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            PLUS: The Gap’s turnaround plan.
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                  October 27, 2020
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                  <img alt="The Hustle" src="https://inboxflows.com/_/image/https%253A%252F%252Fsailthru-media.s3.amazonaws.com%252Fcomposer%252Fimages%252Fsailthru-prod-6ks%252Fth.png/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZzYWlsdGhydS1tZSJ9:1kXNFC:UVSmwxEgM2MqrQzTLKxsfNn0GKpdH9dvSIQOAUFnIsA" style="width: 250px;" width="250"/>
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                  TOGETHER WITH
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                  <p style="font-size: 16px; line-height: 20px; margin: 0px; padding-bottom: 10px;">
                   Inspire Brands -- which owns Arby’s, Buffalo Wild Wings, and Jimmy John’s -- is in talks to take Dunkin’ Brands (which includes Baskin-Robbins) private in a multibillion-dollar deal.
                  </p>
                  <p style="font-size: 16px; line-height: 20px; margin: 0px; padding-bottom: 10px;">
                   Even more newsworthy: Dunkin’ apparently dropped “Donuts” from its name in 2019 to increase its focus on beverages? Why dafuq didn’t anyone tell us this?
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              <td style="color: #D62829; font-size: 16px; font-weight: bold; letter-spacing: 1.5px; padding: 0px 0px 10px; text-transform: uppercase;">
               The Big Idea
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               <h2 style="font-size: 22px; font-weight: bold; line-height: 26px; margin: 10px 0px 5px;">
                What Root’s IPO says about the future -- and potential ills -- of personalized insurance
               </h2>
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               <p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
                Today’s a big day for insurtech (AKA “insurance tech”), which ranks with “Brangelina” as one of the least likable portmanteaus out there.
               </p>
               <p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
                Root -- an auto insurer that has raised
                <a style="-webkit-text-fill-color: #d62829; color: #d62829; text-decoration: none;">
                 $500m+
                </a>
                -- is slated for an IPO at a valuation of
                <a style="-webkit-text-fill-color: #d62829; color: #d62829; text-decoration: none;">
                 $6B+
                </a>
                .
               </p>
               <p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
                It’s the 2nd big insurtech IPO of 2020 (Lemon went public in
                <a style="-webkit-text-fill-color: #d62829; color: #d62829; text-decoration: none;">
                 July
                </a>
                ) and shines a light on what the future of insurance might look like.
               </p>
               <h4 style="font-size: 17px; height: 100%; letter-spacing: 0px; line-height: 22px; margin: 0px; padding-top: 8px;">
                <strong>
                 The company’s beef with traditional insurance
                </strong>
               </h4>
               <p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
                In his analysis of Root, finance writer
                <a style="-webkit-text-fill-color: #d62829; color: #d62829; text-decoration: none;">
                 Marc Rubinstein
                </a>
                highlights that the insurance industry rests on 2 pillars:
               </p>
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                <li style="font-size: 15px; line-height: 140%; margin: 0 0 0 15px; padding: 0px;">
                 <strong>
                  Law of large numbers:
                 </strong>
                 Accurately predicting claims is easier with a larger (rather than smaller) book of business -- all things equal.
                 <br/>
                 <br/>
                </li>
                <li style="font-size: 15px; line-height: 140%; margin: 0 0 0 15px; padding: 0px;">
                 <strong>
                  Risk pooling:
                 </strong>
                 The insurance model relies on a larger group of people paying premiums (but not filing claims) to cover claims that do get filed (and result in large payouts).
                </li>
               </ul>
               <p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
                Root’s S-1 filing essentially says that this mode of insurance is unfair to good drivers that have to pay high premiums to cover riskier customers.
               </p>
               <h4 style="font-size: 17px; height: 100%; letter-spacing: 0px; line-height: 22px; margin: 0px; padding-top: 8px;">
                <strong>
                 Root’s motto is simple: ‘Better drivers deserve better rates’
                </strong>
               </h4>
               <p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
                The way the company delivers this service is equally simple. A user downloads the Root app, which tracks 200 factors including:
               </p>
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                 Standard details (age, gender, ZIP code)
                </li>
                <li style="font-size: 15px; line-height: 140%; margin: 0 0 0 15px; padding: 0px;">
                 More advanced analysis (braking frequency, turning speeds, phone usage while driving)
                </li>
               </ul>
               <p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
                The insurer crunches these numbers and can offer relatively cheaper policies for those who drive like Miss Daisy.
               </p>
               <p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
                Per Rubinstein, this personalized pricing is indeed “fairer, as Root highlights… [and] can influence behavior positively.”
               </p>
               <h4 style="font-size: 17px; height: 100%; letter-spacing: 0px; line-height: 22px; margin: 0px; padding-top: 8px;">
                <strong>
                 But… there’s always a but
                </strong>
               </h4>
               <p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
                Quoting the book
                <em>
                 Weapons of Math Destruction
                </em>
                , Rubinstein shows how potentially damaging Root’s insurance model can be.
               </p>
               <p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
                Instead of balancing society’s risks, personalized pricing can “pinpoint those who appear the riskiest customers and then either drive their rates to the stratosphere or, where legal, deny them coverage.”
               </p>
               <p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
                If companies like Lemon and Root are indeed the future of insurtech, we’ll have much more complex issues to deal with than an unappealing portmanteau.
               </p>
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            Snippets
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             <li style="font-size: 15px; line-height: 140%; margin: 0 0 0 15px; padding: 0px;">
              <strong>
               Zuck is coming…
              </strong>
              oft late but always with a splash, Facebook is
              <a style="color: #d62829; text-decoration: none;">
               entering
              </a>
              cloud gaming. Games will be free to play in existing FB apps.
             </li>
             <li style="font-size: 15px; line-height: 140%; margin: 0 0 0 15px; padding: 0px;">
              <strong>
               Twilio on a roll...coming off its splashy acquisition of
              </strong>
              <a style="color: #d62829; text-decoration: none;">
               <strong>
                Segment
               </strong>
              </a>
              <strong>
               ,
              </strong>
              the company’s revenue jumped
              <a style="color: #d62829; text-decoration: none;">
               +52%
              </a>
              YoY for Q3.
             </li>
             <li style="font-size: 15px; line-height: 140%; margin: 0 0 0 15px; padding: 0px;">
              <strong>
               SAP wants a mulligan
              </strong>
              after its stock
              <a style="color: #d62829; text-decoration: none;">
               tanked
              </a>
              20%+ following a brutal Q3 earnings report for the German software giant.
             </li>
             <li style="font-size: 15px; line-height: 140%; margin: 0 0 0 15px; padding: 0px;">
              <strong>
               Miss concerts?
              </strong>
              Hang in there -- Hubilo
              <a style="color: #d62829; text-decoration: none;">
               brings
              </a>
              virtual events to a device near you.
             </li>
             <li style="font-size: 15px; line-height: 140%; margin: 0 0 0 15px; padding: 0px;">
              <strong>
               A school for ants?!
              </strong>
              Maybe down the road; for now researchers at Leiden University have
              <a style="color: #d62829; text-decoration: none;">
               created
              </a>
              the world’s smallest boat -- a cell-sized tugboat using a 3D printer.
             </li>
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               I hope this finds you well
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               <a style="color: #d62829; text-decoration: none;">
                <img alt="Cameo" src="https://inboxflows.com/_/image/https%253A%252F%252Fsailthru-media.s3.amazonaws.com%252Fcomposer%252Fimages%252Fsailthru-prod-6ks%252Fb2b.png/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZzYWlsdGhydS1tZSJ9:1kXNFC:UVSmwxEgM2MqrQzTLKxsfNn0GKpdH9dvSIQOAUFnIsA" style="height: auto; max-width: 600px; width: 100%;" width="600"/>
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               <h2 style="font-size: 22px; font-weight: bold; line-height: 26px; margin: 10px 0px 5px;">
                How Cameo is breaking into the B2B market
               </h2>
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               <p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
                Celebrity shouts are coming to a
                <em>
                 business
                </em>
                <em>
                 call
                </em>
                near you.
               </p>
               <p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
                Last week, the personalized celeb video app Cameo announced its first B2B
                <a style="-webkit-text-fill-color: #d62829; color: #d62829; text-decoration: none;">
                 partnership
                </a>
                : Users of the
                <a style="-webkit-text-fill-color: #d62829; color: #d62829; text-decoration: none;">
                 Sendoso
                </a>
                platform will now be able to send messages from the likes of Michael Rapaport and Jaime Camil to customers and prospects.
               </p>
               <h4 style="font-size: 17px; height: 100%; letter-spacing: 0px; line-height: 22px; margin: 0px; padding-top: 8px;">
                <strong>
                 Cameo’s multi-pronged B2B attack
                </strong>
               </h4>
               <p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
                Cameo’s chief business officer
                <a style="-webkit-text-fill-color: #d62829; color: #d62829; text-decoration: none;">
                 Arthur Leopold
                </a>
                told
                <em>
                 The Hustle
                </em>
                that the Sendoso announcement is consistent with the firm’s mission “to create the most personalized and authentic fan connections on earth.”
               </p>
               <p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
                As a result of these efforts, “democratization of celebrity access has occurred.”
               </p>
               <p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
                In the B2B space, Cameo has 2 other offerings in addition to the Sendoso partnership:
               </p>
               <ul style="font-size: 16px; line-height: 20px; margin: 0; padding-bottom: 10px; padding-left: 12px;">
                <li style="font-size: 15px; line-height: 140%; margin: 0 0 0 15px; padding: 0px;">
                 <strong>
                  Promo Cameo:
                 </strong>
                 Talent can be booked to endorse brands. “Let’s say a normal Snoop Dogg greeting is $900,” says Leopold. “For $7.5k, he’ll do a shoutout for a local car dealership or pizza joint.”
                 <br/>
                 <br/>
                </li>
                <li style="font-size: 15px; line-height: 140%; margin: 0 0 0 15px; padding: 0px;">
                 <strong>
                  Brand Partnerships:
                 </strong>
                 Full campaigns that Cameo helps manage. For instance, Activision hired gaming personality
                 <a style="color: #d62829; text-decoration: none;">
                  Captain Price
                 </a>
                 to do 400 fan shoutouts for a new game release.
                </li>
               </ul>
               <h4 style="font-size: 17px; height: 100%; letter-spacing: 0px; line-height: 22px; margin: 0px; padding-top: 8px;">
                <strong>
                 Can there be too much of a good thing?
                </strong>
               </h4>
               <p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
                As in, will the value of a Snoop Dogg shoutout diminish if
                <em>
                 everyone
                </em>
                gets a shoutout?
               </p>
               <p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
                Leopold doesn’t think so: “Think of Justin Bieber. His image is everywhere. But if he walks down the street, he’ll still get mobbed by people to take a photo.”
               </p>
               <p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
                As unabashed fans of “
                <a style="-webkit-text-fill-color: #d62829; color: #d62829; text-decoration: none;">
                 Jimmy from Linkedin
                </a>
                ,” we’re rooting for any and all innovations in the B2B messaging space.
               </p>
               <p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
                <strong>
                 Check out (very) related coverage:
                </strong>
               </p>
               <ul style="font-size: 16px; line-height: 20px; margin: 0; padding-bottom: 10px; padding-left: 12px;">
                <li style="font-size: 15px; line-height: 140%; margin: 0 0 0 15px; padding: 0px;">
                 <em>
                  The Hustle
                 </em>
                 ’s favorite Cameo
                 <a style="color: #d62829; text-decoration: none;">
                  ever
                 </a>
                </li>
                <li style="font-size: 15px; line-height: 140%; margin: 0 0 0 15px; padding: 0px;">
                 The best Cameo videos from our
                 <a style="color: #d62829; text-decoration: none;">
                  readers
                 </a>
                </li>
                <li style="font-size: 15px; line-height: 140%; margin: 0 0 0 15px; padding: 0px;">
                 An unofficial guide to Cameo’s top-earning
                 <a style="color: #d62829; text-decoration: none;">
                  stars
                 </a>
                </li>
               </ul>
              </td>
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            <h2 style="font-size: 20px; font-weight: 800; letter-spacing: 0px; line-height: 24px; margin: 20px 0 0px;">
             <strong>
              This investing strategy is grounded in diversity
             </strong>
            </h2>
            <p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
             <a style="-webkit-text-fill-color: #d62829; color: #d62829; text-decoration: none;">
              Explore Goldman Sachs’
              <em>
               Launch With GS
              </em>
              right here.
             </a>
            </p>
            <p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
             Does investing in diversity really make an impact? Just check the stats:
            </p>
            <ul style="font-size: 16px; line-height: 20px; margin: 0; padding-bottom: 10px; padding-left: 12px;">
             <li style="font-size: 15px; line-height: 140%; margin: 0 0 0 15px; padding: 0px;">
              Companies in the top quartile for ethnic diversity are
              <strong>
               33%
              </strong>
              <strong>
               more
              </strong>
              <strong>
               likely
              </strong>
              <strong>
               to have industry-leading profitability
              </strong>
             </li>
             <li style="font-size: 15px; line-height: 140%; margin: 0 0 0 15px; padding: 0px;">
              Companies in the top quartile for gender diversity are
              <strong>
               21%
              </strong>
              <strong>
               more
              </strong>
              <strong>
               likely
              </strong>
              <strong>
               to outperform
              </strong>
             </li>
            </ul>
            <p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
             This data is the catalyst behind
             <a style="-webkit-text-fill-color: #d62829; color: #d62829; text-decoration: none;">
              <em>
               Launch With GS
              </em>
             </a>
             <em>
              ,
             </em>
             the diversity-focused investing strategy from Goldman Sachs.
            </p>
            <p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
             Through
             <a style="-webkit-text-fill-color: #d62829; color: #d62829; text-decoration: none;">
              <em>
               Launch With GS
              </em>
             </a>
             , Goldman Sachs is helping women, Black, Latinx, and other diverse entrepreneurs and investors by
             <a style="-webkit-text-fill-color: #d62829; color: #d62829; text-decoration: none;">
              increasing access to capital
             </a>
             , facilitating connections, and providing virtual resources.
            </p>
            <p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
             If you’re an entrepreneur or investor who wants to learn more, check out Goldman Sachs’
             <em>
              Launch With GS
             </em>
             here:
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              <td style="color: #D62829; font-size: 16px; font-weight: bold; letter-spacing: 1.5px; padding: 0px 0px 10px; text-transform: uppercase;">
               Life’s a Twitch
              </td>
             </tr>
             <tr>
              <td style="padding: 0 0 6px;">
               <a style="color: #d62829; text-decoration: none;">
                <img alt="Trash can" src="https://inboxflows.com/_/image/https%253A%252F%252Fsailthru-media.s3.amazonaws.com%252Fcomposer%252Fimages%252Fsailthru-prod-6ks%252FTwitch_1.png/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZzYWlsdGhydS1tZSJ9:1kXNFC:UVSmwxEgM2MqrQzTLKxsfNn0GKpdH9dvSIQOAUFnIsA" style="height: auto; width: 100%;"/>
               </a>
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              <td>
               <h2 style="font-size: 22px; font-weight: bold; line-height: 26px; margin: 3px 0px;">
                In a shady move, Twitch mass-deleted countless hours of streaming videos
               </h2>
              </td>
             </tr>
             <tr>
              <td class="h2020 ignore-defaults" style="padding: 5px 3px 0px;">
               <p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
                If you’re even a moderately successful Twitch streamer, you’ve done the following:
               </p>
               <ul style="font-size: 16px; line-height: 20px; margin: 0; padding-bottom: 10px; padding-left: 12px;">
                <li style="font-size: 15px; line-height: 140%; margin: 0 0 0 15px; padding: 0px;">
                 Put in time to hone your craft
                </li>
                <li style="font-size: 15px; line-height: 140%; margin: 0 0 0 15px; padding: 0px;">
                 Turned a hobby into a steady income
                </li>
                <li style="font-size: 15px; line-height: 140%; margin: 0 0 0 15px; padding: 0px;">
                 Built up a fan base and back catalog of content
                </li>
                <li style="font-size: 15px; line-height: 140%; margin: 0 0 0 15px; padding: 0px;">
                 Spent hours explaining to Aunt Joy what you do for a living
                </li>
               </ul>
               <p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
                For many, all of this hard work recently disappeared at the flip of a switch.
               </p>
               <h4 style="font-size: 17px; height: 100%; letter-spacing: 0px; line-height: 22px; margin: 0px; padding-top: 8px;">
                <strong>
                 What happened?
                </strong>
               </h4>
               <p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
                Last week, Twitch surprised streamers across its platform with a widely distributed notification that it had
                <a style="-webkit-text-fill-color: #d62829; color: #d62829; text-decoration: none;">
                 removed
                </a>
                content suspected of copyright infringement.
               </p>
               <p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
                The streamers -- a collection of creators with clips ranging from gaming to makeup tutorials -- were alleged to have violated the Digital Millennium Copyright Act (
                <a style="-webkit-text-fill-color: #d62829; color: #d62829; text-decoration: none;">
                 DMCA
                </a>
                ).
               </p>
               <p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
                The 1998 law “criminalizes the production and dissemination of technology, devices, or services” that are protected with copyrights.
               </p>
               <h4 style="font-size: 17px; height: 100%; letter-spacing: 0px; line-height: 22px; margin: 0px; padding-top: 8px;">
                <strong>
                 Streamers were using background music without permission
                </strong>
               </h4>
               <p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
                This
                <a style="-webkit-text-fill-color: #d62829; color: #d62829; text-decoration: none;">
                 charge
                </a>
                comes from the wet blanket known as the Recording Industry Association of America (RIAA).
               </p>
               <p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
                The distributors (e.g., Twitch) are absolved of liability as long as they respond to the complaints quickly. Under the DMCA, anyone accused of copyright infringement is allowed the chance to appeal, but Twitch denied its creators the opportunity to do so.
               </p>
               <p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
                Per one
                <a style="-webkit-text-fill-color: #d62829; color: #d62829; text-decoration: none;">
                 popular
                </a>
                streamer: “Their solution to DMCA is for creators to delete their life’s work. This is pure, gross negligence.”
               </p>
               <p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
                <em>
                 (Official footage of Twitch dealing with the DMCA issue 👇👇👇)
                </em>
               </p>
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              <td style="padding: 0px 0px 6px;">
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              <td style="color: #D62829; font-size: 16px; font-weight: bold; letter-spacing: 1.5px; padding: 0px 0px 10px; text-transform: uppercase;">
               Gap Years
              </td>
             </tr>
             <tr>
              <td style="padding: 0 0 6px;">
               <a style="color: #d62829; text-decoration: none;">
                <img alt="Kanye West" src="https://inboxflows.com/_/image/https%253A%252F%252Fsailthru-media.s3.amazonaws.com%252Fcomposer%252Fimages%252Fsailthru-prod-6ks%252Fgap.png/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZzYWlsdGhydS1tZSJ9:1kXNFC:UVSmwxEgM2MqrQzTLKxsfNn0GKpdH9dvSIQOAUFnIsA" style="height: auto; max-width: 600px; width: 100%;" width="600"/>
               </a>
              </td>
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             <tr>
              <td>
               <h2 style="font-size: 22px; font-weight: bold; line-height: 26px; margin: 10px 0px 5px;">
                The Gap’s turnaround plan includes a lot of athleisure (and Kanye)
               </h2>
              </td>
             </tr>
             <tr>
              <td class="h2020 ignore-defaults" style="padding: 5px 0px 0px;">
               <p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
                Do you remember the first time you bought some Gap khaki pants?
               </p>
               <p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
                Well, cherish those memories: Per the bankruptcy newsletter
                <a style="-webkit-text-fill-color: #d62829; color: #d62829; text-decoration: none;">
                 Petition
                </a>
                , the $8B retailer plans to shut down 350 Gap and Banana Republic stores (30% of all locations) by the end of 2023.
               </p>
               <p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
                This is part of a broader turnaround plan announced last week that will refocus efforts on fast-growing brands and ecommerce.
               </p>
               <h4 style="font-size: 17px; height: 100%; letter-spacing: 0px; line-height: 22px; margin: 0px; padding-top: 8px;">
                <strong>
                 There’s a new growth engine in town
                </strong>
               </h4>
               <p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
                In recognition that athleisure pants are 500x more comfortable than khakis or jeans for the WFH life, Gap wants to prioritize its Lululemon competitor, Athleta.
               </p>
               <p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
                While the brand is responsible for only ~10% of Gap’s $16B revenue, the plan is to open
                <a style="-webkit-text-fill-color: #d62829; color: #d62829; text-decoration: none;">
                 100
                </a>
                new Athleta stores over the next few years.
               </p>
               <h4 style="font-size: 17px; height: 100%; letter-spacing: 0px; line-height: 22px; margin: 0px; padding-top: 8px;">
                <strong>
                 Also: The Kanye x Gap partnership could be huge
                </strong>
               </h4>
               <p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
                During his recent 3-hour
                <a style="-webkit-text-fill-color: #d62829; color: #d62829; text-decoration: none;">
                 roller coaster
                </a>
                of a podcast with Joe Rogan, Kanye West said The Gap was the “Apple of apparel.”
               </p>
               <p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
                Steve Jobs, of course, famously returned to Apple and flipped its fortune around in the
                <a style="-webkit-text-fill-color: #d62829; color: #d62829; text-decoration: none;">
                 mid-’90s
                </a>
                . Could Yeezy do the same for Gap?
               </p>
               <p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
                West -- who told Rogan that he stole khaki pants as a teen -- has already had a big impact: The Gap’s stock is up ~2x since announcing its partnership with the artist in June.
               </p>
               <p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
                The halcyon days of khakis may yet survive.
               </p>
               <p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
                <em>
                 (PS. Kanye name-dropped 70+ people in the podcast. Here’s a
                </em>
                <a style="-webkit-text-fill-color: #d62829; color: #d62829; text-decoration: none;">
                 <em>
                  list
                 </em>
                </a>
                <em>
                 .)
                </em>
               </p>
              </td>
             </tr>
             <tr>
              <td>
               <table cellpadding="0" style="padding: 10px 10px 0px; width: 100%;">
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               SPONSORED
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               <h2 style="font-size: 20px; font-weight: 800; letter-spacing: 0px; line-height: 24px; margin: 20px 0 0px;">
                <strong>
                 3 tips + 5 bonus perks for a Hustle-worthy home office
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                 The Must-Haves
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               <p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
                <em>
                 (AKA, the three things that will let you do your job if all else fails)
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               <ol style="font-size: 16px;">
                <li style="font-size: 15px; line-height: 140%; margin: 0 0 0 15px; padding: 0px;">
                 An
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                  adjustable desk
                 </a>
                 that lets you stay active
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                <li style="font-size: 15px; line-height: 140%; margin: 0 0 0 15px; padding: 0px;">
                 An
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                  ergonomic chair
                 </a>
                 that works with your body to keep you healthy
                </li>
                <li style="font-size: 15px; line-height: 140%; margin: 0 0 0 15px; padding: 0px;">
                 A
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                  power strip
                 </a>
                 that can accommodate anything (and everything)
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                 The Cherries-On-Top
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               <p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
                <em>
                 (AKA, the tiny touches that will keep you sane and, dare we say, happy?)
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                 An
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                  old-school mechanical keyboard
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                 for tippy-taps
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                 A
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                  monitor arm
                 </a>
                 to make your workstation feel like a space station
                </li>
                <li style="font-size: 15px; line-height: 140%; margin: 0 0 0 15px; padding: 0px;">
                 A
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                  hilarious pig grill
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                 for long Zoom meetings
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                 A
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                  Coca-Cola Freestyle machine
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                 because treat yo’ self
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                 A dog (or, barring adoption fees, a
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                  bonsai plant
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                 )
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                    GIVEAWAY:
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                   Share The Hustle for a chance to win a MacBook Pro
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                   Hey! Do you read The Hustle? It’s the best daily business newsletter out there -- only takes 5 minutes to read. They're running a giveaway today so if you sign up using my link, we're both entered to win a MacBook Pro. Sign up here, it’s free: https://thehustle.co/?ref=950fce10a7
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            Today's email was brought to you by Trung Phan.
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            Editing by: Zachary "Risk pooling" Crockett, John T. Alouetta (French Folk Music Historian).
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            2131 THEO DR. STE F, AUSTIN, TX 78723, UNITED STATES • 415.506.7210
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