April 11 2023 - My New Recession Indicator

👋Good Morning – It's Tuesday April 11th 2023. No fuss – let's get into the news.

Apple experienced a 40% decline in Mac shipments in the first few months of 2023 compared to the same period last year, according to a recent industry report by IDC. The number of shipments fell from 6.9 million to 4.1 million, and the company's total PC market share also dropped from 8.6% to 7.2% year over year. Other major computer companies like Dell, HP, ASUS, and Lenovo also scaled back their shipments by nearly 25% or more, though Apple's decline was the most significant. The report also suggests that the dip in the supply chain gives companies like Apple room to move some production outside of China.

TikTok invited hundreds of brands to join its shopping service in November, but fewer than 100 of them are using it as of last month. The U.S. version of TikTok Shop is still in testing, but it’s live and available on the app to any users who wants to purchase something, and it has a public landing page for merchants to set up their storefronts. The new efforts have faced a slow start for several reasons, including the lingering threat of a TikTok ban, the platform's restriction on foreign merchants from selling on its shopping platform in the U.S., and some sellers' hesitance to commit to social apps like TikTok.

Discord is at the center of a federal investigation into the leak of highly classified U.S. documents. The leaked documents, consisting of hundreds of images, appeared on Discord in a small group before being reposted to a larger audience. The intelligence leak is considered one of the most damaging in decades, with concerns raised over potential harm to foreign allies' willingness to share sensitive information with the US. Discord is working with law enforcement in the ongoing investigation.

Tonal's founder, Aly Orady, is stepping down as CEO after the at-home fitness company completed its latest funding round at a fraction of its prior valuation. The San Francisco-based company raised $130 million from existing investors, bringing its total funding to $615 million since its founding in 2015. Tonal's valuation in the latest funding round fell to between $550 million and $600 million, down from as much as $1.6 billion in 2021.

Netflix has announced that a new animated spinoff of the popular series, Stranger Things, is in the works. The show’s creators, Matt and Ross Duffer, are developing the series, which is expected to be in the vein of Saturday morning cartoons. Netflix has not yet shared any details about the upcoming series, including the release date. A VR game is set to be released later this year, while a prequel stage show is scheduled to appear in London in late 2023, and a live-action spinoff show was announced last year.

Lofi Girl, the popular YouTube channel known for its calming and meditative music, is currently the subject of a mystery surrounding the whereabouts of its famous patron, Jade. Since 2017, Jade has been a constant presence for fans, but she suddenly disappeared with her ginger tabby around 1 PM ET. Fans have discovered a blinking blue light emitting a Morse code from a window in one of the buildings opposite Jade's home, pointing them to www.lofiworld.com. Team AMW, the marketing agency representing Lofi Girl, has promised a surprise for the channel's immersive experience, set to be revealed on April 11th.

• Johnson & Johnson has initiated a US creative review for its brands Neutrogena and Aveeno, which are currently handled by Omnicom Group's DDB. Both brands are part of the J&J Consumer Healthcare business, which is set to spin off as Kenvue later this year. The loss of these brands would leave Omnicom Group without substantial assignments from J&J's consumer health care business in the US. It is unclear whether DDB will defend the account. Neutrogena and Aveeno spent $121m and $39m respectively on US-measured media last year.
• Slutty Vegan, the vegan restaurant chain, is on the lookout for its first agency of record. The brand, which started with a food truck in 2018 and now operates nine restaurants in three states, has previously worked with the Whittley Agency as needed. The new agency will be tasked with full-service creative, content generation, and social media expertise. Slutty Vegan has also collaborated on vegan sneakers with Steve Madden and sold its signature dips in Target stores
• Donald Glover is launching a creative agency and hiring

• McDonald's has undergone a cultural transformation in recent years, with a focus on creating experiences that focus on younger audiences and reasserting the brand's status as an iconic cultural symbol. Tariq Hassan, the brand's U.S. CMO, has emphasized the importance of making McDonald's a cultural phenomenon that goes beyond just selling fast food. McDonald's has tapped into fan truths and deepened its connection with younger audiences, launching successful campaigns such as "Famous Orders" and "Menu Hacks" that have become part of popular culture.
• Mailchimp has launched Email Content Generator, an AI tool powered by OpenAI's GPT technology that allows users to generate marketing copy that can be dragged and dropped into their emails. The tool is available in beta to US users of Mailchimp's standard and premium plans, who are urged to review the AI-generated copy for accuracy and appropriateness. Users can suggest text based on their industry, the email campaign's purpose and tone, and can request the tool rewrite messages or specify desired emotional tones. Mailchimp CEO Rania Succar calls it "personalization at scale".
• YouTube is introducing an "enhanced" 1080p HD video quality for Premium subscribers on iOS, with the option coming to the web soon. The new option is "an enhanced bitrate version of 1080p" and is intended to make videos look crisper, particularly with those that have lots of detail and motion. Other new features include the ability for users on iOS to watch videos with friends and family members using FaceTime via SharePlay and a Premium queuing feature for phones and tablets. Last year, YouTube reported having around 30 million paid global subscribers across its Premium and Music offerings.
• Snapchat Lenses are now available during Microsoft Teams meetings. The integration of 26 popular lenses aims to add a bit of fun to virtual meetings and foster a more engaging work environment. Microsoft Teams Vice President Nicole Herskowitz stated that the new addition offers customers a new way to express themselves and engage with colleagues dynamically and entertainingly. To access the lenses, users can select the “Snapchat” tab and choose from a collection of lenses such as transforming themselves into a cartoon character or adding fun backgrounds to their videos.
• Domino's Pizza has announced that customers in the US can now place a pickup order using Apple CarPlay. The functionality is limited to preselected or recently placed orders, and customers can use the app on CarPlay to select an order and track its status using the Domino's Tracker. This feature is part of Domino's focus on innovating with technology, and the company also offers other ways to place an order, such as through the Apple Watch or by texting an emoji.
• MullenLowe US CEO Lee Newman is set to depart after eight years, according to Ad Age. Newman was appointed to the role in 2015 shortly after Mullen and Lowe merged into one agency. The move comes five months after Martin Agency’s CEO, Kristen Cavallo, was appointed MullenLowe's global CEO. Newman will remain in his role until May, after which the shop will be led by Kelly Fredrickson, president of MullenLowe Boston and New York, and Javier Passerieu, managing director of MullenLowe Los Angeles
• Estée Lauder Companies has announced its plan to become the "most accessible beauty company on the planet" by creating products that cater to people with disabilities. Chris Aiden, the company's VP of innovation and emerging technologies, revealed the Voice-enabled Makeup Assistant (VMA) at SXSW 2023. Using AI, AR, and machine learning, the VMA will guide visually impaired customers in applying makeup and will give feedback on the products' coverage and symmetry
• DPReview, a well-loved photographic community website, is closing down for good today after almost 25 years, with its content being lost forever. DPReview provided the photo community with insight, advice, reviews, forums, and in-depth technical camera specifications. While the site has been owned by Amazon since 2007, the decision to cease its operation was made by Amazon CEO Andy Jassy, which has been criticized by the site's founder Phil Askey. In a LinkedIn post, Askey expressed his disappointment, saying, "I truly hope that Andy Jassy can see what a waste tearing this team apart and burning all this content will be, and what a huge loss it would be to the photography community and the internet as a whole." The decision has received serious backlash from photographers, many of whom have been using the site since its inception.
• Gary Vaynerchuk has criticized the industry for a lack of belief in the work they produce. He says that too many marketers just say yes to things they don't believe in because that's what their company requires. Vaynerchuk argues that marketers need to hold creative and media accountable for business results, rather than relying on proxies like brand lift studies. He also thinks that brands and agencies need to understand they need to be great at their omnichannel strategy, and that people are not happy in the industry because they don't believe in the work.

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