Hi everyone!
Hope you all had a lovely weekend. It was Soph’s birthday, and while blowing out her candles she made one very specific wish (cough, Emma Grede, if you’re reading this). The whole team made the most of the beautiful (and now slightly cooler) weather in London over the weekend.
This week we’re unpacking Samsonite’s $210 million buy of Shay Mitchell’s travel brand BÉIS, the fraud lawsuit against Selena Gomez over her startup Wondermind, and why Anthropic just filed for what could be the biggest tech IPO in history.
And on Wednesday, Emma joins us to talk all things Emma Grede, very timely given the excitement around her resharing our stories recently (IYKYK). Do you have the Emma Grede disease? We’re getting into it.
As always, we’ve read the finance news so you don’t have to.
Have a great week.
Soph, Vic & The Curve team x
Samsonite just bought 85% of BÉIS, Shay Mitchell’s travel bag brand, for $210 million. That’s roughly 1x last year’s sales, a bit of a steal. Mitchell keeps 15% and stays on as Head of Creative, so nothing changes on the ground.
Why does this matter?
A 116 year old suitcase brand can’t just launch a “cool girl” range and expect Gen Z to buy it. Easier (and faster) to buy the brand that’s already nailed it, same logic behind Facebook’s $1 billion Instagram buy in 2012, now estimated to be worth over $100 billion.
It’s also a sign of where influencer money is heading: less about follower count, more about authenticity and niche audiences. Take Riley Hemson and Jaz Hand, the Kiwi/Aussie bestie (iconic) duo Emirates recently flew to Europe. Rather than business class, Emirates put them in Premium Economy, a smarter play since it makes the experience feel aspirational but still reachable, not out of touch. US travel companies spent $1.5 billion on influencer marketing last year, so this isn’t a small trend.
Vic’s take: this space is genuinely booming, not just a post-COVID sugar rush.
Investors put $1.2 million into her mental health startup Wondermind. They were promised Gomez would be hands-on as head of marketing, that her co-founder had partnerships locked in at JPMorgan and Fidelity, and that ad deals and an app were already in motion. The lawsuit says none of it was true, and that for three years, while the company quietly fell apart, nobody said a word. Investors found out from an article released by The Cut, not the founders. Ouch.
Why does this matter?
A famous face is not due diligence. The question was never “do I believe in her,” it’s “what’s she actually contracted to do, and who’s running this thing day to day.” Worth comparing to Rare Beauty, which Gomez is genuinely all over and which is now worth $2 billion. Same person, completely different level of involvement.
Key takeaway: If you’re investing in a private company, get updates in writing. Silence for three years isn’t a good sign, it’s the whole problem.
Anthropic, the company behind your favourite AI bestie Claude, quietly filed paperwork in June to go public. Expected valuation: $965 billion to over $1 trillion. Its revenue went from $9 billion to $65 billion in six months. That’s 80x growth.
Why does this matter?
It’s still not profitable. That trillion dollar number is basically a bet on future revenue, not what it’s making today. Same “burn cash, grow fast, worry about margins later” model Amazon and Netflix used.
One thing to watch: Anthropic’s reportedly setting up supervoting shares so founders keep outsized control even after selling big chunks to investors. Same move Elon Musk pushed at Tesla. So you’re betting on a growth story you can’t fully verify yet, run by people who’ll keep the wheel no matter how much of the company you own.
The Ethical Hotline is your space to ask the things you’ve been wondering about ethical investing, where your money goes, and how to grow your wealth without ditching your values at the door.
Submit your question and we’ll take it to the Pathfinder team so you can get thoughtful answers from people who know this stuff inside out.
Space exploration seems an exciting & growing industry. I would love to invest in a space ETF, but space themes seem to be very tightly connected with defence, and therefore conflict. Is there a way to be involved in this industry without supporting the development of weapons & war? For context, I currently have a small amount invested with ARKX but not feeling entirely comfortable with that.
We’ve been chatting a lot lately about diamonds, lab grown versus natural, and whether it actually matters when it comes to engagement rings and jewellery in general. So we’ve put together a quick community survey to hear your honest thoughts: would you buy lab grown? Would you care if your ring was lab grown? Does spend equal love? Would you split the cost with a partner?
Answers are anonymous, and we might feature some in a future episode.
On Wednesday we’re back with Emma-Louise Boynton to discuss all things Emma Grede. But we’ll see you in your inbox again on Friday!
Have a great week.
Team Curve xx
No posts
Comments
Nothing yet. Say the first thing.
Sign in to join the conversation.