👟 The ugly shoe takeover, explained

PLUS: NBA teams are a hot investment. February 8, 2022 [The Hustle] Yesterday we learned about a business that charges couples $995+ for a 45-minute private flight to “experience the mile high club.” Guess there really is a business for everything these days… Also, today is the final day to enter our $5k+ tech giveaway. Full details down below. In today’s email: - Ugly shoes: They’re taking over the world. - 30k-foot chart: The airline market and a $6.6B merger. - Making bank: Why NBA teams are a hot investment. - Around the web: An apocalyptic coat, Jewish Wordle, a very old tortoise, and more internet finds. Let’s do it. The big idea [ugly shoes]( Ugly shoes are taking over the world You’ve seen them. The white New Balance sneakers lovingly referred to as “Dad Shoes.” Once heralded as the pinnacle of ugly shoe excellence, the style is now just one option in a crowded space. According to Bloomberg, a mix of new and old brands are leading a full-blown [ugly shoe renaissance]( that’s pulling in billions of dollars. So who are the key players? One of the primary participants is Deckers Outdoor Corp., which offers a variety of aesthetically ignorant footwear brands, including: - Uggs: The Australian boot brand has long been the company’s bestseller and inspired a long list of questionable fashion decisions in the early 2000s - Teva: The velcro-laden sandal brand originally conceived by a Grand Canyon river guide saw sales grow 66% last summer - Hoka: The French running shoe brand with cartoonish styles is now Deckers’ crown jewel, with sales increasing 47% last quarter On the strength of its ugly shoe triumvirate, Deckers is forecasting $3B in net sales this year. But Deckers has company Ugly footwear has been around for years, and a pair of O.G.’s in the space are still thriving: - Crocs, the foam clog trailblazer, saw its stock hit record highs last year, and is forecasting its revenue to double to $5B in the next 4 years - Birkenstock, and its legendary sandal with a cork footbed, was acquired by LVMH last year in a deal that valued the company at $4.9B For the fashion-forward, there’s also the [Yeezy Foam Runner](, which is like putting your foot in a spaceship made of marshmallows — if you can find a pair. So what’s it all mean? Our affinity for ugly shoes is open to interpretation, but Carolyn Mair, author of The Psychology of Fashion, says, “Fashion, like art, likes to question beauty rather than simply aiming for aesthetically pleasing designs.” For the skeptics who can’t fathom dressing their feet in such eyesores, I challenge you to slip into a pair of [Hoka recovery slides]( and not find yourself swayed to the ugly side. [Share on Facebook]( [Share on Twitter]( [Send as email to a friend](mailto:?subject=The%20Hustle%20wrote%20something%20I%20think%20you%27ll%20like...%0A&body=Ugly+shoes+are+taking+over+the+world%0Ahttps%3A%2F%2Fthehustle.co%2F02082022-ugly-shoe-renaissance%3Futm_campaign%3Dugly%2Bshoes%26utm_content%3D02082022-ugly-shoe-renaissance%26utm_medium%3Demail%26utm_source%3Ddaily%0A%0AYou%20can%20subscribe%20with%20my%20link%20here%20to%20get%20the%20latest%20in%20tech%20and%20business%20daily:%0A [View on our website]( SNIPPETS The saga continues: A compilation video of Joe Rogan using the N-word went [viral](, leading the podcast host to release an apology video and remove ~70 episodes of his podcast from Spotify. Jackass Forever: The 4th installment in the stunt-comedy franchise [pulled in]( $23.5m at the North American box office this weekend, good enough to unseat Spiderman: No Way Home, for the top spot. Meta’s threat: Meta [threatened]( to remove Facebook and Instagram in Europe due to data-sharing laws. (Separately, Peter Thiel — an early, and controversial, investor in the company — will [leave]( its board). Cool (and scary) times: DeepMind [claimed]( its new AI coding engine, AlphaCode, can program at the level of an average human coder. Entrepreneur mental health: The Hustle surveyed 300+ entrepreneurs to dig into mental health issues, stigma, and resources — or lack thereof. Here’s what we [found](. --------------------------------------------------------------- Hey — enjoy getting quick updates on what you care about? Take [20 seconds]( to personalize your Snippets. Pick your preferences👇 and we’ll send you more of what you love. Boom. [Personalize my Email →]( 30k Feet [US airline market share]( Singdhi Sokpo / The Hustle The $6.6B discount airline merger Frontier and Spirit, the 2 largest US discount carriers, are merging in a [$6.6B+]( deal. (Does this mean their delays will be 2x as long? Buh-dum-tss.) The merged conglomerate will be the 5th-largest US airline if it manages to evade antitrust lawsuits. (For more wild airplane tales, check out The Hustle’s original features about how American Airlines [screwed over]( its loyal customers and why airlines need [business travel]( to return.) [Share on Facebook]( [Share on Twitter]( [Send as email to a friend](mailto:?subject=The%20Hustle%20wrote%20something%20I%20think%20you%27ll%20like...%0A&body=The+%246.6B+discount+airline+merger%0Ahttps%3A%2F%2Fthehustle.co%2F02082022-discount-airline-merger%3Futm_campaign%3Dugly%2Bshoes%26utm_content%3D02082022-discount-airline-merger%26utm_medium%3Demail%26utm_source%3Ddaily%0A%0AYou%20can%20subscribe%20with%20my%20link%20here%20to%20get%20the%20latest%20in%20tech%20and%20business%20daily:%0A [View on our website]( The League [basketballs]( Why NBA teams are a hot investment If anyone reading this owned an NBA team over the past 2 decades, we tip our hat to you. The average price of an NBA franchise jumped by +1,057% between 2002 and 2021, per [CNBC](. The return compares favorably to other sports leagues — MLB (+669%) and NHL (+467%) — as well as the S&P 500 (+458%) over that span. Private equity (PE) firms have taken notice… … and established funds to purchase stakes in professional sports teams. Three NBA teams — Golden State Warriors, San Antonio Spurs, and Sacramento Kings — sold minority shares to PE firms in 2021 (a single PE fund is capped to 20% max ownership). Rising team valuations are being driven in large part by lucrative media rights. NBA owners can also use a “roster depreciation allowance” to defer tax payments on sports-related revenue. Why is the NBA so hot? While sports like golf and tennis are considered “global,” the NBA has significant international expansion plans, per CNBC: - Africa: Last May, the league launched a Basketball Africa League to develop talent and build arenas. It’s valued at $1B. - China: In 2019, the Chinese government boycotted the NBA over comments from an NBA GM regarding Hong Kong. But games are still being broadcast, and NBA China is worth $5B. - India: The NBA is slowly expanding into the country of 1B+ citizens. Back in America, the WNBA — a women’s league owned by the NBA — just raised money for the 1st time ever at a $1B valuation. With all the money rolling around, this Vancouver-based writer has one question: When are we getting an NBA team again? [Share on Facebook]( [Share on Twitter]( [Send as email to a friend](mailto:?subject=The%20Hustle%20wrote%20something%20I%20think%20you%27ll%20like...%0A&body=Why+NBA+teams+are+a+hot+investment%0Ahttps%3A%2F%2Fthehustle.co%2F02082022-NBA-investments%3Futm_campaign%3Dugly%2Bshoes%26utm_content%3D02082022-NBA-investments%26utm_medium%3Demail%26utm_source%3Ddaily%0A%0AYou%20can%20subscribe%20with%20my%20link%20here%20to%20get%20the%20latest%20in%20tech%20and%20business%20daily:%0A [View on our website]( TRENDS Bubbling market opportunities, by Trends: Oi. Some of the gems from our weekly Trends newsletter below. - [Mortgages for entrepreneurs](: low-key opportunities to help people who are self-employed cop mortgages and refinance their homes. - [Mighty microchip industry issues](: demand for skilled workers is swelling. We share recruiting- and training-related business ideas. Recent community highlights (crypto edition 🙉): - The [Trends Blockchain Group]( is live and already in stride. - Trash My Idea: NFTs for the consumer packaged goods industry - Smart contract and blockchain courses suggested by Trendsters If you like The Hustle, we think you’ll love the next level. Get access to our full content archive and 17k-strong creative community. [Try Trends for $1 →]( AROUND THE WEB 🏀 On this day: In 1986, Atlanta Hawks player Spud Webb [won]( the NBA slam dunk contest. At 5’7”, Webb was one of the sport’s shortest players, but still bested his 6’8” teammate and 1985 winner Dominique Wilkins. 🧟 That’s cool: This $1,295, 23-pocket [coat]( claims to be the perfect jacket for the apocalypse, protecting against black lava, chemical erosion, fire, and… maybe zombies. 🕎 Cure boredom: [Jewdle]( is like Wordle, except words have 6 letters and may be in languages including English, Hebrew, Yiddish, or Aramaic. Per the game, “Any Jew-ish word is fair game in Jewdle.” 🤓 How to: Dreaming of becoming one of those NFT millionaires? Well, first you’re going to need to know [how to]( make an NFT. 🐢 That’s interesting: [Jonathan](, a Seychelles giant tortoise, is the oldest tortoise in the world. This year, he’ll turn 190 and get a commemorative stamp collection. 🦉 Aww: And now, an owl [impresses]( his friends with a stick. Meme of the day [dad shoes meme] The GOAT ugly shoe. Source: [Ballmemes]( Tech Giveaway [prizes]( New Podcast: $5k Tech Giveaway Want a shot at one of the prizes above?* Here’s what you need to do: Step 1: [Enter here]( for a chance to win. Step 2: Follow The Hustle Daily Show on Apple / Spotify + send the magic referral link to your friends. Every friend that signs up through your link gives you 35 extra entries in the raffle (1 referral = 35 entries). Step 3: Do your embarrassing little ritual and check if you’re one of the 8 winners after February 9th! [Follow the Podcast →]( Prizes: Airpods Pro, Apple Watch Series 7, Fully Standing Desk, iPad Pro, Trends Lifetime Membership, iPhone 13, Macbook Air, Macbook Pro. *NO PURCHASE NECESSARY. Legal residents of the 48 contiguous United States or D.C. 21 years and older. Ends 2/9/22, 11:59 pm ET. To enter and for Official Rules, including odds, and prize descriptions, visit [(. Void where prohibited. How did you like today’s email? Refer friends. Help us grow. 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