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- 🏠 LinkedIn is so back
Gm. Humbled and honored to announce LinkedIn is so back.
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SOCIAL MEDIA
LinkedIn SZN
LinkedIn, future king of social media platforms?
It sounds like a ridiculous statement. After all, the competition is quite fierce.
Instagram has the image-sharing market on lock. TikTok dominates the short-video market. Twitter is where the thoughtbois and shitposters hang out. And Facebook is still popular among boomers.
It's hard to imagine LinkedIn, historically known for professional development and cringe, claiming the throne. But, after LinkedIn's 2022, you can't rule it out.
A Banner Year
LinkedIn had a great 2022:
58.4 million app downloads in 2022, a 10% increase from 2021.
Contrast LinkedIn year with the other social media platforms, and it looks even better:
TikTok is in regulatory hot water.
Facebook's ad business has been decimated by Apple's iOS privacy changes.
Instagram users aren't super pleased with Instagram's attempts to emulate TikTok.
And Twitter has laid off over half of its team.
What Gives?
The main reason for LinkedIn's success is the extensive tech layoffs. Unemployed white-collar workers are like catnip for LinkedIn, the professional social network. So it's not surprising that LinkedIn went up as the tech industry went down.
Another explanation could be uncertainty at Twitter. We've already seen the rise of Twitter alternatives like Mastodon. It makes sense for LinkedIn to grab a share of these greener grass seekers as well, especially with the new trend of LinkedIn shitposting.
Whatever the reason is, LinkedIn had a fantastic 2022. Let's see how they follow it up in 2023.
FUTURISM
Top 3 From Consumer Electronics Show
What happens in Vegas does not stay in Vegas.
Every years, thousands flock to Vegas for CES to see unreleased prototypes and tech.
Uber for Flying Cars
A company called Aska revealed its flying car this year.
Oh, did I mention they have preorders for the $789,000 ride?
They're hoping to build the Uber of flying cars. Um, hell yes.
*FAA approval pending*
The Desk-Bike You Always Wanted
Drink too much coffee before a big meeting?
Get your jitters out by biking during work.
Plus the bike powers your devices.
One screen, two screen, red screen, blue screen
Screw screen-fatigue.
Lenovo's Yoga Book 9i has 2 screens, turning one into a touchpad.
QUICK HITS
Seed Round
Stat: $29 billion: The valuation at which OpenAI is selling shares. Pretty good for a company that doesn't make much revenue, but if CEO Sam Altman is to be believed, that will change very soon.
Story we're watching: Jack Ma is giving up control of Chinese FinTech giant Ant Group. It's the latest setback in a tough couple of years for the Chinese business mogul, and it further muddies the future of Ant Group amid tough regulatory crackdowns.
Rabbit hole: The Next Big Thing in 2023 Will Be...(Next Big Thing)
WHAT ELSE IS GOING ON
Because of California's new law that requires employers to show pay on job listings, we now know what big tech workers make.
Katrina Lake is coming back as CEO of Stitch Fix to try to save the company.
Silvergate Bank is on the brink after having to sell assets at a loss to cover $8.1 billion in withdrawals during the FTX collapse.
The U.S. unemployment rate is down to 3.5%.
MONDAY MUSIC
$ by DRAM
A certified banger about making money. Been listening for 5+ years.
LAYOFFS TRACKER
Notable layoffs this week
Huobi: 220 people (20%)
Compass: 350 people (10%)
Stitch Fix: 490 people (20%)
FOUNDERS CORNER
The best resources we came across this weekend that will help you become a better founder, builder, or investor.
📺 I just joined Descript to edit up TikToks. You can edit videos by editing your transcript. As someone who has been editing videos since age 11, this is frigging incredible.
📕 I finally switched completely over to Readwise's Reader app for all my online reading. You can basically highlight and take notes on the web. Must-need.
⏰ Check out the Time Billionaires newsletter by Aadit Sheth, a solopreneur and writer. I love getting his emails every week.
FRESH POWDER
Looking at three startups that recently topped up their coffers. Congrats!
