Cameron Diaz wine launch, Mark Cuban investment in Cloud Paper, Walmart and Oracle taking ownership of TikTok and more industry news

Right About Now - Legendary Business Advice

The latest business and marketing news that you need to know about!

In this episode on THE RADCAST, host Ryan Alford and producer Reiley Clark, walk us through some of the biggest headlines in the business and marketing world this week:

  • Cameron Diaz's red wine launch set for October 2020. (Sign us up!)
  • Mark Cuban, Marc Benioff, Robert Downey Jr., Gwyneth Paltrow, and Uber CEO, invest in Cloud Paper, a bamboo based alternative to toilet paper? How interesting...
  • Walmart and Oracle taking partial ownership of Tik Tok... what does this mean for their eCommerce strategy? Ryan and Reiley break it down for us!
  • Mailchimp is bringing artificial intelligence to small business. Are they behind in the technology space?
  •  

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    2020-09-25 21 min Transcript

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    Transcript

     If you're listening to the latest Radcast News Update, here's Ryan and Riley.
     Hey guys, what's up?
     Welcome to the latest edition of the Radcast.
     It is our weekly, bi-weekly.
     When we can get to it, you know, we do run a business round here in Riley.
     And our guests come first, but it is our weekly news update for the week of September 21st.
     Today, actually being September 24th, just the date, the episode, a bit.
     Absolutely.
     And then tomorrow, it will release September 25th.
     That's right.
     So good to be on back with you here.
     I like having you on.
     Thanks.
     I have someone to sound bored, and I don't have to hear myself talk too much.
     Right, yeah.
     I can talk too.
     Exactly.
     Yeah.
     I know we've got some news to get to, but I guess first, let's start.
     You know, we'll recap a little bit today.
     We're in the middle of our e-commerce series, which has been going really good.
     Congratulations on the guests.
     We've had some really good guests.
     You want to recap some of those people?
     I would love to.
     So the future digital commerce series, we are four episodes in.
     We started out with Robbie Fitzwater.
     He gave us some really good insight in the beginning, kind of teeing off some big trends that are coming up holiday-wise.
     Then we had Sean Whalen, the CEO and founder of Wine's Not Sheep.
     I know you love that one.
     Well, I love Sean, and I love the brand.
     And so it was a guilty pleasure, and someone that I follow.
     Don't agree with everything politically, but I agree a ton with his kind of approach to life and really admire how he's turned things around, and he lives his truth.
     You can't fault him for that.
     You have to respect that.
     Absolutely.
     We had another guest that came out on Tuesday, that episode, Jordan Schindler, the CEO and founder of New Fabrics, which first of all, that was an amazing episode.
     Very insightful, very revolutionary technology.
     It's going to be awesome to keep following up with that.
     We talked about this on the episode.
     It hit every part of radical.
     Exactly.
     Radical growth for him with his business, but the products, are you kidding me?
     I can wear a shirt and get rid of my back pain.
     Exactly.
     I know there's been like these patches and things, but the thought that a full garment in certain areas can absorb and release those medicines for lack of better words.
     The opportunities are endless, but it was just really, really cool to talk to him about it.
     I agree.
     In the part about the military eventual equipment, that's going to be a very interesting thing to follow back up on.
     I can see it now.
     This is like bionic men.
     You're not going to do this.
     I'm going to assume you don't, because I was thinking, the bionic man when I grew up was Lee Majors.
     You're right.
     I don't know.
     It was an awesome 80s show.
     Oh, yeah.
     My name is starting late 70s when I was baby-ish, but I think it was mid 80s, the bionic man, Lee Majors.
     Anyway, he could run super fast.
     He was bionic.
     In his things, super cheesy, super over the top.
     All I can think about when he was talking about the military, I'm like, these guys are going to have clothes on that release some endorphins or something.
     Oh, yeah.
     Turn them into animals.
     I'm about to go put on something when I go work out for my sore legs.
     Think about it.
     You probably could be like caffeine.
     I'm going to put my caffeine shirt on and have some energy.
     I don't have to drink it.
     I mean, hey, healthwear.
     I love it, Jordan.
     Our next guest that will come out on Tuesday at noon is Sanjay Jenkins.
     He's the director of e-commerce buff city soap.
     And that is, I, first of all, love the concept of since first taking care of your skin.
     I'm very skin-conscious.
     So that kind of product, I'm very excited to keep spreading it.
     Nicole and I, my wife Nicole and I are sent people.
     We have candles.
     She's definitely me.
     She's got candles everywhere.
     We were joking on this other night.
     Oh, yeah.
     And so we're sent people.
     And so he had me, it smells good.
     I was like, check.
     Okay.
     I actually have a cart started that I didn't finish because I got busy doing something else.
     But I'm definitely ordering some of that soap.
     And he said he was going to send some detergents to Sanjay.
     If you're listening, you better send that soap.
     Yeah.
     Exactly.
     Exactly.
     And then I'm very excited for another guest we have lined up.
     The following week, Kallilla Wright.
     She's the CEO and founder of messin' a bottle.
     A revolutionary way of just like wearing your message on a t-shirt.
     Another clothing company.
     Super cool stuff.
     Really cool.
     You know, I actually was thinking about this before you found her.
     I was not aware of this brand or Kallilla.
     And I was like, everybody's got a t-shirt company now.
     How are people differentiating?
     You know, everybody's kind of writing these cool sayings.
     And then sure enough, you send this on like, that is different.
     That is cool.
     And a reusable bottle.
     Reuse a bottle.
     You know, just the messages felt fresh too.
     I was thirsty.
     You know, it was like, I felt like I'd seen every t-shirt message
     and I said, these are actually pretty good.
     You're like, actually, I've never seen these.
     I don't know.
     I'm sure they probably have a writing team at this point.
     We're going to find that out next week.
     I was about to say.
     But really cool and really looking forward to that.
     Oh yeah.
     All right, let's get in the heart and the news here.
     So we'll start out.
     Our idea is, founded Avaline Wines, co-founded with Catherine Power.
     They started out to do clean wines.
     And then they are launching a new red wine that is coming out next month.
     They started their white wines in July 2020.
     And then now they're having a red wine launch.
     But I like the idea of this being a clean concept.
     No added anything else.
     Yeah.
     Super clean.
     What are your thoughts about her investing in that?
     I think it's cool.
     I'm a wine guy.
     I collect wine.
     I know wine.
     Austin, if you're listening, I love you.
     Austin Hope.
     We've had on the episode, one of the fastest growing wineries in the world
     and in California.
     Yes, commercial for Austin.
     But there's a lot of celebrities getting into alcohol now.
     You get the rock doing tequila.
     You got, was it Ryan Reynolds doing gin?
     Yeah.
     And so now wine makes sense.
     And I like seeing celebrities, you know, transition into business and different things.
     So it's cool seeing them use their celebrity in their platform, especially clean.
     I'm assuming that's probably some lack of soul fights.
     I don't know everything about the wine, but I think it's great.
     But, you know, how it will differentiate in the market comes down to taste and, you know,
     kind of getting the word out.
     So be interesting, you know, where it lands and all of those things.
     Exactly.
     Having her, you know, her name attached to it helps a lot.
     Absolutely.
     I'm always a little cynical with the celebrity drinks until I, you know, try them.
     You know, but I imagine, I think there are people are figuring out now in what I call
     the aware society because of social media and reviews and everything else.
     You can't really have a shit product anymore and get away with it.
     Absolutely.
     If you put your name behind it, you know, there's such a feedback loop that's out there that I think, you know,
     most of these guys are doing their homework.
     And it sounds like Cameron Diaz is that I respect her.
     I've always thought she was cool and, you know, had her shit together.
     Oh, yeah.
     Yeah, I definitely think there's a point about having your following.
     You have your, you have accountability whether you wanted or not.
     Your fans are going to let you know actually did not like this.
     But I'm a red wine girl.
     So I'm very excited about next month.
     I'm going to be looking for that for sure.
     So we'll see.
     It'd be cool to follow, you know, where it goes.
     Maybe we'll do a follow up and have a glass or something.
     Oh, yeah.
     Check.
     Yeah.
     Radicals getting it, right?
     Yes.
     I love this next one.
     I'm a big environmental person.
     So this one was awesome to me.
     Bamboo based toilet paper.
     And investors are so many celebrities.
     Mark Cuban, Gwyneth Paltrow, Robert Downey Jr., the CEO of Uber.
     I mean, they're all getting behind this.
     But what do you think about the price of it?
     It originally started as B2B.
     Now they're starting to get into B2C.
     But $28 for $24 pack roll pack.
     This came across my Twitter feed.
     You know, you brought it up in our news records.
     And I saw it in my Twitter feed.
     And you know, it started wrecking my brain.
     I saw the $24 rolls for $28 bucks.
     And I was going in.
     We share a lot of the common duties, but my wife does buy.
     Right, right.
     The toilet paper or some of the more grocery things.
     I don't want it to be like, well, my wife does the shopping.
     You know, she does a lot of it.
     But I felt expensive at first.
     I don't know.
     I was like using my Costco brand like we'll go.
     And I'm like, how should we pay for that giant bag of toilet paper?
     I don't know.
     It seems a little pricey seems a little gimmicky.
     The more I read and studied and what I've heard about bamboo, you know,
     that sometimes it takes more bamboo than the wood wood is about wood wood.
     How much wood would we need?
     How much wood is how much bamboo wood bamboo is necessary?
     You know, what does it take to process all that wood?
     Right.
     All that bamboo.
     So, you know, it feels a little gimmicky, but big names behind it will be interesting.
     And then that price point kind of got me.
     But then I read that somebody said, well, that's about what average toilet paper is.
     I don't know.
     Is that same high?
     It seemed a little high to me for 24 rolls.
     But at the same time, I'm the kind of person where I think bamboo is a little bit more renewable
     than just regular wood.
     In the sense, I think it takes less time to grow bamboo than it does to grow.
     And deforestation purposes.
     Having grown up in South Carolina and a quick detour here because we had bamboo
     will get on your nerves when you don't want it.
     That stuff will grow.
     But that's what I'm saying.
     We would chop that stuff down and it'd get everywhere.
     It was like my grandmother's house.
     We'd go over there and sort of reason she had a bamboo farm.
     I should have started a toilet paper company because she had like four acres of bamboo.
     You missed your calling.
     But it's a nuisance if you don't want it.
     Because it starts, it just never goes away.
     So it obviously grows quicker.
     I can compile us to that because we would knock that stuff down.
     That's where like, you know, three months later, there'd be 20-foot tall bamboo shoots.
     So is it really that bad of a concept then?
     I don't know.
     Look, I'm cynical that if this is truly, if this is truly helping the environment,
     sign me up.
     Right.
     Great.
     I'm all for that.
     I'm cynical sometimes of whether or not when you really get underneath what it takes,
     I just want to know more.
     Oh, absolutely.
     Well, I'll spend a little bit more to say the environment.
     Let's do it.
     Yeah.
     But I want to make sure it's actually powerful.
     I trust, but I verify.
     What is this?
     So it says my Instagram post yesterday, which is actually true.
     Yeah, exactly.
     Third topic for today is Walmart investing in TikTok, which I think is very interesting for a lot of reasons.
     Obviously, just with everything that's going on with President Trump's initiative and creating
     like the TikTok global, I like that Oracle and Walmart might be teaming up in this endeavor.
     20% ownership is what it's looking like that they will both be sharing into TikTok global.
     But as a response to competing with Amazon's e-commerce, this is Walmart's goal.
     How do you feel about, does that make sense?
     Here's where it makes sense.
     Walmart has a historical brand.
     I feel like it's demographic and is older traditionally.
     That's changed with them getting a better app experience.
     Yes.
     They've definitely changed this perspective, so I don't want to say that it's still this way.
     This gets them in front of youth, the younger audience that gets the brand in front of them.
     It makes them more relevant.
     It gets them in front of technology.
     And look, they're trying to out innovate Amazon.
     So Amazon's been in the forefront of innovation as far as shopping goes.
     And this is a play for Walmart to leverage.
     And you're like, well, how does that leverage?
     If you don't think that the ad platform on TikTok isn't going to get shut down.
     Cavia, a little bit.
     Anything we talk about, assuming Donald Trump doesn't shut it down.
     The ad platform is going to be billions upon billions of dollars that are going to be spent.
     So marketing is going to be falling in.
     You're going to have these natural opportunities for e-commerce.
     No different than what you see on Instagram.
     Instagram shopping.
     And yes, TikTok's a different platform with the video, but they're still in the same vein.
     It's content and how you link content to shopping.
     And so Walmart sees this as a play, younger demographic.
     They get a direct way to have app integration directly with their products.
     So it makes sense to me.
     I see that.
     And what I'm waiting for is I feel like the shoe hasn't completely dropped on TikTok.
     It's super popular now.
     It's been a release and entertainment segment for people,
     and especially much COVID is a perfect timing for how they've grown.
     Obviously video content is here to stay.
     It would be interesting to see.
     If I had my crystal ball like three years from now, what TikTok is,
     I think you're going to see an evolution of it.
     And I think Walmart could probably help it.
     I think both of these companies could help each other.
     I think TikTok can make Walmart hyper, cooler,
     give a natural outlet for selling to look within the app.
     I think Walmart can bring your level of practicality in leadership and branding to TikTok.
     I agree.
     And I think you're going to see a maturing of TikTok in some way.
     Not because you're not going to have fun and do dances and all that.
     That'll still be there.
     But I think you might see come to the middle which helps TikTok in the long term.
     That was the only thing that for me when I was just initially reading it.
     I was like, I could see it from a branding standpoint at making sense.
     But the other business side of it, I was like, I'm going to let Ryan take over this car.
     Because this doesn't make sense to me.
     It makes sense.
     I trust you.
     No, it makes sense.
     The Oracle factor will be interesting to how that relationship,
     the marriage of all this comes together.
     I can understand it from where each entity's technology comes in.
     But how all this gets slice and dice will be interesting.
     Similarly, I'm going to let you take this one as well.
     Because this one, MailChimp is bringing AI into a small business market.
     But I'm not totally understanding what this is going to mean for small and medium sized businesses.
     Here's what it's going to mean.
     A lot of people use MailChimp and if you're using it now, it's getting better.
     I'm not going to talk down to MailChimp.
     But it's really more than the e-con play in the funnel for shoppers,
     some of the automation of what natural steps should be for customers and then automating it.
     They're behind a point blank, especially an e-con.
     They're late to the game.
     Yes, they've integrated.
     They canceled their integration with Shopify.
     Shopify canceled them.
     This is about a year ago.
     And Clavio, which is where Clavio partner, privy,
     there's a lot of email platforms that are growing in the e-commerce space,
     especially the integration with Shopify, which is more of that S&B platform
     unless you get into Shopify Plus.
     And so these are features that are already really present in those platforms.
     They're not really packaging necessarily as AI, you know, automatic.
     But it does do like recommendations based on your behavior.
     Triggers and flows.
     All of those things which Clavio and privy and others have been doing for years or months.
     And so this is a little bit of a catch up for me for MailChimp.
     Don't get me wrong.
     There's some cool features here.
     And MailChimp is definitely more of a household name.
     So again, this is kind of like Walmart adding TikTok.
     Walmart's got such huge scale.
     MailChimp has huge scale because they're already there.
     But a lot of these guys that are coming into e-commerce or in small business
     may not have even heard of Clavio or may not have heard of privy
     because they don't have the brand power and cache and overall.
     But this is kind of catch up for me.
     And so, and I don't think it, I'll get it.
     We use it with certain clients.
     We use it for some of our email campaigns.
     So we'll get in and play around and see if it may be a little supersede.
     Some of the tools I just named.
     But that's kind of the news to me.
     I think the mainstream that use MailChimp and weren't aware of other ways
     to do these types of automations, especially with e-commerce.
     Great.
     And I do think beyond e-commerce, they are bringing kind of this flow
     and these funnels for a lack of better word to your existing cache.
     Because now there are certainly certain things that are automated within MailChimp.
     But a lot of it, those triggers weren't as automated as they needed to be.
     And this is bringing more of that automation to even non e-commerce campaigns.
     Okay.
     So I get a newsletter and I read it and I do these things
     and maybe I click on something that's in there.
     Well, that might should trigger a follow-up email 10 days later about something else.
     I got you.
     And that's where MailChimp's been a little behind, I think.
     And so this is good.
     But let's see if it actually supersedes some of the tools that are already out there
     that will really jazz up your e-commerce.
     I got you.
     I got you.
     I guess to close out, I was really not only one other thing to really kind of point out
     Instagram Reels.
     Now 30 seconds.
     That's right.
     Oh my gosh.
     Are you so excited?
     I'm excited.
     We did one the month ago.
     We've got to do better.
     We're going to do more.
     You know, we're doing a lot of content.
     But we're probably behind on the Reels.
     But you wanted for 15 to 30.
     You know, they're trying to catch up with TikTok on the kind of real-time video
     and the editing and the fun and the entertainment.
     This is an entertainment play for Instagram.
     Oh, for sure.
     I mean, you know, all social media has that aspect to it.
     But TikTok is kind of owning the entertainment space, I think, right now.
     You know, true entertainment.
     Yeah, there's some knowledge and things that I'm here.
     But, you know, Instagram's in this, you know, including the stuff that I do.
     I mean, it's in, you know, that influencer space of sharing knowledge
     and sharing insights and motivation and, you know, the pictures that I've taken
     and the things that I've done and TikTok's more in that entertainment space
     where everyone's an entertainer and everyone's entertaining.
     I think this is Instagram's play for more of that space
     and in times like now, I think we all need a little more entertainment.
     But I do think it's good.
     It will, I think I'll increase engagement.
     It should make it easier to edit.
     You do 10-second clips times, I guess, times three.
     Right.
     And can edit them.
     Yeah, or break down, however, you really need to for whatever kind of story
     you're trying to tell.
     I think it's cool.
     No.
     Either way, I'm still not going to be a good dancer.
     So, you know.
     We'll work on it.
     We'll work on that.
     Signs up for dancing classes.
     Yes.
     That would be right.
     Talking me too much pressure.
     I need dancing classes.
     Yes.
     I'll call my good friend, Rich Constantine.
     Thanks.
     There you go.
     He never taught me.
     I got to watch it a bunch, but he never taught me.
     Well, he was a good dancer.
     He was a good dancer.
     Well, a ranger, a ranger.
     No, that's it for us on the Radcast for this week.
     Anything else you have?
     I think that's all we got.
     Appreciate everyone.
     Follow along, as always, at theradcast.com
     and at the.rad.cast on Instagram.
     And we'll see you next week.
     Have a great weekend.
     To listen to full episodes or to contact us,
     visit us on the web at theradcast.com.
     Or follow our host at RyanAlford on Instagram.
     Thanks for tuning in.

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