enRICHed: volume 65
hellllllo beautiful besties
Sunday January 28, 2024
Volume 65
Game of Greed 😈
I finished Netflix’s new show The Trust this weekend - and despite initially doubting the concept, I can’t deny I was hooked. If you haven’t watched, I don’t know if I would recommend, but it is an interesting social game. Starting at 11 people, you can all split $250K evenly - but over time, you can vote people out to have a bigger share for yourself. What would you do? There was a surprising amount of strategy deployed during the game as it progressed, definitely prompted by the producers, and I found myself going back and forth on who I supported. But once I got to the end, I fully was convinced I would be out for myself - if I made it that far, I would fully take the money and run! Did anyone else watch and have thoughts? Favorites? Least favorites? Find me in the comments, I will be pumped to discuss.
Also, I have an issue watching these shows because all I think about is how much of the reward money will need to be given back in taxes. You don’t get 25K you get 12K, c’mon people. Is this insane? Anyone else?
As a reminder:
HYCU, pronounced haiku: how the news impacts you and your wallet, aka How You Can Use
The Prosperitea: think discount codes, non-boring finance articles, sales, and personal links from the week. The fun stuff 😉
We love your comments, but please remember to keep it positive! And don’t take investing advice from anyone who isn’t your registered financial advisor!
Now that you’re up to speed, let’s get you enRICHed.
Netflix Stays Winning 🤼📺
Netflix had a week of excellent headlines after strong earnings sent its stock soaring. It’s announcement of a new WWE contract furthered the press.
Netflix announced that they added 13 million net new streaming subscribers this quarter, on the heels of password crackdown and cheaper tiers.
On top of this, the data shows that Netflix’s churn rate has stayed consistent despite price increases. This is a huge win, as analysts expected more of a hit here.
While Amazon Prime and Peacock made the first moves, bidding for live football games this season well into the playoffs, Netflix’s contract to stream WWE’s “Monday Night Raw” cements a new core feature of the steaming platform.
Netflix’s deal makes it the home of “Monday Night Raw” - a show with a loyal audience, that has been on live cable television for 31 years.
Content will include other live WWE events, series and documentaries over the 10-year deal.
HYCU; Netflix has previously dipped its toes in live streaming like comedy specials and reunion shows, but this is a huge commitment to live sports. For those of us who remember peeing during American Idol’s commercial breaks, it’s interesting to watch the television world ebb and flow, now moving the needle back towards live events. Will the increase in live events give Netflix more leverage for price hikes? Only time will tell.
Give Me Shelter 🏡⏳
According to census data, 16% of US millennials lived with their parents in 2022.
This may not be surprising to you, as you likely have friends who are doing this or you are doing it yourself (me!). With the cost of mortgages and rent sky high, the best way to save is not to spend.
The number of first-time home buyers who moved into their first home from a friend or family’s home where they were paying no rent has grown, hitting 27% in 2022.
HYCU; with the median first-time home buyer age growing to 36, it’s obvious that things have changed from when our parents’ were buying homes at 29. With rent being the least affordable it has been in years, young millennials are frustrated. If taking the next step in adulthood is buying property, and you can’t do that, shame can mount. Viv’s recent podcast with Ryan Serhant covers this topic pretty in depth and may make you feel less alone in your emotions towards the housing market:
Productive at Home? 🧑💼
2020 sparked a new era of office culture, mandating full time WFH during the COVID pandemic. Now, the country is trying to find the best balance between hybrid work and a productive workforce. The question of whether or not remote work is sustainable is slowly being answered.
The Federal Reserve Bank of San Francisco found no meaningful effect on productivity across 43 private-sector industries.
It did find that teleworkability varies drastically by industry though, with data processing/internet companies most able to work from home vs. those in accommodation and food services, who are least able.
Another paper, out this past week, focused on 1 Fortune 500 company. Focusing on 1 company allowed these economists to uncover more nuanced answers:
Not surprisingly, working in an office increases mentorship. Junior employees can more easily seek advice from senior leaders when they are seated next to each other or passing one another in the hallways.
For engineers, productivity from a coding perspective did go down when in the office. The paper presumes that is because senior engineers were engaging more often with team members.
Another thing to note was the ability to hire from anywhere, no longer restrained by an employee’s commute, can decrease the amount of time spent training new employees.
HYCU; these studies present information that is more or less intuitive. However, mentorship and visibility sticks out. The second study found that junior workers who were on the team prior to hybrid work were more likely to get a raise. For the besties, this means that if you’re asking for a raise, you need to make sure that on top of people seeing the work you’re bringing to the table, they see you in person as well.
BetMGM 🏈💸
The feature will display sports gambling stats directly on the site, and will link X accounts to BetMGM - allowing users to link out and place bets directly.
BetMGM is a competitor of DraftKings and FanDuel, two betting platforms that I feel like have been dominating commercials lately (simply meaning that they have been the most memorable IMHO). This will put BetMGM in front of the millions of X users, adding a level of ease that could convert those who may have otherwise used alternative platforms.
HYCU; CNN reported that the Super Bowl is expected to draw 50.4 million US gamblers. It’s expected that the bets will largely be prop bets, meaning bets that don’t have a direct bearing on the final score of the game. Prop bets can be made live, so the live betting tool on X may facilitate even more bets than expected. X crashed last year during the Super Bowl halftime show - will it crash again because it’s making it easier for more American to gamble?
FYI - Super Bowl Squares are fun and low risk, live gambling from your phone is a whole other story. There are way better ways to spend your money! Like a High Yield Savings Account!
Rich Tip of the Week: Tax Changes in 2024 That You Need to Know
Something I cooked this week: Ginger shots cost $12 at Whole Foods. These flu fighter shots from The Happy Pear are so easy to make at home and don’t need to be strained. 10/10 for flu season. 10/10 for your wallet.
Something I read this week:
wrote a piece entitled “Who Gets Quality Time” about male vs. female hobbies and what it means about time spent at home. Super interesting concept backed by some great statistics.Something I listened to this week: Allie Bennett’s treadmill struts are always fun, but this one lead me to my latest obsession Peach PRC
Some things I loved this week:
This new coat to wear to work that is roomy and professional (and 50% off) all at the same time
Valentines Day beanies make a perfect gift for your fellow besties
I think I might need these Comme Si pants for the summer (what do you think - pink or green??)
Another dupe! The Internet is raving about this Bottega lookalike, can anyone confirm the hype?
Finally, I love the look of a chunky black sandal - these could fit the bill. CAN ANYONE TELL I AM SICK OF THE COLD?!
SEE YOU IN THE COMMENTS BESTIES
This is Chris from a suburb of Chicago. I would have loved to seen you at your book signing but with the weather being so nasty here and the fact that I work a 16 hour job, yes 16 hours that was my only day off and pretty much I sleep And get things done when I’m off. If you schedule another one later in the year, please let us know sometime where it’s warmer out. I would be interested in going at that time.