The founder of Nate, a shopping tech startup once valued at over $100 million, has been charged with fraud after allegedly deceiving investors into believing the company had developed groundbreaking AI capabilities.

In reality, the “AI” behind Nate’s one-click checkout was reportedly a team of human workers manually entering customer data, according to the DOJ and SEC. Founder Albert Saniger allegedly used the false claims to raise over $50 million from prominent investors between 2020 and 2022.

Prosecutors say Saniger knew the product never worked as claimed and continued to present it as AI-powered, despite internal concerns and technical failures. The SEC alleges he also misused funds, including inflating the company’s user base and automating only 1% of transactions while claiming near-total automation.

Saniger has been arrested and faces charges of wire fraud and securities fraud. If convicted, he could face decades in prison.

The post Nate startup CEO promised AI but hired workers in the Philippines instead first appeared on Finblog.

Ardagh Metal Packaging SA (NYSE:AMBP)

• Industry: Packaging and Containers
• Overview: Supplies metal beverage cans for various drinks, operating 23 production facilities across nine countries.
• Upside Potential: 35.47%
• Hedge Fund Holders: 23
• Insight: Positioned to benefit from increased consumer spending due to anticipated lower interest rates.
  

Globalstar, Inc. (NYSE:GSAT)

• Industry: Communication Services
• Overview: Provides mobile satellite services, including two-way voice and data communications.
• Upside Potential: 38.25%
• Hedge Fund Holders: 17
• Insight: Poised to unlock new opportunities in the evolving communication landscape.
  

Denison Mines Corp. (NYSE:DNN)

• Industry: Energy
• Overview: Focuses on uranium exploration and development, notably the Wheeler River project in Saskatchewan.
• Upside Potential: 54.35%
• Hedge Fund Holders: 23
• Insight: Set to benefit from increased uranium demand amid shifts towards nuclear energy and potential U.S. import bans from Russia.
  

NovaGold Resources Inc. (NYSE:NG)

• Industry: Basic Materials
• Overview: Engages in gold exploration, with the Donlin Gold project in Alaska holding approximately 39 million ounces.
• Upside Potential: 52.91%
• Hedge Fund Holders: 13
• Insight: Well-positioned to capitalize on rising gold prices as a safe-haven asset.
  

Clover Health Investments, Corp. (NASDAQ:CLOV)

• Industry: Healthcare
• Overview: Provides Medicare Advantage plans, leveraging technology for affordable healthcare solutions.
• Upside Potential: 69.83%
• Hedge Fund Holders: 21
• Insight: Anticipates growth through technological platforms and expanded partnerships, with improved financial performance.
  

B2Gold Corp. (NYSE:BTG)

• Industry: Gold Mining
• Overview: Operates gold mines in Mali, the Philippines, and Namibia, with a focus on sustainable practices.
• Upside Potential: 69.83%
• Hedge Fund Holders: 13
• Insight: Offers a dividend yield of 6.48%, appealing to income-focused investors amid favorable gold market conditions.
  

EVgo Inc. (NASDAQ:EVGO)

• Industry: Electric Vehicle Charging
• Overview: Owns and operates fast-charging networks for electric vehicles across the U.S.
• Upside Potential: 75.25%
• Hedge Fund Holders: 14
• Insight: Set to benefit from the growing adoption of electric vehicles and supportive government policies.
  

Taboola.com Ltd. (NASDAQ:TBLA)

• Industry: Advertising Technology
• Overview: Provides content discovery and native advertising solutions for publishers and advertisers.
• Upside Potential: 75.25%
• Hedge Fund Holders: 14
• Insight: Anticipates growth through strategic partnerships and expansion in the digital advertising space.
  

Inter & Co, Inc. (NASDAQ:INTR)

• Industry: Financial Technology
• Overview: Offers digital banking services, including payments, investments, and insurance products.
• Upside Potential: 75.25%
• Hedge Fund Holders: 14
• Insight: Positioned to leverage the increasing shift towards digital financial services.
  

Geron Corporation (NASDAQ:GERN)

• Industry: Biopharmaceuticals
• Overview: Develops therapeutics for myeloid hematologic malignancies, with lead product Imetelstat.
• Upside Potential: 124.41%
• Hedge Fund Holders: 29
• Insight: Achieved FDA approval for Rytelo, targeting transfusion-dependent anaemia, with plans for commercial expansion.

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.

The post 10 Best Penny Stocks Of 2025, which is up 25% in January first appeared on Finblog.

1. Big Lots
   • Filed for bankruptcy in September.
   • Deal with a private equity firm fell through, leading to the closure of 963 locations.
2. Bowflex
   • Entered bankruptcy in March and emerged a few months later.
   • Sold assets to a Taiwan-based company for $37.5 million.
3. Express
   • Struggled with its merchandise strategy and filed for bankruptcy in April.
   • Closed nearly 100 locations and was sold to WHP Global in June.
4. Joann
   • Declared bankruptcy in March amidst consumer cutbacks on crafts.
   • Became privately owned, retaining all 850 stores.
5. LL Flooring
   • Filed for bankruptcy in August as remodeling demand slowed.
   • Rescued by a private equity firm after initially announcing the closure of 94 stores.
6. Party City
   • Filed for its second bankruptcy in December.
   • Plans to close its 700 locations in early 2025.
7. Red Lobster
   • Filed in May after years of underinvestment.
   • Closed over 100 locations but emerged from bankruptcy under new ownership in September.
8. Spirit Airlines
   • Declared bankruptcy in November due to losses and debt.
   • Plans to emerge in 2025 with reduced liabilities.
9. Stoli Group USA
   • Filed for bankruptcy in December after demand slowed and a cyberattack disrupted operations.
10. TGI Fridays
    • Entered Chapter 11 in November.
    • Blamed COVID-19 aftershocks for its financial woes.
11. True Value
    • Filed in October, citing a cash crunch from the housing market slowdown.
    • Rival acquired its operations; retail stores remain open.
12. Tupperware
    • Filed in September after years of declining popularity.
    • Its brand and IP were acquired by a private equity firm in November.

Retail’s Reckoning

The retail sector was particularly hard-hit, with 7,100 store closures through November, a 69% jump from the previous year (CoreSight). As consumer spending shifted, companies reliant on discretionary purchases—like Tupperware, Party City, and Joann—struggled to adapt, while those dependent on home improvement and remodeling faced challenges from the housing market’s stagnation.

Conclusion

While bankruptcy doesn’t always spell the end, as seen with companies like Red Lobster and Bowflex, it underscores the fragility of businesses in a volatile economy. These developments not only reshaped industries but also served as stark reminders of the evolving market dynamics and the importance of adapting to consumer demands and economic pressures.

The post A Brutal Year for Businesses: Notable Bankruptcies in 2024 first appeared on Finblog.

Emerging Trends: Align with tech, sustainability, and consumer-driven market shifts for growth.

Booming Markets: Target high-growth industries like AI, clean energy, and digital health.

Consumer Preferences: Prioritize sustainability, personalization, and convenience.

Leverage Tech: Use AI, blockchain, and VR for innovation and efficiency.

Funding Magnet: Focus on scalable, future-focused ideas to attract investors.

Competitive Edge: Early entry into trending markets ensures leadership and brand loyalty.

Regulatory Compliance: Meet sustainability and environmental standards for credibility.

Long-Term Growth: Build startups in sectors with scalable and expanding market potential.

Future-Ready Ventures: Stay ahead by tapping into unmet needs and leveraging new ideas.

The post Here US Top 15 Startup Ideas for 2025 – Embrace the Future first appeared on Finblog.

Founder Executive Salaries (Seed Stage)

• CEO: $132,000
• CTO: $134,000
• COO/Operations: $135,000
• Product/CPO: $149,000

Note: Founder salaries tend to increase significantly post-raise. Series A founders earn an average of $183,000, and Series B founders average $218,000.

Employee Starting Salaries (Seed Stage)

• Engineering (Mid-level):
  • Bay Area: $100,000–$145,000
  • Other Tech Hubs: $90,000–$130,000
• Sales (Mid-level):
  • Bay Area: $80,000–$110,000
  • Other: $70,000–$100,000
• Product Titles:
  • Bay Area: $130,000–$185,000
  • Other: $110,000–$175,000
• Marketing (Mid-level):
  • Bay Area: $100,000–$175,000
  • Other: $80,000–$145,000

Senior engineers command $180,000–$235,000 in the Bay Area and $160,000–$210,000 elsewhere, while entry-level engineers earn $75,000–$105,000.

Equity Distribution for Initial Hires

Equity grants, vested over four years, are an enticing part of startup compensation. Data from Carta on over 8,000 grants shows typical equity for the first five hires:

• First hire: 0.5%–4% (median: 1.49%)
• Second hire: 0.3%–2% (median: 0.85%)
• Third hire: 0.21%–1.2% (median: 0.50%)
• Fourth hire: 0.18%–1% (median: 0.44%)
• Fifth hire: 0.13%–0.8% (median: 0.34%)

• Role Matters: Technical and product roles tend to earn more than executive titles like CEO in early stages.
• Equity Allure: Early employees are compensated with meaningful equity, making startups attractive despite lower salaries compared to larger companies.
• Location Impact: Salaries are higher in the Bay Area but are balanced by cost-of-living adjustments in other regions.

This data provides a roadmap for startups to attract and retain talent while maintaining financial prudence during their growth phases.

Related article:

How to Get a Startup Business Loan with No Money Online: A Step-by-Step Guide

The post $132K – $149K, here’s what seed-stage startups pay early employees first appeared on Finblog.

Bluesky is a decentralized social media network designed to empower users by providing them control over their data and algorithms. It operates on the Authenticated Transfer Protocol (AT Protocol), enabling interoperability across different platforms and ensuring user data portability. Unlike traditional platforms, Bluesky offers a transparent, user-first approach to social networking.

Who Owns Bluesky

Bluesky was conceived in 2019 by Jack Dorsey, then CEO of Twitter, as an initiative to explore decentralized social media. While it started under Twitter, Bluesky became an independent entity in 2021 to pursue its vision without corporate constraints. Operated as a public benefit corporation, Bluesky prioritizes user empowerment and decentralization over profit-making.

Dorsey, a proponent of open protocols, remains an advisor, but the platform is led by Jay Graber, a software engineer specializing in decentralized systems. Bluesky’s core, the Authenticated Transfer Protocol (AT Protocol), reflects its mission to give users control over their data and algorithms, setting it apart from traditional social networks.

How Does Bluesky Work?

Bluesky is powered by the AT Protocol, a technology that supports decentralization and user customization. Here’s how it operates:

How Do You Use It?

Getting started with Bluesky is straightforward, but its decentralized nature introduces unique elements compared to traditional platforms:

1. Sign Up

• Download the Bluesky app, available on iOS and Android.
• Create an account by registering a username and profile. Bluesky offers a clean and simple interface for onboarding.

2. Explore Content

• Use the customizable algorithm marketplace to tailor your feed to your preferences.
• Discover communities and hashtags that align with your interests.

3. Interact

• Post, like, comment, and share content, just as you would on platforms like X.
• Engage in open conversations or follow decentralized communities.

4. Portability

• Bluesky allows you to migrate your data between apps built on the AT Protocol, making it easy to switch platforms without losing connections.

5. Premium Features

• Explore upcoming premium features, such as advanced analytics or enhanced customization, which may require a subscription.

Competitors and Differences

Bluesky competes with other decentralized and centralized platforms in the evolving social media landscape.

Challenges Facing Bluesky

How Bluesky Makes Money

Bluesky operates differently from traditional social media platforms by prioritizing user empowerment and decentralization over ad-driven revenue models. Here’s how the platform generates income.

1. Premium Features and Subscriptions
   Bluesky is exploring monetization through premium features such as advanced analytics, enhanced algorithm customization, and exclusive tools. Users can opt for subscription-based models to access these features, ensuring a revenue stream aligned with user interests rather than intrusive advertising.
2. Marketplace for Algorithms
   Bluesky’s marketplace for algorithms could also become a monetization avenue. Developers or contributors might create and sell algorithms tailored to specific user needs, generating income for both the platform and contributors.
3. Donations and Grants
   As a public benefit corporation, Bluesky may receive grants or donations from organizations and individuals who support its mission of decentralization and privacy.

How Account Owners Can Make Money

Account owners also can use the platform to make potential profits from their presence on Bluesky:

1. Content Monetization
   While Bluesky is not currently ad-driven, creators and account owners can monetize their content through direct user support. This could include subscription-based access to exclusive posts, behind-the-scenes content, or premium discussions.
2. Paid Communities and Groups
   Account owners may create niche communities or groups on Bluesky, offering value-added services or content for a subscription fee. These paid groups could focus on specialized topics like education, consulting, or exclusive insights.
3. Algorithm Customization and Development
   Developers and tech-savvy users can contribute to the algorithm marketplace by creating and selling custom algorithms. These algorithms, tailored to specific needs, could become a lucrative income stream for creators.
4. Affiliate Marketing and Sponsorships
   Content creators can leverage their presence on Bluesky to partner with brands for sponsorships or run affiliate marketing campaigns. While the platform doesn’t prioritize ads, creators can independently promote products or services to their audience.
5. Decentralized Apps and Tools
   Entrepreneurs and developers can build decentralized apps (dApps) on the AT Protocol. These dApps could offer unique features or services that users can pay to access, creating additional revenue opportunities.

By fostering a decentralized ecosystem, Bluesky not only ensures its own financial sustainability but also opens up diverse opportunities for account owners to generate income.

Related articles:

Bluesky Surges as X Faces Post-Election Exodus

Sources:

1. https://bsky.social/about/faq
2. https://abcnews.go.com/Business/bluesky-social-media-platform-tops-20-million-users/story?id=116043104
3. https://techcrunch.com/2024/11/19/what-is-bluesky-everything-to-know-about-the-x-competitor/

The post What is Bluesky? Everything About X Competitor first appeared on Finblog.

• Allegations Against Smith-Griffin:
  • Accused of falsely claiming $3.7 million in revenue for 2020, when the actual figure was just $11,000.
  • Misrepresented partnerships with major school districts; only two had contracts with AllHere Education.
  • Allegedly used an external consultant’s name in fake emails to mislead investors and her board of directors.
• Misuse of Funds:
  • Prosecutors say Smith-Griffin secured nearly $10 million from investors.
  • Transferred $600,000 to her personal account for a home down payment and wedding expenses.
• Impact on AllHere Education:
  • Filed for Chapter 7 bankruptcy in August 2024, resulting in liquidation of assets.
  • Furloughed most employees in June and is now under court-appointed trusteeship.
• Company’s Background:
  • Founded in 2016, AllHere Education developed an AI chatbot, “Ed,” to assist students and families.
  • Secured a multi-million dollar contract with Los Angeles Unified School District in 2023.
  • Previously recognized in Forbes’ 30 Under 30 and Inc.’s Female Founders 250 list.
• Legal Developments:
  • Smith-Griffin was removed as CEO after the board uncovered discrepancies.
  • No attorney was listed for her at the time of reporting.

Joanna Smith-Griffin’s case highlights the risks of fraudulent practices in tech startups. If proven guilty, the charges may not only affect her legacy but also shake investor confidence in AI-focused ventures.

The post AI startup founder charged with defrauding investors of $10 million first appeared on Finblog.

• App Features: Pookie Tools offers an array of features, including conversation starters, dating outfit recommendations, profile optimization tips, and a zodiac compatibility checker. The app also boasts unique tools like the “Bald Predictor” and “Height Detector” to address common dating profile discrepancies.
• AI Integration: The app employs AI technology to provide tailored advice and suggestions, though initial feedback suggests that the chatbot’s responses lack the personalized touch expected from Welch’s brand of humor.
• Controversial Tools: The “Bald Predictor” and “Height Detector” have stirred some controversy, with criticisms that they might reinforce negative stereotypes. Welch insists these features are meant to be fun and lighthearted.
• Subscription Pricing: Pookie Tools is available via a subscription model, costing $7 per week or $50 per year, with a three-day free trial offered to new users.
• Future Enhancements: Welch plans to expand the app’s features by collaborating with notable guests from her podcast, “Talk Tuah,” potentially attracting a broader audience.

The post ‘Hawk Tuah’ girl launches Pookie Tools, an AI-powered dating app first appeared on Finblog.

Here are some key points about Dex and the technology behind her:

• Creation and Performance: Dex is projected as a hologram or on video screens during performances, with her music mixes and responses being generated by human-guided AI.
• Interaction and AI Integration: She can interact with audiences, remember information, and respond to questions in real time, using a voice generated by AI.
• Cultural and Commercial Role: Beyond entertainment, Dex serves as a demonstration of Sum Vivas’ capabilities in creating digital humans for various service roles like customer support and information guides in airports.
• Future of Digital Humans: Sum Vivas is exploring further applications for digital humans in everyday scenarios, suggesting a future where AI entities might regularly interact with humans in service-oriented roles.

This integration of AI in creating lifelike digital humans opens discussions on the evolving relationship between technology and human interaction, raising questions about the future of employment and personal interaction in increasingly digital landscapes.

The post Welcome to Digital Humans: Virtual DJ Dex Revolutionizes Music and Fashion with AI first appeared on Finblog.

With various financing options available, get a startup business loan with no money is possible. From government-backed loans to crowdfunding and alternative lending platforms, entrepreneurs can access the capital needed to launch their businesses online. Whether you choose a loan, a line of credit, or crowdfunding, having a solid business plan is essential to success.

1. Explore Government-Backed Loan Programs

Government-backed loans are among the best options for startups with limited funds. Programs like SBA (Small Business Administration) loans help small businesses access financing even when they lack substantial upfront capital.

• The SBA Microloan Program offers loans of up to $50,000 to small businesses and startups. These loans are provided by nonprofit intermediary lenders and often have lower interest rates. While SBA loans generally require a good credit score, the microloan program is more flexible, making it easier for startups to qualify.
• The SBA 7(a) Loan Program provides loans for working capital, equipment, and other business needs. These loans are available through approved lenders and can be used to start or expand a business. Collateral may be required but is often more flexible than traditional loans.

2. Look for Online Lenders and Alternative Financing

If government-backed loans don’t fit your needs, many online lenders offer startup business loans with no upfront capital. These platforms simplify the application process, making it easier for new entrepreneurs to access funding.

• Peer-to-peer lending platforms like LendingClub and Prosper connect borrowers with individual investors willing to fund small businesses. These platforms may have more flexible criteria than traditional lenders, offering loans without collateral. However, interest rates can vary widely based on your credit profile.
• Online Business Loan Providers: Online lenders like Kabbage and Fundbox provide fast approvals and are ideal for startups needing quick access to capital. These lenders typically focus on the potential of your business and cash flow rather than upfront capital or a perfect credit score. For example, Kabbage offers loans up to $250,000.

3. Consider Business Credit Cards and Lines of Credit

Business credit cards and lines of credit can also provide access to funds for your startup. While these aren’t traditional loans, they can help cover initial expenses and build business credit.

• Business credit cards like Chase Ink Business Preferred or American Express Business Gold offer credit without needing upfront capital. These cards often come with rewards programs that allow you to earn cashback or points on business purchases. Be mindful of interest rates and have a repayment strategy to avoid accumulating debt.
• A business line of credit provides the flexibility of borrowing only what you need, paying interest only on the amount used. Lenders like BlueVine offer lines of credit up to $250,000, which can help startups manage cash flow.

4. Seek Out Crowdfunding Platforms

Crowdfunding is another way to raise money without a traditional loan. Platforms like Kickstarter and Indiegogo allow entrepreneurs to pitch their business ideas to the public, raising funds from supporters. Crowdfunding is ideal for startups with innovative products or services.

Equity crowdfunding allows investors to receive a stake in your company in exchange for funding. Platforms like StartEngine and Wefunder enable startups to raise capital by offering equity. This is particularly useful for tech startups needing significant capital to launch.

5. Leverage Invoice Financing or Factoring

For startups with clients but needing working capital to maintain cash flow, invoice financing or factoring is a viable solution. These methods allow immediate payment on outstanding invoices, helping maintain operations without waiting for clients to pay.

• Fundbox offers invoice financing, allowing businesses to borrow against outstanding invoices. The lender provides a percentage of the invoice upfront, collecting payment from the client when due. This provides quick access to funds without traditional collateral.
• In factoring, a company sells its accounts receivable to a third-party factoring company at a discount. The factoring company collects the full invoice amount from the client, providing upfront cash to the business. While it can be more expensive, factoring is an effective solution for startups needing liquidity.

6. Look for Grants and Competitions

Don’t overlook small business grants and competitions, which provide funding without repayment. These are typically available to startups working in specific industries like technology or healthcare.

Small Business Grants: Grants from government agencies or private organizations can help fund startups. For example, the Small Business Innovation Research (SBIR) Program provides grants to small businesses engaged in scientific research.

Startup Competitions

Startup competitions can also provide funding. Programs like Y Combinator and Techstars offer seed funding and mentorship to promising startups, providing not only financial support but also networking and growth opportunities.

Related articles:

Where to Invest in Startups?

What percent of 18-29-year-olds are investing in the stock market? 

Why is it important to start investing as early as possible? 

How Much Money Should You Have Saved by Age 30?

Common Mistakes People Make When Investing and How to Avoid Them

Behaviors That Prevent Smart Investing Decisions and How to Overcome Them

How to Invest in Gold and Silver: A Step-by-Step Guide

Sources:

• https://www.nerdwallet.com/article/small-business/how-to-get-a-business-loan-with-no-money
• https://www.liveplan.com/blog/how-to-get-a-startup-business-loan-with-no-money/
• https://www.themuse.com/advice/how-to-get-a-startup-business-loan-with-no-money
• https://www.bankrate.com/loans/small-business/how-to-get-a-startup-business-loan/#howto

The post How to Get a Startup Business Loan with No Money Online: A Step-by-Step Guide first appeared on Finblog.