The chain of bakeries everyone loves to hate
Dotcom bust 2.0 and Bill's global expansion.
Hello,
There’s something transcendent about being up a skyscraper. I think it’s a miniature version of the Overview effect, the feeling astronauts get as they look at Earth from space. Many experience an overwhelming sense of beauty and awe as they look down at the silly little planet we call home.
I had a similar sensation as I sat at the top of 22 Bishopsgate on Wednesday, south London and millions of lives twinkling below. I wasn’t eating a sandwich with my legs dangling over the edge Lunch atop a Skyscraper-style but surveying the latest offshoot of the Gordan Ramsay empire, Lucky Cat.
As I tucked into my sashimi (it seems to be a legal requirement that all restaurants over 200m serve raw fish) the value in perspective struck me. It felt like a sigh of relief looking down at life, everything that appears so big and chaotic at eye level is inconsequential and twee when viewed from a great height. Once I’d finished that thought I contemplated nicking the cat chopsticks holder for a bit and then made conversation like a normal person.
Get some perspective,
Hugo
Chief Viewpoint Officer
The Business of Stuff
The Stuff
UK and Europe are not deploying 5G fast enough 📞 - the major operators said this week at Mobile World Congress that the continent has become a global laggard thanks to a fragmented market. They claim that consolidation is required (which has begun to shape with the Vodafone-Three merger) in order to justify the massive investment required to build out 5G infrastructure.
Bill’s is expanding to the Middle East 🥂 - the restaurant group has spotted a niche that hasn’t quite been filled as there are endless fast food and high-end restaurants but not a lot offering the family-friendly mid-market fare they do. Bill’s is part-owned by James Caring who also owns The Ivy Collection, Sexy Fish and Scott’s. I like a Bill’s, it’s usually where you end up when you can’t think of anything else but it’s always a safe bet.
We could be facing the dotcom bust 2.0 📉 - with the markets all over the shop this week, largely thanks to Trump’s hokey cokey tariff policy, people are questioning whether this turbulence could be the first sign of a wider turndown. All the excitement and frothiness around AI is not dissimilar to the internet at the turn of the century.
Nasdaq is pushing to provide 24 hour equity trading 📈 - the stock market has always been a casino and now that retail trading across the globe is so ubiquitous, the race is on to allow people to buy and sell shares all hours of the day and night. The Nasdaq wants to capitalise on the current popularity of US shares so has begun conversations with regulators to launch in late 2026.
Everyone is cross with Gail’s 🥖 - it is already the benchmark for the gentrification of an area but have been subject to even more ire in the past week when it was revealed by a whistleblower that they chuck out sandwiches every few hours that are no longer deemed to be fresh. Gail’s denies some branches throw away up to six bags of food a day as their business would not be viable.
The price of first-class stamps is going up AGAIN 📮 - I bought a book of stamps the other day and when my eyes widened at the price the shopkeeper simply said “I know mate”. The price will be rising from £1.85 to £1.90 on 7th April. Royal Mail’s parent company is currently being sold to Czech billionaire Daniel Kretinsky, with the government retaining a golden share.
WPP has invested in Stability AI 🖼️ - the strategic partnership with the generative AI company will gave them access to a range of generative AI tools which are handy pieces of kit for an advertising company. Stability is currently being sued by Getty who claim their library was used to train their models.
New York investors take a stake in Qazgeology ⛏️ - America is on the hunt for rare earth metals and this collab with the Kazakhstani company marks a step onto China’s turf. Minerals like neodymium and praseodymium are key ingredients for things like wind turbines and medical lasers. A spokesperson for the Chinese Communist Party was quoted as saying “geroff my land”.
TSMC pledges to invest $100bn in the US 🍪 - the Taiwanese company makes a disproportionate amount of the world’s semiconductors, which makes America incredibly nervous. The company has sought to evade US sanctions by promising to directly invest a huge amount of money in making the chips on American soil. Some suggest this will decrease the leverage Taiwan has, guaranteeing their security against a Chinese invasion.
Clothing manufacturers are looking to automate in Bangladesh 🪡 - the South Asian country produces a huge amount of the world’s garments but with increasing competition from Vietnam and Cambodia they are looking for ways to cut costs. Somewhat paradoxically this means that despite already tough working conditions, life is being made harder for employees who are losing their jobs.
Quote of the week
What I have is a malevolent curiosity. That's what drives my need to write and what probably leads me to look at things a little askew. I do tend to take a different perspective from most people. - David Bowie