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<span class="preheader" style="color: transparent; display: none; height: 0; max-height: 0; max-width: 0; opacity: 0; overflow: hidden; mso-hide: all; visibility: hidden; width: 0;">
PLUS: Remote worker side hustles.
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August 17, 2021
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<p style="font-size: 16px; line-height: 20px; padding-bottom: 10px; margin: 0px;">
In today’s email, we’ve got a story about remote workers who secretly work multiple jobs simultaneously. If that sounds like you, we’d love to anonymously hear your story via
<a style="color: #d62829; text-decoration: none; -webkit-text-fill-color: #d62829;">
this survey
</a>
.
</p>
<p style="font-size: 16px; line-height: 20px; padding-bottom: 10px; margin: 0px;">
Today’s rundown:
</p>
<ul style="font-size: 16px; line-height: 20px; padding-bottom: 10px; padding-left: 12px; margin: 0;">
<li style="font-size: 15px; line-height: 140%; margin: 0 0 0 15px; padding: 0px;">
<strong>
Put a ring on it:
</strong>
Weddings are back, big time.
</li>
<li style="font-size: 15px; line-height: 140%; margin: 0 0 0 15px; padding: 0px;">
<strong>
The ‘Target Effect’:
</strong>
How Target’s in-house brands work magic.
</li>
<li style="font-size: 15px; line-height: 140%; margin: 0 0 0 15px; padding: 0px;">
<strong>
Overemployed:
</strong>
Folks are secretly working multiple white-collar jobs -- and making bank.
</li>
</ul>
<p style="font-size: 16px; line-height: 20px; padding-bottom: 10px; margin: 0px;">
Let’s do it.
</p>
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The big idea
</td>
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<a style="color: #d62829; text-decoration: none;">
<img alt="wedding couple" src="https://inboxflows.com/_/image/https%253A%252F%252Fmedia.sailthru.com%252Fcomposer%252Fimages%252Fsailthru-prod-6ks%252Fwedding_confetti.gif/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZtZWRpYS5zYWlsdCJ9:1mFxJP:NJX8mU_g1zpfcZLyFTciCmt_mZQc9J4_3qXz1Fs625g" style="height: auto; width: 100%; max-width: 600px;" width="600"/>
</a>
</td>
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<h2 style="font-size: 22px; line-height: 26px; font-weight: bold; margin: 10px 0px 5px;">
The pandemic crimped the wedding industry. Now, business is booming.
</h2>
</td>
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<td class="h2020 ignore-defaults" style="padding: 5px 0px 0px;">
<p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
It’s a good time to be in the wedding business.
</p>
<p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
While COVID lockdowns wiped out the wedding season in 2020, the industry has recovered sharply,
<a style="color: #d62829; text-decoration: none; -webkit-text-fill-color: #d62829;">
creating
</a>
a flurry of business for vendors, per
<em>
The New York Times
</em>
.
</p>
<h4 style="font-size: 17px; height: 100%; letter-spacing: 0px; line-height: 22px; padding-top: 8px; margin: 0px;">
<strong>
The boom is expected to last beyond this year
</strong>
</h4>
<p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
While many of these ceremonies are socially-distant “micro-weddings,” not everybody is cutting back, which brings good news for vendors.
</p>
<p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
Independent research firm Wedding Report
<a style="color: #d62829; text-decoration: none; -webkit-text-fill-color: #d62829;">
expects
</a>
the average price per wedding to rise through 2023:
</p>
<ul style="font-size: 16px; line-height: 20px; padding-bottom: 10px; padding-left: 12px; margin: 0;">
<li style="font-size: 15px; line-height: 140%; margin: 0 0 0 15px; padding: 0px;">
<strong>
2021
</strong>
: 1.93m weddings, average spend of
<strong>
$22.5k
</strong>
</li>
<li style="font-size: 15px; line-height: 140%; margin: 0 0 0 15px; padding: 0px;">
<strong>
2022
</strong>
: 2.47m weddings, average spend of
<strong>
$24.3k
</strong>
</li>
<li style="font-size: 15px; line-height: 140%; margin: 0 0 0 15px; padding: 0px;">
<strong>
2023
</strong>
: 2.24m weddings, average spend of
<strong>
$24.9k
</strong>
</li>
</ul>
<p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
Increased spending could be due to a number of factors, including couples saving up during the pandemic, stimulus checks from the government, and the surging stock market.
</p>
<h4 style="font-size: 17px; height: 100%; letter-spacing: 0px; line-height: 22px; padding-top: 8px; margin: 0px;">
<strong>
But the boom may actually be a blip
</strong>
</h4>
<p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
Wedding Report expects 2022 to have the most ceremonies since the 1980s before settling back to pre-COVID numbers, which weren’t exactly on the upswing.
</p>
<p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
Data from the National Center for Health Statistics (NCHS)
<a style="color: #d62829; text-decoration: none; -webkit-text-fill-color: #d62829;">
maps
</a>
the decline in marriage rates along the following timeline:
</p>
<ul style="font-size: 16px; line-height: 20px; padding-bottom: 10px; padding-left: 12px; margin: 0;">
<li style="font-size: 15px; line-height: 140%; margin: 0 0 0 15px; padding: 0px;">
1982-2009: Marriage rates declined steadily
</li>
<li style="font-size: 15px; line-height: 140%; margin: 0 0 0 15px; padding: 0px;">
2009-2017: Marriage rates stabilized
</li>
<li style="font-size: 15px; line-height: 140%; margin: 0 0 0 15px; padding: 0px;">
2017-2018: Marriage rates dropped 6% to the lowest rate recorded between 1900 and 2018
</li>
</ul>
<h4 style="font-size: 17px; height: 100%; letter-spacing: 0px; line-height: 22px; padding-top: 8px; margin: 0px;">
<strong>
One boom may lead to another
</strong>
</h4>
<p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
Since many couples wait to get married before having children, a baby boom could be next.
</p>
<p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
Recent data reported across multiple states
<a style="color: #d62829; text-decoration: none; -webkit-text-fill-color: #d62829;">
hints
</a>
at a turnaround from early in the pandemic when birth rates were declining.
</p>
<p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
With that in mind, it may not be a bad time to brush up on your babysitting skills.
</p>
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The S&P 500 index has doubled
</strong>
from its March 2020 lows, doing so in
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354 days
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<strong>
Discord doubles up:
</strong>
The company is reportedly
<a style="color: #d62829; text-decoration: none;">
raising
</a>
money at a valuation of $15B, more than 2x its valuation last year.
</p>
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Big-time breach:
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T-Mobile is
<a style="color: #d62829; text-decoration: none;">
investigating
</a>
a data breach that hackers say could impact 100m people.
</p>
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<strong>
Watch out, Elon:
</strong>
Foxconn
<a style="color: #d62829; text-decoration: none;">
announced
</a>
it will enter the EV race, with plans to build factories in the US and Thailand next year.
</p>
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<strong>
Wish -- the discount ecommerce app --
</strong>
has seen business slow dramatically, and its stock is down
<a style="color: #d62829; text-decoration: none;">
~80%
</a>
since February highs.
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Retail
</td>
</tr>
<tr>
<td style="padding: 0 0 6px;">
<a style="color: #d62829; text-decoration: none;">
<img alt="Target clothing" src="https://inboxflows.com/_/image/https%253A%252F%252Fmedia.sailthru.com%252Fcomposer%252Fimages%252Fsailthru-prod-6ks%252FTarget_clothing.png/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZtZWRpYS5zYWlsdCJ9:1mFxJP:NJX8mU_g1zpfcZLyFTciCmt_mZQc9J4_3qXz1Fs625g" style="height: auto; width: 100%; max-width: 600px;" width="600"/>
</a>
</td>
</tr>
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<td>
<h2 style="font-size: 22px; line-height: 26px; font-weight: bold; margin: 10px 0px 5px;">
Target has launched ten $1B+ brands
</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;">
Have you ever walked into Target looking to buy a single item (e.g., milk) but walked out with a bounty of other goods you didn’t know you needed?
</p>
<p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
In industry parlance, that’s known as the “Target Effect,” which is driven in large part by the retailer’s mastery of...
</p>
<h4 style="font-size: 17px; height: 100%; letter-spacing: 0px; line-height: 22px; padding-top: 8px; margin: 0px;">
<strong>
… creating desirable in-house brands
</strong>
</h4>
<p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
According to
<a style="color: #d62829; text-decoration: none; -webkit-text-fill-color: #d62829;">
<em>
Fast Company
</em>
</a>
, the $129B retail giant has launched 48 ”
<a style="color: #d62829; text-decoration: none; -webkit-text-fill-color: #d62829;">
owned brands
</a>
” across home, fashion, beauty, and other categories.
</p>
<p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
Of these, 10 brands have cracked $1B in sales (the most recent was activewear line All in Motion) while 4 brands generate
<a style="color: #d62829; text-decoration: none; -webkit-text-fill-color: #d62829;">
$2B
</a>
+ a year:
</p>
<ul style="font-size: 16px; line-height: 20px; padding-bottom: 10px; padding-left: 12px; margin: 0;">
<li style="font-size: 15px; line-height: 140%; margin: 0 0 0 15px; padding: 0px;">
Cat & Jack (Kids apparel)
</li>
<li style="font-size: 15px; line-height: 140%; margin: 0 0 0 15px; padding: 0px;">
Good & Gather (food brand)
</li>
<li style="font-size: 15px; line-height: 140%; margin: 0 0 0 15px; padding: 0px;">
Up & Up (household)
</li>
<li style="font-size: 15px; line-height: 140%; margin: 0 0 0 15px; padding: 0px;">
Threshold (home decor)
</li>
</ul>
<h4 style="font-size: 17px; height: 100%; letter-spacing: 0px; line-height: 22px; padding-top: 8px; margin: 0px;">
<strong>
Target capitalizes on the hottest trends
</strong>
</h4>
<p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
It does so by combining an analytics team (tracking search and social data) with an in-house design team (including chemists and material scientists).
</p>
<p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
Target also regularly gives shelf space to popular online D2C brands (e.g., Casper, Quip).
</p>
<p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
There is risk in these partnerships, though, as the company has a track record of launching competing in-house brands.
</p>
<h4 style="font-size: 17px; height: 100%; letter-spacing: 0px; line-height: 22px; padding-top: 8px; margin: 0px;">
<strong>
Some call Target’s copycat tactics dirty
</strong>
</h4>
<p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
Notably, luxe brand Burberry and shoe brand Vans have both sued the Minneapolis-based retailer for trademark infringement.
</p>
<p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
To be sure, copying is very much par for the course in retail:
</p>
<ul style="font-size: 16px; line-height: 20px; padding-bottom: 10px; padding-left: 12px; margin: 0;">
<li style="font-size: 15px; line-height: 140%; margin: 0 0 0 15px; padding: 0px;">
<strong>
Amazon
</strong>
and
<strong>
Walmart
</strong>
have white label brands
</li>
<li style="font-size: 15px; line-height: 140%; margin: 0 0 0 15px; padding: 0px;">
<strong>
Zara
</strong>
and
<strong>
H&M
</strong>
rip off the latest runway designers
</li>
</ul>
<p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
A fashion lawyer tells
<em>
Fast Company
</em>
most of Target’s moves are “perfectly legal” (though, we weren’t able to confirm this).
</p>
</td>
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<td style="color: #D62829; font-size: 16px; font-weight: bold; letter-spacing: 1.5px; text-transform: uppercase; padding: 0px 0px 10px;">
Smart or Stupid?
</td>
</tr>
<tr>
<td style="padding: 0 0 6px;">
<a style="color: #d62829; text-decoration: none;">
<img alt="open laptop" src="https://inboxflows.com/_/image/https%253A%252F%252Fmedia.sailthru.com%252Fcomposer%252Fimages%252Fsailthru-prod-6ks%252Fopen_laptop.png/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZtZWRpYS5zYWlsdCJ9:1mFxJP:NJX8mU_g1zpfcZLyFTciCmt_mZQc9J4_3qXz1Fs625g" style="height: auto; width: 100%; max-width: 600px;" width="600"/>
</a>
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<td>
<h2 style="font-size: 22px; line-height: 26px; font-weight: bold; margin: 10px 0px 5px;">
Some remote employees are secretly working multiple jobs
</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;">
A recent
<a style="color: #d62829; text-decoration: none; -webkit-text-fill-color: #d62829;">
study
</a>
found 38% of remote workers regularly do their job from bed.
</p>
<p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
What that study didn’t mention was that they might be actually doing
<em>
multiple jobs
</em>
from bed.
</p>
<h4 style="font-size: 17px; height: 100%; letter-spacing: 0px; line-height: 22px; padding-top: 8px; margin: 0px;">
<strong>
The latest WFH trend is doing extra work secretly
</strong>
</h4>
<p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
A recent report from
<em>
The Wall Street Journal
</em>
details folks
<a style="color: #d62829; text-decoration: none; -webkit-text-fill-color: #d62829;">
secretly
</a>
taking on multiple jobs, toggling between Slack accounts and work calendars, and using excuses like WiFi issues to balance responsibilities and earn up to
<strong>
$600k
</strong>
a year.
</p>
<p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
Some folks are emboldened by a site called
<a style="color: #d62829; text-decoration: none; -webkit-text-fill-color: #d62829;">
Overemployed
</a>
, which oversees a Discord community and provides tips for multi-jobbers.
</p>
<p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
Overemployed hosts articles with titles like “How to Set Low Expectations At Your Two Remote Jobs” and “Manage Conflicting Meetings With Two Remote Jobs.”
</p>
<h4 style="font-size: 17px; height: 100%; letter-spacing: 0px; line-height: 22px; padding-top: 8px; margin: 0px;">
<strong>
But the craziest (smartest?) claim we’ve seen...
</strong>
</h4>
<p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
… comes from an anonymous poster on
<em>
Hacker News
</em>
who
<a style="color: #d62829; text-decoration: none; -webkit-text-fill-color: #d62829;">
reportedly
</a>
works 10 remote engineering jobs simultaneously.
</p>
<ul style="font-size: 16px; line-height: 20px; padding-bottom: 10px; padding-left: 12px; margin: 0;">
<li style="font-size: 15px; line-height: 140%; margin: 0 0 0 15px; padding: 0px;">
“The bar is so low, oversight is non-existent, and everyone is so forgiving for under performance I can coast about 4-8 weeks before a given job fires me,” they wrote.
</li>
</ul>
<p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
The user says they are headed for
<strong>
$1.5m
</strong>
in compensation this year.
</p>
<p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
If that’s for real, it sure is impressive. Still, we’ll be about 100x more impressed when someone tells us they’re working 10 simultaneous jobs
<em>
in person
</em>
.
</p>
</td>
</tr>
<tr>
<td>
<table cellpadding="0" style="width: 100%; padding: 10px 10px 0px;">
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<td style="padding-bottom: 5px;">
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<td style="width: 100%;">
<table style="width: 100%;">
<tr>
<td style="color: #da2829; font-size: 16px; font-weight: bold; letter-spacing: 1.5px; text-transform: uppercase; padding: 10px 3px 0px;">
AROUND THE WEB
</td>
</tr>
<tr>
<td class="h2020 ignore-defaults" style="font-size: 15px; line-height: 20px; margin: 0; padding: 15px 0px 0px 3px;">
<p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
📺
<strong>
Haha:
</strong>
<a style="color: #d62829; text-decoration: none; -webkit-text-fill-color: #d62829;">
Nestflix
</a>
is a compilation of fake media from real TV shows and movies. Examples: “The Rural Juror” (“30 Rock”), “Kickpuncher” (“Community”), and “Stab” (“Scream 2”).
</p>
<p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
🎨
<strong>
Chill out:
</strong>
This
<a style="color: #d62829; text-decoration: none; -webkit-text-fill-color: #d62829;">
website
</a>
displays an endless artwork, constantly zooming into itself to change scenes. It’s trippy.
</p>
<p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
🗞️
<strong>
On this day:
</strong>
In
<a style="color: #d62829; text-decoration: none; -webkit-text-fill-color: #d62829;">
1903
</a>
, newspaper publisher Joseph Pulitzer donated $1m to Columbia University, thus kicking off the
<a style="color: #d62829; text-decoration: none; -webkit-text-fill-color: #d62829;">
Pulitzer Prizes
</a>
.
</p>
<p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
🍺
<strong>
Mmm:
</strong>
<a style="color: #d62829; text-decoration: none; -webkit-text-fill-color: #d62829;">
Bochet
</a>
is a lost medieval mead that erupts like a volcano as it’s made. Modern mead-makers are trying to bring it back.
</p>
<p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
💉
<strong>
Wow:
</strong>
Where do you get vaccinated if you don’t have a local pharmacy?
<em>
National Geographic
</em>
<a style="color: #d62829; text-decoration: none; -webkit-text-fill-color: #d62829;">
follows
</a>
the health care workers getting vaccines to the most remote populations on Earth -- sometimes by dogsled.
</p>
<p style="font-size: 15px; line-height: 140%; margin: 5px 0px 5px;">
🏄
<strong>
That’s cool:
</strong>
A British father and son duo became the 1st people to
<a style="color: #d62829; text-decoration: none; -webkit-text-fill-color: #d62829;">
cross
</a>
the English Channel on eFoil boards -- electric boards that look like they’re
<a style="color: #d62829; text-decoration: none; -webkit-text-fill-color: #d62829;">
hovering
</a>
. It took them 1 hour and 44 minutes.
</p>
</td>
</tr>
<tr>
<td style="border-bottom-color: #dddddd; border-bottom-style: solid; border-bottom-width: 1px; padding-top: 15px;">
</td>
</tr>
<tr>
<td style="padding-bottom: 5px;">
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</tr>
</table>
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<tr style="padding: 10px 2px 0px;">
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<table style="width: 100%;">
<tr>
<td style="color: #D62829; font-size: 16px; font-weight: bold; letter-spacing: 1.5px; text-transform: uppercase; padding: 5px 0px 10px;">
Meme of the day
</td>
</tr>
<tr>
<td align="center" style="text-align: center; padding: 0 0 6px;">
<img alt="Target meme" src="https://inboxflows.com/_/image/https%253A%252F%252Fmedia.sailthru.com%252Fcomposer%252Fimages%252Fsailthru-prod-6ks%252Ftarget_meme.jpeg/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZtZWRpYS5zYWlsdCJ9:1mFxJP:NJX8mU_g1zpfcZLyFTciCmt_mZQc9J4_3qXz1Fs625g" style="height: auto; width: 100%; max-width: 600px;" width="600"/>
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<p style="font-family: Helvetica, sans-serif; color: #5f696c; font-size: 12px; font-style: italic; line-height: 20px; margin: 0px; padding: 8px 5px 0px;">
Meet the “Target Effect” (Source: Postize)
</p>
</td>
</tr>
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SHARE THE HUSTLE
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<p style="font-size: 16px; line-height: 140%; padding-bottom: 10px; margin: 5px 0px 0px;">
Over the years, we’ve learned…
<em>
secrets.
</em>
</p>
<p style="font-size: 16px; line-height: 140%; padding-bottom: 10px; margin: 5px 0px 0px;">
The business secrets, tips, and tricks that have helped founders go from zero to millions -- and even
<em>
billions
</em>
-- of dollars.
</p>
<p style="font-size: 16px; line-height: 140%; padding-bottom: 10px; margin: 5px 0px 0px;">
Want to see ‘em? Just refer 3 more friends to The Hustle and we’ll send you our curated set of interviews with founders from brands like Zola, AWAY, Vungle, Bonobos, and more.
</p>
<p style="font-size: 16px; line-height: 140%; padding-bottom: 10px; margin: 5px 0px 0px;">
Here’s a message you can use to share with your friends:
</p>
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<tr class="zephyr-syntax" id="Bottom copy">
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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 and you’ll sound like the smartest person in the room. Sign up here, it’s free:
<a style="color: #d62829; text-decoration: none;">
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<em>
P.S. You can always check your referral count
<a style="color: #d62829; text-decoration: none;">
here
</a>
.
</em>
</p>
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Today's email was brought to you by
<a style="color: #d62829; text-decoration: none;" target="_blank">
Trung Phan
</a>
,
<a style="color: #d62829; text-decoration: none;" target="_blank">
Jacob Cohen
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,
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Juliet Bennett Rylah
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,
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Rob Litterst
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.
<br/>
Editing by: Zachary “Wedding Crasher” Crockett.
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3 years, 11 months ago - news@thehustle.co
👰The wedding business is booming
PLUS: Remote worker side hustles. August 17, 2021 In today’s email, we’ve got a story about remot...