enRICHed: Volume 18
The Comparison Trap
In compiling all of our community wins a few weeks ago, we were touched by not only how successful everyone was last year, but also the breadth by which “win” was interpreted. It takes mental fortitude to look at that list and not feel badly about yourself, and instead see a world of possibilities. As new year resolution season is still in swing - we wanted to pass along the below quote from Ram Dass, to help you in those moments when you might want to judge yourself versus those around you.
“When you go out into the woods and you look at trees, you see all these different trees. And some of them are bent, and some of them are straight, and some of them are evergreens, and some of them are whatever. And you look at the tree and you allow it. You see why it is the way it is. You sort of understand that it didn’t get enough light, and so it turned that way. And you don’t get all emotional about it. You just allow it. You appreciate the tree.”
A few administrative reminders below:
HYCU, pronounced ‘haiku’: how the news impacts you and your wallet, aka How You Can Use
Spilling the Prosperitea 🫖 : our hot tips for you on all things money. Think discount codes, hacks, non-boring finance articles, sales, etc.
Now that you’re up to speed, let’s get you enRICHed.
December CPI
The December CPI report came out this week with news that prices fell 0.1% in December. This seems inconsequential, but because it was in line with consensus, the stock market was happy, within reason.
The biggest reason for the easing in inflation came from a sharp drop in gasoline prices, which are now lower on a year-over-year basis. Gasoline prices were down 9.4% on the month, while shelter was up 0.8% and food was up 0.3%.
HYCU; while December CPI was down, prices were still 6.5% higher YoY. Just because you are paying less at the pump, doesn’t mean it’s happening across the board. While we are moving in the right direction, at 5.7%, core CPI (CPI without food and energy) is well above the Fed’s 2% target rate.
NFL’s Mental Health Stance
After Damar Hamlin collapsed during the Bills-Bengals game January 3rd, NFL players wept on the field. The scene swept across media channels, as people commended the coaches and players for their unified reaction and concern.
Roger Goodell issued a statement the following night, detailing mental health services available to the players and staff during Damar’s recovery. Athletes, especially those at a professional level, have been found to compartmentalize rather than working through strong emotions - so this public movement is allowing them space for their grief.
HYCU; NFL regular season games averaged 17.1 million viewers in 2021, with some games reaching up to 40 million Americans. For the league to speak out publicly, offering support to some of the strongest athletes in our country, is a huge step in squashing the stigmas around mental health. Hopefully this conversation trickles down to the youth athlete level, and continues to remind children and young adults that their heroes are human too.
NYC Nurses on Strike
Over 7,000 nurses were on strike this week at 2 New York City hospitals, Mount Sinai Hospital and Montefiore Medical Center in the Bronx. After three days, they were able to reach a tentative deal with the union.
The deal mainly hinged on an adequate nurse-to-patient ratio, with nurses sometimes responsible for up to 30 patients at a time. The hospitals will input new safe staffing ratios and financial penalties for failing to comply with safe staffing levels in all units. The deal also includes a 19% pay increase over 3 years, but that played second fiddle.
HYCU; the tentative deal means safer care for patients and more sustainable jobs for the nursing profession, but the strike itself shows how undervalued our nurses are. Strikes have happened in 4 other big cities in the last year, as nurses echo sentiments about unsafe conditions for themselves and their patients. All of these things are driving people away from the job all together, so hopefully this story is a wake up call that it’s not always about the money, but about the work environment.
What’s Going on in California
California has been hit by some powerful floods, called atmospheric rivers, in the past week. What’s an atmospheric river? “They form when winds over the Pacific draw a filament of moisture from the band of warm, moist air over the tropics and channel it toward the West Coast. When this ribbon of moisture hits the Sierra Nevada and other mountains, it is forced upward, cooling it and turning its water into immense quantities of rain and snow.”
According to California’s emergency agency and private weather forecasters, these storms could end up costing the state more than $1B. This number comes from physical damage to homes, businesses and municipal properties.
HYCU; we are seeing storms all over the United States this month, from tornadoes to floods, that have a massive impact on public infrastructure spending. For you though? Your standard home owners policy might not include flood insurance, so if you’re thinking about moving to somewhere that’s becoming regularly affected by severe weather, you’ll pay more for the add ons.
The Future of Micromobility in Paris
On March 23rd, Paris officials have to make a decision regarding the +15K electric scooters scattered around the city. Paris was one of the first ever cities to allow e-scooters - and now they have to decide whether or not to renew the licenses of these companies.
Though you may be familiar with Lime, at one point there were 12 electric scooter brands with fleets in Paris. It has been difficult to police them from a safety and clutter standpoint - both major parts of the renewal conversation. The 3 major players, Dott, Lime and Tier, will await the decision from a divided city.
HYCU; These companies raised millions in VC money, and at 2M rides a month, the investment seemed like a home run. However, experts believe that the decision in Paris could be followed by cities worldwide - affecting not only the world of micromobility startups, but also the people who use those scooters as an effective and affordable way to get around.
Rich Tip of the Week: Don't Waste Your Money (video link w/ sound)
Why are your eggs so expensive? Two words: Bird flu
Bachelorette Parties have become a luxury experience, with a luxury price tag
& for good measure, some holiday weekend sales (80+ sales going on)
