Reclaiming Retail and The Story of Coffee Houses (Cafe Society #4)
Plus PPE for Clubbing, Greek Unpopularity Contests, Overpaying at Auctions and more.
Events!
We’re starting our own set of virtual events as we settle into the new normal. Next week we’ll have a more comprehensive schedule for you, but Maxwell has thrown a ton of live events with Jiggy, a comedian friend of ours who was in the Impractical Jokers movie and has performed in Madison Square garden. In the past he has taken over our living room for pop-up comedy shows, and he’s going to do that with us virtually now - a full two hours of standup comedians popping in to entertain you next Saturday., May 9th, at 8pm EST. Don’t miss it!
Deep Thinking
9,300 to 15,000. That’s the increase in retail store closures that Coronavirus is expected to have according to this CNBC article. Many of these stores and local establishments aren’t going to file for Chapter 11 bankruptcy but Chapter 7 and just liquidate their assets. We’ve heard whisperings this week of JCrew, JC Penney and Neimen Marcus going bankrupt soon.
This plays into a wider trend we’ve talked about at Maxwell. Reclaiming Retail. Our view is that we’re in the middle of a massive realignment, whereas with the invention of chat rooms, Facebook, Tinder and more we’ve continually moved more of our social life online over the past 20 years, we’re starting to see that reverse as people prize in-person social interaction more, while at the same time there are record retail vacancies on main streets all around America…
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Have a great week!
David, Kyle & Tia