The Daily Valet. - 5/3/24, Friday

Friday, May 3rd Edition
Cory Ohlendorf  
By Cory Ohlendorf, Valet. Editor
What was your favorite mall store growing up? I'm dating myself, but does anyone remember Structure?

Today’s Big Story

The Mall Isn’t Dead

 

It’s not what it once was, but the American mall is adapting to changing times … with food

 

We’re all shopping online. But reports of the mall’s death may be greatly exaggerated, to paraphrase Mark Twain. Young people are still going to the mall—if only to eat.

The culinary offerings at most shopping centers are a lot different than the old days. (What’s wrong with Panda Express?!) Plus, there's a lot more of it. The amount of space dedicated to food in malls has grown from 5% in the 1990s to upwards of 20% today, reports CNN. There’s a boom in smaller and regional restaurant chains with a local following. Plus a much wider menu of global cuisines. So … no more Cinnabon?

While some malls across the U.S. are boarding up and major brick-and-mortar stores are closing, more savvy malls are now thriving after incorporating modern amenities like new local restaurants and more entertainment-based or mixed-use options for families and consumers. Sushi bars and local microbreweries have made malls destinations again as the humble food court morphs into stylish (and more expensive) food halls with luxe, local ingredients and off-shoots from high-end restaurants. The International Council of Shopping Centers estimated that nearly 15% of consumer expenditure on retail goods, food services and other retail-adjacent services went through malls in the first quarter of 2023.

And while indoor suburban shopping malls might be withering and closing, new “lifestyle centers” and outdoor shopping malls are still thriving and growing. According the Wall Street Journal, visits to outdoor shopping centers have increased since the pandemic as the rise in remote work has given people the time and flexibility to run errands more frequently and closer to home. Outdoor shopping and strip centers also appeal to retailers who are increasingly allowing customers to pick up or return items bought online.

 
FYI:
 
Occupancy rates are the number one indicator of a mall’s health. And on average, top-tier malls were more than 95% leased last year.

More Campus Arrests

 

An update on the protests and Biden’s call for “order”

The clashes between police officers and pro-Palestinian protesters on college campuses has seized national attention, putting a spotlight on modern-day campus activism, law enforcement tactics and the contentious debate over Israel’s war in Gaza. In the last three weeks, more than 2,000 people have been arrested across the U.S., reports ABC News.

The leaders of many universities have defended their decisions to call in law enforcement, including when protesters who were suspected of trespassing or disorderly conduct—and, in Columbia’s case, overtaking a building on campus—did not follow orders to disperse. President Biden on Thursday said “order must prevail,” insisting it's his responsibility to protect the “rule of law” as much as freedom of expression. He also told reporters that “no,” the National Guard should not intervene and that the protests have not changed his position and policies toward the war between Israel and Hamas.

In echoes of Vietnam War protests some five decades ago, students are calling for universities to divest in any investments connected with Israel's government. However, there is progress being made: Student organizers at New Jersey’s Rutgers University and the University of Minnesota in Minneapolis joined Northwestern and Brown universities in reaching agreements with administrators to end encampments as talks on students' divestment demands continue.

 
Meanwhile:
 
Activists are demanding more transparency around universities’ investments, which experts say can be difficult to trace in all forms.

U.S. vs. Google Wraps Up

 

As the landmark ‘monopoly power’ trial closes, here's what to look for

The landmark monopoly trial between the U.S. Justice Department and Google comes to a finale this week. After a five-month hiatus, both sides began presenting closing arguments Thursday aiming to persuade the federal judge why they should win the case. Arguments are scheduled to conclude today.

The government claims that Google competed unfairly when it paid Apple and other companies billions of dollars to automatically handle searches. Just how lucrative are our eyeballs? Google paid $26.3 billion in 2021 alone to be the default search engine on phones and web browsers. “Google illegally maintained a monopoly for more than a decade,” Kenneth Dintzer, the Justice Department's lead lawyer, said. “If Google sets the rules, it will always be to their advantage.”

That’s a lot of money, but according to Fortune, Google reaped an operating profit of nearly $96 billion last year, mostly by selling digital ads—a market that it also dominates largely because it controls about 90% of the U.S. internet search market. On Thursday, the judge Amit went back and forth with Google’s lead litigator, John Schmidtlein, questioning whether another company could amass the money and data needed to develop a search engine that could eventually compete against Google. “It seems to be very, very unlikely, if not impossible, under the current market conditions.”

 
Dig Deeper:
 
Semafor says the ruling will likely set a new legal precedent for Big Tech.

The Rabbit R1 Reviews Are In

 

Does one really need a dedicated AI-focused device?

Ever since its splashy debut at CES, with a keynote filled with big promises and impressive demos, the buzzed-about Rabbit R1 has been sold as a super-clever, ultra-helpful AI assistant. Rather than just answer ChatGPT-style questions, it was supposed to do just about everything your phone can do, only faster, by predicting your needs and helping you out.

But much like the Humane Ai pin, which reviewers dragged to hell and back for its disappointing performance, tech writers don’t seem to like or even get the R1. Mashable said this bunny “ain't hoppin'—it's floppin'.” The Verge was a bit more diplomatic, saying it was “unfinished and unhelpful,” adding, “there’s nothing about the device itself that makes it worth grabbing over your phone.”

Gizmodo called it “half-baked at best,” and recounted 10 things they hated about it. While another reviewer noticed that Rabbit's “entire user experience appears confined to a simple Android app. So, why isn't it just an app instead of a $200 gadget?” So, I guess … save your money for the next device?

A Weekend Pairing

 

‘Unfrosted’ + a Pop Tart

 

There’s a recent wave of mass-market product biopics—movies like Flamin’ Hot and Blackberry, but Unfrosted, the first movie directed by Jerry Seinfeld (who also stars in it), takes its history with a grain of, well, high fructose corn syrup. When asked how much of his version of the Pop-Tart’s creation story is based on facts, he told NPR “Probably 4.6% … kind of like the percentage of nutrients in a bowl of cereal.”

That’s okay though. This candy-colored film, with a cast jam-packed with comedic talent, may be low on substance but it’s high on enjoyment. Not unlike the rectangular toaster pastries the story revolves around. Imagine if dueling cereal companies, Kellogg’s and Post, actually had their headquarters right across from each other—and they were constantly looking out the window just wondering, exactly what are they up to? That’s the silly tone of this film, which critics have called “goofy,” and “absurdly surreal,” but altogether “satisfying.”

Pair It With

 

No, I’m not suggesting a cocktail. I’m recommending you watch this film while chomping on an actual Pop-Tart. The brown sugar cinnamon flavor was always my favorite as a kid and was, in fact, one of the original flavors first released back in 1964. The frosted version came a few years later, but the cinnamon-y glaze is very welcome, so I say spring for the frosted variety.

Also Worth a Watch:
 
Everybody’s in L.A.’ on Netflix; ‘The Idea of You’ on Prime Video

Shopping

What We’re Buying

 

A backpack

 

Everlane’s popular transit backpack features a main compartment with a laptop sleeve along with two roomy exterior pockets and a handy side water bottle pocket.

 
Get It:
 
ReNew transit utility backpack, $85 / $34 by Everlane

Morning Motto

Little by little.

 

Never underestimate the power of small habits.

Follow: 

@alkalineveganfacts

 

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