ResidentialBusiness

The Iran war risked reigniting after the U.S. tried to force open the Strait of Hormuz for commercial shipping, though a ceasefire seemed to be holding Tuesday even after the United Arab Emirates said Iran fired missiles and drones at it. Iran’s powerful parliamentary speaker and chief negotiator, Mohammad Bagher Qalibaf, accused the U.S. of undermining regional security with the effort to end Iran’s stranglehold on the strait and warned that Tehran will respond. The U.S. military said two American-flagged merchant ships successfully transited the strait on Monday, the first day of the effort, and that it fired on Iranian forces, sinking six small boats that were targeting vessels. Disputing Washington’s claim of sinking six boats, an Iranian military commander said two small civilian cargo boats were hit on Monday, killing five civilians, Iran’s state TV reported. Ship tracking data showed a Panamanian-flagged crude oil tanker heading toward the center of the strait Tuesday morning after leaving an anchorage in the Persian Gulf, though it was unclear if it would try to pass through. The tanker had a stated destination of Singapore, according to the MarineTraffic ship tracking site. Iran’s effective closure of the strait, through which about a fifth of the world’s trade in oil and natural gas typically passes, along with fertilizer and other petroleum-derived products, has sent fuel prices skyrocketing, rattled the global economy and proved a major strategic advantage in negotiations to end the war. Breaking that grip would deny Tehran a major source of leverage. But such efforts risk reigniting the full-scale fighting that erupted when the U.S. and Israel attacked Iran on Feb. 28, prompting it to close the strait. Iran accuses US of ceasefire violation Iran has called the new U.S. effort a violation of the fragile ceasefire that has held for more than three weeks. In a post on X on Tuesday, Qalibaf accused Washington of undermining shipping security in the Strait of Hormuz, and warned that a “new equation” there is taking shape. He signaled that Iran has yet to fully respond to the U.S. attempt to reopen the waterway, saying: “We know full well that the continuation of the status quo is intolerable for America; while we have not even begun yet.” His statement did not mention negotiations with the U.S. that are now in the form of passing messages via Pakistan. The President vows to reopen the strait U.S. President Donald The President on Sunday warned that Iranian efforts to halt passage through the strait “will, unfortunately, have to be dealt with forcefully.” He said the U.S. effort, “Project Freedom,” was intended to aid tens of thousands of stranded seafarers on hundreds of ships stuck in the Persian Gulf since the war began. The U.S.-led Joint Maritime Information Center advised ships on Monday to cross the strait in Oman’s waters, saying it had set up an “enhanced security area.” But shippers remained wary. The UAE bore the brunt of Iran’s retaliation The United Arab Emirates’ Defense Ministry said its air defenses had engaged 15 missiles and four drones fired by Iran. Authorities in the eastern emirate of Fujairah said one drone sparked a fire at a key oil facility, wounding three Indian nationals. The British military reported two cargo vessels ablaze off the UAE. Indian Prime Minister Narendra Modi on Tuesday condemned the attacks, calling the targeting of civilians and infrastructure “unacceptable.” On X, Modi said India stands in “firm solidarity” with the UAE, and stressed the need for safe and uninterrupted shipping through the Strait of Hormuz. Tehran did not confirm or deny the attacks but Iran’s Foreign Minister Abbas Araghchi early Tuesday said on X that both the U.S. and the UAE “should be wary of being dragged back into quagmire.” Pakistan and Saudi Arabia condemned the strikes against the UAE. The Saudi condemnation came despite increasingly strained relations between it and the UAE. Strait of Hormuz closure has far-reaching consequences The disruption of the waterway has squeezed countries in Europe and Asia that depend on Persian Gulf oil and gas, raising prices far beyond the region. The U.S. meanwhile has enforced a naval blockade on Iranian ports since April 13, telling at least 49 commercial ships to turn back, according to its Central Command. It also has warned shipping companies they could face sanctions if they pay Iran for transit of the strait. The blockade has deprived Tehran of oil revenue it needs to shore up its ailing economy. U.S. officials have expressed hope the blockade will force Iran to make concessions in talks on its disputed nuclear program and other longstanding issues. Negotiations make little progress Iran’s latest proposal for ending the war calls for the U.S. to lift sanctions, end the blockade, withdraw forces from the region and cease all hostilities including Israel’s operations in Lebanon, according to the semiofficial Nour News and Tasnim agencies, which have close ties to Iran’s security apparatus. Iranian officials over the weekend said they were reviewing the U.S. response. Tehran has claimed its proposal does not include its nuclear program and enriched uranium, long a driving force in tensions with the U.S. and Israel. Iran wants other issues resolved within 30 days and aims to end the war rather than extend the ceasefire. The President expressed doubt over the weekend that the proposal would lead to a deal. Sally Abou AlJoud and Sheikh Saaliq contributed to this report. —Adam Schreck and Elena Becatoros, Associated Press View the full article

Japanese carmaker will also combine its two production lines in UK’s Sunderland plantView the full article

We may earn a commission from links on this page. Deal pricing and availability subject to change after time of publication. A flagship soundbar rarely comes cheap, but Woot is currently shaving a big chunk off Samsung’s 2025 model. The Samsung HW-Q990F, a premium 11.1.4-channel Dolby Atmos soundbar, is marked down to $887.99. That’s nearly half of Samsung's list price for brand-new units, and also the lowest price yet, according to price-trackers. This deal is live for the next three weeks (or until stock runs out). Shipping is free for Prime members (otherwise it's $6 for shipping), though restricted to the lower 48 states. Samsung HW-Q990F Dolby Atmos Soundbar $887.99 at Woot $1,597.99 Save $710.00 Get Deal Get Deal $887.99 at Woot $1,597.99 Save $710.00 The HW-Q990F is essentially an evolution of the older HW-Q990D, keeping the same overall footprint but adding some subtle design tweaks and a redesigned subwoofer. Samsung swapped the old grille-covered look for a dual-driver sub that leaves its eight-inch woofers visible, giving it a more modern aesthetic. Under the hood, you get support for just about every format—Dolby Atmos, DTS:X, Dolby TrueHD, and even Samsung’s co-developed Eclipsa Audio, which hasn’t caught on widely yet but could down the line. In practice, that means movies sound cinematic, voices cut through clearly, and games get that extra kick from directional effects. With four up-firing drivers, the system also makes ceiling bounce tricks feel surprisingly convincing if your room is set up for it. The 11.1.4 configuration of this soundbar gives you a soundstage that stretches wide and wraps around, with the rear speaker kit included in the box. And the audio is clear and punchy, with the option to fine-tune it with EQ, voice level, and height channel adjustments to match your setup. That said, the subwoofer reportedly compresses a bit at max volume, so deep bass loses some rumble if you really crank it, but at normal levels, it should keep its clarity. You won’t be short on ways to hook this thing up, either. It handles everything from HDMI 2.1 passthrough and eARC to optical, wifi, and Bluetooth. If you’re in the Apple camp, AirPlay 2 is built in, and Samsung TV owners get the bonus of wireless Dolby Atmos without an HDMI cable, if you’ve got newer models. At just under nine hundred bucks, it’s not exactly budget gear, but compared to buying a traditional AV receiver and speaker package, this is far simpler to set up, and right now, far cheaper than usual. Our Best Editor-Vetted Tech Deals Right Now Apple AirPods Pro 3 Noise Cancelling Heart Rate Wireless Earbuds — $199.99 (List Price $249.00) Apple Watch Series 11 [GPS 46mm] Smartwatch with Jet Black Aluminum Case with Black Sport Band - M/L. Sleep Score, Fitness Tracker, Health Monitoring, Always-On Display, Water Resistant — $329.00 (List Price $429.00) Fitbit Versa 4 Fitness Smartwatch (Black) — $149.95 (List Price $199.95) Apple iPad 11" A16 128GB Wi-Fi Tablet (Silver, 2025) — $299.00 (List Price $349.00) Anker Nano 45W 10,000mAh Compact Power Bank With Retractable Cable — $59.99 (List Price $59.99) Deals are selected by our commerce team View the full article

Another major food brand is voluntarily recalling products after potential salmonella contamination linked to milk powder. Utz Quality Foods LLC, a subsidiary of Pennsylvania-based Utz Brands Inc, recalled some varieties of its Zapp’s and Dirty potato chips. The impacted chips’ seasoning contained dry milk powder manufactured by food producer California Dairies, which might be contaminated with salmonella. That’s according to a recall notice posted Monday by the Food and Drug Administration (FDA). “The affected seasoning batches tested negative for Salmonella prior to use; however, out of an abundance of caution, Utz is recalling the limited varieties of Zapp’s and Dirty brand potato chips identified below,” the company stated in its FDA announcement. The news comes one week after California-based Ghirardelli Chocolate Company recalled a range of powdered beverage mixes. The mixes also contained milk powder from California Dairies that might have salmonella contamination. In both cases, the milk powders were supplied to a third-party manufacturer for inclusion in the products. No related illnesses had been reported at the time of Utz’s or Ghiardelli’s notices. Fast Company has reached out to California Dairies for comment and will update this post if we hear back. Which products are affected? Utz has recalled a limited number of Zapp’s and Dirty brand chips, as detailed below: Zapp’s Brand Bayou Blackened Ranch Potato Chips 1.5 oz, UPC 83791272917 Batchcode 26030070101: Best by August 3, 2026 Batchcode 26036070102: Best by August 10, 2026 Batchcode 26043070101: Best by August 17, 2026 Batchcode 26052070103: Best by August 24, 2026 2.5 oz, UPC 83791272924 Batchcode 26029070104: Best by August 3, 2026 Batchcode 26044070104: Best by August 17, 2026 Batchcode 26045070104: Best by August 17, 2026 Batchcode 26058070104: Best by August 31, 2026 8 oz, UPC 83791272931 Batchcode 26024070105: Best by July 27, 2026 Batchcode 26024070104: Best by July 27, 2026 Batchcode 26029070104: Best by August 3, 2026 Batchcode 26030070104: Best by August 3, 2026 Batchcode 26037070105: Best by August 10, 2026 Batchcode 26038070105: Best by August 10, 2026 Batchcode 26044070105: Best by August 17, 2026 Batchcode 26045070105: Best by August 17, 2026 Dirty Brand Salt and Vinegar Potato Chips 2 oz, UPC 83791520148 Batchcode 26030070104: Best by August 3, 2026 Batchcode 26031070104: Best by August 3, 2026 Batchcode 26031070101: Best by August 3, 2026 Batchcode 26038070102: Best by August 10, 2026 Batchcode 26038070103: Best by August 10, 2026 Zapp’s Brand Salt and Vinegar Potato Chips (60 count) 1.5 oz, UPC 83791010144 Batchcode 26030070101: Best by August 3, 2026 Batchcode 26031070101: Best by August 3, 2026 Batchcode 26036070102: Best by August 10, 2026 Batchcode 26037070102: Best by August 10, 2026 Dirty Brand Maui Onion Potato Chip 2 oz, UPC 83791520162 Batchcode 26052070103: Best by August 8, 2026 Zapp’s Brand Big Cheezy Potato Chip 2.5 oz, UPC 83791192208 Batchcode 26058070104: Best by August 31, 2026 Zapp’s Brand Big Cheezy Potato Chip 8 oz, UPC 83791192246 Batchcode 26058070104: Best by August 31, 2026 Batchcode 26059070104: Best by August 31, 2026 Dirty Brand Sour Cream and Onion Potato Chips 2 oz, UPC 83791520094 Batchcode 26059070104: Best by August 31, 2026 Images of the products are available here. Where was the product sold? The impacted UTZ chips are sold at retail stores nationwide. The notice does not list specific retailers. What should I do if I have this product? You shouldn’t consume any of the recalled products. Discard them and, if you’re interested in a refund, contact Utz’s customer care. What salmonella symptoms should I look out for? Have you already eaten the chips? Just in case, it’s good to have an idea of symptoms of a salmonella infection. It can cause things such as fever, diarrhea, nausea, vomiting, and abdominal pain. Young children, the elderly, and individuals with weak immune systems are at greater risk of a serious infection. You can find more information on the Cleveland Clinic’s website. View the full article

This week, Bitcoin (BTC) has been trading above $80,000 per token, and on Tuesday morning, it hit $81,000. That news will be music to the ears of cryptocurrency investors as it marks the first time that Bitcoin has traded above that level since January. But what exactly is driving Bitcoin’s price to rise above the psychologically important barrier? Here are two of the biggest factors impacting BTC’s rise this week. Movement in the Strait of Hormuz Geopolitical tensions have made many assets highly volatile this year, particularly gold, stocks, and cryptocurrencies. The latest geopolitical impact on these assets came from the U.S.-Israeli war with Iran in February, which is currently under a fragile ceasefire. That war has led to Iran declaring the Strait of Hormuz—one of the world’s busiest and most critical supply lanes—closed, which has caused the price of oil to spike. Over the weekend, President The President rejected an Iranian peace proposal, which would have seen the strait reopen. But on Monday, The President announced “Project Freedom,” a plan that will see the U.S. military escort oil tankers and other ships through the strait, thereby getting fuel supply chains moving again. The news sent the price of a barrel of oil down to around $104 as of this writing, from highs of around $127 late last week. As noted by 247WallSt.com, the relief over The President’s plans to resume oil flows through the strait also buoyed investor sentiment in the crypto space. Since the military’s project was announced, Bitcoin has risen by around 3.5%, and, crucially, the news helped send the price of a single token back over the psychologically important $80,000 barrier—a level it has not seen since the end of January. But news about the Strait of Hormuz likely isn’t the only thing boosting crypto this week. Progress on the Clarity Act Over the weekend, news also broke that there was progress on the stalled crypto legislation known as the Clarity Act. As Fast Company previously reported, the Clarity Act is designed to deliver regulatory certainty to the crypto industry. One aspect of the Clarity Act will define which regulatory body oversees the industry, the Commodity Futures Trading Commission (CFTC) or the Securities and Exchange Commission (SEC). However, the Clarity Act will also determine whether third parties can offer yields on crypto holdings. The banking industry opposes this due to fears that it could effectively pay crypto customers interest on their holdings, prompting people to park their money in crypto assets to earn interest rather than in traditional savings accounts. Yields on crypto assets would be in the range of 3% to 5%—much higher than the few tenths of a percent most banks offer on cash savings. This struggle between what the banking industry wants versus what the crypto industry wants has been one of the main reasons the bill has stalled. But now, lawmakers have apparently reached a compromise. As CNBC notes, updated language in the Clarity Act would prevent crypto companies from paying yields on crypto holdings while allowing them to issue rewards linked to activity like trading or staking. If this resolves the bottleneck that has been one of the primary reasons the legislation has stalled, the Clarity Act is one big step closer to becoming law, giving the crypto industry and crypto investors the regulatory certainty they seek. It seems like Bitcoin investors are already encouraged by the news. Bitcoin’s rough 2026 Despite Bitcoin finally rising above the psychologically important $80,000 barrier, the cryptocurrency is still not in the green for the year. As of this writing, one Bitcoin is worth around $80,977. That represents an 8.25% decline from where BTC was trading at the beginning of the year. Worse, over the past 12 months, BTC is down nearly 15%. And things are even worse for Bitcoin when you look back at its all-time high of around $126,272, which was reached in early October 2025. Since then, Bitcoin has lost nearly 36% of its value. In the near term, it’s likely that Bitcoin will remain somewhat volatile as investors continue watching and digesting geopolitical developments in the Gulf and legislative developments in Washington. View the full article

I have a very conflicted relationship with my jute rug. I love the organic, textured aesthetic that makes my dining room feel earthy and relaxed. But over time, I’ve come to resent how scratchy it feels underfoot, how the fibers shed and splinter, and how if my toddler spills yogurt on it, there’s no way to get it out of the nooks and crannies, so it becomes part of the rug forever. Ruggable, the company that launched nearly a decade ago on the premise that rugs should be washable, has been on a mission to reimagine the jute rug. And after nearly two years of development, it is launching a machine-washable rug called Performance Weave that mimics jute so convincingly, you would need to touch it to know the difference. To create it, Ruggable had to embark in a complex process of reverse engineering to give customers all the qualities they love about jute—the complexity of its texture and color—while making it softer to the touch and washable. “There’s so many performance benefits of jute when you think about it as a material, but there are a lot of drawbacks too,” says Nicole Otto, Ruggable’s CEO. “Traditional jute doesn’t have the best foot feel. We set out to fix that.” Building a Jute-AlternativeThe breakthrough starts at the yarn level. Rather than using standard synthetic fibers that are commonly used to make rugs these days, Ruggable’s team engineered a yarn made from a polymer called polypropylene specifically designed to replicate jute’s signature look. To re-create the depth and tonal variation you would see in a natural fiber, they found a way to twist three distinct filaments together that were light, medium, and dark. It’s the same principle behind why our hair looks dimensional, rather than flat: Individual hairs come in different shades that work together to create richness. This makes it different from rugs that are dyed in a single color, which ends up looking flat and synthetic. Many people like having jute rugs in outdoor spaces—particularly in warmer climates in the sun belt. So Ruggable chose to use yarns with a U.V. stabilizer built into the filaments, allowing it to hold up whether it is baking in the sun or in your living room. From there, the yarn is tufted into what Otto calls a “croissant” weave. It is narrower at the base, but gains density as it loops upwards. The structure creates the thick, textured, organic look that makes jute so appealing, while staying soft to the touch. “We’ve actually woven it in a way that it has a lot of give and cushion,” Otto explains. Ruggable found a tufted construction method that allows the rug to be both fully machine washable, while also staying structurally stable. The company promises that the rug won’t warp, wrinkle, or crease when you throw it in the washing machine. The bottom layer of the rug is thin and lightweight, keeping it pliable enough to fit in a standard home washing machine, while giving the rug some grip. Ruggable’s All-in-One PlatformSince launching in 2017, Ruggable has made a business out of solving problems with traditional rugs. Founder Jeneva Bell’s original breakthrough was deconstructing a rug into layers and engineering them to survive a washing machine cycle together—which required understanding the material science of how each layer behaves under pressure. To create a washable rug, Bell created a two-piece system that featured a rug cover attached to a separate non-slip pad. The cover was thin enough that it could easily fit in a washing machine when it needed to be cleaned. But many customers complained about putting the rug back together after the wash, since it was hard to get all the edges lined up perfectly. Last September, Ruggable launched a new “all-in-one” rug design. Within six weeks of launching, Ruggable saw that the majority of its customers moved to the new innovation. It now represents 70% of the business, and it has been responsible for increasing Ruggable’s net promoter score by 20 points. Revenue climbed as well, although the company won’t share specifics. “We’re obsessed [with] our consumers’ feedback,” Otto says. “We feel like we made the platform with our consumers and really addressed all of the hurdles of the two-piece system without compromising either design or functionality.” The original two-piece system still has its devotees, particularly for high-traffic zones like kitchens where weekly washing makes sense, or under office chairs where you need something flat enough that your wheels don’t catch. But for larger rooms where you actually want comfort and texture, Ruggable is betting that washability plus natural-fiber aesthetics will keep driving adoption. Performance Weave represents something the traditional rug industry hasn’t prioritized. Maintaining the design people want while engineering for the chaos of everyday life. It’s one thing to make a rug that looks like jute. It’s another to make one that survives your washing machine, children, or pets. View the full article

Bose is rethinking its approach to smart speakers. While the company has released plenty of Wi-Fi-connected speakers over the years, its new Lifestyle Ultra line is a strategic reset, with a new platform that Bose spent the last few years building. (The name is also a nod to Bose’s original Lifestyle systems from the 1990s.) The new Bose offerings include a $299 standalone speaker, a $1,099 soundbar, and an $899 subwoofer, which can also be combined into a surround system. Raza Haider, Bose’s president of premium consumer audio, says these are the first of many speakers that it will launch on the new technology stack. “It’s a completely brand new platform, where we ripped the guts out of the old technology infrastructure,” Haider says. “It’s given us a hardware and software stack on which we can build for the future.” Minimally smart The main thing to know about Bose’s Lifestyle Ultra speakers is that they delegate most of the smart features to other companies. Unlike previous Bose speakers, for instance, the Lifestyle line won’t support music controls through Bose’s mobile app. If you want to launch music from a phone, you’ll have to use Apple AirPlay, Google Cast, or Spotify Connect. Those third-party systems will also handle multi-room audio, as Bose is stripping away the SimpleSync system that it previously used to connect Bose speakers around the home. Bose’s own app will merely handle setup for stereo pairs or surround sound in a single room. That’s a markedly different approach from rival Sonos, which supports AirPlay and Spotify Connect but still emphasizes its own remote control app and multi-room features. And while Sonos has built its own music-focused voice assistant, Bose is leaning on Alexa+ instead, with plans to support other voice agents over time. Although Sonos’ approach allows for tighter integration—for instance, you can use voice commands to move music between speakers—it can also backfire. When the company rushed out an app overhaul in 2024 filled with bugs and feature regressions, the resulting backlash decimated revenues and prompted its CEO to step down. In leaning more on third parties and de-emphasizing Bose’s own app, Haider says the company is just trying to meet customers where they are. “We basically heard from our customers that they want the music where they listen to their music,” Haider says. “They don’t want to go from Spotify Connect or AirPlay or Google Home into another app.” Not getting stranded As someone who’s accumulated and been vexed by a variety of smart speakers from Sonos, Amazon, Google, and Apple, I can see the appeal in Bose’s platform-agnostic approach. My Google Nest speakers only connect with other Google Cast speakers. My Alexa speakers only connect with other Alexa speakers. My Sonos Beam soundbar and Sonos Move speaker sync with each other via AirPlay or the much-maligned Sonos app, but they don’t work with Google’s or Amazon’s multi-room systems. So maybe a speaker like the Lifestyle Ultra is the answer. If there’s a reason for concern, it’s that Bose has walked away from one of its smart speaker platforms before. This month, Bose is discontinuing the SoundTouch platform it launched in 2013, cutting off internet-based features and security updates. Users who invested hundreds or thousands of dollars in SoundTouch speakers felt burned by the decision. (The company initially planned to discontinue AirPlay and Spotify Connect support as well, but later backtracked.) Haider argues that SoundTouch had a good run by internet-connected consumer tech standards, but he hopes the new system will last even longer. Despite the seemingly minimalist strategy, he says a lot of work went into building a modular tech stack with room to grow and adapt to future changes. If Amazon were to rewrite some aspects of Alexa, for instance, it’s now easier to integrate those changes without overhauling the entire system. In other words, by stripping away what wasn’t working, Bose may be able to avoid some of the missteps that have made smart speakers such a mess in the first place. “It’s a reset in terms of a new platform that is future-ready, interoperable with partners, and the most external-friendly platform out there,” Haider says. View the full article

Yields on 30-year gilts hit 28-year high on expectations BoE will raise rates two or three times to counter inflation threatView the full article

Crypto exchange’s CEO says the technology is speeding up its processes, meaning fewer employees are needed View the full article

Motivation can come in the form of a little treat to help you get through a long work day. Today (Tuesday, May 5, 2026) is Cinco de Mayo, meaning tacos, tequila, and guacamole are happy to help. This Mexican holiday has found a strong foothold in American culture despite it being not as popular in its homeland. It’s a good excuse for a margarita at the company happy hour. Before you indulge, let’s take a look at the history of this day so you can regale your coworkers. Impress them even more by knowing which deals will get you the most bang for your buck. The history of Cinco de Mayo Cinco de Mayo literally translates to “the fifth of May” and marks the day in 1862 that Mexico defeated the French in the Battle of Puebla. Many wrongly assume this is Mexico’s Independence Day, but it is just one battle in the larger Franco-Mexican War. The war broke out the previous year. President Benito Juárez had inherited debt and was forced to suspend foreign loan payments. France, Britain, and Spain didn’t take that too well and sent their respective navies. Britain and Spain cut a deal, but Napoleon III saw an opportunity to take over more land and his troops landed at Veracruz with that intention. Juárez was forced to relocate. The French then set their eyes on Puebla de Los Angeles in central Mexico. It seemed almost certain that General Charles Latrille de Lorencez’s 6,000 men would defeat General Ignacio Zaragoza’s 4,000. Instead, the short battle lasted only from daybreak to early evening and resulted in the deaths of around 500 Frenchmen and only about 100 Mexicans. The French retreated. The Battle of Puebla wasn’t a turning point in the larger war, but the victory became symbolic for Mexicans while they continued to resist French invaders. The Franco-Mexican War ended in 1867, when the French withdrew completely. Now that we know the history, let’s get to the eating and drinking part. Cinco de Mayo deals Alright, alright, alright, Matthew and Camila McConaughey want to make sure you have a great time at Punch Bowl Social. From May 1-5, their tequila brand, Pantalones Organic Tequila, will be popping up at the festive, adult entertainment venue complete with bowling and arcade games. You can order a Pantalones Margarita, complete with a complimentary 2oz extra tequila shot while supplies last. If that’s not your style there will also be $6 house and frozen margaritas to imbibe on. Fuzzy’s Taco Shop wants to keep the party going. On the big day, you can wash down tacos starting at $2.50 with $10 Half Yard Margaritas. The following day rewards members can come back and get free chips and queso with purchase. Speaking of queso, Moe’s Southwest Grill is also offering a free side of cheesiness with an entree purchase on Cinco de Mayo. This works if you order online, in-app, and in-store. Chuy’s has multiple offerings, including $5 queso bowls. In case you need something to drink to go with the cheese there are $6 house margaritas, $9 grande house margaritas, or you can get $1 off Mexican beers. At Chipotle Mexican Grill, your chips have dipping options. If you use the code CINCO26, you can get either free chips and queso or free chips and guacamole when you order an entree online or in the app. Last but not least, Guzman y Gomez will feature $5 burritos and bowls that pair excellently with their $3 frozen margaritas. View the full article

Agreement with the tech groups follows concerns about Anthropic’s latest Mythos modelView the full article

Officials are softening people up for difficult decisions ahead. Also in this newsletter, how oil prices workView the full article

A sole proprietorship application is vital for officially establishing your business as a sole proprietorship. It typically involves filing an Assumed Name Certificate if your business name doesn’t match your own. You’ll need to visit your county clerk’s office, complete the necessary forms, and pay a fee that varies by location. Comprehending the steps, including obtaining an Employer Identification Number and necessary permits, is critical for compliance. So, what’s next in the process? Key Takeaways A sole proprietorship application typically involves filing an Assumed Name Certificate (DBA) if the business name differs from the owner’s name. The filing process for a DBA is quick, usually taking just a few minutes, but may vary by county. Obtain an Employer Identification Number (EIN) from the IRS to distinguish personal and business finances and for tax purposes. Register for any necessary permits and licenses based on your business type and local regulations to operate legally. Maintain accurate records of your business activities for tax reporting and compliance with local and federal regulations. Understanding Sole Proprietorships A sole proprietorship is a straightforward business structure that you might consider if you’re looking to start your own venture. It’s owned and operated by a single individual, meaning there’s no legal distinction between you and your business. This simplicity makes it an attractive choice for entrepreneurs, especially when starting a business in California. Establishing a sole proprietorship requires minimal paperwork, primarily a sole proprietorship application and possibly a business license in California, depending on your location and industry. However, it’s essential to understand that as the owner, you’re personally liable for all debts and liabilities incurred by the business, which puts your personal assets at risk. On the upside, you can report your business profits and losses on your personal income tax return, benefiting from pass-through taxation. This ease of setup and tax advantages contribute to the popularity of sole proprietorships among solo entrepreneurs. Forms Required for Sole Proprietorships When you’re running a sole proprietorship, comprehending the forms you need to file is vital for compliance. You may have to submit an Assumed Name Certificate if you’re using a business name that isn’t your own, and the specific forms can vary depending on your business activities. Moreover, staying on top of your tax obligations is fundamental, so make sure you utilize resources like the Business Tax Account to keep everything in order. Required Filing Forms Maneuvering the required filing forms for a sole proprietorship can seem overwhelming, but comprehending the fundamentals can simplify the process. You’ll likely need an Assumed Name Certificate (DBA) if your business operates under a different name. The specific forms depend on your activities and local regulations, so be sure to review those. Here’s a quick look at some crucial forms: Form Purpose Assumed Name Certificate Register a business name different from yours IRS Form 1040 Report your personal income, including business Form 1099 Report payments made to contractors, if applicable Business License Required to legally operate in your area Sales Tax Permit Necessary for selling taxable goods and services To learn how to apply for a business license in California, check local guidelines on types of business licenses and how to open a company in California. Tax Compliance Obligations Comprehending your tax compliance obligations is fundamental for managing a sole proprietorship effectively. You’ll need to file various forms based on your business activities. For tax year 2022 and onward, guarantee you e-file Form 1099 using the Information Returns Intake System (IRIS) to avoid penalties. Maintaining accurate records is vital for proper reporting and compliance with tax regulations. Furthermore, eligible business taxpayers can access their information through the Business Tax Account, which aids in filing. If you’re unsure about how to obtain a business license in California or how to acquire a business license in California, consider consulting with tax professionals. They can help you navigate your specific filing needs and deadlines efficiently. E-Filing Information Returns With IRIS E-filing your information returns through the Information Returns Intake System (IRIS) offers significant benefits, including improved accuracy and efficiency. By submitting your forms electronically, you can streamline the reporting process and minimize the risk of errors that often come with paper submissions. Timely submission is essential, as it helps you avoid penalties associated with late filings and guarantees compliance with the latest tax regulations. E-filing Benefits for Owners Managing the intricacies of tax reporting can feel overwhelming, but e-filing through the Information Returns Intake System (IRIS) offers significant benefits for sole proprietors. Starting with the mandatory e-filing of Form 1099 for tax years 2022 and beyond, this system streamlines your reporting process. The user-friendly IRIS platform enables you to file your information returns efficiently, simplifying record-keeping and ensuring compliance with tax regulations. You can easily access your business tax account online, which helps you retrieve necessary details for accurate submissions. Furthermore, e-filing reduces the risk of errors, making it easier to manage your tax obligations. Timely Submission Importance Submitting your information returns on time is fundamental for avoiding penalties and ensuring compliance with IRS regulations. E-filing Form 1099 is now mandatory for the tax year 2022 and later, making it important for sole proprietors to meet these deadlines. The Information Returns Intake System (IRIS) offers a streamlined platform for e-filing, simplifying the reporting process. By submitting your forms through IRIS on time, you can prevent potential penalties and fulfill your tax obligations swiftly. Moreover, e-filing accelerates the processing of your tax information, providing benefits for your business. Staying updated on e-filing requirements is critical for maintaining good standing with tax authorities and steering clear of late fees, ensuring your sole proprietorship operates smoothly. Steps to Start a Sole Proprietorship in Texas Starting a sole proprietorship in Texas involves several essential steps to guarantee your business is legally compliant and ready to operate. First, choose a unique business name that adheres to naming regulations, avoiding any misleading implications of government affiliation. If you plan to operate under a name other than your legal name, file an Assumed Name Certificate (DBA) with the county clerk’s office, which typically involves a small fee. Next, obtain an Employer Identification Number (EIN) from the IRS for tax purposes, separating your personal and business finances, and you can do this online at no cost. Moreover, register for state taxes, including a sales tax permit if you’re selling goods or services, through the Texas Comptroller‘s website. Finally, maintain proper business records, including financial documentation and licenses, to guarantee compliance with local, state, and federal requirements as you operate your sole proprietorship. Choosing a Business Name How do you choose the right business name for your sole proprietorship? Start by selecting a name that reflects your business’s nature and complies with local naming regulations. You can use your personal name without extra filings, but a different name requires an Assumed Name Certificate (DBA). Always check if your desired name is available to avoid conflicts with existing trademarks. A simple, memorable name can boost your brand identity, making it easier for customers to find you. Furthermore, verify the availability of matching domain names and social media handles for a consistent online presence. Criteria Considerations Examples Name Reflection Aligns with business type John’s Bakery Availability Unique without trademark conflict Tech Innovations Online Presence Matching domain and social handles StylishWares.com Choosing wisely sets the tone for your business. Filing an Assumed Name (DBA) Choosing a business name is only the first step; if you decide to operate under a name that differs from your legal name, filing for a DBA (Doing Business As) is essential. This process allows you to improve your branding and establish a unique identity. Here’s what you need to know about filing a DBA: Complete the Assumed Name Certificate at your county clerk’s office. Be prepared to pay a small fee, which varies by county. The filing process usually takes only a few minutes. Processing times may vary based on your county’s workload. Check for name availability to avoid conflicts with existing businesses before submitting your application. Keep in mind that a DBA doesn’t grant exclusive rights to the name, so others may still use it unless it’s trademarked. Taking these steps guarantees your business name aligns with your entrepreneurial vision. Obtaining Necessary Permits and Licenses Before you can successfully launch your sole proprietorship, obtaining the necessary permits and licenses is essential to guarantee compliance with local regulations. Each industry has specific requirements, which can vary greatly by location. You might need a general business license from your local government, along with any industry-specific permits, like health permits for food-related businesses. To help you navigate this process, check the table below: Permit/License Type Description General Business License Required to operate legally Health Permit Necessary for food-related businesses Industry-Specific Permit Varies based on your business type DBA Filing Needed if operating under a different name It’s important to contact local authorities or visit their websites for detailed licensing requirements. Failing to secure the right permits can lead to fines and legal troubles, jeopardizing your business operation. Getting an Employer Identification Number (EIN) Getting an Employer Identification Number (EIN) is a vital step for your sole proprietorship, as it helps you separate your personal and business finances. You can apply for an EIN online through the IRS website, and the process is quick and free, giving you immediate access to this important number. Whether you plan to open a business bank account or hire employees, having an EIN is often fundamental for managing your business effectively. EIN Application Process When you’re ready to establish your sole proprietorship, applying for an Employer Identification Number (EIN) is a crucial step, especially if you plan to hire employees or want to keep your personal and business finances separate. You can complete the EIN application process in several ways: Apply online through the IRS website for immediate approval. Submit Form SS-4 via mail or fax, which may take weeks to process. There’s no fee for obtaining an EIN. You can apply even without employees to help separate finances. Make certain you have a valid Taxpayer Identification Number for the application. Securing your EIN is a straightforward and cost-effective step in setting up your business structure. Importance of EIN Acquiring an Employer Identification Number (EIN) is a significant step for any sole proprietor, regardless of whether it’s not legally required in every situation. An EIN serves multiple purposes that can improve your business’s operations and credibility. Here’s a quick overview of its importance: Benefits of EIN Description Distinguishes Business Finances Separates personal and business finances effectively. Facilitates Hiring Employees Necessary for payroll and tax reporting if you hire. Enables Business Banking Required for opening a business bank account. Supports Credit Establishment Helps in establishing business credit. Aids in Licensing Crucial for applying for permits or licenses. Obtaining an EIN can streamline your business processes and boost professionalism. Registering for State Taxes To guarantee compliance with state regulations, sole proprietors in Texas must register for state taxes, which includes obtaining a sales tax permit if you’re selling tangible goods or taxable services. You can find the necessary forms and guidelines on the Texas Comptroller’s website. Here’s what you need to know: There’s no fee for the Texas Sales & Use Tax permit, but a security bond may be required based on your business activities. Be mindful of franchise tax obligations if your gross receipts exceed $1,230,000. Timely registration is essential to avoid penalties. Operating without the necessary permits can lead to fines. Failing to remit collected taxes might incur additional charges. Managing Costs of Establishing a Sole Proprietorship Establishing a sole proprietorship can be quite affordable, making it an attractive option for many entrepreneurs. The primary costs you’ll encounter typically involve filing a Doing Business As (DBA) name, which can range from $10 to $50 based on your county. Furthermore, general business licenses may cost between $50 and $100, whereas industry-specific permits can vary widely, costing anywhere from $25 to several hundred dollars. Typically, your total setup costs will fall between $20 and $200, depending on local requirements and your business type. Even though no formal registration is required to start a sole proprietorship, obtaining necessary permits and licenses is essential to avoid fines and legal issues. You can likewise get an Employer Identification Number (EIN) for free from the IRS, which helps separate your personal and business finances, making your accounting much simpler. Frequently Asked Questions How Do I Set Myself up as a Sole Proprietor? To set yourself up as a sole proprietor, start by choosing a unique business name, then decide if you’ll use your personal name or file a DBA. Obtain necessary permits and licenses based on your industry and local regulations. Apply for an Employer Identification Number (EIN) through the IRS to separate your finances. Register for state taxes if needed, and open a business bank account to simplify accounting and protect your personal assets. How Much Is It to Start a Sole Proprietorship in Texas? Starting a sole proprietorship in Texas typically costs between $20 and $200. You’ll need to file a DBA, which can range from $10 to $50, and obtain any necessary general business licenses, costing between $50 and $100. Depending on your business type, you might likewise need industry-specific permits, which can vary widely. Don’t forget, filing for an Employer Identification Number (EIN) with the IRS is free, helping you keep personal and business finances separate. What Does It Mean to File as a Sole Proprietor? Filing as a sole proprietor means you’re operating your business under your own name or a registered DBA, without creating a separate legal entity. You report all your business income on your personal tax return using Form 1040, which means your profits are taxed as personal income. You’re personally liable for all business debts, exposing your personal assets to risk. It’s essential to comply with local, state, and federal regulations to operate legally. How Much Does a Sole Proprietorship Have to Make to File Taxes? You must file taxes as a sole proprietor if your business earns $400 or more in net income during the tax year. This requirement triggers self-employment tax obligations. You’ll report your income and expenses on Schedule C, which you attach to your personal Form 1040. Regardless of whether your business operates at a loss, it’s crucial to file, as those losses can offset other income, potentially reducing your overall tax liability. Conclusion In conclusion, filing a sole proprietorship application is a straightforward process that involves submitting an Assumed Name Certificate, obtaining necessary permits, and securing an Employer Identification Number (EIN). By following the outlined steps, such as choosing a suitable business name and registering for state taxes, you can effectively establish your business. Staying organized and compliant with local regulations guarantees a smooth start for your sole proprietorship, setting the foundation for your entrepreneurial adventure. Image via Google Gemini This article, "What Is a Sole Proprietorship Application and How to File It?" was first published on Small Business Trends View the full article

A sole proprietorship application is vital for officially establishing your business as a sole proprietorship. It typically involves filing an Assumed Name Certificate if your business name doesn’t match your own. You’ll need to visit your county clerk’s office, complete the necessary forms, and pay a fee that varies by location. Comprehending the steps, including obtaining an Employer Identification Number and necessary permits, is critical for compliance. So, what’s next in the process? Key Takeaways A sole proprietorship application typically involves filing an Assumed Name Certificate (DBA) if the business name differs from the owner’s name. The filing process for a DBA is quick, usually taking just a few minutes, but may vary by county. Obtain an Employer Identification Number (EIN) from the IRS to distinguish personal and business finances and for tax purposes. Register for any necessary permits and licenses based on your business type and local regulations to operate legally. Maintain accurate records of your business activities for tax reporting and compliance with local and federal regulations. Understanding Sole Proprietorships A sole proprietorship is a straightforward business structure that you might consider if you’re looking to start your own venture. It’s owned and operated by a single individual, meaning there’s no legal distinction between you and your business. This simplicity makes it an attractive choice for entrepreneurs, especially when starting a business in California. Establishing a sole proprietorship requires minimal paperwork, primarily a sole proprietorship application and possibly a business license in California, depending on your location and industry. However, it’s essential to understand that as the owner, you’re personally liable for all debts and liabilities incurred by the business, which puts your personal assets at risk. On the upside, you can report your business profits and losses on your personal income tax return, benefiting from pass-through taxation. This ease of setup and tax advantages contribute to the popularity of sole proprietorships among solo entrepreneurs. Forms Required for Sole Proprietorships When you’re running a sole proprietorship, comprehending the forms you need to file is vital for compliance. You may have to submit an Assumed Name Certificate if you’re using a business name that isn’t your own, and the specific forms can vary depending on your business activities. Moreover, staying on top of your tax obligations is fundamental, so make sure you utilize resources like the Business Tax Account to keep everything in order. Required Filing Forms Maneuvering the required filing forms for a sole proprietorship can seem overwhelming, but comprehending the fundamentals can simplify the process. You’ll likely need an Assumed Name Certificate (DBA) if your business operates under a different name. The specific forms depend on your activities and local regulations, so be sure to review those. Here’s a quick look at some crucial forms: Form Purpose Assumed Name Certificate Register a business name different from yours IRS Form 1040 Report your personal income, including business Form 1099 Report payments made to contractors, if applicable Business License Required to legally operate in your area Sales Tax Permit Necessary for selling taxable goods and services To learn how to apply for a business license in California, check local guidelines on types of business licenses and how to open a company in California. Tax Compliance Obligations Comprehending your tax compliance obligations is fundamental for managing a sole proprietorship effectively. You’ll need to file various forms based on your business activities. For tax year 2022 and onward, guarantee you e-file Form 1099 using the Information Returns Intake System (IRIS) to avoid penalties. Maintaining accurate records is vital for proper reporting and compliance with tax regulations. Furthermore, eligible business taxpayers can access their information through the Business Tax Account, which aids in filing. If you’re unsure about how to obtain a business license in California or how to acquire a business license in California, consider consulting with tax professionals. They can help you navigate your specific filing needs and deadlines efficiently. E-Filing Information Returns With IRIS E-filing your information returns through the Information Returns Intake System (IRIS) offers significant benefits, including improved accuracy and efficiency. By submitting your forms electronically, you can streamline the reporting process and minimize the risk of errors that often come with paper submissions. Timely submission is essential, as it helps you avoid penalties associated with late filings and guarantees compliance with the latest tax regulations. E-filing Benefits for Owners Managing the intricacies of tax reporting can feel overwhelming, but e-filing through the Information Returns Intake System (IRIS) offers significant benefits for sole proprietors. Starting with the mandatory e-filing of Form 1099 for tax years 2022 and beyond, this system streamlines your reporting process. The user-friendly IRIS platform enables you to file your information returns efficiently, simplifying record-keeping and ensuring compliance with tax regulations. You can easily access your business tax account online, which helps you retrieve necessary details for accurate submissions. Furthermore, e-filing reduces the risk of errors, making it easier to manage your tax obligations. Timely Submission Importance Submitting your information returns on time is fundamental for avoiding penalties and ensuring compliance with IRS regulations. E-filing Form 1099 is now mandatory for the tax year 2022 and later, making it important for sole proprietors to meet these deadlines. The Information Returns Intake System (IRIS) offers a streamlined platform for e-filing, simplifying the reporting process. By submitting your forms through IRIS on time, you can prevent potential penalties and fulfill your tax obligations swiftly. Moreover, e-filing accelerates the processing of your tax information, providing benefits for your business. Staying updated on e-filing requirements is critical for maintaining good standing with tax authorities and steering clear of late fees, ensuring your sole proprietorship operates smoothly. Steps to Start a Sole Proprietorship in Texas Starting a sole proprietorship in Texas involves several essential steps to guarantee your business is legally compliant and ready to operate. First, choose a unique business name that adheres to naming regulations, avoiding any misleading implications of government affiliation. If you plan to operate under a name other than your legal name, file an Assumed Name Certificate (DBA) with the county clerk’s office, which typically involves a small fee. Next, obtain an Employer Identification Number (EIN) from the IRS for tax purposes, separating your personal and business finances, and you can do this online at no cost. Moreover, register for state taxes, including a sales tax permit if you’re selling goods or services, through the Texas Comptroller‘s website. Finally, maintain proper business records, including financial documentation and licenses, to guarantee compliance with local, state, and federal requirements as you operate your sole proprietorship. Choosing a Business Name How do you choose the right business name for your sole proprietorship? Start by selecting a name that reflects your business’s nature and complies with local naming regulations. You can use your personal name without extra filings, but a different name requires an Assumed Name Certificate (DBA). Always check if your desired name is available to avoid conflicts with existing trademarks. A simple, memorable name can boost your brand identity, making it easier for customers to find you. Furthermore, verify the availability of matching domain names and social media handles for a consistent online presence. Criteria Considerations Examples Name Reflection Aligns with business type John’s Bakery Availability Unique without trademark conflict Tech Innovations Online Presence Matching domain and social handles StylishWares.com Choosing wisely sets the tone for your business. Filing an Assumed Name (DBA) Choosing a business name is only the first step; if you decide to operate under a name that differs from your legal name, filing for a DBA (Doing Business As) is essential. This process allows you to improve your branding and establish a unique identity. Here’s what you need to know about filing a DBA: Complete the Assumed Name Certificate at your county clerk’s office. Be prepared to pay a small fee, which varies by county. The filing process usually takes only a few minutes. Processing times may vary based on your county’s workload. Check for name availability to avoid conflicts with existing businesses before submitting your application. Keep in mind that a DBA doesn’t grant exclusive rights to the name, so others may still use it unless it’s trademarked. Taking these steps guarantees your business name aligns with your entrepreneurial vision. Obtaining Necessary Permits and Licenses Before you can successfully launch your sole proprietorship, obtaining the necessary permits and licenses is essential to guarantee compliance with local regulations. Each industry has specific requirements, which can vary greatly by location. You might need a general business license from your local government, along with any industry-specific permits, like health permits for food-related businesses. To help you navigate this process, check the table below: Permit/License Type Description General Business License Required to operate legally Health Permit Necessary for food-related businesses Industry-Specific Permit Varies based on your business type DBA Filing Needed if operating under a different name It’s important to contact local authorities or visit their websites for detailed licensing requirements. Failing to secure the right permits can lead to fines and legal troubles, jeopardizing your business operation. Getting an Employer Identification Number (EIN) Getting an Employer Identification Number (EIN) is a vital step for your sole proprietorship, as it helps you separate your personal and business finances. You can apply for an EIN online through the IRS website, and the process is quick and free, giving you immediate access to this important number. Whether you plan to open a business bank account or hire employees, having an EIN is often fundamental for managing your business effectively. EIN Application Process When you’re ready to establish your sole proprietorship, applying for an Employer Identification Number (EIN) is a crucial step, especially if you plan to hire employees or want to keep your personal and business finances separate. You can complete the EIN application process in several ways: Apply online through the IRS website for immediate approval. Submit Form SS-4 via mail or fax, which may take weeks to process. There’s no fee for obtaining an EIN. You can apply even without employees to help separate finances. Make certain you have a valid Taxpayer Identification Number for the application. Securing your EIN is a straightforward and cost-effective step in setting up your business structure. Importance of EIN Acquiring an Employer Identification Number (EIN) is a significant step for any sole proprietor, regardless of whether it’s not legally required in every situation. An EIN serves multiple purposes that can improve your business’s operations and credibility. Here’s a quick overview of its importance: Benefits of EIN Description Distinguishes Business Finances Separates personal and business finances effectively. Facilitates Hiring Employees Necessary for payroll and tax reporting if you hire. Enables Business Banking Required for opening a business bank account. Supports Credit Establishment Helps in establishing business credit. Aids in Licensing Crucial for applying for permits or licenses. Obtaining an EIN can streamline your business processes and boost professionalism. Registering for State Taxes To guarantee compliance with state regulations, sole proprietors in Texas must register for state taxes, which includes obtaining a sales tax permit if you’re selling tangible goods or taxable services. You can find the necessary forms and guidelines on the Texas Comptroller’s website. Here’s what you need to know: There’s no fee for the Texas Sales & Use Tax permit, but a security bond may be required based on your business activities. Be mindful of franchise tax obligations if your gross receipts exceed $1,230,000. Timely registration is essential to avoid penalties. Operating without the necessary permits can lead to fines. Failing to remit collected taxes might incur additional charges. Managing Costs of Establishing a Sole Proprietorship Establishing a sole proprietorship can be quite affordable, making it an attractive option for many entrepreneurs. The primary costs you’ll encounter typically involve filing a Doing Business As (DBA) name, which can range from $10 to $50 based on your county. Furthermore, general business licenses may cost between $50 and $100, whereas industry-specific permits can vary widely, costing anywhere from $25 to several hundred dollars. Typically, your total setup costs will fall between $20 and $200, depending on local requirements and your business type. Even though no formal registration is required to start a sole proprietorship, obtaining necessary permits and licenses is essential to avoid fines and legal issues. You can likewise get an Employer Identification Number (EIN) for free from the IRS, which helps separate your personal and business finances, making your accounting much simpler. Frequently Asked Questions How Do I Set Myself up as a Sole Proprietor? To set yourself up as a sole proprietor, start by choosing a unique business name, then decide if you’ll use your personal name or file a DBA. Obtain necessary permits and licenses based on your industry and local regulations. Apply for an Employer Identification Number (EIN) through the IRS to separate your finances. Register for state taxes if needed, and open a business bank account to simplify accounting and protect your personal assets. How Much Is It to Start a Sole Proprietorship in Texas? Starting a sole proprietorship in Texas typically costs between $20 and $200. You’ll need to file a DBA, which can range from $10 to $50, and obtain any necessary general business licenses, costing between $50 and $100. Depending on your business type, you might likewise need industry-specific permits, which can vary widely. Don’t forget, filing for an Employer Identification Number (EIN) with the IRS is free, helping you keep personal and business finances separate. What Does It Mean to File as a Sole Proprietor? Filing as a sole proprietor means you’re operating your business under your own name or a registered DBA, without creating a separate legal entity. You report all your business income on your personal tax return using Form 1040, which means your profits are taxed as personal income. You’re personally liable for all business debts, exposing your personal assets to risk. It’s essential to comply with local, state, and federal regulations to operate legally. How Much Does a Sole Proprietorship Have to Make to File Taxes? You must file taxes as a sole proprietor if your business earns $400 or more in net income during the tax year. This requirement triggers self-employment tax obligations. You’ll report your income and expenses on Schedule C, which you attach to your personal Form 1040. Regardless of whether your business operates at a loss, it’s crucial to file, as those losses can offset other income, potentially reducing your overall tax liability. Conclusion In conclusion, filing a sole proprietorship application is a straightforward process that involves submitting an Assumed Name Certificate, obtaining necessary permits, and securing an Employer Identification Number (EIN). By following the outlined steps, such as choosing a suitable business name and registering for state taxes, you can effectively establish your business. Staying organized and compliant with local regulations guarantees a smooth start for your sole proprietorship, setting the foundation for your entrepreneurial adventure. Image via Google Gemini This article, "What Is a Sole Proprietorship Application and How to File It?" was first published on Small Business Trends View the full article

The short answer: A new global study of 3,322 businesses confirms that small businesses face identical credential threats as large enterprises (phishing, weak passwords, insider risk) but more than half have no dedicated security team, no password manager, and no realistic path to the AI-powered defenses they believe they need. Do Small Businesses Need to Worry About Password Security? One in three businesses globally was hit by a confirmed cyberattack in the past year. That number holds regardless of company size. Small businesses are not smaller targets; they are easier ones, because attackers know the defenses are thinner. The 2026 State of Workforce Password Security report, based on 3,322 verified respondents across nine regions and six industries, makes this uncomfortably clear. The threat landscape for a 20-person business is functionally the same as for a 2,000-person enterprise. The difference is what happens after the first attempt. Large companies have security teams, access governance systems, and incident response plans. Most small businesses have none of those things, and more than half report no dedicated security staff at all. That gap is the story. And it starts with something as unglamorous as a password. How Too Many Apps Are Creating a Security Problem You Can’t See Think about how many tools your team uses on a given workday. Email. A project management platform. Accounting software. A CRM. A scheduling tool. Maybe a few others. Across the businesses surveyed in this report, 59% of employees globally use 15 or more business apps for work. For US workers specifically, that number climbs to 63%. Each one of those apps requires a password. In theory, each one should be a unique, strong string of characters that isn’t reused across accounts. In practice, most small businesses are managing this with browser-saved credentials, shared spreadsheets, or informal “ask your manager” policies. No one is watching this surface area grow, because there is no one whose job it is to watch it. This is what the report calls the “application sprawl problem.” Every new app your team adopts without a proper credential policy is another open door. The question is not whether attackers will find them, but when. The Tools Small Businesses Are Missing and What It’s Costing Them Here is the statistic that should worry every small business owner: only 26% of organizations globally use a dedicated password manager. That means three out of four businesses, regardless of size are managing employee credentials through informal means. For small businesses without an IT team, that number is effectively lower. The report is direct about this: SMBs rely on “manual password hygiene, shared spreadsheets, and informal policies.” If that description fits your business, you are in the majority. That does not make it acceptable. The threats most likely to exploit this gap are not exotic. Phishing and social engineering top the threat list at 68% of organizations globally, followed by weak or reused passwords at 61%. These are not sophisticated zero-day attacks. They are predictable, well-understood vulnerabilities that basic credential hygiene addresses directly. The reason they keep working is that most businesses have not deployed even the basics. The report also found that 74% of organizations globally lack complete visibility into who has access to what within their own systems. Employees who leave companies often retain access to tools they used. Role changes rarely trigger access reviews. For a small business with no one monitoring this, those orphaned accounts accumulate quietly until something goes wrong. Small Businesses Have Too Much Faith in AI Solving Security Issues Nine in ten respondents across the survey believe AI will strengthen their security posture. It is an understandable belief. AI-powered threat detection, behavioral analytics, and automated policy enforcement are genuinely promising capabilities. The problem is the gap between belief and reality. Only 8% of organizations globally are ready to deploy AI-powered security right now. That is an 82-point gap between enthusiasm and readiness. For small businesses, the report describes AI readiness as “near-zero without managed service delivery.” The primary barrier is not cost; it is legacy infrastructure that cannot support AI deployment. The risk for small businesses is not that they are skeptical of AI. It is that they might skip foundational security steps while waiting for AI to arrive as a shortcut. The report’s recommended sequence is clear: credential governance first, a Zero Trust framework second, AI-enhanced monitoring third. Jumping to step three without completing steps one and two does not accelerate security maturity. This matters because 65% of organizations globally still lack a Zero Trust security strategy. For most small businesses, Zero Trust adoption is effectively nonexistent. That’s a significant window of vulnerability, and no AI tool closes it. Next Steps for Small Businesses The report makes a compelling case that budget is not the main constraint on security maturity. Rather, the issues are architecture, talent, and visibility. The good news is that the foundational steps do not require a security team or a large budget. Start by auditing which apps your team actually uses and identifying which credentials are shared or saved in browsers. Then deploy a cloud-managed password manager with built-in defaults, one that does not require an IT administrator to configure and maintain. If you already use multi-factor authentication, pair it with a real password policy enforced by the manager rather than relying on MFA alone. As the report notes, MFA without strong underlying credentials is “a speed bump, not a barrier.” None of this requires waiting for AI. The threats hitting small businesses today are the same ones that hit them ten years ago. They keep working because the defenses have not caught up. That is the one gap you can actually close right now. Additional Questions, Answered What is the biggest password security mistake small businesses make? Relying on individual employees to create and remember strong, unique passwords for every business app they use. Without a centralized password manager enforcing policy, most employees reuse passwords or choose weak ones, and most businesses have no way to know when that happens. Credential reuse is the root cause of credential stuffing attacks, which 47% of organizations globally identified as a top threat. Do I need a dedicated IT team to protect my business from credential threats? No, but you do need the right tools. Cloud-managed password managers with opinionated defaults are specifically designed for businesses without IT staff. They enforce strong passwords automatically, manage access without requiring ongoing configuration, and integrate with the apps your team already uses. The report distinguishes between tools built for enterprises that require a full-time administrator and tools built for SMBs that work out of the box. Is a password manager actually worth it for a small company? Yes, particularly given the numbers. One in three businesses was hit by a cyberattack last year, and weak or reused passwords were a top threat factor in 61% of cases. A password manager is the most under-deployed, table-stakes security measure available. And for a business with five employees or fifty, it is the single most impactful step you can take this week. Image via Gemini This article, "Your Small Business Faces the Same Cyber Threats as Big Companies — Without Any of the Defenses " was first published on Small Business Trends View the full article

The short answer: A new global study of 3,322 businesses confirms that small businesses face identical credential threats as large enterprises (phishing, weak passwords, insider risk) but more than half have no dedicated security team, no password manager, and no realistic path to the AI-powered defenses they believe they need. Do Small Businesses Need to Worry About Password Security? One in three businesses globally was hit by a confirmed cyberattack in the past year. That number holds regardless of company size. Small businesses are not smaller targets; they are easier ones, because attackers know the defenses are thinner. The 2026 State of Workforce Password Security report, based on 3,322 verified respondents across nine regions and six industries, makes this uncomfortably clear. The threat landscape for a 20-person business is functionally the same as for a 2,000-person enterprise. The difference is what happens after the first attempt. Large companies have security teams, access governance systems, and incident response plans. Most small businesses have none of those things, and more than half report no dedicated security staff at all. That gap is the story. And it starts with something as unglamorous as a password. How Too Many Apps Are Creating a Security Problem You Can’t See Think about how many tools your team uses on a given workday. Email. A project management platform. Accounting software. A CRM. A scheduling tool. Maybe a few others. Across the businesses surveyed in this report, 59% of employees globally use 15 or more business apps for work. For US workers specifically, that number climbs to 63%. Each one of those apps requires a password. In theory, each one should be a unique, strong string of characters that isn’t reused across accounts. In practice, most small businesses are managing this with browser-saved credentials, shared spreadsheets, or informal “ask your manager” policies. No one is watching this surface area grow, because there is no one whose job it is to watch it. This is what the report calls the “application sprawl problem.” Every new app your team adopts without a proper credential policy is another open door. The question is not whether attackers will find them, but when. The Tools Small Businesses Are Missing and What It’s Costing Them Here is the statistic that should worry every small business owner: only 26% of organizations globally use a dedicated password manager. That means three out of four businesses, regardless of size are managing employee credentials through informal means. For small businesses without an IT team, that number is effectively lower. The report is direct about this: SMBs rely on “manual password hygiene, shared spreadsheets, and informal policies.” If that description fits your business, you are in the majority. That does not make it acceptable. The threats most likely to exploit this gap are not exotic. Phishing and social engineering top the threat list at 68% of organizations globally, followed by weak or reused passwords at 61%. These are not sophisticated zero-day attacks. They are predictable, well-understood vulnerabilities that basic credential hygiene addresses directly. The reason they keep working is that most businesses have not deployed even the basics. The report also found that 74% of organizations globally lack complete visibility into who has access to what within their own systems. Employees who leave companies often retain access to tools they used. Role changes rarely trigger access reviews. For a small business with no one monitoring this, those orphaned accounts accumulate quietly until something goes wrong. Small Businesses Have Too Much Faith in AI Solving Security Issues Nine in ten respondents across the survey believe AI will strengthen their security posture. It is an understandable belief. AI-powered threat detection, behavioral analytics, and automated policy enforcement are genuinely promising capabilities. The problem is the gap between belief and reality. Only 8% of organizations globally are ready to deploy AI-powered security right now. That is an 82-point gap between enthusiasm and readiness. For small businesses, the report describes AI readiness as “near-zero without managed service delivery.” The primary barrier is not cost; it is legacy infrastructure that cannot support AI deployment. The risk for small businesses is not that they are skeptical of AI. It is that they might skip foundational security steps while waiting for AI to arrive as a shortcut. The report’s recommended sequence is clear: credential governance first, a Zero Trust framework second, AI-enhanced monitoring third. Jumping to step three without completing steps one and two does not accelerate security maturity. This matters because 65% of organizations globally still lack a Zero Trust security strategy. For most small businesses, Zero Trust adoption is effectively nonexistent. That’s a significant window of vulnerability, and no AI tool closes it. Next Steps for Small Businesses The report makes a compelling case that budget is not the main constraint on security maturity. Rather, the issues are architecture, talent, and visibility. The good news is that the foundational steps do not require a security team or a large budget. Start by auditing which apps your team actually uses and identifying which credentials are shared or saved in browsers. Then deploy a cloud-managed password manager with built-in defaults, one that does not require an IT administrator to configure and maintain. If you already use multi-factor authentication, pair it with a real password policy enforced by the manager rather than relying on MFA alone. As the report notes, MFA without strong underlying credentials is “a speed bump, not a barrier.” None of this requires waiting for AI. The threats hitting small businesses today are the same ones that hit them ten years ago. They keep working because the defenses have not caught up. That is the one gap you can actually close right now. Additional Questions, Answered What is the biggest password security mistake small businesses make? Relying on individual employees to create and remember strong, unique passwords for every business app they use. Without a centralized password manager enforcing policy, most employees reuse passwords or choose weak ones, and most businesses have no way to know when that happens. Credential reuse is the root cause of credential stuffing attacks, which 47% of organizations globally identified as a top threat. Do I need a dedicated IT team to protect my business from credential threats? No, but you do need the right tools. Cloud-managed password managers with opinionated defaults are specifically designed for businesses without IT staff. They enforce strong passwords automatically, manage access without requiring ongoing configuration, and integrate with the apps your team already uses. The report distinguishes between tools built for enterprises that require a full-time administrator and tools built for SMBs that work out of the box. Is a password manager actually worth it for a small company? Yes, particularly given the numbers. One in three businesses was hit by a cyberattack last year, and weak or reused passwords were a top threat factor in 61% of cases. A password manager is the most under-deployed, table-stakes security measure available. And for a business with five employees or fifty, it is the single most impactful step you can take this week. Image via Gemini This article, "Your Small Business Faces the Same Cyber Threats as Big Companies — Without Any of the Defenses " was first published on Small Business Trends View the full article

The expectation to respond instantly to every message is burning out professionals across industries. But how can you move away from being “always available” without harming your reputation? Here, experts offer practical strategies to reclaim control of your time and attention, so you can establish clear boundaries while maintaining professional effectiveness and trust. Make Communication Predictable One effective way professionals can move away from being “always available” is by creating clarity and predictability in how they communicate, rather than trying to respond to everything instantly. Most professionals think they need to respond faster to reduce pressure. In reality, constant availability is created by uncertainty, instead of urgency. When people don’t know when they’ll hear from you, they keep reaching out. The shift that worked for me wasn’t becoming more responsive; it was becoming more predictable. While working as a consultant across multiple projects, I noticed clients weren’t asking for updates because things were urgent; they were asking because they didn’t know when updates would come. Instead of replying to every message, I reset the system. Instead of responding to every message immediately, I focused on improving the communication structure. I introduced regular update touchpoints to define when updates would be shared, when decisions would be communicated, what actually qualified as urgent, and how escalation would work. I also batched my availability instead of staying constantly online. And then? Follow-ups were reduced significantly because stakeholders had better visibility and confidence in the process. Communication became more purposeful, and I was no longer expected to be constantly available. My reputation didn’t suffer; in fact, it improved. I was seen as structured and reliable, instead of reactive. The truth is, you don’t earn trust by being always available; it’s earned by being consistently predictable. Dhruva Somani, Consultant, NamanHR Keep Personal and Work Channels Separate The rule in my world is simple. No SMS. No WhatsApp. Not with clients, not with my team. That is not a preference. It is a boundary I set deliberately, and it changed everything about how I work and how I show up outside of work. Text messaging and WhatsApp are personal channels. They live in the same space as messages from my spouse, my friends, and my family. When business bleeds into that space, it does not just interrupt work into personal time. It works both ways. You are never fully in either place. You are always half somewhere else. I learned this the hard way. I was at the playground on a Saturday morning with my young children. My phone buzzed. A client text. 10 a.m. on a weekend. I looked at it, and that was it. My morning was gone. Not because I spent an hour on the phone, but because my attention had shifted. I was physically at the playground and mentally somewhere else entirely. I was not present with my kids. I was not focused enough to actually help my client. I was cheating both. That moment stuck with me. So I drew the line. Business communication lives in business channels. Email, Slack, Zoom, Asana. All of them are fast, seamless, and asynchronous. Nothing urgent gets lost. No small children will be harmed. Nobody is bleeding. Everything gets addressed. And my personal space stays mine. I run a team of 15+ fractional COOs working with companies scaling at 7- and 8-figure levels. This boundary applies across the entire team. It is part of how we stay structured, focused, and aligned in our client work. And here is what most people do not expect: our clients respect it. Many of them adopt the same standard inside their own organizations because they see what it models. Protecting your attention is not about being unavailable. It is about being fully present wherever you actually are. That is what your clients, your team, and your family all deserve from you. Derek Fredrickson, Founder & CEO, The COO Solution Share Daily Schedule and Decision Protocols I used to answer Slack messages at midnight and then wonder why my team was doing the same thing. Turns out, when you’re always on, you’re training everyone around you that always-on is the standard. The shift that actually changed things was getting honest about how I work best. I realized I do my clearest thinking in the morning and my worst decision-making after 8pm. So I started sharing my working hours explicitly and documenting decisions asynchronously so nothing felt stalled while I was offline. My team knows there’s a protocol for genuine emergencies, but otherwise they’ll hear from me during my working hours. Here’s what most people miss: the anxiety about going offline isn’t really about you being available. It’s about your colleagues feeling confident that nothing falls through the cracks while you’re away. Solve for that confidence with clear documentation, async updates, and a real emergency channel, and nobody actually cares when you log off. Reliability beats availability every time. Once I stopped being “always on,” the quality of my responses went up and my team started making better independent decisions. The irony is that being less available made me more effective. Kenneth Shen, CEO, Founder, Pigment Set Clear Reply Times Move from availability as a default to responsiveness as a commitment, reframing the signal you send from, “I’m always reachable,” to, “When I engage, you have my full attention and a reliable turnaround.” In practice, this looks like setting explicit response windows rather than going silent. Something like: “I check messages at 9 a.m. and 3 p.m. For anything urgent, call me.” That’s not a boundary announcement; it’s a service agreement. It gives colleagues something to work with, which is what most people actually need. I’m close with a director at a consulting firm, who did this after noticing that constant availability had paradoxically eroded trust. Previously, her responses were fast but shallow, and people had stopped expecting considered judgment. She moved to twice-daily email windows, communicated it plainly to her team, and within a few weeks, the nature of the messages she received changed. People stopped pinging her for things they could resolve themselves, and started reserving her attention for decisions that warranted it. Her reputation didn’t suffer; it sharpened. The underlying issue is that most availability anxiety is really about unpredictability. People don’t need you constantly; they need to know what to expect from you. Tonille Miller, Founder, TonilleMiller.com Enforce a Firm After-Work Cutoff Draw a hard line between routine queries and genuine emergencies, then protect that boundary. I run a construction equipment hire business and when 5 p.m. comes on a normal day, the phone goes off. But if a tower crane has an issue on a live site, I’m picking up immediately, no questions asked. That balance is what builds trust. People don’t remember the email you replied to at 9 p.m. on a Tuesday. They remember that you dropped everything when it actually mattered. Being selectively available has done more for my professional reputation than being permanently online ever did. Tom McDaid, Managing Director, WOLFF Onsite State Your Availability Window and Escalation I find that the “constant availability” expectation is often more of an internal expectation than a stated expectation. Additionally, I’m living proof that you can put boundaries around your time without ruining your reputation. For my entire career, I’ve never checked email/Slack on evenings, weekends or vacations. And when I was a W-2 employee, I was consistently promoted at every company I worked for. What I’ve found with respect to being “always on” is that everyone thinks everyone else expects them to be “always on,” but we don’t actually expect that of others. More often, it’s a double standard we set for ourselves. There are, of course, companies and jobs where constant connectivity is truly an expectation of the job, but there are fewer of these than one would believe. Here’s what I’ve found helps to set boundaries around your time and availability without affecting your reputation or status: 1) Just tell people what you’re doing. Set an OoO reply that says something to the effect of: “Head’s down in deep work until 4pm; I’ll reply when I’m back in email; if it’s urgent contact me via [insert emergency channel]” Set an away message in Slack/Teams, to the same effect. If you feel you really need to, give a verbal head’s up to people you’re worried might judge you. You can say something as simple as: “I’ve read a lot of research that supports the benefits of batch processing your communications and turning off notifications in the interim so that you can get more done and I’m trying it out. If you don’t get me as fast as you were expecting to on email/Slack, please reach out to me on [insert emergency channel].” Now, what’s this “emergency channel,” you may be wondering? Well, that’s the method to contact you if there’s a true emergency. For most people, this ends up being a phone call or a text, as these methods are used much less frequently for work, so the signal-to-noise ratio is much better. 2) Use positive language. Don’t say, “I’m not available after 5 p.m.” Say instead, “The best hours to reach me are between 9 a.m. and 5 p.m. And of course, if you need me urgently, here’s how to reach me.” This way, we put the onus on others to reach out via the emergency channel instead of feeling like we have to constantly keep checking email/Slack, etc. Alexis Haselberger, Time Management and Productivity Coach, Alexis Haselberger Coaching and Consulting, Inc Adopt a Consistent One-Day SLA In my experience, the “always available” or “always on” trap is less about boundaries and more about consistency. If you respond at 11 p.m. or over the weekend once, you can accidentally create a precedent. When you don’t do it the next time, it can start to create friction. Whether you’re an individual contributor or a manager, moving away from that requires a combination of candid communication and clear patterns that make you more predictable. For me, managing a team of 12 direct reports across four different countries and multiple time zones makes constant availability impossible. To keep myself from burning out while maintaining high trust with my team, I implemented a 24 hour global SLA. My team knows that my inbox and DMs are always open, but responses won’t always be instant. I encouraged them to send questions or thoughts as they come up, regardless of what time it was, to keep their workflows moving forward. In exchange, I committed to a response within 24 hours during the week. This consistency helped to reduce the anxiety for my team, while saving me from having to stay awake to accommodate every time zone. It also encouraged my team members to try and solve problems on their own and collaborate with each other, which has made me less of a bottleneck. George Atuahene, Founder, Ataraxis Pause Before You Commit While people say “no” is a complete sentence, saying “no” at work at the wrong time and to the wrong person can get you in trouble. You can be perceived as “not a team player” or “uncooperative,” and that can linger around and serve like a badge that you don’t want to wear at work. Instead, I recommend my clients to appear available, but on their own terms with low stakes boundaries. Low stakes boundaries start with the pause. Before you say yes or agree to do something when you have a heavy workload, it’s best to pause. You can use sentences like this: “Let me check my schedule and get back to you on that.” Or, “Can you send me the details by email so I can take a look?” Or, “Let me think about how I can best contribute and I’ll let you know tomorrow.” You are not giving a yes or a no on the spot, but you are giving the person your attention before you agree or pass the request. Another strategy is to use “yes, and” or “yes, but.” They help you say yes on your own terms. You tell them upfront how and when you’ll help. For example, “I can help with the initial steps, but I won’t be able to manage the whole project.” Or, “Yes, I can get this done, but to do it well, I’ll need until Friday. Would that work?” You are negotiating how and when you can get something done. If this is a request coming from a manager, you can also say, “This sounds important. To give it the focus it deserves, which of my other tasks should I de-prioritize?” If you need to say no, don’t go on and on explaining why. Instead, maybe offer a resource or give suggestions with a quick 10 minute call, just to make the person feel heard. There’s a place and time for a no at work without too much rambling, but it’s about how you say it and how that no comes across in your body language and tone of voice. While you can’t control the “always available” culture, sometimes it is possible to control how you respond and protect your time. Ana Goehner, Career Strategist, Digital Butterfly Communications, LLC Build Systems That Reduce Interruptions One effective way to move away from being always available is to replace reactivity with structured communication systems. I learned this the hard way. I used to be available at all times for everyone, every day of the week. It was terrible for both my health and my effectiveness. Something had to give. What worked wasn’t disappearing. It was setting up “hacks” that stopped me from sabotaging my own efforts. The biggest one: I block every Wednesday. No meetings, no internal calls. The team knows it, it’s been on the calendar forever, and it gives me actual uninterrupted time to think. I’m still reachable for clients if something’s on fire, but that day has become non-negotiable for me. All recurring meetings have a live agenda in ClickUp; if something comes up mid-week and it’s not urgent, it goes there instead of a Slack ping. That alone killed a huge amount of interruptions. I check email twice a day. I turned off most notifications (if something’s truly urgent, someone will call). I use a couple of AI agents to scan for actual emergencies so I’m not anxious about missing something critical. The deeper shift was getting out of the way on decisions. We built clear SOPs and I trust the team to use them. I’m not the bottleneck anymore, which means people don’t feel the need to constantly check in. My reputation didn’t tank, I like to believe it got better. Turns out people respect focus more than they respect someone who replies in two minutes at 10 p.m. Julia Duran, CEO, South Geeks Use Project-Specific Contact Points One trick that has helped me extend my availability without overextending myself has been to create unique contact information for specific projects. I’ll set up email addresses, phone numbers, and chat threads specifically to interact with key stakeholders on major projects. When we’re in crunch time, I’ll respond to those threads whenever is necessary, but that doesn’t mean I’m responding to every work email after hours. After the project is over, those contacts get deleted. Mark Sturino, VP of Data & Analytics, Good Apple Digital Predefine Paths for Different Urgency The solution is simple: define a communication channel in advance. Email for routine: I’ll respond within 1-2 days. WhatsApp for urgent: I’ll respond as soon as possible. In critical situations, call me. This works for two reasons. First, people always know how to contact me without feeling like they’re bothering me or waiting in the dark. Second, it naturally filters out people who can’t respect basic communication norms. If someone constantly calls with routine questions, that tells me everything I need to know. Nick Anisimov, Founder, FirstHR View the full article

As successful as OpenAI has been since the launch of ChatGPT, the company is operating in an extraordinarily expensive and risky corner of tech, building frontier AI models at massive scale. Its future, even its survival, is far from certain. OpenAI is burning billions on top-tier AI research talent, carefully curated training data, and increasingly scarce computing power. Footing the bill is a growing cap table of VC and strategic partners, all betting on outsize returns within a few years. Compute is the biggest cost. AI companies must lock in capacity years—not months—in advance. Data centers take years to build and bring online. That forces companies to forecast demand far ahead, then scramble to generate enough revenue to cover those commitments. If they underestimate demand, they leave revenue on the table. If they overestimate, the consequences can be existential. OpenAI’s rival, Anthropic, must make a similarly precarious bet, but has bet more conservatively. Anthropic CEO Dario Amodei described the challenge on a recent podcast with Dwarkesh Patel: “The curve I’m looking at is: We’ve had a 10x-a-year increase every year. At the beginning of this year, we’re looking at $10 billion in annualized revenue. . . . I could assume that the revenue will continue growing 10x a year [but] I can’t buy $1 trillion a year of compute in 2027. If I’m just off by a year in that rate of growth, or if the growth rate is 5x a year instead of 10x a year, then you go bankrupt.” OpenAI, by contrast, is playing a riskier game. The company has committed more than $1 trillion to building new data centers and leasing compute from an array of partners, including Amazon Web Services, CoreWeave, MGX, Microsoft, Nvidia, Oracle, and Arm. Oracle alone locked in a $300 billion, five-year data center partnership with minimum commitments running at about $60 billion per year by 2027, according to a PitchBook analysis. OpenAI has also contracted roughly $250 billion in compute from Microsoft, and pays about $5 billion annually back to Microsoft through its Microsoft Azure revenue share, PitchBook estimates. All of this spending hinges on how quickly OpenAI’s revenue grows. The company is generating about $25 billion in annualized revenue, according to PitchBook, a roughly 40-to-1 ratio of obligations to current revenue. If it misses key growth targets, it may struggle to cover its compute and data center bills. The Wall Street Journal reported last week that OpenAI missed internal revenue and user targets in early 2026, with CFO Sarah Friar privately warning leaders that the company may not be able to fund its future computing contracts if growth slows. OpenAI did not dispute the reporting. Instead, CEO Sam Altman and Friar said in a joint statement that they are “totally aligned on buying as much compute as we can.” And boy, are they. By PitchBook senior private company analyst Harrison Rolfes’s estimate, OpenAI’s cash losses could mount to nearly $74 billion in fiscal year 2028 before it has any realistic path to breaking even by 2030. “The Wall Street Journal’s reporting that OpenAI missed multiple monthly revenue targets this year after losing enterprise and coding share to Anthropic and Gemini is exactly the scenario that makes this math dangerous,” Rolfes tells Fast Company. “Every revenue miss compounds against a fixed obligation ladder that doesn’t flex.” If OpenAI had locked down a product that no one else could replicate, or one far ahead of competitors, it might have a defensible moat. That could help offset the risks of such aggressive expansion. However, many analysts see that moat as somewhat limited. “It has become clear that frontier models are rapidly commoditizing. DeepSeek repeatedly makes this clear,” says Columbia Business School professor Daniel Keum. “Switching costs are minimal. The main exceptions are firms like Google and Microsoft, which can embed AI into existing ecosystems that are very difficult to replace, such as Gmail, Google Calendar, and Microsoft Office.” OpenAI may have gotten an early lead in a market growing at an “exponential 10x” clip, Keum adds, but it hasn’t built much differentiation or strong lock-in, particularly with consumers. Anthropic, by contrast, could prove more durable given its focus on enterprise customers, where switching costs tend to be higher. And yet OpenAI recently raised $122 billion at an $852 billion valuation, suggesting investors still believe in a relatively fast “AI takeoff,” where businesses broadly integrate AI into their operations. That anticipated shift is what OpenAI and its peers are spending so heavily to prepare for. “The risk to OpenAI isn’t sudden collapse,” Rolfes tells Fast Company, “but more that because the obligation stack is this large and this locked in, every revenue miss shrinks your options faster than most people appreciate.​​​​​​​​​​​​​​​​” Both OpenAI and Anthropic are expected to go public in the near future, which will offer a clearer view into their financial risk. For now, investor sentiment appears to be tilting toward Anthropic’s more measured approach. In early April, reports appeared that people were shunning OpenAI shares on special market investor sites and flocking to Anthropic shares. Does OpenAI know something about the “AI takeoff” that investors don’t? View the full article

The global economy will soon be running on fumesView the full article

Growing up, graphic designer, editor, and author Chip Kidd was about as artsy as he could be in 1970s suburban Reading, Pennsylvania. “I glommed onto comic books very early on,” he says. “I loved to draw. I loved to write. I took up the drums and joined the marching band; all of this typical artsy-gay-kid-that-can’t-come-out stuff.” Still, he says, he knew he wasn’t the most talented in drawing. “There’s always that other kid that draws better than you who gets the gig to draw everything for the yearbook; It’s not tragic. It’s like, alright, I’ve got to figure something else out.” That something else, as it happens, worked out pretty well. Today, Kidd is approaching 40 years as Associate Art Director at Alfred A. Knopf (he is perhaps best known for designing the book cover of Michael Crichton’s Jurassic Park). He’s written two novels, several nonfiction books on graphic design, and in 2025 released his first Marvel graphic novel, The Avengers in the Veracity Trap! Here, he talks about the kismet of his career arc from Eastern Pennsylvania, the practice of framing graphic design as problem solving, and how The New York Times crossword runs parallel to his creative process. I knew I wanted to do something creative for a living. In high school, we had––and they do to this day at Wilson High School in Westlawn, Pennsylvania––a fully functional television station within the high school. It’s like the ultimate AV Club. We would take turns running the camera, being on camera, directing the camera people. We covered all of our sporting events. For a while I thought that’s what I wanted to do. Then I started doing graphics for the various shows we were doing. This was from 1982 to 1986, pre-computer, everything done by hand. I didn’t really know at the time what graphic design was, but that’s what I was doing. I got accepted to Penn State in the school of communications. My freshman year, a guidance counselor pointed me in the direction of, “Oh we have a graphic design department here. Maybe you should try that?” So I took Introduction to Graphic Design, Introduction to Color Theory, etc, etc. And that is when I figured out what I wanted to do. The happily boring story is that I majored in that for the next four years, graduated with a portfolio, and went to New York City in the fall of 1986. That was the goal: go to New York and try to get a job. I interviewed at the time at all of the top graphic design firms and I got good feedback, but nobody had an entry-level position. Someone steered me over to Random House and at their imprint Knopf Publishing. They actually did have an entry-level position. I raised my hand. It was the assistant to the art director at Alfred A. Knopf Publishing. At that time, the art department was literally me and my boss. It was waxers and t-squares and taping your board onto your drawing table and lining everything up, measuring it all out. I enjoyed that. Then, gradually with time, I was given small design jobs for the books. It grew from there. In October, if I live that long, I will have passed my 40th year at Alfred A. Knopf. I feel very fortunate. Frankly, I’m the last of that breed. I have peers who are also the last, but that’s going to be it. It’s not for me to say, but the age of a 40-year career at the same place used to be not that unusual, but going forward it will be. That’s just the way things have evolved. I grew up in the town next to Shillington, Pennsylvania, the town my father grew up in. John Updike’s father was his math teacher. Alfred A. Knopf published John Updike, and I ended up working on his book covers. At some point, I would say in the late ’80s, I introduced myself to him and I told him this circumstance. He was absolutely delighted. We became fellow Shillington-ites. He was very prolific so I worked with him for 25 years. He just really enjoyed that connection and when I published my first monograph with Rizzoli in 2006, he wrote the introduction to it. That was just a thrill and an honor for me. This idea of something coming full circle. It sounds fictional, but it’s not. I think of myself as a visual person, and I think of myself as a creative person. What I don’t think of myself as is an artist. I understand at least in my mind what the division is between graphic designer and artist with a capital A. A big part of that division is that graphic design is problem solving for a client. Most of my clients were writers, though in that time I did a lot of freelance work as well—a poster, a logo, or in rare cases product design. You are creating something in the service of another piece of creation which frankly takes precedent over yours. That’s just the definition of the job. I have written several novels. That is much closer to art with a capital A. You’re starting with a proverbial blank page and starting to figure out how to fill it. You’re creating something from scratch. That to me is being an artist. Graphic designers are taking the writer or artist’s work and giving it a visual presence in the world. It’s much more—this sounds awful— but it’s more of a service industry, and I have no problem with that. What I’ve been able to do is get recognition for what I’ve done over the years. When I was first hired, I was barely 22 and what I understood from the get-go was that these are hardcover first editions with book jackets. When you look at the back flap it lists who exactly designed it. So I understood that was important. I have an aphorism: Limits are possibilities. It isn’t just an aphorism. It’s true. I learned that in school. You can only use one color to solve this problem, and it’s a challenge, but to me it’s a welcomed and interesting challenge. If something gets rejected, you have to approach that as an opportunity to start over and do something better. That can be difficult. Especially when you as a designer believe you solved it the best way the first time. Again, in that sense, you’re not in charge. All you’re in charge of is doing the design. You’re not in charge of getting it approved. So when I hit the wall with a design, what I do is give myself a break for a couple of days and think about: alright, this metaphor wasn’t working so is there another one that would work better? That’s the job: resilience. A lot of graphic designers do not get credit for what they do. Who designed the Tide detergent box? We don’t know but it certainly is iconic. Even going back to Coca-Cola: Who designed that? Since then, there are entire books on the history of graphic design, as which there should be, and sometimes you can get to the root. But for the most part these are not people you know of. Growing up in the ’70s, the only other area of graphic design where the designers got credit were record album covers. If you looked closely, you could see this one was done by Peter Saville. He was a huge influence on me. He was the graphic designer who did all of the sleeves for these groups coming out of Manchester: Joy Division, New Order, Orchestral Maneuvers in the Dark. I discovered that while I was in college. To this day, if I design a book cover and it gets put out into the world, it has my name on it. That is why we are even having this discussion right now. Not only did I get credit for what I was doing, but I piggybacked on these books that became iconic bestselling books. Cormac McCarthy, Donna Tartt, David Sedaris, Augusten Burroughs, Oliver Sacks, John Updike. It was an incredible opportunity to work nonstop on these books that many of which became not just bestsellers but part of the literary canon of America. Every book is different, and every author is different. You have authors who do want to be very much involved, but you also have authors who more or less say, “Well do your job and I’ll react to it.” Book covers don’t sell books. What they are supposed to do is get your attention, to lead you to examine the book and see if it’s something you want to read. The book clubs, the reviews, that is the stuff that really does sell the book. It’s been that way forever in some form or another. I’m a great crossword puzzle addict. In the New York Times, Monday is super easy, and by Saturday it’s really, really hard. If I’m on a Friday or Saturday puzzle and I get stuck, I can put it aside and work on something else. In that time, l’ll start to see things and understand things I didn’t at the beginning. My subconscious has been working on it even when I wasn’t thinking about it. Graphic design problems are the same thing. I don’t know so much that creativity can be taught outright, but certainly developing your creativity can be taught. And the extent to which your creativity is functional and effective, that can be taught, unless you’re just out of the womb a genius––and some people are, certainly. Without my design education at Penn State, there’s no way I would have gotten to where I’ve gotten. I’m very much aware of that. Design education is a very practical thing, if you get a good one. View the full article

It would be strange if dynastic succession were not on The President’s mindView the full article

A tall baobab tree greets people inside the Long Beach, California, headquarters of Vast, an aerospace company that is building the space station of the future. It’s planted beneath a skylight in the center of a white-painted circular lobby furnished with a sleek aluminum reception desk and built-in wood banquette that follows the curve of the walls. The tree and the room are symbolic. The former references trees in The Little Prince, a 1943 novella with a character who travels between planets, and the latter has the same diameter of a Haven-1 module, which the Vast team hopes will become home to researchers, astronauts, and travelers and eventually succeed the International Space Station. “There are these timeless stories of, ‘Why is humanity reaching for the stars? Why are we going to space?’” says Hillary Coe, Vast’s chief design and marketing officer. “Those Easter eggs start to ground you in the ‘why’ while you’re simultaneously understanding the ‘what’—the important engineering and structural feats that we’re doing.” The space race of the 21st century is tourism, with new companies like Vast rapidly developing the technology and physical infrastructure that will enable human habitation in the cosmos. Here on Earth, they’re also inventing new types of workspaces for this growing industry, which is expected to reach $87 billion by 2035. Vast’s new 49,000-square-foot headquarters, a collaboration between its in-house team and the New York-based multidisciplinary design studio Civilian, does all those things, in a sophisticated expression of how architecture can support high-performance work and reinforce brand. “Form empowering function” The space is minimalist, with polished concrete floors, custom-made white oak doors, and a palette of white and gray. But this wasn’t merely a stylistic choice; it reinforces the work Vast is seeking to do. “Form being able to empower function is really the core of what we’re dealing with,” Coe says. “And when you see that clean aesthetic, it’s very much for the sake of capability and efficiency.” The headquarters has a few jobs: First, it needs to meet the high-stakes performance requirements of Vast’s engineers, astronauts, creative teams, R&D, and more all working under the same roof. It also serves the purpose of communicating who Vast is to clients, customers, and potential employees. And, importantly, it helps establish trust for a product and service that are firsts of their kind. The office and the space station design have a similar look because they are optimized for human health and well-being. As Ksenia Kagner, who cofounded Civilian with Nicko Elliot, explains, the look and tactility of finishes, the quality of light, and acoustics “either hijacks people’s nervous systems or calms them down.” To that end, the office leans into biophilic design, which has been shown to reduce stress through natural materials, ample daylight, and plenty of plants. This also helps keep people focused on the task at hand instead of being distracted by their environments. Even though Vast is designing technology for the future, its workspace doesn’t bear the hallmarks of a too-slick, tech-forward vision of aerospace. “There’s a level of optimism and faith in humanity behind what they’re doing, which could be in contrast to some of the more dystopic ‘get into space and pull up the drawbridge’ fantasies that also run in this arena,” Elliott says. Mapping “user journeys” Vast operates under the belief that its competitive advantage is vertical integration. Design, engineering, testing, and production all occur in-house. Having communication among these teams was important to Coe. “You get to walk down the hall to ask somebody, ‘Hey, what do you think about this?’ Or ‘Hey, how did this actually work?’” she says. “In aerospace, having all of those teams in one place, talking with each other, seeing each other’s work, is actually pretty revolutionary.” Civilian devised a floor plan that reinforces the company’s integration. On one end of the building, there’s the clean room, where heavy-duty manufacturing takes place. On the opposite end is mission control, where astronauts and researchers would be stationed 24/7 when a space mission is underway. An all-hands space with a kitchen and lounge sits at the center of the building. The internal walls are mostly glass (with very high acoustic properties so you don’t hear drilling while doing heads-down work), providing visual transparency among the teams and assuring that the thing everyone is working toward—the space station—is constantly in view. A ramp, finished in custom aluminum (the primary material Vast uses in its spacecraft), connects them all. “It became this way of creating a user-experience journey,” Elliott says. “You are then brushing against all these different business groups and divisions as you move through the space.” 21st-century mission control One of the most demanding design challenges involved the mission control room, a 2,500-square-foot area where staff would be present at all hours during a space mission. (Vast has yet to send someone to space.) “They were very intent on the idea of eliminating nonengineering information from the field of vision,” Elliott says. The room is spare—just tiers of custom white-oak desks facing a 30-foot-long curved LED screen where critical data will be displayed. Sensory comfort is even more important in this area than the rest of the headquarters. Civilian designed an illuminated ceiling, which disperses even light across the control room, and covered the walls in acoustical panels made of wool in a similar shade of gray as the floors and the IT access panels on the desks. “If you’ve got astronauts’ lives on the line and you’re trying to look to see where the information is to be able to make and assess those quick decisions, you need a space that is designed so that it’s optimizing for decision-making,” Coe says. The high-stress work involved with 24/7 mission control staffing also influenced other areas of the headquarters, including a space furnished with chaise longues for resting and recharging, a gym, and a meditation room. Making space travel approachable Part of making the office look approachable and human-centered is to reflect trustworthiness. If the design is well-thought-out and the team is open and transparent with what it’s making, then there’s more confidence in working with the company. As space commercialization heats up, attracting talented employees and investors is critical. In the future, private travelers, too. It makes space travel seem “more accessible and normal,” Kagner says. “The customer is also critical, because this is ultimately a private business.” The headquarters was completed in 2025. Since then, the feedback Coe has received is that the space makes people feel integrated with Vast’s vision. “That’s what leads to that feeling of ‘I can trust this commercial company . . . with my life, with my research, with my product,” she says. “And that’s really important.” View the full article

In late April, indoor golf and entertainment brand Five Iron Golf launched its first location in Saudi Arabia after nearly three years of coordination with Golf Saudi, an affiliate of the country’s massive sovereign wealth fund. The golf center, located on the ground floor of the Public Investment Fund Tower—the fund’s headquarters and the tallest building in Riyadh—offers a similar mix of simulators, leagues and lessons, and food and music as other Five Iron locations both in the U.S. and abroad, says Jared Solomon, cofounder and CEO of the brand. “People are hitting golf balls, they’re having fun, they’re eating food,” he says. “They’re not drinking, because there’s no drinking there, but they’re having a great time.” Five Iron Golf, which launched in Manhattan in 2017 (the name nods to both the club and Fifth Avenue in the Flatiron District, where it opened its first location), now has more than 40 U.S. venues. The company has expanded abroad through franchise deals in Singapore, Dubai, Spain, and Portugal. The Saudi location opened under a similar arrangement with Golf Saudi. Solomon declined to share details, but says franchise agreements typically include fees of $50,000 to $100,000 per location and about 6% of revenue. Solomon hopes the PIF Tower site will be the first of multiple locations in Saudi Arabia. But the Five Iron launch wasn’t the biggest golf news out of the region this spring. That distinction belongs to the announcement by PIF that it would no longer fund the controversial LIV Golf tour, which has received more than $5 billion in PIF backing since its 2022 launch. In a widely circulated statement, PIF said backing LIV Golf no longer aligns with its current investment strategy, pointing to “investment priorities and current macro dynamics.” (The fund didn’t respond to Fast Company’s requests for comment.) “The bone saw tour” The move follows the Saudi-backed LIV tour’s disruption of the golf world, drawing players away from the gold-standard PGA Tour, which banned players from competing in both. It also raises broader questions about the future direction of the trillion-dollar PIF, which has invested heavily in global tech companies (from Uber to Magic Leap) and through vehicles like the $100 billion SoftBank Vision Fund. It’s also set to acquire a substantial stake in a merged Paramount-Warner Bros. Discovery media business. Under the leadership of Crown Prince Mohammed bin Salman, Saudi Arabia has made clear its ambitions under its Vision 2030 project—a sweeping state-led plan to remake the kingdom’s economy—to transition from an oil-based economy to a hub for business, sports, tourism, and entertainment, powered in part by PIF investments. The country will host the 2034 FIFA World Cup and a 2030 world’s fair-style expo, and PIF recently reaffirmed its commitment to Newcastle United Football Club, maintaining its majority ownership of the Premier League team. Those investments are not purely economic. They’re also intended to reshape the kingdom’s global image after years of scrutiny over human rights violations, limits on women’s rights, and the 2018 murder of journalist Jamal Khashoggi inside the Saudi consulate in Istanbul. “The objective of all of this sports funding is twofold,” says Aaron Ettinger, a political science professor at Carleton University in Ottawa. “One is to make money, and the other one is political. The political objective is to make Saudi Arabia look like a normal country and draw international investments and all that kind of stuff.” The decision to pull back from LIV may reflect the tour’s failure to deliver on either front. As Ettinger notes, upstart leagues often struggle to challenge entrenched competitors like the PGA. (Indeed, recent U.S. sports history is full of failed competitors to the National Football League.) LIV relied heavily on Saudi funding, and it’s not clear that it did anything to boost the country’s image abroad. “It was referred to as the ‘bone saw tour’ when it got started,” Ettinger says. “It just ended up drawing more attention to the kind of stuff about Saudi Arabia that makes people in the West really uncomfortable.” The LIV pullback also comes as the U.S.-Israeli war with Iran has disrupted global oil markets, and as Saudi Arabia has stepped back from other ambitious, high-cost projects, including a planned linear city and a massive cubical building in Riyadh. “I think even before the war started, there were already indications that the PIF was reconsidering how sustainable some of its investments are over the long term,” says Andrew Leber, an assistant professor in Tulane University’s political science department and a non-resident fellow at the Middle East Program within the Carnegie Endowment for International Peace. In mid-April, PIF unveiled a new five-year strategy, marking a shift from “rapid growth and acceleration” to a phase centered on sustained value creation, with an emphasis on efficiency, impact, and stronger governance. Leber says that likely means a renewed focus on domestic investments tied to employment and political stability, and less emphasis on speculative global ventures. The pivot also coincides with rising tensions between Saudi Arabia and the United Arab Emirates, which recently announced plans to exit OPEC, as well as a broader global turn toward economic nationalism, says Salar Ghahramani, a law professor at Penn State University and the president of Global Policy Advisors, a sovereign wealth fund advisory to investment banks and asset managers. “An investing partner with deep pockets” Even so, the shift does not signal an end to Saudi investment abroad. Technology deals and large-scale partnerships, including the Paramount-Warner deal, remain central to the country’s diversification strategy. “If PIF, for instance, thinks that a brand-new deal with Tesla would be to its benefit, I think it would go that way,” Ghahramani says. “I think that generally, so long as their decisions are made by market-savvy individuals and not so much politically driven decisions, I think those global investment and partnership collaborations will continue.” And since there’s no claim that PIF violated any deal with LIV in ending its support of the organization, the end of that arrangement is less likely to worry other businesses considering investment from the wealthy Saudi fund, Ghahramani says, noting, “All kinds of companies, in general, can always benefit from an investing partner with deep pockets.” Carleton University’s Ettinger suggests that tech deals also don’t risk the same kind of negative press that followed the rise of Saudi-backed LIV, as Saudi Arabia positions itself to be “the kind of stable centerpiece of the Middle East” when the Iran war ends. For PIF’s current focus, the deal with Five Iron may prove to be a better-suited investment than a continued role in LIV. The much smaller price tag, of course, may also make the deal easier to continue. And Five Iron’s Solomon argues the company can help expand access to golf within Saudi Arabia while offering a viable commercial return. “We’re laser-focused on making sure it’s a good investment for them—making sure that the people like it and it actually does what they want to do, which is hit their goals of growing the sport of golf,” he says. “And if it can do that, I have no doubt that they will live up to their word and keep expanding things.” View the full article

Here are the 50 most prolific mortgage originators in the U.S. as measured by units produced, according to the 2026 National Mortgage News Top Producers survey. View the full article

The GSEs' financials are strong but odds are against a short-term change to conservatorship that would give stockholders access to their profits, Mizuho said. View the full article