🛍️ YouTube’s ecomm bet

PLUS: David of DavidsTea is back with a new tea brand. November 16, 2021 [The Hustle]( This is truly chilling news. The global chip shortage has gotten so bad, General Motors said it will start conserving chips for more critical components by removing the heated seat option from certain models. Today’s rundown: - YouTube meets QVC: The platform takes on shoppable videos. - Serious sandwiches: Firehouse Subs just sold for $1B. - The future of tea: Our convo with an industry expert. - Around the web: The truth about Betty Crocker, how to convince your boss to keep a WFH policy, and more internet finds. Let’s do it. The Big Idea [YouTube logo]( YouTube is going all-in on livestream ecommerce China’s ecommerce game is on another level. In October, a Chinese internet celebrity known as “The Lipstick King” sold [$1.7B]( (yes, billion) of beauty products during a 12-hour livestream (yes, 12 hours). The broader industry -- known as social commerce in China -- notched $352B last year, per [Bloomberg](. That’s ~10x the comparable American market Now, YouTube wants to change that. As part of its push into ecommerce, the Google Alphabet-owned video platform launched Holiday Stream and Shop. The weeklong event started on Monday and features internet celebs (MrBeast, Patrick Starrr) selling merch directly from YouTube. The company plans to roll out the concept -- called shoppable videos -- to more users in coming weeks (conveniently, in time for the holidays). YouTube’s existing business… … is huge, with [revenue]( in the latest quarter ($7.2B) nearly on par with Netflix ($7.4B). The ecommerce play is a hedge against Alphabet’s Big Tech frenemies: - Apple: The iPhone maker’s new privacy policy restrictions impacted YouTube ad sales. - Amazon: It’s estimated that [63%]( of US customer product searches start on Amazon (not Google). Alphabet has teamed up with Square and Shopify in an “anti-Amazon alliance.” Do American shoppers want livestream? While QVC and The Home Shopping Network still make [billions]( a year, tech companies haven’t cracked the code. But with the prize so big, the field is crowded with Facebook, Snapchat, and TikTok all launching livestream products. Right now, YouTube’s shoppable videos will only sell beauty and tech products. We’re waiting for the day we can crown someone “The Sauce King” after they sell $2B of mustard on YouTube in 12 hours. [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=YouTube+is+going+all-in+on+livestream+ecommerce%0Ahttps%3A%2F%2Fthehustle.co%2F11162021-YouTube-shoppable-videos%3Futm_campaign%3DYouTube%2Bshoppable%2Bvideos%26utm_content%3D11162021-YouTube-shoppable-videos%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 High score: App Annie [reported]( that in the first half of 2021 Indian consumers installed 4.8B games, making India the top market for mobile games globally. Throne not included: A $35m castle with a moat was [listed]( in Connecticut. The property also includes turrets and a drawbridge. SPAC on the menu: Presto, a restaurant tech startup best known for its pay-at-table kiosks, [announced]( plans to go public via SPAC merger at a valuation of $1B. Ghosting the market: Casper, the D2C mattress pioneer, [announced]( plans to be acquired by Durational Capital Management. The private equity firm that will take the company private. Huge: Paradigm -- headed by Coinbase co-founder Fred Ehrsam and former Sequoia partner Matt Huang -- raised a [$2.5B]( crypto fund, the largest crypto fund ever. --------------------------------------------------------------- Hey — enjoy getting quick updates on what you care about? Take [20 seconds]( to personalize your Snippets. Pick your preferences👇 and we’ll send you more of what you love. Boom. [Personalize my Email →]( Tasty [largest fast food conglomerates]( Visual: Singdhi Sokpo A sandwich chain started by firefighter brothers just sold for $1B Burger King parent company Restaurant Brands International said Monday it [acquired]( Firehouse Subs for $1B. The sandwich giant operates ~1.2k franchises in the US, Canada, and Puerto Rico, and anticipates doing $1.1B in sales this year. Firehouse was founded by firefighter brothers Chris and Robin Sorensen in 1994, and has granted $62.5m to public safety organizations since 2005. [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=A+sandwich+chain+started+by+firefighter+brothers+just+sold+for+%241B%0Ahttps%3A%2F%2Fthehustle.co%2F11162021-Firehouse-Subs%3Futm_campaign%3DYouTube%2Bshoppable%2Bvideos%26utm_content%3D11162021-Firehouse-Subs%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]( Tea Time [David Segal]( Q&A: David Segal on the future of tea As the David behind DavidsTea, David Segal has been a force in the tea business since 2008. We caught up with him about the future of tea, and his latest venture, Firebelly Tea, a brand that he founded with Shopify president Harley Finkelstein. Why isn’t there a market leader in tea? It’s remarkable how small the market for tea still is today, and I think it’s because people still think it has to be either coffee or tea rather than coffee and tea. How did Firebelly Tea come together? After leaving DavidsTea, I moved back to Ottawa and became good friends with Harley Finkelstein. He was having a hard time sleeping because of his afternoon coffee, so I told him to switch to green tea, and started curating a collection of green teas for him. That rekindled my love for curating tea collections and sharing them with others. What makes Firebelly different? Our 1st focus is on making incredible teas with high-quality ingredients. Unlike the majority of tea companies, we don’t use any artificial flavoring whatsoever. Our 2nd focus is on design -- we wanted to create a product that you feel great about displaying, drinking with friends, and can work into your daily rituals. Design is a huge focus from the tea boxes to our accessories. What’s your favorite tea? That’s like asking me to pick my favorite kid, but if I had to pick one, I would say Japanese Senchas. Read the rest of the Q&A [here](. [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=Q%26A%3A+David+Segal+on+the+future+of+tea%0Ahttps%3A%2F%2Fthehustle.co%2Finterview-david-segal-on-the-future-of-tea%2F%0A%0AYou%20can%20subscribe%20with%20my%20link%20here%20to%20get%20the%20latest%20in%20tech%20and%20business%20daily:%0A [View on our website]( TRENDS How to build a $100k/month agency... How do you go from $10k to $100k a month while maintaining good cash flow? That's what Bô-Soleil asked agency owners in[the Trends community](, and hundreds of our members responded: - Rachel said go upmarket with higher paying clients ($15k/month min retainer for 6 months) - Mike solved his own cash flow problem by increasing fees by 20% and then offered a 20% discount if clients prepay (they all do) - Max niched his clients and offering to a single service. They doubled their revenue in 60 days and have grown 50% top and bottom line YoY Can you talk with your network about stuff like this? That's the magic of our community. There are thousands of other business-builders there to help you every step of the way. [Level up your network and try one week of Trends for just $1.]( See you on the inside. [Get Access →]( AROUND THE WEB 😬 On this day: In 1938, Swiss chemist Albert Hofmann first [synthesized]( LSD in a lab. Five years later, Hofmann revisited the drug and accidentally absorbed some, leading to a very strange day. 💻 How to: If you fell in love with a WFH lifestyle over the pandemic, Fortune has a few [tips]( for convincing your boss or company to stick with it. 📋 Useful: If you just can’t be pressed to read the terms of service, [this site]( quickly breaks them down for you. 🍰 Wait, what: Betty Crocker has [never]( been a real person. The most recent image of the famous home chef was a painting of a composite of 75 women, made in 1996. 📸 That’s cool: Check out the [finalists]( for the Architectural Photography Awards. The winners will be announced next month. 🐈 Aww: And now, a woman [rates]( the various items her cat, Coconut, retrieves for her. Meme of the day [QVC meme] Source: [Meme Generator]( [The Hustle Recommends] Flowchart: When you should worry This flowchart is a good one to add to the bookmarks. The secret? 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