From lyrical exercise to home workouts! Some serious star power in Jay-Z and his Marcy Venture Partners firm is getting behind LIT Method training, and the fitness company plans on using the newly found exposure and funding to encourage people to stay fit.
Justin and Taylor Norris, the co-founders and CEOs of LIT, discussed how they went about capturing the attention of the celebrity's venture capital firm.
"It was never about finding capital, we've always had access to capital and things like that, so for us, it was going out and saying 'Who is going to be the perfect partner for us? Who is going to be the people that can partner with us and take our brand to the next level?'" Justin Norris told Cheddar. "We were looking for a group of individuals that really were going to be hands on and help us grow the company in different verticals."
He added that former Major League Baseball player Adrian Gonzalez, currently playing in Mexico, is also an investor who also happens to be working out on the LIT machine in his run-up to playing in the Tokyo Olympics.
LIT, or low-impact training, uses programs designed to boost strength, cardio, and physical therapy without running, jumping, or weight lifting, and its lightweight machine uses resistance bands and 10 to 40 pounds of water resistance. For those seeking some guidance on their fitness journey, the Los Angeles-based company also offers "500 different low-impact exercises" and consumers can even train with experts virtually.
"We offer strength training, bar, pilates, rowing, the machine does it all. In addition to the machine, we also offer mat classes, so if you can't have the machine inside of your house, it's not for you, you can still access our classes anytime, anywhere and our instructors are certified low-impact experts so you're getting guidance, motivation, inspiration, and recovery all in one class," Justin added.
Addressing concerns about the workout machine's size in light of the potential for in-home clutter during the pandemic's various stay-at-home orders, Taylor Norris explained that the LIT Method machine can be easily stored and towed to the perfect workout setting.
"Accessibility is key for us. We don't require any electricity with our machine. You can roll it around anywhere. It can be stored in a nice closet, in your bathroom. We really wanted to make sure that you could travel with the machine," Taylor said.
For the future, the duo is also planning to expand the company with retail operations with the opening of LIT Labs, a take on traditional showroom floors, where instead of consumers viewing a product and leaving, they will be able to go through "a series of exercises and 'tests,'" and an instructor will then create a program for that person.
And, while other at-home fitness brands like Peloton have recently come under scrutiny for the potential risks their products might pose following the death of a child who became stuck underneath a treadmill, the LIT CEOs claimed that their product is unequivocally safe.
"The machine itself is very safe. We don't have to worry about mechanics trying to run at speed 12 and things like that. You really go at your own pace on a machine, which makes it safe and effective," he noted.
The New York Times and President Donald Trump are fighting again. The news outlet said Wednesday it won't be deterred by Trump's “false and inflammatory language” from writing about the 79-year-old president's health. The Times has done a handful of stories on that topic recently, including an opinion column that said Trump is “starting to give President Joe Biden vibes.” In a Truth Social post, Trump said it might be treasonous for outlets like the Times to do “FAKE” reports about his health and "we should do something about it.” The Republican president already has a pending lawsuit against the newspaper for its past reports on his finances.
OpenAI has appointed Slack CEO Denise Dresser as its first chief of revenue. Dresser will oversee global revenue strategy and help businesses integrate AI into daily operations. OpenAI CEO Sam Altman recently emphasized improving ChatGPT, which now has over 800 million weekly users. Despite its success, OpenAI faces competition from companies like Google and concerns about profitability. The company earns money from premium ChatGPT subscriptions but hasn't ventured into advertising. Altman had recently announced delays in developing new products like AI agents and a personal assistant.
President Donald Trump says he will allow Nvidia to sell its H200 computer chip used in the development of artificial intelligence to “approved customers” in China. Trump said Monday on his social media site that he had informed China’s leader Xi Jinping and “President Xi responded positively!” There had been concerns about allowing advanced computer chips into China as it could help them to compete against the U.S. in building out AI capabilities. But there has also been a desire to develop the AI ecosystem with American companies such as chipmaker Nvidia.
U.S. sports betting is booming as NFL and college football fuel massive activity. BetMGM CEO Adam Greenblatt breaks down trends, growth, and what’s next.
President Donald Trump says a deal struck by Netflix last week to buy Warner Bros. Discovery “could be a problem” because of the size of the combined market share. The Republican president says he will be involved in the decision about whether federal regulators should approve the deal. Trump commented Sunday when he was asked about the deal as he walked the red carpet at the Kennedy Center Honors. The $72 billion deal would bring together two of the biggest players in television and film and potentially reshape the entertainment industry.
Disney's changes to a program for disabled visitors are facing challenges in federal court and through a shareholder proposal. The Disability Access Service program, which allows disabled visitors to skip long lines, was overhauled last year. Disney now mostly limits the program to those with developmental disabilities like autism who have difficulty waiting in lines. The changes have sparked criticism from some disability advocates. A shareholder proposal submitted by disability advocates calls for an independent review of Disney's disability policies. Disney plans to block this proposal, claiming it's misleading. It's the latest struggle by Disney to accommodate disabled visitors while stopping past abuses by some theme park guests.
With a merger this big, creators, studios, and theaters all face uncertain futures. Here’s what experts are worried about and what good could come from it.
With disengagement rising and hybrid work shifting, 'Everybody Matters' author Bob Chapman explains why treating people well could define the future of work.
We sat down with Ali Furman, U.S. Consumer Markets Industry Leader at consulting firm PwC to ask what trends she garnered from the initial data this year.
