SXSW wins this week as it is once again a relevant conference for new digital companies to become hits. Live streaming applications Meerkat and Periscope (launched by Twitter) both stole the show at the Interactive portion. Meerkat grew from 500 users to 20,000 in a week, and has been growing 60% daily since. Scott Galloway predicts the death of newscast vans (filled with hair dryers and journalists) and the rise of live streaming apps.
Pinterest was a winner this week – defying Scott Galloway’s predictions. Pinterest’s valuation keeps growing and hit $11 billion this week. Yet L2’s original assessment of Pinterest stands: a great product without a monetization strategy.
Speaking of monetization, Snapchat is a model case. The company started developing products for brands early on, and is on track to becoming a Madison Avenue favorite.
World politics appears to be a bad choice for those who value money, unless they are planning to run for the presidential office in Singapore. Lee Hsien Loong collects an annual salary of $1.7 million vs. President Barack Obama’s relatively meager $400,000.
Chinese luxury consumers win and European luxury buyers lose as Chanel harmonizes its global prices on three signature bags. Scott Galloway is following the example of the luxury retailer (ranked 30th in L2’s Digital IQ Index: Fashion) and harmonizing his life. See full video for more and subscribe to L2’s YouTube channel.
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