Plus: Musk vs. Altman, deodorant sales are bouncing back (thank goodness), a chat on greenwash marketing, and more.

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The Hustle

A gorgeous 135-acre ranch in the heart of California’s Central Coast wine country just went on the market for a cool $15m. But anyone thinking about putting in an offer should make sure to double check the sale price doesn’t spike up to $40m after a cavalcade of service and processing fees are tacked on — the seller is longtime Ticketmaster CEO Terry Barnes, after all.

In today’s email:

  • Party time: Why were all the billionaires in India this weekend?
  • UFC and WWE: The new combo is packing a business punch.
  • Digits: Bougie baby pics, a return to hygiene, a burger record, and more newsy numbers.
  • Around the web: The funniest units of measurements, the horrors of Mt. Everest, and more.

👇 Listen: More on OpenAI debuting Sora and Google Gemini missing the mark.

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The Big Idea
White private jets and glasses of champagne scattered on an orange background.

One of India’s most epic parties went down over the weekend

India’s party of the year — or decade.
2024-03-04T00:00:00Z
Sara Friedman

If you thought your wedding was pretty nice and want to feel so, so wrong about that — keep reading.

Anant Ambani — the son of Reliance Industries chairman and managing director Mukesh Ambani — is marrying Radhika Merchant, daughter of Viren Merchant, CEO of Encore Healthcare Private Limited.

You know what all of those job titles mean? A ton of money.

Ambani is a member of Asia’s richest family as one of the heirs to his father’s ~$116B fortune (he’s #11 on Bloomberg’s Billionaires Index).

While Ambani and Merchant will officially wed in July, they kicked things off over the weekend with a casual little pre-wedding party in Gujarat, India:

  • The 1.2k-person guest list included familiar names like Bill Gates, Mark Zuckerberg, Hilary Clinton, and Ivanka Trump. Oh, and a performance by Rihanna.
  • There were so many private jets landing at the local airport that Indian government officials had to set up a special passport-control center to keep up.
  • There was a nine-page dress code detailing how guests should show up for the affair. (Zuck rocked a golden dragonfly suit.)

And the weekend itinerary kept attendees busy with activities such as visiting the Ambani family animal rescue, nature walks to see elephants and reptiles, and, of course, a lot of really extravagant evening partying.

For richer or richer

Remember — this wasn’t the wedding. But something tells us we should buckle up for what the main event in July brings.

For reference: Ambani’s sister’s wedding in 2018, which featured a performance by Beyoncé, was estimated to have cost ~$100m.

Obviously, all of this begs one important question: did our invites get lost in the mail?

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We also do it for subject lines, CTAs, section placement, and other key features worth a switch-flip. If you consider yourself a scaling content operation, it’s smart to do the same.

Get started with this Introduction to A/B testing, which has a step-by-step ebook, statistical significance calculator, and crispy-clean content-tracking template.

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TRENDING
eyeball wearing a hat

Elon Musk sued Sam Altman, accusing him of violating OpenAI’s founding agreement, which prioritized AI development for “the benefit of humanity” rather than the pursuit of profit. This suit could be a messy one. Altman’s cozy multibillion-dollar agreement with Microsoft may be probed and Musk isn’t one to hold back — though he’s also not an angel here either: Elon’s own AI company, X.ai, is a for-profit entity.

SNIPPETS

Your daily dose of anxiety: The US national debt is settling into a staggering new pattern: increasing by ~$1T every 100 days.

Vision no: Apple analyst Ming-Chi Kuo found that of the 1% of Apple Vision Pro customers who return the device, 20-30% do so because they can’t figure out how to set it up.

Meta will delete all Oculus accounts on March 29. Any users who haven’t switched to Meta accounts will lose their apps and purchases. Meta acquired Oculus in 2014, back when it was still called Facebook.

Waymo is bringing its robotaxis to Los Angeles, in addition to its operations in San Francisco. Waymo said its approach to LA will be “incremental” and involve working closely with officials and locals.

NASA canceled a $2B satellite refueling project due to “poor performance” from lead contractor Maxar. The project’s goal was docking with aging satellites and restoring them for greater longevity.

Early birds catch the worm: Dune: Part Two opened with an expectations-shattering $81.5m weekend in the US (it added another $97m internationally). Its opening weekend doubled the first film’s pandemic-dented $40m debut.

Tickets to watch college basketball superstar Caitlin Clark play her last regular season home game for the Iowa Hawkeyes — which averaged ~$571 per seat — were the most expensive ever for a women’s game, more than 12x above the NCAA average.

If you’re hoarding any Chick-fil-A sauce cups in your car console, better double check. The fast food brand is telling customers to chuck old Polynesian sauce over allergy concerns.

Don't miss this...

Something called "career cushioning" is trending. Good for it! Now, what the hell does it even mean? We got you.

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TKO revenue
Olivia Heller

People beating the ever-living hell out of other people remains a great business

The first full quarter from WWE and UFC’s new corporate parent was a knockout.
2024-03-04T00:00:00Z
Ben Berkley

The kids who stood around your playground chanting “fight, fight, fight” at any hint of a tussle grew up and have money now.

Or at least they did. Record spending from the ever-ravenous fan bases of UFC and WWE have TKO Group Holdings, the new combined corporate home for the two combative giants, off to a strong start.

  • TKO cleaned up in its first full quarter since its September formation, with $614m in quarterly revenue — $331.2m from WWE, $282.8m from UFC.

Where did it all come from?

Both wings of TKO surely know how to sell merch, activate sponsors, and critically, put people in seats (WWE also happens to know how to put seats in people).

  • UFC increased live event revenue by $42.6m in 2023.
  • WWE’s live attendance was up 34% last year.

But TKO’s biggest money maker remains TV rights — media fees make up 64% of WWE revenue; 59% for UFC. And that was before WWE inked its $5B Netflix deal in January.

It’s awfully hard to gather a lot of eyeballs at once in 2024. Though TKO’s ratings don’t reach the heights of the NFL powerhouse, its fans consistently tune in en masse.

  • WWE’s “Raw” is cable’s top-rated show, averaging 1.7m viewers so far this year.
  • UFC largely employs a pay-per-view model, but its numbers remain impressive: over its history, 77 different bouts have garnered 500k+ buyers.

What’s next?

Fresh off adding Dwayne “The Rock” Johnson (and his 398M Instagram followers) to its board of directors, TKO is planning to expand its international footprint.

  • Its 10-year deal with Netflix notably gives the streamer rights to broadcast WWE content outside the US starting in 2025.

One caveat: TKO’s got momentum but the company’s not doing everything it can to maintain it — to our knowledge, it has not yet employed this dog.

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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: This retailer was founded in the Chicago suburbs by two middle-age men back in 1990, but today it says 92% of its associates identify as women.

Clue 2: Set up a store-inside-a-store partnership in 2022, prettying up a corner of select Target stores to sell its wares. The goal is to ultimately be found in 800+ Target locations.

Clue 3: Owners of registered trademarks for “All Things Beauty, All in One Place” and “The Possibilities are Beautiful,” which has really gotta piss Sephora off.

👇 Scroll to the bottom for the answer 👇

By the Numbers
A pig standing in front of a pile of coins, a woman putting on deodorant, a baby, and several burgers against a blue background.

Digits: Good hygiene, epic baby pics, so many Big Macs, and more

The world record for Big Macs consumed in a lifetime, a sinister scam, and more wild numbrs.
2024-03-04T00:00:00Z
Juliet Bennett Rylah

$2k-$11k: What parents have paid to have Erika Clark take their infant’s photo. The California photographer offers packages that include costumes and personalized sets. Like what? Well, for a “Game of Thrones” shoot, Clark’s team fashioned modeling clay into 200 miniature swords to recreate the Iron Throne. The photos depict the client, who will remember none of this, sleeping peacefully upon it next to two dragon eggs.

8%: Q3 growth that Unilever saw in its personal care segment, 3.9% of which was thanks to deodorant sales. CFO Graeme Pitkethly’s reason for the bump: People ditched things like deodorant during pandemic lockdowns, but have returned to smelling fresh now that they’re leaving the house.

34k+: Big Macs eaten by Don Gorske, a 70-year-old Wisconsinite who holds the Guinness World Record for most Big Macs eaten in a lifetime. Gorske has saved every McDonald’s receipt and burger container since his unusual culinary hobby kicked off in May 1972. Though he once ate up to nine Big Macs per day during his peak years, Gorske has since cut back to two. He also skips the fries and goes on a daily six-mile walk.

$75B+: How much fraudsters made from pig butchering scams between January 2020 and February 2024, according to a new study that looked at crypto addresses from 4k+ fraud victims. A pig butchering scam is when a scammer tricks someone into making a bogus investment. Its morbid name comes from the practice of intentionally fattening up hogs prior to slaughter.

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AROUND THE WEB

🗞️ On this day: In 1974, People magazine debuted its first issue, featuring actress Mia Farrow on the cover.

⛰️ That’s interesting: The many dangers of Mt. Everest.

🎧 Another Bite: Jorie, Ariel, and Jon break down sustainable manufacturing vs. greenwash marketing and product defensibility.

📏 Haha: A list of humorous measurements.

🐐 Aww: Weighing your goat.

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leap day meetings meme

Just four more years until your next productive Zoom. (Link)

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Today’s Fit the Bill answer is Ulta Beauty (market cap: $26.65B)

Today's email was brought to you by Juliet Bennett Rylah and Sara Friedman.
Editing by: Ben “Starting a petition to add Don Gorske to Mt. Rushmore” Berkley.

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