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Fidelity Investments&#8216; second-quarter retirement analysis reveals a significant increase in the number of retirement millionaires, with 401(k) millionaires rising 2.5% to 497,000 and IRA millionaires increasing 6% to 398,594. This growth marks the third consecutive quarter of expansion for retirement savers&#8217; assets, driven by strong contribution levels and favorable market conditions.
The analysis shows that average account balances have reached near-record highs. IRA balances increased to $129,200, while 401(k) balances rose to $127,100, representing substantial growth compared to five and 10 years ago. Generation X account holders have made particularly notable progress, with IRA contributions at their highest level in five years.
Despite these positive trends, Northwestern Mutual&#8216;s &#8220;2024 Planning &amp; Progress Study&#8221; indicates that many millionaires still harbor financial uncertainties. Only 32% of American millionaires consider themselves &#8220;wealthy&#8221; and nearly half believe their financial plans need improvement &#8211; a huge opportunity for financial advisors. Their primary concerns revolve around the impact of taxes on retirement savings, with many wondering how much money they&#8217;ll need for a comfortable retirement and whether they might outlive their savings.
To address these concerns, millionaires are adopting various strategies. The most common approaches include making strategic withdrawals from traditional and Roth accounts to stay in lower tax brackets, using a mix of traditional and Roth retirement accounts and making strategic charitable donations. Many are also utilizing health savings accounts, permanent life insurance and annuities for their tax benefits. Choosing between these products, and getting the mix right, is difficult, and a great avenue for financial advisors to bring value to their clients.
The study reveals that millionaires are significantly more likely to work with financial advisers, with 69% doing so compared to 33% of the general population. This trend underscores the value placed on professional guidance in navigating complex financial landscapes and addressing retirement concerns.
While the growth in retirement millionaires is encouraging, the persistent financial uncertainty among this group highlights the ongoing challenges in retirement planning. It emphasizes the importance of comprehensive financial strategies that address not only wealth accumulation but also long-term financial security and tax implications in retirement and points to the needs that financial advisors can help fill.
Image via Unsplash.

Financial Advisors

Personal Finance

Record Number Of '401(k) Millionaires' Even In Times Of Financial Uncertainty

Boeing Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>) and the International Association of Machinists and Aerospace Workers (IAM) have successfully negotiated a labor agreement, thereby potentially averting a strike.
What Happened: The agreement, announced early Sunday, includes a 25% wage increase over four years, along with enhancements to healthcare costs and retirement benefits.
According to the report <a href="https://www.cnbc.com/2024/09/08/boeing-and-union-reach-a-labor-deal-potentially-averting-a-strike.html">by</a> CNBC, the union represents around 33,000 Boeing employees at factories in the Seattle area and Oregon.
Boeing has also pledged to construct its next airplane in the Pacific Northwest, as per the union&#8217;s statement. The agreement is yet to receive approval from the workers, with a vote scheduled for September 12.
The existing agreement was due to expire after Thursday, and a strike could have been initiated immediately if no deal was reached. The union had previously been advocating for more than a 40% wage increase.
Also Read: <a href="https://www.benzinga.com/news/24/09/40681758/boeing-shares-dip-in-pre-market-as-32k-workers-plan-companys-first-strike-in-16-years">Boeing Shares Dip In Pre-Market As 32K Workers Plan Company&#8217;s First Strike In 16 Years</a>
Stephanie Pope, chief executive of Boeing&#8217;s commercial airplane unit, stated, &#8220;The contract offer provides the largest-ever general wage increase, lower medical cost share to make healthcare more affordable, greater company contributions toward your retirement, and improvements for a better work-life balance.&#8221;
Why It Matters: This agreement comes as a relief for both Boeing and its employees, as a strike could have led to significant production delays and financial losses. 
The deal not only addresses the wage increase demands of the workers but also promises improvements in healthcare and retirement benefits, which are crucial aspects of employee welfare.
Moreover, Boeing&#8217;s commitment to build its next airplane in the Pacific Northwest is a strategic move that could boost local economies and reinforce its relationship with the union. 
However, the final decision rests with the workers, who are scheduled to vote on the agreement on September 12.
Read Next
<a href="https://www.benzinga.com/markets/equities/24/06/39547413/boeings-labor-countdown-union-stands-firm-as-strike-vote-looms">Boeing&#8217;s Labor Countdown: Union Stands Firm As Strike Vote Looms</a>
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

Tech

Boeing And IAM Union Strike Deal, Potentially Averting Major Strike

The past week in the tech world was dominated by significant developments in the artificial intelligence (AI) sector. From Goldman Sachs&#8217; take on the AI tech sector&#8217;s growth to Nvidia&#8217;s ambitious plans, the week was filled with intriguing stories. Here&#8217;s a quick round-up of the top stories that made headlines.
Goldman Sachs on AI Tech Sector
Despite the significant growth and investor interest in artificial intelligence stocks, analysts at Goldman Sachs have dismissed the idea that the sector is in a speculative bubble, akin to previous technology booms such as the late 1990s internet bubble. They emphasized the importance of diversification out of the &#8216;Magnificent 7&#8217;, which includes tech giants like Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) and Amazon.com (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>).
<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40741279/ai-tech-sector-is-not-in-a-bubble-but-diversification-out-of-magnificent-7-is-key-g">Read the full article here.</a>
Nvidia&#8217;s One-Stop Shop Ambition
Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) has been maintaining a competitive edge in artificial intelligence technology by providing full-stack solutions. A recent report suggests that the company, led by Jensen Huang, is aiming to go beyond selling AI accelerators that power data centers. Instead, it wants to offer a one-stop solution to its data center customers.
<a href="https://www.benzinga.com/markets/equities/24/09/40680914/nvidia-takes-a-page-from-apples-playbook-jensen-huang-wants-ai-stalwart-to-go-beyond-chips-and-bhttps://www.benzinga.com/news/24/09/40722123/openai-co-founder-ilya-sutskevers-ai-startup-raises-1b-from-andreessen-horowitz-sequoia-as-sam-altma">Read the full article here.</a>
See Also:&nbsp;<a href="https://www.benzinga.com/news/24/09/40686890/apple-nvidia-key-supplier-tsmc-leads-taiwanese-chip-giants-to-localize-neon-gas-production-by-2025?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Apple, Nvidia Key Supplier TSMC Leads Taiwanese Chip Giants To Localize Neon Gas Production By 2025</a>
Cathie Wood&#8217;s Congratulatory Message to Elon Musk
Cathie Wood, the head of Ark Invest, congratulated Tesla (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) and SpaceX CEO Elon Musk and his xAI team for successfully bringing the Colossus 100,000 H100 training cluster online in just 122 days. She hinted at &#8216;many big announcements ahead&#8217;.
<a href="https://www.benzinga.com/news/24/09/40678873/cathie-wood-congratulates-elon-musk-on-xai-milestone-after-ai-firm-brings-100k-nvidia-gpu-colossus-c">Read the full article here.</a>
Nvidia&#8217;s Projected $10 Trillion Valuation
According to Beth Kindig, lead tech analyst at I/O Fund, NVIDIA Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) is projected to surge to a $10 trillion valuation. Kindig highlighted the potential of Nvidia's next-generation artificial intelligence chip, Blackwell, which is expected to propel the chip maker with &#8216;fireworks again&#8217; in 2025.
<a href="https://www.benzinga.com/markets/equities/24/09/40670634/nvidia-set-to-reach-10-trillion-valuation-as-blackwell-expected-to-propel-chip-maker-with-firewo">Read the full article here.</a>
OpenAI Co-Founder&#8217;s Startup Raises $1B
Microsoft Corp.-backed (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) OpenAI&#8217;s co-founder Ilya Sutskever&#8217;s newly founded startup, Safe Superintelligence (SSI), has raised $1 billion from prominent venture capital firms such as&nbsp;Andreessen Horowitz,&nbsp;Sequoia Capital,&nbsp;DST Global, and&nbsp;SV Angel.
<a href="https://www.benzinga.com/news/24/09/40722123/openai-co-founder-ilya-sutskevers-ai-startup-raises-1b-from-andreessen-horowitz-sequoia-as-sam-altma">Read the full article here.</a>
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Photo courtesy: Unsplash
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/Rounak-Jain" target="_blank" rel="noreferrer noopener">Rounak Jain</a>

AAPL

AMZN

MSFT

NVDA

TSLA

AI Sector Bubble Concerns, Nvidia's One-Stop Shop Ambition, And More: This Week In AI

Robert Kiyosaki isn't holding back. In a recent post, he called out Vice President Kamala Harris, saying, "Words are cheap." Kiyosaki, the author of Rich Dad Poor Dad, believes actions speak louder in politics – and he's watching closely. His criticism? "Kamala is the anointed ‘Border Czar' yet openly admits she has never been to the border or Europe," he wrote, questioning whether she's truly committed to her role or just talking the talk. It's worth noting that the White House never formally named Harris "Border Czar."
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Kiyosaki didn't stop there. In a previous post, <a href="https://www.benzinga.com/news/24/08/40544194/robert-kiyosaki-kamala-harris-is-avocado-toast-her-lying-immoral-unethical-days-coming-to-an-end">he referred to Harris as "avocado toast," </a>implying that her political days are numbered. In the same breath, he announced a meeting with Robert F. Kennedy Jr., suggesting a potential shift in political alliances. Kiyosaki has been vocal about his views, even calling the Biden administration a "crime family" and encouraging people to distance themselves from the "criminals" in power. He urged followers to join him in Dallas at the "Infinite" event, where he met with Kennedy and continued the conversation about truth in politics.
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Kiyosaki's focus on Harris isn't just about her title or position. He's calling out the inconsistency he sees in how she presents herself. On some days, he said, Harris identifies as Asian; on others, she highlights her identity as Black. To Kiyosaki, it's more of the same: words that shift depending on the situation without the actions to back them up.
What's Kiyosaki's main point? Simple: watch what politicians say and then see what they do. He's seen too many people trust words without checking actions. And that's how you get fooled, he says. "I've been a sucker many times in life," Kiyosaki admitted, explaining how he wanted to believe in people's words but didn't always compare those words to their actions. Now, he's learned the hard way to always check both.
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Kiyosaki's take is rooted in the lessons from his "rich dad." His mentor always said, "Words are cheap … integrity is when words and actions are one." And that's the standard Kiyosaki is holding Harris and other politicians to. In his eyes, actions reveal the truth, not speeches or promises.
Kiyosaki's message is clear: your freedom depends on who you trust. And trust shouldn't be given lightly. He warns that politicians and teachers shouldn't be trusted with something as precious as your freedom. His advice? Pay attention, compare words to actions, and don't be easily fooled.
Trending: <a href="https://www.benzinga.com/money/are-you-rich">Are you rich?</a> Here&#8217;s what Americans think you need to be considered wealthy.
Kiyosaki's meeting with RFK Jr. could lead to more <a href="https://www.benzinga.com/news/24/08/40541978/trump-vs-harris-kamala-harris-takes-8-point-lead-in-new-poll-with-race-and-gender-shaping-voter-pref">discussions on integrity in politics.</a> For now, he's keeping the spotlight on Harris, calling her out to see if her actions will ever match her words.
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Robert Kiyosaki Calls Out Kamala Harris: 'Words Are Cheap' – Why He Believes Actions Speak Louder In Politics

<a href="https://www.wsj.com/tech/tesla-xai-partnership-elon-musk-30e22313" title="https://www.wsj.com/tech/tesla-xai-partnership-elon-musk-30e22313">https://www.wsj.com/tech/tesla-xai-partnership-elon-musk-30e22313</a>

The Wall Street Journal Reported Saturday Elon Musk's xAI Has Discussed Deal Where It Would Get Some Tesla Revenue In Exchange For Providing Tesla With Access To Its Technology And Resources

The past week was a rollercoaster ride for tech enthusiasts, with Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) at the center of the action. The Cupertino-based tech giant announced its much-anticipated &#8220;Glowtime&#8221; event, set to unveil the iPhone 16 series. The week also saw speculations about Apple discontinuing certain products and a surprise announcement from Huawei. Let&#8217;s dive into the details.
Apple&#8217;s &#8220;Glowtime&#8221; Event
Apple confirmed that it would hold its annual iPhone launch event, named &#8220;Glowtime,&#8221; on Monday, Sept. 9. The event is expected to showcase a variety of new products, including the highly-anticipated iPhone 16 series.
<a href="https://www.benzinga.com/news/24/08/40572621/apple-september-9-glowtime-event-heres-everything-cupertino-is-expected-to-launch">Read the full article here.</a>
Products Apple Might Discontinue
Following the annual iPhone event, Apple is expected to discontinue some of its products. These products are likely to be removed from the Apple Store post the keynote.
<a href="https://www.benzinga.com/news/24/09/40680904/7-products-apple-will-likely-discontinue-next-week-after-iphone-16-launch">Read the full article here.</a>
See Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40713896/apples-glowtime-event-will-the-iphone-16-shine-or-fizzle?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Apple&#8217;s Glowtime Event: Will The iPhone 16 Shine Or Fizzle?</a>
Analyst&#8217;s Take on Apple&#8217;s Stock
An analyst suggested that Apple&#8217;s iPhone 16 presentation might not be a &#8220;sell the news&#8221; item for the company&#8217;s stock, as has been the case with past Apple events.
<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40737548/apple-iphone-16-event-not-sell-the-news-analyst-says-shares-could-move-higher">Read the full article here.</a>
Huawei&#8217;s Countermove
In a surprising move, Chinese tech heavyweight Huawei scheduled a product launch event on Sept. 10, the same day Apple is set to reveal its iPhone 16 lineup. Huawei claims to have &#8220;turned science fiction to reality&#8221; after five years of research.
<a href="https://www.benzinga.com/news/24/09/40674140/huawei-plans-to-one-up-apples-iphone-16-with-disruptive-product-launch-says-it-has-turned-science-fi">Read the full article here.</a>
Apple&#8217;s OLED Plans
Reports suggest that Apple has decided to incorporate organic light-emitting diode or OLED displays in all iPhone models, including the lower-priced iPhone SE, from 2025.
<a href="https://www.benzinga.com/news/24/09/40699698/apple-reportedly-plans-to-switch-to-oled-for-all-iphones-starting-2025-not-just-the-top-tier-flagshi">Read the full article here.</a>
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<li><a href="https://www.benzinga.com/news/24/09/40726422/6-reasons-why-you-should-choose-iphone-16-pro-over-iphone-16">6 Reasons Why You Should Choose iPhone 16 Pro Over iPhone 16</a></li>
</ul>
Photo courtesy: Apple
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/Rounak-Jain" target="_blank" rel="noreferrer noopener">Rounak Jain</a>

Apple's 'Glowtime' iPhone 16 Launch, OLED Display Upgrades, And Huawei's Countermove: This Week In Appleverse

The past week has been a rollercoaster ride with significant developments in the financial and political landscape. From the Federal Reserve&#8217;s potential pause on rate cuts to JPMorgan&#8217;s cautionary note on the stock market, the week was filled with intriguing stories. Let&#8217;s dive into the top five stories that made headlines.
Federal Reserve May Pause Rate Cuts
A leading economist has suggested that the Federal Reserve might be compelled to put a hold on its rate cuts in response to potential supply-side shocks. However, it&#8217;s unlikely that the Fed will reverse its course.&nbsp;
<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40675100/federal-reserve-may-be-prompted-to-pause-rate-cuts-in-reponse-to-supply-side-shocks">Read the full article here.</a>
JPMorgan&#8217;s Warning On Stock Market
JPMorgan&nbsp;has issued a warning that the anticipated Federal Reserve rate cuts may not significantly boost the stock market. The bank suggests that the Fed will start easing but in a more reactive manner.&nbsp;
<a href="https://www.benzinga.com/markets/equities/24/09/40700320/jpmorgan-warns-anticipated-rate-cuts-may-not-significantly-boost-stock-markets-fed-will-start-ea">Read the full article here.</a>
See Also:&nbsp;<a href="https://www.benzinga.com/news/24/09/40724455/peter-schiff-says-illusion-of-a-strong-labor-market-fading-faster-than-kamala-harris-post-convention?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Peter Schiff Says &#8216;Illusion Of A Strong Labor Market&#8217; Fading Faster Than Kamala Harris&#8217; Post-Convention Popularity Spike As Job Openings Slide To Lowest In 3.5 Years</a>
Private Employment Misses Forecasts
Private sector job growth in August was significantly slower than economists&#8217; estimates, indicating a softening labor market. The growth of 99,000 jobs sharply missed forecasts of 140,000.&nbsp;
<a href="https://www.benzinga.com/economics/macro-economic-events/24/09/40728795/private-employment-grows-by-99-000-in-august-sharply-misses-forecasts-of-140-000-">Read the full article here.</a>
Paul Krugman Criticizes Musk And Trump&#8217;s Plans
Nobel laureate Paul Krugman has voiced concerns over the proposed federal spending cuts by&nbsp;Donald Trump&nbsp;and&nbsp;Tesla CEO&nbsp;Elon Musk. Krugman warns that these cuts pose risks to Medicare and Social Security.&nbsp;
<a href="https://www.benzinga.com/markets/equities/24/09/40743901/elon-musk-and-trumps-federal-efficiency-plans-slammed-by-paul-krugman-economist-warns-about-risk">Read the full article here.</a>
Kamala Harris&#8217;s Tax Deduction Initiative
Vice President&nbsp;Kamala Harris&nbsp;is set to unveil a $50K tax deduction for new small businesses. This move is seen as a counter to Trump&#8217;s economic policies and an attempt to win over middle-class voters ahead of the 2024 election.&nbsp;
<a href="https://www.benzinga.com/news/24/09/40699439/kamala-harris-to-unveil-50k-tax-deduction-for-small-businesses-to-counter-trumps-economic-policies-a">Read the full article here.</a>
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<li><a href="https://www.benzinga.com/news/24/09/40678841/kamala-harriss-democrat-supporters-are-in-complete-denial-of-unrealized-capital-gains-tax-claims-pie?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Kamala Harris&#8217;s Democrat Supporters Are In &#8216;Complete Denial&#8217; Of Unrealized Capital Gains Tax, Claims Pierre Ferragu, Warns &#8216;Dems Have Become The Bad Guys&#8217;</a></li>
</ul>
Photo courtesy: Shutterstock
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>

Economics

Media

Federal Reserve's Potential Rate Cut Pause, JPMorgan's Stock Market Warning, And More: This Week In Economics

The rules for inheriting pretax retirement accounts such as IRAs, 401(k)s, 403(b)s, and TSPs can be complex and nuanced. <a href="https://www.benzinga.com/personal-finance/24/09/40677521/54-year-old-woman-with-no-401-k-and-only-12-000-in-savings-seeks-suze-ormans-advice-orman-says-p">Suze Orman</a> recently offered a master class in her "Women and Money" podcast, breaking down what beneficiaries need to know to navigate these accounts effectively.
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Orman begins by categorizing beneficiaries into two primary groups: eligible designated beneficiaries and non-eligible designated beneficiaries. The distinction between the two is important because it determines how and when you must withdraw funds from an <a href="https://www.benzinga.com/personal-finance/24/08/40226135/it-would-make-your-beneficiarys-life-far-easier-if-they-inherited-a-roth-versus-a-traditional-ir">inherited account</a>.
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According to Orman, eligible designated beneficiaries are typically classified into the following categories:
<ul>
<li>Surviving Spouse: The surviving spouse enjoys the most privileges. They can treat the inherited account as their own, allowing flexible withdrawal options and continued tax-deferred growth.</li>
<li>Minor Children: A minor child of the decedent also falls into this category. However, this privilege extends only until the child reaches the age of majority. At that point, the account must be managed according to other rules.</li>
<li>Individuals Close in Age: Anyone within 10 years of the decedent's age qualifies as an eligible designated beneficiary. For example, if the decedent was 80, a 75-year-old beneficiary qualifies.</li>
<li>Chronically Ill or Disabled Individuals: Those who are chronically ill or disabled are also considered eligible designated beneficiaries. </li>
</ul>
If you fall into one of these categories, you have more flexibility than non-eligible designated beneficiaries. However, your withdrawal options depend on whether the decedent had started taking the <a href="https://www.benzinga.com/personal-finance/financial-advisors/24/07/39873500/irs-finalizes-10-year-rule-for-retirement-withdrawals-making-things-even-more">required minimum distributions (RMDs)</a>.
RMDs are a critical factor in determining how to handle an inherited IRA. Individuals must start taking RMDs from their pretax retirement accounts at age 73. However, these distributions&#8217; required beginning date (RBD) is April 1 of the year after they turn 73.
See Also: <a href="https://www.benzinga.com/money/irs-finalizes-10-year-rule-adv">IRS Finalizes 10-Year Rule For Retirement Withdrawals, Making Things &#8216;Even More Insanely Complicated&#8217;</a>
For instance, if you turn 73 this year, your RMD is based on the balance of your IRA as of Dec. 31, 2023, but you don't have to take it until April 1, 2025. If you inherit an account from someone who passed away before their RBD, your options differ based on whether you are an eligible or non-eligible beneficiary.
Orman lays out the withdrawal strategies based on the beneficiary category:&nbsp;
<ul>
<li>Eligible Designated Beneficiaries: If the decedent died before their RBD, you can either stretch distributions over your lifetime or follow the 10-year rule, which mandates full withdrawal by the 10th year after death. This flexibility is a significant advantage if you are younger and can benefit from extended tax-deferred growth.</li>
<li>Non-Eligible Designated Beneficiaries: If you are not an eligible designated beneficiary or the decedent died on or after their RBD, you must follow the 10-year rule. The account must be depleted within 10 years of the decedent's death.</li>
<li>Non-Designated Beneficiaries: If the decedent named a charity, estate, or non-see-through trust as the beneficiary, different rules apply. If the decedent died before their RBD, you have five years to withdraw the funds. If they died on or after their RBD, distributions can be stretched over the decedent's life expectancy.</li>
</ul>
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Navigating inherited pretax<a href="https://www.benzinga.com/personal-finance/24/08/40340446/67-year-old-retiree-asks-how-should-i-prioritize-my-spending-buckets-suze-orman-tells-her-tap-in"> retirement accounts</a> requires a solid understanding of these categories and withdrawal rules. As these regulations can significantly impact your financial strategy, consulting a <a href="https://www.benzinga.com/money/best-online-financial-advisors">financial advisor</a> is highly recommended to ensure you make informed decisions and optimize your inheritance.
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Suze Orman's Master Class On Navigating Inherited Pretax Retirement Accounts – What You Must Know

In the lead-up to Tuesday night&#8217;s highly anticipated presidential debate, former Secretary of State Hillary Clinton has offered Kamala Harris some strategic advice for her <a href="https://www.benzinga.com/24/09/40668757/trump-vs-harris-majority-of-us-crypto-owners-support-this-candidate">face-off with Donald Trump.</a>
What Happened: Clinton shared her experiences and lessons learned from her own debates with Trump during the 2016 presidential race. She asserted that she had triumphed in all three debates and advised Harris to steer clear of Trump&#8217;s attempts to &#8220;bait&#8221; her.
In <a href="https://www.nytimes.com/2024/09/07/us/politics/hillary-clinton-debate-trump-harris.html">an </a>interview with the New York Times, Clinton warned that Trump is likely to employ a &#8220;scorched Earth&#8221; approach, with the intent to undermine Harris. She encouraged Harris to respond to this by launching well-grounded, direct attacks, noting that Trump &#8220;can be rattled&#8221;.
"He doesn't answer the questions. He doesn't come with any specifics. It appears from the reporting that he is going with a scorched-earth approach and will just try to tear her down, which is his usual go-to strategy," Clinton told the outlet.
Talking about having a conversation with Harris, Clinton said, "I talked with her about a number of things. She just should not be baited. She should bait him. He can be rattled. He doesn't know how to respond to substantive, direct attacks."
Also Read: <a href="https://www.benzinga.com/news/24/09/40669286/harris-vs-trump-this-candidate-leading-in-numerous-polls-transforming-political-landscape">Harris Vs Trump: This Candidate Leading in Numerous Polls, Transforming Political Landscape</a>
Clinton also disclosed that Philippe Reines, who aided her in debate preparation by playing the role of Trump, is presumably assisting Harris in a similar manner. She recalled a moment when she succeeded in unsettling Trump during a debate by labeling him a &#8220;Russian puppet.&#8221;
"He did such a good job, conveying the sort of whole package of Trump for me, that I am absolutely sure he is doing the same thing for the vice president," she said.
Clinton also said that she believes one example of this was when she called him a "Russian&nbsp;puppet" during a debate.
"When I said he was a Russian puppet and he just sputtered onstage, I think that's an example of how you get out a fact about him that really unnerves him," she said.
The debate between Vice President Harris and former President Trump is set to take place on September 10.
Why It Matters: This advice from Clinton comes at a crucial time, as the debate could significantly influence public opinion and the political landscape. 
Clinton&#8217;s insights, based on her firsthand experience debating Trump, could provide Harris with a valuable perspective. The revelation that Philippe Reines, who has prior experience in debate preparation, is likely assisting Harris further underscores the importance of this event. 
The strategy of launching direct, substantive attacks, as suggested by Clinton, could prove to be a key factor in the upcoming debate.
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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.

Politics

Hillary Clinton's Advice To Kamala Harris For Donald Trump Debate Showdown: 'She Should Not Be Baited, She Should Bait Him'

Elon Musk&#8216;s social media platform X is expected to witness a drastic reduction in advertising expenditure in 2025. This forecast comes in the wake of a report by <a href="https://www.benzinga.com/news/24/08/40542027/elon-musk-asks-on-x-what-party-do-you-affiliate-with">UK-based market research firm Kantar</a>.
What Happened: Kantar&#8217;s research indicates a 26% decline in marketers&#8217; ad spend on X for the coming year. This is the largest recorded withdrawal from any major global advertising platforms to date.
The <a href="https://www.kantar.com/company-news/more-marketers-to-pull-back-on-x-ad-spend-than-ever-before">report</a> also highlights a significant decrease in marketers&#8217; trust in X as an advertising platform since its acquisition by Musk. In 2022, when the platform was still known as Twitter, advertisers&#8217; trust stood at 22%. However, by 2024, this trust had plummeted to 12%.
Gonca Bubani, Kantar&#8217;s Global Thought Leadership Director, pointed out that the rapid decline in trust over the past year suggests a reversal of this trend is unlikely. Bubani emphasized that X&#8217;s unpredictable nature makes it challenging for advertisers to ensure brand safety.
Furthermore, the report shows that X lags behind its competitors in terms of brand safety. A mere 4% of advertisers believe that advertising on X guarantees brand safety, while Google stands out with a 39% trust rating.
This development follows recent backlash Musk faced for sharing a contentious video on X, just the latest controversy involving the increasingly political Musk. His outspoken comments have further intensified advertisers&#8217; concerns about brand safety on the platform.
Also Read:&nbsp;<a href="https://www.benzinga.com/news/24/05/38907748/days-after-facing-lawsuit-for-drug-use-musk-says-he-would-take-cocaine-if-it-boosted-long-term-produ" target="_blank" rel="noreferrer noopener">Days After Facing Lawsuit For Drug Use, Musk Says He Would Take Cocaine If It Boosted &#8216;Long-Term Productivity&#8217;</a>
Earlier last month, Musk initiated legal proceedings against a consortium of advertisers. He accused the group of breaching federal antitrust laws by collectively withholding billions in advertising revenue from his social media platform.
During a November event hosted by The New York Times, Musk addressed queries regarding his antisemitic tweets and issued an apology. However, he quickly shifted tone, expressing disinterest in advertiser demands.
Musk&#8217;s decisions have left marketers with little incentive to remain on the platform, especially in light of broader budget cuts across the industry. In the wake of the GARM lawsuit, ad buyers have expressed their hesitation to associate with a platform that sues advertisers for choosing not to advertise there.
Why It Matters: The anticipated reduction in ad spend on X is a significant blow to the platform, which has been grappling with trust issues since Musk&#8217;s acquisition. 
The declining trust in X&#8217;s ability to ensure brand safety, coupled with the platform&#8217;s unpredictable nature, is a major deterrent for advertisers. 
This development underscores the importance of brand safety in advertising decisions and could potentially influence future trends in the industry.
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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.

X Faces Major Advertiser Exodus Amid String Of Elon Musk Controversies

Donald Trump is a victim of &#8220;selective prosecution,&#8221; said <a href="https://www.benzinga.com/news/24/08/40155234/naval-ravikant-calls-on-trump-and-harris-to-hold-a-press-conference-on-elon-musks-x-for-all-american">Naval Ravikant</a>, investor and co-founder of venture capital firm AngelList, on an episode of SiriusXM&#8217;s Megyn Kelly Show that premiered on Friday.
Trump&#8217;s Lawsuits: Ravikant said that the Democratic Party&#8217;s lawfare against Trump is &#8220;disgusting behavior&#8221; that could turn America into a banana republic, leading to a &#8220;one-party state better known as a dictatorship.&#8221; He added, &#8220;The moment you can start weaponizing the law against your enemy selectively that&#8217;s the beginning of the end.&#8221;
The venture capitalist said the charges brought up against Trump were really &#8220;trumped-up,&#8221; really &#8220;made up.&#8221; &#8220;You violated the statute of limitations, you tried to drum things up into a felony when there was no evidence of such. It was a mis-categorization of business expenses. When you have complex business dealings like I do and like many people, you can always find something,&#8221; he said.
Ravikant also criticized Trump&#8217;s opponent in the presidential race, stating, &#8220;If you want the case against Kamala Harris, it&#8217;s the fact that she was the D.A. of San Francisco, and San Francisco is a mess&#8230;after she advocated for George Gascon, the guy who is destroying LA by basically not prosecuting criminals and going after business owners.&#8221;
&#8220;This selective prosecution thing is a disaster,&#8221; he added. &#8220;And the people who are in Silicon Valley and the donors who are supporting this lawfare, they&#8217;re dead to me. These people are destroying the ground on which they stand.&#8221;
See Also: <a href="https://www.benzinga.com/news/24/07/39899019/naval-ravikant-hails-elon-musk-as-real-winner-in-the-election-as-joe-biden-drops-out-says-trump-stay">Naval Ravikant Hails Elon Musk As &#8216;Real Winner In The Election&#8217; As Joe Biden Drops Out, Says Trump Staying On Truth Social Is &#8216;Costing Him Dearly&#8217;</a>
Voter Disposition: Most voters these days are single issue voters and not multiple issue voters, said Ravikant. A large part of Harris&#8217; coalition are women who are upset about the Dobbs ruling, he said, referring to the Supreme Court ruling that took away women&#8217;s constitutional rights to abortion.
&#8220;I think they are just going to vote on that single issue and so each political party is a coalition of these single issues voters,&#8221; he said. &#8220;There are some dominant single issues that are driving the left just like there are on the right but you know that may help frame like why do they not care about the fact that her economic policies are disastrous well because they&#8217;re focused on abortion,&#8221; he added.
 The venture capitalist noted that through human history all change, all revolution, all success did not come from the masses or the majority it came from a small organized group. So, the largest minority that is heavily organized that&#8217;s what wins, he said. 
The left has a very clean and clear message, Ravikant said, adding that &#8220;We&#8217;re all equal you know, it&#8217;s all based on your identity that&#8217;s where your differentiation and diversity comes and not on ideology or capability like if you can do more than somebody else, if you&#8217;re better at something than anybody else that&#8217;s not diversity the diversity is based on skin color and gender and identity and sexual proclivity.&#8221;
This is a very powerful frame because it makes one a single issue voter, he said.
 Freedom of Speech: Ravikant also weighed on Harris&#8217; speech about clamping down on social media. People who go around saying things are a threat to democracy are usually the threats to democracy, he said. 
&#8220;Evil comes from the desire to coerce, it comes from the desire to fix other people. Ironically these people have the most broken lives on their own,&#8221; Ravikant said, adding that they are miserable and don&#8217;t necessarily have happy home lives. 
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Venture Capitalist Naval Ravikant: Lawfare Against Trump Is 'Disgusting Behavior' That Could Turn US Into Dictatorship — 'This Selective Prosecution Thing Is A Disaster'

In a recent poll conducted by YouGov, most Americans expressed optimism about a peaceful <a href="https://www.benzinga.com/news/24/09/40669286/harris-vs-trump-this-candidate-leading-in-numerous-polls-transforming-political-landscape">transition of power following the 2024 elections</a>.
What Happened: The <a href="https://today.yougov.com/politics/articles/50462-americans-say-democratic-party-is-more-one-of-lgbtq-people-republican-party-of-christians">poll</a> indicates that 55% of respondents believe a peaceful transition of power is &#8220;very&#8221; or &#8220;somewhat&#8221; likely after the 2024 elections. The report reveals a partisan divide in the expectations, with 65% of Democrats and 58% of Republicans anticipating a peaceful transition.
If Kamala Harris wins, 53% of Americans believe the transition will be peaceful. However, if Donald Trump wins, the figure rises slightly to 55%.
The survey&#8217;s findings come in the wake of former President Trump&#8217;s tumultuous exit from the White House after the 2020 elections. 
Also Read: <a href="https://www.benzinga.com/news/24/08/40666453/scaramucci-trump-is-in-trouble-and-he-knows-it-slams-him-on-conflicting-abortion-statements-hes-shot">Scaramucci: &#8216;Trump Is In Trouble And He Knows It&#8217;, Slams Him On Conflicting Abortion Statements: &#8216;He&#8217;s Shotgunning Out Statements And Words&#8217;</a>
Trump was impeached for a second time following the Jan. 6, 2021, attack on the Capitol and was indicted in 2023 over his efforts to remain in power post his loss to Biden.
The YouGov survey was conducted from Aug. 21-25 with 1,083 respondents and has a margin of error of plus or minus 4 percentage points.
Why It Matters: The peaceful transition of power is a cornerstone of American democracy. The 2020 elections saw a turbulent transition, with Trump being impeached a second time and later indicted in 2023. These events have led to a heightened focus on the upcoming 2024 elections and the potential transition of power. 
The YouGov survey&#8217;s findings reflect this focus, with a majority of Americans expressing optimism about a peaceful transition. This optimism, however, is not uniform, with a noticeable partisan divide in expectations. 
The survey&#8217;s results underscore the importance of the 2024 elections and the potential implications for American democracy.
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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.

Trump Vs Harris: Majority Of Americans Anticipate Peaceful 2024 Power Transfer If This Candidate Wins

UK Prime Minister Keir Starmer will meet Joe Biden for the first time since the U.S. president <a href="https://www.benzinga.com/topic/2024-election" target="_blank" rel="noreferrer noopener">announced he would not seek re-election</a>.
Starmer&#8217;s visit to the White House is scheduled for next Friday and will be his second since taking office, <a href="https://www.theguardian.com/politics/article/2024/sep/07/keir-starmer-joe-biden-meet-first-time-since-president-pulled-out-of-race" target="_blank" rel="noreferrer noopener">reported</a> The Guardian.
His initial visit occurred at the NATO summit shortly after Labour&#8217;s election victory, amid discussions about President Biden&#8217;s age and health, during which Starmer noted that Biden was in &#8220;good form.&#8221;
Since then, Kamala Harris has officially been selected as the Democratic nominee. According to a statement from White House Press Secretary Karine Jean-Pierre, the leaders will engage in &#8220;an in-depth discussion on a range of global issues of mutual interest.&#8221;
Also on the agenda will be efforts to secure a hostage release and a ceasefire agreement to end the war in Gaza.
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The discussion will also cover safeguarding international shipping in the Red Sea from Iranian-backed Houthi threats, promoting a free and open Indo-Pacific, and exploring ways to enhance U.S.-UK collaboration on securing supply chains and boosting climate resilience.
No meetings between Starmer and Harris have been announced, though it&#8217;s expected she will join the bilateral talks with Biden.
There are also no public plans for Starmer to meet Republican nominee Donald Trump, although such meetings have occurred in the past, like David Cameron&#8216;s with Mitt Romney in 2012.
In July, Starmer extended his best wishes to Trump and condemned the assassination attempt on the former president.
Recently, Starmer has traveled to Berlin and Paris in an effort to recalibrate the UK&#8217;s ties with European leaders.
On Saturday, he will head to Dublin to meet with Irish Taoiseach Simon Harris, marking the first official visit to Ireland by a UK prime minister in five years.
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The launch of Ohio's recreational cannabis market on August 6 has set the stage for significant growth, with early data showing a 45% sales increase at various marijuana shops in just two weeks. Wholesale performance has also been strong. 
&#8220;Ohio began non-medical sales on 8/6/24, but full AU rules aren&#8217;t out yet, limiting growth. In the first 26 days, total rec/med sales reached $75.6M, implying an annualized run rate of $1.06B, compared to $480M in 2Q24 (just med). We expect Ohio to reach 3-4x its current med base once the full AU program is in place,&#8221; Pablo Zuanic, senior analyst at Zuanic &amp; Associates, wrote in a Friday night note.
This positions cannabis company Vext Science Inc. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/VEXTF#OTC">VEXTF</a>) as a rising contender among multi-state operators (MSOs).
Get Benzinga's exclusive analysis and 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.
<h3 class="wp-block-heading">2Q24 Financial Performance</h3>
Despite positive trends in <a href="https://www.benzinga.com/topic/ohio-cannabis">Ohio</a>, Vext&#8217;s overall sales declined by 8% year-over-year in the second quarter, primarily due to challenges in Arizona where sales, which accounted for 61% of total revenue, fell by 34%, driven by price deflation and increased competition. 
<a href="https://www.benzinga.com/topic/pablo-zuanic">Zuanic's report </a>noted that despite outperforming the state average, Vext's Arizona stores still faced pressures. On the other hand, Ohio sales grew by 141%, partially boosted by mergers and acquisitions. 
&#8220;Vext&#8217;s profitability suffered due to startup costs in Ohio, with gross margins in both states declining by around 10 percentage points year-over-year," Zuanic wrote.
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<h3 class="wp-block-heading">Valuation And Future Projections</h3>
Zuanic highlighted Vext's current enterprise value (EV) of $77 million with a market cap of $43 million and $32 million in net debt. On a forward-looking basis, he projects that Vext could achieve a fivefold increase in valuation by late 2025, trading at 1.2x sales and 4.5x EBITDA by 4Q25.
&nbsp;"The company's high EBITDA torque to <a href="https://www.benzinga.com/markets/cannabis/24/08/40207399/cannabis-stocks-surge-with-ohios-recreational-sales-kickoff-and-strong-earnings-reports">Ohio's recreational market </a>makes it a compelling investment within the MSO group," added the senior analyst.
With further store expansions planned in Ohio and improvements in Arizona, Vext is expected to generate positive free cash flow (FCF) in the coming quarters, per the report.&nbsp;
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In a Manhattan courtroom on Friday, <a href="https://www.benzinga.com/topic/donald-trump" target="_blank" rel="noreferrer noopener">Donald Trump</a> came within feet of <a href="https://www.benzinga.com/topic/e-jean-carroll" target="_blank" rel="noreferrer noopener">E. Jean Carroll</a>, one of his most prominent accusers, as they attended oral arguments for his appeal of the $5 million jury verdict<a href="https://www.benzinga.com/news/24/08/40409472/trump-lists-over-50m-in-liabilities-for-legal-troubles-including-bond-in-ny-civil-fraud-case-and-e-j" target="_blank" rel="noreferrer noopener"> from last year that found him liable for sexual abuse and defamation</a>.
A panel of three federal judges from the 2nd Circuit Court of Appeals showed skepticism toward Trump&#8217;s effort to overturn the May 2023 verdict, <a target="_blank" href="https://www.politico.com/news/2024/09/06/trump-carroll-appeals-court-arguments-00177766" rel="noreferrer noopener">reported</a> Politico.
The verdict had determined he sexually abused Carroll in Bergdorf Goodman&#8217;s dressing room in the mid-1990s and later labeled her claim a &#8220;hoax.&#8221;
Trump did not look at Carroll in court, even as he walked directly in front of her upon entering the room. When Carroll&#8217;s lawyer, Roberta Kaplan, stated that Trump had sexually assaulted Carroll, he barely shook his head in response.
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The arguments on Friday did not address Carroll&#8217;s testimony directly but focused on the admissibility of testimony from another witness, Jessica Leeds, who alleged Trump groped her on a 1979 airplane, and the &#8220;Access Hollywood&#8221; tape from 2005, in which Trump bragged about grabbing women by their private parts.
Trump&#8217;s attorney, D. John Sauer, labeled the case as a &#8220;quintessential &#8216;he said, she said&#8217; case&#8221; and accused Carroll of having a &#8220;political motive&#8221; to tarnish Trump&#8217;s reputation.
Sauer contended that Jessica Leeds&#8217; testimony about the alleged 1979 airplane incident should be excluded because there was no federal law against sexual assault on an airplane at that time. However, Kaplan argued that a law prohibiting &#8220;simple assault&#8221; was in effect then, stating, &#8220;It was a crime then to grope someone on a plane. It is a crime today to grope someone on a plane.&#8221;
Sauer also argued that the Access Hollywood tape should not be considered a &#8220;confession&#8221; as claimed by Carroll&#8217;s lawyers because it does not refer to any specific incident. Judge Denny Chin responded that it was a &#8220;confession about a modus operandi,&#8221; to which Sauer replied that &#8220;modus operandi itself is inadmissible.&#8221;
The panel deciding Trump&#8217;s appeal is made up of three judges appointed by Democratic presidents: Chin and Judge Susan Carney by Barack Obama, and Judge Myrna Pérez by Joe Biden.
During the arguments, which lasted just over 20 minutes, Trump remained expressionless. As he left the courtroom, he ignored a reporter&#8217;s question about whether he was satisfied with the proceedings.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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E. Jean Carroll Case: Appeals Court Skeptical of Trump's Bid to Overturn Sexual Abuse Verdict

Elon Musk and JD Vance have been quite vocal about their <a href="https://www.benzinga.com/startups/23/09/34442000/elon-musk-is-now-the-father-to-11-children-after-a-3rd-baby-with-ex-girlfriend-grimes-was-announced">concerns regarding falling birthrates</a> and the need for people to have more kids. 
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Musk, for example, has frequently warned of a potential "population collapse," claiming it poses a greater threat to civilization than global warming. In his view, humanity must maintain or grow its numbers to avoid societal decline. Musk has even suggested that this issue is more urgent than many environmental concerns, arguing that <a href="https://www.benzinga.com/personal-finance/24/07/39649862/cant-possibly-think-of-genes-i-would-prefer-more-elon-musk-father-of-12-swayed-his-neuralink-exe">without enough people</a>, economies and industries will falter, especially as populations age.
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On the other hand, <a href="https://www.benzinga.com/personal-finance/24/08/40482592/jd-vance-shocks-with-claim-that-owning-a-new-car-costs-every-american-50-000-a-year">JD Vance</a> has taken a political stance on this issue. Vance has advocated for pro-family policies, drawing inspiration from Hungary's approach under Viktor Orbán, where the government incentivizes couples to have more children. Vance has asked why the U.S. couldn't implement similar measures to encourage family formation, seeing it as a way to strengthen the nation economically and culturally.
However, experts are pushing back against this pronatalist narrative, arguing that it's not the solution Musk and Vance make it out to be.
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According to demographers, the global population is still growing, albeit slower. They believe that when population decline does happen, it will be gradual and not the <a href="https://www.benzinga.com/general/24/05/38645768/elon-musk-warns-america-is-headed-towards-extinction-and-urges-people-to-have-more-children-to-fight">catastrophe that Musk predicts</a>. Instead of boosting birthrates, some experts suggest that governments should focus on policies like immigration to sustain population levels and support social programs like Social Security.
Critics of the pronatalist push also argue that these efforts place a disproportionate burden on women, who are typically the ones responsible for childbearing and child-rearing. They see the push for more children as a "Ponzi scheme," where new generations are expected to bear the weight of supporting the aging population, often without adequate support in terms of health care, child care, or parental leave.
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In addition, there's skepticism about whether pronatalist policies even work. Italy's 2020 Family Act, which aimed to reverse declining birthrates by offering child care subsidies and increased paternity leave, hasn't had the desired effect. Birthrates have continued to fall, suggesting that financial incentives alone may not be enough to encourage people to have more children.
Ultimately, while Musk and Vance frame increasing birthrates as a necessity for the future, experts warn that this approach oversimplifies complex social and economic issues, potentially leading to ineffective or even harmful policies in the long run.
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It's been one year since the Zurich launched its cannabis study &#8220;Züri Can – Cannabis with Responsibility," enabling adults to legally obtain marijuana products and the first results are positive. The study enabled people aged 18 and older to access THC-containing hash and flower products from approved outlets, including pharmacies, social clubs, and the Zurich Drug Information Center.
"Initial results show high satisfaction with the product and prevention offerings at distribution points," read the <a href="https://www.stadt-zuerich.ch/gud/de/index/departement/medien/medienmitteilungen/2024/09/ein-jahr-nach-dem-verkaufsstart-von-zueri-can-cannabis-mit-verantwortung-positive-zwischenbilanz.html">press release</a> issued jointly by the City of Zurich, the University of Zurich and the Psychiatric University Hospital Zurich.
City councilor Andreas Hauri, head of Zurich&#8217;s Department of Health and Environment, commented, &#8220;With &#8216;Züri Can – Cannabis with Responsibility,&#8217; Zurich is taking a bold and innovative approach to drug policy. Our approach focuses on the health of consumers and shows that modern prevention efforts can go hand in hand with controlled access to cannabis products. We are delighted that the project has been so well-received and will provide valuable insights for future drug policy.&#8221;
Read Also: <a href="https://drupal-cloudfront.benzinga.com/markets/cannabis/24/07/39709029/first-insights-from-swiss-pilot-cannabis-sales-show-shift-to-safer-consumption-trend-fewer-purch">First Insights From Swiss Pilot Cannabis Sales Show Shift To Safer Consumption Trend, Fewer Purchases At Illegal Market</a>
<h2 class="wp-block-heading">Initial Results</h2>
The project, set to run until October 2026, currently has around 2,100 participants. Two percent of applications were rejected for health reasons. So far, around 150 participants have left the study for various reasons, such as failing to complete the biannual survey or deciding to stop using cannabis.
Per the report, more than half of the participants consume cannabis at least four times a week and most participants report good health. The distribution points offer advice and guidance, promoting safer consumption methods. Participants are satisfied with the services, as 90% rate the staff at the outlets as competent.
&#8220;Individual counseling on harm reduction and health promotion is particularly important. We are pleased that the free consultations are being well-received,&#8221; stated project manager Barbara Burri.
In the first 12 months, approximately 36,000 sales were made at the distribution points, amounting to around 300 kg of cannabis products sold. As many as 88% of participants are satisfied with the quality of the products offered. However, some participants expressed a desire for more variety and options. To meet this demand, four new flower products will be introduced in the second year, bringing the total to 13 cannabis products available.
Upcoming surveys will examine whether participants&#8217; knowledge and behavior regarding safer consumption have improved and how their health and social situations evolve in the long term.
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Anthony Scaramucci anticipates a panic-stricken <a href="https://www.benzinga.com/24/08/40429823/anthony-scaramucci-says-donald-trumps-divisive-tactics-will-lead-to-the-first-african-american-woman">Donald Trump as his sentencing date approaches</a>.
What Happened: In a post on X, Scaramucci predicted that Trump will lose the November 5 presidential election and then &#8220;start panicking&#8221; over his sentencing on New York felony convictions three weeks later.
<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">With the sentencing looming on Nov 26, Trump will start panicking after he loses Nov 5.
&mdash; Anthony Scaramucci (@Scaramucci) <a href="https://twitter.com/Scaramucci/status/1832218429119459775?ref_src=twsrc%5Etfw">September 7, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
In another post, he stated, &#8220;There is more of us than there are for him. Trump will lose.&#8221;
Also Read: <a href="https://www.benzinga.com/news/24/08/40666453/scaramucci-trump-is-in-trouble-and-he-knows-it-slams-him-on-conflicting-abortion-statements-hes-shot">Scaramucci: &#8216;Trump Is In Trouble And He Knows It&#8217;, Slams Him On Conflicting Abortion Statements: &#8216;He&#8217;s Shotgunning Out Statements And Words&#8217;</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">There is more of us than there are for him. Trump will lose.
&mdash; Anthony Scaramucci (@Scaramucci) <a href="https://twitter.com/Scaramucci/status/1832184340177907844?ref_src=twsrc%5Etfw">September 6, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
<figcaption class="wp-element-caption">Scaramucci&#8217;s prediction comes amid a heated political climate, with the upcoming elections sparking widespread debate and speculation. His tweet suggests a belief in a shift in public sentiment away from Trump.</figcaption></figure>
Scaramucci was briefly White House Director of Communications under Trump&#8217;s administration. He is known for his outspokenness and has been a vocal critic of Trump since his departure from the White House.
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Why It Matters: The tweet comes at a time when Trump&#8217;s legal troubles are escalating. The former president is facing multiple lawsuits and investigations, including a criminal investigation in New York. 
Scaramucci&#8217;s prediction of Trump&#8217;s panic suggests a belief in a negative outcome for Trump in his upcoming legal battles.
While Scaramucci did not specify what loss he expects for Trump on November 5, his tweet has sparked speculation and discussion among his followers and political observers. 
The upcoming weeks will reveal whether Scaramucci&#8217;s prediction holds true.
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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.

Anthony Scaramucci: Trump Will Lose, Then 'Start Panicking' Over November Sentencing

A Food and Drug Administration (FDA) advisory panel <a href="https://www.benzinga.com/markets/cannabis/24/08/40300943/fda-rejects-mdma-for-ptsd-treatment-calls-for-more-research-on-psychedelic-therapy">overwhelmingly rejected</a> MDMA-assisted therapy for treating <a href="https://www.benzinga.com/markets/cannabis/24/08/40637513/multidisciplinary-association-for-psychedelic-studies-funds-mdma-assisted-therapy-trial-for-ptsd">post-traumatic stress disorder (PTSD).</a> in early August, citing significant concerns about the treatment and research process.
Among the primary issues were design flaws in clinical trials, the potential for MDMA abuse and uncertainties surrounding the role of accompanying psychotherapy. The panel also pointed to allegations of misconduct during the <a href="https://www.benzinga.com/markets/cannabis/24/09/40741952/shake-up-at-lykos-therapeutics-after-fda-blocks-ecstasy-based-treatment-ceo-steps-down">Lykos Therapeutics study.</a>
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For advocates of psychedelic medicine, this rejection is a major setback. April Pride, CEO and founder of SetSet, is among them. "The FDA's decision to reject the new drug application for MDMA to treat PTSD is a significant setback for the psychedelic medicine community," she told Benzinga in an exclusive interview.
"This rejection might inadvertently drive the demand for unregulated, unsafe MDMA products on the black market as patients and practitioners seek alternative means of treatment," Pride added.
<figure class="wp-block-image alignright size-large is-resized"><img loading="lazy" decoding="async" width="683" height="1024" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/06183636/April_Pride_bio_lo_res-683x1024.jpg" alt="" class="wp-image-535514" style="width:206px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/06183636/April_Pride_bio_lo_res-683x1024.jpg 683w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/06183636/April_Pride_bio_lo_res-200x300.jpg 200w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/06183636/April_Pride_bio_lo_res.jpg 720w" sizes="(max-width: 683px) 100vw, 683px" /><figcaption class="wp-element-caption">Image courtesy of April Pride.</figcaption></figure>
<h3 class="wp-block-heading">Prioritizing Safety: How SetSet Is Driving Progress In Psychedelic Harm Reduction</h3>
Pride's company, SetSet, is addressing these safety concerns head-on. Focused on providing harm-reduction education, SetSet ensures that its female members, many of whom use psychedelics outside clinical settings, have access to safe practices. 
"We know that three out of four people take psychedelics outside of a clinical setting, so to ensure safe practices, we provide harm-reduction education created by licensed healthcare practitioners," she said.
SetSet also offers transparency on testing kits, dosage instructions and therapeutic support &#8211; all aimed at reducing the risks associated with psychedelic use.
Pride noted that "one in five people have challenging experiences, and intentional, therapeutic support can help unwind thoughts and feelings."
She also pointed out that there&#8217;s a higher likelihood of difficult psychedelic experiences among women, which can be linked to hormonal fluctuations. "Female hormones are likely the reason that women are more likely to have difficult experiences, so SetSet also educates them about the optimal timing of administration to align with menstruation."
<h3 class="wp-block-heading">Urgent Call For Regulatory Reform In Psychedelic Therapy</h3>
In response to the FDA's ruling, Pride advocates for regulatory reforms, insisting that a &#8220;specialized regulatory pathway for psychedelics&#8221; is necessary, one that allows for an ongoing approval processes.
"This would enable real-world evidence collection while ensuring patient safety rather than requiring absolute certainty before approval," she explains. Pride also stressed the importance of education and certification programs for practitioners and stricter guidelines for third-party testing to protect consumers from adulterated products.
<h3 class="wp-block-heading">The Future Of Psychedelic Medicine</h3>
Despite the FDA's decision, Pride says she remains optimistic about the future of psychedelic medicine. While the FDA&#8217;s rejection might slow down the industry's momentum, Pride believes it will spur innovation. "We may see an increased focus on other promising compounds, such as psilocybin and ketamine, which have shown firm safety profiles in clinical trials," she said.
Pride also foresees efforts to improve drug formulations and safety protocols to address the FDA's concerns. "For example, one lab is working on an MDMA-like compound that mitigates the challenges of MDMA down-regulation, which speaks to the FDA's concern with neurotoxicity." 
In the long run, this setback could lead to a more resilient and well-regulated industry. As Pride explains, the industry's ability to adapt and address these challenges will be key to usher in "transformative treatments to those in need."
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FDA Rejection Of MDMA Could Fuel Black Market Demand, Warns CEO Of Women's Psychedelic Platform SetSet

Governor Gavin Newsom&#8216;s <a href="https://www.benzinga.com/markets/cannabis/24/09/40756333/gov-newsom-proposes-emergency-rules-to-severely-restrict-hemp-products-this-will-destroy-our-bus">Friday </a><a href="https://www.benzinga.com/markets/cannabis/24/09/40756333/gov-newsom-proposes-emergency-rules-to-severely-restrict-hemp-products-this-will-destroy-our-bus">announcement </a>that his administration intends to undertake emergency regulations that would ban hemp products containing any "detectable amount of total THC" sent shock waves through California&#8217;s hemp and cannabis industry. Newsom said in a <a href="https://www.gov.ca.gov/2024/09/06/governor-newsom-issues-regulations-to-protect-kids-from-dangerous-and-intoxicating-hemp-products/" target="_blank" rel="noreferrer noopener">statement</a> that the emergency rules, which include limiting sales to five servings per package and exclusively to adults over 21, were essential to protect children from &#8220;dangerous hemp and cannabis products.&#8221;
Cheech and Chong's Global Holding Company (CCGHC) joined the chorus of cannabis and hemp industry stakeholders to comment on the governor's move.
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&#8220;We understand the challenges the governor&#8217;s office is addressing, but we believe that an outright ban is unnecessary and unsupported by the facts. Our products are explicitly designed for adult use and are not targeted at children. We are committed to collaborating with the Governor to ensure the safety of all consumers, particularly minors,&#8221; said Jonathan Black, CEO of CCGHC in a statement shared with Benzinga. 
The CCGHC added that that low-dose hemp-derived THC products should be regulated similarly to alcohol and tobacco.
<a href="https://www.benzinga.com/markets/cannabis/24/05/38599614/cheech-and-chong-brand-ceo-talks-cannabis-retail-expansion-and-designs-that-resonate-with-the-le" target="_blank" rel="noreferrer noopener">Cheech and Chong&#8217;s Cannabis Company</a>, known for its stringent testing procedures that include third party-party labs results, pointed out that its products are &#8220;age-gated and marketed similarly to alcohol and tobacco to ensure that only adults have access to them.&#8221;
&#8220;Our products are developed with rigorous safety standards and thorough testing to ensure they pose no public risk. We value transparency and consumer protection and are always eager to collaborate with state regulators to foster an environment where safety and innovation coexist seamlessly,&#8221; said Brandon Harshbarger, president of CCGHC.
Ted Whitney, chief beverage officer of CCGHC said the proposed ban overlooks the preferences and rights of adult consumers, who are capable of making informed choices about hemp products.
&#8220;While we align with the Governor's office on the importance of public safety, we firmly believe that an outright ban misses the mark. Collaborative regulation, involving both the industry and state authorities, would more effectively protect public safety and uphold consumer choice,&#8221; Whitney stated. &#8220;It's disheartening that the proposed amendments and their potential to generate $210 million in tax revenue were overlooked. This oversight not only deprives Californians of a legitimate and safe market but also inadvertently benefits illicit operations.&#8221;
CCGHC noted that it would continue to advocate for regulations that support consumer choice without compromising safety.
Gov. Newsom&#8217;s proposed rules need the approval of the California Office of Administrative Law before they go into effect.
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