Plus: A record-setting stunt driver, a monumental shift for realtors, a slow loris eating a grape, and more.
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We wonât tell you how to live your life, but if someone offers you 18k+ bobbleheads bearing the likeness of hockey legend Jaromir Jagr, consider passing on that deal â those are stolen goods belonging to the Pittsburgh Penguins. Someone nicked the shipment in transit, leaving fans empty-handed. Even if the law doesnât catch up to the thief, theyâre paying a heavy price: Having to share space with thousands of nodding figurines sounds like a living nightmare.
In todayâs email:
Facebook: For young users, itâs a shopping platform first, social media second.
Câmon: Oh, your yacht doesnât have its own blimp? Pathetic.
Digits: Lying job seekers, book censorship, and more newsy numbers.
Around the web: The definitive ranking of all types of apple, RIP Studebaker, and more.
đ Listen: Whatâs the deal with WcDonaldâs? We visited the buzzy anime-themed McDonaldâs.
The Big Idea
Looking for Gen Z shoppers? Theyâre on Facebook
For young shoppers, Facebook Marketplace is the new Craigslist.
2024-03-18T00:00:00Z
Sara Friedman
Where do you go if you need an old-timey popcorn maker, a set of eight dining chairs, and a baby grand piano?
Facebook Marketplace, of course. (And yes, those were the first results for a Boston-based search.)
We all know that Facebook has fallen from grace. Once atop the social media hierarchy as the place to be, itâs become a relic of the past where estranged relatives post annually for your birthday.
The numbers back it up: Teen usership of Facebook dropped from 71% in 2014 to 33% in 2023, according to a Pew Research Center survey. In its place, YouTube, TikTok, Instagram, and Snapchat reign supreme.
But Facebook has one feature that keeps young users from deleting their accounts: Marketplace, which Gen Zers are using regularly to shop, perThe New York Times.
Facebook Marketplace, which launched in 2016, has 1B+ monthly active users and ~40% of Facebookâs 3B+ users shop on Marketplace.
An estimated 491m users log into Facebook just to use Marketplace.
In 2022, the number of Marketplace users increased 3.6% YoY.
Now, Marketplace ranks just behind eBay as the second most popular site for secondhand shopping in the US.
That checks out
Some prefer Marketplace to good olâ Craigslist because of the familiarity of the social platform and its perceived trustworthiness â buyers can chat with sellers via Messenger and view their profiles and ratings to gather more information.
(Though there are definitely still scammers; Meta has some tips for avoiding them.)
Plus, young shoppers love buying secondhand. Itâs cost-effective â an important factor when youâre young and inflation is up â and itâs more sustainable than buying new, something Gen Z also values.
Not to mention, that generation is increasingly shopping directly through social media: According to a 2023 study, 68% of Gen Z consumers search for products on social media, and 22% complete those purchases â the highest rate across all generations.
Among social commerce options, Facebook comes out on top: Over 51% of all social media shoppers made their most recent purchase on Marketplace.
Now weâre about to add to that stat â gotta go make an offer on that popcorn machine.
Free Resource
Steal these 25 classic sales letters
Stop writing every damn email from scratch. Thatâs essentially the opposite of self-care, and we canât bear to see you suffer.
Hereâs a pack of proven sales letters for first-touch, follow-up, and breakup communications â including a âlast callâ email with a 33% response rate, and a drip campaign that closed $100k in a month.
Use what already exists before you hit another inbox.
25 classic sales emails â
TRENDING
The National Association of Realtors settled its looming antitrust suit, paying $418m in damages and eliminating its agentsâ standard 6% commissions. The move, which will upturn the current real estate model, is expected to immediately reduce the cost of homebuying from absurdly unattainable to just a normal level of unattainable.
SNIPPETS
Hertz and CEO Stephen Scherr are parting ways. Scherr led the car rental giant out of bankruptcy, buying ~165k EVs for its splashy comeback â which consumers werenât at all interested in. Hertz recently took a $245m hit selling off 20k of those EVs.
LinkedIn is getting games. While thereâs no launch date yet, the networking platform is developing puzzle-based games. Not the most natural pairing, but it makes sense given that parent Microsoft earned $7.1B in gaming revenue last quarter.
Gumroadrestricted NSFW content. Founder Sahil Lavingia told TechCrunch the ecommerce platform was encouraged to âbe more rigorousâ in enforcing its terms of service, but didnât say by whom.
March Madness is expanding again, with 38 states (plus Washington, DC) now having legalized some form of sports betting. Legal sports bets passed $121B in 2023, up 30% YoY, and experts predict $2.7B will be bet on this yearâs NCAA basketball tournaments alone.
The NWSLâs San Diego Wave sold for $113m+, nearly 2x the highest-ever sale price for a US womenâs soccer franchise. The NWSL is rising in popularity: In the last year, the league set records for attendance and scored a $240m broadcast deal.
State of the arts: Attendance at the UKâs 15 national museums, including the British Museum, the V&A, and the Tate museums, has not seen a post-covid recovery. The museums saw 14m more visitors in 2018-19 than they did in 2022-23.
Halloween in March?: Home Depot has revealed some of its spooky decor lineup â more than seven months ahead of Oct. 31. Its $299 12-foot skeleton is back with improvements, plus a 5-foot skeleton dog, a 7-foot Frankenstein, and whatever a 10-foot âMurderous Maple treeâ is.
Dune: Part Two is the highest-grossing film of 2024 so far with ~$500m in global box office revenue. Dune (2021), released simultaneously in theaters and on HBO Max, grossed $433m.
Don't miss this...
Can ChatGPT plan a dream wedding? We tried and, eh, not really â not yet, anyway â but AI can offer a solid starting point.
Not Necessary
Add this to your wish list: You know that feeling when you need to run an errand and you simply canât decide between hopping into your megayacht or your blimp? Neither do we! But somewhere, somehow there is a billionaire faced with this very predicament. Thatâs why Lazzarini Design Studio created the Colossea megayacht concept, a 699-foot boat that comes with a 347-foot detachable airship (AKA blimp). The yacht has three engines that can reach a max speed of 22 knots, and the carbon-fiber blimp can disengage directly from the boat, with 10 onboard guest cabins for flying. Making blimps sexy â we didnât know it could be done.
FIT THE BILL
There are thousands of companies valued at $1B+. How many clues do you need to identify todayâs billion-dollar brand?
Clue 1: If current trends hold, this company wonât be considered a âbillion-dollar brandâ for much longer. Last month, it got trucked: a disappointing production outlook tanked stocks to an all-time low, it trimmed 10% of its staff, and its per-unit losses hit $43k+.
Clue 2: For all the doom and gloom lately, this company theoretically has a long leash: It was the biggest IPO of 2021, and it claims Amazon as its biggest stakeholder (Bezosâs behemoth owns ~17% of it) and its biggest customer to date.
Clue 3: This company exists in a volatile industry â but at least Apple just exited the scene and its most entrenched rivals are focusing on hybrids, giving this company some more room to grow.
đ Scroll to the bottom for the answer đ
By the Numbers
Digits: A cool car stunt, a rise in book censorship, and more newsy numbers
Banned books, Telegramâs growth, everyoneâs a liar, and more wild numbers.
2024-03-18T00:00:00Z
Juliet Bennett Rylah
37: Percent of people who lie âfrequentlyâ when applying for a job, according to a 2023 ResumeLab survey of 1.9k+ workers. A slightly lower percentage â 33% â admitted to lying âonce or twice.â Job seekers often lie about their education, but theyâre not the only fibbers in the process â another study found that 40% of hiring managers also lie to applicants, often about responsibilities or growth opportunities, perFast Company.
900m: Monthly active Telegram users as of March 2024. Despite the fact that only ~25% of Americans are aware Telegram exists, the messaging platform that emphasizes privacy has seen steady growth since its 2013 debut, largely in India, South America, and Russia, perChartr.
8.5: Number of times stunt driver Logan Holladay rolled a modified Jeep Grand Cherokee for the upcoming action-comedy The Fall Guy, breaking a Guinness World Record previously achieved by Adam Kirley, who rolled an Aston Martin 7x while filming Casino Royale (2006). The stunt is called a âcannon rollâ and involves detonating a device under the vehicle to propel the car into several rolls. (You can watch Holladay do it in this video.)
4,240: Number of book titles flagged for censorship across US schools and libraries in 2023, a 65% YoY increase, per data from the American Library Association. Of those books, ~47% were by or about LGBTQ+ people or people of color. The ALA will release the top 10 most challenged book titles for Right to Read Day on April 8.
AROUND THE WEB
đ On this day: In 1933, Studebaker went bankrupt due to the Great Depression. Founded by brothers Henry and Clement Studebaker in 1852, the company made horse-drawn wagons before expanding to gas-powered cars in 1913.
đ Haha: Every apple, ranked.
đ§ Another Bite: Jorie, Ariel, and Jon break down product branding vs. company branding, and the state of raising capital in 2024.
âď¸ Thatâs interesting: The story behind a viral eclipse video shot from an Alaska Airlines flight in 2016.
đ Aww: A grape for you.
Meme
No, I have never opened them, and no, you canât delete them. (Link)
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Todayâs Fit the Bill answer is Rivian (Market cap: $10.79B)
Today's email was brought to you by Juliet Bennett Rylah and Sara Friedman. Editing by: Ben âBought a yacht and blimp separately like an idiotâ Berkley.
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