NYC’s Congestion Pricing Actually Working? & Companies Want Ivy-Leaguers Again

Key takeaways

NYC's congestion pricing has effectively reduced traffic while increasing public transit use.
Companies are retreating to elitist hiring practices amidst a slower job market.
There is a cultural shift towards strength training, with gyms adapting to meet demand.
Pizza's prominence in American cuisine is rapidly declining due to increased competition and rising prices.
Recent events in Venezuela highlight volatile political climates affecting not just the local but global ramifications.

Summary

NYC’s Congestion Pricing Impact

Neil and Toby discuss the initial year of New York City's congestion pricing, revealing that it has successfully reduced car traffic in Manhattan by approximately 11%, equating to 27 million fewer vehicles. Public transit use has increased without negatively impacting local businesses, as foot traffic to Times Square and surrounding areas has risen. While some residents express concerns over reduced access to the city, overall, the policy appears to be achieving its goals of improving traffic flow and increasing public transit revenue.

Shifting Job Market Trends

The podcast highlights a noticeable shift in hiring practices, with companies reverting to sourcing talent from elite colleges, a considerable jump from the previous focus on diversity in hiring that aimed to reach a wider talent pool. A survey indicates that 26% of employers now target a small list of prestigious schools, driven partly by the increasing need for in-person work. The conversation raises concerns about the implications for graduates from less prestigious institutions as the job market tightens.

The Rise of Weightlifting

This segment discusses a significant trend where Americans, particularly Generation Z, are favoring weightlifting over cardio workouts. The CEO of Planet Fitness indicates that gyms are adapting their layouts to reflect this change, allocating more space for strength training as revenue climbs. Social media influences and health trends have contributed to this pivot, with an increase in interest for strength training workouts as compared to traditional cardio.

Declining Popularity of Pizza

Toby explores the concerning trend of pizza falling out of favor in America, now ranking 6th among U.S. chain sales, a drop from its long-held position. Factors contributing to this decline include rising prices and increased competition from various cuisines made accessible through delivery apps. The podcast also touches on shifting consumer preferences, particularly among younger generations, who are increasingly opting for alternatives like sushi for social gatherings.

Final Headlines

In closing, Neil and Toby somberly discuss the ongoing political situation in Venezuela, where President Nicolas Maduro and his wife have entered a legal battle following their arrest. Additionally, the episode notes the historic works entering the public domain, inviting opportunities for creative reinterpretation.

Show notes

Episode 751: Neal and Toby chat about one year’s worth of data of NYC’s congestion pricing. And so far, it looks pretty promising. Then, companies that opened their doors for applicants coming from all over have reverted back to seeking those coming from elite colleges, thanks to a slower job market. Also, Americans, particularly Gen Z, would rather pump some iron than do cardio. Meanwhile, Toby dives into the trend of a shrinking love for pizza across the country. Finally, a quick wrap of final headlines for the day!

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