Tag: lifestyle

Making adulthood more desirable

I definitely feel this at the moment. As a parent, your kids mostly follow what you do rather than what you say, which confers quite a bit of a responsibility about how you choose to live your life…

Young woman with lights

For many, adulthood means trading a life entirely devoted to learning for one in which you only read (maybe) two books a year. It means swapping a full schedule of sports, clubs, and music lessons for having exactly zero hobbies (unless watching Netflix counts). It means going from hanging out with peers for the bulk of each day to (maybe) seeing friends a few hours a month. It means shifting from experiencing plenty of firsts to being stuck in a hamster wheel of thousandths.

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Adulthood means taking on more responsibilities, and in turn, receiving more privileges. Unless we do something worthwhile — fun, interesting, desirable — with those privileges, young people won’t want to apply to the society of grown-ups, and adults won’t be able to wholeheartedly encourage them to join its ranks.

Source: Sunday Firesides: We Need to Make Adulthood More Desirable | The Art of Manliness

Image: Henri Pham

The end of the Millennial Lifestyle Subsidy

What goes up must come down. In this case with prices of services backed by VC firms, the reverse is true…

For years, these subsidies allowed us to live Balenciaga lifestyles on Banana Republic budgets. Collectively, we took millions of cheap Uber and Lyft rides, shuttling ourselves around like bourgeois royalty while splitting the bill with those companies’ investors. We plunged MoviePass into bankruptcy by taking advantage of its $9.95-a-month, all-you-can-watch movie ticket deal, and took so many subsidized spin classes that ClassPass was forced to cancel its $99-a-month unlimited plan. We filled graveyards with the carcasses of food delivery start-ups — Maple, Sprig, SpoonRocket, Munchery — just by accepting their offers of underpriced gourmet meals.

These companies’ investors didn’t set out to bankroll our decadence. They were just trying to get traction for their start-ups, all of which needed to attract customers quickly to establish a dominant market position, elbow out competitors and justify their soaring valuations. So they flooded these companies with cash, which often got passed on to users in the form of artificially low prices and generous incentives.

Now, users are noticing that for the first time — whether because of disappearing subsidies or merely an end-of-pandemic demand surge — their luxury habits actually carry luxury price tags.

Source: Farewell, Millennial Lifestyle Subsidy | The New York Times