FMQQ The Next Frontier Internet ETF (ARCA: FMQQ)

Dernières nouvelles pour FMQQ The Next Frontier Internet ETF (ARCA:FMQQ)

Consumer Cyclical

Financial Services

Communication Services

Energy

Other

Technology

Industrials

Consumer Defensive

The Fund invests in securities comprising the Index or in depositary receipts representing securities of the Index. The Index was designed by Big Tree Capital LLC (the Index Provider) to measure the performance of an investable universe of publicly traded emerging market and frontier market internet and ecommerce companies. Companies eligible for inclusion in the Index will derive a majority of their assets or revenues from internet and ecommerce activities in certain emerging market and frontier market nations that are considered by the Index Provider to be in the next frontier of the evolution of the internet and ecommerce space (collectively, Internet Companies). Internet Companies include, but are not limited to, companies in the following sectors, as defined by the Index Provider: Internet Services, Internet Retail, Internet Broadcasting, Internet Media, Online Advertising, Online Travel, Online Gaming, Search Engines, and Social Networks. Products and services of Internet Companies may include internet, mobile, and telecommunication value-added services, online advertising, online direct sales, internet security software and services, mobile applications, e-mail service, web portals, electronic media subscription services, online entertainment, and online gaming services. Internet Companies eligible for inclusion in the Index must hold a majority of their assets in or derive a majority of their revenues from one or more of the following 44 currently eligible emerging market or frontier market nations: Argentina, Bahrain, Bangladesh, Brazil, Chile, Colombia, Croatia, Czech Republic, Egypt, Estonia, Greece, Hungary, India, Indonesia, Jordan, Kazakhstan, Kenya, Kuwait, Lebanon, Lithuania, Malaysia, Mauritius, Mexico, Morocco, Nigeria, Oman, Pakistan, Peru, Philippines, Poland, Qatar, Romania, Russia, Saudi Arabia, Serbia, Slovenia, South Africa, South Korea, Sri Lanka, Thailand, Tunisia, Turkey, United Arab Emirates, and Vietnam. From time to time, the Index may be more heavily weighted in a single country or a small number of countries. As of September 1, 2021, securities of South Korean companies comprised approximately 25% of the Index. Under normal circumstances, the Fund will invest at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in the securities of Internet Companies.

Sea Ltd., Adr

Reliance Industries, Ltd.

NU Holdings Ltd/Cayman Islands

Mercadolibre Inc

Coupang LLC

Naver Corp Ord Krw100

The Next Frontier Internet & Ecommerce ETF

FMQQ The Next Frontier Internet ETF

When a small business owner called into Dave Ramsey&#8216;s &#8220;<a href="https://www.youtube.com/watch?v=BBqXJvG4QEM">EntreLeadership</a>&#8221; podcast recently, she didn't talk about marketing, sales, or profits—she asked for help dealing with something more personal: what to do when too many employees are out for weeks at a time due to illness or family emergencies.&nbsp;
<h2 class="wp-block-heading">Ramsey: &#8216;Grace Can Only Go As Far As the Math Allows&#8217;</h2>
With nine employees and around $700,000 in annual revenue, the specialty retail and race timing business owner told Ramsey she&#8217;s struggling with multiple extended employee absences.
&#8220;It&#8217;d be one thing if it were one person, but it&#8217;s multiple,&#8221; the owner said. &#8220;And I&#8217;m just a small retail store.&#8221;
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<li>Peter Thiel turned $1,700 into $5 billion—now accredited investors are eyeing this software company with similar breakout potential. Learn how you can <a href="https://www.benzinga.com/money/how-peter-thiel-turned-his-roth-ira-into-5-billion-and-why-accredited-investors-are-now-eyeing-this-smartphone-disruptor">invest with $1,000 at just $0.30/share.</a></li>
</ul>
Ramsey, who has run businesses of all sizes, told her, &#8220;At your size, you can only absorb so much of it in the name of grace. And then you can&#8217;t continue to absorb it all because you won&#8217;t have the money to pay the people that are there because the work&#8217;s not getting done.&#8221;
He sympathized with her desire to be kind and flexible, but said <a href="https://www.benzinga.com/news/topics/25/06/45829838/a-22-year-old-ceo-asks-dave-ramsey-what-to-do-about-an-employee-asking-for-ownership-his-advice-after-a-sincere-laugh-hit-the-road-jack">the numbers don't lie</a>. &#8220;My grace can only go as far as the math allows it.&#8221;
Ramsey explained that in his own company, they sometimes pay employees out on <a href="https://www.benzinga.com/personal-finance/24/12/42728529/suze-orman-warns-medicare-doesnt-cover-everything-why-you-need-2000-for-drugs-and-1676-for-hospital-costs-in-2025">extended medical leave</a>, but that luxury comes with scale. &#8220;When I was your size, I couldn&#8217;t do that. I didn&#8217;t have the money to do that.&#8221;
The small business owner clarified that her team members aren't lazy. &#8220;None of them I would look at and go, &#8216;Oh, you&#8217;re slacking.'&#8221;
Trending: Invest early in CancerVax's breakthrough tech aiming to disrupt a $231B market. <a href="https://www.benzinga.com/money/this-company-may-have-found-a-way-to-treat-cancer-by-tricking-the-bodys-immune-system-and-early-studies-show-some-promise-find-out-how-you-can-invest-in-the-future-of-cancer-treatment">Back a bold new approach to cancer treatment with high-growth potential.</a>&nbsp;
Still, Ramsey didn't pull punches. &#8220;Corporate America will <a href="https://www.benzinga.com/markets/tech/25/06/45810135/walmart-microsoft-disney-slash-jobs-as-trump-tariffs-ai-push-corporate-america-into-layoff-mode">fire their butt</a> with no feelings,&#8221; he said. &#8220;At least you got feelings.&#8221;
&#8220;Welcome to leadership. Sometimes it&#8217;s hard&#8230; because small business people like you and me, we care about folks, we don&#8217;t just cut their throat,&#8221; Ramsey noted.
He recommended setting a clear policy: allow three weeks of PTO, and then no more than one month unpaid. Beyond that, the position likely needs to be filled.
&#8220;You&#8217;re just never here, so we probably ought to call it out loud and say that,&#8221; he said. &#8220;I feel bad for you, but I also can&#8217;t go on not getting this work done.&#8221;
See Also: Maximize saving for your retirement and cut down on taxes: <a href="https://www.benzinga.com/money/wideradvisor-retirement-planning">Schedule your free call with a financial advisor to start your financial journey – no cost, no obligation</a>.
Ramsey said leaders can make exceptions when they feel truly called to support someone long-term, but added, &#8220;That&#8217;s a rare exception.&#8221;
His closing reminder: &#8220;The good of the whole outweighs the good of the one. When you can&#8217;t afford to do it, you can&#8217;t afford to do it. That's not evil, it&#8217;s just the stage of business you&#8217;re at. I&#8217;d like to tell you it gets easier. It gets more complicated, is all it gets from here.&#8221;
Read Next: The average American couple has saved this much money for retirement —<a href="http://www.benzinga.com/money/smartasset"> How do you compare</a>?
Image: Shutterstock

News

A Small Store Owner Struggles As Staff Constantly Call Out Sick Or Care For Family. Dave Ramsey Says Corporate America Would Just Fire Them

Donald Trump Jr. has joined billionaire entrepreneur Mark Cuban in publicly voicing disapproval of Sen. Elizabeth Warren (D-Mass.)&#8217;s approach to healthcare pricing.
Despite their political differences, Trump Jr. and Cuban found a common point of contention in Warren&#8217;s healthcare pricing strategy. They criticized the senator for not addressing&nbsp;the role of pharmacy benefit&nbsp;managers (PBMs) in escalating drug costs.
Warren had previously argued&nbsp;that the tax system was&nbsp;&#8220;rigged&#8221;&nbsp;because large pharmaceutical companies like&nbsp;Johnson &amp; Johnson&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JNJ#NYSE">JNJ</a>) often escape federal taxes while charging exorbitant prices for their drugs. 
She wrote on X saying that the "highest drug prices in the WORLD while often paying ZERO dollars in federal taxes themselves."
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Big Pharma companies like Johnson &amp; Johnson and Pfizer charge Americans the highest drug prices in the WORLD while often paying ZERO dollars in federal taxes themselves. Why? Because our tax system is rigged. Now, Republicans want to make it worse. I&#39;m fighting back. <a href="https://t.co/k7dFrXBneX">pic.twitter.com/k7dFrXBneX</a>
&mdash; Elizabeth Warren (@SenWarren) <a href="https://twitter.com/SenWarren/status/1935443373487440373?ref_src=twsrc%5Etfw">June 18, 2025</a></blockquote>
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Cuban countered this by stating that PBMs, not pharmaceutical companies, are the ones controlling and manipulating drug pricing.
Also Read: <a href="https://www.benzinga.com/news/25/01/43245984/cuban-on-musk-i-have-no-problem-throwing-elon-under-the-bus-but-ill-save-it-for-when-its-truly-deser">Cuban on Musk: &#8216;I Have No Problem Throwing Elon Under the Bus, but I&#8217;ll Save It for When It&#8217;s Truly Deserved&#8217;</a>
Trump Jr. publicly supported Cuban&#8217;s viewpoint on X, despite Cuban&#8217;s well-known opposition to President Trump. This unexpected agreement highlights the growing concern over the role of PBMs in healthcare pricing.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Didn't think I'd be RTing Mark for a while, but he's 100% right on this issue. <a href="https://t.co/ofraK5IFQk">https://t.co/ofraK5IFQk</a>
&mdash; Donald Trump Jr. (@DonaldJTrumpJr) <a href="https://twitter.com/DonaldJTrumpJr/status/1935817600891601345?ref_src=twsrc%5Etfw">June 19, 2025</a></blockquote>
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PBMs have been facing increasing scrutiny from federal regulators and lawmakers due to their influence on healthcare pricing. 
In 2020, the Federal Trade Commission released a report criticizing PBMs for imposing unfair terms on independent pharmacies, thereby favoring large corporate pharmacies like&nbsp;CVS&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVS#NYSE">CVS</a>).
The public criticism from Trump Jr. and Cuban underscores the growing debate over the role of PBMs in healthcare pricing. 
Warren&#8217;s focus on pharmaceutical companies, while not entirely misplaced, overlooks the significant influence of PBMs in determining drug prices.
The Federal Trade Commission&#8217;s report from last year further highlights the need for regulatory scrutiny of PBMs. As the debate continues, it remains to be seen how lawmakers will address the issue of healthcare pricing and the role of PBMs in the future.
Read Next
<a href="https://www.benzinga.com/news/politics/25/06/45829489/mark-cuban-reacts-to-elon-musk-donald-trump-feud">Mark Cuban Reacts to Elon Musk-Donald Trump Feud</a>
Image: Shutterstock/lev radin

Politics

Markets

Donald Trump Jr. Joins Mark Cuban In Slamming Elizabeth Warren on Healthcare Pricing

If you're working hard just to scrape by, Sen. Bernie Sanders (I-VT) says it's not just draining — it could be deadly.
According to a <a href="https://www.sanders.senate.gov/press-releases/new-report-working-class-americans-can-expect-to-die-at-least-7-years-earlier-than-the-wealthy/">Senate report released by Sanders</a> in March, the wealth gap in America isn't just about who can afford nicer things. It's about who lives longer. And the answer, Sanders says, is simple: "In America today, the bottom 50% of our population can expect to live seven years shorter lives than the top 1%."
It gets worse for rural, working-class Americans. In some parts of the country, the difference in life expectancy stretches to a full 10 years — with some counties facing a 15-year gap between the rich and poor. "Even worse," Sanders said, "Americans who live in working-class, rural counties can expect to die 10 years younger than people who live in wealthier neighborhoods across the country."
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The reason? "The <a href="https://www.benzinga.com/personal-finance/25/01/42914736/bernie-sanders-pushes-for-32-hour-work-weeks-with-no-pay-loss-it-is-time-to-reduce-the-stress-level-in-our-country">enormous stress</a> of living paycheck to paycheck," Sanders said, "not only causes far too many Americans to die much quicker than they should, but also leads to higher levels of anxiety, depression, cardiovascular disease and poor health."
The report shows that people living in the highest-income counties live over 84 years on average. In the poorest half of counties, life expectancy drops to 77.4. In rural areas where the median income is around $30,000, people are expected to live to just 71.7. Meanwhile, <a href="https://www.benzinga.com/personal-finance/24/11/41703390/are-you-richer-or-poorer-than-your-peers-heres-a-look-at-the-average-net-worth-for-your-income">people in suburban counties making over $100,000</a> often reach 81.6.
To put that in perspective: In Loudoun County, Virginia, life expectancy is 84. Just a few hours away in McDowell County, West Virginia, it's 69.
Sanders said he asked Americans on social media how <a href="https://www.benzinga.com/markets/tech/25/06/45968055/bernie-sanders-says-ai-boom-must-serve-working-families-not-billionaires-calls-for-shorter-work-week-higher-quality-of-life">stress from low wages and high costs</a> was impacting their lives. The responses poured in — and some were devastating.
Trending: Invest early in CancerVax's breakthrough tech aiming to disrupt a $231B market. <a href="https://www.benzinga.com/money/this-company-may-have-found-a-way-to-treat-cancer-by-tricking-the-bodys-immune-system-and-early-studies-show-some-promise-find-out-how-you-can-invest-in-the-future-of-cancer-treatment">Back a bold new approach to cancer treatment with high-growth potential.</a>
Edwardo from Texas wrote, "We struggle to get sleep. Our diets fluctuate, and we get sick from spoiled food from the donation pantry. Working long hours, I was recently injured and am struggling, unable to pay for care to help heal."
Caitlan from Colorado shared, "Stress isn't just an inconvenience for me — it's a direct threat to my heart. Living with a congenital heart defect and multiple mechanical valves means that every surge of anxiety, every sleepless night worrying about bills, isn't just mentally exhausting — it physically wears on my heart."
Sanders says these aren't outliers — they reflect a system that punishes people for being poor. His recommendations include:
<ul class="wp-block-list">
<li>Raising the minimum wage to at least $17 per hour </li>
<li>Enacting Medicare for All to guarantee health care</li>
<li>Providing paid family and medical leave</li>
<li>Expanding Social Security and restoring pensions</li>
<li>Making education accessible regardless of income or ZIP code</li>
</ul>
See Also: Maximize saving for your retirement and cut down on taxes: <a href="https://www.benzinga.com/money/wideradvisor-retirement-planning">Schedule your free call with a financial advisor to start your financial journey – no cost, no obligation</a>.&nbsp;
"In the richest country in the history of the world, it is absolutely unacceptable that so many Americans are seeing their lives cut short because they don't have enough money," Sanders said. "This is an issue that Congress must address."
A 2022 systematic review published in the <a href="https://pmc.ncbi.nlm.nih.gov/articles/PMC8863240/">National Library of Medicine</a> analyzed 40 studies, including many from the U.S., and found a consistent link between financial stress and depression. Americans facing debt, low income, or trouble affording basic needs were significantly more likely to experience depressive symptoms — especially those in lower-income households.&nbsp;
The message is clear: If you're middle class and barely hanging on, you're not just working your life away — you might be working it shorter, too.
Read Next: <a href="https://www.benzinga.com/money/are-you-rich">Are you rich?</a> Here&#8217;s what Americans think you need to be considered wealthy.
Image: Shutterstock

Personal Finance

Bernie Sanders Says Working-Class Americans Die 10 Years Earlier Than the Rich — Blames 'Enormous Stress of Living Paycheck to Paycheck'

Elon Musk has leveled a public accusation against Sergio Gor, a senior aide to President Donald Trump, <a href="https://www.benzinga.com/news/politics/25/06/45827968/trump-vs-musk-betting-markets-anticipate-next-move-in-musk-trump-feud-predict-low-chances-of-musk-forming-political-party">alleging a federal crime</a>.
What Happened: Musk asserts that Gor, currently serving as the director of the presidential personnel office, falsified his birthplace on federal forms, a misstep Musk labels as a &#8220;serious crime.&#8221;
This accusation surfaces amidst a growing dispute between Musk and Gor, which Musk suggests has strained his relationship with President Trump.
The allegations from Musk were triggered by a series of social media posts by race car driver Igor Sushko, who labeled Gor as a &#8220;Russian spy.&#8221; Sushko had disseminated a New York Post story that cast doubt on Gor&#8217;s birthplace, among other articles.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">He deliberately lied about where he was born on Federal forms. That's a serious crime.
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1936106956634439911?ref_src=twsrc%5Etfw">June 20, 2025</a></blockquote>
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At the heart of Musk&#8217;s allegation is his claim that Gor neglected to fill out his own SF-86, a vital vetting form needed for U.S security clearance. 
Also Read: <a href="https://www.benzinga.com/news/politics/25/06/45829416/trump-allegedly-calling-people-to-claim-elon-musk-has-serious-drug-problem-big-time-drug-addict">Trump Allegedly Calling People To Claim Elon Musk Has Serious Drug Problem: &#8216;Big-Time Drug Addict&#8217;</a>
This is despite Gor&#8217;s responsibility in&nbsp;vetting thousands of executive branch&nbsp;employees. The White House, however, maintains that Gor has completed the form and possesses the necessary clearance.
The conflict between Musk and Gor has been intensifying since Gor allegedly swayed Trump to retract the nomination of Musk&#8217;s friend, Jared Isaacman, for a leadership position at NASA. This event reportedly led to a rift between Musk and Trump, which has been under the public eye.
Why It Matters: The ongoing feud between Musk and Gor has significant implications, particularly considering Musk&#8217;s influential role in the tech industry and Gor&#8217;s position within the Trump administration. 
The fallout between Musk and Trump could potentially impact future collaborations between Musk&#8217;s companies and the federal government. 
Furthermore, the allegations against Gor, if proven true, could lead to serious legal consequences and shake up the current administration.
Read Next
<a href="https://www.benzinga.com/news/politics/25/06/45828246/trump-warns-musk-against-aiding-democrats-hell-have-to-pay-serious-consequences-if-he-does-that" target="_blank" rel="noreferrer noopener">Trump Warns Musk Against Aiding Democrats: ‘He'll Have To Pay Serious Consequences If He Does That'</a>
Image: Shutterstock

Elon Musk Levels Federal Crime Accusation Against Trump Aide Sergio Gor

Steve Jobs once argued the greatest innovators are "both the thinker and doer in one person," invoking Leonardo da Vinci to prove that creativity and execution rarely succeed apart.
What Happened: Addressing engineers in the early 1990s, the Apple (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APPL#NASDAQ">APPL</a>) co-founder <a href="https://allaboutstevejobs.com/videos/misc/future_of_pc_1990">said</a>, "The doers are the major thinkers. … Did Leonardo have a guy off to the side thinking five years out what he would paint? Of course not. Leonardo was the artist, but he also mixed all his own paints."
Jobs's point is that discovery flows from hands-on mastery. "It's very easy to take credit for thinking," he said. "Dig a little deeper and you find the people who really did it were also the people that worked through the hard intellectual problems as well."
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Veteran biographers note Jobs <a href="https://www.goodreads.com/quotes/629614-i-ve-never-believed-that-they-re-separate-leonardo-da-vinci-was">often cited</a> Renaissance polymaths to justify Apple's marriage of hardware, software and design.
See also: <a href="https://www.benzinga.com/markets/tech/25/06/46020016/pavel-durovs-100-plus-children-wont-see-a-cent-of-his-fortune-until-2055-heres-what-the-telegram-ceo-plans-to-do-with-his-estate">Pavel Durov&#8217;s 100-Plus Children Won&#8217;t See A Cent Of His Fortune Until 2055, Here&#8217;s What The Telegram CEO Plans To Do With His Estate</a>
Why It Matters: The thinker-doer thesis now frames a broader debate over when entrepreneurs hit their stride. Census Bureau data <a href="https://insight.kellogg.northwestern.edu/article/younger-older-tech-entrepreneurs">show</a> founders aged 40-plus are likelier to build high-growth firms than their twenty-something peers, a pattern <a href="https://www.benzinga.com/real-estate/23/01/30386966/amid-fears-of-a-recession-whats-been-driving-demand-for-multifamily-real-estate">echoed</a> by late-blooming icons such as Ray Kroc at McDonald's Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MCD#NYSE">MCD</a>) and Sam Walton at Walmart Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMT#NYSE">WMT</a>).
The gap reflects years spent &#8220;doing,&#8221; honing skills and spotting problems first-hand before leaping to &#8220;think&#8221; up solutions.
Modern CEOs frequently echo Jobs. Tesla Inc.'s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) Elon Musk reposted the quote last year with a <a href="https://www.benzinga.com/news/24/06/39393059/elon-musk-agrees-with-legendary-apple-co-founder-steve-jobs-on-thinker-doers-the-doers-are-the-major">one-word endorsement</a>: "True." Venture capitalist Paul Graham <a href="https://x.com/paulg/status/1840698085434884544">tells</a> founders to "learn by building" because abstract ideation rarely survives first contact with users.
For Jobs, that convergence of art and engineering remained Apple's guiding doctrine until his 2011 death. "There is no difference in our industry," he said. "The people that have really made the contributions have been the thinkers and the doers."
Photo Courtesy: rnkadsgn on Shutterstock.com
Read next: <a href="https://www.benzinga.com/news/health-care/25/06/46019567/mark-cuban-says-were-he-to-become-president-for-a-day-he-would-make-these-two-simple-moves-to-overhaul-us-healthcare">Mark Cuban Says Were He To Become President For A Day, He Would Make These Two Simple Moves To Overhaul US Healthcare</a>

Tech

APPL

TSLA

Steve Jobs Once Cited Leonardo Da Vinci's Example To Explain Why All 'Major' Thinkers Had This Trait That Made Them Exceptional

Billionaire Mark Cuban has revealed that the Kamala Harris campaign sought to vet him for the 2024 Democratic vice presidential nomination, <a href="https://www.benzinga.com/news/politics/25/06/45829489/mark-cuban-reacts-to-elon-musk-donald-trump-feud">an offer he chose to decline</a>.
What Happened: Cuban, ex-owner of the Dallas Mavericks, was asked by the Harris campaign to submit vetting documents for the VP role. The billionaire confirmed the rumor during an interview on Friday.
Cuban justified his decision <a href="https://www.thebulwark.com/p/mark-cuban-harris-camp-asked-for">by</a> stating in the interview, &#8220;I&#8217;m not very good as the number two person.&#8221; He further confessed his discomfort with the traditional vice presidential duties of &#8220;shaking hands and kissing babies.&#8221;
While Cuban speculated that the Harris campaign would have taken a &#8220;different&#8221; direction with him as the VP pick instead of Gov. Tim Walz (D-Minn.), he also conceded that a Harris administration with him as VP would have been a disaster.
&#8220;She would have fired me&nbsp;within six days,&#8221; Cuban admitted.
Also Read:&nbsp;<a href="https://www.benzinga.com/news/politics/25/06/45828246/trump-warns-musk-against-aiding-democrats-hell-have-to-pay-serious-consequences-if-he-does-that" target="_blank" rel="noreferrer noopener">Trump Warns Musk Against Aiding Democrats: ‘He'll Have To Pay Serious Consequences If He Does That'</a>
Despite rejecting the VP offer, Cuban remained a staunch supporter of Harris, making appearances at her events in battleground states and handling press calls. 
He even proposed that Harris could nominate him to head bodies&nbsp;such as the Federal Trade&nbsp;Commission or the Securities and&nbsp;Exchange Commission.
Why It Matters: The revelation of Cuban&#8217;s declined VP vetting offer adds a new dimension to the political landscape. His candid remarks about his unsuitability for the role underscore the importance of personality fit in political partnerships.
Despite his refusal, Cuban&#8217;s active support for Harris and his openness to leading federal agencies suggest his ongoing interest in political involvement. 
This development could potentially influence future campaign strategies and candidate selections.
Read Next
<a href="https://www.benzinga.com/news/25/03/44235243/mark-cuban-once-questioned-whether-donald-trump-is-really-a-billionaire">Mark Cuban Once Questioned Whether Donald Trump Is Really a Billionaire</a>
Image: Shutterstock/miss.cabul

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Here's Why Mark Cuban Declined To Be Considered for Kamala Harris' VP

Omi, a Paris-based startup revolutionizing product visuals with 3D modeling and artificial intelligence, has won the "Most Promising" prize at the 2024 LVMH Innovation Awards. The award was <a href="https://www.lvmh.com/en/publications/lvmh-recognizes-three-tech-partners-for-exceptional-collaborations-with-its-maisons-at-2025-lvmh-innovation-award-ceremony">presented</a> on June 12 in Paris at leading European tech conference VivaTech, hosted by LVMH Image and Environment Director Antoine Arnault.
Hugo Borensztein, co-founder and CEO of Omi, said the win reflects a broader shift happening across the luxury and retail industries. &#8220;Working with a Maison founded two centuries ago using the most advanced 3D and AI technologies expresses LVMH's bold, innovation-inspired vision. We are both honored and proud to be part of this adventure," Borensztein said in a statement by <a href="https://www.lvmh.com/en/publications/lvmh-recognizes-three-tech-partners-for-exceptional-collaborations-with-its-maisons-at-2025-lvmh-innovation-award-ceremony">LVMH</a>.
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<h2 class="wp-block-heading">Omi Offers AI-Driven Visuals For The Future Of Luxury Retail</h2>
Omi specializes in using 3D technology to streamline content creation for <a href="https://www.benzinga.com/25/05/45485580/someone-asks-why-do-people-still-equate-luxury-cars-with-being-rich-when-its-common-knowledge-anyone-can-finance-or-lease-a-luxury-car">luxury</a> brands, reducing costs while elevating quality. Its tools allow for the scalable production of photorealistic visuals used in online retail and marketing, according to Omi&#8217;s<a href="https://omi.so/"> website</a>.
According to <a href="https://www.voguebusiness.com/story/technology/content-creation-startup-omi-wins-most-promising-lvmh-innovation-award">Vogue</a>, the company has already worked with Guerlain, an LVMH-owned beauty house, on high-end product visual campaigns that merge legacy identity with modern production speed.
<a href="https://www.benzinga.com/markets/tech/25/06/45878935/nvidias-generative-ai-to-fuel-hyper-scalable-3d-rendering-for-loreal">L'Oréal</a> also announced a collaboration with Omi during VivaTech, introducing a new visual design process powered by Omi's 3D AI platform, according to <a href="https://www.forbes.com/sites/stephaniehirschmiller/2025/06/15/how-ai-is-powering-the-luxury-industry-now-viva-tech-lvmh-loral/">Forbes</a>. The partnership is part of L'Oréal's broader AI strategy within its CREAITECH platform.&nbsp;
Trending: Maximize saving for your retirement and cut down on taxes: <a href="https://www.benzinga.com/money/wideradvisor-retirement-planning">Schedule your free call with a financial advisor to start your financial journey – no cost, no obligation</a>.
<h2 class="wp-block-heading">LVMH Backs Tech To Reinvent Fashion And Beauty Experiences</h2>
Now in its ninth year, the LVMH Innovation Award program spotlights startups that are shaping the future of the luxury ecosystem. According to LVMH, this year's competition featured three top prizes.
Alongside Omi's win, the Best Business Award went to U.S.-based Kahoona for its personalization work with Dior. LVMH also announced that The Best Impact Prize was awarded to Genesis, a French startup collaborating with Moët Hennessy to digitally monitor and improve soil health in vineyards.
LVMH Chair and CEO Bernard Arnault praised the finalists for their "entrepreneurial spirit and hard work," adding that innovation remains central to the group's mission of excellence.
"Innovation has always energized the growth of our Maisons and their desirability. This innovation is not an end in itself, but rather a means to achieve excellence. I'm always delighted to meet these young entrepreneurs, and to see them working with our centuries-old Maisons and be recognized for their entrepreneurial spirit and hard work," Arnault said in the statement.
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<h2 class="wp-block-heading">Omi Joins A New Class Of AI-Powered Creative Startups</h2>
Omi says its technology allows brands to turn static product data into interactive 3D content that can be deployed across websites, e-commerce platforms, and social media.
Rather than relying on traditional photography or slow post-production workflows, the platform generates high-fidelity visuals directly from 3D models, streamlining product rollout and campaign development.
With LVMH recognizing Omi as a leader in innovation and a new partnership underway with L'Oréal, the startup may push brands a step toward broader adoption of AI-powered visual platforms in luxury.
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Image: Shutterstock

LVMH Awards AI Startup Omi For Disrupting Luxury Visuals With 3D Tech: 'Recognized For Their Entrepreneurial Spirit' Says Bernard Arnault

Starbucks Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SBUX#NASDAQ">SBUX</a>) might never have grown beyond six Seattle coffee shops if not for Bill Gates Sr., the towering attorney, who stepped in when Howard Schultz lacked the cash and the clout to buy the company in 1987.
What Happened: Schultz, then 33, had 60 days to raise $3.8 million after Starbucks' founders offered to sell the chain. One month in, he had only half the money, and a deep-pocketed investor from his previous venture, Il Giornale, swooped in with a higher $4 million bid. "I had no money. Nothing," Schultz later recalled at a Summit event in 2018.
A lawyer friend sent Schultz to meet his firm's senior partner — six-foot-seven Bill Gates Sr., father of Microsoft (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) co-founder Bill Gates. After hearing Schultz's story, Gates Sr. marched him across the street to confront the rival bidder. "You should be ashamed of yourself," Gates Sr. said to the bidder, according to Schultz. "You are going to stand down. And this kid is going to realize his dream."
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Gates pledged that he and his son would help finance the sale. Local investors soon joined, and on Aug. 15, 1987, Schultz bought Starbucks for the original $3.8 million price. The company has since expanded from 11 stores to more than 38,000 worldwide, with more than 16,000 outlets in the United States alone, according to Cafely.
Why It Matters: Schultz, who has narrated the story at several fireside chats since, credits Gates Sr. for protecting a young entrepreneur at the time. Gates Sr., who died in 2020, remained an informal mentor while Starbucks defined modern coffee culture and inspired rival chains worldwide.
For Starbucks&#8217; stock, the 200-day moving average sits at $95.64, according to Benzinga Pro, which is above the current price of $92.28 at market close on Thursday.
TD Cowen analyst Andrew M. Charles recently kept a Hold on Starbucks and held his $90 price target, noting investors have begun rotating into the stock amid optimism that CEO Brian Niccol can <a href="https://www.benzinga.com/analyst-stock-ratings/analyst-color/25/06/45931482/starbucks-at-a-crossroads-analyst-sees-chipotle-like-potential-but-warns-of-declining-value-perception">replicate the turnaround</a> he engineered at Chipotle.
Benzinga Edge Stock Rankings indicate that Starbucks has a Momentum in the 68th percentile and Growth in the 37th. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">Check here to see how rival restaurant stocks rank in comparison</a>.
<figure class="wp-block-image size-large"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-4/#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img loading="lazy" decoding="async" width="1024" height="148" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/19164502/sbux-edge-1024x148.png" alt="" class="wp-image-955240" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/19164502/sbux-edge-1024x148.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/19164502/sbux-edge-300x43.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/19164502/sbux-edge-768x111.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/19164502/sbux-edge.png 1380w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>
Photo Courtesy: Cloudy Design on Shutterstock.com
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Financing

MSFT

SBUX

Bill Gates Sr. Helped Howard Schultz Buy Starbucks In 1987 By Towering Over A Rival Investor: 'This Kid Is Going To Realize His Dream'

How important is a job title? Some people work their way up the corporate ladder by earning higher-ranking titles, but one Redditor ended up with a peculiar opportunity.
The individual has been working toward a senior vice president title and finally got the opportunity at their current company. However, this individual also received a job offer from another company that doesn't have the fancy title. This second job offers <a href="https://www.reddit.com/r/HENRYfinance/comments/1l9xf3b/career_advice_two_positions_approached_me/">much higher pay</a>, and the potential employer is an AI startup, which can result in plenty of growth opportunities.&nbsp;
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The Redditor asked if it made sense to accept the higher-paying job and walk away from the job with the better title.
"Is this a no brainer?" the Redditor asked the HENRY Finance community.
Here's what fellow Redditors suggested.
<h2 class="wp-block-heading">Follow The Money</h2>
Most Redditors encouraged the original poster to ignore the job title and focus on pay. The top commenter said that the work you do and the compensation matter the most. This commenter even went on to say that a title doesn't mean anything.
"This lesson was one that I wish someone had instilled in me many years ago," one person responded to the comment.
People climb the corporate ladder and pursue higher titles to boost their earnings. If you can work in your profession and earn more money with the same title than with the higher ranking title, you will grow your retirement account faster.&nbsp;
Trending: Maximize saving for your retirement and cut down on taxes: <a href="https://www.benzinga.com/money/wideradvisor-retirement-planning">Schedule your free call with a financial advisor to start your financial journey – no cost, no obligation</a>.
<h2 class="wp-block-heading">The AI Startup's Current Outlook Also Matters</h2>
Although the AI startup is offering more pay, it's important to assess the long-term stability of that job. Some startups come crashing down after a few years, while the Redditor's current employer is the one that's offering the better title and a salary bump.
One commenter suggested that the original poster assess the AI startup based on its funding stage, who the investors are, the founder's business history, and who their top clients are. This same commenter also suggested comparing the equity packages between the AI startup and the current company.&nbsp;
Knowing this information can help the original poster decide which opportunity makes more sense from a risk standpoint. While the AI startup offers higher pay, it may not matter if the company goes out of business within two years. However, if the equity package is good and the AI startup skyrockets in value, it can be an incredible opportunity for the original poster.
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<h2 class="wp-block-heading">Understanding Startup Culture</h2>
One commenter pointed out that startup culture can require a lot of hours that exceed what you'd put into a 9-to-5 job. The commenter is optimistic that the hours will be more reasonable since the job offers a high salary but shared a warning with the original poster.
"If you have kids, I cannot recommend working for a startup with a true startup culture," the commenter said.
A part of the comments section shifted from startup culture to the job title. Some people suggested that she negotiate a higher title in the startup. It's also possible for the Redditor to mention this offer to her employer and ask if they will give her a higher salary. Even if it's not a complete match, the Redditor can use negotiating tactics to get a better title at the startup or a higher salary from her current job.
Read Next: Can you guess how many retire with a $5,000,000 nest egg? <a href="https://www.benzinga.com/money/5mil-nest-egg-adv">The percentage may shock you</a>.
Image: Shutterstock

A HENRY Redditor Asks If She Should Take A Job With Higher Pay Or A Better Title: 'Is This A No Brainer?'

Sword Health <a href="https://swordhealth.com/newsroom/sword-health-raises-40m-launches-mind">announced</a> Tuesday that it had raised $40 million in a recent funding round, giving it a $4 billion valuation.
<a href="https://swordhealth.com/faqs">Founded in 2015</a>, the healthcare startup has focused on helping people manage chronic pain at home. Using AI tools, the platform connects users with expert clinicians who then provide patients with tools for digital physical therapy, pelvic health, and overall mobility health.
However, the company says this new round of funding will largely go towards developing a mental health arm of its program called Mind.&nbsp;
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"Today, nearly 1 billion people worldwide live with a mental health condition. Yet care remains fragmented, reactive, and inaccessible," Sword said in the&nbsp; announcement. "Mind redefines mental health care delivery with a proactive, 24/7 model that integrates cutting-edge AI with licensed, Ph.D-level mental health specialists. Together, they provide seamless, contextual, and responsive support any time people need it, not just when they have an appointment."
Sword CEO Virgílio Bento told <a href="https://www.cnbc.com/2025/06/17/sword-health-raises-40-million-expands-into-mental-health-with-ai.html">CNBC</a>, "[Mind] really a breakthrough in terms of how we address mental health, and this is only possible because we have AI."
Users will be equipped with a wearable device called an M-band, which will measure their environmental and physiological signals so that experts can reach out proactively as needed. The program will also offer access to services like traditional talk therapy. Bento told CNBC that a human is "always involved" in patients care in each of its programs, and that AI is not making any clinical decisions.
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For example, if a Sword patient has an anxiety attack, AI will identify it through the wearable and bring it to the attention of a clinician, who can then provide an appropriate care plan.
"You have an anxiety issue today, and the way you're going to manage is to talk about it one week from now? That just doesn't work," Bento told CNBC. "Mental health should be always on, where you have a problem now, and you can have immediate help in the moment."
According to Bento, Sword Mind already has a waiting list, and is being tested by some of its partners who appreciate it's "personalized approach and convenience."
"We believe that it is really the future of how mental health is going to be delivered in the future, by us and by other companies," he told CNBC. "AI plays a very important role, but the use of AI — and I think this is very important — needs to be used in a very smart way."
The rest of the cash raised in the funding round, which was led by General Catalyst, will go towards acquisitions, global expansion, and AI development, Sword Health says.&nbsp;
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Image: Shutterstock

Sword Health Now Valued At $4 Billion, Announces Expansion Into Mental Health Services

A former Redfin (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RDFN#NASDAQ">RDFN</a>) management lead and founder of a Credit Karma-acquired startup has launched RetroRate, a California-based proptech company aiming to bring assumable mortgages into the mainstream. On June 9, RetroRate<a href="https://medium.com/retrorate/retrorate-announces-funding-round-and-public-release-b25f42b2e8d0"> announced</a> both its official launch and a $2.2 million seed round led by Swift Ventures, with additional backing from Eniac, Cooley Ventures, Keshif Ventures, Interlock Capital, Launch Factory, and Arkus Nexus.
Andy Taylor, who previously led product at Redfin and founded the mortgage startup Approved before its 2018 acquisition by Credit Karma, told<a href="https://www.realestatenews.com/2025/06/13/startup-aims-to-bring-assumable-mortgages-to-the-masses"> Real Estate News</a> that RetroRate was inspired by mortgage trend data he analyzed while overseeing rate tables during his time at Credit Karma.
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Real Estate News says that while analyzing rate data in 2020 and 2021, Taylor discovered assumable loans, an option that allows buyers to take over a seller's mortgage rate and balance, which he had never encountered despite working in the industry since 2009.
&#8220;I&#8217;ve been in the business since 2009, and I had never heard about assumable loans,&#8221; Taylor told Real Estate News. &#8220;It was almost shocking.&#8221;
<h2 class="wp-block-heading">Up To 25% Of Listings Hold Assumable Mortgages, But The Market Is Unaware</h2>
Assumable mortgages are typically linked to government-backed loans such as the Federal Housing Administration, the Department of Veterans Affairs, or the U.S. Department of Agriculture programs and can save buyers hundreds or thousands of dollars monthly compared to new loans at current interest rates, Real Estate News says.
According to Taylor, RetroRate's analysis of multiple listing service and property data suggests that between 20% and 25% of homes listed for sale today may have an assumable mortgage attached. Despite the prevalence, Real Estate News says that buyers and agents rarely pursue these deals due to outdated, paper-based processes and the lack of centralized digital tools.
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RetroRate provides a proprietary, searchable database of homes with assumable mortgages, both on and off market, and ranks them by financial appeal. Buyers pay a 1% fee at closing to access the service, which Taylor described as a "supercharged rate buy-down" with a much shorter payback period.
"Our goal is to make assumable loans just another financing type, like a 30-year fixed or a 5/1 [adjustable-rate mortgage]," Taylor told Real Estate News. "We don't want agents to become experts in this process—we want to be the ones that make it easy for them."
<h2 class="wp-block-heading">Taylor Sees A Process Ripe For Automation And Scale</h2>
RetroRate concluded its beta phase in June after working with agents across 10 states including California, Florida, Texas, and North Carolina. The company launched its assumable loan platform in those same markets, which were chosen based on the volume of assumable mortgage inventory and affordability challenges, Real Estate News reports.&nbsp;
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While the benefits are clear, the process remains cumbersome. Taylor told Real Estate News that some deals require buyers to make large cash payments to cover the gap between home value and mortgage balance, and lender reviews can extend timelines beyond that of conventional financing.
Taylor acknowledged these issues but sees them as indicators of a system overdue for modernization, Real Estate News says, believing that automation and digital tools can reduce friction significantly.
<h2 class="wp-block-heading">A Long-Term Bet On Buyer Demand</h2>
Taylor emphasized that RetroRate is built to thrive regardless of interest rate movement. With the majority of U.S. homeowners still holding mortgages below current market rates, he expects older loans to remain attractive for years, Real Estate News reports.
"There is always going to be someone out there who's got that better rate," Taylor told Real Estate News. "RetroRate is not about one narrow trend. It&#8217;s about restoring affordability and creating liquidity. That&#8217;s a mission we can build on no matter what rates do."
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Image: Shutterstock

RDFN

Redfin Veteran Launches Startup To Unlock Thousands In Monthly Savings Saying The Goal Is 'To Make Assumable Loans Just Another Financing Type'

Benzinga examined the prospects for <a href="http://www.benzinga.com/trading-ideas" target="_blank" rel="noreferrer noopener">many investors' favorite stocks</a> over the last week — here's a look at some of our top stories.
Escalating tensions between Israel and Iran, and President Donald Trump's renewed attacks on Fed Chair Jerome Powell, unsettled markets this week. The Federal Reserve held rates at 4.25-4.5%, cut its 2026 rate‑cut outlook, and signaled two cuts in 2025 amid growing inflation concerns. Trump called Powell "an American disgrace," renewing calls for outsized rate cuts.
Markets fluctuated on geopolitical and central‑bank uncertainty. Energy and defense stocks lagged, while treasury yields climbed modestly as investors weighed inflation risks. Renewables fell following proposed tax‑credit rollbacks.
Looking ahead, investors are watching Fed nominations — Trump hinted at replacing Powell — as well as developments in the Middle East and next week's economic data. Any signals on Fed independence or geopolitical escalation could significantly sway sentiment.
Benzinga provides daily reports on the stocks most popular with investors. Here are a few of this past week's most bullish and bearish posts that are worth another look.

The Bulls
<a href="https://www.benzinga.com/crypto/cryptocurrency/25/06/46030182/circle-stock-rockets-540-cathie-wood-says-weve-just-begun">"Circle stock rockets 540%: Cathie Wood says ‘we've just begun'"</a>, by Erica Kollmann, reports that Circle Internet Group Inc. (NYSE: CRCL) shares have surged 540% since their June 5 IPO — hitting $199.59 — after a Senate vote on the GENIUS Act and bullish remarks from ARK Invest's Cathie Wood, who said "we've just begun on a very big journey here."
<a href="https://www.benzinga.com/markets/commodities/25/06/45994711/uranium-stocks-on-11-week-tear-their-longest-winning-streak-in-history">"Uranium stocks on 11‑week tear — their longest winning streak in history"</a>, by Surbhi Jain, reports that uranium equities and ETFs — including Global X Uranium ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/URA#NYSE">URA</a>) and Sprott Uranium Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/URNM#NYSE">URNM</a>) — have rallied for 11 consecutive weeks, marking their longest uninterrupted winning streak on record.
<a href="https://www.benzinga.com/trading-ideas/movers/25/06/46007657/gorilla-technology-stock-surges-on-q1-earnings-as-momentum-builds">"Gorilla Technology stock surges on Q1 earnings as momentum builds"</a>, by Adam Eckert, reports that Gorilla Technology Group Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GRRR#NASDAQ">GRRR</a>) shares climbed sharply after Q1 results showed revenue doubled to $18.26 million year-over-year and adjusted earnings swung to a $0.23 profit from a $1.47 loss, while its $5 billion pipeline and $33.8 million cash position bolstered investor confidence.
For additional bullish calls of the past week, check out the following:
<a href="https://www.benzinga.com/news/health-care/25/06/45999930/aptevo-therapeutics-touts-data-from-investigational-drug-trial-for-aggressive-blood-cancer">Aptevo Therapeutics Touts Data From Investigational Drug Trial For Aggressive Blood Cancer</a>
<a href="https://www.benzinga.com/trading-ideas/movers/25/06/46007657/gorilla-technology-stock-surges-on-q1-earnings-as-momentum-builds">Oklo Stock Is Rising Again: What's Going On?</a>
<a href="https://www.benzinga.com/markets/tech/25/06/45982049/vertiv-holdings-stock-25-off-highs-is-now-riding-nvidias-ai-wave">Vertiv Holdings Stock, 25% Off Highs, Is Now Riding Nvidia's AI Wave</a>

The Bears
<a href="https://www.benzinga.com/analyst-stock-ratings/downgrades/25/06/45981680/sunrun-receives-downgrade-as-analyst-warns-business-model-relies-on-inflated-system-values-for-tax-credits">"Sunrun receives downgrade as analyst warns business model relies on inflated system values for tax credits"</a>, by Anusuya Lahiri, reports that Sunrun Inc. (NASDAQ: RUN) was downgraded to Sell by GLJ Research's Gordon L. Johnson II, who warned that the company depends on overstating solar system values to claim tax credits — an exposure that the pending Senate bill could curtail and threaten its cash flow.
<a href="https://www.benzinga.com/news/travel/25/06/45983684/jetblue-ceo-more-cuts-ahead-as-airline-faces-prolonged-losses">"JetBlue CEO: More cuts ahead as airline faces prolonged losses"</a>, by Erica Kollmann, reports that CEO Joanna Geraghty warned employees that weak travel demand has forced JetBlue Airways Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JBLU#NASDAQ">JBLU</a>) to implement further flight and cost reductions and to delay its break-even target, potentially prolonging losses despite planned capacity cuts and route eliminations.
<a href="https://www.benzinga.com/trading-ideas/technicals/25/06/46000107/mcdonalds-stock-slips-below-200-day-line-can-the-big-arch-reverse-the-slide">"McDonald's stock slips below 200‑day line — can ‘The Big Arch' reverse the slide"</a>, by Surbhi  Jain, reports that McDonald's Corp. (NYSE: MCD) shares have fallen below their 200‑day moving average — alongside key technical indicators like an RSI of 25.75 and a bearish MACD — while options markets reflect little optimism despite the launch of the "Big Arch" burger.
For more bearish takes, be sure to see these posts:
<a href="https://www.benzinga.com/markets/earnings/25/06/45984979/beyond-air-stock-dips-after-mixed-q4-results-heres-what-to-know">Beyond Air Stock Dips After Mixed Q4 Results: Here's What To Know</a>
<a href="https://www.benzinga.com/cannabis/25/06/45997534/canadian-medical-marijuana-firm-aurora-cannabis-expects-weak-demand-in-international-market">Canadian Medical Marijuana Firm Aurora Cannabis Expects Weak Demand In International Market</a>
<a href="https://www.benzinga.com/trading-ideas/movers/25/06/45995637/houston-american-energy-stock-is-sinking-wednesday-heres-why">Houston American Energy Stock Is Sinking Wednesday: Here's Why</a>

Keep up with all the latest breaking news and trading ideas by following <a href="https://twitter.com/Benzinga" target="_blank" rel="noreferrer noopener">Benzinga</a><a href="http://twitter.com/Benzinga" target="_blank" rel="noreferrer noopener"> on X</a>.
Image created using artificial intelligence via Midjourney.

APVO

CRCL

GRRR

HUSA

JBLU

OKLO

URNM

XAIR

Benzinga Bulls And Bears: Circle, Sunrun, JetBlue — And Mideast Has Markets Nervous

Reddit Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RDDT#NYSE">RDDT</a>) is reportedly exploring a partnership with Tools for Humanity, the company behind Sam Altman's World ID and iris-scanning Orb, to offer anonymous but verified user identities.
What Happened: Reddit has been in talks with Tools for Humanity to integrate World ID, a biometric verification system powered by its Orb device, <a href="https://www.semafor.com/article/06/20/2025/reddit-considers-iris-scanning-orb-developed-by-a-sam-altman-startup">reported</a> Semafor, citing two people familiar with the matter.
The Orb scans a user's iris to confirm they are a unique human, offering proof of personhood without collecting personally identifiable information.
If implemented, World ID could become one of Reddit's third-party verification options, allowing users to confirm their identity anonymously amid growing concerns over bots, fake accounts and AI-generated content on social media platforms, the report added.
See Also:&nbsp;<a href="https://www.benzinga.com/markets/equities/25/06/45899111/apple-may-end-up-acquiring-perplexity-like-it-did-with-beats-in-2014-says-dan-ives-consumers-need-reasons-to-upgrade-as-iphone-maker-falls-way-behind-in-ai-race" target="_blank" rel="noreferrer noopener">Apple May End Up Acquiring Perplexity Like It Did With Beats In 2014, Says Dan Ives—Consumers Need ‘Reasons To Upgrade&#8217; As iPhone Maker Falls ‘Way Behind&#8217; In AI Race</a>
Why It&#8217;s Important: World ID is part of a broader initiative by Tools for Humanity—co-founded by OpenAI CEO Altman—to distribute cryptocurrency called Worldcoin in exchange for biometric verification, aiming to establish a universal digital identity system.
Earlier this month, it was reported that Reddit is gaining more visibility in Google's AI Overviews, becoming the second most-cited source after Quora, according to Semrush.
This boost is linked to Reddit's $60 million content licensing deal with Alphabet Inc.'s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) Google in 2024. However, analysts caution that the increased exposure may not lead to <a href="https://www.benzinga.com/markets/tech/25/06/45943729/reddit-is-the-second-most-cited-source-in-google-ai-overviews-but-logged-out-traffic-may-undercut-revenue-gains">significant revenue growth for Reddit</a>.
Benzinga&#8217;s Edge Stock Rankings indicate a consistent upward trajectory for Reddit across short, medium and long-term periods. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">More detailed performance data is available here</a>.
<figure class="wp-block-image aligncenter size-full"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/21041653/Screenshot-2025-06-21-at-1.45.27%E2%80%AFPM.png" alt="" class="wp-image-956949" /></a></figure>
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Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Henry Franklin/Shutterstock

GOOG

GOOGL

RDDT

Reddit Eyes Sam Altman's Iris-Scanning Orb To Verify Real Users Without Compromising Anonymity: Report

X has been working on its payment service for some time now and a new report has revealed that it also plans to include a physical debit card.
What Happened: The app&#8217;s recent updates reveal code strings indicating features like card activation, shipping status checks, and more, according to a report <a href="https://techcrunch.com/2025/06/20/x-app-code-points-to-a-physical-card-coming-to-x-money/">by</a> TechCrunch on Friday.
The new debit card, customizable with users&#8217; X usernames, is part of X&#8217;s broader strategy to compete with&nbsp;digital banks and payment services. The news follows&nbsp;Linda Yaccarino, X&#8217;s CEO, announcing a partnership with&nbsp;Visa&nbsp;for the X Money service,&nbsp;which will enable instant funding of&nbsp;X Wallet accounts via Visa&nbsp;Direct.
Yaccarino mentioned that this is the first of many announcements for X Money this year. The company has been securing&nbsp;money transmitter licenses across the&nbsp;U.S., now covering 40 states and Washington, D.C. The app&#8217;s code also hints at potential cashback and deferred debit features, and mentions support for&nbsp;MasterCard&nbsp;and&nbsp;Amex.
Also Read: <a href="https://www.benzinga.com/news/financing/25/06/46019534/elon-musks-x-plans-to-launch-in-app-stock-trading-to-challenge-robinhood-sofi-ceo-says-youll-whole-financial-life-could-be-on-the-platform">Elon Musk&#8217;s X Plans To Launch In-App Stock Trading To Challenge Robinhood, SoFi — CEO Says You&#8217;ll &#8216;Whole Financial Life&#8217; Could Be On The Platform</a>
Why It Matters: Elon Musk, owner of X, has long aimed to transform the app into an &#8220;everything app,&#8221; incorporating payments and banking. This aligns with his earlier ventures, including co-founding X.com, which evolved into PayPal . X plans to announce X Money later this year.
The introduction of a physical debit card is part of&nbsp;<a href="https://www.benzinga.com/25/01/43376448/elon-musks-x-money-to-see-about-600-million-active-monthly-users-via-visa-direct-integration">Elon Musk&#8217;s vision</a>&nbsp;for X as an all-encompassing financial platform. Earlier this year, it was revealed that X Money could potentially reach around 600 million active monthly users through its integration with Visa Direct, enhancing the platform&#8217;s capability for instant fund transfers.
Additionally, the move aligns with X&#8217;s broader strategy to offer a comprehensive suite of financial services, including <a href="https://www.benzinga.com/news/financing/25/06/46019534/elon-musks-x-plans-to-launch-in-app-stock-trading-to-challenge-robinhood-sofi-ceo-says-youll-whole-financial-life-could-be-on-the-platform">in-app stock trading</a>, which aims to challenge existing platforms like Robinhood Markets and SoFi Technologies. This initiative underscores X&#8217;s ambition to integrate users&#8217; entire financial lives into its ecosystem.
Furthermore, Musk&#8217;s push for a&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/25/01/42806463/elon-musks-push-for-crypto-powered-everything-app-reflected-in-x-money-leak-as-bitcoin-hovers-around-100k">crypto-powered &#8220;everything app&#8221;</a>&nbsp;is reflected in&nbsp;the X Money service, which&nbsp;may include cryptocurrency features. This aligns with Musk&#8217;s longstanding interest in digital currencies and his previous ventures in the fintech space.
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Image Via Shutterstock
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Elon Musk's X To Offer Physical Debit Cards As Part Of His 'Everything App' Vision: Report

To avoid a <a href="https://www.benzinga.com/news/24/01/36590820/google-dealt-a-blow-in-2-6b-eu-antitrust-fine-as-court-advisor-suggests-dismissing-appeal">hefty fine from the EU</a>, Alphabet Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) Google is reportedly offering to revamp its search results to better showcase rivals, as scrutiny over the tech giant&#8217;s dominance intensifies.
What Happened: According to internal documents seen by Reuters, Google has proposed new concessions aimed at satisfying the European Commission's concerns over its preferential treatment of in-house services like Google Shopping, Flights and Hotels.
Under the new proposal, a vertical search service (VSS) chosen by objective, non-discriminatory criteria would receive a prominent box at the top of Google&#8217;s search page, formatted identically to Google's listings.
This box would include three direct links selected by the rival VSS, covering areas like hotels, restaurants, airlines and transport. Other VSS results would still appear, but without the dedicated box—unless clicked by users, the report noted.
See Also: <a href="https://www.benzinga.com/markets/tech/25/06/45827474/google-co-founder-larry-page-predicted-a-machine-that-would-understand-everything-on-the-web-has-that-25-year-old-pipe-dream-finally-turned-into-reality">Google Co-Founder Larry Page Predicted A Machine That Would &#8216;Understand Everything On The Web,&#8217; Has That 25-Year Old Pipe Dream Finally Turned Into Reality?</a>
&#8220;We do not agree with the (Commission&#8217;s) preliminary findings&#8217; position but, on a without prejudice basis, we want to find a workable solution to resolve the present proceedings,&#8221; the documents sent by both Google and the Commission to the rivals read.
The European Commission is expected to host a feedback meeting with rival companies on July 8. However, some rivals, speaking anonymously, expressed dissatisfaction, claiming Google's changes still fall short of ensuring fair competition, the report said.
Why It&#8217;s Important: In January, <a href="https://www.benzinga.com/25/01/43274659/google-fights-record-eu-android-fine-claims-users-choose-its-services-over-rivals">Google also challenged</a> a record $4.55 billion EU antitrust fine in court, arguing that users naturally preferred its search engine and Chrome browser.
Alphabet posted <a href="https://www.benzinga.com/25/04/44995955/alphabet-q1-earnings-highlights-google-search-youtube-cloud-show-robust-momentum">first-quarter revenue</a> of $90.23 billion, marking a 12% increase from the prior year and surpassing the Street consensus estimate of $89.2 billion, according to Benzinga Pro. Google Search contributed $50.7 billion, up from $46.2 billion.
Benzinga's Edge Stock Rankings show that Alphabet continues to trend upward across short, medium and long-term timeframes. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">Additional performance details are available here</a>.
<figure class="wp-block-image aligncenter size-full"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/21031103/Screenshot-2025-06-21-at-12.39.03%E2%80%AFPM.png" alt="" class="wp-image-956933" /></a></figure>
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Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: JHVEPhoto / Shutterstock.com

Google Offers To Boost Rivals In Search Results To Avoid EU Antitrust Fine Under Digital Markets Act: Report

Mitsubishi Corp. has announced a $3.9 billion investment in the U.S. clean energy sector. This marks Mitsubishi's most significant U.S. energy commitment since its founding in 1870
What Happened: The company plans to increase its solar power generation capacity in the U.S. by 160% by 2028, according to a report <a href="https://asia.nikkei.com/Business/Energy/Japan-s-Mitsubishi-Corp.-bets-big-on-US-solar-with-3.9bn-expansion-plan">by</a> Nikkei Asia.
This expansion is not a standalone initiative—it's part of Mitsubishi's broader goal to double its global renewable energy capacity by 2031.
Mitsubishi's move aligns with the growing momentum in the U.S. renewables market, driven by government incentives, grid modernization efforts, and rising demand for sustainable energy. The decision reflects a calculated response to these converging trends, not a speculative bet.
In the U.S., Mitsubishi operates in the energy space through Diamond Generating Corp., Nexamp Inc., and Boston Energy Trading &amp; Marketing.
Why It Matters: The investment comes amid the U.S. renewable market gaining momentum with government incentives and an increase in sustainable energy demand.
At present, Mitsubishi Corp. operates solar assets with a total output of about 1.1 gigawatts through its U.S. subsidiary Nexamp, based in Massachusetts. The plan is to elevate this number to 2.9 GW by 2028.
Nexamp will transition its procurement to local suppliers such as Heliene and Silfab Solar. The company also has plans to inaugurate its first mega solar farm in the Southwest in 2027, along with high-output plants in the Midwest and other regions.
Despite the anticipated reduction in tax credits for solar power generation from 2029, a source from Itochu mentioned that the cost of solar power is sufficiently low to allow for project development without dependence on subsidies.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Image via Shutterstock

Mitsubishi Makes Largest US Energy Bet Since 1870 With $3.9 Billion Solar Push

Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) executives have held internal discussions <a href="https://www.benzinga.com/markets/equities/25/06/45899111/apple-may-end-up-acquiring-perplexity-like-it-did-with-beats-in-2014-says-dan-ives-consumers-need-reasons-to-upgrade-as-iphone-maker-falls-way-behind-in-ai-race">about potentially acquiring</a> Perplexity AI.
What Happened: Adrian Perica, Apple's head of M&amp;A, floated the idea with senior leaders, including services chief Eddy Cue, <a href="https://www.bloomberg.com/news/articles/2025-06-20/apple-executives-have-held-internal-talks-about-buying-ai-startup-perplexity?srnd=phx-technology">reported</a> Bloomberg, citing people familiar with the matter.
The talks are still in early stages and to date, no direct outreach to Perplexity has occurred, said the report.
Perplexity AI, responding to the publication, stated, "We have no knowledge of any current or future M&amp;A discussions involving Perplexity."
Apple did not immediately respond to <a href="https://pro.benzinga.com/dashboard">Benzinga's</a> request for comments.
See Also:&nbsp;<a href="https://www.benzinga.com/25/03/44069535/anthropic-ceo-dario-amodei-pushes-for-stronger-us-ai-safeguards-saying-autocracies-like-china-and-russia-could-use-ai-to-expand-their-power" target="_blank" rel="noreferrer noopener">Jeff Bezos-Backed Anthropic Pushes For Stronger US AI Safeguards, Saying Autocracies Like China, Russia Could Use AI To Expand Their Power</a>
Why It's Important: On Friday, Apple was sued by shareholders who claim the company misled investors about how quickly advanced AI features — <a href="https://www.benzinga.com/25/03/44345486/apple-scrambles-to-fix-siris-ugly-and-embarrassing-ai-failures-after-public-missteptop-executive-admits-marketing-it-too-soon-made-things-worse">especially improvements</a> to Siri — would be integrated, reported Reuters.
The complaint, filed in San Francisco federal court, accuses Apple executives, including CEO Tim Cook, of downplaying delays in AI development, which allegedly impacted iPhone sales and stock value.
Since peaking in December 2024, the company has seen a decline of nearly $900 billion in market value, the report noted.
Price Action: Apple shares have fallen 17.57% since the beginning of the year and are down 3.13% over the past 12 months, according to <a href="http://pro.benzinga.com/dashboard">Benzinga Pro</a>.
Benzinga's Edge Stock Rankings highlight a consistent downward trend for Apple across short, medium and long-term timeframes. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">Further performance details are available here</a>.
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Photo courtesy: jamesteohart / Shutterstock.com

AAPL

Apple Eyes Perplexity AI Acquisition While Facing Shareholder Lawsuit Over Exaggerated AI Progress: Report

California&#8217;s ongoing legal conflict with the Trump administration over the deployment of military forces in Los Angeles has escalated after an appeals court decision that provided Donald Trump with a procedural advantage.
What Happened: California&#8217;s legal dispute with the Trump administration over military deployment in Los Angeles returned to a federal court in San Francisco, according to a report <a href="https://www.theguardian.com/us-news/2025/jun/20/california-troops-national-guard-los-angeles">by</a> The Guardian on Friday.
The Ninth Circuit appellate panel&#8217;s decision on Thursday allowed Trump to maintain control over the National Guard troops he deployed amid protests against immigration raids.
This ruling overturned a temporary restraining order by US District Judge Charles Breyer, who previously determined Trump&#8217;s actions were illegal without California Governor Gavin Newsom&#8216;s consent.
See Also: <a href="https://benzinga.com/news/politics/25/06/46041289/trump-could-stop-this-war-with-one-phone-call-says-iranian-official-as-tehran-warns-us-of-retaliation-if-conflict-with-israel-escalates">Trump Could Stop This War With One Phone Call, Says Iranian Official As Tehran Warns US Of Retaliation If Conflict With Israel Escalates</a>
Despite this setback, California&#8217;s legal team is expected to request a preliminary injunction from Breyer to return control of the troops to Newsom. Protests in Los Angeles began two weeks ago due to aggressive immigration raids, with sporadic violence reported.
Trump argued the military presence was necessary to restore order, while Newsom contended it exacerbated tensions and undermined local authority.
The appellate panel acknowledged the administration&#8217;s justification for federalizing the troops, citing protester violence as evidence. The ruling allows federal control of California&#8217;s National Guard to continue as the lawsuit progresses. Trump celebrated the decision, suggesting potential future deployments, while Newsom vowed to challenge what he termed Trump&#8217;s &#8220;authoritarian&#8221; actions.
Why It Matters: On June 8, Governor Gavin Newsom criticized the deployment as unlawful, arguing that it violated state sovereignty and <a href="https://www.benzinga.com/news/politics/25/06/45830221/gavin-newsom-calls-deployment-of-national-guard-in-los-angeles-unlawful-says-there-was-no-problem-until-trump-got-involved-serious-breach-of-state-sovereignty">worsened tensions during ongoing protests</a>.
This sentiment was echoed by the UN Human Rights Chief, who urged the U.S. to <a href="https://www.benzinga.com/news/politics/25/06/45945179/un-human-rights-chief-urges-us-to-avoid-using-military-force-against-anti-trump-protesters-calls-for-protection-of-peaceful-assembly-rights">respect peaceful assembly rights</a> and avoid military force against protesters.&nbsp;
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Rawpixel.com / Shutterstock.com

California-Trump Legal Battle Over National Guard Deployment Escalates After Court Ruling

Sam Altman, CEO of OpenAI, shared insights on the influence of AI on his children during the inaugural episode of the OpenAI Podcast, released Wednesday.
Altman believes AI tools like ChatGPT will make his children more capable, though not necessarily more intelligent, than previous generations.
What Happened: Altman, who announced the birth of his first child on February 22, emphasized that while AI will present challenges, the benefits will surpass the drawbacks. He stated, &#8220;My kids will never be smarter than AI,&#8221; but they will excel in utilizing these technologies. Altman expressed confidence that future generations will not be troubled by AI&#8217;s superior intelligence.
He also acknowledged potential societal issues arising from AI, such as increased dependency and problematic parasocial relationships. However, Altman remains optimistic about AI&#8217;s overall positive impact.
Altman described himself as &#8220;extremely kid-pilled,&#8221; advocating for having more children, and revealed that ChatGPT significantly aids his parenting approach, despite its tendency to &#8220;hallucinate&#8221; or provide incorrect information.
See Also: <a href="https://benzinga.com/markets/tech/25/06/46023822/sam-altman-says-he-didnt-think-elon-musk-would-abuse-government-power-tesla-ceo-hits-back-with-scam-">Sam Altman Says He &#8216;Didn&#8217;t Think&#8217; Elon Musk Would Abuse Government Power, Tesla CEO Hits Back With &#8216;Scam Altman&#8217; Jibe</a>
Why It Matters: The conversation around AI&#8217;s impact on future generations comes amid <a href="https://www.benzinga.com/markets/tech/25/06/46023822/sam-altman-says-he-didnt-think-elon-musk-would-abuse-government-power-tesla-ceo-hits-back-with-scam-altman-jibe">ongoing tensions</a> between Altman and Elon Musk. Altman recently expressed regret over underestimating Musk&#8217;s influence in government, specifically regarding the &#8220;Stargate&#8221; data-center deal.
Additionally, Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) has been <a href="https://www.benzinga.com/markets/tech/25/06/45988600/mark-zuckerbergs-meta-dangled-100-million-signing-bonuses-to-openai-team-members-says-sam-altman-happy-none-of-our-best-people-took-them">aggressively attempting to recruit OpenAI&#8217;s top talent</a>, offering substantial salaries. However, Altman has been <a href="https://www.benzinga.com/markets/tech/25/06/46041399/meta-tried-luring-openais-top-minds-with-massive-paychecks-but-sam-altman-neglected-to-mention-that-hes-countering-those-offers-says-andrew-bosworth">actively countering these offers</a> to retain his team.
Furthermore, Altman has previously noted that AI can replace entry-level jobs, a sentiment echoed in a panel discussion with Snowflake CEO Sridhar Ramaswamy.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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Sam Altman Says AI Will Make His Kids More Capable, Not More Intelligent: 'My Kids Will Never Be Smarter Than AI'

Meta Platforms, Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) billion-dollar AI hiring spree is heating up, but according to CTO Andrew Bosworth, OpenAI isn't letting go of its top talent without a serious fight.
What Happened: In an interview with CNBC's Closing Bell Overtime on Friday, Meta's Bosworth revealed that OpenAI is actively countering Meta's lucrative job offers to retain its top employees.
Earlier this week, in a podcast, OpenAI CEO Sam Altman said that Meta was offering <a href="https://www.benzinga.com/markets/tech/25/06/45988600/mark-zuckerbergs-meta-dangled-100-million-signing-bonuses-to-openai-team-members-says-sam-altman-happy-none-of-our-best-people-took-them">$100 million signing bonuses</a> to poach OpenAI staff. However, Bosworth responded, saying, "Sam neglected to mention that he's countering those offers."
Bosworth, a veteran at Meta since 2006, also spoke about the unprecedented demand for elite AI talent. "The market is setting a rate here for a level of talent which is really incredible and kind of unprecedented."
Also Read:&nbsp;<a href="https://www.benzinga.com/media/25/05/45680165/meta-hits-1-billion-monthly-ai-users-eyes-future-with-subscriptions" target="_blank" rel="noreferrer noopener">Meta Hits 1 Billion Monthly AI Users, Eyes Future With Subscriptions</a>
Why It's Important: Meta's aggressive recruitment strategy has included an investment in Scale AI and <a href="https://www.benzinga.com/markets/tech/25/06/45919069/meta-invests-in-scale-ai-at-29-billion-valuation-taps-ceo-alexandr-wang-to-drive-internal-ai-push-as-part-of-deepening-partnership">hiring its co-founder</a> Alexandr Wang to help drive its superintelligence efforts.
Previously, it was also reported that <a href="https://www.benzinga.com/markets/tech/25/06/46041192/after-failed-ssi-takeover-meta-now-eyes-ceo-daniel-gross-and-ex-github-chief-nat-friedman">Meta had attempted to acquire</a> Safe Superintelligence, the new startup co-founded by former OpenAI executive Ilya Sutskever.
Although the acquisition didn't happen, <a href="https://www.benzinga.com/markets/tech/25/06/46010604/mark-zuckerbergs-meta-reportedly-looking-to-hire-former-github-ceo-nat-friedman-and-investor-daniel-gross-as-part-of-aggressive-ai-expansion-strategy">Meta is now reportedly hiring</a> Daniel Gross, along with former GitHub CEO Nat Friedman, both of whom are involved in Safe Superintelligence through their venture firm, NFDG.
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Benzinga's Edge Stock Rankings indicate that META continues to trend upward across short, medium and long-term periods. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound'">More detailed performance insights are available here</a>.
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Meta Tried Luring OpenAI's Top Minds With Massive Paychecks, But Sam Altman 'Neglected To Mention That He's Countering Those Offers,' Says Andrew Bosworth

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