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š Tesla Losing Market Share
PLUS: Americaās Biggest Nonalcoholic Beer Brand, Nikeās Sales Are So Poor
Dear founder, hereās your 3-minute recap (without the fluff):
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Tesla's dominance in the U.S. electric vehicle market slips below 50% for the first time (link)
Gen Z's growing interest in sobriety has helped Athletic Brewing, the largest non-alcoholic beer brand in the U.S., double its valuation to $800 million (link)
Nike brings back former executive to fix its retail partnerships as sales slump (link)
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š Resources
Elon Musk's masterclass in marketing (link)
50 pieces of advice after 5 years as an entrepreneur (link)
āFacebook Employee Handbookā - Great read for founders (link)
10 highlights about Bernard Arnault to know (link)
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š° FundingVolley raises $55M for voice-enabled AI games (link) Fluently raised $2M in a seed round to fund its AI-powered English coaching platform (link) | š¼ Job BoardStaff Software Engineer at Pinterest (Remote) Senior Solution Consultant at Genesys (US) |
š Etcetera
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šļø News
Teslaās Share of U.S. Electric Car Market Falls Below 50%
Tesla's share of the U.S. electric vehicle market has fallen below 50% for the first time, dropping to 49.7% in the second quarter. This decline coincides with a surge in overall EV sales, which reached a record 330,463 units. General Motors, Ford, Hyundai, and Kia are gaining ground, contributing to the market's growth.
Despite this, Tesla's stock remains strong, with a 3.7% increase. The company's aging lineup and the rise of competition from established automakers have contributed to the shift in market share.
Americaās Biggest Nonalcoholic Beer Brand
Athletic Brewing, the leading nonalcoholic beer brand in the U.S., has doubled its valuation to $800 million following a $50 million equity financing round led by General Atlantic. The company plans to expand its brewing capacity and product range to meet the growing demand for nonalcoholic options, particularly among Gen Z consumers who are embracing sobriety.
Athletic Brewing's focus on quality and innovation has allowed it to outperform established beer brands in the rapidly evolving beverage landscape.
Nikeās Sales Are So Poor
Nike has rehired Tom Peddie, a 30-year veteran, to help fix its faltering relationships with retailers. Peddie will serve as vice president of marketplace partners. The move comes as Nike struggles to revive its sales amid competition from new sneaker brands and a shift to a digital platform that has strained its ties with retailers.
Nike's sales have declined, with a 2% drop in Q4 revenue and an expected 10% dip in Q1 sales. The company had its worst trading day, losing $28 million in market capitalization, following its recent earnings report.
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