Corporate espionage at a large fashion retailer
Guinness shortages, red tape and red cars.
Hello,
Spotify Wrapped dropped this week and made us all feel special by telling us we’re in the top 0.01% of listeners of that band we love. It’s a clever campaign. We all want to be told things about ourselves, particularly when it affirms our tastes and is backed up by data. But where did it all start?
In November 2016 Spotify launched its “Thanks 2016, it’s been weird” campaign which consisted of a number of print ads saying things like “Dear person who played ‘Sorry’ 42 times on Valentine’s Day, what did you do?” and “Dear person who made a playlist called ‘One Night Stand with Jeb Bush like he’s a Bond Girl in a European Casino’, we have so many questions.” They also released a number of quirky data points across social media and sent rewards to committed listeners of certain artists and songs, culminating in the personalised stats that is Spotify Wrapped as we know it.
User-generated data is now a standard tool in the marketing toolbox of many B2C companies but Spotify spearheaded the movement in a year which saw the first real weaponisation of data in the US general election. It’s a tough balance to strike, this whole data privacy thing. On one hand there are endless benefits that can come from freely available data, like better healthcare and knowing how many times you’ve listened to Disturbia. On the other hand Big Brother needs to mind his own business.
Bum bum be-dum,
Hugo
Chief Listener
The Business Of Stuff
The Stuff
Accusations of corporate espionage at Boohoo 🥸 - claims of stalking are being investigated by police as executives report they are being followed and the CEO reported trespassers on his property. No one is pointing the finger at Mike Ashley and Frasers group as that’s definitely not the sort of thing he’d do. They just so happen to be in a bitter feud with Boohoo at the moment over control of the boardroom.
Red tape costs 3.5% of GDP in Germany 🛑 - the Ifo institute in Munich claims that white-collar workers in Germany spend up to 20% of their time navigating regulatory frameworks which obviously isn’t great for productivity. The costs are not purely financial but psychological as workers experience “rage followed by helplessness and confusion” thanks to all the rules.
Bitcoin on the charge after Trump picks new SEC commissioner - the crypto bros definitely got behind him during the election, pouring millions into campaign funding, and they’ve been rewarded with Paul Atkins who loves a bit of deregulation. Bitcoin hit the $100,000 mark for the first time on Thursday. Another painful landmark for those of us that thought $450 for 1 BTC was too expensive in 2016.
National Guinness shortage threatens to ruin Christmas 🚨 - pubs are being limited to kegs as Diageo struggles to keep up with demand now that Guinness is the new avocado. Supplies are not being limited in Ireland where the black stuff accounts for one in every three pints but some publicans have voiced concerns that pints will go to £10 if the supply crunch continues.
TikTok is going to be banned in the US 👩⚖️ - the appeals court has upheld an order for Bytedance to sell the app or face being banned in January. The ban has been ordered due to the national security risk posed by the application which collects a huge amount of data about US citizens. TikTok will now appeal to the Supreme Court which is their final port of call. Trump will obviously try to “do a deal”.
Sale of the Observer to Tortoise Media approved by board 🗞️ - the sale of the oldest Sunday newspaper in the world, first published in 1791, comes as staff are striking in protest at the deal. Tortoise have promised to invest £25m but many are worried about what will become of the newspaper now that it is no longer held under the Scott Trust.
Everyone wants a slice of Thames Water 💦 - the struggling provider has received multiple bids as it warns that it could run out of cash by next year. They need at least £4bn to keep the lights on and it’s an incredibly appealing asset as water continues to be an increasingly valuable resource. It’s suffered from mismanagement and a rapidly increasingly bill for interest payments thanks to inflation in recent years.
Ban on junk food advertising to start next year 🍔 - foods high in sugar or fat which includes instant porridge laden with golden syrup will not be advertised before 9pm. Companies selling this stuff will still be able to advertise provided they don’t show the product, so some level of child-hypnosis will still be allowed, it will just have to be a bit more discreet.
India electrifies a fleet of buses despite the massive cost 🚌 - 128 million people take the bus per day, and with electric models two and half times more expensive than diesel they’ve struggled to make the economics add up for switching. Several cities have been brought together to cut deals with providers that will see the businesses take the upfront cost, enabling them to operate the services for 12 years.
De Beers has slashed the price of mined gems 💎 - for many years they’ve endeavoured to maintain the price of diamonds and the like but have been struggling with growing acceptance of lab-grown diamonds amongst millennials. In order to grow they are slashing prices by 10-15% across the board.
Really good stuff
Somewhere to live - Haines Cay - The Berry Islands, Bahamas
Coming in at a cool £30m, it’s only 120 miles from Miami and right next to another island with an airport so is basically commutable. I think this one is probably a development opportunity as it’s got a marina and golf course so might be a bit excessive as a weekend getaway.
Something to drive - Ferrari Testarossa
The original celebrated its 40th anniversary this October and whilst it’s an absolute 80s icon, you’re best off going with a 90s model - from a practical perspective if nothing else. Obviously you need a white one if you want to go full Miami Vice.
Something to drink - Don Julio 1942 Tequila
A good bottle of tequila really does make you realise how grim the mass-produced corner shop stuff is. The whole ‘shot’ thing seems to be a good way to market getting horrible stuff down your neck. This one is for sipping.
Quote of the week
“Thanks 2024, it’s been weird” - Me in the style of Spotify