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“Facebook and Google should absolutely be broken up.”
Professor Scott Galloway delivered a must-see presentation during our virtual summit NexTech yesterday, deconstructing the economy in incredible fashion, while also explaining in great detail the problems with what he calls “The Four Horsemen”—Amazon, Apple, Facebook, and Google. The presentation, which you can watch here, was packed with data and insights. Here are three of the many takeaways:
- “Advertising sucks, we all realize it.” In the media industry, those that survive will be the ones not relying on shrinking ad budgets, but bolstering subscription models.
- “Amazon is going to be the biggest healthcare company in the world.” Galloway predicted that Amazon will move into the healthcare space next to fuel its continued growth, and as a result, telemedicine will take off.
- “Hybrid educational experience is bullshit.” Galloway said that education is going online, and the Big Four will be there to reap the benefits.
The outlook: Galloway offered some hopeful advice in addition to his dour predictions.
Today’s NexTech lineup (all times E.T.):
- 1:05 pm: Mark Penn, chairman and CEO at MDC Partners
- 1:30 pm: Kevin Kiley, vp at OneTrust
- 1:55 pm: Amy Spitalnick, executive director at Integrity First for America
- 2:20 pm: Jessica Lee, co-chair, privacy, security and data innovations at Loeb&Loeb
- 2:45 pm: Stu Ingis, partner at Venable LLP
- 3:10: Jordan Abbott, chief data ethics officer at Acxiom and Sheila Colclasure, global chief digital responsibility and public policy officer and Kinesso | IPG
- 3:35: Chris D’Angelo, chief deputy attorney general for economic justice for the Office of the New York State Attorney General
5 Key Takeaways After Big Tech CEOs Testify in Meandering Antitrust Hearing
With CEOs at Amazon, Apple, Facebook and Google facing questioning on Capitol Hill, here are some of the topics related to advertising that lawmakers focused on.
- Facebook’s dominance of the social media market through its acquisitions of competitors.
- Facebook’s faulty video metrics, which led to journalism’s disastrous “pivot to video.”
- Google’s integration of DoubleClick, a key part of the tech giant’s domination of the digital ad market.
How the Seattle Kraken Became the NHL’s Best-Selling Expansion Team Overnight
Within 24 hours of the NHL’s Seattle Kraken dropping its name and branding, the team had sold 50% more merch than the league’s previous expansion team, the Vegas Golden Knights in 2017. The smashing popularity of the franchise was the result of an extensive push to maximize its audience appeal: The team, Adidas and creative agency Perch Partners reviewed 1,200 names and about 100 logo designs with help from naming experts, historians, brand agencies, artists and even fans in in-person forums.
Secrets of the logo: It includes several exciting and clever Easter eggs that reference Seattle and maritime history.
- Also in the branding and design world: Learn how Harpoon Brewery, which pioneered Boston’s still-flourishing IPA scene in 1993, crafted a new look that more effectively tells its story.
Chicago Blackhawks Will Prohibit Headdresses at Games and Invest in Education
Although it stopped short of changing its name, the NHL’s Chicago Blackhawks announced yesterday that the franchise will prohibit fans from wearing headdresses to games, one of several new policies that came out of talks with Native American groups. It will also focus on expanding education and storytelling about Native American culture into the organization, including creating an interactive experience for students.
Why Black Nike Employees and Their Allies Are Protesting Every Day at Lunchtime
Black Lives Matter protests in Portland, Ore., have shifted focus to diversity problems at Nike, which is headquartered in the city’s suburbs. Protesters and employees say Nike’s pro-BLM statements have been obfuscating internal practices such as firing non-Black employees to make it look as if the company is more diverse, and not valuing Black voices in the workplace. The company’s diversity and inclusion chief Kellie Leonard stepped down this week following pressure from protesters.
Keep reading: We spoke with Nike employees about the problems within the company.
More of Today’s Top News and Highlights
- Canva Selects OMD as First U.S. Media Agency of Record
- Snap Says Its Diversity Efforts ‘Simply Have Not Been Good Enough’ in First-Ever Report
- IPG CEO Michael Roth Says Q2 Earnings Hit ‘Not as Severe’ as Predicted
- GroupM Unveils Global Effort to Boost Crisis-Stricken Local News
- Neiman Marcus’ Hudson Yards Exit Is a Failure for the Entire Development
- Turner Sports Sells Out Regular Season NBA Ad Inventory Ahead of Restart
French’s Debuts Mustard Beer, an Oddly Fitting Summer Barbecue Beverage
Would you drink mustard beer? To celebrate National Mustard Day on Aug. 1, French’s has debuted a limited-edition craft beer brewed with the brand’s Classic Yellow Mustard and developed in partnership with Colorado-based Oskar Blues Brewery.
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