Shakeups at The Cut
New York Magazine hires a strategic advisor for the site.
Good morning everyone.
Got this email yesterday from Substack. I am so grateful you all read this letter every day (or most days). I want to write more about what this experience has been like for me, but I think I’ll dedicate a whole letter to it for my one-year anniversary, which is around the corner. The biggest thing I can say to people who are considering doing a letter like this — daily, controversial at times, pretty personal — is that you have to be vigilant about what you’re building. I don’t have a relationship with the term “work-life balance” and frankly, I don’t want to. I answer as many people as I can (if I owe you an email, follow up today!!!). I have in-person meetings when I can. I listen to everyone all the time, everywhere. Commit! I adore you all and love sharing with you every morning.
Some news:
I once tweeted that “Serial entrepreneur is another way of saying none of your shit has worked.” Some of you didn’t like that, but some of you did <3 Today, Vanity Fair published an interview with former CEO and cofounder of Peloton, John Foley. His latest company, Ernesta, which makes designer-quality custom-cut rugs, launched this year. I’m not saying Peloton didn’t work out but…. their stock is kind of trash. With Peloton, Foley sought to bring boutique fitness to your home via a fancy stationary bike, and now, his goal is to elevate that home with a fancy rug. “I just love spaces, and rugs are a very important part of your space,” Foley tells Vanity Fair. “I feel a ton of pressure for this to be successful. I have to reprove myself and, one, show that the Peloton success when it was happening wasn’t luck; and two, prove to, I guess, the world, that I am a businessman worthy of betting on.” This was a good founder profile (and maybe a lesson to other founders). And now I’m going to let you all in on my rug plug: Turkish Rug Empire.
Next summer is going to be all about East Quogue. I had a feeling this would be the case when I found out a very chic managing director of a very big New York hedge fun bought a house there last year. Seafood restaurant Dockers sold stake in their waterfront property to a development company who specializes in apartment building and condos. The slow creep of the Hamptons westward makes me laugh (but the Times published a nice, albeit chilly, guide to the North Fork this morning.)