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📠“The business of mail” — USPS’ $6.5B surprise. Amazon’s 1st car sale. TikTok’s TV show.
Nov 17, 2023
USPS reveals a $6.5B loss, Amazon starts selling cars with Hyundai, and TikTok becomes a TV platform with a show from the creator of "Anchorman".
22:23
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Quick takeaways
- Despite its financial struggles, the US Postal Service serves as a vital public service, providing essential services in all zip codes across the country.
- Amazon's partnership with Hyundai to sell cars highlights the company's strategy of expanding beyond e-commerce by integrating its technologies in various aspects of customers' lives.
Deep dives
US Postal Service Reports $6.5 Billion Loss
The US Postal Service announced a loss of $6.5 billion this year due to declining mail volume, with total mail shipped falling by 9% and first-class mail by 6%. Despite its financial struggles, the Postal Service serves as a public service rather than a profit-driven business, providing essential services in all zip codes across the country. While efforts to find ways to reduce waste and improve efficiency continue, it is crucial to recognize the importance of the Postal Service as a public institution.
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