💸 Why are Gen Z bad tippers?

Good morning! Today is July 26 — people are talking about Biden’s war on junk fees, the Gen Z tipping trend, and more. As always, we’ve summarized and organized the different perspectives.

🥊 In the news: Biden vs. junk fees

The Biden admin declared war on rental housing junk fees. Voters seem to approve, but there are critics who say it won't actually cut costs for consumers.

🥊 Reuters: in July, Biden announced his administration was waging a war on junk fees in the rental housing market. He said it was a matter of “basic fairness”.

🥊 The White House said junk fees in the rental process charge renters unfairly, and called for more transparent rental costs and legislation to limit fees.

🥊 Bloomberg wrote that waging a war on junk fees could be a winning strategy for Biden: Voters tend to approve of slashing junk fees.

🥊 But Fox News wasn't impressed: The war on junk fees is an attempt to distract people from the fact that rental costs rose 25% under Biden.

🥊 And maybe cutting out junk fees won't actually save you money? USA Today says slashing junk fees will just make sticker prices go higher.

💸 Cultural trend: Why are Gen Z bad tippers?

Gen Z are notoriously bad tippers. What gives?

💸 Gen Z are the worst tippers, per CPA Practice Advisor. Only 35% of Gen Z always tip their server at sit-down restaurants, compared to 83% of Boomers. Why the gap?

💸 This Reddit thread says it's probably because Gen Z is young and broke. Boomers were probably cruddy tippers back in the 70s!

💸 Fortune says no matter the reason, this is the beginning of the end for tipping culture. Everybody is fed up — Gen Z is just doing something about it.

💸 But Fox Business says wait a minute, those numbers only show tip frequency. When young people tip, they actually tip more than older generations!

Quick hits from yesterday

🏛️ Hunter Biden is set to plead guilty to criminal tax charges, in line with a plea agreement he made with the Department of Justice. (NBC News)

📦 A tentative deal was struck between UPS and its Teamsters Union, one week before a planned strike that would've disrupted package shipments in the US. (CNBC)

🏈 QB Justin Herbert and the Los Angeles Chargers agreed to a 5-year, $262.5M deal, making him the highest-paid player in NFL history. (ESPN)

☀️ A World Weather Attribution Network study found that that climate change is likely responsible for the prolonged heatwaves in the US and Europe. (WaPo)

That’s it for today! Please message me at [email protected] with your takes, topic suggestions, or anything at all. Here at Shades we’re trying something new – filling you in with quick summaries from different points of view. We’d love to hear what you think.