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3 MIN READ - CO welcomes the embarrassment of riches which is the Cautious Optimism Correspondent for Left Coast Affairs and Other Inexplicable Phenomena—with an update on the latest ballot measure insanity from San Francisco.
Enlightened and progressive San Franciscans head to the polls March 3rd to vote for 2020 primaries candidates, fill district seats on the city’s Board of Supervisors, and consider several new ballot measures.
Among the measures is Proposition D, the “Vacancy Tax” that punishes storefront property for the sin of being empty—at a rate of $250 per sidewalk-facing foot per year in the first year of vacancy, $500 per foot the next year, up to a maximum of $1,000 per foot after three years.
That’s right, a property owner whose retail storefront measures a modest 50 feet in width can be subjected to a $50,000 per year tax just for not having a tenant.
The irony of this measure is particularly cruel considering it’s San Francisco government policies that empty out retail space in the first place, chasing away small shop owners via strangling taxes and regulations.
Consider just a few of the cost inflators on doing business in the City by the Bay:
-Regulation and permit overdose. It takes up to 24 different government permit application approvals, licenses, and multiple training classes to secure permission to open one restaurant in San Francisco, at an average cost of $750,000.
-San Francisco’s voter-approved “Health Mandate” tax, adding 4% to the cost of a restaurant diner’s bill (that’s on top of the 8.5% sales tax for a total of 12.5%—all before tipping).
-2018’s voter-approved Proposition C, a 0.5% gross receipts “homelessness tax” on San Francisco large businesses. That’s 0.5% of a firm’s top-line revenues—not profits—regardless of whether the company makes money or not.
Two weeks after Prop C passed pharmaceutical distributor McKesson announced it was moving its headquarters from San Francisco to Irving, Texas, and discount broker Charles Schwab will leave for its new Westlake, Texas campus.
-2019’s 143% increase in the “Jobs-Housing Linkage business fee” which now stands at $700,000 per 10,000 square feet of office space development.
-San Francisco’s voter-approved minimum wage of $15/hour which took effect in 2018, only to be raised to $15.59/hour in 2019 (and will rise to over $16 later this year and by several percentage points every year after that).
-San Francisco’s heavily unionized workforce which benefits from California’s refusal to adopt “right to work” laws and effectively allows the imposition of compulsory “closed shops” on businesses.
-And in one of the saddest paradoxes of all, 2018’s voter-approved 3.5% tax on “commercial rents” to fund child care. Yes, a tax on the very leases the city government is now accusing landlords of insufficiently providing.
And that was just a sample.
So San Francisco voters drive small businesses to ruin by drowning them in taxes and regulations, only to castigate landlords for not filling the retail space.
As usual, Prop D supporters, local politicians, and city left-wing activists argue that it’s the “greed” of commercial landlords who refuse to rent space at moneylosing prices that causes ugly empty storefronts. Therefore the heartless capitalists must be taxed into submission until they agree to lease at lower rates that more of San Francisco’s crippled businesses can afford.
But mirroring the argument that “greed” drives higher prices of everything in California, the fallacy of this pseudo-logic is that San Francisco is a city full of proud progressives who claim to have forgone caring about greed, exploitation, and profit long ago. Yet red state cities like Dallas, Houston, Nashville, Charlotte, Kansas City, Salt Lake City, and San Antonio are overrun by evil, money-lusting, conservative businessmen donning Lord Palpatine robes and MAGA hats while dreaming from their top floor corner offices of pushing grandma off the cliff to make an extra buck.
And strangely San Francisco’s epidemic of empty retail storefronts doesn’t afflict moneygrubbing middle America.
And in the greatest callous irony of all, Prop D’s authors claim the tax proceeds will be used to subsidize and assist San Francisco small businesses—surely many of the same that they drove into the ground with crushing taxes and regulations in the first place.
Imagine that, killing off businessmen by taking their dollars with one hand, then offering to help by giving them a little of the extorted money back with the other.
Ronald Reagan foresaw the Poop City’s circular reasoning and that of Prop D’s supporters nearly forty years ago when he observed that:
“Government’s view of the economy can be summed up in a few short phrases: If it moves, tax it. If it keeps moving, regulate it. And if it stops moving, subsidize it.”
Proposition D requires a two-thirds majority to become law.
More details at Reason (below)


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Hiptop developer Danger collected another $35 million in funding, which the start-up says it will use to try to sign up new wireless carrier and hardware partners for its combination cell phone and Web-browsing handheld device.
The Palo Alto, Calif.-based company announced Monday that it has secured additional financing from Softbank Capital Partners and Meritech Capital Partners in its latest round, bringing its total so far to more than $77 million.
Danger will use the funding to grow the company so it can better handle the addition of any new cellular network customers for its flagship Hiptop device, said Hank Nothhaft, Danger's chairman and chief executive. It will also try to add hardware companies to its roster of partners, as it looks for additional ways of distributing its Hiptop software and services.
"We're concentrating on carriers, but we're also looking at alternative means of distribution," Nothhaft said in an interview with CNET News.com. He said that Danger has been exploring partnerships with consumer-electronics companies.
Danger currently has a partnership with wireless carrier T-Mobile (formerly known as VoiceStream) to distribute the Sidekick cellular device, which uses Danger's software and services. Sidekick is the brand name that T-Mobile is using to sell Hiptop, which Danger developed as a means of providing carriers with a complete package of hardware and software.
Nothhaft added that he would be "satisfied" with nabbing three carrier deals for Hiptop this year and would be "exceptionally happy" with five.
Danger, with 110 employees, has 25 percent of its previous funding available. The company believes it can be cash flow-positive and reach profitability without any more funding.
Softbank Capital Partners and Meritech Capital Partners contributed about half of the $35 million in financing announced Monday, with investors of previous rounds--Mobius Venture Capital, Redpoint Ventures and Venture Strategy Partners--making up the remainder.

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New installation business in Sweden has slowed down
One year ago, Mitsubishi acquires the Swedish company Motum. It was heard that one of the reasons for the purchase is Motum's strong position in modernisation. LIFTjournal asked Daniel Nyman about this.
He is Business Development and Procurement Manager at Motum, Chairman of the Swedish Lift Association Hissförbundet, and a member of the Board of the European Lift Association (ELA).
How has Motum's new installations business developed over the past twelve months?
Nyman: The new installation business in Sweden has slowed down significantly during the last 6 months. The prognosis from Swedish Boverket, the National Board of Housing, Building and Planning, is that there will be 50% fewer construction starts compared to previous years. This massive slowdown has been dramatic and fast. With that said the new installation business has never been the main market segment for Motum and its subsidiaries and therefore does not affect Motum in a material way.
What is the trend in modernisation – how is Motum positioned there? Photo: © Motum
Nyman: Motum is the market leader in Sweden when it comes to modernisation. This is based on the competence within Motum in this field. In Sweden there is a back-log of modernisation that should have been done already. Since modernisation makes sense both from an economic as well as an environmental perspective Motum expect that the modernisation part of the market will continue to grow while the market for full replacement will have greater challenges due to above reasons. Motum is still increasing its order stock of modernisation and does not see any trends in that decreasing at this moment.
What role did modernisation play in the purchase of Motum by Mitsubishi?
Nyman: Mitsubishi has made a strategic decision to go into the multibrand market as well as growing in Europe. In a multibrand strategy modernisation of any brand and adaptation to the existing building is key. These factors did play in, as well as Motums plan to expand in Europe which fits well into the Mitsubishi strategy of profitable growth in Europe over the coming years. Mitsubishi will continue searching for more potential acquisitions to continue the expansion in Europe.
Sustainable modernisation is becoming an issue – what role does it play at Motum?
Nyman: Motum sees the sustainable modernisation as a great opportunity where Motum can play a major part to improve the environment and at the same time helping our customers reaching a better solution solving the customer needs in a better way. Therefore, Motum will continue to promote the sustainability of modernisation in front of full replacement going forward. One way of doing that is to inform our customers through our sustainability report that we share with the customers.
Do you also offer step-by-step modernisations/partial modernisations?
Nyman: The step-by-step / partial modernisation is one of Motums unique selling points. It poses more challenges compared to full replacement and is a better for the environmental issues we face as a society. Therefore, Motum will continue working and developing this offer to the market.
It is said that modernisation is the supreme discipline for fitters – how do you find suitably qualified personnel?
Nyman: Finding qualified personnel is the biggest challenge in the industry. Motum tries to avoid recruiting from our competitors as it will only fuel a salary spin. Motum recruits broadly, supports the Swedish lift association having an education of elevator technicians and also, last year, Motum started its own Motum Academy – a trainee program helping the industry bringing more people into the industry.
The interview was conducted by Ulrike Lotze.
More information: motum.se
The Motum Sustainability Report: https://motum.se/wp-content/uploads/sites/3/2022/06/Motum-Hallbarhetsredovisning_2021_ENG_En-sida.pdf


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A new survey in the UK by battery manufacturer Energizer has found that 42 percent of 25 to 34-year-olds would like to receive a games console as a present this Christmas – the highest-ranked age group surveyed.
The figure compares to just 30 percent of 16 to 24-year-olds, reinforcing other recent studies that show the average age of video game players is considerably older than the stereotyped teenager of previous decades.
The same survey also polled the top ten most desirable gadgets for Christmas, and found the Wii was ranked the most requested at number two, behind only a high-definition television set. A laptop was ranked as the third most desirable gadget, followed by a satellite navigation system and a digital camera.
The survey results found the Nintendo DS ranked second most popular among consoles at number six, followed by the PlayStation 3 at number seven. An iPod or other MP3 player was ranked at number eight, followed by a new mobile phone and then a digital radio. The Xbox 360 and PSP were not mentioned in the list.


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RISING COSTS, DECLINING CONFIDENCE AND PROSPECTS OF RECESSION WEIGH DOWN HOPES OF BUSINESS GROWTH
The latest findings from a leading Scottish business survey by the Scottish Chambers of Commerce (SCC) shows Scottish businesses and the economy faltering under increasing cost pressures and declining business confidence. As a result, cashflow and profits are falling, investment decisions have paused, firms are raising prices and struggling to recruit and retain staff.
• PRICE RISES NOW A REALITY: 82% of all firms indicate that they intend to raise prices over the next quarter. This is a successive record high for the survey. The retail and tourism sectors had the highest proportion of firms indicating future price rises at 77% and 76% of firms respectively.
• LABOUR COSTS OVERTAKE ENERGY BILLS AS TOP COST PRESSURE: Concern over energy bills has halved since the previous quarter, attributed to the UK Government’s energy bill relief scheme which took effect from October 2022. Labour costs have now taken precedence as the leading cost pressure, cited by over seven in ten firms (72%). Concern over fuel costs and raw material prices remains high, both being cited by six in ten firms.
• INFLATION REMAINS TOP BUSINESS CONCERN: Concern from inflation has eased for a second successive quarter but remains high with 8 in 10 firms (80%) of firms citing it over Q4. The next highest concerns are interest rates (50%) which has seen nearly a 15% increase since Q3 2022.
• CONFIDENCE DECLINING: On balance, all firms have reported a fall in confidence compared to the previous quarter and a more significant fall compared to last year. On a sectoral basis, every sector reported a fall in confidence with retail and tourism seeing the largest fall when compared to the previous quarter.
Read the Report:


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The Victorian Government is expanding its High Productivity Freight Vehicle (HPFV) network, with around 3000 kilometres of road added to the pre-approved list.
Along with improving freight connections, the government is hoping the upgrades will encourage more freight operators to “invest in newer, safer and cleaner vehicles”.
“These upgrades will deliver stronger, safer and more reliable roads for the freight industry – meaning farmers and suppliers will be able to get their goods to market much more efficiently,” said Minister for Roads and Road Safety Ben Carroll.
The new networks will be published online and include key freight routes along the Bass Highway, Murray Valley Highway, Wimmera Highway and Ballarat-Maryborough Road.
“High Productivity Freight Vehicles are safer and more efficient modern vehicles that will reduce the number of truck trips needed on the network. A-doubles that meet the HPFV specifications, which include strict safety and emissions requirements, will have improved access on these routes,” the Victorian Government said in a statement.
“In addition, the government is also issuing six new A-double tanker networks to help streamline the transportation of milk and other liquids across the state. These routes have been developed with industry and tailored specifically to A-double tankers, which have different specifications and requirements to other A-doubles on the network.”
“These routes will provide more simple, safe and connected journeys for the movement of key products such as milk, grain and livestock in regional Victoria.”
Minister for Ports and Freight Melissa Horne added, “This is a win for farmers, businesses, freight operators and the community by reducing freight costs and encouraging investment in safer, cleaner and more efficient trucks.
“Improving access for High Productivity Freight Vehicle’s is vital to meeting the state’s growing freight industry needs as efficiently as possible while minimising the number of trucks trips on our road network.”


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Photo from 2018 promotional video
Members of the Professional Sales Organization (PSO) are used to going their own way.
Professor Tony Petrucci acts as a faculty advisor for the group, but day-to-day, the group functions independently. Led by an executive board of upperclassmen, the organization provides members with comprehensive sales and negotiation training—skills that anyone could develop and use in their professions.
Everything from how to exert personal influence in daily life to sophisticated B2B deal negotiations is taught and practiced, oftentimes in competitive competitions like the recent sales role-play competition, virtually hosted by The College of New Jersey (TCNJ).
“Two members of our organization placed second and third in the whole competition!” says Dane Gilmer, director of operations for PSO and a junior marketing major. “This was huge for us, considering a last-minute change the night before that informed competitors of a shortened time of individual performing from 15 minutes to 12 minutes, on top of being a first-time virtual competition for all seven participants.”
In addition to applying the skills in competitions that mimic real-world situations, PSO aims to get students, regardless of major, minor or school/college affiliation, involved and building professional networks.
“The emphasis has been that you don’t have to walk away with a sales major to be a sales representative at the end of the day,” says Gilmer. “We’ve had a variety of students from marketing, accounting and we’ve even had a neuroscience major. The skills you build are not limited to a career in sales. What we’re teaching is not just meant for this 15-minute role play. We’re trying to promote this idea of selling yourself.”
Being a member of PSO has helped students get comfortable with this type of confidence. “For me personally, when I came in freshman year, I did not really know how to talk to people in a professional sense,” says Ly’Nese Setorie, a junior marketing major with a minor in tourism and hospitality management. “One of the things that PSO has taught me through our role-plays and ‘speed sells’ (presentations) is how to be able to present yourself confidently.”
The speed sell is a 90-second ‘pitch’ about your personality and the skills you bring to a team or a workplace for an employer. Learning to deliver that sell helps people remember who you are and what differentiates you from the pack.
“I’m somebody that really likes to ramble on,” Setorie says. “So learning that and being able to talk about myself in my professional experiences in 90 seconds has been super, super helpful. I’ve used it in so many interviews. I think that’s my biggest takeaway from our tangible skills.”
The virtual format of the past two semesters has posed challenges for PSO but also created opportunities along the way, including professionals they could invite for their speaker series.
“We’ve had a good mix of industries that have been able to speak, like tech and insurance companies,” says Setorie. She also serves as the philanthropy chair at PSO. “A few weeks ago we had Tom James, who works in the fashion industry. Zoom has definitely expanded who we could invite.”
So far, the organization has had companies such as Samsung, Aflac, RLS, Mass Mutual, Complete Document Solutions, Equitable Advisors, Hajoca, Tom James, Paycom, YRCW, Granite, Insight Global, Gartner and more, speak to their members.
“To me, this group represents the best Fox has to offer—not only what we offer to students that want to be involved outside of the classroom, but also to employers looking for ‘real-world ready’ entry-level candidates,” says Meg Wherrity, associate director of employer partnerships at the Center for Student Professional Development.


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LinkedIn brings ads to mobile apps with new update
Social networking site LinkedIn has released an update to its iPhone and Android apps which offers users a personalised activity stream, improved navigation and the introduction of adverts.
Mobile is the fastest growing strand of the site with an ever increasing proportion of LinkedIn’s 200m members accessing the site from their phones, allowing the site to introduce sponsored content to people’s streams.
It is the first big update to the apps in almost two years, when the apps first launched, allowing a new more modern look to be implemented with bigger, less statically placed images and algorithms to filter information for the individual.
Improved navigation has also been implemented with the ‘in’ icon now doubling up as a notification signal for pending messages and new menu of options for accessing different functions.
Kiran Prasad, LinkedIn’s head of mobile engineering, said: “We were seeing that people are engaging a lot more on mobile, and so we wanted to make the experience more efficient. That meant moving away from an HTML5-based app and to more of a native app experience.”


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Digital marketing agency August and independent Australian publisher Pantera Press have drawn inspiration from the Buzzfeed quiz to execute a digital campaign that connects readers with Sulari Gentill’s new novel, A Murder Unmentioned.
Why does Buzzfeed appeal to us so much? This type of content marketing is successful because it is designed to be light-hearted, unconventional and reach the user personally by appearing to have an understanding of who that person is.
“With the growing role that social media plays within publishing, we are looking at different ways for people to share their online interactions in an engaging and memorable way,” says Alison Green, CEO of Pantera Press.
A Murder Unmentioned is the sixth book in the popular Rowland Sinclair mystery series set in the debaucherous 1930s. It’s a tale of scandal, betrayal, murder and intrigue as it revolves around a central premise: “Who shot Henry Sinclair?
The digital campaign brings the characters from the book to life. Readers take the ‘Who would you be in 1933’ quiz and their answers bring them to a specific section in A Murder Unmentioned. You might be a Nefarious Madame, an Adventurous Aviator or perhaps the Aussie Gatsby.
Your results direct you to a specific page in A Murder Unmentioned. Here you can find out more about the character you align to most. Characters are steeped in history and directly relate to the book. Sulari Gentill is passionate about Australian history and played an active role in helping to develop the quiz personalities. Readers are asked to share results via social media and email.
“We’re proud to be working with Pantera Press on a second digital campaign that breaks the mould of a typical book launch,” says Zoë Warne, Co-Founder of August. “Being able to connect an online experience with the physical product, A Murder Unmentioned, is all about creating engagement for the Pantera Press brand through the 1930s quiz.”
The campaign is set to run until 19 December 2014 and can be accessed here.
Twitter has just experienced its fastest growth in revenue since 2014, with the social media platform benefiting from increased interest from advertisers. Revenue was up 74 per cent YoY, according to the company’s Q2 results, reaching $US1.19 billion ($1.6 billion) from $US683.4 million ($925 million) 12 months ago. The strong results came in the same […]
Wild Turkey has announced the launch of its new global creative campaign and platform, ‘Trust Your Spirit’, featuring the brand’s creative director and spokesperson, Matthew McConaughey. The global campaign and platform ‘Trust Your Spirit’ is to encourage people to be bold, unapologetically themselves, and stay true to who they are. The global tagline and ethos […]
Telecommunications company Optus has announced it will launch the world’s first TikTok sign-language activated filter. Featuring Optus ambassador Ian Thorpe, Optus will unveil a branded effect that shows TikTok users how to say key phrases in Auslan sign language, including ‘How are you?’ and ‘It starts with Yes’, through the hashtag challenge #SignYes. Optus will […]
Podsights has revealed new insights into the effectiveness of advertising in podcasts, tracking global and Australian podcast advertising trends. This is the first Australian report to be published since ARN partnered with Podsights to set the standard for best-in-class podcast advertising measurement. The report includes additional analysis and follows a series of Measurement Masterclasses held for […]
NGEN’s 2021 charity cup has raised over $175,000 for UnLtd charity partner Gotcha4Life. Gotcha4Life is a not-for-profit foundation raising awareness and funding to provide educational workshops and innovative programs that build mental fitness in individuals and communities. While Sydney and Brisbane completed the Charity Cup in June, before Covid restrictions hit, the final leg in […]
Australian tech incubator Cicada Innovations and Biennale of Sydney are launching the ‘New & Sustainable Materials Challenge,’ in an effort to create a more sustainable future. The works of chosen material-makers will be showcased to millions of Biennale audiences, exhibition partners, and exhibition makers globally. The Challenge is open to any Australian and UK startups, […]


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The ransomware uses bitcoin as the means of payment, which like in previous versions is handled by a centralized Tor-based command-and-control server to store decryption keys, making the attackers almost impossible to trace.
Ransomware hits thousands every week, and costs users $18 million in losses, according to estimates from the FBI. Other figures suggest the Cryptowall family alone has generated about $325 million in bitcoin ransoms.
Contact Cyber Security Company LoughTec for a free no-obligation discussion on your business cyber security posture. Call +44 (0) 28 8225 2445 or email firstname.lastname@example.org.


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OSHAWA -- Things are moving in the city, as some major construction
projects are currently underway, or about to begin over the next few
months. Oshawa This Week looks at the top two projects:
- Costco -- Costco is constructing a 146,500-square-foot warehouse store at the former site of the north General Motors plant at Ritson Road and William Street. The store will include a 16-pump gas station and a parking lot with 660 parking spaces. The City has estimated the Costco will create 400 direct and indirect jobs and a two-day job fair in October for 110 positions created long lines with more than 1,000 people applying. The store is set to open at the end of November. In addition to the store, there will be a new Canada Post building on the northeast corner of the Ritson Road and Adelaide Street intersection.
- Jehovah's Witness Church -- The Harmony Heights Congregation Of Jehovah's Witnesses have a new church under construction at 1850 Wilson Rd. N., just south of Conlin Road. The church will seat approximately 450 people and have 99 parking spaces. The one-hectare site will also have minister's residence on it. The building permit for the church is valued at $2.4 million.


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Catherine, Princess of Wales launched the 'Shaping Us' campaign today and released a recorded video message to mark the new Early Years initiative.
The Royal Foundation Centre for Early Childhood also released a claymation clip to help explain the importance of focusing on early childhood.
In the video, Kate wore a green single-breasted blazer which we got a glimpse of in the 'Shaping Us' teaser clip. It is a custom suit jacket by Burberry based on the designer's wool tailored blazer (£1,550).
We also see a new gold necklace with appears to have a 'C' initial pendant. I will update the post if the pieces are identified. The hoops appear to be her Shyla Biaritz Squiggle Earrings.
SHOP KATE'S CLOSET


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How can you prevent a hack?
LOUISVILLE, Ky. (WAVE) - Those who have not yet had their online accounts hacked or their identity stolen should count themselves lucky, because every 32 seconds, a hacker attacks someone online. But there are some things they can do to fight an unseen villain, according to cyber and IT expert Jeff Birner.
Birner said no one is safe when it comes to cybercrimes.
“I think everyone needs to be more aware of the dangers of being online,” he said.
Phishing scams, internet fraud, identity theft, ransomware, and malware are all on the menu of what can be served up by hackers when they are trying to get a person’s money or information, Birner said. It’s more common than one might think.
“One of the ways these scammers or hackers get into our lives is because they send out millions and millions and millions of emails just waiting for someone to reply,” he said.
Be cautious. When a new email or text message arrives and it includes something that can be tapped or clicked, the instinct is to click. Birner said to think before hitting that link or attachment.
“A lot of times we fall victim to curiosity,” Birner said. “It could be an invoice, it could be a free tv, iPad, free phone, and you want to click on it so bad. Do not click on any website or any links or attachments that you are not expecting.”
Relatively new in the world of cybercrime is “smishing.” Birner said scammers send fake text messages to trick people into giving them their personal information — things like passwords, account numbers, or Social Security numbers. If they get that information, they could gain access to an email, bank, or other account, or they could sell that information to other scammers.
“It’s fairly new, but it is happening every single day,” Birner said. “Don’t click on the link on your phone. "
In today’s tech-dependent world, almost everyone searches or purchases something on the internet, and this can easily lead to cybercrime. The internet is full to the brim with fraudulent websites with scammers eager to gain access to a person’s personal and financial information.
“Don’t click on a website this is not verified,” Birner said.
According to Birner, the simplest way to check for a verified website is to click on the URL and look for a “HTTP” or “HTTPS” tag. “HTTPS” is a more secure protocol. Browsers such as Google will notify a user immediately if a site has been verified. If they issue a warning that the site may not be secure, heed that warning.
Hackers will also use details from old accounts to learn more about a person, Birner warned. People should take steps to regularly delete their Google search history, because the less hackers can find, the better.
“If you have an old email address that you are no longer using, whether it be from Yahoo, Gmail, Hotmail or wherever, go ahead and delete that email,” Birner said.
Turning on multi factor or two factor authentication can also help in the war against cyber-attacks. It may add an extra step or two when trying to log on, but Birner said it’s very effective in protecting online accounts. He said a password manager can also help create strong and unique passwords.
“Change passwords regularly,” Birner said. “That is a key to everyone’s safety.”
Copyright 2021 WAVE 3 News. All rights reserved.


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Your excellent bets for a deal in the new year
Do you discover yourself trying to find the cheapest matters within the global yet keep running into useless ends? Inflation has made pretty much the whole lot more costly these days. In truth, Consumer Price Index (CPI) records from September 2022 showed that prices in all most important categories rose a whopping eight.2% in only 12 months. And expenses that appeared to remain steady had been additionally an phantasm, because of a phenomenon called shrinkflation. In 2022, human beings attempted all sorts of budgeting hints, locating innovative ways to shop cash on gasoline and learning the best time to shop for something, and a few may also have even bought reasonably priced gadgets that ended up costing greater. What will 2023 preserve?
“The CPI will retain to upward thrust but at a slower fee,” says Sung Won Sohn, PhD, professor of finance and economics at Loyola Marymount University. “And with the financial system honestly slowing, call for is softening. When call for softens, that generally means lower fees.” Combine this information with the truth that many retailers are caught with greater inventory, and clients can count on to attain a few excellent deals.
We spoke with monetary specialists to find you silver linings and potential possibilities for savings in 2023. While some listing fees won’t be extensively lower, there are lots of methods to be savvy and locate merchandise and offerings that cost less, in the long run assisting you hold extra cash to your pockets.
The fee of latest cars has been soaring due to an ongoing semiconductor microchip shortage, as well as elevated costs for uncooked substances. In america, the common fee of a brand new car turned into up 6.3% within the ultimate 12 months, in step with a current document from J.P. Morgan. But now, there’s eventually a few remedy in sight.”With interest quotes growing and inflation crushing the common consumer, automobile fees ought to come down,” says Dave Anderson, founder of BMOGAM Viewpoints. “Dealers don’t really own the motors—they get massive loans from the banks to shop for their inventory. The longer a automobile sits on their lot, the more they must pay in hobby to the financial institution. Many dealers are nonetheless resisting lowering costs to satisfy the new market realities, however this can exchange.”
New car fees are anticipated to remain high through the stop of 2022, however J.P. Morgan expects them to say no by using 2.5% to five% in 2023. Translation: If you can wait until the new 12 months, with the intention to be the quality time to shop for a vehicle.
Financial professionals anticipate the charge of used automobiles to be less expensive for 2023 too. During the pandemic, the supply-chain issues that made it hard to get new automobiles additionally extended the demand for used motors—and extended their expenses. Consumers ought to have the funds for those prices too, because of a flush of stimulus cash they had received.
“However, with supply chains normalizing and car financing becoming greater costly due to better interest charges, those favorable supply/demand dynamics have long past into opposite,” explains Harry Turner, founding father of The Sovereign Investor. “As a end result, this may bring down used-automobile costs from their cutting-edge inflated degrees.” According to J.P. Morgan’s research, count on to look those expenses decline by way of 10% to twenty%.
Since the economic system is slowing, Americans are shopping for less. There is also the looming threat of recession and rising credit card debt pinching humans’s wallet. Stores together with Target, Gap, Abercrombie & Fitch, American Eagle and Kohl’s are also underneath strain to get rid of the excess products they accrued in the first 1/2 of the year, according to CNBC. As a end result, experts say that customers can assume to peer fees slashed on apparel through sales and promotions inside the new 12 months. Pro tip: Maximize your financial savings through studying the great time to shop for garments every season.
Like so many different gadgets throughout the pandemic, appliances were laid low with deliver-chain issues, which drove up pricing and, sooner or later, availability. Plus, with everyone staying home—and focusing on their houses—there was an increased call for for the whole thing from washers and dryers to refrigerators. “Now, retail stores are caught with an excessive amount of stock, and as a result, they are jogging income,” explains Sohn.
We’ve already commenced seeing some charge cuts over the previous couple of months, but those reductions will get even steeper in 2023, say professionals. While inflation hit all industries, home equipment have not been affected as lots as different massive-price ticket gadgets like home windows, doors, kitchen cabinets, countertops and floors. That way it will likely be a excellent time to buy appliances very soon.
“TVs have been approximately as low as they may be for numerous years now, however you can more and more get higher-end fashions in larger sizes for lower fees,” says Stan Horaczek, government gear editor in price of commerce for Popular Science. “It’s not out of the query to get a 55-inch TV for $300 or much less without a buying excursion like Black Friday.” Experts count on this fashion to maintain in 2023, because of deliver-chain bottlenecks clearing up, excess stock taking over area in warehouses, customer spending tightening, and newer and better fashions being released in document time. Consumers seeking out even steeper reductions on TVs can also opt for older models.
Nonessential gadgets at massive-container stores
People are converting the way they technique shopping. That’s in part because of inflation and in part due to converting life as extra people go back to the workplace and our prepandemic sports. Case in point: That fireplace pit may additionally have appeared crucial when we have been cooped up at domestic for months on cease, however now, our purchasing priorities can also lie some place else.
Stores like Target have specifically named outside fixtures and fitness resources as a number of the nonessential surplus they’re seeking to control … And flow out the door. In reality, we’re already seeing some of those price cuts, from energy-education device at Target to patio sets at Walmart. Big-container outlets also are looking to sell their inventory of indoor furniture, organizing merchandise and kitchen gadgets over the following couple of months.
Yes, they make lifestyles a lot easier, however whilst cash is tight, are you willing to shell out the more money for something you may in reality do your self? Probably no longer … Unless the fees come down to a point wherein you certainly can not say no. That might be the case for convenience offerings like Uber Eats, GrubHub, Waitr and Door Dash, which have already seen sales decline, in keeping with the Wall Street Journal.
This demand slowdown will translate to first rate offers and promotions, as well as decrease costs related to convenience services, predicts Forrest McCall, proprietor of the website online Don’t Work Another Day. “With increasing competition and a softening demand due to inflation,” he explains, “this will positioned downward strain on costs for these [services].” Looking to keep extra of your difficult-earned cash for your financial institution account? Here are greater effortless ways to save cash.
Remember for the duration of the early part of the pandemic while bicycle riding surged in popularity? Fewer vehicles on the street, lots greater hours working from home and the threat to interact in an pastime that became deemed “COVID secure” made call for for motorcycles skyrocket.
“People wanted an outlet for each their physical and intellectual fitness. Bikes have been difficult to discover, and highly-priced,” notes Emily G. Irwin, coping with director at Wells Fargo Wealth & Investment Management. “Now, as people get returned into their prepandemic routines and conduct, there may be an possibility to snag a used or barely used bike for a bargain, or maybe a new motorbike on sale.”
Your profits taxes might cost less in 2023, because of the newly exceeded Inflation Reduction Act. “The IRS has adjusted each the tax tables and the brackets that inflict the maximum ache on the average taxpayer by means of deliberating that inflation pushes taxpayers into better tax brackets even when there has been no betterment in their economic state of affairs,” says Howard Chernoff, president of TaxLaw Inc. This ought to suggest you’ll pay a lower tax fee, relying on your profits.
The popular deduction for 2023, which is used to assist lower taxable income, may even boom for 2023. Single filers had a preferred deduction of $12,950 for 2022, but in 2023, it is going to be $13,850. For married couples filing together, the deduction will boom from $25,900 to $27,seven-hundred.
You may see extra income-tax savings if you are a property owner who purchases energy-saving domestic improvements or an electric powered car. Homeowner tax credit will enlarge to sun tasks, energy-efficient water heaters, heat pumps and HVAC systems. Furthering the inexperienced time table, tax credit for purchasing a new or used electric powered car had been prolonged some other 10 years, until December 2032.
Close up of a person palm protecting and counting American greenback banknotes in her hand.
Close up of someone hands preserving and counting American dollar banknotes in her hand.
Your great bets for a deal within the new year
Do you locate yourself attempting to find the cheapest matters inside the global but keep walking into lifeless ends? Inflation has made just about the whole thing extra costly currently. In reality, Consumer Price Index (CPI) statistics from September 2022 showed that costs in all foremost categories rose a whopping 8.2% in only three hundred and sixty five days. And charges that seemed to remain steady were additionally an illusion, due to a phenomenon called shrinkflation. In 2022, human beings attempted all types of budgeting hints, locating innovative ways to keep cash on gasoline and learning the quality time to buy anything, and a few may also have even bought reasonably-priced items that ended up costing extra. What will 2023 hold?
“The CPI will preserve to upward thrust however at a slower price,” says Sung Won Sohn, PhD, professor of finance and economics at Loyola Marymount University. “And with the economic system definitely slowing, call for is softening. When demand softens, that generally approach lower charges.” Combine this information with the truth that many retailers are caught with extra stock, and clients can assume to score a few incredible offers.
We spoke with monetary professionals to locate you silver linings and capability possibilities for savings in 2023. While some listing charges may not be significantly lower, there are lots of methods to be savvy and locate products and offerings that price much less, in the long run supporting you keep extra coins in your wallet.
Get Reader’s Digest’s Read Up publication for extra saving pointers, humor, cleaning, tour, tech and amusing statistics all week long.
Line of latest compact vehicles at dealership.
Line of recent compact vehicles at dealership.
The charge of new vehicles has been hovering because of an ongoing semiconductor microchip shortage, in addition to multiplied prices for uncooked substances. In the USA, the average charge of a new car was up 6.3% in the remaining yr, consistent with a latest report from J.P. Morgan. But now, there may be finally some remedy in sight.
America Loves These Balance Transfer Credit Cards
America Loves These Balance Transfer Credit Cards
“With hobby rates growing and inflation crushing the common customer, automobile expenses have to come down,” says Dave Anderson, founder of BMOGAM Viewpoints. “Dealers don’t in reality very own the vehicles—they get massive loans from the banks to buy their stock. The longer a automobile sits on their lot, the greater they should pay in hobby to the financial institution. Many sellers are nevertheless resisting decreasing expenses to fulfill the new market realities, however this may trade.”
New automobile expenses are expected to stay excessive via the quit of 2022, but J.P. Morgan expects them to say no by 2.5% to five% in 2023. Translation: If you could wait till the new yr, in order to be the excellent time to shop for a automobile.
Cars in the car parking zone
vehicles inside the automobile parking space
Financial professionals anticipate the rate of used cars to be less expensive for 2023 too. During the pandemic, the supply-chain issues that made it hard to get new motors also improved the call for for used cars—and increased their costs. Consumers should have the funds for the ones fees too, because of a flush of stimulus coins that they had acquired.
“However, with supply chains normalizing and vehicle financing becoming extra high priced due to better interest rates, those favorable deliver/call for dynamics have long gone into opposite,” explains Harry Turner, founder of The Sovereign Investor. “As a result, this could bring down used-automobile expenses from their current inflated levels.” According to J.P. Morgan’s research, count on to look the ones costs decline by way of 10% to 20%.
Woman deciding on a brand new fashion for herself
Woman choosing a new fashion for herself
Since the economy is slowing, Americans are buying less. There is likewise the looming chance of recession and rising credit score card debt pinching people’s pockets. Stores including Target, Gap, Abercrombie & Fitch, American Eagle and Kohl’s also are under pressure to put off the excess merchandise they gathered in the first 1/2 of the 12 months, consistent with CNBC. As a result, professionals say that consumers can count on to see fees slashed on clothing via income and promotions inside the new year. Pro tip: Maximize your financial savings via getting to know the best time to buy clothes each season.
A female chooses a the front-established washing device in a home appliance shop
a female chooses a front-mounted washing device in a domestic equipment keep
Like so many different gadgets at some point of the pandemic, home equipment were suffering from supply-chain troubles, which drove up pricing and, subsequently, availability. Plus, with every person staying domestic—and focusing on their homes—there was an multiplied call for for the whole thing from washers and dryers to fridges. “Now, retail shops are caught with an excessive amount of inventory, and as a end result, they may be running sales,” explains Sohn.
We’ve already began seeing a few rate cuts over the last few months, but the ones discounts gets even steeper in 2023, say professionals. While inflation hit all industries, home equipment haven’t been affected as a great deal as other massive-ticket items like home windows, doorways, kitchen shelves, counter tops and floors. That way it will likely be a excellent time to buy appliances very quickly.
Choice of Samsung TVs at a store
choice of Samsung TVs at a shop
“TVs had been about as low as they can be for numerous years now, but you could more and more get better-give up fashions in bigger sizes for lower charges,” says Stan Horaczek, executive tools editor in charge of commerce for Popular Science. “It’s now not out of the query to get a 55-inch TV for $300 or much less without a buying excursion like Black Friday.” Experts expect this trend to continue in 2023, because of supply-chain bottlenecks clearing up, extra inventory taking over space in warehouses, client spending tightening, and newer and higher fashions being released in file time. Consumers seeking out even steeper reductions on TVs also can choose older fashions.
Large terrace patio with rattan garden furnishings in the garden on wood ground.
Large terrace patio with rattan garden furniture inside the lawn on wooden floor.
Nonessential gadgets at huge-box shops
People are converting the manner they method shopping. That’s partly due to inflation and partially because of converting life as extra of us return to the office and our prepandemic activities. Case in factor: That fire pit might also have seemed critical while we have been cooped up at home for months on stop, however now, our buying priorities can also lie some place else.
Stores like Target have especially named outdoor furnishings and health materials as some of the nonessential surplus they are trying to manipulate … And pass out the door. In fact, we are already seeing some of these price cuts, from electricity-education gadget at Target to patio units at Walmart. Big-container stores are also trying to sell their inventory of indoor fixtures, organizing products and kitchen devices over the next few months.
Uber eats man on a motorcycle
Uber eats guy on a bike
Yes, they make existence a lot simpler, however when cash is tight, are you willing to shell out the extra money for some thing you could really do your self? Probably not … Until the costs come down to a degree in which you simply can’t say no. That could be the case for comfort offerings like Uber Eats, GrubHub, Waitr and Door Dash, that have already seen sales decline, in keeping with the Wall Street Journal.
This call for slowdown will translate to superb offers and promotions, as well as decrease fees related to comfort services, predicts Forrest McCall, owner of the site Don’t Work Another Day. “With increasing competition and a softening demand due to inflation,” he explains, “this could positioned downward pressure on costs for those [services].” Looking to maintain greater of your hard-earned coins in your bank account? Here are more convenient ways to save money.
Many bicycles in sports activities shop, seasonal sale
Many bicycles in sports activities shop, seasonal sale
Remember at some stage in the early part of the pandemic while bicycle driving surged in recognition? Fewer cars on the road, masses greater hours working from home and the chance to interact in an activity that turned into deemed “COVID secure” made call for for bikes skyrocket.
“People needed an outlet for both their bodily and mental fitness. Bikes have been difficult to locate, and expensive,” notes Emily G. Irwin, coping with director at Wells Fargo Wealth & Investment Management. “Now, as humans get returned into their prepandemic workouts and behavior, there may be an possibility to snag a used or barely used bike for a bargain, or even a new motorcycle on sale.”
person doing their profits taxes at a desk with plenty of papers and a laptop
man or woman doing their earnings taxes at a table with plenty of papers and a pc
Your profits taxes may cost a little less in 2023, because of the newly exceeded Inflation Reduction Act. “The IRS has adjusted both the tax tables and the brackets that inflict the maximum ache at the average taxpayer through considering that inflation pushes taxpayers into higher tax brackets even when there has been no betterment in their economic state of affairs,” says Howard Chernoff, president of TaxLaw Inc. This should mean you will pay a lower tax rate, relying in your income.
The widespread deduction for 2023, that is used to help decrease taxable income, will even increase for 2023. Single filers had a trendy deduction of $12,950 for 2022, however in 2023, it will likely be $thirteen,850. For married couples filing at the same time, the deduction will increase from $25,900 to $27,seven-hundred.
You may additionally see extra earnings-tax financial savings in case you are a owner of a house who purchases power-saving domestic upgrades or an electric automobile. Homeowner tax credits will expand to solar initiatives, electricity-green water heaters, warmth pumps and HVAC structures. Furthering the inexperienced timetable, tax credits for buying a brand new or used electric powered vehicle had been extended another 10 years, till December 2032.
In addition, beginning in 2023, adult vaccines for shingles and tetanus-diphtheria-whooping cough vaccines might not incur any out-of-pocket expenses. Finally, drug producers may be required to pay rebates to Medicare for positive capsules that boom in rate quicker than inflation. This rebate law may also assist keep prices steadier and reduce surprising sticky label surprise, making this superb information for financial savings in 2023 in case you’re on Medicare.


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Nine years after exiting the segment, GM revealed the all-new 2019 Chevrolet Silverado 4500HD, 5500HD, and 6500HD chassis cabs at NTEA’s The Work Truck Show 2018. Along with GM’s launch of its medium-duty Chevrolet Low Cab Forward models in 2016, the automaker has once again committed fully to the medium-duty segment.
Production of the new Silverados is slated for the tail end of the calendar year, meaning dealers and customers won’t start seeing them until the first quarter of 2019. By all accounts, they can’t come soon enough.
“People have been waiting in line asking for this truck,” says Tony Uebelhor of Uebelhor & Sons, a Chevrolet dealer in Jasper, Ind. “We have been getting a lot of pent-up demand for the past 15 years.”
Rightsized and Refined
The dealers Business Fleet spoke to say the new medium duties boast an unexpected level of comfort, accessibility, and maneuverability from Class 4, 5, and 6 trucks — a plus for businesses with small fleets and crossover use.
The new truck uses the familiar light-duty Silverado cab and will benefit from its consumer-designed appointments that include new technology such as Wi-Fi hotspots and updates to OnStar.
“The old truck couldn’t be used as a family vehicle; it was too tall,” says Randy Marion of Randy Marion Chevrolet. Marion says that the truck’s lower frame and cab height combined with a crew cab and pickup bed will provide “a retail truck with a ton of content.”
“The key here is that the truck will do the job, but it’s pretty much like driving a pickup,” Uebelhor says.
Unlike the light-duty Silverado, the medium duty has a new design feature, the tilt-forward clamshell hood, which makes the engine and its components more accessible for servicing.
“GM got the dealers involved and found out what was important to them,” says Brad Sigmon, vice president of Marion Chevrolet. “We didn’t need that big of a truck; we needed one that could do the work, so they made it lighter and gave that payload back.”
The reveal of the new 6500HD model, with a GVW of 22,900 lbs., was an unexpected surprise at The Work Truck Show. Some fleets need a Class 6 because “they’re running out of GVW,” according to John Schwegman, director of commercial product for GM.
He offers the example of energy utility fleets using bucket trucks. They’re buying a competitor’s Class 5 truck — but to save weight, they’re using an aluminum body at a substantial incremental cost.
“They can get the easier step-in height of our 6500HD, along with a smaller cab and more maneuverability, and save that $5,000 to $6,000 for a steel body bucket truck,” Schwegman says.
Other industries are warming to the higher GVWs.
For towing companies, the move away from hook and chain to rollback (flatbed) wreckers necessitates a higher GVW, says Clay Traylor, vice president of northeast sales for Miller Industries Towing Equipment Inc., a tow body manufacturer in Ooltewah, Tenn.
“We have some 3500HDs but they’re too light,” he says. “I hoped Chevy would come back into the Class 5 chassis size.”
The Silverado HD models are powered by a Duramax 6.6L turbodiesel V8 engine paired with an Allison transmission, a partnership carried over from the previous generation.
“There are customers who have been waiting just as long as we (dealers) have because they want that powertrain back,” Marion says. “The Allison is the gold standard for automatic transmissions, and so is the Duramax for diesel engines.”
The new truck’s chassis has straight frame rails, so it’s easy to drop a range of body types on it, according to Schwegman.
As part of The Work Truck Show reveal, GM sent a regular cab 6500HD to Monroe Truck Equipment to design a dump body, thinking it would take Monroe considerable time to complete. Monroe had the upfit ready in three days.
“That was a telltale sign that we made it as simple as possible to put bodies on this vehicle,” Schwegman says.
Although it’s been almost 10 years since Chevrolet exited medium duty, Sigmon doesn’t think it will be a problem to rebuild partnerships with Randy Marion Chevrolet’s old upfit vendors.
“They never got out of the business, so we’re bringing additional business to them,” he says. “It’s going to be easy because the body manufacturers will be able to put the upfits right on these trucks.”
Chevrolet’s re-entry into medium duty officially began when it launched the Low Cab Forward models. Last March, the manufacturer enrolled additional existing GM dealers to sell Low Cab Forwards and Classes 4, 5, and 6.
“For us, GM re-entered the medium-duty market for the ability to be a one-stop shop,” Uebelhor says. “Right now, we can sell you a passenger car, ½-ton or ¾-ton; however, those who want to go to the higher end of the GVW spectrum have to go somewhere else. We’ll now be able to take care of all fleet and small business needs right here.”
To meet the demand for dealer support, GM has created a “commercial college” to ensure its dealer network understands the product, upfit process, and customers. The idea is to educate them and sharpen their skills on how to interact with the trucks, compare their products to the competition, and learn how to fulfill the needs of commercial customers.
Many fleets also run light-duty pickups and cars for their sales reps, so adjacent sales are an important part of the decision to re-enter the medium-duty market and carry the full line of product, according to Keith McCluskey of McCluskey Chevrolet in Cincinnati.
Customers don’t want to have to go to two or three different sources, and up until the new medium duty truck’s debut, they were unable to be a one-stop shop. Randy Marion Chevrolet currently sells about 5,000 commercial units per year, and projects to exceed 7,500 in 2019 with the addition of medium-duty and low cab forward units in 2019.
Despite all the excitement, the truck is not for all GM dealers, Schwegman cautions. Instead, it is intended for those committed to the commercial business and its demanding customer base that requires spec’ing expertise and quick service.
McCluskey Chevrolet has built a 55,000-sq.-ft. facility with a drive-through truck wash and bays 35 feet deep with 14-foot doors. The dealership remains open seven days a week until 3 a.m. and a half-hour early for commercial accounts.
“These guys want to make money during the day,” McCluskey says. “They can drop off the trucks (at night) and we’ll do the preventive maintenance and have everything ready for work the next day. We get them back on the road and to the job site, which means extra business for them.”
For Traylor, it’s crucial to have adequate service support from dealers to minimize downtime if a unit breaks down. With Miller Industries’ specialized bodies, “When one of our trucks goes down, you can’t go to Ryder or U-Haul and rent another one,” he says. “It’s down and it’s lost revenue.”
Winning Back Customers
As chairman of the commercial dealer council before GM exited the medium-duty market, Marion says his dealership’s No. 1 issue was filling the black hole that was created by the lack of a Class 4 to 6 truck. It cost dealers incremental business; not only the business lost by not having a medium duty, but also the relationships with the companies that needed them.
“They went to our competitors,” Marion says.
Nonetheless, there are plenty of pre-2009 GM medium duties on the road. Schwegman says the previous generation — named Chevrolet Kodiak and GMC TopKick — still hold historically high resale values.
“Folks say those trucks are fantastic; they’re not getting rid of them,” Schwegman says. “When we announced we were getting back in about a year and a half ago, they said, ‘good, I don’t have to make a decision. I’m going to wait.’”
Schwegman understands the challenge that lies ahead in reclaiming the business of those customers who went elsewhere to fulfill their medium-duty needs.
“We have to earn back every customer one by one,” he says. “We need a solid network of more than 400 dealers who are trained and ready. Presenting what we think is a great value story with this truck is going to be key. Our dealers will play a big role, especially on the small business side.”


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McLean, VA – June 6, 2023 – The Direct Selling Self-Regulatory Council (DSSRC) of BBB National Programs has referred direct selling company Wayal Health Sciences USA, Inc. to the Federal Trade Commission (FTC) for possible enforcement action. The referral comes after Wayal Health failed to respond to a DSSRC inquiry into aggressive health-related product performance claims made on social media by the company and its salesforce members.
DSSRC is an independent national advertising self-regulation program that monitors advertising and marketing claims in the direct selling industry. Wayal Health is a multi-level direct selling company that markets health and wellness nutritional supplements.
At issue are social media earnings claims indicating that Wayal Health products can treat a series of health-related conditions, such as memory loss, Alzheimers, skin cancer, and ADHD.
DSSRC expressed its concern that such claims not only require substantiation, but in the case of health-related claims, that substantiation must come in the form of competent and reliable scientific evidence.
After multiple attempts, Wayal Health has failed to respond to DSSRC’s inquiry and, pursuant to DSSRC Policies and Procedures, has now been referred to the FTC for possible enforcement action.
About BBB National Programs: BBB National Programs, a non-profit organization, is the home of U.S. independent industry self-regulation, currently operating more than a dozen globally recognized programs that have been helping enhance consumer trust in business for more than 50 years. These programs provide third-party accountability and dispute resolution services that address existing and emerging industry issues, create a fairer playing field for businesses, and a better experience for consumers. BBB National Programs continues to evolve its work and grow its impact by providing business guidance and fostering best practices in arenas such as advertising, child-and-teen-directed marketing, data privacy, dispute resolution, automobile warranty, technology, and emerging areas. To learn more, visit bbbprograms.org.
About the Direct Selling Self-Regulatory Council: The Direct Selling Self-Regulatory Council (DSSRC), a division of BBB National Programs, provides independent, impartial monitoring, dispute resolution, and enforcement of false product claims and income representations made by direct selling companies and their salesforce members across digital platforms. The DSSRC seeks to establish high standards of integrity and business ethics for all direct selling companies in the marketplace.


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Apple Inc. (Nasdaq: AAPL) Chief Executive Officer Tim Cook said that television is an area of “intense focus” for the company as it seeks to add products that can build on the success of Macs, iPhones and iPads.
“This is an area of intense focus for us,” Cook said of TV in an on-stage interview yesterday at the D10 conference in Rancho Palos Verdes, California. “We’re going to keep pulling this string and see where it takes us.”
Apple co-founder Steve Jobs, before he died last year, told his biographer that he had “finally cracked” how to build a TV with a simple user interface that would wirelessly synchronize content with Apple’s other devices. The company is working on a television that may be unveiled this year and released in 2013, according to Gene Munster, an analyst at Piper Jaffray Cos.
Apple turned to Jeff Robin, the software engineer who built the iTunes media store and helped create the iPod, to lead its development of a TV set, people with knowledge of the product said last year.
The company sells a set-top box called Apple TV that lets customers stream video from Apple products or the Internet to their TVs. Still, that device has yet to gain wide acceptance, and Apple executives have called it a “hobby.”
During the conference, put on by the AllThingsD technology blog, Cook said that Apple has “great appreciation” for Facebook Inc., the largest social-networking service.
“The relationship is very solid,” he said. “We have great respect for them. I think we can do more with them. Stay tuned on this one.”
In the wide-ranging interview, Cook also said that Apple remains on the lookout for acquisitions, though it’s not currently seeking a large-sized deal. He also said that it’s possible that more manufacturing of his company’s products will happen in the U.S. The iPhone, Apple’s best-selling device, might one day be assembled in the U.S., he said.
Much of the manufacturing and assembly of Apple products takes place in factories in Asia, which have come under criticism for treatment of workers. Cook said yesterday that the company is moving toward greater transparency in areas such as supplier responsibility and environmental sustainability.
Even as the company discloses more in those areas, it will redouble efforts to keep products under wraps while they are still under development, Cook said.
Responding to criticism that Apple’s Siri voice- recognition service has functioned improperly for some users, Cook said Apple is working to improve the technology.
“There’s more that it can do, and we have a lot of people working on this, and I think you’ll be really pleased with some of the things that you’ll see over the coming months,” Cook said.
Cook also said that the company’s iAd online advertising effort wasn’t essential to Apple’s future, which would remain centered on hardware.
“When I was talking about the things at Apple that make up the four legs of the stool, I didn’t mention that one,” Cook said, referring to Macs, iPods, iPhones and iPads.
Before becoming CEO last year, Cook was Apple’s chief operating officer, leading the company’s vast supply chain. He joined the company in 1998 from Compaq Computer Corp. and was instrumental in managing the operational side of Apple’s business while long-time CEO Jobs concentrated on product development and marketing.
The company’s gross margins of 47 percent last quarter are more than double those of rivals Hewlett-Packard Co. and Dell Inc.
New iPhone Possible This Fall
The interview comes ahead of Apple’s annual Worldwide Developers Conference. The company is slated to unveil a new line-up of Mac laptops, as well as show off new features for the latest mobile operating system that powers the iPad and iPhone, people with knowledge of the matter have said.
A new iPhone, which accounts for more than half the company’s sales, is expected to be unveiled by October, according to analysts, including Munster.
Cook also spent part of the interview reflecting on Jobs, who recruited him from Compaq when he had no intention of leaving the rival computer maker. After ignoring numerous calls from executive recruiters working on behalf of Apple, Cook agreed to meet with Jobs on a Saturday morning, he said.
Jobs discussed his vision for iMac computers and sold him on the company’s ambitious plans to sell to consumers, he said.
“Five minutes into the conversation, I wanted to join Apple,” Cook said. “He painted a story, a strategy, that he was taking Apple deep into consumer at a time when I knew that other people were doing the exact opposite. And I’ve never thought following the herd was a good strategy.”
“I went back and resigned immediately,” he said.


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Instagram co-founder Mike Krieger and his wife Kaitlyn just launched a site that lets you see all the local restaurants that are selling gift cards to help them survive the current social-distancing lockdown.
The site is called SaveOurFaves, and it's a directory of Bay Area restaurants selling gift certificates and gift cards — searchable by name or neighborhood, and covering the East Bay, South Bay, Marin, and San Francisco for the moment. It's likely to expand quickly, and Krieger tells TechCrunch that they had 700 restaurants sign up so far, with about 50 email requests coming in per day.
Krieger's sister's partner is a co-owner of The Snug in San Francisco, and the Kriegers were inspired to launch SaveOurFaves after a conversation with him. And the site is similar to another that sprang up this week on the national level called Rally For Restaurants.
"I’ve lived in the Bay Area for over 15 years, and one of the reasons I fell in love with it was the vibrant community of shops, restaurants, cafés, and other businesses," Krieger tells TechCrunch. "It’s been heart-wrenching to see the immediate effect that the shutdown has had on the people working at these places."
SFist has heard from dozens of local restaurants since posting our running list of places that are staying open for takeout and delivery, but such models don't work for many restaurants, especially in the fine dining realm. The coming weeks are likely to be filled with a lot of wrenching stories, and thousands of service-industry workers have already been laid off in San Francisco in just the last few days.
On the plus side, the SF Board of Supervisors is mulling a moratorium on all small-business evictions, to help get through a difficult few months.
One of the bigger stories to bubble up this week was when the Delfina Restaurant Group had to lay off 90 percent of its 300-person workforce and temporarily close two beloved Mission restaurants, Delfina and Locanda — with the fate of both up in the air, but Locanda sounds likely closed for good.
Nightclubs are a different story, and many aren't accustomed to selling gift cards — let alone trying to keep their staffs from going hungry. Members of the LGBTQ nightlife community have launched a fund, the Queer Nightlife Fund, to provide some initial and ongoing support for performers and service-industry workers affected by the shutdown of the city's bars and clubs.
Similarly, the nightclub Public Works has launched a staff support fund to raise a few dollars to help its out-of-work staff members.
The Stud has launched a GoFundMe campaign to "tip our staff," with a currently modest $15,000 goal.
Oasis, in SoMa, has launched its own crowdfunding campaign on IndieGogo with perks to go with donations including VIP seating at an upcoming cabaret show, or a VIP lounge rental for a private gathering at the club at some future time.
"These are tough times for everyone and most importantly, we ask nothing but for each of you to stay afloat yourselves and stay mentally and physically healthy," writes co-owner D'Arcy Drollinger. "But if you’re able, your financial help to pay for our bills is appreciated during a tough period where we have no income."
So, give now and give often! You're stuck inside and likely spending far less on food and drinks the next few weeks, so if you're still employed, you can think of it as your civic and humanitarian duty to help keep your favorite businesses afloat.
Photo: Josh Wilburne


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China’s market for new energy vehicles (NEVs), comprising mainly electric and hybrid-powered vehicles, surged by 157% to a record 3,521,000 units in 2021, according to passenger car and commercial vehicle wholesale data released by the China Association of Automobile Manufacturers (CAAM).
This was a significant achievement considering the widespread disruption to the global automotive supply chain caused by the covid pandemic, with acute shortages of semiconductors in particular forcing leading automakers to significantly cut back production last year. The Chinese government also cut subsidies on NEVs by 20% at the beginning of last year, creating additional headwinds.
Sales of battery-powered electric vehicles (BEVs) increased by 161% to 2,916,000 units in 2021, making China by far the world’s largest single market for these vehicles, while sales of hybrid vehicle rose by 141% to 605,000 units. Together they accounted for all of the automotive market’s near 4% growth last year, while sales of conventional internal combustion engine (ICE) vehicles fell by over 5% to 23.9 million units – according to the association’s data. This includes a 4% decline in deliveries of ICE passenger vehicles to 18,148,000 units and an 8% drop in ICE commercial vehicles to 4,607,000 units.
2021 was the fourth consecutive year of decline for ICE vehicle sales in China and it looks like this trend will continue uninterrupted, as NEVs claim an increasingly large share of the local market. For ICE vehicle sales in China, terminal decline is already well underway.
NEV sales accounted for more than 13% of total vehicle sales last year, up from just over 5% in 2020, and the government recently lifted its target to 40% of total sales by 2030 and 60% by 2035 – before ICE vehicles are phased out altogether from the market in the following decade.
The government cut NEV incentives by a further 30% at the beginning of 2022 and confirmed it will phase them out altogether at the end of the year. It is banking on significant pent-up demand in the short term, while rising volumes are also expected to bring down the cost of production significantly in the medium term.
By 2035, more than 20 million NEVs are likely to be sold annually in China, which will likely be mostly BEVs and hydrogen fuel cell EVs (FCEVs). This means massive upheaval for the industry, with both domestic manufacturers and foreign joint ventures investing heavily to make the switch to zero-emission technologies.
EV manufacturer performances
The country’s leading NEV manufacturer last year was BYD Auto, with sales of 593,745 units – including exports. BEV sales increased by 145% to 320,810 units while hybrid sales were up by 456% at 272,935 units. Its best-selling BEV model was the Qin, with 187,227 local sales, followed by the Han with 117,323 units.
SAIC-GM-Wuling also contributed significantly to the growth of China’s EV market last year, with sales of the Hong Guang mini EV range rising by over 250% to 395,4512 units, making it by far the country’s best-selling EV model. Total EV sales came in at around 426,000 units last year.
Local reports suggest Tesla produced 484,000 vehicles at its Shanghai Gigafactory last year, or more than half of the company’s global output, around 320,000 of which were destined for the local market. The plant produced 70,602 vehicles in December alone, giving it a theoretic annual production capacity without stoppages of close to 850,000 units. The company’s best-selling model in China last year was the Model 3 with a reported 150,890 sales, although this looks to be significantly understated given the above data.
Xpeng reported a 263% rise in EV sales to 98,155 units in 2021, including 61,000 P7 models. Nio’s sales more than doubled to 91,429 vehicles, split between the ES8, ES6 and EC6 models.
Other key EV models last year include the Chery eQ with 77,000 sales; the Chang’an Benben EV 76,000 sales; GAC Group’s Aion 74,000 units; Ora Black Car 63,000 units and Good Cat 50,000 units.


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Start the conversation
Twitter stock, already beaten down from a high of $74 in December to about $45 in this year's tech swoon, briefly slumped below $30 last week before recovering somewhat. TWTR closed Monday at $33.94, up about 6%.
Twitter beat expectations on revenue, but posted another loss and sent investors to the exits with news that its active user base of 255 million grew by only 25%. That's down from 30% in the previous quarter and is the fifth straight quarter that metric has dropped.
Critics saw the slowing growth as a sign Twitter would struggle to make money going forward.
"Can they become a mainstream company? That's the open question," Ben Schachter, an analyst with Macquarie Securities, told Reuters.
Matters got even worse when the six-month TWTR lock-up period expired last week, allowing insiders to sell their shares for the first time since the IPO.
But despite the barrage of glum news, there is a chance TWTR stock could actually have a bright future. And the seeds of that future are in that very same earnings report that Wall Street hated so much.
While Wall Street focused on the slowing growth rate in Twitter's user base, it almost totally ignored the company's advertising numbers.
Ad sales overall were up 125% over the same period a year earlier, to $226 million, and international sales were up 183%.
According to eMarketer, Twitter's mobile ads, which are 80% of its sales, have grown global market share to 2.39% from 1.48% in 2012.
That's just one piece of the puzzle.
The other piece is that too many people have a mistaken notion of what kind of company Twitter really is. That's why they're convinced that Twitter can only be successful with a large and rapidly growing user base.
Here's where they're going wrong...
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About the Author
David Zeiler, Associate Editor for Money Morning at Money Map Press, has been a journalist for more than 35 years, including 18 spent at The Baltimore Sun. He has worked as a writer, editor, and page designer at different times in his career. He's interviewed a number of well-known personalities - ranging from punk rock icon Joey Ramone to Apple Inc. co-founder Steve Wozniak.
Over the course of his journalistic career, Dave has covered many diverse subjects. Since arriving at Money Morning in 2011, he has focused primarily on technology. He's an expert on both Apple and cryptocurrencies. He started writing about Apple for The Sun in the mid-1990s, and had an Apple blog on The Sun's web site from 2007-2009. Dave's been writing about Bitcoin since 2011 - long before most people had even heard of it. He even mined it for a short time.
Dave has a BA in English and Mass Communications from Loyola University Maryland.


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05 Nov S.F. conference pushes ‘cloud computing’
Leaping onstage with characteristic showmanship, Salesforce.com CEO Marc Benioff kicked off his Dreamforce conference Monday surrounded by projections of clouds in a bright blue sky, flashing white lights, swirling fog and rock music blasting from the speakers. He used his keynote address to outline a series of alliances between his San Francisco “cloud computing” company and some of the biggest brands in the country – Starbucks, Amazon, Facebook, Harrah’s casinos in Las Vegas. He was joined onstage by rock singer Neil Young – along with Young’s 1959 Lincoln Continental, which Young had retrofitted into an electric car. Salesforce.com has specialized in software that runs corporate sales and marketing programs over the Internet, but it’s branching out. According to Benioff, it’s now possible for any developer to write software for Salesforce.com that also runs on the public Web. “It’s time for you to change how you think of our company and what we can do for you,” Benioff said. Facebook’s chief operating officer, Sheryl Sandberg, demonstrated a recruiting application running on Salesforce.com’s platform that lets Facebook members recommend friends for jobs, which can be applied for directly from within the social networking site. Starbucks also has integrated its “My Starbucks idea” Web site with Facebook. Salesforce.com already runs the site, which is a place for customers to send Starbucks their ideas, but Facebook members can now see which ideas their friends have posted. Young, meanwhile, urged the United States to reclaim its heritage as an innovator in the auto industry by developing clean electric cars so Americans can roam the Continental Divide as they always have.
San Francisco Chronicle, By Deborah Gage, November 4, 2008


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T E Narasimhan finds out how the hub of India's firecrackers industry is reeling after more than a month of the note ban.
Firecracker units of Sivakasi have not been able to resume work following the two-weeks after Diwali. It has been nearly two months since the festival.
Demonetisation, which was announced a little more than a week after Diwali, has given the town, which produces 85 per cent of the country's firecrackers, little chance to resume operations. The crash crunch triggered by the ban on high-value notes has crippled the Rs 4,000-crore firecracker industry in this town.
Of the nearly 820 units in Sivakasi, located around 480 km from Chennai, just about 200 units are up and running now as workers stay away from factories. They fear not getting paid their weekly wages since cash is the dominant form of payment here. Besides, units are not able to procure raw materials and customers are not placing new orders, manufacturers say.
On average, a firecracker unit in Sivakasi employs about 300 people. The units have more than 200,000 people in their employ, apart from 200,000 indirectly employed by these units. Paying wages to this huge workforce then is becoming difficult, increasing the possibility of labour unrest.
There have been labour discontent in Sivakasi over pay, working conditions and fire safety measures. "But this event (demonetisation) is unprecedented," says K Mariappan, general secretary and senior member of the advisory council for the Tamil Nadu Fireworks and Amorces Association. "If the situation doesn't improve by January, dealing with labour unrest will be difficult."
"Even if we put aside everything else, wage payment cannot be ignored," Mariappan says. "It is the most challenging task for us at this point."
Then there are the allied industries such as printing, which began as suppliers for firecracker units much like matchbox makers, who came into existence as lighting-device suppliers to the firecracker factories.
Matchboxes and printing units of Sivakasi earn Rs 1,500 crore each, with both categories employing 50,000 people. Printers, for instance, have diversified into making calendars and diaries for both domestic and international clients, in addition to supplying printed paper to firecracker units.
All of this has suffered because of demonetisation.
According to Hariram Sundaravel, president, All India Chamber of Match Industries, around 40 per cent of matchbox sales have been hit because bulk buying has come down.
For an industry that has been competing with inexpensive Chinese-made firecrackers for the past few years, demonetisation, manufacturers say, could not have come at a worse time. Some admit, when contacted, that they were looking at a good season ahead after the two-week break, since the good monsoon and salary hikes for the government employees this year had created a positive sentiment. Order flows remained good during Diwali.
Being discretionary in nature, it is not difficult to gauge why a positive sentiment is a must for buying firecrackers.
Mariappan says bursting firecrackers is symbolic, implying individuals are happy: "So, every occasion that one celebrates also becomes a reason to burst crackers."
While Diwali still remains the biggest occasion for Sivakasi's firecracker units, over time other events such as marriage, temple festivities and community celebrations have ensured round-the-clock order flows for these units.


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Some of the support for the massive downtown Darien redevelopment proposal between Corbin Drive, the Post Road and the highway is coming from businesspeople who worry that the downtown businesses district, for whatever reason, may be losing its competitive edge.
Whether it’s retail shopping now going on over the Internet or business going to downtown shops in other towns, some business owners told the Planning & Zoning Commission that they’re worried.
The P&Z held a public hearing Tuesday on the zoning changes wanted by Baywater Corbin LLC, a partnership of the owners of Baywater Properties and RG Properties.
Although the hearing was specifically about particular zoning changes being proposed for the site, the P&Z after a while seemed to give up on the idea of holding speakers to the topic at hand and let them speak in more general terms about their support for the proposed redevelopment.
Baywater Corbin launched an effort to get supporters of its proposal to the P&Z hearing, with advertising and emails, and interns from Baywater Properties even handed out blue baseball caps with the logo from the Baywater website, YourDowntownDarien.com, for attendees to show their support.
The owners of two stores that rent space from Baywater Properties and the director of the Chamber of Commerce said they strongly supported the proposal because they think it will boost the retail sales environment downtown.
“Shoppers want an experience,” Chamber of Commerce Director Susan Cator said. “We can get everything we want on the Internet. Why do we want to go into a shop? Because we want the experience. We want to interact.”
David Genovese, a principal at Baywater Properties, touched on the same topic in part of his prepared comments at the beginning of the hearing: “We are not pedestrian friendly, we do not have critical mass of retail, and the experience of shopping in downtown Darien is weak relative to the experience of shopping in our neighboring towns.”
During the meeting, Genovese made many of the same points in his prepared comments but in a more conversational tone, saying:
“I want to be up-front — there are a lot of vacancies in downtown Darien right now. Something is not working quite right. The Internet has had a profound impact on retail business and has taken a lot of business away from existing retailers.
“Some of the new retailers and some of the old retailers are re-inventing themselves and learning how to use the Internet to capture sales, but what we fundamentally need to do is get critical mass with locally known boutique stores and strengthen their ability to present themselves to their customers. We believe that this project will do that.
“And with the 66 apartments we’ve proposed and additional office space, you’ll have a captive audience that can support restaurants and other businesses in town.”
Genovese said that the project should generate enough revenue for the development company that it will be able to keep rent lower for the unique, locally owned stores of a kind now located on the site.
That would give downtown Darien a competitive advantage with other downtown shopping areas, like those in Greenwich, New Canaan, Westport, Norwalk and Stamford, where national retail chain stores dominate, he said.
Erica Jensen, owner of the Helen Ainson clothing store on the Post Road, a tenant in one of Baywater’s buildings, said that “Over the past several years, I’ve noticed a greatly reduced foot traffic in town, and I feel that possibly could be because of increased internet shopping.”
She said the Corbin Baywater proposal would likely bring back foot traffic. “I think that both David and [his father] Rocky Genovese have the best interests of the town at heart,” she added. “They’ve been very considerate to my business over the year’s when I’ve had special needs and requests.”
The inclusion of a large underground parking garage on the site, will also help, she said. When Jensen worked in downtown Greenwich, she said, customers who gave up on trying to find downtown parking would call to ask whether the store had particular kinds of dresses rather than come in and see them.
People are also now more cost-conscious when they’re shopping, she said.
Walter Casey cited the Internet-retail trend to make the opposite point: “I think the country is over retail. I think locally we’re over retail. Essentially we’re going to add capacity — and that’s a very dangerous thing.”
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Planning Commission Vice Chairman Steven Olvany pointed out to Casey that the additional retail space in the proposal wasn’t very large — about 15,000 square feet. (The project would add both condominium apartments and more office space downtown.)
John Vaccaro, a Rings End Road resident with a career in real estate finance said the Baywater Corbin proposal broadly follows a concept that’s been successful in many places across the country, including San Francisco, Santa Monica, Ca. and in Florida.
— See also:
- Maximum Building Height in Baywater Corbin Proposal Cut from Roughly 95 to 85 Feet
- Panera Bread Said to Be Departing Darien Location by End of Year
“The trend we’re seeing across the U.S. is this live/work/play concept that David and his group are trying to do in Darien. […] It’s not a new concept,” he said. “What people want to do is live and work closely together” without having to use their cars to go from place to place.
Other communities are using this concept to create neighborhoods that compete for shoppers and real estate buyers from elsewhere, he said, citing the whole west side of Manhattan and New Rochelle as competitors. “The town needs to remain competitive,” he added. “In order to be competitive, you have to do something like this.”
A downtown that doesn’t compete, he said, “is going to get hollowed out. We have a dead mall in Stamford, and that’s going to continue.”
John Ruddy of 63 Old Kings Highway South said that when he and his family want to make a day of shopping and going to a restaurant, they head for downtown New Canaan.
“There’s no real synergy in downtown Darien right now,” he said.
Before the public hearing period closes, anyone is invited to tell the Planning & Zoning Commission what they think of the proposed zoning change either by attending the next scheduled hearing date, Tuesday, July 12, at the Town Hall Auditorium, or by emailing Planning & Zoning Director Jeremy Ginsberg at email@example.com.
You can find out more about Baywater Corbin LLC’s proposal at its website: YourDowntownDarien.com.


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2024 is in its early days as to what’s in store for the games industry. 2023 proved to be eventful, with Activision Blizzard joining Microsoft officially and the sector losing thousands of people through waves of job cuts.
It’s anyone’s guess what trends, stories, and topics will become the narrative of the new year. GamesIndustry.biz has reached out to publishers, developers, and games professionals about their predictions for 2024.
Xalavier Nelson Jr., creative director, Strange Scaffold
StrangeScaffold’s Xalavier Nelson Jr. says 2024 will see the industry and games investment torn between two competing movements.
Nelson says, “On the first hand, everyone wants to take the biggest financial swings possible, regardless of market factors, player desires, and production realities. This will result in more unexpected budget increases and project delays, which will have a domino effect of instability on publisher portfolios.
“That’s already been happening for the past few years, and these conditions will only worsen as the overall economic environment atrophies.
“On the second hand, the appetite for indie projects requiring support in the $500,000 range and below is increasing, with the caveat that all of those signings are happening on a short-term basis to try to fill the space between delayed larger bets – which puts that support in the area of finishing funds while creating a deeply uncertain environment for developers to pitch their projects within at any given time.”
He suggests that the sector braces itself because he believes these systemic issues are not likely to change until 2026 at the earliest.
Kate Edwards, CEO, Geogrify
Geogrify CEO Kate Edwards says 2024 will see more visibility from global game creations while AAA publishers and studios work on finding their role in a changing industry.
She says, “I see a pronounced increase in game titles becoming more visible and successful from emerging markets, as well as non-North American and non-European studios making greater progress in market penetration in the West.
“Players are always restless for new experiences and worlds to explore, and as the demographics of game players continues to expand globally, this need won’t be met only by primarily Japanese and Western companies.”
Edwards continues, “This is especially the case as we continue to witness consolidation efforts at the AAA level and the resultant disruption, both in the workplace and in delivering consistent, high-quality content outside of the big, established franchises.”
Seungchul Kim, CEO, Neowiz
Neowiz’s Seungchul Kim believes that the Korean games sector will see some changes in technologies and continued growth for mobile and console gaming.
Kim says, “In terms of the Korean gaming market, we’re expecting to see an increase in the use of AI technology in an effort to boost work efficiency and manage rising HR costs. We’re also anticipating that the VR gaming market will experience significant changes with the introduction of next-gen products such as the Apple Vision Pro.
“Additionally, competition in the Korean mobile gaming market is set to intensify while the PC/console gaming market will experience consistent growth as it has in recent years.”
Neowiz’s CEO also projects that Korean game developers will become more active with engaging with game fandoms. He expects more live streaming engagements via platforms such as Twitch. Meanwhile, the esports audience is expected to keep on growing.
“We’re expecting to see an increase in the use of AI technology in an effort to boost work efficiency and manage rising HR costs”Seungchul Kim, Neowiz
Alexandre de Rochefort, CEO, Gameloft
Gameloft’s Alexandre de Rochefort also predicts a rise in the use of AI for game development.
“2024 should see the use of generative AI tools growing in the gaming industry to help simplify some asset creation processes, notably for UA purposes, but also to improve the players’ experience, either in-game with new, AI-powered narration or dialog features, or for services such as customer care,” says De Rochefort.
The Gameloft executive also projects that current gaming subscription services will become more popular in 2024. He explains, “[These services] have all shown there’s a strong user base that prefers to access a large library of games for a regular, monthly fee, and we are just hitting the tip of this industry-changing business model as it’s poised to be more dominant in the new year.”
He adds, “Games as a service will also continue to grow and expand to all platforms beyond mobile, bringing even more cross-platform experiences that allow players to enjoy the same game regardless of the device they use.”
Jake Perlman-Garr, global head of corporate development, Riot Games
Riot Games’ Jake Perlman-Garr predicts the year will be rocky for the games industry.
Perlman-Garr says, “We’ll see some negative trends from 2023 continue next year with venture funding remaining muted and on the sidelines while they look for a major venture-backed PC/Console win, with some studios having to restructure or shut down.
“But it’s not all doom and gloom. I believe private equity will take a keen interest in the gaming sector and will make some big acquisitions following Savvy acquiring Scopely and Sega acquiring Rovio.”
Perlman-Garr also believes that the success of single-player narrative games in 2023, such as Baldur’s Gate 3 and Starfield, will increase investment in premium/boxed titles.
Brad Hendricks, CEO, Blind Squirrel Games
Brad Hendricks of Blind Squirrel Games believes the year will see publishers operating on risk mitigation with their investments as they opt for more consistent returns.
“Based on these factors, moves toward games based on licensed IP, remasters of existing titles, and re-imagined IP will be trending during the coming year. These three focuses are less susceptible to market fluctuations. They have a built-in demand that can provide a constant revenue stream for owners and publishers, especially if the IP has a proven track record of success in its other iterations or in its original form,” says Hendricks.
“This tactic is also a win for consumers, as new chapters in beloved franchises help world-build and strengthen the IP for future development.”
“Moves toward games based on licensed IP, remasters of existing titles, and re-imagined IP will be trending during the coming year”Brad Hendricks, Blind Squirrel Games
Chelsea Blasko and Adam Boyes, co-CEOs, Iron Galaxy
Co-CEOs of Iron Galaxy Chelsea Blasko and Adam Boyes say that games-as-a-platform will continue solidifying themselves as industry standards.
They explain, “One of the most interesting trends that we are investigating are games that have transcended singular experiences to become platforms for all sorts of interactive entertainment. Some good examples of this are Roblox and Fortnite, which have expanded to become a place where players can find many different things to do.”
“These new ecosystems are breaking new ground that welcome collaborative development from creators of every shape and size. For the player, the potential for variety and discovery is only starting to become realized. For developers or companies that want gamers as an audience, the opportunities are limitless.”
Simon Carless, founder, GameDiscoverCo
GameDiscoverCo’s Simon Carless sees 2024 as a year where the middle of the market will continue to strive for consumer attention among their competition.
“With nearly 100,000 games available on Steam and almost 15,000 added in 2023 alone, and a massive amount of high-quality legacy titles available at deep discounts or via game subscription services, new games will continue to fight for attention – both on PC and console,” Carless says.
“Players are often happy to buy discounted games or less expensive micro-indie hits like Vampire Survivors or Lethal Company rather than a new game for $20-$30 (or more). And many [consumers play] a main games-as-a-service title (free-to-play or paid). They’re less motivated to change it for another unless they can bring their friends along.
Carless adds that to do well in 2024, gaming firms need to own a big catalog of discounted games and need to break through with a must-play title.
He adds, “The good news for doing this in 2024: graphical fidelity and company size may not predicate success, so tiny teams can have massive success making a game anywhere in the world. The bad news? You’re competing against thousands of those tiny teams, and ‘long tail’ revenue is being affected by the sheer amount of titles on the market. And that’ll be ‘the new normal,’ in 2024, 2025, and beyond.”