Brandon Donnelly — Daily insights for city builders. Published since 2013 by Toronto-based real estate developer Brandon Donnelly. — Page 657

The sentiment around downtown/urban condos has completely changed over the last month or so. This is happening in Toronto and, from what I hear, it's happening in many other cities as well. Carolyn Ireland published an article in the Globe and Mail today called, " For downtown Toronto condos, the worm has turned ."

But I can also speak to what we (and our colleagues in the industry) are seeing on the ground. A sense of urgency has returned. Prices are starting to push upward. And people are buying. The last few weeks have also seen some very successful condo launches in the city including 8 Wellesley by CentreCourt Developments . I can't remember if they sold out in 7 minutes or 7.5 minutes.

None of this is necessarily surprising. Interest rates are low. The US is doing a good job at vaccinating its people. Single-family home prices have exploded over the last year (pushing buyers toward condos). And there seems to be an emerging view that the second half of this year is going to be pretty good. (This was my view at the beginning of the year and stand behind that position.)

Today was a beautiful spring-like day in Toronto. I was out for a site visit this morning and the sidewalks were filled with people milling about and enjoying the sunshine. City life isn't going anywhere my friends. Long live the city.

This is an interesting article by Ben Schott of Bloomberg talking about how "debranding is the new branding." In it he argues that for reasons of fashion, tech, and other factors, many or perhaps most brands seem to be shedding detail and depth in their brands/logos and moving toward simplicity and flatness. He calls this debranding (which doesn't quite feel like the right word to me.)

Countless examples are provided ranging from Burger King and KFC to Saint Laurent Paris and Diane Von Furstenberg. In all cases, their logos and lockups went from elaborate to minimal. And in some cases, names were deliberately shortened. Kentucky Friend Chicken, as you all know, became KFC, largely because "fried" was becoming an undesirable reference.

The same is also true for newer brands that have no history of elaborate logos. As I was reading through the article, I started thinking about some of the project brands that we have created over the years. Here is our logo for Junction House (crafted by Vanderbrand ):

Some of this is certainly about fashion. At this point, overly detailed logos feel a bit cartoonish and antiquated. Clean and minimal is pretty much what you want today. Slate's logo went through a similar transformation over the years and is now, as many of you know, a black box with white text.

Another part of this is that logos and brands now need to live in so many different locations from favicons and mobile apps to business cards and social media profile photos. Sometimes you just don't have enough real estate to show a lot of detail.

Simplicity can also signal strength. Starbucks is perhaps a good example of this. Initially their logo spelled out Starbucks Coffee. But now we all associate their green nautical-inspired sea lady with Starbucks Coffee and so those words are no longer necessary. This kind of brand equity, of course, takes time to build.

Fashion label Off-White is another interesting case study that I wrote about a few years ago, over here . What they have managed to do is take simple and mundane things like quotation marks and really own them as part of their brand. Put any word in quotation marks on a t-shirt and you'll have me thinking it's a $315 Off-White tee.

That's pretty powerful when you think of it.

I just discovered the work and writing of Dror Poleg . Initially trained as an economic historian and media theorist, Dror went on to work in advertising, tech, and real estate private equity, among probably a bunch of other things. Today he mostly writes. He's the author of Rethinking Real Estate: A Roadmap To Technology's Impact on the World's Largest Asset Class . I haven't read it (yet), but I did just subscribe to his weekly newsletter. Here are a couple of excerpts from a recent post called, " Rise of the 10X Class ."

In 2020, things are very different. Charli D’Amelio, a TikTok star that 99% of you have likely never heard of,  makes  $48,000 per post. By uploading one short video every day, the 16-year-old D’Amelio can earn 20 times more than the world’s most successful singer earned in 1801. Charli is scalable in a way that was possible only for a tiny group of TV, film, and pop stars 20 years ago, and was not possible at all in Elizabeth Billington’s time.

The internet makes it possible for many knowledge employees to work from anywhere. The earning potential of (many of) the most productive employees is no longer capped by geography. As a result, we will see the emergence of a new class of people earning salaries that are an order of magnitude higher than what we saw in previous decades.

Note that I am not talking about the emergence of a handful of highly-paid superstars in the vein of Hollywood’s Brad Pitt or Tom Hanks. I am talking about micro-stars in the vein of TikTok’s Charli D’Amelio: a whole new layer of professionals than earn incomes that are a level below the biggest earners on in their field, but still much higher than what the average employee (or singer, or dancer) could earn in the pre-internet era.

I call this new layer of professionals the 10X Class.