Together with
Dystopian kicks. ICYMI, there’s a video circulating on Reddit of Mike Judge (Silicon Valley, Office Space) explaining why everyone in his 2006 film, Idiocracy, is wearing Crocs. Apparently, the costume designer had a limited budget and thought the shoes looked too futuristic, yet stupid, ever to become popular. While we’re not sure what that says about modern society, it’s probably not too good. Happy Cinco de Mayo!
In other news… Content creators help pinch pennies, TV advertising continues to fall, and banks have trust issues.
Top Trends
YouTube → Moana
Twitter → Kelis
Google → Jenny Craig
Reddit → Snoop Dogg
TikTok → “Mask Off - Remix” - Lyph3r & doukxn
Spotify → “The Feels” - Labrinth
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MEDIA
Money-saving content wins in the current economy
The Future. As the rising cost of living weakens consumer spending power in the US and UK, people are turning to influencers to help them discover cheaper products and services online. If brands want to maintain consumer trust and loyalty in a down economy, they can harness these reviews to inform their advertising.
Human vs. brand-first
Influencers are the most impactful when they serve their communities before they serve any brands they want to work with — or even themselves.
Of 2,000 adults surveyed in the US and UK, 45% report looking for more budget-friendly content since the cost of living escalated, with 59% saying influencers have helped them find cheaper options.
43% go to Facebook for money-saving content, while 31% check out Instagram and 28% prefer TikTok.
New materialism
At its best, the creator economy delivers instant and (often) free access to content that improves the lives of social media users.
As old beliefs about “value” are shifting, creators are taking notice — and adapting their messaging to resonate with deal-conscious consumers.
TOGETHER WITH HERS
Let’s talk about mental health
It’s mental health awareness month. And we’ve just got to say: we’re glad that’s a thing. Prioritizing your mental health is so important, and we’re here for anything that makes that process easier.
Meet hims & hers! They’re making getting access to medication for anxiety & depression a stress-free process. (And that makes a lot of sense to us!)
Here’s how it works:
You’ll fill out an online assessment from the comfort of your home (aka your cozy couch)
A licensed healthcare provider will review your info and can recommend treatment if appropriate
You’ll have access to automatic refills & unlimited check-ins with a care team
Pretty much sounds like mental healthcare, as it should be. Plus, no insurance is needed and there’s free shipping if prescribed. Oh, and did we mention that you’ll get treatment plan recommendations in 24 to 48 hours? Well, it’s true. Right now, you can get your first month of treatment for only $25; then, it’s just $49 per month with a three-month subscription!
*Subscription required. $49/month for a three-month subscription ($123 for first order, $147 billed quarterly thereafter). Subscription automatically renews unless you cancel at least 7 days before renewal is processed. Prescription products require an online consultation with a healthcare provider who will determine if a prescription is appropriate. Restrictions apply. See website for full details and important safety information. Controlled substances, including amphetamines (such as Adderall) or benzodiazepines (such as Xanax and Valium) are not available through the platform.
BUSINESS
Illustration by Kate Walker
What if TV advertising takes a page out of the influencer playbook?
The Future. While the global linear TV ad spend is projected to reach $196 billion in 2023, its ROI is underwhelming, even for household-name brands. If companies want to leverage TV audiences to grow sales, they might borrow a tactic from the creator economy and insert affiliate codes into their TV campaigns.
An outdated model
Because media consumption habits gravitate toward streaming, people are more inclined to tune out ads when watching cable TV.
Two-thirds of brands fail to see any meaningful impact on their TV ad spending.
The median TV advertising elasticity is 0.1% — in other words, companies have to double their ad spend to increase sales by 1%.
A potential fix
Unlike linear TV campaigns, digital ads provide information about who clicks through and who converts. Marketers need this engagement data to see which campaigns work and which don’t and determine what resonates most with consumers.
With affiliate codes, TV advertisers could potentially gain a better understanding of their audiences and adjust campaigns without waiting for sales figures or Nielsen metrics.
Sometimes, the most innovative ideas begin as crazy ones…
Ready to wear an Oura Ring?
We bet you are!
One loyal reader will get hooked up with this trendy wearable this Sunday. Refer as many people as you can to TheFutureParty until 11:59 pm PST, May 7, to earn more entries. Simply send your personalized link below and make sure they all successfully subscribe before the deadline:
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Good luck!
ECONOMY
Trust in banks is on the decline // Unsplash
Half of Americans don’t trust banks right now
The Future. According to a recent poll, 48% of Americans don’t think their money is safe in a bank. For context, 45% of polled Americans felt this way right before the 2008 financial crisis. If confidence in US banks continues to erode, the country could be in for another crash. Buckle up.
Cash reservations
Gallup conducted the poll back in April following the collapse of Silicon Valley Bank (but before First Republic Bank went down).
19% of those were “very worried” about the safety of their funds, while 29% were “moderately worried.”
Meanwhile, 30% of Americans said they were “not too worried,” and 20% were “not worried at all.”
Americans with college degrees were generally less concerned than those without them.
Overall, Conservatives were more worried than Liberals, a reversal from the results of the 2008 poll.
Nobody panic
The Federal Reserve doesn’t share this anxiety (not publicly, at least). Jerome Powell called the US banking system “sound and resilient” during a press conference on Wednesday. But that’s no surprise since perceptions about the economy eventually become the state of the economy.
Don’t worry… or else your worries might come true.
TOGETHER WITH STRV
Future Forecast
For those of you who like to stay a step ahead, here are a few things we’re excited about right now:
Charts worth a thousand words. Get data-driven visual snapshots into today’s companies that drive tomorrow’s market movements, giving you a more sophisticated topic of conversation for the bar. Going into the weekend, we could all use that. Subscribe to Genuine Impact and join 31,000+ decision-makers, industry experts, and data lovers!
Mindful Miles. Join the TFP fam in celebrating mental health awareness with a guided 5K in Venice, CA, on May 13th. Presented by Charishma Cohen, her fluffy sidekick Boomer (@boomer_the_landcloud), and wellness co. Bloomy (@bloomy.health), the event will have all kinds of self-care services from RVIVL and goodies provided by lots of other great, wellness-forward companies! All proceeds will be donated to SeekHer Foundation.
Highlights
The best curated daily stories from around the web
‘Superfake’ luxury bags are fooling everyone
Copycats and counterfeiters have always beset the luxury industry. But now a new kind of knockoff is in town: Chinese ‘superfake’ handbags that cost a fraction of the $10,000+ products they resemble. They’re proving a huge problem for luxury brands… but only because they’re ruining the industry’s exclusivity.
Read More → nyt
ChatGPT can’t write a funny script (yet)
Fear not, writers — studios can’t replace you with ChatGPT just yet. The Hollywood Reporter commissioned ChatGPT to write a 30 Rock scene about a writers’ strike, and the results were… well, dull. On the other hand, it only cost them $0 and 15 seconds to write a cogent scene, so the guild’s concerns seem justified.
Read More → thr
Alexa answers users with ads now
Amazon’s AI helper just got less transparent. At a recent conference, the e-commerce giant unveiled an initiative allowing brands to create product advertisements in the form of answers to questions people might ask Alexa. Now, asking Alexa how to treat a bleeding hand might make it peddle a Band-Aid.
Read More → inverse
Financial stress is making us lonely and sad
According to BrightPlan’s 2023 Wellness Barometer Survey, most workers are stressed about money — and it’s hurting every aspect of their lives. A staggering 92% of workers are skipping social events and even struggling to focus on their jobs because they’re so concerned about their financial situation. Good thing it’s Mental Health Awareness Month.
Read More → fastcompany
AI speeds up game development by taking jobs
Whether as a bug tester, illustrator, or ghostwriter, AI can make game development faster and cheaper. But — unsurprisingly — this makes it even harder for human workers to survive or break into an industry already notorious for its punishing work schedules and meager compensation. Once again, technology highlights the need for regulation by outpacing it.
Read More → theverge
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Today's email was brought to you by Kait Cunniff and Luke Perrotta. Editing by Nick Comney. Publishing by Sara Kitnick.