Transcript 0:00 Hey, we're Nick and Jack, hosts of The Best One Yet. Behind every episode, there's research, email, spreadsheets, and our shared Google Doc, the Headline Hammer. 0:07 With Google Workspace with Gemini, Google's AI is built right into the premium versions of tools we already use, like Gmail, Docs, and Sheets. No new tools or extra logins, just personalized AI for the way we work. 0:18 That means less time on the work around the work, and more time finding the stories worth talking about. Get AI tools for work. Upgrade to Google Workspace with Gemini at goo.gle/workspacewithgemini. 0:30 That's goo.gle/workspacewithgemini. [musical jingle] Wheelhouse DNA. [instrumental music] Hi, everyone. 0:41 My name is Bolade Kolade, and welcome to The Future Forecast, a podcast where we explore the intersection between business, technology, and entertainment. 0:50 If you don't know me, I'm the co-founder and president of The Future Party, which is a community-based media company for creative professionals. 0:56 We have a daily newsletter where we talk about culture and technology, and we host a ton of different events across the country. 1:02 And I'm the co-founder and CEO of Crosscix Studios, a Gen Z media company built by Gen Z, for Gen Z. 1:07 At The Future Party, we are so proud of the business and the community we've built, so we had the idea to create this show to dissect and explain some of the most interesting stories. Today, we're looking ahead. 1:18 We're gonna talk about how some of the biggest corporations today are reinventing the company town, the concept of nowstalgia and how it affects consumer behavior, and how studios are sending their content back to Netflix. 1:30 But first, let's catch up. Let's catch up indeed. Dude, you just flew. We, we literally spoke on the phone last night and now you're in London. Like, what's going on? I'm just, I'm just a world traveler, Bolade. 1:43 I just, you know, uh, just, just, you know, for what it's worth, this is my life and I just do these things that my life requires. Don't let me get away with that. You gotta sass me on that, you know? I mean- Come on. 1:54 You can't, like, let me, like, like, act like a total pompous fool. It is, it is kind of your life. You're always... We're both always traveling. I mean, I'm in Florida right now. 2:02 Isn't it cool how, like, I, I'm gonna sound a little cheesy, but I feel like- Yeah... every other day I'm just like, "Dang, technology is so cool." 2:10 Like, I would hate to be, to have been born in any other time than now other than maybe the future, but, like, when, when else in the history of the world could we just talk to each other like this and travel and record a podcast? 2:23 You're, I mean, you're so right. [electronic sound] One of the topics I wanna talk about is this idea of the company town, right? The village center, and the reinvention that's happening within it. So 2:36 essentially, these technology companies are creating their own towns, and, uh, a lot of people are saying this is in, in response to soaring real estate prices and a push to get workers back into the office. 2:49 Uh, but some of the biggest corporations are literally building communities and towns. For example, Google is investing in two communities in Mountain View, California. 3:01 Uh, Meta is creating a community called Willow Village in Menlo Park. Uh, Disney is building 1,400 units in Kissimmee, Florida, near Disney World. By the way, I'm in Kissimmee right now. Uh, and some more real quick. 3:16 Elon, uh, this one I, I actually think is really fascinating, is creating a community outside of Austin, Texas for employees of SpaceX, Tesla, and The Boring Co. in Snail Brook, Texas. 3:28 NBC Universal is doing some stuff, blah, blah, blah. It's... What's happening? Quick question. Quick question. Yeah. Of the towns that you've named thus far- Mm-hmm... 3:39 it sounds like I already know the one, 'cause you kind of hinted to it. Where would you stay? Like, if you had to, like, do a stint, where are you staying? 3:46 I think Austin, A, just because I have no intention of living in the Bay Area. Not that I am averse to the Bay Area, it's just not my thing. 3:55 [laughs] Florida- Yeah, well, well, well, why, why, why are you giving hate to the, to Menlo Park? It's just not- You, like, you chuckled. There was, like, an adverse chuckle to, like, [laughs] 4:04 "I, I, I have no idea of ever, ever staying in San Francisco or, or..." Like, what, what, you don't like people saying hella tight? Like, like, what- [laughs]... you have, you have a problem against hecka? 4:15 Like, what are you, what are you- [laughs]... what are you saying? I don't wanna go hyphy. Uh- Yeah, yeah... honestly, I don't know. It's just not my vibe. Yeah, I've always honestly liked the idea of Austin. 4:26 It's always felt like a big creative city meets small town, and so I just, I more connect to that over SF. I vibe with what Elon's doing. I just feel like it, it sounds cool. 4:39 I feel like the type of people that would be in that community would probably be, like, really smart, really intellectual, really innovative. 4:47 Probably pushing the limits just by being in the city, which is what I find fascinating about this concept, right? 'Cause you're not at work, but are you? Even after how everything's been handled with Twitter? 5:01 I think- Might be scary... look- Might be out of a job. You know, I'm just, just throwing it out there. I know we're going off topic, but just throwing it out there. 5:08 It could be, uh, you know, the first, first day you move your entire family and next thing you know f- one day you're in, next day you're out. L- I, I do think with him in particular there's a cult of personality. Yeah. 5:20 But I, I don't think he's going anywhere, you know what I mean? Like- No... 5:25 uh, the, maybe he'll get a slap on the wrist for Twitter, maybe he'll lose Twitter at some point, but the man is pushing the limits of humanity and I just really think that he has a solid, strong fan base and user base. 5:43 You know, I think if he really did something wrong and people started getting rid of their Teslas in the same way that, you know, everyone's hiding their Yeezys, then, then maybe that's something. 5:53 But I, I think he has a little bit more sense than that, hopefully. For you, the risk is worth the reward in working in a camp? Like that or, or in like a town under him. Yeah? 6:05 I'm gonna answer this like a politician and change the subject, but I think what's more fascinating is this idea in general. Like, would, would I ever do this? 6:18 Whether it's Elon or Zuck, like, would I ever move to a community where I, I lived with my colleagues? I might throw that to you. Like, would you ever do that? Yeah. Yeah. Really? 6:34 Um, it's kinda shitty to say, but it's just how I feel about it. What is the balance between the sacrifice of personal and work? And there's obviously those two things blend, but I think that when working on a project, 6:50 I'm not suggesting that one needs to be all in, but I think that there's a hard push, pull between the balance of those two worlds. And I think history shows that time and time again, a lot of those that have created 7:07 such great advancements submerge themselves in the work. And you ha- you know, it's the best way to uphold accountability. We're a work from home type place, but I will say that when I think about 7:18 the advances that happen, it's either someone solo alone off or everyone amongst themselves, all han- uh, like all hands on deck, heads down on a project for months on end. 7:29 So you feel like there's more of an opportunity for innovation? I think that when you have people focused on a goal and their sole focus is said goal, 7:38 your, your why, you're waking up specifically to focus on the task without distraction. Yeah. And I don't wanna suggest that personal is distraction. It's not. That is so far from what I actually intend or, or- Yeah... 7:53 actually mean, but that is, that is time away from the 10,000 hours of you being a master, right? That's 10,000 hours of you moving away, so, 8:05 um- That's so, so interesting that you say that, you know, 'cause a lot of what people are saying is the benefit of why companies would do this or, or, or the benefit even to the employees feel very surface level, right? 8:22 Things like being close to where you work and there's a lack of a commute. 8:28 Uh, and for corporations, they essentially are getting paid back because they're recouping the salaries of their employees from the rent that they're paying. 8:36 There's a lack of inventory in the housing market, so this makes sense. I resonate a lot more with what you're saying. From a company perspective, it makes complete sense, right? 8:48 Get brilliant people not to just do work together, but to do life together, and you might find more inspiration, a better quality of life, so on and so forth. 9:00 The question is, is that enough incentive for the employee, for the worker? Well, and I think, I think something to factor in is specifically the actual employee and not the family member, right? I think that what... 9:16 You know, we, we talked about Oppenheimer a bit offline, but I think that's something that, that it touches on but doesn't truly, really engulf or cover. People can be the heads of great movements, uh, or are, are... 9:31 You can be an employee of a company like Boring or Meta, you, at, at a very high level, but your family, your wife, husband, whomever, your support system that is there around you is very much sacrificing, 9:49 debatably, a signif- They are making a sacrifice to be with you and be on your journey and support you, uh, and that's a very hard struggle to think about. This isn't the first time that this is happening, right? 10:04 In the past- Yeah... company towns were typically created by big industries. Think the coal, you know, mines, metal mines, lumber, et cetera, and that's an- Right... 10:16 example actually of this sort of idea of building whole communities around an industry, and I, I think it will continue to happen. 10:29 But one thing I've, I've honestly always thought of is this idea that one day corporations will become countries. And is this alluding to that? Maybe, maybe not. 10:41 And what I mean by that is these corporations are becoming so powerful, their revenue is more than the GDP of countries, right? They are buying land. 10:55 Eventually, they will probably all have robotic workforces, you know, and some are building defense capabilities. And, and i- is it inevitable that all, like every major tech company will just build a city? 11:11 S- uh, if I can piggyback on that, you obviously need healthy boundaries, but I'm very intrigued by the idea of working head down. Like a t- like a film set. 11:22 If you think about it, a film set is a perfect example of a campus, right? Yeah. You move to Atlanta, the whole crowd goes. You have three months. You're solely head down working on that project. 11:32 Some people move their family there to be there while on set, et cetera. But it's not typically often the case, and so I just... 11:41 I think there's something to be said about creating art or work where you're doing a stint specifically to focus on crafting and creating that specific thing. Have you ever heard of the term nowstalgia before? 11:55 I've heard of a nostal- no- now you have me doing it. Nostalgia. [laughs] But what's, what... I, I don't, actually, I'm not familiar with the concept. What's nowstalgia? Nowstalgia. Okay, so- 12:05 Uh, nowstalgia is essentially a new term. 12:09 Uh, it was coined by this writer who worked at the BBC to describe a recent phenomenon where our culture, or culture in general, and societies move so fast that people start to miss things the moment they can no longer do them or the moment they're no longer available. 12:29 Right? So nostalgia, you know, traditionally how we know it, we take part in things that honestly we may have never even experienced, right? Like '70s parties. 12:41 And what nowstalgia's advocating for essentially is that amount of time, instead of decades, it's now a year or two, maybe [laughs] maybe even sooner. 12:54 Essentially the speeding up of that recycled trend where you go, "Oh, wow, remember when?" Even though that thing might have been like two years ago as opposed to 15 years ago. 13:05 Dude, I wonder if that's happening now more than ever just because, you said it just specifically because of technology, but people I think are m- so much more self-reflective and thinking about the past versus focusing on the future. 13:17 So you're constantly being distracted by a way of your former self. Yeah. I've known the feeling of nostalgia to actually be a painful feeling, right? 13:31 If you really dive into the idea of nostalgia, it's I want something that I used to have. Yeah. I remember it, and I'm so hopeful. I wish it were here. That's not like necessarily a good feeling. That's pain. 13:47 That's loss, right? And you're, you're sort of feeling it in remembrance of that thing. 13:54 And so when I think of what you're bringing up regarding technology and social and being more contemplative, I think it's a grasp at a feeling, uh, at the end of the day. 14:07 Like boiling it down to its most basic point is people are grasping for a feeling that they once had, and they're doing it more quickly because they want those good feelings as much as possible. 14:22 And I think we're probably seeing a lot of it, yes, because of the proliferation of technology, but I think it's the proliferation of communication and social media. 14:31 We're at a point in our lives, in the, in the history of humanity where you can find whatever your heart is looking for. 14:41 In any pocket of the internet, you can join sewing communities, you can join running clubs, you can join '80s groups and really weird niche whatever things. Yeah. You can find anything. 14:57 And so I think people are going online realistically, and they're just finding what their heart is drawn to, whether they experienced it or they're looking at other people who had experienced those things and wanting those things again. 15:15 Obviously, that's why Barbie did so well, right? When I think of nostalgia- Yep... 15:20 and I think of how it plays into one's life, if I were to parallel Barbie to Teenage Mutant Ninja Turtles, which ironically enough did not do as well, right, did not do at all any nearly as well. 15:35 Teenage Mu- Ninja Turtles makes me go, "Oh man, this is what I was like when I was a kid. I want to pass this down to my son. 15:42 I want to g- live vicariously through my, my, my child and have them have the same love that I had or what I think I had for this thing." I'm actually really happy you, you brought up Barbie. 15:55 That whole movie is literally built on nostalgia. Like, that's, you know, basically- Yeah... the, the storyline. The biggest proponents of nowstalgia have actually already been around for so long, right? 16:06 The, the funny thing I think about nos- nowstalgia is it's not just people clamoring for these things, it's these corporations understanding that they can make money off of these things. Yeah. 16:16 So I actually feel like it's the corporations that are, like, saying, "Hey, we knew this was a hit, so we're gonna bring it back because something magical about this thing worked, and so we're gonna push it." 16:29 And over time, the studios and even musi- like, the record labels are like, "Man, we need to make more money quicker. Let's just do it again. Let's do Transformers 7. Let's do The Hobbit," right? 16:42 "Let's do Harry Potter's spinoff series." 16:45 And so I think, you know, nowstalgia is both this clamoring of remembrance from a consumer POV, but it's also I think big, big brother, big corporations understanding that they can make a lot of money off of what people liked in the past. 17:03 [upbeat jingle] Hey, we're Nick and Jack, hosts of The Best One Yet. Behind every episode, there's research, emails, spreadsheets, and our shared Google Doc, the Headline Hammer. 17:14 With Google Workspace with Gemini, Google's AI is built right into the premium versions of tools we already use, like Gmail, Docs, and Sheets. No new tools or extra logins, just personalized AI for the way we work. 17:26 That means less time on the work around the work and more time finding the stories worth talking about. Get AI tools for work. Upgrade to Google Workspace with Gemini at goo.gle/workspacewithgemini. 17:37 That's goo.gle/workspacewithgemini. [upbeat jingle] There's been some interesting deal-making lately that leads me to believe that Netflix has won the streaming wars. 17:53 And- Whoa, is this a hot take right now? Like, you're jumping the gun? Like, what is it? You're m- just, is that how this is gonna go? 17:59 You're just gonna start making your hot takes topics before we even get to the hot takes? This is like a warm take, right? [laughs] Like, it's, it's not, it's not, like, fully blown hot. I think, I think it's there. 18:09 It's objective. Netflix is extremely- Yeah... profitable. It's the most profitable streaming platform. And right now, as it stands, the movie studios are licensing their content To Netflix. 18:23 Well, let's, let's do, like, a brief history, a SparkNote history. Netflix came on the scene. They started as DVDs. Then they started licensing content. 18:32 The studios loved it because they were essentially making money and having a different window beyond DVDs- Yeah... or VHS, right? And eventually the studios were like, "Well, we need our own streaming platforms. 18:46 Why are we giving it all to Netflix? Netflix is becoming too powerful." And that's when you got all the pluses, right? Disney+ and Apple TV+ and Hulu, et cetera, et cetera. And they wanted to create closed systems now. 19:01 So Apple TV+, Hulu+, the aforementioned streaming platforms now predominantly, not completely, stopped licensing their content because they wanted to build up their own pipes. 19:13 And now they went backwards, and so now they are just straight up being like, "Have my, my whole old library." And one of the biggest ones is, is, is, uh, Warner Brothers. 19:24 Like, a lot of old DC superhero films are now on Netflix, and so that's what leads me to think that Netflix has won. I think there's an argument to be made that the licensing of properties like DC, people could say are 19:43 in a way cheating the system to, like, continue staying at the top of pop culture. Obviously very prominent and phenomenal IPs, so it does help their IP get out there and filter it back to them. 19:56 I'm not trying to disagree with you, but I'm, I'm more throwing out the question. I'm, I'm curious if Netflix is now too big to fail in the sense of they're big that they... 20:07 They're so big that now because everyone goes onto the platform is looking to watch something new, and you hear about, like, the Netflix effect of getting on the platform and there not, like, being anything good to watch. 20:18 Because they can't pump out as fast 'cause they wanna keep quality, that they're forced to license to keep people on the platform to feel this feeling of new on Netflix. 20:30 And I'm curious how much money has to go into that. Where are they breaking even just to keep i- re, uh, retention of eyeballs? Well, I think, I think everyone's backs are being scratched right now. Yeah. 20:42 I think Netflix needs the content, and these studio partners need Netflix. They have to continually keep the attention. 20:52 Who knew at the start of this year that Suits would basically be Netflix's top-performing piece of content? I remember when Suits came out years ago, no one was watching that. It was on USA, you know what I mean? Yeah. 21:05 Don't get me wrong. Yeah. It has, like, a, a rabid fan base, but there is that Netflix effect that takes certain things and just you throw it into the algorithm and you get much, much more. 21:17 And so they, with content they didn't even have to make, they more or less kept eyeballs on the whole summer. But they're all struggling. They're all in debt, right? We talked about Shari Redstone- Yeah... 21:30 figuring out how to, how to sell Paramount. Zaslav over at Max and Warner Discovery is really trying to take off the debt off their balance sheet. 21:40 So I think it is a mutual benefit to prop Netflix up right now, but I think they're gonna run away with it because they're just gonna keep getting paid. 21:52 I truly believe that Apple is winning at the streaming wars, and, and I'll say it specifically. You'll say, "Chris, what are you talking about? They barely put content out all the time. Like, why?" 22:03 I'm like, "No, no, no, no. It's not about the output of content, Boye." I would argue that they offer every single streaming platform to jump by way of Apple TV. 22:17 That makes you the mega media winner of all 'cause you're not actually having to put out any of the content. Everyone else is paying for it. You're just giving them access to your- Yeah... 22:28 to your window and then putting out premium quality whenever you choose. You know we have to do it. It's hot take time. [horn blows] All right. 22:40 Hot take time, it's that time where each week we make a prediction about something in culture, uh, that we look at, dissect, hopefully we win, and we go over. We like to see if we win our predictions. So 22:55 Chris, I must ask, what is your hot take? I'm so grateful that you asked. I actually think 2024 is gonna have a spike in crypto transactions. There's been a lot of h- discussion around it here in 2023, 23:14 uh, around it coming to a lull, and I'm just seeing so much more. Again, to be very clear that I'm not a professional. This is not me telling anyone that listens to our podcast sp- to invest in cryptocurrency. 23:27 This is not financial advice. 23:28 [laughs] What I am, what I am truly saying is that from what I see on the, in the media and what I'm seeing by way of social media for that matter, I do think that there's going to be a continued spike specifically, a- and a, and a hard push given that we're moving into a new election, moving into a, a potential changing of the guard, people questioning our financial stability and where we stand. 23:54 And usually in those moments of fear-mongering or, or, or social discussion, you'll see a high level of transaction specifically in, in crypto because of the belief of, of what crypto stands for. 24:08 I think Apple will acquire Snapchat. I hate you so much. [laughs] Like, stop with these prolific just cool takes right now. Like, I'm playing to win. [laughs] Um, I'm playing to inspire, Chris. Um- Yeah, you by... 24:26 You really are. [laughs] God. If you think about the evolution of iMessage- It's evolved, and it kind of feels very social right now. 24:36 And I've always wondered, does Apple have like a secret social media play in their back pocket? Because iMessage is basically social media, in my opinion, right? Especially when you think of WhatsApp, Telegram, right? 24:51 All these messaging platforms that also feel like social media. iMessage has got to be the biggest of them all, and they're big on privacy. So that's, that's one, right? They're always innovating. 25:02 Snapchat, I think, might have a limited amount of time of engagement, potentially. One, TikTok is just crushing, right? 25:13 I do know Snapchat, I believe, surpassed maybe it was like Instagram or some other platform because young people still like to use Snapchat as a communication device, right? Yeah. Tim Cook's succession, right? 25:28 At some point, Tim will need to hand over the reins, and I actually think someone like Evan Spiegel would be the perfect person to take over the reins. You think Apple would allow that, though? Allow what? 25:42 Spiegel to take it over? Yeah. Well, I think, I think the idea is you acquire him now, integrate him in, let him watch Tim Cook for several years, and eventually have the opportunity to take over. 25:57 And then you get an innovator at the top of the helm, similar to a Steve Jobs. Chris, I always love jamming even when we're both halfway across the world from each other. 26:08 Uh, everyone listening, we hope you tune in next week. Subscribe wherever you get your podcasts. Rate and review. Uh, we know you're listening. We know you love it. 26:17 So if you could just show some love, more people can listen to Chris and I rag on each other every week. Just kidding. More people can listen to, uh, this conversation. So we'll catch you next week. Peace. 26:31 The Future Forecast is produced by Wheelhouse DNA for Acast. Our executive producers are me, Boye Kolade, along with Fanny Baudry, Cassie Berman, and Leah Sutherland. Our audio producer is Chiara Noni. 26:44 Our audio engineer is Matthew Blocka. Our editor is Nick Kursumi. The podcast is hosted by yours truly, Boye Kolade and Chris Sawtelle. Thanks for listening, and see you next time. 26:55 [instrumental music] Hey, we're Nick and Jack, hosts of The Best One Yet. Behind every episode, there's research, emails, spreadsheets, and our shared Google Doc, the Headline Hammer. 27:07 With Google Workspace with Gemini, Google's AI is built right into the premium versions of tools we already use, like Gmail, Docs, and Sheets. No new tools or extra logins, just personalized AI for the way we work. 27:19 That means less time on the work around the work, and more time finding the stories worth talking about. Get AI tools for work. Upgrade to Google Workspace with Gemini at goo.gle/workspacewithgemini. 27:30 That's goo.gle/workspacewithgemini. This show is brought to you by The Future Party and Crosstalk Studios, produced by Chris Sawtelle, Boye Kolade, and Paul York. 27:42 Special shout-out to our production team, Araceli Rubalcava, Max Goolen, Shannon Klein, and Eli Difior.
