It could be a supergroup — or a turf war truce. The Hustle Mon, Dec 4 Brought to you by FreshBooks… the “accounting guru” you can’t find on Craigslist. Tencent Music and Spotify are in talks to swap 10% stakes in each other Chinese internet giant Tencent Holdings and Sweden’s Spotify AB are reportedly in […]
Brought to you by FreshBooks… the “accounting guru” you can’t find on Craigslist.
Tencent Music and Spotify are in talks to swap 10% stakes in each other
Chinese internet giant Tencent Holdings and Sweden’s Spotify AB are reportedly in talks to take a 10% stake in each other’s music streaming companies.
The deal would come just before both of their expected IPOs and would pair the two companies in future licensing deals with major music labels.
A little side-by-side
Both companies are killing it in their respective music markets, but Spotify will likely have a higher valuation upon going public, meaning if the deal is made, Tencent Holdings would pay Spotify the difference, so they both have equal shares in their music operations.
But Tencent Music definitely brings some worth to the table as well: while the company has far fewer paying subscribers (15m compared to Spotify’s 60m), they have 700m active users compared to Spotify’s 140m.
Why is this happening?
It could be a potential “alliance” between the two music streaming giants. Tencent Holdings has been actively trying to weasel its way into Western markets, and owning a stake in their Western music-counterpart just out in front of their IPOs makes sense for shareholders.
But Spotify claims they have no plans to enter the Chinese market anytime soon, even though last year, they reportedly went through a phase of reaching out to potential Chinese investors.
“Hmmm, seems like Tencent stands to gain more than Spotify…”
Yeah, it’s looking like it.
They’ll be able to learn how to attract more paying customers to their platform from Spotify and plant the seed to dominate the Western tech-isphere.
Many of their investments in companies like Tesla and Snap don’t exactly relate to their business model, but they directly rival their gargantuan fellow $500B competitors like Facebook and Apple.
The long con
Meet the world’s most-poached mammal: the pangolin
Last week, customs officers in Shenzhen, China announced that, back in July, they carried out one of the biggest busts in history.
This bust wasn’t a drug haul, a human trafficking operation, or a bootleg factory: it was a shipping crate full of 11.9 tonnes of scales from an estimated 30k pangolins.
The pangolin (which looks like a cross between an armadillo and an artichoke) has the unfortunate distinction of being the only mammal in the world to have scales made of keratin — the same protein in human hair, fingernails, and skin.
These scales are highly prized in traditional Chinese medicine and are thought to cure a variety of health ailments like cancer and asthma. Pangolin meat is also a delicacy, reserved for high-end banquets.
That means more than 1m pangolins have been poached in the past decade — making the pangolin the most heavily trafficked mammal in the world.
There are efforts underway to protect them
In 2016, 180 countries unanimously agreed to issue a ban on all international trade of the world’s 8 pangolin species.
But massive raids continue to uncover record quantities of smuggled pangolin (in 2013, 22k pounds of pangolin meat was found on a Chinese vessel), and this latest bust is nearly 4x bigger than any other on record. In other words, we’ve still got a long way to go.
You probably haven’t heard her name before, but you’ve certainly enjoyed the snacks her company’s produced over the years: Oreos, Wheat Thins, and Ritz crackers.
Rosenfeld is one of the big dogs of the processed food business — and her departure is yet another sign that junk food’s in the tank as Americans shift toward more health-conscious options.
Who is she?
Over the course of a 36-year run in the “big food” industry, Rosenfeld established herself as one of the most powerful women in business.
After a brief stint as the CEO of Frito-Lay, she became CEO of Kraft Foods in 2006. Four years later, she led a hostile takeover of British chocolate company Cadbury, then, in 2012, restructured Kraft into the internationally-focused Mondelez International.
Over the course of her career, she raked in $231m and mentored a number of other high-profile CEOs, including the chiefs at Campbell’s Soup, Hershey, and PF Chang’s.
What’s her departure mean?
It’s a signifier that we’re slowly shifting our dietary habits toward more health-conscious options.
Numerous studies and surveys show that American’s are seeking out healthier foods and are willing to pay more for them.
Mondelez spent more than a decade peddling cookies and chips, but with chia seeds becoming the new after-school snack for a generation, her sayonara is just another sign of the changing times.
But, hey, you can’t say she didn’t have a good run.
How to battle stage fright and crush your end of year presentation
The New Year’s fast-approaching, and that means one thing: end of year slide decks.
Pre-holiday recap meetings are a great opportunity to brag about you and your team’s accomplishments — but they’re also a source of dread for anyone who hates public (or semi-public) speaking.
If thinking about getting up in front of your boss has your palms sweaty, knees weak, and arms heavy, here are a few tricks from public speaking guru Anett Grant you can use to project confidence even if there’s vomit on your sweater already:
Be honest with yourself
If you know you get nervous with the higher-ups in the room, you can prepare for it. Convincing yourself that you don’t have speaking anxiety and then trying to “wing-it” is probably not the best game plan.
Just because you had a bad speech, doesn’t mean you’re a bad speaker
Ok, so you puked on a board member during last year’s elevator pitch. But as Edna Mode puts it, “never look back dahling, it distracts from the now.” Today’s a new day. Seize the slide deck.
Plan out concepts, not words
Even if you rehearse your entire presentation verbatim, you’re gonna slip up on a transition somewhere down the line. Focus on the big concepts you want to drive home, and don’t get rattled if you stumble on a word or two.
Alright, pep talk over. Now go get Tony Robbins on your next presentation.
The Community Spotlight is where we give a bad*ss Hustle reader the chance to share their story and give us their elevator pitch on, well, themselves. Today’s feature is on John Sherwin, a dude who plans to have “Hydration is key” inscribed on his tombstone (we assume). Wanna see your face here? Refer at least 5 people using your unique link and send us your best elevator pitch with this survey.
I’ve just launched Hydrant, a hydration product succinctly described as “Pedialyte for Adults,” without the artificial stuff.
Long term vision: build the most trusted Health brand America has ever seen.
What got you where you are today?
A lot of luck (re: privilege), curiosity, and a love of science and facts.
What’s something your coworkers don’t know about you?
I smashed my 2 front teeth in half playing field hockey in the UK as a kid. They’re half fake.
OK, cut to the chase — give us your elevator pitch:
We’re the Health brand that you can trust — without the bullshit. No overpromising and under-delivering, no hiding behind random research that proves nothing. The real deal.
Plus, when we’re a BFD, you guys can say you called it first.
There you have it folks. A real go-getter with fake teeth. Check out his Indiegogo here (he even gave Hustle readers a $10 discount), and woo us via this form to be featured in our next Community Spotlight. Remember, there will be a ton of submissions so we will only be able to consider readers who have referred 5 or more friends.
monday morning review
A one-two punch
ONE: if you weren’t already face-first in a plate of French toast, or cresting a hill on a scenic hike, you might’ve stumbled on our email yesterday.
That’s right — we sent an email on Sunday. A 2017 Gift Guide, to be precise.
But this isn’t just any ol’ Gift Guide — this is a list of 50(ish) of the best products suggested by you and reviewed in-depth by our team at The Hustle, so you can spend your next few Sundays snoozing by the fire, not shopping.
TWO: We’re constantly hearing stories from all of you about the awesome things you’re working on, and starting this week, we’re giving you a platform to tell the world — or at least half a million readers.
That’s why we started our Community Spotlight segment (above), where we feature a Hustle reader who blew us away with their story.
Take a peek at the cool things people like yourself are building, and throw your hat in the ring for our Dec. 18th Spotlight: refer 5 people by next week and tell us about yourself here.
— Lindsey, Head Shopping Procrastinator
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