This podcast covers a range of interesting topics including the passing of Charlie Munger, the growth of Chime and its commitment to education, the challenges of deep fake pornography, the transformative power of AI, the rebound of the private aviation industry, tax breaks for private jets, the joy of holiday cheese, the surging demand for Santas, and the business of hiring Santa Claus entertainers.
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Quick takeaways
Ford is reducing capacity and hiring plans at its battery plant in Michigan due to weaker demand for EVs, highlighting the challenges faced by automaker companies in the EV industry.
Despite a decrease in sales and pressure on EV infrastructure companies, Brendan Jones, CEO of Blink Charging, predicts global and US EV sales to increase and emphasizes the need for more charging infrastructure, estimating 30 million chargers required in the US by 2030.
Bloomberg Businessweek explores the rise of deepfake pornography and its impact on victims, revealing the challenges in addressing this issue due to legal gaps and the actions taken by victims to seek justice.
Rhone Capital has sold its stake in Ron, a clothing company, to a group of investors including Blackstone executive David Blitzer, Gabe Pluckin, and retired athletes Tim Tebow and Steve Young, providing Ron with a longer-term perspective for growth.
Deep dives
Ford reduces capacity and hiring plans for EV battery plant
Ford is reducing capacity and hiring plans at its battery plant in Michigan due to weaker demand for EVs. Sales of the Ford F-150 Lightning plug-in pickup fell 46% in Q3. This reduction in capacity reflects challenges faced by automaker companies in the EV industry.
Blink Charging CEO discusses challenges in the EV industry
Brendan Jones, the CEO of Blink Charging, discusses the challenges in the EV industry. Despite a decrease in sales and pressure on EV infrastructure companies, Jones sees EV sales increasing globally and in the US. He also points out the need for more charging infrastructure, with 30 million chargers needed in the US by 2030.
Bloomberg article on the rise of deepfake pornography
Bloomberg Businessweek released an article highlighting the rise of deepfake pornography and its impact on victims. The article tells the story of a group of teenage girls who discovered that their photographs had been manipulated into deepfake porn and explores the challenges in dealing with this issue, including gaps in laws and the actions taken by victims to seek justice.
Rhone Capital sells private equity interest in Ron
Private equity firm Rhone Capital has sold its stake in Ron, a clothing company, to a group of investors including Blackstone executive David Blitzer, former hedge fund manager Gabe Pluckin, and retired athletes Tim Tebow and Steve Young. This transaction provides Ron with a longer-term perspective and allows it to continue growing.
Surging Demand for Santas Outpaces Supply
Demand for Santas is exceeding supply as people seek to hire Santas for events, parties, malls, and more. The demand for Santa entertainers is up over 36% compared to last year, with a record level of demand even higher than pre-pandemic levels. Small and medium-sized businesses are particularly keen to associate themselves with Christmas through the use of Santa. Prices for hiring Santa vary depending on factors such as time, location, and duration, ranging from $200 to $400 per hour during the Christmas season. Santa schools and conventions exist around the country to recruit new Santa entertainers.
Santa Business Doing Well in 2023
The Santa business is experiencing a surge in demand, with the number of events booked up by over 152% compared to last year and even higher than pre-pandemic levels. Small and medium-sized businesses are particularly interested in hiring Santa entertainers this year. The demand for Santa has increased by 36% compared to previous years, resulting in a higher need for Santa entertainers nationwide. The cost of hiring Santa varies depending on factors such as location, time, and duration, ranging from $200 to $400 per hour during the holiday season. Santa schools and conventions are available for those interested in becoming Santa entertainers.
Santa Entertainers in High Demand
Demand for Santa entertainers is surging, with a 36% increase compared to last year and reaching record levels even higher than pre-pandemic figures. This trend reflects the desire of small and medium-sized businesses to associate themselves with the festive season through the use of Santa. The cost of hiring Santa varies based on factors like time, location, and duration, averaging between $200 to $400 per hour during the Christmas season. Santa schools and conventions exist across the country, offering opportunities to recruit and train new Santa entertainers.
Featuring some of our favorite conversations of the week from our daily radio show "Bloomberg Businessweek." Hosted by Carol Massar and Tim Stenovec
Hear the show live at 3PM ET on WBBR 1130 AM New York, Bloomberg 106.1 FM Boston, Bloomberg 960 AM San Francisco, WDCH 99.1 FM in Washington D.C. Metro, Sirius/XM channel 119, on the Bloomberg Business App, Radio.com, the iHeartRadio app and at Bloomberg.com/audio.
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