 |
|
|
|||||
Zohran Mamdanis victory in the New York City Democratic mayoral primary is sending shockwaves through the real estate market. But even though the 33-year-old won at the polls, some influential New Yorkers aren’t sold on his democratic socialist policiesincluding a promise to freeze rents. The mayoral candidate campaigned on a promise to immediately freeze the rent for all 2 million-plus New Yorkers living in rent-stabilized apartments, and to triple the citys stock of affordable housing by constructing 200,000 new units over the next 10 years. That plan is certainly ruffling some feathers. Mamdani’s mayoral primary victory in June was followed by a one-day sell-off in shares of companies with significant exposure to the New York real estate market, as well as threats of a mass exodus by some of the citys wealthiest denizens. Such policies might sound attractive (and clearly appealed to voters), but there are those in the real estate industry who are skeptical. In particular, some experts caution that while Mamdani is well-intentioned, he may be naive about the realities of New Yorks housing situation. And even if a rent freeze could be enacted rather quickly, it takes many years to get an adequate supply of new housing on the market. The concern among the real estate community is that while a rent freeze might provide short-term relief for tenants, it also risks raising market rents and causing long-term damage to building maintenance, rental supply, and investment interest, John Walkup, cofounder of New York-based UrbanDigs, tells Fast Company, noting that a rent freeze could accelerate the bifurcation between rental rates for regulated versus market-rate housing. According to Walkup, if landlords with mixed portfolios of housing units aggressively increase the rents for market-rate apartments to offset the losses for regulated units, the people who ultimately stand to pay the price of well-intentioned policies are other renters. And there are other potential consequences: Landlords could defer maintenance or upgrades, while there might be a rise in warehoused units that landlords intentionally keep off the market. (Mamdanis campaign did not respond to several requests to offer comment on the arguments described in this story.) Maintenance woes Landlords of smaller properties are going to face the most challenges, argues Peter Bafitis, managing principal at RKTB Architects in New York. Many buildings with subsidized and rent-stabilized housing are older, and older buildings typically require more maintenance. Meanwhile, Bafitis says, the cost of materials and labor have skyrocketed in recent years. These owners are struggling to keep up with regular building maintenance and needed repairs, he says. Whats been happening is that these smaller landlords have not been renovating apartments and theyre letting them be vacant because the finances dont make sense. These landlords rely on moderate rent increases to maintain their buildings, Bafitis says, noting that if thats taken off the tableand theres no commensurate relief for landlords, say in the form of reduced taxes or utilities coststhey will face a legitimate burden that will ultimately affect renters. Supply issues Like Walkup, Bafitis says any holistic solution to New Yorks housing problem must address supply: If you only deal with one side of the equation, its not going to work. The construction of regulated housing depends on private investment, but a rent freeze could deter outside investments in buildings that are often valued based on potential rent increases, Walkup says, noting that if theres no carrot for investorsbe it in the form of rent increases, subsidies, or tax incentivesthey could find it less appealing to invest in regulated buildings and more attractive to invest in market-rate buildings instead. Because of the public-private partnership thats required to build this type of housing, if elected, Mamdani would have to find a way to partner with the private sector. There has to be something in it for them, thats the only way for it to work, Bafitis says. And even with partners on board, there are logistical hurdles to overcome. Building a large supply of new houses quickly? Fuggedaboudit, Bafitis says. “Not in New York City.” Thats a reality he deals with on a daily basis as an architect. Whereas it once took one to three years to bring a small-scale project to completion, the timeline has now stretched to more like five to seven years. Its just because of the red tape, he says. Its mind-boggling. Finding middle ground While both Walkup and Bafitis commend Mamdani for focusing his campaign on issues of housing affordability, they say a holistic solution is necessary to truly address this problem. And, to be fair, there are a lot of ifs to be sorted out between now, the general election in November, and Mamdani potentially taking office. Like many politicians before him, Mamdani, if elected mayor, may walk back some of the promises he made as a candidate. While a rent freeze is a great slogan, Mamdani would have to be a consensus-builder as mayor and find ways to work with the various well-entrenched forces in the industry, Bafitis says, adding, Housing is an incredibly complicated business in New York. Finally, all the bluster this month about Mamdanis potential impact on the housing market might be a bit much, particularly with more than three months until the general electionand plenty of time for him to refine his agenda. Usually, the initial reaction is a knee jerk that leans in the direction of the worst-case scenario, Walkup says.
Category:
E-Commerce
Sextech has always operated without the safety nets most industries take for granted, and because of this, entrepreneurs in the space have become experts at navigating structural barriers. Whether in the face of ad bans, payment processor restrictions, social taboos, regulatory gray areas, or even economic downturns, sexual wellness brands have continued to innovate and expand the market, which was estimated at $42.6 billion in 2024 and is projected to reach $82 billion by 2030. But in 2025, with President Trumps ongoing trade war with China creating economic whiplash, sextech brands are scrambling to adapt. Its incredibly difficult to create a strategy during times of economic volatility because its impossible to predict what will happen next, says Polly Rodriguez, cofounder and CEO of sexual wellness brand Unbound, whose products are manufactured in China. Any long-term strategy is null and void. So instead, weve stayed . . . nimble, working closely with our manufacturers and freight forwarders to respond to daily changes in trade policy. Polly Rodriguez [Photo: courtesy Unbound] To help absorb the cost increases that tariffs have levied on her business, Rodriguez says shes started bundling freight costs, cutting back on packaging, and sending goods via slower carrier methods. Right now, tariffs on Chinese-made goods stand at 51%, but that could balloon to 145% if a trade deal is not reached by August 12. Either way, Rodriguez says there wont be any going back to business as usual. If the first 100 days of this administration have taught me anything, it’s to expect nothing but sheer chaos, she says. I’m not expecting any long-term stability anytime soon. [Photo: courtesy Unbound] Todays political and economic climate has become even more challenging by the global reality of manufacturing: Most of it happens overseas. An estimated 70% to 80% of the world’s sex toys are made in China. That includes the raw materials sourced from mainland China, not to mention the custom molds, which are too heavy to transport stateside. Currently, there is just nowhere else in the world that can manufacture the goods we make anywhere close to the level that China can, Rodriguez says. It does not make financial or economic sense to move our manufacturing out of China, and I think anyone worth their salt in the adult industry would agree with me. [Photo: courtesy Unbound] Still, she insists this crisis has only strengthened her relationships with suppliers. Over the last nine years, we’ve developed lasting relationships with the individuals who run these manufacturing facilities, Rodriguez says. They are an extension of our company, and there would be no Unbound without them. We share holiday greeting cards, baby and vacation photos, and look forward to visiting them every year in Shenzhen. We care not only about their businesses but about them as individuals, as our partners and friends. [Photo: courtesy Unbound] An industry under attack While founders like Rodriguez are weathering the economic turbulence, a broader conservative resurgence, particularly in the U.S., is impacting sexual wellness brands as well. Were seeing brands in this space really struggle right now, says Bryony Cole, sextech founder and global trends expert. Whether its Sephora pulling back from their sexual wellness section or investors becoming more cautious, anything tied to sexuality or bodily autonomy feels under attack right now. For an industry that was finally gaining mainstream legitimacy, breaking into national retailers and riding the tailwinds of the MeToo movement, todays cultural climate feels like a sharp reversal to the progress made over the past decade. There was this influx of optimism and innovation 10 years ago, Cole recalls. We thought female-founded brands were finally going to make it. But today, its more like were operating in the shadows, just trying to withstand the storm. And though Cole notes that sextech has never operated in a truly stable environment, the difference now is the scale and intensity of that volatility. Cole, who founded Sextech School, a pre-accelerator designed for entrepreneurs, job seekers, and investors entering the sextech market, points to a wave of diversification as founders explore digital education, alternative revenue streams, and community-based funding strategies. /p> At Sextech School, we think a lot about how to move beyond just delivering physical products, Cole says, noting that there are online programs and new verticals available. People are getting smarter by necessity and fostering more support for one another within our community. But lean operations are only part of the survival equation. So is faith in the long arc of cultural progress and the staying power of sexual wellness. In 1970, only 1% of women used vibrators, Rodriguez says. Today, its over 65%. That trajectory doesnt reverse just because a bunch of old white men are uncomfortable with us enjoying our bodies. Still, neither Cole nor Rodriguez is naive about what lies ahead. Cole worries that many small businesses wont survive the combined pressures of economic chaos and social regression. Its tough to predict, she says. But I always talk about through-topia, the idea that even amid dystopia and utopia, some incredible things can still emerge. . . . We just have to hold the line and keep going.
Category:
E-Commerce
This year alone, companies have announced over 740,000 job cuts so far, a high since 2020. And thats just in the US. But for a growing number of professionals (even before 2025), the solution hasn’t been in polishing their résumés, but in building personal brands that create true job security for them. Building a personal brand can let you: Showcase your talents Create an audience/network Get people to know who you are, what you do, and what to come to you for When done well, a strong personal brand attracts job offers before roles are even posted, leads to consulting or speaking opportunities, and opens the door to new networks that cant be accessed with a résumé alone. For me, building my personal brand over the past 10+ years has meant creating content online (mostly on LinkedIn & Twitter), and writing for publications like Entrepreneur, Inc., The Next Web, and many others. All these efforts have opened a lot of doorsfrom starting out as a freelance writer to running a six-figure content marketing agency, and then eventually becoming the cofounder of Leaps (an AI platform that helps people and teams turn their raw expertise and experience into content that builds their personal brands). For this article, I spoke with four professionals whove used their personal brands to turn their careers around. Andres Vourakis, a data scientist, built a safety net of opportunities and extra income after layoffs shook his early career. Ana Calin left a 15-year executive role and became the creator of one of Substacks fastest-growing newsletters, giving her complete freedom and a thriving business. Paul O’Brien, a veteran marketer, leveraged his reputation to evolve from the SEO guy into a thought leader on startup economics and public policy. And Joei Chan, once a content marketing leader, turned unemployment into a creative rebrand that now draws clients who want her to tell their truth, show up fully, and build their brand with authenticity. We got into fears, breakthroughs, identity work, and how building a personal brand is transforming not just their careers, but their lives. From layoffs to lightbulbs What made you realize you needed a personal brand, and how did that moment spark your journey? Andres Vourakis: I was unfortunately laid off early in my career, and that experience opened my eyes to the real meaning of job security. I realized that job security wasn’t about working hard to become an essential worker, because at any moment, a business could decide to let you go. And over the past few years, I’ve seen many talented friends become victims of massive layoffs in tech. Thats when it really clicked for me: real job security is staying future-proof. Building my personal brand is not only allowing me to grow, share my data science expertise, and connect with lots of great people, but its also helping me generate extra income. It helps me sleep better at night knowing that my livelihood wont be decided by a business that may no longer find my work valuable tomorrow. Ana Calin: I didnt set out to “build a personal brand.” I just wanted freedom. I had just left my 15-year executive role; big title, global travel, the whole you made it package. And yet, I felt done, ready for something that felt mine. I remember staring at a blank LinkedIn post, wondering what to say. I had no niche, no strategy, no idea what people would care about. But I wrote anyway, about quitting, about reinvention, about starting from scratch. And people listened and responded. That was the spark. From that one post came DMs, leads, and ultimately a real business. The first step: finding the confidence to show up What was your very first step in building your personal brand, and what gave you the courage to share it publicly? Joei Chan: The first real step was launching Brand New, my Substack newsletter. I was freshly unemployed, creatively raw, unsure of my next chapter. But I had this deep urge to tell the truth. To turn my mess into a message. So I started writing. When I started posting online after being fired, there was definitely hesitation. I worried about looking unprofessional, scaring off future employers, or being labeled as emotional or difficult. But now I see vulnerability as a creative strategy. Its not oversharing, its storytelling that names the deeper truth and helps others feel less alone. From there, I started a video series called “Rebranding My Life After Losing My 9 to 5.” It was scrappy and personal, just me, documenting the messy middle. Paul O’Brien: Having come from Yahoo! and then helping HP take advantage of search engine optimization (SEO) and Google, it just clicked and made sense to kick off my personal brand and start sharing my expertise in public. What gave me confidence was that in 2002, very few people knew how to do SEO. Confidence to put yourself out there often comes from knowing that people will find value in what you have to offer. Ana Calin: I stopped trying to sound smart and started sounding like myself. I didnt have a niche, and I wasnt selling anything. But I had real stories about quitting, reinventing, and failing forward. I wrote a post on LinkedIn about walking away from my executive role. And it wasnt the highlight reel; the actual messy version. No strategy or call to action, but just truth. That one post brought in over 50,000 views. And that gave me the nudge I needed. The unexpected rewards of showing up authentically Looking back, whats one surprising way your life or career has improved because of your personal brand? Ana Calin: I thought I was building a brand. Turns out, I was building a life. One with no boss, no Sunday scaries, no pretending. I found my voice, the one I had buried under professionalism for 15 years. And when you find your voice, everything shifts. And you stop chasing opportunities, you start choosing the ones to accept as they come, thanks to your personal brand. Joei Chan: I feel more me than I have in years. What began as a career crisis became the greatest rebrand of my life. It led me back to my voice, my creativity, and a deeper truth: The branding and creative work I love isnt just strategic, its spiritual. And unexpectedly, this is the work people now come to me for: helping them reclaim their own story and show up fully as themselves. Paul OBrien: Being out there lets you evolve over time, as we all do. I started out known for SEO; I even leaned int it with the nickname SEOBrien, thanks to my early work at Yahoo! and HP. But as I kept writing and sharing, my interests shifted toward startups, economic development, and innovation. Over time, the content I created followed that shift, and so did my audience. Now, instead of being known for search, Im sought out for my work as a startup economist and my perspectives on public policy for entrepreneurs. That evolution wouldnt have happened without a personal brand that allowed me to grow in public. Andres Vourakis: Its improved my confidence, my ability to communicate ideas, and even how effectively I do my work as a data scientist. Ive spent so much time reflecting on what I do and why I do it, especially when creating content, that I now have way more clarity in how I approach problems and explain my thinking. Your story is your safety net Traditional job security is fading away fast. I cant count how many top performers Ive seen with impressive résumés who are finding themselves out of work with little warning. But what does exist, and is increasingly powerful, is the ability to position your skills and experience in a way that makes people want to work with you. Thats what a personal brand does. It makes you visible, builds trust, and shows not just what you do, but how you think. And that combination attracts new opportunities (job offers, clients, collaborators, even investors) often before roles are ever publicly posted. Personal brands are the new, real job securitythe safety net that ensures people know who you are, what you bring to the table, and why youre worth betting on. So start now. Start sharing your expertise, your story, your perspective. The earlier you build your brand, the more protected, and in demand, youll be.
Category:
E-Commerce
All news |
||||||||||||||||||
|
||||||||||||||||||