Business, Economy & Culture:

• A deep dive on Spindrift. Spindrift has found a way to thrive amongst the crowded seltzer landscape (they’ll do $350 million in revenue this year). Founder Bill Creelman created two other companies prior to Spindrift in the food and beverage space, Nantucket Harvest and Stirrings. He sold Stirrings to Diageo in 2009 and the proceeds from that sale enabled him to start Spindrift in 2010. (bloomberg)

• Mango is using AI-generated models in some of its ads. Is this the beginning of the end for the modeling industry as we know it? This move aims to streamline ad production and reduce costs. This shift not only showcases how AI is reshaping the fashion industry but also sparks a dialogue on the balance between technology and traditional modeling in brand representation. (bloomberg)

• The wellness industry has hit a staggering $6.3 trillion. This underscores a global shift towards health-conscious living. This surge reflects consumer priorities, as self-care and wellness become fundamental parts of daily life that people are very willing to spend money on. (bloomberg)

• E.L.F. Beauty announces Dollar General expansion. Starting this month, the beauty brand will be selling at a subset of Dollar General (DG) locations. DG has a strategy to reach the underserved (80% of its stores serve markets of 20,000 people or less), and E.L.F. has stated that this move helps them to democratize access to beauty. {glossy)

• More women are attending MBA programs. Business schools are seeing a rise in female MBA students, marking a shift toward gender balance in traditionally male-dominated spaces. Since 2020, enrollment of female students has increased 13%, outpacing the 3% growth rate for men and women combined. (bloomberg)

• Jellycat plush toys are kind of like the new Beanie Babies? These plush toys have captured Gen Z’s hearts, blending cuteness with a unique aesthetic that’s swept across social media. The plushies are more than toys; they’re collectibles, offering comfort and nostalgia for a social-media obsessed generation. (bloomberg)

• Big-box retailers have doubled down on premium beauty brands. The Targets & Walmarts of the world are offering enhanced in-store experiences, specialized displays, and brand-tailored sections. This strategy helps premium brands reach new, diverse audiences while maintaining a sense of exclusivity within a mass-market setting. (business of fashion) 

• Wayfair has increased promotions while not hurting margins (this is hard to do!). Through savvy planning, they’ve maintained appeal among bargain-hunters without compromising financial stability. This is wild: of the “revenue generated during promotions, around 70% comes from non-promoted items.” (wsj)

• Brands have post-election anxiety. With the election season creating unpredictable consumer sentiments, brands are bracing for potential shifts in their advertising plans. Savvy marketers are leveraging flexibility to navigate the political landscape, ensuring they stay relevant in real time. (modern retail)

• Home buyers in 2024 are wealthier and older. Per this survey, the median age of first-time buyers rose to 38 years old, a new record high. This trend raises questions about accessibility, as first-time homeownership increasingly aligns with financial stability. (cnn business)

• BYD is dominating the global EV market. The Chinese automaker BYD is cutting costs and pushing innovation to deliver affordable electric vehicles worldwide. They’re challenging industry giants and transforming the future of clean transportation. They’ll soon take over the #1 spot from Tesla. (bloomberg)

• Goldfish is trying to win over adult snackers. They’re introducing new flavors (Chilean Sea Bass?) and continuing to innovate, especially as GLP-1s have diminished many snackers’ appetites. This makeover taps into nostalgia with a twist, reimagining a childhood favorite for a more mature audience (fast company)

Startups/Entrepreneurship:

• Kay Koplovitz was the most powerful woman in television; now, she wants more women in business. She’s the founder of Springboard and she’s investing in women-led businesses. Her vision aims to empower a new wave of diverse entrepreneurs, pushing for an inclusive future in business. (nyt)

• This Moneywise podcast with Scott Galloway is a great one. On this podcast, Scott Galloway talks about his net worth, how he’s lost & earned money throughout his career (he personally spends $300-400k per month). (chartable)

• One of my favorite podcasts of all time is Pivot. I am obsessed with the banter between Scott and Kara Swisher. They cover everything from global news, founders, tech, politics, etc. (pivot)

Becoming a Better You

• This guide offers practical strategies for coping with anxiety. It has good insights on how to reframe anxious thoughts and build a support network; it’s all about taking small, achievable steps toward better mental well-being. (harvard business review)

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