightful metrics for informed partnerships.
• Web Content Embedding Feature
  • Snapchat now allows websites to embed content like Lenses, Spotlight videos, Public Stories, and Public Profiles, broadening content shareability beyond the app.

Discord

• Shutting Down Gas
  • Discord decides to shut down Gas, an anonymous compliments app it acquired earlier this year, marking an end to this unique platform feature.

Reads

• Coca-Cola Social Media Insights
  • An in-depth exploration into how Coca-Cola effectively leverages social media to enhance brand presence and engagement.
  • Takeaway: Delve into Coca-Cola’s strategic approach for potential insights to refine your own social media strategy. Read more
• Paying to Dodge Ads
  • A look into how much social media users are willing to pay to enjoy an ad-free experience on their favorite platforms.
  • Takeaway: Understand user preferences regarding ad-avoidance to tailor your advertising or subscription-based strategies. Read more
• New Stories Feature on Twitch
  • Twitch introduces a Stories feature for eligible streamers, enhancing interaction and content sharing with their audience.
  • Takeaway: If you’re a Twitch streamer, leverage the new Stories feature to engage with your audience in a fresh, transient manner. Read more
• Teen Digital Behavior Insights
  • A study revealing that most U.S teens spend around 4.8 hours daily on social media, with distinct preferences between genders on platforms like YouTube, TikTok, and Instagram.
  • Takeaway: Gain insights into the digital behaviors of Gen-Z to tailor your content and engagement strategies accordingly. Read more

That’s it for updates!

https://buffer.com/resources/social-media-news-october-16-20/

The sharks on ABC’s long-running show “Shark Tank” — Mark Cuban, Barbara Corcoran, Lori Greiner, Kevin O’Leary, Robert Herjavec, and Daymond John — are some of the most coveted investors to work with for aspiring entrepreneurs.

The group has been doling out advice on the hit show for 15 seasons with a slew of guest stars, from Emma Grede to A-Rod. But on “The View” on Tuesday, real estate mogul Corcoran made a confession that there’s one person she’d love to see on the show — Whoopi Goldberg.

[embedded content]

“No one would argue with me,” Corcoran said, after co-host Sarah Haines asked about a rumor that she had pushed for Goldberg to be a guest investor this season. “She tells it like it is. She spots people’s personalities.”

“Every great ‘Shark’ we’ve had stems from the heart, they really want to help people, and that’s what you have,” the real state maven added. “Who wouldn’t want to have you as their partner?”

Cuban then chimed in, adding that Goldberg would be “a great Shark,” with O’Leary joking that all she would need is $100 million to invest.

“There is the problem — if I could do it with ABC’s money,” Goldberg responded.

“Shark Tank” premiered Season 15 on September 29.

Goldberg has had a long career in Hollywood and currently makes a reported $8 million annually on “The View,” where she’s served as a co-host for 16 years.

According to Celebrity Net Worth, Goldberg is worth an estimated $60 million.

https://www.entrepreneur.com/business-news/barbara-corcoran-wants-whoopi-goldberg-on-shark-tank/464064

Showing up to work hungry is probably a bad idea when you’re a food delivery worker surrounded by the sights and smells of freshly cooked meals.

This must have been the case for one Grubhub driver who let his hunger get the best of him as he chowed down on a customer’s meal while in his vehicle — and then got caught on camera.

On October 11, during the dinner rush, Martin Luzanilla, CEO of Mexihana’s Hibachi Grill in Long Beach, California, saw a Grubhub driver on surveillance camera untie a delivery food order and take a few bites from the meal while inside his car in the parking lot in front of the restaurant.

Related: DoorDash Driver Yells At Woman For $5 Tip: Video

Luzanilla confronted the driver, who told him that it was his lunch — and Luzanilla apologized.

But when he went inside, he realized that it was not, in fact, the driver’s meal; it was a customer’s delivery order. Surveillance footage obtained by Today shows the driver helping himself to the meal.

A Grubhub driver was caught on camera eating a customer’s food, the restaurant owner tells https://t.co/LaKO1WBYWZ. Take a look:

?: Martin Luzanilla / Mexihanas Hibachi Grill pic.twitter.com/1rW4raiNnl

— TODAY (@TODAYshow) October 19, 2023

Luzanilla said he contacted the customer multiple times before finally getting in touch with him and told him to throw out the food that was being delivered and that a new order would be on the way.

“I just said, ‘I’m actually making your food right now for you guys, and I’ll be personally delivering it to you,'” Luzanilla told local outlet ABC 7.

Grubhub told Today that the driver is no longer with the company and that the dining platform has contacted the customer and the restaurant owner.

“We have no tolerance for misconduct on our platform,” a Grubhub spokesperson told the outlet. “The vast majority of our orders are completed without incident or complaint, and when things don’t go as planned, we work hard to make things right.”

Grubhub did not immediately respond to Entrepreneur‘s request for comment.

Related: Grubhub’s CEO Adam Dewitt Steps Down, Second in Two Years

https://www.entrepreneur.com/business-news/video-grubhub-driver-caught-taking-bites-of-customers-food/464058

^{This article originally appeared on Business Insider.}

Next year, Silversea Cruises will operate the vacation of a lifetime: a “pole-to-pole” cruise. And at a cool $95,000 per person, this 125-day trip will also sail as the most expensive cruise of 2024.

The luxury Royal Caribbean Group brand is in the business of selling expensive vacations. The luxury cruise line’s newest vessel, the Silver Nova, set sail in August with itineraries starting at $500 a day.

And recently, the cruise line has seen plenty of success for its longer — and subsequently more expensive — “Grand Voyage” itineraries.

^{Silversea Cruises via BI}

In 2022, Roberto Martinoli, president and CEO of Silversea Cruises, said the cruise line had been experiencing “incredibly high demand for extended voyages.”

The luxury brand will be operating a diverse collection of these longer cruises in the coming years.

^{Silversea Cruises via BI}

From its 2025 136-day world cruise from Tokyo to New York starting at $76,000 per person to its 2024 71-day cruise around South America for almost $50,000, these sailings are as long as they are expensive.

But in 2024, none of these itineraries will be as pricey (or icy) as its “Grand Pole to Pole Expedition.”

^{The most expensive cruise in 2024 will be Silversea’s 125-day “pole-to-pole” itinerary starting at almost $95,000 per person. Silversea Cruises via BI}

Starting at $94,700 per person, this 125-day voyage will be the most expensive cruise in 2024, a spokesperson for Silversea confirmed with Insider.

Sailing from “pole-to-pole” isn’t a new concept — this year, Holland America Line also unveiled its own iteration of this concept.

^{Holland America Line via BI}

Holland America’s itinerary — which will sail to both Antarctica and the Arctic Circle in 2025 — is eight days longer than Silversea’s but significantly cheaper at about $26,400 per person.

But this less expensive itinerary won’t have the same bells and whistles Silversea is known for.

^{Silversea Cruises via BI}

For the hefty nearly $95,000 cost, travelers will get the brand’s “door-to-door” experience. This includes a chauffeur to and from the airport, roundtrip business class flights, butler services, and an all-inclusive vacation.

Throughout the 125 days at sea, the ice-class Silver Wind and its up to 274 guests will travel to 21 countries.

^{Silversea Cruises via BI}

Along the way, this 28-year-old ship — last refurbished in 2021 — will stop at 90 ports.

The trip is an amalgamation of eight segments starting in Puerto Williams, Chile on February 22, 2024 and ending in Longyearbyen, Norway on June 26, according to Silversea’s itinerary.

^{Getty Images via BI}

The first leg from Chile will cross through the infamous Drake Passage. After the passage, Silversea plans for the ship to spend a few days around Antarctica, hitting the first “pole” on the itinerary. There, travelers can sign up for hiking, kayaking, and zodiac boat excursions.

Then, the itinerary shows the Silver Wind heading back to Chile before exploring South Georgia and the South Sandwich Islands, several Falkland Islands, and Argentina.

^{Shutterstock via BI}

From Buenos Aires, the ship — now heading into the halfway point of the itinerary — has plans to sail to destinations in Uruguay and Brazil, including down the Amazon River, before hitting Sierra Leone, Guinea-Bissau, Gambia, and Senegal.

Off to the next leg where the ship and its passengers are scheduled to head from West Africa to Cape Verde, Spain, Morocco, and Portugal, France, the UK, and Guernsey.

^{Silversea Cruises via BI}

And from the UK, the vessel will continue its trek up north to Iceland where the ship will sail around for a few days before venturing to Norway’s Svalbard, checking off the second “pole.”

After five days in the northern and southern parts of Svalbard, the 125-day-long vacation will finally conclude in Longyearbyen, Norway, the largest settlement in the archipelago, according to Silversea.

^{Longyearbyen, the largest city in Svalbard on May 2, 2022. JONATHAN NACKSTRAND/AFP via Getty Images via BI}

And again, the cruise line will arrange the necessary hotel stays, airport transfers, and business class flights back home.

Throughout the vacation, travelers can dine at one of the Silver Wind’s four restaurants, take in the views in the observation library, freshen up at the spa, or catch a show at the theater.

^{Silversea Cruises via BI}

But for days in Antarctica and the Arctic, travelers might want to avoid the pool deck (although the pool is heated).

A luxury cruise ship means there are no dingy interior staterooms.

^{Silversea Cruises via BI}

Instead, even the cheapest option is a suite with windows. So if you want, you could just spend every day at sea in bed soaking in the views.

But if you’re considering this vacation, you better start saving up to book as soon as possible.

^{Silversea Cruises via BI}

Five months out from the start of this journey, all but one of the suite categories now has a waitlist, according to Silversea’s website. Ironically, the only option without a waitlist is the cheapest $94,700 240-square-foot suite — perfect if you’re on a budget.

https://www.entrepreneur.com/business-news/silversea-cruises-pole-to-pole-is-the-most-expensive-of-2024/463982

Beloved chicken chain Chick-fil-A is settling a class action lawsuit for not delivering on delivery prices that were promised — and now customers may be entitled to some quick cash.

Plaintiffs Eboni Brown, Tanique Clarke, Travis Johnson, Dominic Greetan, Friday Frazier, and Keisha Rabon, filed a lawsuit in the U.S. District Court for the Northern District of Georgia on October 3 alleging that Chick-fil-A advertised cheap delivery fees to entice customers — but was quietly marking up prices of delivered food by up to 30% in order to compensate for the money cut from the fees.

“Plaintiffs allege that by omitting, concealing, and misrepresenting material facts about CFA’s delivery service, CFA deceives consumers into making online food purchases they otherwise would not make,” the delivery settlement reads.

Related: Panda Express Will Pay ‘Hundreds of Thousands’ of Customers in Class Action Lawsuit Over This Common Sneaky Practice — See If You’re Owed, Too

The fees affected those who ordered through the chain’s mobile app and website.

“On delivery orders only, Chick-fil-A secretly marks up food prices for delivery orders by a hefty 25-30%,” the suit states, according to documents viewed by Insider. “In other words, the identical order of a 30-count chicken nuggets costs approximately $5-6 more when ordered for delivery than when ordered via the same mobile app for pickup, or when ordered in-store.”

Chick-fil-A is settling for $4.4 million. Affected customers looking to claim their compensation are eligible for either a $29.95 cash payment or a $29.95 Chick-fil-A gift card. The chain must now also disclose via mobile and web that the price of menu items may increase if ordered for delivery.

The settlement is similar to another class-action suit settled by Panda Express in August in which the chain agreed to pay $1.4 million to affected customers who allegedly were hit with a hidden 10% “service charge” when ordering delivery.

Chick-fil-A did not immediately respond to Entrepreneur’s request for comment.

Related: Chick-fil-A Leads in Service Satisfaction (and Wait Times)

https://www.entrepreneur.com/business-news/does-chick-fil-a-owe-you-30-chain-settles-suit-for-44m/463976

Elon Musk is expressing concern about the U.S. economy as high interest rates are affecting car sales.

Tesla, which reported a worse-than-expected Q3 2023 on Wednesday, down 37% from the same time last year, is using caution on profit outlooks.

“I am worried about the high-interest rate environment that we’re in,” Musk said while talking about plans for expansion on the company’s Mexico gigafactory during the earnings call. “I just can’t emphasize this enough, that the vast majority of people buying a car is about the monthly payment. And as interest rates rise, the proportion of that monthly payment that is interest increases naturally.”

Related: ‘Detached From Reality’: Elon Musk Goes on Unprovoked Rant About Remote Work During Tesla Earnings Call

Musk said that if interest rates continue to stay the same or rise even more, then the average customer won’t be able to afford to purchase a car. He explained that Tesla must find a middle ground between lowering car prices and staying competitive — while also acknowledging that there is “something to be gained on the advertising front” for its vehicles.

“I just can’t emphasize again how important cost is, it’s not an optional thing for most people. It is a necessary thing,” Musk explained. “We have to make our cars more affordable so that people can buy it. And I keep harping on this interest thing, but I mean, it just raises the cost of the car.”

On Thursday, Federal Reserve Chair Jerome Powell hinted that at the next Fed meeting in two weeks, interest rates could stay the same, thanks to strong economic growth.

Related: The Federal Reserve Is on Instagram When Not Raising Rates

However, Powell also noted that the Fed was “proceeding carefully” moving forward, which could signal new hikes come December.

“Doing too little could allow above-target inflation to become entrenched and ultimately require monetary policy to wring more persistent inflation from the economy at a high cost to employment,” Powell said on Thursday. “Doing too much could also do unnecessary harm to the economy.”

The current Federal funds rate is set at 5.25% to 5.50%.

https://www.entrepreneur.com/business-news/elon-musk-worried-about-interest-rates-lower-tesla-prices/463972

Billionaire Mark Cuban knows a thing or two about what it takes to be a successful entrepreneur — and this week, the Mavericks owner appeared on “Good Morning America” to tell the world.

The “Shark Tank” star took viewer questions ranging from how to run a small business to what business advice he’d give to newbies who are just getting started.

Related: ‘You’re Not Old Until You Act Old’: Mark Cuban’s Advice on How to Stay Entrepreneurial Even When Considering Retiring

One viewer asked: “What are some of the mistakes you wish you could have avoided as an entrepreneur, and what are some of the biggest mistakes that first-time entrepreneurs fall victim to?”

[embedded content]

Cuban responded with something that most of us are taught early on in life — to treat others the way you want to be treated.

“I was 25 when I started my first company after I got fired, and I always thought I had to be mean because I was younger than everybody else — and that was wrong,” Cuban said. “What I’ve learned over the years is being nice really helps. Nice sells, nice makes you more money.”

He followed up with a simple philosophy, and something he looks for when investing in entrepreneurs — make sure you’re focused on the right things.

Related: Mark Cuban’s Grocery Store Hack Will Help You Score Cheaper Produce

“I was all excited about generating sales when I should have been more excited about generating profits,” Cuban said, emphasizing that there is a “big difference” between the two.

Last month, the “Shark Tank” star spoke with GQ about his early entrepreneurial days, crediting much of his success to a combination of luck, timing, and of course, hard work.

“I always tell people life is half random. And that’s just a reality for everybody,” he said candidly. “I got lucky … You gotta have timing. I was really lucky in that.”

According to Bloomberg, Cuban has an estimated net worth of $6.27 billion.

https://www.entrepreneur.com/business-news/mark-cuban-new-entrepreneurs-often-make-one-common-mistake/463923