ResearchThree Things (9/6)

Three Things (9/6)

Sep 6, 2023

“Ideas are commodity. Execution of them is not.” — Michael Dell, chairman and CEO of Dell 

Weight-loss drug frenzy

Shares of Danish drugmaker Novo Nordisk reached a record high over the past week as it competes with LVMH for the title of Europe's most valuable company, driven by strong sales of its weight loss drugs. Novo announced this week that Wegovy, its new drug, was being made available in Britain in limited supply. 

Though marketed as a diabetes drug, it has also been increasingly popular for cosmetic purposes. Companies like Novo are struggling to keep up with booming demand amid limited supply. With projections indicating that the weight-loss drug market could reach an annual worth of $130-140 billion, it’s shaping up to be one of the most lucrative areas in the history of the pharmaceutical industry. (Financial Times)

Spotify's billion-dollar bet

Spotify invested over $1 billion to establish itself as the dominant player in the podcasting industry, securing deals with high-profile figures like Kim Kardashian and the Obamas. Spotify's CEO, Daniel Ek, envisions the company as a leading audio platform, not just for music but also for audiobooks, education, sports, and news, with a revenue target of $100 billion by 2030.

However, the bet is yet to pay off. As the podcasting and audio market continues to grow, competition for first place from rivals like Amazon and Apple is only heating up. (WSJ)

App downloads on the decline

Despite overall growth in app revenue, U.S. App Store downloads are declining due to fierce competition. The Mobile Download Index, which monitors app installations, has fallen by 9% over the last year. 

While some sectors like sports streaming, medical, and business apps are still expanding, others such as news, games, and entertainment have suffered significant double-digit declines. In a crowded marketplace, the trend demonstrates the growing challenges for app developers to stand out, and capture and retain user interest. (TechCrunch)

As of writing this newsletter, AMZN and AAPL are holdings in Titan Flagship. 

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