Rishi Taparia - Issue #103
This week we look at Uber entry into labor staffing, consumer spending and its impact on the economy, TikTok and being a little bit famous, Bob Iger becoming Bob Iger, whisky Tide Pods and more. Enjoy!
Uber Works on demand labor staffing service launches in Chicago for gig economy
Uber is getting into the staffing game with the announcement of the long anticipated Uber Works. The basic premise is “a platform that connects workers with big and small businesses.” Similar to that of many companies going after the gig economy - Bacon, Catapult, Gig, JobToday, Limber, Rota, Shiftgig, Shiifty, Snag and Syft to name a few - Uber hopes to be the one stop shop for workers looking for hourly jobs, whether as Uber drivers or within roles like general labor, back of house or front of house. In some ways Works makes a lot of sense. Uber was a major catalyst for the gig economy, giving drivers (in theory anyway) the ability to reinvent their work-life balance with more flexible schedules. Why not extend the supply and demand model for drivers and riders out to other categories like dishwashers, cashiers or baristas and create the equivalent ‘driver rating’ for other verticals? The strategy is sound and Uber certainly has the brand awareness and heft to be a formidable competitor in the space. That said, the success will largely on a) the willingness to dedicate resources to go after a very difficult and nuanced space and b) the ability to convince staffing agencies (Uber’s first target customer) and then the businesses directly to leverage Uber technology. In my mind the latter challenge is the harder problem to solve. Uber is, at its core, a consumer company. This product is a B2B network with an entirely different level of requirements and SLAs. One can argue that they have executed on a B2B product with Uber Eats. However, Eats is primarily a demand generation product that leverages the existing driver network, so I would say it is quite different. Uber’s first true foray into the enterprise with Uber Rush didn’t end so well. Hopefully Works has a different outcome but given the challenges Uber are facing in the public markets and the focus required to get this category right, I am skeptical.
Concerns grow about whether consumers will spend as economy weakness spreads
Cracks in the economy are starting to show. Credit card debt default rates are rising, total household debt is at $13.86 trillion, $1.2 trillion higher than the previous peak of $12.68 trillion 2008 and corporate debt is sitting at close to $10 trillion, also near all time highs. This coupled with lackluster wage increases and an unemployment rate of 3.5%, a low not seen in 50 years means something is going to give. Consumers have so far been a bright spot in an otherwise flagging economy. and economists say this holiday season will be another test of their resilience.
Even so many consumers continue to feel good about their personal finances, according to the National Retail Federation’s chief economist. The question now, he said, is whether political uncertainty will offset their “willingness and ability to spend this holiday season.” Nearly 80 percent of consumers surveyed by the group said they were concerned that tariffs could lead to price increases and affect their shopping plans.
Glenlivet seaweed capsules look like whisky-filled Tide Pods
Please watch this video before reading further (I’ve also pasted it below for ease of viewing). No seriously. Watch.
That’s right, Glenlivet has introduced whisky in a pod. The story in my head of the product meeting that lead the Glenlivet Capsule Collection:
“Hey, so, we need to really make sure that we get the Millennials drink whisky. Wine, damn botanical vodkas and all the godforsaken IPAs have really been cramping our style.”
“I agree. We need to break out in a big way! But what can we do? We’ve done tasting rooms, fancy glasses and ice…heck, Jim Beam even got Mila Kunis as an endorser! Young people LOVE Family Guy.”
“I know, I know. Ok, think think think. What do the kids like these days…we could try and go viral on TikTok? Maybe get kermit to drink whisky while dancing to the Succession theme song?”
“No, that’s going to disappear too soon, and besides, Kermit sucks. What else?”
“I got it! Remember when everyone was eating Tide Pods?”
“Yeah, so?”
“What if…no wait, you’ll die…what if…*snort*…we put Glenlivet IN THE TIDE POD!”
“That’s ridiculous…”
“No trust me, it’s going to be a hit! Kids will be Instagram the CRAP out of this. It’s going to be the new jello shot! And, the best part is they don’t need any classes or stirrers or napkins…the first drink that’s good for the environment!”
“Dammit, you’re right! Let’s do it, this is going to be huge!”
The sad thing is, I think they’re right.
The Glenlivet Capsule Collection
He drinks a whiskey pod
He’s drinks a vodka pod
He drinks a lager pod
He drinks a cider pod
6:31 AM - 5 Oct 2019
TikTok famous: How the app is turning teenagers into celebrities
A little bit famous. The allure of social media summed up in four short words. The chance to be a little bit famous, not recognizable on a global stage, just recognizable to strangers.
“A little bit famous” is the domain of Instagram influencers, reality TV contestants, YouTube creators, pageant queens, and mid-roster athletes who you yourself might not recognize on the street, but someone would.
The latest platform selling the promise of 15 minutes of fame faster than the ice cream man on a 95 degree day in June is TikTok. This piece is a fascinating look the life of Haley Sharpe (@yodeling.karen) and through it, the culture and users of TikTok, the monetization (or lack there of) available to being ‘almost famous’ (everyone wants to be a YouTube star) and, more than anything, how being a teenager today is largely the same as teenagers, just with different technology.
In a Career of Reporting, These Are Stories That Still Touch Me
This week marks Nicholas Kristof’s 35th anniversary at the New York Times. Regardless of your thoughts on his politics, it’s hard to argue about his talent as a writer and storyteller. This week he shared some of the stories he has written that touched him the most ranging from The Tiananmen Massacre to a piece about children dying of malaria in India that prompted Bill and Melinda Gates to invest billions behind children’s health. An amazing compilation, each worth a read.
The Slow-Burning Success of Disney’s Bob Iger
Bob Iger is Disney’s famed CEO. He took over the top spot in the House of Mouse in 2005 and since then has taken the company to heights he admits he never imagined. He has spearheaded bold moves including buying Pixar and Marvel (which will likely go down as some of the best M&A ever), remaking Disney classics into live action, and is now transitioning the company into digital with Disney+. The crazy thing is, according to his new book ‘The Ride of a Lifetime’, Bob Iger was never supposed to be Bob Iger. This piece by Maureen Dowd is a great look into “Hollywood’s nicest C.E.O.”.
Quote I’ve been thinking about: “A leader’s job is not to put greatness into people, but rather to recognize that it already exists, and to create the environment where that greatness can emerge and grow.” - Reid Hoffman