As longevity shifts to A.I. and predictive health, male-biased data risks repeating old inequities at scale. Unsplash+
Longevity has become one of the defining cultural fixations of our time. Biohackers are tracking every heartbeat, billionaires are sequencing their genomes and wellness influencers are touting the latest “life-extending” protocols as if they’re new commandments. Yet for all its promises, the modern longevity movement remains built on a narrow foundation: men’s health.
The paradox is hiding in plain sight. Women live, on average, five to seven years longer than men, but far fewer of those years are spent in good health. While women make up half the population, the frameworks shaping the future of aging rarely center on their biology or lived reality. Instead, women spend six to eight of their later years in poorer health, often cycling through unanswered symptoms, inadequate treatments and delayed or missed diagnoses.
Women are diagnosed an average of four years later across hundreds of diseases, and nearly three-quarters say they have felt dismissed, disbelieved or “medically gaslit” by the healthcare system. They are also 50 percent more likely than men to experience adverse drug reactions, a reflection of decades of dosing studies based almost exclusively on male physiology. This is not longevity. It’s a prolonged wait for the care women should have received earlier, and equitably, in the first place.
Men built this, women paid the price
The roots of these inequities are not solely theoretical; they’ve been baked into the system. Women were not required to be included in U.S. clinical trials until 1993, decades after many of the physiological baselines that still inform diagnostics, treatment protocols and risk models were established. “Normal” lab ranges, diagnostic checklists and predictive algorithms were built around male bodies and male aging patterns. The consequences are ongoing. Even now, women experiencing a heart attack are more likely to be misdiagnosed than men, in part because symptoms such as nausea, fatigue or jaw pain do not match the male-coded archetype of chest pain. Today’s longevity sector risks repeating this history by designing testing, biomarkers and interventions that default, again, to the male body. The leadership demographics of the field make this imbalance difficult to ignore: roughly 85 percent of decision-makers in healthcare are men.
The effects compound over a lifetime. Nearly two-thirds of Alzheimer’s patients are women, not simply because women live longer, but because hormonal, mitochondrial changes and immune differences unique to women meaningfully affect aging at the cellular level. Autoimmune diseases, which overwhelmingly impact women, remain among the most underfunded and least understood areas of medical research.
Ironically, the very biology that makes women distinct is also deeply relevant to longevity itself. Estrogen, for example, is not just a reproductive hormone; it plays a key role in enhancing mitochondrial energy production, antioxidant defense, bone density, cardiovascular health, cognitive function and immune regulation. When estrogen declines during menopause, biological aging accelerates across multiple systems at once—cardiovascular, neurological, metabolic and immune. Ovarian aging, in particular, is one of the earliest and most predictive indicators of whole-body aging. Yet it remains absent from most mainstream longevity models, which prioritize metrics like muscle mass, VO₂ max, or epigenetic clocks without accounting for sex-specific biological timelines.
We’ve made progress, but not enough
There are signs of momentum. Investment in women’s health technology is growing. Menopause is finally entering public conversation. Researchers are increasingly vocal about sex-specific data gaps. But progress remains fragile and incomplete. As longevity pivots toward A.I.-driven insights and predictive analytics, the risk of embedding historical bias into advanced systems grows. Algorithms trained on male-dominant datasets will inevitably generate male-default recommendations. Without intervention, the future of health will replicate the inequities of the past, only faster and at a greater scale.
Another force still shaping this landscape and distorting priorities is cultural stigma. Entire domains of women’s health—hormones, menopause, vaginal health—are still marginalized or treated as niche or taboo concerns. The clitoris was not fully mapped until 2005. Only a small fraction of biomedical R&D funding is directed toward female-specific conditions.
This imbalance persists despite market realities. Analysts project the global longevity market will exceed $500 billion by 2030, but women-focused solutions currently capture less than one percent of that total investment. Even the vaginal microbiome, which influences fertility, immune function, preterm birth and gynecologic cancers, rarely features in discussions about systemic aging, despite its clear relevance to lifelong health.
A new blueprint for longevity
We now stand at a critical inflection point. With billions flowing into aging research, biotech and consumer health tools, there is an unprecedented opportunity to build longevity systems that include women from the ground up. That requires concrete shifts:
Sex-specific clinical trials that reflect the diversity of female physiology across life stages.
A.I. and wearable technologies trained on menstrual cycles, menopause trajectories and sex-specific biomarker patterns.
Standardized measurement of ovarian aging treated as a core healthspan metric.
Major investment in female-specific research, including autoimmune diseases, ovarian aging and the vaginal microbiome.
Medical education reforms that mandate sex-specific diagnostic criteria and symptom recognition.
Most importantly, it requires reframing the goal itself. Women do not simply need longer lives, but better and healthier ones—lives defined by clarity rather than confusion, care rather than dismissal and dignity rather than decades of uncertainty.
Longevity was never meant to be a mirror of the past. It was meant to be a blueprint for a healthier future. But that future will remain incomplete until women’s biology is treated not as an exception, but as a foundation. It’s time to reclaim longevity, not as a male-coded aspiration, but as a universal right that finally places women at its core.
A candid look at modern bakery economics from one of NYC’s most watched shops. Alexander Stein
This Q&A is part of Observer’s Expert Insights series, where industry leaders, innovators and strategists distill years of experience into direct, practical takeaways and deliver clarity on the issues shaping their industries. In a New York food scene defined by relentless turnover and algorithm-fueled hype, Radio Bakery stands out for a different reason: it has built genuine staying power.
Led by chef and co-owner Kelly Mencin, Radio Bakery has become one of the city’s most consistently buzzy—and influential—bakery brands. With locations in Greenpoint and Prospect Heights, Radio is known for its seasonal pastries, savory-forward menu and lines that seem to materialize regardless of weather, press cycles or platform trends. The bakery has earned praise from The New York Times, The Wall Street Journal and daytime television alike, but its real achievement may be cultural rather than critical: Radio feels embedded in its neighborhoods rather than extracted from them.
At a moment when many food businesses chase virality, Mencin has built Radio around repetition, rigor and restraint. Menu innovation is constant, but never at the expense of execution. Scarcity exists, but as a function of space and process, not manufactured exclusivity. Social media plays a role in visibility, yet the brand’s identity is grounded in what happens on the floor: the rhythm of service, the confidence of the team and the reliability of a loaf of bread that tastes the same every day.
In this conversation, Mencin unpacks the business of running a modern bakery at scale—what it takes to sustain demand in a trend-saturated market, how systems and leadership protect creative integrity and why community collaboration remains central to Radio’s growth strategy. From managing hype and seasonality to navigating post-pandemic shifts in consumer taste, Mencin offers a pragmatic look at how durable brand equity is built in hospitality, one batch, one service and one neighborhood at a time.
Chef and co-owner Kelly Mencin oversees Radio Bakery’s culinary direction, with a focus on systems, seasonality and long-term sustainability. Courtesy Radio Bakery
Radio Bakery has become one of those rare New York spots that consistently draws a line around the block. Beyond great pastries, what are the key ingredients that create that kind of sustained enthusiasm and loyalty?
Consistency and passion. One of our neighbors down the street at our Greenpoint location comes in every single day for a loaf of our seeded bread. Every day. He has come to expect that the bread will be the same, if not better, every day, and if it’s not, he will let us know! I say passion, but what I am really trying to convey is energy. When you walk into Radio, the energy from the bakers, sandwich cooks and servers is palpable. You can feel the heat from the ovens, smell the croissants, watch the cookies being scooped. The music is on, the staff is chattering. It just feels good to be in the space. People want to be around what makes them feel good.
Radio is known for its seasonal “drops” that feel both curated and consistent. How do you balance creativity with consistency, especially when developing new or seasonal items that customers now expect to sell out?
We have a few factors we look at. The two biggest ones are scalability and execution. Anyone can make something perfect once. The biggest test is making 60 to 180 of that same item, perfectly, every single time—and not letting it wreck service. Then, that perfect execution needs to be taught to our bakers. Can they all pipe perfectly? Maybe not. Can we teach them to? We’ll try our hardest. If it can’t be executed at a high level, we won’t run the item.
New York’s food scene moves fast, and trends turn over even faster. What’s your strategy for staying relevant without chasing every new flavor or format that pops up?
Simple, delicious food will always be relevant. We focus on seasonality more than anything else and let the ingredients speak for themselves.
From your vantage point, how has the business of bakeries evolved post-pandemic? Are there lasting shifts in consumer behavior, operations or expectations that you’ve had to adapt to?
I am still in awe of how many bakeries keep opening up every season since the pandemic! New York City has no shortage of sweet tooths. The biggest shift, in my opinion, is in people’s taste. More and more, I am seeing bakeries put savory pastries on the menu or sandwiches. We have been lucky enough that our model has worked for us extremely well. From the start, we were making savory croissant-based pastries and different focaccias and sandwiches. People want to come in and get a savory item and a sweet item, more often than not.
Social media has played a role in Radio’s visibility. What’s your philosophy around online storytelling? How do you translate something as sensory as a pastry into digital moments that resonate?
I knew from the start that I wanted our Instagram to be a platform for inspiration, not only for industry vets but for food lovers in general. I think our page resonates with so many people because it isn’t too manicured. There’s a good range of professional photos, behind-the-scenes videos of our processes and staff faces.
You’ve built a model that embraces scarcity without leaning on exclusivity. How do you think about managing hype, especially around holiday drops or social-media-driven surges in demand?
To be honest, the “hype” aspect of radio bakery is still a hard pill for me to swallow. We didn’t create Radio Bakery as a “hype” or “viral” bakery. Radio’s intention has always been to create simple, craveable food. The scarcity aspect only comes from the fact that our baking spaces are so small—there is a limit to how much production (or people) we can fit in each space. When it comes to managing the hype, we try to remind guests that most items take three days to make, we are making as much as we can and that if they miss out on one drop, there will always be another. We will never sacrifice quality for quantity.
Radio Bakery has become a cultural touchpoint as much as a culinary one. How intentional has that been, and what role does community play in your brand strategy?
Community has always played a huge role in how radio functions. Radio started as a pop-up. We reached out to industry friends who ran our favorite businesses (Mel the Baker, Bonnie’s, Claud) and literally popped up in their spaces selling what we were testing. It created an amazing community pocket in each area of the city. Once we opened Radio, we decided to make it a point to continue to do pop-ups and collabs with other like-minded people. It allows us to connect in a meaningful way with other people and businesses we’re excited about, keeps us learning and it keeps our guests engaged.
Many hospitality founders talk about the challenge of scaling without losing soul. As you’ve expanded from Greenpoint to Prospect Heights, what have you learned about growth and maintaining a distinct brand identity?
Radio wouldn’t be able to grow as successfully as we have if we didn’t have a strong management foundation. Each bakery relies on a “Bakery Chef”—think of it as a Chef de Cuisine—that runs the back-of-house operations at each location. They each bring their own management style, ideas and culture to each bakery. We learned early on that I, personally, cannot help radio grow and thrive if I am deep in the day-to-day operations. Instead, I’ve taken on the role of culinary director, essentially working with the bakery chefs side by side, creating new menu items, dialing in the current menu and looking ahead. Nina, our general manager, also goes back and forth between both bakeries, helping to oversee the FOH operations and the overall growth of the bakeries. It’s true what they say—teamwork really does make the dream work!
nside Radio Bakery’, where compact production spaces, open kitchens and steady rhythm shape both the guest experience and daily operations. Alexander Stein
Consistency is a constant challenge in high-volume bakeries. What systems or team philosophies help you maintain Radio’s quality and creative integrity at scale?
The biggest lesson we learned this year was creating SOPs (Standard Operating Procedures) for everything! From how we build our sandwiches to how we create a weekend special. Even then, we look at all of our recipes and SOPs as “living documents.” Some of our recipes have three to five different versions of them all saved in our library.
Having updated recipes is only the first part of the consistency challenge. Proper communication between managers and staff is the other part of it. We’re all learning and teaching in real time.
The holiday season also puts a spotlight on leadership, especially in a high-pressure, high-visibility business. What practices help you lead your team through those peak periods effectively?
It’s going to sound simple stupid, but I am so big on getting enough sleep, eating healthy meals throughout the day (instead of just snacking on sugar) and making time for myself to either run or go for a walk. I am lucky that I am able to carve out time for myself during the workday to step outside, get some sunshine and go for a run. It gives me a reset during a busy day and lets me keep showing up positive for my team.
It’s been a learning curve, but I have also come to realize that leaders “bring the weather” with them. I try to hit the ground running when I come into work, exude high energy and positivity and give out a LOT of affirmations.
From menu innovation to brand identity, what’s your process for deciding when to iterate and when to hold onto a core classic?
We are constantly iterating, refining and tasting our menu, from the core classics to our seasonal items. Radio’s menu was designed with several aspects in mind: flavor (a cinnamon item, a citrus item, a vegetarian savory, a fruit item), texture (chewy, crunchy, soft, sticky), and shape (pinwheel, claw, round, square). So, whenever we choose to change an item, it has to fit into its specific category. As far as seasonal items, we retest and taste and tinker with whatever we ran the previous year before deciding that we will run with that again. If we want to try something new, it has to be better and more craveable than what we have previously run.
Looking ahead to 2026, what does thoughtful growth look like for Radio Bakery? Are there ways you’re thinking about expanding the brand—or protecting its essence—as demand continues to build?
Right now, I am trying to focus on two big-ticket items: one, mentoring and growing our team and two, developing systems that make everyone’s job more streamlined. As unsexy as that sounds, the team and our systems are a big reason for Radio’s success. Having a team that loves to teach and mentor translates into bakers and servers who are knowledgeable and confident. Having the right systems in place allows us to scale up production while still making crazy delicious product. Tangible growth-wise, I am so excited that we are expanding our production space at our original Greenpoint location with the hope that we can have more diverse offerings throughout the day.
A classic croissant from Radio Bakery, where laminated dough is treated as both a technical discipline and a foundation for seasonal variation. Alexander Stein
With an equity-sharing workforce and medical-grade hygiene, MiniLuxe aims to set new standards for the beauty industry. Photo by Josh Campbell, Courtesy MiniLuxe
This Q&A is part of Observer’s Expert Insights series, where industry leaders, innovators and strategists distill years of experience into direct, practical takeaways and deliver clarity on the issues shaping their industries. In an industry long associated with toxic fumes, exploitative labor and narrow definitions of beauty, MiniLuxe is reimagining what luxury means: clean, ethical and empowering from the inside out. Founded more than 15 years ago with the goal of professionalizing nail care, MiniLuxe has become a case study in how design, technology and purpose can elevate even the most everyday rituals into meaningful acts of self-care.
As CEO Tony Tjan explains, MiniLuxe was built on the belief that true luxury isn’t about exclusivity but intentionality, an accessible “everyday luxury” that celebrates both client well-being and employee dignity. By investing deeply in its workforce through training, equity participation and career mobility, the company has achieved over 85 percent annual retention among hourly workers—an anomaly in beauty and personal care. MiniLuxe’s model has proven that ethics and economics can reinforce one another. From its proprietary clean lab and non-toxic product line to its use of A.I.-enabled pricing and predictive scheduling, the company’s innovations extend beyond aesthetics. Tjan sees the future of self-care as a balance between technology and humanity—where personalization, community and creative expression remain core.
At a time when conscious consumers are reshaping the definition of luxury, MiniLuxe offers a blueprint for how modern brands can scale integrity as effectively as growth. The company’s success suggests that the next generation of prestige is defined by purpose, transparency and the people behind the polish.
The nail care industry has long been fragmented and informal. What business strategies allowed MiniLuxe to professionalize the space while still remaining accessible to clients?
We founded MiniLuxe to radically transform the nail care industry, beginning with clean and ethical work practices and the empowerment of our team members— through a better and healthier work environment, practical training, economic mobility and creative self-expression. We have been able to do this with the belief that clients want a brand that stands for quality and consistency, and are willing to pay a slight premium for cleaner and better-for-you services and the ethical and empowering treatment we provide to our workers. By investing in our team members, we get long-term loyalty with over 50 percent of our hourly team members having five years or more of service (and with that are granted equity options) and an annual hourly worker retention of over 85 percent.
Luxury is often defined by exclusivity. How do you reconcile that with MiniLuxe’s positioning as an “affordable luxury”?
When we started this business 15+ years ago, my co-founders and I wanted to find something that was “Starbuck-able”—a small ritualistic personal luxury that made people feel good but was accessible to a broad base.
The price point of a coffee, lipstick or manicure makes these goods and services more recession-proof and “everyday” luxuries. Luxury is a term that goes well beyond “exclusivity,” which is a somewhat dated and narrow notion of what luxury truly means. Modern luxury is more intentional and increasingly about experiences, self-care and emotional well-being.
We were also, I believe, the first to recognize that the nail care industry was bifurcated between a very large number of mass, lower cost, traditional “corner nail salons” (think the nail salon equivalent of independently-owned quick service restaurants) and very high end and expensive day spas where you might have to spend hours wearing a robe to get your nails done (think fine dining for nails). Our belief was that there was latent consumer demand for an affordable prestige experience in the form of a new “fast casual” experience that we ended up calling MiniLuxe.
Employee retention in the beauty industry is notoriously difficult. What lessons can other service-based industries learn from MiniLuxe’s approach to talent development and equity participation?
Purpose and people are everything. You need to have clarity of your purpose or “why,” and you need to inspire your people with a job and a north star that gives intrinsic meaning. It’s key for your team members to be maniacally aligned around that north star. The lesson that I have learned over the years is that people ultimately stay or leave a company more because of the intrinsic meaning that they feel for their job. That said, we complement our efforts to deliver on our purpose with a belief that our economic success—our extrinsic rewards—needs to be shared throughout all levels of our team. When you combine a strong purpose with a commitment to share these rewards, there is strong alignment. There’s nothing magic about it, but not enough businesses do it: marrying significance with success.
One of the most fun ways that we get to celebrate our employees is when they hit certain milestones in their careers. We are proud to acknowledge our team members with equity rewards at each five-year anniversary and complement those equity option grants with other recognitions, such as having a custom nail polish color named after team members who have been with us 10 years or more. It’s great learning about the stories of why 10-year anniversary members pick the color they pick and the name for that color. One designer named a color Yun Tree, and another one Ruth. They were named after a tree in the person’s home country, and in the other case, Ruth was a lifelong client who had passed away, and the color was her favorite.
The number of hourly-working nail designers who have been with us for 10+ years is around 10 percent of our team and those who have been with us for five-years plus represents about 50 percent of our team.
As consumers become more conscious of the ethical footprint of the products and services they use, how does MiniLuxe turn “ethical and clean” into a business advantage rather than just a marketing claim?
Clean and ethical nail care was the founding principle and strategy of differentiation for MiniLuxe. When we started the business, we pioneered elements like a proprietary Clean Lab with surgical grade sterilization, we utilized our founders’ backgrounds in science from Harvard to help develop better-for-you products; built the pedi stations with no whirlpools (to avoid bacteria risk), created immaculate waxing rooms with strict clean protocols, and we committed to the ethical and fair treatment of our workers. Since founding MiniLuxe, we have paid out nearly $150 million in fair and ethical wages to our nail designers, and we also decided from the outset not to offer acrylic nail services (which were and are a popular segment of nail services, but are simply not good for you and our workers’ health). Other large company investments included when we decided to pull all OPI and Essie and develop our own line of MiniLuxe 8-free polishes and nail treatments, including our Environmental Working Group (EWG)-certified and best-selling cuticle oil, all made in the USA to ensure full oversight and transparency at every step.
What is most rewarding are the memories and stories that we have heard from our clients and team members about what our clean and ethical standards have meant for them. One of the most common comments from first-time clients is, “Oh my God, there is no smell!”
One memory that still moves me was the first time a client told us confidentially that she was going through cancer treatment and that this was the only place that she and her doctor felt safe for her to go for a mani-pedi, which meant that much more to her during a challenging period. We have since heard similar testimonies from various at-risk patients. The disclaimer here is, of course, that patients should check with their doctors what is safe or not safe for them to do while undergoing treatments, but to be seen as the better-for-you and safer choice for many is meaningful.
Another surprise call once came from the head of one of the most prestigious hospitals in the Boston area. One of our nail designers had recently joined their team as a newly minted phlebotomist. The director wanted to personally call me to share how amazed she was that we had nail designers with such depth of knowledge of key hygiene protocols and how personable this particular worker was with her infectious hospitality. We’ve also had our designers tell us that they feel very safe while pregnant, versus how miscarriages are a common risk in several salons that don’t follow hygiene protocols.
Technology is at the core of your model, from A.I.-enabled pricing to digital-first booking. How do you see technology shaping the future of luxury personal care services?
A.I. has many applications in personal care and candidly will likely have its largest impact in more staid and archaic industries. Within the world of personal care, we see A.I. having a role in predictive yield management, dynamic pricing, training and the overall client experience, especially in the area of personalized recommendations.
At MiniLuxe, we are big believers in using technology to give our nail designers greater autonomy and more time to focus on what they do best, honing their craft. Technology also eases the stress of scheduling and coordination, allowing our designers to work more efficiently.
MiniLuxe operates at the intersection of wellness, beauty and luxury. How do you differentiate in a crowded beauty market that increasingly blurs these categories?
Our biggest differentiator is the clarity of our purpose—to empower our communities through self-care and self-expression, with an anchored purpose that allows us to create differentiation across our brand, culture, technology and overall platform systems.
Overall, the types of businesses and business transformations that have intrigued me are where capital and entrepreneurship can be used as a force for good and where you can apply design and technology to archaic industries. The nail industry is only beginning the birth of its innovative phase.
On a personal level, I have a deep appreciation for Japanese- and Scandinavian-inspired design with pops of whimsy. We have tried to have the MiniLuxe brand echo some of that aesthetic, and it has been equally important to have a view of simplicity for the technology that we are bringing into the business, from our app, to our booking systems, to digital payment and inspiration mood boards for nail designs.
A people-first model and clean innovation are the first steps toward transforming the $10 billion nail care industry. Photo by John Horner, Courtesy MiniLuxe
In a time when some consumers are cutting back on salon visits, what makes the nail care category resilient, and what does that say about the evolving definition of discretionary spending in the luxury market?
As long as modern nail care has been part of the American landscape (since the early to mid-1970s), nails have shown incredibly resilient and steady growth outside of “black swan” events like Covid-19, which temporarily shut down the industry. Nail care is the most democratized entry point of beauty and self-care services, making it an affordable luxury like a movie ticket or lipstick (e.g., the lipstick index) in good times and bad. And in some cases, it can even have the contrarian impact of increasing sales during a recession as consumers shift spending from more expensive self-care and beauty services to more affordable experiences such as nail care.
MiniLuxe has developed proprietary clean products alongside its salon business. What role does vertical integration play in building a defensible and scalable brand?
Vertical integration is an important part of any defensible and scalable brand, but it usually comes at a later stage of development for companies. We are being selective where we vertically integrate and are most focused at this time on delivering 10x betterment of our client experience.
Today, we integrate proprietary MiniLuxe products seamlessly into the overall brand experience, prioritizing better-for-you, clean formulations in-house. We maintain control over quality, innovation and consistency. For example, we have been early in the identification of ingredients that we don’t believe should be in nail care products. None of MiniLuxe’s branded products has, for example, TPO, which has been a hot topic in the news. Any time we evaluate a third-party product, we make sure that it meets our internal standards of safety by being toxic-free or only trace (i.e., non-harmful levels) of anything we have on our ingredient watch list.
The clean beauty market can be murky, with many products claiming to be “clean.” By pursuing EWG certification, one of the most rigorous standards, we ensure that our clean beauty claims are backed by real, verifiable standards in products such as our Cuticle Oil. We scale thoughtfully, ensuring new products, like our recently launched hand cream, are naturally incorporated into our nail care rituals, enhancing the client experience at every touchpoint.
How has digital and social media marketing changed how luxury beauty brands like MiniLuxe connect with customers compared to a decade ago?
No different than any other brands. End-users have shifted to their phones and other screens for the “social proofing” of their choices. With that said, nail care is a fairly intimate experience where the provider is touching and holding your hands (and waxing even that much more) so there is as much influence in the moment with what a trusted provider might recommend for healthier nails, color selection, nail art design or post-waxing care.
At MiniLuxe, we embrace digital shifts by using social media and online video to highlight our artistry and tell stories that are authentic and in a personal voice. From showcasing our designers across different markets to sharing nail art and wellness routines, we create content that both inspires and educates, while reflecting the trust clients experience in the salon. We focus on original ideas, not just pushing products, making the social media experience feel more personal. This approach brings the intimate, in-person experience online, letting us connect with audiences in real time and show visually what we do best.
Scaling ethical values—whether wages, benefits or hygiene standards—can be difficult when expanding. How do you ensure consistency across regions as MiniLuxe grows?
One of our board members once said, “Show me a good studio/store and I’ll show you a good studio/store leader.” It again comes down first and foremost to having as many A-leaders in our studios. We don’t always get it right but we are intentional, patient and very greedy about who we hire, promote and develop as our studio leader, operating or franchise partners.
In addition to getting great people who can lead in the studio, we do everything possible to build a strong culture and systems. Our systems span the range from how to properly shape and color a nail to monitoring key performance indicators of the business to how best to position and execute on a new product or service for launch. When you pair a strong leader with strong systems, you don’t guarantee success, but you sure increase the probability of it. Furthermore, none of these systems is static, and there is an interdependency between developing great systems and great people. What do I mean by that? Our team of operating partners, studio leaders and nail designers acts as a neural learning network to improve our systems. It’s like a living and breathing Slack learning channel that shares ideas, provides feedback, hacks and ways to improve on any system or aspect of our business.
Do you see your employee equity and ownership model as a template that could transform other low-wage, high-turnover industries?
I see broad employee ownership as an economic tool that goes well beyond retention and the potential, if used more broadly, to narrow the income inequality gap that we have in this country. There are two great financial innovation tools for the broader base of Americans to generate wealth.
One, the home mortgage, which allows one to have a leveraged way to build long-term equity value that outstrips the cost of the borrowed capital. And two, equity ownership that complements a W2 check. The latter has long been used as a tool for executives and higher-ranking employees, but in my vie,w should be used more broadly across businesses that have liquid stock appreciation potential.
Imagine if just a fraction of the successful big-box retailers and large retail chains that employ hundreds of thousands of hourly workers shared just a little of their equity gains with those floor workers. Even if a very small portion of that equity pool was reserved for special or emergency needs of the core base of hourly workers (at MiniLuxe, we have a small but important emergency resiliency fund), that would be a positive advancement of overall workforce engagement and security.
What consumer trends—whether in wellness, sustainability or design—are most likely to reshape the beauty and nail care industry over the next five years?
Increasing integration of A.I., technology and design into more human-centric elements of wellness that cannot be digitized will shape the future experiences of self-care. While there are exciting developments in robotics and other technology, which will take some share from the marketplace (no difference from home-based massage chairs), there will, for the foreseeable future, be a market for human-to-human connectivity and real-world experiences. In fact, as technology and A.I. become more pervasive, the luxury of self-care may be that which is done IRL by real humans in an intentionally well-designed space.
Tjan is on a mission to build a scalable business model rooted in equity, not exploitation. Courtesy MiniLuxe
Many luxury sectors are exploring personalization powered by A.I. and data. Do you see a role for hyper-personalization in nail care, or is consistency and standardization more valuable?
The two are not mutually exclusive. There is no one use case for getting your nails done. For example, if there is a special event, one might want to have highly customized nail art or an expression of nail design that reflects their fandomship for a team, character or other affiliation, but day-to-day, that same person might value super consistent standardization of their go-to simple classic nude or neutral nail look.
Again, as stated above, hyper-personalization is reshaping luxury beauty, and Paintbox’s custom press-ons are a direct response to the growing demand for bespoke experiences. Each set is handcrafted by a designer, using techniques like freehand drawing, 3D elements, gradients, intricate patterns and gem work, turning nails into wearable, reusable works of art. As elaborate press-on nail looks make waves on red carpets, Paintbox brings that same level of luxury and personalized creativity to everyday clients.
Looking ahead, what does the “future luxury salon” look like, and how might MiniLuxe be shaping that vision?
The future luxury salon will consider nail care across its multiple dimensions of consumer value: self-care, self-expression and community connection. I see nails as the “new face” with endless possibilities and spaces that elevate nails from what may be viewed by some as trivial beauty to a new category of accessory, identity and expression—a safe space (that 1×1 cm canvas of a nail plate) to make a statement about your individuality.
In addition to individual expression, the future nail studio will equally embrace the role that nail care has played over the decades as a mini-moment of joy and self-care. What will change is the form factor in which we deliver both expression and care, whether that be reimagined chairs, cocooned nooks or areas that use A.I. to digitally inspire one’s creativity. We will also be more expansive in our view of nail trends, bringing more east-to-west trends and catering to a modern global citizen and more conscious and intentional consumer. Exciting times ahead!
From small bakeries to global brands, New York’s bagel makers are shaping a cultural and culinary economy rooted in tradition and reinvention. Courtesy Utopia Bagels
There are few foods more synonymous with New York City than the bagel—a simple ring of boiled and baked dough that somehow embodies the spirit of the city itself. Equal parts humble and iconic, the bagel has risen from its immigrant origins on the Lower East Side to become a global culinary symbol. Today, bagels are fueling a thriving cultural and economic ecosystem that stretches from Brooklyn bakeries to international markets, generating billions in annual revenue while preserving the heritage of craftsmanship that first defined the New York bagel.
From immigrant bread to city symbol
The story of the bagel is the story of New York. Brought to the United States in the late 19th century by Eastern European Jewish immigrants, the beygel found a new home in the tenements and bakeries of Manhattan’s Lower East Side. Early bagel bakers, organized under the Bagel Bakers’ Local 338 union, were fiercely protective of their craft, hand-rolling, boiling and baking every piece with care. By the early 1900s, New York had nearly 70 bagel bakeries, and the bread had become a staple of working-class life. By the mid-20th century, the bagel had evolved into an American breakfast essential. Industrial innovations like the rotary oven and the Lender brothers’ mass-produced frozen bagels made it a national phenomenon. Today’s artisan revival—driven by hand-rolled, malt-boiled, crusty bagels—reclaims the authenticity that first made the New York bagel famous.
“Bagels are a New York staple,” says Jesse Spellman, co-owner of Utopia Bagels in Whitestone, Queens. “They always will be. Keeping our recipes and traditions consistent for over 40 years gives people a taste of the New York culture of the past.” Spellman’s family has been hand-rolling, kettle-boiling and baking bagels in a 1947 carousel oven since 1981, and their commitment to heritage has made Utopia one of the city’s most celebrated institutions
Mascots Len and Phyl nod to the brands that industrialized and popularized bagels nationwide, transforming a regional staple into a household breakfast. Courtesy of BagelUp
The bagel economy
New York remains the undisputed bagel capital of the world, home to hundreds of specialty bagel shops across the five boroughs. Iconic institutions like Ess-a-Bagel and H&H Bagels have evolved from family-owned shops to major producers and franchised brands. Ess-a-Bagel recently opened a 7,500-square-foot manufacturing facility in Harlem, while H&H plans 70 new franchise locations across the country.
“The economics of the bagel business is the same as the rest of the restaurant industry,” says Craig Hutchinson, chef and owner of Olmo Bagels in New Haven, Connecticut. “But the difference is how willing you are to be transparent with your guests and your team. We stress the importance of making guests feel seen and special. That free kindness helps our guests justify the rising costs of living in 2025 and beyond.” For Hutchinson, community and hospitality are part of the recipe. “We embraced the community and used the bagel as our hospitality vehicle. We all fell in love with the fast-paced bagel industry and never looked back.”
That sentiment is echoed by Jimmy Stathakis, founder and CEO of Bagel Market, who has reimagined the traditional shop through modern design and digital innovation. “The bagel is a cornerstone of New York life: fast, familiar and full of character. It reflects the city’s diversity and resilience. At Bagel Market, we see ourselves as part of that cultural fabric, offering a space where heritage meets contemporary taste.” He adds, “Margins remain challenging in the food service industry, particularly in New York City, but strong brand positioning and operational discipline create room for growth. We focus on scalable systems, efficient supply chains and consistent quality.”
In Maine, Jeremy and Marina Kratzer, owners of Dutchman’s Wood Fired Bagels, bring a small-town perspective to the same story. “Being as smart as you can on labor, and really managing the food costs, are keys to success in today’s ever-changing industry,” Jeremy explains. “Building relationships with your purveyors is a great way to ensure that you have someone to trust and look out for you when you need things.”
Across the Pacific, Talia and Kelly Bongolan-Schwartz, owners of Tali’s Bagels & Schmear in Hawaii, share a similar struggle, but their story is a testament to dedication. “Hand-rolling bagels is very labor-intensive,” says Tali. “It’s always difficult to balance that with pricing, payroll and profit—especially living in Hawaii, where all ingredients are imported and rent is at a premium.” Despite these challenges, they’ve built a loyal following: “About 90 percent of our customers are regulars.”
Adding to the evolving economics, Orly Gottesman of Modern Bread & Bagel underscores how growth comes from multiple lanes: “Margins in retail food are generally tight… Growth potential exists if you find ways to diversify revenue. We supplement our retail business with direct-to-consumer shipping, retail mixes and catering.”
The modern bagel economy blends tradition and trend: hand-rolled classics served alongside inventive flavors designed for a global palate. Courtesy Utopia Bagels
From the Pacific Northwest, Brittany Erwin of B’s Bagels & Butters points to where revenue concentrates: “In Washington there is definitely growth potential, but not in the form of a traditional bagel shop… any growth is in the form of sandwiches or catering.” Erwin adds, “In Washington there has been a bagel explosion in the last 3 years, and the majority of shops are leaning away from NY style. Most of them are leaning towards the sourdough bread craze and serving airy, hard crusty bagels.”
Nationally, the U.S. bakery sector worth over $60 billion with bagels maintaining rapid growth. The global bagel market reached $5.58 billion in 2024 and is projected to hit $7.35 billion by 2030, growing at nearly 5 percent annually. Europe and Asia have embraced the bagel as both a fashionable food and a cultural export.
In Denmark, Emily Bridges, founder of Bagel Belly in Copenhagen, is part of that international wave. “For Americans living in Copenhagen, bagels are an everyday food; they’ll grab one on the way to work or stock up for the week.For Danes, it’s more of a special and unique treat, and something fun to enjoy on weekends or share with friends” she says. “For many of my customers, my bagel is the first bagel they’ve ever tried, which is always exciting and a big responsibility!”
The bagel as cultural currency
More than just a breakfast, the bagel carries deep symbolic weight: of identity, comfort and connection. Declared New York’s official state bread in 2008, it remains a culinary shorthand for the city’s diversity and drive. “NY bagels are iconic because of their long-standing history in a busy, busy world,” says Hutchinson. “We realized that the real secret wasn’t just the bagel itself, it was dedication to community, to early hours and to always baking fresh. Those are the shops that become staples.”
Stathakis adds, “New York bagels have a texture, flavor and history that are unmatched. The secret lies not only in the city’s water but more importantly in its culture: the precision, the pace and the pride of generations who perfected this craft.”
For Yero Rudzinskas, owner of Baltik’s Bagel in Richmond, Virginia, the story has gone national: “The bagel has outgrown the five boroughs and occupies a special place in the imagination of Americans broadly. Of course, the bagel is one of the most recognizable New York culinary exports, but at this point, everyone has the right to expect a freshly baked bagel close enough to enjoy every day of the week.”
From Copenhagen to Honolulu, the New York bagel’s DNA travels well, even as it adapts. “People are hungry for bagels all over the world,” says Bridges. “A bagel transforms any time it’s made in a new location: ingredients, taste, even the malt syrup, but the soul stays the same. The soul of a New York bagel is rooted in tradition but never stops evolving.”
Modern Bread & Bagel’s Gottesman frames that tradition through inclusion. “Bagels are one of NYC’s most culture-centric foods… contributing to that identity meant making our version open to everyone, those avoiding gluten and those who just want a delicious, authentic bagel, so people don’t feel like they’re giving anything up.”
And in Washington State, Erwin sees the culture expanding via social buzz and community ritual. “The bagel boom has spread to TikTok which means bagels are trendy for all ages,” she says, noting that what began as a treat has become a daily staple for many regulars.
At BagelFest, veteran bakers showcase the enduring art of New York bagel-making—boiled, baked and served with a side of nostalgia. Courtesy of BagelFest
The new wave: festivals, global influence and social impact
The modern bagel is no longer confined to the five boroughs. It’s a global connector. The rise of BagelFest, founded by Sam Silverman in 2019, has elevated the humble bagel into a worldwide cultural event. Hosted annually at Citi Field, with this year’s event on November 16, the festival attracts thousands of attendees and dozens of competing bakeries, each vying for the title of “Best Bagel.”
Silverman’s mission extends beyond the event itself. Through BagelUp, he and his team are teaching bagel-making to new audiences and using food as a bridge between cultures in New York, one of the most diverse cities in the world. BagelUp offers immersive hands-on classes where locals and international tourists alike can learn the art of crafting authentic New York bagels. These classes draw aspiring bakers from around the world eager to experience the city’s culinary traditions firsthand.
BagelFest partners are spreading that same spirit of connection globally. Among the most inspiring collaborations is between BagelUp exhibitor Olmo Bagels, which has partnered with Oído, a nonprofit culinary school in Mexico’s Yucatán Peninsula led by Chef Gabe Erales, the winner of season 18 of Top Chef. Together, they’re building cross-cultural culinary programs that celebrate craftsmanship and community, from New York kitchens to Mexico’s rural classrooms.
“Many of these kids have never had the means to travel outside their community,” Erales explains, “but through food they can connect to the world. When they see the cultural tie between bagels and New York, it’s like a window into another culture. Earlier this year, we took a group of students to Oaxaca to visit a friend’s cooking school. It was their first time on a plane, and for them, it was like going to Disneyland.”
At BagelFest, bakers and enthusiasts gather to taste, rank, and celebrate New York’s most iconic food that has grown into a $7 billion global market. Courtesy of BagelFest
The taste of tomorrow
As New York continues to evolve, so does its most famous food. The next generation of bakers is blending tradition with innovation: experimenting with sourdough starters, regional grains and globally inspired toppings while honoring the heritage that made the bagel a symbol of community.
Gottesman sees the future in “continued diversification: more dietary-inclusive options, more direct-to-consumer retail products and technology integration for ordering and fulfillment,” alongside neighborhood shops that “combine excellent product with smart operations.” Erwin is blunt about the operational direction: “More sandwiches… in this economy we need to be building bigger check averages,” she says, while hoping quality won’t slip as the category scales.
“I think the bagel business is heading in a strong direction,” says Spellman. “It’s one of the few foods that everyone, across ages and backgrounds, continues to love. It’s hard on the outside, soft on the inside—like a true New Yorker”.
From the bustling counters of Queens to the teaching kitchens of Quintana Roo, the bagel continues to unite people across borders. Whether in New York, New Haven or Mexico, it remains more than bread. It is a bridge between cultures, a testament to resilience and a rising symbol of how simple food can inspire extraordinary connection.
Matcha is booming globally, but Western commercialization is blurring cultural lines, raising questions about authenticity and sustainability. Unsplash+
Walk into any New York City or Los Angeles cafe, and you’re bound to see matcha lattes on nearly every menu. Today, matcha is a multi-billion-dollar category, valued at roughly $3.8 billion and projected to surpass between $6 and $7 billion by 2030. The Japanese Ministry of Agriculture, Forestry and Fisheries reported that the 2024 tencha output, the leaf used to produce matcha, was more than 2.5 times greater than it was ten years prior. Yet despite its popularity, much of the Western market has strayed from the Japanese tea culture it claims to celebrate, leaning instead into commercialization, pastel aesthetics and trend-driven marketing that obscure the drink’s origins. This pivot away from cultural roots raises bigger questions about authenticity, consumer trust and the sustainability of global supply chains, forcing brands across the beverage and wellness industries to confront where cultural appreciation ends and cultural appropriation begins.
The problem with “ceremonial” vs. culinary
The majority of the Western matcha branding is built on surface-level and shallow narratives—phrases like “Zen rituals” or “ancient traditions” that often gloss over the history and cultural meaning. Even common labels that consumers might think hold weight—like “ceremonial grade” and “culinary grade”—are actually marketing inventions. In Japan, there is only one form of matcha, traditionally used in tea ceremonies, such as chadō. The ceremony is meant to be a meditative ritual emphasizing harmony, respect and mindfulness. As the tea ages, it is repurposed for cooking, not because of a quality hierarchy but as part of a cultural practice rooted in stewardship. Western labeling systems create the illusion of quality tiers when, in reality, they reflect a lack of authenticity.
Demand, supply chains and distortion
Beyond surface-level marketing, the surging global demand for matcha has reshaped supply chains—with both benefits and drawbacks. Demand has nearly tripled since 2010, with Japanese production rising from about 1,400 tons to more than 4,000 tons in 2023. On one hand, international attention has given Japanese tea farmers access to new opportunities for differentiated revenue streams. On the other hand, supply shortages and inflationary pressures mean that local consumers are paying higher prices for a product that’s deeply tied to their daily rituals and cultural heritage. Today, ceremonial-grade matcha can now sell for $30 to $100 per ounce as demand far outpaces supply.
Compounding the issue, other countries—most notably China and Vietnam—have entered the market with low-cost green tea powders labeled as matcha. These substitutes dilute the category’s integrity and confuse consumers, while Western brands sourcing from bulk suppliers risk misleading their customers and undermining small family-run farms in Japan that continue to uphold centuries-old practices and traditions. Without long-term brand partnerships and reinvestment, these farms, which are already challenged by an aging workforce, face the risk of disappearing altogether.
Authenticity as a business imperative
This isn’t just a cultural issue—it’s a business issue. Today’s consumers are more discerning than ever. They demand transparency not only in ingredients and efficacy, but also in sourcing and values-based purchasing. Driven by surging demand, Japan’s green tea exports, including matcha, rose 25 percent to $252 million in 2024, while the volume of exports grew by 16 percent, according to Japan’s Ministry of Agriculture, Forestry and Fisheries. Market research firm NIQ reported that U.S. retail sales of matcha alone jumped 86 percent from three years ago—evidence of just how rapidly the category is scaling. Yet growth will not guarantee endurance. Brands that reduce tradition to an accessory or buzzy positioning may enjoy temporary popularity, but they risk losing long-term credibility in a market that increasingly rewards authenticity. This desire for transparency and respect for heritage is what led me to create wellness brand Apothékary.
The line between appropriation and appreciation
Too many brands have been blurring the line between appreciation and appropriation. But the difference is clear: appropriation extracts while appreciation amplifies. True appreciation requires a commitment to education, investment and reciprocity, whether that means sourcing directly from Japanese farmers, reinvesting in their communities or accurately contextualizing traditions rather than bending them for Western convenience. As the wellness industry matures, authenticity and cultural respect will evolve into powerful competitive advantages. Brands that prioritize building trust through respect for craft, culture and supply chain integrity will endure. Those that don’t could very likely end up on the wrong side of consumers’ scrutiny down the line.
Matcha’s rising global popularity could ultimately serve as a powerful bridge between cultures, connecting traditions across continents. Authenticity is not just about heritage. It’s the key to the market’s future. Unless brands begin treating matcha as more than a trendy green powder for lattes and stunt marketing campaigns, the category could end up collapsing under the weight of its own hype.
Restricting shareholder proposals undermines the checks and balances that protect markets, innovation and social responsibility. Unsplash+
Illegal child marriages. Coerced sterilization. Debt bondage. Until recently, shareholders had the right to raise such human rights concerns through formal proposals to corporate boards, a right protected by the Securities and Exchange Commission (SEC) for nearly a century. Recent regulatory and interpretive changes, however, are creating new challenges for this fundamental avenue for accountability.
The sugar cane industry, for example, has become emblematic of harmful supply chain practices, involving some of the most visible and widely reported examples of concerning business practices. Companies including Pepsi, Coca-Cola and Mondelez have faced investigations into alleged labor abuses, including debt bondage. At Pepsi’s 2025 annual meeting, shareholders sought to submit a proposal requesting a report on the company’s efforts to address human rights violations in its supply chain. The company excluded the proposal, citing SEC staff’s revised interpretation of Rule 14a-8, outlined in Staff Legal Bulletin 14M (SLB14M).
SLB14M provides guidance on the application of Rule 14a-8, which allows eligible shareholders to submit proposals for inclusion in a company’s proxy statement. The bulletin also specifies circumstances under which companies may exclude these proposals. Citing that revised interpretation, Pepsi argued that the reported abuses occurred in franchise operations (which are “expected” to follow a code of conduct), not in Pepsi’s direct supply chain, and that the franchise sales were not “significantly related” to Pepsi’s business. Essentially, Pepsi claimed that the source of the ingredients sold under its brand did not materially affect its own business because the company itself did not purchase them. The SEC agreed with Pepsi, preventing shareholders from voting on the proposal.
Pepsi did not dispute reports that its products sold in India were allegedly made with sugar obtained through a supply chain linked to debt bondage and coerced hysterectomies. Instead, the company contended that these issues were unlikely to materially impact its operations. According to the SEC’s interpretation, shareholders may only make proposals with significant financial implications for the company itself, no matter the broader social or environmental consequences.
While SEC rules often shift with administrations, this case reflects a larger trend: a narrowing of shareholder voice. Several recent developments illustrate the pattern:
Collectively, these developments constrain shareholders’ capacity to influence corporate behavior towards more sustainable or ethical practices. Critics of shareholder engagement argue that investors should focus solely on financial returns, treating social and environmental considerations as irrelevant. This is a false dichotomy on two levels. First, environmental and human rights issues often carry real financial risks. Second, systemic harm—from environmental degradation to inequality—affects the broader economy and threatens the diversified portfolios and returns of investors.
The economic opportunity in sustainable business practices
The sugar supply chain demonstrates both the risks and opportunities for companies and investors. Brands derive tremendous value from reputation. The perception that Pepsi products are linked to labor abuses can erode consumer trust and is a significant concern for the company. Addressing these issues presents an opportunity to safeguard brand equity and strengthen customer loyalty. For shareholders, engagement extends beyond a single company’s prospects. Human rights and sustainability issues influence global economic conditions, which in turn impact the returns of diversified investors. By encouraging companies to adopt responsible practices, shareholders can help stabilize markets, support GDP growth and mitigate systemic risk.
The path forward: strengthening market-based solutions
Notably, this regulatory shift is occurring under a Republican-controlled administration and Congress, which has historically advocated for private property rights. Policymakers should ensure that proposal mechanisms remain consistent with free-market principles, enabling investors to allocate capital efficiently and hold companies accountable. If financial market rules are being revised, it should not be forgotten that the strength of our economy is based on a free capital market, which allows investors to fund a broad array of enterprises that create authentic value over the long term.
Limiting shareholder voice affects far more than greenhouse gas emissions and DEI. It alters the balance of power in capital markets, shifting decision-making from investors to executives and politicians. Investors are losing the power to push back when corporate executives risk the future of the company or the economy to boost profits. And this doesn’t just harm investors. This means our markets will become less effective allocators of capital, as decisions are made by unrestrained executives driven by short-term incentives or politicians swayed by political maneuvering, rather than by a commitment to the integrity of capital markets.
The innovation opportunity
Recent SEC actions show the practical consequences. In March, SEC staff allowed Wells Fargo to exclude a proposal on workers’ rights and collective bargaining, a proposal that observers note likely would have been allowed a few months prior. Limiting shareholder engagement reduces opportunities for market-driven innovation in workforce development, climate solutions and sustainable growth strategies. Climate issues illustrate the stakes vividly. Analysts project that unchecked greenhouse gas emissions could reduce global GDP by 50 percent between 2070 and 2090. Economic modeling suggests that decisive global climate action could lead to a $43 trillion gain in net present value to the global economy by 2070. Investor engagement can accelerate the transition to cleaner energy and sustainable business models, creating economic opportunities while mitigating systemic risks. Ignoring investors’ voices on these matters rejects the role that capital has played in creating the economic engine of the U.S. economy.
Workers depending on 401(k) plans, such as those in the American Airlines plan, could face real financial consequences if investor oversight is curtailed. Estimates suggest that the current trajectory of emissions could depress the entire equities market by up to 40 percent. The fossil fuel industry’s shortsightedness and the current administration’s policies are exacerbating the environmental crisis and creating economic and retirement instabilities.
Limiting shareholder voice threatens far more than individual investors. It weakens the very mechanisms that keep U.S. markets dynamic, resilient and capable of driving long-term growth. The muzzling of investors is part of a larger story: environmental data is being scrubbed from federal websites, critical scientific inquiry is being stalled and dissenters are being penalized. Historically, U.S. markets and democracy alike have relied on open debate and the free flow of information. Undermining shareholder oversight is part of a broader erosion of transparency that threatens both markets and the very norms that underpin a free society. Shareholder input is not a political preference but a market stabilizer, an innovation driver and a critical check on corporate governance. Preserving this function is essential to sustaining the economy, the integrity of capital markets and the broader social and environmental systems on which long-term prosperity depends.
