Fortune’s Post

The hustle is back in style. In a recent 2,300-person survey, more than one in three U.S. adult respondents (36%) told Bankrate they have a side hustle. The side-hustle craze is only becoming more lucrative. In 2023, extra work aside from one’s primary income resulted in an extra $810 per month; this year, it’s up to $891. Not everyone is equally invested in the practice Read more: https://lnkd.in/e5GuuqSz

You’ve seen the Mighty Patch before. The tiny, translucent disks are increasingly adorning the faces of Gen Z and millennials when a pimple appears, and over 1 billion of the brand’s signature hydrocolloid patches have sold thus far. Manufacturer Hero Cosmetics also recently netted a partnership with content creator Alix Earle. Founder and CEO Ju Rhyu told Fortune she came up with the idea for the brand while living as an expat in South Korea while working for Samsung in 2012. At the time, only two types of hydrocolloid patches existed in K-Beauty: medical and cosmetic-oriented. The entrepreneur wanted to bridge the gap and bring pimple patches to the U.S., seeing an opportunity in the $3.9 billion K-Beauty industry. So in 2017, when she was 37 years old, Rhyu launched her brand along with cofounders Dwight Lee and Andrew Lee, capitalizing on their corporate expertise and a cool $50,000 the trio had pooled together. Read more: https://lnkd.in/enPnx2kP

Donald Trump’s campaign said in a statement that he was “fine” after being whisked off the stage at a rally in Butler, Pennsylvania after apparent gunshots rang through the crowd. “President Trump thanks law enforcement and first responders for their quick action during this heinous act,” spokesman Steven Cheung said in a statement. “He is fine and is being checked out at a local medical facility. More details will follow.” The Secret Service said in a statement that “the former President is safe.” Read more: https://lnkd.in/eF9QxQTg

Before last week, few people outside of Hollywood had heard of David Ellison, former actor, life-long aviation enthusiast, film producer, and, notably, son of billionaire Oracle founder Larry Ellison. Just a few days ago, however, the 41-year-old’s company Skydance Media clinched a $8 billion deal to buy and merge with the struggling film and television company Paramount Global. Now, Ellison is a mogul-in-waiting and the latest member in the growing club of nepo CEOs. The concept of nepotism has been with us since the mid-17th Century, when Italian Catholic popes began giving their nephews, or nipote, high-ranking church positions strictly because of familial ties. Even now, it’s a practice humans can’t seem to shake. But nepo babies are everywhere, including at the helm of large public companies, where they can be judged harshly. Read more: https://lnkd.in/e8pJ7nVk

While Americans are already burdened with massive student loan debts that will take decades to pay off as the cost of education continues to grow, schools have been hiking tuition. But a report from Fitch Ratings said recent increases at private colleges and universities still weren’t enough to keep pace with rising expenses. Last fiscal year, the median adjusted operating margin fell to its lowest point in over a decade, according to the ratings agency. That’s even as schools’ investment levels and support from their endowments was relatively steady. And the outlook doesn’t appear any better. Read more: https://lnkd.in/esv4qP4n

While U.S. employees grapple with an epidemic of loneliness and burnout, working women are at even higher risk of fatigue than their male counterparts. About 44% of female staffers in the U.S. say they are burnt out from their job, while only 36% of their male coworkers feel the same way, according to new data from LinkedIn shared exclusively with Fortune. Catherine Fischer, career expert at LinkedIn, tells Fortune this discrepancy is most likely due to the fact that women are expected to both work full time and shoulder the majority of household responsibilities. “Oftentimes women are balancing more in terms of life and work life,” she says. Read more: https://lnkd.in/gDmGFs9r

The U.K.’s new Labour government has emerged from its landslide election victory, promising to return the country to its economic heights. The latest evidence of worker pay growth will give them a good platform to deliver on that promise. Wages rose by 7% in the U.K. in the year to June, according to data from the Indeed Hiring Lab. That’s almost twice the rate of the Eurozone, where wages increased by 3.7%, and more than double growth in the U.S., which rose at 3.1%. bit.ly/4cGf1jG

The Chicago-based financial firm Jump Trading had made its name in the shadowy world of high-frequency trading during the early 2000s “Flash Boys” era, but lately, it had dipped its toes—and then its feet, legs, and torso—into the volatile cryptocurrency sector. The firm had become a kind of silent partner for one of the most high-profile projects in crypto, an algorithmic stablecoin called TerraUSD that was meant to maintain a $1 peg through a complex mechanism tied to a related cryptocurrency called Luna. But despite the bluster of Terra’s swaggering founder, Do Kwon, the stablecoin was failing. It had lost its peg. Jump stood to make millions on its deal with Terraform Labs, the TerraUSD developer—or the whole thing could quickly collapse. Jump’s cofounder, Bill DiSomma, was not ready to abandon his prize pig. So he hopped onto the crypto team’s always-on Zoom meeting, looking for a solution. After a few minutes, one emerged: Kanav Kariya, a 25-year-old recent intern who was rising through the ranks of the digital assets division, joined the call, according to an employee’s later court testimony. Read the full story:

When asked whether he deliberately charted a path to the corner office, Whole Foods Market CEO Jason Buechel's response was immediate. “Absolutely not,” he chuckled. It’s a sentiment echoed by many C-suite executives, including those who didn’t follow a traditional path to the top. Instead of meticulously planning their ascent, they attribute their success to excelling in each role they undertook. Read more: https://lnkd.in/eVHfchYE