Business
Why the world’s superyachts are getting bigger and bigger
Business reporter
Business is booming in the luxury world of superyachts, with the super-rich wanting ever bigger floating palaces.
Paola Trifirò knows a thing or two about superyachts – she and her husband have owned more than a dozen over the years.
The Italian couple, who have made their fortune in law, and continue to run a global legal firm, like to sail around the world in the height of luxury.
Ms Trifirò describes their boats, which can be more than 50m (164ft) long, as being like floating five-star hotels. And she likes to get involved in the design process.
One criterion she insists upon is that the crew have ample kitchen space, so they can cook gourmet meals for up to 15 people.
Ms Trifirò explains her reasoning: “If you are used to eating well, not everywhere [in the world] are there restaurants good enough.”
She also says that the large size of the vessels is reassuring. “Whether it’s sailing alongside humpback whales, or receiving greetings by fishermen on the Fiji islands, my boats allow me to sail… with strength and safety.”
But what exactly is a superyacht? While there is no official global classification, industry website and magazine Boat International describes one as “a luxury, privately-owned yacht that measures 24 metres or more in length, and is professionally crewed”.
The magazine says that global sales boomed after Covid. With the super rich suddenly unable to go to luxury hotels, as they were all closed during the pandemic, many switched to superyachts instead.
As a result, 1,024 new superyachts were built or on order around the world in 2022, a 25% jump from 2021, and a then all-time high, according to Boat International’s figures. This then increased to 1,203 in 2023, another new record.
“After the pandemic people considered their super yachts as safe islands both for themselves and their relatives,” says Barbara Armerio who co-owns Italian family-run superyacht builder Amer.
She adds that billionaires cherished their personal space and independence even more. “They asked for bigger windows, more space outside, and to be able to touch the seawater more easily”.
While the overall number of superyachts being built or ordered is expected to fall slightly this year to 1,138, they are getting bigger on average, Boat International’s data also shows. So far this year, 61 boats of 76m or more in length are being made, up from 55 in 2024.
And in the 46m to 60m grouping, numbers have increased to 175 from 159. Meanwhile, sales of the smallest superyachts, between 24m and 27m are down to 286 from 321.
“It’s clear that some of those new clients the industry found in the Covid-19 years are trading up,” says Ms Armerio.
Boat International’s editor in chief Stewart Campbell says that whatever size superyacht people buy “designers and naval architects are getting very clever at packing ever more volume into hulls, giving owners lots more space on board”.
As a result, today’s superyacht’s increasingly have everything from helipads to cinemas, gyms, beauty salons, and saunas.
As you’d imagine, prices are extremely high. You can pay €36m ($41m; £30m) for a new smaller boat, up to €295m for a 105m-long vessel with all the optional extras.
Half of all superyachts continue to be built in Italy, with its yards currently working on a combined length of 22,195m, or approximately 22km (13 miles), of boats. Turkey is in second place, followed by the Netherlands, the UK, Taiwan, Germany, the US and China.
Back in 2023, Italian shipbuilders earned €8.3bn from making superyachts, a record high.
Ms Armerio says her shipyard “produces only a few high-grade” superyachts per year, “masterpieces with unique details”.
She adds that Italian yacht-makers like hers are supported by a solid network of local artisans. “In Italy we find everything we need.”
Ms Armerio points to being able to drive to Tuscany’s stone quarries from her company’s base on the coast of Liguria if she needs to order marble.
Regarding the billionaires and multimillionaires who buy superyachts, Boat International says that most are from the US. Yet it points to more coming from Turkey, Indonesia and Mexico as those countries’ economies grow.
Meanwhile, sales to Russian buyers have fallen to due to the sanctions against the country and its elites as a result of Russia’s invasion of Ukraine.
If the appeal of a superyacht wasn’t immediately obvious, Ms Trifirò says they enable her to see the world and fulfil her wanderlust. And she likes to be at the controls of the boat.
“My curiosity to explore new places pushes me to cruise the oceans while in the driver’s seat,” she says.
Ms Trifirò adds that her crew is paid double what they’d likely earn on land “as it is very important to keep them happy. Our captain has worked for us for 22 years.”
Business
AI video becomes more convincing, rattling creative industry
AI (Artificial Intelligence) letters and robot miniature in this illustration. The creative industry is concerned over the rapid developments in AI-generated videos. REUTERS/Dado Ruvic/Illustration/File Photo
NEW YORK, United States – Gone are the days of six-fingered hands or distorted faces — AI-generated video is becoming increasingly convincing, attracting Hollywood, artists, and advertisers, while shaking the foundations of the creative industry.
To measure the progress of AI video, you need only look at Will Smith eating spaghetti.
Since 2023, this unlikely sequence — entirely fabricated — has become a technological benchmark for the industry.
READ: How investments in reskilling, building trust can help Philippine firms navigate AI era
Two years ago, the actor appeared blurry, his eyes too far apart, his forehead exaggeratedly protruding, his movements jerky, and the spaghetti didn’t even reach his mouth.
The version published a few weeks ago by a user of Google’s Veo 3 platform showed no apparent flaws whatsoever.
“Every week, sometimes every day, a different one comes out that’s even more stunning than the next,” said Elizabeth Strickler, a professor at Georgia State University.
Between Luma Labs’ Dream Machine launched in June 2024, OpenAI’s Sora in December, Runway AI’s Gen-4 in March 2025, and Veo 3 in May, the sector has crossed several milestones in just a few months.
Runway has signed deals with Lionsgate studio and AMC Networks television group.
Lionsgate vice president Michael Burns told New York Magazine about the possibility of using artificial intelligence to generate animated, family-friendly versions from films like the “John Wick” or “Hunger Games” franchises, rather than creating entirely new projects.
“Some use it for storyboarding or previsualization” — steps that come before filming — “others for visual effects or inserts,” said Jamie Umpherson, Runway’s creative director.
Burns gave the example of a script for which Lionsgate has to decide whether to shoot a scene or not.
To help make that decision, they can now create a 10-second clip “with 10,000 soldiers in a snowstorm.”
That kind of pre-visualization would have cost millions before.
In October, the first AI feature film was released — “Where the Robots Grow” — an animated film without anything resembling live action footage.
For Alejandro Matamala Ortiz, Runway’s co-founder, an AI-generated feature film is not the end goal, but a way of demonstrating to a production team that “this is possible.”
‘Resistance everywhere’
Still, some see an opportunity.
In March, startup Staircase Studio made waves by announcing plans to produce seven to eight films per year using AI for less than $500,000 each, while ensuring it would rely on unionized professionals wherever possible.
“The market is there,” said Andrew White, co-founder of small production house Indie Studios.
People “don’t want to talk about how it’s made,” White pointed out. “That’s inside baseball. People want to enjoy the movie because of the movie.”
But White himself refuses to adopt the technology, considering that using AI would compromise his creative process.
Jamie Umpherson argues that AI allows creators to stick closer to their artistic vision than ever before, since it enables unlimited revisions, unlike the traditional system constrained by costs.
“I see resistance everywhere” to this movement, observed Georgia State’s Strickler.
This is particularly true among her students, who are concerned about AI’s massive energy and water consumption as well as the use of original works to train models, not to mention the social impact.
But refusing to accept the shift is “kind of like having a business without having the internet,” she said. “You can try for a little while.”
In 2023, the American actors’ union SAG-AFTRA secured concessions on the use of their image through AI.
Strickler sees AI diminishing Hollywood’s role as the arbiter of creation and taste, instead allowing more artists and creators to reach a significant audience.
Runway’s founders, who are as much trained artists as they are computer scientists, have gained an edge over their AI video rivals in film, television, and advertising.
But they’re already looking further ahead, considering expansion into augmented reality and virtual reality — for example creating a metaverse where films could be shot.
“The most exciting applications aren’t necessarily the ones that we have in mind,” said Umpherson. “The ultimate goal is to see what artists do with technology.”
Business
Three ways you can make AI generate business leads for you
For quite a while now, people within the business community have been talking about how AI continues to improve task efficiency and streamline operations, but few are truly exploring how this new era is affecting new business lead generation.
Since opening Agent99’s doors 18 years ago, part of my new business strategy has simply been to ask people how they found us. The majority of our leads come through referrals, followed by Google. However, just last week, I was on two new business calls and when I asked both prospects how they came across Agent99, they gave the same surprising response: “by asking ChatGPT”.
Where consumers and clients once relied on Google for recommendations, be it agencies, restaurants, dry cleaners, or anything in between, that’s no longer the default.
Today, people are entering these same queries into AI tools and expecting real-time, curated answers based on a mix of web data, reviews, and sentiment. And this shift has caught many business owners off guard. A high Google ranking no longer guarantees your business will be visible or recommended through AI platforms. All that work on your SEO strategy? It’s no longer the only game in town.
This was a light bulb moment for me as a business owner. If you’re not thinking about how you rank on AI platforms and prioritising this, you’re losing new business opportunities.
When I took a deeper look at why we were ranking so well on ChatGPT, and how this new kind of ‘search engine’ prioritises content, I realised (after some thorough research) that it’s because we’ve consistently focussed on our own PR (ie third party credible endorsement), winning awards, garnering reviews from our clients, and reporting on our marketing campaigns on our own website blog and social pages. This is what AI platforms prioritise when making recommendations.
So, if you’ve noticed a dip in leads lately or you simply want to boost your company’s visibility in the AI space, here are three strategies I strongly recommend.
Make your SEO plan AI-friendly
It’s no longer enough to optimise your company website for Google alone. Instead of short, Boolean-style search queries, people are now asking long-form, conversational questions. And in response, tools like ChatGPT are generating concise, curated answers drawn from a wide range of sources — with a clear preference for natural, human-sounding language.
It might seem ironic that AI prefers human content, but it’s the new reality.
To match this, we recommend rewriting key pages on your website, starting with your ‘About’, ‘Services’ and ‘Home’ pages, using language that mirrors how real people would ask for your services in everyday conversation.
For example, instead of writing: “We deliver integrated management solutions,” try: “We help Australian businesses develop management strategies that support sustainable growth”.
If relevant, start a blog that directly answers the kinds of questions people might be asking ChatGPT, and think carefully about how they’re asking them. Once you’ve mapped out your content strategy, commit to publishing consistently. AI platforms favour businesses that post regularly and demonstrate long-term authority in their field.
Prioritise earned media and content
AI tools place more weight on what others say about your business than what you say about yourself. So, while your website content is important, the next priority is securing earned media coverage. This includes article mentions in credible publications and thought leadership content in niche outlets relevant to your industry.
While the media landscape has evolved, organic coverage on high-authority platforms still carries serious influence. That includes local business media, trade publications, and long-form podcasts — especially those with strong digital footprints. A single mention in a well-respected outlet often holds more weight than a dozen paid ads in the eyes of AI.
You should also be submitting your business for awards, rankings, and “Best of” lists. Third-party recognition like “Top PR Agencies in Australia” or “Best Accountants in Melbourne” dramatically increases your chances of being recommended by AI tools for those search terms.
Lastly, make sure you’re actively collecting client testimonials and online reviews. Reach out to past and current clients and ask for a testimonial you can publish. Genuine, positive sentiment from others boosts your ranking and trust level within AI results.
Show up where conversations are happening
A lesser-known — but highly effective — way to improve your AI visibility is by showing up where your audience is already talking. Think Reddit, Quora, LinkedIn comments, Facebook groups, and even the comment sections of popular blogs or YouTube videos. AI tools are constantly crawling and learning from these conversations, and businesses that participate meaningfully often see a lift in visibility.
Start by choosing two or three platforms where your target audience is most active. If you’re B2B, this might be LinkedIn or industry forums. If you’re more consumer-facing, Reddit, TikTok, or Facebook might be the place. Jump in, answer questions, share your perspective, and most importantly, offer value.
When your brand is mentioned organically or involved in high-engagement threads, it sends strong signals to AI tools. Over time, this can help position your business as a credible authority in your space.
Also, respond to users who tag or mention your brand on social platforms. Engaging with user-generated content builds trust, encourages loyalty, and creates digital breadcrumbs that prove your relevance and responsiveness — two factors that AI prioritises more than ever.
AI isn’t just a trend; it’s a fundamental shift in how consumers discover and choose businesses.
Rather than fearing this new giant in the room, lean in. By understanding how AI platforms work and proactively shaping your digital footprint, you’ll improve your ability to attract quality leads, earn recommendations, and strengthen your brand presence in what’s becoming an increasingly competitive and complex market.
Business
Maternity brand Seraphine worn by Kate enters administration
The maternity fashion retailer Seraphine, whose clothes were worn by the Princess of Wales during her three pregnancies, has ceased trading and entered administration.
Consultancy firm Interpath confirmed to the BBC on Monday that it had been appointed as administrators by the company and that the “majority” of its 95 staff had been made redundant.
It said the brand had experienced “trading challenges” in recent times with sales being hit by “fragile consumer confidence”.
The fashion retailer was founded in 2002, but perhaps hit its peak when Catherine wore its maternity clothes on several occasions, leading to items quickly selling out.
Prior to the confirmation that administrators had been appointed, which was first reported by the Financial Times, Seraphine’s website was offering discounts on items as big as 60%. Its site now appears to be inaccessible to shoppers.
The main job of administration is to save the company, and administrators will try to rescue it by selling it, or parts of it. If that is not possible it will be closed down and all its saleable assets sold.
Will Wright, UK chief executive of Interpath, said economic challenges such as “rising costs and brittle consumer confidence” had proved “too challenging to overcome” for Seraphine.
Interpath said options are now being explored for the business and its assets, including the Seraphine brand.
The retailer’s flagship store was in Kensington High Street, London, but other well-known shops, such as John Lewis and Next, also stocked its goods.
The rise in popularity of Seraphine, driven in part by Royalty wearing its clothes, led to the company listing on the London Stock Exchange in 2021, before being taking back into private ownership in 2023.
Interpath said in April this year, the company “relaunched its brand identity, with a renewed focus on form, function and fit”.
“However, with pressure on cashflow continuing to mount, the directors of the business sought to undertake an accelerated review of their investment options, including exploring options for sale and refinance,” a statement said.
“Sadly, with no solvent options available, the directors then took the difficult decision to file for the appointment of administrators.”
Staff made redundant as a result of the company’s downfall are to be supported making claims to the redundancy payments service, Interpath added.
-
Funding & Business1 week ago
Kayak and Expedia race to build AI travel agents that turn social posts into itineraries
-
Jobs & Careers7 days ago
Mumbai-based Perplexity Alternative Has 60k+ Users Without Funding
-
Mergers & Acquisitions7 days ago
Donald Trump suggests US government review subsidies to Elon Musk’s companies
-
Funding & Business7 days ago
Rethinking Venture Capital’s Talent Pipeline
-
Jobs & Careers7 days ago
Why Agentic AI Isn’t Pure Hype (And What Skeptics Aren’t Seeing Yet)
-
Funding & Business4 days ago
Sakana AI’s TreeQuest: Deploy multi-model teams that outperform individual LLMs by 30%
-
Jobs & Careers7 days ago
Astrophel Aerospace Raises ₹6.84 Crore to Build Reusable Launch Vehicle
-
Jobs & Careers7 days ago
Telangana Launches TGDeX—India’s First State‑Led AI Public Infrastructure
-
Funding & Business1 week ago
From chatbots to collaborators: How AI agents are reshaping enterprise work
-
Funding & Business4 days ago
Dust hits $6M ARR helping enterprises build AI agents that actually do stuff instead of just talking