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Happy Thursday, Future Party. As we chronicle the many ways culture shifts with each new generation coming of age, here’s one thing that may go the way of the dodo: saying “hello” when answering the phone. Turns out Gen Z just… doesn’t do that. They wait for the caller to speak first — partly because the call might be spam or a deepfake scam, and partly because young people have developed a certain anxiety around talking to strangers on the phone. We guess it really is easier to just send a text.
DAILY TOP TRENDS
YouTube – Stranger Things 5
X
(Twitter)– Shane GillisGoogle – Tomorrowland
Reddit – Citizen Kane
Letterboxd – Jurassic World Rebirth
Spotify – “Man On A Mission”
Tech Billionaires Launch A Replacement For Silicon Valley Bank
Anduril co-founder Palmer Luckey and Palantir co-founders Joe Lonsdale and Peter Thiel have filed a bank charter for a new financial institution called Erebor Bank, which will focus on providing services for high-risk industries, such as AI, crypto, and defense tech.
The Big Picture: The Trump administration has significantly rolled back regulations around establishing new banks, prompting crypto firms like Circle and Ripple to apply for charters and pave the way for a new financial era. If Erebor gets the green light, it aims to fill the gap left by the 2023 collapse of Silicon Valley Bank.
Between the Accounts: As noted by Wired, Erebor Bank is named after a term from J.R.R. Tolkien’s Middle-earth books, similar to Anduril and Palantir. Erebor is the name of the mountain where the dragon Smaug hoards treasure.
That’s what Erebor wants to do for Silicon Valley.
The bank — which will be run by a mix of banking, crypto, and VC execs — is launching with over $250 million in funding from Luckey, Lonsdale’s VC firm 8VC, Thiel’s Founders Fund, VC firm Haun Ventures, and several unnamed investors.
If granted its charter, Erebor will be able to “accept deposits, make loans, and be eligible for Federal Reserve payment systems as well as FDIC insurance.”
Just like Silicon Valley Bank before it, Erebor’s prospective business clients will be those “not well served by either traditional or disruptive financial institutions, in particular with respect to insufficient access to credit” (i.e., Silicon Valley startups).
The bank also hopes to become the leading institution in crypto-banking products, including becoming “the most regulated entity conducting and facilitating stablecoin transactions” and facilitating “broader acceptance of stablecoins,” per its June filing.
Final Balance: Erebor’s focus on frontier industries like AI, crypto, and defense isn’t surprising, given the background (and sources of wealth) of its founders — all areas currently flooded with investment. That should give the bank ample cash to fill the vaults… or at least plenty of 1s and 0s on the bank’s mainframe, considering its focus on stablecoins.
Stablecoins — cryptos typically tied to fiat currencies — are less volatile than cryptocurrencies like Bitcoin and Ethereum, while still providing the upside of blockchain technology. But their use could also cause several disruptions to the broader economy (the whole Silicon Valley ethos in a nutshell).
Prediction: Considering the deepening ties between the White House and Silicon Valley, Erebor could become the go-to stablecoin processor for the government.
Together with TeenVoice
Stay In Sync With Gen Z
With Gen Z, guesswork won’t cut it — you need real, up-to-date insights to drive your brand campaigns.
That’s what TeenVoice’s Pulse Check is all about. This amazing tool allows you to connect directly with teen opinions, providing your brand with honest feedback before rolling out your next big thing.
How does it work?
Receive 50 genuine teen responses within hours.
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Skip the assumptions and stay ahead of the curve.
UNO Comes To A City Near You
Mattel is pulling out all the stops for its UNO brand, launching a new experiential concept dubbed the UNO Social Club across the country.
The Big Play: Mattel wants UNO to be more than just a card game… it wants it to be a lifestyle brand that connects young people IRL. While that’s a tough hand to play (this is UNO we’re talking about), it shows how young people — worn out by COVID isolation and digital displacement — are seeking ways to connect with their community physically.
Behind the Cards: UNO is not coming to all casinos… but it is coming to one.
UNO Social Club is a real-life version of the game, playable at bars and clubs in five major cities.
Each Social Club will feature a dedicated UNO host, multiple versions of the game (like UNO Show ‘Em No Mercy and UNO Teams) played tournament-style, special décor, and merch giveaways.
The first Social Club will take place at the Palms Casino Resort in Las Vegas this weekend — yes, UNO now joins the ranks of Blackjack and Texas Hold ‘Em.
Last Move: Although this may seem a little funny, UNO is kind of a big deal. According to Fast Company, UNO was the top-selling traditional game during the pandemic. As Gen Z ventures outdoors (read: out of their house or apartment) and into the wild (read: literally anywhere else), a UNO Social Club could actually be pretty appealing. There’s a reason why the tabletop games market is expected to grow from $19.5 billion to $34.1 billion by 2030.
Guessing Game: With Gen Z drinking significantly less than previous generations, wholesome, gamified events like UNO Social Club could become the go-to night out activity.
Together with The Hustle
Get Your Daily Dose Of Knowledge With The Hustle
If you’re like most people, keeping up with the world of business and tech can feel like a full-time job.
It doesn’t have to be if you read The Hustle — a daily newsletter that curates the biggest stories on business growth, cultural trends, and tech innovations.
The free, five-minute daily read ditches the negativity and doubles down on the insights, so you can be the most knowledgeable person at your next Zoom meeting.
DEEP DIVES
Read: The NYT profiles filmmaker Ari Aster ahead of the release of his likely anxiety-inducing new A24 movie, Eddington.
Listen: Hard Fork chats with tech power player and influential investor Peter Thiel, who believes we’re living in an era of “technological stagnation.”
Watch: Business Insider explores how a new restaurant in Dubai, Woohoo, had an AI chef develop its menu.
Would you consider opening any type of account (personal or business) at a newly chartered bank?
66.3% of you voted Yes in yesterday’s poll: Are you interested in seeing Christopher Nolan’s take on The Odyssey?
“I studied ancient history for three years in college — I’d love to see a good take on The Odyssey (as I’ve read a bit in ancient Greek).”
“Movies like this are extremely interesting as they provide a look into a culture/time period that most do not know about, especially since they are no longer required reading in schools.”
“I don’t really care for Christopher Nolan’s work in general. Too long. Too gritty. Too self-serious. And bringing that design style to The Odyssey (which is notoriously a slog) seems like a recipe for disaster. Did we learn nothing from Napoleon? No more four-hour movies!”
Let’s keep the conversation going. Join our Poll Of The Day newsletter, so your opinions can shine. Discover how your views line up with your peers’, check out cool insights, and have some fun. It’s data with personality.
QUICK HITS
→ Entertainment / Media
🎮 Ubisoft has named Christophe Derennes and Charlie Guillemot as co-CEOs of its subsidiary focused on its biggest franchises.
🍿 Ticket sales for premium 4DX and ScreenX showings jumped 47% over the past year.
📕 Scholastic, the bookseller beloved by millennials, has acquired 9 Story Media Group to create YouTube content based on its IP.
→ Technology
🤖 Nvidia has reportedly been granted the green light to sell cutting-edge AI chips to Chinese customers.
👓 ByteDance is preparing to launch a VR headset via its in-house Pico division.
☀️ Jack Dorsey is vibe coding again — this time building an app that tracks users’ sun exposure and Vitamin D levels.
→ Transportation
🚗 Lyft created a handy guide to see if it’s more economical to drive to 15 major airports or take a Lyft rideshare.
🚙 Uber and Baidu are teaming up on an autonomous rideshare service for cities outside of the US and China.
🚕 Waymo could soon be coming to the US capital if the city council approves a new bill.
Let us know how we are doing...
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Today’s email was written by David Vendrell.
Edited by Nick Comney. Copy edited by Kait Cunniff.
Published by Darline Salazar.