The Money Game: Scott Galloway
New York magazine|May 23 - June 05, 2022
Buy Now. Pay (and Pay, and Pay, and Pay) Later. The bill for the finance hack of the pandemic is coming due-for all of us.
Erik Carter
The Money Game: Scott Galloway

LET'S ROLE-PLAY. It's March 2021. You're 23, a year out of college. Your last semester was ruined by the pandemic, but now you've got a job with a firm that's "reinventing commerce" in a loft with reclaimed wood and catered lunches. Bars are open, your friends are coming back to the city, and your bank balance looks good, healthy even: COVID means living cheap, with free cash from the government and no student-loan payments. You lease an apartment and begin dabbling in the markets-they're all surging. You pick up tips on Reddit, trade on Robinhood, buy crypto. One of your tokens turns a modest stake into real money almost overnight. By summer, your college crew is planning a reunion, and it's time to invest in an adult wardrobe to signal your budding success. It feels weird to spend hundreds of dollars on outfits-but now there's an app for that. On TikTok, try-on hauls from Shein teach you a killer finance hack: "Buy now, pay later."

It seems smart, almost responsible. You know credit-card debt is how boomer-economy consumers wrecked their finances. And BNPL isn't credit-it's debit with fixed payments taken right from your bank account, and you're told there's no interest or late fees. It helps you plan your spending, letting you spend more now-so you do. You use Afterpay to buy sneakers from Reformation, and Klarna to defer payments on tickets from Live Nation, and Affirm to get a Peloton. Your approach to spending feels New Economy-the traditional laws of finance don't apply.

Bu hikaye New York magazine dergisinin May 23 - June 05, 2022 sayısından alınmıştır.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.

Bu hikaye New York magazine dergisinin May 23 - June 05, 2022 sayısından alınmıştır.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.

NEW YORK MAGAZINE DERGISINDEN DAHA FAZLA HIKAYETümünü görüntüle
Drowning in Slop - A thriving underground economy is clogging the internet with AI garbage-and it's only going to get worse.
New York magazine

Drowning in Slop - A thriving underground economy is clogging the internet with AI garbage-and it's only going to get worse.

SLOP started seeping into Neil Clarke's life in late 2022. Something strange was happening at Clarkesworld, the magazine. Clarke had founded in 2006 and built into a pillar of the world of speculative fiction. Submissions were increasing rapidly, but “there was something off about them,” he told me recently. He summarized a typical example: “Usually, it begins with the phrase ‘In the year 2250-something’ and then it goes on to say the Earth’s environment is in collapse and there are only three scientists who can save us. Then it describes them in great detail, each one with its own paragraph. And then—they’ve solved it! You know, it skips a major plot element, and the final scene is a celebration out of the ending of Star Wars.” Clarke said he had received “dozens of this story in various incarnations.”

time-read
10+ dak  |
September 23 - October 6, 2024
The City Politic- The Other Eric Adams Scandal The NYPD shot a fare evader, a cop, and two bystanders. He defends it.
New York magazine

The City Politic- The Other Eric Adams Scandal The NYPD shot a fare evader, a cop, and two bystanders. He defends it.

On Sunday, September 15, Derell Mickles hopped a turnstile, got asked to leave by cops, then entered the subway again ten minutes later through an emergency exit. This was at the Sutter Avenue L station, out by his mother's house, five stops from the end of the line. Police said they noticed he was holding a folded knife. They followed him up the stairs to the elevated train, asking him 38 times to drop the weapon.

time-read
5 dak  |
September 23 - October 6, 2024
Can the Media Survive?
New York magazine

Can the Media Survive?

BIG TECH, Feckless Owners, CORD-CUTTERS, RESTIVE STAFF, Smaller Audiences ... and the Return of PRINT?

time-read
5 dak  |
October 21 - November 03, 2024
Status Update
New York magazine

Status Update

Hannah Gadsby's fascinatingly untidy tour through life after fame and death.

time-read
5 dak  |
October 21 - November 03, 2024
A Matter of Perspective
New York magazine

A Matter of Perspective

A Matter of Perspective Steve McQueen's worst film is still a solid WWII drama.

time-read
3 dak  |
October 21 - November 03, 2024
Creator, Destroyer
New York magazine

Creator, Destroyer

A retrospective reveals an architect's vision, optimism, and supreme arrogance.

time-read
5 dak  |
October 21 - November 03, 2024
In Praise of Bad Readers
New York magazine

In Praise of Bad Readers

In a time of war, there is a danger in surveying the world as if it were a novel.

time-read
10+ dak  |
October 21 - November 03, 2024
Trust the Kieran Culkin Process
New York magazine

Trust the Kieran Culkin Process

First, he nearly dropped out of Oscar hopeful A Real Pain. Then he convinced Jesse Eisenberg to change the way he directs.

time-read
8 dak  |
October 21 - November 03, 2024
The Funniest Vampires on TV
New York magazine

The Funniest Vampires on TV

What We Do in the Shadows is coming to an end. Its idiosyncratic brand of comedy may be too.

time-read
5 dak  |
October 21 - November 03, 2024
The Water-Tower Penthouse
New York magazine

The Water-Tower Penthouse

Gigi Loizzo and Angel Molina's apartment on the Grand Concourse in the Bronx looks out on Yankee Stadium.

time-read
2 dak  |
October 21 - November 03, 2024