Everybody hurts... even $1.4T Apple. On Monday, it revealed it doesn't expect to meet its 2nd quarter revenue forecasts — that's less than a month after posting its biggest quarterly profit. Ever. Coronavirus has slowed Apple's iPhone supply chain as factories shut across China. Plus, sales in China are already suffering as locals stay home instead of heading to work or shopping for new noise-cancelling AirPods.
Brand is everything... Ecommerce startup Brandless is shutting down after failing to build a brand without a brand. The Softbank-backed company tried to make products cheaper for consumers by saving on marketing costs, cutting out grocery stores, and deleting logos. But its no-frills, health-conscious go-to's ($3 organic cashew butter, cruelty-free moisturizer, etc) weren't able to compete in the crowded direct-to-consumer space where brand wins.