Escapism: Fiction books are flying off the shelves

3/16/23 8:00PM

**A little too real**‍

‍Bloomsbury, the book publisher behind the Harry Potter series, just raised its revenue expectations for its latest financial year to £260m, up from the previously expected £243m. That's some 40% higher than the company managed just 2 years ago.

Interestingly, it’s been fantasy fiction books that have helped drive much of the sales boost, with readers seeking to escape the everyday worries of the real world, as “people have had too much reality” according to Bloomsbury's CEO, Nigel Newton.

‍BookTok strikes again‍

‍TikTok, perhaps surprisingly, has also been an effective modern channel to attract bookworms. #BookTok is a hashtag that is self-described as “the biggest book club on the planet”. Enthusiastic readers share videos of book reviews, reactions and curated lists of recommendations, and the hashtag has even gained a staggering 112 billion views. It helped drive sales of series such as A Court of Thorns and Roses, which Hulu is adapting into a TV series, and took Colleen Hoover — who sold more than 14 million books last year — to the top of the 2022 bestseller list.

Hyunsoo Rim

appy birthday

4/1/26

Apple is turning 50 today and it doesn’t look a thing like its younger self

From Macs to iPods, iPhones, and now services, here’s how Apple’s business has looked every 10 years.

The entrance of Allbirds seen from Hayes St. in San Francisco, Calif.

Allbirds, the once buzzy multibillion-dollar sneaker startup, is selling up for $39 million

That’s less than 1% of its peak market cap about four years ago.

Tom Jones3/31/26

Max Knoblauch3/30/26

JetBlue is raising its bag fees as fuel costs squeeze airlines

JetBlue will reportedly hike its bag fees, as the cost of jet fuel continues to climb amid the war in Iran. It’s the latest example of carriers finding ways to push rising costs onto travelers.

Last week, United Airlines CEO Scott Kirby said that if fuel prices remain elevated, fares would need to rise another 20% for his airline to break even this year.

As CNBC reported, when one airline raises fees, others tend to follow.

Earlier this month, JetBlue hiked its first-quarter outlook for operating revenue per seat mile to between 5% and 7%, saying that strong Q1 demand helped “partially offset additional expenses realized from operational disruptions and rising fuel costs.” Now, the carrier appears to be making moves to further boost revenue to offset those costs.

Earlier on Monday, JetBlue rival Alaska Air lowered its Q1 profit forecast. The refining margins for the carrier’s cheapest fuel option — sourced from Singapore and representing about 20% of Alaska’s overall supply — have spiked 400% since February.

JetBlue did not immediately respond to a request for comment.