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Learn from this investor’s $100m mistake

In 2010, a Grammy-winning artist passed on investing $200K in an emerging real estate disruptor. That stake could be worth $100+ million today.

One year later, another real estate disruptor, Zillow, went public. This time, everyday investors had regrets, missing pre-IPO gains.

Now, a new real estate innovator, Pacaso – founded by a former Zillow exec – is disrupting a $1.3T market. And unlike the others, you can invest in Pacaso as a private company.

Pacaso’s co-ownership model has generated $1B+ in luxury home sales and service fees, earned $110M+ in gross profits to date, and received backing from the same VCs behind Uber, Venmo, and eBay. They even reserved the Nasdaq ticker PCSO.

Invest for $2.90/Share

_{Paid advertisement for Pacaso’s Regulation A offering. Read the offering circular at invest.pacaso.com. Reserving a ticker symbol is not a guarantee that the company will go public. Listing on the NASDAQ is subject to approvals.}

Hey, Josh here. Love this new trend so thought i woulD share it with you.

Why Your Friends Are Trading Tequila Shots for Ginger Shots and Squats(And Making Bank Doing It)

You know that friend who used to be first at every happy hour? The one who knew every bartender in town and could rally the crew for last-minute drinks?

They're probably running a 5K at 6 AM now.

And here's the weird part: they're happier than they've ever been.

The Numbers Don't Lie (And They're Pretty Shocking)

75% of Gen Z now shows up to running clubs instead of nightclubs. Let that sink in for a second.

Meanwhile, 33% of Gen Z and 49% of millennials are actively drinking less. These aren't just statistics - this is your social circle right now.

HYROX events (think CrossFit meets obstacle course) grew 118% year-over-year. Running clubs on Strava jumped 59% in 2024 alone.

Traditional nightlife? Down 15%.

Something big is happening here.

Meet Anne Mahlum: The Woman Who Saw This Coming

Anne built a company called [solidcore] - those brutal 50-minute workouts that make you question your life choices. She sold it for around $100 million.

But before that, she started noticing something. People weren't just looking for workouts. They were looking for something harder to find: real connection and actual achievement.

"Endurance replaces partying," she says. And she's putting her money where her mouth is.

The $5,000 Question

Here's where it gets interesting. There's this event called 29029. You pay $5,000 to climb the equivalent of Mount Everest's elevation in 36 hours at a ski resort.

Yes, you read that right. Five thousand dollars. To suffer.

And they sell out. Every time.

Why People Pay Premium Prices to Punish Themselves

The 29029 model breaks every rule of traditional events:

• Only 250 people per event (scarcity works)

• 85% completion rate (it's actually achievable, barely)

• Luxury glamping between climbs (comfort after pain)

• No phones allowed (forced human connection)

• Multiple achievement levels (not everyone has to summit Everest)

But here's the real hook: you get a story that lasts forever.

Think about it. When someone asks about your weekend, what sounds better:

• "I went to three bars and can't remember how I got home"

• "I climbed the equivalent of Mount Everest in Vermont"

The Psychology Behind the Shift

Your brain craves achievement. Always has. But modern life doesn't give you many chances to feel genuinely accomplished.

Scrolling Instagram for three hours? Not an achievement. Binge-watching Netflix? Doesn't count. Surviving another Zoom meeting? Barely registers.

But climbing 29,029 feet in 36 hours? Your brain lights up like a Christmas tree.

Plus, there's the community aspect. When you're all suffering together at 3 AM on a mountain, you bond differently than you do over shots at a crowded bar.

58% of participants made genuine friendships through fitness groups. Gen Z is four times more likely to meet romantic partners through exercise than at bars.

The Business Opportunity (This Is Where It Gets Really Good)

The wellness tourism market is worth $639 billion and growing to $1.2 trillion by 2032.

But here's what most people miss: it's not just about the money flowing into existing businesses. It's about the completely new categories being created.

Premium challenge events like 29029? $50 million market growing at 30% annually.

Mass participation fitness racing like HYROX? $140 million with 25% growth.

Local running clubs and community events? Exploding everywhere with zero capital requirements.

How to Spot (And Profit From) This Trend

The shift is happening whether you participate or not. But if you're smart, you'll position yourself to benefit.

For Entrepreneurs:

• Event planning is moving from party coordination to challenge organization

• Hospitality is shifting toward wellness retreats and active experiences

• Technology solutions for training, community building, and performance tracking

For Investors:

• Look for companies serving the "achievement economy"

• Wellness real estate (think recovery centers, training facilities)

• Platforms that combine fitness with social connection

For Everyone Else:

• Your social calendar is about to change dramatically

• The people investing in their physical capabilities now will have advantages later

• Professional networking is increasingly happening during workouts, not happy hours

The Real Reason This Matters

This isn't just about fitness. It's about a fundamental shift in how people find meaning.

Previous generation: status through consumption Current generation: status through capability

Previous generation: escape through substances Current generation: growth through challenges

Previous generation: connection through shared experiences Current generation: connection through shared achievements

What Happens Next

The businesses that understand this shift will capture disproportionate market share. The ones that don't will watch their customers disappear to mountain tops and running tracks.

Smart hospitality companies are already building recovery amenities into their properties. Forward-thinking employers are replacing happy hours with group fitness challenges. Savvy real estate developers are incorporating training facilities instead of just party spaces.

The Bottom Line

Your friends aren't just getting healthier. They're getting smarter about where they invest their time, money, and attention.

The question isn't whether this trend will continue - it's whether you'll be part of it or watching from the sidelines.

Because while everyone else is still trying to figure out what happened to nightlife, the early movers are already building the next economy around achievement, wellness, and genuine human connection.

And they're making serious money doing it.

The party's not over. It just moved to the mountains.

Ready to explore this opportunity? The endurance economy is just getting started, and the best time to get involved was yesterday. The second best time is now.