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The big idea | ||||
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Amazon’s new safety program aims to improve employee wellness |
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An Amazon warehouse doesn’t exactly seem like an ideal spot to meditate or bliss out, but the ecommerce giant is trying to make it happen. Amazon is rolling out WorkingWell, a program that it hopes will slash its incidence rate — an Occupational Safety and Health Administration (OSHA) metric to compare and evaluate safety — in half by 2025. The announcement follows a recent Amazon union drive, which saw the ecommerce giant prevail but also raised questions over the company’s campaigning tactics. WorkingWell is part of a $300m investment in employee safetyAbout 40% of Amazon injuries are musculoskeletal disorders (MSDs), which are sprains and strains caused by repetitive motions. Per CNBC, WorkingWell includes:
Amazon’s been piloting it since 2019, and it’s already in effect at 350 sites in North America and Europe. By the end of 2021, it will be rolled out to all US sites. Amazon’s been criticized over safety beforeSeveral not-so-AmaZen reports in the media have highlighted huge issues:
According to CNBC, big safety overhauls are possible: The OSHA says companies that implement solid safety management systems can see a 52% decrease in injury rates. For all involved, that would be a prime outcome. |
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SNIPPETS |
NEW! Introducing our new and improved Snippets. You can now get extra snippets on your favorite topics. Follow the button below to get started. |
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Retail Tech | ||||
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PayPal goes ‘post-purchase’ with Happy Returns acquisition |
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Last week, PayPal acquired logistics wunderkind Happy Returns for a “who knows, won’t tell” amount. The Santa Monica-based company provides logisticsl software and services to online retailers flooded with returns. For PayPal, the acquisition is a bet on: Say it with us, REVERSE LOGISTICSBased on Happy Returns’ own data, items purchased online are 3-4x more likely to be returned than those purchased in store. Data from the National Retail Federation supports that claim — customers returned nearly $1 out of every $5 spent online last year. All those returns create a costly logistical and tracking nightmare for retailers. Happy Returns helps online retailers manage returns with software and a network of 2.5k+ IRL Return Bars.’ Customers can return items by carrier or box-less to any Happy Returns drop-off. Participating retailers cut waste, costs, and operational headaches. It’s wholesome stuff… … but it’s really about the retail journey.PayPal interest in Happy Returns goes beyond helping customers return misfitting pants. The company has ambitions to control the entire retail customer journey on- and offline. Jamie, pull up the acquisition tracker:
And PayPal’s been courting Happy Returns for a while. Back in 2019, PayPal picked up most of the check during Happy Returns’ $11m financing round. Consider this the follow-through. |
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Food Tech | ||||
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Goldbelly raises $100m to bring Momofuku and Guy Fieri classics from across America |
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Ever wished you lived in Flavortown, USA? What if Flavortown was inside your kitchen all along? Food delivery apps saw record-breaking sales amid the pandemic, and Goldbelly was no exception. The Bay Area-based platform plans to announce a $100m financing round led by Spectrum Equity later this week, per the New York Times. Goldbelly differs from apps like Postmates and Uber Eats…… in that the delivery radius is the entire United States. Craving a duck pie from NYC’s Momofuku or Guy Fieri’s BBQ Trash Can Nachos? Have them shipped frozen straight to your door and whip them up in your kitchen. With travel and dining off the table due to the pandemic, Goldbelly saw huge growth:
Goldbelly plans to use its new funds to add staff, recruit new restaurants, and offer online cooking courses with celeb chefs. It’s not yet clear if that growth will continue…… or if diners will return to their local faves. If there’s a downside for the consumer, it’s that ordering cross-country can be pricey. For example: If you go to Ms. Chi in Culver City, California, you can get 8 chicken Jiaozis for $11, or ~$1.38 per dumpling (it’s ~$3.45 each on Goldbelly). If you live near, you’d likely choose dine-in or takeout. But when you’re talking absolute faves and Michelin stars from 1k miles away, a premium is likely worth it. And that’s what Goldbelly’s banking on. Pro tip: A dozen Guy Fieri Caliente Margs are $69. Nice. |
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Podcast |
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How an Astrology App Makes $10m+Have you checked your horoscope today? Millions of Americans have — and it’s generating companies like Sanctuary millions in profit. On episode 182 of My First Million, Shaan and Sam explain why these companies are so profitable and how you can capitalize on a similar trend. They also talk about…
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🎧 Listen here → |
TRENDS |
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6 tweets, 100k followers…Have you read through yesterday’s Trends report? If you haven’t, here’s what you’re missing:
To get access to the full report, try 7 days of Trends for just $1. |
Get Access → |
Meme of the day |
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Source: Reddit |
While this meme is hilarious… our own Zachary Crockett did research in 2019 that suggests drunk shopping could be a ~$45B industry! |
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