Silver Fox, The Copycats, and The Privilege 👨‍🦳

Using your money to cut a line – now, that's a novel business concept. 

An emerging cluster of startups is capitalizing on the lucrative market of expediting experiences, as reported by CNN.

The startup Clear lets individuals bypass airport security queues for an annual fee of $189. It has approximately 19 million members. Meanwhile, Tinder has taken the concept virtual, charging users $499 a month for the privilege of skipping the dating profile queue and receiving prioritized attention.

In the realm of leisure, ski resorts now offer fast-track passes for ski lifts at an additional cost, with Killington's four-day pass priced around $200, excluding regular fees. Even at Universal Studios, an express pass allowing patrons to skip lines in the theme park begins at approximately $110, in addition to the admission fee.

Does the notion of paying to jump the TSA queue raise ethical eyebrows? 

Yes it does. In fact, the consequences of this practice became quite clear during the pandemic when some wealthy people sought to pay for early access to vaccines, showcasing the intricate interplay between privilege and priority.

Unsurprisingly, the rising popularity of line-cutting has sparked backlash. Over 13,000 skiers, for instance, signed a petition against Mount Bachelor's fast passes, although their efforts proved unsuccessful.

Sadly though, the idea of the rich paying for better experiences, faster is not new, and will continue to perpetuate no matter the social consequences. 

Wall Street has high hopes for Nvidia’s stock. 

The stock is already riding the highs of $775+ because of its booming AI chip business and self-driving car deals. Now the street thinks the share price will soon see the likes of $1,000 and beyond.

Financial markets have been soaring. People are feeling confident about the economy again. As a result, many Americans are contemplating bidding farewell to their professional lives, especially when forced to return to the office. 

In December, the United States witnessed an unexpected surge in retirements. While economists long expected this surge, thanks to baby boomers entering their 60s, the actual numbers exceeded predictions of economists by 2.7 million.

Not so long ago, in 2020, we experienced a ‘Great Retirement' wave, marked by the pandemic, that led to a 3.2% decline in the labor force participation rate within a mere two months – the most substantial drop on record. However, today’s retirement boom is not driven by a lethal virus; instead, by the robust state of 401(k) balances and the shifting work mentality of millennial and Gen-Z. Young retirement savers have made large gains since last year’s market rout. Fidelity says that 401(k) balances for millennials have risen 24.5% from the same time last year and 66.5% for Gen Zers.

Two weeks ago we discussed the increasing craze for sports betting apps among Americans in our newsletter. 

Now the sad phenomenon of underage gambling on sports apps, is about to get even sadder, as Apple launches its new sports app. Named Apple Sports, the app allows users to quickly compare teams’ stats and live betting odds. 

Meanwhile, it’s also reportedly trying to own ESPN so as to bag more profits from sports media right (which is still a bigger business than sports betting).

Here’s a look at the big numbers defining the game.

$56 billion: Global value of sports media rights

160 million: Americans who watch sports at least once a month

45%: How much sports betting revenue increased in 2023

$24 billion: Reported value of ESPN

😨 Fires Are Coming - Authorities in the Canadian province of Alberta have declared an early start to wildfire season — even sooner than last year’s March 1st start date.  

🧎 Hungry People - A study has found that Argentina's poverty rate hit 57% in January — the highest level in 20 years.

🤥 Gemini's Faking Problem - Google paused its AI image generator from making up fake people. Apparently it thinks Nazi-era soldiers were "racially diverse". 

🏦 Billionaire's investments - These are the stocks that Bill Gates, Jeff Bezos, and more of the world's richest people are buying and selling. 

🎲 The Big Game - By one estimate, Monopoly accounts for ~30% of all mass-market board game sales in the world

🙍‍♂️ Short-lived Happiness - A man in Washington DC thought he won $340 million because of a mistake on the lottery website. Now he's suing Powerball.