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Why these actors and ‘SmartLess' podcast hosts want to help you pay less for cell service

Why these actors and ‘SmartLess' podcast hosts want to help you pay less for cell service

CNNa day ago

The latest celebrity start-up trend is no longer tequila. It's telecom.
Actors Sean Hayes, Will Arnett and Jason Bateman — who host the popular 'SmartLess' podcast — are launching a wireless service as an alternative to pricier unlimited data plans from major carriers like Verizon, T-Mobile or AT&T.
The decision to start the company, called SmartLess Mobile, came from a simple realization: while industry giants generally push unlimited plans, most people don't actually use that much data. Even if they're glued to their phones.
'Most Americans spend almost 90% of their time under Wi-Fi. Their mobile device very seldom actually uses the actual wireless network,' said SmartLess CEO Paul McAleese, a telecom industry veteran who co-founded the company with the actors.
Research published last year by the consultancy group OpenSignal found that most mobile customers spend between 77% and 88% of their on-screen time connected to a Wi-Fi network.
SmartLess Mobile offers wireless plans starting at $15 per month for 5 gigabytes of high-speed data, going up to $30 monthly for 30 gigabytes. By contrast, starter unlimited plans from the major carriers range from around $35 to $65 per month.
McAleese said he and Arnett started discussing the idea after the actor bought a new phone for his teenage son and was sold an unlimited plan that cost around $70 monthly. (Arnett previously served as a spokesperson for Canadian telecom giant Shaw Communications; McAleese is the company's former president.)
'And (Arnett) goes, 'Geez, it's awfully expensive,'' McAleese said in an interview with CNN. 'And I said, 'Your boy spends almost his entire life under Wi-Fi. He's at home, he's at school … he's never going to be on the network. Why would you buy all that?''
SmartLess Mobile joins a growing slate of celebrity-backed wireless carriers, including Consumer Cellular, with longtime spokesperson Ted Danson, and Ryan Reynolds' Mint Mobile, which was acquired by T-Mobile in 2023. These providers, known as mobile virtual network operators (or MVNOs), lease access to a major telecom provider's spectrum — SmartLess plans will run on T-Mobile's 5G network — and can often charge lower prices because they don't have to manage the physical infrastructure.
The services have gained popularity as cell phone technology has advanced. Most phones now have digital SIM cards, making it easier for consumers to switch carriers without having to visit a retail store. And the proliferation of Wi-Fi infrastructure everywhere from subways to restaurants means many people have lesser data needs.
If their partner network goes down, MVNOs do risk being the ones customers blame for losing missing service. And limited data plans aren't necessarily for everyone — ride-share drivers and delivery couriers likely use a lot more data than people who work from home or from an office with a Wi-Fi network.
But the primary 'uphill battle for any MVNO is to stand out in the space,' said Jeffrey Moore, principal at wireless industry research firm Wave7, because the industry giants have much more name recognition. Major carriers also entice customers with deals on new phones, which they practically give away for free if consumers join their network.
Smaller carriers 'have to stand out either in terms of offerings or in terms of marketing,' Moore said. That's where celebrity endorsements come in.
SmartLess already has a significant built-in audience; the podcast ranks among the top 20 most popular shows on Apple Podcasts. And Arnett, Hayes and the SmartLess podcast have more than 2 million combined Instagram followers.
'Whether by luck or by design, they also have a brand name that has both 'smart' and 'less' in the name,' McAleese said, 'which, if you're going to be a challenger brand in this day and age, those are two pretty good head starts.'
The team plans to start discussing SmartLess Mobile on the podcast in the coming weeks, he said.
And the SmartLess hosts' involvement in the new carrier goes beyond typical celebrity endorsements, McAleese said. Hayes, Arnett and Bateman had already turned down the opportunity to lend their names to other types of products, and they've been involved in everything from financing to marketing the new company.
'They rely on the category for what is now one of their primary professional pursuits, which is the podcast, this is how people consume their product,' McAleese said. 'These guys are master storytellers, and they have the brand ethos of sort of an honest broker. I think it's just a perfect marriage.'

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‘We're on the cusp of more widespread adoption': Laura Shin on Trump, stablecoins, and the global rise of cryptocurrency
‘We're on the cusp of more widespread adoption': Laura Shin on Trump, stablecoins, and the global rise of cryptocurrency

Fast Company

time29 minutes ago

  • Fast Company

‘We're on the cusp of more widespread adoption': Laura Shin on Trump, stablecoins, and the global rise of cryptocurrency

With the first family actively engaged in memecoin ventures, speculation about the future of cryptocurrency has never been hotter. Laura Shin, crypto expert and host of the podcast Unchained, reveals the sector's emerging economic, political, and geopolitical implications. Shin also provides context for why stablecoins are growing so fast and how the current administration is shaping the conversation. This is an abridged transcript of an interview from Rapid Response, hosted by Robert Safian, former editor-in-chief of Fast Company. From the team behind the Masters of Scale podcast, Rapid Response features candid conversations with today's top business leaders navigating real-time challenges. Subscribe to Rapid Response wherever you get your podcasts to ensure you never miss an episode. You call yourself a no-hype crypto journalist, so can you give us a short, no-hype overview of where we are right now in crypto's evolution? Yeah, I would say we're probably on the cusp of more widespread adoption. The number-one biggest reason is simply that the Trump administration is really embracing crypto. That has not been true of previous administrations. In fact, the Biden administration was probably, I want to say, actively hostile. I don't know if people will love that term, but that's probably a pretty accurate description. For a long time, there were a lot of entrepreneurs who were cautious about doing things in the U.S. This administration is more, not only open-minded, but even in some regards almost a little bit too embracing of crypto, you could say. I think there's going to be probably a decent number of crypto IPOs this year, but then on top of it, stablecoins are probably the first major application that has really found what the industry likes to call product-market fit. We're seeing that stablecoins have a huge amount of uptake, especially in so many other jurisdictions where they don't trust their local currency. It could be Argentina or Venezuela or Turkey or Nigeria. There are just a lot of places where people don't actually have a great way to save their money, and they maybe don't also have really great ways to send money across borders. So, stablecoins are fulfilling that role and Congress is probably on the cusp of finally passing legislation here in the U.S. around stablecoins. For a layperson, someone not engaged in the crypto world, can you just explain what a stablecoin is relative to a memecoin, relative to whatever the portfolio might look like? Yeah, so a stablecoin is any blockchain-based asset that is pegged to the value of some other asset—99% of all stablecoins are pegged to the value of the U.S. dollar. The way that stablecoins really took off initially was that on a number of crypto exchanges, people wanted to be able to buy and trade using dollars. I wrote this book called The Cryptopians, and it covers 2013 until 2018. Even at that time, people would recite back to me the price of Bitcoin or the price of Ether in dollars. No matter whether they were European or Asian or just wherever they were in the world, they always knew the price in dollars. . . . Here's a really simple example: There's a serial entrepreneur in Afghanistan. Her name is Roya Mahboob, and she had this microblogging platform, and I think a lot of the people writing for it were women. They had a hard time paying them, because a lot of women in Afghanistan, they don't have bank accounts, or if they do, then their male relatives might actually take the money that they earned from them. So [the platform] set them up with Bitcoin wallets and then taught them how to use them. One of the women was in an abusive marriage and saved up the Bitcoin and then used that to eventually divorce her husband, so that gives you some kind of agency. I have some close Turkish friends, and I think it was in 2018, the value of the lira was just going down and down. So it's like people in those places I think grasp these kinds of things a lot more quickly, like the value of crypto. Having a form of money that isn't influenced by a central bank, that's stablecoins. Because the stablecoins are generally linked to the U.S. dollar, it's a way to sort of have dollars without having dollars, right? Exactly. I mean, you're getting the stability of that U.S. market, which there's some irony in that, because of course one of the philosophical ideas around crypto is that it's not linked to a government, that it's separate. Now we're going to get really deep into this. So you're correct that this is people wanting U.S. dollars, which is a form of currency linked to a specific government, but of course the people who want those dollars are people who don't otherwise have the privilege of easily accessing them. Bitcoin, of course, existed before stablecoins ever existed. There have been times when the Bitcoin price would go up, and then it would crash for a little while, and then it would go up again and then it would crash, and so that's kind of when you started to see stablecoins also take off. A lot of people view Bitcoin as a good long-term investment, but on any short-term timescale, you don't really know where the price is going to be, so if you need the money on a shorter-term timescale, then you would probably rather have something more stable, and so that's where the interest in stablecoins came about. There's a reason why 99% of the stablecoins are denominated or pegged to the value of the U.S. dollar, and it's of course because we're the global reserve currency, so there's a lot of safety there. Trump seems like he's done a full 180 on crypto. I mean, he said it was a scam during his first term and then supported it very strongly in his campaign. He's launched his own Trump coin three days before the inauguration. Do we know how much of Trump's crypto position is about political opportunity or financial opportunity, or some larger philosophy about markets? I don't think there's a larger philosophy. I think most people probably know what Trump's MO is. But let's just say he's president and he took a luxury jetliner from the Qataris, so whatever it is that you think that says about him, it applies to his activities in the crypto world. What I will say though, aside from his personal dealings, which by and large in my opinion, they're business dealings, things that would help his family or him. He launches this memecoin, which by the way, to make one of these things costs almost no money, so I just want to make that clear, and you're basically printing money out of thin air, right? But then on top of that, the people who got in very early, they just had some agreement where they had to hold their coins until whatever it was, 90 days or I forget what the number of days was. Now, fortuitously, when that deadline came, [Trump] announced that he was going to have a dinner, and in order to participate in the dinner, you had to be one of the top holders of this coin, so of course the price shot up right at that time when this unlock was happening for those insiders. Just note the timing there and put those two facts together and you can make your own conclusions, but, well, let me put it this way: Trump saw that the Biden administration alienated the crypto community. He realized these people have money and they hate the Democrats. . . . He said, 'I'm the crypto candidate,' and he even went to the Bitcoin conference last year. He made all these promises to the crypto community and Bitcoin communities. On top of that, people in his personal orbit, his family, realized this industry is going to get bigger, this industry's all about money, and so they have been taking advantage. So you will see, and this is very interesting, there were a number of people who were very passionately pro-Trump during the campaign, and then once the memecoin thing happened, because not only Trump, but also Melania launched a memecoin, and they were not happy about what he was doing. It was reported that their company, World Liberty Financial, was doing deals with different token teams where basically they were just exchanging money. 'I'll give you this amount of money if you buy the World Liberty Financial token, and we'll buy this amount of your token. I'll scratch your back and you scratch mine.' But people in the industry also kind of look down on that, because it's not organic.

Small American Business Owners Are Sharing How Tariffs Are Affecting Them
Small American Business Owners Are Sharing How Tariffs Are Affecting Them

Buzz Feed

time36 minutes ago

  • Buzz Feed

Small American Business Owners Are Sharing How Tariffs Are Affecting Them

When tariffs on Chinese goods spiked dramatically — peaking at over 100% in some cases before recent reductions — small business owners across America found themselves facing an impossible math problem. From toy designers to computer repair shops, countless entrepreneurs discovered that products they depend on — and that simply aren't made anywhere else — suddenly became prohibitively expensive. When u/toymakerinchina, a manufacturer of indoor playground equipment, asked how US small businesses were handling these dramatic tariff increases, the responses painted a sobering picture of an economy under strain: "Honestly, they're not able to cope. I know two people in separate small businesses in this situation who were running the numbers at 104% yesterday. They're already in a place with not-high margins. They also have to get their product out to distributors and on to end consumers, and there is a markup at each step. They're trying to increase direct-to-consumer sales to get a bit more efficient, but that's really hard. It's more likely they'll go bankrupt unless things get fixed fast. There aren't any American alternatives for the imported supply, and there won't be in the future. They're doomed to fail." "I have a computer repair shop. Literally everything computer-related is made in China, with few exceptions — Taiwan and Mexico, sometimes. New computers are about to get real expensive. This will either surge my business, in which case we'll just lower our margin on parts and maintain labor cost, or people are going to pay out the nose for new computers." "I've just had to place an order for $80,000 worth of equipment to be produced. Specialized gear only made in China. The budget was around $110,000 total. Now maybe $150,000. It will hurt if this level — or worse — is in place when it's ready to be shipped. It will take about three months to fabricate it all. I don't know if I have any way to mitigate this." "Our selling prices are going way up. Our sales volume will suffer because our poorest customers won't be able to afford our product. It's an item for people with disabilities. It's sad." "My sister designs plush toys and runs her own business. She's a small operation, but it's been her full-time gig for almost 10 years. On average, her orders are around 2,000 to 5,000 toys at a time. Her latest order was flat-out cancelled by the supplier. She's completely screwed. There simply isn't a viable alternative company that isn't based in China." "The previous steel and aluminum tariffs from the pandemic were rough. This is on another level. I don't think most people understand how screwed we are. Currently, my suppliers are trying to raise prices slowly. They're playing chicken with each other. They know they can't raise everything overnight, as they're also competing with other suppliers, and they still need to move product in order to maintain cash flow. I've been hoarding lots of inventory in preparation, but how long will it take to move that product if the economy is slow due to overall inflation? Our costs are just one aspect of being in business. If our customers are squeezed from every direction by tariffs on everything, then they don't have cash to purchase things from us. Then toss in some idiotic DOGE nonsense, where you eliminate millions of people from viable employment." "I'm about to close shop after doing it as my exclusive job for 10 years. It's screwed." "I have a $48,000 order that I placed two days ago just before the latest China tariff increase. Haven't paid the deposit yet, and now reassessing the move. Considering 1) reducing the order size just to not have such a large bill come due in two to three months and start seeking other suppliers in lower-tariffed countries or the US — although I would expect that even if we found a US manufacturer, the price would work out to be the same if not higher; 2) keep the order, but start adding a tariff fee to invoices now; 3) do nothing and hope the jerk in charge changes this move before the goods hit customs. We've already negotiated a lower price with our supplier, so not much else to be done there. We just raised our prices for the first time in three years to finally pass along some of the cost increases we've incurred in that time. It looked like we'd finally improve our margins over where they've been the last few years. And now this." "My family runs a restaurant. If our prices for takeout containers and other small disposables skyrocket, we're going to put some behind a price instead of giving them out for free. Currently, a large takeout foam container is 20 cents. If it hits 40 cents or more, we will tack on a 25-to-50-cent fee depending on just how high it actually goes. Please, everyone, understand that a small mom-and-pop style restaurant only runs 3% to 6% pure profit if that — right now, we are at about 4%." "My partner had a bunch of inventory on hand pre-tariff so he's just selling that and not ordering anything for now. And he raised prices because he can. He's pointing out that price increases are due to tariffs to educate his red-leaning customers on what they voted for." "Our wholesale will probably shut down after the last of our inventory is sold. It was a good run of 10 years but the Chinese tariffs will make continuing business impossible." "I am a small business owner — I create medieval and costume artistic wigs from wig bases made in China. I will pass the tariff on to the customer as I have no other choice. The US will never make what I need, and other countries making wigs don't come even close to the quality of wigs that China makes, not to mention the trust I have with my years-long suppliers and whatnot. I have no solution because I feel like even if we find loopholes, they can be 'plugged' overnight by the Trump administration. I wish I could include the sum of what my customer pays on tariffs in my pricing separately. That's not going to happen, I know. I will have way fewer customers, lose competitiveness on international markets, and will have to start a second business on the side. I see all this as very pessimistic and feel sorry for all of us affected in the US as well as China." "We're exhausted. We're exhausted from running the numbers, coming up with a barely workable solution, only to have the goal posts moved and that solution obliterated again and again and again. My entire industry is imploding. Yesterday, my company laid off the entire team except for the founder, who is still trying to pivot and find yet another workable solution in hopes he can bring us all back before we find other, more permanent placements." "I have a couple retail stores, and I've received calls from multiple wholesale companies saying many items will get 20% to 50% price increases. This was before China's retaliatory tariff increase. I just won't stock any items that have increased by 50%, other than extreme cases. Any items that I continue to stock will get price increases slower than how much they got increased by tariffs. It's so that customers won't notice the sudden sharp increase in price and leave my business with a sour taste. I will eventually increase it to match the same profit margin in the end, but I will do it slowly, even if it eats away my profit in the short term, to stay competitive. If this tariff war continues, I would assume many retail stores in my industry, maybe even I, won't be able to stay afloat and will go out of business. My hope is that I can outlast the competition while this tariff craze is going on. I just hope I don't have to let go of my employees." "The tariffs pose a huge threat to my business. I have an art business in the US, and I print my artwork on various art and stationery products. All of my stationery is manufactured in either Canada or China. I also print on various specialty papers that are only manufactured outside of the US. I have done some preparation by buying a year's worth of supplies to continue printing some of my own products, but I will have to discontinue many of my items for the foreseeable future. I am a small business and can't afford to buy products at such high markups. If these tariffs last long, I will be forced to close my business. I am already preparing by looking for a part-time job to supplement the loss of income this will be for me. Plus, my customer base is not wealthy people. Even if I had the savings to afford 104% tariffs, my customers would not." "Many of my materials are imported because US manufacturers charge almost 90% more for a similar sheet of material. So now my competitors and I will have to pay more for the product. Then we will mark it up the same percentage. $50 with a 100% markup meant I sold it for $100, and the company earned $50. Now it's $75 per sheet, and I mark it up to $150, and the company makes $75. We're more profitable. Sure, we may lose a few sales here or there because people can no longer afford to buy a sign for their business or housing development, but during COVID when scarcity drove prices up, we never ended up in a worse position, so I doubt we will here since people need our products, just as I'm sure people need your products." Are you a small business owner dealing with the impact of tariffs, or do you have thoughts on how these policies are affecting the economy? Whether you've witnessed these challenges firsthand, have ideas for solutions, or simply want to share your perspective on what this means for American businesses, drop your thoughts in the comments — or anonymous form — below. Note: Responses have been edited for length/clarity.

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