Hey bb! We're triple checking our Uber receipts 🧾, reading ‘hailing a cab' for dummies 🚕, and as we say ‘bye bye bye’ to the Millennial Lifestyle Subsidy', maybe we say hello to value investing?…🤭

In other news…Jeff's out of this world 🌕 Yeezy's not better than the Gap 💙and Instagram tries good ol' fashion Gen Z authenticity. 🧘🏻‍♀️

Queue Cardi B's ‘and it's up, and it's up' and get ready to face the music: the Millennial lifestyle subsidy is going away. 💔

The experience economy is what made Millennials the golden children of corporate marketing campaigns and startups reimagining mundane life. 🌈The New York Times describes the ‘Millennial Lifestyle Subsidy’, as “the period from roughly 2012 through early 2020, when many of the daily activities of big-city 20- and 30-somethings were being quietly underwritten by Silicon Valley venture capitalists”. 

Why pay a $60 taxi ride from the airport when Uber offers a price of $16? 🤠Why pay $12 for a movie ticket when you could enjoy unlimited flicks for $9.95 using Moviepass? 🍿Forget 3-star hotels and book an entire home for the same price with Airbnb.

As hard hitting realities now face mature companies, profitability and financial discipline is what we see on pro formas and on our updated receipts. Uber ~only~ lost $108 million in Q1, 2021, quite an improvement over the same quarter last year, when it lost $3 billion. 🤭Both Uber and Lyft have pledged to become profitable on an adjusted basis in 2021. Scooter companies, Lime and Bird have also committed to profitability, the former having turned a profit last year. 💵

A new lifestyle, a new investing mindset

As many have been forced to make cuts like Classpass cancelling its $99 unlimited monthly plan, or MoviePass filing for Chapter 13, the inevitable is here: paying for luxury (aka, convenience). 🤑Retail investors and everyday big city millennials became accustomed to big valuations largely based on hype and speculation. 🤷‍♂️

⚡️✨It ain’t investing advice - I mean you do you, bb…but, just like we’re triple checking our Uber receipts and looking at classic cabs to get us to our destinations, maybe we shouldn’t be so quick to discount value investing or growth stocks so quickly. ✨⚡️

Quick News Bites

Instagram

Gen Z’s love authenticity right? Well they’re going to love Instagram’s head Adam Mosseri and his new blog. ✍️Here he creates transparency on the inner-workings of Instagram. For example, how Instagram determines what posts you see. 👀They're not the greatest revelations re-content algorithms but hey, maybe he’ll open up and give us a look into how a social platform affects our daily content-intake habits. Can one of y’all intern and show him the ropes? Thanks. 🙋🏻‍♀️

Yeezy's not better than the Gap

Be better than the Gap, they said…Seems like Kanye didn’t get the memo but good on him! The first piece from the very-hyped Kanye West/Gap collab 💙 (a blue puffy round jacket retailing for $200) sold out on the site. 💰 Some describe it as futuristic or cozy…others as a blue garbage bag lookalike. Again, we’re not here to judge. (Just a little. Love you. mean it).

Jeff's out of this world

Two weeks after stepping down as CEO of Amazon, Jeff Beezos will be riding his own rocket ship 🚀, the Blue Origin ... nice (risky) hobby for someone who will soon be going to retire. The trip is supposed to last about 11 minutes…🤠 

@Hauteunofficial on Instagram

Hold up…what am I reading, who are you, and what have you done to my investing knowledge? You're blowing my mind.

BB, chill…I know you want me but get in line. 

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