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The “Barbie” marketing team is operating at a different level...
June 28, 2023 View Online | Sign Up | Shop 10% Off

Morning Brew

VenHub

Good morning. There’s only one full-service state standing. Last week, Oregon lawmakers overturned a 72-year-old prohibition on pumping your own gas at gas stations, making New Jersey the only US state that still requires an attendant to fill up your tank.

Oregonians, welcome to the club. You’re about to discover one of the greatest joys in life: stopping the meter right on a round number.

Cassandra Cassidy, Sam Klebanov, Matty Merritt, Neal Freyman

MARKETS

Nasdaq

13,555.67

S&P

4,378.41

Dow

33,926.74

10-Year

3.767%

Bitcoin

$30,614.15

Delta

$46.09

*Stock data as of market close, cryptocurrency data as of 1:00am ET. Here's what these numbers mean.

  • Markets: The Dow snapped its seven-day losing streak and all three indexes powered higher after the release of a strong batch of economic data (in one report, a measure of consumer confidence shot up to its highest level since January 2022). Delta was Wall Street’s MVP after raising its profit forecast for the year. “The demand…is off the chain,” CEO Ed Bastian told CNBC.
 

ENTERTAINMENT

The summer the world turned pink

Illustrated pink globe Francis Scialabba

On Monday, Airbnb listed a real-life Barbie Malibu Dreamhouse hosted by “Ken.” It’s only available for two one-night stays, but if you’re lucky enough to score one of them, it won’t cost you a dime: “Ken’s thing is beach, not math,” according to a press release.

The Dreamhouse rental is yet another viral marketing stunt for the upcoming Barbie movie, which has cemented itself as the cultural event of the summer. A promotional effort that began in the spring with a selfie generator and a beguiling trailer (what exactly is the plot?) has ballooned to include seemingly infinite partnerships and even a themed boat cruise in Boston, proving that Kris Jenner works hard, but Barbie’s marketing team works harder.

In fact, the hype around the movie has inspired a whole new wave of interior design:

  • It’s leading more adults to decorate their homes in Barbiecore, “a palette made up primarily of hot pink, and similarly bold rosy hues like fuchsia and magenta,” the NYT reported.
  • According to the Times, searches for “Barbie aesthetic bedroom” on Pinterest jumped 1,135% from May 2022 to May 2023.

The pink fuzz is generating ear-piercing buzz

With every brand under the Malibu sun trying to get in on the Barbie action, Barbiecore is proving to be more than just a color palette. Mattel, the company that launched Barbie in 1959, and its 100+ brand collaborators, are seeing opportunity in seemingly every consumer category:

  • For gamers…Xbox is making a Barbie-themed console.
  • For style influencers…Aldo is collaborating with Barbie on pink shoes and accessories.
  • For amateur designers…Ruggable has a line of Barbie rugs and doormats.
  • For the finely motor-skilled…Impala sells Barbie and Ken’s neon yellow inline skates.

Mattel is hoping that these Barbie licensing deals will jolt the company from its current slumber: In the first quarter, it suffered an operating loss of $115 million and revenue fell 22% YoY.

If you’re not going to a theater on July 21…what are you doing? Not only is Barbie being released, but so is Christopher Nolan’s Oppenheimer, an epic about the development of the atomic bomb. We’re making it a double feature.—CC

     

TOGETHER WITH VENHUB

The convenient-est convenience store

VenHub

VenHub’s fully autonomous, 24/7 smart stores are the end of brick-and-mortar “convenience” stores as we know them. They’re theft-proof, can fit anywhere, and serve customers instantly.

Entrepreneurs also love them for their go-anywhere flexibility. VenHub’s robotics and AI can help store owners achieve up to 5x higher margins and open new locations in 98% less time. They’ve racked up $44m in smart-store preorders already.

With 152k+ convenience stores in the US generating $652b in sales, making convenience even more convenient is a huge market opportunity.

The best part? You can join them as a shareholder for a limited time. Don’t miss out on the journey. Learn more about the investment opportunity here.

WORLD

Tour de headlines

A runner in hazy Chicago

Canadian wildfire smoke goes global. Chicago took the title of “worst air quality in the world” yesterday after smoke from Canada’s wildfires drifted to the Great Lakes region and other parts of the US. Chicago residents most vulnerable from the smoke were urged to spend more time indoors, while all Michiganders received an air quality alert. The smoke from Quebec’s fires has even wafted over the Atlantic Ocean to Portugal, Spain, France, and other European countries—but unlike the haze that Dune-ified NYC a few weeks ago, the smoke in Europe does not present a health risk, since it’s much higher up in the atmosphere.

Diageo ditches Diddy after dispute. Spirits company Diageo broke off ties with Sean “Diddy” Combs after Combs sued it last month. In his lawsuit, the rapper and business mogul claimed that Diageo under-promoted his liquor brands—Ciroc vodka and DeLeón tequila—while hyping other celebrity spirits brands in its portfolio, such as George Clooney’s Casamigos tequila. Diddy accused Diageo of racial discrimination, claiming the company considered DeLeón a “black brand” to be marketed to “urban” customers. Diageo has denied the allegations but decided their business relationship was irreparable.

United CEO blasts the FAA as delays and cancellations mount. Tens of thousands of US flights have been delayed or canceled over the past several days, causing one of the worst stretches for air passengers this year. And while widespread thunderstorms have caused havoc, United CEO Scott Kirby also blamed the FAA for air-traffic controller shortages: “The FAA frankly failed us this weekend,” Kirby told staff on Monday. Airlines are biting their nails ahead of a Fourth of July air travel weekend that could top 2019 levels.

AUTO

Lordstown couldn’t save Lordstown

Lordstown auto plant Megan Jelinger/Getty Images

An EV startup that was supposed to save an Ohio town from going under…has gone under.

Lordstown Motors, maker of the Endurance electric pickup with in-wheel motors, filed for bankruptcy yesterday. It’s also suing its largest shareholder, Taiwanese manufacturer Foxconn, for failing to plug it with promised investments.

But just four years ago, it seemed like Lordstown Motors would be the Batman to its Gotham City: Lordstown, Ohio. In 2019, the company swooped in to buy a recently shuttered GM plant that used to be Lordstown’s largest employer.

  • The facility was repurposed for producing the Endurance, which Lordstown hoped would beat the likes of Rivian’s R1T and Ford F-150 Lightning as the first electric pickup to hit the road.
  • The Trump administration touted the deal as a major win for a town that believed its carmaking days were over, and the former president even showcased the pickup at the White House.

But after going public via SPAC in 2020, Lordstown has sputtered. One of its test vehicles spontaneously combusted, and it produced just 31 trucks by early this year, of which several were recalled.

All may not be lost for Lordstown, Ohio…Lordstown Motors sold the auto plant for $230 million to Foxconn last year, and the factory is due to start churning out EVs for another startup, Fisker, in 2025.—SK

     

TOGETHER WITH BRAVE

Brave

Easy-breezy web browsing. Want a cleaner internet? The Brave browser blocks ads, trackers, cookies, and those pesky cookie consent pop-ups on every page and website—even before and after videos. Cut out the noise online and get way better privacy. It takes only 60 seconds to switch. Available on desktop, Android, and iOS.

TV

Seacrest takes the ‘Wheel’

Ryan Seacrest Isaac Brekken/Getty Images

Two weeks after longtime host Pat Sajak said he was retiring from Triple Toss-Ups, the iconic game show Wheel of Fortune has found its new vowel seller: Ryan Seacrest.

That was fast. Sony Pictures Television likely didn’t want to flirt with any game show drama after everyone finally forgot about its Jeopardy! host-hunting fiasco following Alex Trebek’s death.

Seacrest is inheriting a Wheel that is still spinning after 48 years on air. At its peak in the 1980s, Wheel of Fortune brought in 40 million nightly viewers, and while those numbers have dropped off significantly, it still averages about 8.6 million.

From frosted tips to million-dollar gifts: In 2002, Seacrest skyrocketed to fame by interviewing hopeful pop stars and attractive people who were never told they couldn’t sing on American Idol. The man seems to always be juggling about five jobs at a time: Seacrest has hosted New Year’s Eve events, DJ’d radio shows, and gabbed with Kelly Ripa for six years on the morning talk show Live (which he left in April).

But…his new gig may not be such a time commitment. Being a primetime game show host is one of the most enviable jobs in Hollywood because it provides stability, offers mega payouts, and you only work a few days of the month. Meanwhile, Vanna White—who was rumored to be on the successor list—will stay on when Seacrest takes over, but she’s aggressively negotiating her first pay raise in 18 years, according to Puck.—MM

     

GRAB BAG

Key performance indicators

A gif of Homer Simpson slowly backing into leaves and disappearing. The Simpsons/20th Television via Giphy

Stat: More than 20 years of potentially “groundbreaking” scientific research worth an estimated $1 million was destroyed when a janitor mistakenly turned off a lab freezer at New York’s Rensselaer Polytechnic Institute, the university claimed in a lawsuit. The 2020 incident occurred when the employee tried to silence “annoying alarms” coming from the freezer but turned off the circuit breaker to the freezer—when he thought he was turning it on. The cell cultures and samples that were being used for photosynthesis research in solar panel development were left “unsalvageable,” BBC News reported.

Quote: “Ivan+Haley 23”

When in Rome…maybe don’t carve your and your girlfriend’s names onto the walls of the Colosseum? Italy’s culture minister is livid after an unidentified tourist (presumably Ivan?) engraved “Ivan+Haley 23” onto the nearly 2,000-year-old amphitheater’s walls, calling the defacement “a sign of great incivility.” The tourist’s crime of passion could be costly in a city that’s been cracking down on unruly visitors: He faces a fine of ~$16,400 and up to five years in prison.

Read: What happens when the digital nomads come to your city. (Rest of World)

NEWS

What else is brewing

  • The Supreme Court rejected an obscure legal theory pushed by NC Republicans that could have radically changed how elections are run.
  • A DOJ watchdog group released a new report saying that a “combination of negligence and misconduct” at a NYC jail allowed for Jeffrey Epstein’s suicide in 2019.
  • The CDC issued a health alert for malaria after five locally spread cases were found in Texas and Florida—the first such cases in 20 years.
  • Skims, Kim Kardashian’s underwear brand, will open its first permanent stores next year.
  • Pepsi is releasing its first-ever condiment for the Fourth of July: “Pepsi Colachup.”

RECS

Wednesday to-do list

Mighty Modelo: Learn how Mexican beer conquered the US market.

The museum of the internet: Check out this gallery of old websites.

Thought experiments: 43 prompts that will change your life for the better.

The Grimace Shake is taking over social media. Here are two videos capturing the bizarre Gen Z trend.

Visualize data: Level up your small talk with the No. 1 visual newsletter from our good friends at Chartr. Join 350,000+ others who love snackable charts and insights on business, tech, entertainment, and society. Sign up for free.

Ready, set, grow: Invest in a real estate portfolio where everyone wins. Roots is up 32% since its inception + investments start at $100. Get started in 5 minutes.*

*This is sponsored advertising content.

GAMES

The puzzle section

Word Search: Hope the Italian culture minister doesn’t have a problem with us doing a European flag-themed Word Search. Play it here.

The only state…

Now that New Jersey will be the only state where you can’t pump your own gas, here are some questions about the unique characteristics of other US states.

  1. The only state…whose three largest cities start with the same letter.
  2. The only state…whose name can be typed on just one row of keys.
  3. The only state…whose capital city has a population of more than 1 million.
  4. The only state…that borders six other states and another country.
  5. The only state…that has no letters in common with the name of its capital.
  6. The only state…whose postal abbreviation consists of two vowels.

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AROUND THE BREW

Microsoft plants seeds

How is Big Tech trying to solve the world’s food problems? Tech Brew spoke with Microsoft’s CTO of agri-food to discuss the company’s farming data operations. Check it out.

Take your business knowledge to the next level with our one-week Quarterly Planning sprint kicking off in August. Learn how to focus on what matters and turn your plans into action.

Standing out in a crowd is difficult—especially when you’re a startup. Find out how the right messaging can set you apart.

ANSWER

  1. Ohio (Columbus, Cleveland, and Cincinnati)
  2. Alaska
  3. Arizona (Phoenix)
  4. Idaho
  5. South Dakota (Pierre)
  6. Iowa (IA)
         

Written by Neal Freyman, Cassandra Cassidy, Matty Merritt, and Sam Klebanov

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