The Daily Valet. - 7/7/23, Friday
✔️ Has This Really Gone Flat?
Friday, July 7th Edition
By Cory Ohlendorf, Valet. Editor
You can't argue with a three-day week, amirite?
Today’s Big Story
Has Beer Gone Flat?
The suds business is in serious trouble—but it’s worse for some beers than others
What are you drinking? Just days after pledging my support to cheap beer, there are reports that America has fallen out of love with beer—or so the story goes.Sales are down. According to the Wall Street Journal, U.S. beer sales volumes have been slowly falling for years. That decline accelerated in the last quarter of 2022. Then Bud Light lost its top spot in the U.S. beer market last month, as the brand's sales sag following a conservative uproar over its partnership with a transgender social media influencer. Thanks to a resurgent cocktail culture, beer's overall market share has begun to shrink as spirits-based drinks are ascendant. Not to mention a myriad of canned competition from spiked waters and juices. Some say that for breweries, a storm is coming. But is it, really?Slate points out that the decline is not a free fall. Beer is still, by far, the most widely consumed alcoholic beverage by volume. In fact, overall alcohol consumption had actually increased in the past couple of decades leading into 2021. So, when alcohol industry analysts say beer is falling, they're talking about beer losing market share of retail dollars. In 2022 spirit sales amounted to 42.9%, and beer accounted for 41.2%—its first year in second place.Interestingly, it isn't the Budweiser bottle that's sweating. Slate found that if your brewery of choice is very large—or, perhaps surprisingly, if it's very small—you'll likely find comfortable shelter from the storm coming for the beer market. It's the brewers in the middle—the craft-beer makers that have a regional or national footprint, the non-Buds, the non-Millers, what you probably think of as the good beers—that could get soaked. They're simply not as agile as the tiny taproom breweries, says Dave Infante, who recently examined whether or not craft brewing can age gracefully. He's hopeful, though, and I'll drink to that.
Second Opinion:
A ballpark beer vendor, who's poured suds for two decades, has a few theories of his own about the sales decline this year.
Toxic Forever Chemicals Found in Tap Water
At least 45% of the nation's tap water Supply could be contaminated
Maybe we should be drinking beer. In the latest evidence of the pervasiveness of toxic “forever chemicals,” a new study from the United States Geological Survey estimates that these contaminants now taint nearly half of the nation's tap water.What does that mean, exactly? Exposure to certain levels of these synthetic compounds—referred to collectively as PFAS—has been linked to adverse health effects in humans and animals, including an increased risk of cancer. They're found in all sorts of places, from nonstick cookware to stain-resistant carpets to contaminated sources of food and water. They break down very slowly, building up in people, animals and the environment over time.The Geological Survey tested for the presence of 32 types of these extremely durable chemicals in water samples from more than 700 locations across the U.S. over a five-year period and used the data to estimate PFAS contamination nationwide. Scott Faber of the Environmental Working Group told the Washington Post that “millions of people have been drinking a toxic forever chemical linked to cancer all their lives and are only discovering it today.”
Meanwhile:
The EPA proposed in March the first-ever federal regulations that would require utilities to remove the PFAS from drinking water before they reach households and businesses.
Is Airbnb Really In Trouble?
Listings Revenues Are Falling Fast, but will this have any affect on America’s housing shortage?
Last week, a viral tweet by Reventure Consulting CEO Nick Gerli said Airbnb host revenue had fallen off a cliff. “The Airbnb collapse is real,” Gerli tweeted. “Revenues are down nearly 50% in cities like Phoenix and Austin. Watch out for a wave of forced selling from Airbnb owners later this year in the areas hit hardest by the revenue collapse.”The implication in the tweet is that these cities could soon see a lot more homes come on the market, which should lead to lower prices. Newsweek says the data seems to check out. But could an Airbnb crisis really help reverse soaring housing prices, which have become unaffordable for many Americans?Vox isn't so sure. Business writer Rani Molla points out that short-term rentals such as Airbnbs “only play a small part” in much bigger problems affecting U.S. housing. Even after a slight decline from a year ago, home prices are near their most unaffordable on record, with annual payments for a median home representing 41% of the median income. And since the Great Recession, home builders haven't been building enough new homes to keep up with the growing population and the generation of millennials who reached their 30s and are starting families.
Dig Deeper:
Architectural Digest examines the perfect storm of demand decreasing at a time of increased supply and which markets have been hit the hardest.
Sony Has a New, and ‘Weird’ Wireless Speaker
Compact spatial sound you can take (just about) anywhere
Despite attempts to turn them into keyboard-less laptops, tablets remain primarily media consumption devices for most users. Sony’s new HT-AX7 Bluetooth speaker promises to expand on that use by transforming your tablet into a portable home theater with a pair of detachable satellite speakers.The main unit rocks two front-firing drivers and two passive radiators, and is topped by a pair of speaker pucks for placement behind or in corners, which automatically pair with the main unit whenever detached. The audio source—be it a YouTube video running on a phone, music streamed from a hi-fi system or movies viewed with a projector—pairs over Bluetooth 5.2, and the HT-AX7 device can connect wirelessly with two such devices simultaneously.Some reviewers called it “weird looking” while others praised the long-lasting battery and handy 10-minute quick charge option. The batteries in each of the speaker pucks are charged by docking them atop the main unit. Gizmodo was impressed but said that the $499 price was a bit high and unlike a lightweight tablet, you likely won't find room for this in a carry-on bag the next time you travel.
FYI:
Although most think of it as a relatively new technology, the very first surround sound experiments date back to the 1930s.
In Other News
After 30 million downloads, Twitter threatens legal action against its rival.
Britney Spears Says Victor Wembanyama’s Security Struck Her in Las Vegas, NBA Rookie Says He Was Grabbed
Have you heard about ...
A Weekend Pairing
‘Jack Ryan’ + an Apple Jack Rabbit Cocktail
It's the end of the road for Jack Ryan. At least until the next reboot. John Krasinski (the fifth actor to take on legendary role), is back as the C.I.A. analyst who becomes a reluctant action hero. The fourth and final season, now streaming on Prime Video, kicked off last week and two episodes are being released weekly, with the finale wrapping up on July 14.This season begins with Ryan acting as the CIA's deputy director, on a mission to investigate drug cartels, terrorist organizations and a domestic conspiracy. Unlike other slow-burner type shows, Collider says this one “brilliantly elevates the tension for pulse-pounding action that keeps you at the edge of your seat.” The show also features the potent backup work of Wendell Pierce and Michael Kelly as Jack's colleagues James Greer and Mike November; while Abbie Cornish returns as Cathy Mueller. The Wall Street Journal's TV critic says the show will definitely “satisfy our appetite until the next Jack Ryan, inevitably, comes along.”
Pair It With
How about an easy-drinking cocktail that’s tart, sweet and packs a punch? This is also a classic made new, originating in a 1930s cocktail book, it blends fresh citrus and Apple Jack brandy with a touch of maple syrup for a perfectly balanced drink that begs for seconds (and thirds).
Also Worth a Watch:
‘The Lincoln Lawyer,’ season 2 on Netflix; ‘The Quiet Girl’ on Hulu
Shopping
What We’re Buying
A smoky candle
Light this candle inside without the hassle of swatting mosquitos. With a tobacco and smoky aroma, the 45-hour burn time should nearly last you through summer.
Get It:
Fireside candle, $40 / $28 by Filson
Morning Motto
It’s Friday … why push it?
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