Plus: An AI-powered baby startup raises $25m. Brought to you by The Hustle together with eToro. February 24, 2021
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[eToro]( The 3rd high-ranking âJeffâ is leaving Amazon. Jeff Blackburn (a close aide to Jeff Bezos) is calling it quits, following in the footsteps of Jeff Wilkes (Amazon Retail CEO) and Bezos himself. Fortunately for the ecommerce giant, LinkedIn research shows there are still 2,110 people named "Jeff" at the company. The Big Idea
[computer] Better late than never: America is speeding up its broadband strategy Early in February, a 90-year-old LA man did something weâve all dreamed about: He spent $10k buying a [WSJ ad]( to call out AT&Tâs CEO on the companyâs shoddy internet speed. Unsurprisingly, it went [viral](. The story serves as a reminder of Americaâs broadband challenges at a time when internet speeds are more important than ever. Even so, slow internet was a pre-pandemic problem About 14.5m Americans [lack access]( to broadband speeds of at least 25/3 Mbps (download/upload), which is hardly enough to sustain a family with Zoom in one room, Teams in another, and Bridgerton on downstairs. Itâs a divide that mostly falls along urban-rural lines: While 78% of the US [has access]( to speeds of 100/25 Mbps, only 30% has access to affordable plans at those speeds. Now, the governmentâs dead serious about solving this The [broadband issue]( is, for the most part, a super-rare instance of bipartisan agreement in 2021: - In Nebraska, 11 bills have been introduced to widen broadband access.
- Texas state senators are working to build a Broadband Development Program.
- Ohio Gov. Mike DeWineâs budget proposal included $210m for improving broadband access. Decemberâs federal COVID relief bill wrapped in $7B for broadband programs -- and this month, the House Energy & Commerce Committee advanced $7.6B in funding to improve internet access for students and teachers. New tech could also bring some fresh changes The FCC plans to update the agencyâs long-criticized broadband maps to help better identify regions without proper internet access. Also in the mix is SpaceXâs internet-beaming satellite [project](, Starlink. In December, the FCC awarded SpaceX $886m in subsidies to help bring high-speed broadband to rural areas. One group of people not happy about this: [astronomers](. The satellites can mess with telescopic observations by making them look like this: Starlink satellites cross the view of telescopes at the Cerro Tololo Inter-American Observatory in Chile. (Source: CTIO) [Share on Facebook]( [Share on Twitter]( [Send as email to a friend](mailto:?subject=The%20Hustle%20wrote%20something%20I%20think%20you%27ll%20like...%0A&body=Better+late+than+never%3A+America+is+speeding+up+its+broadband+strategy%0Ahttps%3A%2F%2Fthehustle.co%2F02242021-American-broadband%3Futm_campaign%3DUS%2BInternet%26utm_content%3D02242021-American-broadband%26utm_medium%3Demail%26utm_source%3Ddaily%0A%0AYou%20can%20subscribe%20with%20my%20link%20here%20to%20get%20the%20latest%20in%20tech%20and%20business%20daily:%0A [View on our website]( Snippets - Facebook vs. Australia update: After Zuck banned the sharing of all Australian news links on Facebook to protest a [proposed bill](, the Parliament down under appears to be backing down. (We wrote more [here](.)
- More saving spending. More doing. Home Depotâs Q4 sales were up 25% YoY, with [revenue]( reaching $32.3B as the pandemicâs DIY trend continues.
- Lucid Motorsâ flat tire: Following the announcement of a merger deal with Churchill Capital, shares of the SPAC [were down]( 46% after the companies confirmed a delay in deliveries of the brandâs first car.
- $5B oats: Sweden-based vegan food and drink maker Oatly is [reportedly]( planning an IPO that would value the company between $5B and $10B.
- Square doubled down on Bitcoin with a $170m [purchase]( of the cryptocurrency. The new trade follows Squareâs October 2020 purchase of 4,709 bitcoin (~$50m), and the digital currency now accounts for ~5% of the companyâs assets.
- Button up: Appleâs sign-in button is raising antitrust eyebrows, with investigators looking at how its button requirement makes it harder to switch devices, per [The Information](.
- Klarna -- the âbuy now, pay laterâ (BNPL) fintech startup -- is in talks to raise $1B at a $31B valuation, making it Europeâs most valuable startup. (We wrote more on BNPL [here](.) Â Sports Tech
Workinâ on them delts (Source: YouTube/Therabody) This health tech startup just added 100+ celebrities to its cap table Celebrities investing in startups is nothing new. However, health startup [Therabody]( recently took it to extreme levels when it announced a funding round with 100+ sports and media personalities, including Jay-Z, Maria Sharapova, James Harden, and Rihanna. The startupâs main product is the Theragun. To be honest, it doesnât really look like a gun, but its percussion technology purportedly creates a portable masseuse for recovery. The valuation is not public⦠But Joe Pompliano, who writes the sports business newsletter [Huddle Up](, highlights some strong numbers from Therabody: - A 3x increase in revenue YoY
- 250+ active or pending patents
- A 250x increase in retail distribution (40 stores in 2019 â 10k in 2021) Therabody has also inked multiyear agreements with billion-dollar European soccer giants like Real Madrid and Paris-Saint Germain. The opportunity: Interconnection Pompliano notes that the true financial upside of this market is in âthe ability to interconnect⦠wellness tracking applications and recovery technology like percussion massage guns and dynamic air compression boots.â While you may not be able to mimic Kevin Durant on the court, you can certainly recover like him⦠if that pulsing action does deliver the goods. [Share on Facebook]( [Share on Twitter]( [Send as email to a friend](mailto:?subject=The%20Hustle%20wrote%20something%20I%20think%20you%27ll%20like...%0A&body=This+health+tech+startup+just+added+100%2B+celebrities+to+its+cap+table%0Ahttps%3A%2F%2Fthehustle.co%2F02242021-Therabody%3Futm_campaign%3DUS%2BInternet%26utm_content%3D02242021-Therabody%26utm_medium%3Demail%26utm_source%3Ddaily%0A%0AYou%20can%20subscribe%20with%20my%20link%20here%20to%20get%20the%20latest%20in%20tech%20and%20business%20daily:%0A [View on our website]( SPONSORED
âItâs like buying Bitcoin in 2015â Quick! What was the price of a single Bitcoin in February, 2015. Try ~$240. Itâs a lot higher today, but get this -- famed investors think itâs only going up. Why? Well, weâre inviting you to find out from an expert deep in all things BTC. This week, The Hustle team is speaking with Guy Hirsch, the US Managing Director at leading crypto-investing platform eToro in an [exclusive event](for subscribers. Topics on the agenda: - How savvy investors are using Bitcoin and cryptocurrencies to hedge against inflation.
- Are cryptocurrencies a suitable form of wealth accumulation?
- Guyâs prediction on when crypto will be a usable currency.
- What can stop cryptoâs rise?
- What will the US government do? Plus, youâll get an inside look at what itâs like to run a high-profile crypto-trading platform -- IRL Wolf of Bit Street stuff-- and [$50 when you create an eToro account to trade crypto](.* Event starts at 2pm CST this Thursday, 2/25. [Book It â]( Wearable tech for babies
[baby]( AI-powered wearable tech has found its way to babies [Wearable technology]( is the modern equivalent of the bell bottoms fad: 4 years ago, just 9% of US consumers wore a smart health tracking device; today, that number is at 33%. Now, real-time health tracking has extended to consumersâ babies. One of the powerhouses in this space is [Nanit](, an AI-powered sleep and growth tracking company for babies. It just closed a [$25m]( Series C. Smart baby monitor? Tell me more. It makes sense to track a babyâs sleep since newborns sleep [15+]( (glorious) hours a day. Nanitâs sleep-tracking products include HD cameras, breathing bands, and smart sheets. Along with its app (subscription needed), these measure: - Breathing: The camera picks up on the breathing band and specifically patterned clothing.
- Measurements and height: The smart sheetsâ patterns help the camera measure the baby. Nanitâs recent Series C funds international expansion and R&D of other smart nursery items like changing pads and night lights. Parents are going gaga over the baby market The baby product market in the US is projected to grow to [$85B]( by 2025. This is fueled in part by parents willing to pay for the latest in wearable and real-time monitoring products, including: - Owlet: This baby monitor competitor was last valued at [$1.07B](. It plans to go public via a SPAC soon.
- Snoo: These smart sleep aids include a [$1.5k]( bassinet. Safe to say, these baby companies are no longer crawling. Nanit is out of its playpen and sprinting. [Share on Facebook]( [Share on Twitter]( [Send as email to a friend](mailto:?subject=The%20Hustle%20wrote%20something%20I%20think%20you%27ll%20like...%0A&body=AI-powered+wearable+tech+has+found+its+way+to+babies%0Ahttps%3A%2F%2Fthehustle.co%2F02242021-%3Futm_campaign%3DUS%2BInternet%26utm_content%3D02242021-%26utm_medium%3Demail%26utm_source%3Ddaily%0A%0AYou%20can%20subscribe%20with%20my%20link%20here%20to%20get%20the%20latest%20in%20tech%20and%20business%20daily:%0A [View on our website]( Polarizing
[USPS vehicle] Source: Twitter (@Samjmintz) The United States Postal Service (USPS) is going all [electric]( on its future mail trucks. Defense firm Oshkosh was awarded the process after a we kid you not 6-year process. The contract is worth $482m over 10 years. Â As far as the [tweet]( above is concerned, reviews are, um, mixed (and not very safe for work). The Hustle Says 70% of adults do not get enough sleep. These two ex-professional athletes created a solution that tastes great and actually works. Try it today and [get 30% off your first 3 months]( with the code HUSTLE.* Fashion fans, take note. [This free Substack]( is a fun, fast, and easy way to explore your love of fashion. Want video meetings so real, youâll pinch yourself? The Meeting Owl gives you and your team 360 degree perspective, no matter where you are. 60K+ companies rely on it -- [add yours to that list right here.](* Savvy investors, take note: Distressed real estate markets provide tons of opportunity for you and your money. Take advantage of this hot opportunity by [investing in Caliberâs Mini-IPO before it ends this Friday.](* *This is a sponsored post. TRENDS
$2.7B raised in the last two months... Just today, Trends analysts published our latest deep dive on an industry that has already raised $2.7B in 2021 alone: Logistics tech. 50% of the USâ largest importers still use spreadsheets to manage complex international shipments. With e-commerce growing exponentially year over year, itâs not surprising that disruptors are appearing all over the place to challenge the larger players. And there are countless niches in the space that still need solutions. Weâve outlined the biggest opportunities we could identify, and ideas for how to tackle them, in [the Trends teamâs latest signal](. When you read through, youâll learn: - How one company identified a $3.2B problem, and how you can do the same
- How to get in early on a shift in logistics operations that will be âthe new normalâ by 2030
- Which ecommerce niches still have glaring inefficiencies, and how you can get started on building the solutions today If youâre not already a member of Trends, [sign up today for a $1 trial]( to get access to the full discussion. [Read the Deep Dive â]( Office research of the day
[video meeting] Source: Twitter (@hatr) AI job-based algorithms are touted as a âfaster, and more objectiveâ way to screen job candidates. One German news organization (BR24) tested the technology and found that placing a bookshelf in the [background]( makes a candidate look better on personality factors including openness, conscientiousness, extraversion and agreeableness. On a semi-related note: Hereâs a [link]( to dozens of bookshelf images. SHARE THE HUSTLE
[Hustle Cons Greatest Hits ebook]( Over the years, weâve learned⦠secrets. The business secrets, tips, and tricks that have helped founders go from zero to millions -- and even billions -- of dollars. Want to see âem? Just refer 3 more friends to The Hustle and weâll send you our curated set of interviews with founders from brands like Zola, AWAY, Vungle, Bonobos, and more. Hereâs a message you can use to share with your friends: Hey! Do you read The Hustle? Itâs the best daily business newsletter out there -- only takes 5 minutes to read and youâll sound like the smartest person in the room. Sign up here, itâs free: [ P.S. You can always check your referral count [here](. [Share The Hustle â]( How did you like todayâs email? Today's email was brought to you by [@TrungTPhan](, [Jacob Cohen]( and [Shelley Tang](.
Editing by: Zachary â#1 Fan of Old Man Complaintsâ Crockett, Paul Murky of Murky Research (Public Opinion Pollster).
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