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🚀 IG's founders unveil their next act

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🚀 IG's founders unveil their next act

Plus, why does every app have a subscription now?

Justine & Olivia Moore
Feb 5
9
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🚀 IG's founders unveil their next act

www.readaccelerated.com

trending 📈

📱 IG founders launch new app. Instagram co-founders Mike Krieger and Kevin Systrom are back with a new product: Artifact, a personalized news feed driven by AI. It serves you news articles (and other text-based content, like blogs) based on your interests. Over time, your feed will adjust based on what you engage with, and there will be more social features to discuss with friends. The product today is in private beta, but early users have shared some screenshots and feedback.

💸 ChatGPT opens paid plans. OpenAI’s chatbot ChatGPT has started rolling out a premium plan—ChatGPT Plus—for $20 per month. The three main benefits are priority access to the product (no more “ChatGPT is at capacity” message), faster response times, and an early look at new features. It’s currently only available to U.S. users.

In other news, Microsoft launched a new premium tier of Teams (their Slack competitor) that includes GPT-powered features like intelligent meeting summaries, recommended tasks / next steps, and real-time translation.

📊 Earnings updates. Tech earnings season is in full swing! A recap of the week:

  • Apple saw its first YoY drop in quarterly revenue since 2019 - hardware sales were down, with a 30% decline in Mac revenue.

  • Alphabet also missed expectations for the quarter, largely due to a pullback in ad spend across YouTube and Google search.

  • Meta was a bright spot - the company’s stock climbed 20% after it beat revenue expectations (though still reported a YoY decline).

Twitter avatar for @elonmusk
Elon Musk @elonmusk
Starting today, Twitter will share ad revenue with creators for ads that appear in their reply threads
4:21 PM ∙ Feb 3, 2023
135,352Likes13,392Retweets

Big news for Twitter users - you can now make money from your viral threads. Twitter is going to start sharing revenue with creators from the ads that appear in replies to their threads (it’s worth noting that the creator must subscribe to Twitter Blue). It’s TBD exactly how this will work and how much money creators can expect to make.

We’re interested to see the results start to roll in, as well as the extent to which this changes the Twitter experience. Will we see a ton more threads? Are text-based content creators on other platforms going to try out Twitter, now that they can monetize? Will it eventually expand to any kind of viral tweet, not just threads?


what we’re following 👀

How TikTok has accelerated “dupe culture.”

An AI-powered, 24/7 Seinfeld parody show is a hit on Twitch!

What happens when doctors start charging for emails?

A look into Madhappy’s rise to Gen Z streetwear fame.

Is Snapchat+ still being subscribed by users? / Digital Information World

There’s a lot going on in the consumer subscription world right now! It seems like every company is either adding a subscription, raising prices, or tweaking their offering (we’re looking at you, Netflix 👀)

All of this news ultimately boils down to one thing - companies are trying to directly monetize their user base more effectively. A few core themes:

  • Social apps add subscriptions. Social apps have traditionally made money on ads, but this is changing. In the past week alone - Snapchat announced 2M users for Snapchat+, Twitter will share ad revenue with creators (as discussed above), and Instagram code revealed it may be testing a “pay for verification” feature.

  • Media companies enforce paywalls. Netflix is the most prominent example of this. This week, the company accidentally leaked details of a potential plan to crack down on password sharing, which would require users to log in on their home network every 30 days. Separately, Peacock announced that users will no longer be able to sign up for a free tier - it will all be premium.

  • “Super premium” starts to go mainstream. The average subscription app charges $60 / year, but more companies are starting to break the mold and offer higher price points with more features. One example? Tinder is reportedly testing a $500 / month subscription that could rival higher-end matchmakers.

Twitter avatar for @omooretweets
Olivia Moore @omooretweets
Tinder testing a $500/month plan might seem crazy… But I think more subscription apps should try it. Here’s why ⬇️
Image
4:59 PM ∙ Jan 20, 2023
129Likes7Retweets

This isn’t surprising to see in a more challenging macro climate, where companies are trying to get as many dollars as they can from each user (especially in the case of Netflix, where the “moocher to payer” ratio is likely astronomically high!). Another driver of this is the shifting ad market. As brands have cut back on ad spend, consumer platforms have had to look elsewhere for dollars.

This might seem like a sign of doom and gloom. However, we see opportunity for a focus on “up-leveled” subscriptions to make products we love even better. Twitter Blue is one example - the premium version has brought features that users have been asking for for years, including editing tweets and paying for verification.

As with the great unbundling of media, consumers may have to make some hard decisions around what they want to continue to use - and what they will be willing to pay for. We’re interested to see if this drives more consolidation among subscription apps over time, and what kind of products thrive in a subscription-first age!


jobs 🎓

Peek - Strategy & Biz Ops Associate (Remote)

Clipboard Health - Associate Product Manager (Remote)

Subject - Ops Strategy Associate (Remote, LA)

Fin Capital - Investment Associate (SF, NYC)

thredUP - Chief of Staff to the CEO (Oakland)

Lazard - Venture & Growth Associate (LA)

Contrary Capital - Build Partner* (NYC)

Orchard - Strategic Finance & Ops Associate (NYC)

Northzone - Associate (London)

Cherry Ventures - Analyst (Berlin)

*Expects 3+ years of experience.

internships 📝

Marmalade - Marketing Intern (Remote, NYC)

Lyft - Product Design Intern (Remote)

Zenda Capital - Research Fellow (Remote), originally 1/27 deadline but extended

thredUP - Product Design Intern (Remote)

Hipcamp - Operations Intern (Canada)

Discord - Product Engineering, MBA Strategy & Biz Planning Interns (SF)

Freenome - Market Development Intern (South SF)

C3.ai - MBA BD Intern (Redwood City)

Robinhood - Consumer Product Intern (Menlo Park)

PayPal - MBA Crypto Growth Intern (San Jose)

Disney - Disney Accelerator Intern (Glendale)

Free Agency - Social Media Intern (NYC)


puppy of the week 🐶

Meet Truffles, a two-year-old English goldendoodle who lives between DC and Florida.

He enjoys hikes in national parks, eating his mom’s homemade treats, and going kayaking.

Follow him on Instagram @its.truffles!


All views are our own. None of the above should be taken as investment advice. See this page for important information.

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🚀 IG's founders unveil their next act

www.readaccelerated.com
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COVID 19 VACCINE
Writes Nazrul’s Newsletter
Feb 9

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COVID 19 VACCINE
Writes Nazrul’s Newsletter
Feb 9

Selfish leaders ! Selfish generation ! Selfish 21st century ! Selfish you will destroy yourself by yourself ! Everywhere what is happening is nothing but deliberate evil action by the secret societies. What does it benefit a man if he gains the whole world yet at the end looses himself.??? So what you are a prime minister !!! So what you're the president !!! So what you are a king !!! So what hat you are a church leader !!! STOP ENSLAVING PEOPLE ! And enough lies ! Enough lockdown !! This is slavery ! And enough so called CORONA ! It can be treated quite easily with proven medications, not untested so called experimental Covid Vaccine done by evil intentions. Let bill gates jab himself with it, let the Rockefeller jab themselves with it, let the Rothschild jab themselves with it, let Klaus Schwab jab himself with it, let George Soros jab himself with it, Enough stupidity !!!! Enough !!!! Stop forcing people to take Vaccination because of safety measures. Get a life. Your so called PCR testing kits are fraud. Your statistics are a fraud, the world health organisation are a fraud. NIH Anthony Fauci is a fraud. Is there anyone's among you to be a man to stand up and speak the truth, even if it takes them to be kicked out ,!!! Is there ???? Are you all cowards ??? Has money blinded you ?

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