Genelink (OTC:GNLKQ) Stock, Quote.Headers.trade-ideas

Genelink Inc is a genetics-based, personal healthcare firm that has developed DNA assessments measuring personal DNA tendencies. These small differences in DNA, called SNPs can indicate genetic variants, the protein products of which may not be performing at optimal levels and can be linked to aging and other wellness issues. The company's scientists use the DNA assessments information from each client to formulate products to optimize health and wellness within normal ranges. The company has a compilation of issued and pending patents that center on using DNA analysis for the purpose of customizing nutrition and skin care formulations for wellness and anti-aging.

Genelink Inc

According to South Korean and Ukrainian officials, North Korean soldiers are assisting Russia in its war in Ukraine and will be deployed to the battlefront within months.
What Happened: According to a Washington Post <a href="https://www.washingtonpost.com/world/2024/10/11/north-korea-russia-ukraine-military-cooperation/">report</a>, infantry soldiers from the DPRK are currently undergoing training in Russia and are expected to be deployed in Ukraine by the end of the year.
North Korean officers are already stationed in Russian-occupied areas of Ukraine, where they are observing Russian forces and studying the battlefield.
According to the report, a Ukrainian military intelligence source, who requested anonymity due to the delicate nature of the situation, reported that thousands of North Korean infantry troops are presently undergoing training in Russia.
This news comes after the mutual defense pact signed earlier this summer between the North Korean leader Kim Jong Un and Russian President Vladimir Putin. 
Also Read: <a href="https://www.benzinga.com/news/24/10/41198689/north-korea-threatens-nuclear-war-but-souths-president-calls-it-a-bid-for-us-attention">North Korea Threatens Nuclear War, But South&#8217;s President Calls It A Bid For US Attention</a>
This pact signifies a strengthening alliance between the two heavily sanctioned nations against the Western-led global order.
Despite Kremlin spokesman <a href="https://www.washingtonpost.com/world/2024/10/11/north-korea-russia-ukraine-military-cooperation/">Dmitry Peskov</a> dismissing the allegations as a &#8220;hoax,&#8221; South Korean Defense Minister Kim Yong-hyun asserted that it is &#8220;highly likely&#8221; that North Korea would send additional troops to back Russia&#8217;s war efforts.
Ukraine claims that North Korean military personnel have been dispatched to oversee the use of North Korean ammunition and ballistic missiles, with some reportedly killed in action. 
The Ukrainian military intelligence official also suggested that the North Korean combat units training in Russia could be stationed in Russian border regions, thereby freeing up Russian troops for combat in Ukraine.
Why It Matters: The alleged involvement of North Korean soldiers in the Russia-Ukraine conflict could escalate tensions and complicate diplomatic relations. The mutual defense pact between North Korea and Russia, signed earlier this summer, has already raised eyebrows in the international community. 
The potential deployment of North Korean troops in Ukraine could further strain relations between these nations and the Western world, and potentially destabilize the region.
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This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

News

Global

North Korean Forces Aiding Russia In Ukraine War Effort

Kansas City Chiefs kicker Harrison Butker has publicly shown his support for former President Donald Trump, referring to him as &#8220;the most pro-life president.&#8221;
What Happened: Butker made his endorsement on Fox News&#8217; The Ingraham Angle. The football player, known for his strong Christian beliefs, stressed that abortion is &#8220;the most crucial topic&#8221; for him.
Butker has previously voiced his disagreement with Trump on women&#8217;s reproductive rights. However, he has been more outspoken about his opposition to President Joe Biden&#8216;s stance on abortion, which he referred to as &#8220;delusional.&#8221;
&#8220;I'm supporting the president that's going to be the most pro-life president, and I think Donald Trump is the most pro-life president,&#8221; Butker <a href="https://www.foxnews.com/sports/harrison-butker-endorses-donald-trump-the-most-pro-life-president">told</a> Fox News. &#8220;That&#8217;s a topic that is the most crucial topic for me. I want us to be fighting for the most vulnerable, fighting for the unborn, and that's what we should prioritize.&#8221;
Also Read: <a href="https://www.benzinga.com/news/24/09/40869733/trump-stumbles-again-over-health-care-issues-involving-abortion-and-obamacare">Trump Stumbles Again Over Health Care Issues Involving Abortion And Obamacare</a>
During the Chiefs&#8217; visit to the White House last year following their Super Bowl victory, Butker wore a tie inscribed with the Latin phrase &#8220;Vulnerari Praesidio,&#8221; translating to &#8220;Protect the most vulnerable.&#8221; He also wore a gold pin symbolizing the size of the feet of a human fetus at 10 weeks.
After his public endorsement of Trump, there has been a substantial increase in the sales of Butker&#8217;s jersey, making it one of the most sought-after in the market.
Why It Matters: This endorsement comes amid a time of heightened political polarization in the country. 
Butker&#8217;s public support for Trump, particularly on the issue of abortion, highlights the influence of personal beliefs on public figures&#8217; political affiliations. 
His endorsement also underscores the intersection of sports and politics, and the potential impact of athletes&#8217; political stances on their fan base, as evidenced by the surge in his jersey sales.
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This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.
Photo: Wikimedia Commons

Sports

NFL Star Shocks Fans With Trump Endorsement

&#8220;Commercial success is a mark of failure for a graffiti artist. We're not supposed to be embraced in that way.&#8221; Banksy
A UK cannabis dealer who laundered his illegal earnings through artworks by the elusive British street artist Banksy has been sentenced to three years in prison.
Christopher Scrivens, 37, led a weed trafficking operation and used his profits to acquire luxury items, including Banksy paintings. During a raid on Scrivens&#8217; home in South Wales, police confiscated several artworks, including Monkey Queen, The Watchtower Swing and a sculpture titled Grappling Hook. Scrivens later surrendered another piece, The Cross, completing his Banksy collection, valued at nearly $250,000.
<h3 class="wp-block-heading">Banksy: Anonymous But Famous</h3>
Banksy, one of the world&#8217;s most famous artists though his identity remains unknown, officially at least. His artwork has is risen in price over the last 20 years, with original paintings varying between hundreds of thousands to millions of dollars. Banksy's murals have been seen on walls in cities and towns around the world including London, Los Angeles, New York, Bethlehem and the West Bank since 2000. 
Read Also: <a href="https://www.benzinga.com/markets/cannabis/24/10/41298029/rachel-sennott-arrested-in-cayman-islands-i-wanted-to-be-arrested-for-something-awesome-not-cbd">Rachel Sennott Arrested In Cayman Islands: I Wanted &#8216;To Be Arrested For Something Awesome&#8217; Not CBD</a>
Meanwhile, local police revealed that their organized crime team had spent three years investigating Scrivens, who had openly boasted about his plan to &#8220;flood the Valleys&#8221; with California cannabis.
Prosecutor Roger Griffiths explained that Scrivens' cannabis profits were laundered to purchase these high-value art pieces. Scrivens, from the Welsh town of Ebbw Vale, admitted to importing marijuana worth nearly $140,000 and conspiring to buy and sell cannabis.
&#8220;Money was laundered for Scrivens to acquire the Banksy&#8217;s sculpture The Grappling Hook. The defendant&#8217;s ill-gotten gains were used to pay for the object,&#8221; Griffiths said <a href="https://www.bbc.com/news/articles/c1wn2ev41d9o">according</a> to the BBC.
The court also heard how Scrivens used family, friends and neighbors to receive packages of marijuana shipped from the U.S. Detective Chief Inspector Mike Preston described the case as complex, noting that the defendants tried to conceal theie proceeds in extravagant purchases.
&#8220;This is a particularly complex case, where the defendants have attempted to hide the proceeds of their crimes in extravagant items of clothing, vehicles, and artwork," Preston said. "Taking away the assets that criminals have purchased through crime sends the message that crime does not pay.&#8221;
The Banksy artwork will soon be subject to the Proceeds of Crime Act process. 
&#8220;You invested in expensive art in an effort to distance yourself from your crimes,&#8221; said Judge Vanessa Francis who handed down Scrivens' sentence.
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Photo of Banksy mural in Bethlehem courtesy of Maureen Meehan

Cannabis

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Cannabis Trafficker Who Planned to 'Flood the Valleys' With Weed Used Banksy Art To Launder Money, Court Reveals

Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) stock fell by 10% after a less-than-stellar robotaxi reveal event on Friday that failed to wow Wall Street.
What Happened: Tesla CEO Elon Musk unveiled the company&#8217;s future vision on Friday, which includes two-seater Cybercabs operating without human intervention. Notably, these vehicles are designed without a steering wheel or foot pedals.
According to the report <a href="https://markets.businessinsider.com/news/stocks/tesla-stock-price-drops-after-robotaxi-event-disappoints-wall-street-2024-10?_gl=1&#x2A;n9udpg&#x2A;_ga&#x2A;MTg0NzY4ODM4Mi4xNjg2OTgyMzcy&#x2A;_ga_E21CV80ZCZ&#x2A;MTcyODcxOTY4MC42MDMuMS4xNzI4NzE5OTQ2LjM4LjAuMA..">by</a> Business Insider, Wall Street was not impressed, especially considering the already operational robotaxi service by Waymo. Analysts drew parallels between the Cybercab demos and a slow, short amusement park ride, criticizing them for their controlled environment.
The report states that Tesla Inc. shares closed at $238.77 on Thursday. On Friday, the stock opened at $220.13, dropped to a low of $214.38 during early trading, and finished the day at $217.80.
Analysts also highlighted the absence of details on Tesla&#8217;s execution strategy. Toni Sacconaghi, a Bernstein analyst, pointed out the need for Tesla to provide more proof to investors, commenting on the lack of detail.
Also Read: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41295072/tesla-robotaxi-day-event-more-fanfare-than-substance-8-analysts-on-cybercab-optimus">Tesla Robotaxi Day Event &#8216;More Fanfare Than Substance&#8217;: 8 Analysts On Cybercab, Optimus, Autonomous Vehicle Vision</a>
Despite Musk&#8217;s projected timeline of launching a robotaxi network by 2026 or 2027, Sacconaghi expressed doubts about the potential for significant profits due to technical and regulatory hurdles.
Simultaneously, Uber&#8217;s stock witnessed a 9% increase, as investors are of the opinion that Tesla&#8217;s proposed robotaxi network is unlikely to disrupt Uber&#8217;s main business.
Why It Matters: The lackluster response to Tesla&#8217;s robotaxi reveal event underscores the challenges the company faces in convincing investors of its future vision. 
The skepticism expressed by analysts and the subsequent drop in Tesla&#8217;s stock value highlight the importance of providing detailed plans and demonstrating the feasibility of such ambitious projects. 
Furthermore, the rise in Uber&#8217;s stock suggests that investors still see value in traditional ride-hailing services, despite the advancements in autonomous vehicle technology.
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This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

Markets

TSLA

Tesla Stock Tumbles After Underwhelming Robotaxi Presentation

A new campaign ad supporting Florida&#8217;s Amendment 3, which aims to legalize recreational marijuana, features Republican Sen. Joe Gruters addressing critics of the measure.&nbsp;
Titled "Blowing Smoke," the ad counters claims from Governor <a href="https://www.benzinga.com/topic/ron-desantis">Ron DeSantis</a>, who opposes the amendment and has sparked further controversy by refusing to extend the Oct. 7 voter registration deadline during Hurricane Milton evacuations.
<ul>
<li>Get Benzinga's exclusive analysis and the top news about the cannabis industry and markets daily in your inbox for free. Subscribe to our newsletter&nbsp;<a href="https://newsletteremail.benzinga.com/subscribe" target="_blank" rel="noreferrer noopener">here</a>. You can&#8217;t afford to miss out if you're serious about the business.</li>
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<h3 class="wp-block-heading">Gruters Reassures Voters On Public Marijuana Use</h3>
Gruters, who led efforts to ban smoking on public beaches, emphasizes that Amendment 3 won't allow for uncontrolled public marijuana use. "Florida will do marijuana legalization the right way," he assures, explaining that public cannabis use will be regulated much like<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/06/39469809/cannabis-vs-coca-cola-and-marlboro-marijuana-market-growth-outpaces-alcohol-tobacco"> tobacco</a>.
<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"> 
<div class="wp-block-embed__wrapper">
<iframe loading="lazy" title="Blowing Smoke &#x7C; Vote Yes on Amendment 3!" width="500" height="281" src="https://www.youtube.com/embed/qcn7U-0XEw0?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
</div>
<figcaption class="wp-element-caption">Blowing Smoke &#x7C; Vote Yes on Amendment 3 &#8211; Via Smart And Safe Campaign. </figcaption></figure>
Read Also: <a href="https://www.benzinga.com/markets/cannabis/24/10/41279305/desantis-rejects-voter-registration-extension-during-hurricane-milton-evacuations-cannabis-compa">DeSantis Rejects Voter Registration Extension During Hurricane Milton Evacuations; Cannabis Companies Close Operations</a>
<h3 class="wp-block-heading">DeSantis Criticized For Hurricane And Voter Registration Response</h3>
Governor DeSantis argues that the amendment could lead to unchecked marijuana use in public spaces. At the same time, his <a href="https://www.benzinga.com/markets/cannabis/24/10/41279305/desantis-rejects-voter-registration-extension-during-hurricane-milton-evacuations-cannabis-compa">refusal to extend the voter registration deadline</a> amid hurricane evacuations has drawn criticism from civil rights groups.&nbsp;
Amy Keith, executive director of Common Cause Florida, pointed out that evacuation orders hindered voter registration efforts. Brad Ashwell from All Voting is Local echoed the concerns, highlighting that many Floridians faced back-to-back hurricanes.
<h3 class="wp-block-heading">Cannabis Operators Prepare For Hurricane Milton</h3>
In addition to the political debate, cannabis companies like Trulieve Cannabis Corp. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/TCNNF#OTC">TCNNF</a>) and Cresco Labs Inc. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CRLBF#OTC">CRLBF</a>) have been affected by the storm.&nbsp;
Trulieve shut down 80 stores, while Cresco closed nine dispensaries and a cultivation facility to protect staff and operations ahead of Hurricane Milton.
Read Next:<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41132320/slipping-weed-sales-in-floridas-market-is-this-100m-bet-really-worth-the-hype"> Slipping Weed Sales In Florida&#8217;s Market: Is This $100M Bet Really Worth The Hype?</a>

Health Care

Politics

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Fact-Check DeSantis: Why Florida's Weed Legalization Does Not Mean Smoking In Schools

Elon Musk&#8216;s artificial intelligence venture xAI is under fire for alleged covert interactions with government officials in Memphis, Tennessee, regarding the <a href="https://www.benzinga.com/news/24/03/37766544/elon-musk-is-feuding-with-sam-altman-in-a-major-lawsuit-over-openai-and-one-appears-to-already-have">construction of a supercomputer</a>.
What Happened: According to a report, xAI conducted a secret meeting with local and national law enforcement agencies six months ago, prior to the public or city councilors being informed about the construction of &#8220;the world&#8217;s largest supercomputer&#8221; in the area.
The meeting entailed signing non-disclosure agreements (NDAs) with CTC Property, a shell company overseen by Musk&#8217;s personal banker, Jared Birchall, <a href="https://www.forbes.com/sites/sarahemerson/2024/10/11/how-elon-musk-muzzled-government-employees-from-talking-about-xais-new-supercomputer/">reports</a> Forbes.
Forbes was the first to reveal that government officials had signed NDAs with xAI, forbidding them from discussing the &#8220;Colossus&#8221; project. The agreement and other internal documents were procured through a series of public records requests.
Scott Banbury, conservation director of the Sierra Club Tennessee Chapter, denounced the move as &#8220;unethical,&#8221; contending that government agencies should primarily be accountable to the citizens of Memphis.
Also Read: <a href="https://www.benzinga.com/news/24/09/40764724/elon-musks-xai-eyes-share-of-future-tesla-revenue-in-potential-deal">Elon Musk&#8217;s xAI Eyes Share of Future Tesla Revenue in Potential Deal</a>
&#8220;Colossus&#8221; was assembled in just four months in a vacant factory along the Mississippi River. It was officially online a month after the Chamber publicly announced in June that xAI would be establishing its &#8220;new home&#8221; in Memphis.
However, xAI&#8217;s expansion into Memphis has been accompanied by aggressive demands on local resources. 
The data center has requested enough power to run 100,000 households and will draw more than 1 million gallons of water daily from the Memphis Aquifer for cooling its servers.
Despite the secrecy surrounding the project, xAI has reportedly declined to engage with the Memphis community. The company&#8217;s reluctance to share information about the project has sparked concerns among residents and environmental justice groups.
Why It Matters: This incident underscores the ongoing debate about the ethical implications of tech companies&#8217; dealings with government entities. 
The secrecy surrounding xAI&#8217;s project and the company&#8217;s refusal to engage with the local community has raised questions about transparency and accountability in the tech sector. 
Furthermore, the project&#8217;s significant demand on local resources highlights the environmental impact of such large-scale tech projects. 
This incident serves as a reminder of the need for tech companies to balance innovation with social responsibility.
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This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

Tech

Did Musk Try To Stop Government Workers From Discussing AI Supercomputer?

Microsoft Corporation CEO Satya Nadella has a unique task on his to-do list each day: making two phone calls to different CEOs.
What Happened: Nadella&#8217;s staff schedules two calls each day with executives from various companies as part of his networking strategy. These conversations range from major AI players like Perplexity&#8217;s CEO Aravind Srinivas to non-tech leaders like Pete Carroll, former head coach of the Seattle Seahawks.
According to a <a href="https://affiliate.insider.com/?h=a0e31c65ffe2dc4af9befbff892f2dd8da3f8e73703d656b1766156f7e16b53f&amp;platform=browser&amp;postID=6706e0890c43543ec7b24dc3&amp;postSlug=microsoft-satya-nadella-ceo-phone-calls-daily-report-2024-10&amp;site=bi&amp;u=https%3A%2F%2Fwww.theinformation.com%2Farticles%2Fnadellas-network-how-microsofts-ceo-avoids-getting-disrupted">report</a>, Nadella&#8217;s networking approach focuses on broadening his connections and staying updated about emerging companies.
He often asks two questions: &#8220;What new startups are you excited about, and what new people have you met that would be good to know?&#8221;
This networking strategy has reportedly been fruitful, resulting in key partnerships, including with Mustafa Suleyman, co-founder of DeepMind and Inflection AI. Microsoft has also invested in several startups, such as Figure AI and UAE-based AI company G42.
Also Read: <a href="https://www.benzinga.com/general/gaming/24/07/40057917/microsoft-ceo-satya-nadella-says-tech-giant-has-500m-monthly-users-across-gaming-platforms-devices">Satya Nadella Says Tech Giant Has 500M Monthly Users Across Gaming Platforms, Devices: &#8216;Our Content Pipeline Has Never Been Stronger&#8217;</a>
Leadership coach Rebecca Arnold, founder of Root Coaching &amp;amp; Consulting, shared <a href="https://www.businessinsider.com/microsoft-satya-nadella-ceo-phone-calls-daily-report-2024-10">with</a> Business Insider that many leaders feel they lack a group to bounce ideas off. She recommended leaders to seek third-party guidance but warned about potential biases and echo chambers.
Why It Matters: Nadella&#8217;s unique networking strategy provides a glimpse into how he keeps Microsoft at the forefront of technological innovation. 
By engaging with leaders from various industries, he ensures that he is always informed about the latest trends and startups. 
This approach also allows him to identify potential partnerships and investment opportunities, contributing to Microsoft&#8217;s growth and success.
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This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

MSFT

Microsoft's Nadella Makes A Point Of Calling Fellow CEOs Each Day

Bill Gates and Bernie Sanders are an unlikely duo, but they share one common belief – the rich should be taxed more. Gates even says he'd be okay with losing much of his wealth. However, Bernie, as always, takes it one step further.
On The Late Show with Stephen Colbert, <a href="https://www.youtube.com/watch?v=DD4F5it7a5M">Gates</a> discussed his new Netflix docuseries, &#8220;What&#8217;s Next? The Future with Bill Gates.&#8221; Colbert mentioned the conversation that Gates had with prominent billionaire critic Bernie Sanders throughout the show. Sanders doesn&#8217;t hold back when expressing his belief that billionaires shouldn&#8217;t exist. Gates seemed unbothered by Sanders&#8217; opinions and emphasized that he's also in favor of making the <a href="https://www.benzinga.com/personal-finance/24/09/41006562/bill-gates-says-hed-be-tens-of-billions-poorer-under-his-ideal-tax-system-but-he-still-supports-">tax system more progressive</a>.
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&#8220;I told Bernie I&#8217;d make the tax system more progressive,&#8221; Gates said, joking that while Bernie would like to take away 99% of his wealth, he'd be fine with giving up half. &#8220;I would have paid, you know, twice as much in taxes,&#8221; Gates said, &#8220;But I would still be a billionaire.&#8221; Colbert responded with humor, pointing out that even after losing 99% of his fortune, Gates would still have $1.3 billion left – plenty to get by.
See Also: How do billionaires pay less in income tax than you?<a href="https://www.benzinga.com/money/tax-deferring-adv"> Tax deferring is their number one strategy</a>.
Gates shared more details about this meeting on his website. When he emailed Sanders asking if he'd be interested in sitting down for the series, Gates didn't expect a quick response. But, to his surprise, Sanders replied almost instantly: &#8220;Bill – This sounds fun. Let's do it.&#8221;
Although they had previously met, this was their first extended discussion about inequality, and despite their differences, Gates thought Sanders was affable. Their meeting ended with both laughing when a passerby did a double take, recognizing the unexpected pairing of Bernie Sanders and Bill Gates together.
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Gates' new docuseries, which launched on Netflix on Sept. 18, explores some of the most pressing topics of our time, including climate change, artificial intelligence, income inequality and more.&nbsp;
Sanders was just one of several high-profile guests, including <a href="https://www.benzinga.com/general/entertainment/24/09/40738801/lady-gaga-mark-cuban-bernie-sanders-fauci-and-more-join-bill-gates-netflix-special-i-have-a">Anthony Fauci, Lady Gaga and Mitt Romney</a>. Gates used the series to learn from experts on these topics, something he's always loved doing.
Trending: This Adobe-backed AI marketing startup went from a $5 to $85 million valuation working with brands like L'Oréal, Hasbro, and Sweetgreen in just three years –<a href="https://www.benzinga.com/money/rad-ai"> here's how there's an opportunity to invest at $1,000 for only $0.50/share today.</a>
In the episode with Sanders, they also talked about Gates' proposal for taxing robots – a topic Sanders also touches on in his new book, &#8220;It&#8217;s OK To Be Angry About Capitalism.&#8221; Gates first suggested the idea back in 2017, arguing that if robots are replacing human jobs, they should be taxed similarly to human workers to offset the loss of payroll taxes. Sanders backed this idea, pointing out that it's time to adapt tax and regulatory policies to ensure automation doesn't simply become a &#8220;race to the bottom&#8221; for corporate profit.
According to Bloomberg, Gates, who has a net worth of $161 billion, believes the wealthy can afford to give back more. He even admitted that <a href="https://www.benzinga.com/personal-finance/24/10/41145078/billionaire-bill-gates-has-a-bold-plan-to-shrink-the-wealth-of-the-rich-heres-how-he-intends-to-">under the tax system he envisions</a>, he'd be &#8220;tens of billions of dollars poorer.&#8221; He also thinks estate taxes should play a bigger role in addressing wealth inequality.
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Startups

'I'd Still Have $1.3 Billion' – Bill Gates Says Bernie Sanders Would Take 99% Of His Fortune. He Claims He'd Be Fine Losing Just Half Of It

Kevin O'Leary, aka &#8220;Mr. Wonderful&#8221; from Shark Tank, is making a bold case for automation – arguing it streamlines operations, boosts wages and creates jobs. In a recent Instagram post and a Fox Business interview, O'Leary <a href="https://www.benzinga.com/markets/24/10/41215066/kevin-oleary-says-port-automation-wont-hurt-wages">doubled down on his belief </a>that automation, especially at ports, leads to higher productivity and better pay for workers.&nbsp;
O'Leary points to the current inefficiencies plaguing East Coast ports, particularly compared to their international counterparts in places like Singapore. He highlights how ports in Asia are light years ahead in terms of modernization and automation, which gives them a serious productivity edge. And it&#8217;s not just a minor difference, according to O&#8217;Leary – it's a productivity gap leaving the U.S. behind.
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"There's no evidence that automation hurts wages," O'Leary said on Instagram, explaining that when ports integrate advanced systems, it leads to better overall productivity. The result? Jobs that not only stay but also pay more. Employees trained to operate these robotic systems are in demand and can earn more as they gain new skills.
O'Leary's comments are particularly relevant as the International Longshoremen's Association (ILA) just temporarily called off a major dockworkers' strike that had shut Down East and Gulf Coast ports, halting billions in trade. The strike is <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41187855/port-strike-ends-after-3-days-retaliers-politicians-breathe-a-sigh-of-relief">on pause until mid-January,</a> as negotiations continue. But O'Leary points to this situation as evidence of how outdated U.S. port infrastructure is compared to other countries.
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"If you look at ports on the East Coast and compare them to Singapore, we're losing out big time," O&#8217;Leary said on Varney &amp; Co. He argues that these inefficiencies make U.S. ports less competitive globally, hurting everyone from businesses to consumers in the long run.
One of the biggest concerns during the strike was how automation could affect dockworkers. O&#8217;Leary doesn&#8217;t see this as a problem. He claims that studies on port automation have consistently shown no adverse impact on wages in the U.S., both on the East and West Coasts. He says the opposite is true: automation can increase wages for workers who learn to operate these new, sophisticated systems. He's optimistic that automation will create a wave of new jobs requiring higher skill levels, which means better pay for those workers who adapt.
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The reality of automation isn't as straightforward as Kevin O'Leary suggests. While it might reduce errors and cut costs, the overall impact on productivity is more complicated. A 2018 McKinsey report found that automated ports perform worse than traditional ones. McKinsey says automated ports "are generally less productive than their conventional counterparts." The report highlights that the massive investments in automation don't always yield the returns companies expect, especially without careful planning and management.
So, while automation has some upsides, it's not a magic fix for boosting efficiency or profits. It requires time, strategy and capital investment.
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The dockworkers&#8217; strike<a href="https://www.benzinga.com/news/24/10/41177060/port-strike-ends-workers-return-to-work-friday"> ended last week</a> after the U.S. Maritime Alliance (USMX) offered a massive 62% pay increase. While the strike is paused, the issue of automation in ports remains a hot topic. O&#8217;Leary believes that workers who embrace automation will come out on top as ports modernize.
His stance might seem controversial, especially to those who fear job losses from automation, but O'Leary is convinced that this is the way forward for productivity and growth. "We need to let automation take its course," O&#8217;Leary said, emphasizing that it's a tool for driving the economy forward, not a threat to workers.
For O&#8217;Leary, the future is clear: automation isn't going away and those who can adapt will find themselves in high demand, with bigger paychecks to match.
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Here's Why Kevin O'Leary Says Automation Leads To More Productivity, Higher Wages And More Jobs

In December 2023, billionaire entrepreneur Mark Cuban sold a majority stake in the Dallas Mavericks, a National Basketball Association team he acquired in 2000 after making several <a href="https://www.benzinga.com/general/education/24/10/41234173/how-mark-cuban-turned-broadcast-com-into-5-7b-sale-we-were-the-youtube-of-our-day">successful business sales.</a>
In a recent podcast appearance, Cuban discussed the team's success and why it was time to move on.
Dallas Mavericks Purchase, Song Memory: Cuban, who has had an entrepreneurial spirit <a href="https://www.benzinga.com/general/education/24/10/41222013/it-wasnt-anything-horrific-how-12-year-old-mark-cuban-developed-tough-skin-to-reach-billionaire">from a young age, </a>recalled deciding to approach the Mavericks&#8217; owner about buying the team after noticing that the season&#8217;s home opener wasn't a sellout.
"We're undefeated. We should have a good team. And I'm like, I can do better than this," Cuban <a href="https://link.chtbl.com/X2XxhkGp?sid=benzinga">recalled </a>on the "Life in Seven Songs" podcast.
Cuban said he had a deal done in less than a month and was the owner a couple of months later.
The billionaire paid $285 million for the team back in 2000.
Asked to pick a song to sum up his time with the Mavericks for the podcast, which sees celebrities pick songs for moments in their life, Cuban selected "Eminence Front," a song from The Who.
"Back in 2001, we moved to a new arena and the head of marketing was a guy named Matt Fitzgerald, who was a good friend of mine, basketball buddy, who unfortunately died of ALS a couple of years ago. And he came up with this song."
Cuban said the idea of using "Eminence Front" was similar to what the Chicago Bulls did during the Michael Jordan era, using the same music and making it instantly recognizable to fans.
Fitzgerald suggested The Who song, and Cuban said he promised the former Mavericks employee when he was dying that as long as he was involved, it "would always be the opening song for the match."
Cuban said Mavericks fans immediately think of games when they hear the song.
"While the beginning of this song is playing, there's a hype video that's going on on the Jumbotron that everybody gets to see. And so it's highlights of the last game. It's introductions to our starting lineup."
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Moving Past the Mavericks: Cuban recently<a href="https://www.benzinga.com/general/sports/23/12/36402593/mark-cubans-slam-dunk-deal-mavericks-majority-stake-sale-clears-the-net-whats-the-next-play"> sold a majority stake</a> in the Mavericks to casino magnate Miriam Adelson, with the team valued at $3.5 billion.
Cuban remains involved with the team as an alternate governor and maintains control of basketball operations for the Mavericks while holding a 27% ownership stake. The billionaire remains hopeful that bringing Adelson in can help with a potential casino and real estate projects if the team builds a new arena in the future.
Cuban acknowledges his children, who are 15, 18, and 21, as a key reason to step back in his commitment to the Mavericks.
"There's a lot of pressure for them. And running a professional sports team isn't always good," Cuban said.
The billionaire said when the team is winning, it's great, and everybody loves him.
"But when you're having a bad season, just, you know, your kids are on social media. I just don't want them to put up with all that abuse and everything. And, you know, that was the primary reason."
During the interview, Cuban admitted to life being much different for his kids than his childhood was.
"You don't have that unique privacy. You know, the ability to just be unnoticed that I had, and that's hard."
Cuban said he doesn't feel sorry for his kids in this regard, but knows that it hasn't always been easy for them.
"I give them a ton of credit. They're good kids. They've got big hearts. They're smart. They're respectful."
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Success Stories

Why Mark Cuban Stepped Back From Mavericks Ownership: His Kids Don't Need 'All That Abuse'

Nvidia's stock value has ballooned by an incredible $400 billion in just five days, causing quite the stir in tech and investment circles.
Now at a staggering $3.26 trillion, as per Business Insider Africa, Nvidia has soared past many competitors, though it remains behind Apple and Microsoft in terms of global market capitalization. That $400 billion increase alone surpasses the entire market value of Costco, which is roughly $250 billion, even though the retail giant posted an impressive $254 billion in revenue last year.
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The massive surge is largely thanks to Nvidia's AI-focused chips. The newly launched Blackwell chip, designed specifically for artificial intelligence, has been dubbed a game-changer. Nvidia CEO <a href="https://www.benzinga.com/startups/24/09/40692021/nvidia-ceo-jensen-huang-will-push-employees-to-their-limits-but-is-reluctant-to-let-them-go-ill-tort">Jensen Huang</a> called it &#8220;the engine to power this new industrial revolution.&#8221; Major tech players like Microsoft, Oracle and Google seem to be on the same page, pouring their support into Nvidia's technology and betting on its future impact.
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In 2024 alone, Nvidia's stock jumped by 170% and since early 2023, its growth has been nothing short of explosive – up 800%, as per Reuters. The financial numbers are jaw-dropping. While Costco generated $7.4 billion in net income last year, Nvidia boasted a whopping $30 billion in profit from $61 billion in revenue. This speaks volumes about how profitable the tech space has become, especially compared to traditional powerhouses like <a href="https://www.benzinga.com/startups/24/09/40689987/costco-members-spill-shocking-tales-of-wild-product-returns-opened-food-and-years-old-furniture-here">Costco</a>.
Jensen Huang, now worth $106 billion, is at the heart of Nvidia's extraordinary run. With his focus on AI chip development, Nvidia has cemented itself as a key player in the ongoing AI revolution.
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Beth Kindig from I/O Fund speculated that Nvidia could hit a valuation of $10 trillion by 2030 thanks to its then-anticipated Blackwell GPU chip, supported by its CUDA software platform.&nbsp;
The ripple effects of Nvidia's success are hard to miss. The &#8220;Magnificent Seven&#8221; tech giants – Meta, Alphabet, Apple, among others – are all riding the AI wave, with Nvidia's technology fueling their stock's demand by 1%. AI integration is becoming a major part of daily life and Nvidia's chips are a crucial piece of that puzzle, pushing the tech market to even greater heights.
But not everyone is cheering. Some experts have voiced concerns about the growing reliance on Nvidia in the chip industry. The worry is that if Nvidia becomes too dominant, it could lead to supply bottlenecks and increased prices, ultimately hurting competition.
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Personal Finance

Nvidia's Value Balloons By $400 Billion In Only 5 Days – Now Exceeds The Entire Market Cap Of Costco

Jamie Dimon, CEO of JPMorgan Chase &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>), issued a stark warning about challenges that <a href="https://www.benzinga.com/startups/24/10/41122659/jamie-dimon-slams-early-career-private-equity-moves-saying-it-puts-us-in-a-bad-position">could affect the U.S. economy</a>.
What Happened: In the bank&#8217;s third-quarter earnings release, Dimon highlighted several critical global risks that could disrupt both economic and geopolitical stability.
Dimon, who heads the nation&#8217;s largest bank, noted concerns around slowing inflation, fiscal deficits, and global trade disruptions, and warned that geopolitical instability could have profound long-term consequences, Fox Business <a href="https://www.foxbusiness.com/economy/jamie-dimon-warns-critical-issues-could-affect-us-economy">reports</a>. He noted the importance of preparing for unpredictable outcomes.
Dimon also pointed to the need for a robust approach to handling infrastructure needs and warned that remilitarization efforts globally could increase instability.
&#8220;We have been closely monitoring the geopolitical situation for some time, and recent events show that conditions are treacherous and getting worse,&#8221; Dimon said in the news release.
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&#8220;There is significant human suffering, and the outcome of these situations could have far-reaching effects on both short-term economic outcomes and more importantly on the course of history,&#8221; he added. 
While acknowledging the resilience of the U.S. economy, Dimon – who has been floated as a possible future Treasury secretary or Federal Reserve chair – said that the U.S. must get its fiscal house in order.
&#8220;Additionally, while&nbsp;inflation is slowing&nbsp;and the U.S. economy remains resilient, several critical issues remain, including large fiscal deficits, infrastructure needs, restructuring of trade and remilitarization of the world,&#8217; Dimon said. 
&#8220;While we hope for the best, these events and the prevailing uncertainty demonstrate why we must be prepared for any environment,&#8221; he added. 
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This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Jamie Dimon Warns Of Global Risks To Economy: 'Treacherous And Getting Worse'

Benzinga examined the prospects for<a href="http://www.benzinga.com/trading-ideas"> many investors&#8217; favorite stocks</a> over the last week — here&#8217;s a look at some of our top stories.
The S&amp;P 500 and Dow Jones Industrial Average reached new <a href="https://www.benzinga.com/news/earnings/24/10/41298806/wall-street-marks-new-record-highs-on-strong-start-to-earnings-season-investors-downplay-inflation-">record highs this week</a>, boosted by a robust start to the third-quarter earnings season. The S&amp;P 500 and Nasdaq each gained 1.1%, while the Dow rose by 1.2%, marking the fifth consecutive week of gains for these major indexes. 
Despite a higher-than-expected inflation report for both consumers and producers in September, interest rate expectations largely stayed unchanged, with traders still anticipating a rate cut in November. 
Meanwhile, Chinese stocks posted their worst weekly performance of the year, as investor sentiment was dampened by the lack of expected stimulus measures, despite a strong rally in previous weeks.
Benzinga provides daily reports on the stocks most popular with investors. Here are a few of this past week&#8217;s most bullish and bearish posts that are worth another look.
<h3 class="wp-block-heading">The Bulls</h3>
<a href="https://www.benzinga.com/markets/equities/24/10/41244462/palantirs-shyam-sankar-says-ai-is-experiential-and-if-you-pay-consultants-to-help-you-think-abou">&#8220;Palantir&#8217;s Shyam Sankar Says AI Is &#8216;Experiential,&#8217; And If You Pay Consultants To Help You Think About How To Deploy It, You&#8217;re Just Lighting Money On Fire,&#8221;</a> by <a href="https://www.benzinga.com/author/shanthi-rexaline">Shanthi Rexaline</a>, details how Palantir Technologies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NYSE">PLTR</a>) CTO Shyam Sankar believes that companies must embrace hands-on AI implementation instead of relying on consultants, emphasizing the company&#8217;s ability to quickly turn AI prototypes into tangible business value.
<a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41207040/dogecoin-killer-shiba-inu-up-39-over-the-past-30-days-but-that-will-accelerate-says-bullis">&#8220;&#8216;Dogecoin Killer&#8217; Shiba Inu Up 39% Over The Past 30 Days But That &#8216;Will Accelerate,&#8217; Says Bullish Trader&#8221;</a>, by <a href="https://www.benzinga.com/author/khyathi-dalal">Khyathi Dalal</a>, reports that Shiba Inu (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>) has surged 39% in the last month amid rising burn rates, with traders predicting further gains driven by bullish chart patterns and increased community activity.
<a href="https://www.benzinga.com/trading-ideas/long-ideas/24/10/41279473/josh-brown-flags-monster-call-buying-in-nvidia-up-to-190-strike-this-is-not-retail-money">&#8220;Josh Brown Flags &#8216;Monster&#8217; Call Buying In Nvidia Up To $190 Strike: &#8216;This Is Not Retail Money'&#8221;</a> by <a href="https://www.benzinga.com/author/adam-eckert">Adam Eckert</a>, reports that Josh Brown highlighted significant call-buying in Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), suggesting institutional investors expect the stock to rise above $190 by March 2025, far above its current trading level around $135.
For additional bullish calls of the past week, check out the following:
<a href="https://www.benzinga.com/markets/equities/24/10/41265296/teslas-future-valuation-analyst-pierre-ferragu-unveils-scenarios-ranging-from-1-4-to-4-7-trillio">Tesla&#8217;s Future Valuation: Analyst Pierre Ferragu Unveils Scenarios Ranging From $1.4 To $4.7 Trillion Based On FSD, Robotaxi Success</a>
<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41214754/microstrategy-analyst-projects-64-upside-to-stock-based-on-bitcoin-acquisition-stra">MicroStrategy Analyst Projects 64% Upside To Stock Based On Bitcoin Acquisition Strategy</a>
<a href="https://www.benzinga.com/markets/cannabis/24/10/41233018/exclusive-ross-gerber-sees-tsunami-of-money-pouring-into-cannabis-companies-upon-federal-legaliz">EXCLUSIVE: Ross Gerber Sees &#8216;Tsunami Of Money&#8217; Pouring Into Cannabis Companies Upon Federal Legalization, Says Cannabis Is One Of &#8216;Biggest&#8217; Opportunities Beyond AI</a>
The Bears
<a href="https://www.benzinga.com/markets/equities/24/10/41244481/google-cries-foul-as-doj-moves-to-break-up-search-giant-calls-recommendations-radical-as-antitru">&#8220;Google Cries Foul As DOJ Moves To Break Up Search Giant, Calls Recommendations &#8216;Radical&#8217; As Antitrust Battle Intensifies,&#8221;</a> by <a href="https://www.benzinga.com/author/kaustubh-bagalkote">Kaustubh Bagalkote</a>, reports that Alphabet Inc. (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>) faces a potential breakup as the DOJ considers measures to curb its search dominance, which Google criticizes as extreme and potentially harmful to market competition.
<a href="https://www.benzinga.com/news/24/10/41223011/rivians-production-guidance-cut-spurred-by-miscommunication-with-atlanta-based-supplier-resulting-in">&#8220;Rivian&#8217;s Production Guidance Cut Spurred By Miscommunication With Atlanta-Based Supplier, Resulting In Shortage Of Critical Copper Windings For Its Motor: Report&#8221;</a>, by <a href="https://www.benzinga.com/author/anan-ashraf">Anan Ashraf</a>, reveals that Rivian Automotive (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIVN#NASDAQ">RIVN</a>) lowered its annual production forecast by up to 18% after a miscommunication with Essex Furukawa led to a shortage of essential copper windings, impacting its EV output.
<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41227136/chinese-stocks-plunge-as-stimulus-hopes-fade-hong-kong-posts-worst-daily-decline-si">&#8220;Chinese Stocks Plunge As Stimulus Hopes Fade: Hong Kong Posts Worst Daily Decline Since October 2008&#8221;</a>, by <a href="https://www.benzinga.com/author/piero-cingari">Piero Cingari</a>, reports that Chinese stocks, including Alibaba Group Holdings Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>) and Baidu Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BIDU#NASDAQ">BIDU</a>), tumbled as investors reacted to the lack of aggressive fiscal stimulus, causing the Hang Seng Index to experience its steepest single-day drop since 2008.
For more bearish takes, be sure to see these posts:
<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41234873/amazon-stock-downgrade-by-wells-fargo-a-bearish-signal-on-growth-concerns">Amazon Stock Downgrade By Wells Fargo: A Bearish Signal On Growth Concerns</a>
<a href="https://www.benzinga.com/general/entertainment/24/10/41229099/disney-faces-150m-200m-blow-from-hurricane-milton-attendance-set-to-drop-6-says-goldman-sac">Disney Faces $150M-$200M Blow From Hurricane Milton, Attendance Set To Drop 6%, Says Goldman Sachs</a>
<a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41278873/gary-gensler-doubts-cryptocurrency-future-says-leading-figures-are-either-in-jail-or-await">Gary Gensler Doubts Cryptocurrency Future, Says Leading Figures Are Either In Jail Or Awaiting Extradition</a>
Keep up with all the latest breaking news and trading ideas by following<a href="https://twitter.com/Benzinga"> Benzinga</a><a href="http://twitter.com/Benzinga"> on Twitter</a>.
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Benzinga Bulls And Bears: Nvidia, Rivian, Alphabet, Palantir — And Crypto Trader Says Shiba Inu 'Will Accelerate'

Over the past several years, Europe has become more open-minded about medical and recreational marijuana. Here are some of the latest cannabis developments from Malta, Germany, and the United Kingdom.
<h2 class="wp-block-heading">Malta: Officials Will Confiscate HHC Products</h2>
Malta officials confirmed recently in a press conference that police and officials from the Superintendence of Public Health will start confiscating HHC products in the coming days, <a href="https://timesofmalta.com/article/officials-start-confiscating-hhc-products-shops.1099129">writes</a> Times of Malta.
The <a href="https://www.benzinga.com/markets/cannabis/24/10/41210702/malta-considers-safe-cannabis-consumption-places-new-legal-forms-of-marijuana-and-bans-hhc-produ">ban on HHC products</a> was recently confirmed by Joey Reno Vella,the CEO of Authority for the Responsible Use of Cannabis (ARUC). Reforms Junior Minister Rebecca Buttigieg said that &#8220;the ban means the shops must immediately cease importing HHC products."
HHC is a&nbsp;semi-synthetic cannabinoid&nbsp;and a&nbsp;<a href="https://www.benzinga.com/markets/cannabis/21/11/24103073/what-is-hhc-and-does-it-get-you-high" target="_blank" rel="noreferrer noopener">hydrogenated form of THC</a>. To bypass the law and offer psychoactive products to buyers some chemists are using legal THC from hemp. Sellers of HHC products claim it provides euphoric sensations, but also mental and physical relaxation. HHC can be found in the form of dried flowers, resins, oils and vaping concentrates.
&#8220;I&#8217;m not usually keen on bans as I believe in the individual&#8217;s freedom to choose, but in this case, expert advice made it clear that banning the products was the safest option for all. It was dangerous to allow them to be sold on the market,&#8221; Buttigieg added.
ARUC-licensed cannabis associations were never permitted to manufacture or sell any HHC-infused products or market them, she said.
Vella highlighted that these products were "being sold in a manipulating way as a legal alternative to cannabis. It was being sold as a dried flower sprayed with HHC, as pre-rolled joints, vapes, oils and &#8211; worst of all &#8211; edible products, usually sweets.&#8221;
He added that the products were not tested and potentially contained harmful substances.
Buttigieg pointed out that the the sale of HHC products was affecting the goal of cannabis reform, which was to offer regulated and safe products to cannabis users.
<h2 class="wp-block-heading">Germany: First Cultivation License In Soest District Approved</h2>
The first cultivation license in the Soest district (in the middle of North Rhine-Westphalia) was recently granted to "GrüneWiese" cannabis association from Werl. A total of three out of 18 applications in the Arnsberg administrative district have been approved so far. The remaining 14 are being assessed, <a href="https://born2invest.com/articles/first-cannabis-association-licensed-werl/">writes</a> Born 2 Invest.
"A huge weight has been lifted from our shoulders," said Phillip Dülberg is a board member and is also in charge of cultivation. Members invested a lot of money and time in the project since the association was founded in April. It was established with nine founding member, but now there are around 50, with the eldest member having 77 years.
"Our aim is to get to know each member personally," said Dülberg, hinting that the association will not accept people with a drug addiction problem for example. Moreover, the association is working on prevention of the misuse of cannabis and has appointed and trained a prevention officer, in addition to a doctor who is also on board.
GrüneWiese's cultivation area in the first expansion phase will be a maximum of 200 square meters (2152.78 square foot). The first flower are expected to be harvested in early 2025.
Read Also: <a href="https://www.benzinga.com/markets/cannabis/24/10/41207892/germanys-most-populous-state-approves-first-cannabis-cultivation-application">Germany&#8217;s Most Populous State Approves First Cannabis Cultivation Application</a>
<ul>
<li>Get Benzinga's exclusive analysis and the top news about the cannabis industry and markets daily in your inbox for free. Subscribe to our newsletter <a href="https://newsletteremail.benzinga.com/subscribe" target="_blank" rel="noreferrer noopener">here</a>. If you're serious about the business, you can't afford to miss out.</li>
</ul>
<h2 class="wp-block-heading">The United Kingdom: Number Or Private MMJ Prescriptions Doubles Each Year</h2>
The number of privately prescribed medical marijuana products has doubled each year since 2021, according to data from the NHS Business Services Authority (NHSBSA). More precisely, private prescriptions for unlicensed cannabis-based medicines grew from 6,137 in Sep. 2021 to 22,431 in Sep. 2023, <a href="https://businessofcannabis.com/uk-private-medical-cannabis-market-sees-exponential-growth-doubling-yearly-since-2021/">writes</a> The Business of Cannabis.
The numbers suggest a compound annual growth rate of 84%.
While it is possible to access medical marijuana through the National Health Service (NHS), this rarely occurs and only in severe cases of epilepsy, chemotherapy-caused nausea or certain cases of muscle stiffness associated with multiple sclerosis (MS). Since medical marijuana is not widely available via the NHS, many families struggle to <a href="https://www.benzinga.com/markets/cannabis/23/10/35388605/europes-high-uk-parents-need-nhs-help-for-daughters-seizures-thc-mmj-flowers-in-switzerland-more" target="_blank" rel="noreferrer noopener">afford life-saving medicine</a> for their children.
Additionally, CLEAR Cannabis Law Reform issued the third edition of its "How to Regulate Cannabis in Britain" report, calling for the establishment of a &#8220;Cannabis Inspectorate&#8221; to oversee the cultivation, distribution, and sale of cannabis.
A proposed budget is £200 million ($261.36 million), and the report suggests that legalization and taxation of cannabis at £1 per gram could generate between £3.3 billion and £9.5 billion in annual revenue for the Treasury. The legalization could also save the criminal justice system up to £646 million annually, although compliance costs are estimated between £157 million and £317 million.
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</ul>
Photo: Courtesy of Bukhta Yurii via Shutterstock

Eurozone

Malta Officials To Confiscate HHC Products, UK's Medical Marijuana Private Sector Booms, Germany Advances Licensing

<a href="https://www.benzinga.com/topic/colombia-cannabis">Colombia</a> is nearing the establishment of a regulatory framework for psychedelics as part of its broader drug policy reform efforts. Following years of violence driven by powerful cartels and the U.S.-led <a href="https://www.benzinga.com/topic/war-on-drugs">War on Drugs</a>, the country seeks a new direction, shifting from prohibition to policies centered on social justice, crime reduction and environmental protection. According to a <a href="https://www.talkingdrugs.org/from-demons-to-medicine-tracing-the-journey-of-colombias-psychedelic-regulation/?">report</a> from Double Blind, this policy evolution aims to rectify the long-lasting effects of European colonialism and the destructive consequences of anti-drug campaigns.
<h3 class="wp-block-heading">A Shift From Prohibition To Social Justice</h3>
In 2022, Colombia's leftist president Gustavo Petro boldly <a href="https://www.benzinga.com/markets/cannabis/22/09/28963475/i-come-from-a-country-of-bloodied-beauty-gustavo-petro-demands-un-to-end-the-war-on-drugs">declared</a> that the War on Drugs had amounted to "genocide," claiming it had cost the lives of "a million Latin Americans." In response, his administration launched the <a href="https://www.minjusticia.gov.co/programas-co/ODC/Paginas/Politica-Nacional-Drogas-2023-2033.aspx">2023-2033 National Drug Policy Plan,</a> which outlines strategies to tackle drug trafficking while promoting public education and destigmatizing drug use. "The National Drug Policy will promote an informed understanding of the drug phenomenon, leaving behind stigmatizing narratives," noted Colombia's Ministry of Justice in its official statement.
Colombia is uniquely positioned in the global psychedelic renaissance due to its rich biodiversity. Sacred plants like yagé, also known as <a href="https://www.benzinga.com/topic/ayahuasca">ayahuasca</a>, and yopo have long been part of the country's cultural heritage, despite being demonized by European colonizers in the 15th century. Yet, as <a href="https://www.benzinga.com/markets/cannabis/24/09/40778282/psychedelics-are-here-to-stay-and-they-belong-to-everyone-says-mycopreneurs-dennis-walker">the world embraces psychedelics</a>, Colombia grapples with balancing preservation of these traditions and addressing issues like cultural appropriation.
<h3 class="wp-block-heading">Lessons From Colombia's Troubled Cannabis Industry</h3>
Colombia's recent experience with legal cannabis also provides lessons for its psychedelic regulatory framework. After legalizing <a href="https://www.benzinga.com/markets/cannabis/20/09/17360353/3-years-into-medical-cannabis-colombia-looks-to-legalize-adult-use">medical marijuana in 2016</a>, the country saw an influx of foreign investment, but regulatory and political challenges stifled the industry's growth. This cautionary tale underscores the need for careful planning as Colombia navigates psychedelics regulation to avoid replicating past mistakes.
As <a href="https://www.benzinga.com/markets/cannabis/22/03/26127079/the-best-cities-for-a-psychedelic-trip-vol-1">psychedelic tourism</a> grows, advocates are calling for a regulatory framework that not only protects Colombia's environment but also ensures Indigenous communities, long marginalized by drug policy, are at the center of future reforms.
Cover image made with AI

Psychedelics

Colombia On The Brink Of Psychedelic Regulation Amid Drug Policy Reforms

Ben Horowitz, co-founder of VC giant Andreessen Horowitz (A16z), made a surprising pivot in his political donations. In an email to his staff, Horowitz revealed that he and his wife Felicia will make a &#8220;significant donation&#8221; to Kamala Harris's 2024 presidential campaign. This news comes just a few months after Horowitz publicly supported Donald Trump for his pro-tech stance.
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The email, which was first reported by Axios and later confirmed by Business Insider, raised eyebrows given Horowitz&#8217;s prior support for Trump. In July, Horowitz said that Trump was the right choice for the <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/41064804/is-kamala-harris-headed-for-a-crypto-reset-advocates-see-encouraging-signs-but-heres-where">future of emerging tech </a>and startups. Now, just months later, he&#8217;s backing Harris, highlighting a notable shift in his political approach.
Horowitz and his wife have known Vice President Harris for over a decade. He mentioned their long-standing friendship in the email, stating, &#8220;She has been a great friend to both of us during that time." Horowitz added that Harris helped with several events early on at his home while building A16z's Cultural Leadership Fund.
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Despite this donation, Horowitz stopped short of endorsing Harris outright. He acknowledged that while he has had conversations with Harris and her team, they have not yet stated their tech policies, which leaves A16z&#8217;s official stance on tech policy unchanged. "I am very hopeful that the Harris administration will be much better," Horowitz wrote. "But they have not yet stated their intentions."
The venture capitalist's email comes amid a presidential race that's heating up, especially in the tech sector. While Harris has not formally outlined her tech policies, Horowitz's donation signals confidence in her potential leadership. However, he still awaits more concrete details on how her administration would approach key issues <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41168731/kamala-harris-is-courting-crypto-investors-heres-how-shes-taking-a-friendlier-approach-tha">like AI, blockchain and cryptocurrency.</a>
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Horowitz's backing is major in a race where tech policies are critical. His company, A16z, has been a big player in backing startups and emerging technologies. His previous support for Trump centered on believing that Trump's policies would encourage innovation in sectors like AI and blockchain. Now, Horowitz is hedging his bets on Harris, likely hoping for a tech-friendly administration.
This move also illustrates how the tech sector could play a big role in the upcoming election. Tech investors like Horowitz are watching closely, especially after the Biden administration's <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41224030/grant-cardones-thinks-kamala-harris-misses-the-mark-on-financial-literacy-if-she-is-electe">stricter policies</a> on blockchain and AI. Horowitz earlier criticized them as &#8220;exceptionally destructive.&#8221;
With the 2024 election shaping up to be one of the closest in recent history, Horowitz's pivot could indicate a broader shift in the tech world's political allegiances. It's clear that while Horowitz has shown his support for Harris, he's still waiting for her to reveal her tech agenda. Until then, it seems the VC titan is playing it safe, keeping his options open while contributing to one of the most important political races of the century.
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VC Titan Ben Horowitz Switches Gears – 'Making A Significant Donation' To Kamala Harris Campaign

Nvidia (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) CEO <a href="https://www.benzinga.com/topic/jensen-huang">Jensen Huang</a> recently made a big statement about the future of AI in the United States. Speaking at a Bipartisan Policy Center event, Huang <a href="https://www.youtube.com/live/doJDuLMnaWc">told</a> U.S. government groups, like the Department of Energy (DOE) and the Department of Defense (DOD), that they need to get serious about artificial intelligence. His main point? The U.S. shouldn't just be making rules about AI – it should be leading the way in making and using it. Huang wants the government to build an AI supercomputer as an important step to boost innovation.
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&#8220;The thing I recommend most for every employee at Nvidia, every company CEO I meet, every leader I meet, is to engage artificial intelligence,&#8221; said Huang. He believes that the DOE and DOD should not just be setting policies for AI, but actively participating in its advancement. &#8220;Don&#8217;t just be a governor of AI, be a practitioner of AI,&#8221; he stressed.
According to Huang, a powerful AI supercomputer would revolutionize science and engineering by enabling the creation of novel algorithms that would <a href="https://www.benzinga.com/startups/24/10/41209333/jensen-huang-on-china-sanctions-were-exporting-american-technology-which-is-really-terrific-for-the">increase American competitiveness abroad</a>. The AI supercomputer has the potential to help with anything from national security to scientific progress.
<hr class="wp-block-separator has-alpha-channel-opacity" />
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<hr class="wp-block-separator has-alpha-channel-opacity" />
He explained that intelligence – both natural and artificial – is a critical resource that no country should outsource or limit. &#8220;No country in the world would say we should outsource our intelligence to anybody else. No country in the world would say we have an abundance of intelligence; let&#8217;s put a lid on this,&#8221; Huang pointed out.
In other words, the United States must continue to advance its AI capabilities if it wants to maintain its global leadership position. Huang also <a href="https://www.benzinga.com/news/24/10/41220759/nvidia-ceo-jensen-huang-once-spoke-about-the-importance-of-every-country-needing-a-sovereign-ai-but">discussed the idea of &#8220;sovereign AI,&#8221;</a> which he defines as guaranteeing that any nation maintains sovereignty over its own artificial intelligence, data, language and culture.
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Huang explained how AI can help people work better in many areas, like energy, health care and even policymaking. He said AI allows us to &#8220;be more productive, <a href="https://www.benzinga.com/news/24/04/38510989/nvidia-ceo-jensen-huang-predicts-ai-will-make-companies-hire-more-workers-with-higher-earnings-there">make more money and hire more people</a>.&#8221;
He dispelled concerns that AI will replace workers, saying that the true threat would come from someone using AI to replace a worker who doesn&#8217;t. AI is a tool that can make people&#8217;s work easier and those who can use it effectively will have a competitive advantage.
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<a href="https://www.benzinga.com/markets/equities/24/02/37258324/godfather-of-gpu-nvidias-jensen-huang-says-ai-factories-will-one-day-take-over-the-world">Huang also </a>discussed &#8220;AI factories,&#8221; or data centers that train AI models. He compared AI production to the Industrial Revolution, saying that just as previous factories needed energy to build products, AI factories will need energy to build intelligence.&nbsp;
He was very clear in saying that even though these AI factories will consume a lot of energy, they will be well worth it in the long run since they will provide new capabilities and efficiencies.
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Create New AI Algorithms To Advance Our Country' – Nvidia CEO Jensen Huang Urges DOE And DOD To Build An AI Supercomputer

Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) CEO Elon Musk is the world's richest person and has watched his wealth climb in 2024 despite the price of <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41295072/tesla-robotaxi-day-event-more-fanfare-than-substance-8-analysts-on-cybercab-optimus">Tesla stock falling.</a>
A prediction market allows bettors to wager on if Musk will remain the world's richest man at the end of the year.
What Happened: The title of the world's richest man has changed hands several times over the last years, with Musk the <a href="https://www.benzinga.com/general/education/24/06/39547388/happy-birthday-elon-musk-53-facts-and-figures-about-tesla-spacex-ceo-on-his-53rd-birthday">most frequent billionaire</a> to top the list.
Musk <a href="https://www.benzinga.com/news/23/05/32660098/musk-back-on-top-tesla-and-twitter-ceo-overtakes-arnault-as-worlds-richest-person-but-just-barely">regained the title </a>last year from LVMH (OTC:<a class="ticker" href="https://www.benzinga.com/stock/LVMUY#OTC">LVMUY</a>) CEO Bernard Arnault who had held the title. Musk also briefly <a href="https://www.benzinga.com/news/24/03/37473160/jeff-bezos-overtakes-elon-musk-reclaims-worlds-richest-person-title-as-wealth-soars-to-200b">lost the title </a>earlier this year to Amazon.com (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) founder Jeff Bezos.
The current richest people in the world list looks like this, as reported by <a href="https://www.bloomberg.com/billionaires/?sref=TBDibEcD">Bloomberg</a>, with their year-to-date change in parentheses:
<ol>
<li>Elon Musk: $255 billion (+$25.7 billion)</li>
<li>Jeff Bezos: $210 billion (+$32.7 billion)</li>
<li>Mark Zuckerberg: $207 billion (+$78.5 billion)</li>
<li>Bernard Arnault: $190 billion (-$17.3 billion)</li>
</ol>
The list also includes NVIDIA Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) CEO Jensen Huang at 11th with a wealth of $118 billion. Huang's year-to-date gain of $73.8 billion trails only Zuckerberg for best 2024 performance.
Oracle Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ORCL#NYSE">ORCL</a>) co-founder and Chief Technology Officer Larry Ellison has also been listed in the top five richest people and <a href="https://www.benzinga.com/startups/24/09/40922366/oracles-larry-ellison-briefly-became-wealthier-than-jeff-bezos-heres-how-his-fortune-outpaced-amazon">even passed Bezos </a>for second place briefly last month.
A prediction market on Kalshi allows people to bet on who will be the richest person at the end of 2024. Here are the current <a href="https://kalshi.com/markets/wealthy/wealthiest-person-in-world">odds</a>:
<ul>
<li>Elon Musk: 82%</li>
<li>Larry Ellison: 11%</li>
<li>Mark Zuckerberg: 10%</li>
<li>Jeff Bezos: 6%</li>
<li>Bernard Arnault and Family: 2%</li>
<li>Jensen Huang: 2%</li>
</ul>
The odds favor Musk by a significant margin to retain the title, which comes with Tesla shares down 10% in 2024.
Significant gains for Meta Platforms (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) and Oracle have helped move Zuckerberg and Ellison respectively up the list and likely are why their odds are higher than Bezos and other names that often come close to topping Musk.
You may not be a billionaire like Elon Musk, but you can uncover hidden gems in the stock market using our proprietary data and pattern recognition — <a href="https://www.benzinga.com/general/entertainment/24/10/41187322/benzingas-stock-whisper-index-5-stocks-investors-secretly-monitor-but-dont-talk-about-yet">check out five stocks flying under the radar that deserve your attention.</a>
Why It's Important: Kalshi is one of several prediction markets that have been allowing wagers on financial outcomes and also elections. The company recently <a href="https://www.benzinga.com/news/24/09/40760283/betting-on-u-s-elections-federal-judges-decision-greenlights-political-wagers">resumed accepting bets </a>on the 2024 election after a federal appeals court lifted a prior ban that came as the Commodity Futures Trading Commission (CFTC) contested the markets.
The Kalshi market for the world's richest person in the world has over $72,000 in wagers, which may pale in comparison to some election prediction markets.
A title of richest man in the world has been something often talked about and a title that for many marks accomplishment and success of the companies they founded or helped run.
The 10 richest people in the world at the end of 2023 <a href="https://www.benzinga.com/general/education/24/01/36454392/worlds-top-10-richest-people-gained-more-wealth-in-2023-than-walmarts-total-value-how-elon-musk">were worth $1.47 trillion</a>, adding $465.4 billion to their wealth, more than the valuation of retail giant Walmart at the time.
Read Next: 
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<li><a href="https://www.benzinga.com/general/education/24/09/40686893/elon-musk-is-so-rich-that-if-you-printed-1m-a-day-since-the-renaissance-you-still-wouldnt-catch">Elon Musk Is So Rich That If You Printed $1M a Day Since The Renaissance, You Still Wouldn&#8217;t Catch Up</a></li>
</ul>

Management

AMZN

LVMUY

ORCL

Elon Musk To End Year As Richest Man In The World? Prediction Market Says Yes, Higher Chance Than Larry Ellison Or Jensen Huang

A recent Benzinga poll pitted Warren Buffett, Elon Musk, and other renowned investors against each other, asking readers to decide who will go down as the most legendary investor in 100 years, as both billionaires have helped grow companies into market capitalizations <a href="https://www.benzinga.com/top-stories/24/08/40604676/warren-buffetts-berkshire-hathaway-breaks-1-trillion-poll-points-to-big-pharma-not-tech-as-next-cont">of $1 trillion.</a>
 What Happened: Elon Musk <a href="https://www.benzinga.com/general/education/24/06/39547388/happy-birthday-elon-musk-53-facts-and-figures-about-tesla-spacex-ceo-on-his-53rd-birthday">has helped transform</a> SpaceX and Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) into two of the most valuable companies in the world, which might explain why investors continue to believe in his companies and future growth initiatives.
While Tesla may have reached a market capitalization of $1 trillion in less time than it took Berkshire Hathaway Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>)(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>), Benzinga readers are more likely to recognize the steady returns of the conglomerate led by Warren Buffett in future years.
"In 100 years, who's going to be remembered as the most legendary investor?" Benzinga asked.
Here were the results:
<ul>
<li>Warren Buffett: 61%</li>
<li>Elon Musk: 30%</li>
<li>Jeff Bezos: 6%</li>
<li>Mark Cuban: 4%</li>
</ul>
The poll found that Buffett is most likely to be remembered as a legendary investor in the next 100 years by a two-to-one margin.
The results come as Tesla is one of the top-performing stocks of the last five years, up 1,218.9%. The stock is also up 1,337.8% over the previous 10 years.
Berkshire Hathaway stock has increased 121.1% over the last five years and 235.6% over the last 10 years.
While Berkshire Hathaway stock has trailed Tesla's performance in recent years, the company and Buffett have a<a href="https://www.benzinga.com/top-stories/24/08/40604676/warren-buffetts-berkshire-hathaway-breaks-1-trillion-poll-points-to-big-pharma-not-tech-as-next-cont" target="_blank" rel="noreferrer noopener">&nbsp;long history of beating&nbsp;</a>the S&amp;P 500.
Musk has also proven successful with his SpaceX company, valued at<a href="https://www.benzinga.com/news/24/06/39516906/elon-musks-spacex-set-for-record-210b-valuation-in-tender-offer-but-still-valued-less-than-tiktok-re" target="_blank" rel="noreferrer noopener"> a reported $210 billion</a> earlier this year.
You may not be a billionaire like Warren Buffett, but you can uncover hidden gems in the stock market using our proprietary data and pattern recognition — <a href="https://www.benzinga.com/general/entertainment/24/10/41187322/benzingas-stock-whisper-index-5-stocks-investors-secretly-monitor-but-dont-talk-about-yet">check out five stocks flying under the radar that deserve your attention.</a>
Why It's Important: While Buffett one the poll of who would be recognized as the most legendary investor, it was Musk who won a recent reader poll on who could turn <a href="https://www.benzinga.com/top-stories/24/10/41196469/musk-vs-buffett-which-investor-do-benzinga-readers-trust-to-turn-1-000-into-100-000-faster">$1,000 into $100,000 the fastest.</a>
Musk won the poll with 42% of the vote, beating out Buffett (25%), Cuban (19%) and Peter Thiel (15%).
The latest poll falls in line with the notion that investors may be likely to trust Musk with a small amount of money to invest, but when it comes to long term success, Buffett takes the crown.
A poll <a href="https://www.benzinga.com/top-stories/24/08/40423891/buffett-musk-wood-cuban-or-ackman-who-do-investors-trust-most-with-life-savings-poll-shows-it-isnt-e" target="_blank" rel="noreferrer noopener">conducted in August</a> saw Benzinga readers pick Buffett as the investor they would trust with their life savings, winning with 58% of the vote, while Musk and Cuban tied for second place, each receiving 11%.
Are you buying when the CEOs of the Magnificent 7 are selling?
<ul>
<li>Stay in the know with our Insider Trades page — <a href="https://www.benzinga.com/sec/insider-trades/">see when leaders like Mark Zuckerberg, Elon Musk, and Jensen Huang are offloading their own shares.</a></li>
</ul>
The study was conducted by Benzinga from Sept. 30 through Oct. 2, 2024, and included the responses of a diverse population of adults 18 or older. Opting into the survey was completely voluntary, with no incentives offered to potential respondents. The study reflects results from 117 adults.

Exclusives

Buffett Vs. Musk: Benzinga Readers See An Overwhelming Favorite To Go Down As The Best Investor In 100 Years

Elon Musk&#8217;s social media platform, X, formerly Twitter, has dropped Unilever Plc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UL#NYSE">UL</a>) <a href="https://www.benzinga.com/news/24/08/40210334/elon-musk-led-x-joined-by-rumble-in-advertisement-antitrust-lawsuit-there-may-also-be-criminal-liabi">from a lawsuit that accused the company</a> of conspiring to boycott the platform, leading to a loss in revenue.
What Happened: On Friday, X dropped its claims against Unilever in the antitrust lawsuit filed in a federal court in Wichita Falls, Texas, in August.
X confirmed the agreement with Unilever and expressed satisfaction to &#8220;continue our partnership with them on the platform.&#8221;
However, the social media platform did not disclose&nbsp;the terms of the agreement but said that it is the &#8220;first part of the ecosystem-wide solution and we look forward to more resolution across the industry.&#8221;
See Also: <a href="https://www.benzinga.com/news/earnings/24/10/41298806/wall-street-marks-new-record-highs-on-strong-start-to-earnings-season-investors-downplay-inflation-?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Wall Street Marks New Record Highs On Strong Start To Earnings Season, Investors Downplay Inflation Surge, Tesla Disappoints</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">X is pleased to have reached an agreement with Unilever and to continue our partnership with them on the platform. Today's news is the first part of the ecosystem-wide solution and we look forward to more resolution across the industry.
&mdash; News (@XNews) <a href="https://twitter.com/XNews/status/1844737849456771425?ref_src=twsrc%5Etfw">October 11, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Unilever stated that it had &#8220;reached&nbsp;an agreement with X, which&nbsp;has committed to meeting our&nbsp;responsibility standards to ensure the&nbsp;safety and performance of our&nbsp;brands on the platform,&#8221; reported Reuters.
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
Why It Matters: The lawsuit accused the World&nbsp;Federation of Advertisers and group&nbsp;members, including Unilever, Mars, and CVS Health, of conspiring to withhold &#8220;billions&nbsp;of dollars in advertising revenue&#8221;&nbsp;from X.
Following Musk&#8217;s <a href="https://www.benzinga.com/news/23/04/31810229/elon-musk-bought-twitter-1-year-ago-a-look-back-at-whats-happened-since-and-what-could-be-next">acquisition of X in October 2022</a>, the platform experienced a slump in ad revenues for several months. Just last month, the platform faced a <a href="https://www.benzinga.com/news/24/09/40762349/x-faces-major-advertiser-exodus-amid-string-of-elon-musk-controversies">major advertiser exodus</a> amid concerns over the platform&#8217;s content under Musk&#8217;s management.
Previously, billionaire entrepreneur Mark Cuban voiced concerns over <a href="https://www.benzinga.com/news/24/10/41229905/mark-cuban-says-elon-musk-advertisers-dont-want-to-be-associated-with-explicit-content-on-x-in-the-n">advertisers not wanting to be associated</a> with explicit content on X.
&#8220;When you talk about free speech, free speech applies to advertisers as well. They get to associate with whoever they want to, no matter what. So there are repercussions,&#8221; he stated at the time.
Musk&#8217;s platform&#8217;s value has also significantly dropped since, with <a href="https://www.benzinga.com/markets/mutual-funds/24/09/41103959/elon-musk-bought-x-for-44b-now-fidelity-values-social-media-network-below-10b">Fidelity valuing the social media</a> network below $10 billion now.
Check out more of Benzinga's Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/news/24/10/41267154/ahead-of-trump-vs-harris-faceoff-chatgpt-parent-openai-uncovers-election-interference-misuse-but-see?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Ahead Of Trump Vs. Harris Faceoff, ChatGPT Parent OpenAI Uncovers Election Interference Misuse, But Sees No &#8216;Meaningful Breakthrough&#8217;</a></li>
</ul>
Disclaimer: This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

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