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German opposition leader Friedrich Merz, who is seen as the frontrunner to become the country&#8217;s next chancellor, said that Donald Trump&#8216;s second term will provide <a href="https://www.benzinga.com/markets/eurozone/25/01/43061813/german-voters-head-to-polls-to-tackle-immigration-economic-stagnation" target="_blank" rel="noreferrer noopener">more clarity for the European Union</a>.
Merz made the comments during a meeting in Berlin with key conservative EU figures, including Manfred Weber, the head of the European People&#8217;s Party (EPP), the largest group in the European Parliament, reports Reuters.
While Merz views Trump&#8217;s predictability as beneficial for European planning, German Chancellor Olaf Scholz has recently <a href="https://www.benzinga.com/markets/25/01/42935683/scholz-warns-of-tension-with-trump-as-border-integrity-and-nato-spending-loom-over-germanys-election" target="_blank" rel="noreferrer noopener">expressed concerns about Trump&#8217;s foreign policy</a>.
Scholz has specifically raised alarms over Trump&#8217;s rhetoric on border integrity, particularly his remarks about neighboring countries like Canada and Greenland. Scholz stressed that the inviolability of borders is a core principle of Western values and warned that no smaller country should fear its larger neighbors.
Also Read: <a target="_blank" href="https://www.benzinga.com/markets/cryptocurrency/25/01/43074163/exclusive-will-bitcoin-dogecoin-shiba-inu-or-xrp-gain-more-on-trumps-inauguration-day-41-pick-this-crypto" rel="noreferrer noopener">EXCLUSIVE: Will Bitcoin, Dogecoin, Shiba Inu Or XRP Gain More On Trump&#8217;s Inauguration Day? 41% Pick This Crypto</a>
Merz, on the other hand, emphasized the importance of European unity, particularly in relation to the U.S, Reuters adds.
He argued that Europe must present a united front to be respected globally and to strengthen its position within the Western alliance.
With Trump&#8217;s inauguration imminent, Merz suggested that his hawkish policies could present opportunities for Europe, especially in terms of joint military procurement.
As Germany&#8217;s conservative opposition leader, Merz is poised to succeed Scholz after the collapse of Scholz&#8217;s coalition government over economic disagreements.
Merz believes that Trump&#8217;s second term could accelerate efforts to bring European power together, allowing Europe to act more cohesively on the global stage.
The contrasting views between Merz and Scholz highlight the complex challenges European leaders face as they navigate a changing transatlantic relationship under a returning Trump administration.
Read Next:
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<li><a href="https://www.benzinga.com/25/01/43059744/exclusive-can-sp-500-repeat-large-gains-from-donald-trumps-first-term-a-second-time-around-readers-say-this-return-range-most-likely" target="_blank" rel="noreferrer noopener">EXCLUSIVE: Can S&amp;P 500 Repeat Large Gains From Donald Trump&#8217;s First Term A Second Time Around? Readers Say This Return Range Most Likely</a></li>
</ul>
Image: Shutterstock

News

Politics

Markets

General

German Opposition Leader Sees Trump's Return as a Clarifying Force for EU

JPMorgan Chase&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>) has reportedly spent an enormous $2.14 billion on legal costs over the last two years.
What Happened: The bank&#8217;s 8-K <a href="https://data.fca.org.uk/artefacts/NSM/Portal/NI-000110939/NI-000110939.pdf">filings</a> with the U.S. Securities and Exchange Commission indicate that it expended $1.4 billion in 2023 and $740 million in 2024 on legal disputes.
These expenses encompass a significant settlement with the SEC, where JPMorgan disbursed&nbsp;$151 million in combined civil&nbsp;penalties and voluntary payments to&nbsp;investors.
Recently, the&nbsp;Consumer Financial Protection Bureau (CFPB)&nbsp;initiated a lawsuit against JPMorgan,&nbsp;along with Bank of America,&nbsp;Wells Fargo, and Zelle, for alleged failures to&nbsp;address widespread fraud and unauthorized&nbsp;transactions on the Zelle platform.
Also Read: <a href="https://www.benzinga.com/news/25/01/42965086/peter-lynchs-money-making-advice-when-things-go-from-terrible-to-semi-terrible-to-ok-you-can-make-a">Peter Lynch&#8217;s Money-Making Advice: &#8216;When Things Go From Terrible to Semi-Terrible to OK, You Can Make a Lot of Money&#8217;</a>
Since 2000,&nbsp;JPMorgan has paid more than&nbsp;$40 billion in fines and&nbsp;settlements due&nbsp;to anti-competitive practices, securities abuses, and other violations, as per the public Violation Tracker.
Why It Matters: Despite the hefty legal expenses, JPMorgan managed to report a profit of $14 billion in Q4 2024, marking&nbsp;its largest-ever annual profit at&nbsp;$58.5 billion. This indicates the bank&#8217;s resilience and ability to weather financial storms.
The lawsuit filed by the CFPB also puts a spotlight on the bank&#8217;s ability to manage fraud and unauthorized transactions, especially on digital platforms like Zelle. 
As digital transactions continue to rise, the ability to effectively manage and prevent fraud will be critical for maintaining customer trust and loyalty.
Read Next
<a href="https://www.benzinga.com/news/23/11/35865043/us-banks-are-abruptly-freezing-accounts-heres-how-you-can-save-yours">US Banks Are Abruptly Freezing Accounts — Here&#8217;s How You Can Save Yours</a>

Here's The Jaw-Dropping Total JPMorgan Chase Paid To Fight Legal Battles Over Two Years

In an interview with Barron&#8217;s in 2019, celebrated investor Peter Lynch shared his unique perspective on identifying high-potential companies and the significance <a href="https://www.benzinga.com/markets/24/12/42499608/investment-guru-peter-lynch-if-you-cant-explain-to-an-11-year-old-in-2-minutes-or-less-why-you-own-t">of investing in growth stocks.</a>
What Happened: Lynch stressed the importance of understanding a company&#8217;s narrative and investing in stocks that are in the &#8220;second innings of the ballgame.&#8221;
He elaborated that growth stocks, characterized by substantial sales growth, outperform non-growth stocks.
Lynch also noted the success of passive management in asset accumulation, a trend not observed at&nbsp;Fidelity. He highlighted that numerous funds at Fidelity have consistently outperformed their benchmarks over the years.
According to Lynch, the hallmark of a great company is that investors don&#8217;t need to fret about the bigger picture. He used&nbsp;Stop &amp; Shop&nbsp;and&nbsp;Dunkin&#8217; Donuts&nbsp;as examples of thriving local businesses.
Speaking with <a href="https://www.barrons.com/articles/peter-lynch-how-to-find-growth-opportunities-in-todays-stock-market-51576877980">the</a> outlet, Lynch recommended investors to stay in the stock market during the &#8220;second inning of the ballgame&#8221; and exit by the seventh, a period that could span 30 years. He cautioned against drawing conclusions without a solid foundation.
&#8220;My best stocks have been ones where I didn't have to worry about the big picture. A company with a better mousetrap, a growth company in a non-growth industry,&#8221; Lynch said. 
He expressed apprehension about the current scarcity of growth companies and the trend of capital concentration in a handful of firms. 
Also Read: <a href="https://www.benzinga.com/markets/25/01/42935107/peter-lynchs-money-making-advice-when-things-go-from-terrible-to-semi-terrible-to-ok-you-can-make-a-lot-of-money">Peter Lynch&#8217;s Money-Making Advice: &#8216;When Things Go From Terrible to Semi-Terrible to OK, You Can Make a Lot of Money&#8217;</a>
Lynch also touched upon the challenges created by companies remaining private for extended periods, which complicates matters for individual investors.
On the topic of unicorns, Lynch suggested that the next Google might remain private for an additional decade, further complicating the landscape for individual investors. 
Lynch also advised investors to adhere to certain rules, comprehend the story of the company they are investing in, and scrutinize the financials before making an investment.
&#8220;You can see things better. The one thing I want everybody who is buying individual stocks to get is that they have to understand the story, the five reasons something is going to go right for the company. If you can't convince an 8-year-old why you own this thing, you probably shouldn't own it. Don't invest in a company before you look at the financials. If you made it through fifth grade, you can handle the math,&#8221; he said during the interview. 
Why It Matters: Lynch&#8217;s investment philosophy has always centered around understanding the company&#8217;s story and its growth potential. His advice comes at a time when the market is seeing a scarcity of growth companies, and money is increasingly flowing into a select few. 
His insights serve as a reminder for investors to be diligent, understand the companies they invest in, and not be swayed by market trends without a solid basis.
Read Next
<a href="https://www.benzinga.com/news/stock-split/25/01/42804677/investment-guru-peter-lynch-if-you-invest-only-in-an-index-youll-never-beat-it-brushing-up-on-stock-picking-skills-is-wise" target="_blank" rel="noreferrer noopener">Investment Guru Peter Lynch: ‘If You Invest Only in an Index, You'll Never Beat It. Brushing Up on Stock-Picking Skills Is Wise'</a>
Image: Shutterstock

MSFT

Peter Lynch's Advice: 'Don't Invest in a Company Before You Look At the Financials. If You Made It Through Fifth Grade, You Can Handle the Math'

America&#8217;s ageing population does not only show up in a larger proportion of adults nearing or reaching retirement, advisors themselves are also aging out of the business. Yet preparations for how to deal with this shift are at all-time lows in the industry, according to a <a href="https://www.planadviser.com/ria-succession-planning-hits-new-low/">new national survey</a> by consultancy DeVoe &amp; Co.
The firm polled 100 senior RIA executives, principals and owners whose responses reveal that only 42% of advisories have written succession plans in place. That&#8217;s the lowest number since the firm started asking the question in 2019.
While soaring advisory valuations make it less likely that junior employees will be able to buy out founders, consultants at DeVoe point out that succession planning is important not just for economic reasons, but to ensure steady management and reliability. That in turn may increase the value of the advisory even more, which would help founders looking to sell to a competitor and retire.
One big hurdle DeVoe identified is that respondents generally say they&#8217;d prefer to have their companies taken over by internal candidates, though they also report a lack of trust in the next generation. Only one-third say they trust the next generation to take care of their company, another third have medium confidence. The remaining third has none at all.
This suggests there&#8217;s a huge gap in expectations and training between senior advisor executives and partners on the one hand, and their more junior employees on the other. For a smoother transition, better client experience and higher advisory valuation, advisories should consider instituting mentoring and training programs to quickly and internally build up a suite of potential leaders that executives will trust to manage the company.
To enable that, advisories will need to use financial incentives to attract the best advisors so they can be trained for leadership roles. DeVoe&#8217;s survey identifies another gap. Only 49% of respondents said they have a clear plan for compensating advisors, with another 28% saying they give informal direction and 15% saying they give discretionary bonuses. Most respondents would not recommend their company&#8217;s compensation plan to a friend.
This marks a huge opportunity for RIAs. Reworking incentive plans will help hire, cultivate and retain the best talent, as well as ensure a smooth transition for the company.

Financial Advisors

Gaps In RIA Succession Planning Reveal Opportunities

HHS Secretary-designate Robert F. Kennedy Jr.&#8217;s pledge to ban high fructose corn syrup (HFCS) and seed oils has reportedly raised concerns among corn farmers, particularly in key <a href="https://www.benzinga.com/markets/equities/24/11/42254495/trumps-hhs-pick-rfk-jr-has-a-long-history-of-challenging-global-health-policies" target="_blank" rel="noreferrer noopener">Trump-supporting regions like western Ohio</a>.
Corn farming in this area is a major industry, and a significant portion of the crop is used to produce HFCS, a sweetener found in a wide range of processed foods, reports The Guardian.
Kennedy, selected by President-elect Donald Trump to head the Department of Health and Human Services, has been vocal about his desire to reduce the use of HFCS, which he links to health issues like obesity and diabetes.
With about 8% of U.S. corn dedicated to HFCS production, farmers worry that any shift away from this market could drastically impact their incomes.
Experts estimate that up to 1.4 billion bushels of corn could be displaced if a ban is implemented, leading to a potential drop in prices.
Also Read:<a target="_blank" href="https://www.benzinga.com/trading-ideas/long-ideas/25/01/43073652/tesla-apple-meta-and-dogecoin-influencers-see-pattern-for-post-2025-inauguration-rally" rel="noreferrer noopener"> Benzinga Bulls And Bears: Tesla, Apple, Meta And Dogecoin Influencers See Pattern For Post-2025 Inauguration Rally</a>
However, while concerns are real, many farmers in Ohio&#8217;s Darke and Shelby counties, where Trump enjoys strong support, are adopting a &#8220;wait-and-see&#8221; approach, the report adds.
The U.S. Corn Refiners Association, which represents major agribusinesses, declined to comment on the potential impact of Kennedy&#8217;s stance.
Meanwhile, some farmers, like Dan Kelley from Illinois, are more focused on external factors such as global competition and trade tariffs than on Kennedy&#8217;s health-focused policies, The Guardian adds.
Despite Kennedy&#8217;s outspoken views on food reform, experts don&#8217;t expect immediate changes to the HFCS market.
Although corn and seed crops are a significant component of U.S. agriculture, the demand for high fructose corn syrup has dropped by nearly 50% since 1999.
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Equities

RFK Jr. Pledge Could Shatter Corn Industry: Farmers Brace for Impact

House Speaker Mike Johnson says that his first private meeting with President Joe Biden left him deeply concerned, as Biden appeared unaware of an executive order he had recently signed.
What Happened: In an interview with The Free Press, Johnson alleged that Biden's cognitive state and lack of engagement have raised doubts about his leadership. 
Johnson said that he believed that Biden was not actively managing the country and was instead &#8220;signing what others were putting in front of him.&#8221; The order signed by Biden, which paused liquefied natural gas (LNG) exports to Europe, prompted Johnson to ask, "Who is running the country?"
During the discussion, Johnson recalled a January 2022 meeting at the White House. Despite his initial requests for a private meeting with Biden being delayed for months, Johnson said he eventually had a brief one-on-one interaction after an initial session with several Democratic leaders, Vice President Kamala Harris, and a CIA official. 
Biden reportedly asked his advisers to leave the room, allowing the Speaker and the president to speak directly.
Also Read: <a href="https://www.benzinga.com/news/24/02/37054062/democrats-are-reportedly-worried-about-the-narrative-around-joe-bidens-memory-lapses">Democrats Are Reportedly Worried About The Narrative Around Joe Biden&#8217;s Memory Lap ses</a>
According to <a href="https://www.thefp.com/p/when-mike-johnson-knew-joe-biden-not-in-charge">the</a> interview, Johnson shared that he brought up concerns regarding a recent executive order impacting his Louisiana constituents. "I asked him, ‘Mr. President, why did you pause LNG exports to Europe? This is causing massive damage to our economy and helping Russian President Vladimir Putin's war efforts,&#8221; Johnson recounted.
According to the Speaker, Biden appeared confused and denied signing such an order. Johnson pressed further, insisting the president had indeed issued the directive, which Biden reportedly attributed to a study on LNG impacts rather than a ban.
"It occurred to me he genuinely did not know what he had signed," Johnson said, describing the encounter as unsettling. He added, "I walked out of that meeting with fear and loathing because I thought, ‘We're in serious trouble.'"
In January 2024, the White House announced a temporary halt on pending LNG export approvals, citing its climate agenda as the primary reason. 
The decision has faced criticism from energy industry stakeholders and lawmakers, particularly from regions reliant on LNG exports.
On Saturday, Elon Musk responded to Johnson&#8217;s statement and said Biden was not in charge.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">As I said a few years ago, Biden was not in charge. Whoever controlled his teleprompter was. <a href="https://t.co/kzwQpWlzx8">https://t.co/kzwQpWlzx8</a>
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1880674586486067387?ref_src=twsrc%5Etfw">January 18, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Read Next
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Image: Shutterstock

Speaker Johnson Raises Doubts Over Biden's Awareness of His Own Executive Orders: 'Who Is Running the Country?'

Let's talk about <a href="https://www.benzinga.com/personal-finance/24/09/41075540/is-your-401-k-balance-above-average-find-out-if-youre-beating-most-savers">your nest egg</a>. No, not in a "Why haven't you saved more?" way – this isn't a guilt trip. Instead, think of this as a friendly check-in. Whether your savings are soaring or just getting off the ground, it's natural to wonder: How do I measure up? And for those of you eyeing the <a href="https://www.benzinga.com/personal-finance/24/10/41127976/are-you-a-rich-retiree-heres-the-net-worth-and-income-you-need-to-be-in-the-top-10">top 10% of retirement savers</a>, these numbers will show you exactly what it takes.
Spoiler: It's not all doom and gloom; there's always time to make moves. Let's break it down.
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<li>The average American couple has saved this much money for retirement —<a href="http://www.benzinga.com/money/smartasset"> How do you compare</a>?</li>
<li>Can you guess how many Americans successfully retire with $1,000,000 saved?<a href="https://www.benzinga.com/money/1milsaved"> The percentage may shock you</a>.</li>
</ul>
The Averages: Are You Ahead or Behind?
First, let's look at what the average American has saved for retirement by age group. According to the 2022 Survey of Consumer Finances, here's where things stand:
<h2 class="wp-block-heading">Average Retirement Savings by Age Group</h2>
Under 35:
• Average savings: $49,130
• Median savings: $18,880
Ages 35-44:
• Average savings: $141,520
• Median savings: $45,000
Ages 45-54:
• Average savings: $313,220
• Median savings: $115,000
Ages 55-64:
• Average savings: $537,560
• Median savings: $185,000
Ages 65-74:
• Average savings: $609,230
• Median savings: $200,000
75 and older:
• Average savings: $462,410
• Median savings: $130,000
If you're beating these averages, that's worth celebrating! But maybe you're eyeing the next level – joining the top 10%. What does that look like?
See Also: <a href="https://www.benzinga.com/money/qnetic-2">This 12,000 RPM Spinning Battery With Over $100 Million In LOIs Could Be The Missing Link For Green Energy — Here&#8217;s Why Early Investors Are Flocking To Invest Before Funding Closes</a>
The Top 10%: Where the Big Savers Are
The top 10% of retirement savers are in a league of their own. Here's what it takes to join their ranks:
Median savings: Around $900,000.
Average savings: Roughly $1.3 million.
It's important to mention the average is higher because a few ultra-wealthy savers skew the numbers, while the median shows what most people have.
By age 50, the top 10% of savers often have over $500,000 tucked away.
By 55, they're typically closing in on $750,000 or more.
And the crème de la crème? The <a href="https://www.benzinga.com/personal-finance/24/04/38525546/are-you-on-track-to-join-the-top-1-in-retirement-savings-heres-how-much-they-have-at-every-age">top 1% boast savings of $2.3 million</a>. But, when considering a broader definition of retirement assets, the number soars to $5 million, according to data from DQYDJ, using stats from the Federal Reserve.
What Should You Aim For?
Even if the top 10% feels far off, financial experts offer benchmarks to keep you on track for a comfortable retirement:
• Age 30: Save 1x your annual salary.
• Age 40: 3x your salary.
• Age 50: 6x your salary.
• Age 60: 8x your salary.
• Age 67: 10x your salary.
These milestones aren't hard rules – life happens. But they're a good starting point to see where you stand.
Trending: Many are using retirement income calculators to check if they&#8217;re on pace —<a href="https://www.benzinga.com/money/how-do-i-calculate-my-retirement-income-adv"> here&#8217;s a breakdown on what&#8217;s behind this formula.</a>
Want to Boost Your Savings? Here's How
If your savings feel a little underwhelming, don't stress. There are plenty of ways to catch up:
1. Max out retirement contributions: Contribute as much as possible to your 401(k) or IRA. And if your employer offers a match, grab that free money!
2. Start saving early: The earlier you start, the more compound interest works in your favor. If you're late to the game, don't worry – you can still catch up.
3. Take advantage of catch-up contributions: For those over 50, you can sock away an additional $7,500 annually in your 401(k). Starting in 2025, individuals aged 60-63 can save up to $11,250.
4. Cut unnecessary expenses: Redirect what you save toward your retirement fund. <a href="https://www.benzinga.com/personal-finance/24/07/39989781/suze-orman-reveals-the-one-expense-you-must-cut-in-retirement-the-very-last-thing-i-would-think-">Small sacrifices now</a> can lead to big wins later.
5. <a href="https://www.benzinga.com/personal-finance/24/11/41726342/can-you-guess-what-asset-the-ultra-wealthy-invest-in-most-heres-a-hint-its-not-stocks">Diversify your investments</a>. A mix of stocks, bonds and other assets can balance risk and grow your nest egg.
It's Not Too Late to Make Moves
If you're behind, don't panic – it's never too late to start. Whether you're playing catch-up in your 50s or just starting in your 20s, every little bit counts. The key is consistency and making smart financial choices now to give your future self a leg up.
So, how does your nest egg stack up? If you're already ahead of the averages, you're in a great spot. And if not, now's the perfect time to <a href="https://www.benzinga.com/money/are-you-rich">build a plan</a> and take control of your financial future. Remember, retirement savings aren't about perfection – they're about progress.
&#x2A;This information is not financial advice and personalized guidance from a financial adviser is recommended for making well-informed decisions.
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Personal Finance

How Does Your Nest Egg Stack Up? Here's What It Takes To Be In The Top 10% Of Retirement Savers

American workers are increasingly trading higher salaries for the ability to work from home, marking a shift in how employees value workplace flexibility versus compensation.
Half of U.S. workers would accept a pay cut to work remotely, with 26% willing to take a 5% reduction and 24% open to cuts of 10% or even 15%, according to a FlexJobs survey cited by Newsweek. Some workers would give up more than money – 23% would <a href="https://www.benzinga.com/general/24/03/37969308/fyi-fully-remote-workers-are-more-likely-to-be-passed-up-for-promotion">forgo professional development opportunities</a>, while others would sacrifice vacation days or health insurance benefits.
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<li>According to Juniper Research, the total value of B2B cross-border payments stored on the blockchain is projected to exceed $4.4 trillion — <a href="https://www.benzinga.com/money/web3-enabler-future-of-enterprise-transactions">Join the first company to bring blockchain payments to Salesforce early with just $100.</a></li>
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&#8220;There&#8217;s this unspoken exchange rate between flexibility and compensation and for some candidates, it&#8217;s worth a significant trade-off,&#8221; Theresa L. Fesinstine, founder of peoplepower.ai, told Fortune.
This shift comes as employers and employees wrestle over return-to-office mandates.&nbsp;
Companies have responded by increasingly using remote work as a bargaining chip, while <a href="https://www.benzinga.com/personal-finance/25/01/42899482/73-of-execs-want-you-back-in-the-office-heres-why-and-how-it-impacts-the-economy">others demand a return to in-office work</a>. The HR firm Robert Half reports that 35% of new job postings in last year&#8217;s third quarter offered remote or hybrid options, up from 30% the previous year.
&#8220;While some employers are requiring workers to come back to the office full- or part-time, flexibility remains a leading factor influencing workers&#8217; decisions to stay in their current roles or seek new opportunities,&#8221; Robert Half&#8217;s district president Michelle Reisdorf told Newsweek.
See Also: Inspired by Uber and Airbnb &#8211; Deloitte's fastest-growing software company is transforming 7 billion smartphones into income-generating assets &#8211; <a href="https://www.benzinga.com/money/mode-mobile-2">with $1,000 you can invest at just $0.26/share!</a>
The trade-off between salary and flexibility might be financially rational for some workers. Dr. Alison Collins of Manchester Metropolitan University Business School notes that reduced commuting costs could offset salary reductions of around 10%.
Looking ahead, the dynamic may shift again.&nbsp;
Robert Half projects a hiring boom in 2025, with 63% of companies planning to add positions in the year&#8217;s first half. The increased competition for talent could force employers to offer both flexibility and competitive pay.
The trend reveals deeper changes in how Americans view work-life balance post-pandemic. For many, the ability to work from home has become a benefit worth paying for – even if it means accepting a smaller paycheck.
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Why Americans Are Accepting Pay Cuts For Remote Jobs – And What It Means For The Economy

Sonos Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SONO#NASDAQ">SONO</a>) is grappling with the most severe crisis in its history in the aftermath of a catastrophic software rollout last year. Bloomberg columnist Mark Gurman says that several tech giants could potentially save the digital speaker company, with most speculation centering on a possible acquisition by Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>).
What Happened: In his latest Power On newsletter, Gurman <a href="https://www.benzinga.com/news/management/25/01/42947823/sonos-shares-jump-after-company-announces-ceo-transition-the-details">writes</a> that Sonos launched a revamped app last May that was intended to refresh the Sonos experience and pave the way for new products. However, the app was riddled with bugs and missing key features, leading to significant user dissatisfaction and tarnishing the brand&#8217;s image.
Six months post the app&#8217;s launch, the company bid farewell to CEO Patrick Spence and its chief product officer. Tom Conrad, Pandora&#8217;s co-creator and a former executive at Snap Inc., has stepped in as the interim CEO.
With Sonos&#8217; market valuation plummeting to approximately $1.7 billion from over $5 billion, the board is contemplating whether selling the company might be a feasible solution. Apple, given its similar emphasis on premium design and audio technology, is viewed as a potential buyer.
Other possible buyers include:
<ul>
<li>Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), which Gurman says &#8220;seems like the most natural fit,&#8221;</li>
<li>Samsung Electronics Co. (KRX: 005930), a possible &#8220;wild card,&#8221;</li>
<li>Roku Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ROKU#NASDAQ">ROKU</a>), though it &#8220;would probably face antitrust concerns,&#8221; and </li>
<li>Spotify Technology SA (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPOT#NYSE">SPOT</a>), which &#8220;has long wanted to get into hardware but struggled to make it happen.&#8221;</li>
</ul>
Despite the rumors, many within Sonos are of the opinion that Conrad may become the permanent CEO if he is open to accepting the role.
Why It Matters: The turmoil at Sonos began with the departure of CEO Patrick Spence. The company&#8217;s shares took a hit following the announcement of the CEO transition.
The subsequent software debacle further eroded the company&#8217;s market value, leading to the current speculation about a potential sale.
The outcome of this crisis could significantly impact the future of Sonos and its stakeholders.

Tech

AAPL

AMZN

ROKU

SONO

SPOT

Could Cupertino Save Struggling Sonos? Speculation About Apple Bid Abounds

Anthony Scaramucci has expressed his disapproval of President-elect Donald Trump&#8216;s newly launched meme coin TRUMP (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">TRUMP</a>), <a href="https://www.benzinga.com/news/24/08/40666453/scaramucci-trump-is-in-trouble-and-he-knows-it-slams-him-on-conflicting-abortion-statements-hes-shot">labeling it &#8220;corruption.&#8221;</a>
What Happened: On Saturday, Trump announced the launch of his official &#8220;$TRUMP&#8221; meme coin. The coin, which was developed by Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>), has received a substantial market response, with its price escalating from $0.18 to $26.95, marking&nbsp;a 253.75 percent increase in&nbsp;just 24 hours. 
The coin&#8217;s market cap then reached to a staggering $5.39 billion.
Responding to the launch of TRUMP meme coin, Scaramucci criticized the venture on X and referred to&nbsp;it as &#8220;corruption&#8221; and &#8220;bad&nbsp;for the industry.&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The Trump meme coin stuff is bad for the industry. Don't delude yourself. It's Idi Amin level corruption.
&mdash; Anthony Scaramucci (@Scaramucci) <a href="https://twitter.com/Scaramucci/status/1880570676043727354?ref_src=twsrc%5Etfw">January 18, 2025</a></blockquote>
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</figure>
This is not Trump&#8217;s first foray into selling merchandise featuring his image. He has previously sold items such as digital trading cards, high-top sneakers, T-shirts, and Bibles. 
Also Read: <a href="https://www.benzinga.com/news/24/11/41866624/scaramucci-on-trump-win-i-got-it-wrong-im-not-going-to-whine-about-it">Scaramucci On Trump Win: &#8216;I Got It Wrong, I&#8217;m Not Going To Whine About It&#8217;</a>
His niece Mary Trump has accused him in the past of &#8220;grifting&#8221; through the sale of such merchandise. The meme coin was launched just days before Trump&#8217;s inauguration as president.
Why It Matters: The launch of the &#8220;$TRUMP&#8221; meme coin and its subsequent market response is indicative of the growing influence of cryptocurrencies. However, the criticism from Scaramucci, a former aide and industry insider, raises questions about the ethical implications of such ventures. 
This incident underscores the need for clear regulations and transparency in the cryptocurrency industry to prevent potential misuse and ensure investor protection.
Read Next
<a href="https://www.benzinga.com/news/24/11/42254953/scaramucci-on-trump-deportation-plan-were-going-to-have-a-stock-market-crash">Scaramucci on Trump Deportation Plan: &#8216;We&#8217;re Going To Have a Stock Market Crash&#8217;</a>
Image: Shutterstock

Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

Cryptocurrency

$SOL

$TRUMP

Scaramucci Criticizes Donald Trump's Meme Coin Launch: 'Idi Amin-Level Corruption'

As Donald Trump prepares to return to the White House, one person who won&#8217;t accompany him this time is his daughter Ivanka and her husband, Jared Kushner. The mainstays of the last Trump presidency are done with politics.&nbsp;
The couple relocated to Florida in 2021 and will stay in Miami when Trump Sr. leaves Palm Beach nearby for DC. Speaking on the &#8220;The Skinny Confidential&#8221; podcast, Ivanka candidly stated that she &#8220;hates politics&#8221; and the &#8220;darkness&#8221; surrounding &#8220;that world.&#8221;
Don't Miss:
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<li>CEO of Integris gathered a team of senior investment managers who have $34.22 billion in combined owned and managed assets in the West Coast —<a href="https://www.benzinga.com/money/integris"> here&#8217;s how to invest in their private credit fund that targets 12% annual interest rate.</a></li>
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<h2 class="wp-block-heading">A New Home And A New Life</h2>
Added the former and soon-to-be-first daughter: &#8220;The main reason I am not going back to serve now is, I know the cost,&#8221; she told podcast hosts Lauryn Bosstick and Michael Bosstick. &#8220;And it&#8217;s a price that I&#8217;m not willing to make my kids bear. My primary goals were just to, like, be the best freaking mom. Every time I had to miss something, I&#8217;m like, &#8216;I will never let this happen again in the minute I leave the White House.&#8217; I feel super great about this decision.&#8221;
Helping her decide to stay put was undoubtedly her $24 million megamansion on Miami&#8217;s Indian Creek Island. She and <a href="https://www.benzinga.com/news/24/12/42645558/jared-kushner-distances-himself-from-father-in-laws-political-influence-in-the-event-that-trump-was-elected-they-should-not-expect-anything-from-me">Jared </a>purchased the six-bedroom, 8.5-bathroom compound in April 2021. The property has a private boat dock and striking views of Biscayne Bay.
<h2 class="wp-block-heading">The Kushners Exploded Their Wealth By Divesting Debt-Ridden Glamor Properties</h2>
Although Jared Kushner temporarily left the family business to serve as an advisor to Trump&#8217;s White House in 2016, the Kushners&#8217; real estate empire has been thriving, growing the family&#8217;s wealth from <a href="https://www.benzinga.com/real-estate/24/11/41898236/the-kushners-real-estate-empire-now-surpasses-trumps-heres-how-it-grew-from-1-8-billion-to-7-1-billion-since-2016">$1.8 billion in 2016 to $7.1 billion in 2024</a>. So how did they do it?
See Also: Unlock the hidden potential of commercial real estate —<a href="https://equitymultiple.com/benzinga?invite=benzinga&amp;utm_campaign=product-promotion-earn&amp;utm_source=yahooFinance&amp;utm_medium=affiliate&amp;utm_content=unlockboost-yahoo"> This platform allows individuals to invest in commercial real estate offering a 12% target yield with a bonus 1% return boost today!</a>
The Kushners – Charles Kushner, the head of the family and his wife Seryl, own 20% of the real estate firm, with the rest split among their four children: Jared, Nicole, Josh and Dara – made some astute business moves with their portfolio. In 2018, one of their main holdings, 666 Fifth Avenue, was mired in debt. They sold that property, alleviating themselves of debt and stepping away from riskier New York-based investments. Instead, they diversified, buying apartment complexes in New Jersey, Miami and other parts of the South, swelling their portfolio to &#8220;over 27,000 units in 15 states,&#8221; according to a statement by CEO Laurent Morali to Forbes.&nbsp;
<h2 class="wp-block-heading">Seizing The Need For Affordable Housing</h2>
The Kushners hitched their business wagon to a sorely needed commodity: <a href="https://www.benzinga.com/markets/25/01/42804597/housing-affordability-crisis-prices-wont-fall-without-a-40-drop-or-a-70-wage-boost">affordable housing,</a> focusing on areas of the country with booming populations, such as the Sunbelt. While their portfolio might not contain the glamorous New York properties it once did, these days, it comprises solidly performing apartment buildings that produce substantial cash flow. The Kushner family is now worth an estimated $7.1 billion.&nbsp;
Trending: Maker of the $60,000 foldable home has 3 factory buildings, 600+ houses built, and big plans to solve housing —<a href="https://www.benzinga.com/money/boxabl-y2"> you can become an investor for $0.80 per share today.</a>
Jared&#8217;s net worth has soared thanks to his controversial, Saudi-backed private equity firm Affinity Partners, which he set up in the Miami suburb of Sunny Isles Beach in January 2021, the same month his father-in-law left the White House and settled at Mar-a-Lago. According to Forbes,
&#8220;Jared Kushner has raised $2 billion from Saudi Arabia&#8217;s $925 billion sovereign wealth fund and more than $400 million in investments from wealth funds in Qatar and Abu Dhabi. Roughly $600 million in additional funds came from an unnamed investor and Taiwanese billionaire Terry Gou, whose Foxconn makes the majority of the world&#8217;s iPhones.&#8221;
Despite this, Forbes notes that Jared's brother Josh is the wealthiest, thanks to his successful investments in tech startups like Instagram and OpenAI.
Read Next:
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<li>This Jeff Bezos-backed startup will allow you to <a href="https://arrivedhomes.go2cloud.org/aff_c?offer_id=15&amp;aff_id=1006&amp;aff_sub=yahoo&amp;aff_sub2=byerscta100">become a landlord in just 10 minutes, with minimum investments as low as $100 for properties like the Byer House from Stranger Things.</a></li>
<li>Commercial real estate has historically outperformed the stock market, and<a href="https://equitymultiple.com/benzinga?invite=benzinga&amp;utm_campaign=product-promotion-earn&amp;utm_source=yahooFinance&amp;utm_medium=affiliate&amp;utm_content=stockmarket-yahoo"> this platform allows individuals to invest in commercial real estate with as little as $5,000 offering a 12% target yield with a bonus 1% return boost today!</a></li>
</ul>

Real Estate

Ivanka Trump And Jared Kushner Won't Trade Their $24 Million Miami Mansion For The White House. Here's How They Made Their Money

The ceasefire between Israel and Hamas has commenced after a slight delay with the release of three Israeli hostages by Hamas.
What Happened: The ceasefire was scheduled to start early Sunday morning but was postponed as Israeli Prime Minister&nbsp;Benjamin Netanyahu&nbsp;alleged that Hamas had not delivered on its commitment to reveal the identities of the hostages set for release. 
Despite this, three hostages were freed&nbsp;from Gaza on the first&nbsp;day of the ceasefire, after enduring 471 days in captivity.
Israeli forces verified that the hostages had entered Israel, with the military circulating footage of the freed hostages crossing into Israeli territory, <a href="https://apnews.com/article/israel-palestinians-hamas-war-news-ceasefire-hostages-01-19-2025-437f7f1bf49c9d2936718cf78bdf272c">reports</a> the Associated Press.
Simultaneously, ambulances and trucks loaded with humanitarian aid were stationed at the Egyptian border, prepared to enter the Gaza Strip. An Israeli airstrike claimed at least eight lives&nbsp;in the Gaza Strip following&nbsp;the delay in the ceasefire.
Also Read: <a href="https://www.benzinga.com/news/24/01/36443957/israeli-military-initiates-partial-gaza-withdrawal-amid-economic-challenges">Israeli Military Initiates Partial Gaza Withdrawal Amid Economic Challenges</a>
Despite the delay and the airstrike, Gaza saw celebrations of the ceasefire.&nbsp;A Red Cross convoy was&nbsp;spotted in the Gaza Strip, presumably en route to collect&nbsp;the first Israeli hostages in&nbsp;the territory.
However, the ceasefire was not without its share of devastation. Aerial footage revealed the damage inflicted on&nbsp;the city of Khan Younis&nbsp;in the Gaza Strip due to the 15-month-long battle between Israel and Hamas.
As per the ceasefire agreement, three female hostages were to be released on the first day, with&nbsp;an additional four female hostages&nbsp;set to be freed&nbsp;on the seventh day of&nbsp;the agreement.
Why It Matters: The ceasefire and the release of hostages mark a significant step towards peace after a prolonged period of conflict. The release of hostages, in particular, is a critical aspect of the agreement, demonstrating both sides&#8217; commitment to the ceasefire. 
However, the devastation caused by the 15-month war underscores the long road to recovery that lies ahead for both Israel and Gaza. 
The humanitarian aid waiting at the Egyptian border highlights the immediate needs of the people affected by the conflict.
Read Next
<a href="https://www.benzinga.com/news/24/10/41196317/trump-urges-israel-to-target-iran-nuke-sites-hit-nuclear-first-and-worry-about-the-rest-later">Trump Urges Israel To Target Iran Nuke Sites: &#8216;Hit Nuclear First And Worry About The Rest Later&#8217;</a>

Global

Three Hostages Cross Into Israeli Territory After 471 Days as Ceasefire Begins

TikTok came back online in the U.S. shortly after 12:00 p.m. ET, two hours after President-elect Donald Trump said on social media that he will sign an executive order Monday postponing enforcement of the new law requiring the sale of the Chinese-owned platform.
What Happened: As <a href="https://www.axios.com/2025/01/19/trump-tiktok-ban-delay-executive-order">reported</a> by Axios, Trump, who was once at the forefront of the campaign to ban TikTok, is now championing its survival. Trump wrote on Truth Social, &#8220;I will issue an executive order on Monday to extend the period of time before the law&#8217;s prohibitions take effect, so that we can make a deal to protect our national security.&#8221;
US users of the popular video app began finding that access had been restored shortly after noon on the East Coast.
Trump&#8217;s post indicated that the order would absolve any company that assisted in keeping TikTok operational prior to his order from any liability. He voiced his aspiration for the US to secure a &#8220;50% ownership position&#8221; in a joint venture to rescue TikTok. &#8220;By doing this, we save TikTok, keep it in good hands and allow it to [stay] up.&#8221;
However, the specifics of Trump&#8217;s plan, including whether he intends for the US government or a US company to hold this 50% stake, and how he aims to circumvent the law, remain ambiguous, as an executive order cannot supersede it.
The law, signed by President Joe Biden in April, mandated TikTok&#8217;s parent company, ByteDance, to sell the app to an approved buyer by January 19 to evade a ban. The law does allow for the president to initiate a 90-day extension, but only if substantial progress towards divestiture is made and binding legal agreements are in place to facilitate a deal.
Why It Matters: Trump&#8217;s unexpected move to delay the TikTok ban and his proposition for a US stake in the app marks a significant shift in his stance.

TikTok Back Online In US After Trump Vows Monday Executive Order

Zoox, Inc., a robotaxi company owned by Amazon.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), plans to launch robotaxi service in<a href="https://www.benzinga.com/tech/24/12/42432683/teslas-autopilot-hardware-director-zheng-gao-leaves-ev-giant-to-join-amazons-zoox"> Las Vegas in 2025.&nbsp;</a>
The Details: Zoox plans to offer its robotaxi service "quite soon," Zoox's co-founder and chief technology officer Jesse Levinson<a href="https://www.cnbc.com/2025/01/17/amazon-zoox-plans-commercial-expansion.html"> told</a> CNBC. Levinson said Zoox plans to launch an "Early Rider Program" in Las Vegas in the next few months and open its autonomous vehicle ride-hailing service to the general public later this year.&nbsp;
Read Next: <a href="https://www.benzinga.com/general/health-care/25/01/43041254/unitedhealth-ceo-highlights-hospitals-doctors-pharmas-role-in-soaring-health-care-costs">UnitedHealth CEO Highlights Hospitals, Doctors, Pharma&#8217;s Role In Soaring Health Care Costs</a>&nbsp;
"I don't want to imply that it'll be a commercially meaningful business this year … but it's going to be useful in terms of customers will be able to get value out of it and actually use it to go places. We're excited for that," Levinson said.&nbsp;
"We've taken a pretty conservative and steady approach to scaling and rolling out, just because of the safety-critical nature," he added.&nbsp;
The company was founded in 2014 and acquired by Amazon in 2020 for more than $1.2 billion. Zoox's vehicles have been designed as driver-less from the start and have no steering wheel, pedals or driver's seat. The vehicles are symmetrical and bidirectional and can seat up to four passengers.&nbsp;
Zoox has been testing its driver-less vehicles in Las Vegas since 2023 and began testing in San Francisco last November. Zoox has pegged San Francisco as its next expansion and Levinson said the company also has plans to expand to Miami and Austin, Texas.&nbsp;&nbsp;
"Hopefully by the end of this decade, if you're in most of the major cities in the U.S., this will be your favorite way to get around," Levinson said.
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/news/legal/25/01/42979220/biden-announces-more-student-loan-forgiveness-bringing-debt-relief-to-nearly-5-million-borrowers">Biden Announces More Student Loan Forgiveness, Bringing Debt Relief To Nearly 5 Million Borrowers</a></li>
</ul>
Image: Courtesy of Zoox, Inc.

Large Cap

Travel

Amazon's Zoox Plans To Launch Robotaxi Service This Year

President-elect Donald Trump&#8216;s Saturday launch of the meme coin TRUMP (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">TRUMP</a>) has caused a stir in both the crypto industry and among government watchdogs.
What Happened: The meme coin&#8217;s market value soared to $5.6 billion within just 24 hours of the launch, suggesting a potential financial boon for entities linked to Trump.
The token, which provides direct financial advantages to the president-elect's family, has drawn immediate backlash from government watchdogs. They perceive it as a violation of ethical standards and a way for the president-elect to monetize his international prestige.
The TRUMP meme coin, unlike other digital assets, is not tied to any underlying business. This makes it a highly speculative investment for investors and potentially extremely lucrative for its creators. 
As per the <a href="https://www.benzinga.com/pro/">Benzinga Pro</a> data, the meme coin&#8217;s market value reached $14.2 billion early Sunday, nearly tripling from $4.9 billion just 12 hours prior.
The meme coins started selling for $10 each before soaring to as high as about $70 as of Sunday morning.
At the time of writing TRUMP was trading at $56.02, up by almost 95% in the last 24 hours. 
According to a report <a href="https://www.bloomberg.com/news/articles/2025-01-19/trump-s-memecoin-creates-billions-from-thin-air-before-dc-return?sref=TBDibEcD">by </a>Bloomberg, CIC Digital LLC, an affiliate of the Trump Organization, and a related entity, Fight Fight Fight LLC, own an 80% share of the digital asset. These holdings will be gradually unlocked over a span of three years.
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/25/01/43074504/crypto-firms-donate-millions-to-trump-inaugural-fund-host-unofficial-ball-featuring-snoop-dogg">Crypto Firms Donate Millions to Trump Inaugural Fund, Host Unofficial Ball Featuring Snoop Dogg</a>
"$Trump&nbsp;is currently the hottest digital meme on earth,"&nbsp;Eric Trump&nbsp;wrote on X. 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">I am extremely proud of what we continue to accomplish in crypto. <a href="https://twitter.com/search?q=%24Trump&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$Trump</a> is currently the hottest digital meme on earth and I truly believe that <a href="https://twitter.com/worldlibertyfi?ref_src=twsrc%5Etfw">@WorldLibertyFi</a> will revolutionize DeFi/Cefi and will be the future of finance. We are just getting started! &#x1f680;&#x1f680; <a href="https://t.co/YzdxoCWrKV">https://t.co/YzdxoCWrKV</a>
&mdash; Eric Trump (@EricTrump) <a href="https://twitter.com/EricTrump/status/1880670273768435759?ref_src=twsrc%5Etfw">January 18, 2025</a></blockquote>
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</figure>
The official meme coin website <a href="https://gettrumpmemes.com/#tokenomics">says</a> that their holdings will unlock over a three-year period, with 200 million tokens available immediately and 1 billion in circulation over the next three years.
Despite the controversy surrounding its launch, the crypto industry, which felt unjustly targeted under President Joe Biden administration, has welcomed the new meme coin. Crypto companies reportedly&nbsp;spent $10 million on Trump's&nbsp;inauguration, indicating their support for the incoming administration.
Why It Matters: The launch of the Trump meme coin is a significant event in the crypto industry. It represents a shift in the relationship between politics and cryptocurrency, with a high-profile political figure directly benefiting from a digital asset. 
This move could potentially influence future political and financial strategies, as well as regulatory approaches to cryptocurrency. 
However, the controversy surrounding the launch also highlights the ethical concerns and potential conflicts of interest that can arise when political figures engage in such ventures.
Read Next
<a href="https://www.benzinga.com/25/01/43074520/solana-skyrockets-sees-15-surge-following-launch-of-trump-themed-meme-coin">Solana Skyrockets, Sees 15% Surge Following Launch Of Trump-Themed Meme Coin</a>
Image: Shutterstock

Donald Trump's Meme Coin 'TRUMP' Rallies 103% in a Day, Creates Billions Out of Thin Air

Blaine Anderson, the CEO of online dating coaching company Dating by Blaine, has detailed why she declined an offer from billionaire Mark Cuban after initially accepting the deal on &#8220;Shark Tank.&#8221;
What Happened: Anderson&#8217;s company, which provides online dating courses and personalized coaching, was pitched on the ABC reality TV show. Anderson initially sought $100,000 for a 2% stake in her company, which would have valued it at $5 million.
Founded in 2020 after Anderson lost her job due to the pandemic, the company has since generated over $2.2 million in sales, with a profit of around $500,000 on sales worth $1 million in 2022.
According to a report <a href="https://www.businessinsider.com/shark-tank-mark-cuban-blaine-anderson-dating-startups-investing-deals-2025-1">by</a> Business Insider, despite initial interest from the Sharks, Anderson&#8217;s inability to provide detailed revenue breakdowns led to some Sharks dropping out.
However, with assistance from Shark Barbara Corcoran, Anderson struck a deal with Cuban&nbsp;for $100,000 in exchange for&nbsp;a 10% stake, reducing the company&#8217;s valuation to $1 million.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">On set, I'm nervous AF, and black out most of filming. What I remember is: — The guest Shark, Michael Rubin, wanted NOTHING to do with me — Kevin wanted to invest, and I knew I didn&#39;t want that — Barbara hooked up my deal up with Mark You film for 40 minutes, and there are NO…
&mdash; Blaine Anderson (@datingbyblaine) <a href="https://twitter.com/datingbyblaine/status/1879718662464045543?ref_src=twsrc%5Etfw">January 16, 2025</a></blockquote>
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</figure>
Although the deal was agreed upon on the show, Anderson later decided not to proceed with Cuban&#8217;s investment, citing the complications of having an external investor as the reason for her decision.
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/25/01/42935597/mark-cuban-advocates-bitcoin-over-gold-during-economic-turmoil-i-think-it-has-more-value-than-gold">Mark Cuban Advocates Bitcoin Over Gold During Economic Turmoil: &#8216;I Think It Has More Value Than Gold&#8217;</a>
&#8220;Mark is down to earth, easy to work with, shockingly accessible, super smart, and funny. He cares about his entrepreneurs, and I&#8217;d be glad to work with him someday,&#8221; she said. 
Why It Matters: Anderson&#8217;s decision to reject Cuban&#8217;s investment highlights the challenges faced by entrepreneurs when considering external investments. While such investments can provide much-needed capital, they can also introduce complexities and potential conflicts of interest.
Anderson&#8217;s experience also underscores the importance of entrepreneurs being able to provide detailed financial information about their companies. Her inability to provide a detailed revenue breakdown was a significant factor in some Sharks&#8217; decision to drop out.
Despite the setback, Anderson remains optimistic about the future of her company and expressed a desire to work with Cuban in the future. Her experience serves as a reminder to other entrepreneurs of the importance of being prepared and understanding the potential implications of external investments.
Read Next
<a href="https://www.benzinga.com/general/sports/25/01/42803678/mark-cuban-on-selling-dallas-mavericks-stake-i-didnt-want-my-kids-feeling-the-pressure-of-walking-into-my-spot">Mark Cuban on Selling Dallas Mavericks Stake: &#8216;I Didn&#8217;t Want My Kids Feeling the Pressure of Walking Into My Spot&#8217;</a>
Image: Shutterstock

Success Stories

Startups

Dating Coach Shares Why She Walked Away From a Deal With Mark Cuban

<a href="https://www.benzinga.com/topic/snoop-dogg">Snoop Dogg</a> rattled the core of his fan base <a href="https://www.benzinga.com/markets/cryptocurrency/25/01/43074504/crypto-firms-donate-millions-to-trump-inaugural-fund-host-unofficial-ball-featuring-snoop-dogg">after performing at the first-ever inaugural Crypto Ball</a> Friday, part of the weekend celebrations leading up to President-elect Donald Trump's Monday inauguration.
The Washington, D.C. event, hosted by <a href="https://www.benzinga.com/topic/david-sacks">David Sacks</a>, former COO of PayPal (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PYPL#NASDAQ">PYPL</a>) who <a href="https://www.benzinga.com/24/12/42356067/venture-capitalist-david-sacks-appointed-as-white-house-ai-crypto-czar-by-trump" target="_blank" rel="noreferrer noopener">Trump appointed</a> to serve as the White House AI &amp; crypto czar, was attended by about 1,500 people, including executives from crypto companies such as <a href="https://www.benzinga.com/topic/crypto-com">Crypto.com</a>, <a href="https://www.benzinga.com/topic/kraken">Kraken</a> and <a href="https://www.benzinga.com/24/12/42569133/crypto-wallet-provider-exodus-makes-wall-street-debut-shares-pop-37">Exodus</a> (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/EXOD#AMEX">EXOD</a>), <a href="https://www.reuters.com/world/us/with-cocktails-snoop-dogg-crypto-industry-celebrates-trump-inauguration-2025-01-18/">reported</a> Reuters. 
Trump, who did not attend the gala, is expected to <a href="https://www.benzinga.com/25/01/43073027/trump-plans-crypto-friendly-executive-orders-in-early-days-of-presidency-report">issue executive orders</a> next week aimed at fostering a more favorable environment for cryptocurrency companies. 
<h2 class="wp-block-heading">&#8216;Make Bitcoin Great Again&#8217;</h2>
Swag included &#8220;Make Bitcoin Great Again&#8221; baseball caps and flag pins with the symbol for <a href="https://www.benzinga.com/topic/gemini">Gemini</a>, an event sponsor and crypto exchange founded by Cameron and Tyler Winklevoss. Reuters reported that other sponsors included the digital asset division of Robinhood (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOOD#NASDAQ">HOOD</a>)<a href="https://www.reuters.com/markets/companies/HOOD.O" target="_blank" rel="noreferrer noopener">,</a> MicroStrategy and Crypto.com. 
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Snoop, a voracious <a href="https://www.benzinga.com/markets/cannabis/24/07/39733952/snoop-dogg-to-open-weed-stores-in-la-amsterdam-named-after-iconic-smoke-weed-every-day-motto">cannabis consumer</a>, was filmed as the DJ playing songs like Bob Marley's &#8220;Three Little Birds (Don't Worry About a Thing), <a href="https://www.foxnews.com/entertainment/snoop-dogg-wows-trump-inauguration-crypto-ball-bob-marley-song">reported</a> Fox News. He also performed a few of his own tunes, including, &#8220;Drop It Like It's Hot.&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">BREAKING: Snoop Dogg has gone full-blown <a href="https://twitter.com/hashtag/MAGA?src=hash&amp;ref_src=twsrc%5Etfw">#MAGA</a> performing at Trump's Crypto Ball <a href="https://twitter.com/hashtag/Trump?src=hash&amp;ref_src=twsrc%5Etfw">#Trump</a> <a href="https://twitter.com/hashtag/Inauguration?src=hash&amp;ref_src=twsrc%5Etfw">#Inauguration</a> <a href="https://t.co/g6TH2H0cmD">pic.twitter.com/g6TH2H0cmD</a>
&mdash; Fiona Moriarty (@factswithfiona) <a href="https://twitter.com/factswithfiona/status/1880480621874803051?ref_src=twsrc%5Etfw">January 18, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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<h2 class="wp-block-heading">Trump Vs. Snoop, Now ‘Love And Respect'</h2>
In a March 2017 video <a href="https://hightimes.com/culture/music/trump-freaks-out-over-snoop-doggs-new-video-and-its-priceless/">made by Snoop Dogg,</a> a character named "Ronald Klump" presented as a clown is shot by Snoop Dogg with a Looney Tunes&#8211;style gun. The mock shooting drove then President Trump straight to his Twitter account where he tweet-stormed Snoop pretty much day and night for at least a week.
Jumping to January 2024, after Trump launched his presidential campaign, the rapper sang his praises. "Donald Trump? He ain&#8217;t done nothing wrong to me,&#8221; he told <a href="https://www.thetimes.co.uk/article/snoop-dogg-i-have-nothing-but-love-and-respect-for-donald-trump-k60k99phr" target="_blank" rel="noreferrer noopener">The Sunday Times</a>. "He pardoned Michael Harris." Harris, the co-founder of Snoop's first label, Death Row, was serving time for drug offenses. "So, I have nothing but love and respect for Donald Trump."
Meanwhile, Snoop's fans seem not to be feeling a lot of love and respect for him right now.
In footage shared by <a href="https://www.instagram.com/p/DE9IUynM67H/?img_index=1">The Shade Room</a> on Instagram, comments ranged from unkind to shocked to furious.
"This is culturally embarrassing and disrespectful asf [as f&#x2A;&#x2A;&#x2A;]," one person wrote.
"Nipsey and Pac would never!!!" said another, referring to the late, beloved rappers <a href="https://www.benzinga.com/markets/cannabis/23/09/35011178/tupac-shakur-murder-suspect-indicted-nearly-three-decades-after-hip-hop-icons-shooting-death">Tupac Shakur</a> and <a href="https://www.benzinga.com/markets/cannabis/23/02/31021050/nipsey-hussles-murderer-sentenced-to-60-years-in-prison-after-months-long-trial">Nipsey Hussle</a>.
"Not a check in the world worth selling my soul to the Devil," another person wrote.
For the pleasure of rubbing shoulders with tech and crypto billionaires at the event that will no doubt solidify Trump as the <a href="https://www.the-independent.com/tech/trump-bitcoin-crypto-president-jd-vance-b2582235.html">self-proclaimed</a> &#8220;first crypto president,&#8221; guests shelled out between $2,500 and $5,000 for tickets. But, there was a $100,000 VIP package that included face time crypto czar Sacks. 
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Trump's Crypto Ball: Snoop Dogg's Participation Leaves Fans Furious, Top Crypto Execs Delighted

The past week has been a rollercoaster ride for the tech industry. From potential sanctions shaking up the semiconductor sector to controversies surrounding artificial intelligence (AI) companies, the news has been abuzz with developments that could have far-reaching implications. Here&#8217;s a roundup of the top stories that made headlines.
Nvidia&#8217;s $10B Setback and ETFs to Watch
The U.S. semiconductor industry is on tenterhooks as the possibility of further sanctions on AI chip exports to China looms large.&nbsp;Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>)&nbsp;recently experienced a significant setback when its major tech clients deferred orders worth billions of dollars. The geopolitical turbulence has investors keeping a close eye on the impact on exchange-traded funds (ETFs) linked to the sector.
<a href="https://www.benzinga.com/news/global/25/01/43040533/nvidia-10-billion-setback-3-etfs-to-watch-sanctions">Read the full article here.</a>
OpenAI Whistleblower Controversy
The death of former OpenAI engineer Suchir Balaji has sparked a controversy. His mother, Poornima Ramarao, claims that he had sensitive documents about the AI company&#8217;s practices. She alleged in an interview that her son&#8217;s knowledge of OpenAI&#8217;s operations led to his death.
<a href="https://www.benzinga.com/tech/25/01/43023088/openai-whistleblower-suchir-balajis-mother-says-her-son-had-documents-against-sam-altmans-ai-startup-elon-musk-calls-it-extremely-concerning">Read the full article here.</a>
Microsoft Launches 365 Copilot Chat
Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>)&nbsp;unveiled its AI-powered chat service, 365 Copilot Chat, with a new pay-as-you-go plan. The service, previously known as Bing Chat Enterprise, is designed for businesses and focuses on workflow automation.
<a href="https://www.benzinga.com/25/01/43022267/microsoft-launches-new-ai-agents-in-365-copilot-chat-to-drive-widespread-adoption-of-task-automation-tools">Read the full article here.</a>
Broadening Rally in Semiconductors Predicted
Semiconductor analyst Vivek Arya anticipates a surprising broadening rally in semiconductors in 2025. He predicts a growing divide between AI haves and cyclical have-nots. However, Arya also points out several unresolved issues for the sector, including global tariffs, rising inflation, and China restrictions.
<a href="https://www.benzinga.com/25/01/42961753/analyst-sees-broadening-rally-in-semis-coming-in-2025-2-top-stock-picks-and-2-to-avoid">Read the full article here.</a>
Zuckerberg and Huang on Quantum Computing
Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>)&nbsp;CEO Mark Zuckerberg agrees with&nbsp;Nvidia CEO Jensen Huang&#8217;s cautious outlook on quantum computing. Zuckerberg believes that the technology is still years away from practical implementation, echoing the industry consensus of a decade-long timeline for widespread quantum computing adoption.
<a href="https://www.benzinga.com/markets/equities/25/01/42936751/mark-zuckerberg-backs-nvidia-ceo-jensen-huangs-view-on-quantum-computing-its-still-quite-a-ways-off">Read the full article here.</a>
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Photo courtesy: Shutterstock
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/Rounak-Jain" target="_blank" rel="noreferrer noopener">Rounak Jain</a>

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These eleven large-cap stocks were the worst performers in the last week. Are they in your portfolio?
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<li>FTAI Aviation Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTAI#NASDAQ">FTAI</a>) shares plummeted 35.42% after short seller firm Muddy Waters Research announced they <a href="https://www.benzinga.com//node/43040046" target="_blank" rel="noreferrer noopener">initiated a short position in the company</a>.</li>
<li>Moderna, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRNA#NASDAQ">MRNA</a>) stock plunged 19.38% after the company updated its 2025 expected revenue range to $1.5 billion to $2.5 billion, below <a href="https://www.benzinga.com//node/42946454" target="_blank" rel="noreferrer noopener">analyst estimates of $2.951 billion</a>. Morgan Stanley maintained an Equal-Weight rating and lowered the <a href="https://www.benzinga.com/quote/mrna/analyst-ratings" target="_blank" rel="noreferrer noopener">price forecast from $70 to $38</a>.</li>
<li>GameStop Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GME#NYSE">GME</a>) stock declined 14.86%. In a recent X post, CNBC's Jim Cramer <a href="https://www.benzinga.com//node/43053808" target="_blank" rel="noreferrer noopener">steered investors toward</a> quantum stocks, suggesting they reinvest gains from GameStop into Rigetti Computing Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RGTI#NASDAQ">RGTI</a>).</li>
<li>Snap Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNAP#NYSE">SNAP</a>) shares dipped 12.91% following a report suggesting that Trump is considering an executive order to save TikTok from a U.S. ban.</li>
<li>Rocket Lab USA, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RKLB#NASDAQ">RKLB</a>) shares were down 10.81%. The company disclosed that its second Pioneer spacecraft for Varda Space Industries, Inc. is<a href="https://www.benzinga.com//node/43028933" target="_blank" rel="noreferrer noopener"> successfully operating in orbit</a>.</li>
<li>Natera, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NTRA#NASDAQ">NTRA</a>) stock lost 9.51% last week despite Guggenheim <a href="https://www.benzinga.com/quote/ntra/analyst-ratings" target="_blank" rel="noreferrer noopener">raising the price forecast</a> from $170 to $200. The company is due to provide a roadmap and outlook at the J.P. Morgan Healthcare Conference.</li>
<li>Eli Lilly and Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LLY#NYSE">LLY</a>) stock decreased 9.27%  after the company issued FY24 revenue guidance <a href="https://www.benzinga.com//node/42976923" target="_blank" rel="noreferrer noopener">below the previous estimate</a>.</li>
<li>ICON plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ICLR#NASDAQ">ICLR</a>) stock fell 9.22% after the company issued FY25 guidance with <a href="https://www.benzinga.com//node/42971328" target="_blank" rel="noreferrer noopener">its midpoint below estimates</a>.</li>
<li>BioNTech SE (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BNTX#NASDAQ">BNTX</a>) shares declined 8.89% after Moderna issued 2025 revenue <a href="https://www.benzinga.com//node/42951363" target="_blank" rel="noreferrer noopener">guidance below analyst estimates</a>.</li>
<li>Novo Nordisk A/S (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NVO#NYSE">NVO</a>) shares fell 8.89% after Ozempic and Wegovy were included in a list of 15 medications for <a href="https://www.benzinga.com//node/43062779" target="_blank" rel="noreferrer noopener">Medicare drug price negotiations</a>.</li>
<li>BioMarin Pharmaceutical Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BMRN#NASDAQ">BMRN</a>) shares tumbled 8.68%. The company initiated a legal action against Ascendis Pharma A/S for infringement of European patent EP 3 175 863 B1 at the <a href="https://www.benzinga.com//node/42953403" target="_blank" rel="noreferrer noopener">Unified Patent Court (UPC) in Munich, Germany</a>.</li>
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Photos courtesy: Shutterstock

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Moderna, GameStop And Snap Are Among Top Large-Cap Losers Last Week (Jan 13-Jan 17): Are The Others In Your Portfolio?

The Los Angeles wildfires have caused widespread destruction, with over 40,000 acres burned, 12,300 structures destroyed and thousands displaced. According to estimates from AccuWeather, the financial impact is between $250 billion and $275 billion and counting.
President Joe Biden recently declared, "I told the governor and local officials, spare no expense," pledging federal support for the disaster response. With FEMA and other organizations providing emergency assistance, this destruction still begs the crucial question: Who is paying for it?
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">President Biden: &quot;Today I&#39;m announcing that the federal government will cover 100% of the cost for 180 days&#8230;I told the governor and local officials spare no expense to do what they need to do to contain these fires.&quot; <a href="https://t.co/TopHguIBBR">pic.twitter.com/TopHguIBBR</a>
&mdash; CSPAN (@cspan) <a href="https://twitter.com/cspan/status/1877484094021386285?ref_src=twsrc%5Etfw">January 9, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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<h2 class="wp-block-heading">Governments, Insurers and Residents Share the Costs</h2>
As Business Insider reports, the federal government covers immediate response efforts, including fire containment and emergency shelters. FEMA offers displaced families hazard mitigation and financial aid, but these programs aren't designed to fully rebuild homes or businesses. For that, private insurers and residents are largely on their own.
However, insurance coverage is becoming a significant hurdle. Companies like Allstate, State Farm and Farmers have <a href="https://www.benzinga.com/real-estate/24/03/37964319/another-home-insurer-leaves-california-and-eight-other-states">recently stopped covering</a> in high-risk areas, citing rising disaster risks. Many residents are left relying on California's FAIR plan, the state's last-resort insurance program. This often results in higher premiums and less comprehensive coverage, leaving homeowners with steep out-of-pocket costs.
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For <a href="https://www.benzinga.com/real-estate/24/11/41685300/1-in-13-homeowners-are-risking-it-all-heres-why-experts-call-it-a-huge-mistake">uninsured residents</a>, rebuilding isn't just challenging – it's financially crippling. And while state and local governments offer some support, long-term recovery largely depends on personal finances and private contributions.
It's not just the direct costs of rebuilding homes and infrastructure that add up. Indirect losses, like health care expenses, lost wages and business disruptions, compound the financial blow. The destruction of neighborhoods with high property values, such as Malibu, Santa Monica and the Pacific Palisades, further increases the economic toll.
The price of materials and labor is also expected to soar. Demand for contractors, plumbers, electricians and other specialists will outstrip supply, pushing costs higher. Furthermore, building supplies like steel and lumber may increase due to inflation and possible price gouging.
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<h2 class="wp-block-heading">A Long Road to Recovery</h2>
The sheer scale of the damage has made the Los Angeles wildfires one of the costliest disasters in U.S. history, surpassing even the record-breaking wildfire seasons of recent years.&nbsp;
President Biden has promised that the federal government will cover all the fire response costs and give affected families a <a href="https://www.benzinga.com/25/01/42992642/biden-administration-announces-one-time-770-payments-to-california-wildfire-victims">$770 one-time check</a>. Still, rebuilding will take years and more money and planning will be needed. Local leaders are asking Congress for extra funding, but it's unclear when that will happen.
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'Spare No Expense,' Says Biden, But Who's Really Footing The Bill, As The Los Angeles Wildfire Damage Surpasses $250 Billion

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