Business
Tinder bets on group dating feature to win back Gen Z
Tired of navigating the online dating landscape alone? Now you can swipe right along with friends.
Tinder launched a double-dating feature Tuesday, allowing users to create joint profiles with friends to match with other pairs.
Double Date, as the feature is called, is the refined version of the failed 2016 product Tinder Social, which was discontinued in 2017 over privacy concerns and user confusion about its purpose.
To activate Double Date, users select up to three friends to create a pair with. Then they can browse and like other paired users. When both pairs like each other, a group chat opens between all four people to coordinate plans.
The feature also allows users to message individuals within a matched pair privately if they want to transition to a one-on-one conversation. Users can maintain multiple pairings with different friends while keeping their individual dating profile separate.
The feature was popular with young users when it was tested in Europe and Latin America. Cleo Long, Tinder’s head of product marketing, said the feature is meant to help relieve dating stress for younger users.
“This is a social-first experience that’s really meant to help relieve some of the pressure that we know a lot of Gen Z experiences with dating by making it more social, more fun, and bringing your friends in to help reinforce that comfort piece,” Long said.
West Hollywood-based Tinder said nearly 90% of people who tried Double Date were under 29, aligning with the company’s push to retain Gen Z.
The group dynamic appears to resonate with women, who were three times more likely to show interest in paired profiles compared to individual ones during testing. Users in group chats also sent significantly more messages — about 35% more than typical one-on-one conversations.
The company said the feature helped bring users to the platform. About 15% of people who accepted Double Date invitations were either completely new to Tinder or returning after a period of inactivity.
The positive testing results prompted Tinder to accelerate its U.S. launch ahead of schedule.
Tinder is owned by Match Group Inc., the company behind Hinge and OkCupid. It is facing mounting pressure on its business. In the first quarter of 2025, Match Group reported a 5% decline in paying subscribers across all its apps, while Tinder saw a 7% decrease in subscriptions. In response to these shifts, Match made the decision to lay off approximately 325 employees, or 13% of its workforce.
These recent losses are part of a broader pattern. Tinder’s paying user base has slipped from more than 11 million subscribers in late 2022 to roughly 9.1 million today. The consistent decline has caught the attention of activist investors, including Elliott Investment Management.
The mounting pressure led to significant leadership changes within the company. In May, Tinder Chief Executive Faye Iosotaluno announced she would step down in July after less than two years in the role. Spencer Rascoff, who was appointed Match chief executive in February to tackle the slowdown in user engagement, stepped in to lead Tinder directly.
Rascoff has outlined an ambitious technology-focused turnaround plan. In an internal memo viewed by the Wall Street Journal, he called on staff to speed up product changes and use artificial intelligence, emphasizing that employees should prioritize user experience over short-term revenue.
The company has rolled out AI features that help users create better profiles and prompt them to reconsider potentially inappropriate messages before sending them.
Tinder has also launched “The Game Game,” which uses OpenAI’s speech-to-speech technology to let users practice flirting with AI-generated personas in over-the-top scenarios designed to reduce dating anxiety through humor.
During the company’s first quarter earnings call, Rascoff noted that Match’s apps have fallen out of favor with younger daters because many saw using them as a “numbers game.” He believes Double Date can help shift perceptions, calling it less “hook-uppy” and more about having “a good time as friends.”
Tinder’s struggles reflect broader trends in the dating app industry. Dating apps have been losing their appeal amongst singles in recent years, especially Gen Z, the generation born between 1997 and 2012. Only 26% of online dating services users in the U.S. are 18 to 29 years old, while 30 to 49-year-olds comprise 61% of that same user base.
Gen Z increasingly prefers meeting potential partners through mutual friends and real-world gatherings.
Los Angeles has become a testing ground for dating alternatives that skip swiping entirely. Start-ups like El Segundo-based First Round’s on Me encourage immediate in-person meetups, while Venice’s Lox Club hosts weekly community events for singles to mingle.
Whether Double Date can reverse Tinder’s fortunes remains to be seen, but Rascoff is betting that the future of dating lies not in perfecting the swipe, but in reimagining how people connect.
Gen Z is “not a hookup generation,” he said. “They don’t drink as much alcohol, they don’t have as much sex. We need to adapt our products to accept that reality.”
Business
Rent-hike ban to protect fire victims ends despite gouging concerns
A rule intended to prevent rent gouging in the wake of the Eaton and Palisades fires has lapsed in Los Angeles County, possibly exposing some renters to hikes.
The executive order that blocked rent increases was issued by Gov. Gavin Newsom amid the devastating wildfires last year. Under the order, landlords couldn’t increase rents by more than 10% above their prefire levels.
The rule, which was supposed to be temporary and was repeatedly extended, ended Friday after a vote to extend it again failed to garner enough votes. Supervisor Lindsey Horvath, whose district includes Pacific Palisades, sounded the alarm in a motion to extend price protections that failed to pass at the Board of Supervisors’ May 19 meeting.
“These price gouging protections continue to be necessary as construction and rebuilding continue, and as thousands of people remain displaced,” the motion said. “Families which signed short-term leases could face drastic price increases of 50% or more without further price gouging protection.”
Los Angeles County is home to more than 1 million rental properties, though not all of them needed protection from the new rule. There are already stricter rent increase caps for many residences, depending on the location, type and age of the building. Despite the rent control in the region, the people of Los Angeles pay among the highest rents in the country.
It is uncertain whether renters will face rapidly rising rents now that the protection has lapsed. But some real estate experts and policymakers said there was no need for the temporary rule that was part of the governor’s state of emergency.
Supervisors Kathryn Barger, Janice Hahn and Holly Mitchell abstained from voting on the motion to extend the protection, while Supervisors Hilda Solis and Horvath supported it.
“I abstained because I did not see sufficient evidence to justify extending this emergency ordinance, nor did I see evidence to eliminate it entirely,” Hahn said.
Barger’s office said she supported allowing the protections to sunset while waiting to see whether new information emerged.
“Market data already shows countywide rents are only about 2% above pre-emergency levels and rental inventory has grown,” Barger representative Helen E. Chavez Garcia said. “The Supervisor is also mindful of the burden these ongoing protections place on small property owners throughout the county.”
Mitchell did not immediately respond to a request for comment.
There haven’t been steep rent hikes in neighborhoods within three miles of the Palisades fire, according to a Times analysis of data from Zillow, the property listing company.
In ZIP Codes within three miles of the Palisades fire, rent increased 4.8% from December 2024 to April 2025. In areas around the Eaton fire, which destroyed swaths of Altadena, rent jumped 5.2% in the same period.
In L.A. County, ZIP Codes farther from the fires saw only about a 2% increase.
A landlords representative, Jesus Rojas of the Apartment Owners Assn. of Greater Los Angeles, told the supervisors during public comment at the meeting that the county’s rent-gouging rules have “long outlived the emergency they were intended to address” and are now being “wrongfully used to harm thousands of rental housing providers throughout the county.”
“There is no proof that multifamily rental housing providers are hugely increasing rents for impacted homeowners,” Rojas said.
Indeed, there are strong signs that the property market in the Los Angeles area has at last begun to cool.
L.A. metro-area rent prices recently fell to a four-year low, with the median rent slipping to $2,167 in December.
Meanwhile, condominium sales had their slowest start of the year in decades. Condo sales in Los Angeles have plummeted to a 20-year low, with fewer than 2,000 units sold in January and February — the worst start to the year since 2005.
Newsom defended the price-gouging protections shortly after they went into effect.
“In the days following the Los Angeles firestorms, we worked quickly to protect Los Angeles survivors from any form of exploitation,” he said in February 2025. “The state has the tools in place to not only block price gouging during this emergency, but also to prosecute bad actors.”
The Los Angeles County Department of Consumer and Business Affairs said it received more than 2,000 complaints after the fires, alleging that retailers and landlords were taking advantage of people put in hardship by their losses, and sent out more than 2,000 cease-and-desist letters to businesses and landlords for alleged price gouging, said Morine Merritt, who oversees department investigations into consumer and real estate fraud.
“Close to 90% of the complaints that we received involved allegations of rent increases,” Merritt said in an interview. Now that the fire-related protections have expired, existing laws and “regular market conditions determine price increases for goods and services, including rents,” she said.
Crackdowns on fire-related rent gouging have been rare, said Chelsea Kirk of the activist organization the Rent Brigade, which analyzed L.A. County’s rental market in the year after the fires. It reported 18,360 potential examples of price gouging in listings but said that few lawsuits had been filed by authorities so far.
Last week, Rent Brigade announced what it said was the first private civil lawsuit brought by a family that claimed to be rent-gouged in the aftermath of the wildfires. Plaintiffs Randall and Candy Renick, whose Altadena home was damaged, said they were charged nearly three times the maximum permitted rate for nearly 10 months. They seek restitution of $96,000 plus civil penalties and attorneys’ fees.
The rental market has probably stabilized since the fires, Kirk said, but other families may still be “locked into illegal rents” that they agreed to pay when they were in a rush to find housing after they were displaced.
Business
Read Nick Bilton’s Letter to Scott Pelley
Dear Mr. Pelley:
I meant what I said in my letter last week to the 60 Minutes team: joining 60 Minutes is the honor of my career and I am grateful to be working alongside the people who have contributed to the most important television journalism brand this country has ever produced. While I’m new to 60 Minutes, I’ve devoted my career to investigative journalism and storytelling. I started this job excited to collaborate and to benefit from the wisdom and experience of the 60 Minutes veterans, with you among them. For that reason, one of the first things I did in my new role was call you to talk and invite you to dinner. It is a profound disappointment that you rejected that overture and chose ambush instead. Yesterday, you hijacked my first meeting with staff to disparage me, my qualifications, and my intentions with remarkable incivility and contempt. I welcome a diversity of viewpoints and respectful debate among the team, but this was nothing of the sort. Yesterday’s performative display of hostility enacted in front of the staff instead of in a civil, private conversation-demonstrated that you have no interest in contributing to the future success of the show, or approaching my new tenure with a mind open to collaboration and progress. I am here to deliver first-in-class news programming, not to make headlines about newsroom drama. I am eager to work alongside those who share this goal.
Despite yesterday’s misconduct, I had hoped that in sitting down with you today we could find a path forward together. You made clear that you are not interested in such a path.
Your antipathy to the future of the show has come through loud and clear. And I have heard you. I therefore write on behalf of CBS News, Inc. (“CBS”) to inform you that your employment with CBS is terminated for cause effective immediately. Enclosed is your formal termination letter.
Sincerely,
Nick Bilton
Executive Producer, 60 Minutes
Business
Aspiration co-founder sentenced to 14 years for fraud
The co-founder of Aspiration, Joseph Sanberg, was sentenced to 14 years in prison on Monday after defrauding investors and lenders of over $248 million.
The startup, an eco-friendly digital banking company boasting fossil fuel-free investments, carbon offsets for gas purchases, and a debit card with cash-back benefits for shopping at clean companies, was founded by Sanberg and Andrei Cherny. Cherny left the company in 2022 and has not been charged.
Sanberg, an Orange County native, pleaded guilty to wire fraud in October after being arrested in March last year. Aspiration subsequently filed for bankruptcy and liquidated all of its assets by July.
Sanberg and venture capitalist Ibrahim AlHusseini, who also faces charges, together forged a series of bank statements in order to obtain loans. From 2020 to 2021, the pair forged AlHusseini’s bank statements to show millions of dollars in assets in order to obtain millions of dollars from lenders.
Additionally, they forged a letter from their audit committee stating that $250 million in funds were available, when in reality Aspiration had less than $1 million. The amount of loans defrauded exceeded $248 million.
In 2021, Sanberg artificially inflated Aspiration’s 2021 revenue by $44 million by recruiting 27 fake customers to sign letters of intent pledging tens of thousands of dollars per month for tree planting services. Sanberg himself funded the contracts and used the inflated revenue numbers to obtain more loans.
The charges sparked an NBA investigation into salary cap allegations due to Aspiration’s connections with Clippers owner Steve Ballmer.
Ballmer personally invested $60 million in Aspiration, all of which was lost. He is now the target of a civil lawsuit alleging his participation in the scheme. Ballmer denies the allegations.
The team announced a $300-million sponsorship deal with Aspiration, and Clippers player Kawhi Leonard signed a four-year, $28-million marketing contract with the company, which reportedly performed no duties. The issue has raised concerns about how players are circumventing the NBA’s salary cap.
The team lost the $300-million sponsorship deal and an additional $20 million paid for carbon offset purchases.
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