The Best One Yet

🧴 “Lather me in CeraVe” — Neutrogena’s skincare mistake. The NYT’s Wordle milestone. FTX’s perfect bankruptcy.

4 snips
May 9, 2024
Neutrogena loses top spot to CeraVe in skincare. NYT hits milestone with gaming & cooking subs. FTX announces perfect bankruptcy. NYC has most millionaires worldwide.
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ANECDOTE

NYC’s Millionaire Density

  • In NYC, 1 out of 24 people is a millionaire, meaning about 3 millionaires live on each city block.
  • On a subway car or restaurant, you likely encounter multiple millionaires without realizing it.
INSIGHT

How CeraVe Overtook Neutrogena

  • Neutrogena lost its top skincare spot by pulling back on advertising, R&D, and sales efforts at the wrong time.
  • CeraVe aggressively filled that void, including timely marketing on TikTok starting in 2020.
ADVICE

Don't Leave Voids for Competitors

  • In business, if you retreat or reduce efforts, competitors will quickly fill the void you leave.
  • Continuously invest in sales, marketing, and product development to maintain market leadership.
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