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Opinions expressed by Entrepreneur contributors are their own. For the ambitious entrepreneur, there is an ever-growing list of exciting new sector opportunities to explore. Many of these, especially those with billion to trillion-dollar valuations, belong to growth industries, which are defined as sectors of the global economy that experience higher-than-average growth rate. These sectors host a high volume of new products and services that entice consumer demand, and many of them are often new or pioneer industries that were non-existent in the past decades. From the rise of services and products enhanced by generative AI technologies to the attractive growth projections reported in sectors such as the Internet of Things, cybersecurity, robotics and even space technologies, growth industries have the potential to shape the future we will live in. A McKinsey report on future growth industries said that around 18 sectors are deemed to be transformative, with the potential to reshape the global economy, making revenues worth between $29 trillion and $48 trillion by 2040. Take the longevity industry, which I operate in through Seveno Capital, for instance, which has taken a bold stance to meaningfully extend the human health span through holistic and scientific measures. This emerging sector, which has been projected to be worth trillions by 2030, has been grabbing headlines in 2025. This growth industry’s impressive projections is thanks to a realisation that a significant proportion of the current ageing population has a strong desire to live longer, fuller and healthier lives. Visionary entrepreneurs are often keen to be early starters in these arenas, a strategic position which could result in significant market share capture and resulting revenue in the coming years. As an entrepreneur and investor who recently entered a high-growth industry myself, I would like to share five useful tips that entrepreneurs need to know about before they make the bold step forward. Related: 5 Ways to Spot Trends Before They Explode — and Turn Them Into Growth 1. Know your industry Entrepreneurs entering a growth industry should know the ins and outs of the sector and target regions, from the movement of the regulatory landscape to trends to discussions around ethics and social effects, especially where new technologies are involved. Keeping up to date with reports on growth industry challenges and opportunities, such as ones produced by the likes of BCG and McKinsey, should be a high-priority item on the entrepreneur’s list of daily tasks. More importantly, networking with other players within the industry through online forums, conferences and roundtable meetings is key to getting to know your sector. To help you better understand the prospect of a growth industry, analyze past and present trends across multiple timeframes. See the big picture. Make sure that the highly valued stocks and sky-high valuations are part of a wider trajectory rather than being results of a short-term microtrend. 2. Future-proof your company There is always risk involved when entrepreneurs enter a growth industry for the first time, so to prepare for this, you need to build a resilient ship that can withstand any storms in the form of market fluctuations and black swan events. A few factors are important to do this. You have to create flexible business operations that could adapt and change to changes in the wider landscape, for example, if you were previously set only on working in an office, think again and prepare for a digital interface that could run all operations and keep your team collaborating smoothly. Entering a growth industry usually requires entrepreneurs to be familiar with new technologies. Invest in continuous learning and upskilling across the board so you can be in a good position to stand out among competitors and continue innovating when trends change in the future. Related: 7 Tips to Enter a New Market and Experience Rapid Growth 3. Build the A-team The key to success in a highly competitive sector, especially one that is emerging, is finding the right talent for the job. This requires thorough research and analysis, including identifying the type of skillset future competitors within the industry are prioritizing. This can definitely be a daunting task, as brand presence is required to attract top talent in the first place. This is where it is important for the business to promote its unique business culture on innovative platforms, especially those utilised by younger generations, which require little to no marketing budget. Since newer industries can be more challenging to hire for, focus on both the relevant skills the business needs and any transferable skills from previous experience that could prove to be valuable in a new growth market. Once you attract the right talent, foster a progressive business culture and offer attractive perks and flexibility where possible, to encourage them to trust your company and stay. A collaborative approach used to communicate between management and employees will also increase feelings of loyalty to the company and the brand, keeping turnover low to zero. 4. Focus on personalized services Growth industries are so tech-focused that sometimes, companies can seem impersonal to their customers. Do not make this mistake. In a world where automation is removing even customer service helplines, building a service-oriented company would help your business stand out from the crowd. Utilize the power of AI technologies to support your business in a way that enables it to then focus on creating more personalized customer interactions and services. Finding the right balance between technology and the human touch will be crucial in attracting your customer base and building brand loyalty. Related: 5 Innovative Ways to Give Your Customers the Personalized Experiences They Want 5. It’s a race — keep up with the speed One thing you cannot afford to do when entering a growth industry is to rest on your laurels. The speed of innovation in industries like these can be overwhelming, so entrepreneurs need to be prepared to do their homework and keep up to speed with changes, which can sometimes occur daily, in a sector like the video game industry,

Disclosure: Our goal is to feature products and services that we think you’ll find interesting and useful. If you purchase them, Entrepreneur may get a small share of the revenue from the sale from our commerce partners. You don’t need a $5,000-a-month marketing firm to get results. With the Ultimate 2025 Social Media & Freelancer Marketing Bundle, you’ll gain lifetime access to 10 expertly designed courses covering social media strategy, personal branding, and online business growth—all for just $34.99 (MSRP: $200) for a limited time. Packed with 5.9 hours of actionable lessons, this bundle shows you how to leverage platforms like TikTok, Instagram, Pinterest, YouTube, and more—without spending your entire workweek trying to figure out algorithms. You’ll also learn how to use ChatGPT to generate viral content ideas, design scroll-stopping thumbnails, and write compelling blogs that boost SEO. Another advantage of this bundle is the flexibility it offers for real-world applications. You’re not just passively watching videos—you’ll walk away with practical, ready-to-use strategies that can be implemented immediately in your business or side hustle. Whether it’s optimizing a blog post for search visibility, refining your TikTok hook to grab attention in the first three seconds, or creating a YouTube thumbnail that drives clicks, each course delivers actionable steps you can put into play the same day. For small-business owners, freelancers, or corporate leaders wanting to sharpen their team’s marketing skills, this bundle delivers practical strategies you can implement the same day you learn them. With this self-paced, always-accessible training, you can adapt faster—on your schedule and at a fraction of the usual cost. Get lifetime access to the Ultimate 2025 Social Media & Freelancer Marketing Bundle while it’s on sale for just $34.99 (MSRP: $200) for a limited time. The Ultimate 2025 Social Media & Freelancer Marketing Bundle See Deal StackSocial prices subject to change. You don’t need a $5,000-a-month marketing firm to get results. With the Ultimate 2025 Social Media & Freelancer Marketing Bundle, you’ll gain lifetime access to 10 expertly designed courses covering social media strategy, personal branding, and online business growth—all for just $34.99 (MSRP: $200) for a limited time. Packed with 5.9 hours of actionable lessons, this bundle shows you how to leverage platforms like TikTok, Instagram, Pinterest, YouTube, and more—without spending your entire workweek trying to figure out algorithms. You’ll also learn how to use ChatGPT to generate viral content ideas, design scroll-stopping thumbnails, and write compelling blogs that boost SEO. Another advantage of this bundle is the flexibility it offers for real-world applications. You’re not just passively watching videos—you’ll walk away with practical, ready-to-use strategies that can be implemented immediately in your business or side hustle. The rest of this article is locked. Join Entrepreneur+ today for access. Read More

Opinions expressed by Entrepreneur contributors are their own. If you’ve ever thought, “Maybe I just need another offer,” you’re not alone. Many entrepreneurs, especially in service-based businesses, get stuck in the cycle of adding more services and more packages to try to capture different types of clients or boost cash flow quickly. Unfortunately, more offers is rarely the answer. Related: 5 Ways to Tell If Your Company Should Start Offering a New Product The allure of adding more It makes sense in theory to add a new offering — if you add another offer, surely that widens your net, right? You figure you’ll meet more people where they are, increase chances of conversion and maybe bring in more recurring revenue. But instead, if you’re adding offers too frequently and too quickly, your marketing becomes diluted and confusing to your audience. Your average consumer may end up spending more time trying to decide what to buy instead of having a clean, smooth sales funnel. Then, once you’ve sold a few of each of your offers over time, it becomes really complicated to service those offerings. Your time gets split, billing gets confusing, and in my experience, service quality usually declines. What starts as an effort to grow can quickly become a trap, draining your team’s energy and your business’s momentum. Instead, your best marketing asset is a clear message and a confident sales process. The power of fewer, better offers Here’s what I’d do instead. Focus your effort on one core offer that solves a big, specific problem, and refine the hell out of it. When you refine offers instead of replacing them or adding to them constantly, you have a chance to get the same benefit of tweaking your offer to meet the market — which you absolutely should — with less confusion to your audience. Once you launch that offer, start A/B testing messaging with your audience. See what resonates, and then slowly move your messaging more towards that. Monitor how long clients stay with the offer. Ask them what they like about it and what they wish it included, and maybe create an add-on to address the needs that surface. Don’t get me wrong — I still recommend you try lots of new things and iterate quickly, shedding things that aren’t working and doubling down on things that are. Just use those learnings to iterate on what you already have, instead of launching something new every other day. This also doesn’t mean you can only sell one thing forever. But if your core offer isn’t selling, don’t assume you need a second one. You may just need to optimize the one you’ve got. Related: Is Your Offer Not Selling? Try These 3 Fixes to Make It Irresistible. What to ask yourself before launching a new offer If you’re tempted to build out yet another service, take a pause and ask yourself a few things. First: Have you fully optimized the marketing, pricing and delivery of your current offers? Do you have enough volume to even know where people are dropping off in your existing conversion funnel, and to know how clients feel about their experience with you? Next: Can you actually handle another offer right now? Do you or your team have the bandwidth to service it? It feels nice to sell something, but it won’t last without proper servicing. Lastly: Are you solving a real pain point, or are you projecting what you want to sell? Why do you think this offer will resonate? What data do you have to prove it? If your answers don’t point clearly toward expansion, it may be worth hitting the brakes. What to do instead of adding a new offer Let’s say you decide to hold off on that new offer idea. If things feel slow or stagnant, there are other ways to generate momentum without creating an entirely new service. Audit your client journey, including every single stage of your funnel. Look at where people are falling off, and what that tells you about opportunities for your pipeline to be improved. You also may just need a pricing refresh. Take a quick look at your margin in the last few months. Are you actually bringing money home? How do you compare in pricing and value to your peers and competition? I’ve seen businesses be underpriced far too often — in fact, nearly 50% of small businesses in the U.S. aren’t making any profit, and in many cases, that’s because they are afraid to charge more. Look at re-engaging audiences you already have. Reach out to past clients personally to say hi or congratulate them on their most recent milestone. Offer them an incentive to work with you again or to refer someone new to you. Sometimes, simple, personalized touches can get you the same amount of attention that yet another launch would, without the messaging confusion for your audience. Related: How to Evolve Your Core Product A bloated offer suite might feel like you’re “doing more,” but often it just muddies the waters for you, your team and your clients. Instead, get obsessed with making one thing irresistible going into this fall. Track the data, refine the messaging, and build the systems to deliver it efficiently — then revisit expansion only once that’s humming. Read More

You could call Rose Fass, 76, the “C-Suite whisperer” — because she knows exactly what it takes to transform some of the world’s most powerful companies. Image Credit: Courtesy of fassforward. Rose Fass. In 2001, following her role as chief transformation officer at Xerox and her establishment of the Center for Business Transformation at Gartner Group, Fass started her own firm: fassforward Consulting Group. Fass co-founded the company with Gavin McMahon. McMahon didn’t have a background in transformation work, but he was “very smart” and seemed like the right person for the job, especially at a time when a woman co-founder could gain more credibility by partnering with a man, Fass tells Entrepreneur. Related: I’ve Interviewed Over 100 Entrepreneurs Who Started Businesses Worth $1 Million to $1 Billion or More. Here’s Some of Their Best Advice. Fass and McMahon continue to lead the company together today. Fass is chair, and McMahon is co-CEO with David Frost. “ We translate complex strategies into something simple and executable,” Fass says. “We help leaders tell stories around those strategies. We do a lot around storytelling, leadership development and shaping culture. It really works, and we find that our clients stay with us a long time.” Today, fassforward is the “how-to” firm that helps top companies like SpaceX, American Airlines, Chick-fil-A, Verizon, Yahoo! and more position themselves for growth and success. Related: 8 Success Lessons Entrepreneurs Can Learn From Chick-fil-A But when Fass and McMahon launched the firm, first out of Fass’s house, then in a small office above the post office in Pelham, New York, they had to be strategic to land major clients — without borrowing any money along the way. The co-founders relied on three key principles to generate business, Fass says: 1. Be choosy and build a reputation: “We realized we weren’t famous, but we needed our clients to be. We didn’t want any dinky clients.” Estée Lauder was fassforward’s first client, followed by Interpublic Group and Mastercard. 2. Touch a client every day: “ You have to touch a client every day. You’re in business to do business, not to play office and get your business cards ready.” 3. Never compromise on the deliverable: “ If a client wants you to do something that you know you can’t do in the timeframe they’re requesting, be open and honest.” Related: Use This Secret Customer Service Technique to Boost Your Customer Retention and Loyalty Entrepreneur sat down with Fass to learn more about how business leaders should think about some of the most pressing opportunities and challenges in the workplace today. “AI should be considered an asset.” Fass has lived through the development of technologies that many business leaders now take for granted — like voicemail, email, text messaging and the World Wide Web — and she says that it’s a mistake to consider technology adoption “a risk.” Of course, AI is the latest to shake up the workplace and world, and Fass says that if leaders don’t embrace it, the technology will embrace them. “ How you use AI is important,” Fass explains. “It’s augmented intelligence, not a replacement for your intelligence, and you have to ask intelligent prompts and intelligent questions.” Related: AI Just Took Over the Hottest Job…in AI Many of the C-suite executives Fass counsels insist they need an AI strategy, but that’s not the right way to look at it, she says. Their strategy should always be their business strategy: AI is just a tool that can help them pursue it. “ AI should be considered an asset like your people are an asset, your product’s an asset, your footprint’s an asset, your IP, everything that you have in your company that helps you deliver on your strategy,” Fass says. “And that’s what AI does. It helps you deliver on your strategy and on the promise to your customers.” “We [women] need to be glib enough to hold our own.” When Fass started at Xerox on the management track in 1977, “it was all men selling machines.” She was supposed to learn from one of the company’s top bookers, but he was “not interested” in working with her. Then another representative asked her if she’d like to see his automatic input device — and everyone laughed. “I was so embarrassed,” Fass recalls. Fass saw two options. She could run to HR, but who would care? Or she could be glib. She chose the latter: Fass said she might be interested, but heard he shuts down after one copy. All of the men laughed again — and the booker who hadn’t wanted to work with her immediately changed his mind. “We [women] need to be glib enough to hold our own,” Fass says. “We don’t have to act like men, but we also don’t have to act like we are skittish and sensitive. I don’t think you should take any crap; you have to be able to give it back in a way that you gain respect.” Related: This 103-Year-Old Doctor Opened Her Medical Practice Before Women Could Have Bank Accounts — Here Are Her 6 Secrets to a Healthy, Successful Life What’s more, Fass says women don’t have to be “one of the boys” to stand out in the professional arena. A recent client told Fass she couldn’t relate to her boss’s passion for golf and was concerned it might hinder their relationship, but Fass told her not to worry. “ I said, ‘You just took him to a really creative session,’” Fass recalls. “‘He’s brilliant. He loves to use his mind. That’s where you create the opportunity.’ You don’t have to be in the boys’ camp. That’s the advice I would give any woman. Find ways to be yourself and authentic and do it in your own way.” “Women and men both need mentors that have been around.” Two in three working adults ages 50-plus (64%) think older workers face age discrimination in the workplace today, and just over one in 10 say they’ve been passed up for a promotion

14 probiotic-rich foods you can add to your diet Probiotics may be beneficial for gut health. From sauerkraut to buttermilk, here are some potentially probiotic-rich foods to consider Your gut microbiome contains trillions of microorganisms that work together to break down food, strengthen your immune system, regulate hormones, and balance your mood. Most of these organisms are normal and beneficial. However, when harmful bacteria enter your system, you could suffer from nausea, vomiting, diarrhea, and other flu-like symptoms. Probiotics are microorganisms found in fermented foods with live cultures. When you ingest probiotics, they may remove harmful bacteria, improve your digestion, and ease the symptoms of various digestive disorders, such as inflammatory bowel disease (IBD) and irritable bowel syndrome (IBS). They could also help you manage your weight and lower your total cholesterol. While some studies look promising, researchers are still studying the effects of probiotics on the gut microbiome. As a result, the National Institute of Health has no official recommendation for probiotics. However, if you want to try adding them to your diet, here’s a rundown of fermented foods containing probiotics along with serving suggestions. 2 / 16 Yogurt Yogurt is famous for containing live cultures, including S. thermophilus and L. bulgaricus. Some brands offer 100 million cultures per gram, making yogurt one of the easiest ways to get more probiotics in your diet. Try enjoying plain, unsweetened yogurt with sliced fruit or a drizzle of honey. 3 / 16 Kefir Kefir is a fermented milk beverage that contains a wide range of microorganisms. Once the kefir grains ferment the milk sugars, you have a lactose-free drink that’s suitable for people with lactose allergies. Kefir also contains protein and calcium, which boost your energy, strengthen your bones, and enhance your nervous system. You can drink plain kefir or add blended fruit to mask the tanginess. 4 / 16 Sauerkraut Made from fermented cabbage, sauerkraut contains microorganisms that could protect your digestive system from inflammation. While raw cabbage doesn’t have probiotics, the fermentation process creates microorganisms that may protect you from illnesses. You also get a range of vitamins and minerals, including calcium, fiber, potassium, magnesium, and phosphorus. Common ways to enjoy sauerkraut include adding it to a sandwich, placing it on top of white rice, or eating it straight out of the jar. 5 / 16 Kimchi Kimchi’s fermented vegetables are loaded with probiotics that may nourish your gut microbiome. Famous for its intense, spicy flavor, kimchi contains probiotics that may lower blood sugar levels, reduce inflammation, and prevent yeast infections. The mixed vegetables are low-calorie and high in calcium, potassium, magnesium, and vitamin K. You can add kimchi to rice or noodles, eat it out of the jar, or enjoy it with fried eggs. 6 / 16 Miso Miso is a salty, savory Japanese condiment that’s rich in healthy bacteria. During fermentation, miso interacts with koji mold, which gives this condiment a high dose of probiotics. Miso could also lower your cancer risk and nourish your body with enzymes. To enjoy miso, you can add it to your favorite Asian dishes or make a quick soup. 7 / 16 Tempeh Originating in Indonesia, tempeh offers the health benefits of fermented soybeans. Tempeh consists of blocks of fermented soybeans that may enrich your digestive system with immunity-boosting probiotics. This low-fat ingredient is high in vitamins and minerals and contains nine amino acids. To serve tempeh, try flavoring the blocks with your favorite spices and marinades. 8 / 16 Natto Natto is a Japanese dish that contains various microorganisms, including Bacillus subtilis. When you ferment soybeans with natto bacteria, you’ll get a savory dish that’s loaded with protein, calcium, iron, potassium, and vitamin B2. Natto bacteria can also produce enzymes, help probiotics grow in your digestive system, and eliminate harmful bacteria. You can eat natto on its own or serve it over rice with a dash of soy sauce. 9 / 16 Kombucha Kombucha is a tart, fizzy beverage that gets its probiotics during the tea fermentation process. If you want to drink your probiotics, kombucha contains plenty of microorganisms that may nourish your gut flora. This beverage could also lower your cholesterol levels, help your liver function, and improve digestion. Kombucha is generally safe for healthy adults, but it may not be recommended for young children, pregnant women, or people with weakened immune systems.  10 / 16 Pickles (fermented in brine) Fermented pickles (in brine, not vinegar) contain probiotics along with nutrients and antioxidants. Regular pickles are a low-calorie snack with fiber, vitamins, and antioxidants that keep your body functioning properly. When you ferment your pickles in brine, you’ll also get probiotics that could increase your levels of beneficial gut bacteria. Pickles make a great midday snack or a savory addition to salads and sandwiches. 11 / 16 Buttermilk (traditional) A tart drink that’s a byproduct of churning milk into butter, buttermilk contains lactic acid bacteria that may improve gut health. While some dairy treats are low in probiotics, traditional buttermilk is loaded with live cultures. You also get protein, phosphorus, potassium, and vitamin B12, which promote cell repair, blood cell production, and nerve functioning. Drinking buttermilk on its own is the best way to get the probiotics because heating up this drink may kill the bacteria. 12 / 16 Apple cider vinegar (with the “mother”) Made from fermented apples, apple cider vinegar contains vitamins, minerals, and probiotics. During fermentation, apple cider vinegar forms a wispy substance called the “mother,” which gives you a dose of probiotics. The liquid could also lower your blood glucose levels, help you lose weight, and kill small amounts of bacteria on your salad. You can drink apple cider vinegar directly from the bottle or use it as a salad dressing. However, it’s best to dilute apple cider vinegar before drinking it to protect your teeth and digestive system. 13 / 16 Lassi With its cool, creamy texture, lassi is the perfect probiotic drink for hot days. Lassi gets its probiotics from the

Two multi-billion dollar minds have made their way to Capitol Hill: ChatGPT and Claude. Suggested Reading The large language models (LLMs) were provided to the federal government this month by their respective makers, OpenAI and Anthropic, for just $1. The partnerships come amid the Trump administration’s push to accelerate public-sector artificial intelligence adoption. Related Content By offering models that cost billions to train virtually for free to the country’s 15th largest workforce, OpenAI and Anthropic have secured a spot in the legislative toolbox — a position that could prove lucrative once free trials expire and workers grow reliant on their products. As OpenAI unveils GPT-5, which it claims reaches “PhD-level” performance, and Anthropic launches Claude Opus 4, reportedly capable of running “long tasks” for seven hours, the question becomes: What does it mean for the government to have these capabilities at its fingertips? In the best case, LLMs could save taxpayers billions annually by streamlining operations and enhancing policy outcomes. But processing sensitive data with products owned by private companies — and relying on imperfect, at times hallucinatory outputs for decision-making — is risky. “I’m a little worried that just throwing LLMs at workers, telling them, ‘you can use this now, it’s super cheap, and do whatever,’ isn’t really going to improve efficiency or effectiveness much — and it might introduce a bunch of new risks,” says Mia Hoffman, a research fellow at Georgetown’s Center for Security and Emerging Technology (CSET). “Obviously, LLMs are not God-like systems; they come with a bunch of issues.” The federal AI push “Agencies must cut down on bureaucratic bottlenecks and redefine AI governance as an enabler of effective and safe innovation,” the White House Office of Management and Budget (OMB) wrote in one of two memos published in April. These memos replace Biden-era guidance for the federal deployment of AI, and build on President Donald Trump’s executive order: Maintaining American Leadership in Artificial Intelligence.  The administration’s AI Action Plan, published July 23, sets out further policy recommendations, including an “AI procurement toolbox” of approved vendors for agencies to use. The plan also mandates that “all employees whose work could benefit from access to frontier language models have access to, and appropriate training for, such tools.” Under the agreements, both ChatGPT and Claude are available to agencies, with Claude’s access expected to extend to the judiciary and members of Congress “pending their approval.” So, how will they be used? Exactly how they will be deployed has not been disclosed, but the AI Action Plan cites potential applications such as “accelerating slow and often manual internal processes, streamlining public interactions, and many others.” This will likely begin with automating back-office operations, says Lindsay Gorman, managing director and senior fellow at the German Marshall Fund’s technology program — the “less glamorous components of federal government work.” The plan also calls for some agencies to pilot using AI to “improve the delivery of services to the public.” Gorman says this could mean citizen-facing AI assistants, similar to how companies use chatbots for customer service. She also foresees reasoning models having more “application-heavy” uses, such as accelerating scientific research. OpenAI claims its o3 and o4-mini models, included in ChatGPT Enterprise, are the first that can “think with images.” In theory, users can input diagrams or sketches, and the models will analyze them during their reasoning process before answering. A report from The Information claims the new models can synthesize expertise across fields like nuclear fission or pathogen detection and then suggest new experiments or ideas. More commonly, LLMs will likely be used to analyze datasets or summarize documents. “You could imagine a House representative or a senator compiling research on particular bills or policy ideas to help inform their work,” says Gorman. Some of this is already happening. Federal agencies publish an inventory of how they deploy AI, which listed 2,133 use cases as of January. The Department of Justice already uses ChatGPT for things like generating content, prompt-based search, and analyzing audit reports. Its January inventory included 241 AI entries — an increase of more than 1,500% from the year before. U.S. Immigration and Customs Enforcement (ICE) listed 19 AI use cases as of January, including the “Investigative Prioritization Aggregator,” which uses machine learning to rank targets for Homeland Security Investigations, by assigning them a score. ICE claims this is particularly critical in counter-opioid and fentanyl missions, where timely intelligence is essential. One could imagine this vast dataset being uploaded to an LLM for faster, more detailed analysis. ICE has also repeatedly accessed a national, AI-powered camera network, via local and state law enforcement agencies, without establishing a formal contract with the software provider, 404 Media reported in May. Privacy concerns The OMB instructs agencies to ensure data is collected and retained by vendors only when “reasonably necessary” for the contract’s purpose. But for agencies to get value from an LLM, they must feed it data — meaning most uses could meet that threshold. “If you’re entering queries into a model, then the companies are going to have access to those queries. So how does that get protected?” says Gorman. “What guarantees are there that if a Senate staffer inputs potentially sensitive policy information, that data will be protected — especially from foreign actors?” She adds that many startups lack strong safeguards for government data. LLMs also create new attack vectors like “indirect prompt injection” and more opportunities for data leaks, says Laurence Sotsky, CEO of AI tax platform Incentify. “New entry points for hackers move faster than policy,” he warns. Accuracy and bias LLMs can also produce errors and reflect historical prejudices. A 2024 Purdue University study found that about half of ChatGPT’s answers to programming questions contained incorrect information. While models don’t actually work like human brains, they still reflect and sometimes amplify societal biases. For example, a paper titled Gender Bias and Stereotypes in Large Language Models found that LLMs are 3-6 times more likely to assign stereotypical occupations by gender, such as “nurse” for

U.S. manufacturing production saw no growth last month compared to June as tariffs continue to take a toll on domestic businesses.  Suggested Reading Domestic manufacturing production did not change from June, which saw a 0.3% increase from May, according to new data released Friday from the Federal Reserve.  Related Content Mining dropped 0.4% while utilities decreased 0.2%. Overall, industrial production dipped 0.1% in July, the Fed said, 1.4% higher than its level the same time last year.  This new report from the Fed could indicate that U.S.-based manufacturing is starting to slow down as companies fare against steep global tariffs.  President Donald Trump introduced global tariffs back in April, and last Thursday put new tariff rates in place for nearly 70 countries after giving international exporters time to negotiate new trade deals. Trump’s tariffs range from 10% to as high as 50% and attempt to push manufacturing back to the U.S.  However, as U.S. factories pay higher costs for imported materials, production output could actually backslide. On Friday, Trump told reporters aboard Air Force One, as the president traveled to meet with Russian President Vladimir Putin, that he plans to set tariffs on steel and semiconductor chips as soon as next week.  Currently, imported steel has a 50% tariff rate — as does imported copper and aluminum.  So far, Goldman Sachs analysts said that U.S. companies have taken on the bulk of tariff-related costs, with only 22% of them passed onto consumers through June, Bloomberg reported. However, this will soon change, the firm said, as businesses pass more of the burden on to consumers.  📬 Sign up for the Daily Brief Read More

U.S. consumers’ tariff fears may soon come to fruition, as businesses will start passing off more of the tariff price hits directly onto buyers, according to a new report. Suggested Reading Through June, about 22% of tariff costs have been passed onto consumers, according to a Goldman Sachs analysis shared with Bloomberg. However, that number will rise to 67% if tariffs follow the same course as years prior, the firm said.  Related Content The core personal consumer expenditure index — which measures the rate of inflation for prices of goods and services for U.S. consumers, minus food and energy — was at a rate of 2.8% in June. Goldman analysts said in the report that the CPE will rise to 3.2% year-on-year in December. They added that when taking away the additional costs from tariffs, the inflation rate would have been 2.4%. So far, the analysts said tariffs have increased this index by 0.2% and expect it to rise 0.16% for July and 0.5% for the rest of 2025.  Tariff-induced hikes to the rate of inflation come as Federal Reserve Chair Jerome Powell has repeatedly rejected President Donald Trump’s demands to lower interest rates. In the president’s most recent move against Powell, he appointed a fellow critic to a key seat at the central bank.  The Federal Reserve has voted five times this year to keep interest rates at the same benchmark 4.25% to 4.5% range. Powell has said Fed officials want to better determine the impact of the tariffs through the economy before cutting interest rates. The decisions have ignited fury from Trump, who argues the Fed is keeping a lid on economic growth. Goldman analysts said in the report that U.S. businesses have absorbed about 64% of tariff-related costs. Companies like Apple reported a $800 million hit from tariffs and automaker GM reported tariff-related costs of over $1 billion in their respective earnings last quarter. The analysts expect that, moving forward, companies will pay less than 10% for tariff costs. They added that international exporters have taken on about 14% of tariff costs through June, but that rate could increase to 25%.  Commerce Secretary Howard Lutnick said in a Thursday interview with Fox Business that the U.S. economy gained about $30 billion in tariff revenue last month. He predicts that number to increase to $50 billion per month as more tariffs take effect.  New tariff rates on nearly 70 countries went into effect last week. But as President Trump has shown he is willing to abruptly change his mind on existing trade deals — as he did with Mexico and Canada — getting a grasp on exactly how much tariffs will impact U.S. consumers could prove to be difficult.  —Joseph Zeballos-Roig and Jennifer Ortakales Dawkins contributed to this article.  📬 Sign up for the Daily Brief Read More

President Donald Trump said he plans to put tariffs on imported steel and semiconductor chips as soon as next week, a report said.  Suggested Reading “I’ll be setting tariffs next week and the week after on steel and on, I would say, chips,” the president said on Friday to reporters aboard Air Force One as he travels to Alaska to meet with Russian President Vladimir Putin, Reuters reported.  Related Content “I’m going to have a rate that is going to be lower at the beginning — that gives them a chance to come in and build — and very high after a certain period of time,” Trump said according to the report. At the beginning of June, the president placed a 50% tariff rate on imported steel and aluminum. And just last week, he said he would put a 100% tariff on chips, adding that if companies build in the U.S. then “there is no charge.” Trump made the announcement during a press conference in the Oval Office with Apple CEO Tim Cook. During the conference, Cook said the iPhone maker is investing an extra $100 billion in the U.S., bringing the total of its planned corporate domestic spending to $600 billion over four years. “But the good news for companies like Apple is if you’re building in the United States or have committed to build, without question, committed to build in the United States, there will be no charge,” the president added.  “The higher you go, the more likely it is they build a plant here,” President Trump said in mid-June at the White House in regards to a possible tariff rate hike on imported autos.  The policy, part of Trump’s “America First” agenda, aims to bolster domestic manufacturing by penalizing companies that rely on overseas chip production. For AI companies, the stakes are particularly high. Semiconductors are the backbone of AI infrastructure, powering everything from data centers to autonomous vehicles. Yet while Trump’s semiconductor tariffs threaten global supply chains, years of U.S. buildout plans have left AI’s biggest firms largely insulated.  — Joseph Zeballos-Roig and Shannon Carroll contributed to this article.  📬 Sign up for the Daily Brief Read More

The company said its net revenue for the first six months of 2025 was $67.9 million, against a net loss of $282.5 million. Updated Aug 16, 2025, 3:16 p.m. Published Aug 16, 2025, 3:15 p.m. Crypto exchange Gemini filed an updated registration statement for its initial public offering effort, sharing a few more details in its push to become a publicly traded firm. Goldman Sachs (GS), Citigroup (C), Morgan Stanley (MS) and Cantor acting as lead bookrunners on the IPO, Gemini said in a press release Friday. Evercore ISI, Mizuho, Truist Securities, Cohen & Company Capital Markets, Keefe, Bruyette & Woods, Needham & Company and Rosenblatt are also acting as bookrunners, the company said. Academy Securities and AmeriVet Securities are acting as co-managers. The S-1 published on Friday follows a confidential filing submitted to the U.S. Securities and Exchange Commission back in June, and confirms “Gemini Space Station,” co-founded by Cameron and Tyler Winklevoss, intends to sell an undisclosed number of Class A shares. Gemini’s filing indicated that it had generated total revenue of $142.2 million in 2024, up from $98.1 million the prior year. For the six months ending on June 30, 2025, the total revenue was $68.6 million, down from $74.3 million in the first six months of 2024. Its net loss in 2024 stood at $158.6 million, compared to $319.7 million in 2023. That figure stood at $282.5 million for the first six months of 2025. Its earnings before interest, taxes, depreciation and amortization for 2024 stood at a loss of $13.2 million, and a loss of $113.5 million for the first half of 2025. Like other crypto firms, Gemini pointed to standard risks in the risk portion of the filing, including the general nature of blockchain networks and how banks and regulators view the industry. “Key factors influencing the further development of blockchain networks and digital assets include the global adoption of digital assets and blockchain technology; regulatory and quasi-government restrictions on access to and operation of blockchain networks; and the maintenance of open source protocols that support blockchain networks,” the filing said. Gemini is only the latest crypto company to try and go public this year, following Circle (CRCL), eToro (ETOR) and CoinDesk parent company Bullish (BLSH). BitGo has filed for paperwork to go public as well. Gemini plans to list its Class A common stock on the Nasdaq Global Select Market under the ticker symbol GEMI. Read more: Billionaire Winklevoss Twins-Backed Exchange Gemini Files With SEC For Planned IPO Nikhilesh De Nikhilesh De is CoinDesk’s managing editor for global policy and regulation, covering regulators, lawmakers and institutions. He owns < $50 in BTC and < $20 in ETH. He won a Gerald Loeb award in the beat reporting category as part of CoinDesk's blockbuster FTX coverage in 2023, and was named the Association of Cryptocurrency Journalists and Researchers' Journalist of the Year in 2020. X icon Will Canny Will Canny is an experienced market reporter with a demonstrated history of working in the financial services industry. He’s now covering the crypto beat as a finance reporter at CoinDesk. He owns more than $1,000 of SOL. X icon More For You XRP Ledger Used by Nasdaq-Listed Pharma Distributor to Power Payment System for Pharmacies The distributor is rolling out an XRPL-powered system for 6,500 pharmacies to speed up payments, cut costs, and expand blockchain use in healthcare finance. What to know: Wellgistics Health launched an XRP Ledger payment program serving thousands of pharmacies and manufacturers. The company disclosed in May that it will also adopt XRP as a treasury reserve asset. Read full story Read More