The following podcast contains explicit language.

Hello and welcome to the hashtag brands edition of Slate Money, your guide to the business and finance news of the week.

I'm Felix Salmon.

I have Anna Shamansky here as usual.

Hello.

And Kyle Chaker.

Hello.

Kyle, introduce yourself.

I am a freelance writer in Brooklyn, and I think I write a lot about hashtag brands.

The brands of actual brands, fashion brands, aesthetic brands, all kinds of brands.

Read Kyle's piece about Monaco.

It was awesome.

Monaco is a brand.

Monaco is a lifestyle brand. It's a lifestyle brand, which I'm mildly

obsessed by, because it's, and we will get into this, but one of the interesting things about

Monaco is that you kind of buy into the whole brand, which is a publication, but it doesn't really have any distinction

between editorial and advertising.

And so if you buy into the brand, you read the editorial to learn what brands to like,

and you read the ads to read, to learn what brands to like, and they're the same thing.

Yeah, the editorial is like the image of editorial.

It's like an

approximation of what a magazine would be if there was a magazine there, but instead it's just

...