Hello, Insiders. Today I want to reflect on one of my favorite developments in our economy over the past decade or so: the different ways enterprising people are cobbling together incomes to create real alternatives to traditional careers. My brother, for example, never enjoyed the office setting. Today he's making a nice living as a photographer, driving a fancy Uber, and renting out his other cars via Turo. What else are people doing? Vending machines, for one, are seeing a surge in popularity as passive businesses. People are also working as virtual assistants and cleaning homes — a millennial founder booked $150,000 in revenue last year that way. There's one 29-year-old who makes about $218,000 a month from side hustles and says it's possible to make a ton of money without putting much down. So I want to hear from you: Do you have a side hustle or passive-income business? Share your story: insidertoday@insider.com. But now, the news. — Nicholas Carlson |
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- A grand jury is hearing evidence against Donald Trump in the Stormy Daniels hush-money case. We may soon hear whether Trump will be charged. Here's the latest.
- Ukrainian troops are calling the US military in the middle of shootouts with Russia for help fixing their artillery. Read the full story.
- Mystery at Dallas Zoo: Two monkeys are believed to have been taken, following a leopard escape, a dead vulture, and "suspicious" rips in enclosures. Read more.
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| Sam Bankman-Fried was just the start — the Great Fraud Reckoning is upon us. Get ready for what will feel like an inescapable wave of corporate fraud, Insider's Linette Lopez warns. Financial conditions are tightening after years of an intensely hot stock market. But now the economy is slowing. The stock market is sliding. And cash is getting harder to come by. This is putting pressure on corporate balance sheets — tempting executives to cheat to meet Wall Street's expectations. And if history is any guide, the biggest scams are yet to come. The risk of running into companies that have moved from funk to fraud gets higher the longer financial conditions remain tight, according to a former SEC accountant (who's now a partner at a firm that works with clients facing allegations of fraud). "I think we're going to be very busy this year," he said. |
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Christian Petersen/Getty Images |
- Who is Gracie Hunt? The beauty-queen daughter of the Kansas City Chiefs owner Clark Hunt, and part of one of America's wealthiest families, Gracie Hunt is expected to be on the sidelines when her team heads to the Super Bowl. Meet the former Miss Kansas USA.
- Nike and Tiffany & Co. have teamed up to make a $400 shoe. The design features Tiffany's signature "robin egg blue" color you'd find on the brand's jewelry boxes. But so far, sneakerheads aren't impressed. Take a look.
- "I moved from California to Florida for cheaper housing and lower taxes." Tony Stanol, who's been renting in Florida for the past nine years, says he also enjoys less traffic and fewer crowds. More on the pros and cons of the Sunshine State.
- $4 million to live on a cruise ship. Buying a cabin aboard the Storylines MV Narrative luxury ship appears to be the big new craze — despite cabin prices starting at $598,000. Three buyers told Insider about their decision to take the plunge. More here.
- Nelson Peltz is suing Florida party planners. The activist investor Peltz is going after Plan Design Events, the company that worked on his daughter Nicola's wedding to Brooklyn Beckham. The billionaire investor says he was "hoodwinked" by the planners. Find out why.
- "I work remotely from the Maldives." Sarah Harvey reviews $4,000-a-night resorts for travel magazines and websites. Here's what life is like in the Indian Ocean, from scuba diving before work to spicy fish for breakfast. Read more.
- Why US home prices could fall 20% in 2023. Prices already fell 4% from June to October, but the KPMG economist Yelena Maleyev predicts the downward trend may just be getting started. Here are the cities and regions that could see the largest declines.
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"I swapped my NYC apartment with a friend in the UK." In a real-life version of the Christmas classic "The Holiday," Talia Lakritz spent the winter holidays in her friend's apartment in Edinburgh, Scotland. Here's why she'd do it again. |
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From side hustle to company: For one home-renovation company in Bend, Oregon, what began as a small side gig turned into a million-dollar company in just three years. Here's how it did it. |
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Can't get enough of Insider? |
This edition was curated by Nicholas Carlson and edited by Hallam Bullock, Lisa Ryan, Dave Smith, Nathan Rennolds, Kevin Kaplan, and Shona Ghosh. Get in touch: insidertoday@insider.com. |
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