Good Morning & Hello Friday

• What a week! The Red Wave failed to materialize BUT the GOP (and all of us) may finally be rid of Trump, or at least see “hugely” less of him. I mean when everyone from the Fox News desk to Ben Shapiro feels free to mock him for being a “loser,” that’s a pretty clear sign that something major has shifted (see #1 below).
• Tech layoffs have come roaring back post-COVID. Important to keep in mind that just prior to the pandemic, tech was facing a major meltdown but those cuts were deferred when COVID threw tech a lifeline. However, instead of plowing that newfound money back into their coffers for the next rainy day, tech leaders squandered it on new hires and new office spaces. (See #2 and 3 below)
• And finally, several new social media and podcast recommendations. It’s how everyone is staying tapped in and getting their news and product info these days. (See #3, 4 and 5 below)

Please scroll down for more – including this week’s cool celebrity sighting (#8 below).

POLITICS

1. There was no red wave. And Trump is the big loser!

• Lee Zeldin put up a good fight in NY (47% vs. Hochal’s 53%) but apparently New Yorkers are less concerned about crime, homelessness, and general disorder than I am. So be it!
• So while I am sad that law and order didn’t prevail, I am pleased that Tuesday night’s results may have finally put the kibosh on Donald Trump’s continued political shenanigans as well as his claims to being the GOP’s top “kingmaker.”
• Bottom Line: 2024 is shaping up to be all about DeSantis (and possibly Biden). DeSantis is the first GOP governor to win Miami-Dade County, a Democratic stronghold, since Jeb Bush’s re-election in 2002, and Biden pulled off the best midterm election results of a sitting president since 2002. If he wants to run in 2024, nobody will stop him.

And that’s ALL I’m going to say about politics.

TECH

2. The tech meltdown is back with a vengeance

LAYOFFS GALORE across companies big and small. Amazon even has the dubious honor of being the first company – EVER – to lose $1 Trillion in stock market value. The most shocking thing, however, is the lack of foresight by tech leaders, e.g. Zuckerberg acknowledged he was caught completely off-guard when the COVID-bubble ran out of steam! I mean everything associated with the pandemic has been reverting back to pre-COVID behaviors for the last year, from return to travel to IRL get-togethers, in-store shopping, dining out, even going back to the office. Why did he not see those changes coming at META?

Which brings us back to 2018/2019 when the tech bubble was showing the first signs of THIS meltdown (see below). Tech was literally saved by COVID as we all became completely reliant on tech for zoom calls, e-commerce, even workouts (Peloton). See below for 2 ZandlSlant posts from that time…..still the same problems 3 years later.

Remember this?

Here are a few reminders of where tech stood prior to COVID:

1. Tesla was burning money at $8,000 a minute (or $480,000 an hour). Uber had already burned through $10.7 billion with losses accelerating. Amazon’s fulfillment and shipping costs amounted to 26.4% of net sales in 2017, up from 16.6% in 2007.
2. Via and Movie Pass both “too good to be true” companies, did not have a viable business model e.g., I took a Via on a 45-min ride to the Upper West Side, and it cost me $5. I wondered how that could possibly be sustainable. Of course, it wasn’t.

BOTTOM LINE: The gravy train has left the station. The days of wild spending sprees (with VC money) and that sense of entitlement that led to trends like “quiet quitting,” insistence on remote work, and employees wanting the final say on the kind of clients their companies could take on are over — for now at least. Unsurprisingly, LinkedIn and numerous business publications are filled with sad tales of laid-off workers – and how surprised they are to be unemployed. All I can say is, time to shake off the privilege. Sh*t has finally gotten real and the sooner you get used to it, the better. And having gone through 4 or 5 major economic crises over the years, I know how difficult it is but I also know that getting through it makes you that much more prepared for the next downturn. It also makes you appreciate good jobs and good clients all the more.

3. Podcast recommendation: “All-In”

1. I stumbled on this podcast with Jason Calacanis, Chamath Palihapitiya, David Sacks, and David Freiberg last week and loved it. [Altho for a bunch of really smart guys, they were 100% wrong about the “red wave.”]
2. But this group of industry veterans are the ultimate insiders (and they also happen to be best friends). Their podcast covers all things economic, tech, political, and social. The idea for the podcast came up early in the pandemic during one of their poker games.
3. One piece of advice: Get Jason to stop interrupting his fellow podcasters. It’s an annoying habit. It needs to stop!

BRAND INFLUENCERS

4. The business of filming your daily life: Ashley Alexander (AKA Ur Mom Ashley)

1. I’ve been following Ashley from Ur Mom’s House for the past year. The content house she was originally in broke up (over money and sharing equity in videos they made together). She has now moved on to a new house and has amassed more than 1.4 million subscribers. She also has a great backstory including how these videos allow her to help her mom financially.
2. Brands she has worked with include Vans, Capital One, and Amazon. In this interview, she also shares key financial info, e.g., how much she’s made from AdSense and how much more lucrative (and easy) Instagram has been for her vs. YouTube.
3. I’m fascinated by people creating businesses out of living their lives online. I’m certain if I were her age, this is exactly how I would have started my trend/research business.

NOTE: This is not a weekly must-watch for me. However, I check it out every month or so because it is a fun way to gather insights and stay up to date on what “the kids” are into these days.

5. Krave Beauty’s “Waste Me Not” Pop-Up attracts thousands of shoppers!

1. KraveBeauty, which I had never heard of, hosted an exceptionally successful WASTE ME NOT pop-up last weekend (on my street).
2. Over the course of 4 days, they had at least 10,000 young women lining up around the block, from noon til early evening. They even hired a security guard, I had a busy weekend and regret not shooting any video or interviewing people about how they discovered the brand but with 272K followers on Instagram and a robust Tik Tok presence, I’m certain it’s 100% social media-driven.
3. One ironic aspect: WASTE ME NOT generated crazy amounts of trash (left on the sidewalk each and every day). Really, ladies?? (See photo below).

ART & ENTERTAINMENT

6. Theaster Gates at the New Museum: lots of buzz on this!

1. “Young Lords and Their Traces” opened at the New Museum yesterday (Nov 10) and will be on view thru February 5th, 2023. It’s the Chicago artist’s first solo museum exhibition in America.
2. He began his career studying urban planning and carried out a joint master’s in religion, ceramics, and city design.
3. He used to be a potter (which is very evident in this show). He’s also revitalizing neighborhoods in his native Chicago and is also in a band.
4. NOTE: If you get to the New Museum, make sure you also check out Vivian Caccuri and Miles Greenberg’s newly commissioned works (pic below).

7. Brad’s new print series

• Brad spent two weeks this summer making this series with Highpoint’s master printer Cole Rogers.
• Last week he flew back to Minneapolis for the opening – which was both exceptionally successful and very fun, according to my sources. The show runs through Dec. 3.
• Also, a great interview with Brad by Alex V. Cipolle for MPRNews.

8. Major Neighborhood Celeb Sighting: Patti Smith!

1. Stopped by the gorgeous Elizabeth Street Garden this week and who do I spot? Patti Smith doing a photo shoot with a full crew.
2. I overheard someone congratulate her on her new book.
3. A quick Google search revealed that she does indeed have a new book coming out. Titled “A Book of Days,” it’s based on her very popular Instagram account (1MM followers) and features over 365 photos, i.e., a snapshot of a year of her life.
4. Smith is set to head out on a book tour entitled Songs and Stories, kicking off at Strand Books in New York on Nov 14.

A description of the upcoming book: “In 2018, without any plan or agenda for what might happen next, Patti Smith posted her first Instagram photo: her hand with the simple message “Hello Everybody!”. Detailing further, the blurb continues, “known for shooting with her beloved Land Camera 250, Smith started posting images from her phone including portraits of her kids, her radiator, her boots, and her Abyssinian cat, Cairo. Followers felt an immediate affinity with these miniature windows into Smith’s world.”

CrackMagazine.Net

9. More neighborhood news: Basquiat’s former home/studio Up for Rent ($60K/month)

1. Interestingly, this former stable on Great Jones Street (once owned by Andy Warhol) and where Basquiat lived, worked, and died, is connected via backyard with a walk-up building at 342 Bowery that was also owned by Warhol. The Bowery building is being auctioned off this December with a minimum bid of $5.69MM.
2. This week I saw realtors showing the Basquiat building to potential renters (but they didn’t look too serious to me). I got a quick peek into the interior and it looks quite raggedy although it formerly housed the very exclusive Japanese restaurant, Bohemian.
3. Per Artnet, the 6,600 sq. ft. space is available to anyone willing to pay $51,000, plus $9,000 in taxes each month.

TRAVEL

10. Lindblad/Nat Geo invited Jill B and me to cruise NY Harbor with them 🙏🙏🙏

1. Lindblad/NatGeo, now under the Disney umbrella, is offering 8-day cruises up the Hudson with guest speakers like Ruth Reichl (food critic and author).
2. The Disney folk are expert marketers so I’m assuming they’ve done the research and found opportunities for travelers eager to spend almost $6000 per person to sail up the Hudson. I don’t quite get it but I live in the city and can easily rent a car to go to Storm King for the day.
3. In any event, they did a phenomenal job hosting us for a 3-hour cruise with excellent food and great staff. Fingers crossed this works for them.

NOTE: My need for discovery and exploration is OUTSIZED which is why I am not overly enthused by a cruise up the Hudson River. However, I am SUPER EXCITED about my upcoming 2023 Lindblad cruise to the Faroe Islands!!

And that’s a wrap for today, my friends.

This Saturday I am super excited to check out Shane Gillis at the NY Comedy Festival at Town Hall. He’s one of my favorite comics and I am also looking forward to enjoying it in the company of my longtime pal, David Moreland. We all certainly need a few laughs these days. HAVE A GREAT WEEKEND EVERYONE!!