Another pull from that FT article: “Some Wall Streeters also feel able to embrace making money openly, without nodding to any broader social goals. “Most of us don’t have to kiss ass because, like Trump, we love America and capitalism,” one said.”
My brother in Christ, you work on Wall Street! What manager of yours was saying you had to denounce the free market? The victim complex on these guys…what ever happened to Gary Cooper?
Foul banker language is unwise. Bankers are client facing. They could easily lose a deal through the wrong phrase. I remember interviewing a banker for a PE job. The interview was effectively over once he said something about someone getting down on their knees (neither to pray nor show obeisance). Traders may be different.
Somewhat related: A very high up person at Credit Suisse once told me that the bankers are the soldiers and sergeants, the traders are the jocks and poker players, and the research analysts are the professors.
“Smart tiktokers” made me laugh. If short form video gets pushed more on here I’ll def delete the app and just read my email but shoutout to the Feed Me reader who told me how to switch the home landing page to your inbox and not notes! I hate notes
@chris - why can we not easily become a paid subscriber in the app? I only use the app, no newsletter subs because my email box is messy and hard to organize. I intentionally read on the app when I have the bandwidth and mind time to take in quality content from real writers/journalists. When I’m reading something intriguing and the preview ends for paid only, I can’t upgrade then and there when I’m already hooked. Have lots of simple / UX product recs for ya.
My guess: Apple’s 30% fee for digital goods and services is why they won’t let us sign up for paid subs in the app. Other apps have accepted this fate by charging 30% more in their apps to offset the fee but I would guess Substack doesn’t want to sully its brand with too many exorbitant prices just yet. But UX-wise, it does suck. Epic Games waged a very public lawsuit over this issue and lost. Hopefully one day Apple decides they don’t need this money or can make up for it with volume and lowers the fee.
One of the last fun things I remember doing before Covid was making a day of going to the Austin Glossier pop up with some friends. We got there about 20 minutes early and despaired of the line but it went really fast. They seem to have a really good handle on crowd control and management.
I'm more skeptical about tiktok users finding their way to sub stack than I am content creators. And I've never heard of Dear Media, and I checked it out and I don't think it's essential listening dare I say.
I blame Billions and Industry for whichever "top banker" feels like he's not allowed to swear and make discriminatory remarks cause of "woke" lmao. Sir, this is a work place.
I’m not convinced it could ever replace TikTok—or even provide a decent floatation device if TikTok sinks. The two platforms thrive on totally different energies: TikTok is all about quick entertainment and massive reach, while Substack offers a space for deeper dives and more thoughtful engagement. There's something innately different about someone opting in/ allowing you in their email inbox versus popping up on their algorithmic feed. It’s not exactly a “viable home” for my own million followers if TikTok goes away - perhaps a very, very small percentage. That said, I do appreciate Substack’s new features and their eagerness to welcome TikTokers. For creators who want a more long-form, subscription-based model, it could be a great opportunity. But for me, Substack and TikTok serve entirely different purposes. I think of Substack as a bonus or “extra credit” for the segment of my audience that wants more than short-form videos—and is willing to opt in for it.
I don't understand the economics of the Tin losing 100k/day - does that mean it costs 100k/day more to operate than it earns?? I'm not surprised it's failing. Little foot traffic, etc. But I don't ever find food courts appealing - not in malls, not in airports, and not dressed up with a pedigreed chef's signature in a city renown for excellent, intimate restaurants. I like small, cared for shops, especially where my food is concerned. I think most New Yorkers feel this way.
I am a Vegas Adult in the way that people are Disney Adults and one of my most loathed new trends in high end Vegas hotels is the rise of the food hall. With the exception of something like Eataly, I find them to be a miserable experience. It's a fancy food court and I'm paying $50 to eat lunch at a table I have to bus myself? No thank you.
The place always feels too hectic and open. I don't want to pay top dollar for food and feel like I'm dining at the mall. The House of the Red Pearl was the only spot worth visiting, and that was because it was almost entirely sealed off from the main complex due to its speakeasy-style entrance.
One other interesting thing to me is how involved JGV appears to be. I've seen him in there multiple times, giving tours to well-heeled-looking guests.
My inclination is to say the projections that informed the financing of these food halls were both done pre-pandemic and presumed that the projects would generate demand by nature of their existence. The Manhattan “hall” style projects that appear successful/stable have developments attached to them that keep captive audiences and lean on safe regional/national restaurateurs as anchors- Grand Central/Penn’s embedded food spaces, various office complexes (The Hugh, Rock Center, Brookfield Place) - and their economics are murkier, as in landlords can opt to lease them cheaply if they want to provide an amenity for tenants/commuters. I’m excepting Eataly because of its tourist-destination status.
Per SEG’s latest 10Q it looks like the losses are narrowing (~85k a day) but that they’re waving the white flag and writing their investment in the project down permanently, acknowledging that they overshot. Essex Market (2024), Citizens Manhattan West (Yesterday) come to mind as more highbrow food halls that bit dust.
Is most of dear media’s portfolio homegrown or m&a? I’d be interested in a timeline. (And totally agree, weird they’re generally mia from the broader podcast business conversation)
Another pull from that FT article: “Some Wall Streeters also feel able to embrace making money openly, without nodding to any broader social goals. “Most of us don’t have to kiss ass because, like Trump, we love America and capitalism,” one said.”
My brother in Christ, you work on Wall Street! What manager of yours was saying you had to denounce the free market? The victim complex on these guys…what ever happened to Gary Cooper?
Not the TikTok-ization of Substack 😩 we will never know peace
Foul banker language is unwise. Bankers are client facing. They could easily lose a deal through the wrong phrase. I remember interviewing a banker for a PE job. The interview was effectively over once he said something about someone getting down on their knees (neither to pray nor show obeisance). Traders may be different.
I love this comment section
Somewhat related: A very high up person at Credit Suisse once told me that the bankers are the soldiers and sergeants, the traders are the jocks and poker players, and the research analysts are the professors.
“Smart tiktokers” made me laugh. If short form video gets pushed more on here I’ll def delete the app and just read my email but shoutout to the Feed Me reader who told me how to switch the home landing page to your inbox and not notes! I hate notes
The app is hell
@chris - why can we not easily become a paid subscriber in the app? I only use the app, no newsletter subs because my email box is messy and hard to organize. I intentionally read on the app when I have the bandwidth and mind time to take in quality content from real writers/journalists. When I’m reading something intriguing and the preview ends for paid only, I can’t upgrade then and there when I’m already hooked. Have lots of simple / UX product recs for ya.
my pet peeeeeeeve
My guess: Apple’s 30% fee for digital goods and services is why they won’t let us sign up for paid subs in the app. Other apps have accepted this fate by charging 30% more in their apps to offset the fee but I would guess Substack doesn’t want to sully its brand with too many exorbitant prices just yet. But UX-wise, it does suck. Epic Games waged a very public lawsuit over this issue and lost. Hopefully one day Apple decides they don’t need this money or can make up for it with volume and lowers the fee.
Stayed at Hotel Peter and Paul this past weekend! The bar is so gorgeous, highly recommend
I stayed at an Ash hotel in Baltimore and it was STUN
There are so many good hotels in NO, but I think Peter and Paul is my favorite, followed closely by Columns.
The Columns 🙏🏼🙏🏼🙏🏼
I’m obsessed with Peter and Paul was there in November and loved the Elysian bar! ❤️
They do such a great job on their hotels
“We’re aiming to inspire a movement” 🙃
Blessed for the Glossier appearance in MN. I want to go but am dreading the line.
One of the last fun things I remember doing before Covid was making a day of going to the Austin Glossier pop up with some friends. We got there about 20 minutes early and despaired of the line but it went really fast. They seem to have a really good handle on crowd control and management.
It goes until 6 on Saturday so I’m thinking if I go at 5 it might be ok? But this is good intel!
Oh that's an excellent idea. I think that has a real chance of success.
If you go you MUST report back to us
🫡
I'm more skeptical about tiktok users finding their way to sub stack than I am content creators. And I've never heard of Dear Media, and I checked it out and I don't think it's essential listening dare I say.
Def not essential listening lol
I blame Billions and Industry for whichever "top banker" feels like he's not allowed to swear and make discriminatory remarks cause of "woke" lmao. Sir, this is a work place.
Something about the recent Glossier tv ad felt v reminiscent of L’Oréal
I didn't see it! Can you link?
Was the TV/YT ad for Black Cherry! I’ll need to find it, it doesn’t live on any of their pages. Same look and feel to the Midwest activation
Hell yeah Emily in Sydney
I’m not convinced it could ever replace TikTok—or even provide a decent floatation device if TikTok sinks. The two platforms thrive on totally different energies: TikTok is all about quick entertainment and massive reach, while Substack offers a space for deeper dives and more thoughtful engagement. There's something innately different about someone opting in/ allowing you in their email inbox versus popping up on their algorithmic feed. It’s not exactly a “viable home” for my own million followers if TikTok goes away - perhaps a very, very small percentage. That said, I do appreciate Substack’s new features and their eagerness to welcome TikTokers. For creators who want a more long-form, subscription-based model, it could be a great opportunity. But for me, Substack and TikTok serve entirely different purposes. I think of Substack as a bonus or “extra credit” for the segment of my audience that wants more than short-form videos—and is willing to opt in for it.
extra credit is such a good way to put it
I don't understand the economics of the Tin losing 100k/day - does that mean it costs 100k/day more to operate than it earns?? I'm not surprised it's failing. Little foot traffic, etc. But I don't ever find food courts appealing - not in malls, not in airports, and not dressed up with a pedigreed chef's signature in a city renown for excellent, intimate restaurants. I like small, cared for shops, especially where my food is concerned. I think most New Yorkers feel this way.
I am a Vegas Adult in the way that people are Disney Adults and one of my most loathed new trends in high end Vegas hotels is the rise of the food hall. With the exception of something like Eataly, I find them to be a miserable experience. It's a fancy food court and I'm paying $50 to eat lunch at a table I have to bus myself? No thank you.
The place always feels too hectic and open. I don't want to pay top dollar for food and feel like I'm dining at the mall. The House of the Red Pearl was the only spot worth visiting, and that was because it was almost entirely sealed off from the main complex due to its speakeasy-style entrance.
One other interesting thing to me is how involved JGV appears to be. I've seen him in there multiple times, giving tours to well-heeled-looking guests.
My inclination is to say the projections that informed the financing of these food halls were both done pre-pandemic and presumed that the projects would generate demand by nature of their existence. The Manhattan “hall” style projects that appear successful/stable have developments attached to them that keep captive audiences and lean on safe regional/national restaurateurs as anchors- Grand Central/Penn’s embedded food spaces, various office complexes (The Hugh, Rock Center, Brookfield Place) - and their economics are murkier, as in landlords can opt to lease them cheaply if they want to provide an amenity for tenants/commuters. I’m excepting Eataly because of its tourist-destination status.
Per SEG’s latest 10Q it looks like the losses are narrowing (~85k a day) but that they’re waving the white flag and writing their investment in the project down permanently, acknowledging that they overshot. Essex Market (2024), Citizens Manhattan West (Yesterday) come to mind as more highbrow food halls that bit dust.
Is most of dear media’s portfolio homegrown or m&a? I’d be interested in a timeline. (And totally agree, weird they’re generally mia from the broader podcast business conversation)