Longreads Best of 2020: Business Writing

Through December, we’re featuring Longreads’ Best of 2020. After revisiting hundreds of business stories picked by the team this year, we’ve narrowed down our favorites. Enjoy these nine reads, including coverage of the wildest startup collapses and in-depth explorations of pandemic insurance, TikTok content houses, 5G, and the state of the fossil fuel industry.
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Unlucky Charms: The Rise and Fall of Billion-Dollar Jewelry Empire Alex and Ani (Aaron Gell, Marker)
Carolyn Rafaelian spent 15 years building a jewelry empire, making her company, famous for its $30 expandable wire bracelets, one of the fastest-growing fashion brands ever. But what led to Alex and Ani’s fall? Aaron Gell’s piece has it all: an odd alliance between a spiritual “earth mother” founder and an Army major-turned-CEO, business decisions influenced by astrology and New Age practices, a $1.1 billion gender discrimination lawsuit against Bank of America, and even a spinoff into a “university”that was meant to share the company’s life lessons with the world.
Buzzwords aside, the curriculum mostly aimed to impart an essential truth behind Alex and Ani’s appeal: Its products were not just glittery trinkets but spiritual armor designed to protect, inspire, and ennoble the bearer as she made her way through the world. Retail employees at the company’s “bangle bars” were known internally as “bar tenders” for their patience and empathy. They’d draw out customers’ personal stories — what AAU president Dennis Rebelo called “story birthing” — prescribing just the right stones and talismans (the Eye of Horus for protection, light, and reason; the dragonfly for grace, change, and power) for each unique journey.
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