Aug 20, 2024 · 26 min · 11 segments
Why did one hiring decision send Starbucks’s stock way up — and Chipotle’s down? On this week’s TLDR, why the market believes the once-burrito, now-coffee CEO Brian Niccol has the magic touch. Plus…
Kyla ScanlonGuest
Sarah RiegerHost
So dating apps are not only losing a lot of money, but they're also losing a lot of customers.
The Economist published this devastating chart showing the decline of downloads of dating apps.
Yeah, I mean, dating apps are one of those things that's like social media where forever it felt like people were both love to complain about it and were also totally addicted to it.
So I think with any conversation, it's important to start from the beginning to understand what's happening now.
But Match was one of the first movers taking advantage of the rise of the World Wide Web and the proliferation of people waiting later to marry.
And during the early 2010s, dating apps became extremely popular because now, you know, everybody had a smartphone.
New competitors started cropping up and Match decided rather than competing, they would just buy everybody.
And this began the reign of what I like to call Match Group Mafia because they're ruthless.
And acquisition, you know, they own Hinge, they own Tinder, they own Match.com, Plenty of Fish.
They're like one of these tech companies that's like, our business plan is to buy the competition.
And Tinder, which launched in 2012 and Match purchased in 2018 for $3 billion, was a big part of that growth.
Rather than being online where you're basically emailing back and forth, you're texting somebody and you're also swiping.
So dating apps are not only losing a lot of money, but they're also losing a lot of customers.
The Economist published this devastating chart showing the decline of downloads of dating apps.
Yeah, I mean, dating apps are one of those things that's like social media where forever it felt like people were both love to complain about it and were also totally addicted to it.
So I think with any conversation, it's important to start from the beginning to understand what's happening now.
But Match was one of the first movers taking advantage of the rise of the World Wide Web and the proliferation of people waiting later to marry.
And during the early 2010s, dating apps became extremely popular because now, you know, everybody had a smartphone.
New competitors started cropping up and Match decided rather than competing, they would just buy everybody.
And this began the reign of what I like to call Match Group Mafia because they're ruthless.
And acquisition, you know, they own Hinge, they own Tinder, they own Match.com, Plenty of Fish.
They're like one of these tech companies that's like, our business plan is to buy the competition.
And Tinder, which launched in 2012 and Match purchased in 2018 for $3 billion, was a big part of that growth.
Rather than being online where you're basically emailing back and forth, you're texting somebody and you're also swiping.
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