Issue 001: GTA V Turns 11

It’s been over a decade since GTA V took the world by storm, and its impact on pop culture and the gaming industry is still felt today. From unforgettable characters to the financial success of GTA Online, Rockstar Games has set the bar high.

Author

Bruce Hamilton
September 20, 2024

Welcome to the first issue of the Everybody newsletter. Think of this as a digital magazine covering topics and news in the world of pop culture, consumer, and technology. Today’s main topic is the 11th anniversary of Grand Theft Auto V’s release and it’s long-lasting effect on pop culture.

Theme parks are no longer the summer destination

Faced with high inflation and rising costs, many consumers are skipping a summer staple: theme park visits. As household budgets tighten, theme parks are seeing fewer visitors and declining financial results.

Why it matters: These drops in earnings signal that consumers are feeling the financial pinch and are looking for more affordable or meaningful alternatives. According to Len Testa, president of Touring Plans, theme parks are also failing to do the one thing that reliably attracts visitors—building new rides. Without fresh attractions, even major players like Disney and Universal are struggling to bring in crowds.

State of play: Disney, Universal, and Six Flags all reported lower earnings in the second quarter of this year. While Disney’s theme park revenue ticked up by 2%, its overall operating profit dropped 3%. Universal saw a 10.6% revenue drop, while Six Flags reported a 2% decline in guest attendance.

Testa’s data shows shorter wait times at Disney and Universal parks, indicating fewer visitors despite steady ticket prices. The average cost of a one-week U.S. vacation is close to $2,000 per person, and for families, a Disney World trip can quickly soar into several thousand dollars. At those price points, travelers are increasingly comparing theme park vacations to cruises or even international travel, which offer potentially more memorable experiences.

The big picture: Economic pressures like rising mortgages and everyday expenses are making vacations a luxury many can’t afford. Theme park costs have surged—since 2014, the price of an adult ticket has risen 32%, and Disney vacation expenses for a family of four have increased by nearly $1,000 since 2019. Once-free perks, like the shuttle from the Orlando airport to Disney hotels, now come with added fees, contributing to higher overall costs.

Bottom line: As travelers weigh their options, the allure of theme parks may be fading. With more affordable alternatives and unique global experiences available, many families are opting out of the artificial pleasures of theme parks in favor of potentially life-changing travel opportunities.

Nike CEO John Donahoe steps down

Nike has announced a significant leadership change as CEO John Donahoe prepares to step down, with company veteran Elliott Hill returning to lead the global sportswear giant. Donahoe, who has been at the helm since January 2020, will retire on October 13, 2024, while Hill takes over the following day. Donahoe will remain as an advisor until January 2025.

The transition comes during a challenging time for Nike. The company’s stock has dropped over 25% this year, though it saw an 8% boost following the CEO announcement. Nike has faced struggles with declining sales, particularly in China, and criticism for losing its innovative edge as it pivoted to a direct-to-consumer model.

Hill, a well-respected figure within the company, worked at Nike for over three decades before retiring in 2020. Known for his leadership in the company’s consumer and marketplace division, Hill is seen as the right person to refocus the brand’s culture and reenergize innovation.

Nike co-founder Phil Knight and Executive Chairman Mark Parker expressed strong confidence in Hill’s ability to lead the company through its next phase of growth, particularly as it seeks to regain market dominance and reconnect with consumers.

This leadership change underscores Nike’s effort to course-correct, aiming to balance its direct-selling strategy with renewed attention to product innovation and partnerships.

Amazon might signal the end of the remote work era

Amazon recently announced a bold shift in its remote work policy, demanding that employees return to the office five days a week. This move, which follows in the footsteps of other corporate giants like Google and Apple, signals a growing trend among major companies to pull back on the flexibility afforded during the pandemic. Amazon’s leadership argues that in-person collaboration fosters innovation, speeds up decision-making, and strengthens company culture—elements they believe are vital for continued growth and success.

However, this decision raises questions about the future of remote work, particularly as many workers have embraced the flexibility, work-life balance, and increased productivity that come with working from home. Amazon’s stance may embolden other companies to follow suit, signaling a shift away from the remote work revolution that has reshaped corporate life in recent years.

For employees, this mandate presents a dilemma: accept a return to the traditional office setting or seek out more flexible opportunities elsewhere. Amazon’s decision may create a ripple effect in the job market, as workers reconsider their priorities and the talent war intensifies. As the debate over remote work continues, it’s clear that the future of work remains uncertain, with companies and employees navigating a delicate balance between flexibility and the perceived benefits of in-person collaboration.

The return-to-office push from one of the world’s largest employers may ultimately shape workplace norms, but the demand for flexibility from workers suggests that remote work isn’t going away without a fight.

11 Years of Grand Theft Auto V: A Pop Culture Phenomenon Still Rewriting the Rules

It’s been 11 years since the launch of Grand Theft Auto V on September 17, 2013, and few video games have left as indelible a mark on pop culture as this one. Over the past decade, GTA V has transcended the boundaries of gaming, cementing itself as a cultural juggernaut, financial powerhouse, and testament to Rockstar Games’ enduring innovation. As we reflect on its legacy, it’s worth considering how GTA V set the stage for the future of open-world games, entertainment, and even business models in gaming.

Redefining Pop Culture

When Grand Theft Auto V first hit shelves, it quickly became more than just a video game; it was an event. Its narrative—spanning the chaotic lives of Michael, Franklin, and Trevor in the fictional city of Los Santos—captured the zeitgeist, blending satire with gripping storytelling. But what really elevated GTA V to iconic status was its sprawling, open-world design that invited players to explore, experiment, and wreak havoc in an environment that felt almost too real.

Rockstar mastered the art of storytelling and world-building, but what made GTA V a cultural cornerstone was its ability to cross into other media. Whether through viral YouTube videos, Twitch streams, or even in conversations about the ethical boundaries of video games, GTA V became a part of the broader cultural conversation. It helped redefine what we expect from video games—not just in terms of graphics and gameplay mechanics but as fully realized pieces of interactive art.

The Financial Engine: Grand Theft Auto Online

While GTA V’s campaign is legendary, it’s Grand Theft Auto Online that has kept the game relevant for more than a decade. GTA Online isn’t just a multiplayer mode—it’s a virtual playground that allows players to live out their wildest fantasies, from running underground criminal empires to hosting elaborate heists with friends. It’s essentially a second game within the game.

This mode has been a financial windfall for Rockstar Games. Reports estimate that GTA Online has generated billions in revenue over the years, mainly through microtransactions, where players can purchase in-game currency to enhance their experience. The consistent flow of new content—from new missions to cars and weapons—has kept players engaged and spending.

The numbers are staggering. Rockstar has made hundreds of millions annually from GTA Online alone, which is a testament to the changing nature of game development. Recent reports have estimated GTA Online generates between $9 - $10 million daily. Whereas most games see revenue taper off after a few years, GTA V and GTA Online have maintained a steady, lucrative stream for over a decade. This “games-as-a-service” model has become the blueprint for modern gaming, influencing countless titles across the industry.

The Game That Keeps on Giving: Remastered for a New Generation

Part of GTA V’s longevity can also be attributed to its ability to evolve with the times. Initially released on PlayStation 3 and Xbox 360, it was remastered for the PlayStation 4 and Xbox One in 2014, and then again for the PlayStation 5 and Xbox Series X/S in 2021. Each remaster brought improvements in graphics, loading times, and gameplay mechanics, ensuring that it stayed fresh for both longtime fans and newcomers.

These remasters weren’t just cash grabs; they were opportunities for Rockstar to continue refining a product that had already set the bar high. By keeping GTA V relevant across three generations of consoles, Rockstar demonstrated that they understand the importance of keeping their flagship product aligned with modern technological standards. With each new iteration, the game pushed the envelope further, reaffirming Rockstar’s place at the pinnacle of the gaming world.

What to Expect from Grand Theft Auto VI

As GTA V celebrates its 11th anniversary, the gaming world is eagerly anticipating what’s next: Grand Theft Auto VI. Although Rockstar has been tight-lipped about the release date, it’s worth noting the pattern. Rockstar tends to take its time with its major titles—GTA V followed GTA IV after a five-year gap, and now it’s been over a decade since the last installment.

The anticipation around GTA VI is palpable, and with good reason. Rockstar has a reputation for revolutionizing the gaming landscape with each release, and fans expect nothing less from the upcoming title. If GTA V was any indication, the next game will be an even more immersive experience, potentially raising the bar for open-world games once again.

GTA VI is expected to release in Q4 2025. Given the sheer scale of their games and the meticulous attention to detail, the development process is understandably lengthy. And while we wait, GTA Online continues to generate revenue, which probably eases the pressure for a quick release. A release window of late 2025 - early 2026 might be a more realistic expectation given a recent rumor of a potential delay. especially if Rockstar is aiming for the same kind of technological leap they achieved between GTA IV and GTA V.

A Legacy That Will Last

As we celebrate 11 years of Grand Theft Auto V, it’s clear that the game’s impact extends far beyond the realm of gaming. It has become a cultural touchstone, a financial juggernaut, and a technological marvel, setting the stage for a new era of interactive entertainment. Whether you’re a longtime fan or someone who just got into it via a remaster, it’s impossible to deny the influence GTA V has had on both pop culture and the video game industry at large.

As we look ahead to GTA VI, the legacy of GTA V serves as a reminder of what makes Rockstar Games unique: the ability to not only meet expectations but to exceed them, time and time again.

What are your favorite memories of Grand Theft Auto V? Are you looking forward to GTA VI?

Curated Vibes

Song of the week: “Let’s Go Back” by Jungle
Apple Music
Spotify

Movie of the week: Marcel the Shell with Shoes On

LA Tech Week

We’re hosting two events during LA Tech Week this year and would love for you to join us if you’re available. It’s a great opportunity to connect with tech community in Los Angeles.

Mario Kart Invitational
Date: October 17, 2024
Location: AMC Santa Monica 7
Description: We’re renting out a movie theatre to create an immersive experience for our inaugural Mario Kart Invitational. Expect a fun and competitive atmosphere with some of the best in tech.
RSVP

Sunset Mixer
Date: October 16, 2024
Location: Hotel Erwin
Description: Enjoy drinks and food on a rooftop by the Venice beach during the sunset while you network with fellow founders and investors.
RSVP

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