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LIFEMD INC

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LifeMD Inc is a direct-to-patient telehealth company that provides a smarter, cost-effective, and more convenient way of accessing comprehensive, virtual healthcare. Its telehealth platform seamlessly integrates a clinician-centric electronic medical record (EMR) system, proprietary algorithms for case-load balancing and scheduling, customer relationship management functionality, remote and in-home lab testing, and digital prescription capabilities, patient-provider audio/video interfacing, cloud pharmacy fulfillment, and more. In addition to telehealth offerings, the company sells nutritional supplements and other over-the-counter products. The company has two operating segments: Telehealth and WorkSimpli. The company generates the majority of its revenue from the Telehealth segment.

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Quali sono le azioni sanitarie che potrebbero registrare una forte crescita nel secondo trimestre? Ecco quali stanno attirando attenzione.

Le 3 azioni sanitarie che potrebbero esplodere nel Q2

LifeMD Inc

LifeMD, Inc. - 8.875% Series A Cumulative Perpetual Preferred Stock

OpenAI CEO Sam Altman announced the return of GPT-4o in the wake of a strong backlash from Reddit users over the newly introduced GPT-5.
What Happened: OpenAI decided to resurrect GPT-4o less than a day after its replacement with GPT-5. This move was a direct response to a Reddit forum where users voiced their dissatisfaction with the new bot&#8217;s tone, with some even shedding&nbsp;tears over the disappearance of&nbsp;GPT-4o.
The forced upgrade and the lack of an option to select legacy models were met with criticism, leading to many long-term users cancelling their subscriptions. 
Altman responded to the backlash, promising&nbsp;to bring back GPT-4o for&nbsp;Plus subscribers, a paid subscription plan costing $20 a month.
Also Read: <a href="https://www.benzinga.com/news/politics/25/07/46508730/heres-how-sam-altman-quietly-replaced-elon-musk-as-donald-trumps-go-to-ai-advisor">Here&#8217;s How Sam Altman Quietly Replaced Elon Musk as Donald Trump&#8217;s Go-To AI Advisor</a>
GPT-5&nbsp;was launched on August 7, offering improved writing, coding, math, and science abilities. 
However, users found its &#8220;flat&#8221; tone and perceived lack of creativity off-putting. Altman admitted to underestimating the importance of some GPT-4o traits to users and pledged transparency in future decisions.
Why It Matters: The return of GPT-4o underscores the importance of user feedback in shaping the direction of tech products. 
OpenAI&#8217;s quick response to user dissatisfaction demonstrates a commitment to customer satisfaction and a willingness to adapt. 
The incident also highlights the challenges faced by tech companies in balancing innovation with user expectations and preferences.
Read Next
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Image: Shutterstock/Meir Chaimowitz

As GPT-5 Launches, OpenAI Loyalists Pushed Altman for GPT-4o's Return, Citing Performance and Reliability

Julia Hartz left a rising TV executive career at FX to co-found Eventbrite Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EB#NYSE">EB</a>), launching the ticketing startup from a phone closet in San Francisco.
She, her husband Kevin Hartz, and engineer Renaud Visage pooled $250,000 of their personal savings to bootstrap the venture, Fortune <a href="https://fortune.com/2025/07/30/millionaire-eventbrite-ceo-julia-hartz-ceo-cofounder-personal-finance-quit-tv-career-hollywood-broke/">reported</a>.
<h2 class="wp-block-heading">Leaving TV for Tech</h2>
Before making the leap, Hartz had built an early resume that included internships at "Friends" and MTV's development department, eventually working on series such as "Jackass," "The Shield," and "Rescue Me." She rose to junior executive at FX before walking away.
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While many entrepreneurs choose to build their companies on the side, Hartz committed full-time from day one.&nbsp;
"I've seen entrepreneurs do that, and I think that that's a clever way to gain validation and product market fit, without putting yourself in such a perilous state," Hartz told Fortune. "I did not do that."
<h2 class="wp-block-heading">Riding the Rise of Social Media</h2>
Eventbrite's early growth aligned with a critical moment in tech: the expansion of social media platforms in the mid-2000s. Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) <a href="https://www.eventbrite.com/blog/press/press-releases/ticketing-facebook-powered-by-eventbrite/">selected Eventbrite</a> as one of its first Connect partners, giving the company access to a growing network of users seeking in-person experiences.
This partnership, combined with Eventbrite's <a href="https://www.eventbrite.com/blog/solutions/self-service-platform/">self-service platform</a>, enabled organizers, including creators, performers, and niche communities to quickly set up and promote events with minimal overhead. This accessible model helped Eventbrite scale across a wide variety of event types and locations, according to Fortune.
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<h2 class="wp-block-heading">Recession-Proofing Through Real-World Connection</h2>
Hartz described the 2008 Great Recession as a moment of collapse for corporate America. Yet the demand for meaningful human connection remained strong as many people turned to affordable, local events as a way to stay connected, Fortune reported.
Between 2006 and 2019, Eventbrite raised $373 million in equity funding across 11 funding rounds from investors including Sequoia Capital, Tiger Global Management, and Square, <a href="https://pitchbook.com/news/articles/these-are-the-big-winners-from-the-eventbrite-ipo">according</a> to Pitchbook. The company went public in 2018.
<h2 class="wp-block-heading">A Platform With Global Reach</h2>
By the end of 2024, Eventbrite had expanded to support events in nearly 180 countries. It sold 83 million paid tickets over the year, powered by 4.7 million events, the company <a href="https://investor.eventbrite.com/press-releases/press-releases-details/2025/Eventbrite-Reports-Fourth-Quarter-2024-Financial-Results/">reported</a>. The platform <a href="https://investor.eventbrite.com/press-releases/press-releases-details/2025/Eventbrite-Reports-First-Quarter-2025-Financial-Results/default.aspx">reached</a> 88 million average monthly active users in Q1 2025.
Event types have evolved with their user base, including everything from Bach concerts in Central Park and mixed martial arts showcases to house music cruises and cheese-themed parties hosted by Antoni Porowski of "Queer Eye," according to Fortune. That diversity reflects Eventbrite's original mission: to make it easy for people to gather around their passions—no matter how niche.
See Also: If there was a new fund backed by Jeff Bezos offering a <a href="https://www.benzinga.com/money/arrived-private-credit-fund">7-9% target yield with monthly dividends would you invest in it</a>?
<h2 class="wp-block-heading">The Human Element</h2>
Hartz credited much of her startup journey to a single moment from her days in television: attending a fan event.
"I remember going to this fandom event that was insanely niche, and feeling the energy of the people in the room. It just stuck with me," she told Fortune. "It was this palpable, kinetic energy…When we started Eventbrite, I was thinking about that all along: ‘How do we enable the people who gather others around these niche passion areas and create this magic?'"
That experience, combined with her husband's encouragement and prior success with PayPal Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PYPL#NASDAQ">PYPL</a>), helped her make the leap.
"We made it on less than a quarter of a million dollars," Hartz said. "I'm really, really proud of it."
Read Next: $100k+ in investable assets? <a href="https://www.benzinga.com/money/wiseradvisor-retirement-planning">Match with a fiduciary advisor for free to learn how you can maximize your retirement and save on taxes</a> – no cost, no obligation.
Image: Imagn Images

PYPL

From Hollywood to Silicon Valley: How Eventbrite's CEO Bet $250K On A Phone Closet Startup

Ben Horowitz, cofounder and general partner at Andreessen Horowitz (A16z), once wrote that his toughest business calls demanded grit more than intelligence or knowledge.
What Happened: In a 2011 <a href="https://a16z.com/the-fine-line-between-fear-and-courage/">essay</a>, Horowitz wrote that "the most important decisions tested my courage far more than my intelligence," a mindset he says shapes A16z's screening of founders for "brilliance and courage."
He said, "the right decision is often obvious," yet leaders face intense pressure to do the easier, wrong thing, and that pressure only grows as companies scale.
Horowitz illustrated the tension with a familiar pitch-room scene where cofounders who insist they "both" run the company and plan to do so "forever," force employees to chase double approvals because the leaders won't decide who's in charge. 
The fix, he wrote, is developing courage, ignoring fear, making the hard call and accepting that even a slight preference towards a choice may pit you against smarter, more experienced voices, which will question your resolve.
See Also: <a href="https://www.benzinga.com/news/politics/25/08/46988870/elizabeth-warren-has-tough-questions-for-trumps-fed-board-pick-calls-stephen-miran-chief-architect-of-chaotic-tariff-policy">Elizabeth Warren Has &#8216;Tough Questions&#8217; For Trump&#8217;s Fed Board Pick, Calls Stephen Miran Chief Architect Of &#8216;Chaotic Tariff Policy&#8217;</a>
&#8220;Every time you make the hard, correct decision, you become a bit more courageous and every time you make the easy, wrong decision, you become a bit more cowardly," he wrote, saying choices define a "courageous or cowardly company."
Why It Matters: Many of today's marquee leaders echo the theme. Warren Buffett's playbook champions contrarian nerve. Buffett <a href="https://www.benzinga.com/markets/25/03/44533852/what-would-buffett-do-with-markets-inches-away-from-the-extreme-fear-zone-is-it-finally-time-to-be-greedy">wrote in a 2003 shareholder letter</a>, "Be fearful when others are greedy and greedy when others are fearful," a principle widely cited to explain Berkshire Hathaway&#8217;s discipline through booms and busts.
Jeff Bezos frames courage as taking asymmetrical bets. "Given a 10% chance of a 100 times payoff, you should take that bet every time," he once wrote, arguing that <a href="https://www.benzinga.com/general/24/03/37830026/jeff-bezos-believes-given-a-10-chance-of-a-100xs-payoff-you-should-take-that-bet-every-time-this-min">one big winner can fund many failures</a> and that innovation requires being misunderstood.
Elon Musk links progress to risk tolerance, <a href="https://www.benzinga.com/news/23/03/31352144/6-epic-quotes-from-elon-musk-failure-is-an-option-here">telling audiences</a>, "Failure is an option here. If things are not failing, you are not innovating enough," while urging people to pursue hard problems even when the odds look bad.
Photo Courtesy: PHOTOCREO Michal Bednarek on Shutterstock.com
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Entrepreneurship

Success Stories

Ben Horowitz's Brutal Truth: Easy Choices Are Slowly Turning You Into A 'Coward'

John Bolton has voiced his criticism over the announcement of a meeting between President Trump and Russian President Vladimir Putin, scheduled to take place in Alaska.
What Happened: President Trump&#8217;s announcement of the meeting, which was made on the social media platform Truth Social, has drawn attention and criticism, including from Bolton. He expressed his disapproval during a recent interview <a href="https://edition.cnn.com/2025/08/08/politics/trump-putin-meeting">with </a>CNN. &nbsp;
The meeting between President Trump and President Putin is set to occur on Friday, August 15, 2025. 
&#8220;The highly anticipated meeting between myself, as President of the United States of America, and President Vladimir Putin, of Russia, will take place next Friday, August 15, 2025, in the Great State of Alaska,&#8221; Trump <a href="https://truthsocial.com/@realDonaldTrump/posts/114995403653615328">wrote</a> in the post. 
Bolton, who served as President Trump&#8217;s national security advisor during his first term, likened the upcoming meeting to Trump&#8217;s contentious invitation of&nbsp;the Taliban to Camp David.
Bolton said, &#8220;This is not quite as&nbsp;bad as Trump&nbsp;inviting the Taliban to Camp&nbsp;David to talk about the&nbsp;peace negotiations in Afghanistan, but&nbsp;it certainly reminds one of&nbsp;that.&#8221; 
Also Read: <a href="https://www.benzinga.com/news/global/25/02/43901353/trump-says-he-could-influence-putin-to-free-kidnapped-ukrainian-children-its-pretty-tough-stuff-but-i-believe-i-could-do-that">Trump Says He Could Influence Putin To Free Kidnapped Ukrainian Children: &#8216;It&#8217;s Pretty Tough Stuff, But I Believe I Could Do That&#8217;</a>
He further characterized the meeting as a &#8220;great victory for Putin,&#8221; describing the Russian leader as a &#8220;rogue leader of a pariah&nbsp;state.&#8221;
&#8220;The only better place for Putin than Alaska would be if the summit were being held in Moscow. So, the initial setup, I think, is a great victory for Putin. He's a rogue leader of a pariah state and he's going to be welcomed into the United States,&#8221; he further said. 
Why It Matters: Bolton&#8217;s criticism of the announced meeting underscores the ongoing controversy surrounding President Trump&#8217;s foreign policy decisions. 
The comparison to the contentious invitation of&nbsp;the Taliban to Camp David&nbsp;highlights the potential implications of this meeting. Bolton&#8217;s comments suggest that the meeting could be perceived as a win for Putin, further complicating the already strained U.S.-Russia relations. 
The reaction to this meeting, particularly from those within Trump&#8217;s own administration, will be a key factor to watch in the lead-up to the scheduled date.
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Politics

Ex-Trump Adviser Bolton Says Putin Meeting Brings Back Memories of Taliban Camp David Talks

If you're a parent, grandparent, or even a student, changes to student loans might soon affect your financial plans. On the "<a href="https://omny.fm/shows/suze-ormans-women-and-money/suze-school-how-big-beautiful-bill-affects-your-taxes-and-paying-for-college">Women &amp; Money</a>" podcast, financial expert Suze Orman recently broke down how a major new federal law — the One Big Beautiful Bill Act — will reshape federal student loans work starting in 2026.&nbsp;
Here's what Orman says you need to know and how it could impact families like yours.
<h2 class="wp-block-heading">New Limits on Borrowing for Parents</h2>
One of the biggest changes Orman talks about involves the Parent PLUS loan program. She points out that under the old rules, parents could borrow up to the full cost of their child's college attendance. But starting next July 1, the maximum borrowing will be capped at $20,000 per year and a lifetime total of $65,000 per student.
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That means if you're planning to help pay for an expensive private college that costs $65,000 a year or more, you'll need to rethink your strategy.&nbsp;
And there's more: <a href="https://www.benzinga.com/personal-finance/management/25/07/46279015/dave-ramsey-encourages-parents-to-get-honest-about-what-they-can-afford-for-their-childrens-college-education-no-student-loans">Parent PLUS loans</a> taken after that date will no longer qualify for income-driven repayment plans. "I hate this one," Orman said.&nbsp;
Instead, repayment will follow a standard plan with fixed payments over 10 to 25 years, regardless of income.&nbsp;
Orman advises parents to be cautious before taking out these loans. "A standard repayment plan is a whole lot more, so parents, you better think twice before you just take out a loan," she said. Without income-driven options, monthly payments could be significantly higher.
<h2 class="wp-block-heading">Interest Will Accumulate Differently for Students</h2>
Orman also broke down the impacts of the new law for students borrowing undergrad loans. Previously, subsidized loans did not accrue interest while students were in school. Now, all undergraduate federal loans will be unsubsidized starting July 1.
Trending: Accredited Investors: Grab Pre-IPO Shares of the AI Company Powering Hasbro, Sephora &amp; MGM—<a href="https://www.benzinga.com/money/rad-intel">Secure $0.63 Shares Before 8/14&nbsp;</a>
What does this mean? Interest will accumulate during school and, if unpaid, will be added to the loan balance. This will increase the total amount owed and lead to higher payments once repayment begins.
"You might want to pay the interest on that loan yearly starting the very first year, because otherwise it&#8217;s going to compound," Orman advised.&nbsp;
<h2 class="wp-block-heading">Repayment Plans Get a Makeover</h2>
The bill also changes repayment plans for all federal <a href="https://www.benzinga.com/personal-finance/management/25/06/45917720/dont-wait-these-3-steps-could-save-you-a-ton-on-your-student-loans">student loans</a> taken after July 1. There will be two options:
<ol class="wp-block-list">
<li>A standard repayment plan with fixed payments over 10 to 25 years.</li>
<li>A new income-driven repayment plan called the Repayment Assistance Plan, or RAP, which ties payments to 1% to 10% of discretionary income.</li>
</ol>
"But there will be no zero payment options," Orman clarified, explaining that although some current income-driven repayment plans allow borrowers to make zero payments based on financial need, this option will no longer be available starting next year.
Additionally, loan forgiveness under RAP will only happen after 30 years of payments, five years longer than previous plans. Plus, economic hardship deferments will no longer be available starting July 1, 2027, though limited forbearance may still be possible for short periods.
"Why do they want to be able to allow you to do that?" Orman asked. "Because student loans, still in most cases, are not dischargeable in bankruptcy, they can come after you. They can garnish your wages. They can even go after your Social Security check later on in life, and it&#8217;s compounding and compounding, so you better be careful."
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<h2 class="wp-block-heading">Graduate Students Face New Borrowing Caps</h2>
Graduate borrowing will also be limited. The Graduate PLUS loan program is ending, replaced by unsubsidized loans with annual limits of $20,500 for master's and PhD students and $50,000 for professional degrees, plus lifetime caps.
These tighter limits could mean grad students must plan more carefully or look for alternative funding sources.
<h2 class="wp-block-heading">What This Means for Families</h2>
Orman's advice? Families need to start planning now. Parents should avoid risking their retirement savings by borrowing too much for college. Children should borrow federal loans first, since student loan interest rates are generally lower than Parent PLUS loans.
More than ever, families should explore affordable schools, scholarships, and merit aid. The new rules add complexity to college financing, making it important for borrowers to carefully evaluate their options.
If you're thinking about college costs in your family, sit down with your financial advisor and start conversations early with your children. The <a href="https://www.benzinga.com/personal-finance/management/25/08/46826382/whats-the-same-whats-different-suze-orman-tackles-how-the-one-big-beautiful-bill-act-affects-your-social-security">One Big Beautiful Bill Act</a> is changing the game, and being informed is your best defense.
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Image: Shutterstock

Personal Finance

Student Loans Are About To Change Big Time: Suze Orman Explains The Impact Of The 'Big Beautiful Bill' For Borrowers

Fraud and dispute management provider Quavo <a href="https://www.quavo.com/news/quavo-fraud-disputes-secures-300-million-growth-investment-from-spectrum-equity/">has secured</a> $300 million from private investment firm Spectrum Equity. At the same time, prior investor FINTOP Capital is selling its stake. Significant shareholders after the departure will include Pegasystems and <a href="https://www.fintechfutures.com/venture-capital-funding/quavo-raises-300m-from-spectrum-equity">four executives</a> who founded the company.&nbsp;
The Wilmington, Delaware fintech sells software-as-a-service products that "automate and manage fraud and dispute management for financial institutions." According to the company, it processes over 12.5 million customer disputes annually for a broad spectrum of financial institutions, including global issuers, credit unions and regional banks, and says its revenue has grown 60% annually since 2022 and 100% in the last year.
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The capital infusion <a href="https://tracxn.com/d/companies/quavo/__cXVEFGif-X3ZF2g3y0FnExE61Fyaw8YyymaXqBL0Gig/funding-and-investors">follows</a> an initial seed round in 2020 and three Series A rounds between 2021 and 2023, totaling $11 million. Actual cash raised in the seed round was not undisclosed.&nbsp;
"Quavo is uniquely positioned to drive automation benefits and better outcomes in this space," said Spectrum Equity Managing Director Adam Margolin. "Quavo's highly configurable platform, scaled transaction data powering its decisioning engine, and mission-driven approach to solving costly and time-consuming problems for its clients set the company apart."
Quavo's QFD automates the investigation of credit card chargebacks and other conflicts through the dispute lifecycle,&nbsp; from intake and investigation to chargeback and client communication workflows. <a href="https://www.benzinga.com/quote/KEY">KeyCorp</a> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KEY#NYSE">KEY</a>) is <a href="https://www.fintechfutures.com/baas/ohio-s-keybank-taps-quavo-for-dispute-management-platform">listed</a> as one of Quavo's more than 50 direct customers, along with <a href="https://www.benzinga.com/quote/ASB">Associated Banc-Corp</a> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ASB#NYSE">ASB</a>) and <a href="https://www.benzinga.com/quote/FHB">First Hawaiian Bank</a> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FHB#NYSE">FHB</a>).
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The company says its software works across all payment methods and dispute types, offering "easy customization through a decisioning engine and library of third-party API" add-ons. The company also markets a <a href="https://www.quavo.com/dre/">fully managed service</a> called Dispute Resolution Experts, staffed by a team of fraud specialists. This program allows greater flexibility for clients, at a higher cost, while also applying QFD technology for fraud and dispute resolution.
"We are thrilled to be partnering with Spectrum Equity on the next chapter of growth," said Quavo cofounder and CEO Joseph McLean, who started the company in 2016. He added the investment will be used to "accelerate our AI-led product development initiatives and expand our go-to-market and client success teams to meet growing market demand and drive exceptional client outcomes."&nbsp;
Quavo says it is leveraging advanced AI to tackle rising fraud threats in 2025 and <a href="https://www.quavo.com/quarterly-newsletter/q2-2025/">breaks down</a> this initiative into four related projects:&nbsp;
<ul class="wp-block-list">
<li>Using investigative AI to detect differences between first-part fraud and true fraud.</li>
<li>Streamlining complex and repetitive processes using large language models.</li>
<li>Automating tasks like accountholder correspondence and the evidence that merchants need to provide when disputing a chargeback.</li>
<li>Enhancing call center intake that's powered by generative AI.</li>
</ul>
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Quavo says its tech automates approximately 80% of the tasks and interactions typically undertaken by clients in a customer dispute while recapturing 85% of "potentially lost disputed funds." It says clients benefit from improved outcomes, posting an average 37% reduction in write-offs, while reducing days to issue consumer credit dropping to less than one from 11.&nbsp;&nbsp;&nbsp;
"Our vision to restore financial trust and simplify fraud and disputes is unwavering, concludes McLean, "and this partnership allows us to achieve these goals faster and at even greater scale."&nbsp;
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Image: Shutterstock

Quavo's AI-Powered Platform Grabs $300M To Combat Mounting Financial Fraud

Angela Kinsey rose to fame in 2005 as uptight accountant Angela Martin on NBC's "The Office." Despite the show's growing popularity, she continued working at the box office at Los Angeles improv comedy theater Improv Olympic West until the start of season three.&nbsp;
Even after the December 2005 episode "Christmas Party" helped make "The Office" the top iTunes download, Kinsey remained cautious. "Don't take anything for granted and save," she said in a recent CNBC <a href="https://www.cnbc.com/2025/07/18/the-office-star-angela-kinsey-kept-her-second-job-until-season-three.html#:~:text=Angela%20Kinsey%20may%20have%20acted%20in%20one%20of%20the%20most%20popular%20sitcoms&amp;text=Her%20advice:%20%22Don't%20take%20anything%20for%20granted%20and%20save.%22%20DON'T%20MISS">interview</a> — advice that continues to shape her financial choices today.
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<li>Accredited Investors: Grab Pre-IPO Shares of the AI Company Powering Hasbro, Sephora &amp; MGM—<a href="https://www.benzinga.com/money/rad-intel">Secure $0.63 Shares Before 8/14 </a></li>
</ul>
<h2 class="wp-block-heading">Sitcom Lift-Off Side Hustle Stays</h2>
"I just knew that even though I was on a hit show, that I would need to be already thinking ahead and strategizing about what's my next job," Kinsey told CNBC. By late 2005, she was still selling tickets at the iO West box office while filming season two of "The Office." She didn't quit the side job until early in season three, when she "finally felt comfortable enough" to do so.
Meanwhile, Brian Baumgartner, who played Kevin on the "The Office," recalled on the "And That's What You REALLY Missed" <a href="https://www.iheart.com/podcast/1119-and-thats-what-you-really-102241183/episode/glee-crossover-with-brian-baumgartner-189599605/">podcast</a> that after those first six episodes, producers "asked us to empty our trailers and go home." Ratings picked up following the "Christmas Party" episode in 2005, and <a href="https://people.com/the-office-stars-cleaned-out-trailers-before-show-became-popular-8670598">in 2006</a>, NBC had greenlit the remaining 16 episodes—completing the full 22‑episode season and paving the way for season three.
Trending: ‘Scrolling To UBI' — Deloitte's #1 fastest-growing software company allows users to earn money on their phones. You can <a href="https://www.benzinga.com/money/mode-mobile-2">invest today for just $0.30/share.</a>
<h2 class="wp-block-heading">Smart Saving, Strategic Spending</h2>
Uncertainty on set cemented Kinsey's focus on saving. After NBC aired "Booze Cruise" and promoted her to series regular, she leaned into practicality. Laughing on Baumgartner's "The Office Deep Dive" podcast in 2021, she <a href="https://www.iheart.com/podcast/1119-the-office-deep-dive-93075294/episode/angela-kinsey-pt-1-93075314/">recalled</a> a moment when, while driving home, her aging Chevy Blazer's right tire came off and rolled through an intersection — prompting her to replace it with a more reliable Honda.
Kinsey said her paycheck "wasn't as grandiose as people might think," but smart budgeting helped her save.
<h2 class="wp-block-heading">Castmates Echo The Caution</h2>
Actress Kate Flannery shared on a 2018 episode of the &#8220;<a href="https://broadwaypodcastnetwork.com/podcasts/living-the-dream-with-rory-o-malley/kate-flannery-episode-55/55#About">Living the Dream with Rory O'Malley</a>" podcast that she kept her restaurant job in Los Angeles while filming season one of "The Office." "I kept my restaurant job…just in case," she recalled, noting some nights' tips outpaced her acting checks.&nbsp;
See Also: This Jeff Bezos-backed startup will allow you to <a href="https://www.benzinga.com/money/bezos-landlord-100-dollars">become a landlord in just 10 minutes, with minimum investments as low as $100</a>.
Flannery's fallback echoed Kinsey's advice in the CNBC interview to "save early, spend modestly and always plan for the next job," a prudent approach as streaming volatility, labor strikes, and shifting production calendars continue to unsettle acting careers.
<h2 class="wp-block-heading">Deck Boards Over Mansions</h2>
"I tried to keep a level head now that I had consistent income, knowing that everything has a finite end date," Kinsey told CNBC.
People magazine<a href="https://people.com/angela-kinsey-office-group-chat-secrets-exclusive-11767614"> reported</a> that Kinsey reunited with Creed Bratton, Ellie Kemper, Craig Robinson and Oscar Núñez for AT&amp;T Business's "Wake Up With CrAIg" commercial and confirmed the existence of the cast's lively "Office Peeps" group chat. Kinsey told People her phone wallpaper hasn't changed since her daughter's toddler days—a lighthearted nod to her long-standing frugality.
Read Next: $100k+ in investable assets? <a href="https://www.benzinga.com/money/wiseradvisor-retirement-planning">Match with a fiduciary advisor for free to learn how you can maximize your retirement and save on taxes</a> – no cost, no obligation.
Image: Shutterstock

Angela Kinsey Says 'The Office' Paychecks Weren't Glamorous—Why She Kept A Second Job And Drove A 10-Year-Old Chevy

Barbara Corcoran, a real estate mogul and star of the TV show &#8220;Shark Tank,&#8221; shared how President&nbsp;Donald Trump, then a real estate baron,&nbsp;used his salesmanship to sell his New York Plaza Hotel.
<h2 class="wp-block-heading">Trump Pitched Land, Not Hotel, And Sealed The Deal</h2>
Corcoran, speaking at the Business Insider&#8217;s IGNITION Conference in New York City in 2018, recounted her experiences with Trump as a real estate tycoon.
She recalled a time when Trump, on the brink of bankruptcy, managed to sell a large plot of land along with&nbsp;the Plaza Hotel in New&nbsp;York City, which was not initially part of the deal. This sale, she said, helped Trump recover from his financial troubles.
She spoke about how Trump walked into a high-stakes deal to sell the Plaza Hotel to one of Hong Kong's wealthiest families. Corcoran, who was a broker on the deal, said that they were desperate to close the deal. All the buyers wanted was the hotel. But Trump barely mentioned it.
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Instead, he sold them on the Hudson River land. Corcoran thought Trump wouldn&#8217;t be able to close the deal, but he did. Trump not only successfully sold the Plaza hotel, but the elite Asian buyers bought the adjoining land parcels too later making the Trump Towers on it.
&#8220;I&#8217;ve&nbsp;done a lot of work&nbsp;with Donald and I can&nbsp;tell you he is the&nbsp;best salesman I&#8217;ve ever met in my life,&#8221; said Corcoran.
SEE ALSO:&nbsp;<a href="https://benzinga.com/news/macro-notification/25/08/46951374/fed-official-lisa-cook-flags-concerning-jobs-report-calls-it-typical-of-turning-points-in" target="_blank" rel="noreferrer noopener">Fed Official Lisa Cook Flags &#8216;Concerning&#8217; Jobs Report, Calls It &#8216;Typical Of Turning Points&#8217; In US Economy</a>
<h2 class="wp-block-heading">Trump Family Wealth Began With FHA Loan In 1949</h2>
The Trump family&#8217;s wealth originated with&nbsp;<a href="https://www.benzinga.com/real-estate/24/06/39552589/donald-trump-made-billions-off-real-estate-but-his-father-got-him-started-by-building-a-billion-doll">Fred Trump</a>, Donald Trump&#8217;s father, who built a billion-dollar empire from nothing. Fred Trump capitalized on opportunities during President Franklin D. Roosevelt&#8217;s New Deal era, securing a $26 million loan from the Federal Housing Administration (FHA) in 1949 to build residential complexes in Brooklyn, New York.
Despite criticisms of the Trump family allegedly profiteering from the presidency,&nbsp;<a href="https://www.benzinga.com/news/politics/25/06/46135691/eric-trump-says-family-never-gained-from-presidency-took-losses-instead-defends-crypto-real-estate-ventures-had-my-father-not-run-in-the-first-place">Eric Trump</a>, the second son of Donald Trump, defended the family&#8217;s business practices. He highlighted the family&#8217;s growing focus on cryptocurrency, describing it as a &#8220;perfect hedge&#8221; for their real estate portfolio.
<h2 class="wp-block-heading">Trump Read The Room—And The Voters</h2>
Corcoran believes that it was Trump&#8217;s keen awareness as a salesman that allowed him to win over the American people and ultimately secure the presidency. She described Trump as a &#8220;genius at picking out the&nbsp;vulnerability of someone&#8217;s personality&#8221; and using it to his advantage.
&#8220;He&nbsp;put his finger on what&nbsp;the weakness was, the vulnerability&nbsp;of people and he knows&nbsp;how to touch it just&nbsp;so. And people go along&nbsp;for the ride,&#8221; Corcoran said.
READ MORE:
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<li>&nbsp;<a href="https://benzinga.com/markets/macro-economic-events/25/08/46959936/trumps-tariff-wins-may-be-superficial-but-analysts-expect-his-trade-policies-to-out" target="_blank" rel="noreferrer noopener">Trump&#8217;s Tariff Wins May Be Superficial, But Analysts Expect His Trade Policies To Outlive His Term: &#8216;Even If The Next US President&#8230;&#8217;</a></li>
</ul>
Image via Shutterstock
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Shark Tank Star Recalls How A Nearly Bankrupt Trump Sold NYC's Plaza Hotel Without Even Pitching It — 'Best Salesman I've Ever Met'

The <a href="https://www.benzinga.com/topic/telecommunications">telecom industry</a> is back in the limelight for all good reasons. While the S&amp;P Telecom Select Industry Index has recorded a 40%+ rise over the last one year, the industry has outperformed the overall S&amp;P 500, which increased by about 20% over the same time frame. Powering this growth? Solid profits from legacy behemoths such as AT&amp;T Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/T#NYSE">T</a>) and Verizon Communications Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VZ#NYSE">VZ</a>), an AI-driven growth story, and rumors of interest rate reductions that might reduce capital expenses companywide.
AT&amp;T is giving the telecom industry a second wind. <a href="https://www.benzinga.com/quote/t">Check its prices live.</a>
<h2 class="wp-block-heading">ETFs That Are Dialed In</h2>
A <a href="https://www.benzinga.com/etfs">number of ETFs</a> are well-positioned to capture the persisting strength in the telecom sector, particularly those with high weights in AT&amp;T and Verizon.
iShares U.S. Telecommunications ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/IYZ#BATS">IYZ</a>)
IYZ has the most concentrated play with a 14% holding in AT&amp;T and 13% in Verizon. The fund has gained almost 3% over the last month (as of Friday) and is becoming a favorite among investors who seek a clean telecom signal.
SPDR S&amp;P Telecom ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XTL#NYSE">XTL</a>)
XTL, though more evenly weighted, still owns 3.6% of AT&amp;T and 3.56% of Verizon, and is the strongest recent performer, up 5.6% over the last month.
Fidelity MSCI Communication Services Index ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FCOM#NYSE">FCOM</a>)
FCOM owns about 4% each of AT&amp;T and Verizon. It&#8217;s up 2.8% over the last month, following wider sector enthusiasm.
Vanguard Communication Services ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VOX#NYSE">VOX</a>)
VOX shares comparable exposure—4.3% in AT&amp;T and 4% in Verizon—and gained 2.9% in the past month.
These ETFs not only reflect the comeback of telecom, but offer diversification into proximate plays such as streaming, gaming, and digital advertising—sectors increasingly intertwined via infrastructure and bandwidth.
<h2 class="wp-block-heading">Q2 Earnings: The Big Callers Deliver</h2>
Verizon rang up a<a href="https://www.benzinga.com/analyst-stock-ratings/reiteration/25/07/46554275/verizon-beats-expectations-boosts-outlook-heres-why-analysts-still-see-more-room-to-grow"> respectable second-quarter report </a>at the end of last month, as both revenue and profits exceeded analyst estimates. 
The firm referenced wireless service revenues, customer gains, and fixed wireless access as primary drivers of the business. Verizon is calling for wireless service revenue growth of 2%-2.8% in 2025.
AT&amp;T also <a href="https://www.benzinga.com/markets/earnings/25/07/46594742/t-mobile-posts-greatest-q2-for-growth-ever-with-record-customer-gains-eyes-1-5-billion-tax-benefit-from-trumps-one-big-beautiful-bill">ushered in a favorable quarter</a>, posting adjusted earnings of 54 cents per share, compared to 51 cents last year. Revenue increased by 3.5% to $30.85 billion.
Also Read:<a href="https://www.benzinga.com/news/politics/25/07/46208215/att-claps-back-at-trump-not-our-networks-fault-its-your-platform"> AT&amp;T Claps Back At Trump: &#8216;Not Our Network&#8217;s Fault — It&#8217;s Your Platform&#8217;</a>
<h2 class="wp-block-heading">Rate Cuts + AI = Telecom&#8217;s New Signal Boost</h2>
Apart from robust fundamentals, the macro climate is becoming more favorable. President Trump&#8217;s repeated calls for interest rate reductions have the potential to lighten the load of costly capital spending, blessings for telcos pouring huge sums into next-generation infrastructure. In addition, optimism over AI has bestow a new light on the industry, with machine learning set to contribute more to network optimization, customer support, and even hardware deployment.
Collectively, these tailwinds are making telecom ETFs stand out.
Telecom is no longer a value trap. With AI winds at its back, positive earnings, and a potential rate cut on top, AT&amp;T and Verizon are redefining what a &#8220;defensive&#8221; industry can do. For those investors who want to buy the upside without responding to every earnings call, telecom ETFs are a signal worth tuning to.
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<li><a href="https://www.benzinga.com/etfs/sector-etfs/25/08/47004610/gold-bars-tariff-shocks-etf-jitters-are-your-bullion-bets-at-risk">Gold Bars, Tariff Shocks &amp; ETF Jitters: Are Your Bullion Bets At Risk?</a></li>
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Sector ETFs

ETFs

FCOM

iShares Dow Jones US Telecommunications Sector Index Fund

AT&T, Verizon Dial Up Strong Q2 Results— ETFs Picking Up The Signal

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.
Wall Street treaded water this week as the Federal Reserve maintained rates at 4.25-4.50% despite mounting pressure. Disappointing July jobs data — just 73,000 new positions, coupled with downward revisions totaling 258,000 for May and June — further unsettled markets. Inflation persists above the Fed's 2% target, tempering expectations for immediate easing.
President Donald Trump intensified his criticisms of Federal Reserve Chair Jerome Powell and moved to consolidate control over economic institutions, nominating new leadership for the Fed and Bureau of Labor Statistics. This coincided with a surge in speculative optimism, with JPMorgan now forecasting four rate cuts starting in September.
Investor sentiment remained volatile. Stocks dipped as trust in economic data wavered following the BLS firing, while Treasury yields fell and gold gained ground. Markets now eye September cautiously, awaiting more clarity on labor and inflation trends amid growing questions over Fed independence.
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/analyst-stock-ratings/analyst-color/25/08/46911493/amd-stock-has-a-lot-to-be-encouraged-and-excited-about-analysts-are-cautious-but-bullish">"AMD stock has a lot ‘to be encouraged and excited about': analysts are cautious but bullish"</a>, by Chris Katje, highlights that while analysts — including Goldman Sachs, Wedbush, and Benchmark — welcome AMD's strong Q2 performance and optimistic guidance, they remain cautious due to lofty valuation and China-related risks, keeping targets modest despite enthusiasm for AI-GPU momentum.
<a href="https://www.benzinga.com/markets/large-cap/25/08/46971119/apple-us-investment-tariff-exemption-stock-rally">"Apple's smart move may save iPhone sales — and the stock could soar"</a>, by Piero Cingari, reports that Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) added a $100 billion U.S. manufacturing commitment—bringing its total to $600 billion over four years—which earned the company a key exemption from President Trump's threatened 100% semiconductor tariffs and sparked an 8% rally in its stock.
<a href="https://www.benzinga.com/markets/earnings/25/08/46931112/sunrun-stock-soars-after-q2-earnings-report-heres-why">"Sunrun stock soars after Q2 earnings report — here's why"</a>, by Erica Kollmann, reports that Sunrun Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RUN#NASDAQ">RUN</a>) earned a surprise profit in Q2 with $1.07 EPS (beating an expected -$0.18 loss) and revenue of $569.33 million, topping forecasts; strong subscriber growth, record solar and battery installations, and a 70% storage attachment rate drove a rally of over 30%, buoyed further by a 316% year-over-year surge in contracted net value creation and a fifth straight quarter of positive cash generation.
For additional bullish calls of the past week, check out the following:
<a href="https://www.benzinga.com/markets/earnings/25/08/46927269/draftkings-q2-earnings-soar-record-revenue-net-income-plus-a-prediction-market-tease">DraftKings Q2 Earnings Soar — Record Revenue &amp; Net Income, Plus A Prediction Market Tease?</a>
<a href="https://www.benzinga.com/analyst-stock-ratings/analyst-color/25/08/46963503/eli-lillys-rare-weight-loss-data-miss-could-benefit-competitors">Eli Lilly's Rare Weight Loss Data Miss Could Benefit Competitors</a>
<a href="https://www.benzinga.com/markets/earnings/25/08/46928903/virgin-galactic-stock-takes-off-after-q2-earnings-company-continues-to-target-commercial-service-in-2026">Virgin Galactic Stock Takes Off After Q2 Earnings, Company Continues To Target Commercial Service In 2026</a>

The Bears
<a href="https://www.benzinga.com/markets/economic-data/25/08/46974170/eli-lilly-weight-loss-pill-market-crash-wall-street-thursday-stocks-today">"Eli Lilly crashes on worst day in 25 years: What's moving markets Thursday?"</a>, by Piero Cingari, reports that Eli Lilly &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LLY#NYSE">LLY</a>) plunged 14%, erasing over $100 billion in market value, after its experimental oral weight-loss pill, orforglipron, delivered a 12.4% average body-weight reduction — missing the expected 13-15% and trailing rivals like Wegovy.
<a href="https://www.benzinga.com/markets/earnings/25/08/46872363/super-micro-computer-q4-earnings-highlights-shares-fall-on-double-miss-lower-guidance">"Super Micro Computer Q4 earnings highlights: shares fall on double miss, lower guidance"</a>, by Chris Katje, reports that Super Micro Computer Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>) missed Street expectations with Q4 net sales of $5.76 billion (versus $5.88 billion expected) and EPS of $0.41 (versus $0.44 expected), while trimming its fiscal 2026 sales target to at least $33 billion — down from a prior $40 billion outlook — which triggered a sharp decline in the stock.
<a href="https://www.benzinga.com/markets/earnings/25/08/46928415/joby-stock-falls-after-q2-earnings-report-heres-why">"Joby stock falls after Q2 earnings report — here's why"</a>, by Erica Kollmann, reports that Joby Aviation Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JOBY#NYSE">JOBY</a>) missed expectations in Q2 — posting a $0.41 per share loss (versus a $0.19 forecast) and just $15,000 in revenue (well below the $43,000 estimate) — triggering investor concern despite ending the quarter with $991 million in cash and short-term investments.
For more bearish takes, be sure to see these posts:
<a href="https://www.benzinga.com/trading-ideas/movers/25/08/46899210/amd-stock-is-sliding-wednesday-whats-going-on">AMD Stock Is Sliding Wednesday: What's Going On?</a>
<a href="https://www.benzinga.com/markets/earnings/25/08/46842176/navitas-semiconductor-stock-sinks-after-q3-guidance-disappoints">Navitas Semiconductor Stock Sinks After Q3 Guidance Disappoints</a>
<a href="https://www.benzinga.com/markets/earnings/25/08/46984990/nuscale-power-stock-slides-after-q2-earnings-report-heres-why">NuScale Power Stock Slides After Q2 Earnings Report: 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.

AAPL

DKNG

JOBY

NVTS

SMCI

SPCE

Benzinga Bulls And Bears: AMD, Apple, Eli Lilly — And Wall Street Treads Water

The U.S. Air Force is purchasing two Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) Cybertrucks specifically for missile target practice at White Sands Missile Range in New Mexico.
<h2 class="wp-block-heading">Military Seeks Unconventional Testing Approach</h2>
Unlike typical military vehicle testing, this brand-specific procurement reflects anticipated battlefield realities, according <a href="https://www.twz.com/land/air-force-wants-tesla-cybertrucks-to-launch-missiles-at">to</a> defense industry publication The War Zone. 
&#8220;In the operating theater, it is likely the type of vehicles used by the enemy may transition to Tesla Cybertrucks, as they have been found not to receive the normal extent of damage expected upon major impact,&#8221; the Air Force stated in procurement documents.
<h2 class="wp-block-heading">Cybertruck&#8217;s Declining Market Performance</h2>
Tesla&#8217;s Cybertruck faces mounting sales challenges despite initial fanfare. The company sold just 4,306 units in second quarter of 2025, marking a 51% quarterly decline and trailing Ford Motor Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>) F-150 Lightning&#8216;s 5,842 units and General Motors Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>) Hummer EV&#8216;s 4,508 units.
Current annual sales run at approximately 20,000 units—just 8% of CEO Elon Musk&#8216;s original 250,000 <a href="https://www.benzinga.com/news/topics/25/07/46252465/cybertruck-dreams-shatter-as-musks-250k-goal-unravels">annual production target</a>.
See Also: <a href="https://www.benzinga.com/markets/equities/25/08/47019048/amazons-rising-ad-power-pressures-trade-desk-as-shares-plunge-over-38-on-growth-concerns">Amazon&#8217;s Rising Ad Power Pressures Trade Desk As Shares Plunge Over 38% On Growth Concerns</a>
<h2 class="wp-block-heading">Inventory Concerns Mount</h2>
Tesla maintains nearly $200 million worth of unsold Cybertrucks across U.S. lots, according to Tesla-Info data. The vehicle launched at $60,990, significantly above the <a href="https://www.benzinga.com/news/25/04/44670296/tesla-has-over-200-million-worth-of-cybertrucks-in-inventory-and-thats-raising-questions-about-demand-again">originally promised $39,900 price point</a>.
Eight recalls in 14 months, including issues with accelerator pedals and detaching trim pieces, have contributed to customer skepticism.
<h2 class="wp-block-heading">Military Purchase Details</h2>
The Air Force requires non-functional vehicles with intact bodies, glass, and mirrors for realistic combat simulation. Officials plan to purchase 31 additional vehicles of various types for similar testing purposes, according to the report.
Read Next: 
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<li><a href="https://www.benzinga.com/markets/equities/25/08/47018924/tesla-scores-texas-robotaxi-permit-pitting-elon-musks-fleet-against-uber-lyft-in-autonomous-ride-hailing-race">Tesla Scores Texas Robotaxi Permit, Pitting Elon Musk&#8217;s Fleet Against Uber, Lyft In Autonomous Ride-Hailing Race</a></li>
</ul>
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Image Via Shutterstock

TSLA

Tesla Cybertrucks Picked By US Air Force As Missile Targets To Simulate Real-World Combat Threats

President Donald Trump has reportedly removed Billy Long as Internal Revenue Service commissioner just two months after his Senate confirmation. Treasury Secretary Scott Bessent will serve as acting IRS commissioner while the administration searches for a permanent replacement.
What Happened: Long, a former Republican congressman, is expected to receive an ambassadorial nomination to Iceland, sources <a href="https://edition.cnn.com/2025/08/08/politics/billy-long-ousted-irs-commissioner">told</a> CNN. &#8220;I&#8217;m excited to take on my new role as the ambassador to Iceland,&#8221; Long posted on X, without addressing his IRS departure.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">"It is a honor to serve my friend President Trump and I am excited to take on my new role as the ambassador to Iceland. I am thrilled to answer his call to service and deeply committed to advancing his bold agenda. Exciting times ahead!" &#8211; Billy Long
&mdash; Billy Long (@auctnr1) <a href="https://twitter.com/auctnr1/status/1953917753854759307?ref_src=twsrc%5Etfw">August 8, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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The leadership change marks unprecedented turmoil for the tax agency. Seven different officials have led the IRS since Trump&#8217;s 2024 election victory, representing the highest commissioner-level turnover in agency history. The rapid succession began when former President Joe Biden&#8216;s appointee, Danny Werfel, resigned despite having three years remaining on his statutory five-year term.
Acting commissioner Doug O&#8217;Donnell retired in February after policy clashes with Trump appointees. Melanie Krause resigned in April following pressure to share taxpayer data with immigration agencies. Gary Shapley, briefly appointed as acting commissioner, was ousted within days after Bessent opposed his selection.
See Also: <a href="https://www.benzinga.com/markets/macro-economic-events/25/08/47018610/lockheed-boeing-general-dynamics-deals-reportedly-delayed-as-india-pauses-us-defense-talks-over-trump-tariffs">Lockheed, Boeing, General Dynamics Deals Reportedly Delayed As India Pauses US Defense Talks Over Trump Tariffs</a>
Why It Matters: Long&#8217;s removal comes amid broader IRS budget pressures. A House Appropriations subcommittee approved legislation cutting IRS funding <a href="https://www.benzinga.com/news/politics/25/07/46578895/irs-budget-axed-2-8-billion-cut-sparks-partisan-clash">by $2.8 billion to $9.5 billion for fiscal 2026</a>, representing a 20% reduction. The deepest cuts target enforcement activities, dropping from $5.4 billion to $3 billion.
The agency has lost 25% of its workforce under Trump through government cuts and buyouts, according to inspector general reports. Recent controversies include Department of Homeland Security access to <a href="https://www.benzinga.com/news/politics/25/07/46564464/adam-schiff-says-your-irs-data-may-have-been-breached-and-not-by-a-hacker-but-donald-trump-consider-this-your-warning">taxpayer records for immigration enforcement</a>, drawing privacy concerns from lawmakers including Sen. Adam Schiff (D-CA).
Trump also moved to eliminate the IRS Direct File program, which allowed free online tax filing without private companies. The program <a href="https://www.benzinga.com/personal-finance/crowdsourcing/25/06/46160616/congressman-says-nobody-asked-for-the-irs-to-be-americans-tax-preparer-applauds-efforts-to-shut-down-the-irs-direct-file-program">served 32 million eligible users across 25 states</a>, with 90% of users rating their experience as excellent or above average.
Read Next: 
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<li><a href="https://benzinga.com/markets/macro-economic-events/25/08/47018610/lockheed-boeing-general-dynamics-deals-reportedly-delayed-as-india-pauses-us-defens">Lockheed, Boeing, General Dynamics Deals Reportedly Delayed As India Pauses US Defense Talks Over Trump Tariffs</a></li>
</ul>
Image Via Shutterstock
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Events

Trump Removes IRS Commissioner Billy Long After 2 Months, Appoints Treasury Secretary Scott Bessent As Acting Chief Amid Agency Leadership Crisis

Elon Musk&#8216;s fortune has taken a massive hit in 2025, losing over $60 billion, with his net worth shrinking amid Tesla Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) struggles, while Bill Gates, the second billionaire to see a similar decline, has committed to <a href="https://www.benzinga.com/news/25/02/43524417/bill-gates-says-he-donated-100-billion-of-his-wealth-for-charitable-causes-but-he-didnt-order-less-hamburgers-or-less-movies">giving away his entire fortune</a>.
<h2 class="wp-block-heading">Musk's Wealth Decline Amid Tesla Struggles</h2>
In 2025, Musk&#8217;s net worth plunged by $61.2 billion, according to Bloomberg's Billionaire <a href="https://www.bloomberg.com/billionaires/">Index</a>.
It dropped from $432 billion at the end of 2024 to $371 billion now, marking one of the most significant losses among the world&#8217;s wealthiest individuals, according <a href="https://fortune.com/2025/08/05/elon-musk-net-worth-tesla-stock-bill-gates-philanthropy/">to</a> Fortune.
Much of Musk's fortune is tied to Tesla, whose stock has fallen 13.08% year-to-date, <a href="https://www.benzinga.com/markets/tech/25/08/46851874/elon-musk-led-teslas-woes-deepen-as-uk-sales-plunge-60-in-july-rival-byd-surges-over-300">reflecting declining sales</a> in key markets like Europe and China.
Despite offering discounts to boost sales, Tesla posted <a href="https://www.benzinga.com/markets/earnings/25/07/46587882/tesla-q2-earnings-highlights-revenue-and-earnings-fall-short-new-models-still-set-for-2025-2026">second-quarter revenue</a> of $22.5 billion, marking a 12% decline from the same period last year and falling short of the Street consensus estimate of $22.8 billion. Automotive revenue came in at $16.66 billion, down 16% year-over-year.
Adding to Tesla's troubles are political protests against Musk's relationship with President Donald Trump, which led to <a href="https://www.benzinga.com/markets/equities/25/03/44455245/tesla-vandalism-no-coordinated-efforts-detected-experts-dispute-elon-musk-and-trumps-allegations">widespread vandalism targeting</a> Tesla vehicles, further eroding the company's brand value.
See Also:&nbsp;<a href="https://www.benzinga.com/markets/tech/25/07/46435552/larry-ellison-surges-past-mark-zuckerberg-to-become-worlds-second-richest-person-as-oracles-ai-deals-with-openai-us-government-drive-massive-stock-surge" target="_blank" rel="noreferrer noopener">Larry Ellison Surges Past Mark Zuckerberg To Become World's Second-Richest Person As Oracle's AI Deals With OpenAI, US Government Drive Massive Stock Surge</a>Play
<h2 class="wp-block-heading">Bill Gates' Loss Linked To Philanthropy</h2>
While Musk's losses are attributed to business challenges, Gates&#8217; significant drop in net worth has been due to his philanthropic efforts.
Gates' fortune dropped by $35.7 billion this year, reaching $123 billion. However, this loss reflects a recalculation that accounts for his commitment to donate most of his wealth to the Gates Foundation.
In an announcement earlier this year, Gates confirmed that he would give away approximately <a href="https://www.benzinga.com/tech/25/05/45600753/bill-gates-couldve-left-elon-musk-in-the-dust-with-a-1-2-trillion-fortune-if-he-hadnt-sold-his-microsoft-stock-or-given-it-away">$100 billion to support global causes</a>, with the foundation planning to spend this amount over the next 20 years before closing its doors.
<h2 class="wp-block-heading">Billionaires Like Larry Ellison, Mark Zuckerberg Making Waves</h2>
Several other <a href="https://www.benzinga.com/markets/tech/25/08/46939782/larry-ellison-once-said-he-had-all-the-disadvantages-necessary-for-success-as-he-aimed-to-beat-amazon-in-cloud-where-the-oracle-ceo-stands-today">billionaires have watched their wealth</a> swell amid an AI-fueled market surge. Oracle Corp's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ORCL#NYSE">ORCL</a>) Larry Ellison has climbed from $192 billion at the close of last year to $302 billion today.
Meta Platforms, Inc.'s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) Mark Zuckerberg has also seen a jump, rising from $207 billion at the end of 2024 to $270 billion currently.
Amazon.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) founder Jeff Bezos has experienced a modest gain, from $239 billion at the end of 2024 to $244 billion now.
Former Microsoft Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) CEO Steve Ballmer has added $32.4 billion to his fortune in 2025, and 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>) co-founder Larry Page's wealth has edged up $11.6 billion this year.
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</ul>
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Image via Shutterstock

AMZN

GOOG

GOOGL

MSFT

ORCL

Elon Musk's Wealth Takes More Than $60 Billion Hit In 2025, As Bill Gates Also Sees Huge Losses—But One Of Them Has Been Donating His Entire Fortune

The Trade Desk Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TTD#NASDAQ">TTD</a>) shares plummeted 38.6% on Friday to close at $54.23, despite reporting second-quarter revenue that exceeded analyst expectations. 
Check out the current price of <a href="https://www.benzinga.com/quote/ttd">TTD stock here</a>.&nbsp;
What Happened: The dramatic selloff followed the company&#8217;s first earnings report as an S&amp;P 500 member, raising questions about its premium valuation amid intensifying competition from Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), the he Wall Street Journal <a href="https://www.wsj.com/articles/ad-tech-company-trade-desk-downgraded-as-amazon-ai-reshape-digital-market-e65b020b">reported</a> on Friday.
The demand-side platform operator <a href="https://www.benzinga.com/analyst-stock-ratings/price-target/25/08/47005013/trade-desk-beats-so-why-the-jitters-guidance-growth-questions-linger">reported 19% year-over-year revenue growt</a>h to $694 million, beating consensus estimates of $685 million. Adjusted EBITDA reached $270.8 million, topping expectations of $261 million.
&#8220;Trade Desk can&#8217;t realistically maintain its current rate of revenue growth for the long term,&#8221; said Brian Wieser, founder of Madison and Wall consulting firm, according to WSJ, highlighting concerns about the company&#8217;s 66.32 price-to-earnings ratio.
Check out the current price of <a href="https://www.benzinga.com/quote/AMZN">AMZN stock here</a>.&nbsp;
Amazon&#8217;s expanding advertising business poses the biggest competitive threat. The e-commerce giant&#8217;s ad revenue surged 23% year-over-year to $15.69 billion in the second quarter, driven partly by making ad-supported video the default Prime setting, according to the report. Amazon plans to sell ad inventory from Roku Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ROKU#NASDAQ">ROKU</a>) and has secured new NBA streaming rights.
See Also: <a href="https://benzinga.com/crypto/25/08/46861936/fundstrats-tom-lee-owning-bitcoin-is-like-owning-land-under-a-mcdonalds">Fundstrat&#8217;s Tom Lee: Owning Bitcoin Is Like Owning Land Under A McDonald&#8217;s</a>
Why It Matters: &#8220;Amazon is more of a potential partner, honestly, than it is a long-term competitor,&#8221; Trade Desk CEO Jeff Green said during Thursday&#8217;s earnings call. However, Amazon&#8217;s significantly lower ad fees of approximately 1% compared to Trade Desk&#8217;s 12%-15% range creates pricing pressure.
Bank of America downgraded TTD to &#8220;underperform&#8221; and slashed its price target from $130 to $55, according to WSJ. MoffettNathanson cut its target to $45 from $75, both citing valuation concerns and growth deceleration.
Benzinga&#8217;s Edge Stock Rankings indicate, TTD stocks have negative trends across all time frames.  <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-3/#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">Find out</a> how rivals in the digital advertising space rank.
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-3/#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img loading="lazy" decoding="async" width="511" height="366" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/08/09035105/Screenshot-2025-08-09-125931.png" alt="" class="wp-image-1021244" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/08/09035105/Screenshot-2025-08-09-125931.png 511w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/08/09035105/Screenshot-2025-08-09-125931-300x215.png 300w" sizes="(max-width: 511px) 100vw, 511px" /></a></figure>
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</ul>
Image via Shutterstock
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Equities

ROKU

Amazon's Rising Ad Power Pressures Trade Desk As Shares Plunge Over 38% On Growth Concerns

The past week has been a rollercoaster ride for the financial markets. From President Donald Trump&#8216;s surprising tariffs on gold to Eli Lilly&#8217;s worst day in 25 years, the week was filled with unexpected turns. Let&#8217;s dive into the top stories that shaped the week.
<h2 class="wp-block-heading">Trump&#8217;s Gold Tariffs Shake The Market</h2>
Aug. 7, 2025, marked a significant shift for the bullion market as Trump imposed new tariffs on one-kilogram gold bars. The move, which could bifurcate the global bullion market, has also set the stage for a potential shift in U.S. monetary policy. The U.S. has imposed tariffs of up to 39% on imported kilobars and 100-ounce gold bars, significantly impacting Switzerland, the world&#8217;s largest refining hub.
<a href="https://www.benzinga.com/markets/macro-economic-events/25/08/46999430/trump-tariffs-gold-switzerland-federal-reserves">Read the full article here.</a>
Eli Lilly&#8217;s Worst Day In 25 Years
U.S. equities took a hit midday Thursday as corporate earnings and fresh tariff announcements from Trump led to divergent moves in heavyweight names. The S&amp;P 500 dropped 0.3% to 6,328, the Dow Jones Industrial Average slid 0.8% to 43,865, while the Nasdaq 100 remained nearly unchanged at 23,307.
<a href="https://www.benzinga.com/markets/economic-data/25/08/46974170/eli-lilly-weight-loss-pill-market-crash-wall-street-thursday-stocks-today">Read the full article here.</a>
See Also:&nbsp;<a href="https://benzinga.com/markets/macro-economic-events/25/08/46999430/trump-tariffs-gold-switzerland-federal-reserves" target="_blank" rel="noreferrer noopener">Trump Puts Tariffs On Gold Bars—Now The Fed Could Trigger A Shock</a>
Oil Prices Crash On US-Russia Deal
U.S. and Russian negotiators are working to finalize a potential agreement that would freeze the war in Ukraine and secure Moscow&#8217;s control over key territories. This development is causing ripple effects across markets with oil prices dropping, gold trimming earlier gains, and stocks rising to near record highs.
<a href="https://www.benzinga.com/markets/macro-economic-events/25/08/47003189/us-russia-deal-ukraine-peace-gold-oil-nasdaq">Read the full article here.</a>
Jobs Data Flashes Recession Risk
A surprisingly weak labor report reignited Wall Street&#8217;s recession fears. However, Corporate America might be telling a different story—one that shows signs of strength not seen in years. The July nonfarm payrolls report came in far below expectations, with the U.S. economy adding just 73,000 jobs.
<a href="https://www.benzinga.com/markets/large-cap/25/08/46842171/july-jobs-report-recession-sp500-earnings-insights">Read the full article here.</a>
Fed Split Over Rate Cuts Widens
The July Federal Reserve meeting may be remembered as the most divided in over three decades. Two key board members, Michelle Bowman and Christopher Waller, voted for a rate cut, while Chair Jerome Powell and the majority held rates steady. However, a dismal July jobs report has sparked new urgency among central bankers and Wall Street analysts to pull forward rate cuts.
<a href="https://www.benzinga.com/analyst-stock-ratings/analyst-color/25/08/46908946/fed-rate-cut-september-kashkari-goldman-outlook-2025">Read the full article here.</a>
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</ul>
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/ananya-gairola" target="_blank" rel="noreferrer noopener">Ananya Gairola</a>
Image via Shutterstock

Trump's Gold Tariffs Shake Markets, Eli Lilly Plunges, Oil Dips On US-Russia Deal, Jobs Miss Fuels Recession Fears — This Week In Economy

Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) has been granted a permit to operate a ride-hailing service in Texas through its subsidiary, Tesla Robotaxi LLC.
Check out the current price of <a href="https://www.benzinga.com/quote/tsla">TSLA stock here</a>.&nbsp;
What Happened: Tesla's Robotaxi LLC has been authorized to operate as a "transportation network company" in Texas through Wednesday, according to the Texas Department of Licensing and Regulation's website. A CNBC <a href="https://www.cnbc.com/2025/08/08/tesla-robotaxi-scores-permit-to-run-ride-hailing-service-in-texas.html">report</a> said the permit, issued this week, allows Tesla to compete with ride-hailing giants Uber Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UBER#NYSE">UBER</a>) and Lyft Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LYFT#NASDAQ">LYFT</a>).
The electric vehicle manufacturer&#8217;s autonomous ride-hailing service has been operational in Austin since late June, with human safety supervisors on board to intervene when necessary. The fleet comprises Model Y vehicles, all equipped with Tesla&#8217;s latest partially automated driving systems. These vehicles are also remotely monitored by employees in an operations center.
See Also: <a href="https://benzinga.com/markets/tech/25/08/46899902/jim-cramer-calls-out-intels-18-8-billion-foundry-loss-despite-subsidies-we-sell-your-stock">Jim Cramer Calls Out Intel&#8217;s $18.8 Billion Foundry Loss Despite Subsidies: &#8216;We Sell Your Stock&#8217;</a>
The Texas permit is the first of its kind for Tesla, enabling the company to operate a ride-hailing business anywhere in the state without the need for a human safety driver or valet on board.
Why It Matters: This news comes in the wake of <a href="https://www.benzinga.com/markets/tech/25/07/46361254/elon-musks-robotaxi-push-expands-to-phoenix-as-tesla-seeks-arizona-approval">Tesla&#8217;s expansion of its Robotaxi service</a> to Phoenix, Arizona, where the company applied for both autonomous vehicle testing/operating with a driver and testing/operating without a driver. Elon Musk, CEO of Tesla, believes the move to Texas is a significant step in Tesla&#8217;s pursuit of autonomous ride-hailing services. It could serve half of the U.S. population by the end of 2025.
Uber CEO Dara Khosrowshahi <a href="https://www.benzinga.com/markets/tech/25/08/46948181/uber-ceo-welcomes-teslas-robotaxi-entry-but-says-there-will-be-no-winner-take-all-could-be-a-competitor-could-be-a-partner">welcomed Tesla&#8217;s Robotaxi entry</a> into the market, stating that there will be no winner-take-all and that the future market is large enough for multiple players to succeed.
Price Action: According to <a href="https://www.benzinga.com/quote/tsla">Benzinga Pro</a> data, after closing at $329.65 with a 2.29% gain, TSLA stock saw a modest uptick in after-hours trading, rising 0.14% to $330.10.
With momentum in the 80th percentile, Benzinga's Edge Stock Rankings show Tesla's stock trending higher in both the medium and long term. Here's how it <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">performs on other key metrics</a>.
<figure class="wp-block-image size-full is-resized"><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/2025/08/09025040/Screenshot-2025-08-09-at-12.20.09%E2%80%AFPM.png" alt="" class="wp-image-1021206" style="width:438px;height:auto" /></a></figure>
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

LYFT

UBER

Tesla Scores Texas Robotaxi Permit, Pitting Elon Musk's Fleet Against Uber, Lyft In Autonomous Ride-Hailing Race

Nexstar Media Group Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NXST#NASDAQ">NXST</a>) is reportedly in advanced discussions to acquire fellow television broadcaster Tegna Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TGNA#NYSE">TGNA</a>).
Check out the current price of <a href="https://www.benzinga.com/quote/NXST">NXST stock here</a>.&nbsp;
What Happened: The Wall Street Journal <a href="https://www.wsj.com/business/deals/nextar-tegna-deal-talks-0e1d7524">reported</a>, citing sources, the deal, if successful, would be a significant move in the media industry and a test for the Federal Communications Commission&#8217;s (FCC) deregulation efforts.
The potential acquisition is currently in advanced stages, as per the report. The deal could be valued at around $8 billion, including debt.&nbsp;
Nexstar Media and Tegna did not immediately respond to <a href="http://pro.benzinga.com/">Benzinga</a>'s request for comment.
See Also: <a href="https://benzinga.com/markets/cryptocurrency/25/01/43244653/bitcoin-ethereum-solana-crash-heres-why-chinas-low-cost-ai-model-deepseek-may-be-to-blame">Bitcoin, Ethereum, Solana Crash — Here&#8217;s Why China&#8217;s Low-Cost AI Model DeepSeek May Be To Blame</a>
Check out the current price of <a href="https://www.benzinga.com/quote/TGNA">TGNA stock here</a>.&nbsp;
Tegna has a market capitalization of $2.46 billion with a trading volume of 2,742,935 shares, while Nexstar's market cap stands at $5.63 billion on a volume of 534,578 shares.
Why It Matters: The news of the potential acquisition comes on the heels of Tegna&#8217;s announcement of its expected revenue decline for the third quarter of 2025. The company projected an 18% to 20% year-over-year decrease in revenue for the quarter.
Tegna also experienced a 5% drop in revenue to $675 million, in line with its earlier guidance, in the second quarter. Distribution revenue also held steady at $370 million, as subscriber losses were balanced out by rate increases.
Price Actions: Tegna closed at $15.31, up 1.80% on Friday, then jumped 30.57% to $19.99 in after-hours trading, while Nexstar Media Group closed at $186.80, up 1.23%, before dipping 0.43% to $186.00 after hours, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro data</a>.
Benzinga&#8217;s Edge Stock Rankings indicates Tegna stock has a negative price trend across all time frames. <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 size-full is-resized"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img loading="lazy" decoding="async" width="898" height="636" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/08/09015300/image-159.png" alt="" class="wp-image-1021181" style="width:411px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/08/09015300/image-159.png 898w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/08/09015300/image-159-300x212.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/08/09015300/image-159-768x544.png 768w" sizes="(max-width: 898px) 100vw, 898px" /></a></figure>
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

NXST

TGNA

Tegna Stock Soars Over 30% In After-Hours As Nexstar Nears Acquisition Deal, Raising Stakes For FCC Deregulation Fight: Report

India has reportedly paused plans to procure U.S. defense equipment, including arms and aircraft from Lockheed Martin (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LMT#NYSE">LMT</a>), Boeing Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>) and General Dynamics (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GD#NYSE">GD</a>), as the <a href="https://www.benzinga.com/markets/asia/25/08/46908150/trump-tariffs-india-russian-oil-imports-2025">diplomatic fallout from</a> President Donald Trump's tariffs strains bilateral ties.
<h2 class="wp-block-heading">US-India Defense Talks Reportedly Stall</h2>
India has delayed its defense procurement plans following the imposition of steep tariffs by Trump, reported Reuters, citing three Indian officials.
The move has affected talks on purchasing U.S. weapons, including combat vehicles and reconnaissance aircraft. India was set to send Defense Minister Rajnath Singh to Washington to finalize deals on items such as Stryker combat vehicles, Javelin missiles, and Boeing P-8I reconnaissance aircraft.&nbsp;
However, those talks have stalled, the report said, citing the sources.
According to the report, the negotiations indicated that the defense purchases could still proceed once there is clarity on tariffs and the direction of bilateral ties, but "not as soon as they were expected."
The cancellation of Singh's trip is the first concrete sign of India's displeasure over the 50% tariff burden imposed on its exports.
India's Ministry of Defence called media reports of a pause in the talks "false and fabricated," according to the report. It added that the procurement was proceeding in accordance with "extant procedures."
Also Read:&nbsp;<a href="https://www.benzinga.com/markets/tech/25/07/46682004/weride-and-uber-expand-robotaxi-reach-in-abu-dhabi" target="_blank" rel="noreferrer noopener">WeRide And Uber Expand Robotaxi Reach In Abu Dhabi</a>
<h2 class="wp-block-heading">Trump's Tariffs And Their Impact On Bilateral Relations</h2>
The tariffs, which include a 25% additional duty imposed on Indian goods as punishment for India's oil imports from Russia, have escalated tensions between the U.S. and India.
India has called the tariffs unfair and criticized Washington's selective stance on trading with Russia. Despite this, India has not formally suspended procurement talks but is waiting for a clearer understanding of the future of U.S.-India relations before proceeding.
An Indian government source remarked that they are being unfairly targeted, while the West continues to trade with Russia when it suits their interests.
India's shift in defense procurement from Russia to Western suppliers, including the U.S., has been in response to both <a href="https://www.benzinga.com/news/politics/25/08/47017815/trump-putin-alaska-summit-set-for-august-15-as-market-eyes-ukraine-peace-talks">Russia's ongoing conflict in Ukraine</a> and its inability to meet demand for modern weapons.
India's Ministry of Defence did not immediately respond to <a href="http://pro.benzinga.com/" target="_blank" rel="noreferrer noopener">Benzinga</a>'s request for comment.
<h2 class="wp-block-heading">Modi Defends Farmers Amid Trade Tensions</h2>
Meanwhile, on Thursday, Indian Prime Minister Narendra Modi doubled down on his commitment to <a href="https://www.benzinga.com/news/politics/25/08/46954702/india-is-ready-for-it-says-pm-narendra-modi-on-trumps-tariff-threats-will-never-compromise-on-farmer-interests">protecting the interests of Indian farmers</a>. Speaking at the MS Swaminathan Centenary International Conference, Modi said that &#8220;the interest of our farmers is our top priority&#8221; and that he would &#8220;never compromise&#8221; on their welfare.
<h2 class="wp-block-heading">Potential BRICS Coordination In The Future</h2>
The broader U.S.-India relationship remains strained, but India continues to explore alternatives, including strengthening ties with other BRICS nations.
Brazilian President Lula da Silva on Wednesday suggested that <a href="https://www.benzinga.com/markets/macro-economic-events/25/08/46941302/brazils-president-says-wont-humiliate-myself-by-calling-trump-seeks-joint-brics-response-with-china-india-to-counter-tariffs">BRICS could work together</a> to counter U.S. trade pressures.
Price Action: Lockheed Martin fell 1.19% to $425.63 on Friday, while Boeing gained 0.79% to $229.12 and General Dynamics rose 0.45% to $314.13 during the same session, according to <a href="https://www.benzinga.com/pro/register?utm_adType=bzprocontent&amp;utm_campaign=14daytrial&amp;utm_ad=0717">Benzinga Pro</a>.
Benzinga's Edge Stock Rankings indicate that LMT has maintained a negative price trend across the short, medium and long term. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-4/#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">Additional performance insights are available here</a>.
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-4/#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/08/09005839/Screenshot-2025-08-09-at-10.26.36%E2%80%AFAM.png" alt="" class="wp-image-1021163" /></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.
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Lockheed, Boeing, General Dynamics Deals Reportedly Delayed As India Pauses US Defense Talks Over Trump Tariffs

World Liberty Financial, the Trump family&#8217;s crypto venture, is reportedly preparing to launch a publicly traded treasury company that will hold the family&#8217;s WLFI token and cash.
<h2 class="wp-block-heading">$1.5 Billion Fundraising Target</h2>
The plan calls for raising $1.5 billion to fund a shell company already acquired and listed on NASDAQ, according to deal documents <a href="https://fortune.com/crypto/2025/08/08/donald-trump-world-liberty-financial-digital-asset-treasury-public-company/">viewed</a> by Fortune. Eric Trump and Donald Trump Jr. would serve on the board of the new treasury vehicle.
<h2 class="wp-block-heading">Growing Trump Crypto Empire</h2>
The initiative represents the latest expansion of the Trump family&#8217;s crypto holdings. World Liberty launched last fall, generating $550 million in WLFI token sales alongside its USD1 stablecoin offering.
President Donald Trump&#8216;s media company, Trump Media &amp; Technology Group Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DJT#NASDAQ">DJT</a>), <a href="https://www.benzinga.com/trading-ideas/movers/25/07/46518216/trump-media-stock-rises-as-bitcoin-purchases-cross-2-billion">purchased $2 billion</a> in Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) for its treasury earlier this summer. The First Family has also launched separate memecoins.
World Liberty Financial did not immediately respond to <a href="http://pro.benzinga.com/" target="_blank" rel="noreferrer noopener">Benzinga</a>'s request for comment.
See Also: <a href="https://www.benzinga.com/crypto/cryptocurrency/25/08/46989435/trump-greenlights-bitcoin-in-40-trillion-401ks-peter-schiff-calls-it-a-gamble-with-retirement-savings-what-others-said">Trump Greenlights Bitcoin In $40 Trillion 401(k)s: Peter Schiff Calls It A &#8216;Gamble&#8217; With Retirement Savings — What Others Said</a>
<h2 class="wp-block-heading">Treasury Company Boom</h2>
The concept follows MicroStrategy Inc.&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) successful Bitcoin accumulation strategy. The software company, rebranded as Strategy in 2025, holds over $72 billion in Bitcoin and <a href="https://www.benzinga.com/analyst-stock-ratings/analyst-color/25/08/46804754/microstrategys-14-billion-bitcoin-gain-becomes-a-footnote-in-bold-treasury-vision">reached a $113 billion market cap</a> despite $115 million quarterly revenue.
Treasury companies now exist for Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>), Litecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/ltc/usd">LTC</a>), and other digital assets, allowing traditional investors to gain crypto exposure through regulated brokerages.
<h2 class="wp-block-heading">Policy Support Strengthens</h2>
The announcement comes as Trump signed executive orders Thursday expanding <a href="https://www.benzinga.com/crypto/cryptocurrency/25/08/46984531/trump-opens-401k-plans-to-crypto-cracks-down-on-crypto-banking-discrimination">crypto access to 401(k) retirement plans</a> and prohibiting federal regulators from using &#8220;reputational risk&#8221; to restrict crypto banking services.
House Financial Services Chair French Hill (R-AR) called the orders &#8220;an important step&#8221; against politically motivated financial discrimination, while Senator Cynthia Lummis (R-WY) praised their &#8220;transparency and accountability.&#8221;
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$BTC

$ETH

$LTC

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Trump Family Eyes $1.5 Billion Nasdaq Treasury Company To Hold WLFI Token: Report

Wedbush Securities' Dan Ives has warned that Apple Inc.'s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) failure to innovate in artificial intelligence could tarnish CEO Tim Cook's legacy, as other tech giants race ahead in the AI revolution.
<h2 class="wp-block-heading">Dan Ives Highlights Apple&#8217;s Urgent AI Crisis</h2>
On Friday, Ives, global head of technology research at Wedbush Securities, raised a critical alarm on CNBC's Fast Money regarding Apple's lack of progress in the AI sector.
Describing the current situation as a &#8220;BlackBerry moment,&#8221; Ives warned that Apple&#8217;s failure to keep up with the rapid advances in AI could severely harm the company's prospects.
&#8220;Everything that we see in big tech across the board it&#8217;s an F1 race passing them by. And Apple is essentially in Cook on a park bench drinking lemonade,&#8221; Ives stated.
He then spoke about Apple CEO's leadership.
&#8220;I think Cook should be CEO. We believe he&#8217;s been a Hall of Fame CEO and should continue to be, but it will tarnish his legacy and the Apple future if they miss out on the fourth Industrial Revolution,&#8221; the analyst said.
See Also:&nbsp;<a href="https://www.benzinga.com/markets/earnings/25/08/46899149/jim-cramer-says-tariffs-will-become-a-build-in-cost-for-companies-as-caterpillar-takes-hit-amid-mixed-q2" target="_blank" rel="noreferrer noopener">Jim Cramer Says Tariffs Will Become A ‘Build-In Cost For Companies&#8217; As Caterpillar Takes Hit Amid Mixed Q2</a>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Time is ticking for Apple to jumpstart their AI strategy..tariff situation resolved this week now it's time for Cook to address the elephant in the room…the invisible AI strategy <a href="https://twitter.com/CNBCFastMoney?ref_src=twsrc%5Etfw">@CNBCFastMoney</a> &#x23f3; <a href="https://t.co/we2yEZ0wCZ">https://t.co/we2yEZ0wCZ</a> <a href="https://t.co/qyznmbdIh1">pic.twitter.com/qyznmbdIh1</a>
&mdash; Dan Ives (@DivesTech) <a href="https://twitter.com/DivesTech/status/1954000750054359200?ref_src=twsrc%5Etfw">August 9, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
<h2 class="wp-block-heading">Apple's Missed Opportunities In AI</h2>
He pointed out that Apple&#8217;s current AI strategy lacks visibility and innovation, leaving the company trailing behind competitors like Microsoft Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), 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 and Nvidia Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), which are aggressively advancing in AI.
The biggest issue is that Apple's AI strategy is essentially invisible right now, Ives said, adding that without a significant shift, Apple risks becoming irrelevant in the AI race, especially with other tech giants pulling ahead.
Ives&#8217; Three-Part Plan To Save Apple
Ives earlier highlighted that despite <a href="https://www.benzinga.com/markets/tech/25/08/46996349/apples-blackberry-moment-looms-without-these-3-bold-ai-moves-warns-dan-ives">Apple&#8217;s massive 2.4 billion</a> iOS devices in play, the company is not capitalizing on its lead in consumer technology. To turn things around, Ives proposed a three-step plan for Apple to regain its footing in the AI space:
Acquire Perplexity: A <a href="https://www.benzinga.com/markets/equities/25/07/46216283/dan-ives-urges-apple-to-make-a-move-saying-that-perplexity-acquisition-is-a-no-brainer-its-a-matter-of-when-and-not-if">$30 billion AI</a> search engine, Perplexity, could help Apple improve Siri and other AI functions.
Hire AI Talent: Apple needs to bring in real AI experts to refresh its management team.
Partner With Google's Gemini: Instead of relying on OpenAI, Ives suggested that Apple should integrate Google's AI system, Gemini, to stay competitive.
<h2 class="wp-block-heading">Apple&#8217;s Financials And Future Outlook</h2>
Despite the concerns, Apple in July reported strong <a href="https://www.benzinga.com/markets/earnings/25/07/46776239/apple-q3-earnings-revenue-eps-smash-estimates-as-iphone-sales-jump-active-installed-base-reaches-new-highs">third-quarter earnings</a>, with $94 billion in revenue and $44.58 billion in iPhone sales. However, Ives stressed that without a clear AI strategy, Apple&#8217;s stock may face limitations in growth.
The company has until the <a href="https://www.benzinga.com/markets/tech/25/07/46680504/apple-faces-18-month-deadline-to-deliver-on-ai-says-analyst">end of 2026 to redefine</a> its AI strategy, according to other analysts like TD Cowen, who also warned about the risks of failing to act quickly.
Price Action: Apple Inc. shares rose 4.24% on Friday, closing at $229.35, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
Benzinga's Edge Stock Rankings show that AAPL maintains an upward trend in the short and medium term, while trending downward over the long term. <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>.
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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: Ringo Chiu on Shutterstock.com

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