RRR23: Airbnb Monthly Rates, Intro vs. Extroversion, City SIPS Turns 20, When Knowledge Becomes Power, NBA Playoffs Round 1
🏡🧍🏻👯♂️🍻🧠🏀
I’ve become something of a truffle pig when it comes to identifying meaningless market inefficiencies.
It started when I sniffed out an $18 dollar entree, The Hot Basil Duck, at a small Thai spot in town. They seriously couldn’t make it tastier if they tried, and they give you a ton of duck, cooked to absolute perfection.
Then, I brought you the Kiwi Market Inefficiency, and I am happy to report we’re starting something of a movement here in the RRR family.
A lot of you have started sending me pictures of fully skinned kiwis with bites missing, and it’s quite lovely to see.
Some friends and I went so far recently as to prompt various AI tools to write poetry about eating kiwis with the skin on.
Kiwi so green
fibrous skin
vitamins within
nature’s healthy sheen
😅😅😅
There’s a great Mexican restaurant called Ixtapa near my house, but they also have a bar in the back that few people frequent. It’s an amazing place to watch a good basketball game.
Both the men and women teams at the University of Connecticut recently had exciting runs in the NCAA tournament, and as you could imagine, people around here have been in a frenzy of support. There are few sports bar within the densely populated southern part of the state where you could enjoy a game comfortably - but at Ixtapa you can! We recently went to watch the men play in the semi-finals and were the only people at the bar. We got to enjoy some great food and cervezas.
Classical market inefficiency.
And now, for my next trick…
Rates for Airbnb monthly stays are incredibly priced.
Think about if you wanted to go away for a month - what would it cost you to stay in a hotel? How would you even go about finding a house or an apartment for an entire month rental?
Airbnb is obviously creating a ton of value by making it easier to find such places, but they’re also doing an incredible job of attracting more homeowners onto the platform.
The sheer amount of listings helps drive prices down a bit, but they can certainly be pricey after cleaning fees, etc.
Sometimes, if you’re staying somewhere for a few days, it actually is cheaper to get a hotel. From there it’s all about preference - I still prefer an Airbnb property vs. a hotel because I can have more living space, a kitchen, etc.
Yet, the magic of Airbnb happens once you want to stay somewhere one month or longer.
Here’s a month stay in Newport, Rhode Island, available for the month of September (at the time of writing)!
$2,900 after fees to spend a beautiful summer month in a place where the average home value is over $800,000 (according to Zillow).
Here’s a condo available in Myrtle Beach, South Carolina, for $2,200 after fees that sleeps 5 (also at the time of writing).
Unlike the price of kiwis, Airbnb monthly stays probably aren’t actually an inefficiency.
Whereas with kiwis we’ve failed as society to educate people on how to eat them, it’s probably true that most people are not able to pack up and leave to live somewhere else for a month.
Even with the rise of hybrid and remote work, people still have obligations to get into the office, family members they need to attend to, and a host of other responsibilities.
Additionally, while the prices of these monthly stays are very comparable to rent or mortgage payments in a lot of markets, most people already have a payment. Sure, maybe the Airbnb price is even less than your mortgage payment - but that doesn’t mean you can take on the cost in addition to your current liabilities.
In any event, for the lucky people out there who truly can work from anywhere, and don’t have lots of debt or expenses, Airbnb monthly stays are an incredible opportunity. You can get to know new places, make new friends, and live in a way that truly wasn’t feasible even fifteen years ago.
In Recent Times…
Last week, I was back in Philadelphia getting together with a ton of my coworkers, visiting friends, eating delicious food, and enjoying some of the beautiful spring weather:
Many people describe the difference between introverts and extroverts along the lines of whether being with people gives you energy, or drains your energy.
I’ve been thinking about that a lot since I’ve returned home, because it doesn’t feel remotely close to my experience when I socialize, and I was wondering how many of you felt the same!
Being with people gives me a ton of energy, but I definitely need some time to recover afterwards. Being with people can also make me intensely happy, or pretty bummed out depending on the quality of the company. Depending on how you’re socializing, it can take time away from important self-care habits like getting to the gym, reading, amongst other things.
All of that to say, I don’t think we can identify so easily as extroverted or introverted based on how we feel during / after socialization, as it’s typically an incredibly wide spectrum of results based on a large amount of variables.
Whether you’re introverted or extroverted, socializing is incredibly important.
In my case, not only did I feel amazing during and after my hyper-social week, but it served as an important buffer for me.
When I spend lots of time alone, I tend to spend it seeking information and ideating on an endless list of topics. I’m easily interested, and I definitely get a dopamine hit from learning something.
Yet, access to instant information, and endless different types of incredible media leave me often feeling like I need a breather from such active thinking.
Being around so many incredible people definitely helped me to unplug for vast swaths of time.
Sure, I feel behind on my reading, my gym schedule, and I certainly didn’t eat the cleanest. Still, I feel much better than I would have had I spent the week in solitude.
Content of the Week - Philly Edition 🔔
Keeping the commonwealth energy going, I wanted to look at a few news stories coming out of Philadelphia. Not only is the city very dear to me, but it’s also a great microcosm for many of the dynamics that exist in other parts of the country, and the world at large. Seeing how these dynamics evolve over time, how problems are addressed, and how tensions between ideologies ebb and flow is often fascinating.
Mayor Parker Address’ The Crisis in Kensington
I previously wrote about Kensington in RRR8. Since then, Philly has welcomed a new mayor and to her credit, she seems to be tackling some meaty problems with a ton of vigor. I’m impressed, honestly.
Mayor Cherelle Parker signed three bills into law Wednesday designed to improve the quality of life in Philadelphia.
The actions ban gambling devices in convenience stores and gas stations, criminalize the installation of a license plate flipping device and mandate an 11 p.m. curfew for most businesses in the city’s Kensington section.
It was Parker’s first public bill signing since becoming mayor in January. On her first day in office, she declared a public safety emergency in Philadelphia. Parker said Wednesday it’s time to make the city a better place to live and work.
“This administration will use every tool in the toolbox to tackle the disorder that we have seen in Kensington,” she said.
How’s that for some commonsense reform? I had never heard of a license plate flipping device before…
New Mayor Cherelle L. Parker, who ran for office while embracing stop-and-frisk and opposing drug consumption sites, won election handily. Since taking office in January, she’s solidified her rejection of some progressive approaches to drug policy, announcing that the city will no longer fund services that provide people with tools for safer drug use.
And earlier this month, Parker unveiled her administration’s much anticipated strategy to end the sprawling open-air drug market in the city’s Kensington neighborhood, where hundreds of people — many of them in addiction — are homeless. Her plan includes arresting people for such low-level offenses as drug possession and prostitution, crimes the city hasn’t targeted in years.
Philadelphia is far from alone in being a blue jurisdiction taking a more law-enforcement-heavy approach to public safety and drug policy, compared with just a few years ago in the aftermath of the 2020 police killing of George Floyd, which ushered in a wave of progressive policymaking and criminal justice reform.
The idea is that the choice between incarceration and treatment will push a lot of people struggling with addiction to get the help they need to get sober.
There is a lot of criticism that will undoubtedly be heaped upon Mayor Parker for this policy, The truth is that tackling such a profound issue is never going to be straightforward and easy.
I truly commend her for trying something. This is the kind of political risk taking that is not done often enough.
SIPS 20th Anniversary
When the glow from summer sunsets blankets William Penn atop City Hall, a rush of nine-to-fivers flock to the streets for one thing: Center City SIPS, the city’s most expansive and hotly debated happy hour.
This year marks two decades since the summerlong Wednesday night happy hour began, bringing thousands to Center City District over the years. For its 20th anniversary, SIPS is delivering discounts from more than 70 businesses, a social area in Dilworth Park with a roller rink, and the creation of its own craft beer in partnership with Broad Street Brewing.
Every Wednesday, 5 p.m. to 7 p.m., from June 5 through Aug. 28, many venues will be offering $7 cocktails, $6 wine, $5 beers, and half-off appetizers. Some restaurants will take 15% off your dinner bill after 7 p.m.
A free preview party will take place May 22 from 5 p.m.-7 p.m. at Dilworth Park, where SIPS patrons will enjoy live DJs, giveaways, and booths from Hornitos Tequila and Broad Street Brewing, including the reveal of Broad Street Brewing’s SIPS Summer Splash, a Mexican-style lager with lime, available throughout the summer at Dilworth Park’s Air Grille.
SIPS turning 20 is a beautiful thing. Some of my fondest memories in my early twenties are from popping out of work on a sunny Wednesday afternoon, and enjoying a couple beers with coworkers, and my friends who worked in the city.
One of the amazing elements of living in a city is the emergence of these weird types of cultural phenomenon. Who would have thought a city wide happy hour on Wednesdays would have lasted 20 years!
Cheers to 20 more birthdays 🍾🍻.
Making Knowledge Functional 🧠🏋🏻♂️
We have not yet realized that slightly above average understanding of a concept alone does not make them inherently valuable to other people.
I feel quite ugly having written that sentence, but I mean it in a sincere, non-jerky sort of way.
In the past, having particular knowledge about something was actually a net benefit to those around you. Technically, it still is a net benefit, but only if you couple it with the ability to explain it clearly to others, and use it as a framework to think through other problems.
I’m a firm believer that you ought to invest in the soft skills, such as verbal and written communication, emotional intelligence, critical thinking, etc.
AND / OR
become a true subject matter expert on something.
My whole theory on this is that slightly above baseline knowledge and understanding, while awesome to have, is easily acquired now via internet search engines, and can be made even more digestible with the use of LLMs.
For example, I have slightly above average understanding of how to write DAX functions, but I would be a fool to think that alone is some incredibly valuable knowledge to have for my employer. While nice, anyone can come in, study DAX functions for a few days, and have a similar understanding. They might even become more effective by just prompting AI tools to write formulas for them!
Instead, connecting the dots and knowing how and when to use the DAX functions if presented with a certain business problem, how to explain the methodology in a simplistic way (i.e could you explain it to a 5-year-old), and building a solution that solves the problem at hand are what actually matter.
So, yes, knowledge here is important. But, you need to be able to use it in a functional manner, otherwise you’re simply existing as a less comprehensive page of the internet 🤷🏻♂️🤷🏻♂️.
NBA Playoffs Check-In
Round 1 of the playoffs is well underway, so let’s take a look at some of the interesting things that have bubbled up in a few of the matchups:
The Denver Nuggets and Los Angeles Lakers defy the laws of NBA playoff games (Denver leads 3-0)
Game 1:
Game 2:
Game 3:
It’s incredible - the Lakers are roaring out to take early leads, and then are powerless to stop the Nuggets from overtaking them later in the game.
What’s even more interesting is that this is reminiscent of their matchup in last years conference finals, when Denver overtook a few Laker leads in the third and fourth quarters as well on their way to sweeping the Lakers 4 games to 0.
It certainly speaks to the brilliance of Nikola Jokic, who seems to be able to generate a good shot for his team nearly every possession. Still, it doesn’t quite add up that the Lakers can’t hang onto some of these sizable leads they’ve jumped out to. They’ve now lost 11 straight games to the Nuggets in the playoffs and regular-season 😳😳😳.
Here’s the Jamal Murray game winner that effectively ended the series after two games:
The Timberwolves on the cusp of a statement series win vs. the Phoenix Suns (Timberwolves lead 3-0)
Previously we discussed the blooming greatness of Anthony Edwards. He’s now arriving on the big stage, and he might have a good enough supporting cast to do some more incredible things this season.
Taking a 3-0 lead on this Phoenix team is not something to brush off lightly, but it’s the way in which the Timberwolves are doing it that is so impressive.
Their defense is proving to be amongst the more elite units we’ve seen in a while, and they have enough juice on offense, given the rise of Edwards, to win games convincingly.
Here’s Anthony Edwards torching Phoenix in game 3:
If Denver and Minnesota take care of business, it sets up a tasty round 2 matchup between them!
We might be heading towards a classic: NY Knicks vs. Philadelphia Sixers (Knicks lead 2-1)
This series has been tough to watch. I grew up a Knicks fan (and still am), but I do have a lot of love for the Sixers! These games have been physical, extremely close, and have a flair for the dramatic that any good form of live entertainment should have. Check out this insane ending to game 2! My jaw was on the floor…
I thought it was possible that loss, in that fashion, could crumble the Sixers. That wasn’t the case as Joel Embiid went for a playoff career-high 50 (!!!) points to lead the Sixers to a game 3 victory. This one might be going long, making up for missed time as the Sixers and Knicks haven’t met in the playoffs since 1989.
Some songs to end the week…
I Miss You - Harold Melvin and the Blue Notes
Paid in Full - Eric B. and Rakim
Corazón sin Cara - Prince Royce
See you all soon ❤️.
-Tiko
HEAT CULTURE
"poetry about eating kiwi’s with the skin on"
I wonder if it's the first time in the history of the world that poetry has been written about this specific topic 🤔