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Bored Ape Yacht Club NFT Sold For 90 ETH

The Bored Ape Yacht Club (BAYC) is an exclusive community for holders of the ape and mutant themed NFT collections on Ethereum's blockchain. Commonly referred to as the Bored Apes, only 10,000 generative art pieces will ever be in existence. read more.....»»

Category: blogSource: benzingaDec 4th, 2021

The NFT Calendar: Top-10 Upcoming NFT Drops Set To Dominate OpenSea

Crypto, DeFi, and NFTs are rolling out unprecedented opportunities for retail investors. Right now, top NFTs are the talk of the town, and folks are minting millions from their blockchain-based “JPEGs.” Q3 2021 hedge fund letters, conferences and more You don’t need to look far. OpenSea is on average transacting over $1 billion in trading […] Crypto, DeFi, and NFTs are rolling out unprecedented opportunities for retail investors. Right now, top NFTs are the talk of the town, and folks are minting millions from their blockchain-based “JPEGs.” if (typeof jQuery == 'undefined') { document.write(''); } .first{clear:both;margin-left:0}.one-third{width:31.034482758621%;float:left;margin-left:3.448275862069%}.two-thirds{width:65.51724137931%;float:left}form.ebook-styles .af-element input{border:0;border-radius:0;padding:8px}form.ebook-styles .af-element{width:220px;float:left}form.ebook-styles .af-element.buttonContainer{width:115px;float:left;margin-left: 6px;}form.ebook-styles .af-element.buttonContainer input.submit{width:115px;padding:10px 6px 8px;text-transform:uppercase;border-radius:0;border:0;font-size:15px}form.ebook-styles .af-body.af-standards input.submit{width:115px}form.ebook-styles .af-element.privacyPolicy{width:100%;font-size:12px;margin:10px auto 0}form.ebook-styles .af-element.privacyPolicy p{font-size:11px;margin-bottom:0}form.ebook-styles .af-body input.text{height:40px;padding:2px 10px !important} form.ebook-styles .error, form.ebook-styles #error { color:#d00; } form.ebook-styles .formfields h1, form.ebook-styles .formfields #mg-logo, form.ebook-styles .formfields #mg-footer { display: none; } form.ebook-styles .formfields { font-size: 12px; } form.ebook-styles .formfields p { margin: 4px 0; } Get The Full Henry Singleton Series in PDF Get the entire 4-part series on Henry Singleton in PDF. Save it to your desktop, read it on your tablet, or email to your colleagues (function($) {window.fnames = new Array(); window.ftypes = new Array();fnames[0]='EMAIL';ftypes[0]='email';}(jQuery));var $mcj = jQuery.noConflict(true); Q3 2021 hedge fund letters, conferences and more You don’t need to look far. OpenSea is on average transacting over $1 billion in trading volumes every month, and it looks like the wave is picking up. Their financial boat—now yacht—is rising with the tide for the savvy and those doing their due diligence. The good thing with crypto is that opportunities are pretty endless. They are present like the back and forth of waves on the oceanfront. Instead of losing hope, a closer look at top NFTs reveal that there are upcoming collections that may be diamond in the ruff, unrefined but with potential. To illustrate this, we took it upon ourselves to conduct a survey. We reached out to 1,000 NFT traders asking them to rate the attractiveness of the upcoming top NFT airdrops ranking them on several features, including virality, media presence, and uniqueness, on a score of between 1 and 10. Afterward, we compiled the average scores into a spreadsheet, summed them up, and sorted the average by the total score. # Name Uniqueness Potential increase in value Virality Media presence Execution Total Points 1 Journey of Stardust 10 10 9 9 10 48 2 The Message 9 10 9 10 9 47 3 Pixlr Genesis 8 9 9 9 10 45 4 The Last Raptor 8 9 9 9 8 43 5 Fin Society Fables 8 9 8 8 9 42 6 Remember Metaverse 7 8 8 8 9 40 7 Billionaire Tiger Club 8 9 7 7 8 39 8 Tokyo Pop Girls 9 7 6 7 9 38 9 Boredmafia Club 6 7 9 7 8 37 0 MoreCoin 6 6 9 7 8 36   The idea of averaging out parameters ranking and sorting out the total value based on best NFTs score was to quickly pick out projects which, according to top NFTs traders, are gaining traction and likely to post decent results in the future. Overview of the Top-10 NFT Drops to Watch Journey of Stardust A 360 Research Report projects the global comic industry to reach $4.69 billion in 2026, up from $3.87 billion in 2020. The Journey of Stardust is all about comics authored by Georgiana-Rada Sleam. The creators of this project are rolling out a 100-page piece of ERC-1155 NFT comics to tell the story of Stardust—a young wizard on an adventure. The BitColors NFT collection inspires the idea of Journey of Stardust. The Journey of Stardust’s NFT drop is ongoing on OpenSea, ending on December 2 at 5:00 pm, as the NFT calendar shows. The Message According to the creator, art shouldn’t be pleasing to the eye or ear. Besides, art shouldn't be programmatically generated without a soul like most PFP avatar collections. In the minter’s view, finesse can be discovered naturally or by accident. On OpenSea, the author of this NFT drop is auctioning a 640x480 pixel photo of his poop he took in 2004 using a Nokia 3660 (navy blue) in a public toilet of a bus station in Rybinsk. Pixlr Genesis Pixlr Genesis is an art-based metaverse by Pixlr—an online photo editor. There will be 10k art pieces to be sold in five phases. The first 2k artwork will each sell for 0.30 ETH. Eventually, Pixlr will launch the ART governance token and a decentralized museum to rival the Louvre, MOMA and National Gallery. The Last Raptor The public sale of the 1,923 “Last Raptor” NFTs begins on December 2. According to the author, The Last Raptor is a collection of unique, 1,923 degenerate Raptors with their own color palette and composition. The idea of the collection is to prioritize quality over quantity. Holders will also receive additional benefits. Fin Society Fables This is a collection of 10k unique fins roaming the deep waters of the OpenSea marketplace on Ethereum. There will be 5k male fins and 5k female fins, each with distinguishing characteristics. The objective of this collection is to bring awareness of Fins currently threatened by extinction. The Fin Society Fables will release three unique species of Fins’ animated artwork during the initial launch. Additionally, they will offer a sneak peek of Phase II, where male fins will be auctioned. Remember Metaverse The project describes itself as the world’s first commemoration NFT on the metaverse. Central to the mint will be their Memorial Stone NFT on the Ethereum blockchain residing on the Remember Metaverse. Each of the 5k Memorial Stone is unique and is the key to the Remember Metaverse’s Memorial Hall, where users keep the memories of their loved ones. The first mint is scheduled for December 8, 2021. Billionaire Tiger Club The digital club is for elite Solana members and comprises 9k unique NFTs. From the total, 8,940 are derived programmatically from hand-drawn portraits. The remaining, 60, are hand-drawn. Minted on Solana, each Billionaire Tiger will sell at a flat rate of 2 SOL. Ten percent of the mint sale will be split equally to the community treasury and Animal Protection Charities. Tokyo Pop Girls Collection The Tokyo Pop Girls Collection (TPGC) comprises 3k unique NFTs by Onigiriman—a Tokyo-based illustrator-- in collaboration with tofuNFT—a Binance Smart Chain (BSC)-based NFT marketplace. The creator will be banking on previous success on this NFT drop. His collection on OpenSea tops $830k, where the floor price of each piece is at 0.6 ETH. Each TPGC will be sold at a base price of 0.2 BNB, but an investor can mint up to nine TPGCs. Boredmafia Club The collection is made up of 5k unique Mafias with varying rarity levels on Ethereum, each selling starting from 0.079 ETH during the public sale on December 5 as set out on the NFT calendar. However, each NFT is available for 0.069 ETH during the presale on December 4.  Each mafia tag along with a collectible with guns and other accessories granting holders direct access to an NFT game. MoreCoin The platform is the future of experiences where 2k qualifies a holder to be a member. Its community is made up of entertainers, actors, celebrities, and models. At the moment, the creators of the portal are working with brand owners and artists to develop NFT digital goods for members. Only MORE coin holders will gain access. MORE is listed on Bittrex. Notable Observations As the above list reveals, the NFT calendar is packed with several top NFT drops in the next few weeks throughout December to early 2022. However, even with blockchain expansions, most projects are launching on Ethereum regardless of the limiting fees. OpenSea is the choice NFT marketplace for most projects; excerpt Tokyo Pop Girls Collection (TPGC) dropping on TofuNFT. Even still, few projects are willing to trailblazer and specialize in a niche, rebelling against the automation of most P2P avatar collections. The Journey of Stardust NFT drop is the only one breaking away and staying unique with the goal of clipping market share from the multi-billion comic book industry. Final Thoughts The NFTs space is another frontier in the evolving blockchain and crypto space, demonstrating how useful new technologies can be for creators. Still, despite commanding a multi-billion valuation, there is work to be done for uniqueness and differentiation, a laudable move the author of Journey of Stardust is doing.The future of NFTs, as the above top NFT drops hint, isn’t in bland auto-generated avatars passing for art. Instead, artists like Georgiana-Rada Sleam are getting their creative juices and minting unique laser-focused pieces with real-world utility diverging from the CryptoPunks era that’s peaking. Updated on Nov 29, 2021, 4:31 pm (function() { var sc = document.createElement("script"); sc.type = "text/javascript"; sc.async = true;sc.src = "//mixi.media/data/js/95481.js"; sc.charset = "utf-8";var s = document.getElementsByTagName("script")[0]; s.parentNode.insertBefore(sc, s); }()); window._F20 = window._F20 || []; _F20.push({container: 'F20WidgetContainer', placement: '', count: 3}); _F20.push({finish: true});.....»»

Category: blogSource: valuewalkNov 29th, 2021

See the designs of the $11 million luxury apartments inside the world"s biggest superyacht, which includes access to bars, restaurants, and a beach club

The $600 million Somnio Superyacht has 39 apartments and some have already been sold. The largest will cover nearly the entire top deck. Somnio Superyacht.Winch Design/Luttenberger Design The world's biggest yacht has revealed drawings of what its $11 million apartments could look like. Its maker, Somnio, said some apartments have been sold, but owners have to be invited to buy one. The largest apartment on the superyacht is set to stretch across nearly the entire top deck. At 728 feet-long, the Superyacht Somnio is set to be the world's largest yacht, costing around $600 million.Somnio Superyacht.Winch DesignSource: SomnioSomnio shared the first drawings of the apartments' interior designs with Insider ahead of the superyacht's launch in 2024.Apartments in Somnio Superyacht.Luttenberg DesignThe superyacht has 39 apartments which start from $10.8 million each. Some have been sold without the owners even viewing them, Somnio told Insider.Somnio Superyacht in Monaco Harbor.Winch DesignYou can't just buy one of these apartments though — you have to wait to be invited. The owners will be kept a secret, Somnio said.Apartments in Somnio Superyacht.Tillberg Design of SwedenSomnio said the apartments will be spread across six decks. The smallest one starts at 182m² of total space, while the largest one will be 963m² — a third of which will be an outside terrace.Apartments inside Somnio.Luttenberger DesignThe superyacht's biggest apartment is expected to take over nearly the whole of the top deck, Somnio said.Apartments in Somnio Superyacht.Luttenberger DesignApartment owners will work with three design companies for up to three months to choose the interior arrangements and decide on which materials, furniture, lighting, and artwork to have in their rooms, per Somnio.Apartment living area in Somnio Superyacht.Winch DesignSome apartments will have a kitchen, a gym, a library, dining areas both inside and outside on the terrace. There will also be a shared wine cellar and tasting room that contains 10,000 bottles, as well as restaurants, bars, and a beach club with watersports, Somnio said.Apartments inside Somnio.Luttenberg DesignThe design companies will also help to source knickknacks such as cutlery, towels, and bedding for each apartment. Owners can also add their own belongings to the interior design.Apartment living area inside Somnio Superyacht.Winch DesignThe designers will try to choose the most environmentally friendly materials and products for the interior design, Somnio said.Apartment living area in Somnio Superyacht.Winch DesignSomnio said the superyacht is set to travel around the world — apartment owners will visit the Mediterranean, spend a week in New York, sail to the South Pacific, and explore Antarctica on the yacht.Somnio Superyacht going under Sydney Harbor Bridge.Winch DesignOwners can stay or go whenever they please, Somnio told Insider. "It is their home."Apartment living area in the Somnio Superyacht.Winch DesignRead the original article on Business Insider.....»»

Category: topSource: businessinsiderNov 21st, 2021

What"s Going On With Nancy Pelosi"s Son?

What's Going On With Nancy Pelosi's Son? House Speaker Nancy Pelosi's son, Paul Pelosi Jr., has been called out by the Daily Mail over his close ties to "a host of fraudsters, rule-breakers and convicted criminals," yet has never been charged himself. Paul Pelosi Jr. (left), and his former cousin-by-marriage California Gov. Gavin Newsom (D), 2009 Once dubbed the 'rising prince' of the Pelosi political dynasty by the now-defunct Men's Vogue, Pelosi Jr. had "years-long repeated business dealings" with unsavory characters, in what may have been efforts to curry favor with the Democrat's powerful family. Via the Daily Mail, Pelosi Jr.'s links to alleged lawbreakers include: The 52-year-old joined the board of a biofuel company after it defrauded investors according to an SEC ruling, and whose CEO was convicted after bribing Georgia officials  Pelosi Jr. was president of an environmental investment firm that turned out to be a front for two convicted fraudsters  He joined a lithium mining company and received millions of shares, allegedly issued as part of a massive $164 million fraud  He was vice president of a company previously embroiled in an investigation of scam calls that targeted senior citizens  He has close business ties with a man accused by the Department of Justice of running a fake UN charity that stole investors' money  A medical company Pelosi Jr. worked for tested drugs on people without FDA authorization, according to an FDA investigation According to the report, "sources close to the Democrat power broker's son – and even Pelosi Jr. himself – admit that some of his business dealings may have arisen from savvy entrepreneurs hiring him in an attempt to curry favor with his powerful family." For starters, Paul Pelosi landed a $180,000 per year job as Senior Vice President at data company InfoUSA - while he was also a full-time loan officer at Countrywide Home Loans in San Mateo and had zero experience in database marketing. According to investigators, between 2001 and 2004, before Pelosi Jr. joined the company, InfoUSA knowingly sold fraudsters the data of millions of Americans - which was then used to scam elderly people out of their life savings. According to a 2007 New York Times report on the investigation, InfoUSA sold a list of 500,000 gamblers over age 55 called 'Oldies but Goodies', which described its members as 'gullible'. InfoUSA also sold lists of people with cancer or Alzheimer's called 'Suffering Seniors', the Times reported. The data company denied their lists had such titles. Iowa investigators found emails showing InfoUSA staff knew the firms they were selling to were being investigated for fraudulently targeting old people, but continued to sell the data regardless, the state's AG said. -Daily Mail More on Gupta from Inc.com: How about this for a story? A man leaves India for Omaha with $58 in his pocket. He starts a company in 1972 that reaches peak revenue of $400 million, spends a night in the Lincoln bedroom, puts Bill Clinton on its payroll, sails Bill on his 80-foot yacht with an all-female crew, and flies Hillary Clinton to campaign events on his corporate jet. And he’s as happy as a clam — despite getting sued by shareholders, being pushed out as CEO, incurring over $12 million in debts to settle shareholder lawsuits, and using insurance to pay $13 million to settle a lawsuit alleging that he sold his company — netting him $150 million for his 40% stake — at too low a price. The man is Vinod Gupta, former CEO of InfoUSA, a company that built a database that marketers use to sell everything from consumer products to politicians. Gupta got himself into a larger-than-life heap of trouble. And according to the Daily Mail, some people thought Gupta put Pelosi Jr. on his payroll to curry favor with his powerful mother. Jr. denied it at the time. "I don't think that's really what happens," Paul told NewsMax in 2007. "I don't see it that way, but I could see why you'd ask the question... I guess you always wonder why somebody hires you, right?" Meanwhile, Paul was recruited to be the president of an environmental investment company - Natural Blue Resources. According to 2014 charges against the company, Pelosi Jr. was recruited along with former New Mexico governor and AG Toney Anaya, to create the company and ostensibly find new underground aquifers in New Mexico. A SEC investigaiton, however, found that the company was "secretly controlled" by two convicted criminals - making Pelosi Jr. a cutout used (along with others) to let them "personally profit from the company without disclosing their past brushes with the law to investors." The two men? James Cohen and Joseph Corazzi. Cohen had previously been jailed for financial fraud, and Corazzi had been charged with breaking federal securities laws and was permanently barred from acting as an officer of a public company.  Though Anaya was charged, Pelosi Jr. was not. Pelosi Jr. served as president and board member of Natural Blue from its public stock exchange listing in August 2009 for five months, and served on the board of another company run by Cohen’s wife. -Daily Mail The SEC concluded that Pelosi Jr. didn't play a "meaningful role" in one of Natural Blue's key transactions, and "strenuously object[ed]’ to proposed fundraising contracts, was ousted from the board by the accused fraudsters," ultimately appearing as a witness for the prosecution. Then, in October 2013, Paul landed a job as VP of biofuel company FOGFuels - one month after the SEC announced that it had filed charges against the company and its founder, Paul Marshall (via the Mail). The federal complaint said Marshall stole $3 million from mostly elderly investors in FOGFuels and another of his companies 'to pay for a variety of Marshall's personal expenses, including luxury vacations, child support and alimony payments, and private school tuition and camps for his children.' At the same time, an Atlanta, Georgia official was found guilty of helping arrange city contracts for Marshall's wireless internet company in exchange for bribes. Marshall had previously agreed to cooperate with prosecutors in his $3 million fraud case, and was not charged in the bribery case. FOGFuels, of which Pelosi Jr. was Vice President at the time, also won an Atlanta City Council resolution to turn waste restaurant grease into biofuel. -Daily Mail Read the rest of the report here. Tyler Durden Fri, 01/14/2022 - 14:50.....»»

Category: blogSource: zerohedgeJan 14th, 2022

Lee & Associates – LA North/Ventura inks nearly $68M multifamily

 Lee & Associates LA North/Ventura’s National Multifamily Director Warren Berzack, negotiated the sale of a three-building multifamily portfolio located in the San Gabriel Valley for approximately $68 million.  The portfolio, located at 4405 Rosemead Boulevard, 5123-5205 Rosemead Boulevard, 4436-4438 Ivar Street, and adjacent 3815 Baldwin Ave., in El Monte, spans the Fashion Park... The post Lee & Associates – LA North/Ventura inks nearly $68M multifamily appeared first on Real Estate Weekly.  Lee & Associates LA North/Ventura’s National Multifamily Director Warren Berzack, negotiated the sale of a three-building multifamily portfolio located in the San Gabriel Valley for approximately $68 million.  The portfolio, located at 4405 Rosemead Boulevard, 5123-5205 Rosemead Boulevard, 4436-4438 Ivar Street, and adjacent 3815 Baldwin Ave., in El Monte, spans the Fashion Park Apartments, Glen Haven Apartments, and Fashion Lane Apartments, respectively, with a combined building size of 215,691 square feet and a combined lot size of 363,144 square feet. The portfolio was sold by the Hunsaker Family to Positive Investments.  Located in the San Gabriel Valley with easy access to nearby 10 and 210 freeways along with metro access, the properties offer a mix of one, two, and three-bedroom units, and single-family residences. Additionally, the building’s range of lush living amenities include swimming pools, club houses, secure entry, covered parking and carports, as well as plentiful area dining options, retail stores, schools, and recreational spaces, making its central location ideal for attracting tenants.   “The properties, all of which were in close proximity to each other, sold over ask with multiple offers in just three weeks,” said Berzack, who represented both parties. “This portfolio signals an extraordinarily strong demand for the multifamily market, particularly those that offer a value-add reposition play. There is also a limited quantity of large property types like this on the market. All of this, coupled with low-interest rates, excess liquidity, and high demand, created a tremendous appetite for this portfolio.”   The post Lee & Associates – LA North/Ventura inks nearly $68M multifamily appeared first on Real Estate Weekly......»»

Category: realestateSource: realestateweeklyJan 14th, 2022

The 24 best subscription boxes for food, drink, style, beauty, hobbies, and pets in 2022

From coffee and snacks to games and books, these are the best subscription boxes you can buy as gifts for yourself and everyone else in 2022. Prices are accurate at the time of publication.When you buy through our links, Insider may earn an affiliate commission. Learn more.Birchbox Subscription box services are great for anything you love to receive on a regular basis. They can help you discover new products, develop your hobbies, or add convenience to your life. If you're looking for more great products, check out our list of the All-Time Best products we've ever tested. By now, the subscription concept has been widely applied to pretty much anything you can buy, but it's most useful for the things you actually use and enjoy regularly. Whether that's razor blades for your daily shaving routine or books to read during your commute, a subscription box helps automate the process for buying and receiving products so you have more time to use said products. Subscription boxes can help you discover new products in an arena you're already interested in or figure out if you want to pursue a hobby further. They're like trial runs for your various interests or needs and usually a lot more affordable than a full commitment. Plus, subscription boxes are great for gifting. With one fell swoop, you can gift three whole months of discovering new wine or trying out different perfumes.If you do change your mind about your subscription, all the following services make it easy to skip next month's shipment or cancel your subscription.Here are the best subscription boxes in 2022Food and drinkBest wine subscriptionConnie Chen/InsiderWinc Monthly Wine Subscription (4 bottles)$29.95 FROM WINCOriginally $52.00 | Save 42%Subscription frequency: Every monthShipping fee: $9 for orders of three bottles or fewer; free for orders of four bottles or moreA la carte shop: Yes Gifting available: YesWinc's straightforward ordering process, on-trend wine curation, and reliable shipping make it the best online wine club we've tried in the last few years. If your interest in a wine subscription stems not only from the need for convenience but also the desire to expand your wine knowledge, Winc offers informative resources, easy-to-digest bottle descriptions, and a community ratings system to help you develop your palate. Winc delivers wine every month, but it's easy to adjust your membership to skip automatic shipments. Although it matches you to wines that it thinks you'll like based on your profile of tastes and preferences, you can also customize your shipment and browse Winc's complete catalog of varietals from all over the world.Runners-up: Firstleaf, for affordable wine and big discounts ($80/month)Plonk, for natural and biodynamic wines ($110/month) Read more about the best wine subscriptions we tested in 2022. Read our reviews of Winc and Firstleaf.Best coffee subscriptionTrade/InstagramTrade Coffee Monthly Membership$14.75 FROM TRADESubscription frequency: Every 1, 2, or 4 weeksShipping fee: FreeA la carte shop: YesGifting available: YesTrade is where you can order top-quality coffee from cool roasters all over the country, like Verve (Santa Cruz, CA), Cuvee (Austin, TX), and Huckleberry (Denver, CO). If you're the type to immediately seek out the local specialty coffee shop when you travel to a new city, then Trade's the best coffee subscription for you — and you don't even have to leave your house to receive your beans. All you have to do is tell Trade about how you take your coffee and it'll show you the best coffee you should be drinking every morning. It'll also provide the roaster's schedule for roasting and when your bag was roasted.Runners-up: Driftaway, for sustainability-focused, single-origin coffee ($14.40/shipment)Atlas, for exploring the global coffee scene ($14/shipment)Read more about the best coffee subscriptions we tested in 2022. Read our reviews of Trade, Driftaway, and Atlas.Best tea subscriptionSips bySips by Monthly Tea Subscription$16.00 FROM SIPS BYSubscription frequency: Every monthShipping fee: FreeA la carte shop: YesGifting available: YesSips by is a personalized tea subscription that sends you four different teas (enough to make at least 16 cups) every month, so your tea rotation always stays new and exciting. You'll get to explore teas from big and familiar brands as well as local tea shops and farms and choose from loose leaf, bagged, herbal, and caffeinated teas. If you weren't already familiar with all the benefits of tea, how to steep your tea, and the differences among all the tea types, Sips by shares plenty of educational resources to strengthen your tea knowledge. Plus, the subscription considers your taste and steep preferences — we loved the personal touch. Runners-up: Atlas Tea Club Starter Pack, for single-origin and global teas ($14/shipment)David's Tea Tasting Club, for exclusive and seasonal tea blends ($35/shipment)Read our review of Sips by.Best beer subscriptionBeer of the Month ClubBeer of the Month Club Subscription$31.95 FROM BEER OF THE MONTH CLUBSubscription frequency: Every monthShipping fee: $15 A la carte shop: No Gifting available: YesChoose from five different beer memberships in this club: Microbrewed, Hop Heads, Rare Beers, International, and US and International. Each of these clubs gives you 12 12-oz beers in different styles from a few different breweries, plus brewery profiles and tasting notes. It's the most convenient way to tour breweries in the US and around the world. The original club started in 1994, and its panel of brewmasters and beer judges only pick out a mix of the most interesting and innovative craft beers every month. The diversity of options means you can stop pigeonholing yourself into drinking (and pretending to enjoy) IPAs.Runners-up: Tavour, for mobile-first beer orders (Price varies)Craft Beer Kings, for fun and creative flavors ($70/shipment)Best cocktail subscriptionCocktail Courier/InstagramCocktail Courier Classic Cocktail Kit Subscription$49.99 FROM COCKTAIL COURIERSubscription frequency: Every 1, 2, or 4 weeksShipping fee: FreeA la carte shop: YesGifting available: YesUnless you keep your bar cart fully stocked and meticulously updated, it can be a hassle to source all the ingredients for a specialty cocktail you want to make. Let's also not forget that going out for happy hour requires putting on clothes. Cocktail Courier makes kits based on recipes from top bartenders and sends you all the ingredients you need, including the spirits. Keep in mind, though, you do need your own basic equipment, like glassware and a shaker. For the subscription, just choose your favorite spirits and you'll only be sent kits with those spirits. There's also an option for just the mixers and garnishes, if you prefer to use your own alcohol. Runners-up: Shaker & Spoon, for a variety of cocktails that focus on one spirit (from $40/shipment)SaloonBox, for group cocktail parties (from $57/shipment)Best snack subscriptionSnackCrate/InstagramSnackCrate Original Snack Box Subscription$21.99 FROM SNACKCRATEOriginally $26.99 | Save 19%Subscription frequency: Every monthShipping fee: FreeA la carte shop: NoGifting available: YesOne of our favorite things to do when visiting a new country is to scour the snack aisles of the local grocery store. SnackCrate brings that same excitement and discovery process to your door. Every month's snack box focuses on a different country and includes full-sized snacks directly imported from that country. You'll also get a music playlist and booklet of games and facts related to the country. There are three box sizes available to suit everyone from occasional grazers to snack aficionados. Runners-up: Mouth, for gourmet snacks from indie makers ($60/month)Bokksu, for authentic Japanese snacks ($49.95/month)Read our review of Bokksu.Best cheese subscriptionMurray’s Cheese/InstagramMurray’s Classic Cheese of the Month Club$63.00 FROM MURRAY'SSubscription frequency: Every monthShipping fee: FreeA la carte shop: YesGifting available: YesNew York City institution Murray's Cheese offers a few different monthly clubs that let you get your fix for creamy, stinky, soft, smoky, and hard cheeses. It's part indulgence, part educational experience. The Classic Club is great for people who want a reliable way to enjoy cheeses you might not have heard of but still have an approachable flavor profile — think Montealva, a flaky and citrus-y goat's milk cheese from Spain or The Farm at Doe Run's butterscotch-infused cheese. If you want something more adventurous, try the Cheesemonger's Picks club instead. Runners-up: Curdbox, for cheese plates including sweet and savory pairings ($49.95/month)Jasper Hill, for special release and limited-edition cheese from Vermont ($100/month)Read our review of Murray's Cheese of the Month Club.Best meat subscriptionButcherBox/InstagramButcherBox Mixed Box$137.00 FROM BUTCHERBOXSubscription frequency: Every monthShipping fee: FreeA la carte shop: NoGifting available: YesIn addition to pre-curated boxes of grass-fed beef, free-range organic chicken, and crate-free pork, ButcherBox lets you choose from more than 25 different cuts to make your own custom box. It's an easy way to get high-quality meat (up to 14 pounds every month) without having to visit your local butcher or farmer's market. The subscription is also flexible in case you don't need that much meat every month. But if you're feeding a lot of mouths, hosting a barbeque, or just enjoy eating meat, you'll want to take advantage of ButcherBox's value every month.Runners-up: Porter Road, for underrated cuts of meat and the best variety (Price varies) Snake River Farms, for high-end meat like American Wagyu ($225/shipment)Read more about the best meat subscriptions we tested in 2022. Read our reviews of ButcherBox, Porter Road, and Snake River Farms. Best meal kit subscriptionBlue Apron/InstagramBlue Apron Meal Kits (3-meal, 2-serving)$53.94 FROM BLUE APRON Subscription frequency: Every weekShipping fee: FreeA la carte shop: NoGifting available: YesBlue Apron's flavorful, creative takes on familiar recipes and reliable, accurate delivery make it the best meal kit you can subscribe to. It's versatile and flexible, with meal options for all kinds of dietary preferences, a variety of plans for two- and four-person families, and add-ons like meat and seafood bundles, spice blends, and cookware and tools. There's even a wine add-on to complete your dining experience. The meals (like chimichurri tilapia, one-pan prosciutto gnocchi, and sambal-peanut chicken noodles) are always delicious and the portions are generous — you'll even have leftovers,  sometimes. The menu updates frequently and we rarely see the same recipe twice.Runners-up: Sunbasket, for organic ingredients and health-conscious recipes ($71.94/3-meal, 2-serving plan)Everyplate, for the most affordable yet filling meals ($39.93/3-meal, 2-serving plan)Read more about the best meal kit subscriptions we tested in 2022.Beauty, grooming, and styleBest beauty subscriptionBirchbox/InstagramBirchbox Beauty Subscription Box$13.00 FROM BIRCHBOXSubscription frequency: Every monthShipping fee: FreeA la carte shop: YesGifting available: YesBirchbox's mission is to make the vast world of beauty and skincare fun and less intimidating by giving you the freedom to sample tons of different products. Every month's affordable beauty box contains five samples you might like based on your Beauty Profile, featuring a variety of new and upcoming brands and products (makeup, skincare, haircare, fragrance).The brands included reflect Birchbox's core values of sustainability, inclusivity, and supporting women. For example, there's a limited edition Brown Girl Jane box which is made by and for Black women's wellness. Once you've tried a sample you really love, you can directly shop the full-sized product at Birchbox's shop. There's also a Grooming section with hair, face and body, and shaving essentials.Runners-up: Kura, for clean skincare bundles customized to your needs (from $99/shipment)Prose, for personalized haircare like shampoo and hair masks (Price varies)Read more about the best beauty subscription boxes we tested in 2022. Read our reviews of Birchbox and Prose.Best shaving subscriptionDollar Shave Club/InstagramDollar Shave Club Starter Set$10.00 FROM DOLLAR SHAVE CLUBSubscription frequency: Every 2, 3, or 4 monthsShipping fee: FreeA la carte shop: Yes Gifting available: YesThere are a variety of ways you can get sharp and budget-friendly razor shipments from Dollar Shave Club: the first is the Starter Set, which costs just $5 ($20 every two months afterward) and acts as your trial run for the shave subscription. Or, you can take the site's quiz to receive a personalized recommendation of products based on your hair type and shaving needs. Either way, this famous online shave club offers plenty of flexibility so that you'll always have a supply of razor blades and soothing post-shave essentials whenever you need it. Runners-up: Billie, for fun yet practical razors ($9/shipment)Harry's, for sleek designs and other body care products ($15/shipment)Read our reviews of Billie and Harry's.Best men's clothing subscriptionAmir Ismael/InsiderMenlo Club Subscription$20.00 FROM MENLO CLUBOriginally $60.00 | Save 67%Subscription frequency: Every monthShipping fee: FreeA la carte shop: YesGifting available: YesMenlo Club, the styling service loved by NBA stars and our own senior style reporter, curates two to three pieces for you per month based on your style preferences and clothing sizes. Brands include Five Four, Grand AC, and New Republic, and the pieces are easy to incorporate into your existing wardrobe. It's your best bet if you don't like or have time for clothing shopping because it offers high-quality clothing with plenty of variety. You can exchange sizes for free and you'll also get perks like exclusive discounts and early access to drops.Runners-up: Stitch Fix, for clothing picks made by your own personal stylist ($20/shipment)Gentleman's Box, for stylish accessories like ties and socks ($35/shipment)Read more about the best men's clothing subscriptions we tested in 2022.Read our review of Menlo Club.Best women's clothing subscriptionRent the RunwayRent the Runway 2 Swaps$85.00 FROM RENT THE RUNWAYOriginally $135.00 | Save 37%Subscription frequency: Every monthShipping fee: FreeA la carte shop: YesGifting available: YesWith over 750 designers to choose from, Rent the Runway is the closet of your dreams for special occasions like weddings, workwear essentials, or simply to add excitement to your regular wardrobe. Its most popular plan lets you rent four pieces at a time, twice a month, for just $99 a month (for the first two months). We've always found it easy to pick out, wear, and return dresses, tops, loungewear, and accessories from the service. It's all the fun and excitement of wearing designer clothing, without the exorbitant price tags or complicated dry cleaning.Runners-up: Stitch Fix, for clothing picks made by your own personal stylist ($20/shipment)Nuuly, for affordable rentals from Urban Outfitters, Anthropologie, and Free People ($88/shipment)Read our review of Rent the Runway.Best jewelry subscriptionRocksbox/InstagramRocksbox Monthly Jewelry Subscription$21.00 FROM ROCKSBOXSubscription frequency: Every monthShipping fee: FreeA la carte shop: YesGifting available: YesThe right jewelry can bring an outfit to the next level, and with Rocksbox, the search for the perfect ring, earring, necklace, or bracelet is easy and very affordable. The $21 monthly membership gets you three pieces of jewelry from brands like Kendra Scott, Slate, 8 Other Reasons, and more, and the best part is you can swap the pieces as many times as you want during the month. If you fall in love with a piece and decide to buy it, your membership fee turns into a credit towards your purchase, saving you even more money.Runners-up: Switch, for luxury and fine jewelry like Hermes and Chanel (from $40/shipment)Rowan, for hypoallergenic earrings and fun freebies ($35/shipment)Best underwear subscriptionMeUndies/InstagramMeUndies Monthly Subscription$14.00 FROM MEUNDIESSubscription frequency: Every monthShipping fee: FreeA la carte shop: YesGifting available: YesMeUndies makes incredibly soft and comfy underwear in a variety of cuts and a huge selection of fun, ever-rotating prints and patterns. Though new underwear every month may seem unnecessary, you might just change your tune once you try a pair from MeUndies. All its fabrics are breathable and stretchy and last through years of washes. The part to look forward to the most? Collecting all the unique prints, which have included sharks, a "Space Jam" collaboration, and sun-tanning alligators in the past.Runners-up: Underclub, for designer underwear in a range of styles (from $15/shipment)Savage by Fenty Xtra VIP, for access to monthly drops and exclusive deals from Rihanna's lingerie brand ($49.95/shipment)Read our review of MeUndies.Best subscription for perfume and cologneScentbird/InstagramScentbird Subscription Box$15.95 FROM SCENTBIRDSubscription frequency: Every 1, 2, or 3 monthsShipping fee: FreeA la carte shop: YesGifting available: YesFragrance is so personal to each individual person that it only makes sense to turn buying perfume or cologne into a sampling experience. Scentbird is home to over 500 fragrances from designer and indie brands, letting you discover your signature scent, add some variety to your current fragrance lineup, or simply try fragrances you wouldn't have access to otherwise. You'll be able to try perfume and cologne from Versace, D&G, Acqua di Parma and more. Each 8 mL sampler bottle holds about 140 sprays — enough to use a couple times a day, every day of the month.Runners-up: Scentbox, for an even larger variety of fragrances to choose from ($9.72/shipment)Skylar Scent Club, for limited-edition rollerballs made with clean ingredients ($20/shipment)Hobbies and interestsBest flower subscriptionLauren Savoie/InsiderBloomsyBox Flower Subscription Service$44.99 FROM BLOOMSYBOX$38.99 FROM AMAZONOriginally $44.99 | Save 13%Subscription frequency: Every monthShipping fee: FreeA la carte shop: YesGifting available: YesSome people like food or shoes or jewelry, but for us, flowers are the ultimate monthly pick-me-up. BloomsyBox's monthly flower delivery service features one unique bouquet of 22-24 stems, and though you can't pick the exact flowers you want, the ones we've received from the service have always been gorgeous. It's a lovely way to liven up your home with new and interesting arrangements and the flowers arrive fresh and undisturbed. Be on the lookout for cool, limited-time collaborations, like the current partnership with the New York Botanical Garden.Runners-up: UrbanStems, for timeless arrangements and deliveries as frequent as every week ($55/shipment)Read more about the best flower delivery services we tested in 2022. Read our reviews of Bloomsybox and UrbanStems.Best plant subscriptionHorti/InstagramHorti Month-to-Month Plant Subscription$28.00 FROM HORTISubscription frequency: Every monthShipping fee: $8-$12A la carte shop: YesGifting available: YesHorti is best for beginner plant enthusiasts who are interested in starting a plant collection but may not know where to start or how to learn the basics of plant care. Horti's subscription is strategically designed so you begin with hardy, low-maintenance plants but eventually graduate to more complex species as you develop your confidence and experience. Each one always comes in a hand-painted pot (or you can opt for just the naked plants) and sometimes you'll also receive planting tools and accessories. Runners-up: The Sill, for a robust variety of medium-sized, easy care plants ($50/shipment)The Plant Club, for unique, seasonal plants ($39/month)Read our review of The Sill. Best book subscriptionBook of the Month Club/InstagramBook of the Month Membership$9.99 FROM BOOK OF THE MONTHOriginally $15.99 | Save 38%Subscription frequency: Every monthShipping fee: YesA la carte shop: YesGifting available: YesAs the OG national book club (since 1926!), Book of the Month has book curation down to a science, with its finger on the pulse of all the books that everyone seems to be reading and talking about lately. Every month you have the opportunity to choose from five hardcover books representing a variety of genres. Whether you're trying to start up a reading habit or already a voracious reader, the consistent shipments will keep you on track and make you a more well-read citizen. It also offers a separate, formal Book Club service where you can organize your own book club with anyone in your circle.Runners-up: Owl Crate, for signed young adult books and extra freebies ($32.99/shipment)Next Big Idea Club, for nonfiction books curated by big names in business and psychology ($21/month)Read our review of Book of the Month. Best game subscriptionUnbox Boardom/FacebookUnbox Boardom Monthly Subscription$29.99 FROM UNBOX BOARDOMSubscription frequency: Every 1, 2, or 3 months Shipping fee: $5 A la carte shop: YesGifting available: YesIf you like to unplug and unwind with a board game, try the cleverly named Unbox Boardom subscription. Each month, you can either choose a new game yourself or let the gaming experts choose one for you. The membership has all kinds of unique games (strategy, family, trivia, and more) that you haven't heard of before and will keep you well occupied throughout the year. Soon enough, you'll have a healthy stack of games to choose from any time you want to exercise your brain a bit. Past games have included Photosynthesis, a strategy game where you chase the sun to grow trees and Sabordage, a mayhem-filled pirate adventure.Runners-up: Video Games Monthly, for classic and retro video games (from $34.99/shipment)Finders Seekers, for mystery and escape room games ($30/shipment)Best crafting subscriptionThe Crafter’s Box/InstagramThe Crafter's Box Monthly Membership$65.00 FROM THE CRAFTER'S BOXSubscription frequency: Every monthShipping fee: FreeA la carte shop: YesGifting available: YesFor people who love working with their hands, The Crafter's Box offers the convenient and affordable opportunity to try out different kinds of crafts and learn from real working crafters. In addition to the kit of materials, you'll receive access to a digital workshop and live chat with a community of fellow craft lovers. The exciting lineup of craft options include fabric weaving, leather sandal making, paper making, soap making, and contemporary quilting. Since The Crafter's Box sends you all the materials you need, you can test drive various crafting types and figure out the one you love the most before you drop an entire month's paycheck at Michael's.Runners-up: Kiwi Doodle Crate, for creative projects designed for teens ($22.95/shipment)Adults and Crafts, for small, approachable projects ($33/shipment)Read our review of KiwiCo Crates. Best subscription for kidsAlicia Betz/InsiderKiwico Crates$19.95 FROM KIWICOSubscription frequency: Every monthShipping fee: FreeA la carte shop: YesGifting available: YesCreated by an engineer and mother of three, KiwiCo makes kits with toys and activities for kids of every age, from newborns to 14-year-olds. The science and art projects, designed by educators and scientists including but not limited to mechanical and industrial engineers, are age-appropriate and teach kids important skills like creative problem-solving, curiosity and tinkering, and hands-on craft. The beauty of KiwiCo is it frees up time for parents: time spent researching activities to do, and time spent participating in those activities with their kids. Though parents can certainly join in on the fun, the kits work best when the child can play independently.Runners-up: Lovevery, for developmental play kits for babies and toddlers (Price varies)Baketivity, for kid-friendly baking kits ($32.95/shipment)Read our reviews of KiwiCo and Lovevery. Best subscription for dogsKate Barrington/InsiderBarkBox Single Box$35.00 FROM BARKBOXSubscription frequency: Every monthShipping fee: FreeA la carte shop: YesGifting available: YesDogs and their owners love this popular subscription box, which sends toys, treats, and chews revolving around a creative theme each month. When you sign up, you'll share info about your dog, including its breed, birthday, and dietary restrictions, so that Barkbox can send a personalized collection of items. The plush toys in particular are a pup favorite. Soft, squeaky, and durable, they're made for play. Barkbox also has the best themes and collaborations we've seen around, from movie character chews and toys to a winter cabin getaway bundle.Runners-up: Pupbox from Petco, for treats, toys, and training resources specifically for puppies ($39/shipment)Kongbox, for highly rugged Kong products and especially playful dogs ($44.95/shipment)Read our review of Barkbox.Best subscription for catsMeowboxMeowbox Monthly Subscription$22.95 FROM MEOWBOXSubscription frequency: Every 1 or 2 monthsShipping fee: FreeA la carte shop: YesGifting available: YesSometimes hair ties, lights, and cardboard boxes just won't cut it for your cat. That's where Meowbox comes in. Every box has five to six items, including high-quality toys and organic or grain-free treats that are always produced in the US or Canada. Plus, for every box sold, Meowbox donates a can of food to a cat shelter. It even provides a unique code you can use to track exactly where your donation has gone. Like Barkbox, Meowbox offers adorable themed products, like a summer fishing bucket hat or a "skippy kitty rope" and kettlebell for cat-owner workouts. The a la carte shop also features paraphernalia for the owner so you don't feel left out of the fun.Runners-up: KitNipBox, for extra treats and toys if you have more than one cat ($22.99/shipment)RescueBox, for a subscription box with high impact ($29.95/shipment)Read the original article on Business Insider.....»»

Category: topSource: businessinsiderJan 13th, 2022

Building Your Luxury Sphere of Influence from the Ground Up

So, you’re a new luxury real estate professional in the area, and you’re wondering how to go about building your luxury sphere of influence from the ground up. Without a real list of buyers and sellers, how on earth can you expect to do your job? Well, good news is that luxury real estate professionals […] The post Building Your Luxury Sphere of Influence from the Ground Up appeared first on RISMedia. So, you’re a new luxury real estate professional in the area, and you’re wondering how to go about building your luxury sphere of influence from the ground up. Without a real list of buyers and sellers, how on earth can you expect to do your job? Well, good news is that luxury real estate professionals like Liz Heinkel have shared their stories of how they started afresh in communities with absolutely nothing, and what it took to successfully build a robust, profitable, and even record-setting brokerage influence on a community that beforehand never knew she existed. How to Build a Sphere of Influence in Luxury Real Estate These are a few foundational luxury networking tips that will surely foster grass-roots growth for your luxury home marketing and buyer/seller network that have been proven true time and time again by the success of some of the most successful luxury real estate professionals to date. Seek Out Mentorship If you’re a new real estate professional lacking knowledge, it would be in your best interest to go with a larger company/brokerage that has daily training and mentorship opportunities. Some companies even offer business coaching in-office on a daily basis, but you can’t expect that everywhere. Unfortunately, many brokerages don’t have one-on-one sessions or training, leaving you to fend for yourself. So, don’t be afraid to ask for help! Confidence in yourself is important, even in the way you carry yourself before your clients. If not, clients won’t be confident in your abilities as their trusted luxury real estate professional. Knowledge is power — of the neighborhoods you’re selling in, for instance. People will trust you to guide their decision-making. Get Involved In Your Community The real work involved in building your network of friends is getting involved in your ideal farming location. If you’re gonna live and broker in a community, find something you’re passionate about giving back to the community. This is the only way you’ll win the trust as an outsider coming in. Join different groups, like political organizations, yacht clubs, rotary clubs, etc. Develop your network of friendships/relationships with those you rub shoulders with and get to know during meetings or group activities. But make sure not to over join, and don’t join solely with the intention of drumming up new business (this should never be your primary focus as a community member). Join a group or organization you are passionate about giving back to and make genuine connections with those around you—without a business-focus-first approach. If you can find your way around like-minded people, you’re likely to get some new clients out of it as a result. Heinkel mentioned her own experience in her downtown community’s rotary club she had joined, and even became president of, recalling “a couple of Rotarians that reached out to me to sell their house.” It happens over time. Remember, it’s all about the long game when forming relationships. Leave a Personal Touch Write your “thank you” notes with personal touches, especially to those who send you referrals. Make sure you’re also making personal phone calls, keeping in touch, and staying top of mind, or else your client might feel neglected and start looking elsewhere. Personal touch is really the most important element of ongoing contact with your referrers, buyers, and sellers. Hundreds of dollars of postcards amount to nothing without actively engaging with your sphere of influence. Block Your Time for Relationship Building Taking people to lunch or having coffee is a great way to really humanize your relationship with your clients, but it can also take quite a lot of your time — too much if you’re not careful. Make sure to be selective, and don’t overwork yourself. What does your week look like for time blocked for personal connections? Keep up with your list of buyers and sellers, noting those you haven’t connected with in awhile. When it comes down to it, especially if you’ve got a long list and a busy schedule, some of your contacts are likely to fall off the radar regardless. But don’t beat yourself up! You will find your niche clientele so long as you remain genuine in your network building in your target area of interest. Define Your Intention/Passion Set your intention. Know exactly where you want to farm, and simply participate and be as involved as you can in the area. Attend local events, visit the beach, frequent local businesses like cafes, popular brunch spots, or the hottest local restaurants. Check out any social groups that meet in the area of your niche interest. Focusing very clearly on your intention will only support your quest to find those quality client connections waiting for you. Don’t waste your energy or focus on competing real estate professionals and brokers. Always focus on the object of your passion instead. Implement these foundational principles in your network growth strategy, and before you know it, you’ll find yourself on your way to establishing a stronghold in your niche location. Become an Institute member today and get access to some of the top producers in the industry and ready-to-use marketing tools giving you the competency and competitive edge no matter your niche real estate market. The Institute also offers a wide range of resources for you to invest in yourself at any stage in your luxury real estate career—even if you’ve just begun! Diane Hartley is the president of the Institute for Luxury Home Marketing, a premier independent authority in training and designation for real estate agents working in the upper-tier residential market. Hartley brings her passion for luxury marketing and more than 20 years of experience growing and leading businesses to her role as president of the Institute. The post Building Your Luxury Sphere of Influence from the Ground Up appeared first on RISMedia......»»

Category: realestateSource: rismediaJan 13th, 2022

51 gifts for teens that they won"t toss away in their closet, from a popular hair dryer to a tie-dye kit

The best gifts for teens are ones they'll actually want to use, like tech gadgets, beauty products, and cool accessories. Here are 51 unique gifts. Prices are accurate at the time of publication.When you buy through our links, Insider may earn an affiliate commission. Learn more.One of the best gifts for teens is a portable, waterproof speaker they can bring with them on trips with friends.Amazon It's never easy to shop for a teenager, especially if their tastes change frequently. We rounded up 51 gifts to make it easier to find the perfect gadget, game, or accessory.  Browse all of Insider Reviews' gift guides for more great gift ideas. Being a teenager is tough, but trying to buy a gift for one is even harder: They can be picky and fickle when it comes to what products they want. Sometimes, the best way to show a teen that you care is just to listen, and sometimes it's a thoughtful gift to show them you see them.To make the gift search easier, we curated 51 gifts ranging from a card game to a smartwatch to a quick-drying hair towel at various price points to ensure as many options as possible.If you are still unsure of what to get (and you can't ask them directly) try consulting their friends. Either way, a smart general rule of thumb is to make sure your gift is returnable. The 51 best gifts for teens: A tie dye kit they can use for a fun at-home activityTargetTulip 37pc One Step Tie Dye Kit, available at Target, $9.99They can revitalize white clothes and spend a few hours having fun doing something creative, whether solo or with family or friends.This one-step hair dryer brushElana Rubin/InsiderRevlon Salon One-Step Hair Dryer and Volumizer Hot Air Brush, available at Target, $54.99Who doesn't love a one-step tool that feels luxurious? This popular round brush acts as a hairdryer while they brush, giving their hair volume without much finesse or time. You can find a full review of the Revlon One-Step here. An Apple AirTag to keep track of their belongingsLisa Eadicicco/InsiderApple AirTag, available at Target, $29.99The teenager in your life can attach this tag to their backpack, wallet, keys, or any other easily lost item and find it easily with the Find My app whenever they've misplaced it. Using the app, they can opt for the tag to play a sound until they've found their keys sandwiched between couch cushions or their wallet in the pantry.A board game that feels like a video gameAmazonCephalofair Games Gloomhaven Multi-Award-Winning Strategy Boxed Board Game, available at Amazon, $111.47This collaborative board game (good for one to up to four players) is sort of like Dungeons & Dragons, Magic the Gathering, and other cult-favorite fantasy adventure games that forces its players to contend with monsters and mercenaries, explore a new world, and discover treasure and fame. Players make tactical decisions, and the game unfolds in reaction to their choices. Disposable cameras to help them stay in the momentAmazonFujifilm Instax Mini 9 Instant Camera, available at Amazon, $69.04Funsaver One Time Use Film Camera (2-pack), available at Amazon, $45.30Disposable cameras are popular right now, partly because of the nostalgic aesthetic of a polaroid and partly because of their simplicity. Spending so much time immersed in technology — and combatting the temptation to retake and edit photos in real-time — keep us from staying present.Disposable film cameras or polaroids help preserve memories without adding to their screen time. Plus, they give them cute photos to decorate their room with!Glossier's fan-favorite productsGlossierBoy Brow + Balm Dotcom + Futuredew Pack, available at Glossier, $42No-makeup makeup is in right now and, if your teen is into beauty products, they may appreciate a gift from Glossier, which is the "natural and glowy" brand Olivia Rodrigo says she wears in her Vogue beauty diary.We'd recommend a gift card or a pack like the Boy Brow + Balm Dotcom + Futuredew pack, which covers three of its fan-favorite products.A great bookAmazon"Ready Player One" by Ernest Cline, available at Amazon and Bookshop, from $11Books are an incredible gift if your teen is a reader. It can translate into hours of enjoyment at a minimum and, at its best, a favorite story that follows them well into adulthood.Plus, if you've read the book, it can also mean great conversations about it or movie adaptations to watch together. It's also a gift where money doesn't really matter; you can find a great read for $20 and spending more won't make much difference.Some book suggestions:"All the Bright Places," a popular YA book on TikTok"Scythe," a bestselling dystopian YA book similar to "The Hunger Games"The best young adult books, according to a teenagerThe best young adult romance booksThe best young people's literature of 2021 according to the National Book AwardsThe best books we read in our 20sAn eco-conscious tie-dye beanieFree The EarthFeel the Earth Breathe Tie Dye Beanie, available at Free People, from $40These unisex tie-dye beanies come in cool colors and with a unique plant logo. (To date, the Parks Project has reportedly contributed over $2,000,000 to help fund vital projects in national parks around the US).Ribbed beanies are big right now, à la the popular Carhartt beanie. If they've got that staple covered, the Parks Project also has tube socks. A splashproof, portable Bluetooth speaker perfect for outdoor tripsAmazonUltimate Ears Wonderboom 2, available at Amazon, $98This rugged, compact speaker can go with them anywhere. It's waterproof, has an "outdoor boost" button specifically for listening outside, is "drop-proof," and boasts a 13-hour battery life.A plush toy that they can heat upUrban OutfittersSmoko Mini Toasty Heatable Plushie, available at Urban Outfitters, $18Whenever they need some cozy comfort, they can heat up this cute animal-shaped heating pad for a snuggle.A portable phone chargerAmazonElecjet Powerpie Portable Charger, available at Amazon, $54.99This handheld charger can charge up your teen's smartphone or various devices like an iPad or small laptop so they can stay in touch, turn their paper in on time, or just never have to stress about 5% battery life.Sheet masks to go with a Netflix marathonAmazonTONYMOLY I'm Real Sheet Masks, available at Amazon, $26There are few things my 15-year-old sister loves more than oversized hoodies, Boba, and an endless supply of sheet masks. Grab a pack, throw them on, and make a night out of it with your teen's favorite candy and TV show.A pair of trendy, easy-to-use AirPodsAppleApple AirPods Pro with Charging Case, available at Target, $199.99If you're after the title of their favorite relative of the year, here's a good place to start. AirPods are both easy to use and functional as well as trendy. A Boba-shaped AirPods Pro caseUrban OutfittersSmoko Boba Tea AirPods Pro Case, available at Urban Outfitters, $18As I mentioned, part of my 15-year-old sister's ideal trifecta is Boba. You can pick up a cute, fun case no matter what their interest is — Baby Yoda, gaming, Boba, or whatever else. A Bluetooth water bottle speakerGrommetBluetooth Water Bottle Speakers, available at Grommet, $39.95This Bluetooth water bottle speaker offers a boost of hydration and fun for everyone. The water-resistant speaker resides at the top, ensuring greater sound quality that lasts 6-10 hours. It's the perfect accessory for them to bring to every hang-out session. A slim leather walletAmazonBellroy Slim Sleeve Leather Wallet, available at Amazon and Bellroy, $79This thin wallet is a subtle nudge toward minimalism, something many teens appreciate. The Bellroy Slim Sleeve wallet offers room for up to eight cards and a pocket to stash cash. It comes in a variety of colors and features environmentally certified leather.An eco-friendly phone casePelaPela Phone Case, available at Amazon and Pela, from $38.95Pela offers a wide variety of biodegradable cases for iPhone and Android, all made from plant-based polymers. Pela cases are rugged enough to offer drop protection, and if a phone has both a Pela case and screen protector but still cracks, Pela will cover the bill to get it fixed.A comfortable and sustainable Patagonia pullover they'll wear all the timePatagoniaLightweight Synchilla Snap-T Pullover, Men, available at Patagonia, $119Patagonia Women's Better Sweater 1/4-Zip Fleece, available at Patagonia, $119A Patagonia sweater is a particularly good gift for teens who are interested in sustainability. The company has been turning plastic bottles into polyester for its clothing since 1993 and continues to do so today.Its Snap-T pullover is the unofficial uniform of the cozy adventurer. It and the Better Sweater are long-held favorites, and both are comfortable classics that they'll no doubt come to rely on heavily during colder weather.Not sold on the Patagonia option? They may also appreciate the Acadia Recycled Polar Trail Fleece from the environmentally-conscious Parks Project.A gift card for stylish new glassesWarby ParkerGift Card, available at Warby Parker, from $50Teens are a notoriously picky bunch, so you can never go wrong with a gift card. If they're in the market for new glasses or sunglasses, we recommend Warby Parker because of its versatility, size flexibility, and free at-home try-on program. An Amazon Echo Dot for hands-free calls, alarms, music, updates on the weather, and moreAmazonEcho Dot (4th gen), available at Best Buy, $34.99The Amazon Echo Dot is the most popular Amazon device for a reason — it's compact and has all the capabilities of Alexa (weather updates, recipes, music, news) without any of the bulk. A smartphone-sized travel photo printerTargetHP Sprocket 200 Photo Printer, available at Amazon and B&H Photo, $79.99This tiny, compact device prints photos with sticker backing on ZINK film with Zero Ink technology. It connects to devices via Bluetooth, and multiple devices can connect at once (personalized LED lights indicate who's currently printing). String lights with clips for photosAmazon/Business InsiderPhoto Clip LED String Lights, available at Target, $10Perfect for creating the archetypal teen room that's most often seen in Netflix movies and old Taylor Swift music videos, the photo clip string lights combine warm light and Polaroids (or other memorabilia). A trendy Champion sweatshirtUrban OutfittersChampion Reverse Weave Fleece Crew Neck Sweatshirt, available at Urban Outfitters, $54Like Fila, Champion is a brand that's had a resurgence as of late. If you want to get them something they'll end up wearing all the time, this is a good candidate. A great video game"The Legend of Zelda: Skyward Sword HD" / Nintendo"The Legend of Zelda: Skyward Sword HD", available at Amazon, from $49.94If they're really into video games, all other gifts may pale in comparison to a really good new one. Check out "Hades," "NBA 2K22," and "The Legend of Zelda: Skyward Sword HD."A vinyl record membershipVinyl Me, PleaseGift Membership, 3 months, available at Vinyl Me, Please, $119There's no greater joy than adding to a record collection or playing a new album for the first time. Your recipient gets to choose from three different types of tracks each month and will also receive extra goodies in each package. They'll also get one bonus record as part of the three-month gift membership. A gentle facial cleansing device that removes 98.5% of dirt and makeupFOREOLuna 3 Facial Cleansing Device, Men, available at Foreo, $199Luna 3 Facial Cleansing Device, Women, available at Foreo, $199FOREO's cult-favorite Luna 3 cleansing device gently and effectively cleans with thin, antimicrobial silicone touch-points, and it removes 98.5% of dirt and makeup residue without irritating the skin. Plus, it's 100% waterproof and the battery life lasts for a few months per charge.This newest generation also offers an array of massages to tighten the skin for a youthful look. Find a full review on the previous generation Luna 2 from a female reporter and a male reporter here.Comfortable lounge pants that look put-togetherMeUndiesThe Lounge Pant, Men, available at MeUndies, $68The Lounge Pant, Women, available at MeUndies $68MeUndies is a popular LA startup that makes some of the most comfortable underwear we've ever tried. Their lounge pants, however, are the real hidden gem — perfect for lounging around on weekend mornings or heading to the dining hall when they get to college (yep, they'll last that long) while still looking sleek.A subscription to a famous book club that sends them great hardcovers each monthBook of the Month/Instagram3-Month Gift Subscription, available at Book of the Month, $49.99If your teen is a bookworm, Book of the Month is an especially cool gift. It's a book club that has been around since 1926, and it's credited with discovering some of the most beloved books of all time (like "Gone with the Wind" and "Catcher in the Rye" to name a couple).If you gift them a subscription, they'll receive a hardcover book delivered once a month. Books are selected by a team of experts and celebrity guest judges.If they're really more into audiobooks or e-reading now rather than hardcovers, check out a gift subscription to Scribd (full review here).An Apple Watch that combines their smartphone with a fitness trackerAmazonApple Watch SE GPS, 40mm, available at Apple, from $279If you have a little extra to spend on your teen, consider getting them a smartwatch. The Apple Watch SE is like a smartphone, fitness tracker, and music player all in one. Just like on their phone, they can customize the watch to show their favorite apps to pick, including social media.A cute iPhone caseSociety6Coffee Reading iPhone Case, available at Society6, $22This fun iPhone case is funny and unique, and most of their friends probably won't have the exact same one. Reusable strawsAmazonHiware Reusable Silicone Straws (10-pack), available at Amazon, $6.99Help teens do their part to keep single-use plastics out of trash bins, landfills, and the ocean by giving them this pack of reusable silicone drinking straws. They come in various colors and include a few cleaning brushes as well.A set of velvet retro-inspired scrunchiesAmazon/Business InsiderHair Scrunchie Variety Pack, available at Target, $6.99Another trendy gift is as many scrunchies as you can carry. This pack comes with 12 options in enough colors to work with virtually any outfit or mood. A multicolor mini cinema light boxUrban OutfittersMulticolor Cinema Light Box, available at Uncommon Goods, from $20These trendy lightboxes are inspired by cinema marquees, and they come with 100 letters and symbols for personal messages. This one also has color-changing LED lights for further customization.Fun and useful PopSockets for the back of their phoneAmazon/Business InsiderPopGrips, available at PopSockets and Amazon, from $10PopSockets have become their own cultural phenomenon in recent years, and they're surprisingly useful. Get your teen one for their own phone or tablet, and depending on their age, you may find it's the gift they're most excited about. It doesn't hurt that there's free domestic shipping on orders over $20, or that you can actually design your own.A waterproof e-reader with a no-glare screenAmazonAll-New Kindle Paperwhite, available at Amazon, $129.99Amazon's Kindle Paperwhite is its thinnest, lightest version. It also has double the storage, a built-in light that adjusts to accommodate reading indoors or outdoors, and is waterproof for reading anywhere, including the beach or bath. Plus, a single battery charge lasts weeks rather than hours.Cool backpacks from a popular startup with a charitable missionSTATE Bags/FacebookState bags and accessories, from $15State bags are increasingly popular thanks to their versatile, laid-back aesthetic and characteristically bright nylon colorways. They're also known as #GiveBackPack(s), because for every State bag purchased, State hand-delivers a backpack — packed with essential tools for success — to a local child in need. The Lorimer and Bedford are two of the company's best sellers.A three-month subscription of beauty productsBirchBox3-Month Subscription, available at BirchBox, $45Teens are usually among the most interested in the latest and greatest beauty or grooming products — but may lack the funds to try all the full-sized versions. Birchbox sends samples of new and beloved products once a month, so they can test out new finds and discover products they may want to buy a full size of in the future. (It's also just fun to get an ongoing gift.)Personalized NikesNikeCustomizable Nikes, available at Nike, from $120Nike makes great stuff, but it's nice to get the benefits of a great shoe without forsaking what makes something unique. You can customize a pair of Nikes for them, or give them a gift card so they can get creative making something one-of-a-kind on their own.A great Alexa-enabled speaker they can control by voiceSonosSonos One Smart Speaker, available at Sonos, from $219The new Sonos One smart speaker fills any room with clear, rich sound, and they can use Alexa to play and control their music without ever lifting a finger. Find a full review here.A cult-favorite hair towel that reduces damage and cuts drying time by 50%Aquis/Business InsiderAquis Rapid Dry Hair Towel, available at Amazon and Sephora, from $20.99Aquis' cult-favorite hair towels can cut the amount of time it takes your hair to dry in half — a claim we're happy to report holds up. The proprietary fabric also means there's less damage to wet hair while it dries. If they've ever complained about frizzy hair, this and a silk pillowcase are thoughtful gifts they'll actually use. A Disney+ subscription for access to classic movies and moreDisney PlusDisney+ Gift Subscription Service, available at Disney, $79.99/yearDisney Plus is the new Disney-centric streaming service. The platform includes Disney, Pixar, Marvel, Star Wars, National Geographic, and 20th Century Fox. You can gift a whole year of access for $80, which is something their entire family can benefit from.If you'd rather test Disney Plus out before buying, you can sign up for a free weeklong trial.A suitcase with an ejectable battery that can charge their devices on the goAwayThe Carry-On, available at Away, from $225Travel startup Away makes a great carry-on thanks to an ejectable battery that can charge devices seamlessly on the go, 360-degree wheels, and a lightweight build that travels easily. In other words, it takes a lot of the angst out of travel and may make family trips far more enjoyable and stress-free.Durable sunglasses that look good, tooAmazonSmith Optics Lowdown2, available at Backcountry, $129Who better to make a pair of durable, performance-based sunglasses than the company known for innovating the ski goggle? The Lowdown2 features bio-based materials for the frame, ChromaPop lens technology which creates high contrast and vibrant colors, and an anti-reflective smudge-resistant coating.Plus, the brand offers peace of mind with free shipping, 30-day returns, and a lifetime warranty.Comfortable, high-quality sheets that come in lots of colors and patternsBrooklinenLuxe Hardcore Sheet Bundle, available at Brooklinen and Amazon, from $240We think Brooklinen makes the best high-end sheets at the best price on the market, and most of the Insider Reviews team uses Brooklinen on their own beds. It's perfect for lazy Saturday mornings or the rare occasion sleeping in is encouraged.The Luxe Hardcore Sheet Bundle comes in 15 colors and patterns that range from classic to fun, and you can mix and match them to suit their preferences. Grab a gift card (delivered digitally) if you want to give them more freedom.Fidget ballsSpeksSpeks 2.5mm magnet balls, available at Speks, $34.95Made from rare earth magnets, these tiny balls can be molded into an infinite number of shapes and designs. The size of Speks balls makes them ideal for teens to keep with them for those unpredictable moments of nervousness that fill those teenage years.A pack of smart plugs so they can control devices from a distanceAmazon/Business InsiderTP-Link KIT WiFi Smart Plug, 2-Pack, available at Amazon, $35.99Whether they're wondering if they turned off their hot iron or just don't want to get up to turn off the TV, a smart plug lets them control devices from a distance. You can connect to them using any smart device.A Time-Turner clock that actually spinsHarry PotterHarry Potter Time-Turner Clock, available at Pottery Barn, $79It may not be able to take them back in time or help them be in two places at once, but this Time-Turner clock will help them stay on top of their schedule. It even has a functional hourglass on the back so they can time their study breaks. A toothbrush with a timerAmazonOral-B Pro 1000 Electric Toothbrush, available at Amazon, $39.97Rigorous dental hygiene isn't usually on the top of the list of things teens care about, which is all the more reason a rechargeable toothbrush with a timer is a fantastic gift. This rechargeable brush breaks up 300% more plaque on the gum line than traditional brushing and lets them know when two minutes have passed.Compact hand sanitizer sprayTouchlandTouchland Power Mist Hand Sanitizer, available at Touchland, $9It's in the car, the house, and their pocket these days, but many hand sanitizers can smell a little like household cleaner. Touchland comes in scents like Vanilla Cinnamon and Forrest Berry, or keep it simple and choose unscented.The compact sanitizer features 67% alcohol for killing germs but balances it with soothing aloe vera and essential oils to hydrate the skin. A lottery card that donates to charitiesLottoLove/Business InsiderLottoLove Card, available at LottoLove, from $5When you gift this lottery card, you're actually giving the gift of charity. When you "win big," you're winning a charitable prize that gets donated to nonprofits in one of four categories: Clean water, solar light, nutritious meals, or literacy tools. To date, LottoLove and its partners have impacted lives in over 70 countries.Gift cards for concert tickets, food, and clothesChipotleYou can't go wrong with money for their favorite things, especially for teens who are often relying upon part-time jobs to fund their frequent Chipotle meals and concert trips with friends. Check out more gift card ideas here.Everything: Visa Gift Card / Amazon Gift CardCoffee and food: Starbucks Gift Card / Chipotle Gift CardEntertainment and live events: Netflix Gift Card / Xbox Gift Card / Hulu Gift Card / StubHub gift cardMusic: Spotify Gift CardSheets: Brooklinen Gift CardGroceries and food: Whole Foods Gift Card / Chipotle Gift CardClothes: Nordstrom Gift Card / Everlane Gift CardTech: Best Buy Gift CardRead the original article on Business Insider.....»»

Category: topSource: businessinsiderJan 13th, 2022

Bull of the Day: Manchester United (MANU)

Bulls looking to take their shot at current prices. Manchester United (MANU) is a Zacks Rank #1 (Strong Buy) operates the popular Manchester United Football Club in the United Kingdom. For those Americans not aware, this is a popular soccer team, known very well worldwide.The ManU club is also known as the “Red Devils” and could be compared to the New York Yankees in terms of their historical success. The team competes in the English Premier League and other soccer events around Europe.  The stock has done very little over the last decade since MANU became public in 2012. As it trades at the bottom of a decade long range on Omicron fears, there is now a great opportunity to enter the stock for both short and long-term investors.About the Company Manchester United operates the football club, markets sponsorships, sells apparel and other licensed products. The company was founded in 1878,employs over 1,000 and is headquartered in Manchester, United Kingdom.  MANU has a market cap of $2.4 billion and has Zacks Style Scores of “A” in Growth and “B” in Value.Football, Soccer or Fútbol?Whatever you may call it, the sport is growing globally around the world. Even if you haven’t seeked it out, you have probably noticed English Premiere League games on Saturday and Sunday mornings on the NBC or USA networks.These games are giving exposure to viewers who didn’t have access a decade ago. With viewers comes fans, merchandise and revenue for each club.Q1 Earnings Manchester Untied reported earnings back in November, seeing 56% EPS surprise to the upside. Revenues came in at £126.5M v £109.0M last year and net debt came down a tad, moving from $440.6M last year to $439.7M.Management cited the success to the company’s resilience through the pandemic. With that, the reiterated that their top priority is “success on the pitch”.Manchester United Ltd. Price and EPS Surprise Manchester United Ltd. price-eps-surprise | Manchester United Ltd. QuoteEstimatesEstimates are mixed going froward. Analysts are hiking numbers for the current quarter, but keeping them flat for next quarter. However, we see improvement into next year, with estimates going from negative $0.12 to a positive $0.01.No doubt the recent resurgence of cases with the Omicron variant has scared investors. There have been some cancelled games where players have tested positive, which has hurt the stock.However, England has announced they will not be shutting down the country. Investors need to understand that this is not 2020 and the games will be played.The TechnicalsThe sell off due to the variant has created a great opportunity for both short and long-term investors.Looking at the chart since 2020, the $14 level has held and bounced five times now. The stock has moved to $16 each of those times and we saw a bounce to $20 twice. That’s gain of 40% that happened twice in 2021 alone. So traders should be buying this $14 level and looking for a sixth bounce.Long-term, we are looking at that support level to set up for a multi-year hold. The bulls will need to take back the $18 level and then finally break that $20 level that was sold twice this year. If that can happen, we could see $25 and the 2019 high of $27.70.Bottom Line If we can get past Omicron and normalize later in the year, MANU is poised to have strong demand for its brands. Whether its sponsors, merchandise or actually fans in the stands, MANU stands to benefit from the end of COVID.Traders have a great setup off the $14 support level. And long-term investors have a chance to buy low into a top brand in a growing global sport. Zacks Top 10 Stocks for 2022 In addition to the investment ideas discussed above, would you like to know about our 10 top picks for the entirety of 2022? From inception in 2012 through November, the Zacks Top 10 Stocks gained an impressive +962.5% versus the S&P 500’s +329.4%. Now our Director of Research is combing through 4,000 companies covered by the Zacks Rank to handpick the best 10 tickers to buy and hold. Don’t miss your chance to get in on these stocks when they’re released on January 3.Be First To New Top 10 Stocks >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Manchester United Ltd. (MANU): Free Stock Analysis Report To read this article on Zacks.com click here......»»

Category: topSource: zacksJan 6th, 2022

Roku Partners With Sharp to Launch Sharp Roku TV Models

Roku (ROKU) announces its strategic partnership with Sharp to launch Sharp Roku TV models. The models are integrated with Roku OS, the leading smart TV OS in the United States. Roku, Inc. ROKU announced that Roku Operating System (OS) was the #1 smart TV OS sold in the United States, for the second year in a row.The news has been released by the American Market Research company, The NPD Group’s Retail Tracking Service, and is based on the data available from Jan 3, 2021, to Dec 4, 2021.In addition, Roku announced a partnership with the Japanese multinational firm Sharp to bring Sharp Roku TV models to customers in the United States.Sharp will leverage Roku’s TV hardware design and Roku OS to launch a series of 4K and HD TV models in 2022.The Sharp Roku TV models will have integrated Roku OS and offer customizable home screens. It will also be compatible with three major voice ecosystems and consumers will have access to over thousand channels, including 200 live TV channels.In line with the company’s expansion goal in early 2022, the Roku TV licensing program in Mexico will be expanded to include a total of 10 brands with the addition of HKPRO and Aiwa.Roku, Inc. Price and Consensus  Roku, Inc. price-consensus-chart | Roku, Inc. Quote Global TV Footprint Expansion Aids ProspectsRoku has been focused on expanding it Roku TV footprint globally.The company continues to partner with global brands to extend its TV licensing program, which is anticipated to drive Roku TV momentum growthThe Roku TV licensing program provides OEMs and TV brands and convenient and cost-effective way to produce good quality smart TVs at competitive price points.In the past few years, the sale of Roku TV models by the company’s TV brand partners has materially contributed to its active account growth, streaming hours and platform monetization efforts.Previously Roku had partnered with 15 global brands to launch Roku TV models in Canada, Mexico and the United States in 2020. The Roku TV brands included Walmart’s Atvio, Hisense, Hitachi, Element, InFocus, JVC, Philips, Polaroid, Magnavox, onn., RCA, Sanyo, TCL and Westinghouse.In 2021, Roku partnered with TCL Electronics to launch Roku TV models in the U.K.In the same year, Roku entered into a strategic partnership with SEMP TCL, the Brazil-based joint venture electronics company.Per the agreement, TCL extended its global partnership with Roku to launch Roku TV models in Brazil, and introduced a new lineup of SEMP Roku TV models in the country.Building on this momentum, Roku plans to expand its TV footprint in Latin America, Chile and Peru with Roku TV models in the next few years.In 2020, Roku generated $510.6 million player revenues with a 31.6% year-over-year increase in the volume of players sold. Nearly one in three smart TVs sold in the United States were Roku TVs.In third-quarter 2021, the player segment witnessed a 26% year-over-year decline in player revenues. This was majorly due to global supply chain disruptions that impacted the U.S. TV market. As a result, some of the Roku TV OEM partners witnessed inventory channels, which affected TV sales in the reported quarter.Zacks Rank and Stocks to ConsiderCurrently, Roku holds a Zacks Rank #3 (Hold).Roku’s shares have declined 30.5% against the Zacks Broadcast Radio and Television industry’s return of 7.4% and the Consumer Discretionary sector’s decline of 10.1% year to date.The Zacks Consensus Estimate for Roku’s fourth-quarter fiscal 2021 earnings is pegged at 1 cent per share, which has been steady for the last 60 days. For fiscal 2021, earnings estimates have moved north by 1.3% to $1.55 per share in the past 60 days.Some of the better-ranked stocks in the Zacks Consumer Discretionary sector are BJ’s Wholesale Club BJ and Caleres CAL, both sporting a Zacks Rank #1 (Strong Buy), and Electronic Arts EA carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.BJ’s Wholesale Club, an American membership-only warehouse club chain, has a trailing four-quarter earnings surprise of 17.72% on average.Caleres, engaged in manufacturing footwear, has a trailing four-quarter earnings surprise of 796.16%, on average.Electronic Arts, an American video game company, has a trailing four-quarter earnings surprise of 11.72% on average. Zacks’ Top Picks to Cash in on Artificial Intelligence This world-changing technology is projected to generate $100s of billions by 2025. From self-driving cars to consumer data analysis, people are relying on machines more than we ever have before. Now is the time to capitalize on the 4th Industrial Revolution. Zacks’ urgent special report reveals 6 AI picks investors need to know about today.See 6 Artificial Intelligence Stocks With Extreme Upside Potential>>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report BJ's Wholesale Club Holdings, Inc. (BJ): Free Stock Analysis Report Electronic Arts Inc. (EA): Free Stock Analysis Report Caleres, Inc. (CAL): Free Stock Analysis Report Roku, Inc. (ROKU): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacksJan 4th, 2022

Meet the next generation of luxury entrepreneurs selling millions in real estate, creating art galleries, and building fashion empires

A new crop of luxury entrepreneurs has popped up, creating the businesses they want to see taking over the sector. (L-R), Alex Assouline, Destinee Ross-Sutton, Marina Raphael, Avi Hiaeve.Emilia Brandao; Courtesy the artist and Destinee Ross-Sutton 2020; Marina Raphael; Avi & Co; Yuqing Liu/Business Insider Luxury spans many sectors including, fashion, travel, real estate, and nightclubs.  However, the industry is changing: People want more sustainability and faces that are more diverse. Insider regularly talks to the young people who are making their mark in luxury and challenging the market.  Visit Insider's homepage for more stories. Luxury is a pretty hard sector to tap into — and even years of notoriety doesn't necessarily mean years of financial stability or economic success. The coronavirus pandemic only heightened many of those issues, as brands and retailers throughout the world have been forced to close or declare bankruptcy. Even before the pandemic, however, there were calls for a changing of the guard in the luxury sector. People want more sustainability, leaders who are more tech-savvy, faces that are more diverse, and clothes that come with a meaning and a purpose.Rather than wait around for those currently in charge to change, a new crop of luxury entrepreneurs has popped up, creating the businesses they want to see taking over the sector. These are names and the faces that will come to define and helm the next generation of luxury spending. Insider has been speaking to the new rising faces in luxury about the future of their respective spaces, touching on topics such as the investment value in high-priced watches, and where they hope to see the world after the pandemic subsides. The interviews are being compiled here: Millennial entrepreneur Brandon Blackwood shares how $7,000 and Instagram helped him build a handbag empire that's on track to book $30 million in revenueBrandon BlackwoodBrandon BlackwoodBrandon Blackwood, 29, is the founder of his eponymous handbag line that went viral last year after making a tote that said: "End Systemic Racism." Since then, other styles of his bag have gone viral and he's launched a spring campaign featuring celebrities and influencers like Ryan Destiny, Normani, and Jaime Xie. So far, the brand booked more than $14 million in revenue this year and is on track to close 2021 with $30 million. The 24-year old jewelry designer, whose rings have been spotted on Serena Williams and Meghan Markle, uses half her profits to fund female entrepreneursShilpa YarlagaddaCourtesy of Shilpa Yarlagadda; Taken by Shoji Van KuzumiShilpa Yarlagadda, 24, is the cofounder of Shiffon, the fine jewelry brand that invests its proceeds back into female-funded businesses. For the upcoming election, the brand has partnered with Michelle Obama's When We All Vote foundation for limited-edition hoop earrings to represent the hoops women have to go through for basic rights. In an interview with Business Insider, she talks her career journey, the importance of mentorship, and her partnership with Obama. Inside the world of 'Bling Empire's' Jaime Xie, the tech heiress forging her own path as a fashion influencerJaime XieYoshi UemuraXie told Insider she had never even seen reality TV before joining the cast of Netflix's hit show "Bling Empire." Now she's one of its standout stars and is best known for her fashion and style. Born in Silicon Valley, she said tech wasn't really her thing, and she's always wanted a career in fashion. Now she's an influencer, jet-setting to Paris and Milan, sporting the hottest ready-to-wear looks. In an interview, she gives Insider a peek at her glamorous life. Real estate heiress Danielle Naftali, who is just 27, helped convince a mystery buyer to shell out $35 million for an NYC penthouse during the pandemicJonathan GrassiDanielle Naftali, 27, is expected to take over her father's real estate company Naftali Group, which develops some of New York City's most luxurious properties. But even she had to start at the reception desk. To Insider she breaks down working her way up and how she helped convince a buyer to shell out over $30 million for an apartment during a pandemic. Pajama sets are the new 2-piece suit. A millennial brand explains the wild pandemic year when sales spiked 400% .Joel Jeffery (L) and Molly Goddard (R)Desmond & DempseyHusband-wife duo Molly Goddard and Joel Jeffrey are known for their high-end pajama line Desmond & Dempsey, which also saw record growth during the pandemic as people sought to buy more comfortable clothing. To Insider, they talk about the brand's beginnings and how they hope to further capitalize on the billion-dollar markets of both wellness and comfort wear. Meet the millennial designer and CEO who wants to make comfort clothing the new power dressingMisha NonooCourtesy of Misha NonooDesigner Misha Nonoo thinks comfort clothes will also be part of the new way to power dress. To Insider, she spoke about her career beginnings, her latest collection, and what she thinks the future of sustainable fashion will be in a post-pandemic world. How fashion's 'patient zero' turned her fight with Covid into a new hygiene and wellness lineNga NguyenCourtesy of Nga NguyenAfter being diagnosed with COVID-19 last year, Nga Nguyen was deemed the fashion industry's "patient zero" as she was the first known case in the world of jet-set high fashion to catch the virus. But she's light at the end of the tunnel. To Insider she talks about her new wellness line, inspired by her run-in with the virus, and shares her expectations on what role hygiene products will play in a post-pandemic world. How a 28-year-old sold his first jewelry design for $25,000 and within 3 years built an exclusive client roster including RihannaEmmanuel Tarpin.Emmanuel TarpinCalling in from Paris, Emmanuel Tarpin spoke about his rise in the jewelry industry, how he nabbed two of the industry's top honors, and got Rihanna to fall in love with his work.How a 22-year-old heiress launched a handbag line and within 3 years landed the Netherlands' Queen Maxima as a fanMarina Raphael.marina raphaelAt just 22, Marina Raphael has already built a luxury handbag business that counts the Queen of the Netherlands as a fan. In an interview with Business Insider, she spoke about learning Italian, teaching herself design, and her plans to build the next-big-thing in luxury — as well as being a sixth-generation member of the Swarovski crystal dynasty.Swarovski crystal heiress Marina Raphael explains how she achieved record-breaking sales by selling smaller handbags, donating to charity, and using snail mail to reach customersMarina Raphael with her SS21 collection(1)Marina RaphaelRaphael caught up with Insider again in March of this year to talk about how her brand saw record growth during the pandemic. To cope with the time, she changed her marketing strategies and even reduced the size of her handbags as production took a hit due to closures. Still, the brand came out stronger than ever before. How one millennial CEO built a luxury eyewear brand that's been spotted on everyone from Jeff Bezos to Brad PittCourtesy of Garrett LeightGarrett Leight is the founder, CEO, and creative director of Garrett Leight California Optical. His father, Larry, was the founder of the sunglass brand Oliver Peoples. In an interview with Business Insider, Garrett talks about opening his own eyewear brand and keeping his family legacy alive. Pauline Ducruet isn't so different from other 26-year-old entrepreneurs — she just happens to be Grace Kelly's granddaughterPhoto by Francois Durand/Getty ImagesPauline Ducruet is the founder of the gender-neutral fashion line, Alter Designs. She also happens to be a granddaughter of Grace Kelly through her mother, Princess Stephanie of Monaco. In an interview with Business Insider, she talks about the importance of sustainability in fashion, and how the pandemic almost wiped out her business. A millennial car customizer who counts Lebron James and Kendall Jenner among his clients explains why he's expanding his business with a luxury shoe lineVik Tchalikian.Vik TchalikianVik Tchalikian is best known as the car customizer for the stars and boasts a client list that includes Kendall Jenner, LeBron James, and Billie Eilish. In an interview with Business Insider, he talks about how he used his car knowledge to start up a luxury shoe line. Two Gen Zers turned a $2,000 investment into an art gallery that sells $600K pieces. They want to usher in a new generation of art collectors.Alexis de Bernede (L) and Marius Jacob (R)Darmo ArtBased in France, Alexis de Bernede and Marius Jacob are the founders of Darmo Art gallery. Last summer, their two art shows netted six figures each, and they are now planning future exhibitions in Paris, the French Riviera, and at the Grand Hotel Heiligendamm, an exclusive report in Germany. Millennial fashion designer Alexandra O'Neill is seeing cocktail dress sales skyrocket as customers prepare for the new Roaring 20sCourtesy of Alexandra O'NeillAlexandra O'Neill is the founder of luxury brand Markarian and made headlines last year after First Lady Jill Biden wore a custom Markarian piece for Inauguration. Since then, the company has seen sales skyrocket. What's more, O'Neill held her first New York Fashion Week presentation in September, showing off a collection inspired by Lauren Bacall in the movie "How to Marry a Millionaire." Meet the Black millennial art curator who worked on a Zendaya photoshoot, had her portrait featured in Beyoncé's 'Black Is King,' and was just tapped by auction house Christie's to curate an exhibitDestinee Ross-Sutton.Courtesy the artist and Destinee Ross-Sutton 2020The art industry is notoriously white. Enter, Destinee Ross-Sutton, the 24-year-old art curator who already counts a Zendaya photoshoot and a Christie's exhibit under her name. A shining moment for her this year was when she discovered that a painting of her was featured in Beyoncé's "Black IS King." In speaking with Business Insider, Ross-Sutton talks about her mission to increase diversity and inclusion in the art world.The 28-year-old heir to a luxury publishing house explains how he creates some of the most exclusive — and expensive — private libraries in the worldAlex Assouline.Emilia BrandaoAlex Assouline is a creative library designer who helps create some of the most exclusive — and expensive — libraries in the world. The heir to his family's publishing house, Assouline also helps make stunning coffee books on subjects ranging from feminism to the palace of Versailles. In an interview with Business Insider, he talks about the art of library designing and which books he is helping to make next. Meet the 'VIPER Girls,' the female nightlife entrepreneurs who couldn't get a credit card 4 years ago and now field requests to work the Super Bowl(L) Kelsi Kitchener and (R) Celeste Durve.Courtesy of Kelsi Kitchener and Celeste DurveKelsi Kitchener, 28, and Celeste Duvre, 24, are the cofounders of the guest experience company VIPER, which works with some of the biggest celebrities and brands in the world. Known as the Viper Girls, they manage all points of the overall guest experiences at events. In an interview with Business Insider, Kitchener and Duvre talk about the founding of their company, and being young women in an industry that's long been touted as a "boys club." A 25-year-old set her eyes on taking over the high-end smoking accessories market — and it's workingCourtesy of Smoking JacketChiara di Carcaci, 25, is the founder of Smoking Jacket, a high-end cigarette accessories company that counts a Getty heiress as a fan. In an interview with Business Insider, di Carcaci talks about why she decided to start a luxury cigarette brand, and her ambitions to expand it into a full-service lifestyle company. A 28-year-old fashion brand director explains how ruthless attention to detail has landed Rihanna, Kim Kardashian, and Jennifer Lopez as clientsKyle Bryan.Courtesy of Kyle BryanIn an exclusive interview with Business Insider, Kyle Bryan, brand director at the luxury label LaQuan Smith, breaks down his plans on helping create the next big American fashion house. "A lot of women and celebrities will directly reach out to LaQuan and say, 'I would love for you to make me something,'" he said. "That's how some of our best stuff has even happened."Nisha Persaud's side hustle is creating at-home manicure boxes that are beloved by celebs and have been featured in luxury campaignsDanisha "Nisha" PersaudDanisha "Nisha" PersaudWhen the pandemic made it impossible for Nisha Persaud to get her nails done last year, she created at-home manicure kits to bring the nail salon to her. Since then, she's netted more than $100,000 in revenue and her work has been reposted on social media by Cardi B, received a shoutout by Megan Thee Stallion in a video, and gifted to the model Teyana Taylor for her baby shower. Meet the millennial cofounders of Apparis, the cult-favorite vegan coat brand that raised $3 million in funding this year and just launched a collaboration with Juicy Couture(L) Lauren Nouchi and (R) Amelie Brick.ApparisAmelie Brick, 37, and Lauren Nouchi, 29, are the cofounders of Apparis, an apparel company best known for its vegan coats. In an interview with Business Insider, they talk about why they decided to start a high-end vegan coat line, how the pandemic led them to expand into homewear, and why they decided to launch a collaboration with Juicy Couture. Meet the millennial cofounder of a jewelry brand that has partnered with the NFL and NBA and is on track to make $50 million in revenue this yearChristian Johnston.Courtesy of Christian Johnston cofounder of GLDChristian Johnston is the cofounder of the jewelry brand GLD, beloved by the likes of Justin Bieber and rapper Wiz Khalifa. The company has also done partnerships with the NFL, NBA, MLB, and Disney's Marvel. In an interview with Business Insider, Johnston talks about growing his jewelry company, which is now on track to make $50 million in revenue this year. Hogoè Kpessou worked as an Uber Eats driver before she launched her handbag brand last year. Now she's on track to net seven figures.Hogoè KpessouHogoè KpessouLuxury designer Hogoè Kpessou is best known for her backpacks emblazoned with a gold bumblebee. Before starting her eponymous company, she worked weekend shifts at a local restaurant and delivered food for Uber Eats. Today, she estimates her brand will hit seven figures in revenue in the beginning of 2022. YIMBY with a conscience: Meet the 26-year-old real-estate heir who wants to make affordable housing a reality in the Biden eraDonahue Peebles IIIPeebles CorporationDonahue Peebles III is set to one day take over his father's real estate and development empire, The Peebles Corporation. Speaking to Insider, he talks about his passion for helping make housing more affordable, gives his thoughts on gentrification, and shares his expectations for what's to come under a Biden presidency. Meet the millennial CEO who wants to redefine the ownership of men's clothing, and convinced Alexis Ohanian and Nas to investRegy PerleraCourtesy of SeasonsRegy Perlera is the co-founder of Seasons, an app that allows men to rent designer clothing. He tells Insider that renting clothing is one way to reduce your carbon footprint, and contribute to the circular economy. In 2019, Seasons raised $4.3 million in funding from investors such as Alexis Ohanian's Initialized Capital, Notation Capital, and the rapper Nas.A millennial entrepreneur who runs a high-end watch retailer explains why now is the time to invest in watches — and which timepieces are the most valuableAvi & Co.Avi Hiaeve, owner of the high-end watch retailer Avi & Co., met with Business Insider earlier this year to talk about his watch business as well as give tips for those looking to start investing in luxury watches. "The celebrities and the artists and all of them, they're not wearing watches under $100,000 anymore, everything they want is over $100,000. It's really gone through the roof," he explained to us. Read the original article on Business Insider.....»»

Category: topSource: businessinsiderJan 3rd, 2022

The LinksDAO sold out of its memberships and raised more than $11 million in its quest to buy a real-world golf course

LinksDAO highlights that a democratized form of ownership of real-world assets, like a golf course, can be enabled by cryptocurrencies and NFTs. LinksDAOA new decentralized autonomous organization has raised millions in its quest to buy a real-world golf course.The LinksDAO sold out of memberships over the weekend and raised more than $11 million in ether.Holders of the LinksDAO membership have the right to purchase a membership to the course.Sign up here for our daily newsletter, 10 Things Before the Opening Bell.A new decentralized autonomous organization, or DAO, has formed and raised millions in ether as it hopes to buy and operate a real-world golf course for its newly minted members.The LinksDAO sold out of its 9,090 NFT memberships over the weekend, raising it 3,109 in ether worth about $11.7 as of Monday morning.DAOs have proliferated over the past few months as the crypto world builds its own model for crowd funding. Among the most well-known groups is ConstitutionDAO's, which failed to buy a 235 year-old copy of the US Constitution in November. The DAO lost its bid to billionaire Ken Griffin.But LinksDAO's stated goal seems more attainable than ConstitutionDAO as it scours the US for a potential golf course to buy, operate, and maintain. The DAO sold 6,363 Leisure Membership NFTs, and 2,727 Global Membership NFTs for 0.18 ether and 0.72 ether, respectively.The memberships give its holders various rights including the right to purchase a membership at the first physical club acquired by the DAO, along with governance rights via the $LINKS token which launched in early 2022.Already, the LinksDAO Membership NFTS have seen a total sales volume of more than $3 million in the secondary market, with the average price hovering around $1,500, according to data from NFT Stats. While the memberships have already sold out, investors can buy them via OpenSea on the secondary market.The LinksDAO roadmap includes purchasing a golf course in mid-2022, and opening it to the community by late 2022 or early 2023. From there, LinksDAO hopes to expand to additional locations and create a global membership network of golf courses.The DAO will retain 10% of the supply of each membership type that it can later sell to raise funds for marketing, partnerships, and strategic purposes, similar to how a public company will sell its own stock to raise funds for growth purposes.While Web3 is seen as living in a digital world with avatars and social hangouts, the LinksDAO highlights that a democratized form of ownership of real-life assets, like a golf course, can be enabled by cryptocurrencies and NFTs. Read the original article on Business Insider.....»»

Category: topSource: businessinsiderJan 3rd, 2022

The demand for airline-sized private jets has boomed over the years and Boeing has stepped up with its fleet of luxury bizliners — see the 25-year history of Boeing Business Jets

The program officially launched on July 2, 1996, and the first BBJ 737-700 aircraft rolled out of production on July 26, 1998. Boeing Business Jets.Boeing Boeing Business Jets celebrated its 25-year anniversary in July, having dreamt up the first BBJ concept in 1996. The program targeted a niche market of ultra-wealthy customers who wanted bigger, more comfortable bizjets. Boeing has added many aircraft types to the BBJ line, like the 737 MAX, 787 Dreamliner, 777, and the 747-8. 2021 marks the 25-year anniversary of Boeing Business Jets, which launched in 1996. The company has a long history of manufacturing aircraft for both commercial and private use but eventually combined the two products into an official line of bizjets.Boeing Business JetsBoeingSource: Boeing spokespersonWhile the official BBJ brand launched in the 1990s, it was not the first private plane the company built for executive flying.Jet Edge International's Boeing Business Jet 737.Jet Edge InternationalSource: Boeing spokespersonIn 1930, Standard Oil of California, now known as Chevron, ordered a specially modified three-engine Model 80A, or Model 226, to fly its executives from city to city. The Model 80 was Boeing's first plane engineered for passenger operations.Boeing Model 80A.PhotoQuest/Getty ImagesSource: Museum of Flight, Boeing spokespersonAccording to Boeing, the Model 80A was successful because it got its private passengers to their destinations quicker than by train without sacrificing comfort.Boeing Model 80A.National Library of FranceSource: Boeing spokespersonIn 1943, Boeing's Model 314 aircraft played a significant role for the US government. The plane operated as a private service to shuttle President Franklin D. Roosevelt to meet with British Prime Minister Winston Churchill at the Casablanca conference.Boeing Clipper 314 on takeoff.Museum of Flight/CORBIS/Corbis via Getty ImagesSource: Boeing spokespersonThe flight pre-dated the "Air Force One" call sign and was the first time a sitting president flew on an airplane.Former President of the United States Franklin Delano Roosevelt celebrates his birthday on board a Boeing 314 flying boat.Museum of Flight/CORBIS/Corbis via Getty ImagesSource: Boeing spokespersonPresident Eisenhower also had private planes manufactured by Boeing at his disposal. Specifically, he had three VC-137s, the Air Force derivative of the 707, and was the first to use the "Air Force One" call sign.Air Force One taking off from Heathrow Airport, at the end of President Eisenhower's state visit to the United Kingdom, 2nd September 1959Terry Fincher/Mirrorpix/Getty ImagesSource: Air and Space, Boeing spokespersonBoeing also developed the VIP VC-137C, which was the first jet aircraft built for presidential use. The plane was a highly-modified 707-320B airliner and carried eight presidents, like John F. Kennedy and Jimmy Carter. The most famous was SAM 26000.SAM 26000 VC-137C.US Air ForceSource: US Air ForceOne of the most impressive converted Boeing private jets was the Qatari Royal Family's lavish Boeing 747-SP. It featured a dining room, a master bedroom and bathroom, a spiral staircase, business class seats, and an economy cabin.Qatar Amiri Flight Boeing 747-8 BBJ.Jetlinerimages/Getty ImagesSource: Sam ChuiAccording to Boeing, over the years, the company's private planes have been referred to as the "flying penthouse," the "apartment in the sky," and the "flying business offices."Howard Hughes' Boeing 307 VIP plane known as the "Flying Penthouse."Bettmann/Getty ImagesSource: Boeing spokespersonAfter nearly 70 years of converting airliners into business jets for companies, government departments, and private individuals, Boeing decided to create a series of large, customizable planes for the corporate market.Boeing Business JetsBoeingSource: Boeing spokespersonThe first Boeing Business Jet concept was imagined in 1996 by Phil Condit, president of Boeing, and Jack Welch, chairman and CEO of General Electric as a joint venture project. Their first proposal was based on the Next-Generation 737-700 jet.BBJ 737NG.BoeingSource: BoeingThe plane could fly over 6,000 nautical miles nonstop, connecting cities like New York to Tokyo and London to Johannesburg, and offered ample cabin space.BBJ 737NG.BoeingSource: Jet OptionsAccording to Boeing, Condit was passionate about the idea because he saw a promising market for customers who may want a bigger, more comfortable private jet.BBJ 737NG.BoeingSource: Boeing spokespersonThe program officially launched on July 2, 1996, and the first BBJ 737-700 aircraft rolled out of production on July 26, 1998.BBJ 737NG.BoeingSource: BoeingThe plane took its first flight on September 4, 1998, captained by Mike Hewett and Mike Carriker. The 737 took off at 9:12 a.m. from Renton, Washington.Mike Hewett flying the first BBJ.BoeingSource: BoeingThe plane was used as a demonstrator aircraft and was certified by the Federal Aviation Administration and Europe's Joint Aviation Authorities on October 30, 1998.First BBJ flight.BoeingSource: Boeing spokespersonThe first two BBJ 737s were delivered the week of November 23, 1998, with one going to General Electric and the other going to an undisclosed buyer.BBJ delivered to first owner.BoeingSource: BoeingFrom the beginning, BBJs have included integrated air stairs that allow the plane to access airfields that lack ground support equipment. Moreover, the 737 can operate at small airports with short runways.BBJ air stairs.Mehdi Photos/ShutterstockSource: Boeing spokespersonThe original BBJ was based on the 737-700, but Boeing created more variants based on its later 737 planes.A PrivatAir Boeing Business Jet 737.Vytautas Kielaitis/ShutterstockSource: Aerospace TechnologyThe BBJ2, which is derived from the Boeing 737-800, was launched in 1999. It added 25% more cabin space and 100% more cargo capacity compared to the BBJ1. The first BBJ2 was delivered in March 2001.Indonesian presidential BBJ2.Nieto Azzam/ShutterstockIn November 2005, BBJ3 was revealed. The plane was based on the 737-900ER, offering 35% more cabin space than BBJ1 and 11% more cargo capacity than BBJ2.State of Kuwait's BBJ3.Oleksandr Naumenko/ShutterstockSource: Aerospace Technology, Global AirIn 2014, Boeing launched the Boeing MAX bizjet family, which offered lower cabin altitude, advanced fuel-saving systems, and enhanced passenger comfort.BBJ MAX Family.BoeingSource: BoeingThe MAX family includes the BBJ MAX 7, BBJ MAX 8, and BBJ MAX 9.Rendering of BBJ MAX.BoeingSource: BoeingThe first delivery was a BBJ MAX 8, which operated its first "flyaway" in April 2018 and was delivered in October 2018. The plane is fitted with an external fuel tank, allowing it to fly over 7,600 miles.First BBJ MAX 8 flyaway.BoeingSource: BoeingIn addition to narrowbody planes, Boeing also created widebody bizjets, including The BBJ 777 and 777X that can connect virtually any two cities worldwide...BBJ 777X.BoeingSource: AinonlineThe BBJ 787-8 and BBJ 787-9 Dreamliners...BBJ 787 Dreamliner.BoeingSource: BoeingAnd the BBJ 747-8, which is the world's largest private jet.BBJ 747-8.Cabinet Alberto PintoSource: InsiderThe planes come with several unique interior options that are created in partnership with Boeing and design companies, which can be customized by the buyer. Some options include Mark Berryman's yacht concept for the BBJ MAX...Boeing Business Jets 737 MAX ConceptBoeingBoeing teamed up with a yacht interior design company to create a private jet cabin for the 737 MAX — see insideThe sky-inspired Genesis concept from SkyStyle and KiPcreating for the BBJ MAX...Courtesy of Boeing/SkyStyle & KiPcreatingThis Boeing 737 Max private jet interior design looks more like a futuristic spaceship than it does a private jetThe Lotus concept from Greenpoint Technologies for the BBJ 777X...BBJ Lotus design.Greenpoint TechnologiesBoeing's new $400 million 777X private airliner is a flying mansion that can go halfway around the worldAnd the Cabinet Alberto Pinto design for the BBJ 747-8.Cabinet Alberto Pinto BBJ 747-8 interior design.Cabinet Alberto PintoSee inside the world's largest private jet: a Boeing 747 with an interior so large it took 4 years to design and buildBoeing has solidified 260 orders of its BBJs to date, having sold to a small market of deep-pocket individuals, royal families, as well as government entities worldwide.BBJ 777.BoeingSource: Aviation Pros, Simple FlyingCustomers include people like Tony Robbins, a motivational speaker in the US...Tony Robbins' BBJ.Silver AirSource: Simple Flying, An airline is offering Tony Robbins' Boeing 737 private jet featuring an onboard shower for charter. Take a look inside.And the Dutch royal family.Dutch Royal Family's BBJ 737.Patrick van Katwijk/GettySee inside the 'Dutch Air Force One': a Boeing 737 private jet that the king of the Netherlands flies himselfThese ultra-rich buyers are taking a new interest in BBJs as travel restrictions ease, with Boeing receiving a new order of its BBJ 737-800 this year.Jet Edge International's Boeing Business Jet 737.Jet Edge InternationalSource: AOPA, Ultra-wealthy travelers are ditching traditional private jets and buying airliners. See inside 2 airliner-turned-private-jets from Airbus and Boeing.According to BBJ, business aviation traffic is up 15% compared to 2019, with first-time buyers fueling the demand.BBJ 777-9.BoeingSource: AOPA"Private aviation is attracting those who have previously flown first or business class," BBJ director of marketing Alex Fecteau told AOPA. "More than 30 percent of our new orders are from first-time buyers."BBJ 747-8.BoeingSource: AOPARead the original article on Business Insider.....»»

Category: topSource: businessinsiderDec 26th, 2021

Speculative NFT Offer For Bradford City Highlights Risk Of The Crypto Tokens

“The rather short shrift reaction by Bradford City chairman Stefan Rupp to the speculation soaring over a bid for the club by a group of NFT fans isn’t surprising, given the offer and financial backing of the interested party appears so scant on detail. Q3 2021 hedge fund letters, conferences and more Building A Community […] “The rather short shrift reaction by Bradford City chairman Stefan Rupp to the speculation soaring over a bid for the club by a group of NFT fans isn’t surprising, given the offer and financial backing of the interested party appears so scant on detail. .first{clear:both;margin-left:0}.one-third{width:31.034482758621%;float:left;margin-left:3.448275862069%}.two-thirds{width:65.51724137931%;float:left}form.ebook-styles .af-element input{border:0;border-radius:0;padding:8px}form.ebook-styles .af-element{width:220px;float:left}form.ebook-styles .af-element.buttonContainer{width:115px;float:left;margin-left: 6px;}form.ebook-styles .af-element.buttonContainer input.submit{width:115px;padding:10px 6px 8px;text-transform:uppercase;border-radius:0;border:0;font-size:15px}form.ebook-styles .af-body.af-standards input.submit{width:115px}form.ebook-styles .af-element.privacyPolicy{width:100%;font-size:12px;margin:10px auto 0}form.ebook-styles .af-element.privacyPolicy p{font-size:11px;margin-bottom:0}form.ebook-styles .af-body input.text{height:40px;padding:2px 10px !important} form.ebook-styles .error, form.ebook-styles #error { color:#d00; } form.ebook-styles .formfields h1, form.ebook-styles .formfields #mg-logo, form.ebook-styles .formfields #mg-footer { display: none; } form.ebook-styles .formfields { font-size: 12px; } form.ebook-styles .formfields p { margin: 4px 0; } Get The Full Ray Dalio Series in PDF Get the entire 10-part series on Ray Dalio in PDF. Save it to your desktop, read it on your tablet, or email to your colleagues (function($) {window.fnames = new Array(); window.ftypes = new Array();fnames[0]='EMAIL';ftypes[0]='email';}(jQuery));var $mcj = jQuery.noConflict(true); Q3 2021 hedge fund letters, conferences and more Building A Community With NFTs According to news reports, the group has lofty aims to use NFTs to build a community around the club. It reckons that by selling these digital tokens to fans, revenues from sales of NFTs will enable them to buy players and outspend opponents in pursuit of promotion right up to the Premier League. Given the huge amount of money washing around the ELF leagues, that is a hugely ambitious aim, particularly given how volatile other crypto assets have proved over recent weeks. NFTs, or non-fungible tokens, are certificates of ownership for mainly creative digital assets. They have been described as trading cards for the super-rich and they are a risky game to play. Individual non fungible tokens may have sold for millions of dollars, as a bubble of speculation has blown up in the crypto Wild West, and the art, music and gaming industries have scrambled to start playing the game in the search of fresh revenue streams. But ethereum, the blockchain network upon which many NFTs are spawned and where they are traded in marketplaces, has seen its value fall by around 20% in less than three weeks. The rollercoaster ride is set to continue given that crypto assets are also highly sensitive to the fortunes of the stock market and were propelled higher in an era of ultra cheap money. As speculation swirls about how rapidly central banks will keep tightening mass bond buying programmes and raising interest rates, given soaring inflation, they are likely to stay volatile. There is a risk that the initial frenzy of interest in many of today’s NFTs will wane, and the assets could end up being almost worthless, in the same way as once sought after CDs, vinyl or even popular football players have ended up in the bargain bin. If Bradford City Football Club does end up taking an offer seriously, the club and its fans will need significant reassurance about future streams of revenue from this highly speculative digital playground." Article by Susannah Streeter, senior investment and markets analyst, Hargreaves Lansdown About Hargreaves Lansdown Over 1.67 million clients trust us with £138.0 billion (as at 30 September 2021), making us the UK’s number one platform for private investors. More than 98% of client activity is done through our digital channels and over 600,000 access our mobile app each month. Updated on Dec 17, 2021, 5:04 pm (function() { var sc = document.createElement("script"); sc.type = "text/javascript"; sc.async = true;sc.src = "//mixi.media/data/js/95481.js"; sc.charset = "utf-8";var s = document.getElementsByTagName("script")[0]; s.parentNode.insertBefore(sc, s); }()); window._F20 = window._F20 || []; _F20.push({container: 'F20WidgetContainer', placement: '', count: 3}); _F20.push({finish: true});.....»»

Category: blogSource: valuewalkDec 17th, 2021

47 last-minute gifts that teens will love, from portable photo printers to beauty product subscriptions

The best gifts for teens are ones they'll actually want to use, like tech gadgets, beauty products, and cool accessories. Here are 47 unique gifts. Prices are accurate at the time of publication.When you buy through our links, Insider may earn an affiliate commission. Learn more.One of the best gifts for teens is a portable, waterproof speaker they can bring with them on trips with friends.Amazon It's never easy to shop for a teenager, especially if their tastes change frequently. We rounded up 47 gifts to make it easier to find the perfect gadget, game, or accessory.  Browse all of Insider Reviews' gift guides for more great gift ideas. Being a teenager is tough, but trying to buy a gift for one is even harder: They can be picky and fickle when it comes to what products they want. Sometimes, the best way to show a teen that you care is just to listen, and sometimes it's a thoughtful gift to show them you see them.To make the gift search easier, we curated 47 gifts ranging from a card game to a smartwatch to a quick-drying hair towel at various price points to ensure as many options as possible.If you are still unsure of what to get (and you can't ask them directly) try consulting their friends. Either way, a smart general rule of thumb is to make sure your gift is returnable. The 47 best gifts for teens: Disposable cameras to help them stay in the momentAmazonFujifilm Instax Mini 9 Instant Camera, available at Amazon, $71.44Funsaver One Time Use Film Camera (2-pack), available at Amazon, $45.30Disposable cameras are popular right now, partly because of the nostalgic aesthetic of a polaroid and partly because of their simplicity. Spending so much time immersed in technology — and combatting the temptation to retake and edit photos in real-time — keep us from staying present.Disposable film cameras or polaroids help preserve memories without adding to their screen time. Plus, they give them cute photos to decorate their room with!Glossier's fan-favorite productsGlossierBoy Brow + Balm Dotcom + Futuredew Pack, available at Glossier, $42No-makeup makeup is in right now and, if your teen is into beauty products, they may appreciate a gift from Glossier, which is the "natural and glowy" brand Olivia Rodrigo says she wears in her Vogue beauty diary.We'd recommend a gift card or a pack like the Boy Brow + Balm Dotcom + Futuredew pack, which covers three of its fan-favorite products.A great bookAmazon"Ready Player One" by Ernest Cline, available at Amazon and Bookshop, from $11Books are an incredible gift if your teen is a reader. It can translate into hours of enjoyment at a minimum and, at its best, a favorite story that follows them well into adulthood.Plus, if you've read the book, it can also mean great conversations about it or movie adaptations to watch together. It's also a gift where money doesn't really matter; you can find a great read for $20 and spending more won't make much difference.Some book suggestions:"All the Bright Places," a popular YA book on TikTok"Scythe," a bestselling dystopian YA book similar to "The Hunger Games"The best young adult books, according to a teenagerThe best young adult romance booksThe best young people's literature of 2021 according to the National Book AwardsThe best books we read in our 20sAn eco-conscious tie-dye beanieFree The EarthFeel the Earth Breathe Tie Dye Beanie, available at Free People, from $40These unisex tie-dye beanies come in cool colors and with a unique plant logo. (To date, the Parks Project has reportedly contributed over $2,000,000 to help fund vital projects in national parks around the US).Ribbed beanies are big right now, à la the popular Carhartt beanie. If they've got that staple covered, the Parks Project also has tube socks. A splashproof, portable Bluetooth speaker perfect for outdoor tripsAmazonUltimate Ears Wonderboom 2, available at Amazon, $91.11This rugged, compact speaker can go with them anywhere. It's waterproof, has an "outdoor boost" button specifically for listening outside, is "drop-proof," and boasts a 13-hour battery life.A plush toy that they can heat upUrban OutfittersSmoko Mini Toasty Heatable Plushie, available at Urban Outfitters, $18Whenever they need some cozy comfort, they can heat up this cute animal-shaped heating pad for a snuggle.A portable phone chargerAmazonElecjet Powerpie Portable Charger, available at Amazon, $54.99This handheld charger can charge up your teen's smartphone or various devices like an iPad or small laptop so they can stay in touch, turn their paper in on time, or just never have to stress about 5% battery life.Sheet masks to go with a Netflix marathonAmazonTONYMOLY I'm Real Sheet Masks, available at Amazon, $26There are few things my 15-year-old sister loves more than oversized hoodies, Boba, and an endless supply of sheet masks. Grab a pack, throw them on, and make a night out of it with your teen's favorite candy and TV show.A pair of trendy, easy-to-use AirPodsAppleApple AirPods Pro with Charging Case, available at Target, $179.99If you're after the title of their favorite relative of the year, here's a good place to start. AirPods are both easy to use and functional as well as trendy. A Boba-shaped AirPods Pro caseUrban OutfittersSmoko Boba Tea AirPods Pro Case, available at Urban Outfitters, $18As I mentioned, part of my 15-year-old sister's ideal trifecta is Boba. You can pick up a cute, fun case no matter what their interest is — Baby Yoda, gaming, Boba, or whatever else. A Bluetooth water bottle speakerGrommetBluetooth Water Bottle Speakers, available at Grommet, $39.95This Bluetooth water bottle speaker offers a boost of hydration and fun for everyone. The water-resistant speaker resides at the top, ensuring greater sound quality that lasts 6-10 hours. It's the perfect accessory for them to bring to every hang-out session. A slim leather walletAmazonBellroy Slim Sleeve Leather Wallet, available at Amazon and Bellroy, $79This thin wallet is a subtle nudge toward minimalism, something many teens appreciate. The Bellroy Slim Sleeve wallet offers room for up to eight cards and a pocket to stash cash. It comes in a variety of colors and features environmentally certified leather.An eco-friendly phone casePelaPela Phone Case, available at Amazon and Pela, from $38.95Pela offers a wide variety of biodegradable cases for iPhone and Android, all made from plant-based polymers. Pela cases are rugged enough to offer drop protection, and if a phone has both a Pela case and screen protector but still cracks, Pela will cover the bill to get it fixed.A comfortable and sustainable Patagonia pullover they'll wear all the timePatagoniaLightweight Synchilla Snap-T Pullover, Men, available at Patagonia, $119Patagonia Women's Better Sweater 1/4-Zip Fleece, available at Patagonia, $119A Patagonia sweater is a particularly good gift for teens who are interested in sustainability. The company has been turning plastic bottles into polyester for its clothing since 1993 and continues to do so today.Its Snap-T pullover is the unofficial uniform of the cozy adventurer. It and the Better Sweater are long-held favorites, and both are comfortable classics that they'll no doubt come to rely on heavily during colder weather.Not sold on the Patagonia option? They may also appreciate the Acadia Recycled Polar Trail Fleece from the environmentally-conscious Parks Project.A gift card for stylish new glassesWarby ParkerGift Card, available at Warby Parker, from $50Teens are a notoriously picky bunch, so you can never go wrong with a gift card. If they're in the market for new glasses or sunglasses, we recommend Warby Parker because of its versatility, size flexibility, and free at-home try-on program. An Amazon Echo Dot for hands-free calls, alarms, music, updates on the weather, and moreAmazonEcho Dot (4th gen), available at Best Buy, $29.99The Amazon Echo Dot is the most popular Amazon device for a reason — it's compact and has all the capabilities of Alexa (weather updates, recipes, music, news) without any of the bulk. A smartphone-sized travel photo printerTargetHP Sprocket 200 Photo Printer, available at Amazon and B&H Photo, $79.99This tiny, compact device prints photos with sticker backing on ZINK film with Zero Ink technology. It connects to devices via Bluetooth, and multiple devices can connect at once (personalized LED lights indicate who's currently printing). String lights with clips for photosAmazon/Business InsiderPhoto Clip LED String Lights, available at Target, $10Perfect for creating the archetypal teen room that's most often seen in Netflix movies and old Taylor Swift music videos, the photo clip string lights combine warm light and Polaroids (or other memorabilia). A trendy Champion sweatshirtUrban OutfittersChampion Reverse Weave Fleece Crew Neck Sweatshirt, available at Urban Outfitters, $54Like Fila, Champion is a brand that's had a resurgence as of late. If you want to get them something they'll end up wearing all the time, this is a good candidate. A new video game"The Legend of Zelda: Skyward Sword HD" / Nintendo"The Legend of Zelda: Skyward Sword HD", available at Amazon, from $52.99If they're really into video games, all other gifts may pale in comparison to a really good new one. Check out "Hades," "NBA 2K22," and "The Legend of Zelda: Skyward Sword HD."A vinyl record membershipVinyl Me, PleaseGift Membership, 3 months, available at Vinyl Me, Please, $119There's no greater joy than adding to a record collection or playing a new album for the first time. Your recipient gets to choose from three different types of tracks each month and will also receive extra goodies in each package. They'll also get one bonus record as part of the three-month gift membership. A gentle facial cleansing device that removes 98.5% of dirt and makeupFOREOLuna 3 Facial Cleansing Device, Men, available at Foreo, $199Luna 3 Facial Cleansing Device, Women, available at Foreo, $199FOREO's cult-favorite Luna 3 cleansing device gently and effectively cleans with thin, antimicrobial silicone touch-points, and it removes 98.5% of dirt and makeup residue without irritating the skin. Plus, it's 100% waterproof and the battery life lasts for a few months per charge.This newest generation also offers an array of massages to tighten the skin for a youthful look. Find a full review on the previous generation Luna 2 from a female reporter and a male reporter here.Comfortable lounge pants that look put-togetherMeUndiesThe Lounge Pant, Men, available at MeUndies, $68The Lounge Pant, Women, available at MeUndies $68MeUndies is a popular LA startup that makes some of the most comfortable underwear we've ever tried. Their lounge pants, however, are the real hidden gem — perfect for lounging around on weekend mornings or heading to the dining hall when they get to college (yep, they'll last that long) while still looking sleek.A subscription to a famous book club that sends them great hardcovers each monthBook of the Month/Instagram3-Month Gift Subscription, available at Book of the Month, $49.99If your teen is a bookworm, Book of the Month is an especially cool gift. It's a book club that has been around since 1926, and it's credited with discovering some of the most beloved books of all time (like "Gone with the Wind" and "Catcher in the Rye" to name a couple).If you gift them a subscription, they'll receive a hardcover book delivered once a month. Books are selected by a team of experts and celebrity guest judges.If they're really more into audiobooks or e-reading now rather than hardcovers, check out a gift subscription to Scribd (full review here).An Apple Watch that combines their smartphone with a fitness trackerAmazonApple Watch SE GPS, 40mm, available at Apple, from $279If you have a little extra to spend on your teen, consider getting them a smartwatch. The Apple Watch SE is like a smartphone, fitness tracker, and music player all in one. Just like on their phone, they can customize the watch to show their favorite apps to pick, including social media.A cute iPhone caseSociety6Coffee Reading iPhone Case, available at Society6, $35.99This fun iPhone case is funny and unique, and most of their friends probably won't have the exact same one. Reusable strawsAmazonHiware Reusable Silicone Straws (10-pack), available at Amazon, $6.99Help teens do their part to keep single-use plastics out of trash bins, landfills, and the ocean by giving them this pack of reusable silicone drinking straws. They come in various colors and include a few cleaning brushes as well. A set of velvet retro-inspired scrunchiesAmazon/Business InsiderHair Scrunchie Variety Pack, available at Target, $6.99Another trendy gift is as many scrunchies as you can carry. This pack comes with 12 options in enough colors to work with virtually any outfit or mood. A multicolor mini cinema light boxUrban OutfittersMulticolor Cinema Light Box, available at Uncommon Goods, from $20These trendy lightboxes are inspired by cinema marquees, and they come with 100 letters and symbols for personal messages. This one also has color-changing LED lights for further customization.Fun and useful PopSockets for the back of their phoneAmazon/Business InsiderPopGrips, available at PopSockets and Amazon, from $10PopSockets have become their own cultural phenomenon in recent years, and they're surprisingly useful. Get your teen one for their own phone or tablet, and depending on their age, you may find it's the gift they're most excited about. It doesn't hurt that there's free domestic shipping on orders over $20, or that you can actually design your own.A waterproof e-reader with a no-glare screenAmazonAll-New Kindle Paperwhite, available at Amazon, $129.99Amazon's Kindle Paperwhite is its thinnest, lightest version. It also has double the storage, a built-in light that adjusts to accommodate reading indoors or outdoors, and is waterproof for reading anywhere, including the beach or bath. Plus, a single battery charge lasts weeks rather than hours.Cool backpacks from a popular startup with a charitable missionSTATE Bags/FacebookState bags and accessories, from $15State bags are increasingly popular thanks to their versatile, laid-back aesthetic and characteristically bright nylon colorways. They're also known as #GiveBackPack(s), because for every State bag purchased, State hand-delivers a backpack — packed with essential tools for success — to a local child in need. The Lorimer and Bedford are two of the company's best sellers.A three-month subscription of beauty productsBirchBox3-Month Subscription, available at BirchBox, $45Teens are usually among the most interested in the latest and greatest beauty or grooming products — but may lack the funds to try all the full-sized versions. Birchbox sends samples of new and beloved products once a month, so they can test out new finds and discover products they may want to buy a full size of in the future. (It's also just fun to get an ongoing gift.)Personalized NikesNikeCustomizable Nikes, available at Nike, from $120Nike makes great stuff, but it's nice to get the benefits of a great shoe without forsaking what makes something unique. You can customize a pair of Nikes for them, or give them a gift card so they can get creative making something one-of-a-kind on their own.A great Alexa-enabled speaker they can control by voiceSonosSonos One Smart Speaker, available at Sonos, from $219The new Sonos One smart speaker fills any room with clear, rich sound, and they can use Alexa to play and control their music without ever lifting a finger. Find a full review here.A cult-favorite hair towel that reduces damage and cuts drying time by 50%Aquis/Business InsiderAquis Rapid Dry Hair Towel, available at Amazon and Sephora, from $20.99Aquis' cult-favorite hair towels can cut the amount of time it takes your hair to dry in half — a claim we're happy to report holds up. The proprietary fabric also means there's less damage to wet hair while it dries. If they've ever complained about frizzy hair, this and a silk pillowcase are thoughtful gifts they'll actually use. A Disney+ subscription for access to classic movies and moreDisney PlusDisney+ Gift Subscription Service, available at Disney, $79.99/yearDisney Plus is the new Disney-centric streaming service. The platform includes Disney, Pixar, Marvel, Star Wars, National Geographic, and 20th Century Fox. You can gift a whole year of access for $80, which is something their entire family can benefit from.If you'd rather test Disney Plus out before buying, you can sign up for a free weeklong trial.A suitcase with an ejectable battery that can charge their devices on the goAwayThe Carry-On, available at Away, from $225Travel startup Away makes a great carry-on thanks to an ejectable battery that can charge devices seamlessly on the go, 360-degree wheels, and a lightweight build that travels easily. In other words, it takes a lot of the angst out of travel and may make family trips far more enjoyable and stress-free.Durable sunglasses that look good, tooAmazonSmith Optics Lowdown2, available at Backcountry, $129Who better to make a pair of durable, performance-based sunglasses than the company known for innovating the ski goggle? The Lowdown2 features bio-based materials for the frame, ChromaPop lens technology which creates high contrast and vibrant colors, and an anti-reflective smudge-resistant coating.Plus, the brand offers peace of mind with free shipping, 30-day returns, and a lifetime warranty.Comfortable, high-quality sheets that come in lots of colors and patternsBrooklinenLuxe Hardcore Sheet Bundle, available at Brooklinen and Amazon, from $240We think Brooklinen makes the best high-end sheets at the best price on the market, and most of the Insider Reviews team uses Brooklinen on their own beds. It's perfect for lazy Saturday mornings or the rare occasion sleeping in is encouraged.The Luxe Hardcore Sheet Bundle comes in 15 colors and patterns that range from classic to fun, and you can mix and match them to suit their preferences. Grab a gift card (delivered digitally) if you want to give them more freedom.Fidget ballsSpeksSpeks 2.5mm magnet balls, available at Speks, $34.95Made from rare earth magnets, these tiny balls can be molded into an infinite number of shapes and designs. The size of Speks balls makes them ideal for teens to keep with them for those unpredictable moments of nervousness that fill those teenage years.A pack of smart plugs so they can control devices from a distanceAmazon/Business InsiderTP-Link KIT WiFi Smart Plug, 2-Pack, available at Amazon, $16.99Whether they're wondering if they turned off their hot iron or just don't want to get up to turn off the TV, a smart plug lets them control devices from a distance. You can connect to them using any smart device.A Time-Turner clock that actually spinsHarry PotterHarry Potter Time-Turner Clock, available at Pottery Barn, $49It may not be able to take them back in time or help them be in two places at once, but this Time-Turner clock will help them stay on top of their schedule. It even has a functional hourglass on the back so they can time their study breaks. A toothbrush with a timerAmazonOral-B Pro 1000 Electric Toothbrush, available at Amazon, $39.97Rigorous dental hygiene isn't usually on the top of the list of things teens care about, which is all the more reason a rechargeable toothbrush with a timer is a fantastic gift. This rechargeable brush breaks up 300% more plaque on the gum line than traditional brushing and lets them know when two minutes have passed.Compact hand sanitizer sprayTouchlandTouchland Power Mist Hand Sanitizer, available at Touchland, $9It's in the car, the house, and their pocket these days, but many hand sanitizers can smell a little like household cleaner. Touchland comes in scents like Vanilla Cinnamon and Forrest Berry, or keep it simple and choose unscented.The compact sanitizer features 67% alcohol for killing germs but balances it with soothing aloe vera and essential oils to hydrate the skin. A lottery card that donates to charitiesLottoLove/Business InsiderLottoLove Card, available at LottoLove, from $5When you gift this lottery card, you're actually giving the gift of charity. When you "win big," you're winning a charitable prize that gets donated to nonprofits in one of four categories: Clean water, solar light, nutritious meals, or literacy tools. To date, LottoLove and its partners have impacted lives in over 70 countries.Gift cards for concert tickets, food, and clothesChipotleYou can't go wrong with money for their favorite things, especially for teens who are often relying upon part-time jobs to fund their frequent Chipotle meals and concert trips with friends. Check out more gift card ideas here.Everything: Visa Gift Card / Amazon Gift CardCoffee and food: Starbucks Gift Card / Chipotle Gift CardEntertainment and live events: Netflix Gift Card / Xbox Gift Card / Hulu Gift Card / StubHub gift cardMusic: Spotify Gift CardSheets: Brooklinen Gift CardGroceries and food: Whole Foods Gift Card / Chipotle Gift CardClothes: Nordstrom Gift Card / Everlane Gift CardTech: Best Buy Gift CardRead the original article on Business Insider.....»»

Category: topSource: businessinsiderDec 17th, 2021

Transcript: Maureen Farrell

     The transcript from this week’s, MiB: Maureen Farrell on the Cult of We is below. You can stream and download our full conversation, including the podcast extras on iTunes, Spotify, Stitcher, Google, Bloomberg, and Acast. All of our earlier podcasts on your favorite pod hosts can be found here.   ~~~   RITHOLTZ: This… Read More The post Transcript: Maureen Farrell appeared first on The Big Picture.      The transcript from this week’s, MiB: Maureen Farrell on the Cult of We is below. You can stream and download our full conversation, including the podcast extras on iTunes, Spotify, Stitcher, Google, Bloomberg, and Acast. All of our earlier podcasts on your favorite pod hosts can be found here.   ~~~   RITHOLTZ: This week on the podcast, I have a special guest. Her name is Maureen Farrell, and she is the co-author of the book, “The Cult of We: WeWork, Adam Neumann, and the Great Startup Delusion.” I read this book a couple of weeks ago and just plowed through it. It’s a lot of fun. Everything you think about WeWork is actually even crazier, and more insane, and more delusional than you would’ve guessed. All the venture capitalists and — and big investors not really doing the appropriate due diligence, relying on each other, and nobody really looking at the numbers, which kind of revealed that this was a giant money-losing, fast-growing startup that really was a real estate play pretending to be a tech play. You know, tech gets one sort of multiple, real estate gets a much lower multiple, and Neumann was able to convince a lot of people that this was a tech startup and, therefore, worthy of, you know, $1 billion and then multibillion-dollar valuation. It’s fascinating the — it’s deeply, deeply reported. There is just an incredible series of vignettes, and stories, and reveals that they’re just shocking what Neumann and company were able to — to fob off on their investors. Everything from ridiculous self-dealing to crazy valuations, to lackluster due diligence, and then just the craziest most egregious golden parachute in the history of corporate America. I found the book to be just fascinating and as well as my conversation with Maureen. So, with no further ado, my conversation with Maureen Farrell, co-author of “The Cult of We.” VOICE-OVER: This is Masters in Business with Barry Ritholtz on Bloomberg Radio. RITHOLTZ: My special guest this week is Maureen Farrell. She is the co-author of a new book, “The Cult of We: WeWork, Adam Neumann, and the Great Startup Delusion.” The book has been nominated for a Financial Times/McKinsey Business Book of the Year Award. Previously, she worked at the Wall Street Journal since 2013. Currently, she is a reporter, investigative reporter for The New York Times. Maureen Farrell, welcome to Bloomberg. FARRELL: Thank you so much for having me. RITHOLTZ: So, let’s start a little bit with your background and history. You — you covered capital markets and IPOs at the Wall Street Journal. What led you and your co-author Eliot Brown to this story because this was really a venture capital and a startup story for most of the 2010s, right? FARRELL: Exactly. And for me, personally, I was covering the IPO market and — and capital markets the sort of explosion of private capital. So, I was looking at WeWork from both angles, basically, you know, in the small cohort of the most interesting companies that were going to go public, along with Uber, Airbnb, Lyft. And it was also part of this group that had raised more capital than anyone ever before. I was looking at SoftBank and its vision fund a lot. And then — I mean, take within this cohort, there were some pretty interesting companies, but I mean, just along the way kept on hearing, you know, Adam Neumann stood out. That’s like a little bit of a different entrepreneur that the — the stories you would just hear over time just became more and more interesting a little and vain. RITHOLTZ: So when did you decide, hey, this is more than just a recurring series of — of articles? When did you say this is a book? We have to write a book about this? FARRELL: So, we were — around August 2019, by then we were writing more and more about the company as it was clear that it was, you know, made it known that it was going to go public. Suddenly, it’s S-1, the — the regulatory documents you file publicly to go public were out there, and they were completely bonkers. They sort of captivated, I think, the imagination of the business reading public. But then over the next few weeks, WeWork was on its way to finally doing this IPO. And my co-author Eliot and I who had been cover — he had covering the company long before me. He’s a real estate. He had been covering them since 2013, then he was out in San Francisco covering venture capital. And it just became the most insane story either one of us had ever reported, like day by day there’s a playbook for IPOs. And they — you know, things are different, but they sort of follow a formula and nothing was making sense. And it just was getting more and more insane until this IPO was eventually called off. And Adam Neumann, the founder and CEO was pushed out of the company for all sorts of crazy things that were given to. RITHOLTZ: So, we’re going to — we’re going to spend a lot of time talking about that. But you hinted at something I — I have to mention. Your co-author covered real estate. Hey, I was told WeWork was a tech startup, and an A.I. company, and everything else but a real estate arbitrage play. How did they manage to convince so many people that they weren’t a Regis. The CEO of Regis very famously said, “How was what they do any different than what we do?” FARRELL: Well, they tried to convince Eliot Brown, my co-author, of the same thing. He — he had heard about Adam Neumann and his company. He started seeing the valuation. Back then I think it was $1 billion, $1.5 billion, and he was … RITHOLTZ: Right. When that became a unicorn, suddenly it was like, “Wait, this is just a real estate play.” FARRELL: Exactly. And he was covering other commercial real estate companies like Regis. And he had followed them and he was like, “Wait, they only have a couple of locations even still at that point.” So, he went in to meet Adam Neumann for the first time, and he’s got great stories. But as part of it, Adam was like really horrified. He was, you know, very nice, his charming self, but also saying, “Hey, you’re a real estate reporter … RITHOLTZ: Right. FARRELL: … for the Wall Street Journal. You’re the last person who should be covering this company. Do you have someone who covers like community companies?” RITHOLTZ: Right. FARRELL: And Eliot said, “No, and I’ll be following you from here on out.” RITHOLTZ: We’ll — we’ll talk about community-adjusted EBITDA a little later also. But — but let’s talk about the genesis of this because Neumann and his partner McKelvey had a — a legit business Greendesk, the — was the predecessor to WeWork. It was sold. I don’t know what the dollar amount was. Was that ever disclosed? FARRELL: Ah. RITHOLTZ: But — but it was not — nothing. It was real. And the two of them rolled that money plus a third partner who is also — Joel Schreiber is a real estate developer in New York, not coincidently. And in 2010, they launched WeWork with the first site in SoHo. So why is this real estate assign long-term leases and sell shorter-term leases at a significant markup? How is this not possibly a real estate concern? How? What was — what was the argument they were making to people that, “Hey, we’re a tech company and we deserve tech company valuations.” FARRELL: Sure. So exactly as you said, they have this Brooklyn business that was the genesis of WeWork. It was — it had a lot of that business, and it was what they took to make WeWork. It has a lot of innovation to it in terms of architecturally the aesthetic of it. I mean, we probably all have been to WeWork. They’re just — they’re beautiful buildings. RITHOLTZ: Funky, fun … FARRELL: Yeah. RITHOLTZ: … open … FARRELL: Light coming through … RITHOLTZ: … with a beer tap and lots of glass. FARRELL: … we had light streaming through the windows. You put — you pack people very close together. So, something they started in Brooklyn, it took off, but then their — the landlord there didn’t want to grow it, so they — they split up, they moved on. Adam and his — his co-founder Miguel McKelvey. And from the very beginning, the idea was something so much bigger. They say they created — they like sketched out something and it was like essentially WeWorld. It would be, you know, schools, and apartments, and this whole universe of we. But basically, as you said, I mean, throughout for the most part, it was this like arbitrage building, arbitrage company in terms of getting long-term leases and splitting it up. RITHOLTZ: All right. So, by 2014, they have a pretty substantial investor list, J.P. Morgan Chase, T. Rowe Price, Wellington, Goldman, Harvard Endowment, Benchmark Capital, Mort Zuckerman. Was this still a rational investment in 2014 or when did things kind of go off the rails? FARRELL: By then it still seemed like the valuation was really getting ahead of itself, and it was very much predicated on this idea that you said being a tech company. And I mean, at Adam Neumann’s genius was in marketing and fund raising. And what he had the ability to do really each step of the way and it’s — it’s masterful was sort of take — take the zeitgeist, like the big business idea of the moment that was captivating investors and put that on top of WeWork. So, he’s very into — a little bit before this like sort of acquainting it to Facebook. You know, Facebook was the social network. This is like a social network in person. RITHOLTZ: In real life, right. FARRELL: In — yeah, real life social network. And he didn’t manage to kind of convince people bit by bit. I mean, it’s interesting, Benchmark, you know, as you know, is like one of the top … RITHOLTZ: Legit — right, top shelf V.C., absolutely. FARRELL: Yeah, that’s been some — behind some of the biggest tech companies. RITHOLTZ: Bill Gurley, Uber, go down the list of just incredible … FARRELL: Snap. RITHOLTZ: … yeah, amazing. FARRELL: eBay. Yeah, they’ve had — through — for decades, they’ve been behind some of the biggest companies. So, they were willing to take a gamble on them, and then they saw red flags, but just decided to jump in anyway. But for Benchmark, I mean, we see and they ultimately — they get in at such a low valuation, it’s … RITHOLTZ: Doesn’t matter. FARRELL: … exactly like — you know, they want their homeruns. And I mean, it’s still — they still ultimately got out at a pretty good — really incredible return, but it’s … RITHOLTZ: Right, $600 million to $10 billion, something like that, something (inaudible). FARRELL: Yeah, something like that. RITHOLTZ: So — so just to clarify because I — I’m — I’m going to be trashing WeWork for the next hour, but this wasn’t a Theranos situation or a Bernie Madoff, this is not an issue of fraud or anything illegal or unlawful. Fees just were insane valuations. Somebody did a great job selling investors on the potential for WeWork, and it didn’t work out. FARRELL: I’m glad you brought that up because a lot of people do ask about the differences and the parallels between Elizabeth Holmes and Adam Neumann. And I — I mean, I almost think the story, in some ways, is more interesting. I mean, the Theranos story is, obviously, the craziest and — and horrifying in so many ways. But with Adam Neumann, on the margins, there are questions about, you know, some of them (inaudible). RITHOLTZ: They’re self-dealing and there’s some — a lot of avarice. And he just cashed out way, way early, so you could criticize his behavior. But, you know, you end up with the VCs and the outside investors either looking the other way or turning a blind eye. It’s not like the stuff wasn’t disclosed or anything, he was very out front. No, I need — I need a private jet because we’re opening up WeWorks in China and in 100 other countries, and I have to join around the world. FARRELL: Yeah, and maybe you (inaudible) thing. RITHOLTZ: Now, you need a $65 million (inaudible) is a different question. But, you know, there — they didn’t hide this. They were like proud of it. FARRELL: No, and I think it is every step of the way, you see. I mean, the investors and these were some of the most sophisticated investors in the world and some of the — you know, they are thought of as the smartest investors. They saw the numbers that WeWork was putting forth and they were real, real numbers. They also saw their projections and the projections were mythical, and they never quite reached them. But you could see, if you are going to invest in any round of WeWork, you could see what their prior projections were, how they failed to hit them. But instead, the thing that we saw time and time again to this point was, very often, Adam Neumann would meet the head of an investment company, whether it’s Benchmark or SoftBank or T. Rowe Price, like the — the main decision-maker totally captivate this person. You know, it’s usually a man. The man would become kind of smitten with Adam and all his ideas and what he was going to do, totally believing it. The underlings would look at the numbers, raise all these red flags, point them out. And then the decision-maker would say … RITHOLTZ: Do it anyway. FARRELL: … yeah, he’s amazing. (COMMERCIAL BREAK) RITHOLTZ: So I want to talk about the rapid rise of WeWork and their — their really fast growth path, but I have to ask, what sort of access did you have to the main characters in the book? Were people forthcoming? I have to imagine there were some people who had grudges and were happy to speak. What — what about the — some of the original founders, Adam and his wife Rebekah? Who — who did you have access to? FARRELL: Sure. So, you know, in the interest of privacy, I can’t get into specifics. But what I will say, the interesting thing was, I mean, when we really got access for hours and hours to the vast majority of players at every step of the way in this book. And the — one of the funny things was, I mean, the pandemic really started right as Eliot and I took book leave. We started a book leave in late February 2020. And we had both planned to sort of be and all around the world, meeting people in person. Eliot had moved to New York to meet a lot of the players in person. Obviously, the world shut down and, you know, was kind of nervous about what that would mean in terms of conversations. And the funny thing was I think people are home, bored, feeling pretty reflective. So, there are a number of people that said … RITHOLTZ: What the hell. FARRELL: … I didn’t know if I wanted to talk to you and … RITHOLTZ: But what the hell. FARRELL: … these — some of these people I probably had like 10 conversations … RITHOLTZ: Really? FARRELL: … for hours with. RITHOLTZ: And — and there are 40 something pages of endnotes. It’s — I’m not suggesting that this isn’t deeply researched because a lot of these conversations that you report on like you’re fly on the wall. Clearly, it can only be one of two or three people. So, it looks like you had a ton of access to a lot of senior people and I guess, we’ll just leave it at that. So — so let’s talk about that early rise in the beginning. They were really ramping up very rapidly. I mean, you could see how somebody interested in investing in a potential unicorn in 2012, ’13, ’14 coming out of the financial crisis. Hey, the idea of all these startups just leaving a little bit of space and not a long-term lease, it looks very attractive. It looks like, hey, you could put WeWorks wherever there’s a tech community, and they should do really well there. FARRELL: Yeah, there — and it was — the marketing was — it was very viral at that point. It was, you know, people would tell their friends about it, and they would fill up very rapidly. And they were building more and more. I mean — and this is one of the — you know, as part of the genius of Adam Neumann was, you know, he was telling people from day one they were really struggling to even secure the lease on the first building. And he was like, oh, we’re going to be global, we’re going to be international. He would set these goals of how many buildings they would open and people internally, and even investors, would say, “Oh, this is impossible.” RITHOLTZ: Right. FARRELL: And he would — and he would hit that. He kept on sort of defying gravity, defying disbelief or questions. So, the growth was incredible and they were filling them up. We could talk about, you know, the lack of the cost of doing so. RITHOLTZ: Right. They — they were paying double to — to real estate agents when everybody else was paying. They were going to competitors and saying, “We’re going to reach out to your tenants, and we’re going to offer them free rent for a year.” I mean, they were really sharp elbowed and very aggressive. FARRELL: Especially as time went on. We did find that there is one year we got all their financials. We — you know, we got our hands on a vast trove of documents, but there was one year — I think it was 2011 — that they, I think, made $2 million in profit. RITHOLTZ: Wow. FARRELL: We were — we were kind of shocked to see that. We don’t think they had ever made a profit. And then from there, they did not, and the billions and billions just added up in terms of losses. RITHOLTZ: So — so the rapid rise, we — we mentioned, they peaked in 2019 at more than $47 billion. Neumann recently did a interview with your fellow Times correspondent Adam (sic) Ross Sorkin, and he was somewhat contrite. He — he had admitted that all the venture money and all the high valuations had — went to his head, quote, “You lose focus on really the core of the business and why the business is meant to be that way. It had a corrosive effect on my thinking.” That’s kind of a surprising admission from him. FARRELL: It was. Yeah, I mean, his mea culpa is very interesting. And I mean, one of the things that people said along the way was, you know, the — the higher the valuation, the more out of touch she became. I mean, he — he had a narcissist. And I don’t know what you want to call it, but … RITHOLTZ: Socio-pathological narcissistic personality disorder? I’m just — I’m not a psychologist, I’m just guessing, or a really successful salesman/CEO. There’s like a thin line between the two sometimes, it seems. FARRELL: And some of it — I mean, it seems insane. It was like, oh, he thought of himself in this like same — like with along with world leaders, but world leaders were really sort of … RITHOLTZ: Tailing him. FARRELL: … really wanted to meet him. RITHOLTZ: Yeah. FARRELL: Yeah. And he was like — we have a scene in the book that he was debating whether or not he was going to cancel on Theresa May because he had promised his wife that he would teach a class on entrepreneurship to their new school, so it was like a few of their kids and a few of their kids’ friends were in the school. RITHOLTZ: Right. FARRELL: And they’re about five years old, five or six. And he had promised — and his wife … RITHOLTZ: Prime Minister, a five-year-old, that’s it. So, when you talk about losing touch with reality, some of the M&A that the startup did. Wavegarden or wave machine was a — like a surf wave machine, meetup.com, Conductor, they ended up dumping these for a fraction of what they paid for them. But what’s the thought process we’re going to become a technology conglomerate? I don’t — I don’t really follow the thinking other than will it be fun to have a wave machine at our buildings, like what’s the rationale there? FARRELL: OK. So, there were — there were two parts to that, and part of it was like it was the world was Adam Neumann’s playground, and he loves surfing, and he thought that — you know, that he found out this company has wave-making mission. They would make waves. So, him and his team went to Spain to surf on them and test them out, but he could basically convince his board, in general … RITHOLTZ: Right. FARRELL: … who had to approve these that anything made sense, whether it’s the jet, the wave pool company or friends of his. I mean, Laird Hamilton, the famous surfer … RITHOLTZ: Right. FARRELL: … was a friend of his. They invested like in his coffee creamer company. But then the second — so it was so many unseen investments that I really didn’t necessarily make any sense. But then on the other side, one of the things that we thought was interesting, he had this deal with Masa who — Masayoshi Son. He’s the CEO of SoftBank, became WeWork’s biggest investor, biggest enabler, you might say. RITHOLTZ: Yeah. FARRELL: And one of the — they were going to do this huge deal that would have actually kept WeWork private forever. It never came to pass, and that’s why it was sort of the beginning of the end when this deal fell apart. But as part of it, a lot of the deal is predicated on growing revenue. So, Adam also became obsessed with acquisitions like whatever they could possibly do to add more revenue to the company. I mean, he was talking about buying Sweet Cream, and he had like got pretty far along in the salad company … RITHOLTZ: Yeah, amazing. FARRELL: … in conversations with them. So, it was this idea of like let’s just throw in anything, we have money, and let’s just grow our top line. Who cares about anything else? RITHOLTZ: Let’s talk about Rebekah Neumann. She was Adam Neumann’s wife. What — what what’s her role in WeWork? How important was she? FARRELL: Her role is just so fascinating throughout. So, I mean, he — he met her right as he was starting Greendesk. And I think she just sort of opened his eyes. She’d grown up very wealthy. She’s Gwyneth Paltrow’s cousin. She had always ties to Hollywood. She gave him a loan early on, a high interest loan, I think even after they were married that we report about in the book. But as time went on, she — she really want a career in Hollywood, decides to — at one point, she — she was trying to be an actress and she tells someone that she’s done with Hollywood. She’s producing babies now. They’ve gone on to have six kids. But she sort of always kind of dabbled in the company, and they retroactively made her a co-founder. RITHOLTZ: Right, she wasn’t there from day one. It was only later she got pretty active. FARRELL: Yeah, she told people like giving tours early on that she help pick out the coffee in the — in the early WeWorks. But — so she became more active, but she was sort of jumped in and out. And it was by the — one of the things that she had a big focus on their kids were growing up, she didn’t really like their choices of private or public schools, so she decided to start — she helmed sort of the education initiative that’s something … RITHOLTZ: And she was deeply qualified for this because she — she was a certified yoga instructor, right? FARRELL: Yeah, she had been. RITHOLTZ: And — and I know she went to Cornell, which is certainly a good school. What bona fide does she bring to technology, real estate, education, like I’m trying to figure it out. And in the book, you don’t really go into any details that she’s qualified to do any of these things. FARRELL: I mean, especially with — with education, it’s like she didn’t — she want this — essentially she wanted a school for her children, and she wanted very specific things in that school. And once again, they decided that that would be the next like frontier for WeWork. They’re always adding different things. But no one really — then they let them do this. They started this school in New York in the headquarters, and they were going to teach the next-generation of entrepreneurs. And … RITHOLTZ: Right. FARRELL: … I mean, they — one of the things — I mean, it was the education arm more than — as much or more than other parts of it is just so tragic because they had a lot of money. She’s — she, like Adam, can just speak like — speak so — like eloquently and with this vision. So, she attracted all these very talented teachers. She sort of wooed them from the schools that they were in before and told them that they were going to start this, you know, new enterprise and change education forever. And it’s just really devolved so quickly. It became very like kind of petty. I mean, if you pull so they have PTSD from her like obsession with like the rugs like … RITHOLTZ: Right, just … FARRELL: … it was a Montessori-type school. And yeah, she obsessed over like the color of white of the rugs and made them like send back 20 rugs. RITHOLTZ: What was the most shocking thing you found out about him or her or both? FARRELL: So, one — one of these was — I mean, there is a lot of the — their personal lives, as we said, whether it was a school or other — other things where their kids are educated in, just the way in which the personal entanglements, you know, small and huge levels, but I’ll give two examples. I mean, one of the things that people said in the school, so within the WeWork headquarters was a whole … RITHOLTZ: Right. FARRELL: … floor and it’s beautiful if you see pictures of it, like it just this – like really incredible school. RITHOLTZ: Money was no object. FARRELL: Yeah. And they had Bjarke Ingels, this famous architect designed the school. And — but they basically, on Friday nights, would have dinners with their friends there. And according to many people would — the team would come in Monday morning … RITHOLTZ: It’d be a disaster. FARRELL: … it will be a complete … RITHOLTZ: Right. FARRELL: … disaster. So, it was like really on so many levels like everything was their personal … RITHOLTZ: So, entitled. FARRELL: Yeah. And the second thing that really shocked us was she was very — she had a lot of kind of like phobias around like health and wellness. And she says — I mean, she had a — a real tragedy in her family. Her brother died from cancer, and so she was always — she’s very focused on and she said it as much in podcasts and things. But she was very fixated on 5G. And she’s worried about vaccines for their kids. And — but the 5G of like what that could do for — you know, these signals. She wouldn’t let them have printers on the floor, like any printers on — wireless printers on the floor of the school. But there is a — they bought this … RITHOLTZ: Can you — can you even by 5G printers today? What — what was the … FARRELL: Oh, no, it’s a wireless. RITHOLTZ: … yeah, just Wi-Fi? FARRELL: Yeah, the wireless like freaked her out, so the teachers of that are like run up and downstairs to just print everything. It seems ridiculous. But the 5G towers, there was one, either being built or built right near there, across the Beam Park. RITHOLTZ: (Inaudible) City Park. FARRELL: Yeah, right nearby. So, she was so obsessed with it. She didn’t want to move in there. They had bought like six apartments in this building that she — the CFO — this is around the time they’re preparing for the IPO. I used to work at Time Warner Cable, who is the CFO of Time Warner Cable. So, she said, “Can you, Artie Minson, help us get rid of the 5G tower and have it moved?” And basically, he deputized another aide who used to work for Cuomo and worked for Governor Christie, the — both former governors. And they — like that was something they — they actually worked on. So, the — yeah, that interplay was just kind of insane. RITHOLTZ: Seems rational. There was a Vanity Fair article, “How Rebekah Neumann Put the Woo-Woo in WeWork,” and — and what you’re describing very much is — is along the lines of that. I’ve seen Neumann described as a visionary, as a crackpot, as — as a grifter, but he thinks he’s going to become the world’s first trillionaire, and — and WeWork the first $10 trillion company. Is — is any realistic scenario where that happens or is he just completely delusional? FARRELL: I mean, it seems insane and like he seems completely delusional, but he had a lot of people going along with him, including the man with one of the biggest checkbooks in the world who is Masayoshi Son, the CEO and Founder of SoftBank, who had just — I mean, the timing of the story, it’s like there’s so many things that happened at the first enrollment. RITHOLTZ: Saudi Arabia wanting to diversify, giving a ton of money. You — you call Son the enabler-in-chief. He — he put more than $10 billion of capital showered on — on to WeWork. How much do you blame Son for all of this mayhem at least in the last couple of years of WeWork’s run as a private company? FARRELL: It seems like he was the main — you know, the main person kind of pushing all of this. And when you talk to a lot of people around Adam, they just said they were just such a dicey match like that Adam was crazy to begin with. Everyone thought that. You know, it can go both ways, but … RITHOLTZ: Yeah, but people drank the Kool-Aid. It — it reminded me — you don’t mention Steve Jobs in the book, but very much the reality distortion field that Jobs was famous for, I very much got the sense Neumann was creating something like that. How did he get everybody to drink the Kool-Aid? Was he just that charismatic and that good of a salesman? FARRELL: I think so. And it was just he could talk about things and make you feel like the reality was there, this reality of distortion field. He was — he was masterful in that. Yet the thing that he did was he always found new pots of money … RITHOLTZ: Right. FARRELL: … all over the world. I mean, it was the time — it was the time when the private capital markets were getting deeper and deeper, the Fidelitys and the T. Rowe that like normally kind of sober mutual funds … RITHOLTZ: Right. FARRELL: … were jumping into startups. And they — they were — we call one of the chapters FOMO. It was like the … RITHOLTZ: Right. FARRELL: … fun FOMO. They were fearful of missing out on the next big thing. So that we’re sort of in this climate where there is an appetite to go after, to just take a chance for the chance of getting the next like maybe not trillion-dollar company, maybe no one but him and Masa believe that, the next big thing. RITHOLTZ: But the next 100X — right. And that’s really — you know, it’s always interesting when you see these stayed, old mutual fund companies that have literally no experience in venture capital or tech startups, but happy to plow into it because they — they — they want to be part of it. And maybe that’s how we end up with community-adjusted EBITDA. Can — can you explain to us what that phrase means? I don’t even know what else to call it. FARRELL: Sure. So WeWork was losing every — every step of the way. They were growing revenue more than doubling it. You know, they’re expanding all around the world. And with that, they were losing just as much, if not more every single year than they were taking in. So, they had this brilliant idea, really a lot stemming from the CFO and Adam Neumann love the CFO’s creation. His name is Artie Minson, the CFO. And it was this idea that you essentially strip out a lot of the costs of kind of creating all the — building out all the WeWorks and, you know, marketing and opening up new buildings. You strip it out, and then you’re suddenly a profitable company. It’s like the magic. RITHOLTZ: Wait, let me — let me make sure I understand this. So, if you eliminate the cost of generating that profit, you suddenly become profitable. How come nobody else thought of this sooner? It seems like a genius idea. FARRELL: Oh. RITHOLTZ: Just don’t — it’s profits, expenses. It’s fantastic. FARRELL: And the — the conviction with which certain people inside, especially on the finance team, believe this. I mean, they were saying throughout that like, oh, we will be a profitable company if we — the idea was if we just stop growing, we could be profitable right now. We take in more per building. (COMMERCIAL BREAK) FARRELL: Then we spend on it. But, you know, that never was the case. RITHOLTZ: So, let’s stick with the delusion concept. We talked about WeGrow, and we talked about WeLive a little bit, crazy stuff. What made this guy think he can help colonize Mars? Right, you’re laughing. You wrote it yourself, and it’s still funny. FARRELL: It is still … RITHOLTZ: By the way, I found a lot of the book very amusing, like very dry, like you guys didn’t try and crack jokes. But clearly, a lot of the stuff was just so insane. You read it, you start to laugh out loud. FARRELL: I’m — I’m glad to hear that because I think that we would joke that like every day. I mean, we’re in different places writing it. We are on calls constantly, and we would call each other. And it was often multiple times a day we would call each other and say, “You will never ever believe what I just heard.” And we would crack up, and we — we had a lot of fun writing it because it’s just — it was — the truth of the story was like more insane than … RITHOLTZ: Right. FARRELL: … anything we could have made up ever. RITHOLTZ: That’s the joke that, you know, the difference between truth and — and fiction is fiction has to make sense, and truth is under no such obligation. So, let’s talk about Neumann colonizing Mars. FARRELL: Yeah. RITHOLTZ: I mean, was that a serious thing or was he just, you know, on one of his insane (inaudible) and everybody comes along? FARRELL: There — there — speaking of fine lines, I mean, he just — I think he — he started to believe more and more of like these delusions. And so, I think he really did, and yeah, he got this — he secured a meeting with Elon Musk, and he – Elon Musk — he always — Adam was always late to every meeting, would make people wait for hours, like even like the bankers in the IPO would just sit around. There’ll be rooms of like dozens of people waiting for Adam, and he’d show up like two hours late. But Elon Musk made him wait for this meeting. They sat and sat and sat, and then he told Elon Musk that getting — that he thought — like building a community on Mars is what he would do and he would help him with. And he said, you know, “Getting — getting to Mars is the easy part. Building a community is the hard part.” RITHOLTZ: Right. Because, you know, it’s very hard to get those beer taps to work in a … FARRELL: Yeah. RITHOLTZ: … low-gravity, zero atmosphere environment. It’s a challenge, only WeWork could accomplish that. FARRELL: The – the fruit water. RITHOLTZ: Right. So — so I want to talk about the IPO, but before I get to that, I — I have to ask about the corporate offsites, the summer camp, which were described as three-day global summits of drinking and drug consumption. It was like a Woodstock event, not like a corporate retreat. How did these come about? FARRELL: So, Adam would say that he never — he grew up in Israel and he moved to the U.S. He lived for a little while the U.S., but move later in life. So, you said he never got to go to American summer camp, so he was going to recreate summer — American summer camp literally. They started at his wife’s family’s had a summer camp in upstate New York. That’s where they started. They just got bigger and bigger, eventually going to England and taking over this like huge like field — this huge estate there and bringing every single member of the company flying them from all over the world. RITHOLTZ: And there were thousands of employees? FARRELL: Thousands upon thousands, and the cost was unbelievable of every piece of it. I mean, every year, they just got bigger and bigger. I mean, the flew at the height of his fame not that he’s far off of it, but Lin-Manuel Miranda like, at the height of Hamilton, they flew him on a private jet. He — he performed on stage. The Roots came, and — and they would pay these people like … RITHOLTZ: Million dollars, right. FARRELL: … a million dollars, yeah. So, the money is no object. RITHOLTZ: That’s a good gig for an afternoon. FARRELL: Yeah, exactly. And they were — you know, especially at the beginning, it was like a younger group of people, in general. And — I mean, these — these were crazy. There’s tons of alcohol sanctioned by the company, handed out by the company. Drugs were in — you know, in supply not handed out by the company, but they were everywhere and … RITHOLTZ: And he talks about drugs. He says, “Well, we — it’s not really drugs, just, you know … FARRELL: He — so yeah, I think it — it got to a point and it was also mandatory to come to these events. So, I mean, the — they were … RITHOLTZ: And they were like meetings where there are shots, everybody has to do shots. FARRELL: Yeah. RITHOLTZ: This — this wasn’t just at these retreats, like hard partying was pretty common throughout the company or anywhere Neumann seemed to have touched. When — when he was there, everybody was expected to step-up and — and party hard. FARRELL: Including the investors. I mean, you’d walk into the office at 10 A.M., according to so many different people. And he’d insist on taking tequila shots with you in the morning in his office. And … RITHOLTZ: You didn’t have a shot before this? You — don’t you … FARRELL: Right. RITHOLTZ: … isn’t that — isn’t how every meeting begins? FARRELL: The breakfast … RITHOLTZ: Right? FARRELL: … of champions. RITHOLTZ: That’s — that’s right. So — so I got the sense from the book that they always seemed to be on the edge of running out of money, and they would always find another source, but it was all leading towards the IPO, but the S-1 one filing, the disclosures that go with an IPO filing, that seemed to be that they’re undoing the — the public just — investing public just torn apart. FARRELL: Exactly. I mean, the interesting piece of that, as you said, it was there’s always a new pool of capital like just when he thought that he was going to have to go public. And the board — and the board — I mean, one of the things we found time and time again was the board would say, you know, he’s really like crazy, things are getting out of hand. But like we won’t say no to him, but eventually he’s going to have to go public. This was back in like 2016-2017. RITHOLTZ: Right. FARRELL: We thought he was going to run out of money, the only place to go because they’re burning so much cash with the public markets. And the public markets will take care of it, which — that kind of floored us each step of the way. But yes, as you said, he — he — he knew how to captivate on — in one-on-one or bigger meetings to convince you of this future to tell you we always describe him kind of as a magician and think of him like this, like don’t look here, look here, like the sleight of hand. He could — then this S-1 came out. It was a regulatory document. You have to follow rules. RITHOLTZ: There’s no sleight of hand in S-1 filing. FARRELL: No, like you have to see. And people suddenly saw the — the broad public the revenue, the losses of a lot, not even all of these, you know, the questionable corporate governance, I mean, the — the … RITHOLTZ: The self-dealing. FARRELL: … the self-dealing, only pieces of that were even in it because the jet wasn’t in the S-1. They didn’t have to disclose it. The — and the interesting thing about this, I think there’s always like this distinction that people try to make between like, oh, the smart money and the dumb money. And it’s like the smart money is like the Fidelitys and the T. Rowes, and the SoftBanks. And then the dumb money, you know, it’s like — or the, you know, the average retail investor. And so, it’s just so interesting that like he — he captivated the — the quote-unquote, “smart money.” And then the minute this was all made public, everything was there, the world saw it and just said like what is — like this is insane. RITHOLTZ: I’m nursing a pet theory that it was Twitter that demolished him because people just had a — I remember the day of this filing, Twitter just blew up with — like a — a million people are taking an S-1 apart sentence by sentence and the most outrageous things bubbled up to the top of Twitter. And it was very clear that they were dead in the water. There was going to be no IPO, and the dreams of these crazy valuations seemed to crash and burn with the — the IPO filing, which — which kind of raises a question about, you know, how was all of this corporate governance so amiss. All the self-dealings that were allowed, so my — my favorite one was he personally trademarked the word We and then charged the company $6 million to use it. Again, he — he’s given these sort of crazy disclosure explanations. Hey, I’m only allowed to say this. But it seems he bought a bunch of buildings in order to flip them to WeWork at a profit. I don’t understand how the board — we mentioned Theranos — here’s the parallel. How did the board tolerate just the most egregious, avarice, lack of interest in the company and only enrichment of oneself? How does the board of directors tolerate that? FARRELL: I know that was — I think, if anything, from this whole story that just floored us was exactly that this board, I mean, it was a — it was a real like heavy-hitting board of directors. They’re not — and all financial people as opposed to Theranos, you know, it was like people who didn’t really know … RITHOLTZ: Politics and generals, and … FARRELL: Yeah. RITHOLTZ: … secretaries of states, right? It was a — and a lot of elderly men who were smitten with her. I mean, like men in — what was Kissinger on the board? He was 90 something. FARRELL: Yeah. RITHOLTZ: So — so with this though, the other thing that’s shocking is, you know, most founders of a successful company, they live a — a reasonably comfortable lifestyle, but the thought process is, hey, one day we’ll go public and my gravy train will come in, and I’ll have a — a high, you know, eight, nine, 10-figure net worth. Early in this time line, he was paying himself cashing out stock worth tens of millions, in some cases, hundreds of millions of dollars way, way early in — in — the company was five years old and he was worth a couple 100 million liquid, and god knows how much on paper. Again, how — how does the board allow that to take place? FARRELL: Yeah, that was — and a board, investors kind of signing off on this were jumping into it, I mean, seeing that he’s going to sell a lot of stock each round. I mean, now there does seem to be a shift and it’s kind of a scary one that this is like more private companies, the founders are selling more and more. But back then, you didn’t really see this very much. And one of the things I find very interesting is he was very much following the Travis Kalanick that — for Uber CEO’s playbook, and literally like following it that like going after the same investors, going around the world. Travis had raised more money than anyone before. Travis, every step of the way, made a huge point of, “I’m all-in. I’m never selling any stock” … RITHOLTZ: Right. FARRELL: … until he was kicked out of the company basically. So, Adam followed his playbook, but each step of the way was — said he took money out and was like prepare about it. RITHOLTZ: I mean, he was very wealthy for a — a scrappy startup founder, 14, 15, 16. You would think, hey, he’s — maybe he’s making a decent living, but not hundreds of millions of dollars, it’s kind of amazing. FARRELL: Or like having many, many, many houses. RITHOLTZ: Right. FARRELL: And they were like he didn’t hide the way in which he was living, having houses all over the world, jet setting all over the world. You know, and, in fact, he almost like, you know, wanted everyone to know that was part of his like a lure. RITHOLTZ: So, when the IPO filing in 2019, when — when that blows up, it seems to have a real impact on Silicon Valley for a while. Suddenly, high-spending, fast-growing, profitless companies looked bad, and now we’re back to we want profit growth and revenue, but that really didn’t last all that long, did it? FARRELL: No, it was unbelievable. I mean, we also — Eliot and I joked that we rewrote the epilogue like five times because, at first, we wrote it saying like this is the fallout. RITHOLTZ: Oh, look at the impact, right. FARRELL: Yeah, and it was — I mean, Masayoshi Son had his own mea culpa like, you know, I believe in Adam, I shouldn’t have, I made mistakes. But also, I want my companies to be profitable now … RITHOLTZ: Right. FARRELL: … like I’m going to invest in these companies or the companies have invested already, they should be profitable. IPO investors, public market investors were totally spooled by money-losing companies. Then — you know, then came the pandemic, then came the Fed pumping money into the system. And then, you know, now, in some ways, it’s like, wow, WeWork always like made — generated revenue and losses. It’s like now today we have Rivian … RITHOLTZ: Right, Rivian and … FARRELL: … pre-revenue … RITHOLTZ: … Lucid and, you know, it’s all potential. Maybe it works out, maybe Amazon buys 100,000 trucks from them, but that’s kind of — that’s a possibility. And, you know, more — more than just the Fed, you had the CARES Act, you had a ton of money flow into the system, but it doesn’t necessarily flow to venture-funded outfits, it’s just a lot of cash sloshing around. Is that — is that a fair statement? FARRELL: Oh, completely. RITHOLTZ: So how quickly were the lessons of WeWork forgotten? FARRELL: Incredibly quickly. I mean, it felt like it had — it like it changed everything for a few months. I mean, the other part of it was Masayoshi Son had — had raised a $100 billion fund, biggest fund ever to invest in tech companies. He was literally about to close his second fund. It was … RITHOLTZ: $108 billion, right? FARRELL: Yeah, another $100 billion fund to just go and like pour into companies. RITHOLTZ: More, right. FARRELL: And then I mean, we’ve heard from all these people who are out meeting sovereign wealth funds, Saudi Arabia, and they were just like every meeting, it was like what about WeWork. And, you know, one of the things we’ve heard was he was pushing for it to just go public, you know, or to — or not to — to not go public because he didn’t want to take the mark. He didn’t want to make … RITHOLTZ: Right. FARRELL: … all of this public. And we have a scene in the book about this that Masa tries to tell him to call off the IPO and tried to force his hand, and Adam is kind of like … RITHOLTZ: Confuses. FARRELL: Yeah. RITHOLTZ: Right. It’s — it’s — it’s really quite — it’s really quite astounding that we end up with — what did he burn through, $20 billion, $30 billion? FARRELL: More than $10 billion, I think. RITHOLTZ: Wow. FARRELL: Yeah. RITHOLTZ: That — that’s a lot of cash. FARRELL: Towards him essentially. RITHOLTZ: So — so here’s the curveball question to ask you. So, you’re now a business reporter at the Times. WeWork obviously isn’t the only company led by an eccentric leader. What are you reporting on now? What’s the next potential WeWork out there? FARRELL: You know, I’m — I’m just getting started. This is just a couple of weeks in, but — so it’s — I don’t quite know what the next WeWork is. I almost feel like there’s a lot of mini WeWorks out there, whether it’s — you know, the company is in the SPAC market. Some of these unicorns, I mean, there’s so many — so many red flags around these companies like I was saying before like if founders taking money out very early and, you know, investors are not really caring and just wanting to get into them, getting these massive packages — pay packages, compensation. So, I think there’s — there’s so many different places to look. I don’t get the sense that there’s one company now that’s sort of — of size of Adam Neumann. I think there are just a lot of many ones. I mean, he was a pretty like captivating and just insane in so many — larger than life in so many ways. But I have no doubt we’re going to find one of them fairly soon. There’ll be more. RITHOLTZ: And — and what do you think the future holds for Adam Neumann himself? He — we — we have to talk about the golden parachute, so not only does SoftBank refinance a couple hundred million dollars in loans that he has outstanding, they give him $183 million package and essentially purchased $1 billion of his stock, so he leaves WeWork as a billionaire. FARRELL: Yeah, it was — I mean, it was just an incredible thing. And I mean, then he got this pay package that they agreed to as part of the bailout. I mean, WeWork, once the IPO was called off, was on the verge of bankruptcy. They were going to run out of money in a couple of months so they had to do this very quickly. They were laid off thousands upon thousands of people. But basically, as part of the negotiations to get Adam Neumann to give up his super voting shares, these potent shares that would have let him continue to keep control of the company to do that, they struck this pay package. And I mean, it’s kind of interesting when we talk about the power founders right now that it wasn’t a wakeup call for Silicon Valley to be more wary of giving this power to founders, like when you saw the price tag that Adam Neumann extracted the cost of pushing out a founder who’s kind of a disastrous founder at some point. RITHOLTZ: Yeah. I — I remember reading that and thinking Son played it terribly. He could’ve said, “Hey, listen, I got $100 billion worth of other investments. If I take a $10 billion write-down, it’ll hurt, but I still have plenty of other money. If this goes belly up, you’re broke, you’re a disaster except I’ll give you $50 million or else you’re just impoverished. Good luck finding the lawsuits for the rest of your life.” That would have been the play, but he didn’t — I guess, it was the other second fund he didn’t want to put at risk. Why — why didn’t he hardball Neumann because I thought Son had all the leverage in that negotiation? FARRELL: That was one of the — like the enduring mysteries, I think, of this whole story because all the things you said are right, plus Adam had taken out so much money in terms. He had so much lent against his stock at $47 billion. I mean … RITHOLTZ: Right. FARRELL: … J.P. Morgan, UBS, Credit Suisse, they have lent him hundreds of millions of dollars, and he would have gotten to default. He like didn’t necessarily have the liquidity to pay back everything … RITHOLTZ: Right. FARRELL: … he had borrowed. So, it was — I mean, it’s kind of amazing in terms of his negotiating skills that Masa and SoftBank. It was led by Marcelo Claure who’s now the WeWork Executive Chairman. They blinked first. RITHOLTZ: Right. FARRELL: They gave Adam a lot. And I totally agree with you, one of the things I’ve heard it was just like the interest of time. They just wanted it done $10 billion or whatever. It doesn’t mean that much. They want to just keep on moving, keep on … RITHOLTZ: Right. FARRELL: … spending, not distract too much and just get this done, but it’s crazy. I mean, the … RITHOLTZ: So … FARRELL: … the time value of money … RITHOLTZ: … could be the greatest golden parachute in the history of corporate America. I mean, I — I’m hard pressed to think of anybody who, on the way out of a — a failing company, and it was a failing company at that moment, squeeze more money out of — out of their board. FARRELL: And just to say, I mean, Andrew Ross Sorkin at — in this first big interview with Adam that he gave was — I mean, Adam defended it in different ways. I mean, Andrew very much pushed him on like why that was okay and … RITHOLTZ: Very aggressively. FARRELL: Yeah. RITHOLTZ: That was early November. And he was sort of contrite and, you know, a little shifty, but for the most part surprisingly transparent. I was — when I was prepping for this, I watched this and, you know, you could see how he constructs that, you know, reality distortion field. But there was definitely more humility than we have seen previously. I don’t want to say humble, but just closer on that spectrum. Clearly, he wants to have a future in — in business, and he needs to offer a few mea culpas of his own. FARRELL: It does feel like this is the first step on the come back toward … RITHOLTZ: Yeah. FARRELL: … Adam Neumann. RITHOLTZ: I think that’s going to be a pretty big uphill battle. That’s going to be quite the Kilimanjaro to — to — to mount given what a debacle … FARRELL: The interesting thing just so in terms of his next step is I — I agree with you, there’s an uphill battle in terms of maybe getting people to — to give him money, but he now has a lot of money and from … RITHOLTZ: Family office, yeah. FARRELL: Exactly. Anecdotally, it sounds like a lot of people are very happy to take his money. So, to begin, that’s, you know, he’s seeding a lot of things that you — who knows where they’re going to go. RITHOLTZ: Interesting. So, I only have you for a limited amount of time. Let me jump to our favorite questions we ask all of our guests starting with, you spend a lot of time researching and writing during the lockdown. Did you have any time to stream anything on Netflix or Amazon Prime? FARRELL: There — I mean, there’s still a lot of like downtime. I — I probably watched not much. You know, there — there was downtime, and I did have a few shows that were … RITHOLTZ: Give us one or two favorites. FARRELL: … Little Fires Everywhere. I really liked Never Have I Ever. RITHOLTZ: I just started watching the last week, it’s quite charming. FARRELL: Yeah, it’s really good. RITHOLTZ: Anything Mindy Kaling does is quite amusing. FARRELL: She is amazing. Schitt’s Creek, we got through the whole — that was with my favorite pandemic. RITHOLTZ: So, the — the funny thing about that is the first episode, too, were like – it’s like — it’s like succession. You don’t like any of these people. The difference being in Schitt’s Creek, you quickly start to warm up to them and they start to reveal their own path to rehabilitation of — of themselves. FARRELL: It just gets better like ever — and then it’s so devastating at the end. RITHOLTZ: So, it was really great, right? That – that was one of my favorites. Let’s talk about your mentors, who helped shape your career as a business journalist. FARRELL: I guess, my earliest mentor as a journalist, in general, was in college, I’d always thought about journalism, and I got an internship with then, I think, a septuagenarian journalist. He — his name was Gabe Pressman. I grew up in New York. He was an NBC … RITHOLTZ: Sure. FARRELL: … journalist. This is sort of the political head honcho of local journalism. I worked for him for a summer. He was in his, I think, late 70s. And he was just the most energetic, passionate journalist I’ve ever met. He was still like chasing after mayors, grilling them. It was — with the Senate race it was Hillary in the Senate race. And it was like the most fun summer I’ve ever had and seeing his energy. And — and he — he passed away a few years ago, but literally, he started blogging into his 90s. And he would joke. He would say, “You know, my wife really wants me to like take a step back and work and teach at Columbia Journalism School,” where he had gone. And he was like, “I’m just not ready like, at some point, like scale back, and he never really did. So, he — I would say he was my first mentor. Just seeing like that, it is the most fun job in the world. He just was seeing that day in and day out. RITHOLTZ: Let’s talk about books. What are some of your favorites and — and what are you reading right now? FARRELL: Sure. I’ll start, you know, I always wish I read more fiction, but it’s like I always get pulled in, especially the business, genre. RITHOLTZ: Sure. FARRELL: So right at this minute, I’m reading “Trillions” by Robbin Wigglesworth. It’s really good. It’s about like index funds, sort of I’m learning a lot from it, the rise of Vanguard. RITHOLTZ: He was my guest last week just so you know … FARRELL: Oh, awesome. RITHOLTZ: … or two weeks ago. FARRELL: I’m midway through, but I’m, yeah, learning … RITHOLTZ: Really interesting. FARRELL: … a ton from it. I just read Anderson Cooper’s book about the Vanderbilts. It’s — I thought it was really great and it’s so interesting. You know, he talks — it starts like the Gilded Age. And you just see so many like eerie and kind of parallels between our age right now and just like the level of like wealth creation and what it leads to. So, I really enjoyed that. I read — this is a little bit dated, but “Say Nothing” by Patrick Radden Keefe. It’s about the troubles in Northern Ireland. It is — I mean, it’s — it’s very sad, but I — and it’s pretty long, and I just could not put it down. It’s … RITHOLTZ: Really? FARRELL: … so great. Yeah, I can’t recommend that one highly enough. RITHOLTZ: Quite, quite interesting. What sort of advice would you give to a recent college grad who was interested in a career in either journalism or — or business? FARRELL: In terms of journalism, I would just say jump in. I mean, it’s such a — as opposed to business, I felt like when I graduated from college, you know, so many people had jobs that they were going to make, you know, a decent amount of money. And with the journalism, you just have to find your way in and a lot of its internships. And it just — the path is hard. There’s no straight line. So, I would just say for journalism, it really helps to just jump into the first job you can get. Work really hard in it. And you just always have to keep — there’s no straight line, but jump and learn from it, meet people, find your mentors everywhere you go, and just keep going. You learn so much on the job. I went to Journalism School at Columbia. It was a super fun year, but it’s like within two days of working as a journalist, you just learn so much you can never learn in school. RITHOLTZ: And our final question, what do you know about the world of IPOs, capital market, business journalism today that you didn’t know 15, 20 years ago when you were first starting out? FARRELL: Okay. What I think have learned and probably the most in writing this book is you think people are rational players, and you think that titans of business are supposed to behave in sort of a rational way, and that these, you know, these checkmarks, these — like a T. Rowe Price or something or Fidelity that they’re going to do a certain amount of work looking at things. And I think the level of irrationality in business of just relationships of people, sort of not necessarily making rational decisions and just going with their gut and going with the people they like, I think, are cool like that that overrides a lot of things. I think it’s just so much less rational than you think it would be. And sometimes the things that are on their face seem really crazy and insane, maybe are. RITHOLTZ: Quite, quite fascinating. We have been speaking with Maureen Farrell. She is the co-author of “The Cult of We: WeWork, Adam Neumann, and the Great Startup Delusion.” If you enjoyed this conversation, well, be sure to check out any of our previous 400 interviews. You can find those at iTunes, Spotify, wherever your podcasts from. We love your comments, feedback, and suggestions. Write to us at mibpodcast@bloomberg.net. Follow me on Twitter @ritholtz. You can sign up for my daily reads at ritholtz.com. I would be remiss if I did not thank the team that helps put together these conversations each week. Charlie Vollmer is my Audio Engineer. Atika Valbrun is our Project Manager. Michael Batnick is my Director of Research. Paris Wald is my Producer. I’m Barry Ritholtz. You’ve been listening to Masters in Business on Bloomberg Radio.   ~~~   The post Transcript: Maureen Farrell appeared first on The Big Picture......»»

Category: blogSource: TheBigPictureDec 15th, 2021

Flaviar"s online spirits club helped me appreciate rum and mezcal more — it"s expensive at $300, but it"s a fun way to try new and rare liquors

Flaviar provides a fun, accessible way to get into top-notch whiskey, vodka, tequila, and more via its subscription-based tasting boxes. Prices are accurate at the time of publication.When you buy through our links, Insider may earn an affiliate commission. Learn more.I tested Flaviar's Tasting Box, which contains one full-size bottle and a few sample vials of a variety of spirits.Connie Chen/Business Insider Flaviar is an online spirits club for people who want to explore whiskey, vodka, tequila, and more.  Membership ($349/year or $109/quarter) includes a Tasting Box of samples and a full-sized bottle. Members can also access Flaviar's reviews, articles, and rare collections.  See also: ReserveBar luxury wine and spirits review and 8 places to buy alcohol online now and get it delivered right to your door This content is intended for readers 21+. Please drink responsibly. If you or anyone you know is dealing with alcohol abuse, get help. The Substance Abuse and Mental Health Services Administration's National Helpline at 1-800-662-HELP (4357) provides a free, confidential, 24/7, treatment referral, and information service.Flaviar Annual Subscription$349.00 FROM FLAVIARThe world of fine and niche spirits can be overwhelming, especially if you're new to the scene. But if you're interested in trying small-batch whiskeys, vodkas, tequilas, and more, personalized spirits subscription service Flaviar is an excellent place to start.In addition to providing quality options (including rare bottles) at great prices, Flaviar also serves as an online community for fellow fans to get together and talk about everything spirits-related. What is Flaviar?An annual membership billed once a year is $349, while a quarterly membership is $109 and billed every three months. As a member, you can choose one tasting box and one full-size bottle every three months, plus you'll receive access to distillery and bottle profiles, member reviews, free distillery tours, and exclusive events. There's also a Digital Home Bar, where you can revisit all the bottles you own and receive personalized recommendations based on your tastes and preferences. The Tasting Box contains 1.5-ounce sample vials of a variety of spirits and there's usually a different theme every three months, like "Mezcalistas" or "The Cognac Track." Meanwhile, the full-size bottles come from popular brands like Johnnie Walker and Glenlivet, as well as smaller distilleries like Journeyman. Flaviar carries more than 20,000 different spirits, and they're all vetted by industry professionals and a "resident flavor magician." Review of FlaviarThe Tasting Box was packaged well and everything arrived safely.Connie Chen/Business InsiderI picked out my Tasting Box and bottle, which arrived safely and securely. I didn't want to get just one type of spirit, so I opted for the Flaviar Awards 2020 Tasting Box, a "best of" collection as voted on by the Flaviar community. It contained English whiskey, Scotch whisky, brandy, rum, and mezcal. For my bottle, I went for a Glenrothes 12-Year-Old scotch. The Tasting Box I chose is no longer available, but there are a lot of other boxes themed around whiskey, gin, cognac, and more.The site was laid out well, making it easy to browse all the different spirits and read through "specs," tasting notes, and reviews. I loved the design of the at-home tasting experience, too. The vials sit inside a sturdy container and even come with coasters that include tasting notes and "specs" of the spirits.Connie Chen/Business InsiderIt was packaged nicely (Flaviar even included a coaster), and it encouraged me to actually sit down and take my time with each of the samples. The box included small cards with tasting notes (which the brand calls "Flavor Spirals"), and I had to try and match each one to an unlabeled sample.I don't think I'm a spirits connoisseur just yet, but I thought the "Flavor Spirals" were spot-on and not too difficult to pair up with the corresponding samples. Still, it was fun to go into the process blindly and test my abilities to recognize flavors like the banana and honeycomb in the Larga Vida rum or the peach and blackberry in the Copper & Kings brandy. Since there was no packaging, I found myself focusing more on how each sample smelled and the sequence of different flavors that hit my tongue. Though I did this by myself, I could see the tasting process being an excellent social activity to do with a friend or family member. Ideally, the Tasting Box would help you further refine your tastes, as you explore and discover your likes and dislikes. Personally, I know I'm already a fan of rum and mezcal, but I'm hoping to become more knowledgeable about those spirits so I don't feel as lost the next time I'm shopping for myself or ordering at a bar.Surprisingly, I didn't love the mezcal in the Tasting Box and actually found myself enjoying the other types of spirits more. With so many to choose from, it seemed like a shame not to take advantage of the variety. In the end, I think I'd need another round with the Tasting Box to further hone my preferences and then decide what full-size bottle to order. Other perks of a Flaviar membershipOnce you've enjoyed your spirits, the experience isn't over. You can also spend time reading member reviews, articles about different spirits, cocktail recipes, and interviews with industry experts. Some of the member reviews are particularly intensive, which will help you make a decision when you're stuck. You can also buy individual bottles from the shop. Compared to other online stores, Flaviar's bottles are generally sold at retail price or a little cheaper. In some cases, like with this $400 Orphan Barrel Bourbon, Flaviar can be around $100 less expensive than competitors. Once a month, you'll receive free shipping credits, which can be used on one order of any size. Meanwhile, for people who love rare and exclusive varieties, there's The Vault, which is open once a month and allows access to a private collection of spirits. Finally, membership usually includes free distillery tours and events, but due to the pandemic, these are still on hold right now. In the meantime, Flaviar hosts online shows on its Instagram, where hosts interview bartenders, hold live tastings with a variety of guests, and put on virtual pub quizzes. The bottom line Flaviar is an accessible starting point and community for people who want to expand their knowledge of spirits, and it offers no shortage of member-exclusive features to dive into and explore.Since it holds a large stock of spirits and resources all in one place, you won't need to juggle various forums, shops, and articles — instead, you'll find everything you need once you log in. For $300 a year, it's a bit pricey, but compared to the costs of doing all the work yourself and buying from more expensive competitors, Flaviar is definitely worth it. Flaviar Annual Subscription$349.00 FROM FLAVIARRead the original article on Business Insider.....»»

Category: worldSource: nytDec 10th, 2021

29 irresistible food gifts in 2021, including maple syrup, pickle subscriptions, and cheese plates

The gift of food is something that everyone can appreciate. Here are 29 of the best food gifts for meat lovers, sweet tooths, and everyone in between. Prices are accurate at the time of publication.When you buy through our links, Insider may earn an affiliate commission. Learn more.Baked by Melissa/Instagram Few things make people's eyes light up like food — that's why food is always a great gift option for anyone in your life.  We found 29 delicious food gifts that range from small sweets and snacks to filling gourmet meals.  Still looking for a gift? Check out our list of the All-Time Best products we've ever tested. Food is one of those universal gifts that work for everyone in your life and at any time of the year. Whether it's to celebrate a momentous occasion like a graduation or show someone — a mother, father, healthcare worker — that you appreciate them, you can't go wrong with a food gift. There are so many different types of food gifts you can give: sweets, snacks, gourmet ingredients, full meals, and more. If you're having trouble finding a good gift, but know your recipient would love anything they can consume, we have you covered with these 28 thoughtful, high-quality food gifts. Here are 29 food gifts anyone will appreciate: Zero-proof cocktail kitsLily AligRaising the Bar Zero-Proof Cocktail Subscription, available at Raising the Bar, from $48 a monthEach Raising the Bar box is like a crash course in mixology, teaching you about flavors and techniques that you could apply to any cocktail. The box includes your zero-proof cocktail materials as well as extras like cocktail picks and pink peppercorns.  The subscription is a little pricey, but the experience of such a cohesive and jam-packed kit is worth it. As someone who isn't a big alcohol drinker, I loved being able to feel like a bartender without using liquor.Premium maple syrupAmazonRunamok Maple Organic Vermont Maple Syrup Barrel-Aged and Infused Collection, available at Amazon, $30.95Vermont maple syrup calls to mind warmth and sweetness. Your giftee can dress up their pancakes, drinks, or baking with one of these four classic and unique flavors: pecan wood smoked, bourbon barrel-aged, vanilla cinnamon, and makrut lime leaf infused syrups. Seasonal organic chocolateLily Alig/InsiderTheo Chocolates Holiday Variety Pack, available at Amazon, $24This seasonal collection of chocolate bars is perfect for someone who likes gingerbread as much as peppermint bark. Theo Chocolate bars are creamy and have a full cocoa flavor that isn't overshadowed by mix-ins. We loved the decorate wrapping and selection of flavors.A cupcake filled with gummy bearsDylan's Candy BarGummy Bears in a Cupcake, available at Dylan's Candy Bar, $28Stepping into Dylan's Candy Bar always reawakens our inner child. Nothing says sweet, bad-for-your-teeth fun like a bulk pack of gummy bears in 12 different flavors. Premium caviarWulf's FishWulf's American Bowfin Caviar, available at Wulf's Fish, $29Caviar is a symbol of luxury, but Wulf's Fish makes it surprisingly attainable. From one of our favorite online seafood purveyors, you can get two ounces of earthy roe for $30.Fundamental spices for flavorsome cookingBurlap and BarrelFundamentals Collection, available at Burlap and Barrel, from $56.99The right spices accentuate flavors and uplift flat dishes, so it's worth it to splurge on the good ones. Burlap & Barrel sustainably sources its spices and works directly with the farmers. We used Burlap & Barrel black peppercorns to test the best pepper mills and were amazed by the freshness and complexity of the spice's flavor. A pack of non-alcoholic sparkling drinksTOSTTÖST 25.4 fl oz. Sparkling Beverage, 3-pack, available at Amazon, $39.99Made with white tea, cranberry, and ginger, TÖST is the perfect drink for sober party-goers. It has the look of a bottle of bubbly, but without the alcohol content. We found it refreshing and very sweet, a great non-alcoholic option for a celebration. A savory and sweet gift basketHarry & DavidClassic Favorites Gift Basket, available at Harry & David, $59.99Harry & David gift baskets are crowd pleasers, thanks to their variety of gourmet treats. This basket is a true Harry & David classic, with pears, Moose Munch, cheddar, crackers, relish, chocolate-covered cherries, and chocolate truffles. You can even add a bottle of Harry & David wine to this gift. Gourmet milk and dark chocolate caramelsFran's ChocolatesGray & Smoked Salt Caramels 20-Piece Box, available at Fran's Chocolates, $40Fran's Chocolates is one of the best online chocolate brands, and this beautiful box contains 10 dark chocolate caramels with a sprinkle of gray sea salt and 10 milk chocolate caramels with smoked sea salt. You can choose from three box and ribbon color combinations and anywhere from 10 to 160 pieces of delicious caramel. Treats from small-batch, diverse producersLily Alig/InsiderThe Original Box, available at Gratefull Box, $97For the foodie who likes to give back, the Gratefull Box is a delicious and meaningful gift box. The reusable wooden box contains six items all from independent producers: masala chai concentrate, bourbon barrel honey, vegan kimchi paste, rhubarb lavender jam, cinnamon maca almond butter, and truffle balsamic vinegar. Plus, each box sold results in a five-pound bag of dog food donated to a shelter in need. A mix of rich cake truffles and creatively flavored cookiesMilk BarThe Little Somethings Box, available at Milk Bar, $70The truffles and cookies are a couple of the best things you can get from New York City institution Milk Bar. There's no shortage of variety in this gift: your lucky recipient will get six different cookies (like the famous Compost Cookie), 12 birthday cake truffles, and 12 chocolate birthday cake truffles. Read our review of Milk Bar here.Everything they need to make buttery lobster rollsGoldbellyMcLoons Lobster Shack Maine Lobster Roll Kit - 4 Pack, available at Goldbelly, $129Not included — chips, pickles, or a gorgeous coastal view. Still, if your recipient loves lobster and lighthouse drives, they'll be grateful for this gift. Read our review of Goldbelly here.A subscription that delivers responsibly sourced meat, poultry, and seafoodCrowd CowFarmers Market Subscription, available at Crowd Cow, from $22.46Crowd Cow sources its meat, poultry, and seafood directly from independent farms with ethical and environmentally friendly practices or from the wild. In addition, the service provides you with information about where your meat came from and how the animal was treated before you cook it. Send someone an e-gift card to go towards a subscription which they can pause, change the frequency of, or cancel at any time (delivered on an automatic basis) or build a custom box for a one-time delivery.  Read our review of Crowd Cow here.An alcohol subscription that supports indie wine makersJada Wong/InsiderHoliday Joy 11-Pack, available at Nakedwines.com, $113.99Nakedwines.com supports wine-enthusiasts' desire to bring you new blends and brands. Once a wine is approved, they can sell their wine through the website at shockingly affordable prices considering the quality. Your favorite wine snob can enjoy trendy wine from small winemakers around the country, even from the most prestigious soils of the Napa Valley.Read our review of NakedWines.com here.A breakfast spread they'll be excited to wake up forGoldbellyRuss & Daughters New York Nostalgia, available at Goldbelly, $225They can customize their breakfast with a variety of smoked and pickled fish, cream cheese, and assorted bagels. Cap it all off with a sweet treat of marble halvah or rugelach. An international cheese tourMurray's CheeseCheeses of the World Sampler, available at Murray's Cheese, $79They'll never get bored of this 6-pound set that features French, Swiss, and Spanish cheeses from local farms and Murray's own cheese caves. It should serve five to seven people, but we're sure it varies depending on how much your recipient loves cheese. A charcuterie platter that includes duck, pork, and chickenD'ArtagnanCharcuterie Gift Box for 4, available at D'Artagnan, $52.99Save this delicious sampler for wine nights and summery picnics. You can trust this 35-year-old farm-to-table purveyor of sustainable, free-range meats to deliver on flavor and quality. Hot sauces ranging in heat level from "mellow" to "evil"Food52Fuego Box Tame to Insane Hot Sauce Box, available at Food52, $135Gift this 11-bottle box of fiery sauces to the friend who goes to the Hot Sauce Expo every year and always has a new bottle of hot sauce in their grocery cart. They'll probably want to keep a glass (or jug) of milk nearby. Colorful, bite-sized cupcakesBaked by Melissa/InstagramClassic 25-Pack Cupcake Gift Box, available at Baked by Melissa, $43There's no rule saying they can only eat one. And with 12 different flavors including PB&J, brownie batter, and chocolate chip banana, they won't want to. A pickle subscriptionMouthPickle of the Month Club Subscription, available at Mouth, $60A crunchy pickle makes nearly anything taste better, and this subscription will ensure your recipient always has one to accompany a sandwich or a salad. A fine cut of meat delivered right to their doorOmaha SteaksFilet Mignon Dinner, available at Omaha Steaks, $100.98Omaha Steaks delivers vacuum-sealed premium meats with precise, easy-to-follow cooking instructions and seasoning. Meat lovers and novices alike can appreciate the ease and quality of a fresh filet delivered to their front steps.Read our review of Omaha Steaks here.A crate full of sweet and savory snacksMouthSnack University Box, available at Mouth, $128While marketed as a care package for students and long-distance loved ones, the bundle of snacks — which includes fancy coffee, popcorn, cookies, and jerky — is great for anyone who's always looking for something to eat between meals. Classic cocktails in gummy formSmith & Sinclair/InstagramThe Night in Box of Alcoholic Cocktail Gummies, available at Smith & Sinclair, $25We love making our own cocktails, but we also don't mind creative twists like Smith & Sinclair's cocktail gummies. They're a fun, mess-free way to enjoy happy hour. A meal kit subscriptionHome ChefGift Card, available at Home Chef, from $25For budding home cooks, Home Chef offers a weekly menu full of easy-to-make recipes, along with pre-portioned ingredients and straightforward instructions. Every meal we've made from the service has been delicious and filling. A gift card for $65 is good for three two-serving meals. Authentic Japanese snacksBokksu/InstagramClassic Box, available at Bokksu, $134.85Every month feels like an adventure when they have a subscription to Bokksu, which delivers Japanese snacks, candies, and a tea pairing they can't find in most stores. The cool snacks also come with a culture guide that explains each snack's origins and flavors. Read our review of Bokksu here.Toppings to up their breakfast gameHarry & DavidPremium Preserves and Butters Box, available at Harry & David, $39.99It'll be hard to choose which topping — strawberry seedless preserves, blood orange marmalade, tart cherry butter, or lemon curd — to spread on their toast every morning. They also go well with ice cream, yogurt, and other desserts. A monthly delivery of cool international snacksUniversal YumsYum Yum Gift Box, available at Universal Yums, from $25/monthIt's not always possible to travel, but Universal Yums' boxes let your recipient do so through food. Past boxes have highlighted the sweet and savory snacks of Scandinavia, Brazil, France, and Indonesia. Read our review of Universal Yums here. Some of the best ice cream in the countryHumphry Slocombe/InstagramHumphry Slocombe Chose Your Own - 6 Pints, available at Goldbelly, $99Bay Area favorite Humphry Slocombe serves up interesting flavors like Matchadoodle, Toasted Sesame and Chocolate, and perennial favorite Secret Breakfast (bourbon ice cream with cornflake cookies). Your recipient will be thankful you sent over six whole pints instead of just one.A trio of truffle oilAmazonTruffleHunter Truffle Oil Selection Gift Set, available at Amazon, $39.95We all have that friend who always beelines towards the truffle risotto or truffle fries on the menu. This gift set of black, white, and English truffle oils is for them. The oils come in tiny bottles too, perfect for carrying on the go to enhance any dish. Read the original article on Business Insider.....»»

Category: topSource: businessinsiderDec 9th, 2021

Blain: The Problem With Money Is...

Blain: The Problem With Money Is... Authored by Bill Blain via MorningPorridge.com, “Money is better than poverty, if only for financial reasons.” The problem with money is there is just too much of it, and all the wrong people have got it. No particular theme to the porridge this morning. Just some observations on what looks a very confusing market. I’m not in the UK at present, but if I was I’d be shaking my head in horror at the latest noises out of Downing Street. As an Irish chum put it: “If Boris was football team manager, he’d be gone by the weekend,” but this is Politics. Despite all the indications Omicron will not decimate the population, and vaccinations mean we’re most likely to survive, there is nothing like a bit of gold old fashioned panic. It sounds like lockdown is just around the corner to show just how much the Tories care. (Or is it because a furious Chief Medical Officer Chris Whitty read the riot act to them?) Working from Home has very clear economic implications – and kills the December party season. Consequences, consequences. More and more the UK feels like a struggling health service with a inefficient nation attached. It’s not a good look. The stalling UK outlook and the political shenanigans explain why Sterling is looking a tad Turkish this morning. Meanwhile global markets take it all in their stride – convinced Omicron is a distraction and central banks will keep the liquidity juice flowing. What’s the problem? Higher, higher, higher scream the pundits! But it’s all noise. Look at the detail – the flows are all into the story stocks, the big tech, the big names, or the latest stocks picked for their Covid resilience, or those that look best placed to benefit from a turnaround. Markets feel frothy and unconvinced – rushing like the ball in a pinball machine between the buffers looking for the high score. The economic reality is markets are no longer functioning to efficiently distribute capital. Headlines about the collapse of small stocks, funding issues for developing nations and the lack of available capital for early stage alternative energy firms sit uneasy with future growth. I suspect the problem with everything, and particularly markets, is there is just far too much money around, and all the wrong people have got it… They are pushing that too-much-money in all the wrong directions. It’s very difficult to be coldly analytical about company fundamentals or the future economic outlook and direction when it would appear the world has lost sight of any value metrics. This morning is no exception. Fantabulous valuations based on an utter absence of reality has changed finance and way economic decisions are made. In the FT I read about how the computing power now expended on bitcoin mining has risen to a record high, with more and more expensive tech dedicated to digging out digital gold to sell to digital marks. China has banned bitcoin mining, and now the miners have moved elsewhere and brought in more powerful machines. The carbon footprint is huge – but hey-ho, that apparently doesn’t matter because it doesn’t. (Yes it does – whatever US miners say about how they’ve built a renewable energy site in Texas to accommodate more green miners. The bottom line is buttcon mining is an obscene waste of energy.) A chum sent me a story from The Byte: Someone paid $650,000 for a nonexistent yacht in the metaverse. The “yacht” is called The Metaflower Super Mega Yacht. It was “built” by a firm called Republic Realm. The buyer bought the digital asset with a digital currency. An imaginary thing buys an imaginary thing… Wow. The porridge readership will be split on this one: A majority of readers will shake their head in disbelief and wonder what madness drives someone to part with the price of a decent home for what is, perhaps, the fugliest yacht ever designed. (Seriously, it’s horrible. Boxy, sharp corners, and straight lines. A 10-year old playing Minecraft, or opening CAD for the first time would have done better.) A smaller number of readers will delve deeper and try to figure out the potential value of the digital asset in Ethereum will perform. Maybe it will be used in a computer game to hold virtual boat parties and earn returns that way? A very small number will twig it. They will be developing a bigger Metaflower II and looking for the greater fool to sell it to. It all sounds a bit bogus to me. The yacht was sold on The Sandbox, which is described as an “also-ran Metaverse platform” in the story. I am sure someone can tell me what it’s all about. Users of the Sandbox metaverse platform can also buy jet skis, speedboats, private islands and all the other paraphernalia a successful Mexican cartel boss requires in the real world.  They all look horrendous – worse than SIMs 20 years ago.. If I want to live out my days in opulence in the Metaverse, I’d like something a little more real please. That is developing… Apparently. As more and more people experience life in a/the metaverse they’ll want to digitally clothe their avatars, have them driving expensive digital cars, and wear expensive digital watches. I bet the most lucrative part of the metaverse will end up being digital sex and porn. Or, maybe I might care to start a digital property empire in Decentraland..? Someone just paid $2.4 million for a 6000 square foot plot of digital land in the Metaverse called Decentreland… whatever it is.. Land? Space? Venue? Our chums Republic Realm (the Metaflower 1 yacht makers) have bought 260 plots to build a virtual shopping mall where buyers can purchase digital wearables. Apparently fashion chains are queuing up to open virtual shops. Sotheby’s has built a digital auction house to auction NFTs! The great attraction of real land, as opposed to digital land, is they really aren’t making much more of it. (Except here in Dubai, where the most luxury hotels are the ones furthest out on the Palm, but that’s a whole different story for another day… !) More to the point a real Aston Martin is expensive because it’s difficult to make and they are a scarce commodity. A digital Aston costs exactly the same to mock up as a Lada. I really can’t get my head around digital possessions except in terms of what they might be worth when I wish to sell. I learnt an important lesson earlier this year when my mother passed away. Her house was full of beautiful things she and Dad collected over their life together. We’ve now emptied the house – and despite all the treasured memories, none of us has the space for it all. Most of it has gone to charity. Treasured and beautiful, but without her they are just things. Appreciate today what you have and treasure… I have a fondness for early 20th Century Scottish Art. I’ve bought paintings I’d fallen in love with. My wife wasn’t so keen. I’ve tried to sell them, and been told.. “ah, these just aren’t fashionable anymore, your mother’s generation bought them..” I bought them for love rather than market value. I wonder who will cherish them when I’ve gone..? I suspect one day a great grandchild will find a Mackintosh-Patrick up in the loft and discover its worth billions…. In contrast, will they bother searching my obsolete hard-drives to see if there might be some NFTs stashed away? Doubt it. Tyler Durden Thu, 12/09/2021 - 09:40.....»»

Category: personnelSource: nytDec 9th, 2021

NFT Art Collectors Are Playing a Risky Game—And Winning

In Miami, the next generation of art collection showed its colors Behind the high white walls of a nondescript single-story building in Miami’s Wynwood neighborhood, past the velvet ropes and ticket-checkers, and through a hallway filled with disorienting billows of white smoke lies Aku World, the alternate universe of Aku, a young Black astronaut. The blank walls of one room were covered with moving projections of this cartoon extraterrestrial universe. At the center, a giant space helmet you could walk inside to view videos. In other rooms: traditional art from the likes of Jean-Michel Basquiat and young artists Jade Yasmeen and Floyd Strickland; a “merch” room with virtual 3D displays of branded backpacks and hoodies; and a futuristic sanctum with a massive, ovoid version of a TSA body scanner, used for 4D body-mapping. Visitors could develop and “mint” their own personalized avatars for the Aku World metaverse. A line of patrons snaked out the hallway. [time-brightcove not-tgx=”true”] One of those people on this balmy Thursday evening of Art Basel Miami was Cooper Turley. Wearing designer sneakers, a black turtleneck and a diamond chain, Turley towered over his fellow Aku fans in line, a collection of diverse young people who had managed to snag one of the exclusive tickets to the pop-up. “I’ve been following the story for six months at this point,” Turley says proudly. But Turley, 26, was more than just another Aku fan. An investor in the project, Turley is also an NFT collector and a Twitter personality known for sharing upbeat takes on the future of the emerging world of web3. Originally an avid Pokemon collector—the type of teen who spent hours searching out rare cards on eBay—Turley turned a college music business degree into a career as an angel investor and general crypto expert after becoming intrigued by the concept of so-called “smart” contracts for music, which could more effectively apportion out revenue to the many stakeholders involved in a track. These days, he holds somewhere around 400 to 500 unique NFTs, ranging from an original Crypto Kitty (his first-ever NFT purchase) to a one-of-one from Fvckrender that he bought for a hefty 10ETH (currently about $44,000). “If I were trying to get [my collection] appraised today? It would be, like, a couple million dollars,” he says, doing some quick mental math. How NFT art collecting works Just like there are famous physical world art collectors—Peggy Guggenheim, J. Paul Getty, the Broads—Turley has joined the ranks of high-end NFT art collectors, as non-fungible tokens became the talk of the crypto and art worlds this year. (NFT auction platform OpenSea has tracked over $10 billion worth of sales since it launched in 2017. The buzz peaked last spring with the much-ballyhooed $69 million auction price for a one-of-one Beeple art work.) While an NFT can be anything, the first and most visible use-case so far has been for digital art. Sometimes that means a moving image. Or an audio-visual clip. Or a “profile picture project” (PFP) like CryptoPunks or Bored Ape Yacht Club, drawings that are variations on a theme within a particular universe. (Aku World started out as a collection of Aku NFTs.) Or a physical sculpture with an NFT certificate of ownership. More and more, it also can mean tokens that provide access to exclusive events or content—also a perk, in this instance, of Aku NFT ownership. Read More: Teen Artists Are Making Millions on NFTs. How Are They Doing It? For Turley, being a collector (and investor and advisor) in this space is both a career and, it seems, a calling. His social and professional lives are deeply intertwined. In Miami, his days were a mix of attending events like Aku World and carrying on into near-dawn club adventures with fellow collectors and artists he’s befriended. “There’s one part of my collecting that’s all about patronage,” he says. “It’s my friends getting involved in the space, so I am buying their work to simply say thank you for believing in this, thank you for taking a chance and putting your art into this ecosystem.” The other part is speculation. “There’s a science to knowing which entities are going to go up and being able to flip those,” he says. After all, he’s been able to build a multimillion dollar collection off his early crypto investments and willingness to play that game. The value of community Turley’s approach—recognizing both the power of patronage and the potential of speculation—is one echoed by most collectors in these early, volatile days of the NFT market. Jake Rogers, 38, also found his professional sweet spot as a collector and speculator. Crypto—and NFT art collecting—changed his life; after going through a divorce and diving into crypto self-education via the audio hangout app Clubhouse during the pandemic, Rogers left his role as the program director of a homeless shelter in Atlanta. He’s now a full-time NFT investor based in Miami. (He’s also building out a local cafe for “cannabis, coffee, crypto and tacos,” he says happily.) But you wouldn’t know any of this from his unassuming appearance; he shows up at a low-key pool party on a residential street in downtown Miami in a faded tank top, shorts, and a Patagonia baseball cap covering his grey hair, swigging from a bottle of electric yellow Gatorade. Rogers is here to say hello to the Queens-based music artist and general hype man Artz (real name: Raymond Allende), founder of the artist collective Reject Dreams. Rogers invested in some of Artz’s audio-visual works (and NFTs), and they’re friends via Clubhouse. With boyish energy, he settles onto a couch by a dusty pool table to explain his philosophy of NFT investing. Rogers has 487 works when we talk, and wants to hit 500 by the end of the weekend, with a budget to burn of roughly $200,000. He had been dabbling in crypto since 2017, but made his first NFT purchase in spring 2020, with a reasonably-priced piece from “some brothers in Russia,” he remembers, who he discovered on Clubhouse. “I got in for the community. And then—” he pauses. After he had collected about 100 works he loved, including four Bored Apes, three of which he sold for a healthy profit, “then I got in for the money.” Read More: NFTs Are Shaking Up the Art World—But They Could Change So Much More Now he’s using what he calls “house money,” re-investing his wins. “The reality is, it’s insider trading,” he says wryly. But with a cause: he likes to support early-stage artists who need the money to live. That positive feedback loop, and the sense that he’s making a difference in someone’s life, “is like a drug.” “I came from the world of understanding my privilege and helping people that have nothing,” he says. He has a system now for deciding what’s a worthy project, based on the rarity of the pieces, his trust in the people behind the project, and whether it’s a safe bet or a risky one. Rogers knows it might look like he’s having a midlife crisis right now. But he says he’s never felt a stronger sense of purpose: to invest in the future, and be a part of supporting the paths of artists he believes in—like Artz—who wouldn’t otherwise get a chance. We say goodbye, and he jumps up, snaps a quick selfie with Artz, and heads out to the next art exhibition. “I didn’t even know what the guy looked like until a few weeks ago,” Artz says after Rogers leaves. But his early support has been meaningful in helping Artz raise his profile. Later in the weekend, Artz would perform with rapper Busta Rhymes. Is NFT art “real art”? To outsiders, the NFT art world can look like a joke, or a bunch of high rollers playing a computer game. For those inside it, it is a game—but one with real stakes. Nowhere was that more clear than at the NFTNow x Christie’s party in downtown Miami, hosted in a corporate venue transformed into an NFT art gallery and party spot. On the blacked-out walls, digital works by top-selling artists like Fvckrender, Chad Knight and Dave Krugman popped out of the darkness. The open bar seemed of less interest to most than the works themselves. Photo by Cindy Ord/Getty ImagesGuests view an NFT art piece by German artist Mario Klingemann at Art Basel Miami 2021. Turley circulated with other bigwigs in the scene: collectors like Kamiar Maleki, director of Volta Art Fairs and Colborn Bell, the tall, bearded head of the Museum of Crypto Art; artists and celebrities like Beeple, Fewocious, Jared Leto and Timbaland. The Christie’s co-sign gave this new generation an air of officiality. But at the main Art Basel fair in a cavernous event space on Miami Beach, Turley felt out of place; he admits he’s not a traditional art connoisseur. Most of the booths were hosted by galleries—and NFT artists tend to bypass gallery representation. (One booth by blockchain company Tezos was a hit, however, and 5,000 NFTs were minted there over the course of the week.) “I felt a little bit of a disconnect,” Turley says. “All the art on display was physically appealing, and it looked fantastic,” but he didn’t feel the sense of connection that he could find with NFTs. “One of the things that I like the most about NFTs is that you are not bidding on the art itself, you’re bidding on a relationship with the creator. We are in an early enough stage where that could happen. The reason that a lot of people are spending so much money on NFTs is because they really want to get connected to that artist on a personal level,” he says. Turley himself has advised artists and creators on their NFT entrances. Crypto winter is coming Of course, in an emerging, unregulated market, not all plays are wins. Collectors spoke blithely about getting “rugged” on certain NFT investments, about how easy it is for hackers to entice potential investors into fake projects, into scams that result in an empty crypto wallet before they can back out of the exchange. But more often than not, a loss just sparks the desire to try again; risk is the accepted name of the game. Back at Aku World, Turley was joined by artist Isabella Addison and fellow young collector Brett Shear. (Shear focuses on music NFT collecting.) After Turley minted his new Aku avatar, the trio—already tired after a few days of the Miami party circuit—grabbed dinner at a low-key gyro restaurant a few blocks away, then headed to an event hosted by digital music collective Poolsuite. For artists like Addison, the support of these collectors has helped buoy her to stardom. On Saturday night, she was out and about with a collector who goes by the name Seedphrase, who recently estimated his NFT collection’s value at around $12 million. At a party co-hosted by Playboy and Proof of Party, a web3-focused event series, the walls flashed with moving projections of models. Pop star Charli XCX was in the deejay booth. A few hours later, Addison would wake up to hand-paint a Bentley for an auction. She was moving into a new apartment in L.A. soon. The collectors all warned of an upcoming “crypto winter” of increased volatility, for which they’re preparing by diversifying their investments into things like metaverse properties and crypto-focused DAOs (decentralized autonomous organizations that invest as a collective). But for artists like Addison who are already reaping the rewards of their patronage, the season ahead looks bright......»»

Category: topSource: timeDec 9th, 2021

The Real Good Food Company Reports Third Quarter 2021 Financial Results

Record Net Sales of $23.0 Million, a 136% Increase Year-Over-Year Pro Forma Cash Balance of $44 Million and Credit Facility Capacity Expanded to $70 Million Company Provides Full Year 2021 and 2022 Outlook and Provides Long-Term Targets CHERRY HILL, N.J., Dec. 07, 2021 (GLOBE NEWSWIRE) -- The Real Good Food Company, Inc. (NASDAQ:RGF) ("Real Good Foods" or the "Company"), a health- and wellness-focused frozen food company, today reported financial results for its third quarter ended September 30, 2021. Third Quarter 2021 Highlights Net sales increased 136% to $23.0 million Gross margin increased 1,190 basis points to 10.2% Adjusted gross margin(1) increased 410 basis points to 17.1% (All comparisons above are to the third quarter of 2020.) "We are pleased with our successful IPO during the month of November and our strong third quarter results," said Bryan Freeman, Executive Chairman. "These results demonstrate the strength of the Real Good Foods brand and consumers' desire for high protein, lower carbohydrate foods. We are in the early stages of penetrating our total addressable market opportunity and are more aggressively working to achieve gross margins in line with our peers." Successful Initial Public Offering Subsequent to the third quarter end, on November 9, 2021, the Company closed its initial public offering ("IPO") in which it offered 5,333,333 shares of its Class A common stock at a price to the public of $12.00 per share for net proceeds of approximately $59.5 million, after deducting underwriting discounts and commissions. The Company primarily intends to use the net proceeds from the offering for working capital and other general corporate purposes, which may include debt paydown, research and development and marketing activities, general and administrative matters, and capital expenditures. Following the completion of the IPO, there was a total of 25,747,566 shares of common stock outstanding, comprised of 6,169,885 shares of Class A common stock and 19,577,681 shares of Class B common stock. Financial Results for the Quarter Ended September 30, 2021 Net sales increased 136% to $23.0 million compared to $9.7 million in the third quarter of 2020. The increase was primarily due to strong growth in sales volumes of the Company's core products (Entrees and Breakfast), driven by expansion in the club channel, and greater demand from existing retail customers. The Company expects sales in its retail channel to continue to accelerate and be driven by recent new customer wins, expanded distribution with existing customers, continued strong velocity growth in core products and new product innovation. Gross profit increased $2.5 million to $2.4 million, and was 10.2% of net sales, for the third quarter of 2021, compared to a gross profit loss of $0.2 million, and a negative 1.7% of net sales for the prior year period. The increase in gross profit and gross margin was primarily due to the absence of $1.4 million in one-time costs resulting from financial hardship of a co-manufacturer and inventory write-downs that occurred in the third quarter of 2020. The remaining $1.1 million increase in gross profit was primarily driven by an increase in net sales, including an increase in the percentage of the Company's products that were self-manufactured, partially offset by increases in labor and raw material costs. Adjusted gross profit(1) increased $2.7 million to $3.9 million, reflecting adjusted gross margin of 17.1% of net sales, compared to $1.3 million, or 13.0% of net sales, in the third quarter of 2020. The increase in adjusted gross profit and adjusted gross margin was primarily due to the increase in net sales, including in the amount of products sold that were self-manufactured, partially offset by increases in labor and raw material costs. Total operating expenses increased by 184% to $7.9 million, or 34.5% of net sales, compared to $2.8 million, or 28.7% of net sales, in the third quarter of 2020. The increase in operating expenses, both in absolute dollars and as a percentage of net sales, was primarily driven by increased investments in marketing, research and development, and selling and distribution expenses to support the growth of the business. Adjusted EBITDA(1) was a loss of $3.0 million compared to a loss of $1.3 million in the third quarter of 2020. The increased adjusted EBITDA loss was primarily driven by higher operating expenses partially offset by higher net sales and gross profit. The higher operating expenses include increased investments in marketing to support brand growth, higher selling costs to support sales growth, and increased personnel expenses related to the build out of the Company's operations, finance and leadership teams. Loss from operations increased by $2.6 million to $5.6 million compared to $3.0 million in the third quarter of 2020. The increase in loss from operations was primarily due to higher operating expenses. These higher operating expenses were partially offset by the $2.5 million increase in gross profit. Net loss increased by $7.6 million to $11.8 million compared to $4.2 million in the third quarter of 2020. The increase in net loss was primarily due to the higher operating expenses, as well as the impact of a change in fair value of convertible debt, which reflects a non-cash adjustment. Balance Sheet Highlights As of September 30, 2021, the Company had cash and cash equivalents of $1.7 million and total debt was $63.6 million, which included $41.1 million of principal amount of convertible notes that converted into shares of Class A common stock and Class B common stock in connection with the IPO. Pro forma cash balance and pro forma debt balance give effect to the net proceeds received from the IPO, the conversion of the convertible notes, the pay down of outstanding debt, pay down of certain contingent liabilities, as well as cash borrowings under a newly amended credit facility, as described below. After considering the effects of the foregoing, the Company's September 30, 2021 pro forma cash balance was $44.0 million, and pro forma debt balance was $21.0 million. Amounts in millions:       Actual Cash at September 30, 2021 $           1.7   Net Proceeds Received from IPO   59.5   Pay down of Debt   (10.2 ) Transaction Expenses   (4.0 ) Contingent Payments   (3.0 ) Pro Forma Cash at September 30, 2021 $     44.0   After the quarter end, the Company amended its existing revolving credit facility to, among other things: 1) increase the maximum borrowing capacity under the revolving credit facility from $18.5 million to $50.0 million; 2) increase the borrowing capacity under the capital expenditure line from $3.0 million to $20.0 million; 3) reduce the interest rate on the revolving credit facility from 12.0% to approximately 7.0%; and 4) extend the maturity date of the facility to November 30, 2025. The Company believes that this pro forma cash balance, along with the increase in borrowing capacity, provide it with sufficient liquidity to fund the business for the foreseeable future. Outlook For the year ending December 31, 2021, the Company currently expects: Net sales of approximately $83 million to $85 million, reflecting an increase of approximately 113% to 118% compared to 2020 Adjusted gross margin of approximately 19.6% to 21.0% Adjusted EBITDA loss of approximately $8.0 million to $9.5 million For the year ending December 31, 2022, the Company currently expects: Net sales of approximately $115 million to $125 million, reflecting an increase of approximately 37% to 49% compared to 2021 Adjusted gross margin to increase on a year-over-year basis Adjusted EBITDA loss of approximately $8 million to $15 million Long-term, the Company currently expects: Net sales growth of at least 30% Adjusted gross margin of at least 30% The Company is not providing guidance for gross margin or net loss, the most directly comparable GAAP measures, and similarly cannot provide a reconciliation between its forecasted adjusted gross margin and gross margin and adjusted EBITDA and net loss without unreasonable effort due to the unavailability of reliable estimates for certain items. These items are not within the Company's control and may vary greatly between periods and could significantly impact future financial results. (1) Adjusted gross profit, adjusted gross margin, and adjusted EBITDA are non-GAAP financial measures. Adjusted gross profit means, for any reporting period, gross profit adjusted to exclude the impacts of costs and adjustments identified by management as affecting the comparability of our gross profit from period to period. Adjusted gross margin means adjusted gross profit as a percentage of net sales. Adjusted EBITDA means, for any reporting period, net income (loss) before depreciation and amortization, income taxes, and interest expense, adjusted to exclude the impact of transaction expenses, as well as other costs and adjustments identified by management as affecting the comparability of our operating results from period to period. See the information provided under the section entitled "Non-GAAP Financial Measures" within this release for a discussion of why we believe these measures are important, and the reconciliation table at the end of this release for a reconciliation thereof to the most directly comparable GAAP measures. Conference Call and Webcast Details The Company will host a conference call with members of the executive management team to discuss these results with additional comments and details today at 4:30 p.m. ET. The conference call webcast and supplemental presentation will be available on the "Investors" section of the Company's website at www.realgoodfoods.com. To participate on the live call, listeners in the U.S. may dial (877) 451-6152 and international listeners may dial (201) 389-0879. A telephone replay will be available approximately two hours after the call concludes through December 21, 2021, and can be accessed by dialing (844) 512-2921 from the United States, or (412) 317-6671 internationally, and entering the passcode 13725258. About The Real Good Food Company Founded in 2016, Real Good Foods believes there is a better way to enjoy our favorite foods. Its brand commitment, "Real Food You Feel Good About Eating," represents the Company's strong belief that, by eating its food, consumers can enjoy more of their favorite foods and, by doing so, live better lives as part of a healthier lifestyle. Its mission is to make craveable, nutritious comfort foods that are low in carbohydrates, high in protein, and made from gluten- and grain-free real ingredients more accessible to everyone, improve human health, and, in turn, improve the lives of millions of people. Real Good Foods offers delicious options across breakfast, lunch, dinner, and snacking occasions available in over 16,000 stores nationwide, including Walmart, Costco, Kroger, and Target, and directly from its website at www.realgoodfoods.com. Learn more about Real Good Foods by visiting its website or on Instagram at @realgoodfoods, where it has one of the largest social media followings of any brand within the frozen food industry today with nearly 400,000 followers. Non-GAAP Financial MeasuresIn addition to our financial results determined in accordance with generally accepted accounting principles in the United States ("GAAP"), we believe that adjusted gross profit, adjusted gross margin, and adjusted EBITDA, each of which is a non-GAAP financial measure, are useful performance measures and metrics for investors to evaluate current trends in our operations and compare the ongoing financial and operating performance of our business from period to period. In addition, management uses these non-GAAP financial measures to assess our operating performance and for internal planning purposes. We also believe these measures are widely used by investors, securities analysts, and other parties in evaluating companies in our industry as measures of financial and operational performance. However, the non-GAAP financial measures included in this press release have limitations and should not be considered in isolation, as substitutes for, or as superior to, performance measures calculated in accordance with GAAP. Other companies may calculate these measures differently, or may not calculate them at all, which limits the usefulness of these measures as comparative measures. Because of these limitations, we consider, and you should consider, adjusted gross profit, adjusted gross margin, and adjusted EBITDA with other operating and financial performance measures presented in accordance with GAAP. To the extent the Company utilizes such non-GAAP financial measures in the future, it expects to calculate them using a consistent method from period to period. Forward-Looking Statements This press release contains "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995, which statements are subject to considerable risks and uncertainties. Forward-looking statements include all statements other than statements of historical fact contained in this press release, including statements regarding our projected financial results, including net sales, gross margin, gross profit, adjusted gross profit, adjusted gross margin, and adjusted EBITDA. We have attempted to identify forward-looking statements by using words such as "believe," "estimate," "expect," "intend," "may," "plan," "predict," "project," "should," "will," or "would," and similar expressions or the negative of these expressions.  Forward-looking statements represent our management's current expectations and predictions about trends affecting our business and industry and are based on information available as of the time such statements are made. Although we do not make forward-looking statements unless we believe we have a reasonable basis for doing so, we cannot guarantee their accuracy or completeness. Forward-looking statements involve numerous known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements predicted, assumed or implied by the forward-looking statements. Some of the risks and uncertainties that may cause our actual results to materially differ from those expressed or implied by these forward-looking statements are described in the section entitled "Risk Factors" in our Form S-1, as amended, filed in connection with our IPO. In addition, readers are cautioned that we may make future changes to our business and operations in response to the challenges and impacts of the COVID-19 pandemic, or in response to other business developments, which changes may be inconsistent with our prior forward-looking statements, and which may not be disclosed in future public announcements. Condensed Statements of Operations (In thousands)   THREE MONTHS ENDED   NINE MONTHS ENDED   SEPTEMBER 30,   SEPTEMBER 30,     2021       2020       2021   2020   Net sales $ 23,014     $ 9,745     $ 58,477     $ 27,799   Cost of sales   20,659       9,907       49,447       26,346   Gross profit   2,355       (162 )     9,030       1,453   Operating expenses:               Selling and distribution   4,323       1,754       10,291       5,703   Marketing   1,732       356       3,119       1,936   Administrative   1,875       682       7,677       1,755        Total operating expenses   7,930       2,792       21,087       9,394   Loss from operations   (5,575 )     (2,954 )     (12,057 )     (7,941 ) Interest expense   839       1,262       4,322       3,744   Other income   (309 )     -       (309 )     -   Change in fair value of convertible debt   5,730       -       6,100       -   Loss before income taxes   (11,835 )     (4,216 )     (22,170 )     (11,685 ) Income tax expense   -       -       -       13   Net Loss $ (11,835 )   $ (4,216 )   $ (22,170 )   $ (11,698 ) Preferred return on Series A preferred units   146       136       438       409   Net loss attributable to common unitholders $ (11,981 )   $ (4,352 )   $ (22,608 )   $ (12,107 )            .....»»

Category: earningsSource: benzingaDec 7th, 2021