Good morning! Best Buy CEO Corie Barry says Trump’s tariffs will raise electronics prices, Disney agrees 43.3 million dollars A solution to a gender discrimination lawsuit, and it starts with Arcade AI’s multi-billion dollar weird idea.
– Jewel tones. Much of the AI boom is dominated by men, of the $19 billion get up only in the last quarter due to the gender gap who has free time to deal with new technologies. So it’s a novelty to see a startup doing something unique in the AI space; that’s not just female-led, but unashamedly using a stereotypical category of women as a launch pad for new technology.
Created by Mariam Naficy Arcade AIwhich bills itself as “the first AI product creation platform ever.” Right now, that means you can use AI to make jewelry. Users can enter a description of a piece of jewelry they want — like “ladybug earrings” or “silver necklace with a mountain pendant” — and Arcade uses AI to design that piece, then sends it to a manufacturer that actually produces the product. The platform requires a complex mix of AI to determine the design, price and who would make the product. “This is not search and recovery AI,” says Naficy. “This is a 100% brand new product.”
JP Yim/Getty Images for Tonic.xyz
The startup he raised $17 million from investors including Ashton Kutcher’s Sound Ventures, Offline Ventures, Reid Hoffman and Karlie Kloss. Naficy’s vision is to start with jewelry and then build a much bigger business. “We have the opportunity to build the first AI market, a multi-billion dollar destination,” he says. Naficy sees several paths forward: celebrities and influencers using AI to create merchandise lines, earning a commission on sales of their designs; fashion editors and costume designers creating the products of their dreams; other jewelry companies seeking data about user behavior; and the major corporations that license Arcade’s technology. Also going all the way as an independent Arcade company.
Naficy is best known as the creator of Minted, a stationery and art printing platform. He says he’s focused on “add-ons” throughout his career (or aesthetic categories like jewelry and art, rather than staples) and has seen jewelry as a way to demonstrate the power an AI product creation platform can make. Tackling a 3D product first would make categories like art and cards easier later on. “Jewelry is a very big market. It is fragmented. It is possible to customize it,” he says. “And we thought it was much more viral. It would spread more quickly.”
Emma Hinchliffe
emma.hinchliffe@fortune.com
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ALSO IN TITLES
– Trump’s tariffs. Best Buy CEO Corie Barry said Donald Trump’s proposed tariffs on imports from Mexico and China will result in higher electronics prices for customers. The company cut its revenue and profit guidance after a shaky third quarter and lower demand. The Wall Street Journal
– Discrimination at Disney. Disney agreed to settle gender discrimination lawsuit for $43.3 million. About 9,000 female workers and 9,000 current workers joined the appeal originally filed in 2019 by LaRonda Rasmussen, who found that male workers who shared her job title earned more than her. Fast company
– For the record. She spoke with Eliza Cooney USA Today Of the sexual assault allegations against Robert F. Kennedy Jr. “I wish we were picking people with less skeletons in the closet,” said Cooney, who was the Kennedy family’s live-in nanny. Kennedy is Donald Trump’s choice for Secretary of the Department of Health and Human Services; many other Trumps administrative elections They have been accused of sexual misconduct.
– Domestic danger. In 2023, an average of 140 women and girls were killed per day by a partner or family member; a total of about 51,100 deaths, more than 48,800 in 2022. According to the UN agencies that reported this data, “the home is the most dangerous place for women and girls”. ABC
MOVERS AND ACCELERATORS
The name Nike Heinle treasure EVP and CHRO. He was previously the company’s chief talent officer.
Appointed Chief Financial Officer Lisa Coulson as CHRO and SVP. Previously, Coulson was the company’s VP of human resources.
Wolfspeed, a developer of silicon carbide technology, was appointed Melissa Garrett SVP and general counsel. Previously, he was general counsel and assistant secretary of Kangaroo Express.
called Capri Holdings Philippa Newman Chief Product Officer of Michael Kors. Most recently, he was the brand’s president of accessories and footwear.
GeoLinks, a provider of Internet and wireless network solutions, was appointed Lynda Willis Financial director. Most recently, he was CFO of Tuff Boy Sales.
Hearst Magazines named Sherri Chambers CMO Most recently, he was Chief Brand Officer at Carrot Fertility; previously, he was the global head of brand strategy for TikTok.
Ionic Digital, a cryptocurrency miner, was named Laura Schnaidt as legal director. He was most recently of counsel to Paul, Weiss, Rifkind, Wharton & Garrison.
ON MY RADAR
Texas OB-GYN exodus The New Yorker
MAGA women are realizing that their movement is sexist the cut
‘Did you go into debt?’: Cher on the humor and heartbreak of her extraordinary new memoir fashion
PART WORDS
“Because we’re fighting more than what we’re fighting in the ring. Because we are fighting for the recognition and respect we deserve.“
— Professional boxer Amanda Serrano women’s boxing
