When the CBD kombucha LLC gets approved [10'000 Hours via GettyImages]
Some fun trivia as you fire up the BBQ: 245 years ago today, the USA declared independence from the British. But we're celebrating on Sunday because the Declaration of Independence was officially approved on the 4th.
Stocks jumped to records again yesterday as jobless claims hit a new pandemic low. Meanwhile, the US won support from 130 countries in pushing for a global minimum corporate tax rate.
BTW: The stock market is closed on Monday for (extended) Fourth of July, so we'll be back in your inbox on Tuesday 😉
"Say So," the full version... Well, almost. TikTok is rolling out three-minute videos for everyone, a boost from the current one-minute limit. That means you could learn the full lyrics of viral songs, instead of half a chorus. It also means that the nature of TikTok — and its bite-sized content — could change.
While vids get longer... the wallet is getting fatter. TikTok's Chinese owner ByteDance saw sales more than double last year to $34B, according to WSJ — nearly 14X Snap's annual revenue.
ByteDance has the "two worlds" advantage... That could be its biggest competitive edge. Nearly one in four people on Earth use a ByteDance app — that puts it on par with Facebook and YouTube, and far past Snap and Twitter. Meanwhile: Facebook, YouTube, Snap, and Twitter are all banned in China. Because these platforms aren't censored by China, they're closed off from the world's most populous country, limiting their growth. With TikTok and Douyin, ByteDance has the best of both worlds.
Legally Zoomed... to the public market. When you need legal help, you either a) do hours of Googling, or b) beg your friend to FaceTime with their lawyer mom — anything to avoid paying $500/hour. LegalZoom tries to fix that by offering legal services online. Think: DIY legal documents and e-consultations. You fill out some questions, and LZ whips up completed legal docs. On Wednesday, the 20-year-old company whipped up an IPO:
"Call my e-lawyer... I need to LLC my CBD kombucha startup." 2020 was the best year on record for new business creation, and applications for new businesses have continued to soar this year. LegalZoom reaped the benefits of all those business apps:
LZ is a piggyback stock... to the Creator Economy. In September, WSJ reported that Americans were starting businesses at the fastest rate since 2007. And it's not just brick-and-mortar stores. During the pandemic, Americans created new businesses from Etsy shops, online fitness services, apps, and podcasts. And those creators needed legal docs to seal the deal.
Authors of this Snacks own shares of: Snap