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Retail giant Walmart Inc has confirmed that it will eliminate some jobs. However, the affected positions will not impact the company’s retail staff, which makes up the overwhelming majority of its 1.6 million-strong U.S. workforce. Here’s what you need to know about Walmart’s latest round of layoffs. What’s happened? On Tuesday, the Wall Street Journal reported that Walmart would lay off or relocate around 1,000 members of its corporate workforce, citing people familiar with the situation. Walmart has now confirmed to Fast Company that it is eliminating some roles, without specifying the exact number of positions to be cut. A company spokesperson provided the memo that Suresh Kumar, Walmart’s global CTO and chief development officer, and Daniel Danker, its executive vice president of AI acceleration, product and design, sent to employees on Tuesday, May 12. In the memo, Kumar and Danker announced that Walmart was simplifying its digital operations by reducing its layers of organizational structure. “That includes updating some roles to better match the work being done, bringing teams together where it makes sense, and aligning some roles to key locations where related work is already happening,” the memo stated. Unfortunately, that consolidation of operations means Walmart will also commence with layoffs. The memo states that “Some work has been consolidated, and some roles have been eliminated,” adding that the company was helping those affected “explore other opportunities within Walmart where possible.” Fast Company understands that Walmart considers these changes “conversations,” which the company takes to mean that, while around 1,000 roles are affected, it won’t necessarily mean 1,000 workers are laid off. The company is giving some workers the option to keep their jobs, provided they relocate. The WSJ says the relocation options include the company’s offices in Bentonville, Arkansas, and Northern California. AI not to blame? Despite the changes affecting its digital operations, AI isn’t being used as a scapegoat for the layoffs. Kumar and Danker did not even touch on the topic of artificial intelligence in their memo, and the Wall Street Journal cited a Walmart spokesperson as saying the job cuts are related to operational restructuring rather than AI taking over duties that human workers once performed. That makes these tech-related job layoffs notable; many companies that have cut tech staff in recent months have cited AI adoption as a direct driver. They include Cloudflare, Upwork, and Coinbase—all of which announced job cuts in just the first part of May, as Fast Company previously reported. Walmart’s stock price shrugs off the job cuts Often, when a company cuts jobs, its stock price gets a boost. This is because job cuts are the fastest way to reduce overhead costs and thus boost the bottom line. However, investors seem to have taken the news of the layoffs in stride. The company’s share price closed up around 2% yesterday, which is within the normal range that most stocks move in any given day. In premarket trading this morning, the company’s stock price (NYSE: WMT) is currently down less than 1%. As of yesterday’s close, WMT stock was up 17% year to date, reaching $130.35. Over the past 12 months, WMT stock has risen more than 34%. Walmart’s most recent job cuts come roughly one year after the company cut 1,500 corporate workers last May. View the full article

At my latest networking “meeting” with my bro Alex — also known as a free lunch with a marketing executive who still has a job and a corporate card — we talked about freelance opportunities that might be coming up. We talked about who was hiring, who claimed they were hiring, and which companies were pretending that “lean teams” were somehow a point of pride instead of a warning sign. As we were wrapping up, Alex asked about my runway. “How much longer do you have on unemployment?” he asked, while signing the check. “I never filed for unemployment,” I said. Alex looked at me the way people look at you when you say you’re Team Aubrey. “What do you mean you never filed?” I tried to explain it, but halfway through talking I realized how ridiculous I sounded. I had somehow turned unemployment into this mythical government charity dungeon in my mind. In my head, getting unemployment meant going to someplace with flickering fluorescent lights where desperate people sat in molded plastic chairs waiting for a number to be called. It felt like something other people did. Not me. When I first wrote publicly about losing my job, I joked about “funemployment.” At the time, I still had severance money coming in, savings, and enough confidence to believe another role would appear quickly. And as we now know…you could end up dealing with the five stages of grief every time you see an e-mail that starts with: “Thank you for taking the time…” I am drained and have been for quite some time. The idea of applying for…money with no attachment except that I’m entitled to it just didn’t connect. The truth is, I didn’t understand unemployment at all. I didn’t know whether severance disqualified you. (It does not) I didn’t know if high earners could even receive it. (Yes, they can.) I didn’t know if freelancers were treated differently. (Yes, they are. But you can often still collect.) Most embarrassingly, I didn’t understand that unemployment insurance isn’t charity. I knew, in theory but not in practice. Since my very first job as a teenager, employers have been paying into unemployment insurance systems tied to my labor. Decade after decade. Every paycheck. Every W-2. Every promotion. Every “exciting opportunity.” Every year-end review where someone called me “valuable to the organization” right before letting me go. “You’ve probably generated like 30K into unemployment systems over your career,” Alex said. “Why are you acting like you’re asking somebody for a favor?” That was the part that snapped something into place for me. Because I realized my resistance wasn’t financial. It was psychological. I had attached filing for unemployment to failure. I thought filing meant I had somehow crossed into another category of person. The kind of person waiting for help instead of being the one taking the lunch meetings and giving career advice. But unemployment isn’t a character judgment. It’s literally insurance. Your labor helps fund a system that exists for moments exactly like this No matter how much or how little I’ve paid to insure my car over the years, I’d never feel some type of way for getting the funds for a repair. And here’s the truly humbling part: once I finally filed, the process was almost aggressively normal. I definitely didn’t know that I could file online in under an hour. (Since the pandemic, every state in the US has online registration.) No endless lines. No humiliating interviews under buzzing fluorescent lights. No one asked me to explain how a former executive ended up unemployed in a collapsing marketing economy. Just forms. Verification. Processing time. Then one morning the money showed up. And I was genuinely shocked by both the amount and the duration. Not because it replaced my old salary — it absolutely did not — but because I had expected something symbolic. A couple hundred dollars and a pat on the head. Instead, it was enough to materially slow the bleeding while I continued to figure out my next move. Enough to breathe. Enough to stop making panic decisions. Enough to remember that after decades of work, maybe I didn’t need to feel ashamed for using a system designed specifically for workers who find themselves without work. Maybe I can stop grieving, clear my head and treat someone else to a meal who might need it. View the full article

Since 1946, the Festival de Cannes (a.k.a. the Cannes Film Festival) in France has been a beacon of cinematic excellence and cultural exchange. For those who love the Academy Awards, films such as Parasite and Anora debuted here first before taking home an Oscar. This year promises to continue this worthy legacy despite fewer American entries than normal. Here’s everything you need to know as the festivities kick off this week. How did the Cannes Film Festival begin? In July 1938, a Nazi propaganda film helped inspire Philippe Erlanger to create a new film festival. He was one of many who were displeased that Leni Riefenstahl’s Olympia and Goffredo Alessandrini’s Luciano Serra, Pilot took home the Mussolini Cup at the Venice Mostra due to pressure from Hitler. Erlanger endeavored to create a fair competition based on merit, not politics. The first event was supposed to happen on September 1, 1939, but Germany invaded Poland and World War II was officially declared two days later. The Cannes Film Festival was put on the back burner until peace could be obtained. The first festival would have included films such as The Wizard of Oz by Victor Fleming and Union Pacific by Cecil B. DeMille. Six years later, in 1946, 19 countries finally participated, and Georges Huisman led the international jury. Every nation was awarded a Grand Prix as the world continued to heal from war. America’s entry was Billy Wilder’s The Lost Weekend. Which films should you keep your eye on? Fast-forward to 2026, and 2,541 feature films were submitted for consideration. Twenty-two will be up for the coveted Palme d’Or. South Korean filmmaker Park Chan-wook will preside over the jury that will decide the victor. Other members include director Chloé Zhao, actress Demi Moore, and actor Stellan Skarsgård. There are only two American entries in the competition category of films this year. James Gray’s Paper Tiger was added after the initial announcement. This crime drama tells the story of the Pearl brothers in 1980s Queens. While trying to pursue the American dream, these men get involved with the Russian mafia instead. The film will bring the Hollywood A-listers to the French Riviera as its stars Scarlett Johansson, Adam Driver, and Miles Teller. The other American entry is Ira Sachs’s The Man I Love, starring Rami Malek. It is also set in 1980s New York. The plot centers around Jimmy George, an actor with a life-threatening illness, as he tackles his final role. Ryusuke Hamaguchi’s All of a Sudden is the Japanese filmmaker’s first French movie. Fans are thrilled to see what this exciting voice has to say after his 2021 critically acclaimed flick Drive My Car. This was the first Japanese movie to be nominated for a Best Picture Academy Award. You can find a full list of official sections on the festival’s website. Who is being honored at the 2026 Cannes Film Festival? Beyond films, individuals will also receive awards. Both director and writer Peter Jackson and multi-hyphenate Barbra Streisand will take home Honorary Palme d’Ors. This is essentially a lifetime achievement award for their impressive resumes. Jackson is best known for his work on The Lord of the Rings and Hobbit trilogies. Streisand’s career covers everything from Hello, Dolly! to Meet the Fockers, and that’s not counting her time behind the camera directing and producing. The Cannes Film Festival runs May 12 through 23. View the full article

It’s time to stop calling Gen Z the youngest generation in the workforce. Gen Alpha has entered the chat. Although the oldest Gen Alphas have only just hit their teen years, they are deeply financially motivated and ready to be put to work. If you happen to be living with a Gen Alpha who seems strangely fixated on earning their own money—or who is obsessed with brands and products—you know that we’re raising a generation of hustlers (even if they’re just hustling us). But new data from public relations and marketing firm DKC is shedding even more light on the financial intrigue behind Gen Alpha. The firm surveyed 1,000 parents of 8- to 15-year-olds about their children’s financial interest and conduct. The results build on previous research, which found that Gen Alphas, while mostly still in middle school, are massively savvy financially. According to the new survey, a staggering number of Gen Alphas are already earning an income. In total, 95% are making money. But the ways they’re lining their pockets differ. The bank of mom and dad For now, the earnings mostly come from their parents. Some 85% percent receive an allowance, though most of the parents surveyed (55%) said their kids have to earn it. Good behavior and grades earn money for 67% of Gen Alphas; 78% get paid for doing chores. However, Gen Alphas aren’t just earning inside their homes. More than half (57%) earn money through babysitting, lawn care, and other jobs, while another 14% use the internet to sell or resell items. The earnings are more than pocket change. On average, Gen Alphas have $52 per week of their own money, up from $45 two years ago. That comes out to a whopping $2,704 per year. A wild time to be coming of age The world of Gen Alpha—largely happening online—is made up of influencers doing fascinating and sometimes ridiculous things to earn a buck (or millions of them). Whether it’s platforms based on doing good deeds for others, embarrassing themselves for clicks, or taking on inventive tasks like power-washing neighbors’ trash cans, the options to start earning are regularly in their faces. Likewise, so are brands and products, which is probably why they’re such an influential part of the household when it comes to how money is spent. Per the new research, parents said about half of household spending decisions come from their Gen Alpha child. Some 69% of the parents surveyed said they learn about brands from their Gen Alpha kids; 71% said they’ve even changed their own consumer choices after learning about brands from their child. Sixty-one percent of Gen Alpha parents shop frequently with their children. But they also pay attention to what their kids are looking at online: 54% pay specific attention to influencers their child likes, and nearly half (49%) buy products from ads their child enjoys. And what is Gen Alpha into? No big surprises here. The top categories where the big spenders are shelling out are food (75%), gaming (71%), entertainment (62%), and clothing (62%). It’s not always easy raising a generation of kids who are already so interested in earning and spending money. For starters, they’re constantly ambling for the newest game, pair of shoes, squishy, or viral beverage. However, parents in DKC’s survey said that kids today aren’t just interested in making money; they’re money-smart, too. A decisive 98% of parents of Gen Alpha kids said they’re teaching their kids about budgeting, or are planning to. We know from DKC’s previous research that not only are Gen Alphas attentive to brands (87%), but they also care about a brand’s values (69%). Of course, when millennial parents were kids, issues like how a company treats their employees or whether they were environmentally conscious simply weren’t on our radar. But today, everything about brands is findable online. As with most things, Gen Alphas are usually the first ones to find it. View the full article

Whether it’s giving you workout plans or summarizing your sleep, AI has hit fitness apps hard. In the race to add artificial intelligence features to everything from your music playlists to your weather app, the fitness world has also become flooded with new AI-powered services promising to take your workouts to the next level. Earlier this year, Strava launched Athlete Intelligence, which uses generative AI to create summaries of users’ activities, offering neat little roundups of things like heart rate and pace during runs, bike rides, or walks. Whoop AI, powered by none other than Sam Altman’s OpenAI, leverages biometric data to offer recommendations meant to optimize not just your gym session, but your entire day. Last October, Peloton released its own AI-powered workout planner, Peloton IQ, which offers workout recommendations and live performance feedback. And Apple Fitness+ also, shockingly, gives subscribers custom diet and exercise plans based on their Health data. It costs $9.99 per month. These services all focus on one thing: offering something tailor-made for users, whether that means recommendations to optimize a daily routine, summaries of what’s happening inside the body, or personalized workout plans designed to help people reach the next stage of their fitness journey. “The industry is moving towards the theme of integrated intelligence,” Nick Caldwell, Peloton’s Chief Product Officer, tells Fast Company via email. “Individuals are collecting far more data about themselves than they ever have before and now, they want to apply it to their entire wellness journey, not just to fitness.” It’s true: everyone is tracking everything, all the time. Fitness data collection once offered only a high-level snapshot of performance, but the rise of wearables and wellness apps has created countless new ways to peer into the body and attempt to assess the full picture. Wearing a pedometer now feels quaint. Today, people can track how many steps they take, how much sleep they get, how many calories and grams of protein they consume, and their average heart rate from dawn until dusk. With all of that data already being collected, the next frontier is personalization, which is why so many of these AI features are focused on delivering individualized experiences. Caldwell says the goal now is to build an ecosystem that acts as an all-encompassing operating system for a user’s overall health journey. “As people become more aware of how to harness the power of their health data, they don’t want a generic plan; they want something more tailored,” Caldwell says. “Your workout should adapt to your sleep, your stress, and your specific goals in that exact moment and with Peloton IQ we can be that intersection of data and action that is specific to you.” In the fervor for companies to churn out any and all AI-powered tools, skeptics naturally wonder which products users actually need in their pockets, and what we risk losing when personalization is handed over to the algorithm. Moreover, if users can become their own dietitian, personal trainer, life coach, and wellness guru, what does that spell for the rest of the industry? A Whoop spokesperson tells Fast Company that AI coaching represents the next phase of the industry: turning previously stagnant data into a more active layer of wellness products. “This approach reframes fitness tracking from passive measurement to active decision support, effectively creating a real-time health operating platform,” the spokesperson says. “WHOOP is helping lead this evolution by building one of the first continuous health records and applying AI to support longer-term health and performance outcomes.” David Swartz, a senior equity analyst at Morningstar who specializes in sportswear companies, says that many players across the fitness industry feel pressure to incorporate AI into their business models. “There’s a feeling that companies that don’t use AI may be left behind,” he says. “Companies want their employees to learn AI and to incorporate it into their daily work. Investors are also pushing companies to use AI as they believe that it will increase efficiency and raise valuations.” The growing focus on individual health and wellness has coincided with the arrival of a controversial federal Department of Health and Human Services leadership team. Health Secretary Robert F. Kennedy Jr., a prominent vaccine skeptic, has frequently found himself at odds with medical professionals and public health experts, fueling confusion and concern among Americans who increasingly feel their health is in their own hands. At the same time, interest in private companies and apps that monitor personal health data has surged, whether through wearables like the Apple Watch or ŌURA Ring, or apps like Strava and Apple Fitness that help users track enormous amounts of personal data. And with interest in fitness tech growing among both consumers and political supporters like RFK Jr., some companies appear to be aiming far beyond a personalized AI coach. “WHOOP AI will continue to evolve, becoming more predictive, more personalized, and more powerful over time,” the Whoop spokesperson says. The quantified self, it seems, is no longer content just counting steps. Now it wants a coach, a strategist, and maybe even a second opinion. View the full article

Google had yet another Search Console reporting bug, this time with the Discover performance report. Between May 7, 2026 and May 8, 2026, Google confirmed a data logging issue that can result in the report showing fewer clicks and impressions. It is a reporting issue only and not a Discover ranking issue.View the full article

Google's ALDRIFT framework "opens exciting avenues" toward AI answers that do more than sound plausible. The post Google Research’s ALDRIFT: AI Answers That Do More Than Sound Plausible appeared first on Search Engine Journal. View the full article

Google posted a tease for Google Marketing Live where Google Ads will be announcing new dashboards powered by Gemini. Google wrote on X, "Tired of manual reporting? Introducing Dashboards built with Gemini capabilities."View the full article

If you’re thinking about buying a business, it’s essential to start by identifying what type aligns with your skills and interests. Research is key; explore various platforms and local listings for available opportunities. Comprehending why a business is for sale can reveal important insights. Next, you’ll need to evaluate your budget and resources, along with financing options, including seller financing. This process involves multiple steps that can greatly impact your success. What’s your next move? Key Takeaways Identify your interests and skills to choose a business that aligns with your goals and increases success potential. Research businesses for sale on websites, local publications, and through personal networks to find suitable opportunities. Conduct thorough due diligence to assess financial health, legal compliance, and operational risks before making a purchase. Explore various financing options, including seller financing, to secure the necessary capital for your business acquisition. Prepare all necessary documentation, such as asset acquisition statements and non-compete agreements, to ensure a smooth ownership transition. Figure Out What Type of Business You Want to Buy When you’re thinking about buying a business, how do you figure out what type aligns with your goals and expertise? Start by identifying your interests, skills, and experiences, as these factors increase your chances of success. Reflect on past roles in various industries; they can provide valuable insights into managing a new venture. Next, analyze market demand and trends to guarantee the business has growth potential. Evaluate the financial health of different options, focusing on aspects like existing debt and cash flow. Finally, narrow down your choices by creating a list of ideal business characteristics, such as size, location, and industry. This approach will guide you on how to find a small business to buy, highlighting the advantages of purchasing an existing business. Search for Businesses That Are for Sale As you begin your search for businesses that are for sale, it is crucial to explore various avenues to maximize your options. Start by visiting business-for-sale websites like BizBuySell and BizQuest to find a range of businesses for sale in FL. Don’t overlook local newspapers and industry publications, as they often feature listings not found online. Leverage your personal networks; friends and industry connections can lead you to hidden opportunities. Furthermore, attending industry meetups and conferences can help you build relationships that might open doors for potential acquisitions. Finally, consider engaging a business broker to assist you in steering through the acquisition process. Method Description Business-for-sale websites Explore listings across various industries Local newspapers Find ads that may not be online Personal networks Uncover hidden opportunities Industry events Build relationships for potential leads Business broker Get professional assistance in your search Understand Why an Existing Business Is up for Sale Why do business owners decide to sell their enterprises? Often, it’s due to their retiring, wanting to capitalize on years of investment before stepping away from the market. Changes in personal circumstances, like health issues or family commitments, can prompt owners to divest their businesses as well. Economic challenges, such as declining sales or increased competition, may drive them to sell to mitigate losses. Moreover, lifestyle changes, including pursuing new passions, can lead owners to seek buyers. When you understand why an existing business is up for sale, you can identify potential red flags, like unresolved debts or operational inefficiencies. These insights are vital for making informed decisions when considering a business for sale by owner retiring. Narrow in on a Business That Aligns With Your Budget, Goals and Resources Choosing a business that aligns with your budget, goals, and resources requires careful consideration and planning. When buying a business, focus on these key areas: Budget Evaluation: Assess your financial capabilities and estimate costs for any desired improvements post-purchase. Personal Alignment: Choose a business that matches your interests, skills, and experience, as familiarity with the industry increases your chances of success. Research: Utilize platforms like BizBuySell.com and local newspapers to find opportunities that fit your criteria, and consider engaging with a business broker for expert guidance. Do Your Due Diligence When you’re buying a business, doing your due diligence is essential to avoid future headaches. Start by identifying red flags in the financial statements, as these documents reveal the company’s economic health and any potential issues. Identify Red Flags As you commence on the voyage of buying a business, it’s crucial to identify potential red flags that could signal underlying issues. Conducting thorough due diligence will help you avoid costly mistakes. Here are three key areas to evaluate: Financial Statements: Look for inconsistencies or sudden changes in revenue and expenses, which may indicate hidden problems. Employee Turnover Rates: High turnover and low morale can reveal management issues and operational inefficiencies that might affect long-term stability. Pending Legal Issues: Investigate any ongoing litigation or legal troubles, as these could pose significant risks to the business’s future. Analyze Financial Statements Analyzing financial statements is a critical step in the due diligence process of buying a business. You’ll want to focus on the past three to five years of financial data, including income statements, balance sheets, and cash flow statements, to evaluate profitability and financial health. Look for consistent revenue growth, positive cash flow, and manageable debt levels, as these signal a stable business operation. Be cautious of irregularities, such as aggressive revenue recognition or unexplained expense fluctuations, which may indicate financial mismanagement. Review tax returns to verify reported income, ensuring compliance with tax obligations. Finally, analyze key financial ratios like the current ratio and debt-to-equity ratio to assess operational efficiency and financial stability relative to industry standards. Evaluate the Business With the Income, Assets or Market Approach When you’re evaluating a business, consider using the income, assets, or market approach to gain a clearer comprehension of its value. The income approach focuses on past and projected profits, whereas the assets approach looks at both tangible and intangible assets after liabilities are accounted for. Simultaneously, the market approach compares the business to similar ones in the industry, giving you insights into its competitive stance and overall market value. Income Approach Explained The Income Approach is a key method for valuing a business, especially when you want to understand its future earning potential. This approach focuses on the business’s historical, current, and projected profits, offering a clear view of what it can earn. Here are three key aspects to contemplate: Net Income Calculation: You’ll assess the net income to establish a baseline for value. Capitalization Rate: Apply a capitalization rate to determine the business’s worth based on expected future earnings. Financial Trends: Analyze financial statements from the past three to five years, focusing on cash flow trends, especially for cash flowing businesses for sale. Keep in mind market trends and economic factors that may impact future profitability when using the income approach for valuation. Assets Approach Overview Grasping the Assets Approach is crucial for accurately evaluating a business, especially if it has significant tangible and intangible assets. This method focuses on measuring the company’s assets and subtracting liabilities to determine its net worth. It’s particularly useful for asset-heavy businesses. Key Components Description Tangible Assets Inventory, equipment, and real estate Intangible Assets Brand value and intellectual property Liabilities Outstanding debts or obligations When you consider the assets approach to purchase a small business, you’re gaining a clearer picture of what you’re acquiring. This approach often aligns with the book value, providing a straightforward baseline for negotiations, especially when cash flow is inconsistent. Market Approach Insights Valuing a business accurately can be a complex process, and the market approach offers a practical way to establish fair market value by comparing it to similar businesses that have recently sold. When considering this method to buy a small business, keep these key points in mind: Industry Comparisons: Analyze businesses within the same industry to identify relevant multipliers and sale prices. Recent Transactions: Look for recent sales data to guarantee that your valuation reflects current market conditions. Professional Assistance: Hiring an independent valuation expert can provide an objective assessment, enhancing your comprehension of the business’s worth. Using the market approach helps you make informed decisions, guaranteeing you pay a fair price based on actual market trends. Secure Capital to Make the Purchase Securing capital for a business purchase is a vital step that requires careful consideration of various financing options. You should explore alternatives like SBA 7(a) loans, term loans, and asset-based lending to fund your acquisition. Furthermore, personal savings or support from friends and family can be viable sources of capital. To succeed, calculate the ideal purchase price and assess any costs for desired changes or improvements, ensuring they align with your financial capabilities. Documenting the business acquisition, including financial histories and cash flow analyses, can help reduce perceived risk for lenders. Comprehending the terms of different financing sources, such as interest rates and repayment terms, is essential for making informed financial decisions during the purchase process. Debt Financing Options for Your Business Acquisition When evaluating debt financing options for your business acquisition, you’ll encounter various avenues that can help you secure the necessary funds. Here are three key options to weigh: Senior Debt: Typically offers interest rates of 5-8% and often requires personal guarantees. Mezzanine Debt: Comes with higher rates ranging from 15-25%, sometimes including equity options for lenders. SBA Loans: The Small Business Administration provides loans, like the SBA 7(a), offering up to $5 million for eligible businesses. Understanding these debt financing options for business acquisitions is vital, especially if you’re exploring how to buy an existing business with no money. Assess your financial situation thoroughly to guarantee alignment with your operational strategies and repayment capabilities. Assess How Much Capital You Need for the Purchase Determining how much capital you need for a business purchase is a fundamental step in the acquisition process. Start by calculating the total purchase price, which includes not only the asking price but also extra costs like closing fees, legal expenses, and any necessary renovations. Next, assess your personal financial situation, factoring in your savings to see how much you can contribute upfront. Most lenders will expect a down payment between 10% and 30% of the business purchase price, influenced by your creditworthiness. Furthermore, consider operational costs for the first few months, such as employee salaries and utilities, to guarantee you have enough working capital. Exploring financing options like SBA loans can help minimize your capital requirement considerably. Explore Leasing the Business as a Financing Option Leasing a business can be a strategic way to enter the marketplace without the significant financial burden of an outright purchase. By choosing leasing, you can benefit from several advantages: Lower Initial Costs: Lease agreements typically demand less upfront capital, easing your cash flow concerns. Flexibility in Decision-Making: Many leases include options to buy later, letting you evaluate the business’s performance before committing to purchasing a business. Improved Creditworthiness: Timely lease payments can positively impact your credit score, making future financing for a purchase more accessible. Consider Partnering up for Shared Investment When you’re considering buying a business, partnering up can greatly ease the financial load by pooling resources. By combining your skills with a partner who’s complementary expertise, you improve your chances of success as you tackle operational challenges more effectively. Furthermore, shared investment opens the door to larger opportunities that may otherwise be inaccessible, making it a strategic move in your business acquisition expedition. Pooling Financial Resources Pooling financial resources with partners can be a strategic move when buying a business, as it amplifies your purchasing influence and opens the door to more lucrative opportunities. Consider the following benefits: Increased Purchasing Strength: You can acquire larger or more profitable businesses than you could alone, making buying an established business more feasible. Shared Financial Risk: Each partner shares the burden of potential losses and liabilities, reducing the financial strain on any one individual during a company purchase. Enhanced Access to Financing: Lenders often view partnerships favorably, seeing them as lower-risk propositions that may provide more favorable financing options. Creating a clear partnership agreement outlining contributions, roles, and profit-sharing can help avoid future misunderstandings and disputes. Combining Expertise and Skills Partnering with individuals who’ve complementary skills can greatly improve your chances of success when buying a business. By collaborating with partners who excel in areas like finance, marketing, or management, you can leverage their expertise to improve operational efficiency. Shared investment additionally lightens the financial load, making it easier to secure funding and manage costs, especially in capital-intensive industries. Furthermore, forming a partnership expands your network and access to valuable industry insights, boosting growth opportunities. This collaboration balances decision-making responsibilities, as diverse perspectives lead to more informed choices. Just make sure you establish a clear partnership agreement that outlines roles, responsibilities, and profit-sharing to prevent conflicts and guarantee smooth operations. Utilize Personal or Family Money to Finance Your Purchase Utilizing personal or family money to finance your business purchase offers distinct advantages that can simplify the acquisition process. When you decide to buy a cash flowing business, consider these benefits: Immediate Access to Capital: Personal savings or family loans provide quick funding without the lengthy approval from traditional lenders. Flexibility in Terms: You can negotiate repayment terms directly, avoiding the strict conditions often imposed by banks. Stronger Commitment: Investing personal or family money can boost your commitment to the venture, making you more invested in its success. Understand Seller Financing as a Payment Option When considering financing options for purchasing a business, seller financing can be an appealing alternative to traditional methods. This approach allows you to pay a portion of the purchase price over time, often through a promissory note, which is helpful if you lack sufficient cash or traditional financing. Seller financing typically covers 10% to 50% of the purchase price, depending on the seller’s willingness and your qualifications. Interest rates usually range from 5% to 9%, with flexible repayment terms that can align with your cash flow. Comprehending seller financing can strengthen your negotiating position, as it reflects the seller’s confidence in the business’s future. This option is essential in learning how to buy a corporation effectively. Complete the Deal With the Appropriate Documentation Completing the deal with the appropriate documentation is crucial for guaranteeing a smooth changeover of ownership when purchasing a business. To avoid complications, follow these steps to buying a business effectively: Prepare an asset acquisition statement (IRS Form 8594) for tax purposes during the closing process. Execute a bill of sale to officially transfer ownership of the business assets from the seller to you. Comply with local bulk sale laws to notify authorities and confirm that all legal obligations are met. Additionally, include non-compete agreements to protect your interests and verify all necessary licenses, permits, and paperwork are confirmed before finalizing any deal, especially if you’re exploring options like a business for sale no money down. Frequently Asked Questions What Do I Do if I Want to Buy a Business? If you want to buy a business, start by identifying your interests, skills, and experience to find a suitable match. Next, research available businesses using online platforms, newspapers, and your network. Conduct due diligence by reviewing financial documents and evaluating the business’s health. Assess its valuation through income, asset, and market approaches. Finally, consult with business brokers and legal advisors to effectively navigate negotiations and guarantee a successful deal closure. How Much Down Payment for a $500,000 Business Loan? When seeking a $500,000 business loan, you’ll typically need a down payment of 10% to 30%, which amounts to $50,000 to $150,000. A larger down payment, ideally around 20% or $100,000, can improve your chances of approval by reducing lender risk. Lenders likewise review your personal financial history, business plan, and cash flow. Don’t forget to account for additional costs like closing fees and working capital, which may require a higher initial investment. How Much Is a Business Worth With $100,000 in Sales? A business with $100,000 in sales typically values between $50,000 and $250,000. This range depends on factors like net profit margins, operational efficiencies, and market demand. Using an EBITDA multiple, you might see figures from 2.5 to 5 times earnings. For serious buyers, a net profit of $20,000 to $30,000 is ideal for a 20-30% return on investment. Furthermore, asset-based valuations can further influence the final worth. How Much Money Do You Need Down to Buy a Business? To buy a business, you typically need a down payment ranging from 10% to 30% of the purchase price. For SBA loans, a minimum of 10% is common, but it can vary based on the business’s financial health and your creditworthiness. Furthermore, consider extra costs like closing fees, legal expenses, and immediate operational needs, which may require an extra 5% to 15%. Prepare thorough financial documentation to support your financing efforts. Conclusion To summarize, buying a business requires careful planning and thorough research. By determining the type of business that suits your skills and interests, exploring available options, and conducting due diligence, you can make an informed decision. Consider your budget and financing methods, including seller financing, to facilitate your purchase. Ensuring all documentation is in order will help you complete the transaction smoothly. With the right approach, you can successfully navigate the business acquisition process. Image via Google Gemini and ArtSmart This article, "Want to Buy a Business?" was first published on Small Business Trends View the full article

If you’re thinking about buying a business, it’s essential to start by identifying what type aligns with your skills and interests. Research is key; explore various platforms and local listings for available opportunities. Comprehending why a business is for sale can reveal important insights. Next, you’ll need to evaluate your budget and resources, along with financing options, including seller financing. This process involves multiple steps that can greatly impact your success. What’s your next move? Key Takeaways Identify your interests and skills to choose a business that aligns with your goals and increases success potential. Research businesses for sale on websites, local publications, and through personal networks to find suitable opportunities. Conduct thorough due diligence to assess financial health, legal compliance, and operational risks before making a purchase. Explore various financing options, including seller financing, to secure the necessary capital for your business acquisition. Prepare all necessary documentation, such as asset acquisition statements and non-compete agreements, to ensure a smooth ownership transition. Figure Out What Type of Business You Want to Buy When you’re thinking about buying a business, how do you figure out what type aligns with your goals and expertise? Start by identifying your interests, skills, and experiences, as these factors increase your chances of success. Reflect on past roles in various industries; they can provide valuable insights into managing a new venture. Next, analyze market demand and trends to guarantee the business has growth potential. Evaluate the financial health of different options, focusing on aspects like existing debt and cash flow. Finally, narrow down your choices by creating a list of ideal business characteristics, such as size, location, and industry. This approach will guide you on how to find a small business to buy, highlighting the advantages of purchasing an existing business. Search for Businesses That Are for Sale As you begin your search for businesses that are for sale, it is crucial to explore various avenues to maximize your options. Start by visiting business-for-sale websites like BizBuySell and BizQuest to find a range of businesses for sale in FL. Don’t overlook local newspapers and industry publications, as they often feature listings not found online. Leverage your personal networks; friends and industry connections can lead you to hidden opportunities. Furthermore, attending industry meetups and conferences can help you build relationships that might open doors for potential acquisitions. Finally, consider engaging a business broker to assist you in steering through the acquisition process. Method Description Business-for-sale websites Explore listings across various industries Local newspapers Find ads that may not be online Personal networks Uncover hidden opportunities Industry events Build relationships for potential leads Business broker Get professional assistance in your search Understand Why an Existing Business Is up for Sale Why do business owners decide to sell their enterprises? Often, it’s due to their retiring, wanting to capitalize on years of investment before stepping away from the market. Changes in personal circumstances, like health issues or family commitments, can prompt owners to divest their businesses as well. Economic challenges, such as declining sales or increased competition, may drive them to sell to mitigate losses. Moreover, lifestyle changes, including pursuing new passions, can lead owners to seek buyers. When you understand why an existing business is up for sale, you can identify potential red flags, like unresolved debts or operational inefficiencies. These insights are vital for making informed decisions when considering a business for sale by owner retiring. Narrow in on a Business That Aligns With Your Budget, Goals and Resources Choosing a business that aligns with your budget, goals, and resources requires careful consideration and planning. When buying a business, focus on these key areas: Budget Evaluation: Assess your financial capabilities and estimate costs for any desired improvements post-purchase. Personal Alignment: Choose a business that matches your interests, skills, and experience, as familiarity with the industry increases your chances of success. Research: Utilize platforms like BizBuySell.com and local newspapers to find opportunities that fit your criteria, and consider engaging with a business broker for expert guidance. Do Your Due Diligence When you’re buying a business, doing your due diligence is essential to avoid future headaches. Start by identifying red flags in the financial statements, as these documents reveal the company’s economic health and any potential issues. Identify Red Flags As you commence on the voyage of buying a business, it’s crucial to identify potential red flags that could signal underlying issues. Conducting thorough due diligence will help you avoid costly mistakes. Here are three key areas to evaluate: Financial Statements: Look for inconsistencies or sudden changes in revenue and expenses, which may indicate hidden problems. Employee Turnover Rates: High turnover and low morale can reveal management issues and operational inefficiencies that might affect long-term stability. Pending Legal Issues: Investigate any ongoing litigation or legal troubles, as these could pose significant risks to the business’s future. Analyze Financial Statements Analyzing financial statements is a critical step in the due diligence process of buying a business. You’ll want to focus on the past three to five years of financial data, including income statements, balance sheets, and cash flow statements, to evaluate profitability and financial health. Look for consistent revenue growth, positive cash flow, and manageable debt levels, as these signal a stable business operation. Be cautious of irregularities, such as aggressive revenue recognition or unexplained expense fluctuations, which may indicate financial mismanagement. Review tax returns to verify reported income, ensuring compliance with tax obligations. Finally, analyze key financial ratios like the current ratio and debt-to-equity ratio to assess operational efficiency and financial stability relative to industry standards. Evaluate the Business With the Income, Assets or Market Approach When you’re evaluating a business, consider using the income, assets, or market approach to gain a clearer comprehension of its value. The income approach focuses on past and projected profits, whereas the assets approach looks at both tangible and intangible assets after liabilities are accounted for. Simultaneously, the market approach compares the business to similar ones in the industry, giving you insights into its competitive stance and overall market value. Income Approach Explained The Income Approach is a key method for valuing a business, especially when you want to understand its future earning potential. This approach focuses on the business’s historical, current, and projected profits, offering a clear view of what it can earn. Here are three key aspects to contemplate: Net Income Calculation: You’ll assess the net income to establish a baseline for value. Capitalization Rate: Apply a capitalization rate to determine the business’s worth based on expected future earnings. Financial Trends: Analyze financial statements from the past three to five years, focusing on cash flow trends, especially for cash flowing businesses for sale. Keep in mind market trends and economic factors that may impact future profitability when using the income approach for valuation. Assets Approach Overview Grasping the Assets Approach is crucial for accurately evaluating a business, especially if it has significant tangible and intangible assets. This method focuses on measuring the company’s assets and subtracting liabilities to determine its net worth. It’s particularly useful for asset-heavy businesses. Key Components Description Tangible Assets Inventory, equipment, and real estate Intangible Assets Brand value and intellectual property Liabilities Outstanding debts or obligations When you consider the assets approach to purchase a small business, you’re gaining a clearer picture of what you’re acquiring. This approach often aligns with the book value, providing a straightforward baseline for negotiations, especially when cash flow is inconsistent. Market Approach Insights Valuing a business accurately can be a complex process, and the market approach offers a practical way to establish fair market value by comparing it to similar businesses that have recently sold. When considering this method to buy a small business, keep these key points in mind: Industry Comparisons: Analyze businesses within the same industry to identify relevant multipliers and sale prices. Recent Transactions: Look for recent sales data to guarantee that your valuation reflects current market conditions. Professional Assistance: Hiring an independent valuation expert can provide an objective assessment, enhancing your comprehension of the business’s worth. Using the market approach helps you make informed decisions, guaranteeing you pay a fair price based on actual market trends. Secure Capital to Make the Purchase Securing capital for a business purchase is a vital step that requires careful consideration of various financing options. You should explore alternatives like SBA 7(a) loans, term loans, and asset-based lending to fund your acquisition. Furthermore, personal savings or support from friends and family can be viable sources of capital. To succeed, calculate the ideal purchase price and assess any costs for desired changes or improvements, ensuring they align with your financial capabilities. Documenting the business acquisition, including financial histories and cash flow analyses, can help reduce perceived risk for lenders. Comprehending the terms of different financing sources, such as interest rates and repayment terms, is essential for making informed financial decisions during the purchase process. Debt Financing Options for Your Business Acquisition When evaluating debt financing options for your business acquisition, you’ll encounter various avenues that can help you secure the necessary funds. Here are three key options to weigh: Senior Debt: Typically offers interest rates of 5-8% and often requires personal guarantees. Mezzanine Debt: Comes with higher rates ranging from 15-25%, sometimes including equity options for lenders. SBA Loans: The Small Business Administration provides loans, like the SBA 7(a), offering up to $5 million for eligible businesses. Understanding these debt financing options for business acquisitions is vital, especially if you’re exploring how to buy an existing business with no money. Assess your financial situation thoroughly to guarantee alignment with your operational strategies and repayment capabilities. Assess How Much Capital You Need for the Purchase Determining how much capital you need for a business purchase is a fundamental step in the acquisition process. Start by calculating the total purchase price, which includes not only the asking price but also extra costs like closing fees, legal expenses, and any necessary renovations. Next, assess your personal financial situation, factoring in your savings to see how much you can contribute upfront. Most lenders will expect a down payment between 10% and 30% of the business purchase price, influenced by your creditworthiness. Furthermore, consider operational costs for the first few months, such as employee salaries and utilities, to guarantee you have enough working capital. Exploring financing options like SBA loans can help minimize your capital requirement considerably. Explore Leasing the Business as a Financing Option Leasing a business can be a strategic way to enter the marketplace without the significant financial burden of an outright purchase. By choosing leasing, you can benefit from several advantages: Lower Initial Costs: Lease agreements typically demand less upfront capital, easing your cash flow concerns. Flexibility in Decision-Making: Many leases include options to buy later, letting you evaluate the business’s performance before committing to purchasing a business. Improved Creditworthiness: Timely lease payments can positively impact your credit score, making future financing for a purchase more accessible. Consider Partnering up for Shared Investment When you’re considering buying a business, partnering up can greatly ease the financial load by pooling resources. By combining your skills with a partner who’s complementary expertise, you improve your chances of success as you tackle operational challenges more effectively. Furthermore, shared investment opens the door to larger opportunities that may otherwise be inaccessible, making it a strategic move in your business acquisition expedition. Pooling Financial Resources Pooling financial resources with partners can be a strategic move when buying a business, as it amplifies your purchasing influence and opens the door to more lucrative opportunities. Consider the following benefits: Increased Purchasing Strength: You can acquire larger or more profitable businesses than you could alone, making buying an established business more feasible. Shared Financial Risk: Each partner shares the burden of potential losses and liabilities, reducing the financial strain on any one individual during a company purchase. Enhanced Access to Financing: Lenders often view partnerships favorably, seeing them as lower-risk propositions that may provide more favorable financing options. Creating a clear partnership agreement outlining contributions, roles, and profit-sharing can help avoid future misunderstandings and disputes. Combining Expertise and Skills Partnering with individuals who’ve complementary skills can greatly improve your chances of success when buying a business. By collaborating with partners who excel in areas like finance, marketing, or management, you can leverage their expertise to improve operational efficiency. Shared investment additionally lightens the financial load, making it easier to secure funding and manage costs, especially in capital-intensive industries. Furthermore, forming a partnership expands your network and access to valuable industry insights, boosting growth opportunities. This collaboration balances decision-making responsibilities, as diverse perspectives lead to more informed choices. Just make sure you establish a clear partnership agreement that outlines roles, responsibilities, and profit-sharing to prevent conflicts and guarantee smooth operations. Utilize Personal or Family Money to Finance Your Purchase Utilizing personal or family money to finance your business purchase offers distinct advantages that can simplify the acquisition process. When you decide to buy a cash flowing business, consider these benefits: Immediate Access to Capital: Personal savings or family loans provide quick funding without the lengthy approval from traditional lenders. Flexibility in Terms: You can negotiate repayment terms directly, avoiding the strict conditions often imposed by banks. Stronger Commitment: Investing personal or family money can boost your commitment to the venture, making you more invested in its success. Understand Seller Financing as a Payment Option When considering financing options for purchasing a business, seller financing can be an appealing alternative to traditional methods. This approach allows you to pay a portion of the purchase price over time, often through a promissory note, which is helpful if you lack sufficient cash or traditional financing. Seller financing typically covers 10% to 50% of the purchase price, depending on the seller’s willingness and your qualifications. Interest rates usually range from 5% to 9%, with flexible repayment terms that can align with your cash flow. Comprehending seller financing can strengthen your negotiating position, as it reflects the seller’s confidence in the business’s future. This option is essential in learning how to buy a corporation effectively. Complete the Deal With the Appropriate Documentation Completing the deal with the appropriate documentation is crucial for guaranteeing a smooth changeover of ownership when purchasing a business. To avoid complications, follow these steps to buying a business effectively: Prepare an asset acquisition statement (IRS Form 8594) for tax purposes during the closing process. Execute a bill of sale to officially transfer ownership of the business assets from the seller to you. Comply with local bulk sale laws to notify authorities and confirm that all legal obligations are met. Additionally, include non-compete agreements to protect your interests and verify all necessary licenses, permits, and paperwork are confirmed before finalizing any deal, especially if you’re exploring options like a business for sale no money down. Frequently Asked Questions What Do I Do if I Want to Buy a Business? If you want to buy a business, start by identifying your interests, skills, and experience to find a suitable match. Next, research available businesses using online platforms, newspapers, and your network. Conduct due diligence by reviewing financial documents and evaluating the business’s health. Assess its valuation through income, asset, and market approaches. Finally, consult with business brokers and legal advisors to effectively navigate negotiations and guarantee a successful deal closure. How Much Down Payment for a $500,000 Business Loan? When seeking a $500,000 business loan, you’ll typically need a down payment of 10% to 30%, which amounts to $50,000 to $150,000. A larger down payment, ideally around 20% or $100,000, can improve your chances of approval by reducing lender risk. Lenders likewise review your personal financial history, business plan, and cash flow. Don’t forget to account for additional costs like closing fees and working capital, which may require a higher initial investment. How Much Is a Business Worth With $100,000 in Sales? A business with $100,000 in sales typically values between $50,000 and $250,000. This range depends on factors like net profit margins, operational efficiencies, and market demand. Using an EBITDA multiple, you might see figures from 2.5 to 5 times earnings. For serious buyers, a net profit of $20,000 to $30,000 is ideal for a 20-30% return on investment. Furthermore, asset-based valuations can further influence the final worth. How Much Money Do You Need Down to Buy a Business? To buy a business, you typically need a down payment ranging from 10% to 30% of the purchase price. For SBA loans, a minimum of 10% is common, but it can vary based on the business’s financial health and your creditworthiness. Furthermore, consider extra costs like closing fees, legal expenses, and immediate operational needs, which may require an extra 5% to 15%. Prepare thorough financial documentation to support your financing efforts. Conclusion To summarize, buying a business requires careful planning and thorough research. By determining the type of business that suits your skills and interests, exploring available options, and conducting due diligence, you can make an informed decision. Consider your budget and financing methods, including seller financing, to facilitate your purchase. Ensuring all documentation is in order will help you complete the transaction smoothly. With the right approach, you can successfully navigate the business acquisition process. Image via Google Gemini and ArtSmart This article, "Want to Buy a Business?" was first published on Small Business Trends View the full article

Google at some point added a section to this Google Ads document explaining that because of all the new Google AI search features, like Lens, AI Mode, AI Overviews, or auto-complete searches - the search terms report now may show keywords that "represents the best approximation of the user's intent."View the full article

When managing a small business, comprehension of payment solutions is crucial for maintaining healthy cash flow and ensuring customer satisfaction. You have several options, such as Merchant Account Providers and Payment Service Providers, each with unique benefits. Furthermore, incorporating mobile payments and secure gateways can improve your operations. Nevertheless, selecting the right provider and addressing common challenges can be complex. Exploring these factors can greatly impact your business’s efficiency and growth. Key Takeaways Merchant Account Providers offer dedicated accounts for secure payment processing, ideal for businesses with higher transaction volumes. Payment Service Providers (PSPs) simplify setup by aggregating multiple accounts, making them suitable for smaller businesses. A Payment Gateway encrypts payment data, ensuring secure transactions and compliance with PCI DSS standards. Integration capabilities with existing POS and accounting systems streamline operations and reduce manual errors. Diverse payment options enhance customer satisfaction and improve cash flow management for small businesses. Understanding Payment Processing for Small Businesses Comprehending payment processing is critical for small businesses, especially as cashless transactions become increasingly common. Payment processing enables you to accept debit and credit cards, which is fundamental in today’s economy. The process involves three key stages: initiation, authorization, and settlement, ensuring secure transactions between you and your customers. In 2022, U.S. businesses faced $160.7 billion in processing fees during managing over $10 trillion in payments, underscoring the financial impact on small businesses. Effective payment processing improves your cash flow, elevates customer satisfaction with various payment options, and encourages sales and loyalty. Security measures, including encryption and compliance with PCI DSS standards, are crucial in protecting customer data and preventing fraud. If you’re seeking ways to manage these costs, exploring government grant money for small businesses and free grant money for small business could provide financial relief to improve your payment processing capabilities. Types of Payment Solutions Available When considering payment solutions for your small business, you’ll find two primary options: Merchant Account Providers and Payment Service Providers (PSPs). Merchant Account Providers offer dedicated bank accounts to process credit and debit card payments, whereas PSPs, like Stripe and Square, streamline the setup by combining multiple accounts under one service. Comprehending these options can help you choose the best solution customized to your business needs. Merchant Account Providers Merchant account providers play a crucial role in enabling small businesses to accept credit and debit card payments effectively. These specialized bank accounts allow for dedicated transaction processing, giving you more control over your sales. Although the setup process can be complex and may deter some, the personalized service and support offered often justify this effort. You’ll find that fees vary, with transaction costs based on sales percentages, which can be lower for high-volume businesses. Nevertheless, you’ll need to undergo an underwriting process that reviews your financial health. If you’re seeking additional funding, consider small business hardship grants or grants for businesses, as they might help cover costs, potentially providing free grant money for business growth. Payment Service Providers Payment Service Providers (PSPs) have become essential tools for small businesses looking to streamline their payment processing. By aggregating multiple merchant accounts, PSPs allow you to accept various payment methods without the hassle of complex setups. Popular options like Stripe and Square lead the market, providing user-friendly interfaces that appeal to your limited resources. Although PSPs may charge higher transaction fees than traditional providers, their streamlined onboarding processes are beneficial. Many likewise offer built-in security features, such as PCI DSS compliance and data encryption, ensuring your customers’ payment information is protected. Moreover, PSPs integrate easily with existing e-commerce platforms and POS systems, enhancing transaction efficiency. Whereas services like PayPal and Venmo support mobile payments and recurring billing, catering to a cashless economy. Key Components of Payment Systems Comprehending the key components of payment systems is essential for small businesses looking to streamline their transactions. Grasping these elements can help you create a more efficient payment process. Component Description Payment Gateway Encrypts and authorizes payment data, acting as a bridge between customer and processor. Payment Processor Mediates communication between banks, verifying funds and transferring them. Merchant Account Temporarily holds funds before transferring to your bank account; can be dedicated or aggregated. Data Security Maintains security through encryption and PCI DSS compliance, protecting sensitive customer information. Integration Guarantees seamless connection between your payment gateway, processor, and accounting systems. Each component plays an essential role in guaranteeing secure, efficient transactions for your business. By grasping how they work together, you can improve your payment processing strategy. Importance of Efficient Payment Processing Efficient payment processing is crucial for managing your cash flow effectively, as it guarantees that transactions happen quickly and smoothly. When payments are processed without delays, you can better handle daily expenses and improve your business operations. Cash Flow Management When small businesses prioritize efficient payment processing, they improve their cash flow management, allowing them to quickly receive payments and meet their financial obligations. Efficient systems enable you to cover daily expenses and seize growth opportunities without delay. In 2022, U.S. Chamber of Commerce businesses incurred $160.7 billion in processing fees, highlighting the need for cost-effective solutions that maximize profitability. Furthermore, offering various payment options boosts customer satisfaction and can lead to increased sales, further boosting cash flow. Effective processing systems additionally help reduce chargebacks and disputes, alleviating financial strain. Enhanced Transaction Speed In today’s fast-paced business environment, achieving improved transaction speed is vital for small businesses working to optimize their operations and financial health. Faster payment processing directly improves cash flow, allowing you to manage daily expenses more effectively. In 2022, U.S. businesses processed over $10 trillion in payments, underscoring the need for quick transaction handling. When you implement efficient payment solutions, you can seize more sales opportunities, as customers favor seamless and rapid transaction experiences. Instantaneous fund transfers help you maintain liquidity, fundamental for operations with limited financial resources. Additionally, efficient systems reduce the risk of lost sales because of technical issues or slow processing times, ultimately supporting your business growth and improving customer satisfaction. Challenges Small Businesses Face With Payment Solutions Although small businesses play a vital role in the economy, they often encounter significant challenges regarding payment solutions. High transaction fees can severely impact your profit margins, with credit card processing costs sometimes reaching hundreds of dollars each month. Furthermore, limited resources for security measures make your business more vulnerable to fraud, leading to potential financial losses. Compliance with regulations, like PCI DSS, can be complex and time-consuming, especially if you lack the expertise to navigate these requirements. Technical issues, such as software glitches or hardware malfunctions, can disrupt payment processing, resulting in lost sales. Finally, managing chargebacks becomes a significant burden, requiring time-consuming paperwork and communication with banks and customers, further straining your resources. Grasping these challenges is vital for you to effectively address them and improve your payment solutions. Selecting the Right Payment Processing Provider Choosing the right payment processing provider is vital for small businesses aiming to streamline operations and improve customer experiences. Start by evaluating transaction fees, which usually include a percentage of the transaction amount plus a fixed fee. Comprehending this cost structure helps avoid hidden charges. Next, assess the provider’s security measures, confirming they meet PCI DSS compliance and data encryption standards. This protects customer information and reduces fraud risks. Integration capabilities are likewise significant; verify compatibility with your existing POS systems and accounting software to minimize manual errors. Consider the level of customer support offered, including technical assistance and training resources. Finally, choose a provider that can adapt to evolving payment preferences and support your business as it grows. Feature Importance Considerations Transaction Fees Affects overall cost Compare different providers Security Measures Protects customer data Look for PCI DSS compliance Integration Capabilities Streamlines operations Verify compatibility with systems Best Practices for Payment Processing in Small Businesses To optimize payment processing, small businesses should adopt best practices that boost efficiency and customer satisfaction. Start by evaluating multiple payment processors to find the best fit for your needs, balancing transaction fees, security, and integration. Implementing automated payment collection systems can greatly reduce administrative tasks and late payments, improving cash flow. Consider these best practices: Diversify payment options: Offer mobile payments and digital wallets to attract more customers. Regularly review costs: Keep an eye on transaction fees and compliance requirements to maintain profitability. Train your staff: Make sure your team understands the payment systems and security protocols to improve transaction efficiency. Monitor performance: Regularly assess your payment processes to identify areas for enhancement. Frequently Asked Questions What Is the Best Payment System for a Small Business? To determine the best payment system for your small business, consider user-friendly options like Square or Stripe. Evaluate transaction fees, typically around 2.9% plus 30 cents, to understand total costs. Make sure the system integrates with your existing POS and accounting software to streamline operations. Prioritize security features, such as PCI DSS compliance, to protect customer data. Furthermore, offering various payment methods can improve customer satisfaction and eventually boost your sales. Is Zelle or Venmo Better for Small Business? When deciding between Zelle and Venmo for your small business, consider your transaction needs. Zelle offers fee-free, instant bank transfers, making it ideal for larger transactions. Conversely, Venmo charges a fee of 1.9% plus 10 cents, which can affect your profits. Although Venmo allows for public profiles to improve customer engagement, it may not be as seamless for direct bank transactions. Your choice should align with your business’s transaction volume and marketing strategy. What’s the Cheapest Way to Take Card Payments? The cheapest way to take card payments often involves using payment processors that offer interchange-plus pricing. This model typically reduces transaction fees, making it ideal for businesses with higher sales volumes. Providers like Payment Depot and Stax can be more cost-effective in these cases. For smaller businesses with less volume, flat-rate options like Square may be beneficial. Furthermore, utilizing mobile payment solutions, such as PayPal, might likewise lower transaction costs. What Is the Best Billing Software for Small Businesses? The best billing software for small businesses typically includes features like recurring billing, invoicing, and payment tracking. QuickBooks stands out for extensive financial tools, whereas FreshBooks is praised for its user-friendly interface. Zoho Invoice and Bill.com offer customizable templates and automated reminders, which can help you reduce late payments. When selecting software, consider cost, security features like PCI compliance, and ease of integration with your existing accounting systems to guarantee a smooth process. Conclusion In summary, choosing the right payment solutions is crucial for your small business’s success. By comprehending the types of payment options available and their key components, you can streamline transactions and improve customer satisfaction. Addressing challenges and selecting a reliable provider will increase your payment processing efficiency. Implementing best practices guarantees security and compliance, eventually contributing to better cash flow. Prioritizing these aspects allows you to focus on growing your business as you provide a seamless payment experience for your customers. Image via Google Gemini This article, "7 Essential Payment Solutions for Small Business Pay" was first published on Small Business Trends View the full article

A new study from Ahrefs says that adding schema does not and did not boost citations on any of the AI platforms including Google (AI Overviews or AI Mode), ChatGPT and others. "Adding schema produced no major uplift in citations on any platform," Ahrefs wrote.View the full article

Google is testing a new AI assistant in Google Merchant Center named Merchant Advisor. I assume it is similar to Google Ads Advisor and something that Google might announce at Google Marketing Live next week.View the full article

Optimization and legibility are not the same thing. Adobe's 2026 AI traffic data shows which one actually drives the 393% growth in AI-referred retail conversions. The post Lessons Learned From Adobe’s 2026 Q2 AI Traffic Report appeared first on Search Engine Journal. View the full article

Link building has to evolve. For years, SEOs measured visibility through keywords, rankings, links, and click-through traffic. Those things still matter. But the return signal has weakened, especially at the top of the funnel. The bigger shift is how your prospective customers solve problems. Buyers* no longer have to compress a question, constraint, fear, or doubt into a keyword. They can ask AI systems in natural language, add context, and explain what they need in order to make the best decision for their situation. If teams sleep on that shift, they’re going to wake up with visibility nightmares they can’t explain with old SEO metrics. That changes the job for link builders. The goal was never just more links. Link builders needed to earn visibility on converting pages. Now, we have to move closer to the decision: what information a buyer needs, whether that information exists, and which sources AI systems can retrieve, trust, and use. Link building has to evolve into citation optimization. *Buyer is shorthand for the practitioners, stakeholders, and decision participants trying to solve a problem your offering can help address. AI search changes what SEO visibility means Still hyper-focused on top-of-funnel visibility? That era isn’t gone, but it doesn’t create the same impact. Ranking for broad, buyer-relevant topics can still help. So can visibility in the related searches and sources AI systems pull from when a decision-stage prompt needs fresh information. SEO fundamentals still matter: useful content, trusted references, authority, source consistency, clarity, and strong links. But the old chain (earn the link, support the ranking, get the click, prove the impact) has weakened. SEO and link building built an entire operating model around keywords because keywords were the unit of measurement available to us. But keywords were always a compressed version of the real problem. A person had a question, a constraint, a fear, a decision to make, or a job to get done. To use search, they had to translate that into a keyword. AI changes that behavior. People can ask in natural language, add context from prior interactions, and explain what they’re trying to solve, what they already know, and where they’re stuck. That sounds simple, but it creates a deeper mindset shift for SEO teams. The work has to shift from ranking for the keyword to helping the person solve the underlying problem. That is the basis for citation optimization: helping AI systems find useful source material for the decision, instead of treating another link as the whole job. AI surfaces the questions your buyers used to ask sales We’ve seen this with successful enterprise brands that have massive search visibility yet fail to appear in key answers when buyers use AI tools to evaluate solutions. The business ranks for loads of keywords and gets millions of site visitors. Then someone within the organization asked a specific question tied to a buyer’s pain point and service, and the brand didn’t rank among the answers. Competitors did. Google’s AI Mode didn’t surface them because it lacked sufficient context to confidently identify, cite, include, and recommend their brand as a leading solution for those specific buyer questions. These aren’t keyword-based questions. They’re buyer-side questions that used to surface only during sales calls: clarification, fit, use case, proof, and implementation questions that buyers ask once they’re deep into consideration and due diligence. Traditionally, that information lived in sales reps’ heads and a few internal sales enablement assets. They’d use context during calls to figure out the buyer’s specific needs and match them to the service. Buyers do that research now when shortlisting options (our recent behavioral study confirmed that buyer behavior has shifted with AI mode and AIOs). The link builder’s job (yes, it’s up to us… we’re still frontline with publishers) is now to pull that information out of the organization and use it in places that AI tools review for answers. Not just backlinks. This means link builders need access to key sales and implementation diagnostics insight. Once those questions surface, keyword coverage alone won’t do it. It can show demand, but it won’t show what a buyer needs to understand before they trust a recommendation. And it won’t cover the questions buyers don’t know to ask (which we call FLUQs). That missing decision-level information is what AI systems need to find before they include, compare, or cite the brand. Citations start before the answer If keyword coverage misses the buyer’s decision questions, where do AI systems get the material to answer them? Tracking BOFU prompts helps us inspect that surface. It won’t show the exact prompts buyers type. No one gets that data. And recent research suggests synthetic prompts can still give a useful signal when they model real buyer intent, but we shouldn’t treat one run – or 100 – as the truth. You start by asking, “When we ask a prompt that represents a buyer problem, what sources does the system reach for?” That’s where the link-building work changes. You need to look at the cited pages in those answers and ask whether they give the system enough detail to answer without guessing: Do they explain the offer? Do they compare options? Do they show the use case? Do they include the proof? The source mix changes by prompt, industry, and intent. At the bottom of the funnel we frequently see AI tools cite LinkedIn, YouTube, third-party comparison pages, microsites, and TONS of content from competitors or in-market vendors in answers to buyer prompts. In some segments we’re seeing government documentation and guidance In-market vendors often make up the biggest citation bucket. AI systems use what they can retrieve and apply quickly, with minimal compute (much like humans). A page with the table, comparison, framework, or structure already built gives the system something to use. Your job is to earn links and improve the material AI systems may reference before they decide which brands belong in the answer. Citation optimization starts before the answer. Important note: Don’t over read a single prompt run. Track prompts multiple times to look for repeated gaps. If a brand disappears from a valuable prompt category, that absence gives you a place to investigate. Citation optimization: The future state of link building Citation optimization means identifying the pages and websites that influence AI answers, then improving how they mention your offering. Hence, the brand appears more consistently, more accurately, and in a better context. A simple way to operationalize this approach is to remember PARSE: For SEOs and link builders, the starting point is prompt-led source research: Track the unbranded prompts that matter to the buyer’s problem. Run them more than once. Look at which pages and domains the system cites repeatedly. Inspect those pages. You should ask: Which sources shape the answer? Which ones compare options? Which ones have a table, list, framework, or explanation the system can use? Which ones mention competitors but leave you out? Which ones mention you without enough context to explain why you belong? This approach gives link builders a different kind of target list. Your goal isn’t only to secure another backlink. It’s to improve the source material that AI systems may use before they decide which brands belong in the answer. That can mean adding the brand to a cited page, improving an existing mention, replacing a thin comparison with a clearer one, contributing a table, graphic, short explanation, or other asset chunk that gives the page more useful material to work with. This still includes links. We’re not leaving the link behind. But a brand mention and anchor text alone is too thin. You need anchor context: useful material around the link that helps a system understand the value of the mention. Whether you’re in-house or working with link builders, you need to ask for more than a backlink. Ask for a backlink plus anchor context: a useful piece of context that can help form an AI citation. At a minimum, that chunk should explain the offer, the use case, who it helps, and why it belongs in the answer. That’s the first shift from link building to citation optimization and increased search AND AI visibility. View the full article

Inside Ikea’s movie studio-size marketing and production facility at the company’s headquarters in Älmhult, Sweden, a corner of a vast soundstage is piled with a multicolored array of what look like props from some fantastical children’s show. There’s a bench that rocks from side to side, a bright blue lamp that hides two transformative elbows in its skinny post, a glass vase with jug ears sticking out from its sides, and a clock on the end of a curvaceous red tube that looks like a worm wiggling its way out of the dirt. These whimsical items are all part of Ikea’s new PS collection, a once-in-a-while recurring product drop that the company uses to stretch its experimental design muscles. Now available in stores and online, this year’s PS collection is the 10th since the company set out in 1995 with a line of products intended to take some ownership over the increasingly widespread proliferation of Scandinavian design. The PS collection is a flag-planting moment for the global home furnishings giant, staking a claim over the present and future of Scandinavian design, and plotting a way forward for its own design intentions. That includes softly curved plywood chairs, a clever square table with a drawer that can slide through from one side to the other, and a wacky adjustable stool that uses a sawtooth mechanism to ratchet up to different heights. “The brief was ‘less but more, simple but not a bore,’” Maria O’Brian, the creative leader behind the PS collection. “And this is what came back.” She’s standing amid the collection in Ikea’s soundstage in early April when I visited the company headquarters for an exclusive look at its prototyping shop, where many of the 1,500 to 2,000 new products Ikea releases every year are meticulously developed. During my visit, part of the collection was being prepped to ship out to Milan for the annual Salone del Mobile furniture fair. Once the exclusive domain of the high-end design world, Salone got its first infusion of Ikea’s low-cost “democratic design” with the inaugural PS collection in 1995. More than 30 years later, O’Brian sees the new PS collection doubling down on its original purpose. “Scandinavian design is all about simplicity, the material, the functionality, the directness of design. And it’s also about resourcefulness and being smart with the materials and ornamentation. You don’t want to just slap something on there for the sake of it,” O’Brian says. “But it’s not boring.” That’s how a seemingly infeasible product like an inflatable easy chair is now making its way into hundreds of Ikea stores around the world. During my visit to Ikea’s headquarters, I saw some of the dozens of prototypes it took designer Mikael Axelsson more than a decade to develop in his aim to turn his inflatable furniture idea into something comfortable that could also be manufactured at Ikea’s vast global scale. I also saw the grueling trial and error between designers and production facilities to realize designer David Wahl’s foldable side table, a briefcase-like portable table that opens in one smooth motion and clicks into place. In Ikea’s prototyping shop, Wahl pulled out four prototypes of the design, each with slightly different hardware and fittings, and each a wobbly mess. “We called it a dancing table,” he told me, rocking an early version like a hula dancer. It took nearly a year of back-and-forth work to achieve the millimeter-precise locking mechanism that kept the table steady. Other products in the PS collection have easier origins. The bright floor lamp with two pivot points in the lamp post came from designer Lex Pott sawing 46-degree cuts into a broomstick. Designer Friso Wiersma used his background as a boatbuilder to create a highly refined storage cabinet with doors that look woven like baskets. “I asked him to make some storage for the collection. He was like, okay, see you in a week,” O’Brian recalls. “He showed up with two final, amazing cabinets. And then we just took the discussion from there.” A few other highlights from Ikea’s new PS collection include a puffy chair that flops open to become a bed, and a pared-down chair with a backrest that can be used sideways as an armrest or even backwards as a place to prop up your elbows. “The point of PS is that we do challenge ourselves. We challenge what we think we can do or how we do it,” O’Brian says. “We wanted to push our boundaries.” View the full article

As the conflict in Iran strains the world’s oil supplies, a lot of attention has focused on gasoline: Average gas prices have increased more than a dollar a gallon since the war began, exceeding $4 a gallon for the first time in four years. But vehicle travel isn’t the only type of transportation affected. Jet fuel prices have roughly doubled in that same time frame. In March, U.S. airlines spent 56% more on fuel as compared to February, per Bureau of Transportation Statistics. When it comes to cars, rising gas prices have highlighted the benefits of—and spurred more interest in—sustainable alternatives like electric vehicles. The conflict has underscored the fact that EVs and renewables aren’t just good for the environment; they’re also a buffer against geopolitical instability. The same thing is now starting to happen in the airline industry with sustainable aviation fuels. But meeting that demand may be a challenge. Sustainable aviation fuels aren’t just for climate goals “Sustainable aviation fuel is not just for sustainability,” says United Airlines CEO Scott Kirby. “I tell everyone [jet fuel is] our biggest cost. It’s our most volatile cost. …and guess what happened?” Kirby, a self-proclaimed “climate change geek,” has long been interested in sustainable aviation fuels (also called SAFs) as both a way to reduce airline emissions and a tool to reduce costs. SAF makers echo his arguments. “SAF not only supports emission reductions and propulsion for aviation, but also strengthens fuel security and reduces exposure to these external shocks,” says Chris Cooper, CEO of sustainable aviation fuel company XCF Global. At its refinery in Reno, XCF can produce SAF using domestic waste feedstocks, turning fuel from a global commodity to a more stable, local one. Still, SAF remains a small portion of airlines’ overall fuel usage. United, a leader in terms of SAF usage, has invested in the production of more than 5 billion gallons of SAF. Even so, SAF accounted for just around 0.3% of the airline’s fuel use as of December 2024, according to the company’s most recent impact report. To ramp up SAF production and use, Kirby says the industry needs “the kind of government carrots that worked for wind and solar.” The Inflation Reduction Act was a start; the Biden-era legislation provided tax credits and grants to make SAFs more cost competitive to conventional fuels. President Donald The President’s One Big Beautiful Bill Act, however, cut those tax credits nearly in half—from $1.75 per gallon to just $1 per gallon. Challenges to scaling up SAFs The political environment has companies across different industries, including airlines, quieter about their climate goals. In April, Delta Airlines erased some environmental targets from its sustainability web page, including its pledge to use SAF for 10% of its jet fuel by 2030. The turn away from sustainability is happening outside the U.S. as well: In 2024, Air New Zealand abandoned its 2030 climate goal. Kirby says a lot of these airlines had set environmental goals with an ambitious 2030 deadline—in line with the Paris Agreement targets. For some companies, it seems that date is proving hard to meet, so they’re rolling back their commitments. “Our goal was always 2035,” Kirby says. United aims to cut its greenhouse gas emissions intensity 50% by then, compared to 2019 levels, and 100% by 2050. “There’s no way we’re going to get this done in 2030,” he says. “It just wasn’t going to happen.” The high price of SAF has also made some airline executives reluctant to commit to the climate solution. “I’ve heard other CEOs who I like and respect say, ‘if someone produces SAF and it’s cost competitive, I’ll buy it,’” Kirby says. “Okay, but we should try to help make that happen.” Even with jet fuel prices currently soaring, the price gap is notable. SAF costs over $3 more a gallon than conventional jet fuel, according to the trade association Airlines for America. As a SAF producer, Cooper says that the industry needs more support. Before becoming CEO of XCF, Cooper was president of Neste, a SAF producer that has partnered with United multiple times, including to bring SAF to the Houston, Newark, and Dulles airports in late 2025. “This isn’t a simple solution that a producer such as XCF can simply produce enough product that creates economies of scale, that then allows an airline to participate,” Cooper says. To get that participation, passengers have to be involved as well, Cooper adds. They have to be willing to pay more to make it a viable solution. “An airline only participates in cost increases when their corporate [partners] and or traveler participates,” he says. “They put a first class meal on an airplane because there’s a first class seat that they sold; the person paid a premium. So when we all work together and the passenger, whether it’s a corporate business or a tourist, pays for sustainability, then the airlines are able to participate and wholly adopt this new energy source for their needs.” Airline emissions will only keep growing Currently, aviation is responsible for about 2% of global greenhouse gas emissions. That adds another challenge to the efforts to decarbonize this type of transportation. “If you’re going to spend a million dollars to decarbonize the economy, the bang for your buck spending it on SAF is a lot lower than just electrifying road transport,” Kirby says. “That doesn’t mean we shouldn’t be preparing for it and doing the work. We should. But the bang for the buck is bigger in other places.” To that point, Cooper has a counter: Aviation may account for just 2% of global emissions right now, but that figure is growing. Between 2000 and 2019, aviation emissions grew faster than rail, road, or shipping emissions, according to the International Energy Agency. The International Civil Aviation Organisation forecasts that by 2050 international aviation emissions could triple compared to 2015. “The airline industry knows that” its emissions will increase, Cooper says. “They themselves have discussed the continual growth and expansion of demand into many, many years to come. …They’ll quickly become a greater percentage than 2%.” Sustainable aviation fuels will be critical to mitigating that increase and decarbonizing the sector, experts say. Cooper hopes that the current fuel crisis will help highlight all benefits of the fuel alternative and hasten its adoption. “Energy security is a global concern,” he says. “Periods of geopolitical instability have repeatedly exposed these vulnerabilities. And those disruptions have helped accelerate interest in SAF.” View the full article

Sceptics associate American president with turmoil and cast doubt over Sino-US relationship resetView the full article

Discover the importance of AI in reviews and brand visibility. Learn how AI tools affect perceptions in our latest review. The post Data Shows AI Overviews Exposing Negative Reviews Without User Intent. What To Do Next appeared first on Search Engine Journal. View the full article

I mowed a lot of lawns and cleaned a lot of gutters as a kid, but my first consistent job was delivering newspapers. Today that sounds quaint, but it was a rite of passage back in the day. I grew up in Chevy Chase, Maryland, just outside Washington, D.C., raised primarily by my mom and in the most modest house of anyone I knew. She used to say we were never poor– we just didn’t have a lot of money. So at age 15 when I heard that a Washington Post delivery route paid $100/month, I jumped at the chance. This was the Post in its prime, not long after its reporting on the Watergate scandal made the paper famous. Every home in the area had a subscription. Politicians, lawyers, lobbyists, staffers – they all woke up and reached for the same paper, expecting to be on their porch by 6:30am. And even if I was just the kid making sure it landed there, it felt important. So at 5:30am seven days a week, I was out the door, ready to fill the bag slung over my shoulder and walk porch to porch. There’s something clarifying about that hour. No one is asking anything of you– it’s just the work in front of you and the responsibility to get it done. I loved it. Except Wednesdays. Wednesdays were brutal. Coupon inserts from Safeway and Giant turned what was already a heavy bag into something you felt in your shoulders for days. And it was doubly brutal if it rained that day. But people were counting on the Post showing up. Someone was going to pour their coffee, sit down at the kitchen table, and reach for it, rain or shine. Coupon day, or not. Looking back, what that job really taught me wasn’t just about showing up on time, though it was that, too. It was about understanding that reliability is a form of respect. Everyone wants to be seen. When you commit to being there for someone – and you follow through – you’re telling that person: I see you. You matter. That sits at the center of what we do at Lyft. Every ride is a commitment. A driver heading out at 5 a.m. (and there are a lot of them) is honoring the same promise I made on that paper route: I’ll be there. They’re getting to the airport, to the hospital, to a job interview. The stakes are higher than a twelve-year-old delivering a Wednesday newspaper. But my commitment is the same, seven days a week, 24 hours a day, a billion times a year. It’s a valuable lesson no matter what you do. My First Job is a recurring series in which prominent business leaders share what their first job was and what they learned from it. View the full article

Oops, it happened again. A celebrity was asked what they think about artificial intelligence and, after sharing their reflections, received intense blowback on social media. The latest such case is Demi Moore, who is currently serving on the jury for the Cannes Film Festival. At a May 12 press conference meant to introduce the broader film event, Moore was asked by a journalist about AI, its impact on Hollywood, and potential regulation. “I always feel ‘againstness’ breeds ‘againstness.’ AI is here,” Moore responded, clearly thinking on the spot. Rather than fight a “losing” battle, Moore suggested that artists figure out how to “work with” the technology. This, she opined, would be a far more productive path forward. The Substance star then proceeded to suggest that there is probably not enough being done in terms of regulating the technology, before concluding with one final and trite, though seemingly heartfelt, salvo. “The truth is: There really isn’t anything to fear because what [AI] can never replace is what true art comes from, which is not the physical. It comes from the soul,” she asserted. “It comes from the spirit of each and every one of us sitting here . . . to each and every one of us that creates every day. And that they can never re-create through something that’s technical.” Moore has since been pilloried in some corners of the internet. She’s facing both fair criticism and a bevy of offensive insults, many of which dismiss her as a pro-AI shill or, perhaps worse, a pro-AI dunce. Moore joins a growing number of celebrities who have either volunteered to comment on, or been asked about, AI, and subsequently been sorted into camps of support and opposition. On one side are skeptics like Guillermo del Toro, who would “rather die” than use generative AI, and Nicolas Cage, who is a “big believer in not letting robots dream for us.” On the other are more accommodating voices like Sandra Bullock, who says AI should be used in a “constructive” way, and Reese Witherspoon, who, quite inartfully and with the verbiage of a sponsored-content hack, encouraged women to get in the game and use the tech. These statements all tend to come with attendant cheers or barbs from online fans eager to police any positive statements about the technology. This new micro-trend of celebrity AI takes—and AI takedowns—comes as Hollywood looks to position itself in relation to a technology that stands to rapidly transform cinematic production on the whole. Through automation, AI could, critics argue, threaten jobs, further abuse intellectual property, cheapen the process of art-making, and fuel the influence of Silicon Valley firms over creative industries. Of course, there’s also a flip side: AI advocates say that while the arrival of these new platforms does challenge a traditional business model, they also lower the barrier to entry and constitute a new way to democratize the creation of art. Think about it: Now anyone with access to a few powerful models can produce high-quality animations, even if they don’t have a multimillion-dollar film budget or fancy studio. But the problem with forcing anyone, including celebrities, into pro- and anti-AI camps is that AI is already here. Artificial intelligence also continues to be a wildly vague term that can refer to anything from machine-learning algorithms used to catch typos in scripts and assist in video editing to extremely impressive visuals rendered with just a few prompts to a large language model. In the jumble of online discourse, all of these phenomena are swept together into pro-AI or anti-AI contingents. Yes, celebrities are making all sorts of cringey comments on AI, but lambasting them for acknowledging the technology is here, likely already endemic, and even comes with some compelling use cases isn’t progressing the conversation. AI is currently shaping our digital and material lives in ways that are useful and exciting and noxious and terrifying, often through mechanisms that are mostly beyond the consumptive or creative purview of any one person. What might be more important is pushing people to think specifically about what they mean when they talk about AI and more critically about the ways AI is influencing the distribution of power, wealth, and even creativity. Dealing with AI requires looking for a more equitable vision of these tools, rather than polarizing ourselves as pro or against a technological category that remains extremely poorly defined. Consider the thoughts expressed by Paul Laverty, a screenwriter and lawyer also serving on the Cannes Film Festival jury, in a follow-up to Moore. “I think we have to look at the first thing and see who owns it, because they decide on the algorithms that affect our lives in the deepest way,” Laverty said. “People are beginning to realize that we should not let these tech bros—billionaires who are mostly right-wing libertarians—dictate how we live our lives. What’s the effect to be [on] workers, beyond artists, ordinary workers and society and our children?” Which is to say: Maybe we ought to spend less time policing celebrity AI takes and more time interrogating the people building the systems themselves. View the full article

There are many ways to measure the success of CompanyCam, a Lincoln, Nebraska-based startup unicorn that popularized a photo-focused construction tracking app that’s become popular within the roofing industry. But one of the clearest signs that its design, utility, and functionality are hitting the mark is the variety of users the app continues to attract. There are shipbuilders who use it to track how vessels are built and to certify the strength of a hull. Retail merchandisers love the ability to showcase product setups and track subcontractors. Property managers use it to oversee buildings. “We have some aestheticians—which I think our terms of service say they shouldn’t use us for—doing ‘before’ and ‘after’ photos for CoolSculpting,” said chief financial officer Tullen Mabbutt. “One thing that has always fascinated me about our business is all of the interesting use cases that we never intended to solve.” The firm grew out of founder Luke Hansen and his family business, White Castle Roofing, which his father started in the 1980s and he took over with his two brothers, Dane and Jake, in the mid-2000s. The Hansen brothers wanted to scale up and expand the firm, and through the process of growing, came up against the challenges of workplace documentation for roofing contractors. Insurance companies needed detailed images of damaged roofs and the finished repairs. Homeowners wanted to know if the crews on top of their homes were damaging things. And the company had challenges while overseeing multiple crews: getting updates when projects finished, and managing materials and labor flows with quick updates from job sites. Photos became central to the company’s processes and its reputation locally, and helped back up its motto, “Built by trust, proven by time.” By the late 2000s, before more sophisticated phone photo apps became de rigueur, White Castle crews were carrying a digital camera with an SD card to job sites, tracking work and then sending the photo card back to the office after every shift. In 2015, Hansen started searching for an app that could help them handle their contracting and recordkeeping work, and help White Castle progress beyond a shared drive or Dropbox. Disappointed that he couldn’t find a suitable option, he hired a local development studio in Lincoln, Agilx, to develop one, and soon launched CompanyCam. The app offers easy-to-navigate recordkeeping tools—photo annotation, shared files and project records, and in-app communication for workers in the middle of a workday. The team soon realized they were on to something when they started seeing the benefit of the live feed that was embedded in the early release, which automatically uploads and syncs photos and video clips from job sites so the entire team can see; now, managers could see exactly when a job was finished, or track work in real time, making it much easier to oversee a large contracting business. “What started as a better way to put project photos into folders quickly turned into this accountability, quality management, and project management tool,” Mabbutt said. “All of a sudden, as a business owner, you could sit in the office and know the status of every single project.” They began marketing it as a general-purpose project management tool, as opposed to one simply for construction contractors, and now CompanyCam boasts users from 30,000-plus companies. As the company has grown over the last decade, it’s continued to keep pace with its customer base and technology. Being local and hands-on—the other Hansen brothers still run White Castle Roofing and sit on the board of CompanyCam—gives Hansen insights into product usage and development. Product teams get insight into real user experience questions; when it’s 105 degrees, and a user is 20 feet in the air leaning over a ladder, is it really the right time to ask them to click a button? “We think we’re in a unique position, especially with AI, to help contractors get more done from the job site without having to click 10 buttons,” he said. “Contractors spend a lot of time in their truck. We want to act as a field agent that helps them get stuff done while they’re rolling.” And they’ve fully embraced AI. It turns out that having a huge database of job site photos gives them a considerable edge when it comes to designing useful artificial intelligence tools. So far, CompanyCam has very practical AI features, like daily project recaps or voice-to-text features that replace the ubiquitous job site notebook. But eventually, the goal is to create a marketing suite that can utilize client photos to help their advertising campaigns. They just launched a generative AI tool to help create project portfolios and conduct marketing via social media. After a $415 million raise last August that valued the company at nearly $2 billion, CompanyCam just acquired Beam, a fintech company for contractors, in order to add even more functionality for its user base. But its origins in Lincoln helped it find its identity. “Early on, being able to cobble together a ragtag group willing to work on this was a huge advantage,” Mabbutt said. “Building a tech company in Nebraska forces this close, collaborative relationship with other tech companies in the area. What we lack in density, we make up for in collectivism, if you will.” View the full article

US chief executives should be wary of putting their own convenience ahead of transparencyView the full article

The Federal Housing Administration put an end to pandemic-era relief last year, triggering a 28% jump in foreclosures on FHA loans in the first quarter and an expected spike in defaults ahead. View the full article