💬 Quoted: “We worried we’ve hired 10,000 people and we’ve built a smart timer.”

• When Amazon launched the Echo smart home devices with its Alexa voice assistant in 2014, the plan was simple: sell the devices at a loss so that users will spend meaningful amounts of money on Amazon via use of the device in their everyday lives. A decade later, however, it’s become clear the retail giant’s plan had more holes than Stanley Yelnats’ experience at Camp Green Lake. Hundreds of millions of Alexa users are mostly relying on free apps to set alarms and check the weather, causing Amazon to bleed money in recent years, according to a new WSJ report. Between 2017-2021, the company reportedly lost $25+ billion on its devices business, which includes Echos, Kindles, Fire TV Sticks, and video doorbells. But the tables could soon turn. Amazon is reportedly planning to introduce a paid Alexa tier as soon as this month.

🎓 Stat of the Day: Professor Anita Elberse has built an academic career – and a significant social media following – on studying the conditions that create the greatest success stories in sports and entertainment. She’s best known for teaching a four-day, $12,000 elective class at Harvard (The Business of Entertainment, Media, and Sports, or #BEMS), which consists of deep-dive lessons into topics like Beyoncé’s music launch strategies or the workings of MrBeast’s content empire. Professor Elberse’s class is also open to professionals not enrolled at the school, and typically attracts a wide range of high-profile students – including executives from Hollywood and top advertising firms, as well as celebrities like Channing Tatum, LL Cool J, and Ciara.

🤔 Did You Know? Between 2000-2022, median US home prices increased by 59.1% while median household incomes rose by 4.5%, according to data from Zillow and the US Census Bureau (both figures are adjusted for inflation).

📰 Worth a Read: How the Trump Rally Gunman Had an Edge Over the Countersnipers → (NY Times)