Here's Your Fortune: AI Music, Flipping Couches & TikTok Tea!

Tomorrow’s Fortune

Welcome to the action-packed newsletter designed to help you navigate the world of business, investing, and technology. You owe it to yourself to stay informed! If you missed last week’s post, check it out here. 😎 

Cool Fact: 2018's AI "Masterpiece" Sells for Big Bucks. Forget chimpanzees with typewriters… An algorithm's squiggles just sold for a shocking $432,500! This has some art critics scratching their heads and wondering if a toddler with a crayon could be the next Picasso (of the AI age, that is). 🖍

Today’s Digest:

• TikTok Drama : Ban Blues? Love it or Hate It, It's Making Money Moves. 💰

• AI vs. Musicians: Harmony or Havoc? Can AI steal the spotlight? Find out how musicians can fight back!

• ️Furniture Flipping Frenzy! Turn trash into treasure with this easy side hustle! Unleash your inner designer! ✨

TOP STORY

TikTok Tango: Ban or Boom? Creators Cash In or Cash Out?

Imagine that terrifying moment your parents threatened to confiscate your phone in middle school, but instead of your folks, it's the entire US government.

That's the situation TikTok is facing right now. The House of Representatives just passed a bill that could potentially BAN the app in the US unless it finds a new owner.  They need to chill out…

This is a HUGE deal. It's the first time a law like this has been aimed at a social media platform.  Some folks are worried it might mess with free speech, but others argue TikTok might be a little too good at, well, ticking.

TikTok's parent company, ByteDance, is definitely not grooving to this potential ban. They're scrambling to find a buyer before the app gets yeeted off the internet faster than a viral dance challenge. But even if they dodge the ban, some people are wondering if TikTok is all fun and games, or if it's actually helping out small businesses.

While TikTok's future is uncertain, one thing's clear: it's been raking in serious cash for some small businesses. The app claims it generated a whopping $14.7 BILLION for these businesses in 2023.  That's enough money to buy a whole lot of followers (or at least a lifetime supply of Ring Lights).

Apparently, 88% of small businesses using TikTok saw a sales increase after promoting their stuff on the platform.  Some businesses even say TikTok is like their cool aunt who always gives them money (without all the guilt trips).  Now that's a valuable connection. 

Forget lemonade stands, the real money's on TikTok these days.  Even if you're not a dance pro, there are ways to become a TikTok tycoon. Think of your account as a mini mall. Open a TikTok Shop and sell your own stuff, or become a TikTok Business, basically a walking, talking (or dancing) ad for other brands. Partnering with them through affiliate programs lets you earn a commission every time someone buys through your link.

No need for millions of followers. Even everyday creators can get paid through the TikTok Creator Fund.  The more views you get, the more cash you rake in. Here's the lowdown:

• 100,000+ followers: $200 to $1,000 per month

• 1 million+ followers: $1,000 to $5,000 (or more) per month

• Mega-Influencers: $100,000 to $250,000 per single post (whoa!)

So, here’s the big question: Is TikTok a treasure trove or ticking time bomb? While the future is uncertain, one thing's for sure: the app has minted some serious cash for businesses and creators. Maybe if TikTok is banned one of my subscribers will build the next big social media app and make us all rich.

BITS OF GOLD

• Fed needs more evidence before cutting rates

  • We've got Jerome Powell, the Fed chair, playing it chill, waiting for solid evidence before making any moves on interest rates. While the market's buzzing like a beehive, Powell's keeping his cool, dropping hints but making sure we stay on track, no climate change drama here.

• Basketball sensation offered a bag 

  • Big3 is throwing major cash at college baller Caitlin Clark! Ice Cube himself confirmed a whopping $5 million offer to lure her to their 3-on-3 league. This could be a game-changer for both sides, with Clark potentially becoming a barrier-breaking icon and Big3 getting a mega-star. Talk about a slam dunk (literally)!

• I normally don’t gamble… buttt…

  • Powerball madness! The jackpot's skyrocketing to a crazy $1.23 billion, the 9th biggest lottery prize ever in the US. No winner on Wednesday, but that just fuels the frenzy for Saturday's draw. Imagine turning $2 into life-changing money? Tickets are flying off shelves, and with each one sold, the pot gets juicier. Will someone snatch this dream or will the jackpot keep growing? Guess we gotta wait and see.

• Apparently you need $1.5M to retire…

  • Retirement dreams are getting loftier than a hot air balloon!  Americans now think they need a cool $1.46 million to retire, but most have a measly $88,400 saved. Yikes! Blame inflation, longer lifespans, and Gen Z's plan to retire at 60 and live forever.  The key takeaway? We need better financial planning to bridge this gap and avoid a ramen noodle-filled retirement.

🏠💸TASTE OF THE FUTURE WITH AI

Did AI Drake and Future just win a Grammy? 🏆

Hold up. Hold. The. Phone.  ✋  Obsessed with those crazy catchy leaks on TikTok from Drake, Playboi Carti, and Gunna? Turns out your FYP might be lying like a bot caught with fake followers. Those tracks? AI-generated. 😲

Yep, that's right. Artificial intelligence is learning how to drop fire tracks that sound like your favorite artists. Scary good, even.  But before you start packing up your instruments and blaming the robots for stealing your Grammy dreams, here's the down low:

• AI's got the remix power: Imagine a world where you can instantly get an AI-made cover of your fave song. Party anthem with a Bollywood twist? Country ballad remixed for EDM raves? The possibilities are endless (and slightly terrifying).

• Royalty-free jams for your next viral video: Struggling to find the perfect background music for your genius TikTok skit? AI can whip up royalty-free tracks that won't get your video muted. Boom. Problem solved.

• Music for the masses (made by machines?): AI is making it easier than ever for anyone to become a music producer, no matter your skill level. Think instant hit machine, minus the actual garage band (although, an AI garage band would be pretty epic).

But here's the thing.  A whole lotta musicians are not feeling the robot takeover.

• Billie Eilish, Katy Perry, Smokey Robinson, and over 200 other artists: Signed an open letter demanding that AI developers stop using AI in ways that hurt human artists.

• Signatories of the letter: Elvis Costello, Norah Jones, Nicki Minaj, Camila Cabello, Kacey Musgraves, Jon Batiste, Ja Rule, Jason Isbell, Pearl Jam, Sam Smith and dozens more spanning every musical genre.

Their concerns are three-fold: first, they fear AI  could steal their signature sounds and voices. Second, they worry that AI might be trained on their music without any compensation, essentially forcing them to pay rent to their robotic replacements. Finally, there's a looming fear of saturation – a future overflowing with AI-generated music that drowns out the voices of human artists, leaving them tangled and lost like headphones in a messy drawer.

The message? AI is here to stay, but it shouldn't replace the human touch.  So, while AI might be able to crank out catchy tunes, it can't replicate the raw emotion and creativity that comes from real artists.

Now get out there and make some music that would make even the most advanced AI robot stop and say, "Dang, that human is good."

Other Cool AI News!

• OpenAI wants to create your personalized voicemail

  • AI rockstars just unleashed Voice Engine, a tool that can clone your voice in 15 seconds like magic!  Imagine your voice as your translator or reading bedtime stories in a million languages.  Plus, a lucky few companies are already testing it out. But this tech can also be misused for scams, so get ready for a wild ride as synthetic voices take over the world (ethically, we hope).

• Lonely? Just text your AI group chat

  • Ever feel like your social battery is running low and real people just don't get you? Well, ditch the dating apps and lonely nights, because Nomi AI is here to be your new BFF (or boo if you swing that way). 

    • Nomi can be your customized AI companion, acting as a friend, mentor, or even a potential romantic partner.

    • Talk about your deepest thoughts, get advice, or just shoot the breeze - Nomi remembers everything you've said, making your conversations smoother than butter. 

    • Nomi can even hang out in group chats, seamlessly switching between group banter and one-on-one conversations. 

WHAT ABOUT TODAY’S FORTUNE? SIDE HUSTLE OF THE WEEK 💸

Cash from the Couch: How to Turn Your Spare Time into a Furniture Flipping Empire

Ever look at a dusty old dresser and see a hidden gem instead of firewood? Then furniture flipping might be your calling! It's like treasure hunting, but instead of gold doubloons, you score forgotten furniture and breathe new life into it, all while making some serious cash.

How to get started?

1. Overview of the Business:

Don't toss that tired dresser! With a little TLC (tender loving care), you can transform it from trash to treasure. Furniture flipping is like thrifting for buried gold, but instead of doubloons, you score unique pieces with a vintage vibe. A splash of paint, some new upholstery, and a dash of DIY magic can turn these forgotten finds into cash (and maybe even a new favorite piece for your home!).

2. Average Startup Cost:

The beauty of furniture flipping is that you don't need to break the bank. Forget fancy offices or expensive equipment! Our superstar flipper, Sara Chen, started with a cool $30 on sandpaper, tack cloth, and paint. That's less than a fancy night out, but with a little creativity, it can turn into a side hustle that pays your rent!

3. Capital Intensity:

Unlike businesses that require a ton of upfront investment, you can start with very little. Think of your spare room as your workshop and grab those screwdrivers gathering dust in the toolbox. You might need a few extra supplies like sandpaper or paint (which can cost anywhere from $0-$100 depending on what you already have), but overall, it's a super low-key operation. This allows you to test the waters with minimal investment (think $0-$100) and potentially turn hidden gems into profitable pieces.

4. Interesting Growth Opportunities:

Furniture flipping isn't a dead-end street. You can leverage your newfound skills into new revenue streams! Sara, for example, saw a goldmine in bad furniture photos on Facebook Marketplace. With her photo-editing magic, she started helping other flippers sell their pieces faster with better pictures.

5. Earning Potential:

Forget those get-rich-quick schemes! Furniture flipping offers a realistic chance to boost your bank account. Sara turned her creative passion into a side hustle that brings in an extra $2,500 to $3,000 a month!  With profit margins hovering around a sweet 70% to 90%, you can turn a dusty dresser into a down payment on your dream vacation, all while giving it a second chance to shine.

So, if you're looking for a side hustle that combines creativity, treasure hunting, and the satisfaction of giving old furniture a new lease on life, furniture flipping might be your golden ticket.  Roll up your sleeves, grab your paintbrush, and get ready to turn trash into treasure! Remember, with a little effort and some TLC, you can take a forgotten piece and turn it into a masterpiece (and maybe a masterpiece of savings too).

This newsletter is for informational purposes only and does not constitute investment advice. The content is based on publicly available information, and the author makes no representations about its accuracy or completeness. Readers should conduct their own research before making any investment decisions.