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               <img alt="The Hustle" src="https://inboxflows.com/_/image/https%253A%252F%252Fthdaily.s3-us-west-1.amazonaws.com%252Fhustlelogo-outline_20191119195758.png/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZ0aGRhaWx5LnMzLSJ9:1kXNGd:v7YFw41oUVHwNc4yqZ3PPu6XEpcAuf3FYvqlpbdf5jQ" style="width: 200px;" width="200"/>
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               TOGETHER WITH
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                <img alt="FUNDRISE" src="https://inboxflows.com/_/image/https%253A%252F%252Fthdaily.s3-us-west-1.amazonaws.com%252Ffundrise_20180113012256_20200109000349.png/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZ0aGRhaWx5LnMzLSJ9:1kXNGd:v7YFw41oUVHwNc4yqZ3PPu6XEpcAuf3FYvqlpbdf5jQ" style="width: 100px;" width="100"/>
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            <p style="margin-left: 24px;">
             <strong>
              The sports page’s would-be killer just got a boatload of cash.
             </strong>
             The subscription-centric upstart
             <em>
              The Athletic
             </em>
             raised $50m in a new round of funding. We talked to Alex Mather, the company’s CEO, about its fast rise (see highlights below). Today:
            </p>
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             <li style="font-size: 16px; line-height: 20px; padding: 4px 0;">
              Regulators stay on Big Tech’s tracks
             </li>
             <li style="font-size: 16px; line-height: 20px; padding: 4px 0;">
              GoPuff wants to be the king of snacks
             </li>
             <li style="font-size: 16px; line-height: 20px; padding: 4px 0;">
              A startup’s huge smile shows a few cracks
             </li>
            </ul>
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            <h2 style="font-size: 22px; font-weight: 800; letter-spacing: 0px; line-height: 26px; margin: 36px 5px 16px 22px;">
             <strong>
              The Golden State vanguard: Tech companies respond to California’s clampdown
             </strong>
            </h2>
            <p style="margin-left: 24px;">
             The state of California entered a new era after the clock struck midnight at the close of 2019.
            </p>
            <p style="margin-left: 24px;">
             Two major state laws took effect, and they could reshape Silicon Valley’s relationship with the lifeblood of the digital economy: real, live human beings.
            </p>
            <h4 style="border-left-color: #ff5a41; border-left-style: solid; border-left-width: 6px; display: block; font-size: 18px; height: 100%; letter-spacing: 0px; line-height: 22px; margin: 0px; padding-left: 15px;">
             <strong>
              Why the 2 measures matter
             </strong>
            </h4>
            <p style="margin-left: 24px;">
             Three weeks into 2020, we’re starting to get a clearer picture of how companies will get by in the Brave New World of California. Here’s a rundown.
            </p>
            <p style="margin-left: 24px;">
             <strong>
              Up first:
             </strong>
             Assembly Bill 5
            </p>
            <p style="margin-left: 24px;">
             <strong>
              What it does:
             </strong>
             Companies that hire independent contractors are now required to classify most of them as employees, giving them access to stronger benefits.
            </p>
            <p style="margin-left: 24px;">
             <strong>
              Why it matters:
             </strong>
             Tech companies rely on these gig workers in a
             <em>
              huge
             </em>
             way. They form the backbone of entire business models -- looking at you, Uber and DoorDash.
            </p>
            <p style="margin-left: 24px;">
             <strong>
              What’s happening now:
             </strong>
             The law is forcing the companies to rethink how they operate.
            </p>
            <ul style="font-family: Helvetica, sans-serif; font-size: 16px; line-height: 20px; margin: 0 0 0 30px; padding-bottom: 14px; padding-left: 12px;">
             <li style="font-size: 16px; line-height: 20px; padding: 4px 0;">
              Uber is testing a new feature that allows some California drivers to set their own fares,
              <em>
               The Wall Street Journal
              </em>
              <a style="color: #ff5a41; text-decoration: none;">
               reported
              </a>
              on Tuesday
             </li>
             <li style="font-size: 16px; line-height: 20px; padding: 4px 0;">
              Uber is also teaming up with other companies to raise money for a ballot initiative that would
              <a style="color: #ff5a41; text-decoration: none;">
               exempt
              </a>
              them from the new rules
             </li>
            </ul>
            <p style="margin-left: 24px;">
             <strong>
              Next:
             </strong>
             The California Consumer Privacy Act
            </p>
            <p style="margin-left: 24px;">
             <strong>
              What it does:
             </strong>
             It gives consumers new rights around how their personal information is stored and shared.
            </p>
            <p style="margin-left: 24px;">
             <strong>
              Why it matters:
             </strong>
             Users can request the information that companies have collected about them -- and the picture isn’t always pretty.
            </p>
            <p style="margin-left: 24px;">
             <strong>
              What’s happening now:
             </strong>
            </p>
            <ul style="font-family: Helvetica, sans-serif; font-size: 16px; line-height: 20px; margin: 0 0 0 30px; padding-bottom: 14px; padding-left: 12px;">
             <li style="font-size: 16px; line-height: 20px; padding: 4px 0;">
              <em>
               The Washington Post
              </em>
              <a style="color: #ff5a41; text-decoration: none;">
               spot-checked
              </a>
              Big Tech’s efforts to comply. The verdict? Spotty, at best
             </li>
             <li style="font-size: 16px; line-height: 20px; padding: 4px 0;">
              As for Uber: It’ll reveal a customer’s star rating, but not some customer service calls. The
              <em>
               Post
              </em>
              said the company “maintains other data undisclosed in CCPA requests,” too
             </li>
            </ul>
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            <h2 style="font-size: 22px; font-weight: 800; letter-spacing: 0px; line-height: 26px; margin: 36px 5px 16px 22px;">
             <strong>
              How does Rotten Tomatoes work, anyway? (Hint: It’s not all algorithms)
             </strong>
            </h2>
            <p style="margin-left: 24px;">
             Rotten Tomatoes scores -- those tomato-themed movie ratings that decide whether films are “Fresh” or “Rotten” and pop up everywhere from Google results to DirecTV listings -- are determined not by an algorithm, but by a small group of people in a conference room.
            </p>
            <p style="margin-left: 24px;">
             The Tomatometer is surprisingly low tech. But, as
             <em>
              Wired
             </em>
             <a style="-webkit-text-fill-color: #ff5a41; color: #ff5a41; text-decoration: none;">
              reports
             </a>
             , Rotten Tomatoes scores are a big deal thanks to the company’s strange history of acquisitions and partnerships.
            </p>
            <h4 style="border-left-color: #ff5a41; border-left-style: solid; border-left-width: 6px; display: block; font-size: 18px; height: 100%; letter-spacing: 0px; line-height: 22px; margin: 0px; padding-left: 15px;">
             <strong>
              First things first: How does the Tomatometer work?
             </strong>
            </h4>
            <ol style="font-size: 16px;">
             <li style="font-size: 16px; line-height: 20px; padding: 4px 0;">
              Human curators track down all reviews of a movie/TV show from a huge group of preapproved critics.
             </li>
             <li style="font-size: 16px; line-height: 20px; padding: 4px 0;">
              Those curators determine if those reviews are positive (“Fresh”) or negative (“Rotten”) -- on a totally subjective scale.
             </li>
             <li style="font-size: 16px; line-height: 20px; padding: 4px 0;">
              The percentage of positive reviews becomes the Tomatometer score: Under 60% = “Rotten”; 60% or higher = “Fresh.”
             </li>
            </ol>
            <p style="margin-left: 24px;">
             But despite the seemingly random process,
             <strong>
              Rotten Tomatoes scores are influential
             </strong>
             : ⅓ of Americans look at Rotten Tomatoes, and 63% of those people have decided not to watch something due to Rotten Tomatoes scores.
            </p>
            <h4 style="border-left-color: #ff5a41; border-left-style: solid; border-left-width: 6px; display: block; font-size: 18px; height: 100%; letter-spacing: 0px; line-height: 22px; margin: 0px; padding-left: 15px;">
             <strong>
              And Rotten Tomatoes got big almost by accident
             </strong>
            </h4>
            <p style="margin-left: 24px;">
             The company was founded in 1998 by a bunch of grad-school students who wanted to rank Jackie Chan movies.
            </p>
            <p style="margin-left: 24px;">
             But after becoming popular over the course of a decade, the site got sucked into an acquisition roller coaster:
            </p>
            <ul style="font-family: Helvetica, sans-serif; font-size: 16px; line-height: 20px; margin: 0 0 0 30px; padding-bottom: 14px; padding-left: 12px;">
             <li style="font-size: 16px; line-height: 20px; padding: 4px 0;">
              In
              <strong>
               2010
              </strong>
              -- Rotten Tomatoes bought by Flixster
             </li>
             <li style="font-size: 16px; line-height: 20px; padding: 4px 0;">
              In
              <strong>
               2011
              </strong>
              -- Flixster bought by Warner Bros.
             </li>
             <li style="font-size: 16px; line-height: 20px; padding: 4px 0;">
              In
              <strong>
               2016
              </strong>
              -- Rotten Tomatoes sold to Fandango (owned by Comcast NBCUniversal)
             </li>
            </ul>
            <p style="margin-left: 24px;">
             Then, under Comcast NBCUniversal ownership, Rotten Tomatoes partnered with huge movie-distributing platforms, including Google, Apple, and DirecTV -- which helped make the Tomatometer score a nearly universal (and very subjective) indicator of whether a movie sucks.
            </p>
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                 »
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                 Certified Fresh
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            <h2 style="font-size: 22px; font-weight: 800; letter-spacing: 0px; line-height: 26px; margin: 36px 5px 16px 22px;">
             <strong>
              2019 was a big year for real estate investing
             </strong>
            </h2>
            <p style="margin-left: 24px;">
             And
             <a style="-webkit-text-fill-color: #ff5a41; color: #ff5a41; text-decoration: none;">
              Fundrise
             </a>
             , our fav real estate investing platform, was
             <em>
              extra
             </em>
             busy. Last year, they…
            </p>
            <ul style="font-family: Helvetica, sans-serif; font-size: 16px; line-height: 20px; margin: 0 0 0 30px; padding-bottom: 14px; padding-left: 12px;">
             <li style="font-size: 16px; line-height: 20px; padding: 4px 0;">
              Reached over $4.7B in total property value
             </li>
             <li style="font-size: 16px; line-height: 20px; padding: 4px 0;">
              Acquired 75+ new assets
             </li>
             <li style="font-size: 16px; line-height: 20px; padding: 4px 0;">
              Launched their new iOS mobile app
             </li>
            </ul>
            <h4 style="border-left-color: #ff5a41; border-left-style: solid; border-left-width: 6px; display: block; font-size: 18px; height: 100%; letter-spacing: 0px; line-height: 22px; margin: 0px; padding-left: 15px;">
             <a style="color: #ff5a41; text-decoration: none;">
              <strong>
               Fundrise
              </strong>
             </a>
             <strong>
              loaded up the office trophy cabinet, too…
             </strong>
            </h4>
            <p style="margin-left: 24px;">
             They snagged a spot on
             <strong>
              Forbes’ Fintech 50
             </strong>
             list for the 4th straight year, and were recognized by
             <strong>
              Deloitte Fast Tech 500
             </strong>
             and
             <strong>
              Inc 5000
             </strong>
             as one of the fastest growing companies in America.
            </p>
            <p style="margin-left: 24px;">
             And they’re just getting started, folks.
            </p>
            <p style="margin-left: 24px;">
             Kick 2020 off right by investing with Fundrise -- they offer a smart, simple, and award-winning way to
             <a style="-webkit-text-fill-color: #ff5a41; color: #ff5a41; text-decoration: none;">
              get into the real estate game
             </a>
             .
            </p>
           </td>
          </tr>
          <tr id="cta">
           <td id="link" style="padding: 10px 0 30px;">
            <table class="emailshare" style="border-spacing: 0; font-family: 'Helvetica',sans-serif; margin: auto;">
             <tbody>
              <tr>
               <td bgcolor="#ff5a41" style="background: #ff5a41; border: 3px none; border-radius: 40px; font-size: 14px; padding: 10px 20px; vertical-align: top;" valign="top">
                <a style="color: white; font-size: 13px; font-weight: bold; line-height: 21px; text-decoration: none;">
                 Let’s get to it  →
                </a>
               </td>
              </tr>
             </tbody>
            </table>
           </td>
          </tr>
          <tr id="disclaimer">
           <td style="color: #717171 !important; font-size: 10px !important; font-style: italic; line-height: 120%;">
            <p style="font-family: arial, sans-serif; font-size: 10px; line-height: 120%; margin: 0; padding-bottom: 12px;">
             <em>
              <strong>
               FINE-ISH PRINT:
              </strong>
              If legal terms and disclaimers are your jam, call this
              <a style="color: #ed4d1f; text-decoration: none;">
               Fundrise page jelly
              </a>
              .
             </em>
            </p>
           </td>
          </tr>
          <tr>
           <td style="border-bottom-color: #dddddd; border-bottom-style: solid; border-bottom-width: 1px;">
           </td>
          </tr>
          <!-- END NATIVE -->
          <!-- START SPUNKY BRIEF -->
          <tr>
           <td class="brief-style ignore-defaults" style="font-family: Helvetica, sans-serif; font-size: 16px; letter-spacing: .3px; line-height: 20px; padding-right: 5px; padding-top: 0px; right: 5px;">
            <h2 style="font-size: 22px; font-weight: 800; letter-spacing: 0px; line-height: 26px; margin: 36px 5px 16px 22px;">
             <strong>
              Can a snack-slinging startup deliver big profits? SoftBank hopes so
             </strong>
            </h2>
            <p style="margin-left: 24px;">
             A snack delivery startup called goPuff received $750m in investment from SoftBank this past summer,
             <em>
              The Information
             </em>
             <a style="-webkit-text-fill-color: #ff5a41; color: #ff5a41; text-decoration: none;">
              reports
             </a>
             .
            </p>
            <p style="margin-left: 24px;">
             Now, goPuff has to figure out if it can continue delivering growth despite heavy competition from competitors like DoorDash and Grubhub.
            </p>
            <h4 style="border-left-color: #ff5a41; border-left-style: solid; border-left-width: 6px; display: block; font-size: 18px; height: 100%; letter-spacing: 0px; line-height: 22px; margin: 0px; padding-left: 15px;">
             <strong>
              GoPuff started out catering to college kids
             </strong>
            </h4>
            <p style="margin-left: 24px;">
             When it was founded in Philadelphia in
             <a style="-webkit-text-fill-color: #ff5a41; color: #ff5a41; text-decoration: none;">
              2013
             </a>
             , goPuff focused on convenience items popular among college-aged consumers, and today its most popular items are still Doritos, Gushers, Gatorade, Flamin’ Hot Cheetos, and Juul pods.
            </p>
            <p style="margin-left: 24px;">
             Unlike other delivery companies like DoorDash, which send gig workers back-and-forth between food-sellers and customers, goPuff pays drivers to deliver all its orders from its own warehouses.
            </p>
            <p style="margin-left: 24px;">
             But now goPuff will have to focus on expanding behind the munchies market...
            </p>
            <h4 style="border-left-color: #ff5a41; border-left-style: solid; border-left-width: 6px; display: block; font-size: 18px; height: 100%; letter-spacing: 0px; line-height: 22px; margin: 0px; padding-left: 15px;">
             <strong>
              And there are a lot of hungry players in the delivery biz
             </strong>
            </h4>
            <p style="margin-left: 24px;">
             GoPuff will have to carve out its piece of the pie in an incredibly competitive market -- something that has proven difficult for other
             <a style="-webkit-text-fill-color: #ff5a41; color: #ff5a41; text-decoration: none;">
              SoftBank-funded startups in crowded markets
             </a>
             like Brandless (ecommerce), Wag (dog-walking), or Compass (real estate).
            </p>
            <p style="margin-left: 24px;">
             These are the biggest companies in the industry by
             <a style="-webkit-text-fill-color: #ff5a41; color: #ff5a41; text-decoration: none;">
              market share
             </a>
             :
            </p>
            <ul style="font-family: Helvetica, sans-serif; font-size: 16px; line-height: 20px; margin: 0 0 0 30px; padding-bottom: 14px; padding-left: 12px;">
             <li style="font-size: 16px; line-height: 20px; padding: 4px 0;">
              <strong>
               DoorDash
              </strong>
              : 33%
             </li>
             <li style="font-size: 16px; line-height: 20px; padding: 4px 0;">
              <strong>
               Grubhub
              </strong>
              : 32%
             </li>
             <li style="font-size: 16px; line-height: 20px; padding: 4px 0;">
              <strong>
               Uber Eats
              </strong>
              : 19%
             </li>
             <li style="font-size: 16px; line-height: 20px; padding: 4px 0;">
              <strong>
               Postmates
              </strong>
              : 10%
             </li>
             <li style="font-size: 16px; line-height: 20px; padding: 4px 0;">
              All
              <strong>
               others
              </strong>
              : 6%
             </li>
            </ul>
           </td>
          </tr>
          <tr>
           <td style="border-bottom-color: #dddddd; border-bottom-style: solid; border-bottom-width: 1px; padding: 10px 0px 40px 25px;">
            <table style="border-spacing: 0; font-family: 'Helvetica',sans-serif;">
             <tbody>
              <tr>
               <td align="center" bgcolor="#000000" style="background: #000000; border: 2px solid #000000; border-radius: 3px 0 0 3px; font-size: 14px; height: 21px; padding: 0; text-align: center; vertical-align: middle; width: 21px;" valign="middle">
                <span style="color: #ffffff; display: block; float: none; font-weight: bold; text-align: center;">
                 »
                </span>
               </td>
               <td style="border-color: #000; border-radius: 0 3px 3px 0; border-style: solid; border-width: 2px 2px 2px 0; font-size: 14px; padding: 0 8px; vertical-align: top;" valign="top">
                <a style="color: #000000; font-size: 12px; font-weight: bold; line-height: 21px; text-decoration: none;">
                 goPuff or goPass?
                </a>
               </td>
              </tr>
             </tbody>
            </table>
           </td>
          </tr>
          <!-- END SPUNKY BRIEF -->
          <!-- START THINGS HEADER -->
          <tr>
           <td align="left" bgcolor="#000000" style="background: #000000; color: #ffffff; font-family: 'Helvetica',sans-serif; font-size: 16px; font-weight: bold; letter-spacing: 1px; padding: 8px 10px 8px 25px; text-align: left; width: 100%;">
            The Hustle says...
           </td>
          </tr>
          <tr>
           <td bgcolor="#ffffff" style="padding-top: 20px;" valign="top">
           </td>
          </tr>
          <!-- END THINGS HEADER -->
          <tr>
           <td class="brief-style" style="font-family: Helvetica, sans-serif; font-size: 16px; letter-spacing: .3px; line-height: 20px; padding: 10px 5px 0px 25px;">
            <div style="font-family: Helvetica, sans-serif; font-size: 15px; padding-bottom: 0px;">
             <p style="font-family: Helvetica, sans-serif; font-size: 16px; line-height: 20px; margin: 0px; padding-bottom: 12px;">
              <strong>
               How do I stay hydrated enough to write all the ads, you might wonder?
              </strong>
              With
              <a style="-webkit-text-fill-color: #ff5a41; color: #ff5a41; text-decoration: none;">
               this 30oz Yeti mug
              </a>
              . I fill it with water, I drink the water, I
              <em>
               am
              </em>
              the water.
             </p>
            </div>
           </td>
          </tr>
          <tr>
           <td class="brief-style" style="font-family: Helvetica, sans-serif; font-size: 16px; letter-spacing: .3px; line-height: 20px; padding: 10px 5px 0px 25px;">
            <div style="font-family: Helvetica, sans-serif; font-size: 15px; padding-bottom: 0px;">
             <p style="font-family: Helvetica, sans-serif; font-size: 16px; line-height: 20px; margin: 0px; padding-bottom: 12px;">
              <strong>
               If you want to build a support team so amazing, customers will invite them to their wedding,
              </strong>
              then you need to
              <a style="-webkit-text-fill-color: #ff5a41; color: #ff5a41; text-decoration: none;">
               check out this guide from Aircall
              </a>
              -- the phone system for modern eCommerce companies.*
             </p>
            </div>
           </td>
          </tr>
          <tr>
           <td class="brief-style" style="font-family: Helvetica, sans-serif; font-size: 16px; letter-spacing: .3px; line-height: 20px; padding: 10px 5px 0px 25px;">
            <div style="font-family: Helvetica, sans-serif; font-size: 15px; padding-bottom: 0px;">
             <p style="font-family: Helvetica, sans-serif; font-size: 16px; line-height: 20px; margin: 0px; padding-bottom: 12px;">
              <strong>
               You know what they say, “Dress for success.” Now, you can do it in bed.
              </strong>
              <a style="-webkit-text-fill-color: #ff5a41; color: #ff5a41; text-decoration: none;">
               Lunya
              </a>
              is the luxury sleepwear women like us need -- washable silk, elevated design, and comfortable af.*
             </p>
            </div>
           </td>
          </tr>
          <tr>
           <td class="brief-style" style="font-family: Helvetica, sans-serif; font-size: 16px; letter-spacing: .3px; line-height: 20px; padding: 10px 5px 0px 25px;">
            <div style="font-family: Helvetica, sans-serif; font-size: 15px; padding-bottom: 0px;">
             <p style="font-family: Helvetica, sans-serif; font-size: 16px; line-height: 20px; margin: 0px; padding-bottom: 12px;">
              <strong>
               Coming back from holiday PTO suuuucks.
              </strong>
              Make it a little easier (and get 2020 started on the right foot) with
              <a style="-webkit-text-fill-color: #ff5a41; color: #ff5a41; text-decoration: none;">
               this guide to pain-free kickoff meetings
              </a>
              from Owl Labs.*
             </p>
            </div>
           </td>
          </tr>
          <tr>
           <td class="brief-style" style="font-family: Helvetica, sans-serif; font-size: 16px; letter-spacing: .3px; line-height: 20px; padding: 10px 5px 0px 25px;">
            <div style="font-family: Helvetica, sans-serif; font-size: 15px; padding-bottom: 0px;">
             <p style="font-family: Helvetica, sans-serif; font-size: 16px; line-height: 20px; margin: 0px; padding-bottom: 12px;">
              <strong>
               Feeling overwhelmed? Get a virtual assistant.
              </strong>
              Zirtual provides US-based, college educated VAs to giants like Google and Uber
              <em>
               and
              </em>
              rising stars like Bench and Azoti.
              <a style="-webkit-text-fill-color: #ff5a41; color: #ff5a41; text-decoration: none;">
               <strong>
                Click here
               </strong>
              </a>
              to get $200 off your first month.*
             </p>
            </div>
           </td>
          </tr>
          <tr>
           <td>
            <p style="font-family: Helvetica, sans-serif; font-size: 12px; line-height: 120%; margin: 0; padding-bottom: 12px;">
             *This is a sponsored post.
            </p>
           </td>
          </tr>
          <tr>
           <td style="padding-bottom: 30px;">
           </td>
          </tr>
          <tr>
           <td style="border-bottom-color: #dddddd; border-bottom-style: solid; border-bottom-width: 1px; padding-top: 0px;">
           </td>
          </tr>
          <tr>
           <td style="padding-bottom: 0px;">
           </td>
          </tr>
          <!-- START SPUNKY BRIEF -->
          <tr>
           <td class="brief-style ignore-defaults" style="font-family: Helvetica, sans-serif; font-size: 16px; letter-spacing: .3px; line-height: 20px; padding-right: 5px; padding-top: 0px; right: 5px;">
            <h2 style="font-size: 22px; font-weight: 800; letter-spacing: 0px; line-height: 26px; margin: 36px 5px 16px 22px;">
             <strong>
              You can straighten your teeth yourself. But what if it doesn’t leave you smiling?
             </strong>
            </h2>
            <p style="margin-left: 24px;">
             When it comes to beautifying crooked teeth, SmileDirectClub encourages its customers to open wide.
            </p>
            <p style="margin-left: 24px;">
             But when it comes to consumer complaints, the purple-hued company apparently wants people to shut up instead,
             <em>
              The New York Times
             </em>
             <a style="-webkit-text-fill-color: #ff5a41; color: #ff5a41; text-decoration: none;">
              reports
             </a>
             .
            </p>
            <p style="margin-left: 24px;">
             Even in the crowded -- and growing -- world of startups focused on health, SDC’s efforts to silence potential critics are unusual.
            </p>
            <h4 style="border-left-color: #ff5a41; border-left-style: solid; border-left-width: 6px; display: block; font-size: 18px; height: 100%; letter-spacing: 0px; line-height: 22px; margin: 0px; padding-left: 15px;">
             <strong>
              How SDC came to dominate its market
             </strong>
            </h4>
            <p style="margin-left: 24px;">
             The company grew after it plastered the airwaves and social media with ads and saw a surge in patients. It rode the wave to an IPO in September, but the offering turned out to be one of the year’s most
             <a style="-webkit-text-fill-color: #ff5a41; color: #ff5a41; text-decoration: none;">
              unsuccessful
             </a>
             .
            </p>
            <p style="margin-left: 24px;">
             SDC says its service is more convenient for people who don’t have time for multiple trips to the dentist -- not to mention more affordable.
            </p>
            <p style="margin-left: 24px;">
             But some experts are worried that companies like it
             <a style="-webkit-text-fill-color: #ff5a41; color: #ff5a41; text-decoration: none;">
              flourish
             </a>
             inside a broken system, where mainstream care is out of reach for too many people.
            </p>
            <h4 style="border-left-color: #ff5a41; border-left-style: solid; border-left-width: 6px; display: block; font-size: 18px; height: 100%; letter-spacing: 0px; line-height: 22px; margin: 0px; padding-left: 15px;">
             <strong>
              Scrutiny of SDC’s practices is growing
             </strong>
            </h4>
            <p style="margin-left: 24px;">
             <em>
              Kaiser Health News
             </em>
             <a style="-webkit-text-fill-color: #ff5a41; color: #ff5a41; text-decoration: none;">
              reported
             </a>
             that SmileDirectClub is facing a tide of lawsuits and consumer complaints. 1,600+ have been filed nationally with the Better Business Bureau in the last few years alone.
            </p>
            <p style="margin-left: 24px;">
             The company told the
             <em>
              Times
             </em>
             that the vast majority of those complaints were related to shipping concerns, with 3% covering clinical issues.
            </p>
           </td>
          </tr>
          <tr>
           <td style="border-bottom-color: #dddddd; border-bottom-style: solid; border-bottom-width: 1px; padding: 10px 0px 40px 25px;">
            <table style="border-spacing: 0; font-family: 'Helvetica',sans-serif;">
             <tbody>
              <tr>
               <td align="center" bgcolor="#000000" style="background: #000000; border: 2px solid #000000; border-radius: 3px 0 0 3px; font-size: 14px; height: 21px; padding: 0; text-align: center; vertical-align: middle; width: 21px;" valign="middle">
                <span style="color: #ffffff; display: block; float: none; font-weight: bold; text-align: center;">
                 »
                </span>
               </td>
               <td style="border-color: #000; border-radius: 0 3px 3px 0; border-style: solid; border-width: 2px 2px 2px 0; font-size: 14px; padding: 0 8px; vertical-align: top;" valign="top">
                <a style="color: #000000; font-size: 12px; font-weight: bold; line-height: 21px; text-decoration: none;">
                 Don’t say ahhh
                </a>
               </td>
              </tr>
             </tbody>
            </table>
           </td>
          </tr>
          <!-- END SPUNKY BRIEF -->
          <!-- START SPUNKY BRIEF -->
          <tr>
           <td class="brief-style ignore-defaults" style="font-family: Helvetica, sans-serif; font-size: 16px; letter-spacing: .3px; line-height: 20px; padding-right: 5px; padding-top: 0px; right: 5px;">
            <h2 style="font-size: 22px; font-weight: 800; letter-spacing: 0px; line-height: 26px; margin: 36px 5px 16px 22px;">
             <strong>
              The Athletic receives new funding and a $500m valuation
             </strong>
            </h2>
            <p style="margin-left: 24px;">
             Alex Mather, co-founder of the subscription sports site
             <em>
              The Athletic
             </em>
             , infamously
             <a style="-webkit-text-fill-color: #ff5a41; color: #ff5a41; text-decoration: none;">
              told
             </a>
             <em>
              The New York Times
             </em>
             that his company planned to “suck (newspapers) dry.” Turns out,
             <em>
              The Athletic
             </em>
             is operating in an almost entirely different universe than traditional media companies.
            </p>
            <p style="margin-left: 24px;">
             The company just landed $50m in Series D funding,
             <em>
              Axios
             </em>
             reports, bringing its total investment haul to ~$140m. The 4-year-old company is valued at $500m. For comparison:
             <em>
              The Washington Post
             </em>
             sold to Jeff Bezos for $250m in 2013.
            </p>
            <p style="margin-left: 24px;">
             Mather recently talked to us about how he built
             <em>
              The Athletic
             </em>
             and his future plans for the site.
            </p>
            <h4 style="border-left-color: #ff5a41; border-left-style: solid; border-left-width: 6px; display: block; font-size: 18px; height: 100%; letter-spacing: 0px; line-height: 22px; margin: 0px; padding-left: 15px;">
             <strong>
              From a text file to reality
             </strong>
            </h4>
            <p style="margin-left: 24px;">
             Mather still has a text-editor file saved from August 18, 2011, in which he jotted down a few thoughts on the state of sports media. Among his musings:
            </p>
            <ul style="font-family: Helvetica, sans-serif; font-size: 16px; line-height: 20px; margin: 0 0 0 30px; padding-bottom: 14px; padding-left: 12px;">
             <li style="font-size: 16px; line-height: 20px; padding: 4px 0;">
              Local newspapers were laying off expert reporters because of financial issues
             </li>
             <li style="font-size: 16px; line-height: 20px; padding: 4px 0;">
              And the smart, flavorful coverage he enjoyed by Bill Simmons and his (now-defunct) Grantland site was focused on major national stories
             </li>
            </ul>
            <p style="margin-left: 24px;">
             “My local teams weren’t covered,” says Mather, who is from the Philly area. “I thought there was a big company to build.”
            </p>
            <h4 style="border-left-color: #ff5a41; border-left-style: solid; border-left-width: 6px; display: block; font-size: 18px; height: 100%; letter-spacing: 0px; line-height: 22px; margin: 0px; padding-left: 15px;">
             <strong>
              More than 8 years later, this is how that company looks
             </strong>
            </h4>
            <ul style="font-family: Helvetica, sans-serif; font-size: 16px; line-height: 20px; margin: 0 0 0 30px; padding-bottom: 14px; padding-left: 12px;">
             <li style="font-size: 16px; line-height: 20px; padding: 4px 0;">
              Nearly 1m subscribers who pay ~$60 a year
             </li>
             <li style="font-size: 16px; line-height: 20px; padding: 4px 0;">
              An 80% retention rate for subscribers, most of whom come to the site via word-of-mouth
             </li>
             <li style="font-size: 16px; line-height: 20px; padding: 4px 0;">
              A model where ~90% of total spending has gone to hiring 550 journalists
             </li>
            </ul>
            <p style="margin-left: 24px;">
             Other online news sites have received similarly flush valuations (VICE at
             <a style="-webkit-text-fill-color: #ff5a41; color: #ff5a41; text-decoration: none;">
              $5.7B
             </a>
             , BuzzFeed
             <a style="-webkit-text-fill-color: #ff5a41; color: #ff5a41; text-decoration: none;">
              at $1.7B
             </a>
             ) before losing favor -- and big money. But
             <em>
              The Athletic
             </em>
             investor Eric Stromberg
             <a style="-webkit-text-fill-color: #ff5a41; color: #ff5a41; text-decoration: none;">
              said
             </a>
             he expects the site to be profitable next year because of low consumer acquisition costs.
            </p>
            <p style="margin-left: 24px;">
             <strong>
              Want more insights on
             </strong>
             <em>
              <strong>
               The Athletic
              </strong>
             </em>
             <strong>
              ’s rise?
             </strong>
             Read our full
             <a style="-webkit-text-fill-color: #ff5a41; color: #ff5a41; text-decoration: none;">
              Trends profile
             </a>
             .
            </p>
           </td>
          </tr>
          <tr>
           <td style="border-bottom-color: #dddddd; border-bottom-style: solid; border-bottom-width: 1px; padding: 10px 0px 40px 25px;">
            <table style="border-spacing: 0; font-family: 'Helvetica',sans-serif;">
             <tbody>
              <tr>
               <td align="center" bgcolor="#000000" style="background: #000000; border: 2px solid #000000; border-radius: 3px 0 0 3px; font-size: 14px; height: 21px; padding: 0; text-align: center; vertical-align: middle; width: 21px;" valign="middle">
                <span style="color: #ffffff; display: block; float: none; font-weight: bold; text-align: center;">
                 »
                </span>
               </td>
               <td style="border-color: #000; border-radius: 0 3px 3px 0; border-style: solid; border-width: 2px 2px 2px 0; font-size: 14px; padding: 0 8px; vertical-align: top;" valign="top">
                <a style="color: #000000; font-size: 12px; font-weight: bold; line-height: 21px; text-decoration: none;">
                 The Athletic is now valued at $500m
                </a>
               </td>
              </tr>
             </tbody>
            </table>
           </td>
          </tr>
          <!-- END SPUNKY BRIEF -->
          <!-- START EXTRA HTML -->
          <!-- Start Spunky Podcast -->
          <tr>
           <td bgcolor="#ececec" style="background: #FFFFFF; color: #000000; font-family: Helvetica, sans-serif; font-size: 16px; line-height: 20px; padding: 1px 15px 5px 25px;" valign="top">
            <h2 style="font-family: Helvetica, sans-serif; font-size: 22px; font-weight: bold; line-height: 26px; margin-bottom: 16px; margin-top: 36px;">
             🎧 From $5k and a $300 laptop to a 7 figure exit with Amazon FBA!
            </h2>
            <center>
             <p style="font-family: Helvetica, sans-serif; font-size: 16px; line-height: 20px; margin: 0px; padding-bottom: 12px;">
              <img andersen="" image="" paul="" src="https://inboxflows.com/_/image/https%253A%252F%252Fthdaily.s3-us-west-1.amazonaws.com%252FPaul_20200122032037.png/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZ0aGRhaWx5LnMzLSJ9:1kXNGd:v7YFw41oUVHwNc4yqZ3PPu6XEpcAuf3FYvqlpbdf5jQ" style="height: auto; max-width: 450px; width: 90%;"/>
             </p>
            </center>
            <p style="font-family: Helvetica, sans-serif; font-size: 16px; line-height: 20px; margin: 0px; padding-bottom: 12px;">
            </p>
            <p style="font-family: Helvetica, sans-serif; font-size: 16px; line-height: 20px; margin: 0px; padding-bottom: 12px;">
             Ever think your side-hustle could become a million-dollar company?
            </p>
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             Paul Anderson did. Today on
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              My First Million
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             , we sit down with Paul who quit his 9-to-5 to focus on his Amazon FBA and how his passion became a full-blown multi-million dollar company. Side hustles, getting ‘em out there, increasing your profits, credit lines and more this week!
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               REFERRALS
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                YOUR UNIQUE URL
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                   <br/>
                   Conor Grant
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                    STAFF WRITER
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                   <br/>
                   Nick DeSantis
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                    STAFF WRITER/EDITOR
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                   </a>
                   <br/>
                   Mark Dent
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                    SENIOR WRITER
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                   <br/>
                   Bobby Durben
                   <br/>
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                    AD WRITER
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                   <img alt="Meg Furey-Marquess" src="https://inboxflows.com/_/image/https%253A%252F%252Fthdaily.s3-us-west-1.amazonaws.com%252FMeg_20191119212559.png/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZ0aGRhaWx5LnMzLSJ9:1kXNGd:v7YFw41oUVHwNc4yqZ3PPu6XEpcAuf3FYvqlpbdf5jQ" style="padding-bottom: 10px; width: 60px;"/>
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                   Meg Furey-Marquess
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                 Brad "California Dreamin’" Wolverton
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                 HEAD OF CONTENT
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                Frank Lee Dunn
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                 VP of Portion Control
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            251 KEARNY ST. STE 300, SAN FRANCISCO, CA 94108, UNITED STATES • 415.506.7210
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