1 Smart Business Story: Why is Hims entering the testosterone biz?

Testosterone is going mainstream. What used to be the stuff of bodybuilders is growing in popularity for everything from treating medical conditions to giving looksmaxxers an edge.     Now, big-name players like Hims and Rugiet are entering the testosterone space, which is rife with gray market providers — including some seemingly faceless, shady companies.     Inc.’s Sam Blum joins Chloe Aiello to take us into the red-pilled world of testosterone replacement therapy.    Then, Sam and Chloe talk over their news obsessions this week including GLP-1s and eating disorders, and a battle between prediction markets Kalshi and Polymarket.     Also, an update on our brand: This Monday edition of The Business Model, which we had been calling “Circling Back,” will now be called “1 Smart Business Story.” Why? Well, Inc. just launched a new newsletter on Beehiiv with the same name. Subscribe today to get a can’t-miss business story every week in both newsletter and podcast form.     If you happened to have an affinity for the “Circling Back” brand, don’t worry: Our closing segment at the end of each Monday episode will now be called “Circling Back,” where we fill you in on what we are obsessed with right now.