🏆🤖A Reserve Worth Billions

THE PROFITS💸

Good morning Opportunists. From a billion-dollar gold discovery redefining wealth to eVTOL drones revolutionizing transport, and a 2022 data breach settlement offering unexpected payouts, the future is unfolding in dramatic ways. Buckle up for the stories shaking up industries and sparking change!

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Trending Global Money News

Overtime Rule Struck Down: A Lifeline for Small Businesses

A federal judge in Texas struck down a Biden administration rule on November 15 that would have expanded overtime pay eligibility to millions of salaried workers, drawing mixed reactions from small business owners. The rule would have raised the salary threshold for overtime pay from $43,888 to $58,656 annually starting January 1, but the decision keeps the previous $35,568 threshold, set in 2019, in place.

Many small business owners, like Guillaume Drew of Or & Zon and Sheldon Sutherland of Epoxy Werx, praised the ruling for keeping labor costs manageable and maintaining financial stability while allowing for competitive wages and alternative employee incentives.

However, critics, including Stephanie Penn of Tee & Honey, argue that fair overtime pay boosts morale, productivity, and retention, and the decision leaves room for inequities that could harm businesses striving to support their teams. Small business organizations largely supported the ruling, emphasizing the need for gradual, predictable changes that balance business viability with employee fairness. [Source]

A Reserve Worth Billions

A staggering 1,000 metric tons of high-quality gold ore has been uncovered in central China’s Hunan Province, valued at $83 billion and potentially the largest deposit ever found.

Geological surveys revealed 40 gold veins at depths of up to 2 kilometers, with projections suggesting even more reserves lie deeper underground.

The ore’s exceptional quality—containing up to 138 grams of gold per metric ton—outshines global mining standards, cementing China’s dominance in the gold market.

This discovery has already spiked gold prices, reflecting rising demand amid global economic uncertainty.

Experts believe the find could redefine the limits of viable reserves, hinting that Earth's hidden treasures are far from depleted. [Source]

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Startup Spotlight

Startup Spotlight: From Wall Street to Six-Figure Tutoring

After a "quarter-life crisis" at 25, Steve Menking walked away from a promising Wall Street career to pursue his true calling: teaching.

Starting small with tutoring agencies and online platforms, he leveraged his finance background to help students master math and accounting, steadily building his rates and reputation.

Now, with a thriving private tutoring business and partnerships like Forum Education, Menking earns over $500,000 annually while working just 20-25 hours a week from his Connecticut home. His journey highlights the power of aligning passion with purpose, as he balances a lucrative career, creative freedom, and quality time with his family.

"This career allows me to serve others, be entrepreneurial, and wake up every day with purpose," Menking says, proving that big risks can lead to even bigger rewards. [Source]

Science and Technology

eVTOL Drones: UrbanLink Air Mobility is acquiring 40 hybrid-electric eVTOL drones to revolutionize cargo transport and disaster relief in Miami and Puerto Rico. With eco-friendly innovation at its core, the startup is expanding its fleet to include advanced eVTOL jets and electric sea vessels for sustainable, integrated mobility. [Source]

CycloTech’s BlackBird: CycloTech has unveiled plans for its "BlackBird" flying car, powered by its groundbreaking CycloRotor technology, which offers unmatched precision and maneuverability by mimicking the advanced propulsion systems used in tugboats. Set to debut as a full-sized prototype in 2025, the BlackBird promises to revolutionize air travel with its ability to move or spin in any direction mid-air, outperforming traditional eVTOL designs in safety and versatility. [Source]

Make Games Great Again: Elon Musk plans to launch an AI game studio under xAI to "make games great again," blaming "woke" ideology and big corporations for gaming's decline. Critics call the move ironic, questioning whether a billionaire-owned mega-company can really save gaming from other mega-companies. [Source]

Business & Markets

A Quick Return: A memecoin trader turned $6,300 into a jaw-dropping $1.5 million in under an hour by purchasing nearly 30% of a new coin’s supply and executing over 50 sell transactions, sparking both admiration and suspicion. While such explosive returns showcase the wild allure of cryptocurrencies, they also highlight the risks of potential insider trading or bot-driven manipulation, leaving everyday investors wary of chasing similar high-stakes gambles. [Source]

Ripple (RLUSD): In a dramatic turn, nearly 47 million Ripple USD (RLUSD) tokens were burned in just 24 hours, fueling speculation about an imminent announcement of Ripple’s long-awaited stablecoin. While Ripple has tested the stablecoin with select partners since August, key regulatory approval from New York's DFS remains a major hurdle before its potential launch, hinted to arrive before year-end. [Source]

Super Micro Loan: Super Micro Computer (NASDAQ: SMCI) terminated key loan agreements, voiding a deadline to file delayed financial statements amid ongoing Nasdaq compliance review. While shares recently rallied, today’s 10% drop reflects lingering concerns over transparency and unresolved Hindenburg allegations. [Source]

2022 Data Breach: Green Valley Pecan Company has agreed to a major settlement after a 2022 data breach compromised customers’ personal information, offering up to $4,400 for impacted individuals who submit claims by December 16, 2024. Eligible recipients, notified by the company, can receive compensation for ordinary expenses, extraordinary losses like identity theft, and two years of free credit monitoring with $1 million in identity theft insurance—providing much-needed relief after the cyberattack. [Source]