Search results for: “McKinsey”

  • New Power by Heimans & Timms

    New Power by Jeremy Heimans and Henry Timms was recommended to me by a friend of mine who works with a number of campaigning organisations. It took four years after it was published for me to take it down from the shelf and get stuck in.

    New Power

    Since then, we have had the Hong Kong protests, January 6 disturbances in the US Capitol building where both of their legislative houses operate from. We’ve also had movements around cryptocurrency and the infamous OneCoin scam.

    The book promises to reveal:

    How Power Works in Our Hyperconnected World – and How to Make It Work for You

    Front cover of New Power by Jeremy Heimans and Henry Timms

    Jeremy Heimans

    Heimans is an ex-McKinsey consultant who now runs a social impact agency called Purpose. So one could think that New Power is basically part of Heiman’s marketing strategy. Make of that what you will.

    Henry Timms

    Timms heads up the Lincoln Center for the Performing Arts in New York and has been heavily involved in promoting philanthropic donations.

    Old Power and New Power

    Heimans and Timms provide a model for what they think old power is. A top down power structure, think everything from mainstream advertising, government responses to the COVID-19 epidemic, authoritarian regimes like China’s crushing of dissent or the Russian invasion of Ukraine.

    By comparison, new power is participatory in nature and more of a peer to peer relationship. Examples include memes, crypto bros, the leaderless movement that fuelled the 2019 Hong Kong protests, support for populism and ISIS. ISIS recruitment is actually used as an example in the book.

    How power works in our hyperconnected world

    Heimans and Timms provide an analysis on the general thinking behind how campaigning works in a way that would be most familiar to anyone who has run a social media marketing campaign. I would describe it as a primer for typical corporate management types.

    How to make it work for you

    I personally think that this is where the book falls down. New Power isn’t replicable in the same way that a business process rengineering exercise might be. Sometimes these things take off, sometimes they don’t. They talk about some of the factors in the book, but movements often need a catalysing event like the recent apartment fire in Urumqi, Xinjiang that sparked anti-zero COVID lockdown protests in China.

    You can try and create a catalysing event, but too often it’s astro-turfing that no one ever sees, particularly if you are relying on a dominant platform algorithm. Your new power is actually reliant on old power held by the likes of Mark Zuckerberg or Elon Musk. Instead these platforms have been successfully mastered by authoritarian regimes including the Chinese government who manage to demonetise and have content taken down on western platforms.

    Secondly, the authors try to claim showing a bit of moxie is new power. The example they give is a junior employee speaking to a senior executive that they manage to meet by chance.

    Finally, the book lacks the intellectual rigour and scientific method of Mark Ritson or Byron Sharp’s work, instead relying anecdotal evidence, similar to Malcolm Gladwell’s body of work or Paul Polman’s  Net Positive.

    So, should you buy this book?

    If you like TED talks model of learning a little bit about a lot of things and are reading for your own personal interest or to get a high level understanding of campaigning organisations might work, buy New Power. If you are thinking about changing your business into a more purposeful organisation, read this first instead (and its free).

    You you can find out more about New Power here, find the rest of my book reviews here, and the books that I find most useful here.

  • Disruption crisis

    The idea of the disruption crisis came from a series of conversations that I have been having in recent times and recent online news.

    disrupt_4634
    TechCrunch Disrupt NY 2012 Day Two – May 23, 2012 (Photo: Devin Coldewey)

    What is the disruption crisis?

    The rise of big tech such as Meta, Twitter, Google, Amazon, Bytedance, Alibaba and Tencent drove a wave of digital disruption over the past quarter century. Now the disruptors are being disrupted themselves and I think that they may precipitate a disruption crisis.

    Continuing to look to these digital disruptors is the equivalent of Jimmy Swaggart or Jim Bakker being held up as an exemplar of a good husband and faithful spouse.

    Mass lay-offs

    Others have talked about the layoffs in more depth, so I have included a video explanation.

    I started my agency career during the dot com bubble. We had going for growth at all costs. They talked about trying to move at ‘internet speed’. This was down to the go for growth funding model that drove start-ups through their angel and VC funding rounds and beyond. Common sense was often set aside. if this sounds 180 degrees away from the lean start-up model you’re not wrong.

    Product lines are being shredded

    3 things you need to do now, before Revue gets shut down | AWeber – Revue is an email newsletter platform that was acquired by Twitter and will be shut down by the end of year.

    Amazon, in Broad Cost-Cutting Review, Weighs Changes at Alexa and Other Unprofitable Units – WSJ – Amazon is apparently getting rid of its Alexa speakers, Fire streaming devices and Kindle e-readers. This seems to be a short termist approach to improving profits, at the expense of the long term.

    …Amazon made big bets on long plays, willing to sacrifice immediate profitability to boost its overall position in blue ocean markets. When Amazon’s had to play catch-up, it largely hasn’t worked: the Kindle Phone is maybe the most high-profile mistake/missed opportunity, just to name one. It’s hard to deny that this loss-leader approach has been key to Amazon’s success, although it often made the company a mystery to Wall Street. This would signify a huge shift, totally aside from the 3% of employees who will likely leave the company.

    Hacking away at the Devices and R&D divisions is the most perplexing to me. These are the sources of Amazon’s most signature successes, with the Kindle, Alexa/Echo, and Fire TV. They’re what hook customers when they’re still kids, and that customers above all associate with the company, even as they help ensure loyalty and drive their share of media purchases and retail revenue. The Kindle, like the Echo and the Fire Stick, was always supposed to be a loss leader: you sell the razor at close to cost and make your money back selling the blades. How many books has Amazon sold because of the Kindle? How many Prime subscriptions? How many impulse purchases do people make on their Echos and Fires?

    Tim Carmody, Loss Leaders. (Issue #50) Amazon Chronicles

    Consultants have taken the idea of transformative technology and scrappy startup methodologies to try and reinvent business, or facilitate digital disruption. The problem is that the examples they use as exemplars are failing, casting doubt on their doctrine and fuelling a disruption crisis in boardrooms and the consultants that advise them.

    Unilever – a cautionary tale

    For instance, I contracted at Unilever. I worked rolling out digital brand assets for their Family Brands product line. This was a line of margarines, due to organic growth it has different names in different markets:

    • Blue Band
    • Country Crock
    • Flora
    • Fruit d’Or 
    • Margarina Primavera
    • Plantta
    • Rama

    While I was doing this work, I worked closely with the Becel functional foods and Bertorelli brands. Family Brands was being put into a separate business to develop a ‘startup mentality’. The thing was Family Brands hadn’t been a startup for decades. In fact, it hadn’t been a startup since the 1870s when Antoon Jurgens branched out from trading in butter and started to manufacture margarine. His company merged with rivals Van den Bergh’s, Centra, and Schicht’s to form Margarine Unie (Margarine Union) in 1927, by which time it had a dominant position in margarine manufacturing.

    Three years later, Margarine Unie merges with Lever Brothers Limited to create Unilever and the rest was history.

    Margarine as a substitute good

    Margarine historically was a substitute product for butter. My parents (both of whom came from farming families in Ireland) used to talk about how poor children in the towns would have eaten margarine rather than butter. As a child, we might use margarine to bake a cake, but if we wanted the cake to keep a while my Granny or my Mam would only use salted butter. Despite butter (which we kept in the fridge) being so hard that it might break up the surface of the bread, we used it on our sandwiches, toast or to fry with. Margarine just wasn’t the done thing.

    One of the most damning things that my Granny once said about a friend of hers was:

    She uses margarine to make the ham sandwiches when you’re invited around for a cup of tea.

    One of the first courses that I had at university was in economics, where they used margarine as an exemplar for a substitute good.

    Healthier option

    Margarine started to be considered a healthier option due to concerns about heart disease and cholesterol. Much of this was down to Flora, invented in 1964, which contained polyunsaturated fats derived from sunflower oil. At the same time wholemeal bread started to become preferable due to the requirement for fibre in the diet.

    Yellow fats category decline

    However Although 21st century sales declined as many consumers switched to butter. This was down to changes in consumers wanting a more natural product and heart health improvising. In the five years leading to 2014, sales of margarine fell 6%, while sales of butter rose 7%.

    It was in this atmosphere that the startup narrative was fired up for Family Brands.

    The other shoe dropped when Unilever narrowly managed to fight a hostile bid from 3G Capital a couple of years after I was there. Paul Polman got rid of business lower margin businesses as an attempt to increase earnings. These were still great businesses which is why KKR were happy to take the business off Unilever’s hands.

    Unilever didn’t spin out a startup. It wasn’t disruptive thinking, it was an act of desperation to fend off takeovers or possible greenmailing. The problem with with this is Unilever now has a lot less buying power on global supplies of oils and fats needed for its ice cream, mayonnaise, food additives and personal care businesses – which was the rationale for forming Unilever in the first place.

    Foundational technologies in crisis bringing crisis

    Foundational technologies were cited as new elements that would cause digital disruption. The fall of these technologies and the companies that have championed them have fuelled this disruption crisis.

    Cloud services

    Microsoft and Amazon both saw declining sales in SaaS and related services, as businesses has less employees and needed less seats. Amazon has been cutting deep in its R&D function and devices. This means that Alexa for the hospitality industry and health sectors are likely to be borrowed time.

    Web 3.0 (blockchain, NFTs, cryptocurrency)

    Here’s what my friend Nigel Scott had to say about FTX on LinkedIn:

    There has been a lot of commentary over the weekend on the #ftx #cryptocurrency #exchange collapse

    A lot of words have been typed and spoken but in the end I think the numbers probably sum it up best

    Back in 2018 there was an estimated 200 Crypto Exchanges scattered around the globe

    Over the past 3 years an estimated 200 Crypto Exchanges have either collapsed or disappeared

    This rate of attrition is nothing new. Back in 2014 – after the Mt Gox event – it was estimated 45% of all #Crypto Exchanges had either collapsed or disappeared

    The harsh truth is the risk of failure has always been central, rather than peripheral, to the Crypto Exchange model

    Today there are almost 600 Crypto Exchanges open for business

    The only question that needs to be asked is what fraction of them will still be in business in 2023, 2024, 2025 and beyond?

    and, more importantly, what is the probability of picking a survivor, never mind a winner, in such a volatile environment? 

    Which is to say, contrary to most of the commentary I have read over the weekend, the #ftxcrash isn’t the exception, it’s the rule – what makes it exceptional is the scale, not the probability of the failure 

    Blast radius

    Meteor Crater

    One edition of the Axios Login newsletter used the headline ‘blast radius‘ describe the impact that FTX and other crypto economy problems were having on the wider Web 3.0 ecosystem of decentralised services. Creating a disruption crisis.

    This has forced El Salvador to pursue a free trade deal with China, with the Chinese government buying $21 billion dollars of Salvadoran government debt: China circles El Salvador’s economy as country edges toward crypto plunge | The Guardian 

    Less than four years before disruptive technologies had become mainstream when IBM brought a ‘better way’ of managing supply chain for Walmart by putting their heads of lettuce on the blockchain. Just writing that last sentence made me like my IQ number was dropping; but just four years ago, this was a point of validation…

    Metaverse

    Prior to Meta’s recent financial results and job cuts you had the likes of McKinsey cheerleading for the metaverse.

    With its potential to generate up to $5 trillion in value by 2030, the metaverse is too big for companies to ignore.

    Value creation in the metaverse – McKinsey & Company.

    To give you an idea of how far we are from the much vaunted metaverse, have a look at my discussion paper.

    Social media marketing

    Alphabet has seen a decline in YouTube advertising and search advertising is down by about a fifth in October. Twitter is heading towards bankruptcy as brands stopped advertising on the platform. Meta has also shown a decline in advertising revenue. Snap is doing much worse. TikTok seems to be the outlier.

    Accenture and the disruption crisis

    A quick search of Accenture and disruption yields about 628,000 results. Accenture has latched itself onto disruption in the same way that IBM glommed on to e-business during the first dot com bomb, Sun Microsystems became the ‘dot in dot com’ and the whole of the entire enterprise IT industry latched on to the millennium bug.

    Better than ‘the dot in dot com’

    Some bright minds at Accenture came up with a concept that was ownable, not time-bounded like ‘e-business’ or ‘the dot in dot com’ – you’re kind of done when everyone has a website that can do transactions of some sort.

    Sun Microsystems advert circa 2000

    Accenture welded itself to disruption with the Disruptibility Index which looks at how disruption affects different vertical markets.

    Dark thoughts

    Disruption tapped into deep negative behavioural emotions. Fear, uncertainty and doubt. As tech executive Andy Grove had constantly repeated ‘Only the Paranoid Survive‘. Disruption didn’t necessarily promise a thriving business due to sustained competitive advantage, like earlier generations of technology companies and consultancies. Instead it promised, merely survival in a globalised hostile world, with constant waves of disruption coming at the c-suite. This is the business equivalent of Adam Curtis’ video essay Oh Dearism.

    This gives your internal champions on the client side a bit more political space if their digital transformation projects doesn’t hit all the goals that we would like it to hit.

    Of course all of this could come off the wheels if a great disruption crisis hit, wouldn’t it?

    The disruption crisis doesn’t just toll for Accenture

    It would be remiss of me to just single out Accenture. They have been part of a much bigger movement across professional services, finance, the technology sector and academia. Here are some of the people across academia have had a similar idea to Accenture; they’ve written books like these over the past 10 years or so:

    It has been the fodder of countless conferences around the world. For example here’s a representative of Euromonitor International speaking at a conference of the International Homeware Association (IHA) on digital disruption.

    I am not putting this in here to make fun of the IHA – it is the professional association of a market worth 80 billion dollars a year globally and deserves our respect. Globalisation has centralised a lot of homeware production in the Far East due to globalisation over the past quarter of a century; but it still plays a central, if less visible part in our lives today.

    Instead I am using the IHA as an exemplar of how digital disruption has pervaded all parts of the economy as a central organising principle in modern business thinking.

    That central position in corporate thought means that the disruption crisis becomes much more alarming. Which makes the advice Judy Estrin‘s 2008 book Closing the Innovation Gap: Reigniting the Spark of Creativity in a Global Economy even more urgent

  • Gay blood + more stuff

    Gay blood

    THE GAY BLOOD COLLECTION | MOTHER GOODS – I could see this stunt on gay blood donation not working as well as the idea deserves. The symbolism of what blood means is tied up in squeamishness, despite the fact that we can intellectualise it as the very stuff of life.

    Advertising agency Mother and their gay blood ink stunt

    Why are Mother protesting about gay blood donations?

    US FDA

    In 1983, US medical regulator the Food and Drug Administration (FDA) introduced a guideline that effectively banned men who have sex with men from donating blood, this was as the AIDS crisis came to prominence. This was amended in December 2015, the FDA moved from a lifetime ban on bisexual and gay blood donations to a deferral of one year for any man who has had sex with another man during the past 12 months. According to the FDA, the pre-screening eliminated up to 90 percent of donors who may be carrying a blood-borne disease.

    In April 2, 2020, the FDA revised its policy regarding blood donations from men who have sex with men (MSM), reducing the deferral period from 12 months to three months. Blood donation centres in America screen potential donors by asking a set of questions written to determine risk factors that could indicate possible infection with a transmissible disease, such as HIV or hepatitis. According to the FDA, this pre-screening eliminates up to 90 percent of donors who may be carrying a blood-borne disease.

    The problem isn’t that blood donors are screened but that gay blood donors are held to more exacting standards than other groups at a similar risk of contracting HIV. US activists have picked up this issue. Advertising agency Mother London partnered with artist Stuart Semple to create inks and paints that were made from gay blood donations by Mother employees. More health related content here.

    China

    How Xi Jinping might change the Communist Party’s constitution | The Economist – There could be a practical advantage to resurrecting the chairmanship role, says Ling Li of the University of Vienna. Mr Xi will be violating recent retirement norms if he stays on as general secretary at the congress. He has thus avoided anointing a successor. But by becoming chairman, Mr Xi would make it clear that he plans to remain in power indefinitely, argues Ms Li. That, in turn, might make him feel secure enough to name an heir, perhaps as vice-chairman or general secretary. Mao did much the same, cycling through four heirs-apparent before his death. A successor could be revealed “at a pace and in a manner that Xi finds most comfortable”,

    Slogan Politics: Understanding Chinese Foreign Policy Concepts (Book excerpt)The main argument is that those Chinese foreign policy concepts should be understood as political slogans rather than concrete strategic plans. In this book, slogans refer to short and striking political phrases used “as a means of focusing attention and exhorting to action”. The use of political slogans has a long history in China. This book argues that political slogans are not completely empty or rhetorical, but have several major functions in political communication: (1) declarations of intent, (2) power assertion and a test of domestic and international support, (3) state propaganda as a means of mass persuasion, and (4) a call for intellectual support. The primary function of a foreign policy concept is to serve as a slogan to declare intention in order to attract attention and urge to action.

    Consumer behaviour

    Life After Lifestyle | Subpixel – every marketer should read this.

    Watch this video right though to the end, its an interesting insight into part of American society.

    Economics

    Why the UK is having an economic crisis – by Noah Smith 

    Energy

    Toyota Still Isn’t All In on EV Adoption – hydrogen is going to be more important, Li ion batteries are an environmental disaster

    Finance

    Goldman Sachs’ new $9.7B fund – Inside.com 

    Chinese Regulator Tells Banks to Avoid Political Talk Ahead of Party Congress – WSJ – another aspect of opaqueness in China’s financial system

    Health

    Our Grandfather Story based out of Singapore do some of the most provocative documentaries at the moment on YouTube. This one on people suffering from stage four cancer really punches you in the gut.

    How McKinsey Got Into the Business of Addiction – The New York Times 

    Hong Kong

    Swapping Hong Kong for Crewe: ‘We won’t go back’ – BBC News – there is a slow steady stream of these kind of stories on the UK media

    Innovation

    The Golden Era of the Big Tech Moonshot Is Over | Business Insider 

    Media

    Price hikes to force 25% of US Netflix subscribers to unsubscribe – high price inelasticity

    Google Stadia is shutting down – ProtocolStadia chief Phil Harrison said the platform “hasn’t gained the traction with users that we expected so we’ve made the difficult decision to begin winding down our Stadia streaming service.” Harrison wrote that the company intends to refund all Stadia purchases, including hardware purchases of Stadia controller and Chromecast bundles through the Google Store and all software through the Stadia store, and plans to do so by January. After January 18, 2023, the service will become unavailable, the blog post reads. Harrison noted that this isn’t the end of the road for Google’s gaming ambitions, and the company intends to apply the technology learnings elsewhere – the interesting bit is that Phil Harrison is one of the most respected people in console gaming having spent a long time driving PlayStation’s success

    Online

    Digitization unearths history of British detention camps in Kenya — Quartz Africa 

    War in Ukraine: Meta removes network of Russian accounts – Protocol – the content about Chinese information war programmes process was really interesting

    Security

    Microsoft’s New Security Chief Looks to AI to Fight Hackers: Q&A – Bloomberg – pattern recognition and heuristics as first line

    Hackathon finds dozens of Ukrainian refugees trafficked online | Ars Technica – probably some of the most depressing reading I have done recently

    How Beijing determines US hacked Chinese university, INFRASTRUCTURE, & ~80 countries and media coverage here: China alleges U.S. NSA hacked infrastructure, sent data back to HQ | CNBC 

    Russia plans “massive cyberattacks” on critical infrastructure, Ukraine warns | Ars Technica 

    Web of no web

    Dior takes its Chinaverse presence to new heights with second virtual showcase | Digital | Campaign Asia – Dior is extending its Chinaverse push once again. On September 27, the French luxury fashion house presented its Spring/Sumer 2023 ready-to-wear show in the metaverse via digital space Meta-Ziwu in virtual universe XiRang — a Web3 application owned by Chinese search engine conglomerate Baidu. Audiences were able to watch the livestream within a digitally-rendered space complete with large-scale Dior logos and an other-wordly aesthetic. 

  • Good To Great by Jim Collins

    Jim Collins

    Jim Collins, the author of Good To Great has been researching and writing about what makes companies successful since 1988, though there are points made about this and the similarity of the work done by Tom Peters at McKinsey. Peters eventually turned the outputs of that research into the book In Search of Excellence.

    From this research Collins has written a series of books:

    Good to Great was Collins’ sophomore book published in 2001. I was curious to see how it stands up in the 20 years since publication.

    What’s the book like?

    Amsterdam

    Collins has written a surprisingly accessible book that at the same time demonstrates an academic rigour to the underlying research. A good chunk of the book is an epilogue, frequently asked questions and referenceable materials at the back.

    Each chapter is comes with a summary page and Collins makes good use of visuals to convey his ideas.

    Synopsis

    Collins bases Good to Great around seven ideas.

    • ‘Level 5’ leadership. Collins had a management maturity capability model, the top level on ‘level 5’ was a leader who left their ego at the door with personal humility but professional will. They tend to be work horse rather than race horses. I found this particularly interesting as research that my first agency used to tout showed how a CEO’s visibility or fame had a positive correlation with rising share price, indicating that investors are probably buying on the wrong signals
    • Getting the right people on the bus. The right people comes before vision, strategy, tactics, structure. ‘Who’ before ‘what’. Rigor but not ruthlessness drives people decisions. All of this was based around three principles: 1/ If in doubt, don’t hire. Instead keep searching. 2/ Act when a people change is needed. 3/ Put the best people on the best opportunities. The right people thrive in a culture of vigorous debate in search of the best answers and then stand united behind the collective decisions, regardless of political or personal interests. The right people are your most important asset. You need self motivating people rather than having to work to motivate them
    • The Stockdale Paradox. Retain faith that you will succeed in the end. Regardless of the difficulties. And at the same time confront the most brutal facts of your current reality. Whatever they might be. An honest determined effort is required to find the truth of a situation. 1/ Leading with questions, not answers. 2/ Engage in a dialogue and debate, not coercion. 3/ Conduct autopsies, not blame. 4/ Build ‘red flag’ mechanisms that turn information into something that cannot be ignored. Dealing with problems head on. Leadership doesn’t begin with vision, it starts with confronting facts head on and dealing with their implications
    • The ‘hedgehog concept’. Focus at the interception point between: 1/ What you are deeply passionate about. 2/ What you can be the best in the world at. 3/ What drives your economic engine. It is an iterative process. This becomes the one big thing that you focus on.
    • A culture of self-discipline. Great results over the long term depends on a disciplined culture. It requires people who adhere to a consistent system, but also gives freedom and responsibility within the framework of the system. Discipline means focus, ignoring once in a lifetime opportunities that dont fit within the business focus. Stop doing lists are as important than to do lists. This reminds me of why Apple never put an FM radio in an iPod or iPhone.
    • Technology as accelerator. Technology isn’t a fad that they follow, but apply carefully selected technologies that meat their focus. A classic example of getting this wrong is the way Micro Focus pivoted to cryptocurrency and ended up being bought by rival Open Text. Instead the attitude to technology is down to thoughtfulness and creativity. Contrary to every marketing campaign I did during my first decade in agency life, technology by itself is never a primary cause of greatness (or decline).
    • Good practices are cumulative and compounded in nature. Collins talks about the flywheel effect, the momentum energy required to get it moving requires consistent pressure, but once it gets moving subsequent pressure means that it moves the flywheel at a much faster rate

    Where Good To Great didn’t age well

    The example of Wells Fargo standing out as an exemplar jarred with me. Wells Fargo is cited as a prime example of a great company, but there are examples of a number of cracks in its culture over years

    • Allegations of higher costs charged to African-American and Hispanic borrowers on sub-prime loans which resulted in fines and damages paid totalling 175 million dollars
    • Failure to monitor money laundering
    • Price gouging on overdraft fees
    • National mortgage settlement, the second largest civil settlement in U.S. history
    • Race discrimination in hiring practices

    Good to Great limitations

    Good to Great focuses on American companies, there doesn’t seem to be a consideration of how national culture may have an impact on the firm. Where does China’s wolf culture or Samsung’s punishing culture fit in the kind of model that Collin’s proposes in his book? I don’t know the answer but its a topic worth exploring in a more global business environment. I think that its particularly interesting because Collins’ work has been widely read by Chinese business people, yet their ‘great companies’ look very different to the corporates that Collins cites as good to great in nature.

    In conclusion

    Collins has created useful management book for departments as well as large corporates, which explains why it has been published in so many languages including Spanish and Chinese. What is less apparent in Chinese corporate culture is how influential the book has really been.

    You can find my updated list of professional reading materials here and further book reviews here. Lastly, more on Good to Great here.

  • Platinum jubilee + more stuff

    Platinum jubilee versus pride

    Transforming logos for Pride has lost brand impact | Marketing WeekWhen the mass market starts arguing over who gets the specially altered distinctive asset for the month, it’s probably time to retire the whole code-playing business forever. Monkeys cannot run the zoo – especially the zoo’s Special Surprise Tricks Unit, which designs things to influence the monkeys without them knowing anything about it. Pride month clashed with the platinum jubilee. Brands got involved with the platinum jubilee celebrations as planning got under way by local councils and British embassies by mid-May. The platinum jubilee allowed brands to reach a wider swathe of consumers than would otherwise be the case and increase their relevance to consumers lives. Celebration of pride month was seen as brands ‘deprioritising’ the platinum jubilee on one side, while platinum jubilee critics were seen as been prejudiced in nature. What struck me was the quiet of the voices in the middle ground of the Pride – platinum jubilee dispute. Perhaps its better for brands to stay out?

    China

    Investors return to Chinese stocks after sell-off triggered by Covid and geopolitics | Financial Times – worthwhile considering alongside the following story: Chinese ex-securities regulator handed suspended death sentence | Financial Times. And then there is the ‘headwinds’ hitting stocks: From Tencent to Alibaba, Tech Headwinds Are Hitting Chinese Firms Hard – Bloomberg  

    Chinese Influencer’s Ice-Cream Pitch Inadvertently Introduces Fans to Tiananmen Square Massacre – WSJ – there is a ‘Brass Eye’ quality to the influencer clip, I wouldn’t have been surprised if someone thought that they were being edgy and set him up. ADV China has an interesting video about the ‘Streisand Effect’ that occurred when Mr Lipstick was detained

    Consumer behaviour

    The West’s Struggle for Mental Health – WSJAmerican psychiatrists have been studying rates of functional mental illness, such as depressive disorders and schizophrenia, since the 1840s. These studies show that the ratio of those suffering from such diseases to the mentally healthy population has been consistently rising. Ten years ago, based on the annual Healthy Minds study of college students, 1 in 5 college students was dealing with mental illness. – and depression has surged 135 percent over an 18 year period. The finding are that “The more a society is dedicated to the value of equality and the more choices it offers for individual self-determination, the higher its rates of functional mental illness.”

    The 37-Year-Olds Are Afraid of the 23-Year-Olds Who Work for Them – The New York Times 

    Culture

    Quentin Tarantino, Roger Avary to Launch ‘The Video Archives Podcast’ – Variety – maybe a worthy successor to Alex Cox’ Moviedrome?

    Economics

    Getting Deglobalization Right by Joseph E. Stiglitz – Project Syndicate 

    Just Say No to “Friend-Shoring” by Raghuram G. Rajan – Project Syndicate – not an argument that I particularly agree with

    Energy

    Toyota’s prototype ‘cartridge’ is a way to make hydrogen portable | Engadget 

    Samsung sued over battery management algorithms – eeNews Power 

    LNG revolution: Germany’s plan to wean itself off Russian gas takes shape | Financial Times – also a good opportunity to pivot to hydrogen

    Finance

    Ex-Merrill Banker’s Broker App Boosts Valuation to $5.4 Billion – Bloomberg 

    FMCG

    ☕️ Candy in your coffee – this seems to be an extension of the ‘sweet flavours’ available historically from the likes of Dunkin Donuts and other coffee outlets

    UK sales of low-alcohol and no-alcohol beers almost double in 5 years | Financial Times 

    Germany

    German elites close relationship with, and facilitation of authoritarian regimes comes under examination: After Xinjiang Revelations, Germany’s Ties to China Are Under the Microscope – DER SPIEGEL and Olaf Scholz and Ukraine: Why Has Germany Been So Slow to Deliver Weapons? – DER SPIEGEL 

    Hong Kong

    National security law: can Hongkongers still hold June 4 commemorative events marking anniversary of Tiananmen Square crackdown? | South China Morning Postpolitical scholar Steve Tsang, director of the University of London’s School of Oriental and African Studies, also said the security law was intended to ensure activities that were deemed unpatriotic could not take place in Hong Kong. “It has been enforced in a way to secure an intimidation effect,” he said. “Unless someone or members of a civil society organisation are prepared to be charged and jailed … they will not hold a public event of any sort.” Lau Siu-kai, vice-president of the semi-official Chinese Association of Hong Kong and Macau Studies, said a large vigil commemorating June 4 might be seen as an act that undermined China’s sovereignty and therefore was not worth the risk. Asked what kinds of June 4 events might be allowed in the future, the pro-Beijing scholar said: “Some implicit actions, in private, and in small groups, should be fine under the current political atmosphere.” Simon Young Ngai-man, associate dean of research at HKU’s law faculty, said the question centred on whether such acts signalled “seditious intent”, which might risk violating the Crimes Ordinance – an offence punishable by up to two years in prison for first-time offenders. “Note that intending to promote feelings of ill will and enmity between different classes of the population is also a seditious intent,” he said. “The precise meaning of ‘exciting disaffection’ is unclear. Does it cover any kind of criticism of the Chinese and Hong Kong governments?”

    Ideas

    Interview: Katherine Boyle, venture capitalist – reinvigorating American manufacturing

    There’s no such thing as data — Benedict Evans and more at the FT: There is no such thing as ‘data’ | Financial Times 

    Putin’s Hard Choices | Foreign Affairs 

    Diabetes drug leads to notable weight loss in people with obesity – study | The Guardian – interesting article that touches on multiple aspects of obesity as a chronic condition. The biggest issue is that government’s aren’t looking to treat it as the chronic condition related to an an endocrine system imbalance that it is. I worked on a rival drug to the one mentioned, which is being promoted in the US and other countries at the moment

    LSD microdosing does not appear to improve mood or cognitive ability, according to new placebo-controlled study 

    What If Ukraine Wins? | Foreign Affairs and Chartbook #128: Mission command – NATO’s Strangelove vision of freedom enacted on the Ukraine battlefield 

    Innovation

    An Oxford case study explains why SpaceX is more efficient than NASA — Space Business — QuartzPlanners behind projects that attempt to achieve a massive gain in a single leap, they posit, enmesh themselves in psychological patterns that lead to failure. They delude themselves in thinking the actual costs of the project will be much less than expected, because if the real costs were known, the projects would never be attempted. Platforms, on the other hand, grow incrementally. These aren’t just digital constructions but real world activities that share several characteristics: Repeatability, extendability, the ability to absorb new knowledge and adapt to new situations.

    South Korean steelmaker warns green push will benefit China and India | Financial Times – unless western markets demand supply chain traceability

    How to Identify Underrated Markets 

    Japan

    The Japan that Abe Shinzo made – by Noah Smith – Noahpinion 

    Korea

    ‘Muscles look cooler’: South Korean women reshape idea of beauty | South Korea | The Guardian

    Luxury

    The Inside History of the Queen’s Top-Secret Tweed – Robb Report 

    Why buzzy Instagram accessories labels are investing in ready-to-wear | Vogue Business 

    Bottega Veneta to re-release archival pieces, build lifetime repairs | Vogue Business – I was surprised that they weren’t doing lifetime repairs previously

    Marketing

    Brainlabs goes for global growth with strategy change 

    Media

    Visual Artist Amber Park on Navigating the NFT Space as a Female, Asian, Queer Creative 

    Criteo helped arms manufacturer Beretta target ads to prospective customers | Advertising | Campaign Asia 

    Online

    Brand Health Check: Is it the end of the road for Uber in APAC? | Marketing | Campaign Asia 

    Nike will end run club app in mainland China — Quartz 

    Retailing

    Why Americans are poorly served by their grocery stores | The Economist 

    What Happens When You Pivot to a Reels-only Strategy on Instagram? | Later 

    Security

    Microsoft Azure cross-tenant cloud security flaws concerning – Protocol“It’s concerning. And it is a pattern,” said Rich Mogull, CEO at independent security research firm Securosis and a longtime security industry analyst. “And so the question is: Do we believe that that’s because they’re under greater scrutiny? Or is it that they have more problems? It might be a little bit of both.” At cloud security firm Orca Security, whose researchers have found two of the cross-tenant vulnerabilities in Azure services, the issues strongly suggest that Azure is not withstanding the pressure applied by researchers to the same degree as AWS and Google Cloud, according to Orca CTO Yoav Alon. – the more things change, the more they stay the same

    Deadly secret: Electronic warfare shapes Russia-Ukraine war | AP News – Russian jamming of GPS receivers on drones that Ukraine uses to locate the enemy and direct artillery fire is particularly intense “on the line of contact,” he said. Ukraine has scored some successes in countering Russia’s electronic warfare efforts. It has captured important pieces of hardware — a significant intelligence coup — and destroyed at least two multi-vehicle mobile electronic warfare units.

    Singapore

    Jack Ma’s Ant Group unveils Singapore digital bank – ANEXT – in overseas expansion push | South China Morning PostANEXT Bank will provide digital financial services to micro, small and medium-sized enterprises that have cross-border operations, it said in a statement on Monday. Ant’s wholesale license allows it to serve small and mid-sized firms and other non-retail segments, and requires a capital commitment of US$73 million

    Telecoms

    Apple’s Space Ambitions are Real | I, Cringely 

    Web of no web

    Marketing in the metaverse: An opportunity for innovation and experimentation | McKinsey 

    VR speculation – Apple looks to its first headset for next breakthrough product | Financial Times and Apple prepares new video content to support VR headset launch next year – report – Telecompaper 

    Immersive VR deck claimed as world’s first ‘metaverse… Smart2.0 

    Apple dives deeper into cars with dashboard software | RTE 

    A primary metaverse leader is leaving Microsoft at the wrong time — QuartzKipman’s exit came as a surprise to some AR industry insiders. Kipman has been the leading evangelist for Microsoft’s immersive computing efforts since the launch of the HoloLens AR headset in 2015, which he helped develop. In addition to the HoloLens, Microsoft offers its bleeding-edge Azure Kinect spatial computing depth camera, which captures and tracks 3D objects. The company has also developed Microsoft Mesh for shared AR interactions, supports a wide array of VR headsets via its Windows Mixed Reality platform, and boasts one of the most popular VR communities in AltspaceVR.  Quietly, Microsoft has become the biggest name in the metaverse next to Meta, largely due to its focus on business enterprise users. But now that Microsoft is losing its immersive computing champion, where does the company’s metaverse path lead? And why is Kipman leaving at such a crucial moment? 

    From new headsets to a VR bar — fantasy meets reality | Financial Times