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š« The big biz of USPS
And TikTokās Oscar Producer
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This is Nick. This is Jack. And researchers just proved that dogs get jealous. The University of Auckland studied 18 different dogs, testing how each reacted when the owner approached another dog. The harder the dog pulled on the leash = the more jealous it was. So the next time you greet another dog on your morning walk, know that your Jack Russelās feeling jelly.
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1) Made-For-TikTok TV
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The producer behind Step Brothersā latest hit comedy just debuted on TikTok. This is the 1st major Hollywood production to release a series specifically for TikTok.
Oscar winner Adam McCay is the movie magician behind Anchorman, Step Brothers, Donāt Look Up, The Big Shortā¦ and now Cobell Energy, an office satire.
The premise: A family-run oil company is trying to make oil cool again. Season 1 starts with an oil spill that leads to a greenwashing scheme. (āOrganic Oil.ā So good).
Think: Succession meets Eastbound & Down ā 2 shows in McCayās HBO portfolio.
āCriticsā are saying: Itās āShockingly accurateā ā Exxon Mobil (Speaks for itself).
But plot twist: This Hollywood-backed show is on TikTok, Instagram and YouTube Shorts.
What else? Itās one of the 1st major narrative series to be shot vertically (since Quibi š ). The handheld camera style feels insider-esk, like The Office.
The Takeaway ā
The biggest screen is the smallest screen. TikTok is growing while other ways to watch are shrinking.
In terms of views: The average US adult spends 56 min/day on TikTok ā creeping up on #1 Netflixās ~62 min/day.
In terms of shareability: TV and streaming rely on word of mouth for growth (slow) šŗ, while TikTok growth requires one click to share (fast) š¤³.
Add it all up: This wonāt be the last made-for-TikTok TV seriesā¦because the biggest reach is on the smallest screen.
2) USPS Lost Your Packageā¦ and $6.5B
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The USPS expected to break even for the year ā but it actually lost $6.5B instead. Neuman š¬
What happened: Revenues were down 0.4% to $78B from the prior year. For context: $78B is barely less than UPS and FedEx (and itās more than Goldman Sachs or Coca-Cola). But 2 reasons for the mail drop:
šØ Total mail volume fell 9% (email continues to crush mail).
šØ 1st class mail fell 6% (and thatās USPSās Profit Puppy).
But give USPS some cred ā Itās financially independent: Unlike other government agencies, the post office isnāt funded primarily by taxpayers, itās funded by stamp sales and postage fees. The government chips in when it turns a loss, but for the most part, the post office doesnāt need our tax $.
The Takeaway ā
The Takeaway: USPS is not a for-profit enterprise, itās a public service.
The Post Office is legally required to do what a company wouldnāt. Unlike FedEx, it doesnāt set prices to maximize profit, it sets prices to serve every zip code in America ā itās legally obligated to. A remote location may be ignored by UPS because it isnāt profitable, but USPS has a tiny post office there. Think of the USPS as more like a library than a delivery company ā Itās a public service.
š Now some classified info from the mailroom we discovered in our research (and double-tapped on):
Benjamin Franklin was the first Postmaster General of the USPS.
The USPS is the rare government agency explicitly mentioned in the Constitution: Article 1, Sec 8, Clause 7.
The 1st Post Office was in a bar. Now the line makes you want to be at one.
Banking history: you could deposit $ in a savings account here 55+ years ago.
USPS has the largest vehicle fleet in the world (200K+ delivery trucks with steering wheels on the right-side).
The USPS says 44% of the worldās mail (!) is delivered by USPS.
And since itās a public agency, you own the USPSā¦ and are also its customer #ShowerThoughts.
On the Podā¦
š For the 1st time ever, Amazon will sell cars. Itās partnering with Hyundai to sell ācars on Amazon.comā ā To hear about how āAmazon inside carsā is the more important headline, listen to todayās pod.
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Hereās what else you need to know today ā
š Chinaās President Xi Jinping got a standing ovation from the most powerful business people ever assembled. Biden called his chat with Xi āsome of the most constructive and productive discussions weāve had.ā
š¼ Chinaās President Xi Jinping also suggested that his country may lend more giant pandas to US zoos in the future. Our panda era aināt over yetā¦
šļø Red Bull drink sales are up thanks to its Formula 1 racing team sponsorship. The Las Vegas Grand Prix is this Sunday. The Red Bull team has won 19 of the 20 races so far this season.
š Maryland just set a US record for the lowest unemployment rate in American history: 1.6%.
š„¬ Shocker: Snoop Dogg announced on Instagram that he is giving up smoking after much consideration and conversation with family.
šØ Mars, the private candy giant behind Snickers, Twix, and M&Ms, just bought Britainās chocolatier Hotel Chocolat for $600M. The brand is famous for the Velvetiser Hot Chocolate maker.
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The age of a blue whale can be checked by their earwax. Each year, they gain a layer of ear wax, so scientists can count the earwax layers.
And one more thing. How hard is your dog pulling the leash? š
āNick & Jack
FYI, the writers of this newsletter own stock of Amazon and Netflix.
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