Here's Your Fortune: Make Your Kids Rich, Dollar Dilemma, AI Superpower and TaskRabbit Side Hustle

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. 😎 

Today’s post is 1,842 words (~4 minutes). Don’t be lazy… let’s get rich!

Cool Fact: NYC's Botched Bot. New York City's attempt at a helpful AI assistant for small businesses went hilariously wrong. The chatbot, designed to be a legal guru, ended up being more like a criminal mastermind. It was caught giving out advice so bad, it would make a seasoned lawyer blush. From suggesting illegal workplace practices to greenlighting rat-infested restaurants, this bot was less helpful and more harmful. Talk about a bad case of AI amnesia!

Today’s Digest: 

1. NEW VIDEO 👉🏼 Money Moves for Kids. Check out the latest video on developing a saving and investing strategy for kids.

2. Struggling to Keep Up: The American Financial Reality. Discover the deep-rooted financial challenges facing millions of Americans.

3. AI Superpower: Llama 3.1 - The Future of AI is Here. Learn more about Llama 3.1 and its potential to change everything.

4. Fixer Upper Frenzy: Cash In With TaskRabbit. Discover the steps to turn your skills into a profitable side hustle.

KENNY FINANCE ON YOUTUBE!

Back again with a Friday special on YouTube! As I said before, my goal is to touch a million lives through financial wellness and provide the framework, insights and playbook to be SMART with your money.

Few things:

1. Check out tonight’s video on Making Your Kids Rich 💸 I made my nephew a future multi-millionaire with this simple strategy.

2. Make sure you Subscribe and hit those bell notifications so you never miss a beat 📲

3. WATCH THE ENTIRE VIDEO! Pls and thank you… it helps the YT algorithm spread to others who could use the advice

4. Like and comment and let me know what you think 🤩

5. I’ll be uploading fire content every Friday until you’re rich

6. Check out KENNY FINANCE for other videos

TOP STORY

The Squeeze is On: Americans Feel the Financial Pinch

America, the land of opportunity, is currently experiencing a collective case of financial heartburn. A staggering 39% of Americans are living in a constant state of worry about making ends meet. That's nearly two out of five people stressing about paying the bills. These numbers aren’t just statistics; they represent real people struggling to keep their heads above water.

The Great Recession left a lasting scar on the American psyche, and it seems we’re reliving a similar nightmare. Back then, 37% of people were plagued by financial anxiety. Today, we're almost there again. It's as if we’re on a rollercoaster, but instead of thrills, we’re getting a stomach ache.

The culprit? Inflation, that sneaky price-hiking bandit. While it might be slowing down, its past misdeeds have left a trail of financial wreckage. The average household is shelling out a whopping $925 more per month compared to three years ago. That’s enough to fund a small vacation or, more realistically, a mountain of bills.

But it’s not all doom and gloom. There’s a silver lining, albeit a small one. Wages are finally outpacing prices, reversing a painful trend. However, this doesn’t help those who’ve already fallen behind. Many are turning to desperate measures like side hustles and credit card debt to survive.

Angela Russell, a CDC employee, is a prime example. She's traded city life for a cheaper rural rental, cut back on entertainment, and even switched to library books instead of buying them. Her story is a reflection of millions of Americans who are tightening their belts to the point of snapping.

The road to financial recovery is long, but with awareness and collective action, we can help ease the burden on those struggling to make ends meet. After all, a nation can’t truly prosper if its people are constantly worried about where their next dollar is coming from.

BITS OF GOLD

• CrowdStrike's $10 Oops

• Cybersecurity firm CrowdStrike caused a global meltdown last week when a botched update bricked millions of computers. To say sorry for the epic fail that brought airports, hospitals, and businesses to a standstill, the company is offering affected partners a measly $10 Uber Eats gift card. Talk about a band-aid on a bullet wound. It's clear that this incident will be a tough pill to swallow for customers who suffered significant losses.

• Elon Musk Takes a $16 Billion Bath

• Elon Musk's golden goose, Tesla, laid a giant egg yesterday. The electric car company's disappointing earnings sent its stock plummeting, dragging Musk's net worth down by a staggering $16 billion in a single day. That's more money than most people will see in a lifetime. While the world's richest man is still swimming in cash, it's a sobering reminder that even billionaires can feel the pinch.

• Goldilocks Economy? US Shows Signs of Perfect Balance

• The US economy is doing the economic equivalent of walking a tightrope – but without a net, and while juggling flaming chainsaws. That's a good thing! Business activity just hit a 27-month high, with growth chugging along nicely. The cherry on top? Inflation is finally starting to simmer down. Looks like the US economy might just pull off a rare "Goldilocks" scenario – not too hot, not too cold, just right.

• Gen Z Wants Stability over Stockpiles of Cash

• Forget the high life of "Wolf of Wall Street." Gen Z is ditching the tech world's beanbag chairs for the (supposedly) stable world of finance. With a shaky economy and rising living costs, young adults are prioritizing security over perks. They're trading ping pong tables for clear career paths and predictable paychecks.

• Tech Wreck Wreaks Havoc on Wall Street

• The tech bubble is starting to deflate. After a wild ride fueled by AI hype, the stock market took a nosedive yesterday. Big tech players like Tesla, Google, and Nvidia saw their shares plummet, dragging the entire market down with them. It seems investors are finally realizing that the future of AI might not be as rosy as they hoped.

🏠💸TASTE OF THE FUTURE WITH AI

Meta's AI Beast: Llama 3.1 Unleashed

Meta has just unleashed a digital monster. Llama 3.1 isn't just an AI model; it's a brain-bending, world-shaking piece of tech that’s making the rest of the industry sweat. With a mind-boggling 405 billion parameters, this AI titan is basically the Einstein of computers.

But here’s the kicker: Meta decided to share its secret sauce with the world. Instead of hoarding this AI gold, they're dishing it out like candy on Halloween. It’s like opening up a supercharged engine blueprint and saying, "Hey world, let's build some awesome stuff together!"

This open-source move is a huge deal. Imagine having access to a super-intelligent assistant that can write poetry, code software, or even help you plan your next vacation. That's the potential of Llama 3.1. It’s like having a genius sidekick who's always ready to impress.

Of course, with great power comes great responsibility. AI can be a double-edged sword. It's up to developers and users to wield it wisely. But the potential benefits are too massive to ignore. From curing diseases to creating mind-blowing art, the sky's the limit.

Meta's bet on open-source AI is a bold one, but it could pay off big time. If they can foster a thriving community of developers, the possibilities are endless. So, buckle up, world. The AI revolution is here, and it’s going to be one wild ride.

Other Cool AI News!

• The Productivity Paradox

• AI was supposed to be our office fairy godmother, waving a magic wand and making all our work woes disappear. Instead, it's turned into more of a demanding office manager, piling on extra tasks and driving employees to the brink of burnout. A recent survey found that while bosses are expecting AI to work miracles, employees are drowning in extra work just to keep up. Looks like we've traded one set of office headaches for another.

• Can AI Heal a Broken Heart?

• Meet Jayce, the kid with a Robo-Dad. That's right, in a world where tech is blurring the lines between life and death, one family is pioneering a new kind of father-son bonding. Their late dad lives on as a chatbot, dishing out advice and sharing memories. It's a heart-wrenching yet fascinating glimpse into the future of grief and technology. But let's be real, there's an uncanny valley of weirdness lurking around every corner of this digital afterlife experiment.

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

Hammer Your Way to Riches: TaskRabbit Side Hustle 🛠

Tired of the 9-to-5 grind? Fancy yourself a bit of a handyman? TaskRabbit could be your ticket to financial freedom and a whole lot of satisfaction. Let's dive into the world of turning wrenches into wealth.

Overview of this Side Hustle: Become a real-life superhero, minus the cape. You're the knight in shining armor for people with wonky Wi-Fi or crooked shelves. TaskRabbit is your kingdom, and satisfied customers are your loyal subjects. It's like being a freelance problem-solver, but with better tools than a screwdriver and duct tape.

Startup Cost: Starting a handyman gig on TaskRabbit is cheaper than your morning coffee. You probably already own the basics: a hammer, screwdriver, and maybe a questionable amount of duct tape. Spend a little extra on a decent toolbox, business cards, and perhaps a background check if the platform requires it. It's more about your skills than your startup capital.

Capital Intensity: Forget fancy equipment or expensive licenses. Your arms, brain, and a can-do attitude are your most valuable assets. This isn't about pouring money into a business; it's about turning your handy skills into cold, hard cash. The more sweat you put in, the bigger your reward.

Interesting Growth Opportunities: Start small, master your craft, then level up. Expand your skillset, tackle bigger projects, and become the go-to expert in your area. Build a loyal customer base, leverage online reviews, and who knows? You might end up on a home improvement show. Or at least, get your fifteen minutes of fame on TikTok fixing someone's wonky bookshelf.

Earning Potential: The sky's the limit for handy people! Rates vary, but you can expect to make anywhere from $25 to $50 an hour. If you're in a high-demand area and can handle complex jobs, you could easily earn $300-$500 per week. Focus on high-demand services, build a strong reputation, and watch your earnings grow. It's like finding money in the couch cushions, but way more rewarding (and less dusty).

Ready to transform your toolbox into a treasure chest? Sign up for TaskRabbit, hone your skills, and watch your earnings grow. Remember, every fixed faucet and assembled bookshelf is a step closer to financial independence. So grab your tools, and let's get to work!

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.