Bankruptcy is just about the worst-case scenario for any business, and 2023 is seeing a particularly high number of chapter 11 filings. But life after bankruptcy can be delicious, as Twinkie- and HoHos-maker Hostess just proved.

Hostess declared bankruptcy in 2004 and 2012, even temporarily discontinuing the Twinkie — much to the internet’s outrage. However, a supply-chain turnaround plan sent its valuation soaring from a low of $410 million to $5.6 billion, which is how much J.M. Smucker just paid for the dessert brand, reportedly beating out PepsiCo and General Mills.

(Even better news for Hostess? A Lancet study found that low-carb diets might shorten lifespan, so perhaps they can market Twinkies as a health food.)

Gonzo Capitalism: A side hustle guide for the new economy

Anime: How Japan’s No. 1 film succeeded with no marketing

Office Manager Confession: A slippery expense report

(Source: Little, Brown Spark)

Approximately 4 in 10 Americans have a side hustle to pay the bills, according to separate recent studies by LendingTree and Bankrate. With the cost of living on a near-constant upswing, many day jobs simply don’t cut it anymore. The good news is that online entrepreneurship is open to anyone with enough creativity and digital marketing savvy.

That’s why New York Times bestselling personal-finance author Chris Guillebeau (known for The $100 Startup) wrote his latest book, Gonzo Capitalism: How to Make Money in an Economy That Hates You. With a nonconformist attitude, Guillebeau walks readers through a brave new world where income-supplementing gigs include competitive video-game playing, designing AI art prompts, and even helping new parents name their babies.

Guillebeau spoke with b. about the road rules of this new economy.

b.: What are the primary reasons capitalism went “gonzo”?

Guillebeau: A few conditions came together all at once — ubiquitous e-commerce, mobile-first web design, social and political disruption worldwide — and then a global pandemic came along, accompanied by $5 trillion in stimulus money that was essentially just printed on demand. Oh, and let’s not forget how social media companies have changed how everyone decides what is popular and therefore desirable. That’s a start. 

b.: What do you feel are the greatest entrepreneurial opportunities in the coming decade? Which do you think are destined to fade away? 

Guillebeau: I’m not really a futurist, but overall I think it’s clear that AI is not a trend that’s going to fade away. I also think the concept of direct investment, where people can get funded for their business ideas without going through as many gatekeepers, will continue to gain traction. 

b.: If you're running a traditional business model, are there strategies you can pull from the new rules?

Guillebeau: Absolutely! First, it’s important to point out that there are indeed timeless principles of business that will always be relevant: Supply and demand, for example, or the idea of providing solutions to problems…

That said, yes, it’s important to adapt. Those who adapt will be those who thrive. … This doesn’t mean that every business should be on TikTok, though. Sometimes it’s better to observe what’s happening, be open to new ideas, but remain committed to your core strengths. 

b.: Is gonzo capitalism a "good" thing? Should we accept it for what it is or regulate aspects of it?

Was the Industrial Revolution a “good” thing? Ultimately, yes, but it wasn’t good for everyone at the time. In some ways, I’m afraid of AI, along with everyone else. But I also know that there are winners and losers in every historic change. The important thing is to remain adaptable, to pay attention, and of course, to help as many other people along the way as possible.

(Studio Ghibli)

The anime film The Boy and the Heron had no trailer. No commercials. No cast promos. Not so much as a plot summary. Nothing, except for a single poster. Speaking bluntly to The Hollywood Reporter, lead producer Toshio Suzuki said, “This time we were like, ‘Eh, we don’t need to do that.’”

Nevertheless, the movie topped Japan’s box office with over 5 million tickets sold. (Meanwhile, Hollywood tentpoles are racking up $150 million marketing spends — and still occasionally flopping.) How did it accomplish this?

Through name recognition alone. Eighty-two-year-old director Hayao Miyazaki, who helmed the acclaimed features Spirited Away and Princess Mononoke (and runs beloved animation company Studio Ghibli), announced that The Boy and the Heron would be his final film. This was the entire marketing campaign.

Miyazaki’s legendary status in Japan, built over decades, was all it took to attract droves of curious moviegoers (and positive word-of-mouth spread from there). In art and in business, there’s no better marketing than a consistently good reputation.

The Boy and the Heron will open in the U.S. this December.

Looking to the movies for more business lessons? See what you can learn from the latest installment in the Predator franchise.

“An expense report once came in with an entry: ‘Urgent machinery lubricant - $10.’ On probing, it turned out to be an expensive olive oil someone had bought for their salad, thinking it would be a witty way to get it approved. We all had a good laugh and, of course, declined the expense!”

—Olivia Lin, Tabrick

What are the funny, surprising, or just plain weird stories from your office? Spill the tea at b.newsletter@gmail.com.

(Source: X)

Written by Ali Saleh and Dan Ketchum.

Unsubscribe | Privacy Policy | CCPA