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Kardashians slam Instagram, J. Crew reveals new men’s line, Adele ticket prices skyrocket

In this article:
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Yahoo Finance anchors discuss three other news stories today, including Kim Kardashian and Kylie Jenner criticizing Instagram for trying to be too much like TikTok, J. Crew's new menswear, and the price of Adele's Las Vegas residency concert tickets.

Video Transcript

[MUSIC PLAYING]

BRAD SMITH: Welcome back, everyone. It is time Cut The Time, three stories, one minute each.

So we start with this, hey, Kylie Jenner and Kim Kardashian have slammed Instagram saying it needs to stop being like TikTok. The famous sisters posted to their hundreds of millions of followers that they, quote, "just want to see cute photos of my friends." Samesies.

I think at the end of the day, though, they've got a point. Instagram and Facebook have been trying to be so much like TikTok because of the user experience that has garnered so much attention for the next generation of social media users. When really it comes back to the algorithm and how good the TikTok algorithm has been, even to the point where it's entered into common conversations about what it serves up for a TikTok user versus an Instagram user.

JULIE HYMAN: None of us are TikTok users, is that right?

BRIAN SOZZI: I'm on there. I lurk. But I'm not a big poster.

JULIE HYMAN: Yeah, I wonder if it's "be careful what you wish for" situation also because the more these other-- I mean, all of the social media companies are under scrutiny. I think right now, TikTok is under particular scrutiny for videos that encourage people to do bad stuff that's on the platform. And so I wonder if Instagram risks falling into that kind of--

[BUZZER BEEPS]

BRIAN SOZZI: I tie this all together, Meta is still behind TikTok. Probably a bad quarter when Meta reports very, very soon. Tying all dots. All right, "The Wall Street Journal" asking pivotal question, can J Crew CEO get men excited about khakis and vests? A fresh collection from the new men's designer was rolled out yesterday. If you like bleached jeans, it might be for you.

Let's show some of these photos here. There you can see the new look of J.Crew. Those are not the bleached jeans, but there is that vest that maybe I will be picking up. Maybe Brad will be picking--

BRAD SMITH: No.

BRIAN SOZZI: --up that vest. I-- and there are the bleached jeans.

JULIE HYMAN: I kind of like those actually.

BRIAN SOZZI: I'm all like-- don't like any of them now. J.Crew's new CEO Libby Waddle trying to turn this company around. They famously entered bankruptcy during the pandemic. But look, it's going to be a tall order to get people to buy bleach jeans and essentially cowboy vests inside of a recession, especially considering when these premium-priced products are not going to be in style next year. I will not be wearing that cowboy vest next year. I'm not wearing it.

BRAD SMITH: I don't think many people are going to be wearing the Argyle cowboy vest that really just kind of substitutes is Woody from "Toy Story" cosplay.

[LAUGHTER]

But I think for the jeans, they've got some legs.

BRIAN SOZZI: Would you wear those jeans?

BRAD SMITH: I would Wear the jeans, yeah.

BRIAN SOZZI: You would wear those jeans?

JULIE HYMAN: Yeah, I like those jeans.

BRIAN SOZZI: Really?

JULIE HYMAN: I want to see the ladies stuff. I would wear a ladies version of those jeans.

BRIAN SOZZI: If somebody is watch-- when you're watching this right now, please, hit us up at Twitter. I'm curious, if you would buy those bleached jeans, I need to know. Maybe I'm not as cool as I used to be. Clearly, I'm missing the boat.

[BUZZER BEEPS]

JULIE HYMAN: [CHUCKLES] Finally.

BRAD SMITH: [INAUDIBLE].

JULIE HYMAN: If you're an-- no, that's all right. If you're an Adele fan, you've been waiting a while maybe for the rescheduled tour to begin. She was originally scheduled for January, now rescheduled. People were upset when it got canceled at that point.

But you better hope it was worth the wait. The most expensive tickets for her Las Vegas residency could reportedly set you back $40,000 a seat. Now, to be clear, there are only two tickets on sale right now that are above $40,000. They're around $41,000. I think they range from $600. So you know, they're not cheap, specifically for those Las Vegas shows.

But to me, this illustrates-- and we were talking about the Bruce Springsteen tickets as well recently-- like what does this say also about spending right now? That there is a market at the higher end for these kinds of tickets. It's in the experience category, though.

So this lends some credence to the idea that not only maybe are people prioritizing needs over wants, maybe it's also, you know, needs and fun things to do versus fun things to buy and have? I don't know.

BRIAN SOZZI: Hello.

[LAUGHTER]

JULIE HYMAN: I thought you were gonna launch into a whole thing.

BRIAN SOZZI: These ticket prices reflect why the Fed probably needs to come out tomorrow raise rates by 100 basis points. Boom, done.

JULIE HYMAN: What?

BRAD SMITH: I think that if you're paying $40,000, I would hope to have, I don't know, lunch, a drink, dinner with Adele and Rich Paul.

[BUZZER BEEPS]

I want to talk to both of them at that point.

JULIE HYMAN: Yeah, I don't think that's included--

BRAD SMITH: It's not?

JULIE HYMAN: --in the price. Sozz, I thought you were going to launch into--

BRIAN SOZZI: Hello.

JULIE HYMAN: That's all you have?

BRIAN SOZZI: [LAUGHS] That's all you get. That was my Adele.

BRAD SMITH: Consumer's saying, go easy on me is what I think you were going towards.

JULIE HYMAN: Yeah, I don't know what that--