Slime sellers are gettin’ rich and more in today's issue of The Hustle.
What’s going to happen in the business and tech space in 2023? We want to hear your predictions, whether they’re savvy or just fun. Fill outour survey, and we’ll share some of the responses next week.
In today’s email:
The Elf on the Shelf:A lucrative empire.
Chart:Canada’s record year for syrup.
Slime:A surprisingly bankable business.
Around the web:The history of Christmas markets, a speed-reading tool, cat Festivus, and more cool internet finds.
🎧 On the go?Listen to today’s 10-minute podcastto hear Jacob and Juliet analyze the Elf on a Shelf industry, maple syrup’s record year, news out of Netflix, and a whole lot more.
THE BIG IDEA
The Elf on the Shelf empire
According to “Elf on the Shelf” lore, Santa Claus sends an elf scout to spy on children from Thanksgiving to Christmas. Each morning, it appears in a new place in the home for kids to find. Each night, it reports naughty and nice behavior to the North Pole.
The whole thing stems from a 2005 children’s book written by Carol Aebersold and her daughter Chanda Bell, and illustrated by Coe Steinwart.
BelltoldCNBCthat Aebersold played a similar game with her and her twin sister Christa Pitts as kids, leading them to write and market the story with her as adults.
Today, the sisters are co-CEOs of The Lumistella Company, which houses…
The massive Elf brand
Despite criticism that the elf iscreepyandnormalizes surveillance, the glassy-eyed dolls have become a full-fledged empire.
Now, parents are being encouraged to also buy pets, clothes, accessories, “mates,” and a carrying case (since you’re not allowed to touch the Elf lest it lose its powers).
The company hasn’t released recent financial data, but PittstoldFox Businessthat Lumistella employs 100+ people and has “adopted” out22.9m+elves, pets, and mates to date.
Pop culture loves Elf on the Shelf, too
It’s become apopular meme formatand anSNL parody— not to mention inspo for the Mensch on a Bench, a Hanukkah version developed by Neal Hoffman andfeaturedon “Shark Tank.”
SNIPPETS
Amtrak’sAiro trains, coming in 2026, have panoramic windows and upgraded seating. Some are electric-diesel hybrids.
Oops:H&Mpulleda collection of Justin Bieber merch yesterday after the pop star told his fans that it was “trash” he did not approve.
“South Park” creatorsTrey Parker and Matt Stone’s AI deepfake startup, Deep Voodoo, raised$20m.
The US Postal Servicewill replace its aging fleet of 220k+ vehicles witheven moreelectric ones than previously planned as part of a $9.6B project.
Netflix and drills:The company will start streaming30 hours worthof Nike Training Club fitness classes starting Dec. 30. Smart timing, with New Year’s coming up.
Yikes:Two men wereindictedfor allegedly hacking Ring cameras to livestream swattings — making false calls to police to get them to send a swat team.
Update:AMC will notacquireRegal parent company Cineworld, which filed for bankruptcy in September.
Amazoncould face up to$29kin fines related to 14 OSHA violations, claiming it improperly recorded work-related illnesses and injuries.
The blog squadbuilt aguideto help you hack your way into the high-paying field of product management.
CHART
Olivia Heller
Maple syrup had its sweetest year ever in 2022
This has been a good year for Canadian maple syrup. The best ever, actually.
In 2022, Canada yielded the most syrupon record, dating all the way back to 1924. This year, producers made 17.4m gallons of the sticky stuff, a 53% jump from 2021, when warmer-than-ideal spring temperatures meant a shorter maple season.
In 2020, the industry’s second-most prosperous year, the gross value of that year’s 14.3m-gallon yield was$413m.
To meet demand amid last year’s poor harvest, with Canada responsible for75%of the world’s maple syrup production, the Federation of Quebec Maple Syrup Producers tapped into its strategic reserve. (Yes, that’s a thing that exists.)
The warehouse, north of Montreal, holds up to94k barrelsof maple syrup, or ~5.1m gallons — almost enough to fill eight Olympic-size pools.
FREE RESOURCE
How to make bank selling phone calls
We all know some good, gum-flapping contractors.
Across the estimated $657B home services industry, tons of them are willing to pay for clients, or even prospects. And phone calls are still one of the market’s most valuable leads.
Our recent Trends report inspects the mechanics ofselling phone callsto contractors, with three ways to narrow down your niche:
We deliver fresh signals and insights for business builders. Test-drive the content and community informing 15k+ builders.
SLIME TIME
Kids are getting rich off… slime?
Real ones remember the rush of watching someone get covered in green slime on Nickelodeon.
Now, slime is having a renaissance on social media, perFortune. The hashtag #slime has been viewed78B+times on TikTok, propelled by users devouringASMRvideos.
Serious business
But the goo isn’t just for fun anymore: Gen Z and millennial creators are monetizing it for big bucks.
Some of the young moguls opened their online shops nearly a decade ago, only recently reaping the benefits of social media’s selling power. And sell they do:
OG Slimesreceives 2k-3k orders/mo. and has surpassed $100k in monthly revenue for the last three months.
Snoopslimes, helmed by an 18-year-old founder, has 40 employees and is expected to hit eight figures in revenue for 2022.
Peachybbiesoperates out of a 5k-square-foot warehouse and sold110k+units in 2021.
The slimes they are a-changin’
Gone are the days of shapeless putty. Today’s slime is modeled after your favorite treats, fromIceesandcookiestobirthday cakeand Starbucksdrinks.
The recipe for prime slime usually starts with a mix of glue, borax (a common household cleaner, not a Dr. Seuss character), and baking soda.
So, even though it’s shaped like food, it won’t satisfy your cravings — but it just might improve yourmental health.
AROUND THE WEB
📚On this day:In 1825, a fire at the Library of Congressdestroyedseveral books and a pricey rug, leading Congress to look into flame-retardant materials for the US Capitol.
🎁That’s interesting:Christmas markets are popular today, but they date backcenturies.
👓 Huh:Squirtis a browser extension that promises to help you read faster by displaying only one word at a time.
🏋️ Haha:A California cat rescue will celebrate Festivus a la “Seinfeld” with cats performing feats of strength and airing grievances. Tune inon Instagramat 1:30pm PST.