Giggin' across America

April 3rd, 2024

Presented by

Was this email forwarded to you? Subscribe

Putting back the velvet rope // Illustration by David Vendrell

Happy Wednesday, FutureParty people. If you’re in California, you may soon have the legal right to not answer your boss. Inspired by laws in Spain and France, a new bill has been introduced that gives workers “the right to disconnect,” allowing salaried employees to outline when exactly they refuse to answer an email, text, or Slack message outside of regular working hours. Of course, there are employer exceptions for emergencies, which we all know will become the excuse for everything.

In other news… Endeavor goes private again, gig work is uneven in America, and Alaska deploys robots to chase squirrels.

We hope you enjoy this and all upcoming issues, but we have one request: please share your feedback. If you have any thoughts at all about our new look, format, and direction, please reply to this email. It’ll go straight to us. Do not hold back.

LATEST PODCAST EPISODE

March 28, 2024

Today we get into how the fashion industry is struggling to find buyers and investors, the popularity of March Madness, and how albums are now franchises.

youtubetwittergooglereddittiktokspotify

🎤 Future and Metro Boomin’s We Don’t Trust You beat Taylor Swift’s 1989 (Taylor’s Version) as the biggest streaming week of any album, clocking 324.3 million total streams of the album’s 17 songs. Read More → hypebeast

💻 Google announced that it’ll delete billions of records of data derived from customers using “incognito mode” in Chrome as part of a lawsuit settlement. Read More → theinformation

✈️ The Alaskan government is debuting “Aurora” at the Fairbanks International Airport — a dog-like robot from Boston Dynamics that’ll be used to scare wildlife from the runways. Read More → theverge

📱 Yahoo is acquiring news-aggregation app Artifact for an undisclosed amount and will shut down the app, choosing instead to integrate Artifact’s tech across Yahoo’s offerings. Read More → techcrunch

👀 Meta tried to “build a clone of Snapchat” in 2016 using data collected from Onavo, one of the company’s least-discussed acquisitions. Read More → insider

Are you a gig worker?

Login or Subscribe to participate in polls.

82% of you voted No in yesterday’s poll: All-lowercase?

“I even punctuate texts.”

“Sometimes, you gotta go caps to make a point.”

“Not all-lowercase or all-caps. Just basic grammar, please.”

.A WORD FROM OUR FRIENDS AT CRYPTO CODE.

How do you crypto like a pro?

You follow a few simple steps.

Step 1: Get to know The Crypto Code. Their trading system is legit.

Step 2: Sign up for The Crypto Code’s free workshop to learn their system and see how they achieved a 365-fold gain in just 90 days.

  • Turn the volatile crypto market into a predictable revenue stream.

  • Transform a modest sum into something big.

  • Use a ready-to-go trading blueprint to get started right away.

.MEDIA.

Endeavor goes private again

The Future. Three years after going public to much media fanfare, Endeavor is going private once again, thanks to a buyout from majority stakeholder Silver Lake Management. With rival CAA locking up a $7 billion sale to Artémis last September (instead of going public), Hollywood agencies may be cooling their IPO dreams in favor of keeping their mystique with wealthy benefactors who want access to cultural tastemakers.

Gold from Silver Lake
Endeavor — the Ari Emanuel-led parent company of WME, IMG, and OpenBet, and the majority owner of TKO Group — is done trying to impress the public markets.

  • Private equity firm Silver Lake, which already owns 71% of the voting shares in Endeavor, announced that it’ll acquire all of the outstanding shares that Endeavor doesn’t already own in a $13 billion buyout.

  • That’s a 55% premium on the stock price of October 25, 2023 (the day before Endeavor announced it was considering a sale) and 9% more than Monday’s closing price.

  • Silver Lake said the buyout gives Endeavor a $25 billion enterprise value — allegedly the largest PE takeover of a public company in more than a decade and the largest ever in the media and entertainment industry.

Ironically, TKO, the parent company of WWE and UFC that spun out of Endeavor, will remain public and is currently worth $15 billion. 

The stocks of both Endeavor and TKO popped at the buyout news.

facebook logo  twitter logo  linkedin logo  mail icon  URL Button
.MEDIA.

Giggin’ // Illustration by Kait Cunniff with Muse AI

Gig work migrates across America

The Future. A new study from consultancy Public First and trade group Flex broke down how app-based gig work has spread across America, creating a map of where companies are deeply ingrained and which ones represent opportunities for growth. Expect regional marketing campaigns to come out in full force in the states where gig work is still in its infancy.

State rides
The gig economy isn’t equal from state to state.

  • Out of the roughly 7.3 million app-based workers in the US, the most are in Florida (6.4% of its labor force), Nevada (6%), Georgia (5.9%), and Washington, D.C. (9%, technically not a state).

  • The fewest are in Tennessee (0.5%), Vermont (1.5%), and South Dakota (1.6%).

About 4.3% of the overall American workforce does app-based work, with the rideshare and delivery industries contributing $212 billion annually to the economy. Public First estimates that the gig industry will be worth $500 billion in ten years.

That’s pretty impressive considering Uber, which put app-based gig work on the map, only started operating in 2009 following the Great Recession.

facebook logo  twitter logo  linkedin logo  mail icon  URL Button
.A WORD FROM OUR FRIENDS AT MASTERWORKS.

$47 million in artwork sales = profits for everyday investors

Masterworks is beating billionaires at their own game by buying paintings from world-class artists like Banksy and Picasso and securitizing them for its investors.

When Masterworks sells a painting — like the 16 it’s already sold — its investors reap their portion of the net proceeds. They’ve already received proceeds from more than $47 million in sales, realizing annualized net returns of 17.8%, 21.5%, 35%, and more.

Now, Masterworks wants to do the same for you. By qualifying every offering with the SEC, Masterworks makes it easy to invest in multi-million dollar paintings.

Offerings can sell out in minutes, but as a trusted partner, TFP readers can skip the waitlist to join here.

***Past performance is not indicative of future returns; investing involves risk. See disclosures at masterworks.com/cd.

Courtesy of Apple

Meetings being transported from Zoom into your co-worker’s living room

Like what you see? Subscribe Now or Partner With Us

Keep the editorial team going! Buy the team a coffee! ☕️

Today’s email was written by David Vendrell.
Edited by Nick Comney. Copy edited by Kait Cunniff.
Published by Darline Salazar.

Join the conversation

or to participate.