For NBA legend and entrepreneur Magic Johnson, partnering with hemp and CBD company, Uncle Bud's, was a no-brainer, particularly as a retired athlete whose body has gone through rigorous wear and tear from years of playing professional basketball.
"It's a natural solution to your pain and giving you some relief," Johnson told Cheddar.
When it comes to professional sports, particularly the NBA, the former Laker's executive said he supports the idea of allowing athletes to use products like those from Uncle Bud's to "take care of their pains and aches." The use of CBD and other cannabinoids in the NBA and beyond has long been debated. While Johnson acknowledges league officials need to assess and maintain the banned substances lists, he says there are misunderstandings about CBD itself.
"I think they need to try Uncle Bud's and then make their decision based on one of the products in their whole line because I was the same way until I tried it," he explained.
For Johnson, player safety and wellness is a top priority and when it comes to college sports, he said he supports the safe return of gameplay amid the coronavirus pandemic.
"As long as athletes can be safe," he noted. "The university has to put all the protocols in place to make sure that the student-athletes will remain safe. That's the key."
Player wellness isn't just limited to physical well-being, Johnson said. He is also in favor of collegiate athletes being financially compensated. The NCAA announced in April that it is taking steps to allow the students to land endorsement deals. Johnson says many deals will not be for massive sums, but the athletes need some cash on hand to get through college.
"I was at Michigan State," Johnson said. "I wanted to have some money so that I could go get a sandwich or order a pizza or just to take my girlfriend to a movie."
On the topic of money, Johnson's recent business moves aren't just to secure better investments for himself. He's also helping thousands of minority and women-owned businesses stay afloat during the pandemic by providing over $100 million in loans through another partnership with MBE Capital Partners.
"The Paycheck Protection Program was not designed to help those that are Black or Latino," he said. "We didn't have a relationship with the banks or the credit unions."
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A rare magnum of Dom Pérignon Vintage 1961 champagne that was specially produced for the 1981 wedding of Prince Charles and Lady Diana has failed to sell during an auction. Danish auction house Bruun Rasmussen handled the bidding Thursday. The auction's house website lists the bottle as not sold. It was expected to fetch up to around $93,000. It is one of 12 bottles made to celebrate the royal wedding. Little was revealed about the seller. The auction house says the bids did not receive the desired minimum price.
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.
