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Olympic Athletes Face Financial Challenges and Seek Alternative Income Sources

Graziela Alves
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Olympic Athletes Face Financial Challenges and Seek Alternative Income Sources

Winning an Olympic medal can bring financial rewards, but most athletes participating in the Games do not reach the podium and need to find additional sources of income to support their sporting dreams. According to a 2024 survey by Global Athlete, approximately 71% of Olympic, Paralympic, and aspiring athletes have a paid job outside of sports.

These competitors face the challenge of balancing intensive and costly training with the need to make a living. To reach the Olympics, athletes invest years in preparation and incur high costs for training, travel, and equipment. Although some receive scholarships or grants, many still rely on financial support from their parents, championship prizes, and flexible jobs.

The financial reality for athletes varies significantly worldwide. While Brazilian gold medalists receive $64,000, athletes from countries like Singapore can earn up to $737,000 for a gold medal.

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Some athletes turn to platforms like OnlyFans to boost their income. British diver Jack Laugher and New Zealand rower Robbie Manson use the subscription platform to support themselves. “I earn more than twice what I would as an athlete,” says Manson.

Other athletes maintain traditional jobs. American boxer Morelle McCane worked as a party clown, daycare supervisor, and delivery person to fund her participation in the Paris 2024 Games. US rower Olivia Coffey built a career in finance, while American Olympic athletes Nic Fink, Canyon Berry, and Jesse Grupper work as engineers.

Social media influence also serves as an income source for some athletes. Brazilian athletes like Rebeca Andrade and Rayssa Leal leverage their millions of Instagram followers to attract sponsorships from major brands. Influencer-athletes, such as Simone Biles and Sunisa Lee, use their platforms to increase engagement and sponsorship opportunities.

Despite the challenges, some athletes find financial success outside of the Olympics. For instance, Simone Biles earned $7.1 million in 2023. NBA players like LeBron James and Stephen Curry are among the highest-paid athletes at Paris 2024, with earnings reaching $128.8 million per year.

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For many athletes, the sports career begins early and ends before the age of 30. Consequently, many prepare for the future by studying in other fields. Rebeca Andrade is studying psychology, while Flavia Saraiva is pursuing advertising. Others, such as Jade Barbosa and Beatriz Haddad, have already graduated in marketing and administration, respectively.

The financial challenges and need to seek additional income sources are realities for many Olympic athletes, who must balance their sports passions with survival in the real world.

Beyoncé Takes a Leap and Launches Her Own Whisky Brand

Graziela Alves
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0
Beyoncé Takes a Leap and Launches Her Own Whisky Brand

This week, one of the world’s biggest singers, Beyoncé, announced the launch of her own whisky brand, SirDavis, named in honor of her great-grandfather Davis Hogue. In collaboration with Moët Hennessy, the new label was developed in the United States but is inspired by traditional Scottish and Japanese whisky styles.

The whisky is more than just a celebrity-branded product; Beyoncé was deeply involved in every step of its development, from the bottle design to the flavor of the liquid.

The name SirDavis reflects her family history, with her great-grandfather being one of the first Black men in his community to be called “Sir” during Prohibition.

The bottle, notable for its tall and elegant design in a rosé gold tone, aims to represent the balance between femininity and masculinity, a concept Beyoncé wanted to convey.

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The production process combines traditional elements with an innovative touch. Although made in the USA, SirDavis draws inspiration from Japanese and Scottish whiskies, featuring a recipe that includes malted barley and undergoes two stages of aging: first in American oak barrels, then in Pedro Ximenez sherry casks.

The result is a whisky with notes of honey, brioche, and caramel, suitable for both connoisseurs and casual enthusiasts. The launch represents another collaboration between Beyoncé and the LVMH group, with whom she already has other partnerships, such as the Champagne Armand de Brignac, co-owned by Jay-Z.

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Despite the backing of an industry giant, the launch will be gradual and selective, with pre-sales starting on August 20 and official availability in select stores in the US and major cities like London, Paris, and Tokyo.

With a suggested retail price of $89 per bottle, SirDavis is set to attract both fans of the artist and whisky enthusiasts seeking a unique and sophisticated experience.

Former Bayer CEO Shares 5 Tips for Building a Successful Career

Graziela Alves
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0
Former Bayer CEO Shares 5 Tips for Building a Successful Career

Lara Yumi Tsuji Bezerra built a remarkable 27-year career as an international executive and CEO across seven countries and three continents, leading companies like Bayer and Roche. Growing up in São Paulo, the daughter of doctors, she was surrounded by stories of patients and the challenges of healthcare, inspiring her to pursue a career where she could help people while excelling in the corporate world.

Throughout her career, Bezerra became the first woman in several leadership positions. She aimed to create an environment where her predominantly male colleagues felt comfortable while also introducing new perspectives and solutions.

Her goal was always to combine professional excellence with the desire to do good and find happiness at work. This multifaceted experience led her to take on various roles within companies until she achieved global leadership positions.

One of the most significant moments in her career was stepping onto the international stage, where she became the first woman to lead Bayer in Latin America, specifically in Venezuela, and also the first president of the Germany/Venezuela Chamber of Commerce.

Later, she served as CEO of Roche Pharma in India, completing her executive mission in 2019. Bezerra offers five key lessons for those looking to build an international career, emphasizing the importance of learning, proactivity, and mindset.

In addition to English, mastering other languages, such as Spanish, broadens global opportunities. If you’re aiming to build an international career, there are a few strategies that can facilitate this path. One is to seek opportunities in multinational companies, which often offer the possibility of transferring to other countries.

Working in such companies not only opens doors to global mobility but also allows you to expand your network and engage in international projects, demonstrating flexibility and a willingness to learn in different environments.

Moreover, it is essential to adopt an open mindset, adapt to different cultures, and respect new perspectives. These are crucial skills for successfully integrating into global environments. Respecting cultural diversity and the ability to appreciate varied viewpoints can significantly impact your performance in multicultural teams.

Another important point is understanding the local leadership style. Each country and culture has its own ways of leading and managing teams. Understanding how your personal and professional traits align with these different styles helps you adapt your leadership effectively, increasing your chances of success in an international setting.

Showing interest in international transfers and projects is crucial for opening doors to new opportunities. Demonstrating initiative by volunteering for global experiences not only puts you on the radar of your company’s leaders but also highlights your willingness to face challenges and continuously develop in a global environment.

In 2020, Bezerra founded Workcoherence in the United States, a consulting firm focused on mentoring and coaching, with the goal of helping leaders discover and align their purposes. Her work has already impacted over 180 executives, and she will be one of the speakers at the Salto Alto program, an event aimed at women leaders in the U.S.

OpenAI Partners to Train ChatGPT with Exclusive Content

Graziela Alves
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OpenAI Partners to Train ChatGPT with Exclusive Content

This week, OpenAI announced a new partnership with Condé Nast, a giant in the publishing industry, allowing tools like ChatGPT and SearchGPT to utilize exclusive content from renowned publications such as Vogue, The New Yorker, GQ, Wired, and Vanity Fair.

With this collaboration, OpenAI expands its data sources with high-quality information, aiming to provide even more relevant and accurate responses to users.

This partnership highlights the growing trend of collaboration between technology companies and media outlets, as they seek new ways to monetize content in a digital landscape. For Condé Nast, the agreement represents an opportunity to extend the reach of its publications and generate new revenue streams.

The initiative comes at a time of intense debate over the role of artificial intelligence in media. As the production of AI-generated content increases, news organizations are increasingly concerned with protecting their copyrights and ensuring fair compensation.

On the other hand, OpenAI is focused on forming partnerships that facilitate access to quality content while offering new financial opportunities for media companies.

In recent months, OpenAI has also secured agreements with Time magazine and News Corp., further strengthening its market position by accessing exclusive content from traditional publications.

Offline Dating Gains Traction as Apps Lose Steam

Graziela Alves
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0
Offline Dating Gains Traction as Apps Lose Steam

Dating apps, once popular among young singles, are seeing their appeal wane. Tinder, which revolutionized online dating with its 2012 launch, and its main competitor, Bumble, are now facing significant challenges. According to The Economist, the hype around these apps appears to be fading.

On July 30, Match Group, the owner of Tinder, reported a quarterly revenue growth of just 4% compared to the previous year. Bumble is also expected to show modest results in its earnings report on August 7. Since going public in February 2021, the market value of both companies has dropped by approximately 80%.

This slowdown comes at a time when many singles are returning to offline dating. Data from Eventbrite reveals a 42% increase in attendance at singles events between 2022 and 2023. In response, Tinder has started promoting in-person events, while Bumble is repositioning itself as a “connections company,” expanding its focus beyond dating.

Seeking Authentic Connections

This shift reflects a desire for more authentic interactions, less mediated by screens. While apps have facilitated meeting new people, many singles are rediscovering the value of in-person encounters, where chemistry and connection are assessed in real-time, without the limitations of online conversations.

As offline dating gains popularity, digital platforms face the challenge of remaining relevant. Market saturation and user fatigue with the current app format suggest that the online dating industry needs to reinvent itself. Even with a substantial user base, the trend indicates that companies in the sector must innovate to keep up with changing consumer behavior.

The future of dating apps depends on their ability to adapt. Integrating online and offline experiences, creating opportunities for real-life interactions, may be a solution to revitalize user interest. However, the challenge remains: balancing digital convenience with the authenticity of in-person meetings.

What Is a CEO’s Routine Like? Meet Starbucks’ Leader

Graziela Alves
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0
What Is a CEO’s Routine Like? Meet Starbucks’ Leader

You might think that being a CEO of a large company like Starbucks requires long hours. Well, Brian Niccol, the current leader, is here to prove that with organization, you can be productive and work fewer hours.

Hired after gaining prominence as CEO of Chipotle Mexican Grill, Brian joined Starbucks and began implementing his ideas. He starts his workday at 10 a.m. and refuses to work past 6 p.m.

His daily routine begins at 7 a.m. with physical exercise, followed by arriving at the office at 10 a.m. During the next two hours, he holds daily meetings at work and then takes lunch.

In the afternoon, he returns to manage his tasks at the office and leaves for home after 6 p.m. With this routine, the CEO managed to further grow the company, as Starbucks’ stock rose by 25% after his appointment.

Additionally, Brian Niccol earned a salary of $21 million annually, along with a signing bonus of $113 million.

The daily routine of a successful CEO like Brian Niccol demonstrates that strategic time management and clear boundaries can lead to remarkable productivity and company growth. Niccol’s disciplined approach has not only propelled Starbucks to new heights but also earned him a lucrative compensation package, underscoring the impact of effective leadership.

From Hype to Frustration: The Challenges Facing Plant-Based Startups

Graziela Alves
-
0
From Hype to Frustration: The Challenges Facing Plant-Based Startups

The initial excitement surrounding alternative protein startups, fueled by names like Impossible Foods and Beyond Meat, has given way to a harsher reality in 2024. After attracting over $1.6 billion in investments, the sector is facing significant challenges, with many startups being forced to reassess their operations or even shut down.

The promised revolution in protein consumption has yet to materialize. According to TechCrunch, despite the emergence of around 200 startups globally, the annual production of plant-based meats is only 15,000 tons, compared to 500,000 tons of animal meat.

Paul Shapiro, CEO of Better Meat, highlighted that the current landscape is a “reality check” for the sector, which is still far from achieving significant market presence. He believes that any expectations of seeing cultivated meat in major supermarket chains or fast-food outlets within the next decade are unrealistic.

The challenging situation is exacerbated by the “VC winter,” which has drastically reduced available funding. Startups like New Age Eats ceased operations in early 2023 due to a lack of capital, while Upside Foods and Aleph Farms have faced layoffs and project delays.

David Kaplan, a biomedical engineering professor at Tufts University, points out that the economic environment and the pullback in investments are making the biotech market extremely cautious. According to CrunchBase data, investments in alternative proteins plummeted in 2024, from over $1.6 billion in 2021 and 2022 to less than $20 million by June of this year.

Top Remote Jobs with High Salaries for 2024

Graziela Alves
-
0
Top Remote Jobs with High Salaries for 2024

While fully remote work is on the decline, certain roles, particularly in the technology sector, continue to offer high salaries and flexibility. Recent data indicates a moderate recovery in remote job listings, with a 7% growth in the second quarter of 2024, while hybrid positions surged by 40%.

A study by Ladders reveals that despite an initial slight decline, the demand for remote roles with six-figure salaries (in dollars) increased by 20% in the last quarter. For instance, the position of a program manager can command an annual salary of up to $172,851.

John Mullinix, Marketing Director at Ladders, attributes the salary increase to economic recovery and companies investing in new initiatives. “With rising inflation, companies are adjusting salaries to attract and retain talent in fields such as technology, healthcare, and engineering,” says Mullinix.

A survey by HR Tech Infojobs in partnership with Grupo Top RH reveals that 85% of professionals would consider changing jobs for more remote workdays. However, a fully remote workweek is becoming less common.

Top Remote Jobs for 2024

Ladders identified the following roles as the highest-paying for remote work:

1. Project Manager
– Salary Range: $128,376 to $160,574
– Description: Responsible for ensuring deadlines are met and stakeholder satisfaction. This role is crucial across various sectors and is not easily replaced by AI.

2. Software Engineer
– Salary Range: $72,460 to $188,310
– Description: With a 25% increase in demand, this position is among the most sought-after for remote work.

3. Senior Software Engineer
– Salary Range: $113,700 to $135,700
– Description: Requires advanced leadership skills and technical expertise, with opportunities to advance to positions like VP of Engineering.

4. General Manager
– Salary Range: $78,356 to $105,170
– Description: Oversees operations and departments, requiring significant experience and project management skills.

5. Program Manager
– Salary Range: $129,604 to $172,851
– Description: Involves the implementation of organizational and community programs, with a demand growth of 6% above the average job growth rate.

Although the remote job market is evolving, these positions stand out as lucrative options for those seeking flexibility and high salaries. Platforms like LinkedIn, Indeed, and FlexJobs can assist in finding these global opportunities.

Nissan Invests in Cutting-Edge Paint Technology for Its Models

Graziela Alves
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0
Nissan Invests in Cutting-Edge Paint Technology for Its Models

 

Last week, Nissan, the renowned Japanese automaker, unveiled its pioneering paint technology designed to enhance vehicle heat management while contributing to a positive environmental impact.

The paint was developed in partnership with Radi-Cool, a leader in radiative cooling solutions.

To create this paint, Nissan used compounds from a metamaterial with unique electromagnetic properties. This product acts as a shield against the sun’s rays, preventing the vehicle from heating up. The technology reflects and redirects the rays away from the car.

In one of the tests conducted, the automaker selected two models—one with the Radi-Cool paint and the other with a standard paint. The vehicle with the new technology showed an external temperature 12°C lower, while the interior was 5°C cooler compared to the other vehicle.

Nissan began considering this technology in 2021, with the goal of implementing more sustainable practices within the company. These efforts aim to combat climate change, reduce emissions, and potentially decarbonize their models.

In total, the company tested around 100 samples of the paint and doesn’t plan to stop there—the goal is to reach 120 microns, roughly six times thinner than the standard.

Twitter’s Chapter Ends in Brazil

Graziela Alves
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0
Twitter’s Chapter Ends in Brazil

Over the weekend, Elon Musk’s platform X, formerly known as Twitter, experienced a significant shake-up in Brazil, culminating in the termination of approximately 40 employees. The announcement, made on Saturday the 17th, pointed to Alexandre de Moraes, Minister of Brazil’s Supreme Federal Court (STF), as the catalyst for this decision.

Notably, the Minister had previously blocked accounts and profiles on the platform that violated Brazilian law, with non-compliance incurring a hefty daily fine of R$50,000. In light of these actions, the company issued a statement emphasizing their priority: “To ensure the safety of our team, we have made the difficult decision to cease our operations in Brazil immediately. The X service remains available to the Brazilian public. We deeply regret having to take this step.”

Earlier in April, Musk had already hinted at a potential shutdown of the platform’s Brazilian office in response to Moraes’ rulings. He expressed his discontent with the increasing demands for censorship in Brazil, stating, “Given these circumstances, we’re likely to lose all revenue from Brazil and will have no choice but to close our office there. However, principles matter more than profit.”

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