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A funding festival in India promised access to investors controlling $600B of capital, plus appearances from Google CEO Sundar Pichai and Elon Musk⊠and nope, it was basically Fyre Festival 2.0. Attendees are pissed, but at least the Hulu docu-series we assume is already in development will give their businesses exposure?
In todayâs email:
Clubhouse: Is it still a thing? Technically, yes.
When you were 12, you didnât patent glow-in-the-dark paper. Becky Schroeder did.
Lactose intolerant: Gen Z ainât buying what Big Dairy is selling.
Around the Web: An R&B exhibit, the four Pâs, a wild survival story, and more cool internet finds.
đ§ On the go? Listen to todayâs podcast to hear Zack and Rob discuss the demise of social audio, HBOâs new Harry Potter series, the downside to Forbesâ 30 Under 30, and more.
The big idea
Clubhouse outlasted its copycats â but should keep the Champagne on ice
Meta, Spotify, and Reddit are all retreating from social audio, and itâs hard to blame them.
2023-04-05T00:00:00Z
Ben Berkley
Two years ago, Clubhouse was the darling of social media. âDarlingâ isnât even sufficient here, really â they got Oprah to do an exclusive interview.
The audio chatroom app attracted top talent, registered ~10m users, and raised $310m.
But life comes at you fast on the internet, where success often breeds success â for other companies, who produce their own resource-rich version of your most unique features.
Clubhouse spawned audio hangout products from Meta, Reddit, and Spotify, among others, andâŠ
Clubhouse is actually still here; its rivals are not
Some credit is due here: Clubhouse remains in operation, officially outlasting its deep-pocketed challengers.
Twitter Spaces, another product of the Clubhouse boom, may or may not have life in it, depending on how Twitterâs chief executive feels today.
If only thatâs where the story ended
Thereâs still hope inside Clubhouse â theyâve changed strategy, waving off âbroadcastingâ to focus on smaller, private groups.
For a social platform, itâs relatively lean at ~100 employees â and claims to have âyears of cash in the bank,â perBloomberg.
But every time weâve checked the app this week, itâs been quiet⊠eerily so. And thereâs good reason â according to CBS News, Clubhouse is down to 200k monthly users.
Plus, itâs hard to ignore the leadership exodus. Gone over the last year, perThe Information, include the heads of: Strategic Partnerships, Monetization, Global Marketing, International, News, Sports, and Brand Development. Ouch.
Some great publications have pondered the idea that social audio is already dead. They may have a point.
TRENDING
Gratitude for driverâs license renewal fees, which are expensive, but not this expensive. A 1955 Disneyland Autopia license signed by Walt Disney sold at auction for $12.5k â and it doesnât even help if you get pulled over.
SNIPPETS
The last domino to fall: Apple will eliminate an unknown âsmall numberâ of corporate roles, becoming the final one of the five tech giants to cut staff this year. Itâs still too early to entirely write off 2023 as a Bad Year, but it sure ainât great in Big Tech so far.
Streaming magic: Looks like the wizards at HBO are hoping to cast a spell on audiences with a seven-season Harry Potter TV show. Itâs unclear if J.K. Rowling, whose books sold 600m copies and led to $7.7B in box-office sales, will produce the series.
In other franchise news⊠Only 37% of Americans who started streaming Amazonâs âThe Lord of the Rings: The Rings of Powerâ actually finished the series. Which, by the way, cost $500m+ to produce.
The Taurus Turnpike: Navigation app Waze is letting drivers choose from a selection of new driving experiences, including a zodiac theme. Canât wait for all the hotheaded Aries to blame their road rage on this.
Not hiring⊠as much: US job openings dipped to 9.9m in February, the first drop below 10m since May 2021. Some sectors, especially the service industry, remain tight.
Tesla must pay ~$3.2m to a Black former employee who accused co-workers and superiors at Teslaâs Fremont, California, factory of racist remarks. Itâs far less than the $137m a jury previously awarded the plaintiff, which a judge knocked down to $15m.
To be Frank, yikes: Charlie Javice, who founded the college financial aid company Frank, was arrested for allegedly defrauding JPMorgan Chase into buying her company for $175m. Prosecutors accuse Javice of duping them by using a data set of millions of fake customers.
Crash landing: Unable to secure additional funding, Virgin Orbit has filed for Chapter 11 bankruptcy. Despite four successful missions, its first UK rocket launch failed and sent stocks sinking.
Best of the web: Voting is open for the 27th Annual Webby Awards. Nominees include NASA, HBO, Cirque du Soleil, and our friends, My First Million. Metallica and âStranger Thingsâ also scored a nom for best collaboration. đ€
More trouble for TikTok: Australia is the latest to ban the app on government devices, effective ASAP. TikTok was the second-most-downloaded app in Australia last year â behind the national Taxation Officeâs app.
Entrepreneur vs. business owner: Whatâs the difference? We broke down all the factors that go into distinguishing the two.
Feature
Sara Friedman
How the youngest female inventor changed the glow-in-the-dark market
2023-04-05T00:00:00Z
Jacob Cohen
On a November evening in the early 1970s, Becky Schroeder waited in the dimming light of a department store parking lot for what felt like hours.
She had a math assignment to finish, but it was too dark to see the paper resting on her lap.
Thatâs when a lightbulb turned on, the one inside her head: What if her paper could glow?
In the coming years, Schroeder would be featured in newspapers, magazines, and TV segments across the country as the youngest female inventor in the US.
NASA would inquire about her, the restaurant industry would use her innovations, and generations of young inventors would see her as an inspiration.
But as she waited for her mother in the parking lot, Schroeder didnât know any of that yet. She just knew she had to finish her homework.
Savvy marketers know â buyer personas help brands stay focused.
See, once you manifest Tactful Todd, a humble growth-guy-turned-founder from Phoenix whoâs really into brewing beer and being outdoorsy, you realize⊠Tactful Todd is probably out there. Tactful Todd is a friend.
No matter the pitch, youâre talking to people. This buyer persona kit will help you hone in on them. Included is a gleaming guidebook complete with samples and templates.
Nail your target audience:
Learn what buyer personas are (and arenât)
Customize your own (peek at our examples)
Bolster them with research, surveys, and interviews
Gen Z just isnât that into milk, buying 20% less than the national average in 2022.
2023-04-05T00:00:00Z
Juliet Bennett Ryla
Remember that carton of milk you had to drink at school lunch every day lest your bones crumble to dust? Well, Gen Z ainât into it.
A generation not subjected to the once-ubiquitous Got Milk? campaign, Gen Z is more into the growing list of milk alternatives or beverages that contain no milk at all, perThe New York Times.
They bought 20% less milk than the national average in 2022, though they do consume yogurt, cheese, and other dairy products.
Whatâs wrong with milk?
Well, ~30-50m Americans are lactose intolerant, and the likelihood increases among those of African, Hispanic, Asian, and American Indian descent. Gen Z is more diverse than previous generations. Plus:
They didnât love the skim and low-fat milks served in schools (which, it turns out, are not better for you than whole milk).
They worry about the dairy industryâs impact on climate change.
Big Milk is apparently a big liar; milk isnât as crucial for bones as previously thought.
Thereâs also âmilk shame,â which refers to the stigma that itâs weird for adults to enjoy plain milk.
In media, villains love milk, from A Clockwork Orange, to âThe Boysâ and Get Out. The latterâs director, Jordan Peele, said, âThereâs something kind of horrific about milk.â
Could milk be the new Gatorade?
Some studies suggest chocolate milkâs composition promotes post-workout muscle recovery, leading campaigns to position it as a sports drink.
But if the idea of crushing a creamy pint after a run curdles your stomach, the NYT didnât quite buy it either, instead positing that milk â like many things â may come back around without splashy campaigns, thanks to its wholesome simplicity.
AROUND THE WEB
đ€Ż On this day: In 1943, Brazilian fishermen rescued Chinese sailor Poon Lim, whoâd been floating on a raft in the South Atlantic for 113 days after the British ship he worked on was sunk by a German U-boat. He survived on rainwater, fish, and birds.
đž Thatâs cool: The Country Music Hall of Fame and Museumâs new online exhibit, âNight Train to Nashville: Music City Rhythm & Blues, 1945-1970,â showcases the history of the cityâs R&B scene.
đ żïž Watch: The four Pâs are a tried-and-true marketing staple. This video breaks down what they are, why they work, and how to use them.
đž Thatâs interesting: The history of the mug shot, standardized by Parisâs chief of criminal identification in the late 19th century.
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