☕McDonald's 'Bold' New Business

Welcome to the Thursday Newsletter, where we cover top industry news stories to keep you in the know.

Good morning. Just in time for the holidays, the US economy has given the gift of travel as gas prices hit the lowest point of the year. As of Tuesday, the average cost per gallon hit $3.14, down 19% from September. Many of us drive multiple hours to see family for the holidays, so to continue saving big on gas prices, use these simple tips:

• Use gas price apps like GasBuddy and Gas Guru to find the lowest prices on your trip.

• Sign up for rewards cards so next time you get fooled by Circle K’s member discount on the gas sign, you can take advantage.

• Use cash back credit cards.

• Pay in cash, as some gas stations give as much as 10 cent discounts for cash paying customers.

• Fill up at member clubs like Sam’s Club or Costco.

_{-Bailey Hepler}

POP

TIME’s 2023 Person of the Year: Taylor Swift

TIME announced Taylor Swift 2023 Person of the Year, a testament to her extraordinary impact both as an artist and a cultural icon.

2023 marked a significant shift in Swift's influence. Her actions and movements became topics of global conversation, akin to discussing politics or the weather. Her Eras Tour, a retrospective of her career, is projected to become the biggest tour of all time, with a projected gross over a billion dollars. This "Taylor effect" has had wide-reaching impacts, from economic booms in cities she visits to her concert movie setting record ticket sales for AMC.

Swift's narrative is one of redemption and resilience, having navigated the highs and lows of public opinion over two decades. Now, at 33, she's experiencing what she describes as the "breakthrough moment" of her career, equipped with the mental toughness to handle the accompanying challenges. Her achievements span across various domains: as a pop star, she's in the league of Elvis Presley and Michael Jackson; as a songwriter, she's compared to legends like Bob Dylan; and as a businesswoman, she's built an empire worth over $1 billion.

Swift's influence extends beyond music and entertainment. Her work is now a subject of academic study, with courses devoted to her at prestigious institutions like Harvard. Her ability to navigate fame, artistry, and business with unparalleled skill and grace has not only made her an icon of her generation but also a figure of inspiration and study across various fields.

BUSINESS

McDonald's ‘Bold’ New Coffee Concept: CosMc’s

In a bold move to revolutionize the fast-food coffee market, McDonald's has launched its experimental coffee drive-through concept, CosMcs. I know what you’re thinking… what about McCafe? The stark departure from the traditional coffee shop ambiance represents the shift in today’s target market and cold-drink culture.

Target Market:

This new venture, debuting in Bolingbrook, Illinois, is designed to cater to the evolving tastes of younger generations, particularly Gen Z and Gen Alpha. Unlike traditional McDonald's outlets, CosMcs is drive-through only and focuses on "bold and unexpected flavor combinations," offering a range of specialty lemonades, cold coffee concoctions, and signature slushes. With plans to open around 10 pilot locations in the U.S. by the end of 2024, CosMcs enters a competitive market dominated by giants like Starbucks and Dunkin'.

How will CosMc’s differentiate?

In short, fast service and a playful, customizable experience. The menu is tailored to younger consumers' preferences for cold beverages, featuring a limited selection of hot drinks and a strong emphasis on iced coffees and youth-centric cold drinks. This strategy aligns with the growing trend of "drinktok" on TikTok, where users share and popularize unique beverage creations. The CosMcs menu boasts options for personalization, including popping boba, flavor syrups, and energy or vitamin C shots, appealing to the desire for individualized and indulgent experiences.

TECH

Google's Gemini AI: Revolutionizing Internal Search and AI Chatbots

Google's latest AI model, Gemini, is set to transform how companies manage internal data and customer interactions.

What is Gemini?

Integrated into Google's Vertex AI, a tool for fine-tuning AI models, Gemini offers businesses the capability to create their own internal search engines and conversational AI chatbots without the need for coding. Described as "Google quality search" for company data by Thomas Kurian, CEO of Google Cloud, Gemini allows users to query their company's internal information, including documents, enterprise applications, and websites, using plain English.

Gemini is more than search-based.

The Gemini-Vertex AI integration extends beyond search. It enables the creation of internal AI chatbots that can assist in various tasks, such as training new call center agents with AI-generated scripts. This feature is particularly beneficial for product managers and customer service teams, allowing them to build these tools without developer expertise. Additionally, Google has introduced other capabilities like Imagen 2, which offers text-to-image functions for creating logos and image captions in multiple languages, and Duet AI, an AI collaborator in Google Workspace that aids in coding, task streamlining, and troubleshooting.