Rich Habits Podcast

Episode: "Apple's New AI Project, Sydney Sweeney Adding $1B to AE & Trump's Tech Dinner"

Date: September 5, 2025
Hosts: Austin Hankwitz & Robert Croak

Episode Overview

In this episode of the Rich Habits Podcast, Austin Hankwitz and Robert Croak break down three headline topics impacting money, markets, and entrepreneurs: Trump’s high-profile AI-focused dinner with leading tech CEOs, the U.S. labor market’s growing fragility, and the Sydney Sweeney-American Eagle campaign that added $1 billion to the company’s market cap. The show also features rapid-fire news, a deep-dive into Apple’s new AI project for Siri, and practical Q&A for small business owners looking for guidance on launching healthcare facilities, negotiating commercial leases, and protecting their brands.

Key Discussion Points & Insights

1. Trump’s Rose Garden Tech Dinner & U.S. AI Policy

(00:42-05:02)

President Trump hosted over two dozen tech leaders at the White House, including Tim Cook (Apple), Mark Zuckerberg (Meta), Bill Gates and Satya Nadella (Microsoft), Sam Altman (OpenAI), Sundar Pichai (Google), and more.
The dinner followed a K-12 AI education event chaired by First Lady Melania Trump, part of a broader administration effort to promote AI education and U.S. strategy in emerging tech.
The event aimed to:
- Shape regulatory and corporate policy
- Encourage public-private partnership
- Cement the U.S. as the global leader in AI and advanced manufacturing
Trump’s moves are seen as a pivot toward stronger U.S. investment in AI, with underlying trade tensions regarding China as a key subtext.
Notably, Elon Musk declined to attend but sent a representative.

Notable Quote:

“It’s obvious that Donald Trump now is pretty much saying, hey, AI is here to stay. Let me make sure I’ve got relationships with all these people.” – Austin Hankwitz (03:38)

2. Labor Market Weakness & Fed Rate Cut Expectations

(05:03-07:29)

Jobless claims in the U.S. rose more than expected in late August; private-sector hiring slowed sharply.
- August: 54,000 new jobs (down from July’s 106,000)
- For the first time since the pandemic, unemployed persons outnumber open positions.
Economists point to tariffs and strict immigration policies as drags, especially in construction and hospitality.
The Federal Reserve is now highly likely (98% probability) to cut interest rates in their upcoming meeting, shifting concern from inflation to labor market health.
Higher unemployment (now 4.2%) could constrain consumer spending, impacting markets.

Notable Quote:

“We believe the risk associated with the labor market is more important, right, than the risk associated with inflation.” – Paraphrased Federal Reserve sentiment by Austin Hankwitz (06:05)

“Just make sure, don’t have knee jerk reactions — relax, chill out, we’ll keep you up to date … and how it affects your money month after month.” – Robert Croak (07:07)

3. Sydney Sweeney Boosts American Eagle’s Market Cap

(07:29-10:49)

Sydney Sweeney’s “Great Jeans” ad campaign for American Eagle went viral:
- Over 40 billion ad impressions
- 700,000+ new customers
- Genuine cultural moment, especially with Gen Z
Q2 2025 results:
- 15% YoY profit jump (double Wall Street expectations)
- Revenue $1.3 billion (above expectations)
- $1B increase in market cap; 35% stock price spike in a day
CEO Jay Schlattenstein’s personal wealth surged by $75 million overnight.
Despite these wins, tariff headwinds ($20M Q3, up to $50M Q4) are a concern.
Emphasized as a textbook lesson in impactful celebrity-led marketing and the financial value of riding controversy for engagement.

Notable Quote:

“It ruffled so many feathers that just this campaign with a cute girl in jeans could cause so much disruption … crazy how the economic turns of what happened with this happened.” – Robert Croak (07:54)
“That 1 billion came after they just blew away those earnings results. Stocks up 35% yesterday … that guy is happier than anyone about the controversy.” – Austin Hankwitz (09:44)

Rapid-Fire Headlines

(10:49-16:57)

Austin’s Headlines

Figma Post-IPO Drop (10:49)
- Figma’s stock plummeted 55% post-IPO; revenue up 41% but slower guidance ahead.
- “Don’t jump in on an IPO just because it’s hot and sexy and fun in the moment.” – Austin (11:50)
Apple’s ‘World Knowledge Answers’ AI Project (12:10)
- Apple plans a spring Siri overhaul: integrating an “answer engine” (possibly using Google AI).
- Apple and Google have formalized a deal for Apple to evaluate Google’s model; Alphabet won’t have to divest Chrome.
- “We all hate using Siri. It sucks so bad I refuse to use it.” – Austin
Amazon’s Satellite Internet Strikes JetBlue Deal (12:55)
- Amazon “Cooper” (rival to Starlink) will provide in-flight Wi-Fi to 25% of JetBlue’s fleet by 2027.
- Amazon only has 100 satellites (vs. Starlink’s 8,000), but “if we know anything about Amazon…”
- “Yes, I am the biggest believer in fast Wi-Fi on airplanes. That is a problem I will invest into 100%.” – Austin (14:11)

Robert’s Headlines

Gold at All-Time High (15:11)
- Gold continues to surge amid a weakening dollar.
Commercial Real Estate Delinquencies Spike (15:33)
- 11.7% delinquency rate, an all-time high. Presents opportunity for buyers but risk for over-leveraged property owners.
US Revokes TSMC Waiver (16:13)
- Trump administration revokes Taiwan Semiconductor’s China manufacturing waiver.
- Seen as a strategic decoupling in AI chip manufacturing race.
- “The AI sector relies heavily on Taiwan Semiconductor ... I like this long term, even though currently…” – Robert

Deep-Dive: Listener Q&A

(16:57-33:28)

1. Starting a Healthcare Business (Mandy’s Question)

(16:57-23:25)

Should she open a nursing home with a friend, or solo? Is an infusion therapy center less risky? What financial/legal steps should she take?
- Austin:
  - Do research — contact privately owned nursing home operators to learn startup/operations secrets.
  - Find a partner with ops experience; don’t go solo unless you can handle both patient care and business ops.
  - Licensing and compliance are crucial (legal help may be needed).
- Robert:
  - Nursing homes more logical than infusion centers (based on Mandy’s expertise).
  - Prefers SBA or credit union loans over big debt or buying a building outright; lease and negotiate build-out dollars with landlord.
  - “Because once you start on the road of opening [an] Fusion therapy, you put yourself in a situation where … if you hire somebody and they're not legitimate … you can't control the narrative of your business ... I would lean towards the nursing home because I think it’s easier.” – Robert (21:23)

2. Negotiating a Commercial Lease (Candace’s Question)

(23:25-28:27)

Landlord raised base rent 20% and imposed unclear CAM fees. What to do?
- Robert:
  - 20% hike is extreme; “death by fees is real.” Lease fine print can hide lots of traps.
  - Try to negotiate for lower increases and strict CAM caps; always consult a leasing expert or real estate attorney.
  - Renewal leverage is limited, but ask to cap increases, extend renewal options, and protect your right to stay as business grows.
  - “Best paperwork always wins in the end.” – Robert
- Austin:
  - Respond with abundance mindset: “How do I now offset this with more [revenue]?” Consider new services, merch, subscriptions, cost cuts.

3. Brand Protection & Knockoffs (Mike’s Question)

(29:06-33:28)

Competitor copied colors, packaging, taglines. Has trademark, but not packaging. What protection steps?
- Robert:
  - “You are in a terrible position.” – Robert, citing his personal battles with knockoff products (Silly Bands, sanitizer bracelets).
  - Always hire a trademark/patent specialist before spending big on enforcement.
  - If case is strong, start with cease & desist.
  - Design patents on packaging (“trade dress”) are cheap and highly effective — best to file early.
  - “When you're launching a brand to the market, buy every URL associated ... That's the number one hack.”
- Best legal spend: trademarks, then maybe design patents on packaging. Copyrights and more are secondary.

Notable Quotes & Memorable Moments

“Trump now is pretty much saying, hey, AI is here to stay. Let me make sure I’ve got relationships with all these people.” – Austin, 03:38
“With unemployment rising ... the Fed is now thinking, hey, do we pivot faster toward rate cuts?” – Austin, 06:42
“Stocks up 35% yesterday ... increased [CEO Jay Schlattenstein's] fortune from about $200 million to $275 million overnight.” – Austin, 09:44
“Don’t jump in on an IPO just because it’s hot and sexy and fun in the moment.” – Austin, 11:50
“You can have all the customers in the world, but if you don’t know how to operate it correctly, pay your taxes, make sure your licenses are good … you’re going to find yourself in trouble.” – Robert, 21:23
“Best paperwork always wins in the end.” – Robert, 28:27
“Buy every URL associated with the final name you choose ... That's the number one hack.” – Robert, 32:23

Timestamps for Key Segments

00:42 – Show intro, top headlines preview
01:39 – Trump tech dinner deep-dive
05:03 – Labor market weakness & Fed expectations
07:29 – American Eagle/Sydney Sweeney campaign
10:49 – Rapid-fire: Figma, Apple’s Siri revamp, Amazon’s internet
14:41 – Robert's quick takes: Gold, CRE, TSMC/China
16:57 – Listener Q&A: Healthcare startups
23:25 – Listener Q&A: Commercial lease increases
29:06 – Listener Q&A: Brand protection/knockoffs

Final Thoughts

The episode is packed with actionable insights for anyone tracking tech, investing, or running a business. The hosts blend real talk, hard lessons, and up-to-the-minute headlines while keeping a clear, conversational tone. Robert's deep entrepreneurial experience shines, while Austin brings an energetic, relentless learner’s perspective.

For more:

Visit the Rich Habits Podcast feed or newsletter for further resources and episode updates.

Rich Habits Podcast

Episode: "Apple's New AI Project, Sydney Sweeney Adding $1B to AE & Trump's Tech Dinner"

Date: September 5, 2025
Hosts: Austin Hankwitz & Robert Croak

Episode Overview

Key Discussion Points & Insights

1. Trump’s Rose Garden Tech Dinner & U.S. AI Policy

(00:42-05:02)

President Trump hosted over two dozen tech leaders at the White House, including Tim Cook (Apple), Mark Zuckerberg (Meta), Bill Gates and Satya Nadella (Microsoft), Sam Altman (OpenAI), Sundar Pichai (Google), and more.
The dinner followed a K-12 AI education event chaired by First Lady Melania Trump, part of a broader administration effort to promote AI education and U.S. strategy in emerging tech.
The event aimed to:
- Shape regulatory and corporate policy
- Encourage public-private partnership
- Cement the U.S. as the global leader in AI and advanced manufacturing
Trump’s moves are seen as a pivot toward stronger U.S. investment in AI, with underlying trade tensions regarding China as a key subtext.
Notably, Elon Musk declined to attend but sent a representative.

Notable Quote:

“It’s obvious that Donald Trump now is pretty much saying, hey, AI is here to stay. Let me make sure I’ve got relationships with all these people.” – Austin Hankwitz (03:38)

2. Labor Market Weakness & Fed Rate Cut Expectations

(05:03-07:29)

Jobless claims in the U.S. rose more than expected in late August; private-sector hiring slowed sharply.
- August: 54,000 new jobs (down from July’s 106,000)
- For the first time since the pandemic, unemployed persons outnumber open positions.
Economists point to tariffs and strict immigration policies as drags, especially in construction and hospitality.
The Federal Reserve is now highly likely (98% probability) to cut interest rates in their upcoming meeting, shifting concern from inflation to labor market health.
Higher unemployment (now 4.2%) could constrain consumer spending, impacting markets.

Notable Quote:

“We believe the risk associated with the labor market is more important, right, than the risk associated with inflation.” – Paraphrased Federal Reserve sentiment by Austin Hankwitz (06:05)

“Just make sure, don’t have knee jerk reactions — relax, chill out, we’ll keep you up to date … and how it affects your money month after month.” – Robert Croak (07:07)

3. Sydney Sweeney Boosts American Eagle’s Market Cap

(07:29-10:49)

Sydney Sweeney’s “Great Jeans” ad campaign for American Eagle went viral:
- Over 40 billion ad impressions
- 700,000+ new customers
- Genuine cultural moment, especially with Gen Z
Q2 2025 results:
- 15% YoY profit jump (double Wall Street expectations)
- Revenue $1.3 billion (above expectations)
- $1B increase in market cap; 35% stock price spike in a day
CEO Jay Schlattenstein’s personal wealth surged by $75 million overnight.
Despite these wins, tariff headwinds ($20M Q3, up to $50M Q4) are a concern.
Emphasized as a textbook lesson in impactful celebrity-led marketing and the financial value of riding controversy for engagement.

Notable Quote:

“It ruffled so many feathers that just this campaign with a cute girl in jeans could cause so much disruption … crazy how the economic turns of what happened with this happened.” – Robert Croak (07:54)
“That 1 billion came after they just blew away those earnings results. Stocks up 35% yesterday … that guy is happier than anyone about the controversy.” – Austin Hankwitz (09:44)

Rapid-Fire Headlines

(10:49-16:57)

Austin’s Headlines

Figma Post-IPO Drop (10:49)
- Figma’s stock plummeted 55% post-IPO; revenue up 41% but slower guidance ahead.
- “Don’t jump in on an IPO just because it’s hot and sexy and fun in the moment.” – Austin (11:50)
Apple’s ‘World Knowledge Answers’ AI Project (12:10)
- Apple plans a spring Siri overhaul: integrating an “answer engine” (possibly using Google AI).
- Apple and Google have formalized a deal for Apple to evaluate Google’s model; Alphabet won’t have to divest Chrome.
- “We all hate using Siri. It sucks so bad I refuse to use it.” – Austin
Amazon’s Satellite Internet Strikes JetBlue Deal (12:55)
- Amazon “Cooper” (rival to Starlink) will provide in-flight Wi-Fi to 25% of JetBlue’s fleet by 2027.
- Amazon only has 100 satellites (vs. Starlink’s 8,000), but “if we know anything about Amazon…”
- “Yes, I am the biggest believer in fast Wi-Fi on airplanes. That is a problem I will invest into 100%.” – Austin (14:11)

Robert’s Headlines

Gold at All-Time High (15:11)
- Gold continues to surge amid a weakening dollar.
Commercial Real Estate Delinquencies Spike (15:33)
- 11.7% delinquency rate, an all-time high. Presents opportunity for buyers but risk for over-leveraged property owners.
US Revokes TSMC Waiver (16:13)
- Trump administration revokes Taiwan Semiconductor’s China manufacturing waiver.
- Seen as a strategic decoupling in AI chip manufacturing race.
- “The AI sector relies heavily on Taiwan Semiconductor ... I like this long term, even though currently…” – Robert

Deep-Dive: Listener Q&A

(16:57-33:28)

1. Starting a Healthcare Business (Mandy’s Question)

(16:57-23:25)

Should she open a nursing home with a friend, or solo? Is an infusion therapy center less risky? What financial/legal steps should she take?
- Austin:
  - Do research — contact privately owned nursing home operators to learn startup/operations secrets.
  - Find a partner with ops experience; don’t go solo unless you can handle both patient care and business ops.
  - Licensing and compliance are crucial (legal help may be needed).
- Robert:
  - Nursing homes more logical than infusion centers (based on Mandy’s expertise).
  - Prefers SBA or credit union loans over big debt or buying a building outright; lease and negotiate build-out dollars with landlord.
  - “Because once you start on the road of opening [an] Fusion therapy, you put yourself in a situation where … if you hire somebody and they're not legitimate … you can't control the narrative of your business ... I would lean towards the nursing home because I think it’s easier.” – Robert (21:23)

2. Negotiating a Commercial Lease (Candace’s Question)

(23:25-28:27)

Landlord raised base rent 20% and imposed unclear CAM fees. What to do?
- Robert:
  - 20% hike is extreme; “death by fees is real.” Lease fine print can hide lots of traps.
  - Try to negotiate for lower increases and strict CAM caps; always consult a leasing expert or real estate attorney.
  - Renewal leverage is limited, but ask to cap increases, extend renewal options, and protect your right to stay as business grows.
  - “Best paperwork always wins in the end.” – Robert
- Austin:
  - Respond with abundance mindset: “How do I now offset this with more [revenue]?” Consider new services, merch, subscriptions, cost cuts.

3. Brand Protection & Knockoffs (Mike’s Question)

(29:06-33:28)

Competitor copied colors, packaging, taglines. Has trademark, but not packaging. What protection steps?
- Robert:
  - “You are in a terrible position.” – Robert, citing his personal battles with knockoff products (Silly Bands, sanitizer bracelets).
  - Always hire a trademark/patent specialist before spending big on enforcement.
  - If case is strong, start with cease & desist.
  - Design patents on packaging (“trade dress”) are cheap and highly effective — best to file early.
  - “When you're launching a brand to the market, buy every URL associated ... That's the number one hack.”
- Best legal spend: trademarks, then maybe design patents on packaging. Copyrights and more are secondary.

Notable Quotes & Memorable Moments

“Trump now is pretty much saying, hey, AI is here to stay. Let me make sure I’ve got relationships with all these people.” – Austin, 03:38
“With unemployment rising ... the Fed is now thinking, hey, do we pivot faster toward rate cuts?” – Austin, 06:42
“Stocks up 35% yesterday ... increased [CEO Jay Schlattenstein's] fortune from about $200 million to $275 million overnight.” – Austin, 09:44
“Don’t jump in on an IPO just because it’s hot and sexy and fun in the moment.” – Austin, 11:50
“You can have all the customers in the world, but if you don’t know how to operate it correctly, pay your taxes, make sure your licenses are good … you’re going to find yourself in trouble.” – Robert, 21:23
“Best paperwork always wins in the end.” – Robert, 28:27
“Buy every URL associated with the final name you choose ... That's the number one hack.” – Robert, 32:23

Timestamps for Key Segments

00:42 – Show intro, top headlines preview
01:39 – Trump tech dinner deep-dive
05:03 – Labor market weakness & Fed expectations
07:29 – American Eagle/Sydney Sweeney campaign
10:49 – Rapid-fire: Figma, Apple’s Siri revamp, Amazon’s internet
14:41 – Robert's quick takes: Gold, CRE, TSMC/China
16:57 – Listener Q&A: Healthcare startups
23:25 – Listener Q&A: Commercial lease increases
29:06 – Listener Q&A: Brand protection/knockoffs

Final Thoughts

For more:

Visit the Rich Habits Podcast feed or newsletter for further resources and episode updates.

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Apple's New AI Project, Sydney Sweeney Adding $1B to AE & Trump's Tech Dinner

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Summary

Rich Habits Podcast

Episode: "Apple's New AI Project, Sydney Sweeney Adding $1B to AE & Trump's Tech Dinner"

Episode Overview

Key Discussion Points & Insights

1. Trump’s Rose Garden Tech Dinner & U.S. AI Policy

2. Labor Market Weakness & Fed Rate Cut Expectations

3. Sydney Sweeney Boosts American Eagle’s Market Cap

Rapid-Fire Headlines

Austin’s Headlines

Robert’s Headlines

Deep-Dive: Listener Q&A

1. Starting a Healthcare Business (Mandy’s Question)

2. Negotiating a Commercial Lease (Candace’s Question)

3. Brand Protection & Knockoffs (Mike’s Question)

Notable Quotes & Memorable Moments

Timestamps for Key Segments

Final Thoughts

Summary

Rich Habits Podcast

Episode: "Apple's New AI Project, Sydney Sweeney Adding $1B to AE & Trump's Tech Dinner"

Episode Overview

Key Discussion Points & Insights

1. Trump’s Rose Garden Tech Dinner & U.S. AI Policy

2. Labor Market Weakness & Fed Rate Cut Expectations

3. Sydney Sweeney Boosts American Eagle’s Market Cap

Rapid-Fire Headlines

Austin’s Headlines

Robert’s Headlines

Deep-Dive: Listener Q&A

1. Starting a Healthcare Business (Mandy’s Question)

2. Negotiating a Commercial Lease (Candace’s Question)

3. Brand Protection & Knockoffs (Mike’s Question)

Notable Quotes & Memorable Moments

Timestamps for Key Segments

Final Thoughts