Hi, today we explore: (1) The social media momentum game, (2) The categories that inflation is impacting most, (3) HelloFresh is looking a bit stale. TOGETHER WITH Today's Topics Hello! George Santos announced that he wonât be seeking re-election following a scathing ethics report detailing [personal expenses]( allegedly paid for with campaign funds, including $20k worth of rent, OnlyFans purchases, and botox. Today we explore: - Pop app: Social media buzz is difficult to maintain.
- Inside inflation: Which prices are rising the most?
- Sell-by: HelloFresh shares are tanking, as users give up on the meal-kit delivery service. Have feedback for us? Just hit reply â we'd love to hear from you! [Read this on the web instead]( Pop app If you spend time on the internet, you'll know itâs rare to go more than a few months without hearing about a new social media app, each with a fresh angle that promises to break the cycle of mindless scrolling. This week, it was the turn of [Lapse]( â which, counterintuitively, uses the astonishingly impressive iPhone lens to mimic a disposable camera â ranking 3rd on the App Store chart for free apps. But, if creating a breakout hit is hard, maintaining that momentum is much, much harder. Analysis of the relative Google search volume for the internetâs most recognizable platforms shows that, bar a few familiar exceptions, whatever interest initially goes up, comes down hard when apps fall out of favor (see: Bebo, Vine, Friendster, MySpace, Clubhouse, BeReal, and many, many more). Even having one of the most famous people on the planet as your talisman canât guarantee success. This week, former President Trumpâs platform [Truth Social]( reported operating losses of ~$35 million since its inception, as the social network remains in legal and regulatory limbo. Unsocial media Platforms like Lapse and BeReal are sometimes billed as being anti-Instagram by attempting to reconnect people with their friends and family in an unfiltered way â filling a gap for social media thatâs actually social, rather than focused on news or entertainment. But, while the mega apps are old and ugly enough to act as lightning rods for regular criticism (Facebook will turn 20 in March), people canât seem to stop using them. Indeed, just this week, Apptopia data revealed that Metaâs [biggest apps]( saw modest increases in daily users, beating out Gen-Z mainstay TikTok. Growing slower The pace of price rises in the US has slowed, with the latest Consumer Price Index (CPI) up 3.2% in October compared to the same period [in 2022](. Although it's an overall increase, the rate is down from 3.7% in September â and it's the lowest annual rise [since June](. However, itâs important to remember that the overall CPI figure is only a composite picture of the wildly complicated US economy, and prices have been rising and falling more extremely across the board. Inside inflation Indeed, the BLS index measures monthly price fluctuations across more than 300 individual categories of spending, from the price of rice to college tuition fees. Take cars, for example, which are costing us both more and less than last October, depending on what youâre trying to do with them. Filling one up or buying a used one? That will set you back 5.3% and 7.1% less than last year, respectively. If youâre looking to get one insured, however, youâll pay 19.2% more than if youâd taken out a policy last October, and maintaining and repairing your vehicle will set you back almost 10% more on average as well. [Sponsored by Sidebar]( The best leaders never stop learning, even when theyâre flying. In fact, studies show that successful individuals are more likely to direct their own learningâ¦but leadership can get lonely. As your responsibilities increase, your pool of peers shrinks â a phenomenon thatâs driving more and more high performers to seek out [peer-led learning](. Communities of growth-minded peers arenât easily foundâ¦so [Sidebar created one](. Your personal Board of Directors Using their next-gen matching technology, [Sidebar]( sorts you into a high-impact peer group you can rely on for honest feedback and tactical discussions. [Sidebar]( bi-weekly meetings facilitated by experts are a launchpad for your goals and growth. And it works: 93% of members say Sidebar has significantly contributed to their professional trajectory. Apply in minutes â over 10,000 senior leaders from the likes of Nike, Microsoft and Meta have taken the first the step to start accelerating their careers with [Sidebar](. [Get started with Sidebar now]( Soured HelloFresh was looking a little past its âsell-byâ date this week: after the company cut its profit guidance for the year, investors dumped shares, which saw the stock price fall ~14% on Thursday. The move leaves the companyâs stock down 52% since mid-September, wiping some $3.4 billion from the meal maker's value. While itâs unknown exactly what moved HelloFresh to issue the profit warning â just 3 weeks after it had restated financial targets on a quarterly earnings call in October â the German company [pointed to]( weaker-than-expected sales growth and rising costs in North America, where 56% of its active customers are based. Founded in Berlin in 2011, when co-founders personally hand-packed the early pre-prepped meals, HelloFresh was one of the first leaders in the âmeal-kit deliveryâ industry, quickly expanding into the US and eventually becoming the [most popular]( meal-kit service in the world. On a list of âbusinesses that boomed during the pandemicâ, HelloFresh wasnât quite on Zoom's level... but it wasnât far off. Although millions turned to the convenience of regular food deliveries during lockdown, holding onto subscribers has proved difficult in 2023, with its customer count falling in each of the last 4 quarters â shedding 440,000 HelloFreshers in Q3. More Data ⢠At the start of November, Portugal produced enough renewable electricity to serve the nationâs needs for a whopping 6 [consecutive days](. ⢠Fake it till they take it: Feds just made the biggest counterfeit bust in US history, after seizing $1bn worth of knock-off handbags and shoes from an NYC [storage unit](. ⢠In 2x 90-min meetings each week, [Sidebar]( connects you with a peer group that inspires growth and pushes your career to new heights. 93% of members agree Sidebar has significantly contributed to their professional trajectory â [apply to join them here]( ⢠A [new report]( has outlined a worrying 65% rise in health insurance claims for eating disorder treatments in the US. ⢠Now's the time to buy a second-hand watch, as prices for brands like Rolex and Patek Philippe have fallen to their lowest point in 2 years on the [resale market](. ⢠Soda stream: New York state is suing PepsiCo for contributing over 17% of the plastic pollution along the [Buffalo River](. **This is sponsored content. Hi-Viz ⢠From Jesus to Jesse James: a data-viz deep dive on the historical figures that pop up most on the [silver screen](. Off the charts: Which car-maker, that continues to face [legal repercussions]( after a wave of social-media inspired thefts, has Amazon announced will be available for users to buy on the [shopping site]( [Answer below]. [Answer here](. Thanks for reading. See you on Sunday for our deep dive!
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