What You Need to Know Today: October 8
Good afternoon, Early Risers!
Here’s what you need to know
Handmade at Amazon launches today. When I’m looking for that perfect crocheted-rainbow-jumper, to wear on casual Fridays, my go-to is Etsy. Only because it has monopolized the handcrafted-goods market for so long. Today, that could change, as Amazon launches its own Etsy-like marketplace. If you recall, when Etsy first launched, lots of people found ways of making an extra couple hundred to a couple thousand dollars per month selling their handcrafted-goods from home. Sarah Peterson, our featured author today, even had some success of her own selling on Etsy (turning $0.30 into $5,000 in 4 months), though she now recommends you don’t do it.
Facebook’s ‘dislike’ button has arrived. Facebook is testing a new feature, called “Reactions,” which will let you respond to any post with your choice of six emojis, as opposed to just a “like,” says Business Insider. The testing will take place in two markets, Spain and Ireland. Here’s what emojis Facebook is offering.
Grandma is taking a page out of Pavlov’s book. “The old brand director would talk about how whenever the Skype ringtone would occur, his kids would come running in, and they would anticipate seeing or hearing grandma,” says Steve Milton, sound engineer for Skype. “Having that sound and knowing an association is important, so we don’t want to lose the essence of that.” Whether you’re selling or designing a new product, you should try and be cognisant of engaging most or all of your customer’s five senses. Skype is one example of a company that has mastered sounds.
One thing you should never Instagram. Pics or it didn’t happen. You might want to rethink that before Instagramming this on your next trip.
Two different approaches — which one is better? A few days ago The New York Times announced it reached 1 million digital-subscribers — a huge feat. Yesterday, they announced plans to double digital-only revenue to $800 million by 2020. Here’s the memo. TL;DR: The NYT still believes content is king — and plans to double-down on publishing the best content it can find to attract more subscribers. However, not everyone thinks this approach will work. Matthew Brooks of Macquarie Research thinks print media companies should sell off their printing presses and buy newspaper subscribers tablets instead. I shouldn’t have to tell you why that’s a bad idea. Sacrificing long-term gains for short-term customer satisfaction and awe is not what made the NYT a $400-million-in-digital-revenue-per-year business.
9 pieces of financial advice you need to know. “At the time, I was earning around $45,000 at my TV news job as a producer and sometimes-on-camera reporter. And, crazy as it sounds, I asked to more than double my salary with the new gig. I asked for $100,000. My manager offered $85,000 (which would have been an incredible raise!). But I replied, ‘How about we agree to $90,000 right now and I don’t bother you in six months?’ Next thing I heard? ‘We’ve got a deal. Welcome to TheStreet!’” Farnoosh Torabi has been writing about money for 15 years, and here are the 9 best pieces of financial advice she can give you.
America’s drug advertisers are too good at their jobs. “Simply being in a U.S. trial and receiving sham treatment now seems to relieve pain almost as effectively as many promising new drugs… as U.S. trials get longer, larger and more expensive, they may be enhancing participants’ expectations of their effectiveness,” says Jefferey Mogil, who directs the pain-genetics lab at McGill University in Montreal. Full story.
Why Michael Fassbender looks nothing like Steve Jobs. Tomorrow, “Steve Jobs” opens in theatres. Aaron Sorkin the director explains why he didn’t want Steve Jobs to look like Steve Jobs.
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Because I got high
New research shows runner’s high is not what you think. “… findings suggest that endorphins have little to do with runner’s high. Instead, that euphoric feeling may be the product of a completely different but oddly familiar substance — the body’s own endocannabinoids, the chemicals that, like the cannabinoids in CBD oil, lighten mood.” (The New York Times)
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