Fat Equity and Dirtbag Prep
"Hopefully the husband makes money."
‘Ivy Style’ enters its dirtbag era, this $7 drugstore foundation had terrible reviews until TikTok found it, Harry Styles got his hands on Gen Z fave Pangaia, and Miu Miu puts its spin on the New Balance 574.
24 HOURS OFFLINE WITH THE VIPS OF NYC TIKTOK
The whole thing is eye-opening, but this bit, in particular, blew my mind… vox
“I work five hours a day and make two times what I made in finance as an intern [$80,000],” says Violet Witchel, who runs a cooking account and has 1.6 million followers. She’s currently an economics major at Vassar, so when I ask what she hopes to do with her TikTok fame, she’s got a plan: “I’ll probably spend four to five years on TikTok, max — any social media platform flattens out — and then after that join an A- to B-round startup, get a fat equity package, become CMO, make a ton of money, buy my first house, max out my 401k, max out the Roth IRA, every tax-free entity you could think of. And then be CMO for five, six years, get the equity, maybe IPO if you’re lucky. And then a few kids, hopefully the husband makes money. So yeah, we’ll see.”
PIPER SANDLER COMPLETES 42ND SEMI-ANNUAL GENERATION Z SURVEY OF 10,000 U.S. TEENS
Clothing is their No. 1 spending priority for the first time since 2014 (replacing food, of all things); Nike came in as the top apparel brand and (somehow?) Michael Kors is (allegedly?) Gen Z’s preferred handbag brand. What’s more, Snapchat remains No. 1 (35%) favorite social media platform, followed by TikTok (30%); IG, who is having a no good very bad week, comes in at #3. wire
SNAPCHAT IS TRYING TO MAKE IT EASIER FOR GEN Z TO RUN FOR POLITICAL OFFICE
Snapchat’s new in-app initiative — called “Run For Office” — is designed to help Gen Z chart a course towards their political aspirations and “engage with democracy in an easy, native-to-mobile way.” gizmodo
STUDS RAISES $20 MILLION TO BE GEN Z’S HIPPER ANSWER TO PIERCING CHAIN CLAIRE’S
Brilliant timing given Claire’s IPO announcement last week. An interesting tidbit: The “run rates indicate that it will be nearing eight figures in revenue by the end of 2021,” and they’ll be using this cash infusion to expand their retail footprint. (70% of Studs’ revenue comes from its studio-based piercing operations, 30% from online.) forbes
BLUE FEVER, AN ANONYMOUS SOCIAL NETWORK, ACQUIRES GEN Z-FOUNDED TRILL
Well, that’s certainly one way to acquire 100,000 Gen Z users overnight. techcrunch
WHAT HAPPENS TO STUDYTUBERS ONCE THEY STOP STUDYING?
StudyTubers — i.e. influencers who basically film themselves studying — are a niche subculture within the ecosystem of YouTube vloggers, “but with over 600,000 YouTube subscribers and 162,000 Instagram followers, Ruby is a bonafide influencer in her own right. As she approaches her final year of university though, she’s now facing an interesting question: what becomes of a StudyTuber once they stop studying?” i-D
One last thought: