No Squeeze On The Wealthy

PRESENTED BY VINTAGE

Happy Tuesday, TFP. If you’ve grown tired of listening to “lofi hip hop radio beats to relax/study to” while you work, here’s an alternative: “Music To Refine To.” Yes, the team making Severance has recruited ODEZA to remix the show’s soundtrack into a hypnotic eight-hour long stream. Hopefully, you won’t find numbers scary after listening to it.

The top 10% of earners in the US — households that make $250,000 or more annually — are powering the economy with increased spending… while the bottom 80% of earners cut back to keep pace with inflation and the rising cost of living.

Why It Hits: The US is increasingly becoming a country of haves and have nots, as the middle class shrinks. That divide is already having immense implications for the economy, politics, and society at large.

Behind the Purchases: A study by Moody’s Analytics found that the wealthy have no reason to pinch pennies.

Checkout: JPMorgan Chase analyst Matthew Boss says there’s an “extreme bifurcation” happening in the US economy. Companies like Delta and Royal Caribbean are reporting growth, as wealthy Americans are increasing their spending on things like luxury goods, premium airline bookings, and cruises. But companies that serve more modest customers — like Kohl’s and Big Lots — are going out of business. That’s reshaping the economy.

But it could all vanish in an instant. If home valuations or stocks start to shrink in value, all that excess spending from the wealthy could go with it.

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The 50th anniversary of Survivor is planning on experimenting with a new format: letting fans vote on the main elements of the game.

The Big Picture: While Survivor remains a hallmark of broadcast TV, the last five years have  consistently seen the show dip below 10 million viewers and continue to decline — a stark difference from its peak of almost 30 million viewers. By switching up the format and getting the fans involved, Survivor is hoping for a resurgence.

Behind the Scenes: What are you voting off the island for Survivor 50: In the Hands of the Fans?

Final Challenge: Survivor 50 is something of a greatest hits version of the show, with the cast being composed of past winners and other fan favorites. Considering the vast age gaps between the contestants, expect the season to play up the generational divides, pitting Gen X against Gen Z and boomers against millennials. It’s the type of buzzy competition that could make Survivor a winner again… and maybe usher in a new era of the show on streaming that will always have a voting element to it.

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86.4% of you voted No in yesterday’s poll: Would you ever buy a genetically modified pet if it met your needs?

“If rabbits were meant to glow in the dark, they would already. I’m tired of humans treating other animals so poorly, like they’re science experiments that don’t deserve kindness. Or like objects without emotions that we can do anything we want to just because we can.”

“A pet is not a substitute for a night light. We need companies to focus on world-changing solutions to major global challenges — yet they’re busy inventing gummy bear-flavored pizza rolls. This glowing pet startup feels like something Veruca Salt would demand to be CEO of.”

“We shouldn’t be changing animals for OUR preferences. People need to realize that some things just aren’t for them, and that’s ok!”

“I mean, we SAY ‘no,’ but most modern pet breeds, particularly purebreds, are already selectively genetically modified beyond natural bounds and typically have the health issues and recidivist traits to prove it.”

“A non-allergenic pet is the only genetically modified pet I’d consider. I’m allergic to both dogs and cats, and we’re limited in the dog breeds we can have and most cats.”

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.

🦸 James Gunn and Peter Safran held a state-of-the-union of DC Films in the run-up to July’s release of Superman.

🎥 Technicolor, a household name in Hollywood production and post-production, is winding down its US operations after hitting financial challenges.

🤡 Fyre Festival is back! It’ll take place in Isla Mujeres, Mexico from May 30th to June 2nd… but no one has signed up to perform.

💰 Apple is committing $500 billion in the US over the next four years by constructing facilities across the country.

🚀 Space startup AstroForge is set to launch its first asteroid-mining mission.

💻 Perplexity teased its own AI-powered web browser, dubbed “Comet.”

📱 TikTok (including its Chinese counterpart Douyin) is the first platform to hit $6 billion in annual in-app purchase revenue.

📸 Yope, a private-group, photo-sharing platform, raised $4.65 million in a seed round led by Goodwater Capital.

👔 LinkedIn is getting its own brand of short-form humor.