Here's Your Fortune: Kitchen Crisis, AI Assist & From Suds to Shine

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! Hope you enjoy our first issue 😎 

Cool Fact: In the 90s, AI had a 'fashion moment' with Tamagotchis – those virtual pets that fit in your pocket! Released in 1996, these tiny, digital creatures were a global craze, teaching a generation responsibility and, inadvertently, introducing them to the concept of AI companionship. Turns out, nurturing a virtual pet was our first taste of the AI revolution, one pocket-sized pixel at a time! 🤖🐾

Today’s Digest:

• Grocery wallets weeping! 💸 Americans are spending big on food, maybe cooking at home isn’t as affordable anymore... Hello McDonald’s!

• Worried about robots taking over your job? Chill out, chief! Our guide to AI in the workplace has got your back.

• Ditch the Bucket, Grab the Bucks! 💸 Car Detailing Profits Shine as Bright as Your Rims! ✨ This guide reveals how a mobile detailing hustle can transform you from weekend warrior to gleam machine kingpin, raking in up to $75k/month!

TOP STORY

Americans Spending More Than Ever on Food

Remember that sigh of relief when gas prices dropped last month? Well, don't get too comfy. Inflation, the sneaky force behind rising costs from groceries to rent, is still hanging around at a stubborn 3%. That's like shelling out $103 for last year's $100 grocery run – ouch!

So, guess what? Americans are dishing out more dough for food than they have in forever – well, actually, the past three decades. According to the USDA, folks in the US are splurging over 11% of their cash on food, whether they're cooking up a storm at home or dining out, marking the highest slice of the pie since 1991. Jesse Newman, the Wall Street Journal's food guru, spilled the beans to CBS News, labeling this spending spree as a 31-year high in disposable personal income tracking.

Why's the food bill breaking the bank? Blame it on those eye-watering food prices and the ongoing inflation saga, which has many folks feeling the pinch despite stats flashing low unemployment rates, fatter paychecks, and steady economic growth. The forecast? Inflation's supposedly taking a breather this year, with experts from the National Association for Business Economists predicting a drop in the Consumer Price Index (CPI) to a mere 2.4%, down from the 4.1% in 2023 and a jaw-dropping 8% in 2022.

For ages, the share of income spent on grub in the US was in a nosedive. But then 2022 hit, lockdown rules relaxed, and suddenly, Americans were back at their favorite eateries. But this dine-out revival ain't cheap – restaurant prices in January soared 5.1% from the previous year, per the latest CPI data. Talk about a pricey bite!

But hold onto your wallets, 'cause it's not just restaurants. By the end of 2023, grocery bills were almost 20% heavier than in 2021. What's fueling these sky-high prices? Well, labor costs are taking a big bite. With 22 states upping their minimum wage game in January, restaurants and food companies are feeling the heat. Minimum wage hikes across the board are cramping their style, especially for fast-food joints. And don't think the food makers are innocent bystanders – some folks reckon they're using inflation as an excuse to hike up prices.

Now, why does this matter? Well, imagine your grocery bill suddenly feels like it's doing the cha-cha with your bank account, and your favorite burger joint now charges a kidney for fries. Understanding these rising costs helps you navigate the grocery aisles and restaurant menus like a boss. Bonus: it's not just about toast (though that too!), it's about making informed choices for your wallet and the economy. One tip to combat inflation is to invest in the markets and keep your savings in a High Yield Savings account (and some are literally just giving away free money at interest rates of 5%+)🤔

BITS OF GOLD

• Crypto Making a Comeback Rally? 

  • Is it just me or have people completely forgotten about Crypto? Well, the good news is that the dogecoin and NFTs nonsense has gone away and seems like the OG crypto assets, like Bitcoin, Ethereum and Solana, are here to stay! And the even better news is that the OG-OG, Bitcoin is currently on a tear! Not only did BlackRock's brand new Bitcoin ETF (lovingly called IBIT) rake in a record-breaking $520 million in a single day, but Bitcoin itself is now trading at $60,000 (up 164% since last March). No promises that we’re back in the glory days… but it’s for sure looking nice.

• AI Has Landed on the Moon with NVIDIA Earnings

  • Who knew computer boards could be so valuable? Well… they were hot a few years ago for all the streamers and gamers. But now the biggest driver is AI systems requiring a lot of compute power which is only possible with NVIDIA processors. 🔥And guess what? Their stock shot up 30% in February (after crushing earnings), making them the real MVP. 😎

• Don’t Bite More Than You Can Chew… Apple Goes Pencils Down on Electric Vehicles

  • Apple ditched its self-driving car dreams and shifted its focus to AI. While the car project might have boosted Tim Cook's legacy, the reality of manufacturing and stiff competition made them hit the brakes. The race to dominate the EV market could end up controlled by a handful of players like Tesla, and we may see other EV efforts from other tech companies in the near future.

  • Speaking of Tesla, the long-awaited Roadster electric sports car is finally revving its engines and hitting the road... in 2025, that is. After years of anticipation and speculation, Tesla confirmed production is officially a go, with the potential to shake things up in the supercar scene.

• Retail Stores Still Chalked? Macy’s Closes 150 Stores and SF Headquarters

  • Forget "everything must go" sales, Macy's is having a major mid-life crisis with 150 stores closing and the shuttering of their San Francisco headquarters. This hints at the long-winded trend of people shopping less in stores… especially in San Francisco, which is facing record amounts of crime, homelessness and drug abuse. Step it up SF elected officials… or ask the tech billionaires right next door to help!

• Personal Finance: Half of Americans Can’t Afford a Down Payment

  • Forget student loan blues! The real hurdle for aspiring homeowners is tight budgets (54%) and high living costs (51%). Ditch the "broke student" myth, it's the high cost of living that's putting homeownership on hold. Buckle up, the road just got bumpier. But hey, explore down payment assistance, budgeting, and make that dream home a reality! 🏡

TASTE OF THE FUTURE WITH AI

AI on the Job: Are Robots Coming for Your Job? Not So Fast (But Here's What You Need to Know)

Ever wonder if a robot might be stealing your office chair? A new study by the Pew Research Center sheds light on how artificial intelligence (AI) is shaking things up in the American workforce. Here's the lowdown for you, our valued subscriber:

Turns out, your job might be more susceptible to AI if:

• You're a college grad who wields analytical skills like a data-crunching ninja (think critical thinking and wrangling spreadsheets).

• Your job requires manual repetitive tasks that could easily be replicated using AI.

Hold on, this doesn't mean AI is coming to steal your lunch (yet)! The study doesn't predict job losses, but it highlights industries where AI's impact might be more noticeable.

Here's the real tea:

• One in five U.S. workers has a job where AI could replace or assist with their main tasks. Think data entry or equipment repair – those repetitive tasks are prime targets for AI.

• On the other hand, jobs that involve caring for others or require physical activities are less likely to feel the immediate heat from AI.

While some folks are worried about losing their jobs to robots, a surprising finding is that many workers in AI-impacted industries actually believe AI will help them, not replace them. They see it as a tool to boost productivity and potentially create new job opportunities.

Here's the real kicker: You're in the know about these trends. Knowing how AI might impact your field empowers you to be proactive and take charge of your future.

Here's your action plan to stay ahead of the curve:

• Become an AI insider: Hoo-Ray! You subscribed to my newsletter… so this is settled. But if you want more, follow trusted sources like the Pew Research Center to stay updated on the ever-evolving world of AI and its impact on jobs.

• Sharpen your unique skills: Focus on building skills that are less susceptible to automation, like creativity, critical thinking, and tackling complex problems head-on.

• Embrace lifelong learning: Keep your skillset fresh by taking courses, getting certifications, or exploring online learning platforms. Stay relevant, stay competitive!

• Network like a pro: Build strong connections with professionals in your field and related industries to stay informed about the latest opportunities and trends.

Remember, AI is a powerful technology shaping the future of work, but it doesn't have to be scary. By staying informed, developing adaptable skills, and embracing lifelong learning, you can thrive in the changing job market and shape your own future in the age of AI. Go forth and conquer!

Other Cool AI News!

• Will robots take over Hollywood? Maybe just Madea’s job. 👀 Tyler Perry, Hollywood hero, hits pause on $800M studio expansion due to AI's rapid development, urging the industry and government to address potential job losses and ensure a future where AI and human creativity co-exist.

• AI just dropped the mic in Hollywood! Imagine making a movie with just your words. Lightricks' LTX Studio lets you do just that, turning your story into a whole film. OpenAI's Sora is another game-changer, whipping up short videos based on your ideas in seconds. Sure, some folks are worried about jobs, but these tools could open filmmaking to everyone, not just the Hollywood elite. So maybe it’s time to pick back up that lifelong dream of becoming a filmmaker.

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

Mobile Car Detailing 🚗💰

Hey Car Enthusiasts,

Dust off your dreams of dazzling rides, because Cruisin' Clean is rolling into town – and we're turning lackluster drives into mobile spa days! Forget battling car washes and endless elbow grease – we bring the pampering directly to your driveway.

How to get started?

1. Overview of the Sudsy Business:

Picture this: a fully loaded van stocked with eco-friendly suds and a passionate crew who treat your car like royalty. We're not just washing away dirt, we're crafting a mobile oasis on wheels, leaving your ride feeling (and looking!) brand new.

2. Average Startup Cost:

Hit the road without burning rubber - $10k-$15k gets your mobile oasis rolling. That covers everything you need to hit the road: top-notch cleaning supplies, a mobile setup, and the marketing muscle to let your community know you're open for business.

3. Capital Intensity:

No hefty machinery or fancy gadgets here! Our low-capital model keeps your finances purring. Just restock those magic potions and spread the word about your dazzling services.

4. Interesting Growth Opportunities:

Start small, dream big! Before you're the official shine-bringer for entire corporate fleets, build your momentum close to home. Sign your neighbors' cars, plaster your dazzling deals on local parking lots, and let word of mouth work its magic. Partner with businesses, score fleet contracts, or become the official shine-bringer for employee perks. Plus, signing contracts for regular fleet maintenance can be a turbocharged growth opportunity, ensuring a steady flow of happy customers and gleaming rides. The possibilities are endless, just like the gleam you bring!

5. Impact of AI:

Don't worry, car lovers, AI can't replicate the human touch and genuine passion we bring to every detail. While others might be chasing automation, we're steering clear of those roadblocks and focusing on what truly matters: making your car feel loved (and looking amazing, of course!).

6. Earning Potential:

Forget lemonade stands! Mobile detailing has the potential to turn you into a shining success story, just like Alan Tursunbaev, who started at 22 with just $500 and now earns $75,000 per month. 🤑 While that's the high-end potential, the average mobile detailer makes between $1,500 and $2,500 every two weeks. This can be further boosted by offering premium services like polishes, waxes, and eco-friendly options. Remember, success hinges on scaling up, so aim for partnerships with businesses and fleet maintenance contracts for regular income and happy customers. With the right strategy and hustle, you could be detailing your way to a lucrative future!

TWEET OF THE WEEK

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.