Plus: Airline complaints are up, an epic Canadian neighbor feud, a look ahead at Google’s Gemini AI, and more.
Bhutan’s king announced yesterday that his government would advance its plans to build a megacity in the mold of Dubai and Shenzhen. If realized, the “mindfulness city” would showcase green architecture and become an urban tech hub, but not for all sectors — as Bhutan’s national religion, Buddhism, prohibits killing, the city would ban industries like weapons manufacturing.
In today’s email:
Coffee: More people are opting for at-home espresso.
Digits: A secret compound, airline woes, and more numbers.
Around the web: The impact of Gemini AI, so many cookie recipes, a bear takes on Christmas, and more.
👇 Listen: Becoming a professional Santa isn’t the best financial decision.
The Big Idea
A latte to think about: Coffee is coming home in 2024
The biggest trend in going out for coffee is not going out at all.
2023-12-18T00:00:00Z
Sara Friedman
Apparently that old personal finance advice about making your coffee at home finally stuck, because the newest trend in caffeine starts in your kitchen.
But it’s not just about penny pinching amid rising coffee prices — the pandemic had a lot to do with it:
Around 30% of remote workers have bought a new coffee machine since the start of the pandemic.
In 2022, the National Coffee Association’s Data Trends report found that 84% of coffee drinkers had coffee at home daily, up 4% compared to 2020.
Espresso consumption has risen 30% since the pandemic — a signal that more people have machines at home.
And brands like Keurig and Nespresso have seen growth in North America over the last year. Keurig says it expanded to 38m+ US households in 2022.
But it’s not your average coffee…
… Consumers want premium, specialized experiences while at home.
This means recreating the coffeehouse aesthetic; Pinterest predicts that “cafe core” will be a 2024 trend across age groups. The app saw a 1.12k% increase in searches for “Coffee bar styling” and a 145% spike in “Coffee station decor” between 2021 and 2023.
To make their fancy-pants coffees, per Mintel, consumers will prioritize complementary products (e.g., flavored syrups or creamers) and high-end appliances like those from Fellow, which raised $30m in funding last year.
And, per usual…
… Gen Z is leading the charge on social media.
An estimated 49% of Gen Z consumers learn about coffee on TikTok, where the hashtag #coffee has 71.4B+ views and #coffeestationidea has 62.4m+ with users showing off carefully curated home coffee station setups.
The more influencers share coffee recipes and tools online, the less consumers will need to run to Starbucks for their iced brown sugar shaken espressos. (The chain lost 9.4% of its market value this month, a loss of ~$12B.)
Now, if we could just kick that Starbucks cake pop habit, we could finally buy that house.
Free Resource
DIY topic of the day: Data analytics
Many secondary skills look smashing on LinkedIn, but decoding data has to be one of the best. It helps you fortify key points for projects, presentations, proposals, and very timely tweets.
You don’t have to love your neighbors, but two Ottawa households offer a good reminder why it’s best to keep disdain in check. A neighborly feud finally reached a fragile peace — after eight years, 12 official complaints, two police investigations, one criminal mischief charge, one defamation suit, and a judge awarding one side $25k in damages.
SNIPPETS
Citigroup is allowing most of its 240k employees to work remotely for the rest of the year. The offer is nice, but boosting morale may require more — the nation’s third-largest bank is expected to announce an ominous, sweeping reorg in the spring.
Gas relief: The average price of gasoline in the US hit its lowest level since June 2021, dropping to $3.04 per gallon. Thirty states are already living a blessed life under the $3 mark.
Blue Origin is back — or so it hopes. Jeff Bezos’ space company will return from over a yearlong pause today, launching its first rocket since a 2022 cargo mission failed during takeoff.
True Anomaly, a space security startup, added $100m in funding to its previous $30m haul. The company supplies hardware and software for the likes of the US Space Force and, without proper government clearance, we’re not getting more detail than that.
Breakfast duo: Yogurt brand Chobani will buy La Colombe for $900m. Keurig Dr Pepper will exchange its 33% stake in the coffee roaster for Chobani equity.
A new report on shrinkflation — i.e., when we pay more but get less — found the most-impacted items are paper products, like toilet paper and paper towels. Also high on the list: candy, snacks, cleaning products, and coffee.
Costco, which started selling gold bars for ~$2k in September, reportedly sold $100m+ worth of the one-ounce, 24-karat bars last quarter. Members still face a two-per-person policy.
Twitchnixed its “artistic nudity” policy just days after it was announced. The policy allowed streamers to show illustrated or sculpted renderings of private bits, but all forms of nudity are banned once again.
The candy man can: Wonkawon the weekend box office with a $39m domestic debut. (Please notice the restraint on us not saying the movie’s got a “golden ticket.” It wasn’t easy.)
Don't miss this...
Secret growth strategies and insider tips from today’s biggest creators, all wrapped up in one nifty playlist? You are very welcome and also you can click right here to dive into 2023’s best creator tips, featuring Samir Chaudry, Jay Clouse, Dream, and more.
By the Numbers
Digits: A novel queen, a secret bunker, airline hassles, and more
Zuck’s secret hideout, Colleen Hoover’s book reign, the bots are coming, and more weird numbers.
2023-12-18T00:00:00Z
Juliet Bennett Rylah
26k+: The number of complaints customers filed against US airlines in the first five months of 2023, up 100%+ YoY. Airlines and air traffic control centers continue to face staffing shortages, an issue that arose amid the pandemic. For those of you traveling for the holidays, good luck.
$270m+: The estimated cost of Mark Zuckerberg’s Hawaii compound. Despite strict NDAs binding those working on it, Wired sussed out that the ~1.4k-acre “techno-Xanadu” contains 12+ buildings with 30 bedrooms, 30 bathrooms, offices, conference rooms, an industrial-sized kitchen, a gym, spa, and tennis court, plus several tree houses and, most importantly, a 5k-square-foot underground bunker.
28: The number of books (out of ~300k titles) that sold 500k+ copies in the US in 2022. Notably, eight of those books were by romance/YA author Colleen Hoover, whose novel It Ends with Us sold 2.7m+ copies.
19%: The percentage of Americans who think AI will have a major impact on their job over the next 20 years, per Pew Research Center. But when it comes to careers in journalism, graphic design, and software engineering, over half of respondents thought AI would have a major impact. Gulp.
AROUND THE WEB
🏈 On this day: In 1932, the Chicago Bears beat the Portsmouth Spartans 9-0 in the first NFL playoff game. It was also the league’s first indoor game, held at the Chicago Stadium on a field 40 yards shorter than regulation.
👀 Video: Kieran and Kipp of Marketing Against the Graindiscuss the impact of Google’s Gemini AI on the future of search.
Today's email was brought to you by Juliet Bennett Rylah and Sara Friedman. Editing by: Ben “Drinks his coffee black — with 18 packets of sugar” Berkley.