The Hustle Daily Show

hubspot makes impossible growth impossibly easy for their customers and here's the perfect example more house college needed to reach new students with fresh engaging content but with a massive nine hundred page website yeah even the tiniest updates took thirty minutes to publish breeze hubspot collection of ai tools helped them write and optimize their content in a fraction of the time the results thirty percent more page views and visitors now spend twenty seven percent more time on their site if you're ready for impossible growth like this you can visit hubspot dot com good morning everybody and happy friday it's july eleventh i'm john w miguel in the back seat of a driverless cab and this is the hustle daily show after decades of promises tesla finally launched its robo taxi service in austin last month and the results have been well let's just say viral for all the wrong reasons today we're asking the trillion dollar question though can tesla's chaotic robo taxi rollout actually saved the company or is elon musk just playing catch up in a race that way has already won we'll get into all that in a minute but first it's time for some business and tech news today we're starting off with some big news for nvidia heads out there on wednesday nvidia became the first company in history to hit a four trillion dollar market cap wall street investors of course are eating this up as they should a little history behind this tech revolution nvidia passed one trillion dollars in mid two thousand twenty three and then two trillion and three trillion followed quickly after okay into some airlines shares for delta airlines lifted off this week with the shares going up about eleven percent ceo of delta said that bookings have generally stabilized and that twenty twenty five will be a huge year for travel this is a positive outlook compared to the last wishy washy update the company shared in april not sure of how things would really shake out next on to video games video game actors rep by hollywood union sag aft and studios including act division and ea have ratified a new contract after an eleven month strike the deal includes increased compensation and ai protections they're gonna need that next into food shares of serial company w k kellogg popped thirty percent in prem market trading yesterday following news that chocolate maker fe will acquire it in a deal worth three point one billion dollars in twenty twenty three kellogg companies spun off w k kellogg as a standalone serial company and renamed itself cal a snack company with brands including pringles and chi you know the ones you like mars agreed to acquire cal for thirty six billion dollars in twenty twenty four though that deal hasn't closed just yet and finally here thrifty rite aid eighty five year old ice cream brand has been acquired for nineteen point two million dollars by hill rod holdings which is owned by monster beverage ceo hilton sc and former monster c ceo rodney slacks the duo previously acquired hanson a bankrupt soda and juice company and turned it into well monster energy hey everybody i'm listening to this great podcast lately it's called latin x and power hosted by tai fernandez and it's brought to you by the hubspot podcast network the audio destination for business professionals so latin power is a podcast that features interviews with top level executives entrepreneurs and innovators from latin america aiming to d the tech industry by providing listeners with an insider perspective and insights from latin american leaders who have succeeded in their fields a lot of great episodes on this one my personal favorite recently was an episode with isabel alvarez who is a graphic designer that designs cookbook she has fifteen years of experience blending editorial design branding and experiential design she really views design as a catalyst for meaningful social change so i think this is a great episode to get you going with this show you can listen to latin power wherever you get your podcast okay on our main storage today it's all about the robo taxis and tesla we're tackling a question today that's been keeping tesla investors awake at night will tesla's robo taxi service saved the company or is it just kind of another over hyped promise because y'all after a decade of full self driving is just around the corner notifications tesla finally launched its robo taxi service in austin texas last month and let me tell you the results haven't been spectacular on that front so buckle up because we're about to take a ride through the world of autonomous vehicles where the stakes are trillion dollar valuations and the competition is absolutely crushing it while tesla is just kinda getting started so let's start with the basics tesla officially launched its robo taxi service last month on june twenty second with paying customers able to hail rides using a dedicated app for a flat fee of four dollars and twenty cents per ride because elon musk picked that number of all numbers the service operates with ten to twenty modified model y vehicles from six am to midnight and here's the catch there's still a tesla employee sitting in the front passenger seat who can stop the car if things go wrong now this might sound under for a company that's been promising fully autonomous vehicle since two thousand and fifteen but context matters tesla stock popped up eight percent on monday after the launch showing that investors are still hungry for any sign of progress on the autonomous front but here's where things get a bit interesting and by interesting i mean slightly terrifying within days of the launch video started surfacing online showing ten la robo taxis doing things that would make your driving instructor breakdown crying at the wheel like how mine used to do terrifying new footage shows a tesla robo taxi ripping through partially flooded streets in austin texas while the vehicle blasting past human operated vehicles that are operating with far more caution while passing on the right lane and this isn't just one incident we're talking about a pattern of behaviors that had regulators and safety experts raising some red flags videos posted on social media showed the company's robo taxis driving in a chaotic manner on public roads in austin texas including one tesla robo taxi spotted traveling the wrong way down a road and another shown breaking hard in the middle of traffic responding to quote stationary police vehicles outside its driving pat the national highway traffic safety administration was not impressed saying quote the agency is aware of the referenced incidents and is in contact with the manufacturer to gather additional information that's some government speak for we're watching and we are not too happy essentially tesla's approach to autonomous driving is fundamentally different from its competitors and the numbers show it's not working out so well while tesla relies exclusively on cameras and ai companies like way use a combination of cameras radar and lit systems and the results speak for themselves way has completed more than five million autonomous trips in total which is four million paid in twenty twenty four alone and way has reported that it is now delivering more than two hundred and fifty thousand commercial driverless rides per week and surpassed ten million trips last month compare that to tesla handful of vehicles in one city and you start to see the mountain tesla has to climb here way is undoubtedly the leader in autonomous driving technology with their self driving software or sd sds being widely regarded as best in class according university of san francisco engineering professor william r the competitive landscape is absolutely brutal out there for tesla while musk was tweeting about robo taxis for years way was actually building them way service now operates in phoenix san francisco and los angeles covering more than five hundred square miles of public roads and they're expanding to austin atlanta and miami but it's not just way competitors in china including bai dues apollo go we ride and pony dot ai are also operating commercial robo taxi fleets with apollo go reported that it has surpassed eleven million trips tesla is of course playing catch up in a game where they were supposed to be the pioneers in twenty fifteen musk told shareholders tesla cars would achieve full autonomy quote within three years in twenty sixteen he said a tesla e he would be able to make a cross country drive without needing any human intervention before the end of twenty seventeen none of that happened as you're probably aware so what's different about tesla's approach the company is betting everything on what they call vision only technology essentially trying to replicate human driving using only cameras and ai it's ambitious it's cost effective if it works and it's currently producing videos that looked like they were directed by someone who's never heard of traffic laws tesla influencers who are part of the company's limited launch have maintained that robo taxis go above the speed limit to match the speed of traffic a practice they see a safer meanwhile way most policy is to follow the posted speed limit because apparently following traffic laws is still considered good practice by some companies but the technology differences are stark tesla's autonomous driving tech also exclusively relies on camera sensors making it far more vulnerable to inclement weather conditions such as heavy fog or rain compared vehicles equipped with radar and lit systems now let's talk about the elephant in the room can tesla's robo taxi service actually save the company quote quote because that's what this is really about tesla's stock valuation is built on the promise of autonomous vehicles among other things and the robo taxis rollout success is critical to tesla's one hundred billion dollar autonomous revenue target which underpins its trillion dollar valuation so let's dig into this goldman sachs analyst mark delaney estimates the market for traditional ride hailing in the us is worth approximately fifty eight billion dollars currently but it could be worth more than three hundred and thirty billion by twenty thirty with robo taxi type services pushing the industry forward that's a big opportunity if tesla can actually capture that but there's a problem tesla's premium it's priced to sales ratio of two point one times dwarf alphabet point eight times despite way most clearer monetization path tesla is priced for perfection in a market where they're currently getting outperformed by everyone else now wall street analysts such as dan iv believe robo taxis will usher in quote the golden era of autonomous for tesla that could power its market capitalization to more than two trillion dollars by the end of next year but that's a big if when your current service includes viral videos of cars driving through floods and going the wrong way down streets just in the first month the expansion plans here are ambitious ceo elon musk predicted on his social media service x that tesla robo taxis could launch in california's tech capital probably in a month or two pending regulatory approvals san francisco represents a massive market but it's also where u way has been operating successfully for a few years but here's what i'm really focusing on mentally tesla's robo taxi launch feels like a classic case of just kind of fake it till you make it but with some people's lives on the line tesla will not be using its futuristic vehicles dubbed cyber cab that were revealed on october tenth twenty twenty four instead the twenty twenty five tesla model why vehicles are equipped with what musk describes as new quote unsupervised version of tesla's full self driving software so they're not even using the purpose built robo taxis they showed off last year they're using regular model wise with updated software and hoping for the best interesting meanwhile way holds a big early lead and building vehicles at scale remains a significant hurdle for way currently they operate between seven hundred and one thousand vehicles in their major markets and are producing roughly fifteen hundred vehicles annually but they're actually working the regulatory environment is also working against tesla unlike way tesla is under federal investigation for its autonomous software it also still needs to provide the n tsa with answers to how it plans to roll out its robo taxi program a group of seven austin based lawmakers in the texas senate and house have signed a letter asking tesla to delay its launch until september though tesla ignored this request and launched anyways and the safety concerns are pretty real the limited video evidence that we've seen shows why a safety driver is still necessary according to bryant walker smith a law professor at the university of south carolina who studies transportation technology so back to our original question will tesla's robo taxi save the company the honest answer is that it's just way too early to tell but the signs are really not encouraging right now tesla has first mover advantage in manufacturing and a massive fan base but they're entering a market where competitors have years of head start and proven track records san francisco represents a two point one billion dollar annual ride hailing market but tesla faces a steep competition way early dominance partnerships with local transit authorities and lidar based technology give it an edge over tesla the technology approach is fundamentally different and so far tesla's vision only system is producing more problematic videos than successful rides a way most spokesperson said that the company has not yet seen a vision only system that can achieve the levels of safety its current system has achieved so at the end of all this tesla's robo taxi service feels like a company trying to validate a trillion dollar valuation with a bit of a beta test the potential is enormous here though if they can actually delivers safe for reliable autonomous vehicles at scale but right now they're competing against companies that are already doing what tesla is promising to do elon musk told cnbc nbc's david favor last month that tesla aims to have quote hundreds of thousands if not over a million self driving cars in the us by the end of next year that's a massive leap from twenty vehicles in austin to a million vehicles nationwide especially when the current twenty are already causing a bit of a problem the robo taxi market is absolutely massive and whoever wins is probably gonna print money for decades but tesla's current approach feels more like a hail mary pass than a carefully executed game plan in my opinion will it save the company only time will tell but right now it looks like tesla trying to catch up to a race that way has already been winning for years alright so that's gonna do it for us today everybody thank you so much for tuning the hustle daily show we're a proud part of hubspot media our editor is robert hart and our executive producer is darren clark we've got a lot more tech in business coverage in our newsletter if you're not subscribed go sign up the hustle dot c slash email and follow us on instagram at the hustle daily we will see tomorrow okay look side hustle fail when they consume all of your time i mean every single bit of it the pros though work smarter with ai doing all the heavy lifting to help you out we just drop the side hustle accelerator database you can search your exact problem for your side hustle grab the perfect prompt and get results if you're struggling with marketing content and customer service it's all solved in just seconds this isn't just another tool guys it's your unfair advantage in a spreadsheet so stop asking ai the wrong questions and start scaling with what actually works you can get it for free in the link in our show notes and you can stop right now actually why don't you to take a look down at those show notes and tap the link you don't wanna sleep on this

hubspot makes impossible growth impossibly easy for their customers and here's the perfect example more house college needed to reach new students with fresh engaging content but with a massive nine hundred page website yeah even the tiniest updates took thirty minutes to publish breeze hubspot collection of ai tools helped them write and optimize their content in a fraction of the time the results thirty percent more page views and visitors now spend twenty seven percent more time on their site if you're ready for impossible growth like this you can visit hubspot dot com hey good morning everyone it's thursday july tenth on mark dent here with ben berkeley and this is the hustle daily show today a we are talking about cheap cars or actually the lack thereof of inflation driven up the price of nearly everything in the economy of course but brands and models of cars associated with entry level prices have gone up particularly high and there are a few major reasons behind this we're gonna get to all that in a minute but first it's time for the business and tech news let's begin with nvidia because wednesday was a really big day for every wall street traders favorite stock nvidia soared in the morning enough for its market cap to exceed four trillion dollars for a little while that's trillion with a tea and it's the first time that any stock has been valued so high surpassing apple's old record of three point nine trillion dollars it's the year two thousand twenty five and ships are clearly more popular than fruit next up mcdonald's is trying to spice it up by adding a new pepper sauce to its mc muffins this week also the snack wrap returns to the menu permanently today and it will cost you two dollars and ninety nine cents ben our us snack wrap fan i mean i didn't have lunch today so i'm gonna say yes to any food but i think what's interesting to me about this is it feels like a reminder that nothing in business is forever you know since it came around fast food has always been known for being the cheap food option like the so foundational iron clad the certainty of life and it didn't hold these menus grew to be so not cheap that all these chains notably mcdonald's here are going to great lengths to reestablish that reputation and that's just a wild thing yeah and mcdonald's in particular saw some very big price hikes more so than even some of their fast food peers i'll be honest i filet for lunch on wednesday and it was over ten dollars for a meal and i just feel like ten dollars is like where i reached that boiling point and so this snack wrap i mean i think two ninety nine is just it's the new bargain price i think unfortunately mh alright let's stick with the sort of restaurant industry here and move on to starbucks as you may be aware starbucks has been trying to cut cost as part of its rebuilding plan under ceo brian nickel and restaurant dive reported yesterday that starbucks will offer executives as much as six million dollars in stock bonuses if they're able to reach cost reduction goals by late two thousand twenty seven in other words they will shower executives with millions of dollars if they can cut millions of dollars from the company we'll see how the math works out some other math really quick or at least numbers that restaurant dive pointed out the median starbucks employee makes less than the federal poverty line for an individual some bad news came down on wednesday also that is unless you're a fan of companies being really annoying with subscriptions the ftc click to cancel rule which would have required companies to be transparent about terms conditions and some prescription cancellations which had been enacted in two thousand twenty four was mixed by federal judges who agreed with critics that the agency failed to conduct a proper analysis before making this ruling ben you know i was thinking of canceling some subscriptions in the coming weeks and now it's like well i'm gonna have to go to harder lengths for some of these because i know that there are a lot of newspapers gyms whatever out there who won't just let me click online and do it that's gonna just at a little bit of time and potentially a lot of time for those who are less savvy at na getting the weird canals of a website but i think one prediction here i think credit card companies are not gonna like this prediction i would say disputed charges will rise out of this because people are gonna find these recurring fees on their statements and struggling to get out of them that's gonna be their recourse yeah could definitely be some reverberation here that in the meantime planet fitness can rejoice at least for a bit longer but to balance that out so there is some kind of cool news out there an extended reality startup out of dubai has raised a hefty two hundred fifty million dollars at a one point thirty five billion dollar valuation to fuel the development of sci contact lenses yes this is a thing they are smart contacts under development that would essentially pack night vision goggles bin in real time health monitoring right onto your eyeballs ben have you pre ordered these yet i mean i would they're getting a lot of funding so clearly people are seeing something that's real but as bloomberg noted there's a pretty big commercial hurdle here they need to really like shrink things down the technology the power source is gonna need to get down to something that actually fits in the eye it it kinda loses some power if you're having to charge or contact lens every ten minutes right and and no idea if this will turn out to those as you mentioned there are myriad issues at hand here but nevertheless props to ex you for coming up with a product that actually feels like the future that would have been in like back to the future and finally according to adobe amazon prime day event is expected to hit twenty three point eight billion dollars across us retailers that's up twenty eight percent year over year and it's also the equivalent of two black fridays given that online shoppers dropped ten point eight billion dollars on that sales event last year but maybe it's not really all that impressive seen as black friday's one day and prime day is now four days hey everybody i'm listening to this great podcast lately it's called latin x and power hosted by tai fernandez and it's brought to you by the hubspot podcast network the audio destination for business professionals so latin and power is a podcast that features interviews with top level executives entrepreneurs and innovators from latin america aiming to d the tech industry by providing listeners with an insider perspective and insights from latin american leaders who have succeeded in their fields a lot of great episodes on this one my personal favorite recently was an episode with isabel alvarez who is a graphic designer that designs cookbook she has fifteen years of experience blending editorial design branding and experiential design she really views design as a catalyst for meaningful social change so i think this is a great episode to get you going with this show you can listen to latin power wherever you get your podcasts alright let's move on to the main story i wrote not too long ago about cheap cars that are actually not cheap anymore ben why don't you just lead us a little bit here in this conversation for sure so i would say we're talking about ultimately the extinction of the twenty five thousand dollar vehicle which is a death that really rocked me as someone who recently shot for a new car but to put this in context in twenty nineteen nearly a quarter of all new auto sales in the us were under twenty five k earlier this year in february edmunds logged that number at only four point eight percent of car sales in the us so mark obviously as you said you reported in depth about this phasing out of affordability what gives what's driving it yeah so it's like that big picture stats would suggest potentially that like oh cars overall are just expensive and while that is true i went a little further into the data and got some data from kelly blue book and it just gets a little bit like crazy because it's the cheap cars that are getting expensive it's the sub compact cars it's mid level cars compact cars smaller trucks those have seen the highest price increases as have brands like kia and hyundai toyota dodge these brands that are a bit more associated with like thrift are the ones that saw the highest price increases for instance if you look at the overall inflation in the vehicle market from twenty nineteen to twenty twenty five the industry averages is about twenty nine percent are but hyundai prices have gone up forty eight percent kia have gone up thirty six percent dodges forty four percent meanwhile if you look at luxury brands like jaguar audi porsche they're all well below inflation to the extent that a jaguar now is cheaper than it was in twenty nineteen if you account for inflation there's a big addressable market here are these automakers kind of leaving money on the table as they're exiting this cheaper car or is it just like it doesn't matter because these luxury vehicles are so much more profitable basically the latter they are much more profitable the manufacturers would far rather sell a good number of pricey nice vehicles instead of a huge number of cheaper vehicles because the margins are that much higher and you know margins in the automotive industry are pretty much a well guarded secrets according to a couple of analysts who i spoke with but you know there is information that trickle out here and there and you're talking about for instance on like the ford f one fifty which is ford's you know best selling vehicle by far it's a truck that can cost anywhere from forty to sixty thousand and and even well into the ninety thousands if you wanna go you know all the way and you know they get something like maybe twenty percent margins on that whereas if if you're talking about one of their less expensive trucks like the maverick it's just a much smaller profit margin so there's no incentive to sell cheap cars as long as you can sell enough more expensive ones this seems like a q us specific phenomenon mh i was recently reading about by in china they're putting an e out price around like eight thousand dollar equivalent here on the market that sounds pretty nice to me i don't expect we're gonna be seeing that in the states do you have any sense of why that would be the case well by obviously has its own reasons which is that basically the imports are more or less impossible here and they wouldn't be so cheap if they were imported here so that is certainly one reason but like yeah in foreign markets you'll see that there are cars that have been discontinued in the us either by us automakers or by foreign automakers let's still sell those models overseas because people are still buying them there i guess and it comes down to this in some ways the american automakers especially have decided that they don't wanna sell cheap cars anymore and there's also another thing involved particularly if you compare the us to europe is that there's the dealer model here that you really don't have in europe people just pre order their cars online there and whereas here you know people go to the dealer and they buy whatever they get so the dealers can just stock these either more expensive cars or like more expensive trim levels i e detail levels whether that's cameras nice leather seats heated seats whatever they'll only have those types of vehicles available on their lots so people just buy them and you know they have been buying them at the end of the day consumers are buying these more expensive cars for the most part of over the last few years i mean that's the thing about your story that really caught me is you know the entire purpose of reading anything on the internet is to get mad about something and yeah identify who to be mad at and then rake them over the coals that's like the sport of our times but in reading this like there's no easy place to lay the blame here because automakers are serving their shareholders as they must and dealerships are just trying to exist as they should and then like consumers as you suggest they're also to blame here yeah because they are buying these higher term levels one analyst i spoke to with edmunds named ivan jury just kind of really emphasize this point that there is probably more demand for cheaper vehicles than is actually being provided no question about that but it's just not unusual for someone to want that higher trim level if you look at a couple years ago another ford model the explorer they had to release new higher trim conversions in the middle of the year because they could not sat the demand for these like nicer more expensive versions of the explorer honda has actually eliminated for the twenty twenty five year it's lowest trim model of the odyssey minivan so it's like the automakers and the dealers are clearly happy about this but there's a mixture of who's driving it they certainly are but consumers are a little bit too i mean as someone who got controlled into the premium package on the car i bought like yeah of course i accept the blame thank you for for to me my last question here is just like there's no way this is gonna reverse right would we say the twenty five thousand dollar cars has gone for good you know it's never over till it's over there are a couple of trends that started late last year that did suggest consumers trying to get a little more budget oriented when it comes to buying cars one example is the nissan sent which is still priced at under twenty five thousand dollars at least for its base model that had a forty percent year over year increase in purchases and ford has increased production of its lower trim version of the f one fifty for this year so i think it's possible that we have reached that breaking point but the other thing is as i mentioned earlier automakers they want these price or high margin vehicles and if they can just find a big enough market for that they don't even have to worry about it whether there's enough consumers who want these cheap vehicles or not they might just say too bad just don't look at used cars and and you know that's essentially what they've been saying so yes used cars that's going great for everyone too right because those are now so expensive yeah we can do that another day i think yeah for sure thank you everybody for tuning to the hustle daily show we're a proud part of the hubspot podcast network our editor today is robert hart on our executive producers darren in clark we have a lot more tech business coverage in our newsletter so if you're not subscribed please go get signed up at the hustle dot c slash email and you can also follow us on instagram at the hustle daily we will see you tomorrow hustle it's hard to remember now but the internet used to be fun i can't believe how easy it is to surf the net serves up on long shadow breaking the internet will trace how a tool that wants fueled democracy opposition activists organize a much on facebook became a weapon aimed at the very heart of it you're watching the unraveling of our democracy it right now from long lead and p this is long shadow breaking the internet subscribe now wherever you get your podcasts okay look side hustle fail when they consume all of your time i mean every single bit of it the pros though work smarter with ai doing all the heavy lifting to help you out we just drop the side hustle accelerator database you can search your exact problem for your side hustle grab the perfect prompt and get results if you're struggling with marketing content and customer service it's all solved in just seconds this isn't just another tool guys it's your unfair advantage in a spreadsheet so stop asking ai the wrong questions and start scaling with what actually works you can get it for free in the link in our show notes and you can stop right now actually why you take a look down at those show notes end tap the link you don't wanna sleep on this

hubspot makes impossible growth impossibly easy for their customers and here's the perfect example more house college needed to reach new students with fresh engaging content but with a massive nine hundred page website yeah even the tiniest updates took thirty minutes to publish breeze hubspot collection of ai tools helped them write and optimize their content in a fraction of the time the results thirty percent more page views and visitors now spend twenty seven percent more time on their site if you're ready for impossible growth like this you can visit hubspot dot com good morning everybody today's wednesday july ninth i'm john w with juliet at bennett r and mark dent and this is the hustle daily show devil egg c is a restaurant chain that serves you guessed it devil eggs so what makes this restaurant chain idea so compelling that it got mark cuban to make his last investment ever in his fifteen years on shark the devil is in the details we'll chat about it all in a bit but first let's give you the news in business and tech take it away mark thank you john let's start off the today with the movies it was a great weekend for theaters with the new jurassic park movie continuing a run of successful box offices this summer but not everyone is happy movie studios are pissed amc theaters according to deadline as america's largest theater chain is extending its pre show collection of trailers and advertisements amc ticket buyers now receive a more prominent notice to allow up to thirty minutes after the list showtime for length more ad filled pre film s this puts the chain more on par with other commercial barrage from rivals like regal and cinema mark but studio fear that movie goers will start skipping their trailers altogether and obviously the last thing that any studio wants is to have any more problems with getting people to come to the theater and commercials could be one of those reasons moving on to ai news what's the best way to deal with kids using ai to write papers and essentially have it do everything for them at least according to the people who have made a ton of money off ai it's to make the teachers better at ai microsoft open ai and ant t have invested twenty three million dollars in coordination with the new york teacher's union to develop ways for teachers to use ai in their curriculum we will see how that ends up working out onto to agriculture where there's an interesting story the us department of agriculture has released a plan to halt chinese purchases of us farmland some three and a half percent of farmland is owned by foreign countries in the us including about two hundred seventy thousand acres by china which is a tiny fraction of total american farmland sticking with federal agencies one of the most annoying parts about flying out of a us airport may be changing the tsa has said it will let passengers keep their shoes on while moving through security checkpoints at select airports with a government source time nbc news that the new protocol could expand nationwide passengers have had to remove their shoes since two thousand six due to concerns over explosives in two thousand and one richard reed boarded a plane with ten ounces of explosive materials in his shoes but was unable to dedicate them he is now serving a life sentence in prison and finally the alcohol recession continues even one of the biggest names in whiskey miguel can't reverse the liquor businesses declining fortunes as macau parent company ed reported a twenty six percent dip in its profits over the first quarter hey everybody i'm listening to this great podcast lately it's called latin x and power hosted by tai fernandez and it's brought to you by the hubspot podcast network the audio destination for business professional so latin power is a podcast that features interviews with top level executives entrepreneurs and innovators from latin america aiming to d the tech industry by providing listeners with an insider perspective and insights from latin american leaders who have succeeded in their fields a lot of great episodes on this one my personal favorite recently was an episode with isabel alvarez who is a graphic designer that designs cookbook she has fifteen years of experience blending editorial design branding and experiential design she really views design as a catalyst for meaningful social change so i think this is a great episode to get you going with this show you can listen to latin power wherever you get your podcast okay so today our big story all about eggs the devil eggs i'm my big fan of devil eggs they're delicious they're probably one of my favorite order and today we're talking about the business of devil eggs because a very important person in the finance world mark cuban purchased a double egg restaurant business so first juliet i would like to talk about what is a devil egg for anybody that may not know what a devil egg is i can't imagine there are many but let's start there well if you've never experienced the joy of a devil egg you know it's a hard boiled egg with the obviously the shell is taken off and then the yolk is removed then mixed up with a bunch of other stuff typically i wanna say mayonnaise yeah mayo mustard paprika salt pepper paprika for sure yeah and then whipped up and then put back in the yeah now some people just spoon it back in there some people get real fancy and they pipe it in as though it is frosting mh maybe there's some green onions or some more spices on it and that's the double egg i'm hungry very high protein snack yes if you have ever been to a pot you've probably seen them they're there and mark cuban seems to really like devil eggs because in his last investment ever on shark tank after fifteen years of service on the show he decided to invest in this devil egg company can you tell me about this devil egg company devil egg c yes devil egg c is a restaurant that serves just one thing doubled eggs that is it they come in nineteen flavors there a bunch of different types of seasoning crab goo euro sri bacon chicken caesar lots of options there but that's it that's all you get wow they also have a double edged salad which i looked at and it kind of just looked like a bunch of double eggs chopped up and then put in a jar there weren't any like greens oh so it's pretty close to a traditional egg salad in that regard it just be eggs in there yeah it wasn't like double egg eggs chopped up on like you know a bed of spinach or lettuce like a cobb salad right it just egg yeah that's it that's all you get well okay and apparently this started as a a side hustle for founder rachel van bus when she was living in omaha nebraska just she was doing it out of her home in twenty seventeen she opened a food trailer with business partner lexi wi and now she has two restaurants in one storefront in the dallas area which is where mark cuban is so i'm thinking maybe part of his investment was he wants to eat double eggs yes that could be it so mark cuban actually went into a it was like a joint offer with barbara cork was two hundred fifty thousand dollars for a twenty percent stake so they each have a ten percent stake so it's not like you know mark even retired to go run a double eggs restaurant but this is the final investment on shark tank which i think is pretty fun yeah that's pretty fun i mean it close to home in dallas he owns i think part of the dallas mavericks as well he does yeah so he can enjoy his basketball games with some devil eggs perhaps in his utopia of dallas texas but this purchase is an interesting one because economically eggs have been kind of a weird thing for the past year inflation has gotten them there's been egg shortages there's been some problems is it like a sustainable business to just serve eggs even the egg salad as you said is just eggs so do you think it has legs here is that a good thing well you know this is something that i have a lot of questions about as i was pondering this here's the thing there are a lot of like niche places that to only do one thing you think about crumble cookies oh yeah crumble cookies has a couple other desserts but it's mostly cookies just cookies right and they're doing really well i think they made over a billion dollars in sales they sold it over three hundred million cookies and i would never go to crumble cookie order a cookie because i don't like to eat a lot of sugar and i'm seeing this double egg thing as potentially appealing to a lot of younger american consumers because we know something about them we know that they are shifting towards on the go snacks instead of full meals and we know that they're really into protein sarah just had a story and she cited something it was sixty three percent of us consumers want protein snacks and there is no greater protein snack really than in a devil egg an egg is a lot of protein and a double leg is a much more enjoyable way to eat a hard boiled egg than by itself true so i could see somebody who's kind of like on the go being like what am gonna go get you know what i'll get a four pack of devil eggs and a bunch of different flavors that sounds nice i could see that taking off i could see it working at airports mh i could kind of see it working maybe in sort of like promenade or theme parks or places where people are just really looking for something i that is not all sugar yeah i could see it working now the question is will people pay the extra money for a prem made double egg when you can just buy a hard boiled egg at the gas station that remains to be seen especially as egg prices are rising but i think in terms of like a niche thing it it actually is a pretty clever idea yeah i mean when you think about it kinda like your point with crumble and also you know like another company i'd point to is insomnia cookies you could easily go into a grocery store or a deli and get a cookie that's like already packaged for a lot less money but maybe you won't maybe you'll go there and buy a fresh one that was just made and also given like the amount of flavors nineteen i think you said yeah there's a lot of variety it sounds like within the devil to egg universe that i i was not privy to before today so dan seems very exciting are they profitable how are they doing monet momentarily so they have said that they are profitable and now granted they only have you know the couple locations but double a c claims to have made over one point two million in revenue in twenty twenty for and to already have interest from potential franchisees so there's a lot of expansion there k and you know i would tend to believe that they probably are profitable because they are charging more than you know they would cost to make a dozen of these yourselves but they also have really low overhead it's not a complicated menu it doesn't take a long time to train a person to make these so you can make them in bulk sure so i said in the email that i think double eggs are easy to make and i do i maintain this but a reader was like actually they're not and i understand i i i think i see his point because for me somebody who likes to cook and bake all of the time not a complicated endeavor okay but also i think his point is it's a lot of work for something that's kind of small but if you're these things in bulk which is how i would do that i mean i would boil like twenty four eggs at a time yeah gotta do that you know it it does get easier i think the hardest part is probably if you're doing the fancy piping and you're not disputing the thing back yeah but i think if you're doing that with petition in a place that is only set to make double holdings eggs and you only do this one thing all day long it's probably gonna get very very quick yeah so you're not spending a lot of money on overhead you're not a diner that serves breakfast lunch dinner and also for some reason burritos i see those a lot this is very simple breakfast burrito is making ways and diners we could leave that for another day but you're correct yes yes yeah this makes sense i mean i i think to have just a single output no matter of the amount of flavors that it has is always gonna make a business more efficient in the food space because don't have to think about other you don't have to think about other supplies you only have to think about your egg supply and various ingredients to em embellished that egg supply so yeah it it seems like a good low margin kind of deal right there you can make a lot of profit on mh not a ton of resources outside of just eggs so seems like an okay idea like to see it scale to other cities as well to see you know maybe we got a devil egg hut here in new york or something like yeah meet you i would love one of these i would actually go to it and the thing is i didn't think i like double eggs that much but ever since i did the story the other day i was like i would like one i would like a devil egg i'm thinking about making sense yeah no i agree i rarely crave them but if they are at an event they will all be coming with me that day yes alright that's gonna do it for us today thanks for tuning into the house daily show pro prop part of hubspot media our editor is robert hart and our executive producer is darren clark we've got a lot more tech business coverage in our newsletter if you're not subscribed go get signed up with the hustle dot c slash email and follow us on instagram at thousand daily will see you later it's hard to remember now but the internet used to be fun i can't blame how easy it is to surf the net serves on long shadow breaking the internet we'll trace how a tool that once fueled democracy opposition activists organized the march on facebook became a weapon aimed at the very heart of it you're watching the unraveling of our democracy see it right now from long lead and p x this is long shadow breaking the internet subscribe now wherever you get your podcasts okay look side hustle fail when they consume all of your time i mean every single bit of it the pros though work smarter with ai doing all the heavy lifting to help you out we just drop the side hustle accelerator database you can search your exact problem for your side hustle grab the perfect prompt and get results if you're struggling with marketing content and customer service it's all solved in just seconds this isn't just another tool guys it's your unfair advantage in a spreadsheet so stop asking ai the wrong questions and start scaling with what actually works you can get it for free in the link in our show notes and you can stop right now actually why you take a look down at those show notes and tap the link you don't wanna sleep on this

hubspot makes impossible growth impossibly easy for their customers and here's the perfect example more house college needed to reach new students with fresh engaging content but with a massive nine hundred page website yeah even the tiniest updates took thirty minutes to publish breeze hubspot collection of ai tools helped them write and optimize their content in a fraction of the time the results thirty percent more page views and visitors now spend twenty seven percent more time on their site if you're ready for impossible growth like this you can visit hubspot dot com hey good morning everyone it's tuesday july eighth on i'm mark dent here with the juliet bennett r and this is the hustle daily show today we are talking about dupes that is dupe products they provide comparable quality to big name brands at cheaper prices and they've contributed to some significantly declining business for lulu le so now the at leisure giant is doing something drastic to solve it's stupid problem suing costco we're gonna talk about that but first will give you the hits and headlines in today's tech and business news let's begin with big tech maybe the biggest of tech actually will there be a new tiktok it's possible that the ongoing tiktok band drama may resolve itself with a new separate app that's because there's reportedly an agreement according to the information for sale to non chinese investors in place including oracle and this deal would leave byte dance with a minority stake and involving a new version of the video platform that would come out on september fifth president trump's latest extension on the tiktok ban expires in mid september speaking of the president more tariff news dropped on monday trump announced he'd sent letters to several countries warning them of new tariff rates by august first these rates are set at twenty five percent for japan and south korea and forty percent for countries like south africa and malaysia originally reciprocal tariffs of varying rates were scheduled to go into effect this wednesday against america's trading partners this tariff news sent stocks downward the major indexes were down by about one percent as of monday afternoon moving on to movie news jurassic world rebirth pulled in one hundred forty seven point three million dollars in its north american opening weekend now that's enough to be a summer hit but it's less than previous entries in the franchise when accounting for its a longer holiday weekend release and also if you account for inflation jurassic park one forever and speaking of weekends in the uk weekends could be getting longer that is if a new study has a large enough impact this study tracked seventeen uk companies that tested a four day work all seventeen of them that tried the policy kept it in place and of the four companies that shared revenue data three saw revenue rise during the trial and finally let's end with some housing market numbers according to the wall street journal via the national association of realtors the number of first time home buyers last year clocked in at one point one million that's about four hundred thousand less than in two thousand twenty three and roughly half of the historical norm so we're talking some very low numbers and judging by early estimates two thousand twenty five could have even fewer first time home buyers this trend does bode well for one group however landlords the wall street journal predicts rising rents in the near future hey everybody i'm listening to this great podcast lately it's called latin x and power hosted by tai fernandez and it's brought to you by the hubspot podcast network the audio destination for business professional so latin power is a podcast that features interviews with top level executives entrepreneurs and innovators from latin america aiming to d the tech industry by providing listeners with an insider perspective and insights from latin american leaders who have succeeded in their fields a lot of great episodes on this one my personal favorite recently was an episode with isabel alvarez who is a graphic designer that designs cookbook she has fifteen years of experience blending editorial design branding and experiential design she really views design as a catalyst for meaningful social change so i think this is a great episode to get you going with this show you can listen to latin power wherever you get your podcast okay let's move on to the main story lulu versus the dupes lulu has a dupe problem and it's going to relatively extreme measures to confront it but first juliet what is a dupe the dupe is a product that is an affordable version of a high end product so if you think of something like drunk elephant right that's like a high end skincare line or tac or like a really nice high end fragrance that cost like two hundred fifty dollars a bottle a dupe is something that is very similar it's made with similar ingredients it smells the same in the case of apparel it would be something that has a similar design and is still of pretty high quality they're different from counterfeit counterfeit is like it's pretending to be a coach purse it's not a coach purse this is something that is not pretending to be the high end thing but it is a comparable version it's much cheaper and it's generally of pretty good quality yeah and it seems like they're having at least a little bit of a moment on tiktok and it's not like an an insanely viral trend but it's getting some numbers on there yeah there were three hundred twenty thousand videos take dupe as of may now that doesn't include things that our specific brand dupes so it would it include something that says drunk elephant tube makeup do skin skincare dupes fragrance dupe whatever dupe those hashtags are not included so it's probably actually a lot more but they're just very specific so you know it's having a big moment i think the reasons for that are pretty obvious we've got a lot of consumers who are conscious about their spending their anti consumerism and they're anti capitalist they wanna save money but they still want higher quality and they're done with sites like she and team where you know they're getting a lot of fast fashion that doesn't last long so they want something better but they're not willing to spend the big bucks the big bucks for something like lulu lemon which sounds like it is having a pretty substantial problem with dupes i was looking in at its stock price and it it's down by roughly a third this year so what's going on with that yeah and i'm not sure that that's entirely all dupes but it definitely doesn't help you know people are pulling back their budget in multiple sectors a lot of places are seeing something sales and at the same time we limit does have a lot of competitors in the space all v even if you're not looking at dupes i think a lot of people are buying their out here from target and places that are cheaper mh so a lot is going on but one of the biggest problems it's having right now at least according to a lawsuit that recently filed is that costco has been selling significantly cheaper versions of its designs so to give you an example of what the cost difference here is a pair of lulu lemons abc b men's pants retails for about a hundred thirty dollars but you can get a very similar pair of pants at costco for about twenty there's also a half zip pullover that costs about a hundred eighteen dollars that's a scuba hoodie is what lulu eleven calls it but at costco a very similar pullover is eight bucks and i think there are a lot of people who would much rather spend eight bucks on a hoodie and they do not care if it says lulu on it oh for sure and it just seems that costco is a great example of a company that whether you wanna call them dupes exactly but they're kirkland brand i mean they've just about everything you could ever want you know when it comes to food apparel you know just sort of any type of miscellaneous good you're looking for mh there's probably a kirkland brand for it so is there any way that this is like different or that lulu le might have an actual significant complaint here that isn't just like it's kirkland doing a kirkland thing so the points that lulu lemon raises and they've got a couple good points this is a forty nine page complaint and one of those pages contains this little gem which is that costco is actually using similar marketing language so tide water teal is a color that lulu eleven uses and that is the same color description for the costco product they couldn't even come up with a new color name so i think that's pretty clear evidence it's pretty lazy come on yeah i mean if you're thinking about what were you looking at when you're considering the design of this product the other point that lulu and raises is kirkland and many third party labels that various stores use they actually are the name brand that product is made in the same factory by the same company you'll see a lot of tiktok duke videos pointing that out i watched one where those woman was shopping at walmart and she was pointing out that a lot of the food that was from their value brand was actually made by the name brand in the same factory and would taste exactly the same had a lot of the same ingredients which was pretty much the same thing so that's something that happens and that's something that kirkland does and a lot of people try to guess that example would be like this snack cookie was actually made by the same people who make or know that would be an example i'm not saying that that's true but that would be example of the speculation with lulu lemon there actually was a reporter for wire cutter who compared a pair of costco abc men's pants to his lulu le pants and he actually thought that the construction was so similar that he contacted lulu and said are you the creator of these pants do you make these pants for costco for the kirkland brand lulu is not it's since been revealed that the manufacturers are like dan skin and jo and a lot of a lot of the lower cost brands that you would see at your department stores but here's what's interesting about this when he compared the two pair of pants yes they look the same they are remarkably similar right but he noted that a lot of the more thoughtful design elements at the lulu eleven pair pants have were missing from the costco pants and the fabric was different to the point where he found the lulu eleven pants to be much more comfortable have a lot more stretch and also felt that the fabric was so good that he could wear those pants to work and nobody would be like hey are you wearing a track pants s like he really professional looking and he did not feel the same way about the costco pants after you know he compared them side by side so i think there is some concern that lulu eleven is actually making pants of a lesser quality yeah you know so for them a brand that's like we're top of the line we innovate a lot of our designs everything is performance based i think there would be some concern that consumers are thinking oh they have like this knock off version that maybe they make and you can get it at kirkland for eight bucks and it's made by them but it's actually not made by them and at least according to this one review which was very thoughtful the knock off works yeah that's a really interesting thing to consider that consumers might just be thinking oh while lulu le just kinda making someone a little bit less expensive a little bit less quality for us because that is what a lot of brands have done there was a really interesting little note in this you know new york times story where christian dior was known for you know making cheaper versions and giving them to other brands even so i mean it it goes back a long way okay and those points that you just brought up also suggest that you know lou lemon does have some real grip here some pretty significant complaints but i take it that we wouldn't be having this conversation if there had been a lot of laws on the books that kind of make it hard to do dupes but yet here we are they're having to file a lawsuit what do legal experts say about all this is there really any chance that things change possibly you know the new york times structural to legal expert who said that us law is a little trickier than european law especially when it comes to a garment design protecting trademarks logos labels that's a lot easier if these garments had a logo on them that was suspiciously similar to lulu le it might be easier one of the jackets has a spider logo on because it's made by a company called spiders so there's pretty much no reason you would ever be confused with a lot of these trademark cases about customers are confused they might think they're buying this but they're really buying this so you know it's hard to say but this is not the only dupe lawsuit in play right now decker is actually suing costco also they are the parent company of ugg and they are accusing costco of selling a pretty much identical copy of an ugg slipper so you know i would be interested to see how this plays that in court because right now dupes is fun everyone loves you they're all about it people are clearly doing well making them but you know if there's some precedent in here where it's not okay to copy a design even if you are putting another logo on it and not calling it the same thing then that might really take bite out of this duke culture that we're seeing on tiktok and reddit however at the same time i have noticed a lot of the posts pertaining to the dupes now are not just comparing them they're people rushing up to costco go to hurry up and get them because the lawsuit has let them know that they exist and now they want them so you know i don't think it's gonna stop people from buying them if they're are available an on rush of dupes and when it costs you know roughly one tenth the amount of regular lulu lemon it makes sense why that's happening right now mh okay well juliet thank you so much and thank you everyone for tuning into the hustle daily show we're a proud part of the hubspot podcast network our editor today is robert hart and our executive producers darren clark we have a lot more tech in business coverage in our newsletter so if you're not subscribed to please go get signed up at the hustle dot c slash email and please follow us on instagram at the hustle daily and we'll see you tomorrow it's hard to remember now but the internet used to be fun i can't believe how easy it is to surf the net serves up on long shadow breaking the internet we'll trace how a tool that once fueled democracy opposition activists organize a march on facebook became a weapon aimed at the very heart of it you're watching the unraveling of our democracy it right now from long lead and p x this is long shadow breaking the internet subscribe now wherever you get your podcasts okay look side hustle fail when they consume all of your time i mean every single bit of it the pros though work smarter with ai doing all the heavy lifting to help you out we just drop the side hustle accelerator database you can search your exact problem for your side hustle grab the perfect prompt and get results if you're struggling with marketing content and customer service it's all solved in just seconds this isn't just another tool guys it's your unfair advantage in a spreadsheet so stop asking ai the wrong questions and start scaling with what actually works you can get it for free in the link in our show notes and you can stop right now actually why don't you take a look down at those show notes and tap the link you don't wanna sleep on this

hubspot makes impossible growth impossibly easy for their customers and here's the perfect example more house college needed to reach new students with fresh engaging content but with a massive nine hundred page website yeah even the tiniest updates took thirty minutes to publish breeze hubspot collection of ai tools helped them write and optimize their content in a fraction of the time the results thirty percent more page views and visitors now spend twenty seven percent more time on their site if you're ready for impossible growth like this you can visit hubspot dot com good morning everybody today is monday july seventh i'm john w with nick lo from the side hustle show podcast and this is the hustle daily show our guest today nick lo has interviewed over six hundred and seventy entrepreneurs about building side hustle with more than twelve years of experience in the space nick has become one of the leading is helping people identify launch and scale profitable side hustle that could transform their financial future and that's why he's here to tell us how you can do it too and we'll get to all that in a little bit but first let's give the news in business and tech let me turn it over to my friend mark dent for that take it away mark alright thank you john let's get started today by talking about tariffs because it is time to talk about them once again i know the deadline for the tariffs originally set by president donald trump in early april comes up this wednesday july ninth does that mean that these tariffs some of which are as high as seventy percent will kick in to that full extent finally well like everything else with these tariffs it's still pretty up in the air but on sunday trump treasury secretary scott be said the administration would be sending out letters telling countries that they need to make deals by august first or those high tariff rates could kick in in much lighter news summer win is back yes despite the fact that it's july home good stores are filling up with halloween themed stuff the trend apparently sparked by an episode of gravity falls in which characters trick or treat carve water and otherwise get spooky in the summer has increased in popularity over the past few years with retailers including michaels tj maxx and walmart getting in the mix moving on to aviation remember how southwest ended its two free check bags policy ceo bob jordan did an interview with the new york times explaining the rationale behind this decision jordan said that the idea behind canceling the free bags policy was about quote unquote choice he said it's part of a bigger picture strategy offering different flight tiers at various prices that come with different restrictions or perks anybody here i live in austin well you may have noticed jake the r has been walking around at the texas capital city in a cowboy hat while showering pass by with compliments such as quote you radiate that big boss energy my dude and quote that sleeveless plaid shirt is straight banging jake is actually a sixteen thousand dollar bi pedal ai powered robot developed by china's unitary it is a camera to navigate a powerful eight core cpu and two hours of battery life what exactly it's up to is unclear for the moment but it does wear a sticker that says in training onward to food del monte has declared bankruptcy citing economic challenges the one hundred thirty nine year old canned food company expects its products to remain on store shelves while it seeks a sale meanwhile amazon announced it will sunset its free streaming tv service free next month everything on freebie which launched six years ago will be folded into prime video a move that probably should've have been made oh i don't know six years ago probably jury duty and high school the ti and sara thing were both very good though and finally california is more than ever the place to be about sixty eight percent of all us startup investments over the first half of two thousand twenty five went to companies headquartered in california per crunch based news how quickly is california's is funding dominance growing the share was a still impressive forty nine percent two years ago but that is still a long way up just since then hey everybody i'm listening to this great podcast lately it's called latin x and power hosted by tai fernandez and it's brought to you by the hubspot podcast network the audio destination for business professionals so latin power is a podcast that features interviews with top level executives entrepreneurs and innovators from latin america aiming to d the tech industry by providing listeners with an insider perspective and insights from latin american leaders who have succeeded in their fields a lot of great episodes on this one my personal favorite recently was an episode with isabel alvarez who is a graphic designer that designs cookbook she has fifteen years of experience blending editorial design branding and experiential design she really views design as a catalyst for meaningful social change so i think this is a great episode to get you going with this show you can listen to latin power wherever you get your podcasts alright welcome to the show nick thanks for being here today john my pleasure yeah it's awesome to have you what a combo here we got the hustle daily and the side hustle show look at this so much hustling happening yeah to speak to all that in twenty twenty five the survey from lending tree found that nearly two and five americans about thirty eight percent have a side hustle seems like a significant portion of the population has something going on the side and you recently did an episode on seventeen side hustle trends for twenty twenty five what are you seeing as the hottest kind of opportunities right now in that area where we see most people starting is with a service based business and i think the reason for that is it's so low overhead you don't have a ton of equipment to buy in most cases you don't have to spend months or years building an audience you don't have to have a ton of upfront inventory investment you just go out figure out what problem you could solve go find a customer and you're kinda off to the races yeah now the pushback on that is like well i'm already trading time for money of my day job like do i really wanna do that all the side i i'm sure i build something with a little more scale and so that's not necessarily where people end up it's where a lot of people start i lot of people start i'll get their feet wet a little bit so what are some side hustle that you learned about recently that have kind of blown your mind or maybe things that you hadn't really thought about even monetizing before this is the best part of my job the stuff that comes across my desk the creative ways that people make money what are i all time favorites is devin rick she's a mom of four i wanna say in utah and she makes money teaching like video game classes online on this platform called out school cool we have this group social hour while log on we're try and beat this level in zelda or whatever it is she's got you know half a dozen of these that she's got out other teachers kinda like sub contracted teachers built this whole business around like kids in video games i like man if you could monetize this you could monetize just about anything that's pretty crazy yeah at first i thought you meant like making video games but it's not it so beating video games and playing video games a class for that that's pretty interesting i don't would have thought of that yeah so this is just kind of like a k through twelve group education platform where it's like a safe vetted online space for kids and a lot of this stuff is academic and it's like we'll teach you how to write better essays mh but there's some stuff on the fringes that are more fun was like well let's go play minecraft or let's yeah you know learn different languages or we'll have like a lego building hangout hour yeah there's some really cool stuff on there wow sounds like a lot fun i actually should get into that myself probably a more realistic path and like becoming the next twitch streamer probably actually yeah you know with so many side hustle options out there what's your framework for kinda helping people identify which one is right for them do you find that a lot of the time it's based off of somebody's passions or a problem that they have or is it something more than that even passions kinda like stress me out i don't know it's like if somebody asks what are you passionate about with the implication that i'm gonna somehow turn that into a business i think it's good to start from a point of interest expertise curiosity because you might be working at it for a long time and it's kind of the case of the side hustle show like what are you curious about you're curious what makes these businesses tick mh how'd you come up with that idea how'd you get your first customers how have you marketed it and growing that thing like that was interesting twelve years ago it's still super interesting today so it kinda keeps the fuel going but you can turn around and ask yourself well what do i ever get tired of talking about what do other people ask me for help with like there's some perceived expertise but then the secret sauce is mirroring that to a pain a problem in the marketplace something that people are willing to pay buddy mh to solve in their own lives and hopefully you can enter in and and provide the business solution in the middle yeah and and once you get that sort of idea maybe not a perfect idea but something that you can actually work on and potentially scale how do you validate it do you tend to see a lot of people bouncing their ideas off others or is it more of a trial and error or just give it a shot and if it doesn't work it doesn't work yeah a couple different ways the first is like if there are already other businesses doing the thing that you're thinking of doing like that's probably a good sign and early on it would be like we'll crap there's already somebody else doing it that idea has taken like scratch it off go on to the next thing right like no somebody else already has done the hard work of proving this out like if they have customers they moved a business for a while there's probably a good sign the second thing is like how can i validate this with real dollars as quickly and as afford as possible because you're gonna find once you hit that money milestone of your first dollar like now all of a sudden is real and now i gotta go deliver this product or service or whatever it is that i promised right and that can be really really motivating it can be scary but it could be like now i gotta go and do this without spending the months of upfront time on logo design and business cards and building the perfect websites like then how can we get cash in the door now just to prove that somebody willing to pay for it and then we'll worry about all that stuff later yeah totally getting that capital to start up is a big deal and you know i feel like you've talked to a lot of people that have scaled up their side hustle to like six seven figure businesses and i'm sure a lot of people have interest in doing something like that eventually with their side hustle so what do you think kind separates the people that really scale it up and the people that kind of stay at a few hundred dollars a month type range i mean you're gonna run up against the ceiling of your own ability your own comfort level daily or monthly as an entrepreneur entrepreneurial right it's your job to figure it out well how i gonna get over this hurdle how i gonna break through this obstacle and so it's kind of identifying the bottleneck what broke at two hundred dollars a month what broke at a thousand dollars a month what broke it ten thousand dollars a month it's almost kind playing whack a mole in a way as the ceo as the entrepreneur it's like well i gotta figure out how to fix that build some systems around it a friend of mine called it the laptop test is in once you close your laptop how long does this business really last how long does something breaks it it's really eye opening we're like wow okay what are the systems and team members that i've put in place so it can scale and run hopefully without me where are you kind of are playing ceo puppet master rather than all day every day in the business yeah no systems are vastly important if you can set up a good team for yourself and good people or good automation for yourself and be able to actually separate from the business at some point that is pretty ideal i'm sure you can only burn the candle at both ends for so long yeah there's this concept like in fitness of sprint and rest it's like you can sprint for a short period of time but it's not sustainable to do for a long time before burn out right so it's the same thing in business so you're there's gonna be periods especially in the startup up phase of sprint and working hard but hopefully there's a light at the end of the tunnel and you're gonna be able to come up for air because otherwise you're just gonna burn yourself out and i think that gets us into another part of this the side hustle game has transformed a lot obviously in the past few years but one of the big transforming components of it is artificial intelligence right maybe now people have a lot more ability to start a side hustle or have a virtual assistant that can help them plan and code or do whatever they need to do so how do you think ai has really changed the side hustle game yeah the opening of the toolbox to more and more entrepreneurs it's really interesting and we've seen from a lot of guests i use chat ep as kind of my silent partner my c cofounder and like bouncing an ideas off it all day long it's building me my marketing plan my go to market plan it's really interesting what you can do we've had people build complete apps of you know software web tools and stuff that they go out and sell for monthly recurring revenue you based on these ai assisted coding that's going on the downside to it is just kind of eating the low end of the market for a lot of traditional side hustle services web design graphic design transcription translation freelance writing like at the low end of this stuff it's all being replaced by ai which is not great for those people they really need to go up market and elevate their skills so they can get bigger and better clients yeah it is really a double edged sword in that regard where instead of hiring somebody you can just throw this ai in there and get it to check your writing make edits to do whatever you wanted to do but yeah there is also that component of people in those positions are now kind of losing work but the appeal of side hustle i find is more kind of freedom and flexibility doing something with your own business and your own time they can also become pretty all consuming how would you recover from burnout if you do get into that ultra sprint phase yeah try to make it a short term as possible and we've had some people like look i know it's gonna be three months but i'm confident at the end of that three months i can replace my day job salary and they kinda like okay it's gonna suck and i know what's it's gonna suck but we can get through it ultimately like you're trying to set yourself up like luke brian like do what you love but call it work you know i know this old song and trying to build the systems and the practice around the business in a sustainable way where it takes a somewhat predictable amount of time and recognizing and this is something i'm guilty there's always more ideas than there are hours in the day the two doodle list never ends there's always gonna be something else i could be working on and this is the danger of hosting the show too because every time i hang up being like well dang why don't i have a vending machine business or why aren't i teaching video games on this it's like it's very bad for the shiny object syndrome in me yeah yeah totally and there's that but trying to recognize it's gonna be there tomorrow right you know trying to practice some level of work like ballots to say like done all have to get done today really and last thing kinda on that subject i wanted to talk about maybe a top three if you have it of things that you would most recommend or side hustle that could be most attractive to somebody that's looking to try them out yeah so in the long run you try to find something that is you know quote unquote passive at least time leverage just that kinda d your hours from the dollars that are coming in mh and so long run i'm trying to think of a business model that can get you there and we see people do it with service based businesses maybe they go down the agency route where they've got other people like doing the fulfillment and they're playing marketer or sales or operations we've seen people do it with product based businesses mh it could be a digital product which lends itself really really well to scale like create the thing once sell it over and over again but we see people do it with physical products everything from sunglasses for first responders to you know creatively designed golf gloves to like a little strap that goes on the back of your kindle e reader all sorts of stuff and then the third way would be kind of like the content based business the audience based business mh is where a lot of people wanna play i wanna be youtuber i wanna be a tiktok i wanna be the influencer and that could be great like if you can make that in your business that's fantastic but usually it drives a different form of monetization maybe it's advertising revenue affiliate partnerships or product or service if you crack the code of getting people to pay attention to you all of a sudden the playbook really opens up and you can monetize in a bunch of different ways totally cool nick well thank you so much for all your wisdom i'm sure hearing pitches and hearing side hustle every day really helps with that so thank you so much for sharing some of that knowledge with us today you bet and hopefully see you again next time cheers big thanks to nick and big thanks to you for listening to us today thanks for tuning into the hustle daily ago we're a proud part of hubspot media our editor is robert hart and our executive producer is darren clark we've got a lot more tech business coverage in our newsletter if you're not subscribed what are you doing go sign up at the hustle dot c slash email and follow us on instagram at the hustle dale it's hard to remember now but the internet used to be fun i can't believe how easy it is to serve the net serves up on long shadow breaking the internet will trace how a tool that once fueled democracy opposition activists organized the march on facebook became a weapon aimed at the very heart of it you're watching the unraveling of our proceed it right now from long lead and p this is long shadow breaking the internet subscribe now wherever you get your podcasts okay look side hustle fail when they consume all of your time i mean every single bit of it the pros though work smarter with ai doing all the heavy lifting to help you out we just drop the side hustle accelerator database you can search your exact problem for your side hustle grab the perfect prompt and get results if you're struggling with marketing content and customer service it's all solved in just seconds this isn't just another tool guys it's your unfair advantage in a spreadsheet so stop asking ai the wrong questions and start scaling with what actually works you can get it for free in the link in our show notes and you can stop right now actually why don't you take a look down at those show notes and tap the link you don't wanna sleep on this

inbound season is upon us everybody so get ready because inbound twenty twenty five will bring together once again the brightest minds in marketing sales and ai to explore what's now and what's next the event is taking place september third to fifth at the moscow center in san francisco and this three day experience features inspiring keynote tactical breakout sessions exclusive product reveals and immersive workshops you can network with industry leaders and gain actionable insights to implement immediately for your company the speakers we got on the docket are great this year we got amy poe marquez brown sean evans glenn doyle and many others you're not gonna wanna miss it you can go to inbound dot com slash register to secure your spot at inbound twenty twenty five good morning everybody it's wednesday july second i'm john w miguel with juliet bennett r and this is the hustle daily show are you one of the thirty seven percent of american adults not getting enough sleep today we're diving into eight sleep new pod five system which is a six thousand dollar ai powered sleep solution that promises a good night of sleep so what's the sleep economy like nowadays and is the system worth the big price tag we're gonna dive deep into that main story right now so today we're talking about sleep there's been some advancements in the sleep tech industry and it seems like it's booming right now so julia can you talk to me a bit about what exactly is going on in the sleep tech industry and why they wanna charge people a lot of money to go to bed oh just everything everything is happening this is a pretty big industry i found a lot of numbers on it they truly did range from like in the millions to in the billions as to what the size of this market is worth wow depending on whether you're talking about sleep products on the whole is may include gum in melatonin and thc drinks or you're just talking about tech which is like wearables but it's a big industry and it's growing because we're all exhausted the latest cdc data i could find some twenty twenty two which said about thirty seven percent of you us adults are not getting enough sleep and wow i can only imagine that could be what it's like now in the year twenty twenty five where things have gotten so much less stressful right no yeah i'm sure we are all sleeping even worse than four so given that sleeping in drinking enough water are like the two most important things that doctors are like if you can't do anything else could you at least please do this for your health they have so many ramifications so people are really trying to hack the very simple concept of sleep by essentially optimizing their bedrooms and optimizing everything they can to try to get peaceful rest eight hours of sleep mh and that's kinda manifested in a lot of ways as you're were saying up top that kinda of manifested in you know better pillows more thc drinks more bedtime gum but it's also kinda manifested into a big tech way in terms of things that help you sleep easier so can we talk about that the kind of advanced tech option for sleeping better so the most advanced and most expensive sleep option i could find aside from like extended days at sleep hotels which do exist is this sleeping system by a company called eat sleep this company is not new but it just launched a few new things and one of those things is pod five which is billing as the first fully immersive sleep system it is not a bed you might think it's a bed right no it's several thousand dollars but it's not a bed you have to bring your own bed okay this is just a this is just accessories to your bed but they are very interesting in now as with everything they are ai powered so if you want the full sleep system you will get a hydro powered mattress cover that automatically adjusts temperature and you know if you're talking about a queen sized blanket it's going to do that on both sides so if you're a couple and one of yours always hot in one of you would always call cold cold it adjust to your preferences which is ideal wow there's also a base for your mattress that can change elevation so for example if it detects that you're sn it's going to raise your hat up a little bit to open up your airways and improve your breathing this is so funny new to the system is a temperature controlled blanket it is much like the mattress cover they sink together only you know now it's more immersive i guess you're fully burrito in the system and surround sounds speakers integrated into the base that can play a variety of things for you including white noise brown noise soothing sounds and guide meditations developed in partnership with neuroscientist doctor andrew hub oh so a lot okay and on top of all of this there are sensors embedded in the cover that are going to be tracking everything about you as you sleep your heart rate breathing sleep stages and more so it's going to be detecting things about you and making automatic adjustments depending on what's going on so let's say you only wanna listen to white noise for x amount of time you can program that it'll know that it'll turn it off for you mh and then it can wake you up by gently adjusting the temperature and maybe playing you some soothing noises and also vibrating apparently so instead of a bla alarm you have this very gentle wake cycle interesting just as nature intended except it's not nature at all it is six thousand dollars worth of time because to have this entire system you will need to spend over six thousand dollars plus an annual subscription that starts at one hundred ninety nine dollars per year now if you just want the cover and the hub that powers the cover that's more like three grand but the whole thing six grand plus this six grand plus they had to sneak the annual subscription in there that's how they do it of course of course because you've got the app that has all your sleep data so you know exactly when you were in rm yes oh god horrible yeah okay this is fascinating because we've talked about on the show before they're being a big interest in sleep lately right like the sleep hotels you mentioned right sleep vacations gen z jen alpha wants to sleep more we get that we understand that mh seems like all these things that were mentioned that come in this package could be purchased individually via other things so like you know you're sleep tracking apple watch or a ring i guess surround sound speakers you could buy on your own temperature control blanket i'm sure you can get that somewhere it seems like they're kind of batch every component that somebody would buy in order to get a really really really knockout out night of sleep and just kinda packaging them together and charging six thousand dollars for them there is some pretty interesting technology in here right like the dual heating and cooling i feel like that's kinda new i like that yeah that's pretty cool and like moving your head when it feels like it needs to move your head is interesting but is it worth it it seems like a lot of bells of whistles some things maybe you can get alternatively outside of this some things that are a bit unique but what are the reviews i do people like this how's is it going for them so this new system is very new and there are not very many comprehensive reviews because there have not been very many nights of sleep to be had with it sure but i will say that all the reviews i have found of previous systems with the mattress cover and the base have been overwhelmingly positive in fact there is a great review in the verge from victoria song where she actually hates how much she likes the bed because it costs so much money just like this this is great and terrible so i think yes i think people like this system but i also think do you need this system well are you a high performance athlete training for the olympics are you brian johnson or someone else who's like trying to bio hack everything in your life then maybe not i think you could probably do with a a fitbit that tells you if you got a good night's sleep to see how you're doing and maybe a few upgrades to your mattress you're bedding a sleep mask i think goes a really long way yeah sure for me there's no optimization that could happen without somehow also optimizing my cat which is the largest barrier to my sleep so i think you have to consider is my lifestyle the kind of lifestyle that would benefit from this me no what is this bed gonna did you make my cat calm down obviously not he he's still gonna party at three am a pointless endeavor listen there could be a feature to cradle that cat eventually yeah my cat mouth tape i hear you could you could try that yeah some soothing bird noises yeah yeah it seems like reviews are generally positive by tech reviewers right but i guess people though are interested to spend more on sleep as we kinda noted previously because right once again the sleep mask the mouth tape the better pillars people are investing in this and it seems like they're investing a lot in it they're investing more than you would think but not six thousand dollars so cn survey found that us adults would be willing to spend an average of seventy eight bucks a month which comes out to about nine hundred thirty six dollars annually to improve their sleep however you know when you think about that figure you subtract the subscription fee to the eight sleep pod you would pay off the eight sleep in about eight years that's long basically this is the amount of money you're willing to spend sure and then my question is in eight years is this still a company that supports this app that supports all this tech or now are we on to you know sleep pod eleven with all the new bells and whistles that you really wanna you know now you gotta spend an extra ten thousand dollars right are we all just gonna be in like sensory deprivation tanks right after for a few years that's true but you know in those eight years probably look like three years younger from all the sleep you're getting maybe yeah i think if you hydrated and had a good sleep it would probably be beneficial to you i don't know if you need this much it's kind of like i think we've even talked about this before instagram started showing me these videos of people shedding morning shed it was called these people that put on the mouth tape but and then also a bunch of like weird masks and heat curl and spray themselves with magnesium spray and then like have like a sleepy girl mock tail list and i hate all of it and yet i watched like twenty of them i was like what are these people doing then i found some post from dermatologists who were like yeah most of this is unnecessary you do not need to cocoon yourself in hydrating the layers to have good skin this is a little much and i think maybe this bed for the average person is a little much unless you know you really are someone who sleeps with someone who sn constantly and who has a vastly different temperature range than you then perhaps it would be worth work the spend to get your spouse to shut the heck up and to stop stealing your blanket i don't know but i think it's just kind of an interesting example of how far people will go to have an ideal sleep and probably a good boom for all of the other startups here who have more affordable products whether that's a side sleeper headphone sleep tracking wearables i don't know i like a good melatonin gummy every once in a while yeah so listen everybody has their things this is just the highest end thing that you could possibly purchase to get a decent night of sleep and i don't imagine many will purchase it but i do imagine that there will be a select few that will go out there and look for something like this so it is an interesting option i think we'll see how the tech progresses in the years to come and i don't know who knows maybe this will be like just the standard for everybody in ten or twenty years yeah i would go to a sleep hotel that had this bed and sleep in for one night i would do that yeah i would try it out for a night yeah that'd be nice actually yeah good field trips and then if i woke up feeling amazing it'd i'd be really disappointed yeah exactly alright that's gonna do it for us today thank you for tuning into the hustle daily show everybody we will be dark for the rest of the week for for the july holiday so enjoy your holiday we will be back on monday we're a proud part of hubspot media our editor is robert hart and our executive producer is darren clark we've got a lot more taken business coverage in our newsletter if you're not subscribed go sign up the hustle dot c slash email and follow us on instagram at the hustle daily we'll see you later okay look side hustle fail when they consume all of your time i mean every single bit of it the pros though work smarter with ai doing all the heavy lifting to help you out we just drop the side hustle accelerator database you can search your exact pro problem for your side hustle grab the perfect prompt and get results if you're struggling with marketing content and customer service it's all solved in just seconds this isn't just another tool guys it's your unfair advantage in a spreadsheet so stop asking ai the wrong questions and start scaling with what actually works you can get it for free in the link in our show notes and you can stop right now actually you why don't you to take a look down at those show notes and tap a link you don't wanna sleep on this

inbound season is upon us everybody so get ready because inbound twenty twenty five will bring together once again the brightest minds in marketing sales and ai to explore what's now and what's next the event is taking place september third to fifth at the moscow center in san francisco and this three day experience features inspiring keynote tactical breakout sessions exclusive product reveals and immersive workshops you can network with industry leaders and gain actionable insights to implement immediately for your company the speakers we got on the docket are great this year we got amy poe marquez brown sean evans glenn doyle and many others you're not gonna wanna miss it you can go to inbound dot com slash register to secure your spot at inbound twenty twenty five good morning everybody today's tuesday july first i'm john w with juliet bennett r and this is the hustle daily show with everyone on the tech and ai wave starbucks is taking a bit of a different approach the coffee company that we all know is not replacing people with tech and is holding that idea strong so how is starbucks investing more in its people let's dive deeper today we'll chat about that right now alright so we're talking starbucks today and its new non tech focused strategy surprisingly so juliet what is starbucks up to starbucks is just really going full steam had on this where the old starbucks now and this is something we've talked about before mh i think we've not necessarily done a deep dive into starbucks but i think in the snippets in the newsletter we've talked about some changes they're making where for a while i think starbucks was really onboard this we're a mobile ordering super fast whenever you want come and get it and then get out rooms yes with pickups oh yeah and i feel like there is a breaking point when i was in college you could go to a starbucks order a drip coffee and sit down for an hour and do your homework and leave while listening to very inexpensive acoustic guitar covers of other songs maybe you'd meet someone maybe you wouldn't maybe i don't know but it did you know it was cozy and then i would say post pandemic every time i went to a starbucks it was waiting in line for a really long time because the person in front of me had ordered a sixteen syrup tiktok invention you needed the code for the bathroom i don't know it just kinda sucked yeah and i'm not a person that goes to starbucks a lot but you know usually when you're traveling you wind up at a starbucks and so i think most people have noticed or did notice this vibe shift yes and now they're going back right we've got this new ceo and he's all about cozy times right they have ceo brian nic and he's all about getting them back to the way they were and that's kind of point blank like mh starbucks as you mentioned now has this kind of almost coffee factory mh look instead of a cozy cafe type of look and they wanna kind of be that community hub again and of course you can't be that community hub if your business run on ai and robotics so it seems like to your point they're moving away from ai robotics all that stuff while fast food is kind of doubling down on ai and robotics starbucks seems to be backing up a little bit to a place that's a little more human yeah and it's what's interesting to me about this is we've seen these changes happening little little tiny changes so it's like okay all of a sudden we've decided that our employees are going to write little doodle and messages to you on your cups again mh and we're bringing back the ceramic mugs just in case you wanna hang out for a little bit yeah and they recently did a dress code shift where used to be they could wear whatever they wanted under the green apron and now they're like no we want you to wear dark neutral colors so the green apron stands out so people like oh that's the person that works at starbucks that's the human that i see every morning but what is interesting to me is that nickel just kinda came out and said yeah all of this automation and you know reducing head counts that didn't work out for us a mistake we actually need more people we're gonna hire more human barista does which is kind of the opposite of what a lot of other fast food company in fast casual change are doing right now yes they wanna cut the costs get the robot in and make people order at kiosks and i think we're simultaneously seeing yes that can be speed yes that does sometimes work but we're also seeing a lot of customer frustration if you read reviews of kiosks and taco bells mcdonald's people are complaining that they don't work that they're glitch same with the ai robots that are taking orders and wendy's drive throughs people are always complaining about them yeah and it seems like they wanted to avoid that whole complaint cycle here mh but they wouldn't be doing this if it wasn't for a good business reason right they wouldn't just come out here and say oh no more ai no more robotics if it was gonna completely revolutionize and make them a lot more money so why are they going to a more human standpoint is that you think going to bring in the big bucks for starbucks well it's interesting is that there's not a lot of numbers here except that we know that starbucks is struggling with slipping sales and has been in terms of testing and piloting new things they did around the time that brian nichols came on which was summer ish of twenty twenty four they were trying a couple new things and they launched this affordable pairing menu mh it was like get a coffee and a danish or whatever and then they have this thing called the siren craft system which is a lot of operational and tech updates designed to shave literally seconds off of making a drink and that's something we have talked about before right but at the same time they're also testing increased labor so more barista more staff and that apparently has worked out because it has since expanded to three thousand stores we don't have the numbers on that but a few things i was able to find out starbucks is pausing the deployment of siren craft system they've tested in uk stores freshly baked offerings as opposed to just i don't know stuff in plastic wrap that people seem to like but the thing i found the most interesting is that quick service restaurant magazine which of course seems to be the expert on these things obviously found that most of starbucks online complaints that were overwhelmingly negative could be traced two mobile ordering and this was people in its cafe who are frustrated with them being out of stuff because people were using as i said the sixteen syrup tiktok mentions that they had to wait longer for people who had these big complicated pickup drive thru orders and that the staff was frustrated and that reflected on the service they received when they were waiting in line for something for our simpler you know it reminds me of being a bartender and someone coming up and being like can i get nine of these really complicated shots yeah oh my god you make sense can i get nine espresso martini right and then it's always like just one more actually just just my friend just guy can i just get one more even though you already made them in the cup guy and then the guy behind you is like i just want a bud light he's just not even draft like just a can exactly so it's like i feel that i get that and so it's like yeah all of a sudden starbucks is irritating you don't wanna go there it's supposed to be this place you go you get a quick coffee leave but does it matter if you you know have all of this tech to shave three seconds off of how long it takes when you've got this mobile ordering system and that's was really gum things up so that is kind of an interesting nugget there and you know this guy really might be onto to something i've never used a starbucks app because it doesn't work for me half time you know so if you've got people frustrated with the tech and they're like oh my god i just wanna go in and get a latte from a person who why can't i do that adam you know or i just wanna get a cup of coffee meet my friend and hang out for an hour before my flight leaves like that's what starbucks is for you know right i just wanna have study group for two hours that's what starbucks is for and he might really be on to something yeah no i i definitely equate this a lot to what's happening in some other areas and industries like with for example barnes and noble with barnes and noble transformed to this pretty like corporate bookstore type of situation and left behind their cozy nature and now in the past year or two they've reverted completely to welcoming people in letting you stay letting you read the book that you're gonna buy having cafes mh and they've kind of brought back this small town sort of feeling even though it's a big corporation that owns it so very similarly i think it's people are looking for more of a place that they can sit down and hang out at rather than just in and out coffee spot it seems so yeah all four of this change i think it's pretty smart honestly considering how other businesses are kind of gun h on ai and tech and they're just kinda like yeah we got more people we got people they'll make your coffee it'll be nice they'll say hello i'm really curious to see how it pans up because i do feel like post pandemic if you go to a bookstore and it's just irritating and their inventory is low and there's no one to help you find the you're gonna buy it on amazon yeah oh you may now i want to buy it on amazon but i have bought books on amazon because i've got into bookstores that are short staffed no one can find what i'm looking for i've gotta get this one book and i'm like we'll screw it i'll buy it on amazon do i wanna do that yeah no and same with coffee houses i think a lot of people learned how to make fancy coffee during the pandemic and if it's not a pleasant experience they will make it at home so right i'm curious to see how it goes and by the way chipotle recently revealed its new strategies asking employees to smile so i don't know i guess we want people well brian is the former ceo of chipotle so maybe something trickled down over there for them too perhaps yeah that's also very interesting this ro of ceo yeah and i think he also came from taco about before that so oh wow yeah he's been out tear mh alright and that'll do it for us today thanks for tuning into the hustle daily show a proud part of hubspot media our editor is robert hart and our executive producer is darren clark we've got a lot more ticket of business coverage in our newsletter if you're not subscribed go get yourself signed up with hustle dot c slash email and follow us on instagram at sold daily we will see later okay look side hustle fail when they consume all of your time i mean every single bit of it the pros though work smarter with ai doing all the heavy lifting to help you out we just drop the side hustle accelerator database you can search your exact problem for your side hustle grab the perfect prompt and get results if you're struggling with marketing content and customer service it's all solved in just seconds this isn't just another tool guys it's your unfair advantage in a spreadsheet so stop asking ai the wrong questions and start scaling with what actually works you can get it for free in the link in our show notes and you can stop right now actually why don't you take a look down at those show notes and tap the link you don't wanna sleep on this

inbound season is upon us everybody so get ready because inbound twenty twenty five will bring together once again the brightest minds in marketing sales and ai to explore what's now and what's next the event is taking place september third to fifth at the moscow center in san francisco and this three day experience features inspiring keynote tactical breakout sessions exclusive product reveals and immersive workshops you can network with industry leaders and gain actionable insights to implement immediately for your company the speakers we got on the docket are great this year we got amy poe marquez brown sean evans glenn doyle and many others you're not gonna wanna miss it you can go to inbound dot com slash register to secure your spot at inbound twenty twenty five good morning everybody today is monday june t i'm john w here with a bunch of founders and ceos and this is the hustle daily show so about a month ago i got to attend the o o summit in new york city the summit organized by a previous guest on the show andrew young was filled with founders and ceos from startups around the country and i got to ask them what is a daily challenge they face as a founder or ceo and how they move past it today's episode is a roundup up of their responses so if you're a founder or have ever thought about starting a company stay tuned because these responses are packed with some value located off with the founder of outsourced cfo a company that does exactly what its title says so from founders and ceos themselves here are challenges they face every day and how they overcome them we've got a really good leadership team that heads up every single department in the organization by now so i guess for me to make sure that they are happy on track engaged doing the street based work and or un uncheck from any hurdles that they can just do what they need to do at the base of their ability that's really the thing and whatever comes in their way that hindu green that is probably my biggest problem so i'm figuring out how to move that away continuously is it's it's probably it managing the leadership team and get didn't to maximize what they're doing next we're talking to the ceo of fuel finance a company that helps startups and smb effectively manage their financials i think the most important challenge that we have like how to spend our resources in the most efficient way and like when i talk about resources i mean not just like money but also time for our team members so i think my job is like being c is always understand we span this time and resources in the greatest way like to get the highest array out of that and i think this is the challenge that like actually we have every day just to choose what we do and what we not do from there we go to the founder of time century ai a company that does your work timesheet sheets for you that would be nice i say that the thing i struggle with daily is that there's just so much to do and like i said i love running the business i enjoy it that's what gets me through it is that i enjoy the work but what's really hard is when you enjoy the work you like the company you have to not burn yourself out and when the amount of work is like substantially infinite it never ends how do you not bring yourself out because like you can work till eight or you can work till ten or you can work till one you can pound red bull or you could take out or all whatever that you could do all kinds of things right to like over the short term like really power through something but how do you power through something that takes five years ten years to put together like you can't power through you're trying to maximize the amount of energy time focus that you can spend on it well also having a life outside of it there's no way to complete all the tasks on your to do list it's actually if you physically mentally psychologically impossible to complete your to do list no matter how hard to try no matter what system you implement so you have to accept that not everything is gonna get done next let's hear from the founder of career span a company that helps you land interviews by telling your story here's what their founder had to say about daily challenges and solutions i think that there's so many things you can do and so many pathways you can take that i think the thing i struggle with the most is that concept of opportunity cost really assessing it correctly you know like come i mean just kinda like my previous example right if i commit time to this i don't have time to do that and me and my c cofounder bar very nature a little bit like labrador ish we'll just like chase after whatever but i think that more recently we've been trying to do some more daily reflections and try to track the actual decisions that we make and you know try to line that up with like how much time that we have so i think better tracking and sort of more self awareness or the answer yeah it's all about time management i feel like totally it's totally next the founder of otis ai a company that helps e commerce businesses launch digital ad campaigns i think it's really juggling the limited bandwidth that i have as a founder wearing a lot of hats means that you'd have to focus on a lot of different aspects of the business at once while also balancing the need to scale and grow the team so what i've been doing better is really del and teaming up with the right kinds of people in the business that can own different aspects of it and it's always a balance between me being spread across a bunch of different functional areas and also and ent my team to do the right job we're gonna talk to the founder of sq labs now a startup up that creates an ai digital twin to post content for you so if challenge i face every day it's time management most is my opinion so for myself i do a lot of time blocking and i use linear a lot to know what on my my daily task to do and then actually i use our own agents to do my social media do my medications for me as well and we move on to the founder of mee a company that allows anyone to create board games and card games i would say is knowing where to put your time mh right because there's so many different things operationally functionally that you have to be doing as a founder so i think it's knowing where to focus whether it's sales marketing supporting engineering and product yeah that's a challenge onto the founder of libby health a company that focuses on creating mental wellness for its users so i think we're i'm in the mental wellness space but i think founder mental health is also a very critical key component staying motivated being able to absorb rejection and be able to like be resilient the next day or right after it happens so i actually do practice what i preach so we teach about tapping i use tapping we teach about breath work i do breath work i meditate every day so i really do walk the talk in terms of what we're suggesting and finally we're going to the ceo of online optimism a creative digital and design agency based in new orleans i think every challenge is people focused what i've learned and thirteen years of doing this is to listen and build on trust and and and assume the best for employees wear remote company who a hybrid but like you need to trust that everyone is working hard and if you give them a company and a culture that is gordon supports and appreciates them you have to believe that they will help you grow your business toward your goals alright i hope you learned something today that is going to do it for us thank you so much for tuning in the hustle daily show we're a proud part of hubspot media our editor today is robert hart and our executive producer is darren clark we've got a lot more tech business coverage in our newsletter if you're not arrived go get signed up the hustle dot c slash email and follow us on instagram at the hustle daily have a great day okay look side hustle fail when they consume all of your time i mean every single bit of it the pros though work smarter with ai doing all the heavy lifting to help you out we just drop the side hustle accelerator database you can search your exact problem for your side hustle grab the perfect prompt and get results if you're struggling with marketing content and customer service it's all solved in just seconds this isn't just another tool guys it's your unfair advantage in a spreadsheet so stop asking ai the wrong questions and start scaling with what actually works you can get it for free the link in our show notes and you can stop right now actually why you take a look down at those show notes and tap the link you don't wanna sleep on this

inbound season is upon us everybody so get ready because inbound twenty twenty five will bring together once again the brightest minds in marketing sales and ai to explore what's now and what's next the event is taking place september third to fifth at the moscow center in san francisco and this three day experience features inspiring keynote tactical breakout sessions exclusive product reveals and immersive workshops you can network with industry leaders and gain actionable insights to implement immediately for your company the speakers we got on the docket are great this year we got amy poe marquez brown sean evans glenn doyle and many others you're not gonna wanna miss it you can go to inbound dot com slash register to secure your spot at inbound twenty twenty five good morning and happy friday everybody today's june twenty seventh i'm john w here with juliet at bennett r and this is the hustle daily show youth fashion and culture publication nylon is taking a different approach to monetizing a media company the editorial is committed to creating exclusive free to attend events to assemble a space of influencers who are quote cool enough what that means exactly we're not so sure but more importantly how is the company making any money from this approach we'll chat about that in a bit but first let's give the news in business and a tech it's all to you juliet the hottest business of twenty twenty five is apparently a used bookstore near an ai office ant t maker of claude and subject subjective of endless copyright lawsuits like every other ai leader had one model training tactic revealed in court this week it spent many millions of dollars buying up used books on binding them cutting pages scanning them and ultimately it's bidding them the judge ruled it was fair used to digitize the library full of print books the company had purchased with the judge wasn't onboard with ant t also pirate over seven million books time to say goodbye to windows blue screen of death for forty years a blue screen with an error message has informed frustrated windows users of a big bad error but no more a summer microsoft will replace it with a simple black screen announcing an error and what went wrong david weston microsoft's vice president of enterprise and security told the verge that this change is an attempt at clarity and providing better information allowing users to identify and fix issues faster walmart is testing dark stores which sounds kind of cool but actually these stores exist only to fulfill online orders walmart will start with a pilot location in dallas and then another for its hometown benton arkansas bbc readers in the us will soon have to pay eight ninety nine a month to access its online articles and the bbc news channel's live stream has a way to drive revenue as annual licensing fees which are paid by a uk users fall and anna win inspiration for the devil wears prada will step down as editor in chief of american v after thirty seven years she will remain con chief content officer and global editorial director at v okay look side hustle fail when they consume all of your time i mean every single bit of it the pros though work smarter with ai doing all the heavy lifting to help you out we just drop the side hustle accelerator database you can search your exact problem for your side hustle grab the perfect prompt and get results if you're struggling with marketing content and customer service it's all solved in just seconds this isn't just another tool guys it's your unfair advantage in a spreadsheet so stop asking ai the wrong questions and start scaling with what actually works you can get it for free in the link in our show notes and you can stop right now actually you why you take a look down at those show notes and tap the link you don't wanna sleep on this okay so today we're talking about nylon a publication under bustle digital group that is making quite a stir in the influencer world juliet what is nylon up to i didn't know this because i'm not cool but apparently nylon is so cool that its parties are just like everyone wants to be there because it's the who's who some people are going through apparently drastic efforts to try to get into these parties who thought who would i experience with nylon as i see it on like a magazine rack and i don't really read it right not because i don't think it's good but just not my beat like it's not the sort of thing that i read but i did not know that its parties really like apparently these these killer who with like the best people that you wanna stand next to and get selfies with if you're into that sort of thing it's insane i didn't even know nylon existed before we do the story honestly and i used to work for that owns them so i don't know how i haven't come across them but you're saying yeah they're having these insane parties that are really exclusive and really fun can you tell me some details about what these parties are and how to get in if you can company no because i'm not that cool gotcha i can't tell you i was just reading that like so they have these parties and you know whoever is on the list it's like this is the party to go to this is where all of the cool people are at the nylon party and then are of course some brand activations which is what we're gonna get to but yeah i guess they're just really cool so like if you think about events like for example ko coachella south by southwest or whatever sure there are always brand parties and right you know you wanna get into the cool ones where the cool people are where the celebrities are and in the case of nylon it would be nylon you wanna go to the nylon party if there is one at the event that you're attending you mentioned some brands so with these parties as you said there's no entry fee you just kinda go in but you have to be invited and you have to be told where it is what's happening all very secretive but when do you think about it how do they make money on these events exactly because they're having people come in for free they're sending all these invites they gotta rent the venue they gotta do all this stuff so where does the monetization come in for them basically brands wanna be there they want to be in front of these pacemaker makers these celebrities whoever so you know they pay to be the tequila of choice they pay to have something of theirs put in a swag bag so essentially brands are doing a large portion of the funding for these events just to be in front of the people who will be at the party so that's fascinating because a lot of other editorial publications monetize through different means right usually through like you know couple headline clicks or ads on the site this seems like to be a very new win of actually monetizing your brand and your content yeah i think what nylon is doing now is interesting for a publication it's not like this has never happened before but what they're doing now is most magazines sell subscriptions and in exchange for your subscription you get that content you get the magazine you get access to if it's the new york times you've got recipes and games that you can also have access to in the case of nylon they're launching a new membership program and this membership program is free but it's also invite only so you might be nylon biggest fan but if you are just a person like me you know you don't have a bunch of instagram followers are not cool you're not in the no you are not going to be invited to be a member of the nylon community mh but according to brian goldberg the ceo and founder of nylon who was talking to fortune magazine about this the goal is to get thousands of the most influential young pacemaker in america ultimately fifty thousand people who have about a hundred thousand social media followers each for a reach of five billion people across this community and these people in exchange for being members which is free will get access to various events and the entity who is paying is the brand that wants to be in front of this curated group of influencers wherever this event takes place so you can imagine fifty thousand people that's gonna be spread across the country so you'll have a new york you'll have an la thing you'll have chicago you'll have an awesome thing wherever the taste makers are wherever they're concentrated that's likely where these events will pop up they will be very cool and you will one hundred percent what your brand to be there just like it's already happening at these more standalone activations but this will all be part of the nylon membership ecosystem yeah i mean fascinating strategy there getting these big influencers with big following to talk about your events come to the events honestly if you are as you said like a tequila brand or something you're like don julio and people are taking videos of you mh pouring don julio shots at the event that's a big win for you because now your broadcast to a hundred thousand people per person theoretically so this is a great idea i feel like for nylon to do because the exclusivity factor is really important here as well mh because it's the whole thing of like you can't go right unless you're on the inside right unless you know somebody who knows somebody and you have to probably try really hard to get it and if you're not already invited so that exclusivity that secrecy helps build the brand it help keeps the demand high and then these other brands can come into the events and actually pay money to get in front of these people so i it seems to be like a pretty good idea actually yeah i act like it a lot and not necessarily for the exclusivity like what nylon is doing i think works for nylon but when you look at media publications across the board right now most of them are suffering actually it seems like every other week it's this one got acquired and they fired everybody and they're gonna do clips merger and then the yeah mh yeah i love poly i like video games so i like on big fan of them yeah not excited to see what's gonna happen with the new poly i'm hoping that it's like still these in up game guides that i enjoy reading and i'm hoping since it was acquired by val that it doesn't look like other val stories which are in why do i have to click twenty slides full of pop up ads to get to the end of this article that is actually very short so at a time when you've got these brands sort of cutting costs cutting labor putting out crap farming for clicks headlines that really don't go anywhere lots of ads full what is a way a media company can make money without sacrificing the quality of its content i think this is an interesting avenue we've seen the new york times gain subscribers and revenue by offering subscriptions to recipes and games as i said earlier even if you don't read the new york times for the news content i know so many people who have a subscription and they do the cross puzzle every single day yeah and it's not like a crossover puzzle is like some new thing we've been doing them for a long time it's just the new york times through world through its suite of games has really offered value to its subscribers and i think there are a lot of other media companies that could be doing as it doesn't have to be we have assembled the coolest people in the world it could just be niches so atlas obscure is one of the publications i can think of that already does this it was hard to find figures on how much they make doing this but if you are a member of atlas obscure which is of course sen a travel publication that focuses on a lot of weird quirky places you can go but also content surrounding food in history if you are a member you pay for that it's not a lot i think it's something like sixty six bucks a year you get access to member only events that might be trivia nights a lot of them are online and then alice obscure also offers courses i've really been wanting to take its lock picking course why cool i am not a rogue in a video game i do not need to know how to lock i just want to and then they also have experiences like whole trips that you can go on and travel with other people who are interested in that kind of travel we were looking at right it's not spa day it's we're gonna go look at weird stuff day which is great sure that is the kind of trip i wanna go so this membership i know about it because it appeals to me and i was trying to figure out how much money they made it was like projected that they were gonna make four million dollars in twenty twenty three i could not find anything get verified that figure but i do know that atlas obscure is profitable and that's rare a lot of times from media companies especially media companies that have good long form content the way atlas obscure does so i think this model where it's like okay we can't make money off print anymore that's going out of style we are suffering from making money on ad revenue the clicks they're not doing it for us where can we actually provide value and it's like yeah getting igor people to love you who are fans to sort of come together and pay for experiences and we know that millennials and gen like experiences that's their thing right so i could see a lot of publications really getting into this if they can pull it off if they can make it work yeah a lot of them returning to building communities and just having an audience that's excited for their content and willing to pay it's like not necessarily that different from a creator having a patreon account and just getting money for creating things that people like in their audience enjoys and this is similar thing just on a bigger scale with these businesses that are much larger it seems to be mostly just about creating value for customers now instead of just subscribing to a magazine just because mh you subscribe to a publication now because you really like the writing or you really like the people that also subscribe to it so building that community factor is kind of the way of the future here it looks like yeah i would be curious to know about other media publications that offer the added value of community in person and online but especially in person events like yeah that to me is very interesting yeah to big deal alright and that's gonna do it for us today thanks for tuning into the hustle daily show we're a proud part of hubspot media our editor is robert hart and our executive producer is darren clark we got a lot more tech and business coverage in our newsletter if you're not subscribed go get signed up the hustle dot c slash email and follow us on instagram at the hustle daily catch you later okay look side hustle fail when they consume all of your time i mean every single bit of it the pros though work smarter with ai doing all the heavy lifting to help you out we just drop the side hustle accelerator database you can search your exact problem for your side hustle grab the perfect prompt and get results if you're struggling with marketing content and customer service it's all solved in just seconds this isn't just another tool guys it's your unfair advantage in a spreadsheet so stop asking ai the wrong questions and start scaling with what actually works you can get it for free in the link in our show notes and you can stop right now actually why you take a look down at those show notes and tap the link you don't wanna sleep on this

inbound season is upon us everybody so get ready because inbound twenty twenty five will bring together once again the brightest minds in marketing sales and ai to explore what's now and what's next the event is taking place september third to fifth at the moscow center in san francisco and this three day experience features inspiring keynote tactical breakout sessions exclusive product reveals and immersive workshops you can network with industry leaders and gain actionable insights to implement immediately for your company the speakers we got on the docket are great this year we got amy poe marquez brown sean evans glenn doyle and many others you're not gonna wanna miss it you can go to inbound dot com slash register to secure your spot at inbound twenty twenty five hey good morning everyone it's thursday june twenty sixth i'm mark dent here with catherine laid law and this is the hustle daily show today we are talking about everyone's favorite green beverage matcha this tea based drink made from ingredients developed in japan has become a sensation at coffee shops and on tiktok but matcha can also be relatively hard for sellers to find and therefore expensive for people who want that tasty matcha goodness so we're gonna talk about why something that's so popular is surprisingly unpopular to produce we're gonna get to that in a bit but first let's give you the hits and headlines in business and tech alright let's start off with the dating scene it's a tough time to find a match and arguably an even tougher time to play the match maker bum announced yesterday it planned to lay off thirty percent of its staff some two hundred forty employees because it's aiming to slim down and return to growth after years of stag nation the move led to bum stock price going up by twenty percent on wednesday dating apps of course like bum like tinder like others have been struggling as young people have grown tired of endless online swiping the ceo of bum whitney wolfe heard justified these layoffs by saying that a smaller staff will allow the app to be faster and more decisive at launching new products okay so if you don't like online dating here's a quick suggestion maybe just go on a cruise because it seems like everyone is the latest earnings for cruise operator carnival corp we're about as h as their large ships carnival registered its highest margins in nearly twenty years and said that advanced bookings for next year are tracking with record levels the news of carnival having these great earnings sent its competitor royal caribbean groups share price to an all time high because it's gonna have its earnings call next month catherine it is a real cruise world right now hard to believe just five years after the pandemic yeah this really surprised me for some reason i'm curious to know what demographic is being drawn in by these ships and maybe what upgrades these ships have undergone in the last twenty years since the last time i was on a cruise i don't know yeah but i'm curious of cruising is like gen z's new thing and i've just missed it because not social yeah i don't know i'm honestly guessing it's still the silent generations thing and the baby boomers thing but you know they have a lot of money to spend there's another cruise company called regent seven seas that in two thousand twenty seven is gonna launch a one hundred forty day forty country trip that's gonna cost eight hundred forty thousand dollars per person so there's maybe people with money who are making these earnings kind of go up i think in it for the bragging rights for sure forty countries that's wild i know alright let's move on to apple news does anyone remember when apple gave everybody a youtube album on their itunes that nobody wanted i mean maybe some people i know youtube does have its fans but anyway the sequel to that strategy just came out that's because iphone owners have realized that they just received a wallet notification offering a ten dollar fan dang discount for the purchase of two or more tickets to f one the movie f one when the movie is an apple original films fl that stars brad pitt as an aspiring formula one driver and features apple technology both on screen and behind the scenes but i guess everybody likes brad pitt so maybe people aren't quite as upset here's something cool new zealand's halt raised one hundred million dollars at a one billion dollar valuation making the cow tech startup up a full fledged unicorn so halt has a system of smart cow callers tied to a virtual fencing app that helps ranchers move the livestock with sound cues this is i like this technology i love this technology forget swiping on bum this is the swiping that i want me to yeah i think this is so whole some it seems like a better space to invest in at this moment rather than dating i think cows are the future it reminds me of what was that game farm bill that everyone and their uncle goal were obsessed with for a while on facebook oh yeah early twenty tens late outs that and that we're one vampire game or something i don't know was all but it did okay finally unilever will acquire men's grooming company doctor sq apparently charmed by its built in culture brand and advertising and as you may know doctor sq sells soaps supposedly infused with actress sidney sweeney bath water so i guess that is something that can get you acquired now okay look side hustle fail when they consume all of your time i mean every single bit of it the pros though work smarter with ai doing all the heavy lifting to help you out we just drop the side hustle accelerator database you can search your exact problem for your side hustle grab the perfect prompt and get results if you're struggling with marketing content and customer service it's all solved in just seconds this isn't just another tool guys it's your unfair advantage in a spreadsheet so stop asking ai the wrong questions and start scaling with what actually works you can get it for free in the link in our show notes and you can stop right now actually why don't you take a look down at those show notes and tap the link you don't wanna sleep on this okay let's move on to the main story and as i mentioned we are talking about matcha it's the drink that everybody is drinking it's green you cannot miss it if you're inside of a coffee shop unless of course they're sold out of it so catherine what exactly is matcha and why has to become so popular you just wrote a story for us on this of a couple days ago i did yeah so marsha is a type of specially grown green tea essentially it's been sort of grown under gradual cover of darkness over time processed and ground into sort of a fine powder that's sold in little packets or tin you can mix it with water with gotten really popular as matcha latte which is mixed with steamed milk and then whisk to sort of create the drinks that you'll see people waiting in line for hours for or lining up at the coffee shops asking for it's most of that to today is grown in japan and so there's a couple of reasons why it's become really popular one is that japan is sort of riding a popularity wave of its own right now it has set record breaking numbers over the last couple of years in terms of international visitors upwards of thirty seven million last year matcha itself has sort of emerged in the coffee market as being arguably a bit more health option than coffee it contains a little bit less caffeine its proponents argue that the antioxidants in it have health benefits and then also just to be frank like it plays well on social media right it looks david green it looks gorgeous the color really pops it's all over tiktok for a reason yeah i remember green tea latte kinda had a moment you know a a decade ago and these are kind of just like a different iteration of that but it's so weird to me it's like you mentioned it's just this powder derived from growing tea in japan and you know that powder then is mixed with milk like in the case of these green tea latte or other things so you have people who just buy this powder on their own you coffee shops that buy you have other retailers that buy it and then sell it you know it just seems like okay matcha popular so people buy it therefore everybody should be happy but it doesn't seem like that's what's happening here what are some of the issues going on no it's actually caused like a year of unprecedented chaos in the market so there are a few issues going on but essentially it can be dis distilled down to unprecedented demand puts unprecedented strain on a supply chain that's really not set up for sort of international scale or hasn't seen international scale so hasn't been forced to sort of evolve in the same way at many stages of the process businesses that are operating in this market are family owned they're sort of smaller so that includes the farmers the stone miller who are responsible for the grinding it includes the packaging operations and then a lot of of times the sort of wholesaler who will oversee the exporting of the powder overseas and so you're seeing bottlenecks and virtually every stage of the process on top of that sort of like in the us the number of farming families in japan are going down the average age of farmer in japan is i believe sixty seven that's up there with the people who like still going cruises definitely part in parcel yes and so you're sort of seeing these younger generations not taking up the family business in the same way which is leaving a bit of a hole in the market makes these sort of smaller operations a little bit slower to scale the matcha once it has been pan which only happens once a year at an annual harvest then goes on to the grinding facilities these stone mills which can grind forty grams in an hour because that itself as a labor intensive equipment intensive process and then even when it comes to things as simple as packaging or things that we have sort of automated or have sort of major factories set up here that hasn't been set up for matcha which is really delicate substance yeah and isn't shelf stable over long periods of time and so it's packaging requirements are specific and the factories in japan that have been set up for this just aren't used to taking orders at the size that they're now seeing and so in speaking with wholesaler they're talking about factories taking orders on paper and then packing slips getting lost and things like that like i think there's been quite an adjustment quite quickly and you've mentioned it in your story that there was a grower and distributor who's reported a price increase of one and a half another grower raising prices by a hundred fifty percent and you know one of the sources you talked to said you know it's a great situation right now if you're one of them like if you have the supply and you can kind of pass it on down the supply chain but for everybody who's lower on the supply chain from stores or people who just want mantra it seems like it's maybe not the greatest situation right now that's right and fights are breaking out i mean matcha talk which is sort of a niche area of tiktok there's sort of bullying going on accusations of hoarding and over consumption for people who are posting their matcha haul you get people posting like crazy whenever there's new stock in shops in like san francisco for example where i've seen that happen where people will congregate on reddit does anyone know where i can buy a of matcha today you have sort of cafes that are opening and then having to close or having to pivot really quickly to other drinks because they're matcha of supply dries up really quickly there's sort of this rush and then ensuing chaos but i think what we're going to see is yeah an uneven supply coming out for the next it was estimated year or two wow the people that i spoke to and then rising prices will also probably be an in as this continues yeah crazy i mean it's like latte are already expensive enough now it's like okay a potential one hundred fifty percent increase on the matcha latte right yeah and who knows maybe tariffs will become involved soon too that's right yeah okay well delicious drink and a delicious interesting topic but maybe not the greatest for people who actually wanted over the next year well that's gonna do it for us today thanks everybody for tuning in to the hustle daily show where proud part of the hubspot network our editor today is robert hart and our executive producer is darren clark we've got a lot more tech business coverage in our newsletter so if you're not subscribed please go get signed up at the hustle dot c slash email and if you just can't get enough of that then please follow us on instagram at the hustle daily we'll see you tomorrow okay look side hustle fail when they consume all of your time i mean every single bit of it the pros though work smarter with ai doing all the heavy lifting to help you out we just drop the side hustle accelerator database you can search your exact problem for your side hustle grab the perfect prompt and get results if you're struggling with marketing content and customer service it's all solved in just seconds this isn't just another tool guys it's your unfair advantage in a spreadsheet so stop asking ai the wrong questions and start scaling with what actually works you can get it for free the link in our show notes and you can stop right now actually why don't you take a look down at those show notes and tap the link you don't wanna sleep on this

inbound season is upon us everybody so get ready because inbound twenty twenty five will bring together once again the brightest minds in marketing sales and ai to explore what's now and what's next the event is taking place september third to fifth at the moscow center in san francisco and this three day experience features inspiring keynote tactical breakout sessions exclusive product reveals and immersive workshops you can network with industry leaders and gain actionable insights to implement immediately for your company the speakers we got on the docket are great this year we got amy poe marquez brown sean evans glenn doyle and many others you're not gonna wanna miss it you can go to inbound dot com slash register to secure your spot at inbound twenty twenty five alright good morning everybody today's wednesday june twenty fifth i'm john w here with juliet bennett r and mark dent and this is the hustle daily show the son business is well heat up sauna have existed for a very long time but right now people are taking a special interest in them as places first socialize so how is the son economy right now in the us and where is it projected to go we'll chat about that in a bit but first let's give the news in business and tech takeaway away mark thank you john let's start today with a tail rooted in the nineteen nineties two job searching brands that sorting the original dot com boom career builder and monster which were united by a two thousand twenty four merger filed for bankruptcy yesterday revenue fell forty percent year over year and these once proud trail blazers are now expected to sell their assets off in three chunks through the chapter eleven process the business of online job hunting has been slipping overall another leader in the space indeed has laid off three thousand employees since two thousand and twenty three but that doesn't mean there's no winner here linkedin has grown its annual revenue from seven billion dollars to seventeen billion dollars over the last five years speaking of jobs more americans are working multiple jobs now than at any time since two thousand eight's great recession according to the wall street journal so far in two thousand twenty five about one in twenty us workers overall but four and ten millennials held more than one job is this a recession indicator i think possibly so let's move on to some other economic news fed chair jerome powell once again signal the fed isn't ready to cut interest rates just yet yesterday powell said the fed wanted to quote wait to learn more about the likely course of the economy before considering any adjustments to our policy stance onward to a story about student loans could be a rough summer for millions who are behind on their loan payments according to the wall street journal some two million americans are at risk of default on their student loans and could soon have their wages garnish by the federal government in fast food news you may remember or have participated in an economic blackout earlier this year for the likes of amazon walmart or target while the latest business under boycott from the people's union usa is now mcdonald's the group has called for a boycott of the golden arches as a mean of calling out price gouging and advocating for corporate responsibility the boycott started yesterday and continues through next to monday okay a quick entertainment story now should ticket a master watch out the startup punch up live raised a two point three million dollars seed round to expand its stand up comedy focused ticketing and community platform which connects comics and fans and offers all parties away to bypass ticket master punch live will now also target music magic and live podcasts and finally the nba draft is tonight the number one overall pick expected to be duke university's cooper flag will be able to sign a contract worth as much as sixty two million dollars over the next four years that is not a bad entry level salary okay look side hustle fail when they consume all of your time i mean every single bit of it the pros though work smarter with ai doing all the heavy lifting to help you out we just drop the side hustle accelerator database you can search your exact problem for your side hustle grab the perfect prompt and get results if you're struggling with marketing content and customer service it's all solved in just seconds this isn't just another tool guys it's your unfair advantage in a spreadsheet so stop asking ai the wrong questions and start scaling with what actually works you can get it for free the link in our show notes and you can stop right now i actually why don't you take a look down at those show notes and tap the link you don't wanna sleep on this alright so sauna have been around for a very long time but now they're a booming place for socializing so juliet what's happening in the son business right now everybody's is just getting together to hang out and sweat we love a group sweat together yeah allegedly yeah now to say that this is a new phenomenon not quite accurate necessarily it's kinda new in the uk in the us other cultures have been doing social sinus for a long time in finland it's just like super part of the culture it's like baked in it's a regular activity when i lived in korea town i was a big fan of the korean spas and like yeah any day anytime twenty four hours go sit in the cold room sit in the hot room sitting the i mean it was great yeah americans they don't really social son that much until lately and that is why it's in the news now is because it's kind of a new thing i think it used to be if you had a asana if you were going son you were at a hotel sure at a gym mh or trying to make a deal in the mob on a tv show i feel like i saw tv those are the only like three purposes you would normally do and and the solo asana and back i feel like those are big in finland of just like having your own yes personal single double person asana not for socializing more for like asana part of the thing but now socializing seems to be the big deal in san yes yeah so what's the economics of son right now let's talk that so apparently it is a larger business than i would have thought market research firm ran research estimates the gl son business will be worth one point three billion dollars by twenty thirty now if you compare that to twenty twenty four it was worth nine hundred five million dollars that's per the economist and for this data so it is a growing business and you're seeing a lot more of them in the uk in twenty twenty three there were forty five social sauna and now there's a hundred forty seven so that's a lot more and not a lot of time that is a lot it seems like a large increase all the way to twenty thirty as well with mh getting to the billions there globally that's crazy mh you know when i go to usa asana maybe it's said a gym maybe there's a lot of people there and i think honestly the last thing i wanna do when i go into asana is socialize with other nude men so i wonder how exactly this is gaining traction and like what people actually do in these social sauna and how that works so actually when i was reading about it because i've never been to a social sauna i have a steam room at the gym and if i go in there there's maybe one or two other people there i do not talk to them but i will say when i used to go to korean spas i would talk to people and you'd just be hanging out naked in a mug or t bath chatting about whatever and it was kind of nice to just talk to the older women and it was actually really nice mh this kind of reminds me of that daybreak breaker dance party that i've read about that i also have not gone to oh heard about that one too yeah where you get up super super early before work and you go to the club yeah you basically go to rave and there's no alcohol yeah you just you know you have your cha or whatever so it very much feels to me like part of that wellness trend where you are moving away from loud noisy bars and clubs and getting drunk and you're doing these wellness activities together so for example there is asana business in new york and it has a few other locations i think toronto is one it's called other ship and these sessions they're not just i'm sitting in asana and sweating they're guided experiences you could do breathing sessions you know all sorts of breath work there might be aroma therapy there might be like music there might be group sharing sessions which kind of sounds like therapy you know and then you are of course staggering these with the ice baths you know it's not like a sweat lodge you are doing other things i think this is something that i've seen in yoga before i definitely used to live next to a yoga studio that would do let's say forty minutes of the practice and then there'd be a sound bath for thirty minutes or you would journal for twenty minutes so it kind of feels like an extension of that only is taking place in asana which i think is the novel thing about it for americans some people in the uk mh and i wanna go back to something that you said before about that daybreak party situation where i have been seeing quite a trend in new york specifically of people not exactly wanting to go out and drink anymore or go out and get drunk but kind of more prefer to do things for wellness socially and meet up with their friends who are interested in a sport are interested in like pickle ball or you know things like that and this seems like something that you can kind of add to the list of wellness variety and kind of third spaces that will exist in a lot of cities everywhere that don't involve alcohol yeah and i think it's an interesting sort of time for this because when you used to think about the third space the place that you would go to hang out that wasn't work that wasn't your home that used to be the coffee shop if you weren't drinking right or the bookstore which usually had a cafe or things like that and now those things are dis participating post pandemic there's just not a lot of those places left and a lot of those places have since pivoted to be less social mh there are very few coffee shops or cafes that i have been to recently that have that sort of old school nineties hang out listen to someone play the guitar go to a book reading they don't have that vibe anymore they're loud and they're kind of like get this super sugary weirdo drink and then instagram and and then get the fuck out like that's what they feel like yeah and it will be thirteen dollars yeah exactly and i don't know that's just not what people are craving when it comes to how am i gonna meet somebody and i think the same thing is true in bars bars are loud people aren't staying up late anymore we all got used to having cozy times during the pandemic and people just aren't drinking so there is a very wide avenue i think for other forms of socialization and this is something we've talked about on the podcast a lot there are all of these apps designed to get people together who are having trouble making friends in a world that is increasingly remote or you know even having trouble finding people to date mh and having to do it on apps because where do you meet people anymore so like it's kind of surprising because i think our culture specifically i mean we don't think about hanging out naked with people because we feel it's weird like that is a weird cultural thing americans have right like right you know and i'm not saying that people are hanging out naked and sauna most people wear towels i think a lot of these since they're more active people are wearing like sports care but i just think we don't think of these things as being social but maybe we should other cultures do and this is the push we're having so when you think about daytime rave yeah okay why not when you think about things that are even a little more familiar to us board game meetups chess clubs like yeah these are the things people are g toward now and i think for entrepreneurs and businesses that can kind of seize this moment and create these communal spaces they're doing really well yeah i mean those are getting a ton of popularity the board game meetups ups with different meetups ups that don't involve alcohol and or for wellness or for even cheaply priced things like these board game meetups happening in new york a lot of them are free right and you just go and hang out that kind of scenario so you don't even have to pay for like the fifty dollar on a wellness retreat type vibe if you don't want to so i do like this pattern and trend of expanding the social idea behind let's go to a bar so this is very exciting i think this is a wonderful thing that we can do in the united states specifically because i feel like everywhere else has been so on that's already yeah and when you think about the cost of alcohol you read it initially and you're like forty five dollars and up to go hang out an asana for an hour and a half but when you think about what it cost to go to a cocktail bar in new york la i just recently went to somebody's birthday party and my boyfriend and i got four drinks and plus tip my tap was well over a hundred dollars oh yeah yeah that'll do it yeah it hover around like twenty per person so right and then you get a tip and you're tipping twenty percent so i don't know i can see a lot of reasons why these are taken off yeah agreed alright and that's gonna do it for us today thanks for tuning into the hustle daily show we're proud part of hubspot media our editor today is robert hart and our executive t is darren clark we've got a ton more tech of business coverage in our newsletter if you're not subscribed go sign up at the hustle dot c slash email and follow us on instagram at the hustle daily we'll see you later okay look side hustle fail when they consume all of your time i mean every single bit of it the pros though work smarter with ai doing all the heavy lifting to 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