Hey hey Flux fam 👋

Here's everything you need to know today - in under 3 minutes.

Today's big stories: 

🛍 Stylerunner co-founders are launching a new shopping app

📱 Facebook's losing its midas touch with Gen Z

🌝 Jeff Bezos is launching a space station 

Oh and get this...

Well, that was a quick turn of events. Pinterest is gonna have to live, laugh, love somewhere else after PayPal revealed it was backing off from a potential acquisition of the social media company.

The co-founders of Stylerunner are launching a new digital coupon app so prep ya wallets

Background: Stylerunner started as an online activewear site back in 2012. It sold brands like Adidas, Asics, Nike, Alo Yoga...and its twin co-founders turned the company into a $50 million business.

What happened: In late 2019, Stylerunner fell into receivership due to a lack of cashflow (yikes)...but a few weeks later, they were saved by Accent Group, which owns sneaker stores Platypus, HypeDC, Vans, Timberland and more.  

What else: Now, the OG founders of Stylerunner have dusted themselves off and are ready to try again with a new digital coupon app called Her Black Book. It's designed for Gen Z and millennials who want to shop, but want a bargain too. So...everyone.

So what's the key learning?

💡Despite millennials valuing a brand's sustainability and authenticity highly...80% of millennials are still influenced by price. 

💡On top of that, more than half of millennials use their phones to search for a coupon or discount code while shopping in store. Nothin' beats a bargain, hey?

💡Global discount code redemption is expected to surpass a huge US$90 billion by the end of 2022. So this could be the right time for something big.

Facebook is officially a boomer's paradise as under 30s leave in droves

Background: Facebook is the massive social media platform founded by Mark Zuckerberg (aka Robot Zuck). And in its third-quarter earning report, there were some pretty concerning signs.

What happened: The report revealed monthly active users rose just 6%. This is veeery low for Facebook. Its revenue also climbed by a weaker-than-expected 35% due to Apple's new privacy rules.

What else: Recent leaks from within Facebook show that it has been losing its under-30s user-base. And, even Instagram's growth among younger users has reportedly hit its peak. Sound the alarm. 

So what's the key learning?

💡Facebook is the master of turning a whole other app into a feature within its own app.

• Like ripping off their Stories feature from Snapchat
• Like ripping of their Reels feature from TikTok

💡They do this because popular features often attract more eyeballs. And advertisers flock to the platforms where there are the most eyeballs. But internal Facebook documents show teenage users of the app are projected to dip a further 45% over the next two years, thanks to new apps like TikTok.

💡If Facebook loses its young audience, advertisers will have no choice but to seek other platforms for their ad campaigns. 

Jeffy B wants to build a space station called the 'Orbital Reef' and DW about our reefs on earth

Background: Jeff Bezos is one of the world's richest men thanks to Amazon. But he also founded another company, Blue Origin, all the way back in 2000.

What happened: Blue Origin is Jeffy B's private aerospace manufacturer and spaceflight services company. Try saying that 10 times. Blue Origin's goal is to help humanity expand and explore new energy sources. Some real Interstellar stuff.

What else: Blue Origin has revealed plans to launch a space station in the second-half of the decade. It will be called 'Orbital Reef', and be used as a business park in space.

So what's the key learning?

💡The commercialisation of space is well and truly here, folks.

💡Historically, we've only really ever operated within the:

• Space-for-earth economy (aka goods or services produced in space for uses on earth... like satellites).
• Space-for-space economy (aka making goods in space for use in space).

💡But now, thanks to Elon Musk's SpaceX, we could be sending large numbers of private travellers into space...and with Blue Origin, we could be about to build and operate space infrastructure in space. So we could be entering the earth-for-space economy.