The Best One Yet
🥕 “$CART” — Instacart’s IPO surprise. SF’s cash for kindergartners. Car-workers’ 40% raise.
Sep 19, 2023
Instacart, a tech company IPO'ing with a profit, has pivoted from Silicon Valley to Madison Avenue. San Francisco's past initiative gave every Kindergartner a college savings account. The UAW auto workers strike demands a 40% raise. The podcast discusses these topics and more.
21:08
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Quick takeaways
- Instacart's shift towards advertising reflects a broader trend in tech companies, as others like Netflix, Uber, Lyft, and Amazon have also turned to advertising to boost profits.
- San Francisco's K to C program has not only helped kindergartners save an average of $1,422 but has also influenced their mindset towards pursuing higher education, leading to its widespread adoption in 38 states for a total of 5 million kids.
Deep dives
Instacart's Advertising Boom
Instacart, the grocery delivery app, is going public with a profit and boasts significant advertising revenue. Nearly 30% of Instacart's business comes from advertising, making it an ad agency with a logistics side hustle. While grocery sales have slowed, ad sales are booming, generating almost a billion dollars in revenue this year. Instacart's shift towards advertising reflects a broader trend in tech companies, as others like Netflix, Uber, Lyft, and Amazon have also turned to advertising to boost profits.
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