This is Nick. This is Jack. It’s official. Tinder’s premium dating subscription has launched for $500/month. “Tinder Select” (Plus Max?) is invite-only for active users. You get “VIP” search, VIP matching, VIP conversation…and a dent in your credit rating. Love is expeeeennsiiive. For $500/month, the app should be swiping for you.

Something new (*A-B-L-E): We’re launching a new Ask Us (Almost) Anything feature. Here’s how it works: You submit a question here and then look out for our answer in future newsletters. Let’s see what you can come up with…

*A-B-L-E: Always Be Launching Everything

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1) Netflix Will Let You Keep the DVDs Today (and Forever)

After 25 years, Netflix is sending its final DVDs today—marking the end of a 25-year run holding court in your Grandpa’s living room.

DVDs were Netflix’s key to disrupting Blockbuster. From 1998-2008, Netflix was just a company that sent DVDs in red envelopes to your mailbox (that thing outside that you check 1x/month).

• 💿 Their policy: no due date, no late fee, and a new DVD when you return your rental.

• 💿 At its height, Netflix had 186 distribution facilities, 1M DVD rentals per week, and 1-day delivery for 99% of customers.

• 💿 DVDs made Netflix the US Postal Service’s 5th largest customer.

Then everything changed. There were whispers of streaming—a major threat. Netflix had to choose: disrupt or be disrupted (aka “The Innovator’s Dilemma”). You know what they chose…self-disruption.

The Takeaway →

Netflix pulled off the greatest pivot of the 21st century (in knee-slapping fashion). Grab your Skinny Pop—this one’s good.

• 🎬 When launching streaming, Netflix CEO Reed Hastings moved the DVD team to a separate building, essentially creating two separate companies.

• It was an awkward (and expensive) ((and drastic)) move—but it worked.

Total physical separation of the two teams internally helped Netflix Streaming disrupt its own Netflix DVD biz.

2) Costco Is Selling Out of Gold Bars

Costco just sold out of gold bars. You read that right. Costco—the go-to destination for stocking up on Kirkland Hickory Smoked Bacon and grabbing a $1.50 hot dog on your way out—also sells literal bars of solid gold.

For $1,980, you could purchase a solid gold bar on Costco.com (limit 2 per customer). But Costco ran out of gold fast. On its most recent earnings call, Costco’s CEO reported that they were “selling out in minutes.”

• Why shoppers are rushing for gold: It’s precious. Like silver or platinum, it’s traded in financial markets.

• Over the past 5 years, gold has even outperformed the S&P 500 (it’s up 55% to the market’s 49%).

But there’s a financial reason for their interest too…

The Takeaway →

There’s a strong correlation between fear and gold prices. Gold’s appeal during uncertain times comes from its intrinsic value—humans have valued gold for hundreds of years worldwide. But while gold has intrinsic value, it doesn’t create value—stocks, bonds, and other financial assets can generate income, gold can’t. But Costco shows gold is still the world’s emergency survival pack for $.

Full Disclosure: This is Jack and I am a recent Costco member. I’m not buying bricks of gold (sold out), but here are some of my fave Costco finds:

🥭 Mango & Peach salsa (better than ceviché IMO)

🥣 10 lb box of oats

🍿 Enormous box of popcorn

🍫 Guilty Pleasure (chef’s kiss)

🏖️ Tommy Bahama Beach Chair

3) ChatGPT and the iPhone Designer Bring AI to Life

ChatGPT gained three senses, and now it’s taking a physical form. Who needs a pet anymore?

🤖 ChatGPT then: a website and app that required you type prompts. Responses came back as texts.

🙈 🙉 🙊 ChatGPT Now: it’s alllliiiiivvvvee—ChatGPT now has the ability to see, hear, and speak. In the next two weeks, Enterprise and Plus users will be able to have a full-on conversation with ChatGPT. Picture this: While hands-deep in meatball meat, you can ask ChatGPT for a wine suggestion, without getting juices on your phone screen.

And there’s a plot twist: The designer of the iPhone, Jony Ive, is reportedly working on an AI hardware device with ChatGPT parent co OpenAI.

• 📱 Ive left Apple in 2019 and has since buddied up with OpenAI CEO Sam Altman.

• 🦾 They’re collab-ing to make the physical embodiment of ChatGPT.

• 🤖 Imagine an AI iPhone, ChatGPT Beats, or one-upping Alexa with an AI home device that could see what’s in your fridge and tell you what you should make for dinner.

The Takeaway →

This is all about the companionship economy. Most interactions with tech are one-way—but AI mimics two-way human conversation. Now, a ChatGPT home device might reassure you when you’re cooking dinner for your in-laws, rather than just spitting out the best no-fuss recipes. Future tech has a different use case that requires a different product: one that’s built for companionship.

👟 Nike’s stock fell 2% on a disappointing earnings report. Its worst performer? Converse is getting benched.

🥬 The Cannabis Banking Bill just moved past committee and is headed to the Senate for a vote. If it’s passed, this won’t legalize marijuana, but it will let cannabis companies use banks if weed’s legal in the state.

🤖 Mark Zuckerburg just announced a bunch of AI chatbots will soon show up on Instagram and WhatsApp. You can make yours talk like Tom Brady or 27 other celebs.

🙏 Delta Just apologized for making changes to its SkyMiles loyalty program. The CEO says it went “too far.” (Agreed.)

🔨 Microsoft wants to be carbon neutral so badly that it’s building its own nuclear power plants.

🛰️ Space truck manufacturer Sierra Space raised $290M at a $5.3B valuation. It made the first commercially-owned and -operated space station called Orbital Reef.

💰 JP Morgan Chase completed 10 years of investment ($200M) in Detroit in an effort to rebound the city.

🎙️🎙️ On the pod today—Levi’s CEO is stepping down. His biggest regret? Should’ve fired more people. So we’ll tell you our favorite HR rule: Hire sloooooow, fire fast.

And one more thing. First movie Netflix shipped as a DVD: Beetlejuice. Your go-to throwback DVD?

—Nick & Jack