Plus: Urban wood’s $786m potential, a milestone for the Mac, play PowerPoint Karaoke, and more.

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The Hustle

England’s Lincolnshire Wildlife Park, where zookeepers have kept eight expletive-spewing parrots isolated from the zoo’s other 92 angelic non-swearing parrots, is putting it all on the line: The troubled birds are being reintroduced to the rest of the flock in hopes that exposure to some non-trash-mouthed role models will help the “really, really offensive” crew clean up their act. It could, of course, go the other way.

In today’s email:

  • Restaurants resurgent: Dining out is officially back in.
  • Rooting interest: A rich industry sprouts from fallen trees.
  • Why, though? The mouse is iconic. The cat, not so much.
  • Around the web: PowerPoint Karaoke, the rise and fall of Air Jordans, a regal capybara, and more.

👇 Listen: A closer look at the restaurant business as its post-covid regrowth begins.

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The Big Idea
A restaurant dining room with four picture frames of smiley faces over four dining tables.

Good things are on the menu for restaurants this year

After a tough few years for the industry, restaurants might finally be catching a break.
2024-01-25T00:00:00Z
Sara Friedman

It’s been a hard four years for the restaurant industry.

When the pandemic hit, restaurants were some of the most impacted businesses. In the US, an estimated 72.7k closed due to covid.

But now, there are signs of regrowth: Yelp listings show that ~53.8k new restaurants opened last year, representing 16.1 new restaurants for every 100k people, per Axios.

Some types of restaurants in particular have been taking off:

  • Desserts (up 66% YoY)
  • Pop-ups (up 66%)
  • Creperies (up 63%)
  • Hot pot (up 53%)

Certain cuisines have also experienced upswings, like African and Peruvian restaurants, which are up 65% and 28%, respectively, compared to 2019.

What’s for dinner?

The restaurants themselves aren’t the only things changing — menu offerings are getting revamped as shops compete in a cutthroat market.

And there are some noticeable trends emerging on today’s menus, per The New York Times:

  • Certain classics reign supreme — like Caesar salads and fried chicken — with some unexpected new items taking off, like caviar, yuzu, and panna cotta.
  • Desserts are becoming more drinkable (hello, espresso martini) and nostalgic.
  • Alcohol-free beverages are still on the rise, with more menus dedicating entire sections to zero-proof drinks.

Plus, menus are increasingly colorful and modern, and include more content highlighting restaurant labor, like info on ingredient sourcing or explanations of service fees.

The restaurant renaissance…

… is not without its hardships. In a 2023 poll by Washington, D.C.’s restaurant association, 75% of establishments reported being less profitable than pre-pandemic.

Then, of course, there are the rising costs of labor and ingredients, with the added hurdle of budget-conscious customers dining out less.

Ending with a bit of good news: You’re not just getting older and going blind — smaller font sizes are actually in vogue, with some restaurants dipping down to 5 points.

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Free Resource

How ChatGPT can help you win at work

ChatGPT isn’t yet an all-in-one cheat code, but it’s growing up pretty darn fast, and we’re stoked for the day when we can strap on our AI goggles and sail into the sunset.

For now, people are saving time at work, and you should, too. The intro to ChatGPT bundle includes five assets to help professionals grapple with generative AI and start asking hella smart questions.

There’s a when-to-use flowchart, a content refinement checklist, and — our all-time AI fave — 100+ ways to use ChatGPT.

Chatbot basics →
TRENDING
eyeball wearing a hat

Break out the birthday candles, the Mac just turned 40. Four decades ago, Steve Jobs announced the first Macintosh computer at a California event. The original version cost $2.49k, which would be ~$7.3k today.

SNIPPETS

Tesla’s earnings report showed net income up, operating profits down, and a lot of uncertainty about its future trajectory. The company warned investors that it’s “between two major growth waves” and to expect “notably” slower growth in 2024.

Toyota’s chairman, never bullish on EV, isn’t about to change his tune now: Akio Toyoda estimates that fully electric cars will never command more than 30% of the auto market. His prediction still has a lot of cushion — last year, ~9% of all US new car purchases were EVs.

Microsoft hit a valuation of $3T on Wednesday, a first for the tech giant, largely due to its partnership with OpenAI.

Netflix reported a 3x increase in engagement with its streaming games last year, largely from releasing “Grand Theft Auto” games. It’s still a small gaming operation overall; October 2023 data showed that less than 1% of Netflix’s 250m+ subscribers were gaming daily.

Burrito boom: Chipotle said it’s adding 19k new employees to its 110k-person workforce ahead of its busy spring season — a ~27% increase from last year’s recruitment goals.

Etsy introduced Gift Mode, an AI feature that generates gift ideas for 200+ different personas. Users can take an online quiz and receive gift guides to help make sense of the 100m+ items listed on the platform.

She’s done it again: Musician and entrepreneur Dolly Parton’s latest brand collab is with Conagra Brands, and will include frozen and refrigerated Southern comfort foods.

Knott’s Berry Farm is just a theme park now, as JM Smucker Co. discontinues sales of Knott’s-branded jams, jellies, preserves, and cookies. The Southern California amusement park is unaffected by the change.

Don't miss this...

Is Google getting worse? Headlines claim a new study proves it is. But that’s… not exactly true. Check out what an SEO expert has to say about it.

WATCH
A tree labeled with the word “This” with an arrow leading to a wooden end table labeled with the words “To this.”

Fallen trees are a multimillion-dollar opportunity

Every year, ~36m trees come down in American cities.

No matter the reason — e.g., storms, disease, pollution, urbanization, vindictive basketball players not liking the idea of things being taller than them — it’s a loss.

But not a total one.

A US Forest Service study found the lumber potential of that urban waste wood could be worth $786m per year. So, how do you make all that green from downed trees?

We’ll take you to Baltimore, the case study for putting urban wood to good use, where one civic facility annually processes 9k+ tons of wood salvaged from public lands alone.

(BTW, that’s enough wood to fill a football field with piles 30 feet high.)

See where it goes →
FIT THE BILL

There are thousands of companies valued at $1B+. How many clues do you need to identify today’s billion-dollar brand?

Clue 1: Wherever you go, you’ll find this company’s tech — or maybe it’ll find you. Its first customer was the US Army, followed by many marine, auto, and aviation clients.

Clue 2: When it acquired a Yarmouth, Maine-based navigation company in 2016, it also took ownership of Eartha, the world’s largest revolving globe.

Clue 3: Most multinational companies have a presence in major global hubs like, say, London, NYC, or Tokyo — but this isn’t your average multinational. Its HQ is in Olathe, Kansas, and it’s legally incorporated in Schaffhausen, Switzerland.

👇 Scroll to the bottom for the answer 👇

Why, Though?
A white cat-shaped device resembling a computer mouse in size.

Why, though? A cat ahead of its time

The CueCat scanned images on print ads and took users to a URL. So, just like a QR code, but too soon.
2024-01-25T00:00:00Z
Juliet Bennett Rylah

Nowadays, we scan QR codes to do all sorts of stuff: read restaurant menus, activate washing machines, open doors, launch audio tours, etc.

In 2000, Digital Convergence’s CueCat — a plastic device that looked like a cat — did something similar. It scanned special bar codes on print ads, called “cues,” then took users to a relevant URL.

Yep, sounds like a QR code. So why didn’t it work?

Digital Convergence made its money via technology licensing deals with media and advertising clients, not from selling CueCats, which it gave away for free.

But over seven months, CueCat had generated less than six swipes per device across 3m devices, according to CNET.

The problems:

  • CueCats had to be wired to computers, and were thus inconvenient for everyone except this woman from a RadioShack ad, who apparently relaxes by browsing magazines in front of her PC.
  • A Wall Street Journal reviewer found it clunky and useless, requiring multiple “swipes” to work.
  • Tech partners failed to provide useful or specific URLs.
  • There were privacy concerns about the possibility that CueCats compiled databases of anyone who’d scanned a specific cue. It didn’t help that a hack revealed ~140k users’ personal data.

By January 2002, CueCat’s nine lives were all but up, costing investors $185m.

At the time…

… software developer Joel Spolsky, who’d received a free CueCat thanks to his Wired magazine subscription, blogged about its impracticality.

He compared it to a similar, and perhaps even sillier, Wired scheme that required taking a photo of an ad with a digital camera, uploading the photo to a computer, and using special software to convert that image to a URL.

It seems like what the tech really needed was a small internet-enabled box with a camera that we carry around all the time — but the iPhone wouldn’t debut until June 2007.

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AROUND THE WEB

📺 On this day: In 1949, the first Emmy Awards ceremony was held at the Hollywood Athletic Club in LA. The name comes from “immy,” a shorthand name for the image orthicon tube once used in TV cameras.

👟 That’s interesting: The history of Air Jordans.

🏆 Congrats: Check out this year’s Modern Sales Leader award winners. Know anyone on the list? If not, get connecting — these 25 leaders are setting a new standard.

🎤 Game: PowerPoint Karaoke, where you give a presentation based on the slides with zero preparation.

😍 Aww: A capybara that looks like it’s holding court.

MEME
meeting meme

Two different people, really. (Link)

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Today’s Fit The Bill answer is Garmin (market cap: $24.11B)

Today's email was brought to you by Juliet Bennett Rylah and Sara Friedman.
Editing by: Ben “Bird is the (F-) word” Berkley.

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