| |
| Here’s your daily business briefing. - 🔌 AT&T-Rivian EV deal
- 🚫 Deep Dive: Trade barriers hinder Chinese EV sales in U.S.
- 💊 Nestle vitamins to ride weight-loss drug wave
Make sure to continue reading the Quarterly Earnings Report and the Quick Hits. Thanks! Shriram
p/Shriram | |
| 1 | | AT&T is set to buy electric vehicles from Rivian as part of a pilot program to evaluate cost reduction, emission reduction, and safety enhancements. The deal comes after Rivian ended its exclusivity agreement with Amazon for delivery vans, opening up opportunities for additional customers, and AT&T plans to incorporate Rivian electric vans and vehicles into its fleet by early 2024. More: - AT&T has a track record of lowering its carbon footprint by investing in cars that run on alternative fuels, such as hybrid electric vehicles and compressed natural gas.
- Companies are moving toward zero-emission fleets due to ESG goals and emission reduction targets, despite worries about how high lending rates will impact the purchase of electric vehicles.
- Irvine, California-based Rivian increased its production estimate in 2023 to 54,000 units.
Zoom Out: - By 2030, Amazon and Rivian want to have at least 100,000 electric delivery vehicles.
|     | |
| 2 | | 
What the numbers say: U.S. EV import value has increased more than 10 times compared to 2017. Germany and Korea are the top U.S. imports of electric vehicles by country. Despite BYD outproducing Tesla globally, Presidents Trump and Biden imposed a 25% tax on Chinese auto imports, hindering Chinese EVs' entry into the U.S. Chinese EVs struggle to significantly impact the U.S. due to trade policies and market dynamics. Relevance: The average U.S. EV sale price in July was $53,469, contrasting with more affordable Chinese EVs like BYD's Atto 3 SUV sold in other markets. U.S. officials worry about China's EV market dominance and potential flooding of American markets, leading some lawmakers to advocate for additional tariffs. At the same time, the EU is investigating alleged pricing disparities due to Chinese subsidies. More Data: Chinese automakers, including Polestar, Geely, and BYD, are exploring U.S. assembly options to avoid tariffs as China aims to become the world's top auto exporter in 2023. China's significant production capacity, exceeding 10 million vehicles annually, has led to an 8% market share in the EU, triggering an investigation into potential tariff increases. | | | |
| A message from our sponsor, Calendly. |  | | Turn scheduling from a pain point into a competitive advantage The average meeting takes 7.5 emails to schedule. All that back-and-forth, plus reminders and follow-ups — it's a poor experience for you, your customers, and your prospects. Calendly lets you eliminate that busywork and delight everyone you meet. Teams that use Calendly are seeing: - 2x conversion rates (CallRail)
- +30% customer retention (Conductor)
- 75% faster time-to-interview (Base)
- 323% ROI (CI Assante Wealth Management)
How are teams getting these results? Here are 4 features Calendly users can't live without: - Embed: Schedule directly from your website.
- Routing: Qualify & route meetings to the right person.
- Workflows: Automate reminders, follow-ups & more.
- Integrations: Integrate with Salesforce, Hubspot, Zoom, & 100s more.
Sign up for free to join 20 million people and 100k companies using Calendly to power their scheduling. Sign Up Free | |
|
| 3 | | Beginning in 2024, Nestle projects growth rates for its vitamins, minerals, and supplements business in the mid-to-high single digits. Brands like Garden of Life and Nature's Bounty are anticipated to grow as more people look for probiotics and vitamins to add to their diets to lose weight. More: - Nestle CEO Mark Schneider thinks the popularity of weight-loss medications known as GLP-1s would help the company's nutritional products, such as Orgain protein drinks and Solgar vitamins.
- Schneider downplays investor worries about GLP-1 treatments affecting KitKat demand, emphasizing increased interest in Nestle's healthier offerings, particularly vitamins and supplements.
- Nestle's resilience to changing consumer preferences is evident, as it now generates half its revenue from coffee, pet care, and vitamins, compared to 30% seven years ago.
- Nestle prioritizes health through acquisitions like Nature's Bounty in 2021 and ongoing efforts to enhance its product portfolio.
- Even though a sizable amount of sales come from Nestle's prepared foods, milk products, and confections, the company constantly changes its portfolio by buying and selling more rapidly expanding and less successful companies.
| | | |
| 4 | | Amazon's Project Kuiper is set to enhance the speed and connectivity of its internet satellites by incorporating "optical inter-satellite links" (OISLs) or laser links. The recent Protoflight mission successfully tested the laser link technology, which connects satellites to each other, creating a mesh network in space and improving data transmission speed and connectivity. More: - The Kuiper prototype satellites successfully demonstrated laser communications, sustaining data transfers over 621 miles at 100 gigabits per second.
- With a network of 3,236 satellites in low Earth orbit, Amazon intends to integrate laser connectivity into the manufacturing of commercial Kuiper spacecraft.
- The data transfer speed of the laser mesh network in space is anticipated to be roughly 30% faster than that of terrestrial fiber-optic cables over comparable distances.
- Amazon has invested over $10B in the Kuiper satellite project and scheduled 97 rocket launches to carry out the mission.
Zoom Out: | | | |
| A message from our sponsor, Docker. |  | | Docker Transforms Software Delivery at The Warehouse Group
The Warehouse Group, New Zealand's largest retail chain, transformed development with help from Docker.
As they took time to review the risks that could hinder business growth, they noticed one risk was outdated IT infrastructure that would constrain their pace of digital transformation. To transform development, The Warehouse Group adopted Docker containerization for its proven ability to simplify and accelerate application building, testing, and deployment.
Explore their transformation! Check out our latest case study to learn how The Warehouse Group overcame long setup times, inconsistent environments, and sluggish deployment cycles. You’ll learn how standardizing on Docker’s application-level virtualization drove efficiency and accelerated their digital transformation. Saved time. Saved costs. Improved developer efficiency. Download Now | |
|
| |
| 6 | | Former Disney ABC Television Group President Ben Sherwood is set to boost youth sports through MOJO Sports, which includes live game streaming and has been acquired by TeamSnap, a youth sports management platform. As part of the acquisition, MOJO's CEO, Ben Sherwood, will join TeamSnap's board. More: - Founded in 2009, TeamSnap is a sports management software that helps youth team administrators and parents keep schedules, rosters, and communications organized.
- With this acquisition, MOJO will be scaled to TeamSnap's millions of users, improving the experiences of youth sports players, families, and coaches.
- According to data, coach turnover is reduced, and player dropout rates are supported by MOJO's coaching resources and live game streaming.
- According to Sports Business Journal, the child sports market is projected to be worth $37.5B, with 60 million young players worldwide.
- Private equity is making a growing investment in this sector.
| | | |
| 7 | | Quick Hits: - The Kubernetes Cookbook is your comprehensive companion, equipping you with the knowledge and techniques to harness the full potential of Kubernetes.*
- SpaceX's valuation has reached $180B through an ongoing secondary share sale, with insiders considering a stock sale to investors at $97 per share.
- Etsy, the Brooklyn-based online marketplace, plans to reduce its marketplace workforce by 11% as part of a restructuring effort, with Chief Marketing Officer Ryan Scott set to depart.
- GM's Cruise is cutting off 900 employees, constituting 24% of its workforce, primarily affecting commercial operations and corporate functions, following the dismissal of nine "key leaders" from the robotaxi subsidiary.
- Sigma Healthcare has agreed to a $5.79B merger with Australian pharmacy operator CW Group, forming a unified healthcare wholesaler, distributor, and retail pharmacy franchiser.
- Savvy billionaires are hedging their portfolios with farmland. New REIT goes public, and stock price increases 12.20% in its first quarter opening.*
*This is a sponsored listing. | | | |
 | Freelance Writer | | Shriram is pursuing Master’s in Business with Marketing at Warwick Business School. He worked as a Senior Consultant in Tech and Political Consultancies before his Masters. He is passionate about Tech, Marketing, Strategy, Anthropology and Politics. He is also the Postgraduate Ambassador for Warwick Business School. | | This newsletter was edited by Aaron Crutchfield | |
| |
 | Calendly is your scheduling automation platform for eliminating the back-and-forth — and much more. | |
|
 | Developers bring their ideas to life with Docker. Accelerate how you build modern apps. | |
|
| |
