The Daily Valet. - 10/27/22, Thursday

✔️ Are They Really Coming?

October 27, 2022

Thursday, October 27th Edition

Cory Ohlendorf, Editor in Chief of Valet.

New phones are great and all, but I want the flying cars of the future we were all promised.

Cory Ohlendorf , Editor ⋯ @coryohlendorf

Today’s edition is presented by

Today’s Big Story

Flying Cars Are Finally Coming

Companies are set to release workable models that you’ll be able to own—for real this time

We’re a mere two months away from the year 2023. And look, we have a lot of impressive technology these days. But damnit, shouldn’t we have flying cars by now?

Sadly, the air-bound automotive sector has been caught in a holding pattern between pie-in-the-sky promises and a marketable reality for decades. That is, until now. According to Robb Report, the industry may be approaching a tipping point, with several outfits now close to ushering the concept—and to be clear, we’re not talking eVTOL aircraft, but road-legal cars with wings or rotors—into production.

Take the Klein Vision AirCar, which resembles a futuristic Italian sports car, but at the touch of a button the tail extends and wings unfold from a hidden compartment. A basic pilot’s license will be required to fly the aircraft, which will have a cruising speed of 186 mph. Meanwhile, the Liberty Sport , from PAL-V International, is testing to be sanctioned by the European Aviation Safety Agency as a turnkey flying machine (a process that will take at least 18 months) and will require a gyrocopter license to pilot. With first deliveries projected for early 2024, the company said it could soon be producing up to 10,000 of the transforming three-wheeler cars a year.

That transformation seems to be key to the equation. The Switchblade from Samson Sky boasts that it can switch from road-legal vehicle to aircraft that can speed up to 200 mph at 13,000 feet in under three minutes. Exclusive features work to smooth the ride both on the ground and in the air, while a high-tech climate-controlled cabin adjusts accordingly to the atmosphere outside the car.

Just last week, the Chinese XPeng X2 successfully completed the first public test flight of its two-seater flying car at GITEX technology expo in Dubai. The fully electric vehicle lifts vertically off the ground using eight propellers. That means there’s no need for a runway and is therefore suitable for built-up urban areas. While the test vehicle didn’t have any tires, the company says the production car will be able to fly in the air and drive on roads.

But just because the cars are coming, doesn’t mean that it’ll make for an easy transition into the air. According to the Global Times, experts warn that true commercialization could take around a decade given persisting challenges including safety, short driving range and local airspace regulations.

↦ Meanwhile: Alef’s still-in-development vehicle, the Model A, will look like a sleek electric car but be capable of vertical take-off, and be able to fly for 68 miles.

The World Is Failing Its Emissions Test

Greenhouse gas emissions need to halve by 2030. But the U.N. says they’re going to rise.

A new report by the United Nations on Wednesday warned that the climate plans from governments worldwide remain insufficient to limit rising temperatures to 1.5 degrees Celsius as set out in the 2015 Paris Agreement.

U.N. climate scientists found that the world is on track to increase emissions by 10.6% compared to 2010 levels—and that's if countries actually meet their current commitments. What that would mean is global average temperatures rising as high as 5.22 degrees Fahrenheit.

It's definitely a grim prediction as world leaders prepare to gather at COP27 in Sharm el-Sheikh, Egypt next month to hash out their plans to deal with climate change. And it's a sad reminder that there's often a big difference between what countries say and what they do.

According to the New York Times, with each fraction of a degree of warming, tens of millions more people worldwide would be exposed to life-threatening heat waves, food and water scarcity, and coastal flooding while millions more mammals, insects, birds and plants would disappear.

↦ However: Fossil fuel consumption is expected to peak in this decade. That’s gotta be good, right?

Partner

The holidays are almost here. I know ... but that panic you're feeling? This is how you fix that.

WFH at Your Own Risk

Remote workers worry they may be the first to go in the next round of recession layoffs

As recession winds blow and the prospect of layoffs grows, a lot of remote workers are beginning to worry about a potential downside to the convenient work from home schedule that's served us all so well since the early days of the pandemic.⁠

Some employees are afraid that they'll be the first ones let go if they're working remotely. And according to Fortune, they might be right. A recent survey of more than 3,000 managers finds that 60% agree it's likely remote employees would be laid off first. Only 20% said that's not very unlikely.

Several experts told the Los Angeles Times that it's too soon to know whether the brunt of job cutbacks will fall on remote workers, noting that companies have an inherent self-interest in keeping high-performing employees, whether they're in the office or not.

But suddenly, companies have a little more power in requesting their workers come back into the office, reports USA Today. Today, 25% of all workers are remote, 23% are hybrid and 52% are at the workplace full-time, but we'll see where that ends by next year.

What’s It Take to Launch a New Credit Card?

Can X1 rewrite the credit card playbook?

By now, we're all familiar with the big names who own and operate the credit cards we use. And they're essentially the same, right? Which might be why some big names in tech and finance thought this might be an area in need of improvement. Or, at least, a lucrative business opportunity. It's called the X1 card.

Launched by Twitter's former director of engineering and a PayPal cofounder, they've also brought in the guy who helped Apple create their credit card to help rewrite the way they do business. For instance, the card—which doesn't charge an annual fee—underwrites customers based on their income rather than their credit scores, which the company says enables it to set credit limits up to 5x higher than traditional card providers.

With a waiting list 600,000 strong, the card became available to the public in mid-September and is getting talked about thanks to it's sleek design (the card is a single piece of stainless steel), modern features and generous rewards.

According to Afar, X1 offers a reward structure that's frankly unheard of for a card with no-fee. You can track points easily on the companion app and points are allotted (and redeemable) as soon as purchases are made—no waiting. Plus, this comes with the full portfolio of Visa Signature travel and shopping protections, which are typically only offered on cards with a healthy annual fee. Saving Advice says the APR is competitive but not the lowest in the game, so just keep that in mind when you're weighing your options.

↦ FYI: The average American credit cardholder had $6,194 in credit card debt—about 5% higher than last year’s average.

In Other News

↦ Musk Lugs Sink Into Twitter HQ As $44 Billion Deal Deadline Looms

↦ The World’s Fastest Shoes Promise to Increase Your Walking Speed by 250%

↦ Spirit Halloween Memes Have Some Last-Minute Costume Suggestions

Other Things We’re Talking About Today

What you bought in October

Rick Rubin’s new book

Peanut butter skulls

Partner

Jumpstart Your Holiday Shopping

Want the good stuff (at the best price)? Huckberry’s got you covered.

We say it ever year, don't we? That we'll start shopping early so that you're not rushing around, worried about finding the right gift or sweating whether or not the shipping will arrive on time. But we rarely do. Save yourself the trouble and start now. Buying early is the only way to ensure you get what you want—and get it on time. And whether you're shopping for a gift or maybe treating yourself, Huckberry has everything you might need.

Their Holiday Outpost is stocked with a wide range of cozy yet hard-wearing options from some of our favorite brands. So whether you're looking for some reinforced, all-leather gloves, an elegant cocktail shaker or a modern personal fireplace, they've got it and more—all but guaranteed to please. Herewith, a few solid gift picks to pick up immediately.

Outdoor wool-blend slipper boot, $108 by Greys

Whiskey Peaks Decanter and Whiskey Glass Set

Decanter and whiskey glass set, $95 by Whiskey Peaks

Personal concrete fireplace, $99 by FLIKR Fire

Giver All-Leather Gloves With Wax Coating

All-leather gloves with wax coating, $130 by Give'r

Elevated Craft Stainless Steel Cocktail Shaker

Stainless steel cocktail shaker, $70 by Elevated Craft

Brad Leone waxed apron, $79 by Flint and Tinder

Supima cotton hooded waffle robe, $195 by Onsen

Case Elegance Military Glass Top Humidor

Military glass top humidor, $299.99 by Case Elegance

↦ Shop Now: Check out Huckberry’s Holiday Outpost for more great gift ideas.

What We’re Eyeing

What do you get when you cross a chore coat and a cardigan? The term “pub jacket” was first coined by Murray Pearlstein, founder of iconic menswear store LOUIS Boston, to describe this handsome, durable and versatile piece. Todd Snyder just made his dream version, knit from 100% Italian merino wool—so it's as soft as it is sturdy. Available in four different shades and designed for easy layering, it looks as good dressed up under a jacket as it does tossed over a T-shirt with some jeans and your beat-up Birks.

↦ Get It: $398 by Todd Snyder

Partner

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