Budweiser, Coupon Economics, and Gold Bugs

What we learned about Business & Finance this week.

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Good morning. It's Thursday, Feb. 5, and welcome to this week's Business & Finance newsletter. This week, given that their famous Clydesdales are once again appearing in a Super Bowl ad on Sunday, we're covering Budweiser. We're also covering Coupons, and, in light of the sneaker company's recent layoffs, Nike.

If you have any feedback for us, we're all ears! Simply hit the "reply" button to reach out.

As always, thank you for being a reader!

—Phoebe Bain, 1440 Business & Finance Section Editor

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Draft Horses

Budweiser 101

Perhaps best known for its Super Bowl Clydesdale ads, Budweiser is among the world’s most popular beer brands. It was among the first beers to achieve national distribution in the late 19th century, thanks to its revolutionary refrigeration and pasteurization techniques, setting the stage for the modern US beer industry.

Founded in the 1850s as the “Bavarian Brewery,” the company was acquired in 1860 by Eberhard Anheuser. He sold half of it to his son-in-law, Adolphus Busch, in 1869, forming the partnership that would become Anheuser-Busch in St. Louis, Missouri.

In the 1870s, Carl Conrad, a St. Louis distributor, traveled through a Bohemian town called “Budweis” in German and drank a pale lager. Upon returning home, he worked with Anheuser-Busch to brew its own light lager, marketing it under the name “Budweiser.” The beer became Anheuser-Busch’s first national flagship product, but its origin story led to one of the longest-running trademark disputes in modern commercial history.

Historically, Budweiser has been among the Super Bowl’s biggest ad spenders. Its Clydesdales have appeared in 47 Super Bowl commercials over the years—Anheuser-Busch has spent an estimated $529M on Super Bowl spots over the past five decades.

Explore everything else we've found on Budweiser.

Also, check out ...

> Go inside the ranch where the famous Budweiser Clydesdales live. (Watch)

> Every brand that AB InBev owns, visualized. (View)

> See this year's Budweiser Super Bowl ad. (Watch)

> Anheuser-Busch had exclusive alcohol ad rights to the Super Bowl for decades. (Read)

In partnership with FinanceAdvisors

Little-Known RMD Strategy Approved by the IRS

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Clipping Costs

Coupons, explained

From spa treatments to cereal, coupons are vouchers shoppers can redeem for discounts on specific products or services as part of sales promotions distributed by mail or online. While the typical US household could save up to $1,465 per year by using coupons, businesses also benefit: Psychologically speaking, the perception of saving money often encourages customers to spend more overall than they otherwise would.

The first widely documented coupons are credited to Asa Candler, an early owner of the Coca-Cola Company, who in 1887 offered free glasses of his then-unknown soda. However, coupons weren’t necessarily commonplace in American life until the economic challenges many faced during the Great Depression accelerated their adoption.

Ninety-three percent of Americans have used a coupon in the past year. Digital coupon redemption overtook that of physical coupons for the first time in 2020. By 2024, 53.4% of redeemed coupons in the US were digital.

Explore everything else we've found on Coupons.

Also, check out ...

> The word "coupon" comes from a French word meaning "to cut." (Watch)

> From 2011 to 2012, a show about "Extreme Couponing" aired on TLC. (Watch)

> A couple was once sent to prison for running a $31.8M couponing fraud scheme. (Read)

> An in-depth history of coupons. (Read)

Just Do It

Why Nike matters

Named for the Greek goddess of victory, Nike is the world’s largest athletic apparel and shoe supplier. The company not only shaped the modern footwear industry but also revolutionized sports marketing with its strategy of endorsing athletes to personify its brand. In 2021, the company’s market capitalization exceeded $250B.

Nike cofounders Phil Knight and Bill Bowerman met on the University of Oregon’s track team (Knight ran, Bowerman coached). After graduate school, Knight founded Blue Ribbon Sports to distribute Japan’s Onitsuka Tiger running shoes in America.

When Knight sent Bowerman a demo pair of the sneakers, hoping that Bowerman’s team of runners would wear them, Bowerman asked to be Knight’s business partner. The pair joined forces, selling shoes at track meets out of the back of Knight’s car before parting ways with the Japanese distributor and becoming Nike in 1971.

Amid the brand’s financial and commercial success, critics have previously raised questions about the company’s labor practices and political messaging.

Explore everything else we've found on Nike.

Also, check out ...

> Bill Bowerman got the idea for the breakthrough waffle-knit running shoe from a waffle iron. (Read)

> Nike’s slogan was inspired by a death row inmate’s last words. (Read)

> Nike is one of the world’s most recognizable brands—partly due to its logo. (Watch)

> Shaquille O’Neal once showed up to a meeting with Nike wearing head-to-toe Reebok. (Read)

One Story We're Taking Stock In

In case you missed it, gold and silver's recent record highs came to an end Friday—gold prices fell by 9% and silver prices declined by more than 25%. The story below—one of my favorite reads of the week—helps explain not only what drove Friday's crash, but also why these metals had been rallying in the first place. (Hint: It has to do with a wave of buying from Chinese speculators.)

> Chinese speculators set the stage for the gold and silver crash. (Read)

> What is a gold bug? (Read)

> Alternative investments, explained. (1440 Topics)

In partnership with FinanceAdvisors

Firing Your Financial Advisor? Read This Now

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Best of the Week

We curate hundreds of resources into 1440 Topics each week. Here are some of our favorites from the world of business and finance.

> How much money do Super Bowl performers make?

> The world's top economies in 1980 vs. 2025.

> Inside a company making millions on retro, refurbished technology.

> The story behind the "troy ounce," the standard measurement for gold and silver.

> Why Ivy League colleges are worth billions.

> The most expensive Super Bowl ad ever.

> How the Super Bowl advertising craze started.

> What does the financial term "cost basis" mean?

> How to calculate your capital gains tax bill.

> Why JP Morgan Jr. paid no income taxes in 1931-32.

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Budweiser, Coupon Economics, and Gold Bugs