You're viewing an email archive of The Hustle newsletter. Join free to receive the 5-minute newsletter keeping 2M+ innovators in the loop.

📈 Some MBAs are no match for inflation

View Online

The Hustle

Boxer Floyd “Money” Mayweather lived up to his nickname by upgrading his Rolls-Royce limo, which now sports mink rugs and a 45-inch TV. Total cost: $180k — enough to field a full baseball lineup of Kia Souls.

In today’s email:

  • Deposit slip: Breaking down Silicon Valley Bank’s collapse.
  • Business school: Do MBA salaries beat inflation?
  • Digits: Instant Pots, an expensive mile, and more.
  • Around the Web: A cool movie graphic, feedback tips, a surprise guest, and more cool internet finds.

🎧 On the go? Listen to today’s podcast for a quick-hitting news rundown to start your week. We’re zippin’ through bank collapses, business school, Instant Pots, and a whole lot more.

The big idea

Silicon Valley Bank is toast. Who else risks getting burned?

Nothing like a restful weekend of watching #BankCrash trend. Many questions surrounding the implosion of Silicon Valley Bank, a staple in the startup world, can’t be answered yet.

SVB collapsed hard — and fast — last week when insolvency fears sent investors and clients racing to pull out their money. Federal regulators stepped in, assuring depositors they could access their funds again starting today.

Let’s start to unpack this thing

SVB goes down as the second-biggest bank failure in US history, per The Wall Street Journal. (RIP, WaMu.) But this isn’t a 2008 rerun, experts caution.

What’s different? A healthier economy, with the big banks still looking strong. Plus, SVB carried unique vulnerabilities. Leaning on a roster of venture-backed clients, they faced downwind effects from VC’s increasingly rough year.

Other non-diversified banks will sweat, but major systemic cracks haven’t materialized (yet). The immediate focus: tamping down panic that could lead to a run on any other firms.

And all this means what, exactly?

Economic journalist Noah Smith summed up this moment as “one more shoe dropping in the slow deflation of the Second Tech Boom.”

This week will reveal much more. As the story remains volatile, there are very few clear takeaways right now. But we do know of some winners so far:

  • FDIC limit awareness: Having more than $250k? Good problem to have. Having it all in one account? Risky.
  • Subpoena enthusiasts: Some SVB execs cashed out with questionable timing. Last-gasp bonuses were dispersed. Scrutiny lovers are in for a great week.

On the other hand, it’s surely not a great week ahead for:

  • VC. Some VCs described “sheer panic,” per Fortune. Adding to the uncertainty: SVB was a prominent lender and investor for leading firms.
  • The person who wipes the egg off Jim Cramer’s face.
Share on Facebook Share on Twitter Send as email to a friend View on our website
eyeball wearing a hat

A comeback story for the ages: Vinyl sales topped CD sales in 2022, something that hasn’t happened in 35 years. Maybe there’s hope for you yet, cassette tapes.


Absolutely not: Hidden Valley Ranch and Van Leeuwen Ice Cream will sell ranch-dressing-flavored pints at Walmart stores nationwide between March 20-28.

Heads up: The FDA approved Zavzpret, Pfizer’s first-of-its-kind nasal spray for migraines. It’s expected to hit pharmacies in July.

Disney is reducing available nights at its Star Wars: Galactic Starcruiser hotel as occupancy slumps. It is, after all, ~$4.8k+ for a two-night stay.

Meta is working on a decentralized platform for sharing text updates, which sure sounds a lot like a decentralized Twitter.

Speaking of, Twitter is offering researchers access to its API, starting at $42k/mo. Pre-Musk, this data was free.

Wow: Saudi Arabia’s Aramco reported a record profit of $161.1B in 2022, up 46.5% YoY and nearly 3x that of oil rival Exxon Mobil.

Scream VI opened to a franchise-best $44.5m domestically over the weekend, seizing 32% of Saturday’s theater foot traffic and bumping Creed III to second place.

Grammarly is launching GrammarlyGo in April. The AI tool is designed to help users improve their tone, generate outlines, and overcome writer’s block.

Code-switching means changing how you talk, dress, or act at work to fit in with the dominant culture. It can have some negative consequences, so here’s how to avoid it.

how MBAs stack up against inflation
Olivia Heller

The MBA vs inflation

With 128k+ layoffs and counting in the tech industry this year, business schools — weathering a 25% dip in domestic applications — are hoping to scoop up some of this talent.

  • Some programs are waiving requirements for standardized test scores for people who were recently laid off. Others are tossing application fees.

Yet the economic downturn isn’t as bad as 2008, and inflation has complicated the picture. Can an MBA salary beat the rising cost of living?

It depends on how you use it

Per data collected by Bloomberg, in 2022, the median salary gain between students’ pre-MBA jobs and their first job after graduation was $85k. Between 2018 and 2022, the median growth in MBA earnings was 28.1%, compared to 18.7% for all US workers and 17.6% inflation.

MBA graduates who went into consulting and technology, ~50% of grads, fared the best in terms of scoring median salaries that have outpaced inflation. Of course, the tech sector isn’t exactly thriving right now.

And it’s important to note — despite being “masters” of business, MBAs aren’t immune from inflation.

Between 2018 and 2022, around half of new MBA grads entered fields where the median growth in compensation did not keep pace with inflation.

Share on Facebook Share on Twitter Send as email to a friend View on our website
Free Resource

Five cover letter templates for job hunters

When searching for work, you’re up against the world.

That’s why the cover letter is crucial. It’s a chance to first-impress, sell your story, and explain why you make it rain.

A tip from us — don’t overthink the structure. Use these five timeless templates to break the ice on writing introductions.

Focused, fill-in-the-blank cover letter samples:

  • Standard template
  • Entry-level template
  • Data-driven template
  • Referral template
  • Skimmable template

Play some Mad Libs. Make ’em sob. Godspeed.

Five classic cover letters →

Digits: Instant Pots, a really expensive mile, and more news numbers

1) Trending down: The number of executive administrative assistants in the US. Between 2000 and 2021, the count dropped 63% from 1.37m to 508k. By 2031, the number is expected to drop another 20% to 404.4k.

2) The price tag on New York City’s 1.5-mile Second Avenue Subway extension to East Harlem is now expected to be $7.7B, up $800m from previous estimates, making it one of the most expensive per-mile railroad expansions in human history.

3) So far, the biggest movie of 2023 is 71-year-old Chinese filmmaker Zhang Yimou’s Full River Red, with the blockbuster raking in $670.3m so far in China. This week, it’s coming to 150 theaters in the US and Canada.

4) It’s rough out there. Per estimates from Redfin, US sales of luxury homes in the three months ending Jan. 31 were down 44.6% YoY, and non-luxury sales were down 37.5%. In Miami, luxury sales dropped 68.7%.

5) Instant Pot’s pop: Sales of the kitchen gadget reached a steaming-hot $758m in 2020, but cooled 50% to $344m in 2022. Instant Brands now has ~1.9k+ employees after cutting 15% of its staff.

Share on Facebook Share on Twitter Send as email to a friend View on our website

🎥 On this day: In 1991, Paris Is Burning debuted in NYC. The award-winning documentary explores the city’s drag balls, voguing, and queer culture. 

🔫 That’s cool: Star Wars IV: A New Hope as a scrolling graphic.

🎧Tune in: The Another Bite crew jumped back in the tank to revisit an at-home fitness startup, a slow-fashion business, and iceless coolers.

🤓 How to: Solicit honest feedback as a leader.

🐈 Aww: And now, a surprise musical guest.

migraine tweet

Nah, that can’t be it. (Link)

How did you like today’s email?
Love It Meh Hate It
Today’s email was brought to you by Jacob Cohen, Juliet Bennett Rylah, .
Editing by: Mark “Definitely not MBA material” Dent.

Was this email forwarded to you? Sign up here.

Facebook Youtube Instagram Twitter
2 CANAL PARK, CAMBRIDGE, MA 02141, UNITED STATES   +1 888 482 7768
Never want to hear from us again? Break our hearts and unsubscribe.
The Hustle

Get the 5-minute roundup you’ll actually read in your inbox​

Business and tech news in 5 minutes or less​



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?

[email-submission-form button-text="Join Free" include-trends-opt-in="true" success-url="" default-source="thehustleco" default-medium="home-exit-popup" default-campaign="home-page" form-id="exit-popup-general" optinmonster-conversion="true"]
<script type="text/javascript"> var onloadCallback = function() { grecaptcha.render('verify-your-humanity', { 'sitekey' : '6LdddrcZAAAAALyttpvOqiwQGwq5BNhgDz4tMQGE' }); }; function getCookieValue(a) { var b = document.cookie.match('(^|[^;]+)\\s*' + a + '\\s*=\\s*([^;]+)'); return b ? atob(decodeURIComponent(b.pop())) : ''; } function getCookie(name) { var cookieArr = document.cookie.split(";"); for(var i = 0; i < cookieArr.length; i++) { var cookiePair = cookieArr[i].split("="); if(name == cookiePair[0].trim()) { return decodeURIComponent(cookiePair[1]); } } return null; } function setHiddenFieldValue(wrappingDiv, searchParams, className, utmName, cookieName, defaultValue) { var el = wrappingDiv.getElementsByClassName(className)[0]; var existingVal = el.getAttribute('value'); if (utmName == 'ref') { var newVal = searchParams.get(utmName) || getCookie(cookieName); } else { var newVal = searchParams.get(utmName) || getCookieValue(cookieName); } if ((existingVal == null || existingVal == '' || existingVal == defaultValue) && (newVal != null && newVal != '')) { el.setAttribute('value', newVal); } } function setHiddenFieldValueFromUtm( wrappingDiv, searchParams, className, utmName, defaultValue ) { var el = wrappingDiv.getElementsByClassName(className)[0]; if (el != null) { var existingVal = el.getAttribute("value"); var newVal = searchParams.get(utmName); if (newVal != null && newVal != "") { el.setAttribute("value", newVal); } } } function initForm() { var wrappingDivs = document.getElementsByClassName('email-submission');,wrappingDiv => { var sp = new URLSearchParams(; setHiddenFieldValue(wrappingDiv, sp, 'funnel-source', 'utm_source', 'funnel_source', 'thehustleco'); setHiddenFieldValue(wrappingDiv, sp, 'funnel-campaign', 'utm_campaign', 'funnel_campaign', 'home-page'); setHiddenFieldValue(wrappingDiv, sp, 'funnel-medium', 'utm_medium', 'funnel_medium', 'home-exit-popup'); setHiddenFieldValue(wrappingDiv, sp, 'funnel-referral', 'ref', 'funnel_referral', ''); setHiddenFieldValueFromUtm(wrappingDiv, sp, 'funnel-a', 'a', ''); setHiddenFieldValueFromUtm(wrappingDiv, sp, 'funnel-c', 'c', ''); setHiddenFieldValueFromUtm(wrappingDiv, sp, 'funnel-o', 'o', ''); setHiddenFieldValueFromUtm(wrappingDiv, sp, 'funnel-oc', 'oc', ''); setHiddenFieldValueFromUtm(wrappingDiv, sp, 'funnel-e', 'e', ''); setHiddenFieldValueFromUtm(wrappingDiv, sp, 'funnel-f', 'f', ''); setHiddenFieldValueFromUtm(wrappingDiv, sp, 'funnel-r', 'r', ''); setHiddenFieldValueFromUtm(wrappingDiv, sp, 'funnel-t', 't', ''); setHiddenFieldValueFromUtm(wrappingDiv, sp, 'funnel-s1', 's1', ''); setHiddenFieldValueFromUtm(wrappingDiv, sp, 'funnel-s2', 's2', ''); setHiddenFieldValueFromUtm(wrappingDiv, sp, 'funnel-s3', 's3', ''); setHiddenFieldValueFromUtm(wrappingDiv, sp, 'funnel-s4', 's4', ''); setHiddenFieldValueFromUtm(wrappingDiv, sp, 'funnel-s5', 's5', ''); var error_message = getCookieValue('validate-email-message'); if (error_message && error_message.trim() != '') { var error = wrappingDiv.getElementsByClassName('funnel-error')[0]; var prev_email = getCookieValue('funnel_email'); error_message = prev_email + " is not valid. Please try again"; error.innerHTML = error_message; = ''; } }); if (false) { initCaptchaFormV2(); } } function initCaptchaFormV2() { var v3RecaptchaResponseEl = document.getElementById('recaptcha-response-v3'); v3RecaptchaResponseEl.parentNode.removeChild(v3RecaptchaResponseEl); var wrappingDiv = document.getElementById('email-submission'); var subForm = wrappingDiv.getElementsByClassName('email-submission')[0]; var captchaVersion = document.createElement('input'); captchaVersion.class = 'g-recaptcha hidden-input'; captchaVersion.type = 'hidden'; = 'g-recaptcha-response-v2'; captchaVersion.value = 'true'; subForm.appendChild(captchaVersion); var captchaEl = document.createElement('div'); = 'verify-your-humanity'; subForm.prepend(captchaEl); var captchaApiScriptEl = document.createElement('script'); captchaApiScriptEl.src = ''; captchaApiScriptEl.async = true; captchaApiScriptEl.defer = true; document.head.appendChild(captchaApiScriptEl); } window.addEventListener('DOMContentLoaded', (event) => { initForm(); }); if(typeof hp_interval == 'undefined') { var hp_interval = 0; var hp_ts = 0; var hp_try = 0; jQuery(document).ready(function ($) { hp_interval = setInterval(function(){ $('input.hp_ts').val(hp_ts); hp_ts += 1; if(hp_ts >= 180) { clearInterval(hp_interval); } },1000); $('.email-submission:not(.prevent-default)').submit(function (e) { var form = $(this); if(hp_ts < 3 && hp_try < 1) { e.preventDefault(); if (form.find('.email-form-submit-message').length < 1) { form.find('.email-form-wrap').after('<p class="email-form-submit-message" style="padding: 0em 1.5em;">Too fast! Are you a human? Try again please.</p>'); } hp_try += 1; hp_ts = 0; $('input.hp_try').val(hp_try); } }); }); } </script> <div class="email-signup" id=email-submission> <div class="funnel-error" style="display:none;"></div> <form class="email-submission " id="exit-popup-general" action="" method="post" autocomplete="email"> <div class="email-form-wrap"> <input class="funnel-source hidden-input" type="hidden" name="source" value="thehustleco"> <input class="funnel-campaign hidden-input" type="hidden" name="campaign" value="home-page"> <input class="funnel-medium hidden-input" type="hidden" name="medium" value="home-exit-popup"> <input class="funnel-form-id hidden-input" type="hidden" name="form-id" value="exit-popup-general"> <input class="funnel-referral hidden-input" type="hidden" name="referral_code"> <input class="funnel-fail-url hidden-input" type="hidden" name="fail_url" value=""> <input class="funnel-ip-country-wordpress hidden-input" type="hidden" name="ip_country_wordpress" value="US"> <input class="funnel-submission-url hidden-input" type="hidden" name="submission_url" value=""> <input class="funnel-a hidden-input" type="hidden" name="a" value=""> <input class="funnel-c hidden-input" type="hidden" name="c" value=""> <input class="funnel-o hidden-input" type="hidden" name="o" value=""> <input class="funnel-oc hidden-input" type="hidden" name="oc" value=""> <input class="funnel-e hidden-input" type="hidden" name="e" value=""> <input class="funnel-f hidden-input" type="hidden" name="f" value=""> <input class="funnel-r hidden-input" type="hidden" name="r" value=""> <input class="funnel-t hidden-input" type="hidden" name="t" value=""> <input class="funnel-s1 hidden-input" type="hidden" name="s1" value=""> <input class="funnel-s2 hidden-input" type="hidden" name="s2" value=""> <input class="funnel-s3 hidden-input" type="hidden" name="s3" value=""> <input class="funnel-s4 hidden-input" type="hidden" name="s4" value=""> <input class="funnel-s5 hidden-input" type="hidden" name="s5" value=""> <input class="funnel-success-url hidden-input" type="hidden" name="success_url" value=""> <input id="recaptcha-response-v3" class="g-recaptcha hidden-input" type="hidden" name="g-recaptcha-response" value=""> <div class="signup-icon" style="display:none;"> <svg width="24" viewBox="0 0 24 24" fill="none" xmlns=""><path d="M22 6c0-1.1-.9-2-2-2H4c-1.1 0-2 .9-2 2v12c0 1.1.9 2 2 2h16c1.1 0 2-.9 2-2V6Zm-2 0-8 5-8-5h16Zm0 12H4V8l8 5 8-5v10Z" fill="#848B92"></path></svg> </div> <input type="hidden" name="hp_ts" class="hp_ts" value="0"> <input type="hidden" name="hp_try" class="hp_try" value="0"> <input type="text" name="first_name" placeholder="Enter your name" value=""> <input class="signup-email" type="email" name="email" placeholder="Your email address" required autocomplete="email"> <input class="email-submit om-trigger-conversion" type="submit" value="Join Free"> </div> <div class="validate-mistake-emails-message" style="display:none;"></div> <div class="form-options" style="display:none"> <div class="form-options-wrap"> <div class="trends-opt-in"> <input id="trends_opt_in_email_submission" class="trends-opt-in-checkbox" type="checkbox" name="trends_opt_in"> <label for="trends_opt_in_email_submission" id="trends_opt_in_label" class="trends-opt-in-text">Yes, I’d like to receive additional marketing emails on hot business opportunities from Trends, by the Hustle.</label> </div> <div class="privacy-text"> <p>We're committed to your privacy. The Hustle uses the information you provide to contact you about our relevant content and services. You may unsubscribe from these communications at any time. For more information, check out our <a href="">Privacy Policy</a>.</p> </div> </div> </div> <div submit-success> <template type="amp-mustache"> <p class="c-message c-message--success">Thank you for subscribing.</p> </template> </div> <div submit-error> <template type="amp-mustache"> <p class="c-message c-message--failed">Your submission failed. Please try again!</p> </template> </div> </form> </div>