enRICHed: Volume 42

Written By Rich BFF

Shakshuka-Gate

Shockingly, I have never watched the Real Housewives. But for some reason I have been sucked into the Bravo universe by the one and only Jenna Lyons, who has joined the new cast of the Real Housewives of New York. There is something to be said about watching the lives of these women, who are beyond ridiculous but so entertaining. They are loud, overdressed, absolutely hilarious and can argue over anything. Yet, each episode has a little reminder of the women behind the character they are playing, as they slowly share bits and pieces of their lives before the wealth. Even Jenna, who to me exudes cool, talks each episode about how awkward she is in large groups of women. Very vulnerable! Even when she’s wearing a $3,000 coat!

Is it crazy to say that RHONY is a good reminder of not making assumptions about people until you get to know them? Yes. Absolutely. But we’re going to do it anyways! Happy Sunday!

Death of the Hobby

  • Hobbies, activities done simply because you like doing them, were once a way we spent our leisure time. But in recent years, people have spun hobbies into side hustles. In a recent article covering this phenomenon, Insider claimed that hobbies are dead.

  • As the article says, “A hobby is no longer a hobby when deadlines are imposed and it requires you to file your own taxes — that's a job.”

  • In an era where many young people are feeling overwhelmed by poor mental health, hobbies could be a way to reduce stress via a creative outlet. Instead, hustle culture has turned voluntary activities that used to spark joy into stressful to-do list items.

  • HYCU; 49% of people under 35 have a side hustle outside of their full-time job. Sure, we love the entrepreneurial spirit, but also hesitate at the fact that so many of us have to work second jobs in order to afford our lives. People say that if you love your job, you won’t work a day in your life - but this article says differently: if what you love becomes your job, there is a chance you won’t love it anymore.

Overstock X Bed Beth & Beyond

  • Overstock.com (who you might not have heard of) has bought the intellectual property of Bed Bath & Beyond (who you definitely have heard of). The IP, sold for $21.5 million cash, included their website, mobile app and name. If you try to visit Overstock.com you will now be redirected to BBB’s website.

  • BBB’s CEO was interviewed about the sale, saying that it combines Overstock’s more modernized business model with the name recognition of their brand. He seemed optimistic about the future ahead.

  • Overstock will not reinstate any physical stores, and will instead focus on the e-commerce arm of the business. The product mix will shift more towards furniture and home, away from smaller, low-cost items like laundry detergent and K-Cups.

  • HYCU; BBB has been struggling for bankruptcy for months, so this is a win for the company as well as the e-commerce landscape overall. However, investors will be watching to see if the brand is strong enough to compete with Amazon. Without those infamous coupons, will people still opt to shop Bed Bath & Beyond?

Pay to Resy

  • If you are a city dweller, you are aware it has become impossible to walk into a popular restaurant without a reservation. With the rise of social media, one entree can go viral and a restaurant will be booked out for months.

  • Apparently though, a lack of reservations can be caused by bots or scalpers, which means no-shows and money lost. To circumvent these issues, popular restaurants are now starting to charge for skipping reservations.

  • Reservations apps like Resy now require a form of payment, that will be charged anywhere between $25-50 if you don’t show up. Some places are also now taking that money as a prepaid tab, to be put towards your bill at the end of the night.

  • HYCU; you may not realize the impact your absence makes on a restaurant that is operating at already slim margins. But with 28% of Americans occasionally bailing on dinner each year, these fees create a level of accountability and respect for patrons. And it helps everyone else get a seat at a very hard to get table!

  • PS: for our NYC BFFs, there is an app called resX where you can snag popular reservations from people trying to avoid these no-show fees. If you have a flexible schedule, it’s a great way to check some meals off of your bucket list (and not have to do so at 10 PM on a Monday).

Rich BFF
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