PLUS: Disney vs. Netflix, and wild digits from around the web.
If you've ever felt pressure from your parents to have a baby, just know it could be worse. A couple in the Indian state of Uttarakhand is suing their son and his wife to the tune of $650k if they don't birth them a grandchild within the year.
In today's email:
Co-living: Why homeowners are renting out their rooms.
Chart: Disney will beat Netflix, but it has a problem.
Digits: Coldplay, diapers, hump day, and more.
Around the web: The perfect chocolate, library vandals, a very cute zoo birth, and more cool internet finds.
🎧 On the go? Listen to today's quick podcast to hear Jacob discuss generational trends in the housing market, eBay terrorists, record-breaking CEO pays, a long overdue Peloton rower, and more.
The big idea
The rise of live-in landlords, explained
As home prices and mortgage rates continue to climb, new homeowners are embracing a skill learned by many in kindergarten — sharing.
More Americans are renting out rooms in their own homes to fund mortgage expenses and recoup cash, according to Bloomberg.
Homesharing…
… is a way for younger Americans to break into a housing market that's experiencing a wee bit of a supply issue. According to Freddie Mac, the US is short ~3.8m housing units, which has greatly impacted prices.
In 2021:
Home prices rose by 19%, and are expected to rise ~6% this year
80% of metro areas saw home prices increase 10% or more
As costs rise, the number of buyers who would consider renting out a portion of their home has jumped from 24% in 2019 to 31% in 2021.
But it differs by generation
While 67% of millennials are open to sharing their homes in exchange for cash, that number drops to 57% for Gen Z and 34% for baby boomers.
This is partly out of necessity:
Millennials have 20% less wealth than their parents did at the same age.
The average price of a home today is ~$328k, compared to the ~$216k boomers spent in 1989, adjusted for inflation.
Not everyone is in on sharing
Shawnee, Kansas — a suburb of Kansas City — essentially banned co-living last month, making it illegal to lease to four or more unrelated people.
The ordinance was created to avoid situations where real estate investors would purchase a property and reconfigure the rooms to allow for more renters. But critics say the ban is both classist and racist, making it harder for the city's most vulnerable residents to find affordable housing.
Perhaps Shawnee City Council needs to be reminded of a classic kindergarten axiom: sharing is caring.
SNIPPETS
On pause: Elon Musk paused his Twitter purchase as he gathers information about how many spam bots are on the platform. Musk has said he aims to remove all of Twitter's spam and fake accounts.
Just keep rowing: Peloton revealed a connected rower. The new hardware — which some say is long overdue — will complement the company's bike and treadmill offerings.
Resume boost: Bill Simmons was promoted to a new role leading Spotify's global sports strategy. The podcaster will continue to head The Ringer, which Spotify purchased for ~$200m in 2020.
Sunday scaries: Ever find yourself fighting off an impending sense of doom while trying to enjoy a lazy Sunday? Fear not, The Hustle rounded up expert tips for fending them off and reclaiming your weekend.
Moo: Ben & Jerry's new pilot program uses feed additives to cut down cow burps and reduce greenhouse emissions. Cow burps make up 39% of livestock emissions. #ecommerce-retail
#ecommerce-retail
Ikeaannounced it will soon sell home solar panels via a partnership with Sweden's SunPower. They'll drop first in California this fall. #clean-energy
#clean-energy
Now you see me: Could invisibility cloaks be a thing? Enjoy this dive into the tech that could make them a reality. #emerging-tech
#emerging-tech
The Linux Foundation and Open Source Security Foundation have pledged $150m+ toward a 10-step plan to make open-source software more secure against cyberattacks. #privacy
#privacy
Netflix is exploring livestreaming options, which it could use for comedy stand-up specials and reality TV shows where viewers vote on contestants. #big-tech
Netflix lost 200k subs last quarter and says it's gonna lose 2m more in Q2.
Disney, despite admitting that growth could slow, just added 7.9m subs and projects to have 230m-260m by 2024.
But…
Disney's ARPU (pronounced "our poo" and standing for "average revenue per user") frankly looks like poo next to Netflix's, at $6.32 vs. $14.91 in the US.
You also have to consider that 50m+ Disney+ subs live in India, where they pay $0.76/mo. on average.
Looking ahead
Netflix still holds streaming's crown, but its tech company "it" factor is no longer a marked differentiator, and it'll have to solve for growth in ways other than game shows about whether something is cake.
As for Disney, striving for profits while spending on growth is a noble task, especially when investors care about streaming profits more than ever.
The good news: The new Doctor Strange movie passed $688m+ in box office sales, amusement park visitors are spending 40% more than in 2019, and a $500m ride is about to open in Disney World.
And those are areas where Netflix simply can't compete.
Free Resource
An introduction to coding in Python
Whatever beautiful code looks like is lost on most of us.
But don't let that stop you. Though Python launched in the early 1990s, in recent years it has become the go-to programming language for beginner software developers thanks to its "simplicity" and versatility.
If you're interested in learning the robust language used by data analysts, game developers, full-stack engineers, and cloud computing experts — check out HubSpot's crisp Introduction to Python.
Featured in the free ebook (PDF):
What is Python?
Use cases across industries
Methods and functions glossary
Coding standards and best practices
Overview of advanced Python features
Links to convenient education resources
Like research publications, frameworks, and a browser-based code editor.
1) Coldplay's latest tour may be the best deal in live music at an average of $77.80 per ticket — no other act in the top 10 is charging under $100. Amid rising prices for everything, it's actually less than what Coldplay charged for tickets 5-6 years ago.
2) Redbox Entertainment, operator of 38k DVD kiosks, has seen its revenue dive 50%+ during the pandemic. Now it has a surprising new owner: Chicken Soup for the Soul Entertainment (CSSE), which bought the company for $375m. CSSE owns its namesake books along with Crackle, an ad-supported streaming service.
3) With companies rolling out hybrid workweeks, Wednesday has emerged as the most popular day to return to the office. Forty-six percent of workers went to the office on Wednesdays in March, compared to 35% for Mondays.
4) MicroStrategy, led by bitcoin bull Michael Saylor, took a $330m paper loss on its bitcoin holdings last week. The company holds 129,218 bitcoins, purchased at an average price of $30.7k.
5) Goop, Gwyneth Paltrow's lifestyle brand, released luxury diapers lined with virgin alpaca wool and fastened with amber gemstones for $120 per pack. After drawing outrage, Paltrow admitted the move was a publicity stunt to draw attention to high diaper taxes. The diapers are hardly Goop's wildest product — that title goes to this candle.
AROUND THE WEB
🎥 On this day: In 1929, the first Academy Awards ceremony was held at the Roosevelt Hotel in Hollywood. Best Picture went to Wings, a silent film about two WWI pilots from the same small town.
🍫 That's interesting: Dutch scientists are attempting to 3D print the best chocolate. It turns out people enjoy a spiral shape for maximum crunch.
🎧 Podcast: Sixty-four percent of people would vandalize a library book. Would you? The latest episode of Nudge is all about the science of asking people to do things.
💻 Useful:Switchboard is a tool for remotely working side-by-side in a shared workspace.
🥰 Aww: This little cutie is the first spotted fanaloka born in the US. Though native to Madagascar, he was born and is being cared for at the Nashville Zoo.
