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👩‍💻 Women’s health is booming

The Hustle

Bitcoin went positive on the year, AMC stock shot up 45%, Elon got covid and might build a social media platform, the internet is embracing Will Smith’s slap as its newest meme… Let’s just say the week is off to an interesting start.

In today’s email:

  • Women’s health: The next gigantic sector in tech.
  • Chart: Why the Oscars needed a slap in the face.
  • Buyer’s remorse: ~75% of new homeowners have major regrets.
  • Around the web: Forest sounds, thought experiments, rare coins, and more neat internet finds.

🎧 On the go? Listen to today’s 10-minute podcast to hear about how the Oscars became so boring, NASA’s big budget increase, the few US cities where women are earning more than men, and more.

The big idea
female symbols

Femtech, the growing market for women’s health, explained

Women’s health has long been underfunded and understudied.

  • Between 1977 and 1993, women of childbearing age weren’t allowed to participate in certain clinical trials.
  • Outside of cancer, ~1% of health care research and innovation goes to women’s health conditions.

Enter femtech, a term coined by Ida Tin — founder of period tracking app Clue — in 2016 to refer to women’s health software and products.

It’s a sector on the rise, exceeding $1B in VC funding for the 1st time last year (up from $695m in 2020.)

What does femtech do?

Consulting firm McKinsey recently anayzed 763 femtech companies and found many serve maternal and sexual health needs:

  • Thinx makes underwear for menstruation. Kimberly-Clark acquired a majority stake in the company in February.
  • Progyny is a fertility benefits company valued at $4.5B+.
  • Maven, another unicorn, provides a comprehensive women’s and family health platform.
  • The Pill Club was a D2C birth control service that rebranded to Favor as it expanded its offerings.
  • Health in Her HUE connects Black women to health care providers.

Global Market Insights estimated the industry was worth $22.5B+ in 2020 and could grow to $65.3B by 2027.

What’s causing the boom?

Maven board member Deena Shakir told CNBC that big employers now realize maternal and family health is a “necessity to retain women in the workforce.” (We previously discussed the business of egg freezing, which Google, Apple, and Facebook now cover for employees.)

Femtech is also increasingly led by women, who spend more on health care than men. McKinsey found 70%+ of femtech companies have at least one woman founder.

But not everyone’s a fan…

… At least of the term. It’s been criticized as exclusionary to transgender and nonbinary people, and as painting women as some kind of “other” when they’re really, well, ~½ the population.

Meanwhile, defenders say the term is bringing overdue attention to women’s issues in a male-dominated health care system.

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SNIPPETS

Walmart is suing BJ’s Wholesale Club, claiming BJ’s infringed on its Scan & Go self-checkout patents. Walmart launched the tech in Sam’s Club in 2016. #ecommerce-retail

Green walls look great and can help a building become carbon neutral — but only if designed well. #clean-energy

Rain or shine: Camaliot is an app that uses data sent between Android devices and satellites to better predict the weather. #emerging-tech

An NFT of former South African president and anti-apartheid activist Nelson Mandela’s arrest warrant was auctioned for $130k. The proceeds will benefit South Africa’s Liliesleaf Museum. #fintech-crypto

Apple will cut production of its iPhoneSE and AirPods, anticipating lower demand due to inflation. #big-tech

Tesla is temporarily suspending production at its Shanghai factory as the city calls for all workplaces to pause or go remote amid covid concerns. #big-tech

Chart
Oscars viewership over time

Singdhi Sokpo

Why the Oscars needed drama this year

The slap heard around the world (recapped here) was also likely the only reason many people even realized the Oscars were happening Sunday night.

Heading into the evening, viewership was lower than ever – down 80%+ from its all-time peak in 1998. Pun absolutely intended, the show needed a slap in the face.

Why are the Oscars so boring anyway?

In large part, the boredom associated with today’s Oscars is the result of its focus on dramas when the genre accounts for just 5% of ticket sales, per Bloomberg.

Not to discredit Apple’s Best Picture win for Coda, a 1st in the streaming space, or great films like The Power of the Dog, — but throw Gal Gadot, Ryan Reynolds, and Dwayne ‘The Rock’ Johnson in Red Notice and that’s where the eyeballs go.

It’s also why Amazon is spending $465m for just one season of a Lord of the Rings show, and not on a Marvelous Mrs. Maisel cinematic universe.

The bottom line?

To put it bluntly, fewer and fewer people have reasons to watch a Hollywood ordeal about movies they’ve never seen, that goes 40 minutes over its 3-hour runtime (on a school night), when you can just check Twitter after to see what you missed.

As for us, we were intrigued by the nominee gift bags filled with $137k+ in redeemable vouchers for things like liposuction and Scottish land. That, and this series of TikToks making fun of the Oscars (here, here, and here).

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C’mon, people!
person standing in front of a house

“I immediately regret this decision.” (Scott Web / Unsplash)

Pandemic homebuyers have big regrets

Wishing you hadn’t splurged on that Peloton is one thing. Regretting purchasing your house, however, is about as bad as buyer’s remorse gets.

With interest rates at an all-time low, the pandemic sparked a home-buying frenzy, as people traded yardless urban rentals for space, stability, and a mortgage.

But now that the dust has settled, ~75% of recent buyers say they have regrets, according to The New York Times.

Calling the housing market “competitive”…

… would be a massive understatement. As buyers tried to find an edge, many made questionable decisions, including:

  • Waiving inspections: Moving fast might speed up closing, but if you knew the foundation was cracking you might’ve offered less (or walked away).
  • Buying sight unseen: It seems crazy to spend hundreds of thousands without seeing the home, right? Wrong, apparently — 63% of buyers in 2020 made offers without touring the place first, according to Redfin.
  • Underestimating maintenance: 32% of buyers regret buying a home that needs more work than they anticipated.

Future buyers have a lot to learn

The housing market is still bananas. The typical US home is worth $330k+, and values are expected to increase 16.4% by year-end. The number of homes on the market has also been declining and is still much lower than pre-pandemic levels.

Although rising interest rates are expected to cool the market, they may also encourage people to stay put, keeping inventory low and fueling even more questionable decisions that lead to buyer’s remorse.

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TRENDS

Employees want crypto, and everybody wants mochi

We see the vibes.

Alright, we’ll drop a taste. Hot market flares, courtesy of Trends:

  • Crypto payroll: 10% more employees are asking to be paid in crypto each month. Compound that sh*t. Marvel. There’s a reason why 4 top VC-funded crypto payroll projects garnered over $930m.
  • #Mochi: 3.8B views on TikTok is equivalent to a lasting impact on the world. My/Mochi, a mainstream pioneer in the West, launched in 2017 and made $175m in 2019.

You can break into the glutinous rice business, too. Here are a handful of mochi market snack combinations.

We kneaded a lot of sweet things. Get access to niche market signals and the unrivaled community of 17k professionals.

Access Trends →
AROUND THE WEB

📈  On this day: In 1999, amid the dot-com bubble, the Dow Jones Industrial Average closed above the 10k mark for the 1st time. It would exceed the 11k mark several weeks later.

🌲 That’s cool: Sounds of the Forest is an online library of soundscapes recorded in woodlands around the world.

🔥 That’s interesting: Here’s a fun thought experiment. If you were transported back in time to a pre-civilization era, how would you shape the future of humanity with the knowledge you carry?

🪙 Useful: Ever find a coin in your pocket with no idea what it is? This online catalog helps you identify, buy, sell, or find the value of coins from all over the world.

🤣 Haha: How to say all the things you’d like to say to your co-workers, but professionally.

Meme of the day
Monday meme

The slap heard ‘round the world. (Source: imgflip.com)

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Psst

How'd Bezos build a billion dollar empire?

In 1994, Jeff Bezos discovered a shocking stat: Internet usage grew 2,300% per year.

Data shows where markets are headed.

And that’s why we built Trends — to show you up-and-coming market opportunities about to explode. Interested?

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