Osama Bin Laden toys

+ The trending $32B industry

June 12, 2024

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OVERWORLD:
-Pearls are so back: A projected $32B industry-

ONE BETWEEN:
-Finally, Apple does AI-

THE DEPTHS:
-When the CIA made Osama Bin Laden toys-

"The best way to teach your kids about taxes is by eating 30 percent of their ice cream."
— Bill Murray

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✦DISCOVERY PICKS✦

Old, but not gold

Pearls are so back: A projected $32B industry

Don’t clown your mother for wearing pearls, she’s the trendiest bitch at the tea party.

Yes, in the latest episode of Gen Z realizing that traditional is cool - pearls are experiencing a renaissance.

Slowly, after 10 years, pearls are now a chic youth symbol. Thanks to pop culture and high fashion, they went from country-club style to cool.

Some numbers:

Growing, fast: The global pearl jewelry market was valued at $3.7B in 2014. By 2023, it reached US $11.8B . The market is projected to reach $31.9B by 2032.

Second-hand demand: In 2023, Q3 to Q4, searches for pearls (+115%) seriously outpaced diamonds (+50%) on second-hand market TheRealReal.

Prices are flying: In Japan, Akoya pearl production has dropped by +80% in the last 30 years — it’s a century old practice, and youth would rather do something else. So, the prices of Japanese pearls rose by 67% due to reduced supply​.

Strong asian market: Chinese buyers are willing to pay premium prices. This has created competition and increased prices globally. Act strong that many pearls are sold within China before they even reach international markets.

✦Who wears pearls?✦

In the early 10s, rocking pearls was an ironic move. For example, in 2012 Rihanna’s vintage pearl choker made headlines. It looked old, ‘cause it was old — which was funny.

 

Compare that to 2024; plenty of fashion labels are presenting pearls in a plain, modern, and cool way. No need for vintage silliness.

Simone Rocha clogs + Comme des Garçons X Mikimoto

Pearls’ new cool has also extended to men.

Men’s pearls by Tasaki, a top-tier 70-year-old Japanese pearl house.

ASAP Rocky in a pearl balaclava.

✦Challenges✦

Pearls are primarily farmed from oysters in the Asia-Pacific. But since the pandemic, this region’s pearl industry has been kinda fucked.

Australia: Travel restrictions severely impacted Aussie pearl farming, which relies heavily on international technicians and markets. Paspaley Pearling had to negotiate travel concessions at government levels and develop an online wholesale platform to continue operations.

China: The world's largest pearl producer has seen a decline in overall production after stringent environmental regulations. However, these changes have led to improved quality and sustainable practices.

Japan: The birthplace of cultured pearls, the pandemic initially caused disruptions in auctions and local demand. Still, the market has rebounded strongly, with online sales in China driving demand for certified pearls.

Still better: Despite this, the pearl industry has emerged stronger, with businesses becoming more agile and innovative. As Gen-Z becomes a growing segment, the industry comes to them by digital transformation.

THE KING NEEDS YOU

Human, you are a mere . Do you not seek grander ventures? A greater title? Honor? Take up arms, and help me expand my kingdom!

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Refer a friend with this link.
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✦QUICK HITS✦

✦Business & Tech

The EU plans to increase tariffs on Chinese EVs from 10% to potentially 25-30% starting July 4. Analysts predict rates could rise to 30-50%. Chinese manufacturers are expanding in Europe despite these changes, with BYD building a factory in Hungary and Nio opening a showroom in Amsterdam.

Holy heck: Shares of Raspberry Pi rose 31% on Tuesday, aiming to raise £166 million ($211.2 million) from its IPO. The offering includes 45.9 million shares from the majority shareholder and 11.23 million new shares.

Elon Musk threatened to ban Apple devices from his companies after Apple's partnership with OpenAI. Musk criticized Apple's AI integration, calling it a security risk. Apple claims the integration is optional and secure.

The U.S. added 500,000 new millionaires in 2023, reaching 7.43 million, with combined fortunes of $26.1 trillion. Ultra-high net-worth individuals' wealth grew fastest, driven by market rebounds and government spending.

✦Fashion & Culture✦

Drake’s big pants are Vava. But what’s Vava? Over the weekend, Drake went viral on Instagram for his pants. They’re big, ugly and they’re Vava. Vava stands for “Virgil Abloh Vision Always,” and is Drake’s brand which remains exclusive to Drake and his circle. Speculations continue about the designer, with many believing PDF founder Domenico Formichetti is involved.

Rest easy, king: Entrepreneur Gilles Elalouf, cofounder of Y/Project, died at 58 after a long illness. He founded the label in 2010 and was president of the board.

Peter Do's fourth collection for Helmut Lang, Resort 2025, is pretty good. It emphasizes versatile casualwear, including terry sweats, cloud jersey pieces, and a signature tank dress. Do's focus is on easy-care luxury and practical, comfortable styles for New York's bipolar weather.

"Bad Boys: Ride or Die" had a successful $56 million domestic opening, becoming Will Smith's first major hit since the Oscars incident. Surpassing projections, it marked the biggest R-rated opening since "Oppenheimer," earning $104.6 million internationally.

✦Hmm… Interesting✦

Cozy 1-minute-read for developers: Ship something every day

Big read for big brains: Inside Mexico’s anti-avocado militias

Watch: The rarest move in chess

Great 26-page paper: Mexican Computers: A Brief Technical and Historical Overview

ONE 

BETWEEN

Here we go

Finally, Apple does AI

Okay, it's time.

Since this whole AI thing started popping off every tech leader has been flashing their AI cocks.

Everybody but Apple. Naturally, there has been a lot of speculation about how Apple will lose the AI race. Especially since the closest thing they have to a chatbot is Siri, which... you know.

All of that changed yesterday. Apple announced "Apple Intelligence" at WWDC 2024. We got introduced to a suite of new AI features for the iPhone, Mac, and more.

Here are 3 of the goods announced:

  1. Better Siri with OpenAI Integration:

She talks better: Siri will become more conversational, with a rainbow ring around the edge of your screen to indicate its activity. It will understand context and take actions using content from various apps.

She’s kinda smart: Siri can carry out automatically write and summarize text, and change the tone of writing based on prompts.

She’s GPT-4o: Siri will use GPT-4o when unable to handle user requests, asking for permission before sending any data to ChatGPT. Siri will then present the AI-generated responses.

  1. Genmoji — we now have infinite emojis for every situation:

AI-generated emojis: Create custom emoji-like reactions with AI when standard emojis don't suffice.

 

  1. Photos App is now on crack:

Improved search: Enhanced object recognition for more precise searches, like identifying people performing specific actions.

When, where, and how: These features will be available on the iPhone 15 Pro, 15 Pro Max, and devices with M1 or later chips, initially for English language users. The rollout begins this fall with iOS 18, iPadOS 18, and macOS Sequoia.

THE DEPTHS

Collectibles

When the CIA made Osama Bin Laden toys

In 2014, it was revealed that the CIA had considered an funky ass plan to counter Osama bin Laden's influence: developing an action figure designed to frighten children and their parents.

The project, code-named "Devil Eyes," began around 2005. The concept involved creating a bin Laden action figure with a heat-sensitive face that would transform into a demonic visage, complete with red skin, green eyes, and black markings.

The CIA enlisted Donald Levine, a former Hasbro executive known for his role in creating G.I. Joe, to design the figure. Levine's extensive experience in the toy industry and his network in China made him an ideal partner for this covert project.

The prototypes were developed in China, where Levine had long-standing business connections. Despite Levine's enthusiasm and the creation of at least three prototypes, the CIA ultimately decided not to pursue the project further.

Actually, the idea was rejected before mass production, and only three prototypes were ever made. The CIA did claim that they did not distribute any of these action figures and had no knowledge of others doing so. However, a source with direct knowledge of the project claimed that hundreds of the toys were produced and shipped to Karachi, Pakistan, in 2006.

Worl’ boss.