| |
| Here's your daily business briefing. - 🚗 Ford February sales up 10.5% on hybrid, EV growth
- 🔍 Deep Dive: Logistics-Tech startups investments slump
- 🎵 Musicians drop new tracks in video games
Thanks for reading! Shriram
p/Shriram | |
| 1 | | Ford Motor ($F) experienced a 10.5% surge in U.S. sales in February compared to the same month in 2023, primarily driven by increased sales of hybrid and all-electric vehicles. Notably, hybrid sales, including 6,463 units of the Maverick Hybrid pickup, contributed to the significant growth, totaling 12,045 units for the month. More: - Ford reported an 81% increase in electric vehicle sales alongside a 7.5% rise in traditional internal combustion engine sales.
- Despite the rise in EVs and hybrids, 89.5% of Ford's sales were conventional gas-powered vehicles in February.
- The very profitable F-Series pickups saw a 5.8% fall in sales to 51,829 units due to the 2024 models' delayed shipments.
- Sales through February of this year totaled 311,325 units, a 6.6% increase over the previous year's period.
|     | |
| 2 | | 
What the numbers say: Venture capital investments in supply-chain technology firms decreased from $5.2B in the same quarter two years ago to $780M in Q4 of the prior year. Flexport plans to cut about 500 employees, marking its second significant layoff in less than six months, while other logistics firms like Flexe and FourKites have also recently reduced their workforce. Relevance: Logistics tech startups are implementing layoffs and cost-cutting measures due to the ongoing freight slump and high interest rates, reflecting the challenges of declining revenue and mounting losses in the sector. However, established players like Project44 and FourKites are witnessing increased demand for their supply chain visibility solutions amid recent shipping disruptions in the Red Sea. More data: Detailed financial metrics, including revenue and growth projections, could offer valuable insights into the startups' financial status and future outlook, while information on the impact of layoffs and cost-cutting measures would provide context for their operational and strategic adjustments in response to market challenges. | | | |
| A message from our sponsor, Meowtel. |  | | Meowtel is 100% Cats and 100% Convenient. In-home Cat Sitting for Cat People. Your cat’s well-being should not be a stressor while you’re on vacation. Meowtel is the #1 cat sitting app for cat lovers. Every in-home visit includes: - Food & water refresh
- Litter box cleaning
- Message & photo updates
- Medications (if applicable)
- And of course our cat whisperers will provide lots of cuddles and playtime!
Our sitters are all background-checked and individually interviewed for cat experience and knowledge before we insure them to take care of your feline friend. Each reservation includes a free Meet & Greet so you can meet your sitter before you leave and review cat care logistics, preferences, quirks, and your cat’s favorite hiding spot and toy. We work around your cat's routine to maintain their sense of normalcy and safety. Book your cat's staycation with us – where love and care come standard. Book An Insured Cat Sitter | |
|
| 3 | | Musicians are leveraging video games as a platform to release new songs, connecting with the large youth audience in the gaming industry. Collaborations between artists and game companies enable interactive events and background music placement, often preceding releases on streaming platforms, with artists earning licensing fees and a share of revenue from virtual item sales. More: - Record executives prioritize gaming since it's so popular among youth — roughly 75% of Americans under 18 play video games.
- Video games provide a captive audience for music consumption, with an estimated 3.31 billion players globally.
- Tens of thousands of players participate in in-game events like Odetari's album premiere in Roblox's "Mega Noob Simulator."
- Innovations in technology allow for interactive performances, listening parties, and the inclusion of musicians as playable characters in video games.
- Older songs can also find fresh life in video games; Eminem's "Godzilla" has returned to the charts after appearing in Fortnite events.
| | | |
| 4 | | Luxury gyms like LifeTime ($LTH) and Equinox are acquiring weight loss clinics to serve members using GLP-1 medications, such as Ozempic and Wegovy, which have seen over 9 million prescriptions in the U.S. in the last three months of 2022. By 2030, over 30 million people — or 9% of the U.S. population — may be taking GLP-1 medications, according to JPMorgan researchers' estimates. More: - Gyms like LifeTime and Equinox adjust for GLP-1 medication users, focusing on weight loss and muscle preservation, while other industries, including WeightWatchers and Nestlé, tailor services for these users.
- The rise in GLP-1 drugs may help low-cost fitness centers like Planet Fitness since they become more widely available as their costs decline.
- Life Time and Equinox have launched clinics and programs designed explicitly for GLP-1 users, providing access to prescribing physicians and individualized training.
- Xponential Fitness has purchased weight loss clinics authorized to administer GLP-1 drugs to increase its range of services.
| | | |
| A message from our sponsor, RAD AI. |  | | In the rapidly evolving digital marketing landscape, a new player is showing unprecedented growth: RAD AI. Its award-winning technology harnesses the power of AI and advanced language models, offering marketers an unparalleled edge. With RAD AI, you're not just reaching your audience; you're engaging them on a deeper level, understanding their behaviors and interests with precision previously thought impossible. The result? A significant boost in your content's ROI, ensuring every effort counts. But here's where it gets even more exciting: RAD AI is opening its doors to investors who are ready to be part of this exciting journey. Whether you're part of a growing marketing team or an individual investor seeking to tap into the vast potential of AI, this is your opportunity. Plus, for a limited time, the first $250,000 invested in this round will secure 20% bonus shares. Learn More | |
|
| 5 | | JetBlue Airways ($JBLU) and Spirit Airlines ($SAVE) have abandoned their $3.8B merger agreement after a federal judge's January ruling against the deal. JetBlue's shares increased by 1.7% in midday trading, while Spirit's shares fell by 15%, marking the end of a nearly two-year saga that started with JetBlue's hostile bidding war for Spirit. More: - In January, U.S. District Judge William Young ruled in favor of antitrust enforcement, finding that the combination would hurt consumers by reducing competition.
- Both airlines contended that the merger was essential for effective competition against larger industry rivals.
- On March 5, JetBlue consented to pay Spirit $69M in cash to cover expenses; additionally, $425M had already been given to Spirit's investors.
- With activist investor Carl Icahn putting pressure on the airline, JetBlue is concentrating on taking strong measures to boost its earnings.
- Despite financial difficulties and uncertainties, Spirit is optimistic about its future as a stand-alone airline.
| | | |
| 6 | | Anthropic, an AI startup, has introduced Claude 3, its latest GenAI technology, boasting performance comparable to OpenAI's GPT-4 and featuring models like Haiku, Sonnet, and Opus, with Opus being the most powerful. This release marks Anthropic's debut multimodal GenAI, equipped to analyze text and images, encompassing photos, charts, and diagrams. More: - Claude 3 analyzes up to 20 images for comparison but faces limitations, such as an inability to identify people and challenges with low-quality images or tasks requiring spatial reasoning.
- Anthropic offers enhancements over its predecessors, such as improved conversational skills and better attention to multi-step instructions.
- The Claude 3 models are priced from $0.25 to $15 per million in input tokens, and the different rates apply to output tokens.
- Using a "constitutional AI" approach, Anthropic intends to regularly upgrade Claude 3 and develop AI with advanced agentic capabilities and the ability to self-learn, all in line with human intentions.
| | | |
| 7 | | Quick Hits: - Top Performers are seeing a 56% increase in deal generation and productivity when they use this sales framework.*
- Denis Villeneuve's "Dune: Part Two" set a 2024 box office record, opening at $81.5M, boosted by IMAX sales accounting for 23% ($18.5M) of domestic ticket revenue.
- American Airlines ordered 260 new narrow-body planes, including Airbus, Embraer, and the yet-to-be-certified Boeing 737 Max 10, with plans to retrofit A319 and A320 planes for larger first-class seating starting in 2025.
- The European Union levied a $2B fine on Apple, its first-ever antitrust penalty against the tech giant, for obstructing rival music streaming services like Spotify from informing iPhone users about cheaper subscription alternatives outside Apple's app store.
- Tesla's shares plummeted by over 7% on Monday as the company experienced a drop in sales during February in China, attributed to heightened competition and a slowdown coinciding with the Lunar New Year holidays.
*This is a sponsored listing. | | | |
| Upcoming Events | | MAR
7 | | Portfolio Diversification - Learn from knowledgable experts on the latest trends in alternative investment assets like private equity, crypto, real estate, and the art market. | | | | | | | MAR
27 | | Discover how generative AI can speed up your enterprise, expand your business model, and improve your value proposition. Network with hundreds of AI leaders.* | | | | | | * This is a sponsored event | | | |
 | 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 | |
| |
 | Meowtel: Purrfect In-home Cat Care Anytime! | |
|
 | RAD AI is the future of digital marketing. Execs from Hasbro & Skechers trust its tech to boost ROI. | |
|
| |
