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This Founder Built a $220 Million Fitness Business. His Playbook Comes Down to 4 Decisions

Tony Hartl has grown Undefeated Tribe, his master franchise for Crunch Fitness, to 4,000 employees and systemwide revenues of $220 million. Here's how.

Sep 9 • 6:00 AM EDT • Business • inc.com

The Quintessential Trump-era Politician

In 2020, I wrote an article about collaboration and collaborators. The title was History Will Judge the Complicit, and it started with the story of two famous East Germans, Markus Wolf and Wolfgang Leonhard, who both landed in East Berlin just after the end of the war. Although they came from very similar backgrounds, the former stuck with the regime, eventually becoming its spy boss; the latter, horrified by the brutal reality of Soviet-style communism, escaped. By way of juxtaposition, I also wrote about Lyndsey Graham and Mitt Romney. These two men also made very different decisions when confronted by Donald Trump’s assault on the ideals that they had both grown up believing: A glance at their biographies would not have led many to predict what happened next. On paper, Graham would have seemed, in 2016, like the man with deeper ties to the military, to the rule of law, and to an old-fashioned idea of American patriotism and American responsibility in the world. Romney, by contrast, with his shifts between the center and the right, with his multiple careers in business and politics, would have seemed less deeply attached to those same old-fashioned patriotic ideals. Most of us register soldiers as loyal patriots, and management consultants as self-interested. We assume people from small towns in South Carolina are more likely to resist political pressure than people who have lived in many places. Intuitively, we think that loyalty to a particular place implies loyalty to a set of values. But in this case the clichés were wrong. It was Graham who made excuses for Trump’s abuse of power. It was Graham—a JAG Corps lawyer—who downplayed the evidence that the president had attempted to manipulate foreign courts and blackmail a foreign leader into launching a phony investigation into a political rival. It was Graham who abandoned his own stated support for bipartisanship and instead pushed for a hyperpartisan Senate Judiciary Committee investigation into former Vice President Joe Biden’s son. It was Graham who played golf with Trump, who made excuses for him on television, who supported the president even as he slowly destroyed the American alliances—with Europeans, with the Kurds—that Graham had defended all his life. By contrast, it was Romney who, in February, became the only Republican senator to break ranks with his colleagues, voting to impeach the president. “Corrupting an election to keep oneself in office,” he said, is “perhaps the most abusive and destructive violation of one’s oath of office that I can imagine.” In the wake of Graham’s unexpected death on Saturday, I wrote about him again. He was, in many ways, the quintessential politician of Trump’s Washington, a man who shifted 180 degrees. Graham had been a fervent American patriot, proud reserve officer and military lawyer; he became one of the most important defenders of a president who believes soldiers are “suckers and losers” and shows no respect for law of any kind. As his politics changed, his language grew coarser and his behavior grew worse: He urged Israel to “level the place” in Gaza, and insulted the Danish prime minister in Munich, prompting a colleague, Senator Elissa Slotkin, to issue an apology. Here’s an excerpt from the article, which you can read in The Atlantic (gift link here) Like his close friend John McCain, Graham believed that America should stand at the center of a broad democratic alliance. The few times I met him were in that context, at the Munich Security Conference or at other European-American gatherings, which he once attended with great regularity. He also took seriously the practice of American democracy at home. In a 2014 conversation with The Atlantic, he described himself as a pragmatic politician who eschewed populist slogans. “I know Washington is broken, but what’s broken about it is everybody yelling and nobody trying to fix it,” he said. “I’m trying.” When Donald Trump first appeared in U.S. politics, Graham recognized him immediately for what he was: the spokesman for an alien ideology, one radically different from the idealistic patriotism that Graham had practiced and preached since childhood. Trump privately mocked the military that Graham loved as nothing but “suckers and losers.” He put falsehoods, cynicism, and personal greed at the center of his politics, while expressing disdain for transparency, accountability, and democracy itself. In 2015, Graham described Trump as a “race-baiting, xenophobic, religious bigot” who should “go to hell.” Also as a “nutjob.” When Trump won, Graham understood, as did so many others, that he would have to make some important choices. For a while, he went silent. In the spring of 2016, I saw him at one of those conferences in Europe. He seemed too depressed to speak. But then, like many other Republicans—and, more important, like many other people who have lived under political occupation or experienced radical regime change—he made the decision to abandon his previous ideals, to bury the patriotism that was once so important to him, and to become, instead, a loud, opportunistic collaborator. As I wrote in 2020, it’s very hard to look in to anyone’s heart and to understand their motivations from the outside. But it does seem that Graham had a deep need to be relevant, to be in the game, to be a player, at any cost. And that, rather than any particular achievement, is what he will be remembered for. Continuing to monitor conflicts of interest, ostentatious emoluments, outright corruption and policy changes that will facilitate outright corruption. (Read my original article, Kleptocracy Inc and check out the SNF Agora Institute chart) June 27 Trump diverted funds from more than 900 projects nationwide—including safety upgrades at national parks—to finance beautification projects around Washington, including $700,000 used to fix a White House walkway. June 28 After a years-long Department of Justice investigation into Abbott Laboratories over its management of a baby formula facility where potentially deadly bacteria turned up enough evidence to criminally charge the firm, top department officials instead opted for a financial penalty—illustrating the department’s move away from strict corporate enforcement under the Trump administration. June 29 Defense Secretary Pete Hegseth stacked the Defense Policy Board—which is charged with providing independent national security recommendations to the Office of the Secretary of Defense—with Trump allies, including tech billionaire Marc Andreessen, who has invested in defense contractors like OpenAI and SpaceX, after purging the panel last year. Trump purchased between $1 million and $5 million worth of stock in Axon—which makes about 90% of US tasers—two weeks before ICE solicited bids for a $220 million taser contract. The White House unveiled limited-edition US passports for America’s 250th birthday, featuring a portrait of Trump overlaid on the Declaration of Independence. June 30 Trump made around $1.2 billion from his various crypto companies last year, including more than $500 million from World Liberty Financial and $600 million from sales of his meme coin. Trump is considering issuing 250 pardons to commemorate America’s 250th birthday. These are expected to be largely doled out through the Office of the Pardon Attorney’s informal network of intermediaries. White-collar defense attorneys say they can typically win pardons for clients for $2 million. Last year, Trump administration officials awarded a no-bid contract worth up to $500 million to Clark Construction for the White House ballroom—negotiations in which the president was directly involved. July 1 The Amazon MGM Studios documentary about Melania Trump earned the First Lady more than $10 million. Trump made hundreds of individual stock purchases worth as much as $12.8 million the day before his announcement pausing “Liberation Day” tariffs for 90 days sent the S&P 500 soaring nearly 10%—one of the largest single-day gains ever. Mar-a-Lago and Trump National Doral saw record surges in revenue during Trump’s first year in office, earning $77.5 million and $121.9 million respectively, compared to average annual revenues of $25 million and $75 million during Trump’s first term. Entities across the Persian Gulf paid more than $300 million to Trump’s businesses last year, including $263 million from the sale of half his stake in World Liberty Financial to a firm backed by Sheikh Tahnoon bin Zayed Al Nahyan, a top UAE royal and brother of the country’s president. Kash Patel failed to properly disclose his stock purchase of a Department of Justice contractor, MicroStrategy, worth up to $250,000 last year, despite laws requiring disclosure within 45 days of the trade. July 2 Trump has been directing administration officials to steer more government contracts—so far worth more than $2.4 billion—to Jeff Bezos’s Blue Origin aerospace firm, after Amazon gave $1 million to Trump’s inaugural fund, donated to the White House ballroom project, and reached a $40 million deal to license a Melania Trump documentary. Alongside the billions he made from cryptocurrency last year, Trump earned millions of dollars from real estate licensing fees, including $21 million from organizations in the UAE and $9.2 million in Saudi Arabia, along with smaller sums from merchandise sales, including $4.7 million from Trump Watches and $35,920 from 45 Guitar, a guitar brand endorsed by the president. House Democrats accused consultants tied to the Trump administration of financial fraud, alleging they gave prospective donors to America250—the bipartisan committee created by Congress to celebrate the nation’s semiquincentennial—the banking and routing numbers for Freedom 250, the White House’s fund for events like the UFC cage fight. Democrats also allege that Freedom 250’s CEO traveled to the World Economic Forum in Davos to solicit donations from foreign government officials and business leaders. The Trump administration’s proposed rollback of gun regulations would lift the prohibition on mailing handguns to individuals, a significant win for GrabAGun—the direct-to-consumer firearm retailer on whose board Donald Trump Jr. sits and in which he holds a 1.1% ownership stake. GrabAGun currently must rely on a middleman to transfer firearms to customers. Trump’s financial disclosure revealed that he made more than 21,000 securities trades during his first year back in office, growing his investment account to at least $858 million across stakes in around 1,600 companies, compared to the 13 total trades Joe Biden made during his entire presidency. July 4 Nearly 1 million people who bought the president’s meme coin—Trump Coin—collectively lost $3.8 billion on the token, while he walked away with $636 million. July 6 Shares of Dell closed up 4.4% after Trump recommended people buy the firm’s computers during a speech announcing the launch of Trump investment accounts for children, boosting the more than $1 million worth of shares the president owns in the company. July 9 Federal Reserve Chair Kevin Warsh named crypto investor and Trump ally Marc Andreessen to a task force aimed at modernizing the Federal Reserve, including rethinking its approach to inflation—a key factor keeping interest rates elevated. Palm Beach International Airport has officially changed its name to Trump International Airport—a move that will require Florida to pay royalties to the president’s family for licensing his name. I was there a few months ago, during a trip to Barcelona. The sculptures were a revelation, I’d never seen so many together before. Each one has its own personality. Enjoy the good weather, if you are lucky enough to have it. History Will Judge the Complicit The Quintessential Politician Autocracy Inc Open Letters, from Anne Applebaum is a reader-supported publication. To receive new posts and support my work, consider becoming a free or paid subscriber. Subscribe

Jul 13 • 4:19 PM EDT • Politics • anneapplebaum.substack.com

WATCH: Kennedy questions Noem about using taxpayer money for ad campaign featuring her prominently

Sen. John Kennedy, R-La., asked Department of Homeland Security Secretary Kristi Noem in an oversight hearing Tuesday how she justifies the use of $220 million to run national TV ads that feature her prominently if she’s concerned with not wasting taxpayers' money.

Mar 3 • 2:22 PM EST • Politics • pbs.org

The Fierce Battle For Kids’ Eyeballs...Plus Two “Devils” Face Off

(Welcome to my weekly streaming ratings report, the single best guide to what’s popular in streaming TV and what isn’t. I’m the Entertainment Strategy Guy, a former streaming executive who now analyzes business strategy in the entertainment industry. If you were forwarded this email, please subscribe to get these insights each week.) During the week of this report, Spider-Man: Brand New Day hit theaters and went on to become one of the biggest films of all time. So, you know what that means! It’s time for a poll! Recently, Project Hail Mary came to Prime Video and became a top five film for them, but didn’t smash streaming records, a feat I cautiously thought it could accomplish. Can Spider-Man 4 do better? To set the stakes, some of the biggest films of all time do just okay on streaming. Wicked, Top Gun: Maverick, and Barbie come to mind... But unlike those films, Spider-Man: Brand New Day is a Sony film which means it’s headed to Netflix, the world’s largest streamer. Now, per friend of the newsletter and my go-to Netflix expert, Kasey Moore of What’s on Netflix, Sony films usually appear on Netflix 120 days after they premiere, which means Spidey 4 would land on Netflix on, checks notes, 28-November, one of the two biggest streaming weekends of the year! But Sony occasionally delays its biggest hits for a bit longer, to give them more time to make money on PVOD, so Spider-Man: Brand New Day might not swing onto Netflix until late December or even February 2027. Loading... Okay, on to this week’s issue. Since The Super Mario Galaxy Movie made its way to Peacock, I’m looking at the true workhorse of streaming viewership: kids films. And the surprising film that bested most Netflix animated movies. All that, plus Hulu has a new show that might be a hit (for them…?), two “Devils” square off on streaming, Zendaya tries to find some streaming magic, Netflix’s I Will Find You continues to do well, House of the Dragon tries to break into the season three top ten, some big NBC sports and summer programs, what friendly neighborhood Spider-Man character actually generates the most viewership on streaming, all the flops, bombs and misses, and a whole lot more. Let’s dive right in! (Reminder: The streaming ratings report focuses on the U.S. market and compiles data from Nielsen’s weekly top ten viewership ranks, Luminate’s Top Ten Data, JustWatch and Reelgood interest data, Samba TV household viewership, company datecdotes, Netflix hours viewed data, Google Trends, and IMDb to determine the most popular content. While most data points are current, Nielsen’s data covers the weeks of July 27th to August 2nd, 2026. You can find a link to my terminology here.) Subscribe Film - As The Super Mario Galaxy Movie Hits Peacock, How Have Kids Films Fared in 2026? Like Mario hopping on a Koopa, The Super Mario Galaxy Movie landed on Peacock on 30-July. (Yeah, I kinda forced that Mario reference.) How did it do? Great, just like the first film. It got 13.0 million hours on its opening, and that’s good enough to take second place among Peacock films on the Nielsen charts all time: As I mention all the time, Peacock just isn’t the world’s biggest streamer—in fact, nowhere close—so its films struggle to put up numbers like Netflix (or even Prime Video and Disney+). So this is a solid debut for that streamer. And as we saw last time, The Super Mario Bros. Movie had a HUGE second life on Netflix when it moved streamers. This chart doesn’t even show how long the first Mario lasted on Netflix: a whopping, KPop-esque 31 weeks. For NBCUniversal, though, the big win was the second Mario movie grossing $429 million in America and over $1 billion globally. But yeah, to add a very strong streaming performance only makes its success even greater. Illumination pretty clearly has another hit franchise on their hands. This is a good time, though, to check in on kids films so far in 2026. We’ve had a few big, big titles, a rare Netflix success, and some disappointments. Let’s start with the top animated films since November of 2025, over their first four weeks on the charts, along with a few of the “best all time” animated films: (As a reminder, if a film doesn’t make the Nielsen top ten lists, I don’t have data for it, so it gets a “zero” in terms of viewership. Now, it had some viewership, but I don’t know what it is, so it gets a zero.) I added a few titles to get an idea of what the best of the best looks like in terms of animation. And you can see, through four weeks, Zootopia 2 can now claim “one of the biggest streaming films of all time” titles. GOAT too did surprisingly well, besting Netflix’s biggest films (Swapped and In Your Dreams) through four weeks. When I’ve talked about how films can have varying performances on streaming compared to their box office, this is what I mean. Goat just managed to gross even $103 million at the box office—so it’s popular, but just barely—but did very well on streaming. Of course, what set Encanto and KPop Demon Hunters apart from the rest was their absolutely insane longevity. Here are the kids film charts through eight weeks to show that: And really KPop Demon Hunters just kept going, and no 2025 or 2026 kids films have had that sort of longevity. I can’t wait to see the sequel in theaters. Film - Two Devils and a Drama As I wrote last week, in the past, theatrical-first film flops weren’t eligible for “Miss of the Week” or “Miss of the Year” honors/dishonors, but since so many more films go to theaters first these days, I’ve made them eligible now! But it’s complicated. You see, this is a Streaming Ratings Report, emphasis on streaming, which makes analyzing this week’s two biggest streaming misses—The Drama on HBO Max (A24’s dramedy starring Zendaya and Robert Pattinson) and Prime Video’s The Devil Mouth (a killer shark movie starring young attractive people)—somewhat tricky. The Drama isn’t eligible for Luminate, but The Devil’s Mouth only had 1.5 million hours in its first week: The Devil’s Mouth notched 5.2 million hours according to Nielsen. Meanwhile, The Drama missed the charts entirely. Not great! But Prime Video is a much bigger streamer than HBO Max. That said, HBO Max titles are on Prime Video, but I think Prime Video prioritizes their original/exclusive titles, which helps boost their viewership. Complicating this further, The Drama made $48 million in the US—while A24 sells foreign distribution; the $57 million of overseas grosses helps A24 sell overseas rights for money in the future—off of a $28 million budget (which seems low for Zendaya and Pattinson, so they might have backend). The Devil’s Mouth, though, had zero dollars at the box office. The other stats for The Devil’s Mouth are bleak, and by “bleak”, I mean horrendous: a 4.7 on 15K reviews on IMDb (yikes) and a 46 on Metacritic (double yikes). The Drama, though buzzy online, only has a solid (but far from elite) 7.1 IMDb score on 121K reviews and a 59 on Metacritic (which is far, far lower than I’d have guessed). So which film is the “Miss of the Week”? I’m giving it to The Devil’s Mouth for one simple reason: it’s a horror film. And almost all horror films, even poorly reviewed horror films, should get a shot in theaters to at least try to recoup some of their budgets. The Drama made money at the box office and The Devil’s Mouth didn’t. It’s just like the situation last issue with Obsession and Masters of the Universe. Sure, Obsession didn’t pop on the streaming charts, but at least it already made it money at the box office. And as we’ve been seeing for years now and we’ll see all fall, theatrical films just do better on streaming. After all, the big “devil” winner this week was actually The Devil Wears Prada 2 with 14.8 million hours according to Nielsen. That’s right, The Devil Wears Prada 2—one of the box office success stories of May—came to streaming and parlayed its $220 million box office into 14.8 million Nielsen hours. Disney also put out a datecdote that it had 15.2 million “views” globally in five days, but again we don’t have a lot of great context for what that means. Here’s how it stacks up to other Hulu films, since I’m categorizing this mainly as a Hulu title (though it was also on Disney+): Share Quick Notes on Film We’re just getting started with this issue, but the rest is for paid subscribers of the Entertainment Strategy Guy, so if you’d like to find out… Whether Hulu has a new hit show on its hands... The top first and third seasons of all time and which shows are climbing those charts… What version of Spidey is the most popular... What sport and TV show are performing better on NBC than the NBA... All the flops, bombs and misses... ...please subscribe! We can only keep doing this great work with your support. Coming Soon! Next week, wow, things stay so busy. One of streaming’s biggest shows of all time, Ted Lasso, returns along with new YA-ish shows from Hulu (The Shards, from Ryan Murphy) and Prime Video (Sterling Point). The Challenge moves to Paramount+, plus My Life with the Walter Boys returns to Netflix and Futurama returns to Hulu. And Netflix has a new horror film, The Last House. Lots to talk about! All month, things stay busy. We’re talking Reacher on Prime Video! Outer Banks and Tires on Netflix! Lanterns on HBO Max! UFC 330 on Paramount+ and the MLB Field of Dreams game on Netflix. And a ton of smaller films come to streaming. Long term, the VMAs are back on 27-Sep! I feel like I haven’t heard much about this show in past years, but I’m seeing more news coverage and buzz for this show than in past years. I’m curious to see how it does.

Sep 4 • 3:16 PM EDT • Entertainment • entertainment.substack.com

Geron Corporation Reports Third Quarter 2026 Financial Results and Recent Business Highlights

Achieved $60.1 million in RYTELO® (imetelstat) net product revenue in Q3 2026, an increase of 5% compared to Q2 2026 Reiterated 2026 RYTELO net product revenue at the mid-to-high end of the $220 million to $240 million range; lowered 2026 total operating expenses range to $220 million to $230 million Initiated gated commercial launch to expand RYTELO access to eligible LR-MDS patients in targeted European markets, with availability expected in Germany by end of year Ended Q3 2026 with cash, cash

Nov 4 • 7:03 AM EST • Business • finance.yahoo.com

They want their teams to win. The Liberty and Nets owners are funding scientific breakthroughs on human health that only billionaire philanthropy can achieve

Clara Wu Tsai's $220 million investment in athlete research has already helped lead to a drug designed to preserve muscle strength as we get older.

Apr 29 • 12:56 PM EDT • Health • fortune.com

15 blockbuster movies cheaper than Kristi Noem's $220M DHS ads

Kristi Noem's $220 million DHS ads outspent blockbusters like "Barbie" and "Sinners," raising questions about the department's use of taxpayer dollars.

Mar 7 • 8:03 AM EST • Business • businessinsider.com

Republican senators say they need more detail on $1B White House security request

Republican senators left a meeting with the director of the U.S. Secret Service on Tuesday saying they need more details on a $1 billion security plan for the White House, including a proposed $220 million to secure President Donald Trump’s new East Wing ballroom.

May 13 • 12:36 PM EDT • Politics • pbs.org

Ohio health groups pursue $220M merger

The combined organization would generate $220 million-plus in revenue and employ approximately 1,500 people.

Sep 5 • 9:13 PM EDT • Health • local12.com

They ran a Fort Worth cattle business. It was a $220 million fraud operation, prosecutors say

Feb 13 • 2:19 PM EST • Business • wfaa.com

Healthier Capital Closes $220M Oversubscribed Fund 1 to Advance Transformative Health-Tech Innovation

Healthier Capital, a health-tech venture capital firm founded to deliver healthier outcomes, today announced the closing of its $220 million oversubscribed i...

Jan 22 • 9:00 AM EST • Health • businesswire.com