Entrepreneurial talents are not reserved only for adults as a teenage entrepreneur from the UK is receiving critical acclaim for becoming one of the top young businesspersons in the United Kingdom.
Rose Dyson is a 15-year old from Barnsley, Yorkshire, who is gaining traction in the news for creating a business with just a £25 investment back in 2015, which turned over £50,000 in 2017. It’s never too early to become a money maker, and with a vision, hard work and guile, Ms. Dyson has earned her place as one of the top young business people in the United Kingdom.
Lip Balm Smooths the Cracks for Teenage Entrepreneur
Ms. Dyson was so tired of paying “extortionate” rates for lip balms that she decided to launch her own Pura Cosmetics products that include lip balm products created with affordability and ethics in mind.
Rose has now been awarded for her ingenuity by being placed on a top-5 teenage entrepreneur in the UK list run by the fintech company, Transferwise. The company made the list to find the 20 most promising CEOs in the UK with ages ranging from 16-19. One of the main judges for the competition, Robin Klein, who is the co-founder of Transferwise and the current General Partner, waxed lyrical in regards to Dyson’s achievements and potential by saying that
“Rose lives her business and has developed an original range of products – originality in the beauty business is really important.”
Ms. Dyson made the list in the face of stiff opposition from the best teenage entrepreneur competition in the UK and received an opportunity to pitch to TrasferWise’s first ever employee, Taavet Hinrikus, with the chance to scoop up to £10,000 that can be used in a “no strings attached” investment. Ms. Dyson impressed Mr. Hinrikus and will now use the money to grow her business even further.
Ms. Dyson launched Pura Cosmetics after seeing a gap in the market due to the exceptionally high prices she was constantly paying for lip balm products.
“I thought the price was really extortionate. I started manufacturing from my kitchen.”
She sold 25 lip balms with her first attempt and plowed that money back into growing her cosmetic products even more, and she is now being lauded as one of the best teenage entrepreneur proteges in the UK.
Forbes produced last week its latest Forbes 400 rich list. Individuals needed a record $2.1 billion net worth to make the list. The average wealth of the 400 U.S billionaires is also at its highest ever, reaching $7.2 billion.
15 Americans made the list for the very first time, most of them are self-made billionaires earning fortunes in e-commerce, transport and of course, technology.
Drew Houston – Dropbox
Houston enters the list in 302nd place with a net worth of around $2.1 billion as of today. He founded file sharing service Dropbox in 2007 at the age of 24 with his Massachusetts Institute of Technology (MIT) classmate Arash Ferdowsi.
Houston owns 25% of Dropbox, which was publicly listed this year in March. Dropbox shares gained 35% in value on their first day of trading, entering the market at a value of $28.48 according to Nasdaq, with a value of $24.07 today.
Houston is 35 and also holds 1999th place in Forbes three comma club, it’s global billionaires 2018 list. He’s quoted as having said of success:
“Don’t worry about failure; you only have to be right once.”
Ben Chestnut – Mailchimp
Ben Chestnut / By Mike Schinkel Chestnut founded popular email marketing platform Mailchimp in 2001 with Dan Kurzius, it wasn’t until 2007 that Mailchimp gained enough customers for the team to commit to the project full time. The pair own 50% of Mailchimp each, a company set to turn over $600 million in 2018. Chestnut is 44 and business partner Kurzius is 46, also making the Forbes 400 list in 383rd.
Chestnut is quoted by Forbes as saying:
“I want people to see that the past 17 years were just a warm-up.”
Chris Larsen – Cryptocurrency
As the first cryptocurrency “tycoon” Ripple co-founder Larsen joins the Forbes 400 with a net worth of $2.1 billion sharing 283rd place. Had the cryptocurrency markets and the Ripple token, XRP, not declined in value Larsen would have been worth much more. Forbes estimated his worth in January 2018, at $37.3 billion.
Larsen’s wealth stems from an ownership of an estimated 5.19 billion XRP tokens as well shares in the blockchain payments platform Ripple itself.
Before getting into cryptocurrency Larsen co-founded e-Loan in 1997 and a peer-to-peer lender Prosper in 2005. The self-made billionaire is 58.
Thai Lee – SHI International
One of three women to make the list this year, Lee, now 59 was born in Bangkok and grew up in South Korea before moving to the U.S. She is CEO of IT company SHI International which boasts over 17,000 customers. Lee is worth $2.3 billion, having bought SHI for less than a million in 1989.
SHI sales for 2017 were $8.5 billion. The company won a cloud solutions master agreement to offer software and IT infrastructure services to almost all U.S state and local public sector organizations. The enterprise technology giant also supplies the Defense Logistics Agency and NASA.
Forbes has previously named SHI International as the largest female-owned business in the U.S. Supportive of her employees Lee is quoted as saying:
“A dollar amount could never accurately convey the respect and admiration I have for the employees of SHI.”
Steve Conine – Online Retailer Wayfair
Conine, 46, made the Forbes 400 list at 368th. He founded online home goods retailer Wayfair with business partner Niraj Shah in 2002. Shah also made the list sharing 368th position and equivalent wealth of $2.2 billion. Wayfair, listing more than 10 million products online, saw sales rise 40% in 2017, reaching sales of $4.7 billion.
Wayfair is a consolidation of 250 websites different websites created by Conine and Shar from 2000 onwards after they spotted a niche for retailing furniture and other home items online.
When he’s not working Conine is a competitive mountain biker who competes in global bike races.
There were already many technology entrepreneurs on the Forbes 400 list, who carried over their success into 2018. Amazon’s Jeff Bezos removed Microsoft’s Bill Gates’ 24-year hold over the number one spot on the list with a massive net worth of $160 billion. Google’s Larry Page and Sergey Brin hold positions six and nine respectively. WhatsApp’s Jan Koum is 47th on the list and Snapchat entrepreneur Evan Spiegel is still the youngest billionaire on the list at age 28 with a net worth of $2.3 billion.
Giant social media platform Facebook Inc. finally launches its video chat device called Portal.
Portal is equipped with a camera to watch every home and get into users intimate spaces.
Facebook Inc. the popular social media giant has finally released its video chat device called Portal into the market. The first announcement about this device was made in August 2017 when Facebook revealed that it was working on a video chat device for homes.
Earlier this year, the tech company said that it would name the device ‘Portal’ and it would help in the creation of its voice-activated speakers, very similar to iPhone’s Siri.
Unveiling Facebook’s Portal
Facebook Inc. on Monday, October 8, officially launched its new video chat device for homes, Portal. The social media company stated that the device is equipped with cameras to track every movement and would be in intimate spaces, such as the living rooms and kitchens.
However, Portal’s ability to track moments in every home has raised lots of questions for Facebook Inc., who was recently caught in a series of privacy scandals.
After countless data breaches, many users won’t be receptive to the idea of a monitoring Facebook camera in their living rooms. Amazon and Google had released a similar device but none of them added a monitoring function to their products. However, the social media giant stated that its device is as un-creepy as possible. And as long as Facebook says it, that means it must be true.
During Portal’s demonstration in San Francisco, Rafa Camargo, a Facebook executive, stated that the tracking camera was fitted only to capture a user’s position correctly. So that during a video call, users can move around hands-free.
He added that both the camera and microphone on the device can be turned off so that there wouldn’t be any way to record videos in case users are particular about privacy issues. He also stated that the processing of users’ voice commands takes place in the device, and not in the Facebook data center. Rafa said:
“Privacy is very, very, very important. We really made a conscious choice of not recording, so you have peace of mind. If users don’t trust the off switch for the camera, there’s a small plastic cover they can slide over the lens when it’s not in use.”
While some users may be placated by Camargo’s use of the word “very” three times, others will remain unconvinced.
2 Variants of the Video Chat Device
The video chat device comes in two variants – Portal and Portal+. Both have similar functions, such as the ability to listen to music, make video chats, which can integrate with music-streaming apps like Pandora and Spotify, view pictures and watch videos from some selected applications, and video conferencing with as many as six people at once.
However, both differ in screen size and sound quality. Portal has a 10-inch screen size and sits horizontally, it is very similar to Amazon’s Echo Show. While Portal+ has a 15-inch screen size that can display in both portrait or horizontal mode. Portal costs $199, while Portal+ costs $349. But according to Facebook, there would be a $100 discount for a user who decides to buy the two at the same time.
Both devices are controlled mostly by voice. So saying “Hey Portal” activates the video chats. Presently, the devices are using Amazon’s digital assistant, Alexa. Hence, users would say “Alexa” for more advanced functions.
Facebook added that users can use the device to hold calls with other Portal users as well as Facebook’s Messenger app on both desktop and smart devices. Though there is no ability to dial a regular phone number on the device yet.
The social media company concluded by saying that very soon, it will release tools for third-party developers to develop apps for the video chat device. Portal may be a good device for some home users, but the thought of Facebook’s prying eyes inside their homes may keep other away. And also raise the question–do we really need Facebook in our homes?
IT expert and investor Chris Reining decided to become a millionaire at the age of 29. Work got on his nerves. He wanted to be financially free. Now, the 39-year-old American has finally made it. Today he has $1.2 million in his stock portfolio and can enjoy his early retirement on the beach.
Many people live their entire life with financial limitations. At the age of 50 or 60, they realize that they’ll have to work until they are so old and sick that they simply cannot work anymore. This is a miserable life and Chris Reining knew that and wanted to achieve something better.
He Turned into a Super Saver and Became a Millionaire
IT Specialist Chris Reining is 39 years old and lives in Wisconsin. He’s a millionaire. When he was 29, he decided to get rich because the job he was doing got on his nerves. For his 35th birthday, he wanted to have a million dollars in his stock portfolio. At that time he earned $75,000 a year.
He spent no more than $1,000 for flying lessons a month. He didn’t go to the expensive eco-supermarket anymore. He went to the restaurant less often. He started a kind of spending diet.
Yes, it’s hard at the beginning to change habits. But once you get used to it, saving isn’t a problem. No one has to eat dog food, of course. Life stays pleasant. Today, Reining has $1.2 million in his portfolio. He describes how he earned the money in his
Many people believe that they can’t do it. But you know what? It is possible. You just have to want it. People like Reining who started early can now enjoy their retirement somewhere on the beach.
Reining knows the feeling of financial independence; for him, it’s about much more than just money itself. It means “having the freedom to design your life according to your wishes,” as Reining explains on his
He learned the advantages of investing at an early age when he was introduced to the world of equities by his father. Today he wants to pass on his knowledge to those who cannot cope with their financial life or have questions about the confusing world of the stock market. Therefore, he decided to launch his own site.
Chris Reining / https://chrisreining.com/
His own life proves best that his concept works: Reining gave himself the goal of achieving financial independence at a young age. He retired at age 37.
How Did He Do That?
His way is simple and follows the advice his father already suggested: he invested in stocks. “Stocks are not just for rich people,” Reining says and reinforces his advice with a simple example in the language of the farmers under which he grew up as a boy in Wisconsin:
“Imagine, you buy yourself a young, frail foal for $500. You maintain it for many years, you let it graze on a lush pasture and see how it increases in strength and size. After a few years, your once-small foal is suddenly worth $2,500 (and you did not even have to spend money on the grass).”
The same applies to shares as it does to the foal. Of course, there are always setbacks in the case of foals. Sometimes they get sick and requires more care and protection. But in the long term, they mature into a strong horse, that one day will be worth a lot more on the market than the once-acquired young animal.
Let’s face it, when it comes to online search, Google takes the cake. The tech giant is also pretty good at analyzing data, targeting ads, and helping people find their way around cities. But one area in which it hasn’t emerged victorious is social media. Perhaps it doesn’t matter since they own YouTube anyway and between them and Facebook account for some 70% of all internet traffic.
But something about a failed business has got to hurt somewhere. Yesterday, in the wake of a security vulnerability that put user data at risk, the search company decided to shut down Google+, a social network it once hoped would challenge Facebook.
Google+ An Accident Waiting to Happen
Google took a slamming yesterday from its critics for failing to announce a security lapse at Google+ that left user data exposed. The vulnerability had actually been in place since 2015, although the company only discovered it this year. They then promptly set about fixing it before the news hit the public sphere. In fact, Google clearly hoped that the news would never hit the public sphere.
Now the tech behemoth has been accused of “lack of transparency.” Its critics say this type of behavior is exactly what led the European Union to impose stricter laws for protecting consumer data. In the wake of Cambridge Analytica, the vulnerability in the flailing social network being kept so quiet was hardly an accident. Google was clearly trying to distance itself from Facebook and its angry mob of haters.
Avoiding Regulatory Scrutiny
Now Google isn’t just suffering from a lack of interest from the Google+ user base or even a security vulnerability. The company comes over as underhand, unethical, and ever-so-slightly incompetent.
Labeled as a ‘bug’ in the Google+ service, as many as half a million users’ data was exposed to developers of some 438 third-party apps who could have used it to improve their own services.
Europe’s GDPR
Google says that its decision to keep the information about the breach quiet was based on a couple of reasons. Firstly, they were unsure of the extent of damage done (or in fact, if any information had even been compromised). Second, the data was not “deeply sensitive” (the information contained names, occupations, and email addresses). Moreover, the company was unsure which users had been affected.
However, the revelations by the Wall Street Journal over Google’s internal decision making on the breach placed the tech giant under scrutiny. Being thrust under the microscope by regulators in the US was something they clearly wanted to avoid. Conveniently, the company fixed the breach before the GDPR came out in May, keeping it quiet at a time when corporations are under attack for their misuse of data.
Google Will Always Be Under the Knife
The bigger they are, the harder they fall. Google will always be under public scrutiny and even ex-Google employees are going into direct competition with them. Launching data privacy apps, blockchain companies for data transparency, and other disruptive services.
Just after the news of Facebook and its latest breach, there are calls for even tougher regulation in the US and Europe. After all, if there was an issue with Google+ who’s to say there isn’t one with a number of Google’s applications? Alphabet stock closed in the red at by 1.02% down yesterday.
Alphabet Stock Plummeted
As the company fixed the Google+ flaw before the EU’s GDPR came out this May, they will be exempt from any fines. They will also be placing tighter restrictions on the types of user data they will reveal to developers.
Opinionated, political, extremely wealthy, and hosting the popular television series in the US and the UK, The Apprentice links US President, Donald Trump, to the British equivalent, Sir Alan Michael Sugar. The 14th series of The Apprentice has just begun on British television with Alan Sugar again taking the leading role. Unlike the US version where President Trump stood down to “make America great again,” Sugar has been the ever-present host since the UK version began in 2005.
The Apprentice (UK) sees Alan Sugar setting business-related tasks to a dozen or more aspiring “apprentices,” all eager to join his business empire. Contestants range from humble market traders to thriving entrepreneurs that have already made a name for themselves in business, but at a much lower level than they hope to achieve by joining up with “Sir Alan.”
Week by week the contestants are whittled down until just one entrepreneur claims the £250,000 investment from Alan Sugar as equal partners in the business they recommend. Uniquely, the last series had joint winners as the host couldn’t decide between the two business proposals.
Humble Beginnings for Alan Sugar and Politics
President Trump, or plain Donald John Trump as he was then, took up the reins of his family’s real estate business before going on to become one of the world’s best-known entrepreneurs.
Alan Sugar became a Lord in 2000 for his contribution to the explosion of low-cost personal computers in the 1980’s, but he is a self-made man, having been brought up in an apartment owned by the local authority before he built his business empire.
Alan Sugar is a popular figure in the UK for different reasons to different people. For soccer fans, he was Chairman of popular Premier League, Tottenham Hotspur from 1991 to 2001. To computer enthusiasts in the 1980s and 1990s, he pioneered the development of cheap personal computers under the brand Amstrad and buying the rights to the Sinclair ZX Spectrum, originally developed by Sir Clive Sinclair.
To the wider general public, Sugar is best known for hosting The Apprentice on the BBC. But like President Trump, he also has a powerful political voice. Between 1997 and 2015 he was regarded as a Socialist being a fully paid-up member of the Labor party.
His humble beginnings may have influenced his early political persuasion, but just after the 2015 General Election, which the Labor Party lost, he became “disillusioned” with the Party and left. By 2017 he had moved to the right and was supporting Conservative Theresa May in the General Election, which she went on to win.
Sugar and Trump Billionaires
Sugar and Trump have both joined the billionaires club, but they didn’t amass their fortunes before the age of 30 which is left to a very select group of fewer than ten individuals globally. Unlike President Trump, Sugar is not yet “running the country” and at the age of 71, it is probably unlikely that he will ever become the Prime Minister of the UK. Switching his allegiance from Socialist left to Conservative right probably also hampers his prospects of taking up the number one job.
The similarities between these two entrepreneurial heavyweights are quite uncanny, with a few notable exceptions, and for most people, The Apprentice is their closest link. For budding entrepreneurs, following Sugar’s business decisions during the program can be quite insightful and selling part or all of any businesses you create is a tried and tested route to financial freedom.
Featured Image by De Damien Everett, CC BY 2.0, https://commons.wikimedia.org/w/index.php?curid=16205713
In your quest for financial freedom, you probably find yourself getting creative. Investing in crypto, checking out pot stocks, or scouring the classifieds for a passive income. That’s great. Your hard work will eventually pay off. But you can start getting richer right now by simply cutting out the ways you’re wasting money.
According to a report by CNBC Money, if you’re like most young people in your 20s and 30s, you’re leaking money like a damaged faucet from sources you never consider. Some of the most common offenders include using the wrong ATM, paying for a gym membership you never use, or buying items from the closest store and missing out on cheaper prices just a few yards away.
Moreover, with the rise in interest rates, especially in the US, borrowers will find themselves paying more on their credit card balances and other repayments. This will see you splashing out even more cash than before. Before you can start thinking about becoming a billionaire under 30, let’s start with the basics. Here are a few ways to start getting richer right now by stopping wasting money.
Pay Down Your Debt
You work hard. Of course you’re inclined to spend that unexpected bonus on a night out with friends. But if you’re paying off a debt, like a student loan or credit card, that should always be your first priority. It’s basic economics. You should never try saving money while you’re still repaying your debt. Anything outside your mortgage has to be your first priority.
The average American has a credit card balance of $6,375 with the total credit card debt reaching over $1 trillion last year. So, that Starbucks on your way to work or that rolling subscription to that running app you forgot you had? Cut them out and put the extra cash towards paying down your debt first.
Stop Eating Through Your Money
One of the greatest expenses for this age group is eating out with friends. While we all know that cooking at home is cheaper, it can be a hard pill to swallow. Especially with growing numbers of millennials working from their home office.
Stop Eating Through Your Money
If it’s the social interaction you crave, why not eat out at each other’s houses? If you despise cooking and want the ambiance of a restaurant, start getting friendly with coupons. You can also try cutting out the alcohol since wine and liquor are the highest profit margin in any restaurant. Why not try being really cheap and having a few drinks before going out?
Cut Down Your Bank Fees
One of the biggest and most silent culprits is ATM fees, which can add up to hundreds of dollars every year. So, if you’ve gotten into the bad habit of going to an ATM because it’s closer to you or easier to park, get out of it.
Going to the wrong ATM five times a month is an easy mistake to correct and a quick way to start saving money. When you go to the wrong ATM not only are you paying your own bank’s fees, but you’re paying the other bank’s fees as well. You’re literally taking out your money and handing it to the men at the bank.
Save on Transport and Living Expenses
You may not be willing to cut out your car and ride a bike to work, but there are other cutbacks you can make that aren’t so dramatic. Think about sharing your living expenses by living with a roommate. Try to shop around for a new cell phone plan, or cable TV rather than getting stuck with a bad deal, and be sure your health insurance plan is still right for you. Beware of enticing deals for six months that suddenly shoot up in price and lead to wasting money without realizing.
Stop Wasting Money Today
Looking after your money isn’t exactly sexy. And fumbling around in your wallet for a 10% OFF coupon won’t make you feel very successful. But the message is basically this:
You don’t have to become a sewer rat to start developing better habits. Before you can think about saving or even investing, get rid of your bad debt first and cut out all the unnecessary payments from your life. You may even find you start enjoying it once you watch the extra money pile up.
Airbnb and Uber, along with other digital services websites, will be required to pay a 3% tax as per the Spanish Finance Ministry’s new tax rules.
These digital companies are responsible for opening new doors for businesses and investors alike. However, until now, innovative startups such as Just Eat have reaped benefits due to the lack of regulation for digital platforms.
María Jesús Montero, Finance Minister from the Spanish Socialist Workers’ Party, said:
“There are businesses we all know that are dedicated to services and are generating billions in economic activity, yet do not pay appropriate taxes, because the current tax laws do not recognize this type of activity.”
Currently, the tax applies to digital advertisement and brokerage services, and Sale of Data (SoD) websites, that earn over $3.44 million revenue in Spain and $860 million globally.
According to Spanish Newspaper El País, Airbnb published an official statement claiming that the company pays tax in every country it operates in, including Spain.
Tax Rules for Airbnb in the US
Spain isn’t the first country to create a new tax structure for online platforms. On October 1, New Jersey applied a 5% tax of “hotel occupancy fee” for Airbnb and travel website VRBO. Since the law exempted realtors from this tax, visitors can avoid this situation by getting in touch with real estate agents.
Meanwhile, Huntsville doesn’t plan on following New Jersey anytime soon. The city applies a lodging tax on Airbnb hosts and believes that it’s sufficient for the time being.
Last month in Colorado, various residents requested authorities to change the category of Airbnb rentals from residential to commercial. This would increase the tax figure from 7% to 29%. Since a lot of people rent out their properties and earn their income through the digital platform, this move would result in a loss. Some people even rent a portion of their houses and share it with strangers to make ends meet. According to Molly Weedn, Public Affairs manager of Airbnb US West:
“This proposed change could mean much of this important supplemental income would go to state coffers, rather than helping a host pay their bills.”
Thus, on October 3, it was finally revealed that Colorado had decided against implementing this tax rule.
France and UK Weigh in on the Situation
Last month, French politician, Ian Brossat, submitted a proposal which explained that Airbnb should be banned from Paris. He also raised a question regarding Airbnb’s tax activities, “Why does Airbnb pay as much tax in France as a neighborhood bakery?”
Earlier today, Financial Times reported that Her Majesty’s Revenue and Customs (HMRC) reached out to Airbnb to discuss tax regulations applied on the company. However, Airbnb’s official statement added that these are just “routine checks.” The company was previously criticized for paying only £379,075 in tax from the profits earned in 2017 and £188,000 in 2016.
In case you haven’t noticed, there are plenty of people making money trading pot stocks right now. Getting high on marijuana? Yes. In some cases, positively flying. Just look at the Tilray (TLRY) cannabis company, whose shares increased by over 1,160% since its IPO to reach a market cap bigger than Twitter.
So what’s the deal with this quasi-legal industry that brings back memories of sitting in the principal’s office after school? Is it possible that the mother of all come-downs is about to catch up with pot stocks? If Bitcoin is a bubble, pot stocks are going up in smoke. Here’s why.
Cannabis Is Getting Legal
Cannabis is being increasingly legalized across North America. In fact, Canada is on the brink of becoming the first industrialized country ever to legalize recreational marijuana. Instead of a clandestine handshake in the back of a nightclub, you’ll actually be able to buy weed straight over the counter. Although, where’s the fun in that?
In the US, though, there are still some mixed feelings towards the drug. But since lawmakers started opening up to the idea of medicinal cannabis and even recreational pot, talk of marijuana IPOs and pot stocks has been gripping the wider public.
Currently, there are 10 states, including Washington, D.C., that have legalized recreational marijuana, with 29 more legalizing medicinal cannabis. The industry that used to be brandished as criminal is now a seething hotbed of M&As, deals, and IPOs. And investments this year have already surpassed the $5 billion mark.
Beyond Tilray’s mindbending IPO, Aurora Cannabis (TSE: ACB) pulled off the largest marijuana acquisition in history with a $2.5 billion buyout of Ontario’s MedReleaf. And the North American Marijuana Index that measures the largest cannabis industry players has almost tripled in value, up some 650% since February 2016.
No way dude. Cannabis is finally having its moment in the spotlight. But it’s a classic case of smoke and mirrors.
Hype, Hype, and More Hype
As Canada prepares to reshape the cannabis industry forever, marijuana companies of all stripes are finding their way to the mainstream. The marketing term they weren’t allowed to use is now the buzzword du jour.
From recreational-style products to life sciences, medical, and even hemp clothing and beauty products, with less than 10 days to go, the hype is reaching fever pitch.
There’s a decent amount of FOMO in pot stocks right now. So it’s a great idea to invest if you love buying at an all-time high and watching your stock promptly dwindle. Sound good? Check out the hottest pot stocks right now if you’re looking to win (then lose) a fortune.
Tilray Stock Freefalling
1. Canopy Growth (NYSE: CGC)
Already one of Canada’s major medical cannabis producers, Canopy Growth is well-placed to ride the transition to recreational users as well. Thanks to a vast production capacity, millions of square feet of space to grow on, and even some facilities outside of the country, this is set to be one of the largest producers around.
The company has also been busy establishing its distribution network. With supply agreements all over the country, Canopy now has legal POS for all their crop. Even better than that? In an attempt to straddle the mainstream further, they’ll be launching cannabis-infused beverages with partner Constellation Brands soon. Of course, regulation of these won’t be finalized until 2019, but you have to love the idea of getting high drinking a soda.
2. Aphria (TSE: APH)
Alongside Canopy, Aphria’s production capacity is not to be sniffed at either. In fact, they’re looking at producing some 225,000 kilos a year by 2019, overshadowing Tilray and becoming the third largest grower in terms of capacity. They’ve also been astute when it comes to networking, having lined up agreements across Canada’s provinces.
The company further signed a deal with Emblem Cannabis to supply 175,000 kilograms of cannabis over a five-year period beginning in 2019. Oh, and Coca-Cola is reportedly looking for a cannabis partner to make marijuana beverages as well.
Whether Aphria will sign the line with the FMCG giant or not is TBD. But there are plenty of beverage companies in the works that would allow Aphria to further deepen their foothold in the recreational space. And the speculation does wonders for their stock.
3. Aurora Cannabis (TSE: ACB)
Making history through its Medreleaf M&A, Aurora Cannabis has been acquiring cannabis producers left, right, and center. This means it has some pretty deep roots in this burgeoning industry that leave it well-positioned to be one of its biggest players.
With a current capacity of 150,000 kilograms by the end of this year, we should soon see this leap to around half a million kilos thanks to all this company’s buyouts.
There are also plans in the works to list their stock outside of Canada on a major U.S. stock exchange, giving the company greater exposure to US investors. Who may or may not be interested after the pot stocks go puff.
Invest in Pot Stocks?
There are plenty of reasons to invest in pot stocks right now. Firstly, because everyone else is doing it. Secondly, because, if you like taking baths, the mother of bubbles is about to burst. And finally, because no one is really sure how high demand for the legalized product will be. It could be explosive leading to shortages in supply(!!). Or, we might just find that people were pretty happy with their neighborhood provider after all.
Analysis from ArcView Market Research and BDS Analytics estimates that the Canadian recreational marijuana market will reach around $2.1 billion next year, with around another $600 million for medical cannabis. These are some bullish projections, to say the least, indicating that share prices could indeed continue to rise. Or, on second thoughts, probably contributing to their high prices currently.
Over-hype, escalating FOMO, and unconfirmed levels of demand… Remember the Bitcoin “bubble“? Pot stocks are headed for a similar fate, get on board now if you don’t want to miss out.
Everyone seemed to love Tesla. For years Wall St. couldn’t get enough of a company that still hasn’t made a profit. Super smart billionaire playboy Elon Musk has been one of the most interesting people in business for a long time generating headlines on a daily basis. Over the last few months, however, things seem to have taken a wild turn for Mr. Musk and the companies he’s built.
There has always been criticism hurled toward Elon Musk. As the chairman and CEO of an independent electric car company, some amount of naysaying from the public should probably be expected. Many doubted Musk’s vision for the future of transportation. However, when it came to money, there always seemed to be another investor waiting in the wings.
Elon Musk presided over Tesla’s (NASDAQ: TSLA) run from under $20 USD a share to nearly $400 USD last year. At its peak, Tesla was valued at more than $60 billion USD. Not too shabby for a company that has burned money since day one. Elon Musk may have felt like he was untouchable, but that’s probably changing.
Smokin’ Dope With Rogan
Pretty much everybody knows that Joe Rogan likes to get high. He also drinks whiskey with Alex Jones. Getting high and wasted with goofballs seems to have been a successful business model for Joe Rogan. But Elon Musk may have strayed into dangerous territory when he decided to smoke contraband on camera.
To be clear, cannabis is legal to smoke in California, where Joe Rogan creates the magic that is his podcast. At the federal level, though, cannabis is still extremely illegal in the USA, which puts Elon Musk into something of a bind. Not only is Musk the chairman and CEO of a multi-billion dollar company, but he also holds a security clearance from the US Air Force for his role in Space X.
Who Says Pot Doesn’t Give You a Hangover?
Let’s hope that the buds that Joe Rogan passed Elon Musk were top quality because he’s paying dearly for that big hit of reefer. In the wake of his smoke session, TSLA shares dropped by more than 10%. Tesla also lost their Chief Accounting Officer (CAO), and Chief People Officer (CPO).
Ex-Tesla CAO David Morton had been at Tesla for less than a month before he took off in early September. CNBC reported that David Morton felt like Tesla just didn’t listen to him. He had worked at Seagate Technology for two decades prior to his interlude at Tesla, which makes the departure look all the more dramatic.
Longtime Tesla bull and Nomura analyst Romit Shah downgraded TSLA to “Neutral” after Mr. Musk got high. He went on saying:
“Mr. Musk’s behavior is well documented and likely contributed to the onslaught of executive departures in recent months.”
While there seem to be only two high-level staff departures that are directly related to Elon Musk’s lighting up, there have been at least 13 others that have left since the beginning of 2018. Many of them don’t list another position in their LinkedIn, which could mean just about anything.
Nine Words for $40 million USD Seems Like a Bad Deal!
The consequences from Elon Musk’s move to smoke dope are hard to put in monetary terms, but his decision to tweet that Tesla was going private for $420 USD a share is some of the most expensive writing in recent memory.
The Securities and Exchange Commission (SEC) recently came to an agreement with Mr. Musk over the illegal tweet. In the end, it cost him $20 million USD, and the position of chairman at Tesla. The company had to pony up another $20 million USD, which puts the cost of that tweet at $40 million USD.
As more details about the apparently non-existent offer to take Tesla private have emerged, Elon Musk’s oversights look much worse. In fact, he’s freely admitted that the figure of $420 USD was inspired by the number’s significance in the drug culture and that there is no written evidence of any plan to take Tesla private.
The Air Force Isn’t Amused
The US armed forces are pretty clear about their policy on drug use. Beefed-up podcasters in California can get away with dancing around federal drug law. CEO’s of space exploration companies that hold a federal security clearance are in a totally different league.
Elon Musk may not have understood the kind of position he had before he decided to make illegal tweets, and get high on camera. Now that the US Air Force is investigating his actions, he may be waking up to the fact that his role as a leading innovator and industrialist means living with a lot less freedom than freewheeling podcasters.
For the moment Elon Musk is still the CEO of Tesla, and there has been no formal action taken against him by the US Air Force. One hopes that he has learned a lot over the last few months. If he had any questions about where his limits are, now he has a much better idea of which lines even he should avoid crossing.
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