Together with
Christmas comedown. Happy Tuesday, FutureParty people. We’re not sure about you, but after the long holiday weekend, we could definitely use a post-Christmas pick-me-up. Thankfully, coffee is always in season here at TFP… just in time for this week’s end-of-year push.
Remember: Finish strong. Stay caffeinated.
In other news… fewer Americans can afford to eat out, GTA is the OG of virtual fashion, and employees brace for layoffs in 2024.
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CULTURE
Would you like some fries with that gold? // Illustration by Luke Perrotta with DALL-E
Dining out has become a rich person’s sport
The Future. While many sectors of the economy have recovered from the pandemic, most sit-in restaurants haven’t — and the ones that have are too expensive for most people to patronize. If trends continue, dining out may become a flashy spectacle consumed only by elites.
Priced out to takeout
Various factors have made sit-in dining unaffordable for most of us.
Restaurants are forced to charge more — 24% more (on average) since 2020 — because rent and ingredients cost more while people eat out less often.
But high-end restaurants have inflated prices far beyond the average rate and haven’t been punished because the few who can afford the experience have too much money to care.
Meanwhile, affordable restaurants are suffering more closures than usual in recent years, leaving would-be diners with fewer options.
In-eat-quality
Demand for fancy restaurants seems fairly inelastic, at least for the most viral and prestigious establishments. Eating at such places will only get less affordable so long as the lucky few treat those meals like luxuries.
For the rest of us, there are always burritos.
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FASHION
Pimp my avatar // Illustration by Kate Walker
How GTA spawned the world of virtual fashion
The Future. Over the past two decades, the Grand Theft Auto franchise has taught the game industry to care about what their characters wear — helping to create the virtual fashion industry that now informs real fashion. And with GTA VI on the horizon, that field could get yet another boost from Rockstar’s golden goose.
64-bit fit
From the beginning, the Grand Theft Auto series has had a passion for fashion.
GTA III’s protagonist, Claude, donned casual wear that differentiated him from the classic slick mobster type.
GTA: Vice City elevated fashion-as-world-building by capturing clothing trends in the city that inspired it.
And San Andreas broke with tradition by making fashion choices affect game outcomes.
GTA IV emulated the experience of in-person clothes shopping…
…while GTA V hired a costume designer and created tens of thousands of possible outfits by scanning human models who wore the clothes in real life.
Rockstar even created fake companies imitating brands like Supreme and Palace and eventually collaborated with real brands to create in-game clothing lines.
Clothesing the gap
With GTA VI dropping sometime in 2025 (and starring the series’ first female protagonist), Rockstar will likely expand their selection of women’s wear.
Now, everyone can look good breaking the law.
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Don’t let another year go by without taking care of your skin, and upgrade to Tiege Hanley today.
BUSINESS
Pink slip blues // Illustration by Kate Walker
Layoffs are in the cards for 2024
The Future. As recession fears still grip business leaders and companies begin replacing workers with AI, we can expect to see more job cuts across industries next year. While this appears to be grim news, the silver lining may be that organizational changes could eliminate unnecessary complexity at the workplace.
Less is more?
38% of business leaders surveyed by ResumeBuilder think layoffs are on the horizon in 2024, and around 50% admit their company will implement a hiring freeze, reports Business Insider.
Nike announced an up-to-$2 billion cost-cutting initiative that’ll take place over the next three years and entail making job cuts, “increasing automation and use of technology,” and “simplifying our product assortment.”
Citigroup is reducing “management layers” to speed up company decisions — one of the biggest overhauls the bank has experienced in 20 years.
Intel will lay off 235 employees at its Folsom campus, ending the year with five rounds of job cuts.
Pink slip blues
While these cuts may help the bottom line, they could prove devastating to those impacted at a sensitive time of year. Here’s hoping companies treat them with dignity, respect, and a generous severance package.
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YOUR DAILY POLL
We ask the hard-hitting questions.
46.8% of you voted for Paul McCartney’s “Wonderful Christmastime” in Friday’s poll: What’s your favorite Christmas song from a former Beatles member?
“I love the other songs, especially ‘Happy Xmas (War Is Over),’ but Sir Paul’s ‘Wonderful Christmastime’ always brings a smile to my face. I guess ‘the feeling’s here, that only comes, this time of year.’”
“It’s happy.”
“The individual Beatles Xmas songs prove that they should not have broken up. Better together.”
Highlights
The best curated daily stories from around the web
Media, Music, & Entertainment
Lionsgate will separate its studios business valued at $4.6 billion (including debt) and merge it with Screaming Eagle Acquisition Corp. in an SPAC deal. Read More → thr
The types of holiday movies audiences want have changed over time, with a desire for holiday thrillers catching on in recent years. Read More → thewrap
NBCUniversal has reached 82 million viewers since Thanksgiving with its holiday programming across NBC and Peacock. Read More → variety
Fashion & E-Commerce
The short suit is the new “rich mom” uniform, hovering between leisure and business wear. Read More → vogue
After Nike’s stock plummeted on Friday, shares also fell for DICK’S Sporting Goods, Puma, Under Armour, Foot Locker, and adidas, because apparently what happens at Nike impacts the broader athletic wear market. Read More → insider
Apple can no longer sell its newest watch models in the US after the International Trade Commission ruled that it infringed on patents held by medical device manufacturer Masimo. Read More → theverge
Tech, Web3, & AI
Tesla cars had the worst accident rate in the US this year, with 24 accidents per 1,000 drivers. Read More → qz
Spotify is protesting a new tax aimed at music-streaming platforms in France by removing its support for two music festivals. Read More → techcrunch
Humane’s AI Pin, the world’s first wearable computer powered by AI, will begin shipping in March 2024. Read More → theverge
Creator Economy
Shopify has reimagined the Shop app as a tool for viewers around the world to request holiday gifts from MrBeast until January 6th. Read More → tubefilter
Cool Cats, the feline NFT collection, has launched a new character-brand coffee on the heels of their Macy’s in-store and online merch partnership. Read More → theuntold
Martin Scorsese will direct his first Super Bowl commercial for the website-building platform Squarespace. Read More → adage
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Today’s email was written by Luke Perrotta and Kait Cunniff.
Edited by Nick Comney.
Published by Darline Salazar.