Sunday Snapshots (24th November, 2019)
Diamonds, Marie Kondo, Second-in-commands and Disney+, and onejob
Hey everyone,
Greetings from Evanston!
I’ve been working on a piece about Starbucks that is going to go out this week. I’m super excited to share it with you. If you’d like to get an early look and give me some feedback, just reply to this email.
In this issue of Snapshots, I want to explore:
Diamonds and the manufacturing of desire
Marie Kondo’s right hook
The best newsletter to find a new job
Disney’s second-in-command
And more!
Book of the week
This week, I read Matthew Hart’s Diamond. It looks at how diamonds came to be so coveted, the key players in the Diamond trade, and the human cost of these precious stones. My favorite part of the book was the chapter The Manufacture of Desire. It chronicles how the infamous De Beers Group created advertising campaigns that accelerated the sales of diamonds after World War 2.
The key to their success?
Forging a link between something people do not need, diamonds, and something they do need, love.
De Beers was a vertically integrated company controlling everything from the mines where rough stone that enabled its fortunes came out of the earth to the retail stores where newly-engaged couples could pick out a physical manifestation of their love. They ruthlessly controlled the supply of diamonds to set the price. Any new techniques of discovering diamonds or new sources of diamonds were squashed.
Then came the copywriters.
At the turn of the millennium, they coined messages like, “Every thousand years or so it’s nice to get her something really special for Christmas” and “Which millennium are you waiting for?” Since De Beers set prices, they had to convince men to pay those prices. So ads like “Isn’t she worth two months’ salary?” were common.
All this led me to this question:
If De Beers didn’t have absolute monopoly power, would diamonds be as coveted as they are?
I’m not sure.
The diamond industry is also facing significant headwinds – lower marriage rates and the rise of synthetic diamonds. But at the end of the day, I wouldn’t bet against the susceptibility of humans to be emotionally manipulating.
Business move of the week
Marie Kondo Adds an E-Commerce Shop to Her Site
Marie Kondo created a brand around “sparking joy.” Now, she’s cashing in.
Internet personalities like Tim Ferris and Jocko Willink have perfected this playbook. Gary Varnerchuk even has a phrase for it – “Jab, Jab, Jab, Right Hook.” The jabs are providing value up front through free content. In Kondo’s case, this was her website and Netflix show. The right hook is about capturing some of that value on the back of the trust you’ve gained with your audience.
Kondo is a phenomenon. Her disarming charm and exquisite etiquette makes you want to simplify your own life in her image. She was made for the internet age.
I’m excited to see how her brand endures over time.
Newsletter of the week
onejob has a simple value proposition. Every week, you get three emails each with a single job position. Every job is for entrepreneurial generalists at some of the fastest-growing companies in the world.
The recruitment model is broken. It is too dependent on serendipity and luck.
The man behind it, Thomas Guthrie, is about to launch a series of initiatives around recruitment that will allow you to be a part of a community that will help you through the process.
Get in at the ground floor now.
Random corner of the week
Can Kevin Mayer Deliver the Future of Disney?
Vice Presidents. Lieutenant Generals. Deputy Leaders.
I’m fascinated by second-in-commands. I’ve written about White House Chief of Staffs and Momofuku’s Marguerite Mariscal before.
This was a great profile on Kevin Mayer, the head of Disney+. His swashbuckling style is in contrast to the mercurial Iger. He is being touted as Iger‘s successor for his planned 2021 retirement, which makes this an important profile.
Mayer has a complicated relationship with Disney, having left the company in early 2000s and coming back years later. He has led the mega-expansion through acquisition of key pieces of content – Marvel, Star Wars, and Fox.
Check out the profile.
Meal of the week
I had a great meal at The Allis in West Loop last week. It beats its competition through the simplicity of its menu and a casual environment for great food. I recommend you check it out.
That wraps up this week’s Sunday Snapshots. If you want to discuss any of the ideas mentioned above or have any books/papers/links you think would be interesting to share on a future edition of Sunday Snapshots, please reach out to me by replying to this email or sending me a direct message on Twitter at @sidharthajha.
Until next Sunday,
Sid