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The 1 billion download club... Big number, tiny membership. TikTok just got there faster than any company — just 2 years (that makes the 8 years Instagram needed look like a crawl). If you've never TikTok'd (we haven't either) here's what you should know:
TikTok's also a threat to Zuck... User-wise, TikTok is shockingly as big as Facebook's Instagram. The last company that threatened Insta's user growth was Snapchat — so Facebook copied its core feature with "Stories." It's doing it again with TikTok, yesterday unveiling "Reels:" 15-second music-videos users make of themselves, then pop into their story. It starts in Brazil, but is expected to rollout worldwide.
American companies knockoff Chinese innovation, too... Facebook might as well have called this "DikDok" -- it's a straight-up copy of TikTok's core feature, a defensive move to prevent users from leaving Zuck's apps. It's usually the other way around, but this Chinese-invented social media platform is getting duplicated by America's king of social media.
Best before 11/12/2019... Milk legend Dean Foods lost its CFO and CEO in the last 6 months. The stock's fallen from $22 in 2016 to just 80 cents. And yesterday it filed for bankruptcy because it can't afford to pay worker pension plans. Depending on a judge's decision, Dean could reemerge from bankruptcy and keep operating. But it's got larger lactose-induced problems.
Got customers?... Barely. Dean's 58 manufacturing facilities and utter-full employees pump out the dairy for Friendly's ice cream, TruMoo chocolate milk, and other local cartons. But non-dairy has hit America's biggest milk company hard, dropping Dean's sales by 38% over the last decade.
Don't just blame Millennials... (can't condemn us for everything). While every headline covers how oatmilk latte love slurped up Dean Foods' sales, the company also recently lost a major customer: Walmart. Last year, Walmart started processing its own milk instead of relying on Dean's brands. That's a huge loss for Dean that gets less attention than plant-based-palooza.
11.11... Look at those 4 single numbers. They represent November 11th and casually embody China's extravagant annual spending bonanza holiday. "Singles Day" reminds us of treat yo' self day from Parks and Rec, except China's biggest ecommerce company, Alibaba, is intimately involved.
It's a trade-war-free celebration of Chinese economic might... Alibaba includes American brands like Nike, Estée Lauder, and even Kim Kardashian's KKW Beauty on the shop-fest. But an Alibaba exec's quote about Singles Day shows its symbolism for China:
Stock prices move when unexpected things happen... Monday morning, Alibaba's stock was down despite news of the insane sales numbers (on Tuesday, it was still down from Friday's close). It's because investors expected Alibaba to set a record Singles Day.
Disclosure: Authors of this snacks own stock of Tesla, Alibaba, Amazon, and options of SmileDirectClub
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