The Daily Valet. - 4/6/23, Thursday
✔️ Can They Survive?
Thursday, April 6th Edition
By Cory Ohlendorf, Valet. Editor
At a ballgame, are you on team nachos or team hot dog?
Today’s Big Story
Can Movie Theaters Survive?
The Box office is down and the movie biz is looking for a lifeline, even from tech brands
Are you regularly going to the movies? Personally, I haven't been inside a theater since before the pandemic. I'm not against it, but I just haven't been motivated enough to go (and pay that much for one film). And it appears I'm not the only one relying more on streaming these days. Now, theater chains fear that the defection may be permanent—that the full houses and packed concession stands of the world before the spring of 2020 may never be seen again at the same levels.Of course, if there's one thing that can lure customers back into the theaters, it's familiar and beloved brands. Studios aren't taking any chances so they're taking characters and stories that are already wildly popular (be it Barbie, Mario or Dungeons & Dragons) and spinning them into storylines that can play out on the big screen.It's not just streaming either. In what's shaping up to be a make-or-break year for theater chains with steep debt loads, the challenges facing the industry include wage and inflationary pressures on the expense side. AMC Theatres, which operates nearly 1,000 screens globally, saw attendance fall further as its quarterly loss nearly doubled to $287 million. CEO Adam Aron told analysts that he didn't see a full box office recovery before 2025 at the earliest.One solution? Simply showing more films. Exhibitors aren't picky. They're hoping that if studios can ship them 100-plus features (along with some streaming titles too), this year won't be a total bust. Multiple executives told the Hollywood Reporter that the prescription for bringing theatrical attendance and box office cash back to historical levels includes releasing more volume and diversity of films instead of just relying on the next superhero blockbusters.Meanwhile, tech companies are reportedly expanding operations into the movie theater space—either through funding films for theatrical release or investing in theater chains outright. It could be something of a win-win. The moves could also drive up interest in the companies' own streaming subscription services while helping get people back into those plush, velvet seats.
FYI:
Some theaters are testing “sightline” pricing, giving seats at evening screenings different costs depending on their location.
FBI Seizes Hacker Marketplace
Law enforcement agencies from 17 countries collaborated to take down “Genesis Market”
The Justice Department announced Wednesday that the FBI, along with over a dozen international partners, seized the notorious cybercrime marketplace Genesis Market that reportedly dealt in stolen identities and account credentials.Known as a marketplace for stolen data, it was one of the most user-friendly digital forums for hacked information—responsible for accessing some 80 million user credentials in the past five years alone. Earlier this year, Genesis Market “started to actively recruit” data sellers to the forum, likely to keep up with growing demand for stolen data from customers, according to U.S. cybersecurity firm Trellix.Dubbed “Operation Cookie Monster,” the sting was led by the FBI and the Dutch National Police and is the latest in a series of international law enforcement stings that increasingly involve coordinated arrests and raids on multiple continents. According to CNN, the FBI and Europol, the European Union's law enforcement agency, in January 2022 seized computer servers after identifying “more than 100 businesses” that were at risk of being hacked by cybercriminals.
FYI:
Genesis Market also sold so-called “device fingerprints” that combined someone's device identifiers and browser cookies to circumvent anti-fraud detection software.
The New King’s Coronation
the first weekend in May will be full of celebrations for Great Britain's new monarch
King Charles became Britain's monarch at the exact moment his mother, Queen Elizabeth II, died in September. But now the new King (who set a record for the oldest monarch to ascend the throne) is about to have his crowning moment of glory as the U.K. prepares for its first coronation in 70 years.Buckingham Palace just released the official invitation, identifying his wife as Queen Camilla for the first time. According to NPR, it raised some eyebrows, in large part because of the relationship's controversial history and the palace's previous stance on her position. The coronation—known by the code name Operation Golden Orb—is set to be a lavish display of quirky British traditions with some more modern touches. Kicking off on May 6th, it will be a long weekend filled with celebrations ranging from street parties to concertsAfter decades of preparation, King Charles is reportedly focused on modernizing and "slimming down" the monarchy. But as for the crown itself, that's old. Really old. The 17th century solid gold headpiece has been integral to British coronations for over 350 years and is so heavy it's only used at the exact moment of coronation.
Meanwhile:
The two most-talked-about guests still haven’t said whether or not they’ll be attending.
Baseball Is an Eater’s Sport
The Newest and Craziest Food You Can Buy at Baseball Stadiums Across the Country
I was never the biggest baseball fan ... but I've never turned down the opportunity to go to a game. Why? Because it is, by far, the best sport to watch while snacking. Ballparks have always excelled at providing spectators with a myriad of savory, sweet and boozy delights. Which is why, last season, the average baseball fan spent an average of $74.40 on food and drinks per game. But in 2023, things are getting wild.According to Newsweek, there are a number of no-holds-barred and over-the-top burgers and pizzas (and a combination of them both) that will be on sale for those who have a huge appetite and a wallet to match, as these snacks don't come cheap. For instance, in Miami, the “Cubano Gigante” is 34 inches long (so make nice with the guy in the neighboring seat). It's supposed to feed at least four people and costs a whopping $50.Fans of the classics, don't fret: Your usual hot dogs and cheese-drenched nachos will still be available. But, as The Takeout points out, there are some new snacks on the concourse worth trying—from fried avocado in Boston to the strawberry churro shortcake in Oakland.
The Season Ahead:
Can anyone unseat the defending champs? Who might end up on the playoff bubble? The Ringer presents their 2023 season power rankings.
In Other News
Hundreds of billions of taxpayer dollars were stolen during the pandemic.
Have you heard about ...
The Long Read
GQ's New creativity awards honor APPLE’S CEO
At a moment dense with pathological tech founders who log on daily to pontificate about the collective future of humankind, Cook does not log on all that much. He does not move fast and break things. His even calmness stands as an implicit rebuke to the chaos agents—Elon Musk, Mark Zuckerberg, and so on—who often get called to testify in Congress alongside Cook about the increasingly uncertain state of tech in this country.”
- Zach Baron
Read It:
//
Shopping
What We’re Buying
Relaxed Chinos
Looking to experiment with wider fit pants? If you're looking for some relaxed chinos but maybe don't want something “giant” or with too large of a price tag, consider these your gateway chinos. Gap has re-issued some khakis (available in three colorways) from the 1990s and the fit is pretty much just how we want them to fit these days. A wider straight leg with a slightly higher rise and an inseam that can either be cuffed or left to puddle over your shoes. And at this price, if you find out it's just a fad that's not for you, you haven't invested too much.
Get It:
90s Loose khakis, $69.95 / $34 by Gap
Morning Motto
Rest, recharge and reward yourself.
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