In today’s newsletter I reminisce on how nostalgic trends from the ‘90s & early 2000s are back, MrBeast is creating his own vision of a Disney empire, OpenAI is in talks to acquire the AI coding assistant startup Windsurf, people are adopting simpler “dumb phones” as an antidote to “brain rot” from smartphones, Elon Musk’s SpaceX along with Palantir and Anduril are working on a proposal to develop President Trump’s “Golden Dome” missile defense shield, and washed up NFL QB Aaron Rodgers says he’s in no rush to decide which unfortunate team signs him for the 2025 season.
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WHAT WE’RE READING
📟 Nostalgic Trends From The ‘90s & Early 2000s Are Back, Baby!
In a twist of the never ending fashion cycle, today’s teenagers are embracing the iconic brands and styles of the late ‘90s and early 2000s. From low-rise jeans, baggy JNCOs, baby tees, eye warping SKIDZ, vibrant tracksuits, and chunky sneakers, the ‘90s and Y2K aesthetic is not just a nostalgic memory for millennials and Gen Z – it’s a fresh and exciting trend for this next generation. This resurgence in style is creating an unexpected common ground between my teens and myself that is going beyond the typical “when I was young” type of stories. We’ve now able to bond about styles that are coming back, and reminisce about movies and trends that are popular again. No if only they could bring back my beloved BlackBerry!
For parents who navigated the fashion landscape of the ’90s, this revival is both exciting and stressful for a second time. The ’90s laid the groundwork for the early 2000s explosion of bold colors, oversized silhouettes, and a general sense of playful experimentation. Now today’s teens are sporting updated versions of these looks. If you can remember the days of dial-up internet and MTV’s TRL, then you might be considered cool by today’s teens (maybe).
Speaking of ’90s nostalgia, I have to mention “The ’92” newsletter, written by Grant Stimmel. It’s unleashed something inside me that has been yearning to break out ever since I had to “grow up” and become a father. Now I’m obsessed! Every new issue is a deep dive back into the ‘90s culture, fashion, and media that made me what I am today. As someone who lived through it, I find myself completely obsessed with the tidal wave of nostalgia that each new issue brings me.
My own ’90s fashion choices were definitely a statement. I vividly recall the massive JNCO jeans I’d sport at raves, the wide legs practically swallowing my shoes as I danced my ass off. Whenever I was skateboarding in the early ‘90s I was always wearing my SKIDZ, which were like sensory overload for your legs. Watching those styles come back and make their way into this generation’s wardrobes is pretty rewarding I’ll admit.
This nostalgic wave has tangible financial implications. According to recent surveys, teen spending is on the rise, with teens spending on average $2,388 in 2025, a 6% increase from the previous year. While a significant portion of this goes towards food (duh) and technology, fashion remains a key area of teen’s limited funds. Brands that were popular in the late ‘90s and early 2000s are seeing a resurgence in popularity among this demographic. Companies like Nike and Adidas, whose influence spanned both the ’90s and the early 2000s, continue to be top choices for teens these days with throwback styles like Adidas shell toe shoes finding a new audience in this generation.
The market for ’90s nostalgia is substantial, with the global nostalgia economy valued at over $350 billion dollars, and is expected to reach $500 billion by 2030. A significant portion of this is driven by ’90s nostalgia, with 42% of U.S. adults purchasing something just because it’s ’90s inspired. This trend is particularly strong among Gen Z, with 37% feeling nostalgic for the ’90s, even though they weren’t even born by then!
The influence of social media is undeniable in driving these trends. Platforms like TikTok and Instagram amplify these throwback aesthetics, with influencers showcasing modern interpretations of Y2K fashion statements. This has created a cyclical effect, where teens discover and embrace these older styles, often putting their own unique spin on them. This blend of nostalgia and contemporary flair is what makes this trend so dynamic and appealing to a new generation, and it’s what makes me get all choked up and nostalgic for the past!
This revival of early 2000s brands and ’90s-inspired fashion is more than just a fleeting trend….I hope! It feels like it’s a cultural phenomenon that could foster connections between generations. In my experience, as today’s teens explore the styles of the past they’re talking more with people from my generation, and more communication across generations can’t be a bad thing.
Who knew baggy jeans could be such a powerful tool for family bonding?!?!
🤖 Business
OpenAI is in talks to acquire the AI coding assistant startup Windsurf, formerly known as Codeium, for as much as $3 billion dollars. This acquisition would be OpenAI’s largest yet. Windsurf has raised $243 million dollars in funding, and brought in around $40 million dollars in ARR. The software offers tools that aim to significantly increase developer productivity.
There’s literally not been a week in the last year where OpenAI hasn’t fired someone, partnered with another big company, acquired a well funded startup, or signed an agreement with a foreign country.
Instead of a subscription to ChatGPT, I’d be willing to pay a monthly fee just to not have to hear or read the words OpenAI.
🍫 Entertainment
MrBeast, the visionary creator who’s only called Jimmy Donaldson by complete strangers, is once again aiming high with his new goal of building the next generation’s version of Disney. He’s positioning his company, Beast Industries, as a media venture that will parley his massively popular YouTube channels, Amazon Prime show “Beast Games”, chocolate company Feastables, and his MrBeast Burger ghost kitchens into a spring board for creating his own intellectual property (IP) that they can use to build new brands under his umbrella.
But creating content isn’t cheap, and his losses have been mounting up. Between his YouTube channel empire, and his Amazon Prime show “Beast Games”, MrBeast generated $246 million dollars in sales in 2024, but it resulted in $80 million dollars in losses. Luckily his chocolate company, Feastables, has proven to be a cash cow generating $251 million dollars in sales and a $20 million dollar profit in 2024, and is projected to nearly double that by bringing in $520 million dollars in sales in 2025.
After securing $300 million in funding and achieving a valuation north of $5 billion dollars, Beast Industries is working on leveraging both engaging media and successful consumer products to create an influential and multifaceted entertainment empire for the next generation.
📞 Tech
Can ditching our sophisticated smartphones for simpler “dumb phones” be the antidote to “brain rot”, otherwise known to the cool kids as the erosion of deep thinking from constant digital engagement?
A startup behind the Light Phone III is called Light, and was founded by Joe Hollier and Kaiwei Tang who designed the $600 Light Phone III the company’s headquarters in Brooklyn, NY, but the phone is assembled by Foxconn near Shenzhen, China.
The phone was actually “designed to be used as little as possible” according to the phone’s creators, which is obviously a foreign concept to today’s teens and frankly most adults. The phone’s minimalist alternative focused on core functions like calls and texts.
Why would anyone purposely want a dumbed down phone?
There’s actually been a 40% rise in dumb phone purchases driven by people’s desires for a digital detox.
The very existence of a market for dumbed down phones really makes you question where the human species is headed.
🚀 Space
Elon Musk’s SpaceX, in a partnership with his pals from the PayPal mafia including Palantir and Anduril, is working on a proposal to develop President Trump’s “Golden Dome” missile defense shield. This ambitious project aims to create a space-based system for detecting and tracking missile threats.
SpaceX would handle building, launching, and deploying a constellation of hundreds of satellites that could cost between $6 billion and $10 billion for the initial design and engineering. Palantir would contribute the software infrastructure necessary to process and analyze the vast amounts of data collected by the satellite network. Anduril would contribute its expertise in developing advanced defense systems including aspects of the system related to autonomous systems and sensor fusion, as well as potentially the defensive munitions to shoot down incoming missiles.
The “Golden Dome” project could come in at an estimated $1 trillion dollars in total. Maybe that’s why DOGE is slashing budgets and laying off federal employees to save the government some money, so Elon Musk’s company SpaceX can win a $1 trillion dollar defence contract. Sure does pay to be a billionaire who has Donald Trump on speed dial.
🏈 Sports
Having earned an impressive estimated $380 million throughout his remarkable NFL journey with the Green Bay Packers and New York Jets, quarterback Aaron Rodgers offered the Pittsburgh Steelers a refreshingly direct perspective on his future – he’s in no rush to make a decision anytime soon.
Aaron Rodgers met with the Pittsburgh Steelers back in March, and had only positive things to say after talking with Coach Mike Tomlin, but he was clear that if any team he’s currently talking to feels the need to move on before he makes a decision he’s fine with that.
Sounds like Aaron Rodgers has one foot in retirement and he’s looking for a powerful sign from the football gods to convince him to stick around for a 20th season in the NFL.
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irl Media NEWSLETTER is written, edited, and published by Chris Thompson.