China Is Pressing Women to Have More Babies. Many Are Saying No.

Chinese women have had it. Their response to Beijing’s demands for more children? No.

Fed up with government harassment and wary of the sacrifices of child-rearing, many young women are putting themselves ahead of what Beijing and their families want. Their refusal has set off a crisis for the Communist Party, which desperately needs more babies to rejuvenate China’s aging population.

With the number of babies in free fall—fewer than 10 million were born in 2022, compared with around 16 million in 2012—China is headed toward a demographic collapse. China’s population, now around 1.4 billion, is likely to drop to just around half a billion by 2100, according to some projections. Women are taking the blame.

In October, Chinese Leader Xi Jinping urged the state-backed All-China Women’s Federation to “prevent and resolve risks in the women’s field,” according to an official account of the speech.

“It’s clear that he was not talking about risks faced by women but considering women as a major threat to social stability,” said Clyde Yicheng Wang, an assistant professor of politics at Washington and Lee University who studies Chinese government propaganda.

The State Council, China’s top government body, didn’t respond to questions about Beijing’s population policies.

Party lectures on “family values” are having little effect, even in rural parts of China.

Outside a mall in Quanjiao, a county in Anhui province, He Yanjing, a mother of two, said she has gotten several calls from community officials to encourage her to have a third child. She has no such plans. The preschool her son attended cut the number of classrooms in half because there aren’t enough children to fill them, she said.

Her friend, Feng Chenchen, the mother of a 3-year-old girl, said relatives are pressuring her to have more children, hoping she has a baby boy.

“Having had one child, I think I’ve done my duty,” Feng said. A second child, she said, would be too expensive. She said she tells relatives, “I can have another kid as long as you give me 300,000 yuan,” around $41,000.

Many young people in China, disheartened by a weak economy and high unemployment, seek alternatives to their parents’ lives. Many women view the prescribed formula of marriage and children as a raw deal.

Molly Chen, 28 years old, said the demands of caring for ageing relatives and her job as an exhibition designer in Shenzhen leave no room for kids or a husband. All she wants to do in her free moments is read or scroll through pet videos.

Chen followed the story of Su Min, a retiree who video-blogged about her solo road trip around China to escape a bad marriage. Chen said that the story, as well as online videos that women post about their lives, have deepened her impression that many men choose wives mostly as caretakers—for children, husbands and both sets of ageing parents.

She lamented that she doesn’t have time even for a pet. “I can’t afford to take care of anything else outside of my parents and work,” Chen said.

Shrinkage

When Beijing said it would abolish its 35-year-old one-child policy in 2015, officials expected a baby boom. Instead, they got a baby bust.

New maternity wards were built only to close a few years later. Sales of baby-care products, including formula and diapers, have dropped. Businesses that focused on babies now target seniors.

New preschools built to make child-rearing more affordable struggle to fill classrooms and many have closed. In 2022, the number of preschools in China fell 2%, the first decline in 15 years.

Demographers and researchers predict that data will show Chinese births dipping below 9 million in 2023. The United Nations forecasts 23 million births in India, which in 2023 passed China as the world’s most populous country. The U.S. will have around 3.7 million babies born in 2023, the U.N. estimated.

The one-child policy brought much of China’s demographic gloom: There are fewer young people than in the past, including millions fewer women of childbearing age every year. Those women are increasingly reluctant to marry and have children, accelerating the population decline.

In China, 6.8 million couples registered marriages in 2022, compared with 13 million in 2013. The country’s total fertility rate in 2022—the average number of babies a woman has in her lifetime—is approaching one birth per woman, or 1.09. In 2020, it was 1.30, well below the 2.1 needed to keep a population stable.

The campaign for a “birth-friendly culture” has taken on the tone of an urgent national mission, with government-organised matchmaking events and a program encouraging military families to have more babies.

“Soldiers win battles. When it comes to giving birth to second or third children and implementing the national fertility policy, we are also taking the lead and charging to the front,” Zeng Jian, a top obstetrician-gynaecologist at a military hospital in Tianjin, told state media in 2022.

In August, residents of the western city of Xi’an said they received an automated greeting from a government number during the Qixi Festival, the Chinese equivalent of Valentine’s Day: “Wishing you sweet love and marriage at an appropriate age. Let’s extend the Chinese bloodline.”

The message drew a backlash on social media. “My mother-in-law doesn’t even push me to have a second child,” one person wrote. “I guess next, arranged marriages will come back,” another commented.

Beijing leans more to encouragement than the kind of coercion that marked the one-child policy. Local governments offer cash incentives for couples having a second or third child. A county in Zhejiang province gives a $137 cash bonus to every couple getting married before age 25.

In 2021, the city of Luanzhou asked unmarried people to sign up for a government-sponsored dating initiative that uses big data to find matches citywide. A district in the city of Handan provides a one-stop wedding-planning service.

Hide and seek

The shift means some women have gone from trying to dodge punishment for having too many children to being hounded to have more.

A decade ago, a woman surnamed Zhang was in a cat-and-mouse game with authorities after she decided to have a second child. She asked that her first name not be used.

While pregnant, she left her job to stay out of public view, fearful officials would pressure her to have an abortion, she said. After giving birth, in 2014, she stayed with relatives for a year. When she returned home, local family-planning officials fined her and her husband around $10,000. She said she was forced to have an intrauterine device implanted to prevent pregnancy. Authorities required her to have it checked every three months.

Months later, the Chinese government announced the one-child policy would be scrapped. For a while, authorities still demanded Zhang have her IUD checked.

She now gets text messages from officials encouraging her to have more children. She deletes them in anger. “I wish they would stop tossing us around,” she said, “and leave us ordinary people alone.”

There has been a tightening of licenses for clinics offering medical procedures to block pregnancies. In 1991, the height of the one-child policy, 6 million tubal ligations and 2 million vasectomies were performed. In 2020, there were 190,000 tubal ligations and 2,600 vasectomies.

On social media, people complain that getting a vasectomy appointment is as difficult as winning the lottery.

Officials have also tried to dial back abortions, a key tool for officials during the one-child policy. They have fallen by more than a third—from more than 14 million in 1991 to just under 9 million in 2020. China has since stopped releasing data on vasectomies, tubal ligations and abortions.

Pressurised populace

Wang Feng, a sociology professor at the University of California, Irvine, said there have been two conflicting shifts in Chinese society: a rising awareness of women’s rights and increasingly patriarchal policies.

For the first time in a quarter-century, no women are among the top two dozen officials on the Politburo. Since Xi took power in 2012, China has fallen 38 places in the World Economic Forum’s Global Gender Gap Report to No. 107 in the 2023 ranking of 146 nations.

In the Mao era, the party promised to end Confucian traditions that discriminated against women. Xi has instead stressed Confucian values, including the filial duty to have children. Families also pressure women into traditional roles.

Sophy Ouyang, 40, has known since middle school she didn’t want to marry and have children. Ouyang studied computer science, one of the few women in her village to pursue advanced schooling, and works as a software engineer in Canada.

Ouyang said that throughout her 20s, her family leaned on her to marry. Her mother said that if she had known Ouyang wouldn’t have children, she would have stopped her from getting a higher education.

Ouyang cut off contact with her family more than a decade ago. She has blocked her parents, aunts and uncles on social-media apps. “If I’m a bit more gentle with them,” she said, “they will take advantage.”

The Chinese government, which sees feminism as a nefarious ideology backed by foreign forces, has detained women’s-rights activists and erased their social-media accounts in a yearslong crackdown.

Even so, women have become more vocal online about their experiences relating to relationships, families and work. Their posts show a personal form of feminism that is harder for authorities to police.

Simona Dai, 31, started a podcast entitled “Oh! Mama” about birth and marriage after she learned that her mother had an abortion when she was eight-and-a-half months pregnant with a girl in the early 1990s.

Dai got married when she was 26 and said she had to endure her husband’s chauvinistic views, especially during the pandemic, when they argued about household chores. She became adamant about not having children, despite pressure from the couple’s families.

She has since applied to end her marriage. “If I didn’t divorce, I might have to have a baby,” she said.

A national debate over the treatment of women erupted in early 2022, when the video of a woman—a mother of eight, kept in a shed with a chain around her neck—sparked a social-media storm. The woman’s plight resonated with Chinese women who saw a connection to their own roles.

In recent years, Beijing has raised its guard against similar instances of social-media outrage.

A woman who worked at a branch of the All-China Women’s Federation in Guangzhou from 2020 to 2021 said the branch focused on preventing gender-related topics from going viral. She said it paid more to a tech company to police social-media comments than its budget for women’s advocacy.

During training, she said, employees were warned of serious repercussions if women’s issues in Guangzhou drew unwanted social-media attention. The women’s federation didn’t respond to requests for comment.

China’s cyberspace watchdog, which polices material seen as harmful to Chinese internet users, said in December that it was targeting content “spreading wrong views on marriage.”

Some women who decided years ago against marriage and children consider themselves lucky.

Ouyang, the software engineer in Canada, said, “I feel like I’ve completely dodged a bullet.”

Jonathan Cheng and Grace Zhu contributed to this article.

The Formula to Get More Time Off Using Your Vacation Days

It is barely past New Year’s Day. If you’ve taken the day off, congratulations: You have aced your first test of vacation-day math.

We get only so many days of paid time off a year. And that is if you’re lucky—one in five U.S. private-sector workers gets no PTO, according to the Bureau of Labor Statistics. Without a strategy, you can have a generous number of vacation days and still feel like you never truly got away from it all.

Think of the times you took a mini-break from work only to feel stressed before and afterward. The average American worker with five years at the company gets 15 paid days of vacation in a year, BLS data show. That leaves little room for bad planning if you want a serious break or two, plus some long weekends and the occasional personal day.

Maxim No. 1: A vacation day equals more than a day of vacation when you attach it to a public holiday or two. Taking the day after New Year’s this year snags you a four-day weekend at the start of 2024. Timed just right between federal holidays and weekends, 15 days of PTO can turn into nearly 50 days of extended break time this year. (That is, if your co-workers don’t beat you to claiming those dates.)

Another guiding principle—Fridays off are overrated, and not just because they are peak traveling days. For a long weekend or a random personal day, there is evidence to suggest a Monday and Wednesday can be more satisfying. But more on that later.

A weeklong vacation vs. long weekends

First, some science: To really recharge, you need at least one weeklong vacation, bracketed between two weekends, research suggests.

In one study of more than 50 people who took vacations for an average two weeks, participants’ well-being levels didn’t peak until their eighth day off. A 2023 study of more than 300 vacationers found people who took between eight and 14 days off reported greater and longer positive effects once they returned to work, such as better sleep, than those who took shorter breaks.

One to two weeks off, in fact, appeared to have longer-lasting benefits than lengthier vacations. After a while, “you creep back to old habits,” says Ty Ferguson, a research associate at the University of South Australia in Adelaide who co-wrote the study. His own recent getaway—several days down the coast—went bust when his three children, ages five and under, came down with a bug. Then it was time to return.

“I should take more of my own advice,” he says.

One reason taking a week-plus vacation is important is that is enough time to actually reduce workloads. Network-equipment giant Cisco recently conducted a deep data dive on employees’ work habits and well-being, examining more than three years’ of metrics such as virtual meetings, badge-ins, PTO and engagement surveys. When workers took a day or two off, the number of meetings they had in the month didn’t change much—they just packed in more work before and after their time off.

Meeting loads dropped sharply for workers who took at least five consecutive days off. The fewer the meetings, the greater tendency to report healthier routines and better stress-coping abilities, Cisco found.

“I always believed in the long weekend because it can be so hard to take a week off,” says Cisco’s chief people officer, Kelly Jones. “I was wrong.”

Maximising public holidays

To get the most out of your finite days off, consider Gail Martino’s PTO hack for 2024. “I’m a leisure laggard,” says the senior project manager in New Haven, Conn., of her habit of waiting to take vacation time until things get slower. (Hint: That is never.) Then there is a scramble to use it or lose it toward the end of the year, with the days she does take off feeling not terribly satisfying.

“You wonder, why am I so tired?” she says.

In recent years, she’s become a bird watcher and wants to take a couple of birding trips along the Eastern Seaboard in 2024. “I spend a week in the woods, among trees and nature, and that is an incredible break,” she says. “Now I want to chart out the entire year.”

Scanning the 2024 calendar, she devised a spreadsheet of dates bridging public holidays and weekends with a theoretical 15 vacation days and four personal days. (Working at Unilever for 18 years, she got about a week more PTO than that in 2023.) The result was 50 days of extended breaks, including 9-day stretches in July and over Christmas:

A little tweaking can wring nearly the same number of extended break days with just 15 vacation days and no personal days—that is, if you get a full slate of federal holidays off and don’t have to trade off with co-workers:

The case for Mondays and Wednesdays off

Want to take a three-day weekend that isn’t attached to a federal holiday? Take Monday off instead of Friday, suggests Jim Burch, a 38-year-old software engineer in Phoenix and an avid hiker. Taking Fridays off often results in cramming five days of work into four, he points out.

“I’d get so stressed out on the Thursday before,” says Burch, who at his current job, has more autonomy over his schedule than in earlier jobs.

Delaying gratification until Monday means your co-workers have no choice but to start the workweek without you. Back Tuesday, you can quickly catch up on whatever emails or developments you missed, he says.

Then there is the unexpected pleasure of a Wednesday off. “It is like a midweek weekend,” says Rachel Blenkhorn, a social-media production manager for a real-estate investment trust who lives in Warren, Mich. It is long enough to relax or take care of appointments yet short enough to get back in the work groove on Thursday, she says.

There is science as to why, says Dawna Ballard, a professor at the University of Texas at Austin and an expert in chronemics, the study of time as it relates to communication.

“Everyone has a different chronotype,” or their own biologically driven pace, she says. A break after two days’ work gives you a second chance in the week to return to your internal rhythm. Psychologically, it also creates a bit of “slack” in the workweek, alleviating the stress that comes from feeling like there is too little time to get everything done.

However you plot your vacation days in 2024, don’t leave any on the table. They aren’t just good for you, there is evidence they are good for your career.

An Ernst & Young study of its employees showed every extra 10 hours of vacation was linked to an 8% improvement in year-end performance reviews. Another study found people who took more than 10 vacation days a year were more likely to get a raise or bonus than those who took fewer days.

Now that is a formula anyone can get behind.

Covid Slashed Consumer Choices. This Is Why They Aren’t Coming Back.

The furniture retailer Malouf sells beds and bedding in a fraction of the colours it did a few years ago. Newell Brands, the Sharpie maker, has retired 50 types of Yankee Candle. Coca-Cola offers half as many drinks.

Covid slashed consumer choices as companies pared their offerings to ease clogs in the supply chain. The logistical mess is behind them. But many of the choices aren’t coming back.

Retailers and suppliers across industries—from groceries to health, beauty and furniture—have said that it didn’t pay to offer products for everyone, and consumers didn’t care that much when they stopped.

“Today, people would rather lose a portion of consumer demand as opposed to spending extra on too much variety,” said Inna Kuznetsova, chief executive officer of ToolsGroup, a supply-chain planning and optimisation company.

Macy’s president and CEO-elect, Tony Spring, told analysts in November that “the customer today does not want an endless aisle.”

New items made up about 2% of products in stores in 2023 across categories such as beauty, footwear and toys, down from 5% of items in 2019, according to the market-research firm Circana. Shelf Engine, a technology company that automates ordering for grocery retailers, said large grocery stores have reduced fresh-food offerings such as fruit, dairy products and deli meats by 15% to 20%.

Large grocers cutting back on choice is a reversal from pre pandemic days, when they believed they had to carry everything to avoid losing customers to the store across the street, said Stefan Kalb, CEO of Shelf Engine.

Kalb said that grocers are now saving money because they have fewer items to manage and that the slimming of product options is reducing food waste.

Executives at consumer-product companies said the thinning of their product lines has been a relief for those struggling to improve profitability in the midst of higher interest rates and rising costs for raw materials and labor. They said many of the reductions have been in lines that consumers wouldn’t notice, such as items in special packaging and assortments for specific big-box retailers. The cutbacks are also to product lines that drown consumers in options.

“I don’t think any consumer would have noticed we went from 200 to 150” types of Yankee Candle, said Chris Peterson, chief executive of Newell Brands.

Some industry specialists said the new focus on bestselling items has reduced innovation and hurt smaller brands that rely on retailers’ desire to carry something for everyone.

“There has definitely been less innovation since the pandemic,” said Seth Goldman, a founder of the organic-beverage maker Honest Tea, which was bought by Coca-Cola in 2011 and discontinued in 2022.

Coca-Cola over the past few years reduced its brands to 200 from 400, cutting slow-growing as well as declining products, including small regional lines such as Northern Neck Ginger Ale and national brands such as its first diet cola, Tab.

“It was pruning the garden to let the better plants grow,” Coca-Cola Chief Executive James Quincey said in 2022.

Goldman said there was still demand for Honest Tea, even if it wasn’t big enough for Coca-Cola. In September 2022, four months after Coca-Cola’s announcement, he launched Just Ice Tea, a drink that he said is similar to Honest Tea and that is expected to have sales in 2023 of more than $16 million.

Companies began winnowing product lines in the years leading up to the pandemic as a corrective to previous decades when consumer choice ballooned. That was partly because of the internet, where online retailers weren’t constrained by the space limitations of physical stores, giving rise to the term “endless aisle.”

The cuts were turbocharged in 2020 and 2021, when product shortages and a surge in consumer spending led companies to give priority to the most in-demand items. They focused on products that ran fastest on production lines and, because of social distancing in factories, could be made with automated machinery.

Kimberly-Clark cut more than 70% of its toilet paper and facial-tissue products over a single weekend in 2020 as it rushed to satisfy a fourfold increase in demand, said Tamera Fenske, the company’s chief supply chain officer.

Fenske said the company jettisoned slow-selling items as well as many of the special counts and custom sizes it made for individual retailers. Fenske said that, as pandemic restrictions eased, Kimberly-Clark was able to be more thoughtful about the items it brought back. She said the company carries about 30% fewer product lines in North America than it had at the start of 2020.

PVH, which owns Tommy Hilfiger and Calvin Klein, embarked in 2020 on a plan to cut more than a fifth of its offerings to focus on what it calls “hero” products—those that make up an essential part of someone’s wardrobe.

Kimberly-Clark, maker of Scott paper towels, has brought back some, but not all, of the products it stopped offering during the pandemic. PHOTO: KRISTEN NORMAN FOR THE WALL STREET JOURNAL

Some companies said the culling of less-popular products opened up space for new lines.

Georgia-Pacific stopped selling 164-sheet rolls of Quilted Northern toilet paper because its larger rolls were better for consumers who valued longer-lasting rolls, said Kim Burns, senior vice president of supply chain for Georgia-Pacific’s consumer products group. Burns said the company has subsequently invested more time and money in new product lines, such as toilet paper with a scented tube that acts as a bathroom air freshener.

For other companies, the supply-chain shock provided a real-life experiment in how trimming product lines could improve productivity without hurting customer satisfaction. “It was quite shocking as we parsed it out to see we were using a lot of our buying power to really not get much of a return on investment,” said Nick Jensen, vice president of product at Malouf.

The Logan, Utah-based furniture company has reduced its lines to about 3,500 product choices, down from almost 11,000 items before the pandemic. Jensen said the company is adding new items more carefully these days.

“If we have 15 different colours and three shades of grey, it’s a paralysing choice,” Jensen said. “It’s kind of forced us to be much more intentional versus throwing a lot of things at the wall and hoping that they stick.”

—Suzanne Kapner contributed to this article.

Tech That Will Change Your Life in 2024

It’s been a crazy year in tech:

• Artificial intelligence infiltrated everything.

• Elon Musk and Mark Zuckerberg agreed to a cage fight (which never happened).

• High-schoolers made pornographic clones of their classmates.

• A high-profile tech CEO was fired and rehired over a weekend.

• Oh, and Apple unveiled its least-mainstream product since the G4 Cube.

We could go on, but we’re here to look forward. That’s the best part about this annual exercise, where we all pile into an electric time-travel vehicle and set the Google Maps destination to The Future.

So what can we predict for 2024? AI as far as the…A-eye can see. We won’t even pretend to know all the things generative AI will do to our devices, our jobs, our lives—and our elections. But we promise you won’t be able to escape it. We’ll see other things too: the decline of the dreaded password, a boom in cleaner energy, increasing regulation around kids on social media, and more.

And yes, Apple will start selling a $3,500 face computer that aims to change how we see the world, or at least our living rooms.

Here are our predictions for the coming year in tech.

Is it real?

When photos of a bull walking on train tracks in New Jersey recently went viral, many people’s first thought was, “Did AI make this?” No, the photo was the real deal. (Don’t worry, the bull is safe now.)

This is the internet challenge of 2024: How do we tell the real from the AI? The generative-AI product flood will continue, but also expect more tools to help us pinpoint artificially generated text, photos, video and audio.

OpenAI, specifically, has promised a feature that will identify whether an image is created by its Dall-E 3 image generator. TikTok has said it is working on ways to detect and automatically label AI-generated content.

The Adobe-led Content Authenticity Initiative, which provides technology to embed information about the origin of an image or video into the file, will also continue to gain steam. Microsoft has said it will launch a tool for political candidates and campaigns that allows them to add credentials to media so people will know how it was created or edited. Camera maker Leica recently announced a new camera that automatically embeds such credentials in its photos.

At some point, we might just regard content without credentials as suspicious.

EVs struggle to accelerate

If you’re expecting 2024 to be the Year of the EV Boom, think again. “It’s not that EV sales are down, it’s that the pace of growth is slowing down,” said Barclays analyst Dan Levy.

That deceleration looks to continue but it marks a turning point: More mainstream car buyers are now catching their breath and beginning to assess their EV options. Two of the biggest consumer pain points—price and charging—will start to improve. Especially for people looking beyond Tesla.

Sometime in 2024, Ford, General Motors, Rivian and others will be able to charge at many of Tesla’s charging sites. That should significantly increase the number of places EV drivers can stop to charge on a long road trip. Additionally, we’ll see the launch of more fast-charging stations funded through the Biden administration’s National Electric Vehicle Infrastructure program. Here’s hoping they work—and actually accept credit cards.

Starting Jan. 1, if you’re buying an EV that’s eligible for a federal tax credit you can get that discount at the point of sale. You will no longer have to wait until you file your taxes. The bad news: Fewer EVs will qualify for the credit. But at least there are some sub-$40,000 EVs on the way, including the Chevy Equinox EV and Volvo EX30.

The clean-tech boom begins

Electric vehicles may seem like the embodiment of so-called “clean tech”—driven in no small part by a certain eccentric billionaire and his car company. But the EV supply chain is enabling hardware companies of all kinds to make use of really big batteries, and the critical “power electronics” that go with them.

For example, in Vermont, the biggest regional utility is turning batteries into a distributed energy-storage network it calls a “virtual power plant.” In-home batteries can recharge from the grid when energy is plentiful, and put it back into the grid when demand shoots up or there are outages, increasing reliability and saving customers money. Even electric vehicles can help in a similar way: Ford says its electric F-150 can power your home in a blackout.

And the relentless rollout of new sources of low-carbon and renewable energy is proceeding apace, including offshore wind, rooftop solar and geothermal power from the earth’s own heat. Startups—backed by big money—are looking to develop a generation of smaller, safer modular nuclear reactors, too.

AI + PC = ?

In 2024, every major manufacturer is aiming to give you access to AI on your devices, quickly and easily, even when they’re not connected to the internet, which current technology requires. Welcome to the age of the AI PC. (And, yes, the AI Mac.)

What’s coming is what engineers call “on-device AI.” Like our smartphones, our laptops will gain the ability to do the specialized computing required to perform AI-boosted tasks without connecting to the cloud. They will be able to understand our speech, search and summarize information, even generate images and text, all without the slow and costly round trip to a tech company’s server.

On Dec. 14, Intel announced its entrants into this race, chips with built-in neural-processing units. Qualcomm announced similar chips in late October. Both silicon giants will compete to power Windows laptops and Chromebooks. Look for more announcements of chips to enable on-device AI, possibly from Nvidia and AMD. Apple—which brought variations of its neural-engine-equipped mobile chips to laptops and desktops in 2020—will be making that specialized processing power available to software developers in new ways.

The hardware will show up before the compelling software applications do, but we’ve already seen some promising demos—like fast AI-powered photo-editing tools.

Longer life for older gadgets

Unlike milk and bread, there’s no expiration date printed on our gadgets’ packaging. That doesn’t mean they don’t have them. Modern, internet-connected devices remain tied to their makers after we buy them. And when the makers stop providing services and software updates, they die.

A growing number of manufacturers and brands are extending software support, however. Apple—which updates iPhones for about six years, and Macs for six to eight years depending on the model—was the gold standard, but it has fallen a bit behind Alphabet’s Google. For its new Pixel 8 phones, Google upped support to seven years. The company also said it will provide updates to Chromebooks for up to a decade starting in 2024.

Samsung previously updated phones for just two years, with four years of security patches. It recently committed to four years of system updates, with an additional year of security. Microsoft announced earlier this month that after support for Windows 10 machines ends in 2025, customers can continue receiving security updates for a fee.

By stretching devices’ lifespans, companies could reduce some of the 6.9 million tons of electronics waste we generate annually, according to nonprofit public-interest group U.S. PIRG.

Apple’s mixed reality meets the real world

Will Apple’s Vision Pro change the way we work by putting floating 3-D spreadsheets on our office walls? Will it make us all yearn to FaceTime with holo-grandma? Will it finally make 3-D movies cool? Or, at $3,499, will it be the world’s most expensive paperweight? We find out in early 2024.

In early trials, we’ve been impressed with just how natural it is to navigate the digital interface with just hand waves and finger taps. It still is quite a substantial piece of hardware you have to put on your head, however, battery pack and all.

Given its price tag and its first-generation status, the Vision Pro isn’t positioned to be a mainstream hit. Instead, Apple’s betting on early adopters and software developers to define the killer apps of spatial computing—the idea that we can blend our real lives and digital worlds in new ways. As Apple Chief Executive Tim Cook said during the Vision Pro’s introduction, it’s “the beginning of a journey.”

Cracks in Apple’s garden walls

Perhaps the president of the European Commission should just move her office to Cupertino, Calif. In 2023, EU legislation forced Apple to give up its proprietary Lightning port in favor of USB-C on the iPhone 15. Next year, EU regulation will push Apple to make additional changes.

While Apple’s App Store has been the only way to install apps on the iPhone, the EU’s Digital Markets Act aims to change that. It requires the “gatekeepers”—specific tech companies—to stop restricting users from getting apps from outside its own app stores. The deadline to comply is March 7. A recent Securities and Exchange Commission filing from Apple stated that the company “expects to make further business changes in the future” to the App Store. (Google’s Android already allows users to install apps downloaded from outside its Google Play app store.)

It’s unclear if Apple would change the App Store only in the EU or around the globe. An Apple spokesperson declined to comment on the company’s plans.

Then there’s Apple’s tightly protected iMessage. Beeper, a new app that brings iMessage to Android devices, has regulators pressuring the giant to open up its exclusive iMessage chat platform. Separately, Apple has agreed to adopt RCS, a messaging standard that will make “green bubble” texting with Android phones a bit more like iMessage.

Passkeys in more places

Passwords are lousy. When hackers exposed information belonging to around 6.9 million customers of DNA test-kit company 23andMe, the company said the attackers tried credentials stolen from other websites. Because people often reuse their usernames and passwords, thousands of logins worked.

That’s why, in 2023, companies including Google, Apple and Amazon moved toward passkeys, a type of login that can replace passwords and two-factor authentication codes. Starting next year, Microsoft will roll out passkeys for businesses.

A passkey is more secure than a traditional login because each is unique, it won’t work on fake sites designed to trick us and it can’t be stolen from company servers. It’s stored inside password managers and can be accessed with a face or fingerprint scan.

Today, over eight billion accounts are passkey-enabled, according to Andrew Shikiar, executive director of FIDO Alliance, which oversees security standards for passkeys. Shikiar expects 20 billion passkey-capable accounts by the end of 2024.

Rocking the vote in 2024

Millions can now generate images and videos with AI—and potentially influence elections around the world. In 2024, an estimated two billion people will vote in 50 countries. While manipulated media isn’t new, the ability to create convincing AI-generated sounds and imagery on a dime is. The White House said generative-AI systems have the potential to “erode public trust and safety in democracy.”

Former President Donald Trump posted a parody of Republican Ron DeSantis’s campaign launch with a video featuring AI-generated voice clones. In turn, a pro-DeSantis super PAC ran a television ad attacking Trump, using an AI-generated version of his voice. Meta Platforms is requiring advertisers to disclose when political ads on its Facebook and Instagram contain digitally altered media.

AI-enabled content isn’t the only concern. We can expect just as much or more old-fashioned disinformation compared with the last presidential election, too, said Erik Nisbet, a professor of communication at Northwestern University. That’s because some social-media platforms have either changed their policies or pared back their content-moderation efforts, Nisbet said.

Research has shown a particular rise in malign content on X, he added. The company didn’t respond to a request for comment. Meta now allows ads to say past elections were “rigged” or “stolen,” a false claim often repeated by Trump. At a conference, Meta’s head of global affairs said private-sector companies shouldn’t arbitrate whether politicians can “make claims or counterclaims about the legitimacy of previous elections.” Google’s YouTube will also no longer remove content questioning the legitimacy of former elections, saying the action could “have the unintended effect of curtailing political speech.”

Ride in a self-driving car—no, really

Robotaxis and self-driving vehicles in general had a rough 2023. GM subsidiary Cruise lost its license to operate in California and subsequently laid off about a quarter of its workforce. Tesla faced lawsuits over its “full self-driving system” on account of its apparent reliance on human monitoring, despite the marketing. And residents of San Francisco, the self-driving-est city in the U.S., expressed doubts about this technology.

Yet amid the chaos, there have been winners—in particular Alphabet subsidiary Waymo, which is continuing to expand its robotaxi service to more cities. If you travel to Phoenix, San Francisco, Los Angeles or Austin, Texas, you can hop in one of the company’s driverless taxis today. And it’s…surprisingly normal?

Meanwhile, Mercedes-Benz gained approval to roll out the first hands-free, eyes-off-the-road autonomous driving system in the U.S. It only works on certain roads, under certain conditions. Jeep and Chrysler parent Stellantis is working on a version, which it says will arrive in 2024. Ford says it will have its version in 2025.

No surprise, then, that in Phoenix, you can now hail a Waymo robotaxi through Uber, thanks to a recently announced partnership. Yes, the future is here. You just might have to go to Phoenix to find it.

Another social-media reckoning

As they seem to every year, Meta and TikTok face massive lawsuits, new laws, curbs from regulators, and the possibility of huge fines.

In 2024, Meta will have to contend with a grab bag of suits from more than 40 state attorneys general trying to force the company to change features of its products that the AGs allege harm minors. These include features that attempt to maximise teens’ and adolescents’ time spent on Meta subsidiary Instagram.

The company said: “We share the attorneys general’s commitment to providing teens with safe, positive experiences online, and have already introduced over 30 tools to support teens and their families.”

In December, the New Mexico attorney general filed a suit alleging the company steers predators to the accounts of children on Instagram. In a statement, Meta said it uses technology, industry protocols and partners in law enforcement, including state attorneys general, “to help root out predators.”

Should the suits somehow force Meta to make its products less appealing, they may accelerate users’ flight to TikTok. That could reignite the long-smouldering fire in Congress to ban the TikTok app outright. The initiative has won bipartisan support, but not enough to make it law. States have attempted their own remedies, but in November a federal judge blocked Montana’s TikTok ban, signalling that such state-level laws are unlikely to stand.

Meanwhile, age verification sounded like a promising move to protect kids on social media. But doing it effectively means clearing some high technical and administrative hurdles. It’s not likely you’ll see that in 2024.

Beyond heartbeats and nighttime Zs

Wearable gadgets have long tracked heart rate and sleep. Soon, they’ll be out for blood.

The Wall Street Journal previously reported that Apple is studying a way to track blood pressure through sensors in the Apple Watch. Next year—when Apple is expected to commemorate the watch’s 10th anniversary with a new design—the company might finally release the feature, which can notify a watch wearer when blood pressure is trending upward and direct the user to verify the measurement with a traditional inflatable cuff, according to a report in Bloomberg.

Other wearables may not be far behind. Fitbit filed a patent application for a display that could estimate blood pressure when pressed. Samsung has offered blood-pressure measurement on its Galaxy Watches for several years, though the feature isn’t available in the U.S. for regulatory reasons. Aktiia is a wrist-based wearable with an optical sensor that can capture 24/7 blood-pressure data. It’s currently only available in Europe, and is awaiting authorisation from the Food and Drug Administration for commercial availability in the U.S. Omron has a larger wearable device available in the U.S. now.

There’s certainly a market for this metric. The devices could make it easier to manage high blood pressure (aka hypertension), which affects as many as 119 million American adults, according to the Centers for Disease Control and Prevention.

This Country Will Police ‘Shrinkflation’ at the Supermarket

SEOUL—Food prices have risen so much that Kim Soo-yeon has developed a suspicious new habit at the grocery store. She has taken to shaking bags of her favourite brands of potato chips to see if they feel lighter.

“If companies are reducing the amount of food by unnoticeable amounts, it feels deceptive,” said the 32-year-old office worker in Seoul.

South Korean authorities will soon be backing her up in the supermarket aisles.

Seeking to temper the effects of inflation, many countries have sought to use political pressure to dissuade food makers from gouging consumers—with higher prices or lower volumes. South Korea is taking things a step further.

Starting next year, the country will require companies to disclose on their packages and websites when grocery items drop in volume, but not price. To ensure firms comply, South Korea is establishing a dedicated price-investigation team to monitor any fluctuations. Officials are considering levying fines, too.

South Korea’s muscular response to “shrinkflation” reflects how a sluggish economy—its projected full-year growth of 1.4% is roughly half that of other wealthy countries—has become a major problem for President Yoon Suk Yeol, whose approval ratings remain stuck in the mid-30s. Those unhappy with Yoon most commonly cite economic issues.

The new proposals to fight shrinkflation came as the government unveiled an initial list of violators. Following a monthlong investigation, authorities said the offerings of everything from beer to Vienna sausages to dumplings had quietly gotten smaller. Some 16 variants of flavored almonds had shrunk, too.

Choi Si-yeon, a 28-year-old office worker, said she was angry when she found out about what had happened with her favourite wasabi-flavoured almonds. Each bag contained 20 grams less, a seemingly undetectable amount.

“If they had raised the price, at least some consumers would notice,” Choi said.

The maker of the snack, a South Korean firm called HBAF, for Healthy But Awesome Flavors, said it had disclosed the product-size changes on its website. The firm pointed to the pandemic, a rise in labor costs and almond prices as factors.

Other companies also claimed to have made online disclosures or argued the slimmed-down offerings were part of flavour revamps.

Shrinkflation backlash has emerged elsewhere, too. France’s second-largest supermarket chain, Carrefour, has put up bright orange signs to highlight products it deems subject to shrinkflation since September. In the U.S., Sen. Bob Casey (D., Pa.) recently issued a report on shrinkflation, citing facial tissues and Oreos as examples.

With costs rising, what is often lacking is transparency over potential changes, creating room for a sense of injustice when shrinkflation occurs, said Rajiv Biswas, chief economist for the Asia-Pacific region at S&P Global Market Intelligence. “Consumers can’t check the website of hundreds of products,” he said.

Headline inflation in South Korea topped out at 6.3% in July 2022 from the prior year, below the recent peaks of 9.1% in the U.S. and 11.1% in the U.K. But food prices in the East Asian country had remained relatively low for decades, so the recent upticks have triggered outsize anger. Wages haven’t kept pace with rising prices. The country’s housing market—the main source of wealth for many South Koreans—has stagnated.

A majority of South Koreans plan to spend less money next year, according to a recent poll, with nearly half of respondents citing inflation as the chief reason.

Low inflation had been a particular policy priority for South Korea over the decades, helping the country’s export-heavy economy maintain a good environment for private investment, said Randall Jones, a former senior official at the Organization for Economic Cooperation and Development who led the group’s economic reports on South Korea.

“People aren’t used to inflation in South Korea,” said Jones, who is now a distinguished fellow at the Korea Economic Institute of America, a think tank based in Washington, D.C.

South Korea is conducting daily price checks for more than two dozen staple items such as milk and ramen noodles. The country’s antitrust regulator will list any shrinkflation examples on a newly created website and will handle enforcement of the new measures. The government wants to ink agreements with large South Korean retailers to build a joint monitoring system for some 10,000 everyday items.

That sliced cheese and other inexpensive items were among the first named shrinkflation violators irks people like Lee Hyun-woo, a 23-year-old university student. “If even processed food is shrinking, I feel betrayed,” Lee said.

In recent weeks, the country’s shrinkflation suspicions have touched everything from the cubed white radish accompanying Korean fried chicken to the cream density of a slice of strawberry cake.

Kim Young-hee, a 42-year-old homemaker, is glad about more government transparency. But the extra knowledge likely won’t change her habits, such as her occasional purchase of honey-butter almonds for her children.

“I’ll still buy the almonds,” Kim said, “but I don’t want to be tricked.”

Picasso, Monet, Warhol, Basquiat, and Richter Lead Artists Powering the US$1 Million-Plus Market

Pablo Picasso, Claude Monet, Andy Warhol, Jean-Michel Basquiat, and Gerhard Richter top a list of 50 artists leading the momentum for works valued at US$1 million or more, according to a report released Tuesday by Sotheby’s and ArtTactic, a London art market analysis firm.

The list ranked artists with an average of five artworks of US$1 million or more that sold each year between 2018 and 2022 at Christie’s, Phillips, and Sotheby’s—a methodology aimed at showing consistency. The analysis also considers sales value, liquidity, average prices, bidder confidence, and market momentum for each artist, and draws on Sotheby’s internal data on bidders and private sales.

Works by the top five artists alone made up more than a third of all US$1 million-plus sales at these top global auction houses in those years, the report said.

Shifts may be afoot, however. A “Power Rank” of top artists in the US$1 million-plus category, based on data from July 2022 to June 2023, “aims to identify artists whose markets show signs of growing momentum and interest,” the report said.

The top artists of this 12-month Power Rank are Jasper Johns, Lucian Freud, Paul Gaugin, Wassily Kandinksy, and Willem de Kooning.

“The Artists Who Power the $1 Million+ Market” is the second report by Sotheby’s and ArtTactic to explore this segment of the auction world, which proved to be “especially resilient” in 2021 and 2022, during the height of the pandemic and the beginning of the war in Ukraine. Despite representing a “small fraction” of works sold at auction, art that fetches at least US$1 million has “a tremendous impact on the market at lower levels,” the report said.

The analysis considers auction results at Christie’s, Phillips, and Sotheby’s in four categories: contemporary (including Post-War), impressionist and modern, Old Masters, and Chinese works of art. The list of top 50 artists from 2018 to 2022 who are powering the US$1 million-plus sector also includes insights from Sotheby’s private sales and its bidding activity data. Though the latter information is from Sotheby’s alone, similar activity is likely taking place at other auction houses, the report said.

“We all know that the art market has never been as transparent as the financial markets, so any information we can give our clients in terms of trends, analysis, and insight will allow them to make more thoughtful and educated decisions about their purchases, whether they see them as an investment or are pursuing a passion,” Mari-Claudia Jiménez, Sotheby’s head of global business development, said during a roundtable discussion with her colleagues and ArtTactic CEO Anders Petterson that’s included in the report.

The rare insight into private-sale data revealed that works by Alberto Giacometti, in addition to Monet, Basquiat, Picasso and Warhol, made up nearly 80% of Sotheby’s private transactions in the first half of this year. From 2019 to the first half of 2023, these same artists represented only 44.7% of private sales.

Sotheby’s internal bidding data—also rare to see—shows a rise in bidding for works with estimates between US$20 million and US$50 million in the first half of this year. “Despite market uncertainty,” this lofty segment has attracted 6.1% of bidders in the market for works valued at US$1 million or more, up from 3.8% in 2022, the report said.

Nearly 75% of Sotheby’s bidders raised their paddles for works priced between US$1 million and US$5 million from 2018 to 2022, though the percentage slipped to 72.4% in the first half of the year as 13.8% of collectors bid on works valued between US$5 million and US$10 million (up from 12.5% in 2022).

ArtTactic dug deeper into this internal bidding data to understand what category of works these collectors favoured, where they live, and how old they are. The data “provides collectors with additional context to understand some of the drivers behind emerging trends,” the report said.

Among its findings: Contemporary art was favoured by 56.1% of bidders; North Americans bid the most, representing nearly 36.4% of those vying for works of US$1 million or more; and Generation X is making their mark, accounting for the largest share of bidders in the market at 40.2%.

This generational shift is significant. Younger collectors are more comfortable buying across art categories, from Old Masters to Contemporary, for instance.

“The data in the report shows that our collectors, even the youngest ones, are interested in the entire span of history,” Brooke Lampley, Sotheby’s head of global fine art, said during the roundtable. “Education is such an important factor in the art market, and people are learning about art history in many different ways today.”

These younger collectors are interested in art in part because they are more exposed to it than previous generations, Lampley said. Private collectors today are exposed through the numerous art fairs they attend in addition to public auctions, which generations ago were attended more by dealers and others in the trade who then sold the works, she said.

“There has been a great effort to make people feel included in the art world and to make it accessible, both by galleries and auction houses,” Lampley said.

Notably, there are no women artists among the top five of the list of 50 powering the US$1 million-plus market, although four made the larger list. Joan Mitchell ranks No. 17, Yayoi Kusama ranks No. 19, Cecily Brown ranks No. 39, and Helen Frankenthaler ranks No. 47.

This Couple’s Milwaukee Home Lets Them Live Separately. They Couldn’t Be Happier.

Jason Kuwayama hardly ever goes to the front section of the new house he built in downtown Milwaukee’s Lower East Side. That is where his girlfriend, Leah Busse, plays “Call of Duty” in her designated game room—a space filled with her collectibles and art.

Instead, Kuwayama, an attorney, enters through the back of the house and spends most of his time in the main living area, an open, light-filled space with no clutter.

The two sections of the house are separated by a long hallway and an outdoor courtyard.

It is a similar scenario upstairs, in the primary suite: The two share a bedroom, but Kuwayama’s pristine bathroom is down a long hallway, and separated by the laundry room, from Busse’s, which is usually filled with clothes.

This arrangement suits them both well.

“My style is reductionist. I am a bit fastidious,” says Kuwayama, 43, who spent around $1.9 million building the house over 3½ years, finishing in 2021.

“I am a mess monster,” says Busse, 38, who works for a home-building company. “Jason wanted me to have my own space that he didn’t have to see.”

The separation between the front of the house and the back was part of a larger scheme for the house, designed by Brian Johnsen and Sebastian Schmaling of Milwaukee-based Johnsen Schmaling Architects to help create privacy in a demographically dense location.

Kuwayama bought the long, narrow—24-foot-wide—infill lot for $35,000 from Milwaukee’s Department of City Development. It sits tightly between two other houses and the setback is right up to the edge of the sidewalk, a requirement of the city aimed at preserving the neighbourhood’s character. Most of the other homes on the street are traditional, two-level structures with pitched roofs built as affordable housing a century ago—and most have the drapes drawn on their front windows to block prying eyes.

Jason Kuwayama and Leah Busse outside their home.

To allow the same privacy as those drapes but still let in light, Johnsen Schmaling came up with an exterior facade that acts as an abstract curtain, with slanted fins made from a hybrid of wood and aluminium. The tightly spaced vertical louvers are installed at gradually rotating angles with various degrees of openness, in part to imitate the movement of curtains and to respond to whether there’s glass or solid wall behind it.

“It creates a sense of mystery,” says Brian Johnsen, whose firm dubbed it Curtain House. The fins also act as a sun-shading device to protect the home from overheating in the summer.

A courtyard, bracketed between the front two-story section and the back two-story section, acts both as a buffer and a source of light, since it is open to the sky. Light comes into the house through the floor-to-ceiling glass windows that line the hallway along one side and the rooms (the kitchen one side, Busse’s game room on the other) on each end.

The main living area is open from the courtyard to the big windows and balcony that look over the river in back, also allowing in flood of light. The kitchen has a white island with an induction range and cabinets without hardware that open with a push, adding to the streamlined effect. The pantry is in back of the kitchen, also behind hardware-less doors.

The staircase, which leads both downstairs to the garage entry and a mud room and a cigar room and upstairs to the primary bedroom, has transparent glass panels supporting the tread on the ascending part, making the main floor feel wider and allowing a view of the river. The furniture is modern and sparse: a sea green Room & Board sofa, a glass Noguchi coffee table and a Barcelona chair.

Outside, the terrace is covered in fine grained rock and has a stairway with three platforms that leads down to the river. It has a pastoral feel, with trees and bushes fringing the property.

Kuwayama’s urban, modern, minimalist, open-plan, colour-free aesthetic is partly a revolt against his childhood home, a French chateau-style house in the Brookfield suburb of Milwaukee. His mother liked wallpaper and carpeting. His father leaned toward teak and Midcentury Modern art. The result was a compromise, with lots of small, separate rooms and bathrooms with their own colour (one avocado green, one brown and one pink).

Busse’s taste veers more toward traditional: an old manor with big wood banisters filled with knickknacks, she says. But she says she wasn’t interested in the design of the house because it was Kuwayama’s project from the start. Working for a home builder, she didn’t want to think about house plans when she was at home—and she wanted to move to a house with a big yard in the suburbs, she says.

Living in inner Milwaukee was also a form of rebellion for Kuwayama. He says when he was a teenager, growing up in the suburbs, it was implicit that he wasn’t to go downtown. After studying undergrad at Northwestern University, in Evanston, Ill., he attended Marquette University Law School, right in downtown Milwaukee, and stayed there after he graduated, eventually buying a condo along the north side of the river, about a half mile from his new house.

The couple met in 2014 on $2 taco night at a local restaurant called BelAir Cantina, when Kuwayama and his friend bought drinks and food for Busse and her friend. Busse promised to meet him at the same place the following week, but never showed. A few weeks later, she saw him at a Starbucks. (Locals call the city “Smallwaukee” because running into people you know is so common). Kuwayama retaliatorily ignored her, but she tracked him down and asked him out.

Busse, along with her dog and cat, moved into Kuwayama’s 1,150-square-foot condo in 2016. They liked living together but the space was too small, says Kuwayama. “You could never get away from anybody. You couldn’t separate at all,” he says. He saw the lot for sale and negotiated the price down from $140,000 to $35,000, in part because the land was so difficult to build on, he says. Kuwayama says the city was supportive of his project, allowing variances, because it wants the neighbourhood to remain single family homes.

Milwaukee has been going through a process of urban revitalisation for decades. Once a centre of manufacturing, attracting immigrants from across the world, Milwaukee’s population hit a peak of 741,324 in 1960, making it the 11th-largest city in the country and a centre of brewing beer. The city was immortalised in the TV show “Laverne & Shirley,” about roommates who worked at a brewery there.

Like many Midwestern cities, Milwaukee was hit hard by the recession in the 1970s and 1980s, while at the same time many of the more affluent residents moved to the suburbs. Over a 30 year period, from 1970 to 2000, due to the relocation of industry and competition from emerging markets overseas, manufacturing employment plummeted by more than 77,000 jobs, and accounting for nearly 95% of all job loss in Milwaukee since 2000, according to the City of Milwaukee. The latest census puts the city’s population at 577,000.

In the 1990s, the city implemented its Riverwalk initiative, a 3-mile pedestrian path that goes along the Milwaukee River, connecting downtown to the Third Ward. The city estimates property values around the path have grown by $1.5 billion since 1993 and moves are under way to expand it.

Architecturally, the city hasn’t evolved as quickly. Polish Flat and German Duplex structures—two-family homes with one unit stacked on top of the other—still dominate the street where Kuwayama built his house. Homes in the area have been increasing in value, up around 25% over the past year as of October 2023, according to Redfin. A few blocks away, a two-bedroom, one-bathroom, 1,160-square-foot, 19th century house that was remodeled sold for $254,000 in September 2023, while a two-bedroom, two-bathroom, 2,662-square-foot unit in a newly renovated condo building with a courtyard sold for $612,000 in July 2023.

Kuwayama says the reaction from people walking by his house (captured on security cameras) is mixed: Some love it, others are put off by the fins on the facade. One guy routinely takes dates through their back deck to their platforms overlooking the river. But he doesn’t mind. “I’m committed to the city of Milwaukee,” says Kuwayama. “Being accessible to the community is part of that.”

A Flurry of Bidding Has Started on a Mint Condition Spider-Man Comic

An impressively well-preserved issue of The Amazing Spider-Man No. 1 from 1963 will be sold at auction early next year and bids have already reached six figures.

The inaugural issue, which cost 12 cents when it hit newsstands 60 years ago, is in such good condition that it’s being called the “world’s greatest copy” by Heritage Auctions, which is selling the collectible as part of its Comics & Comic Art SignatureAuction, running from Jan. 11-14.

Considered to be in “near mint/mint” condition, the issue has a grading of 9.8 out of 10 from Certified Guaranty Company (CGC), a third-party grading service for pop-culture collectibles.

The comic is from a collection that was amassed by an employee of a museum who stored the comics in tight packs on the museum’s premises. It’s “considered one of the best Silver Age collections ever discovered,” said Heritage Auctions, referring to the Silver Age of Comic Books, a period that spanned roughly from 1956 to 1970 and saw the creation of some of the most famous superheroes including the X-Men, the Hulk, Iron Man and, of course, Spider-Man.

As of Wednesday afternoon, the current bid for the comic, which marked Spider-Man’s first appearance in his eponymous title, stood at US$220,000.

In July, another first issue of The Amazing Spider-Man, in slightly worse condition, sold for US$520,380.

Also selling at the auction is “one of the world’s finest copies” of Superman No. 1 from 1939, according to Heritage. It’s one of only two in the world graded a 7.0 by CGC and considered to be in “fine/very fine” condition.

“This is the finest unrestored copy we’ve ever offered,” the auction house said online.

A Superman No. 1—with a CGC grading of 8.0—sold for US$5.3 million in January 2022, breaking the record for the most expensive comic ever sold.

As of Wednesday afternoon, the highest bid for the issue stands at US$460,000.

‘Thrifting’ Extends to Holiday Shopping Too

A new kind of present is gaining acceptance this holiday season. More consumers are picking secondhand items to gift each other, finding it to be an environmentally and budget-friendly option.

Thrift stores that sell used clothes and goods are springing up online and on street corners. Goodwill Industries International, the nonprofit behind the familiar chain of thrift stores, is ramping up its online efforts. Fashion brands are developing their own resale offering to keep up with clothing-reseller sites such as Depop and Poshmark. Roughly 17% of gifts this holiday season will be a resold item, according to software firm Salesforce.

“Consumers are choosing resale first because of the incredible value, the unique merchandise, and the incredible sustainability benefit,” said Matt Kaness, chief executive of GoodwillFinds, the nonprofit’s online e-commerce platform run in partnership with Salesforce.

Secondhand clothes, once seen as frumpy and embarrassing, are now keenly sought out by the fashion conscious. A popular vintage aesthetic dovetails with consumer calls for goods that do less harm to the world. About 85% of American shoppers have bought or sold preowned items over the past year, nearly a third for the first time, according to online marketplace OfferUp’s Recommerce report. In apparel alone, some 10% of the global market will be secondhand by next year.

GoodwillFinds is the only major nonprofit player in resale.

GoodwillFinds’ online platform allows a smarter operation than the traditional bricks-and-mortar store, said Kaness, formerly an executive with retailers including Walmart and Urban Outfitters. The platform uses artificial intelligence and large data sets to more accurately price and categorise items, creating a much more efficient system, Kaness said.

“In a store, it’s a human looking at the item. They have paper sticker tickets for the price and they have to process such a volume that it is somewhat random,” he said. In contrast, the company’s online system uses computer vision to take a picture, identify the item, create a listing and price it.

Moving online is the logical choice for secondhand sellers, said 25-year-old Brooke Bowlin, who runs lifestyle blog Nuance Required. “Secondhand stores just can’t sell enough,” said Bowlin, who started her own thrift store in Siloam Springs, Ark. “By moving online and expanding the audience, there is an opportunity to re-home more clothes,” she said.

Major fashion brands are also increasingly recognising that secondhand is as much a necessity as it is an opportunity. The fashion industry is responsible for up to 8% of global emissions, relying on resource-intensive raw materials and fast-moving trends that have contributed large amounts of waste. Around 11.3 million tons of textile waste go to landfills in the U.S. every year, according to environmental organisation Earth.Org.

Outdoor-clothing retailer Patagonia established its Worn Wear platform in 2017, one of the first resale channels by a major brand.

As much as adapting to trends, Patagonia Worn Wear aims to change consumer behavior, said Asha Agrawal, managing director of the Patagonia venture fund that runs the platform.

“A lot of our messaging is around—‘you don’t need to buy something new,’” she said.

Worn Wear buys back used brand gear from consumers by paying higher prices than peer-to-peer apps or other marketplaces, Agrawal said. This strategy contributes to the bulk of the platform’s costs but also boosted its inventory fourfold this year alone, she said, adding Worn Wear has been profitable for the last two years.

Worn Wear is now integrated into the Patagonia brand. “You can now do your main shopping with Patagonia with our resale business in the U.S.,” she said. “That’s a huge evolution for us.”

Resale by brands and third parties is expected to outpace traditional thrift sales and donations in the U.S., rising to 60% of a $70 billion total by 2027 from 15% of the $20 billion secondhand market in 2017, according to online thrift store ThredUp’s recent resale report.

Other fashion players have their versions. Sweden’s Hennes & Mauritz launched H&M Pre-Loved in the U.S. this year, in partnership with ThredUp. Inditex-owned Zara has launched a preowned platform that offers repair services, customer-to-customer sales and donations of used garments in the U.K. and France, with plans for a U.S. rollout by 2025.

Resale remains an imperative for fashion brands as a way to control distribution and retain the trust of shoppers increasingly alert to the fate of their old clothes. However, scaling up resale generates a raft of operational challenges such as authentication, returns and ensuring that secondhand doesn’t look like an afterthought, said Anita Balchandani, fashion lead at consultant firm McKinsey & Co.

Unlike nonprofits, such as Goodwill, that get their inventory from donations and don’t have to be accountable to shareholders, retailers are struggling to make business sense of resales, Balchandani said.

“No one has proven the path to scaling this up profitably,” she said. “You almost have to create a whole new end-to-end supply chain…. The retailer who cracks that journey is going to make a real difference in this space.”

Millionaires Are Moving to These Countries in Droves

The global migration of high-net-worth individuals has expanded this year, with Australia returning as the top migration destination, according to a report Tuesday from Henley & Partners.

Approximately 120,000 of the world’s millionaires moved to a new country in 2023, according to the consultancy firm, which specializes in residence and citizenship by investment. That’s up from 84,000 in 2022 and expected to rise to 128,000 in 2024, the data showed.

Safety, a lower cost of living, favorable tax regimes and a high quality of life are top reasons for high-net-worth individuals to migrate. The top five destinations for high-net-worth individual migration this year include Australia, the United Arab Emirates, Singapore, the U.S. and Switzerland, according to the report, which defines high-net-worth individuals as those with US$1 million or more of investable wealth.

Meanwhile, China, India, the U.K., Russia and Brazil lead the ranking of countries with the most people leaving for other shores.

Roughly 82,000 high-net-worth individuals moved to Australia between 2002 and 2022, with another 5,200 arriving this year, the data showed. The country was also in the top spot between 2015 and 2019.

“Australia consistently attracts sizable numbers of millionaires every year, mainly from Asia and Africa, but more recently also from high-income countries such as the U.K.,” according to Andrew Amoils, head of research at New World Wealth, which teamed up with Henley & Partners for the report.

The country’s beautiful beaches and wide-open spaces, a high quality of life and an advanced economy, as well as good healthcare and education opportunities, make it a top pick, Amoils added.

Migration to the U.A.E. in 2023 was one of the highest on record, with around 4,500 millionaires moving there.

“Pre-pandemic, the U.A.E. traditionally saw net inflows of around 1,000 high-net-worths per year,” the report said. “Most incoming millionaires in 2023 are expected to come from India, with large numbers also coming from the U.K., Russia, Lebanon, Pakistan, Turkey, Egypt, South Africa, Nigeria, Hong Kong and China.”

Dubai has been a clear beneficiary of this trend, with home prices in the city rising nearly 20% annually in the third quarter, according to Knight Frank.

Singapore was the Asian city that saw the most millionaires move in last year, while the U.S. saw a steady stream of new residents migrate from Asia. Switzerland remains Europe’s top wealth hub and attracts new residents because of that, the report said.

This article originally appeared on Mansion Global.