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Inside an exclusive, $56,000-a-year NYC private school, where Wall Street execs and tech millionaires send their kids and every student gets a MacBook and an iPad

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avenues nyc

Avenues: The World School is a private school in New York City for nursery through 12th grade that costs $56,400 per year.

Avenues operates campuses in New York City, Sao Paolo, Brazil, and Shenzhen, China. The New York campus was the first to open in 2012, but Avenues plans to build campuses in at least 20 cities in the next decade, including Abu Dhabi, Beijing, Dubai, Hong Kong, London, Miami, San Francisco, Silicon Valley, and Singapore. Avenues wants to be thought of as "one school with many interconnected and interdependent campuses located in the world's leading cities," according to the website.

Parents of Avenues children reportedly range from hedge-fund managers and entrepreneurs to tech millionaires and celebrities. Suri Cruise, the daughter of Katie Holmes and Tom Cruise, reportedly attended the school

Students at Avenues are given MacBooks and iPads, take yoga and dance classes, and graduate fluent in either Mandarin or Spanish.

Tuition includes all books and materials, field trips, transportation to and from school activities, lunch, snacks, athletic uniforms, and educational technology such as the Apple products.

I took a tour of the New York City campus in Chelsea with Alissa Dufour, the school's communication director. Here's what it looked like.

SEE ALSO: The admissions director at a $56,000-a-year private school in NYC says there's a key quality they look for in a student, and it has nothing to do with intelligence

DON'T MISS: A day in the life of a Google senior director, who gets up at 5:30 a.m., attends up to 12 meetings a day, and has a 'no screens' rule with her family

Avenues: The World School is a private school in New York City for nursery through 12th grade that costs $56,400 per year.

The 1,650 students come from all over Manhattan, parts of Brooklyn, the Bronx, Hoboken and Jersey City, and even from as far as Long Island and Western Connecticut — often because their parents already commute into the city, according to David Buckwald, the director of admissions.

Parents of Avenues children range from hedge-fund managers and entrepreneurs to tech millionaires and celebrities. Suri Cruise, the daughter of Katie Holmes and Tom Cruise, reportedly attended the school

Avenues also attracts international families who are living in New York and who perhaps have multiple citizenships, Buckwald said.



The school is in Chelsea, an affluent Manhattan neighborhood just south of Hudson Yards, the city's new $25 billion development.

Avenues operates campuses in New York City, Sao Paolo, Brazil, and Shenzhen, China.

The New York campus was the first to open in 2012, but Avenues plans to build campuses in at least 20 cities in the next decade, including Abu Dhabi, Beijing, Dubai, Hong Kong, London, Miami, San Francisco, Silicon Valley, and Singapore.

Students can also take online courses.

"One [of our students] is a pre-Olympic athlete, one is starring on Broadway, and they're able to take a semester leave of absence but stay enrolled in Avenues through our online campus," Buckwald said.



Chelsea, an area known for its art galleries, is one of the city's wealthier and more expensive neighborhoods.

The median household income in Chelsea is $111,665, as compared to $60,762 citywide.

And the median sale price in Chelsea in 2019 was $1.2 million, according to Property Shark.

Approximately 16% of students at Avenues receive financial aid, Buckwald told me, and the school provided more than $9 million in financial aid for the 2018-19 school year.

Avenues, I noticed, is right across the street from public housing, the Chelsea-Elliot Houses.



I visited Avenues last spring for a tour of its campus and to speak to the admissions director.

Avenues is a highly selective school and uses a holistic admissions process, which means they "look at many components of an application or a candidacy in context with each other and not necessarily relying on one piece more than another or looking at some kind of a formula to predict admissions decisions," David Buckwald, the director of admissions, told me.

The school does not release its admissions rate.



This is the main entrance where students enter the school.

To apply to Avenues, prospective students and parents submit an online application and a $100 fee. The rest of the process varies by grade level. 

For students in nursery, pre-kindergarten, kindergarten, and first grade, Avenues conducts small playgroups to assess potential students, where they watch how students play when they're unsupervised and how they take directions.



After telling security I had an appointment, I checked in at the front desk and waited to be picked up the school's communications director, Alissa Dufour.

If a student is entering Avenues in high school — grades nine through 12 — admissions conducts a conversation with the student.

For the middle grades, Avenues implements what it calls "design challenges," where a potential student is paired up with another applicant at the same level and asked to create an object from random materials provided. During this challenge, the admissions team is looking for signs of empathy, creativity, resourcefulness, collaboration, and a willingness to ask questions.

"We learn a lot about the student and if they may be a good fit here," Buckwald said.



Near the front entrance of the school is Restore, a café where students can grab breakfast, lunch, snacks, pastries and sweets, and hot and cold beverages throughout the school day.

The café is open to parents, faculty, staff, and visitors from 7:45 a.m. to 4:30 p.m. Parents and students pay by swiping their ID badges.  

The school also has its own gift shop selling Avenues swag, which was closed at the time of my visit.



A collection of TV screens displayed school announcements, events, and the weather in Sao Paulo, the school's Brazil campus.

Avenues puts a heavy focus on technology.

Students in kindergarten through fifth grade are issued an iPad Air, grades 6-9 are given a MacBook Air, and grades 10-12 receive both a MacBook Air and an iPad.

Starting in sixth grade, students can take the devices home with them.



The cafeteria was huge and filled with light from the windows overlooking the High Line park.

On the day of my visit, the menu included beef, California turkey, and samosa sliders with a bean mango salsa dip.



I spotted two Bevi machines in the cafeteria, which dispense still and sparkling flavored water.

The healthy food options at the cafeteria included a salad bar, a fruit salad bar, and various fresh fruit up for grabs.

I looked at a sample Avenues lunch menu, and dishes included maple sweet potato soup, whole wheat pasta with "revved up" marinara, a miso chicken rice bowl, all-natural beef burgers with whole wheat buns, spiced sweet potato enchiladas, steamed edamame, roasted zucchini, tabbouleh salad, and organic kale salad.



We went upstairs to check out some of the classrooms, and I was surprised by the lack of individual desks in some of the rooms.

Classes for the upper grades at Avenues are conducted in a seminar style, as they often are in colleges.



Avenues offers Spanish and Mandarin as foreign languages, and from nursery through fifth grade, half of students' classes are taught in one of those languages.

Students will spend one day taught completely in English and the next day immersed in Chinese or Spanish. 

Avenues' goal is to have students fluent in a second language by the time they graduate.



Looking out an upper-floor window, I spotted the High Line park below.

"We try to push students out into the community for science experiments on the High Line," Buckwald told me. "And the first artwork they see beside what's in the school or on their own is right nearby in the [Chelsea] galleries. Pre-K[indergarten]ers doing gallery tours!"



At a student lounge area with a living plant wall, students were chatting, working, and playing chess.

Avenues students don't wear a uniform, but they do have a dress code: Students should only wear black, gray, and white. 



The sports facilities at Avenues include this spacious fitness and weight room.

It comes with weight machines, exercise balls, free weights, treadmills, and rowing machines.



There's also a dance and yoga studio.

Grades nine through 11 at Avenues can sign up for elective fitness classes that include spinning, boxing, yoga, dance, pilates, and martial arts.



Some fitness classes are also taught at the nearby Chelsea Park.

I'd always imagined the main drawback of going to school in Manhattan to be the lack of outdoor space, but Avenues seems to take full advantage of nearby public spaces.



The 20,000-square-foot, full-size gymnasium is on the top floor of Avenues.

Avenues students also have access to sports facilities at nearby Chelsea Piers.

Sports offered at Avenues include soccer, girls' volleyball, cross-country, tennis, basketball, fencing, squash, track and field, baseball, lacrosse, golf, and crew.

There's also a playground on the rooftop.



After touring the main building, I was led a block away on 26th Street to Avenues' newest facility, the Early Learning Center (ELC) & Co.Lab.

The ELC & Co.Lab is home to nursery through kindergarten students on the lower floors, while the top floor is dedicated to grade 9-12 students in science, art, World Course, and English.



This space was home to even more greenery and living plant walls.

All the materials in the four-floor facility were sourced from producers who prioritize sustainability and environmental accountability.



In the ELC, students eat lunch in their classrooms. The fixtures and furniture, including classroom sinks and cubbies, were chosen with the ergonomics of three to six-year-olds in mind.

The natural carpets from renewable sources perform as air filters, reducing airborne dust and allergens, according to the website.



Outside was a spacious play area with tricycles, balls, and even mini-picnic tables.

And just inside is a multi-purpose room for other physical activities.



There is, however, a fully equipped teaching kitchen, where teachers can conduct hands-on culinary projects with students.

Past culinary projects have included making dumplings for the Chinese New Year, for example. 



The upper floor is the Co.Lab, where upper grades have dedicated areas for STEAM subjects: science, technology, engineering, art, and math.

"It's a space for students to work on interdisciplinary projects collaboratively or independently," Dufour told me.

Students can drop in and work on projects both during and after class.



The classrooms in the Early Learning Center feature floor-to-ceiling windows.

The "uniquely designed ceiling treatment addresses room acoustics, height, and act as a system to hang student work as well as provide optimal lighting levels," according to the website.



At the end of the school day, I noticed a line of shiny black cars parked outside the entrance to Avenues. Signs displayed on the windshield displayed a student's first name and grade level.

Dufour later told me that some students get picked up by car in the afternoon by their parents, and others by caregivers. 

They sign up at the beginning of the year and are given a placard, so at the end of the school day, the teacher can read the placard and alert staff inside which child can be dismissed.

"It's just a way to simplify the dismissal process and ensure that students get home safely," Dufour told me.

Many students also take public transportation or ride private buses or buses through the NYC Office of Pupil Transportation, she said. 



To round out my tour, I went up to the High Line to get an alternate view of Avenues. Walking past, I could peek into the cafeteria where I'd been an hour before.

Avenues is too new of a school to have produced any notable alumni at this point. But I could immediately see why its curriculum, student experience, focus on foreign languages, international footprint — and of course, exclusivity — appeal to well-off, global-minded parents and students.




The 17 best resorts in the world, according to travelers

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andBeyond nxabega botswana luxury safari

If you're looking for the best resorts in the world, go to Africa.

Condé Nast Traveler recently released the results of its 32nd annual Readers' Choice Awards survey, which chronicled travelers' experiences, including unforgettable resorts all over the world. 

In the survey, 600,000 voters provided their thoughts on nearly 10,000 hotels, resorts, and global experiences. The resorts that ultimately made the final cut all share an air of luxury, but they span different price points and destinations.

Here are the top 17 resorts in the world. Safari-inspired travel seemed to be popular in 2019, with seven out of 17 resorts being African bush resorts. A couple of private islands in the Maldives made the cut, as did a handful of Irish castles. Only one US resort made the list.

SEE ALSO: The 17 best hotels in the world, according to travelers

DON'T MISS: 9 countries where you can buy a second passport — and what it'll cost you to secure it

17. Ol Jogi Home

Location: Nanyuki Town, Kenya

Starting rate per night: Only available upon request

A 45-minute flight from Nairobi and nestled within 58,000 acres of private Kenyan bush, Ol Jogi Home provides a luxurious, exclusive safari experience with all the usual resort trappings: a gym, tennis courts, yoga studio, and spa. The resort accommodates 14 guests at a time.



16. Esperanza, an Auberge Resort

Location: Los Cabos, Mexico

Starting rate per night: $536

Located on the Baja Peninsula, Esperanza has 57 beachfront suites and villas. It prides itself on offering a variety of experiences, including a ceviche-making class, tequila tastings, whale watching or clam diving excursions, and ATV rides in the desert.



15. Oliver's Camp

Location: Tarangire National Park, Tanzania

Starting rate per night: $409 per person

This safari-oriented resort is in a remote part of a protected park in Tanzania. It is small and intimate; the resort only has 10 tents, including one honeymoon suite. It runs on solar power and has previously been celebrated for its sustainability initiatives. Its most popular activities include night drives into the bush and a walking safari.



14. Dorado Beach, a Ritz-Carlton Reserve

Location: Dorado, Puerto Rico

Starting rate per night:$1,085

Opened by a Rockefeller in the 1950s, Dorado Beach is a luxury community complete with two 18-hole golf courses and two miles of private beach access. 



13. Velaa Private Island

Location: Noonu Atoll, Maldives

Starting rate per night: $3,025

A private island with the largest wine and Champagne collection in the Maldives, Velaa aims to be a resort "beyond luxury." Each of the 45 private villas and residences were built with local materials and the entire resort was constructed in the shape of a turtle. 



12. Angsana Lang Co

Location: Thừa Thiên Huế, Vietnam

Starting rate per night: $135

Angsana Lang Co is a 223-room resort in central Vietnam with proximity to several UNESCO World Heritage Sites. It also has an award-winning spa and a swimming pool that spans the property.



11. Elewana Elsa's Kopje

Location: Meru National Park, Kenya

Starting rate per night: Only available upon request

Situated in a protected park in Kenya, Elewana Elsa's Kopje is close to a rhino sanctuary and boasts regular sightings of elephant herds, hippos, and lions. The tiny resort opened in 1999 and has 11 private cottages, each of which has a deck.



10. andBeyond Nxabega Okavango Tented Camp

Location: Okavango Delta, Botswana

Starting rate per night: $835 per person

Nxabega Okavango Tented Camp is a Botswana safari resort on 61,000 acres of exclusive land. There are nine tents, each with a veranda and an al fresco shower.



9. Naladhu Private Island

Location: South Male Atoll, Maldives

Starting rate per night: $1,155

Twenty houses, each with a private pool, make up the private island of Naladhu. With "blissful seclusion" at the center of its mission statement, the island has a 24-hour butler service, private dining, and in-residence spa experiences.



8. Deplar Farm

Location: Ólafsfjörður, Iceland

Starting rate per night: $2,612

Deplar Farm is a lodge on a converted sheep farm that features just 13 guest suites and a state-of-the-art spa. Typical activities in the area include heli-skiing and salmon fishing.



7. Dromoland Castle Hotel & Country Estate

Location: Co. Clare, Ireland

Starting rate per night: $279

Dromoland Castle, the ancestral home of the prominent O'Brien family dating back to the 16th century, became a resort in the 1960s. Popular activities include falconry, horseback riding, and archery. There is also a full-service spa and an award-winning golf course.



6. Richard's River Camp

Location: Masai Mara National Reserve, Kenya

Starting rate per night: Only available upon request

Established in 2006 as a getaway for a young conservationist couple, Richard's River Camp is a seven-tent resort that accommodates 16 people at a time. The intimate resort was entirely furnished and decorated by the couple with fabrics and pieces collected through their own travels. The camp offers driven safaris, bush walks, and even hot air balloon flights.



5. Adare Manor

Location: Limerick, Ireland

Starting rate per night: $383

A two-hour drive from Dublin, the Adare Manor is located on 840 acres of private green. There is an award-winning golf course and a Michelin star restaurant on site, as well.



4. InterContinental Danang Sun Peninsula Resort

Location: Da Nang, Vietnam

Starting rate per night: $389

The InterContinental's Danang Sun Peninsula Resort is a beachfront property nestled in a nature reserve and close to UNESCO World Heritage sites. The resort has amenities like half a mile of private beach and a wide array of spa treatments, from holistic therapies to pedicures.



3. Chindeni Bushcamp

 Location: South Luangwa National Park, Zambia

Starting rate per night: Only available upon request

Overlooking a hippo lagoon, Chindeni is a bushcamp retreat. It consists of four canvas lodges that can accommodate eight guests. The resort runs on solar power and is only open from May to December.



2. L'Horizon Resort & Spa

Location: Palm Springs, California

Starting rate per night:$728

L'Horizon is made up of 25 bungalows that were all designed to feel like private residences, with different finishes and furnishings. The property was built in 1952 as a getaway for Hollywood producer Jack Wrather. There, he hosted guests like Marilyn Monroe and Ronald Reagan. It was redesigned as a luxury resort, complete with al fresco dining and an expansive spa, in 2015. It is the only US resort to make the top of Conde's list.



1. Sirikoi Lodge

Location: Lewa Wildlife Conservancy, Kenya

Starting rate: Only available upon request

Situated on 68,000 acres of wilderness in Northern Kenya, Sirikoi Lodge was built by a conservationist couple. It can accommodate 18 guests and its intimate setup includes one main lodge, a cottage, and four elevated tents, all with private outdoor decks. A staff of 68 people facilitates all lodge activities, including bush walks, game drives, helicopter excursions, and private dining.



The Amex Centurion 'black' card has a $2,500 annual fee and is invite-only, but you can get most of its benefits with the Amex Platinum

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Business Centurion Card Amex

Also known as the Centurion card, the American Express "black" card is so prestigious that you have to be invited to use it. Yes, you read that right — you can't just apply for it and expect to get approved. You have to receive a private invitation from American Express.

So, how do you get an invite for a black card? While the requirements aren't officially published, rumor has it that you have to be a high earner who has spent and paid off between $350,000 and $500,000 across all of your American Express accounts in a calendar year.

And once you're approved for the card, there's a $7,500 initiation fee, and a $2,500 annual fee. It makes premium credit cards like the Amex Platinum ($550 annual fee) and the Amex Business Platinum ($595) look downright affordable. Plus, as The Points Guy reports, the annual fee is increasing to $5,000 starting in April 2020!

Keep in mind that we're focusing on the rewards and perks that make these credit cards great options, not things like interest rates and late fees, which will far outweigh the value of any points or miles. It's important to practice financial discipline when using credit cards by paying your balances in full each month, making payments on time, and only spending what you can afford to pay back. 

Benefits of the Amex black card

Aside from its appeal as a status symbol, the Amex black card offers the following perks:

Hotel elite status

With a black card, you can lock in hotel elite status at four major hotel chains: Marriott, Hilton, Intercontinental Hotels Group, and Relais & Châteaux. Hotel elite status gets you sweet benefits like room upgrades, late checkouts, resort and spa credits, and free breakfast.

The Amex Platinum and Amex Business Platinum offer status with Hilton and Marriott, but not with IHG and Relais & Châteaux.

Read more:Credit cards that get you hotel elite status just by having them in your wallet

Delta elite status

According to The Points Guy, the black card also offers cardholders Platinum Medallion elite status with Delta. You can't get this benefit with any other credit card, and it offers you perks like complimentary upgrades and bonus miles. 

Airport lounge access

There's nothing better than knowing you have access to a comfortable airport lounge while you're traveling, especially if you have a long layover. The Amex black card gets you free access to more than 1,200 airport lounges around the world, including Amex Centurion Lounges, Delta Sky Clubs when you're flying Delta, and Priority Pass airport lounges. You can sit back and relax on the comfortable chairs while indulging in some good food and drinks.

The airport lounge access you get as a Centurion cardholder is virtually identical to the lounge access you get with the Amex Platinum and Amex Business Platinum.

Equinox membership

The Centurion card added several new perks in late 2019, along with the announcement that Amex would be raising the annual fee. One of the most valuable new benefits is Equinox Destination Access Membership, which lets Centurion cardholders use any of the 100-plus Equinox gym locations in the US, UK, and Canada. This membership costs $300 per month plus a $500 initiation fee, so it's quite valuable if you're a fan of the high-end fitness club chain.

Unsurprisingly, there's no comparable benefit on the Platinum and Business Platinum cards. 

Up to $1,000 per year in Saks Fifth Avenue credits

The Amex Platinum offers up to $100 in credits for Saks Fifth Avenue per year, so it's only fitting that the Centurion has an even better version of this perk. 

Starting in 2020, Centurion cardholders will get up to $1,000 in credits for Saks purchases — divided into four credits of up to $250 per quarter of the year. To get the credit, cardholders just have to make an eligible Saks purchase with their Centurion card, and they'll be reimbursed up to the quarterly and annual limit in the form of a statement credit.

As a bonus, Saks stores will open their doors to Centurion cardholders outside of normal business hours — a pretty extravagant perk for those who want to make a power move or impress their non-Centurion-holding friends.

CLEAR membership 

CLEAR is an expedited security membership (an alternative to TSA PreCheck), and you can use it at more than 30 airports and more than 20 sports and concert venues in the US.

The recently revamped American Express® Green Card offers a statement credit for up to $100 toward CLEAR membership, which costs $179, but with the Amex Centurion card you can get a statement credit for the full cost of membership when you use your card to buy it. Plus, you can get statement credits to cover adding up to three family members.

24/7 concierge service

An Amex black card gets you your own personal concierge whenever you'd like one. You can count on the round-the-clock concierge service to help you make travel plans or reservations at exclusive restaurants. This service can also get you tickets to just about any event and/or purchase gifts on your behalf.

Once again, the Amex Platinum and Business Platinum also offer concierge services. However, Centurion cardmembers are definitely the top priority for Amex concierge, and they get the best access to restaurant reservations and more.

International arrival service 

If you travel abroad often, you'll love the black card's international arrival service. As long as you fly business or first class via American Express Travel, you'll be assigned to your own personal guide who will make the immigration and customs process a breeze. This isn't a benefit you can replicate with any other Amex card.

Another exclusive airport perk: Centurion cardholders get complimentary membership to The Private Suite at LAX, a private VIP terminal. But there's a big catch: You have to pay each time you use it — and it costs up to $3,000.

No spending limit

There are no preset spending limits with the black card, so you can easily buy big-ticket items that you may not necessarily be able to pay for with other credit cards. Keep in mind, however, that since the black card is technically a"charge card," you must pay off your balances in full every month. (The Amex Platinum and Business Platinum are also charge cards.)

Other lifestyle perks

Beyond offering elite status with more travel partners, international arrival service, and the top tier of Amex concierge service, the black card stands out from the Amex Platinum and Business Platinum with its selection of wine-related benefits, such as consultations with a wine specialist and wine-buying offers.

Black cardholders also get several shopping perks, including special offers and VIP benefits with Net-a-Porter.

finance money bank banking banking credit card credit score investment payment american express

The Amex Platinum is more attainable, and offers many of the same perks

If you don't get an invite for the American Express black card, don't fret. As you can see, many of the benefits it offers are available on the Amex Platinum, which has a $550 fee. You'll get no preset spending limits, hotel elite status, complimentary access to airport lounges, and concierge services.

Read more:Amex Platinum card review

If you're a business user, the Amex Business Platinum is worth a look. It offers most of these benefits as well, and has a $595 annual fee. 

Read more:Amex Business Platinum card review

Click here to learn more about the Amex Platinum »

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NOW WATCH: Why red and green are the colors of Christmas

These photos of abandoned malls and golf courses reveal a new era for the American suburb

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the 700000 square foot mall had the capacity to host four anchor stores and 100 smaller shops

In March 2017, Business Insider reported a series of stories on "The Death of Suburbia," declaring the end of the suburbs as we once knew them.

By examining the plummeting value of McMansions, the increasingly blurry line between city and suburb, and the shuttered shopping malls across the US, we saw that the once flourishing suburbs were no longer what they used to be.

Read more: Millennials are following in baby boomers' footsteps and heading for the suburbs — but there's a key difference in how they're doing it

Ahead, see a collection of photos from Seph Lawless and Business Insider reporters, showing the relics of America's suburban past. Some of these structures are now abandoned while millennials move forward with alternative ways of living.

SEE ALSO: The suburban mansion may be losing its spot as part of the American Dream, and it highlights just how different millennials' and baby boomers' worlds are

DON'T MISS: The 50 best suburbs in America, ranked

It's been a rough couple of years for the retail industry, and malls are shutting down across the US. Chicago's Lincoln Mall, pictured here, shut its doors in January 2015.

Source:Business Insider



It had originally opened in 1973.

Source: Chicago Tribune



The 700,000-square-foot mall had the capacity to host four anchor stores and 100 smaller shops.

Source:Chicago Tribune



Closer to its final months, the mall had just 40 storefronts in business.

Source:Chicago Tribune



In 2013, the mall's owner told the Chicago Tribune that the property was losing $2 million a year.

Source:Chicago Tribune



The closing of the mall's Sears was a major blow to its business.

Source:Chicago Tribune



The same year, a court-ordered receiver was appointed to force the location to pay taxes and fines as well as make necessary repairs.

Source: Chicago Tribune



The mall's tenants did not generate enough in rent to pay for the improvements or repairs, according to an attorney for the owner.

Source:Chicago Tribune



The mall reportedly failed to make these changes, which included creating new exits to comply with fire codes and replacing electrical and air-conditioning systems.

Source:Chicago Tribune



In November 2014, a Cook County judge ordered the closing of the mall following the holiday shopping season.

Source: Chicago Tribune



For nearly two years, the mall sat empty.

Source:Chicago Tribune



Its shops' signage stayed intact, however.

Source:Seph Lawless



Some banners also remained hanging.

Source:Seph Lawless



Demolition began on the property in May 2017.

Source:Chicago Tribune



The Rolling Acres Mall in Akron, Ohio, had a similar fate.

Source:Ohio.com



This mall originally opened in 1975.

Source:Cleveland.com



With JCPenney as one of this mall's anchor stores, the mall's parking lot was packed with visitors in the early 1980s.

Source:Ohio.com



It officially closed in 2008.

Source: Cleveland.com



Demolition of the mall began in 2016.

Source:Ohio.com



The Metro North Shopping Center in Kansas City, Missouri, has also shuttered.

Source:KansasCity.com



This mall opened in 1976.

Source:KansasCity.com



The mall was massive. Sitting at 1.2 million square feet, it once housed more than 150 retailers.

Source:KansasCity.com



The mall officially closed in 2014.

Source:KansasCity.com



Originally, a $200 million makeover was in the works, but the developers ditched the plan in 2015, citing difficulties attracting tenants.

Source:KansasCity.com



Even some malls that are still open for business look like ghost towns. Here's the Regency Square Mall in Richmond, Virginia, in March 2017, for example.

Source:Business Insider



Empty storefronts lined the halls.

Source:Business Insider



Similarly, Valley View Mall in Dallas — which opened in 1973 — was mostly empty of both people and stores when Business Insider visited on December 23, 2016.

Source:Dallas News, Business Insider



The mall flourished in the 1970s and through the 1980s.

Source:Labelscar.com



However, as early as the 1990s, after one of its anchor stores, Bloomingdale's, closed, it began experiencing financial trouble.

Source:Business Insider



Some of Valley View's original shops had been taken over by what looked more like a neighborhood garage sale than a store.

Source:Business Insider



It also seemed that many of the shops had been repurposed.

Source:Business Insider



Valley View Mall officially closed in July 2017.

Source:Dallas News



Demolition of the mall began in May 2019. The site is being replaced with mixed-use high-rise buildings said to include office space, retail space, entertainment space, and residential units.

Source: WFAA



Many retailers have struggled to adapt to changing consumer behaviors. As for the anchor stores that are still open in malls, as in this Sears store in Glen Allen, Virginia, in July 2017, the lack of products can be alarming.

Source:Business Insider



The Business Insider correspondent Hayley Peterson visited the Glen Allen Sears and found empty shelves in the shoe department.

Source:Business Insider



A broken display shelf was found in the appliances department.

Source:Business Insider



A corner of the store featuring travel items had the same products hanging on multiple hooks, most likely an attempt to fill space.

Source:Business Insider



A department devoted to curtains also appeared to be missing some inventory.

Source:Business Insider



This section was better stocked than other departments, but it also lacked wall signage.

Source:Business Insider



Ripped carpet lined the walls below empty shelves.

Source:Business Insider



The men's department was also very empty.

Source:Business Insider



This Sears location in Woodbridge, New Jersey, which we visited in February 2017, didn't look much better.

Source:Business Insider



This Richmond, Virginia, location was also lacking merchandise.

Source:Business Insider



In November 2018, Sears announced that 40 Sears and Kmart stores would close their doors. This news came at a time when 142 stores were already set to close by the end of the year.

Source: Business Insider



The number of store closings announced in 2018 brought Sears' total store count down to about 500 — a major decrease from 2,000 stores in 2013.

Source: Business Insider



In July 2016, we visited the flagship Macy's store in Manhattan, only to find messy shelves and lots of sales. Macy's closed 68 locations in 2017.

Source:Business Insider



The apparel department was also a mess.

Source:Business Insider



It's not just the malls' anchor stores. Crocs closed 158 locations in 2017.

Source:Yahoo.com



In 2017, nearly everything was on sale at RadioShack as it prepared to close 1,430 stores nationwide.

Source:Business Insider



In 2017, Wet Seal announced the closing of all 171 locations.

Source:Business Insider



In 2018, Mattress Firm announced that it would close up to 700 stores across the United States.

Source:Business Insider



Malls and shopping aren't the only things that have changed in suburbs across America. Once a community staple in many American suburbs, the golf course is also now a slowly dying breed.

Source:Business Insider



More than 800 golf courses have shuttered across the US in the past decade, and data from the Sports & Fitness Industry Association found that those ages 18 to 30 had a lack of interest in playing the game.

Source:Business Insider



The Apple Ridge Country Club, located in Mahwah, New Jersey, opened in 1966.

Source:Business Insider



Apple Ridge had been complete with an event space, an 18-hole golf course, a swimming pool, and tennis courts.

Source:Business Insider



Since it officially closed in late 2015, the country club has seemingly remained uncared for.

Source:Business Insider



This is how it looked when we paid a visit in February 2017.

Source:Business Insider



Today, millennials are doing everything they can to live in cities rather than traditional neighborhood homes.

Source:Business Insider



In lieu of traditional housing, some millennials are turning basements, boats, and vans into homes.

Source:Business Insider



Young homebuyers with different attitudes toward conspicuous consumption are also killing off the McMansion, a sprawling, often architecturally mismatched home boasting several thousand square feet of space.

Source:Business Insider



A woman who studied 600 millionaires discovered where you choose to live has 2 effects on your ability to build wealth

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house buying hunting

  • Your neighborhood plays a huge role in how much you save and spend, according to two researchers who studied millionaires.
  • If you live in a pricey home in an affluent neighborhood, you're more likely to mirror your neighbor's consumption habits.
  • This can affect your ability to accumulate wealth over time, as can the home's price — most millionaires live in a home they can easily afford, which allows them to save more money.
  • Visit Business Insider's homepage for more stories.

A multitude of factors go into building wealth, but perhaps none play as big a role as where you choose to live.

That's according to Sarah Stanley Fallaw, the director of research for the Affluent Market Institute. She coauthored "The Next Millionaire Next Door: Enduring Strategies for Building Wealth," in which she surveyed more than 600 millionaires in America.

"The key to wealth building is to live in a home that one can easily afford," she wrote, building upon research from her father, Thomas J. Stanley. In his book "Stop Acting Rich," he said one's home or neighborhood is their greatest detriment to building wealth.

"If you live in a pricey home and neighborhood, you will act and buy like your neighbors," he wrote, adding: "The more affluent the neighborhood, the more its residents spend on almost every conceivable product and service."

So if your high-income-producing, high-consuming neighbors roll up to the driveway in a BMW or a Mercedes-Benz, it's likely you'll feel the urge to do the same. This pressure to keep up with the Joneses can also be affected by lifestyle creep, the tendency to spend more whenever one earns more.

But it's not just neighborly influences that can affect one's overall wealth — the home's price relative to your income also affects your ability to accumulate wealth over time, Stanley Fallaw said.

If you want to make progress on building wealth, keep your housing costs low

Most of the millionaires she studied had never purchased a home that cost more than triple the amount of their annual income. The median home value for millionaires in her latest study was $850,000 (3.4 times their current income), with a median original purchase price of $465,000.

Just consider billionaire investor Warren Buffett — he lives in a modest house worth 0.001% of his total wealth.

So what constitutes an affordable home?

That depends on your salary, your age, and what state you live in, but the standard measure of housing affordability is 30% of your pretax income.

However, if you really want to make progress on building wealth, Business Insider's Lauren Lyons Cole, a certified financial planner, suggests looking for a place that costs 25% or less of your after-tax income and funneling the cash you save toward your retirement accounts.

"Keeping housing costs low is smart, no matter how much money you have," she wrote. "The best financial move you can make is to literally move to a less expensive home."

Finding a house without breaking your budget is also dependent upon when you buy — according to Holden Lewis, a mortgage analyst at NerdWallet, timing your home purchase correctly, like during the winter or before you get married, can save you money.

But when buying a home, you should not only consider the cost of living, but how you measure your well-being within the city, community, and neighborhood, Stanley Fallaw said.

"We still argue that your more immediate community (your school district, neighborhood, and town) is more important when it comes to your personal happiness," she wrote. "When you're thinking of buying that 4,500-square-foot McMansion out in the suburbs to avoid a two-bedroom fixer-upper in the city, you're trading size of home for commute. What's more important to you?"

SEE ALSO: Home values have more than doubled in the US since 1970 — here's how much they've increased in every state

DON'T MISS: A researcher who studied over 600 millionaires found they do 3 things to forge a clear path to financial independence

Join the conversation about this story »

NOW WATCH: Self-made millionaires all have common personality traits that helped build their wealth

Inside the fabulous life of Monaco's royal family, who rules over one of the richest countries in the world, is richer than the Queen of England, and lives in a 12th-century palace

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Monaco, a tiny city-state on the French Riviera, is one of the wealthiest nations in the world. A whopping 32% of the population is made up of millionaires.

Known as a "Billionaires' Playground," Monaco is famous for its lavish wealth, casinos, and glamorous events, such as the Monaco Yacht Show and the Monaco Grand Prix.

Ruling over this small yet rich city-state are the Grimaldis, the Monaco royal family headed by Prince Albert II, the son of Prince Rainier III and the actress Grace Kelly, who died in a car accident in 1982.

Prince Albert is worth an estimated $1 billion and owns about a quarter of the land he reigns over, according to GoBankingRates, making the Monaco royal family one of the wealthiest in the world. He married Charlene Wittstock, a former Olympic swimmer and teacher from South Africa in 2011, and the couple shares two children. The prince also has two other children, who were born out of wedlock.

Take a look at the lifestyle of the Monaco royal family.

SEE ALSO: The 10 richest royal families in Europe, ranked

DON'T MISS: 15 astounding facts about Monaco, the tiny French Riviera city-state where 32% of the population is made up of millionaires

The Monaco royal family rules over one of the smallest yet wealthiest nations in the world.

Prince Albert of Monaco is worth an estimated $1 billion and owns about a quarter of the land he reigns over, according to GoBankingRates, making the Monaco royal family one of the wealthiest in the world. For comparison, the Queen of England, Elizabeth II, is worth an estimated $500 million.

Prince Albert married Charlene Wittstock, a former Olympic swimmer and teacher from South Africa in July 2011, and the couple shares two children. The prince also has two other children, who were born out of wedlock.



Approximately 32% of the Monaco population is made up of millionaires.

The country is home to 12,261 millionaires in less than 1 square mile, and the number of millionaires increased by 12% between 2013 and 2018, according to the 2019 Knight Frank Wealth Report.



The official residence of the royal family is the Prince's Palace of Monaco.

The palace, which was built as a fortress in 1162, is guarded by a 98-man force made up of highly trained French military men.



The palace hosts national celebrations such as one for Monaco's National Day on November 19.

Its state apartments are open for public visits for part of the year for €8, or about $9.



The Prince of Monaco is the son of Prince Rainier III and the actress Grace Kelly, who died in a car accident in 1982.

Kelly, a beloved American actress at the time, met her future husband, Prince Rainier III of Monaco, during a photo shoot.

They had three children: Princesses Caroline and Stephanie, and Prince Albert. The two were married from 1956 until Kelly's tragic death in 1982, when she suffered a stroke and crashed her car.



As a child, Prince Albert spent summers on his family's boat.

The family also went on skiing holidays in Switzerland.



Prince Albert and Princess Charlene's nuptials in 2011 were one of the most lavish and expensive royal weddings ever.

Their three-day wedding cost an estimated $70 million and included guests like Karl Lagerfeld, Naomi Campbell, and Giorgio Armani. 

The couple also hired the American rock band the Eagles to perform ahead of the ceremony.



The couple's royal lifestyle includes attending star-studded galas such as the Monte Carlo Gala for the Global Ocean.

The gala takes place in September each year during the Monaco Yacht Show, and attendees have included Katy Perry, Orlando Bloom, Li Bingbing, Leonardo DiCaprio, Hugh Grant, Robert F. Kennedy, Eva Longoria, and Madonna.



The royal couple also attends the annual amfAR gala in Antibes, France, which takes place during the Cannes Film Festival, the glamorous film festival attended by Hollywood's elite.

The gala benefits the Foundation for AIDS Research.



They rub shoulders with Hollywood A-listers at a television festival created by the Monaco royal family itself.

Prince Albert's father, Prince Rainier III, created the Monte-Carlo TV Festival in 1961.



And the Monaco royals get the best seats at some of Monaco's most high-profile events, like the Monaco Grand Prix, where the 1% cruise in on helicopters and party on multimillion-dollar yachts.

A one-day pass to the prestigious Monaco Grand Prix costs $328, and many of the superrich attendees stay at the Hotel Metropole, where a room can cost up to $41,000 a night.



The prince and princess also host global heads of state, such as Chinese President Xi Jinping and his wife, Peng Liyuan.

In 2019, Xi made the first ever state visit to Monaco by a Chinese president.



Prince Albert and Princess Charlene's 5-year-old twins, Princess Gabriella and Prince Jacques of Monaco, are already "style icons," according to the press.

"Four-year-old royal twins Prince Jacques and Princess Gabriella recently shut down the red carpet in Monaco with enough sass to rival Lady Gaga's entire awards season run," Megan C. Hills wrote of the above look for the UK's Evening Standard in 2019.



Monaco's prince and princess appear to be fans of skiing. They were seen cheering on a skier from Monaco at the 2014 Winter Olympics in Sochi, Russia.

And the princess has also shared photos and videos of her children on what appears to family ski trips. The Monaco royals are known to take ski vacations to Gstaad, Switzerland.

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The royal couple has been seen at glamorous events in places like New York City — and sometimes their children tag along.

Last year, Princess Charlene shared photos of the royal twins near the World Trade Center and the 9/11 Memorial in Manhattan.

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A massive $27 million Silicon Valley mansion is back on the market less than a year after selling — take a look

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silicon valley housing 61 faxon road atherton california 32 million 1

  • A seven-bedroom mansion in Atherton, California, is listed on the market for $27 million.
  • The listing at 61 Faxon Road was listed in June 2018 for $32.5 million. It sold in April 2019 for $24 million, and now less than a year later, it's back on the market for $27 million.
  • The mansion is the third most expensive listed publicly on the market in Atherton, a Silicon Valley town that many of the region's high-profile tech players call home — Forbes dubbed Atherton the wealthiest town in America in 2019.
  • Visit Business Insider's homepage for more stories.

There's a reason why Forbes listed Atherton, California, as the wealthiest town in America in 2019.

The town is nestled in the state's Silicon Valley, a region famed for its magnitude of tech behemoths like Google and Facebook, meaning that tech workers in the area make some of the highest salaries in the country.

And there's a decent chance that one such techie could become the new owner of the 13,014-square-foot residence at 61 Faxon Road— if they shell out the asking price of $27 million.

That price tag was $5 million higher when it was listed in summer 2018, but in September of that year, the amount was slashed from $32.5 million to $29.5 million, according to Zillow. And just two months later the home saw another cut, this time lowering the price to $27.5 million, and then to $24 million when it sold in April 2019. Now, just eight months later, the mansion is back on the market for $27 million.

Even by Atherton's standards, the price tag is a hefty one. According to Zillow, the median home value for the neighborhood is $6.57 million, four times less than that of the mansion's current listed price. But it certainly has the amenities to match: the listing includes six bedrooms, a movie theatre, a wine cellar, and is located near the elite Menlo Circus Club.

Take a look around.

SEE ALSO: A tech billionaire just listed his Palo Alto home for $100 million, the most expensive Bay Area listing in a decade — take a look inside

The estate at 61 Faxon Road spans 1.07 acres and went on the market in June 2018. It sits in the vicinity of the area's Menlo Circus Club, an exclusive social club for wealthy clientele.



The contemporary home is outfitted with black stainless steel, cedar, clear glass, and natural stone.

Source: Keller Williams



It also has a casual five fireplaces ...



... one of which is in the living room.



Seven bedrooms are scattered throughout the house.



As well as four half bathrooms and eight full ones, one of which sports a heavenly white tub.



A recreation den on one of the mansion's three floors is decked out for entertaining ...



... with a full bar to match. There's also, of course, a wine cellar.



A tricked out movie theatre allows for an exceptional in-home cinematic experience.



A large opening leading outside separates an indoor dining table and an outdoor seating area.



On the premises is also a 1-bedroom guest house with a full kitchen and bathroom. A fireplace sits in close proximity to this crisp kitchen.



A serene pool and lounge area rests in the backyard.



It's expansive, compared to other homes in the area's real estate market.



In addition to its bells and whistles, the home's location is what makes it so ideal — it sits 20 minutes from Google's and Facebook's corporate headquarters.



Take a look inside the largest house in the US — a Vanderbilt's 130-year-old private mansion with 35 bedrooms, 43 bathrooms, and 65 fireplaces

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The Biltmore Estate is home to the largest privately-owned house in the United States.

George Vanderbilt, a prominent businessman from the late 19th and early 20th century, began constructing the Biltmore House in 1889.

Located in Asheville, North Carolina, the 250-room home took six years to build.

Asheville is a mountain city known for its scenic views of the Blue Ridge Mountains. The area's most popular destinations include the Blue Ridge Parkway — a 469-mile road around the mountain's peaks — and, of course, the historic Biltmore Estate.

Vanderbilt opened the Biltmore House in 1895. Over the next 35 years, the estate played an important role in Vanderbilt's family life. In fact, his daughter, Cornelia, and two of his two grandchildren were born there

George Vanderbilt died in 1914. After his death, his wife, Edith, sold around 87,000 acres of the estate to the United States Forest Service.

In 1930, Cornelia and her husband John Cecil opened the house to the public. According to the Biltmore website, it was opened during the Great Depression to boost the area's attraction. 

Since then, there have been various additions to the estate, including the Biltmore Winery, the Inn on Biltmore Estate, and the Antler Hill Village, which features the Village Hotel.

The Biltmore Estate, which now spans a total of 8,000 acres, is covered with gardens designed by American landscape architect Frederick Law Olmsted.

The main house, America's largest, includes 35 bedrooms, 43 bathrooms, and 65 fireplaces.

Keep reading for a look inside.

SEE ALSO: The most famous home in every US state, from LA's Playboy Mansion to a 'Beer Can House' in Houston

DON'T MISS: These photos of abandoned malls and golf courses reveal a new era for the American suburb

The Biltmore Estate is located in Asheville, North Carolina.

Source:Biltmore



Asheville is a mountain city known for its scenic views of the Blue Ridge Mountains. As of 2017, the city's estimated population was 91,902. Its median home value, according to Zillow, is $303,814.

Source:Zillow, City-Data



The Biltmore Estate is home to the Biltmore House, which is the largest privately-owned house in America.

Source:Biltmore



It was constructed in 1889 by George Vanderbilt, a prominent businessman from the late 19th and early 20th century.

Source:Biltmore



With the help of around 1,000 people, the home was completed in six years.

Source:Biltmore, Arcadia Publishing



It was officially opened by Vanderbilt in 1895.

Source: Biltmore



Over the next 35 years, the estate played an important role in Vanderbilt's family life. In 1900, his wife, Edith, gave birth to their daughter Cornelia in the Louis XV Room. Two of their grandchildren were also born on the estate.

Source:Biltmore



The main house includes 35 bedrooms, 43 bathrooms, and 65 fireplaces.

Source:Biltmore



Here's a close-up of the butler's pantry ...

Source:Biltmore



... and of the library. According to the Biltmore website, from 1875 to 1914, Vanderbilt read around 81 books a year.

Source:Biltmore



Vanderbilt died in 1914. After his death, Edith sold around 87,000 acres of the estate to the United States Forest Service.

Source:Biltmore



The property has a history of collecting various pieces of artwork and artifacts. In fact, during World War II, artwork from Washington DC's National Gallery of Art was stored in the house.

Source:Biltmore



There is even a smoking room with blue-patterned walls and two bookshelves.

Source:Biltmore



The home also boasts a variety of amenities. Below is an emptied swimming pool.

Source:Biltmore



There is also a bowling alley ...

Source:Biltmore



... and a garden.

Source:Biltmore



In 1930, Cornelia and her husband John Cecil opened the house to the public. Since then, there have been various additions to the estate, including the Biltmore Winery, the Inn on Biltmore Estate, and the Antler Hill Village which features the Village Hotel.

Source: Biltmore



Outside, the estate, which now totals 8,000 acres, includes acres of gardens designed by American landscape architect Frederick Law Olmsted.

Source:Biltmore




Toyota is building a 175-acre smart city in Japan where residents will test out tech like AI, robotics, and smart homes. Here's what the 'city of the future' will look like.

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Toyota city

Toyota is building a 175-acre smart city at the base of Japan's Mount Fuji, about 62 miles from Tokyo, the company announced earlier this month at CES, the biggest tech trade show of the year.

The "city of the future" will function as a testing ground for technologies like robotics, smart homes, and artificial intelligence and will be home to a starting population of 2,000 Toyota employees and their families, retired couples, retailers, and scientists, who will test and develop these technologies.

Residents of the city, which Toyota has dubbed the "Woven City," will live in smart homes with in-home robotics systems to assist with daily living and sensor-based artificial intelligence to monitor health and take care of other basic needs.

It will be designed by famed Danish architect Bjarke Ingels, who's behind high-profile projects such as 2 World Trade Center in New York City and Google's California and London headquarters. Ingels has designed the Woven City to be fully sustainable, with an ecosystem powered by hydrogen fuel cells and roads dedicated to self-driving, zero-emissions vehicles.

Construction of the Woven City will start in 2021, and Toyota plans to have the first residents move in within 5 years, a spokesperson told Business Insider.

Here's what the 175-acre smart city will look like when it's finished.

SEE ALSO: A Mars settlement prototype in California may train astronauts to live on the red planet. Tourists could go for $6,000 a week.

DON'T MISS: Tesla is now the highest-valued automaker in US history

Toyota's planned 175-acre smart city will sit at the base of Mount Fuji in Japan, which is about 62 miles from Tokyo.

Called the "Woven City," the development is expected to be fully sustainable, powered by hydrogen fuel cells.

The "city of the future" will function as a testing ground for technologies like robotics, smart homes, and artificial intelligence, according to the company.

"Building a complete city from the ground up, even on a small scale like this, is a unique opportunity to develop future technologies, including a digital operating system for the city's infrastructure," Toyota president Akio Toyoda said in a press release.

"With people, buildings, and vehicles all connected and communicating with each other through data and sensors, we will be able to test connected AI technology… in both the virtual and the physical realms … maximizing its potential," Toyoda added.



Toyota plans to send 2,000 people to live in the Woven City to start and then gradually grow the population.

The first residents will be Toyota employees and their families, retired couples, retailers, visiting scientists, and industry partners, according to the company.



Residents will live in homes outfitted with the latest in-home robotics technology to assist with daily living as well as sensor-based artificial intelligence to monitor health and take care of basic needs.

Despite the planned high-tech homes, Toyota says that "encouraging human connection will be an equally important aspect of this experience."



The city will include multiple parks and a large central plaza for social gatherings.

Toyota's president says the city is part of a "quest to create an ever-better way of life and mobility for all."



The city's buildings will be made mostly of wood to minimize the carbon footprint.

And rooftops will be covered in photo-voltaic panels to generate solar power and hydrogen fuel cell power.

Toyota says it plans to "weave in the outdoors throughout the city" with native vegetation and hydroponics.



The city will be designed with three different types of streets: streets for faster vehicles only, those for a mix of lower speed vehicles and pedestrians, and a park-like promenade for pedestrians only.

These three types of streets will form an "organic grid pattern" to help test autonomy, according to Toyota.



A fleet of Toyota's self-driving electric vehicles, called e-Palettes, will be used for transportation, deliveries, and "changeable mobile retail" throughout the city.

Construction of the Woven City will start in 2021, and Toyota has not yet revealed an estimated completion date or estimated cost.



5 things millennials are paying for that their parents never would have dreamed of spending money on

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Millennials are living a life their parents never dreamed of, and it's all because of what they choose to spend their money on.

The generation is paying for things that were previously seen as taboo by their parents, like therapy and plastic surgery. Social media has helped normalize both of these for millennials.

Millennials' are also paying for different lifestyle choices as a result of the economy and technological advancements they grew up in. As this generation waits to have kids at a later age than previous generations, taking time to first find their footing in the world, they're turning to egg freezing to help them delay starting a family.

That's not to mention their preference for renting. From clothing and furniture to hotels and rideshares, millennials have come to prefer non-ownership for its flexibility and ability to let them spend within their means.

Here are five lifestyle choices millennials are paying for that their parents couldn't — or wouldn't — spend money on.

SEE ALSO: 15 ways millennials changed the world in the 2010s

DON'T MISS: 7 ways life is more expensive today for American millennials than previous generations

Millennials are more likely to attend therapy than their parents were.

Depression is on the rise among millennials, but the generation is addressing it head-on by helping to destigmatize therapy. While previous generations also attended therapy, it was a more taboo subject for them; millennials are more open to talking about and attending therapy.

"Today's 20- and 30-somethings turn to therapy sooner and with fewer reservations than young people did in previous eras," Dr. Peggy Drexler, a psychologist, wrote in an essay for The Wall Street Journal.

Celebrities such as Demi Lovato and Lady Gaga, who have been open about their depression struggles, and conversations on social media have also helped normalize therapy, Drexler wrote.



Men and women are turning to plastic surgery at a younger age because of the influence of social media.

Millennials — both men and women — are turning to plastic surgery sooner than their parents did. In 2018, 72% of facial plastic surgeons reported seeing a rise in patients under age 30 seeking cosmetic surgery or injectables, according to a survey by the American Academy of Facial Plastic and Reconstructive Surgery.

Injectables are particularly increasing in popularity, with Botox leading the way, the survey found. Millennials have normalized facial plastic surgery, in part because of the influence of social media and technology.

Instead of attempting to reverse the aging process later on in life — the way previous generations have approached plastic surgery — they're trying to maintain their youthful look, Phillip R. Langsdon, AAFPRS president, said in the press release.



Millennials are shelling out big bucks to freeze their eggs so they can delay starting a family.

As more women delay having babies than ever before, many are turning to egg freezing.

And they're shelling out big bucks to do it: A single cycle can average anywhere from $6,000 to $20,000, according to experts. That doesn't include the $500 to $600 yearly storage costs. But women aren't the only ones paying for egg freezing costs — partners are also helping out.

Some companies, like Google, Apple, and Facebook, are even offering egg freezing as a company benefit so employees can have more freedom to plan for a family on their own timeline, but it's not a common perk.



Millennials don't buy their wardrobe — they rent it.

Why buy clothes when you can just rent them? Rent the Runway, which allows women to rent high-end clothing, made rental fashion mainstream when it was founded in 2009. Since then, a number of rental clothing services have popped up, from Nuuly to Banana Republic Style Passport to Gwynnie Bee.

Rental clothing appeals to younger consumers because it offers a more sustainable way to shop and live a minimalist life, reported Business Insider's Mary Hanbury. It also caters to their craving for newness, she wrote.

Brett Northart, president of rental company Le Tote, told Alejandra Reyes-Velarde of the Los Angeles Times that rental clothing is popular because consumers want flexibility and have less desire to own things after the recession.



In fact, they're renting everything.

But it's not just wardrobes that millennials are renting. They're renting out all aspects of their lives: There's Airbnb for travel, Lyft for transportation, and Fernish for furniture, among other things. That's not to mention other aspects of the share economy, like streaming services such as Netflix and Hulu, which millennials have turned to in order to cope with burnout.

In an article for The Times, Sapna Maheshwari wrote: "Many young American urbanites have resigned themselves to a life of non-ownership." These days, everything is up for lease, she said. 

As the market strategists at ConvergEx Group wrote in a note to clients, "Renting and sharing allow us to live the life we want without spending beyond our means."



Boutique hotels are all the rage — but no one can agree on what, exactly, a boutique hotel is

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Boutique Hotel Awards - World's Best Newcomer Hotel - Te Koi The Lodge At Bronte, New Zealand

In 2019, a boutique hotel on a remote, private island in Norway owned by polar explorer Børge Ousland debuted three eco-friendly "sea cabins" on the edge of the Barents Sea. Clad in aluminum and featuring a waterside glass wall, they cost a minimum of $390 per night, are only accessible by ferry from the mainland — and are already booked into September.

Manshausen Island 2.0 is just one example of the boutique hotel rage that seems to be sweeping the world. The term has 1.5 million hashtags on Instagram and has been used to describe everything from an art-filled hotel with apartment-style rooms in downtown Asheville to cocoon-like suites with infinity pools on an island in Santorini. There's even a committee that spends an entire year visiting boutique hotels around the world and judging the best accommodations. 

So what, exactly, is a boutique hotel? They have a certain je ne sais quoi, but beyond that, no one quite agrees on what they are.

To get to the bottom of this question, Business Insider spoke with four industry experts: Ian Schrager, the legendary hotelier behind boutique hotel brands EDITION and PUBLIC; Shlomo Gabbai, director of the annual Boutique Hotel Awards, which recognizes excellence among luxury boutique hotels around the world; Deanna Ting, author of "The Complete Oral History of Boutique Hotels," a 60,000-word longform article published in 2016 that focuses on the development of boutique hotels in the US; and Bjorn Hanson, who retired as a professor at NYU's Jonathan M. Tisch Center of Hospitality and now works as an industry consultant.

But from the size of the establishment to the details that make it "boutique," there was only one aspect of boutique hotels that all four agreed on: The term has evolved over time and will continue to do so.

As Gabbai put it, "In truth, there is no official definition."

Boutique hotels are rooted in a sense of place and evoke a "special" feeling

"Special" is the word that surfaced most in conversation — Ting, Gabbai, and Hanson all used it at least once.

"Boutique is maybe just like another way of saying 'special' or 'memorable' or 'different,'" Ting told Business Insider. "That's kind of what everyone is looking for — that magic."

Artisan boutique hotel in Las Vegas
Gabbai agreed. In 2019, the Boutique Hotel Awards judging panel received over 300 hotel nominations spanning 80 countries. They whittled the list down to 15 "world's best" winners, ranging from World's Best Beach or Coastal Hotel and the World's Most Inspired Design Hotel to the World's Best Wellness Spa. 

"There are an infinite number of recipes, but the key ingredients I see in a boutique hotel are individuality and a great emotional impact," he said. 

Schrager, meanwhile, described the experience of a boutique hotel as "elevated." 

"It has to appeal to a certain sensibility as much as if it were demographic. It's all about the attitude," he said.

The experience of a boutique hotel begins the moment a guest walks in the door, according to Hanson. "At the end of the first minute, someone at a boutique hotel should feel like he or she is being kind of captured with whatever that experience is," he said.

A range of factors can create this experience. "It can be the location, architecture, design, history or just something clever that is part of a theme," Hanson said. 

The Sanya EDITION   Lobby

Boutique hotels are also often rooted in a sense of place — one that appeals not just to travelers, but locals as well.

"It's not meant to just be a place where people check in, check out. It's meant to be a fixture of that specific community that it is part of," Ting said.

Consider ACE hotels, a chain of art-filled boutique hotels that opened in Seattle in 1999, has branches across the US and London, and will be opening in Kyoto and Toronto later this year. The hotels' lobby bars, seating areas, and event spaces often seem to draw as many locals as guests.

Boutique hotels have been around for decades — and today's boutique hotels don't look like the early ones

Boutique hotels emerged in the US beginning in the 1980s. Credit for the first boutique hotel is largely given to either Bill Kimpton, who launched his first Kimpton hotel in San Francisco in 1981, or Ian Schrager and Steve Rubell, who launched the now-closed Morgans Hotel in New York City in 1984. Both sets of hoteliers, as Ting and Schrager put it, created an experience different than the chain brands at the time.

"Anouska Hempel could [also] lay a strong claim with her design of The Blakes Hotel for launch in 1981," Gabbai said, though he noted the difficulty of determining the first boutique hotel. "Finding the first is as hard to pin down as the definition of a boutique hotel itself," he said.

Schrager, who is often cited as the father of boutique hotels, noted that he and his partner Steve Rubell started using the term "boutique" in a retail analogy to compare Morgans Hotel to larger chains.

Placing a heavy emphasis on design, they set out to become places where not only travelers, but also locals went, according to Ting. 

"We were trying to say that all the other hotels were like department stores — they were trying to be all things to all people — and we were like a boutique," he said.

In terms of size, boutique hotels started out small, less than 100 rooms by various estimates. Placing a heavy emphasis on design, they set out to become places where not only travelers, but also locals went, according to Ting. Over time, boutique hotels have increased their scale and branding efforts and are no longer found just in urban centers, she said.

The line between boutique hotels and mainstream hotels is blurring

Changing traveler tastes and technology have also opened the door for larger brands to follow the boutique hotel model. 

Beginning in the '90s, hotel chains, with W Hotels leading the charge, started recognizing the boutique hotel model as a concept they could adopt, Ting said.

Large hotel brands used to prize uniformity, highlighting "no surprises" in their advertising, according to Hanson. Today, uniformity doesn't carry the same weight.

"Travelers are looking for something that's genuine, that respects local materials and culture and traditions and food," he said.

Boutique and independent hotels started off as synonymous, but that's no longer the case. Kimpton is one example: While it retains its "boutique" identifier, Intercontinental Hotels Group acquired the brand in 2015. 

Boutique Hotel Awards 2019 - Most Inspired Design Hotel - Byblos Art Hotel, Verona, Italy

What this all means in practice is that it's often difficult to identify, simply from appearance and branding, whether a hotel is boutique or not.

Boutique hotels constantly adapt to the changing expectations of travelers. Instead of prescribed standards, modern travelers want to experience something novel when they're on the road. It's an appetite that social platforms are fueling.

"Now we don't need that uniformity to avoid unpleasant surprises because between guests posting about experiences and being able to do 3D tours of hotels, now we can not rely on that uniformity to have a good experience," Hanson said.

Size doesn't define a boutique hotel — unless it takes away from that "special" boutique feeling

Whether or not a boutique hotel can have too many rooms was a polarizing subject.

"In our awards, we consistently find that judges record a lack of intimacy and an accompanying loss in the emotional impact that comes with it when hotels push at the upper 'limits' of what might be considered a boutique-sized hotel," Gabbai told Business Insider. "This is somewhere around 85-100 rooms. Although it doesn't make standard business sense to stop doing what works on a bigger scale, in boutique hoteliering, it's crucial."

Awarta Nusa Dua Resort & Villas Bali

Schrager agreed with Gabbai on loss of impact, but not on size. A hotel stops being boutique, he said, only "when it loses its point of view and specific attitude ... when it becomes generic and institutionalized, cookie cutter."

Even if EDITION had one thousand hotels worldwide — which Schrager hopes could be a possibility one day — it could still be a boutique hotel brand, he said.

At that scale, though, there's a tendency to standardize. When a hotel company becomes too big with its brand, "it starts to find ways to discover efficiencies and take what works best in multiple locations and apply it to other locations. That's when the boutique character is lost," Hanson said. 

"A boutique hotel stops being a boutique hotel when it stops providing an experience for its guests," he added.

Ting agreed. "I think it's hard to use size or number of rooms a qualifier for that anymore. I think it's when you lose that feeling of being in a special place or having a special experience — that's when your boutique hotel card is removed."

Now that more hotels are trying to be "different" and "special," they face the danger of ultimately looking the same

With an eye on the future of boutique hotels, all four experts had a sense of how the concept will transform in the coming years and what issues it will face. As Schrager put it, the hotel industry is at risk of "falling into the same trap that it always falls into. They all start to look like each other."

Everyone trying to replicate the boutique hotel model is the industry's "hamster wheel," Ting echoed.

Schrager shared his theory that as society divides more deeply into two groups — the 1% and everyone else — hotels will do the same. "Hotels follow what the people are doing," he said. In the future, there will be two main types of hotels: small, incredibly expensive hotels, and hotels for the rest of the population, Schrager predicts. 

In order to continue to deliver on the boutique hotel's promise of a special experience in a sea of hotels promising the same, Hanson, for his part, predicts that hotels will resort to using an increasingly high-tech, flashy set of techniques to differentiate themselves. Hanson sees hotels adding devices where guests can change the color of the walls with the flick of a remote device, or even change the firmness of a pillow, in order to continue to deliver on the boutique hotel's promise of being special.

SEE ALSO: The top 18 boutique hotels in the world that should be on every luxury traveler's list

DON'T MISS: A network of 28 tiny, one-bed hotels in Amsterdam is being called the most beautifully designed hotel of 2019 — and it consists of a series of converted bridge houses. Take a look inside.

Join the conversation about this story »

NOW WATCH: 5 facts about the animal kingdom that Golden Globe-nominated 'The Lion King' ignored

Beautycounter developed a plant-based version of retinol for its anti-aging skin-care line — here's what it's like to use and why the dupe may be a safer option

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  • Beautycounter's skin-care line called Countertime is made specifically for aging skin. It includes a proprietary plant-based substitute for retinol, a popular but potentially harmful skin-care ingredient.
  • I had the opportunity to try the Countertime set, and the products were gentle, hydrating, and easy to layer.
  • My skin did appear plumper, firmer, and better hydrated overall, with the Hydrating Essence ($59) and Tripeptide Radiance Serum ($79) being standouts for me.
  • There's no denying the prices are high ($49-$89 per bottle), but if that's comfortable for you, Countertime formulas are a great option for addressing signs of aging. 

Beautycounter, known for its clean beauty activism and strict policy of eschewing potentially harmful ingredients, has its first-ever skin-care line engineered specifically for aging skin: Countertime

Steering clear of the passé idea that women's worst fear and greatest sin is the audacity to age and show said aging, Beautycounter avoids billing Countertime as an "anti-aging" line and focuses instead on the desire to meet time on your own terms. That said, it's still a skin-care line designed to target the effects of time on the skin — just without the branded shame of aging.

For aging skin, Beautycounter's main concerns were strengthening the skin's natural barrier, increasing its ability to defend itself against environmental stressors, and visibly reducing fine lines and wrinkles by fortifying the skin's elasticity and firmness. 

In most skin-care lines designed for aging skin, you'll find retinol in the ingredients list. According to Harvard Health, retinoids are the most-used and most-studied anti-aging compounds. Their benefits include reducing fine lines and wrinkles by increasing collagen production, improving skin color by stimulating new blood vessels, and fading age spots and softening rough patches. However, Beautycounter decided to forgo adding retinol to Countertime due to concerns over its safety — citing internal and external studies that have shown potential for reproductive toxicity and general skin irritation (the latter a mainstream consumer complaint). 

Removing retinol from a debut collection designed specifically for aging skin leaves a big hole in the recipe. To fill it, Beautycounter tasked its lab of researchers with concocting something new that could safely — and effectively — fill the void. Flash forward many failed Frankensteins and lab tests later, and Beautycounter found success with a new retinol dupe it's calling the Retinatural Complex. Beautycounter credits the Complex with keeping skin plump and hydrated, increasing the feeling of firmness, reducing the appearance of fine lines and wrinkles, boosting the skin's barrier function, improving texture and tone, and protecting against oxidative damage which can cause chronic disease

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The Retinatural Complex leans on two under-the-radar anti-aging plant essences: Bakuchiol and Swiss Alpine Rose.

Bakuchiol is a vegan, non-irritating retinol alternative, as explained by Allure in 2018. But, before then, it was used in traditional Chinese medicine and Ayurvedic skin-care remedies for centuries. Like retinol, clinical testing shows it increases cell turnover by stimulating collagen and diminishing skin concerns associated with aging like fine lines, wrinkles, photodamage, and skin laxity — all without the potentially harmful or irritating side-effects. 

Swiss Alpine Rose, on the other hand, grows at the highest altitudes of the Swiss Alps, and it's best-known for an uncanny ability to protect itself against environmental stressors and dehydration.

Beautycounter sent me Countertime products to test ahead of their launch, so I've compiled what each product does — and how they performed — below for reference. In general, they were gentle, effective, and easy to layer — a set you can realistically use in tandem. My skin seemed tighter, more "glowy", firmer, and plumper post-use. I don't wear foundation typically, but I've started to look forward to using this as a kind of makeup because it makes my skin look so dewy and fresh. However, it takes about three to six months for you to see a reduction in wrinkles with retinoids, and the exact number for the Retinatural Complex wasn't readily available, so only prolonged use will demonstrate if these are long-term results. The price range of $49-$89 is not ideal, but if you're willing to pay more for efficacy, clean ingredients, and daily luxury, you'll likely find this line to be worth it.

Another (less) important thing to note is that Countertime is a good-looking collection. But, more than that, it comes in glass bottles rather than plastic. According to Beautycounter, this will reduce the line's greenhouse gas footprint by an estimated 38%. You can also find easy-to-follow instructions on recycling on the packaging itself. 

Skin care is a notoriously personal process, and what works for me may not work for you. If you do decide to try a Countertime product but you don't love it, Beautycounter's return policy online states that you can return the unused portion within 60 days from the ship date for your money back — though the company won't pay back original shipping and handling fees. 

Shop the Countertime collection here.

Keep reading for a personal review of the products I tried from the Countertime collection:

Countertime Lipid Defense Cleansing Oil

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In person, this is a lightweight cleansing oil — probably exactly what you're thinking. If you want something gentle to remove makeup and grime without stripping your skin, this will do it. Ingredients like vitamin E, fatty acids, and the Retinatural Complex leave the skin feeling hydrated and clean.

It does its job well, but it would probably be lower on the list of products I'd restock for myself in terms of value for the price. I still like to double-cleanse, and I prefer to feel a bit more gentle resurfacing in a facial cleanser (like what you'd expect from AHAs and BHAs).

For nourishing makeup removers, I personally like Beautycounter's cleansing balm and a comparatively cheap, silky Bioderma micellar water.



Countertime Mineral Boost Hydrating Essence

 

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This was one of the best products of the collection. Its combination of fermented sugars, mineral-rich seawater, and the Retinatural Complex made my skin look glowy, tight, and firm. The company cites a clinical study of 32 subjects where, immediately following a single application, the formula had improved the skin's barrier function (its main goal). 



Countertime Tripeptide Radiance Serum

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After the mineral-rich essence, you massage this serum into your decolletage, neck, and face in upward motions. Peptides, amino acids, and the Retinatural Complex work together to support the skin's moisture barrier, improve hydration and radiance, diminish the appearance of fine lines and wrinkles. Post-use, my skin looks glowy and firm, and it locks in the products underneath.

As I learned when a dermatologist critiqued my skin-care routine, serums are considered workhorse products. They deliver actives deep into the skin to target your specific concerns: fine lines, hyperpigmentation, etc. If you're only going to make one Countertime purchase and you really want to make it count, this is a good candidate. 

 



Countertime Antioxidant Soft Cream

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True to its description, this is a soft and velvety cream. Alongside the Retinatural Complex,  nasturtium flower extract helps protect the skin against drying environmental stressors. It's lush, sinks into the skin without leaving any residue, and left me with a healthy, plump glow. Based on a 35-subject consumer perception study the company cites, 100% of participants agreed their skin looked brighter and more radiant after four weeks of use. I'd agree with them.



Countertime Tetrapeptide Supreme Cream

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Alongside the Retinatural Complex, Beautycounter packed this overnight cream with tetrapeptide to increase skin elasticity and minimize the appearance of fine lines, and fermented sugars to optimize hydration in renewed skin cells. 

I wouldn't recommend spending $89 on an overnight cream unless it's a comfortable expense for you, but, in the off-chance that it is, this is one of the best for deep hydration without blocking pores in the process. It goes on as an unapologetically thick, rich night cream but it never clogged my acne-prone skin. In the morning, my skin felt hydrated — the happy place in between dry and oily — and firm. 

 



Countertime Ultra Renewal Eye Cream

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The Retinatural Complex and Persian silk tree extract work together to reduce the appearance of under-eye shadows and crow's feet. In a 34-subject consumer perception study cited by the company, 91% said they experienced a brighter eye area and 94% saw a reduction in the appearance of crow's feet over the course of four weeks. In person, it's a medium-thickness cream that goes on smoothly, absorbs well, and makes the eyes appear brighter. I did wake up with slightly less puffy eyes post-application.

Eye creams can be expensive, but this one should last you for months. A little goes a long way.



Countertime Regimen Set

If you want to own the whole routine, you can buy it together in the Countertime Regimen Set ($267)

If you're just looking to buy the highlights and save yourself some money, I'd recommend checking out the Essence, Serum, and Supreme Cream first. 



Overtourism can be solved, and it will start with locals 'taking control' of how much tourism — and what kind of it — they want, according to travel experts

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  • Travel industry experts gathered at the Javits Center in New York City for the 17th annual New York Times Travel Show this past weekend.
  • The New York Times Travel Show is the largest trade and consumer travel show in North America.
  • On Friday, Keynote panelists discussed challenges to the travel industry, included overtourism and sustainability. 
  • Executive leaders at Virtuoso, Intrepid Travel, and Hurtigruten agreed that the solution to these challenges will require that communities determine how they want tourism to work for them, and travel companies educating travelers on how to be respectful guests. 
  • Visit Business Insider's homepage for more stories. 

Sustainability was the buzzword at the annual New York Times Travel Show this past weekend.

Now in its 17th year, the show — the largest professional and consumer trade show in North America — took place from January 24 to January 26 at the Javits Center in New York City. It featured close to 750 exhibitors and 280 speakers and drew over 35,000 people.

Many of the seminars and panels throughout the weekend addressed challenges faced by the travel industry, including how to travel sustainably and minimize the damaging effects of overtourism.

On Friday, when the show opened to members of the travel industry and press, the Keynote panelists were optimistic about the industry's ability to solve these challenges. These panelists included Matthew Upchurch, chairman and CEO of Virtuoso, the global network of luxury travel advisors and service providers; Daniel Skjeldam, CEO of Norway-based expedition cruise line Hurtigruten; and Leigh Barnes, chief customer officer of Intrepid Travel, the world's largest small group adventure travel company. James Shillinglaw, the editor-in-chief and founder of Insider Travel Report, moderated the discussion. 

Barnes, who traveled to the show from Australia, acknowledged a considerable shift in how sustainability is being discussed in the US now compared to previous years. "It's just amazing to sit on a panel and have sustainability mentioned by every single person," he reflected. "I have been coming to America and talking about sustainable experiences now for the best part of eight years, and I think this is probably the first time I've sat on a panel and every single person has said 'This is real. We need to do something.'"

"We're seeing all companies now start to say, 'Hey, the best places for somebody to live are the best places to travel,'" he added.

Sustainability does not just mean the health of the planet, Upchurch clarified. "It's the planet, it's the benefit of local economies, and it's the preservation of natural and cultural heritage," he said.

The panelists shared a clear sense of how the travel industry will be able to solve issues of overtourism

The way forward, according to Upchurch, is a healthy dialogue between communities and travel companies that starts with communities determining and communicating how much tourism they want. "Who are we to say to somebody what is right or wrong for them?" he said.

"I also think that one of our responsibilities is to teach our travelers that there's this balance between self-determination and respectful tourism — like what is expected of our visitors. You are a guest, you are a visitor to that destination," Upchurch said.

Skjeldam echoed Upchurch's sentiments. "Communities will take control of what kind of tourism they want and that will be tourists who generate jobs; that will be tourists that don't harm the place. And you'll see a lot more regulations from communities," he said.

Cities around the world are already taking steps to combat overtourism and reduce their ecological footprint. This fall, Croatia proposed a ban on new restaurants to limit the amount of visitors to its city center. Meanwhile, Venice will ban large cruise ships from its Grand Canal beginning in 2022.

"The key thing is the community needs to take control of all their assets, which is their place, their location, and the beautiful nature around them," Skjeldam said. 

What's next for sustainable travel?

"Brands will move from sustainability to activism. You'll see more brands, more travel companies really taking stances on what they believe in," Barnes said.

Hurtigruten, for one, launched the world's first hybrid cruise ship in 2019. The expedition cruise company's next challenge, according to Skjeldam, will be the world's first emission-free cruise ship. On its website, Hurtigruten outlines its stance on social responsibility and sustainable tourism in depth: "Our goal is to develop, encourage and maintain sustainable all-year activity, instead of flooding the valuable sites during peak season and leaving them quiet for the rest of the year. This is key to developing sustainable destinations, thriving communities and unique experiences."

Wilderness Holdings, which customizes luxury safari tours in seven African countries, is another company actively working to minimize its ecological footprint. Business development director Chris Roche previously told Business Insider that luxury travelers are looking have a positive impact on the places they visit. "They want authenticity and genuine engagement, they want to feel like they're a meaningful contributor to all of this, and they want to be inspired," he said.

SEE ALSO: The Croatian city featured in 'Game of Thrones' is so flooded with tourists that it may ban new restaurants. It's one of many cities buckling under the weight of overtourism.

DON'T MISS: Tourism in Antarctica has seen a 50% spike over the past four years, and luxury travel companies are tripping over each other in the race to capitalize on it

Join the conversation about this story »

NOW WATCH: The bizarre history of the Yule Log Christmas special

Celebrities from Brad Pitt and Selena Gomez to Jeff Bezos have worn this millennial CEO's eyewear brand. Here are Garrett Leight's 5 key tips for aspiring entrepreneurs.

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Luxury eyewear designer Garrett Leight knows exactly what millennials want. In fact, with a celebrity clientele list that includes Jeff Bezos, Kendall Jenner, Lady Gaga, Selena Gomez, and Jennifer Lawrence— Leight doesn't just know what millennials want, he knows what the world wants. 

"We market .... who we are, what we stand for, [and] what we've been about since day one, which is California DNA and the quality product and great customer service," Leight told Business Insider. "We just kind of were ourselves and created what we thought was cool and people liked it."

In an interview with Business Insider about his career, Leight also gave some advice for others who aspire to enter the luxury retail field, and for entrepreneurs who have launched — or who are thinking about launching — their own business. Here are his five key tips.

SEE ALSO: How one millennial CEO built a luxury eyewear brand that's been spotted on everyone from Jeff Bezos to Brad Pitt

DON'T MISS: Barneys shutting down is 'surreal' but 'not surprising,' says the millennial CEO at the head of a luxury eyewear brand that Jeff Bezos and Brad Pitt have been spotted wearing

1. Companies must "innovate or die."

In speaking about luxury retailer Barneys, Leight said one of the main reasons the store failed in the 2010s is because it didn't establish an "identity" that could connect with the younger generations. 

"Today, millennials [and] Gen-Z, we want to connect with something. We want to know who we're supporting," he told Business Insider. "You gotta dedicate some effort both financially and creatively to creating something that buyers [and] consumers can connect with."

He also said that brands should pay attention to what happened to the once-famed retailer, noting that if they fail to adapt to the changing taste in the consumer market, they could easily be the next to fall.



2. Authenticity is key.

When speaking about how his brand uses social media for marketing, Leight and his brand's chief communications officer Jamie Katz emphasized that they rely on authenticity in order to connect with customers, future buyers, and most importantly, brand ambassadors.

"It's more about an organic alignment. If they feel like they are an extension of what we've tried to create as the Garrett Leight lifestyle, then we feel like they're probably in a community of people that would also appreciate the Garrett Leight lifestyle and the brand," Katz said.



3. Mental health care is vital.

To ease his stress, Leight makes sure he involves himself in activities that can take his mind far away from the world of business and entrepreneurship. He plays golf, softball, and regularly gets massages and acupuncture, and he recommends others invest in health and wellness activities that can ease the mind. 

"I've felt overwhelmed in my head," Leight told Business Insider. "For me, stress comes ... in my neck and my back. Some people, it's in their stomach, it's all through their body ... I think even if you feel great at 25, it eventually will catch up to you. So I think introducing these [wellness] forms are important." 

Katz doubled down on what Leight had to say. 

"People think, 'Oh no, I can't take a break. I have to stay focused. I have to do this, and work all these hours,'" Katz said. "It's like, you're gonna end up not achieving what you could achieve if you just take the time to take care of yourself, do a digital detox, shut down for a little while to take your mind off of what you're doing and then come back feeling refreshed, feeling focused. You could get to the answer that you're looking for, the solution or whatever it is, so much quicker."



4. For a burgeoning brand, too much inventory can be deadly.

"You have to pay for everything you buy [but] you're not going to sell everything you buy," Leight said. "Some people are so lucky and, especially today, in that they could just have, it seems, mostly with celebrities and influencers, that they just make something, and they make 50 units and it sells out, and it's all about scarcity. But that's super rare and I would just be really conscious [of how much inventory you have]."



5. Strong leadership starts with having a grounded mindset.

One of the most important things Leight has learned throughout his career is to not take anything for granted.

"When you're growing really fast, you kind of feel like you're on top of the world and [you] could lose sight of some things," he said. "At least as an entrepreneur, you're always one mistake away from losing everything, more or less. So you just have to be aware of your business. And, especially as a creative leader, trying to have a grounded mindset and an understanding of the financial and operational side [can help you] be operationally excellent and not lose what you've created."



Tech billionaire Vinod Khosla has sued California and a county sheriff in what is the latest battle in the investor's fight to keep a beach near his $37 million estate to himself

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  • Tech billionaire and venture capitalist Vinod Khosla has sued California and the San Mateo County Sheriff over property rights on his waterfront estate near Half Moon Bay, about an hour south of San Francisco.
  • Khosla, a co-founder of Sun Microsystems, bought a 53-acre waterfront estate for $37 million in 2008 and allegedly closed off the road that runs through the private property and that the public had historically used to access Martin's Beach, a beloved beach spot.
  • The lawsuit is the latest battle of the investor's longtime fight over Martin's Beach and comes just three weeks after the state of California filed its own lawsuit against Khosla, which alleged that he was restricting public access to the beach.
  • The decade-long legal war has ignited conversation revolving around public access to California's beaches and property rights.
  • Visit Business Insider's homepage for more stories. 

Just three weeks after the state of California filed a lawsuit against Silicon Valley billionaire Vinod Khosla alleging that he was restricting public access to a secluded beach, the investor has responded with a lawsuit of his own, The Mercury News reported.

On Friday, Khosla filed a lawsuit in US District Court in San Francisco that asserts San Mateo County Sheriff Carlos Bolanos has failed to cite or remove visitors that use a road on Khosla's private property to access Martin's Beach — a popular coastal spot frequented and beloved by local surfers and families — without paying a fee. The complaint stipulates that the beach visitors were trespassers. The sheriff's office has refrained from arresting and citing them, due to the fact that there are so many unresolved filings that have been made in the past decade, according to The Mercury News.

The lawsuit also names officials with the California Coastal Commission and State Lands Commission and the San Mateo County Planning and Building Department Director Steve Monowitz as defendants.

Khosla's attorneys wrote in the complaint that "this case involves a concerted effort by state and local officials to single out, coerce, and harass one coastal property owner for refusing to cede its private property rights."

SEE ALSO: California has sued tech billionaire Vinod Khosla over beach access, reviving a decade-long legal battle

This isn't the first unresolved court case involved in Khosla's attempt to keep the secluded beach off-limits to the public.

For more than a decade, Khosla has been accused of blocking access to the road that runs through his private property, a road that is the only route to Martin's Beach.

Khosla, a co-founder of Sun Microsystems and founder of the venture capital firm Khosla Ventures, paid $37 million for the 53-acre property near Half Moon Bay, a coastal town about an hour south of San Francisco, in 2008.

Khosla's lawyer, Dori Yob Kilmer, said in a statement sent to Business Insider in early January that prior to Khosla's purchase, the beach was privately owned by the Deeney family for nearly 100 years and that the family "chose to use it as a revenue-generating beach-access business," charging the public a fee to enjoy the spot.



But soon after making his purchase, Khosla closed the gate that led to Martin's Beach and posted a sign warning that there would be no access, angering local surfers and families who had long frequented it.

Khosla's attorneys said the closure was because the cost to maintain the beach outweighed the revenue that would be generated from daily use fees.

The California appeals court would later rule that Khosla violated state law by barring the public from the beach without applying for a permit. When the nonprofit Surfrider Foundation sued Khosla, he took his case to the US Supreme Court, which declined to hear it in 2018. If it had decided to hear it, as Business Insider's Melia Russell wrote, the results could have caused a shift in how beach property rights are managed across the nation.

In an interview with The New York Times later that year, Khosla said he wished he had "never bought the property," but he was determined to continue fighting for his privacy based on principle. 




The best robot vacuums

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  • A high-quality robot vacuum is easy to schedule, picks up most debris from an array of surfaces, and runs quietly while going about its work.
  • Our guide features vacuums that performed well in our tests, have useful features that justify their price, and are designed to make cleaning your floors as seamless as possible.
  • The Roborock S6 Robot Vacuum is our top pick because it has unparalleled suction, accurately maps your home so you can set boundaries for where you want it to clean, and automatically boosts its suction when on carpeting.

Few find joy in vacuuming, but if it's not done often, dirt accumulates and allergens get out of hand — especially if you're like me who has two cats and a dog. Fortunately, robot vacuums make cleaning effortless, which has improved my quality of life immensely.

I've tested more than a dozen robotic vacuums in just the last year. My first step after unboxing the unit is setting the schedule to clean every day. I want to automate the process as much as possible so I have one less thing to worry about; the best robovacs make scheduling effortless. Before we share our recommendations, let's get into what we look for when testing robovacs.

How we test robot vacuums

There are several tests I put each unit through, and for the models I have personally not tested, I've extrapolated the key performance indicators based on our team's reviews as well as the testing results from trustworthy sites like Consumer Reports and The Wirecutter.

Here are the main attributes we look for and how we test them:

Completes cleaning cycle: I can't stand having to hunt down my robot because it got stuck on cords, toys, low-clearance furniture, or other obstacles during its cleaning cycle. So, as the vacuum goes about its work each day, I track the percentage of time it completes the job and returns to its dock without help.

Loudness: For this, I grab my decibel meter and hold it approximately 12 inches away from the vacuum as it runs on its most and least powerful modes. Most models run at under 70 decibels on high, while quieter models at 60 decibels or lower.

Dimensions: One of the great features of a robovac is that it can clean under beds and other furniture that you may have trouble reaching with an upright vacuum. In general, a thinner robot vacuum is more likely to squeeze under your low-clearance furniture without getting stuck. So, I measure the height and diameter of each vacuum.

Maintenance: Robotic vacuums require regular upkeep. For instance, the dustbin needs to be emptied after each cleaning. Every week or two, you should clean the filter. And, every couple of months, you will need to replace filters and brushes. I look at how easy it is to clean different parts of the robot and how easy and affordable it is to buy replacement parts. 

App features: Once considered a luxury, most new units now have Wi-Fi connectivity and a companion smartphone app. I like to play around with the app and pick out the most useful features. Some popular features you might want are zoned cleaning with no-go boundaries, joystick control of where the vacuum cleans, maps that show you where the vacuum is if it gets stuck, and more. I also test to see how well the unit runs without using the app since sometimes you may not have access to your phone.

Carpet cleaning: First, I pour a tablespoon each of flour, coffee grounds, and kitty litter on separate 18-inch-square sections of low-profile carpeting. Next, I take a picture of my mess. Then, I have the vacuum run on its most powerful mode until it needs to be recharged. Lastly, I compare the area where my mess was to the before picture and estimate the percentage of debris that the robot picked up.

Hardwood cleaning: This process is the same as the carpet cleaning testing, only it's on hardwood flooring.

Corner cleaning: You don't want an inch of dust bordering your rooms. You want a vacuum that's going to clean your place from wall to wall. That's why I test corner cleaning. I dust a teaspoon of flour – a notoriously difficult substance for robovacs - in the corner of carpeted and hardwood rooms. I take a picture of the mess. Then, I let the robot work its magic. Once it's done, I look at how close to the corner the vacuum was able to get.

Along with testing dozens of robotic vacuums, we looked at the reviews and ratings of the top models from hundreds of owners and experts as we researched this guide. Our guide features vacuums that performed well in our tests, have useful features that justify their price, and are designed to make cleaning your floors as seamless as possible for you. We also discuss what other models we looked at but didn't make our cut, and also new models that we are currently testing or will be testing.

Here are the best robot vacuums you can buy:

This guide was updated on 1/27/2020 by James Brains. We selected new recommendations based on new testing and research. We also added details on what else we considered and what products we are looking forward to.

SEE ALSO: The best vacuums you can buy for less than $300

The best robot vacuum overall

The Roborock S6 Robot Vacuum has the best suction of any robotic vacuum we've tested, features zoned cleaning, and runs quietly.

The best robot vacuum for most people at the moment is the Roborock S6, succeeding our previous favorite, the iRobot Roomba 690. I'm surprised Roborock's offerings aren't included in more guides to the best robotic vacuums. I've tested the S5, E35, S6, and S4, and the suction of these units is consistently better than any other brands on both hardwood and carpeting. I chose to give the S6 the top spot because it is Roborock's top-of-the-line model and has all of the features you'd find in more expensive robots, including zoned cleaning, smart connectivity, scheduling, 2,000-Pa suction, and mopping.

Pa is Pascal Pressure Unit, and according to Roborock, the higher the number, the more powerful the suction. Not all manufacturers list this measurement: iRobot told me the spec is not ideal for comparing robot vacuums because the measurement is recorded inconsistently. Although we mention it here and note the Roborock S6's terrific suction power, we did not use the number to determine our pick over another.

Though other expert sites dock Roborock because of the awkward app, I was still impressed with the app's functionality after I got the hang of it, which only took a few minutes of playing around. The biggest negative to me is the 3.8-inch height, which makes it hard for the vacuum to fit under low-clearance furniture. You can read my full review of the S6 here.

Tech Radar recommens the Roborock S6 because it provides the best combination of performance and features at a competitive price. In its tests, it found the mapping and navigation effective. However, it noted that the mapping software was fairly clunky, and the app overall was quite basic.

Tech Hive picks the Roborock S6 as an option that "should be considered alongside bigger-brand-name alternatives." It appreciated how the suction increased when the vacuum transitioned to carpeting and found it mopped great too. Its only negative was the limited Alexa skills.

Pros: Outstanding suction, accurate mapping and zoned cleaning, carpet boost, runs quietly, smart home connectivity

Cons: Confusing app, larger than other models

Read our full review of the Roborock S6.



The best budget robot vacuum

If you are looking for a budget-friendly workhorse and don't need high-end features, the Eufy BoostIQ RoboVac 11S is your best bet.

For its low price tag, the Eufy BoostIQ RoboVac 11S is an outstanding performer with a strong 1,300-Pa of suction and sleek 2.85-inch height that allows it to get into and out of places that most robotic vacuums can't. It comes with a remote control (batteries included), extra filters, extra side brushes, cable ties, and a 12-month warranty.  

Insider Picks' Brandt Ranj tested the 11S and recommended it as a great starter model for people who have considered a robotic vacuum but concerned about the cost. It quickly became one of the most useful gadgets in his house due to its efficiency, power, and low-profile design.

Though I have not tested the 11S, I tested its siblings the 11C Max and 15C Max, which I would not recommend due to their poor suction and a tendency for the side brushes to come off easily and get lost. I only bring these units up to stress the importance of paying attention to the model number you purchase. If you follow our link, you will find the 11S model we recommend.

The Eufy RoboVac 11S is the darling of most experts' top picks for robotic vacuums; The Wirecutter recommends it as the budget pick. It appreciated its sleek design, which allows it to get under furniture. It also found the nimble, persistent navigation system made it so the unit rarely needed attention.

Consumer Reports recommends the 11S because it received perfect scores for noise and bare floor cleaning. PCMag likes it for shoppers who are looking for a robot vacuum that can get under low-clearance furniture. And, CNET gives it the nod as the best value vacuum because it cleaned floors effectively and efficiently.

Pros: Slim design fits under low furniture, affordable, cleans quietly, does an excellent job on bare floors

Cons: Lacks high-end options like zoned cleaning and smart connectivity, doesn't perform as well on carpeting



The best high-end robot vacuum

The iRobot Roomba i7+ Robot Vacuum is as automated as it gets with automatic dirt disposal and the ability to clean specific rooms on the schedule you set.

One of the more annoying maintenance tasks of a robot vacuum is emptying the dustbin after each cleaning. iRobot, the maker of Roomba, which has become synonymous with "robotic vacuum," prides itself on staying ahead of the curve and finding solutions to customer pain points. That's why it introduced the game-changing iRobot Roomba i7+ Robot Vacuum in the fall of 2018.

Before the i7+, no vacuum was capable of emptying its dustbin. But, with the introduction of the Clean Base Automatic Dirt Disposal — the i7+ transfers its collection to a container in its dock — owners can now go up to two months before the disposable bag fills up and needs to be replaced.

The i7+ is operated using an intuitive app that iRobot is always improving, so you can essentially set your Roomba and forget it. This is the best robotic vacuum I've ever used, but it didn't make our top spot because the price point is a bit much for most consumers. If your budget allows, you should absolutely consider this on your shortlist. You can read my full review of the i7+ here.

The Wirecutter recommends the Roomba i7+ as "the best robot vac money can buy." It found it was the easiest robotic vacuum to use thanks to its ability to clean rooms on command and the self-emptying bin. However, it did note a few instances of the unit straying from the cleaning directions that were programmed into the app. And, PCMag recommends the vacuum because of its excellent camera-based navigation.

Wired recommends the i7+ because it can empty its bin. It appreciated that the rubber brushes didn't get snarled during testing. Yet, it didn't like that the Roomba i7+ requires new cleaning bags for the Clean Base every three months. 

Pros: Automatic dirt disposal, zoned cleaning and scheduling, remembers multiple floor plans, avoids areas you want it to avoid

Cons: Expensive, zoned cleaning has questionable accuracy

Read our full review of the iRobot Roomba i7+



The best for getting into corners

The Samsung Powerbot R7040 Robot Vacuum has a flat front edge design that allows it to get deep into corners to destroy your dust bunny burrows. 

Despite its midrange price, the Samsung Powerbot R7040 has many high-end features, including Wi-Fi and smart home connectivity. The flat front design makes it easy for it to get into corners. The R7040 uses Samsung's patented FullView Sensor 2.0 and Visionary Mapping Plus, which helps the vacuum avoid obstacles and create an ideal cleaning path. It also comes with a remote control and a one-year warranty.

Consumer Reports recommends the Powerbot R7040 because it did an impressive job in the review site's edge, bare floor, and carpet cleaning tests. It also found the vacuum was gentle with the test furniture and picked up most debris on the first pass. And, it noted that the device was able to easily clean corners. The only negative it mentioned is that the pet hair needed to be cleaned from the brush manually.

Pros: Wi-Fi connectivity, works with Amazon Alexa and Google Assistant, flat front edge design allows it to get into corners

Cons: Pet hair gets stuck on the brush, complaints about the app, short battery runtime



The best D-shaped robot vacuum

The D-shaped Neato Robotics Botvac D7 Connected Robotic Vacuum Cleaner is packed full of high-end features, including extra ultra-performance filters, two-hour runtime, and zone cleaning.

Neato Robotics is unique because it was the first company to make D-shaped vacuums. And, though other manufacturers have started to follow its lead (see Samsung's models and the Roomba s9+), Neato Robotics continues to innovate; the company's top-of-the-line Botvac D7 Connected Robotic Vacuum Cleaner illustrates that.

In my tests, the D7 Connected was easy to program, though I did have trouble keeping it connected to the Wi-Fi at times. The suction was excellent when picking up flour, coffee grounds, kitty litter, and pet hair. I was also impressed with how quiet it ran: 66 decibels. Plus, it was fun to tell my smart thermostat to have the vacuum start cleaning — thanks, Alexa! You can read my full review here.

Tech Hive recommends the Botvac D7 Connected because the D-shape allowed it to clean corners and edges better than its round competitors. It was also impressed with the performance of the navigation systems and found the app to be "elegantly designed." The biggest negative was the high price tag.

Wired also recommends the D7 Connected because of how easy it is to use. It appreciated the easy-to-create and effective "no-go" lines for zoned cleaning, and the attractive, low-profile look.

Tech Radar called this unit "one of the best robot vacuum cleaners we've had the pleasure of reviewing." It liked the customization options, cleaning ability, and how well it's designed.

Pros: D-shape allows it to clean corners and edges well, elegant app design, zoned cleaning, works with Alexa

Cons: Expensive, slow connectivity

Read our review of the Neato Robotics Botvac D7



What else we considered

We looked at many robot vacuum brands and models while researching this guide, and we almost included some of them. The following five vacuums barely missed the cut:

  • iRobot Roomba 960: The Roomba 960 was among our top recommendations before we updated our guide. It's able to clean large areas without getting caught up on obstacles and debris. The 960 features iRobot's outstanding app with smart controls and maps of where the robot is cleaning. It also has powerful suction and is great with pet hair. However, at its price point, other models have simply surpassed its features. 
  • iRobot Roomba 614: The Roomba 614 is incredibly similar to the more popular but increasingly harder to find Roomba 690, our previous overall favorite. The big differences are the 614 is typically cheaper and doesn't have Wi-Fi connectivity or scheduling. However, it still has excellent cleaning abilities on hardwood and carpeting. So, if you're looking for an affordable Roomba and are fine without smart features, you might consider the 614.
  • Ecovacs Deebot N79S: The Deebot N79S is a favorite among many owners of robotic vacuums. This model provides an outstanding balance of value and high-end features. It comes with a simple remote, or you can control and schedule your unit using the intuitive app. You can also offer vocal commands using Google Assistant or Amazon Alexa. Read Insider Picks' full review.
  • Neato Botvac D4 Connected: This is Neato Robotics' midrange option. Like the D7 that we recommend, it features a D-shaped design that works great for cleaning along edges and in corners. It's supported by a terrific app that allows you to clean specific zones in your home and set no-go areas. Though it's cheaper than the D7, it doesn't have as good of a filter, lacks a side brush, and has a much shorter battery runtime.
  • ILIFE V8s: The V8s was my first robotic vacuum, and it does an outstanding job of mopping and vacuuming at its price point. The cost of this model appears to keep going up. At one point, it was below $200, and if you can find it for that price, I strongly recommend picking it up. I was impressed with how well it does with pet hair, and I like how simple it is to use. You can read my full review here


What to look forward to

Every few weeks, we get new vacuums that are designed to address the problems found in previous models. Below are a few models we are currently testing or will be soon: 

  • iRobot Roomba s9+: I'm currently testing the s9+, which is designed to address consumer concerns regarding our high-end pick, the Roomba i7+. The upgrades include four times the suction power, D-shaped design to get along edges and into corners, and a seal between the vacuum and the Clean Base that keeps allergens out of the air. So far, I'm impressed with this unit, though the price is high.
  • Ecovacs Deebot Ozmo 920 and 950: I also currently have these vacuums set up in my home for testing. The Ozmo 920 and 950 are quite similar – smart navigation for zoned cleaning and setting boundaries, smart home compatibility, recharge and resume, and mopping with carpet detection. But the 950 offers you a battery runtime that is nearly twice as long, and it has a third suction level, Max Plus, that outperforms the 920's best.
  • Roborock S4: I'm wrapping up testing of the S4, it's a worthwhile alternative to our top pick, the S6; it's also cheaper. The S4 appears to have the same suction strength and smart capabilities as the S6. However, it can't mop and its battery runtime isn't as long. Still, if vacuum cleaning abilities on carpeting and wood floors are your top concerns, then you may want to skip the S6 and try the S4.
  • Shark IQ: I'm excited about testing this model because it's the first non-Roomba to features a self-empty base. Plus, it's half the price of the i7+. Therefore, the Shark IQ has the potential to bring some of the best high-end features to a broader audience.


See inside the $45 million 2-mansion Virginia estate once owned by AOL's cofounder that just became the most expensive DC-area home ever

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3 stairs from tennis ct

  • This riverfront estate outside of Washington, DC was once owned by AOL cofounder James V. Kimsey.
  • It just sold $45 million, the most expensive sale ever in the DC area, according to reports.
  • The estate consists of two buildings, a larger main residence, and a historic, smaller guest house designed by Frank Lloyd Wright.
  • Visit Business Insider's homepage for more stories.

This estate, once owned by AOL cofounder James V. Kimsey, just became the most expensive home ever sold in the DC area at $45 million, according to The Wall Street Journal.

The three-acre estate has two homes, a large main residence built recently, and a smaller historic Frank Lloyd Wright design used as a guest house. In May 2018, the property went on sale for $62.95 million. Though it sold for far less than asking, it was still the priciest DC sale ever, breaking the earlier record set by Jacqueline Kennedy Onassis' childhood home at $43 million, the Journal reported.

The home was listed with Russell Firestone and Mark Lowham of Sotheby's International Realty.

SEE ALSO: A blogger took Amtrak across the country from San Francisco to New York and recorded the whole trip on TikTok

The main house is accessed via a private drive.



Along the entrance is access to an underground parking garage, which can fit 30 cars.



The 3.2-acre estate is made for entertaining, with four kitchens and a champagne refrigerator.



Inside, a two-story living room has river views.



The main house alone is over 24,000 square feet.

Source: The Wall Street Journal



The interiors of the main house were designed by Thomas Pheasant, who also designed most of the custom furnishings.



A custom mahogany library in the home's main rotunda is cozy and inviting with more views of the Potomac.



The library also has a wet bar.



Nearby is a lounge with access to the well-stocked wine cellar.



A formal dining room is another space perfect for entertaining guests.



The main house has six bedrooms, each with a private en-suite bathroom.



The master suite is located in a private wing of the main house, which also has a private study, sauna, Jacuzzi, and dressing room.



The outdoor terrace offers yet another view of the Potomac..



... plus an infinity pool and spa.



Kimsey bought the property in 1999 for nearly $8 million, according to the Wall Street Journal.

Source: The Wall Street Journal



In 2000, he bought The Marden House, designed by Frank Lloyd Wright, for $2.5 million.



The house dates back to the 1950s, and is one of only a few Wright designs in Virginia.



Like the main house, it was designed to allow for stunning views of the river and natural landscape.



The guest house has some of Wright's signature features, including using natural materials and incorporating a seamless transition between indoor and outdoor spaces.



Large windows let in natural light.



Outdoors, the southern side of the estate has a full-size tennis court.



Next to the tennis court is the private garden, with a path used to access the guest house.



The estate's vantage point on a hill overlooking the Potomac takes advantage of beautiful views.



Gen Zers have a spending power of over $140 billion, and it's driving the frenzy of retailers and brands trying to win their dollars

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Barneys New York

  • Retailers and brands are still trying to figure out how to appeal to Gen Z, the generation that currently spans the ages of 7 to 22 and has a spending power of $143 billion. 
  • Business Insider spoke to industry experts about how companies can court this generation, whose spending habits and expectations vary substantially from older generations. 
  • "The prevailing cultural narrative often pegs Gen Z as a digital generation," said Jeremy Baker, chief technology officer and cofounder of Retail Zipline. "The reality is they care about connections and community."
  • Visit Business Insider's homepage for more stories.

It's no secret that the retail industry went through a shakeup in the last decade.

The 2010s alone saw the closure and bankruptcy of many iconic brick-and-mortar stores, including the once-beloved Henri Bendel, Payless Shoesource, Sports Authority, (briefly) Toys R Us,Victoria's Secret, and perhaps most notably, Blockbuster and Barneys New York

Most of these stores suffered from stagnating sales, while others struggled against the rise and popularity of e-commerce and online retailers, in addition to the changing tastes of the millennial and Gen Z cohorts. A study conducted by Influential— an artificial intelligence and social data company that connects influencers with brands — found that consumer technology and fashion retail were the top two areas that had substantial year-over-year increase in social mentions, with an 89% and 128% increase respectively.

For stores looking to connect with Gen Zers — who have a spending power of $143 billion and will account for about 40% of global consumers this year— it's clear that retailers and brands need to invest in researching how this new generation shops, even if it means disrupting traditional blueprints. One of the biggest issues for traditional retailers and brands to overcome will be the rise of more direct-to-consumer (DTC) and e-commerce brands, who are able to provide more of an intimate and personalized experience for shoppers. 

The secret to Gen Z marketing success

According to Influential's study, the top three fashion brands mentioned among Gen Zers are Vans, Adidas, and Nike. This is in line with data from consulting agency Interbrand, which listed Nike and Adidas as two of the top global brands in 2019, with a $32.3 billion and $11.9 billion brand valuation respectively. But they aren't the only brands who have successfully courted the younger generation. 

Gucci, for example, had great success in the last decade when it came to attracting Gen Z. As Interbrand reported, Gucci was 2019's fastest growing luxury brand, with a growth rate of 23% and brand valuation of $15.949 billion — nearly double the valuation it had when Alessandro Michele first took over as creative director in 2015. In addition, in a 2017 interview with CNBC, Francois-Henri Pinault (the chairman and CEO of Kering, Gucci's parent company) said that nearly 50% of Gucci's sales were coming from millennials. Today, Interbrand reports that number has jumped to more than 60% with their fastest growing audience being Gen Z. 

Gucci

To court younger generations, Gucci employed a "Millennial Shadow Committee" to help make decisions about the best way to connect with shoppers. The luxury brand also partnered with modern day icons such as pop star Harry Styles and photographer Petra Collins, and launched inclusive advertisements and collaborations, in addition to taking steps towards becoming a more sustainable company— all moves which appeal directly to younger shoppers. 

"This type of interactivity between a consumer and a brand that's more relational resonates as authentic rather than a brand that's presenting to you a product and selling it to you," Steve Mormoris, CEO and founder of Edge Beauty, told Business Insider. "Consumers have mobile phones in which they're able to interact with brands, but on a more frequent basis than 30 years ago where you would only interact with the brand when you saw [it on] television, and then the next day you walked into a store to buy it."

Nordstrom demonstrates a brick-and-mortar retailer's secret to success

On the retail front, Nordstrom has remained a popular destination for e-commerce brands looking to enter into the brick-and-mortar sphere. Brands like DTC beauty company Glossier, sustainable clothing company Reformation, and luggage company Away are popular with both millennials and Gen Z, and Nordstrom's partnerships with each allowed for the companies to be introduced to customers they otherwise might not have been exposed to. 

"People are not finding a deep degree of gratification or satisfaction going into a luxury department store anymore. And why that exactly is, I don't know," Mormoris previously told Business Insider. "I think a lot of it has do with people looking for physical spaces that make them feel comfortable and [where] there's some degree of intimacy in the shopping process."

Glossier Pop up

Pop-up shops have become the new favorite for various e-commerce and direct-to-consumer brands looking to create curated experiences for shoppers, rather than commit to the longterm, often impersonal feel, of a traditional retail shopping experience.

Though, to court younger consumers, it might be best for brands to focus less on pop-up experiences, and more on establishing a long-term presence — at least according to one study conducted by communication management company Retail Zipline, which found that many Gen Zers prefer longstanding retailers over pop-up shops. 58% of Gen Z respondents saying they would rather shop in stores with an established presence, compared to the 11% who preferred pop-up shops.

"The prevailing cultural narrative often pegs Gen Z as a digital generation that gets caught up by trends they see on social media," Jeremy Baker, chief technology officer and cofounder of Retail Zipline, said in a press release sent to Business Insider. "The reality is they care about connections and community — we know this because they prefer to shop in situations where they can chat with their friends, engage with store associates, and feel confident that their purchase decisions are supporting businesses that treat employees well."

Nordstrom's traditional brick-and-mortar setting, combined with the intimate experiences of a pop-up, has allowed for the retailer to establish itself as good partner both for brands and for shoppers.

Glossier Pop up

In 2013, the retailer launched its "Pop-In@Nordstrom" series, which showcases new pop-ups every four to six weeks. Oftentimes, the pop-ups sell exclusive-to-Nordstrom merchandise, Business of Fashion reported. In October 2019, CNBC reported that, in addition to working with Reformation and Glossier, Nordstrom has also worked with shoe retailers Allbirds and Birdies, jeweler Kendra Scott, and beverage company Dirty Lemon.

The industry's secret to longevity lies in appealing to both ends of the consumer spectrum

For traditional retailers and brands, their survival in this next decade will depend on their ability to engage young shoppers, according to Gensler, an architecture firm that designs retail stores. This means creating intimate experiences and personalized moments, in addition to establishing an authentic identity.

"On some level, all companies and all brands strive for this concept of authenticity," Mormoris told Business Insider. "The difference is today, people find authenticity in a messaging that tends to be relational rather than transactional. Very often, consumers like a brand that admits they make mistakes, that asks them to participate in the creation of the brand or is involved in charity giving or making the planet better."

But as the adaptation to appeal to the young goes into full effect, the industry must also not forget the still expansive spending power of Gen Xers and baby boomers. On January 5, The Guardian, citing research from the International Longevity Centre-UK, reported that ageism could cost the fashion industry over $14 billion in the next 20 years.

"Fashion and beauty brands have been ignoring their older customers for ages. Rather than trying to reach this savvy demographic, they prey on their insecurities and use fear and ageist propaganda to sell beauty products that promise the ridiculous and harmful ideology of 'anti-ageing'," Ari Seth Cohen, creator of the blog Advanced Style, told The Guardian. "There have been numerous beauty and fashion campaigns featuring silver-haired models, but I don't think brands have quite figured out what their older customers want and how to reach them."

SEE ALSO: 3 entrepreneurs at the helm of fashion and retail startups all say Instagram's decision to hide likes is 'for the greater good' — but it will inevitably disrupt how brand marketing works

DON'T MISS: The ultrawealthy are hiring former special-ops soldiers as 'nannies' for their kids, paying as much as $200,000 a year

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How to use Byte, the new 6-second video-sharing app hoping to succeed Vine and compete with TikTok

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byte app thumb

  • Byte is a newly released app for watching, creating, and sharing six-second videos.
  • The app is already being touted as a successor to the popular app Vine, which shut down in early 2017, and a worthy competitor to TikTok, the app that's adored by Generation Z and behind some of the internet's most viral memes.
  • Here's how to use Byte, which was released publicly on Friday, to discover clips and create videos of your own.
  • Visit Business Insider's homepage for more stories.

The long-awaited successor to Vine, the video-sharing app that launched the careers of internet celebrities like Jake Paul and Logan Paul and memes like "back at it again at Krispy Kreme," was released Friday for users to create and share six-second looping videos.

Byte was made available in iOS and Android app stores last week following more than two years of operating in beta and building anticipation. The app is led by Vine cofounder Dom Hofmann, who saw his original video app killed in early 2017.

Byte draws similarities to its predecessor Vine: videos are maxed out at six seconds, play in loops, and can be re-posted to other users' accounts to share with their followers. However, the new 2020 atmosphere for social platforms means that Byte is up against TikTok, the wildly popular app well past 1.5 billion downloads.

Here's everything you need to know about how to use Byte for watching, sharing, and creating six-second videos:

SEE ALSO: The first download numbers for Byte, the app heralded as Vine 2.0, show it still has a long way to go to catch up to TikTok

The home page of the Byte app is your feed for discovering content from a variety of users across the platform. If you've ever used TikTok, this page will look familiar: To find more content, scroll vertically and the next video will automatically start playing. Aside from commenting and liking photos, users can also reblog videos: You can see if the video on your feed was reposted if there's a note above the caption.



Next to the comment and heart icons, each video has an arrow with additional actions: share the video, repost the video to your Byte feed as a "rebyte," and report the video for being inappropriate or in violation of Byte's community guidelines.

You can view the guidelines for the content allowed on Byte on the company's website.



Under the sharing button, Byte users are given options to distribute a video via text message, email, and a variety of social platforms. However, it's important to note that Byte videos don't have links. That means that the only way to share a video is right from Byte's app: You can't copy and paste a link to your friends. Videos still display a tag that says Byte is in a beta version.

A Byte spokesperson told Insider that the team was "planning on" implementing links into Byte for videos and user profiles.



The second tab on Byte is where users can discover videos broken down by category and channel, including "pets," "chill," "experimental," and "weird" (which is currently spelled incorrectly as "wierd" in the app). This tab also has a search bar — however, it can only be used for searching by username, and there's no option for searching by caption or video contents (like on TikTok).



When you click on or discover a Byte user, the app will display their profile (on the left). This is where you can see all of the videos of a certain user, and choose to follow them so they can appear high up in your home feed. On each profile, you can also block or report the user, or choose to view the user's "rebytes" to see the type of content they like from others.



The lightning bolt icon in Byte's horizontal menu bar is for your activity, such as new followers, and likes, comments, and reblogs of your videos.



The right-most icon is where you can find your Byte profile. User profiles can be pretty personalized: Besides adding a profile photo, display name, and short bio, users can choose from a variety of color schemes to apply to their profiles.



Also in your profile tab is the settings menu, where users can sort through and get more details about how they interact and use the app. The most important settings may differ depending on how you use the app. If you're mainly a browser and viewer of videos, you can see the videos you've liked and reblogged. If you're a creator, you may be more interested in the stats tracking your number of followers and video views (called "loops").



For Byte users who want to go beyond viewing videos, the app's section for content creation can be found under the middle circular button. Byte will pull up a simple content studio, with buttons for recording and switching between front and back-facing cameras. The progress bar at the top tracks how much more time you have in your six-second timeframe to add additional clips.



Under two buttons, Byte allows users to to upload videos from their phone and integrate them into their Byte videos. You can cut and edit the video segment you want to use for your video in the Byte app.



Byte's main competitor, TikTok, has a variety of popular, high-tech effects available to users for their video creations. Meanwhile, it appears Byte has only one filter: "ghost mode," where you overlay an image onto a video you're recording.



Once a few seconds of video has been recorded for your Byte, a white arrow at the top-left corner of the screen will appear, allowing you to publish your video. Before publishing, you can give your video a caption and add it to a channel, which users can click on in the explore tab.



Byte is still in its early stages, and it's likely the app will change and address issues as more users download the app. In its first weekend after being released Friday, Byte attracted 780,000 downloads on both iOS and Android devices, according to data from app analytics firm Sensor Tower.

Source: Business Insider



See what Lowe's looked like when the home-improvement giant first opened (LOW)

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Lowe's early store

  • Lowe's can trace its roots back to 1921.
  • That's when a businessman named Lucian Lowe founded North Wilkesboro Hardware in Wilkesboro, North Carolina.
  • Lowe's son, Jim, and son-in-law, Carl Buchan, would later run the business together.
  • Buchan would eventually spin off the company's hardware business in order to kick off the modern-day Lowe's. 
  • Visit Business Insider's homepage for more stories.

Lowe's is a mainstay for customers tackling home-improvement projects. 

The North Carolina-based chain may be one of the largest home-improvement retailers in the world. But the business actually got its start as a single general store.

That small-town model eventually gave way to a larger regional chain of hardware stores, and as the company grew it began to take on more of the look of the modern-day Lowe's.

Here's a peek at what Lowe's stores looked like back in the day:

SEE ALSO: How Lowe's CEO Marvin Ellison went from making $4.35 an hour as a Target security guard to running the second biggest home-improvement retailer in the US

DON'T MISS: A look back at Lowe's journey from small family hardware store to retail giant

SEE ALSO: What Walmart, Costco, and other famous retailers looked like when they first opened

Lucius Lowe founded North Wilkesboro Hardware — a general merchandise store — in Wilkesboro, North Carolina in 1921.

Source: Business Insider, "Make It New: Essays in the History of American Business," "Principles of Supply Chain Management," Business North Carolina, Wilkes Journal Patriot, Lowe'sThe New York Times, Crunchbase



That business was a precursor to the modern-day home-improvement chain.

Source: Business Insider, "Make It New: Essays in the History of American Business," "Principles of Supply Chain Management," Business North Carolina, Wilkes Journal Patriot, Lowe'sThe New York Times, Crunchbase



After the founder's death in 1940, the store went to his daughter Ruth. She sold the business to her brother Jim, and kept the store running while he and her husband Carl Buchan served in World War II.

Source: Business Insider, "Make It New: Essays in the History of American Business," "Principles of Supply Chain Management," Business North Carolina, Wilkes Journal Patriot, Lowe'sThe New York Times, Crunchbase



In 1943, Jim Lowe took on Buchan as a partner. Lowe's officially became a general merchandise chain in 1949 and boasted 15 stores in total by 1960.

Source: Business Insider, "Make It New: Essays in the History of American Business," "Principles of Supply Chain Management," Business North Carolina, Wilkes Journal Patriot, Lowe'sThe New York Times, Crunchbase



But Lowe and Buchan differed on the direction the chain should go in.

Source: Business Insider, "Make It New: Essays in the History of American Business," "Principles of Supply Chain Management," Business North Carolina, Wilkes Journal Patriot, Lowe'sThe New York Times, Crunchbase



The pair split up in 1952, with Lowe taking on the grocery side of the business and Buchan sticking with hardware.

Source: Business Insider, "Make It New: Essays in the History of American Business," "Principles of Supply Chain Management," Business North Carolina, Wilkes Journal Patriot, Lowe'sThe New York Times, Crunchbase



Buchan's vision helped the company capitalize on the post-war building boom, and would pave the way for the modern-day Lowe's.

Source: Business Insider, "Make It New: Essays in the History of American Business," "Principles of Supply Chain Management," Business North Carolina, Wilkes Journal Patriot, Lowe'sThe New York Times, Crunchbase



However, the business's future became unclear once more when he died in 1961 at the age of 44.

Source: Business Insider, "Make It New: Essays in the History of American Business," "Principles of Supply Chain Management," Business North Carolina, Wilkes Journal Patriot, Lowe'sThe New York Times, Crunchbase



The company's executive team — Leonard Herring, Pete Kulynych, Joe Reinhardt, John Walker, and Bob Strickland — enacted a profit-sharing plan to allow the employees to own the company.

Source: Business Insider, "Make It New: Essays in the History of American Business," "Principles of Supply Chain Management," Business North Carolina, Wilkes Journal Patriot, Lowe'sThe New York Times, Crunchbase



Lowe's went public in 1961 and was listed on the New York Stock Exchange in 1979.

Source: Business Insider, "Make It New: Essays in the History of American Business," "Principles of Supply Chain Management," Business North Carolina, Wilkes Journal Patriot, Lowe'sThe New York Times, Crunchbase



Lowe's said that 1984 marked the first year it raked in $1 billion in sales. That year saw the company net $25 million in profits.

Source: Business Insider, "Make It New: Essays in the History of American Business," "Principles of Supply Chain Management," Business North Carolina, Wilkes Journal Patriot, Lowe'sThe New York Times, Crunchbase



In a statement on its history, Lowe's said that the "modern" iteration of its company began in 1994.

Source: Business Insider, "Make It New: Essays in the History of American Business," "Principles of Supply Chain Management," Business North Carolina, Wilkes Journal Patriot, Lowe'sThe New York Times, Crunchbase



That being said, Lowe's' early rise from a small-town general store to a forward-looking hardware chain represents the momentum that the company would use to grow into the one of largest home-improvement retailers in the country.

Source: Business Insider, "Make It New: Essays in the History of American Business," "Principles of Supply Chain Management," Business North Carolina, Wilkes Journal Patriot, Lowe'sThe New York Times, Crunchbase

Send tips to acain@businessinsider.com.



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