Selina Tobaccowala was working at SurveyMonkey when her mentor and good friend, CEO Dave Goldberg, passed away. His sudden death put her life in perspective. Tobaccowala herself was working endless hours and leaving little time for her health. Now, the entrepreneur has launched Gixo.
Tobaccowala joins Cheddar to explain her new app. The fitness platform effectively turns a user's smartphone into a mobile gym. Gixo offers 180 live fitness classes, and costs $24.99 a month for the unlimited option. Tobaccowala could see that U.S. consumers, and millennials in particular, are interested in interactive, experiential workouts. Tobaccowala and her co-founder, Al Lieb, wanted to create an option for that consumer that didn't cost as much as a traditional gym membership or a boutique fitness class.
Gixo classes are primarily conducted with audio, and users can sync their wearables to the app. Because the classes are live, coaches can give feedback to the user after the class.
Parallel Systems has been selected to receive $4.5 million from the Department of Energy for an advanced testing program of its autonomous, battery-electric rail vehicles. The startup, which has raised more than $53 million to date, was founded by former SpaceX engineers to reimagine the rail system by creating a more efficient, decarbonized freight network. Matt Soule, Co-founder & CEO of Parallel Systems, joined Cheddar's Opening Bell to discuss what the company hopes to achieve.
A bipartisan bill introduced by U.S. Senators Amy Klobuchar (D-MN) and Cynthia Lummis (R-WY) aims to tackle the spread of misinformation on social media platforms, as well as the addictive nature of the sites and negative mental health impacts they have on users. The 'Nudge Act' would require studies to find and compile potential interventions that platforms could use to encourage people to think before they share a post, or log off after spending too much time on an app. The FTC would create rules based on these findings, and hold the platforms accountable. But will it work? Jesse Lehrich, co-founder of Accountable Tech, joins Closing Bell to discuss the bill, whether real results and regulations could come from it, and more.
