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Paneraâs CEO is stepping down, fast and casually.
[The Hustle]( Fri, Nov 10
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Panera Breadâs CEO is stepping down in hopes of fixing our economy
Panera Breadâs founder and CEO, Ron Shaich, announced that he will step down at the end of 2017, not due to their struggling growth numbers, but to shed light on a problem that he believes is destroying the US economy: âshort-termism.â
He says that stepping down will allow him to âpush the debateâ against Wall-Streetâs obsession with short-term growth, telling [Business Insider]( âIâve been a CEO longer than Cal Ripken played baseball. And I can tell you: Short-termism has pervaded capital markets.â
What is short-termism exactly?
Short-term growth concentrates on setting quarterly objectives, usually in the digital space (marketers have nearly doubled their investment in search optimization in the past 4 years, spending nearly $3.4B on it in 2016).
But according to certain [marketing studies]( short-termism has caused a decline in companiesâ long-term expansion: chasing low-cost digital marketing at the expense of brand-building to drive long-term sales. AKA, olâ Ronnie Shaich ainât exactly wrong. And heâs not alone.Â
Thereâs actually a large group of [business leaders]( that companies are too focused on making money for shareholders, rather than spending resources on their employees and innovation -- both of which create larger problems for the economy.
So, heâs saying âau revoirâ -- but first, heâs buying Au Bon Pain
Last Wednesday, Panera purchased their eerily similar fast-casual competitor Au Bon Pain for an undisclosed sum, a chain that he helped launch in the 80s.
Shaich claims the acquisition will help Panera grow its business in areas that they donât have as much of a presence in. Think of it as a little parting gift bought on somebody elseâs dimeâ¦
Make me a bread bowl, fast, yet casually
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Colombiaâs 12-ton coke bust is just a drop in the dime-bag
On Wednesday, Colombian president Juan Manuel Santos reported that officials had [seized 12 TONS of cocaine]( (over 13 million gram-bags) -- the biggest nose beer bust in the countryâs history.
The drugs were dug up from under 4 farms in a region once ruled by Pablo Escobar and the Medellin cartel, now run by a drug lord known as âOtonielâ Â who heads up Columbiaâs most powerful drug running operation, the Gulf Clan.
So far, Police have confiscated [362 tons of white lightning]( this year, up from 317 tons last year.Â
Thatâs a veritable bunny slope of Colombian snowâ¦
But thereâs more fresh pow on the slopes than ever. Colombiaâs production is the highest itâs been in 20 years, making it the worldâs largest coke producer as of March.
And, the US State Department estimates the country has the capacity to produce as much as 495 tons of coke, which means there are still 178m tons of stardust unaccounted for -- not to mention the 900+ tons of Colombian Christmas gracing coffee tables across the globe.Â
In other words, this police photo-op is mostly show⦠and the worldâs still full of blow.
[Is Pepsi OK?](
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Does Facebook exploit our vulnerabilities?
Facebook is often cast as an addictive abyss of self-congratulatory humblebrags, feather-puffing, and people desperate for validation in the form of iconized thumbs and smiley faces.
And apparently, the companyâs OG president, [Sean Parker]( agrees.
Thumbs down
In a searing [interview with Axios]( Parker -- who now identifies as a  âconscientious objectorâ of social media -- questioned the morality of FBâs business model.
Among his quips:
- Facebook is "a social-validation feedback loop [that exploits] a vulnerability in human psychology."
- Facebook âliterally changes your relationship with society, with each other⦠It probably interferes with productivity in weird ways.â
- Facebookâs ethos is all about ââHow do we consume as much of your time and conscious attention as possible?â"
Parker ceded that, from the onset, the company capitalized on the addictiveness of recognition and acceptance to build a loyal following.
Thereâs some truth to this
Studies have shown that the constant social comparison on Facebook can lead to the [erosion of self-esteem]( and an overall decline in well-being and life satisfaction. Other [research]( has suggested the platform makes us unhappy by increasing our feelings of envy and jealousy.
Beyond this, getting feedback on Facebook -- likes, shares, comments -- activates the[pleasure center]( in our brains, and when our posts donât generate feedback, it can invoke feelings of worthlessness.
Takeaway: be sure to enjoy the real world⦠like [Zuck](.
[Guy reads The Art of Happiness one timeâ¦](
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Branded podcasts are the new branded blogs
Case in point: Walmart has one.Â
The podcast craze is showing no signs of slowing: this year, [112m Americans]( -- and nearly half of those age 12 or older -- will listen to one, and industry ad revenue is up [85%](.
Now, in a bid to create cult-like followings around their brands, large corporations are launching their own audio shows.
Move over, T. Gross
Earlier this year, [Walmart]( announced it would produce its own podcast, âOutside the Box,â focusing on âsustainability, American manufacturing, [and] the workforce of the future.â It was so popular, theyâre now working on a second season.
This past summer, [eBayâs]( âOpen for Businessâ podcast, co-produced with Gimlet, took the #1 spot on iTunesâ business podcasts list, and GEâs sci-fi show, âThe Message,â generated millions of downloads.
A golden opportunity
Many of these âbrandedâ podcasts are far removed from the products or services these companies are actually selling. But weâre now in an age where the line between ads and media is [rapidly blurring]( so this kind of subliminal content is par for the course.
Itâs also a smart move. Podcasts tend to reach a desirable demographic (young, upwardly-mobile professionals) at a particularly desirable time (their commutes). That means their average listener has money and attention to spend -- the marketerâs holy grail.
[A nice fireside âcast](
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friday shower thoughts
- George Orwell predicted cameras watching us in our homes, but he didnât predict that we would buy and install them ourselves.
- Besides killing germs, hand sanitizer is also great at reminding you of minor injuries to your hand that you had forgotten about.
- Out of the 5 Spice Girls, Ginger is the only one thatâs actually a spice.
- No one has ever been inside an empty room.
- Where the heck do hamsters roam free in the wild??
- via [Reddit](
This edition of The Hustle was brought to you by
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