The Daily Valet. - 10/12/22, Wednesday

✔️ One Aspect of Life That's Inflation Proof

October 12, 2022

Wednesday, October 12th Edition

Cory Ohlendorf, Editor in Chief of Valet.

How many streaming services do you think you subscribe to? Do you know for sure?

Cory Ohlendorf , Editor ⋯ @coryohlendorf

Today’s Big Story

Is Streaming Immune to Inflation?

Americans really, really love their subscriptions

One of the great modern conveniences of daily life today is the ability to subscribe to the services we deem vital. We really love paying for things on a monthly basis, right? Maybe it feels reassuring and stable, knowing it will always be there for us.

Or perhaps, once we’re subscribed, canceling is just too much of a pain in the ass. Either way, new data from the National Research Group suggests that cutting costs in our current economy hasn’t really extended to people's subscriptions ... yet.

Their survey found that while 44% of consumers are trying to cut back on spending at the grocery store amid ongoing high inflation, only 18% did so with their streaming bills. Among subscriptions in general, NRG found that Amazon Prime is among the least likely to be canceled, trailing cloud storage and music services. Spotify may as well be a necessity.

Roughly two-thirds of consumers said they will have to decrease their spending due to inflation; however, most said they were more likely to cut back on things like dining out, groceries and clothing. “It’s clear that people value their streaming subscriptions more than ever,” said Kerri Norton, executive vice president at the National Research Group told CNBC. In fact, consumers estimate they spend $135 a month and 17.8% of their monthly budget on subscriptions.

Frankly, I’m surprised. Over the last year, it’s been one of the first conversations we’ve had at home—questioning if we’re watching a service enough to make it worth the monthly cost. I dropped Peacock after the Olympics and then switched to Paramount+, only to drop it a few months ago (along with downgrading Hulu to the basic service with ads). I expected most Americans were starting to evaluate the platforms too, considering how the prices continue to go up.

Then again, maybe they haven’t noticed. Since subscriptions are often automatically charged on a debit or credit card, it’s easier for users to lose track of the recurring cost. According to InsideHook, 56% of consumers have taken out a subscription planning to cancel before the free trial ended—and 73% of them have been charged because they forgot to do so. Make a note to audit your streaming services ... what you’re shelling out each month just might surprise you.

↦ FYI: These are the six expenses money experts are cutting back on during inflation.

A Big Potential Change to the Gig Economy

The move would count more workers as employees instead of independent contractors

The Labor Department released a proposal Tuesday to change the way gig workers and independent contractors are treated under U.S. law.

As you probably know, companies are required to provide certain benefits and protections to employees but not to contractors, such as paying a minimum wage, overtime, a portion of a worker's Social Security taxes and contributions to unemployment insurance.

The new rule would create a “multifactor reality test” to assess whether workers are genuinely in business for themselves or if they instead ought to be considered employees. It lowers the bar for that employee classification from the current test, which the Trump administration's Labor Department created.

Yes, the proposal clearly focuses on gig workers like your Lyft driver and DoorDasher. But it would also be beneficial for millions of janitors, home-care and construction workers who, according to NPR, have been negatively impacted by the misclassification for years.

↦ Dig Deeper: Reuters has an explaination on how a U.S. rule on independent contracting will affect both workers and businesses.

An Ugly Court Battle

The war between pickleball and tennis players is escalating—on and off the court

Remember a few months back, when we talked about how pickleball was booming? Well, tennis players are particularly pissed about the paddles encroaching on their territory. Since both sports typically use the same court, the crowding and scheduling troubles has led to interesting issues across America.

In suburban Atlanta, pickleball courts have been vandalized twice in three days. Similarly, oil was spilled all over one California court along with a “profanity-laced note.” In New York, a tennis club launched an anti-pickleball lobbying campaign.

In Denver, one devoted pickleballer was actually arrested for drawing pickleball boundaries on a local tennis court with a permanent marker. (He's out now and back playing.)

So what's the solution? The U.S. Tennis Association issued a slightly snide Statement of Guidance [PDF] on how both pickleball and tennis can be accommodated in cities. USTA's verdict is essentially to build pickleball-specific facilities, but until those are finished, I hope this turf war doesn't get too ugly.

↦ Meanwhile: Former junior Wimbledon champ (and ‘Morning Routine’ subject) Noah Rubin just officially swapped pro tennis for pickleball.

Meta Released Its Quest Pro Headset

It costs as much as a new PS5, Xbox and Quest 2 combined

Following the demise of smartphone-based headsets, Engadget says virtual reality headsets have generally fallen into two camps: lightweight standalone systems like the Quest 2 and more sophisticated PC-based systems like the Vive Pro 2.

But on Tuesday, Meta attempted to combine the best things about both types of headsets into a powerful, but still very comfortable, self-contained unit—the Quest Pro. It’s primarily designed for VR diehards and people who might want to get work done in the metaverse. As Mark Zuckerberg told The Verge, “Basically, this is a step toward all 200 million of those people who get new PCs every year starting to instead do some of the work in VR.”

WIRED says the new device is more technologically advanced than ever. But it still doesn't make a great case for VR. “It is both a virtual reality and ‘mixed reality’ headset ... it's a great escape from reality, but a good reminder that physical presence is better.”

And while new technology is never cheap, this thing is expensive. At $1,499 a gamer could purchase a PlayStation 5, Xbox Series X and the older Quest 2 VR headset. Forget all the boosted specs, the increased resolution, the new features, or any other changes from the Quest 2. As Mike Hume writes in the Washington Post, they may be impressive, but “they're all functionally irrelevant. There’s only one stat that matters for the Quest Pro if you use it for entertainment purposes, and it’s the price.”

↦ FYI: Meta’s flagship metaverse app is too buggy and employees are barely using it, reports The Verge.

In Other News

↦ Baltimore Prosecutors Drop Charges Against Adnan Syed, As Last-Ditch DNA Tests Exclude Him

↦ The U.S. Airlines With the Fewest Delays and Cancellations May Surprise You

↦ These Are 7 of the Most Haunted Hotels in America

Other Things We’re Talking About Today

Thom Browne

This story of resilience and determination

A stylish pour-over set

Bright Lights, Better Work

The best desk lamps for your home or office

Whether you're outfitting your home office or trying to bring a little personal style to your desk at work, a proper lamp is an essential not to be overlooked.

Sculptural and practical, it provides ample light for your work while adding a shot of style and architecture to your workspace. Some provide bright task light while others simply offer a little ambience. Either way, choices abound.

But one thing is clear: If you're ready to buy a real lamp—not unlike buying a real watch—you want to strike the right balance between price, build quality and a design that won't look out of date in a few years. From sleek modern classics like the futuristic Flos lamp (created by the British design team of Edward Barber and Jay Osgerby) to warmer interpretations in wood and brass, here are some smart options, in a range of styles, sizes and prices. Ready to flip the switch?

↦ Check out: The best desk lamps for 2022 (and beyond).