💄Sephora + TikTok

Plus: Automating CEOs, 100 days underwater, Buffalo Wild Wings drama, and more. [View Online]( [The Hustle] A Chicago-area man is suing Buffalo Wild Wings, alleging its boneless wings are more like nuggets. BW3 tweeted that yes, its boneless wings are white meat chicken and also, “Our buffalo wings are 0% buffalo.” In today’s email: - Meta: Lean, mean, job-cutting machine. - Deep dive: Should we automate the CEO? - BeautyTok: Sephora’s TikTok strategy. - Around the Web: An underwater experiment, a virtual tour of a US landmark, a tiny critter, and more cool internet finds. 🎧 On the go? [Listen to today’s podcast]( to hear Zack and Rob break down Meta’s latest layoffs, Microsoft’s new 3D avatars, why people hate changing their passwords, and more. The big idea [Mark Zuckerberg]( Why Meta’s ‘leaner is better’ feels extra contagious Big Tech org charts aren’t the only thing getting flattened. 2023-03-15T00:00:00Z Brad Wolverton Meta CEO and corporate-speak bard Mark Zuckerberg’s “year of efficiency” will bring a second round of layoffs. The parent of Facebook, Instagram, and WhatsApp is set to cut 10k jobs and withdraw 5k open roles, just months after slashing 11k+ jobs. That’s a staggering 25% YoY workforce reduction. And Zuck’s “[flatter is faster](” claim feels like poetry written specifically for tech execs… The industry-wide horror show continues We haven’t even finished one quarter of 2023, or seen the full fallout of Silicon Valley Bank’s swan dive, yet the grim annual tracker at [layoffs.fyi]( has now topped 138k. The scariest part for workers: Wall Street’s [exuberant reaction]( to Meta’s latest cuts. As the company’s projected revenue per employee shot up, other Big Tech investors’ ears undoubtedly did the same — this makes for a trusty playbook when execs need to add some juice to the markets. Yes, these layoffs are [a correction]( from the industry’s outsized pandemic hiring spree, and Zuckerberg’s fixation on investing in the metaverse puts them on their own journey, but… … employees’ edge is clearly slipping Competition for talent once had tech candidates feasting on a bounty of salaries, benefits, and perks. Now they have started to report a “[take it or leave it](” approach in recruitment. As each successive round of cuts shifts leverage back to employers, C-suites will be tempted by Zuckerberg’s “year of efficiency” anthem. [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+Meta%E2%80%99s+%E2%80%98leaner+is+better%E2%80%99+feels+extra+contagious%0Ahttps%3A%2F%2Fthehustle.co%2F03152023-Meta-layoffs%3Futm_campaign%3DWednesday%2BEmail%26utm_content%3D03152023-Meta-layoffs%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]( TRENDING [eyeball wearing a hat] Hot off the press: [GPT-4](, OpenAI’s smarter, more accurate AI model that can now “see” images. It’s already being used by Duolingo, Khan Academy, and Be My Eyes. SNIPPETS Sure, this’ll definitely improve meetings. Microsoft is making [3D avatars]( that animate based on your voice — no camera needed — widely available on Teams in May. Again, not a prank: Novo Nordisk announced [plans]( to cut US list prices for several insulin drugs by up to 75%, following similar [moves]( by Eli Lilly & Co. Clap back: Google announced new [AI tools]( (available later this year) for auto-generating text, formulas, images, audio, and video across its Workspace applications. Chilling out? The consumer price index [cooled]( slightly in February, up 6% YoY, the lowest rate since September 2021. Yikes: Hackers leaked [721.5m]( passwords in 2022. What’s worse, 72% of hacked users were reusing previously compromised passwords. No cap: After ~40 years, spice giant McCormick is [swapping]( its red twist cap for a “snap” cap that seals out air to retain freshness. The DOJ is suing Rite Aid, [accusing]( the pharmacy chain of knowingly filling “unlawful” prescriptions for opioids and other controlled substances while ignoring red flags. eBay haș its first union. Workers of TCGPlayer, a trading card seller eBay bought for $295m in November, [voted]( to unionize last week. Dubai dropped its [30%]( alcohol tax to court more tourists and expats. In 2022, tourists in Dubai spent $29B+. Logistics outsourcing can help small businesses grow quickly without additional staff. [Here’s how]( to use it to simplify your operations. [ceo pay]( Should we automate the CEO? 2023-03-15T00:00:00Z Last August, NetDragon Websoft — a Hong Kong-based online gaming firm with $2.1B in annual revenue — appointed a CEO to helm its flagship subsidiary. The new chief, Tang Yu, was responsible for all of the typical duties of a company figurehead: reviewing high-level analytics, making leadership decisions, assessing risks, and fostering an efficient workplace. - Yu worked 24/7, didn’t sleep, and was compensated $0 per year. Since her appointment, the company has outperformed Hong Kong’s stock market. But there was a catch: Yu wasn’t a human. She was a virtual robot powered by artificial intelligence. Most automation efforts… … have been centered around so-called lower-level and blue-collar jobs. More recently, AI has threatened white-collar roles like [accountants]( and [journalists](. But while executives at the top of the corporate food chain celebrate the cost-cutting virtues of AI displacement, they rarely seem to turn the spotlight on themselves. The incentives for workplace automation are largely financial. So why not start by replacing the highest-paid employee of them all — the CEO? [Read the full story. →]( Free Resource Six free budgeting templates You may not have tables of money, but you should definitely have tables for money. We won’t pretend that spreadsheets alone can quell your shopaholic habits, but they’re a solid place to start. Plus, [these templates]( also work well for events, programs, and more. Six budget-tracking spreadsheets: - Annual, quarterly, and monthly budgeting - Pre-built frameworks with autosum functions - Fit for business moves and personal improvement - Turn your data into gratifying little graphs Since they make the pain more palatable. [Money tables →]( Beauty Biz [applying makeup]( Sephora and TikTok team up Sephora and TikTok are partnering to connect diverse founders and creators. 2023-03-15T00:00:00Z Juliet Bennett Ryla Sephora, TikTok, and ad agency Digitas [announced]( a new partnership: The Sephora x TikTok Incubator Program. It will connect TikTok creators with 12 brands from Sephora’s [Accelerate program](, a six-month incubator for beauty founders of color that culminates in a Sephora brand launch. These are two beauty powerhouses LVMH-owned Sephora sells products from 360+ brands in-store, online, and via its app, [per]( Retail Dive. It has 2.7k+ locations globally, plus a shop-in-shop partnership with Kohl’s that’s anticipated to generate $2B in annual sales by 2025. TikTok has 1B+ monthly active users. Beauty brands go viral on the platform, where #beautytok has [35.4B](views: - The Ordinary saw a [426%]( spike in sales of its peeling solution. - Glow Recipe saw a [600%]( spike in sales, with one product selling out 17x in 2021. Consumers… … are turning away from celebrity brands, instead seeking authenticity and quality, [per]( Bloomberg. An outlier is Rihanna’s Fenty Beauty, also part-owned by LVMH and worth an estimated [$2.8B](. Fenty won consumers over with inclusivity, offering shades for darker skin tones. Sephora Accelerate is geared toward founders of color, and incubation is key to the company’s growth strategy. - In 2013, Huda Beauty launched at Sephora Dubai with false lashes. It now sells 140+ products and generates ~$200m in annual sales, [per]( Forbes. Sylvie Moreau, Sephora president of Europe and the Middle East, [told]( Vogue Business that it’s seeking another “10 or so” brands to follow suit. Should one go viral on TikTok, fans will only be able to get it at, well, Sephora. [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=Sephora+and+TikTok+team+up%0Ahttps%3A%2F%2Fthehustle.co%2F03152023-Sephora-TikTok%3Futm_campaign%3DWednesday%2BEmail%26utm_content%3D03152023-Sephora-TikTok%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]( AROUND THE WEB 😱 On this day: In 44 BC, Roman dictator [Julius Caesar]( was murdered by a group of conspirators. 🗽 That’s cool: A [virtual tour]( of the Statue of Liberty. 🎧 Tune in: Sam and Shaan highlight seven creators who make $50m+/yr. in the [latest episode]( of My First Million. 🤿 That’s interesting: Biomedical engineer Joseph Dituri is spending [100 days]( in an underwater lodge, both to break a record and for research. 🐭 Aww: And now, look at these tiny baby [elephant shrews](. 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