Progressive muscle relaxation (PMR) is a popular relaxation technique in which a person alternates between tensing and relaxing their muscles. We tell you this because, in a recent survey of 800 employers, 20% reported seeing recent grads bring a parent along to a job interview. Upon reading that, every muscle in your body tensed up. Now, relax them as you remember you’d never, ever do something like that, and — presto — you’ve PMR’d to start the day. Have a nice, relaxing one.
In today’s email:
Taxing times: Governments are over under-the-table cash.
Hydrox: How Oreo nudged out its “far superior” rival.
Traffic standards: The US gets ahead on getting around.
Around the web: Why snails and slugs are so slow, every sharing tool you’ll ever need, and more.
👇 Listen: Grocery store shelves are not the meritocracy you may think.
The Big Idea
Governments want to tax your Poshmark sales
The UK is cracking down on gig workers, from rideshare and delivery drivers to people selling their old clothes.
2024-01-10T00:00:00Z
Juliet Bennett Rylah
Selling that sweater you never liked or the pants you outgrew may not seem like the sort of thing your country’s coffers would care about, but for some, the taxman cometh.
The UK is cracking down on platforms like Vinted, Depop, and others, requiring them to report resellers’ income to His Majesty’s Revenue & Customs (HMRC) — the UK’s tax agency — beginning in January 2025.
That info will be shared with the jurisdiction where sellers live; any income above ~$1.2k must be reported and could be taxed. Previously, HMRC could request info, but it wasn’t automatically provided.
These rules also apply to other online platforms where people can carve out a side hustle, including Airbnb, Etsy, eBay, and rideshare and delivery apps.
It’s not just the UK
The global gig economy has soared over the past several years, and governments are taking notice.
The Organisation for Economic Co-operation and Development (OECD), an international economic group with 38 member countries, published model reporting rules reflecting the gig economy, which the UK has based its regulations on.
In 2022, the US began requiring platforms to report incomes of $600+ (previously set at $20k) to the IRS. However, enforcement has been repeatedly postponed.
That said…
… Vinted CEO Adam Jay told the BBC that only a “small proportion” of Vinted sellers cross the taxable threshold. And Airbnb hosts who rent a room in their own home may earn up to ~$9.5k annually without paying taxes, perThe Guardian.
Thus, the rules will seemingly only affect those turning a profit, and not people selling old clothes to make an extra buck. But the global crackdown does reflect one of life’s two certainties — death and taxes — starting to catch up to our modern way of life.
Free Resource
Why coders pick Python
Python became a top language for beginner devs thanks to simple syntax and flex functionality. That’s also what makes it the most popular option for AI/ML specialists.
Learn about the language powering everything from websites to software to robots inside the beginner’s guide to Python.
Inside the free ebook:
Use cases across industries
Methods + functions glossary
Coding standards + best practices
Overview of advanced features
Links to tools and resources…
… like research publications and a browser-based code editor.
Boeing’s awful week shows no signs of recovery — United Airlines and Alaska Airlines both discovered loose parts during inspections of their Boeing 737 Max 9 jets. The inspections became necessary after an Alaska flight’s door plug blew out midascent last Friday. Until there’s better news, just assume Boeing’s stock price isn’t looking too pretty.
SNIPPETS
Meta will start restricting some harmful posts on teen Instagram and Facebook accounts. Content about eating disorders or self-harm will no longer be visible to users under 18; searches for those topics will direct teens to expert resources.
Getty Images partnered with Nvidia to launch Generative AI by iStock, a text-to-image stock photo platform for small and medium businesses. The service costs $14.99 for 100 prompts, with four AI-generated images per prompt.
New Year’s resolutions: X published a list of proposed platform updates for 2024, including AI-powered features, peer-to-peer payments, and increased investment in creators and content partnerships.
Parag Agrawal, the former Twitter CEO dismissed by Elon Musk, is back on the scene with a new AI startup that’s already raised $30m in funding. Details are sparse, but “software for LLM developers” is the starting point.
IBM wasn’t the top US company in patent filings last year, ending its 30+-year streak. Qualcomm edged out IBM to lead American firms, but nobody came close to topping Samsung’s ~6.2k patents.
Imax had its second-best year ever in 2023, raking in $1B+ and enjoying a 24.4% YoY increase in ticket sales, largely thanks to Oppenheimer.
Unity Software will lay off another 1.8k workers, or 25% of its remaining workforce, citing restructuring efforts. The video game engine company cut 265 jobs in November.
Well, actually: Magic: The Gathering and Dungeons and Dragons publisher Wizards of the Coast said it didn’t use AI in marketing imagery — except that the background was made with “some AI components.” The studio told creatives not to use AI in the future.
Don't miss this...
Is 2024 the year you finally launch a podcast? In this week’s Trends, My First Million producers dish out their secret sauce on building a chart-topping podcast.
Cookie Wars
The case of the missing cookie
Hydrox was the original chocolate sandwich cookie, predating Oreo. With a mildly sweet creme and a crunchier cookie that has a darker chocolate taste than its rival, Hydrox developed a reputation as the dessert of the discerning eater.
It was, per legendary food writer Calvin Trillin, the “far superior” cookie.
Yet Oreo’s dominance today is unparalleled, accounting for ~10% of all cookies purchased in the US. Nabisco, the maker of Oreo (and a subsidiary of Mondelez Inc.), commands ~40% of the cookie market.
Hydrox, meanwhile, was discontinued in 2003. It came back in 2015 thanks to Leaf Brands — a San Diego-based company that specializes in reheated nostalgia — which attempted to reintroduce Hydrox to America through deals with Kroger, Walmart.com, and smaller grocers.
Like most things, you can buy Hydrox on Amazon (in bulk), but not in a regular package at a grocery store.
Hydrox claims the culprit might be their longtime foe: Oreo. The two have been deadlocked in competition for 100+ years, and Nabisco has been accused of everything from threatening wholesalers in the early 20th century, to buying up grocery store shelves and elbowing out smaller companies today.
There are thousands of companies valued at $1B+. How many clues do you need to identify today’s billion-dollar brand?
Clue 1: In 1937, a young mechanic invented the first commercially successful snowmobile. Five years later, he founded this company (which isn’t primarily known today for selling snowmobiles).
Clue 2: Though it left the public transit game in 2021, its brand name is still visible to riders in cities like Berlin, Chicago, London, New York City, Mexico City, Singapore, and Toronto.
Clue 3: The rich, jet-setting type can’t get enough of this brand’s wares — it spun off its division behind the Sea-Doo and Ski-Doo into an independent company, but it remains one of the world’s leading producers of private aircraft.
👇 Scroll to the bottom for the answer 👇
Road race
Federal traffic control updates are getting the green light
The rules of the road are getting updated for the first time since 2009.
2024-01-10T00:00:00Z
Sara Friedman
You’ve surely heard the blaring voice that screams “wait” when you need to cross the street.
But what you might not know is that there’s a single manual in charge of making sure US traffic control devices are up to par.
The Manual on Uniform Traffic Control Devices for Streets and Highways, published by the Federal Highway Administration, is updated once every ~10 years to reflect changing tech and habits.
It’s also the reason you won’t drive off a cliff during your cross-country road trip: It keeps our road signs and signals uniform nationwide.
Now, perBloomberg, it’s getting its first update since 2009 to include things like:
Safety improvements for pedestrians or cyclists, such as flashing beacons at crosswalks and painted green bike lanes.
Introducing signage for EV charging stations.
Suggesting ways that cities can prepare roads for self-driving cars.
The updates reflect not only changing technology — with autonomous and electric vehicles having taken off since the last manual was published — but also rising concern over traffic accidents.
Safety first
Nearly 43k people died in US motor vehicle crashes in 2022, including 7.5k+ pedestrians.
Bike and pedestrian safety advocates have voiced concerns over the ways that federal traffic standards on speed limits prioritize cars, leaving those walking, biking, or using public transportation at risk.
To update the manual, the agency gathered input from traffic engineers as well as 100k+ public comments.
Now, the FHWA says it will update the manual more regularly as transportation tech evolves rapidly.
We leave you with the most Boston thing imaginable: a mystery crosswalk voice that drops the “r” in Vassar Street.
AROUND THE WEB
🚗 On this day: In 2008, the world’s cheapest car was introduced at the New Delhi Auto Expo in India. Tata’s tiny Nano retailed for ~$2.5k, selling an initial run of 100k to buyers selected by lottery.
🐌 That’s interesting: Why snails and slugs are so very slow.
🎧 Podcast: From Another Bite, partnership strategies to capture the right audience, plus how to attract niche Instagram communities and infiltrate Reddit.
Yesterday, we asked you what it’s like working with Gen Z.
And y’all came in hot. The majority — more than 55% — said Gen Zers are wreaking havoc in the workplace.
The most common complaints centered around two adjectives: “Entitled” came up in 48 responses and “lazy” 29 times. And some other words we cannot publish — as we said, you came in hot.
Overall, readers said Gen Zers show up late, wanting to do the least amount of work for the most amount of money, and believing they deserve it.
For the 10.6% who played devil’s advocate, this could actually be a good thing.
“They’re not scared to try new ideas, new tools, new processes. What they want — work-life balance — is something we should all have,” one reader wrote.
SHARE THE HUSTLE
Hey. Don’t keep us a secret.
Refer just 3 people and we'll send Hustle essentials as a thank you.
Today’s Fit The Bill answer is Bombardier (market cap: $4.07B)
Today's email was brought to you by Juliet Bennett Rylah and Sara Friedman. Editing by: Ben “Volunteer judge for any Oreo vs. Hydrox taste test” Berkley.