The Profile: The Spanx billionaire’s new invention & the DNA testing company running out of options
The Profile: The Spanx billionaire’s new invention & the DNA testing company running out of optionsThis edition of The Profile features Sara Blakely, Maria Bakalova, and others.Good morning, friends! Have you ever heard of the “gravedigger theory of journalism?” It’s a storytelling form pioneered by columnist Jimmy Breslin, who was obsessed with telling the story from the perspective of an unexpected participant or “minor” subject. Most news organizations do a good job of covering the obvious news (murders, car accidents, elections) from the obvious angles (the perpetrators, the victims, the political candidates). But the stories that stand out in the noisy news environment are those told from an unlikely subject’s perspective. The “gravedigger theory” originated from Breslin’s column on the assassination of John F. Kennedy on Nov. 22, 1968. Kennedy’s coffin was brought to the Capitol Rotunda, and approximately 250,000 people filed past the coffin to pay their respects. This scene became the focal point of news coverage as journalists reported on the people who came to pay their respects. While this was happening, Breslin, alone, went to Arlington National Cemetery where he found an old man tasked with digging the president’s grave. He began talking with him, and that turned into the iconic “gravedigger” column, “It’s an Honor.” Here is an excerpt:
In the middle of the column, Breslin describes what Kennedy’s widow, children, and vice president-turned-president Lyndon B. Johnson were doing during the funeral. Those were the people whose perspectives dominated the mainstream news coverage. But at the end, Breslin brought it right back to his main subject: Kennedy’s gravedigger.
As I always say, the most extraordinary stories hide in the most ordinary-seeming individuals. If you’re interested in learning more about Breslin, a new book detailing his life just published, titled: Jimmy Breslin: The Man Who Told the Truth. — PROFILES.— The Spanx billionaire’s new invention PEOPLE TO KNOW.The Spanx billionaire’s new invention: Since founding Spanx in 2000, Sara Blakely has become one of America’s most prominent and admired entrepreneurs. When she sold a majority stake of her shape-wear company to Blackstone in 2021 in a deal that valued the company at $1.2 billion, her shiny personal brand only grew. So when Blakely announced this year that she was finally unveiling what she called her “life-changing” next innovation, a product a decade in the making, she had the world’s attention. Her follow-up to Spanx, a garment which is in the MoMa design collection and has spawned countless imitators? Sneex, a 600-dollar, hybrid stiletto-sneaker with a velcro strap. People are calling it ‘ugly’ and ‘the Bermuda Triangle of shoes.’ Has Blakely lost the plot? (WSJ; alternate link) “To me, I take it as a sign that I’m doing something disruptive and novel, and people have a lot of emotion around it. That doesn’t bother me one bit.” The Bulgarian actress portraying Ivana Trump: Maria Bakalova is the actress portraying Ivana Trump in the new film, The Apprentice. Bakalova, a fellow Bulgarian, got an Oscar nomination for her joyful, feral, improvised performance in 2020’s “Borat Subsequent Moviefilm.” Embodying Ivana wasn’t just about putting on an accent, which is different from the one Bakalova still has, but about knowing what it’s like to be an immigrant, one not born in privilege, who came from a communist or post-communist country, and the kind of bar you have to set for yourself never to fail. (Washington Post; alternate link) “I honestly believe that art should provoke people. That’s why we have it.” COMPANIES TO WATCH.Teens’ favorite hangout spot: With its Instagrammable drinks and a comfortable place to hang, Starbucks has become a hot spot for teens. Selling cold, sugary beverages to middle and high schoolers wasn’t exactly the original vision when Howard Schultz opened his first coffeehouse, Il Giornale, in 1985. But he eventually discovered that catering to the tastes of the American masses would require veering further and further away from that quaint concept. While the vast majority of customers today are adults, Starbucks also sells a whole lot of sugar and caffeine to tweens and teens. What was begun reluctantly has evolved into a concerted effort to court young people that permeates product development and marketing in a strategic effort to create lifelong customers. (Bloomberg; alternate link) “Starbucks does take all our money, but we can’t stop.” The DNA testing company running out of options: 23andMe is in trouble. Once a hot Silicon Valley startup, the genetic testing company has been in free fall since a major data breach last year that affected roughly half of its customers. The incident led to a class action lawsuit, which the company has agreed to settle for $30 million. Valued at $6 billion when it went public in 2021, 23andMe’s stock has plummeted from $10 a share three years ago. The company has yet to turn a profit in the 18 years since its founding. Now, it faces an uncertain future as it struggles to make money and remain relevant. (WIRED; alternate link) “If you want to build an enduring business, you need to provide an ongoing source of value.” The audio company that re-invented itself: Audio company Bose just turned 60 years old. After late founder Amar Bose donated majority ownership to MIT in 2011—a little-known fact—it became higher-ed’s most valuable audio brand, and broadened its focus. Gone are the days of wired speakers, or a few paltry headphone options to pair with your stylish Bose Wave CD radio. In the past four years with CEO Lila Snyder—a former 15-year McKinsey consultant who is herself an MIT graduate with a master’s in mechanical engineering—Bose has seemingly righted a ship that appeared to be banking toward shore. Here’s how. (WIRED; alternate link) “I grew up with Bose as an aspirational brand, and an iconic one.” ✨ The rest of this newsletter is only available for premium members of The Profile, whose support makes this work possible. If you’re not already a premium member, consider upgrading your subscription below for access to an additional section of weekly audio + video recommendations. ✨... Continue reading this post for free in the Substack app |
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