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An erectile dysfunction startup raised $88m to help smokers kick their stinky habit.
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<a style="color: #000000; font-family: 'Courier New',courier,monospace; font-size: 22px; font-weight: bold; letter-spacing: -1px; line-height: 100%; text-decoration: none;">
The Hustle
</a>
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Sponsored by
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<h2 style="font-size: 26px; font-weight: bold; line-height: 120%; margin-bottom: 16px; margin-top: 36px;">
<strong>
Ro, an erectile dysfunction startup, raised $88m to help you quit your smoking habit
</strong>
</h2>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
Spoiler alert: Smoking is bad for you. With
<a style="color: #ed4d1f; text-decoration: none;">
22.5%
</a>
of all adults bangin’ heats on the reg, it’s the most prevalent addiction worldwide and the cause of disease for more than
<a style="color: #ed4d1f; text-decoration: none;">
16m Americans
</a>
.
</p>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
Now, a New York-based telehealth startup, known for selling ED medication online, has raised
<a style="color: #ed4d1f; text-decoration: none;">
$88m
</a>
to launch a new product to help people quit smoking.
</p>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
Ro rolled out Zero, a $129 “Quit Kit” that contains a month’s prescription of the cessation medication bupropion, nicotine gum, and -- of course -- a progress tracking app designed to keep quitters motivated.
</p>
<h4 style="font-size: 18px; font-weight: bold; margin-bottom: 8px; margin-top: 16px;">
<strong>
The startup formerly known as ‘Roman’
</strong>
</h4>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
Roman was founded 11 months ago, raising $3m in 2017 (back when it had only 5 employees) to launch as an online ED medication platform.
</p>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
Today, according to
<a style="color: #ed4d1f; text-decoration: none;">
<em>
TechCrunch
</em>
</a>
<em>
,
</em>
the newly renamed ‘Ro’ (cuz it ain’t just for “man” anymore) has grown to 70 employees and a revenue run-rate in the “10s of millions” -- up a whopping 720% since January.
</p>
<h4 style="font-size: 18px; font-weight: bold; margin-bottom: 8px; margin-top: 16px;">
<strong>
Investors see Zero as a sure bet, but doctors… not so much
</strong>
</h4>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
Many medical professionals have pointed out that the $129 Quit Kit is fairly expensive compared to other alternatives, and they don’t take insurance.
</p>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
<a style="color: #ed4d1f; text-decoration: none;">
<em>
Forbes
</em>
</a>
notes that, under the Affordable Care Act, most health insurance plans are required to cover at least 3 months of an FDA-approved smoking cessation medication.
</p>
<h4 style="font-size: 18px; font-weight: bold; margin-bottom: 8px; margin-top: 16px;">
<strong>
What Ro really sells is convenience
</strong>
</h4>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
Nobody wants to talk to their doctor about the sniffles, let alone erectile woes, and with Ro’s cloud based services, Zero’s biggest
<a style="color: #ed4d1f; text-decoration: none;">
selling point
</a>
is that people can do all of this from their computer.
</p>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
According to CEO Zachariah Reitano, no one has ever come out with a product that provides both the medication and behavioral therapy for quitting cigs. Until now.
</p>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
With Zero, smokers get everything they need to help curb their habit all at once, so they can focus on the true challenge: Not putting the cancer stick in the mouth hole.
</p>
</td>
</tr>
<!-- START SHARING -->
<tr>
<td align="center" id="link" style="font-family: 'Courier New',courier,monospace; font-size: 26px; line-height: 120%; padding: 15px 0; text-align: center;">
The future of Big Pharma?
</td>
</tr>
<tr>
<td>
<table style="text-align: center; width: 100%;">
<tbody>
<tr>
<td align="center" style="display: inline-block; padding: 5px 0; text-align: center;">
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</a>
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<!-- START BRIEF -->
<tr id="news1">
<td>
<h2 style="font-size: 26px; font-weight: bold; line-height: 120%; margin-bottom: 16px; margin-top: 36px;">
<strong>
Move over, Monsanto: Ag-tech startup Indigo raises another $250m to grow farming’s future
</strong>
</h2>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
Yesterday, Indigo Agriculture, an ag-tech startup, announced it closed a
<a style="color: #ed4d1f; text-decoration: none;">
$250m
</a>
fundraising round at a $3.5B valuation. The company sells microbe-coated seeds that increase yields
<a style="color: #ed4d1f; text-decoration: none;">
15%
</a>
-- and recently sprouted a 2nd product,
<a style="color: #ed4d1f; text-decoration: none;">
Indigo Marketplace
</a>
.
</p>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
With
<a style="color: #ed4d1f; text-decoration: none;">
$6B
</a>
of grain listed already, Indigo’s marketplace is growing faster than a dandelion on pesticides -- proving ag startups can hang with big dog Monsanto.
</p>
<h4 style="font-size: 18px; font-weight: bold; margin-bottom: 8px; margin-top: 16px;">
<strong>
Cultivating trust to cultivate wheat
</strong>
</h4>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
To win over the change-resistant farming industry, Indigo offered farmers seeds for 7 major crops for free, charging after the seeds
<em>
produced
</em>
. Indigo quickly won contracts with thousands of farmers across
<a style="color: #ed4d1f; text-decoration: none;">
1m acres
</a>
.
</p>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
But, Indigo realized its seeds weren’t living up to their full value: Outdated commodities markets were forcing producers to sell grain for a flat price -- preventing farmers from differentiating themselves and buyers from finding great grains for foods.
</p>
<h4 style="font-size: 18px; font-weight: bold; margin-bottom: 8px; margin-top: 16px;">
<strong>
So Indigo decided to make these farmers a
</strong>
<em>
<strong>
new
</strong>
</em>
<strong>
market
</strong>
</h4>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
Indigo Marketplace allows grain-iacs to search for grains based on protein content, milling quality, or organic certification and buy directly -- empowering farmers to earn more for their high-quality grains.
</p>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
Since the marketplace launched in June, farmers have posted more than
<a style="color: #ed4d1f; text-decoration: none;">
$6B
</a>
worth of grain (and sold more than $2B). In the last year, Indigo increased sales
<a style="color: #ed4d1f; text-decoration: none;">
8x
</a>
.
</p>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
In the past,
<a style="color: #ed4d1f; text-decoration: none;">
95%
</a>
of ag-tech exits ended in acquisition (thanks to the dominance of Monsanto and other ag-giants). But with
<a style="color: #ed4d1f; text-decoration: none;">
$609m
</a>
in the bank and microbial ag investment on the rise, Indigo may actually get to reap the fruits of its own labor.
</p>
</td>
</tr>
<!-- START LINK -->
<tr>
<td id="link" style="border-bottom-color: #dddddd; border-bottom-style: solid; border-bottom-width: 1px; padding: 10px 0 40px;">
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<span style="color: #ffffff; display: block; float: none; font-weight: bold; text-align: center;">
»
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<td style="border-color: #000; border-radius: 0 3px 3px 0; border-style: solid; border-width: 2px 2px 2px 0; padding: 0 8px; vertical-align: top;" valign="top">
<a style="color: #000000; font-size: 12px; font-weight: bold; line-height: 21px; text-decoration: none;">
This seller grows by helping growers sell
</a>
</td>
</tr>
</tbody>
</table>
</td>
</tr>
<!-- END LINK -->
<!-- END BRIEF -->
<!-- START BRIEF -->
<tr id="news1">
<td>
<h2 style="font-size: 26px; font-weight: bold; line-height: 120%; margin-bottom: 16px; margin-top: 36px;">
<strong>
In the world of digital ownership, there’s a fine line between ‘buy’ and ‘rent’
</strong>
</h2>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
<a style="color: #ed4d1f; text-decoration: none;">
Last week
</a>
, Anders Goncalves da Silva let loose a
<a style="color: #ed4d1f; text-decoration: none;">
tweetstorm
</a>
recounting the time Apple deleted 3 purchased movies from his iTunes account.
</p>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
After the tweet flurry went viral, Apple offered da Silva 2 free 48-hour movie rentals for his trouble, which is, truly, so sweet.
</p>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
But, if you pay $20 apiece to “buy” movies instead of $5 for renting…
</p>
<h4 style="font-size: 18px; font-weight: bold; margin-bottom: 8px; margin-top: 16px;">
<strong>
Shouldn’t you have control over your purchase?
</strong>
</h4>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
Da Silva’s tweets sent a shockwave across the platform, but the spat over digital ownership has been
<a style="color: #ed4d1f; text-decoration: none;">
long contested
</a>
.
</p>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
While it’s fair some content may be unavailable for sale on a
<a style="color: #ed4d1f; text-decoration: none;">
country-to-country
</a>
basis (da Silva lives in Canada), it definitely seems…
<em>
less than fair
</em>
for digital retailers like Apple and Amazon to straight up nix content from a consumer’s cinema treasure chest
<em>
after
</em>
purchase for seemingly no reason at all.
</p>
<h4 style="font-size: 18px; font-weight: bold; margin-bottom: 8px; margin-top: 16px;">
<strong>
It’s not fair, it’s business
</strong>
</h4>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
Since the beginning of digital time, companies like Apple have had a “licensed, not sold” clause buried deep within its
<a style="color: #ed4d1f; text-decoration: none;">
7k-word license terms
</a>
that denies consumers the right of possession, use, and transfer with ownership.
</p>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
In it, they address “deleted services,” and spoiler alert, they “reserve the right” to take your sh*t. The problem is,
<a style="color: #ed4d1f; text-decoration: none;">
studies show
</a>
that “Buy” buttons have proven to mislead consumers over the extent of their ownership.
</p>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
Da Silva’s suggested update?
</p>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
Label the button "Feelin Lucky?" instead.
</p>
</td>
</tr>
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<tr>
<td id="link" style="border-bottom-color: #dddddd; border-bottom-style: solid; border-bottom-width: 1px; padding: 10px 0 40px;">
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»
</span>
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<a style="color: #000000; font-size: 12px; font-weight: bold; line-height: 21px; text-decoration: none;">
What's yours is Apple's...
</a>
</td>
</tr>
</tbody>
</table>
</td>
</tr>
<!-- END LINK -->
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<!-- START BRIEF -->
<tr id="news1">
<td>
<h2 style="font-size: 26px; font-weight: bold; line-height: 120%; margin-bottom: 16px; margin-top: 36px;">
<strong>
The equity gap: Research shows women at startups have 1/2 the equity male peers do
</strong>
</h2>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
New
<a style="color: #ed4d1f; text-decoration: none;">
research
</a>
shows that female employees at startups own $0.47 in equity for every $1 owned by male employees. This study, by equity-management firm Carta, reveals the gender pay gap extends far beyond salary.
</p>
<h4 style="font-size: 18px; font-weight: bold; margin-bottom: 8px; margin-top: 16px;">
<strong>
This ‘other’ pay gap
</strong>
</h4>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
Five decades after the
<a style="color: #ed4d1f; text-decoration: none;">
Equal Pay Act
</a>
required employers to pay men and women equally for equal work, average salaries are still unequal: Women earn $0.82 for every $1 earned by men.
</p>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
But, by focusing on a subset of 180k employees and 15k founders at 6k private, equity-granting companies, this research illuminates
<em>
another
</em>
pay gap: equity.
</p>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
While women make up 35% of equity-holding employees, they only hold 20% of the equity. For female
<em>
founders
</em>
, it’s worse: Founding women had
<a style="color: #ed4d1f; text-decoration: none;">
$0.39
</a>
in equity for every $1 of man-quity.
</p>
<h4 style="font-size: 18px; font-weight: bold; margin-bottom: 8px; margin-top: 16px;">
<strong>
Inequity
</strong>
<em>
<strong>
(noun)
</strong>
</em>
<strong>
: The lack of fairness or justice
</strong>
</h4>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
Since equity is often more valuable than salary when a startup succeeds, this equity gap is a trap that keeps on taking.
</p>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
In some cases, equity discrimination is blatant: At certain tech companies, female hires got
<a style="color: #ed4d1f; text-decoration: none;">
half
</a>
the equity for the same role as male peers despite identical salaries. But Carta’s CEO (a guy) explains that women are also underrepresented in high-equity leadership roles.
</p>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
To address this leadership vacuum, California recently proposed a law requiring public companies --
<a style="color: #ed4d1f; text-decoration: none;">
20%
</a>
of which don’t have women on their boards -- to get at least 1 woman on board. But for now, it’s up to startups to do a better job of hiring women at every stage of growth.
</p>
</td>
</tr>
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<td style="border-color: #000; border-radius: 0 3px 3px 0; border-style: solid; border-width: 2px 2px 2px 0; padding: 0 8px; vertical-align: top;" valign="top">
<a style="color: #000000; font-size: 12px; font-weight: bold; line-height: 21px; text-decoration: none;">
It’s like, the opposite of equity
</a>
</td>
</tr>
</tbody>
</table>
</td>
</tr>
<!-- END LINK -->
<!-- END BRIEF -->
<!-- START NATIVE -->
<tr>
<td>
<table style="border-spacing: 0px;">
<tr>
<td align="center" bgcolor="#dedede" style="background: #dedede; color: #5c5c5c; font-family: 'Arial',sans-serif; font-size: 10px; font-weight: bold; letter-spacing: 1.5px; padding: 5px 0; text-align: center; width: 100px;">
SPONSORED
</td>
</tr>
</table>
</td>
</tr>
<tr id="sponsored">
<td>
<h2 style="font-size: 26px; font-weight: bold; line-height: 120%; margin-bottom: 16px; margin-top: 36px;">
<strong>
Use any ATM worldwide for FREE
</strong>
</h2>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
Go for it. Get your money out of any ATM you come across
<em>
without fees
</em>
. If you bank with
<a style="color: #ed4d1f; text-decoration: none;">
Radius
</a>
, that is.
</p>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
You know, the FDIC-insured bank whose hybrid checking account earns 17x the national average of 0.04% APY. The same bank voted
<a style="color: #ed4d1f; text-decoration: none;">
Best Online Checking Account
</a>
of 2018 by NerdWallet --
<em>
that
</em>
<a style="color: #ed4d1f; text-decoration: none;">
Radius Bank
</a>
.
</p>
<h4 style="font-size: 18px; font-weight: bold; margin-bottom: 8px; margin-top: 16px;">
<strong>
Listen, we’ll be honest…
</strong>
</h4>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
If things like free online banking, high-earning accounts, and zero monthly fees don’t have you jumping ship, there’s not much more than we can say except, “Go back to lighting bills on fire.”
</p>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
Sorry, we’re a little emotional. Nobody likes watching a friend make poor decisions, after all.
</p>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
Open a Radius Bank
<a style="color: #ed4d1f; text-decoration: none;">
hybrid checking account
</a>
to get all the benefits of a bank born in this century -- and stop wasting money on ATM fees.
</p>
</td>
</tr>
<tr id="cta">
<td align="center" style="padding: 20px 0 40px; text-align: center; width: 100%;">
<a style="background: #ffffff; border: 2px solid #000000; border-radius: 3px; color: #000000; font-family: 'Courier New',courier,monospace; font-weight: bold; letter-spacing: -0.5px; padding: 10px 15px; text-decoration: none;">
The online deposit slot →
</a>
</td>
</tr>
<tr>
<td style="padding-bottom: 60px;">
</td>
</tr>
<!-- END NATIVE -->
<!-- START DDD -->
<tr>
<td align="left" bgcolor="#000000" style="background: #000000; color: #ffffff; font-family: 'Courier',monospace; font-size: 16px; font-weight: bold; letter-spacing: 1px; padding: 8px 10px; text-align: left; width: 100%;">
deals deals deals
</td>
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<tr>
<td>
<p dir="ltr" style="font-family: times new roman, serif; font-size: 22px; line-height: 120%; margin: 0; padding-bottom: 8px; padding-top: 28px;">
<em>
"A bird in the oven is better than two in the bush."
</em>
</p>
<p dir="ltr" style="font-family: arial, sans-serif; font-size: 15px; font-weight: bold; line-height: 120%; margin: 0; padding-bottom: 24px;">
- Tim Burr from Whitefish, MT
</p>
</td>
</tr>
<tr>
<td bgcolor="#efefef" style="background: #efefef; padding: 8px 5px 0px 0px;">
<p style="color: #9a9a9a; font-family: arial, sans-serif; font-size: 10px; font-weight: bold; letter-spacing: 1px; line-height: 100%; margin: 0; padding-bottom: 6px; padding-left: 8px;">
SPONSORED
</p>
<ul style="margin: 0; padding-bottom: 14px; padding-left: 24px;">
<li style="line-height: 120%; padding: 4px 0;">
<a style="color: #ed4d1f; text-decoration: none;">
35% off police-grade breathalyzer
</a>
from BACtrack. Offer valid for next 48 hours, use code:
<strong>
HUSTLE
</strong>
</li>
</ul>
</td>
</tr>
<tr>
<td style="padding-top: 10px;">
<ul style="margin: 0; padding-bottom: 14px; padding-left: 24px;">
<li style="line-height: 120%; padding: 4px 0;">
<a style="color: #ed4d1f; text-decoration: none;">
Up to 50% off clearance sale
</a>
at Crocs
</li>
<li style="line-height: 120%; padding: 4px 0;">
<a style="color: #ed4d1f; text-decoration: none;">
25% off sitewide
</a>
at Adidas. Use code:
<strong>
FRIENDS25
</strong>
</li>
<li style="line-height: 120%; padding: 4px 0;">
<a style="color: #ed4d1f; text-decoration: none;">
Up to 75% off
</a>
at Kate Spade. Must enter email and zip code
</li>
<li style="line-height: 120%; padding: 4px 0;">
<a style="color: #ed4d1f; text-decoration: none;">
TP-Link WiFi extender at B&H Photo
</a>
for $32.99 (was $69.99)
</li>
<li style="line-height: 120%; padding: 4px 0;">
<a style="color: #ed4d1f; text-decoration: none;">
Columbia half-zip jacket
</a>
at Rakuten for $19.99 (was $40.00)
</li>
<li style="line-height: 120%; padding: 4px 0;">
<a style="color: #ed4d1f; text-decoration: none;">
Royal Dansk cookies
</a>
at Walmart for $3.48 (usually $9.99)
</li>
<li style="line-height: 120%; padding: 4px 0;">
<a style="color: #ed4d1f; text-decoration: none;">
Nutri Ninja Blender Duo
</a>
at Best Buy for $99.99 (was $199.99)
</li>
</ul>
</td>
</tr>
<tr>
<td style="padding-bottom: 50px;">
</td>
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<!-- END DDD -->
<!-- START SONG -->
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Now Playing:
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<a style="color: #ed4d1f; text-decoration: none;">
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I’m a Man, Mac Demarco
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. A song about stereotypes.
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REFERRALS
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<img alt="Zack Crockett" src="https://inboxflows.com/_/image/https%253A%252F%252Fs3-us-west-1.amazonaws.com%252Fthdaily%252Ffooter_zack.jpg/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZzMy11cy13ZXN0LSJ9:1kXP9B:6yY8rlSegrkhFiKD5Rpf9gCAXomatAvhywTFkXR5abA" style="padding-bottom: 10px; width: 60px;"/>
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<br/>
Zack Crockett
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NEWS WRITER
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Wes Schlagenhauf
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NEWS WRITER
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Conor Grant
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NEWS WRITER
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Kolby Hatch
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<span style="font-family: 'Arial',sans-serif; font-size: 8px; font-weight: normal; letter-spacing: 1px;">
AD WRITER
</span>
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<a style="color: #000000; text-decoration: none;">
Lindsey “Chillers > heaters” Quinn
</a>
<br/>
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MANAGING EDITOR
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<td align="center" style="font-family: 'Courier New',courier,monospace; font-size: 16px; font-weight: bold; line-height: 100%; padding: 20px 0; text-align: center; width: 50%;">
Kirsten Hollered
<br/>
<span style="font-family: 'Arial',sans-serif; font-size: 8px; font-weight: normal; letter-spacing: 1px; text-transform: uppercase;">
Anger Management Coach
</span>
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SUBSCRIBE
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SHOP
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771 CLEMENTINA STREET, SAN FRANCISCO, CA 94103, UNITED STATES
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415.506.7210
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6 years, 12 months ago - news@thehustle.co
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