Yo-Yo: Weight Watchers is shedding subscribers

3/7/23 7:00PM

WW International, the brand more commonly known as Weight Watchers, announced this week that it's set to acquire subscription service Sequence for $106m. The startup helps subscribers organize telehealth appointments with doctors that can prescribe weight-loss drugs like Ozempic and Wegovy.‍

The yo-yo business

‍The yo-yo effect in dieting is well documented. People who lose weight quickly often find it easy to put the weight back on which, poetically, is the inverse of Weight Watchers' business. Every year the company quickly adds hundreds of thousands of newly health-conscious subscribers to its weight loss program in the first quarter (new year, new me etc.). Then, in the coming months, the company slowly sheds subscribers who presumably meet, or give up on, their health goals.

Recently, the “jumps” in Q1 have gotten smaller, and the “drops” have gotten larger, sending the company’s subscriber base into reverse. A rebrand to WW, in a bid to position the company as a more holistic “wellness” company rather than one solely focused on weight, has ultimately failed to stop the decline — WW's share price has dropped 90% in the last 5 years.

Spending $106m on Sequence is a bigger strategy shift than the rebrand, giving WW subscribers easier access to weight-loss drugs that are exploding in popularity. Prescriptions for Wegovy were 732% higher in January and February than during the same months last year – a trend that WW is clearly expecting to continue.

Max Knoblauch23h

Paramount reportedly offers concessions to resolve multistate antitrust investigation

Paramount has reportedly offered up some concessions in an effort to prevent an antitrust lawsuit by California and about 10 other states, according to Bloomberg reporting on Monday.

Reuters first reported on the potential suit from a group of unnamed states last week, which could throw a wrench in Paramount’s plans to buy rival Warner Bros. Discovery in a Hollywood megamerger.

The list of concessions is unknown, though Bloomberg previously reported that Paramount is open to divesting some of its kids TV assets to appease EU regulators.

Late last month, reports said US regulators appeared likely to approve the $110 billion merger, following a meeting between Paramount CEO David Ellison and DOJ antitrust staffers.

Paramount Offers Concessions to Head Off State Antitrust Lawsuit

The list of concessions is unknown, though Bloomberg previously reported that Paramount is open to divesting some of its kids TV assets to appease EU regulators.

Late last month, reports said US regulators appeared likely to approve the $110 billion merger, following a meeting between Paramount CEO David Ellison and DOJ antitrust staffers.

$98B ⛽

Max Knoblauch6/8/26

The IATA released its latest financial outlook for the airline industry over the weekend, forecasting a $98 billion jump in the sector’s collective fuel bill. The world’s largest trade group representing airlines expects the oil spike to halve profits by 49% from last year to $23 billion.

The group also expects profit margins to halve year over year, falling from 2025’s 4.2% to 2%. Still, revenue is expected to climb to $1.17 trillion from $1.07 trillion.

A surge in the cost of jet fuel has rocked US and global airlines this year, leading Delta Air Lines, United Airlines, American Airlines, Southwest Airlines, JetBlue, and others to raise fares and ancillary charges like bag fees. Low-cost carriers, which operate on smaller margins, have been squeezed the hardest, resulting in Spirit’s shutdown.

“It’s a tough year for all airlines, especially those whose balance sheets had not yet recovered from COVID. And, of course, for those operating in the Gulf,” said IATA Director General Willie Walsh, who added that demand is holding up and about half of passengers expect to spend more on travel this year. “That bodes well for a strong northern summer peak season. The big unknown is how long travelers and shippers can tolerate the higher costs of connectivity.”

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GM has reportedly rehired more than 100 former Cruise employees, 18 months after shuttering the robotaxi unit

GM has rehired more than 100 employees it let go early last year when it shuttered Cruise, its former robotaxi business, according to reporting by The Information.

The hiring spree, which also includes employees from Nvidia and Uber, is geared toward ramping up GM’s plans for personal-use self-driving vehicles and not robotaxis. The former had been the focus of Cruise, prior to GM shuttering it in 2024.

Reporting last fall revealed that GM was attempting to rehire some former Cruise employees, but the scope of that effort wasn’t clear. More than 1,000 employees were laid off when the automaker scrapped Cruise, which it invested $10 billion into.

Google’s Waymo, Cruise’s former chief rival, is now worth $126 billion after a $16 billion funding round earlier this year. The company says it’s serving 500,000 paid robotaxi rides per week in the US.

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vsxy

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How Victoria’s Secret finally managed to get its sexy back

After years of struggle, Victoria’s Secret shares have been hitting new highs this week.

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