The New York Times’ Kevin Roose charts the exploding cost of services, such as Uber and Airbnb which were, until recently, a way to live “Balenciaga lifestyles on Banana Republic budgets” — all thanks to the Silicon Valley money fire that roared for years as deep-pocketed investors tried to disrupt incumbent industries.
“Today my Uber ride from Midtown to JFK cost me as much as my flight from JFK to SFO,” Sunny Madra, a vice president at Ford’s venture incubator, recently tweeted, along with a screenshot of a receipt that showed he had spent nearly $250 on a ride to the airport.
“Airbnb got too much dip on they chip,” another Twitter user complained. “No one is gonna continue to pay $500 to stay in an apartment for two days when they can pay $300 for a hotel stay that has a pool, room service, free breakfast & cleaning everyday. Like get real lol.”
Some of these companies have been tightening their belts for years. But the pandemic seems to have emptied what was left of the bargain bin.
An excellent “changing of the seasons” article. An objection, though: it poses the prior cheapness of Uber, Airbnb and so on as “subsidizing” the lifestyle of “millenials”.
Folks over 40 have been known to get in an Uber or order food from Grubhub now and again. Millenials are just vulnerable to soaring costs because they have nothing. They sure aren’t the people lately screwed by lumber prices.
The lens of subdiziding millenials seems to me an oddly evasive way of describing predatory pricing. Boomers vastly outspend millenials on consumer services. Yet everything must be centered around the stereotypical avacado toast-eaters, as if they were the prime movers in everything. When Gilead comes, the headline will be “Millenials Swap Wokeness For Wimples.”