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By Ted Williams |
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Hello Thursday. I’m picking up my 10 year old son from summer camp on Saturday morning. I miss him. He's only written us two letters 😂! WTF!
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The past four weeks have given me a tiny glimpse of life after kids leave home. Weird. I'm getting old.
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Typically, I lie in bed next to my son each night for 20 minutes before he goes to sleep. Setting a terrible example, I watch TikTok videos as he reads a book.
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Kids always want the thing that's the hardest to give, time.
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I started the Charlotte Agenda when my son was 2 months old. When I sold it, scaled it, and it sold again — it felt awesome. But not as good as dad stuff.
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I used to say, "This business is my baby." I no longer believe that. Babies are much cooler than business. Anyways.
💼 Hot Job: Associate Director, Communications at Huntington Bank ($93K – $189K). Lead corporate comms. Work with Chief Communications Officer Tim Miller.
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💰 Number: $1.25M. Amount that 24 Hours of Booty will raise this weekend. Expect 1,000 bike riders, walkers, and ruckers. Well done Spencer and Katherine!
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👨 Shout-out: Jesse Cureton, former Novant exec and all-around good dude, for being named the new president of Queens University.
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MARKETS: YEAR-TO-DATE
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S&P 500 |
6,358 |
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Nasdaq |
21,020 |
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BULLISH
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29-year-old CEO has robotics startup on pace for "8-figures" in revenue, up 250% YoY
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Lucid Bots $47K Sherpa drone, used by the Baltimore Orioles at Camden Park
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While attending Davidson College, Andrew Ashur watched window washers get whipped around on a building and thought, “There's got to be a safer and more efficient way to do this.”
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Revenue: Fast forward to today and Lucid Bots is on pace for its first 8-figure revenue year, growing 250% YoY.
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Products: They’ve got 2 robots right now, with more in development.
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What's next: "People think we’re just a cleaning drone company," Andrew told me. "But cleaning is only chapter one. We’re building a LEGO-like modular robot platform, already moving into painting and beyond."
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Funding: Raised a total of $18.5M in total from fancy VCs.
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Big opportunity: “Autonomy. Advancing from operator-assisted to fully autonomous robots will deepen our short customer payback period, accelerating adoption and recurring revenue growth."
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PRESENTED BY AROUND THE CROWN 10K
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Secure your spot for Around the Crown 10K Together with Truist, opening I-277 to thousands
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No. 21 largest 10K in the US, expecting 8,500 registrants in 2025
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Around the Crown 10K, North Carolina's largest running race, takes place Sunday, August 31. Secure your spot or sign up to volunteer!
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Half the course runs through the streets of Uptown, while the other half sets out on I-277’s inner loop.
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It's year 7 for this popular race. Largest field ever this year. Big win for our city!
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Participate: Race registration costs $66. Use code "TinyMoney" for $10 off (valid for 24 hours). Let’s gooo!
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GROWTH MODE
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29-year-old author sells over 100,000 copies of self-published novel, earnings top $500K
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Full-time author Alissa DeRogatis
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"I was going through a breakup," Alissa told me. "I wanted to write a book about the messy truth of what actually happens."
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Debut novel: Alissa self-published Call It What You Want on Amazon. It immediately took off, selling 1,000 copies in the first week and hitting No. 1 in New Adult Fiction.
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Market size: Romance novels generate over $1.44B in annual sales.
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Just a few months ago, Katie Mitchell invested $55K to open Trope Bookshop in Plaza Midwood. The romance bookshop had 1,071 visitors who purchased 3,689 items on opening weekend 🤯.
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What's next: Alissa will release her second novel How to Find Love in the Cereal Aisle next summer.
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MONEY TALKS
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42-year-old marketer doubles pay by going "client side" — now making $260K
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Midwood Smokehouse spread, this dad's No. 1 restaurant
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Money Talks is a weekly series showcasing how real people in Charlotte approach money. Participate.
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Salary: “I'm a marketing exec at a healthcare company. I make $200K in salary, plus a 15-20% bonus, and $30K/year in future stock options.”
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Children: “2 kids in middle school. We spend about $450 per month on extracurriculars like music class and sports, plus another $4,000 each on summer camps.”
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Debt: “Between a debt consolidation loan, mortgage payment, car payments, and student loans — it totals $4,100/mo.”
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Giving: “We budget to give away about 8-10% of our income. Giving to charities, GoFundMes, or neighbors when they're going through a tough time.”
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Splurge: “We spend about $10-15K per year on vacations. Not bougie. Stuff like theme parks, beach trips, and cruises. While the girls are still at home, we're investing in this.”
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Worst money decision: “Not contributing to our 401(k) for the first 7 years of work. If I had contributed just 5% my whole career, I'd be close to $1M. I could cry!”
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Rich in Charlotte: “I feel like we're wealthy in most real-world circumstances, but a drive around SouthPark would make you think you need a $10M.”
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Full story: Marketer making $260K shares investment breakdown and $50K side hustle
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MONEY SNACKS
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5 other financial headlines I’m snacking on
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Bird Pizzeria $10 Kale Caesar Salad has gone viral. National influencers are trying to recreate the hit salad.
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Phillips Place for sale in SouthPark. 95% occupied. $6.4 million in net operating income. Hearing it'll go for about $150M.
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Surefire Market opens in Camp North End. Order their smash burger or "Honey Butta" chicken sandy. 100 free burgers on Saturday.
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Window cleaning business for sale, asking $575K. Revenue $678K. Cash flow $143K. Owner only puts in "10 hours per week."
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Sycamore Brewing selling IPA Day gift bundle for $50. Includes 24 beers and a limited-edition IPA Day T-shirt.
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HOUSEKEEPING
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Cheers to Brendan and Chris for opening McHale's Pub in NoDa tomorrow!
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Owners Brendan Kuhlkin (57) and Kyle Kennedy (31), awkwardly posing for me
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Opening: McHale’s Pub opens tomorrow in NoDa next to Haberdish. "We're all about providing a cozy, welcoming pub feeling," Kyle told me. "NoDa's living room!"
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Brendan and Kyle invested $450K in the space. It’s perfect. I love the two "snugs," which are semi-private booths made popular in Ireland.
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Guinness will be flowing and Irish dishes like their spice bags and fish and chips will be best sellers.
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Pub economics: Target profit margins are 15-20%. "We want to be busy 7 days a week." And they’re hoping that busy weekends can generate $30-40K in top-line sales.
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Programming note: No newsletter next week! I’m traveling to Vermont for a family reunion trip at a resort named Basin Harbor. Expecting very fresh maple syrup.
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– Ted
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MONEY POLL
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Do you work with a financial advisor?
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Last week’s poll results: Do you plan on using a business coach or career coach over the next 12 months? (10,079 subscribers)
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