Hi (Listen) friends,

I set a new year’s resolution that I have yet to act on: this is meant to be the year of content for me. But it’s only the beginning of August, which means it’s not too late yet!

When I first joined as a Listener while I was in college, I had just discovered the world of venture capital. The coolest people I’ve met, many of whom I’m still friends with today, came from DM-ing strangers on Slack, or @-ing engaged VC creators on Twitter. Some time in 2022, I decided to wind-off content. It was taking up too much time, and was coming in between me learning and absorbing knowledge from the people around me.

But I realized last year that while I was learning at a higher velocity, I was also not articulating my learnings nearly as eloquently. It turns out, writing was an important medium for me, not just to meet cool people, but also to memorialize and synthesize my learnings along the way. It’s just hard to find time to do it consistently, let alone high quality, enough so that I’m comfortable putting it in a newsletter… so every time I try to restart content, I end up with a bunch of drafts and half-written notes.

So, this is… not that. The promise is — a quality round-up of weekly consumer news, on Tuesdays (to start the week) and on Fridays (to finish the week), and occasionally, something else. I’ll be testing this out internally among us for 2 weeks, rolling it out to my close friends for 2 more, and going into September, I’ll be growing the mailing list, to bring Listen’s POV on consumer to more people in the world.

Oh and, no more wordy intros.

WHAT I’M READING THIS WEEK

News + Headlines

Retail space availability has hit a historic low, with national rates at just 4.7%, creating a fiercely competitive environment for retailers and driving up rental prices, especially in high-demand areas like Raleigh and Charleston (Modern Retail).

ThredUp introduces AI tools to enhance customer experience in its expansive secondhand marketplace, aiming to refine search functionalities and personalize shopping through innovative features like image recognition and conversational styling assistance, demonstrating the brand's commitment to leveraging technology for consumer satisfaction amid shifting retail dynamics (Modern Retail).

Vietnamese coffee is surging in popularity, with brands like Copper Cow Coffee expanding into major retailers, reflecting a growing consumer interest in diverse coffee experiences and the unique flavors of robusta beans, a trend reinforced by social media and culinary curiosity. (Modern Retail).

U.S. economy shows resilience with 2.8% growth as consumer spending and cooling inflation contribute to a potential “soft landing,” surprising many analysts who had anticipated a more challenging economic climate (The New York Times).

AI music startup Suno asserts its use of copyrighted music falls under fair use, highlighting a pivotal moment in the ongoing debate over intellectual property rights in the age of artificial intelligence and music generation (TechCrunch).

WHAT I’M TRACKING THIS WEEK

Fundraises + M&As

Ziff Davis has acquired CNET for over $100 million, enhancing its portfolio in the consumer technology space with a storied brand that promises to enrich revenue generation through aligned business models and diversified content strategies (Adweek).

Placer.ai has secured an additional $75 million, elevating its valuation to $1.5 billion, highlighting the increasing significance of location data analytics in diverse sectors, especially as businesses seek to leverage AI for enhanced market insights (TechCrunch).

L’Oréal acquires a 10% stake in Galderma, signaling strong growth in dermatological beauty, reinforcing its leadership in a sector that has outpaced other divisions, as consumers increasingly prioritize skin and hair health in their beauty routines (Forbes).

Walgreens Boots Alliance has divested an additional stake in Cencora, generating $1.1 billion, a strategic move aimed at debt reduction and advancing its capital-efficient health services initiatives amid ongoing corporate restructuring efforts (Forbes).

WHAT I’M DISCOVERING THIS WEEK

Brands + Collabs + Drops

The Ordinary is venturing into body care with a new collection, marking an exciting expansion for the brand known for its accessible skincare, especially following its recent acquisition by The Estée Lauder Companies (Fashionista).

EVERYTHING ELSE ON MY READING LIST

Other Readings + Musings

Supreme's struggle with brand identity and market saturation raises questions about its future, as its shift from exclusivity to corporate ownership under VF Corp appears to have diluted its once-coveted cultural cachet, making it a challenging landscape for the brand's new owners, EssilorLuxottica, to navigate (Modern Retail).

TikTok users are embracing 'underconsumption core' as a response to influencer culture, highlighting a shift towards minimalism and practicality amid economic pressures, signaling a potential evolution in consumer behaviors that aligns with more sustainable practices (The New York Times).

Emerging startups are innovating garment take-back services, yet textile recycling remains a challenge, as brands launch programs aimed at reducing waste, the reality of textiles being repurposed into new garments is still limited, highlighting the need for greater innovation and infrastructure in recycling. (Modern Retail).

If you’ve been forwarded this newsletter, I send out a weekly round-up on consumer + brand investing, and occasionally something more. We’re scheduled for Tuesdays and Fridays, 2x a week. Subscribe to get the latest in your inbox! Thank you for reading, hope you enjoyed this issue.

In these few weeks, expect modifications to this newsletter and its structure, based on feedback I’m receiving. If you have feedback, feel free to reply directly, or text me to let me know.