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For companies in the Ozempic-fueled weight-loss economy, it's survival of the fittest

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For companies in the Ozempic-fueled weight-loss economy, it's survival of the fittest

Before he began taking Mounjaro last summer, Nick Lovell was the weight-loss economy’s ideal customer.

He signed up for WeightWatchers and bought “Dr. Atkins’ Diet Revolution” to try the low-carb regimen. He joined his first gym in middle school and has belonged to half a dozen others since. He paid for personal trainers and boutique fitness classes and underwent bariatric surgery in 2008. And yet, his 5-foot-9-inch frame stubbornly held onto its 258 pounds.

All told, Lovell, a photographer from Norwalk, Conn., spent tens of thousands of dollars over the decades on “things that ultimately failed.”

Weekly injections of Mounjaro, a prescription diabetes medication that spurs weight loss, changed everything. Down 80 pounds in 13 months, Lovell has canceled his diet program memberships and no longer belongs to a gym, preferring to exercise on his own at home. He goes out to eat less often. His cravings for ultra-processed foods such as cereal and Velveeta have subsided, and now he buys more fruits and vegetables and high-protein options such as chicken thighs, eggs and cottage cheese instead.

Lovell’s experience with the medication is one of countless success stories to emerge amid a monumental shift in the way people lose weight — and, consequently, how they live and spend.

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So far, the powerful new anti-diabetes and anti-obesity drugs — a fast-growing family that also includes Ozempic, Wegovy, Saxenda, Zepbound and dozens more in the works — have been expensive and difficult to obtain because of widespread shortages. But as availability increases and costs come down, GLP-1 medications threaten to upend the long-standing natural order for industries across the board.

Executives and investors are nervously wondering whether droves of slimmed-down users will soon ditch their dieticians, skip the gym, order less at restaurants, and throw out their favorite snack brands. Many companies, acknowledging that the blockbuster class of drugs are a medical breakthrough and not just a fad, are swiftly repositioning themselves with new products and services in a bid to persuade customers that they still have plenty to offer in the booming age of Ozempic.

An Ozempic injection pen. The market for GLP-1 drugs is expected to exceed $100 billion by 2030.

(Christina House / Los Angeles Times)

“We had to up our game,” said Dr. Gary Foster, chief scientific officer at WeightWatchers. “A lot of people said, ‘Was it an existential crisis for you?’ Absolutely not. When science evolves, we evolve. What we have to do as a brand is think about how we incorporate that.”

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The changes to consumer behavior have already had far-reaching ramifications. Apparel retailers say they’ve noticed customers buying smaller sizes. Plastic surgeons are reporting a rise in facelifts and other procedures to correct so-called Ozempic face, the sagging skin that often accompanies rapid weight loss. In February, Lars Fruergaard Jorgensen, the chief executive of Ozempic maker Novo Nordisk, said food company leaders had called him because they were “scared.”

“The question is, how widespread is Ozempic going to become?” said Simeon Siegel, an analyst at BMO Capital Markets. “As it grows, so too will its impact.”

With studies predicting that the market for GLP-1 drugs — which help manage blood sugar levels, slow digestion and reduce appetite — will exceed $100 billion by 2030, businesses aren’t waiting around.

In November, WeightWatchers began offering the prescription medications through its WeightWatchers Clinic, which charges $99 per month for access (the cost of the drugs is separate). Foster said tens of thousands of people have since been prescribed GLP-1s directly from the company’s doctors.

It also introduced the WeightWatchers GLP-1 program, designed for members taking the drugs regardless of where they got them. The program aims to help users develop healthy lifestyle habits by teaching them about nutrition, meal timing, proper protein and hydration intake and the importance of a consistent exercise routine.

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Logo of WeightWatchers on a mobile phone, and the company's website, in New York, Tuesday, March 7, 2023.

WeightWatchers began offering GLP-1 medications through its in-house clinic in November. Since then, tens of thousands of people have been prescribed the drugs directly from the company’s doctors.

(Richard Drew / Associated Press)

“These medications are not total fixes,” Foster said. “It’s a misnomer to say, ‘Oh, it’s the easy way out.’ When you do need biological treatments, you also need behavior treatments to be successful.”

The pitch is that health is a long-term commitment that is about more than just a smaller number on the scale. On its GLP-1 program page online, WeightWatchers says it is “your companion on your medical weight-loss journey.”

We had to up our game. A lot of people said, ‘Was it an existential crisis for you?’ Absolutely not. When science evolves, we evolve. What we have to do as a brand is think about how we incorporate that.

— Dr. Gary Foster, chief scientific officer at WeightWatchers

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Atkins, a WeightWatchers rival, also wants a bite of the lucrative market and has adopted similar language: We’re “your ally in a new era of weight loss,” the low-carb diet program says on a dedicated GLP-1 page on its website.

“The new weight-loss medications have changed EVERYTHING. We’re actually thrilled at what lies ahead.”

With many GLP-1 users reporting muscle loss as a side effect, Atkins is pushing its line of high-protein bars and shakes, “a deliciously easy way to meet your protein requirements to help you maintain lean muscle mass and bone health while you’re losing weight.”

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Two months ago, Nestlé, the world’s largest food and beverage company, introduced Vital Pursuit, a line of frozen foods that the company said is “intended to be a companion for GLP-1 weight-loss medication users and consumers focused on weight management.” The Swiss-based giant cited research from J.P. Morgan that predicted that GLP-1 users in the U.S. could reach 30 million by 2030 — or around 9% of the country’s population.

Nestle's new Vital Pursuit line of frozen foods.
Nestlé has introduced Vital Pursuit, a line of frozen foods “intended to be a companion for GLP-1 weight-loss medication users and consumers focused on weight management.”

(Nestlé)

“As the use of medications to support weight loss continues to rise, we see an opportunity to serve those consumers,” Steve Presley, chief executive of Nestlé North America, said in a statement. By tapping into the emerging category with its new high-protein pasta bowls and sandwich melts, the food giant is trying to “stay ahead of the trends.”

Abbott, the company behind Ensure and Pedialyte, in January introduced Protality, a line of chocolate and vanilla shakes with 30 grams of protein that “provides nutritional support for adults pursuing weight loss.”

“We’re serving a new group of people who may be at a higher nutritional risk because they may be overweight or have obesity and use weight-loss medications,’’ Hakim Bouzamondo, Abbott’s division vice president of nutrition research and development, said in a statement. The shakes are now sold at stores including CVS and Walmart.

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I’m pretty cynical about companies getting into this space now. It seems opportunistic. This is a huge phenomenon, there’s obviously money to be made in it.

— Nick Lovell, a Mounjaro user

Gyms, too, are pivoting to retain clients who are now taking the drugs — and to attract people who might have felt too self-conscious to sign up for a membership before.

Although it might seem counterintuitive, “I think [Ozempic] brings new people in,” said Siegel, the analyst who tracks big-box fitness chains.

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Equinox's GLP-1 Program is available nationwide with master instructors.

Equinox’s personal trainers have gone through a new GLP-1 Program to help tailor their sessions with clients who are on weight-loss medications.

(Equinox)

“When an ‘unfit’ person becomes a fit person,” he said, “more often than not those are the people that become the workout fanatics.”

Luxury health club chain Life Time is trying a multi-pronged approach to appeal to GLP-1 users.

In November the company launched Miora, a wellness clinic located inside one of its athletic clubs in Minneapolis. The clinic offers GLP-1 drugs as well as a host of longevity and performance amenities such as IV therapy and creates personalized programs for members based on their bloodwork and other tests.

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Currently in pilot mode, Miora will roll out to Life Time’s other major markets in the coming months, including Southern California.

Miora clinic

Life Time, a chain of luxury health clubs, has launched Miora, a wellness clinic that offers GLP-1 drugs as well as longevity and performance amenities. The clinic is in pilot mode in Minneapolis and is expected to roll out to other club locations in the coming months.

(Life Time)

In the meantime, the company has created a GLP-1 personal training program for its team of 3,500 fitness trainers, meant to help them understand the specific challenges faced by weight-loss-drug users and tailor their sessions accordingly. That could mean incorporating more strength and resistance training to combat muscle loss or helping prevent weight gain when a member stops taking the drugs or lowers the dosage.

“If we were just to get a fraction [of our potential member base] to engage in the way that we do things differently with GLP-1s — it’s an insane opportunity for the company,” said Cliff Edberg, senior director of Miora.

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Personal trainers at Equinox and at Gold’s Gym SoCal locations have received similar GLP-1-focused instruction.

The question is, how widespread is Ozempic going to become? As it grows, so too will its impact.

— Simeon Siegel, an analyst at BMO Capital Markets

“We’re ready and waiting to assist clients using GLP-1 drugs,” said Mike Mitchell, vice president of fitness for Gold’s Gym SoCal.

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To monitor the effect of the medications on lean body mass — the difference between a person’s total weight and body fat weight — the franchise group is recommending that members get regular comprehensive body composition scans at one of its 23 locations.

“Supporting individuals who are taking GLP-1 medications requires a nuanced approach,” Mitchell said. “Our role involves providing empathetic and personalized behavior-change coaching.”

Physical trainer Patricia Rubio, left, and Mike Mitchell, vice president of fitness for Gold's Gym SoCal.

Personal trainer Patricia Rubio, left, and Mike Mitchell, vice president of fitness for Gold’s Gym SoCal, at the franchise group’s Hollywood location.

(Christina House / Los Angeles Times)

As groundbreaking weight-loss drugs reshape the consumer landscape, the difficulty for brands will be positioning themselves as authentic partners to GLP-1 users.

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“I’m pretty cynical about companies getting into this space now,” said Lovell, the Mounjaro user. “It seems opportunistic. This is a huge phenomenon, there’s obviously money to be made in it. The major conglomerates come across to me more as just protecting their bottom line.”

To make it feel like less of a “money grab,” he said he’d like to see companies immerse themselves in the growing GLP-1 community and get to know their target customers.

“Otherwise, it’s Marie Antoinette: Let them eat cake — or let them eat protein bars, in this case.”

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Rent-hike ban to protect fire victims ends despite gouging concerns

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Rent-hike ban to protect fire victims ends despite gouging concerns

A rule intended to prevent rent gouging in the wake of the Eaton and Palisades fires has lapsed in Los Angeles County, possibly exposing some renters to hikes.

The executive order that blocked rent increases was issued by Gov. Gavin Newsom amid the devastating wildfires last year. Under the order, landlords couldn’t increase rents by more than 10% above their prefire levels.

The rule, which was supposed to be temporary and was repeatedly extended, ended Friday after a vote to extend it again failed to garner enough votes. Supervisor Lindsey Horvath, whose district includes Pacific Palisades, sounded the alarm in a motion to extend price protections that failed to pass at the Board of Supervisors’ May 19 meeting.

“These price gouging protections continue to be necessary as construction and rebuilding continue, and as thousands of people remain displaced,” the motion said. “Families which signed short-term leases could face drastic price increases of 50% or more without further price gouging protection.”

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Los Angeles County is home to more than 1 million rental properties, though not all of them needed protection from the new rule. There are already stricter rent increase caps for many residences, depending on the location, type and age of the building. Despite the rent control in the region, the people of Los Angeles pay among the highest rents in the country.

It is uncertain whether renters will face rapidly rising rents now that the protection has lapsed. But some real estate experts and policymakers said there was no need for the temporary rule that was part of the governor’s state of emergency.

Supervisors Kathryn Barger, Janice Hahn and Holly Mitchell abstained from voting on the motion to extend the protection, while Supervisors Hilda Solis and Horvath supported it.

“I abstained because I did not see sufficient evidence to justify extending this emergency ordinance, nor did I see evidence to eliminate it entirely,” Hahn said.

Barger’s office said she supported allowing the protections to sunset while waiting to see whether new information emerged.

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“Market data already shows countywide rents are only about 2% above pre-emergency levels and rental inventory has grown,” Barger representative Helen E. Chavez Garcia said. “The Supervisor is also mindful of the burden these ongoing protections place on small property owners throughout the county.”

Mitchell did not immediately respond to a request for comment.

There haven’t been steep rent hikes in neighborhoods within three miles of the Palisades fire, according to a Times analysis of data from Zillow, the property listing company.

In ZIP Codes within three miles of the Palisades fire, rent increased 4.8% from December 2024 to April 2025. In areas around the Eaton fire, which destroyed swaths of Altadena, rent jumped 5.2% in the same period.

In L.A. County, ZIP Codes farther from the fires saw only about a 2% increase.

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A landlords representative, Jesus Rojas of the Apartment Owners Assn. of Greater Los Angeles, told the supervisors during public comment at the meeting that the county’s rent-gouging rules have “long outlived the emergency they were intended to address” and are now being “wrongfully used to harm thousands of rental housing providers throughout the county.”

“There is no proof that multifamily rental housing providers are hugely increasing rents for impacted homeowners,” Rojas said.

Indeed, there are strong signs that the property market in the Los Angeles area has at last begun to cool.

L.A. metro-area rent prices recently fell to a four-year low, with the median rent slipping to $2,167 in December.

Meanwhile, condominium sales had their slowest start of the year in decades. Condo sales in Los Angeles have plummeted to a 20-year low, with fewer than 2,000 units sold in January and February — the worst start to the year since 2005.

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Newsom defended the price-gouging protections shortly after they went into effect.

“In the days following the Los Angeles firestorms, we worked quickly to protect Los Angeles survivors from any form of exploitation,” he said in February 2025. “The state has the tools in place to not only block price gouging during this emergency, but also to prosecute bad actors.”

The Los Angeles County Department of Consumer and Business Affairs said it received more than 2,000 complaints after the fires, alleging that retailers and landlords were taking advantage of people put in hardship by their losses, and sent out more than 2,000 cease-and-desist letters to businesses and landlords for alleged price gouging, said Morine Merritt, who oversees department investigations into consumer and real estate fraud.

“Close to 90% of the complaints that we received involved allegations of rent increases,” Merritt said in an interview. Now that the fire-related protections have expired, existing laws and “regular market conditions determine price increases for goods and services, including rents,” she said.

Crackdowns on fire-related rent gouging have been rare, said Chelsea Kirk of the activist organization the Rent Brigade, which analyzed L.A. County’s rental market in the year after the fires. It reported 18,360 potential examples of price gouging in listings but said that few lawsuits had been filed by authorities so far.

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Last week, Rent Brigade announced what it said was the first private civil lawsuit brought by a family that claimed to be rent-gouged in the aftermath of the wildfires. Plaintiffs Randall and Candy Renick, whose Altadena home was damaged, said they were charged nearly three times the maximum permitted rate for nearly 10 months. They seek restitution of $96,000 plus civil penalties and attorneys’ fees.

The rental market has probably stabilized since the fires, Kirk said, but other families may still be “locked into illegal rents” that they agreed to pay when they were in a rush to find housing after they were displaced.

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Read Nick Bilton’s Letter to Scott Pelley

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Read Nick Bilton’s Letter to Scott Pelley

Dear Mr. Pelley:

I meant what I said in my letter last week to the 60 Minutes team: joining 60 Minutes is the honor of my career and I am grateful to be working alongside the people who have contributed to the most important television journalism brand this country has ever produced. While I’m new to 60 Minutes, I’ve devoted my career to investigative journalism and storytelling. I started this job excited to collaborate and to benefit from the wisdom and experience of the 60 Minutes veterans, with you among them. For that reason, one of the first things I did in my new role was call you to talk and invite you to dinner. It is a profound disappointment that you rejected that overture and chose ambush instead. Yesterday, you hijacked my first meeting with staff to disparage me, my qualifications, and my intentions with remarkable incivility and contempt. I welcome a diversity of viewpoints and respectful debate among the team, but this was nothing of the sort. Yesterday’s performative display of hostility enacted in front of the staff instead of in a civil, private conversation-demonstrated that you have no interest in contributing to the future success of the show, or approaching my new tenure with a mind open to collaboration and progress. I am here to deliver first-in-class news programming, not to make headlines about newsroom drama. I am eager to work alongside those who share this goal.

Despite yesterday’s misconduct, I had hoped that in sitting down with you today we could find a path forward together. You made clear that you are not interested in such a path.

Your antipathy to the future of the show has come through loud and clear. And I have heard you. I therefore write on behalf of CBS News, Inc. (“CBS”) to inform you that your employment with CBS is terminated for cause effective immediately. Enclosed is your formal termination letter.

Sincerely,

Nick Bilton

Executive Producer, 60 Minutes

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Aspiration co-founder sentenced to 14 years for fraud

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Aspiration co-founder sentenced to 14 years for fraud

The co-founder of Aspiration, Joseph Sanberg, was sentenced to 14 years in prison on Monday after defrauding investors and lenders of over $248 million.

The startup, an eco-friendly digital banking company boasting fossil fuel-free investments, carbon offsets for gas purchases, and a debit card with cash-back benefits for shopping at clean companies, was founded by Sanberg and Andrei Cherny. Cherny left the company in 2022 and has not been charged.

Sanberg, an Orange County native, pleaded guilty to wire fraud in October after being arrested in March last year. Aspiration subsequently filed for bankruptcy and liquidated all of its assets by July.

Sanberg and venture capitalist Ibrahim AlHusseini, who also faces charges, together forged a series of bank statements in order to obtain loans. From 2020 to 2021, the pair forged AlHusseini’s bank statements to show millions of dollars in assets in order to obtain millions of dollars from lenders.

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Additionally, they forged a letter from their audit committee stating that $250 million in funds were available, when in reality Aspiration had less than $1 million. The amount of loans defrauded exceeded $248 million.

In 2021, Sanberg artificially inflated Aspiration’s 2021 revenue by $44 million by recruiting 27 fake customers to sign letters of intent pledging tens of thousands of dollars per month for tree planting services. Sanberg himself funded the contracts and used the inflated revenue numbers to obtain more loans.

The charges sparked an NBA investigation into salary cap allegations due to Aspiration’s connections with Clippers owner Steve Ballmer.

Ballmer personally invested $60 million in Aspiration, all of which was lost. He is now the target of a civil lawsuit alleging his participation in the scheme. Ballmer denies the allegations.

The team announced a $300-million sponsorship deal with Aspiration, and Clippers player Kawhi Leonard signed a four-year, $28-million marketing contract with the company, which reportedly performed no duties. The issue has raised concerns about how players are circumventing the NBA’s salary cap.

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The team lost the $300-million sponsorship deal and an additional $20 million paid for carbon offset purchases.

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