00:01Welcome back, everyone, to Bloomberg This Week in our BTW.
00:04I'm Carol Massa with Joe Matthew.
00:05Here are some stories you might have missed this week, thanks to Lisa Mateo.
00:10We've been primed. We've been laughing already.
00:12These are the good stories. This is the fun one.
00:14These are fun. Are you guys runners? Like, do you jog?
00:16No, absolutely not.
00:18Absolutely not!
00:21I'll always be honest.
00:23Fun fact, I actually ran the New York Marathon.
00:25Wow.
00:25You are amazing.
00:26I would never do this next story, okay?
00:28This is from the Wall Street Journal.
00:30Wine, cheese, and 26.2 miles.
00:33What could go wrong, guys?
00:35I don't know.
00:35Okay, so this is happening on September 5th.
00:38Runners are taking part. It's the Marathon du Medoc.
00:42It's a course through France's Bordeaux region.
00:4420 wine stops along the route.
00:47So you're running, you're stopping, you're having a little wine, a little cheese, some croissants, some oysters.
00:53That could go very wrong.
00:54Ice cream, too, apparently.
00:56Ice cream, steak? I know. It's crazy.
00:58Look at that.
00:58Wow.
00:58But this is something, you know, you have about six and a half hours to complete the race.
01:02Otherwise, you have to step off.
01:04It's the 40th celebration.
01:05This has been going on.
01:078,500 slots sold out in nine minutes.
01:10Are you kidding me?
01:11People are into this.
01:11So this is like, these are the first growth chateaus of the Medoc, as you said.
01:16So this is really nice stuff.
01:17It's good stuff.
01:18There are 20 of them.
01:19Okay, yes, 20 wines.
01:20I read in this piece.
01:21People dress in costumes.
01:22So you're drinking 20 glasses of wine while you're running a marathon?
01:25We've already asked the question, like, what happens when you have to go to the bathroom?
01:28Yes.
01:29You pop in a vineyard and you...
01:31In the fields, is what you're saying.
01:32Is that right?
01:33Yeah.
01:33And you relieve yourself, I guess.
01:34There's a quote in here that says, we were dropping trow in the vineyards.
01:38Bam.
01:39Wow.
01:39Okay, okay.
01:41I'm missing a lot here.
01:42They say it's not about getting drunk and that you should drink and spit like you...
01:46Drink and sample wine.
01:46Yes, exactly.
01:47I'm sure a lot of that is going on.
01:48Because they're saying...
01:50Maybe this will get me to start running.
01:52I don't know.
01:52That is true.
01:54It could be a push for you, Joe.
01:55I don't know.
01:56Where people drink a lot of wine, it is at weddings.
02:00Yes.
02:00So do you need a big wedding party?
02:02This is from the New York Times, okay?
02:04So this is a new trend.
02:05A lot of brides and grooms, they're shrinking their wedding parties down.
02:09So they're going, let's say...
02:11Let's say for mine, I had like four and four.
02:13Yeah.
02:13Four bridesmaids, four groomsmen.
02:14Okay.
02:15Now they're doing maybe one.
02:16Or none.
02:17None.
02:17Really?
02:18Yeah.
02:18Because there's a couple of reasons.
02:20Why not just a lope?
02:21True.
02:22It'll be less expensive.
02:24Absolutely.
02:24But that's...
02:25Expense is the reason.
02:26They don't want to kind of burden the bridal party with the expense of, you know, you have
02:30the outing, you know, before you go...
02:32We've all had one of those dresses.
02:34They've gotten much better.
02:35The dresses.
02:36Oh.
02:36Just saying.
02:37So this is one of the reasons.
02:38And so people are saying that this is what they're doing.
02:40It's a new thing.
02:41If you remember...
02:42Who was it that just had the wedding?
02:43The big celebrities.
02:44Taylor Swift.
02:44Taylor Swift.
02:45And Travis Kelsey.
02:46Wait, they got married?
02:47I'm just kidding.
02:48Where?
02:48But they had a small...
02:50Like, she had her brother and he had his brother.
02:52And that was it.
02:52Yeah.
02:53So a lot of people are starting to do that.
02:54They say that's the way to go.
02:55I see that in my family.
02:57Weddings are much smaller.
02:59Very intimate.
02:59Sometimes it's just immediate family.
03:01It's kind of much smaller.
03:02Not always a sit-down dinner, either.
03:03No.
03:03We might do some stand-up hors d'oeuvres or something like that.
03:06Send everybody home.
03:07Yeah.
03:08The times are changing.
03:09I had, like, the big shebang.
03:10You did, huh?
03:11I had the DJ, the Latin band, the 200 people.
03:15All right.
03:16Can you do that again?
03:17That sounds like a lot of fun.
03:18We want pictures.
03:19People from other weddings were coming into our wedding.
03:21Amazing.
03:21Yeah.
03:21All right.
03:22Well, you know how to party.
03:23But it's changing.
03:24Times have a change because expense is a real thing.
03:28Yeah.
03:28Another cost for it.
03:29Message to our kids.
03:30Yes.
03:31No kidding.
03:31It's okay.
03:32Keep it easy, guys.
03:32Keep it small.
03:32Well, that's what I told my son.
03:33I was like, if you guys decide to get married, do a little thing.
03:36Don't worry about it.
03:37Don't give me money.
03:37You can maybe buy a house.
03:38Give your mother a break.
03:39Yes.
03:40Give your mother a break.
03:42Something guys might wear at weddings is starting to bring back the popularity of it.
03:48We're talking about suits, okay?
03:49This was in Bloomberg.
03:50Right.
03:51Suit sales.
03:52That's right.
03:52They're rising as shoppers rediscover the joy of dressing up.
03:56So, yes, wedding's a big part of it, okay?
03:58I know you love your suit there, Joe.
04:00Well, yeah.
04:01But a lot more people are doing it.
04:02Because remember, it was the back to work, the cash thing.
04:04Yeah.
04:04This is still a COVID recovery, is it not?
04:06A little bit, yes.
04:07Remember we referred to wearing hard pants when we had to all go back to work?
04:11They thought we would never wear suits again.
04:14Now it's back and forth.
04:14And people are starting to wear them.
04:16A couple of things.
04:17The return to work is getting a little bit fancier, but GLP-1s are making people lose weight,
04:21so now they have to get resized and refitted.
04:23So they need brand new suits and brand new, you know, wardrobe to go out.
04:27So they use it like another form of expression, bold colors.
04:30I don't know if you do the coral pink jacket, Joe.
04:32As if I could get away with that.
04:34No.
04:34You got the pink shirt.
04:35Well, yeah.
04:36I feel like our Mike McKee does some nice colors in the summer.
04:38That's true.
04:38He's got like those coral rose pants.
04:40Paul Sweeney, no stranger to the salmon jacket.
04:44Matt Miller is rather dapper.
04:47So that's what it's about.
04:48It's about doing that.
04:48Matt Miller, I think he was worn in a suit.
04:51And a leather jacket.
04:52Yeah, that's how I picture it.
04:54A leather jacket with a cowboy hat.
04:55Yeah, yeah.
04:56And the boots.
04:57You got to have the boots.
04:57Women, too.
04:58Women, too, wearing suits.
04:59And women, yes, women, too.
05:00And that's starting to increase it, too.
05:02Like the double-breasted, too.
05:03It's very silent.
05:04When I started doing all of this, we always had a suit on air.
05:07And then it went very casual or like a little dress, a little top.
05:10And now I do feel like it's going back again.
05:12It is.
05:12It is.
05:13I'm good with it.
05:13You've got to do it.
05:14Absolutely.
05:14What is Gen Z up to?
05:15We have Gen Z-ers, right?
05:17This is 19 to 29.
05:18Yeah.
05:18I can't keep track.
05:19What are they up to nowadays?
05:20I don't know.
05:20So let's see.
05:21Gen Z, they're moving money from stocks to sports betting.
05:25I love this story.
05:26And we have plans.
05:27This is crazy.
05:28Okay, so more than a quarter Gen Z, they're saying they see gambling on sports as part of their
05:32long-term financial strategy.
05:34What is going on?
05:36I don't know.
05:37This is another kind of a COVID thing, right?
05:38All the sports bettors became stock investors at that point.
05:42Now they're going back to sports.
05:43I guess it's more fun.
05:44But they're taking, rather than doing traditional investing, and they're doing sports betting
05:48instead.
05:49They are.
05:49And what they're saying is that, because of things like housing affordability, what they're
05:53using this as is a way to reach their financial goals faster.
05:56They're like, this is going to make me quick money.
05:58By gambling.
05:58Yeah, exactly.
06:00And I don't know.
06:01My son got caught in it for a little bit.
06:03And then he kind of said, you know what?
06:05I lost, and I'm out.
06:07Good way to get your hands cut off.
06:08But it's very tricky.
06:10I mean, they send you all these things like, here's a coupon, and here's some free coins,
06:13and here's some free...
06:14To keep you engaged, right?
06:15Well, a lot of these investment apps look somewhat like gambling sites, too.
06:18And they're just kind of merging into one thing.
06:20It's gamification of society, but, you know, the house always wins, so I'm just going to
06:25say, just something to think about as you start to build your, you know, retirement
06:30nest egg.
06:32Yeah, retirement account on sports betting.
06:34Up to investors for later.
06:36Lisa, thank you.
06:37Thanks, Lisa.
06:37Thanks, Lisa.
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