Raphael Stevens

When Kristen Heaton launched her own business in 2013, she never dreamed she’d sell it for seven figures. So, when she sold it to Amazon aggregator Perch in July 2021, she hired a financial advisor to make sure her family could get the most out of the new wealth.
“They sat us down, and they just really wanted to know where we were interested in putting the money,” Heaton said. “It was really important for us to make sure that we took our kids into consideration and set things up for them years down the road in a trust.”

Crave Naturals has sold more than a million of its signature product, a detangling hairbrush, with a total revenue of nearly $15 million. The brush has nearly 60,000 reviews on Amazon.com.
But it was a new experience — even an overwhelming one — to sell the business, as was walking into wealth that she had never had before.
“The first thing I would do if you ever do come into money that you’re not accustomed to is talk to people that come from money, talk to people that have had new wealth in their life, different entrepreneurs. See where they focus their time and efforts growing their money and keeping it safe,” Heaton said.
Based on what she learned from others, Heaton decided a professional financial advisor was a safer bet than just going it alone.
“I tend to be a risk taker, and it wouldn’t be unheard of for me to invest in some risky stocks. So working with a financial advisor, he will work with me to buy those risky stocks, but then also offset it with safe stocks and stocks that provide dividends over time and whatnot, so that we can aim to grow the portfolio in a more moderate-risk approach,” he said.

Then, Heaton recommends that you take some of the money to reinvest in areas you’re passionate about.
“My husband and I have always had an interest in real estate investing. And right now, the market where we live, it’s just continuing to go up. So it just made sense to us to purchase properties that we can give down to our kids one day,” Heaton said.
“One of my biggest concerns right now is that the next generation, they’re probably not going to be able to afford a lot of housing. So it was just really important that we bought some properties that we knew we could pass on to them later on in life so that they were going to be OK.”
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When Heaton sold her brand, she knew she wasn’t ready to stop being an entrepreneur. That also helped to inform her next decision about what to do with some of the new wealth.
“It spurred a creative side of me that I didn’t really know existed, so when we sold the brand, I knew for sure I just wanted to start up another one immediately. So we had the money at this point to be able to hire like a branding agency brand voice and just have a cohesive brand to launch. Whereas with Crave Naturals, it took us years to be able to afford that sort of thing.
“So in the summer, after we sold, we started working night and day trying to build this new brand. And now we have the new brand that we’re launching, it’s called Bare August; it’s a foot-care line, and it’s available on Amazon. And for me, I think that I’m just going to continue to do what I love as long as I can,” Heaton said.
The entrepreneur says it’s important to remember that success doesn’t happen without help from others, and it’s important to use some money to pay that forward.
“When I started Crave Naturals, I was super in debt. I had a lot of student loans. I was living paycheck to paycheck. And one of my good friends, her husband that was helping me with this program to sell products online, he actually paid for our first round of inventory,” Heaton said. 
“I think it’s important that as I continue to do what I love, I help others do the same. So if there’s an entrepreneur that needs help along the way, or they need somebody to invest in them financially or through mentorship, that’s something that I have an interest in doing along the way. I feel like it could pay off for both myself and the entrepreneur.”
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Countries are beginning to offer a fourth dose of the Covid-19 vaccine to vulnerable groups, but medical professionals are undecided on whether it would benefit the wider population.
Questions are being raised over the need for more booster shots as the emergence of more Covid variants may require more targeted vaccines.
The World Health Organization hasn’t given an official recommendation on a fourth dose, and “there isn’t any good evidence at this point of time,” said WHO chief scientist Soumya Swaminathan.

There hasn’t been enough research on how much protection a fourth dose can offer, medical professionals told CNBC.
Justin Sullivan | Getty Images

Countries are beginning to offer a fourth dose of the Covid-19 vaccine to vulnerable groups, but medical professionals are undecided on whether it would benefit the wider population.
The U.S. Food and Drug Administration has so far authorized a fourth shot only for those aged 50 and above, as well as those who are immunocompromised. And the U.S. Centers for Disease Control and Prevention was skeptical of the need for a fourth dose for healthy adults in the absence of a clearer public health strategy.

Those decisions came as a study from Israel found that although a fourth dose of the Pfizer-BioNTech vaccine offers protection against serious illness for at least six weeks after the shot, it provides only short-lived protection against infection, which wanes after just four weeks.

No ‘good evidence’ yet

The medical consensus so far is that there hasn’t been enough research on how much protection a fourth dose can offer.
The World Health Organization hasn’t given an official recommendation on a fourth dose, and “there isn’t any good evidence at this point of time” that it will be beneficial, said WHO chief scientist Soumya Swaminathan.
“What we know from immunology is that if you give another booster, you will see a temporary increase in the neutralizing antibodies. But what we’ve also seen is that these neutralizing antibodies will wane quite rapidly,” Swaminathan told CNBC in an interview.

A fourth dose doesn’t really do much of anything … I’m not sure we need to get out and just jump up and down screaming that everybody needs to get aboard.

Paul Goepfert
professor at the University of Alabama

“This happened after the third dose. And it’s happened again after the fourth dose,” she added.

Paul Goepfert, professor of medicine at the University of Alabama, shared that view, saying that “a fourth dose doesn’t really do much of anything … I’m not sure we need to get out and just jump up and down screaming that everybody needs to get aboard.”
Since the study from Israel shows the fourth dose can provide protection against serious disease, countries such as Israel, Denmark and Singapore have made a second booster shot available to high-risk groups.

“Rather than saying that the protection wanes, I would say that this boost effect is strongest shortly after the vaccine was administered, but that it remains protective overall,” said Ashley St. John, an associate professor at Duke-NUS Medical School.
“Importantly there was no waning of protection against severe disease, which is the most key effect of vaccination we aim to achieve,” she added.

Annual booster shots?

Questions are being raised over the need for more booster shots as the emergence of more Covid variants may require more targeted vaccines.
Anthony Fauci, White House chief medical advisor, told NBC News in January that people may need to get booster shots every year or two.
However, blanket vaccine approaches may not continue to work.
It is possible that high-risk groups — such as the elderly — may need an annual vaccine, said Swaminathan. But “it’s not clear whether a healthy adult is going to need a regular annual shot.”
It’s also important to note that the current vaccines being administered may not work for future variants of Covid-19, she said.
If the virus “changes so much that you need to change your vaccine composition, then you won’t need another shot,” Swaminathan added. “The challenge of changing the vaccine composition is that you’re always playing catch-up.”
Goepfert said “only time will tell” how long more the population has to take booster shots, but the safest approach would be to “plan on a booster every year, and maybe combine it with the flu vaccine.”

Omicron subvariant

The WHO announced on Tuesday that weekly new Covid deaths had fallen to the lowest level since March 2020.
But the more contagious omicron BA.2 subvariant remains the dominant strain in the United States, making up 68.1% of all cases in the country during the week that ended on April 23, according to data from the CDC.
Although experts predict that the BA.2 subvariant is unlikely to be more severe than the original omicron strain, it should remain a concern.

“I do think infections are going to continue … it’s taken over most parts of the country, said Goepfert. “But in terms of severe infections, I think that’s going to continue to be less and less.”
Patients from locations with adequate vaccination coverage would experience only “mild or manageable disease” and this would reduce “burden on the healthcare system compared to waves of Covid pre-vaccines,” St. John said.
“Just like studying for an exam, a vaccine booster can trigger immune system memories and increase performance during the real test,” she added.

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Exhibitors are no longer going to rely solely on studios to drive consumers to theaters.
A lack of product during the pandemic, and a slow start to 2022, has led movie theater owners to be more aggressive with their marketing strategies.
They have become more innovative with food and beverage offerings and more flexible in the type of content they place on the big screen.
For big chains like AMC, Regal and Cinemark, the emphasis has been on adding live event streams, like concerts, sports and even Dungeons & Dragons campaigns.
Smaller chains are still investing in the theatrical experience, but they are more heavily using digital and social advertising to target their local communities.

A Regal Cinemas movie theater stands at night on 42nd Street in New York, U.S., on Tuesday, Oct. 6, 2020.
Amir Hamja | Bloomberg | Getty Images

“If you build it, they will come.”
Universal’s president of domestic theatrical distribution borrowed the iconic line from “Field of Dreams” during the studios slate presentation at CinemaCon on Wednesday to describe how moviegoers are flocking back to theaters now that there is a steady stream of content available.

Domestic ticket sales for the first four months of the year may be down around 44% compared with 2019 pre-pandemic levels, but cinemas are seeing significant gains over last year.
Blockbuster titles like Warner Bros.′ “The Batman,” Paramount’s “Sonic 2″ and the Marvel-Sony’s “Spider-Man: No Way Home” have led to a 338% increase in ticket sales from 2021, reaching $1.95 billion, according to data from Comscore.
Operators are glad for the new titles and were reassured by studios throughout CinemaCon last week that they will continue to receive a large number of theatrical exclusives going forward.
For the most part, the day-and-date experiment of the pandemic has ended and studios used their time at the annual convention hosted at Caesar’s Palace in Las Vegas to tout their biggest and boldest tentpoles as well as showcase a diversity of content.
Exhibitors, however, are not going to rely solely on studios to drive consumers to theaters. A lack of product during the pandemic, and a slow start to 2022, has led movie theater owners to be more aggressive with their marketing strategies, more innovative with food and beverage offerings and more flexible in the type of content they place on the big screen.

A bold reminder for moviegoers

For big chains like AMC, Regal and Cinemark, the emphasis has been on adding live event streams, like concerts, sports and even Dungeons & Dragons campaigns, and upgrading its theaters with state-of-the-art projectors and sound systems.
Last month, AMC announced it was investing $250 million to bring Cinionic’s laser projectors to 3,500 of its U.S. auditoriums by 2026. Laser is largely considered a step-up from digital projection, offering brighter pictures, and therefore, a crisper image. The bulbs also do not need to be replaced multiple times a year, meaning upkeep is much easier for theater operators.
Cinemas big and small have long partnered with IMAX and Dolby to bring large-format options to consumers, but updating the digital projectors ensures that even those unwilling to pay an upcharge for premium options will still have a quality experience at the cinemas. The hope is that this experience will inspire moviegoers to continue to leave their couches and return to theaters for future film releases.

AMC went so far as to launch its first-ever advertising campaign last September featuring Nicole Kidman with the tagline “we make movies better.” The company invested around $25 million in the campaign.
“We wanted to make a bold, straightforward statement to remind moviegoers of that immersive, communal, multi-sensory experience that you can only get by seeing a movie in a theater,” said Alicia Cook, director of advertising at AMC Theatres, during a CinemaCon panel hosted by CNBC on Tuesday.
Traditionally, movie theater owners have relied on studios to promote films and drive moviegoers to their local cinemas. At the time of the ad’s launch, AMC CEO Adam Aron said the company will no longer depend on “what’s always worked before,” noting that the pandemic has pushed the industry into “uncharted waters.”

‘We do crazy stuff’

Smaller chains with less access to large sums of capital are still investing in the theatrical experience by upgrading seats, projectors and sound equipment, but they are more heavily using digital and social advertising to target their local communities.
“We are more nimble than the larger organizations,” said Rich Daughtridge, president and CEO of Warehouse Cinemas, during Tuesday’s panel. “I think our superpower is eventizing but also creating those experiences around going to the movies. So, we do crazy stuff.”
Daughtridge said promotions range from offering margaritas with movie tickets to special “daddy-daughter” date night showings. Mid-pandemic, Warehouse Cinemas capitalized on the release of Solstice Studio’s “Unhinged” by hosting a car smash event during the film’s fifth week in theaters.
Customers who bought a ticket could take swings at an old car, leading to a 2% lift in ticket sales compared to projections of what the film would have done if Warehouse had not hosted the event, he said.
Events at Reading Cinemas in Australia and New Zealand are a little more tame, according to Ben Deighton, general manager of marketing for the cinema chain. A surprisingly popular event at one of his cinemas is a knitting club.
“We just started knitting sessions .. and knitting clubs come in and watch a movie and knit,” he said during Tuesday’s panel, noting that the idea came from a local patron.
Starting this month, Cinepolis has begun a program called Self-care Sundays, which offers guests gold undereye patches and a small popcorn with any ticket purchase.
“One of the things we noticed naturally over the years people were coming to our theaters and practicing their own self-care,” said Annelise Holyoak, senior national director of marketing and loyalty at Cinepolis, during Tuesday’s panel.
Each showing also has a 10-minute mindfulness meditation to relax consumers before they enjoy their film.
“I think as marketers we tend to say ‘this movie is playing,’ ‘this movie is playing,'” Daughtridge said “I think from an engagement perspective, let’s talk a little bit more about why going to the movies is a good thing to do … I think the messaging that we are trying to do to create that engagement is more about the why moviegoing makes sense versus just the what movie is playing.”

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While GM, Ford and Stellantis steer toward the electric vehicle age, the rivalry between the Detroit three automakers remains alive and well.
As Ford prepared to celebrate the launch of its electric F-150 Lightning pickup Tuesday, both GM and Stellantis sought to steal the limelight from their archrival.
The “Big Three” rivalry can be big business, fueling merchandising as well as making for long-lasting brand loyalty among car buyers.

Ford CEO Jim Farley speaks at the launch of the all-new electric Ford F-150 Lightning pickup truck at the Ford Rouge Electric Vehicle Center on April 26, 2022 in Dearborn, Michigan. The F-150 Lightning is positioned to be the first full-size all-electric pickup truck to go on sale in the mainstream U.S. market. 
Bill Pugliano | Getty Images

DETROIT — Even as the Detroit automakers change and adapt to compete with electric vehicle leader Tesla, some things in the Motor City stay the same.
General Motors, Ford Motor and Stellantis (formerly Fiat Chrysler) are all steering toward electric vehicles, seeking to catch Elon Musk’s car company in sales. Yet the long-standing rivalry between the three U.S. automakers remains alive and well. That’s especially true in the hotly contested full-size pickup truck market, which is a major profit driver for them.

Take, for example, the events of last week: As Ford prepared to celebrate the launch of its F-150 Lightning Tuesday at a plant in Dearborn, Michigan, both GM and Stellantis sought to steal the limelight from their archrival and its highly anticipated electric pickup.
A day before the event, amid a blitz of stories on the F-150 Lightning, GM seemingly out of nowhere confirmed the Chevrolet Corvette will be offered in both hybrid and all-electric models in future years. The announcement, which industry onlookers had been expecting for some time, was light on details, but it got GM in the Lightning’s news cycle.
Stellantis’ Ram Trucks brand was more transparent about its intentions, when the brand released a teaser video on social media of its upcoming electric pickup, saying, “Time to steal some thunder.”
Ford said it’s no surprise its competitors are trying to troll the F-150 Lightning, which is arriving on the market at least a year or so ahead of the Chevy and Ram electric pickups.
“The F-150 Lightning is one of those rare product launches that transcends the auto world and becomes a cultural moment, and it’s been called a tipping point for America’s transition to electric cars. Of course, others are going to try to get in that slipstream,” Ford chief communications officer Mark Truby said in a statement to CNBC.

A GM spokesman declined to comment on the timing of its announcement, but said “it’s only natural the world pays attention when we confirm Corvette is going electric,” while touting the company’s other upcoming EVs. A spokesman for Ram declined to comment.

‘It’s bloodthirsty, and it’s beautiful’

Last week’s announcements are just the latest examples in a long-held tradition of the companies trying to one-up each other or get in on a conversation. Automakers have hordes of public relations and marketing experts whose jobs include making sure their vehicles get talked about.
“This rivalry started, I think in 1931. Don’t act like it’s a new thing,” said Jason Vines, a former auto PR executive known for over-the-top debuts at auto shows. “It’s bloodthirsty, and it’s beautiful.”

Vines, who at various times worked for Ford, Chrysler and Nissan, said when he was part of the launch for the Dodge Challenger for Chrysler, Chevrolet crashed the event with a new Chevrolet Camaro on a flatbed truck.
In 2016, Chevy launched a national ad campaign targeting the durability of Ford’s aluminum truck bed, literally poking holes in it with tools and other things. And four years earlier, during a Super Bowl ad about the predicted Mayan apocalypse, Chevy drivers survived, while “Dave,” a Ford owner, didn’t make it.
Vines said executives at the automakers live to beat their Motor City competitors.
Such corporate rivalries aren’t unique to the automotive industry, but the passion some car owners have for the brands they drive arguably is unique. It’s also big business in merchandising as well as making for long-lasting brand loyalty among buyers.
GM seems to have specifically enjoyed taking shots at Ford’s best-selling F-Series pickups, including the F-150 and its larger siblings, which Ford has touted as a $42 billion franchise for the automaker.

The all-electric Chevrolet Silverado at the New York Auto Show, April 13, 2022.
Scott Mlyn | CNBC

That fierce rivalry also helps explain why auto brands will offer lucrative incentives to entice buyers to switch brands. It also drives innovation, according to Vines.
“The beauty is, that’s great for the American consumer. These folks, these men and women, are bloodthirsty on building the best product they can to steal away customers from each other,” Vines said. “That’s a beautiful part of our industry. We’re searching for the customer.”
In some cases, the rivalries date back decades and live on through generations.
Ford CEO Jim Farley, whose grandfather worked for the company, has always been passionate about the companies he’s worked for during his career. Notably, in a 2011 book, “Once Upon a Car” by New York Times reporter Bill Vlasic, Farley is quoted as saying he planned to enjoy beating “Chevrolet on the head with a bat.”
Farley, who later apologized for the comments and has publicly shown respect for his competitors, was head of the automaker’s marketing department at the time: “We’re going to beat on them, and it’s going to be fun,” he is quoted as saying in the book. “I hate them and their company and what they stand for. And I hate the way they’re succeeding.”

Mary Barra, CEO of General Motors, attends the annual Allen and Co. Sun Valley media conference in Sun Valley, Idaho, July 12, 2019.
Brendan McDermid | Reuters

While GM executives haven’t been as public about their opinions of Ford, the automaker’s top executives — CEO Mary Barra and President Mark Reuss — both had parents who worked for the automaker. And they have exclusively worked at the automaker during their careers.

Getting back to Tesla

Michelle Krebs, an executive analyst at Cox Automotive, said that the Detroit automakers need to focus less on each other if they want to succeed in EVs. Hyper focus on one another and underestimating newcomers is part of the reason they lost their stranglehold on the U.S. market, he said. It’s also how Tesla has been able to dominate the EV market.
“While there’s this intense focus, particularly with GM and Ford, you always know if one has planned a big announcement, the other is going to try to sabotage it with a different announcement,” she said. “But at the same time, you know, the rest of the world is carrying on and being competitive.”
The Detroit automakers have definitely taken notice of Tesla, which Farley himself trolled last week at the Lightning event, noting the pickup is capable of charging a Tesla. He also alluded to Ford’s truck being thousands of dollars less expensive than “competitors’ trucks, whenever they actually go on sale” — a dig at the long-delayed Tesla Cybertruck.
“We plan to challenge Tesla and all comers to become the top EV maker in the world,” Farley said, adding the company is determined to be the top-selling automaker for EV pickups and challenge Musk’s company in sales.
Of course, over at GM, Barra has a different point of view: “I am very comfortable, because when people get into [our vehicles], they are just wowed,” Barra told CNBC last year. “So we will be rolling them out and we’re going to just keep working until we have No. 1 market share in EVs.”

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