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Tesla’s Chinese competitor, NIO, raised just over $1B in its IPO.
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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>
After a slow IPO, electric carmaker NIO is unfazed by stop-and-go stock prices
</strong>
</h2>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
Why? Chinese EV subsidies.
</p>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
Chinese electric carmaker NIO’s $1B IPO fell short of expectations, valuing the company at $6.42B instead of a desired
<a style="color: #ed4d1f; text-decoration: none;">
$20B
</a>
. As their stock swung yesterday, analysts cautioned investors that NIO would suffer due to its fragmented production and Tesla-turmoil.
</p>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
But, by aligning themselves with the booming EV (electric vehicle) market in China, NIO may have a smoother road ahead than Tesla.
</p>
<h4 style="font-size: 18px; font-weight: bold; margin-bottom: 8px; margin-top: 16px;">
<strong>
Betting big on China’s r-EV-olution
</strong>
</h4>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
Last year, China
<a style="color: #ed4d1f; text-decoration: none;">
produced
</a>
as many electric vehicles as the rest of the world combined. Yet, China’s EV market (the world’s largest) is still growing
<a style="color: #ed4d1f; text-decoration: none;">
2x
</a>
as fast as America’s.
</p>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
How is this possible? Easy: Huuuge subsidies. In the last decade, the Chinese government has spent more than
<a style="color: #ed4d1f; text-decoration: none;">
$22B
</a>
to finance EV production.
</p>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
But in the US, the private sector is in the EV market’s driver seat -- leaving Elon Musk in charge of building the country’s EV infrastructure.
</p>
<h4 style="font-size: 18px; font-weight: bold; margin-bottom: 8px; margin-top: 16px;">
<strong>
Tesla is a big car... on a small highway
</strong>
</h4>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
Right now, Tesla
<em>
IS
</em>
the American EV industry. And, since investors flip out anytime Elon Musk
<a style="color: #ed4d1f; text-decoration: none;">
types a Tweet
</a>
or
<a style="color: #ed4d1f; text-decoration: none;">
smokes a blunt
</a>
, it’s a volatile one at that.
</p>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
But China’s EV industry isn’t so fragile -- NIO is just 1 of 7 big EV companies that have raised more than
<a style="color: #ed4d1f; text-decoration: none;">
$1B
</a>
(and they’re all supported by public utilities and state subsidies).
</p>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
NIO didn’t outsource production and IPO in the US by accident, but because it could afford to -- thanks to a stable, subsidized market.
</p>
<h4 style="font-size: 18px; font-weight: bold; margin-bottom: 8px; margin-top: 16px;">
<strong>
The road ahead is long -- but NIO’s not alone
</strong>
</h4>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
After tumbling 15%, NIO’s stock rebounded to finish up
<a style="color: #ed4d1f; text-decoration: none;">
10%
</a>
on Day 1. NIO, which had delivered 481 cars when it announced its IPO, delivered
<a style="color: #ed4d1f; text-decoration: none;">
1.6k
</a>
cars at the end of August -- with 15.7k more on the way.
</p>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
Tesla delivered
<a style="color: #ed4d1f; text-decoration: none;">
200k
</a>
cars in the US this year. But as Tesla grows, it actually
<em>
loses
</em>
support from the government (Tesla customers only get the $7.5k
<a style="color: #ed4d1f; text-decoration: none;">
EV tax credit
</a>
up to 200k units).
</p>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
Meanwhile, as NIO accelerates production to catch Tesla, the Chinese government seems happy to provide training wheels.
</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;">
NIO, enter the Musk-trix
</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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<tr id="news1">
<td>
<h2 style="font-size: 26px; font-weight: bold; line-height: 120%; margin-bottom: 16px; margin-top: 36px;">
<strong>
No more smoke and mirrors: The FDA gives JUUL 60 days to stop teens from vaping
</strong>
</h2>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
The US Food and Drug Administration has given JUUL Labs 2 months to prove they can keep their products away from minors, or else be pulled from the market, with the potential of criminal or civil charges.
</p>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
In addition to JUUL, 4 other vape companies face the FDA’s ultimatum: Vuse, Blue, Markten XL, and Logic (who collectively make up
<a style="color: #ed4d1f; text-decoration: none;">
97%
</a>
of the US e-cig market).
</p>
<h4 style="font-size: 18px; font-weight: bold; margin-bottom: 8px; margin-top: 16px;">
<strong>
Parting the cucumber-infused vape haze
</strong>
</h4>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
The FDA warns that teenage use of e-cigs has reached “epidemic proportions” (
<a style="color: #ed4d1f; text-decoration: none;">
2m middle and high school students
</a>
reportedly used e-cigarettes regularly last year).
</p>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
The agency also sent letters warning
<a style="color: #ed4d1f; text-decoration: none;">
1k online and brick-and-mortar retailers
</a>
and issued 131 fines during a nationwide investigation into whether JUUL was purposely targeting youths.
</p>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
In April, JUUL sent thousands of pages of records to be reviewed by the FDA -- but apparently, it didn’t bode well for the nicotine king.
</p>
<h4 style="font-size: 18px; font-weight: bold; margin-bottom: 8px; margin-top: 16px;">
<strong>
JUUL says they will be compliant with the new mandate
</strong>
</h4>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
A JUUL spokeswoman told the
<a style="color: #ed4d1f; text-decoration: none;">
<em>
NYT
</em>
</a>
<em>
:
</em>
“We are committed to preventing underage use of our product, and we want to be part of the solution in keeping e-cigarettes out of the hands of young people.”
</p>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
But, FDA Commissioner Scott Gottlieb believes JUUL has long treated the issues of teen nicotine addiction like a “public relations challenge” rather than seriously considering their legal obligations and public health mandate that these products bring.
</p>
</td>
</tr>
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»
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Run the JUULs
</a>
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<td>
<h2 style="font-size: 26px; font-weight: bold; line-height: 120%; margin-bottom: 16px; margin-top: 36px;">
<strong>
Apple unveils a heart-tracking watch alongside heart-stopping prices
</strong>
</h2>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
At its annual iPhone fun-fest in Cupertino yesterday, Apple
<a style="color: #ed4d1f; text-decoration: none;">
unveiled
</a>
a new line of expensive iPhones and a redesigned, health-conscious Watch.
</p>
<h4 style="font-size: 18px; font-weight: bold; margin-bottom: 8px; margin-top: 16px;">
<strong>
Bigger, brighter, and pricier
</strong>
</h4>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
Apple’s newest iPhone -- the oxymoronically named “
<a style="color: #ed4d1f; text-decoration: none;">
XS Max
</a>
” -- is the Macmakers’ biggest smartphone yet, measuring up at 6.5 inches across and $1,099 deep (into your wallet, that is).
</p>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
The Max’s siblings also have XS-ive price points (the XS at $999 and the XR at $749) -- all predictably more expensive than last year’s new phones.
</p>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
Apple’s annual price increases have become a rite of passage -- testament to the company’s powerful brand that keeps people coming back for more, even if it means taking out a second mortgage.
</p>
<h4 style="font-size: 18px; font-weight: bold; margin-bottom: 8px; margin-top: 16px;">
<strong>
Wearable companies better Watch out
</strong>
</h4>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
Apple also unveiled its new Series 4 Watch -- a bigger, faster $399 piece of wrist-candy with a built-in EKG that monitors heart rate. The new heart-monitor feature positions Apple’s watches as
<a style="color: #ed4d1f; text-decoration: none;">
potential lifesavers
</a>
, not mere exercise aids.
</p>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
And, Apple’s entry into the health-wearable game raised some heart rates for competitors: Fitbit’s stock dropped more than
<a style="color: #ed4d1f; text-decoration: none;">
6%
</a>
in response to the announcement.
</p>
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<a style="color: #000000; font-size: 12px; font-weight: bold; line-height: 21px; text-decoration: none;">
At least they’re not Pebble
</a>
</td>
</tr>
</tbody>
</table>
</td>
</tr>
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<td>
<h2 style="font-size: 26px; font-weight: bold; line-height: 120%; margin-bottom: 16px; margin-top: 36px;">
<strong>
As cryptocurrency continues to slide, Dogecoin is up 160%
</strong>
</h2>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
Lately, cryptocurrency’s performance looks like a bad joke: Since peaking in early January, the entire space dropped close to 80%, blowing around
<a style="color: #ed4d1f; text-decoration: none;">
$640B
</a>
since January.
</p>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
The biggest joke of all? While heavy-hitters like Bitcoin continue to slide, parody “alt-currency” Dogecoin has surged over
<a style="color: #ed4d1f; text-decoration: none;">
160% in the last month
</a>
.
</p>
<h4 style="font-size: 18px; font-weight: bold; margin-bottom: 8px; margin-top: 16px;">
<strong>
Not bad for a goof
</strong>
</h4>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
Introduced to the market in 2013 as a play on the once
<a style="color: #ed4d1f; text-decoration: none;">
<em>
pup-ular
</em>
Doge meme
</a>
, the company at one point reached a market value of more than
<a style="color: #ed4d1f; text-decoration: none;">
$1B
</a>
at the beginning of January, and continues to show promise.
</p>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
But how does an alt-coin that, as of January, hadn’t updated its software in over 2 years, continue to stay in swing? According to
<em>
Bloomberg
</em>
, that’s a tough question to answer.
</p>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
One of the main theories is that its gain is a result of it having been added to the popular Robinhood app as a currency available for trading in
<a style="color: #ed4d1f; text-decoration: none;">
mid-July
</a>
.
</p>
<h4 style="font-size: 18px; font-weight: bold; margin-bottom: 8px; margin-top: 16px;">
<strong>
Good for Dogecoin, but the space is still troubled
</strong>
</h4>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
Crypto death began early this year after the Bitcoin bubble popped, and, as
<em>
The
</em>
<em>
Wall Street Journal
</em>
reports, it doesn’t look like it’s going to rebound any time soon.
</p>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
The total value of all cryptocurrencies fell below
<a style="color: #ed4d1f; text-decoration: none;">
$200B
</a>
last weekend, down 76% from an all-time high of $832B in January, officially making its highly publicized plunge worse than the 2000s dotcom crash.
</p>
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<h2 style="font-size: 26px; font-weight: bold; line-height: 120%; margin-bottom: 16px; margin-top: 36px;">
<strong>
How mail-order mixtape Vinyl Moon became the best thing since the EP
</strong>
</h2>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
A decade ago, Brandon Bogajewicz started a music blog, The Burning Ear, to share his newly discovered favorite cuts with the world.
</p>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
Turns out he had a knack for curating music. So, to feed his growing community of hungry note-heads, he combined the 2 great loves of millennial music buffs: Mixtapes and vinyl.
</p>
<h4 style="font-size: 18px; font-weight: bold; margin-bottom: 8px; margin-top: 16px;">
<a style="color: #ed4d1f; text-decoration: none;">
<strong>
Vinyl Moon
</strong>
</a>
<strong>
: a curated vinyl mixtape delivered monthly
</strong>
</h4>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
Each month, Vinyl Moon sends listeners a
<a style="color: #ed4d1f; text-decoration: none;">
vinyl mixtape
</a>
filled with fresh tracks from new emerging artists.
</p>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
And, it doubles down on treats like special pressings and album art: Every Vinyl Moon mixtape is pressed in dazzling colors alongside original artwork from budding visual artists (do yourself a favor and
<a style="color: #ed4d1f; text-decoration: none;">
take a look
</a>
).
</p>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
Vinyl Moon is for people who love surprises, appreciate analog, and look forward to Monday’s Discovery Spotify Playlist like a weekly Christmas.
</p>
<p style="font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 12px;">
If that’s you, consider Vinyl Moon your next symphonic frontier. Hustle readers take
<a style="color: #ed4d1f; text-decoration: none;">
15% off any membership
</a>
(including the annual plan; Ya welcome).
</p>
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Drop the needle →
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things you should...
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<td>
<h4 dir="ltr" style="font-size: 18px; font-weight: bold; margin-bottom: 8px; margin-top: 18px;">
LIGHT:
<span style="font-weight: normal;">
A candle that smells like a sensual cave, $23
</span>
</h4>
<p dir="ltr" style="border-bottom-color: #dddddd; border-bottom-style: solid; border-bottom-width: 1px; font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 16px;">
This soy candle looks trendy, smells fantastic, and isn’t $100. The scented candle Triple Crown. With notes of sage, lavender, and orange, PF CANDLE CO’s Amber and Moss candle is one of our favorites, because it smells like a forest -- the lush, mossy kind, not the pine tree kind.
<br/>
<a style="color: #ed4d1f; font-size: 14px; font-weight: bold; line-height: 200%; text-decoration: none;">
THINK BEDTIME, NOT CHRISTMAS TIME →
</a>
</p>
</td>
</tr>
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<tr>
<td>
<h4 dir="ltr" style="font-size: 18px; font-weight: bold; margin-bottom: 8px; margin-top: 18px;">
SMOKE:
<span style="font-weight: normal;">
Da meats, with Big Green Egg, starting at $399.00
</span>
</h4>
<p dir="ltr" style="border-bottom-color: #dddddd; border-bottom-style: solid; border-bottom-width: 1px; font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 16px;">
Careful, the Big Green Egg is probably the most recognizable charcoal grill on earth (so if you haven’t heard of it, pretend). This popular kamado-style outdoor grill achieves high temperatures due to the focused heat of the ceramic shell, but can also serve as a world-class smoker.
<br/>
<a style="color: #ed4d1f; font-size: 14px; font-weight: bold; line-height: 200%; text-decoration: none;">
GET YOUR GRILL ON →
</a>
</p>
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<td>
<h4 dir="ltr" style="font-size: 18px; font-weight: bold; margin-bottom: 8px; margin-top: 18px;">
ATTEMPT:
<span style="font-weight: normal;">
Complete all the challenges of a Cotopaxi Questival, $42
</span>
</h4>
<p dir="ltr" style="border-bottom-color: #dddddd; border-bottom-style: solid; border-bottom-width: 1px; font-family: arial, sans-serif; font-size: 15px; line-height: 120%; margin: 0; padding-bottom: 16px;">
Questival is like a scavenger hunt birthday -- but with fewer clowns and more fun. Trendy gearmaker Cotopaxi now organizes this adventure race in 33 cities, pitting teams of 2-6 against each other in a 24-hour adventure race that features bucket list challenges and lots of selfies.
<br/>
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WAIT TIL YOU SEE THE GOODIE BAG →
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HACK:
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Creativity with “The Creative Curve” by Allen Gannett 40% off
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Can creativity be learned? Big data entrepreneur Allen Gannett says yes. The new book “The Creative Cuve” busts the historical myths around creativity (Mozart wasn’t a prodigy), bursts the 10k hour rule (it’s BS), and interviews some of today’s most innovative minds (like Reddit co-founder, Alexis Ohanian) on hacking personal success. Get 40% off on Amazon now.
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LIGHT YOUR BRAIN ON FIRE →
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FLY:
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International on the cheap, $39/year
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Scott’s Cheap Flights scours the web for international flight deals, then sends them straight to your inbox. Fly everywhere from Thailand to New Zealand for dirt cheap (we’ve even scored a few trips ourselves). All you have to do is pick your departure airports and stock up on travel shampoos.
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IT'S TAKEOFF TIME →
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Lindsey “MAEJ (Managing editors against JUULs)” Quinn
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7 years ago - news@thehustle.co
Tesla’s Chinese competitor, NIO, raised just over $1B in its IPO. The Hustle Sponsored by After a...