Men Used to Have Wives. Now They Have Stylists.
Kanebridge News
    HOUSE MEDIAN ASKING PRICES AND WEEKLY CHANGE     Sydney $1,655,421 (-1.37%)       Melbourne $932,308 (-8.79%)       Brisbane $1,123,003 (-1.81%)       Adelaide $1,037,564 (+0.65%)       Perth $1,067,431 (-3.14%)       Hobart $841,531 (-0.24%)       Darwin $833,085 (+2.22%)       Canberra $997,488 (-1.28%)       National Capitals $1,117,351 (-1.89%)                UNIT MEDIAN ASKING PRICES AND WEEKLY CHANGE     Sydney $809,969 (-3.22%)       Melbourne $565,142 (-9.84%)       Brisbane $739,115 (-5.33%)       Adelaide $586,922 (+1.33%)       Perth $628,011 (-0.24%)       Hobart $600,183 (+4.66%)       Darwin $485,553 (-1.34%)       Canberra $494,366 (+1.35%)       National Capitals $631,659 (-2.57%)                HOUSES FOR SALE AND WEEKLY CHANGE     Sydney 15,318 (+1,415)       Melbourne 16,910 (+2,370)       Brisbane 12,398 (-503)       Adelaide 4,278 (+579)       Perth 9,664 (+855)       Hobart 813 (+96)       Darwin 197 (+12)       Canberra 1,334 (+129)       National Capitals 60,912 (+4,953)                UNITS FOR SALE AND WEEKLY CHANGE     Sydney 9,649 (-1,019)       Melbourne 6,724 (-1,041)       Brisbane 2,551 (+198)       Adelaide 669 (+230)       Perth 1,787 (+79)       Hobart 166 (+9)       Darwin 207 (-9)       Canberra 1,280 (+68)       National Capitals 23,033 (-1,485)                HOUSE MEDIAN ASKING RENTS AND WEEKLY CHANGE     Sydney $850 (-$10)       Melbourne $600 ($0)       Brisbane $720 (+$20)       Adelaide $650 ($0)       Perth $750 ($0)       Hobart $620 (-$10)       Darwin $850 (+$50)       Canberra $710 (-$10)       National Capitals $730 (+$7)                UNIT MEDIAN ASKING RENTS AND WEEKLY CHANGE     Sydney $800 (-$20)       Melbourne $610 (-$10)       Brisbane $680 (+$60)       Adelaide $540 ($0)       Perth $700 ($0)       Hobart $530 (+$23)       Darwin $680 (-$40)       Canberra $580 (-$10)       National Capitals $652 (-$2)                HOUSES FOR RENT AND WEEKLY CHANGE     Sydney 6,408 (-212)       Melbourne 7,769 (+707)       Brisbane 3,720 (+239)       Adelaide 1,232 (-47)       Perth 2,223 (+72)       Hobart 199 (-38)       Darwin 85 (+31)       Canberra 376 (-70)       National Capitals 22,012 (+682)                UNITS FOR RENT AND WEEKLY CHANGE     Sydney 9,911 (-226)       Melbourne 6,187 (+102)       Brisbane 2,194 (-1,277)       Adelaide 443 (+20)       Perth 714 (+16)       Hobart 80 (+10)       Darwin 154 (+42)       Canberra 770 (+1)       National Capitals 20,453 (-1,312)                HOUSE ANNUAL GROSS YIELDS AND TREND       Sydney 2.67% (↑)      Melbourne 3.35% (↑)      Brisbane 3.33% (↑)        Adelaide 3.26% (↓)     Perth 3.65% (↑)        Hobart 3.83% (↓)     Darwin 5.31% (↑)        Canberra 3.70% (↓)     National Capitals 3.40% (↑)             UNIT ANNUAL GROSS YIELDS AND TREND       Sydney 5.14% (↑)      Melbourne 5.61% (↑)      Brisbane 4.78% (↑)        Adelaide 4.78% (↓)     Perth 5.80% (↑)        Hobart 4.59% (↓)       Darwin 7.28% (↓)       Canberra 6.10% (↓)     National Capitals 5.36% (↑)             HOUSE RENTAL VACANCY RATES AND TREND       Sydney 1.4% (↑)      Melbourne 1.5% (↑)      Brisbane 1.2% (↑)      Adelaide 1.2% (↑)      Perth 1.0% (↑)        Hobart 0.5% (↓)       Darwin 0.7% (↓)     Canberra 1.6% (↑)      National Capitals $1.1% (↑)             UNIT RENTAL VACANCY RATES AND TREND       Sydney 1.4% (↑)      Melbourne 2.4% (↑)      Brisbane 1.5% (↑)      Adelaide 0.8% (↑)      Perth 0.9% (↑)      Hobart 1.2% (↑)        Darwin 1.4% (↓)     Canberra 2.7% (↑)      National Capitals $1.5% (↑)             AVERAGE DAYS TO SELL HOUSES AND TREND       Sydney 33.2 (↑)      Melbourne 31.7 (↑)        Brisbane 38.7 (↓)     Adelaide 31.4 (↑)        Perth 43.6 (↓)     Hobart 27.6 (↑)      Darwin 36.0 (↑)      Canberra 31.1 (↑)      National Capitals 34.2 (↑)             AVERAGE DAYS TO SELL UNITS AND TREND       Sydney 30.1 (↑)      Melbourne 29.3 (↑)      Brisbane 37.9 (↑)        Adelaide 31.6 (↓)     Perth 45.3 (↑)      Hobart 28.5 (↑)        Darwin 24.2 (↓)       Canberra 31.3 (↓)       National Capitals 32.3 (↓)           
Share Button

Men Used to Have Wives. Now They Have Stylists.

By JACOB GALLAGHER
Thu, Feb 15, 2024 8:31amGrey Clock 5 min

Jay Buys’s wife changed his life with 10 words: “You know, you don’t have to just wear band T-shirts.”

Shirts from Nine Inch Nails and Thrice—for years, this was the bulk of Buys’s wardrobe. Were they awesome ? Yes. Did they make him look like the CEO of a successful web design firm? Not quite. “If I looked better, I would’ve felt better,” said Buys, 44, of San Diego. So he hired someone to teach him to look better.

For most, the term “stylist” brings to mind a celebrity dresser putting Timothée Chalamet in a bombastic red carpet outfit. But there is also an industry of white-collar stylists helping hapless corporate types find the right shirts and trousers for their daily lives.

For Buys, that guy was Patrick Kenger.

Kenger runs Pivot, a personal styling service, charging as much as $5,000 to remake your wardrobe. Kenger’s job is part Marie Kondo, part therapist and large part a personal shopper. He helped Buys retire the band tees at work, subbing them with Suitsupply blazers and Bonobos trousers.

The switch had a Superman-bursting-out-of-the-phone-booth effect on Buys. “​​I look like I know what I’m doing.” Strangers seem to think so, too. He was startled when a random 20-something at the grocery store saw his leather John Varvatos jacket and chirped, “I like your drip, bro!”

Today, strivers in tech, law and finance are wealthier than ever, but corporate dress codes have collapsed. The hoodie-clad billionaire has become a cliché. In the C-suite, Loro Piana sneakers have trounced dress shoes. Fleece vests have vanquished ties. At the same time, we’re in a new era of boardroom boasting.

Executives crow about their pay packages, their workout routines (looking at you Mark Zuckerberg!) and the rarity of their sneakers. To look like you haven’t bought new clothes since we all clutched BlackBerrys is to risk being lapped on the corporate ladder.

So, if you’re sitting there confidently dressed and accepting compliments on how well your pants fit, congrats! But there are many men who lack the skills to piece an outfit together. Stylists say their work has ballooned in the past decade as the range of options on what’s office “appropriate” has waylaid even confident corporate leaders.

“Men are very confused right now with the dress codes that have blurred the lines of formality,” said Jacci Jaye, a white-collar stylist in New York City for two decades, whose services start at $3,800 plus expenses. Jaye, who works solely with executives, said that many of her roughly 50 clients knew what they liked in terms of style, but had no idea how to achieve that look.

“I looked sloppy and I didn’t want to look sloppy,” said Raj Nangunoori, 36, a neurosurgeon in Austin. He spent working hours in scrubs, but out of them, he was adrift. “Even shorts, like I was never great at picking out shorts,” Nangunoori said.

Around a year ago, he googled in search of a stylist and hired Peter Nguyen, a former menswear designer turned $10,000 stylist. Nguyen’s entrepreneur- and tech-type clients are long on money, short on time and scant on clothing knowledge.

Nguyen’s first step is a lengthy questionnaire: What music do you listen to, what are your hobbies, where do you vacation? “I view my clients like they’re characters in a movie,” he said. They give him their background and Nguyen’s job is to outfit that character.

The pair landed on a neat framework for Nangunoori’s new look: What would Ryan Reynolds wear? Prosaic tees were swapped for polo-neck sweaters and James Perse chinos were tailored to fit properly. Nguyen got Nangunoori into a pair of Common Projects minimalist $500-ish sneakers. Most importantly, he convinced him to ditch his shopping mistake paint-splattered jeans.

“I can’t pull off what Travis Scott’s wearing,” said Nangunoori, relaying all his hard-bought wisdom.

Like working with a trainer, some clients are wary of admitting they enlisted a fashion guru. One CEO I spoke with who hired a stylist told his business partner he had done so, only to be mocked. After that, he decided “I’m not talking to anyone.”

“I never had my own confidence in going shopping and buying suits or dress clothes or even my weekend stuff,” said Nate Dudek, 42, an executive at a software company living in East Hampton, Conn. A “technology nerd,” Dudek wasn’t born with a strong visual sense. “That goes from everything from picking a wall color in my house to the way I dress.” His tees-and-jeans wardrobe was as spicy as a glass of milk.

In 2022, about one year before co-founding his own company, Dudek “set out to invest in myself” by hiring Cassandra Sethi, a New York stylist behind the company Next Level Wardrobe whose services currently start at $5,500. Dudek’s wife, who has “killer style” and occasionally shopped for him, took some warming up to the idea. “She was like, ‘Why? I’m so good at buying you clothes!’”

But Dudek wanted an objective outside advisor—someone who didn’t know him as intimately as his wife—to overhaul his closet. (His wife has come around, and is relieved to not be his unpaid personal shopper.)

He never even had to meet her in person. Sethi shipped him boxes of clothes and over a three-hour Zoom session they deduced what suited him best. The transformation, Dudek said, “was fairly obvious.” Colleagues commented that he was carrying himself differently in his new gray Ted Baker blazer, and Save Khaki United’s trim tees. “I felt it too,” he said.

It is a cliché—but a factual one—that in many relationships, the wife or better-dressed husband is the begrudging fashion consultant. Supreet Chahal, a personal stylist in Oakland specialising in tech guys, says many clients come in saying “my girlfriend tried to help me, my wife tried out on me, but she keeps dressing me the way she wants me to look.”

Marco Rodriguez’s former girlfriend didn’t shop for him, but did steer him towards Nguyen a few years ago. “She was like, ‘Hey listen, I know you hate shopping,” said the 39-year-old musician and entrepreneur in Austin.

And oh, he did. Rodriguez could never find pants that fit his “interesting physique.” When he needed new clothes, he had to force himself to buy them. His style was directionless. “ I knew what I wanted but I just didn’t know how to get there.”

With Nguyen’s assistance, Rodriguez landed on a sort of “Soho boho, I hate to say rockstar” look of low-key Justin Theroux-style leather jackets, Chelsea boots and pieces from Parisian label Officine Générale. The experience “got me out of my comfort zone,” Rodriguez said.

The mindlessness that comes from working with a stylist is enticing to efficiency-obsessed tech workers. “I don’t want to spend a lot of time thinking in the morning,” said Michael Peter, 53, a principal architect at Google in cloud technology. Previously, he dressed like your standard tech worker—jeans, tennis shoes, the odd Batman tee—but a lightbulb went off during one meeting when he watched a better-dressed colleague take charge.

“He walked in the room, he had gravitas,” said Peter. Striving for that same effect, he hired Sethi of Next Level Wardrobe. She directed him toward a “refined elevated casual look” of slender-but-stretchy Vuori pants (which accommodate his gym-rat legs) and James Perse polos. Rather than his girlfriend telling him what to buy, he says, she’s stealing his clothes “all the time.”

To be sure, all of this comes at a cost. Businessmen I spoke with view the hefty fees as an investment, like renting a well-appointed office.

“The cost didn’t faze me a bit,” said Aaron Preman, 48, who owns a roofing company in San Diego, and hired Kenger at around $3,500.

“He taught me a lot in a short amount of time,” Preman said. He discovered that wintery colours suit his olive complexion and that he really likes Theory suits and Zegna ’s $990 triple-stitch sneakers—he now owns several pairs. The cost of everything—the guidance, the clothes—has been worth it to Preman. “He could’ve told me $10,000 and I would’ve said, ‘Okay, when are you coming over?’”



MOST POPULAR

From making unpopular decisions to learning when to listen, leaders from five businesses reveal what nobody prepared them for — and how running a company has challenged their expectations.

Technology and semiconductor shares fell sharply as investors questioned the debt financing the AI infrastructure boom and confronted higher rates and Chinese competition.

Related Stories
Money
The AI Boom Faces Its First Serious Debt Test
By Ruba Jaajaa 19/10/2026
Money
Australians Are Investing in Record Numbers — Again
By Ruba Jaajaa 19/10/2026
Property
Unemployment at 4.7 Per Cent Cools RBA’s Case for a November Rate Rise
By Ruba Jaajaa 16/10/2026
The AI Boom Faces Its First Serious Debt Test

Technology and semiconductor shares fell sharply as investors questioned the debt financing the AI infrastructure boom and confronted higher rates and Chinese competition.

By Ruba Jaajaa
Mon, Oct 19, 2026 4 min

A sharp technology sell-off has exposed a new anxiety on global markets: whether the enormous borrowing behind the artificial-intelligence infrastructure boom can generate sufficient returns as interest rates rise and Chinese competition intensifies.

The artificial-intelligence investment boom has powered technology shares, semiconductor manufacturers and data-centre operators to extraordinary heights. Last week, investors were given a reminder that much of this expansion is being built with borrowed money.

The technology-heavy Nasdaq Composite fell 4.5 per cent over the week ended October 16, its weakest performance since late June. Semiconductor shares suffered an even deeper correction, with the Philadelphia Semiconductor Index losing about 11.4 per cent.

The selling spread quickly through global markets. Micron Technology fell 14.6 per cent over the week, while South Korea’s Samsung Electronics and SK Hynix dropped approximately 18 per cent and 24 per cent respectively.

This was more than a routine bout of profit-taking. Investors were reassessing three interconnected risks: higher interest rates, the rapidly expanding debt burden attached to AI infrastructure and the prospect of stronger competition from Chinese memory-chip manufacturers.

The debt behind the AI build-out

Artificial intelligence requires a physical infrastructure network of enormous scale. Data centres must be built, advanced processors purchased, power supplies secured and cooling systems installed before customers begin generating meaningful revenue from them.

Technology companies are increasingly supplementing their own cash with corporate bonds, syndicated loans, equipment leases, private credit and project-level financing.

JPMorgan describes the emerging funding model as a combination of conventional corporate borrowing and project finance tied to individual data-centre assets. In Australia, the Reserve Bank estimates that syndicated loans accounted for approximately three-quarters of data-centre financing during 2025 and 2026 to date.

The numbers are becoming large enough to affect broader credit markets. The Federal Reserve Bank of Dallas has cited Wall Street estimates suggesting AI-related investment-grade bond issuance could approach US$300 billion in 2026 alone.

That borrowing is not automatically problematic. Debt can be an efficient way to finance long-lived infrastructure when future revenue is sufficiently predictable. The concern is that AI technology, customer demand and computing economics are changing much faster than the repayment schedules attached to the assets.

A data centre financed today may carry debt for years. Investors must therefore make assumptions about future utilisation rates, electricity prices, chip performance, customer concentration and the amount businesses will ultimately pay for AI computing.

When interest rates rise, those assumptions become less forgiving.

Inflation changes the calculation

September’s US inflation data intensified the pressure. Consumer prices increased 3.7 per cent over the year, ahead of market expectations and up from 3.4 per cent in August.

The hotter reading reduced confidence that interest rates would fall quickly and pushed bond yields higher. That matters particularly for companies whose valuations depend on profits expected well into the future, as well as highly leveraged infrastructure operators that may need to refinance.

CoreWeave has emerged as a closely watched test case. The specialist cloud-computing company has accumulated substantial debt and lease obligations to build AI capacity, while relying on a concentrated group of large technology customers.

Its shares fell sharply during the sell-off, while the cost of insuring its debt against default climbed. CoreWeave has argued that its contracted backlog more than covers its obligations and that financial markets do not always understand its business model. Nevertheless, its securities have become a proxy for investor confidence in debt-funded AI infrastructure.

Oracle, another major investor in AI computing capacity, fell 8.8 per cent in Friday trading, while CoreWeave dropped 15.5 per cent.

The question is shifting from how much AI infrastructure can be built to how profitably it can be operated.

China adds another source of pressure

Interest rates were not the only catalyst. Reports of advances by Chinese memory-chip producer ChangXin Memory Technologies raised concerns that lower-cost Chinese products could increase competition across the global semiconductor industry.

Memory chips are essential to AI systems, but the industry is historically cyclical. Periods of tight supply and high pricing can encourage rapid investment, eventually producing oversupply and falling margins.

The prospect of a well-funded Chinese competitor expanding its technological capabilities unsettled investors in Samsung, SK Hynix and Micron. It also demonstrated that AI-related demand does not insulate chipmakers from conventional competitive pressures.

That combination—slower rate cuts, more expensive financing and potentially cheaper supply—challenged the assumption that every company exposed to AI would enjoy continually expanding margins.

A reset rather than the end of the boom

The sell-off does not establish that the AI boom is ending. Demand for computing power remains strong, the largest technology companies continue to generate formidable cash flows and many infrastructure projects are backed by long-term customer contracts.

What has changed is the market’s willingness to overlook the price and financing structure of that growth.

The most resilient companies are likely to be those able to fund investment from operating cash flow, secure long-duration customers and demonstrate that new capacity will earn returns comfortably above its financing costs.

More speculative operators may face greater scrutiny, particularly where debt is expensive, customers are concentrated or expected revenue depends on demand that has not yet materialised.

For Australian investors, the lesson extends beyond US technology shares. Local data-centre operators, infrastructure funds, electricity suppliers and property groups are increasingly exposed to the same investment cycle.

Artificial intelligence may remain one of the defining growth themes of the decade. But last week’s correction showed that enthusiasm for the technology does not eliminate financial discipline.

The next stage of the AI boom will be judged not only by computing power, model performance or demand for chips, but by something more traditional: whether the assets being financed can generate enough cash to repay the money borrowed to build them.

Fact box

Nasdaq Composite: Down 4.5 per cent for the week ended October 16, 2026

Philadelphia Semiconductor Index: Down approximately 11.4 per cent

Micron Technology: Down approximately 14.6 per cent

Samsung Electronics: Down approximately 18 per cent

SK Hynix: Down approximately 24 per cent

US September inflation: 3.7 per cent annually

Estimated 2026 AI-related investment-grade issuance: Approximately US$300 billion

MOST POPULAR

From Tokyo backstreets to quiet coastal towns and off-grid cabins, top executives reveal where they holiday and why stepping away makes the grind worthwhile.

A resurgence in high-end travel to Egypt is being driven by museum openings, private river journeys and renewed long-term investment along the Nile.

Related Stories
Property
$30m Southern Highlands trophy home Invergowrie returns to the market
By Staff Writer 09/03/2026
Property
DOUBLE-DIGIT HOUSE PRICE GROWTH ARRIVES AHEAD OF EXPECTATIONS
By Staff Writer 04/11/2025
Motors
BMW’s Electric i3 and iX3 Raise the EV Standard With a 400-Plus-Mile Range
By Jim Motavalli 26/03/2026
0
Your Cart
Your cart is emptyReturn to Shop