The Best Newsletter Yet

Happy Saturday Besties,

We may be getting new emojis this summer. 🚨⭐️👨‍🌾😲🦑

On July 2nd, seven new emoji candidates are up for approval. Here’s the new additions and when to use them.

• a harp — when you want to calm the group chat after the Mavs game

• a tired face with eyebags — when asked if you picked up Chipotle

• a leafless tree — when you just shaved your legs

• a shovel — when you need to bury a mistake

• a beet — when your blood is pumping like Dwight Schrute

• a fingerprint — the alternative to saying “pics or it didn’t happen”

• a splat — when dropped it. All of it.

This week’s newsletter is 5% of the best of the pod and 95% things we had to share off the record. 

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🔺 E.l.f. Beauty stock jumped 22% last week after reporting its first $1 billion year. #glowup

• Eyes. Lips. Face = E.l.f. Now you know...

• The beauty brand has a winning strategy. The key: Operation Youths — targeting Gen Alpha & Gen Z. It specifically won’t raise the price on their $3 lipstick (despite inflation) as a signal of customer commitment💄. Plus, it had the most viral marketing campaign on TikTok #eyeslipsface so it has a reputation.

• Unheard of numbers: The cosmetic brand has grown for a stunning 21 consecutive quarters. But can they sustain this?

• Millennials, Men & International: In the fall, E.l.f acquired skincare brand Naturium. The price point is higher to go “up-generation” and appeal to Millennials… and dudes — Its userbase is 40% men. Soon, it’ll be in Ulta too.

BTW — if anyone has a go-to men’s makeup brand, asking for a friend…

The WSJ just revealed the highest-paid CEOs of 2023 — And exec pay is at a (shocker) record high…

• The caveat: Stock compensation makes up the bulk of pay. And stocks across the board are at record highs. So Chipotle’s CEO got a $22M pay package… but with $CMG stock up, the equity portion of the package is now worth $52M (guac is still extra).

Not just for the wealthy: An Ozempic copycat hit the market. Same active ingredient, but 85% lower price. Maker Hims & Hers’ stock shot up 30% on the news.

• Here’s the steal: Hims & Hers' (an online pharmacy) is offering a $199/month generic version of the $1,350/mo Ozempic. How can they do this?

• A legal loophole: Pharmacies are allowed by law to copycat patented drugs if there’s a shortage of that drug (which there is for Ozempic & Wegovy). It’s basically government-sanctioned patent infringement known as “compounding”.

• But is building a biz on a loophole business savvy? On the upside: Loopholes offer a fresh business opportunity in the market. On the downside: Loopholes are temporary, and customers can get upset when they're inevitably closed.

• Case in point: When the Ozempic shortage ends, Hims & Hers will have to shut down their copycat version and point customers to the full-priced OG.

Last week we asked…and there was a tie 😮😮

And these were the best comments yet…

• 🤑 “20% more and we can talk!”

• 🩷 “Met my best friend AND my husband at work. When it’s good, it’s good”

• 🙊 “25%+ and I’ll ditch my friends lol”

Next week we want to know: Do you shop online during the workday?

Summer drink season begins this weekend. If you’re looking to try the “it” bevy this season, AdAge whipped up a list of 8 summer drinks you’ll see filling Yeti coolers. 🍹 Some of the themes…

• Hispanic flavors: From mezcal to Modelo, the growing hispanic population is attracting new taste-makers.

• Tequila-based: Thanks to Cutwater, the king of clear is winning. For the 1st time ever, Tequila beat whiskey as the top-selling spirit in America in 2023. Taylor Swift is already on it. And Travis Kelce is invested…

• Edgy seltzers: Plain Jane seltzers are soo last year, but seltzers with personality aren’t.

• Low ABV: The NA category grew 30%+ last year, according to NielsenIQ. So drinks like Miller Extra Light are thinking they can do the same…but different.

🥤 We made our own Drink of the 2024 Summer Prediction in Thursday’s episode using 3 trend-forecasting strategies (trigger warning: wine connoisseurs may be offended).

According to a recent Harris Poll…

• Stat #1: 55% of people believe the economy is in a recession.

• Stat #2: 49% think the current unemployment rate is at a 50-year high.

• But looking at the data: The majority’s belief about the state of the US economy is incorrect — America’s economy is actually the strongest of all developed nations right now, with unemployment near a 50-year low.

• The Truth: It’s hard to find “good news” and accurate news on business, economics, and finance. So share this fantastic data (or this newsletter) with a buddy today (maybe even Buddy Timmy).

👉 Got a fact you want in this newsletter or on the pod? Submit it here. 

"Love the one you're with." Stephen Stills sang that song lyric, but we think it applies to anyone running a company too…

• Business wise: Data shows that the person most likely to buy your product is your existing customer.

• A personal example: Our core product is a daily podcast. When we’re considering a new product, the first people we should offer it to are existing Yetis (that’s why our new “TBOY Hotline” podcast is created mainly for existing listeners to enjoy).

• It’s easier to double your sales with a second product to your existing customer than it is to sell that product to an entirely new group. Crosby, Stills, & Nash (and probably even Young) would agree.

👀 Here’s the story that inspired this Takeaway… and how Sonos is targeting these headphones to 1 person only.

• Sports: Indy 500 (Sun.), US Women’s Open Golf (Starts Thurs.)

• Holidays: Memorial Day (Mon.), Ntl. Wine Day (Sat)

And subscribe to our YouTube if you’re a real one:

👂 Monday: The best chicken finger recipe…is inside an app just for employees.

👂 Tuesday: The best place for a surprise party…is Costco.

👂 Wednesday: The best place for a AI drama…is ScarJo vs ChatGPT.

👂 Thursday: The best drink this summer…comes in a party pouch.

⭐️ Friday: TBOY HOTLINE Ep. #2: Networking hacks, Wall Street #girlmath & the 5-min phone call

👀 Tuesday (no pod Monday): The best way to Black Friday… is at 11 am every Friday.

And one more thing…We attended Advertising Upfronts in NYC a couple weeks back, here are some pics with fellow podcasters. Then we celebrated “ceremoniously” a TBOY secret project win — we haven’t told anyone it…but maybe we’ll drop it here first (let us know if you think we should). How do we “ceremoniously” celebrate a win: when the babies go to sleep, we FaceTime and have a nice drink with a toast, East Coast to West coast. #CTW

This weekend: Nick’s driving down to Santa Barbara and Jack’s heading to Long Island. Highlights coming at ya next week (no Goop sightings quite yet). Stay tuned. Happy MDW.

😎😎

—Nick & Jack