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The Dudley Library in England waived a $52.4k fine after a man returned
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The Big Tech vibe shift.
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Chart:
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The made-in-India iPhone.
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<li style="font-size:16px; line-height: 140%; margin: 0 0 0 15px; padding: 0px;">
<strong>
The case
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of the missing shopping carts.
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Around the web:
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A digital art magazine, exploration dogs, ethical shopping tips, and more cool internet finds.
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The big idea
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Why are there so many tech layoffs?
</h2>
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Cheap money is out, and companies hired lots of people during the pandemic.
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2023-01-24T00:00:00Z
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<div class="author-name" style="color: transparent; display: none; height: 0; max-height: 0; max-width: 0; opacity: 0; overflow: hidden; mso-hide: all; visibility: hidden; width: 0;">
Mark Dent
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<p style="font-size: 16px; line-height: 140%; margin: 5px 0px 10px;">
On Monday, Spotify became the latest tech giant to shrink its staff,
<a style="color: #192733; text-decoration: underline !important;">
announcing
</a>
it would cut ~600 workers, or 6% of its workforce.
</p>
<p style="font-size: 16px; line-height: 140%; margin: 5px 0px 10px;">
That brings the total number of tech layoffs in 2023 to ~57k, following ~159k in 2022, according to
<a style="color:#192733; text-decoration: underline !important;">
Layoffs.fyi
</a>
. The Great Reduction is happening in a labor market that, for the most part, is
<a style="color: #192733;text-decoration: underline !important;">
humming along
</a>
just fine.
</p>
<p style="font-size:16px;line-height:140%; margin: 5px 0px 10px;">
Why is it 2023 for most industries and
<a style="color: #192733; text-decoration: underline !important;">
2000 all over again
</a>
for tech?
</p>
<p style="font-size:16px;line-height: 140%; margin: 5px 0px 10px;">
<strong>
For one thing…
</strong>
</p>
<p style="font-size:16px;line-height:140%; margin: 5px 0px 10px;">
… tech companies
<a style="color: #192733; text-decoration: underline !important;">
hired a ton
</a>
of employees from 2020 to early 2022, when it seemed Americans might never leave their homes again (except to tour open houses and unsuccessfully bid on other homes).
</p>
<ul style="font-size:16px;line-height:20px;padding-bottom: 10px; padding-left: 12px; margin: 0;">
<li style="font-size: 16px;line-height:140%; margin: 0 0 0 15px; padding: 0px 0px 10px">
Alphabet said it would slash 12k jobs on Friday after adding 30k+ jobs in 2022, per the
<em>
Wall Street Journal
</em>
.
</li>
<li style="font-size:16px;line-height: 140%; margin: 0 0 0 15px; padding: 0px">
Microsoft said it would cut ~10k jobs last week after adding 40k in the last fiscal year.
</li>
</ul>
<p style="font-size:16px;line-height:140%; margin: 5px 0px 10px;">
Basically, tech companies are backing away from staff counts they believed were necessary for a tech-centric future that hasn’t come to fruition.
</p>
<p style="font-size:16px;line-height:140%; margin: 5px 0px 10px;">
<strong>
Then there are the Fed’s interest rate hikes
</strong>
</p>
<p style="font-size:16px; line-height:140%; margin: 5px 0px 10px;">
As you likely know (especially if you kept trying to buy a house), borrowing has gotten more expensive. Without cheap money, investors are less willing to subsidize long runways and pie-in-the-sky projects, according to
<a style="color: #192733; text-decoration: underline !important;">
<em>
The
</em>
<em>
New York Times
</em>
</a>
.
</p>
<p style="font-size:16px;line-height: 140%; margin: 5px 0px 10px;">
Tech companies are shifting their focus accordingly to making money instead of chasing long-term growth. And terribly enough, investors
<em>
have liked
</em>
these recent layoffs:
</p>
<ul style="font-size:16px;line-height:20px;padding-bottom: 10px; padding-left: 12px; margin: 0;">
<li style="font-size: 16px; line-height: 140%; margin: 0 0 0 15px; padding: 0px;">
Spotify’s stock
<a style="color: #192733; text-decoration: underline !important;">
jumped 5%
</a>
after its layoff announcement Monday before cooling off in the afternoon. Alphabet and Wayfair experienced similar spikes after layoff announcements.
</li>
</ul>
<p style="font-size: 16px; line-height: 140%; margin: 5px 0px 10px;">
<strong>
Is it all vibes then?
</strong>
<em>
The Atlantic
</em>
’s Derek Thompson
<a style="color: #192733; text-decoration: underline !important;">
doesn’t rule it out,
</a>
writing that one explanation for the layoffs could be tech CEOs mimicking each other to get a brief high from the market.
</p>
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TRENDING
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<p style="font-size:16px; line-height: 140%; margin: 5px 0px 10px;">
<strong>
Bad at making eye contact on Zoom?
</strong>
Nvidia’s new Eye Contact feature
<a style="color: #192733; text-decoration: underline !important;">
makes it appear like
</a>
you’re looking directly at the camera even if you’re most definitely not.
</p>
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<td style="color: #bf2434; font-size: 16px; font-weight: bold; letter-spacing: 1.5px; padding: 10px 3px 0px;">
SNIPPETS
</td>
</tr>
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<td class="h2020 ignore-defaults dynamic-snippets" style="font-size: 15px; line-height: 160%; margin: 0; padding: 15px 0px 3px 3px;">
<p style="font-size: 16px; line-height: 140%; margin: 5px 0px 10px;">
<strong>
“The way of water has no beginning and no end.”
</strong>
The
<em>
Avatar
</em>
sequel became the
<a style="color: #192733; text-decoration: underline !important;">
sixth movie ever
</a>
to surpass $2B at the box office, meaning our
<a style="color: #192733; text-decoration: underline !important;">
beautiful chart
</a>
is already outdated.
</p>
<p style="font-size: 16px; line-height: 140%; margin: 5px 0px 10px;">
<strong>
Former President
</strong>
Donald Trump
<a style="color: #192733; text-decoration: underline !important;">
reportedly
</a>
won’t re-sign a content exclusivity agreement with his Twitter clone, Truth Social.
</p>
<p style="font-size: 16px; line-height: 140%; margin: 5px 0px 10px;">
<strong>
Today? More like TodAI:
</strong>
Microsoft
<a style="color: #192733; text-decoration: underline !important;">
expanded
</a>
its multibillion-dollar investment in ChatGPT maker OpenAI. In other AI news, here’s
<a style="color: #192733; text-decoration: underline !important;">
a collection
</a>
of ~$300 ugly Italian sweaters that are invisible to image recognition software.
</p>
<p style="font-size: 16px;line-height:140%; margin: 5px 0px 10px;">
<strong>
For those watching
</strong>
HBO’s “The Last of Us,” Google dropped a creepy, interactive
<a style="color: #192733; text-decoration: underline !important;">
easter egg
</a>
ahead of the latest episode.
</p>
<p style="font-size:16px;line-height:140%; margin: 5px 0px 10px;">
<strong>
The SEC
</strong>
<a style="color:#192733; text-decoration: underline !important;">
fined
</a>
Bloomberg Finance LP $5m, alleging it misled customers on how it calculated some fixed-income securities prices.
</p>
<p style="font-size: 16px;line-height:140%; margin: 5px 0px 10px;">
<strong>
Mars
</strong>
is
<a style="color: #192733; text-decoration: underline !important;">
ditching
</a>
its M&Ms “spokescandies” over conservative backlash accusing the characters of being “woke.” Maya Rudolph will become the candy’s spokesperson instead.
</p>
<p style="font-size: 16px; line-height: 140%; margin: 5px 0px 10px;">
<strong>
Dieunerst Collin
</strong>
became a meme at age 9 while in line at Popeyes. Now a football player at Ohio’s Lake Erie College, he’s
<a style="color: #192733; text-decoration: underline !important;">
scored
</a>
a Popeyes sponsorship. (Read our previous coverage about the NCAA policy that lets college athletes earn money
<a style="color: #192733; text-decoration: underline !important;">
here
</a>
.)
</p>
<p style="font-size: 16px; line-height: 140%; margin: 5px 0px 10px;">
<strong>
Guilt trip:
</strong>
Do you find yourself feeling anxious or ashamed that you haven’t accomplished enough in a day? You could be suffering from
<a style="color: #192733; text-decoration: underline !important;">
productivity guilt
</a>
— we’re here to help.
</p>
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CHART
</td>
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<td style="padding: 0 0 1px;">
<a style="color: #192733; text-decoration: underline !important;">
<img alt="Apple moving manufacturing to India" class="featured-image" src="https://inboxflows.com/_/image/https%253A%252F%252Fmedia.sailthru.com%252Fcomposer%252Fimages%252Fsailthru-prod-6ks%252Findia_iphone.jpg/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZtZWRpYS5zYWlsdCJ9:1pKHWu:89CDwILOmvAKYe37vYQhG1ZLx6F9b9S8GM0tXwT_Ca4" style="height: auto; width: 100%; max-width:600px;" width="600"/>
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Singdhi Sokpo
</td>
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<h2 class="brief-title" style="font-family: 'Oswald', 'Roboto', helvetica, sans-serif; font-size: 22px;line-height: 26px; font-weight: bold; margin: 10px 0px 5px;">
Is India Apple’s next frontier?
</h2>
<div class="preview-text" style="color: transparent; display: none; height: 0; max-height: 0; max-width: 0; opacity: 0; overflow: hidden; mso-hide: all; visibility: hidden; width: 0;">
It sure is looking like it.
</div>
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2023-01-24T00:00:00Z
</div>
<div class="author-name" style="color: transparent; display: none; height: 0; max-height: 0; max-width: 0; opacity: 0; overflow: hidden; mso-hide: all; visibility: hidden; width: 0;">
Jacob Cohen
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<p style="font-size:16px; line-height: 140%; margin: 5px 0px 10px;">
Yesterday, India’s commerce minister Piyush Goyal noted that Apple could make 25% of all iPhones in his country by 2025, up from 5%-7% today.
</p>
<p style="font-size:16px; line-height:140%; margin: 5px 0px 10px;">
It’s “another success story” for a major business in the country, he said,
<a style="color: #192733; text-decoration: underline !important;">
according
</a>
to
<em>
CNBC
</em>
.
</p>
<ul style="font-size:16px; line-height: 20px; padding-bottom: 10px; padding-left: 12px; margin: 0;">
<li style="font-size: 16px; line-height:140%; margin: 0 0 0 15px; padding: 0px;">
Apple holds just 5% of India’s smartphone market. Last year, for the first time since it started manufacturing iPhones in the country, the company built its flagship phone there close to its launch.
</li>
</ul>
<h4 style="font-size: 17px; height:100%; letter-spacing: 0px; line-height: 22px; padding-top: 8px; margin: 0px;">
<strong>
Why India?
</strong>
</h4>
<p style="font-size:16px; line-height:140%; margin: 5px 0px 10px;">
Doing so could help reduce the iPhone’s price in the country, which could increase Apple’s market share there. In September, the standard iPhone 14 in India
<a style="color: #192733; text-decoration: underline !important;">
cost
</a>
79.9k rupees (~$980), compared to $799 in the US, per
<em>
TechCrunch
</em>
.
</p>
<p style="font-size: 16px; line-height: 140%; margin: 5px 0px 10px;">
But the better question to ask instead of “Why India?” may be: “Why
<em>
not
</em>
China?”
</p>
<p style="font-size:16px;line-height:140%; margin: 5px 0px 10px;">
The answer is that Apple, like much of the tech industry, is looking to move away from a Chinese supply chain that’s vulnerable to intensifying geopolitical
<a style="color: #192733; text-decoration: underline !important;">
risks
</a>
and a
<a style="color: #192733; text-decoration: underline !important;">
shrinking
</a>
workforce.
</p>
<p style="font-size: 16px; line-height:140%; margin: 5px 0px 10px;">
<strong>
Meanwhile,
</strong>
we’re still unpacking
<a style="color:#192733; text-decoration: underline !important;">
the sight of
</a>
Jeff Bezos leading Amazon’s fleet of 10k EV rickshaws into India.
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</p>
<p style="font-size:16px;line-height: 140%; margin: 5px 0px 10px;">
These insights stem from our survey of real-time revenue leaders.
</p>
<h4 style="font-size:17px;height: 100%; letter-spacing: 0px; line-height:22px; padding: 8px 0px 10px; margin: 0px;">
<strong>
Tips for winning in this economy (PDF guide):
</strong>
</h4>
<ul style="font-size:16px;line-height: 20px; padding-bottom:10px; padding-left:12px; margin: 0;">
<li style="font-size:16px;line-height:140%; margin: 0 0 0 15px; padding: 0px;">
Bolster your tech stack + data structure
</li>
<li style="font-size:16px;line-height: 140%; margin: 0 0 0 15px;padding: 0px;">
Apply a disciplined outreach strategy
</li>
<li style="font-size:16px;line-height: 140%; margin: 0 0 0 15px;padding: 0px;">
Nurture your account relationships
</li>
<li style="font-size:16px;line-height:140%; margin: 0 0 0 15px; padding: 0px;">
Simplify + personalize your messaging
</li>
<li style="font-size:16px; line-height:140%; margin: 0 0 0 15px; padding: 0px;">
Deepen the customer’s experience
</li>
</ul>
<p style="font-size: 16px;line-height:140%; margin: 5px 0px 10px;">
It hits on prospecting, generating leads, and solving for the people.
</p>
</td>
</tr>
<tr class="cta-a-btn" style="text-decoration: unset !important; color: unset !important;">
<td align="center" style="text-align: center; padding: 10px 0px 15px;">
<a style="background-color: #BF2434; font-size: 16px; font-family: 'Roboto', helvetica, sans-serif; font-weight: bold; text-decoration: none !important; color: #ffffff !important; -webkit-text-fill-color: #ffffff; border-radius: 8px; display: inline-block; mso-padding-alt: 0; padding: 7px 20px;">
<!--[if mso]><i style="letter-spacing: 25px; mso-font-width: -100%; mso-text-raise: 30pt;"> </i><![endif]-->
<span style="mso-text-raise: 15pt;">
5 gems on driving revenue →
</span>
<!--[if mso]><i style="letter-spacing: 25px; mso-font-width: -100%;"> </i><![endif]-->
</a>
</td>
</tr>
</table>
</td>
</tr>
<tr>
<td style="border-bottom-color: #eaf0f6; border-bottom-style:solid; border-bottom-width: 1px; padding-top: 5px;">
</td>
</tr>
<tr>
<td style="padding-bottom:5px">
</td>
</tr>
<tr style="display:block; padding: 10px 2px 0px;">
<td style="width:100%">
<table style="width:100%">
<tr>
<td style="color:#bf2434;font-size:16px; font-weight: bold; letter-spacing: 1.5px; text-transform: uppercase; padding: 0px 0px 10px;">
Cart Capers
</td>
</tr>
<tr>
<td style="padding: 0 0 1px;">
<a style="color: #192733; text-decoration: underline !important;">
<img alt="shopping carts" class="featured-image" src="https://inboxflows.com/_/image/https%253A%252F%252Fmedia.sailthru.com%252Fcomposer%252Fimages%252Fsailthru-prod-6ks%252Fbluecarts.png/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZtZWRpYS5zYWlsdCJ9:1pKHWu:89CDwILOmvAKYe37vYQhG1ZLx6F9b9S8GM0tXwT_Ca4" style="height: auto; width:100%; max-width: 600px;" width="600"/>
</a>
</td>
</tr>
<tr>
<td>
<h2 class="brief-title" style="font-family: 'Oswald', 'Roboto', helvetica, sans-serif; font-size: 22px; line-height: 26px; font-weight: bold; margin: 10px 0px 5px;">
Where are the missing shopping carts?
</h2>
<div class="preview-text" style="color: transparent; display: none; height: 0; max-height: 0; max-width: 0; opacity: 0; overflow: hidden; mso-hide: all; visibility: hidden; width: 0;">
Shopping carts are frequently stolen, costing retailers an estimated tens of millions annually.
</div>
<div class="campaign-date" style="color: transparent; display: none; height: 0; max-height: 0; max-width: 0; opacity: 0; overflow: hidden; mso-hide: all; visibility: hidden; width: 0;">
2023-01-24T00:00:00Z
</div>
<div class="author-name" style="color: transparent; display: none; height: 0; max-height: 0; max-width: 0; opacity: 0; overflow: hidden; mso-hide: all; visibility: hidden; width: 0;">
Juliet Bennett Ryla
</div>
</td>
</tr>
<tr>
<td class="h2020 ignore-defaults brief-body" style="padding: 5px 0px 0px;">
<p style="font-size:16px; line-height: 140%; margin: 5px 0px 10px;">
Ever see a random shopping cart rolling down the sidewalk or tossed in a creek? Us too.
</p>
<p style="font-size: 16px; line-height: 140%; margin: 5px 0px 10px;">
The Food Marketing Institute estimates
<a style="color: #192733; text-decoration: underline !important;">
~2m
</a>
carts are stolen per year. It’s been an issue since carts were invented, and costs retailers an estimated tens of millions annually,
<a style="color: #192733; text-decoration: underline !important;">
per
</a>
<em>
CNN
</em>
.
</p>
<p style="font-size: 16px; line-height: 140%; margin: 5px 0px 10px;">
Costs include:
</p>
<ul style="font-size:16px; line-height: 20px; padding-bottom: 10px;padding-left: 12px; margin: 0;">
<li style="font-size:16px;line-height:140%;margin: 0 0 0 15px; padding: 0px 0px 10px">
Replacing missing carts, which can cost up to ~$250 each
</li>
<li style="font-size:16px;line-height:140%; margin: 0 0 0 15px; padding: 0px 0px 10px">
Paying vendors to retrieve carts
</li>
<li style="font-size:16px;line-height: 140%;margin: 0 0 0 15px; padding: 0px 0px 10px">
Lost revenue from shoppers who can’t find carts
</li>
<li style="font-size: 16px;line-height:140%; margin: 0 0 0 15px; padding: 0px;">
Municipal fines related to cart retrieval and storage
</li>
</ul>
<p style="font-size:16px;line-height:140%; margin: 5px 0px 10px;">
<strong>
Example:
</strong>
In 2022, Dartmouth, Massachusetts, fined Walmart $23k after public workers collected and stored 100+ carts over two years.
</p>
<h4 style="font-size:17px;height: 100%; letter-spacing: 0px; line-height: 22px;padding-top: 8px; margin: 0px;">
<strong>
Why are people taking carts?
</strong>
</h4>
<p style="font-size: 16px; line-height:140%; margin: 5px 0px 10px;">
Even though cart theft is illegal, they’re pretty handy — and not just at the grocery store.
</p>
<p style="font-size: 16px; line-height: 140%; margin: 5px 0px 10px;">
Unhoused individuals use carts as shelters or to store and transport belongings, while people without cars may cart groceries home or to a transit stop. And as homelessness has increased, so too have missing carts.
</p>
<h4 style="font-size:17px;height:100%;letter-spacing: 0px; line-height:22px; padding-top:8px;margin: 0px;">
<strong>
What can be done about it?
</strong>
</h4>
<p style="font-size:16px; line-height:140%; margin: 5px 0px 10px;">
Apart from increasing affordable housing and improving public transit and accessibility?
</p>
<p style="font-size:16px;line-height:140%; margin: 5px 0px 10px;">
Some stores are trying:
</p>
<ul style="font-size:16px;line-height:20px; padding-bottom:10px; padding-left: 12px; margin: 0;">
<li style="font-size:16px;line-height: 140%; margin: 0 0 0 15px; padding: 0px 0px 10px">
Wheels that lock if taken off-property, which sometimes
<a style="color: #192733; text-decoration: underline !important;">
irritate shoppers
</a>
</li>
<li style="font-size: 16px;line-height:140%; margin: 0 0 0 15px; padding: 0px;">
Barriers that prevent carts from leaving stores — not ideal for shoppers with disabilities or heavy purchases
</li>
</ul>
<p style="font-size:16px;line-height:140%; margin: 5px 0px 10px;">
Meanwhile, Aldi’s
<a style="color: #192733; text-decoration: underline !important;">
requires
</a>
quarter deposits as an incentive to return carts. Other stores use QR codes and member IDs to unlock and track carts.
</p>
<p style="font-size: 16px; line-height: 140%; margin: 5px 0px 10px;">
<strong>
BTW:
</strong>
Check out Julian Montague’s
<a style="color: #192733; text-decoration: underline !important;">
Stray Shopping Cart Project
</a>
, featuring an extensive identification system.
</p>
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AROUND THE WEB
</td>
</tr>
<tr>
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<p style="font-size: 16px; line-height: 140%; margin: 5px 0px 10px;">
🍺
<strong>
On this day:
</strong>
In 1935, the
<a style="color: #192733; text-decoration: underline !important;">
first canned beers
</a>
— Krueger’s Finest Beer and Krueger’s Cream Ale — hit the market in Richmond, Virginia. With 91% customer approval, Gottfried Krueger Brewing Co. produced more.
</p>
<p style="font-size:16px;line-height:140%; margin: 5px 0px 10px;">
👀
<strong>
That’s cool:
</strong>
Arkive, an online museum we covered
<a style="color: #192733; text-decoration: underline !important;">
here
</a>
, launched a
<a style="color: #192733; text-decoration: underline !important;">
digital magazine
</a>
.
</p>
<p style="font-size: 16px; line-height: 140%; margin: 5px 0px 10px;">
🐾
<strong>
That’s interesting:
</strong>
From 1945 to 1994, Great Britain
<a style="color: #192733; text-decoration: underline !important;">
employed
</a>
sled dogs to explore Antarctica.
</p>
<p style="font-size:16px;line-height: 140%; margin: 5px 0px 10px;">
<strong>
🛒 Useful:
</strong>
<em>
NPR
</em>
<a style="color: #192733; text-decoration: underline !important;">
rounded up
</a>
some alternatives for ethical shopping in the wake of AmazonSmile’s impending
<a style="color: #192733; text-decoration: underline !important;">
closure
</a>
.
</p>
<p style="font-size: 16px; line-height: 140%; margin: 5px 0px 10px;">
<strong>
🐁 Aww:
</strong>
And now, a very tiny baby
<a style="color: #192733; text-decoration: underline !important;">
dormouse
</a>
.
</p>
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</tr>
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TWEET
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Hot commodity. (
<a style="color: #192733; text-decoration: underline !important;" target="_blank">
Link
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)
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TELL FRIENDS → GET PRIZES
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Or copy this custom referral link:
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Today's email was brought to you by
<a style="color: #192733; text-decoration: underline !important;" target="_blank">
Jacob Cohen
</a>
,
<a style="color: #192733; text-decoration: underline !important;" target="_blank">
Juliet Bennett Rylah
</a>
, and
<a style="color: #192733; text-decoration: underline !important;" target="_blank">
Rob Litterst
</a>
.
<br/>
Editing by: Mark “Always returns his cart” Dent.
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