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TGIF, fam. We’re looking forward to kicking back and watching some TV this weekend. If you weren’t already aware, Sex and the City is now on Netflix, introducing the four legendary friends to a whole new generation of young people. In honor of its Netflix debut, Insider has compiled 23 surprising facts about the iconic comedy series for anyone who wants to expand their SATC knowledge.

In other news… Web3 venture funding bounces back, consumers irrationally love brands like Coca-Cola, and influencers caution against “blackout shopping.”

We hope you enjoy this and all upcoming issues, but we have one request: please share your feedback. If you have any thoughts at all about our new look, format, and direction, please reply to this email. It’ll go straight to us. Do not hold back.

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.WEB3.

Web3 unicorn // Illustration by Kait Cunniff with Muse AI

Web3 startups enjoy increased funding

The Future. Q1 2024 saw the first uptick in Web3 venture backing since Q4 2021 when the thought of a decentralized internet first captured private markets, with new unicorns emerging left and right. As Web3 evolves and shows up more in our lives, it could become more tangible in the eyes of investors, possibly leading to renewed confidence (and even more funding) in the sector.

Who said crypto was stressful?
Web3 saw its funding increase in the first quarter of 2024, reports Crunchbase News.

  • Startups in the crypto and blockchain sectors raised around $1.9 billion in 346 deals in Q1, which is a 58% jump from Q4 2023, when startups in those sectors raised about $1.2 billion in 263 deals.

  • Last week, New York-based Monad Labs, a blockchain compatible with the Ethereum Virtual Machine, snagged a $225 million funding round led by Paradigm in the biggest Web3 funding round of 2024 so far.

This time it’s different... or is it?
The price of Bitcoin is up nearly 60% this year. That win, along with the Bitcoin halving event and approval for ETFs that hold Bitcoin from asset managers like BlackRock and Fidelity, could repair crypto’s reputation and attract new and more venture investment into Web3.

We’ll see what 2024 holds for Web3, and hopefully, not while holding on for dear life.

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Is there a brand that you "irrationally love?" Let us know what it is in the comments.

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58.2% of you voted Yes in yesterday’s poll: Would you go to a listening bar?

“It’s an amazing way to be exposed to new music and genres that aren’t driven by an algorithm.”

.A WORD FROM OUR FRIENDS AT HIGGSFIELD AI.

One selfie, unlimited AI videos

Diffuse is a new AI video app that allows you to create personalized AI-generated videos from scratch (text-to-video) or from a video template — all with just one selfie.

You can:

  • Generate dances, iconic memes, and more with lifelike movements.

  • Create personalized characters from a single reference image.

  • Create original videos by writing out the prompts in Prompt Builder.

Creators love it. They’ve seen a 50% content share rate, and they’re using it on Instagram and TikTok.

Download the app on iOS and Android.

Media, Music, & Entertainment

  • Hipgnosis Songs Fund, home to the music catalogs of nearly 150 artists including Neil Young, Shakira, and Justin Bieber, has agreed to a $1.4 billion sale to Nashville-based music company Concord Chorus. [Read More]

  • A24 is facing backlash for the six posters from its latest movie Civil War that it posted on Instagram, because the company used AI to generate the images. [Read More]

  • The most powerful people in Paris are joining forces to make the Olympic Games a true demonstration of France’s iconic motto: “Liberté, égalité, fraternité.” [Read More]

Fashion & E-Commerce

  • Caitlin Clark, the No. 1 pick in this week’s WNBA draft, is reportedly finalizing an eight-figure endorsement deal with Nike, which will include a signature shoe. [Read More]

  • Anne Wojcicki wants to buy back the DNA-testing company 23andMe she co-founded in 2006 and take it private after three years in public markets saw the company tumble from its peak valuation of $6 billion. [Read More]

  • Meghan Markle is reinventing herself with the launch of a new lifestyle brand, American Riviera Orchard, and the announcement of a new cooking show in the early stages of production at Netflix. [Read More]

Tech, Web3, & AI

  • SAG-AFTRA is encouraging members to ratify an agreement with major record labels, which says that musicians must give their consent before a label uses AI to produce a track with their voices. [Read More]

  • Couples therapy is improving tech co-founders’ personal lives and company cultures, as the biggest issues affecting entrepreneurs are similar to marriage problems. [Read More]

  • Spotify announced that while its premium plans bundling music and audiobooks will reduce songwriter payments, creator earnings are set to increase on the platform. [Read More]

Creator Economy

  • “Blackout shopping” (going out for something specific but getting tempted to impulse-buy other stuff) is one of the worst things we can do if we’re trying to save money. [Read More]

  • The House, in its move to ban TikTok in the US, has issued a revised bill that would extend the ByteDance divestment period to nine months, with the potential for a 90-day extension. [Read More]

  • Meta AI’s Imagine feature, which lets users create images from text in real-time, is rolling out in beta on WhatsApp in the US. [Read More]

.ADVERTISING.

Can’t help falling for Coca-Cola

All a brand needs is “irrational love”

The Future. While every brand tries to establish an emotional connection with its clientele, few garner “irrational love,” a term coined by independent advertising firm Innocean USA. Irrationally loved brands don’t just share a special bond with their fans — they’re trusted without question, allowing them to command higher prices. If brands want to reach that level of success, they may try to focus on being irrationally loved rather than innovating for that success.

Irrationally in love
Brand-tracking and measurement firm BERA developed a research tool that calculates a company’s “brand love” score based on four key factors in the advertising world: “strong familiarity, high regard, being personally meaningful, and competitively unique.”

  • Coca-Cola, Target, and Tide are three irrationally loved brands that have won public favor by creating advertising narratives around their customers’ unmet needs and evolving those narratives over time.

  • For example, Coca-Cola has always focused on inclusive experiences that make life better, Target has always prioritized the affordability of beautifully designed goods, and Tide has always tackled stain removal.

“From core to more”
By understanding what drives brand affinity and customer loyalty, brands can garner irrational love from their fan bases and weather any storm.

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TFP is heading into the weekend like…

LATEST PODCAST EPISODE

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Today’s email was written by Kait Cunniff.
Edited by Boye Akolade.
Published by Darline Salazar.

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